8-K 1 bsa03sd2_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 2003-SD2 (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-11 54-2132830 Pooling and Servicing Agreement) (Commission 54-2132831 (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 September 27, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2003-SD2 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-SD2 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-SD2 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: 9/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-SD2 Trust, relating to the September 27, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset Backed Certificates Record Date: 78/31/2004 Distribution Date: 89/2527/2004 BSA Series: 2003-SD2 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 07384YLH7 SEN 6.~~07694~~08397% 3231,~~359~~449,~~972~~465.6124 ~~163~~159,~~874~~123.7029 ~~910~~1,~~507~~688,404.3759 II-A 07384YLJ3 SEN 5.~~08948~~06672% 6866,~~817~~367,~~122~~203.8895 ~~291~~279,~~869~~649.3560 23,~~449~~870,~~918~~297.9363 III-A 07384YLK0 SEN 4.~~73878~~75018% 2019,~~832~~436,~~799~~596.3175 8276,~~268~~782.4087 1219,~~396,202~~813.5669 B-1 07384YLL8 SUB 5.~~28344~~27262% 7,~~800~~789,~~461~~289.8381 34,~~344~~155.4228 11,~~172~~223.0367 B-2 07384YLM6 SUB 5.~~28344~~27262% 6,~~466~~457,~~264~~003.5741 28,~~470~~313.1233 9,~~261~~303.1596 B-3 07384YLN4 SUB 5.~~28344~~27262% 5,~~131~~124,~~771~~421.0318 22,~~594~~470.5209 7,~~349~~383.8683 B-4 07384YMH6 SUB 5.~~28344~~27262% 3,~~797~~792,~~573~~134.7778 16,~~720~~628.2214 5,~~438~~464.9813 B-5 07384YMJ2 SUB 5.~~28344~~27262% 2,~~565~~562,~~984~~309.2720 11,~~297~~235.7048 3,~~675~~692.0706 B-6 07384YMK9 SUB 5.~~28344~~27262% 6,~~363~~311,~~624~~854.2176 2827,~~018~~676.2187 9,~~114~~094.1582 R-I 07384YLP9 RES 0.00000% 0.00 0.00 0.00 R-II 07384YLQ7 RES 0.00000% 0.00 0.01 0.00 Totals ~~154~~149,~~135~~290,~~574~~279.4808 ~~679~~656,~~457~~034.6596 45,~~802~~824,~~640~~678.1038

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 3129,~~449~~761,~~465~~060.2464 1,~~074~~847,~~382~~527.0788 0.00 II-A 0.00 6662,~~367~~496,~~203~~906.9531 24,~~741~~149,~~788~~947.2823 0.00 III-A 0.00 19,~~436~~216,~~596~~783.7505 1296,~~478,470~~596.9656 0.00 B-1 0.00 7,~~789~~778,~~289~~066.8114 45,~~516~~378.4595 0.00 B-2 0.00 6,~~457~~447,~~003~~699.4145 37,~~731~~617.2729 0.00 B-3 0.00 5,~~124~~117,~~421~~037.1834 29,~~944~~853.3892 0.00 B-4 0.00 3,~~792~~786,~~134~~670.7866 22,~~159~~092.2027 0.00 B-5 0.00 2,~~562~~558,~~309~~617.2014 14,~~972~~927.7754 0.00 B-6 4217,~~655~~390.3052 6,~~311~~285,~~854~~369.7642 3736,~~132~~771.3669 4260,~~655~~045.3082 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.01 0.00 Totals 4217,~~655~~390.3052 ~~149~~143,~~290~~448,~~279~~210.0815 56,~~482~~480,~~097~~713.7534 4260,~~655~~045.3082 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 44,326,300.00 3231,~~359~~449,~~972~~465.6124 4645,~~752~~479.9265 ~~863~~1,~~754~~642,924.4594 0.00 0.00 II-A 102,857,300.00 6866,~~817~~367,~~122~~203.8895 7472,~~948~~709.3080 23,~~374~~797,~~970~~587.6383 0.00 0.00 III-A 28,146,100.00 2019,~~832~~436,~~799~~596.3175 5552,~~931~~779.8624 1167,~~340,270~~034.7045 0.00 0.00 B-1 7,898,700.00 7,~~800~~789,~~461~~289.8381 11,~~172~~223.0367 0.00 0.00 0.00 B-2 6,547,700.00 6,~~466~~457,~~264~~003.5741 9,~~261~~303.1596 0.00 0.00 0.00 B-3 5,196,400.00 5,~~131~~124,~~771~~421.0318 7,~~349~~383.8683 0.00 0.00 0.00 B-4 3,845,400.00 3,~~797~~792,~~573~~134.7778 5,~~438~~464.9813 0.00 0.00 0.00 B-5 2,598,300.00 2,~~565~~562,~~984~~309.2720 3,~~675~~692.0706 0.00 0.00 0.00 B-6 6,443,767.00 6,~~363~~311,~~624~~854.2176 9,~~114~~094.1582 0.00 0.00 4217,~~655~~390.3052 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 207,860,067.00 ~~154~~149,~~135~~290,~~574~~279.4808 ~~223~~217,~~644~~131.3216 45,~~578~~607,~~995~~547.7822 0.00 4217,~~655~~390.3052 (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 ~~910~~1,~~507~~688,404.3759 3129,~~449~~761,~~465~~060.2464 0.~~70949899~~67140864 ~~910~~1,~~507~~688,404.3759 II-A 23,~~449~~870,~~918~~297.9363 6662,~~367~~496,~~203~~906.9531 0.~~64523572~~60760788 23,~~449~~870,~~918~~297.9363 III-A 1219,~~396,202~~813.5669 19,~~436~~216,~~596~~783.7505 0.~~69056092~~68275118 1219,~~396,202~~813.5669 B-1 11,~~172~~223.0367 7,~~789~~778,~~289~~066.8114 0.~~98614833~~98472738 11,~~172~~223.0367 B-2 9,~~261~~303.1596 6,~~457~~447,~~003~~699.4145 0.~~98614833~~98472738 9,~~261~~303.1596 B-3 7,~~349~~383.8683 5,~~124~~117,~~421~~037.1834 0.~~98614833~~98472738 7,~~349~~383.8683 B-4 5,~~438~~464.9813 3,~~792~~786,~~134~~670.7866 0.~~98614833~~98472738 5,~~438~~464.9813 B-5 3,~~675~~692.0706 2,~~562~~558,~~309~~617.2014 0.~~98614833~~98472738 3,~~675~~692.0706 B-6 5126,~~769~~485.4534 6,~~311~~285,~~854~~369.7642 0.~~97952871~~97541848 9,~~114~~094.1582 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 45,~~845~~842,~~295~~068.4090 ~~149~~143,~~290~~448,~~279~~210.0815 0.~~71822492~~69011914 45,~~802~~824,~~640~~678.1038

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 44,326,300.00 ~~730~~709.~~04001259~~49899360 1.~~05474447~~02601954 1937.~~48627451~~06433742 0.00000000 II-A 102,857,300.00 ~~669~~645.~~05433917~~23571929 0.~~72866291~~70689975 2336.~~08995696~~92093638 0.00000000 III-A 28,146,100.00 ~~740~~690.~~16646392~~56092141 1.~~98719752~~87518839 475.~~61834499~~93455044 0.00000000 B-1 7,898,700.00 ~~987~~986.~~56274197~~14832947 1.~~41441376~~42095155 0.00000000 0.00000000 B-2 6,547,700.00 ~~987~~986.~~56274264~~14832842 1.~~41441269~~42095087 0.00000000 0.00000000 B-3 5,196,400.00 ~~987~~986.~~56274151~~14832961 1.~~41441382~~42095104 0.00000000 0.00000000 B-4 3,845,400.00 ~~987~~986.~~56274250~~14832787 1.~~41441202~~42095231 0.00000000 0.00000000 B-5 2,598,300.00 ~~987~~986.~~56274102~~14832775 1.~~41441327~~42095216 0.00000000 0.00000000 B-6 6,443,767.00 ~~987~~979.~~56274241~~52870735 1.~~41441334~~41141354 0.00000000 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 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 0.00000000 2038.~~54101899~~09035697 ~~709~~671.~~49899360~~40863641 0.~~70949899~~67140864 2038.~~54101899~~09035697 II-A 0.00000000 2337.~~81861987~~62783614 ~~645~~607.~~23571929~~60788306 0.~~64523572~~60760788 2337.~~81861987~~62783614 III-A 0.00000000 497.~~60554251~~80973883 ~~690~~682.~~56092141~~75118222 0.~~69056092~~68275118 497.~~60554251~~80973883 B-1 0.00000000 1.~~41441376~~42095155 ~~986~~984.~~14832947~~72737792 0.~~98614833~~98472738 1.~~41441376~~42095155 B-2 0.00000000 1.~~41441269~~42095087 ~~986~~984.~~14832842~~72737755 0.~~98614833~~98472738 1.~~41441269~~42095087 B-3 0.00000000 1.~~41441382~~42095104 ~~986~~984.~~14832961~~72737665 0.~~98614833~~98472738 1.~~41441382~~42095104 B-4 0.00000000 1.~~41441202~~42095231 ~~986~~984.~~14832787~~72737817 0.~~98614833~~98472738 1.~~41441202~~42095231 B-5 0.00000000 1.~~41441327~~42095216 ~~986~~984.~~14832775~~72737559 0.~~98614833~~98472738 1.~~41441327~~42095216 B-6 62.~~61962172~~69881267 84.~~03403506~~11022621 ~~979~~975.~~52870735~~41848115 0.~~97952871~~97541848 1.~~41441334~~41141354 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 44,326,300.00 6.~~07694~~08397% 3231,~~359~~449,~~972~~465.6124 ~~163~~159,~~874~~447.6990 0.00 0.00 II-A 102,857,300.00 5.~~08948~~06672% 6866,~~817~~367,~~122~~203.8895 ~~291~~280,~~869~~220.3509 0.00 0.00 III-A 28,146,100.00 4.~~73878~~75018% 2019,~~832~~436,~~799~~596.3175 8276,~~268~~939.4051 0.00 0.00 B-1 7,898,700.00 5.~~28344~~27262% 7,~~800~~789,~~461~~289.8381 34,~~344~~224.4296 0.00 0.00 B-2 6,547,700.00 5.~~28344~~27262% 6,~~466~~457,~~264~~003.5741 28,~~470~~371.1209 0.00 0.00 B-3 5,196,400.00 5.~~28344~~27262% 5,~~131~~124,~~771~~421.0318 22,~~594~~515.5293 0.00 0.00 B-4 3,845,400.00 5.~~28344~~27262% 3,~~797~~792,~~573~~134.7778 16,~~720~~662.2206 0.00 0.00 B-5 2,598,300.00 5.~~28344~~27262% 2,~~565~~562,~~984~~309.2720 11,~~297~~258.7040 0.00 0.00 B-6 6,443,767.00 5.~~28344~~27262% 6,~~363~~311,~~624~~854.2176 2827,~~018~~733.2133 0.00 0.00 R-I 50.00 0.00000% 0.00 0.00 0.00 0.00 R-II 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 207,860,067.00 ~~679~~657,~~457~~373.6327 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 0324.0061 0.00 ~~163~~159,~~874~~123.7029 0.00 3129,~~449~~761,~~465~~060.2464 II-A (0570.~~01)~~48 0.00 ~~291~~279,~~869~~649.3560 0.00 6662,~~367~~496,~~203~~906.9531 III-A 0156.0064 0.00 8276,~~268~~782.4087 0.00 19,~~436~~216,~~596~~783.7505 B-1 069.0068 0.00 34,~~344~~155.4228 0.00 7,~~789~~778,~~289~~066.8114 B-2 057.0076 0.00 28,~~470~~313.1233 0.00 6,~~457~~447,~~003~~699.4145 B-3 045.0084 0.00 22,~~594~~470.5209 0.00 5,~~124~~117,~~421~~037.1834 B-4 033.0092 0.00 16,~~720~~628.2214 0.00 3,~~792~~786,~~134~~670.7866 B-5 022.0092 0.00 11,~~297~~235.7048 0.00 2,~~562~~558,~~309~~617.2014 B-6 056.0046 0.00 2827,~~018~~676.2187 0.00 6,~~311~~285,~~854~~369.7642 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.01 0.00 0.00 Totals (01,338.~~01)~~31 0.00 ~~679~~656,~~457~~034.6596 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 44,326,300.00 6.~~07694~~08397% ~~730~~709.~~04001259~~49899360 3.~~69700810~~59713985 0.00000000 0.00000000 II-A 102,857,300.00 5.~~08948~~06672% ~~669~~645.~~05433917~~23571929 2.~~83761435~~72435782 0.00000000 0.00000000 III-A 28,146,100.00 4.~~73878~~75018% ~~740~~690.~~16646392~~56092141 2.~~92290584~~73357623 0.00000000 0.00000000 B-1 7,898,700.00 5.~~28344~~27262% ~~987~~986.~~56274197~~14832947 4.~~34811045~~33298644 0.00000000 0.00000000 B-2 6,547,700.00 5.~~28344~~27262% ~~987~~986.~~56274264~~14832842 4.~~34811002~~33298563 0.00000000 0.00000000 B-3 5,196,400.00 5.~~28344~~27262% ~~987~~986.~~56274151~~14832961 4.~~34811023~~33298630 0.00000000 0.00000000 B-4 3,845,400.00 5.~~28344~~27262% ~~987~~986.~~56274250~~14832787 4.~~34810943~~33298487 0.00000000 0.00000000 B-5 2,598,300.00 5.~~28344~~27262% ~~987~~986.~~56274102~~14832775 4.~~34811223~~33298695 0.00000000 0.00000000 B-6 6,443,767.00 5.~~28344~~27262% ~~987~~979.~~56274241~~52870735 4.~~34811035~~30390019 0.00000000 0.00000000 R-I 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% 0.00000000 0.00000000 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 0.~~00000000~~00732319 0.00000000 3.~~69700832~~58981666 0.00000000 ~~709~~671.~~49899360~~40863641 II-A (0.~~00000010)~~00554632 0.00000000 2.~~83761435~~71881140 0.00000000 ~~645~~607.~~23571929~~60788306 III-A 0.~~00000000~~00556525 0.00000000 2.~~92290584~~72801099 0.00000000 ~~690~~682.~~56092141~~75118222 B-1 0.~~00000000~~00882170 0.00000000 4.~~34811045~~32416474 0.00000000 ~~986~~984.~~14832947~~72737792 B-2 0.~~00000000~~00882142 0.00000000 4.~~34811002~~32416421 0.00000000 ~~986~~984.~~14832842~~72737755 B-3 0.~~00000000~~00882149 0.00000000 4.~~34811023~~32416481 0.00000000 ~~986~~984.~~14832961~~72737665 B-4 0.~~00000000~~00882093 0.00000000 4.~~34810943~~32416394 0.00000000 ~~986~~984.~~14832787~~72737817 B-5 0.~~00000000~~00882115 0.00000000 4.~~34811223~~32416580 0.00000000 ~~986~~984.~~14832775~~72737559 B-6 0.~~00000000~~00876196 0.00000000 4.~~34811035~~29513823 0.00000000 ~~979~~975.~~52870735~~41848115 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.20000000 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 56,~~563~~548,~~701~~582.2032 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~121~~116,~~892~~079.3795 Realized Loss (Gains, Subsequent Expenses & Recoveries) (4217,~~655~~390.3052) Prepayment Penalties 0.00 Total Deposits 56,~~642~~647,~~938~~271.2775 Withdrawals Reimbursement for Servicer Advances ~~114~~121,~~609~~892.4037 Payment of Service Fee 4644,~~231~~666.1103 Payment of Interest and Principal 56,~~482~~480,~~097~~713.7635 Total Withdrawals (Pool Distribution Amount) 56,~~642~~647,~~938~~271.2775 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 01,338.0031 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall (01,338.~~01)~~31

SERVICING FEES Gross Servicing Fee 4443,~~946~~421.6495 Master Servicing Fee 1,~~284~~244.4708 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 4644,~~231~~666.1103

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 1513 1 0 1614 2,~~745~~445,~~072~~832.1868 92,~~594~~543.5052 0.00 2,~~837~~538,~~666~~376.6820 30 Days 3826 1 32 0 4229 53,~~368~~228,~~311~~115.0597 ~~150~~49,~~065~~231.7045 ~~323~~132,~~251~~419.4466 0.00 53,~~841~~409,~~628~~767.1908 60 Days 1622 1 2 3 0 1927 12,~~791~~788,~~482~~558.3183 ~~102~~378,~~478~~635.4018 ~~507~~477,~~929~~502.9143 0.00 23,~~401~~644,~~890~~696.6244 90 Days 57 12 14 0 713 ~~626~~908,~~782~~792.1186 ~~194~~296,~~651~~885.2561 38850,~~084~~788.1706 0.00 ~~859~~2,~~517~~056,466.53 120 Days 42 30 74 0 146 1834,~~053,490~~848.4935 ~~243,814~~0.0200 1453,~~166,553~~574.7771 0.00 21,~~463~~288,~~858~~423.2806 150 Days 4 1 25 7 0 10 ~~112~~437,~~863~~401.3291 ~~311~~83,~~882~~700.7315 ~~851~~755,~~751~~050.9893 0.00 1,276,~~498~~152.0399 180+ Days 63 89 17 58 3637 ~~583~~216,~~435~~511.5470 2894,~~262,043~~987.5636 13,~~543~~217,~~618~~880.9773 ~~393~~648,~~565~~204.2917 4,~~782~~977,~~663~~583.3696 Totals 7064 3128 3836 58 ~~144~~136 98,~~536~~414,~~364~~229.8262 64,~~010~~149,~~007~~272.8443 45,~~523~~979,~~784~~760.7404 ~~393~~648,~~565~~204.2917 2019,~~463~~191,~~722~~466.6926 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.~~710376~~538462% 0.~~114025~~118343% 0.000000% 1.~~824401~~656805% 1.~~835182~~701670% 0.~~061903~~064386% 0.000000% 1.~~897085~~766056% 30 Days 43.~~332953~~076923% 0.~~114025~~118343% 0.~~342075~~236686% 0.000000% 43.~~789054~~431953% 32.~~588914~~245937% 0.~~100324~~034252% 0.~~216106~~092130% 0.000000% 32.~~905344~~372320% 60 Days 12.~~824401~~603550% 0.~~114025~~236686% 0.~~228050~~355030% 0.000000% 23.~~166477~~195266% 1.~~197672~~940119% 0.~~068511~~263433% 0.~~339570~~332219% 0.000000% 12.~~605753~~535770% 90 Days 0.~~570125~~828402% 0.~~114025~~236686% 0.~~114025~~473373% 0.000000% 01.~~798176~~538462% 0.~~419027~~632286% 0.~~130132~~206556% 0.~~025461~~591929% 0.000000% 01.~~574619~~430771% 120 Days 0.~~456100~~236686% 0.~~342075~~000000% 0.~~798176~~473373% 0.000000% 10.~~596351~~710059% 0.~~704297~~580839% 0.~~162999~~000000% 0.~~779884~~315571% 0.000000% 10.~~647180~~896411% 150 Days 0.~~114025~~473373% 0.~~228050~~118343% 0.~~798176~~591716% 0.000000% 1.~~140251~~183432% 0.~~075453~~304319% 0.~~208505~~058234% 0.~~569428~~525321% 0.000000% 0.~~853386~~887874% 180+ Days 0.~~684151~~355030% 01.~~912201~~065089% 12.~~938426~~011834% 0.~~570125~~946746% 4.~~104903~~378698% 0.~~390048~~150636% 10.~~512260~~622681% 12.~~031966~~238816% 0.~~263113~~450983% 3.~~197387~~463116% Totals 7.~~981756~~573964% 3.~~534778~~313609% 4.~~332953~~260355% 0.~~570125~~946746% 16.~~419612~~094675% 65.~~375412~~854137% 42.~~017912~~886825% 34.~~024317~~160373% 0.~~263113~~450983% 13.~~680754~~352317%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 86 1 0 97 1,~~711~~266,~~585~~936.6566 92,~~594~~543.5052 0.00 1,~~804~~359,~~180~~480.1518 30 Days 2214 ~~1 2~~ 0 ~~25 3,825,789.35 150,065.70 282,249.71 0.00 4,258,104.76 60 Days 9~~ 1 1 0 1115 ~~948~~2,~~612.75 102~~203,~~478~~651.4069 ~~82,745.38~~ 0.00 191,~~133,836~~564.~~53 90 Days 4 0 1 0 5 524,038.24 0.00~~ 38~~,084.17~~ 0.00 ~~562,122.41 120 Days 3~~ 2 ~~3 0 8 955~~,~~105.74 138~~295,~~579~~216.8307 ~~512,527.74~~60 ~~0.00 1,606,213.31 150~~ Days 113 2 2 0 517 ~~112~~1,~~863~~789,362.3252 ~~311~~378,~~882~~635.7318 ~~161~~273,~~748~~328.5750 0.00 ~~586,494.62 180 Days 6 5 8 3 22 583,435.54 450,975.50 590,909.43 238,351.54 1,863,672.01 Totals 45 19 18 3 85 6,949,844.94~~ 2,~~865~~441,~~567~~326.8120 1,760,859.50 238,351.54 11,814,623.79 0-29 Days 3.007519% 0.375940% 0.000000% 3.383459% 4.318969% 0.233650% 0.000000% 4.552619% 30 Days 8.270677% 0.375940% 0.751880% 0.000000% 9.398496% 9.653893% 0.378672% 0.712221% 0.000000% 10.744786% 60 Days 3.383459% 0.375940% 0.375940% 0.000000% 4.135338% 2.393704% 0.258591% 0.208797% 0.000000% 2.861092% 90 Days ~~1.503759% 0.000000% 0.375940% 0.000000% 1.879699% 1.322344% 0.000000% 0.096101% 0.000000% 1.418444% 120 Days 1.127820% 0.751880% 1.127820% 0.000000% 3.007519% 2.410088% 0.349689% 1.293299% 0.000000%~~ 4~~.053075%~~ ~~150 Days 0.375940% 0.751880% 0.751880% 0.000000%~~ 1~~.879699%~~ ~~0.284796% 0.786996% 0.408152% 0.000000%~~ 1~~.479945%~~ ~~180 Days 2.255639% 1.879699% 3.007519% 1.127820% 8.270677% 1.472225% 1.137979% 1.491085%~~ 0~~.601450%~~ ~~4.702740% Totals 16.917293% 7.142857%~~ 6~~.766917%~~ 1.127820% 31.954887% 17.537051% 7.230896% 4.443305% 0.601450% 29.812702% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 4 0 0 4 738569,~~848~~777.5171 ~~0.00 0.00 738~~102,~~848~~478.5140 ~~30 Days 9 0 0 0 9 983~~100,~~868~~315.5807 0.00 ~~0.00 0.00 983~~772,~~868~~571.5818 60120 Days 2 0 13 0 35 ~~201~~834,~~484~~848.3235 0.00 ~~425~~329,~~184~~275.5354 0.00 ~~626~~1,~~668~~164,123.8589 90150 Days 12 1 03 0 26 ~~102~~233,~~743~~782.8797 ~~194~~83,~~651~~700.2515 0402,922.0005 0.00 ~~297~~720,~~395~~405.1217 ~~120~~180 Days 13 07 28 04 322 98216,~~384~~511.7570 ~~0.00 419~~725,~~199~~214.6378 ~~0.00 517~~649,~~584~~920.3875 ~~150 Days 0 0 2 0 2 0.00 0.00 209,~~301~~.31 0.00 209~~,~~301~~069.~~31 180 Days 0 3 6 1 10 0.~~00 1,~~811~~892,~~068~~716.0623 ~~850,489.14 94,754.88 2,756,312.08~~ Totals 1338 817 1119 14 3378 15,~~386~~847,~~481~~934.5294 2,~~744~~556,~~567~~965.8217 1,~~904~~939,~~174~~869.6181 94301,~~754~~069.8800 610,~~129~~645,~~978~~838.8392 0-29 Days 02.~~980392~~352941% 0.~~000000~~392157% 0.000000% 02.~~980392~~745098% 03.~~865570~~340680% 0.~~000000~~244020% 0.000000% 03.~~865570~~584700% 30 Days 25.~~205882~~490196% 0.000000% 0.~~000000~~392157% 0.000000% 25.~~205882~~882353% 15.~~152615~~810626% 0.000000% 0.~~000000~~241438% 0.000000% 16.~~152615~~052064% 60 Days 05.~~490196~~098039% 0.~~000000~~784314% 0.~~245098~~784314% 0.000000% 06.~~735294~~666667% 04.~~236041~~718221% 0.~~000000~~998392% 0.~~498109~~720717% 0.000000% 06.~~734151~~437330% 90 Days 01.~~245098~~568627% 0.~~245098~~392157% 0.~~000000~~392157% 0.000000% 02.~~490196~~352941% 01.~~120366~~502399% 0.~~228036~~270217% 0.~~000000~~264512% 0.000000% 02.~~348402~~037129% 120 Days 0.~~245098~~784314% 0.000000% 0.490196% 0.000000% 0.735294% 0.115259% 0.000000% 0.491098% 0.000000% 0.606357% 150 Days 0.000000% 0.000000% 0.490196% 0.000000% 0.490196% 0.000000% 0.000000% 0.245199% 0.000000% 0.245199% 180 Days 0.000000% 0.735294% 1.~~470588~~176471% 0.~~245098% 2.450980% 0.~~000000% ~~2.121689% 0.996359% 0.111007% 3.229055% Totals 3.186275%~~ 1.960784% 2.~~696078~~201342% 0.245098% 8.088235% 1.624281% 3.215296% 2.230765% 0.111007% 7.181348% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 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 3 0 0 3 294,638.02 0.00 0.00 294,638.02 30 Days 7 0 1 0 8 558,653.12 0.00 41,001.73 0.00 599,654.85 60 Days 5 0 0 0 5 641,385.24 0.00 0.00 0.00 641,385.24 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 1 2 0 3 0.00 105,234.19 234,826.40 0.00 340,060.59 150 Days 0 0 3 0 3 0.00 0.00 480,702.10 0.00 480,702.10 180 Days 0 0 3 1 4 0.00 0.00 102,220.40 60,458.87 162,679.27 Totals 12 4 9 1 26 1,200,038.36 399,872.21 858,750.63 60,458.87 2,519,120.07 0-29 Days 1.477833% 0.000000% 0.~~000000~~868239% ~~1.477833% 1.198146%~~ 0.000000% ~~0.000000% 1.198146% 30 Days~~ 3.~~448276~~069581% ~~0.000000%~~150 ~~0.492611% 0.000000% 3.940887% 2.271764% 0.000000% 0.166734% 0.000000% 2.438498% 60~~ Days ~~2.463054%~~ 0.~~000000~~784314% 0.~~000000~~392157% 01.~~000000~~176471% ~~2.463054% 2.608195%~~ 0.000000% ~~0.000000% 0.000000%~~ 2.~~608195~~352941% ~~90 Days~~ 0.~~000000~~616443% 0.~~000000~~220702% ~~0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.492611% 0.985222% 0.000000%~~ 1.~~477833~~062432% 0.000000% ~~0.427935% 0.954922% 0.000000%~~ 1.~~382857~~899576% ~~150~~180 Days ~~0.000000% 0.000000%~~ 1.~~477833~~176471% 02.~~000000~~745098% 13.~~477833~~137255% ~~0.000000% 0.000000%~~ 1.~~954776~~568627% 08.~~000000~~627451% ~~1.954776% 180 Days~~ 0.~~000000~~570902% ~~0.000000%~~ 1.~~477833~~912258% ~~0.492611%~~ 1.~~970443~~713722% 0.~~000000~~793864% 04.~~000000~~990746% ~~0.415680%~~Totals 014.~~245856~~901961% 06.~~661536~~666667% ~~Totals 5~~7.~~911330~~450980% 1.~~970443~~568627% 430.~~433498~~588235% 015.~~492611~~419933% 126.~~807882~~742249% 45.~~879959~~115081% ~~1.626081% 3.492112%~~ 0.~~245856~~793864% 1028.~~244008~~071126%

~~OTHER~~DELINQUENT ~~INFORMATION~~BANKRUPTCY ~~Current~~FORECLOSURE ~~Period~~REO ~~Class~~Total AGroup ~~Insufficient~~2 ~~Funds~~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 5 0 0 5 934,228.19 0.00 ~~Principal~~0.00 ~~Balance~~934,228.19 of30 ~~Contaminated~~Days ~~Properties~~3 0 0 0 3 409,400.88 0.00 ~~Periodic~~0.00 ~~Advance~~0.00 ~~121~~409,~~892~~400.3788 60 Days 5 0 1 0 6 502,089.25 0.00 204,173.93 0.00 706,263.18 90 Days 2 1 3 0 6 201,484.32 194,407.21 750,472.99 0.00 1,146,364.52 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 1 0 0 0 1 98,384.75 0.00 0.00 0.00 98,384.75 180 Days 0 2 5 3 10 0.00 169,772.58 2,338,204.50 286,676.30 2,794,653.38 Totals 11 8 9 3 31 1,211,359.20 1,298,407.98 3,292,851.42 286,676.30 6,089,294.90 0-29 Days 1.282051% 0.000000% 0.000000% 1.282051% 1.147014% 0.000000% 0.000000% 1.147014% 30 Days 0.769231% 0.000000% 0.000000% 0.000000% 0.769231% 0.502649% 0.000000% 0.000000% 0.000000% 0.502649% 60 Days 1.282051% 0.000000% 0.256410% 0.000000% 1.538462% 0.616449% 0.000000% 0.250678% 0.000000% 0.867126% 90 Days 0.512821% 0.256410% 0.769231% 0.000000% 1.538462% 0.247376% 0.238687% 0.921406% 0.000000% 1.407468% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.256410% 0.000000% 0.000000% 0.000000% 0.256410% 0.120794% 0.000000% 0.000000% 0.000000% 0.120794% 180 Days 0.000000% 0.512821% 1.282051% 0.769231% 2.564103% 0.000000% 0.208441% 2.870770% 0.351972% 3.431183% Totals 2.820513% 2.051282% 2.307692% 0.769231% 7.948718% 1.487267% 1.594142% 4.042854% 0.351972% 7.476234%

~~SUBORDINATION~~DELINQUENT ~~LEVEL/CLASS~~BANKRUPTCY ~~PERCENTAGE~~FORECLOSURE ~~AND~~REO ~~PREPAYMENT~~Total ~~PERCENTAGE~~Group ~~Current~~3 ~~Original~~No $of ~~Original~~Loans %No ~~Current~~of $Loans ~~Current~~No %of ~~Class%~~Loans ~~Prepayment%~~No ~~Class~~of ALoans ~~163~~No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 2 0 0 2 244,~~533,767~~667.83 0.00 780.~~67493230%~~00 ~~117~~244,~~840~~667.83 30 Days 9 1 1 0 11 615,~~813~~063.8440 7849,231.~~93401597%~~45 2140,855.~~065983%~~28 0.~~000000%~~00 ~~Class~~705,150.13 2A 60 Days 4 0 0 0 4 497,~~676,467~~107.06 0.00 290.~~19101676%~~00 510.00 497,~~473~~107.06 90 Days 1 0 0 0 1 137,~~609~~530.8983 340.~~47887547%~~00 440.~~455141%~~00 ~~207~~0.~~157901%~~00 ~~Class~~137,530.83 3A120 32Days 0 0 1 0 1 0.00 0.00 124,~~530,367~~299.17 0.00 15124,299.~~65012822%~~17 32150 Days 1 0 2 0 3 105,~~037~~234.19 0.00 352,~~013~~128.1488 210.~~45954381%~~00 13457,363.~~019332%~~07 180 Days 0 0 4 1 5 0.00 0.00 229,755.48 60,458.~~669191%~~87 ~~Class~~290,214.35 B-Totals 15 3 8 1 2427 1,~~631~~354,~~667~~935.0048 11293,899.~~85011982%~~28 24747,~~247~~038.81 60,~~723~~458.3387 162,456,332.~~24199730~~44 0-29 Days 1.000000% 50.~~217547~~000000% 240.~~313408~~000000% ~~Class~~1.000000% ~~B-2 18,083,967~~1.00004460% 80.~~70006792~~000000% ~~17,790,719~~0.92000000% 111.~~91686415~~004460% 30 Days 4.~~325133~~500000% 200.~~154823~~500000% ~~Class~~0.500000% ~~B-3~~0.000000% ~~12,887,567~~5.00500000% 62.~~20011683~~525083% ~~12,666,298~~0.74202115% 80.~~48434252~~167727% 30.~~432522~~000000% 152.~~995315~~894925% ~~Class~~60 ~~B-4~~Days ~~9,042,167~~2.00000000% 40.~~35012224~~000000% ~~8,874,163~~0.96000000% 50.~~94423423~~000000% 2.~~540108~~000000% 112.~~836730~~040825% ~~Class~~0.000000% ~~B-5~~0.000000% ~~6,443,867~~0.00000000% 32.~~10009859~~040825% ~~6,311,854~~90 Days 0.76500000% 40.~~22790736~~000000% 10.~~716327~~000000% 70.~~997965~~000000% ~~Class~~0.500000% ~~B-6~~0.564619% ~~100~~0.00000000% 0.~~00004811~~000000% 0.00000000% 0.~~00000000~~564619% 4120 Days 0.~~227907~~000000% 190.~~701758~~000000% ~~Class~~0.500000% ~~R-I~~0.000000% 500.00500000% 0.~~00002405~~000000% 0.00000000% 0.~~00000000~~510298% 0.000000% 0.510298% 150 Days 0.500000% 0.000000% ~~Class~~1.000000% ~~R-II~~0.000000% 1.500000% 0.00432029% 0.~~00000000~~000000% 1.445631% 0.00000000% 1.877660% 180 Days 0.~~00000000~~000000% 0.000000% 2.000000% 0.500000% 2.500000% 0.000000% ~~Please~~0.000000% ~~Refer~~0.943239% to0.248208% ~~the~~1.191447% ~~Prospectus~~Totals ~~Supplement~~7.500000% ~~for~~1.500000% a4.000000% ~~Full~~0.500000% ~~Description~~13.500000% of5.562556% ~~Loss~~1.206575% ~~Exposure~~3.066895% 0.248208% 10.084235%

~~COLLATERAL~~OTHER ~~STATEMENT~~INFORMATION ~~Collateral~~Current ~~Description~~Period ~~Mixed~~Class ~~ARM~~A ~~Weighted~~Insufficient ~~Average~~Funds ~~Gross Coupon 5~~0.~~645528%~~00 ~~Weighted~~Principal Average Net Coupon 5.295602% Weighted Average Pass-Through Rate 5.285602% Weighted Average Maturity(Stepdown Calculation ) 321 Beginning Scheduled Collateral Loan Count 902 Number Of Loans Paid In Full 25 Ending Scheduled Collateral Loan Count 877 Beginning Scheduled Collateral Balance ~~154,135,575.88~~of ~~Ending~~Contaminated ~~Scheduled~~Properties ~~Collateral Balance 149,290,280.48 Ending Actual Collateral Balance at 31-Jul-2004 149,580,371.60 Monthly P &I Constant 948,791.55 Special Servicing Fee~~ 0.00 ~~Prepayment~~Periodic ~~Penalties~~Advance ~~0.00 Realized Loss Amount 42~~116,~~655~~079.~~30 Cumulative Realized Loss 42,655.30 Class A Optimal Amount 5,294,641.30 Ending Scheduled Balance for Premium Loans 149,290,280.48 Scheduled Principal 223,644.32 Unscheduled Principal 4,621,651.08~~95

~~Miscellaneous~~SUBORDINATION ~~Reporting~~LEVEL/CLASS ~~Senior~~PERCENTAGE ~~Percentage~~AND ~~79.157517~~PREPAYMENT PERCENTAGE Current Original $ Original % ~~Senior~~Current ~~Percentage~~$ ~~Group~~Current 1% Class% Prepayment% Class A 163,533,767.00 78.67493230% 113,687,149.51 79.~~938793~~25309648% ~~Senior~~20.746903% ~~Percentage~~0.000000% ~~Group~~Class 22A 7860,676,467.~~447443~~00 29.19101676% ~~Senior~~51,190,243.20 ~~Percentage~~35.68552207% ~~Group~~43.567574% 3195.464945% 80Class 3A 32,530,367.~~340035~~00 15.65012822% ~~Senior~~31,973,460.15 ~~Prepay~~22.28920096% ~~Percentage~~13.396321% ~~Group~~60.102294% Class B-1 ~~100~~24,631,667.~~000000~~00 11.85011982% ~~Senior~~24,195,394.01 ~~Prepay~~16.86698896% ~~Percentage~~5.422212% ~~Group~~24.326632% Class B-2 ~~100~~18,083,967.~~000000~~00 8.70006792% ~~Senior~~17,747,694.56 ~~Prepay~~12.37219646% ~~Percentage~~4.494792% ~~Group~~20.165786% Class B-3 ~~100~~12,887,567.~~000000~~00 6.20011683% ~~Subordinate~~12,630,657.22 ~~Percentage~~8.80502941% 203.~~842483~~567167% ~~Subordinate~~16.004015% ~~Percentage~~Class ~~Group~~B-4 19,042,167.00 204.~~061207~~35012224% ~~Subordinate~~8,843,986.56 ~~Percentage~~6.16528186% ~~Group~~ 2.639748% 2111.~~552557~~843168% ~~Subordinate~~Class ~~Percentage~~B-5 ~~Group~~6,443,867.00 3 19.~~659965~~10009859% ~~Subordinate~~6,285,369.42 ~~Prepay~~4.38162968% ~~Percentage~~1.783652% 08.~~000000~~002315% ~~Subordinate~~Class ~~Prepay~~B-6 ~~Percent~~100.00 ~~Group1~~0.00004811% 0.~~000000~~00 0.00000000% ~~Subordinate~~4.381630% ~~Prepay~~19.658083% ~~Percent~~Class ~~Group~~R-I 250.00 0.00002405% 0.00 0.00000000% 0.000000% ~~Subordinate~~0.000000% ~~Prepay~~Class ~~Percent~~R-II ~~Group~~0.00 30.00000000% 0.00 0.00000000% 0.000000% ~~Subordination~~0.000000% ~~Doubling~~Please ~~Test~~Refer ~~passed?~~to NOthe ~~Delinquency~~Prospectus ~~Test~~Supplement ~~passed?~~for ~~YES~~a ~~Realized~~Full ~~Loss~~Description ~~Test~~of ~~passed?~~Loss ~~YES~~Exposure

~~Group~~COLLATERAL ~~Level~~STATEMENT Collateral ~~Statement Group Group 1 Group 2 Group 3 Collateral~~ Description Mixed ARM ~~Mixed~~Weighted ~~ARM~~Average ~~Mixed~~Gross ~~ARM~~Coupon 5.652293% Weighted Average Net Coupon ~~Rate 6.479328~~ 5.~~387666~~303266% ~~5.216218~~ Weighted Average ~~Net~~Pass-Through Rate ~~6.092211~~ 5.~~089638~~293266% ~~4.748781~~ Weighted Average Maturity(Stepdown ~~319~~Calculation ~~341~~) ~~249~~320 Beginning Scheduled Collateral Loan Count ~~273~~877 ~~418~~Number ~~211~~Of Loans Paid In Full 732 10Ending 8Scheduled ~~Ending~~Collateral Loan Count ~~266~~845 ~~408 203~~ Beginning Scheduled Collateral Balance 40149,~~480~~290,~~937~~280.0748 ~~87,723,856.88 25,930,781.93~~ Ending ~~scheduled~~Scheduled Collateral Balance 39143,~~516~~448,~~041~~211.4257 ~~85,253,346.74~~Ending ~~24,520,892.32~~Actual ~~Record~~Collateral ~~Date~~Balance ~~07/31/2004~~at ~~07/~~31/-Aug-2004 ~~07/31/2004 Principal And Interest Constant 277~~143,~~060.28 489~~731,~~395~~352.~~18 182,336.09 Scheduled Principal 58,485.90 95,539.51 69,618.91 Unscheduled Principal 906,409.75 2,374,970.~~63 ~~1,340,270.70~~Monthly ~~Scheduled~~P ~~Interest~~&I ~~218,574.38~~Constant ~~393~~920,~~855~~324.6781 ~~112,717.18~~Special Servicing ~~Fees 13,059.04 21,786.76 10,100.84 Master Servicing Fees 337.36 731.02 216.09 Trustee~~ Fee 0.00 ~~0.00~~Prepayment ~~0.00~~Penalties ~~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 205,177.98 371,337.89 102,400.25 Realized Loss Amount 4217,~~655~~390.3052 ~~0.00 0.00~~ Cumulative Realized Loss 4260,~~655~~045.3082 ~~0.00~~Class ~~0.00~~A ~~Percentage~~Optimal ofAmount ~~Cumulative Losses 0~~6,295,123.~~0812~~41 ~~0.0000~~Ending ~~0.0000~~Scheduled ~~Prepayment~~Balance ~~Penalties~~for ~~0.00~~Premium ~~0.00~~Loans 0143,448,211.0057 ~~Special~~Scheduled ~~Servicing~~Principal ~~Fee 0~~217,131.0017 ~~0.00~~Unscheduled ~~0.00~~Principal ~~Pass-Through Rate 6.082211~~ 5,624,937.~~079638 4.738781~~74

~~Group~~Miscellaneous ~~Level~~Reporting ~~Collateral~~Senior ~~Statement~~Percentage ~~Group~~78.540455% ~~Total~~Senior ~~Collateral~~Percentage ~~Description~~Group ~~Mixed~~1 ~~ARM~~79.586578% ~~Weighted~~Senior ~~Average~~Percentage ~~Coupon~~Group ~~Rate~~2 577.~~645528~~847036% ~~Weighted~~Senior ~~Average~~Percentage ~~Net~~Group ~~Rate~~3 579.~~295602~~265455% ~~Weighted~~Senior ~~Average~~Prepay ~~Maturity~~Percentage ~~321~~Group ~~Beginning~~1 ~~Loan~~100.000000% ~~Count~~Senior ~~902~~Prepay ~~Loans~~Percentage ~~Paid~~Group In2 ~~Full 25 Ending Loan Count 877 Beginning Scheduled Balance 154,135,575~~100.88000000% ~~Ending~~Senior ~~scheduled~~Prepay ~~Balance~~Percentage ~~149,290,280.48~~Group ~~Record~~3 ~~Date 07/31/2004 Principal And Interest Constant 948,791~~100.55000000% ~~Scheduled~~Subordinate ~~Principal~~Percentage ~~223,644~~21.32459545% ~~Unscheduled~~Subordinate ~~Principal~~Percentage ~~4,621,651.08~~Group ~~Scheduled~~1 ~~Interest 725,147~~20.23413422% ~~Servicing~~Subordinate ~~Fees~~Percentage ~~44,946.64~~Group ~~Master~~2 ~~Servicing Fees 1,284~~22.47152964% ~~Trustee~~Subordinate ~~Fee~~Percentage ~~0.00~~Group ~~FRY~~3 ~~Amount 0~~20.00734545% ~~Special~~Subordinate ~~Hazard~~Prepay ~~Fee~~Percentage 0.00000000% ~~Other~~Subordinate ~~Fee~~Prepay ~~0.00~~Percent ~~Pool~~Group1 ~~Insurance Fee~~ 0.00000000% ~~Spread~~Subordinate ~~Fee~~Prepay 1Percent ~~0.00~~Group ~~Spread Fee~~ 2 0.00000000% ~~Spread~~Subordinate ~~Fee~~Prepay Percent Group 3 0.00000000% ~~Net~~Subordination ~~Interest~~Doubling ~~678,916.12~~Test ~~Realized~~passed? ~~Loss~~NO ~~Amount~~Delinquency ~~42,655.30~~Test ~~Cumulative~~passed? YES Realized Loss ~~42,655.30~~Test ~~Percentage~~passed? ~~of Cumulative Losses 0.0205 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.285602~~YES

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES TRUST 2003-SD2