8-K 1 bsa02ac1.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 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 December 26, 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 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. 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: 1/7/03 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 December 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 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% ~~224~~214,~~830~~756,~~793~~891.3613 1,~~497~~421,~~213~~154.1140 10,~~073~~475,~~902~~309.2212 II-A 07384YBX3 SEN 8.00000% ~~138~~127,~~534~~698,~~219~~130.9789 ~~922~~845,~~539~~042.3378 1015,~~836~~105,~~089~~188.0853 X-1 07384YCA2 SEN 0.~~30865~~30130% 0.00 6661,~~543~~963.0982 0.00 R-1 07384YCG9 RES 8.00000% 0.00 0.00 0.00 X-2 07384YCB0 SEN 0.~~18859~~18444% 0.00 2523,~~893~~460.2911 0.00 R-2 07384YCH7 RES 8.00000% 0.00 0.00 0.00 X-3 07384YCC8 SEN 1.00000% 0.00 40,~~303~~021.6450 0.00 PO-1 07384YBY1 PO 0.00000% 65,~~126~~847,~~936~~620.4842 0.00 ~~279~~324,~~316~~624.0632 PO-2 07384YBZ8 PO 0.00000% 65,~~029~~709,~~674~~564.3570 0.00 ~~320~~658,~~109~~217.6529 B-1 07384YCD6 SUB 7.00000% 19,~~366~~352,~~976~~836.5597 112,~~849~~059.0003 14,~~139~~265.5928 B-2 07384YCE4 SUB 7.00000% 9,~~683~~676,~~587~~517.6679 56,~~425~~030.0708 7,~~069~~132.8771 B-3 07384YCF1 SUB 7.00000% 8,~~300~~294,~~232~~172.1929 48,~~364~~025.4387 6,~~059~~113.9077 B-4 07384YCJ3 SUB 7.00000% 3,~~873~~870,~~395~~567.3139 22,~~569~~411.8081 2,~~827~~853.9206 B-5 07384YCL8 SUB 7.00000% 2,~~213~~211,~~368~~752.7580 12,~~897~~806.0374 1,~~615~~630.9532 B-6 07384YCN4 SUB 7.00000% 4,~~980~~976,~~381~~745.6554 2928,~~020~~816.0893 3,~~636~~668.1144 XP BSA2AC1XP SEN 0.00000% 100.00 93,~~260~~471.3943 0.00 Totals ~~423~~402,~~939~~394,~~666~~899.2792 2,~~843~~675,~~878~~264.2650 2126,~~544~~599,~~766~~002.3584

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~214~~204,~~756~~281,~~891~~582.1302 11,~~571~~896,~~115~~463.3352 0.00 II-A 0.00 ~~127~~112,~~698~~592,~~130~~942.8936 1115,~~758~~950,~~628~~231.4131 0.00 X-1 0.00 0.00 6661,~~543~~963.0982 0.00 R-1 0.00 0.00 0.00 0.00 X-2 0.00 0.00 2523,~~893~~460.2911 0.00 R-2 0.00 0.00 0.00 0.00 X-3 0.00 0.00 40,~~303~~021.6450 0.00 PO-1 0.00 5,~~847~~522,~~620~~996.4210 ~~279~~324,~~316~~624.0632 0.00 PO-2 0.00 5,~~709~~051,~~564~~347.7041 ~~320~~658,~~109~~217.6529 0.00 B-1 0.00 19,~~352~~338,~~836~~571.9769 126,~~988~~324.5931 0.00 B-2 0.00 9,~~676~~669,~~517~~385.7908 63,~~494~~162.9479 0.00 B-3 0.00 8,~~294~~288,~~172~~058.2953 54,~~424~~139.3364 0.00 B-4 0.00 3,~~870~~867,~~567~~714.3934 25,~~397~~264.7287 0.00 B-5 0.00 2,~~211~~210,~~752~~122.8048 14,~~512~~437.9806 0.00 B-6 0.00 4,~~976~~973,~~745~~077.5410 32,~~656~~485.1937 14.10 XP 0.00 100.00 93,~~260~~471.3943 0.00 Totals 0.00 ~~402~~375,~~394~~795,~~899~~897.9211 2429,~~388~~274,~~644~~267.6134 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 ~~224~~214,~~830~~756,~~793~~891.3613 ~~162~~156,~~300~~314.1611 910,~~911~~318,~~602~~995.0601 0.00 0.00 II-A 206,224,000.00 ~~138~~127,~~534~~698,~~219~~130.9789 ~~102~~95,~~707~~753.0763 1015,~~733~~009,~~382~~434.0189 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 65,~~126~~847,~~936~~620.4842 5,~~729~~561.0134 ~~273~~319,~~587~~062.0598 0.00 0.00 PO-2 7,643,009.00 65,~~029~~709,~~674~~564.3570 54,~~164~~917.1743 ~~314~~653,~~945~~299.4886 0.00 0.00 B-1 19,488,000.00 19,~~366~~352,~~976~~836.5597 14,~~139~~265.5928 0.00 0.00 0.00 B-2 9,744,100.00 9,~~683~~676,~~587~~517.6679 7,~~069~~132.8771 0.00 0.00 0.00 B-3 8,352,100.00 8,~~300~~294,~~232~~172.1929 6,~~059~~113.9077 0.00 0.00 0.00 B-4 3,897,600.00 3,~~873~~870,~~395~~567.3139 2,~~827~~853.9206 0.00 0.00 0.00 B-5 2,227,200.00 2,~~213~~211,~~368~~752.7580 1,~~615~~630.9532 0.00 0.00 0.00 B-6 5,011,522.00 4,~~980~~976,~~381~~745.6554 3,~~636~~668.1144 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 Totals 556,806,459.00 ~~423~~402,~~939~~394,~~666~~899.2792 ~~311~~298,~~249~~210.7509 2126,~~233~~300,~~516~~792.6074 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 10,~~073~~475,~~902~~309.2212 ~~214~~204,~~756~~281,~~891~~582.1302 0.~~74790399~~71142309 10,~~073~~475,~~902~~309.2212 II-A 1015,~~836~~105,~~089~~188.0853 ~~127~~112,~~698~~592,~~130~~942.8936 0.~~61922051~~54597400 1015,~~836~~105,~~089~~188.0853 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 ~~279~~324,~~316~~624.0632 5,~~847~~522,~~620~~996.4210 0.~~82666741~~78077587 ~~279~~324,~~316~~624.0632 PO-2 ~~320~~658,~~109~~217.6529 5,~~709~~051,~~564~~347.7041 0.~~74703101~~66091083 ~~320~~658,~~109~~217.6529 B-1 14,~~139~~265.5928 19,~~352~~338,~~836~~571.9769 0.~~99306429~~99233229 14,~~139~~265.5928 B-2 7,~~069~~132.8771 9,~~676~~669,~~517~~385.7908 0.~~99306429~~99233229 7,~~069~~132.8771 B-3 6,~~059~~113.9077 8,~~294~~288,~~172~~058.2953 0.~~99306429~~99233229 6,~~059~~113.9077 B-4 2,~~827~~853.9206 3,~~870~~867,~~567~~714.3934 0.~~99306429~~99233229 2,~~827~~853.9206 B-5 1,~~615~~630.9532 2,~~211~~210,~~752~~122.8048 0.~~99306430~~99233229 1,~~615~~630.9532 B-6 3,~~636~~668.1144 4,~~976~~973,~~745~~077.5410 0.~~99306070~~99232870 3,~~636~~668.1144 XP 0.00 100.00 1.00000000 0.00 Totals 2126,~~544~~599,~~766~~002.3584 ~~402~~375,~~394~~795,~~899~~897.9211 0.~~72268361~~67491296 2126,~~544~~599,~~766~~002.3584

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 ~~782~~747.~~98696951~~90398973 0.~~56522022~~54437344 3435.~~51775953~~93653036 0.00000000 II-A 206,224,000.00 ~~671~~619.~~76574972~~22051211 0.~~49803646~~46431856 5272.~~04720115~~78219262 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 ~~866~~826.~~15381310~~66741215 0.~~80989967~~78619647 3845.~~67650127~~10535039 0.00000000 PO-2 7,643,009.00 ~~788~~747.~~91367915~~03100572 0.~~67567237~~64338927 4185.~~20700106~~47678800 0.00000000 B-1 19,488,000.00 993.~~78984760~~06429444 0.~~72555367~~73200328 0.00000000 0.00000000 B-2 9,744,100.00 993.~~78984822~~06429429 0.~~72555392~~73200296 0.00000000 0.00000000 B-3 8,352,100.00 993.~~78984806~~06429401 0.~~72555405~~73200393 0.00000000 0.00000000 B-4 3,897,600.00 993.~~78984760~~06429341 0.~~72555419~~73200431 0.00000000 0.00000000 B-5 2,227,200.00 993.~~78984824~~06429598 0.~~72555226~~73200431 0.00000000 0.00000000 B-6 5,011,522.00 993.~~78624897~~06069893 0.~~72555004~~73200118 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 3536.~~08297975~~48090379 ~~747~~711.~~90398973~~42308597 0.~~74790399~~71142309 3536.~~08297975~~48090379 II-A 0.00000000 5273.~~54523761~~24651122 ~~619~~545.~~22051211~~97400089 0.~~61922051~~54597400 5273.~~54523761~~24651122 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 3945.~~48640095~~89154686 ~~826~~780.~~66741215~~77586529 0.~~82666741~~78077587 3945.~~48640095~~89154686 PO-2 0.00000000 4186.~~88267343~~12017728 ~~747~~660.~~03100572~~91082844 0.~~74703101~~66091083 4186.~~88267343~~12017728 B-1 0.00000000 0.~~72555367~~73200328 ~~993~~992.~~06429444~~33229115 0.~~99306429~~99233229 0.~~72555367~~73200328 B-2 0.00000000 0.~~72555392~~73200296 ~~993~~992.~~06429429~~33229134 0.~~99306429~~99233229 0.~~72555392~~73200296 B-3 0.00000000 0.~~72555405~~73200393 ~~993~~992.~~06429401~~33229128 0.~~99306429~~99233229 0.~~72555405~~73200393 B-4 0.00000000 0.~~72555419~~73200431 ~~993~~992.~~06429341~~33229167 0.~~99306429~~99233229 0.~~72555419~~73200431 B-5 0.00000000 0.~~72555226~~73200431 ~~993~~992.~~06429598~~33229167 0.~~99306430~~99233229 0.~~72555226~~73200431 B-6 0.00000000 0.~~72555004~~73200118 ~~993~~992.~~06069893~~32869775 0.~~99306070~~99232870 0.~~72555004~~73200118 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% ~~224~~214,~~830~~756,~~793~~891.3613 1,~~498~~431,~~871~~712.9661 0.00 0.00 II-A 206,224,000.00 8.00000% ~~138~~127,~~534~~698,~~219~~130.9789 ~~923~~851,~~561~~320.4787 0.00 0.00 X-1 0.00 0.~~30865~~30130% ~~258~~248,~~996~~622,~~259~~800.1247 6662,~~616~~424.8217 0.00 0.00 X-2 0.00 0.~~18859~~18444% ~~164~~153,~~943~~772,~~407~~099.1545 2523,~~921~~634.9840 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,~~417~~382,~~942~~592.1178 40,~~348~~318.2983 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% 65,~~126~~847,~~936~~620.4842 0.00 0.00 0.00 PO-2 7,643,009.00 0.00000% 65,~~029~~709,~~674~~564.3570 0.00 0.00 0.00 B-1 19,488,000.00 7.00000% 19,~~366~~352,~~976~~836.5597 112,~~974~~891.0355 0.00 0.00 B-2 9,744,100.00 7.00000% 9,~~683~~676,~~587~~517.6679 56,~~487~~446.5935 0.00 0.00 B-3 8,352,100.00 7.00000% 8,~~300~~294,~~232~~172.1929 48,~~418~~382.0267 0.00 0.00 B-4 3,897,600.00 7.00000% 3,~~873~~870,~~395~~567.3139 22,~~594~~578.8131 0.00 0.00 B-5 2,227,200.00 7.00000% 2,~~213~~211,~~368~~752.7580 12,~~911~~901.3289 0.00 0.00 B-6 5,011,522.00 7.00000% 4,~~980~~976,~~381~~745.6554 29,~~052~~031.2302 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 556,806,459.00 2,~~837~~691,~~758~~642.5267 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 110,~~658~~558.8521 0.00 1,~~497~~421,~~213~~154.1140 0.00 ~~214~~204,~~756~~281,~~891~~582.1302 II-A 16,~~022~~278.1409 0.00 ~~922~~845,~~539~~042.3378 0.00 ~~127~~112,~~698~~592,~~130~~942.8936 X-1 73460.7335 0.00 6661,~~543~~963.0982 0.00 ~~248~~237,~~622~~802,~~800~~473.4749 X-2 28174.6929 0.00 2523,~~893~~460.2911 0.00 ~~153~~137,~~772~~993,~~099~~423.4560 R-1 0.00 0.00 0.00 0.00 0.00 X-3 44297.6533 0.00 40,~~303~~021.6450 0.00 48,~~382~~346,~~592~~929.7820 R-2 0.00 0.00 0.00 0.00 0.00 PO-1 0.00 0.00 0.00 0.00 5,~~847~~522,~~620~~996.4210 PO-2 0.00 0.00 0.00 0.00 5,~~709~~051,~~564~~347.7041 B-1 ~~125~~832.0352 0.00 112,~~849~~059.0003 0.00 19,~~352~~338,~~836~~571.9769 B-2 62416.5227 0.00 56,~~425~~030.0708 0.00 9,~~676~~669,~~517~~385.7908 B-3 53356.5980 0.00 48,~~364~~025.4387 0.00 8,~~294~~288,~~172~~058.2953 B-4 25166.0150 0.00 22,~~569~~411.8081 0.00 3,~~870~~867,~~567~~714.3934 B-5 1495.2915 0.00 12,~~897~~806.0374 0.00 2,~~211~~210,~~752~~122.8048 B-6 32214.1509 0.00 2928,~~020~~816.0893 0.00 4,~~976~~973,~~745~~077.5410 XP 0.00 0.00 93,~~260~~471.3943 0.00 100.00 Totals 319,~~140~~849.6560 0.00 2,~~843~~675,~~878~~264.2650 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% ~~782~~747.~~98696951~~90398973 54.~~21991314~~98602661 0.00000000 0.00000000 II-A 206,224,000.00 8.00000% ~~671~~619.~~76574972~~22051211 4.~~47843835~~12813673 0.00000000 0.00000000 X-1 0.00 0.~~30865~~30130% ~~803~~771.~~25997491~~08737071 0.~~20660771~~19360448 0.00000000 0.00000000 X-2 0.00 0.~~18859~~18444% ~~703~~656.~~75843709~~09419768 0.~~11060043~~10084009 0.00000000 0.00000000 R-1 50.00 8.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.00 1.00000% 993.~~78947767~~06392448 0.~~82815800~~82755333 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% ~~866~~826.~~15381310~~66741215 0.00000000 0.00000000 0.00000000 PO-2 7,643,009.00 0.00000% ~~788~~747.~~91367915~~03100572 0.00000000 0.00000000 0.00000000 B-1 19,488,000.00 7.00000% 993.~~78984760~~06429444 5.~~79710745~~79287510 0.00000000 0.00000000 B-2 9,744,100.00 7.00000% 993.~~78984822~~06429429 5.~~79710697~~79287466 0.00000000 0.00000000 B-3 8,352,100.00 7.00000% 993.~~78984806~~06429401 5.~~79710731~~79287485 0.00000000 0.00000000 B-4 3,897,600.00 7.00000% 993.~~78984760~~06429341 5.~~79710848~~79287510 0.00000000 0.00000000 B-5 2,227,200.00 7.00000% 993.~~78984824~~06429598 5.~~79710848~~79287446 0.00000000 0.00000000 B-6 5,011,522.00 7.00000% 993.~~78624897~~06069893 5.~~79708719~~79285495 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.~~00577705~~03676961 0.00000000 54.~~21413610~~94925700 0.00000000 ~~747~~711.~~90398973~~42308597 II-A 0.~~00495646~~03044306 0.00000000 4.~~47348189~~09769367 0.00000000 ~~619~~545.~~22051211~~97400089 X-1 0.~~00022867~~00142775 0.00000000 0.~~20637905~~19217674 0.00000000 ~~771~~737.~~08737071~~52883358 X-2 0.~~00012241~~00074364 0.00000000 0.~~11047802~~10009646 0.00000000 ~~656~~588.~~09419768~~77185697 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-3 0.~~00091645~~00610277 0.00000000 0.~~82724155~~82145056 0.00000000 ~~993~~992.~~06392448~~33192124 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 0.00000000 0.00000000 0.00000000 0.00000000 ~~826~~780.~~66741215~~77586529 PO-2 0.00000000 0.00000000 0.00000000 0.00000000 ~~747~~660.~~03100572~~91082844 B-1 0.~~00641574~~04271962 0.00000000 5.~~79069171~~75015548 0.00000000 ~~993~~992.~~06429444~~33229115 B-2 0.~~00641619~~04272021 0.00000000 5.~~79069078~~75015445 0.00000000 ~~993~~992.~~06429429~~33229134 B-3 0.~~00641635~~04271980 0.00000000 5.~~79069096~~75015505 0.00000000 ~~993~~992.~~06429401~~33229128 B-4 0.~~00641677~~04271860 0.00000000 5.~~79069171~~75015651 0.00000000 ~~993~~992.~~06429341~~33229167 B-5 0.~~00641613~~04272180 0.00000000 5.~~79069235~~75015266 0.00000000 ~~993~~992.~~06429598~~33229167 B-6 0.~~00641522~~04271956 0.00000000 5.~~79067198~~75013539 0.00000000 ~~993~~992.~~06069893~~32869775 XP 0.00000000 0.00000000 ~~92603~~34714.~~90000000~~30000000 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 2429,~~294~~204,~~279~~991.6263 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~160~~178,~~996~~398.3052 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 2429,~~455~~383,~~275~~390.9215 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 66109,~~631~~122.3181 Payment of Interest and Principal 2429,~~388~~274,~~644~~267.6134 Total Withdrawals (Pool Distribution Amount) 2429,~~455~~383,~~275~~390.9215 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 5119,~~548~~849.5160 Servicing Fee Support ~~48,407~~0.8600 Non-Supported Prepayment/Curtailment Interest Shortfall 319,~~140~~849.6560

SERVICING FEES Gross Servicing Fee ~~107~~102,~~973~~416.5826 Master Servicing Fee 76,~~065~~706.5955 Supported Prepayment/Curtailment Interest Shortfall ~~48,407~~0.8600 Net Servicing Fee 66109,~~631~~122.3181

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 39 0 0 0 39 7,~~452~~136,~~328~~234.4157 0.00 0.00 0.00 7,~~452~~136,~~328~~234.4157 60 Days 1623 0 0 0 1623 34,~~449~~846,~~060~~292.8783 0.00 0.00 0.00 34,~~449~~846,~~060~~292.8783 90 Days 1314 0 0 0 1314 2,~~803~~310,~~885~~795.2931 0.00 0.00 0.00 2,~~803~~310,~~885~~795.2931 120 Days 712 0 10 0 812 12,~~420~~044,~~664~~169.7276 0.00 ~~241,481~~0.7600 0.00 12,~~662~~044,~~146~~169.4876 150 Days 87 0 01 0 8 1,~~355~~420,~~580~~664.5672 0.00 0241,481.0076 0.00 1,~~355~~662,~~580~~146.5648 180+ Days 1420 0 53 01 1924 34,~~101~~127,~~265~~612.2739 0.00 1792,~~283,396~~089.7612 0365,299.00 45,~~384~~285,~~662~~000.0351 Totals 97115 0 64 01 ~~103~~120 1921,~~582~~885,~~785~~769.1258 0.00 1,~~524~~033,~~878~~570.5288 0365,299.00 2123,~~107~~284,~~663~~639.6446 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.~~902439~~997951% 0.000000% 0.000000% 0.000000% 1.~~902439~~997951% 1.~~850558~~897354% 0.000000% 0.000000% 0.000000% 1.~~850558~~897354% 60 Days 01.~~780488~~178279% 0.000000% 0.000000% 0.000000% 01.~~780488~~178279% 01.~~856469~~288513% 0.000000% 0.000000% 0.000000% 01.~~856469~~288513% 90 Days 0.~~634146~~717213% 0.000000% 0.000000% 0.000000% 0.~~634146~~717213% 0.~~696259~~614385% 0.000000% 0.000000% 0.000000% 0.~~696259~~614385% 120 Days 0.~~341463~~614754% 0.000000% 0.~~048780~~000000% 0.000000% 0.~~390244~~614754% 0.~~352779~~543496% 0.000000% 0.~~059965~~000000% 0.000000% 0.~~412743~~543496% 150 Days 0.~~390244~~358607% 0.000000% 0.~~000000~~051230% 0.000000% 0.~~390244~~409836% 0.~~336617~~377721% 0.000000% 0.~~000000~~064204% 0.000000% 0.~~336617~~441925% 180+ Days 01.~~682927~~024590% 0.000000% 0.~~243902~~153689% 0.~~000000~~051230% 01.~~926829~~229508% 01.~~770104~~097433% 0.000000% 0.~~318692~~210598% 0.~~000000~~097124% 1.~~088797~~405155% Totals 45.~~731707~~891393% 0.000000% 0.~~292683~~204918% 0.~~000000~~051230% 56.~~024390~~147541% 45.~~862786~~818901% 0.000000% 0.~~378657~~274802% 0.~~000000~~097124% 56.~~241443~~190827%

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 33 0 0 0 33 54,~~063~~815,~~126~~329.3415 0.00 0.00 0.00 54,~~063~~815,~~126~~329.3415 60 Days 1216 0 0 0 1216 12,~~688~~318,~~988~~270.6237 0.00 0.00 0.00 12,~~688~~318,~~988~~270.6237 90 Days 1113 0 0 0 1113 1,~~741~~746,~~665~~314.4051 0.00 0.00 0.00 1,~~741~~746,~~665~~314.4051 120 Days 511 0 10 0 611 ~~744~~1,~~047~~546,798.5911 0.00 ~~241,481~~0.7600 0.00 ~~985~~1,~~529~~546,798.3511 150 Days 85 0 01 0 86 1744,~~355,580~~047.5659 0.00 0241,481.0076 0.00 1985,~~355,580~~529.5635 180 Days 1218 0 32 0 1520 12,~~953~~980,~~943~~290.7082 0.00 ~~425~~299,~~231~~222.0238 0.00 23,~~379~~279,~~174~~513.7220 Totals 8196 0 43 0 8599 1214,~~547~~151,~~352~~050.2155 0.00 ~~666~~540,~~712~~704.7814 0.00 1314,~~214~~691,~~064~~754.9969 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~970149~~044610% 0.000000% 0.000000% 0.000000% 12.~~970149~~044610% 2.~~034917~~023261% 0.000000% 0.000000% 0.000000% 2.~~034917~~023261% 60 Days 0.~~716418~~991326% 0.000000% 0.000000% 0.000000% 0.~~716418~~991326% 0.~~678820~~974070% 0.000000% 0.000000% 0.000000% 0.~~678820~~974070% 90 Days 0.~~656716~~805452% 0.000000% 0.000000% 0.000000% 0.~~656716~~805452% 0.~~699991~~733750% 0.000000% 0.000000% 0.000000% 0.~~699991~~733750% 120 Days 0.~~298507~~681537% 0.000000% 0.~~059701~~000000% 0.000000% 0.~~358209~~681537% 0.~~299040~~649919% 0.000000% 0.~~097054~~000000% 0.000000% 0.~~396093~~649919% 150 Days 0.~~477612~~309789% 0.000000% 0.~~000000~~061958% 0.000000% 0.~~477612~~371747% 0.~~544820~~312627% 0.000000% 0.~~000000~~101464% 0.000000% 0.~~544820~~414091% 180 Days 01.~~716418~~115242% 0.000000% 0.~~179104~~123916% 0.000000% 01.~~895522~~239157% 01.~~785308~~252231% 0.000000% 0.~~170904~~125725% 0.000000% 01.~~956212~~377956% Totals 45.~~835821~~947955% 0.000000% 0.~~238806~~185874% 0.000000% 56.~~074627~~133829% 5.~~042897~~945859% 0.000000% 0.~~267958~~227188% 0.000000% 56.~~310855~~173047% 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 6 0 0 0 6 2,~~389~~320,~~202~~905.0742 0.00 0.00 0.00 2,~~389~~320,~~202~~905.0742 60 Days 47 0 0 0 47 12,~~760~~528,~~072~~022.2546 0.00 0.00 0.00 12,~~760~~528,~~072~~022.2546 90 Days 21 0 0 0 2 1 564,~~062,219~~480.8980 0.00 0.00 0.00 1564,~~062,219~~480.8980 120 Days 21 0 0 0 21 ~~676~~497,~~617~~371.1365 0.00 0.00 0.00 ~~676~~497,~~617~~371.1365 150 Days 02 0 0 0 02 0676,617.0013 0.00 0.00 0.00 0676,617.0013 180 Days 2 0 21 01 4 1,147,321.57 0.00 ~~858~~492,~~165~~866.74 0365,299.00 2,005,487.31 Totals 1619 0 21 01 1821 7,~~035~~734,~~432~~719.9103 0.00 ~~858~~492,~~165~~866.74 0365,299.00 78,~~893~~592,~~598~~884.6577 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~600000~~775148% 0.000000% 0.000000% 0.000000% 1.~~600000~~775148% 1.~~552491~~680394% 0.000000% 0.000000% 0.000000% 1.~~552491~~680394% 60 Days 12.~~066667~~071006% 0.000000% 0.000000% 0.000000% 12.~~066667~~071006% 1.~~143686~~830352% 0.000000% 0.000000% 0.000000% 1.~~143686~~830352% 90 Days 0.~~533333~~295858% 0.000000% 0.000000% 0.000000% 0.~~533333~~295858% 0.~~690225~~408698% 0.000000% 0.000000% 0.000000% 0.~~690225~~408698% 120 Days 0.~~533333~~295858% 0.000000% 0.000000% 0.000000% 0.~~533333~~295858% 0.~~439662~~360110% 0.000000% 0.000000% 0.000000% 0.~~439662~~360110% 150 Days 0.~~000000~~591716% 0.000000% 0.000000% 0.000000% 0.~~000000~~591716% 0.~~000000~~489888% 0.000000% 0.000000% 0.000000% 0.~~000000~~489888% 180 Days 0.~~533333~~591716% 0.000000% 0.~~533333~~295858% 0.~~000000~~295858% 1.~~066667~~183432% 0.~~745524~~830690% 0.000000% 0.~~557632~~356848% 0.~~000000~~264486% 1.~~303155~~452024% Totals 45.~~266667~~621302% 0.000000% 0.~~533333~~295858% 0.~~000000~~295858% 46.~~800000~~213018% 45.~~571588~~600133% 0.000000% 0.~~557632~~356848% 0.~~000000~~264486% 56.~~129219~~221467%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~160~~178,~~996~~398.3052

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~442726~~439586% Weighted Average Pass-Through Rate 8.~~032537~~030019% Weighted Average Maturity(Stepdown Calculation ) ~~333~~332 Beginning Scheduled Collateral Loan Count 2,~~136~~050 Number Of Loans Paid In Full 8698 Ending Scheduled Collateral Loan Count 21,~~050~~952 Beginning Scheduled Collateral Balance ~~423~~402,~~939~~394,~~666~~899.2792 Ending Scheduled Collateral Balance ~~402~~375,~~394~~795,~~899~~897.9209 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~402~~376,~~707~~115,~~130~~141.7674 Monthly P &I Constant 3,~~293~~128,~~921~~248.6989 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2327,~~465~~989,~~311~~908.8252 Class AP Deferred Amount 0.00 Scheduled Principal ~~311~~298,~~249~~210.7509 Unscheduled Principal 2126,~~233~~300,~~516~~792.6074

Miscellaneous Reporting Senior Percentage Group I 88.~~911850~~459163% Subordinate Percentage Group I 11.~~088150~~540837% Senior Prep. Percentage Group I 100.000000% Subordinate Prep. Percentage Group I 0.000000% Senior Percentage Group II 8786.~~175801~~246147% Subordinate Percentage Group II 1213.~~824199~~753853% Senior Prep. Percentage Group II 100.000000% Subordinate Prep. Percentage Group II 0.000000% Three Months Rolling Average 3.~~301914~~729768% Prepayment Charge Payment Amount 93,~~260~~471.3943

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.~~523113~~517659 8.~~316500~~313357 8.~~442726~~439586 Weighted Average Net Rate 8.~~250272~~245748 7.~~959388~~953759 8.~~137097~~134166 Weighted Average Maturity ~~321~~320 ~~333~~332 ~~333~~332 Beginning Loan Count 1,~~734~~675 ~~402~~375 2,~~136~~050 Loans Paid In Full 5961 2737 8698 Ending Loan Count 1,~~675~~614 ~~375~~338 21,~~050~~952 Beginning Scheduled Balance ~~258~~248,~~996~~622,~~259~~800.1247 ~~164~~153,~~943~~772,~~407~~099.1545 ~~423~~402,~~939~~394,~~666~~899.2792 Ending scheduled Balance ~~248~~237,~~622~~802,~~800~~473.4749 ~~153~~137,~~772~~993,~~099~~423.4560 ~~402~~375,~~394~~795,~~899~~897.9209 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 21,~~027~~947,~~814~~005.88 1,~~266~~181,~~106~~243.8101 3,~~293~~128,~~921~~248.6989 Scheduled Principal ~~188~~182,~~269~~268.5499 ~~122~~115,~~980~~941.2110 ~~311~~298,~~249~~210.7509 Unscheduled Principal 10,~~185~~638,~~189~~057.1199 1115,~~048~~662,~~327~~734.4975 2126,~~233~~300,~~516~~792.6074 Scheduled Interest 1,~~839~~764,~~545~~736.3489 1,~~143~~065,~~126~~301.6091 2,~~982~~830,~~671~~038.9480 Servicing Fees 5856,~~887~~336.4115 4946,~~086~~080.1711 ~~107~~102,~~973~~416.5826 Master Servicing Fees 4,~~316~~143.6169 2,~~748~~562.9886 76,~~065~~706.5955 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 2322,~~929~~275.1090 5,~~944~~941.4519 2928,~~873~~217.5509 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,~~752~~681,~~412~~981.2215 1,~~085~~010,~~347~~717.0075 2,~~837~~692,~~759~~698.2290 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.~~119402~~118231 7.~~896140~~887396 8.~~032537~~030019

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