8-K 1 bsa01ac2.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-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-11 Pooling and Servicing Agreement) (Commission 52-2316429 (State or other File Number) 52-2316431 jurisdiction 52-2316430 of Incorporation) 52-2316434 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-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 2001-AC2 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-AC2 Trust By: Wells Fargo Bank Minnesota, NA, 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-AC2 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-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-IO 07384YBC9 IO 8.00000% 0.00 134,800.00 0.00 I-A1 07384YAX4 SEN 2.~~06375~~08000% 2214,~~515~~933,~~978~~312.3505 3826,~~722~~747.7922 79,~~582~~160,~~666~~284.3085 I-A2 07384YAY2 SEN 4.91000% 62,927,000.00 257,476.31 0.00 I-A3 07384YAZ9 SEN 5.72000% 13,090,000.00 62,395.67 0.00 I-A4 07384YBA3 SEN 6.16000% 21,231,000.00 108,985.80 0.00 I-A5 07384YBB1 SEN 6.38000% 25,685,000.00 136,558.58 0.00 II-F 07384YBD7 SEN 2.~~41375~~43000% ~~123~~104,~~571~~933,~~510~~977.1045 ~~248~~212,~~558~~491.9430 1817,~~637~~036,~~532~~417.6544 II-INV 07384YBE5 SEN 5.~~58625~~57000% 0.00 ~~575~~487,~~251~~068.1255 0.00 II-A-2 07384YBF2 SEN 5.82000% 37,290,000.00 180,856.50 0.00 II-A-3 07384YBG0 SEN 6.45000% 26,381,000.00 141,797.88 0.00 M-1 07384YBH8 SUB 6.05000% 11,890,000.00 59,945.42 0.00 M-2 07384YBJ4 SUB 6.30000% 10,569,000.00 55,487.25 0.00 B 07384YBK1 SUB 6.75000% 7,927,000.00 44,589.38 0.00 B-IO BSAAC2BIO IO 0.00000% 1,849,617.39 ~~397~~450,~~374~~298.4645 0.00 P BSA01AC2P SUB 0.00000% 100.00 72,~~867~~298.9065 0.00 R-1 BSA1AC2R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA1AC2R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA1AC2R3 RES 0.00000% 0.00 0.00 0.00 R-4 BSA1AC2R4 RES 0.00000% 0.00 0.00 0.00 Totals ~~364~~338,~~927~~707,~~205~~006.8489 2,~~450~~361,~~668~~796.0096 26,~~220~~196,~~198~~702.9529

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 134,800.00 0.00 I-A1 0.00 145,~~933~~773,~~312~~027.0520 79,~~621~~187,~~389~~032.0907 0.00 I-A2 0.00 62,927,000.00 257,476.31 0.00 I-A3 0.00 13,090,000.00 62,395.67 0.00 I-A4 0.00 21,231,000.00 108,985.80 0.00 I-A5 0.00 25,685,000.00 136,558.58 0.00 II-F 0.00 ~~104~~87,~~933~~897,~~977~~560.4501 1817,~~886~~248,~~091~~908.5974 0.00 II-INV 0.00 0.00 ~~575~~487,~~251~~068.1255 0.00 II-A-2 0.00 37,290,000.00 180,856.50 0.00 II-A-3 0.00 26,381,000.00 141,797.88 0.00 M-1 0.00 11,890,000.00 59,945.42 0.00 M-2 0.00 10,569,000.00 55,487.25 0.00 B 0.00 7,927,000.00 44,589.38 0.00 B-IO 0.00 1,849,617.39 ~~397~~450,~~374~~298.4645 0.00 P 0.00 100.00 72,~~867~~298.9065 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 R-4 0.00 0.00 0.00 0.00 Totals 0.00 ~~338~~312,~~707~~510,~~006~~304.8960 28,~~670~~558,~~866~~499.9525 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 67,637,000.00 2214,~~515~~933,~~978~~312.3505 0.00 79,~~582~~160,~~666~~284.3085 0.00 0.00 I-A2 62,927,000.00 62,927,000.00 0.00 0.00 0.00 0.00 I-A3 13,090,000.00 13,090,000.00 0.00 0.00 0.00 0.00 I-A4 21,231,000.00 21,231,000.00 0.00 0.00 0.00 0.00 I-A5 25,685,000.00 25,685,000.00 0.00 0.00 0.00 0.00 II-F 243,835,000.00 ~~123~~104,~~571~~933,~~510~~977.1045 0.00 1817,~~637~~036,~~532~~417.6544 0.00 0.00 II-INV 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 37,290,000.00 37,290,000.00 0.00 0.00 0.00 0.00 II-A-3 26,381,000.00 26,381,000.00 0.00 0.00 0.00 0.00 M-1 11,890,000.00 11,890,000.00 0.00 0.00 0.00 0.00 M-2 10,569,000.00 10,569,000.00 0.00 0.00 0.00 0.00 B 7,927,000.00 7,927,000.00 0.00 0.00 0.00 0.00 B-IO 11.00 1,849,617.39 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 R-4 0.00 0.00 0.00 0.00 0.00 0.00 Totals 528,462,111.00 ~~364~~338,~~927~~707,~~205~~006.8489 0.00 26,~~220~~196,~~198~~702.9529 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 79,~~582~~160,~~666~~284.3085 145,~~933~~773,~~312~~027.0520 0.~~22078614~~08535309 79,~~582~~160,~~666~~284.3085 I-A2 0.00 62,927,000.00 1.00000000 0.00 I-A3 0.00 13,090,000.00 1.00000000 0.00 I-A4 0.00 21,231,000.00 1.00000000 0.00 I-A5 0.00 25,685,000.00 1.00000000 0.00 II-F 1817,~~637~~036,~~532~~417.6544 ~~104~~87,~~933~~897,~~977~~560.4501 0.~~43034830~~36047967 1817,~~637~~036,~~532~~417.6544 II-INV 0.00 0.00 0.00000000 0.00 II-A-2 0.00 37,290,000.00 1.00000000 0.00 II-A-3 0.00 26,381,000.00 1.00000000 0.00 M-1 0.00 11,890,000.00 1.00000000 0.00 M-2 0.00 10,569,000.00 1.00000000 0.00 B 0.00 7,927,000.00 1.00000000 0.00 B-IO 0.00 1,849,617.39 168,147.03545455 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 R-4 0.00 0.00 0.00000000 0.00 Totals 26,~~220~~196,~~198~~702.9529 ~~338~~312,~~707~~510,~~006~~304.8960 0.~~64092960~~59135801 26,~~220~~196,~~198~~702.9529

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 67,637,000.00 ~~332~~220.~~89439730~~78613850 0.00000000 ~~112~~135.~~10825879~~43304478 0.00000000 I-A2 62,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 13,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 21,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 25,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-F 243,835,000.00 ~~506~~430.~~78331700~~34829885 0.00000000 7669.~~43501815~~86863018 0.00000000 II-INV 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 37,290,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-3 26,381,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 11,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,569,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 7,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 11.00 168147035.~~45454544~~454545 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 R-4 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 ~~112~~135.~~10825879~~43304478 ~~220~~85.~~78613850~~35309372 0.~~22078614~~08535309 ~~112~~135.~~10825879~~43304478 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-F 0.00000000 7669.~~43501815~~86863018 ~~430~~360.~~34829885~~47966867 0.~~43034830~~36047967 7669.~~43501815~~86863018 II-INV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 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 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 168,147,035.~~4545454~~45454 168147.03545455 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 R-4 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% 20,220,000.00 134,800.00 0.00 0.00 I-A1 67,637,000.00 2.~~06375~~08000% 2214,~~515~~933,~~978~~312.3505 3826,~~722~~747.7922 0.00 0.00 I-A2 62,927,000.00 4.91000% 62,927,000.00 257,476.31 0.00 0.00 I-A3 13,090,000.00 5.72000% 13,090,000.00 62,395.67 0.00 0.00 I-A4 21,231,000.00 6.16000% 21,231,000.00 108,985.80 0.00 0.00 I-A5 25,685,000.00 6.38000% 25,685,000.00 136,558.58 0.00 0.00 II-F 243,835,000.00 2.~~41375~~43000% ~~123~~104,~~571~~933,~~510~~977.1045 ~~248~~212,~~558~~491.9430 0.00 0.00 II-INV 0.00 5.~~58625~~57000% ~~123~~104,~~571~~933,~~510~~977.1045 ~~575~~487,~~251~~068.1255 0.00 0.00 II-A-2 37,290,000.00 5.82000% 37,290,000.00 180,856.50 0.00 0.00 II-A-3 26,381,000.00 6.45000% 26,381,000.00 141,797.88 0.00 0.00 M-1 11,890,000.00 6.05000% 11,890,000.00 59,945.42 0.00 0.00 M-2 10,569,000.00 6.30000% 10,569,000.00 55,487.25 0.00 0.00 B 7,927,000.00 6.75000% 7,927,000.00 44,589.38 0.00 0.00 B-IO 11.00 0.00000% 1,849,617.39 0.00 0.00 0.00 P 100.00 0.00000% 100.00 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 R-4 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 528,462,111.00 21,~~045~~909,~~425~~199.6486 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 0.00 134,800.00 0.00 20,220,000.00 I-A1 0.00 0.00 3826,~~722~~747.7922 0.00 145,~~933~~773,~~312~~027.0520 I-A2 0.00 0.00 257,476.31 0.00 62,927,000.00 I-A3 0.00 0.00 62,395.67 0.00 13,090,000.00 I-A4 0.00 0.00 108,985.80 0.00 21,231,000.00 I-A5 0.00 0.00 136,558.58 0.00 25,685,000.00 II-F 0.00 0.00 ~~248~~212,~~558~~491.9430 0.00 ~~104~~87,~~933~~897,~~977~~560.4501 II-INV 0.00 0.00 ~~575~~487,~~251~~068.1255 0.00 ~~104~~87,~~933~~897,~~977~~560.4501 II-A-2 0.00 0.00 180,856.50 0.00 37,290,000.00 II-A-3 0.00 0.00 141,797.88 0.00 26,381,000.00 M-1 0.00 0.00 59,945.42 0.00 11,890,000.00 M-2 0.00 0.00 55,487.25 0.00 10,569,000.00 B 0.00 0.00 44,589.38 0.00 7,927,000.00 B-IO 0.00 0.00 ~~397~~450,~~374~~298.4645 0.00 1,849,617.39 P 0.00 0.00 72,~~867~~298.9065 0.00 100.00 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 R-4 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~450~~361,~~668~~796.0096 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 6.66666667 0.00000000 0.00000000 I-A1 67,637,000.00 2.~~06375~~08000% ~~332~~220.~~89439730~~78613850 0.~~57250898~~39545249 0.00000000 0.00000000 I-A2 62,927,000.00 4.91000% 1000.00000000 4.09166669 0.00000000 0.00000000 I-A3 13,090,000.00 5.72000% 1000.00000000 4.76666692 0.00000000 0.00000000 I-A4 21,231,000.00 6.16000% 1000.00000000 5.13333333 0.00000000 0.00000000 I-A5 25,685,000.00 6.38000% 1000.00000000 5.31666654 0.00000000 0.00000000 II-F 243,835,000.00 2.~~41375~~43000% ~~506~~430.~~78331700~~34829885 10.~~01937351~~87145529 0.00000000 0.00000000 II-INV 0.00 5.~~58625~~57000% ~~506~~430.~~78331700~~34829885 21.~~35918191~~99753337 0.00000000 0.00000000 II-A-2 37,290,000.00 5.82000% 1000.00000000 4.85000000 0.00000000 0.00000000 II-A-3 26,381,000.00 6.45000% 1000.00000000 5.37500019 0.00000000 0.00000000 M-1 11,890,000.00 6.05000% 1000.00000000 5.04166695 0.00000000 0.00000000 M-2 10,569,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000 B 7,927,000.00 6.75000% 1000.00000000 5.62500063 0.00000000 0.00000000 B-IO 11.00 0.00000% 168147035.~~45454544~~4545454 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 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 R-4 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 6.66666667 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 0.~~57250898~~39545249 0.00000000 ~~220~~85.~~78613850~~35309372 I-A2 0.00000000 0.00000000 4.09166669 0.00000000 1000.00000000 I-A3 0.00000000 0.00000000 4.76666692 0.00000000 1000.00000000 I-A4 0.00000000 0.00000000 5.13333333 0.00000000 1000.00000000 I-A5 0.00000000 0.00000000 5.31666654 0.00000000 1000.00000000 II-F 0.00000000 0.00000000 10.~~01937351~~87145529 0.00000000 ~~430~~360.~~34829885~~47966867 II-INV 0.00000000 0.00000000 21.~~35918191~~99753337 0.00000000 ~~430~~360.~~34829885~~47966867 II-A-2 0.00000000 0.00000000 4.85000000 0.00000000 1000.00000000 II-A-3 0.00000000 0.00000000 5.37500019 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 5.04166695 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.62500063 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~36124950~~40936222.~~90909091~~7272727 0.00000000 168147035.45454544 P 0.00000000 0.00000000 ~~78679~~22986.~~00000000~~50000000 0.00000000 1000.00000000 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 R-4 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 28,~~666~~488,~~849~~196.5224 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~163~~175,~~434~~039.6499 Realized Losses ~~(44,947~~0.~~09)~~00 Prepayment Penalties 0.00 Total Deposits 28,~~785~~663,~~337~~236.0723 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~114~~104,~~470~~736.1298 Payment of Interest and Principal 28,~~670~~558,~~866~~499.9525 Total Withdrawals (Pool Distribution Amount) 28,~~785~~663,~~337~~236.0723 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~111~~101,~~429~~914.0845 Trustee Fee 32,~~041~~822.0453 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~114~~104,~~470~~736.1298

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 21 0 0 21 ~~441~~123,~~479~~221.6202 0.00 0.00 ~~441~~123,~~479~~221.6202 30 Days 2628 01 0 0 2629 54,~~910~~761,~~194~~820.6379 0316,576.0040 0.00 0.00 5,~~910~~078,~~194~~397.6319 60 Days 1715 0 10 0 1815 23,~~952~~909,~~188~~683.4369 0.00 ~~200,541~~0.1200 0.00 3,~~152~~909,~~729~~683.5569 90 Days 108 01 3 10 1412 1,~~670~~448,~~149~~333.3233 0122,274.00 ~~685~~432,~~013~~012.3743 ~~163,579~~0.2600 2,~~518~~002,~~741~~619.9576 120 Days 94 1 24 0 129 1814,~~790,768~~244.0995 ~~134~~123,~~732~~902.3126 ~~238~~630,~~587~~884.8374 0.00 21,~~164~~569,~~088~~031.2395 150 Days 21 0 1 8 0 310 ~~545~~137,~~767~~402.7422 0134,257.0078 ~~221~~1,~~452~~460,298.7613 0.00 ~~767~~1,~~220~~731,958.5013 180+ Days 310 1 22 24 2837 ~~704~~1,~~616~~730,978.5895 ~~298~~296,~~780~~965.9877 4,~~772~~878,~~926~~408.7450 ~~542~~1,~~001~~037,535.3472 67,~~318~~943,~~325~~888.6494 Totals 6766 46 2937 34 ~~103~~113 1312,~~573~~802,~~684~~463.7993 ~~874~~1,~~992~~117,197.9123 67,~~118~~401,~~521~~603.8280 ~~705~~1,~~580~~037,535.6072 2122,~~272~~358,~~780~~800.1268 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.~~128617~~068213% 0.000000% 0.000000% 0.~~128617~~068213% 0.~~130255~~039408% 0.000000% 0.000000% 0.~~130255~~039408% 30 Days 1.~~672026~~909959% 0.~~000000~~068213% 0.000000% 0.000000% 1.~~672026~~978172% 1.~~743749~~522895% 0.~~000000~~101245% 0.000000% 0.000000% 1.~~743749~~624140% 60 Days 1.~~093248~~023192% 0.000000% 0.~~064309~~000000% 0.000000% 1.~~157556~~023192% 01.~~871016~~250370% 0.000000% 0.~~059168~~000000% 0.000000% 01.~~930184~~250370% 90 Days 0.~~643087~~545703% 0.~~000000~~068213% 0.~~192926~~204638% 0.~~064309~~000000% 0.~~900322~~818554% 0.~~492762~~463197% 0.~~000000~~039105% 0.~~202107~~138163% 0.~~048263~~000000% 0.~~743132~~640465% 120 Days 0.~~578778~~272851% 0.~~064309~~068213% 0.~~128617~~272851% 0.000000% 0.~~771704~~613915% 0.~~528350~~260407% 0.~~039752~~039626% 0.~~070393~~201765% 0.000000% 0.~~638495~~501798% 150 Days 0.~~128617~~068213% 0.~~000000~~068213% 0.~~064309~~545703% 0.000000% 0.~~192926~~682128% 0.~~161024~~043943% 0.~~000000~~042937% 0.~~065338~~467023% 0.000000% 0.~~226361~~553904% 180+ Days 0.~~192926~~682128% 0.~~064309~~068213% 1.~~414791~~500682% 0.~~128617~~272851% 12.~~800643~~523874% 0.~~207891~~553591% 0.~~088153~~094974% 1.~~408209~~560181% 0.~~159913~~331818% 12.~~864164~~540563% Totals 4.~~308682~~502046% 0.~~257235~~409277% 12.~~864952~~523874% 0.~~192926~~272851% 67.~~623794~~708049% 4.~~004792~~094402% 0.~~258159~~357295% 12.~~805214~~367133% 0.~~208175~~331818% 67.~~276340~~150648% ~~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 1 0 0 1 ~~124~~123,~~276~~221.2402 0.00 0.00 ~~124~~123,~~276~~221.2402 30 Days 1821 0 0 0 1821 2,~~605~~229,~~412~~759.9591 0.00 0.00 0.00 2,~~605~~229,~~412~~759.9591 60 Days 147 0 10 0 157 1,~~811~~039,~~863~~106.6846 0.00 ~~200,541~~0.1200 0.00 21,~~012~~039,~~404~~106.8046 90 Days 97 01 23 10 1211 1980,~~356,299~~851.4441 0122,274.00 ~~295~~432,~~966~~012.6443 ~~163,579~~0.2600 1,~~815~~535,~~845~~137.3484 120 Days 73 1 24 0 108 1499,~~122,327~~495.2557 ~~134~~123,~~732~~902.3126 ~~238~~630,~~587~~884.8374 0.00 1,~~495~~254,~~647~~282.3957 150 Days 21 0 1 6 0 38 ~~545~~137,~~767~~402.7422 0134,257.0078 ~~221~~792,~~452~~722.7678 0.00 ~~767~~1,~~220~~064,382.5078 180 Days 29 0 1516 12 1827 ~~373~~1,~~167~~401,306.3456 0.00 12,~~915~~377,~~076~~849.3946 ~~143~~297,~~202~~803.8309 24,~~431~~076,~~446~~959.5611 Totals 5248 24 2129 2 7783 76,~~814~~287,~~838~~922.4013 ~~259~~503,~~008~~655.5506 24,~~871~~233,~~624~~469.7441 ~~306~~297,~~782~~803.09 11,~~252~~322,~~253~~849.7869 0-29 Days 0.~~093809~~098522% 0.000000% 0.000000% 0.~~093809~~098522% 0.~~082812~~087462% 0.000000% 0.000000% 0.~~082812~~087462% 30 Days 12.~~688555~~068966% 0.000000% 0.000000% 0.000000% 12.~~688555~~068966% 1.~~736135~~582686% 0.000000% 0.000000% 0.000000% 1.~~736135~~582686% 60 Days 10.~~313321~~689655% 0.000000% 0.~~093809~~000000% 0.000000% 10.~~407129~~689655% 10.~~207348~~737559% 0.000000% 0.~~133632~~000000% 0.000000% 10.~~340980~~737559% 90 Days 0.~~844278~~689655% 0.~~000000~~098522% 0.~~187617~~295567% 0.~~093809~~000000% 1.~~125704~~083744% 0.~~903780~~696209% 0.~~000000~~086790% 0.~~197219~~306643% 0.~~109002~~000000% 1.~~210001~~089642% 120 Days 0.~~656660~~295567% 0.~~093809~~098522% 0.~~187617~~394089% 0.000000% 0.~~938086~~788177% 0.~~747871~~354542% 0.~~089780~~087946% 0.~~158985~~447803% 0.000000% 0.~~996635~~890291% 150 Days 0.~~187617~~098522% 0.~~000000~~098522% 0.~~093809~~591133% 0.000000% 0.~~281426~~788177% 0.~~363676~~097528% 0.~~000000~~095296% 0.~~147567~~562675% 0.000000% 0.~~511243~~755500% 180 Days 0.~~187617~~886700% 0.000000% 1.~~407129~~576355% 0.~~093809~~197044% 12.~~688555~~660099% 0.~~248663~~994649% 0.000000% 1.~~276125~~687800% 0.~~095424~~211381% 12.~~620211~~893829% Totals 4.~~878049~~729064% 0.~~187617~~394089% 12.~~969981~~857143% 0.~~187617~~197044% 78.~~223265~~177340% 54.~~207472~~463173% 0.~~172592~~357495% 13.~~913527~~004920% 0.~~204426~~211381% 78.~~498018~~036969% 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 10 0 0 10 ~~317,203~~0.3800 0.00 0.00 ~~317,203~~0.3800 30 Days 87 01 0 0 8 32,~~304~~532,~~781~~060.6888 0316,576.0040 0.00 0.00 32,~~304~~848,~~781~~637.6828 60 Days 38 0 0 0 38 12,~~140~~870,~~324~~577.7523 0.00 0.00 0.00 12,~~140~~870,~~324~~577.7523 90 Days 1 0 10 0 21 ~~313~~467,~~849~~481.8892 0.00 ~~389,046~~0.7300 0.00 ~~702~~467,~~896~~481.6192 120 Days 21 0 0 0 21 ~~668~~314,~~440~~749.8438 0.00 0.00 0.00 ~~668~~314,~~440~~749.8438 150 Days 0 0 02 0 02 0.00 0.00 0667,575.0035 0.00 0667,575.0035 180 Days 1 1 76 12 10 ~~331~~329,~~449~~672.2439 ~~298~~296,~~780~~965.9877 2,~~857~~500,~~850~~559.3504 ~~398~~739,~~798~~732.5163 3,~~886~~866,~~879~~929.0883 Totals 1518 2 8 12 2630 56,~~758~~514,~~846~~541.3980 ~~615~~613,~~984~~542.3617 3,~~246~~168,~~897~~134.0839 ~~398~~739,~~798~~732.5163 1011,~~020~~035,~~526~~950.3499 0-29 Days 0.~~204499~~000000% 0.000000% 0.000000% 0.~~204499~~000000% 0.~~167951~~000000% 0.000000% 0.000000% 0.~~167951~~000000% 30 Days 1.~~635992~~552106% 0.~~000000~~221729% 0.000000% 0.000000% 1.~~635992~~773836% 1.~~749799~~473863% 0.~~000000~~184273% 0.000000% 0.000000% 1.~~749799~~658136% 60 Days 01.~~613497~~773836% 0.000000% 0.000000% 0.000000% 01.~~613497~~773836% 01.~~603773~~670907% 0.000000% 0.000000% 0.000000% 01.~~603773~~670907% 90 Days 0.~~204499~~221729% 0.000000% 0.~~204499~~000000% 0.000000% 0.~~408998~~221729% 0.~~166176~~272112% 0.000000% 0.~~205990~~000000% 0.000000% 0.~~372166~~272112% 120 Days 0.~~408998~~221729% 0.000000% 0.000000% 0.000000% 0.~~408998~~221729% 0.~~353923~~183209% 0.000000% 0.000000% 0.000000% 0.~~353923~~183209% 150 Days 0.000000% 0.000000% 0.~~000000~~443459% 0.000000% 0.~~000000~~443459% 0.000000% 0.000000% 0.~~000000~~388582% 0.000000% 0.~~000000~~388582% 180 Days 0.~~204499~~221729% 0.~~204499~~221729% 1.~~431493~~330377% 0.~~204499~~443459% 2.~~044990~~217295% 0.~~175494~~191896% 0.~~158197~~172858% 1.~~513160~~455526% 0.~~211154~~430584% 2.~~058005~~250864% Totals 3.~~067485~~991131% 0.~~408998~~443459% 1.~~635992~~773836% 0.~~204499~~443459% 56.~~316973~~651885% 3.~~049165~~791987% 0.~~326148~~357131% 1.~~719151~~844109% 0.~~211154~~430584% 56.~~305617~~423810%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~163~~175,~~434~~039.6499

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~641298~~632880% Weighted Average Net Coupon 8.~~274883~~271809% Weighted Average Pass-Through Rate 8.~~264883~~261809% Weighted Average Maturity(Stepdown Calculation ) ~~327~~326 Beginning Scheduled Collateral Loan Count 1,~~643~~555 Number Of Loans Paid In Full 8889 Ending Scheduled Collateral Loan Count 1,~~555~~466 Beginning Scheduled Collateral Balance ~~364~~338,~~927~~707,~~205~~006.8489 Ending Scheduled Collateral Balance ~~338~~312,~~707~~510,~~006~~304.8960 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~338~~312,~~936~~682,~~078~~176.0876 Monthly P &I Constant 2,~~859~~657,~~957~~978.7177 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~44,947~~0.0900 Cumulative Realized Loss 487,~~740~~893.2564 Ending Scheduled Balance for Premium Loans ~~338~~312,~~707~~510,~~006~~304.8960 Scheduled Principal ~~249~~232,~~872~~291.4946 Unscheduled Principal 25,~~970~~964,~~326~~410.4683 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,849,617.39 Overcollateralized Amount 1,849,617.39 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~450~~452,~~189~~597.4510

Miscellaneous Reporting 3 Month Rolling Delinquency Avg 34.~~816459~~522723%

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 89.~~782132~~067084 8.~~431370~~477648 8.~~641298~~632880 Weighted Average Net Rate 8.~~433837~~720088 8.~~051186~~105391 8.~~274883~~271809 Weighted Average Maturity ~~317~~316 ~~332~~331 ~~327~~326 Beginning Loan Count 1,~~110~~066 ~~533~~489 1,~~643~~555 Loans Paid In Full 4451 4438 8889 Ending Loan Count 1,~~066~~015 ~~489~~451 1,~~555~~466 Beginning Scheduled Balance ~~157~~149,~~560~~977,~~008~~341.0070 ~~207~~188,~~367~~729,~~197~~665.8419 ~~364~~338,~~927~~707,~~205~~006.8489 Ending scheduled Balance ~~149~~140,~~977~~817,~~341~~056.7085 ~~188~~171,~~729~~693,~~665~~247.1975 ~~338~~312,~~707~~510,~~006~~304.8960 Record Date 0910/3031/2002 0910/3031/2002 0910/3031/2002 Principal And Interest Constant 1,~~265~~200,~~988~~025.1160 1,~~593~~457,~~969~~953.6017 2,~~859~~657,~~957~~978.7177 Scheduled Principal ~~112~~107,~~894~~657.1296 ~~136~~124,~~978~~633.3750 ~~249~~232,~~872~~291.4946 Unscheduled Principal 79,~~469~~052,~~772~~626.1889 1816,~~500~~911,~~554~~783.2894 25,~~970~~964,~~326~~410.4683 Scheduled Interest 1,~~153~~133,~~093~~214.9925 1,~~456~~333,~~991~~319.2367 2,~~610~~466,~~085~~533.2292 Servicing Fees 4543,~~731~~367.1592 6558,~~697~~546.9353 ~~111~~101,~~429~~914.0845 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~312~~249.9979 1,~~728~~572.0574 32,~~041~~822.0453 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 1,~~106~~088,~~049~~596.8554 1,~~389~~273,~~565~~200.2540 2,~~495~~361,~~615~~796.1094 Realized Loss Amount ~~44,947~~0.0900 0.00 ~~44,947~~0.0900 Cumulative Realized Loss 444,~~947~~100.0948 3,793.16 487,~~740~~893.2564 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.~~423837~~710088 8.~~041186~~095391 8.~~264883~~261809

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2001-AC2