8-K 1 bst02003.txt SEPTEMBER 8K 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): September 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-09 90-0072844 Pooling and Servicing Agreement) (Commission 90-0072905 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On September 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the September 25, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-3 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/24/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the September 25, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 BST Series: 2002-3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MJZ6 SEN 5.~~94172~~91326% 2925,~~523~~775,~~127~~189.7740 ~~144~~124,~~586~~187.5916 32,~~747~~992,~~938~~424.3779 II-A 07384MKC5 SEN 6.~~03522~~03714% 3531,~~321~~448,~~683~~312.0669 ~~175~~154,~~706~~694.4883 35,~~873~~973,~~370~~645.3753 R-I 07384MKA9 RES 6.~~11568~~11526% 0.00 0.00 0.00 R-II 07384MKB7 RES 6.~~11568~~11526% 0.00 0.00 0.00 B-1 07384MKE1 SUB 5.~~99383~~98257% 21,~~069~~952,~~983~~760.1390 109,~~226~~518.4485 ~~117~~147,~~222~~587.2321 B-2 07384MKF8 SUB 5.~~99383~~98257% 1,~~577~~487,~~178~~863.6370 7,~~791~~252.8168 89112,~~314~~450.9387 B-3 07384MKG6 SUB 5.~~99383~~98257% 1,~~084~~022,~~374~~966.1451 54,~~357~~986.1851 6177,~~407~~314.6352 B-4 07384MKH4 SUB 5.~~99383~~98257% ~~394~~371,~~258~~931.1952 1,~~947~~813.7700 2228,~~326~~110.6712 B-5 07384MKJ0 SUB 5.~~99383~~98257% ~~394~~371,~~258~~931.1952 1,~~947~~813.7700 2228,~~326~~110.6712 B-6 07384MKK7 SUB 5.~~99383~~98257% ~~394~~372,~~402~~067.3753 1,~~948~~813.4867 2228,~~334~~120.8340 Totals 7062,~~759~~803,~~265~~023.4877 ~~349~~306,~~512~~079.5270 79,~~956~~387,~~241~~763.7056

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 2522,~~775~~782,~~189~~764.4062 3,~~892~~116,~~524~~611.9695 0.00 II-A 0.00 3125,~~448~~474,~~312~~667.6917 46,~~049~~128,~~076~~340.8536 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 1,~~952~~805,~~760~~173.9069 ~~127~~157,~~448~~106.6706 0.00 B-2 0.00 1,~~487~~375,~~863~~412.7084 97119,~~106~~703.7455 0.00 B-3 0.00 1945,~~022,966~~651.5199 6682,~~764~~301.8103 0.00 B-4 0.00 ~~371~~343,~~931~~821.5240 2429,~~274~~923.4412 0.00 B-5 0.00 ~~371~~343,~~931~~821.5240 2429,~~274~~923.4412 0.00 B-6 0.00 ~~372~~343,~~067~~947.5314 2429,~~283~~934.3107 0.00 Totals 0.00 6253,~~803~~415,~~023~~260.7725 89,~~305~~693,~~754~~843.2226 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) I-A 113,308,600.00 2925,~~523~~775,~~127~~189.7740 3228,~~698~~999.4874 32,~~715~~963,~~239~~425.8904 0.00 0.00 II-A 148,858,000.00 3531,~~321~~448,~~683~~312.0669 3330,~~036~~785.9434 35,~~840~~942,~~333~~860.4219 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 2,837,800.00 21,~~069~~952,~~983~~760.1390 2,~~093~~037.9334 ~~115~~145,~~128~~549.3087 0.00 0.00 B-2 2,162,200.00 1,~~577~~487,~~178~~863.6370 1,~~595~~552.4331 87110,~~719~~898.5156 0.00 0.00 B-3 1,486,600.00 1,~~084~~022,~~374~~966.1451 1,~~096~~067.9227 6076,~~310~~247.7125 0.00 0.00 B-4 540,500.00 ~~394~~371,~~258~~931.1952 ~~398~~388.8204 2127,~~927~~722.8508 0.00 0.00 B-5 540,500.00 ~~394~~371,~~258~~931.1952 ~~398~~388.8204 2127,~~927~~722.8508 0.00 0.00 B-6 540,697.70 ~~394~~372,~~402~~067.3753 ~~398~~388.9718 2127,~~935~~732.8721 0.00 0.00 Totals 270,274,997.70 7062,~~759~~803,~~265~~023.4877 7165,~~718~~606.3126 79,~~884~~322,~~523~~157.4028 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 32,~~747~~992,~~938~~424.3779 2522,~~775~~782,~~189~~764.4062 0.~~22747779~~20106827 32,~~747~~992,~~938~~424.3779 II-A 35,~~873~~973,~~370~~645.3753 3125,~~448~~474,~~312~~667.6917 0.~~21126384~~17113401 35,~~873~~973,~~370~~645.3753 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 ~~117~~147,~~222~~587.2321 1,~~952~~805,~~760~~173.9069 0.~~68812492~~63611731 ~~117~~147,~~222~~587.2321 B-2 89112,~~314~~450.9387 1,~~487~~375,~~863~~412.7084 0.~~68812492~~63611731 89112,~~314~~450.9387 B-3 6177,~~407~~314.6352 1945,~~022,966~~651.5199 0.~~68812492~~63611731 6177,~~407~~314.6352 B-4 2228,~~326~~110.6712 ~~371~~343,~~931~~821.5240 0.~~68812492~~63611730 2228,~~326~~110.6712 B-5 2228,~~326~~110.6712 ~~371~~343,~~931~~821.5240 0.~~68812492~~63611730 2228,~~326~~110.6712 B-6 2228,~~334~~120.8340 ~~372~~343,~~067~~947.5314 0.~~68812486~~63611726 2228,~~334~~120.8340 Totals 79,~~956~~387,~~241~~763.7056 6253,~~803~~415,~~023~~260.7725 0.~~23236712~~19763301 79,~~956~~387,~~241~~763.7056

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 113,308,600.00 ~~260~~227.~~55504851~~47778545 0.~~28857898~~25593591 3226.~~78868409~~15357563 0.00000000 II-A 148,858,000.00 ~~237~~211.~~28441239~~26383997 0.~~22193594~~20681011 2539.~~79863642~~92301516 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 ~~729~~688.~~43235253~~12492071 0.~~73787089~~71792938 4051.~~56956093~~28968567 0.00000000 B-2 2,162,200.00 ~~729~~688.~~43235131~~12491906 0.~~73787346~~71793081 4051.~~56956341~~28968643 0.00000000 B-3 1,486,600.00 ~~729~~688.~~43235571~~12492264 0.~~73787165~~71792681 4051.~~56956142~~28968788 0.00000000 B-4 540,500.00 ~~729~~688.~~43235893~~12492137 0.~~73787234~~71792784 4051.~~56956522~~28969473 0.00000000 B-5 540,500.00 ~~729~~688.~~43235893~~12492137 0.~~73787234~~71792784 4051.~~56956522~~28969473 0.00000000 B-6 540,697.70 ~~729~~688.~~43230570~~12486164 0.~~73787997~~71792427 4051.~~56956410~~28967628 0.00000000 2) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 3326.~~07726307~~40951163 ~~227~~201.~~47778545~~06827390 0.~~22747779~~20106827 3326.~~07726307~~40951163 II-A 0.00000000 2640.~~02057242~~12982527 ~~211~~171.~~26383997~~13401477 0.~~21126384~~17113401 2640.~~02057242~~12982527 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4152.~~30743181~~00761505 ~~688~~636.~~12492071~~11730566 0.~~68812492~~63611731 4152.~~30743181~~00761505 B-2 0.00000000 4152.~~30743224~~00761724 ~~688~~636.~~12491906~~11730645 0.~~68812492~~63611731 4152.~~30743224~~00761724 B-3 0.00000000 4152.~~30743307~~00761469 ~~688~~636.~~12492264~~11730795 0.~~68812492~~63611731 4152.~~30743307~~00761469 B-4 0.00000000 4152.~~30743756~~00762257 ~~688~~636.~~12492137~~11729880 0.~~68812492~~63611730 4152.~~30743756~~00762257 B-5 0.00000000 4152.~~30743756~~00762257 ~~688~~636.~~12492137~~11729880 0.~~68812492~~63611730 4152.~~30743756~~00762257 B-6 0.00000000 4152.~~30742557~~00761904 ~~688~~636.~~12486164~~11726109 0.~~68812486~~63611726 4152.~~30742557~~00761904 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 113,308,600.00 5.~~94172~~91326% 2925,~~523~~775,~~127~~189.7740 ~~146~~127,~~181~~012.8292 0.00 0.00 II-A 148,858,000.00 6.~~03522~~03714% 3531,~~321~~448,~~683~~312.0669 ~~177~~158,~~645~~214.0575 0.00 0.00 R-I 50.00 6.~~11568~~11526% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~11568~~11526% 0.00 0.00 0.00 0.00 B-1 2,837,800.00 5.~~99383~~98257% 21,~~069~~952,~~983~~760.1390 109,~~339~~735.2644 0.00 0.00 B-2 2,162,200.00 5.~~99383~~98257% 1,~~577~~487,~~178~~863.6370 7,~~877~~417.7871 0.00 0.00 B-3 1,486,600.00 5.~~99383~~98257% 1,~~084~~022,~~374~~966.1451 5,~~416~~099.2997 0.00 0.00 B-4 540,500.00 5.~~99383~~98257% ~~394~~371,~~258~~931.1952 1,~~969~~854.26 0.00 0.00 B-5 540,500.00 5.~~99383~~98257% ~~394~~371,~~258~~931.1952 1,~~969~~854.26 0.00 0.00 B-6 540,697.70 5.~~99383~~98257% ~~394~~372,~~402~~067.3753 1,~~969~~854.9893 0.00 0.00 Totals 270,274,997.70 ~~353~~313,~~368~~044.7024 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 12,~~595~~825.2375 0.00 ~~144~~124,~~586~~187.5916 0.00 2522,~~775~~782,~~189~~764.4062 II-A 13,~~938~~519.5793 0.00 ~~175~~154,~~706~~694.4883 0.00 3125,~~448~~474,~~312~~667.6917 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 ~~112~~216.8359 0.00 109,~~226~~518.4485 0.00 1,~~952~~805,~~760~~173.9069 B-2 85165.9703 0.00 7,~~791~~252.8168 0.00 1,~~487~~375,~~863~~412.7084 B-3 59113.1146 0.00 54,~~357~~986.1851 0.00 1945,~~022,966~~651.5199 B-4 2141.4925 0.00 1,~~947~~813.7700 0.00 ~~371~~343,~~931~~821.5240 B-5 2141.4925 0.00 1,~~947~~813.7700 0.00 ~~371~~343,~~931~~821.5240 B-6 2141.5027 0.00 1,~~948~~813.4867 0.00 ~~372~~343,~~067~~947.5314 Totals 36,~~856~~964.1953 0.00 ~~349~~306,~~512~~079.5270 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 113,308,600.00 5.~~94172~~91326% ~~260~~227.~~55504851~~47778545 1.~~29012114~~12094687 0.00000000 0.00000000 II-A 148,858,000.00 6.~~03522~~03714% ~~237~~211.~~28441239~~26383997 1.~~19338598~~06285688 0.00000000 0.00000000 R-I 50.00 6.~~11568~~11526% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~11568~~11526% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 5.~~99383~~98257% ~~729~~688.~~43235253~~12492071 3.~~64340686~~43062936 0.00000000 0.00000000 B-2 2,162,200.00 5.~~99383~~98257% ~~729~~688.~~43235131~~12491906 3.~~64340949~~43063084 0.00000000 0.00000000 B-3 1,486,600.00 5.~~99383~~98257% ~~729~~688.~~43235571~~12492264 3.~~64340778~~43062693 0.00000000 0.00000000 B-4 540,500.00 5.~~99383~~98257% ~~729~~688.~~43235893~~12492137 3.~~64340426~~43063830 0.00000000 0.00000000 B-5 540,500.00 5.~~99383~~98257% ~~729~~688.~~43235893~~12492137 3.~~64340426~~43063830 0.00000000 0.00000000 B-6 540,697.70 5.~~99383~~98257% ~~729~~688.~~43230570~~12486164 3.~~64340370~~43062306 0.00000000 0.00000000 5) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.~~01407863~~02493853 0.00000000 1.~~27604251~~09600825 0.00000000 ~~227~~201.~~47778545~~06827390 II-A 0.~~01302295~~02364623 0.00000000 1.~~18036303~~03921072 0.00000000 ~~211~~171.~~26383997~~13401477 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~03975967~~07632321 0.00000000 3.~~60365072~~35430615 0.00000000 ~~688~~636.~~12492071~~11730566 B-2 0.~~03976043~~07632504 0.00000000 3.~~60364906~~35430580 0.00000000 ~~688~~636.~~12491906~~11730645 B-3 0.~~03976187~~07632181 0.00000000 3.~~60364590~~35430513 0.00000000 ~~688~~636.~~12492264~~11730795 B-4 0.~~03975948~~07631822 0.00000000 3.~~60364477~~35430157 0.00000000 ~~688~~636.~~12492137~~11729880 B-5 0.~~03975948~~07631822 0.00000000 3.~~60364477~~35430157 0.00000000 ~~688~~636.~~12492137~~11729880 B-6 0.~~03976344~~07632731 0.00000000 3.~~60364026~~35431425 0.00000000 ~~688~~636.~~12486164~~11726109 (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 89,~~321~~710,~~338~~858.9012 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 810,~~894~~349.5976 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 89,~~330~~721,~~233~~207.4988 Withdrawals Reimbursement for Servicer Advances 158,~~675~~894.3059 Payment of Service Fee 818,~~803~~470.9703 Payment of Interest and Principal 89,~~305~~693,~~754~~843.2226 Total Withdrawals (Pool Distribution Amount) 89,~~330~~721,~~233~~207.4988 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 156,~~697~~964.3953 Servicing Fee Support ~~11,841~~0.2100 Non-Supported Prepayment/Curtailment Interest Shortfall 36,~~856~~964.1853

SERVICING FEES Gross Servicing Fee 2018,~~645~~470.1803 Supported Prepayment/Curtailment Interest Shortfall ~~11,841~~0.2100 Net Servicing Fee 818,~~803~~470.9703

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 13 0 0 0 13 ~~555~~1,~~715~~150,857.6379 0.00 0.00 0.00 ~~555~~1,~~715~~150,857.6379 60 Days 10 0 0 0 10 ~~378,607~~0.4000 0.00 0.00 0.00 ~~378,607~~0.4000 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0498,146.0027 0.00 0498,146.0027 150 Days 0 0 10 0 10 0.00 0.00 ~~499,160~~0.9800 0.00 ~~499,160~~0.9800 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 23 0 1 0 34 ~~934~~1,~~323~~150,857.0379 0.00 ~~499~~498,~~160~~146.9827 0.00 1,~~433~~649,~~484~~004.0106 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 02.~~649351~~255639% 0.000000% 0.000000% 0.000000% 02.~~649351~~255639% 02.~~884087~~152389% 0.000000% 0.000000% 0.000000% 02.~~884087~~152389% 60 Days 0.~~649351~~000000% 0.000000% 0.000000% 0.000000% 0.~~649351~~000000% 0.~~602326~~000000% 0.000000% 0.000000% 0.000000% 0.~~602326~~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~~751880% 0.000000% 0.~~000000~~751880% 0.000000% 0.000000% 0.~~000000~~931657% 0.000000% 0.~~000000~~931657% 150 Days 0.000000% 0.000000% 0.~~649351~~000000% 0.000000% 0.~~649351~~000000% 0.000000% 0.000000% 0.~~794114~~000000% 0.000000% 0.~~794114~~000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~298701~~255639% 0.000000% 0.~~649351~~751880% 0.000000% 13.~~948052~~007519% 12.~~486413~~152389% 0.000000% 0.~~794114~~931657% 0.000000% 23.~~280527~~084046%

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 01 0 0 0 01 0408,022.0021 0.00 0.00 0.00 0408,022.0021 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 0408,022.0021 0.00 0.00 0.00 0408,022.0021 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~724138% 0.000000% 0.000000% 0.000000% 01.~~000000~~724138% 01.~~000000~~623766% 0.000000% 0.000000% 0.000000% 01.~~000000~~623766% 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~~724138% 0.000000% 0.000000% 0.000000% 01.~~000000~~724138% 01.~~000000~~623766% 0.000000% 0.000000% 0.000000% 01.~~000000~~623766% 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 12 0 0 0 12 ~~555~~742,~~715~~835.6358 0.00 0.00 0.00 ~~555~~742,~~715~~835.6358 60 Days 10 0 0 0 10 ~~378,607~~0.4000 0.00 0.00 0.00 ~~378,607~~0.4000 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0498,146.0027 0.00 0498,146.0027 150 Days 0 0 10 0 10 0.00 0.00 ~~499,160~~0.9800 0.00 ~~499,160~~0.9800 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 0 1 0 3 ~~934~~742,~~323~~835.0358 0.00 ~~499~~498,~~160~~146.9827 0.00 1,~~433~~240,~~484~~981.0185 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~123596~~666667% 0.000000% 0.000000% 0.000000% 12.~~123596~~666667% 12.~~606153~~621091% 0.000000% 0.000000% 0.000000% 12.~~606153~~621091% 60 Days 10.~~123596~~000000% 0.000000% 0.000000% 0.000000% 10.~~123596~~000000% 10.~~094267~~000000% 0.000000% 0.000000% 0.000000% 10.~~094267~~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% 01.~~000000~~333333% 0.000000% 01.~~000000~~333333% 0.000000% 0.000000% 01.~~000000~~757706% 0.000000% 01.~~000000~~757706% 150 Days 0.000000% 0.000000% 10.~~123596~~000000% 0.000000% 10.~~123596~~000000% 0.000000% 0.000000% 10.~~442697~~000000% 0.000000% 10.~~442697~~000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.~~247191~~666667% 0.000000% 1.~~123596~~333333% 0.000000% 34.~~370787~~000000% 2.~~700421~~621091% 0.000000% 1.~~442697~~757706% 0.000000% 4.~~143118~~378796%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 810,~~894~~349.5976

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 156,966,397.70 58.07655130% 3730,~~027~~632,~~834~~495.3763 5857.~~95868087~~34783560% 4142.~~041319~~652164% 95.~~926708~~647321% Class 2A 8,108,397.70 3.00005467% 5,~~579~~157,~~521~~828.6846 89.~~88416090~~65609535% 5047.~~074520~~691740% 2221.~~958628~~498010% Class B-1 5,270,597.70 1.95008704% 3,~~626~~352,~~760~~654.7877 56.~~77481873~~27658604% 3.~~109342~~379509% 1.~~425600~~523382% Class B-2 3,108,397.70 1.15008703% 21,~~138~~977,~~897~~241.0893 3.~~40572309~~70164242% 2.~~369096~~574944% 1.~~086205~~160708% Class B-3 1,621,797.70 0.60005465% 1,~~115~~031,~~930~~589.5794 1.~~77687395~~93126447% 1.~~628849~~770378% 0.~~746810~~798033% Class B-4 1,081,297.70 0.40007315% ~~743~~687,~~999~~768.0554 1.~~18465482~~28758811% 0.~~592219~~643676% 0.~~271526~~290150% Class B-5 540,797.70 0.20009165% ~~372~~343,~~067~~947.5314 0.~~59243569~~64391176% 0.~~592219~~643676% 0.~~271526~~290150% Class B-6 100.00 0.00003700% 0.00 0.00000000% 0.~~592436~~643912% 0.~~271625~~290256% Class R-II 50.00 0.00001850% 0.00 0.00000000% 0.000000% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~342868~~334362% Weighted Average Net Coupon 5.~~992748~~981449% Weighted Average Pass-Through Rate 5.~~992748~~981449% Weighted Average Maturity(Stepdown Calculation ) ~~341~~340 Beginning Scheduled Collateral Loan Count ~~172~~154 Number Of Loans Paid In Full 1821 Ending Scheduled Collateral Loan Count ~~154~~133 Beginning Scheduled Collateral Balance 7062,~~759~~803,~~265~~023.4878 Ending Scheduled Collateral Balance 6253,~~803~~415,~~023~~260.7824 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 6253,~~857~~468,~~567~~846.6621 Monthly P &I Constant ~~445~~397,~~732~~120.2053 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 79,~~945~~251,~~135~~297.6198 Ending Scheduled Balance for Premium Loans 6253,~~803~~415,~~023~~260.7824 Scheduled Principal 7165,~~718~~606.3127 Unscheduled Principal 79,~~884~~322,~~523~~157.3927

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage - Group 1 91.~~853415~~294641% Senior Percentage - Group 2 9190.~~465015~~969814% Senior Prepay Pct - Group 1 95.~~926708~~647321% Senior Prepay Pct - Group 2 95.~~732507~~484907% Subordinate Percentage - Group 1 8.~~146585~~705359% Subordinate Percentage - Group 2 89.~~534985~~030186% Sub Prep Percentage Group 1 4.~~073292~~352679% Sub Prep Percentage Group 2 4.~~267493~~515093%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~261947~~239133 6.~~410218~~412135 6.~~342868~~334362 Weighted Average Net Rate 5.~~941721~~913264 6.~~035218~~037135 5.~~992748~~981449 Weighted Average Maturity 339 340 ~~341~~340 ~~341~~ Beginning Loan Count 7365 9989 ~~172~~154 Loans Paid In Full 87 1014 1821 Ending Loan Count 6558 8975 ~~154~~133 Beginning Scheduled Balance 3228,~~141~~232,~~567~~970.9091 3834,~~617~~570,~~697~~052.5887 7062,~~759~~803,~~265~~023.4878 Ending scheduled Balance 2825,~~232~~102,~~970~~922.9152 3428,~~570~~312,~~052~~337.8772 6253,~~803~~415,~~023~~260.7824 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~203~~178,~~322~~556.5506 ~~242~~218,~~409~~564.6547 ~~445~~397,~~732~~120.2053 Scheduled Principal 3531,~~598~~765.5500 3633,~~119~~841.7627 7165,~~718~~606.3127 Unscheduled Principal 3,~~872~~098,~~998~~283.4439 46,~~011~~223,~~524~~873.9588 79,~~884~~322,~~523~~157.3927 Scheduled Interest ~~167~~146,~~724~~791.0006 ~~206~~184,~~289~~723.8920 ~~374~~331,~~013~~514.8926 Servicing Fees 87,~~577~~666.1589 1210,~~068~~803.0314 2018,~~645~~470.1803 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~159~~139,~~146~~124.8517 ~~194~~173,~~221~~920.8606 ~~353~~313,~~368~~044.7123 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.~~941721~~913264 6.~~035218~~037135 5.~~992748~~981449

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