8-K 1 ace02he2.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 ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certs., Series 2002-HE2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-45458-05 Pooling and Servicing Agreement) (Commission 56-2302997 (State or other File Number) 56-2302990 jurisdiction 56-2303002 of Incorporation) IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2002 a distribution was made to holders of ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certs., Series 2002-HE2 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 Pass- Through Certs., Series 2002-HE2 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. ACE SECURITIES CORP. HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Certs., Series 2002-HE2 Trust By: Wells Fargo Bank Minnesota, N.A. as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/7/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Pass-Through Certs., Series 2002-HE2 Trust, relating to the December 26, 2002 distribution. EX-99.1

ACE ~~Securities~~SECURITIES ~~Corporation~~CORP. ~~Mortgage~~HOME EQUITY LOAN TRUST Asset Backed Pass-Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 ACE Series: 2002-HE2 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 004421BC6 SEN 21.~~24000~~82000% ~~461~~454,~~100~~579,~~000~~015.0083 1712,~~319,770~~426.6734 6,~~520~~743,~~984~~908.1745 A-2A 004421AW3 SEN 21.~~23000~~81000% 5049,~~000~~250,~~000~~784.0068 ~~142~~76,~~472~~762.2282 ~~749~~1,~~215~~148,186.3205 A-2B 004421BD4 SEN 21.~~18000~~76000% 50,~~850~~088,~~000~~048.0002 ~~141~~75,~~645~~911.5022 ~~761~~1,~~951~~167,705.9821 A-IO 004421BB8 SEN 5.50000% 0.00 308,458.33 0.00 M-1 004421AX1 MEZ 2.~~65000~~23000% 38,698,000.00 ~~131~~74,~~035~~310.7391 0.00 M-2 004421AY9 MEZ 3.~~45000~~03000% 33,650,000.00 ~~148~~87,~~340~~798.4246 0.00 M-3 004421AZ6 MEZ 3.~~95000~~53000% 20,190,000.00 ~~101~~61,~~903~~371.4299 0.00 M-4 004421BA0 MEZ 43.~~40000~~98000% 11,784,000.00 6640,~~252~~386.2739 0.00 CE AC02HE2CE JUN 0.00000% 6,730,177.15 23,~~253~~117,~~005~~814.0882 0.00 P ACE02HE2P SEN 0.00000% 100.00 96222,~~317~~975.3160 0.00 Totals ~~673~~664,~~002~~970,~~277~~125.1568 4,~~709~~778,~~200~~216.9588 89,~~032~~059,~~151~~799.4771

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~454~~447,~~579~~835,~~015~~107.8338 7,~~840~~456,~~754~~334.8479 0.00 A-2A 0.00 4948,~~250~~102,~~784~~598.6863 ~~891~~1,~~687~~224,948.5487 0.00 A-2B 0.00 5048,~~088~~920,~~048~~342.0281 ~~903~~1,~~597~~243,616.4843 0.00 A-IO 0.00 0.00 308,458.33 0.00 M-1 0.00 38,698,000.00 ~~131~~74,~~035~~310.7391 0.00 M-2 0.00 33,650,000.00 ~~148~~87,~~340~~798.4246 0.00 M-3 0.00 20,190,000.00 ~~101~~61,~~903~~371.4299 0.00 M-4 0.00 11,784,000.00 6640,~~252~~386.2739 0.00 CE 0.00 6,730,177.15 23,~~253~~117,~~005~~814.0882 0.00 P 0.00 100.00 96222,~~317~~975.3160 0.00 Totals 0.00 ~~664~~655,~~970~~910,~~125~~325.6897 1213,~~741~~838,~~352~~016.4259 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-1 461,100,000.00 ~~461~~454,~~100~~579,~~000~~015.0083 0.00 6,~~520~~743,~~984~~908.1745 0.00 0.00 A-2A 50,000,000.00 5049,~~000~~250,~~000~~784.0068 0.00 ~~749~~1,~~215~~148,186.3205 0.00 0.00 A-2B 50,850,000.00 50,~~850~~088,~~000~~048.0002 0.00 ~~761~~1,~~951~~167,705.9821 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 38,698,000.00 38,698,000.00 0.00 0.00 0.00 0.00 M-2 33,650,000.00 33,650,000.00 0.00 0.00 0.00 0.00 M-3 20,190,000.00 20,190,000.00 0.00 0.00 0.00 0.00 M-4 11,784,000.00 11,784,000.00 0.00 0.00 0.00 0.00 CE 6,730,177.15 6,730,177.15 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 673,002,277.15 ~~673~~664,~~002~~970,~~277~~125.1568 0.00 89,~~032~~059,~~151~~799.4771 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 6,~~520~~743,~~984~~908.1745 ~~454~~447,~~579~~835,~~015~~107.8338 0.~~98585777~~97123207 6,~~520~~743,~~984~~908.1745 A-2A ~~749~~1,~~215~~148,186.3205 4948,~~250~~102,~~784~~598.6863 0.~~98501569~~96205197 ~~749~~1,~~215~~148,186.3205 A-2B ~~761~~1,~~951~~167,705.9821 5048,~~088~~920,~~048~~342.0281 0.~~98501569~~96205197 ~~761~~1,~~951~~167,705.9821 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 38,698,000.00 1.00000000 0.00 M-2 0.00 33,650,000.00 1.00000000 0.00 M-3 0.00 20,190,000.00 1.00000000 0.00 M-4 0.00 11,784,000.00 1.00000000 0.00 CE 0.00 6,730,177.15 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 89,~~032~~059,~~151~~799.4771 ~~664~~655,~~970~~910,~~125~~325.6897 0.~~98806519~~97460343 89,~~032~~059,~~151~~799.4771

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 461,100,000.00 ~~1000~~985.~~00000000~~85776584 0.00000000 14.~~14223416~~62569605 0.00000000 A-2A 50,000,000.00 ~~1000~~985.~~00000000~~01569360 0.00000000 1422.~~98430640~~96372100 0.00000000 A-2B 50,850,000.00 ~~1000~~985.~~00000000~~01569361 0.00000000 1422.~~98430639~~96372094 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 38,698,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 33,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 20,190,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 11,784,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 CE 6,730,177.15 1000.00000000 0.00000000 0.00000000 0.00000000 P 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 14.~~14223416~~62569605 ~~985~~971.~~85776584~~23206979 0.~~98585777~~97123207 14.~~14223416~~62569605 A-2A 0.00000000 1422.~~98430640~~96372100 ~~985~~962.~~01569360~~05197260 0.~~98501569~~96205197 1422.~~98430640~~96372100 A-2B 0.00000000 1422.~~98430639~~96372094 ~~985~~962.~~01569361~~05197266 0.~~98501569~~96205197 1422.~~98430639~~96372094 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 CE 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 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-1 461,100,000.00 21.~~24000~~82000% ~~461~~454,~~100~~579,~~000~~015.0083 1712,~~319,770~~426.6734 0.00 0.00 A-2A 50,000,000.00 21.~~23000~~81000% 5049,~~000~~250,~~000~~784.0068 ~~142~~76,~~472~~762.2282 0.00 0.00 A-2B 50,850,000.00 21.~~18000~~76000% 50,~~850~~088,~~000~~048.0002 ~~141~~75,~~645~~911.5022 0.00 0.00 A-IO 0.00 5.50000% 67,300,000.00 308,458.33 0.00 0.00 M-1 38,698,000.00 2.~~65000~~23000% 38,698,000.00 ~~131~~74,~~035~~310.7391 0.00 0.00 M-2 33,650,000.00 3.~~45000~~03000% 33,650,000.00 ~~148~~87,~~340~~798.4246 0.00 0.00 M-3 20,190,000.00 3.~~95000~~53000% 20,190,000.00 ~~101~~61,~~903~~371.4299 0.00 0.00 M-4 11,784,000.00 43.~~40000~~98000% 11,784,000.00 6640,~~252~~386.2739 0.00 0.00 CE 6,730,177.15 0.00000% 6,730,177.15 ~~2,253,005~~0.0800 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 673,002,277.15 41,~~612~~437,~~883~~426.6446 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 1712,~~319,770~~426.6734 0.00 ~~454~~447,~~579~~835,~~015~~107.8338 A-2A 0.00 0.00 ~~142~~76,~~472~~762.2282 0.00 4948,~~250~~102,~~784~~598.6863 A-2B 0.00 0.00 ~~141~~75,~~645~~911.5022 0.00 5048,~~088~~920,~~048~~342.0281 A-IO 0.00 0.00 308,458.33 0.00 67,300,000.00 M-1 0.00 0.00 ~~131~~74,~~035~~310.7391 0.00 38,698,000.00 M-2 0.00 0.00 ~~148~~87,~~340~~798.4246 0.00 33,650,000.00 M-3 0.00 0.00 ~~101~~61,~~903~~371.4299 0.00 20,190,000.00 M-4 0.00 0.00 6640,~~252~~386.2739 0.00 11,784,000.00 CE 0.00 0.00 23,~~253~~117,~~005~~814.0882 0.00 6,730,177.15 P 0.00 0.00 96222,~~317~~975.3160 0.00 100.00 Totals 0.00 0.00 4,~~709~~778,~~200~~216.9588 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-1 461,100,000.00 21.~~24000~~82000% ~~1000~~985.~~00000000~~85776584 21.~~86222223~~54505821 0.00000000 0.00000000 A-2A 50,000,000.00 21.~~23000~~81000% ~~1000~~985.~~00000000~~01569360 21.~~84944440~~53525640 0.00000000 0.00000000 A-2B 50,850,000.00 21.~~18000~~76000% ~~1000~~985.~~00000000~~01569361 21.~~78555556~~49284602 0.00000000 0.00000000 A-IO 0.00 5.50000% 1000.00000000 4.58333328 0.00000000 0.00000000 M-1 38,698,000.00 2.~~65000~~23000% 1000.00000000 31.~~38611117~~92027779 0.00000000 0.00000000 M-2 33,650,000.00 3.~~45000~~03000% 1000.00000000 42.~~40833343~~60916672 0.00000000 0.00000000 M-3 20,190,000.00 3.~~95000~~53000% 1000.00000000 53.~~04722239~~03972214 0.00000000 0.00000000 M-4 11,784,000.00 43.~~40000~~98000% 1000.00000000 53.~~62222251~~42722251 0.00000000 0.00000000 CE 6,730,177.15 0.00000% 1000.00000000 ~~334~~0.~~76163105~~00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 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 21.~~86222223~~54505821 0.00000000 ~~985~~971.~~85776584~~23206979 A-2A 0.00000000 0.00000000 21.~~84944440~~53525640 0.00000000 ~~985~~962.~~01569360~~05197260 A-2B 0.00000000 0.00000000 21.~~78555556~~49284602 0.00000000 ~~985~~962.~~01569361~~05197266 A-IO 0.00000000 0.00000000 4.58333328 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 31.~~38611117~~92027779 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 42.~~40833343~~60916672 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 53.~~04722239~~03972214 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 53.~~62222251~~42722251 0.00000000 1000.00000000 CE 0.00000000 0.00000000 ~~334~~463.~~76163105~~25895300 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~963173~~2229756.~~10000000~~00000000 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 1213,~~921~~861,~~645~~643.7522 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2053,~~370~~515.3367 Realized Losses 0.00 Prepayment Penalties 96222,~~317~~975.3160 Total Deposits 1314,~~038~~138,~~333~~134.3949 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~296~~300,~~980~~117.9790 Payment of Interest and Principal 1213,~~741~~838,~~352~~016.4259 Total Withdrawals (Pool Distribution Amount) 1314,~~038~~138,~~333~~134.3949 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0(6,689.0008) Servicing Fee Support 0(6,689.0008) Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee ~~280~~277,~~417~~070.5989 Credit Risk Manager Fee - Murrayhill 8,~~412~~312.5212 Master Servicing Fee - Wells Fargo 5,~~608~~541.3641 MBIA Fee - Class A-2A 2,~~542~~504.5040 Supported Prepayment/Curtailment Interest Shortfall 0(6,689.0008) Net Servicing Fee ~~296~~300,~~980~~117.9790

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 1534 0 0 0 1534 25,~~139~~075,~~318~~482.0329 0.00 0.00 0.00 25,~~139~~075,~~318~~482.0329 60 Days 28 0 0 0 28 ~~169~~1,~~680~~079,323.6174 0.00 0.00 0.00 ~~169~~1,~~680~~079,323.6174 90 Days 02 0 0 0 02 0169,680.0061 0.00 0.00 0.00 0169,680.0061 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 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 1744 0 0 0 1744 26,~~308~~324,~~998~~486.64 0.00 0.00 0.00 26,~~308~~324,~~998~~486.64 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 0.~~328084~~752212% 0.000000% 0.000000% 0.000000% 0.~~328084~~752212% 0.~~321551~~773356% 0.000000% 0.000000% 0.000000% 0.~~321551~~773356% 60 Days 0.~~043745~~176991% 0.000000% 0.000000% 0.000000% 0.~~043745~~176991% 0.~~025504~~164458% 0.000000% 0.000000% 0.000000% 0.~~025504~~164458% 90 Days 0.~~000000~~044248% 0.000000% 0.000000% 0.000000% 0.~~000000~~044248% 0.~~000000~~025854% 0.000000% 0.000000% 0.000000% 0.~~000000~~025854% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.~~371829~~973451% 0.000000% 0.000000% 0.000000% 0.~~371829~~973451% 0.~~347055~~963668% 0.000000% 0.000000% 0.000000% 0.~~347055~~963668%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1433 0 0 0 1433 14,~~705~~597,~~184~~982.1288 0.00 0.00 0.00 14,~~705~~597,~~184~~982.1288 60 Days 28 0 0 0 28 ~~169~~1,~~680~~079,323.6174 0.00 0.00 0.00 ~~169~~1,~~680~~079,323.6174 90 Days 02 0 0 0 02 0169,680.0061 0.00 0.00 0.00 0169,680.0061 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 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 1643 0 0 0 1643 15,~~874~~846,~~864~~987.7323 0.00 0.00 0.00 15,~~874~~846,~~864~~987.7323 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~329025~~784034% 0.000000% 0.000000% 0.000000% 0.~~329025~~784034% 0.~~312320~~852643% 0.000000% 0.000000% 0.000000% 0.~~312320~~852643% 60 Days 0.~~047004~~190069% 0.000000% 0.000000% 0.000000% 0.~~047004~~190069% 0.~~031079~~200148% 0.000000% 0.000000% 0.000000% 0.~~031079~~200148% 90 Days 0.~~000000~~047517% 0.000000% 0.000000% 0.000000% 0.~~000000~~047517% 0.~~000000~~031465% 0.000000% 0.000000% 0.000000% 0.~~000000~~031465% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 01.~~376028~~021620% 0.000000% 0.000000% 0.000000% 01.~~376028~~021620% 01.~~343399~~084256% 0.000000% 0.000000% 0.000000% 01.~~343399~~084256% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 1 0 0 0 1 ~~434~~477,~~133~~499.9141 0.00 0.00 0.00 ~~434~~477,~~133~~499.9141 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 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 1 0 0 0 1 ~~434~~477,~~133~~499.9141 0.00 0.00 0.00 ~~434~~477,~~133~~499.9141 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~315457~~321543% 0.000000% 0.000000% 0.000000% 0.~~315457~~321543% 0.~~363785~~408012% 0.000000% 0.000000% 0.000000% 0.~~363785~~408012% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.~~315457~~321543% 0.000000% 0.000000% 0.000000% 0.~~315457~~321543% 0.~~363785~~408012% 0.000000% 0.000000% 0.000000% 0.~~363785~~408012%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2053,~~370~~515.3367

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~754558~~749873% Weighted Average Net Coupon 8.~~254558~~249873% Weighted Average Pass-Through Rate 8.~~225024~~224873% Weighted Average Maturity(Stepdown Calculation ) ~~342~~341 Beginning Scheduled Collateral Loan Count 4,~~621~~572 Number Of Loans Paid In Full 4952 Ending Scheduled Collateral Loan Count 4,~~572~~520 Beginning Scheduled Collateral Balance ~~673~~664,~~002~~970,~~277~~125.1568 Ending Scheduled Collateral Balance ~~664~~655,~~970~~910,~~125~~325.6897 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~665~~656,~~311~~293,~~513~~321.6268 Monthly P &I Constant 5,~~462~~526,~~510~~791.4852 Special Servicing Fee 0.00 Prepayment Penalties 96222,~~317~~975.3160 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~664~~655,~~970~~910,~~125~~325.6897 Scheduled Principal ~~456~~455,~~328~~145.5481 Unscheduled Principal 78,~~575~~604,~~822~~653.9390

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~754558~~749873% Weighted Average Net Rate 8.~~254558~~249873% Weighted Average Pass Through Rate 8.~~225024~~224873% Weighted Average Maturity ~~342~~341 Record Date 1011/3130/2002 Principal and Interest Constant 5,~~462~~526,~~510~~791.4852 Beginning Loan Count 4,~~621~~572 Loans Paid in Full 4952 Ending Loan Count 4,~~572~~520 Beginning Scheduled Balance ~~673~~664,~~002~~970,~~277~~125.1568 Ending Scheduled Balance ~~664~~655,~~970~~910,~~125~~325.6897 Ending Actual Balance at 3130-~~Oct~~Nov-2002 ~~665~~656,~~311~~293,~~513~~321.6268 Scheduled Principal ~~456~~455,~~328~~145.5481 Unscheduled Principal 78,~~575~~604,~~822~~653.9390 Scheduled Interest 5,~~006~~071,~~181~~645.9471 Servicing Fee ~~280~~277,~~417~~070.5989 Master Servicing Fee 5,~~608~~541.3641 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 8,~~412~~312.5212 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 4,~~711~~780,~~743~~721.4729 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Special Servicing Fee 0.00 Prepayment Penalties 96222,~~317~~975.3160

Miscellaneous Reporting Required Overcollateralization Amount 6,730,177.15 Overcollateralization Increase Amount 0.00 Overcollateralization Reduction Amount 0.00 Credit Enhancement Percentage 16.~~7003~~931000%

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 8.~~902716~~899061 8.~~077201~~067321 8.~~754558~~749873 Weighted Average Net Rate 8.~~402716~~399062 7.~~577201~~567321 8.~~254558~~249873 Weighted Average Maturity ~~342~~ 341 ~~342~~340 341 Beginning Loan Count 4,~~300~~255 ~~321~~317 4,~~621~~572 Loans Paid In Full 4546 46 4952 Ending Loan Count 4,~~255~~209 ~~317~~311 4,~~572~~520 Beginning Scheduled Balance ~~552~~545,~~216~~695,~~244~~259.0076 ~~120~~119,~~786~~274,~~033~~865.0092 ~~673~~664,~~002~~970,~~277~~125.0068 Ending scheduled Balance ~~545~~538,~~695~~951,~~259~~351.7631 ~~119~~116,~~274~~958,~~865~~974.9266 ~~664~~655,~~970~~910,~~125~~325.6897 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 4,~~534~~584,~~679~~350.2960 ~~927~~942,~~831~~440.1992 5,~~462~~526,~~510~~791.4852 Scheduled Principal ~~369~~368,~~341~~443.8443 86,~~986~~702.7038 ~~456~~455,~~328~~145.5481 Unscheduled Principal 6,~~151~~375,~~642~~465.3302 12,~~424~~229,~~180~~188.6088 78,~~575~~604,~~822~~653.9390 Scheduled Interest 4,~~165~~215,~~337~~907.4517 ~~840~~855,~~844~~738.4954 5,~~006~~071,~~181~~645.9471 Servicing Fees ~~230~~227,~~090~~373.0802 5049,~~327~~697.5187 ~~280~~277,~~417~~070.5989 Master Servicing Fees 4,~~601~~547.8046 ~~1,006~~993.5695 5,~~608~~541.3641 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 6,~~902~~821.7018 1,~~509~~490.8294 8,~~412~~312.5212 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 3,~~923~~977,~~742~~165.8751 ~~788~~803,~~000~~555.6078 4,~~711~~780,~~743~~721.4729 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.~~377715~~374061 7.~~526941~~542321 8.~~225024~~224873

Filing Compare · ACE SECURITIES CORP HOME EQUITY LOAN TRUST SERIES 2002-HE2