SUBSEQUENT TRANSFER INSTRUMENT

         Pursuant to this Subsequent Transfer Instrument, dated May 24, 2002
(the "Instrument"), between Option One Mortgage Acceptance Corporation as seller
(the "Depositor"), and Wells Fargo Bank Minnesota, National Association as
trustee of the Option One Mortgage Loan Trust 2002-2 Asset-Backed Certificates,
Series 2002-2, as purchaser (the "Trustee"), and pursuant to the Pooling and
Servicing Agreement, dated as of March 1, 2002 (the "Pooling and Servicing
Agreement"), among the Depositor as depositor, Option One Mortgage Corporation
as master servicer and the Trustee as trustee, the Depositor and the Trustee
agree to the sale by the Depositor and the purchase by the Trustee in trust, on
behalf of the Trust, of the Mortgage Loans listed on the attached Schedule of
Mortgage Loans (the "Subsequent Mortgage Loans").

         Capitalized terms used but not otherwise defined herein shall have the
meanings set forth in the Pooling and Servicing Agreement.

         Section 1.   CONVEYANCE OF SUBSEQUENT MORTGAGE LOANS.
                      ---------------------------------------

         (a) The Depositor does hereby sell, transfer, assign, set over and
convey to the Trustee in trust, on behalf of the Trust, without recourse, all of
its right, title and interest in and to the Subsequent Mortgage Loans, and
including all amounts due on the Subsequent Mortgage Loans after the related
Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage
Loans to be delivered pursuant to Section 2.01 of the Pooling and Servicing
Agreement; provided, however that the Depositor reserves and retains all right,
title and interest in and to amounts due on the Subsequent Mortgage Loans on or
prior to the related Subsequent Cut-off Date. The Depositor, contemporaneously
with the delivery of this Agreement, has delivered or caused to be delivered to
the Trustee each item set forth in Section 2.01 of the Pooling and Servicing
Agreement. The transfer to the Trustee by the Depositor of the Subsequent
Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is
intended by the Depositor, the Master Servicer, the Trustee and the
Certificateholders to constitute and to be treated as a sale by the Depositor to
the Trust Fund.

         (b) The Depositor, concurrently with the execution and delivery hereof,
does hereby transfer, assign, set over and otherwise convey to the Trustee
without recourse for the benefit of the Certificateholders all the right, title
and interest of the Depositor, in, to and under the Subsequent Mortgage Loan
Purchase Agreement, dated the date hereof, between the Depositor as purchaser
and the Master Servicer as seller, to the extent of the Subsequent Mortgage
Loans.

         (c) Additional terms of the sale are set forth on Attachment A hereto.

         Section 2.   REPRESENTATIONS AND WARRANTIES; CONDITIONS PRECEDENT.
                      ----------------------------------------------------

         (a) The Depositor hereby confirms that each of the conditions precedent
and the representations and warranties set forth in Section 2.08 of the Pooling
and Servicing Agreement are satisfied as of the date hereof.

         (b) All terms and conditions of the Pooling and Servicing Agreement are
hereby ratified and confirmed; provided, however, that in the event of any
conflict, the provisions of this Instrument shall control over the conflicting
provisions of the Pooling and Servicing Agreement.


<PAGE>



         Section 3.   RECORDATION OF INSTRUMENT.
                      -------------------------

         To the extent permitted by applicable law, this Instrument, or a
memorandum thereof if permitted under applicable law, is subject to recordation
in all appropriate public offices for real property records in all of the
counties or other comparable jurisdictions in which any or all of the properties
subject to the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by the Master
Servicer at the Certificateholders' expense on direction of the related
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.

         Section 4.   GOVERNING LAW.
                      -------------

         This Instrument shall be construed in accordance with the laws of the
State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.

         Section 5.   COUNTERPARTS.
                      ------------

         This Instrument may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same instrument.

         Section 6.  SUCCESSORS AND ASSIGNS.
                     ----------------------

         This Instrument shall inure to the benefit of and be binding upon the
Depositor and the Trustee and their respective successors and assigns.




<PAGE>



                                   OPTION ONE MORTGAGE ACCEPTANCE CORPORATION


                                   By:_______________________________________
                                   Name:
                                   Title:


                                   WELLS FARGO BANK MINNESOTA, NATIONAL
                                   ASSOCIATION, as Trustee for Option One
                                   Mortgage Loan Trust 2002-2, Asset-Backed
                                   Certificates, Series 2002-2


                                   By:_______________________________________
                                   Name:
                                   Title:


ATTACHMENTS
A.       Additional terms of sale.
B.       Schedule of Subsequent Mortgage Loans.
C.       Schedule of Prepayment Charges.




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                                  ATTACHMENT A

                            ADDITIONAL TERMS OF SALE

         A.       General

                  1.       Subsequent Cut-off Date: May 1, 2002
                  2.       Subsequent Transfer Date: May 24, 2002
                  3.       Aggregate Principal Balance of the Subsequent
                           Mortgage Loans as of the Subsequent Cut-off Date:
                           $88,875,504.71
                  4.       Purchase Price: 100.00%

         B. The obligation of the Trust Fund to purchase a Subsequent Mortgage
Loan on any Subsequent Transfer Date is subject to the satisfaction of the
conditions set forth in the immediately following paragraph and the accuracy of
the following representations and warranties with respect to each such
Subsequent Mortgage Loan determined as of the applicable Subsequent Cut-off
Date: (i) such Subsequent Mortgage Loan may not be 30 or more days delinquent as
of the last day of the month preceding the Subsequent Cut-off Date; (ii) the
original term to stated maturity of such Subsequent Mortgage Loan will not be
less than 120 months and will not exceed 360 months; (iii) the Subsequent
Mortgage Loan may not provide for negative amortization; (iv) such Subsequent
Mortgage Loan will not have a loan-to-value ratio greater than 100.00%; (v) such
Subsequent Mortgage Loans will have, as of the Subsequent Cut-off Date, a
weighted average term since origination not in excess of 360 months; (vi) such
Subsequent Mortgage Loan, if a Fixed Rate Mortgage Loan, shall have a Mortgage
Rate that is not less than 5.50% per annum or greater than 16.00% per annum;
(vii) such Subsequent Mortgage Loan shall have been serviced by the Master
Servicer since origination or the date of purchase; (viii) such Subsequent
Mortgage Loan must have a first payment date occurring on or before July 1,
2002; (ix) if the Subsequent Mortgage Loan is an Adjustable Rate Mortgage Loan,
the Subsequent Mortgage Loan will have a Gross Margin not less than 2.00% per
annum; (x) if the Subsequent Mortgage Loan is an Adjustable Rate Mortgage Loan,
the Subsequent Mortgage Loan will have a Maximum Mortgage Rate not less than
11.00% per annum; (xi) if the Subsequent Mortgage Loan is an Adjustable Rate
Mortgage Loan, the Subsequent Mortgage Loan will have a Minimum Mortgage Rate
not less than 5.00% per annum and (xii) such Subsequent Mortgage Loan shall have
been underwritten in accordance with the criteria set forth under "Option One
Mortgage Corporation--Underwriting Standards" in the Prospectus Supplement.

         C. Following the purchase of any Subsequent Mortgage Loan by the Trust,
the Mortgage Loans (including such Subsequent Mortgage Loans) will as of the
Subsequent Cut-off Date: (i) have a weighted average original term to stated
maturity of not more than 360 months; (ii) have a weighted average Mortgage Rate
of not less than 8.20% per annum and not more than 8.60% per annum; (iii) have a
weighted average Loan-to-Value Ratio of not more than 78.00%; (iv) have no
Mortgage Loan with a principal balance in excess of $1,000,000; (v) will consist
of Mortgage Loans covered by the PMI Policy representing no less than 58.00% of
the Pool Balance; (v) will consist of Mortgage Loans with Prepayment Charges
representing no less than 79.00% of the Pool Balance and (vi) have no more than
20.50% of Fixed Rate Mortgage Loans by aggregate principal balance of the


<PAGE>


Mortgage Loans as of the Subsequent Cut-off Date. In addition, the Adjustable
Rate Mortgage Loans will as of the Subsequent Cut-off Date have a weighted
average Gross Margin not less than 5.50% by aggregate principal balance of the
Adjustable Rate Mortgage Loans as of the Subsequent Cut-off Date.

         D. Notwithstanding the foregoing, any Subsequent Mortgage Loan may be
rejected by (i) the NIMS Insurer or (ii) either Rating Agency if the inclusion
of any such Subsequent Mortgage Loan would adversely affect the ratings of any
Class of Certificates. At least one Business Day prior to the Subsequent
Transfer Date, each Rating Agency shall notify the Trustee as to which
Subsequent Mortgage Loans, if any, shall not be included in the transfer on the
Subsequent Transfer Date; provided, however, that the Master Servicer, in its
capacity as Originator, shall have delivered to each Rating Agency at least
three Business Days prior to such Subsequent Transfer Date a computer file
acceptable to each Rating Agency describing the characteristics specified in
paragraphs (c) and (d) above.