8-K 1 bst01007_aug.txt AUGUST 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): August 25, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 90-0042382 Pooling and Servicing Agreement) (Commission 90-0031687 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the August 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 2001-7 Trust (Registrant) 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: 8/25/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the August 25, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 67/3031/2004 Distribution Date: 78/2625/2004 BST Series: 2001-7 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MGL0 SEN 4.~~37365~~32604% 4,~~474~~373,~~340~~051.3301 1615,~~307~~765.6800 ~~101~~25,~~289~~084.3223 II-A 07384MGP1 SEN 2.~~68860~~69181% 4443,~~643~~917,~~889~~535.9365 ~~100~~98,~~024~~514.5982 ~~726~~572,~~354~~334.2894 III-A 07384MGU0 SEN 3.~~95835~~91375% 2524,~~498~~035,~~250~~524.8691 8478,~~109~~390.1187 1826,~~462,725~~020.9526 IV-A 07384MGQ9 SEN 7.~~13809~~13826% 1,~~483~~481,~~904~~913.9569 8,~~826~~815.8723 12,~~991~~119.2656 B-1 07384MGR7 SUB 3.~~91048~~88399% 3,~~498~~432,~~557~~874.0098 11,~~400~~111.8705 6540,~~682~~343.0143 B-2 07384MGS5 SUB 3.~~91048~~88399% 2,~~058~~019,~~082~~443.0354 6,~~706~~536.7526 3823,~~638~~732.4967 B-3 07384MGT3 SUB 3.~~91048~~88399% 1,~~440~~413,~~615~~569.3216 4,~~694~~575.5924 2716,~~046~~612.1538 B-4 07384MGV8 SUB 3.~~91048~~88399% ~~720~~706,~~342~~819.7501 2,~~347~~287.4173 138,~~523~~306.7460 B-5 07384MGW6 SUB 3.~~91048~~88399% ~~617~~605,~~396~~805.5452 21,~~011~~960.9379 117,~~591~~119.0248 B-6 07384MGX4 SUB 3.~~91048~~88399% ~~926~~908,~~300~~909.0869 32,~~018~~941.5783 1710,~~390~~681.3958 R-I 07384MGM8 RES 6.~~36465~~36468% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36465~~36468% 0.00 0.00 0.00 Totals 8582,~~361~~895,~~679~~447.7916 ~~239~~230,~~448~~898.3782 21,~~466~~532,~~232~~355.6113

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 4,~~373~~347,~~051~~966.0178 ~~117~~40,~~597~~849.0023 0.00 II-A 0.00 43,~~917~~345,~~535~~200.6571 ~~826~~670,~~378~~849.8776 0.00 III-A 0.00 2423,~~035~~209,~~524~~504.9165 1904,~~546,835~~411.0613 0.00 IV-A 0.00 1,~~481~~479,~~913~~794.6913 10,~~818~~934.1379 0.00 B-1 0.00 3,~~432~~392,~~874~~531.9855 7751,~~082~~454.8848 0.00 B-2 0.00 21,~~019~~995,~~443~~710.5487 4530,~~345~~268.2493 0.00 B-3 0.00 1,~~413~~396,~~569~~956.1678 3121,~~740~~187.7462 0.00 B-4 0.00 ~~706~~698,~~819~~512.0141 1510,~~871~~594.1533 0.00 B-5 0.00 ~~605~~598,~~805~~686.5204 139,~~602~~080.9527 0.00 B-6 0.00 ~~908~~898,~~909~~228.6911 2013,~~408~~623.9641 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 8281,~~895~~363,~~447~~092.1603 21,~~705~~763,~~680~~253.9895 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 16,941,900.00 4,~~474~~373,~~340~~051.3301 20,~~759~~635.0488 804,~~530~~448.2835 0.00 0.00 II-A 59,270,500.00 4443,~~643~~917,~~889~~535.9365 0.00 ~~726~~572,~~354~~334.2894 0.00 0.00 III-A 162,837,100.00 2524,~~498~~035,~~250~~524.8691 5148,~~257~~986.8943 1777,~~411,468~~033.0682 0.00 0.00 IV-A 41,028,800.00 1,~~483~~481,~~904~~913.9569 1,~~875~~887.5876 ~~115~~231.6880 0.00 0.00 B-1 4,985,500.00 3,~~498~~432,~~557~~874.0098 5,~~441~~392.9561 6034,~~240~~950.0782 0.00 0.00 B-2 2,932,800.00 2,~~058~~019,~~082~~443.0354 3,~~201~~172.3129 3520,~~437~~560.1838 0.00 0.00 B-3 2,052,900.00 1,~~440~~413,~~615~~569.3216 2,~~240~~220.8554 2414,~~805~~391.3084 0.00 0.00 B-4 1,026,500.00 ~~720~~706,~~342~~819.7501 1,~~120~~110.4832 127,~~403~~196.2627 0.00 0.00 B-5 879,800.00 ~~617~~605,~~396~~805.5452 ~~960~~951.3564 106,~~630~~167.6783 0.00 0.00 B-6 1,319,993.00 ~~926~~908,~~300~~909.0869 1,~~440~~427.8478 159,~~949~~253.5480 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 293,275,893.00 8582,~~361~~895,~~679~~447.7916 8885,~~298~~785.2925 21,~~377~~446,~~934~~569.3285 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 ~~101~~25,~~289~~084.3223 4,~~373~~347,~~051~~966.0178 0.~~25812046~~25663986 ~~101~~25,~~289~~084.3223 II-A ~~726~~572,~~354~~334.2894 43,~~917~~345,~~535~~200.6571 0.~~74096786~~73131154 ~~726~~572,~~354~~334.2894 III-A 1826,~~462,725~~020.9526 2423,~~035~~209,~~524~~504.9165 0.~~14760472~~14253204 1826,~~462,725~~020.9526 IV-A 12,~~991~~119.2656 1,~~481~~479,~~913~~794.6913 0.~~03611887~~03606720 12,~~991~~119.2656 B-1 6540,~~682~~343.0143 3,~~432~~392,~~874~~531.9855 0.~~68857185~~68047970 6540,~~682~~343.0143 B-2 3823,~~638~~732.4967 21,~~019~~995,~~443~~710.5487 0.~~68857186~~68047970 3823,~~638~~732.4967 B-3 2716,~~046~~612.1538 1,~~413~~396,~~569~~956.1678 0.~~68857185~~68047970 2716,~~046~~612.1538 B-4 138,~~523~~306.7460 ~~706~~698,~~819~~512.0141 0.~~68857186~~68047970 138,~~523~~306.7460 B-5 117,~~591~~119.0248 ~~605~~598,~~805~~686.5204 0.~~68857186~~68047970 117,~~591~~119.0248 B-6 1710,~~390~~681.3958 ~~908~~898,~~909~~228.6911 0.~~68857160~~68047945 1710,~~390~~681.3958 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 21,~~466~~532,~~232~~355.6113 8281,~~895~~363,~~447~~092.1603 0.~~28265346~~27742850 21,~~466~~532,~~232~~355.6113

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~264~~258.~~09908747~~12045933 1.~~22530767~~21803812 40.~~75332047~~26256500 0.00000000 II-A 59,270,500.00 ~~753~~740.~~22276563~~96786175 0.00000000 129.~~25490387~~65632043 0.00000000 III-A 162,837,100.00 ~~156~~147.~~58747828~~60472220 0.~~31478017~~30083089 84.~~66797591~~77184757 0.00000000 IV-A 41,028,800.00 36.~~16739827~~11886504 0.~~04571374~~04601061 0.~~00281948~~00564969 0.00000000 B-1 4,985,500.00 ~~701~~688.~~74646475~~57185438 1.~~09155551~~08165881 127.~~08305486~~01049443 0.00000000 B-2 2,932,800.00 ~~701~~688.~~74646413~~57185625 1.~~09155415~~08165917 127.~~08305374~~01049509 0.00000000 B-3 2,052,900.00 ~~701~~688.~~74646597~~57185445 1.~~09155341~~08166009 127.~~08305324~~01049247 0.00000000 B-4 1,026,500.00 ~~701~~688.~~74646858~~57185582 1.~~09155382~~08165611 127.~~08305894~~01049196 0.00000000 B-5 879,800.00 ~~701~~688.~~74646511~~57185724 1.~~09155490~~08165492 127.~~08305297~~01049102 0.00000000 B-6 1,319,993.00 ~~701~~688.~~74620623~~57159849 1.~~09155124~~08165725 127.~~08304893~~01049172 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 51.~~97862813~~48060312 ~~258~~256.~~12045933~~63985621 0.~~25812046~~25663986 51.~~97862813~~48060312 II-A 0.00000000 129.~~25490387~~65632043 ~~740~~731.~~96786175~~31154132 0.~~74096786~~73131154 129.~~25490387~~65632043 III-A 0.00000000 85.~~98275608~~07267852 ~~147~~142.~~60472220~~53204368 0.~~14760472~~14253204 85.~~98275608~~07267852 IV-A 0.00000000 0.~~04853323~~05166030 36.~~11886504~~06720474 0.~~03611887~~03606720 0.~~04853323~~05166030 B-1 0.00000000 138.~~17460836~~09215324 ~~688~~680.~~57185438~~47970113 0.~~68857185~~68047970 138.~~17460836~~09215324 B-2 0.00000000 138.~~17460788~~09215426 ~~688~~680.~~57185625~~47970199 0.~~68857186~~68047970 138.~~17460788~~09215426 B-3 0.00000000 138.~~17460665~~09215256 ~~688~~680.~~57185445~~47970189 0.~~68857185~~68047970 138.~~17460665~~09215256 B-4 0.00000000 138.~~17461276~~09215782 ~~688~~680.~~57185582~~47969800 0.~~68857186~~68047970 138.~~17461276~~09215782 B-5 0.00000000 138.~~17460787~~09215731 ~~688~~680.~~57185724~~47969993 0.~~68857186~~68047970 138.~~17460787~~09215731 B-6 0.00000000 138.~~17460774~~09214897 ~~688~~680.~~57159849~~47944951 0.~~68857160~~68047945 138.~~17460774~~09214897 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 16,941,900.00 4.~~37365~~32604% 4,~~474~~373,~~340~~051.3301 1615,~~307~~765.6800 0.00 0.00 II-A 59,270,500.00 2.~~68860~~69181% 4443,~~643~~917,~~889~~535.9365 ~~100~~98,~~024~~514.6082 0.00 0.00 III-A 162,837,100.00 3.~~95835~~91375% 2524,~~498~~035,~~250~~524.8691 8478,~~109~~390.1287 0.00 0.00 IV-A 41,028,800.00 7.~~13809~~13826% 1,~~483~~481,~~904~~913.9569 8,~~826~~815.8723 0.00 0.00 B-1 4,985,500.00 3.~~91048~~88399% 3,~~498~~432,~~557~~874.0098 11,~~400~~111.8705 0.00 0.00 B-2 2,932,800.00 3.~~91048~~88399% 2,~~058~~019,~~082~~443.0354 6,~~706~~536.7526 0.00 0.00 B-3 2,052,900.00 3.~~91048~~88399% 1,~~440~~413,~~615~~569.3216 4,~~694~~575.5925 0.00 0.00 B-4 1,026,500.00 3.~~91048~~88399% ~~720~~706,~~342~~819.7501 2,~~347~~287.4173 0.00 0.00 B-5 879,800.00 3.~~91048~~88399% ~~617~~605,~~396~~805.5452 21,~~011~~960.9379 0.00 0.00 B-6 1,319,993.00 3.~~91048~~88399% ~~926~~908,~~300~~909.0869 32,~~018~~941.5783 0.00 0.00 R-I 50.00 6.~~36465~~36468% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36465~~36468% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~239~~230,~~448~~898.3983 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 0.00 0.00 1615,~~307~~765.6800 0.00 4,~~373~~347,~~051~~966.0178 II-A 0.00 0.00 ~~100~~98,~~024~~514.5982 0.00 43,~~917~~345,~~535~~200.6571 III-A 0.00 0.00 8478,~~109~~390.1187 0.00 2423,~~035~~209,~~524~~504.9165 IV-A 0.00 0.00 8,~~826~~815.8723 0.00 1,~~481~~479,~~913~~794.6913 B-1 0.00 0.00 11,~~400~~111.8705 0.00 3,~~432~~392,~~874~~531.9855 B-2 0.00 0.00 6,~~706~~536.7526 0.00 21,~~019~~995,~~443~~710.5487 B-3 0.00 0.00 4,~~694~~575.5924 0.00 1,~~413~~396,~~569~~956.1678 B-4 0.00 0.00 2,~~347~~287.4173 0.00 ~~706~~698,~~819~~512.0141 B-5 0.00 0.00 21,~~011~~960.9379 0.00 ~~605~~598,~~805~~686.5204 B-6 0.00 0.00 32,~~018~~941.5783 0.00 ~~908~~898,~~909~~228.6911 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~239~~230,~~448~~898.3782 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 16,941,900.00 4.~~37365~~32604% ~~264~~258.~~09908747~~12045933 0.~~96256500~~93053318 0.00000000 0.00000000 II-A 59,270,500.00 2.~~68860~~69181% ~~753~~740.~~22276563~~96786175 1.~~68759501~~66212230 0.00000000 0.00000000 III-A 162,837,100.00 3.~~95835~~91375% ~~156~~147.~~58747828~~60472220 0.~~51652308~~48140669 0.00000000 0.00000000 IV-A 41,028,800.00 7.~~13809~~13826% 36.~~16739827~~11886504 0.~~21513839~~21485469 0.00000000 0.00000000 B-1 4,985,500.00 3.~~91048~~88399% ~~701~~688.~~74646475~~57185438 2.~~28680574~~22867315 0.00000000 0.00000000 B-2 2,932,800.00 3.~~91048~~88399% ~~701~~688.~~74646413~~57185625 2.~~28680783~~22867567 0.00000000 0.00000000 B-3 2,052,900.00 3.~~91048~~88399% ~~701~~688.~~74646597~~57185445 2.~~28680890~~22867651 0.00000000 0.00000000 B-4 1,026,500.00 3.~~91048~~88399% ~~701~~688.~~74646858~~57185582 2.~~28680955~~22867024 0.00000000 0.00000000 B-5 879,800.00 3.~~91048~~88399% ~~701~~688.~~74646511~~57185724 2.~~28680382~~22867697 0.00000000 0.00000000 B-6 1,319,993.00 3.~~91048~~88399% ~~701~~688.~~74620623~~57159849 2.~~28680758~~22867091 0.00000000 0.00000000 R-I 50.00 6.~~36465~~36468% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36465~~36468% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.00000000 0.00000000 0.~~96256500~~93053318 0.00000000 ~~258~~256.~~12045933~~63985621 II-A 0.00000000 0.00000000 1.~~68759484~~66212230 0.00000000 ~~740~~731.~~96786175~~31154132 III-A 0.00000000 0.00000000 0.~~51652302~~48140669 0.00000000 ~~147~~142.~~60472220~~53204368 IV-A 0.00000000 0.00000000 0.~~21513839~~21485469 0.00000000 36.~~11886504~~06720474 B-1 0.00000000 0.00000000 2.~~28680574~~22867315 0.00000000 ~~688~~680.~~57185438~~47970113 B-2 0.00000000 0.00000000 2.~~28680783~~22867567 0.00000000 ~~688~~680.~~57185625~~47970199 B-3 0.00000000 0.00000000 2.~~28680890~~22867164 0.00000000 ~~688~~680.~~57185445~~47970189 B-4 0.00000000 0.00000000 2.~~28680955~~22867024 0.00000000 ~~688~~680.~~57185582~~47969800 B-5 0.00000000 0.00000000 2.~~28680382~~22867697 0.00000000 ~~688~~680.~~57185724~~47969993 B-6 0.00000000 0.00000000 2.~~28680758~~22867091 0.00000000 ~~688~~680.~~57159849~~47944951 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 21,~~736~~790,~~937~~360.8147 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 109,~~920~~832.3656 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 21,~~747~~800,~~858~~193.1703 Withdrawals Reimbursement for Servicer Advances 1510,~~387~~920.6236 Payment of Service Fee 26,~~789~~018.5772 Payment of Interest and Principal 21,~~705~~763,~~680~~253.9895 Total Withdrawals (Pool Distribution Amount) 21,~~747~~800,~~858~~193.1703 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 26,~~789~~018.5772 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 26,~~789~~018.5772

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 75,~~860~~784.9175 0.00 0.00 75,~~860~~784.9175 30 Days 3 0 0 0 3 1,~~385~~241,~~219~~997.7549 0.00 0.00 0.00 1,~~385~~241,~~219~~997.7549 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 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 150 Days 01 0 0 0 01 0462,078.0023 0.00 0.00 0.00 0462,078.0023 180+ Days 0 0 1 1 2 0.00 0.00 106,160.41 488,261.79 594,422.20 Totals 4 1 1 1 7 1,~~847~~704,~~297~~075.9872 75,~~860~~784.9175 106,160.41 488,261.79 2,~~517~~374,~~581~~282.0967 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.~~476190~~485437% 0.000000% 0.000000% 0.~~476190~~485437% 0.~~091421~~093052% 0.000000% 0.000000% 0.~~091421~~093052% 30 Days 1.~~428571~~456311% 0.000000% 0.000000% 0.000000% 1.~~428571~~456311% 1.~~669347~~524979% 0.000000% 0.000000% 0.000000% 1.~~669347~~524979% 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.~~476190~~000000% 0.000000% 0.000000% 0.000000% 0.~~476190~~000000% 0.~~556857~~000000% 0.000000% 0.000000% 0.000000% 0.~~556857~~000000% 150 Days 0.~~000000~~485437% 0.000000% 0.000000% 0.000000% 0.~~000000~~485437% 0.~~000000~~567360% 0.000000% 0.000000% 0.000000% 0.~~000000~~567360% 180+ Days 0.000000% 0.000000% 0.~~476190~~485437% 0.~~476190~~485437% 0.~~952381~~970874% 0.000000% 0.000000% 0.~~127935~~130348% 0.~~588411~~599509% 0.~~716346~~729857% Totals 1.~~904762~~941748% 0.~~476190~~485437% 0.~~476190~~485437% 0.~~476190~~485437% 3.~~333333~~398058% 2.~~226203~~092338% 0.~~091421~~093052% 0.~~127935~~130348% 0.~~588411~~599509% 32.~~033970~~915248%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 ~~326~~182,~~218~~996.6034 0.00 0.00 0.00 ~~326~~182,~~218~~996.6034 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 2 0 0 0 2 ~~326~~182,~~218~~996.6034 0.00 0.00 0.00 ~~326~~182,~~218~~996.6034 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 6.250000% 0.000000% 0.000000% 0.000000% 6.250000% 63.~~598700~~724061% 0.000000% 0.000000% 0.000000% 63.~~598700~~724061% 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 6.250000% 0.000000% 0.000000% 0.000000% 6.250000% 63.~~598700~~724061% 0.000000% 0.000000% 0.000000% 63.~~598700~~724061% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 0 0 0 1 1,059,001.15 0.00 0.00 0.00 1,059,001.15 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 1 0 0 0 1 1,059,001.15 0.00 0.00 0.00 1,059,001.15 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~030928~~052632% 0.000000% 0.000000% 0.000000% 1.~~030928~~052632% 2.~~281152~~310427% 0.000000% 0.000000% 0.000000% 2.~~281152~~310427% 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 1.~~030928~~052632% 0.000000% 0.000000% 0.000000% 1.~~030928~~052632% 2.~~281152~~310427% 0.000000% 0.000000% 0.000000% 2.~~281152~~310427% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 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 10 0 0 0 10 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 150 Days 01 0 0 0 01 0462,078.0023 0.00 0.00 0.00 0462,078.0023 180 Days 0 0 0 1 1 0.00 0.00 0.00 488,261.79 488,261.79 Totals 1 0 0 1 2 462,078.23 0.00 0.00 488,261.79 950,340.02 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 10.~~388889~~000000% 0.000000% 0.000000% 0.000000% 10.~~388889~~000000% 10.~~575435~~000000% 0.000000% 0.000000% 0.000000% 10.~~575435~~000000% 150 Days 01.~~000000~~428571% 0.000000% 0.000000% 0.000000% 01.~~000000~~428571% 01.~~000000~~626172% 0.000000% 0.000000% 0.000000% 01.~~000000~~626172% 180 Days 0.000000% 0.000000% 0.000000% 1.~~388889~~428571% 1.~~388889~~428571% 0.000000% 0.000000% 0.000000% 1.~~664706~~718318% 1.~~664706~~718318% Totals 1.~~388889~~428571% 0.000000% 0.000000% 1.~~388889~~428571% 2.~~777778~~857143% 1.~~575435~~626172% 0.000000% 0.000000% 1.~~664706~~718318% 3.~~240141~~344490% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 75,~~860~~784.9175 0.00 0.00 75,~~860~~784.9175 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 1 0 1 0.00 0.00 106,160.41 0.00 106,160.41 Totals 0 1 1 0 2 0.00 75,~~860~~784.9175 106,160.41 0.00 ~~182~~181,~~021~~945.3216 0-29 Days 11.111111% 0.000000% 0.000000% 11.111111% 3.~~324435~~325540% 0.000000% 0.000000% 3.~~324435~~325540% 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% 11.111111% 0.000000% 11.111111% 0.000000% 0.000000% 4.~~652242~~658466% 0.000000% 4.~~652242~~658466% Totals 0.000000% 11.111111% 11.111111% 0.000000% 22.222222% 0.000000% 3.~~324435~~325540% 4.~~652242~~658466% 0.000000% 7.~~976677~~984006%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 109,~~920~~832.3656

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 7877,~~522~~015,~~396~~125.1525 94.~~72461859~~65609445% 5.~~275381~~343906% 0.000000% Class 2A 217,063,493.00 74.01341132% 3433,~~604~~669,~~860~~924.5054 41.~~74518829~~38230701% 5253.~~979430~~273787% ~~483~~482.~~278273~~652344% Class 3A 54,226,393.00 18.48989102% 10,~~569~~460,~~335~~419.5989 12.~~75020035~~85646800% 28.~~994988~~525839% ~~264~~258.~~492231~~439726% Class R-I 13,197,543.00 4.50004358% 98,~~087~~980,~~421~~625.9076 1011.~~96251026~~03771444% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 98,~~087~~980,~~421~~625.9076 1011.~~96251026~~03771444% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 5,~~654~~588,~~546~~094.9221 6.~~82129974~~86809470% 4.~~141211~~169620% 37.776115% Class B-2 5,279,193.00 1.80007738% 3,~~635~~592,~~103~~383.3834 4.~~38516650~~41524929% 2.~~436133~~452845% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~221~~195,~~534~~426.2256 2.~~67992308~~69830768% 1.~~705243~~716942% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~514~~496,~~715~~914.2115 1.~~82725983~~83979506% 0.~~852663~~858513% 7.777993% Class B-5 1,319,993.00 0.45008575% ~~908~~898,~~909~~228.6911 1.~~09645309~~10397490% 0.~~730807~~735820% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~096453~~103975% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 3.~~742728~~719156% Weighted Average Net Coupon 3.~~366125~~342507% Weighted Average Pass-Through Rate 3.~~366125~~342507% Weighted Average Maturity(Stepdown Calculation ) ~~322~~321 Beginning Scheduled Collateral Loan Count ~~217~~210 Number Of Loans Paid In Full 74 Ending Scheduled Collateral Loan Count ~~210~~206 Beginning Scheduled Collateral Balance 8582,~~361~~895,~~679~~447.7716 Ending Scheduled Collateral Balance 8281,~~895~~363,~~447~~092.1604 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2004 8281,~~979~~443,~~756~~598.0226 Monthly P &I Constant ~~354~~342,~~536~~702.2481 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 21,~~501~~627,~~629~~044.0792 Ending Scheduled Balance for Premium Loans 8281,~~895~~363,~~447~~092.1604 Scheduled Principal 8885,~~298~~785.3026 Unscheduled Principal 21,~~377~~446,~~934~~569.3186

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 4.~~748654~~701041 3.~~063599~~066813 4.~~333348~~288750 Weighted Average Net Rate 4.~~373655~~326041 2.~~688599~~691813 3.~~958347~~913750 Weighted Average Maturity ~~255~~254 ~~267~~266 ~~322~~321 Beginning Loan Count 3332 9997 7672 Loans Paid In Full 10 2 42 Ending Loan Count 32 9795 7270 Beginning Scheduled Balance 54,~~030~~921,~~243~~665.6311 4746,~~170~~423,~~294~~953.51 3029,~~880~~272,~~397~~106.0082 Ending scheduled Balance 4,~~921~~893,~~665~~729.1148 4645,~~423~~835,~~953~~739.5181 2928,~~272~~359,~~106~~083.8241 Record Date 0607/3031/2004 0607/3031/2004 0607/3031/2004 Principal And Interest Constant 4342,~~243~~505.9351 ~~120~~118,~~425~~644.7265 ~~173~~164,~~590~~276.2733 Scheduled Principal 23,~~338~~224.1972 0.00 6259,~~077~~659.3603 Unscheduled Principal 854,~~240~~710.3391 ~~746~~588,~~341~~213.0070 1853,~~546,212~~364.8238 Scheduled Interest 19,~~905~~280.7479 ~~120~~118,~~425~~644.7265 ~~111~~104,~~512~~617.9130 Servicing Fees 1,~~571~~538.9502 14,~~740~~507.7249 9,~~650~~147.1354 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 1817,~~333~~742.7977 ~~105~~104,~~685~~137.0016 ~~101~~95,~~862~~469.7876 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.~~373654~~326041 2.~~688599~~691813 3.~~958348~~913750

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~573090~~573257 3.~~742728~~719156 Weighted Average Net Rate 7.~~138090~~138259 3.~~366125~~342507 Weighted Average Maturity ~~322~~321 ~~322~~321 Beginning Loan Count 9 ~~217~~210 Loans Paid In Full 0 74 Ending Loan Count 9 ~~210~~206 Beginning Scheduled Balance 2,~~280~~277,~~744~~721.6372 8582,~~361~~895,~~679~~447.7716 Ending scheduled Balance 2,~~277~~274,~~721~~539.7234 8281,~~895~~363,~~447~~092.1604 Record Date 0607/3031/2004 0607/3031/2004 Principal And Interest Constant 17,276.32 ~~354~~342,~~536~~702.2481 Scheduled Principal 2,~~882~~901.7551 8885,~~298~~785.3026 Unscheduled Principal ~~140~~280.1687 21,~~377~~446,~~934~~569.3186 Scheduled Interest 14,~~393~~374.5781 ~~266~~256,~~237~~917.9455 Servicing Fees ~~826~~825.7767 26,~~789~~018.5772 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 13,~~566~~549.8014 ~~239~~230,~~448~~898.3783 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~138090~~138257 3.~~366125~~342507

Miscellaneous Reporting Group Group I Senior Percentage Group I 88.~~948780~~853079% Senior Prep. Percentage Group I 94.~~474390~~426540% Subordinate Percentage Group I 11.~~051220~~146921% Subordinate Prep. Percentage Group I 5.~~525610~~573460% Group Group II Senior Percentage Group II 94.~~644077~~601025% Senior Prep. Percentage Group II 97.~~322039~~300512% Subordinate Percentage Group II 5.~~355923~~398975% Subordinate Prep. Percentage Group II 2.~~677961~~699488% Group Group III Senior Percentage Group III 82.~~570994~~110676% Senior Prep. Percentage Group III 91.~~285497~~055338% Subordinate Percentage Group III 17.~~429006~~889324% Subordinate Prep. Percentage Group III 8.~~714503~~944662%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 65.~~062302~~061227% Senior Prep. Percentage Group IV 82.~~531151~~530613% Subordinate Percentage Group IV 34.~~937698~~938773% Subordinate Prep. Percentage Group IV 17.~~468849~~469387%

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