8-K 1 bst02002.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 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-21 45-0470721 Pooling and Servicing Agreement) (Commission 45-0470722 (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 2002-2 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 2002-2 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 2002-2 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 2002-2 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: 2002-2 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 07384MJB9 SEN 2.~~92923~~90188% 9087,~~175~~547,~~586~~476.7095 ~~217~~211,~~327~~710.9552 21,~~628~~203,~~109~~579.7569 II-A 07384MJE3 SEN 6.~~24125~~14526% 1312,~~862~~770,~~145~~552.2228 7165,~~182~~398.8561 1,~~091~~660,~~592~~412.9450 III-A 07384MJF0 SEN 6.~~75713~~80286% 1915,~~133~~337,~~723~~503.1013 ~~106~~86,~~373~~949.8910 31,~~796~~444,~~219~~512.9771 R-1 07384MJC7 RES 3.~~62317~~62267% 0.00 0.00 0.00 R-2 07384MJD5 RES 3.~~62317~~62267% 0.00 0.00 0.00 B-1 07384MJG8 SUB 4.~~82443~~80385% 4,~~671~~668,~~846~~632.4216 18,~~544~~689.1751 3,~~214~~022.2589 B-2 07384MJH6 SUB 4.~~82443~~80385% 2,~~102~~101,~~548~~101.4488 8,~~345~~411.7415 1,~~446~~360.5644 B-3 07384MJJ2 SUB 4.~~82443~~80385% 1,~~401~~400,~~534~~569.1589 5,~~563~~606.1777 ~~964~~906.2685 B-4 07384MJT0 SUB 4.~~82443~~80385% ~~934~~933,~~389~~746.0620 3,~~708~~737.9198 ~~642~~604.8659 B-5 07384MJU7 SUB 4.~~82443~~80385% 700,~~717~~235.6353 2,~~781~~803.3919 ~~482~~453.1039 B-6 07384MJV5 SUB 4.~~82443~~80385% 700,~~980~~498.8052 2,~~782~~804.4324 ~~482~~453.2857 Totals ~~133~~126,~~683~~160,~~471~~316.5254 ~~436~~406,~~610~~111.5007 74,~~523~~315,~~154~~306.9763

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 8786,~~547~~343,~~476~~897.9526 21,~~845~~415,~~437~~290.7021 0.00 II-A 0.00 1211,~~770~~110,~~552~~139.2878 1,~~162~~725,~~775~~811.7911 0.00 III-A 0.00 1513,~~337~~892,~~503~~990.1342 31,~~902~~531,~~593~~461.8681 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 B-1 0.00 4,~~668~~665,~~632~~609.1627 21,~~758~~712.4240 0.00 B-2 0.00 2,~~101~~099,~~101~~741.8844 9,~~792~~771.3059 0.00 B-3 0.00 1,~~400~~399,~~569~~663.8903 6,~~527~~513.4362 0.00 B-4 0.00 933,~~746~~141.2061 4,~~351~~342.7757 0.00 B-5 0.00 ~~700~~699,~~235~~782.5314 3,~~263~~256.4958 0.00 B-6 0.00 700,~~498~~044.5296 3,~~264~~257.7181 0.00 Totals 0.00 ~~126~~121,~~160~~845,~~316~~009.5491 74,~~959~~721,~~765~~417.4770 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 106,205,800.00 9087,~~175~~547,~~586~~476.7095 0.00 21,~~628~~203,~~109~~579.7569 0.00 0.00 II-A 48,612,400.00 1312,~~862~~770,~~145~~552.2228 16,~~836~~212.5993 1,~~074~~644,~~756~~199.3557 0.00 0.00 III-A 70,774,500.00 1915,~~133~~337,~~723~~503.1013 2618,~~427~~617.3597 31,~~769~~425,~~792~~894.6274 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4,~~671~~668,~~846~~632.4216 3,~~214~~022.2589 0.00 0.00 0.00 B-2 2,126,200.00 2,~~102~~101,~~548~~101.4488 1,~~446~~360.5644 0.00 0.00 0.00 B-3 1,417,300.00 1,~~401~~400,~~534~~569.1589 ~~964~~906.2685 0.00 0.00 0.00 B-4 944,900.00 ~~934~~933,~~389~~746.0620 ~~642~~604.8659 0.00 0.00 0.00 B-5 708,600.00 700,~~717~~235.6353 ~~482~~453.1039 0.00 0.00 0.00 B-6 708,866.18 700,~~980~~498.8052 ~~482~~453.2857 0.00 0.00 0.00 Totals 236,223,066.18 ~~133~~126,~~683~~160,~~471~~316.5254 5041,~~496~~632.2563 74,~~472~~273,~~658~~674.7200 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 21,~~628~~203,~~109~~579.7569 8786,~~547~~343,~~476~~897.9526 0.~~82431917~~81298665 21,~~628~~203,~~109~~579.7569 II-A 1,~~091~~660,~~592~~412.9450 1211,~~770~~110,~~552~~139.2878 0.~~26270154~~22854539 1,~~091~~660,~~592~~412.9450 III-A 31,~~796~~444,~~219~~512.9771 1513,~~337~~892,~~503~~990.1342 0.~~21670945~~19629938 31,~~796~~444,~~219~~512.9771 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 B-1 3,~~214~~022.2589 4,~~668~~665,~~632~~609.1627 0.~~98819578~~98755594 3,~~214~~022.2589 B-2 1,~~446~~360.5644 2,~~101~~099,~~101~~741.8844 0.~~98819579~~98755594 1,~~446~~360.5644 B-3 ~~964~~906.2685 1,~~400~~399,~~569~~663.8903 0.~~98819579~~98755594 ~~964~~906.2685 B-4 ~~642~~604.8659 933,~~746~~141.2061 0.~~98819579~~98755594 ~~642~~604.8659 B-5 ~~482~~453.1039 ~~700~~699,~~235~~782.5314 0.~~98819578~~98755594 ~~482~~453.1039 B-6 ~~482~~453.2857 700,~~498~~044.5296 0.~~98819571~~98755587 ~~482~~453.2857 Totals 74,~~523~~315,~~154~~306.9763 ~~126~~121,~~160~~845,~~316~~009.5491 0.~~53407281~~51580488 74,~~523~~315,~~154~~306.9763

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 106,205,800.00 ~~849~~824.~~06461512~~31917042 0.00000000 2411.~~74544469~~33252318 0.00000000 II-A 48,612,400.00 ~~285~~262.~~15656952~~70153870 0.~~34634353~~33351429 2233.~~10868729~~82263723 0.00000000 III-A 70,774,500.00 ~~270~~216.~~34769726~~70945227 0.~~37340214~~26306042 5320.~~26484285~~14701255 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 988.~~87613665~~19578359 0.~~68035094~~63984633 0.00000000 0.00000000 B-2 2,126,200.00 988.~~87613583~~19578591 0.~~68034992~~63984573 0.00000000 0.00000000 B-3 1,417,300.00 988.~~87613773~~19578777 0.~~68034996~~63984336 0.00000000 0.00000000 B-4 944,900.00 988.~~87613504~~19578791 0.~~68034713~~63984549 0.00000000 0.00000000 B-5 708,600.00 988.~~87613604~~19578041 0.~~68035563~~63983912 0.00000000 0.00000000 B-6 708,866.18 988.~~87606685~~19571276 0.~~68035408~~63985279 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 0.00000000 2411.~~74544469~~33252318 ~~824~~812.~~31917042~~98664725 0.~~82431917~~81298665 2411.~~74544469~~33252318 II-A 0.00000000 2234.~~45503082~~15615152 ~~262~~228.~~70153870~~54538719 0.~~26270154~~22854539 2234.~~45503082~~15615152 III-A 0.00000000 5320.~~63824499~~41007298 ~~216~~196.~~70945227~~29937930 0.~~21670945~~19629938 5320.~~63824499~~41007298 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~68035094~~63984633 ~~988~~987.~~19578359~~55593726 0.~~98819578~~98755594 0.~~68035094~~63984633 B-2 0.00000000 0.~~68034992~~63984573 ~~988~~987.~~19578591~~55594017 0.~~98819579~~98755594 0.~~68034992~~63984573 B-3 0.00000000 0.~~68034996~~63984336 ~~988~~987.~~19578777~~55593735 0.~~98819579~~98755594 0.~~68034996~~63984336 B-4 0.00000000 0.~~68034713~~63984549 ~~988~~987.~~19578791~~55594243 0.~~98819579~~98755594 0.~~68034713~~63984549 B-5 0.00000000 0.~~68035563~~63983912 ~~988~~987.~~19578041~~55594129 0.~~98819578~~98755594 0.~~68035563~~63983912 B-6 0.00000000 0.~~68035408~~63985279 ~~988~~987.~~19571276~~55587409 0.~~98819571~~98755587 0.~~68035408~~63985279 (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 106,205,800.00 2.~~92923~~90188% 9087,~~175~~547,~~586~~476.7095 ~~220~~211,~~120~~710.7653 0.00 0.00 II-A 48,612,400.00 6.~~24125~~14526% 1312,~~862~~770,~~145~~552.2228 7265,~~097~~398.5961 0.00 0.00 III-A 70,774,500.00 6.~~75713~~80286% 1915,~~133~~337,~~723~~503.1013 ~~107~~86,~~740~~949.8711 0.00 0.00 R-1 50.00 3.~~62317~~62267% 0.00 0.00 0.00 0.00 R-2 50.00 3.~~62317~~62267% 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4.~~82443~~80385% 4,~~671~~668,~~846~~632.4216 18,~~782~~689.4851 0.00 0.00 B-2 2,126,200.00 4.~~82443~~80385% 2,~~102~~101,~~548~~101.4488 8,~~452~~411.9915 0.00 0.00 B-3 1,417,300.00 4.~~82443~~80385% 1,~~401~~400,~~534~~569.1589 5,~~634~~606.6677 0.00 0.00 B-4 944,900.00 4.~~82443~~80385% ~~934~~933,~~389~~746.0620 3,~~756~~737.5798 0.00 0.00 B-5 708,600.00 4.~~82443~~80385% 700,~~717~~235.6353 2,~~817~~803.1319 0.00 0.00 B-6 708,866.18 4.~~82443~~80385% 700,~~980~~498.8052 2,~~818~~804.1924 0.00 0.00 Totals 236,223,066.18 ~~442~~406,~~221~~111.2409 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 ~~2,792~~0.8101 0.00 ~~217~~211,~~327~~710.9552 0.00 8786,~~547~~343,~~476~~897.9526 II-A ~~914~~0.7500 0.00 7165,~~182~~398.8561 0.00 1211,~~770~~110,~~552~~139.2878 III-A ~~1,366~~0.9700 0.00 ~~106~~86,~~373~~949.8910 0.00 1513,~~337~~892,~~503~~990.1342 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 B-1 ~~238~~0.3000 0.00 18,~~544~~689.1751 0.00 4,~~668~~665,~~632~~609.1627 B-2 ~~107~~0.2500 0.00 8,~~345~~411.7415 0.00 2,~~101~~099,~~101~~741.8844 B-3 710.4900 0.00 5,~~563~~606.1777 0.00 1,~~400~~399,~~569~~663.8903 B-4 470.6600 0.00 3,~~708~~737.9198 0.00 933,~~746~~141.2061 B-5 350.7400 0.00 2,~~781~~803.3919 0.00 ~~700~~699,~~235~~782.5314 B-6 350.7600 0.00 2,~~782~~804.4324 0.00 700,~~498~~044.5296 Totals ~~5,610~~0.7301 0.00 ~~436~~406,~~610~~111.5007 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 106,205,800.00 2.~~92923~~90188% ~~849~~824.~~06461512~~31917042 21.~~07258700~~99339895 0.00000000 0.00000000 II-A 48,612,400.00 6.~~24125~~14526% ~~285~~262.~~15656952~~70153870 1.~~48311110~~34530716 0.00000000 0.00000000 III-A 70,774,500.00 6.~~75713~~80286% ~~270~~216.~~34769726~~70945227 1.~~52231199~~22853726 0.00000000 0.00000000 R-1 50.00 3.~~62317~~62267% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 3.~~62317~~62267% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 4.~~82443~~80385% 988.~~87613665~~19578359 3.~~97563288~~95595420 0.00000000 0.00000000 B-2 2,126,200.00 4.~~82443~~80385% 988.~~87613583~~19578591 3.~~97563258~~95595428 0.00000000 0.00000000 B-3 1,417,300.00 4.~~82443~~80385% 988.~~87613773~~19578777 3.~~97562972~~95595146 0.00000000 0.00000000 B-4 944,900.00 4.~~82443~~80385% 988.~~87613504~~19578791 3.~~97562705~~95595301 0.00000000 0.00000000 B-5 708,600.00 4.~~82443~~80385% 988.~~87613604~~19578041 3.~~97562800~~95595541 0.00000000 0.00000000 B-6 708,866.18 4.~~82443~~80385% 988.~~87606685~~19571276 3.~~97563049~~95595118 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 0.~~02629621~~00000009 0.00000000 21.~~04629079~~99339885 0.00000000 ~~824~~812.~~31917042~~98664725 II-A 0.~~01881722~~00000000 0.00000000 1.~~46429409~~34530716 0.00000000 ~~262~~228.~~70153870~~54538719 III-A 0.~~01931444~~00000000 0.00000000 1.~~50299741~~22853711 0.00000000 ~~216~~196.~~70945227~~29937930 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~05044027~~00000000 0.00000000 3.~~92519050~~95595420 0.00000000 ~~988~~987.~~19578359~~55593726 B-2 0.~~05044210~~00000000 0.00000000 3.~~92519048~~95595428 0.00000000 ~~988~~987.~~19578591~~55594017 B-3 0.~~05044098~~00000000 0.00000000 3.~~92518874~~95595146 0.00000000 ~~988~~987.~~19578777~~55593735 B-4 0.~~05043920~~00000000 0.00000000 3.~~92518785~~95595301 0.00000000 ~~988~~987.~~19578791~~55594243 B-5 0.~~05043748~~00000000 0.00000000 3.~~92519052~~95595541 0.00000000 ~~988~~987.~~19578041~~55594129 B-6 0.~~05044676~~00000000 0.00000000 3.~~92518373~~95595118 0.00000000 ~~988~~987.~~19571276~~55587409 (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 74,~~976~~763,~~759~~791.8356 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1513,~~515~~618.4804 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 74,~~992~~777,~~275~~409.3160 Withdrawals Reimbursement for Servicer Advances 515,~~050~~515.0648 Payment of Service Fee 2740,~~459~~476.7842 Payment of Interest and Principal 74,~~959~~721,~~765~~417.4770 Total Withdrawals (Pool Distribution Amount) 74,~~992~~777,~~275~~409.3160 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~21,041~~0.0800 Servicing Fee Support ~~15,430~~0.3500 Non-Supported Prepayment/Curtailment Interest Shortfall ~~5,610~~0.7300

SERVICING FEES Gross Servicing Fee 4139,~~776~~425.1009 Master Servicing Fee 1,~~114~~051.0333 Supported Prepayment/Curtailment Interest Shortfall ~~15,430~~0.3500 Net Servicing Fee 2740,~~459~~476.7842

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 1 0 0 1 167,600.00 0.00 0.00 167,600.00 30 Days 41 0 0 0 41 2259,~~891,161~~929.9755 0.00 0.00 0.00 2259,~~891,161~~929.9755 60 Days 02 0 0 0 02 01,884,619.0076 0.00 0.00 0.00 01,884,619.0076 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 1 2 0 3 0.00 139,522.63 287,050.00 0.00 426,572.63 Totals 43 2 2 0 87 2,~~891~~144,~~161~~549.9731 307,122.63 287,050.00 0.00 32,~~485~~738,~~334~~721.6094 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.~~289017~~299401% 0.000000% 0.000000% 0.~~289017~~299401% 0.~~132807~~137509% 0.000000% 0.000000% 0.~~132807~~137509% 30 Days 10.~~156069~~299401% 0.000000% 0.000000% 0.000000% 10.~~156069~~299401% 20.~~290970~~213262% 0.000000% 0.000000% 0.000000% 20.~~290970~~213262% 60 Days 0.~~000000~~598802% 0.000000% 0.000000% 0.000000% 0.~~000000~~598802% 01.~~000000~~546260% 0.000000% 0.000000% 0.000000% 01.~~000000~~546260% 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.~~289017~~299401% 0.~~578035~~598802% 0.000000% 0.~~867052~~898204% 0.000000% 0.~~110558~~114473% 0.~~227460~~235514% 0.000000% 0.~~338018~~349987% Totals 10.~~156069~~898204% 0.~~578035~~598802% 0.~~578035~~598802% 0.000000% 2.~~312139~~095808% 21.~~290970~~759522% 0.~~243365~~251983% 0.~~227460~~235514% 0.000000% 2.~~761795~~247018%

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 1 0 0 1 167,600.00 0.00 0.00 167,600.00 30 Days 21 0 0 0 2 1 259,~~006,542~~929.2155 0.00 0.00 0.00 1259,~~006,542~~929.2155 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 1 2 0 3 0.00 139,522.63 287,050.00 0.00 426,572.63 Totals 21 2 2 0 65 1259,~~006,542~~929.2155 307,122.63 287,050.00 0.00 1854,~~600,714~~102.8418 0-29 Days 0.~~352113~~357143% 0.000000% 0.000000% 0.~~352113~~357143% 0.~~181087~~183473% 0.000000% 0.000000% 0.~~181087~~183473% 30 Days 0.~~704225~~357143% 0.000000% 0.000000% 0.000000% 0.~~704225~~357143% 10.~~087543~~284547% 0.000000% 0.000000% 0.000000% 10.~~087543~~284547% 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.~~352113~~357143% 0.~~704225~~714286% 0.000000% 1.~~056338~~071429% 0.000000% 0.~~150751~~152737% 0.~~310150~~314237% 0.000000% 0.~~460901~~466973% Totals 0.~~704225~~357143% 0.~~704225~~714286% 0.~~704225~~714286% 0.000000% 21.~~112676~~785714% 10.~~087543~~284547% 0.~~331838~~336210% 0.~~310150~~314237% 0.000000% 10.~~729531~~934994% 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 20 0 0 0 20 ~~1,884,619~~0.7600 0.00 0.00 0.00 ~~1,884,619~~0.7600 60 Days 02 0 0 0 02 01,884,619.0076 0.00 0.00 0.00 01,884,619.0076 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 1,884,619.76 0.00 0.00 0.00 1,884,619.76 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 60.~~666667~~000000% 0.000000% 0.000000% 0.000000% 60.~~666667~~000000% 120.~~534431~~000000% 0.000000% 0.000000% 0.000000% 120.~~534431~~000000% 60 Days 07.~~000000~~692308% 0.000000% 0.000000% 0.000000% 07.~~000000~~692308% 014.~~000000~~092471% 0.000000% 0.000000% 0.000000% 014.~~000000~~092471% 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 67.~~666667~~692308% 0.000000% 0.000000% 0.000000% 67.~~666667~~692308% 1214.~~534431~~092471% 0.000000% 0.000000% 0.000000% 1214.~~534431~~092471% 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 1513,~~515~~618.4804

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 130,017,266.18 55.04003833% 3835,~~612~~501,~~839~~112.5965 3029.~~60616892~~13628771% 6970.~~393831~~863712% 100.000000% Class R-I 130,017,216.18 55.04001717% 3835,~~612~~501,~~839~~112.5965 3029.~~60616892~~13628771% 0.000000% 0.000000% Class R-II 130,017,166.18 55.03999600% 3835,~~612~~501,~~839~~112.5965 3029.~~60616892~~13628771% 0.000000% 0.000000% Class 2A 81,404,766.18 34.46097263% 2524,~~842~~390,~~287~~972.3187 20.~~48368934~~01803183% 109.~~122480~~118256% 0.000000% Class 3A 10,630,266.18 4.50009660% 10,~~504~~497,~~784~~982.1845 8.~~32653600~~61584931% 1211.~~157153~~402183% 0.000000% Class B-1 5,905,866.18 2.50012256% 5,~~836~~832,~~152~~373.0218 4.~~62598080~~78671485% 3.~~700555~~829134% 0.000000% Class B-2 3,779,666.18 1.60004111% 3,~~735~~732,~~050~~631.1474 23.~~96055863~~06342602% 1.~~665422~~723289% 0.000000% Class B-3 2,362,366.18 1.00005737% 2,~~334~~332,~~480~~968.2571 1.~~85040773~~91470189% 1.~~110151~~148724% 0.000000% Class B-4 1,417,466.18 0.60005409% 1,~~400~~399,~~734~~827.0510 1.~~11028102~~14885878% 0.~~740127~~765843% 0.000000% Class B-5 708,866.18 0.30008339% 700,~~498~~044.5296 0.~~55524474~~57453724% 0.~~555036~~574322% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~555245~~574537% 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 4.~~354567~~247810% Weighted Average Net Coupon 3.~~979567~~872810% Weighted Average Pass-Through Rate 3.~~969567~~862810% Weighted Average Maturity(Stepdown Calculation ) ~~297~~296 Beginning Scheduled Collateral Loan Count ~~363~~346 Number Of Loans Paid In Full 1712 Ending Scheduled Collateral Loan Count ~~346~~334 Beginning Scheduled Collateral Balance ~~133~~126,~~683~~160,~~471~~316.5254 Ending Scheduled Collateral Balance ~~126~~121,~~160~~845,~~316~~009.5491 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~126~~121,~~198~~882,~~172~~493.8994 Monthly P &I Constant ~~535~~488,~~607~~220.6215 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 74,~~915~~672,~~881~~563.8815 Ending Scheduled Balance for Premium Loans ~~126~~121,~~160~~845,~~316~~009.5491 Scheduled Principal 5041,~~496~~632.2663 Unscheduled Principal 74,~~472~~273,~~658~~674.7200

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage Group 1 94.~~742075~~592770% Senior Percentage Group 2 8685.~~043965~~045089% Senior Percentage Group 3 8582.~~445682~~494608% Senior Prep Percentage Group 1 100.000000% Senior Prep Percentage Group 2 100.000000% Senior Prep Percentage Group 3 100.000000% Subordinate Percentage Group 1 5.~~257925~~407230% Subordinate Percentage Group 2 1314.~~956035~~954911% Subordinate Percentage Group 3 1417.~~554318~~505392% Subordinate Prep Percentage Group 1 0.000000% Subordinate Prep Percentage Group 2 0.000000% Subordinate Prep Percentage Group 3 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 3.~~314229~~286884 6.~~626250~~530257 7.~~142129~~187863 Weighted Average Net Rate 2.~~939229~~911884 6.~~251249~~155258 6.~~767129~~812863 Weighted Average Maturity ~~273~~272 ~~315~~314 ~~313~~312 Beginning Loan Count ~~292~~284 3330 3832 Loans Paid In Full 84 34 64 Ending Loan Count ~~284~~280 3026 3228 Beginning Scheduled Balance 9592,~~180~~551,~~084~~974.4772 1615,~~110~~016,~~537~~213.4769 2218,~~392~~592,~~849~~128.5813 Ending scheduled Balance 9291,~~551~~348,~~974~~395.7203 1513,~~016~~352,~~213~~950.6920 1817,~~592~~143,~~128~~664.1368 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~262~~253,~~873~~506.8035 ~~108~~100,~~527~~780.8037 ~~164~~133,~~206~~933.0243 Scheduled Principal 0.00 19,~~567~~063.4392 3022,~~928~~568.8371 Unscheduled Principal 21,~~628~~203,~~109~~579.7569 1,~~074~~644,~~756~~199.3557 31,~~769~~425,~~792~~894.6274 Scheduled Interest ~~262~~253,~~873~~506.8035 8881,~~960~~716.3745 ~~133~~111,~~277~~364.1972 Servicing Fees 2928,~~743~~922.7849 54,~~034~~692.5556 65,~~997~~810.7704 Master Servicing Fees ~~793~~771.1726 ~~134~~125.2613 ~~186~~154.6094 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 ~~232~~223,~~336~~812.8560 8376,~~791~~898.5676 ~~126~~105,~~092~~399.8274 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 2.~~929229~~901884 6.~~241250~~145257 6.~~757129~~802863

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 4.~~354567~~247810 Weighted Average Net Rate 3.~~979567~~872810 Weighted Average Maturity ~~297~~296 Beginning Loan Count ~~363~~346 Loans Paid In Full 1712 Ending Loan Count ~~346~~334 Beginning Scheduled Balance ~~133~~126,~~683~~160,~~471~~316.5254 Ending scheduled Balance ~~126~~121,~~160~~845,~~316~~009.5491 Record Date 0708/31/2003 Principal And Interest Constant ~~535~~488,~~607~~220.6215 Scheduled Principal 5041,~~496~~632.2663 Unscheduled Principal 74,~~472~~273,~~658~~674.7200 Scheduled Interest ~~485~~446,~~111~~587.3652 Servicing Fees 4139,~~776~~425.1009 Master Servicing Fees 1,~~114~~051.0333 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~442~~406,~~221~~111.2310 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 3.~~969567~~862810

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002-2