8-K 1 bst03005_dec.txt DECEMBER 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-22 Pooling and Servicing Agreement) (Commission 54-2121787 (State or other File Number) 54-2121788 jurisdiction 54-2121789 of Incorporation) 54-2123731 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 ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-5 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 2003-5 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-5 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: 12/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-5 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~BST~~Bear Stearns ARM Trust Mortgage Pass-Through Certificates Series: 2003-5 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 07384MWF5 SEN 4.~~14582~~14327% 6562,~~436~~922,~~000~~123.4180 ~~226~~217,~~071~~253.2900 2,~~513~~142,~~876~~854.6133 I-A-2 07384MWG3 SEN 3.~~95193~~94577% 9694,~~629~~235,~~958~~343.7407 ~~318~~309,~~229~~859.2807 2,~~394~~097,~~615~~266.6757 I-X 07384MWJ7 SEN 0.55900% 0.00 4543,~~013~~897.4696 0.00 I-A-3 07384MWH1 SEN 4.~~47897~~47854% 84,~~959~~709,~~235~~250.9973 ~~317~~316,~~108~~145.5103 ~~249~~832,~~985~~587.2613 R-I 07384MWS7 SEN 4.~~23400~~23162% 0.00 0.00 0.00 R-II 07384MWT5 SEN 0.00000% 0.00 0.00 0.00 R-III 07384MWU2 SEN 4.~~23400~~23162% 0.00 0.00 0.00 R-IV 07384MYP1 SEN 4.~~23400~~23162% 0.00 0.00 0.00 II-A-1 07384MWN8 SEN 4.~~56769~~56710% ~~230~~224,~~095~~893,~~153~~206.8677 ~~875~~855,~~836~~923.6096 54,~~201~~746,~~947~~936.0960 II-X 07384MXM9 SEN 0.39300% 0.00 7573,~~356~~652.1653 0.00 I-B-1 07384MWK4 SUB 4.~~38524~~38168% 4,~~906~~902,~~088~~701.5743 17,~~928~~901.6375 3,~~387~~414.1432 I-B-2 07384MWL2 SUB 4.~~38524~~38168% 3,~~737~~735,~~910~~330.9834 13,~~659~~639.6920 2,~~580~~601.6334 I-B-3 07384MWM0 SUB 4.~~38524~~38168% 2,~~569~~568,~~832~~058.3515 9,~~391~~377.1002 1,~~774~~788.2044 I-B-4 07384MXN7 SUB 4.~~38524~~38168% 1,~~168~~167,~~078~~272.6219 4,~~268~~262.5818 ~~806~~812.4491 I-B-5 07384MXP2 SUB 4.~~38524~~38168% 700,~~827~~343.3753 2,~~561~~557.0824 ~~483~~487.8573 I-B-6 07384MXQ0 SUB 4.~~38524~~38168% ~~934~~933,~~596~~951.3915 3,~~415~~410.3623 ~~645~~650.2442 II-B-1 07384MWP3 SUB 4.~~96069~~96010% 6,~~453~~448,~~463~~000.8545 26,~~678~~652.0425 5,~~463~~455.4065 II-B-2 07384MWQ1 SUB 4.~~96069~~96010% 2,~~218~~216,~~375~~497.1107 9,~~170~~161.5670 1,~~878~~875.0438 II-B-3 07384MWR9 SUB 4.~~96069~~96010% 1,~~411~~410,~~630~~435.3831 5,~~835~~829.5591 1,~~195~~193.0637 II-B-4 07384MXR8 SUB 4.~~96069~~96010% 806,~~744~~061.7376 3,~~335~~331.0179 682.9801 II-B-5 07384MXS6 SUB 4.~~96069~~96010% 604,~~984~~472.4528 2,~~500~~498.9553 ~~512~~511.1744 II-B-6 07384MXT4 SUB 4.~~96069~~96010% 806,~~718~~035.1419 3,~~334~~331.9068 ~~682~~681.9599 Totals ~~503~~493,~~439~~059,~~599~~083.9422 1,~~959~~918,~~694~~685.7503 109,~~380~~839,~~516~~799.7363

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 6260,~~922~~779,~~123~~269.8047 2,~~739~~360,~~947~~107.9033 0.00 I-A-2 0.00 9492,~~235~~138,~~343~~076.0751 2,~~712~~407,~~844~~125.9564 0.00 I-X 0.00 0.00 4543,~~013~~897.4696 0.00 I-A-3 0.00 8483,~~709~~876,~~250~~663.7360 ~~567~~1,~~093~~148,732.7716 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 II-A-1 0.00 ~~224~~220,~~893~~146,~~206~~270.7717 65,~~077~~602,~~783~~860.6956 0.00 II-X 0.00 0.00 7573,~~356~~652.1653 0.00 I-B-1 0.00 4,~~902~~899,~~701~~287.4311 21,~~315~~316.7707 0.00 I-B-2 0.00 3,~~735~~732,~~330~~729.3400 16,240.3254 0.00 I-B-3 0.00 2,~~568~~566,~~058~~269.1572 11,165.3046 0.00 I-B-4 0.00 1,~~167~~166,~~272~~459.1928 5,075.0209 0.00 I-B-5 0.00 ~~700~~699,~~343~~855.5380 3,044.9397 0.00 I-B-6 0.00 933,~~951~~300.1573 4,060.6065 0.00 II-B-1 0.00 6,~~448~~442,~~000~~544.4580 32,~~141~~107.4490 0.00 II-B-2 0.00 2,~~216~~214,~~497~~621.0769 11,~~048~~037.6008 0.00 II-B-3 0.00 1,~~410~~409,~~435~~241.3194 7,~~030~~023.6128 0.00 II-B-4 0.00 ~~806~~805,~~061~~379.7675 4,~~017~~013.9980 0.00 II-B-5 0.00 ~~604~~603,~~472~~960.2883 3,~~013~~009.1297 0.00 II-B-6 0.00 ~~806~~805,~~035~~353.1920 4,~~017~~013.8567 0.00 Totals 0.00 ~~493~~483,~~059~~219,~~083~~283.2260 1211,~~340~~758,~~211~~484.4866 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-1 148,666,550.00 6562,~~436~~922,~~000~~123.4180 7169,~~520~~299.7737 2,~~442~~073,~~355~~554.8496 0.00 0.00 I-A-2 198,473,900.00 9694,~~629~~235,~~958~~343.7407 6968,~~405~~235.4182 2,~~325~~029,~~210~~030.2675 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 I-A-3 110,784,000.00 84,~~959~~709,~~235~~250.9973 9,~~221~~516.0302 ~~240~~823,~~764~~071.2311 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 R-III 50.00 0.00 0.00 0.00 0.00 0.00 R-IV 50.00 0.00 0.00 0.00 0.00 0.00 II-A-1 395,768,100.00 ~~230~~224,~~095~~893,~~153~~206.8677 ~~194~~190,~~794~~282.8102 54,~~007~~556,~~152~~654.2858 0.00 0.00 II-X 0.00 0.00 0.00 0.00 0.00 0.00 I-B-1 4,957,000.00 4,~~906~~902,~~088~~701.5743 3,~~387~~414.1432 0.00 0.00 0.00 I-B-2 3,776,700.00 3,~~737~~735,~~910~~330.9834 2,~~580~~601.6334 0.00 0.00 0.00 I-B-3 2,596,500.00 2,~~569~~568,~~832~~058.3515 1,~~774~~788.2044 0.00 0.00 0.00 I-B-4 1,180,200.00 1,~~168~~167,~~078~~272.6219 ~~806~~812.4491 0.00 0.00 0.00 I-B-5 708,100.00 700,~~827~~343.3753 ~~483~~487.8573 0.00 0.00 0.00 I-B-6 944,294.88 ~~934~~933,~~596~~951.3915 ~~645~~650.2442 0.00 0.00 0.00 II-B-1 6,531,500.00 6,~~453~~448,~~463~~000.8545 5,~~463~~455.4065 0.00 0.00 0.00 II-B-2 2,245,200.00 2,~~218~~216,~~375~~497.1107 1,~~878~~875.0438 0.00 0.00 0.00 II-B-3 1,428,700.00 1,~~411~~410,~~630~~435.3831 1,~~195~~193.0637 0.00 0.00 0.00 II-B-4 816,500.00 806,~~744~~061.7376 682.9801 0.00 0.00 0.00 II-B-5 612,300.00 604,~~984~~472.4528 ~~512~~511.1744 0.00 0.00 0.00 II-B-6 816,473.08 806,~~718~~035.1419 ~~682~~681.9599 0.00 0.00 0.00 Totals 880,306,217.96 ~~503~~493,~~439~~059,~~599~~083.9422 ~~365~~357,~~034~~488.1223 109,~~015,~~482,311.6140 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 2,~~513~~142,~~876~~854.6133 6260,~~922~~779,~~123~~269.8047 0.~~42324332~~40882949 2,~~513~~142,~~876~~854.6133 I-A-2 2,~~394~~097,~~615~~266.6757 9492,~~235~~138,~~343~~076.0751 0.~~47479967~~46423271 2,~~394~~097,~~615~~266.6757 I-X 0.00 0.00 0.00000000 0.00 I-A-3 ~~249~~832,~~985~~587.2613 8483,~~709~~876,~~250~~663.7360 0.~~76463434~~75711893 ~~249~~832,~~985~~587.2613 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 R-IV 0.00 0.00 0.00000000 0.00 II-A-1 54,~~201~~746,~~947~~936.0960 ~~224~~220,~~893~~146,~~206~~270.7717 0.~~56824491~~55625067 54,~~201~~746,~~947~~936.0960 II-X 0.00 0.00 0.00000000 0.00 I-B-1 3,~~387~~414.1432 4,~~902~~899,~~701~~287.4311 0.~~98904608~~98835729 3,~~387~~414.1432 I-B-2 2,~~580~~601.6334 3,~~735~~732,~~330~~729.3400 0.~~98904608~~98835730 2,~~580~~601.6334 I-B-3 1,~~774~~788.2044 2,~~568~~566,~~058~~269.1572 0.~~98904608~~98835730 1,~~774~~788.2044 I-B-4 ~~806~~812.4491 1,~~167~~166,~~272~~459.1928 0.~~98904609~~98835730 ~~806~~812.4491 I-B-5 ~~483~~487.8573 ~~700~~699,~~343~~855.5380 0.~~98904608~~98835729 ~~483~~487.8573 I-B-6 ~~645~~650.2442 933,~~951~~300.1573 0.~~98904608~~98835729 ~~645~~650.2442 II-B-1 5,~~463~~455.4065 6,~~448~~442,~~000~~544.4580 0.~~98721587~~98638059 5,~~463~~455.4065 II-B-2 1,~~878~~875.0438 2,~~216~~214,~~497~~621.0769 0.~~98721587~~98638059 1,~~878~~875.0438 II-B-3 1,~~195~~193.0637 1,~~410~~409,~~435~~241.3194 0.~~98721587~~98638058 1,~~195~~193.0637 II-B-4 682.9801 ~~806~~805,~~061~~379.7675 0.~~98721587~~98638059 682.9801 II-B-5 ~~512~~511.1744 ~~604~~603,~~472~~960.2883 0.~~98721587~~98638058 ~~512~~511.1744 II-B-6 ~~682~~681.9599 ~~806~~805,~~035~~353.1920 0.~~98721588~~98638059 ~~682~~681.9599 Totals 109,~~380~~839,~~516~~799.7363 ~~493~~483,~~059~~219,~~083~~283.2260 0.~~56009951~~54892181 109,~~380~~839,~~516~~799.7363

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 148,666,550.00 ~~440~~423.~~15281454~~24331734 0.~~48108179~~46613963 1613.~~42841540~~94769005 0.00000000 I-A-2 198,473,900.00 ~~486~~474.~~86481568~~79967426 0.~~34969540~~34380248 1110.~~71544601~~22316158 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 110,784,000.00 ~~766~~764.~~89085057~~63434007 0.~~08323431~~08589706 27.~~17327620~~42951247 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 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 395,768,100.00 ~~581~~568.~~38883316~~24490597 0.~~49219432~~48079171 1211.~~65173287~~51344583 0.00000000 II-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-B-1 4,957,000.00 989.~~72938673~~04608231 0.~~68330442~~68878757 0.00000000 0.00000000 I-B-2 3,776,700.00 989.~~72938809~~04608256 0.~~68330288~~68878651 0.00000000 0.00000000 I-B-3 2,596,500.00 989.~~72938571~~04608126 0.~~68330445~~68878875 0.00000000 0.00000000 I-B-4 1,180,200.00 989.~~72938485~~04608541 0.~~68330791~~68879004 0.00000000 0.00000000 I-B-5 708,100.00 989.~~72937438~~04608106 0.~~68330744~~68878689 0.00000000 0.00000000 I-B-6 944,294.88 989.~~72938411~~04608061 0.~~68330350~~68878908 0.00000000 0.00000000 II-B-1 6,531,500.00 ~~988~~987.~~05233867~~21586925 0.~~83646942~~83528286 0.00000000 0.00000000 II-B-2 2,245,200.00 ~~988~~987.~~05233832~~21586941 0.~~83646891~~83528416 0.00000000 0.00000000 II-B-3 1,428,700.00 ~~988~~987.~~05234129~~21586757 0.~~83646672~~83528382 0.00000000 0.00000000 II-B-4 816,500.00 ~~988~~987.~~05233313~~21587263 0.~~83647275~~83528475 0.00000000 0.00000000 II-B-5 612,300.00 ~~988~~987.~~05234362~~21587457 0.~~83646905~~83527683 0.00000000 0.00000000 II-B-6 816,473.08 ~~988~~987.~~05234338~~21587979 0.~~83646359~~83528780 0.00000000 0.00000000 ~~(2)~~ All classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 1614.~~90949719~~41382967 ~~423~~408.~~24331734~~82948767 0.~~42324332~~40882949 1614.~~90949719~~41382967 I-A-2 0.00000000 1210.~~06514141~~56696407 ~~474~~464.~~79967426~~23271025 0.~~47479967~~46423271 1210.~~06514141~~56696407 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.00000000 27.~~25651051~~51540954 ~~764~~757.~~63434007~~11893053 0.~~76463434~~75711893 27.~~25651051~~51540954 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 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 1311.~~14392719~~99423753 ~~568~~556.~~24490597~~25066843 0.~~56824491~~55625067 1311.~~14392719~~99423753 II-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-B-1 0.00000000 0.~~68330442~~68878757 ~~989~~988.~~04608231~~35729473 0.~~98904608~~98835729 0.~~68330442~~68878757 I-B-2 0.00000000 0.~~68330288~~68878651 ~~989~~988.~~04608256~~35729605 0.~~98904608~~98835730 0.~~68330288~~68878651 I-B-3 0.00000000 0.~~68330445~~68878875 ~~989~~988.~~04608126~~35729636 0.~~98904608~~98835730 0.~~68330445~~68878875 I-B-4 0.00000000 0.~~68330791~~68879004 ~~989~~988.~~04608541~~35729537 0.~~98904609~~98835730 0.~~68330791~~68879004 I-B-5 0.00000000 0.~~68330744~~68878689 ~~989~~988.~~04608106~~35729417 0.~~98904608~~98835729 0.~~68330744~~68878689 I-B-6 0.00000000 0.~~68330350~~68878908 ~~989~~988.~~04608061~~35729153 0.~~98904608~~98835729 0.~~68330350~~68878908 II-B-1 0.00000000 0.~~83646942~~83528286 ~~987~~986.~~21586925~~38058639 0.~~98721587~~98638059 0.~~83646942~~83528286 II-B-2 0.00000000 0.~~83646891~~83528416 ~~987~~986.~~21586941~~38058525 0.~~98721587~~98638059 0.~~83646891~~83528416 II-B-3 0.00000000 0.~~83646672~~83528382 ~~987~~986.~~21586757~~38058375 0.~~98721587~~98638058 0.~~83646672~~83528382 II-B-4 0.00000000 0.~~83647275~~83528475 ~~987~~986.~~21587263~~38058788 0.~~98721587~~98638059 0.~~83647275~~83528475 II-B-5 0.00000000 0.~~83646905~~83527683 ~~987~~986.~~21587457~~38058141 0.~~98721587~~98638058 0.~~83646905~~83527683 II-B-6 0.00000000 0.~~83646359~~83528780 ~~987~~986.~~21587979~~38059200 0.~~98721588~~98638059 0.~~83646359~~83528780 (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-1 148,666,550.00 4.~~14582~~14327% 6562,~~436~~922,~~000~~123.4180 ~~226~~217,~~071~~253.2900 0.00 0.00 I-A-2 198,473,900.00 3.~~95193~~94577% 9694,~~629~~235,~~958~~343.7407 ~~318~~309,~~229~~859.2907 0.00 0.00 I-X 0.00 0.55900% 9694,~~629~~235,~~958~~343.7407 4543,~~013~~897.4696 0.00 0.00 I-A-3 110,784,000.00 4.~~47897~~47854% 84,~~959~~709,~~235~~250.9973 ~~317~~316,~~108~~145.5103 0.00 0.00 R-I 50.00 4.~~23400~~23162% 0.00 0.00 0.00 0.00 R-II 50.00 0.00000% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~23400~~23162% 0.00 0.00 0.00 0.00 R-IV 50.00 4.~~23400~~23162% 0.00 0.00 0.00 0.00 II-A-1 395,768,100.00 4.~~56769~~56710% ~~230~~224,~~095~~893,~~153~~206.8677 ~~875~~855,~~836~~923.5996 0.00 0.00 II-X 0.00 0.39300% ~~230~~224,~~095~~893,~~153~~206.8677 7573,~~356~~652.1653 0.00 0.00 I-B-1 4,957,000.00 4.~~38524~~38168% 4,~~906~~902,~~088~~701.5743 17,~~928~~901.6375 0.00 0.00 I-B-2 3,776,700.00 4.~~38524~~38168% 3,~~737~~735,~~910~~330.9834 13,~~659~~639.6920 0.00 0.00 I-B-3 2,596,500.00 4.~~38524~~38168% 2,~~569~~568,~~832~~058.3515 9,~~391~~377.1002 0.00 0.00 I-B-4 1,180,200.00 4.~~38524~~38168% 1,~~168~~167,~~078~~272.6219 4,~~268~~262.5818 0.00 0.00 I-B-5 708,100.00 4.~~38524~~38168% 700,~~827~~343.3753 2,~~561~~557.0824 0.00 0.00 I-B-6 944,294.88 4.~~38524~~38168% ~~934~~933,~~596~~951.3915 3,~~415~~410.3623 0.00 0.00 II-B-1 6,531,500.00 4.~~96069~~96010% 6,~~453~~448,~~463~~000.8545 26,~~678~~652.0425 0.00 0.00 II-B-2 2,245,200.00 4.~~96069~~96010% 2,~~218~~216,~~375~~497.1107 9,~~170~~161.5670 0.00 0.00 II-B-3 1,428,700.00 4.~~96069~~96010% 1,~~411~~410,~~630~~435.3831 5,~~835~~829.5591 0.00 0.00 II-B-4 816,500.00 4.~~96069~~96010% 806,~~744~~061.7376 3,~~335~~331.0179 0.00 0.00 II-B-5 612,300.00 4.~~96069~~96010% 604,~~984~~472.4528 2,~~500~~498.9553 0.00 0.00 II-B-6 816,473.08 4.~~96069~~96010% 806,~~718~~035.1419 3,~~334~~331.9068 0.00 0.00 Totals 880,306,217.96 1,~~959~~918,~~694~~685.7503 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 ~~226~~217,~~071~~253.2900 0.00 6260,~~922~~779,~~123~~269.8047 I-A-2 0.00 0.00 ~~318~~309,~~229~~859.2807 0.00 9492,~~235~~138,~~343~~076.0751 I-X 0.00 0.00 4543,~~013~~897.4696 0.00 9492,~~235~~138,~~343~~076.0751 I-A-3 0.00 0.00 ~~317~~316,~~108~~145.5103 0.00 8483,~~709~~876,~~250~~663.7360 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 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 II-A-1 0.00 0.00 ~~875~~855,~~836~~923.6096 0.00 ~~224~~220,~~893~~146,~~206~~270.7717 II-X 0.00 0.00 7573,~~356~~652.1653 0.00 ~~224~~220,~~893~~146,~~206~~270.7717 I-B-1 0.00 0.00 17,~~928~~901.6375 0.00 4,~~902~~899,~~701~~287.4311 I-B-2 0.00 0.00 13,~~659~~639.6920 0.00 3,~~735~~732,~~330~~729.3400 I-B-3 0.00 0.00 9,~~391~~377.1002 0.00 2,~~568~~566,~~058~~269.1572 I-B-4 0.00 0.00 4,~~268~~262.5818 0.00 1,~~167~~166,~~272~~459.1928 I-B-5 0.00 0.00 2,~~561~~557.0824 0.00 ~~700~~699,~~343~~855.5380 I-B-6 0.00 0.00 3,~~415~~410.3623 0.00 933,~~951~~300.1573 II-B-1 0.00 0.00 26,~~678~~652.0425 0.00 6,~~448~~442,~~000~~544.4580 II-B-2 0.00 0.00 9,~~170~~161.5670 0.00 2,~~216~~214,~~497~~621.0769 II-B-3 0.00 0.00 5,~~835~~829.5591 0.00 1,~~410~~409,~~435~~241.3194 II-B-4 0.00 0.00 3,~~335~~331.0179 0.00 ~~806~~805,~~061~~379.7675 II-B-5 0.00 0.00 2,~~500~~498.9553 0.00 ~~604~~603,~~472~~960.2883 II-B-6 0.00 0.00 3,~~334~~331.9068 0.00 ~~806~~805,~~035~~353.1920 Totals 0.00 0.00 1,~~959~~918,~~694~~685.7503 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-1 148,666,550.00 4.~~14582~~14327% ~~440~~423.~~15281454~~24331734 1.~~52066009~~46134420 0.00000000 0.00000000 I-A-2 198,473,900.00 3.~~95193~~94577% ~~486~~474.~~86481568~~79967426 1.~~60338105~~56120815 0.00000000 0.00000000 I-X 0.00 0.55900% ~~486~~474.~~86481568~~79967426 0.~~22679788~~22117749 0.00000000 0.00000000 I-A-3 110,784,000.00 4.~~47897~~47854% ~~766~~764.~~89085057~~63434007 2.~~86240351~~85370658 0.00000000 0.00000000 R-I 50.00 4.~~23400~~23162% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~23400~~23162% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 4.~~23400~~23162% 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 395,768,100.00 4.~~56769~~56710% ~~581~~568.~~38883316~~24490597 2.~~21300451~~16269063 0.00000000 0.00000000 II-X 0.00 0.39300% ~~581~~568.~~38883316~~24490597 0.~~19040484~~18610022 0.00000000 0.00000000 I-B-1 4,957,000.00 4.~~38524~~38168% 989.~~72938673~~04608231 3.~~61683074~~61140811 0.00000000 0.00000000 I-B-2 3,776,700.00 4.~~38524~~38168% 989.~~72938809~~04608256 3.~~61683216~~61140678 0.00000000 0.00000000 I-B-3 2,596,500.00 4.~~38524~~38168% 989.~~72938571~~04608126 3.~~61683035~~61140766 0.00000000 0.00000000 I-B-4 1,180,200.00 4.~~38524~~38168% 989.~~72938485~~04608541 3.~~61682766~~61140485 0.00000000 0.00000000 I-B-5 708,100.00 4.~~38524~~38168% 989.~~72937438~~04608106 3.~~61683378~~61141082 0.00000000 0.00000000 I-B-6 944,294.88 4.~~38524~~38168% 989.~~72938411~~04608061 3.~~61683630~~61140368 0.00000000 0.00000000 II-B-1 6,531,500.00 4.~~96069~~96010% ~~988~~987.~~05233867~~21586925 4.~~08451964~~08057108 0.00000000 0.00000000 II-B-2 2,245,200.00 4.~~96069~~96010% ~~988~~987.~~05233832~~21586941 4.~~08451808~~08057189 0.00000000 0.00000000 II-B-3 1,428,700.00 4.~~96069~~96010% ~~988~~987.~~05234129~~21586757 4.~~08451739~~08056975 0.00000000 0.00000000 II-B-4 816,500.00 4.~~96069~~96010% ~~988~~987.~~05233313~~21587263 4.~~08451929~~08057563 0.00000000 0.00000000 II-B-5 612,300.00 4.~~96069~~96010% ~~988~~987.~~05234362~~21587457 4.~~08451739~~08056508 0.00000000 0.00000000 II-B-6 816,473.08 4.~~96069~~96010% ~~988~~987.~~05234338~~21587979 4.~~08451923~~08057544 0.00000000 0.00000000 All classes are per $1,000 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-1 0.00000000 0.00000000 1.~~52066009~~46134420 0.00000000 ~~423~~408.~~24331734~~82948767 I-A-2 0.00000000 0.00000000 1.~~60338100~~56120815 0.00000000 ~~474~~464.~~79967426~~23271025 I-X 0.00000000 0.00000000 0.~~22679788~~22117749 0.00000000 ~~474~~464.~~79967426~~23271025 I-A-3 0.00000000 0.00000000 2.~~86240351~~85370658 0.00000000 ~~764~~757.~~63434007~~11893053 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 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 0.00000000 2.~~21300453~~16269063 0.00000000 ~~568~~556.~~24490597~~25066843 II-X 0.00000000 0.00000000 0.~~19040484~~18610022 0.00000000 ~~568~~556.~~24490597~~25066843 I-B-1 0.00000000 0.00000000 3.~~61683074~~61140811 0.00000000 ~~989~~988.~~04608231~~35729473 I-B-2 0.00000000 0.00000000 3.~~61683216~~61140678 0.00000000 ~~989~~988.~~04608256~~35729605 I-B-3 0.00000000 0.00000000 3.~~61683035~~61140766 0.00000000 ~~989~~988.~~04608126~~35729636 I-B-4 0.00000000 0.00000000 3.~~61682766~~61140485 0.00000000 ~~989~~988.~~04608541~~35729537 I-B-5 0.00000000 0.00000000 3.~~61683378~~61141082 0.00000000 ~~989~~988.~~04608106~~35729417 I-B-6 0.00000000 0.00000000 3.~~61683630~~61140368 0.00000000 ~~989~~988.~~04608061~~35729153 II-B-1 0.00000000 0.00000000 4.~~08451964~~08057108 0.00000000 ~~987~~986.~~21586925~~38058639 II-B-2 0.00000000 0.00000000 4.~~08451808~~08057189 0.00000000 ~~987~~986.~~21586941~~38058525 II-B-3 0.00000000 0.00000000 4.~~08451739~~08056975 0.00000000 ~~987~~986.~~21586757~~38058375 II-B-4 0.00000000 0.00000000 4.~~08451929~~08057563 0.00000000 ~~987~~986.~~21587263~~38058788 II-B-5 0.00000000 0.00000000 4.~~08451739~~08056508 0.00000000 ~~987~~986.~~21587457~~38058141 II-B-6 0.00000000 0.00000000 4.~~08451923~~08057544 0.00000000 ~~987~~986.~~21587979~~38059200 (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 1211,~~462~~868,~~515~~420.7502 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1529,~~476~~929.7806 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1211,~~477~~898,~~992~~349.5308 Withdrawals Reimbursement for Servicer Advances 1015,~~933~~476.7278 Payment of Service Fee ~~126~~124,~~847~~387.3165 Payment of Interest and Principal 1211,~~340~~758,~~211~~484.5065 Total Withdrawals (Pool Distribution Amount) 1211,~~477~~898,~~992~~349.5308 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~116~~114,~~205~~034.2517 Additional Servicing Fees 10,~~541~~252.1771 Miscellaneous Fee 100.8977 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~126~~124,~~847~~387.3165

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 10 0 0 10 ~~509,994~~0.7600 0.00 0.00 ~~509,994~~0.7600 30 Days 69 0 0 0 69 25,~~696~~132,~~282~~916.8510 0.00 0.00 0.00 25,~~696~~132,~~282~~916.8510 60 Days 02 0 0 0 02 01,033,041.0023 0.00 0.00 0.00 01,033,041.0023 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 10 0 10 0.00 0.00 ~~262,084~~0.9800 0.00 ~~262,084~~0.9800 150 Days 0 0 01 0 01 0.00 0.00 0262,084.0098 0.00 0262,084.0098 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 611 10 1 0 812 26,~~696~~165,~~282~~957.8533 ~~509,994~~0.7600 262,084.98 0.00 36,~~468~~428,~~362~~042.5931 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.~~091912~~000000% 0.000000% 0.000000% 0.~~091912~~000000% 0.~~103376~~000000% 0.000000% 0.000000% 0.~~103376~~000000% 30 Days 0.~~551471~~845070% 0.000000% 0.000000% 0.000000% 0.~~551471~~845070% 01.~~546538~~061622% 0.000000% 0.000000% 0.000000% 01.~~546538~~061622% 60 Days 0.~~000000~~187793% 0.000000% 0.000000% 0.000000% 0.~~000000~~187793% 0.~~000000~~213660% 0.000000% 0.000000% 0.000000% 0.~~000000~~213660% 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.~~091912~~000000% 0.000000% 0.~~091912~~000000% 0.000000% 0.000000% 0.~~053125~~000000% 0.000000% 0.~~053125~~000000% 150 Days 0.000000% 0.000000% 0.~~000000~~093897% 0.000000% 0.~~000000~~093897% 0.000000% 0.000000% 0.~~000000~~054206% 0.000000% 0.~~000000~~054206% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~551471~~032864% 0.~~091912~~000000% 0.~~091912~~093897% 0.000000% 01.~~735294~~126761% 01.~~546538~~275282% 0.~~103376~~000000% 0.~~053125~~054206% 0.000000% 01.~~703039~~329489%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-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 13 0 0 0 13 ~~389~~1,~~241~~384,204.0012 0.00 0.00 0.00 ~~389~~1,~~241~~384,204.0012 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 13 0 0 0 13 ~~389~~1,~~241~~384,204.0012 0.00 0.00 0.00 ~~389~~1,~~241~~384,204.0012 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~574713~~796407% 0.000000% 0.000000% 0.000000% 01.~~574713~~796407% 02.~~576681~~118210% 0.000000% 0.000000% 0.000000% 02.~~576681~~118210% 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.~~574713~~796407% 0.000000% 0.000000% 0.000000% 01.~~574713~~796407% 02.~~576681~~118210% 0.000000% 0.000000% 0.000000% 02.~~576681~~118210% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-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 32 0 0 0 32 1665,~~274,000~~272.6236 0.00 0.00 0.00 1665,~~274,000~~272.6236 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 10 0 10 0.00 0.00 ~~262,084~~0.9800 0.00 ~~262,084~~0.9800 150 Days 0 0 01 0 01 0.00 0.00 0262,084.0098 0.00 0262,084.0098 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 32 0 1 0 43 1665,~~274,000~~272.6236 0.00 262,084.98 0.00 1927,~~536,085~~357.6034 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~214575~~819672% 0.000000% 0.000000% 0.000000% 10.~~214575~~819672% 10.~~269440~~677043% 0.000000% 0.000000% 0.000000% 10.~~269440~~677043% 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.~~404858~~000000% 0.000000% 0.~~404858~~000000% 0.000000% 0.000000% 0.~~261147~~000000% 0.000000% 0.~~261147~~000000% 150 Days 0.000000% 0.000000% 0.~~000000~~409836% 0.000000% 0.~~000000~~409836% 0.000000% 0.000000% 0.~~000000~~266722% 0.000000% 0.~~000000~~266722% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 10.~~214575~~819672% 0.000000% 0.~~404858~~409836% 0.000000% 1.~~619433~~229508% 10.~~269440~~677043% 0.000000% 0.~~261147~~266722% 0.000000% 10.~~530587~~943765% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I-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 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 10 0 0 10 ~~509,994~~0.7600 0.00 0.00 ~~509,994~~0.7600 30 Days 24 0 0 0 24 13,~~033~~083,~~041~~439.2362 0.00 0.00 0.00 13,~~033~~083,~~041~~439.2362 60 Days 02 0 0 0 02 01,033,041.0023 0.00 0.00 0.00 01,033,041.0023 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 26 10 0 0 36 14,~~033~~116,~~041~~480.2385 ~~509,994~~0.7600 0.00 0.00 14,~~543~~116,~~035~~480.9985 0-29 Days 0.~~186916~~000000% 0.000000% 0.000000% 0.~~186916~~000000% 0.~~214878~~000000% 0.000000% 0.000000% 0.~~214878~~000000% 30 Days 0.~~373832~~763359% 0.000000% 0.000000% 0.000000% 0.~~373832~~763359% 01.~~435255~~325752% 0.000000% 0.000000% 0.000000% 01.~~435255~~325752% 60 Days 0.~~000000~~381679% 0.000000% 0.000000% 0.000000% 0.~~000000~~381679% 0.~~000000~~444165% 0.000000% 0.000000% 0.000000% 0.~~000000~~444165% 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.~~373832~~145038% 0.~~186916~~000000% 0.000000% 0.000000% 01.~~560748~~145038% 01.~~435255~~769917% 0.~~214878~~000000% 0.000000% 0.000000% 01.~~650134~~769917%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1529,~~476~~929.7806

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~973487~~972400% Weighted Average Net Coupon 4.~~696500~~694866% Weighted Average Pass-Through Rate 4.~~671134~~669668% Weighted Average Maturity(Stepdown Calculation ) ~~341~~340 Beginning Scheduled Collateral Loan Count 1,~~112~~088 Number Of Loans Paid In Full 2423 Ending Scheduled Collateral Loan Count 1,~~088~~065 Beginning Scheduled Collateral Balance ~~503~~493,~~439~~059,~~599~~083.8714 Ending Scheduled Collateral Balance ~~493~~483,~~059~~219,~~083~~283.1452 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~493~~483,~~338~~497,~~722~~370.1090 Monthly P &I Constant 2,~~451~~400,~~576~~560.1990 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~493~~483,~~059~~219,~~083~~283.1452 Scheduled Principal ~~365~~357,~~034~~488.1222 Unscheduled Principal 109,~~015,~~482,311.6140

Miscellaneous Reporting Average Loss Severity Group I-1 0.00 Average Loss Severity Group I-2 0.00 Average Loss Severity Group I-3 0.00 Average Loss Severity Group II 0.00 Diverted Amount 0.00 Senior Percentage Group I-1 93.~~530662~~296385% Senior Percentage Group I-2 9493.~~090516~~953519% Senior Percentage Group I-3 96.~~127842~~117263% Senior Percentage Group II 94.~~924891~~817752% Senior Prepayment Percentage Group I-1 100.000000% Senior Prepayment Percentage Group I-2 100.000000% Senior Prepayment Percentage Group I-3 100.000000% Senior Prepayment Percentage Group II 100.000000% Subordinate Percentage Group I-1 6.~~469338~~703615% Subordinate Percentage Group I-2 56.~~909484~~046481% Subordinate Percentage Group I-3 3.~~872158~~882737% Subordinate Percentage Group II 5.~~075109~~182248% Subordinate Prepayment Percent Group I-1 0.000000% Subordinate Prepayment Percent Group I-2 0.000000% Subordinate Prepayment Percent Group I-3 0.000000% Subordinate Prepayment Percent Group II 0.000000%

Group Level Collateral Statement Group Group I-1 Group I-2 Group I-3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~404490~~402263 4.~~830773~~824752 4.~~778974~~778543 Weighted Average Net Rate 4.~~150744~~148380 4.~~630745~~624000 4.~~478974~~478543 Weighted Average Maturity ~~341~~340 ~~341~~ 340 339 Beginning Loan Count ~~181~~174 ~~253~~247 132 Loans Paid In Full 7 63 02 Ending Loan Count ~~174~~167 ~~247~~244 ~~132~~130 Beginning Scheduled Balance 6967,~~962~~443,~~084~~260.4184 ~~102~~100,~~698~~299,~~936~~961.5073 88,~~381~~131,~~508~~151.5282 Ending scheduled Balance 6765,~~443~~295,~~260~~427.8415 ~~100~~98,~~299~~198,~~961~~303.7377 8887,~~131~~298,~~151~~180.8228 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~333~~321,~~257~~697.1487 ~~487~~475,~~193~~895.8694 ~~361~~360,~~569~~849.9219 Scheduled Principal 7674,~~467~~278.73 7372,~~764~~627.5121 9,~~592~~900.4743 Unscheduled Principal 2,~~442~~073,~~355~~554.8496 2,~~325~~029,~~210~~030.2675 ~~240~~823,~~764~~071.2311 Scheduled Interest ~~256~~247,~~789~~419.4114 ~~413~~403,~~429~~268.3573 ~~351~~350,~~977~~948.4576 Servicing Fees 14,~~793~~268.8093 1716,~~118~~779.8852 22,~~095~~032.3879 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 ~~287~~286.3995 109,~~253~~965.7876 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 ~~241~~232,~~708~~863.2226 ~~386~~376,~~056~~523.6945 ~~329~~328,~~882~~915.0797 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.~~145815~~143274 4.~~510933~~504769 4.~~478974~~478543

Group Level Collateral Statement Group Group II Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~269103~~268987 4.~~973487~~972400 Weighted Average Net Rate 4.~~961192~~960605 4.~~696500~~694866 Weighted Average Maturity ~~341~~340 ~~341~~340 Beginning Loan Count ~~546~~535 1,~~112~~088 Loans Paid In Full 11 2423 Ending Loan Count ~~535~~524 1,~~088~~065 Beginning Scheduled Balance ~~242~~237,~~397~~184,~~070~~708.4475 ~~503~~493,~~439~~059,~~599~~083.8714 Ending scheduled Balance ~~237~~232,~~184~~427,~~708~~372.7532 ~~493~~483,~~059~~219,~~083~~283.1452 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 1,~~269~~242,~~555~~117.2790 2,~~451~~400,~~576~~560.1990 Scheduled Principal ~~205~~200,~~209~~681.4185 ~~365~~357,~~034~~488.1222 Unscheduled Principal 54,~~007~~556,~~152~~654.2858 109,~~015,~~482,311.6140 Scheduled Interest 1,~~064~~041,~~345~~436.8605 2,~~086~~043,~~542~~072.0768 Servicing Fees 6260,~~197~~952.1993 ~~116~~114,~~205~~034.2517 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 100.8977 10,~~642~~353.0648 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 1980,~~002,047~~382.7835 1,~~959~~918,~~694~~685.7603 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 4.~~960693~~960096 4.~~671134~~669668

Filing Compare · BEAR STEARNS ARM TRUST 2003-5