8-K 1 bsa03002.txt OCTOBER 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): October 27, 2003 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-05 54-2121828 Pooling and Servicing Agreement) (Commission 54-2121829 (State or other File Number) 54-2121830 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On October 27, 2003 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-2 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 Asset-Backed Certificates, Series 2003-2 Trust, relating to the October 27, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 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: 10/29/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-2 Trust, relating to the October 27, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 BSA Series: 2003-2 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 A-1 07384YJN7 SEN 1.~~51000~~52000% ~~182~~172,~~758~~003,~~944~~776.7397 ~~237~~232,~~637~~396.3921 107,~~761~~132,~~887~~208.2823 A-2 07384YJP2 SEN 1.~~56000~~57000% ~~198~~188,~~816~~784,~~774~~925.9717 ~~267~~263,~~077~~459.2085 98,~~902~~304,~~775~~816.0334 A-3 07384YJQ0 SEN 1.~~86000~~87000% 28,579,000.00 4547,~~774~~504.0365 0.00 A-IO 07384YJT4 IO 5.00000% 0.00 215,416.67 0.00 M-1 07384YJU1 MEZ 2.~~31000~~32000% 25,851,000.00 5153,~~421~~310.9551 0.00 M-2 07384YJV9 MEZ 3.~~11000~~12000% 23,265,000.00 6264,~~304~~521.9660 0.00 B 07384YJW7 SUB 4.~~61000~~62000% 20,680,000.00 8284,~~093~~925.8687 0.00 B-IO BSA032BIO IO 0.00000% 0.00 0.00 0.00 R-1 BSA0302R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA0302R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA0302R3 RES 0.00000% 0.00 0.00 0.00 OC BSA0302OC OC 0.00000% 24,~~066~~049,~~149~~080.8632 0.00 0.00 Totals ~~482~~463,~~016~~212,~~869~~782.5646 961,~~726~~535.0636 2015,~~664~~437,~~662~~024.3157

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~171~~164,~~997~~871,~~057~~568.4674 107,~~999~~364,~~524~~604.6744 0.00 A-2 0.00 ~~188~~180,~~913~~480,~~999~~108.9484 108,~~169~~568,~~852~~276.2319 0.00 A-3 0.00 28,579,000.00 4547,~~774~~504.0365 0.00 A-IO 0.00 0.00 215,416.67 0.00 M-1 0.00 25,851,000.00 5153,~~421~~310.9551 0.00 M-2 0.00 23,265,000.00 6264,~~304~~521.9660 0.00 B 0.00 20,680,000.00 8284,~~093~~925.8687 0.00 B-IO 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 OC 0.00 35,~~926~~921,~~725~~824.0747 0.00 0.00 Totals 0.00 ~~463~~449,~~212~~648,~~782~~502.4705 2116,~~626~~398,~~388~~559.3793 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 200,005,000.00 ~~182~~172,~~758~~003,~~944~~776.7397 0.00 107,~~761~~132,~~887~~208.2823 0.00 0.00 A-2 218,628,000.00 ~~198~~188,~~816~~784,~~774~~925.9717 0.00 98,~~902~~304,~~775~~816.0334 0.00 0.00 A-3 28,579,000.00 28,579,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 25,851,000.00 25,851,000.00 0.00 0.00 0.00 0.00 M-2 23,265,000.00 23,265,000.00 0.00 0.00 0.00 0.00 B 20,680,000.00 20,680,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 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 R-3 50.00 0.00 0.00 0.00 0.00 0.00 OC 569.35 24,~~066~~049,~~149~~080.8632 0.00 0.00 0.00 0.00 Totals 517,008,719.35 ~~482~~463,~~016~~212,~~869~~782.5646 0.00 2015,~~664~~437,~~662~~024.3157 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 107,~~761~~132,~~887~~208.2823 ~~171~~164,~~997~~871,~~057~~568.4674 0.~~85996379~~82433724 107,~~761~~132,~~887~~208.2823 A-2 98,~~902~~304,~~775~~816.0334 ~~188~~180,~~913~~480,~~999~~108.9484 0.~~86408877~~82551233 98,~~902~~304,~~775~~816.0334 A-3 0.00 28,579,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 25,851,000.00 1.00000000 0.00 M-2 0.00 23,265,000.00 1.00000000 0.00 B 0.00 20,680,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 OC 0.00 35,~~926~~921,~~725~~824.0747 610,~~896~~401.~~85618688~~02655660 0.00 Totals 2015,~~664~~437,~~662~~024.3157 ~~463~~449,~~212~~648,~~782~~502.4705 0.~~89594772~~86971164 2015,~~664~~437,~~662~~024.3157

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 200,005,000.00 ~~913~~859.~~77187935~~99738492 0.00000000 5335.~~80809120~~66014965 0.00000000 A-2 218,628,000.00 ~~909~~863.~~38386195~~49838616 0.00000000 4537.~~29509043~~98606007 0.00000000 A-3 28,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 25,851,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 23,265,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 20,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 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 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 ~~3628962~~7111759.~~60648107~~58549223 0.00000000 0.00000000 0.00000000 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 A-1 0.00000000 5335.~~80809120~~66014965 ~~859~~824.~~96378821~~33723527 0.~~85996379~~82433724 5335.~~80809120~~66014965 A-2 0.00000000 4537.~~29509043~~98606007 ~~864~~825.~~08877152~~51232614 0.~~86408877~~82551233 4537.~~29509043~~98606007 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 610,~~896~~401,~~856~~026.~~18687977~~55659960 ~~6896~~10401.~~85618688~~02655660 0.00000000 (3) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 200,005,000.00 1.~~51000~~52000% ~~182~~172,~~758~~003,~~944~~776.7397 ~~237~~232,~~637~~396.3921 0.00 0.00 A-2 218,628,000.00 1.~~56000~~57000% ~~198~~188,~~816~~784,~~774~~925.9717 ~~267~~263,~~077~~459.2085 0.00 0.00 A-3 28,579,000.00 1.~~86000~~87000% 28,579,000.00 4547,~~774~~504.0365 0.00 0.00 A-IO 0.00 5.00000% 51,700,000.00 215,416.67 0.00 0.00 M-1 25,851,000.00 2.~~31000~~32000% 25,851,000.00 5153,~~421~~310.9551 0.00 0.00 M-2 23,265,000.00 3.~~11000~~12000% 23,265,000.00 6264,~~304~~521.9660 0.00 0.00 B 20,680,000.00 4.~~61000~~62000% 20,680,000.00 8284,~~093~~925.8687 0.00 0.00 B-IO 0.00 0.00000% ~~482~~463,~~016~~212,~~869~~782.5647 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 OC 569.35 0.00000% 24,~~066~~049,~~149~~080.8632 0.00 0.00 0.00 Totals 517,008,719.35 961,~~726~~535.0636 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~237~~232,~~637~~396.3921 0.00 ~~171~~164,~~997~~871,~~057~~568.4674 A-2 0.00 0.00 ~~267~~263,~~077~~459.2085 0.00 ~~188~~180,~~913~~480,~~999~~108.9484 A-3 0.00 0.00 4547,~~774~~504.0365 0.00 28,579,000.00 A-IO 0.00 0.00 215,416.67 0.00 51,700,000.00 M-1 0.00 0.00 5153,~~421~~310.9551 0.00 25,851,000.00 M-2 0.00 0.00 6264,~~304~~521.9660 0.00 23,265,000.00 B 0.00 0.00 8284,~~093~~925.8687 0.00 20,680,000.00 B-IO 0.00 0.00 0.00 0.00 ~~463~~449,~~212~~648,~~782~~502.4705 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 35,~~926~~921,~~725~~824.0747 Totals 0.00 0.00 961,~~726~~535.0636 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 200,005,000.00 1.~~51000~~52000% ~~913~~859.~~77187935~~99738492 1.~~18815725~~16195200 0.00000000 0.00000000 A-2 218,628,000.00 1.~~56000~~57000% ~~909~~863.~~38386195~~49838616 1.~~22160565~~20505996 0.00000000 0.00000000 A-3 28,579,000.00 1.~~86000~~87000% 1000.00000000 1.~~60166661~~66222226 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666673 0.00000000 0.00000000 M-1 25,851,000.00 2.~~31000~~32000% 1000.00000000 12.~~98916676~~06222235 0.00000000 0.00000000 M-2 23,265,000.00 3.~~11000~~12000% 1000.00000000 2.~~67805545~~77333333 0.00000000 0.00000000 B 20,680,000.00 4.~~61000~~62000% 1000.00000000 34.~~96972244~~10666683 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~932~~895.~~31891720~~94797829 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 0.00000% ~~3628962~~7111759.~~60648107~~58549223 0.00000000 0.00000000 0.00000000 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 A-1 0.00000000 0.00000000 1.~~18815725~~16195200 0.00000000 ~~859~~824.~~96378821~~33723527 A-2 0.00000000 0.00000000 1.~~22160565~~20505996 0.00000000 ~~864~~825.~~08877152~~51232614 A-3 0.00000000 0.00000000 1.~~60166661~~66222226 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.16666673 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 12.~~98916676~~06222235 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~67805545~~77333333 0.00000000 1000.00000000 B 0.00000000 0.00000000 34.~~96972244~~10666683 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 ~~895~~869.~~94797829~~71189397 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~6896856~~10401026.~~18687977~~55659960 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,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 2116,~~902~~558,~~982~~630.3191 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~468~~486,~~549~~495.3693 Realized Loss (Gains, Subsequent Expenses & Recoveries) ~~(122,355~~0.~~25)~~00 Prepayment Penalties 0.00 Total Deposits 2217,~~249~~045,~~176~~126.4284 Withdrawals Reimbursement for Servicer Advances ~~437~~468,~~907~~549.8636 Payment of Service Fee ~~184~~178,~~880~~017.1955 Payment of Interest and Principal 2116,~~626~~398,~~388~~559.3793 Total Withdrawals (Pool Distribution Amount) 2217,~~249~~045,~~176~~126.4284 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~180~~174,~~863~~157.4046 Master Servicing Fee 43,~~016~~860.7909 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~184~~178,~~880~~017.1955

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 4 0 0 4 ~~571~~668,~~383~~691.4951 0.00 0.00 ~~571~~668,~~383~~691.4951 30 Days ~~273~~281 2 02 0 ~~275~~285 2928,~~195~~708,~~549~~020.2053 ~~292~~194,~~317~~232.6383 0409,488.0010 0.00 29,~~487~~311,~~866~~741.8346 60 Days ~~118~~115 1 0 2 0 ~~119~~117 1213,~~859~~939,~~077~~213.4258 ~~62,842.81~~ 0.00 430,331.67 0.00 1214,~~921~~369,~~920~~545.2325 90 Days 6750 1 810 0 7661 85,~~596~~704,~~612~~751.9170 9962,~~569~~842.5881 ~~981~~856,~~712~~050.7949 0.00 96,~~677~~623,~~895~~645.2800 120 Days 3545 02 8 0 4355 56,~~115~~274,~~527~~770.6541 0169,727.0082 ~~927~~752,~~955~~188.0640 0.00 67,~~043~~196,~~482~~686.7163 150 Days 2324 21 37 0 2832 23,~~264~~882,~~641~~716.4043 ~~150~~69,~~900~~596.4006 ~~289~~645,~~534~~388.5892 0.00 24,~~705~~597,~~076~~701.3841 180+ Days 019 01 05 0 025 01,618,998.0095 081,286.0056 0387,890.0041 0.00 02,088,175.0092 Totals ~~516~~534 1011 1934 0 ~~545~~579 5860,~~031~~128,~~408~~471.5860 1,~~177~~246,~~013~~377.9159 23,~~199~~481,~~202~~337.4399 0.00 6164,~~407~~856,~~624~~187.9218 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.~~088652~~090662% 0.000000% 0.000000% 0.~~088652~~090662% 0.~~123119~~148427% 0.000000% 0.000000% 0.~~123119~~148427% 30 Days 6.~~050532~~368994% 0.~~044326~~045331% 0.~~000000~~045331% 0.000000% 6.~~094858~~459655% 6.~~290933~~372223% 0.~~062987~~043113% 0.~~000000~~090893% 0.000000% 6.~~353920~~506229% 60 Days 2.~~615248~~606528% 0.~~022163~~000000% 0.~~000000~~045331% 0.000000% 2.~~637411~~651859% 23.~~770819~~094041% 0.~~013541~~000000% 0.~~000000~~095519% 0.000000% 23.~~784360~~189560% 90 Days 1.~~484929~~133273% 0.~~022163~~022665% 0.~~177305~~226655% 0.000000% 1.~~684397~~382593% 1.~~852362~~266265% 0.~~021455~~013949% 0.~~211535~~190015% 0.000000% 21.~~085352~~470228% 120 Days 01.~~775709~~019946% 0.~~000000~~045331% 0.~~177305~~181324% 0.000000% 01.~~953014~~246600% 1.~~102272~~392790% 0.~~000000~~037674% 0.~~199952~~166961% 0.000000% 1.~~302224~~597424% 150 Days 0.~~509752~~543971% 0.~~044326~~022665% 0.~~066489~~158658% 0.000000% 0.~~620567~~725295% 0.~~487975~~861834% 0.~~032515~~015448% 0.~~062388~~143255% 0.000000% 01.~~582878~~020536% 180+ Days 0.~~000000~~430644% 0.~~000000~~022665% 0.~~000000~~113327% 0.000000% 0.~~000000~~566636% 0.~~000000~~359364% 0.~~000000~~018043% 0.~~000000~~086099% 0.000000% 0.~~000000~~463505% Totals 1112.~~436170~~103354% 0.~~221631~~249320% 0.~~421099~~770626% 0.000000% 1213.~~078901~~123300% 1213.~~504361~~346515% 0.~~253618~~276654% 0.~~473875~~772741% 0.000000% 1314.~~231853~~395911%

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 12 0 0 12 26163,~~402~~832.0187 0.00 0.00 26163,~~402~~832.0187 30 Days 23 21 0 0 2524 21,~~322~~787,~~323~~414.2150 ~~292~~154,~~317~~419.6315 0.00 0.00 21,~~614~~941,~~640~~833.8465 60 Days 811 10 0 0 911 ~~954~~1,~~476~~233,354.8435 ~~62,842~~0.8100 0.00 0.00 1,~~017~~233,~~319~~354.6535 90 Days 35 01 2 0 58 ~~406~~693,~~762~~476.7891 062,842.0081 ~~166~~140,~~882~~278.2459 0.00 ~~573~~896,~~645~~598.0231 120 Days 62 0 32 0 94 ~~400~~267,~~250~~253.6973 0.00 ~~265~~166,~~877~~882.8324 0.00 ~~666~~434,~~128~~135.5297 150 Days 25 0 13 0 38 ~~451~~313,~~159~~468.9057 0.00 ~~110~~240,~~121~~083.3237 0.00 ~~561~~553,~~281~~551.2294 180 Days 02 0 01 0 03 0451,159.0090 0.00 0110,121.0032 0.00 0561,281.0022 Totals 4248 4 68 0 5260 4,~~534~~746,~~973~~127.4296 381,~~562~~094.4583 ~~542~~657,~~881~~365.3952 0.00 5,~~459~~784,~~417~~588.2631 0-29 Days 0.~~235294~~481928% 0.000000% 0.000000% 0.~~235294~~481928% 0.~~042823~~273919% 0.000000% 0.000000% 0.~~042823~~273919% 30 Days 5.~~411765~~542169% 0.~~470588~~240964% 0.000000% 0.000000% 5.~~882353~~783133% 32.~~766720~~988450% 0.~~474128~~258180% 0.000000% 0.000000% 43.~~240848~~246630% 60 Days 12.~~882353~~650602% 0.~~235294~~000000% 0.000000% 0.000000% 2.~~117647~~650602% 12.~~548125~~062095% 0.~~101929~~000000% 0.000000% 0.000000% 12.~~650054~~062095% 90 Days 01.~~705882~~204819% 0.~~000000~~240964% 0.~~470588~~481928% 0.000000% 1.~~176471~~927711% 01.~~659754~~159452% 0.~~000000~~105069% 0.~~270677~~234537% 0.000000% 01.~~930430~~499059% 120 Days 10.~~411765~~481928% 0.000000% 0.~~705882~~481928% 0.000000% 20.~~117647~~963855% 0.~~649191~~446832% 0.000000% 0.~~431244~~279017% 0.000000% 10.~~080435~~725849% 150 Days 01.~~470588~~204819% 0.000000% 0.~~235294~~722892% 0.000000% 01.~~705882~~927711% 0.~~731764~~524101% 0.000000% 0.~~178613~~401405% 0.000000% 0.~~910377~~925506% 180 Days 0.~~000000~~481928% 0.000000% 0.~~000000~~240964% 0.000000% 0.~~000000~~722892% 0.~~000000~~754312% 0.000000% 0.~~000000~~184116% 0.000000% 0.~~000000~~938429% Totals 911.~~882353~~566265% 0.~~941176~~963855% 1.~~411765~~927711% 0.000000% 1214.~~235294~~457831% 7.~~355554~~935243% 0.~~618880~~637168% 01.~~880533~~099076% 0.000000% 89.~~854967~~671486% 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 1 0 0 1 313,~~475~~316.4409 0.00 0.00 313,~~475~~316.4409 30 Days 8199 0 02 0 81101 14,~~038~~834,~~944~~948.0170 0.00 0409,488.0010 0.00 1415,~~038~~244,~~944~~436.0180 60 Days 5140 0 02 0 5142 7,~~414~~787,~~290~~544.9804 0.00 0430,331.0067 0.00 78,~~414~~217,~~290~~875.9871 90 Days 1922 10 35 0 2327 43,~~891~~223,~~758~~662.3796 ~~99,569~~0.5800 ~~543~~386,~~840~~238.3477 0.00 53,~~535~~609,~~168~~901.2973 120 Days 1615 01 32 0 1918 3,~~666~~992,~~092~~554.9960 099,569.0058 ~~348~~266,~~681~~354.1014 0.00 4,~~014~~358,~~774~~478.0932 150 Days 911 1 0 3 0 1014 13,~~140~~075,~~167~~770.6982 ~~81,286.56~~ 0.00 194,557.73 0.00 13,~~221~~270,~~454~~328.2555 180 Days 05 01 02 0 08 0494,525.0024 081,286.0056 098,355.0083 0.00 0674,167.0063 Totals ~~176~~192 3 616 0 ~~185~~211 3133,~~151~~409,~~254~~006.0436 494,~~331~~172.5823 ~~892~~1,~~521~~785,326.4424 0.00 3235,~~538~~688,~~107~~504.0683 0-29 Days 0.~~094877~~097656% 0.000000% 0.000000% 0.~~094877~~097656% 0.~~217860~~224657% 0.000000% 0.000000% 0.~~217860~~224657% 30 Days 79.~~685009~~667969% 0.000000% 0.~~000000~~195313% 0.000000% 79.~~685009~~863281% 910.~~756833~~637106% 0.000000% 0.~~000000~~293615% 0.000000% 910.~~756833~~930721% 60 Days 43.~~838710~~906250% 0.000000% 0.~~000000~~195313% 0.000000% 4.~~838710~~101563% 5.~~152809~~583904% 0.000000% 0.~~000000~~308561% 0.000000% 5.~~152809~~892465% 90 Days 12.~~802657~~148438% 0.~~094877~~000000% 0.~~284630~~488281% 0.000000% 2.~~182163~~636719% 32.~~399691~~311464% 0.~~069199~~000000% 0.~~377960~~276945% 0.000000% 32.~~846850~~588408% 120 Days 1.~~518027~~464844% 0.~~000000~~097656% 0.~~284630~~195313% 0.000000% 1.~~802657~~757813% 2.~~547874~~862782% 0.~~000000~~071394% 0.~~242328~~190984% 0.000000% 23.~~790201~~125160% 150 Days 01.~~853890~~074219% 0.~~094877~~000000% 0.~~000000~~292969% 0.000000% 01.~~948767~~367188% 02.~~792398~~205421% 0.~~056493~~000000% 0.~~000000~~139504% 0.000000% 02.~~848890~~344924% 180 Days 0.~~000000~~488281% 0.~~000000~~097656% 0.~~000000~~195313% 0.000000% 0.~~000000~~781250% 0.~~000000~~354590% 0.~~000000~~058285% 0.~~000000~~070524% 0.000000% 0.~~000000~~483399% Totals 1618.~~698292~~750000% 0.~~284630~~292969% 01.~~569260~~562500% 0.000000% 1720.~~552182~~605469% 2123.~~649604~~955266% 0.~~343552~~354336% 01.~~620288~~280133% 0.000000% 2225.~~613444~~589735% 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 21 0 0 21 ~~231~~191,~~506~~542.0455 0.00 0.00 ~~231~~191,~~506~~542.0455 30 Days ~~154~~142 01 0 0 ~~154~~143 1211,~~169~~227,~~060~~159.1597 039,813.0068 0.00 0.00 1211,~~169~~266,~~060~~973.1565 60 Days 5055 0 0 0 5055 34,~~999~~477,~~594~~445.6779 0.00 0.00 0.00 34,~~999~~477,~~594~~445.6779 90 Days 4019 0 3 0 4322 31,~~064~~547,~~863~~509.6099 0.00 ~~270~~329,~~990~~533.2113 0.00 31,~~335~~877,~~853~~043.8112 120 Days 1025 01 24 0 1230 ~~934~~1,~~240~~881,361.6679 070,158.0024 ~~313~~318,~~396~~952.1302 0.00 12,~~247~~270,~~636~~472.7905 150 Days 115 1 21 0 147 ~~623~~378,~~620~~533.1173 69,~~613~~596.8406 ~~179~~210,~~413~~747.2682 0.00 ~~872~~658,~~647~~877.2161 180 Days 011 0 02 0 013 0623,620.0011 0.00 0179,413.0026 0.00 0803,033.0037 Totals ~~265~~257 34 710 0 ~~275~~271 20,~~791~~135,~~379~~631.1938 ~~301~~371,~~119~~110.8853 ~~763~~1,~~799~~038,646.6023 0.00 21,~~856~~545,~~298~~388.6714 0-29 Days 0.~~073638~~037622% 0.000000% 0.000000% 0.~~073638~~037622% 0.~~095307~~081258% 0.000000% 0.000000% 0.~~095307~~081258% 30 Days 5.~~670103~~342363% 0.~~000000~~037622% 0.000000% 0.000000% 5.~~670103~~379985% 54.~~009794~~762882% 0.~~000000~~016890% 0.000000% 0.000000% 54.~~009794~~779772% 60 Days 12.~~840943~~069225% 0.000000% 0.000000% 0.000000% 12.~~840943~~069225% 1.~~646565~~899460% 0.000000% 0.000000% 0.000000% 1.~~646565~~899460% 90 Days 10.~~472754~~714823% 0.000000% 0.~~110457~~112867% 0.000000% 10.~~583211~~827690% 10.~~261752~~656498% 0.000000% 0.~~111562~~139797% 0.000000% 10.~~373314~~796295% 120 Days 0.~~368189~~940557% 0.~~000000~~037622% 0.~~073638~~150489% 0.000000% 01.~~441826~~128668% 0.~~384611~~798127% 0.~~000000~~029763% 0.~~129020~~135309% 0.000000% 0.~~513631~~963199% 150 Days 0.~~405007~~188111% 0.~~036819~~037622% 0.~~073638~~037622% 0.000000% 0.~~515464~~263356% 0.~~256734~~160585% 0.~~028659~~029525% 0.~~073861~~089405% 0.000000% 0.~~359254~~279515% 180 Days 0.~~000000~~413845% 0.000000% 0.~~000000~~075245% 0.000000% 0.~~000000~~489090% 0.~~000000~~264557% 0.000000% 0.~~000000~~076112% 0.000000% 0.~~000000~~340670% Totals 9.~~756996~~668924% 0.~~110457~~150489% 0.~~257732~~376223% 0.000000% 10.~~125184~~195636% 8.~~559455~~542110% 0.~~123966~~157436% 0.~~314443~~440623% 0.000000% 89.~~997864~~140169% 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 1517 0 0 0 1517 ~~665~~858,~~221~~497.8336 0.00 0.00 0.00 ~~665~~858,~~221~~497.8336 60 Days 9 0 0 0 9 ~~490~~440,~~714~~869.9340 0.00 0.00 0.00 ~~490~~440,~~714~~869.9340 90 Days 54 0 0 0 54 ~~233~~240,~~228~~101.1684 0.00 0.00 0.00 ~~233~~240,~~228~~101.1684 120 Days 3 0 0 0 3 ~~114~~133,~~943~~600.3129 0.00 0.00 0.00 ~~114~~133,~~943~~600.3129 150 Days 13 0 0 0 13 49114,~~693~~943.7031 0.00 0.00 0.00 49114,~~693~~943.7031 180 Days 01 0 0 0 01 049,693.0070 0.00 0.00 0.00 049,693.0070 Totals 3337 0 0 0 3337 1,~~553~~837,~~801~~705.9390 0.00 0.00 0.00 1,~~553~~837,~~801~~705.9390 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 45.~~731861~~396825% 0.000000% 0.000000% 0.000000% 45.~~731861~~396825% 45.~~252822~~531113% 0.000000% 0.000000% 0.000000% 45.~~252822~~531113% 60 Days 2.~~839117~~857143% 0.000000% 0.000000% 0.000000% 2.~~839117~~857143% 32.~~137184~~840426% 0.000000% 0.000000% 0.000000% 32.~~137184~~840426% 90 Days 1.~~577287~~269841% 0.000000% 0.000000% 0.000000% 1.~~577287~~269841% 1.~~491048~~546924% 0.000000% 0.000000% 0.000000% 1.~~491048~~546924% 120 Days 0.~~946372~~952381% 0.000000% 0.000000% 0.000000% 0.~~946372~~952381% 0.~~734843~~860758% 0.000000% 0.000000% 0.000000% 0.~~734843~~860758% 150 Days 0.~~315457~~952381% 0.000000% 0.000000% 0.000000% 0.~~315457~~952381% 0.~~317696~~740555% 0.000000% 0.000000% 0.000000% 0.~~317696~~740555% 180 Days 0.~~000000~~317460% 0.000000% 0.000000% 0.000000% 0.~~000000~~317460% 0.~~000000~~320166% 0.000000% 0.000000% 0.000000% 0.~~000000~~320166% Totals 1011.~~410095~~746032% 0.000000% 0.000000% 0.000000% 1011.~~410095~~746032% 911.~~933593~~839942% 0.000000% 0.000000% 0.000000% 911.~~933593~~839942%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~468~~486,~~549~~495.3693

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~791105~~803663% Weighted Average Net Coupon 7.~~340839~~352490% Weighted Average Pass-Through Rate 7.~~330839~~342490% Weighted Average Maturity(Stepdown Calculation ) ~~301~~300 Beginning Scheduled Collateral Loan Count 4,~~633~~512 Number Of Loans Paid In Full ~~121~~100 Ending Scheduled Collateral Loan Count 4,~~512~~412 Beginning Scheduled Collateral Balance ~~482~~463,~~016~~212,~~869~~782.5647 Ending Scheduled Collateral Balance ~~463~~449,~~212~~648,~~782~~502.4705 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~464~~450,~~089~~518,~~366~~131.2968 Monthly P &I Constant 3,~~827~~683,~~788~~839.3203 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~122,355~~0.2500 Cumulative Realized Loss ~~122,355~~0.2500 Ending Scheduled Balance for Premium Loans ~~463~~449,~~212~~648,~~782~~502.4705 Scheduled Principal ~~698~~671,~~251~~541.5698 Unscheduled Principal 1812,~~105~~892,~~835~~738.5344 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 1,~~982~~872,~~930~~744.4715 Overcollateralized reduction Amount 0.00 Specified O/C Amount 9,306,154.25 Overcollateralized Amount 35,~~926~~921,~~725~~824.0747 Overcollateralized Deficiency Amount 53,~~379~~384,~~429~~329.1778 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1,~~982~~872,~~930~~744.4715 Excess Cash Amount 1,~~982~~872,~~930~~744.4715

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 6.~~966312~~962798 7.~~203347~~191840 8.~~270109~~291247 Weighted Average Net Rate 6.~~573861~~570909 6.~~748122~~735554 7.~~810436~~831194 Weighted Average Maturity ~~316~~315 ~~320~~319 ~~288~~287 Beginning Loan Count ~~449~~425 1,~~078~~054 2,~~786~~716 Loans Paid In Full 2410 2430 7058 Ending Loan Count ~~425~~415 1,~~054~~024 2,~~716~~658 Beginning Scheduled Balance 6761,~~246~~561,~~574~~607.0864 ~~147~~143,~~605~~561,~~794~~557.2176 ~~251~~242,~~225~~480,~~665~~362.2303 Ending scheduled Balance 6159,~~561~~714,~~607~~001.6432 ~~143~~139,~~561~~142,~~557~~200.7639 ~~242~~235,~~480~~304,~~362~~990.0310 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~482~~443,~~018~~639.3139 1,~~078~~042,~~341~~187.0858 2,~~120~~053,~~611~~711.3547 Scheduled Principal 9186,~~634~~438.4754 ~~192~~181,~~294~~794.5845 ~~389~~378,~~224~~324.8923 Unscheduled Principal 51,~~593~~761,~~331~~167.9778 34,~~851~~237,~~941~~562.8792 86,~~356~~797,~~078~~047.3170 Scheduled Interest ~~390~~357,~~383~~200.8485 ~~886~~860,~~046~~393.5013 1,~~731~~675,~~386~~387.4624 Servicing Fees 2120,~~992~~104.4841 5554,~~994~~587.8763 9692,~~234~~961.8757 Master Servicing Fees ~~560~~513.3801 1,~~230~~196.0335 2,~~093~~020.5564 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 ~~367~~336,~~830~~583.9843 ~~828~~804,~~821~~609.6015 1,~~633~~580,~~058~~405.0403 Realized Loss Amount 0.00 0.00 ~~122,355~~0.2500 Cumulative Realized Loss 0.00 0.00 ~~122,355~~0.2500 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 6.~~563861~~560909 6.~~738122~~725554 7.~~800436~~821194

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 9.~~164029~~172699 7.~~791105~~803663 Weighted Average Net Rate 8.~~664029~~672699 7.~~340839~~352490 Weighted Average Maturity ~~263~~262 ~~301~~300 Beginning Loan Count ~~320~~317 4,~~633~~512 Loans Paid In Full 32 ~~121~~100 Ending Loan Count ~~317~~315 4,~~512~~412 Beginning Scheduled Balance 15,~~938~~609,~~836~~255.04 ~~482~~463,~~016~~212,~~869~~782.5647 Ending scheduled Balance 15,~~609~~487,~~255~~310.0424 ~~463~~449,~~212~~648,~~782~~502.4705 Record Date 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~146~~144,~~817~~300.5859 3,~~827~~683,~~788~~839.3203 Scheduled Principal 2524,~~097~~984.6276 ~~698~~671,~~251~~541.5698 Unscheduled Principal ~~304~~96,~~483~~960.3804 1812,~~105~~892,~~835~~738.5344 Scheduled Interest ~~121~~119,~~719~~315.9683 3,~~129~~012,~~536~~297.7605 Servicing Fees 6,~~641~~503.1885 ~~180~~174,~~863~~157.4046 Master Servicing Fees ~~132~~130.8309 43,~~016~~860.7909 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest ~~114~~112,~~945~~681.9589 2,~~944~~834,~~656~~279.5750 Realized Loss Amount 0.00 ~~122,355~~0.2500 Cumulative Realized Loss 0.00 ~~122,355~~0.2500 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 8.~~654029~~662699 7.~~330839~~342490

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2003-2