8-K 1 bst03001.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 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-19 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) 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 2003-1 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 2003-1 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 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., Master Servicer 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 2003-1 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: 2003-1 Contact: CTSLink Customer Service Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07384MTH5 SEN 5.~~06739~~06095% ~~214~~204,~~212~~222,~~183~~531.1909 ~~904~~860,~~437~~057.1347 916,~~989~~428,~~652~~450.0998 II-A-1 07384MTJ1 SEN 5.~~41503~~40967% 9792,~~595~~425,~~585~~279.1902 ~~440~~416,~~332~~058.1501 511,~~170~~810,~~306~~535.1713 III-A-1 07384MTK8 SEN 5.~~44750~~43830% ~~162~~146,~~439~~423,~~032~~945.4791 ~~737~~662,~~288~~624.5007 1629,~~015~~694,~~086~~028.5660 IV-A-1 07384MTL6 SEN 4.~~53726~~53627% 2321,~~196~~416,~~039~~536.5550 8780,~~691~~842.4956 12,~~779~~675,~~503~~470.0581 V-A-1 07384MTM4 SEN 5.~~46786~~46280% ~~156~~144,~~703~~555,~~546~~689.7136 ~~713~~657,~~914~~117.5201 1217,~~147~~451,~~857~~996.3578 VI-A-1 07384MTN2 SEN 5.~~21566~~21394% ~~226~~207,~~506~~718,~~266~~526.9526 ~~984~~901,~~326~~224.1892 1824,~~787~~525,~~740~~999.7080 VII-A-1 07384MTP7 SEN 3.81200% 6461,~~891~~203,~~474~~060.7096 ~~206~~194,~~105~~141.8440 36,~~688~~798,~~413~~888.7494 VII-A-X 07384MTQ5 SEN 1.~~44197~~43831% 0.00 7773,~~963~~251.8570 0.00 VIII-A-1 07384MTR3 SEN 4.~~98692~~98888% 2019,~~245~~881,~~614~~133.8339 8482,~~122~~534.6560 ~~364~~670,~~481~~784.4490 VIII-A-X 07384MTS1 SEN 0.38300% 0.00 6,~~460~~336.7025 0.00 R-I 07384MTU6 SEN 5.~~08045~~08090% 0.00 0.00 0.00 R-II 07384MTV4 SEN 5.~~08045~~08090% 0.00 0.00 0.00 R-III 07384MTW2 SEN 5.~~08045~~08090% 0.00 0.00 0.00 M 07384MTT9 MEZ 5.~~27311~~26813% 43,~~890~~856,~~610~~967.7231 192,~~835~~259.9324 33,~~643~~962.4041 B-1 07384MTX0 SUB 5.~~27311~~26813% 13,~~459~~449,~~855~~537.0872 5958,~~136~~959.6580 10,~~317~~415.3619 B-2 07384MTY8 SUB 5.~~27311~~26813% 9,~~948~~940,~~610~~984.2132 43,~~709~~579.7908 7,~~625~~698.8920 B-3 07384MTZ5 SUB 5.~~27311~~26813% 7,~~022~~017,~~489~~106.7480 30,~~853~~761.7144 5,~~382~~433.9498 B-4 07384MUA8 SUB 5.~~27311~~26813% 3,~~511~~508,~~145~~453.1778 15,~~426~~380.4228 2,~~691~~716.3991 B-5 07384MUB6 SUB 5.~~27311~~26813% 1,~~755~~754,~~572~~226.5989 7,~~713~~690.2114 1,~~345~~358.7046 B-6 07384MUC4 SUB 5.~~27311~~26813% 2,~~341~~339,~~413~~619.8105 10,~~287~~256.1437 1,~~794~~811.7678 Totals 1979,~~047~~713,~~719,440~~598.9136 4,~~602~~293,~~605~~074.8634 68110,~~005~~119,~~842~~552.5487

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~204~~187,~~222~~794,~~531~~080.0912 1017,~~894~~288,~~089~~508.2245 0.00 II-A-1 0.00 9280,~~425~~614,~~279~~743.0289 512,~~610~~226,~~638~~593.3214 0.00 III-A-1 0.00 ~~146~~116,~~423~~729,~~945~~917.9132 1630,~~752~~356,~~375~~652.0667 0.00 IV-A-1 0.00 2118,~~416~~741,~~536~~065.5069 12,~~867~~756,~~194~~313.5437 0.00 V-A-1 0.00 ~~144~~127,~~555~~103,~~689~~692.3659 1218,~~861~~109,~~771~~113.8779 0.00 VI-A-1 0.00 ~~207~~183,~~718~~192,526.2646 1925,~~772~~427,~~066~~224.8872 0.00 VII-A-1 0.00 6154,~~203~~404,~~060~~172.9602 36,~~894~~993,~~519~~030.5834 0.00 VII-A-X 0.00 0.00 7773,~~963~~251.8570 0.00 VIII-A-1 0.00 19,~~881~~210,~~133~~348.3949 ~~448~~753,~~604~~319.0950 0.00 VIII-A-X 0.00 0.00 6,~~460~~336.7025 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 M 0.00 43,~~856~~823,~~967~~004.3190 226,~~479~~221.3365 0.00 B-1 0.00 13,~~449~~439,~~537~~122.7253 69,~~454~~374.0199 0.00 B-2 0.00 9,~~940~~933,~~984~~286.3212 51,~~335~~277.6828 0.00 B-3 0.00 7,~~017~~011,~~106~~672.8082 36,~~236~~195.6542 0.00 B-4 0.00 3,~~508~~505,~~453~~736.7887 18,~~117~~097.8119 0.00 B-5 0.00 1,~~754~~752,~~226~~868.8943 9,~~058~~048.9160 0.00 B-6 0.00 2,~~339~~337,~~619~~807.0527 12,~~081~~068.9015 0.00 Totals 0.00 ~~979~~869,~~713~~594,~~598~~045.3652 72114,~~608~~412,~~448~~627.4021 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-1 239,692,900.00 ~~214~~204,~~212~~222,~~183~~531.1909 ~~148~~142,~~857~~269.3348 916,~~840~~286,~~794~~181.7650 0.00 0.00 II-A-1 113,342,700.00 9792,~~595~~425,~~585~~279.1902 7473,~~309~~800.6602 511,~~095~~736,~~996~~735.5111 0.00 0.00 III-A-1 190,689,900.00 ~~162~~146,~~439~~423,~~032~~945.4791 ~~135~~123,~~024~~669.6447 1529,~~880~~570,~~061~~359.9213 0.00 0.00 IV-A-1 25,928,500.00 2321,~~196~~416,~~039~~536.5550 2927,~~651~~538.4723 12,~~749~~647,~~851~~932.58 0.00 0.00 V-A-1 167,595,200.00 ~~156~~144,~~703~~555,~~546~~689.7136 9587,~~685~~502.4878 1217,~~052~~364,~~171~~494.8700 0.00 0.00 VI-A-1 254,617,100.00 ~~226~~207,~~506~~718,~~266~~526.9526 ~~182~~167,~~210~~407.3433 1824,~~605~~358,~~530~~592.3647 0.00 0.00 VII-A-1 74,817,300.00 6461,~~891~~203,~~474~~060.7096 5655,~~862~~068.1983 36,~~631~~743,~~551~~820.5511 0.00 0.00 VII-A-X 0.00 0.00 0.00 0.00 0.00 0.00 VIII-A-1 25,110,300.00 2019,~~245~~881,~~614~~133.8339 15,~~889~~592.6310 ~~348~~655,~~591~~192.8180 0.00 0.00 VIII-A-X 0.00 0.00 0.00 0.00 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 100.00 0.00 0.00 0.00 0.00 0.00 R-III 100.00 0.00 0.00 0.00 0.00 0.00 M 44,023,800.00 43,~~890~~856,~~610~~967.7231 33,~~643~~962.4041 0.00 0.00 0.00 B-1 13,500,700.00 13,~~459~~449,~~855~~537.0872 10,~~317~~415.3619 0.00 0.00 0.00 B-2 9,978,800.00 9,~~948~~940,~~610~~984.2132 7,~~625~~698.8920 0.00 0.00 0.00 B-3 7,043,800.00 7,~~022~~017,~~489~~106.7480 5,~~382~~433.9498 0.00 0.00 0.00 B-4 3,521,800.00 3,~~511~~508,~~145~~453.1778 2,~~691~~716.3991 0.00 0.00 0.00 B-5 1,760,900.00 1,~~755~~754,~~572~~226.5989 1,~~345~~358.7046 0.00 0.00 0.00 B-6 2,348,519.00 2,~~341~~339,~~413~~619.8105 1,~~794~~811.7678 0.00 0.00 0.00 Totals 1,173,972,519.00 1979,~~047~~713,~~719,440~~598.9136 ~~801~~756,~~292~~245.1817 67109,~~204~~363,~~550~~307.3670 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-1 916,~~989~~428,~~652~~450.0998 ~~204~~187,~~222~~794,~~531~~080.0912 0.~~85201744~~78347786 916,~~989~~428,~~652~~450.0998 II-A-1 511,~~170~~810,~~306~~535.1713 9280,~~425~~614,~~279~~743.0289 0.~~81544977~~71124778 511,~~170~~810,~~306~~535.1713 III-A-1 1629,~~015~~694,~~086~~028.5660 ~~146~~116,~~423~~729,~~945~~917.9132 0.~~76786419~~61214525 1629,~~015~~694,~~086~~028.5660 IV-A-1 12,~~779~~675,~~503~~470.0581 2118,~~416~~741,~~536~~065.5069 0.~~82598440~~72279791 12,~~779~~675,~~503~~470.0581 V-A-1 1217,~~147~~451,~~857~~996.3578 ~~144~~127,~~555~~103,~~689~~692.3659 0.~~86252882~~75839697 1217,~~147~~451,~~857~~996.3578 VI-A-1 1824,~~787~~525,~~740~~999.7080 ~~207~~183,~~718~~192,526.2646 0.~~81580745~~71948242 1824,~~787~~525,~~740~~999.7080 VII-A-1 36,~~688~~798,~~413~~888.7494 6154,~~203~~404,~~060~~172.9602 0.~~81803354~~72716032 36,~~688~~798,~~413~~888.7494 VII-A-X 0.00 0.00 0.00000000 0.00 VIII-A-1 ~~364~~670,~~481~~784.4490 19,~~881~~210,~~133~~348.3949 0.~~79175213~~76503859 ~~364~~670,~~481~~784.4490 VIII-A-X 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 M 33,~~643~~962.4041 43,~~856~~823,~~967~~004.3190 0.~~99621040~~99543894 33,~~643~~962.4041 B-1 10,~~317~~415.3619 13,~~449~~439,~~537~~122.7253 0.~~99621040~~99543894 10,~~317~~415.3619 B-2 7,~~625~~698.8920 9,~~940~~933,~~984~~286.3212 0.~~99621040~~99543894 7,~~625~~698.8920 B-3 5,~~382~~433.9498 7,~~017~~011,~~106~~672.8082 0.~~99621040~~99543894 5,~~382~~433.9498 B-4 2,~~691~~716.3991 3,~~508~~505,~~453~~736.7887 0.~~99621040~~99543894 2,~~691~~716.3991 B-5 1,~~345~~358.7046 1,~~754~~752,~~226~~868.8943 0.~~99621040~~99543894 1,~~345~~358.7046 B-6 1,~~794~~811.7678 2,~~339~~337,~~619~~807.0527 0.~~99621040~~99543894 1,~~794~~811.7678 Totals 68110,~~005~~119,~~842~~552.5487 ~~979~~869,~~713~~594,~~598~~045.3652 0.~~83452856~~74072777 68110,~~005~~119,~~842~~552.5487

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 239,692,900.00 ~~893~~852.~~69431965~~01744019 0.~~62103354~~59354900 4167.~~05584588~~94603219 0.00000000 II-A-1 113,342,700.00 ~~861~~815.~~06635178~~44977330 0.~~65561929~~65112283 44103.~~96095920~~55086927 0.00000000 III-A-1 190,689,900.00 ~~851~~767.~~84916700~~86419160 0.~~70808491~~64853708 83155.~~27689049~~07040032 0.00000000 IV-A-1 25,928,500.00 ~~894~~825.~~61556010~~98439941 1.~~14358602~~06208342 67102.~~48757468~~12440288 0.00000000 V-A-1 167,595,200.00 ~~935~~862.~~01214062~~52881562 0.~~57093210~~52210791 71103.~~91239290~~60973345 0.00000000 VI-A-1 254,617,100.00 ~~889~~815.~~59565933~~80744679 0.~~71562491~~65748659 7395.~~07258766~~66754342 0.00000000 VII-A-1 74,817,300.00 ~~867~~818.~~33248460~~03354251 0.~~76001393~~73604407 4890.~~53892816~~13717563 0.00000000 VII-A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 VIII-A-1 25,110,300.00 ~~806~~791.~~26734169~~75212522 0.~~63279332~~62094439 1326.~~88242315~~09259149 0.00000000 VIII-A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 100.00 0.00000000 0.00000000 0.00000000 0.00000000 M 44,023,800.00 996.~~97460737~~21039778 0.~~76420936~~77145567 0.00000000 0.00000000 B-1 13,500,700.00 996.~~97460724~~21039798 0.~~76420926~~77145555 0.00000000 0.00000000 B-2 9,978,800.00 996.~~97460717~~21039804 0.~~76420912~~77145549 0.00000000 0.00000000 B-3 7,043,800.00 996.~~97460746~~21039780 0.~~76420966~~77145575 0.00000000 0.00000000 B-4 3,521,800.00 996.~~97460674~~21039809 0.~~76420864~~77145494 0.00000000 0.00000000 B-5 1,760,900.00 996.~~97460957~~21039809 0.~~76421148~~77145778 0.00000000 0.00000000 B-6 2,348,519.00 996.~~97460825~~21039898 0.~~76420927~~77145639 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 4168.~~67687942~~53958119 ~~852~~783.~~01744019~~47785904 0.~~85201744~~78347786 4168.~~67687942~~53958119 II-A-1 0.00000000 45104.~~61657848~~20199210 ~~815~~711.~~44977330~~24778120 0.~~81544977~~71124778 45104.~~61657848~~20199210 III-A-1 0.00000000 83155.~~98497540~~71893740 ~~767~~612.~~86419160~~14525426 0.~~76786419~~61214525 83155.~~98497540~~71893740 IV-A-1 0.00000000 68103.~~63116069~~18648630 ~~825~~722.~~98439941~~79791311 0.~~82598440~~72279791 68103.~~63116069~~18648630 V-A-1 0.00000000 72104.~~48332500~~13184137 ~~862~~758.~~52881562~~39697432 0.~~86252882~~75839697 72104.~~48332500~~13184137 VI-A-1 0.00000000 7396.~~78821257~~32503002 ~~815~~719.~~80744679~~48241677 0.~~81580745~~71948242 7396.~~78821257~~32503002 VII-A-1 0.00000000 4990.~~29894209~~87321970 ~~818~~727.~~03354251~~16032281 0.~~81803354~~72716032 4990.~~29894209~~87321970 VII-A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 VIII-A-1 0.00000000 1426.~~51521646~~71353588 ~~791~~765.~~75212522~~03858934 0.~~79175213~~76503859 1426.~~51521646~~71353588 VIII-A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.00000000 0.~~76420936~~77145567 ~~996~~995.~~21039778~~43894212 0.~~99621040~~99543894 0.~~76420936~~77145567 B-1 0.00000000 0.~~76420926~~77145555 ~~996~~995.~~21039798~~43894243 0.~~99621040~~99543894 0.~~76420926~~77145555 B-2 0.00000000 0.~~76420912~~77145549 ~~996~~995.~~21039804~~43894256 0.~~99621040~~99543894 0.~~76420912~~77145549 B-3 0.00000000 0.~~76420966~~77145575 ~~996~~995.~~21039780~~43894205 0.~~99621040~~99543894 0.~~76420966~~77145575 B-4 0.00000000 0.~~76420864~~77145494 ~~996~~995.~~21039809~~43894315 0.~~99621040~~99543894 0.~~76420864~~77145494 B-5 0.00000000 0.~~76421148~~77145778 ~~996~~995.~~21039809~~43894031 0.~~99621040~~99543894 0.~~76421148~~77145778 B-6 0.00000000 0.~~76420927~~77145639 ~~996~~995.~~21039898~~43894258 0.~~99621040~~99543894 0.~~76420927~~77145639 (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-1 239,692,900.00 5.~~06739~~06095% ~~214~~204,~~212~~222,~~183~~531.1909 ~~904~~861,~~580~~299.8331 0.00 0.00 II-A-1 113,342,700.00 5.~~41503~~40967% 9792,~~595~~425,~~585~~279.1902 ~~440~~416,~~402~~658.1075 0.00 0.00 III-A-1 190,689,900.00 5.~~44750~~43830% ~~162~~146,~~439~~423,~~032~~945.4791 ~~737~~663,~~405~~580.6484 0.00 0.00 IV-A-1 25,928,500.00 4.~~53726~~53627% 2321,~~196~~416,~~039~~536.5550 8780,~~705~~959.4329 0.00 0.00 V-A-1 167,595,200.00 5.~~46786~~46280% ~~156~~144,~~703~~555,~~546~~689.7136 ~~714~~658,~~027~~065.9483 0.00 0.00 VI-A-1 254,617,100.00 5.~~21566~~21394% ~~226~~207,~~506~~718,~~266~~526.9526 ~~984~~902,~~482~~526.5620 0.00 0.00 VII-A-1 74,817,300.00 3.81200% 6461,~~891~~203,~~474~~060.7096 ~~206~~194,~~138~~421.5872 0.00 0.00 VII-A-X 0.00 1.~~44197~~43831% 6461,~~891~~203,~~474~~060.7096 7773,~~976~~357.2447 0.00 0.00 VIII-A-1 25,110,300.00 4.~~98692~~98888% 2019,~~245~~881,~~614~~133.8339 8482,~~136~~653.0177 0.00 0.00 VIII-A-X 0.00 0.38300% 2019,~~245~~881,~~614~~133.8339 6,~~461~~345.7340 0.00 0.00 R-I 100.00 5.~~08045~~08090% 0.00 0.00 0.00 0.00 R-II 100.00 5.~~08045~~08090% 0.00 0.00 0.00 0.00 R-III 100.00 5.~~08045~~08090% 0.00 0.00 0.00 0.00 M 44,023,800.00 5.~~27311~~26813% 43,~~890~~856,~~610~~967.7231 192,~~866~~536.5784 0.00 0.00 B-1 13,500,700.00 5.~~27311~~26813% 13,~~459~~449,~~855~~537.0872 59,~~146~~044.0493 0.00 0.00 B-2 9,978,800.00 5.~~27311~~26813% 9,~~948~~940,~~610~~984.2132 43,~~716~~642.7400 0.00 0.00 B-3 7,043,800.00 5.~~27311~~26813% 7,~~022~~017,~~489~~106.7480 30,~~858~~805.6286 0.00 0.00 B-4 3,521,800.00 5.~~27311~~26813% 3,~~511~~508,~~145~~453.1778 15,~~428~~402.8749 0.00 0.00 B-5 1,760,900.00 5.~~27311~~26813% 1,~~755~~754,~~572~~226.5989 7,~~714~~701.4325 0.00 0.00 B-6 2,348,519.00 5.~~27311~~26813% 2,~~341~~339,~~413~~619.8105 10,~~288~~271.7718 0.00 0.00 Totals 1,173,972,519.00 4,~~603~~299,~~337~~273.1013 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-1 ~~143~~1,241.6984 0.00 ~~904~~860,~~437~~057.1347 0.00 ~~204~~187,~~222~~794,~~531~~080.0912 II-A-1 69600.9675 0.00 ~~440~~416,~~332~~058.1501 0.00 9280,~~425~~614,~~279~~743.0289 III-A-1 ~~117~~956.1476 0.00 ~~737~~662,~~288~~624.5007 0.00 ~~146~~116,~~423~~729,~~945~~917.9132 IV-A-1 13116.9373 0.00 8780,~~691~~842.4956 0.00 2118,~~416~~741,~~536~~065.5069 V-A-1 ~~113~~948.4281 0.00 ~~713~~657,~~914~~117.5201 0.00 ~~144~~127,~~555~~103,~~689~~692.3659 VI-A-1 ~~156~~1,301.3928 0.00 ~~984~~901,~~326~~224.1892 0.00 ~~207~~183,~~718~~192,526.2646 VII-A-1 32280.7532 0.00 ~~206~~194,~~105~~141.8440 0.00 6154,~~203~~404,~~060~~172.9602 VII-A-X 12105.3977 0.00 7773,~~963~~251.8570 0.00 6154,~~203~~404,~~060~~172.9602 VIII-A-1 13119.3717 0.00 8482,~~122~~534.6560 0.00 19,~~881~~210,~~133~~348.3949 VIII-A-X 19.0315 0.00 6,~~460~~336.7025 0.00 19,~~881~~210,~~133~~348.3949 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 M 30277.6460 0.00 192,~~835~~259.9324 0.00 43,~~856~~823,~~967~~004.3190 B-1 985.4013 0.00 5958,~~136~~959.6580 0.00 13,~~449~~439,~~537~~122.7253 B-2 662.9492 0.00 43,~~709~~579.7908 0.00 9,~~940~~933,~~984~~286.3212 B-3 444.9042 0.00 30,~~853~~761.7144 0.00 7,~~017~~011,~~106~~672.8082 B-4 222.4521 0.00 15,~~426~~380.4228 0.00 3,~~508~~505,~~453~~736.7887 B-5 111.2310 0.00 7,~~713~~690.2114 0.00 1,~~754~~752,~~226~~868.8943 B-6 114.6381 0.00 10,~~287~~256.1437 0.00 2,~~339~~337,~~619~~807.0527 Totals ~~731~~6,198.2677 0.00 4,~~602~~293,~~605~~074.8634 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-1 239,692,900.00 5.~~06739~~06095% ~~893~~852.~~69431965~~01744019 3.~~77391583~~59334511 0.00000000 0.00000000 II-A-1 113,342,700.00 5.~~41503~~40967% ~~861~~815.~~06635178~~44977330 3.~~88557975~~67609692 0.00000000 0.00000000 III-A-1 190,689,900.00 5.~~44750~~43830% ~~851~~767.~~84916700~~86419160 3.~~86704089~~47989505 0.00000000 0.00000000 IV-A-1 25,928,500.00 4.~~53726~~53627% ~~894~~825.~~61556010~~98439941 3.~~38258789~~12240546 0.00000000 0.00000000 V-A-1 167,595,200.00 5.~~46786~~46280% ~~935~~862.~~01214062~~52881562 43.~~26043192~~92651955 0.00000000 0.00000000 VI-A-1 254,617,100.00 5.~~21566~~21394% ~~889~~815.~~59565933~~80744679 3.~~86652177~~54464095 0.00000000 0.00000000 VII-A-1 74,817,300.00 3.81200% ~~867~~818.~~33248460~~03354251 2.~~75522613~~59861984 0.00000000 0.00000000 VII-A-X 0.00 1.~~44197~~43831% ~~867~~818.~~33248460~~03354251 10.~~04222205~~98048807 0.00000000 0.00000000 VIII-A-1 25,110,300.00 4.~~98692~~98888% ~~806~~791.~~26734169~~75212522 3.~~35065730~~29162814 0.00000000 0.00000000 VIII-A-X 0.00 0.38300% ~~806~~791.~~26734169~~75212522 0.~~25733384~~25270108 0.00000000 0.00000000 R-I 100.00 5.~~08045~~08090% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 100.00 5.~~08045~~08090% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 100.00 5.~~08045~~08090% 0.00000000 0.00000000 0.00000000 0.00000000 M 44,023,800.00 5.~~27311~~26813% 996.~~97460737~~21039778 4.~~38096143~~37347162 0.00000000 0.00000000 B-1 13,500,700.00 5.~~27311~~26813% 996.~~97460724~~21039798 4.~~38096099~~37347175 0.00000000 0.00000000 B-2 9,978,800.00 5.~~27311~~26813% 996.~~97460717~~21039804 4.~~38096164~~37347176 0.00000000 0.00000000 B-3 7,043,800.00 5.~~27311~~26813% 996.~~97460746~~21039780 4.~~38096198~~37347171 0.00000000 0.00000000 B-4 3,521,800.00 5.~~27311~~26813% 996.~~97460674~~21039809 4.~~38096144~~37347095 0.00000000 0.00000000 B-5 1,760,900.00 5.~~27311~~26813% 996.~~97460957~~21039809 4.~~38095860~~37347379 0.00000000 0.00000000 B-6 2,348,519.00 5.~~27311~~26813% 996.~~97460825~~21039898 4.~~38096094~~37347111 0.00000000 0.00000000 (2) All Classes are per $1,000 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-1 0.~~00059948~~00518096 0.00000000 3.~~77331631~~58816415 0.00000000 ~~852~~783.~~01744019~~47785904 II-A-1 0.~~00061724~~00530030 0.00000000 3.~~88496260~~67079671 0.00000000 ~~815~~711.~~44977330~~24778120 III-A-1 0.~~00061430~~00501736 0.00000000 3.~~86642659~~47487764 0.00000000 ~~767~~612.~~86419160~~14525426 IV-A-1 0.~~00053725~~00450200 0.00000000 3.~~38205025~~11790347 0.00000000 ~~825~~722.~~98439941~~79791311 V-A-1 0.~~00067675~~00566132 0.00000000 43.~~25975517~~92085817 0.00000000 ~~862~~758.~~52881562~~39697432 VI-A-1 0.~~00061422~~00511073 0.00000000 3.~~86590759~~53953022 0.00000000 ~~815~~719.~~80744679~~48241677 VII-A-1 0.~~00043773~~00374673 0.00000000 2.~~75478853~~59487311 0.00000000 ~~818~~727.~~03354251~~16032281 VII-A-X 0.~~00016560~~00141371 0.00000000 10.~~04205645~~97907436 0.00000000 ~~818~~727.~~03354251~~16032281 VIII-A-1 0.~~00053245~~00474586 0.00000000 3.~~35012525~~28688228 0.00000000 ~~791~~765.~~75212522~~03858934 VIII-A-X 0.~~00004102~~00036439 0.00000000 0.~~25729282~~25233669 0.00000000 ~~791~~765.~~75212522~~03858934 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.~~00069599~~00630568 0.00000000 4.~~38026545~~36716594 0.00000000 ~~996~~995.~~21039778~~43894212 B-1 0.~~00069626~~00630560 0.00000000 4.~~38026547~~36716615 0.00000000 ~~996~~995.~~21039798~~43894243 B-2 0.~~00069547~~00630537 0.00000000 4.~~38026516~~36716639 0.00000000 ~~996~~995.~~21039804~~43894256 B-3 0.~~00069565~~00630626 0.00000000 4.~~38026491~~36716545 0.00000000 ~~996~~995.~~21039780~~43894205 B-4 0.~~00069567~~00630643 0.00000000 4.~~38026577~~36716452 0.00000000 ~~996~~995.~~21039809~~43894315 B-5 0.~~00069851~~00630359 0.00000000 4.~~38026577~~36716452 0.00000000 ~~996~~995.~~21039809~~43894031 B-6 0.~~00069405~~00630610 0.00000000 4.~~38026688~~36716501 0.00000000 ~~996~~995.~~21039898~~43894258 (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 72114,~~844~~612,~~330~~181.3370 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4340,~~150~~932.9239 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 72114,~~887~~653,~~481~~114.2509 Withdrawals Reimbursement for Servicer Advances 3843,~~599~~150.3792 Payment of Service Fee ~~240~~197,~~433~~335.4896 Payment of Interest and Principal 72114,~~608~~412,~~448~~627.4021 Total Withdrawals (Pool Distribution Amount) 72114,~~887~~653,~~481~~114.2509 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 4777,~~176~~198.8033 Servicing Fee Support 4670,~~445~~999.57 Non-Supported Prepayment/Curtailment Interest Shortfall ~~731~~6,198.2376

SERVICING FEES Gross Servicing Fee ~~267~~248,~~063~~965.4096 Additional Servicing Fees 18,~~525~~080.5746 Miscellaneous Fee 1,~~290~~289.0811 Supported Prepayment/Curtailment Interest Shortfall 4670,~~445~~999.57 Net Servicing Fee ~~240~~197,~~433~~335.4896

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 1613 0 0 0 1613 76,~~827~~726,~~395~~682.6840 0.00 0.00 0.00 76,~~827~~726,~~395~~682.6840 60 Days 02 0 0 0 02 0850,152.0037 0.00 0.00 0.00 0850,152.0037 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 1615 0 0 0 1615 7,~~827~~576,~~395~~834.6877 0.00 0.00 0.00 7,~~827~~576,~~395~~834.6877 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 0.~~758294~~686378% 0.000000% 0.000000% 0.000000% 0.~~758294~~686378% 0.~~798294~~773058% 0.000000% 0.000000% 0.000000% 0.~~798294~~773058% 60 Days 0.~~000000~~105597% 0.000000% 0.000000% 0.000000% 0.~~000000~~105597% 0.~~000000~~097703% 0.000000% 0.000000% 0.000000% 0.~~000000~~097703% 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 0.~~758294~~791975% 0.000000% 0.000000% 0.000000% 0.~~758294~~791975% 0.~~798294~~870761% 0.000000% 0.000000% 0.000000% 0.~~798294~~870761%

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 3 0 0 0 3 1,~~308~~820,~~867~~819.9523 0.00 0.00 0.00 1,~~308~~820,~~867~~819.9523 60 Days 01 0 0 0 01 0389,438.0005 0.00 0.00 0.00 0389,438.0005 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 34 0 0 0 34 12,~~308~~210,~~867~~257.9528 0.00 0.00 0.00 12,~~308~~210,~~867~~257.9528 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~617284~~655022% 0.000000% 0.000000% 0.000000% 0.~~617284~~655022% 0.~~588716~~884411% 0.000000% 0.000000% 0.000000% 0.~~588716~~884411% 60 Days 0.~~000000~~218341% 0.000000% 0.000000% 0.000000% 0.~~000000~~218341% 0.~~000000~~189158% 0.000000% 0.000000% 0.000000% 0.~~000000~~189158% 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 0.~~617284~~873362% 0.000000% 0.000000% 0.000000% 0.~~617284~~873362% 01.~~588716~~073570% 0.000000% 0.000000% 0.000000% 01.~~588716~~073570% 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 21 0 0 0 21 ~~949~~489,~~947~~467.7622 0.00 0.00 0.00 ~~949~~489,~~947~~467.7622 60 Days 01 0 0 0 01 0460,714.0032 0.00 0.00 0.00 0460,714.0032 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 2 0 0 0 2 ~~949~~950,~~947~~181.7654 0.00 0.00 0.00 ~~949~~950,~~947~~181.7654 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~873362~~490196% 0.000000% 0.000000% 0.000000% 0.~~873362~~490196% 0.~~940588~~548932% 0.000000% 0.000000% 0.000000% 0.~~940588~~548932% 60 Days 0.~~000000~~490196% 0.000000% 0.000000% 0.000000% 0.~~000000~~490196% 0.~~000000~~516686% 0.000000% 0.000000% 0.000000% 0.~~000000~~516686% 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 0.~~873362~~980392% 0.000000% 0.000000% 0.000000% 0.~~873362~~980392% 01.~~940588~~065617% 0.000000% 0.000000% 0.000000% 01.~~940588~~065617% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 03 0 0 0 03 01,788,114.0028 0.00 0.00 0.00 01,788,114.0028 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 03 0 0 0 03 01,788,114.0028 0.00 0.00 0.00 01,788,114.0028 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~102941% 0.000000% 0.000000% 0.000000% 01.~~000000~~102941% 01.~~000000~~363936% 0.000000% 0.000000% 0.000000% 01.~~000000~~363936% 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 01.~~000000~~102941% 0.000000% 0.000000% 0.000000% 01.~~000000~~102941% 01.~~000000~~363936% 0.000000% 0.000000% 0.000000% 01.~~000000~~363936% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 54 0 0 0 54 21,~~757~~911,~~427~~828.7103 0.00 0.00 0.00 21,~~757~~911,~~427~~828.7103 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 54 0 0 0 54 21,~~757~~911,~~427~~828.7103 0.00 0.00 0.00 21,~~757~~911,~~427~~828.7103 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~633987~~459854% 0.000000% 0.000000% 0.000000% 1.~~633987~~459854% 1.~~753720~~368100% 0.000000% 0.000000% 0.000000% 1.~~753720~~368100% 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 1.~~633987~~459854% 0.000000% 0.000000% 0.000000% 1.~~633987~~459854% 1.~~753720~~368100% 0.000000% 0.000000% 0.000000% 1.~~753720~~368100% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 6 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 41 0 0 0 4 1 346,~~783,472~~508.8629 0.00 0.00 0.00 1346,~~783,472~~508.8629 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 41 0 0 0 4 1 346,~~783,472~~508.8629 0.00 0.00 0.00 1346,~~783,472~~508.8629 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~775194~~216450% 0.000000% 0.000000% 0.000000% 0.~~775194~~216450% 0.~~785578~~171205% 0.000000% 0.000000% 0.000000% 0.~~785578~~171205% 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 0.~~775194~~216450% 0.000000% 0.000000% 0.000000% 0.~~775194~~216450% 0.~~785578~~171205% 0.000000% 0.000000% 0.000000% 0.~~785578~~171205% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 7 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 21 0 0 0 2 1 369,~~027,679~~945.4035 0.00 0.00 0.00 1369,~~027,679~~945.4035 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 21 0 0 0 2 1 369,~~027,679~~945.4035 0.00 0.00 0.00 1369,~~027,679~~945.4035 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~408451~~775194% 0.000000% 0.000000% 0.000000% 10.~~408451~~775194% 10.~~537055~~616051% 0.000000% 0.000000% 0.000000% 10.~~537055~~616051% 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 10.~~408451~~775194% 0.000000% 0.000000% 0.000000% 10.~~408451~~775194% 10.~~537055~~616051% 0.000000% 0.000000% 0.000000% 10.~~537055~~616051% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 8 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4340,~~150~~932.9239

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 934,279,619.00 79.58275035% ~~775~~681,~~491~~799,~~067~~965.2740 7978.~~15487426~~40439669% 9190.~~643793~~592909% 0.000000% Class R-I 934,279,519.00 79.58274183% ~~775~~681,~~491~~799,~~067~~965.2740 7978.~~15487426~~40439669% 0.000000% 0.000000% Class R-II 934,279,419.00 79.58273332% ~~775~~681,~~491~~799,~~067~~965.2740 7978.~~15487426~~40439669% 0.000000% 0.000000% Class R-III 934,279,319.00 79.58272480% ~~775~~681,~~491~~799,~~067~~965.2740 7978.~~15487426~~40439669% 0.000000% 0.000000% Class II-A-1 820,936,619.00 69.92809505% ~~683~~601,~~065~~185,~~788~~221.2551 69.~~72096631~~13400848% 9.~~433908~~270388% ~~112~~98.~~897012~~546816% Class III-A-1 630,246,719.00 53.68496356% ~~536~~484,~~641~~455,~~842~~304.3419 5455.~~77537956~~71051302% 1413.~~945587~~423495% ~~178~~142.~~856111~~695507% Class M 38,154,519.00 3.25003511% 3837,~~009~~980,~~928~~494.5604 34.~~87969797~~36761202% 45.~~476509~~039478% 53.571064% Class B-1 24,653,819.00 2.10003374% 24,~~560~~541,~~390~~371.8451 2.~~50689496~~82216416% 1.~~372803~~545448% 16.428542% Class B-2 14,675,019.00 1.25003088% 14,~~619~~608,~~406~~085.5239 1.~~49221227~~67987413% 1.~~014683~~142290% 12.142862% Class B-3 7,631,219.00 0.65003387% 7,~~602~~596,~~299~~412.7257 0.~~77597164~~87355848% 0.~~716241~~806316% 8.571361% Class B-4 4,109,419.00 0.35004388% 4,~~093~~090,~~845~~675.9470 0.~~41786150~~47041211% 0.~~358110~~403146% 4.285559% Class B-5 2,348,519.00 0.20004889% 2,~~339~~337,~~619~~807.0527 0.~~23880643~~26883892% 0.~~179055~~201573% 2.142779% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~238806~~268839% 2.857833% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~601423~~594625% Weighted Average Net Coupon 5.~~295543~~289680% Weighted Average Pass-Through Rate 5.~~272848~~265955% Weighted Average Maturity(Stepdown Calculation ) ~~353~~352 Beginning Scheduled Collateral Loan Count 2,~~237~~110 Number Of Loans Paid In Full ~~127~~216 Ending Scheduled Collateral Loan Count 21,~~110~~894 Beginning Scheduled Collateral Balance 1979,~~047~~713,~~719,441~~598.4187 Ending Scheduled Collateral Balance ~~979~~869,~~713~~594,~~598~~046.8701 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~980~~870,~~514~~139,~~948~~562.9712 Monthly P &I Constant 5,~~691~~323,~~892~~853.0583 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 72113,~~186~~996,~~358~~024.1551 Ending Scheduled Balance for Premium Loans ~~979~~869,~~713~~594,~~598~~046.8701 Scheduled Principal ~~801~~756,~~292~~245.1816 Unscheduled Principal 67109,~~204~~363,~~550~~307.3670

Miscellaneous Reporting Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00 Average Loss Severity Group 4 0.00 Average Loss Severity Group 5 0.00 Average Loss Severity Group 6 0.00 Average Loss Severity Group 7 0.00 Average Loss Severity Group 8 0.00 Senior Percentage Group 1 9291.~~251700~~908546% Senior Percentage Group 2 91.~~983640~~578868% Senior Percentage Group 3 91.~~905602~~105822% Senior Percentage Group 4 9291.~~274579~~695785% Senior Percentage Group 5 9291.~~566810~~996676% Senior Percentage Group 6 9291.~~221687~~583614% Senior Percentage Group 7 9291.~~040383~~607726% Senior Percentage Group 8 91.~~485239~~348859% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Senior Prepayment Percentage Group 4 100.000000% Senior Prepayment Percentage Group 5 100.000000% Senior Prepayment Percentage Group 6 100.000000% Senior Prepayment Percentage Group 7 100.000000% Senior Prepayment Percentage Group 8 100.000000% Subordinate Percentage Group 1 78.~~748300~~091454% Subordinate Percentage Group 2 8.~~016360~~421132% Subordinate Percentage Group 3 8.~~094398~~894178% Subordinate Percentage Group 4 78.~~725421~~304215% Subordinate Percentage Group 5 78.~~433190~~003324% Subordinate Percentage Group 6 78.~~778313~~416386% Subordinate Percentage Group 7 78.~~959617~~392274% Subordinate Percentage Group 8 8.~~514761~~651141% Subordinate Prepay Percentage Group 1 0.000000% Subordinate Prepay Percentage Group 2 0.000000% Subordinate Prepay Percentage Group 3 0.000000% Subordinate Prepay Percentage Group 4 0.000000% Subordinate Prepay Percentage Group 5 0.000000% Subordinate Prepay Percentage Group 6 0.000000% Subordinate Prepay Percentage Group 7 0.000000% Subordinate Prepay Percentage Group 8 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~397614~~391374 5.~~706368~~702763 5.~~740486~~731471 Weighted Average Net Rate 5.~~138530~~132915 5.~~416128~~410831 5.~~447501~~438298 Weighted Average Maturity ~~353~~ 352 ~~352~~351 351 Beginning Loan Count ~~506~~486 ~~239~~229 ~~359~~328 Loans Paid In Full 2028 1025 3156 Ending Loan Count ~~486~~458 ~~229~~204 ~~328~~272 Beginning Scheduled Balance ~~232~~222,~~204~~201,~~049~~894.1439 ~~106~~100,~~101~~924,~~025~~242.0177 ~~176~~160,~~745~~718,~~517~~538.4688 Ending scheduled Balance ~~222~~205,~~201~~760,~~894~~918.3928 ~~100~~89,~~924~~106,~~242~~921.7736 ~~160~~131,~~718~~012,~~538~~437.8809 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant 1,~~205~~153,~~816~~105.5980 ~~585~~560,~~328~~208.6286 ~~992~~903,~~420~~370.9170 Scheduled Principal ~~161~~154,~~359~~794.9961 80,~~785~~586.7330 ~~146~~135,~~916~~742.66 Unscheduled Principal 916,~~840~~286,~~794~~181.7650 511,~~095~~736,~~996~~735.5111 1529,~~880~~570,~~061~~359.9213 Scheduled Interest 1998,~~044,456~~311.6019 ~~504~~479,~~542~~622.8956 ~~845~~767,~~504~~628.2504 Servicing Fees 5047,~~133~~858.7238 2524,~~662~~552.2755 4339,~~153~~265.1333 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 13,~~765~~326.5133 97.5342 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 ~~980~~937,~~557~~126.3748 ~~478~~454,~~783~~972.0959 ~~802~~728,~~351~~362.1271 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.~~067391~~060946 5.~~415025~~409673 5.~~447501~~438298

Group Level Collateral Statement Group Group 4 Group 5 Group 6 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~861643~~860652 5.~~815697~~810591 5.~~591027~~587310 Weighted Average Net Rate 4.~~607069~~611286 5.~~467863~~462801 5.~~237334~~235360 Weighted Average Maturity ~~352~~351 ~~352~~351 ~~354~~353 Beginning Loan Count 6056 ~~324~~306 ~~552~~516 Loans Paid In Full 46 1832 3654 Ending Loan Count 5650 ~~306~~274 ~~516~~462 Beginning Scheduled Balance 2523,~~138~~356,~~060~~075.6714 ~~169~~157,~~286~~131,~~968~~427.3033 ~~245~~226,~~610~~807,~~631~~522.0810 Ending scheduled Balance 2320,~~356~~678,~~075~~110.1439 ~~157~~139,~~131~~671,~~427~~818.3318 ~~226~~202,~~807~~266,~~522~~137.1084 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~133~~124,~~977~~636.5197 ~~923~~855,~~803~~970.8055 1,~~341~~238,~~925~~828.0234 Scheduled Principal 3230,~~133~~032.9517 ~~103~~95,~~369~~115.1015 ~~197~~182,~~578~~791.6279 Unscheduled Principal 12,~~749~~647,~~851~~932.58 1217,~~052~~364,~~171~~494.8700 1824,~~605~~358,~~530~~592.3647 Scheduled Interest ~~101~~94,~~843~~604.5680 ~~820~~760,~~434~~855.7040 1,~~144~~056,~~346~~036.4055 Servicing Fees 54,~~332~~853.9051 4945,~~069~~540.7461 7266,~~392~~520.2365 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 1,~~462~~460.3611 0.00 4,~~053~~049.0400 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 9588,~~048~~291.3018 ~~771~~715,~~364~~314.9679 1985,~~067,901~~466.1390 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 4.~~537262~~536268 5.~~467863~~462801 5.~~217532~~213938

Group Level Collateral Statement Group Group 7 Group 8 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~527037~~523528 5.~~679713~~680656 5.~~601423~~594625 Weighted Average Net Rate 5.~~261410~~258154 5.~~369917~~371877 5.~~295543~~289680 ~~Pass-Through Rate 5.253969 5.369918 5.272848~~ Weighted Average Maturity ~~354~~353.00 ~~352~~351.00 ~~353~~352.00 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~386~~367,~~508~~635.0788 ~~122~~120,~~111~~096.5373 5,~~691~~323,~~892~~853.0583 Beginning Loan Count ~~149~~142 4847 2,~~237~~110 Loans Paid In Full 713 12 ~~127~~216 Ending Loan Count ~~142~~129 4745 21,~~110~~894 Beginning Scheduled Balance 7066,~~503~~809,~~264~~933.7660 2221,~~129~~763,~~924~~964.9966 1979,~~047~~713,~~719,441~~598.4187 Ending Scheduled Balance 6660,~~809~~005,~~933~~999.6075 21,~~763~~091,~~964~~703.6612 ~~979~~869,~~713~~594,~~598~~046.8701 Scheduled Principal 6160,~~779~~113.6174 17,~~368~~068.5274 ~~801~~756,~~292~~245.1816 Unscheduled Principal 36,~~631~~743,~~551~~820.5511 ~~348~~655,~~591~~192.8180 67109,~~204~~363,~~550~~307.3670 Scheduled Interest ~~324~~307,~~728~~522.4614 ~~104~~103,~~743~~027.0199 4,~~890~~567,~~599~~608.8767 Servicing Fee 1514,~~606~~774.2972 5,~~713~~600.1221 ~~267~~248,~~063~~965.4096 Master Servicing Fee 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 ~~437~~436.2171 0.00 19,~~815~~369.6557 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest ~~308~~292,~~684~~310.9671 9997,~~029~~427.8978 4,~~603~~299,~~720~~273.8214 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 5.250310 5.371877 5.265955

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT 2003-1