8-K 1 bsa02ac2.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 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-12 Pooling and Servicing Agreement) (Commission 02-0606786 (State or other File Number) 01-0698820 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 9062 Old Annapolis Road Columbia, MD 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 BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2002-AC2 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 Asset-Backed Certificates, Series 2002-AC2 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. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-AC2 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/3/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2002-AC2 Trust, relating to the August 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Asset~~Mortgage Pass-~~Backed~~Through Certificates Record Date: 67/3031/02 Distribution Date: 78/2526/02 BSA Series: 2002-AC2 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 07384YDD5 SEN 6.75000% 2719,~~960~~862,~~964~~226.5591 ~~157~~111,~~280~~725.4303 811,~~098~~755,~~737~~866.6591 A-2 07384YDE3 SEN 4.70000% 27,775,724.00 108,788.25 0.00 A-3 07384YDF0 SEN 2.~~19000~~18688% 32,537,276.00 59,~~380~~295.5393 0.00 A-4 07384YDG8 SEN 6.~~31000~~31312% 0.00 171,~~091~~176.8444 0.00 A-5 07384YDH6 SEN 2.~~34000~~33688% 3129,~~231~~881,~~112~~322.4890 6058,~~900~~190.6789 1,~~349~~959,~~789~~311.5710 A-6 07384YDJ2 SEN 6.~~16000~~16312% 0.00 ~~160~~153,~~319~~468.7148 0.00 A-7 07384YDK9 SEN 6.25000% 99,112,715.00 516,212.06 0.00 A-8 07384YDL7 SEN 0.50000% 0.00 41,296.96 0.00 A-9 07384YDM5 SEN 6.50000% 29,100,000.00 157,625.00 0.00 A-10 07384YDN3 SEN 0.50000% 0.00 12,125.00 0.00 PO 07384YDQ6 PO 0.00000% 1,~~483~~481,~~716~~844.2376 0.00 117,~~871~~685.4764 X-1 07384YDP8 SEN 0.~~86330~~86146% 0.00 ~~198~~191,~~598~~376.5265 0.00 B-1 07384YDR4 SUB 7.00000% 9,~~434~~427,~~320~~570.2421 5554,~~033~~994.5316 6,~~750~~825.0280 B-2 07384YDS2 SUB 7.00000% 5,~~225~~221,~~145~~406.0862 30,~~480~~458.0121 3,~~738~~780.4643 B-3 07384YDT0 SUB 7.00000% 4,~~644~~641,~~562~~239.3124 27,~~093~~073.2890 3,~~323~~360.0738 B-4 07384YDW3 SUB 7.00000% 1,~~741~~740,~~748~~502.3113 10,~~160~~152.2093 1,~~246~~260.1817 B-5 07384YDY9 SUB 7.00000% 2,~~032~~030,~~039~~585.7082 11,~~853~~845.5608 1,~~453~~470.8720 B-6 07384YEA0 SUB 7.00000% 3,~~774~~771,~~503~~803.8933 22,~~017~~002.9419 2,~~700~~730.5688 R-1 07384YDU7 RES 7.00000% 0.00 0.00 0.00 R-2 07384YDV5 RES 7.00000% 0.00 0.00 0.00 Totals ~~276~~266,~~053~~584,~~827~~216.7992 1,~~800~~737,~~257~~807.4916 913,~~469~~752,~~610~~291.8551

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 198,~~862~~106,~~226~~360.9100 811,~~256~~867,~~018~~591.0894 0.00 A-2 0.00 27,775,724.00 108,788.25 0.00 A-3 0.00 32,537,276.00 59,~~380~~295.5393 0.00 A-4 0.00 0.00 171,~~091~~176.8444 0.00 A-5 0.00 2927,~~881~~922,~~322~~011.9080 12,~~410~~017,~~690~~501.2499 0.00 A-6 0.00 0.00 ~~160~~153,~~319~~468.7148 0.00 A-7 0.00 99,112,715.00 516,212.06 0.00 A-8 0.00 0.00 41,296.96 0.00 A-9 0.00 29,100,000.00 157,625.00 0.00 A-10 0.00 0.00 12,125.00 0.00 PO 0.00 1,~~481~~464,~~844~~159.7612 117,~~871~~685.4764 0.00 X-1 0.00 0.00 ~~198~~191,~~598~~376.5265 0.00 B-1 0.00 9,~~427~~420,~~570~~744.2141 61,~~783~~819.5596 0.00 B-2 0.00 5,~~221~~217,~~406~~626.6218 34,~~218~~238.4764 0.00 B-3 0.00 4,~~641~~637,~~239~~878.2486 30,~~416~~434.3528 0.00 B-4 0.00 1,~~740~~739,~~502~~241.1397 11,~~406~~413.3810 0.00 B-5 0.00 2,~~030~~029,~~585~~115.8263 13,~~307~~315.4328 0.00 B-6 0.00 3,~~771~~769,~~803~~072.3344 24,~~718~~733.5007 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~266~~252,~~584~~831,~~216~~925.9241 1115,~~269~~490,~~868~~098.3467 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 40,460,000.00 2719,~~960~~862,~~964~~226.5591 ~~151~~147,~~916~~868.5335 711,~~946~~607,~~821~~998.1256 0.00 0.00 A-2 27,775,724.00 27,775,724.00 0.00 0.00 0.00 0.00 A-3 32,537,276.00 32,537,276.00 0.00 0.00 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 33,314,285.00 3129,~~231~~881,~~112~~322.4890 2524,~~319~~644.4272 1,~~324~~934,~~470~~666.1538 0.00 0.00 A-6 0.00 0.00 0.00 0.00 0.00 0.00 A-7 99,112,715.00 99,112,715.00 0.00 0.00 0.00 0.00 A-8 0.00 0.00 0.00 0.00 0.00 0.00 A-9 29,100,000.00 29,100,000.00 0.00 0.00 0.00 0.00 A-10 0.00 0.00 0.00 0.00 0.00 0.00 PO 1,505,268.84 1,~~483~~481,~~716~~844.2376 1,~~697~~708.6410 ~~173~~15,977.8354 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,447,600.00 9,~~434~~427,~~320~~570.2421 6,~~750~~825.0280 0.00 0.00 0.00 B-2 5,232,500.00 5,~~225~~221,~~145~~406.0862 3,~~738~~780.4643 0.00 0.00 0.00 B-3 4,651,100.00 4,~~644~~641,~~562~~239.3124 3,~~323~~360.0738 0.00 0.00 0.00 B-4 1,744,200.00 1,~~741~~740,~~748~~502.3113 1,~~246~~260.1817 0.00 0.00 0.00 B-5 2,034,900.00 2,~~032~~030,~~039~~585.7082 1,~~453~~470.8720 0.00 0.00 0.00 B-6 3,779,816.00 3,~~774~~771,~~503~~803.8933 2,~~700~~730.5688 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 Totals 290,695,484.84 ~~276~~266,~~053~~584,~~827~~216.7992 ~~198~~193,~~145~~649.7503 913,~~271~~558,~~465~~642.1048 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-1 811,~~098~~755,~~737~~866.6591 198,~~862~~106,~~226~~360.9100 0.~~49091021~~20035492 811,~~098~~755,~~737~~866.6591 A-2 0.00 27,775,724.00 1.00000000 0.00 A-3 0.00 32,537,276.00 1.00000000 0.00 A-4 0.00 0.00 0.00000000 0.00 A-5 1,~~349~~959,~~789~~311.5710 2927,~~881~~922,~~322~~011.9080 0.~~89695225~~83813931 1,~~349~~959,~~789~~311.5710 A-6 0.00 0.00 0.00000000 0.00 A-7 0.00 99,112,715.00 1.00000000 0.00 A-8 0.00 0.00 0.00000000 0.00 A-9 0.00 29,100,000.00 1.00000000 0.00 A-10 0.00 0.00 0.00000000 0.00 PO 117,~~871~~685.4764 1,~~481~~464,~~844~~159.7612 0.~~98443861~~97268945 117,~~871~~685.4764 X-1 0.00 0.00 0.00000000 0.00 B-1 6,~~750~~825.0280 9,~~427~~420,~~570~~744.2141 0.~~99787991~~99715742 6,~~750~~825.0280 B-2 3,~~738~~780.4643 5,~~221~~217,~~406~~626.6218 0.~~99787991~~99715742 3,~~738~~780.4643 B-3 3,~~323~~360.0738 4,~~641~~637,~~239~~878.2486 0.~~99787991~~99715742 3,~~323~~360.0738 B-4 1,~~246~~260.1817 1,~~740~~739,~~502~~241.1397 0.~~99787990~~99715742 1,~~246~~260.1817 B-5 1,~~453~~470.8720 2,~~030~~029,~~585~~115.8263 0.~~99787991~~99715742 1,~~453~~470.8720 B-6 2,~~700~~730.5688 3,~~771~~769,~~803~~072.3344 0.~~99788014~~99715765 2,~~700~~730.5688 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 913,~~469~~752,~~610~~291.8551 ~~266~~252,~~584~~831,~~216~~925.9241 0.~~91705661~~86974837 913,~~469~~752,~~610~~291.8551

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 40,460,000.00 ~~691~~490.~~07673134~~91020539 3.~~75473381~~65467993 ~~196~~286.~~41179239~~90060702 0.00000000 A-2 27,775,724.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 32,537,276.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 33,314,285.00 ~~937~~896.~~46909111~~95225036 0.~~76001691~~73976434 3958.~~75682354~~07317732 0.00000000 A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-7 99,112,715.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-9 29,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-10 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 1,505,268.84 ~~985~~984.~~68188657~~43860699 1.~~12779854~~13474746 010.~~11548103~~61440958 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,447,600.00 ~~998~~997.~~59437741~~87990707 0.~~71446928~~72249037 0.00000000 0.00000000 B-2 5,232,500.00 ~~998~~997.~~59437745~~87990827 0.~~71446918~~72249021 0.00000000 0.00000000 B-3 4,651,100.00 ~~998~~997.~~59437767~~87990798 0.~~71446970~~72249145 0.00000000 0.00000000 B-4 1,744,200.00 ~~998~~997.~~59437564~~87990483 0.~~71447082~~72249169 0.00000000 0.00000000 B-5 2,034,900.00 ~~998~~997.~~59437810~~87990565 0.~~71446754~~72249251 0.00000000 0.00000000 B-6 3,779,816.00 ~~998~~997.~~59461148~~88014284 0.~~71446864~~72249020 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 Per $1000 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 ~~200~~290.~~16652620~~55528695 ~~490~~200.~~91020539~~35491844 0.~~49091021~~20035492 ~~200~~290.~~16652620~~55528695 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 4058.~~51684045~~81294166 ~~896~~838.~~95225036~~13930871 0.~~89695225~~83813931 4058.~~51684045~~81294166 A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 111.~~24327957~~74915705 ~~984~~972.~~43860699~~68944995 0.~~98443861~~97268945 111.~~24327957~~74915705 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~71446928~~72249037 997.~~87990707~~15741670 0.~~99787991~~99715742 0.~~71446928~~72249037 B-2 0.00000000 0.~~71446918~~72249021 997.~~87990827~~15741615 0.~~99787991~~99715742 0.~~71446918~~72249021 B-3 0.00000000 0.~~71446970~~72249145 997.~~87990798~~15741653 0.~~99787991~~99715742 0.~~71446970~~72249145 B-4 0.00000000 0.~~71447082~~72249169 997.~~87990483~~15741887 0.~~99787990~~99715742 0.~~71447082~~72249169 B-5 0.00000000 0.~~71446754~~72249251 997.~~87990565~~15741805 0.~~99787991~~99715742 0.~~71446754~~72249251 B-6 0.00000000 0.~~71446864~~72249020 997.~~88014284~~15765000 0.~~99788014~~99715765 0.~~71446864~~72249020 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 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 40,460,000.00 6.75000% 2719,~~960~~862,~~964~~226.5591 ~~157~~111,~~280~~725.4303 0.00 0.00 A-2 27,775,724.00 4.70000% 27,775,724.00 108,788.25 0.00 0.00 A-3 32,537,276.00 2.~~19000~~18688% 32,537,276.00 59,~~380~~295.5393 0.00 0.00 A-4 0.00 6.~~31000~~31312% 32,537,276.00 171,~~091~~176.8444 0.00 0.00 A-5 33,314,285.00 2.~~34000~~33688% 3129,~~231~~881,~~112~~322.4890 6058,~~900~~190.6789 0.00 0.00 A-6 0.00 6.~~16000~~16312% 3129,~~231~~881,~~112~~322.4890 ~~160~~153,~~319~~468.7148 0.00 0.00 A-7 99,112,715.00 6.25000% 99,112,715.00 516,212.06 0.00 0.00 A-8 0.00 0.50000% 99,112,715.00 41,296.96 0.00 0.00 A-9 29,100,000.00 6.50000% 29,100,000.00 157,625.00 0.00 0.00 A-10 0.00 0.50000% 29,100,000.00 12,125.00 0.00 0.00 PO 1,505,268.84 0.00000% 1,~~483~~481,~~716~~844.2376 0.00 0.00 0.00 X-1 0.00 0.~~86330~~86146% ~~276~~266,~~053~~584,~~828~~217.6980 ~~198~~191,~~598~~376.5265 0.00 0.00 B-1 9,447,600.00 7.00000% 9,~~434~~427,~~320~~570.2421 5554,~~033~~994.5316 0.00 0.00 B-2 5,232,500.00 7.00000% 5,~~225~~221,~~145~~406.0862 30,~~480~~458.0121 0.00 0.00 B-3 4,651,100.00 7.00000% 4,~~644~~641,~~562~~239.3124 27,~~093~~073.2890 0.00 0.00 B-4 1,744,200.00 7.00000% 1,~~741~~740,~~748~~502.3113 10,~~160~~152.2093 0.00 0.00 B-5 2,034,900.00 7.00000% 2,~~032~~030,~~039~~585.7082 11,~~853~~845.5608 0.00 0.00 B-6 3,779,816.00 7.00000% 3,~~774~~771,~~503~~803.8933 22,~~017~~002.9419 0.00 0.00 R-1 50.00 7.00000% 0.00 0.00 0.00 0.00 R-2 50.00 7.00000% 0.00 0.00 0.00 0.00 Totals 290,695,484.84 1,~~800~~737,~~257~~807.4916 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 ~~157~~111,~~280~~725.4303 0.00 198,~~862~~106,~~226~~360.9100 A-2 0.00 0.00 108,788.25 0.00 27,775,724.00 A-3 0.00 0.00 59,~~380~~295.5393 0.00 32,537,276.00 A-4 0.00 0.00 171,~~091~~176.8444 0.00 32,537,276.00 A-5 0.00 0.00 6058,~~900~~190.6789 0.00 2927,~~881~~922,~~322~~011.9080 A-6 0.00 0.00 ~~160~~153,~~319~~468.7148 0.00 2927,~~881~~922,~~322~~011.9080 A-7 0.00 0.00 516,212.06 0.00 99,112,715.00 A-8 0.00 0.00 41,296.96 0.00 99,112,715.00 A-9 0.00 0.00 157,625.00 0.00 29,100,000.00 A-10 0.00 0.00 12,125.00 0.00 29,100,000.00 PO 0.00 0.00 0.00 0.00 1,~~481~~464,~~844~~159.7612 X-1 0.00 0.00 ~~198~~191,~~598~~376.5265 0.00 ~~266~~252,~~584~~831,~~217~~926.8024 B-1 0.00 0.00 5554,~~033~~994.5316 0.00 9,~~427~~420,~~570~~744.2141 B-2 0.00 0.00 30,~~480~~458.0121 0.00 5,~~221~~217,~~406~~626.6218 B-3 0.00 0.00 27,~~093~~073.2890 0.00 4,~~641~~637,~~239~~878.2486 B-4 0.00 0.00 10,~~160~~152.2093 0.00 1,~~740~~739,~~502~~241.1397 B-5 0.00 0.00 11,~~853~~845.5608 0.00 2,~~030~~029,~~585~~115.8263 B-6 0.00 0.00 22,~~017~~002.9419 0.00 3,~~771~~769,~~803~~072.3344 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~800~~737,~~257~~807.4916 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 40,460,000.00 6.75000% ~~691~~490.~~07673134~~91020539 32.~~88730672~~76137000 0.00000000 0.00000000 A-2 27,775,724.00 4.70000% 1000.00000000 3.91666658 0.00000000 0.00000000 A-3 32,537,276.00 2.~~19000~~18688% 1000.00000000 1.~~82500004~~82239995 0.00000000 0.00000000 A-4 0.00 6.~~31000~~31312% 1000.00000000 5.~~25833324~~26093334 0.00000000 0.00000000 A-5 33,314,285.00 2.~~34000~~33688% ~~937~~896.~~46909111~~95225036 1.~~82806475~~74672487 0.00000000 0.00000000 A-6 0.00 6.~~16000~~16312% ~~937~~896.~~46909111~~95225036 4.~~81234131~~60668689 0.00000000 0.00000000 A-7 99,112,715.00 6.25000% 1000.00000000 5.20833336 0.00000000 0.00000000 A-8 0.00 0.50000% 1000.00000000 0.41666662 0.00000000 0.00000000 A-9 29,100,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000 A-10 0.00 0.50000% 1000.00000000 0.41666667 0.00000000 0.00000000 PO 1,505,268.84 0.00000% ~~985~~984.~~68188657~~43860699 0.00000000 0.00000000 0.00000000 X-1 0.00 0.~~86330~~86146% ~~949~~917.~~63232033~~05661361 0.~~68318405~~65834063 0.00000000 0.00000000 B-1 9,447,600.00 7.00000% ~~998~~997.~~59437741~~87990707 5.~~82513337~~82096617 0.00000000 0.00000000 B-2 5,232,500.00 7.00000% ~~998~~997.~~59437745~~87990827 5.~~82513330~~82096703 0.00000000 0.00000000 B-3 4,651,100.00 7.00000% ~~998~~997.~~59437767~~87990798 5.~~82513384~~82096708 0.00000000 0.00000000 B-4 1,744,200.00 7.00000% ~~998~~997.~~59437564~~87990483 5.~~82513473~~82096663 0.00000000 0.00000000 B-5 2,034,900.00 7.00000% ~~998~~997.~~59437810~~87990565 5.~~82513146~~82096418 0.00000000 0.00000000 B-6 3,779,816.00 7.00000% ~~998~~997.~~59461148~~88014284 5.~~82513540~~82096853 0.00000000 0.00000000 R-1 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 Per $1000 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 32.~~88730672~~76137000 0.00000000 ~~490~~200.~~91020539~~35491844 A-2 0.00000000 0.00000000 3.91666658 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 1.~~82500004~~82239995 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 5.~~25833324~~26093334 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 1.~~82806475~~74672487 0.00000000 ~~896~~838.~~95225036~~13930871 A-6 0.00000000 0.00000000 4.~~81234131~~60668689 0.00000000 ~~896~~838.~~95225036~~13930871 A-7 0.00000000 0.00000000 5.20833336 0.00000000 1000.00000000 A-8 0.00000000 0.00000000 0.41666662 0.00000000 1000.00000000 A-9 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000 A-10 0.00000000 0.00000000 0.41666667 0.00000000 1000.00000000 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~984~~972.~~43860699~~68944995 X-1 0.00000000 0.00000000 0.~~68318405~~65834063 0.00000000 ~~917~~869.~~05661361~~74837447 B-1 0.00000000 0.00000000 5.~~82513337~~82096617 0.00000000 997.~~87990707~~15741670 B-2 0.00000000 0.00000000 5.~~82513330~~82096703 0.00000000 997.~~87990827~~15741615 B-3 0.00000000 0.00000000 5.~~82513384~~82096708 0.00000000 997.~~87990798~~15741653 B-4 0.00000000 0.00000000 5.~~82513473~~82096663 0.00000000 997.~~87990483~~15741887 B-5 0.00000000 0.00000000 5.~~82513146~~82096418 0.00000000 997.~~87990565~~15741805 B-6 0.00000000 0.00000000 5.~~82513540~~82096853 0.00000000 997.~~88014284~~15765000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1115,~~328~~095,~~160~~227.3647 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4750,~~892~~656.8853 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1115,~~376~~145,~~053~~884.2400 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~106~~105,~~184~~785.9033 Payment of Interest and Principal 1115,~~269~~490,~~868~~098.3467 Total Withdrawals (Pool Distribution Amount) 1115,~~376~~595,~~053~~884.2400 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 95,~~971~~374.5191 Servicing Fee Support 95,~~971~~374.5191 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee ~~111~~106,~~555~~717.5415 Master Servicing Fee 4,~~600~~443.8709 Supported Prepayment/Curtailment Interest Shortfall 95,~~971~~374.5191 Net Servicing Fee ~~106~~105,~~184~~785.9033

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 65 0 0 0 65 32,~~118~~128,~~163~~315.5986 0.00 0.00 0.00 32,~~118~~128,~~163~~315.5986 60 Days 53 0 0 0 53 21,~~216~~938,~~854~~084.8541 0.00 0.00 0.00 21,~~216~~938,~~854~~084.8541 90 Days 23 0 0 0 23 ~~874~~1,~~387~~188,871.1480 0.00 0.00 0.00 ~~874~~1,~~387~~188,871.1480 120 Days 03 0 0 0 03 01,369,109.0062 0.00 0.00 0.00 01,369,109.0062 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 1314 0 0 0 1314 6,~~209~~624,~~405~~381.5869 0.00 0.00 0.00 6,~~209~~624,~~405~~381.5869 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 0.~~958466~~841751% 0.000000% 0.000000% 0.000000% 0.~~958466~~841751% 10.~~168872~~841214% 0.000000% 0.000000% 0.000000% 10.~~168872~~841214% 60 Days 0.~~798722~~505051% 0.000000% 0.000000% 0.000000% 0.~~798722~~505051% 0.~~831008~~766025% 0.000000% 0.000000% 0.000000% 0.~~831008~~766025% 90 Days 0.~~319489~~505051% 0.000000% 0.000000% 0.000000% 0.~~319489~~505051% 0.~~327772~~469900% 0.000000% 0.000000% 0.000000% 0.~~327772~~469900% 120 Days 0.~~000000~~505051% 0.000000% 0.000000% 0.000000% 0.~~000000~~505051% 0.~~000000~~541139% 0.000000% 0.000000% 0.000000% 0.~~000000~~541139% 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 2.~~076677~~356902% 0.000000% 0.000000% 0.000000% 2.~~076677~~356902% 2.~~327652~~618278% 0.000000% 0.000000% 0.000000% 2.~~327652~~618278%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4750,~~892~~656.8853

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 8.~~330610~~322926% Weighted Average Net Coupon 7.~~845680~~842551% Weighted Average Pass-Through Rate 7.~~825680~~822550% Weighted Average Maturity(Stepdown Calculation ) ~~340~~339 Beginning Scheduled Collateral Loan Count ~~648~~626 Number Of Loans Paid In Full 2232 Ending Scheduled Collateral Loan Count ~~626~~594 Beginning Scheduled Collateral Balance ~~276~~266,~~053~~584,~~827~~216.7993 Ending Scheduled Collateral Balance ~~266~~252,~~584~~831,~~216~~925.9342 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~266~~253,~~766~~005,~~928~~277.11 Monthly P &I Constant 2,~~116~~043,~~484~~578.5129 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~266~~252,~~584~~831,~~216~~925.9342 Scheduled Principal ~~198~~193,~~145~~649.7603 Unscheduled Principal 913,~~271~~558,~~465~~642.1048

Miscellaneous Reporting Senior Percent 9089.~~220232~~878209% Senior Prep Percent 100.000000% Subordinate Percent 910.~~779768~~121791% Subordinate Prep Percent 0.000000% Three Month Rolling Average 34,~~083~~483,~~453~~211.2292 Prepayment Penalties 0.00

Filing Compare · BEAR STEARNS ASSET BCK SEC TR AS-BCK CER SER 2002-AC2