8-K 1 bsa03ac2.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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-04 54-2120429 Pooling and Servicing Agreement) (Commission 54-2120430 (State or other File Number) 54-2120431 jurisdiction IRS EIN 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 ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-AC2 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 Asset-Backed Certificates, Series 2003-AC2 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC2 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 Asset- Backed Certificates, Series 2003-AC2 Trust, relating to the August 25, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 BSA Series: 2003-AC2 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 A-1 07384YHT6 SEN 4.46100% 9592,~~796~~204,~~590~~842.0842 ~~356~~342,~~123~~771.8250 34,~~591~~823,~~747~~755.6608 A-2 07384YHU3 SEN 4.45500% 3332,~~528~~271,~~806~~694.5385 ~~124~~119,~~475~~808.6967 1,~~257~~688,~~111~~314.6828 A-3 07384YHV1 SEN 3.50000% 9488,~~506~~960,~~103~~588.2251 ~~275~~259,~~642~~468.8038 57,~~545~~447,~~514~~684.7190 A-4 07384YHW9 SEN 5.00000% 53,400,000.00 222,500.00 0.00 A-IO 07384YHX7 IO 5.00000% 0.00 209,375.00 0.00 M-1 07384YHY5 MEZ 4.95800% 1716,~~626~~965,~~572~~691.5701 7270,~~827~~096.1258 ~~660~~887,~~881~~570.5794 M-2 07384YHZ2 MEZ 5.45900% 12,~~820~~339,~~457~~774.6506 5856,~~322~~135.4069 ~~480~~645,~~683~~563.5914 B-1 07384YJA5 SUB 4.~~53500~~60000% 65,~~122~~892,~~360~~811.0748 23,~~137~~342.4208 ~~229~~308,~~548~~286.5919 B-2 07384YJB3 SUB 4.~~53500~~60000% 6,992,440.00 2627,~~425~~697.6083 0.00 R-1 07384YJE7 RES 0.00000% 0.00 0.00 0.00 R-2 07384YJF4 RES 0.00000% 0.00 0.00 0.00 R-3 07384YJG2 RES 0.00000% 0.00 0.00 0.00 C 07384YJD9 SEN 0.00000% 0.00 0.00 0.00 P 07384YJC1 SEN 0.00000% 100.00 ~~5,316~~0.5700 0.00 Totals ~~320~~309,~~793~~027,~~430~~942.1233 1,~~374~~331,~~146~~195.4273 1115,~~765~~801,~~487~~174.8053

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 9287,~~204~~381,~~842~~087.4234 35,~~947~~166,~~871~~526.4858 0.00 A-2 0.00 3230,~~271~~583,~~694~~380.8557 1,~~381~~808,~~587~~122.3795 0.00 A-3 0.00 8881,~~960~~512,~~588~~903.5161 57,~~821~~707,~~157~~153.5128 0.00 A-4 0.00 53,400,000.00 222,500.00 0.00 A-IO 0.00 0.00 209,375.00 0.00 M-1 0.00 16,~~965~~078,~~691~~120.0107 ~~733~~957,~~708~~667.6952 0.00 M-2 0.00 1211,~~339~~694,~~774~~210.0692 ~~539~~701,~~005~~698.9983 0.00 B-1 0.00 5,~~892~~584,~~811~~525.4829 ~~252~~331,~~686~~628.0127 0.00 B-2 0.00 6,992,440.00 2627,~~425~~697.6083 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 C 0.00 0.00 0.00 0.00 P 0.00 100.00 ~~5,316~~0.5700 0.00 Totals 0.00 ~~309~~293,~~027~~226,~~942~~767.3380 1317,~~139~~132,~~634~~370.2226 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) A-1 100,000,000.00 9592,~~796~~204,~~590~~842.0842 0.00 ~~3,591,747~~0.6600 0.00 0.00 A-2 35,000,000.00 3332,~~528~~271,~~806~~694.5385 0.00 ~~1,257,111~~0.6800 0.00 0.00 A-3 100,996,000.00 9488,~~506~~960,~~103~~588.2251 0.00 07,447,684.0090 0.00 0.00 A-4 53,400,000.00 53,400,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 18,400,000.00 1716,~~626~~965,~~572~~691.5701 0.00 ~~660~~887,~~881~~570.5794 0.00 0.00 M-2 13,383,000.00 12,~~820~~339,~~457~~774.6506 0.00 ~~480~~645,~~683~~563.5914 0.00 0.00 B-1 6,391,000.00 65,~~122~~892,~~360~~811.0748 0.00 ~~229~~308,~~548~~286.5919 0.00 0.00 B-2 6,992,440.00 6,992,440.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 334,562,540.00 ~~320~~309,~~793~~027,~~430~~942.1233 0.00 69,~~219~~289,~~973~~105.0917 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 A-1 34,~~591~~823,~~747~~755.6608 9287,~~204~~381,~~842~~087.4234 0.~~92204842~~87381087 34,~~591~~823,~~747~~755.6608 A-2 1,~~257~~688,~~111~~314.6828 3230,~~271~~583,~~694~~380.8557 0.~~92204842~~87381087 1,~~257~~688,~~111~~314.6828 A-3 57,~~545~~447,~~514~~684.7190 8881,~~960~~512,~~588~~903.5161 0.~~88083279~~80709042 57,~~545~~447,~~514~~684.7190 A-4 0.00 53,400,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 ~~660~~887,~~881~~570.5794 16,~~965~~078,~~691~~120.0107 0.~~92204842~~87381087 ~~660~~887,~~881~~570.5794 M-2 ~~480~~645,~~683~~563.5914 1211,~~339~~694,~~774~~210.0692 0.~~92204842~~87381087 ~~480~~645,~~683~~563.5914 B-1 ~~229~~308,~~548~~286.5919 5,~~892~~584,~~811~~525.4829 0.~~92204842~~87381087 ~~229~~308,~~548~~286.5919 B-2 0.00 6,992,440.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 C 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1115,~~765~~801,~~487~~174.8053 ~~309~~293,~~027~~226,~~942~~767.3380 0.~~92367765~~87644830 1115,~~765~~801,~~487~~174.8053

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 100,000,000.00 ~~957~~922.~~96590080~~04842420 0.00000000 350.~~91747660~~00000000 0.00000000 A-2 35,000,000.00 ~~957~~922.~~96590086~~04842429 0.00000000 350.~~91747657~~00000000 0.00000000 A-3 100,996,000.00 ~~935~~880.~~74105133~~83279051 0.00000000 073.~~00000000~~74237495 0.00000000 A-4 53,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 18,400,000.00 ~~957~~922.~~96590054~~04842446 0.00000000 3548.~~91747663~~23755109 0.00000000 M-2 13,383,000.00 ~~957~~922.~~96590077~~04842412 0.00000000 3548.~~91747665~~23755062 0.00000000 B-1 6,391,000.00 ~~957~~922.~~96590049~~04842435 0.00000000 3548.~~91747614~~23755124 0.00000000 B-2 6,992,440.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 3548.~~91747660~~23755080 ~~922~~873.~~04842420~~81087340 0.~~92204842~~87381087 3548.~~91747660~~23755080 A-2 0.00000000 3548.~~91747657~~23755086 ~~922~~873.~~04842429~~81087343 0.~~92204842~~87381087 3548.~~91747657~~23755086 A-3 0.00000000 5473.~~90826082~~74237495 ~~880~~807.~~83279051~~09041556 0.~~88083279~~80709042 5473.~~90826082~~74237495 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 3548.~~91747663~~23755109 ~~922~~873.~~04842446~~81087337 0.~~92204842~~87381087 3548.~~91747663~~23755109 M-2 0.00000000 3548.~~91747665~~23755062 ~~922~~873.~~04842412~~81087350 0.~~92204842~~87381087 3548.~~91747665~~23755062 B-1 0.00000000 3548.~~91747614~~23755124 ~~922~~873.~~04842435~~81087310 0.~~92204842~~87381087 3548.~~91747614~~23755124 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (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 A-1 100,000,000.00 4.46100% 9592,~~796~~204,~~590~~842.0842 ~~356~~342,~~123~~771.8250 0.00 0.00 A-2 35,000,000.00 4.45500% 3332,~~528~~271,~~806~~694.5385 ~~124~~119,~~475~~808.6967 0.00 0.00 A-3 100,996,000.00 3.50000% 9488,~~506~~960,~~103~~588.2251 ~~275~~259,~~642~~468.8038 0.00 0.00 A-4 53,400,000.00 5.00000% 53,400,000.00 222,500.00 0.00 0.00 A-IO 0.00 5.00000% 50,250,000.00 209,375.00 0.00 0.00 M-1 18,400,000.00 4.95800% 1716,~~626~~965,~~572~~691.5701 7270,~~827~~096.1258 0.00 0.00 M-2 13,383,000.00 5.45900% 12,~~820~~339,~~457~~774.6506 5856,~~322~~135.4069 0.00 0.00 B-1 6,391,000.00 4.~~53500~~60000% 65,~~122~~892,~~360~~811.0748 23,~~137~~342.4208 0.00 0.00 B-2 6,992,440.00 4.~~53500~~60000% 6,992,440.00 2627,~~425~~697.6083 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 C 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 334,562,540.00 1,~~368~~331,~~829~~195.8573 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 A-1 0.00 0.00 ~~356~~342,~~123~~771.8250 0.00 9287,~~204~~381,~~842~~087.4234 A-2 0.00 0.00 ~~124~~119,~~475~~808.6967 0.00 3230,~~271~~583,~~694~~380.8557 A-3 0.00 0.00 ~~275~~259,~~642~~468.8038 0.00 8881,~~960~~512,~~588~~903.5161 A-4 0.00 0.00 222,500.00 0.00 53,400,000.00 A-IO 0.00 0.00 209,375.00 0.00 50,250,000.00 M-1 0.00 0.00 7270,~~827~~096.1258 0.00 16,~~965~~078,~~691~~120.0107 M-2 0.00 0.00 5856,~~322~~135.4069 0.00 1211,~~339~~694,~~774~~210.0692 B-1 0.00 0.00 23,~~137~~342.4208 0.00 5,~~892~~584,~~811~~525.4829 B-2 0.00 0.00 2627,~~425~~697.6083 0.00 6,992,440.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 ~~5,316~~0.5700 0.00 100.00 Totals 0.00 0.00 1,~~374~~331,~~146~~195.4273 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 A-1 100,000,000.00 4.46100% ~~957~~922.~~96590080~~04842420 3.~~56123820~~42771500 0.00000000 0.00000000 A-2 35,000,000.00 4.45500% ~~957~~922.~~96590086~~04842429 3.~~55644829~~42310486 0.00000000 0.00000000 A-3 100,996,000.00 3.50000% ~~935~~880.~~74105133~~83279051 2.~~72924472~~56909561 0.00000000 0.00000000 A-4 53,400,000.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 M-1 18,400,000.00 4.95800% ~~957~~922.~~96590054~~04842446 3.~~95799565~~80959674 0.00000000 0.00000000 M-2 13,383,000.00 5.45900% ~~957~~922.~~96590077~~04842412 4.~~35794665~~19455204 0.00000000 0.00000000 B-1 6,391,000.00 4.~~53500~~60000% ~~957~~922.~~96590049~~04842435 3.~~62031294~~65233610 0.00000000 0.00000000 B-2 6,992,440.00 4.~~53500~~60000% 1000.00000000 3.~~77916721~~96111086 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 A-1 0.00000000 0.00000000 3.~~56123820~~42771500 0.00000000 ~~922~~873.~~04842420~~81087340 A-2 0.00000000 0.00000000 3.~~55644829~~42310486 0.00000000 ~~922~~873.~~04842429~~81087343 A-3 0.00000000 0.00000000 2.~~72924472~~56909561 0.00000000 ~~880~~807.~~83279051~~09041556 A-4 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.~~95799565~~80959674 0.00000000 ~~922~~873.~~04842446~~81087337 M-2 0.00000000 0.00000000 4.~~35794665~~19455204 0.00000000 ~~922~~873.~~04842412~~81087350 B-1 0.00000000 0.00000000 3.~~62031294~~65233610 0.00000000 ~~922~~873.~~04842435~~81087310 B-2 0.00000000 0.00000000 3.~~77916721~~96111086 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~53165~~0.~~70000000~~00000000 0.00000000 1000.00000000 (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 1317,~~158~~150,~~082~~753.6586 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3852,~~208~~889.6047 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1317,~~196~~203,~~291~~643.2533 Withdrawals Reimbursement for Servicer Advances 1838,~~965~~208.1060 Payment of Service Fee 3733,~~691~~064.9347 Payment of Interest and Principal 1317,~~139~~132,~~634~~370.2226 Total Withdrawals (Pool Distribution Amount) 1317,~~196~~203,~~291~~643.2533 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 3436,~~875~~963.8971 Servicing Fee Support 3436,~~875~~963.8971 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 6664,~~934~~583.0803 Master Servicing Fee 5,~~354~~166.7263 Miscellaneous Fee ~~279~~278.0252 Supported Prepayment/Curtailment Interest Shortfall 3436,~~875~~963.8971 Net Servicing Fee 3733,~~691~~064.9347

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 1211 0 0 0 1211 23,~~808~~779,~~219~~138.7678 0.00 0.00 0.00 23,~~808~~779,~~219~~138.7678 60 Days 86 0 0 0 86 21,~~080~~422,~~388~~774.4843 0.00 0.00 0.00 21,~~080~~422,~~388~~774.4843 90 Days 27 0 0 0 27 ~~311~~1,~~780~~999,359.7271 0.00 0.00 0.00 ~~311~~1,~~780~~999,359.7271 120 Days 1 0 0 0 1 ~~150~~127,~~550~~895.0008 0.00 0.00 0.00 ~~150~~127,~~550~~895.0008 150 Days 01 0 0 0 01 0150,550.00 0.00 0.00 0.00 0150,550.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2326 0 0 0 2326 57,~~350~~479,~~938~~718.9600 0.00 0.00 0.00 57,~~350~~479,~~938~~718.9600 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 10.~~016949~~965759% 0.000000% 0.000000% 0.000000% 10.~~016949~~965759% 01.~~905095~~281436% 0.000000% 0.000000% 0.000000% 01.~~905095~~281436% 60 Days 0.~~677966~~526778% 0.000000% 0.000000% 0.000000% 0.~~677966~~526778% 0.~~670513~~482437% 0.000000% 0.000000% 0.000000% 0.~~670513~~482437% 90 Days 0.~~169492~~614574% 0.000000% 0.000000% 0.000000% 0.~~169492~~614574% 0.~~100488~~677946% 0.000000% 0.000000% 0.000000% 0.~~100488~~677946% 120 Days 0.~~084746~~087796% 0.000000% 0.000000% 0.000000% 0.~~084746~~087796% 0.~~048523~~043367% 0.000000% 0.000000% 0.000000% 0.~~048523~~043367% 150 Days 0.~~000000~~087796% 0.000000% 0.000000% 0.000000% 0.~~000000~~087796% 0.~~000000~~051049% 0.000000% 0.000000% 0.000000% 0.~~000000~~051049% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~949153~~282704% 0.000000% 0.000000% 0.000000% 12.~~949153~~282704% 12.~~724618~~536235% 0.000000% 0.000000% 0.000000% 12.~~724618~~536235%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3852,~~208~~889.6047

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 7.~~179204~~175880% Weighted Average Net Coupon 6.~~929204~~925880% Weighted Average Pass-Through Rate 6.~~908162~~904802% Weighted Average Maturity(Stepdown Calculation ) ~~333~~332 Beginning Scheduled Collateral Loan Count 1,~~214~~180 Number Of Loans Paid In Full 3441 Ending Scheduled Collateral Loan Count 1,~~180~~139 Beginning Scheduled Collateral Balance ~~321~~309,~~283~~998,~~443~~691.7824 Ending Scheduled Collateral Balance ~~309~~294,~~998~~650,~~691~~053.2481 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~310~~294,~~267~~914,~~979~~285.8854 Monthly P &I Constant 2,~~240~~163,~~951~~800.5753 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~309~~294,~~998~~650,~~691~~053.2481 Scheduled Principal ~~318~~310,~~640~~039.6946 Unscheduled Principal 1015,~~966~~038,~~111~~597.8597 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~480~~452,~~735~~537.2610 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,672,812.00 Overcollateralized Amount ~~490~~1,~~113~~423,386.5902 Overcollateralized Deficiency Amount 1249,~~182,698~~425.4198 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~480~~452,~~735~~537.2610 Excess Cash Amount ~~486~~452,~~051~~537.8310

Miscellaneous Reporting Three month rolling average 0.~~003367~~007400%

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC ASSET BK CERT SER 03 AC2