-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JrsewBPhQjFkXlXIS02m/yK7rx+/rv4X66QVKxwflfQSUg2rGVwopHCgrUlvveSf v/r8H27vFBf/HSW1DsQ94g== 0001056404-02-001079.txt : 20020905 0001056404-02-001079.hdr.sgml : 20020905 20020905091043 ACCESSION NUMBER: 0001056404-02-001079 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020826 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020905 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRUCTURED ASSET SEC CORP MORT PASS THR CERT SER 2002 HF1 CENTRAL INDEX KEY: 0001174629 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-82904-10 FILM NUMBER: 02756997 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 sac02hf1.txt AUGUST 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): August 26, 2002 STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-HF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82904-10 52-2365704 Pooling and Servicing Agreement) (Commission 52-2365705 (State or other File Number) 52-2365706 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On August 26, 2002 a distribution was made to holders of STRUCTURED ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-HF1 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-HF1 Trust, relating to the August 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. STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-HF1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/29/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-HF1 Trust, relating to the August 26, 2002 distribution. EX-99.1
Structured Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 7/31/02 Distribution Date: 8/26/02 SASC Series: 2002-HF1 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 86358RL21 SEN 2.12688% 604,211,783.37 1,142,298.63 13,642,708.41 A-IO 86358RL39 SEN 6.00000% 0.00 1,281,119.13 0.00 M-1 86358RL47 MEZ 2.48688% 54,177,000.00 119,761.51 0.00 M-2 86358RL54 MEZ 2.88688% 44,502,000.00 114,197.27 0.00 M-3 86358RL62 MEZ 3.73688% 27,088,000.00 89,977.43 0.00 B 86358RL70 SUB 5.98688% 21,284,000.00 113,266.45 0.00 X SAC02HF1X SEN 0.00000% 5,805,406.00 2,648,708.01 0.00 P SAC02HF1P SEN 0.00000% 0.00 364,546.97 0.00 R SAC02H1R1 RES 0.00000% 0.00 0.00 0.00 Totals 757,068,189.37 5,873,875.40 13,642,708.41
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 590,569,074.96 14,785,007.04 0.00 A-IO 0.00 0.00 1,281,119.13 0.00 M-1 0.00 54,177,000.00 119,761.51 0.00 M-2 0.00 44,502,000.00 114,197.27 0.00 M-3 0.00 27,088,000.00 89,977.43 0.00 B 0.00 21,284,000.00 113,266.45 0.00 X 0.00 5,805,406.00 2,648,708.01 0.00 P 0.00 0.00 364,546.97 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 743,425,480.96 19,516,583.81 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 621,096,000.00 604,211,783.37 0.00 13,642,708.41 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 54,177,000.00 54,177,000.00 0.00 0.00 0.00 0.00 M-2 44,502,000.00 44,502,000.00 0.00 0.00 0.00 0.00 M-3 27,088,000.00 27,088,000.00 0.00 0.00 0.00 0.00 B 21,284,000.00 21,284,000.00 0.00 0.00 0.00 0.00 X 5,805,406.00 5,805,406.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 773,952,406.00 757,068,189.37 0.00 13,642,708.41 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 13,642,708.41 590,569,074.96 0.95084991 13,642,708.41 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 54,177,000.00 1.00000000 0.00 M-2 0.00 44,502,000.00 1.00000000 0.00 M-3 0.00 27,088,000.00 1.00000000 0.00 B 0.00 21,284,000.00 1.00000000 0.00 X 0.00 5,805,406.00 1.00000000 0.00 P 0.00 0.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 13,642,708.41 743,425,480.96 0.96055710 13,642,708.41
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 621,096,000.00 972.81544781 0.00000000 21.96553900 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 54,177,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 44,502,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 27,088,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 21,284,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 5,805,406.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 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 0.00000000 21.96553900 950.84990881 0.95084991 21.96553900 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 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 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 621,096,000.00 2.12688% 604,211,783.37 1,142,298.63 0.00 0.00 A-IO 0.00 6.00000% 256,223,826.56 1,281,119.13 0.00 0.00 M-1 54,177,000.00 2.48688% 54,177,000.00 119,761.51 0.00 0.00 M-2 44,502,000.00 2.88688% 44,502,000.00 114,197.27 0.00 0.00 M-3 27,088,000.00 3.73688% 27,088,000.00 89,977.43 0.00 0.00 B 21,284,000.00 5.98688% 21,284,000.00 113,266.45 0.00 0.00 X 5,805,406.00 0.00000% 5,805,406.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 773,952,406.00 2,860,620.42 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 0.00 0.00 1,142,298.63 0.00 590,569,074.96 A-IO 0.00 0.00 1,281,119.13 0.00 256,223,826.56 M-1 0.00 0.00 119,761.51 0.00 54,177,000.00 M-2 0.00 0.00 114,197.27 0.00 44,502,000.00 M-3 0.00 0.00 89,977.43 0.00 27,088,000.00 B 0.00 0.00 113,266.45 0.00 21,284,000.00 X 0.00 0.00 2,648,708.01 0.00 5,805,406.00 P 0.00 0.00 364,546.97 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,873,875.40 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 621,096,000.00 2.12688% 972.81544781 1.83916597 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000219 5.00000000 0.00000000 0.00000000 M-1 54,177,000.00 2.48688% 1000.00000000 2.21056002 0.00000000 0.00000000 M-2 44,502,000.00 2.88688% 1000.00000000 2.56611546 0.00000000 0.00000000 M-3 27,088,000.00 3.73688% 1000.00000000 3.32167122 0.00000000 0.00000000 B 21,284,000.00 5.98688% 1000.00000000 5.32167121 0.00000000 0.00000000 X 5,805,406.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 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 0.00000000 0.00000000 1.83916597 0.00000000 950.84990881 A-IO 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000219 M-1 0.00000000 0.00000000 2.21056002 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.56611546 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.32167122 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.32167121 0.00000000 1000.00000000 X 0.00000000 0.00000000 456.24853972 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 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 19,226,730.36 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 253,053.92 Realized Losses 0.00 Prepayment Penalties 364,546.97 Total Deposits 19,844,331.25 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 327,747.44 Payment of Interest and Principal 19,516,583.81 Total Withdrawals (Pool Distribution Amount) 19,844,331.25 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 315,445.08 Credit Risk Manager Fee 9,463.35 Trustee Fee 2,839.01 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 327,747.44
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 1,000.00 0.00 0.00 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00
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 259 0 0 0 259 27,241,366.00 0.00 0.00 0.00 27,241,366.00 60 Days 27 0 0 0 27 2,344,280.66 0.00 0.00 0.00 2,344,280.66 90 Days 1 0 0 0 1 195,478.66 0.00 0.00 0.00 195,478.66 120 Days 1 0 0 0 1 76,523.89 0.00 0.00 0.00 76,523.89 150 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 288 0 0 0 288 29,857,649.21 0.00 0.00 0.00 29,857,649.21 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 4.188905% 0.000000% 0.000000% 0.000000% 4.188905% 3.662672% 0.000000% 0.000000% 0.000000% 3.662672% 60 Days 0.436681% 0.000000% 0.000000% 0.000000% 0.436681% 0.315195% 0.000000% 0.000000% 0.000000% 0.315195% 90 Days 0.016173% 0.000000% 0.000000% 0.000000% 0.016173% 0.026283% 0.000000% 0.000000% 0.000000% 0.026283% 120 Days 0.016173% 0.000000% 0.000000% 0.000000% 0.016173% 0.010289% 0.000000% 0.000000% 0.000000% 0.010289% 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 4.657933% 0.000000% 0.000000% 0.000000% 4.657933% 4.014438% 0.000000% 0.000000% 0.000000% 4.014438%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 253,053.92
COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 9.252127% Weighted Average Net Coupon 8.752127% Weighted Average Pass-Through Rate 8.747627% Weighted Average Maturity(Stepdown Calculation ) 324 Beginning Scheduled Collateral Loan Count 6,274 Number Of Loans Paid In Full 91 Ending Scheduled Collateral Loan Count 6,183 Beginning Scheduled Collateral Balance 757,068,189.37 Ending Scheduled Collateral Balance 743,425,480.96 Ending Actual Collateral Balance at 31-Jul-2002 743,756,554.05 Monthly P &I Constant 6,330,737.09 Special Servicing Fee 0.00 Prepayment Penalties 364,546.97 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 743,425,480.96 Scheduled Principal 493,661.22 Unscheduled Principal 13,149,047.19 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 5,805,406.00 Overcollateralized Amount 5,805,406.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,648,708.01
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