April 5, 2000
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Bear Stearns Asset Backed Securities, Inc. Asset-Backed
Certificates, Series 2000-1;
File No. 333-43091-06.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of January 1, 2000 (the "Pooling and Servicing Agreement")
among Bear Stearns Asset Backed Securities, Inc., a Delaware
corporation, as depositor (the "Depositor"), EMC Mortgage
Corporation, a Delaware corporation, as seller (in such capacity,
the "Seller") and as master servicer (in such capacity, the "Master
Servicer"), and Bankers Trust Company of California, N.A., a
national banking association, in its capacity as trustee, (the "Trustee").
The Certificates will be issued pursuant to the Pooling and Servicing
Agreement. The Bear Stearns Asset Backed Securities, Inc.,
Asset-Backed Certificates Series 2000-1 (the "Certificates") will
consist of": (a) the Class AF Certificates (the "Fixed Rate
Certificates"); (b) the Class AV Certificates (the "Adjustable Rate
Certificates") and, together with the Fixed Rate Certificates, the
"Offered Certificates"); (c) the Class IO Certificates (the "Class IO
Certificates"); (d) the Class P Certificates (the "Class P
Certificates"); and (e) the Class R Certificates (the "Residual
Certificates").
The Offered Certificates were registered under the Securities Act of 1933,
as amended, by a Registration Statement on Form S-11 (File No.
333-43091-06). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). The Trust intends to fulfill these filing
requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as defined in
the Pooling and Servicing Agreement), a Current Report on Form 8-K in
substantially the form enclosed herewith, including as an exhibit thereto
the applicable Distribution Date report. Each such Current Report will
also disclose under Item 5 any matter occurring during the relevant
reporting period which would be reportable under Item 1, 2, 4 or 5 of
Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 247-6255.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Bear Stearns Asset-Backed Certificates, Series
2000-1.
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): February 25, 2000
BEAR STEARNS ASSET-BACKED SECURITIES, INC.,
as Depositor, EMC Mortgage Corporation, as Seller and Master
Servicer, and Bankers Trust Company of California, N.A., a
trustee (the "Trustee") under the Pooling and Servicing Agreement,
dated as of January 1, 2000, providing for the issuance of the
Bear Stearns Asset-Backed Certificates, Series 2000-1.
BEAR STEARNS ASSET-BACKED CERTIFICATES, SERIES 2000-1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-43091-06 13-3836437
(Commission File Number) (I.R.S. Employer Identification No.)
245 PARK AVENUE
NEW YORK, NEW YORK 10167
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 272-2000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 2000.
SIGNATURE
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.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of January 1, 2000.
Date: April 5, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of February 25, 2000.
Bear Stearns (SACO) 2000-01
Mortgage Pass-Through Certificates
February 25, 2000 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 10
4. Cred
>it Enhancement Report 13
5. Coll
>ateral Report 14
6. Deli
>nquency Report 17
7. REO
>Report 20
8. Prep
>ayment Report 21
9. Real
>ized Loss Report 24
10. Real
>ized Loss Detail Report 27
11. Trig
>gers, Adj. Rate Cert. and Miscellaneous Report 28
12. Othe
>r Related Information 29
13. Addi
>tional Certificate Report 30
Tota
>l Number of Pages
> 30
CONTACTS
Adm
>inistrator: Tiffany L. Campbell
Dir
>ect Phone Number: (714)247-6414
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: SACO I,Inc.
> Cut-Off Date:
> December 1, 1999
Certificate Insurer:
> Closing Date:
> January 31, 2000
Servicer(s): EMC Mortgage Corp.
> Master Servicer First Payment Date:
> February 25, 2000
Underwriter(s): Bear, Stearns & Co.
> Inc Lead Underwriter Distribution Date:
> February 25, 2000
> Record Date:
> January 31, 2000
> Page 1 of 30
> (c) COPYRIGHT 2000 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
1
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS0001 200002
> 03458580216920194 9555835 519521112008269 460 216 121
>63 140 0 0 0 0 3801780 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 1
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS0001 200002
> 125825661 9610866 6172165 2166842 7553930 375 157 93
>39 100 0 0 0 0 1938416 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 2
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
BS0001 200002
> 2 8760141 7309329 3383671 3028369 4454338 85 59 28
>24 40 0 0 0 0 1863364 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
>
> 45 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
45726740.4141969.443401.67361436.813399368 10 2 2
>4 180 0 0 0 0 0 0 0 0
> 0 043679509 540 3801780 4514672917 198 0 01.07E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
27388549.7141969.443401.67300525.2 8742271 7 2 2
>3 130 0 0 0 0 0 0 0 0
> 0 025503803 389 1938416 27 9616717 144 0 070796
>267
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
18338190.7 0 060911.62 4657098 3 0 0
>1 50 0 0 0 0 0 0 0 0
> 0 018175707 151 1863364 18 5056200 54 0 036497
>562
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
10
>0 0 296.665
> 0 0 0.24803624
162247.6453848.4-64852.6 0 0 10
>0 0 282.168
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.07E+08 1434 1423162247.6453848.4-64852.6 0 0 10
>0 0 6164.28 2350165910.13 9838471 9302002 9284835274.2042 287.08350.027
>710.0142170.0491050.0018380.0037650.003765 0 0 0.248036242
>
> 0 0.22369472
120870.5177393.5-58112.5 0 0 7
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
70556116 1099 1091120870.5177393.5-58112.5 0 0 7
>0 0 2795.1817571.7241412.44 6602449 6248468 6237140 262282.168844.541
>87 0 0 0 0 0 0 0 0.223694717
>
> 0 0.29549717
41377.11276454.9-6740.11 0 0 3
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
36186470 335 33241377.11276454.9-6740.11 0 0 3
>0 0 3369.1 5929.2824497.69 3236022 3053534 3047695 298296.664760.723
>940.0417930.1443580.0054040.0110690.011069 0 0 0.295497169
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0.16116791 0.409204150.0356160.137461 0 0.0
>94
0 0.0
>88
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.161167912 0.4092041530.0356160.137461 0 Feb-00106.74260.0916
>97 0.0036310.996369
> 0.0036310.042712 0.042712 300.711873
0.13777363 0.361468350.0274730.136299 0
BankruptREO Sched - Sched - Sched
>- Fixed
> Sched - Fixed Sched - Fixed Sched - Fixed
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.137773633 0.361468350.0274730.136299 0 Feb-0070.55612 0.093
>26 0.0016880.998312
> 0.0016880.020066 0.020066 30 0.33443
0.20678191 0.502279070.0514930.139726 0
BankruptREO Sched- ASched- ASched-
> Adj
> Sched- Adj Sched- Adj Sched- Adj
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.206781906 0.5022790750.0514930.139726 0 Feb-0036.186470.0886
>64 0.0073980.992602
> 0.0073980.085255 0.085255 301.420917
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 8
> 0
0.711873388.9957 0 1 0 0
> 0 0 0
> 3 3Collection Account Repor 10 3
> 0
>
> 4 4Credit Enhancement Repor 13 1
>
> 5 5Collateral Report 14 3
> 0
>
> 6 6Delinquency Report 17 3
> 0
>
> 7 7REO Report 20 1
>
> 8 Foreclosure Report 0
>
> 9 8Prepayment Report 21 3
> 0
>
> 10 Prepayment Detail Report 0
>
> 11 9Realized Loss Report 24 3
> 0
>
> 12 10Realized Loss Detail Rep 27 1
>
> 13 11Triggers, Adj. Rate Cert 28 1
>
> 14 12Other Related Informatio 29 1
>
> 15 13Additional Certificate R 30 1
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 30
Sched - Sched - Fixed Sched - Fixed
> Sched - Fixed Sched - Fixed
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
0.33443 119.281 0 1 0 0
> 0 0 0
Sched- ASched- Adj Sched- Adj
> Sched- Adj Sched- Adj
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
1.420917269.7148 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 8 2 1
0 3 3 1
1 1 1
0 3 3 1
0 3 1 1
1 1
0 0
0 3 3 1
0 0
0 3 3 1
1 1
1 1 1
1 1
1 1 1
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