8-K 1 bsa01ac1.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 2001-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-02 Pooling and Servicing Agreement) (Commission 52-2316422 (State or other File Number) 52-2316423 jurisdiction 52-2316421 of Incorporation) IRS EIN 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 2001-AC1 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 2001-AC1 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 2001-AC1 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: 9/5/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2001-AC1 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: 2001-AC1 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-IO 07384YAS5 IO 8.00000% 0.00 161,333.33 0.00 I-A1 07384YAM8 SEN 1.~~99000~~98688% 139,~~972~~931,~~476~~351.1605 2317,~~171~~539.0291 4,~~041~~258,~~125~~899.1106 I-A2 07384YAN6 SEN 5.64000% 40,056,000.00 188,263.20 0.00 I-A3 07384YAP1 SEN 6.35000% 16,107,000.00 85,232.88 0.00 I-A4 07384YAQ9 SEN 6.90000% 24,405,000.00 140,328.75 0.00 I-A5 07384YAW6 SEN 7.~~43000~~34075% 13,250,000.00 8281,~~039~~054.5806 0.00 II-A 07384YAR7 SEN 7.00000% 6562,~~929~~022,~~148~~900.9827 ~~384~~361,~~586~~800.7025 35,~~906~~842,~~248~~702.7167 M-1 07384YAT3 SUB 6.85000% 4,841,000.00 27,634.04 0.00 M-2 07384YAU0 SUB 7.00000% 4,236,000.00 24,710.00 0.00 B 07384YAV8 SUB 7.00000% 3,025,000.00 17,645.83 0.00 B-IO BSA1ACBIO IO 0.00000% 605,159.64 ~~182~~116,~~599~~572.2236 0.00 P BSA01AC1P SUB 0.00000% 100.00 ~~7,757~~0.4400 0.00 R-1 BSA01ACR1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA01ACR2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA01ACR3 RES 0.00000% 0.00 0.00 0.00 Totals ~~186~~178,~~426~~479,~~884~~510.7896 1,~~325~~222,~~301~~114.9961 710,~~947~~101,~~373~~601.8273

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 161,333.33 0.00 I-A1 0.00 95,~~931~~672,~~351~~451.0599 4,~~064~~276,~~296~~438.1397 0.00 I-A2 0.00 40,056,000.00 188,263.20 0.00 I-A3 0.00 16,107,000.00 85,232.88 0.00 I-A4 0.00 24,405,000.00 140,328.75 0.00 I-A5 0.00 13,250,000.00 8281,~~039~~054.5806 0.00 II-A 0.00 6256,~~022~~180,~~900~~197.2760 46,~~290~~204,~~835~~502.4192 0.00 M-1 0.00 4,841,000.00 27,634.04 0.00 M-2 0.00 4,236,000.00 24,710.00 0.00 B 0.00 3,025,000.00 17,645.83 0.00 B-IO 0.00 605,159.64 ~~182~~116,~~599~~572.2236 0.00 P 0.00 100.00 ~~7,757~~0.4400 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~178~~168,~~479~~377,~~510~~909.9623 911,~~272~~323,~~675~~716.8134 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-IO 0.00 0.00 0.00 0.00 0.00 0.00 I-A1 38,552,000.00 139,~~972~~931,~~476~~351.1605 0.00 4,~~041~~258,~~125~~899.1106 0.00 0.00 I-A2 40,056,000.00 40,056,000.00 0.00 0.00 0.00 0.00 I-A3 16,107,000.00 16,107,000.00 0.00 0.00 0.00 0.00 I-A4 24,405,000.00 24,405,000.00 0.00 0.00 0.00 0.00 I-A5 13,250,000.00 13,250,000.00 0.00 0.00 0.00 0.00 II-A 97,591,000.00 6562,~~929~~022,~~148~~900.9827 0.00 35,~~906~~842,~~248~~702.7167 0.00 0.00 M-1 4,841,000.00 4,841,000.00 0.00 0.00 0.00 0.00 M-2 4,236,000.00 4,236,000.00 0.00 0.00 0.00 0.00 B 3,025,000.00 3,025,000.00 0.00 0.00 0.00 0.00 B-IO 756.67 605,159.64 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 242,063,856.67 ~~186~~178,~~426~~479,~~884~~510.7896 0.00 710,~~947~~101,~~373~~601.8273 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-IO 0.00 0.00 0.00000000 0.00 I-A1 4,~~041~~258,~~125~~899.1106 95,~~931~~672,~~351~~451.0599 0.~~25760923~~14713768 4,~~041~~258,~~125~~899.1106 I-A2 0.00 40,056,000.00 1.00000000 0.00 I-A3 0.00 16,107,000.00 1.00000000 0.00 I-A4 0.00 24,405,000.00 1.00000000 0.00 I-A5 0.00 13,250,000.00 1.00000000 0.00 II-A 35,~~906~~842,~~248~~702.7167 6256,~~022~~180,~~900~~197.2760 0.~~63553914~~57566986 35,~~906~~842,~~248~~702.7167 M-1 0.00 4,841,000.00 1.00000000 0.00 M-2 0.00 4,236,000.00 1.00000000 0.00 B 0.00 3,025,000.00 1.00000000 0.00 B-IO 0.00 605,159.64 799.76692614 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 710,~~947~~101,~~373~~601.8273 ~~178~~168,~~479~~377,~~510~~909.9623 0.~~73732408~~69559294 710,~~947~~101,~~373~~601.8273

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 38,552,000.00 ~~362~~257.~~43194024~~60923039 0.00000000 ~~104~~110.~~82270985~~47154648 0.00000000 I-A2 40,056,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 16,107,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 24,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 13,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A 97,591,000.00 ~~675~~635.~~56587165~~53914060 0.00000000 4059.~~02673105~~86927760 0.00000000 M-1 4,841,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,236,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 756.67 799766.92613689 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 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-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 0.00000000 ~~104~~110.~~82270985~~47154648 ~~257~~147.~~60923039~~13768391 0.~~25760923~~14713768 ~~104~~110.~~82270985~~47154648 I-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A 0.00000000 4059.~~02673105~~86927760 ~~635~~575.~~53914060~~66986300 0.~~63553914~~57566986 4059.~~02673105~~86927760 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 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 799,766.92613689 799.76692614 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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-IO 0.00 8.00000% 24,200,000.00 161,333.33 0.00 0.00 I-A1 38,552,000.00 1.~~99000~~98688% 0.00 2317,~~171~~539.0291 0.00 0.00 I-A2 40,056,000.00 5.64000% 0.00 188,263.20 0.00 0.00 I-A3 16,107,000.00 6.35000% 0.00 85,232.88 0.00 0.00 I-A4 24,405,000.00 6.90000% 0.00 140,328.75 0.00 0.00 I-A5 13,250,000.00 7.~~43000~~34075% 0.00 8281,~~039~~054.5806 0.00 0.00 II-A 97,591,000.00 7.00000% 0.00 ~~384~~361,~~586~~800.7025 0.00 0.00 M-1 4,841,000.00 6.85000% 0.00 27,634.04 0.00 0.00 M-2 4,236,000.00 7.00000% 0.00 24,710.00 0.00 0.00 B 3,025,000.00 7.00000% 0.00 17,645.83 0.00 0.00 B-IO 756.67 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 0.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 242,063,856.67 1,~~134~~105,~~945~~542.3325 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-IO 0.00 0.00 161,333.33 0.00 24,200,000.00 I-A1 0.00 0.00 2317,~~171~~539.0291 0.00 0.00 I-A2 0.00 0.00 188,263.20 0.00 0.00 I-A3 0.00 0.00 85,232.88 0.00 0.00 I-A4 0.00 0.00 140,328.75 0.00 0.00 I-A5 0.00 0.00 8281,~~039~~054.5806 0.00 0.00 II-A 0.00 0.00 ~~384~~361,~~586~~800.7025 0.00 0.00 M-1 0.00 0.00 27,634.04 0.00 0.00 M-2 0.00 0.00 24,710.00 0.00 0.00 B 0.00 0.00 17,645.83 0.00 0.00 B-IO 0.00 0.00 ~~182~~116,~~599~~572.2236 0.00 0.00 P 0.00 0.00 ~~7,757~~0.4400 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~325~~222,~~301~~114.9961 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-IO 0.00 8.00000% 1000.00000000 6.66666653 0.00000000 0.00000000 I-A1 38,552,000.00 1.~~99000~~98688% 0.00000000 0.~~60103289~~45496758 0.00000000 0.00000000 I-A2 40,056,000.00 5.64000% 0.00000000 4.70000000 0.00000000 0.00000000 I-A3 16,107,000.00 6.35000% 0.00000000 5.29166698 0.00000000 0.00000000 I-A4 24,405,000.00 6.90000% 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 13,250,000.00 7.~~43000~~34075% 0.00000000 6.~~19166642~~11728755 0.00000000 0.00000000 II-A 97,591,000.00 7.00000% 0.00000000 3.~~94080089~~70731164 0.00000000 0.00000000 M-1 4,841,000.00 6.85000% 0.00000000 5.70833299 0.00000000 0.00000000 M-2 4,236,000.00 7.00000% 0.00000000 5.83333333 0.00000000 0.00000000 B 3,025,000.00 7.00000% 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 756.67 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 All denominations are per $1,000.

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-IO 0.00000000 0.00000000 6.66666653 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 0.~~60103289~~45496758 0.00000000 0.00000000 I-A2 0.00000000 0.00000000 4.70000000 0.00000000 0.00000000 I-A3 0.00000000 0.00000000 5.29166698 0.00000000 0.00000000 I-A4 0.00000000 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 0.00000000 0.00000000 6.~~19166642~~11728755 0.00000000 0.00000000 II-A 0.00000000 0.00000000 3.~~94080089~~70731164 0.00000000 0.00000000 M-1 0.00000000 0.00000000 5.70833299 0.00000000 0.00000000 M-2 0.00000000 0.00000000 5.83333333 0.00000000 0.00000000 B 0.00000000 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 ~~241319~~154059.~~49198462~~70898807 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~77574~~0.~~40000000~~00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 911,~~205~~270,~~046~~934.5776 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~105~~119,~~180~~711.6514 Realized Losses 0(31,029.0020) Prepayment Penalties 0.00 Total Deposits 911,~~310~~359,~~227~~616.2270 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 3735,~~551~~900.4136 Payment of Interest and Principal 911,~~272~~323,~~675~~716.8134 Total Withdrawals (Pool Distribution Amount) 911,~~310~~359,~~227~~616.2270 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1,~~287~~282.5287 Servicing Fee Support 1,~~287~~282.5287 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 3837,~~838~~183.9323 Trustee Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 1,~~287~~282.5287 Net Servicing Fee 3735,~~551~~900.4136

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 53 0 0 53 ~~786~~476,~~680~~898.4877 0.00 0.00 ~~786~~476,~~680~~898.4877 30 Days 2827 0 0 0 2827 64,~~237~~769,~~471~~141.0311 0.00 0.00 0.00 64,~~237~~769,~~471~~141.0311 60 Days 618 0 1 0 70 119 4,~~176~~293,~~157~~428.0953 160,722.82 0.00 ~~104,031.20~~ 0.00 14,~~280~~454,~~188~~151.2935 90 Days 13 0 31 0 4 ~~533~~522,~~406~~495.1292 0.00 ~~372~~104,~~676~~031.1120 0.00 ~~906~~626,~~082~~527.2312 120 Days 21 0 34 0 5 ~~218~~108,~~784~~436.4601 0.00 ~~452~~906,~~114~~082.4623 0.00 ~~670~~1,~~898~~014,518.9224 150 Days 32 0 53 0 85 ~~585~~228,~~628~~099.9773 0.00 ~~989~~452,~~194~~114.2046 0.00 1680,~~574,823~~214.1719 180+ Days 42 01 11 5 419 ~~13 1~~557,~~118,196~~807.1824 0153,472.0099 ~~827~~1,~~298~~975,476.7682 ~~718~~668,~~902~~386.7688 23,~~664~~355,~~397~~143.7093 Totals 4453 5 1719 45 7082 910,~~869~~479,~~643~~408.8554 ~~786~~791,~~680~~094.4858 23,~~745~~437,~~314~~704.7371 ~~718~~668,~~902~~386.7688 1415,~~120~~376,~~541~~594.8271 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.~~492611~~308325% 0.000000% 0.000000% 0.~~492611~~308325% 0.~~440366~~282974% 0.000000% 0.000000% 0.~~440366~~282974% 30 Days 2.~~758621~~774923% 0.000000% 0.000000% 0.000000% 2.~~758621~~774923% 32.~~491596~~829829% 0.000000% 0.000000% 0.000000% 32.~~491596~~829829% 60 Days 01.~~591133~~849949% 0.~~000000~~102775% 0.~~098522~~000000% 0.000000% 01.~~689655~~952724% 02.~~658386~~547559% 0.~~000000~~095367% 0.~~058234~~000000% 0.000000% 02.~~716621~~642926% 90 Days 0.~~098522~~308325% 0.000000% 0.~~295567~~102775% 0.000000% 0.~~394089~~411100% 0.~~298589~~310029% 0.000000% 0.~~208616~~061728% 0.000000% 0.~~507204~~371758% 120 Days 0.~~197044~~102775% 0.000000% 0.~~295567~~411100% 0.000000% 0.~~492611~~513875% 0.~~122471~~064342% 0.000000% 0.~~253084~~537635% 0.000000% 0.~~375554~~601977% 150 Days 0.~~295567~~205550% 0.000000% 0.~~492611~~308325% 0.000000% 0.~~788177~~513875% 0.~~327822~~135346% 0.000000% 0.~~553729~~268268% 0.000000% 0.~~881551~~403614% 180+ Days 0.~~394089~~205550% 0.~~000000~~102775% 01.~~492611~~130524% 0.~~394089~~513875% 1.~~280788~~952724% 0.~~625941~~330982% 0.~~000000~~091065% 01.~~463103~~172174% 0.~~402426~~396596% 1.~~491470~~990816% Totals 45.~~334975~~447071% 0.~~492611~~513875% 1.~~674877~~952724% 0.~~394089~~513875% 68.~~896552~~427544% 56.~~524805~~218087% 0.~~440366~~469406% 12.~~536765~~039805% 0.~~402426~~396596% 79.~~904362~~123893% Delinquencies are stratified according to the information provided by the servicer. All 90 day delinquencies reported are actually 90+ day delinquencies.

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 53 0 0 53 ~~786~~476,~~680~~898.4877 0.00 0.00 ~~786~~476,~~680~~898.4877 30 Days 21 0 0 0 21 32,~~360~~547,~~524~~927.6890 0.00 0.00 0.00 32,~~360~~547,~~524~~927.6890 60 Days 512 0 1 0 60 ~~722~~13 1,~~150~~833,199.9245 160,722.82 0.00 ~~104,031.20~~ 0.00 ~~826~~1,~~182~~993,922.1227 90 Days 03 0 31 0 34 0522,495.0092 0.00 ~~372~~104,~~676~~031.1120 0.00 ~~372~~626,~~676~~527.1112 120 Days 21 0 23 0 4 ~~218~~108,~~784~~436.4601 0.00 ~~130~~372,~~051~~676.8311 0.00 ~~348~~481,~~836~~112.2912 150 Days 2 0 32 0 54 ~~242~~228,~~977~~099.0673 0.00 ~~346~~130,~~423~~051.7983 0.00 ~~589~~358,~~400~~151.8556 180 Days 31 01 8 4 314 ~~10 497~~215,~~396~~155.1833 0153,472.0099 ~~516~~1,~~077~~021,485.6227 ~~323~~272,~~192~~676.2032 1,~~336~~662,~~666~~789.0091 Totals 3340 5 1314 34 5463 5,~~041~~455,~~833~~314.3034 ~~786~~791,~~680~~094.4858 1,~~469~~628,~~260~~244.5541 ~~323~~272,~~192~~676.2032 78,~~620~~147,~~966~~329.5365 0-29 Days 0.~~586166~~364078% 0.000000% 0.000000% 0.~~586166~~364078% 0.~~708804~~446926% 0.000000% 0.000000% 0.~~708804~~446926% 30 Days 2.~~461899~~548544% 0.000000% 0.000000% 0.000000% 2.~~461899~~548544% 32.~~027853~~387791% 0.000000% 0.000000% 0.000000% 32.~~027853~~387791% 60 Days 01.~~586166~~456311% 0.~~000000~~121359% 0.~~117233~~000000% 0.000000% 01.~~703400~~577670% 01.~~650662~~717983% 0.~~000000~~150621% 0.~~093733~~000000% 0.000000% 01.~~744395~~868604% 90 Days 0.~~000000~~364078% 0.000000% 0.~~351700~~121359% 0.000000% 0.~~351700~~485437% 0.~~000000~~489657% 0.000000% 0.~~335783~~097493% 0.000000% 0.~~335783~~587150% 120 Days 0.~~234467~~121359% 0.000000% 0.~~234467~~364078% 0.000000% 0.~~468933~~485437% 0.~~197126~~101621% 0.000000% 0.~~117177~~349253% 0.000000% 0.~~314304~~450874% 150 Days 0.~~234467~~242718% 0.000000% 0.~~351700~~242718% 0.000000% 0.~~586166~~485437% 0.~~218924~~213764% 0.000000% 0.~~312130~~121878% 0.000000% 0.~~531054~~335642% 180 Days 0.~~351700~~121359% 0.~~000000~~121359% 0.~~468933~~970874% 0.~~351700~~485437% 1.~~172333~~699029% 0.~~448157~~201633% 0.~~000000~~143827% 0.~~464989~~957285% 0.~~291198~~255539% 1.~~204344~~558284% Totals 34.~~868699~~854369% 0.~~586166~~606796% 1.~~524033~~699029% 0.~~351700~~485437% 67.~~330598~~645631% 45.~~542722~~112448% 0.~~708804~~741374% 1.~~323812~~525909% 0.~~291198~~255539% 67.~~866536~~635271% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 76 0 0 0 76 2,~~876~~221,~~946~~213.3521 0.00 0.00 0.00 2,~~876~~221,~~946~~213.3521 60 Days 16 0 0 0 16 ~~454~~2,~~006~~460,229.1708 0.00 0.00 0.00 ~~454~~2,~~006~~460,229.1708 90 Days 10 0 0 0 10 ~~533,406~~0.1200 0.00 0.00 0.00 ~~533,406~~0.1200 120 Days 0 0 1 0 1 0.00 0.00 ~~322~~533,~~062~~406.6312 0.00 ~~322~~533,~~062~~406.6312 150 Days 10 0 21 0 31 ~~342,651~~0.9100 0.00 ~~642~~322,~~770~~062.4163 0.00 ~~985~~322,~~422~~062.3263 180 Days 1 0 13 1 35 ~~620~~342,~~800~~651.0091 0.00 ~~311~~953,~~221~~991.1455 395,710.56 1,~~327~~692,~~731~~354.7002 Totals 1113 0 45 1 1619 45,~~827~~024,~~810~~094.5520 0.00 1,~~276~~809,~~054~~460.1830 395,710.56 67,~~499~~229,~~575~~265.2906 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.~~320988~~026846% 0.000000% 0.000000% 0.000000% 4.~~320988~~026846% 43.~~252357~~592767% 0.000000% 0.000000% 0.000000% 43.~~252357~~592767% 60 Days 04.~~617284~~026846% 0.000000% 0.000000% 0.000000% 04.~~617284~~026846% 03.~~671057~~979370% 0.000000% 0.000000% 0.000000% 03.~~671057~~979370% 90 Days 0.~~617284~~000000% 0.000000% 0.000000% 0.000000% 0.~~617284~~000000% 0.~~788417~~000000% 0.000000% 0.000000% 0.000000% 0.~~788417~~000000% 120 Days 0.000000% 0.000000% 0.~~617284~~671141% 0.000000% 0.~~617284~~671141% 0.000000% 0.000000% 0.~~476034~~862774% 0.000000% 0.~~476034~~862774% 150 Days 0.~~617284~~000000% 0.000000% 10.~~234568~~671141% 0.000000% 10.~~851852~~671141% 0.~~506467~~000000% 0.000000% 0.~~950066~~520930% 0.000000% 10.~~456533~~520930% 180 Days 0.~~617284~~671141% 0.000000% 02.~~617284~~013423% 0.~~617284~~671141% 13.~~851852~~355705% 0.~~917592~~554232% 0.000000% 01.~~460010~~543062% 0.~~584892~~640054% 12.~~962494~~737348% Totals 68.~~790123~~724832% 0.000000% 23.~~469136~~355705% 0.~~617284~~671141% 912.~~876543~~751678% 78.~~135890~~126370% 0.000000% 12.~~886110~~926765% 0.~~584892~~640054% 911.~~606893~~693189%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~105~~119,~~180~~711.6514

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~730823~~675463% Weighted Average Net Coupon 8.~~480823~~425463% Weighted Average Pass-Through Rate 8.~~530757~~425463% Weighted Average Maturity(Stepdown Calculation ) ~~323~~322 Beginning Scheduled Collateral Loan Count 1,~~050~~015 Number Of Loans Paid In Full 3542 Ending Scheduled Collateral Loan Count ~~1,015~~973 Beginning Scheduled Collateral Balance ~~186~~178,~~426~~479,~~884~~510.7896 Ending Scheduled Collateral Balance ~~178~~168,~~479~~377,~~510~~909.9623 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~178~~168,~~642~~531,~~399~~070.8242 Monthly P &I Constant 1,~~485~~420,~~792~~972.7930 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 031,029.0020 Cumulative Realized Loss 031,029.0020 Ending Scheduled Balance for Premium Loans ~~178~~168,~~479~~377,~~510~~909.9623 Scheduled Principal ~~129~~124,~~409~~026.3050 Unscheduled Principal 79,~~817~~977,~~964~~575.5223 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 031,029.0020 Overcollateralized reduction Amount 0.00 Specified O/C Amount 605,159.64 Overcollateralized Amount 605,159.64 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 031,029.0020 Excess Cash Amount ~~190~~147,~~356~~601.6656

Miscellaneous Reporting 3 Month Rolling Delinquency Average 4.~~042447~~468766%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~799518~~794738 8.~~620389~~479766 8.~~730823~~675463 Weighted Average Net Rate 8.~~549518~~544738 8.~~370389~~229766 8.~~480823~~425463 Weighted Average Maturity ~~317~~316 ~~331~~330 ~~323~~322 Beginning Loan Count ~~878~~853 ~~172~~162 1,~~050~~015 Loans Paid In Full 2529 1013 3542 Ending Loan Count ~~853~~824 ~~162~~149 ~~1,015~~973 Beginning Scheduled Balance ~~114~~110,~~933~~892,~~475~~350.6655 7167,~~493~~587,~~409~~160.1241 ~~186~~178,~~426~~479,~~884~~510.7896 Ending scheduled Balance ~~110~~106,~~892~~615,~~350~~504.5540 6761,~~587~~762,~~160~~404.4183 ~~178~~168,~~479~~377,~~510~~909.9623 Record Date 0607/3031/2002 0607/3031/2002 0607/3031/2002 Principal And Interest Constant ~~924~~891,~~038~~987.4050 ~~561~~528,~~754~~984.3980 1,~~485~~420,~~792~~972.7930 Scheduled Principal 8179,~~239~~263.0523 4844,~~170~~763.2527 ~~129~~124,~~409~~026.3050 Unscheduled Principal 34,~~959~~197,~~886~~582.0692 35,~~858~~779,~~078~~992.4631 79,~~817~~977,~~964~~575.5223 Scheduled Interest ~~850~~812,~~556~~724.7927 ~~513~~477,~~584~~602.1478 1,~~364~~290,~~140~~327.9305 Servicing Fees 23,~~944~~102.4757 14,~~894~~080.4666 3837,~~838~~183.9323 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 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 ~~826~~789,~~612~~621.3270 ~~498~~463,~~689~~522.6812 1,~~325~~253,~~302~~143.0082 Realized Loss Amount 031,029.0020 0.00 031,029.0020 Cumulative Realized Loss 031,029.0020 0.00 031,029.0020 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.~~630512~~544738 8.~~370389~~229766 8.~~530757~~425463

Filing Compare · BEAR STEARNS AS BCK SEC TR 2001-AC1 AS-BCK CER SER 2001-AC1