8-K 1 bsa03ac3_dec.txt DECEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2004 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2003-AC3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-06 54-2121818 Pooling and Servicing Agreement) (Commission 54-2121819 (State or other File Number) 54-2121820 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On December 27, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2003-AC3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2003-AC3 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 ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2003-AC3 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 Asset Backed Certificates, Series 2003-AC3 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Mortgage~~Asset ~~Pass-Through~~Backed Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~BSA~~Bear Stearns Asset Backed Securities Asset Backed Certificates Series: 2003-AC3 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 A-1 07384YJH0 SEN 4.00000% ~~107~~102,~~373~~579,~~557~~641.9120 ~~357~~341,~~911~~932.8614 45,~~793~~004,~~916~~757.7188 A-IO 07384YJJ6 IO 5.00000% 0.00 153,291.67 0.00 M-1 07384YJK3 MEZ 4.40300% 7,~~803~~454,~~081~~696.5265 2827,~~630~~352.8152 ~~348~~363,~~384~~707.8718 M-2 07384YJL1 MEZ 4.~~43250~~68000% 5,~~849~~587,~~002~~861.5966 2321,~~045~~066.0724 ~~261~~272,~~140~~626.9317 M-3 07384YJY3 MEZ 4.65400% 1972,~~018,014~~562.0468 3,~~948~~771.2092 4547,~~451~~450.36 B-1 07384YJM9 SUB 5.~~43250~~68000% 2,~~809~~683,~~211~~788.2818 1312,~~565~~279.3782 ~~125~~130,~~423~~939.1034 C 07384YKA3 SEN 0.00000% 1,226,438.00 9485,~~654~~498.5901 0.00 P 07384YJZ0 SEN 0.00000% 100.00 3214,~~129~~742.0079 0.00 R-1 07384YKB1 RES 0.00000% 0.00 0.00 0.00 R-2 07384YKC9 RES 0.00000% 0.00 0.00 0.00 R-3 07384YKD7 RES 0.00000% 0.00 0.00 0.00 Totals ~~126~~120,~~079~~505,~~405~~088.3437 ~~707~~659,~~176~~935.5711 5,~~574~~819,~~316~~480.9793

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~102~~97,~~579~~574,~~641~~883.2032 5,~~151~~346,~~828~~690.5702 0.00 A-IO 0.00 0.00 153,291.67 0.00 M-1 0.00 7,~~454~~090,~~696~~989.6548 ~~377~~391,~~015~~059.6870 0.00 M-2 0.00 5,~~587~~315,~~861~~235.6649 ~~284~~293,~~186~~692.0041 0.00 M-3 0.00 ~~972~~925,~~562~~112.6832 4951,~~399~~222.5628 0.00 B-1 0.00 2,~~683~~552,~~788~~848.1884 ~~138~~143,~~988~~219.4716 0.00 C 0.00 1,226,438.00 9485,~~654~~498.5901 0.00 P 0.00 100.00 3214,~~129~~742.0079 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 ~~120~~114,~~505~~685,~~088~~607.3745 6,~~281~~479,~~493~~416.5404 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) A-1 210,947,000.00 ~~107~~102,~~373~~579,~~557~~641.9120 0.00 45,~~793~~004,~~916~~757.7188 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 15,330,000.00 7,~~803~~454,~~081~~696.5265 0.00 ~~348~~363,~~384~~707.8718 0.00 0.00 M-2 11,491,000.00 5,~~849~~587,~~002~~861.5966 0.00 ~~261~~272,~~140~~626.9317 0.00 0.00 M-3 2,000,000.00 1972,~~018,014~~562.0468 0.00 4547,~~451~~450.36 0.00 0.00 B-1 5,519,000.00 2,~~809~~683,~~211~~788.2818 0.00 ~~125~~130,~~423~~939.1034 0.00 0.00 C 478.38 1,226,438.00 0.00 0.00 0.00 0.00 P 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 245,287,578.38 ~~126~~120,~~079~~505,~~405~~088.3437 0.00 5,~~574~~819,~~316~~480.9793 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 A-1 45,~~793~~004,~~916~~757.7188 ~~102~~97,~~579~~574,~~641~~883.2032 0.~~48628158~~46255639 45,~~793~~004,~~916~~757.7188 A-IO 0.00 0.00 0.00000000 0.00 M-1 ~~348~~363,~~384~~707.8718 7,~~454~~090,~~696~~989.6548 0.~~48628158~~46255639 ~~348~~363,~~384~~707.8718 M-2 ~~261~~272,~~140~~626.9317 5,~~587~~315,~~861~~235.6649 0.~~48628158~~46255639 ~~261~~272,~~140~~626.9317 M-3 4547,~~451~~450.36 ~~972~~925,~~562~~112.6832 0.~~48628134~~46255616 4547,~~451~~450.36 B-1 ~~125~~130,~~423~~939.1034 2,~~683~~552,~~788~~848.1884 0.~~48628161~~46255641 ~~125~~130,~~423~~939.1034 C 0.00 1,226,438.00 2,563.73176136 0.00 P 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 5,~~574~~819,~~316~~480.9793 ~~120~~114,~~505~~685,~~088~~607.3745 0.~~49128084~~46755571 5,~~574~~819,~~316~~480.9793

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 210,947,000.00 ~~509~~486.~~00727628~~28158353 0.00000000 2223.~~72569276~~72519107 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 15,330,000.00 ~~509~~486.~~00727462~~28158187 0.00000000 2223.~~72569276~~72519113 0.00000000 M-2 11,491,000.00 ~~509~~486.~~00727439~~28158211 0.00000000 2223.~~72569228~~72519102 0.00000000 M-3 2,000,000.00 ~~509~~486.~~00702000~~28134000 0.00000000 2223.~~72568000~~72518000 0.00000000 B-1 5,519,000.00 ~~509~~486.~~00729842~~28160536 0.00000000 2223.~~72569306~~72519297 0.00000000 C 478.38 2563731.76136126 0.00000000 0.00000000 0.00000000 P 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 A-1 0.00000000 2223.~~72569276~~72519107 ~~486~~462.~~28158353~~55639246 0.~~48628158~~46255639 2223.~~72569276~~72519107 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 2223.~~72569276~~72519113 ~~486~~462.~~28158187~~55639139 0.~~48628158~~46255639 2223.~~72569276~~72519113 M-2 0.00000000 2223.~~72569228~~72519102 ~~486~~462.~~28158211~~55639109 0.~~48628158~~46255639 2223.~~72569228~~72519102 M-3 0.00000000 2223.~~72568000~~72518000 ~~486~~462.~~28134000~~55616000 0.~~48628134~~46255616 2223.~~72568000~~72518000 B-1 0.00000000 2223.~~72569306~~72519297 ~~486~~462.~~28160536~~55641239 0.~~48628161~~46255641 2223.~~72569306~~72519297 C 0.00000000 0.00000000 2,563,731.76136126 2563.73176136 0.00000000 P 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 A-1 210,947,000.00 4.00000% ~~107~~102,~~373~~579,~~557~~641.9120 ~~357~~341,~~911~~932.8614 0.00 0.00 A-IO 0.00 5.00000% 36,790,000.00 153,291.67 0.00 0.00 M-1 15,330,000.00 4.40300% 7,~~803~~454,~~081~~696.5265 2827,~~630~~352.8152 0.00 0.00 M-2 11,491,000.00 4.~~43250~~68000% 5,~~849~~587,~~002~~861.5966 2321,~~045~~066.0724 0.00 0.00 M-3 2,000,000.00 4.65400% 1972,~~018,014~~562.0468 3,~~948~~771.2092 0.00 0.00 B-1 5,519,000.00 5.~~43250~~68000% 2,~~809~~683,~~211~~788.2818 1312,~~565~~279.3782 0.00 0.00 C 478.38 0.00000% 1,226,438.00 0.00 0.00 0.00 P 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 245,287,578.38 ~~580~~559,~~392~~694.9831 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 A-1 0.00 0.00 ~~357~~341,~~911~~932.8614 0.00 ~~102~~97,~~579~~574,~~641~~883.2032 A-IO 0.00 0.00 153,291.67 0.00 3629,~~790~~432,000.00 M-1 0.00 0.00 2827,~~630~~352.8152 0.00 7,~~454~~090,~~696~~989.6548 M-2 0.00 0.00 2321,~~045~~066.0724 0.00 5,~~587~~315,~~861~~235.6649 M-3 0.00 0.00 3,~~948~~771.2092 0.00 ~~972~~925,~~562~~112.6832 B-1 0.00 0.00 1312,~~565~~279.3782 0.00 2,~~683~~552,~~788~~848.1884 C 0.00 0.00 9485,~~654~~498.5901 0.00 1,226,438.00 P 0.00 0.00 3214,~~129~~742.0079 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 ~~707~~659,~~176~~935.5711 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 A-1 210,947,000.00 4.00000% ~~509~~486.~~00727628~~28158353 1.~~69669092~~62093862 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666676 0.00000000 0.00000000 M-1 15,330,000.00 4.40300% ~~509~~486.~~00727462~~28158187 1.~~86763275~~78424788 0.00000000 0.00000000 M-2 11,491,000.00 4.~~43250~~68000% ~~509~~486.~~00727439~~28158211 21.~~00548864~~83328170 0.00000000 0.00000000 M-3 2,000,000.00 4.65400% ~~509~~486.~~00702000~~28134000 1.~~97410000~~88596000 0.00000000 0.00000000 B-1 5,519,000.00 5.~~43250~~68000% ~~509~~486.~~00729842~~28160536 2.~~45793984~~22500815 0.00000000 0.00000000 C 478.38 0.00000% 2563731.76136126 0.00000000 0.00000000 0.00000000 P 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 A-1 0.00000000 0.00000000 1.~~69669092~~62093862 0.00000000 ~~486~~462.~~28158353~~55639246 A-IO 0.00000000 0.00000000 4.16666676 0.00000000 ~~1000~~800.00000000 M-1 0.00000000 0.00000000 1.~~86763275~~78424788 0.00000000 ~~486~~462.~~28158187~~55639139 M-2 0.00000000 0.00000000 21.~~00548864~~83328170 0.00000000 ~~486~~462.~~28158211~~55639109 M-3 0.00000000 0.00000000 1.~~97410000~~88596000 0.00000000 ~~486~~462.~~28134000~~55616000 B-1 0.00000000 0.00000000 2.~~45793984~~22500815 0.00000000 ~~486~~462.~~28160536~~55641239 C 0.00000000 0.00000000 ~~197864~~178724.~~85639032~~04782809 0.00000000 2563731.76136126 P 0.00000000 0.00000000 ~~321290~~147427.~~00000000~~90000000 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 6,~~306~~504,~~110~~254.8540 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3739,~~156~~462.1982 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 6,~~343~~543,~~267~~717.0422 Withdrawals Reimbursement for Servicer Advances 3337,~~374~~156.2419 Payment of Service Fee 2827,~~399~~145.2600 Payment of Interest and Principal 6,~~281~~479,~~493~~416.5403 Total Withdrawals (Pool Distribution Amount) 6,~~343~~543,~~267~~717.0422 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2625,~~266~~105.5523 Master Servicing Fee 2,~~101~~008.3341 Miscellaneous Fee 31.3836 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2827,~~399~~145.2600

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 5,000.00 ~~751~~1,746.6042 ~~751~~1,746.6042 5,000.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 2 0 0 2 ~~562~~655,~~747~~955.3613 0.00 0.00 ~~562~~655,~~747~~955.3613 30 Days 1011 0 0 0 1011 1,~~157~~197,~~692~~593.5716 0.00 0.00 0.00 1,~~157~~197,~~692~~593.5716 60 Days 6 01 0 0 67 1,~~097~~033,~~498~~943.6269 0125,089.0036 0.00 0.00 1,~~097~~159,~~498~~033.6205 90 Days 10 0 23 0 3 ~~310,168~~0.6400 0.00 ~~372~~489,~~116~~640.7262 0.00 ~~682~~489,~~285~~640.3662 120 Days 10 0 2 0 32 ~~643,818~~0.0500 0.00 ~~118~~441,~~265~~367.1807 0.00 ~~762~~441,~~083~~367.2307 150 Days 1 0 2 0 03 2643,818.05 0.00 ~~167~~118,~~418~~265.3618 0.00 ~~0.00 167~~762,~~418~~083.3623 180+ Days 5 13 2 0 810 1,346,~~742~~621.4026 ~~160~~327,~~002~~420.6399 200,925.22 0.00 1,~~707~~874,~~670~~967.2547 Totals 23 5 6 9 0 3438 4,~~555~~221,~~920~~976.2816 ~~890~~1,~~168~~108,465.3548 ~~691~~1,~~307~~250,198.1209 0.00 6,~~137~~580,~~395~~639.7573 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.~~365631~~380952% 0.000000% 0.000000% 0.~~365631~~380952% 0.~~466363~~571144% 0.000000% 0.000000% 0.~~466363~~571144% 30 Days 12.~~828154~~095238% 0.000000% 0.000000% 0.000000% 12.~~828154~~095238% 01.~~959409~~042751% 0.000000% 0.000000% 0.000000% 01.~~959409~~042751% 60 Days 1.~~096892~~142857% 0.~~000000~~190476% 0.000000% 0.000000% 1.~~096892~~333333% 0.~~909525~~900260% 0.~~000000~~108916% 0.000000% 0.000000% 01.~~909525~~009176% 90 Days 0.~~182815~~000000% 0.000000% 0.~~365631~~571429% 0.000000% 0.~~548446~~571429% 0.~~257045~~000000% 0.000000% 0.~~308382~~426333% 0.000000% 0.~~565427~~426333% 120 Days 0.~~182815~~000000% 0.000000% 0.~~365631~~380952% 0.000000% 0.~~548446~~380952% 0.~~533548~~000000% 0.000000% 0.~~098009~~384301% 0.000000% 0.~~631557~~384301% 150 Days 0.~~000000~~190476% 0.~~365631~~000000% 0.~~000000~~380952% 0.000000% 0.~~365631~~571429% 0.~~000000~~560576% 0.~~138744~~000000% 0.~~000000~~102974% 0.000000% 0.~~138744~~663550% 180+ Days 0.~~914077~~952381% 0.~~182815~~571429% 0.~~365631~~380952% 0.000000% 1.~~462523~~904762% 1.~~116079~~172511% 0.~~132598~~285087% 0.~~166512~~174947% 0.000000% 1.~~415189~~632545% Totals 4.~~204753~~380952% 01.~~914077~~142857% 1.~~096892~~714286% 0.000000% 67.~~215722~~238095% 3.~~775605~~676098% 0.~~737705~~965147% 01.~~572904~~088554% 0.000000% 5.~~086213~~729799%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3739,~~156~~462.1982

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~695274~~695929% Weighted Average Net Coupon 6.~~445274~~445929% Weighted Average Pass-Through Rate 6.~~424975~~425617% Weighted Average Maturity(Stepdown Calculation ) ~~323~~322 Beginning Scheduled Collateral Loan Count ~~571~~547 Number Of Loans Paid In Full 2422 Ending Scheduled Collateral Loan Count ~~547~~525 Beginning Scheduled Collateral Balance ~~126~~120,~~079~~505,~~405~~088.3537 Ending Scheduled Collateral Balance ~~120~~114,~~505~~685,~~088~~607.3745 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~120~~114,~~667~~849,~~286~~390.1625 Monthly P &I Constant ~~858~~821,~~969~~368.0384 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 ~~120~~114,~~505~~685,~~088~~607.3745 Scheduled Principal ~~155~~148,~~522~~957.2153 Unscheduled Principal 5,~~418~~670,~~794~~523.7739 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,226,438.00 Overcollateralized Amount 1,226,538.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~126~~99,~~783~~090.5993

Miscellaneous Reporting Net WAC Rate Carryover Amount Class A-1 0.00 Net WAC Rate Carryover Amount Class B-1 ~~751~~1,746.6042 Net WAC Rate Carryover Amount Class M-1 0.00 Net WAC Rate Carryover Amount Class M-2 0.00 Net WAC Rate Carryover Amount Class M-3 0.00 Three month rolling average 0.~~032265~~036348%

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC CERTS SER 2003-AC3