8-K 1 abf02sb1_200211.htm MONTHLY DISTRIBUTION STATEMENT 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: November 25, 2002
(Date of earliest event reported)

Asset Backed Funding Corporation
(as Depositor under the Pooling and Servicing Agreement, dated as of April 1, 2002,
providing for the issuance of ABFC Asset-Backed Certificates,
Series 2002-SB1)
(Exact name of registrant as specified in charter)

Delaware 333-32857-10 752533468
(State or other jurisdiction (Commission File Number) (IRS Employer
of organization) Identification No.)

100 North Tryon, Charlotte, NC 28255
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (704) 386-2400


(Former name or former address, if changed since last report.)

ITEM 5. OTHER EVENTS

This current report on Form 8-K relates to the monthly distribution
reported to the holders of ABFC Asset-Backed Certificates, Series 2002-SB1,
which was made on November 25, 2002.


ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits

Exhibit No. Description

99.1 Monthly distribution report pursuant to Section 4.06 of the
Pooling and Servicing Agreement for distribution on November 25, 2002.


Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on behalf of
the Registrant by the undersigned thereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION,
IN ITS CAPACITY AS TRUSTEE UNDER THE
POOLING AND SERVICING AGREEMENT ON
BEHALF OF ASSET BACKED FUNDING CORPORATION
By: /s / Russell Goldenberg
Russell Goldenberg,
Group Senior Vice President



Date: December 13, 2002
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
REVISED DATE: 12/13/2002
ASSET-BACKED CERTIFICATES PAYMENT DATE: 11/25/2002
135 S. LASALLE STREET SUITE 1625
CHICAGO, IL 60603-4159
USA
SERIES 2002-SB1
PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
ADMINISTRATOR: REPORTING PACKAGE TABLE OF CONTENTS ANALYST:
RITA LOPEZ (312) 904-0351 HUNG HUYNH 714-238-6716
RITA.LOPEZ@ABNAMRO.COM HUNG.B.HUYNH@ABNAMRO.COM
PAGE(S)
ISSUE ID: ABF02SB1 CLOSING DATE: 5/15/2002
STATEMENTS TO CERTIFICATEHOLDERS PAGE 2-5
CASH RECONCILIATION SUMMARY PAGE 6 FIRST PAYMENT DATE: 5/28/2002
MONTHLY DATA FILE NAME: BOND INTEREST RECONCILIATION PAGE 7 ASSUMED FINAL PAYMENT: DATE: 12/25/2031
ABF02SB1_200211_3.ZIP ASSET-BACKED FACTS ~ 15 MONTH LOAN STATUS SUMMARY PAGE 8
ASSET-BACKED FACTS ~ 15 MONTH PAYOFF/LOSS SUMMARY PAGE 9
SPECIALLY SERVICED (PART I) ~ LOAN DETAIL PAGE 10
MODIFIED LOAN DETAIL PAGE 11
REALIZED LOSS DETAIL PAGE 12
PARTIES TO THE TRANSACTION
DEPOSITOR: ASSET BACKED FUNDING CORPORATION
UNDERWRITER: BANC OF AMERICA SECURITIES LLC
MASTER SERVICER: LITTON LOAN SERVICING L.P.
SPECIAL SERVICER: LITTON LOAN SERVICING L.P.
RATING AGENCY: STANDARD & POOR'S RATING SERVICES/FITCH RATINGS
INFORMATION IS AVAILABLE FOR THIS ISSUE FROM THE FOLLOWING SOURCES
LASALLE WEB SITE WWW.ETRUSTEE.NET
LASALLE FACTOR LINE (800) 246-5761
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 1 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
ASSET-BACKED CERTIFICATES REVISED DATE: 12/13/2002
SERIES 2002-SB1 PAYMENT DATE: 11/25/2002
WAC: 9.934347% PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
WAMM: 295
RECORD DATE: 10/31/2002
CURRENT INDEX: 1.830000%
NEXT INDEX: 1.380000% REMIC 4
ABN AMRO ACCT: 67-8943-90-3
ORIGINAL OPENING PRINCIPAL PRINCIPAL NEGATIVE CLOSING INTEREST INTEREST PASS-THROUGH
CLASS FACE VALUE (1) BALANCE PAYMENT ADJ. OR LOSS AMORTIZATION BALANCE PAYMENT (2) ADJUSTMENT RATE
CUSIP PER $ 1000 PER $ 1000 PER $ 1000 PER $ 1000 PER $ 1000 PER $ 1000 PER $ 1000 NEXT RATE(3)
AI-1 63,045,000.00 44,233,654.18 3,975,020.45 0.00 0.00 40,258,633.73 130,415.56 0.00 3.53800000%
04542BAL6 701.620337537 63.050526608 0.000000000 0.000000000 638.569810929 2.068610675 0.000000000 3.538000000%
AI-2 9,384,000.00 9,384,000.00 0.00 0.00 0.00 9,384,000.00 33,626.00 0.00 4.30000000%
04542BAM4 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 3.583333333 0.000000000 4.300000000%
AI-3 23,262,000.00 23,262,000.00 0.00 0.00 0.00 23,262,000.00 96,052.68 0.00 4.95500000%
04542BAN2 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 4.129166882 0.000000000 4.955000000%
AI-4 15,330,000.00 15,330,000.00 0.00 0.00 0.00 15,330,000.00 82,667.03 0.00 6.47100000%
04542BAP7 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 5.392500326 0.000000000 6.471000000%
AII-1 147,891,000.00 131,330,330.26 3,455,236.59 0.00 0.00 127,875,093.67 255,583.41 0.00 2.26000000%
04542BAQ5 888.021111900 23.363400004 0.000000000 0.000000000 864.657711896 1.728187719 0.000000000 1.810000000%
M-1 21,313,000.00 21,313,000.00 0.00 0.00 0.00 21,313,000.00 114,344.25 0.00 6.43800000%
04542BAS1 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 5.365000235 0.000000000 6.438000000%
M-2 14,208,000.00 14,208,000.00 0.00 0.00 0.00 14,208,000.00 83,779.84 0.00 7.07600000%
04542BAT9 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 5.896666667 0.000000000 7.076000000%
M-3 10,262,000.00 10,262,000.00 0.00 0.00 0.00 10,262,000.00 66,403.69 0.00 7.76500000%
1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 6.470833171 0.000000000 7.765000000%
B 6,315,000.00 6,315,000.00 0.00 0.00 0.00 6,315,000.00 46,046.88 0.00 8.75000000%
1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 7.291667458 0.000000000 8.750000000%
A-IO 16,786,000.00 N 16,786,000.00 0.00 0.00 0.00 16,786,000.00 80,432.92 0.00 5.75000000%
04542BAR3 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 4.791666865 0.000000000 5.750000000%
CE 0.00 0.00 0.00 0.00 0.00 0.00 1,176,614.24 (36,445.29) N/A
9ABSH818 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 3.783203884 (0.117183660)
R4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N/A
9ABSH827 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000
TOTAL 311,010,000.00 275,637,984.44 7,430,257.04 0.00 0.00 268,207,727.40 2,165,966.50 (36,445.29)
TOTAL P&I PAYMENT 9,596,223.54
M-3 10,262,000.00 10,262,000.00 0.00 0.00 0.00 10,262,000.00 66,403.69 0.00 7.76500000%
04542BAU6 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 6.470833171 0.000000000 7.765000000%
R5 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N/A
9ABSH828 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000
TOTAL 10,262,000.00 10,262,000.00 0.00 0.00 0.00 10,262,000.00 66,403.69 0.00
TOTAL P&I PAYMENT 66,403.69
B 6,315,000.00 6,315,000.00 0.00 0.00 0.00 6,315,000.00 46,046.88 0.00 8.75000000%
9ABSH820 1000.000000000 0.000000000 0.000000000 0.000000000 1000.000000000 7.291667458 0.000000000 8.750000000%
R6 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N/A
9ABSH829 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000
TOTAL 6,315,000.00 6,315,000.00 0.00 0.00 0.00 6,315,000.00 46,046.88 0.00
TOTAL P&I PAYMENT 46,046.88
P 0.00 0.00 0.00 0.00 0.00 0.00 152,805.14 152,805.14 N/A
9ABSH821 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000
TOTAL 0.00 0.00 0.00 0.00 0.00 0.00 152,805.14 152,805.14
TOTAL P&I PAYMENT 152,805.14
NOTES: (1) N DENOTES NOTIONAL BALANCE NOT INCLUDED IN TOTAL (2) ACCRUED INTEREST PLUS/MINUS INTEREST ADJUSTMENT MINUS DEFERRED INTEREST EQUALS INTEREST PAYMENT (3) ESTIMATED. * DENOTES CONTROLLING CLASS
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 2 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
ASSET-BACKED CERTIFICATES REVISED DATE: 12/13/2002
PAYMENT DATE: 11/25/2002
SERIES 2002-SB1 PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
CASH RECONCILIATION SUMMARY
INTEREST SUMMARY PRINCIPAL SUMMARY SERVICING FEE SUMMARY
CURRENT SCHEDULED INTEREST 219,016.35 SCHEDULED PRINCIPAL:
LESS DEFERRED INTEREST 0.00 CURRENT SCHEDULED PRINCIPAL 15,916.91 CURRENT SERVICING FEES 11,327.33
LESS PPIS REDUCING SCHEDULED INT (28,096.34) PLUS FEES ADVANCED FOR PPIS 16,769.01
ADVANCED SCHEDULED PRINCIPAL 196,459.97 LESS REDUCTION FOR PPIS (28,096.34)
PLUS GROSS ADVANCE INTEREST 1,997,392.53 SCHEDULED PRINCIPAL 212,376.88
LESS ASER INTEREST ADV REDUCTION 0.00 PLUS DELINQUENT SERVICING FEES 104,810.61
LESS OTHER INTEREST NOT ADVANCED (2,436.63) UNSCHEDULED PRINCIPAL:
LESS OTHER ADJUSTMENT 0.00 CURTAILMENTS (1,518.82) TOTAL SERVICING FEES 104,810.61
PREPAYMENTS IN FULL 7,185,961.97
TOTAL 2,185,875.91
UNSCHEDULED INTEREST: LIQUIDATION PROCEEDS 33,437.01
REPURCHASE PROCEEDS 0.00
PREPAYMENT PENALTIES 152,805.14
YIELD MAINTENANCE PENALTIES 0.00 OTHER PRINCIPAL PROCEEDS 0.00
OTHER INTEREST PROCEEDS 0.00 TOTAL UNSCHEDULED PRINCIPAL 7,217,880.16
TOTAL 152,805.14 REMITTANCE PRINCIPAL 7,430,257.04
LESS FEE PAID TO SERVICER 0.00 REMITTANCE P&I DUE TRUST 9,751,598.76
LESS FEE STRIPS PAID BY SERVICER 0.00
REMITTANCE P&I DUE CERTS 9,749,028.66
LESS FEES & EXPENSES PAID BY/TO SERVICER PPIS SUMMARY
SPECIAL SERVICING FEES (22,500.00) POOL BALANCE SUMMARY
WORKOUT FEES 0.00 BALANCE COUNT GROSS PPIS 28,096.34
LIQUIDATION FEES 0.00
BEGINNING POOL 280,374,840.62 3,606 REDUCED BY PPIE 0.00
INTEREST DUE SERV ON ADVANCES 0.00 SCHEDULED PRINCIPAL 212,376.88 REDUCED BY SHORTFALLS IN FEES 0.00
NON RECOVERABLE ADVANCES 0.00 UNSCHEDULED PRINCIPAL 7,184,443.15 84 REDUCED BY OTHER AMOUNTS 0.00
MISC. FEES & EXPENSES (11,608.34) DEFERRED INTEREST 0.00
LIQUIDATIONS 60,937.61 1 PPIS REDUCING SCHEDULED INTEREST 28,096.34
PPIS REDUCING SERVICING FEE 28,096.34
TOTAL UNSCHEDULED FEES & EXPENSES (34,108.34) REPURCHASES 0.00 0
TOTAL INTEREST DUE TRUST 2,321,341.72 ENDING POOL 272,917,082.98 3,521 PPIS DUE CERTIFICATE 0.00
LESS FEES & EXPENSES PAID BY/TO TRUST ADVANCE SUMMARY (ADVANCE MADE BY SERVICER)
PRINCIPAL INTEREST
TRUSTEE FEE (2,570.10)
FEE STRIPS 0.00 PRIOR OUTSTANDING 99,724.32 1,138,924.18
MISC. FEES 0.00
INTEREST RESERVE WITHHOLDING 0.00 PLUS CURRENT PERIOD 196,459.97 1,994,955.90
PLUS INTEREST RESERVE DEPOSIT 0.00 LESS RECOVERED (193,005.55) (1,958,769.12)
TOTAL (2,570.10) LESS NON RECOVERED 0.00 0.00
ENDING OUTSTANDING 103,178.74 1,175,110.96
TOTAL INTEREST DUE CERTS 2,318,771.62
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 6 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
ASSET-BACKED CERTIFICATES REVISED DATE: 12/13/2002
PAYMENT DATE: 11/25/2002
SERIES 2002-SB1
PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
BOND INTEREST RECONCILIATION
DEDUCTIONS ADDITIONS
REMAINING
ACCRUAL PASS ACCRUED
DEFERRED &
PRIOR INT ACCRUAL PREPAY- OTHER DISTRIBUTABLE INTEREST CURRENT PERIOD OUTSTANDING
CREDIT SUPPORT
THRU CERTIFICATE ALLOCABLE ACCRETION INTEREST INT. SHORT- ON PRIOR MENT INTEREST CERTIFICATE PAYMENT (SHORTFALL)/ INTEREST
CLASS METHOD DAYS RATE INTEREST PPIS INTEREST LOSS/EXP FALLS DUE SHORTFALL (3) PENALTIES PROCEEDS (1)
INTEREST (2)
AMOUNT RECOVERY SHORTFALLS ORIGINAL CURRENT(4)
AI-1 30/360 30 3.538000000% 130,415.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 130,415.56 130,415.56 0.00 0.00 NA NA
AI-2 30/360 30 4.300000000% 33,626.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33,626.00 33,626.00 0.00 0.00 NA NA
AI-3 30/360 30 4.955000000% 96,052.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96,052.68 96,052.68 0.00 0.00 NA NA
AI-4 30/360 30 6.471000000% 82,667.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 82,667.03 82,667.03 0.00 0.00 NA NA
AII-1 ACT/360 31 2.260000000% 255,583.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 255,583.41 255,583.41 0.00 0.00 NA NA
M-1 30/360 30 6.438000000% 114,344.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 114,344.25 114,344.25 0.00 0.00 NA NA
M-2 30/360 30 7.076000000% 83,779.84 0.00 0.00 0.00 0.00 0.00 0.00 0.00 83,779.84 83,779.84 0.00 0.00 NA NA
A-IO 30/360 30 5.750000000% 80,432.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 80,432.92 80,432.92 0.00 0.00 NA NA
CE 30/360 30 0.000000000% 1,213,059.53 0.00 0.00 0.00 56,877.27 0.00 0.00 0.00 1,269,936.80 1,176,614.24 (36,445.29) 93,322.56 NA NA
M-3 30/360 30 7.765000000% 66,403.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 66,403.69 66,403.69 0.00 0.00 NA NA
B 30/360 30 8.750000000% 46,046.88 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46,046.88 46,046.88 0.00 0.00 NA NA
P 30/360 30 0.000000000% 0.00 0.00 0.00 0.00 0.00 0.00 152,805.14 0.00 152,805.14 152,805.14 0.00 0.00 NA NA
2,202,411.79 0.00 0.00 0.00 56,877.27 0.00 152,805.14 0.00 2,412,094.20 2,318,771.64 (36,445.29) 93,322.56
(1) OTHER INTEREST PROCEEDS ARE ADDITIONAL INTEREST AMOUNTS SPECIFICALLY ALLOCATED TO THE BOND(S) AND USED IN DETERMINING THE BONDS DISTRIBUTABLE INTEREST.
(2) ACCRUED - DEDUCTIONS + ADDITIONS INTEREST
(3) WHERE APPLICABLE.
(4) DETERMINED AS FOLLOWS: (A) THE ENDING BALANCE OF ALL THE CLASSES LESS (B) THE SUM OF (I) THE ENDING BALANCE OF THE CLASS AND (II) THE ENDING BALANCE OF ALL CLASSES WHICH ARE NOT SUBORDINATE TO THE CLASS DIVIDED BY (A).
PAGE 7 OF 12
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A.
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
REVISED DATE: 12/13/2002
ASSET-BACKED CERTIFICATES PAYMENT DATE: 11/25/2002
SERIES 2002-SB1
PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY
DELINQUENCY AGING CATEGORIES SPECIAL EVENT CATEGORIES (1)
DISTRIBUTION
DATE
DELINQ 1 MONTH DELINQ 2 MONTHS DELINQ 3+ MONTHS FORECLOSURE REO MODIFICATIONS SPECIALLY SERVICED BANKRUPTCY
# BALANCE # BALANCE # BALANCE # BALANCE # BALANCE # BALANCE # BALANCE # BALANCE
11/25/02 219 15,788,420 67 4,727,879 79 5,296,367 69 5,241,268 11 631,499 0 0 0 0 29 1,901,777
6.22% 5.79% 1.90% 1.73% 2.24% 1.94% 1.96% 1.92% 0.31% 0.23% 0.00% 0.00% 0.00% 0.00% 0.82% 0.70%
10/25/02 202 14,521,124 64 4,441,247 63 4,196,005 52 3,766,361 7 426,476 0 0 0 0 20 1,314,778
5.60% 5.18% 1.77% 1.58% 1.75% 1.50% 1.44% 1.34% 0.19% 0.15% 0.00% 0.00% 0.00% 0.00% 0.55% 0.47%
9/25/02 188 15,101,991 57 4,032,989 38 2,922,192 44 3,081,201 2 126,796 0 0 0 0 16 1,081,376
5.04% 5.18% 1.53% 1.38% 1.02% 1.00% 1.18% 1.06% 0.05% 0.04% 0.00% 0.00% 0.00% 0.00% 0.43% 0.37%
8/26/02 261 20,029,284 15 1,125,542 29 1,842,155 30 2,448,392 0 0 0 0 0 0 10 757,972
6.88% 6.71% 0.40% 0.38% 0.76% 0.62% 0.79% 0.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.26% 0.25%
7/25/02 204 14,650,010 9 492,414 22 1,305,320 6 600,517 0 0 0 0 0 0 7 474,049
5.29% 4.81% 0.23% 0.16% 0.57% 0.43% 0.16% 0.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.18% 0.16%
6/25/02 146 10,324,260 36 2,449,325 1 78,514 0 0 0 0 0 0 0 0 0 0
3.75% 3.35% 0.92% 0.79% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5/28/02 48 3,460,914 2 39,925 0 0 0 0 0 0 0 0 0 0 0 0
1.22% 1.11% 0.05% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
(1) NOTE: MODIFICATION, SPECIALLY SERVICED & BANKRUPTCY TOTALS ARE INCLUDED IN THE APPROPRIATE DELINQUENCY AGING CATEGORY
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 8 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
ASSET-BACKED CERTIFICATES REVISED DATE: 12/13/2002
PAYMENT DATE: 11/25/2002
SERIES 2002-SB1 PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL PAYOFF/LOSS SUMMARY
ENDING POOL (1) PAYOFFS(2) PENALTIES APPRAISAL REDUCT. (2) LIQUIDATIONS (2) REALIZED LOSSES (2) REMAINING TERM CURR WEIGHTED AVG.
DISTRIBUTION
DATE
# BALANCE # BALANCE # AMOUNT # BALANCE # BALANCE # AMOUNT LIFE AMORT COUPON REMIT
11/25/02 3,521 272,917,083 84 7,185,962 43 152,805 0 0 1 60,938 0 (27,501) 295 9.93% 9.43%
88.82% 86.44% 2.33% 2.56% 0.00% 0.00% 0.03% 0.02% 0.00% -0.01%
10/25/02 3,606 280,374,841 122 11,041,764 40 146,146 0 0 0 0 0 0 296 9.95% 9.45%
90.97% 88.80% 3.27% 3.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
9/25/02 3,728 291,678,499 64 6,739,856 38 151,546 0 0 0 0 0 0 297 9.97% 9.46%
94.05% 92.38% 1.69% 2.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
8/26/02 3,792 298,646,278 62 5,893,814 34 103,686 0 0 0 0 0 0 298 9.98% 9.47%
95.66% 94.58% 1.61% 1.93% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
7/25/02 3,854 304,831,429 40 3,186,241 21 64,284 0 0 0 0 0 0 299 10.00% 9.49%
97.23% 96.54% 1.03% 1.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
6/25/02 3,894 308,251,749 47 4,406,161 24 66,697 0 0 0 0 0 0 300 9.99% 9.48%
98.23% 97.63% 1.19% 1.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5/28/02 3,941 312,903,552 23 2,607,589 2 16,476 0 0 0 0 0 0 301 9.96% 9.45%
99.42% 99.10% 0.58% 0.83% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
(1) PERCENTAGE BASED ON POOL AS OF CUTOFF. (2) PERCENTAGE BASED ON POOL AS OF BEGINNING OF PERIOD.
PAGE 9 OF 12
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A.
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
REVISED DATE: 12/13/2002
ASSET-BACKED CERTIFICATES PAYMENT DATE: 11/25/2002
SERIES 2002-SB1 PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
SPECIALLY SERVICED (PART I) ~ LOAN DETAIL (END OF PERIOD)
LOAN
STATUS
CODE(1)
DISCLOSURE
CONTROL #
SERVICING
XFER DATE
BALANCE
NOTE
RATE
MATURITY
DATE
REMAINING
PROPERTY
TYPE
GEO.
LOCATION
NOI
DSCR
NOI
DATE
SCHEDULE ACTUAL LIFE
(1) LEGEND: A. P&I ADV - IN GRACE PERIOD 1. P&I ADV - DELINQUENT 1 MONTH 3. P&I ADV - DELINQUENT 3+ MONTHS 7. FORECLOSURE
B. P&I ADV -<ONE MONTH DELINQ 2. P&I ADV - DELINQUENT 2 MONTHS 4. MAT. BALLOON/ASSUMED P&I 9. REO
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 10 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
REVISED DATE: 12/13/2002
ASSET-BACKED CERTIFICATES PAYMENT DATE: 11/25/2002
SERIES 2002-SB1 PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
MODIFIED LOAN DETAIL
CUTOFF
MATURITY
DATE
MODIFIED
MATURITY
DATE
DISCLOSURE
CONTROL #
MODIFICATION
DATE
MODIFICATION
DESCRIPTION
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 11 OF 12
ABN AMRO
LASALLE BANK N.A.
ASSET BACKED FUNDING CORPORATION
REVISED DATE: 12/13/2002
ASSET-BACKED CERTIFICATES PAYMENT DATE: 11/25/2002
SERIES 2002-SB1 PRIOR PAYMENT: 10/25/2002
NEXT PAYMENT: 12/26/2002
RECORD DATE: 10/31/2002
ABN AMRO ACCT: 67-8943-90-3
REALIZED LOSS DETAIL
BEGINNING
SCHEDULED
BALANCE
GROSS PROCEEDS
AS A % OF
SCHED. BALANCE
AGGREGATE
LIQUIDATION
EXPENSES *
NET
LIQUIDATION
PROCEEDS
NET PROCEEDS
AS A % OF
SCHED. BALANCE
PERIOD
DISCLOSURE
CONTROL #
APPRAISAL
DATE
APPRAISAL
VALUE
GROSS
PROCEEDS
REALIZED
LOSS
200211 2030 NOT AVAIL. 68,000.00 60,937.61 35,621.44 58.46% 2,184.43 33,437.01 54.87% (27,500.60)
CURRENT TOTAL 60,937.61 35,621.44 2,184.43 33,437.01 (27,500.60)
CUMULATIVE 60,937.61 35,621.44 2,184.43 33,437.01 (27,500.60)
* AGGREGATE LIQUIDATION EXPENSES ALSO INCLUDE OUTSTANDING P&I ADVANCES AND UNPAID SERVICING FEES, UNPAID TRUSTEE FEES, ETC..
12/13/2002 - 13:08 (H810-H829) 2002 LASALLE BANK N.A. PAGE 12 OF 12