8-K 1 bsa03ac3_sep.txt SEPTEMBER 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): September 27, 2004 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2003-AC3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-06 54-2121818 Pooling and Servicing Agreement) (Commission 54-2121819 (State or other File Number) 54-2121820 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) 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 September 27, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2003-AC3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-AC3 Trust, relating to the September 27, 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-AC3 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: 9/23/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-AC3 Trust, relating to the September 27, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Asset~~Mortgage Pass-~~Backed~~Through Certificates Record Date: 28/2931/2004 Distribution Date: 39/2527/2004 BSA Series: 2003-~~AC4~~AC3 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 A-1 ~~07384YKF2~~07384YJH0 SEN 54.00000% ~~648~~115,~~458~~460,~~348~~322.8618 2384,~~701,909~~867.7974 244,~~056~~247,~~628~~936.8597 A-IO ~~07384YKG0~~07384YJJ6 IO 5.00000% 0.00 ~~359~~153,~~050~~291.0067 0.00 M-1 ~~07384YKH8~~07384YJK3 MEZ 54.~~15800~~40300% 388,~~758~~390,~~935~~765.1014 ~~166~~30,~~598~~787.8212 1308,~~437,886~~707.2128 M-2 ~~07384YKJ4~~07384YJL1 MEZ 24.~~89000~~11500% 306,~~559~~289,~~097~~516.9112 7123,~~143~~724.2858 1231,~~133,687~~399.1256 BAM-3 ~~07384YKK1~~07384YJY3 ~~SUB~~MEZ 4.~~14000~~65400% 161,~~419~~094,~~394~~685.0106 544,~~758~~245.6855 140,~~023,120~~274.9890 BBB-1 ~~07384YKS4~~07384YJM9 SUB 65.~~25000~~11500% 113,~~159~~020,~~339~~785.0006 5814,~~121~~163.5671 0111,138.0065 C ~~07384YKU9~~07384YKA3 SEN 0.00000% 01,226,438.00 0115,633.0060 0.00 P ~~07384YKT2~~07384YJZ0 SEN 0.00000% 100.00 199,~~835~~269.0768 0.00 R1R-1 ~~07384YKV7~~07384YKB1 RES 0.00000% 0.00 0.00 0.00 R2R-2 ~~07384YKW5~~07384YKC9 RES 0.00000% 0.00 0.00 0.00 R3R-3 ~~07384YKX3~~07384YKD7 RES 0.00000% 0.00 0.00 0.00 Totals ~~745~~135,~~355~~482,~~214~~611.8856 3735,~~431,417~~983.2065 274,~~651~~939,~~323~~457.1636

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~624~~111,~~401~~212,~~720~~385.0121 264,~~758~~632,~~538~~804.6471 0.00 A-IO 0.00 0.00 ~~359~~153,~~050~~291.0067 0.00 M-1 0.00 378,~~321~~082,~~048~~057.9086 1339,~~604,485~~494.0340 0.00 M-2 0.00 296,~~425~~058,~~410~~116.7956 1255,~~204,830~~124.4014 0.00 BAM-3 0.00 151,~~396~~054,~~273~~410.0315 144,~~077,879~~520.6645 0.00 BBB-1 0.00 112,~~159~~909,~~339~~646.0041 58125,~~121~~302.5636 0.00 C 0.00 01,226,438.00 0115,633.0060 0.00 P 0.00 100.00 199,~~835~~269.0768 0.00 R1R-1 0.00 0.00 0.00 0.00 R2R-2 0.00 0.00 0.00 0.00 R3R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~717~~130,~~703~~543,~~891~~154.7319 315,~~082~~675,~~740~~441.3601 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 ~~749~~210,~~696~~947,000.00 ~~648~~115,~~458~~460,~~348~~322.8618 0.00 244,~~056~~247,~~628~~936.8597 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 4415,~~810~~330,000.00 388,~~758~~390,~~935~~765.1014 0.00 1308,~~437,886~~707.2128 0.00 0.00 M-2 3511,~~330~~491,000.00 306,~~559~~289,~~097~~516.9112 0.00 1231,~~133,687~~399.1256 0.00 0.00 BAM-3 202,~~725~~000,000.00 161,~~419~~094,~~394~~685.0106 0.00 140,~~023,120~~274.9890 0.00 0.00 BBB-1 115,~~159~~519,~~339~~000.00 113,~~159~~020,~~339~~785.0006 0.00 0111,138.0065 0.00 0.00 C 0478.0038 01,226,438.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1R-1 0.00 0.00 0.00 0.00 0.00 0.00 R2R-2 0.00 0.00 0.00 0.00 0.00 0.00 R3R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals ~~861~~245,~~720~~287,~~439~~578.0038 ~~745~~135,~~355~~482,~~214~~611.8856 0.00 274,~~651~~939,~~323~~457.1636 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-1 244,~~056~~247,~~628~~936.8597 ~~624~~111,~~401~~212,~~720~~385.0121 0.~~83287322~~52720534 244,~~056~~247,~~628~~936.8597 A-IO 0.00 0.00 0.00000000 0.00 M-1 1308,~~437,886~~707.2128 378,~~321~~082,~~048~~057.9086 0.~~83287322~~52720534 1308,~~437,886~~707.2128 M-2 1231,~~133,687~~399.1256 296,~~425~~058,~~410~~116.7956 0.~~83287322~~52720534 1231,~~133,687~~399.1256 BAM-3 140,~~023,120~~274.9890 151,~~396~~054,~~273~~410.0315 0.~~74288410~~52720507 140,~~023,120~~274.9890 BBB-1 0111,138.0065 112,~~159~~909,~~339~~646.0041 10.~~00000000~~52720537 0111,138.0065 C 0.00 01,226,438.00 02,563.~~00000000~~73176136 0.00 P 0.00 100.00 1.00000000 0.00 R1R-1 0.00 0.00 0.00000000 0.00 R2R-2 0.00 0.00 0.00000000 0.00 R3R-3 0.00 0.00 0.00000000 0.00 Totals 274,~~651~~939,~~323~~457.1636 ~~717~~130,~~703~~543,~~891~~154.7319 0.~~83287324~~53220450 274,~~651~~939,~~323~~457.1636

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 ~~749~~210,~~696~~947,000.00 ~~864~~547.~~96172963~~34280260 0.00000000 3220.~~08851168~~13746093 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 4415,~~810~~330,000.00 ~~864~~547.~~96172952~~34280104 0.00000000 3220.~~08851172~~13746119 0.00000000 M-2 3511,~~330~~491,000.00 ~~864~~547.~~96172969~~34280045 0.00000000 3220.~~08851175~~13746062 0.00000000 BAM-3 202,~~725~~000,000.00 ~~792~~547.~~25061568~~34253000 0.00000000 4920.~~36651291~~13745000 0.00000000 BBB-1 115,~~159~~519,~~339~~000.00 ~~1000~~547.~~00000000~~34282660 0.00000000 020.~~00000000~~13746150 0.00000000 C 0478.0038 02563731.~~00000000~~76136126 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R1R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3R-3 0.00 0.00000000 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 3220.~~08851168~~13746093 ~~832~~527.~~87321796~~20534167 0.~~83287322~~52720534 3220.~~08851168~~13746093 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 3220.~~08851172~~13746119 ~~832~~527.~~87321803~~20533986 0.~~83287322~~52720534 3220.~~08851172~~13746119 M-2 0.00000000 3220.~~08851175~~13746062 ~~832~~527.~~87321795~~20533983 0.~~83287322~~52720534 3220.~~08851175~~13746062 BAM-3 0.00000000 4920.~~36651291~~13745000 ~~742~~527.~~88410277~~20507500 0.~~74288410~~52720507 4920.~~36651291~~13745000 BBB-1 0.00000000 020.~~00000000~~13746150 ~~1,000~~527.~~00000000~~20536510 10.~~00000000~~52720537 020.~~00000000~~13746150 C 0.00000000 0.00000000 02,563,731.~~00000000~~76136126 02563.~~00000000~~73176136 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3R-3 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 A-1 ~~749~~210,~~696~~947,000.00 54.00000% ~~648~~115,~~458~~460,~~348~~322.8618 2384,~~701,909~~867.7974 0.00 0.00 A-IO 0.00 5.00000% 8636,~~172~~790,000.00 ~~359~~153,~~050~~291.0067 0.00 0.00 M-1 4415,~~810~~330,000.00 54.~~15800~~40300% 388,~~758~~390,~~935~~765.1014 ~~166~~30,~~598~~787.8212 0.00 0.00 M-2 3511,~~330~~491,000.00 24.~~89000~~11500% 306,~~559~~289,~~097~~516.9112 7123,~~143~~724.2858 0.00 0.00 BAM-3 202,~~725~~000,000.00 4.~~14000~~65400% 161,~~419~~094,~~394~~685.0106 544,~~758~~245.6855 0.00 0.00 BBB-1 115,~~159~~519,~~339~~000.00 65.~~25000~~11500% 113,~~159~~020,~~339~~785.0006 5814,~~121~~163.5671 0.00 0.00 C 0478.0038 0.00000% ~~748~~1,~~954~~226,~~115~~438.0600 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals ~~861~~245,~~720~~287,~~439~~578.0038 3611,~~411,582~~080.1337 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 2384,~~701,909~~867.7974 0.00 ~~624~~111,~~401~~212,~~720~~385.0121 A-IO 0.00 0.00 ~~359~~153,~~050~~291.0067 0.00 8636,~~172~~790,000.00 M-1 0.00 0.00 ~~166~~30,~~598~~787.8212 0.00 378,~~321~~082,~~048~~057.9086 M-2 0.00 0.00 7123,~~143~~724.2858 0.00 296,~~425~~058,~~410~~116.7956 BAM-3 0.00 0.00 544,~~758~~245.6855 0.00 151,~~396~~054,~~273~~410.0315 BBB-1 0.00 0.00 5814,~~121~~163.5671 0.00 112,~~159~~909,~~339~~646.0041 C 0.00 0.00 0115,633.0060 0.00 ~~721~~1,~~811~~226,~~922~~438.0900 P 0.00 0.00 199,~~835~~269.0768 0.00 100.00 R1R-1 0.00 0.00 0.00 0.00 0.00 R2R-2 0.00 0.00 0.00 0.00 0.00 R3R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3735,~~431,417~~983.2065 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 ~~749~~210,~~696~~947,000.00 54.00000% ~~864~~547.~~96172963~~34280260 31.~~60400721~~82447601 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.~~16666667~~16666676 0.00000000 0.00000000 M-1 4415,~~810~~330,000.00 54.~~15800~~40300% ~~864~~547.~~96172952~~34280104 32.~~71789377~~00829224 0.00000000 0.00000000 M-2 3511,~~330~~491,000.00 24.~~89000~~11500% ~~864~~547.~~96172969~~34280045 2.~~01367903~~06462275 0.00000000 0.00000000 BAM-3 202,~~725~~000,000.00 4.~~14000~~65400% ~~792~~547.~~25061568~~34253000 2.~~64215585~~12277500 0.00000000 0.00000000 BBB-1 115,~~159~~519,~~339~~000.00 65.~~25000~~11500% ~~1000~~547.~~00000000~~34282660 52.~~20833358~~56635441 0.00000000 0.00000000 C 0478.0038 0.00000% ~~869~~2563731.~~13825870~~76136126 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3R-3 0.00 0.00000% 0.00000000 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 31.~~60400721~~82447601 0.00000000 ~~832~~527.~~87321796~~20534167 A-IO 0.00000000 0.00000000 4.~~16666667~~16666676 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 32.~~71789377~~00829224 0.00000000 ~~832~~527.~~87321803~~20533986 M-2 0.00000000 0.00000000 2.~~01367903~~06462275 0.00000000 ~~832~~527.~~87321795~~20533983 BAM-3 0.00000000 0.00000000 2.~~64215585~~12277500 0.00000000 ~~742~~527.~~88410277~~20507500 BBB-1 0.00000000 0.00000000 52.~~20833358~~56635441 0.00000000 ~~1000~~527.~~00000000~~20536510 C 0.00000000 0.00000000 0241719.~~00000000~~13541536 0.00000000 ~~837~~2563731.~~64057698~~76136126 P 0.00000000 0.00000000 ~~198350~~92696.~~70000000~~80000000 0.00000000 1000.00000000 R1R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3R-3 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 315,~~247~~704,~~849~~401.3183 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~180~~28,~~968~~645.9169 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 315,~~428~~733,~~818~~047.2252 Withdrawals Reimbursement for Servicer Advances ~~189~~27,~~854~~091.2149 Payment of Service Fee ~~156~~30,~~223~~515.6502 Payment of Interest and Principal 315,~~082~~675,~~740~~441.3601 Total Withdrawals (Pool Distribution Amount) 315,~~428~~733,~~818~~047.2252 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~156~~28,~~032~~225.1154 Master Servicing Fee 2,258.05 Miscellaneous Fee ~~191~~31.5443 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~156~~30,~~223~~515.6502

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance ~~Net WAC~~ Reserve Fund 45,~~999~~000.9800 ~~5,202~~0.9000 ~~5,202~~0.9000 45,~~999~~000.9700

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 64 0 0 64 ~~891~~850,~~098~~357.7096 0.00 0.00 ~~891~~850,~~098~~357.7096 30 Days 894 10 0 0 904 17550,~~816,289~~665.6385 ~~88,873~~0.7900 0.00 0.00 17550,~~905,163~~665.4285 60 Days 197 0 0 0 197 31,~~230~~650,~~457~~802.0791 0.00 0.00 0.00 31,~~230~~650,~~457~~802.0791 90 Days 72 01 0 0 73 1292,~~244,259~~952.7806 0115,665.0041 0.00 0.00 1408,~~244,259~~617.7847 120 Days 71 0 01 0 72 1458,~~700,300~~792.9686 0.00 0157,969.0046 0.00 1616,~~700,300~~762.9632 150 Days 42 0 10 0 52 1512,~~235,917~~748.5549 0.00 ~~57,469~~0.4000 0.00 1512,~~293,386~~748.9549 180+ Days 53 0 31 0 84 1536,~~251,913~~302.1060 0.00 ~~980~~42,~~474~~955.4476 0.00 2579,~~232,387~~258.5436 Totals ~~131~~19 75 42 0 ~~142~~ 26 4,~~479~~002,~~138~~264.0977 ~~979~~966,~~972~~023.4937 1200,~~037,943~~925.8422 0.00 285,~~497~~169,~~054~~213.4236 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.~~183824~~674536% 0.000000% 0.000000% 0.~~183824~~674536% 0.~~123323~~650601% 0.000000% 0.000000% 0.~~123323~~650601% 30 Days 20.~~726716~~674536% 0.~~030637~~000000% 0.000000% 0.000000% 20.~~757353~~674536% 20.~~465676~~421310% 0.~~012300~~000000% 0.000000% 0.000000% 20.~~477976~~421310% 60 Days 01.~~582108~~180438% 0.000000% 0.000000% 0.000000% 01.~~582108~~180438% 01.~~447077~~263015% 0.000000% 0.000000% 0.000000% 01.~~447077~~263015% 90 Days 0.~~214461~~337268% 0.~~000000~~168634% 0.000000% 0.000000% 0.~~214461~~505902% 0.~~172199~~224135% 0.~~000000~~088495% 0.000000% 0.000000% 0.~~172199~~312630% 120 Days 0.~~214461~~168634% 0.000000% 0.~~000000~~168634% 0.000000% 0.~~214461~~337268% 0.~~235312~~351018% 0.000000% 0.~~000000~~120861% 0.000000% 0.~~235312~~471879% 150 Days 0.~~122549~~337268% 0.000000% 0.~~030637~~000000% 0.000000% 0.~~153186~~337268% 0.~~171044~~392299% 0.000000% 0.~~007953~~000000% 0.000000% 0.~~178998~~392299% 180+ Days 0.~~153186~~505902% 0.000000% 0.~~091912~~168634% 0.000000% 0.~~245098~~674536% 0.~~173258~~410320% 0.000000% 0.~~135692~~032865% 0.000000% 0.~~308950~~443185% Totals 43.~~013480~~204047% 0.~~214461~~843170% 0.~~122549~~337268% 0.000000% 4.~~350490~~384486% 3.~~664567~~062098% 0.~~135623~~739096% 0.~~143646~~153726% 0.000000% 3.~~943835~~954920%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~180~~28,~~968~~645.9169

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~532207~~706948% Weighted Average Net Coupon 6.~~282207~~456948% Weighted Average Pass-Through Rate 6.~~281900~~436669% Weighted Average Maturity(Stepdown Calculation ) 325 Beginning Scheduled Collateral Loan Count ~~3,363~~616 Number Of Loans Paid In Full 9923 Ending Scheduled Collateral Loan Count ~~3,264~~593 Beginning Scheduled Collateral Balance ~~748~~135,~~954~~482,~~115~~611.0656 Ending Scheduled Collateral Balance ~~721~~130,~~811~~543,~~922~~154.0920 Ending Actual Collateral Balance at 2931-~~Feb~~Aug-2004 ~~722~~130,~~572~~703,~~136~~371.6552 Monthly P &I Constant 4920,~~952,544~~538.5601 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 ~~721~~130,~~811~~543,~~922~~154.0920 Scheduled Principal ~~875~~163,~~737~~309.7004 Unscheduled Principal 264,~~266~~776,~~455~~148.2732 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~509,130~~0.1900 Overcollateralized reduction Amount 0.00 Specified O/C Amount 41,~~308~~226,~~602~~438.00 Overcollateralized Amount 41,~~108~~226,~~130~~538.3600 Overcollateralized Deficiency Amount ~~200,471~~0.6400 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~509,130~~0.1900 Excess Cash Amount ~~509~~124,~~130~~903.1828

Miscellaneous Reporting Net WAC Rate Carryover Amount Class A-1 0.00 Net WAC Rate Carryover Amount Class BAB-1 0.00 Net WAC Rate Carryover Amount Class BBM-1 ~~5,202~~0.9000 Net WAC Rate Carryover Amount Class M1M-2 0.00 Net WAC Rate Carryover Amount Class M2M-3 0.00 Three month rolling average 0.~~012327~~022801%

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES INC 2003-AC4