8-K 1 bst04007_nov.txt NOVEMBER 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): November 26, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115122-16 54-6636511 Pooling and Servicing Agreement) (Commission 54-6636512 (State or other File Number) 54-6636513 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 November 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2004-7 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 2004-7 Trust, relating to the November 26, 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 2004-7 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: 11/29/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the November 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 810/31/2004 Distribution Date: 911/2726/2004 BST Series: 2004-7 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 07384MX98 SEN 5.~~03600~~02064% ~~167~~160,~~936~~881,~~000~~105.0029 ~~704~~673,~~771~~104.4181 14,~~414~~939,~~990~~139.6720 I-A-2 07384MZ54 SEN 5.~~03600~~02064% 10,~~729~~278,~~000~~280.0088 4543,~~026~~002.0494 90315,~~400~~548.1293 II-A-1 07384MY22 SEN 4.~~86500~~86415% 9089,~~041~~443,~~000~~066.0088 ~~365~~362,~~041~~553.2254 ~~394~~1,~~162~~635,308.6834 II-X 07384MZ62 SEN 0.07850% 0.00 5,~~890~~851.1807 0.00 III-A 07384MY30 SEN 4.~~84300~~77774% 4137,~~038~~296,~~000~~296.0044 ~~165~~148,~~622~~493.5323 212,~~987,290~~487.7984 IV-A 07384MY48 SEN 3.~~22400~~20294% ~~171~~164,~~339~~921,~~000~~788.0070 ~~460~~440,~~330~~196.7804 13,~~165~~687,~~436~~487.9063 B-1 07384MY71 SUB 4.~~35700~~33912% 8,~~792~~778,~~000~~860.0021 31,~~922~~743.2977 6,~~519~~611.0071 B-2 07384MY89 SUB 4.~~35700~~33912% 4,~~773~~765,~~000~~866.0067 17,~~329~~233.9705 3,~~539~~589.0436 B-3 07384MY97 SUB 4.~~35700~~33912% 2,~~764~~759,~~000~~869.0016 109,~~035~~979.6250 2,~~049~~078.4257 B-4 07384MZ21 SUB 4.~~35700~~33912% 2,~~009~~005,~~000~~997.0052 7,~~294~~253.3455 1,~~489~~510.6180 B-5 07384MZ39 SUB 4.~~35700~~33912% 2,~~010~~006,~~000~~996.0002 7,~~297~~257.9816 1,~~490~~511.3555 B-6 07384MZ47 SUB 4.~~35700~~33912% 1,~~006~~004,~~094~~591.9634 3,~~652~~632.9653 ~~745~~756.9960 R-I 07384MY55 SEN 0.00000% 500.00 0.00 500.00 R-II 07384MY63 SEN 0.00000% 500.00 0.00 500.00 R-III 07384MZ70 SEN 0.00000% 500.00 0.0010 500.00 Totals ~~502~~484,~~437~~142,~~244~~719.9611 1,~~824~~750,~~215~~301.3229 610,~~068~~606,~~264~~030.5753

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~166~~155,~~521~~941,~~009~~966.3309 25,~~119~~612,~~762~~244.0801 0.00 I-A-2 0.00 109,~~638~~962,~~599~~731.8896 ~~135~~358,~~426~~551.1687 0.00 II-A-1 0.00 8987,~~646~~807,~~837~~758.3253 ~~759~~1,~~203~~997,861.9088 0.00 II-X 0.00 0.00 5,~~890~~851.1807 0.00 III-A 0.00 3837,~~050~~283,~~709~~808.2160 3160,~~152,913~~981.3207 0.00 IV-A 0.00 ~~170~~161,~~173~~234,~~563~~301.1007 14,~~625~~127,~~767~~683.6867 0.00 B-1 0.00 8,~~785~~772,~~481~~248.0051 38,~~441~~355.2948 0.00 B-2 0.00 4,~~769~~762,~~460~~277.9631 20,~~869~~822.0141 0.00 B-3 0.00 2,~~761~~757,~~950~~790.5859 12,~~085~~058.0407 0.00 B-4 0.00 2,~~007~~004,~~510~~486.3972 8,~~783~~764.9535 0.00 B-5 0.00 2,~~008~~005,~~509~~484.6547 8,~~788~~768.3371 0.00 B-6 0.00 1,~~005~~003,~~348~~834.9774 4,~~398~~389.9513 0.00 R-I 0.00 0.00 500.00 0.00 R-II 0.00 0.00 500.00 0.00 R-III 0.00 0.00 500.0010 0.00 Totals 0.00 ~~496~~473,~~368~~536,~~980~~688.3959 712,~~892~~356,~~479~~331.8982 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-1 167,936,000.00 ~~167~~160,~~936~~881,~~000~~105.0029 2830,~~217~~397.7661 14,~~386~~908,~~772~~741.9259 0.00 0.00 I-A-2 10,729,000.00 10,~~729~~278,~~000~~280.0088 1,~~802~~942.7603 88313,~~597~~606.3690 0.00 0.00 II-A-1 90,041,000.00 9089,~~041~~443,~~000~~066.0088 2627,~~922~~149.4737 ~~367~~1,~~240~~608,158.2197 0.00 0.00 II-X 0.00 0.00 0.00 0.00 0.00 0.00 III-A 41,038,000.00 4137,~~038~~296,~~000~~296.0044 1411,~~550~~561.6815 ~~2,972,740~~926.1169 0.00 0.00 IV-A 171,339,000.00 ~~171~~164,~~339~~921,~~000~~788.0070 ~~285~~278,~~223~~154.9532 ~~880~~3,~~212~~409,333.9531 0.00 0.00 B-1 8,792,000.00 8,~~792~~778,~~000~~860.0021 6,~~519~~611.0071 0.00 0.00 0.00 B-2 4,773,000.00 4,~~773~~765,~~000~~866.0067 3,~~539~~589.0436 0.00 0.00 0.00 B-3 2,764,000.00 2,~~764~~759,~~000~~869.0016 2,~~049~~078.4257 0.00 0.00 0.00 B-4 2,009,000.00 2,~~009~~005,~~000~~997.0052 1,~~489~~510.6180 0.00 0.00 0.00 B-5 2,010,000.00 2,~~010~~006,~~000~~996.0002 1,~~490~~511.3555 0.00 0.00 0.00 B-6 1,006,094.96 1,~~006~~004,~~094~~591.9634 ~~745~~756.9960 0.00 0.00 0.00 R-I 50.00 500.00 0.00 500.00 0.00 0.00 R-II 50.00 500.00 0.00 500.00 0.00 0.00 R-III 50.00 500.00 0.00 500.00 0.00 0.00 Totals 502,437,244.96 ~~502~~484,~~437~~142,~~244~~719.9611 ~~372~~365,~~551~~263.0307 510,~~695~~240,~~713~~767.5546 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 14,~~414~~939,~~990~~139.6720 ~~166~~155,~~521~~941,~~009~~966.3309 0.~~99157423~~92857973 14,~~414~~939,~~990~~139.6720 I-A-2 90315,~~400~~548.1293 109,~~638~~962,~~599~~731.8896 0.~~99157423~~92857973 90315,~~400~~548.1293 II-A-1 ~~394~~1,~~162~~635,308.6834 8987,~~646~~807,~~837~~758.3253 0.~~99562241~~97519750 ~~394~~1,~~162~~635,308.6834 II-X 0.00 0.00 0.00000000 0.00 III-A 212,~~987,290~~487.7984 3837,~~050~~283,~~709~~808.2160 0.~~92720672~~90851914 212,~~987,290~~487.7984 IV-A 13,~~165~~687,~~436~~487.9063 ~~170~~161,~~173~~234,~~563~~301.1007 0.~~99319806~~94102511 13,~~165~~687,~~436~~487.9063 B-1 6,~~519~~611.0071 8,~~785~~772,~~481~~248.0051 0.~~99925853~~99775347 6,~~519~~611.0071 B-2 3,~~539~~589.0436 4,~~769~~762,~~460~~277.9631 0.~~99925853~~99775347 3,~~539~~589.0436 B-3 2,~~049~~078.4257 2,~~761~~757,~~950~~790.5859 0.~~99925853~~99775347 2,~~049~~078.4257 B-4 1,~~489~~510.6180 2,~~007~~004,~~510~~486.3972 0.~~99925853~~99775347 1,~~489~~510.6180 B-5 1,~~490~~511.3555 2,~~008~~005,~~509~~484.6547 0.~~99925853~~99775347 1,~~490~~511.3555 B-6 ~~745~~756.9960 1,~~005~~003,~~348~~834.9774 0.~~99925853~~99775347 ~~745~~756.9960 R-I 500.00 0.00 0.00000000 500.00 R-II 500.00 0.00 0.00000000 500.00 R-III 500.00 0.00 0.00000000 500.00 Totals 610,~~068~~606,~~264~~030.5753 ~~496~~473,~~368~~536,~~980~~688.3959 0.~~98792234~~94247927 610,~~068~~606,~~264~~030.5753

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 167,936,000.00 ~~1000~~957.~~00000000~~99057552 0.~~16802687~~18100711 829.~~25774652~~22983512 0.00000000 I-A-2 10,729,000.00 ~~1000~~957.~~00000000~~99057508 0.~~16802684~~18100755 829.~~25774630~~22983503 0.00000000 II-A-1 90,041,000.00 ~~1000~~993.~~00000000~~35932386 0.~~29900234~~30152231 417.~~07858875~~86029664 0.00000000 II-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A 41,038,000.00 ~~1000~~908.~~00000000~~82344266 0.~~35456601~~28171816 720.~~43871802~~02258127 0.00000000 IV-A 171,339,000.00 ~~1000~~962.~~00000000~~54669807 1.~~66467617~~62341510 519.~~13725976~~89817444 0.00000000 B-1 8,792,000.00 ~~1000~~998.~~00000000~~50548339 0.~~74146952~~75201433 0.00000000 0.00000000 B-2 4,773,000.00 ~~1000~~998.~~00000000~~50548292 0.~~74147077~~75201341 0.00000000 0.00000000 B-3 2,764,000.00 ~~1000~~998.~~00000000~~50548480 0.~~74146889~~75201520 0.00000000 0.00000000 B-4 2,009,000.00 ~~1000~~998.~~00000000~~50548532 0.~~74146839~~75201593 0.00000000 0.00000000 B-5 2,010,000.00 ~~1000~~998.~~00000000~~50548259 0.~~74146766~~75201493 0.00000000 0.00000000 B-6 1,006,094.96 ~~1000~~998.~~00000000~~50548898 0.~~74147077~~75201649 0.00000000 0.00000000 R-I 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-II 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-III 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~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 829.~~42577333~~41084223 ~~991~~928.~~57422667~~57973329 0.~~99157423~~92857973 829.~~42577333~~41084223 I-A-2 0.00000000 829.~~42577314~~41084258 ~~991~~928.~~57422686~~57973343 0.~~99157423~~92857973 829.~~42577314~~41084258 II-A-1 0.00000000 418.~~37759110~~16181895 ~~995~~975.~~62240890~~19750480 0.~~99562241~~97519750 418.~~37759110~~16181895 II-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A 0.00000000 720.~~79328403~~30429943 ~~927~~908.~~20671597~~51914323 0.~~92720672~~90851914 720.~~79328403~~30429943 IV-A 0.00000000 621.~~80193593~~52158954 ~~993~~941.~~19806407~~02510853 0.~~99319806~~94102511 621.~~80193593~~52158954 B-1 0.00000000 0.~~74146952~~75201433 ~~999~~997.~~25853048~~75347020 0.~~99925853~~99775347 0.~~74146952~~75201433 B-2 0.00000000 0.~~74147077~~75201341 ~~999~~997.~~25852923~~75346952 0.~~99925853~~99775347 0.~~74147077~~75201341 B-3 0.00000000 0.~~74146889~~75201520 ~~999~~997.~~25853111~~75346961 0.~~99925853~~99775347 0.~~74146889~~75201520 B-4 0.00000000 0.~~74146839~~75201593 ~~999~~997.~~25853161~~75346939 0.~~99925853~~99775347 0.~~74146839~~75201593 B-5 0.00000000 0.~~74146766~~75201493 ~~999~~997.~~25853234~~75346766 0.~~99925853~~99775347 0.~~74146766~~75201493 B-6 0.00000000 0.~~74147077~~75201649 ~~999~~997.~~25852923~~75347250 0.~~99925853~~99775347 0.~~74147077~~75201649 R-I 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-II 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-III 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~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-1 167,936,000.00 5.~~03600~~02064% ~~167~~160,~~936~~881,~~000~~105.0029 ~~704~~673,~~771~~104.4181 0.00 0.00 I-A-2 10,729,000.00 5.~~03600~~02064% 10,~~729~~278,~~000~~280.0088 4543,~~026~~002.0494 0.00 0.00 II-A-1 90,041,000.00 4.~~86500~~86415% 9089,~~041~~443,~~000~~066.0088 ~~365~~362,~~041~~553.2254 0.00 0.00 II-X 0.00 0.07850% 9089,~~041~~443,~~000~~066.0088 5,~~890~~851.1807 0.00 0.00 III-A 41,038,000.00 4.~~84300~~77774% 4137,~~038~~296,~~000~~296.0044 ~~165~~148,~~622~~493.5323 0.00 0.00 IV-A 171,339,000.00 3.~~22400~~20294% ~~171~~164,~~339~~921,~~000~~788.0070 ~~460~~440,~~330~~196.7804 0.00 0.00 B-1 8,792,000.00 4.~~35700~~33912% 8,~~792~~778,~~000~~860.0021 31,~~922~~743.2977 0.00 0.00 B-2 4,773,000.00 4.~~35700~~33912% 4,~~773~~765,~~000~~866.0067 17,~~329~~233.9705 0.00 0.00 B-3 2,764,000.00 4.~~35700~~33912% 2,~~764~~759,~~000~~869.0016 109,~~035~~979.6250 0.00 0.00 B-4 2,009,000.00 4.~~35700~~33912% 2,~~009~~005,~~000~~997.0052 7,~~294~~253.3455 0.00 0.00 B-5 2,010,000.00 4.~~35700~~33912% 2,~~010~~006,~~000~~996.0002 7,~~297~~257.9816 0.00 0.00 B-6 1,006,094.96 4.~~35700~~33912% 1,~~006~~004,~~094~~591.9634 3,~~652~~632.9653 0.00 0.00 R-I 50.00 0.00000% 500.00 0.00 0.00 0.00 R-II 50.00 0.00000% 500.00 0.00 0.00 0.00 R-III 50.00 0.00000% 500.00 0.00 0.00 0.00 Totals 502,437,244.96 1,~~824~~750,~~215~~301.3219 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 ~~704~~673,~~771~~104.4181 0.00 ~~166~~155,~~521~~941,~~009~~966.3309 I-A-2 0.00 0.00 4543,~~026~~002.0494 0.00 109,~~638~~962,~~599~~731.8896 II-A-1 0.00 0.00 ~~365~~362,~~041~~553.2254 0.00 8987,~~646~~807,~~837~~758.3253 II-X 0.00 0.00 5,~~890~~851.1807 0.00 8987,~~646~~807,~~837~~758.3253 III-A 0.00 0.00 ~~165~~148,~~622~~493.5323 0.00 3837,~~050~~283,~~709~~808.2160 IV-A 0.00 0.00 ~~460~~440,~~330~~196.7804 0.00 ~~170~~161,~~173~~234,~~563~~301.1007 B-1 0.00 0.00 31,~~922~~743.2977 0.00 8,~~785~~772,~~481~~248.0051 B-2 0.00 0.00 17,~~329~~233.9705 0.00 4,~~769~~762,~~460~~277.9631 B-3 0.00 0.00 109,~~035~~979.6250 0.00 2,~~761~~757,~~950~~790.5859 B-4 0.00 0.00 7,~~294~~253.3455 0.00 2,~~007~~004,~~510~~486.3972 B-5 0.00 0.00 7,~~297~~257.9816 0.00 2,~~008~~005,~~509~~484.6547 B-6 0.00 0.00 3,~~652~~632.9653 0.00 1,~~005~~003,~~348~~834.9774 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.0010 0.00 0.00 Totals 0.00 0.00 1,~~824~~750,~~215~~301.3229 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-1 167,936,000.00 5.~~03600~~02064% ~~1000~~957.~~00000000~~99057552 4.~~19666665~~00810315 0.00000000 0.00000000 I-A-2 10,729,000.00 5.~~03600~~02064% ~~1000~~957.~~00000000~~99057508 4.~~19666698~~00810327 0.00000000 0.00000000 II-A-1 90,041,000.00 4.~~86500~~86415% ~~1000~~993.~~00000000~~35932386 4.~~05416666~~02653835 0.00000000 0.00000000 II-X 0.00 0.07850% ~~1000~~993.~~00000000~~35932386 0.~~06541664~~06498229 0.00000000 0.00000000 III-A 41,038,000.00 4.~~84300~~77774% ~~1000~~908.~~00000000~~82344266 43.~~03583337~~61843243 0.00000000 0.00000000 IV-A 171,339,000.00 3.~~22400~~20294% ~~1000~~962.~~00000000~~54669807 2.~~68666667~~56915262 0.00000000 0.00000000 B-1 8,792,000.00 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548339 3.~~63083371~~61052889 0.00000000 0.00000000 B-2 4,773,000.00 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548292 3.~~63083386~~61052797 0.00000000 0.00000000 B-3 2,764,000.00 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548480 3.~~63083213~~61052822 0.00000000 0.00000000 B-4 2,009,000.00 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548532 3.~~63083126~~61052763 0.00000000 0.00000000 B-5 2,010,000.00 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548259 3.~~63083582~~61052736 0.00000000 0.00000000 B-6 1,006,094.96 4.~~35700~~33912% ~~1000~~998.~~00000000~~50548898 3.~~63083023~~61052400 0.00000000 0.00000000 R-I 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000% ~~1000~~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 4.~~19666665~~00810315 0.00000000 ~~991~~928.~~57422667~~57973329 I-A-2 0.00000000 0.00000000 4.~~19666698~~00810327 0.00000000 ~~991~~928.~~57422686~~57973343 II-A-1 0.00000000 0.00000000 4.~~05416666~~02653835 0.00000000 ~~995~~975.~~62240890~~19750480 II-X 0.00000000 0.00000000 0.~~06541664~~06498229 0.00000000 ~~995~~975.~~62240890~~19750480 III-A 0.00000000 0.00000000 43.~~03583337~~61843243 0.00000000 ~~927~~908.~~20671597~~51914323 IV-A 0.00000000 0.00000000 2.~~68666667~~56915262 0.00000000 ~~993~~941.~~19806407~~02510853 B-1 0.00000000 0.00000000 3.~~63083371~~61052889 0.00000000 ~~999~~997.~~25853048~~75347020 B-2 0.00000000 0.00000000 3.~~63083386~~61052797 0.00000000 ~~999~~997.~~25852923~~75346952 B-3 0.00000000 0.00000000 3.~~63083213~~61052822 0.00000000 ~~999~~997.~~25853111~~75346961 B-4 0.00000000 0.00000000 3.~~63083126~~61052763 0.00000000 ~~999~~997.~~25853161~~75346939 B-5 0.00000000 0.00000000 3.~~63083582~~61052736 0.00000000 ~~999~~997.~~25853234~~75346766 B-6 0.00000000 0.00000000 3.~~63083023~~61052400 0.00000000 ~~999~~997.~~25852923~~75347250 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 02.00000000 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 712,~~976~~443,~~166~~764.5764 Liquidations, Insurance Proceeds, Reserve Funds ~~150~~0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1455,~~455~~290.5610 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 712,~~990~~499,~~772~~054.1374 Withdrawals Reimbursement for Servicer Advances 040,951.0095 Payment of Service Fee 98101,~~292~~770.2497 Payment of Interest and Principal 712,~~892~~356,~~479~~331.8982 Total Withdrawals (Pool Distribution Amount) 712,~~990~~499,~~772~~054.1374 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 97100,~~146~~863.3506 Miscellaneous Fee ~~1,145~~907.8991 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 98101,~~292~~770.2497

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Class R Reserve Fund ~~150~~0.00 ~~150~~0.00 0.00 0.00

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 315 0 0 0 315 39,~~496~~772,~~345~~817.4758 0.00 0.00 0.00 39,~~496~~772,~~345~~817.4758 60 Days 01 0 0 0 01 02,712,500.00 0.00 0.00 0.00 02,712,500.00 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 316 0 0 0 316 312,~~496~~485,~~345~~317.4758 0.00 0.00 0.00 312,~~496~~485,~~345~~317.4758 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~319829~~677852% 0.000000% 0.000000% 0.000000% 01.~~319829~~677852% 02.~~704006~~062567% 0.000000% 0.000000% 0.000000% 02.~~704006~~062567% 60 Days 0.~~000000~~111857% 0.000000% 0.000000% 0.000000% 0.~~000000~~111857% 0.~~000000~~572477% 0.000000% 0.000000% 0.000000% 0.~~000000~~572477% 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 01.~~319829~~789709% 0.000000% 0.000000% 0.000000% 01.~~319829~~789709% 02.~~704006~~635044% 0.000000% 0.000000% 0.000000% 02.~~704006~~635044%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 06 0 0 0 06 04,545,513.0028 0.00 0.00 0.00 04,545,513.0028 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 06 0 0 0 06 04,545,513.0028 0.00 0.00 0.00 04,545,513.0028 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~807229% 0.000000% 0.000000% 0.000000% 01.~~000000~~807229% 02.~~000000~~614442% 0.000000% 0.000000% 0.000000% 02.~~000000~~614442% 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 01.~~000000~~807229% 0.000000% 0.000000% 0.000000% 01.~~000000~~807229% 02.~~000000~~614442% 0.000000% 0.000000% 0.000000% 02.~~000000~~614442% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 35 0 0 0 35 3,~~496~~236,~~345~~385.4706 0.00 0.00 0.00 3,~~496~~236,~~345~~385.4706 60 Days 01 0 0 0 01 02,712,500.00 0.00 0.00 0.00 02,712,500.00 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 36 0 0 0 36 35,~~496~~948,~~345~~885.4706 0.00 0.00 0.00 35,~~496~~948,~~345~~885.4706 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 13.~~796407~~048780% 0.000000% 0.000000% 0.000000% 13.~~796407~~048780% 3.~~733007~~524682% 0.000000% 0.000000% 0.000000% 3.~~733007~~524682% 60 Days 0.~~000000~~609756% 0.000000% 0.000000% 0.000000% 0.~~000000~~609756% 02.~~000000~~954130% 0.000000% 0.000000% 0.000000% 02.~~000000~~954130% 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 13.~~796407~~658537% 0.000000% 0.000000% 0.000000% 13.~~796407~~658537% 36.~~733007~~478812% 0.000000% 0.000000% 0.000000% 36.~~733007~~478812% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 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 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 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 04 0 0 0 04 01,990,919.0024 0.00 0.00 0.00 01,990,919.0024 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 04 0 0 0 04 01,990,919.0024 0.00 0.00 0.00 01,990,919.0024 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~162791% 0.000000% 0.000000% 0.000000% 01.~~000000~~162791% 01.~~000000~~177882% 0.000000% 0.000000% 0.000000% 01.~~000000~~177882% 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 01.~~000000~~162791% 0.000000% 0.000000% 0.000000% 01.~~000000~~162791% 01.~~000000~~177882% 0.000000% 0.000000% 0.000000% 01.~~000000~~177882%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1455,~~455~~290.5610

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~231828~~590839% Weighted Average Net Coupon 34.~~999808~~340839% Weighted Average Pass-Through Rate 34.~~997071~~338589% Weighted Average Maturity(Stepdown Calculation ) ~~357~~355 Beginning Scheduled Collateral Loan Count ~~944~~915 Number Of Loans Paid In Full 621 Ending Scheduled Collateral Loan Count ~~938~~894 Beginning Scheduled Collateral Balance ~~502~~484,~~437~~142,~~244~~719.9602 Ending Scheduled Collateral Balance ~~496~~473,~~368~~536,~~980~~688.2950 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~496~~473,~~635~~818,~~795~~125.3628 Monthly P &I Constant 2,~~144~~217,~~407~~447.1450 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~372~~365,~~551~~263.0306 Unscheduled Principal 510,~~695~~240,~~563~~767.5546

Group Level Collateral Statement Group 1 2 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 45.~~325730~~277473 5.~~095851~~192648 5.~~092564~~027736 Weighted Average Net Rate 45.~~121808~~027473 4.~~850484~~942648 4.~~842564~~777736 Weighted Average Maturity ~~359~~357 ~~359~~357 ~~356~~354 Beginning Loan Count ~~358~~343 167 5654 Loans Paid In Full 11 3 0 1 Ending Loan Count ~~355~~332 ~~167~~164 5554 Beginning Scheduled Balance ~~186~~179,~~595~~087,~~588~~043.0446 9493,~~037~~437,~~775~~442.9695 4239,~~859~~116,~~535~~635.6701 Ending scheduled Balance ~~185~~173,~~088~~830,~~864~~857.7445 9391,~~642~~800,~~418~~922.2916 39,~~871~~103,~~599~~582.0390 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~703~~821,~~988~~443.1142 ~~427~~432,~~452~~684.8991 ~~197~~176,~~083~~015.9752 Scheduled Principal 3133,~~353~~837.0252 28,~~117~~361.4682 1512,~~196~~125.5342 Unscheduled Principal 15,~~475~~222,~~370~~348.2849 ~~367~~1,~~240~~608,158.2197 ~~2,972,740~~926.1169 Scheduled Interest ~~672~~787,~~635~~605.0990 ~~399~~404,~~335~~323.4309 ~~181~~163,~~887~~890.4410 Servicing Fees 3137,~~709~~309.1280 19,~~228~~466.1213 8,~~929~~149.0730 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 ~~1,145~~907.8991 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 ~~639~~749,~~780~~388.0819 ~~380~~384,~~107~~856.3196 ~~172~~155,~~958~~740.3780 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 45.~~114439~~021390 4.~~850484~~942648 4.~~842564~~777736

Group Level Collateral Statement Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~473696~~452944 4.~~231828~~590839 Weighted Average Net Rate 3.~~223696~~202944 34.~~999808~~340839 Weighted Average Maturity ~~352~~350 ~~357~~355 Beginning Loan Count ~~363~~351 ~~944~~915 Loans Paid In Full 27 621 Ending Loan Count ~~361~~344 ~~938~~894 Beginning Scheduled Balance ~~178~~172,~~944~~501,~~195~~597.2060 ~~502~~484,~~437~~142,~~094~~719.8702 Ending scheduled Balance ~~177~~168,~~766~~801,~~098~~325.2399 ~~496~~473,~~368~~536,~~980~~688.2950 Record Date 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~815~~787,~~882~~303.1765 2,~~144~~217,~~407~~447.1450 Scheduled Principal ~~297~~290,~~884~~938.0230 ~~372~~365,~~551~~263.0306 Unscheduled Principal ~~880~~3,~~212~~409,333.9531 510,~~695~~240,~~563~~767.5546 Scheduled Interest ~~517~~496,~~998~~365.1535 1,~~771~~852,~~856~~184.1144 Servicing Fees 3735,~~280~~937.0483 97100,~~146~~863.3506 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 ~~1,145~~907.8991 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 ~~480~~460,~~718~~427.1152 1,~~673~~750,~~563~~413.8747 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 3.~~223696~~202944 34.~~997071~~338589

Miscellaneous Reporting Group 1 Avearge Loss Severity % Group I 0.000000% Senior Percentage Group I 95.~~750000~~573294% Senior Prep. Percentage Group I 100.000000% Subordinate Percentage Group I 4.~~250000~~426706% Subordinate Prep. Percentage Group I 0.000000% Group 2 Avearge Loss Severity % Group II 0.000000% Senior Percentage Group II 95.~~750000~~725080% Senior Prep. Percentage Group II 100.000000% Subordinate Percentage Group II 4.~~250000~~274920% Subordinate Prep. Percentage Group II 0.000000% Group 3 Avearge Loss Severity % Group III 0.000000% Senior Percentage Group III 95.~~750000~~346383% Senior Prep. Percentage Group III 100.000000% Subordinate Percentage Group III 4.~~250000~~653617% Subordinate Prep. Percentage Group III 0.000000%

Miscellaneous Reporting Group 4 Avearge Loss Severity % Group IV 0.000000% Senior Percentage Group IV 95.~~750000~~605949% Senior Prep. Percentage Group IV 100.000000% Subordinate Percentage Group IV 4.~~250000~~394051% Subordinate Prep. Percentage Group IV 0.000000%

Filing Compare · BEAR STEARNS ARM TRUST, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-7