8-K 1 bsa03001.txt 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-16 52-2120451 Pooling and Servicing Agreement) (Commission 52-2120452 (State or other File Number) 52-2120453 jurisdiction IRS EIN of Incorporation) 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 ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2003-1 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-1 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: 4/2/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-1 Trust, relating to the March 25, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 112/3029/032004 Distribution Date: 123/2625/032004 BSA Series: 2003-1 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 A-1 07384YGX8 SEN 1.~~61875~~59000% ~~293~~257,~~472~~171,~~157~~361.9869 ~~409~~329,~~077~~393.7765 149,~~760~~245,~~138~~397.7802 A-2 07384YGY6 SEN 1.~~86875~~84000% 3833,~~362~~617,~~515~~296.7403 6149,~~733~~828.0130 1,~~929~~208,~~437~~553.0511 A-IO 07384YGZ3 SEN 5.00000% 0.00 257,229.1617 0.00 M-1 07384YHA7 MEZ 2.~~21875~~19000% 30,867,000.00 5854,~~974~~454.1953 0.00 M-2 07384YHB5 MEZ 3.~~11875~~09000% 29,324,000.00 7872,~~752~~992.2532 0.00 B 07384YHC3 SUB 3.~~36875~~34000% 23,151,000.00 6762,~~158~~289.0005 0.00 B-IO BSA031BIO IO 0.00000% 0.00 1,~~955~~678,~~483~~429.8780 0.00 R-1 07384YHD1 RES 0.00000% 0.00 0.00 0.00 R-2 07384YHE9 RES 0.00000% 0.00 0.00 0.00 R-3 07384YHF6 RES 0.00000% 0.00 0.00 0.00 OC BSA0301OC OC 0.00000% 10,186,245.46 0.00 0.00 Totals ~~425~~384,~~362~~316,~~919~~903.18 2,~~888~~504,~~408~~616.2582 1610,~~689~~453,~~575~~950.8313

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~278~~247,~~712~~925,~~019~~964.2167 159,~~169~~574,~~216~~790.5567 0.00 A-2 0.00 3632,~~433~~408,~~078~~742.6992 1,~~991~~258,~~170~~381.0641 0.00 A-IO 0.00 0.00 257,229.1617 0.00 M-1 0.00 30,867,000.00 5854,~~974~~454.1953 0.00 M-2 0.00 29,324,000.00 7872,~~752~~992.2532 0.00 B 0.00 23,151,000.00 6762,~~158~~289.0005 0.00 B-IO 0.00 0.00 1,~~955~~678,~~483~~429.8780 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 OC 0.00 10,186,245.46 0.00 0.00 Totals 0.00 ~~408~~373,~~673~~862,~~343~~953.3605 1912,~~577~~958,~~984~~566.0895 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 472,271,000.00 ~~293~~257,~~472~~171,~~157~~361.9869 0.00 149,~~760~~245,~~138~~397.7802 0.00 0.00 A-2 61,735,000.00 3833,~~362~~617,~~515~~296.7403 0.00 1,~~929~~208,~~437~~553.0511 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 30,867,000.00 30,867,000.00 0.00 0.00 0.00 0.00 M-2 29,324,000.00 29,324,000.00 0.00 0.00 0.00 0.00 B 23,151,000.00 23,151,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 OC 59.42 10,186,245.46 0.00 0.00 0.00 0.00 Totals 617,348,209.42 ~~425~~384,~~362~~316,~~919~~903.18 0.00 1610,~~689~~453,~~575~~950.8313 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 149,~~760~~245,~~138~~397.7802 ~~278~~247,~~712~~925,~~019~~964.2167 0.~~59015273~~52496546 149,~~760~~245,~~138~~397.7802 A-2 1,~~929~~208,~~437~~553.0511 3632,~~433~~408,~~078~~742.6992 0.~~59015273~~52496546 1,~~929~~208,~~437~~553.0511 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 30,867,000.00 1.00000000 0.00 M-2 0.00 29,324,000.00 1.00000000 0.00 B 0.00 23,151,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 OC 0.00 10,186,245.46 171,427.89397509 0.00 Totals 1610,~~689~~453,~~575~~950.8313 ~~408~~373,~~673~~862,~~343~~953.3605 0.~~66198190~~60559494 1610,~~689~~453,~~575~~950.8313

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 472,271,000.00 ~~621~~544.~~40626458~~54192972 0.00000000 3119.~~25353617~~57646567 0.00000000 A-2 61,735,000.00 ~~621~~544.~~40626452~~54192970 0.00000000 3119.~~25353608~~57646570 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 30,867,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 29,324,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 23,151,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 59.42 171427893.97509300 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 3119.~~25353617~~57646567 ~~590~~524.~~15272843~~96546405 0.~~59015273~~52496546 3119.~~25353617~~57646567 A-2 0.00000000 3119.~~25353608~~57646570 ~~590~~524.~~15272844~~96546400 0.~~59015273~~52496546 3119.~~25353608~~57646570 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 71171,427,893.97509300 171427.89397509 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 472,271,000.00 1.~~61875~~59000% ~~293~~257,~~472~~171,~~157~~361.9869 ~~409~~329,~~077~~393.7765 0.00 0.00 A-2 61,735,000.00 1.~~86875~~84000% 3833,~~362~~617,~~515~~296.7403 6149,~~733~~828.0130 0.00 0.00 A-IO 0.00 5.00000% 61,735,000.00 257,229.17 0.00 0.00 M-1 30,867,000.00 2.~~21875~~19000% 30,867,000.00 5854,~~974~~454.1953 0.00 0.00 M-2 29,324,000.00 3.~~11875~~09000% 29,324,000.00 7872,~~752~~992.2532 0.00 0.00 B 23,151,000.00 3.~~36875~~34000% 23,151,000.00 6762,~~158~~289.0005 0.00 0.00 B-IO 0.00 0.00000% ~~425~~384,~~362~~316,~~919~~903.18 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 OC 59.42 0.00000% 10,186,245.46 0.00 0.00 0.00 Totals 617,348,209.42 ~~932~~826,~~924~~187.3902 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~409~~329,~~077~~393.7765 0.00 ~~278~~247,~~712~~925,~~019~~964.2167 A-2 0.00 0.00 6149,~~733~~828.0130 0.00 3632,~~433~~408,~~078~~742.6992 A-IO 0.00 0.00 257,229.1617 0.00 61,735,000.00 M-1 0.00 0.00 5854,~~974~~454.1953 0.00 30,867,000.00 M-2 0.00 0.00 7872,~~752~~992.2532 0.00 29,324,000.00 B 0.00 0.00 6762,~~158~~289.0005 0.00 23,151,000.00 B-IO 0.00 0.00 1,~~955~~678,~~483~~429.8780 0.00 ~~408~~373,~~673~~862,~~343~~953.3505 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 10,186,245.46 Totals 0.00 0.00 2,~~888~~504,~~408~~616.2582 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 A-1 472,271,000.00 1.~~61875~~59000% ~~621~~544.~~40626458~~54192972 0.~~86619286~~69746745 0.00000000 0.00000000 A-2 61,735,000.00 1.~~86875~~84000% ~~621~~544.~~40626452~~54192970 0.~~99996777~~80713210 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666672 0.00000000 0.00000000 M-1 30,867,000.00 2.~~21875~~19000% 1000.00000000 1.~~91059027~~76416659 0.00000000 0.00000000 M-2 29,324,000.00 3.~~11875~~09000% 1000.00000000 2.~~68559030~~48916655 0.00000000 0.00000000 B 23,151,000.00 3.~~36875~~34000% 1000.00000000 2.~~90086821~~69055548 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~689~~622.~~01620299~~52857839 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 59.42 0.00000% 171427893.97509300 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 0.~~86619286~~69746745 0.00000000 ~~590~~524.~~15272843~~96546405 A-2 0.00000000 0.00000000 0.~~99996777~~80713210 0.00000000 ~~590~~524.~~15272844~~96546400 A-IO 0.00000000 0.00000000 4.~~16666656~~16666672 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~91059027~~76416659 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~68559030~~48916655 0.00000000 1000.00000000 B 0.00000000 0.00000000 2.~~90086821~~69055548 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 32.~~16755413~~71877325 0.00000000 ~~661~~605.~~98190440~~59494196 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 171427893.97509300 (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 1913,~~700~~227,~~933~~055.2821 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~596~~542,~~166~~409.7568 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(98,634.0058) Prepayment Penalties 0.00 Total Deposits 2013,~~297~~670,~~100~~830.0331 Withdrawals Reimbursement for Servicer Advances ~~555~~564,~~773~~918.0296 Payment of Service Fee ~~163~~147,~~342~~344.9340 Payment of Interest and Principal 1912,~~577~~958,~~984~~566.0895 Total Withdrawals (Pool Distribution Amount) 2013,~~297~~670,~~100~~830.0331 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~161~~145,~~570~~743.5908 Master Servicing Fee 1,~~772~~601.3432 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~163~~147,~~342~~344.9340

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 ~~185~~193 13 0 ~~186~~196 1011,~~541~~091,~~677~~961.5651 91333,~~965~~026.6435 0.00 1011,~~633~~424,~~643~~987.2086 30 Days ~~315~~266 1916 12 0 ~~335~~284 2218,~~896~~614,~~051~~053.0270 ~~930~~759,~~175~~209.0357 ~~174~~157,~~997~~003.4315 0.00 2419,~~001~~530,~~223~~266.4842 60 Days ~~131~~103 11 10 8 0 ~~152~~121 127,~~197~~321,~~449~~468.2337 ~~627~~445,~~050~~113.1977 ~~901~~750,~~522~~927.4604 0.00 138,~~726~~517,~~021~~509.8818 90 Days 4642 1217 1521 0 7380 42,~~184~~200,~~806~~097.5124 ~~846~~1,~~901~~117,551.5482 13,~~076~~244,~~255~~550.2289 0.00 6,~~107~~562,~~963~~199.2795 120 Days 2416 615 4927 10 8058 1,~~798~~546,~~179~~560.4790 ~~315~~732,~~957~~721.4154 43,~~859~~256,~~045~~060.4152 ~~53,707~~0.5100 75,~~026~~535,~~889~~342.8096 150 Days 10 12 2934 0 5156 ~~605~~1,~~331~~005,123.0762 ~~863~~856,~~347~~569.5901 32,~~180~~482,~~552~~793.9528 0.00 4,~~649~~344,~~231~~485.6191 180+ Days 1622 3252 6987 1932 ~~136~~193 12,~~582~~215,~~550~~166.4625 24,~~790~~462,~~315~~619.0944 67,~~733~~244,~~166~~552.2072 23,~~079~~211,~~552~~429.2900 1317,~~185~~133,~~584~~767.0441 Totals ~~542~~459 ~~277~~315 ~~174~~182 2032 ~~1,013~~988 4332,~~264~~902,~~367~~470.7608 1619,~~915~~465,~~424~~746.4166 17,~~017~~468,~~505~~913.3195 23,~~133~~211,~~259~~429.8000 7973,~~330~~048,~~557~~559.2869 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 3.~~288304~~671295% 0.~~017775~~057067% 0.000000% 3.~~306079~~728362% 2.~~571983~~957586% 0.~~022438~~088799% 0.000000% 23.~~594421~~046385% 30 Days 5.~~599005~~059920% 0.~~337718~~304356% 0.~~017775~~038045% 0.000000% 5.~~954497~~402321% 54.~~586231~~963294% 0.~~226946~~202437% 0.~~042696~~041864% 0.000000% 5.~~855874~~207595% 60 Days 21.~~328475~~959292% 0.~~195521~~190223% 0.~~177746~~152178% 0.000000% 2.~~701742~~301693% 21.~~975962~~952213% 0.~~152989~~118686% 0.~~219956~~200229% 0.000000% 32.~~348907~~271128% 90 Days 0.~~817632~~798935% 0.~~213295~~323378% 0.~~266619~~399467% 0.000000% 1.~~297547~~521780% 10.~~021019~~586639% 0.~~206629~~297987% 0.~~262587~~865134% 0.000000% 1.~~490235~~749760% 120 Days 0.~~426591~~304356% 0.~~106648~~285334% 0.~~870956~~513601% 0.~~017775~~000000% 1.~~421969~~103291% 0.~~438724~~412379% 0.~~077088~~195375% 10.~~185521~~868203% 0.~~013104~~000000% 1.~~714437~~475956% 150 Days 0.~~177746~~190223% 0.~~213295~~228267% 0.~~515464~~646757% 0.000000% 01.~~906506~~065246% 0.~~147690~~268008% 0.~~210642~~228398% 0.~~775999~~662018% 0.000000% 1.~~134330~~158424% 180+ Days 0.~~284394~~418490% 0.~~568788~~989157% 1.~~226449~~654936% 0.~~337718~~608712% 23.~~417348~~671295% 0.~~386114~~590657% 01.~~680788~~189923% 1.~~642773~~931704% 0.~~507374~~856303% 34.~~217049~~568587% Totals 98.~~633843~~731216% 45.~~923569~~992011% 3.~~092784~~462051% 0.~~355492~~608712% 18.~~005688~~793989% 108.~~555740~~773189% 45.~~127064~~190391% 4.~~151970~~657951% 0.~~520478~~856303% 19.~~355252~~477834%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~596~~542,~~166~~409.7568

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 8.~~609358~~588524% Weighted Average Net Coupon 8.~~153547~~133452% Weighted Average Pass-Through Rate 8.~~148547~~128452% Weighted Average Maturity(Stepdown Calculation ) ~~279~~276 Beginning Scheduled Collateral Loan Count 5,~~772~~372 Number Of Loans Paid In Full ~~146~~115 Ending Scheduled Collateral Loan Count 5,~~626~~257 Beginning Scheduled Collateral Balance ~~425~~384,~~362~~316,~~919~~903.18 Ending Scheduled Collateral Balance ~~408~~373,~~673~~862,~~343~~953.3505 Ending Actual Collateral Balance at 3029-~~Nov~~Feb-~~2003~~2004 ~~409~~375,~~865~~034,~~783~~308.9261 Monthly P &I Constant 3,~~919~~580,~~560~~040.4597 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 098,634.0058 Cumulative Realized Loss ~~120~~439,~~292~~183.2597 Ending Scheduled Balance for Premium Loans ~~408~~373,~~673~~862,~~343~~953.3505 Scheduled Principal ~~867~~828,~~809~~988.2393 Unscheduled Principal 159,~~821~~624,~~766~~961.6020 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 098,634.0058 Overcollateralized reduction Amount 0.00 Specified O/C Amount 10,186,245.46 Overcollateralized Amount 10,186,245.46 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 098,634.0058 Excess Cash Amount 1,~~955~~777,~~483~~064.8638

Miscellaneous Reporting Three month rolling average 0.~~078751%~~107053 Trigger Event NO Yield maintenance amount 0.00

Group Level Collateral Statement Group FIXED loans ARM loans Total Collateral Description Mixed Fixed Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 98.~~004365~~992663 7.~~226751~~183995 8.~~609358~~588524 Weighted Average Net Rate 8.~~543047~~531514 6.~~790217~~750044 8.~~153547~~133452 Weighted Average Maturity ~~264~~261 ~~328~~325 ~~279~~276 Beginning Loan Count 54,~~085~~732 ~~687~~640 5,~~772~~372 Loans Paid In Full ~~126~~102 2013 ~~146~~115 Ending Loan Count 4,~~959~~630 ~~667~~627 5,~~626~~257 Beginning Scheduled Balance ~~330~~298,~~842~~442,~~170~~985.7716 9485,~~520~~873,~~748~~918.4102 ~~425~~384,~~362~~316,~~919~~903.18 Ending scheduled Balance ~~317~~290,~~861~~091,~~051~~264.6202 9083,~~812~~771,~~291~~689.7303 ~~408~~373,~~673~~862,~~343~~953.3505 Record Date 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 Principal And Interest Constant 32,~~235~~957,~~235~~660.7572 ~~684~~622,~~324~~380.7025 3,~~919~~580,~~560~~040.4597 Scheduled Principal ~~752~~720,~~716~~706.1381 ~~115~~108,~~093~~282.1012 ~~867~~828,~~809~~988.2393 Unscheduled Principal 127,~~228~~631,~~403~~014.0233 31,~~593~~993,~~363~~946.5887 159,~~821~~624,~~766~~961.6020 Scheduled Interest 2,~~482~~236,~~519~~497.6266 ~~569~~514,~~231~~098.6013 32,~~051~~750,~~751~~595.2279 Servicing Fees ~~127~~114,~~185~~688.9890 3431,~~384~~054.6118 ~~161~~145,~~570~~743.5908 Master Servicing Fees 1,~~378~~243.5051 ~~393~~357.8481 1,~~772~~601.3432 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 2,~~353~~120,~~955~~565.1425 ~~534~~482,~~453~~686.1514 2,~~888~~603,~~408~~251.2939 Realized Loss Amount 073,948.0006 024,686.0052 098,634.0058 Cumulative Realized Loss ~~120~~362,~~292~~211.2510 076,972.0087 ~~120~~439,~~292~~183.2597 Percentage of Cumulative Losses 0.~~0253~~0762 0.~~0000~~0541 0.~~0195~~0711 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.~~538047~~526514 6.~~785217~~745044 8.~~148547~~128452

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2003-1