8-K 1 bst01007_sep.txt SEPT. 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 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 90-0031687 Pooling and Servicing Agreement) (Commission 90-0042382 (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 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 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 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: 9/29/04 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 September 27, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 78/31/~~2004~~04 Distribution Date: 89/2527/~~2004~~04 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.~~32604~~30019% 4,~~373~~347,~~051~~966.0178 15,~~765~~580.0091 2526,~~084~~707.2313 II-A 07384MGP1 SEN 2.~~69181~~74081% 43,~~917~~345,~~535~~200.6571 9899,~~514~~000.8290 ~~572~~1,~~334~~348,178.9433 III-A 07384MGU0 SEN 34.~~91375~~03520% 2423,~~035~~209,~~524~~504.9165 78,~~390~~045.8783 ~~826~~486,~~020~~430.2677 IV-A 07384MGQ9 SEN 7.~~13826~~13842% 1,~~481~~479,~~913~~794.6913 8,~~815~~802.2383 2,~~119~~106.5614 B-1 07384MGR7 SUB 3.~~88399~~96696% 3,~~432~~392,~~874~~531.9855 11,~~111~~215.0503 4036,~~343~~247.4392 B-2 07384MGS5 SUB 3.~~88399~~96696% 21,~~019~~995,~~443~~710.5487 6,~~536~~597.2642 2321,~~732~~323.6742 B-3 07384MGT3 SUB 3.~~88399~~96696% 1,~~413~~396,~~569~~956.1678 4,~~575~~618.2406 1614,~~612~~925.3896 B-4 07384MGV8 SUB 3.~~88399~~96696% ~~706~~698,~~819~~512.0141 2,~~287~~309.7314 87,~~306~~463.6034 B-5 07384MGW6 SUB 3.~~88399~~96696% ~~605~~598,~~805~~686.5204 1,~~960~~979.7914 76,~~119~~396.4873 B-6 07384MGX4 SUB 3.~~88399~~96696% ~~908~~898,~~909~~228.6911 2,~~941~~969.8336 109,~~681~~597.5823 R-I 07384MGM8 RES 6.~~36468~~36472% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36468~~36472% 0.00 0.00 0.00 Totals 8281,~~895~~363,~~447~~092.1603 ~~230~~231,~~898~~118.8262 1,~~532~~959,~~355~~376.1397

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 4,~~347~~321,~~966~~259.7865 4042,~~849~~288.2304 0.00 II-A 0.00 4341,~~345~~997,~~200~~022.7138 ~~670~~1,~~849~~447,179.7623 0.00 III-A 0.00 2322,~~209~~723,~~504~~073.6589 ~~904~~564,~~411~~476.1360 0.00 IV-A 0.00 1,~~479~~477,~~794~~687.1399 10,~~934~~908.7997 0.00 B-1 0.00 3,~~392~~356,~~531~~283.5564 5147,~~454~~462.4895 0.00 B-2 0.00 1,~~995~~974,~~710~~387.8745 3027,~~268~~920.9384 0.00 B-3 0.00 1,~~396~~382,~~956~~030.7882 2119,~~187~~544.6202 0.00 B-4 0.00 ~~698~~691,~~512~~049.4107 109,~~594~~772.3348 0.00 B-5 0.00 ~~598~~592,~~686~~289.0431 98,~~080~~375.2787 0.00 B-6 0.00 ~~898~~888,~~228~~630.1188 1312,~~623~~566.4159 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 8179,~~363~~403,~~092~~715.0308 12,~~763~~190,~~253~~495.9559 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,~~373~~347,~~051~~966.0178 20,~~635~~740.8873 45,~~448~~966.3540 0.00 0.00 II-A 59,270,500.00 43,~~917~~345,~~535~~200.6571 0.00 ~~572~~1,~~334~~348,178.9433 0.00 0.00 III-A 162,837,100.00 2423,~~035~~209,~~524~~504.9165 4846,~~986~~796.4357 ~~777~~439,~~033~~634.8219 0.00 0.00 IV-A 41,028,800.00 1,~~481~~479,~~913~~794.6913 1,~~887~~900.7656 ~~231~~205.8058 0.00 0.00 B-1 4,985,500.00 3,~~432~~392,~~874~~531.9855 5,~~392~~291.6132 3430,~~950~~956.8260 0.00 0.00 B-2 2,932,800.00 21,~~019~~995,~~443~~710.5487 3,~~172~~112.2970 2018,~~560~~210.3871 0.00 0.00 B-3 2,052,900.00 1,~~413~~396,~~569~~956.1678 2,~~220~~178.5483 1412,~~391~~747.8413 0.00 0.00 B-4 1,026,500.00 ~~706~~698,~~819~~512.0141 1,~~110~~089.3247 76,~~196~~373.2787 0.00 0.00 B-5 879,800.00 ~~605~~598,~~805~~686.5204 ~~951~~933.6477 65,~~167~~462.8397 0.00 0.00 B-6 1,319,993.00 ~~908~~898,~~909~~228.6911 1,~~427~~400.7896 98,~~253~~196.8026 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 8281,~~895~~363,~~447~~092.1603 8583,~~785~~444.2591 1,~~446~~875,~~569~~932.8504 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 2526,~~084~~707.2313 4,~~347~~321,~~966~~259.7865 0.~~25663986~~25506346 2526,~~084~~707.2313 II-A ~~572~~1,~~334~~348,178.9433 4341,~~345~~997,~~200~~022.7138 0.~~73131154~~70856535 ~~572~~1,~~334~~348,178.9433 III-A ~~826~~486,~~020~~430.2677 2322,~~209~~723,~~504~~073.6589 0.~~14253204~~13954482 ~~826~~486,~~020~~430.2677 IV-A 2,~~119~~106.5614 1,~~479~~477,~~794~~687.1399 0.~~03606720~~03601587 2,~~119~~106.5614 B-1 4036,~~343~~247.4392 3,~~392~~356,~~531~~283.5564 0.~~68047970~~67320903 4036,~~343~~247.4392 B-2 2321,~~732~~323.6742 1,~~995~~974,~~710~~387.8745 0.~~68047970~~67320903 2321,~~732~~323.6742 B-3 1614,~~612~~925.3896 1,~~396~~382,~~956~~030.7882 0.~~68047970~~67320903 1614,~~612~~925.3896 B-4 87,~~306~~463.6034 ~~698~~691,~~512~~049.4107 0.~~68047970~~67320903 87,~~306~~463.6034 B-5 76,~~119~~396.4873 ~~598~~592,~~686~~289.0431 0.~~68047970~~67320904 76,~~119~~396.4873 B-6 109,~~681~~597.5823 ~~898~~888,~~228~~630.1188 0.~~68047945~~67320878 109,~~681~~597.5823 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 1,~~532~~959,~~355~~376.1397 8179,~~363~~403,~~092~~715.0308 0.~~27742850~~27074750 1,~~532~~959,~~355~~376.1397

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 ~~258~~256.~~12045933~~63985621 1.~~21803812~~22422692 0.~~26256500~~35216829 0.00000000 II-A 59,270,500.00 ~~740~~731.~~96786175~~31154132 0.00000000 922.~~65632043~~74619465 0.00000000 III-A 162,837,100.00 ~~147~~142.~~60472220~~53204368 0.~~30083089~~28738273 42.~~77184757~~69984045 0.00000000 IV-A 41,028,800.00 36.~~11886504~~06720474 0.~~04601061~~04632258 0.~~00564969~~00501063 0.00000000 B-1 4,985,500.00 ~~688~~680.~~57185438~~47970113 1.~~08165881~~06134189 76.~~01049443~~20932705 0.00000000 B-2 2,932,800.00 ~~688~~680.~~57185625~~47970199 1.~~08165917~~06134070 76.~~01049509~~20932556 0.00000000 B-3 2,052,900.00 ~~688~~680.~~57185445~~47970189 1.~~08166009~~06134249 76.~~01049247~~20932827 0.00000000 B-4 1,026,500.00 ~~688~~680.~~57185582~~47969800 1.~~08165611~~06134437 76.~~01049196~~20932294 0.00000000 B-5 879,800.00 ~~688~~680.~~57185724~~47969993 1.~~08165492~~06134349 76.~~01049102~~20933167 0.00000000 B-6 1,319,993.00 ~~688~~680.~~57159849~~47944951 1.~~08165725~~06133896 76.~~01049172~~20932081 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 1.~~48060312~~57639521 ~~256~~255.~~63985621~~06346100 0.~~25663986~~25506346 1.~~48060312~~57639521 II-A 0.00000000 922.~~65632043~~74619465 ~~731~~708.~~31154132~~56534667 0.~~73131154~~70856535 922.~~65632043~~74619465 III-A 0.00000000 52.~~07267852~~98722324 ~~142~~139.~~53204368~~54482050 0.~~14253204~~13954482 52.~~07267852~~98722324 IV-A 0.00000000 0.~~05166030~~05133321 36.~~06720474~~01587153 0.~~03606720~~03601587 0.~~05166030~~05133321 B-1 0.00000000 87.~~09215324~~27066894 ~~680~~673.~~47970113~~20903420 0.~~68047970~~67320903 87.~~09215324~~27066894 B-2 0.00000000 87.~~09215426~~27066967 ~~680~~673.~~47970199~~20903232 0.~~68047970~~67320903 87.~~09215426~~27066967 B-3 0.00000000 87.~~09215256~~27067076 ~~680~~673.~~47970189~~20903113 0.~~68047970~~67320903 87.~~09215256~~27067076 B-4 0.00000000 87.~~09215782~~27066732 ~~680~~673.~~47969800~~20903069 0.~~68047970~~67320903 87.~~09215782~~27066732 B-5 0.00000000 87.~~09215731~~27066379 ~~680~~673.~~47969993~~20903614 0.~~68047970~~67320904 87.~~09215731~~27066379 B-6 0.00000000 87.~~09214897~~27066734 ~~680~~673.~~47944951~~20878217 0.~~68047945~~67320878 87.~~09214897~~27066734 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.~~32604~~30019% 4,~~373~~347,~~051~~966.0178 15,~~765~~580.0091 0.00 0.00 II-A 59,270,500.00 2.~~69181~~74081% 43,~~917~~345,~~535~~200.6571 9899,~~514~~000.8289 0.00 0.00 III-A 162,837,100.00 34.~~91375~~03520% 2423,~~035~~209,~~524~~504.9165 78,~~390~~045.8783 0.00 0.00 IV-A 41,028,800.00 7.~~13826~~13842% 1,~~481~~479,~~913~~794.6913 8,~~815~~802.2383 0.00 0.00 B-1 4,985,500.00 3.~~88399~~96696% 3,~~432~~392,~~874~~531.9855 11,~~111~~215.0503 0.00 0.00 B-2 2,932,800.00 3.~~88399~~96696% 21,~~019~~995,~~443~~710.5487 6,~~536~~597.2642 0.00 0.00 B-3 2,052,900.00 3.~~88399~~96696% 1,~~413~~396,~~569~~956.1678 4,~~575~~618.2506 0.00 0.00 B-4 1,026,500.00 3.~~88399~~96696% ~~706~~698,~~819~~512.0141 2,~~287~~309.7314 0.00 0.00 B-5 879,800.00 3.~~88399~~96696% ~~605~~598,~~805~~686.5204 1,~~960~~979.7914 0.00 0.00 B-6 1,319,993.00 3.~~88399~~96696% ~~908~~898,~~909~~228.6911 2,~~941~~969.8336 0.00 0.00 R-I 50.00 6.~~36468~~36472% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36468~~36472% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~230~~231,~~898~~118.8361 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 15,~~765~~580.0091 0.00 4,~~347~~321,~~966~~259.7865 II-A 0.00 0.00 9899,~~514~~000.8290 0.00 4341,~~345~~997,~~200~~022.7138 III-A 0.00 0.00 78,~~390~~045.8783 0.00 2322,~~209~~723,~~504~~073.6589 IV-A 0.00 0.00 8,~~815~~802.2383 0.00 1,~~479~~477,~~794~~687.1399 B-1 0.00 0.00 11,~~111~~215.0503 0.00 3,~~392~~356,~~531~~283.5564 B-2 0.00 0.00 6,~~536~~597.2642 0.00 1,~~995~~974,~~710~~387.8745 B-3 0.00 0.00 4,~~575~~618.2406 0.00 1,~~396~~382,~~956~~030.7882 B-4 0.00 0.00 2,~~287~~309.7314 0.00 ~~698~~691,~~512~~049.4107 B-5 0.00 0.00 1,~~960~~979.7914 0.00 ~~598~~592,~~686~~289.0431 B-6 0.00 0.00 2,~~941~~969.8336 0.00 ~~898~~888,~~228~~630.1188 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 ~~230~~231,~~898~~118.8262 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.~~32604~~30019% ~~258~~256.~~12045933~~63985621 0.~~93053318~~91966722 0.00000000 0.00000000 II-A 59,270,500.00 2.~~69181~~74081% ~~740~~731.~~96786175~~31154132 1.~~66212230~~67032318 0.00000000 0.00000000 III-A 162,837,100.00 34.~~91375~~03520% ~~147~~142.~~60472220~~53204368 0.~~48140669~~47928777 0.00000000 0.00000000 IV-A 41,028,800.00 7.~~13826~~13842% 36.~~11886504~~06720474 0.~~21485469~~21455246 0.00000000 0.00000000 B-1 4,985,500.00 3.~~88399~~96696% ~~688~~680.~~57185438~~47970113 2.~~22867315~~24952964 0.00000000 0.00000000 B-2 2,932,800.00 3.~~88399~~96696% ~~688~~680.~~57185625~~47970199 2.~~22867567~~24952946 0.00000000 0.00000000 B-3 2,052,900.00 3.~~88399~~96696% ~~688~~680.~~57185445~~47970189 2.~~22867651~~24952993 0.00000000 0.00000000 B-4 1,026,500.00 3.~~88399~~96696% ~~688~~680.~~57185582~~47969800 2.~~22867024~~24952752 0.00000000 0.00000000 B-5 879,800.00 3.~~88399~~96696% ~~688~~680.~~57185724~~47969993 2.~~22867697~~24953398 0.00000000 0.00000000 B-6 1,319,993.00 3.~~88399~~96696% ~~688~~680.~~57159849~~47944951 2.~~22867091~~24952708 0.00000000 0.00000000 R-I 50.00 6.~~36468~~36472% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36468~~36472% 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.~~93053318~~91966722 0.00000000 ~~256~~255.~~63985621~~06346100 II-A 0.00000000 0.00000000 1.~~66212230~~67032335 0.00000000 ~~731~~708.~~31154132~~56534667 III-A 0.00000000 0.00000000 0.~~48140669~~47928777 0.00000000 ~~142~~139.~~53204368~~54482050 IV-A 0.00000000 0.00000000 0.~~21485469~~21455246 0.00000000 36.~~06720474~~01587153 B-1 0.00000000 0.00000000 2.~~22867315~~24952964 0.00000000 ~~680~~673.~~47970113~~20903420 B-2 0.00000000 0.00000000 2.~~22867567~~24952946 0.00000000 ~~680~~673.~~47970199~~20903232 B-3 0.00000000 0.00000000 2.~~22867164~~24952993 0.00000000 ~~680~~673.~~47970189~~20903113 B-4 0.00000000 0.00000000 2.~~22867024~~24952752 0.00000000 ~~680~~673.~~47969800~~20903069 B-5 0.00000000 0.00000000 2.~~22867697~~24953398 0.00000000 ~~680~~673.~~47969993~~20903614 B-6 0.00000000 0.00000000 2.~~22867091~~24952708 0.00000000 ~~680~~673.~~47944951~~20878217 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 12,~~790~~218,~~360~~114.4797 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 97,~~832~~752.5687 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 12,~~800~~225,~~193~~867.0384 Withdrawals Reimbursement for Servicer Advances 109,~~920~~832.3656 Payment of Service Fee 2625,~~018~~539.7269 Payment of Interest and Principal 12,~~763~~190,~~253~~495.9559 Total Withdrawals (Pool Distribution Amount) 12,~~800~~225,~~193~~867.0384 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2625,~~018~~539.7269 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2625,~~018~~539.7269

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,~~784~~708.7509 0.00 0.00 75,~~784~~708.7509 30 Days 31 0 0 0 3 1 216,~~241,997~~296.4916 0.00 0.00 0.00 1216,~~241,997~~296.4916 60 Days 01 0 0 0 01 0107,887.0063 0.00 0.00 0.00 0107,887.0063 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 10 0 0 0 10 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 180+ Days 0 0 1 1 2 0.00 0.00 ~~106~~462,~~160~~078.4123 488,261.79 ~~594~~950,~~422~~340.2002 Totals 42 1 1 1 75 1324,~~704,075~~183.7279 75,~~784~~708.7509 ~~106~~462,~~160~~078.4123 488,261.79 21,~~374~~350,~~282~~231.6790 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.~~485437~~492611% 0.000000% 0.000000% 0.~~485437~~492611% 0.~~093052~~095249% 0.000000% 0.000000% 0.~~093052~~095249% 30 Days 10.~~456311~~492611% 0.000000% 0.000000% 0.000000% 10.~~456311~~492611% 10.~~524979~~272123% 0.000000% 0.000000% 0.000000% 10.~~524979~~272123% 60 Days 0.~~000000~~492611% 0.000000% 0.000000% 0.000000% 0.~~000000~~492611% 0.~~000000~~135734% 0.000000% 0.000000% 0.000000% 0.~~000000~~135734% 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.~~485437~~000000% 0.000000% 0.000000% 0.000000% 0.~~485437~~000000% 0.~~567360~~000000% 0.000000% 0.000000% 0.000000% 0.~~567360~~000000% 180+ Days 0.000000% 0.000000% 0.~~485437~~492611% 0.~~485437~~492611% 0.~~970874~~985222% 0.000000% 0.000000% 0.~~130348~~581343% 0.~~599509~~614285% 01.~~729857~~195628% Totals 10.~~941748~~985222% 0.~~485437~~492611% 0.~~485437~~492611% 0.~~485437~~492611% 32.~~398058~~463054% 20.~~092338~~407857% 0.~~093052~~095249% 0.~~130348~~581343% 0.~~599509~~614285% 21.~~915248~~698734%

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 21 0 0 0 21 ~~182~~216,~~996~~296.3416 0.00 0.00 0.00 ~~182~~216,~~996~~296.3416 60 Days 01 0 0 0 01 0107,887.0063 0.00 0.00 0.00 0107,887.0063 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 ~~182~~324,~~996~~183.3479 0.00 0.00 0.00 ~~182~~324,~~996~~183.3479 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 63.~~250000~~125000% 0.000000% 0.000000% 0.000000% 63.~~250000~~125000% 34.~~724061~~429317% 0.000000% 0.000000% 0.000000% 34.~~724061~~429317% 60 Days 03.~~000000~~125000% 0.000000% 0.000000% 0.000000% 03.~~000000~~125000% 02.~~000000~~209325% 0.000000% 0.000000% 0.000000% 02.~~000000~~209325% 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% 36.~~724061~~638642% 0.000000% 0.000000% 0.000000% 36.~~724061~~638642% 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 10 0 0 0 10 ~~1,059,001~~0.1500 0.00 0.00 0.00 ~~1,059,001~~0.1500 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 10 0 0 0 10 ~~1,059,001~~0.1500 0.00 0.00 0.00 ~~1,059,001~~0.1500 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~052632~~000000% 0.000000% 0.000000% 0.000000% 10.~~052632~~000000% 20.~~310427~~000000% 0.000000% 0.000000% 0.000000% 20.~~310427~~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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 10.~~052632~~000000% 0.000000% 0.000000% 0.000000% 10.~~052632~~000000% 20.~~310427~~000000% 0.000000% 0.000000% 0.000000% 20.~~310427~~000000% 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 10 0 0 0 10 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 180 Days 0 0 0 1 1 2 0.00 0.00 0462,078.0023 488,261.79 ~~488~~950,~~261~~340.7902 Totals 1 0 0 1 1 2 ~~462,078.23~~ 0.00 0.00 462,078.23 488,261.79 950,340.02 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 10.~~428571~~000000% 0.000000% 0.000000% 0.000000% 10.~~428571~~000000% 10.~~626172~~000000% 0.000000% 0.000000% 0.000000% 10.~~626172~~000000% 180 Days 0.000000% 0.000000% ~~0.000000%~~ 1.~~428571~~449275% 1.~~428571~~449275% 02.~~000000~~898551% 0.000000% 0.000000% 1.~~718318~~657554% 1.~~718318~~751479% ~~Totals 1~~3.~~428571~~409034% Totals 0.000000% 0.000000% 1.~~428571~~449275% 21.~~857143~~449275% 12.~~626172~~898551% 0.000000% 0.000000% 1.~~718318~~657554% 1.751479% 3.~~344490~~409034% 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,~~784~~708.7509 0.00 0.00 75,~~784~~708.7509 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 10 0 10 0.00 0.00 ~~106,160~~0.4100 0.00 ~~106,160~~0.4100 Totals 0 1 10 0 21 0.00 75,~~784~~708.7509 ~~106,160~~0.4100 0.00 ~~181~~75,~~945~~708.1609 0-29 Days 11.111111% 0.000000% 0.000000% 11.111111% 3.~~325540~~328865% 0.000000% 0.000000% 3.~~325540~~328865% 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% 110.~~111111~~000000% 0.000000% 110.~~111111~~000000% 0.000000% 0.000000% 40.~~658466~~000000% 0.000000% 40.~~658466~~000000% Totals 0.000000% 11.111111% 110.~~111111~~000000% 0.000000% 2211.~~222222~~111111% 0.000000% 3.~~325540~~328865% 40.~~658466~~000000% 0.000000% 73.~~984006~~328865%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 97,~~832~~752.5687

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 7775,~~015~~082,~~125~~455.2543 94.~~65609445~~55786213% 5.~~343906~~442138% 0.000000% Class 2A 217,063,493.00 74.01341132% 33,~~669~~085,~~924~~433.5405 41.~~38230701~~66736155% 5352.~~273787~~890501% ~~482~~472.~~652344~~690790% Class 3A 54,226,393.00 18.48989102% 10,~~460~~362,~~419~~359.8916 1213.~~85646800~~05021956% 28.~~525839~~617142% ~~258~~255.~~439726~~755936% Class R-I 13,197,543.00 4.50004358% 8,~~980~~884,~~625~~671.7617 11.~~03771444~~18923864% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 8,~~980~~884,~~625~~671.7617 11.~~03771444~~18923864% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 5,~~588~~528,~~094~~387.2153 6.~~86809470~~96237893% 4.~~169620~~226860% 37.776115% Class B-2 5,279,193.00 1.80007738% 3,~~592~~554,~~383~~000.3408 4.~~41524929~~47586121% 2.~~452845~~486518% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~195~~171,~~426~~969.5626 2.~~69830768~~73534967% 1.~~716942~~740512% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~496~~480,~~914~~920.1519 1.~~83979506~~86505151% 0.~~858513~~870298% 7.777993% Class B-5 1,319,993.00 0.45008575% ~~898~~888,~~228~~630.1188 1.~~10397490~~11913011% 0.~~735820~~745921% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~103975~~119130% 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.~~719156~~785377% Weighted Average Net Coupon 3.~~342507~~408700% Weighted Average Pass-Through Rate 3.~~342507~~408700% Weighted Average Maturity(Stepdown Calculation ) ~~321~~320 Beginning Scheduled Collateral Loan Count ~~210~~206 Number Of Loans Paid In Full 43 Ending Scheduled Collateral Loan Count ~~206~~203 Beginning Scheduled Collateral Balance 8281,~~895~~363,~~447~~092.1604 Ending Scheduled Collateral Balance 8179,~~363~~403,~~092~~715.0408 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 8179,~~443~~484,~~598~~594.2642 Monthly P &I Constant ~~342~~340,~~702~~103.8124 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 12,~~627~~064,~~044~~852.9284 Ending Scheduled Balance for Premium Loans 8179,~~363~~403,~~092~~715.0408 Scheduled Principal 8583,~~785~~444.2692 Unscheduled Principal 1,~~446~~875,~~569~~932.8604

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.~~701041~~675193 3.~~066813~~115813 4.~~288750~~410200 Weighted Average Net Rate 4.~~326041~~300195 2.~~691813~~740813 34.~~913750~~035200 Weighted Average Maturity ~~254~~253 ~~266~~265 ~~321~~320 Beginning Loan Count 32 9795 7270 Loans Paid In Full 0 2 21 Ending Loan Count 32 9593 7069 Beginning Scheduled Balance 4,~~921~~893,~~665~~729.1148 4645,~~423~~835,~~953~~739.5181 2928,~~272~~359,~~106~~083.8241 Ending scheduled Balance 4,~~893~~864,~~729~~066.4860 4544,~~835~~449,~~739~~911.8116 2827,~~359~~818,~~083~~368.4136 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant 42,~~505~~410.5108 ~~118~~119,~~644~~012.6598 ~~164~~161,~~276~~403.3386 Scheduled Principal 23,~~224~~344.7214 0.00 5957,~~659~~179.0350 Unscheduled Principal 46,~~710~~318.9174 ~~588~~1,~~213~~385,828.7065 ~~853~~483,~~364~~535.3855 Scheduled Interest 19,~~280~~065.7994 ~~118~~119,~~644~~012.6598 104,~~617~~224.3036 Servicing Fees 1,~~538~~529.0228 14,~~507~~323.4967 98,~~147~~862.5422 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 17,~~742~~536.7766 104,~~137~~689.1631 95,~~469~~362.7614 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.~~326041~~300193 2.~~691813~~740813 34.~~913750~~035200

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~573257~~573423 3.~~719156~~785377 Weighted Average Net Rate 7.~~138259~~138423 3.~~342507~~408700 Weighted Average Maturity ~~321~~320 ~~321~~320 Beginning Loan Count 9 ~~210~~206 Loans Paid In Full 0 43 Ending Loan Count 9 ~~206~~203 Beginning Scheduled Balance 2,~~277~~274,~~721~~539.7234 8281,~~895~~363,~~447~~092.1604 Ending scheduled Balance 2,~~274~~271,~~539~~368.3496 8179,~~363~~403,~~092~~715.0408 Record Date 0708/31/2004 0708/31/2004 Principal And Interest Constant 17,276.32 ~~342~~340,~~702~~103.8124 Scheduled Principal 2,~~901~~921.5128 8583,~~785~~444.2692 Unscheduled Principal ~~280~~249.8710 1,~~446~~875,~~569~~932.8604 Scheduled Interest 14,~~374~~355.8104 256,~~917~~658.5532 Servicing Fees ~~825~~824.6752 2625,~~018~~539.7269 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,~~549~~530.1452 ~~230~~231,~~898~~118.8363 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.~~138257~~138423 3.~~342507~~408700

Miscellaneous Reporting Group Group I Senior Percentage Group I 88.~~853079~~847714% Senior Prep. Percentage Group I 94.~~426540~~423857% Subordinate Percentage Group I 11.~~146921~~152286% Subordinate Prep. Percentage Group I 5.~~573460~~576143% Group Group II Senior Percentage Group II 94.~~601025~~566382% Senior Prep. Percentage Group II 97.~~300512~~283191% Subordinate Percentage Group II 5.~~398975~~433618% Subordinate Prep. Percentage Group II 2.~~699488~~716809% Group Group III Senior Percentage Group III 8281.~~110676~~841519% Senior Prep. Percentage Group III 9190.~~055338~~920760% Subordinate Percentage Group III 1718.~~889324~~158481% Subordinate Prep. Percentage Group III 89.~~944662~~079240%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 65.~~061227~~059069% Senior Prep. Percentage Group IV 82.~~530613~~529535% Subordinate Percentage Group IV 34.~~938773~~940931% Subordinate Prep. Percentage Group IV 17.~~469387~~470465%

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