8-K 1 bst02003.txt AUGUST 8-K UNITED STATES 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): August 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-09 90-0072844 Pooling and Servicing Agreement) (Commission 90-0072905 (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 (Former name or former address, if changed since last report) ITEM 5. Other Events On August 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the August 25, 2003 distribution. 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. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-3 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the August 25, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 BST Series: 2002-3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MJZ6 SEN 5.~~95121~~94172% 3429,~~656~~523,~~767~~127.2177 ~~171~~144,~~874~~586.6359 53,~~133~~747,~~639~~938.4337 II-A 07384MKC5 SEN 6.~~03113~~03522% 3935,~~345~~321,~~256~~683.6606 ~~197~~175,~~747~~706.0248 43,~~023~~873,~~573~~370.5937 R-I 07384MKA9 RES 6.~~11459~~11568% 0.00 0.00 0.00 R-II 07384MKB7 RES 6.~~11459~~11568% 0.00 0.00 0.00 B-1 07384MKE1 SUB 5.~~99528~~99383% 2,~~200~~069,~~794~~983.6013 10,~~995~~226.3244 ~~130~~117,~~811~~222.4723 B-2 07384MKF8 SUB 5.~~99528~~99383% 1,~~676~~577,~~847~~178.5963 87,~~377~~791.6481 9989,~~668~~314.9693 B-3 07384MKG6 SUB 5.~~99528~~99383% 1,~~152~~084,~~900~~374.5814 5,~~759~~357.9718 6861,~~526~~407.4463 B-4 07384MKH4 SUB 5.~~99528~~99383% ~~419~~394,~~173~~258.1219 21,~~094~~947.2277 2422,~~914~~326.9367 B-5 07384MKJ0 SUB 5.~~99528~~99383% ~~419~~394,~~173~~258.1219 21,~~094~~947.2277 2422,~~914~~326.9367 B-6 07384MKK7 SUB 5.~~99528~~99383% ~~419~~394,~~326~~402.4137 21,~~094~~948.9848 2422,~~924~~334.0583 Totals 8070,~~290~~759,~~239~~265.2948 ~~401~~349,~~038~~512.0052 97,~~530~~956,~~973~~241.8070

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 2925,~~523~~775,~~127~~189.7740 53,~~305~~892,~~514~~524.0696 0.00 II-A 0.00 3531,~~321~~448,~~683~~312.0669 4,~~221~~049,~~320~~076.6185 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 21,~~069~~952,~~983~~760.1390 ~~141~~127,~~806~~448.7967 0.00 B-2 0.00 1,~~577~~487,~~178~~863.6370 ~~108~~97,~~046~~106.6074 0.00 B-3 0.00 1,~~084~~022,~~374~~966.1451 7466,~~286~~764.4181 0.00 B-4 0.00 ~~394~~371,~~258~~931.1952 2724,~~009~~274.1544 0.00 B-5 0.00 ~~394~~371,~~258~~931.1952 2724,~~009~~274.1544 0.00 B-6 0.00 ~~394~~372,~~402~~067.3753 2724,~~019~~283.0331 0.00 Totals 0.00 7062,~~759~~803,~~265~~023.4877 98,~~932~~305,~~011~~754.8022 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 113,308,600.00 3429,~~656~~523,~~767~~127.2177 3532,~~905~~698.2048 53,~~097~~715,~~734~~239.2389 0.00 0.00 II-A 148,858,000.00 3935,~~345~~321,~~256~~683.6606 3633,~~637~~036.7494 3,~~986~~840,~~935~~333.8542 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 2,837,800.00 2,~~200~~069,~~794~~983.6013 2,~~152~~093.8493 ~~128~~115,~~658~~128.6330 0.00 0.00 B-2 2,162,200.00 1,~~676~~577,~~847~~178.5963 1,~~640~~595.3143 9887,~~028~~719.6451 0.00 0.00 B-3 1,486,600.00 1,~~152~~084,~~900~~374.5814 1,~~127~~096.7892 6760,~~398~~310.6671 0.00 0.00 B-4 540,500.00 ~~419~~394,~~173~~258.1219 ~~410~~398.0482 2421,~~504~~927.8985 0.00 0.00 B-5 540,500.00 ~~419~~394,~~173~~258.1219 ~~410~~398.0482 2421,~~504~~927.8985 0.00 0.00 B-6 540,697.70 ~~419~~394,~~326~~402.4137 ~~410~~398.1997 2421,~~513~~935.8687 0.00 0.00 Totals 270,274,997.70 8070,~~290~~759,~~239~~265.2948 7871,~~694~~718.1431 97,~~452~~884,~~279~~523.6540 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A 53,~~133~~747,~~639~~938.4337 2925,~~523~~775,~~127~~189.7740 0.~~26055505~~22747779 53,~~133~~747,~~639~~938.4337 II-A 43,~~023~~873,~~573~~370.5937 3531,~~321~~448,~~683~~312.0669 0.~~23728441~~21126384 43,~~023~~873,~~573~~370.5937 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 ~~130~~117,~~811~~222.4723 21,~~069~~952,~~983~~760.1390 0.~~72943235~~68812492 ~~130~~117,~~811~~222.4723 B-2 9989,~~668~~314.9693 1,~~577~~487,~~178~~863.6370 0.~~72943235~~68812492 9989,~~668~~314.9693 B-3 6861,~~526~~407.4463 1,~~084~~022,~~374~~966.1451 0.~~72943236~~68812492 6861,~~526~~407.4463 B-4 2422,~~914~~326.9367 ~~394~~371,~~258~~931.1952 0.~~72943236~~68812492 2422,~~914~~326.9367 B-5 2422,~~914~~326.9367 ~~394~~371,~~258~~931.1952 0.~~72943236~~68812492 2422,~~914~~326.9367 B-6 2422,~~924~~334.0583 ~~394~~372,~~402~~067.3753 0.~~72943231~~68812486 2422,~~924~~334.0583 Totals 97,~~530~~956,~~973~~241.80 70 62,~~759~~803,~~265~~023.4877 0.~~26180470~~23236712 97,~~530~~956,~~973~~241.8070

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 113,308,600.00 ~~305~~260.~~86175462~~55504851 0.~~31687974~~28857898 4432.~~98982628~~78868409 0.00000000 II-A 148,858,000.00 ~~264~~237.~~31402182~~28441239 0.~~24612543~~22193594 2625.~~78348392~~79863642 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 ~~775~~729.~~52843752~~43235253 0.~~75862992~~73787089 4540.~~33745507~~56956093 0.00000000 B-2 2,162,200.00 ~~775~~729.~~52843863~~43235131 0.~~75863010~~73787346 4540.~~33745259~~56956341 0.00000000 B-3 1,486,600.00 ~~775~~729.~~52844074~~43235571 0.~~75863043~~73787165 4540.~~33745459~~56956142 0.00000000 B-4 540,500.00 ~~775~~729.~~52843663~~43235893 0.~~75863090~~73787234 4540.~~33744681~~56956522 0.00000000 B-5 540,500.00 ~~775~~729.~~52843663~~43235893 0.~~75863090~~73787234 4540.~~33744681~~56956522 0.00000000 B-6 540,697.70 ~~775~~729.~~52837750~~43230570 0.~~75863093~~73787997 4540.~~33745936~~56956410 0.00000000 2) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 4533.~~30670602~~07726307 ~~260~~227.~~55504851~~47778545 0.~~26055505~~22747779 4533.~~30670602~~07726307 II-A 0.00000000 2726.~~02960936~~02057242 ~~237~~211.~~28441239~~26383997 0.~~23728441~~21126384 2726.~~02960936~~02057242 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4641.~~09608500~~30743181 ~~729~~688.~~43235253~~12492071 0.~~72943235~~68812492 4641.~~09608500~~30743181 B-2 0.00000000 4641.~~09608732~~30743224 ~~729~~688.~~43235131~~12491906 0.~~72943235~~68812492 4641.~~09608732~~30743224 B-3 0.00000000 4641.~~09608503~~30743307 ~~729~~688.~~43235571~~12492264 0.~~72943236~~68812492 4641.~~09608503~~30743307 B-4 0.00000000 4641.~~09607771~~30743756 ~~729~~688.~~43235893~~12492137 0.~~72943236~~68812492 4641.~~09607771~~30743756 B-5 0.00000000 4641.~~09607771~~30743756 ~~729~~688.~~43235893~~12492137 0.~~72943236~~68812492 4641.~~09607771~~30743756 B-6 0.00000000 4641.~~09609029~~30742557 ~~729~~688.~~43230570~~12486164 0.~~72943231~~68812486 4641.~~09609029~~30742557 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 113,308,600.00 5.~~95121~~94172% 3429,~~656~~523,~~767~~127.2177 ~~171~~146,~~874~~181.6382 0.00 0.00 II-A 148,858,000.00 6.~~03113~~03522% 3935,~~345~~321,~~256~~683.6606 ~~197~~177,~~747~~645.0205 0.00 0.00 R-I 50.00 6.~~11459~~11568% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~11459~~11568% 0.00 0.00 0.00 0.00 B-1 2,837,800.00 5.~~99528~~99383% 2,~~200~~069,~~794~~983.6013 10,~~995~~339.3226 0.00 0.00 B-2 2,162,200.00 5.~~99528~~99383% 1,~~676~~577,~~847~~178.5963 87,~~377~~877.6478 0.00 0.00 B-3 1,486,600.00 5.~~99528~~99383% 1,~~152~~084,~~900~~374.5814 5,~~759~~416.9729 0.00 0.00 B-4 540,500.00 5.~~99528~~99383% ~~419~~394,~~173~~258.1219 21,~~094~~969.2226 0.00 0.00 B-5 540,500.00 5.~~99528~~99383% ~~419~~394,~~173~~258.1219 21,~~094~~969.2226 0.00 0.00 B-6 540,697.70 5.~~99528~~99383% ~~419~~394,~~326~~402.4137 21,~~094~~969.98 0.00 0.00 Totals 270,274,997.70 ~~401~~353,~~038~~368.0070 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A 01,595.0023 0.00 ~~171~~144,~~874~~586.6359 0.00 2925,~~523~~775,~~127~~189.7740 II-A 01,938.0057 0.00 ~~197~~175,~~747~~706.0248 0.00 3531,~~321~~448,~~683~~312.0669 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 0112.0083 0.00 10,~~995~~226.3244 0.00 21,~~069~~952,~~983~~760.1390 B-2 085.0097 0.00 87,~~377~~791.6481 0.00 1,~~577~~487,~~178~~863.6370 B-3 059.0011 0.00 5,~~759~~357.9718 0.00 1,~~084~~022,~~374~~966.1451 B-4 021.0049 0.00 21,~~094~~947.2277 0.00 ~~394~~371,~~258~~931.1952 B-5 021.0049 0.00 21,~~094~~947.2277 0.00 ~~394~~371,~~258~~931.1952 B-6 021.0050 0.00 21,~~094~~948.9848 0.00 ~~394~~372,~~402~~067.3753 Totals 03,856.0019 0.00 ~~401~~349,~~038~~512.0052 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 113,308,600.00 5.~~95121~~94172% ~~305~~260.~~86175462~~55504851 1.~~51687189~~29012114 0.00000000 0.00000000 II-A 148,858,000.00 6.~~03113~~03522% ~~264~~237.~~31402182~~28441239 1.~~32842723~~19338598 0.00000000 0.00000000 R-I 50.00 6.~~11459~~11568% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~11459~~11568% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 5.~~99528~~99383% ~~775~~729.~~52843752~~43235253 3.~~87459299~~64340686 0.00000000 0.00000000 B-2 2,162,200.00 5.~~99528~~99383% ~~775~~729.~~52843863~~43235131 3.~~87459069~~64340949 0.00000000 0.00000000 B-3 1,486,600.00 5.~~99528~~99383% ~~775~~729.~~52844074~~43235571 3.~~87459303~~64340778 0.00000000 0.00000000 B-4 540,500.00 5.~~99528~~99383% ~~775~~729.~~52843663~~43235893 3.~~87459759~~64340426 0.00000000 0.00000000 B-5 540,500.00 5.~~99528~~99383% ~~775~~729.~~52843663~~43235893 3.~~87459759~~64340426 0.00000000 0.00000000 B-6 540,697.70 5.~~99528~~99383% ~~775~~729.~~52837750~~43230570 3.~~87458648~~64340370 0.00000000 0.00000000 5) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.~~00000000~~01407863 0.00000000 1.~~51687189~~27604251 0.00000000 ~~260~~227.~~55504851~~47778545 II-A 0.~~00000000~~01302295 0.00000000 1.~~32842723~~18036303 0.00000000 ~~237~~211.~~28441239~~26383997 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~00000000~~03975967 0.00000000 3.~~87459299~~60365072 0.00000000 ~~729~~688.~~43235253~~12492071 B-2 0.~~00000000~~03976043 0.00000000 3.~~87459069~~60364906 0.00000000 ~~729~~688.~~43235131~~12491906 B-3 0.~~00000000~~03976187 0.00000000 3.~~87459303~~60364590 0.00000000 ~~729~~688.~~43235571~~12492264 B-4 0.~~00000000~~03975948 0.00000000 3.~~87459759~~60364477 0.00000000 ~~729~~688.~~43235893~~12492137 B-5 0.~~00000000~~03975948 0.00000000 3.~~87459759~~60364477 0.00000000 ~~729~~688.~~43235893~~12492137 B-6 0.~~00000000~~03976344 0.00000000 3.~~87458648~~60364026 0.00000000 ~~729~~688.~~43230570~~12486164 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 98,~~932~~321,~~283~~338.6090 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 158,~~675~~894.3059 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 98,~~947~~330,~~958~~233.9049 Withdrawals Reimbursement for Servicer Advances 815,~~031~~675.4330 Payment of Service Fee 78,~~915~~803.6797 Payment of Interest and Principal 98,~~932~~305,~~011~~754.8022 Total Withdrawals (Pool Distribution Amount) 98,~~947~~330,~~958~~233.9049 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 15,~~581~~697.2439 Servicing Fee Support 1511,~~581~~841.2421 Non-Supported Prepayment/Curtailment Interest Shortfall 03,856.0018

SERVICING FEES Gross Servicing Fee 2320,~~496~~645.9118 Supported Prepayment/Curtailment Interest Shortfall 1511,~~581~~841.2421 Net Servicing Fee 78,~~915~~803.6797

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 51 0 0 0 51 2555,~~084,117~~715.5263 0.00 0.00 0.00 2555,~~084,117~~715.5263 60 Days 01 0 0 0 01 0378,607.0040 0.00 0.00 0.00 0378,607.0040 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 10 0 10 0.00 0.00 ~~499,160~~0.9800 0.00 ~~499,160~~0.9800 150 Days 0 0 01 0 01 0.00 0.00 0499,160.0098 0.00 0499,160.0098 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 52 0 1 0 63 2934,~~084,117~~323.5203 0.00 499,160.98 0.00 21,~~583~~433,~~278~~484.5001 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~906977~~649351% 0.000000% 0.000000% 0.000000% 20.~~906977~~649351% 20.~~942841~~884087% 0.000000% 0.000000% 0.000000% 20.~~942841~~884087% 60 Days 0.~~000000~~649351% 0.000000% 0.000000% 0.000000% 0.~~000000~~649351% 0.~~000000~~602326% 0.000000% 0.000000% 0.000000% 0.~~000000~~602326% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.~~581395~~000000% 0.000000% 0.~~581395~~000000% 0.000000% 0.000000% 0.~~704831~~000000% 0.000000% 0.~~704831~~000000% 150 Days 0.000000% 0.000000% 0.~~000000~~649351% 0.000000% 0.~~000000~~649351% 0.000000% 0.000000% 0.~~000000~~794114% 0.000000% 0.~~000000~~794114% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 21.~~906977~~298701% 0.000000% 0.~~581395~~649351% 0.000000% 31.~~488372~~948052% 21.~~942841~~486413% 0.000000% 0.~~704831~~794114% 0.000000% 32.~~647672~~280527%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 20 0 0 0 20 ~~851,719~~0.1100 0.00 0.00 0.00 ~~851,719~~0.1100 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 20 0 0 0 20 ~~851,719~~0.1100 0.00 0.00 0.00 ~~851,719~~0.1100 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~739726~~000000% 0.000000% 0.000000% 0.000000% 20.~~739726~~000000% 20.~~647377~~000000% 0.000000% 0.000000% 0.000000% 20.~~647377~~000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 20.~~739726~~000000% 0.000000% 0.000000% 0.000000% 20.~~739726~~000000% 20.~~647377~~000000% 0.000000% 0.000000% 0.000000% 20.~~647377~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 31 0 0 0 3 1 555,~~232,398~~715.4163 0.00 0.00 0.00 1555,~~232,398~~715.4163 60 Days 01 0 0 0 01 0378,607.0040 0.00 0.00 0.00 0378,607.0040 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 10 0 10 0.00 0.00 ~~499,160~~0.9800 0.00 ~~499,160~~0.9800 150 Days 0 0 01 0 01 0.00 0.00 0499,160.0098 0.00 0499,160.0098 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 32 0 1 0 43 1934,~~232,398~~323.4103 0.00 499,160.98 0.00 1,~~731~~433,~~559~~484.3901 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 31.~~030303~~123596% 0.000000% 0.000000% 0.000000% 31.~~030303~~123596% 31.~~188798~~606153% 0.000000% 0.000000% 0.000000% 31.~~188798~~606153% 60 Days 01.~~000000~~123596% 0.000000% 0.000000% 0.000000% 01.~~000000~~123596% 01.~~000000~~094267% 0.000000% 0.000000% 0.000000% 01.~~000000~~094267% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 10.~~010101~~000000% 0.000000% 10.~~010101~~000000% 0.000000% 0.000000% 10.~~291566~~000000% 0.000000% 10.~~291566~~000000% 150 Days 0.000000% 0.000000% 01.~~000000~~123596% 0.000000% 01.~~000000~~123596% 0.000000% 0.000000% 01.~~000000~~442697% 0.000000% 01.~~000000~~442697% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 32.~~030303~~247191% 0.000000% 1.~~010101~~123596% 0.000000% 43.~~040404~~370787% 32.~~188798~~700421% 0.000000% 1.~~291566~~442697% 0.000000% 4.~~480364~~143118%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 158,~~675~~894.3059

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 156,966,397.70 58.07655130% 4137,~~236~~027,~~137~~834.7137 58.~~27666162~~95868087% 41.~~723338~~041319% 9695.~~236803~~926708% Class 2A 8,108,397.70 3.00005467% 5,~~914~~579,~~454~~521.6568 8.~~35855857~~88416090% 4950.~~918103~~074520% 22.~~474169~~958628% Class B-1 5,270,597.70 1.95008704% 3,~~844~~626,~~471~~760.5278 5.~~43317047~~77481873% 23.~~925388~~109342% 1.~~317071~~425600% Class B-2 3,108,397.70 1.15008703% 2,~~267~~138,~~292~~897.8908 3.~~20423463~~40572309% 2.~~228936~~369096% 1.~~003513~~086205% Class B-3 1,621,797.70 0.60005465% 1,~~182~~115,~~918~~930.7557 1.~~67175103~~77687395% 1.~~532484~~628849% 0.~~689956~~746810% Class B-4 1,081,297.70 0.40007315% ~~788~~743,~~660~~999.5605 1.~~11456861~~18465482% 0.~~557182~~592219% 0.~~250855~~271526% Class B-5 540,797.70 0.20009165% ~~394~~372,~~402~~067.3753 0.~~55738618~~59243569% 0.~~557182~~592219% 0.~~250855~~271526% Class B-6 100.00 0.00003700% 0.00 0.00000000% 0.~~557386~~592436% 0.~~250947~~271625% Class R-II 50.00 0.00001850% 0.00 0.00000000% 0.000000% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~345004~~342868% Weighted Average Net Coupon 5.~~993824~~992748% Weighted Average Pass-Through Rate 5.~~993824~~992748% Weighted Average Maturity(Stepdown Calculation ) ~~342~~341 Beginning Scheduled Collateral Loan Count ~~191~~172 Number Of Loans Paid In Full 1918 Ending Scheduled Collateral Loan Count ~~172~~154 Beginning Scheduled Collateral Balance 8070,~~290~~759,~~239~~265.2948 Ending Scheduled Collateral Balance 7062,~~759~~803,~~265~~023.4878 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 7062,~~819~~857,~~927~~567.2966 Monthly P &I Constant ~~503~~445,~~229~~732.0520 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 97,~~526~~945,~~834~~135.6861 Ending Scheduled Balance for Premium Loans 7062,~~759~~803,~~265~~023.4878 Scheduled Principal 7871,~~694~~718.1531 Unscheduled Principal 97,~~452~~884,~~279~~523.6639

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage - Group 1 9291.~~473607~~853415% Senior Percentage - Group 2 91.~~900749~~465015% Senior Prepay Pct - Group 1 9695.~~236803~~926708% Senior Prepay Pct - Group 2 95.~~950374~~732507% Subordinate Percentage - Group 1 78.~~526393~~146585% Subordinate Percentage - Group 2 8.~~099251~~534985% Sub Prep Percentage Group 1 34.~~763197~~073292% Sub Prep Percentage Group 2 4.~~049626~~267493%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~275174~~261947 6.~~406132~~410218 6.~~345004~~342868 Weighted Average Net Rate 5.~~951206~~941721 6.~~031132~~035218 5.~~993824~~992748 Weighted Average Maturity 340 341 ~~342~~341 ~~342~~ Beginning Loan Count 8273 ~~109~~99 ~~191~~172 Loans Paid In Full 98 10 1918 Ending Loan Count 7365 9989 ~~172~~154 Beginning Scheduled Balance 3732,~~477~~141,~~468~~567.9390 4238,~~812~~617,~~770~~697.3658 8070,~~290~~759,~~239~~265.2948 Ending scheduled Balance 3228,~~141~~232,~~567~~970.9091 3834,~~617~~570,~~697~~052.5887 7062,~~759~~803,~~265~~023.4878 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~234~~203,~~808~~322.8755 ~~268~~242,~~420~~409.1865 ~~503~~445,~~229~~732.0520 Scheduled Principal 3835,~~827~~598.5155 3936,~~866~~119.6476 7871,~~694~~718.1531 Unscheduled Principal 53,~~297~~872,~~073~~998.5244 4,~~155~~011,~~206~~524.1495 97,~~452~~884,~~279~~523.6639 Scheduled Interest ~~195~~167,~~981~~724.3600 ~~228~~206,~~553~~289.5489 ~~424~~374,~~534~~013.9089 Servicing Fees 108,~~117~~577.9215 1312,~~378~~068.9903 2320,~~496~~645.9118 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~185~~159,~~863~~146.4485 ~~215~~194,~~174~~221.5586 ~~401~~353,~~037~~368.9971 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~951206~~941721 6.~~031132~~035218 5.~~993824~~992748

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERT SERIES 2002-3