8-K 1 bsl03007_sep.txt SEPTEMBER 8K 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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-12 54-2139195 Pooling and Servicing Agreement) (Commission 54-2139196 (State or other File Number) 54-2139197 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 ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2003-7 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 2003-7 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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 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: 9/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-7 Trust, relating to the September 27, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 78/31/042004 Distribution Date: 89/2527/042004 BSL Series: 2003-7 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-1 07386HEQ0 SEN 12.~~85000~~01500% ~~235~~223,~~422~~143,~~390~~589.5936 ~~362~~412,~~942~~164.8584 128,~~278~~456,~~801~~029.2363 II-A-1 07386HER8 SEN 1.~~77000~~93500% 6760,~~499~~876,~~488~~858.7388 99107,~~561~~980.7434 65,~~622~~416,~~629~~540.8518 II-A-2 07386HES6 SEN 1.~~73000~~89500% 7871,~~826~~092,~~010~~093.9420 ~~113~~123,~~640~~492.8390 76,~~733~~325,~~917~~444.7429 M-1 07386HET4 SUB 2.~~10000~~26500% 14,581,500.00 2530,~~517~~274.6284 0.00 M-2 07386HEU1 SUB 2.~~80000~~96500% 8,748,900.00 2023,~~414~~778.1078 0.00 B 07386HEV9 SUB 34.~~95000~~11500% 5,832,600.00 1922,~~198~~001.9705 0.00 B-IO BSL030071 SEN 0.00000% 0.00 1,~~314~~107,~~270~~999.5797 0.00 X BSL030072 SEN 0.00000% 2,916,293.00 0.00 0.00 XP BSL030073 SEN 0.00000% 100.00 7025,~~656~~773.3221 0.00 R-1 BSL030074 RES 0.00000% 0.00 0.00 0.00 R-2 BSL030075 RES 0.00000% 0.00 0.00 0.00 R-3 BSL030076 RES 0.00000% 0.00 0.00 0.00 Totals ~~413~~387,~~827~~191,~~283~~934.2644 21,~~026~~853,~~203~~465.0093 2620,~~635~~198,~~348~~014.8210

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~223~~214,~~143~~687,~~589~~559.3673 128,~~641~~868,~~744~~194.0847 0.00 II-A-1 0.00 6055,~~876~~460,~~858~~318.8870 65,~~722~~524,~~191~~520.5952 0.00 II-A-2 0.00 7164,~~092~~766,~~093~~648.2091 76,~~847~~448,~~558~~937.5719 0.00 M-1 0.00 14,581,500.00 2530,~~517~~274.6284 0.00 M-2 0.00 8,748,900.00 2023,~~414~~778.1078 0.00 B 0.00 5,832,600.00 1922,~~198~~001.9705 0.00 B-IO 0.00 0.00 1,~~314~~107,~~270~~999.5797 0.00 X 0.00 2,916,293.00 0.00 0.00 XP 0.00 100.00 7025,~~656~~773.3221 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 Totals 0.00 ~~387~~366,~~191~~993,~~934~~920.4434 2822,~~661~~051,~~551~~480.8203 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A-1 283,120,300.00 ~~235~~223,~~422~~143,~~390~~589.5936 0.00 128,~~278~~456,~~801~~029.2363 0.00 0.00 II-A-1 125,000,000.00 6760,~~499~~876,~~488~~858.7388 0.00 65,~~622~~416,~~629~~540.8518 0.00 0.00 II-A-2 145,975,200.00 7871,~~826~~092,~~010~~093.9420 0.00 76,~~733~~325,~~917~~444.7429 0.00 0.00 M-1 14,581,500.00 14,581,500.00 0.00 0.00 0.00 0.00 M-2 8,748,900.00 8,748,900.00 0.00 0.00 0.00 0.00 B 5,832,600.00 5,832,600.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 X 37.13 2,916,293.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~413~~387,~~827~~191,~~283~~934.2644 0.00 2620,~~635~~198,~~348~~014.8210 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A-1 128,~~278~~456,~~801~~029.2363 ~~223~~214,~~143~~687,~~589~~559.3673 0.~~78815821~~75829094 128,~~278~~456,~~801~~029.2363 II-A-1 65,~~622~~416,~~629~~540.8518 6055,~~876~~460,~~858~~318.8870 0.~~48701487~~44368255 65,~~622~~416,~~629~~540.8518 II-A-2 76,~~733~~325,~~917~~444.7429 7164,~~092~~766,~~093~~648.2091 0.~~48701487~~44368255 76,~~733~~325,~~917~~444.7429 M-1 0.00 14,581,500.00 1.00000000 0.00 M-2 0.00 8,748,900.00 1.00000000 0.00 B 0.00 5,832,600.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 X 0.00 2,916,293.00 78,542.76865069 0.00 XP 0.00 100.00 1.00000000 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 Totals 2620,~~635~~198,~~348~~014.8210 ~~387~~366,~~191~~993,~~934~~920.4434 0.~~66384261~~62921301 2620,~~635~~198,~~348~~014.8210

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 283,120,300.00 ~~831~~788.~~52776608~~15821176 0.00000000 4329.~~36955432~~86726713 0.00000000 II-A-1 125,000,000.00 ~~539~~487.~~99590984~~01487104 0.00000000 5243.~~98103880~~33232144 0.00000000 II-A-2 145,975,200.00 ~~539~~487.~~99590985~~01487102 0.00000000 5243.~~98103883~~33232145 0.00000000 M-1 14,581,500.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 8,748,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 5,832,600.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 37.13 78542768.65068680 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-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 I-A-1 0.00000000 4329.~~36955432~~86726713 ~~788~~758.~~15821176~~29094463 0.~~78815821~~75829094 4329.~~36955432~~86726713 II-A-1 0.00000000 5243.~~98103880~~33232144 ~~487~~443.~~01487104~~68254960 0.~~48701487~~44368255 5243.~~98103880~~33232144 II-A-2 0.00000000 5243.~~98103883~~33232145 ~~487~~443.~~01487102~~68254957 0.~~48701487~~44368255 5243.~~98103883~~33232145 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 X 0.00000000 0.00000000 78,542,768.65068680 78542.76865069 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 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 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A-1 283,120,300.00 12.~~85000~~01500% ~~235~~223,~~422~~143,~~390~~589.5936 ~~362~~412,~~942~~164.8580 0.00 0.00 II-A-1 125,000,000.00 1.~~77000~~93500% 6760,~~499~~876,~~488~~858.7388 99107,~~561~~980.7533 0.00 0.00 II-A-2 145,975,200.00 1.~~73000~~89500% 7871,~~826~~092,~~010~~093.9420 ~~113~~123,~~640~~492.8389 0.00 0.00 M-1 14,581,500.00 2.~~10000~~26500% 14,581,500.00 2530,~~517~~274.6384 0.00 0.00 M-2 8,748,900.00 2.~~80000~~96500% 8,748,900.00 2023,~~414~~778.1078 0.00 0.00 B 5,832,600.00 34.~~95000~~11500% 5,832,600.00 1922,~~198~~001.9705 0.00 0.00 B-IO 0.00 0.00000% ~~413~~387,~~827~~191,~~183~~834.2644 0.00 0.00 0.00 X 37.13 0.00000% 2,916,293.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~641~~719,~~276~~692.1369 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A-1 0.00 0.00 ~~362~~412,~~942~~164.8584 0.00 ~~223~~214,~~143~~687,~~589~~559.3673 II-A-1 0.00 0.00 99107,~~561~~980.7434 0.00 6055,~~876~~460,~~858~~318.8870 II-A-2 0.00 0.00 ~~113~~123,~~640~~492.8390 0.00 7164,~~092~~766,~~093~~648.2091 M-1 0.00 0.00 2530,~~517~~274.6284 0.00 14,581,500.00 M-2 0.00 0.00 2023,~~414~~778.1078 0.00 8,748,900.00 B 0.00 0.00 1922,~~198~~001.9705 0.00 5,832,600.00 B-IO 0.00 0.00 1,~~314~~107,~~270~~999.5797 0.00 ~~387~~366,~~191~~993,~~834~~820.4434 X 0.00 0.00 0.00 0.00 2,916,293.00 XP 0.00 0.00 7025,~~656~~773.3221 0.00 100.00 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 Totals 0.00 0.00 21,~~026~~853,~~203~~465.0093 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A-1 283,120,300.00 12.~~85000~~01500% ~~831~~788.~~52776608~~15821176 1.~~28193863~~45579388 0.00000000 0.00000000 II-A-1 125,000,000.00 1.~~77000~~93500% ~~539~~487.~~99590984~~01487104 0.~~79649400~~86384264 0.00000000 0.00000000 II-A-2 145,975,200.00 1.~~73000~~89500% ~~539~~487.~~99590985~~01487102 0.~~77849409~~84598541 0.00000000 0.00000000 M-1 14,581,500.00 2.~~10000~~26500% 1000.00000000 12.~~75000034~~07625004 0.00000000 0.00000000 M-2 8,748,900.00 2.~~80000~~96500% 1000.00000000 2.~~33333333~~71791654 0.00000000 0.00000000 B 5,832,600.00 34.~~95000~~11500% 1000.00000000 3.~~29166581~~77208278 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~709~~663.~~50900315~~84254973 0.00000000 0.00000000 0.00000000 X 37.13 0.00000% 78542768.65068680 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-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 I-A-1 0.00000000 0.00000000 1.~~28193863~~45579402 0.00000000 ~~788~~758.~~15821176~~29094463 II-A-1 0.00000000 0.00000000 0.~~79649392~~86384272 0.00000000 ~~487~~443.~~01487104~~68254960 II-A-2 0.00000000 0.00000000 0.~~77849409~~84598548 0.00000000 ~~487~~443.~~01487102~~68254957 M-1 0.00000000 0.00000000 12.~~74999966~~07625004 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~33333333~~71791654 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~29166581~~77208278 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 21.~~25332419~~89967210 0.00000000 ~~663~~629.~~84254973~~21294242 X 0.00000000 0.00000000 0.00000000 0.00000000 78542768.65068680 XP 0.00000000 0.00000000 ~~706563~~257732.~~20000000~~10000000 0.00000000 1000.00000000 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 (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 2822,~~796~~174,~~939~~211.5413 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3532,~~809~~613.0922 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2822,~~832~~206,~~748~~824.6335 Withdrawals Reimbursement for Servicer Advances 4335,~~391~~809.6309 Payment of Service Fee ~~127~~119,~~805~~535.1823 Payment of Interest and Principal 2822,~~661~~051,~~551~~480.8203 Total Withdrawals (Pool Distribution Amount) 2822,~~832~~206,~~748~~824.6335 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 9286,~~968~~278.4542 Additional Servicing Fee 3433,~~836~~256.7381 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~127~~119,~~805~~535.1823

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 ~~423~~422,~~080~~577.7026 0.00 0.00 ~~423~~422,~~080~~577.7026 30 Days 87 0 0 0 87 21,~~262~~754,~~384~~155.4618 0.00 0.00 0.00 21,~~262~~754,~~384~~155.4618 60 Days 23 1 0 0 34 ~~608~~305,~~198~~140.9824 152,949.98 0.00 0.00 ~~761~~458,~~148~~090.9622 90 Days 1 0 0 1 0 1 ~~352,298.97~~ 0.00 0.00 253,499.99 0.00 ~~352~~253,~~298~~499.9799 120 Days 12 0 01 0 13 ~~379~~731,~~614~~505.8601 0.00 0360,000.00 0.00 ~~379~~1,~~614~~091,505.8601 150 Days 0 10 10 10 30 0.00 ~~94,500~~0.00 ~~360,000~~0.00 ~~143,979~~0.7400 ~~598,479~~0.7400 180+ Days 2 01 3 23 79 305,350.00 094,500.00 759,503.46 ~~593~~737,~~109~~089.8963 1,~~657~~896,~~963~~443.3509 Totals 14 3 45 3 2425 3,~~907~~096,~~847~~150.2743 670,~~530~~027.6824 1,~~119~~373,~~503~~003.4645 737,089.63 65,~~434~~876,~~971~~270.0475 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.~~069444~~072622% 0.000000% 0.000000% 0.~~069444~~072622% 0.~~109211~~115082% 0.000000% 0.000000% 0.~~109211~~115082% 30 Days 0.~~555556~~508351% 0.000000% 0.000000% 0.000000% 0.~~555556~~508351% 0.~~583994~~477716% 0.000000% 0.000000% 0.000000% 0.~~583994~~477716% 60 Days 0.~~138889~~217865% 0.~~069444~~072622% 0.000000% 0.000000% 0.~~208333~~290487% 0.~~156996~~083100% 0.~~039481~~041653% 0.000000% 0.000000% 0.~~196477~~124754% 90 Days 0.~~069444~~000000% 0.000000% 0.~~000000~~072622% 0.000000% 0.~~069444~~072622% 0.~~090940~~000000% 0.000000% 0.~~000000~~069037% 0.000000% 0.~~090940~~069037% 120 Days 0.~~069444~~145243% 0.000000% 0.~~000000~~072622% 0.000000% 0.~~069444~~217865% 0.~~097991~~199214% 0.000000% 0.~~000000~~098040% 0.000000% 0.~~097991~~297254% 150 Days 0.000000% 0.~~069444~~000000% 0.~~069444~~000000% 0.~~069444~~000000% 0.~~208333~~000000% 0.000000% 0.~~024393~~000000% 0.~~092928~~000000% 0.~~037166~~000000% 0.~~154487~~000000% 180+ Days 0.~~138889~~145243% 0.~~000000~~072622% 0.~~208333~~217865% 0.~~138889~~217865% 0.~~486111~~653595% 0.~~078821~~083157% 0.~~000000~~025736% 0.~~196052~~206839% 0.~~153101~~200735% 0.~~427973~~516466% Totals 01.~~972222~~016703% 0.~~208333~~217865% 0.~~277778~~363108% 0.~~208333~~217865% 1.~~666667~~815541% 10.~~008741~~843187% 0.~~173085~~182471% 0.~~288980~~373916% 0.~~190266~~200735% 1.~~661072~~600309%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 64 0 0 0 64 1639,~~549,287~~613.1500 0.00 0.00 0.00 1639,~~549,287~~613.1500 60 Days 23 1 0 0 34 ~~608~~305,~~198~~140.9824 152,949.98 0.00 0.00 ~~761~~458,~~148~~090.9622 90 Days 1 0 0 1 0 1 ~~352,298.97~~ 0.00 0.00 253,499.99 0.00 ~~352~~253,~~298~~499.9799 120 Days 01 0 0 0 01 0352,298.0097 0.00 0.00 0.00 0352,298.0097 150 Days 0 10 0 10 20 0.00 ~~94,500~~0.00 0.00 ~~143,979~~0.7400 ~~238,479~~0.7400 180 Days 2 01 3 23 79 305,350.00 094,500.00 759,503.46 ~~593~~737,~~109~~089.8963 1,~~657~~896,~~963~~443.3509 Totals 1110 2 34 3 19 21,~~815~~602,~~135~~402.1021 247,449.98 ~~759~~1,~~503~~013,003.4645 737,089.63 43,~~559~~599,~~178~~945.1727 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~564440~~389105% 0.000000% 0.000000% 0.000000% 0.~~564440~~389105% 0.~~648645~~277618% 0.000000% 0.000000% 0.000000% 0.~~648645~~277618% 60 Days 0.~~188147~~291829% 0.~~094073~~097276% 0.000000% 0.000000% 0.~~282220~~389105% 0.~~254637~~132443% 0.~~064036~~066387% 0.000000% 0.000000% 0.~~318673~~198830% 90 Days 0.~~094073~~000000% 0.000000% 0.~~000000~~097276% 0.000000% 0.~~094073~~097276% 0.~~147498~~000000% 0.000000% 0.~~000000~~110029% 0.000000% 0.~~147498~~110029% 120 Days 0.~~000000~~097276% 0.000000% 0.000000% 0.000000% 0.~~000000~~097276% 0.~~000000~~152912% 0.000000% 0.000000% 0.000000% 0.~~000000~~152912% 150 Days 0.000000% 0.~~094073~~000000% 0.000000% 0.~~094073~~000000% 0.~~188147~~000000% 0.000000% 0.~~039565~~000000% 0.000000% 0.~~060280~~000000% 0.~~099845~~000000% 180 Days 0.~~188147~~194553% 0.~~000000~~097276% 0.~~282220~~291829% 0.~~188147~~291829% 0.~~658514~~875486% 0.~~127842~~132534% 0.~~000000~~041017% 0.~~317984~~329655% 0.~~248319~~319927% 0.~~694145~~823134% Totals 10.~~034807~~972763% 0.~~188147~~194553% 0.~~282220~~389105% 0.~~282220~~291829% 1.~~787394~~848249% 10.~~178622~~695508% 0.~~103601~~107403% 0.~~317984~~439685% 0.~~308600~~319927% 1.~~908807~~562523% 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 1 0 0 1 ~~423~~422,~~080~~577.7026 0.00 0.00 ~~423~~422,~~080~~577.7026 30 Days 23 0 0 0 23 ~~713~~1,~~097~~114,542.3118 0.00 0.00 0.00 ~~713~~1,~~097~~114,542.3118 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 1 0 01 0 12 379,~~614~~206.8604 0.00 0360,000.00 0.00 ~~379~~739,~~614~~206.8604 150 Days 0 0 10 0 10 0.00 0.00 ~~360,000~~0.00 0.00 ~~360,000~~0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 34 1 1 0 56 1,~~092~~493,~~712~~748.1722 ~~423~~422,~~080~~577.7026 360,000.00 0.00 12,~~875~~276,~~792~~325.8748 0-29 Days 0.~~265252~~286533% 0.000000% 0.000000% 0.~~265252~~286533% 0.~~284809~~308895% 0.000000% 0.000000% 0.~~284809~~308895% 30 Days 0.~~530504~~859599% 0.000000% 0.000000% 0.000000% 0.~~530504~~859599% 0.~~480042~~814706% 0.000000% 0.000000% 0.000000% 0.~~480042~~814706% 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.~~265252~~286533% 0.000000% 0.~~000000~~286533% 0.000000% 0.~~265252~~573066% 0.~~255549~~277191% 0.000000% 0.~~000000~~263152% 0.000000% 0.~~255549~~540344% 150 Days 0.000000% 0.000000% 0.~~265252~~000000% 0.000000% 0.~~265252~~000000% 0.000000% 0.000000% 0.~~242344~~000000% 0.000000% 0.~~242344~~000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~795756~~146132% 0.~~265252~~286533% 0.~~265252~~286533% 0.000000% 1.~~326260~~719198% 01.~~735590~~091898% 0.~~284809~~308895% 0.~~242344~~263152% 0.000000% 1.~~262743~~663945%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3532,~~809~~613.0922

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~063644~~062615% Weighted Average Net Coupon 5.~~794058~~795217% Weighted Average Pass-Through Rate 5.~~693040~~692146% Weighted Average Maturity(Stepdown Calculation ) ~~338~~337 Beginning Scheduled Collateral Loan Count 1,~~521~~440 Number Of Loans Paid In Full 8163 Ending Scheduled Collateral Loan Count 1,~~440~~377 Beginning Scheduled Collateral Balance ~~413~~387,~~827~~191,~~183~~834.2644 Ending Scheduled Collateral Balance ~~387~~366,~~191~~993,~~834~~820.4434 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~387~~367,~~398~~196,~~659~~058.8661 Monthly P &I Constant 2,~~377~~220,~~035~~502.2557 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 ~~387~~366,~~191~~993,~~834~~820.4434 Scheduled Principal ~~285~~264,~~951~~340.2821 Unscheduled Principal 2619,~~349~~933,~~397~~673.5489 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,916,293.00 Overcollateralized Amount 2,916,293.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~314~~108,~~270~~000.5603

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~861978~~871205 6.~~374597~~370463 6.~~063644~~062615 Weighted Average Net Rate 5.~~653345~~663188 6.~~011026~~007563 5.~~794058~~795217 Weighted Average Maturity ~~349~~348 ~~326~~325 ~~338~~337 Beginning Loan Count 1,~~110~~063 ~~411~~377 1,~~521~~440 Loans Paid In Full 4735 3428 8163 Ending Loan Count 1,~~063~~028 ~~377~~349 1,~~440~~377 Beginning Scheduled Balance ~~251~~238,~~026~~747,~~094~~293.9370 ~~162~~148,~~801~~444,~~088~~540.3374 ~~413~~387,~~827~~191,~~183~~834.2644 Ending scheduled Balance ~~238~~230,~~747~~291,~~293~~264.7007 ~~148~~136,~~444~~702,~~540~~556.7427 ~~387~~366,~~191~~993,~~834~~820.4434 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant 1,~~337~~275,~~738~~303.5703 1945,~~039,296~~199.6854 2,~~377~~220,~~035~~502.2557 Scheduled Principal ~~111~~107,~~480~~191.7706 ~~174~~157,~~470~~149.5115 ~~285~~264,~~951~~340.2821 Unscheduled Principal 128,~~167~~348,~~320~~838.4657 1411,~~182~~584,~~077~~835.0832 2619,~~349~~933,~~397~~673.5489 Scheduled Interest 1,~~226~~168,~~257~~111.8097 ~~864~~788,~~826~~050.1739 21,~~091~~956,~~083~~162.9736 Servicing Fees 4341,~~643~~386.5929 4944,~~324~~892.8613 9286,~~968~~278.4542 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 3433,~~836~~256.7381 0.00 3433,~~836~~256.7381 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 1,~~147~~093,~~777~~468.4887 ~~815~~743,~~501~~158.3126 1,~~963~~836,~~278~~627.7913 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 5.~~486812~~496031 6.~~011026~~007563 5.~~693040~~692146

Filing Compare · BEAR STEARNS ALT A MORT PASS THR CERTS SER 2003-7