8-K 1 bst02003.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 2002-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-09 90-0072905 Pooling and Servicing Agreement) (Commission 90-0072844 (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 December 26, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-3 Trust, relating to the 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 2002-3 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 2002-3 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: 2002-3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MJZ6 SEN 5.~~89546~~85240% 2216,~~782~~497,~~764~~535.6292 ~~109~~80,~~672~~458.2841 41,~~385~~447,~~017~~084.6734 II-A 07384MKC5 SEN 6.~~02567~~00811% 2519,~~474~~697,~~667~~142.1781 ~~125~~98,~~339~~618.1084 1,~~949~~388,~~651~~647.5789 R-I 07384MKA9 RES 6.~~11500~~11526% 0.00 0.00 0.00 R-II 07384MKB7 RES 6.~~11500~~11526% 0.00 0.00 0.00 B-1 07384MKE1 SUB 5.~~96710~~93920% 1,~~805~~583,~~173~~333.6930 87,~~795~~836.3944 ~~111~~59,~~363~~077.6176 B-2 07384MKF8 SUB 5.~~96710~~93920% 1,~~375~~206,~~412~~386.8438 65,~~701~~970.4580 8445,~~851~~013.0801 B-3 07384MKG6 SUB 5.~~96710~~93920% ~~945~~829,~~651~~439.9945 4,~~607~~105.5217 5830,~~338~~948.5527 B-4 07384MKH4 SUB 5.~~96710~~93920% ~~343~~301,~~821~~568.4070 1,~~675~~492.2156 2111,~~210~~252.8121 B-5 07384MKJ0 SUB 5.~~96710~~93920% ~~343~~301,~~821~~568.4070 1,~~675~~492.2156 2111,~~210~~252.8121 B-6 07384MKK7 SUB 5.~~96710~~93920% ~~343~~301,~~947~~678.1498 1,~~675~~493.8211 2111,~~218~~256.5633 Totals 5340,~~415~~718,~~260~~654.2524 ~~260~~201,~~141~~467.9889 63,~~652~~004,~~862~~532.6602

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 1815,~~397~~050,~~746~~451.9559 41,~~494~~527,~~689~~542.9575 0.00 II-A 0.00 2318,~~525~~308,~~015~~494.6092 21,~~074~~487,~~990~~266.6773 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 1,~~693~~524,~~810~~255.0854 ~~120~~66,~~159~~914.0020 0.00 B-2 0.00 1,~~290~~161,~~561~~373.7636 9150,~~552~~983.5381 0.00 B-3 0.00 ~~887~~798,~~313~~491.4319 6235,~~946~~053.0744 0.00 B-4 0.00 ~~322~~290,~~610~~316.6048 2212,~~886~~744.0277 0.00 B-5 0.00 ~~322~~290,~~610~~316.6048 2212,~~886~~744.0277 0.00 B-6 0.00 ~~322~~290,~~728~~422.5765 2212,~~894~~749.3844 0.00 Totals 0.00 4637,~~762~~714,~~397~~122.5921 63,~~913~~205,~~004~~999.6491 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 113,308,600.00 2216,~~782~~497,~~764~~535.6292 2618,~~002~~720.5648 41,~~359~~428,~~015~~363.1086 0.00 0.00 II-A 148,858,000.00 2519,~~474~~697,~~667~~142.1781 2518,~~300~~662.3876 1,~~924~~369,~~351~~985.1913 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 2,837,800.00 1,~~805~~583,~~173~~333.6930 1,~~913~~631.1440 ~~109~~57,~~450~~446.4736 0.00 0.00 B-2 2,162,200.00 1,~~375~~206,~~412~~386.8438 1,~~457~~243.6801 8343,~~393~~770.4100 0.00 0.00 B-3 1,486,600.00 ~~945~~829,~~651~~439.9945 ~~1,002~~854.2162 5730,~~336~~093.3465 0.00 0.00 B-4 540,500.00 ~~343~~301,~~821~~568.4070 ~~364~~310.3972 2010,~~846~~941.4249 0.00 0.00 B-5 540,500.00 ~~343~~301,~~821~~568.4070 ~~364~~310.3972 2010,~~846~~941.4249 0.00 0.00 B-6 540,697.70 ~~343~~301,~~947~~678.1498 ~~364~~310.5284 2010,~~854~~945.0549 0.00 0.00 Totals 270,274,997.70 5340,~~415~~718,~~260~~654.2524 5642,~~769~~044.2755 62,~~596~~962,~~093~~487.4047 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 41,~~385~~447,~~017~~084.6734 1815,~~397~~050,~~746~~451.9559 0.~~16236850~~13282709 41,~~385~~447,~~017~~084.6734 II-A 1,~~949~~388,~~651~~647.5789 2318,~~525~~308,~~015~~494.6092 0.~~15803662~~12299302 1,~~949~~388,~~651~~647.5789 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 ~~111~~59,~~363~~077.6176 1,~~693~~524,~~810~~255.0854 0.~~59687437~~53712578 ~~111~~59,~~363~~077.6176 B-2 8445,~~851~~013.0801 1,~~290~~161,~~561~~373.7636 0.~~59687437~~53712578 8445,~~851~~013.0801 B-3 5830,~~338~~948.5527 ~~887~~798,~~313~~491.4319 0.~~59687436~~53712578 5830,~~338~~948.5527 B-4 2111,~~210~~252.8121 ~~322~~290,~~610~~316.6048 0.~~59687438~~53712577 2111,~~210~~252.8121 B-5 2111,~~210~~252.8121 ~~322~~290,~~610~~316.6048 0.~~59687438~~53712577 2111,~~210~~252.8121 B-6 2111,~~218~~256.5633 ~~322~~290,~~728~~422.5765 0.~~59687432~~53712574 2111,~~218~~256.5633 Totals 63,~~652~~004,~~862~~532.6602 4637,~~762~~714,~~397~~122.5921 0.~~17301784~~13953981 63,~~652~~004,~~862~~532.6602

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 113,308,600.00 ~~201~~145.~~06827390~~59826809 0.~~22948443~~16521676 3812.~~47029352~~60596160 0.00000000 II-A 148,858,000.00 ~~171~~132.~~13401477~~32169457 0.~~16996319~~12537291 129.~~92742876~~20330201 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 ~~636~~557.~~11730566~~94393544 0.~~67416308~~57488195 3820.~~56877511~~24327296 0.00000000 B-2 2,162,200.00 ~~636~~557.~~11730645~~94393673 0.~~67416520~~57488206 3820.~~56877717~~24327074 0.00000000 B-3 1,486,600.00 ~~636~~557.~~11730795~~94393246 0.~~67416252~~57488228 3820.~~56877438~~24327324 0.00000000 B-4 540,500.00 ~~636~~557.~~11729880~~94394080 0.~~67417206~~57487512 3820.~~56876966~~24327475 0.00000000 B-5 540,500.00 ~~636~~557.~~11729880~~94394080 0.~~67417206~~57487512 3820.~~56876966~~24327475 0.00000000 B-6 540,697.70 ~~636~~557.~~11726109~~94389360 0.~~67416599~~57488685 3820.~~56877882~~24327087 0.00000000 2) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 3812.~~69977804~~77117836 ~~162~~132.~~36849586~~82708982 0.~~16236850~~13282709 3812.~~69977804~~77117836 II-A 0.00000000 139.~~09739194~~32867491 ~~158~~122.~~03662282~~99301966 0.~~15803662~~12299302 139.~~09739194~~32867491 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3920.~~24293819~~81815491 ~~596~~537.~~87436747~~12578053 0.~~59687437~~53712578 3920.~~24293819~~81815491 B-2 0.00000000 3920.~~24293775~~81815281 ~~596~~537.~~87436870~~12577930 0.~~59687437~~53712578 3920.~~24293775~~81815281 B-3 0.00000000 3920.~~24293690~~81815552 ~~596~~537.~~87436432~~12578367 0.~~59687436~~53712578 3920.~~24293690~~81815552 B-4 0.00000000 3920.~~24294172~~81814986 ~~596~~537.~~87437558~~12577243 0.~~59687438~~53712577 3920.~~24294172~~81814986 B-5 0.00000000 3920.~~24294172~~81814986 ~~596~~537.~~87437558~~12577243 0.~~59687438~~53712577 3920.~~24294172~~81814986 B-6 0.00000000 3920.~~24292632~~81815772 ~~596~~537.~~87431628~~12573588 0.~~59687432~~53712574 3920.~~24292632~~81815772 (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 113,308,600.00 5.~~89546~~85240% 2216,~~782~~497,~~764~~535.6292 ~~111~~80,~~929~~458.1441 0.00 0.00 II-A 148,858,000.00 6.~~02567~~00811% 2519,~~474~~697,~~667~~142.1781 ~~127~~98,~~918~~618.3584 0.00 0.00 R-I 50.00 6.~~11500~~11526% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~11500~~11526% 0.00 0.00 0.00 0.00 B-1 2,837,800.00 5.~~96710~~93920% 1,~~805~~583,~~173~~333.6930 87,~~976~~836.3844 0.00 0.00 B-2 2,162,200.00 5.~~96710~~93920% 1,~~375~~206,~~412~~386.8438 65,~~839~~970.3680 0.00 0.00 B-3 1,486,600.00 5.~~96710~~93920% ~~945~~829,~~651~~439.9945 4,~~702~~105.3317 0.00 0.00 B-4 540,500.00 5.~~96710~~93920% ~~343~~301,~~821~~568.4070 1,~~709~~492.6856 0.00 0.00 B-5 540,500.00 5.~~96710~~93920% ~~343~~301,~~821~~568.4070 1,~~709~~492.6856 0.00 0.00 B-6 540,697.70 5.~~96710~~93920% ~~343~~301,~~947~~678.1498 1,~~710~~493.3111 0.00 0.00 Totals 270,274,997.70 ~~265~~201,~~495~~467.2389 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A ~~2,256~~0.8500 0.00 ~~109~~80,~~672~~458.2841 0.00 1815,~~397~~050,~~746~~451.9559 II-A ~~2,579~~0.2500 0.00 ~~125~~98,~~339~~618.1084 0.00 2318,~~525~~308,~~015~~494.6092 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 ~~180~~0.9900 0.00 87,~~795~~836.3944 0.00 1,~~693~~524,~~810~~255.0854 B-2 ~~137~~0.9000 0.00 65,~~701~~970.4580 0.00 1,~~290~~161,~~561~~373.7636 B-3 940.8100 0.00 4,~~607~~105.5217 0.00 ~~887~~798,~~313~~491.4319 B-4 340.4700 0.00 1,~~675~~492.2156 0.00 ~~322~~290,~~610~~316.6048 B-5 340.4700 0.00 1,~~675~~492.2156 0.00 ~~322~~290,~~610~~316.6048 B-6 340.4900 0.00 1,~~675~~493.8211 0.00 ~~322~~290,~~728~~422.5765 Totals ~~5,353~~0.2300 0.00 ~~260~~201,~~141~~467.9889 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 113,308,600.00 5.~~89546~~85240% ~~201~~145.~~06827390~~59826809 0.~~98782564~~71008211 0.00000000 0.00000000 II-A 148,858,000.00 6.~~02567~~00811% ~~171~~132.~~13401477~~32169457 0.~~85933138~~66250279 0.00000000 0.00000000 R-I 50.00 6.~~11500~~11526% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~11500~~11526% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,837,800.00 5.~~96710~~93920% ~~636~~557.~~11730566~~94393544 32.~~16314751~~76144901 0.00000000 0.00000000 B-2 2,162,200.00 5.~~96710~~93920% ~~636~~557.~~11730645~~94393673 32.~~16314864~~76144667 0.00000000 0.00000000 B-3 1,486,600.00 5.~~96710~~93920% ~~636~~557.~~11730795~~94393246 32.~~16314409~~76144894 0.00000000 0.00000000 B-4 540,500.00 5.~~96710~~93920% ~~636~~557.~~11729880~~94394080 32.~~16314524~~76144311 0.00000000 0.00000000 B-5 540,500.00 5.~~96710~~93920% ~~636~~557.~~11729880~~94394080 32.~~16314524~~76144311 0.00000000 0.00000000 B-6 540,697.70 5.~~96710~~93920% ~~636~~557.~~11726109~~94389360 32.~~16315383~~76145062 0.00000000 0.00000000 5) All Senior Certificates are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.~~01991773~~00000000 0.00000000 0.~~96790782~~71008211 0.00000000 ~~162~~132.~~36849586~~82708982 II-A 0.~~01732692~~00000000 0.00000000 0.~~84200446~~66250279 0.00000000 ~~158~~122.~~03662282~~99301966 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~06377828~~00000000 0.00000000 32.~~09936923~~76144901 0.00000000 ~~596~~537.~~87436747~~12578053 B-2 0.~~06377763~~00000000 0.00000000 32.~~09936639~~76144667 0.00000000 ~~596~~537.~~87436870~~12577930 B-3 0.~~06377640~~00000000 0.00000000 32.~~09936768~~76144894 0.00000000 ~~596~~537.~~87436432~~12578367 B-4 0.~~06377428~~00000000 0.00000000 32.~~09937095~~76144311 0.00000000 ~~596~~537.~~87437558~~12577243 B-5 0.~~06377428~~00000000 0.00000000 32.~~09937095~~76144311 0.00000000 ~~596~~537.~~87437558~~12577243 B-6 0.~~06378795~~00000000 0.00000000 32.~~09936587~~76145062 0.00000000 ~~596~~537.~~87431628~~12573588 (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 63,~~929~~214,~~943~~164.7244 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 917,~~116~~731.7297 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 63,~~939~~231,~~060~~896.4441 Withdrawals Reimbursement for Servicer Advances 1013,~~349~~845.7699 Payment of Service Fee 1512,~~706~~050.0451 Payment of Interest and Principal 63,~~913~~205,~~004~~999.6491 Total Withdrawals (Pool Distribution Amount) 63,~~939~~231,~~060~~896.4441 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 ~~5,353~~0.2400

SERVICING FEES Gross Servicing Fee 1512,~~706~~050.0451 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 1512,~~706~~050.0451

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 24 0 0 0 24 ~~940~~1,~~705~~400,230.6148 0.00 0.00 0.00 ~~940~~1,~~705~~400,230.6148 60 Days 01 0 0 0 01 0500,638.0010 0.00 0.00 0.00 0500,638.0010 90 Days 01 0 01 0 02 0439,575.0009 0.00 0496,083.0003 0.00 0935,658.0012 120 Days 0 0 10 0 10 0.00 0.00 ~~497,634~~0.7100 0.00 ~~497,634~~0.7100 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 26 0 1 0 37 ~~940~~2,~~705~~340,443.6167 0.00 ~~497~~496,~~634~~083.7103 0.00 12,~~438~~836,~~340~~526.3270 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 14.~~724138~~255319% 0.000000% 0.000000% 0.000000% 14.~~724138~~255319% 23.~~009920~~708833% 0.000000% 0.000000% 0.000000% 23.~~009920~~708833% 60 Days 01.~~000000~~063830% 0.000000% 0.000000% 0.000000% 01.~~000000~~063830% 01.~~000000~~326055% 0.000000% 0.000000% 0.000000% 01.~~000000~~326055% 90 Days 01.~~000000~~063830% 0.000000% 01.~~000000~~063830% 0.000000% 02.~~000000~~127660% 01.~~000000~~164316% 0.000000% 01.~~000000~~313990% 0.000000% 02.~~000000~~478306% 120 Days 0.000000% 0.000000% 0.~~862069~~000000% 0.000000% 0.~~862069~~000000% 0.000000% 0.000000% 10.~~063251~~000000% 0.000000% 10.~~063251~~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 16.~~724138~~382979% 0.000000% 01.~~862069~~063830% 0.000000% 27.~~586207~~446809% 26.~~009920~~199204% 0.000000% 1.~~063251~~313990% 0.000000% 37.~~073170~~513194%

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 02 0 0 0 02 0659,567.0053 0.00 0.00 0.00 0659,567.0053 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 02 0 0 0 02 0659,567.0053 0.00 0.00 0.00 0659,567.0053 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 05.~~000000~~128205% 0.000000% 0.000000% 0.000000% 05.~~000000~~128205% 03.~~000000~~882659% 0.000000% 0.000000% 0.000000% 03.~~000000~~882659% 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 05.~~000000~~128205% 0.000000% 0.000000% 0.000000% 05.~~000000~~128205% 03.~~000000~~882659% 0.000000% 0.000000% 0.000000% 03.~~000000~~882659% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 ~~940~~740,~~705~~662.6195 0.00 0.00 0.00 ~~940~~740,~~705~~662.6195 60 Days 01 0 0 0 01 0500,638.0010 0.00 0.00 0.00 0500,638.0010 90 Days 01 0 01 0 02 0439,575.0009 0.00 0496,083.0003 0.00 0935,658.0012 120 Days 0 0 10 0 10 0.00 0.00 ~~497,634~~0.7100 0.00 ~~497,634~~0.7100 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 24 0 1 0 35 ~~940~~1,~~705~~680,876.6114 0.00 ~~497~~496,~~634~~083.7103 0.00 12,~~438~~176,~~340~~959.3217 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 23.~~857143~~636364% 0.000000% 0.000000% 0.000000% 23.~~857143~~636364% 3.~~579498~~566638% 0.000000% 0.000000% 0.000000% 3.~~579498~~566638% 60 Days 01.~~000000~~818182% 0.000000% 0.000000% 0.000000% 01.~~000000~~818182% 02.~~000000~~410806% 0.000000% 0.000000% 0.000000% 02.~~000000~~410806% 90 Days 01.~~000000~~818182% 0.000000% 01.~~000000~~818182% 0.000000% 03.~~000000~~636364% 02.~~000000~~116759% 0.000000% 02.~~000000~~388871% 0.000000% 04.~~000000~~505631% 120 Days 0.000000% 0.000000% 10.~~428571~~000000% 0.000000% 10.~~428571~~000000% 0.000000% 0.000000% 10.~~893560~~000000% 0.000000% 10.~~893560~~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 27.~~857143~~272727% 0.000000% 1.~~428571~~818182% 0.000000% 49.~~285714~~090909% 38.~~579498~~094204% 0.000000% 12.~~893560~~388871% 0.000000% 510.~~473058~~483075%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 917,~~116~~731.7297

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 156,966,397.70 58.07655130% 2822,~~364~~663,~~650~~670.6462 60.~~65696395~~09332655% 39.~~343036~~906673% 9594.~~378709~~588640% Class 2A 8,108,397.70 3.00005467% 4,~~839~~355,~~635~~175.0470 1011.~~34941596~~54786442% 5048.~~307548~~545462% 22.~~463666~~748533% Class B-1 5,270,597.70 1.95008704% 32,~~145~~830,~~824~~920.9616 67.~~72725335~~50626024% 34.~~622163~~041604% 1.~~617392~~893906% Class B-2 3,108,397.70 1.15008703% 1,~~855~~669,~~263~~546.2080 34.~~96742532~~42684783% 23.~~759828~~079412% 1.~~232337~~443021% Class B-3 1,621,797.70 0.60005465% ~~967~~871,~~949~~055.7761 2.~~06993187~~30962716% 12.~~897493~~117221% 0.~~847282~~992135% Class B-4 1,081,297.70 0.40007315% ~~645~~580,~~339~~739.1713 1.~~38003867~~53984528% 0.~~689893~~769782% 0.~~308056~~360722% Class B-5 540,797.70 0.20009165% ~~322~~290,~~728~~422.5765 0.~~69014547~~77006340% 0.~~689893~~769782% 0.~~308056~~360722% Class B-6 100.00 0.00003700% 0.00 0.00000000% 0.~~690145~~770063% 0.~~308168~~360854% Class R-II 50.00 0.00001850% 0.00 0.00000000% 0.000000% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~317324~~292499% Weighted Average Net Coupon 5.~~964480~~937364% Weighted Average Pass-Through Rate 5.~~964480~~937364% Weighted Average Maturity(Stepdown Calculation ) ~~339~~337 Beginning Scheduled Collateral Loan Count ~~133~~101 Number Of Loans Paid In Full 177 Ending Scheduled Collateral Loan Count ~~116~~94 Beginning Scheduled Collateral Balance 5340,~~415~~718,~~260~~654.24 Ending Scheduled Collateral Balance 4637,~~762~~714,~~397~~122.5822 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 4637,~~803~~753,~~146~~937.5816 Monthly P &I Constant ~~337~~255,~~970~~562.5397 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 63,~~574~~014,~~516~~809.7347 Ending Scheduled Balance for Premium Loans 4637,~~762~~714,~~397~~122.5822 Scheduled Principal 5642,~~769~~044.2656 Unscheduled Principal 62,~~596~~962,~~093~~487.4046

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage - Group 1 9089.~~757419~~177281% Senior Percentage - Group 2 8988.~~977265~~650208% Senior Prepay Pct - Group 1 9594.~~378709~~588640% Senior Prepay Pct - Group 2 94.~~988632~~325104% Subordinate Percentage - Group 1 910.~~242581~~822719% Subordinate Percentage - Group 2 1011.~~022735~~349792% Sub Prep Percentage Group 1 45.~~621291~~411360% Sub Prep Percentage Group 2 5.~~011368~~674896%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~223319~~183671 6.~~400673~~383111 6.~~317324~~292499 Weighted Average Net Rate 5.~~895464~~852395 6.~~025674~~008111 5.~~964480~~937364 Weighted Average Maturity ~~338~~336 ~~339~~337 ~~339~~337 Beginning Loan Count 5842 7559 ~~133~~101 Loans Paid In Full 123 54 177 Ending Loan Count 4639 7055 ~~116~~94 Beginning Scheduled Balance 2518,~~102~~499,~~922~~707.5216 2822,~~312~~218,~~337~~947.7208 5340,~~415~~718,~~260~~654.24 Ending scheduled Balance 2016,~~504~~968,~~053~~635.7403 2620,~~258~~745,~~343~~487.8419 4637,~~762~~714,~~397~~122.5822 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~158~~116,~~836~~322.8751 ~~179~~139,~~133~~240.6646 ~~337~~255,~~970~~562.5397 Scheduled Principal 2820,~~650~~992.6243 2821,~~118~~052.6413 5642,~~769~~044.2656 Unscheduled Principal 41,~~570~~510,~~218~~079.1670 21,~~025~~452,~~875~~407.2476 62,~~596~~962,~~093~~487.4046 Scheduled Interest ~~130~~95,~~186~~330.2508 ~~151~~118,~~015~~188.0233 ~~281~~213,~~201~~518.2741 Servicing Fees 65,~~858~~107.4409 86,~~847~~943.6042 1512,~~706~~050.0451 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 ~~123~~90,~~327~~222.8199 ~~142~~111,~~167~~244.4291 ~~265~~201,~~495~~467.2390 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 5.~~895464~~852395 6.~~025673~~008111 5.~~964480~~937364

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