Option One Mortgage Accept Corp Asset Backed Cer Ser 2002-4 – ‘10-K/A’ for 7/24/03

On:  Thursday, 7/24/03, at 2:19pm ET   ·   For:  7/24/03   ·   Accession #:  1056404-3-1250   ·   File #:  333-82832-03

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Amendment to Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K/A      Amendment to Annual Report                             9±    37K 

Document Table of Contents

     UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549

       FORM 10-K/A

     Amendment No. 1

(Mark one)                                                                  

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES         
EXCHANGE ACT OF 1934                                                
For the fiscal year ended December 31, 2002                         

OR                                                                  

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES     
EXCHANGE ACT OF 1934                                                

Commission File Number:  333-82832-03                               

Option One Mortgage Acceptance Corporation                      
Asset-Backed Certificates                                       
Series 2002-4 Trust                                             

(Exact name of registrant as specified in its charter)            

New York                                       52-2365710                 
                              52-2365711
(State or other jurisdiction of                 (I.R.S. Employer            
incorporation or organization)                  Identification No.)         

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          

Securities registered pursuant to Section 12(b) of the Act:                 

NONE.                                                             

Securities registered pursuant to Section 12(g) of the Act:                 

NONE.                                                             

Indicate by check mark whether the registrant (1) has filed all reports     
required to be filed by Section 13 or 15(d) of the Securities Exchange      
Act of 1934 during the preceding 12 months (or for such shorter period      
that the registrant was required to file such reports), and (2) has been    
subject to such filing requirements for the past 90 days.                   

Yes  X       No ___                                                 

Indicate by check mark if disclosure of delinquent filers pursuant to       
Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained      
herein, and will not be contained, to the best of registrant's knowledge,   
in definitive proxy or information statements incorporated by reference     
in Part III of this Form 10-K or any amendment to this Form 10-K.           

Not applicable.                                               

State the aggregate market value of the voting and non-voting common        
equity held by non-affiliates of the registrant. The aggregate market       
value shall be computed by reference to the price at which the common       
equity was sold, or the average bid and asked prices of such common         
equity, as of a specified date within 60 days prior to the date of          
filing. (See definition of affiliate in Rule 405, 17 CFR 230.405.)          

Not applicable.                                               

Indicate the number of shares outstanding of each of the registrant's       
classes of common stock, as of the latest practicable date.                 

Not applicable.                                               

List hereunder the following documents if incorporated by reference and     
the Part of the Form 10-K (e.g. Part I, Part II, etc..) into which the      
document is incorporated: (1)Any annual report to security holders; (2)     
Any proxy or information statement; and (3)Any prospectus filed pursuant    
to Rule 424(b) or (c) under the Securities Act of 1933. The listed          
documents should be clearly described for identification purposes (e.g.     
annual report to security holders for fiscal year ended December 24, 1980). 

Not applicable.                                               

PART I        

Item 1.  Business.                                                          

Omitted.                                                

Item 2.  Properties.                                                        

      See Item 15(a), Exhibits 99.1, 99.2, and 99.3, for information
provided in lieu of information required by Item 102 of 
Regulation S-K.                                         

Item 3.  Legal Proceedings.                                                 

     The registrant knows of no material pending legal proceedings
    involving the trusts created under the Pooling and Servicing
Agreement (the Trusts), the Trustee, the Servicer or the
registrant with respect to the Trusts other than routine
      litigation incidental to the duties of the respective parties.

Item 4.  Submission of Matters to a Vote of Security Holders.               

None.                                                   

PART II           

Item 5.  Market for registrant's Common Equity and Related Stockholder      
Matters.                                                  

         No established public trading market for the Certificates exists.

Records provided to the Trust by the DTC and the Trustee
       indicate that as of December 31, 2002, the number of holders of
record for each class of Certificate were as follows:   

Class A                          11                   
Class C                           1                   
Class M1                          1                   
Class M2                          5                   
Class M3                          5                   
Class P                           1                   
Class R1                          1                   

Total:                           25                   

Item 6.  Selected Financial Data.                                           

Omitted.                                                

Item 7.  Management's Discussion and Analysis of Financial Condition and    
Results of Operation.                                     

Omitted.                                                

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.        

Not applicable.                                         

Item 8.  Financial Statements and Supplementary Data.                       

  See Item 15(a), Exhibits 99.1, 99.2, 99.3, for information
provided in lieu of information required by Item 302 of 
Regulation S-K.                                         

Item 9.  Changes in and Disagreements with Accountants on Accounting and    
Financial Disclosure.                                     

None.                                                   

PART III          

Item 10. Directors and Executive Officers of the Registrant.                

Not applicable.                                         

Item 11. Executive Compensation.                                            

Not applicable.                                         

Item 12. Security Ownership of Certain Beneficial Owners and Management.    

Not applicable.                                         

Item 13. Certain Relationships and Related Transactions.                    

Not applicable.                                         

Item 14. Controls and Procedures.                                           

Not applicable.                                         

PART IV           

Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.  

(a) Exhibits                                                              

(99.1) Annual Independent Accountants' Servicing Reports concerning     
servicing activities for the year ended December 31, 2002.

                                                                       [Download Table]
                               

                               
a) Option One, as Servicer <F1>
                                                                         
(99.2) Report of Management as to Compliance with Minimum Servicing     
Standards for the year ended December 31, 2002.           

                                                                       [Download Table]
                               

                               
a) Option One, as Servicer <F1>
                                                                         
(99.3) Annual Statements of Compliance under the Pooling and Servicing  
Agreements for the year ended December 31, 2002.          

                                                                       [Download Table]
                               

                               
a) Option One, as Servicer <F1>
                                                                         
(99.4) Aggregate Statement of Principal and Interest Distributions to   
Certificate Holders.                                      

(b)  On November 07, 2002, December 09, 2002, and January 07, 2003        
 reports on Form 8-K were filed by the Company in order to provide
the statements for the monthly distributions to holders of the  
 Certificates. No other reports on Form 8-K have been filed during
the last quarter of the period covered by this report.          

(c) Not applicable.                                                       

(d) Omitted.                                                              

<F1> Filed herewith.                                                        

SIGNATURES        

Pursuant to the requirements of Section 13 or 15(d) 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:         

Option One Mortgage Acceptance Corporation                              
Asset-Backed Certificates                                               
Series 2002-4 Trust                                                     
(Registrant)                                                            

Signed:  Option One Mortgage Acceptance Corporation as Depositor            

By:      William L. O'Neill                                                 

By: /s/  William L. O'Neill                                                 

Dated: July 24, 2003                                                        

Sarbanes-Oxley Certification                                                

I, William L. O'Neill, the Senior Officer of Option One Mortgage Acceptance     
Corp. (the "Registrant") in charge of securitizations, certify that:            

1.   I have reviewed this annual report on Form 10-K, and all reports on Form   
8-K containing distribution or servicing reports filed in respect of  
    periods included in the year covered by this annual report, of Registrant;

2.   Based on my knowledge, the information in these reports, taken as a whole, 
     does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the  
   circumstances under which such statements were made, not misleading as of
the last day of the period covered by this annual report;             

3.   Based on my knowledge, the distribution information and the servicing      
   information required to be provided to the Trustee by the Master Servicer
under the Pooling and Servicing is included in these reports;         

4.   Based on my knowledge and upon the annual compliance statement included in 
   the report and required to be delivered to the trustee in accordance with
   the terms of the pooling and servicing, or similar, agreement, and except
as disclosed in the reports, the Master Servicer has fulfilled its    
obligations under the servicing agreement; and                        

5.   The reports disclose all significant deficiencies relating to the Master   
   Servicer's compliance with the minimum servicing standards based upon the
 report provided by an independent public accountant, after conducting a
review in compliance with the Uniform Single Attestation Program for  
Mortgage Bankers or similar procedure, as set forth in the Pooling and
Servicing Agreement.                                                  

In giving the certifications above, I have reasonably relied on       
 information provided to me by the following unaffiliated parties: Wells
Fargo Bank Minnesota, National Association.                           

     Capitalized terms used but not defined herein have the meanings ascribed to
them in the Pooling and Servicing Agreement, dated June 1, 2002 (the  
"Pooling and Servicing Agreement"), among the Registrant as depositor,
 Option One Mortgage Corporation as master servicer and Wells Fargo Bank
Minnesota, National Association as trustee.                           

Date: July 24, 2003                                                 

/s/ William L. O'Neill                                              
Signature                                                           

Senior Vice President                                               
Title                                                               

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO     
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED           
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.                               

(a)(i) No annual report is provided to the Certificateholders other than    
with respect to aggregate principal and interest distributions.             

(a)(ii) No proxy statement, form of proxy or other proxy soliciting         
material has been sent to any Certificateholder with respect to any         
annual or other meeting of Certificateholders.                              

Ex-99.1 (a)                                                                     

PRICEWATERHOUSECOOPERS   (logo)                                                 

PricewaterhouseCoopers LLP                                                      
2020 Main Street                                                                
Suite 400                                                                       
P.O. Box 19630                                                                  
Irvine, CA 92623-9636                                                           
Telephone (949) 437 5200                                                        
Facsimile (949) 437 5300                                                        

Report of Independent Accountants                                               

To the Board of Directors                                                       
of Option One Mortgage Corporation                                              

We have examined management's assertion about Option One Mortgage Corporation's 
(a wholly-owned subsidiary of Block Financial Corporation) and its subsidiaries 
(the "Company") compliance with the minimum servicing standards identified in   
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers ("USAP") as of and for the year ended April 30, 2002       
included in the accompanying management assertion (see Exhibit I). Management is
responsible for the Company's compliance with those minimum servicing standards.
Our responsibility is to express an opinion on management's assertion about the 
Company's compliance based on our examination.                                  

Our examination was made in accordance with attestation standards established by
the American Institute of Certified Public Accountants and, accordingly,        
included examining, on a test basis, evidence about the Company's compliance    
with the minimum servicing standards and performing such other procedures as we 
considered necessary in the circumstances. We believe that our examination      
provides a reasonable basis for our opinion. Our examination does not provide a 
legal determination on the Company's compliance with the minimum servicing      
standards.                                                                      

In our opinion, management's assertion that the Company complied with the       
aforementioned minimum servicing standards as of and for the year ended April   
30, 2002 is fairly stated, in all material respects.                            

/s/ PricewaterhouseCoopers LLP                                                  

July 19, 2002                                                                   

Ex-99.2 (a)                                                                     

OPTION ONE   (logo)                                                             
Mortgage Corporation                                                            
Start Here. Finish Here.                                                        

www.optiononemortgage.com                                                       

Management's Assertion Concerning Compliance                                    
with USAP Minimum Servicing Standards                                           

July 19, 2002                                                                   

As of and for the year ended April 30, 2002, Option One Mortgage Corporation    
and its subsidiaries (the "Company") have complied in all material respects     
with the minimum servicing standards set forth in the Mortgage Bankers          
Association of America's Uniform Single Attestation Program for Mortgage Bankers
("USAP").                                                                       

As of and for this same period, the Company had in effect a fidelity bond and   
errors and omissions policy in the amount of $7,500,000.                        

/s/ Robert Dubrish                                                              
Robert Dubrish, CEO                                                             

/s/ William O'Neill                                                             
William L. O'Neill, CFO                                                         

Corporate Offices * 3 Ada * Irvine * California * 92618-2304 * 949.790.8100 *   
Fax 949.453.0199                                                                

Ex-99.3 (a)                                                                 

OFFICER'S CERTIFICATE                                                           
REGARDING ANNUAL STATEMENT OF COMPLIANCE                                        

Option One Mortgage Loan Trust, Series 2002-4                                   
Asset Backed Certificates                                                       

I, John Vella, hereby certify that I am a duly appointed Chief Servicing        
Officer of Option One Mortgage Corporation (the "Master Servicer"), and further 
certify as follows:                                                             

1.       This certification is being made pursuant to the terms of the Pooling  
and Servicing Agreement, dated as of June 1, 2002 (the "Agreement"), among      
Option One Mortgage Acceptance Corporation, as depositor, the Master Servicer,  
as master servicer and Wells Fargo Bank Minnesota, National Association, as     
trustee.                                                                        

2.       I have reviewed the activities of the Master Servicer during the       
preceding year and the Master Servicer's performance under the Agreement and to 
the best of my knowledge, based on such review, the Master Servicer has         
fulfilled all of its obligations under the Agreement throughout the year.       

Capitalized terms not otherwise defined herein have the meanings set forth in   
the Agreements.                                                                 

Dated: June 18, 2003                                                            

IN WITNESS WHEREOF, the undersigned has executed this Certificate as of June    
18, 2003.                                                                       

By:  /s/ John Vella                                                             
Name: John Vella                                                                
Title: CSO                                                                      

I, Rodney Smith, a (an) Assistant Secretary of the Master Servicer, hereby      
certify that John Vella is a duly elected, qualified, and acting Chief          
Servicing Officer of the Master Servicer and that the signature appearing above 
is his/her genuine signature.                                                   

IN WITNESS WHEREOF, the undersigned has executed this Certificate as of June    
18, 2003.                                                                       

By:  /s/ Rodney Smith                                                           
Name: Rodney Smith                                                              
Title: Assistant Secretary                                                      

Ex-99.4                                                                     
Schedule of Year-To-Date Principal and Interest Distributions to          
Certificateholders                                                        

                                                                   [Download Table]
                                                           

Class       Interest     Principal   Losses  Ending Balance
                                                           
A      2,966,385.72   20,455,515.36    0.00  252,899,484.64
C      9,218,847.47            0.00    0.00    2,799,888.00
M1       245,543.09            0.00    0.00   18,938,000.00
M2       287,661.72            0.00    0.00   18,114,000.00
M3       315,750.12            0.00    0.00   16,138,000.00
P        515,235.84            0.00    0.00          100.00
R1             0.00            0.00    0.00            0.00
R2             0.00            0.00    0.00            0.00
                                                                             

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K/A’ Filing		Date		Other Filings
Filed on / For Period End:		7/24/03
		6/18/03
		1/7/03		8-K
		12/31/02
		12/9/02		8-K
		11/7/02		8-K
		7/19/02
		6/1/02
		4/30/02
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