8-K 1 bsa01002.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 2001-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-01 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) 90-0042354 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 2001-2 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 2001-2 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 2001-2 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 2001-2 Trust, relating to the December 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Mortgage Pass-Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 BSA Series: 2001-2 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 I-A-1 07384YAA4 SEN 6.85000% 0.00 0.00 0.00 I-A-2 07384YAB2 SEN 6.47000% ~~104~~99,~~936~~817,~~583~~905.1009 ~~565~~538,~~783~~184.0687 56,~~118~~191,~~678~~265.0126 II-A 07384YAC0 SEN 21.~~15000~~70000% 5856,~~652~~033,~~107~~143.5819 ~~108~~82,~~587~~026.8530 21,~~618~~636,~~964~~546.3925 III-A 07384YAD8 SEN 7.50000% 1715,~~695~~564,~~837~~507.7159 ~~110~~97,~~598~~278.9817 21,~~131~~048,~~330~~697.1238 A-IO 07384YAE6 IO 7.00000% 0.00 210,000.00 0.00 M-1 07384YAF3 MEZ 2.~~53000~~08000% 10,781,000.00 2319,~~487~~309.6197 0.00 M-2 07384YAG1 MEZ 2.~~99000~~54000% 10,421,000.00 2622,~~831~~793.1804 0.00 B 07384YAH9 SUB 3.~~98000~~53000% 9,343,000.00 3228,~~020~~400.5412 0.00 B-IO BSA012BIO IO 0.00000% 0.00 ~~417~~395,~~807~~438.9809 0.00 OC BSA0102OC OC 0.00000% 1,796,781.75 0.00 0.00 R-1 07384YAJ5 RES 0.00000% 0.00 0.00 0.00 R-2 07384YAK2 RES 0.00000% 0.00 0.00 0.00 R-3 07384YAL0 RES 0.00000% 0.00 0.00 0.00 Totals ~~213~~203,~~626~~757,~~310~~337.1462 1,~~495~~393,~~117~~430.2056 98,~~868~~876,~~972~~508.5289

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 0.00 0.00 0.00 I-A-2 0.00 9993,~~817~~626,~~905~~639.0983 56,~~684~~729,~~461~~450.0713 0.00 II-A 0.00 5654,~~033~~396,~~143~~596.1995 21,~~727~~718,~~552~~572.2455 0.00 III-A 0.00 1514,~~564~~515,~~507~~810.5921 21,~~241~~145,~~929~~975.1055 0.00 A-IO 0.00 0.00 210,000.00 0.00 M-1 0.00 10,781,000.00 2319,~~487~~309.6197 0.00 M-2 0.00 10,421,000.00 2622,~~831~~793.1804 0.00 B 0.00 9,343,000.00 3228,~~020~~400.5412 0.00 B-IO 0.00 0.00 ~~417~~395,~~807~~438.9809 0.00 OC 0.00 1,796,781.75 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~203~~194,~~757~~880,~~337~~828.6274 1110,~~364~~269,~~089~~939.7245 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) I-A-1 21,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-2 178,033,000.00 ~~104~~99,~~936~~817,~~583~~905.1009 0.00 56,~~118~~191,~~678~~265.0126 0.00 0.00 II-A 93,995,000.00 5856,~~652~~033,~~107~~143.5819 0.00 21,~~618~~636,~~964~~546.3925 0.00 0.00 III-A 35,783,000.00 1715,~~695~~564,~~837~~507.7159 0.00 21,~~131~~048,~~330~~697.1238 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 10,781,000.00 10,781,000.00 0.00 0.00 0.00 0.00 M-2 10,421,000.00 10,421,000.00 0.00 0.00 0.00 0.00 B 9,343,000.00 9,343,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 350.59 1,796,781.75 0.00 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 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 359,356,500.59 ~~213~~203,~~626~~757,~~310~~337.1462 0.00 98,~~868~~876,~~972~~508.5289 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-1 0.00 0.00 0.00000000 0.00 I-A-2 56,~~118~~191,~~678~~265.0126 9993,~~817~~626,~~905~~639.0983 0.~~56067080~~52589486 56,~~118~~191,~~678~~265.0126 II-A 21,~~618~~636,~~964~~546.3925 5654,~~033~~396,~~143~~596.1995 0.~~59612898~~57871798 21,~~618~~636,~~964~~546.3925 III-A 21,~~131~~048,~~330~~697.1238 1514,~~564~~515,~~507~~810.5921 0.~~43496933~~40566219 21,~~131~~048,~~330~~697.1238 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 10,781,000.00 1.00000000 0.00 M-2 0.00 10,421,000.00 1.00000000 0.00 B 0.00 9,343,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 1,796,781.75 5,125.02281868 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 98,~~868~~876,~~972~~508.5289 ~~203~~194,~~757~~880,~~337~~828.6274 0.~~56700613~~54230500 98,~~868~~876,~~972~~508.5289

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 21,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 178,033,000.00 ~~589~~560.~~42209085~~67080311 0.00000000 2834.~~75128774~~77594188 0.00000000 II-A 93,995,000.00 ~~623~~596.~~99178233~~12897697 0.00000000 2717.~~86280536~~41099261 0.00000000 III-A 35,783,000.00 ~~494~~434.~~53197636~~96933153 0.00000000 5929.~~56264483~~30713970 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 10,781,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,421,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 9,343,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 350.59 5125022.81867709 0.00000000 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 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.00000000 2834.~~75128774~~77594188 ~~560~~525.~~67080311~~89486123 0.~~56067080~~52589486 2834.~~75128774~~77594188 II-A 0.00000000 2717.~~86280536~~41099261 ~~596~~578.~~12897697~~71798447 0.~~59612898~~57871798 2717.~~86280536~~41099261 III-A 0.00000000 5929.~~56264483~~30713970 ~~434~~405.~~96933153~~66219182 0.~~43496933~~40566219 5929.~~56264483~~30713970 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 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 5,125,022.~~8186770~~81867709 5125.02281868 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 I-A-1 21,000,000.00 6.85000% 0.00 0.00 0.00 0.00 I-A-2 178,033,000.00 6.47000% ~~104~~99,~~936~~817,~~583~~905.1009 ~~565~~538,~~783~~184.0887 0.00 0.00 II-A 93,995,000.00 21.~~15000~~70000% 5856,~~652~~033,~~107~~143.5819 ~~108~~82,~~587~~026.8630 0.00 0.00 III-A 35,783,000.00 7.50000% 1715,~~695~~564,~~837~~507.7159 ~~110~~97,~~598~~278.9917 0.00 0.00 A-IO 0.00 7.00000% 36,000,000.00 210,000.00 0.00 0.00 M-1 10,781,000.00 2.~~53000~~08000% 10,781,000.00 2319,~~487~~309.6197 0.00 0.00 M-2 10,421,000.00 2.~~99000~~54000% 10,421,000.00 2622,~~831~~793.1804 0.00 0.00 B 9,343,000.00 3.~~98000~~53000% 9,343,000.00 3228,~~020~~400.5412 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 350.59 0.00000% 1,796,781.75 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 359,356,500.59 1997,~~077,309~~992.2647 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-1 0.00 0.00 0.00 0.00 0.00 I-A-2 0.0100 0.00 ~~565~~538,~~783~~184.0687 0.00 9993,~~817~~626,~~905~~639.0983 II-A 0.0100 0.00 ~~108~~82,~~587~~026.8530 0.00 5654,~~033~~396,~~143~~596.1995 III-A 0.00 0.00 ~~110~~97,~~598~~278.9817 0.00 1514,~~564~~515,~~507~~810.5921 A-IO 0.00 0.00 210,000.00 0.00 36,000,000.00 M-1 0.00 0.00 2319,~~487~~309.6197 0.00 10,781,000.00 M-2 0.00 0.00 2622,~~831~~793.1804 0.00 10,421,000.00 B 0.00 0.00 3228,~~020~~400.5412 0.00 9,343,000.00 B-IO 0.00 0.00 ~~417~~395,~~807~~438.9809 0.00 0.00 OC 0.00 0.00 0.00 0.00 1,796,781.75 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.0200 0.00 1,~~495~~393,~~117~~430.2056 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-1 21,000,000.00 6.85000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 178,033,000.00 6.47000% ~~589~~560.~~42209085~~67080311 3.~~17796746~~02295007 0.00000000 0.00000000 II-A 93,995,000.00 21.~~15000~~70000% ~~623~~596.~~99178233~~12897697 10.~~15525145~~87266663 0.00000000 0.00000000 III-A 35,783,000.00 7.50000% ~~494~~434.~~53197636~~96933153 32.~~09082497~~71855825 0.00000000 0.00000000 A-IO 0.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000 M-1 10,781,000.00 2.~~53000~~08000% 1000.00000000 21.~~17861145~~79111121 0.00000000 0.00000000 M-2 10,421,000.00 2.~~99000~~54000% 1000.00000000 2.~~57472220~~18722196 0.00000000 0.00000000 B 9,343,000.00 3.~~98000~~53000% 1000.00000000 3.~~42722252~~03972172 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 350.59 0.00000% 5125022.81867709 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.~~00000006~~00000000 0.00000000 3.~~17796734~~02295007 0.00000000 ~~560~~525.~~67080311~~89486123 II-A 0.~~00000011~~00000000 0.00000000 10.~~15525134~~87266663 0.00000000 ~~596~~578.~~12897697~~71798447 III-A 0.00000000 0.00000000 32.~~09082469~~71855825 0.00000000 ~~434~~405.~~96933153~~66219182 A-IO 0.00000000 0.00000000 5.83333333 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 21.~~17861145~~79111121 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~57472220~~18722196 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~42722252~~03972172 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 5125022.81867709 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 1110,~~308~~244,~~973~~034.2678 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 256,~~746~~076.3669 Realized Losses (~~132~~164,~~636~~662.6273) Prepayment Penalties 0.00 Total Deposits 1110,~~433~~335,~~083~~448.0074 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 6865,~~993~~509.2829 Payment of Interest and Principal 1110,~~364~~269,~~089~~939.7245 Total Withdrawals (Pool Distribution Amount) 1110,~~433~~335,~~083~~448.0074 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1314,~~419~~547.8479 Servicing Fee Support 7,~~275~~651.1946 Non-Supported Prepayment/Curtailment Interest Shortfall 6,~~144~~896.6533

SERVICING FEES Gross Servicing Fee 7471,~~488~~462.2577 Master Servicing Fee 1,~~780~~697.2298 Supported Prepayment/Curtailment Interest Shortfall 7,~~275~~651.1946 Net Servicing Fee 6865,~~993~~509.2829

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 ~~129~~124 0 0 ~~129~~124 3,~~841~~457,~~754~~720.4287 0.00 0.00 3,~~841~~457,~~754~~720.4287 30 Days ~~203~~192 1312 0 0 ~~216~~204 7,~~537~~190,~~966~~793.6466 ~~481~~573,~~006~~540.6063 0.00 0.00 87,~~018~~764,~~973~~334.2429 60 Days 4959 712 0 0 5671 2,~~566~~907,~~305~~459.9594 ~~148~~275,~~954~~164.4276 0.00 0.00 23,~~715~~182,~~260~~624.3770 90 Days 2210 12 9 6 0 4325 1376,~~245,610~~878.9833 ~~548~~209,~~794~~740.6677 ~~247~~392,~~234~~225.0033 0.00 2978,~~041,639~~844.6443 120 Days 2217 96 1110 0 4233 ~~587~~429,~~589~~997.3707 ~~208~~373,~~428~~011.60 ~~366~~588,~~081~~993.4407 0.00 1,~~162~~392,~~099~~001.4174 150 Days 1215 68 13 01 3137 ~~576~~560,~~881~~590.8397 ~~276~~252,~~074~~464.8389 ~~493~~420,~~953~~077.4665 026,363.0060 1,~~346~~259,~~910~~497.1211 180+ Days 2830 3137 5154 2928 ~~139~~149 1,~~734~~813,~~959~~490.5019 1,~~231~~881,~~504~~682.2445 2,~~349~~268,~~302~~062.7819 ~~937~~888,~~114~~512.1677 6,~~252~~851,~~880~~747.6860 Totals ~~336~~323 ~~207~~208 8483 29 ~~656~~643 1413,~~249~~279,~~314~~210.2716 67,~~736~~023,~~517~~325.7797 3,~~456~~669,~~571~~358.6824 ~~937~~914,~~114~~876.1637 2524,~~379~~886,~~517~~770.8874 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 2.~~570233~~531129% 0.000000% 0.000000% 2.~~570233~~531129% 1.~~884248~~773109% 0.000000% 0.000000% 1.~~884248~~773109% 30 Days 43.~~044630~~919167% 0.~~259016~~244948% 0.000000% 0.000000% 4.~~303646~~164115% 3.~~697113~~687417% 0.~~235917~~294110% 0.000000% 0.000000% 3.~~933030~~981527% 60 Days 01.~~976290~~204327% 0.~~139470~~244948% 0.000000% 0.000000% 1.~~115760~~449275% 1.~~258685~~490937% 0.~~073057~~141104% 0.000000% 0.000000% 1.~~331742~~632040% 90 Days 0.~~438334~~204123% 0.~~239091~~183711% 0.~~179319~~122474% 0.000000% 0.~~856744~~510308% 0.~~610929~~193262% 0.~~269165~~107554% 0.~~121260~~201132% 0.000000% 10.~~001354~~501948% 120 Days 0.~~438334~~347010% 0.~~179319~~122474% 0.~~219167~~204123% 0.000000% 0.~~836820~~673607% 0.~~288192~~220501% 0.~~102227~~191279% 0.~~179550~~302034% 0.000000% 0.~~569970~~713814% 150 Days 0.~~239091~~306185% 0.~~119546~~163299% 0.~~259016~~265360% 0.~~000000~~020412% 0.~~617653~~755256% 0.~~282941~~287469% 0.~~135405~~129463% 0.~~242267~~215415% 0.~~000000~~013519% 0.~~660613~~645866% 180+ Days 0.~~557880~~612370% 0.~~617653~~755256% 1.~~016139~~102266% 0.~~577804~~571545% 23.~~769476~~041437% 0.~~850938~~929952% 0.~~604010~~964921% 1.~~152252~~163055% 0.~~459622~~455627% 3.~~066823~~513556% Totals 6.~~694561~~593182% 4.~~124328~~245764% 1.~~673640~~694223% 0.~~577804~~591958% 13.~~070333~~125128% 6.~~988798~~809539% 3.~~304030~~601540% 1.~~695329~~881636% 0.~~459622~~469146% 12.~~447780~~761861%

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 6862 0 0 6862 1,~~677~~482,~~454~~594.2355 0.00 0.00 1,~~677~~482,~~454~~594.2355 30 Days ~~106~~110 68 0 0 ~~112~~118 3,~~913~~815,~~736~~801.4476 ~~221~~257,~~106~~513.6111 0.00 0.00 4,~~134~~073,~~843~~314.0587 60 Days 2125 46 0 0 2531 ~~827~~1,~~293~~017,097.9286 51127,~~857~~761.5929 0.00 0.00 ~~879~~1,~~151~~144,859.5115 90 Days 122 86 31 0 239 ~~744~~77,~~555~~918.9450 ~~344~~150,~~379~~520.6205 6825,~~688~~381.5114 0.00 1253,~~157,624~~819.0769 120 Days 9 42 65 0 1916 ~~151~~193,~~165~~213.7263 87172,~~191~~039.8329 ~~217~~404,~~040~~436.7498 0.00 ~~455~~769,~~398~~689.2990 150 Days 6 4 27 8 0 1417 ~~105~~113,~~644~~159.5668 4891,~~322~~621.7419 ~~362~~234,~~018~~428.5477 0.00 ~~515~~439,~~985~~209.8464 180 Days 1011 1013 2931 11 6066 ~~471~~426,~~073~~720.9706 ~~323~~491,~~795~~852.2492 1,~~104~~247,~~722~~574.5608 ~~310~~335,~~092~~428.0902 2,~~209~~501,~~683~~575.8608 Totals ~~162~~163 ~~102~~101 4644 11 ~~321~~319 65,~~213~~643,~~470~~911.5549 2,~~754~~773,~~107~~902.8640 1,~~752~~911,~~470~~820.3597 ~~310~~335,~~092~~428.0902 1110,~~030~~665,~~140~~062.8588 0-29 Days 2.~~191428~~050265% 0.000000% 0.000000% 2.~~191428~~050265% 1.~~401214~~304733% 0.000000% 0.000000% 1.~~401214~~304733% 30 Days 3.~~416049~~637566% 0.~~193361~~264550% 0.000000% 0.000000% 3.~~609410~~902116% 3.~~269230~~358035% 0.~~184695~~226620% 0.000000% 0.000000% 3.~~453925~~584655% 60 Days 0.~~676764~~826720% 0.~~128908~~198413% 0.000000% 0.000000% 01.~~805672~~025132% 0.~~691057~~895081% 0.~~043318~~112434% 0.000000% 0.000000% 01.~~734375~~007515% 90 Days 0.~~386723~~066138% 0.~~257815~~198413% 0.~~096681~~033069% 0.000000% 0.~~741218~~297619% 0.~~621944~~068571% 0.~~287668~~132463% 0.~~057377~~022336% 0.000000% 0.~~966989~~223370% 120 Days 0.~~290042~~297619% 0.~~128908~~066138% 0.~~193361~~165344% 0.000000% 0.~~612311~~529101% 0.~~126272~~170035% 0.~~072833~~151400% 0.~~181299~~355918% 0.000000% 0.~~380404~~677353% 150 Days 0.~~128908~~198413% 0.~~064454~~132275% 0.~~257815~~231481% 0.000000% 0.~~451176~~562169% 0.~~088247~~099584% 0.~~040365~~080630% 0.~~302402~~206305% 0.000000% 0.~~431014~~386519% 180 Days 0.~~322269~~363757% 0.~~322269~~429894% 01.~~934579~~025132% 0.~~354496~~363757% 12.~~933613~~182540% 0.~~393498~~375528% 0.~~270473~~432847% 01.~~922799~~097907% 0.~~259027~~295188% 12.~~845797~~201471% Totals 5.~~220754~~390212% 3.~~287141~~339947% 1.~~482436~~455026% 0.~~354496~~363757% 10.~~344828~~548942% 54.~~190248~~966833% 2.~~300567~~441128% 1.~~463877~~682467% 0.~~259027~~295188% 9.~~213719~~385617% 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 6162 0 0 6162 21,~~164~~975,~~300~~126.1932 0.00 0.00 21,~~164~~975,~~300~~126.1932 30 Days 9680 74 0 0 ~~103~~84 32,~~330~~767,~~083~~831.0664 ~~259~~316,~~899~~027.9952 0.00 0.00 3,~~589~~083,~~983~~859.0516 60 Days 2533 36 0 0 2839 ~~862~~1,~~934~~596,214.5494 97147,~~096~~403.8347 0.00 0.00 ~~960~~1,~~031~~743,618.3741 90 Days 108 3 4 6 0 2015 ~~501~~298,~~055~~959.0483 ~~204~~59,~~415~~220.0472 ~~178~~72,~~545~~956.4932 0.00 ~~884~~431,~~015~~136.5787 120 Days 138 54 5 0 2317 ~~436~~236,~~423~~783.6544 ~~121~~200,~~236~~972.7731 ~~149~~184,~~040~~556.7009 0.00 ~~706~~622,~~701~~311.1284 150 Days 89 4 56 01 1720 ~~471~~447,~~237~~431.2729 ~~227~~160,~~752~~843.0970 ~~131~~185,~~934~~648.9288 026,363.0060 ~~830~~820,~~924~~287.2847 180 Days 1819 2123 2123 1817 7882 1,~~263~~386,~~885~~770.5313 ~~907~~1,~~709~~063,007.0063 ~~917~~1,~~533~~020,488.9211 ~~627~~553,~~022~~084.0775 34,~~716~~023,~~150~~350.5262 Totals ~~170~~157 ~~105~~106 3738 18 ~~330~~319 6,~~865~~733,~~619~~991.0927 3,~~982~~922,~~409~~601.9167 1,~~377~~463,~~055~~649.0340 ~~627~~579,~~022~~448.0735 12,~~852~~699,~~106~~690.1069 0-29 Days 3.~~284868~~406593% 0.000000% 0.000000% 3.~~284868~~406593% 3.~~335152~~128809% 0.000000% 0.000000% 3.~~335152~~128809% 30 Days 54.~~169628~~395604% 0.~~376952~~219780% 0.000000% 0.000000% 54.~~546581~~615385% 54.~~131605~~384538% 0.~~400502~~500621% 0.000000% 0.000000% 54.~~532107~~885159% 60 Days 1.~~346257~~813187% 0.~~161551~~329670% 0.000000% 0.000000% 12.~~507808~~142857% 12.~~329768~~528573% 0.~~149625~~233503% 0.000000% 0.000000% 12.~~479393~~762076% 90 Days 0.~~538503~~439560% 0.~~215401~~164835% 0.~~323102~~219780% 0.000000% 10.~~077006~~824176% 0.~~772118~~473584% 0.~~315000~~093812% 0.~~275136~~115571% 0.000000% 10.~~362254~~682966% 120 Days 0.~~700054~~439560% 0.~~269251~~219780% 0.~~269251~~274725% 0.000000% 10.~~238557~~934066% 0.~~672522~~375090% 0.~~186824~~318361% 0.~~229669~~292356% 0.000000% 10.~~089015~~985808% 150 Days 0.~~430802~~494505% 0.~~215401~~219780% 0.~~269251~~329670% 0.~~000000~~054945% 01.~~915455~~098901% 0.~~726169~~708778% 0.~~350962~~254793% 0.~~203310~~294087% 0.~~000000~~041763% 1.~~280441~~299422% 180 Days 01.~~969305~~043956% 1.~~130856~~263736% 1.~~130856~~263736% 0.~~969305~~934066% 4.~~200323~~505495% 12.~~947628~~196791% 1.~~398765~~683916% 1.~~413905~~616561% 0.~~966231~~876145% 56.~~726529~~373413% Totals 98.~~154550~~626374% 5.~~654281~~824176% 12.~~992461~~087912% 0.~~969305~~989011% 17.~~770598~~527473% 10.~~579810~~667354% 6.~~136830~~213816% 2.~~122020~~318575% 0.~~966231~~917907% 1920.~~804891~~117653% 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 12 0 0 0 12 ~~294~~607,~~147~~160.1426 0.00 0.00 0.00 ~~294~~607,~~147~~160.1426 60 Days 31 0 0 0 31 ~~876~~294,~~077~~147.4914 0.00 0.00 0.00 ~~876~~294,~~077~~147.4914 90 Days 0 0 01 0 01 0.00 0.00 0293,887.0087 0.00 0293,887.0087 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 1 0 0 1 0.00 326,821.90 0.00 ~~327,046.30~~ 0.00 ~~327~~326,~~046~~821.3090 Totals 43 01 1 0 5 1901,~~170,224~~307.6340 0326,821.0090 ~~327~~293,~~046~~887.3087 0.00 1,~~497~~522,~~270~~017.9317 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 13.~~694915~~636364% 0.000000% 0.000000% 0.000000% 13.~~694915~~636364% 13.~~525660~~326932% 0.000000% 0.000000% 0.000000% 13.~~525660~~326932% 60 Days 51.~~084746~~818182% 0.000000% 0.000000% 0.000000% 51.~~084746~~818182% 41.~~543973~~611778% 0.000000% 0.000000% 0.000000% 41.~~543973~~611778% 90 Days 0.000000% 0.000000% 01.~~000000~~818182% 0.000000% 01.~~000000~~818182% 0.000000% 0.000000% 01.~~000000~~610357% 0.000000% 01.~~000000~~610357% 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% 01.~~000000~~818182% 10.~~694915~~000000% 0.000000% 1.~~694915~~818182% 0.000000% 01.~~000000~~790819% 10.~~696299~~000000% 0.000000% 1.~~696299~~790819% Totals 65.~~779661~~454545% 01.~~000000~~818182% 1.~~694915~~818182% 0.000000% 89.~~474576~~090909% 64.~~069634~~938710% 01.~~000000~~790819% 1.~~696299~~610357% 0.000000% 78.~~765933~~339886%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 256,~~746~~076.3669

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 9.~~576383~~611364% Weighted Average Net Coupon 9.~~157961~~190494% Weighted Average Pass-Through Rate 9.~~153558~~186170% Weighted Average Maturity(Stepdown Calculation ) ~~209~~208 Beginning Scheduled Collateral Loan Count 5,~~159~~019 Number Of Loans Paid In Full ~~140~~120 Ending Scheduled Collateral Loan Count 54,~~019~~899 Beginning Scheduled Collateral Balance ~~213~~203,~~626~~757,~~310~~337.1562 Ending Scheduled Collateral Balance ~~203~~194,~~757~~880,~~337~~828.6273 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~203~~195,~~887~~008,~~905~~944.2787 Monthly P &I Constant 2,~~675~~582,~~892~~084.4601 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~132~~164,~~636~~662.6273 Cumulative Realized Loss 1,~~048~~212,~~164~~827.3609 Ending Scheduled Balance for Premium Loans ~~203~~194,~~757~~880,~~337~~828.6273 Scheduled Principal ~~971~~950,~~086~~095.3671 Unscheduled Principal 87,~~897~~926,~~886~~413.1718 Required Overcollateralization Amount 1,796,781.75 Overcollateralized Increase Amount ~~132~~164,~~636~~662.6273 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,796,781.75 Overcollateralized Amount 1,796,781.75 Overcollateralized Deficiency Amount ~~132~~164,~~636~~662.6273 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~132~~164,~~636~~662.6273 Excess Cash Amount ~~550~~560,~~444~~100.5782

Miscellaneous Reporting BSSP Group 1 - Stated Principal Balance 109,~~054~~918,~~517~~052.7724 BSSP Group 2 - Stated Principal Balance ~~147~~146,~~299~~558.4850 BSSP Group 3 - Stated Principal Balance ~~198~~196,~~462~~657.4564 Three Month Rolling Average 6.~~151780~~559882% Trigger Event NO

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 9.~~541046~~560235 10.~~169501~~195394 7.~~907663~~961339 Weighted Average Net Rate 9.~~140304~~157411 9.~~681284~~707276 7.~~606663~~654956 Weighted Average Maturity ~~109~~108 1615 ~~232~~231 Beginning Loan Count 3,~~188~~103 1,~~905~~857 6659 Loans Paid In Full 8579 4837 74 Ending Loan Count 3,~~103~~024 1,~~857~~820 5955 Beginning Scheduled Balance ~~124~~119,~~726~~609,~~993~~486.7560 6764,~~536~~887,~~005~~225.2139 2119,~~363~~260,~~311~~625.1963 Ending scheduled Balance ~~119~~113,~~609~~529,~~486~~200.6074 6463,~~887~~120,~~225~~245.3999 1918,~~260~~231,~~625~~382.6300 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 1,~~621~~568,~~084~~243.4960 ~~880~~856,~~470~~186.2399 ~~174~~157,~~337~~653.7442 Scheduled Principal ~~629~~615,~~396~~331.1630 ~~308~~304,~~130~~894.6863 3329,~~559~~869.5278 Unscheduled Principal 45,~~488~~464,~~110~~954.9956 21,~~340~~462,~~649~~084.1477 2999,~~069,126~~373.0485 Scheduled Interest ~~991~~952,~~688~~912.3330 ~~572~~551,~~339~~292.5536 ~~140~~127,~~778~~783.2264 Servicing Fees 4140,~~652~~151.7829 2726,~~476~~393.8487 54,~~358~~917.6361 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 ~~659~~625.8917 0.00 ~~123~~109.8903 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 ~~949~~912,~~375~~135.6684 ~~544~~524,~~862~~898.7149 ~~135~~122,~~295~~757.7000 Realized Loss Amount 673,~~622~~871.9400 65160,~~013~~791.6873 0.00 Cumulative Realized Loss ~~498~~502,~~393~~264.92 ~~549~~710,~~484~~275.2598 286.19 Percentage of Cumulative Losses 0.00 0.01 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 9.~~133955~~151139 9.~~681284~~707276 7.~~599704~~648163

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed Weighted Average Coupon Rate 9.~~576383~~611364 Weighted Average Net Rate 9.~~157961~~190494 Weighted Average Maturity ~~209~~208 Beginning Loan Count 5,~~159~~019 Loans Paid In Full ~~140~~120 Ending Loan Count 54,~~019~~899 Beginning Scheduled Balance ~~213~~203,~~626~~757,~~310~~337.1562 Ending scheduled Balance ~~203~~194,~~757~~880,~~337~~828.6273 Record Date 1011/3130/2002 Principal And Interest Constant 2,~~675~~582,~~892~~084.4601 Scheduled Principal ~~971~~950,~~086~~095.3671 Unscheduled Principal 87,~~897~~926,~~886~~413.1718 Scheduled Interest 1,~~704~~631,~~806~~988.1030 Servicing Fees 7471,~~488~~462.2577 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~783~~734.7820 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,~~629~~559,~~534~~791.0733 Realized Loss Amount ~~132~~164,~~636~~662.6273 Cumulative Realized Loss 1,~~048~~212,~~164~~827.3609 Percentage of Cumulative Losses 0.01 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 9.~~153558~~186170

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES TRUST 2001-2