- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
The original 8-K has been amended by this 8-K/A to file an Amendment to
the Pooling and Servicing Agreement.
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 10, 2000
BEAR STEARNS ASSET BACKED SECURITIES, INC. (as depositor under a Pooling and
Servicing Agreement dated as of November 1, 1999 providing for, inter alia, the
issuance of Mortgage Asset-Backed Pass-Through Certificates, Series 1999-RS4)
Bear Stearns Asset Backed Securities, Inc.
------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 333-83541 13-3836437
-------- --------- ----------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
245 Park Avenue
New York, New York 10167
- ------------------ -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (212) 272-4095
- --------------------------------------------------------------------------------
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
------------------------------------------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibits:
1. Amendment No. 1, dated January 1, 2000 to the Pooling and Servicing
Agreement, dated as of November 1, 1999 among Bear Stearns Asset Backed
Securities, Inc., as depositor, Residential Funding Corporation, as master
servicer and Bank One, National Association, as trustee.
<PAGE>
SIGNATURES
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 thereunto duly authorized.
BEAR STEARNS ASSET BACKED
SECURITIES, INC.
By: /s/ Matthew Perkins
-----------------------------
Name: Matthew Perkins
Title: Vice President
Dated: March 10, 2000
EXHIBITS
<PAGE>
================================================================================
BEAR STEARNS ASSET BACKED SECURITIES, INC.
Depositor,
RESIDENTIAL FUNDING CORPORATION
Master Servicer,
and
BANK ONE, NATIONAL ASSOCIATION
Trustee
--------------------
AMENDMENT NO. 1 dated as of
January 1, 2000 to the
Pooling and Servicing Agreement
Dated as of November 1, 1999
--------------------
Bear Stearns Asset Backed Securities, Inc.
Mortgage Asset-Backed Pass-Through Certificates
Series 1999-RS4
================================================================================
<PAGE>
-1-
AMENDMENT NO. 1 made as of this 1st day of January 2000, among
Bear Stearns Asset Backed Securities, Inc. (the "Depositor"), Residential
Funding Corporation, as master servicer (the "Master Servicer"), and Bank One,
National Association, as trustee (the "Trustee").
W I T N E S S E T H
- - - - - - - - - -
WHEREAS, the Depositor, the Trustee and the Master Servicer
entered into a Pooling and Servicing Agreement (the "Agreement") dated as of
November 1, 1999, relating to the issuance of Bear Stearns Asset Backed
Securities, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series
1999-RS4; and
WHEREAS, the Depositor, the Master Servicer and the Trustee
desire to amend the terms of the Agreement pursuant to and in accordance with
Section 11.01(a)(ii) of the Agreement to correct an error in the Agreement.
NOW, THEREFORE, in consideration of the mutual premises and
agreements herein, the Depositor, the Master Servicer and the Trustee agree as
follows:
1. Capitalized terms used herein and not defined herein shall have the
meanings assigned to such terms in the Agreement.
2. Section 1.01 of the Agreement is hereby amended by replacing the
definition of "Stepdown Date" in its entirety with the following:
STEPDOWN DATE: The later to occur of (i) the Distribution Date
occurring in May 2002 and (ii) the Distribution Date on which the aggregate
Stated Principal Balance of the Mortgage Loans is less than one-half of the
Cut-off Date Balance.
3. The second paragraph of Section 2.02 of the Agreement is hereby
amended to read as follows:
If the Custodian, as the Trustee's agent, finds any document
or documents constituting a part of a Mortgage File to be missing or defective,
the Trustee shall promptly notify the Master Servicer and the Depositor;
provided, that if the Mortgage Loan related to such Mortgage File is listed on
Schedule A of the Mortgage Loan Purchase Agreement, no notification shall be
necessary. Pursuant to Section 2.3 of the Custodial Agreement, the Custodian
will notify the Master Servicer, the Depositor and the Trustee of any such
omission or defect found by it in respect of any Mortgage File held by it. If
such omission or defect materially and adversely affects the interests in the
related Mortgage Loan of the Certificateholders or the Insurer, the Master
Servicer shall promptly notify the related Subservicer of such omission or
defect and request that such Subservicer correct or cure such omission or defect
within 60 days from the date the Master Servicer was notified of such omission
or defect and, if such Subservicer does not correct or cure such omission or
defect within such period, that such Subservicer purchase such Mortgage Loan
from the Trust Fund at its Purchase Price, in either case within 90 days from
the
<PAGE>
-2-
date the Master Servicer was notified of such omission or defect; provided that
if the omission or defect would cause the Mortgage Loan to be other than a
"qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure
or repurchase must occur within 90 days from the date such breach was
discovered; and provided further, that no cure, substitution or repurchase shall
be required if such omission or defect is in respect of a Mortgage Loan listed
on Schedule A of the Mortgage Loan Purchase Agreement. The Purchase Price for
any such Mortgage Loan shall be deposited or caused to be deposited by the
Master Servicer in the Custodial Account maintained by it pursuant to Section
3.07 and, upon receipt by the Trustee of written notification of such deposit
signed by a Servicing Officer, the Trustee or any Custodian, as the case may be,
shall release to the Master Servicer the related Mortgage File and the Trustee
shall execute and deliver such instruments of transfer or assignment prepared by
the Master Servicer, in each case without recourse, as shall be necessary to
vest in the Subservicer or its designee, as the case may be, any Mortgage Loan
released pursuant hereto and thereafter such Mortgage Loan shall not be part of
the Trust Fund. It is understood and agreed that the obligation of the
Subservicer, to so cure or purchase any Mortgage Loan as to which a material and
adverse defect in or omission of a constituent document exists shall constitute
the sole remedy respecting such defect or omission available to
Certificateholders or the Trustee on behalf of Certificateholders (except for
the Insurer's rights under the Insurance Agreement).
<PAGE>
IN WITNESS WHEREOF, the Depositor, the Master Servicer and the Trustee
have caused their duly authorized representatives to execute and deliver this
instrument as of the date first above written.
BEAR STEARNS ASSET BACKED SECURITIES,
INC.
By: /s/ Matthew Perkins
---------------------------------
Name: Matthew Perkins
Title: Vice President
RESIDENTIAL FUNDING CORPORATION
By: /s/ Lisa Lundsten
---------------------------------
Name: Lisa Lundsten
Title: Director
BANK ONE, NATIONAL ASSOCIATION
By: /s/ Rick Tarnas
---------------------------------
Name: Rick Tarnas
Title: Vice President
CONSENTED TO:
AMBAC ASSURANCE CORPORATION
By: /s/ Thomas Adams
------------------------
Name: Thomas Adams
Title: First Vice President
