8-K 1 wfm02001.txt OCTOBER 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): October 25, 2002 WELLS FARGO ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-74308-01 52-2379794 Pooling and Servicing Agreement) (Commission 74-3040754 (State or other File Number) IRS EIN jurisdiction 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 October 25, 2002 a distribution was made to holders of WELLS FARGO ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-1 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 2002-1 Trust, relating to the October 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. WELLS FARGO ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-1 Trust By: Wells Fargo Bank Minnesota, NA, as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/31/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the October 25, 2002 distribution. EX-99.1

Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 89/3130/02 ~~Distribution Date: 9~~10/25/02 Distribution Date: WFMBS Series: 2002-1 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-PO 94978CAC8 PO 0.00000% 1,~~031~~028,~~258~~540.0304 0.00 21,~~717~~850.9907 A-1 94978CAA2 SEQ 6.00000% ~~153~~149,~~506~~419,~~238~~739.2300 ~~767~~747,~~531~~098.1970 43,~~086~~399,~~499~~425.2264 A-2 94978CAB0 SEQ 6.00000% 54,604,000.00 273,020.00 0.00 A-R 94978CAD6 RES 6.00000% 0.00 4923.4234 0.00 B-1 94978CAE4 SUB 6.00000% 2,~~910~~907,~~106~~357.9295 14,~~550~~536.5379 2,~~748~~776.98 B-2 94978CAF1 SUB 6.00000% 1,~~343~~342,~~279~~010.1322 6,~~716~~710.4005 1,~~268~~281.9083 B-3 94978CAG9 SUB 6.00000% 1,~~007~~006,~~459~~507.3467 5,~~037~~032.3054 ~~951~~961.6837 B-4 94978CAH7 SUB 6.00000% ~~448~~447,~~090~~667.8961 2,~~240~~238.4534 ~~423~~427.2859 B-5 94978CAJ3 SUB 6.00000% 335,~~819~~502.7856 1,~~679~~677.1051 ~~317~~320.2346 B-6 94978CAK0 SUB 6.00000% ~~448~~447,~~392~~968.4487 2,~~241~~239.9684 ~~423~~427.5788 Totals ~~215~~211,~~634~~539,~~644~~293.7692 1,~~073~~052,~~066~~577.3511 43,~~095~~407,~~350~~471.8582

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-PO 0.00 1,~~028~~026,~~540~~689.0496 21,~~717~~850.9907 0.00 A-1 0.00 ~~149~~146,~~419~~020,~~739~~313.0037 4,~~854~~146,~~030~~524.4134 0.00 A-2 0.00 54,604,000.00 273,020.00 0.00 A-R 0.00 0.00 4923.4234 0.00 B-1 0.00 2,~~907~~904,~~357~~580.9596 17,~~299~~313.5177 0.00 B-2 0.00 1,~~342~~340,~~010~~728.2239 7,~~985~~991.3088 0.00 B-3 0.00 1,~~006~~005,~~507~~546.6729 5,~~988~~993.9891 0.00 B-4 0.00 447,~~667~~240.6102 2,~~663~~665.7393 0.00 B-5 0.00 335,~~502~~182.5610 1,~~996~~997.3397 0.00 B-6 0.00 447,~~968~~540.8799 2,~~665~~667.5372 0.00 Totals 0.00 ~~211~~208,~~539~~131,~~293~~822.9208 54,~~168~~460,~~417~~048.2093 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-PO 1,041,073.37 1,~~031~~028,~~258~~540.0304 1,~~074~~081.3558 ~~1,643~~768.6449 0.00 0.00 A-1 163,161,000.00 ~~153~~149,~~506~~419,~~238~~739.2300 ~~196~~194,~~587~~874.4676 3,~~889~~204,~~911~~550.7788 0.00 0.00 A-2 54,604,000.00 54,604,000.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 B-1 2,929,000.00 2,~~910~~907,~~106~~357.9295 2,~~748~~776.98 0.00 0.00 0.00 B-2 1,352,000.00 1,~~343~~342,~~279~~010.1322 1,~~268~~281.9083 0.00 0.00 0.00 B-3 1,014,000.00 1,~~007~~006,~~459~~507.3467 ~~951~~961.6837 0.00 0.00 0.00 B-4 451,000.00 ~~448~~447,~~090~~667.8961 ~~423~~427.2859 0.00 0.00 0.00 B-5 338,000.00 335,~~819~~502.7856 ~~317~~320.2346 0.00 0.00 0.00 B-6 451,303.50 ~~448~~447,~~392~~968.4487 ~~423~~427.5788 0.00 0.00 0.00 Totals 225,341,476.87 ~~215~~211,~~634~~539,~~644~~293.7692 ~~203~~202,~~795~~152.45 3,~~891~~205,~~555~~319.4137 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-PO 21,~~717~~850.9907 1,~~028~~026,~~540~~689.0496 0.~~98796115~~98618406 21,~~717~~850.9907 A-1 43,~~086~~399,~~499~~425.2264 ~~149~~146,~~419~~020,~~739~~313.0037 0.~~91578097~~89494618 43,~~086~~399,~~499~~425.2264 A-2 0.00 54,604,000.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 2,~~748~~776.98 2,~~907~~904,~~357~~580.9596 0.~~99261111~~99166301 2,~~748~~776.98 B-2 1,~~268~~281.9083 1,~~342~~340,~~010~~728.2239 0.~~99261111~~99166301 1,~~268~~281.9083 B-3 ~~951~~961.6837 1,~~006~~005,~~507~~546.6729 0.~~99261111~~99166301 ~~951~~961.6837 B-4 ~~423~~427.2859 447,~~667~~240.6102 0.~~99261111~~99166302 ~~423~~427.2859 B-5 ~~317~~320.2346 335,~~502~~182.5610 0.~~99261112~~99166302 ~~317~~320.2346 B-6 ~~423~~427.5788 447,~~968~~540.8799 0.~~99261111~~99166302 ~~423~~427.5788 Totals 43,~~095~~407,~~350~~471.8582 ~~211~~208,~~539~~131,~~293~~822.9208 0.~~93874992~~92362855 43,~~095~~407,~~350~~471.8582

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-PO 1,041,073.37 ~~990~~987.~~57190369~~96114629 1.~~03196377~~03890853 10.~~57879363~~73817084 0.00000000 A-1 163,161,000.00 ~~940~~915.~~82677987~~78097094 1.~~20486795~~19437096 2319.~~84094097~~64042191 0.00000000 A-2 54,604,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,929,000.00 ~~993~~992.~~54964834~~61111301 0.~~93853875~~94809833 0.00000000 0.00000000 B-2 1,352,000.00 ~~993~~992.~~54965237~~61110947 0.~~93853550~~94809911 0.00000000 0.00000000 B-3 1,014,000.00 ~~993~~992.~~54964497~~61111440 0.~~93854043~~94809665 0.00000000 0.00000000 B-4 451,000.00 ~~993~~992.~~54964523~~61110865 0.~~93853659~~94809313 0.00000000 0.00000000 B-5 338,000.00 ~~993~~992.~~54964497~~61112426 0.~~93855030~~94810651 0.00000000 0.00000000 B-6 451,303.50 ~~993~~992.~~54966226~~61111425 0.~~93854801~~94809812 0.00000000 0.00000000 (2) 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-PO 0.00000000 21.~~61075740~~77707936 ~~987~~986.~~96114629~~18405733 0.~~98796115~~98618406 21.~~61075740~~77707936 A-1 0.00000000 2520.~~04580886~~83479287 ~~915~~894.~~78097094~~94617813 0.~~91578097~~89494618 2520.~~04580886~~83479287 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~93853875~~94809833 ~~992~~991.~~61111301~~66301127 0.~~99261111~~99166301 0.~~93853875~~94809833 B-2 0.00000000 0.~~93853550~~94809911 ~~992~~991.~~61110947~~66301036 0.~~99261111~~99166301 0.~~93853550~~94809911 B-3 0.00000000 0.~~93854043~~94809665 ~~992~~991.~~61111440~~66300789 0.~~99261111~~99166301 0.~~93854043~~94809665 B-4 0.00000000 0.~~93853659~~94809313 ~~992~~991.~~61110865~~66301552 0.~~99261111~~99166302 0.~~93853659~~94809313 B-5 0.00000000 0.~~93855030~~94810651 ~~992~~991.~~61112426~~66301775 0.~~99261112~~99166302 0.~~93855030~~94810651 B-6 0.00000000 0.~~93854801~~94809812 ~~992~~991.~~61111425~~66301613 0.~~99261111~~99166302 0.~~93854801~~94809812 (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-PO 1,041,073.37 0.00000% 1,~~031~~028,~~258~~540.0304 0.00 0.00 0.00 A-1 163,161,000.00 6.00000% ~~153~~149,~~506~~419,~~238~~739.2300 ~~767~~747,~~531~~098.1970 0.00 0.00 A-2 54,604,000.00 6.00000% 54,604,000.00 273,020.00 0.00 0.00 A-R 100.00 6.00000% 0.00 0.00 0.00 0.00 B-1 2,929,000.00 6.00000% 2,~~910~~907,~~106~~357.9295 14,~~550~~536.5379 0.00 0.00 B-2 1,352,000.00 6.00000% 1,~~343~~342,~~279~~010.1322 6,~~716~~710.4005 0.00 0.00 B-3 1,014,000.00 6.00000% 1,~~007~~006,~~459~~507.3467 5,~~037~~032.3054 0.00 0.00 B-4 451,000.00 6.00000% ~~448~~447,~~090~~667.8961 2,~~240~~238.4534 0.00 0.00 B-5 338,000.00 6.00000% 335,~~819~~502.7856 1,~~679~~677.1051 0.00 0.00 B-6 451,303.50 6.00000% ~~448~~447,~~392~~968.4487 2,~~241~~239.9684 0.00 0.00 Totals 225,341,476.87 1,~~073~~052,~~016~~553.9377 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-PO 0.00 0.00 0.00 0.00 1,~~028~~026,~~540~~689.0496 A-1 0.00 0.00 ~~767~~747,~~531~~098.1970 0.00 ~~149~~146,~~419~~020,~~739~~313.0037 A-2 0.00 0.00 273,020.00 0.00 54,604,000.00 A-R 0.00 0.00 4923.4234 0.00 0.00 B-1 0.00 0.00 14,~~550~~536.5379 0.00 2,~~907~~904,~~357~~580.9596 B-2 0.00 0.00 6,~~716~~710.4005 0.00 1,~~342~~340,~~010~~728.2239 B-3 0.00 0.00 5,~~037~~032.3054 0.00 1,~~006~~005,~~507~~546.6729 B-4 0.00 0.00 2,~~240~~238.4534 0.00 447,~~667~~240.6102 B-5 0.00 0.00 1,~~679~~677.1051 0.00 335,~~502~~182.5610 B-6 0.00 0.00 2,~~241~~239.9684 0.00 447,~~968~~540.8799 Totals 0.00 0.00 1,~~073~~052,~~066~~577.3511 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-PO 1,041,073.37 0.00000% ~~990~~987.~~57190369~~96114629 0.00000000 0.00000000 0.00000000 A-1 163,161,000.00 6.00000% ~~940~~915.~~82677987~~78097094 4.~~70413389~~57890489 0.00000000 0.00000000 A-2 54,604,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A-R 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,929,000.00 6.00000% ~~993~~992.~~54964834~~61111301 4.~~96774667~~96305565 0.00000000 0.00000000 B-2 1,352,000.00 6.00000% ~~993~~992.~~54965237~~61110947 4.~~96775148~~96305473 0.00000000 0.00000000 B-3 1,014,000.00 6.00000% ~~993~~992.~~54964497~~61111440 4.~~96775148~~96305720 0.00000000 0.00000000 B-4 451,000.00 6.00000% ~~993~~992.~~54964523~~61110865 4.~~96773836~~96305987 0.00000000 0.00000000 B-5 338,000.00 6.00000% ~~993~~992.~~54964497~~61112426 4.~~96775148~~96304734 0.00000000 0.00000000 B-6 451,303.50 6.00000% ~~993~~992.~~54966226~~61111425 4.~~96774344~~96304593 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-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~987~~986.~~96114629~~18405733 A-1 0.00000000 0.00000000 4.~~70413389~~57890489 0.00000000 ~~915~~894.~~78097094~~94617813 A-2 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 ~~494~~233.~~20000000~~40000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~96774667~~96305565 0.00000000 ~~992~~991.~~61111301~~66301127 B-2 0.00000000 0.00000000 4.~~96775148~~96305473 0.00000000 ~~992~~991.~~61110947~~66301036 B-3 0.00000000 0.00000000 4.~~96775148~~96305720 0.00000000 ~~992~~991.~~61111440~~66300789 B-4 0.00000000 0.00000000 4.~~96773836~~96305987 0.00000000 ~~992~~991.~~61110865~~66301552 B-5 0.00000000 0.00000000 4.~~96775148~~96304734 0.00000000 ~~992~~991.~~61112426~~66301775 B-6 0.00000000 0.00000000 4.~~96774344~~96304593 0.00000000 ~~992~~991.~~61111425~~66301613 (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 018,798.0045 Deposits Payments of Interest and Principal 54,~~265~~515,~~987~~988.1011 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 54,~~265~~515,~~987~~988.1011 Withdrawals Reimbursement for Servicer Advances ~~33,287~~0.5800 Payment of Service Fee 45,~~483~~911.8754 Payment of Interest and Principal 54,~~168~~460,~~417~~048.2094 Total Withdrawals (Pool Distribution Amount) 54,~~247~~505,~~188~~960.6548 Ending Balance 1828,~~798~~826.4508

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 21,~~495~~156.4710 Servicing Fee Support 21,~~495~~156.4710 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 44,~~924~~070.4883 Master Servicing Fee 32,~~054~~996.8682 Supported Prepayment/Curtailment Interest Shortfall 21,~~495~~156.4710 Net Servicing Fee 45,~~483~~911.8754

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4540,~~824~~027.2304

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 6,535,303.50 2.90017781% 6,~~487~~480,~~014~~818.8875 3.~~06657679~~11380484% 96.~~918440~~870759% 100.000000% Class B-1 3,606,303.50 1.60037271% 3,~~579~~576,~~656~~237.9379 1.~~69219480~~71825613% 1.~~381097~~402467% 0.000000% Class B-2 2,254,303.50 1.00039439% 2,~~237~~235,~~646~~509.7140 1.~~05779246~~07408342% 0.~~637502~~647366% 0.000000% Class B-3 1,240,303.50 0.55041066% 1,~~231~~229,~~139~~963.0411 0.~~58199071~~59095390% 0.~~478126~~485525% 0.000000% Class B-4 789,303.50 0.35026996% ~~783~~782,~~471~~723.4309 0.~~37036686~~37607084% 0.~~212658~~215948% 0.000000% Class B-5 451,303.50 0.20027538% 447,~~968~~540.8799 0.~~21176627~~21502766% 0.~~159375~~161842% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~212801~~216094% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~578302~~571914% Weighted Average Pass-Through Rate 6.000000% Weighted Average Maturity(Stepdown Calculation ) ~~349~~348 Beginning Scheduled Collateral Loan Count ~~504~~495 Number Of Loans Paid In Full 98 Ending Scheduled Collateral Loan Count ~~495~~487 Beginning Scheduled Collateral Balance ~~215~~211,~~634~~539,~~644~~293.7792 Ending Scheduled Collateral Balance ~~211~~208,~~539~~131,~~293~~822.9209 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2002 ~~213~~209,~~930~~957,~~871~~949.0471 Ending Scheduled Balance For Wells Fargo Serviced ~~210~~206,~~142~~736,~~238~~172.6668 Ending Scheduled Balance For Other Servicers 1,~~397~~395,~~055~~649.2641 Monthly P &I Constant 1,~~328~~304,~~439~~711.9894 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 54,~~127~~419,~~050~~544.4234 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~166~~163,~~601~~267,~~070~~734.2293 Ending scheduled Balance For discounted Loans 44,~~938~~864,~~223~~087.7016 Scheduled Principal ~~203~~202,~~795~~152.4446 Unscheduled Principal 3,~~891~~205,~~555~~319.4137 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% ~~145~~142,~~324~~282,~~184~~147.3458 Greater Than 80%, less than or equal to 85% 4,~~935~~930,~~100~~736.7896 Greater than 85%, less than or equal to 95% 6160,~~278~~914,161.1823 Greater than 95% 0.00

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PASS THR CERT SERIES 2002-1