8-K 1 bst03004.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 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-32 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 2003-4 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 2003-4 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 2003-4 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 2003-4 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: 2003-4 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 07384MVM1 SEN 4.~~35690~~35320% 4948,~~432~~968,~~303~~470.9715 ~~179~~177,~~476~~641.3614 ~~463~~73,~~833~~981.8280 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 7,~~250~~182.0704 0.00 II-A-1 07384MVP4 SEN 4.~~72244~~71898% ~~246~~240,~~073~~314,~~042~~656.4974 ~~968~~945,~~387~~033.9345 511,~~758~~262,~~385~~600.7423 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 5453,~~546~~269.1975 0.00 III-A-1 07384MVR0 SEN 4.~~99994~~99941% ~~253~~244,~~924~~413,~~491~~176.2925 1,~~058~~018,~~005~~268.5514 917,~~511~~350,~~315~~871.0454 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 4745,~~399~~623.2479 0.00 R-I 07384MVT6 SEN 4.~~53309~~53308% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.~~53309~~53308% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.~~53309~~53308% 0.00 0.00 0.00 B-1 07384MVW9 SUB 5.~~05570~~05361% 5,~~973~~969,~~034~~018.9714 25,~~164~~137.9155 4,~~016~~048.8338 B-2 07384MVX7 SUB 5.~~05570~~05361% 4,~~550~~547,~~779~~718.1072 19,~~172~~151.8298 3,~~060~~084.3741 B-3 07384MVY5 SUB 5.~~05570~~05361% 3,~~128~~126,~~823~~718.0291 13,~~182~~167.0067 2,~~104~~120.1164 B-4 07384MVZ2 SUB 5.~~05570~~05361% 1,~~422~~421,~~155~~199.9455 5,~~991~~985.6615 ~~956~~963.3990 B-5 07384MWA6 SUB 5.~~05570~~05361% ~~853~~852,~~233~~659.6181 3,~~594~~590.7584 ~~573~~578.7930 B-6 07384MWB4 SUB 5.~~05570~~05361% 1,137,~~890~~125.6442 4,~~794~~788.0382 ~~765~~771.2224 Totals ~~566~~550,~~495~~750,~~755~~743.0369 2,~~386~~318,~~965~~840.5132 1528,~~745~~699,~~011~~020.3144

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 48,~~968~~894,~~470~~488.1535 ~~643~~251,~~310~~622.1894 0.00 I-X-A-1 0.00 0.00 7,~~250~~182.0704 0.00 II-A-1 0.00 ~~240~~229,~~314~~052,~~656~~056.7451 612,~~726~~207,~~773~~633.6768 0.00 II-X-A-1 0.00 0.00 5453,~~546~~269.1975 0.00 III-A-1 0.00 ~~244~~227,~~413~~062,~~176~~304.2571 1018,~~569~~369,~~320~~139.5968 0.00 III-X-A-1 0.00 0.00 4745,~~399~~623.2479 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 B-1 0.00 5,~~969~~964,~~018~~969.1476 29,~~181~~185.7493 0.00 B-2 0.00 4,~~547~~544,~~718~~634.7231 22,~~233~~236.1939 0.00 B-3 0.00 3,~~126~~124,~~718~~598.9126 15,~~286~~288.1131 0.00 B-4 0.00 1,~~421~~420,~~199~~235.5565 6,~~948~~949.05 0.00 B-5 0.00 852,~~659~~081.8151 4,~~168~~169.5414 0.00 B-6 0.00 1,~~137~~136,~~125~~354.4218 5,~~559~~560.2506 0.00 Totals 0.00 ~~550~~522,~~750~~051,~~743~~723.6924 1831,~~131~~017,~~976~~860.8276 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 50,011,600.00 4948,~~432~~968,~~303~~470.9715 56,~~405~~161.83 ~~407~~17,~~427~~819.9997 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 247,776,800.00 ~~246~~240,~~073~~314,~~042~~656.4974 ~~174~~171,~~902~~733.6934 511,~~583~~090,~~483~~866.0589 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 254,370,500.00 ~~253~~244,~~924~~413,~~491~~176.2925 ~~137~~134,~~915~~614.9242 917,~~373~~216,~~399~~257.12 0.00 0.00 III-X-A-1 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 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5,~~973~~969,~~034~~018.9714 4,~~016~~048.8338 0.00 0.00 0.00 B-2 4,553,800.00 4,~~550~~547,~~779~~718.1072 3,~~060~~084.3741 0.00 0.00 0.00 B-3 3,130,900.00 3,~~128~~126,~~823~~718.0291 2,~~104~~120.1164 0.00 0.00 0.00 B-4 1,423,100.00 1,~~422~~421,~~155~~199.9455 ~~956~~963.3990 0.00 0.00 0.00 B-5 853,800.00 ~~853~~852,~~233~~659.6181 ~~573~~578.7930 0.00 0.00 0.00 B-6 1,138,646.00 1,137,~~890~~125.6442 ~~765~~771.2224 0.00 0.00 0.00 Totals 569,236,346.00 ~~566~~550,~~495~~750,~~755~~743.0369 ~~380~~374,~~701~~076.1546 1528,~~364~~324,~~310~~943.1698 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 ~~463~~73,~~833~~981.8280 48,~~968~~894,~~470~~488.1535 0.~~97914224~~97766295 ~~463~~73,~~833~~981.8280 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 511,~~758~~262,~~385~~600.7423 ~~240~~229,~~314~~052,~~656~~056.7451 0.~~96988361~~92442899 511,~~758~~262,~~385~~600.7423 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 917,~~511~~350,~~315~~871.0454 ~~244~~227,~~413~~062,~~176~~304.2571 0.~~96085504~~89264402 917,~~511~~350,~~315~~871.0454 III-X-A-1 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 B-1 4,~~016~~048.8338 5,~~969~~964,~~018~~969.1476 0.~~99866457~~99798724 4,~~016~~048.8338 B-2 3,~~060~~084.3741 4,~~547~~544,~~718~~634.7231 0.~~99866457~~99798724 3,~~060~~084.3741 B-3 2,~~104~~120.1164 3,~~126~~124,~~718~~598.9126 0.~~99866457~~99798724 2,~~104~~120.1164 B-4 ~~956~~963.3990 1,~~421~~420,~~199~~235.5565 0.~~99866457~~99798725 ~~956~~963.3990 B-5 ~~573~~578.7930 852,~~659~~081.8151 0.~~99866457~~99798725 ~~573~~578.7930 B-6 ~~765~~771.2224 1,~~137~~136,~~125~~354.4218 0.~~99866457~~99798724 ~~765~~771.2224 Totals 1528,~~745~~699,~~011~~020.3144 ~~550~~522,~~750~~051,~~743~~723.6924 0.~~96752561~~91710891 1528,~~745~~699,~~011~~020.3144

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 50,011,600.00 ~~988~~979.~~41676671~~14224200 1.~~12785494~~12297607 80.~~14666977~~35631673 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 ~~993~~969.~~12382148~~88360791 0.~~70588808~~69309693 2244.~~53432545~~76152283 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 ~~998~~960.~~24661779~~85503724 0.~~54218520~~52920610 3667.~~84939535~~68181499 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 ~~999~~998.~~33661871~~66457085 0.~~67204785~~67732642 0.00000000 0.00000000 B-2 4,553,800.00 ~~999~~998.~~33661997~~66457025 0.~~67204752~~67732663 0.00000000 0.00000000 B-3 3,130,900.00 ~~999~~998.~~33661886~~66457249 0.~~67204638~~67732601 0.00000000 0.00000000 B-4 1,423,100.00 ~~999~~998.~~33661724~~66457030 0.~~67204694~~67732415 0.00000000 0.00000000 B-5 853,800.00 ~~999~~998.~~33662450~~66457016 0.~~67204263~~67732490 0.00000000 0.00000000 B-6 1,138,646.00 ~~999~~998.~~33661559~~66457178 0.~~67204381~~67733079 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 I-A-1 0.00000000 91.~~27452471~~47929280 ~~979~~977.~~14224200~~66294920 0.~~97914224~~97766295 91.~~27452471~~47929280 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 2345.~~24021353~~45461976 ~~969~~924.~~88360791~~42898815 0.~~96988361~~92442899 2345.~~24021353~~45461976 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 3768.~~39158055~~21102109 ~~960~~892.~~85503724~~64401615 0.~~96085504~~89264402 3768.~~39158055~~21102109 III-X-A-1 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 B-1 0.00000000 0.~~67204785~~67732642 ~~998~~997.~~66457085~~98724444 0.~~99866457~~99798724 0.~~67204785~~67732642 B-2 0.00000000 0.~~67204752~~67732663 ~~998~~997.~~66457025~~98724362 0.~~99866457~~99798724 0.~~67204752~~67732663 B-3 0.00000000 0.~~67204638~~67732601 ~~998~~997.~~66457249~~98724328 0.~~99866457~~99798724 0.~~67204638~~67732601 B-4 0.00000000 0.~~67204694~~67732415 ~~998~~997.~~66457030~~98724615 0.~~99866457~~99798725 0.~~67204694~~67732415 B-5 0.00000000 0.~~67204263~~67732490 ~~998~~997.~~66457016~~98724526 0.~~99866457~~99798725 0.~~67204263~~67732490 B-6 0.00000000 0.~~67204381~~67733079 ~~998~~997.~~66457178~~98724099 0.~~99866457~~99798724 0.~~67204381~~67733079 (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 50,011,600.00 4.~~35690~~35320% 4948,~~432~~968,~~303~~470.9715 ~~179~~177,~~476~~641.3614 0.00 0.00 I-X-A-1 0.00 0.17600% 4948,~~432~~968,~~303~~470.9715 7,~~250~~182.0704 0.00 0.00 II-A-1 247,776,800.00 4.~~72244~~71898% ~~246~~240,~~073~~314,~~042~~656.4974 ~~968~~945,~~387~~033.9345 0.00 0.00 II-X-A-1 0.00 0.26600% ~~246~~240,~~073~~314,~~042~~656.4974 5453,~~546~~269.1975 0.00 0.00 III-A-1 254,370,500.00 4.~~99994~~99941% ~~253~~244,~~924~~413,~~491~~176.2925 1,~~058~~018,~~005~~268.5514 0.00 0.00 III-X-A-1 0.00 0.22400% ~~253~~244,~~924~~413,~~491~~176.2925 4745,~~399~~623.2479 0.00 0.00 R-I 100.00 4.~~53309~~53308% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~53309~~53308% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~53309~~53308% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5.~~05570~~05361% 5,~~973~~969,~~034~~018.9714 25,~~164~~137.9155 0.00 0.00 B-2 4,553,800.00 5.~~05570~~05361% 4,~~550~~547,~~779~~718.1072 19,~~172~~151.8298 0.00 0.00 B-3 3,130,900.00 5.~~05570~~05361% 3,~~128~~126,~~823~~718.0291 13,~~182~~167.0067 0.00 0.00 B-4 1,423,100.00 5.~~05570~~05361% 1,~~422~~421,~~155~~199.9455 5,~~991~~985.6615 0.00 0.00 B-5 853,800.00 5.~~05570~~05361% ~~853~~852,~~233~~659.6181 3,~~594~~590.7584 0.00 0.00 B-6 1,138,646.00 5.~~05570~~05361% 1,137,~~890~~125.6442 4,~~794~~788.0382 0.00 0.00 Totals 569,236,346.00 2,~~386~~318,~~965~~840.5132 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 0.00 0.00 ~~179~~177,~~476~~641.3614 0.00 48,~~968~~894,~~470~~488.1535 I-X-A-1 0.00 0.00 7,~~250~~182.0704 0.00 48,~~968~~894,~~470~~488.1535 II-A-1 0.00 0.00 ~~968~~945,~~387~~033.9345 0.00 ~~240~~229,~~314~~052,~~656~~056.7451 II-X-A-1 0.00 0.00 5453,~~546~~269.1975 0.00 ~~240~~229,~~314~~052,~~656~~056.7451 III-A-1 0.00 0.00 1,~~058~~018,~~005~~268.5514 0.00 ~~244~~227,~~413~~062,~~176~~304.2571 III-X-A-1 0.00 0.00 4745,~~399~~623.2479 0.00 ~~244~~227,~~413~~062,~~176~~304.2571 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 B-1 0.00 0.00 25,~~164~~137.9155 0.00 5,~~969~~964,~~018~~969.1476 B-2 0.00 0.00 19,~~172~~151.8298 0.00 4,~~547~~544,~~718~~634.7231 B-3 0.00 0.00 13,~~182~~167.0067 0.00 3,~~126~~124,~~718~~598.9126 B-4 0.00 0.00 5,~~991~~985.6615 0.00 1,~~421~~420,~~199~~235.5565 B-5 0.00 0.00 3,~~594~~590.7584 0.00 852,~~659~~081.8151 B-6 0.00 0.00 4,~~794~~788.0382 0.00 1,~~137~~136,~~125~~354.4218 Totals 0.00 0.00 2,~~386~~318,~~965~~840.5132 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 50,011,600.00 4.~~35690~~35320% ~~988~~979.~~41676671~~14224200 3.~~58869462~~55199874 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% ~~988~~979.~~41676671~~14224200 0.~~14496777~~14360748 0.00000000 0.00000000 II-A-1 247,776,800.00 4.~~72244~~71898% ~~993~~969.~~12382148~~88360791 3.~~90830752~~81405140 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% ~~993~~969.~~12382148~~88360791 0.~~22014244~~21499087 0.00000000 0.00000000 III-A-1 254,370,500.00 4.~~99994~~99941% ~~998~~960.~~24661779~~85503724 4.~~15930916~~00309053 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% ~~998~~960.~~24661779~~85503724 0.~~18633938~~17935960 0.00000000 0.00000000 R-I 100.00 4.~~53309~~53308% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~53309~~53308% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~53309~~53308% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 5.~~05570~~05361% ~~999~~998.~~33661871~~66457085 4.~~21029112~~20571357 0.00000000 0.00000000 B-2 4,553,800.00 5.~~05570~~05361% ~~999~~998.~~33661997~~66457025 4.~~21029031~~20571391 0.00000000 0.00000000 B-3 3,130,900.00 5.~~05570~~05361% ~~999~~998.~~33661886~~66457249 4.~~21029097~~20571401 0.00000000 0.00000000 B-4 1,423,100.00 5.~~05570~~05361% ~~999~~998.~~33661724~~66457030 4.~~21028740~~20571288 0.00000000 0.00000000 B-5 853,800.00 5.~~05570~~05361% ~~999~~998.~~33662450~~66457016 4.~~21029515~~20571562 0.00000000 0.00000000 B-6 1,138,646.00 5.~~05570~~05361% ~~999~~998.~~33661559~~66457178 4.~~21029012~~20571451 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 I-A-1 0.00000000 0.00000000 3.~~58869462~~55199874 0.00000000 ~~979~~977.~~14224200~~66294920 I-X-A-1 0.00000000 0.00000000 0.~~14496777~~14360748 0.00000000 ~~979~~977.~~14224200~~66294920 II-A-1 0.00000000 0.00000000 3.~~90830752~~81405140 0.00000000 ~~969~~924.~~88360791~~42898815 II-X-A-1 0.00000000 0.00000000 0.~~22014244~~21499087 0.00000000 ~~969~~924.~~88360791~~42898815 III-A-1 0.00000000 0.00000000 4.~~15930916~~00309053 0.00000000 ~~960~~892.~~85503724~~64401615 III-X-A-1 0.00000000 0.00000000 0.~~18633938~~17935960 0.00000000 ~~960~~892.~~85503724~~64401615 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 B-1 0.00000000 0.00000000 4.~~21029112~~20571357 0.00000000 ~~998~~997.~~66457085~~98724444 B-2 0.00000000 0.00000000 4.~~21029031~~20571391 0.00000000 ~~998~~997.~~66457025~~98724362 B-3 0.00000000 0.00000000 4.~~21029097~~20571401 0.00000000 ~~998~~997.~~66457249~~98724328 B-4 0.00000000 0.00000000 4.~~21028740~~20571288 0.00000000 ~~998~~997.~~66457030~~98724615 B-5 0.00000000 0.00000000 4.~~21029515~~20571562 0.00000000 ~~998~~997.~~66457016~~98724526 B-6 0.00000000 0.00000000 4.~~21029012~~20571451 0.00000000 ~~998~~997.~~66457178~~98724099 (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 1831,~~232~~067,~~351~~041.7057 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 08,551.0089 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1831,~~232~~075,~~351~~593.7046 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~100~~57,~~374~~732.8869 Payment of Interest and Principal 1831,~~131~~017,~~976~~860.8277 Total Withdrawals (Pool Distribution Amount) 1831,~~232~~075,~~351~~593.7046 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 3271,~~089~~388.3376 Servicing Fee Support 3271,~~089~~388.3376 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee ~~131~~128,~~972~~630.4716 Miscellaneous Fee 491.7429 Supported Prepayment/Curtailment Interest Shortfall 3271,~~089~~388.3376 Net Servicing Fee ~~100~~57,~~374~~732.8869

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 04 0 0 0 04 01,826,522.0066 0.00 0.00 0.00 01,826,522.0066 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 04 0 0 0 04 01,826,522.0066 0.00 0.00 0.00 01,826,522.0066 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.~~000000~~364964% 0.000000% 0.000000% 0.000000% 0.~~000000~~364964% 0.~~000000~~349686% 0.000000% 0.000000% 0.000000% 0.~~000000~~349686% 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~~364964% 0.000000% 0.000000% 0.000000% 0.~~000000~~364964% 0.~~000000~~349686% 0.000000% 0.000000% 0.000000% 0.~~000000~~349686%

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 03 0 0 0 03 01,617,722.0035 0.00 0.00 0.00 01,617,722.0035 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 01,617,722.0035 0.00 0.00 0.00 01,617,722.0035 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~000000~~542373% 0.000000% 0.000000% 0.000000% 02.~~000000~~542373% 03.~~000000~~204587% 0.000000% 0.000000% 0.000000% 03.~~000000~~204587% 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 02.~~000000~~542373% 0.000000% 0.000000% 0.000000% 02.~~000000~~542373% 03.~~000000~~204587% 0.000000% 0.000000% 0.000000% 03.~~000000~~204587% 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 01 0 0 0 01 0208,800.0031 0.00 0.00 0.00 0208,800.0031 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 01 0 0 0 01 0208,800.0031 0.00 0.00 0.00 0208,800.0031 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~200401% 0.000000% 0.000000% 0.000000% 0.~~000000~~200401% 0.~~000000~~088165% 0.000000% 0.000000% 0.000000% 0.~~000000~~088165% 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~~200401% 0.000000% 0.000000% 0.000000% 0.~~000000~~200401% 0.~~000000~~088165% 0.000000% 0.000000% 0.000000% 0.~~000000~~088165% 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 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 08,551.0089

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% ~~501~~473,~~782~~157,~~273~~234.5489 9190.~~10877817~~63416777% 96.~~903419~~735405% 0.000000% Class R-I 519,224,646.00 91.21424689% ~~501~~473,~~782~~157,~~273~~234.5489 9190.~~10877817~~63416777% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% ~~501~~473,~~782~~157,~~273~~234.5489 9190.~~10877817~~63416777% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% ~~501~~473,~~782~~157,~~273~~234.5489 9190.~~10877817~~63416777% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% ~~261~~244,~~467~~105,~~616~~178.8038 4746.~~47476416~~75881094% 43.~~634014~~875357% 1,~~409~~343.~~103137~~975558% Class B-1 11,100,246.00 1.95002411% 11,~~085~~077,~~422~~903.4191 2.~~01278392~~12199355% 1.~~083797~~142601% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,~~537~~533,~~703~~269.6960 1.~~18705308~~25146021% 0.~~825731~~870533% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,~~410~~408,~~984~~671.7834 0.~~61933367~~65293747% 0.~~567719~~598523% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,~~989~~988,~~785~~435.2369 0.~~36128598~~38088864% 0.~~258048~~272049% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,~~137~~136,~~125~~354.4218 0.~~20646825~~21767080% 0.~~154818~~163218% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~206468~~217671% 6.667621% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~336873~~333727% Weighted Average Net Coupon 5.~~057317~~053462% Weighted Average Pass-Through Rate 5.~~056275~~052391% Weighted Average Maturity(Stepdown Calculation ) ~~357~~356 Beginning Scheduled Collateral Loan Count 1,~~178~~149 Number Of Loans Paid In Full 2953 Ending Scheduled Collateral Loan Count 1,~~149~~096 Beginning Scheduled Collateral Balance ~~566~~550,~~495~~750,~~755~~743.2592 Ending Scheduled Collateral Balance ~~550~~522,~~750~~051,~~743~~723.9247 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~551~~522,~~040~~332,~~201~~062.2381 Monthly P &I Constant 2,~~900~~822,~~130~~107.8918 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1830,~~048~~934,~~599~~471.9488 Ending Scheduled Balance for Premium Loans ~~550~~522,~~750~~051,~~743~~723.9247 Scheduled Principal ~~380~~374,~~701~~076.1747 Unscheduled Principal 1528,~~364~~324,~~310~~943.1698

Miscellaneous Reporting Senior Percentage Group 1 96.~~969134~~944687% Senior Percentage Group 2 96.~~981904~~913945% Senior Percentage Group 3 96.~~996412~~884810% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Subordinate Percentage Group 1 3.~~030866~~055313% Subordinate Percentage Group 2 3.~~018096~~086055% Subordinate Percentage Group 3 3.~~003588~~115190% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~880608~~877690 5.~~266808~~263755 5.~~493628~~493816 Weighted Average Net Rate 4.~~532901~~529196 4.~~990578~~987165 5.~~224121~~223600 Weighted Average Maturity ~~358~~357 357 358 ~~359~~ Beginning Loan Count ~~119~~118 ~~532~~521 ~~527~~510 Loans Paid In Full 10 1122 1731 Ending Loan Count 118 ~~521~~499 ~~510~~479 Beginning Scheduled Balance 50,~~977~~511,~~359~~762.6177 ~~253~~247,~~730~~967,~~884~~056.8106 ~~261~~252,~~787~~271,~~510~~925.8309 Ending scheduled Balance 50,~~511~~436,~~762~~010.7797 ~~247~~236,~~967~~698,~~056~~987.0628 ~~252~~234,~~271~~916,~~925~~725.0922 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~265~~263,~~502~~249.5908 1,~~293~~264,~~972~~969.3406 1,~~340~~293,~~655~~889.9604 Scheduled Principal 5857,~~168~~931.8583 ~~180~~177,~~345~~201.7089 ~~142~~138,~~186~~942.6275 Unscheduled Principal ~~407~~17,~~427~~819.9997 511,~~583~~090,~~483~~866.0589 917,~~373~~216,~~399~~257.12 Scheduled Interest ~~207~~205,~~333~~317.7425 1,~~113~~087,~~626~~698.6420 1,~~198~~154,~~469~~946.3429 Servicing Fees 14,~~770~~669.9917 5857,~~406~~154.7339 5856,~~794~~806.7560 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 0.00 451.8641 39.88 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 ~~192~~190,~~562~~648.7508 1,~~054~~030,~~768~~092.0540 1,~~139~~098,~~634~~099.7181 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.~~532900~~529197 4.~~988441~~984980 5.~~223938~~223410

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.~~336873~~333727 Weighted Average Net Rate 5.~~057317~~053462 Weighted Average Maturity ~~357~~356 Beginning Loan Count 1,~~178~~149 Loans Paid In Full 2953 Ending Loan Count 1,~~149~~096 Beginning Scheduled Balance ~~566~~550,~~495~~750,~~755~~743.2592 Ending scheduled Balance ~~550~~522,~~750~~051,~~743~~723.9247 Record Date 0607/3031/2003 Principal And Interest Constant 2,~~900~~822,~~130~~107.8918 Scheduled Principal ~~380~~374,~~701~~076.1747 Unscheduled Principal 1528,~~364~~324,~~310~~943.1698 Scheduled Interest 2,~~519~~447,~~429~~961.7274 Servicing Fees ~~131~~128,~~972~~630.4716 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 491.7429 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 2,~~386~~318,~~965~~840.5129 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.~~056275~~052391

Filing Compare · BEAR STEARNS ARM TRUST 2003-4