8-K 1 mlm02nc1.txt AUGUST 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 26, 2002 MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2002-NC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-47270-04 Pooling and Servicing Agreement) (Commission 52-2365562 (State or other File Number) 52-2365561 jurisdiction 52-2365560 of Incorporation) 52-2365559 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On August 26, 2002 a distribution was made to holders of MERRILL LYNCH MORTGAGE INVESTORS, INC., Mortgage Loan Asset-Backed Certificates, Series 2002-NC1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2002-NC1 Trust, relating to the August 26 , 2002 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MERRILL LYNCH MORTGAGE INVESTORS, INC. Mortgage Loan Asset-Backed Certificates, Series 2002-NC1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/28/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Loan Asset-Backed Certificates, Series 2002-NC1 Trust, relating to the August 26, 2002 distribution. EX-99.1

Merrill Lynch Mortgage Loans, Inc. Mortgage ~~Pass~~Loan Asset-~~Through~~Backed Certificates Record Date: 67/3031/02 Distribution Date: 78/2526/02 MLM Series: 2002-NC1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 589929ZA9 SEN 2.~~16000~~15688% ~~160~~159,~~995~~947,~~910~~967.6322 ~~289~~306,~~792~~656.6451 1,~~047~~705,~~943~~614.4155 M-1 589929ZE1 SUB 2.~~54000~~53688% 13,974,000.00 2931,~~578~~511.3043 0.00 M-2 589929ZF8 SUB 3.~~04000~~03688% 10,980,000.00 2729,~~816~~639.0095 0.00 B-1 589929ZC5 SUB 3.~~74000~~73688% 7,486,000.00 2324,~~331~~866.3703 0.00 B-2 589929ZD3 SUB 4.~~14000~~13688% 2,496,000.00 89,~~611~~178.2036 0.00 CE MLM02N1CE SUB 0.00000% 2,994,383.31 ~~959~~930,~~664~~183.3913 0.00 R1 MLM02N1R1 RES 0.00000% 0.00 0.00 0.00 R2 MLM02N1R2 RES 0.00000% 0.00 0.00 0.00 R3 MLM02N1R3 RES 0.00000% 0.00 0.00 0.00 P MLM02N10P SUB 0.00000% 100.00 2134,~~528~~450.3861 0.00 Totals ~~198~~197,~~926~~878,~~393~~450.9453 1,~~360~~366,~~322~~486.2802 1,~~047~~705,~~943~~614.4155

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~159~~158,~~947~~242,~~967~~352.2267 12,~~337~~012,~~736~~271.0506 0.00 M-1 0.00 13,974,000.00 2931,~~578~~511.3043 0.00 M-2 0.00 10,980,000.00 2729,~~816~~639.0095 0.00 B-1 0.00 7,486,000.00 2324,~~331~~866.3703 0.00 B-2 0.00 2,496,000.00 89,~~611~~178.2036 0.00 CE 0.00 2,994,383.31 ~~959~~930,~~664~~183.3913 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 P 0.00 100.00 2134,~~528~~450.3861 0.00 Totals 0.00 ~~197~~196,~~878~~172,~~450~~835.5398 23,~~408~~072,~~265~~100.6957 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 161,696,000.00 ~~160~~159,~~995~~947,~~910~~967.6322 0.00 1,~~047~~705,~~943~~614.4155 0.00 0.00 M-1 13,974,000.00 13,974,000.00 0.00 0.00 0.00 0.00 M-2 10,980,000.00 10,980,000.00 0.00 0.00 0.00 0.00 B-1 7,486,000.00 7,486,000.00 0.00 0.00 0.00 0.00 B-2 2,496,000.00 2,496,000.00 0.00 0.00 0.00 0.00 CE 2,993,453.94 2,994,383.31 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 199,625,553.94 ~~198~~197,~~926~~878,~~393~~450.9453 0.00 1,~~047~~705,~~943~~614.4155 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 1,~~047~~705,~~943~~614.4155 ~~159~~158,~~947~~242,~~967~~352.2267 0.~~98918939~~97864111 1,~~047~~705,~~943~~614.4155 M-1 0.00 13,974,000.00 1.00000000 0.00 M-2 0.00 10,980,000.00 1.00000000 0.00 B-1 0.00 7,486,000.00 1.00000000 0.00 B-2 0.00 2,496,000.00 1.00000000 0.00 CE 0.00 2,994,383.31 1.00031047 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1,~~047~~705,~~943~~614.4155 ~~197~~196,~~878~~172,~~450~~835.5398 0.~~99124810~~98270403 1,~~047~~705,~~943~~614.4155

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 161,696,000.00 ~~995~~989.~~67033588~~18938762 0.00000000 610.~~48094826~~54827918 0.00000000 M-1 13,974,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,980,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 7,486,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 2,496,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 2,993,453.94 1000.31046745 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 610.~~48094826~~54827918 ~~989~~978.~~18938762~~64110844 0.~~98918939~~97864111 610.~~48094826~~54827918 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.31046745 1.00031047 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 161,696,000.00 2.~~16000~~15688% ~~160~~159,~~995~~947,~~910~~967.6322 ~~289~~306,~~792~~656.6451 0.00 0.00 M-1 13,974,000.00 2.~~54000~~53688% 13,974,000.00 2931,~~578~~511.3043 0.00 0.00 M-2 10,980,000.00 3.~~04000~~03688% 10,980,000.00 2729,~~816~~639.0095 0.00 0.00 B-1 7,486,000.00 3.~~74000~~73688% 7,486,000.00 2324,~~331~~866.3703 0.00 0.00 B-2 2,496,000.00 4.~~14000~~13688% 2,496,000.00 89,~~611~~178.2036 0.00 0.00 CE 2,993,453.94 0.00000% 2,994,383.31 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 199,625,553.94 ~~379~~401,~~129~~852.5128 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~289~~306,~~792~~656.6451 0.00 ~~159~~158,~~947~~242,~~967~~352.2267 M-1 0.00 0.00 2931,~~578~~511.3043 0.00 13,974,000.00 M-2 0.00 0.00 2729,~~816~~639.0095 0.00 10,980,000.00 B-1 0.00 0.00 2324,~~331~~866.3703 0.00 7,486,000.00 B-2 0.00 0.00 89,~~611~~178.2036 0.00 2,496,000.00 CE 0.00 0.00 ~~959~~930,~~664~~183.3913 0.00 2,994,383.31 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 2134,~~528~~450.3861 0.00 100.00 Totals 0.00 0.00 1,~~360~~366,~~322~~486.2802 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 161,696,000.00 2.~~16000~~15688% ~~995~~989.~~67033588~~18938762 1.~~79220661~~89650028 0.00000000 0.00000000 M-1 13,974,000.00 2.~~54000~~53688% 1000.00000000 2.~~11666667~~25500429 0.00000000 0.00000000 M-2 10,980,000.00 3.~~04000~~03688% 1000.00000000 2.~~53333333~~69944900 0.00000000 0.00000000 B-1 7,486,000.00 3.~~74000~~73688% 1000.00000000 3.~~11666711~~32167112 0.00000000 0.00000000 B-2 2,496,000.00 4.~~14000~~13688% 1000.00000000 3.~~45000000~~67722756 0.00000000 0.00000000 CE 2,993,453.94 0.00000% 1000.31046745 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 1.~~79220661~~89650028 0.00000000 ~~989~~978.~~18938762~~64110844 M-1 0.00000000 0.00000000 2.~~11666667~~25500429 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~53333333~~69944900 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~11666711~~32167112 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.~~45000000~~67722756 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~320~~310.~~58765868~~73908223 0.00000000 1000.31046745 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~215283~~344506.~~80000000~~10000000 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 23,~~348~~122,~~090~~572.4479 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~124,019~~0.4800 Realized Losses 0.00 Prepayment Penalties 2134,~~528~~450.3861 Total Deposits 23,~~493~~157,~~638~~023.3040 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 8584,~~372~~922.6183 Payment of Interest and Principal 23,~~408~~072,~~265~~100.6957 Total Withdrawals (Pool Distribution Amount) 23,~~493~~157,~~638~~023.3040 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 82,~~886~~449.0237 Wells Fargo 2,~~486~~473.5946 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8584,~~372~~922.6183

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 1.0812 1.0812 1,000.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 8676 0 0 0 8676 1210,~~994~~574,~~151~~103.0263 0.00 0.00 0.00 1210,~~994~~574,~~151~~103.0263 60 Days 1623 0 0 0 1623 24,~~133~~146,~~639~~304.4476 0.00 0.00 0.00 24,~~133~~146,~~639~~304.4476 90 Days 56 0 0 0 56 ~~454~~610,~~209~~149.7370 0.00 0.00 0.00 ~~454~~610,~~209~~149.7370 120 Days 04 0 0 0 04 0217,771.0068 0.00 0.00 0.00 0217,771.0068 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~107~~109 0 0 0 ~~107~~109 15,~~582~~548,~~000~~329.1977 0.00 0.00 0.00 15,~~582~~548,~~000~~329.1977 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 65.~~446777~~735849% 0.000000% 0.000000% 0.000000% 65.~~446777~~735849% 65.~~566734~~390198% 0.000000% 0.000000% 0.000000% 65.~~566734~~390198% 60 Days 1.~~199400~~735849% 0.000000% 0.000000% 0.000000% 1.~~199400~~735849% 12.~~078258~~113598% 0.000000% 0.000000% 0.000000% 12.~~078258~~113598% 90 Days 0.~~374813~~452830% 0.000000% 0.000000% 0.000000% 0.~~374813~~452830% 0.~~229540~~311027% 0.000000% 0.000000% 0.000000% 0.~~229540~~311027% 120 Days 0.~~000000~~301887% 0.000000% 0.000000% 0.000000% 0.~~000000~~301887% 0.~~000000~~111010% 0.000000% 0.000000% 0.000000% 0.~~000000~~111010% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 8.~~020990~~226415% 0.000000% 0.000000% 0.000000% 8.~~020990~~226415% 7.~~874531~~925832% 0.000000% 0.000000% 0.000000% 7.~~874531~~925832%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~124,019~~0.4800

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~591110~~801811% Weighted Average Net Coupon 8.~~091110~~301811% Weighted Average Pass-Through Rate 8.~~076110~~286811% Weighted Average Maturity(Stepdown Calculation ) ~~350~~349 Beginning Scheduled Collateral Loan Count 1,~~338~~334 Number Of Loans Paid In Full 49 Ending Scheduled Collateral Loan Count 1,~~334~~325 Beginning Scheduled Collateral Balance ~~198~~197,~~926~~878,~~393~~450.9453 Ending Scheduled Collateral Balance ~~197~~196,~~878~~172,~~450~~835.5398 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~197~~196,~~878~~172,~~450~~835.5398 Monthly P &I Constant 1,~~561~~589,~~455~~095.3669 Special Servicing Fee 0.00 Prepayment Penalties 2134,~~528~~450.3861 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~197~~196,~~878~~172,~~450~~835.5398 Scheduled Principal 137,~~289~~688.8735 Unscheduled Principal ~~910~~1,~~653~~567,926.5420

Miscellaneous Reporting Excess Cash Amount ~~959~~964,~~664~~632.3924 Extra Principal Distribution 0.00 Overcollateralization Amount 2,994,383.31 Overcollateralization Deficiency Amount 0.00 Overcollateralization Floor Amount 998,127.77 Overcollateralization Reduction Amount 0.00 Required Overcollateralization Amount 2,994,383.31 Overcollateralization Increase Amount -0.00 Specified Overcollateralization Amount 2,994,383.31

Group Level Collateral Statement Group ARM Loans Fixed Loans Total Collateral Description Mixed ARM Mixed Fixed Mixed Fixed & Arm Weighted Average Coupon Rate 8.~~871828~~982296 8.~~294335~~294331 8.~~591110~~801811 Weighted Average Net Rate 8.~~371828~~482296 7.~~794335~~794332 8.~~091110~~301811 Weighted Average Maturity ~~356~~355 ~~334~~333 ~~350~~349 Beginning Loan Count ~~941~~937 397 1,~~338~~334 Loans Paid In Full 48 01 49 Ending Loan Count ~~937~~929 ~~397~~396 1,~~334~~325 Beginning Scheduled Balance ~~146~~145,~~963~~965,~~429~~810.1172 51,~~962~~912,~~964~~639.8381 ~~198~~197,~~926~~878,~~393~~450.9453 Ending scheduled Balance ~~145~~144,~~965~~443,~~810~~495.7208 51,~~912~~729,~~639~~340.8190 ~~197~~196,~~878~~172,~~450~~835.5398 Record Date 0607/3031/2002 0607/3031/2002 0607/3031/2002 Principal And Interest Constant 1,~~175~~181,~~793~~908.8804 407,~~189~~187.7765 1,~~582~~589,~~983~~095.6569 Scheduled Principal 89,~~265~~317.3190 48,~~024~~370.5645 137,~~289~~688.8735 Unscheduled Principal ~~908~~1,~~353~~432,997.0874 2134,~~300~~928.46 ~~910~~1,~~653~~567,926.5420 Scheduled Interest 1,~~086~~092,~~528~~590.5714 ~~359~~358,~~165~~817.2120 1,~~445~~451,~~693~~407.7834 Servicing Fees 6160,~~234~~819.7711 21,~~651~~630.2526 82,~~886~~449.0237 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~837~~824.0455 ~~649~~648.5591 2,~~486~~473.5946 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,~~023~~029,~~456~~946.7648 336,~~864~~538.4103 1,~~360~~366,~~321~~484.1751 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 034,450.0061 0.00 034,450.0061 Special Servicing ~~FeePass-Through~~Fee ~~Rate~~ 0.00 0.00 0.00 Pass-Through Rate 8.~~356828~~467296 7.~~779335~~779331 8.~~076110~~286811

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