8-K 1 bsl02001.txt DECEMBER 8-K 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, 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 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) 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, 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 December 26, 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 as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/29/03 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 December 26, 2003 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/03 Distribution Date: 1112/2526/03 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% 0.00 0.00 0.00 I-A-4 07386HAE1 SEQ 5.59500% 5247,~~841~~560,~~818~~192.8846 ~~246~~221,~~374~~749.9840 54,~~281~~673,~~626~~958.4175 II-A 07386HAG6 SEQ 6.~~40873~~45055% 87,~~148~~239,~~386~~025.9550 4338,~~517~~913.3408 ~~909~~291,~~361~~994.4691 R-I 07386HAN1 RES 6.~~35915~~35890% 0.00 0.00 0.00 R-II 07386HAP6 RES 6.~~35915~~35890% 0.00 0.00 0.00 I-X 07386HAF8 IO 0.~~81284~~80914% 0.00 3532,~~793~~069.2215 0.00 B-1 07386HAH4 SUB 6.~~40799~~41187% 3,~~759~~583,~~643~~946.9053 2019,~~076~~149.4683 ~~175~~145,~~697~~515.3649 B-2 07386HAJ0 SUB 6.~~40799~~41187% 2,~~578~~457,~~041~~563.5334 13,~~766~~131.7131 ~~120~~99,~~478~~782.1905 B-3 07386HAK7 SUB 6.~~40799~~41187% 2,~~363~~252,~~204~~766.7339 12,~~619~~037.4903 ~~110~~91,~~438~~466.3488 B-4 07386HAQ4 SUB 6.~~40799~~41187% 1,~~933~~843,~~531~~172.1550 109,~~325~~848.0448 9074,~~358~~836.6454 B-5 07386HAR2 SUB 6.~~40799~~41187% ~~859~~819,~~347~~187.1878 4,~~588~~377.9010 4033,~~159~~260.4068 B-6 07386HAS0 SUB 6.~~40799~~41187% ~~859~~819,~~377~~216.5270 4,~~589~~377.0726 4033,~~160~~261.8186 Totals 7366,~~343~~575,~~351~~071.8420 ~~391~~355,~~651~~652.2164 65,~~768~~444,~~280~~077.6116

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 0.00 0.00 0.00 I-A-4 0.00 4742,~~560~~886,~~192~~233.4671 54,~~528~~895,~~001~~708.3915 0.00 II-A 0.00 76,~~239~~947,~~025~~030.5059 ~~952~~330,~~878~~907.8099 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 3532,~~793~~069.2215 0.00 B-1 0.00 3,~~583~~438,~~946~~431.5304 ~~195~~164,~~773~~665.8232 0.00 B-2 0.00 2,~~457~~357,~~563~~781.3428 ~~134~~112,~~244~~913.9036 0.00 B-3 0.00 2,~~252~~161,~~766~~299.3951 ~~123~~103,~~057~~503.8391 0.00 B-4 0.00 1,~~843~~768,~~172~~335.5096 ~~100~~84,~~683~~685.6802 0.00 B-5 0.00 ~~819~~785,~~187~~927.7809 4437,~~748~~637.3078 0.00 B-6 0.00 ~~819~~785,~~216~~954.7085 4437,~~749~~639.8812 0.00 Totals 0.00 6661,~~575~~130,~~071~~994.2003 75,~~159~~799,~~931~~729.8280 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 0.00 0.00 0.00 0.00 0.00 I-A-4 54,244,000.00 5247,~~841~~560,~~818~~192.8846 5044,~~664~~719.4766 54,~~230~~629,~~961~~239.9409 0.00 0.00 II-A 50,568,500.00 87,~~148~~239,~~386~~025.9550 76,~~888~~990.3105 ~~901~~285,~~473~~004.1586 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 3,~~759~~583,~~643~~946.9053 3,~~610~~385.5601 ~~172~~142,~~086~~130.8049 0.00 0.00 B-2 3,753,600.00 2,~~578~~457,~~041~~563.5334 2,~~475~~321.8115 ~~118~~97,~~002~~460.3891 0.00 0.00 B-3 3,440,800.00 2,~~363~~252,~~204~~766.7339 2,~~269~~127.5072 ~~108~~89,~~168~~339.8516 0.00 0.00 B-4 2,815,200.00 1,~~933~~843,~~531~~172.1550 1,~~856~~740.86 8873,~~501~~095.7868 0.00 0.00 B-5 1,251,200.00 ~~859~~819,~~347~~187.1878 ~~825~~773.2772 3932,~~334~~486.1397 0.00 0.00 B-6 1,251,244.31 ~~859~~819,~~377~~216.5270 ~~825~~773.3074 3932,~~335~~488.5112 0.00 0.00 Totals 312,798,644.31 7366,~~343~~575,~~351~~071.8420 7062,~~416~~831.0891 65,~~697~~381,~~864~~245.5428 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 0.00 0.00 0.00000000 0.00 I-A-4 54,~~281~~673,~~626~~958.4175 4742,~~560~~886,~~192~~233.4671 0.~~87678255~~79061710 54,~~281~~673,~~626~~958.4175 II-A ~~909~~291,~~361~~994.4691 76,~~239~~947,~~025~~030.5059 0.~~14315286~~13737862 ~~909~~291,~~361~~994.4691 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 ~~175~~145,~~697~~515.3649 3,~~583~~438,~~946~~431.5304 0.~~65472169~~62813866 ~~175~~145,~~697~~515.3649 B-2 ~~120~~99,~~478~~782.1905 2,~~457~~357,~~563~~781.3428 0.~~65472169~~62813866 ~~120~~99,~~478~~782.1905 B-3 ~~110~~91,~~438~~466.3488 2,~~252~~161,~~766~~299.3951 0.~~65472169~~62813866 ~~110~~91,~~438~~466.3488 B-4 9074,~~358~~836.6454 1,~~843~~768,~~172~~335.5096 0.~~65472169~~62813866 9074,~~358~~836.6454 B-5 4033,~~159~~260.4068 ~~819~~785,~~187~~927.7809 0.~~65472169~~62813866 4033,~~159~~260.4068 B-6 4033,~~160~~261.8186 ~~819~~785,~~216~~954.7085 0.~~65472162~~62813860 4033,~~160~~261.8186 Totals 65,~~768~~444,~~280~~077.6116 6661,~~575~~130,~~071~~994.2003 0.~~21283683~~19543241 65,~~768~~444,~~280~~077.6116

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 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 54,244,000.00 ~~974~~876.~~15048448~~78254664 0.~~93401058~~82441671 9685.~~43392707~~34103477 0.00000000 II-A 50,568,500.00 ~~161~~143.~~13562692~~15286196 0.~~15599256~~13822933 175.~~82677260~~63601570 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 ~~686~~654.~~81839605~~72168981 0.~~65958349~~61837961 3125.~~43712094~~96464925 0.00000000 B-2 3,753,600.00 ~~686~~654.~~81839567~~72169118 0.~~65958280~~61837969 3125.~~43712170~~96464994 0.00000000 B-3 3,440,800.00 ~~686~~654.~~81839398~~72168972 0.~~65958498~~61837945 3125.~~43712218~~96464776 0.00000000 B-4 2,815,200.00 ~~686~~654.~~81839656~~72168940 0.~~65958369~~61837880 3125.~~43711992~~96464905 0.00000000 B-5 1,251,200.00 ~~686~~654.~~81839834~~72169118 0.~~65958280~~61838235 3125.~~43712436~~96464994 0.00000000 B-6 1,251,244.31 ~~686~~654.~~81832407~~72161867 0.~~65958342~~61837644 3125.~~43711399~~96464954 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 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 0.00000000 9786.~~36793765~~16545148 ~~876~~790.~~78254664~~61709516 0.~~87678255~~79061710 9786.~~36793765~~16545148 II-A 0.00000000 175.~~98276516~~77424503 ~~143~~137.~~15286196~~37861693 0.~~14315286~~13737862 175.~~98276516~~77424503 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 3226.~~09670442~~58302704 ~~654~~628.~~72168981~~13866277 0.~~65472169~~62813866 3226.~~09670442~~58302704 B-2 0.00000000 3226.~~09670450~~58302696 ~~654~~628.~~72169118~~13866155 0.~~65472169~~62813866 3226.~~09670450~~58302696 B-3 0.00000000 3226.~~09670425~~58302720 ~~654~~628.~~72168972~~13866252 0.~~65472169~~62813866 3226.~~09670425~~58302720 B-4 0.00000000 3226.~~09670361~~58302785 ~~654~~628.~~72168940~~13866155 0.~~65472169~~62813866 3226.~~09670361~~58302785 B-5 0.00000000 3226.~~09670716~~58302430 ~~654~~628.~~72169118~~13865889 0.~~65472169~~62813866 3226.~~09670716~~58302430 B-6 0.00000000 3226.~~09669741~~58302598 ~~654~~628.~~72161867~~13860069 0.~~65472162~~62813860 3226.~~09669741~~58302598 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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% 0.00 0.00 0.00 0.00 I-A-4 54,244,000.00 5.59500% 5247,~~841~~560,~~818~~192.8846 ~~246~~221,~~374~~749.9840 0.00 0.00 II-A 50,568,500.00 6.~~40873~~45055% 87,~~148~~239,~~386~~025.9550 4338,~~517~~913.3408 0.00 0.00 R-I 50.00 6.~~35915~~35890% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~35915~~35890% 0.00 0.00 0.00 0.00 I-X 0.00 0.~~81284~~80914% 5247,~~841~~560,~~818~~192.8846 3532,~~793~~069.2215 0.00 0.00 B-1 5,474,000.00 6.~~40799~~41187% 3,~~759~~583,~~643~~946.9053 2019,~~076~~149.4683 0.00 0.00 B-2 3,753,600.00 6.~~40799~~41187% 2,~~578~~457,~~041~~563.5334 13,~~766~~131.7131 0.00 0.00 B-3 3,440,800.00 6.~~40799~~41187% 2,~~363~~252,~~204~~766.7339 12,~~619~~037.4903 0.00 0.00 B-4 2,815,200.00 6.~~40799~~41187% 1,~~933~~843,~~531~~172.1550 109,~~325~~848.0448 0.00 0.00 B-5 1,251,200.00 6.~~40799~~41187% ~~859~~819,~~347~~187.1878 4,~~588~~377.9010 0.00 0.00 B-6 1,251,244.31 6.~~40799~~41187% ~~859~~819,~~377~~216.5270 4,~~589~~377.0726 0.00 0.00 Totals 312,798,644.31 ~~391~~355,~~651~~652.2164 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 0.00 0.00 0.00 0.00 0.00 I-A-4 0.00 0.00 ~~246~~221,~~374~~749.9840 0.00 4742,~~560~~886,~~192~~233.4671 II-A 0.00 0.00 4338,~~517~~913.3408 0.00 76,~~239~~947,~~025~~030.5059 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 0.00 0.00 3532,~~793~~069.2215 0.00 4742,~~560~~886,~~192~~233.4671 B-1 0.00 0.00 2019,~~076~~149.4683 0.00 3,~~583~~438,~~946~~431.5304 B-2 0.00 0.00 13,~~766~~131.7131 0.00 2,~~457~~357,~~563~~781.3428 B-3 0.00 0.00 12,~~619~~037.4903 0.00 2,~~252~~161,~~766~~299.3951 B-4 0.00 0.00 109,~~325~~848.0448 0.00 1,~~843~~768,~~172~~335.5096 B-5 0.00 0.00 4,~~588~~377.9010 0.00 ~~819~~785,~~187~~927.7809 B-6 0.00 0.00 4,~~589~~377.0726 0.00 ~~819~~785,~~216~~954.7085 Totals 0.00 0.00 ~~391~~355,~~651~~652.2164 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 54,244,000.00 5.59500% ~~974~~876.~~15048448~~78254664 4.~~54197662~~08799867 0.00000000 0.00000000 II-A 50,568,500.00 6.~~40873~~45055% ~~161~~143.~~13562692~~15286196 0.~~86056221~~76951225 0.00000000 0.00000000 R-I 50.00 6.~~35915~~35890% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~35915~~35890% 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00 0.~~81284~~80914% ~~216~~194.~~34848299~~72409746 0.~~14654698~~13129964 0.00000000 0.00000000 B-1 5,474,000.00 6.~~40799~~41187% ~~686~~654.~~81839605~~72168981 3.~~66760322~~49832481 0.00000000 0.00000000 B-2 3,753,600.00 6.~~40799~~41187% ~~686~~654.~~81839567~~72169118 3.~~66760177~~49832428 0.00000000 0.00000000 B-3 3,440,800.00 6.~~40799~~41187% ~~686~~654.~~81839398~~72168972 3.~~66760346~~49832306 0.00000000 0.00000000 B-4 2,815,200.00 6.~~40799~~41187% ~~686~~654.~~81839656~~72168940 3.~~66760443~~49832339 0.00000000 0.00000000 B-5 1,251,200.00 6.~~40799~~41187% ~~686~~654.~~81839834~~72169118 3.~~66759910~~49832161 0.00000000 0.00000000 B-6 1,251,244.31 6.~~40799~~41187% ~~686~~654.~~81832407~~72161867 3.~~66760509~~49832560 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 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 0.00000000 0.00000000 4.~~54197662~~08799867 0.00000000 ~~876~~790.~~78254664~~61709516 II-A 0.00000000 0.00000000 0.~~86056221~~76951225 0.00000000 ~~143~~137.~~15286196~~37861693 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.~~14654698~~13129964 0.00000000 ~~194~~175.~~72409746~~58766524 B-1 0.00000000 0.00000000 3.~~66760322~~49832481 0.00000000 ~~654~~628.~~72168981~~13866277 B-2 0.00000000 0.00000000 3.~~66760177~~49832428 0.00000000 ~~654~~628.~~72169118~~13866155 B-3 0.00000000 0.00000000 3.~~66760346~~49832306 0.00000000 ~~654~~628.~~72168972~~13866252 B-4 0.00000000 0.00000000 3.~~66760443~~49832339 0.00000000 ~~654~~628.~~72168940~~13866155 B-5 0.00000000 0.00000000 3.~~66759910~~49832161 0.00000000 ~~654~~628.~~72169118~~13865889 B-6 0.00000000 0.00000000 3.~~66760509~~49832560 0.00000000 ~~654~~628.~~72161867~~13860069 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,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 75,~~179~~822,~~710~~749.1477 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1715,~~425~~764.0661 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 75,~~197~~838,~~135~~514.2038 Withdrawals Reimbursement for Servicer Advances 1317,~~672~~425.3906 Payment of Service Fee 2321,~~530~~359.9850 Payment of Interest and Principal 75,~~159~~799,~~931~~729.8382 Total Withdrawals (Pool Distribution Amount) 75,~~197~~838,~~135~~514.2038 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2220,~~919~~804.8071 Master Servicing Fee ~~611~~554.1879 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2321,~~530~~359.9850

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 1 184,~~647~~477.9368 0.00 0.00 184,~~647~~477.9368 30 Days 30 0 0 0 30 ~~979,890~~0.0300 0.00 0.00 0.00 ~~979,890~~0.0300 60 Days 02 0 0 0 02 0728,888.0041 0.00 0.00 0.00 0728,888.0041 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 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 1 2 3 0.00 0.00 594,032.50 1,213,418.59 1,807,451.09 Totals 32 1 1 2 76 ~~979~~728,~~890~~888.0341 184,~~647~~477.9368 594,032.50 1,213,418.59 2,~~971~~720,~~989~~817.0518 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.~~478469~~518135% 0.000000% 0.000000% 0.~~478469~~518135% 0.~~277057~~301415% 0.000000% 0.000000% 0.~~277057~~301415% 30 Days 10.~~435407~~000000% 0.000000% 0.000000% 0.000000% 10.~~435407~~000000% 10.~~470286~~000000% 0.000000% 0.000000% 0.000000% 10.~~470286~~000000% 60 Days 01.~~000000~~036269% 0.000000% 0.000000% 0.000000% 01.~~000000~~036269% 01.~~000000~~190919% 0.000000% 0.000000% 0.000000% 01.~~000000~~190919% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.~~478469~~518135% 01.~~956938~~036269% 1.~~435407~~554404% 0.000000% 0.000000% 0.~~891322~~970580% 1.~~820687~~982585% 2.~~712009~~953165% Totals 1.~~435407~~036269% 0.~~478469~~518135% 0.~~478469~~518135% 01.~~956938~~036269% 3.~~349282~~108808% 1.~~470286~~190919% 0.~~277057~~301415% 0.~~891322~~970580% 1.~~820687~~982585% 4.~~459352~~445500%

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 1 184,~~647~~477.9368 0.00 0.00 184,~~647~~477.9368 30 Days 20 0 0 0 20 ~~741,769~~0.0900 0.00 0.00 0.00 ~~741,769~~0.0900 60 Days 01 0 0 0 01 0490,767.0047 0.00 0.00 0.00 0490,767.0047 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 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 1 1 2 0.00 0.00 594,032.50 659,266.91 1,253,299.41 Totals 21 1 1 1 54 ~~741~~490,~~769~~767.0947 184,~~647~~477.9368 594,032.50 659,266.91 21,~~179~~928,~~716~~544.4356 0-29 Days 0.~~561798~~613497% 0.000000% 0.000000% 0.~~561798~~613497% 0.~~321492~~352601% 0.000000% 0.000000% 0.~~321492~~352601% 30 Days 10.~~123596~~000000% 0.000000% 0.000000% 0.000000% 10.~~123596~~000000% 10.~~291499~~000000% 0.000000% 0.000000% 0.000000% 10.~~291499~~000000% 60 Days 0.~~000000~~613497% 0.000000% 0.000000% 0.000000% 0.~~000000~~613497% 0.~~000000~~938026% 0.000000% 0.000000% 0.000000% 0.~~000000~~938026% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.~~561798~~613497% 0.~~561798~~613497% 1.~~123596~~226994% 0.000000% 0.000000% 1.~~034274~~135401% 1.~~147854~~260087% 2.~~182128~~395488% Totals 10.~~123596~~613497% 0.~~561798~~613497% 0.~~561798~~613497% 0.~~561798~~613497% 2.~~808989~~453988% 10.~~291499~~938026% 0.~~321492~~352601% 1.~~034274~~135401% 1.~~147854~~260087% 3.~~795119~~686115% 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 ~~238,120~~0.9400 0.00 0.00 0.00 ~~238,120~~0.9400 60 Days 01 0 0 0 01 0238,120.0094 0.00 0.00 0.00 0238,120.0094 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 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 1 1 0.00 0.00 0.00 554,151.68 554,151.68 Totals 1 0 0 1 2 238,120.94 0.00 0.00 554,151.68 792,272.62 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 30.~~225806~~000000% 0.000000% 0.000000% 0.000000% 30.~~225806~~000000% 20.~~585046~~000000% 0.000000% 0.000000% 0.000000% 20.~~585046~~000000% 60 Days 03.~~000000~~333333% 0.000000% 0.000000% 0.000000% 03.~~000000~~333333% 02.~~000000~~680125% 0.000000% 0.000000% 0.000000% 02.~~000000~~680125% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 3.~~225806~~333333% 3.~~225806~~333333% 0.000000% 0.000000% 0.000000% 6.~~015883~~237148% 6.~~015883~~237148% Totals 3.~~225806~~333333% 0.000000% 0.000000% 3.~~225806~~333333% 6.~~451613~~666667% 2.~~585046~~680125% 0.000000% 0.000000% 6.~~015883~~237148% 8.~~600929~~917273%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1715,~~425~~764.0661

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 272,798,644.31 87.21222079% 6661,~~575~~130,~~071~~994.2003 99100.~~99999998~~00000000% 8281.~~311918~~518819% 91.~~850648~~446199% Class IA3 122,798,644.31 39.25804876% 6661,~~575~~130,~~071~~994.2003 99100.~~99999998~~00000000% 0.000000% 0.000000% Class IA4 68,554,644.31 21.91654138% 1918,~~014~~244,~~878~~760.7432 2829.~~56155975~~84535195% 7170.~~438440~~154648% 32.~~913517~~470268% Class 2A 17,986,144.31 5.75007106% 11,~~775~~297,~~853~~729.2473 1718.~~68808208~~48118112% 1011.~~873478~~364171% 5.~~009689~~259775% Class R-I 17,986,094.31 5.75005507% 11,~~775~~297,~~853~~729.2473 1718.~~68808208~~48118112% 0.000000% 0.000000% Class R-II 17,986,044.31 5.75003909% 11,~~775~~297,~~853~~729.2473 1718.~~68808208~~48118112% 0.000000% 0.000000% Class X 17,986,044.31 5.75003909% 11,~~775~~297,~~853~~729.2473 1718.~~68808208~~48118112% 0.000000% 0.000000% Class B-1 12,512,044.31 4.00003150% 87,~~191~~859,~~906~~298.7169 12.~~30476597~~85648764% 5.~~383316~~624693% 2.~~480231~~603324% Class B-2 8,758,444.31 2.80002630% 5,~~734~~501,~~343~~517.3741 8.~~61334921~~99955497% 3.~~691417~~856933% 1.~~700730~~785137% Class B-3 5,317,644.31 1.70002153% 3,~~481~~340,~~576~~217.9890 5.~~22955052~~46403335% 3.~~383799~~535522% 1.~~559003~~636375% Class B-4 2,502,444.31 0.80001763% 1,~~638~~571,~~404~~881.4894 2.~~46098795~~57133385% 2.~~768563~~892700% 1.~~275548~~338853% Class B-5 1,251,244.31 0.40001590% ~~819~~785,~~216~~954.7085 1.~~23051569~~28568963% 1.~~230472~~285644% 0.~~566910~~595046% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~230516~~285690% 0.~~566930~~595067% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~792963~~795555% Weighted Average Net Coupon 6.~~417962~~420555% Weighted Average Pass-Through Rate 6.~~407963~~410555% Weighted Average Maturity(Stepdown Calculation ) ~~338~~337 Beginning Scheduled Collateral Loan Count ~~230~~209 Number Of Loans Paid In Full 2116 Ending Scheduled Collateral Loan Count ~~209~~193 Beginning Scheduled Collateral Balance 7366,~~343~~575,~~351~~071.8321 Ending Scheduled Collateral Balance 6661,~~575~~130,~~071~~994.2103 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2003 6661,~~646~~203,~~202~~856.5919 Monthly P &I Constant ~~485~~439,~~598~~844.2805 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 65,~~516~~258,~~673~~685.4129 Ending Scheduled Balance for Premium Loans 6661,~~575~~130,~~071~~994.2103 Scheduled Principal 7062,~~416~~831.0891 Unscheduled Principal 65,~~697~~381,~~864~~245.5427

Miscellaneous Reporting Senior Percentage Group 1 8382.~~701296~~892398% Senior Prepayment Percentage Group 1 91.~~850648~~446199% Subordinate Percentage Group 1 1617.~~298704~~107602% Subordinate Prepayment Pct Group 1 8.~~149352~~553801% Average Loss Severity Group 1 0 Senior Percentage Group 2 7978.~~792827~~691457% Senior Prepayment Percentage Group 2 89.~~896414~~345728% Subordinate Percentage Group 2 2021.~~207173~~308543% Subordinate Prepayment Pct Group 2 10.~~103586~~654272% 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.~~792838~~789143 6.~~793730~~835550 6.~~792963~~795555 Weighted Average Net Rate 6.~~417838~~414143 6.~~418730~~460549 6.~~417962~~420555 Weighted Average Maturity ~~338~~337 ~~338~~337 ~~338~~337 Beginning Loan Count ~~195~~178 3531 ~~230~~209 Loans Paid In Full 1715 41 2116 Ending Loan Count ~~178~~163 3130 ~~209~~193 Beginning Scheduled Balance 6357,~~131~~375,~~422~~819.73 10 9,~~211~~199,~~929~~252.1011 7366,~~343~~575,~~351~~071.8321 Ending scheduled Balance 5752,~~375~~259,~~819~~615.1081 98,~~199~~871,~~252~~378.1122 6661,~~575~~130,~~071~~994.2103 Record Date 1011/3130/2003 1011/3130/2003 1011/3130/2003 Principal And Interest Constant ~~417~~378,~~898~~559.0557 6761,~~700~~284.2348 ~~485~~439,~~598~~844.2805 Scheduled Principal 6053,~~530~~949.0905 98,~~885~~882.9986 7062,~~416~~831.0891 Unscheduled Principal 5,~~695~~062,~~073~~254.5424 1318,~~002,791~~991.0003 65,~~697~~381,~~864~~245.5427 Scheduled Interest ~~357~~324,~~367~~610.9652 5752,~~814~~401.2462 ~~415~~377,~~182~~012.2014 Servicing Fees 1917,~~728~~929.5794 32,~~191~~874.2377 2220,~~919~~804.8071 Master Servicing Fees ~~526~~478.0913 8576.0966 ~~611~~554.1879 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 ~~337~~306,~~113~~202.3045 5449,~~537~~450.9219 ~~391~~355,~~651~~652.2264 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~407838~~404143 6.~~408730~~450550 6.~~407963~~410555

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