8-K 1 bsl03007_dec.txt DEC. 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): December 27, 2004 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-12 Pooling and Servicing Agreement) (Commission 54-2139195 (State or other File Number) 54-2139196 jurisdiction 54-2139197 of Incorporation) IRS EIN 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 December 27, 2004 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2003-7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-7 Trust, relating to the December 27, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/3/05 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-7 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 811/3130/~~2004~~04 Distribution Date: 912/27/~~2004~~04 ~~BSL~~Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Series: 2003-7 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07386HEQ0 SEN 2.~~01500~~58063% ~~223~~193,~~143~~690,~~589~~340.3664 ~~412~~430,~~164~~420.8445 816,~~456~~204,~~029~~406.6334 II-A-1 07386HER8 SEN 12.~~93500~~50063% 6048,~~876~~353,~~858~~037.8867 ~~107~~104,~~980~~119.3458 53,~~416~~361,~~540~~867.1813 II-A-2 07386HES6 SEN 12.~~89500~~46063% 7156,~~092~~466,~~093~~754.2076 ~~123~~119,~~492~~646.9004 63,~~325~~925,~~444~~993.2981 M-1 07386HET4 SUB 2.~~26500~~83063% 14,581,500.00 3035,~~274~~542.8422 0.00 M-2 07386HEU1 SUB 23.~~96500~~53063% 8,748,900.00 2326,~~778~~598.7897 0.00 B 07386HEV9 SUB 4.~~11500~~68063% 5,832,600.00 2223,~~001~~508.0554 0.00 B-IO BSL030071 SEN 0.00000% 0.00 1749,~~107,999~~225.9715 0.00 X BSL030072 SEN 0.00000% 2,916,293.00 0.00 0.00 XP BSL030073 SEN 0.00000% 100.00 2556,~~773~~422.2153 0.00 R-1 BSL030074 RES 0.00000% 0.00 0.00 0.00 R-2 BSL030075 RES 0.00000% 0.00 0.00 0.00 R-3 BSL030076 RES 0.00000% 0.00 0.00 0.00 Totals ~~387~~330,~~191~~589,~~934~~526.4407 1,~~853~~545,~~465~~483.9348 2023,~~198~~492,~~014~~267.1028

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~214~~177,~~687~~485,~~559~~934.7330 816,~~868~~634,~~194~~826.4779 0.00 II-A-1 0.00 5544,~~460~~991,~~318~~170.7054 53,~~524~~465,~~520~~986.5271 0.00 II-A-2 0.00 6452,~~766~~540,~~648~~760.9194 64,~~448~~045,~~937~~639.1985 0.00 M-1 0.00 14,581,500.00 3035,~~274~~542.8422 0.00 M-2 0.00 8,748,900.00 2326,~~778~~598.7897 0.00 B 0.00 5,832,600.00 2223,~~001~~508.0554 0.00 B-IO 0.00 0.00 1749,~~107,999~~225.9715 0.00 X 0.00 2,916,293.00 0.00 0.00 XP 0.00 100.00 2556,~~773~~422.2153 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~366~~307,~~993~~097,~~920~~258.3478 2225,~~051~~037,~~480~~750.0376 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A-1 283,120,300.00 ~~223~~193,~~143~~690,~~589~~340.3664 0.00 816,~~456~~204,~~029~~406.6334 0.00 0.00 II-A-1 125,000,000.00 6048,~~876~~353,~~858~~037.8867 0.00 53,~~416~~361,~~540~~867.1813 0.00 0.00 II-A-2 145,975,200.00 7156,~~092~~466,~~093~~754.2076 0.00 63,~~325~~925,~~444~~993.2981 0.00 0.00 M-1 14,581,500.00 14,581,500.00 0.00 0.00 0.00 0.00 M-2 8,748,900.00 8,748,900.00 0.00 0.00 0.00 0.00 B 5,832,600.00 5,832,600.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 X 37.13 2,916,293.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~387~~330,~~191~~589,~~934~~526.4407 0.00 2023,~~198~~492,~~014~~267.1028 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-1 816,~~456~~204,~~029~~406.6334 ~~214~~177,~~687~~485,~~559~~934.7330 0.~~75829094~~62689229 816,~~456~~204,~~029~~406.6334 II-A-1 53,~~416~~361,~~540~~867.1813 5544,~~460~~991,~~318~~170.7054 0.~~44368255~~35992936 53,~~416~~361,~~540~~867.1813 II-A-2 63,~~325~~925,~~444~~993.2981 6452,~~766~~540,~~648~~760.9194 0.~~44368255~~35992936 63,~~325~~925,~~444~~993.2981 M-1 0.00 14,581,500.00 1.00000000 0.00 M-2 0.00 8,748,900.00 1.00000000 0.00 B 0.00 5,832,600.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 X 0.00 2,916,293.00 78,542.76865069 0.00 XP 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 2023,~~198~~492,~~014~~267.1028 ~~366~~307,~~993~~097,~~920~~258.3478 0.~~62921301~~52651986 2023,~~198~~492,~~014~~267.1028

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 283,120,300.00 ~~788~~684.~~15821176~~12735025 0.00000000 2957.~~86726713~~23505641 0.00000000 II-A-1 125,000,000.00 ~~487~~386.~~01487104~~82430136 0.00000000 4326.~~33232144~~89493704 0.00000000 II-A-2 145,975,200.00 ~~487~~386.~~01487102~~82430139 0.00000000 4326.~~33232145~~89493702 0.00000000 M-1 14,581,500.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 8,748,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 5,832,600.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 37.13 78542768.65068680 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 2957.~~86726713~~23505641 ~~758~~626.~~29094463~~89229384 0.~~75829094~~62689229 2957.~~86726713~~23505641 II-A-1 0.00000000 4326.~~33232144~~89493704 ~~443~~359.~~68254960~~92936432 0.~~44368255~~35992936 4326.~~33232144~~89493704 II-A-2 0.00000000 4326.~~33232145~~89493702 ~~443~~359.~~68254957~~92936430 0.~~44368255~~35992936 4326.~~33232145~~89493702 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 78,542,768.65068680 78542.76865069 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A-1 283,120,300.00 2.~~01500~~58063% ~~223~~193,~~143~~690,~~589~~340.3664 ~~412~~430,~~164~~420.8045 0.00 0.00 II-A-1 125,000,000.00 12.~~93500~~50063% 6048,~~876~~353,~~858~~037.8867 ~~107~~104,~~980~~119.3358 0.00 0.00 II-A-2 145,975,200.00 12.~~89500~~46063% 7156,~~092~~466,~~093~~754.2076 ~~123~~119,~~492~~646.8904 0.00 0.00 M-1 14,581,500.00 2.~~26500~~83063% 14,581,500.00 3035,~~274~~542.8422 0.00 0.00 M-2 8,748,900.00 23.~~96500~~53063% 8,748,900.00 2326,~~778~~598.7897 0.00 0.00 B 5,832,600.00 4.~~11500~~68063% 5,832,600.00 2223,~~001~~508.0554 0.00 0.00 B-IO 0.00 0.00000% ~~387~~330,~~191~~589,~~834~~426.4406 0.00 0.00 0.00 X 37.13 0.00000% 2,916,293.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~719~~739,~~692~~835.6980 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 ~~412~~430,~~164~~420.8445 0.00 ~~214~~177,~~687~~485,~~559~~934.7330 II-A-1 0.00 0.00 ~~107~~104,~~980~~119.3458 0.00 5544,~~460~~991,~~318~~170.7054 II-A-2 0.00 0.00 ~~123~~119,~~492~~646.9004 0.00 6452,~~766~~540,~~648~~760.9194 M-1 0.00 0.00 3035,~~274~~542.8422 0.00 14,581,500.00 M-2 0.00 0.00 2326,~~778~~598.7897 0.00 8,748,900.00 B 0.00 0.00 2223,~~001~~508.0554 0.00 5,832,600.00 B-IO 0.00 0.00 1749,~~107,999~~225.9715 0.00 ~~366~~307,~~993~~097,~~820~~158.3478 X 0.00 0.00 0.00 0.00 2,916,293.00 XP 0.00 0.00 2556,~~773~~422.2153 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~853~~545,~~465~~483.9348 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A-1 283,120,300.00 2.~~01500~~58063% ~~788~~684.~~15821176~~12735025 1.~~45579388~~52027407 0.00000000 0.00000000 II-A-1 125,000,000.00 12.~~93500~~50063% ~~487~~386.~~01487104~~82430136 0.~~86384264~~83295664 0.00000000 0.00000000 II-A-2 145,975,200.00 12.~~89500~~46063% ~~487~~386.~~01487102~~82430139 0.~~84598541~~81963265 0.00000000 0.00000000 M-1 14,581,500.00 2.~~26500~~83063% 1000.00000000 2.~~07625004~~43748723 0.00000000 0.00000000 M-2 8,748,900.00 23.~~96500~~53063% 1000.00000000 23.~~71791654~~04026449 0.00000000 0.00000000 B 5,832,600.00 4.~~11500~~68063% 1000.00000000 34.~~77208278~~03054213 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~663~~566.~~84254973~~79740632 0.00000000 0.00000000 0.00000000 X 37.13 0.00000% 78542768.65068680 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A-1 0.00000000 0.00000000 1.~~45579402~~52027407 0.00000000 ~~758~~626.~~29094463~~89229384 II-A-1 0.00000000 0.00000000 0.~~86384272~~83295664 0.00000000 ~~443~~359.~~68254960~~92936432 II-A-2 0.00000000 0.00000000 0.~~84598548~~81963265 0.00000000 ~~443~~359.~~68254957~~92936430 M-1 0.00000000 0.00000000 2.~~07625004~~43748723 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 23.~~71791654~~04026449 0.00000000 1000.00000000 B 0.00000000 0.00000000 34.~~77208278~~03054213 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 1.~~89967210~~28455068 0.00000000 ~~629~~526.~~21294242~~51978365 X 0.00000000 0.00000000 0.00000000 0.00000000 78542768.65068680 XP 0.00000000 0.00000000 ~~257732~~564225.~~10000000~~30000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2225,~~174~~173,~~211~~378.1395 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3249,~~613~~664.2286 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(45,707.0071) Prepayment Penalties 0.00 Total Deposits 2225,~~206~~177,~~824~~336.3510 Withdrawals Reimbursement for Servicer Advances 3537,~~809~~543.0907 Payment of Service Fee ~~119~~102,~~535~~042.2326 Payment of Interest and Principal 2225,~~051~~037,~~480~~750.0377 Total Withdrawals (Pool Distribution Amount) 2225,~~206~~177,~~824~~336.3510 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8673,~~278~~121.4286 Additional Servicing Fee 3328,~~256~~920.8140 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~119~~102,~~535~~042.2326

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 12 0 0 12 ~~422~~531,~~577~~858.2616 0.00 0.00 ~~422~~531,~~577~~858.2616 30 Days 715 0 0 0 715 13,~~754~~853,~~155~~351.1837 0.00 0.00 0.00 13,~~754~~853,~~155~~351.1837 60 Days 3 10 0 0 43 ~~305~~749,~~140~~446.2434 ~~152,949~~0.9800 0.00 0.00 ~~458~~749,~~090~~446.2234 90 Days 0 02 13 0 1 6 0.00 0341,745.0040 ~~253~~1,~~499~~049,530.9922 0360,000.00 ~~253~~1,~~499~~751,275.9962 120 Days 20 0 12 0 32 ~~731,505~~0.0100 0.00 ~~360~~416,~~000~~004.0060 0.00 1416,~~091,505~~004.0160 150 Days 0 0 01 0 01 0.00 0.00 075,319.0025 0.00 075,319.0025 180+ Days 20 10 32 3 95 ~~305,350~~0.00 ~~94,500~~0.00 ~~759~~361,~~503~~302.4683 737,089.63 1,~~896~~098,~~443~~392.0946 Totals 1418 34 58 34 2534 34,~~096~~602,~~150~~797.4371 ~~670~~873,~~027~~603.2456 1,~~373~~902,~~003~~156.4590 ~~737~~1,097,089.63 58,~~876~~475,~~270~~647.7580 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.~~072622~~169205% 0.000000% 0.000000% 0.~~072622~~169205% 0.~~115082~~173080% 0.000000% 0.000000% 0.~~115082~~173080% 30 Days 01.~~508351~~269036% 0.000000% 0.000000% 0.000000% 01.~~508351~~269036% 01.~~477716~~253977% 0.000000% 0.000000% 0.000000% 01.~~477716~~253977% 60 Days 0.~~217865~~253807% 0.~~072622~~000000% 0.000000% 0.000000% 0.~~290487~~253807% 0.~~083100~~243889% 0.~~041653~~000000% 0.000000% 0.000000% 0.~~124754~~243889% 90 Days 0.000000% 0.~~000000~~169205% 0.~~072622~~253807% 0.~~000000~~084602% 0.~~072622~~507614% 0.000000% 0.~~000000~~111213% 0.~~069037~~341544% 0.~~000000~~117153% 0.~~069037~~569909% 120 Days 0.~~145243~~000000% 0.000000% 0.~~072622~~169205% 0.000000% 0.~~217865~~169205% 0.~~199214~~000000% 0.000000% 0.~~098040~~135378% 0.000000% 0.~~297254~~135378% 150 Days 0.000000% 0.000000% 0.~~000000~~084602% 0.000000% 0.~~000000~~084602% 0.000000% 0.000000% 0.~~000000~~024511% 0.000000% 0.~~000000~~024511% 180+ Days 0.~~145243~~000000% 0.~~072622~~000000% 0.~~217865~~169205% 0.~~217865~~253807% 0.~~653595~~423012% 0.~~083157~~000000% 0.~~025736~~000000% 0.~~206839~~117577% 0.~~200735~~239867% 0.~~516466~~357445% Totals 1.~~016703~~522843% 0.~~217865~~338409% 0.~~363108~~676819% 0.~~217865~~338409% 12.~~815541~~876481% 01.~~843187~~497866% 0.~~182471~~284293% 0.~~373916~~619010% 0.~~200735~~357021% 12.~~600309~~758189%

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 01 0 0 01 0110,806.0036 0.00 0.00 0110,806.0036 30 Days 413 0 0 0 413 ~~639~~3,~~613~~170,121.0067 0.00 0.00 0.00 ~~639~~3,~~613~~170,121.0067 60 Days 32 10 0 0 42 ~~305~~429,~~140~~446.2434 ~~152,949~~0.9800 0.00 0.00 ~~458~~429,~~090~~446.2234 90 Days 0 02 1 0 13 0.00 0341,745.0040 ~~253~~192,~~499~~052.9930 0.00 ~~253~~533,~~499~~797.9970 120 Days 1 0 0 2 0 12 ~~352,298.97~~ 0.00 0.00 416,004.60 0.00 ~~352~~416,~~298~~004.9760 150 Days 0 0 01 0 01 0.00 0.00 075,319.0025 0.00 075,319.0025 180 Days 20 10 32 3 95 ~~305,350~~0.00 ~~94,500~~0.00 ~~759~~361,~~503~~302.4683 737,089.63 1,~~896~~098,~~443~~392.0946 Totals 1015 23 46 3 1927 13,~~602~~599,~~402~~568.2101 ~~247~~452,~~449~~551.9876 1,~~013~~044,~~003~~678.4598 737,089.63 35,~~599~~833,~~945~~888.2738 0-29 Days 0.~~000000~~111857% 0.000000% 0.000000% 0.~~000000~~111857% 0.~~000000~~057374% 0.000000% 0.000000% 0.~~000000~~057374% 30 Days 01.~~389105~~454139% 0.000000% 0.000000% 0.000000% 01.~~389105~~454139% 01.~~277618~~641442% 0.000000% 0.000000% 0.000000% 01.~~277618~~641442% 60 Days 0.~~291829~~223714% 0.~~097276~~000000% 0.000000% 0.000000% 0.~~389105~~223714% 0.~~132443~~222361% 0.~~066387~~000000% 0.000000% 0.000000% 0.~~198830~~222361% 90 Days 0.000000% 0.~~000000~~223714% 0.~~097276~~111857% 0.000000% 0.~~097276~~335570% 0.000000% 0.~~000000~~176951% 0.~~110029~~099442% 0.000000% 0.~~110029~~276393% 120 Days 0.~~097276~~000000% 0.000000% 0.~~000000~~223714% 0.000000% 0.~~097276~~223714% 0.~~152912~~000000% 0.000000% 0.~~000000~~215401% 0.000000% 0.~~152912~~215401% 150 Days 0.000000% 0.000000% 0.~~000000~~111857% 0.000000% 0.~~000000~~111857% 0.000000% 0.000000% 0.~~000000~~038999% 0.000000% 0.~~000000~~038999% 180 Days 0.~~194553~~000000% 0.~~097276~~000000% 0.~~291829~~223714% 0.~~291829~~335570% 0.~~875486~~559284% 0.~~132534~~000000% 0.~~041017~~000000% 0.~~329655~~187077% 0.~~319927~~381654% 0.~~823134~~568731% Totals 01.~~972763~~677852% 0.~~194553~~335570% 0.~~389105~~671141% 0.~~291829~~335570% 13.~~848249~~020134% 01.~~695508~~863803% 0.~~107403~~234325% 0.~~439685~~540919% 0.~~319927~~381654% 13.~~562523~~020701% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 ~~422~~421,~~577~~051.2680 0.00 0.00 ~~422~~421,~~577~~051.2680 30 Days 32 0 0 0 32 1683,~~114,542~~229.1870 0.00 0.00 0.00 1683,~~114,542~~229.1870 60 Days 01 0 0 0 01 0320,000.00 0.00 0.00 0.00 0320,000.00 90 Days 0 0 02 01 03 0.00 0.00 0857,477.0092 0360,000.00 01,217,477.0092 120 Days 10 0 10 0 20 ~~379,206~~0.0400 0.00 ~~360,000~~0.00 0.00 ~~739,206~~0.0400 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 43 1 2 1 07 6 1,~~493~~003,~~748~~229.2270 ~~422~~421,~~577~~051.2680 857,477.92 360,000.00 ~~0.00~~ 2,~~276~~641,~~325~~759.4842 0-29 Days 0.~~286533~~347222% 0.000000% 0.000000% 0.~~286533~~347222% 0.~~308895~~368826% 0.000000% 0.000000% 0.~~308895~~368826% 30 Days 0.~~859599~~694444% 0.000000% 0.000000% 0.000000% 0.~~859599~~694444% 0.~~814706~~598484% 0.000000% 0.000000% 0.000000% 0.~~814706~~598484% 60 Days 0.~~000000~~347222% 0.000000% 0.000000% 0.000000% 0.~~000000~~347222% 0.~~000000~~280308% 0.000000% 0.000000% 0.000000% 0.~~000000~~280308% 90 Days 0.000000% 0.000000% 0.~~000000~~694444% 0.~~000000~~347222% 01.~~000000~~041667% 0.000000% 0.000000% 0.~~000000~~751119% 0.~~000000~~315347% 01.~~000000~~066466% 120 Days 0.~~286533~~000000% 0.000000% 0.~~286533~~000000% 0.000000% 0.~~573066~~000000% 0.~~277191~~000000% 0.000000% 0.~~263152~~000000% 0.000000% 0.~~540344~~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 1.~~146132~~041667% 0.~~286533~~347222% 0.~~286533~~694444% 0.~~000000~~347222% 12.~~719198~~430556% 10.~~091898~~878792% 0.~~308895~~368826% 0.~~263152~~751119% 0.~~000000~~315347% 12.~~663945~~314084%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3249,~~613~~664.2286

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~062615~~020023% Weighted Average Net Coupon 5.~~795217~~754600% Weighted Average Pass-Through Rate 5.~~692146~~649622% Weighted Average Maturity(Stepdown Calculation ) ~~337~~334 Beginning Scheduled Collateral Loan Count 1,~~440~~258 Number Of Loans Paid In Full 6376 Ending Scheduled Collateral Loan Count 1,~~377~~182 Beginning Scheduled Collateral Balance ~~387~~330,~~191~~589,~~834~~426.4406 Ending Scheduled Collateral Balance ~~366~~307,~~993~~097,~~820~~158.3478 Ending Actual Collateral Balance at 3130-~~Aug~~Nov-2004 ~~367~~307,~~196~~290,~~058~~342.6191 Monthly P &I Constant 21,~~220~~891,~~502~~464.5710 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 045,707.0071 Cumulative Realized Loss 0154,236.0063 Ending Scheduled Balance for Premium Loans ~~366~~307,~~993~~097,~~820~~158.3478 Scheduled Principal ~~264~~233,~~340~~000.2169 Unscheduled Principal 1923,~~933~~259,~~673~~266.8959 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,916,293.00 Overcollateralized Amount 2,916,293.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 045,707.0071 Excess Cash Amount 1794,~~108,000~~932.0387

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~871205~~903108 6.~~370463~~221660 6.~~062615~~020023 Weighted Average Net Rate 5.~~663188~~693757 65.~~007563~~859531 5.~~795217~~754600 Weighted Average Maturity ~~348~~345 ~~325~~322 ~~337~~334 Beginning Loan Count ~~1,063~~950 ~~377~~308 1,~~440~~258 Loans Paid In Full 3556 2820 6376 Ending Loan Count ~~1,028~~894 ~~349~~288 1,~~377~~182 Beginning Scheduled Balance ~~238~~209,~~747~~255,~~293~~913.7069 ~~148~~121,~~444~~333,~~540~~512.7437 ~~387~~330,~~191~~589,~~834~~426.4406 Ending scheduled Balance ~~230~~193,~~291~~037,~~264~~327.0773 ~~136~~114,~~702~~059,~~556~~831.2705 ~~366~~307,~~993~~097,~~820~~158.3478 Record Date 0811/3130/2004 0811/3130/2004 0811/3130/2004 Principal And Interest Constant 1,~~275~~125,~~303~~045.0330 ~~945~~766,~~199~~418.5480 21,~~220~~891,~~502~~464.5710 Scheduled Principal ~~107~~95,~~191~~661.0675 ~~157~~137,~~149~~338.1594 ~~264~~233,~~340~~000.2169 Unscheduled Principal 816,~~348~~122,~~838~~924.5721 117,~~584~~136,~~835~~342.3238 1923,~~933~~259,~~673~~266.8959 Scheduled Interest 1,~~168~~029,~~111~~383.9755 ~~788~~629,~~050~~079.3986 1,~~956~~658,~~162~~463.3641 Servicing Fees 4136,~~386~~506.2953 4436,~~892~~615.1333 8673,~~278~~121.4286 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 3328,~~256~~920.8140 0.00 3328,~~256~~920.8140 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 1963,~~093,468~~956.8762 ~~743~~592,~~158~~464.2653 1,~~836~~556,~~627~~421.1315 Realized Loss Amount 045,707.0071 0.00 045,707.0071 Cumulative Realized Loss 0154,236.0063 0.00 0154,236.0063 Percentage of Cumulative Losses 0.~~0000~~0518 0.0000 0.~~0000~~0264 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~496031~~527910 65.~~007563~~859531 5.~~692146~~649622

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