8-K 1 bsa02ac1.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 2002-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-04 Pooling and Servicing Agreement) (Commission 02-0606786 (State or other File Number) 01-0698820 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 November 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2002-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 2002-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 2002-AC1 Trust By: Wells Fargo Bank Minnesota, NA, 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 2002-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: 2002-AC1 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 I-A 07384YBW5 SEN 8.00000% ~~234~~224,~~225~~830,~~937~~793.6836 1,~~560~~497,~~937~~213.11 910,~~395~~073,~~144~~902.3222 II-A 07384YBX3 SEN 8.00000% ~~149~~138,~~301~~534,~~277~~219.7297 ~~994~~922,~~979~~539.0733 10,~~767~~836,~~057~~089.7508 X-1 07384YCA2 SEN 0.~~30896~~30865% 0.00 6966,~~113~~543.4909 0.00 R-1 07384YCG9 RES 8.00000% 0.00 0.00 0.00 X-2 07384YCB0 SEN 0.~~19162~~18859% 0.00 2825,~~085~~893.3729 0.00 R-2 07384YCH7 RES 8.00000% 0.00 0.00 0.00 X-3 07384YCC8 SEN 1.00000% 0.00 40,~~362~~303.6264 0.00 PO-1 07384YBY1 PO 0.00000% 6,~~250~~126,~~931~~936.7348 0.00 ~~123~~279,~~995~~316.2506 PO-2 07384YBZ8 PO 0.00000% 6,~~252~~029,~~063~~674.9235 0.00 ~~222~~320,~~389~~109.5665 B-1 07384YCD6 SUB 7.00000% 19,~~380~~366,~~922~~976.0555 ~~113~~112,~~014~~849.1700 1314,~~945~~139.4959 B-2 07384YCE4 SUB 7.00000% 9,~~690~~683,~~560~~587.4866 56,~~507~~425.6707 67,~~972~~069.8287 B-3 07384YCF1 SUB 7.00000% 8,~~306~~300,~~208~~232.9019 48,~~435~~364.2343 56,~~976~~059.7190 B-4 07384YCJ3 SUB 7.00000% 3,~~876~~873,~~184~~395.4131 22,~~602~~569.8480 2,~~789~~827.1092 B-5 07384YCL8 SUB 7.00000% 2,~~214~~213,~~962~~368.5275 12,~~915~~897.9003 1,~~593~~615.7795 B-6 07384YCN4 SUB 7.00000% 4,~~983~~980,~~967~~381.8565 29,~~062~~020.5508 3,~~586~~636.2011 XP BSA2AC1XP SEN 0.00000% 100.00 09,260.0039 0.00 Totals ~~444~~423,~~483~~939,~~117~~666.2627 2,~~976~~843,~~016~~878.0226 2021,~~543~~544,~~450~~766.9735

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~224~~214,~~830~~756,~~793~~891.3613 1011,~~956~~571,~~081~~115.4333 0.00 II-A 0.00 ~~138~~127,~~534~~698,~~219~~130.9789 11,~~762~~758,~~036~~628.8241 0.00 X-1 0.00 0.00 6966,~~113~~543.4909 0.00 R-1 0.00 0.00 0.00 0.00 X-2 0.00 0.00 2825,~~085~~893.3729 0.00 R-2 0.00 0.00 0.00 0.00 X-3 0.00 0.00 40,~~362~~303.6264 0.00 PO-1 0.00 65,~~126~~847,~~936~~620.4842 ~~123~~279,~~995~~316.2506 0.00 PO-2 0.00 65,~~029~~709,~~674~~564.3570 ~~222~~320,~~389~~109.5665 0.00 B-1 0.00 19,~~366~~352,~~976~~836.5597 126,~~959~~988.6659 0.00 B-2 0.00 9,~~683~~676,~~587~~517.6679 63,~~480~~494.4994 0.00 B-3 0.00 8,~~300~~294,~~232~~172.1929 54,~~411~~424.9433 0.00 B-4 0.00 3,~~873~~870,~~395~~567.3139 25,~~391~~397.9472 0.00 B-5 0.00 2,~~213~~211,~~368~~752.7580 14,~~509~~512.6798 0.00 B-6 0.00 4,~~980~~976,~~381~~745.6554 32,~~648~~656.7519 14.10 XP 0.00 100.00 09,260.0039 0.00 Totals 0.00 ~~423~~402,~~939~~394,~~666~~899.2792 2324,~~519~~388,~~466~~644.9961 14.10 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) I-A 287,145,000.00 ~~234~~224,~~225~~830,~~937~~793.6836 ~~166~~162,~~773~~300.8216 9,~~228~~911,~~370~~602.5006 0.00 0.00 II-A 206,224,000.00 ~~149~~138,~~301~~534,~~277~~219.7297 ~~108~~102,~~975~~707.4207 10,~~658~~733,~~082~~382.3301 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 X-3 0.00 0.00 0.00 0.00 0.00 0.00 PO-1 7,073,728.00 6,~~250~~126,~~931~~936.7348 5,~~762~~729.5001 ~~118~~273,~~232~~587.7505 0.00 0.00 PO-2 7,643,009.00 6,~~252~~029,~~063~~674.9235 5,~~293~~164.8217 ~~217~~314,~~095~~945.7448 0.00 0.00 B-1 19,488,000.00 19,~~380~~366,~~922~~976.0555 1314,~~945~~139.4959 0.00 0.00 0.00 B-2 9,744,100.00 9,~~690~~683,~~560~~587.4866 67,~~972~~069.8287 0.00 0.00 0.00 B-3 8,352,100.00 8,~~306~~300,~~208~~232.9019 56,~~976~~059.7190 0.00 0.00 0.00 B-4 3,897,600.00 3,~~876~~873,~~184~~395.4131 2,~~789~~827.1092 0.00 0.00 0.00 B-5 2,227,200.00 2,~~214~~213,~~962~~368.5275 1,~~593~~615.7795 0.00 0.00 0.00 B-6 5,011,522.00 4,~~983~~980,~~967~~381.8565 3,~~586~~636.2011 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 Totals 556,806,459.00 ~~444~~423,~~483~~939,~~117~~666.2627 ~~321~~311,~~669~~249.6575 2021,~~221~~233,~~781~~516.3260 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 I-A 910,~~395~~073,~~144~~902.3222 ~~224~~214,~~830~~756,~~793~~891.3613 0.~~78298697~~74790399 910,~~395~~073,~~144~~902.3222 II-A 10,~~767~~836,~~057~~089.7508 ~~138~~127,~~534~~698,~~219~~130.9789 0.~~67176575~~61922051 10,~~767~~836,~~057~~089.7508 X-1 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 X-3 0.00 0.00 0.00000000 0.00 PO-1 ~~123~~279,~~995~~316.2506 65,~~126~~847,~~936~~620.4842 0.~~86615381~~82666741 ~~123~~279,~~995~~316.2506 PO-2 ~~222~~320,~~389~~109.5665 65,~~029~~709,~~674~~564.3570 0.~~78891368~~74703101 ~~222~~320,~~389~~109.5665 B-1 1314,~~945~~139.4959 19,~~366~~352,~~976~~836.5597 0.~~99378985~~99306429 1314,~~945~~139.4959 B-2 67,~~972~~069.8287 9,~~683~~676,~~587~~517.6679 0.~~99378985~~99306429 67,~~972~~069.8287 B-3 56,~~976~~059.7190 8,~~300~~294,~~232~~172.1929 0.~~99378985~~99306429 56,~~976~~059.7190 B-4 2,~~789~~827.1092 3,~~873~~870,~~395~~567.3139 0.~~99378985~~99306429 2,~~789~~827.1092 B-5 1,~~593~~615.7795 2,~~213~~211,~~368~~752.7580 0.~~99378985~~99306430 1,~~593~~615.7795 B-6 3,~~586~~636.2011 4,~~980~~976,~~381~~745.6554 0.~~99378625~~99306070 3,~~586~~636.2011 XP 0.00 100.00 1.00000000 0.00 Totals 2021,~~543~~544,~~450~~766.9735 ~~423~~402,~~939~~394,~~666~~899.2792 0.~~76137706~~72268361 2021,~~543~~544,~~450~~766.9735

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 287,145,000.00 ~~815~~782.~~70613342~~98696951 0.~~58080001~~56522022 3234.~~13836389~~51775953 0.00000000 II-A 206,224,000.00 ~~723~~671.~~97624777~~76574972 0.~~52843229~~49803646 5152.~~68206576~~04720115 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 7,073,728.00 ~~883~~866.~~68279498~~15381310 0.~~81463409~~80989967 1638.~~71434780~~67650127 0.00000000 PO-2 7,643,009.00 ~~818~~788.~~01080177~~91367915 0.~~69263558~~67567237 2841.~~40448572~~20700106 0.00000000 B-1 19,488,000.00 ~~994~~993.~~50544181~~78984760 0.~~71559370~~72555367 0.00000000 0.00000000 B-2 9,744,100.00 ~~994~~993.~~50544227~~78984822 0.~~71559405~~72555392 0.00000000 0.00000000 B-3 8,352,100.00 ~~994~~993.~~50544175~~78984806 0.~~71559368~~72555405 0.00000000 0.00000000 B-4 3,897,600.00 ~~994~~993.~~50544181~~78984760 0.~~71559421~~72555419 0.00000000 0.00000000 B-5 2,227,200.00 ~~994~~993.~~50544181~~78984824 0.~~71559357~~72555226 0.00000000 0.00000000 B-6 5,011,522.00 ~~994~~993.~~50183996~~78624897 0.~~71559099~~72555004 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 3235.~~71916391~~08297975 ~~782~~747.~~98696951~~90398973 0.~~78298697~~74790399 3235.~~71916391~~08297975 II-A 0.00000000 52.~~21049805~~54523761 ~~671~~619.~~76574972~~22051211 0.~~67176575~~61922051 52.~~21049805~~54523761 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 0.00000000 1739.~~52898189~~48640095 ~~866~~826.~~15381310~~66741215 0.~~86615381~~82666741 1739.~~52898189~~48640095 PO-2 0.00000000 2941.~~09712130~~88267343 ~~788~~747.~~91367915~~03100572 0.~~78891368~~74703101 2941.~~09712130~~88267343 B-1 0.00000000 0.~~71559370~~72555367 993.~~78984760~~06429444 0.~~99378985~~99306429 0.~~71559370~~72555367 B-2 0.00000000 0.~~71559405~~72555392 993.~~78984822~~06429429 0.~~99378985~~99306429 0.~~71559405~~72555392 B-3 0.00000000 0.~~71559368~~72555405 993.~~78984806~~06429401 0.~~99378985~~99306429 0.~~71559368~~72555405 B-4 0.00000000 0.~~71559421~~72555419 993.~~78984760~~06429341 0.~~99378985~~99306429 0.~~71559421~~72555419 B-5 0.00000000 0.~~71559357~~72555226 993.~~78984824~~06429598 0.~~99378985~~99306430 0.~~71559357~~72555226 B-6 0.00000000 0.~~71559099~~72555004 993.~~78624897~~06069893 0.~~99378625~~99306070 0.~~71559099~~72555004 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 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 I-A 287,145,000.00 8.00000% ~~234~~224,~~225~~830,~~937~~793.6836 1,~~561~~498,~~506~~871.2596 0.00 0.00 II-A 206,224,000.00 8.00000% ~~149~~138,~~301~~534,~~277~~219.7297 ~~995~~923,~~341~~561.8547 0.00 0.00 X-1 0.00 0.~~30896~~30865% ~~268~~258,~~535~~996,~~376~~259.9512 6966,~~138~~616.6982 0.00 0.00 X-2 0.00 0.~~19162~~18859% ~~175~~164,~~947~~943,~~740~~407.3115 2825,~~095~~921.6198 0.00 0.00 R-1 50.00 8.00000% 0.00 0.00 0.00 0.00 X-3 0.00 1.00000% 48,~~452~~417,~~806~~942.2111 40,~~377~~348.3429 0.00 0.00 R-2 50.00 8.00000% 0.00 0.00 0.00 0.00 PO-1 7,073,728.00 0.00000% 6,~~250~~126,~~931~~936.7348 0.00 0.00 0.00 PO-2 7,643,009.00 0.00000% 6,~~252~~029,~~063~~674.9235 0.00 0.00 0.00 B-1 19,488,000.00 7.00000% 19,~~380~~366,~~922~~976.0555 ~~113~~112,~~055~~974.3803 0.00 0.00 B-2 9,744,100.00 7.00000% 9,~~690~~683,~~560~~587.4866 56,~~528~~487.2759 0.00 0.00 B-3 8,352,100.00 7.00000% 8,~~306~~300,~~208~~232.9019 48,~~452~~418.8902 0.00 0.00 B-4 3,897,600.00 7.00000% 3,~~876~~873,~~184~~395.4131 22,~~611~~594.0881 0.00 0.00 B-5 2,227,200.00 7.00000% 2,~~214~~213,~~962~~368.5275 12,~~920~~911.6132 0.00 0.00 B-6 5,011,522.00 7.00000% 4,~~983~~980,~~967~~381.8565 29,~~073~~052.1523 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 556,806,459.00 2,~~977~~837,~~101~~758.1252 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 I-A ~~569~~1,658.1485 0.00 1,~~560~~497,~~937~~213.11 0.00 ~~224~~214,~~830~~756,~~793~~891.3613 II-A ~~362~~1,022.7814 0.00 ~~994~~922,~~979~~539.0733 0.00 ~~138~~127,~~534~~698,~~219~~130.9789 X-1 2573.2073 0.00 6966,~~113~~543.4909 0.00 ~~258~~248,~~996~~622,~~259~~800.1247 X-2 1028.2469 0.00 2825,~~085~~893.3729 0.00 ~~164~~153,~~943~~772,~~407~~099.1545 R-1 0.00 0.00 0.00 0.00 0.00 X-3 1444.7265 0.00 40,~~362~~303.6264 0.00 48,~~417~~382,~~942~~592.1178 R-2 0.00 0.00 0.00 0.00 0.00 PO-1 0.00 0.00 0.00 0.00 65,~~126~~847,~~936~~620.4842 PO-2 0.00 0.00 0.00 0.00 65,~~029~~709,~~674~~564.3570 B-1 41125.2103 0.00 ~~113~~112,~~014~~849.1700 0.00 19,~~366~~352,~~976~~836.5597 B-2 2062.6052 0.00 56,~~507~~425.6707 0.00 9,~~683~~676,~~587~~517.6679 B-3 1753.6659 0.00 48,~~435~~364.2343 0.00 8,~~300~~294,~~232~~172.1929 B-4 825.2401 0.00 22,~~602~~569.8480 0.00 3,~~873~~870,~~395~~567.3139 B-5 414.7129 0.00 12,~~915~~897.9003 0.00 2,~~213~~211,~~368~~752.7580 B-6 1032.6015 0.00 29,~~062~~020.5508 0.00 4,~~980~~976,~~381~~745.6554 XP 0.00 0.00 09,260.0039 0.00 100.00 Totals 13,~~085~~140.1065 0.00 2,~~976~~843,~~016~~878.0226 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 I-A 287,145,000.00 8.00000% ~~815~~782.~~70613342~~98696951 5.~~43804089~~21991314 0.00000000 0.00000000 II-A 206,224,000.00 8.00000% ~~723~~671.~~97624777~~76574972 4.~~82650831~~47843835 0.00000000 0.00000000 X-1 0.00 0.~~30896~~30865% ~~832~~803.~~84492558~~25997491 0.~~21442913~~20660771 0.00000000 0.00000000 X-2 0.00 0.~~19162~~18859% ~~750~~703.~~71025190~~75843709 0.~~11987459~~11060043 0.00000000 0.00000000 R-1 50.00 8.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.00 1.00000% ~~994~~993.~~50507139~~78947767 0.~~82875426~~82815800 0.00000000 0.00000000 R-2 50.00 8.00000% 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 7,073,728.00 0.00000% ~~883~~866.~~68279498~~15381310 0.00000000 0.00000000 0.00000000 PO-2 7,643,009.00 0.00000% ~~818~~788.~~01080177~~91367915 0.00000000 0.00000000 0.00000000 B-1 19,488,000.00 7.00000% ~~994~~993.~~50544181~~78984760 5.~~80128181~~79710745 0.00000000 0.00000000 B-2 9,744,100.00 7.00000% ~~994~~993.~~50544227~~78984822 5.~~80128180~~79710697 0.00000000 0.00000000 B-3 8,352,100.00 7.00000% ~~994~~993.~~50544175~~78984806 5.~~80128231~~79710731 0.00000000 0.00000000 B-4 3,897,600.00 7.00000% ~~994~~993.~~50544181~~78984760 5.~~80128284~~79710848 0.00000000 0.00000000 B-5 2,227,200.00 7.00000% ~~994~~993.~~50544181~~78984824 5.~~80127963~~79710848 0.00000000 0.00000000 B-6 5,011,522.00 7.00000% ~~994~~993.~~50183996~~78624897 5.~~80126157~~79708719 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 I-A 0.~~00198206~~00577705 0.00000000 5.~~43605882~~21413610 0.00000000 ~~782~~747.~~98696951~~90398973 II-A 0.~~00175916~~00495646 0.00000000 4.~~82474916~~47348189 0.00000000 ~~671~~619.~~76574972~~22051211 X-1 0.~~00007816~~00022867 0.00000000 0.~~21435097~~20637905 0.00000000 ~~803~~771.~~25997491~~08737071 X-2 0.~~00004369~~00012241 0.00000000 0.~~11983089~~11047802 0.00000000 ~~703~~656.~~75843709~~09419768 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.~~00030213~~00091645 0.00000000 0.~~82845213~~82724155 0.00000000 993.~~78947767~~06392448 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 0.00000000 0.00000000 0.00000000 0.00000000 ~~866~~826.~~15381310~~66741215 PO-2 0.00000000 0.00000000 0.00000000 0.00000000 ~~788~~747.~~91367915~~03100572 B-1 0.~~00211463~~00641574 0.00000000 5.~~79916718~~79069171 0.00000000 993.~~78984760~~06429444 B-2 0.~~00211410~~00641619 0.00000000 5.~~79916770~~79069078 0.00000000 993.~~78984822~~06429429 B-3 0.~~00211444~~00641635 0.00000000 5.~~79916787~~79069096 0.00000000 993.~~78984806~~06429401 B-4 0.~~00211412~~00641677 0.00000000 5.~~79916872~~79069171 0.00000000 993.~~78984760~~06429341 B-5 0.~~00211476~~00641613 0.00000000 5.~~79916487~~79069235 0.00000000 993.~~78984824~~06429598 B-6 0.~~00211513~~00641522 0.00000000 5.~~79914645~~79067198 0.00000000 993.~~78624897~~06069893 XP 0.00000000 0.00000000 092603.~~00000000~~90000000 0.00000000 1000.00000000 (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 2324,~~448~~294,~~459~~279.1362 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~168~~160,~~703~~996.4130 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 2324,~~617~~455,~~162~~275.5492 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 9766,~~695~~631.5531 Payment of Interest and Principal 2324,~~519~~388,~~466~~644.9961 Total Withdrawals (Pool Distribution Amount) 2324,~~617~~455,~~162~~275.5492 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 5651,~~381~~548.6551 Servicing Fee Support 5548,~~296~~407.5586 Non-Supported Prepayment/Curtailment Interest Shortfall 13,~~085~~140.1065

SERVICING FEES Gross Servicing Fee ~~145~~107,~~583~~973.8558 Master Servicing Fee 7,~~408~~065.2559 Supported Prepayment/Curtailment Interest Shortfall 5548,~~296~~407.5586 Net Servicing Fee 9766,~~695~~631.5531

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4339 0 0 0 4339 7,~~055~~452,~~920~~328.9041 0.00 0.00 0.00 7,~~055~~452,~~920~~328.9041 60 Days 3016 0 0 0 3016 63,~~368~~449,~~147~~060.8387 0.00 0.00 0.00 63,~~368~~449,~~147~~060.8387 90 Days 1213 0 10 0 13 2,~~545~~803,~~939~~885.7029 0.00 ~~241,481~~0.7600 0.00 2,~~787~~803,~~421~~885.4629 120 Days 7 0 01 0 78 1,~~174~~420,~~673~~664.9572 0.00 0241,481.0076 0.00 1,~~174~~662,~~673~~146.9548 150 Days 8 0 0 0 8 1,~~643~~355,~~822~~580.0456 0.00 0.00 0.00 1,~~643~~355,~~822~~580.0456 180+ Days 714 0 65 0 1319 13,~~249~~101,~~927~~265.5027 0.00 1,~~782~~283,~~571~~396.2476 0.00 34,~~032~~384,~~498~~662.7403 Totals ~~107~~97 0 76 0 ~~114~~103 2019,~~038~~582,~~431~~785.9212 0.00 21,~~024~~524,~~053~~878.0052 0.00 2221,~~062~~107,~~484~~663.9264 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~013109~~902439% 0.000000% 0.000000% 0.000000% 21.~~013109~~902439% 1.~~663113~~850558% 0.000000% 0.000000% 0.000000% 1.~~663113~~850558% 60 Days 10.~~404494~~780488% 0.000000% 0.000000% 0.000000% 10.~~404494~~780488% 10.~~501001~~856469% 0.000000% 0.000000% 0.000000% 10.~~501001~~856469% 90 Days 0.~~561798~~634146% 0.000000% 0.~~046816~~000000% 0.000000% 0.~~608614~~634146% 0.~~600090~~696259% 0.000000% 0.~~056918~~000000% 0.000000% 0.~~657008~~696259% 120 Days 0.~~327715~~341463% 0.000000% 0.~~000000~~048780% 0.000000% 0.~~327715~~390244% 0.~~276876~~352779% 0.000000% 0.~~000000~~059965% 0.000000% 0.~~276876~~412743% 150 Days 0.~~374532~~390244% 0.000000% 0.000000% 0.000000% 0.~~374532~~390244% 0.~~387456~~336617% 0.000000% 0.000000% 0.000000% 0.~~387456~~336617% 180+ Days 0.~~327715~~682927% 0.000000% 0.~~280899~~243902% 0.000000% 0.~~608614~~926829% 0.~~294614~~770104% 0.000000% 0.~~420160~~318692% 0.000000% 01.~~714774~~088797% Totals 54.~~009363~~731707% 0.000000% 0.~~327715~~292683% 0.000000% 5.~~337079~~024390% 4.~~723150~~862786% 0.000000% 0.~~477079~~378657% 0.000000% 5.~~200228~~241443%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 3933 0 0 0 3933 5,~~354~~063,~~948~~126.4034 0.00 0.00 0.00 5,~~354~~063,~~948~~126.4034 60 Days 2312 0 0 0 2312 31,~~503~~688,~~303~~988.1162 0.00 0.00 0.00 31,~~503~~688,~~303~~988.1162 90 Days 911 0 10 0 1011 1,~~295~~741,~~508~~665.5240 0.00 ~~241,481~~0.7600 0.00 1,~~536~~741,~~990~~665.2840 120 Days 75 0 01 0 76 1744,~~174,673~~047.9559 0.00 0241,481.0076 0.00 1985,~~174,673~~529.9535 150 Days 78 0 0 0 78 ~~995~~1,~~674~~355,580.9556 0.00 0.00 0.00 ~~995~~1,~~674~~355,580.9556 180 Days 712 0 3 0 1015 1,~~249~~953,~~927~~943.5070 0.00 425,231.02 0.00 12,~~675~~379,~~158~~174.5272 Totals 9281 0 4 0 9685 1312,~~574~~547,~~036~~352.4321 0.00 666,712.78 0.00 1413,~~240~~214,~~749~~064.2199 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~249135~~970149% 0.000000% 0.000000% 0.000000% 21.~~249135~~970149% 2.~~066032~~034917% 0.000000% 0.000000% 0.000000% 2.~~066032~~034917% 60 Days 10.~~326413~~716418% 0.000000% 0.000000% 0.000000% 10.~~326413~~716418% 10.~~351635~~678820% 0.000000% 0.000000% 0.000000% 10.~~351635~~678820% 90 Days 0.~~519031~~656716% 0.000000% 0.~~057670~~000000% 0.000000% 0.~~576701~~656716% 0.~~499830~~699991% 0.000000% 0.~~093168~~000000% 0.000000% 0.~~592998~~699991% 120 Days 0.~~403691~~298507% 0.000000% 0.~~000000~~059701% 0.000000% 0.~~403691~~358209% 0.~~453210~~299040% 0.000000% 0.~~000000~~097054% 0.000000% 0.~~453210~~396093% 150 Days 0.~~403691~~477612% 0.000000% 0.000000% 0.000000% 0.~~403691~~477612% 0.~~384149~~544820% 0.000000% 0.000000% 0.000000% 0.~~384149~~544820% 180 Days 0.~~403691~~716418% 0.000000% 0.~~173010~~179104% 0.000000% 0.~~576701~~895522% 0.~~482244~~785308% 0.000000% 0.~~164062~~170904% 0.000000% 0.~~646305~~956212% Totals 54.~~305652~~835821% 0.000000% 0.~~230681~~238806% 0.000000% 5.~~536332~~074627% 5.~~237100~~042897% 0.000000% 0.~~257229~~267958% 0.000000% 5.~~494329~~310855% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 46 0 0 0 46 12,~~700~~389,~~972~~202.5007 0.00 0.00 0.00 12,~~700~~389,~~972~~202.5007 60 Days 74 0 0 0 74 21,~~864~~760,~~844~~072.7225 0.00 0.00 0.00 21,~~864~~760,~~844~~072.7225 90 Days 32 0 0 0 32 1,~~250~~062,~~431~~219.1889 0.00 0.00 0.00 1,~~250~~062,~~431~~219.1889 120 Days 02 0 0 0 02 0676,617.0013 0.00 0.00 0.00 0676,617.0013 150 Days 10 0 0 0 10 ~~648,147~~0.0900 0.00 0.00 0.00 ~~648,147~~0.0900 180 Days 02 0 32 0 34 01,147,321.0057 0.00 1858,~~357,340~~165.2274 0.00 12,~~357~~005,~~340~~487.2231 Totals 1516 0 32 0 18 67,~~464~~035,~~395~~432.4991 0.00 1858,~~357,340~~165.2274 0.00 7,~~821~~893,~~735~~598.7165 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~995025~~600000% 0.000000% 0.000000% 0.000000% 01.~~995025~~600000% 1.~~030455~~552491% 0.000000% 0.000000% 0.000000% 1.~~030455~~552491% 60 Days 1.~~741294~~066667% 0.000000% 0.000000% 0.000000% 1.~~741294~~066667% 1.~~735533~~143686% 0.000000% 0.000000% 0.000000% 1.~~735533~~143686% 90 Days 0.~~746269~~533333% 0.000000% 0.000000% 0.000000% 0.~~746269~~533333% 0.~~757516~~690225% 0.000000% 0.000000% 0.000000% 0.~~757516~~690225% 120 Days 0.~~000000~~533333% 0.000000% 0.000000% 0.000000% 0.~~000000~~533333% 0.~~000000~~439662% 0.000000% 0.000000% 0.000000% 0.~~000000~~439662% 150 Days 0.~~248756~~000000% 0.000000% 0.000000% 0.000000% 0.~~248756~~000000% 0.~~392650~~000000% 0.000000% 0.000000% 0.000000% 0.~~392650~~000000% 180 Days 0.~~000000~~533333% 0.000000% 0.~~746269~~533333% 0.000000% 01.~~746269~~066667% 0.~~000000~~745524% 0.000000% 0.~~822282~~557632% 0.000000% 01.~~822282~~303155% Totals 34.~~731343~~266667% 0.000000% 0.~~746269~~533333% 0.000000% 4.~~477612~~800000% 34.~~916154~~571588% 0.000000% 0.~~822282~~557632% 0.000000% 45.~~738436~~129219%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~168~~160,~~703~~996.4130

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~450518~~442726% Weighted Average ~~Net Coupon 8.057476% Weighted Average~~ Pass-Through Rate 78.~~950785~~032537% Weighted Average Maturity(Stepdown Calculation ) ~~334~~333 Beginning Scheduled Collateral Loan Count 2,~~213~~136 Number Of Loans Paid In Full 7786 Ending Scheduled Collateral Loan Count 2,~~136~~050 Beginning Scheduled Collateral Balance ~~444~~423,~~483~~939,~~117~~666.2627 Ending Scheduled Collateral Balance ~~423~~402,~~939~~394,~~666~~899.2792 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~424~~402,~~259~~707,~~936~~130.3776 Monthly P &I Constant 3,~~451~~293,~~763~~921.6369 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 23,465,311.82 Class AP Deferred Amount 0.00 Scheduled Principal ~~321~~311,~~669~~249.6775 Unscheduled Principal 2021,~~221~~233,~~781~~516.3260

Miscellaneous Reporting Senior Percentage Group I 8988.~~302260~~911850% Subordinate Percentage Group I 1011.~~697740~~088150% Senior Prep. Percentage Group I 100.000000% Subordinate Prep. Percentage Group I 0.000000% Senior Percentage Group II 87.~~981840~~175801% Subordinate Percentage Group II 12.~~018160~~824199% Senior Prep. Percentage Group II 100.000000% Subordinate Prep. Percentage Group II 0.000000% Three Months Rolling Average 23.~~916101~~301914% Prepayment Charge Payment Amount 09,260.0039

Group Level Collateral Statement Group Group I Group II Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~531540~~523113 8.~~326861~~316500 8.~~450518~~442726 Weighted Average Net Rate 8.~~142737~~250272 7.~~927349~~959388 8.~~057476~~137097 Weighted Average Maturity ~~322~~321 ~~334~~333 ~~334~~333 Beginning Loan Count 1,~~786~~734 ~~427~~402 2,~~213~~136 Loans Paid In Full 5259 2527 7786 Ending Loan Count 1,~~734~~675 ~~402~~375 2,~~136~~050 Beginning Scheduled Balance ~~268~~258,~~535~~996,~~376~~259.9512 ~~175~~164,~~947~~943,~~740~~407.3115 ~~444~~423,~~483~~939,~~117~~666.2627 Ending scheduled Balance ~~258~~248,~~996~~622,~~259~~800.1247 ~~164~~153,~~943~~772,~~407~~099.1545 ~~423~~402,~~939~~394,~~666~~899.2792 Record Date 0910/3031/2002 0910/3031/2002 0910/3031/2002 Principal And Interest Constant 2,~~101~~027,~~698~~814.2488 1,~~350~~266,~~065~~106.3981 3,~~451~~293,~~763~~921.6369 Scheduled Principal ~~192~~188,~~514~~269.5854 ~~129~~122,~~155~~980.0921 ~~321~~311,~~669~~249.6775 Unscheduled Principal 910,~~346~~185,~~603~~189.2511 1011,~~875~~048,~~178~~327.0749 2021,~~221~~233,~~781~~516.3260 Scheduled Interest 1,~~909~~839,~~183~~545.6634 1,~~220~~143,~~910~~126.3060 32,~~130~~982,~~093~~671.9694 Servicing Fees 8758,~~006~~887.2441 5849,~~577~~086.6117 ~~145~~107,~~583~~973.8558 Master Servicing Fees 4,~~475~~316.7461 2,~~932~~748.5198 7,~~408~~065.2559 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 2523,~~902~~929.7110 65,~~207~~944.7845 3229,~~110~~873.4955 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,~~791~~752,~~798~~412.9722 1,~~153~~085,~~192~~347.4000 2,~~944~~837,~~991~~759.3722 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 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.~~006986~~119402 7.~~865011~~896140 78.~~950785~~032537

Filing Compare · BEAR STEARNS ASSET BACKED SEC TR ASSET BACK CER SER 2002-AC1