8-K 1 sac02hf1.txt SEPTEMBER 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): September 25, 2002 STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-HF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82904-10 52-2365704 Pooling and Servicing Agreement) (Commission 52-2365705 (State or other File Number) 52-2365706 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 September 25, 2002 a distribution was made to holders of STRUCTURED ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-HF1 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 Pass-Through Certificates, Series 2002-HF1 Trust, relating to the September 25, 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. STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-HF1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/27/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-HF1 Trust, relating to the September 25, 2002 distribution. EX-99.1

Structured Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 78/31/02 Distribution Date: 89/2625/02 SASC Series: 2002-HF1 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 86358RL21 SEN 2.~~12688~~10000% ~~604~~590,~~211~~569,~~783~~074.3796 1,~~142~~033,~~298~~495.6388 1314,~~642~~540,~~708~~427.4128 A-IO 86358RL39 SEN 6.00000% 0.00 1,281,119.13 0.00 M-1 86358RL47 MEZ 2.~~48688~~46000% 54,177,000.00 ~~119~~111,~~761~~062.5185 0.00 M-2 86358RL54 MEZ 2.~~88688~~86000% 44,502,000.00 ~~114~~106,~~197~~063.2710 0.00 M-3 86358RL62 MEZ 3.~~73688~~71000% 27,088,000.00 8983,~~977~~747.4307 0.00 B 86358RL70 SUB 5.~~98688~~96000% 21,284,000.00 ~~113~~105,~~266~~710.4553 0.00 X SAC02HF1X SEN 0.00000% 5,805,406.00 2,~~648~~688,~~708~~438.0111 0.00 P SAC02HF1P SEN 0.00000% 0.00 ~~364~~383,~~546~~107.9759 0.00 R SAC02H1R1 RES 0.00000% 0.00 0.00 0.00 Totals ~~757~~743,~~068~~425,~~189~~480.3796 5,~~873~~792,~~875~~744.4026 1314,~~642~~540,~~708~~427.4128

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~590~~576,~~569~~028,~~074~~647.9668 1415,~~785~~573,~~007~~923.0416 0.00 A-IO 0.00 0.00 1,281,119.13 0.00 M-1 0.00 54,177,000.00 ~~119~~111,~~761~~062.5185 0.00 M-2 0.00 44,502,000.00 ~~114~~106,~~197~~063.2710 0.00 M-3 0.00 27,088,000.00 8983,~~977~~747.4307 0.00 B 0.00 21,284,000.00 ~~113~~105,~~266~~710.4553 0.00 X 0.00 5,805,406.00 2,~~648~~688,~~708~~438.0111 0.00 P 0.00 0.00 ~~364~~383,~~546~~107.9759 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~743~~728,~~425~~885,~~480~~053.9668 1920,~~516~~333,~~583~~171.8154 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 621,096,000.00 ~~604~~590,~~211~~569,~~783~~074.3796 0.00 1314,~~642~~540,~~708~~427.4128 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 54,177,000.00 54,177,000.00 0.00 0.00 0.00 0.00 M-2 44,502,000.00 44,502,000.00 0.00 0.00 0.00 0.00 M-3 27,088,000.00 27,088,000.00 0.00 0.00 0.00 0.00 B 21,284,000.00 21,284,000.00 0.00 0.00 0.00 0.00 X 5,805,406.00 5,805,406.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 773,952,406.00 ~~757~~743,~~068~~425,~~189~~480.3796 0.00 1314,~~642~~540,~~708~~427.4128 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 1314,~~642~~540,~~708~~427.4128 ~~590~~576,~~569~~028,~~074~~647.9668 0.~~95084991~~92743899 1314,~~642~~540,~~708~~427.4128 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 54,177,000.00 1.00000000 0.00 M-2 0.00 44,502,000.00 1.00000000 0.00 M-3 0.00 27,088,000.00 1.00000000 0.00 B 0.00 21,284,000.00 1.00000000 0.00 X 0.00 5,805,406.00 1.00000000 0.00 P 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 1314,~~642~~540,~~708~~427.4128 ~~743~~728,~~425~~885,~~480~~053.9668 0.~~96055710~~94176987 1314,~~642~~540,~~708~~427.4128

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 621,096,000.00 ~~972~~950.~~81544781~~84990881 0.00000000 2123.~~96553900~~41091760 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 54,177,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 44,502,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 27,088,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 21,284,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 5,805,406.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are 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 0.00000000 2123.~~96553900~~41091760 ~~950~~927.~~84990881~~43899120 0.~~95084991~~92743899 2123.~~96553900~~41091760 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 621,096,000.00 2.~~12688~~10000% ~~604~~590,~~211~~569,~~783~~074.3796 1,~~142~~033,~~298~~495.6388 0.00 0.00 A-IO 0.00 6.00000% 256,223,826.56 1,281,119.13 0.00 0.00 M-1 54,177,000.00 2.~~48688~~46000% 54,177,000.00 ~~119~~111,~~761~~062.5185 0.00 0.00 M-2 44,502,000.00 2.~~88688~~86000% 44,502,000.00 ~~114~~106,~~197~~063.2710 0.00 0.00 M-3 27,088,000.00 3.~~73688~~71000% 27,088,000.00 8983,~~977~~747.4307 0.00 0.00 B 21,284,000.00 5.~~98688~~96000% 21,284,000.00 ~~113~~105,~~266~~710.4553 0.00 0.00 X 5,805,406.00 0.00000% 5,805,406.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 773,952,406.00 2,~~860~~721,~~620~~198.4256 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 0.00 0.00 1,~~142~~033,~~298~~495.6388 0.00 ~~590~~576,~~569~~028,~~074~~647.9668 A-IO 0.00 0.00 1,281,119.13 0.00 256,223,826.56 M-1 0.00 0.00 ~~119~~111,~~761~~062.5185 0.00 54,177,000.00 M-2 0.00 0.00 ~~114~~106,~~197~~063.2710 0.00 44,502,000.00 M-3 0.00 0.00 8983,~~977~~747.4307 0.00 27,088,000.00 B 0.00 0.00 ~~113~~105,~~266~~710.4553 0.00 21,284,000.00 X 0.00 0.00 2,~~648~~688,~~708~~438.0111 0.00 5,805,406.00 P 0.00 0.00 ~~364~~383,~~546~~107.9759 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,~~873~~792,~~875~~744.4026 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 621,096,000.00 2.~~12688~~10000% ~~972~~950.~~81544781~~84990881 1.~~83916597~~66398734 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000219 5.00000000 0.00000000 0.00000000 M-1 54,177,000.00 2.~~48688~~46000% 1000.00000000 2.~~21056002~~05000000 0.00000000 0.00000000 M-2 44,502,000.00 2.~~88688~~86000% 1000.00000000 2.~~56611546~~38333333 0.00000000 0.00000000 M-3 27,088,000.00 3.~~73688~~71000% 1000.00000000 3.~~32167122~~09166679 0.00000000 0.00000000 B 21,284,000.00 5.~~98688~~96000% 1000.00000000 54.~~32167121~~96666651 0.00000000 0.00000000 X 5,805,406.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are 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 0.00000000 0.00000000 1.~~83916597~~66398734 0.00000000 ~~950~~927.~~84990881~~43899120 A-IO 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000219 M-1 0.00000000 0.00000000 2.~~21056002~~05000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~56611546~~38333333 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~32167122~~09166679 0.00000000 1000.00000000 B 0.00000000 0.00000000 54.~~32167121~~96666651 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~456~~463.~~24853972~~09217822 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 1920,~~226~~355,~~730~~702.3689 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~253~~299,~~053~~309.9293 Realized Losses 0.00 Prepayment Penalties ~~364,546~~0.9700 Total Deposits 1920,~~844~~655,~~331~~012.2582 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~327~~321,~~747~~841.4428 Payment of Interest and Principal 1920,~~516~~333,~~583~~171.8154 Total Withdrawals (Pool Distribution Amount) 1920,~~844~~655,~~331~~012.2582 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~315~~309,~~445~~760.0862 Credit Risk Manager Fee 9,~~463~~292.3582 Trustee Fee 2,~~839~~787.0184 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~327~~321,~~747~~841.4428

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 01 0 0 01 055,712.0078 0.00 0.00 055,712.0078 30 Days ~~259~~263 0 0 0 ~~259~~263 27,~~241~~569,~~366~~352.0039 0.00 0.00 0.00 27,~~241~~569,~~366~~352.0039 60 Days 2739 0 01 0 2740 24,~~344~~532,~~280~~423.6654 0.00 0229,426.0026 0.00 24,~~344~~761,~~280~~849.6680 90 Days 126 03 0 0 129 ~~195~~2,~~478~~485,954.6684 0228,795.0076 0.00 0.00 ~~195~~2,~~478~~714,750.6660 120 Days 12 0 0 0 12 76225,~~523~~266.8955 0.00 0.00 0.00 76225,~~523~~266.8955 150 Days 01 0 0 0 01 076,523.0089 0.00 0.00 0.00 076,523.0089 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~288~~331 04 01 0 ~~288~~336 2934,~~857~~889,~~649~~521.21 0284,508.0054 0229,426.0026 0.00 2935,~~857~~403,~~649~~456.2101 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~~016466% 0.000000% 0.000000% 0.~~000000~~016466% 0.~~000000~~007640% 0.000000% 0.000000% 0.~~000000~~007640% 30 Days 4.~~188905~~330644% 0.000000% 0.000000% 0.000000% 4.~~188905~~330644% 3.~~662672~~780722% 0.000000% 0.000000% 0.000000% 3.~~662672~~780722% 60 Days 0.~~436681~~642187% 0.000000% 0.~~000000~~016466% 0.000000% 0.~~436681~~658653% 0.~~315195~~621554% 0.000000% 0.~~000000~~031462% 0.000000% 0.~~315195~~653016% 90 Days 0.~~016173~~428124% 0.~~000000~~049399% 0.000000% 0.000000% 0.~~016173~~477523% 0.~~026283~~340911% 0.~~000000~~031376% 0.000000% 0.000000% 0.~~026283~~372287% 120 Days 0.~~016173~~032933% 0.000000% 0.000000% 0.000000% 0.~~016173~~032933% 0.~~010289~~030892% 0.000000% 0.000000% 0.000000% 0.~~010289~~030892% 150 Days 0.~~000000~~016466% 0.000000% 0.000000% 0.000000% 0.~~000000~~016466% 0.~~000000~~010494% 0.000000% 0.000000% 0.000000% 0.~~000000~~010494% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 45.~~657933~~450354% 0.~~000000~~065865% 0.~~000000~~016466% 0.000000% 45.~~657933~~532686% 4.~~014438~~784574% 0.~~000000~~039016% 0.~~000000~~031462% 0.000000% 4.~~014438~~855052%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~253~~299,~~053~~309.9293

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 9.~~252127~~251463% Weighted Average Net Coupon 8.~~752127~~751463% Weighted Average Pass-Through Rate 8.~~747627~~746963% Weighted Average Maturity(Stepdown Calculation ) ~~324~~323 Beginning Scheduled Collateral Loan Count 6,~~274~~183 Number Of Loans Paid In Full 91110 Ending Scheduled Collateral Loan Count 6,~~183~~073 Beginning Scheduled Collateral Balance ~~757~~743,~~068~~425,~~189~~480.3796 Ending Scheduled Collateral Balance ~~743~~728,~~425~~885,~~480~~053.9668 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2002 ~~743~~729,~~756~~208,~~554~~581.0554 Monthly P &I Constant 6,~~330~~221,~~737~~353.0917 Special Servicing Fee 0.00 Prepayment Penalties ~~364,546~~0.9700 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~743~~728,~~425~~885,~~480~~053.9668 Scheduled Principal ~~493~~489,~~661~~875.2221 Unscheduled Principal 1314,~~149~~050,~~047~~552.1907 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 5,805,406.00 Overcollateralized Amount 5,805,406.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,~~648~~688,~~708~~438.0111

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERT SER 2002 HF1