8-K 1 bst03003.txt DECEMBER 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): December 26, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2003-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-29 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-3 Trust, relating to the December 26, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2003-3 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: 12/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-3 Trust, relating to the December 26, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 BST Series: 2003-3 Contact: CTSLink Customer Service Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07384MUG5 SEN 3.~~58460~~53821% 32,~~234~~943,~~347~~986.4573 98,~~646~~680.3536 ~~237~~5,~~805~~630.0073 I-X-A-1 07384MUH3 SEN 0.87100% 0.00 2,~~343~~136.9184 0.00 I-A-2 07384MUJ9 SEN 4.~~45560~~40921% 2018,~~336~~511,~~935~~204.2667 7568,~~392~~016.3342 135,~~495,270~~404.6794 R-I 07384MUT7 SEN 4.~~54066~~54113% 0.00 0.00 0.00 R-II 07384MUU4 SEN 4.~~54066~~54113% 0.00 0.00 0.00 R-III 07384MUV2 SEN 4.~~54066~~54113% 0.00 0.00 0.00 II-A-1 07384MUL4 SEN 4.~~29447~~28087% 1815,~~237~~626,~~028~~746.8573 6555,~~162~~746.6678 1855,~~545,722~~399.3803 II-X-A-1 07384MUZ3 SEN 0.84300% 0.00 1210,~~791~~977.3879 0.00 II-A-2 07384MUM2 SEN 4.~~22447~~21087% ~~102~~88,~~856~~134,~~842~~851.7058 ~~361~~309,~~526~~270.8661 84,~~717~~824,~~874~~450.2351 II-X-A-2 07384MUN0 SEN 0.91300% 0.00 7867,~~133~~055.93 0.00 II-A-3 07384MUK6 SEN 4.~~26447~~25087% 2118,~~884~~752,~~434~~096.6208 7766,~~648~~427.9433 1,~~854~~026,~~866~~478.8683 II-X-A-3 07384MUQ3 SEN 0.87300% 0.00 1513,~~895~~642.9115 0.00 II-A-4 07384MVA7 SEN 3.52600% 4034,~~207~~452,~~031~~163.6051 ~~117~~101,~~956~~231.0094 31,~~407~~885,~~841~~891.7739 II-X-A-4 07384MVB5 SEN 1.~~61147~~59787% 0.00 5345,~~908~~875.6517 0.00 III-A-1 07384MUP5 SEN 5.~~19298~~18000% ~~149~~128,~~465~~760,~~962~~179.4452 ~~645~~555,~~794~~814.7687 134,~~319~~158,~~846~~216.7360 III-A-2 07384MUR1 SEN 4.~~54598~~53300% ~~115~~99,~~855~~805,~~475~~812.3437 ~~438~~377,~~207~~016.3253 103,~~324~~223,~~606~~156.0131 III-X-A-2 07384MVE9 SEN 0.64700% 0.00 6253,~~367~~811.2497 0.00 III-A-3 07384MVC3 SEN 4.~~05798~~04500% ~~118~~101,~~375~~976,~~312~~572.5610 ~~399~~343,~~674~~746.6111 103,~~549~~293,~~164~~259.4743 III-X-A-3 07384MVD1 SEN 1.13500% 0.00 ~~111~~96,~~787~~452.3684 0.00 IV-A-1 07384MUS9 SEN 5.~~64316~~63603% 6257,~~877~~757,~~516~~078.2492 ~~295~~271,~~225~~266.0794 2590,~~854,899~~162.1627 B-1 07384MUW0 SUB 5.~~19191~~17806% 8,~~935~~918,~~126~~904.8511 38,~~597~~485.9048 8,~~100~~169.1251 B-2 07384MUX8 SUB 5.~~19191~~17806% 7,~~148~~135,~~161~~182.2292 30,~~878~~788.5864 6,~~480~~535.1567 B-3 07384MUY6 SUB 5.~~19191~~17806% 4,~~914~~905,~~279~~357.9551 21,~~228~~166.6784 4,~~455~~493.0320 B-4 07384MVF6 SUB 5.~~19191~~17806% 2,~~233~~229,~~781~~726.7103 9,~~649~~621.4837 2,~~025~~042.0338 B-5 07384MVG4 SUB 5.~~19191~~17806% 1,~~340~~337,~~348~~915.6712 5,~~790~~773.0317 1,~~215~~225.0950 B-6 07384MVH2 SUB 5.~~19191~~17806% 1,~~787~~783,~~172~~928.8200 7,~~720~~697.2273 1,~~620~~634.1604 Totals ~~679~~593,~~689~~031,~~758~~705.2890 2,~~937~~560,~~328~~703.1681 5419,~~331~~922,~~792~~150.8634

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 2,~~996~~938,~~542~~356.4500 ~~247~~14,~~451~~311.3509 0.00 I-X-A-1 0.00 0.00 2,~~343~~136.9184 0.00 I-A-2 0.00 18,~~841~~475,~~664~~799.5973 1103,~~570,663~~421.0036 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 II-A-1 0.00 1614,~~691~~771,~~306~~347.4771 1911,~~610,885~~145.0481 0.00 II-X-A-1 0.00 0.00 1210,~~791~~977.3879 0.00 II-A-2 0.00 9483,~~138~~310,~~968~~401.4707 95,~~079~~133,~~401~~721.0912 0.00 II-X-A-2 0.00 0.00 7867,~~133~~055.93 0.00 II-A-3 0.00 2017,~~029~~725,~~567~~617.7625 1,~~932~~092,~~515~~906.8016 0.00 II-X-A-3 0.00 0.00 1513,~~895~~642.9115 0.00 II-A-4 0.00 3632,~~799~~566,~~189~~272.8412 31,~~525~~987,~~797~~123.7733 0.00 II-X-A-4 0.00 0.00 5345,~~908~~875.6517 0.00 III-A-1 0.00 ~~136~~124,~~146~~601,~~115~~962.7192 134,~~965~~714,~~641~~031.4947 0.00 III-A-2 0.00 ~~105~~96,~~530~~582,~~869~~656.3306 103,~~762~~600,~~813~~172.3384 0.00 III-X-A-2 0.00 0.00 6253,~~367~~811.2497 0.00 III-A-3 0.00 ~~107~~98,~~826~~683,~~148~~312.0967 103,~~948~~637,~~839~~005.0854 0.00 III-X-A-3 0.00 0.00 ~~111~~96,~~787~~452.3684 0.00 IV-A-1 0.00 6057,~~022~~166,~~617~~916.0865 3861,~~150,124~~429.2321 0.00 B-1 0.00 8,~~927~~910,~~026~~734.7460 46,~~698~~654.0299 0.00 B-2 0.00 7,~~141~~128,~~681~~647.0725 37,~~358~~324.7331 0.00 B-3 0.00 4,~~909~~900,~~824~~864.9232 25,~~683~~660.7004 0.00 B-4 0.00 2,~~231~~227,~~756~~683.6865 11,~~674~~663.5175 0.00 B-5 0.00 1,~~339~~336,~~133~~689.5862 76,~~005~~998.1267 0.00 B-6 0.00 1,~~785~~782,~~552~~293.6696 9,~~340~~331.3877 0.00 Totals 0.00 ~~625~~573,~~357~~109,~~965~~555.4458 5722,~~269~~482,~~121~~854.0215 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A-1 5,009,700.00 32,~~234~~943,~~347~~986.4573 4,~~657~~364.3882 ~~233~~1,~~147~~265.6291 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 I-A-2 31,500,000.00 2018,~~336~~511,~~935~~204.2667 2927,~~284~~445.6613 17,~~465,986~~959.0181 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 II-A-1 25,000,000.00 1815,~~237~~626,~~028~~746.8573 1916,~~016~~504.7438 1838,~~526,705~~894.6465 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 141,000,000.00 ~~102~~88,~~856~~134,~~842~~851.7058 ~~107~~93,~~254~~084.4268 84,~~610~~731,~~619~~365.8183 0.00 0.00 II-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 II-A-3 30,000,000.00 2118,~~884~~752,~~434~~096.6208 2219,~~820~~805.0925 1,~~832~~006,~~046~~673.7758 0.00 0.00 II-X-A-3 0.00 0.00 0.00 0.00 0.00 0.00 II-A-4 55,117,300.00 4034,~~207~~452,~~031~~163.6051 4136,~~926~~387.0607 31,~~365~~849,~~915~~504.7133 0.00 0.00 II-X-A-4 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 192,871,000.00 ~~149~~128,~~465~~760,~~962~~179.4452 ~~137~~118,~~178~~783.3590 134,~~182~~039,~~668~~432.3869 0.00 0.00 III-A-2 149,500,000.00 ~~115~~99,~~855~~805,~~475~~812.3437 ~~106~~92,~~330~~072.9891 103,~~218~~131,~~275~~083.0341 0.00 0.00 III-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 III-A-3 152,751,600.00 ~~118~~101,~~375~~976,~~312~~572.5610 ~~108~~94,~~643~~075.6648 103,~~440~~199,~~520~~183.8095 0.00 0.00 III-X-A-3 0.00 0.00 0.00 0.00 0.00 0.00 IV-A-1 88,255,300.00 6257,~~877~~757,~~516~~078.2492 14,~~981~~454.0666 2575,~~839,918~~707.1061 0.00 0.00 B-1 8,974,800.00 8,~~935~~918,~~126~~904.8511 8,~~100~~169.1251 0.00 0.00 0.00 B-2 7,179,900.00 7,~~148~~135,~~161~~182.2292 6,~~480~~535.1567 0.00 0.00 0.00 B-3 4,936,100.00 4,~~914~~905,~~279~~357.9551 4,~~455~~493.0320 0.00 0.00 0.00 B-4 2,243,700.00 2,~~233~~229,~~781~~726.7103 2,~~025~~042.0338 0.00 0.00 0.00 B-5 1,346,300.00 1,~~340~~337,~~348~~915.6712 1,~~215~~225.0950 0.00 0.00 0.00 B-6 1,795,108.62 1,~~787~~783,~~172~~928.8200 1,~~620~~634.1604 0.00 0.00 0.00 Totals 897,481,008.62 ~~679~~593,~~689~~031,~~758~~705.2890 ~~615~~541,~~988~~078.9858 5319,~~715~~381,~~803~~071.8777 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A-1 ~~237~~5,~~805~~630.0073 2,~~996~~938,~~542~~356.4500 0.~~59814808~~58653333 ~~237~~5,~~805~~630.0073 I-X-A-1 0.00 0.00 0.00000000 0.00 I-A-2 135,~~495,270~~404.6794 18,~~841~~475,~~664~~799.5973 0.~~59814808~~58653332 135,~~495,270~~404.6794 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 II-A-1 1855,~~545,722~~399.3803 1614,~~691~~771,~~306~~347.4771 0.~~66765226~~59085391 1855,~~545,722~~399.3803 II-X-A-1 0.00 0.00 0.00000000 0.00 II-A-2 84,~~717~~824,~~874~~450.2351 9483,~~138~~310,~~968~~401.4707 0.~~66765226~~59085391 84,~~717~~824,~~874~~450.2351 II-X-A-2 0.00 0.00 0.00000000 0.00 II-A-3 1,~~854~~026,~~866~~478.8683 2017,~~029~~725,~~567~~617.7625 0.~~66765226~~59085391 1,~~854~~026,~~866~~478.8683 II-X-A-3 0.00 0.00 0.00000000 0.00 II-A-4 31,~~407~~885,~~841~~891.7739 3632,~~799~~566,~~189~~272.8412 0.~~66765226~~59085391 31,~~407~~885,~~841~~891.7739 II-X-A-4 0.00 0.00 0.00000000 0.00 III-A-1 134,~~319~~158,~~846~~216.7360 ~~136~~124,~~146~~601,~~115~~962.7192 0.~~70589210~~64603783 134,~~319~~158,~~846~~216.7360 III-A-2 103,~~324~~223,~~606~~156.0131 ~~105~~96,~~530~~582,~~869~~656.3306 0.~~70589210~~64603783 103,~~324~~223,~~606~~156.0131 III-X-A-2 0.00 0.00 0.00000000 0.00 III-A-3 103,~~549~~293,~~164~~259.4743 ~~107~~98,~~826~~683,~~148~~312.0967 0.~~70589210~~64603783 103,~~549~~293,~~164~~259.4743 III-X-A-3 0.00 0.00 0.00000000 0.00 IV-A-1 2590,~~854,899~~162.1627 6057,~~022~~166,~~617~~916.0865 0.~~68010213~~64774486 2590,~~854,899~~162.1627 B-1 8,~~100~~169.1251 8,~~927~~910,~~026~~734.7460 0.~~99467696~~99286163 8,~~100~~169.1251 B-2 6,~~480~~535.1567 7,~~141~~128,~~681~~647.0725 0.~~99467696~~99286163 6,~~480~~535.1567 B-3 4,~~455~~493.0320 4,~~909~~900,~~824~~864.9232 0.~~99467696~~99286164 4,~~455~~493.0320 B-4 2,~~025~~042.0338 2,~~231~~227,~~756~~683.6865 0.~~99467695~~99286163 2,~~025~~042.0338 B-5 1,~~215~~225.0950 1,~~339~~336,~~133~~689.5862 0.~~99467695~~99286164 1,~~215~~225.0950 B-6 1,~~620~~634.1604 1,~~785~~782,~~552~~293.6696 0.~~99467667~~99286135 1,~~620~~634.1604 Totals 5419,~~331~~922,~~792~~150.8634 ~~625~~573,~~357~~109,~~965~~555.4458 0.~~69679242~~63857569 5419,~~331~~922,~~792~~150.8634

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 5,009,700.00 ~~645~~587.~~61699303~~65729086 0.~~92967244~~87127373 460.~~53923788~~25269178 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 31,500,000.00 ~~645~~587.~~61699238~~65729111 0.~~92967175~~87127397 460.~~53923841~~25269238 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 25,000,000.00 ~~729~~625.~~48115400~~06986920 0.~~76066960~~66017520 6133.~~06822560~~55578600 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 141,000,000.00 ~~729~~625.~~48115390~~06986936 0.~~76066965~~66017504 6133.~~06822560~~55578603 0.00000000 II-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 30,000,000.00 ~~729~~625.~~48115400~~06986933 0.~~76066967~~66017500 6133.~~06822567~~55578600 0.00000000 II-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-4 55,117,300.00 ~~729~~625.~~48115383~~06986935 0.~~76066970~~66017512 6133.~~06822558~~55578611 0.00000000 II-X-A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 192,871,000.00 ~~774~~667.~~95301232~~59740718 0.~~71124404~~61587227 6820.~~34966574~~94370170 0.00000000 III-A-2 149,500,000.00 ~~774~~667.~~95301231~~59740716 0.~~71124401~~61587231 6820.~~34966575~~94370174 0.00000000 III-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-3 152,751,600.00 ~~774~~667.~~95301234~~59740716 0.~~71124401~~61587231 6820.~~34966573~~94370174 0.00000000 III-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 88,255,300.00 ~~712~~654.~~45031449~~43184625 0.~~16974686~~16378235 326.~~17844254~~52320722 0.00000000 B-1 8,974,800.00 ~~995~~993.~~57949481~~77190689 0.~~90254045~~91027210 0.00000000 0.00000000 B-2 7,179,900.00 ~~995~~993.~~57949554~~77190769 0.~~90254043~~91027312 0.00000000 0.00000000 B-3 4,936,100.00 ~~995~~993.~~57949596~~77190697 0.~~90254047~~91027329 0.00000000 0.00000000 B-4 2,243,700.00 ~~995~~993.~~57949369~~77190801 0.~~90254045~~91027321 0.00000000 0.00000000 B-5 1,346,300.00 ~~995~~993.~~57949194~~77190819 0.~~90254030~~91027260 0.00000000 0.00000000 B-6 1,795,108.62 ~~995~~993.~~57920902~~77161923 0.~~90254149~~91027361 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 I-A-1 0.00000000 471.~~46891031~~12396551 ~~598~~586.~~14808272~~53332535 0.~~59814808~~58653333 471.~~46891031~~12396551 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.00000000 471.~~46891016~~12396635 ~~598~~586.~~14808222~~53332476 0.~~59814808~~58653332 471.~~46891016~~12396635 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 6134.~~82889520~~21596120 ~~667~~590.~~65225880~~85390840 0.~~66765226~~59085391 6134.~~82889520~~21596120 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 6134.~~82889525~~21596106 ~~667~~590.~~65225865~~85390830 0.~~66765226~~59085391 6134.~~82889525~~21596106 II-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 0.00000000 6134.~~82889533~~21596100 ~~667~~590.~~65225867~~85390833 0.~~66765226~~59085391 6134.~~82889533~~21596100 II-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-4 0.00000000 6134.~~82889528~~21596105 ~~667~~590.~~65225873~~85390830 0.~~66765226~~59085391 6134.~~82889528~~21596105 II-X-A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 6921.~~06090978~~55957402 ~~705~~646.~~89210255~~03783316 0.~~70589210~~64603783 6921.~~06090978~~55957402 III-A-2 0.00000000 6921.~~06090977~~55957398 ~~705~~646.~~89210254~~03783318 0.~~70589210~~64603783 6921.~~06090977~~55957398 III-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-3 0.00000000 6921.~~06090980~~55957404 ~~705~~646.~~89210254~~03783312 0.~~70589210~~64603783 6921.~~06090980~~55957404 III-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 0.00000000 326.~~34818940~~68698956 ~~680~~647.~~10212508~~74485668 0.~~68010213~~64774486 326.~~34818940~~68698956 B-1 0.00000000 0.~~90254045~~91027210 ~~994~~992.~~67695548~~86163480 0.~~99467696~~99286163 0.~~90254045~~91027210 B-2 0.00000000 0.~~90254043~~91027312 ~~994~~992.~~67695511~~86163456 0.~~99467696~~99286163 0.~~90254043~~91027312 B-3 0.00000000 0.~~90254047~~91027329 ~~994~~992.~~67695549~~86163570 0.~~99467696~~99286164 0.~~90254047~~91027329 B-4 0.00000000 0.~~90254045~~91027321 ~~994~~992.~~67695325~~86163480 0.~~99467695~~99286163 0.~~90254045~~91027321 B-5 0.00000000 0.~~90254030~~91027260 ~~994~~992.~~67695165~~86163559 0.~~99467695~~99286164 0.~~90254030~~91027260 B-6 0.00000000 0.~~90254149~~91027361 ~~994~~992.~~67666753~~86134563 0.~~99467667~~99286135 0.~~90254149~~91027361 (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-1 5,009,700.00 3.~~58460~~53821% 32,~~234~~943,~~347~~986.4573 98,~~661~~680.5336 0.00 0.00 I-X-A-1 0.00 0.87100% 32,~~234~~943,~~347~~986.4573 2,~~347~~136.6084 0.00 0.00 I-A-2 31,500,000.00 4.~~45560~~40921% 2018,~~336~~511,~~935~~204.2667 7568,~~511~~016.0042 0.00 0.00 R-I 100.00 4.~~54066~~54113% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~54066~~54113% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~54066~~54113% 0.00 0.00 0.00 0.00 II-A-1 25,000,000.00 4.~~29447~~28087% 1815,~~237~~626,~~028~~746.8573 6555,~~265~~746.2378 0.00 0.00 II-X-A-1 0.00 0.84300% 1815,~~237~~626,~~028~~746.8573 1210,~~811~~977.5179 0.00 0.00 II-A-2 141,000,000.00 4.~~22447~~21087% ~~102~~88,~~856~~134,~~842~~851.7058 ~~362~~309,~~095~~270.9162 0.00 0.00 II-X-A-2 0.00 0.91300% ~~102~~88,~~856~~134,~~842~~851.7058 7867,~~256~~055.9193 0.00 0.00 II-A-3 30,000,000.00 4.~~26447~~25087% 2118,~~884~~752,~~434~~096.6208 7766,~~771~~427.1633 0.00 0.00 II-X-A-3 0.00 0.87300% 2118,~~884~~752,~~434~~096.6208 1513,~~920~~642.9315 0.00 0.00 II-A-4 55,117,300.00 3.52600% 4034,~~207~~452,~~031~~163.6051 ~~118~~101,~~141~~231.6694 0.00 0.00 II-X-A-4 0.00 1.~~61147~~59787% 4034,~~207~~452,~~031~~163.6051 5345,~~993~~875.5118 0.00 0.00 III-A-1 192,871,000.00 5.~~19298~~18000% ~~149~~128,~~465~~760,~~962~~179.4452 ~~646~~555,~~811~~814.2588 0.00 0.00 III-A-2 149,500,000.00 4.~~54598~~53300% ~~115~~99,~~855~~805,~~475~~812.3437 ~~438~~377,~~897~~016.0654 0.00 0.00 III-X-A-2 0.00 0.64700% ~~115~~99,~~855~~805,~~475~~812.3437 6253,~~465~~811.4197 0.00 0.00 III-A-3 152,751,600.00 4.~~05798~~04500% ~~118~~101,~~375~~976,~~312~~572.5610 ~~400~~343,~~303~~746.7111 0.00 0.00 III-X-A-3 0.00 1.13500% ~~118~~101,~~375~~976,~~312~~572.5610 ~~111~~96,~~963~~452.3284 0.00 0.00 IV-A-1 88,255,300.00 5.~~64316~~63603% 6257,~~877~~757,~~516~~078.2492 ~~295~~271,~~689~~266.7694 0.00 0.00 B-1 8,974,800.00 5.~~19191~~17806% 8,~~935~~918,~~126~~904.8511 38,~~658~~485.6648 0.00 0.00 B-2 7,179,900.00 5.~~19191~~17806% 7,~~148~~135,~~161~~182.2292 30,~~927~~788.1864 0.00 0.00 B-3 4,936,100.00 5.~~19191~~17806% 4,~~914~~905,~~279~~357.9551 21,~~262~~166.0984 0.00 0.00 B-4 2,243,700.00 5.~~19191~~17806% 2,~~233~~229,~~781~~726.7103 9,~~664~~621.6637 0.00 0.00 B-5 1,346,300.00 5.~~19191~~17806% 1,~~340~~337,~~348~~915.6712 5,~~799~~773.1417 0.00 0.00 B-6 1,795,108.62 5.~~19191~~17806% 1,~~787~~783,~~172~~928.8200 7,~~732~~697.3773 0.00 0.00 Totals 897,481,008.62 2,~~941~~560,~~951~~703.5685 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A-1 150.1800 0.00 98,~~646~~680.3536 0.00 2,~~996~~938,~~542~~356.4500 I-X-A-1 30.6900 0.00 2,~~343~~136.9184 0.00 2,~~996~~938,~~542~~356.4500 I-A-2 ~~118~~0.6700 0.00 7568,~~392~~016.3342 0.00 18,~~841~~475,~~664~~799.5973 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 II-A-1 ~~102~~0.5700 0.00 6555,~~162~~746.6678 0.00 1614,~~691~~771,~~306~~347.4771 II-X-A-1 200.1300 0.00 1210,~~791~~977.3879 0.00 1614,~~691~~771,~~306~~347.4771 II-A-2 ~~569~~0.0500 0.00 ~~361~~309,~~526~~270.8661 0.00 9483,~~138~~310,~~968~~401.4707 II-X-A-2 ~~122~~0.9800 0.00 7867,~~133~~055.93 0.00 9483,~~138~~310,~~968~~401.4707 II-A-3 ~~122~~0.2200 0.00 7766,~~648~~427.9433 0.00 2017,~~029~~725,~~567~~617.7625 II-X-A-3 250.0200 0.00 1513,~~895~~642.9115 0.00 2017,~~029~~725,~~567~~617.7625 II-A-4 ~~185~~0.6600 0.00 ~~117~~101,~~956~~231.0094 0.00 3632,~~799~~566,~~189~~272.8412 II-X-A-4 840.8500 0.00 5345,~~908~~875.6517 0.00 3632,~~799~~566,~~189~~272.8412 III-A-1 ~~1,016~~0.4901 0.00 ~~645~~555,~~794~~814.7687 0.00 ~~136~~124,~~146~~601,~~115~~962.7192 III-A-2 ~~689~~0.7501 0.00 ~~438~~377,~~207~~016.3253 0.00 ~~105~~96,~~530~~582,~~869~~656.3306 III-X-A-2 980.1700 0.00 6253,~~367~~811.2497 0.00 ~~105~~96,~~530~~582,~~869~~656.3306 III-A-3 ~~629~~0.0900 0.00 ~~399~~343,~~674~~746.6111 0.00 ~~107~~98,~~826~~683,~~148~~312.0967 III-X-A-3 ~~175~~0.9600 0.00 ~~111~~96,~~787~~452.3684 0.00 ~~107~~98,~~826~~683,~~148~~312.0967 IV-A-1 ~~464~~0.6900 0.00 ~~295~~271,~~225~~266.0794 0.00 6057,~~022~~166,~~617~~916.0865 B-1 600.7500 0.00 38,~~597~~485.9048 0.00 8,~~927~~910,~~026~~734.7460 B-2 480.6000 0.00 30,~~878~~788.5864 0.00 7,~~141~~128,~~681~~647.0725 B-3 330.4100 0.00 21,~~228~~166.6784 0.00 4,~~909~~900,~~824~~864.9232 B-4 150.1900 0.00 9,~~649~~621.4837 0.00 2,~~231~~227,~~756~~683.6865 B-5 90.1100 0.00 5,~~790~~773.0317 0.00 1,~~339~~336,~~133~~689.5862 B-6 120.1500 0.00 7,~~720~~697.2273 0.00 1,~~785~~782,~~552~~293.6696 Totals ~~4,623~~0.3802 0.00 2,~~937~~560,~~328~~703.1681 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-1 5,009,700.00 3.~~58460~~53821% ~~645~~587.~~61699303~~65729086 1.~~92856458~~73271054 0.00000000 0.00000000 I-X-A-1 0.00 0.87100% ~~645~~587.~~61699303~~65729086 0.~~46861089~~42654051 0.00000000 0.00000000 I-A-2 31,500,000.00 4.~~45560~~40921% ~~645~~587.~~61699238~~65729111 2.~~39717460~~15925143 0.00000000 0.00000000 R-I 100.00 4.~~54066~~54113% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~54066~~54113% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~54066~~54113% 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 25,000,000.00 4.~~29447~~28087% ~~729~~625.~~48115400~~06986920 2.~~61060920~~22987120 0.00000000 0.00000000 II-X-A-1 0.00 0.84300% ~~729~~625.~~48115400~~06986920 0.~~51246040~~43911160 0.00000000 0.00000000 II-A-2 141,000,000.00 4.~~22447~~21087% ~~729~~625.~~48115390~~06986936 2.~~56805610~~19340865 0.00000000 0.00000000 II-X-A-2 0.00 0.91300% ~~729~~625.~~48115390~~06986936 0.~~55501355~~47557397 0.00000000 0.00000000 II-A-3 30,000,000.00 4.~~26447~~25087% ~~729~~625.~~48115400~~06986933 2.~~59237200~~21424433 0.00000000 0.00000000 II-X-A-3 0.00 0.87300% ~~729~~625.~~48115400~~06986933 0.~~53069767~~45473833 0.00000000 0.00000000 II-A-4 55,117,300.00 3.52600% ~~729~~625.~~48115383~~06986935 21.~~14345877~~83666362 0.00000000 0.00000000 II-X-A-4 0.00 1.~~61147~~59787% ~~729~~625.~~48115383~~06986935 0.~~97961094~~83231907 0.00000000 0.00000000 III-A-1 192,871,000.00 5.~~19298~~18000% ~~774~~667.~~95301232~~59740718 32.~~35359515~~88179602 0.00000000 0.00000000 III-A-2 149,500,000.00 4.~~54598~~53300% ~~774~~667.~~95301231~~59740716 2.~~93576629~~52184977 0.00000000 0.00000000 III-X-A-2 0.00 0.64700% ~~774~~667.~~95301231~~59740716 0.~~41782883~~35994629 0.00000000 0.00000000 III-A-3 152,751,600.00 4.~~05798~~04500% ~~774~~667.~~95301234~~59740716 2.~~62061877~~25036013 0.00000000 0.00000000 III-X-A-3 0.00 1.13500% ~~774~~667.~~95301234~~59740716 0.~~73297641~~63143587 0.00000000 0.00000000 IV-A-1 88,255,300.00 5.~~64316~~63603% ~~712~~654.~~45031449~~43184625 3.~~35039097~~07366175 0.00000000 0.00000000 B-1 8,974,800.00 5.~~19191~~17806% ~~995~~993.~~57949481~~77190689 4.~~30746758~~28817132 0.00000000 0.00000000 B-2 7,179,900.00 5.~~19191~~17806% ~~995~~993.~~57949554~~77190769 4.~~30746668~~28817114 0.00000000 0.00000000 B-3 4,936,100.00 5.~~19191~~17806% ~~995~~993.~~57949596~~77190697 4.~~30746743~~28817082 0.00000000 0.00000000 B-4 2,243,700.00 5.~~19191~~17806% ~~995~~993.~~57949369~~77190801 4.~~30746535~~28817132 0.00000000 0.00000000 B-5 1,346,300.00 5.~~19191~~17806% ~~995~~993.~~57949194~~77190819 4.~~30746490~~28817500 0.00000000 0.00000000 B-6 1,795,108.62 5.~~19191~~17806% ~~995~~993.~~57920902~~77161923 4.~~30746636~~28816948 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 I-A-1 0.~~00303012~~00000000 0.00000000 1.~~92553446~~73271054 0.00000000 ~~598~~586.~~14808272~~53332535 I-X-A-1 0.~~00073657~~00000000 0.00000000 0.~~46787432~~42654051 0.00000000 ~~598~~586.~~14808272~~53332535 I-A-2 0.~~00376730~~00000000 0.00000000 2.~~39340730~~15925143 0.00000000 ~~598~~586.~~14808222~~53332476 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.~~00410280~~00000000 0.00000000 2.~~60650640~~22987120 0.00000000 ~~667~~590.~~65225880~~85390840 II-X-A-1 0.~~00080520~~00000000 0.00000000 0.~~51165520~~43911160 0.00000000 ~~667~~590.~~65225880~~85390840 II-A-2 0.~~00403582~~00000000 0.00000000 2.~~56402028~~19340858 0.00000000 ~~667~~590.~~65225865~~85390830 II-X-A-2 0.~~00087220~~00000000 0.00000000 0.~~55414135~~47557397 0.00000000 ~~667~~590.~~65225865~~85390830 II-A-3 0.~~00407400~~00000000 0.00000000 2.~~58829800~~21424433 0.00000000 ~~667~~590.~~65225867~~85390833 II-X-A-3 0.~~00083400~~00000000 0.00000000 0.~~52986367~~45473833 0.00000000 ~~667~~590.~~65225867~~85390833 II-A-4 0.~~00336845~~00000000 0.00000000 21.~~14009032~~83666362 0.00000000 ~~667~~590.~~65225873~~85390830 II-X-A-4 0.~~00153944~~00000000 0.00000000 0.~~97807131~~83231889 0.00000000 ~~667~~590.~~65225873~~85390830 III-A-1 0.~~00527031~~00000005 0.00000000 32.~~34832484~~88179597 0.00000000 ~~705~~646.~~89210255~~03783316 III-A-2 0.~~00461371~~00000007 0.00000000 2.~~93115264~~52184970 0.00000000 ~~705~~646.~~89210254~~03783318 III-X-A-2 0.~~00065666~~00000000 0.00000000 0.~~41717217~~35994629 0.00000000 ~~705~~646.~~89210254~~03783318 III-A-3 0.~~00411839~~00000000 0.00000000 2.~~61650032~~25036013 0.00000000 ~~705~~646.~~89210254~~03783312 III-X-A-3 0.~~00115194~~00000000 0.00000000 0.~~73182448~~63143587 0.00000000 ~~705~~646.~~89210254~~03783312 IV-A-1 0.~~00526529~~00000000 0.00000000 3.~~34512568~~07366175 0.00000000 ~~680~~647.~~10212508~~74485668 B-1 0.~~00676895~~00000000 0.00000000 4.~~30069751~~28817132 0.00000000 ~~994~~992.~~67695548~~86163480 B-2 0.~~00676890~~00000000 0.00000000 4.~~30069778~~28817114 0.00000000 ~~994~~992.~~67695511~~86163456 B-3 0.~~00676850~~00000000 0.00000000 4.~~30069691~~28817082 0.00000000 ~~994~~992.~~67695549~~86163570 B-4 0.~~00677007~~00000000 0.00000000 4.~~30069974~~28817132 0.00000000 ~~994~~992.~~67695325~~86163480 B-5 0.~~00676669~~00000000 0.00000000 4.~~30069821~~28817500 0.00000000 ~~994~~992.~~67695165~~86163559 B-6 0.~~00676839~~00000000 0.00000000 4.~~30069797~~28816948 0.00000000 ~~994~~992.~~67666753~~86134563 (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 5722,~~460~~630,~~704~~470.5004 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3340,~~448~~510.9637 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 5722,~~494~~670,~~153~~980.4641 Withdrawals Reimbursement for Servicer Advances 3522,~~295~~669.3557 Payment of Service Fee ~~189~~165,~~737~~456.0969 Payment of Interest and Principal 5722,~~269~~482,~~121~~854.0215 Total Withdrawals (Pool Distribution Amount) 5722,~~494~~670,~~153~~980.4641 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall ~~4,623~~0.4000

SERVICING FEES Gross Servicing Fee ~~189~~164,~~198~~919.8791 Additional Servicing Fees ~~426~~425.5431 Miscellaneous Fee 111.6847 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~189~~165,~~737~~456.0969

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 01 0 0 01 0615,785.0014 0.00 0.00 0615,785.0014 30 Days 913 10 0 0 1013 45,~~393~~619,~~253~~081.7755 ~~617,882~~0.2800 0.00 0.00 5,~~011~~619,~~136~~081.0555 60 Days 2 0 0 0 2 ~~980~~962,~~044~~008.0454 0.00 0.00 0.00 ~~980~~962,~~044~~008.0454 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0608,817.0006 0.00 0608,817.0006 150 Days 10 0 0 0 10 ~~452,029~~0.1700 0.00 0.00 0.00 ~~452,029~~0.1700 180+ Days 0 0 01 0 01 0.00 0.00 0452,029.0017 0.00 0452,029.0017 Totals 1215 1 02 0 1318 56,~~825~~581,~~326~~090.9809 ~~617~~615,~~882~~785.2814 01,060,846.0023 0.00 68,~~443~~257,~~209~~721.2646 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~000000~~078370% 0.000000% 0.000000% 0.~~000000~~078370% 0.~~000000~~107361% 0.000000% 0.000000% 0.~~000000~~107361% 30 Days 01.~~654545~~018809% 0.~~072727~~000000% 0.000000% 0.000000% 01.~~727273~~018809% 0.~~701992~~979674% 0.~~098731~~000000% 0.000000% 0.000000% 0.~~800723~~979674% 60 Days 0.~~145455~~156740% 0.000000% 0.000000% 0.000000% 0.~~145455~~156740% 0.~~156600~~167724% 0.000000% 0.000000% 0.000000% 0.~~156600~~167724% 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~~078370% 0.000000% 0.~~000000~~078370% 0.000000% 0.000000% 0.~~000000~~106146% 0.000000% 0.~~000000~~106146% 150 Days 0.~~072727~~000000% 0.000000% 0.000000% 0.000000% 0.~~072727~~000000% 0.~~072229~~000000% 0.000000% 0.000000% 0.000000% 0.~~072229~~000000% 180+ Days 0.000000% 0.000000% 0.~~000000~~078370% 0.000000% 0.~~000000~~078370% 0.000000% 0.000000% 0.~~000000~~078810% 0.000000% 0.~~000000~~078810% Totals 01.~~872727~~175549% 0.~~072727~~078370% 0.~~000000~~156740% 0.000000% 01.~~945455~~410658% 01.~~930821~~147398% 0.~~098731~~107361% 0.~~000000~~184956% 0.000000% 1.~~029552~~439714%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 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% 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 01 0 0 01 0615,785.0014 0.00 0.00 0615,785.0014 30 Days 26 10 0 0 36 12,~~111~~843,~~030~~431.7649 ~~617,882~~0.2800 0.00 0.00 12,~~728~~843,~~913~~431.0449 60 Days 1 0 0 0 1 ~~371~~617,~~226~~000.9800 0.00 0.00 0.00 ~~371~~617,~~226~~000.9800 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 10 0 0 0 10 ~~452,029~~0.1700 0.00 0.00 0.00 ~~452,029~~0.1700 180 Days 0 0 01 0 01 0.00 0.00 0452,029.0017 0.00 0452,029.0017 Totals 47 1 01 0 59 13,~~934~~460,~~286~~431.9149 ~~617~~615,~~882~~785.2814 0452,029.0017 0.00 24,~~552~~528,~~169~~245.1980 0-29 Days 0.~~000000~~277778% 0.000000% 0.000000% 0.~~000000~~277778% 0.~~000000~~394493% 0.000000% 0.000000% 0.~~000000~~394493% 30 Days 01.~~501253~~666667% 0.~~250627~~000000% 0.000000% 0.000000% 01.~~751880~~666667% 01.~~633433~~821599% 0.~~352274~~000000% 0.000000% 0.000000% 01.~~985706~~821599% 60 Days 0.~~250627~~277778% 0.000000% 0.000000% 0.000000% 0.~~250627~~277778% 0.~~211648~~395271% 0.000000% 0.000000% 0.000000% 0.~~211648~~395271% 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.~~250627~~000000% 0.000000% 0.000000% 0.000000% 0.~~250627~~000000% 0.~~257716~~000000% 0.000000% 0.000000% 0.000000% 0.~~257716~~000000% 180 Days 0.000000% 0.000000% 0.~~000000~~277778% 0.000000% 0.~~000000~~277778% 0.000000% 0.000000% 0.~~000000~~289585% 0.000000% 0.~~000000~~289585% Totals 1.~~002506~~944444% 0.~~250627~~277778% 0.~~000000~~277778% 0.000000% 12.~~253133~~500000% 12.~~102796~~216870% 0.~~352274~~394493% 0.~~000000~~289585% 0.000000% 12.~~455070~~900948% 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 67 0 0 0 67 2,~~510~~775,~~248~~650.2806 0.00 0.00 0.00 2,~~510~~775,~~248~~650.2806 60 Days 1 0 0 0 1 ~~608~~345,~~817~~008.0654 0.00 0.00 0.00 ~~608~~345,~~817~~008.0654 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0608,817.0006 0.00 0608,817.0006 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 78 0 01 0 79 3,~~119~~120,~~065~~658.3460 0.00 0608,817.0006 0.00 3,~~119~~729,~~065~~475.3466 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~772201~~965517% 0.000000% 0.000000% 0.000000% 0.~~772201~~965517% 0.~~688210~~828372% 0.000000% 0.000000% 0.000000% 0.~~688210~~828372% 60 Days 0.~~128700~~137931% 0.000000% 0.000000% 0.000000% 0.~~128700~~137931% 0.~~166913~~102965% 0.000000% 0.000000% 0.000000% 0.~~166913~~102965% 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~~137931% 0.000000% 0.~~000000~~137931% 0.000000% 0.000000% 0.~~000000~~181697% 0.000000% 0.~~000000~~181697% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~900901~~103448% 0.000000% 0.~~000000~~137931% 0.000000% 01.~~900901~~241379% 0.~~855123~~931337% 0.000000% 0.~~000000~~181697% 0.000000% 01.~~855123~~113034% 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 10 0 0 0 10 ~~771,974~~0.7300 0.00 0.00 0.00 ~~771,974~~0.7300 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 ~~771,974~~0.7300 0.00 0.00 0.00 ~~771,974~~0.7300 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~684932~~000000% 0.000000% 0.000000% 0.000000% 0.~~684932~~000000% 10.~~230911~~000000% 0.000000% 0.000000% 0.000000% 10.~~230911~~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.~~684932~~000000% 0.000000% 0.000000% 0.000000% 0.~~684932~~000000% 10.~~230911~~000000% 0.000000% 0.000000% 0.000000% 10.~~230911~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3340,~~448~~510.9637

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 892,471,308.62 99.44180434% ~~622~~570,~~361~~171,~~422~~199.9958 99.~~52082765~~48729593% 95.~~788816~~413283% 0.000000% Class IA2 860,971,308.62 95.93198077% ~~603~~551,~~519~~695,~~758~~399.4085 96.~~50788696~~26351445% 3.~~012941~~223781% 7170.~~546163~~285162% Class R-I 860,971,208.62 95.93196963% ~~603~~551,~~519~~695,~~758~~399.4085 96.~~50788696~~26351445% 0.000000% 0.000000% Class R-II 860,971,158.62 95.93196406% ~~603~~551,~~519~~695,~~758~~399.4085 96.~~50788696~~26351445% 0.000000% 0.000000% Class R-III 860,971,108.62 95.93195849% ~~603~~551,~~519~~695,~~758~~399.4085 96.~~50788696~~26351445% 0.000000% 0.000000% Class 2A1 835,971,108.62 93.14638422% ~~586~~536,~~828~~924,~~451~~052.9314 93.~~83880663~~68611061% 2.~~669080~~577404% 6356.~~380755~~192781% Class 2A2 694,971,108.62 77.43574537% ~~492~~453,~~689~~613,~~483~~651.4607 7879.~~78519355~~14955294% 1514.~~053613~~536558% ~~357~~316.~~467460~~927285% Class 2A3 664,971,108.62 74.09305626% ~~472~~435,~~659~~888,~~915~~033.7082 7576.~~58229715~~05666833% 3.~~202896~~092885% 7667.~~056906~~431337% Class 2A4 609,853,808.62 67.95172296% ~~435~~403,~~860~~321,~~725~~761.8670 6970.~~69779709~~37428669% 5.~~884500~~682382% ~~139~~123.~~735044~~887775% Class B-1 17,501,108.62 1.95002551% 17,~~407~~376,~~948~~178.9180 23.~~78367749~~03191225% 1.~~427507~~554805% 33.897987% Class B-2 10,321,208.62 1.15001972% 10,~~266~~247,~~267~~531.8455 1.~~64166260~~78805805% 1.~~142015~~243854% 27.118617% Class B-3 5,385,108.62 0.60002480% 5,~~356~~346,~~442~~667.9223 0.~~85654029~~93292237% 0.~~785122~~855136% 18.643742% Class B-4 3,141,408.62 0.35002508% 3,~~124~~118,~~686~~983.2458 0.~~49966362~~54422118% 0.~~356877~~388701% 8.474497% Class B-5 1,795,108.62 0.20001633% 1,~~785~~782,~~552~~293.6696 0.~~28552489~~31098661% 0.~~214139~~233235% 5.085000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~285525~~310987% 6.780157% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~529032~~516387% Weighted Average Net Coupon 5.~~194999~~182672% Weighted Average Pass-Through Rate 5.~~194049~~181586% Weighted Average Maturity(Stepdown Calculation ) ~~351~~349 Beginning Scheduled Collateral Loan Count 1,~~477~~313 Number Of Loans Paid In Full ~~102~~37 Ending Scheduled Collateral Loan Count 1,~~375~~276 Beginning Scheduled Collateral Balance ~~679~~593,~~689~~031,~~758~~705.2891 Ending Scheduled Collateral Balance ~~625~~573,~~357~~109,~~965~~555.4457 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~625~~573,~~826~~566,~~626~~634.6051 Monthly P &I Constant 3,~~747~~267,~~677~~239.6409 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 5722,~~135~~345,~~804~~220.7367 Ending Scheduled Balance for Premium Loans ~~625~~573,~~357~~109,~~965~~555.4457 Scheduled Principal ~~615~~541,~~988~~078.9757 Unscheduled Principal 5319,~~715~~381,~~803~~071.8777

Miscellaneous Reporting Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00 Average Loss Severity Group 4 0.00 Senior Percentage Group 1 95.~~531620~~125953% Senior Percentage Group 2 9695.~~019110~~394028% Senior Percentage Group 3 9695.~~242175~~671695% Senior Percentage Group 4 95.~~912032~~567754% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Senior Prepayment Percentage Group 4 100.000000% Subordinate Percentage Group 1 4.~~468380~~874047% Subordinate Percentage Group 2 34.~~980890~~605972% Subordinate Percentage Group 3 34.~~757825~~328305% Subordinate Percentage Group 4 4.~~087968~~432246% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Subordinate Prepay Percent Group 4 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~806208~~759473 5.~~408097~~394772 5.~~566928~~553794 Weighted Average Net Rate 4.~~455598~~409205 5.~~139374~~126081 5.~~193685~~180814 Weighted Average Maturity ~~347~~345 348 350 ~~352~~ Beginning Loan Count 5752 ~~428~~377 ~~840~~743 Loans Paid In Full 40 2917 6318 Ending Loan Count 5352 ~~399~~360 ~~777~~725 Beginning Scheduled Balance 2422,~~673~~554,~~802~~508.0083 ~~190~~164,~~780~~544,~~083~~742.2602 ~~398~~345,~~678~~496,~~388~~715.0155 Ending scheduled Balance 22,~~939~~511,~~138~~843.7328 ~~175~~155,~~245~~944,~~858~~517.5773 ~~364~~334,~~471~~808,~~020~~287.8170 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~134~~122,~~352~~896.4915 1913,~~058,734~~520.4335 21,~~215~~917,~~414~~742.5551 Scheduled Principal 3533,~~529~~439.6483 ~~198~~173,~~936~~785.7690 ~~365~~318,~~902~~727.9980 Unscheduled Principal 19,~~699,133~~225.6372 158,~~335~~426,~~287~~438.9339 3310,~~841~~369,~~464~~700.2105 Scheduled Interest 9889,~~822~~456.8532 ~~859~~739,~~797~~734.6745 1,~~849~~599,~~511~~014.5671 Servicing Fees 76,~~209~~583.0744 4236,~~722~~843.5105 ~~124~~107,~~003~~386.3715 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 ~~303~~302.5565 234.6713 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 9182,~~613~~872.7888 ~~816~~702,~~771~~588.6175 1,~~725~~491,~~273~~394.5243 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.~~455598~~409206 5.~~137465~~123874 5.~~192978~~180001

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~922556~~916136 5.~~529032~~516387 Weighted Average Net Rate 5.~~643157~~636025 5.~~194999~~182672 Weighted Average Maturity ~~351~~349 ~~351~~349 Beginning Loan Count ~~152~~141 1,~~477~~313 Loans Paid In Full 62 ~~102~~37 Ending Loan Count ~~146~~139 1,~~375~~276 Beginning Scheduled Balance 6560,~~557~~435,~~485~~739.0151 ~~679~~593,~~689~~031,~~758~~705.2891 Ending scheduled Balance 6259,~~701~~844,~~947~~906.3386 ~~625~~573,~~357~~109,~~965~~555.4457 Record Date 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~339~~313,~~176~~080.1708 3,~~747~~267,~~677~~239.6409 Scheduled Principal 15,~~619~~125.5804 ~~615~~541,~~988~~078.9757 Unscheduled Principal 2575,~~839,918~~707.1061 5319,~~715~~381,~~803~~071.8777 Scheduled Interest ~~323~~297,~~556~~955.5904 32,~~131~~726,~~688~~160.6752 Servicing Fees 1514,~~263~~107.9227 ~~189~~164,~~198~~919.8791 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 ~~538~~536.2278 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 ~~308~~283,~~292~~847.6777 2,~~941~~560,~~951~~703.5883 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 5.~~643157~~636025 5.~~194049~~181586

Filing Compare · STRUCTURED ASSET MORT INV INC BEAR STEARNS ARM TRUST 2003 3