8-K 1 bst03005.txt MARCH 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): March 25, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2003-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-22 54-2121787 Pooling and Servicing Agreement) (Commission 54-2121788 (State or other File Number) 54-2121789 jurisdiction 54-2123731 of Incorporation) IRS EIN c/o Wells Fargo Bank, 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 March 25, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-5 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 2003-5 Trust, relating to the March 25, 2004 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 2003-5 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 4/1/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-5 Trust, relating to the March 25, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 112/3029/032004 Distribution Date: 123/2625/032004 BST Series: 2003-5 Contact: ~~CTSLink~~ Customer Service - CTSLink Wells Fargo Bank ~~Minnesota~~, N.A. ~~Corporate~~Securities ~~Trust~~Administration Services ~~9062~~7485 ~~Old~~New ~~Annapolis~~Horizon ~~Road~~Way ~~Columbia~~Frederick, MD ~~21045-1951~~21703 Telephone: (301) 815-6600 Fax: (301) 815-~~6600~~6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07384MWF5 SEN 4.~~20727~~17552% ~~123~~112,~~326~~779,~~692~~615.0114 ~~432~~392,~~390~~427.5553 26,~~787~~773,~~964~~592.2574 I-A-2 07384MWG3 SEN 3.~~96107~~95535% ~~173~~161,~~822~~495,~~549~~953.9278 ~~573~~532,~~769~~310.3548 411,~~357~~304,~~931~~543.1302 I-X 07384MWJ7 SEN 0.55900% 0.00 8075,~~972~~230.3420 0.00 I-A-3 07384MWH1 SEN 4.~~49352~~48697% ~~106~~104,~~192~~107,~~008~~406.5395 ~~397~~389,~~646~~271.3396 24170,~~040~~233.2952 R-I 07384MWS7 SEN 4.~~23949~~23742% 0.00 0.00 0.00 R-II 07384MWT5 SEN 0.00000% 0.00 0.00 0.00 R-III 07384MWU2 SEN 4.~~23949~~23742% 0.00 0.00 0.00 R-IV 07384MYP1 SEN 4.~~23949~~23742% 0.00 0.00 0.00 II-A-1 07384MWN8 SEN 4.~~60655~~59832% ~~335~~321,~~871~~139,~~216~~334.4027 1,~~289~~230,~~338~~583.8012 39,~~245~~070,~~921~~496.2110 II-X 07384MXM9 SEN 0.39300% 0.00 ~~109~~105,~~997~~173.8213 0.00 I-B-1 07384MWK4 SUB 4.~~41222~~39795% 4,~~943~~932,~~091~~858.2104 18,~~174~~078.9874 3,~~390~~430.5129 I-B-2 07384MWL2 SUB 4.~~41222~~39795% 3,~~766~~758,~~103~~306.0043 13,~~847~~774.3805 2,~~583~~613.2151 I-B-3 07384MWM0 SUB 4.~~41222~~39795% 2,~~589~~583,~~214~~854.5133 9,~~520~~469.1473 1,~~775~~796.9780 I-B-4 07384MXN7 SUB 4.~~41222~~39795% 1,~~176~~174,~~888~~452.4910 4,~~327~~304.2432 ~~807~~816.2471 I-B-5 07384MXP2 SUB 4.~~41222~~39795% ~~706~~704,~~113~~651.1535 2,~~596~~582.2752 ~~484~~490.3301 I-B-6 07384MXQ0 SUB 4.~~41222~~39795% ~~941~~939,~~645~~695.2990 3,~~462~~443.2895 ~~645~~653.8846 II-B-1 07384MWP3 SUB 4.~~99955~~99132% 6,~~511~~496,~~324~~007.3155 27,~~128~~019.0668 5,~~095~~182.6362 II-B-2 07384MWQ1 SUB 4.~~99955~~99132% 2,~~238~~232,~~264~~999.6249 9,~~325~~288.2600 1,~~751~~781.6252 II-B-3 07384MWR9 SUB 4.~~99955~~99132% 1,~~424~~420,~~286~~936.7738 5,~~933~~910.9928 1,~~114~~133.6265 II-B-4 07384MXR8 SUB 4.~~99955~~99132% ~~813~~812,~~977~~063.8510 3,~~391~~377.2772 ~~637~~647.0088 II-B-5 07384MXS6 SUB 4.~~99955~~99132% ~~610~~608,~~408~~972.6274 2,~~543~~532.1498 ~~477~~485.6985 II-B-6 07384MXT4 SUB 4.~~99955~~99132% ~~813~~812,~~951~~036.0133 3,~~391~~377.1661 ~~636~~647.9886 Totals ~~765~~725,~~747~~999,~~735~~143.6988 2,~~987~~828,~~756~~156.3600 1027,~~435~~338,~~257~~545.5654

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~120~~106,~~538~~006,~~727~~022.7640 37,~~220~~166,~~354~~020.8027 0.00 I-A-2 0.00 ~~169~~150,~~464~~191,~~618~~410.7976 411,~~931~~836,~~700~~853.4850 0.00 I-X 0.00 0.00 8075,~~972~~230.3420 0.00 I-A-3 0.00 ~~106~~103,~~167~~937,~~968~~173.2443 ~~421~~559,~~686~~505.6248 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 R-IV 0.00 0.00 0.00 0.00 II-A-1 0.00 ~~332~~312,~~625~~068,~~295~~838.1916 410,~~535~~301,~~260~~079.0122 0.00 II-X 0.00 0.00 ~~109~~105,~~997~~173.8213 0.00 I-B-1 0.00 4,~~939~~929,~~700~~427.6975 21,~~565~~509.4903 0.00 I-B-2 0.00 3,~~763~~755,~~519~~692.7991 16,~~430~~387.5956 0.00 I-B-3 0.00 2,~~587~~582,~~438~~057.5452 11,~~296~~266.1153 0.00 I-B-4 0.00 1,~~176~~173,~~081~~635.2539 5,~~134~~121.4803 0.00 I-B-5 0.00 ~~705~~704,~~628~~161.8234 3,~~080~~072.6053 0.00 I-B-6 0.00 ~~940~~939,~~999~~042.4144 4,~~108~~097.1641 0.00 II-B-1 0.00 6,~~506~~490,~~228~~824.6893 32,~~223~~202.6930 0.00 II-B-2 0.00 2,~~236~~231,~~513~~217.0097 11,~~076~~069.8852 0.00 II-B-3 0.00 1,~~423~~419,~~172~~802.1574 7,~~048~~043.6193 0.00 II-B-4 0.00 ~~813~~811,~~340~~415.8423 4,~~028~~025.2760 0.00 II-B-5 0.00 ~~609~~608,~~930~~486.9289 3,~~020~~018.83 0.00 II-B-6 0.00 ~~813~~811,~~314~~388.0348 4,~~028~~025.1447 0.00 Totals 0.00 ~~755~~698,~~312~~660,~~478~~598.1034 1330,~~423~~166,~~013~~701.9254 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-1 148,666,550.00 ~~123~~112,~~326~~779,~~692~~615.0114 ~~126~~118,~~617~~374.1881 26,~~661~~655,~~347~~217.0793 0.00 0.00 I-A-2 198,473,900.00 ~~173~~161,~~822~~495,~~549~~953.9278 ~~134~~125,~~661~~716.4155 411,~~223~~178,~~269~~826.7247 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 I-A-3 110,784,000.00 ~~106~~104,~~192~~107,~~008~~406.5395 7,~~622~~832.0436 16162,~~418~~401.2516 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 R-III 50.00 0.00 0.00 0.00 0.00 0.00 R-IV 50.00 0.00 0.00 0.00 0.00 0.00 II-A-1 395,768,100.00 ~~335~~321,~~871~~139,~~216~~334.4027 ~~262~~256,~~846~~210.12 28,~~983~~814,~~075~~285.0998 0.00 0.00 II-X 0.00 0.00 0.00 0.00 0.00 0.00 I-B-1 4,957,000.00 4,~~943~~932,~~091~~858.2104 3,~~390~~430.5129 0.00 0.00 0.00 I-B-2 3,776,700.00 3,~~766~~758,~~103~~306.0043 2,~~583~~613.2151 0.00 0.00 0.00 I-B-3 2,596,500.00 2,~~589~~583,~~214~~854.5133 1,~~775~~796.9780 0.00 0.00 0.00 I-B-4 1,180,200.00 1,~~176~~174,~~888~~452.4910 ~~807~~816.2471 0.00 0.00 0.00 I-B-5 708,100.00 ~~706~~704,~~113~~651.1535 ~~484~~490.3301 0.00 0.00 0.00 I-B-6 944,294.88 ~~941~~939,~~645~~695.2990 ~~645~~653.8846 0.00 0.00 0.00 II-B-1 6,531,500.00 6,~~511~~496,~~324~~007.3155 5,~~095~~182.6362 0.00 0.00 0.00 II-B-2 2,245,200.00 2,~~238~~232,~~264~~999.6249 1,~~751~~781.6252 0.00 0.00 0.00 II-B-3 1,428,700.00 1,~~424~~420,~~286~~936.7738 1,~~114~~133.6265 0.00 0.00 0.00 II-B-4 816,500.00 ~~813~~812,~~977~~063.8510 ~~637~~647.0088 0.00 0.00 0.00 II-B-5 612,300.00 ~~610~~608,~~408~~972.6274 ~~477~~485.6985 0.00 0.00 0.00 II-B-6 816,473.08 ~~813~~812,~~951~~036.0133 ~~636~~647.9886 0.00 0.00 0.00 Totals 880,306,217.96 ~~765~~725,~~747~~999,~~735~~143.6988 ~~551~~527,~~147~~814.4300 926,~~884~~810,~~110~~731.1354 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 26,~~787~~773,~~964~~592.2574 ~~120~~106,~~538~~006,~~727~~022.7640 0.~~81079925~~71304555 26,~~787~~773,~~964~~592.2574 I-A-2 411,~~357~~304,~~931~~543.1302 ~~169~~150,~~464~~191,~~618~~410.7976 0.~~85383831~~75673129 411,~~357~~304,~~931~~543.1302 I-X 0.00 0.00 0.00000000 0.00 I-A-3 24170,~~040~~233.2952 ~~106~~103,~~167~~937,~~968~~173.2443 0.~~95833305~~93819661 24170,~~040~~233.2952 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 R-IV 0.00 0.00 0.00000000 0.00 II-A-1 39,~~245~~070,~~921~~496.2110 ~~332~~312,~~625~~068,~~295~~838.1916 0.~~84045504~~78851438 39,~~245~~070,~~921~~496.2110 II-X 0.00 0.00 0.00000000 0.00 I-B-1 3,~~390~~430.5129 4,~~939~~929,~~700~~427.6975 0.~~99651013~~99443771 3,~~390~~430.5129 I-B-2 2,~~583~~613.2151 3,~~763~~755,~~519~~692.7991 0.~~99651013~~99443771 2,~~583~~613.2151 I-B-3 1,~~775~~796.9780 2,~~587~~582,~~438~~057.5452 0.~~99651013~~99443771 1,~~775~~796.9780 I-B-4 ~~807~~816.2471 1,~~176~~173,~~081~~635.2539 0.~~99651013~~99443771 ~~807~~816.2471 I-B-5 ~~484~~490.3301 ~~705~~704,~~628~~161.8234 0.~~99651013~~99443771 ~~484~~490.3301 I-B-6 ~~645~~653.8846 ~~940~~939,~~999~~042.4144 0.~~99651013~~99443771 ~~645~~653.8846 II-B-1 5,~~095~~182.6362 6,~~506~~490,~~228~~824.6893 0.~~99613086~~99377248 5,~~095~~182.6362 II-B-2 1,~~751~~781.6252 2,~~236~~231,~~513~~217.0097 0.~~99613086~~99377248 1,~~751~~781.6252 II-B-3 1,~~114~~133.6265 1,~~423~~419,~~172~~802.1574 0.~~99613085~~99377248 1,~~114~~133.6265 II-B-4 ~~637~~647.0088 ~~813~~811,~~340~~415.8423 0.~~99613085~~99377248 ~~637~~647.0088 II-B-5 ~~477~~485.6985 ~~609~~608,~~930~~486.9289 0.~~99613085~~99377248 ~~477~~485.6985 II-B-6 ~~636~~647.9886 ~~813~~811,~~314~~388.0348 0.~~99613086~~99377248 ~~636~~647.9886 Totals 1027,~~435~~338,~~257~~545.5654 ~~755~~698,~~312~~660,~~478~~598.1034 0.~~85801107~~79365633 1027,~~435~~338,~~257~~545.5654

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 148,666,550.00 ~~829~~758.~~55239097~~60787205 0.~~85168574~~79624374 1744.~~90145174~~76607502 0.00000000 I-A-2 198,473,900.00 ~~875~~813.~~79550722~~68861991 0.~~67848422~~63341603 2156.~~27871584~~32391196 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 110,784,000.00 ~~958~~939.~~55004811~~73323720 0.~~06880091~~07069938 01.~~14820055~~46592613 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 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 395,768,100.00 ~~848~~811.~~65661583~~43309496 0.~~66414175~~64737436 722.~~53743187~~27134016 0.00000000 II-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-B-1 4,957,000.00 ~~997~~995.~~19411136~~12972362 0.~~68398426~~69200928 0.00000000 0.00000000 I-B-2 3,776,700.00 ~~997~~995.~~19411126~~12972436 0.~~68398602~~69200890 0.00000000 0.00000000 I-B-3 2,596,500.00 ~~997~~995.~~19411130~~12972463 0.~~68398614~~69200847 0.00000000 0.00000000 I-B-4 1,180,200.00 ~~997~~995.~~19411117~~12972378 0.~~68398577~~69200983 0.00000000 0.00000000 I-B-5 708,100.00 ~~997~~995.~~19411100~~12971332 0.~~68398531~~69200678 0.00000000 0.00000000 I-B-6 944,294.88 ~~997~~995.~~19410742~~12972050 0.~~68398126~~69200841 0.00000000 0.00000000 II-B-1 6,531,500.00 ~~996~~994.~~91101738~~56595728 0.~~78016229~~79348082 0.00000000 0.00000000 II-B-2 2,245,200.00 ~~996~~994.~~91101906~~56595849 0.~~78016212~~79347942 0.00000000 0.00000000 II-B-3 1,428,700.00 ~~996~~994.~~91101701~~56595506 0.~~78016379~~79348359 0.00000000 0.00000000 II-B-4 816,500.00 ~~996~~994.~~91102266~~56595224 0.~~78015922~~79348438 0.00000000 0.00000000 II-B-5 612,300.00 ~~996~~994.~~91102401~~56596440 0.~~78015679~~79348359 0.00000000 0.00000000 II-B-6 816,473.08 ~~996~~994.~~91101879~~56595679 0.~~78016044~~79348605 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 1845.~~75313747~~56231876 ~~810~~713.~~79925350~~04555329 0.~~81079925~~71304555 1845.~~75313747~~56231876 I-A-2 0.00000000 2156.~~95720007~~95732799 ~~853~~756.~~83830715~~73129192 0.~~85383831~~75673129 2156.~~95720007~~95732799 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.00000000 01.~~21700146~~53662551 ~~958~~938.~~33304665~~19661169 0.~~95833305~~93819661 01.~~21700146~~53662551 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 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 822.~~20157362~~91871452 ~~840~~788.~~45504221~~51438042 0.~~84045504~~78851438 822.~~20157362~~91871452 II-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-B-1 0.00000000 0.~~68398426~~69200928 ~~996~~994.~~51012508~~43771434 0.~~99651013~~99443771 0.~~68398426~~69200928 I-B-2 0.00000000 0.~~68398602~~69200890 ~~996~~994.~~51012524~~43771282 0.~~99651013~~99443771 0.~~68398602~~69200890 I-B-3 0.00000000 0.~~68398614~~69200847 ~~996~~994.~~51012517~~43771231 0.~~99651013~~99443771 0.~~68398614~~69200847 I-B-4 0.00000000 0.~~68398577~~69200983 ~~996~~994.~~51012540~~43771395 0.~~99651013~~99443771 0.~~68398577~~69200983 I-B-5 0.00000000 0.~~68398531~~69200678 ~~996~~994.~~51012569~~43770654 0.~~99651013~~99443771 0.~~68398531~~69200678 I-B-6 0.00000000 0.~~68398126~~69200841 ~~996~~994.~~51012616~~43771208 0.~~99651013~~99443771 0.~~68398126~~69200841 II-B-1 0.00000000 0.~~78016229~~79348082 ~~996~~993.~~13085509~~77247646 0.~~99613086~~99377248 0.~~78016229~~79348082 II-B-2 0.00000000 0.~~78016212~~79347942 ~~996~~993.~~13085694~~77247907 0.~~99613086~~99377248 0.~~78016212~~79347942 II-B-3 0.00000000 0.~~78016379~~79348359 ~~996~~993.~~13085322~~77247848 0.~~99613085~~99377248 0.~~78016379~~79348359 II-B-4 0.00000000 0.~~78015922~~79348438 ~~996~~993.~~13085119~~77248010 0.~~99613085~~99377248 0.~~78015922~~79348438 II-B-5 0.00000000 0.~~78015679~~79348359 ~~996~~993.~~13085089~~77248081 0.~~99613085~~99377248 0.~~78015679~~79348359 II-B-6 0.00000000 0.~~78016044~~79348605 ~~996~~993.~~13085835~~77248298 0.~~99613086~~99377248 0.~~78016044~~79348605 (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-1 148,666,550.00 4.~~20727~~17552% ~~123~~112,~~326~~779,~~692~~615.0114 ~~432~~392,~~390~~427.5553 0.00 0.00 I-A-2 198,473,900.00 3.~~96107~~95535% ~~173~~161,~~822~~495,~~549~~953.9278 ~~573~~532,~~769~~310.3547 0.00 0.00 I-X 0.00 0.55900% ~~173~~161,~~822~~495,~~549~~953.9278 8075,~~972~~230.3420 0.00 0.00 I-A-3 110,784,000.00 4.~~49352~~48697% ~~106~~104,~~192~~107,~~008~~406.5395 ~~397~~389,~~646~~271.3396 0.00 0.00 R-I 50.00 4.~~23949~~23742% 0.00 0.00 0.00 0.00 R-II 50.00 0.00000% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~23949~~23742% 0.00 0.00 0.00 0.00 R-IV 50.00 4.~~23949~~23742% 0.00 0.00 0.00 0.00 II-A-1 395,768,100.00 4.~~60655~~59832% ~~335~~321,~~871~~139,~~216~~334.4027 1,~~289~~230,~~338~~583.8011 0.00 0.00 II-X 0.00 0.39300% ~~335~~321,~~871~~139,~~216~~334.4027 ~~109~~105,~~997~~173.8213 0.00 0.00 I-B-1 4,957,000.00 4.~~41222~~39795% 4,~~943~~932,~~091~~858.2104 18,~~174~~078.9874 0.00 0.00 I-B-2 3,776,700.00 4.~~41222~~39795% 3,~~766~~758,~~103~~306.0043 13,~~847~~774.3805 0.00 0.00 I-B-3 2,596,500.00 4.~~41222~~39795% 2,~~589~~583,~~214~~854.5133 9,~~520~~469.1473 0.00 0.00 I-B-4 1,180,200.00 4.~~41222~~39795% 1,~~176~~174,~~888~~452.4910 4,~~327~~304.2432 0.00 0.00 I-B-5 708,100.00 4.~~41222~~39795% ~~706~~704,~~113~~651.1535 2,~~596~~582.2752 0.00 0.00 I-B-6 944,294.88 4.~~41222~~39795% ~~941~~939,~~645~~695.2990 3,~~462~~443.2895 0.00 0.00 II-B-1 6,531,500.00 4.~~99955~~99132% 6,~~511~~496,~~324~~007.3155 27,~~128~~019.0668 0.00 0.00 II-B-2 2,245,200.00 4.~~99955~~99132% 2,~~238~~232,~~264~~999.6249 9,~~325~~288.2600 0.00 0.00 II-B-3 1,428,700.00 4.~~99955~~99132% 1,~~424~~420,~~286~~936.7738 5,~~933~~910.9928 0.00 0.00 II-B-4 816,500.00 4.~~99955~~99132% ~~813~~812,~~977~~063.8510 3,~~391~~377.2772 0.00 0.00 II-B-5 612,300.00 4.~~99955~~99132% ~~610~~608,~~408~~972.6274 2,~~543~~532.1498 0.00 0.00 II-B-6 816,473.08 4.~~99955~~99132% ~~813~~812,~~951~~036.0133 3,~~391~~377.1661 0.00 0.00 Totals 880,306,217.96 2,~~987~~828,~~756~~155.3698 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 0.00 0.00 ~~432~~392,~~390~~427.5553 0.00 ~~120~~106,~~538~~006,~~727~~022.7640 I-A-2 0.00 0.00 ~~573~~532,~~769~~310.3548 0.00 ~~169~~150,~~464~~191,~~618~~410.7976 I-X 0.00 0.00 8075,~~972~~230.3420 0.00 ~~169~~150,~~464~~191,~~618~~410.7976 I-A-3 0.00 0.00 ~~397~~389,~~646~~271.3396 0.00 ~~106~~103,~~167~~937,~~968~~173.2443 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 R-IV 0.00 0.00 0.00 0.00 0.00 II-A-1 (0.0001) 0.00 1,~~289~~230,~~338~~583.8012 0.00 ~~332~~312,~~625~~068,~~295~~838.1916 II-X 0.00 0.00 ~~109~~105,~~997~~173.8213 0.00 ~~332~~312,~~625~~068,~~295~~838.1916 I-B-1 0.00 0.00 18,~~174~~078.9874 0.00 4,~~939~~929,~~700~~427.6975 I-B-2 0.00 0.00 13,~~847~~774.3805 0.00 3,~~763~~755,~~519~~692.7991 I-B-3 0.00 0.00 9,~~520~~469.1473 0.00 2,~~587~~582,~~438~~057.5452 I-B-4 0.00 0.00 4,~~327~~304.2432 0.00 1,~~176~~173,~~081~~635.2539 I-B-5 0.00 0.00 2,~~596~~582.2752 0.00 ~~705~~704,~~628~~161.8234 I-B-6 0.00 0.00 3,~~462~~443.2895 0.00 ~~940~~939,~~999~~042.4144 II-B-1 0.00 0.00 27,~~128~~019.0668 0.00 6,~~506~~490,~~228~~824.6893 II-B-2 0.00 0.00 9,~~325~~288.2600 0.00 2,~~236~~231,~~513~~217.0097 II-B-3 0.00 0.00 5,~~933~~910.9928 0.00 1,~~423~~419,~~172~~802.1574 II-B-4 0.00 0.00 3,~~391~~377.2772 0.00 ~~813~~811,~~340~~415.8423 II-B-5 0.00 0.00 2,~~543~~532.1498 0.00 ~~609~~608,~~930~~486.9289 II-B-6 0.00 0.00 3,~~391~~377.1661 0.00 ~~813~~811,~~314~~388.0348 Totals (0.0001) 0.00 2,~~987~~828,~~756~~156.3600 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-1 148,666,550.00 4.~~20727~~17552% ~~829~~758.~~55239097~~60787205 2.~~90845890~~63964913 0.00000000 0.00000000 I-A-2 198,473,900.00 3.~~96107~~95535% ~~875~~813.~~79550722~~68861991 2.~~89090581~~68201748 0.00000000 0.00000000 I-X 0.00 0.55900% ~~875~~813.~~79550722~~68861991 0.~~40797475~~37904329 0.00000000 0.00000000 I-A-3 110,784,000.00 4.~~49352~~48697% ~~958~~939.~~55004811~~73323720 3.~~58938412~~51379224 0.00000000 0.00000000 R-I 50.00 4.~~23949~~23742% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~23949~~23742% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 4.~~23949~~23742% 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 395,768,100.00 4.~~60655~~59832% ~~848~~811.~~65661583~~43309496 3.~~25781386~~10935396 0.00000000 0.00000000 II-X 0.00 0.39300% ~~848~~811.~~65661583~~43309496 0.~~27793503~~26574433 0.00000000 0.00000000 I-B-1 4,957,000.00 4.~~41222~~39795% ~~997~~995.~~19411136~~12972362 3.~~66652814~~64711317 0.00000000 0.00000000 I-B-2 3,776,700.00 4.~~41222~~39795% ~~997~~995.~~19411126~~12972436 3.~~66652898~~64711256 0.00000000 0.00000000 I-B-3 2,596,500.00 4.~~41222~~39795% ~~997~~995.~~19411130~~12972463 3.~~66652802~~64711342 0.00000000 0.00000000 I-B-4 1,180,200.00 4.~~41222~~39795% ~~997~~995.~~19411117~~12972378 3.~~66653110~~64711066 0.00000000 0.00000000 I-B-5 708,100.00 4.~~41222~~39795% ~~997~~995.~~19411100~~12971332 3.~~66653015~~64711199 0.00000000 0.00000000 I-B-6 944,294.88 4.~~41222~~39795% ~~997~~995.~~19410742~~12972050 3.~~66652417~~64711286 0.00000000 0.00000000 II-B-1 6,531,500.00 4.~~99955~~99132% ~~996~~994.~~91101738~~56595728 4.~~15341958~~13682615 0.00000000 0.00000000 II-B-2 2,245,200.00 4.~~99955~~99132% ~~996~~994.~~91101906~~56595849 4.~~15342063~~13682523 0.00000000 0.00000000 II-B-3 1,428,700.00 4.~~99955~~99132% ~~996~~994.~~91101701~~56595506 4.~~15341919~~13682369 0.00000000 0.00000000 II-B-4 816,500.00 4.~~99955~~99132% ~~996~~994.~~91102266~~56595224 4.~~15342315~~13682792 0.00000000 0.00000000 II-B-5 612,300.00 4.~~99955~~99132% ~~996~~994.~~91102401~~56596440 4.~~15342153~~13682835 0.00000000 0.00000000 II-B-6 816,473.08 4.~~99955~~99132% ~~996~~994.~~91101879~~56595679 4.~~15342536~~13682959 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 0.00000000 0.00000000 2.~~90845890~~63964913 0.00000000 ~~810~~713.~~79925350~~04555329 I-A-2 0.00000000 0.00000000 2.~~89090581~~68201753 0.00000000 ~~853~~756.~~83830715~~73129192 I-X 0.00000000 0.00000000 0.~~40797475~~37904329 0.00000000 ~~853~~756.~~83830715~~73129192 I-A-3 0.00000000 0.00000000 3.~~58938412~~51379224 0.00000000 ~~958~~938.~~33304665~~19661169 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 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 (0.~~00000000~~00000003) 0.00000000 3.~~25781386~~10935399 0.00000000 ~~840~~788.~~45504221~~51438042 II-X 0.00000000 0.00000000 0.~~27793503~~26574433 0.00000000 ~~840~~788.~~45504221~~51438042 I-B-1 0.00000000 0.00000000 3.~~66652814~~64711317 0.00000000 ~~996~~994.~~51012508~~43771434 I-B-2 0.00000000 0.00000000 3.~~66652898~~64711256 0.00000000 ~~996~~994.~~51012524~~43771282 I-B-3 0.00000000 0.00000000 3.~~66652802~~64711342 0.00000000 ~~996~~994.~~51012517~~43771231 I-B-4 0.00000000 0.00000000 3.~~66653110~~64711066 0.00000000 ~~996~~994.~~51012540~~43771395 I-B-5 0.00000000 0.00000000 3.~~66653015~~64711199 0.00000000 ~~996~~994.~~51012569~~43770654 I-B-6 0.00000000 0.00000000 3.~~66652417~~64711286 0.00000000 ~~996~~994.~~51012616~~43771208 II-B-1 0.00000000 0.00000000 4.~~15341958~~13682615 0.00000000 ~~996~~993.~~13085509~~77247646 II-B-2 0.00000000 0.00000000 4.~~15342063~~13682523 0.00000000 ~~996~~993.~~13085694~~77247907 II-B-3 0.00000000 0.00000000 4.~~15341919~~13682369 0.00000000 ~~996~~993.~~13085322~~77247848 II-B-4 0.00000000 0.00000000 4.~~15342315~~13682792 0.00000000 ~~996~~993.~~13085119~~77248010 II-B-5 0.00000000 0.00000000 4.~~15342153~~13682835 0.00000000 ~~996~~993.~~13085089~~77248081 II-B-6 0.00000000 0.00000000 4.~~15342536~~13682959 0.00000000 ~~996~~993.~~13085835~~77248298 (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 1330,~~615~~356,~~826~~066.1571 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1819,~~284~~004.1194 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1330,~~634~~375,~~110~~071.2665 Withdrawals Reimbursement for Servicer Advances 1523,~~932~~465.2313 Payment of Service Fee ~~195~~184,~~164~~904.1199 Payment of Interest and Principal 1330,~~423~~166,~~013~~701.9253 Total Withdrawals (Pool Distribution Amount) 1330,~~634~~375,~~110~~071.2665 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 (0.0001)

SERVICING FEES Gross Servicing Fee ~~169~~161,~~700~~659.7783 Additional Servicing Fees 2422,~~738~~522.3819 Miscellaneous Fee ~~724~~722.9697 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~195~~184,~~164~~904.1199

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 0509,995.00 0.00 0.00 0509,995.00 30 Days 7 0 0 0 7 3,~~448~~490,~~065~~359.4832 0.00 0.00 0.00 3,~~448~~490,~~065~~359.4832 60 Days 1 0 0 0 1 ~~373~~350,~~000~~147.0073 0.00 0.00 0.00 ~~373~~350,~~000~~147.0073 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 10 0 0 0 10 ~~71,020~~0.8600 0.00 0.00 0.00 ~~71,020~~0.8600 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 1 0 0 0 1 216,000.00 0.00 0.00 0.00 216,000.00 Totals 109 01 0 0 10 4,~~108~~056,~~086~~507.3405 0509,995.00 0.00 0.00 4,~~108~~566,~~086~~502.3405 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~~066711% 0.000000% 0.000000% 0.~~000000~~066711% 0.~~000000~~072955% 0.000000% 0.000000% 0.~~000000~~072955% 30 Days 0.~~433974~~466978% 0.000000% 0.000000% 0.000000% 0.~~433974~~466978% 0.~~456252~~499301% 0.000000% 0.000000% 0.000000% 0.~~456252~~499301% 60 Days 0.~~061996~~066711% 0.000000% 0.000000% 0.000000% 0.~~061996~~066711% 0.~~049356~~050089% 0.000000% 0.000000% 0.000000% 0.~~049356~~050089% 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.~~061996~~000000% 0.000000% 0.000000% 0.000000% 0.~~061996~~000000% 0.~~009398~~000000% 0.000000% 0.000000% 0.000000% 0.~~009398~~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.~~061996~~066711% 0.000000% 0.000000% 0.000000% 0.~~061996~~066711% 0.~~028581~~030899% 0.000000% 0.000000% 0.000000% 0.~~028581~~030899% Totals 0.~~619963~~600400% 0.~~000000~~066711% 0.000000% 0.000000% 0.~~619963~~667111% 0.~~543587~~580289% 0.~~000000~~072955% 0.000000% 0.000000% 0.~~543587~~653244%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-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 34 0 0 0 34 1,~~783~~712,~~170~~185.3933 0.00 0.00 0.00 1,~~783~~712,~~170~~185.3933 60 Days 1 0 0 0 1 ~~373~~350,~~000~~147.0073 0.00 0.00 0.00 ~~373~~350,~~000~~147.0073 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 45 0 0 0 45 2,~~156~~062,~~170~~333.3906 0.00 0.00 0.00 2,~~156~~062,~~170~~333.3906 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~983607~~476015% 0.000000% 0.000000% 0.000000% 01.~~983607~~476015% 1.~~424089~~547295% 0.000000% 0.000000% 0.000000% 1.~~424089~~547295% 60 Days 0.~~327869~~369004% 0.000000% 0.000000% 0.000000% 0.~~327869~~369004% 0.~~297888~~316427% 0.000000% 0.000000% 0.000000% 0.~~297888~~316427% 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 1.~~311475~~845018% 0.000000% 0.000000% 0.000000% 1.~~311475~~845018% 1.~~721977~~863722% 0.000000% 0.000000% 0.000000% 1.~~721977~~863722% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-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 21 0 0 0 21 ~~765~~488,~~554~~462.1382 0.00 0.00 0.00 ~~765~~488,~~554~~462.1382 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 0 0 1 216,000.00 0.00 0.00 0.00 216,000.00 Totals 32 0 0 0 32 ~~981~~704,~~554~~462.1382 0.00 0.00 0.00 ~~981~~704,~~554~~462.1382 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~479616~~266667% 0.000000% 0.000000% 0.000000% 0.~~479616~~266667% 0.~~435764~~312366% 0.000000% 0.000000% 0.000000% 0.~~435764~~312366% 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.~~239808~~266667% 0.000000% 0.000000% 0.000000% 0.~~239808~~266667% 0.~~122950~~138129% 0.000000% 0.000000% 0.000000% 0.~~122950~~138129% Totals 0.~~719424~~533333% 0.000000% 0.000000% 0.000000% 0.~~719424~~533333% 0.~~558714~~450495% 0.000000% 0.000000% 0.000000% 0.~~558714~~450495% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 01 0 0 01 0509,995.00 0.00 0.00 0509,995.00 30 Days 2 0 0 0 2 ~~899~~1,~~340~~289,711.9617 0.00 0.00 0.00 ~~899~~1,~~340~~289,711.9617 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 10 0 0 0 10 ~~71,020~~0.8600 0.00 0.00 0.00 ~~71,020~~0.8600 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 32 01 0 0 3 ~~970~~1,~~361~~289,711.8217 0509,995.00 0.00 0.00 ~~970~~1,~~361~~799,706.8217 0-29 Days 0.~~000000~~142450% 0.000000% 0.000000% 0.~~000000~~142450% 0.~~000000~~157092% 0.000000% 0.000000% 0.~~000000~~157092% 30 Days 0.~~271370~~284900% 0.000000% 0.000000% 0.000000% 0.~~271370~~284900% 0.~~260498~~397265% 0.000000% 0.000000% 0.000000% 0.~~260498~~397265% 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.~~135685~~000000% 0.000000% 0.000000% 0.000000% 0.~~135685~~000000% 0.~~020571~~000000% 0.000000% 0.000000% 0.000000% 0.~~020571~~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.~~407056~~284900% 0.~~000000~~142450% 0.000000% 0.000000% 0.~~407056~~427350% 0.~~281069~~397265% 0.~~000000~~157092% 0.000000% 0.000000% 0.~~281069~~554356%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1819,~~284~~004.1194

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~987819~~980272% Weighted Average Net Coupon 4.~~721882~~713065% Weighted Average Pass-Through Rate 4.~~681979~~674643% Weighted Average Maturity(Stepdown Calculation ) ~~352~~349 Beginning Scheduled Collateral Loan Count 1,~~635~~555 Number Of Loans Paid In Full 2256 Ending Scheduled Collateral Loan Count 1,~~613~~499 Beginning Scheduled Collateral Balance ~~765~~725,~~747~~999,~~735~~143.5981 Ending Scheduled Collateral Balance ~~755~~698,~~312~~660,~~478~~598.0327 Ending Actual Collateral Balance at 3029-~~Nov~~Feb-~~2003~~2004 ~~755~~699,~~736~~049,~~248~~723.2455 Monthly P &I Constant 3,~~733~~540,~~990~~874.3198 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~755~~698,~~312~~660,~~478~~598.0327 Scheduled Principal ~~551~~527,~~147~~814.4300 Unscheduled Principal 926,~~884~~810,~~110~~731.1354

~~Group~~Miscellaneous ~~Level~~Reporting ~~Collateral~~Average ~~Statement~~Loss ~~Group~~Severity Group I-1 ~~Group~~0.00 ~~I-2~~Average Loss Severity Group I-32 ~~Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4~~0.~~463054~~00 ~~4.850208 4.793517 Weighted~~ Average ~~Net~~Loss ~~Rate~~Severity ~~4.211436~~Group ~~4.682085~~I-3 40.~~493517~~00 ~~Weighted~~ Average ~~Maturity~~Loss ~~352~~Severity ~~352~~Group ~~351~~II ~~Beginning Loan Count 312 426 154 Loans Paid In Full 7 9~~ 0 ~~Ending Loan Count 305 417 154 Beginning Scheduled Balance 127,905,593~~.8700 ~~179,941,261.84~~Diverted ~~109,617,450.38~~Amount ~~Ending scheduled Balance 125,112,928~~0.5500 ~~175,578,590.51~~Senior ~~109,593,164.23~~Percentage ~~Record~~Group ~~Date~~I-1 ~~11/30/2003 11/30/2003 11/30/2003 Principal And Interest Constant 607,026~~96.26110027% ~~866,695.40~~Senior ~~445,745.49~~Percentage ~~Scheduled~~Group ~~Principal 131,318.25 139,401.61 7,867.90 Unscheduled Principal~~ I-2~~,661,347.07~~ ~~4,223,269~~96.72357729% ~~16,418.25~~Senior ~~Scheduled~~Percentage ~~Interest~~Group ~~475,708.01~~I-3 ~~727,293~~96.79815189% ~~437,877.59~~Senior ~~Servicing~~Percentage ~~Fees~~Group ~~26,819.51~~II ~~25,210~~96.27287201% ~~27,404.36~~Senior ~~Master~~Prepayment ~~Servicing~~Percentage ~~Fees~~Group ~~0.00~~I-1 0100.00000000% ~~0.00~~Senior ~~Trustee~~Prepayment ~~Fee~~Percentage ~~0.00~~Group ~~0.00~~I-2 0100.00000000% ~~FRY~~Senior ~~Amount~~Prepayment ~~0.00~~Percentage ~~0.00~~Group ~~0.00~~I-3 ~~Special Hazard Fee 0~~100.00000000% ~~0.00~~Senior ~~0.00~~Prepayment ~~Other~~Percentage ~~Fee~~Group ~~444.05~~II ~~24,294~~100.33000000% ~~0.00~~Subordinate ~~Pool~~Percentage ~~Insurance~~Group ~~Fee 0.00 0.00 0.00 Spread Fee~~ I-1 03.00889973% ~~0.00~~Subordinate ~~0.00~~Percentage ~~Spread~~Group ~~Fee~~ I-2 03.00642271% ~~0.00~~Subordinate ~~0.00~~Percentage ~~Spread~~Group ~~Fee~~ I-3 03.00184811% ~~0.00~~Subordinate ~~0.00~~Percentage ~~Net~~Group ~~Interest~~II ~~448,444~~3.45712799% ~~677,789.19~~Subordinate ~~410,473.23~~Prepayment ~~Realized~~Percent ~~Loss~~Group ~~Amount~~I-1 0.00 ~~0.00~~Subordinate ~~0.00~~Prepayment ~~Cumulative~~Percent ~~Realized~~Group ~~Loss~~I-2 0.00 ~~0.00~~Subordinate ~~0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000~~ Prepayment ~~Penalties~~Percent ~~0.00~~Group ~~0.00~~I-3 0.00 ~~Special~~Subordinate ~~Servicing~~Prepayment ~~Fee~~Percent ~~0.00~~Group ~~0.00~~II 0.00 ~~Pass-Through Rate 4.207270 4.520070 4.493517~~

Group Level Collateral Statement Group Group III-1 ~~Total~~Group I-2 Group I-3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 54.~~312788~~431800 4.~~987819~~843286 4.786966 Weighted Average Net Rate 54.~~001778~~180037 4.~~721882~~672438 4.486965 Weighted Average Maturity ~~352~~349 ~~352~~349 348 Beginning Loan Count ~~743~~288 ~~1,635~~399 151 Loans Paid In Full 617 2224 0 Ending Loan Count ~~737~~271 ~~1,613~~375 151 Beginning Scheduled Balance ~~348~~117,~~283~~344,~~429~~276.5054 ~~765~~167,~~747~~600,~~735~~415.5928 107,532,102.20 Ending scheduled Balance ~~345~~110,~~027~~565,~~794~~892.7468 ~~755~~156,~~312~~291,~~478~~120.24 107,361,611.03 Record Date 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 02/29/2004 Principal And Interest Constant 1556,~~814~~537.89 806,~~523~~915.1686 3437,~~733,990~~050.3140 Scheduled Principal ~~272~~123,~~559~~165.6793 ~~551~~130,~~147~~468.4357 8,090.01 Unscheduled Principal 26,~~983~~655,~~075~~217.0993 911,~~884~~178,~~110~~826.1347 162,401.16 Scheduled Interest 1433,~~541~~371.96 676,~~963~~447.4929 3428,~~182,842~~960.8839 Servicing Fees 9024,~~266~~619.6311 ~~169~~23,~~700~~861.7785 26,883.03 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 ~~724~~442.9614 2522,~~463~~080.3405 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 1408,~~450~~310.71 630,~~971~~505.9039 2402,~~987,678~~077.7736 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.~~999280~~175516 4.~~681979~~514347 4.486966

Filing Compare · BEAR STEARNS ARM TRUST 2003-5