8-K 1 bsl02001.txt SEPTEMBER 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): September 25, 2003 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-10 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 September 25, 2003 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2002-1 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 2002-1 Trust, relating to the September 25, 2003 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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2002-1 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: 9/24/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the September 25, 2003 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 BSL Series: 2002-1 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07386HAA9 SEQ 2.78000% 0.00 0.00 0.00 I-A-2-1 07386HAB7 SEQ 3.53000% 0.00 0.00 0.00 I-A-2-2 07386HAC5 SEQ 3.90000% 0.00 0.00 0.00 I-A-3 07386HAD3 SEQ 5.70000% 2112,~~640~~019,~~753~~171.5648 ~~102~~56,~~273~~827.8441 97,~~621~~714,~~582~~297.0803 I-A-4 07386HAE1 SEQ 5.59500% 54,244,000.00 251,~~633~~744.8865 0.00 II-A 07386HAG6 SEQ 6.~~38357~~36297% 1110,~~974~~577,~~426~~309.7061 6355,~~377~~826.5891 12,~~397~~095,~~117~~134.0980 R-I 07386HAN1 RES 6.~~35994~~36004% 0.00 0.00 0.00 R-II 07386HAP6 RES 6.~~35994~~36004% 0.00 0.00 0.00 I-X 07386HAF8 IO 0.~~80465~~81582% 0.00 5044,~~626~~840.6586 0.00 B-1 07386HAH4 SUB 6.~~42188~~41859% 4,~~427~~169,~~846~~970.1228 2322,~~576~~201.0944 ~~257~~250,~~875~~713.8428 B-2 07386HAJ0 SUB 6.~~42188~~41859% 32,~~036~~859,~~237~~408.3419 1615,~~166~~223.4684 ~~176~~171,~~829~~917.1568 B-3 07386HAK7 SUB 6.~~42188~~41859% 2,~~783~~621,~~217~~124.5618 1413,~~819~~955.2619 ~~162~~157,~~093~~591.3920 B-4 07386HAQ4 SUB 6.~~42188~~41859% 2,~~277~~144,~~178~~556.0114 1211,~~124~~417.8588 ~~132~~128,~~621~~938.8626 B-5 07386HAR2 SUB 6.~~42188~~41859% 1953,~~012,079~~136.1106 5,~~388~~074.8261 5857,~~943~~305.0589 B-6 07386HAS0 SUB 6.~~42188~~41859% 1953,~~012,114~~169.8572 5,~~389~~074.0179 5857,~~945~~307.1392 Totals ~~102~~90,~~407~~541,~~853~~845.2566 ~~545~~482,~~376~~187.4458 1110,~~866~~633,~~007~~206.5906

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-2-1 0.00 0.00 0.00 0.00 I-A-2-2 0.00 0.00 0.00 0.00 I-A-3 0.00 124,~~019~~304,~~171~~874.4845 97,~~723~~771,~~855~~124.9244 0.00 I-A-4 0.00 54,244,000.00 251,~~633~~744.8865 0.00 II-A 0.00 108,~~577~~482,~~309~~174.6182 12,~~460~~150,~~494~~961.6771 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 I-X 0.00 0.00 5044,~~626~~840.6586 0.00 B-1 0.00 43,~~169~~919,~~970~~257.2800 ~~281~~272,~~451~~914.9372 0.00 B-2 0.00 2,~~859~~687,~~408~~490.1951 ~~192~~187,~~995~~141.6152 0.00 B-3 0.00 2,~~621~~463,~~124~~532.1897 ~~176~~171,~~912~~546.6539 0.00 B-4 0.00 2,~~144~~015,~~556~~617.1489 ~~144~~140,~~746~~356.7114 0.00 B-5 0.00 ~~953~~895,~~136~~830.0617 6462,~~331~~380.8750 0.00 B-6 0.00 ~~953~~895,~~169~~861.7280 6462,~~334~~382.1471 0.00 Totals 0.00 9079,~~541~~908,~~845~~639.6661 1211,~~411~~115,~~384~~393.0364 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 40,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-2-1 50,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-2-2 12,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-3 88,000,000.00 2112,~~640~~019,~~753~~171.5648 6961,~~122~~691.5443 97,~~552~~652,~~459~~605.5460 0.00 0.00 I-A-4 54,244,000.00 54,244,000.00 0.00 0.00 0.00 0.00 II-A 50,568,500.00 1110,~~974~~577,~~426~~309.7061 1110,~~478~~239.6456 12,~~385~~084,~~638~~895.4623 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 5,474,000.00 4,~~427~~169,~~846~~970.1228 43,~~068~~908.6931 ~~253~~246,~~807~~804.1597 0.00 0.00 B-2 3,753,600.00 32,~~036~~859,~~237~~408.3419 2,~~789~~679.9699 ~~174~~169,~~039~~237.1969 0.00 0.00 B-3 3,440,800.00 2,~~783~~621,~~217~~124.5618 2,~~557~~456.4665 ~~159~~155,~~535~~134.9255 0.00 0.00 B-4 2,815,200.00 2,~~277~~144,~~178~~556.0114 2,~~092~~009.4799 ~~130~~126,~~529~~928.3927 0.00 0.00 B-5 1,251,200.00 1953,~~012,079~~136.1106 ~~929~~893.9933 5856,~~013~~412.0656 0.00 0.00 B-6 1,251,244.31 1953,~~012,114~~169.8572 ~~930~~893.0236 5856,~~015~~414.1156 0.00 0.00 Totals 312,798,644.31 ~~102~~90,~~407~~541,~~853~~845.2566 9384,~~969~~772.7762 1110,~~772~~548,~~037~~433.8243 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-2-1 0.00 0.00 0.00000000 0.00 I-A-2-2 0.00 0.00 0.00000000 0.00 I-A-3 97,~~621~~714,~~582~~297.0803 124,~~019~~304,~~171~~874.4845 0.~~13658149~~04891903 97,~~621~~714,~~582~~297.0803 I-A-4 0.00 54,244,000.00 1.00000000 0.00 II-A 12,~~397~~095,~~117~~134.0980 108,~~577~~482,~~309~~174.6182 0.~~20916795~~16773633 12,~~397~~095,~~117~~134.0980 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 I-X 0.00 0.00 0.00000000 0.00 B-1 ~~257~~250,~~875~~713.8428 43,~~169~~919,~~970~~257.2800 0.~~76177754~~71597680 ~~257~~250,~~875~~713.8428 B-2 ~~176~~171,~~829~~917.1568 2,~~859~~687,~~408~~490.1951 0.~~76177754~~71597680 ~~176~~171,~~829~~917.1568 B-3 ~~162~~157,~~093~~591.3920 2,~~621~~463,~~124~~532.1897 0.~~76177755~~71597680 ~~162~~157,~~093~~591.3920 B-4 ~~132~~128,~~621~~938.8626 2,~~144~~015,~~556~~617.1489 0.~~76177754~~71597680 ~~132~~128,~~621~~938.8626 B-5 5857,~~943~~305.0589 ~~953~~895,~~136~~830.0617 0.~~76177754~~71597680 5857,~~943~~305.0589 B-6 5857,~~945~~307.1392 ~~953~~895,~~169~~861.7280 0.~~76177747~~71597672 5857,~~945~~307.1392 Totals 1110,~~866~~633,~~007~~206.5906 9079,~~541~~908,~~845~~639.6661 0.~~28945728~~25546351 1110,~~866~~633,~~007~~206.5906

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 40,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 50,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 12,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 88,000,000.00 ~~245~~136.~~91765409~~58149409 0.~~78548341~~70103898 ~~108~~86.~~55067659~~96142727 0.00000000 I-A-4 54,244,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A 50,568,500.00 ~~236~~209.~~79616164~~16795258 0.~~22699190~~20248890 2741.~~40121736~~22912940 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,474,000.00 ~~808~~761.~~88675923~~77754476 0.~~74327548~~71397698 4645.~~36593898~~08676836 0.00000000 B-2 3,753,600.00 ~~808~~761.~~88675938~~77754422 0.~~74327579~~71397858 4645.~~36593936~~08676737 0.00000000 B-3 3,440,800.00 ~~808~~761.~~88675889~~77754592 0.~~74327482~~71397640 4645.~~36593815~~08676761 0.00000000 B-4 2,815,200.00 ~~808~~761.~~88676115~~77754334 0.~~74327579~~71397769 4645.~~36593848~~08676826 0.00000000 B-5 1,251,200.00 ~~808~~761.~~88675671~~77754156 0.~~74327845~~71397858 4645.~~36593670~~08676471 0.00000000 B-6 1,251,244.31 ~~808~~761.~~88667538~~77746614 0.~~74327611~~71397727 4645.~~36593312~~08676647 0.00000000 2) All Senior Certificates are per $1,000 denomination, all Subordinate Classes are $25,000 denomination.

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-2-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.00000000 ~~109~~87.~~33616000~~66246625 ~~136~~48.~~58149409~~91902784 0.~~13658149~~04891903 ~~109~~87.~~33616000~~66246625 I-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A 0.00000000 2741.~~62820906~~43161850 ~~209~~167.~~16795258~~73633428 0.~~20916795~~16773633 2741.~~62820906~~43161850 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4745.~~10921447~~80074534 ~~761~~715.~~77754476~~97679942 0.~~76177754~~71597680 4745.~~10921447~~80074534 B-2 0.00000000 4745.~~10921515~~80074595 ~~761~~715.~~77754422~~97679827 0.~~76177754~~71597680 4745.~~10921515~~80074595 B-3 0.00000000 4745.~~10921588~~80074401 ~~761~~715.~~77754592~~97679900 0.~~76177755~~71597680 4745.~~10921588~~80074401 B-4 0.00000000 4745.~~10921427~~80074595 ~~761~~715.~~77754334~~97680094 0.~~76177754~~71597680 4745.~~10921427~~80074595 B-5 0.00000000 4745.~~10921515~~80074329 ~~761~~715.~~77754156~~97679827 0.~~76177754~~71597680 4745.~~10921515~~80074329 B-6 0.00000000 4745.~~10920923~~80074374 ~~761~~715.~~77746614~~97672240 0.~~76177747~~71597672 4745.~~10920923~~80074374 (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 40,000,000.00 2.78000% 0.00 0.00 0.00 0.00 I-A-2-1 50,000,000.00 3.53000% 0.00 0.00 0.00 0.00 I-A-2-2 12,000,000.00 3.90000% 0.00 0.00 0.00 0.00 I-A-3 88,000,000.00 5.70000% 2112,~~640~~019,~~753~~171.5648 ~~102~~57,~~793~~091.5806 0.00 0.00 I-A-4 54,244,000.00 5.59500% 54,244,000.00 252,912.65 0.00 0.00 II-A 50,568,500.00 6.~~38357~~36297% 1110,~~974~~577,~~426~~309.7061 6356,~~699~~085.6693 0.00 0.00 R-I 50.00 6.~~35994~~36004% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~35994~~36004% 0.00 0.00 0.00 0.00 I-X 0.00 0.~~80465~~81582% 7566,~~884~~263,~~753~~171.5648 5045,~~883~~048.9390 0.00 0.00 B-1 5,474,000.00 6.~~42188~~41859% 4,~~427~~169,~~846~~970.1228 2322,~~695~~304.9145 0.00 0.00 B-2 3,753,600.00 6.~~42188~~41859% 32,~~036~~859,~~237~~408.3419 1615,~~248~~294.6248 0.00 0.00 B-3 3,440,800.00 6.~~42188~~41859% 2,~~783~~621,~~217~~124.5618 14,~~894~~019.5794 0.00 0.00 B-4 2,815,200.00 6.~~42188~~41859% 2,~~277~~144,~~178~~556.0114 1211,~~186~~470.4786 0.00 0.00 B-5 1,251,200.00 6.~~42188~~41859% 1953,~~012,079~~136.1106 5,~~416~~098.2116 0.00 0.00 B-6 1,251,244.31 6.~~42188~~41859% 1953,~~012,114~~169.8572 5,~~416~~098.4034 0.00 0.00 Totals 312,798,644.31 ~~548~~484,~~148~~424.0077 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-2-1 0.00 0.00 0.00 0.00 0.00 I-A-2-2 0.00 0.00 0.00 0.00 0.00 I-A-3 ~~519~~263.7466 0.00 ~~102~~56,~~273~~827.8441 0.00 124,~~019~~304,~~171~~874.4845 I-A-4 1,~~278~~168.7700 0.00 251,~~633~~744.8865 0.00 54,244,000.00 II-A ~~322~~259.0801 0.00 6355,~~377~~826.5891 0.00 108,~~577~~482,~~309~~174.6182 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 I-X ~~257~~208.2804 0.00 5044,~~626~~840.6586 0.00 6658,~~263~~548,~~171~~874.4845 B-1 ~~119~~103.8101 0.00 2322,~~576~~201.0944 0.00 43,~~169~~919,~~970~~257.2800 B-2 8270.1663 0.00 1615,~~166~~223.4684 0.00 2,~~859~~687,~~408~~490.1951 B-3 7564.3175 0.00 1413,~~819~~955.2619 0.00 2,~~621~~463,~~124~~532.1897 B-4 6152.6297 0.00 1211,~~124~~417.8588 0.00 2,~~144~~015,~~556~~617.1489 B-5 2723.3954 0.00 5,~~388~~074.8261 0.00 ~~953~~895,~~136~~830.0617 B-6 2723.3955 0.00 5,~~389~~074.0179 0.00 ~~953~~895,~~169~~861.7280 Totals 2,~~771~~237.5516 0.00 ~~545~~482,~~376~~187.4458 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 40,000,000.00 2.78000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 50,000,000.00 3.53000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 12,000,000.00 3.90000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 88,000,000.00 5.70000% ~~245~~136.~~91765409~~58149409 10.~~16810886~~64876205 0.00000000 0.00000000 I-A-4 54,244,000.00 5.59500% 1000.00000000 4.66250000 0.00000000 0.00000000 II-A 50,568,500.00 6.~~38357~~36297% ~~236~~209.~~79616164~~16795258 1.~~25967074~~10910804 0.00000000 0.00000000 R-I 50.00 6.~~35994~~36004% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~35994~~36004% 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00 0.~~80465~~81582% ~~310~~271.~~69239596~~29907584 0.~~20833236~~18444220 0.00000000 0.00000000 B-1 5,474,000.00 6.~~42188~~41859% ~~808~~761.~~88675923~~77754476 4.~~32881074~~07461637 0.00000000 0.00000000 B-2 3,753,600.00 6.~~42188~~41859% ~~808~~761.~~88675938~~77754422 4.~~32880968~~07461637 0.00000000 0.00000000 B-3 3,440,800.00 6.~~42188~~41859% ~~808~~761.~~88675889~~77754592 4.~~32881016~~07461637 0.00000000 0.00000000 B-4 2,815,200.00 6.~~42188~~41859% ~~808~~761.~~88676115~~77754334 4.~~32881145~~07461637 0.00000000 0.00000000 B-5 1,251,200.00 6.~~42188~~41859% ~~808~~761.~~88675671~~77754156 4.~~32881234~~07461637 0.00000000 0.00000000 B-6 1,251,244.31 6.~~42188~~41859% ~~808~~761.~~88667538~~77746614 4.~~32881089~~07461593 0.00000000 0.00000000 5) All Senior Certificates are per $1,000 denomination, all Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.~~00590614~~00299614 0.00000000 10.~~16220273~~64576602 0.00000000 ~~136~~48.~~58149409~~91902784 I-A-4 0.~~02357440~~02153234 0.00000000 4.~~63892560~~64096766 0.00000000 1000.00000000 II-A 0.~~00636918~~00512196 0.00000000 1.~~25330156~~10398588 0.00000000 ~~209~~167.~~16795258~~73633428 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.~~00105337~~00085177 0.00000000 0.~~20727899~~18359043 0.00000000 ~~271~~239.~~29907584~~71468879 B-1 0.~~02188710~~01881805 0.00000000 4.~~30692181~~05579832 0.00000000 ~~761~~715.~~77754476~~97679942 B-2 0.~~02188832~~01881660 0.00000000 4.~~30692136~~05579710 0.00000000 ~~761~~715.~~77754422~~97679827 B-3 0.~~02188735~~01881830 0.00000000 4.~~30692281~~05579807 0.00000000 ~~761~~715.~~77754592~~97679900 B-4 0.~~02188832~~01881571 0.00000000 4.~~30692313~~05579710 0.00000000 ~~761~~715.~~77754334~~97680094 B-5 0.~~02189098~~01881394 0.00000000 4.~~30692136~~05579444 0.00000000 ~~761~~715.~~77754156~~97679827 B-6 0.~~02189021~~01882126 0.00000000 4.~~30692068~~05579467 0.00000000 ~~761~~715.~~77746614~~97672240 (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 1211,~~435~~150,~~512~~899.01 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2216,~~598~~141.4897 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1211,~~458~~167,~~110~~040.4998 Withdrawals Reimbursement for Servicer Advances 1322,~~870~~598.6148 Payment of Service Fee 3229,~~855~~048.8584 Payment of Interest and Principal 1211,~~411~~115,~~384~~393.0366 Total Withdrawals (Pool Distribution Amount) 1211,~~458~~167,~~110~~040.4998 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 2,~~771~~237.5316 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 2,~~771~~237.5516

SERVICING FEES Gross Servicing Fee 3228,~~002~~294.4533 Master Servicing Fee ~~853~~754.4051 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3229,~~855~~048.8584

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 1 0 0 1 ~~185~~184,~~318~~985.9643 0.00 0.00 ~~185~~184,~~318~~985.9643 30 Days 20 0 0 0 20 ~~868,898~~0.0200 0.00 0.00 0.00 ~~868,898~~0.0200 60 Days 01 0 0 0 01 0339,900.0006 0.00 0.00 0.00 0339,900.0006 90 Days 10 0 0 0 10 ~~493,287~~0.9000 0.00 0.00 0.00 ~~493,287~~0.9000 120 Days 0 0 10 0 10 0.00 0.00 ~~438,348~~0.7600 0.00 ~~438,348~~0.7600 150 Days 1 0 0 0 1 1438,348.76 0.00 0.00 0.00 ~~554~~438,~~151~~348.6876 ~~554,151.68~~ 180+ Days 0 0 2 01 23 0.00 0.00 1,253,299.41 0554,151.0068 1,~~253~~807,~~299~~451.4109 Totals 32 1 32 1 86 1778,~~362,185~~248.9282 ~~185~~184,~~318~~985.9643 1,~~691~~253,~~648~~299.1741 554,151.68 32,~~793~~770,~~304~~685.7334 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.~~357143~~401606% 0.000000% 0.000000% 0.~~357143~~401606% 0.~~204474~~231256% 0.000000% 0.000000% 0.~~204474~~231256% 30 Days 0.~~714286~~000000% 0.000000% 0.000000% 0.000000% 0.~~714286~~000000% 0.~~958710~~000000% 0.000000% 0.000000% 0.000000% 0.~~958710~~000000% 60 Days 0.~~000000~~401606% 0.000000% 0.000000% 0.000000% 0.~~000000~~401606% 0.~~000000~~424919% 0.000000% 0.000000% 0.000000% 0.~~000000~~424919% 90 Days 0.~~357143~~000000% 0.000000% 0.000000% 0.000000% 0.~~357143~~000000% 0.~~544276~~000000% 0.000000% 0.000000% 0.000000% 0.~~544276~~000000% 120 Days 0.000000% 0.000000% 0.~~357143~~000000% 0.000000% 0.~~357143~~000000% 0.000000% 0.000000% 0.~~483658~~000000% 0.000000% 0.~~483658~~000000% 150 Days 0.~~000000~~401606% 0.000000% 0.000000% 0.~~357143~~000000% 0.~~357143~~401606% 0.~~000000~~547992% 0.000000% 0.000000% 0.~~611431~~000000% 0.~~611431~~547992% 180+ Days 0.000000% 0.000000% 0.~~714286~~803213% 0.~~000000~~401606% 01.~~714286~~204819% 0.000000% 0.000000% 1.~~382844~~566785% 0.~~000000~~692761% 12.~~382844~~259546% Totals 10.~~071429~~803213% 0.~~357143~~401606% 10.~~071429~~803213% 0.~~357143~~401606% 2.~~857143~~409639% 10.~~502986~~972911% 0.~~204474~~231256% 1.~~866502~~566785% 0.~~611431~~692761% 43.~~185392~~463713%

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 1 0 0 1 ~~185~~184,~~318~~985.9643 0.00 0.00 ~~185~~184,~~318~~985.9643 30 Days 10 0 0 0 10 ~~528,997~~0.9600 0.00 0.00 0.00 ~~528,997~~0.9600 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~493,287~~0.9000 0.00 0.00 0.00 ~~493,287~~0.9000 120 Days 0 0 10 0 10 0.00 0.00 ~~438,348~~0.7600 0.00 ~~438,348~~0.7600 150 Days 01 0 0 0 01 0438,348.0076 0.00 0.00 0.00 0438,348.0076 180 Days 0 0 2 0 2 0.00 0.00 1,253,299.41 0.00 1,253,299.41 Totals 21 1 32 0 64 1438,~~022,285~~348.8676 ~~185~~184,~~318~~985.9643 1,~~691~~253,~~648~~299.1741 0.00 21,~~899~~876,~~252~~633.9960 0-29 Days 0.~~421941~~469484% 0.000000% 0.000000% 0.~~421941~~469484% 0.~~238410~~266570% 0.000000% 0.000000% 0.~~238410~~266570% 30 Days 0.~~421941~~000000% 0.000000% 0.000000% 0.000000% 0.~~421941~~000000% 0.~~680549~~000000% 0.000000% 0.000000% 0.000000% 0.~~680549~~000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.~~421941~~000000% 0.000000% 0.000000% 0.000000% 0.~~421941~~000000% 0.~~634608~~000000% 0.000000% 0.000000% 0.000000% 0.~~634608~~000000% 120 Days 0.000000% 0.000000% 0.~~421941~~000000% 0.000000% 0.~~421941~~000000% 0.000000% 0.000000% 0.~~563930~~000000% 0.000000% 0.~~563930~~000000% 150 Days 0.~~000000~~469484% 0.000000% 0.000000% 0.000000% 0.~~000000~~469484% 0.~~000000~~631674% 0.000000% 0.000000% 0.000000% 0.~~000000~~631674% 180 Days 0.000000% 0.000000% 0.~~843882~~938967% 0.000000% 0.~~843882~~938967% 0.000000% 0.000000% 1.~~612352~~806042% 0.000000% 1.~~612352~~806042% Totals 0.~~843882~~469484% 0.~~421941~~469484% 10.~~265823~~938967% 0.000000% 21.~~531646~~877934% 10.~~315157~~631674% 0.~~238410~~266570% 21.~~176282~~806042% 0.000000% 32.~~729849~~704286% 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 10 0 0 0 10 ~~339,900~~0.0600 0.00 0.00 0.00 ~~339,900~~0.0600 60 Days 01 0 0 0 01 0339,900.0006 0.00 0.00 0.00 0339,900.0006 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 10 10 0.00 0.00 0.00 ~~554,151~~0.6800 ~~554,151~~0.6800 180 Days 0 0 0 01 01 0.00 0.00 0.00 0554,151.0068 0554,151.0068 Totals 1 0 0 1 2 339,900.06 0.00 0.00 554,151.68 894,051.74 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~325581~~000000% 0.000000% 0.000000% 0.000000% 20.~~325581~~000000% 20.~~634704~~000000% 0.000000% 0.000000% 0.000000% 20.~~634704~~000000% 60 Days 02.~~000000~~777778% 0.000000% 0.000000% 0.000000% 02.~~000000~~777778% 03.~~000000~~207518% 0.000000% 0.000000% 0.000000% 03.~~000000~~207518% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 20.~~325581~~000000% 20.~~325581~~000000% 0.000000% 0.000000% 0.000000% 40.~~295455~~000000% 40.~~295455~~000000% 180 Days 0.000000% 0.000000% 0.000000% 02.~~000000~~777778% 02.~~000000~~777778% 0.000000% 0.000000% 0.000000% 05.~~000000~~229336% 05.~~000000~~229336% Totals 2.~~325581~~777778% 0.000000% 0.000000% 2.~~325581~~777778% 45.~~651163~~555556% 23.~~634704~~207518% 0.000000% 0.000000% 45.~~295455~~229336% 68.~~930159~~436855%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2216,~~598~~141.4897

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 272,798,644.31 87.21222079% 9079,~~541~~908,~~845~~639.6661 99100.~~99999999~~00000000% 8483.~~867368~~884608% 9392.~~119205~~664728% Class IA3 122,798,644.31 39.25804876% 7875,~~522~~603,~~674~~765.1816 8694.~~72528553~~61275468% 135.~~274714~~387245% 62.~~036001~~452122% Class IA4 68,554,644.31 21.91654138% 2421,~~278~~359,~~674~~765.1816 26.~~81486555~~73023251% 5967.~~910420~~882522% 2730.~~241217~~898210% Class 2A 17,986,144.31 5.75007106% 1312,~~701~~877,~~364~~590.5734 1516.~~13263229~~11539178% 1110.~~682233~~614841% 54.~~311902~~831576% Class R-I 17,986,094.31 5.75005507% 1312,~~701~~877,~~364~~590.5734 1516.~~13263229~~11539178% 0.000000% 0.000000% Class R-II 17,986,044.31 5.75003909% 1312,~~701~~877,~~364~~590.5734 1516.~~13263229~~11539178% 0.000000% 0.000000% Class X 17,986,044.31 5.75003909% 1312,~~701~~877,~~364~~590.5734 1516.~~13263229~~11539178% 0.000000% 0.000000% Class B-1 12,512,044.31 4.00003150% 98,~~531~~958,~~394~~333.2934 1011.~~52705986~~21071937% 4.~~605572~~904672% 2.~~094150~~232469% Class B-2 8,758,444.31 2.80002630% 6,~~671~~270,~~986~~842.1083 7.~~36895305~~84751544% 3.~~158107~~363204% 1.~~435988~~530836% Class B-3 5,317,644.31 1.70002153% 43,~~050~~807,~~861~~309.9286 4.~~47402181~~76457850% 23.~~894931~~082937% 1.~~316323~~403266% Class B-4 2,502,444.31 0.80001763% 1,~~906~~791,~~305~~691.7897 2.~~10544171~~24217554% 2.~~368580~~522403% 1.~~076991~~148127% Class B-5 1,251,244.31 0.40001590% ~~953~~895,~~169~~861.7280 1.~~05273944~~12110756% 1.~~052702~~121068% 0.~~478663~~510279% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~052739~~121108% 0.~~478680~~510297% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~808116~~805343% Weighted Average Net Coupon 6.~~433117~~430343% Weighted Average Pass-Through Rate 6.~~423116~~420343% Weighted Average Maturity(Stepdown Calculation ) ~~341~~340 Beginning Scheduled Collateral Loan Count ~~319~~280 Number Of Loans Paid In Full 3931 Ending Scheduled Collateral Loan Count ~~280~~249 Beginning Scheduled Collateral Balance ~~102~~90,~~407~~541,~~853~~845.2667 Ending Scheduled Collateral Balance 9079,~~541~~908,~~845~~639.6761 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 9079,~~631~~991,~~995~~776.37 Monthly P &I Constant ~~674~~598,~~973~~246.6022 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1110,~~488~~220,~~988~~570.9837 Ending Scheduled Balance for Premium Loans 9079,~~541~~908,~~845~~639.6761 Scheduled Principal 9384,~~969~~772.7762 Unscheduled Principal 1110,~~772~~548,~~037~~433.8244

Miscellaneous Reporting Senior Percentage Group 1 8685.~~238409~~329456% Senior Prepayment Percentage Group 1 9392.~~119205~~664728% Subordinate Percentage Group 1 1314.~~761591~~670544% Subordinate Prepayment Pct. Group 1 67.~~880795~~335272% Average Loss Severity Group 1 0 Senior Percentage Group 2 8382.~~076673~~082690% Senior Prepayment Percentage Group 2 91.~~538337~~041345% Subordinate Percentage Group 2 1617.~~923327~~917310% Subordinate Prepayment Pct. Group 2 8.~~461663~~958655% Average Loss Severity Group 2 0

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~814594~~814863 6.~~768570~~747971 6.~~808116~~805343 Weighted Average Net Rate 6.~~439594~~439863 6.~~393570~~372971 6.~~433117~~430343 Weighted Average Maturity ~~341~~340 ~~341~~340 ~~341~~340 Beginning Loan Count ~~270~~237 4943 ~~319~~280 Loans Paid In Full 3324 67 3931 Ending Loan Count ~~237~~213 4336 ~~280~~249 Beginning Scheduled Balance 8777,~~994~~655,~~148~~682.1220 1412,~~413~~886,~~705~~163.1447 ~~102~~90,~~407~~541,~~853~~845.2667 Ending scheduled Balance 7769,~~655~~325,~~682~~004.2003 1210,~~886~~583,~~163~~635.4758 9079,~~541~~908,~~845~~639.6761 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~579~~513,~~856~~308.5465 9584,~~117~~937.0657 ~~674~~598,~~973~~246.6022 Scheduled Principal 8072,~~152~~297.8593 1312,~~816~~474.9269 9384,~~969~~772.7762 Unscheduled Principal 108,258,~~313~~380.0724 12,~~513~~290,~~724~~053.7520 1110,~~772~~548,~~037~~433.8244 Scheduled Interest ~~499~~441,~~703~~010.6972 8172,~~300~~462.1488 ~~581~~513,~~003~~473.8360 Servicing Fees 2724,~~498~~267.1740 4,~~504~~026.2893 3228,~~002~~294.4533 Master Servicing Fees ~~733~~647.2913 ~~120~~107.1138 ~~853~~754.4051 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 ~~471~~416,~~472~~096.2319 7668,~~675~~328.7557 ~~548~~484,~~147~~424.9876 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 6.~~429594~~429863 6.~~383570~~362971 6.~~423116~~420343

Filing Compare · BEAR STEARNS ALT A TR MORTGAGE PASS THR CERT SERIES 2002-1