8-K 1 sac02al1.txt DECEMBER 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): December 26, 2002 STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-AL1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82146-04 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2002 a distribution was made to holders of STRUCTURED ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-AL1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AL1 Trust, relating to the December 26, 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. STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-AL1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AL1 Trust, relating to the December 26, 2002 distribution. EX-99.1

Structured Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 SASC Series: 2002-AL1 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 86358RXX0 SEN 3.45000% 9794,~~734~~078,~~332~~451.5923 ~~280~~270,~~986~~475.2155 3,~~655~~373,~~881~~114.3620 A-2 86358RXY8 SEN 3.45000% ~~136~~133,~~155~~372,~~313~~963.4439 ~~391~~383,~~446~~447.5327 2,~~782~~622,~~350~~163.0533 A-3 86358RXZ5 SEN 3.45000% ~~377~~371,~~380~~117,~~855~~794.2298 1,~~084~~066,~~969~~963.9666 65,~~263~~380,~~060~~709.2438 A-PO 86358RYB7 PO 0.00000% 9,~~819~~620,~~386~~764.3004 0.00 ~~198~~178,~~622~~928.2512 A-IO 86358RYA9 IO 3.45000% 0.00 ~~103~~101,~~954~~451.8082 0.00 B-1 86358RYC5 SUB 3.45000% 20,~~492~~403,~~334~~637.7549 58,~~915~~660.46 88,~~697~~402.2653 B-2 86358RYD3 SUB 3.45000% 15,~~660~~592,~~643~~859.3921 4544,~~024~~829.3547 67,~~784~~558.1894 B-3 86358RYE1 SUB 3.45000% 11,~~745~~694,~~724~~885.5638 33,~~768~~622.9680 50,~~839~~670.1825 B-4 86358RXU6 SUB 3.45000% 9,~~732~~689,~~116~~992.4681 27,~~979~~858.8373 4241,~~123~~983.6568 B-5 86358RXV4 SUB 3.45000% 7,~~621~~588,~~700~~711.2817 21,~~912~~817.3954 32,~~989~~879.1149 B-6 86358RXW2 SUB 3.45000% 17,~~369~~294,~~223~~044.5712 49,~~936~~720.5238 72,~~978~~370.7307 O SAS02AL1O RES 3.45000% 100.00 0.29 0.00 Totals ~~703~~690,~~711~~454,~~730~~203.5682 2,~~098~~058,~~895~~847.3097 1311,~~255~~908,~~326~~779.0199

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 9490,~~078~~705,~~451~~337.2303 3,~~936~~643,~~867~~589.5775 0.00 A-2 0.00 ~~133~~130,~~372~~750,~~963~~800.3927 3,~~173~~005,~~796~~610.5860 0.00 A-3 0.00 ~~371~~365,~~117~~737,~~794~~086.9842 76,~~348~~447,~~030~~673.2004 0.00 A-PO 0.00 9,~~620~~441,~~764~~835.0492 ~~198~~178,~~622~~928.2512 0.00 A-IO 0.00 0.00 ~~103~~101,~~954~~451.8082 0.00 B-1 0.00 20,~~403~~315,~~637~~234.4997 147,~~612~~062.7299 0.00 B-2 0.00 15,~~592~~525,~~859~~300.2127 112,~~808~~388.5341 0.00 B-3 0.00 11,~~694~~644,~~885~~215.3813 84,~~608~~293.1405 0.00 B-4 0.00 9,~~689~~648,~~992~~009.8112 7069,~~103~~842.4841 0.00 B-5 0.00 7,~~588~~555,~~711~~831.1767 54,~~901~~697.5003 0.00 B-6 2877,~~200~~056.72 1716,~~294~~344,~~044~~617.1233 122,~~915~~090.2545 25902,~~890~~947.8860 O 0.00 100.00 0.29 0.00 Totals 2877,~~200~~056.72 ~~690~~677,~~454~~668,~~203~~368.8213 1513,~~354~~967,~~221~~627.3196 25902,~~890~~947.8860 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-1 117,197,000.00 9794,~~734~~078,~~332~~451.5923 ~~510~~542,~~348~~048.1712 32,~~145~~831,~~533~~066.1908 0.00 0.00 A-2 155,630,000.00 ~~136~~133,~~155~~372,~~313~~963.4439 ~~585~~554,~~955~~495.2541 2,~~196~~067,~~394~~667.8092 0.00 0.00 A-3 416,837,000.00 ~~377~~371,~~380~~117,~~855~~794.2298 1,~~551~~498,~~447~~323.6474 43,~~711~~932,~~612~~621.5996 0.00 0.00 A-PO 11,064,295.07 9,~~819~~620,~~386~~764.3004 4644,~~792~~227.6834 ~~151~~134,~~829~~700.5878 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 21,168,000.00 20,~~492~~403,~~334~~637.7549 88,~~697~~402.2653 0.00 0.00 0.00 B-2 16,177,000.00 15,~~660~~592,~~643~~859.3921 67,~~784~~558.1894 0.00 0.00 0.00 B-3 12,133,000.00 11,~~745~~694,~~724~~885.5638 50,~~839~~670.1825 0.00 0.00 0.00 B-4 10,053,000.00 9,~~732~~689,~~116~~992.4681 4241,~~123~~983.6568 0.00 0.00 0.00 B-5 7,873,000.00 7,~~621~~588,~~700~~711.2817 32,~~989~~879.1149 0.00 0.00 0.00 B-6 17,942,015.00 17,~~369~~294,~~223~~044.5712 72,~~978~~370.7307 0.00 0.00 2877,~~200~~056.72 O 100.00 100.00 0.00 0.00 0.00 0.00 Totals 786,074,410.07 ~~703~~690,~~711~~454,~~730~~203.5682 32,~~049~~992,~~955~~959.8557 108,~~205~~966,~~370~~056.1674 0.00 2877,~~200~~056.72 (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 3,~~655~~373,~~881~~114.3620 9490,~~078~~705,~~451~~337.2303 0.~~80273771~~77395613 3,~~655~~373,~~881~~114.3620 A-2 2,~~782~~622,~~350~~163.0533 ~~133~~130,~~372~~750,~~963~~800.3927 0.~~85698749~~84013879 2,~~782~~622,~~350~~163.0533 A-3 65,~~263~~380,~~060~~709.2438 ~~371~~365,~~117~~737,~~794~~086.9842 0.~~89031875~~87741032 65,~~263~~380,~~060~~709.2438 A-PO ~~198~~178,~~622~~928.2512 9,~~620~~441,~~764~~835.0492 0.~~86953249~~85336082 ~~198~~178,~~622~~928.2512 A-IO 0.00 0.00 0.00000000 0.00 B-1 88,~~697~~402.2653 20,~~403~~315,~~637~~234.4997 0.~~96389066~~95971443 88,~~697~~402.2653 B-2 67,~~784~~558.1894 15,~~592~~525,~~859~~300.2127 0.~~96389066~~95971443 67,~~784~~558.1894 B-3 50,~~839~~670.1825 11,~~694~~644,~~885~~215.3813 0.~~96389066~~95971443 50,~~839~~670.1825 B-4 4241,~~123~~983.6568 9,~~689~~648,~~992~~009.8112 0.~~96389066~~95971443 4241,~~123~~983.6568 B-5 32,~~989~~879.1149 7,~~588~~555,~~711~~831.1767 0.~~96389066~~95971443 32,~~989~~879.1149 B-6 75949,~~179~~426.4579 1716,~~294~~344,~~044~~617.1233 0.~~96388528~~91096888 72,~~978~~370.7307 O 0.00 100.00 1.00000000 0.00 Totals 1312,~~257~~785,~~526~~836.7371 ~~690~~677,~~454~~668,~~203~~368.8213 0.~~87835731~~86209188 1311,~~255~~908,~~326~~779.0199

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 117,197,000.00 ~~833~~802.~~93203401~~73770856 4.~~35461804~~62510235 2624.~~83970742~~15647226 0.00000000 A-2 155,630,000.00 ~~874~~856.~~86547221~~98749206 3.~~76505333~~56290824 1413.~~11292681~~28579271 0.00000000 A-3 416,837,000.00 ~~905~~890.~~34394792~~31874565 3.~~72195280~~59450754 119.~~30324945~~43443591 0.00000000 A-PO 11,064,295.07 ~~887~~869.~~48413142~~53248979 43.~~22916053~~99730301 1312.~~72248110~~17436621 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 21,168,000.00 ~~968~~963.~~08081774~~89065996 4.~~19015779~~17623441 0.00000000 0.00000000 B-2 16,177,000.00 ~~968~~963.~~08081783~~89066020 4.~~19015763~~17623416 0.00000000 0.00000000 B-3 12,133,000.00 ~~968~~963.~~08081760~~89066018 4.~~19015742~~17623424 0.00000000 0.00000000 B-4 10,053,000.00 ~~968~~963.~~08081767~~89066050 4.~~19015717~~17623396 0.00000000 0.00000000 B-5 7,873,000.00 ~~968~~963.~~08081799~~89066049 4.~~19015750~~17623396 0.00000000 0.00000000 B-6 17,942,015.00 ~~968~~963.~~07541238~~88527821 4.~~06747681~~03355309 0.00000000 0.00000000 O 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are 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-1 0.00000000 3128.~~19432545~~78157461 ~~802~~773.~~73770856~~95613395 0.~~80273771~~77395613 3128.~~19432545~~78157461 A-2 0.00000000 1716.~~87798015~~84870096 ~~856~~840.~~98749206~~13879246 0.~~85698749~~84013879 1716.~~87798015~~84870096 A-3 0.00000000 1512.~~02520227~~90842555 ~~890~~877.~~31874565~~41032207 0.~~89031875~~87741032 1512.~~02520227~~90842555 A-PO 0.00000000 1716.~~95164073~~17166922 ~~869~~853.~~53248979~~36082057 0.~~86953249~~85336082 1716.~~95164073~~17166922 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4.~~19015779~~17623441 ~~963~~959.~~89065996~~71442602 0.~~96389066~~95971443 4.~~19015779~~17623441 B-2 0.00000000 4.~~19015763~~17623416 ~~963~~959.~~89066020~~71442604 0.~~96389066~~95971443 4.~~19015763~~17623416 B-3 0.00000000 4.~~19015742~~17623424 ~~963~~959.~~89066018~~71442595 0.~~96389066~~95971443 4.~~19015742~~17623424 B-4 0.00000000 4.~~19015717~~17623396 ~~963~~959.~~89066050~~71442554 0.~~96389066~~95971443 4.~~19015717~~17623396 B-5 0.00000000 4.~~19015750~~17623396 ~~963~~959.~~89066049~~71442525 0.~~96389066~~95971443 4.~~19015750~~17623396 B-6 048.~~12265735~~88284398 452.~~19013416~~91639707 ~~963~~910.~~88527821~~96888114 0.~~96388528~~91096888 4.~~06747681~~03355309 O 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 A-1 117,197,000.00 3.45000% 9794,~~734~~078,~~332~~451.5923 ~~280~~270,~~986~~475.2155 0.00 0.00 A-2 155,630,000.00 3.45000% ~~136~~133,~~155~~372,~~313~~963.4439 ~~391~~383,~~446~~447.5327 0.00 0.00 A-3 416,837,000.00 3.45000% ~~377~~371,~~380~~117,~~855~~794.2298 1,~~084~~066,~~969~~963.9666 0.00 0.00 A-PO 11,064,295.07 0.00000% 9,~~819~~620,~~386~~764.3004 0.00 0.00 0.00 A-IO 0.00 3.45000% 3635,~~158~~287,~~191~~588.7595 ~~103~~101,~~955~~452.1207 0.00 0.00 B-1 21,168,000.00 3.45000% 20,~~492~~403,~~334~~637.7549 58,~~915~~660.46 0.00 0.00 B-2 16,177,000.00 3.45000% 15,~~660~~592,~~643~~859.3921 4544,~~024~~829.3547 0.00 0.00 B-3 12,133,000.00 3.45000% 11,~~745~~694,~~724~~885.5638 33,~~768~~622.9680 0.00 0.00 B-4 10,053,000.00 3.45000% 9,~~732~~689,~~116~~992.4681 27,~~979~~858.8373 0.00 0.00 B-5 7,873,000.00 3.45000% 7,~~621~~588,~~700~~711.2817 21,~~912~~817.3954 0.00 0.00 B-6 17,942,015.00 3.45000% 17,~~369~~294,~~223~~044.5712 49,~~936~~720.5238 0.00 0.00 O 100.00 3.45000% 100.00 0.29 0.00 0.00 Totals 786,074,410.07 2,~~098~~058,~~895~~848.6222 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 ~~280~~270,~~986~~475.2155 0.00 9490,~~078~~705,~~451~~337.2303 A-2 0.00 0.00 ~~391~~383,~~446~~447.5327 0.00 ~~133~~130,~~372~~750,~~963~~800.3927 A-3 0.00 0.00 1,~~084~~066,~~969~~963.9666 0.00 ~~371~~365,~~117~~737,~~794~~086.9842 A-PO 0.00 0.00 0.00 0.00 9,~~620~~441,~~764~~835.0492 A-IO 0.00 0.00 ~~103~~101,~~954~~451.8082 0.00 3534,~~287~~666,~~588~~058.9522 B-1 0.00 0.00 58,~~915~~660.46 0.00 20,~~403~~315,~~637~~234.4997 B-2 0.00 0.00 4544,~~024~~829.3547 0.00 15,~~592~~525,~~859~~300.2127 B-3 0.00 0.00 33,~~768~~622.9680 0.00 11,~~694~~644,~~885~~215.3813 B-4 0.00 0.00 27,~~979~~858.8373 0.00 9,~~689~~648,~~992~~009.8112 B-5 0.00 0.00 21,~~912~~817.3954 0.00 7,~~588~~555,~~711~~831.1767 B-6 0.00 0.00 49,~~936~~720.5238 0.00 1716,~~294~~344,~~044~~617.1233 O 0.00 0.00 0.29 0.00 100.00 Totals 0.00 0.00 2,~~098~~058,~~895~~847.3097 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-1 117,197,000.00 3.45000% ~~833~~802.~~93203401~~73770856 2.~~39755463~~30787094 0.00000000 0.00000000 A-2 155,630,000.00 3.45000% ~~874~~856.~~86547221~~98749206 2.~~51523826~~46383904 0.00000000 0.00000000 A-3 416,837,000.00 3.45000% ~~905~~890.~~34394792~~31874565 2.~~60286385~~55966639 0.00000000 0.00000000 A-PO 11,064,295.07 0.00000% ~~887~~869.~~48413142~~53248979 0.00000000 0.00000000 0.00000000 A-IO 0.00 3.45000% ~~877~~856.~~84195821~~70562285 2.~~52380337~~46303478 0.00000000 0.00000000 B-1 21,168,000.00 3.45000% ~~968~~963.~~08081774~~89065996 2.~~78323224~~77118575 0.00000000 0.00000000 B-2 16,177,000.00 3.45000% ~~968~~963.~~08081783~~89066020 2.~~78323237~~77118563 0.00000000 0.00000000 B-3 12,133,000.00 3.45000% ~~968~~963.~~08081760~~89066018 2.~~78323251~~77118602 0.00000000 0.00000000 B-4 10,053,000.00 3.45000% ~~968~~963.~~08081767~~89066050 2.~~78323187~~77118572 0.00000000 0.00000000 B-5 7,873,000.00 3.45000% ~~968~~963.~~08081799~~89066049 2.~~78323257~~77118506 0.00000000 0.00000000 B-6 17,942,015.00 3.45000% ~~968~~963.~~07541238~~88527821 2.~~78321694~~77117035 0.00000000 0.00000000 O 100.00 3.45000% 1000.00000000 2.90000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 A-1 0.00000000 0.00000000 2.~~39755463~~30787094 0.00000000 ~~802~~773.~~73770856~~95613395 A-2 0.00000000 0.00000000 2.~~51523826~~46383904 0.00000000 ~~856~~840.~~98749206~~13879246 A-3 0.00000000 0.00000000 2.~~60286385~~55966639 0.00000000 ~~890~~877.~~31874565~~41032207 A-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~869~~853.~~53248979~~36082057 A-IO 0.00000000 0.00000000 2.~~52379560~~46302871 0.00000000 ~~856~~841.~~70562285~~61621360 B-1 0.00000000 0.00000000 2.~~78323224~~77118575 0.00000000 ~~963~~959.~~89065996~~71442602 B-2 0.00000000 0.00000000 2.~~78323237~~77118563 0.00000000 ~~963~~959.~~89066020~~71442604 B-3 0.00000000 0.00000000 2.~~78323251~~77118602 0.00000000 ~~963~~959.~~89066018~~71442595 B-4 0.00000000 0.00000000 2.~~78323187~~77118572 0.00000000 ~~963~~959.~~89066050~~71442554 B-5 0.00000000 0.00000000 2.~~78323257~~77118506 0.00000000 ~~963~~959.~~89066049~~71442525 B-6 0.00000000 0.00000000 2.~~78321694~~77117035 0.00000000 ~~963~~910.~~88527821~~96888114 O 0.00000000 0.00000000 2.90000000 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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage A-1 (a) 3.45000% 0.00 0.00 ~~56,064,038.51~~ 52,408,157.15 6949,035,042.~~39023291~~95 64.92411175% A-1 (b) 3.45000% 0.00 0.00 41,670,294.08 41,670,294.08 100.00000000% A-2 (1) 3.45000% 0.00 0.00 5,776,810.75 5,776,810.75 100.00000000% A-2 (2) 3.45000% 0.00 0.00 ~~130,378,502.69~~ 127,596,152.64 85124,973,989.~~14743882~~52 83.39761746% A-3 (1) 3.45000% 0.00 0.00 31,021,012.03 31,021,012.03 100.00000000% A-3 (2) 3.45000% 0.00 0.00 ~~84,105,611.53~~ 82,310,750.82 8580,619,225.~~14743883~~25 83.39761795% A-3 (3) 3.45000% 0.00 0.00 ~~262,254,231.65~~ 257,786,032.13 89254,096,849.~~15382001~~14 87.87793725% A-PO (1) 0.00000% 0.00 0.00 2,~~696~~623,~~716~~887.8240 2,~~623~~563,~~887~~836.4023 8583.~~28857133~~33662839% A-PO (2) 0.00000% 0.00 0.00 4,~~274~~190,~~415~~643.4873 4,~~190~~107,~~643~~506.7371 8684.~~61616270~~89780865% A-PO (3) 0.00000% 0.00 0.00 2,~~848~~806,~~254~~232.0091 2,~~806~~770,~~232~~492.9198 8987.~~09706319~~96233101% A-IO (1) 3.45000% 43,~~059~~853,~~436~~232.5361 3,~~853~~732,~~232~~636.6121 0.00 0.00 8380.~~02649022~~42797182% A-IO (2) 3.45000% 9,~~401~~292,~~477~~240.9144 9,~~292~~138,~~240~~581.4405 0.00 0.00 8079.~~60305437~~27017709% A-IO (3) 3.45000% 22,~~697~~142,~~277~~115.3190 2221,~~142~~794,~~115~~840.9096 0.00 0.00 8887.~~49589155~~10793001%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1514,~~421~~902,~~057~~449.9263 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7985,~~569~~878.1495 Realized Losses 0(877,056.0072) Prepayment Penalties 0.00 Total Deposits 1514,~~500~~111,~~627~~271.0686 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~146~~143,~~405~~643.7590 Payment of Interest and Principal 1513,~~354~~967,~~221~~627.3196 Total Withdrawals (Pool Distribution Amount) 1514,~~500~~111,~~627~~271.0686 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~146~~143,~~405~~643.7590 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~146~~143,~~405~~643.7590

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 ~~421~~441 0 0 0 ~~421~~441 1013,~~713~~954,~~329~~351.7953 0.00 0.00 0.00 1013,~~713~~954,~~329~~351.7953 60 Days 88113 0 0 0 88113 2,~~121~~697,~~005~~280.1054 0.00 0.00 0.00 2,~~121~~697,~~005~~280.1054 90 Days 7656 0 0 0 7656 21,~~135~~580,~~977~~647.9788 0.00 0.00 0.00 21,~~135~~580,~~977~~647.9788 120 Days 6957 0 0 0 6957 1,~~916~~548,~~412~~972.9273 0.00 0.00 0.00 1,~~916~~548,~~412~~972.9273 150 Days 3060 0 0 0 3060 ~~786~~1,~~031~~677,316.60 0.00 0.00 0.00 ~~786~~1,~~031~~677,316.60 180+ Days 5875 0 0 0 5875 12,~~693~~044,~~385~~327.2767 0.00 0.00 0.00 12,~~693~~044,~~385~~327.2767 Totals ~~742~~802 0 0 0 ~~742~~802 1923,~~366~~502,~~142~~896.6595 0.00 0.00 0.00 1923,~~366~~502,~~142~~896.6595 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 12.~~894519~~022194% 0.000000% 0.000000% 0.000000% 12.~~894519~~022194% 12.~~551635~~059171% 0.000000% 0.000000% 0.000000% 12.~~551635~~059171% 60 Days 0.~~396004~~518158% 0.000000% 0.000000% 0.000000% 0.~~396004~~518158% 0.~~307190~~398024% 0.000000% 0.000000% 0.000000% 0.~~307190~~398024% 90 Days 0.~~342003~~256787% 0.000000% 0.000000% 0.000000% 0.~~342003~~256787% 0.~~309358~~233248% 0.000000% 0.000000% 0.000000% 0.~~309358~~233248% 120 Days 0.~~310503~~261372% 0.000000% 0.000000% 0.000000% 0.~~310503~~261372% 0.~~277558~~228574% 0.000000% 0.000000% 0.000000% 0.~~277558~~228574% 150 Days 0.~~135001~~275128% 0.000000% 0.000000% 0.000000% 0.~~135001~~275128% 0.~~113843~~247513% 0.000000% 0.000000% 0.000000% 0.~~113843~~247513% 180+ Days 0.~~261003~~343910% 0.000000% 0.000000% 0.000000% 0.~~261003~~343910% 0.~~245257~~301671% 0.000000% 0.000000% 0.000000% 0.~~245257~~301671% Totals 3.~~339033~~677550% 0.000000% 0.000000% 0.000000% 3.~~339033~~677550% 23.~~804841~~468200% 0.000000% 0.000000% 0.000000% 23.~~804841~~468200%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3540 0 0 0 3540 1,~~004~~352,~~712~~648.9884 0.00 0.00 0.00 1,~~004~~352,~~712~~648.9884 60 Days 67 0 0 0 67 ~~150~~146,~~639~~427.5395 0.00 0.00 0.00 ~~150~~146,~~639~~427.5395 90 Days 93 0 0 0 93 ~~310~~81,~~905~~164.3877 0.00 0.00 0.00 ~~310~~81,~~905~~164.3877 120 Days 24 0 0 0 24 91158,~~361~~904.7952 0.00 0.00 0.00 91158,~~361~~904.7952 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5254 0 0 0 5254 1,~~557~~739,~~619~~146.6808 0.00 0.00 0.00 1,~~557~~739,~~619~~146.6808 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~749144~~877001% 0.000000% 0.000000% 0.000000% 0.~~749144~~877001% 0.~~660888~~910783% 0.000000% 0.000000% 0.000000% 0.~~660888~~910783% 60 Days 0.~~128425~~153475% 0.000000% 0.000000% 0.000000% 0.~~128425~~153475% 0.~~099089~~098595% 0.000000% 0.000000% 0.000000% 0.~~099089~~098595% 90 Days 0.~~192637~~065775% 0.000000% 0.000000% 0.000000% 0.~~192637~~065775% 0.~~204510~~054651% 0.000000% 0.000000% 0.000000% 0.~~204510~~054651% 120 Days 0.~~042808~~087700% 0.000000% 0.000000% 0.000000% 0.~~042808~~087700% 0.~~060097~~106996% 0.000000% 0.000000% 0.000000% 0.~~060097~~106996% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~113014~~183951% 0.000000% 0.000000% 0.000000% 1.~~113014~~183951% 1.~~024583~~171025% 0.000000% 0.000000% 0.000000% 1.~~024583~~171025% 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 9894 0 0 0 9894 23,~~650~~110,~~149~~180.6551 0.00 0.00 0.00 23,~~650~~110,~~149~~180.6551 60 Days 1528 0 0 0 1528 ~~271~~766,~~482~~827.4304 0.00 0.00 0.00 ~~271~~766,~~482~~827.4304 90 Days 169 0 0 0 169 ~~574~~97,~~901~~949.0133 0.00 0.00 0.00 ~~574~~97,~~901~~949.0133 120 Days 2512 0 0 0 2512 1490,~~057,166~~886.9608 0.00 0.00 0.00 1490,~~057,166~~886.9608 150 Days 723 0 0 0 723 ~~195~~1,~~405~~022,439.7882 0.00 0.00 0.00 ~~195~~1,~~405~~022,439.7882 180 Days 1518 0 0 0 1518 ~~435~~507,~~447~~875.2868 0.00 0.00 0.00 ~~435~~507,~~447~~875.2868 Totals ~~176~~184 0 0 0 ~~176~~184 5,~~184~~996,~~553~~158.1146 0.00 0.00 0.00 5,~~184~~996,~~553~~158.1146 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~450992~~429440% 0.000000% 0.000000% 0.000000% 1.~~450992~~429440% 1.~~088099~~301353% 0.000000% 0.000000% 0.000000% 1.~~088099~~301353% 60 Days 0.~~222091~~425791% 0.000000% 0.000000% 0.000000% 0.~~222091~~425791% 0.~~111465~~320854% 0.000000% 0.000000% 0.000000% 0.~~111465~~320854% 90 Days 0.~~236897~~136861% 0.000000% 0.000000% 0.000000% 0.~~236897~~136861% 0.~~236043~~040984% 0.000000% 0.000000% 0.000000% 0.~~236043~~040984% 120 Days 0.~~370151~~182482% 0.000000% 0.000000% 0.000000% 0.~~370151~~182482% 0.~~434052~~205395% 0.000000% 0.000000% 0.000000% 0.~~434052~~205395% 150 Days 0.~~103642~~349757% 0.000000% 0.000000% 0.000000% 0.~~103642~~349757% 0.~~080230~~427806% 0.000000% 0.000000% 0.000000% 0.~~080230~~427806% 180 Days 0.~~222091~~273723% 0.000000% 0.000000% 0.000000% 0.~~222091~~273723% 0.~~178786~~212504% 0.000000% 0.000000% 0.000000% 0.~~178786~~212504% Totals 2.~~605863~~798054% 0.000000% 0.000000% 0.000000% 2.~~605863~~798054% 2.~~128674~~508896% 0.000000% 0.000000% 0.000000% 2.~~128674~~508896% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 ~~288~~307 0 0 0 ~~288~~307 79,~~058~~491,~~467~~522.1618 0.00 0.00 0.00 79,~~058~~491,~~467~~522.1618 60 Days 6778 0 0 0 6778 1,~~698~~784,~~883~~025.1455 0.00 0.00 0.00 1,~~698~~784,~~883~~025.1455 90 Days 5144 0 0 0 5144 1,~~250~~401,~~171~~533.5878 0.00 0.00 0.00 1,~~250~~401,~~171~~533.5878 120 Days 4241 0 0 0 4241 ~~767~~899,~~884~~182.1713 0.00 0.00 0.00 ~~767~~899,~~884~~182.1713 150 Days 2337 0 0 0 2337 ~~590~~654,~~625~~876.8278 0.00 0.00 0.00 ~~590~~654,~~625~~876.8278 180 Days 4357 0 0 0 4357 1,~~257~~536,~~937~~451.99 0.00 0.00 0.00 1,~~257~~536,~~937~~451.99 Totals ~~514~~564 0 0 0 ~~514~~564 1215,~~623~~767,~~969~~592.8641 0.00 0.00 0.00 1215,~~623~~767,~~969~~592.8641 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~667655~~876956% 0.000000% 0.000000% 0.000000% 2.~~667655~~876956% 23.~~393743~~271161% 0.000000% 0.000000% 0.000000% 23.~~393743~~271161% 60 Days 0.~~620600~~730953% 0.000000% 0.000000% 0.000000% 0.~~620600~~730953% 0.~~576143~~614847% 0.000000% 0.000000% 0.000000% 0.~~576143~~614847% 90 Days 0.~~472397~~412332% 0.000000% 0.000000% 0.000000% 0.~~472397~~412332% 0.~~423972~~483025% 0.000000% 0.000000% 0.000000% 0.~~423972~~483025% 120 Days 0.~~389033~~384219% 0.000000% 0.000000% 0.000000% 0.~~389033~~384219% 0.~~260413~~309894% 0.000000% 0.000000% 0.000000% 0.~~260413~~309894% 150 Days 0.~~213042~~346734% 0.000000% 0.000000% 0.000000% 0.~~213042~~346734% 0.~~200299~~225697% 0.000000% 0.000000% 0.000000% 0.~~200299~~225697% 180 Days 0.~~398296~~534158% 0.000000% 0.000000% 0.000000% 0.~~398296~~534158% 0.~~426605~~529523% 0.000000% 0.000000% 0.000000% 0.~~426605~~529523% Totals 45.~~761023~~285353% 0.000000% 0.000000% 0.000000% 45.~~761023~~285353% 45.~~281175~~434148% 0.000000% 0.000000% 0.000000% 45.~~281175~~434148%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7985,~~569~~878.1495

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 372,522.00 0.04739017% 372,522.00 0.~~05395318~~05497114% Fraud 23,582,230.00 2.99999971% 23,582,230.00 3.~~41546621~~47990716% Special Hazard 24,500,000.00 3.11675329% 24,500,000.00 3.~~54838885~~61533771% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 3.~~828785~~827902% Weighted Average Pass-Through Rate 3.~~579127~~578251% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 22,~~685~~222 Number Of Loans Paid In Full ~~463~~414 Ending Scheduled Collateral Loan Count 2221,~~222~~808 Beginning Scheduled Collateral Balance ~~703~~690,~~711~~454,~~730~~203.5582 Ending Scheduled Collateral Balance ~~690~~677,~~454~~668,~~203~~367.8211 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~690~~677,~~454~~668,~~203~~367.8211 Monthly P &I Constant 5,~~297~~195,~~457~~451.3098 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0874,497.0015 Cumulative Realized Loss 6881,~~925~~422.5469 Class A Non-PO Optimal Amount 1413,~~364~~069,~~027~~633.5095 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~690~~677,~~454~~668,~~203~~367.8211 Scheduled Principal 32,~~052~~995,~~156~~519.5714 Unscheduled Principal 109,~~205~~790,~~370~~317.1657

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 3.~~730171~~727900 3.~~770941~~771979 3.~~928046~~925650 Weighted Average Net Rate 3.~~480171~~477900 3.~~521221~~522264 3.~~678618~~676232 Weighted Average Maturity ~~317~~316 ~~312~~311 ~~314~~313 Beginning Loan Count 4,~~791~~672 6,~~946~~754 10,~~948~~796 Loans Paid In Full ~~119~~111 ~~192~~178 ~~152~~125 Ending Loan Count 4,~~672~~561 6,~~754~~576 10,~~796~~671 Beginning Scheduled Balance ~~155~~152,~~824~~024,~~023~~772.6006 ~~248~~243,~~351~~557,~~831~~849.8929 ~~299~~294,~~535~~871,~~875~~582.0647 Ending scheduled Balance ~~152~~148,~~024~~514,~~772~~883.0661 ~~243~~238,~~557~~995,~~849~~916.2954 ~~294~~290,~~871~~157,~~582~~566.4796 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 1,~~075~~100,~~848~~394.6476 1,~~896~~823,~~454~~030.0257 2,~~325~~272,~~154~~026.6465 Scheduled Principal ~~591~~629,~~473~~981.4407 1,~~116~~057,~~020~~451.6928 1,~~344~~308,~~662~~086.4479 Unscheduled Principal 32,~~207~~879,~~778~~907.1038 3,~~677~~504,~~961~~481.9147 3,~~319~~405,~~630~~928.1572 Scheduled Interest ~~484~~470,~~375~~413.2069 ~~780~~765,~~433~~579.3329 ~~980~~963,~~492~~939.2086 Servicing Fees 3231,~~463~~671.3185 5150,~~682~~683.0141 6261,~~260~~288.4364 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 ~~451~~438,~~911~~741.8984 ~~728~~714,~~751~~895.3288 ~~918~~902,~~231~~651.7722 Realized Loss Amount 0.00 037,080.0041 0837,416.0074 Cumulative Realized Loss 0.00 037,080.0041 6844,~~925~~342.5428 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 3.~~480171~~477900 3.~~521221~~522264 3.~~678618~~676232

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed Weighted Average Coupon Rate 3.~~828785~~827902 Weighted Average Net Rate 3.~~579127~~578251 Weighted Average Maturity 1 Beginning Loan Count 22,~~685~~222 Loans Paid In Full ~~463~~414 Ending Loan Count 2221,~~222~~808 Beginning Scheduled Balance ~~703~~690,~~711~~454,~~730~~203.5582 Ending scheduled Balance ~~690~~677,~~454~~668,~~203~~367.8211 Record Date 1011/3130/2002 Principal And Interest Constant 5,~~297~~195,~~457~~451.3098 Scheduled Principal 32,~~052~~995,~~156~~519.5714 Unscheduled Principal 109,~~205~~790,~~370~~317.1657 Scheduled Interest 2,~~245~~199,~~300~~932.7384 Servicing Fees ~~146~~143,~~405~~643.7590 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 2,~~098~~056,~~894~~288.9894 Realized Loss Amount 0874,497.0015 Cumulative Realized Loss 6881,~~925~~422.5469 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~579127~~578251

Filing Compare · STRUCTURED ASSET SEC CORP PASS THROUGH CERT SERIES 2002-AL1