8-K 1 bsa01ac1.txt NOVEMBER 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): November 25, 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 November 25, 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 November 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. 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: 12/3/02 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 November 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Mortgage Pass~~Asset-~~Through~~Backed Certificates Record Date: 910/3031/02 Distribution Date: 1011/25/02 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.~~96375~~98000% ~~616,072~~0.8800 ~~1,008~~0.1800 ~~616,072~~0.8800 I-A2 07384YAN6 SEN 5.64000% 4036,~~056~~637,~~000~~703.0080 ~~188~~172,~~263~~197.2021 35,~~418~~839,~~296~~624.2032 I-A3 07384YAP1 SEN 6.35000% 16,107,000.00 85,232.8788 0.00 I-A4 07384YAQ9 SEN 6.90000% 24,405,000.00 140,328.75 0.00 I-A5 07384YAW6 SEN 7.~~16703~~14133% 13,250,000.00 7978,~~135~~852.9723 0.00 II-A 07384YAR7 SEN 7.00000% 4843,~~740~~442,~~792~~661.1588 ~~284~~253,~~321~~415.2853 52,~~298~~340,~~130~~907.2725 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% 605,159.64 836,~~081~~875.9508 0.00 P BSA01AC1P SUB 0.00000% 100.00 06,109.0044 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 ~~155~~146,~~882~~549,~~124~~625.6732 1,~~017~~004,~~695~~334.4032 98,~~332~~180,~~499~~531.3557

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 0.00 ~~617,081~~0.0600 0.00 I-A2 0.00 3630,~~637~~798,~~703~~079.8048 36,~~606~~011,~~559~~821.4053 0.00 I-A3 0.00 16,107,000.00 85,232.8788 0.00 I-A4 0.00 24,405,000.00 140,328.75 0.00 I-A5 0.00 13,250,000.00 7978,~~135~~852.9723 0.00 II-A 0.00 4341,~~442~~101,~~661~~754.8863 52,~~582~~594,~~451~~322.5578 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 0.00 605,159.64 836,~~081~~875.9508 0.00 P 0.00 100.00 06,109.0044 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 ~~146~~138,~~549~~369,~~625~~093.3275 109,~~350~~184,~~194~~865.7589 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 ~~616,072~~0.8800 0.00 ~~616,072~~0.8800 0.00 0.00 I-A2 40,056,000.00 4036,~~056~~637,~~000~~703.0080 0.00 35,~~418~~839,~~296~~624.2032 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 4843,~~740~~442,~~792~~661.1588 0.00 52,~~298~~340,~~130~~907.2725 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 ~~155~~146,~~882~~549,~~124~~625.6732 0.00 98,~~332~~180,~~499~~531.3557 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 ~~616,072~~0.8800 0.00 0.00000000 ~~616,072~~0.8800 I-A2 35,~~418~~839,~~296~~624.2032 3630,~~637~~798,~~703~~079.8048 0.~~91466207~~76887556 35,~~418~~839,~~296~~624.2032 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 52,~~298~~340,~~130~~907.2725 4341,~~442~~101,~~661~~754.8863 0.~~44515029~~42116337 52,~~298~~340,~~130~~907.2725 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 98,~~332~~180,~~499~~531.3557 ~~146~~138,~~549~~369,~~625~~093.3275 0.~~60541721~~57162228 98,~~332~~180,~~499~~531.3557

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 38,552,000.00 150.~~98030919~~00000000 0.00000000 150.~~98030919~~00000000 0.00000000 I-A2 40,056,000.00 ~~1000~~914.~~00000000~~66206810 0.00000000 85145.~~33793190~~78650689 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 ~~499~~445.~~43941706~~15028927 0.00000000 5423.~~28912779~~98691734 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 150.~~98030919~~00000000 0.00000000 0.00000000 150.~~98030919~~00000000 I-A2 0.00000000 85145.~~33793190~~78650689 ~~914~~768.~~66206810~~87556121 0.~~91466207~~76887556 85145.~~33793190~~78650689 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 5423.~~28912779~~98691734 ~~445~~421.~~15028927~~16337193 0.~~44515029~~42116337 5423.~~28912779~~98691734 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.~~96375~~98000% 0.00 ~~1,008~~0.1800 0.00 0.00 I-A2 40,056,000.00 5.64000% 0.00 ~~188~~172,~~263~~197.2021 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.~~16703~~14133% 0.00 7978,~~135~~852.9823 0.00 0.00 II-A 97,591,000.00 7.00000% 0.00 ~~284~~253,~~321~~415.2953 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 1961,~~009,613~~349.4880 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 ~~1,008~~0.1800 0.00 0.00 I-A2 0.00 0.00 ~~188~~172,~~263~~197.2021 0.00 0.00 I-A3 0.00 0.00 85,232.8788 0.00 0.00 I-A4 0.00 0.00 140,328.75 0.00 0.00 I-A5 0.00 0.00 7978,~~135~~852.9723 0.00 0.00 II-A 0.00 0.00 ~~284~~253,~~321~~415.2853 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 0.00 836,~~081~~875.9508 0.00 0.00 P 0.00 0.00 06,109.0044 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,~~017~~004,~~695~~334.4032 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.~~96375~~98000% 0.00000000 0.~~02615117~~00000000 0.00000000 0.00000000 I-A2 40,056,000.00 5.64000% 0.00000000 4.~~70000000~~29891177 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.~~16703~~14133% 0.00000000 5.~~97252679~~95111170 0.00000000 0.00000000 II-A 97,591,000.00 7.00000% 0.00000000 2.~~91339662~~59671004 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.~~02615117~~00000000 0.00000000 0.00000000 I-A2 0.00000000 0.00000000 4.~~70000000~~29891177 0.00000000 0.00000000 I-A3 0.00000000 0.00000000 5.~~29166636~~29166698 0.00000000 0.00000000 I-A4 0.00000000 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 0.00000000 0.00000000 5.~~97252604~~95111170 0.00000000 0.00000000 II-A 0.00000000 0.00000000 2.~~91339652~~59671004 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 ~~10680~~48733.~~94413681~~37121863 0.00000000 0.00000000 P 0.00000000 0.00000000 061094.~~00000000~~40000000 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 109,~~330~~141,~~759~~646.8581 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~124~~108,~~423~~720.9288 Realized Losses (7435,~~648~~241.0264) Prepayment Penalties 0.00 Total Deposits 109,~~380~~215,~~535~~126.7505 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 30,~~341~~260.0016 Payment of Interest and Principal 109,~~350~~184,~~194~~865.7589 Total Withdrawals (Pool Distribution Amount) 109,~~380~~215,~~535~~126.7505 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~2,134~~271.4600 Servicing Fee Support ~~2,134~~271.4600 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 3230,~~475~~531.4616 Trustee Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall ~~2,134~~271.4600 Net Servicing Fee 30,~~341~~260.0016

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 32 0 0 32 ~~476~~371,~~319~~086.1948 0.00 0.00 ~~476~~371,~~319~~086.1948 30 Days 1816 0 0 0 1816 32,~~241~~471,~~962~~836.4910 0.00 0.00 0.00 32,~~241~~471,~~962~~836.4910 60 Days 198 02 0 0 1910 31,~~992~~285,~~145~~537.2382 0231,895.0073 0.00 0.00 31,~~992~~517,~~145~~433.2355 90 Days 7 10 10 0 97 1,~~182~~853,~~951~~681.9698 ~~160,633~~0.1100 ~~66,473~~0.8100 0.00 1,~~410~~853,~~058~~681.8898 120 Days 101 03 04 0 108 279,~~138,752~~499.36 0367,944.0035 0390,858.0041 0.00 2838,~~138,752~~302.3612 150 Days 12 02 36 0 410 ~~108~~677,~~375~~486.9845 0381,986.0079 ~~538~~1,~~191~~084,243.6187 0.00 ~~646~~2,~~567~~143,717.5911 180+ Days 35 1 13 69 2328 ~~403~~703,~~532~~662.5294 153,472.99 2,~~484~~389,~~771~~972.9653 1,~~062~~329,~~012~~182.7497 4,~~103~~576,~~790~~291.2143 Totals 5839 510 1723 69 8681 117,~~067~~071,~~720~~704.5465 ~~790~~1,~~425~~506,386.2934 3,~~089~~865,~~437~~074.3881 1,~~062~~329,~~012~~182.7497 1613,~~009~~772,~~595~~348.9577 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.~~338600~~238095% 0.000000% 0.000000% 0.~~338600~~238095% 0.~~324726~~268055% 0.000000% 0.000000% 0.~~324726~~268055% 30 Days 21.~~031603~~904762% 0.000000% 0.000000% 0.000000% 21.~~031603~~904762% 21.~~210174~~785537% 0.000000% 0.000000% 0.000000% 21.~~210174~~785537% 60 Days 20.~~144470~~952381% 0.~~000000~~238095% 0.000000% 0.000000% 21.~~144470~~190476% 20.~~721603~~928611% 0.~~000000~~167510% 0.000000% 0.000000% 21.~~721603~~096122% 90 Days 0.~~790068~~833333% 0.~~112867~~000000% 0.~~112867~~000000% 0.000000% 10.~~015801~~833333% 01.~~806465~~339012% 0.~~109510~~000000% 0.~~045318~~000000% 0.000000% 01.~~961293~~339012% 120 Days 10.~~128668~~119048% 0.~~000000~~357143% 0.~~000000~~476190% 0.000000% 10.~~128668~~952381% 10.~~458072~~057427% 0.~~000000~~265786% 0.~~000000~~282338% 0.000000% 10.~~458072~~605550% 150 Days 0.~~112867~~238095% 0.~~000000~~238095% 0.~~338600~~714286% 0.000000% 01.~~451467~~190476% 0.~~073884~~489384% 0.~~000000~~275929% 0.~~366906~~783206% 0.000000% 01.~~440791~~548519% 180+ Days 0.~~338600~~595238% 0.~~112867~~119048% 1.~~467269~~547619% 01.~~677201~~071429% 23.~~595937~~333333% 0.~~275104~~508293% 0.~~104629~~110862% 1.~~693967~~726403% 0.~~724016~~960139% 23.~~797716~~305696% Totals 64.~~546275~~642857% 01.~~564334~~190476% 12.~~918736~~738095% 01.~~677201~~071429% 9.~~706546~~642857% 75.~~545301~~108264% 01.~~538864~~088142% 2.~~106191~~791947% 0.~~724016~~960139% 109.~~914373~~948491% ~~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

~~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 32 0 0 32 ~~476~~371,~~319~~086.1948 0.00 0.00 ~~476~~371,~~319~~086.1948 30 Days 15 0 0 0 15 2,~~115~~196,~~462~~491.5573 0.00 0.00 0.00 2,~~115~~196,~~462~~491.5573 60 Days 127 02 0 0 129 1972,~~642,051~~815.3238 0231,895.0073 0.00 0.00 1,~~642~~204,~~051~~711.3211 90 Days 64 10 10 0 84 ~~587~~520,~~754~~183.1218 ~~160,633~~0.1100 ~~66,473~~0.8100 0.00 ~~814~~520,~~861~~183.0418 120 Days 71 03 04 0 78 179,~~002,611~~499.3336 0367,944.0035 0390,858.0041 0.00 1838,~~002,611~~302.3312 150 Days 1 02 34 0 47 ~~108~~169,~~375~~113.9848 0381,986.0079 ~~538~~454,~~191~~244.6183 0.00 ~~646~~1,~~567~~005,345.5910 180 Days 35 1 10 47 1823 ~~403~~703,~~532~~662.5294 153,472.99 1,~~270~~175,~~701~~901.2784 ~~355~~622,~~081~~251.0427 2,~~182~~655,~~787~~289.8204 Totals 4433 510 1418 47 6768 54,~~859~~641,~~787~~766.8207 ~~790~~1,~~425~~506,386.2934 12,~~875~~021,~~366~~005.6908 ~~355~~622,~~081~~251.0427 8,~~880~~791,~~660~~408.8476 0-29 Days 0.~~391134~~275103% 0.000000% 0.000000% 0.~~391134~~275103% 0.~~487985~~404598% 0.000000% 0.000000% 0.~~487985~~404598% 30 Days 12.~~955671~~063274% 0.000000% 0.000000% 0.000000% 12.~~955671~~063274% 2.~~167276~~394852% 0.000000% 0.000000% 0.000000% 2.~~167276~~394852% 60 Days 10.~~564537~~962861% 0.~~000000~~275103% 0.000000% 0.000000% 1.~~564537~~237964% 1.~~682269~~060668% 0.~~000000~~252838% 0.000000% 0.000000% 1.~~682269~~313506% 90 Days 0.~~782269~~550206% 0.~~130378~~000000% 0.~~130378~~000000% 0.000000% 10.~~043025~~550206% 0.~~602150~~567160% 0.~~164567~~000000% 0.~~068102~~000000% 0.000000% 0.~~834819~~567160% 120 Days 0.~~912647~~137552% 0.~~000000~~412655% 0.~~000000~~550206% 0.000000% 01.~~912647~~100413% 10.~~027168~~086679% 0.~~000000~~401173% 0.~~000000~~426156% 0.000000% 10.~~027168~~914007% 150 Days 0.~~130378~~137552% 0.~~000000~~275103% 0.~~391134~~550206% 0.000000% 0.~~521512~~962861% 0.~~111030~~184386% 0.~~000000~~416483% 0.~~551373~~495267% 0.000000% 01.~~662404~~096136% 180 Days 0.~~391134~~687758% 0.~~130378~~137552% 1.~~303781~~375516% 0.~~521512~~962861% 23.~~346806~~163686% 0.~~413416~~767209% 0.~~157232~~167333% 1.~~301824~~282095% 0.~~363778~~678445% 2.~~236250~~895082% Totals 54.~~736636~~539202% 01.~~651890~~375516% 12.~~825293~~475928% 0.~~521512~~962861% 89.~~735332~~353508% 65.~~003309~~060953% 01.~~809785~~642425% 12.~~921299~~203517% 0.~~363778~~678445% 9.~~098170~~585341% 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 31 0 0 0 3 1 275,~~126,499~~344.9437 0.00 0.00 0.00 1275,~~126,499~~344.9437 60 Days 71 0 0 0 71 2312,~~350,093~~722.9144 0.00 0.00 0.00 2312,~~350,093~~722.9144 90 Days 13 0 0 0 13 ~~595~~1,~~197~~333,498.8480 0.00 0.00 0.00 ~~595~~1,~~197~~333,498.8480 120 Days 30 0 0 0 30 ~~1,136,141~~0.0300 0.00 0.00 0.00 ~~1,136,141~~0.0300 150 Days 01 0 02 0 03 0508,372.0097 0.00 0629,999.0004 0.00 01,138,372.0001 180 Days 0 0 3 2 5 0.00 0.00 1,214,070.69 706,931.70 1,921,002.39 Totals 146 0 35 2 1913 52,~~207~~429,~~932~~938.7258 0.00 1,~~214~~844,~~070~~069.6973 706,931.70 74,~~128~~980,~~935~~940.1101 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~521008~~884956% 0.000000% 0.000000% 0.000000% 20.~~521008~~884956% 20.~~295498~~589358% 0.000000% 0.000000% 0.000000% 20.~~295498~~589358% 60 Days 50.~~882353~~884956% 0.000000% 0.000000% 0.000000% 50.~~882353~~884956% 40.~~788848~~669364% 0.000000% 0.000000% 0.000000% 40.~~788848~~669364% 90 Days 02.~~840336~~654867% 0.000000% 0.000000% 0.000000% 02.~~840336~~654867% 12.~~212850~~854276% 0.000000% 0.000000% 0.000000% 12.~~212850~~854276% 120 Days 20.~~521008~~000000% 0.000000% 0.000000% 0.000000% 20.~~521008~~000000% 20.~~315144~~000000% 0.000000% 0.000000% 0.000000% 20.~~315144~~000000% 150 Days 0.~~000000~~884956% 0.000000% 01.~~000000~~769912% 0.000000% 02.~~000000~~654867% 01.~~000000~~088143% 0.000000% 01.~~000000~~348476% 0.000000% 02.~~000000~~436619% 180 Days 0.000000% 0.000000% 2.~~521008~~654867% 1.~~680672~~769912% 4.~~201681~~424779% 0.000000% 0.000000% 2.~~473944~~598647% 1.~~440533~~513146% 34.~~914477~~111793% Totals 115.~~764706~~309735% 0.000000% 24.~~521008~~424779% 1.~~680672~~769912% 1511.~~966387~~504425% 105.~~612341~~201141% 0.000000% 23.~~473944~~947123% 1.~~440533~~513146% 1410.~~526818~~661410%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~124~~108,~~423~~720.9288

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~710058~~762414% Weighted Average Net Coupon 8.~~460057~~512415% Weighted Average Pass-Through Rate 8.~~460057~~486352% Weighted Average Maturity(Stepdown Calculation ) ~~320~~319 Beginning Scheduled Collateral Loan Count ~~927~~886 Number Of Loans Paid In Full 4146 Ending Scheduled Collateral Loan Count ~~886~~840 Beginning Scheduled Collateral Balance ~~155~~146,~~882~~549,~~124~~625.6732 Ending Scheduled Collateral Balance ~~146~~138,~~549~~369,~~625~~093.3275 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~146~~138,~~683~~436,~~608~~563.8868 Monthly P &I Constant 1,~~237~~170,~~174~~476.4815 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 7435,~~648~~241.0264 Cumulative Realized Loss ~~105~~140,~~677~~918.2286 Ending Scheduled Balance for Premium Loans ~~146~~138,~~549~~369,~~625~~093.3275 Scheduled Principal ~~112~~106,~~355~~478.5946 Unscheduled Principal 98,~~220~~074,~~143~~053.7611 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 035,241.0064 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 035,241.0064 Excess Cash Amount 8278,~~729~~226.9716

Miscellaneous Reporting 3 Month Rolling Delinquency Average 7.~~150457~~765841%

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.~~784143~~785784 8.~~425028~~715926 8.~~710058~~762414 Weighted Average Net Rate 8.~~534143~~535784 8.~~175028~~465926 8.~~460057~~512415 Weighted Average Maturity ~~314~~313 ~~328~~327 ~~320~~319 Beginning Loan Count ~~794~~767 ~~133~~119 ~~927~~886 Loans Paid In Full 2740 146 4146 Ending Loan Count ~~767~~727 ~~119~~113 ~~886~~840 Beginning Scheduled Balance ~~101~~97,~~559~~524,~~125~~756.2921 5449,~~322~~024,~~999~~869.3811 ~~155~~146,~~882~~549,~~124~~625.6732 Ending scheduled Balance 9791,~~524~~675,~~756~~047.2129 4946,~~024~~694,~~869~~046.1146 ~~146~~138,~~549~~369,~~625~~093.3275 Record Date 0910/3031/2002 0910/3031/2002 0910/3031/2002 Principal And Interest Constant ~~818~~785,~~401~~442.6962 ~~418~~385,~~772~~033.7953 1,~~237~~170,~~174~~476.4815 Scheduled Principal 7471,~~976~~416.7842 3735,~~378~~062.8104 ~~112~~106,~~355~~478.5946 Unscheduled Principal 35,~~959~~778,~~392~~292.3050 52,~~260~~295,~~751~~760.4661 98,~~220~~074,~~143~~053.7611 Scheduled Interest ~~743~~714,~~424~~026.9120 ~~381~~356,~~393~~080.9893 1,~~124~~070,~~818~~107.8913 Servicing Fees 2120,~~158~~317.1665 1110,~~317~~213.3051 3230,~~475~~531.4616 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 ~~722~~693,~~266~~708.7555 ~~370~~345,~~076~~867.6842 1,~~092~~039,~~343~~575.4397 Realized Loss Amount ~~(29~~35,~~215~~241.~~90)~~64 ~~103,863~~0.9200 7435,~~648~~241.0264 Cumulative Realized Loss 137,~~813~~054.3094 103,863.92 ~~105~~140,~~677~~918.2286 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.~~534143~~535784 8.~~175028~~465926 8.~~460057~~486352

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