-----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, O+m28ozEfquu6EPFra+/zfadR2jgVsktJF7d4VGP/PXh7Q+JDa5XH4GbP+q8UZ8R a2l+AXzrWQeldSU0XV6grg== 0001056404-04-001435.txt : 20040413 0001056404-04-001435.hdr.sgml : 20040413 20040413143812 ACCESSION NUMBER: 0001056404-04-001435 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040412 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040413 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAR STEARNS ASSET BACKED CERT SERS 2002-2 CENTRAL INDEX KEY: 0001178990 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-56242-13 FILM NUMBER: 04730401 BUSINESS ADDRESS: STREET 1: 245 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10167 8-K/A 1 bsa02002_dec.txt DECEMBER 8KA UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K/A Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 26, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-13 51-0423835 Pooling and Servicing Agreement) (Commission 51-0423846 (State or other File Number) 51-0423843 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 Subsequent to filing the 8-K relating to the payment date on December 26, 2002, a revision was made to the BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset- Backed Certificates, Series 2002-2 which was not included in the original 8-K filed. This revision was not previously disclosed in a 1934 Act filing. An amended 8-K will be filed. The revised data has been and will continue to be available on the Wells Fargo Bank, Minnesota, as Securities Administrator, website at www.ctslink.com. 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 Amended monthly report distributed to holders of Asset-Backed Certificates, Series 2002-2 Trust, relating to the December 26, 2002 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-2 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: 11/14/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Amended monthly report distributed to holders of Asset-Backed Certificates, Series 2002-2 Trust, relating to the December 26, 2002 distribution. EX-99.1
Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 11/30/02 Distribution Date: 12/26/02 BSA Series: 2002-2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-IO 07384YEP7 IO 5.00000% 0.00 162,500.00 0.00 A-1 07384YEM4 SEN 1.71000% 250,826,914.09 369,342.63 10,557,367.18 A-2 07384YEN2 SEN 1.98000% 33,003,697.34 56,271.30 1,389,133.83 M-1 07384YEQ5 MEZ 2.18000% 18,510,000.00 34,747.38 0.00 M-2 07384YER3 MEZ 2.88000% 16,562,000.00 41,073.76 0.00 B 07384YES1 SUB 3.63000% 19,484,000.00 60,903.74 0.00 B-IO 07384YEV4 IO 0.00000% 0.00 1,489,209.59 0.00 OC BSA0202OC OC 0.00000% 1,948,441.58 0.00 0.00 R-1 07384YET9 RES 0.00000% 0.00 0.00 0.00 R-2 07384YEU6 RES 0.00000% 0.00 0.00 0.00 R-3 07384YEW2 RES 0.00000% 0.00 0.00 0.00 Totals 340,335,053.01 2,214,048.40 11,946,501.01
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 162,500.00 0.00 A-1 0.00 240,269,546.91 10,926,709.81 0.00 A-2 0.00 31,614,563.51 1,445,405.13 0.00 M-1 0.00 18,510,000.00 34,747.38 0.00 M-2 0.00 16,562,000.00 41,073.76 0.00 B 0.00 19,484,000.00 60,903.74 0.00 B-IO 0.00 0.00 1,489,209.59 0.00 OC 0.00 1,948,441.58 0.00 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 0.00 328,388,552.00 14,160,549.41 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-1 296,163,000.00 250,826,914.09 0.00 10,557,367.18 0.00 0.00 A-2 38,969,000.00 33,003,697.34 0.00 1,389,133.83 0.00 0.00 M-1 18,510,000.00 18,510,000.00 0.00 0.00 0.00 0.00 M-2 16,562,000.00 16,562,000.00 0.00 0.00 0.00 0.00 B 19,484,000.00 19,484,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 315.60 1,948,441.58 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 389,688,465.60 340,335,053.01 0.00 11,946,501.01 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-IO 0.00 0.00 0.00000000 0.00 A-1 10,557,367.18 240,269,546.91 0.81127469 10,557,367.18 A-2 1,389,133.83 31,614,563.51 0.81127469 1,389,133.83 M-1 0.00 18,510,000.00 1.00000000 0.00 M-2 0.00 16,562,000.00 1.00000000 0.00 B 0.00 19,484,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 1,948,441.58 6,173.76926489 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 11,946,501.01 328,388,552.00 0.84269508 11,946,501.01
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 296,163,000.00 846.92184402 0.00000000 35.64715099 0.00000000 A-2 38,969,000.00 846.92184403 0.00000000 35.64715107 0.00000000 M-1 18,510,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,562,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 19,484,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 315.60 6173769.26489227 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 35.64715099 811.27469302 0.81127469 35.64715099 A-2 0.00000000 35.64715107 811.27469296 0.81127469 35.64715107 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 6,173,769.26489227 6173.76926489 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, 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 A-IO 0.00 5.00000% 39,000,000.00 162,500.00 0.00 0.00 A-1 296,163,000.00 1.71000% 250,826,914.09 369,342.63 0.00 0.00 A-2 38,969,000.00 1.98000% 33,003,697.34 56,271.30 0.00 0.00 M-1 18,510,000.00 2.18000% 18,510,000.00 34,747.38 0.00 0.00 M-2 16,562,000.00 2.88000% 16,562,000.00 41,073.76 0.00 0.00 B 19,484,000.00 3.63000% 19,484,000.00 60,903.74 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 315.60 0.00000% 1,948,441.58 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 389,688,465.60 724,838.81 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-IO 0.00 0.00 162,500.00 0.00 39,000,000.00 A-1 0.00 0.00 369,342.63 0.00 240,269,546.91 A-2 0.00 0.00 56,271.30 0.00 31,614,563.51 M-1 0.00 0.00 34,747.38 0.00 18,510,000.00 M-2 0.00 0.00 41,073.76 0.00 16,562,000.00 B 0.00 0.00 60,903.74 0.00 19,484,000.00 B-IO 0.00 0.00 1,489,209.59 0.00 0.00 OC 0.00 0.00 0.00 0.00 1,948,441.58 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 2,214,048.40 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 A-IO 0.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 A-1 296,163,000.00 1.71000% 846.92184402 1.24709241 0.00000000 0.00000000 A-2 38,969,000.00 1.98000% 846.92184403 1.44400164 0.00000000 0.00000000 M-1 18,510,000.00 2.18000% 1000.00000000 1.87722204 0.00000000 0.00000000 M-2 16,562,000.00 2.88000% 1000.00000000 2.48000000 0.00000000 0.00000000 B 19,484,000.00 3.63000% 1000.00000000 3.12583350 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 315.60 0.00000% 6173769.26489227 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 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 A-IO 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 A-1 0.00000000 0.00000000 1.24709241 0.00000000 811.27469302 A-2 0.00000000 0.00000000 1.44400164 0.00000000 811.27469296 M-1 0.00000000 0.00000000 1.87722204 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.48000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.12583350 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 6173769.26489227 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, 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 14,056,845.30 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 253,250.38 Realized Loss (Gains, Subsequent Expenses & Recoveries) (53,706.44) Prepayment Penalties 0.00 Total Deposits 14,256,389.24 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 95,839.83 Payment of Interest and Principal 14,160,549.41 Total Withdrawals (Pool Distribution Amount) 14,256,389.24 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 18,188.16 Servicing Fee Support 18,188.16 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 111,191.86 Master Servicing Fee 2,836.13 Supported Prepayment/Curtailment Interest Shortfall 18,188.16 Net Servicing Fee 95,839.83
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00 Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 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 174 0 0 0 174 13,579,693.44 0.00 0.00 0.00 13,579,693.44 60 Days 59 0 0 0 59 6,558,556.47 0.00 0.00 0.00 6,558,556.47 90 Days 36 0 0 0 36 3,966,861.35 0.00 0.00 0.00 3,966,861.35 120 Days 24 0 0 0 24 2,085,117.50 0.00 0.00 0.00 2,085,117.50 150 Days 16 0 0 0 16 1,642,566.94 0.00 0.00 0.00 1,642,566.94 180+ Days 13 0 0 0 13 873,110.87 0.00 0.00 0.00 873,110.87 Totals 322 0 0 0 322 28,705,906.57 0.00 0.00 0.00 28,705,906.57 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 5.236232% 0.000000% 0.000000% 0.000000% 5.236232% 4.129260% 0.000000% 0.000000% 0.000000% 4.129260% 60 Days 1.775504% 0.000000% 0.000000% 0.000000% 1.775504% 1.994300% 0.000000% 0.000000% 0.000000% 1.994300% 90 Days 1.083358% 0.000000% 0.000000% 0.000000% 1.083358% 1.206228% 0.000000% 0.000000% 0.000000% 1.206228% 120 Days 0.722239% 0.000000% 0.000000% 0.000000% 0.722239% 0.634034% 0.000000% 0.000000% 0.000000% 0.634034% 150 Days 0.481493% 0.000000% 0.000000% 0.000000% 0.481493% 0.499465% 0.000000% 0.000000% 0.000000% 0.499465% 180+ Days 0.391213% 0.000000% 0.000000% 0.000000% 0.391213% 0.265492% 0.000000% 0.000000% 0.000000% 0.265492% Totals 9.690039% 0.000000% 0.000000% 0.000000% 9.690039% 8.728780% 0.000000% 0.000000% 0.000000% 8.728780%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 253,250.38
COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.398017% Weighted Average Net Coupon 8.005961% Weighted Average Pass-Through Rate 7.995961% Weighted Average Maturity(Stepdown Calculation ) 286 Beginning Scheduled Collateral Loan Count 3,409 Number Of Loans Paid In Full 86 Ending Scheduled Collateral Loan Count 3,323 Beginning Scheduled Collateral Balance 340,335,053.01 Ending Scheduled Collateral Balance 328,388,552.00 Ending Actual Collateral Balance at 30-Nov-2002 328,865,053.83 Monthly P &I Constant 2,965,873.67 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 53,706.44 Cumulative Realized Loss 53,706.44 Ending Scheduled Balance for Premium Loans 328,388,552.00 Scheduled Principal 583,814.51 Unscheduled Principal 11,362,686.50 Required Overcollateralization Amount 1,948,441.58 Overcollateralized Increase Amount 53,706.44 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,948,441.58 Overcollateralized Amount 1,948,441.58 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 53,706.44 Excess Cash Amount 1,542,916.03
Stated Principal Balances of the Fixed Rate 233,655,876.29 Stated Principal Balance of the Adjustable 94,732,675.71
Miscellaneous Reporting Rolling Avg 3-Month Del Percentage 4.587966% Trigger Event Exists? NO Excess Yield Maintenance Amount 0.00
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