UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-K
(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

For the transition period from ___________________ to __________________.

Commission file number  333-81506-02
                      ----------------

                              EQUITY ONE ABS, INC.
--------------------------------------------------------------------------------
   (AS DEPOSITOR UNDER A CERTAIN POOLING AND SERVICING AGREEMENT DATED AS OF
                 APRIL 30, 2002, PROVIDING FOR THE ISSUANCE OF
               MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2002-3)
             (Exact name of registrant as specified in its charter)

        DELAWARE                                           52-2029487
-------------------------------                         ----------------
(State or other jurisdiction of                         (I.R.S. Employer
incorporation or organization)                         Identification No.)

103 SPRINGER BUILDING, 3411 SILVERSIDE ROAD,
         WILMINGTON, DELAWARE                                   19803
----------------------------------------                      ----------
(Address of principal executive offices)                      (Zip Code)

Registrant's telephone number, including area code:   (302) 478-6160
                                                     ----------------------

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 *
                                      ---   ---

* THE CLOSING DATE FOR THE TRANSACTION WAS JUNE 14, 2002.

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K (Sec.  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

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Rule 12b-2 of the Act). Yes    No X
                                      ---   ---

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common  equity,  as of
the last business day of the registrant's most recently  completed second fiscal
quarter.

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
<PAGE>

This Annual Report on Form 10-K is filed by Equity One ABS, Inc. (the "Reporting
Person") on behalf of Equity One ABS, Inc. Mortgage  Pass-Through  Certificates,
Series 2002-3 Trust (the "Trust")  established  pursuant to that certain Pooling
and Servicing  Agreement  (the "Pooling and  Servicing  Agreement")  dated as of
April 30, 2002 by and among the  Reporting  Person,  as  depositor,  Equity One,
Inc., as servicer and a seller (the "Servicer"), JPMorgan Chase Bank, as trustee
(the  "Trustee"),  and the various  other  sellers  signatory  thereto,  for the
issuance of the Equity One ABS, Inc. Mortgage Pass-Through Certificates,  Series
2002-3 (the "Certificates").

                                     PART I

ITEM 1.  BUSINESS

Omitted pursuant to First Union Residential Securitization  Transactions,  Inc.,
SEC No-Action Letter (April 1, 1997) (the "No-Action Letter").

ITEM 2.   PROPERTIES

As of December 31, 2002, the Trust owned no real estate.

ITEM 3.  LEGAL PROCEEDINGS

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

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

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<PAGE>

                                     PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

(a)  No established public trading market for the Certificates exists.

(b)  As of December  31,  2002,  the number of holders of record of the publicly
     offered Certificates was 28.

(c)  Omitted pursuant to the No-Action Letter.

ITEM 6.  SELECTED CONSOLIDATED FINANCIAL DATA

Omitted pursuant to the No-Action Letter.

ITEM 7. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Omitted pursuant to the No-Action Letter.

ITEM 7A.   QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Not Applicable.

ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Omitted pursuant to the No-Action Letter.

ITEM  9.  CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
FINANCIAL DISCLOSURE.

None.

                                       3
<PAGE>

                                    PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Omitted pursuant to the No-Action Letter.

ITEM 11.  EXECUTIVE COMPENSATION

Omitted pursuant to the No-Action Letter.

ITEM 12.  SECURITY  OWNERSHIP OF CERTAIN  BENEFICIAL  OWNERS AND  MANAGEMENT AND
RELATED STOCK HOLDER MATTERS

Item 201(d) of Regulation S-K
-----------------------------

None.

Item 403 of Regulation S-K
--------------------------

(a)  None.

(b)  Not applicable.

(c)  Not applicable.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

(a)  Not applicable.

(b)  Not applicable.

(c)  None.

(d)  None.

ITEM 14.  CONTROLS AND PROCEDURES

Not applicable.

                                       4
<PAGE>

                                     PART IV

ITEM 15.   EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)  Exhibits

     99.1 Annual Independent  Accountants' Servicing Report concerning servicing
          activities   under  the  Pooling  and  Servicing   Agreement  for  the
          Servicer's fiscal year ended November 30, 2002, in accordance with the
          No-Action Letter.

     99.2 Annual  Statement  of  Compliance  under  the  Pooling  and  Servicing
          Agreement for the  Servicer's  fiscal year ended November 30, 2002, in
          accordance with the No-Action Letter.

     99.3 Aggregate  Statement  of  Principal  and  Interest   Distributions  to
          Certificateholders.

(b)  On or about  October 28,  2002,  a report on Form 8-K was filed in order to
     provide the Monthly  Statement  to  Certificateholders  for the October 25,
     2002 distribution date. On or about November 26, 2002, a report on Form 8-K
     was filed in order to provide the Monthly  Statement to  Certificateholders
     for the November 25, 2002 distribution date. On or about December 27, 2002,
     a report on Form 8-K was filed in order to provide the Monthly Statement to
     Certificateholders for the December 26, 2002 distribution date.

     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 pursuant to the No-Action Letter.


                                       5
<PAGE>

                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
     Exchange Act of 1934,  the Reporting  Person has duly caused this report to
     be signed on its behalf by the undersigned, thereunto duly authorized.

                              EQUITY ONE ABS, INC.


Date: March 28, 2003          By:/s/ James H. Jenkins
                                 -----------------------------------------------
                                 James H. Jenkins, Senior Vice President and CFO

                                  CERTIFICATION

I, James H. Jenkins, 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 Equity One
     ABS, Inc.;

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 or servicing  information required
     to be  provided  to the  trustee  by the  servicer  under the  pooling  and
     servicing,  or  similar,  agreement,  for  inclusion  in these  reports  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 servicer has  fulfilled  its  obligations
     under the servicing agreement; and

5.   The  reports  disclose  all  significant   deficiencies   relating  to  the
     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, or similar, agreement, that is included in these reports.

In giving the  certifications  above,  I have  reasonably  relied on information
provided to me by the following  unaffiliated  parties:  JPMorgan Chase Bank, as
trustee.


Date: March 28, 2003
                                 /s/ James H. Jenkins
                                 -----------------------------------------------
                                 James H. Jenkins, Senior Vice President and CFO
                                 Equity One ABS, Inc.

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

(a)(2) 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.

                                       6
<PAGE>

                                INDEX TO EXHIBITS


Exhibit
Number                          Description
------                          -----------

99.1 Annual  Independent  Accountants'  Servicing  Report  concerning  servicing
     activities  under the Pooling and Servicing  Agreement  for the  Servicer's
     fiscal year ended  November  30, 2002,  in  accordance  with the  No-Action
     Letter.

99.2 Annual  Statement of Compliance  under the Pooling and Servicing  Agreement
     for the Servicer's  fiscal year ended November 30, 2002, in accordance with
     the No-Action Letter.

99.3 Aggregate   Statement  of   Principal   and   Interest   Distributions   to
     Certificateholders.




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