8-K 1 bst02002_nov.txt NOVEMBER 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): November 26, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-21 45-0470721 Pooling and Servicing Agreement) (Commission 45-0470722 (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 November 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-2 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 2002-2 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 2002-2 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: 12/2/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the November 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 810/31/042004 Distribution Date: 911/2726/042004 BST Series: 2002-2 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 07384MJB9 SEN 23.~~90539~~10783% 7674,~~185~~636,~~144~~484.8670 ~~184~~193,~~456~~297.4273 ~~869~~940,~~119~~025.0689 II-A 07384MJE3 SEN 4.~~55643~~30336% 43,~~286~~786,~~404~~158.0562 1613,~~275~~577.5966 7657,~~199~~692.7013 III-A 07384MJF0 SEN 6.~~93624~~93638% 3,~~011~~004,~~978~~946.7140 17,~~409~~369.8353 3,~~505~~548.5410 R-1 07384MJC7 RES 3.~~62379~~62302% 0.00 0.00 0.00 R-2 07384MJD5 RES 3.~~62379~~62302% 0.00 0.00 0.00 B-1 07384MJG8 SUB 4.~~24671~~31360% 3,~~835~~772,~~191~~941.0323 13,~~572~~562.4448 1467,~~042~~240.9643 B-2 07384MJH6 SUB 4.~~24671~~31360% 1,~~726~~697,~~014~~999.5625 6,~~108~~103.2375 630,~~319~~261.9832 B-3 07384MJJ2 SUB 4.~~24671~~31360% 1,~~150~~131,~~541~~866.0740 4,~~071~~068.6769 420,~~212~~171.8384 B-4 07384MJT0 SUB 4.~~24671~~31360% ~~767~~754,~~054~~604.4422 2,~~714~~712.55 213,~~808~~448.6537 B-5 07384MJU7 SUB 4.~~24671~~31360% ~~575~~565,~~229~~893.9527 2,~~035~~034.6920 210,~~106~~085.2721 B-6 07384MJV5 SUB 4.~~24671~~31360% ~~525~~502,~~734~~390.1508 1,~~860~~805.5393 18,~~925~~953.0347 Totals 9289,~~063~~853,~~292~~284.8217 ~~248~~254,~~504~~532.9552 ~~911~~1,~~240~~751,426.0276

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 7573,~~316~~696,~~025~~458.8081 1,~~053~~133,~~575~~323.4862 0.00 II-A 0.00 43,~~279~~128,~~204~~466.3549 23671,~~475~~269.2979 0.00 III-A 0.00 3,~~008~~001,~~473~~398.1629 20,~~915~~917.3763 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 B-1 0.00 3,~~821~~705,~~148~~700.0880 2780,~~615~~802.4091 0.00 B-2 0.00 1,~~719~~667,~~694~~737.5792 1236,~~428~~365.2107 0.00 B-3 0.00 1,~~146~~111,~~328~~694.2555 824,~~284~~240.5053 0.00 B-4 0.00 ~~764~~741,~~245~~155.7985 516,~~523~~160.2092 0.00 B-5 0.00 ~~573~~555,~~123~~808.6806 412,~~141~~119.9641 0.00 B-6 ~~15,000~~0.00 ~~508~~493,~~809~~436.1261 310,~~785~~759.5640 66,402.68 Totals ~~15,000~~0.00 9188,~~137~~101,~~052~~857.8038 12,~~159~~005,~~744~~959.9728 66,402.68 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 106,205,800.00 7674,~~185~~636,~~144~~484.8670 0.00 ~~869~~940,~~119~~025.0689 0.00 0.00 II-A 48,612,400.00 43,~~286~~786,~~404~~158.0562 76,~~199~~645.7052 0651,046.0060 0.00 0.00 III-A 70,774,500.00 3,~~011~~004,~~978~~946.7140 3,~~505~~548.5410 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 B-1 4,724,400.00 3,~~835~~772,~~191~~941.0323 2,~~419~~426.0975 1164,~~623~~813.8768 0.00 0.00 B-2 2,126,200.00 1,~~726~~697,~~014~~999.5625 1,~~088~~092.7015 529,~~231~~169.2818 0.00 0.00 B-3 1,417,300.00 1,~~150~~131,~~541~~866.0740 ~~725~~728.7201 319,~~487~~443.1183 0.00 0.00 B-4 944,900.00 ~~767~~754,~~054~~604.4422 ~~483~~485.8336 212,~~324~~963.8201 0.00 0.00 B-5 708,600.00 ~~575~~565,~~229~~893.9527 ~~362~~363.8398 19,~~743~~721.4323 0.00 0.00 B-6 708,866.18 ~~525~~502,~~734~~390.1508 ~~331~~323.6114 18,~~593~~630.4234 0.00 ~~15,000~~0.00 Totals 236,223,066.18 9289,~~063~~853,~~292~~284.8217 1615,~~117~~613.0201 ~~895~~1,~~122~~735,813.9976 0.00 ~~15,000~~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 ~~869~~940,~~119~~025.0689 7573,~~316~~696,~~025~~458.8081 0.~~70915172~~69390239 ~~869~~940,~~119~~025.0689 II-A 7657,~~199~~692.7013 43,~~279~~128,~~204~~466.3549 0.~~08802701~~06435532 7657,~~199~~692.7013 III-A 3,~~505~~548.5410 3,~~008~~001,~~473~~398.1629 0.~~04250787~~04240791 3,~~505~~548.5410 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 B-1 1467,~~042~~240.9643 3,~~821~~705,~~148~~700.0880 0.~~80881129~~78437490 1467,~~042~~240.9643 B-2 630,~~319~~261.9832 1,~~719~~667,~~694~~737.5792 0.~~80881129~~78437490 630,~~319~~261.9832 B-3 420,~~212~~171.8384 1,~~146~~111,~~328~~694.2555 0.~~80881130~~78437490 420,~~212~~171.8384 B-4 213,~~808~~448.6537 ~~764~~741,~~245~~155.7985 0.~~80881129~~78437491 213,~~808~~448.6537 B-5 210,~~106~~085.2721 ~~573~~555,~~123~~808.6806 0.~~80881129~~78437491 210,~~106~~085.2721 B-6 168,~~925~~953.0347 ~~508~~493,~~809~~436.1261 0.~~71777881~~69609275 18,~~925~~953.0347 Totals ~~926~~1,~~240~~751,426.0276 9188,~~137~~101,~~052~~857.8038 0.~~38580929~~37296043 ~~911~~1,~~240~~751,426.0276

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 106,205,800.00 ~~717~~702.~~33506889~~75337788 0.00000000 8.~~18334837~~85098450 0.00000000 II-A 48,612,400.00 8877.~~17511684~~88462656 0.~~14810419~~13670422 013.~~00000000~~39260353 0.00000000 III-A 70,774,500.00 42.~~55740005~~45803785 0.~~04953112~~05013246 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 ~~811~~798.~~78372492~~60749090 0.~~51204174~~51366311 213.~~46039074~~71892304 0.00000000 B-2 2,126,200.00 ~~811~~798.~~78372684~~60749224 0.~~51204026~~51366287 213.~~46038943~~71892578 0.00000000 B-3 1,417,300.00 ~~811~~798.~~78372257~~60749312 0.~~51204403~~51365978 213.~~46038947~~71892330 0.00000000 B-4 944,900.00 ~~811~~798.~~78372315~~60749286 0.~~51204360~~51366282 213.~~46038734~~71892264 0.00000000 B-5 708,600.00 ~~811~~798.~~78372848~~60749365 0.~~51203782~~51366074 213.~~46038668~~71892464 0.00000000 B-6 708,866.18 ~~741~~708.~~65500462~~72344340 0.~~46780339~~45585473 212.~~24784317~~17485083 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 0.00000000 8.~~18334837~~85098450 ~~709~~693.~~15172053~~90239337 0.~~70915172~~69390239 8.~~18334837~~85098450 II-A 0.00000000 013.~~14810419~~52930795 8864.~~02701266~~35531860 0.~~08802701~~06435532 013.~~14810419~~52930795 III-A 0.00000000 0.~~04953112~~05013246 42.~~50786879~~40790525 0.~~04250787~~04240791 0.~~04953112~~05013246 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 214.~~97243248~~23258615 ~~808~~784.~~81129456~~37490475 0.~~80881129~~78437490 214.~~97243248~~23258615 B-2 0.00000000 214.~~97242969~~23258395 ~~808~~784.~~81129245~~37490358 0.~~80881129~~78437490 214.~~97242969~~23258395 B-3 0.00000000 214.~~97243350~~23258308 ~~808~~784.~~81129613~~37490298 0.~~80881130~~78437490 214.~~97243350~~23258308 B-4 0.00000000 214.~~97243095~~23258546 ~~808~~784.~~81129220~~37490740 0.~~80881129~~78437491 214.~~97243095~~23258546 B-5 0.00000000 214.~~97243861~~23258538 ~~808~~784.~~81128987~~37490827 0.~~80881129~~78437491 214.~~97243861~~23258538 B-6 210.~~16055248~~00000000 2312.~~87619903~~63069145 ~~717~~696.~~77880558~~09275195 0.~~71777881~~69609275 212.~~71564656~~63069145 (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 106,205,800.00 23.~~90539~~10783% 7674,~~185~~636,~~144~~484.8670 ~~184~~193,~~456~~297.4273 0.00 0.00 II-A 48,612,400.00 4.~~55643~~30336% 43,~~286~~786,~~404~~158.0562 1613,~~275~~577.5966 0.00 0.00 III-A 70,774,500.00 6.~~93624~~93638% 3,~~011~~004,~~978~~946.7140 17,~~409~~369.8353 0.00 0.00 R-1 50.00 3.~~62379~~62302% 0.00 0.00 0.00 0.00 R-2 50.00 3.~~62379~~62302% 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4.~~24671~~31360% 3,~~835~~772,~~191~~941.0323 13,~~572~~562.4448 0.00 0.00 B-2 2,126,200.00 4.~~24671~~31360% 1,~~726~~697,~~014~~999.5625 6,~~108~~103.2375 0.00 0.00 B-3 1,417,300.00 4.~~24671~~31360% 1,~~150~~131,~~541~~866.0740 4,~~071~~068.6769 0.00 0.00 B-4 944,900.00 4.~~24671~~31360% ~~767~~754,~~054~~604.4422 2,~~714~~712.55 0.00 0.00 B-5 708,600.00 4.~~24671~~31360% ~~575~~565,~~229~~893.9527 2,~~035~~034.6920 0.00 0.00 B-6 708,866.18 4.~~24671~~31360% ~~525~~502,~~734~~390.1508 1,~~860~~805.5393 0.00 0.00 Totals 236,223,066.18 ~~248~~254,~~504~~532.9552 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 ~~184~~193,~~456~~297.4273 0.00 7573,~~316~~696,~~025~~458.8081 II-A 0.00 0.00 1613,~~275~~577.5966 0.00 43,~~279~~128,~~204~~466.3549 III-A 0.00 0.00 17,~~409~~369.8353 0.00 3,~~008~~001,~~473~~398.1629 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 13,~~572~~562.4448 0.00 3,~~821~~705,~~148~~700.0880 B-2 0.00 0.00 6,~~108~~103.2375 0.00 1,~~719~~667,~~694~~737.5792 B-3 0.00 0.00 4,~~071~~068.6769 0.00 1,~~146~~111,~~328~~694.2555 B-4 0.00 0.00 2,~~714~~712.55 0.00 ~~764~~741,~~245~~155.7985 B-5 0.00 0.00 2,~~035~~034.6920 0.00 ~~573~~555,~~123~~808.6806 B-6 0.00 0.00 1,~~860~~805.5393 0.00 ~~508~~493,~~809~~436.1261 Totals 0.00 0.00 ~~248~~254,~~504~~532.9552 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 106,205,800.00 23.~~90539~~10783% ~~717~~702.~~33506889~~75337788 1.~~73678293~~82002989 0.00000000 0.00000000 II-A 48,612,400.00 4.~~55643~~30336% 8877.~~17511684~~88462656 0.~~33480326~~27930446 0.00000000 0.00000000 III-A 70,774,500.00 6.~~93624~~93638% 42.~~55740005~~45803785 0.~~24599015~~24542074 0.00000000 0.00000000 R-1 50.00 3.~~62379~~62302% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 3.~~62379~~62302% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 4.~~24671~~31360% ~~811~~798.~~78372492~~60749090 2.~~87283888~~87073067 0.00000000 0.00000000 B-2 2,126,200.00 4.~~24671~~31360% ~~811~~798.~~78372684~~60749224 2.~~87283887~~87073182 0.00000000 0.00000000 B-3 1,417,300.00 4.~~24671~~31360% ~~811~~798.~~78372257~~60749312 2.~~87283567~~87073308 0.00000000 0.00000000 B-4 944,900.00 4.~~24671~~31360% ~~811~~798.~~78372315~~60749286 2.~~87284369~~87072706 0.00000000 0.00000000 B-5 708,600.00 4.~~24671~~31360% ~~811~~798.~~78372848~~60749365 2.~~87283376~~87073102 0.00000000 0.00000000 B-6 708,866.18 4.~~24671~~31360% ~~741~~708.~~65500462~~72344340 2.~~62465618~~54763177 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 0.00000000 0.00000000 1.~~73678293~~82002989 0.00000000 ~~709~~693.~~15172053~~90239337 II-A 0.00000000 0.00000000 0.~~33480326~~27930446 0.00000000 8864.~~02701266~~35531860 III-A 0.00000000 0.00000000 0.~~24599015~~24542074 0.00000000 42.~~50786879~~40790525 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 2.~~87283888~~87073067 0.00000000 ~~808~~784.~~81129456~~37490475 B-2 0.00000000 0.00000000 2.~~87283887~~87073182 0.00000000 ~~808~~784.~~81129245~~37490358 B-3 0.00000000 0.00000000 2.~~87283567~~87073308 0.00000000 ~~808~~784.~~81129613~~37490298 B-4 0.00000000 0.00000000 2.~~87284369~~87072706 0.00000000 ~~808~~784.~~81129220~~37490740 B-5 0.00000000 0.00000000 2.~~87283376~~87073102 0.00000000 ~~808~~784.~~81128987~~37490827 B-6 0.00000000 0.00000000 2.~~62465618~~54763177 0.00000000 ~~717~~696.~~77880558~~09275195 (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,~~206~~032,~~137~~026.3645 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 37,~~114~~584.4496 Realized Loss (Gains, Subsequent Expenses & Recoveries) ~~(15,000~~0.00) Prepayment Penalties 0.00 Total Deposits 12,~~194~~039,~~251~~611.8041 Withdrawals Reimbursement for Servicer Advances 4,~~969~~824.8519 Payment of Service Fee 2928,~~536~~827.9795 Payment of Interest and Principal 12,~~159~~005,~~744~~959.9827 Total Withdrawals (Pool Distribution Amount) 12,~~194~~039,~~251~~611.8041 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 28,~~769~~079.7816 Master Servicing Fee ~~767~~748.1979 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2928,~~536~~827.9795

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 25 0 0 0 25 ~~347~~1,~~627~~762,007.3007 0.00 0.00 0.00 ~~347~~1,~~627~~762,007.3007 60 Days 21 0 0 0 21 ~~795~~599,~~088~~888.9700 0.00 0.00 0.00 ~~795~~599,~~088~~888.9700 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0447,588.0097 0.00 0447,588.0097 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 1 1 0.00 0.00 0.00 139,522.63 139,522.63 Totals 46 0 01 1 58 12,~~142~~361,~~716~~895.2707 0.00 0447,588.0097 139,522.63 12,~~282~~949,~~238~~006.9067 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.~~760456~~960784% 0.000000% 0.000000% 0.000000% 01.~~760456~~960784% 01.~~381375~~999677% 0.000000% 0.000000% 0.000000% 01.~~381375~~999677% 60 Days 0.~~760456~~392157% 0.000000% 0.000000% 0.000000% 0.~~760456~~392157% 0.~~872276~~680804% 0.000000% 0.000000% 0.000000% 0.~~872276~~680804% 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~~392157% 0.000000% 0.~~000000~~392157% 0.000000% 0.000000% 0.~~000000~~507962% 0.000000% 0.~~000000~~507962% 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.~~380228~~392157% 0.~~380228~~392157% 0.000000% 0.000000% 0.000000% 0.~~153067~~158342% 0.~~153067~~158342% Totals 12.~~520913~~352941% 0.000000% 0.~~000000~~392157% 0.~~380228~~392157% 13.~~901141~~137255% 12.~~253650~~680481% 0.000000% 0.~~000000~~507962% 0.~~153067~~158342% 13.~~406718~~346786%

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 25 0 0 0 25 ~~347~~1,~~627~~762,007.3007 0.00 0.00 0.00 ~~347~~1,~~627~~762,007.3007 60 Days 21 0 0 0 21 ~~795~~599,~~088~~888.9700 0.00 0.00 0.00 ~~795~~599,~~088~~888.9700 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 01 0 01 0.00 0.00 0447,588.0097 0.00 0447,588.0097 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 1 1 0.00 0.00 0.00 139,522.63 139,522.63 Totals 46 0 01 1 58 12,~~142~~361,~~716~~895.2707 0.00 0447,588.0097 139,522.63 12,~~282~~949,~~238~~006.9067 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~823045~~109705% 0.000000% 0.000000% 0.000000% 02.~~823045~~109705% 02.~~434673~~250149% 0.000000% 0.000000% 0.000000% 02.~~434673~~250149% 60 Days 0.~~823045~~421941% 0.000000% 0.000000% 0.000000% 0.~~823045~~421941% 0.~~994178~~766079% 0.000000% 0.000000% 0.000000% 0.~~994178~~766079% 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~~421941% 0.000000% 0.~~000000~~421941% 0.000000% 0.000000% 0.~~000000~~571588% 0.000000% 0.~~000000~~571588% 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.~~411523~~421941% 0.~~411523~~421941% 0.000000% 0.000000% 0.000000% 0.~~174459~~178176% 0.~~174459~~178176% Totals 12.~~646091~~531646% 0.000000% 0.~~000000~~421941% 0.~~411523~~421941% 23.~~057613~~375527% 13.~~428850~~016228% 0.000000% 0.~~000000~~571588% 0.~~174459~~178176% 13.~~603309~~765991% 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 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 Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 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%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 37,~~114~~584.4496

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 130,017,266.18 55.04003833% 1514,~~821~~405,~~027~~398.0057 1716.~~35959910~~35084548% 8283.~~640401~~649155% 97.~~094931~~074649% Class R-I 130,017,216.18 55.04001717% 1514,~~821~~405,~~027~~398.0057 1716.~~35959910~~35084548% 0.000000% 0.000000% Class R-II 130,017,166.18 55.03999600% 1514,~~821~~405,~~027~~398.0057 1716.~~35959910~~35084548% 0.000000% 0.000000% Class 2A 81,404,766.18 34.46097263% 11,~~541~~276,~~822~~932.6508 12.~~66424829~~79988006% 43.~~695351~~550965% 1.~~456800~~105894% Class 3A 10,630,266.18 4.50009660% 8,~~533~~275,~~349~~533.4979 9.~~36320544~~39314339% 3.~~301043~~406737% 1.~~024196~~060976% Class B-1 5,905,866.18 2.50012256% 4,~~712~~569,~~201~~832.4199 5.~~17045621~~18698825% 4.~~192749~~206155% 1.~~300861~~309943% Class B-2 3,779,666.18 1.60004111% 2,~~992~~902,~~506~~095.8407 3.~~28352382~~29402257% 1.~~886932~~892966% 0.~~585448~~589535% Class B-3 2,362,366.18 1.00005737% 1,~~846~~790,~~178~~400.5952 2.~~02571680~~03219384% 1.~~257807~~261829% 0.~~390253~~392977% Class B-4 1,417,466.18 0.60005409% 1,~~081~~049,~~932~~244.8067 1.~~18714921~~19094501% 0.~~838568~~841249% 0.~~260178~~261994% Class B-5 708,866.18 0.30008339% ~~508~~493,~~809~~436.1261 0.~~55829007~~56007515% 0.~~628859~~630870% 0.~~195113~~196475% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~558290~~560075% 0.~~173218~~174427% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~624141~~784308% Weighted Average Net Coupon 3.~~249141~~409308% Weighted Average Pass-Through Rate 3.~~239141~~399308% Weighted Average Maturity (Stepdown Calculation ) ~~284~~282 Beginning Scheduled Collateral Loan Count ~~265~~259 Number Of Loans Paid In Full 24 Ending Scheduled Collateral Loan Count ~~263~~255 Beginning Scheduled Collateral Balance 9289,~~063~~853,~~292~~284.8216 Ending Scheduled Collateral Balance 9188,~~137~~101,~~052~~857.8039 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 9188,~~151~~114,~~110~~586.2491 Monthly P &I Constant ~~294~~298,~~158~~973.9544 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~15,000~~0.00 Cumulative Realized Loss 66,402.68 Class A Optimal Amount 1,~~097~~825,~~966~~511.1404 Ending Scheduled Balance for Premium Loans 9188,~~137~~101,~~052~~857.8039 Scheduled Principal 1615,~~117~~613.0201 Unscheduled Principal ~~910~~1,~~123~~735,813.0076

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage Group 1 94.~~189862~~149298% Senior Percentage Group 2 7169.~~168294~~662651% Senior Percentage Group 3 58.420072% Senior Prep Percentage Group 1 97.~~094931~~074649% Senior Prep Percentage Group 2 8584.~~584147~~831326% Senior Prep Percentage Group 3 79.210036% Subordinate Percentage Group 1 5.~~810138~~850702% Subordinate Percentage Group 2 2830.~~831706~~337349% Subordinate Percentage Group 3 41.579928% Subordinate Prep Percentage Group 1 20.~~905069~~000000% Subordinate Prep Percentage Group 2 140.~~415853~~000000% Subordinate Prep Percentage Group 3 200.~~789964~~000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 3.~~290392~~492827 4.~~941432~~688356 7.~~321237~~321375 Weighted Average Net Rate 23.~~915392~~117827 4.~~566432~~313355 6.~~946238~~946373 Weighted Average Maturity ~~260~~258 ~~302~~ 300 298 Beginning Loan Count ~~245~~240 1110 9 Loans Paid In Full 23 01 0 Ending Loan Count ~~243~~237 119 9 Beginning Scheduled Balance 8079,~~884~~274,~~654~~605.6322 65,~~022~~434,~~912~~990.4670 5,~~155~~143,~~725~~688.7324 Ending scheduled Balance 7978,~~974~~306,~~531~~251.6359 64,~~012~~657,~~796~~990.0299 5,~~149~~137,~~725~~614.1581 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~221~~230,~~785~~743.1873 3430,~~917~~773.9589 37,455.82 Scheduled Principal 0.00 109,~~116~~539.4458 6,~~000~~073.5843 Unscheduled Principal ~~910~~968,~~123~~353.0063 0767,460.0013 0.00 Scheduled Interest ~~221~~230,~~785~~743.1873 2421,~~801~~234.5131 31,~~455~~382.2439 Servicing Fees 2524,~~276~~773.4631 1,~~882~~698.1644 1,~~611~~607.1641 Master Servicing Fees ~~674~~660.0462 5045.1930 42.9687 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 ~~195~~205,~~834~~309.6880 2219,~~869~~490.1657 29,~~801~~732.1211 Realized Loss Amount ~~15,000~~0.00 0.00 0.00 Cumulative Realized Loss 65,851.03 551.65 0.00 Percentage of Cumulative Losses 0.0592 0.0011 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 23.~~905392~~107827 4.~~556432~~303356 6.~~936237~~936375

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 3.~~624141~~784308 Weighted Average Net Rate 3.~~249141~~409308 Weighted Average Maturity ~~284~~282 Beginning Loan Count ~~265~~259 Loans Paid In Full 24 Ending Loan Count ~~263~~255 Beginning Scheduled Balance 9289,~~063~~853,~~292~~284.8216 Ending scheduled Balance 9188,~~137~~101,~~052~~857.8039 Record Date 0810/31/2004 Principal And Interest Constant ~~294~~298,~~158~~973.9544 Scheduled Principal 1615,~~117~~613.0201 Unscheduled Principal ~~910~~1,~~123~~735,813.0076 Scheduled Interest ~~278~~283,~~041~~360.9343 Servicing Fees 28,~~769~~079.7816 Master Servicing Fees ~~767~~748.1979 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~248~~254,~~504~~532.9648 Realized Loss Amount ~~15,000~~0.00 Cumulative Realized Loss 66,402.68 Percentage of Cumulative Losses 0.0281 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~239141~~399308

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002-2