8-K 1 arc02bc7.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 AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-92140-04 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2002 a distribution was made to holders of AMORTIZING RESIDENTIAL COLLATERAL TRUST, Mortgage Pass-Through Certificates, Series 2002-BC7 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC7 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. AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC7 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: 12/31/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC7 Trust, relating to the December 26, 2002 distribution. EX-99.1

Amortizing Residential Collateral ~~Mortgage~~ Trust Mortgage Pass-Through Certificates Record Date: ~~10/31/02~~ 11/2530/02 Distribution Date: 12/26/02 ARC Series: 2002-BC7 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 86358R7H4 SEN 21.~~21000~~76000% ~~530~~527,~~149~~061,~~429~~632.1913 1798,~~008,903~~791.8218 34,~~087~~100,~~797~~054.0615 A-2 86358R7J0 SEN 21.~~04000~~59000% ~~110~~108,~~823~~964,~~247~~936.5047 ~~194~~149,~~679~~191.5016 1,~~858~~382,~~311~~179.0364 A-3 86358R7W1 SEN 21.~~28000~~83000% 59,260,000.00 ~~116~~93,~~347~~383.1388 0.00 A-IO 86358R7K7 SEN 6.00000% 0.00 1,365,195.3738 0.00 A-SIO 86358R7L5 SEN 0.~~00000~~38000% 0.00 0268,124.0016 0.00 M-1 86358R7M3 SUB 2.~~63000~~18000% 49,643,000.00 ~~112~~93,~~427~~190.6194 0.00 M-2 86358R7N1 SUB 2.~~73000~~28000% 17,375,000.00 4034,~~845~~112.7392 0.00 M-3 86358R7P6 SUB 2.~~83000~~38000% 8,273,000.00 2016,~~160~~955.8405 0.00 M-4 86358R7Q4 SUB 32.~~23000~~78000% 6,206,000.00 1714,~~261~~856.3047 0.00 M-5 86358R7R2 SUB 32.~~43000~~98000% 10,342,000.00 3026,~~546~~538.2572 0.00 M-6 86358R7S0 SUB 3.~~63000~~18000% 4,137,000.00 1211,~~931~~328.5749 0.00 B-1 86358R7T8 SUB 3.~~83000~~38000% 8,274,000.00 2724,~~288~~081.1194 0.00 B-2 86358R7U5 SUB 43.~~03000~~58000% 6,206,000.00 2119,~~536~~131.5472 0.00 B-3 86358R7V3 SUB 3.~~83000~~38000% 10,342,000.00 3430,~~108~~100.4997 0.00 X ARC02BC7X SUB 0.00000% 3,310,137.00 2,~~325~~349,~~026~~634.9088 0.00 P ARC02BC7P SEN 0.00000% 0.00 5861,~~483~~720.7541 0.00 R-1 ARC02B7R1 SEN 0.00000% 0.00 0.00 0.00 R-2 ARC02B7R2 SEN 0.00000% 0.00 0.00 0.00 R-3 ARC02B7R3 SEN 0.00000% 0.00 0.00 0.00 Totals ~~824~~819,~~340~~394,~~813~~705.6960 5,~~385~~356,~~742~~338.9127 45,~~946~~482,~~108~~233.0979

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~527~~522,~~061~~961,~~632~~577.1398 4,~~096~~898,~~700~~845.8833 0.00 A-2 0.00 ~~108~~107,~~964~~582,~~936~~756.4783 21,~~052~~531,~~990~~370.5380 0.00 A-3 0.00 59,260,000.00 ~~116~~93,~~347~~383.1388 0.00 A-IO 0.00 0.00 1,365,195.3738 0.00 A-SIO 0.00 0.00 0268,124.0016 0.00 M-1 0.00 49,643,000.00 ~~112~~93,~~427~~190.6194 0.00 M-2 0.00 17,375,000.00 4034,~~845~~112.7392 0.00 M-3 0.00 8,273,000.00 2016,~~160~~955.8405 0.00 M-4 0.00 6,206,000.00 1714,~~261~~856.3047 0.00 M-5 0.00 10,342,000.00 3026,~~546~~538.2572 0.00 M-6 0.00 4,137,000.00 1211,~~931~~328.5749 0.00 B-1 0.00 8,274,000.00 2724,~~288~~081.1194 0.00 B-2 0.00 6,206,000.00 2119,~~536~~131.5472 0.00 B-3 0.00 10,342,000.00 3430,~~108~~100.4997 0.00 X 0.00 3,310,137.00 2,~~325~~349,~~026~~634.9088 0.00 P 0.00 0.00 5861,~~483~~720.7541 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 ~~819~~813,~~394~~912,~~705~~471.6081 10,~~331~~838,~~851~~572.0006 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-1 532,603,000.00 ~~530~~527,~~149~~061,~~429~~632.1913 0.00 34,~~087~~100,~~797~~054.0615 0.00 0.00 A-2 111,420,000.00 ~~110~~108,~~823~~964,~~247~~936.5047 0.00 1,~~858~~382,~~311~~179.0364 0.00 0.00 A-3 59,260,000.00 59,260,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 49,643,000.00 49,643,000.00 0.00 0.00 0.00 0.00 M-2 17,375,000.00 17,375,000.00 0.00 0.00 0.00 0.00 M-3 8,273,000.00 8,273,000.00 0.00 0.00 0.00 0.00 M-4 6,206,000.00 6,206,000.00 0.00 0.00 0.00 0.00 M-5 10,342,000.00 10,342,000.00 0.00 0.00 0.00 0.00 M-6 4,137,000.00 4,137,000.00 0.00 0.00 0.00 0.00 B-1 8,274,000.00 8,274,000.00 0.00 0.00 0.00 0.00 B-2 6,206,000.00 6,206,000.00 0.00 0.00 0.00 0.00 B-3 10,342,000.00 10,342,000.00 0.00 0.00 0.00 0.00 X 3,310,137.00 3,310,137.00 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 827,391,137.00 ~~824~~819,~~340~~394,~~813~~705.6960 0.00 45,~~946~~482,~~108~~233.0979 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 34,~~087~~100,~~797~~054.0615 ~~527~~522,~~061~~961,~~632~~577.1398 0.~~98959569~~98189754 34,~~087~~100,~~797~~054.0615 A-2 1,~~858~~382,~~311~~179.0364 ~~108~~107,~~964~~582,~~936~~756.4783 0.~~97796568~~96556055 1,~~858~~382,~~311~~179.0364 A-3 0.00 59,260,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 A-SIO 0.00 0.00 0.00000000 0.00 M-1 0.00 49,643,000.00 1.00000000 0.00 M-2 0.00 17,375,000.00 1.00000000 0.00 M-3 0.00 8,273,000.00 1.00000000 0.00 M-4 0.00 6,206,000.00 1.00000000 0.00 M-5 0.00 10,342,000.00 1.00000000 0.00 M-6 0.00 4,137,000.00 1.00000000 0.00 B-1 0.00 8,274,000.00 1.00000000 0.00 B-2 0.00 6,206,000.00 1.00000000 0.00 B-3 0.00 10,342,000.00 1.00000000 0.00 X 0.00 3,310,137.00 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 45,~~946~~482,~~108~~233.0979 ~~819~~813,~~394~~912,~~705~~471.6081 0.~~99033537~~98370944 45,~~946~~482,~~108~~233.0979

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 532,603,000.00 ~~995~~989.~~39324636~~59568784 0.00000000 57.~~79755852~~69814318 0.00000000 A-2 111,420,000.00 ~~994~~977.~~64411686~~96568363 0.00000000 1612.~~67843323~~40513050 0.00000000 A-3 59,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 49,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 17,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 8,273,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 6,206,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 10,342,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,137,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 8,274,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 6,206,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 10,342,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,310,137.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 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 (2) All classes are per $1000 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 57.~~79755852~~69814318 ~~989~~981.~~59568784~~89754466 0.~~98959569~~98189754 57.~~79755852~~69814318 A-2 0.00000000 1612.~~67843323~~40513050 ~~977~~965.~~96568363~~56055313 0.~~97796568~~96556055 1612.~~67843323~~40513050 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 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 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 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 (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-1 532,603,000.00 21.~~21000~~76000% ~~530~~527,~~149~~061,~~429~~632.1913 1798,~~008,903~~791.8218 0.00 0.00 A-2 111,420,000.00 21.~~04000~~59000% ~~110~~108,~~823~~964,~~247~~936.5047 ~~194~~149,~~679~~191.5016 0.00 0.00 A-3 59,260,000.00 21.~~28000~~83000% 59,260,000.00 ~~116~~93,~~347~~383.1388 0.00 0.00 A-IO 0.00 6.00000% 273,039,075.00 1,365,195.38 0.00 0.00 A-SIO 0.00 0.~~00000~~38000% ~~824~~819,~~340~~394,~~813~~705.6960 0268,124.0016 0.00 0.00 M-1 49,643,000.00 2.~~63000~~18000% 49,643,000.00 ~~112~~93,~~427~~190.6194 0.00 0.00 M-2 17,375,000.00 2.~~73000~~28000% 17,375,000.00 4034,~~845~~112.7392 0.00 0.00 M-3 8,273,000.00 2.~~83000~~38000% 8,273,000.00 2016,~~160~~955.8405 0.00 0.00 M-4 6,206,000.00 32.~~23000~~78000% 6,206,000.00 1714,~~261~~856.3047 0.00 0.00 M-5 10,342,000.00 32.~~43000~~98000% 10,342,000.00 3026,~~546~~538.2572 0.00 0.00 M-6 4,137,000.00 3.~~63000~~18000% 4,137,000.00 1211,~~931~~328.5749 0.00 0.00 B-1 8,274,000.00 3.~~83000~~38000% 8,274,000.00 2724,~~288~~081.1194 0.00 0.00 B-2 6,206,000.00 43.~~03000~~58000% 6,206,000.00 2119,~~536~~131.5472 0.00 0.00 B-3 10,342,000.00 3.~~83000~~38000% 10,342,000.00 3430,~~108~~100.4997 0.00 0.00 X 3,310,137.00 0.00000% 3,310,137.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 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 827,391,137.00 32,~~002~~944,~~232~~982.2798 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 1798,~~008,903~~791.8218 0.00 ~~527~~522,~~061~~961,~~632~~577.1398 A-2 0.00 0.00 ~~194~~149,~~679~~191.5016 0.00 ~~108~~107,~~964~~582,~~936~~756.4783 A-3 0.00 0.00 ~~116~~93,~~347~~383.1388 0.00 59,260,000.00 A-IO 0.00 0.00 1,365,195.3738 0.00 273,039,075.00 A-SIO 0.00 0.00 0268,124.0016 0.00 ~~819~~813,~~394~~912,~~705~~471.6081 M-1 0.00 0.00 ~~112~~93,~~427~~190.6194 0.00 49,643,000.00 M-2 0.00 0.00 4034,~~845~~112.7392 0.00 17,375,000.00 M-3 0.00 0.00 2016,~~160~~955.8405 0.00 8,273,000.00 M-4 0.00 0.00 1714,~~261~~856.3047 0.00 6,206,000.00 M-5 0.00 0.00 3026,~~546~~538.2572 0.00 10,342,000.00 M-6 0.00 0.00 1211,~~931~~328.5749 0.00 4,137,000.00 B-1 0.00 0.00 2724,~~288~~081.1194 0.00 8,274,000.00 B-2 0.00 0.00 2119,~~536~~131.5472 0.00 6,206,000.00 B-3 0.00 0.00 3430,~~108~~100.4997 0.00 10,342,000.00 X 0.00 0.00 2,~~325~~349,~~026~~634.9088 0.00 3,310,137.00 P 0.00 0.00 5861,~~483~~720.7541 0.00 0.01 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 5,~~385~~356,~~742~~338.9127 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-1 532,603,000.00 21.~~21000~~76000% ~~995~~989.~~39324636~~59568784 1.~~89428865~~49978723 0.00000000 0.00000000 A-2 111,420,000.00 21.~~04000~~59000% ~~994~~977.~~64411686~~96568363 1.~~74725812~~33899803 0.00000000 0.00000000 A-3 59,260,000.00 21.~~28000~~83000% 1000.00000000 1.~~96333328~~57583328 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000002 0.00000000 0.00000000 A-SIO 0.00 0.~~00000~~38000% ~~996~~990.~~31332339~~33536706 0.~~00000000~~32405974 0.00000000 0.00000000 M-1 49,643,000.00 2.~~63000~~18000% 1000.00000000 21.~~26472232~~87722217 0.00000000 0.00000000 M-2 17,375,000.00 2.~~73000~~28000% 1000.00000000 21.~~35083338~~96333353 0.00000000 0.00000000 M-3 8,273,000.00 2.~~83000~~38000% 1000.00000000 2.~~43694428~~04944397 0.00000000 0.00000000 M-4 6,206,000.00 32.~~23000~~78000% 1000.00000000 2.~~78138898~~39388817 0.00000000 0.00000000 M-5 10,342,000.00 32.~~43000~~98000% 1000.00000000 2.~~95361149~~56611100 0.00000000 0.00000000 M-6 4,137,000.00 3.~~63000~~18000% 1000.00000000 32.~~12583273~~73833454 0.00000000 0.00000000 B-1 8,274,000.00 3.~~83000~~38000% 1000.00000000 32.~~29805535~~91055596 0.00000000 0.00000000 B-2 6,206,000.00 43.~~03000~~58000% 1000.00000000 3.~~47027715~~08277796 0.00000000 0.00000000 B-3 10,342,000.00 3.~~83000~~38000% 1000.00000000 32.~~29805550~~91055599 0.00000000 0.00000000 X 3,310,137.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 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 (5) All classes are per $1000 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 1.~~89428865~~49978723 0.00000000 ~~989~~981.~~59568784~~89754466 A-2 0.00000000 0.00000000 1.~~74725812~~33899803 0.00000000 ~~977~~965.~~96568363~~56055313 A-3 0.00000000 0.00000000 1.~~96333328~~57583328 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 45.~~99999998~~00000002 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.~~00000000~~32405974 0.00000000 ~~990~~983.~~33536706~~70943944 M-1 0.00000000 0.00000000 21.~~26472232~~87722217 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 21.~~35083338~~96333353 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~43694428~~04944397 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.~~78138898~~39388817 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 2.~~95361149~~56611100 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 32.~~12583273~~73833454 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 32.~~29805535~~91055596 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.~~47027715~~08277796 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 32.~~29805550~~91055599 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~702~~709.~~39597334~~83010069 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 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 1011,~~600~~350,~~757~~388.0341 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~388~~199,~~270~~083.7189 Realized Losses 0.00 Prepayment Penalties ~~58,483~~0.7500 Total Deposits 11,~~047~~549,~~511~~472.4930 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~715~~710,~~660~~900.4924 Payment of Interest and Principal 10,~~331~~838,~~851~~572.0006 Total Withdrawals (Pool Distribution Amount) 11,~~047~~549,~~511~~472.4930 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~702~~697,~~608~~926.4049 Credit Risk Manager Fee 10,~~304~~242.2643 Securities Admin. Fee 2,~~747~~731.8332 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~715~~710,~~660~~900.4924

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 ~~303~~121 0 0 0 ~~303~~121 3714,~~981~~342,~~448~~132.8838 0.00 0.00 0.00 3714,~~981~~342,~~448~~132.8838 60 Days 6642 0 012 0 6654 74,~~308~~749,~~546~~759.9868 0.00 02,173,433.0054 0.00 76,~~308~~923,~~546~~193.9822 90 Days 2613 01 010 0 2624 31,~~651~~713,~~267~~862.1804 0157,500.00 01,446,350.00 0.00 3,~~651~~317,~~267~~712.1804 120 Days 31 0 04 0 35 ~~277~~49,~~300~~000.00 0.00 0459,437.0047 0.00 ~~277~~508,~~300~~437.0047 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 ~~398~~177 01 026 0 ~~398~~204 4920,~~218~~854,~~563~~754.0410 0157,500.00 04,079,221.0001 0.00 4925,~~218~~091,~~563~~475.0411 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 52.~~413614~~173132% 0.000000% 0.000000% 0.000000% 52.~~413614~~173132% 41.~~632690~~761024% 0.000000% 0.000000% 0.000000% 41.~~632690~~761024% 60 Days 10.~~179203~~754310% 0.000000% 0.~~000000~~215517% 0.000000% 10.~~179203~~969828% 0.~~891441~~583208% 0.000000% 0.~~000000~~266869% 0.000000% 0.~~891441~~850077% 90 Days 0.~~464535~~233477% 0.~~000000~~017960% 0.~~000000~~179598% 0.000000% 0.~~464535~~431034% 0.~~445354~~210440% 0.~~000000~~019339% 0.~~000000~~177593% 0.000000% 0.~~445354~~407371% 120 Days 0.~~053600~~017960% 0.000000% 0.~~000000~~071839% 0.000000% 0.~~053600~~089799% 0.~~033823~~006017% 0.000000% 0.~~000000~~056413% 0.000000% 0.~~033823~~062429% 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 73.~~110952~~178879% 0.~~000000~~017960% 0.~~000000~~466954% 0.000000% 73.~~110952~~663793% 62.~~003309~~560688% 0.~~000000~~019339% 0.~~000000~~500874% 0.000000% 63.~~003309~~080901%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Arm Loans 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 5519 0 0 0 5519 41,~~704~~543,~~338~~880.5367 0.00 0.00 0.00 41,~~704~~543,~~338~~880.5367 60 Days 107 0 0 0 107 ~~596~~394,~~137~~295.6445 0.00 0.00 0.00 ~~596~~394,~~137~~295.6445 90 Days 54 0 0 0 54 ~~411~~371,656.89 0.00 0.00 0.00 ~~411~~371,656.89 120 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 7030 0 0 0 7030 52,~~712~~309,~~133~~833.0601 0.00 0.00 0.00 52,~~712~~309,~~133~~833.0601 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 51.~~193579~~802657% 0.000000% 0.000000% 0.000000% 51.~~193579~~802657% 51.~~301679~~748656% 0.000000% 0.000000% 0.000000% 51.~~301679~~748656% 60 Days 0.~~944287~~664137% 0.000000% 0.000000% 0.000000% 0.~~944287~~664137% 0.~~671833~~446594% 0.000000% 0.000000% 0.000000% 0.~~671833~~446594% 90 Days 0.~~472144~~379507% 0.000000% 0.000000% 0.000000% 0.~~472144~~379507% 0.~~463928~~420952% 0.000000% 0.000000% 0.000000% 0.~~463928~~420952% 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 62.~~610009~~846300% 0.000000% 0.000000% 0.000000% 62.~~610009~~846300% 62.~~437440~~616202% 0.000000% 0.000000% 0.000000% 62.~~437440~~616202% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Fixed Loan 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 ~~216~~89 0 0 0 ~~216~~89 2610,~~456~~122,~~585~~889.6616 0.00 0.00 0.00 2610,~~456~~122,~~585~~889.6616 60 Days 5131 0 010 0 5141 53,~~188~~560,~~255~~389.5738 0.00 01,044,485.0030 0.00 54,~~188~~604,~~255~~874.5768 90 Days 158 01 07 0 1516 1976,~~616,456~~894.1963 0157,500.00 0677,750.00 0.00 1,~~616~~812,~~456~~144.1963 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 ~~282~~128 01 017 0 ~~282~~146 3314,~~261~~660,~~297~~173.4217 0157,500.00 01,722,235.0030 0.00 3316,~~261~~539,~~297~~908.4247 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 52.~~511610~~283222% 0.000000% 0.000000% 0.000000% 52.~~511610~~283222% 41.~~966899~~913471% 0.000000% 0.000000% 0.000000% 41.~~966899~~913471% 60 Days 10.~~301352~~795280% 0.000000% 0.~~000000~~256542% 0.000000% 1.~~301352~~051821% 0.~~974031~~673000% 0.000000% 0.~~000000~~197433% 0.000000% 0.~~974031~~870433% 90 Days 0.~~382751~~205233% 0.~~000000~~025654% 0.~~000000~~179579% 0.000000% 0.~~382751~~410467% 0.~~303470~~184657% 0.~~000000~~029771% 0.~~000000~~128111% 0.000000% 0.~~303470~~342539% 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 73.~~195713~~283735% 0.~~000000~~025654% 0.~~000000~~436121% 0.000000% 73.~~195713~~745511% 62.~~244400~~771127% 0.~~000000~~029771% 0.~~000000~~325544% 0.000000% 63.~~244400~~126442% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 Arm Loans 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 105 0 0 0 105 1384,~~025,676~~691.9433 0.00 0.00 0.00 1384,~~025,676~~691.9433 60 Days 2 0 0 0 2 125,006.21 0.00 0.00 0.00 125,006.21 90 Days 10 0 0 0 10 ~~97,500~~0.00 0.00 0.00 0.00 ~~97,500~~0.00 120 Days 1 0 01 0 12 49,000.00 0.00 097,500.00 0.00 49146,~~000~~500.00 150 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 148 0 01 0 149 1558,~~297,183~~697.1554 0.00 097,500.00 0.00 1656,~~297,183~~197.1554 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 73.~~142857~~571429% 0.000000% 0.000000% 0.000000% 73.~~142857~~571429% 31.~~849001~~444545% 0.000000% 0.000000% 0.000000% 31.~~849001~~444545% 60 Days 1.428571% 0.000000% 0.000000% 0.000000% 1.428571% 0.~~469104~~469408% 0.000000% 0.000000% 0.000000% 0.~~469104~~469408% 90 Days 0.~~714286~~000000% 0.000000% 0.000000% 0.000000% 0.~~714286~~000000% 0.~~365883~~000000% 0.000000% 0.000000% 0.000000% 0.~~365883~~000000% 120 Days 0.714286% 0.000000% 0.~~000000~~714286% 0.000000% 01.~~714286~~428571% 0.~~183880~~183999% 0.000000% 0.~~000000~~366120% 0.000000% 0.~~183880~~550118% 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 105.~~000000~~714286% 0.000000% 0.~~000000~~714286% 0.000000% 106.~~000000~~428571% 42.~~867867~~097951% 0.000000% 0.~~000000~~366120% 0.000000% 42.~~867867~~464070% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 Fixed Loan 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 228 0 0 0 228 52,~~794~~290,~~847~~671.7522 0.00 0.00 0.00 52,~~794~~290,~~847~~671.7522 60 Days 32 0 02 0 34 1670,~~399,147~~068.5664 0.00 01,128,948.0024 0.00 1,~~399~~799,~~147~~016.5688 90 Days 51 0 03 0 54 1365,~~525,654~~310.1052 0.00 0768,600.00 0.00 1,~~525~~133,~~654~~910.1052 120 Days 2 0 0 3 0 23 ~~228,300~~0.00 0.00 0361,937.0047 0.00 ~~228~~361,~~300~~937.0047 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 3211 0 08 0 3219 83,~~947~~326,~~949~~050.4138 0.00 02,259,485.0071 0.00 85,~~947~~585,~~949~~536.4109 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 41.~~592902~~680672% 0.000000% 0.000000% 0.000000% 41.~~592902~~680672% 31.~~372659~~343763% 0.000000% 0.000000% 0.000000% 31.~~372659~~343763% 60 Days 0.~~626305~~420168% 0.000000% 0.~~000000~~420168% 0.000000% 0.~~626305~~840336% 0.~~814318~~393078% 0.000000% 0.~~000000~~662268% 0.000000% 01.~~814318~~055347% 90 Days 10.~~043841~~210084% 0.000000% 0.~~000000~~630252% 0.000000% 10.~~043841~~840336% 0.~~887946~~214300% 0.000000% 0.~~000000~~450879% 0.000000% 0.~~887946~~665179% 120 Days 0.~~417537~~000000% 0.000000% 0.~~000000~~630252% 0.000000% 0.~~417537~~630252% 0.~~132873~~000000% 0.000000% 0.~~000000~~212321% 0.000000% 0.~~132873~~212321% 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 62.~~680585~~310924% 0.000000% 01.~~000000~~680672% 0.000000% 63.~~680585~~991597% 51.~~207796~~951142% 0.000000% 01.~~000000~~325469% 0.000000% 53.~~207796~~276611%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~388~~199,~~270~~083.7189

COLLATERAL STATEMENT Collateral Description Fixed Mixed & 6 Month LIBOR Weighted Average Gross Coupon 8.~~796730~~795055% Weighted Average Net Coupon 7.~~773937~~772945% Weighted Average Pass-Through Rate 7.~~769937~~768945% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 5,~~625~~597 Number Of Loans Paid In Full 2829 Ending Scheduled Collateral Loan Count 5,~~597~~568 Beginning Scheduled Collateral Balance ~~824~~819,~~340~~394,~~813~~705.6960 Ending Scheduled Collateral Balance ~~819~~813,~~394~~912,~~705~~471.6081 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~819~~814,~~857~~419,~~269~~990.2417 Monthly P &I Constant 6,~~566~~530,~~069~~151.3075 Special Servicing Fee 0.00 Prepayment Penalties ~~58,483~~0.7500 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~819~~813,~~394~~912,~~705~~471.6081 Scheduled Principal ~~523~~524,~~149~~633.6665 Unscheduled Principal 4,~~422~~957,~~958~~600.4314 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,310,137.00 Overcollateralized Amount 3,310,137.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,~~325~~358,~~026~~284.9006

~~Libor~~Group Level Collateral Statement Group Group 1 Arm Loans Group 2 Fixed Loan Group 3 Arm Loans Collateral Description 6 Month LIBOR ARM Fixed 30 Year 6 Month LIBOR ARM Weighted Average Coupon Rate 9.~~83000%~~240884 ~~PMI~~8.897108 ~~Payment~~8.636367 ~~$333~~Weighted Average Net Rate 8.468807 7.765869 8.072981 Weighted Average Maturity 351 351 351 Beginning Loan Count 1,059 3,919 140 Loans Paid In Full 5 21 0 Ending Loan Count 1,054 3,898 140 Beginning Scheduled Balance 88,678,360.42 532,372,380.44 26,632,388.39 Ending scheduled Balance 88,229,780.12 528,720,906.59 26,611,375.45 Record Date 11/30/2002 11/30/2002 11/30/2002 Principal And Interest Constant 757,862.52 4,262,407.72 212,174.27 Scheduled Principal 74,973.81 315,262.41 20,501.71 Unscheduled Principal 373,606.49 3,336,211.44 511.23 Scheduled Interest 682,888.71 3,947,145.31 191,672.56 Servicing Fees 57,055.47 501,866.99 12,503.58 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 295.58 1,774.58 88.78 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 625,537.66 3,443,503.74 179,080.20 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 8.464807 7.761869 8.068982

Group Level Collateral Statement Group Group 14 ~~Arm Loans Group 2~~ Fixed Loan ~~Group~~Total ~~3 Arm Loans~~ Collateral Description 6Fixed ~~Month~~30 ~~LIBOR~~Year ~~ARM~~ Fixed 30Mixed ~~Year~~& 6 Month LIBOR ~~ARM~~ Weighted Average Coupon Rate ~~9.237808~~ 8.~~898374~~273023 8.~~636182~~795055 Weighted Average Net Rate 87.~~464775~~388979 7.~~765840~~772945 ~~8.072800~~ Weighted Average Maturity ~~352~~351 ~~352~~351 ~~352~~ Beginning Loan Count ~~1,065~~479 35,~~936~~597 ~~140~~ Loans Paid In Full 63 1729 0 Ending Loan Count ~~1,059~~476 35,~~919~~568 ~~140~~ Beginning Scheduled Balance 89171,~~374~~711,~~523~~576.2735 ~~534~~819,~~764~~394,~~014~~705.6560 ~~26,654,565.97~~ Ending scheduled Balance 88170,~~678~~350,~~360~~409.4265 ~~532~~813,~~372~~912,~~380~~471.4481 ~~26,632,388.39~~ Record Date 1011/3130/2002 1011/3130/2002 ~~10/31/2002~~ Principal And Interest Constant ~~762~~1,~~930~~297,707.1224 46,~~279~~530,~~250~~151.6075 ~~212,174.27~~ Scheduled Principal 74113,~~909~~895.5672 ~~313~~524,~~808~~633.8165 ~~20,346.21~~ Unscheduled Principal ~~621~~1,~~253~~247,270.2998 24,~~077~~957,~~825~~600.4014 ~~1,831.37~~ Scheduled Interest ~~688~~1,~~020~~183,811.5652 36,~~965~~005,~~441~~518.7910 ~~191,828.06~~ Servicing Fees 57126,~~574~~500.5145 ~~504~~697,~~698~~926.7749 ~~12,513.90~~ 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 ~~297~~572.9238 12,~~782~~731.5532 ~~88.85~~ 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 ~~630~~1,~~148~~056,738.1369 35,~~458~~304,~~960~~860.4729 ~~179,225.31~~ 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 87.~~460775~~384979 7.~~761840 8.068800~~768945

Group Level Collateral Statement Group Group 4 Fixed Loan Total Collateral Description Fixed 30 Year Fixed Mixed & 6 Mo Weighted Average Coupon Rate 8.281037 8.796730 Weighted Average Net Rate 7.397214 7.773937 Weighted Average Maturity 352 352 Beginning Loan Count 484 5,625 Loans Paid In Full 5 28 Ending Loan Count 479 5,597 Beginning Scheduled Balance 173,547,709.80 824,340,813.69 Ending scheduled Balance 171,711,576.35 819,394,705.60 Record Date 10/31/2002 10/31/2002 Principal And Interest Constant 1,311,714.31 6,566,069.30 Scheduled Principal 114,085.08 523,149.66 Unscheduled Principal 1,722,048.37 4,422,958.43 Scheduled Interest 1,197,629.23 6,042,919.64 Servicing Fees 127,821.22 702,608.40 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 578.51 2,747.83 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,069,229.50 5,337,563.41 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.393214 7.769937

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERT SER 2002-BC7