8-K 1 bsa01ac1.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-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-02 Pooling and Servicing Agreement) (Commission 52-2316422 (State or other File Number) 52-2316423 jurisdiction 52-2316421 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 BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2001-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 2001-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 2001-AC1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/7/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2001-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: 2001-AC1 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-IO 07384YAS5 IO 8.00000% 0.00 161,333.33 0.00 I-A1 07384YAM8 SEN 1.~~98000~~53000% 0.00 0.00 0.00 I-A2 07384YAN6 SEN 5.64000% 3630,~~637~~798,~~703~~079.8048 ~~172~~144,~~197~~750.2197 5,~~839~~155,~~624~~533.3201 I-A3 07384YAP1 SEN 6.35000% 16,107,000.00 85,232.88 0.00 I-A4 07384YAQ9 SEN 6.90000% 24,405,000.00 140,328.75 0.00 I-A5 07384YAW6 SEN 7.~~14133~~05603% 13,250,000.00 7877,~~852~~910.2333 0.00 II-A 07384YAR7 SEN 7.00000% 4341,~~442~~101,~~661~~754.8863 ~~253~~239,~~415~~760.5324 23,~~340~~742,~~907~~669.2596 M-1 07384YAT3 SUB 6.85000% 4,841,000.00 27,634.04 0.00 M-2 07384YAU0 SUB 7.00000% 4,236,000.00 24,710.00 0.00 B 07384YAV8 SUB 7.00000% 3,025,000.00 17,645.83 0.00 B-IO BSA1ACBIO IO 0.00000% 605,159.64 3620,~~875~~593.0807 0.00 P BSA01AC1P SUB 0.00000% 100.00 ~~6,109~~0.4400 0.00 R-1 BSA01ACR1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA01ACR2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA01ACR3 RES 0.00000% 0.00 0.00 0.00 Totals ~~146~~138,~~549~~369,~~625~~093.3275 1939,~~004,334~~899.3244 8,~~180~~898,~~531~~202.5797

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 161,333.33 0.00 I-A1 0.00 0.00 0.00 0.00 I-A2 0.00 3025,~~798~~642,~~079~~546.4847 65,~~011~~300,~~821~~283.5398 0.00 I-A3 0.00 16,107,000.00 85,232.88 0.00 I-A4 0.00 24,405,000.00 140,328.75 0.00 I-A5 0.00 13,250,000.00 7877,~~852~~910.2333 0.00 II-A 0.00 4137,~~101~~359,~~754~~084.6367 23,~~594~~982,~~322~~430.7820 0.00 M-1 0.00 4,841,000.00 27,634.04 0.00 M-2 0.00 4,236,000.00 24,710.00 0.00 B 0.00 3,025,000.00 17,645.83 0.00 B-IO 0.00 605,159.64 3620,~~875~~593.0807 0.00 P 0.00 100.00 ~~6,109~~0.4400 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 ~~138~~129,~~369~~470,~~093~~890.7578 9,~~184~~838,~~865~~102.8941 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-IO 0.00 0.00 0.00 0.00 0.00 0.00 I-A1 38,552,000.00 0.00 0.00 0.00 0.00 0.00 I-A2 40,056,000.00 3630,~~637~~798,~~703~~079.8048 0.00 5,~~839~~155,~~624~~533.3201 0.00 0.00 I-A3 16,107,000.00 16,107,000.00 0.00 0.00 0.00 0.00 I-A4 24,405,000.00 24,405,000.00 0.00 0.00 0.00 0.00 I-A5 13,250,000.00 13,250,000.00 0.00 0.00 0.00 0.00 II-A 97,591,000.00 4341,~~442~~101,~~661~~754.8863 0.00 23,~~340~~742,~~907~~669.2596 0.00 0.00 M-1 4,841,000.00 4,841,000.00 0.00 0.00 0.00 0.00 M-2 4,236,000.00 4,236,000.00 0.00 0.00 0.00 0.00 B 3,025,000.00 3,025,000.00 0.00 0.00 0.00 0.00 B-IO 756.67 605,159.64 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 242,063,856.67 ~~146~~138,~~549~~369,~~625~~093.3275 0.00 8,~~180~~898,~~531~~202.5797 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-IO 0.00 0.00 0.00000000 0.00 I-A1 0.00 0.00 0.00000000 0.00 I-A2 5,~~839~~155,~~624~~533.3201 3025,~~798~~642,~~079~~546.4847 0.~~76887556~~64016743 5,~~839~~155,~~624~~533.3201 I-A3 0.00 16,107,000.00 1.00000000 0.00 I-A4 0.00 24,405,000.00 1.00000000 0.00 I-A5 0.00 13,250,000.00 1.00000000 0.00 II-A 23,~~340~~742,~~907~~669.2596 4137,~~101~~359,~~754~~084.6367 0.~~42116337~~38281281 23,~~340~~742,~~907~~669.2596 M-1 0.00 4,841,000.00 1.00000000 0.00 M-2 0.00 4,236,000.00 1.00000000 0.00 B 0.00 3,025,000.00 1.00000000 0.00 B-IO 0.00 605,159.64 799.76692614 0.00 P 0.00 100.00 1.00000000 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 8,~~180~~898,~~531~~202.5797 ~~138~~129,~~369~~470,~~093~~890.7578 0.~~57162228~~53486255 8,~~180~~898,~~531~~202.5797

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 38,552,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A2 40,056,000.00 ~~914~~768.~~66206810~~87556121 0.00000000 ~~145~~128.~~78650689~~70813386 0.00000000 I-A3 16,107,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 24,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 13,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A 97,591,000.00 ~~445~~421.~~15028927~~16337193 0.00000000 2338.~~98691734~~35056470 0.00000000 M-1 4,841,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,236,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 756.67 799766.92613689 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 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-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A2 0.00000000 ~~145~~128.~~78650689~~70813386 ~~768~~640.~~87556121~~16742735 0.~~76887556~~64016743 ~~145~~128.~~78650689~~70813386 I-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A 0.00000000 2338.~~98691734~~35056470 ~~421~~382.~~16337193~~81280723 0.~~42116337~~38281281 2338.~~98691734~~35056470 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 799,766.92613689 799.76692614 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 A-IO 0.00 8.00000% 24,200,000.00 161,333.33 0.00 0.00 I-A1 38,552,000.00 1.~~98000~~53000% 0.00 0.00 0.00 0.00 I-A2 40,056,000.00 5.64000% 0.00 ~~172~~144,~~197~~750.2197 0.00 0.00 I-A3 16,107,000.00 6.35000% 0.00 85,232.88 0.00 0.00 I-A4 24,405,000.00 6.90000% 0.00 140,328.75 0.00 0.00 I-A5 13,250,000.00 7.~~14133~~05603% 0.00 7877,~~852~~910.2333 0.00 0.00 II-A 97,591,000.00 7.00000% 0.00 ~~253~~239,~~415~~760.5324 0.00 0.00 M-1 4,841,000.00 6.85000% 0.00 27,634.04 0.00 0.00 M-2 4,236,000.00 7.00000% 0.00 24,710.00 0.00 0.00 B 3,025,000.00 7.00000% 0.00 17,645.83 0.00 0.00 B-IO 756.67 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 0.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 242,063,856.67 ~~961~~919,~~349~~306.8037 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-IO 0.00 0.00 161,333.33 0.00 24,200,000.00 I-A1 0.00 0.00 0.00 0.00 0.00 I-A2 0.00 0.00 ~~172~~144,~~197~~750.2197 0.00 0.00 I-A3 0.00 0.00 85,232.88 0.00 0.00 I-A4 0.00 0.00 140,328.75 0.00 0.00 I-A5 0.00 0.00 7877,~~852~~910.2333 0.00 0.00 II-A 0.00 0.00 ~~253~~239,~~415~~760.5324 0.00 0.00 M-1 0.00 0.00 27,634.04 0.00 0.00 M-2 0.00 0.00 24,710.00 0.00 0.00 B 0.00 0.00 17,645.83 0.00 0.00 B-IO 0.00 0.00 3620,~~875~~593.0807 0.00 0.00 P 0.00 0.00 ~~6,109~~0.4400 0.00 0.00 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 0.00 0.00 1939,~~004,334~~899.3244 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-IO 0.00 8.00000% 1000.00000000 6.66666653 0.00000000 0.00000000 I-A1 38,552,000.00 1.~~98000~~53000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A2 40,056,000.00 5.64000% 0.00000000 43.~~29891177~~61371505 0.00000000 0.00000000 I-A3 16,107,000.00 6.35000% 0.00000000 5.29166698 0.00000000 0.00000000 I-A4 24,405,000.00 6.90000% 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 13,250,000.00 7.~~14133~~05603% 0.00000000 5.~~95111170~~88002491 0.00000000 0.00000000 II-A 97,591,000.00 7.00000% 0.00000000 2.~~59671004~~45678638 0.00000000 0.00000000 M-1 4,841,000.00 6.85000% 0.00000000 5.70833299 0.00000000 0.00000000 M-2 4,236,000.00 7.00000% 0.00000000 5.83333333 0.00000000 0.00000000 B 3,025,000.00 7.00000% 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 756.67 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 All denominations are per $1,000.

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-IO 0.00000000 0.00000000 6.66666653 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A2 0.00000000 0.00000000 43.~~29891177~~61371505 0.00000000 0.00000000 I-A3 0.00000000 0.00000000 5.29166698 0.00000000 0.00000000 I-A4 0.00000000 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 0.00000000 0.00000000 5.~~95111170~~88002491 0.00000000 0.00000000 II-A 0.00000000 0.00000000 2.~~59671004~~45678638 0.00000000 0.00000000 M-1 0.00000000 0.00000000 5.70833299 0.00000000 0.00000000 M-2 0.00000000 0.00000000 5.83333333 0.00000000 0.00000000 B 0.00000000 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 ~~48733~~27215.~~37121863~~39112163 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~61094~~0.~~40000000~~00000000 0.00000000 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 (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 9,~~141~~789,~~646~~856.8178 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~108~~111,~~720~~906.8875 Realized Losses (35,~~241~~047.6465) Prepayment Penalties 0.00 Total Deposits 9,~~215~~866,~~126~~715.0588 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 3028,~~260~~613.1647 Payment of Interest and Principal 9,~~184~~838,~~865~~102.8941 Total Withdrawals (Pool Distribution Amount) 9,~~215~~866,~~126~~715.0588 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~271~~213.0043 Servicing Fee Support ~~271~~213.0043 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 3028,~~531~~826.1690 Trustee Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall ~~271~~213.0043 Net Servicing Fee 3028,~~260~~613.1647

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 2 0 0 2 ~~371~~370,~~086~~965.4891 0.00 0.00 ~~371~~370,~~086~~965.4891 30 Days 1620 0 0 0 1620 23,~~471~~138,~~836~~105.1014 0.00 0.00 0.00 23,~~471~~138,~~836~~105.1014 60 Days 89 21 0 0 10 1,~~285~~253,~~537~~545.8213 ~~231~~127,~~895~~161.7344 0.00 0.00 1,~~517~~380,~~433~~706.5557 90 Days 74 01 01 0 76 1529,~~853,681~~014.9882 0104,659.0099 091,049.0075 0.00 1724,~~853,681~~724.9856 120 Days 14 0 3 4 0 87 79660,~~499~~522.3626 ~~367,944~~0.3500 ~~390~~625,~~858~~503.4180 0.00 ~~838~~1,~~302~~286,026.1206 150 Days 23 21 65 0 109 ~~677~~845,~~486~~376.4547 ~~381~~95,~~986~~488.7923 1748,~~084,243~~335.8720 0.00 21,~~143~~689,~~717~~199.1190 180+ Days 5 1 134 918 287 ~~703~~30 104,~~662~~031.9420 ~~153~~612,~~472~~615.9919 23,~~389~~527,~~972~~935.5379 1,~~329~~439,~~182~~411.9729 45,~~576~~683,~~291~~993.4347 Totals 3941 ~~10 23~~ 9 8127 7 84 6,~~071~~530,~~704~~595.6502 1,~~506~~310,~~386~~890.3476 34,~~865~~992,~~074~~824.8154 1,~~329~~439,~~182~~411.9729 1314,~~772~~273,~~348~~721.7761 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.~~238095~~250000% 0.000000% 0.000000% 0.~~238095~~250000% 0.~~268055~~286366% 0.000000% 0.000000% 0.~~268055~~286366% 30 Days 12.~~904762~~500000% 0.000000% 0.000000% 0.000000% 12.~~904762~~500000% 12.~~785537~~422453% 0.000000% 0.000000% 0.000000% 12.~~785537~~422453% 60 Days 01.~~952381~~125000% 0.~~238095~~125000% 0.000000% 0.000000% 1.~~190476~~250000% 0.~~928611~~967671% 0.~~167510~~098162% 0.000000% 0.000000% 1.~~096122~~065833% 90 Days 0.~~833333~~500000% 0.~~000000~~125000% 0.~~000000~~125000% 0.000000% 0.~~833333~~750000% 10.~~339012~~408372% 0.~~000000~~080792% 0.~~000000~~070286% 0.000000% 10.~~339012~~559449% 120 Days 0.~~119048~~500000% 0.~~357143~~000000% 0.~~476190~~375000% 0.000000% 0.~~952381~~875000% 0.~~057427~~509889% 0.~~265786~~000000% 0.~~282338~~482856% 0.000000% 0.~~605550~~992745% 150 Days 0.~~238095~~375000% 0.~~238095~~125000% 0.~~714286~~625000% 0.000000% 1.~~190476~~125000% 0.~~489384~~652586% 0.~~275929~~073712% 0.~~783206~~577676% 0.000000% 1.~~548519~~303974% 180+ Days 0.~~595238~~125000% 0.~~119048~~500000% 12.~~547619~~250000% 10.~~071429~~875000% 3.~~333333~~750000% 0.~~508293~~080307% 0.~~110862~~472907% 12.~~726403~~723382% 01.~~960139~~111150% 34.~~305696~~387746% Totals 45.~~642857~~125000% 1.~~190476~~125000% 23.~~738095~~375000% 10.~~071429~~875000% 910.~~642857~~500000% 5.~~108264~~041278% 1.~~088142~~011939% 23.~~791947~~854199% 01.~~960139~~111150% 911.~~948491~~018566% Delinquencies are stratified according to the information provided by the servicer. All 90 day delinquencies reported are actually 90+ day delinquencies.

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 2 0 0 2 ~~371~~370,~~086~~965.4891 0.00 0.00 ~~371~~370,~~086~~965.4891 30 Days 1516 0 0 0 1516 21,~~196~~822,~~491~~299.7315 0.00 0.00 0.00 21,~~196~~822,~~491~~299.7315 60 Days 78 21 0 0 9 ~~972~~978,~~815~~367.3868 ~~231~~127,~~895~~161.7344 0.00 0.00 1,~~204~~105,~~711~~529.1112 90 Days 4 01 01 0 46 ~~520~~529,~~183~~014.1882 0104,659.0099 091,049.0075 0.00 ~~520~~724,~~183~~724.1856 120 Days 14 30 42 0 86 79660,~~499~~522.3626 ~~367,944~~0.3500 ~~390~~236,~~858~~817.4190 0.00 ~~838~~897,~~302~~340.1216 150 Days 1 2 1 4 0 7 ~~169~~248,~~113~~515.4823 ~~381~~95,~~986~~488.7923 ~~454~~390,~~244~~858.8341 0.00 1734,~~005,345~~861.1087 180 Days 5 1 104 713 5 23 ~~703~~104,~~662~~031.9420 ~~153~~612,~~472~~615.9919 1,~~175~~534,~~901~~095.8403 ~~622~~732,~~251~~479.2759 2,~~655~~983,~~289~~221.0401 Totals 3335 109 1820 75 6869 4,~~641~~342,~~766~~750.0734 1,~~506~~310,~~386~~890.3476 2,~~021~~252,~~005~~821.0809 ~~622~~732,~~251~~479.2759 8,~~791~~638,~~408~~941.7678 0-29 Days 0.~~275103~~287356% 0.000000% 0.000000% 0.~~275103~~287356% 0.~~404598~~428616% 0.000000% 0.000000% 0.~~404598~~428616% 30 Days 2.~~063274~~298851% 0.000000% 0.000000% 0.000000% 2.~~063274~~298851% 2.~~394852~~105496% 0.000000% 0.000000% 0.000000% 2.~~394852~~105496% 60 Days 01.~~962861~~149425% 0.~~275103~~143678% 0.000000% 0.000000% 1.~~237964~~293103% 1.~~060668~~130412% 0.~~252838~~146923% 0.000000% 0.000000% 1.~~313506~~277335% 90 Days 0.~~550206~~574713% 0.~~000000~~143678% 0.~~000000~~143678% 0.000000% 0.~~550206~~862069% 0.~~567160~~611227% 0.~~000000~~120925% 0.~~000000~~105199% 0.000000% 0.~~567160~~837351% 120 Days 0.~~137552~~574713% 0.~~412655~~000000% 0.~~550206~~287356% 0.000000% 10.~~100413~~862069% 0.~~086679~~763172% 0.~~401173~~000000% 0.~~426156~~273621% 0.000000% 01.~~914007~~036793% 150 Days 0.~~137552~~287356% 0.~~275103~~143678% 0.~~550206~~574713% 0.000000% 01.~~962861~~005747% 0.~~184386~~287136% 0.~~416483~~110328% 0.~~495267~~451600% 0.000000% 10.~~096136~~849064% 180 Days 0.~~687758~~143678% 0.~~137552~~574713% 1.~~375516~~867816% 0.~~962861~~718391% 3.~~163686~~304598% 0.~~767209~~120198% 0.~~167333~~707820% 1.~~282095~~772503% 0.~~678445~~846312% 23.~~895082~~446833% Totals 45.~~539202~~028736% 1.~~375516~~293103% 2.~~475928~~873563% 0.~~962861~~718391% 9.~~353508~~913793% 5.~~060953~~017642% 1.~~642425~~514612% 2.~~203517~~602924% 0.~~678445~~846312% 9.~~585341~~981489% 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 14 0 0 0 14 ~~275~~1,~~344~~315,805.3799 0.00 0.00 0.00 ~~275~~1,~~344~~315,805.3799 60 Days 1 0 0 0 1 ~~312~~275,~~722~~177.4445 0.00 0.00 0.00 ~~312~~275,~~722~~177.4445 90 Days 30 0 0 0 30 ~~1,333,498~~0.8000 0.00 0.00 0.00 ~~1,333,498~~0.8000 120 Days 0 0 01 0 01 0.00 0.00 0388,685.0090 0.00 0388,685.0090 150 Days 1 0 21 0 32 ~~508~~596,~~372~~861.9724 0.00 ~~629~~357,~~999~~476.0479 0.00 1954,~~138,372~~338.0103 180 Days 0 0 35 2 57 0.00 0.00 1,~~214~~993,~~070~~840.6976 706,931.70 12,~~921~~700,~~002~~772.3946 Totals 6 0 57 2 1315 2,~~429~~187,~~938~~844.5868 0.00 12,~~844~~740,~~069~~003.7345 706,931.70 45,~~980~~634,~~940~~779.0183 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~884956~~846154% 0.000000% 0.000000% 0.000000% 03.~~884956~~846154% 03.~~589358~~060524% 0.000000% 0.000000% 0.000000% 03.~~589358~~060524% 60 Days 0.~~884956~~961538% 0.000000% 0.000000% 0.000000% 0.~~884956~~961538% 0.~~669364~~640054% 0.000000% 0.000000% 0.000000% 0.~~669364~~640054% 90 Days 20.~~654867~~000000% 0.000000% 0.000000% 0.000000% 20.~~654867~~000000% 20.~~854276~~000000% 0.000000% 0.000000% 0.000000% 20.~~854276~~000000% 120 Days 0.000000% 0.000000% 0.~~000000~~961538% 0.000000% 0.~~000000~~961538% 0.000000% 0.000000% 0.~~000000~~904072% 0.000000% 0.~~000000~~904072% 150 Days 0.~~884956~~961538% 0.000000% 10.~~769912~~961538% 0.000000% 21.~~654867~~923077% 1.~~088143~~388281% 0.000000% 10.~~348476~~831480% 0.000000% 2.~~436619~~219761% 180 Days 0.000000% 0.000000% 24.~~654867~~807692% 1.~~769912~~923077% 46.~~424779~~730769% 0.000000% 0.000000% 24.~~598647~~637613% 1.~~513146~~644302% 46.~~111793~~281914% Totals 5.~~309735~~769231% 0.000000% 46.~~424779~~730769% 1.~~769912~~923077% 1114.~~504425~~423077% 5.~~201141~~088860% 0.000000% 36.~~947123~~373164% 1.~~513146~~644302% 1013.~~661410~~106325%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~108~~111,~~720~~906.8875

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~762414~~705187% Weighted Average Net Coupon 8.~~512415~~455187% Weighted Average Pass-Through Rate 8.~~486352~~455187% Weighted Average Maturity(Stepdown Calculation ) ~~319~~318 Beginning Scheduled Collateral Loan Count ~~886~~840 Number Of Loans Paid In Full 4640 Ending Scheduled Collateral Loan Count ~~840~~800 Beginning Scheduled Collateral Balance ~~146~~138,~~549~~369,~~625~~093.3275 Ending Scheduled Collateral Balance ~~138~~129,~~369~~470,~~093~~890.7578 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~138~~129,~~436~~542,~~563~~456.6872 Monthly P &I Constant 1,~~170~~104,~~476~~366.1545 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 35,~~241~~047.6465 Cumulative Realized Loss ~~140~~175,~~918~~966.8651 Ending Scheduled Balance for Premium Loans ~~138~~129,~~369~~470,~~093~~890.7578 Scheduled Principal ~~106~~100,~~478~~592.4644 Unscheduled Principal 8,~~074~~797,~~053~~610.1153 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 35,~~241~~047.6465 Overcollateralized reduction Amount 0.00 Specified O/C Amount 605,159.64 Overcollateralized Amount 605,159.64 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 35,~~241~~047.6465 Excess Cash Amount 7855,~~226~~640.1672

Miscellaneous Reporting 3 Month Rolling Delinquency Average 78.~~765841~~165842%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~785784~~778100 8.~~715926~~562035 8.~~762414~~705187 Weighted Average Net Rate 8.~~535784~~528100 8.~~465926~~312035 8.~~512415~~455187 Weighted Average Maturity ~~313~~312 ~~327~~326 ~~319~~318 Beginning Loan Count ~~767~~727 ~~119~~113 ~~886~~840 Loans Paid In Full 4031 69 4640 Ending Loan Count ~~727~~696 ~~113~~104 ~~840~~800 Beginning Scheduled Balance 9791,~~524~~675,~~756~~047.2129 4946,~~024~~694,~~869~~046.1146 ~~146~~138,~~549~~369,~~625~~093.3275 Ending scheduled Balance 9186,~~675~~504,~~047~~772.2990 4642,~~694~~966,~~046~~117.4688 ~~138~~129,~~369~~470,~~093~~890.7578 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant ~~785~~738,~~442~~328.6260 ~~385~~366,~~033~~037.5385 1,~~170~~104,~~476~~366.1545 Scheduled Principal 7167,~~416~~717.4297 3532,~~062~~874.0447 ~~106~~100,~~478~~592.4644 Unscheduled Principal 5,~~778~~102,~~292~~556.5042 23,~~295~~695,~~760~~054.6111 8,~~074~~797,~~053~~610.1153 Scheduled Interest ~~714~~670,~~026~~610.2063 ~~356~~333,~~080~~163.9338 1,~~070~~003,~~107~~774.1301 Servicing Fees 2019,~~317~~098.6597 109,~~213~~727.5193 3028,~~531~~826.1690 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 ~~693~~651,~~708~~511.5566 ~~345~~323,~~867~~435.4245 1974,~~039,575~~947.9711 Realized Loss Amount 35,~~241~~047.6465 0.00 35,~~241~~047.6465 Cumulative Realized Loss 3772,~~054~~102.9459 103,863.92 ~~140~~175,~~918~~966.8651 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.~~535784~~528100 8.~~465926~~312035 8.~~486352~~455187

Filing Compare · BEAR STEARNS AS BCK SEC TR 2001-AC1 AS-BCK CER SER 2001-AC1