8-K 1 bsa02ac2.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-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-12 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-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 2002-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 2002-AC2 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 2002-AC2 Trust, relating to the November 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 910/3031/02 Distribution Date: 1011/25/02 BSA Series: 2002-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-1 07384YDD5 SEN 6.75000% 0.00 0.00 0.00 A-2 07384YDE3 SEN 4.70000% 2719,~~266~~874,~~580~~766.8592 ~~106~~77,~~619~~791.2344 76,~~391~~600,~~813~~529.9326 A-3 07384YDF0 SEN 2.~~16375~~18000% 3123,~~940~~281,~~851~~869.1833 5742,~~499~~267.0347 87,~~658~~732,~~981~~048.8540 A-4 07384YDG8 SEN 6.~~33625~~32000% 0.00 ~~168~~122,~~378~~536.1788 0.00 A-5 07384YDH6 SEN 2.~~31375~~33000% 2623,~~386~~711,~~690~~557.5195 5046,~~793~~009.5254 2,~~675~~388,~~132~~762.5688 A-6 07384YDJ2 SEN 6.~~18625~~17000% 0.00 ~~135~~121,~~806~~836.1342 0.00 A-7 07384YDK9 SEN 6.25000% 99,112,715.00 515,~~366~~871.7320 0.00 A-8 07384YDL7 SEN 0.50000% 0.00 41,~~229~~269.3470 0.00 A-9 07384YDM5 SEN 6.50000% 29,100,000.00 157,~~366~~520.8892 0.00 A-10 07384YDN3 SEN 0.50000% 0.00 12,~~105~~116.1499 0.00 PO 07384YDQ6 PO 0.00000% 1,~~416~~364,~~789~~818.3667 0.00 5144,~~970~~770.6961 X-1 07384YDP8 SEN 0.~~86567~~86917% 0.00 ~~174~~161,~~303~~572.0836 0.00 B-1 07384YDR4 SUB 7.00000% 9,~~413~~406,~~860~~907.4092 54,~~824~~837.2640 67,~~952~~055.4867 B-2 07384YDS2 SUB 7.00000% 5,~~213~~209,~~813~~962.5192 30,~~364~~371.1138 3,~~850~~907.5974 B-3 07384YDT0 SUB 7.00000% 4,~~634~~631,~~489~~067.8309 26,~~990~~996.2572 3,~~422~~473.7454 B-4 07384YDW3 SUB 7.00000% 1,~~737~~736,~~971~~687.0550 10,~~121~~123.5699 1,~~283~~302.5661 B-5 07384YDY9 SUB 7.00000% 2,~~027~~026,~~632~~135.8941 11,~~808~~811.4932 1,~~497~~519.4871 B-6 07384YEA0 SUB 7.00000% 3,~~766~~763,~~318~~536.2771 21,~~934~~939.2147 2,~~781~~822.5685 R-1 07384YDU7 RES 7.00000% 0.00 0.00 0.00 R-2 07384YDV5 RES 7.00000% 0.00 0.00 0.00 Totals ~~242~~223,~~017~~220,~~712~~025.8542 1,~~575~~454,~~510~~873.1320 1816,~~797~~786,~~687~~193.4427

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 0.00 0.00 0.00 A-2 0.00 1913,~~874~~274,~~766~~237.9266 76,~~498~~678,~~433~~320.1670 0.00 A-3 0.00 2315,~~281~~549,~~869~~820.3393 87,~~716~~774,~~480~~315.8887 0.00 A-4 0.00 0.00 ~~168~~122,~~378~~536.1788 0.00 A-5 0.00 2321,~~711~~322,~~557~~795.9506 2,~~725~~434,~~926~~772.0842 0.00 A-6 0.00 0.00 ~~135~~121,~~806~~836.1342 0.00 A-7 0.00 99,112,715.00 515,~~366~~871.7320 0.00 A-8 0.00 0.00 41,~~229~~269.3470 0.00 A-9 0.00 29,100,000.00 157,~~366~~520.8892 0.00 A-10 0.00 0.00 12,~~105~~116.1499 0.00 PO 0.00 1,~~364~~320,~~818~~048.6705 5144,~~970~~770.6961 0.00 X-1 0.00 0.00 ~~174~~161,~~303~~572.0836 0.00 B-1 0.00 9,~~406~~399,~~907~~852.9225 61,~~776~~893.7407 0.00 B-2 0.00 5,~~209~~206,~~962~~055.9218 34,~~214~~279.7012 0.00 B-3 0.00 4,~~631~~627,~~067~~593.0955 30,~~412~~470.9926 0.00 B-4 0.00 1,~~736~~735,~~687~~384.5089 11,~~405~~426.1260 0.00 B-5 0.00 2,~~026~~024,~~135~~615.4171 13,~~305~~331.9703 0.00 B-6 0.00 3,~~763~~760,~~536~~713.7186 24,~~715~~762.7732 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~223~~206,~~220~~433,~~025~~832.4214 2018,~~373~~241,~~197~~066.5747 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-1 40,460,000.00 0.00 0.00 0.00 0.00 0.00 A-2 27,775,724.00 2719,~~266~~874,~~580~~766.8592 6257,~~330~~758.5922 76,~~329~~542,~~483~~771.3404 0.00 0.00 A-3 32,537,276.00 3123,~~940~~281,~~851~~869.1833 7367,~~015~~659.8363 87,~~585~~664,~~966~~388.0177 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 33,314,285.00 2623,~~386~~711,~~690~~557.5195 2220,~~557~~902.7497 2,~~652~~367,~~574~~859.8391 0.00 0.00 A-6 0.00 0.00 0.00 0.00 0.00 0.00 A-7 99,112,715.00 99,112,715.00 0.00 0.00 0.00 0.00 A-8 0.00 0.00 0.00 0.00 0.00 0.00 A-9 29,100,000.00 29,100,000.00 0.00 0.00 0.00 0.00 A-10 0.00 0.00 0.00 0.00 0.00 0.00 PO 1,505,268.84 1,~~416~~364,~~789~~818.3667 1,~~671~~637.8880 5043,~~298~~132.81 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,447,600.00 9,~~413~~406,~~860~~907.4092 67,~~952~~055.4867 0.00 0.00 0.00 B-2 5,232,500.00 5,~~213~~209,~~813~~962.5192 3,~~850~~907.5974 0.00 0.00 0.00 B-3 4,651,100.00 4,~~634~~631,~~489~~067.8309 3,~~422~~473.7454 0.00 0.00 0.00 B-4 1,744,200.00 1,~~737~~736,~~971~~687.0550 1,~~283~~302.5661 0.00 0.00 0.00 B-5 2,034,900.00 2,~~027~~026,~~632~~135.8941 1,~~497~~519.4871 0.00 0.00 0.00 B-6 3,779,816.00 3,~~766~~763,~~318~~536.2771 2,~~781~~822.5685 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 Totals 290,695,484.84 ~~242~~223,~~017~~220,~~712~~025.8542 ~~179~~168,~~364~~040.4574 1816,618,~~322~~152.9953 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-1 0.00 0.00 0.00000000 0.00 A-2 76,~~391~~600,~~813~~529.9326 1913,~~874~~274,~~766~~237.9266 0.~~71554451~~47790789 76,~~391~~600,~~813~~529.9326 A-3 87,~~658~~732,~~981~~048.8540 2315,~~281~~549,~~869~~820.3393 0.~~71554451~~47790789 87,~~658~~732,~~981~~048.8540 A-4 0.00 0.00 0.00000000 0.00 A-5 2,~~675~~388,~~132~~762.5688 2321,~~711~~322,~~557~~795.9506 0.~~71175347~~64004961 2,~~675~~388,~~132~~762.5688 A-6 0.00 0.00 0.00000000 0.00 A-7 0.00 99,112,715.00 1.00000000 0.00 A-8 0.00 0.00 0.00000000 0.00 A-9 0.00 29,100,000.00 1.00000000 0.00 A-10 0.00 0.00 0.00000000 0.00 PO 5144,~~970~~770.6961 1,~~364~~320,~~818~~048.6705 0.~~90669430~~87695169 5144,~~970~~770.6961 X-1 0.00 0.00 0.00000000 0.00 B-1 67,~~952~~055.4867 9,~~406~~399,~~907~~852.9225 0.~~99569287~~99494604 67,~~952~~055.4867 B-2 3,~~850~~907.5974 5,~~209~~206,~~962~~055.9218 0.~~99569287~~99494604 3,~~850~~907.5974 B-3 3,~~422~~473.7454 4,~~631~~627,~~067~~593.0955 0.~~99569287~~99494605 3,~~422~~473.7454 B-4 1,~~283~~302.5661 1,~~736~~735,~~687~~384.5089 0.~~99569287~~99494604 1,~~283~~302.5661 B-5 1,~~497~~519.4871 2,~~026~~024,~~135~~615.4171 0.~~99569286~~99494605 1,~~497~~519.4871 B-6 2,~~781~~822.5685 3,~~763~~760,~~536~~713.7186 0.~~99569310~~99494628 2,~~781~~822.5685 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 1816,~~797~~786,~~687~~193.4427 ~~223~~206,~~220~~433,~~025~~832.4214 0.~~76788267~~71013773 1816,~~797~~786,~~687~~193.4427

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 40,460,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 27,775,724.00 ~~981~~715.~~66949132~~54451362 2.~~24406716~~07944967 ~~263~~235.~~88091054~~55717360 0.00000000 A-3 32,537,276.00 ~~981~~715.~~66949132~~54451362 2.~~24406708~~07944974 ~~263~~235.~~88091031~~55717356 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 33,314,285.00 ~~792~~711.~~05333418~~75347002 0.~~67711914~~62744765 7971.~~62274532~~07641392 0.00000000 A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-7 99,112,715.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-9 29,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-10 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 1,505,268.84 ~~941~~906.~~22014776~~69429522 1.~~11068532~~08804484 3328.~~41516722~~65455582 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,447,600.00 ~~996~~995.~~42876498~~69286591 0.~~73589906~~74682141 0.00000000 0.00000000 B-2 5,232,500.00 ~~996~~995.~~42876445~~69286574 0.~~73589871~~74682083 0.00000000 0.00000000 B-3 4,651,100.00 ~~996~~995.~~42876524~~69286620 0.~~73589903~~74682118 0.00000000 0.00000000 B-4 1,744,200.00 ~~996~~995.~~42876390~~69286779 0.~~73590185~~74682376 0.00000000 0.00000000 B-5 2,034,900.00 ~~996~~995.~~42876308~~69286451 0.~~73589857~~74682294 0.00000000 0.00000000 B-6 3,779,816.00 ~~996~~995.~~42899813~~69309988 0.~~73589826~~74682207 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 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-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 ~~266~~237.~~12497770~~63662326 ~~715~~477.~~54451362~~90789036 0.~~71554451~~47790789 ~~266~~237.~~12497770~~63662326 A-3 0.00000000 ~~266~~237.~~12497770~~63662330 ~~715~~477.~~54451362~~90789032 0.~~71554451~~47790789 ~~266~~237.~~12497770~~63662330 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 8071.~~29986416~~70386157 ~~711~~640.~~75347002~~04960815 0.~~71175347~~64004961 8071.~~29986416~~70386157 A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 3429.~~52585254~~74260066 ~~906~~876.~~69429522~~95168791 0.~~90669430~~87695169 3429.~~52585254~~74260066 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~73589906~~74682141 ~~995~~994.~~69286591~~94604450 0.~~99569287~~99494604 0.~~73589906~~74682141 B-2 0.00000000 0.~~73589871~~74682083 ~~995~~994.~~69286574~~94604491 0.~~99569287~~99494604 0.~~73589871~~74682083 B-3 0.00000000 0.~~73589903~~74682118 ~~995~~994.~~69286620~~94604502 0.~~99569287~~99494605 0.~~73589903~~74682118 B-4 0.00000000 0.~~73590185~~74682376 ~~995~~994.~~69286779~~94604403 0.~~99569287~~99494604 0.~~73590185~~74682376 B-5 0.00000000 0.~~73589857~~74682294 ~~995~~994.~~69286451~~94604649 0.~~99569286~~99494605 0.~~73589857~~74682294 B-6 0.00000000 0.~~73589826~~74682207 ~~995~~994.~~69309988~~94627781 0.~~99569310~~99494628 0.~~73589826~~74682207 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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-1 40,460,000.00 6.75000% 0.00 0.00 0.00 0.00 A-2 27,775,724.00 4.70000% 2719,~~266~~874,~~580~~766.8592 ~~106~~77,~~794~~842.1184 0.00 0.00 A-3 32,537,276.00 2.~~16375~~18000% 3123,~~940~~281,~~851~~869.1833 5742,~~593~~295.3540 0.00 0.00 A-4 0.00 6.~~33625~~32000% 3123,~~940~~281,~~851~~869.1833 ~~168~~122,~~654~~617.3585 0.00 0.00 A-5 33,314,285.00 2.~~31375~~33000% 2623,~~386~~711,~~690~~557.5195 5046,~~876~~039.8494 0.00 0.00 A-6 0.00 6.~~18625~~17000% 2623,~~386~~711,~~690~~557.5195 ~~136~~121,~~028~~916.8993 0.00 0.00 A-7 99,112,715.00 6.25000% 99,112,715.00 516,212.06 0.00 0.00 A-8 0.00 0.50000% 99,112,715.00 41,296.96 0.00 0.00 A-9 29,100,000.00 6.50000% 29,100,000.00 157,625.00 0.00 0.00 A-10 0.00 0.50000% 29,100,000.00 12,125.00 0.00 0.00 PO 1,505,268.84 0.00000% 1,~~416~~364,~~789~~818.3667 0.00 0.00 0.00 X-1 0.00 0.~~86567~~86917% ~~242~~223,~~017~~220,~~713~~026.6514 ~~174~~161,~~588~~679.9812 0.00 0.00 B-1 9,447,600.00 7.00000% 9,~~413~~406,~~860~~907.4092 54,~~914~~873.1963 0.00 0.00 B-2 5,232,500.00 7.00000% 5,~~213~~209,~~813~~962.5192 30,~~413~~391.9145 0.00 0.00 B-3 4,651,100.00 7.00000% 4,~~634~~631,~~489~~067.8309 27,~~034~~014.5256 0.00 0.00 B-4 1,744,200.00 7.00000% 1,~~737~~736,~~971~~687.0550 10,~~138~~130.1668 0.00 0.00 B-5 2,034,900.00 7.00000% 2,~~027~~026,~~632~~135.8941 11,~~827~~819.8612 0.00 0.00 B-6 3,779,816.00 7.00000% 3,~~766~~763,~~318~~536.2771 21,~~970~~953.1996 0.00 0.00 R-1 50.00 7.00000% 0.00 0.00 0.00 0.00 R-2 50.00 7.00000% 0.00 0.00 0.00 0.00 Totals 290,695,484.84 1,~~578~~455,~~094~~834.3750 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-1 0.00 0.00 0.00 0.00 0.00 A-2 ~~174~~51.8840 0.00 ~~106~~77,~~619~~791.2344 0.00 1913,~~874~~274,~~766~~237.9266 A-3 9427.3193 0.00 5742,~~499~~267.0347 0.00 2315,~~281~~549,~~869~~820.3393 A-4 ~~276~~80.1897 0.00 ~~168~~122,~~378~~536.1788 0.00 2315,~~281~~549,~~869~~820.3393 A-5 8330.3140 0.00 5046,~~793~~009.5254 0.00 2321,~~711~~322,~~557~~795.9506 A-6 ~~222~~80.7650 0.00 ~~135~~121,~~806~~836.1342 0.00 2321,~~711~~322,~~557~~795.9506 A-7 ~~845~~340.3386 0.00 515,~~366~~871.7320 0.00 99,112,715.00 A-8 6727.6327 0.00 41,~~229~~269.3470 0.00 99,112,715.00 A-9 ~~258~~104.1208 0.00 157,~~366~~520.8892 0.00 29,100,000.00 A-10 198.8601 0.00 12,~~105~~116.1499 0.00 29,100,000.00 PO 0.00 0.00 0.00 0.00 1,~~364~~320,~~818~~048.6705 X-1 ~~285~~106.9076 0.00 ~~174~~161,~~303~~572.0836 0.00 ~~223~~206,~~220~~433,~~026~~832.1481 B-1 8936.9323 0.00 54,~~824~~837.2640 0.00 9,~~406~~399,~~907~~852.9225 B-2 4920.8007 0.00 30,~~364~~371.1138 0.00 5,~~209~~206,~~962~~055.9218 B-3 4417.2784 0.00 26,~~990~~996.2572 0.00 4,~~631~~627,~~067~~593.0955 B-4 166.6069 0.00 10,~~121~~123.5699 0.00 1,~~736~~735,~~687~~384.5089 B-5 197.3780 0.00 11,~~808~~811.4932 0.00 2,~~026~~024,~~135~~615.4171 B-6 3514.9850 0.00 21,~~934~~939.2147 0.00 3,~~763~~760,~~536~~713.7186 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals ~~2,584~~961.2331 0.00 1,~~575~~454,~~510~~873.1320 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-1 40,460,000.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 27,775,724.00 4.70000% ~~981~~715.~~66949132~~54451362 32.~~84487223~~80254945 0.00000000 0.00000000 A-3 32,537,276.00 2.~~16375~~18000% ~~981~~715.~~66949132~~54451362 1.~~77007289~~29990599 0.00000000 0.00000000 A-4 0.00 6.~~33625~~32000% ~~981~~715.~~66949132~~54451362 53.~~18341947~~76853459 0.00000000 0.00000000 A-5 33,314,285.00 2.~~31375~~33000% ~~792~~711.~~05333418~~75347002 1.~~52717791~~38198794 0.00000000 0.00000000 A-6 0.00 6.~~18625~~17000% ~~792~~711.~~05333418~~75347002 43.~~08320004~~65959918 0.00000000 0.00000000 A-7 99,112,715.00 6.25000% 1000.00000000 5.20833336 0.00000000 0.00000000 A-8 0.00 0.50000% 1000.00000000 0.41666662 0.00000000 0.00000000 A-9 29,100,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000 A-10 0.00 0.50000% 1000.00000000 0.41666667 0.00000000 0.00000000 PO 1,505,268.84 0.00000% ~~941~~906.~~22014776~~69429522 0.00000000 0.00000000 0.00000000 X-1 0.00 0.~~86567~~86917% ~~832~~767.~~54720308~~88267119 0.~~60059061~~55618036 0.00000000 0.00000000 B-1 9,447,600.00 7.00000% ~~996~~995.~~42876498~~69286591 5.~~81250159~~80820843 0.00000000 0.00000000 B-2 5,232,500.00 7.00000% ~~996~~995.~~42876445~~69286574 5.~~81250072~~80820831 0.00000000 0.00000000 B-3 4,651,100.00 7.00000% ~~996~~995.~~42876524~~69286620 5.~~81250027~~80820881 0.00000000 0.00000000 B-4 1,744,200.00 7.00000% ~~996~~995.~~42876390~~69286779 5.~~81249857~~80821007 0.00000000 0.00000000 B-5 2,034,900.00 7.00000% ~~996~~995.~~42876308~~69286451 5.~~81250184~~80820679 0.00000000 0.00000000 B-6 3,779,816.00 7.00000% ~~996~~995.~~42899813~~69309988 5.~~81250251~~80820865 0.00000000 0.00000000 R-1 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 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-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.~~00629615~~00185054 0.00000000 32.~~83857609~~80069891 0.00000000 ~~715~~477.~~54451362~~90789036 A-3 0.~~00289852~~00085840 0.00000000 1.~~76717406~~29904759 0.00000000 ~~715~~477.~~54451362~~90789032 A-4 0.~~00848811~~00248853 0.00000000 53.~~17493136~~76604606 0.00000000 ~~715~~477.~~54451362~~90789032 A-5 0.~~00250073~~00091252 0.00000000 1.~~52467688~~38107542 0.00000000 ~~711~~640.~~75347002~~04960815 A-6 0.~~00668662~~00241638 0.00000000 43.~~07651342~~65718250 0.00000000 ~~711~~640.~~75347002~~04960815 A-7 0.~~00852898~~00343911 0.00000000 5.~~19980438~~20489425 0.00000000 1000.00000000 A-8 0.~~00068235~~00027514 0.00000000 0.~~41598437~~41639158 0.00000000 1000.00000000 A-9 0.~~00887010~~00357663 0.00000000 5.~~40779656~~41309003 0.00000000 1000.00000000 A-10 0.~~00068247~~00027526 0.00000000 0.~~41598419~~41639141 0.00000000 1000.00000000 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~906~~876.~~69429522~~95168791 X-1 0.~~00098350~~00036726 0.00000000 0.~~59960711~~55581310 0.00000000 ~~767~~710.~~88267119~~13773139 B-1 0.~~00951882~~00383484 0.00000000 5.~~80298277~~80437360 0.00000000 ~~995~~994.~~69286591~~94604450 B-2 0.~~00951744~~00383564 0.00000000 5.~~80298328~~80437267 0.00000000 ~~995~~994.~~69286574~~94604491 B-3 0.~~00951818~~00383565 0.00000000 5.~~80298209~~80437316 0.00000000 ~~995~~994.~~69286620~~94604502 B-4 0.~~00951726~~00383557 0.00000000 5.~~80298131~~80437450 0.00000000 ~~995~~994.~~69286779~~94604403 B-5 0.~~00951890~~00383311 0.00000000 5.~~80298295~~80437368 0.00000000 ~~995~~994.~~69286451~~94604649 B-6 0.~~00951898~~00383617 0.00000000 5.~~80298353~~80437513 0.00000000 ~~995~~994.~~69309988~~94627781 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 2018,~~404~~277,~~718~~708.7980 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5054,~~843~~387.3797 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 2018,~~455~~332,~~562~~096.1677 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 8291,~~364~~030.5930 Payment of Interest and Principal 2018,~~373~~241,~~197~~066.5747 Total Withdrawals (Pool Distribution Amount) 2018,~~455~~332,~~562~~096.1677 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~18,308~~961.4230 Servicing Fee Support ~~15,724~~0.1900 Non-Supported Prepayment/Curtailment Interest Shortfall ~~2,584~~961.2331

SERVICING FEES Gross Servicing Fee 9487,~~055~~309.1793 Master Servicing Fee 43,~~033~~720.6137 Supported Prepayment/Curtailment Interest Shortfall ~~15,724~~0.1900 Net Servicing Fee 8291,~~364~~030.5930

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 67 0 0 0 67 3,~~222~~281,~~425~~274.5153 0.00 0.00 0.00 3,~~222~~281,~~425~~274.5153 60 Days 3 0 0 0 3 1,~~810~~107,~~760~~594.5679 0.00 0.00 0.00 1,~~810~~107,~~760~~594.5679 90 Days 02 0 0 0 02 01,412,256.0092 0.00 0.00 0.00 01,412,256.0092 120 Days 10 0 0 0 10 ~~449,330~~0.6800 0.00 0.00 0.00 ~~449,330~~0.6800 150 Days 21 0 0 0 21 ~~755~~449,~~476~~330.6268 0.00 0.00 0.00 ~~755~~449,~~476~~330.6268 180+ Days 02 0 0 0 02 0755,476.0062 0.00 0.00 0.00 0755,476.0062 Totals 1215 0 0 0 1215 67,~~237~~005,~~993~~933.3754 0.00 0.00 0.00 67,~~237~~005,~~993~~933.3754 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 1.~~140684~~443299% 0.000000% 0.000000% 0.000000% 1.~~140684~~443299% 1.~~442592~~588320% 0.000000% 0.000000% 0.000000% 1.~~442592~~588320% 60 Days 0.~~570342~~618557% 0.000000% 0.000000% 0.000000% 0.~~570342~~618557% 0.~~810628~~536138% 0.000000% 0.000000% 0.000000% 0.~~810628~~536138% 90 Days 0.~~000000~~412371% 0.000000% 0.000000% 0.000000% 0.~~000000~~412371% 0.~~000000~~683611% 0.000000% 0.000000% 0.000000% 0.~~000000~~683611% 120 Days 0.~~190114~~000000% 0.000000% 0.000000% 0.000000% 0.~~190114~~000000% 0.~~201153~~000000% 0.000000% 0.000000% 0.000000% 0.~~201153~~000000% 150 Days 0.~~380228~~206186% 0.000000% 0.000000% 0.000000% 0.~~380228~~206186% 0.~~338206~~217501% 0.000000% 0.000000% 0.000000% 0.~~338206~~217501% 180+ Days 0.~~000000~~412371% 0.000000% 0.000000% 0.000000% 0.~~000000~~412371% 0.~~000000~~365693% 0.000000% 0.000000% 0.000000% 0.~~000000~~365693% Totals 23.~~281369~~092784% 0.000000% 0.000000% 0.000000% 23.~~281369~~092784% 23.~~792580~~391263% 0.000000% 0.000000% 0.000000% 23.~~792580~~391263%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5054,~~843~~387.3797

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 8.~~311044~~315731% Weighted Average ~~Net Coupon 7.844688% Weighted Average~~ Pass-Through Rate 7.~~824689~~826365% Weighted Average Maturity(Stepdown Calculation ) ~~337~~336 Beginning Scheduled Collateral Loan Count ~~567~~526 Number Of Loans Paid In Full 41 Ending Scheduled Collateral Loan Count ~~526~~485 Beginning Scheduled Collateral Balance ~~242~~223,~~017~~220,~~712~~025.8642 Ending Scheduled Collateral Balance ~~223~~206,~~220~~433,~~025~~832.4214 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~223~~206,~~377~~587,~~398~~719.2234 Monthly P &I Constant 1,~~855~~714,~~547~~905.5751 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 18,020,991.64 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~223~~206,~~220~~433,~~025~~832.4214 Scheduled Principal ~~179~~168,~~364~~040.4574 Unscheduled Principal 1816,618,~~322~~152.9954

Miscellaneous Reporting Senior Percent 8887.~~863681~~931634% Senior Prep Percent 100.000000% Subordinate Percent 1112.~~136319~~068366% Subordinate Prep Percent 0.000000% Three Month Rolling Average 10.~~657236~~016657% Prepayment Penalties 05,828.0083

Filing Compare · BEAR STEARNS ASSET BCK SEC TR AS-BCK CER SER 2002-AC2