8-K 1 bst01007.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): November 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 90-0042382 Pooling and Servicing Agreement) (Commission 90-0031687 (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 November 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-7 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 2001-7 Trust, relating to the November 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 2001-7 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/25/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the November 25, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/2725/03 BST Series: 2001-7 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 07384MGL0 SEN 4.~~71130~~59108% 5,~~747~~481,~~452~~322.8380 2220,~~528~~970.2197 ~~266~~53,~~130~~686.0223 II-A 07384MGP1 SEN 2.~~72381~~70272% 5049,~~961~~946,~~597~~358.7208 ~~115~~112,~~486~~492.3134 1491,~~015,239~~592.6470 III-A 07384MGU0 SEN 4.~~59960~~52161% 3130,~~531~~077,~~854~~335.3675 ~~120~~113,~~664~~331.6163 1621,~~454,518~~158.6128 IV-A 07384MGQ9 SEN 6.~~86813~~86832% 43,~~215~~758,~~260~~837.9413 2421,~~086~~514.4808 ~~456~~253,~~423~~247.8067 B-1 07384MGR7 SUB 4.~~38528~~31508% 3,~~971~~884,~~743~~058.3241 1413,~~490~~966.6770 8742,~~684~~760.9139 B-2 07384MGS5 SUB 4.~~38528~~31508% 2,~~336~~284,~~441~~859.4439 8,~~524~~216.3713 5125,~~582~~154.0548 B-3 07384MGT3 SUB 4.~~38528~~31508% 1,~~635~~599,~~461~~354.2183 5,~~966~~751.8813 3617,~~106~~607.3862 B-4 07384MGV8 SUB 4.~~38528~~31508% ~~817~~799,~~770~~716.4437 2,~~983~~875.5970 188,~~054~~804.0724 B-5 07384MGW6 SUB 4.~~38528~~31508% ~~700~~685,~~900~~426.5765 2,~~557~~464.1973 157,~~473~~546.9100 B-6 07384MGX4 SUB 4.~~38528~~31508% 1,~~051~~028,~~583~~367.8887 3,~~836~~697.6491 2311,~~216~~321.0151 R-I 07384MGM8 RES 6.~~36275~~36278% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36275~~36278% 0.00 0.00 0.00 Totals ~~102~~99,~~970~~545,~~066~~637.7128 ~~321~~305,~~124~~281.9532 31,~~424~~532,~~429~~879.4012

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 5,~~481~~427,~~322~~636.8057 ~~288~~74,~~658~~657.2320 0.00 II-A 0.00 49,~~946~~454,~~358~~765.0838 1604,~~130,725~~085.9504 0.00 III-A 0.00 3029,~~077~~456,~~335~~177.7547 1734,~~575,183~~489.2291 0.00 IV-A 0.00 3,~~758~~505,~~837~~589.1346 ~~480~~274,~~510~~761.2875 0.00 B-1 0.00 3,~~884~~841,~~058~~298.4102 ~~102~~56,~~175~~727.5809 0.00 B-2 0.00 2,~~284~~259,~~859~~704.3991 6033,~~106~~370.4261 0.00 B-3 0.00 1,~~599~~581,~~354~~747.8321 4223,~~073~~358.2675 0.00 B-4 0.00 ~~799~~790,~~716~~912.3713 2111,~~037~~679.6694 0.00 B-5 0.00 ~~685~~677,~~426~~880.65 1810,~~031~~010.1073 0.00 B-6 0.00 1,~~028~~017,~~367~~046.8736 2715,~~052~~019.6542 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 9998,~~545~~012,~~637~~758.2816 31,~~745~~838,~~554~~160.3544 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 16,941,900.00 5,~~747~~481,~~452~~322.8380 2224,~~738~~191.9724 ~~243~~29,~~391~~494.0599 0.00 0.00 II-A 59,270,500.00 5049,~~961~~946,~~597~~358.7208 0.00 1491,~~015,239~~592.6470 0.00 0.00 III-A 162,837,100.00 3130,~~531~~077,~~854~~335.3675 6159,~~970~~270.6195 1561,~~392,548~~887.0033 0.00 0.00 IV-A 41,028,800.00 43,~~215~~758,~~260~~837.9413 87,~~241~~691.5456 ~~448~~245,~~182~~556.2611 0.00 0.00 B-1 4,985,500.00 3,~~971~~884,~~743~~058.3241 6,~~282~~276.1353 8136,~~402~~483.7886 0.00 0.00 B-2 2,932,800.00 2,~~336~~284,~~441~~859.4439 3,~~695~~692.5627 4721,~~886~~462.4921 0.00 0.00 B-3 2,052,900.00 1,~~635~~599,~~461~~354.2183 2,~~586~~584.8251 3315,~~519~~023.5611 0.00 0.00 B-4 1,026,500.00 ~~817~~799,~~770~~716.4437 1,~~293~~292.4732 167,~~760~~511.6092 0.00 0.00 B-5 879,800.00 ~~700~~685,~~900~~426.5765 1,~~108~~107.6263 146,~~365~~438.2937 0.00 0.00 B-6 1,319,993.00 1,~~051~~028,~~583~~367.8887 1,~~663~~661.3081 219,~~552~~659.7270 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 Totals 293,275,893.00 ~~102~~99,~~970~~545,~~066~~637.7128 ~~109~~107,~~581~~768.0282 31,~~314~~425,~~848~~110.3930 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 ~~266~~53,~~130~~686.0223 5,~~481~~427,~~322~~636.8057 0.~~32353649~~32036764 ~~266~~53,~~130~~686.0223 II-A 1491,~~015,239~~592.6470 49,~~946~~454,~~358~~765.0838 0.~~84268495~~83439089 1491,~~015,239~~592.6470 III-A 1621,~~454,518~~158.6128 3029,~~077~~456,~~335~~177.7547 0.~~18470813~~18089353 1621,~~454,518~~158.6128 IV-A ~~456~~253,~~423~~247.8067 3,~~758~~505,~~837~~589.1346 0.~~09161460~~08544216 ~~456~~253,~~423~~247.8067 B-1 8742,~~684~~760.9139 3,~~884~~841,~~058~~298.4102 0.~~77907099~~77049404 8742,~~684~~760.9139 B-2 5125,~~582~~154.0548 2,~~284~~259,~~859~~704.3991 0.~~77907099~~77049404 5125,~~582~~154.0548 B-3 3617,~~106~~607.3862 1,~~599~~581,~~354~~747.8321 0.~~77907099~~77049404 3617,~~106~~607.3862 B-4 188,~~054~~804.0724 ~~799~~790,~~716~~912.3713 0.~~77907099~~77049404 188,~~054~~804.0724 B-5 157,~~473~~546.9100 ~~685~~677,~~426~~880.65 0.~~77907098~~77049403 157,~~473~~546.9100 B-6 2311,~~216~~321.0151 1,~~028~~017,~~367~~046.8736 0.~~77907070~~77049375 2311,~~216~~321.0151 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 31,~~424~~532,~~429~~879.4012 9998,~~545~~012,~~637~~758.2816 0.~~33942659~~33419985 31,~~424~~532,~~429~~879.4012

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~339~~323.~~24487985~~53648646 1.~~34217355~~42789416 141.~~36621926~~74094936 0.00000000 II-A 59,270,500.00 ~~859~~842.~~81386558~~68494580 0.00000000 178.~~12891978~~29405353 0.00000000 III-A 162,837,100.00 ~~193~~184.~~64048095~~70812702 0.~~38056813~~36398923 83.~~55178580~~45061003 0.00000000 IV-A 41,028,800.00 ~~102~~91.~~73907450~~61460072 0.~~20087207~~18746734 105.~~92360147~~98496934 0.00000000 B-1 4,985,500.00 ~~796~~779.~~65897503~~07098786 1.~~26008023~~25895698 167.~~32790693~~31799418 0.00000000 B-2 2,932,800.00 ~~796~~779.~~65897436~~07098677 1.~~26007911~~25895731 167.~~32790848~~31799304 0.00000000 B-3 2,052,900.00 ~~796~~779.~~65897511~~07098738 1.~~26008086~~25895562 167.~~32790686~~31799406 0.00000000 B-4 1,026,500.00 ~~796~~779.~~65897711~~07098880 1.~~26007793~~25895762 167.~~32791038~~31799318 0.00000000 B-5 879,800.00 ~~796~~779.~~65897931~~07098204 1.~~26008184~~25895658 167.~~32790407~~31799273 0.00000000 B-6 1,319,993.00 ~~796~~779.~~65867925~~07069962 1.~~26008244~~25895365 167.~~32790477~~31799335 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 2) All Senior Classes 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 153.~~70839280~~16884352 ~~323~~320.~~53648646~~36764294 0.~~32353649~~32036764 153.~~70839280~~16884352 II-A 0.00000000 178.~~12891978~~29405353 ~~842~~834.~~68494580~~39089227 0.~~84268495~~83439089 178.~~12891978~~29405353 III-A 0.00000000 83.~~93235393~~81459925 ~~184~~180.~~70812702~~89352776 0.~~18470813~~18089353 83.~~93235393~~81459925 IV-A 0.00000000 116.~~12447354~~17243668 9185.~~61460072~~44216404 0.~~09161460~~08544216 116.~~12447354~~17243668 B-1 0.00000000 178.~~58798716~~57695116 ~~779~~770.~~07098786~~49403671 0.~~77907099~~77049404 178.~~58798716~~57695116 B-2 0.00000000 178.~~58798759~~57695035 ~~779~~770.~~07098677~~49403642 0.~~77907099~~77049404 178.~~58798759~~57695035 B-3 0.00000000 178.~~58798772~~57694968 ~~779~~770.~~07098738~~49403770 0.~~77907099~~77049404 178.~~58798772~~57694968 B-4 0.00000000 178.~~58798831~~57695080 ~~779~~770.~~07098880~~49403799 0.~~77907099~~77049404 178.~~58798831~~57695080 B-5 0.00000000 178.~~58798591~~57694931 ~~779~~770.~~07098204~~49403273 0.~~77907098~~77049403 178.~~58798591~~57694931 B-6 0.00000000 178.~~58797963~~57694700 ~~779~~770.~~07069962~~49375262 0.~~77907070~~77049375 178.~~58797963~~57694700 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, 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 I-A 16,941,900.00 4.~~71130~~59108% 5,~~747~~481,~~452~~322.8380 2220,~~564~~970.9997 0.00 0.00 II-A 59,270,500.00 2.~~72381~~70272% 5049,~~961~~946,~~597~~358.7208 ~~115~~112,~~674~~492.8335 0.00 0.00 III-A 162,837,100.00 4.~~59960~~52161% 3130,~~531~~077,~~854~~335.3675 ~~120~~113,~~861~~331.5964 0.00 0.00 IV-A 41,028,800.00 6.~~86813~~86832% 43,~~215~~758,~~260~~837.9413 2421,~~125~~514.8008 0.00 0.00 B-1 4,985,500.00 4.~~38528~~31508% 3,~~971~~884,~~743~~058.3241 1413,~~514~~966.3270 0.00 0.00 B-2 2,932,800.00 4.~~38528~~31508% 2,~~336~~284,~~441~~859.4439 8,~~538~~216.2813 0.00 0.00 B-3 2,052,900.00 4.~~38528~~31508% 1,~~635~~599,~~461~~354.2183 5,~~976~~751.6213 0.00 0.00 B-4 1,026,500.00 4.~~38528~~31508% ~~817~~799,~~770~~716.4437 2,~~988~~875.4670 0.00 0.00 B-5 879,800.00 4.~~38528~~31508% ~~700~~685,~~900~~426.5765 2,~~561~~464.3773 0.00 0.00 B-6 1,319,993.00 4.~~38528~~31508% 1,~~051~~028,~~583~~367.8887 3,~~842~~697.9091 0.00 0.00 R-I 50.00 6.~~36275~~36278% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36275~~36278% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~321~~305,~~649~~281.1634 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 360.7700 0.00 2220,~~528~~970.2197 0.00 5,~~481~~427,~~322~~636.8057 II-A ~~188~~0.5200 0.00 ~~115~~112,~~486~~492.3134 0.00 49,~~946~~454,~~358~~765.0838 III-A ~~196~~0.9700 0.00 ~~120~~113,~~664~~331.6163 0.00 3029,~~077~~456,~~335~~177.7547 IV-A 390.3200 0.00 2421,~~086~~514.4808 0.00 3,~~758~~505,~~837~~589.1346 B-1 230.6500 0.00 1413,~~490~~966.6770 0.00 3,~~884~~841,~~058~~298.4102 B-2 130.9200 0.00 8,~~524~~216.3713 0.00 2,~~284~~259,~~859~~704.3991 B-3 90.7400 0.00 5,~~966~~751.8813 0.00 1,~~599~~581,~~354~~747.8321 B-4 40.8700 0.00 2,~~983~~875.5970 0.00 ~~799~~790,~~716~~912.3713 B-5 40.1700 0.00 2,~~557~~464.1973 0.00 ~~685~~677,~~426~~880.65 B-6 60.2600 0.00 3,~~836~~697.6491 0.00 1,~~028~~017,~~367~~046.8736 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals ~~524~~0.1900 0.00 ~~321~~305,~~124~~281.9532 0.00 (4) Amount Does Not Include Excess Special Hazard, 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 I-A 16,941,900.00 4.~~71130~~59108% ~~339~~323.~~24487985~~53648646 1.~~33190433~~23781689 0.00000000 0.00000000 II-A 59,270,500.00 2.~~72381~~70272% ~~859~~842.~~81386558~~68494580 1.~~95164255~~89794839 0.00000000 0.00000000 III-A 162,837,100.00 4.~~59960~~52161% ~~193~~184.~~64048095~~70812702 0.~~74222392~~69598169 0.00000000 0.00000000 IV-A 41,028,800.00 6.~~86813~~86832% ~~102~~91.~~73907450~~61460072 0.~~58802110~~52436532 0.00000000 0.00000000 B-1 4,985,500.00 4.~~38528~~31508% ~~796~~779.~~65897503~~07098786 2.~~91130679~~80146425 0.00000000 0.00000000 B-2 2,932,800.00 4.~~38528~~31508% ~~796~~779.~~65897436~~07098677 2.~~91130660~~80146277 0.00000000 0.00000000 B-3 2,052,900.00 4.~~38528~~31508% ~~796~~779.~~65897511~~07098738 2.~~91130596~~80146622 0.00000000 0.00000000 B-4 1,026,500.00 4.~~38528~~31508% ~~796~~779.~~65897711~~07098880 2.~~91131028~~80146128 0.00000000 0.00000000 B-5 879,800.00 4.~~38528~~31508% ~~796~~779.~~65897931~~07098204 2.~~91130939~~80146624 0.00000000 0.00000000 B-6 1,319,993.00 4.~~38528~~31508% ~~796~~779.~~65867925~~07069962 2.~~91130332~~80146183 0.00000000 0.00000000 R-I 50.00 6.~~36275~~36278% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36275~~36278% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes 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.~~00217036~~00000000 0.00000000 1.~~32973338~~23781689 0.00000000 ~~323~~320.~~53648646~~36764294 II-A 0.~~00318067~~00000000 0.00000000 1.~~94846188~~89794822 0.00000000 ~~842~~834.~~68494580~~39089227 III-A 0.~~00120961~~00000000 0.00000000 0.~~74101424~~69598163 0.00000000 ~~184~~180.~~70812702~~89352776 IV-A 0.~~00095835~~00000000 0.00000000 0.~~58706275~~52436532 0.00000000 9185.~~61460072~~44216404 B-1 0.~~00474376~~00000000 0.00000000 2.~~90656303~~80146425 0.00000000 ~~779~~770.~~07098786~~49403671 B-2 0.~~00474632~~00000000 0.00000000 2.~~90656369~~80146277 0.00000000 ~~779~~770.~~07098677~~49403642 B-3 0.~~00474451~~00000000 0.00000000 2.~~90656145~~80146622 0.00000000 ~~779~~770.~~07098738~~49403770 B-4 0.~~00474428~~00000000 0.00000000 2.~~90656600~~80146128 0.00000000 ~~779~~770.~~07098880~~49403799 B-5 0.~~00473971~~00000000 0.00000000 2.~~90655831~~80146624 0.00000000 ~~779~~770.~~07098204~~49403273 B-6 0.~~00474245~~00000000 0.00000000 2.~~90656087~~80146183 0.00000000 ~~779~~770.~~07069962~~49375262 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, 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 31,~~782~~873,~~652~~342.8901 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 95,~~704~~876.4604 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 31,~~792~~879,~~357~~218.3505 Withdrawals Reimbursement for Servicer Advances 149,~~353~~704.9946 Payment of Service Fee 3231,~~449~~353.0115 Payment of Interest and Principal 31,~~745~~838,~~554~~160.3544 Total Withdrawals (Pool Distribution Amount) 31,~~792~~879,~~357~~218.3505 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~524~~0.1900 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall ~~524~~0.1900

SERVICING FEES Gross Servicing Fee 3231,~~449~~353.0115 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3231,~~449~~353.0115

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 1 466,~~910~~177.2905 0.00 0.00 466,~~910~~177.2905 30 Days 21 0 0 0 21 ~~827~~269,~~784~~976.8701 0.00 0.00 0.00 ~~827~~269,~~784~~976.8701 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~106,160~~0.4100 0.00 0.00 0.00 ~~106,160~~0.4100 120 Days 01 0 0 0 01 0106,160.0041 0.00 0.00 0.00 0106,160.0041 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 1 0 10 0 21 488,261.79 0.00 ~~299,027~~0.0600 0.00 ~~787~~488,~~288~~261.8579 Totals 43 1 10 0 64 1864,~~422,207~~398.0721 466,~~910~~177.2905 ~~299,027~~0.0600 0.00 21,~~188~~330,~~144~~575.4226 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.~~393701~~403226% 0.000000% 0.000000% 0.~~393701~~403226% 0.~~468553~~475216% 0.000000% 0.000000% 0.~~468553~~475216% 30 Days 0.~~787402~~403226% 0.000000% 0.000000% 0.000000% 0.~~787402~~403226% 0.~~830697~~275211% 0.000000% 0.000000% 0.000000% 0.~~830697~~275211% 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.~~393701~~000000% 0.000000% 0.000000% 0.000000% 0.~~393701~~000000% 0.~~106534~~000000% 0.000000% 0.000000% 0.000000% 0.~~106534~~000000% 120 Days 0.~~000000~~403226% 0.000000% 0.000000% 0.000000% 0.~~000000~~403226% 0.~~000000~~108219% 0.000000% 0.000000% 0.000000% 0.~~000000~~108219% 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.~~393701~~403226% 0.000000% 0.~~393701~~000000% 0.000000% 0.~~787402~~403226% 0.~~489980~~497729% 0.000000% 0.~~300079~~000000% 0.000000% 0.~~790059~~497729% Totals 1.~~574803~~209677% 0.~~393701~~403226% 0.~~393701~~000000% 0.000000% 21.~~362205~~612903% 10.~~427211~~881159% 0.~~468553~~475216% 0.~~300079~~000000% 0.000000% 21.~~195843~~356375%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 0269,976.0001 0.00 0.00 0.00 0269,976.0001 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 0269,976.0001 0.00 0.00 0.00 0269,976.0001 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~000000~~564103% 0.000000% 0.000000% 0.000000% 02.~~000000~~564103% 04.~~000000~~449613% 0.000000% 0.000000% 0.000000% 04.~~000000~~449613% 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~~564103% 0.000000% 0.000000% 0.000000% 02.~~000000~~564103% 04.~~000000~~449613% 0.000000% 0.000000% 0.000000% 04.~~000000~~449613% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 10 0 0 0 10 ~~402,100~~0.00 0.00 0.00 0.00 ~~402,100~~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 10 0 0 0 10 ~~402,100~~0.00 0.00 0.00 0.00 ~~402,100~~0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~917431~~000000% 0.000000% 0.000000% 0.000000% 0.~~917431~~000000% 0.~~764257~~000000% 0.000000% 0.000000% 0.000000% 0.~~764257~~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.~~917431~~000000% 0.000000% 0.000000% 0.000000% 0.~~917431~~000000% 0.~~764257~~000000% 0.000000% 0.000000% 0.000000% 0.~~764257~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III 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 1 466,~~910~~177.2905 0.00 0.00 466,~~910~~177.2905 30 Days 10 0 0 0 10 ~~425,684~~0.8700 0.00 0.00 0.00 ~~425,684~~0.8700 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 1 0 10 0 21 488,261.79 0.00 ~~299,027~~0.0600 0.00 ~~787~~488,~~288~~261.8579 Totals 2 1 1 0 40 ~~913~~2 488,~~946~~261.6679 466,~~910~~177.2905 ~~299,027~~0.0600 0.00 1954,~~679,884~~438.0184 0-29 Days 1.~~111111~~149425% 0.000000% 0.000000% 1.~~111111~~149425% 1.~~297121~~320599% 0.000000% 0.000000% 1.~~297121~~320599% 30 Days 10.~~111111~~000000% 0.000000% 0.000000% 0.000000% 10.~~111111~~000000% 10.~~182593~~000000% 0.000000% 0.000000% 0.000000% 10.~~182593~~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 1.~~111111~~149425% 0.000000% 10.~~111111~~000000% 0.000000% 21.~~222222~~149425% 1.~~356438~~383161% 0.000000% 0.~~830726~~000000% 0.000000% 21.~~187163~~383161% Totals 21.~~222222~~149425% 1.~~111111~~149425% 10.~~111111~~000000% 0.000000% 42.~~444444~~298851% 21.~~539031~~383161% 1.~~297121~~320599% 0.~~830726~~000000% 0.000000% 42.~~666878~~703760% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV 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 10 0 0 0 10 ~~106,160~~0.4100 0.00 0.00 0.00 ~~106,160~~0.4100 120 Days 01 0 0 0 01 0106,160.0041 0.00 0.00 0.00 0106,160.0041 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 1 0 0 0 1 106,160.41 0.00 0.00 0.00 106,160.41 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 60.~~666667~~000000% 0.000000% 0.000000% 0.000000% 60.~~666667~~000000% 20.~~160814~~000000% 0.000000% 0.000000% 0.000000% 20.~~160814~~000000% 120 Days 07.~~000000~~142857% 0.000000% 0.000000% 0.000000% 07.~~000000~~142857% 02.~~000000~~296091% 0.000000% 0.000000% 0.000000% 02.~~000000~~296091% 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~~142857% 0.000000% 0.000000% 0.000000% 67.~~666667~~142857% 2.~~160814~~296091% 0.000000% 0.000000% 0.000000% 2.~~160814~~296091%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 95,~~704~~876.4604

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 9492,~~064~~585,~~314~~121.4859 94.~~49365844~~46231626% 5.~~506342~~537684% 0.000000% Class 2A 217,063,493.00 74.01341132% 4443,~~117~~130,~~956~~356.4021 44.~~31932690~~00483878% 50.~~174332~~457477% ~~485~~486.~~775235~~348342% Class 3A 54,226,393.00 18.48989102% 1413,~~040~~674,~~620~~178.6574 1413.~~10470718~~95142734% 30.~~214620~~053411% ~~292~~289.~~530335~~678112% Class R-I 13,197,543.00 4.50004358% 10,~~281~~168,~~783~~589.5228 10.~~32871334~~37476087% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 10,~~281~~168,~~783~~589.5228 10.~~32871334~~37476087% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 6,~~397~~327,~~725~~291.1126 6.~~42692667~~45557923% 3.~~901787~~919182% 37.776115% Class B-2 5,279,193.00 1.80007738% 4,~~112~~067,~~865~~586.7235 4.~~13163834~~15005804% 2.~~295288~~305521% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~513~~485,~~510~~839.8914 2.~~52498347~~53624037% 1.~~606655~~613818% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~713~~694,~~794~~927.5201 1.~~72161691~~72929223% 0.~~803367~~806948% 7.777993% Class B-5 1,319,993.00 0.45008575% 1,~~028~~017,~~367~~046.8736 1.~~03306172~~03766732% 0.~~688555~~691625% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~033062~~037667% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 4.~~126615~~058052% Weighted Average Net Coupon 3.~~748458~~680097% Weighted Average Pass-Through Rate 3.~~748458~~680097% Weighted Average Maturity(Stepdown Calculation ) ~~331~~330 Beginning Scheduled Collateral Loan Count ~~262~~254 Number Of Loans Paid In Full 86 Ending Scheduled Collateral Loan Count ~~254~~248 Beginning Scheduled Collateral Balance ~~102~~99,~~970~~545,~~066~~637.6928 Ending Scheduled Collateral Balance 9998,~~545~~012,~~637~~758.2816 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 9998,~~649~~097,~~424~~902.7352 Monthly P &I Constant ~~463~~444,~~679~~403.1830 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 31,~~475~~687,~~539~~993.2892 Ending Scheduled Balance for Premium Loans 9998,~~545~~012,~~637~~758.2816 Scheduled Principal ~~109~~107,~~581~~768.0182 Unscheduled Principal 31,~~314~~425,~~848~~110.4030

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 54.~~086302~~966075 3.~~098812~~077716 4.~~974600~~896610 Weighted Average Net Rate 4.~~711300~~591075 2.~~723812~~702716 4.~~599600~~521610 Weighted Average Maturity ~~264~~263 ~~276~~275 ~~331~~330 Beginning Loan Count 40 ~~111~~109 9490 Loans Paid In Full 01 21 43 Ending Loan Count 4039 ~~109~~108 9087 Beginning Scheduled Balance 6,~~386~~104,~~039~~572.1193 5352,~~654~~613,~~602~~229.9525 3735,~~512~~925,~~153~~265.7828 Ending scheduled Balance 6,~~104~~046,~~572~~549.9340 52,~~613~~108,~~229~~853.2560 35,~~925~~242,~~265~~798.2890 Record Date 0910/3031/2003 0910/3031/2003 0910/3031/2003 Principal And Interest Constant 52,~~333~~205.2203 ~~138~~134,~~554~~940.5948 ~~229~~217,~~230~~388.5132 Scheduled Principal 2526,~~265~~941.4589 0.00 7370,~~723~~794.8999 Unscheduled Principal ~~256~~31,~~200~~081.7364 1504,~~041,373~~375.7065 1611,~~513,164~~671.6139 Scheduled Interest 2725,~~067~~263.7714 ~~138~~134,~~554~~940.5948 ~~155~~146,~~506~~593.6233 Servicing Fees 1,~~995~~907.6568 16,~~767~~441.0664 11,~~722~~226.5464 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 2523,~~072~~355.1246 ~~121~~118,~~787~~498.5384 ~~143~~135,~~784~~366.0869 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.~~711302~~591075 2.~~723812~~702716 4.~~599600~~521610

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~303129~~303320 4.~~126615~~058052 Weighted Average Net Rate 6.~~868129~~868318 3.~~748458~~680097 Weighted Average Maturity ~~331~~330 ~~331~~330 Beginning Loan Count 1715 ~~262~~254 Loans Paid In Full 21 86 Ending Loan Count 1514 ~~254~~248 Beginning Scheduled Balance 54,~~417~~902,~~270~~569.8582 ~~102~~99,~~970~~545,~~066~~637.6928 Ending scheduled Balance 4,~~902~~614,~~569~~556.8226 9998,~~545~~012,~~637~~758.2816 Record Date 0910/3031/2003 0910/3031/2003 Principal And Interest Constant 4339,~~560~~869.8647 ~~463~~444,~~679~~403.1830 Scheduled Principal 10,~~591~~031.6794 ~~109~~107,~~581~~768.0182 Unscheduled Principal ~~504~~277,~~109~~981.3662 31,~~314~~425,~~848~~110.4030 Scheduled Interest 3229,~~969~~837.1953 ~~354~~336,~~098~~634.1748 Servicing Fees 1,~~963~~777.7619 3231,~~449~~353.0115 Master Servicing Fees 0.00 0.00 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 3128,~~005~~060.4334 ~~321~~305,~~649~~281.1633 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.~~868129~~868320 3.~~748458~~680097

Miscellaneous Reporting Group Group I Senior Percentage Group I 9089.~~000276~~790439% Senior Prep. Percentage Group I 9594.~~000138~~895219% Subordinate Percentage Group I 910.~~999724~~209561% Subordinate Prep. Percentage Group I 45.~~999862~~104781% Group Group II Senior Percentage Group II 94.~~980850~~931178% Senior Prep. Percentage Group II 97.~~490425~~465589% Subordinate Percentage Group II 5.~~019150~~068822% Subordinate Prep. Percentage Group II 2.~~509575~~534411% Group Group III Senior Percentage Group III 8483.~~057702~~721959% Senior Prep. Percentage Group III 9291.~~028851~~860979% Subordinate Percentage Group III 1516.~~942298~~278041% Subordinate Prep. Percentage Group III 78.~~971149~~139021%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 7776.~~811523~~670752% Senior Prep. Percentage Group IV 88.~~905761~~335376% Subordinate Percentage Group IV 2223.~~188477~~329248% Subordinate Prep. Percentage Group IV 11.~~094239~~664624%

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT SER 2001-7