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) March 25, 2004

Bear Stearns Asset Backed Securities, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-91334
(Commission
File Number)

13-3836437
(IRS Employer
Identification No.)

383 Madison Avenue, New York, New York
(Address of principal executive offices)

10179
(Zip Code)

Registrant's telephone number, including area code 212-272-2000

(Former name or former address, if changed since last report.)

Item 5. Other Events and Regulation FD Disclosure.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities Trust 2004-HE2, Asset Backed Certificates, Series 2004-HE2 , which was made on March 25, 2004.

Item 7. Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 5.05 of the Pooling and Servicing Agreement for the distribution on March 25, 2004.
(Exhibit No. Description)

SIGNATURES

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.

LASALLE BANK NATIONAL ASSOCIATION IN ITS CAPACITY AS TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF BEAR STEARNS ASSET BACKED SECURITIES, INC., REGISTRANT

Date: April 6, 2004

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Administrator:
Christopher Lewis 312.904.7992
christopher.lewis@abnamro.com

Analyst:
Dinsmore Sohn 714.238.6758
dinsmore.sohn@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Shortfall Summary Report

Rating Information

Asset-Backed Facts ~ 15 Month Status Summary Part I
Asset-Backed Facts ~ 15 Month Payoff/Loss Summary

Realized Loss Detail

Page 2-4
Page 5-8
Page 9
Page 10

Page 11

Page 12-15
Page 16-19

Page 20

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

BS004HE2

BS004HE2_200403_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

27-Feb-04
25-Mar-04

27-Mar-34

Parties to The Transaction

Underwriter: Bear Stearns & Co. Inc.

Master Servicer: EMC Mortgage Corporation

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's Rating Services

800.246.5761

LaSalle Factor Line

LaSalle Web Site
Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 20

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.645768%

1.100000%
1.090000%

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

348

REMIC II

Statement Date:

ABN AMRO Acct: 721710.1

1000.000000000

12.796829466

0.000000000

987.203170534

0.960000000

1.270000000%

0.00

0.000000000

1.28000000%

0.000000000

07384YQV1

I-A-1

180,099,000.00

2,304,696.19

0.00

177,794,303.81

172,895.04

1000.000000000

0.000000000

1000.000000000

1.312500035

1.740000000%

0.00

0.000000000

1.75000000%

0.000000000

07384YQW9

I-A-2

142,314,000.00

0.00

142,314,000.00

186,787.13

1000.000000000

18.734468770

0.000000000

981.265531230

1.042499964

1.380000000%

0.00

0.000000000

1.39000000%

0.000000000

07384YQX7

II-A

69,565,000.00

1,303,263.32

0.00

68,261,736.68

72,521.51

1000.000000000

0.000000000

1000.000000000

1.275000000

1.690000000%

0.00

0.000000000

1.70000000%

0.000000000

07384YQY5

M-1

33,386,000.00

0.00

33,386,000.00

42,567.15

1000.000000000

0.000000000

1000.000000000

1.725000187

2.290000000%

0.00

0.000000000

2.30000000%

0.000000000

07384YQZ2

M-2

26,709,000.00

0.00

26,709,000.00

46,073.03

1000.000000000

0.000000000

1000.000000000

1.875000000

2.490000000%

0.00

0.000000000

2.50000000%

0.000000000

07384YRA6

M-3

8,656,000.00

0.00

8,656,000.00

16,230.00

1000.000000000

0.000000000

1000.000000000

2.137500778

2.840000000%

0.00

0.000000000

2.85000000%

0.000000000

07384YRB4

M-4

6,430,000.00

0.00

6,430,000.00

13,744.13

1000.000000000

0.000000000

1000.000000000

2.250000000

2.990000000%

0.00

0.000000000

3.00000000%

0.000000000

07384YRC2

M-5

7,172,000.00

0.00

7,172,000.00

16,137.00

1000.000000000

0.000000000

1000.000000000

3.262500809

4.340000000%

0.00

0.000000000

4.35000000%

0.000000000

07384YRD0

M-6

6,182,000.00

0.00

6,182,000.00

20,168.78

1000.000000000

0.000000000

1000.000000000

167.063255168

0.00

0.000000000

N/A

0.000000000

07384YRE8

14,096,567.72

0.00

14,096,567.72

2,355,018.49

1000.000000000

0.000000000

1000.000000000

69508.200000000

0.00

6,950.82

69508.200000000

N/A

0.000000000

07384YRF5

100.00

0.00

100.00

6,950.82

0.000000000

0.00

0.000000000

N/A

0.000000000

07384YRF5

R-1

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

07384YRH1

R-2

0.00

Total P&I Payment

0.00

6,950.82

494,609,567.72

6,557,052.59

Total

491,001,608.21

3,607,959.51

0.00

2,949,093.08

Page 2 of 20

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.645768%

1.100000%
1.090000%

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

348

REMIC III

Statement Date:

ABN AMRO Acct: 721710.1

1000.000000000

0.000000000

1000.000000000

167.063255168

0.00

2,355,018.49

167.063255168

N/A

0.000000000

14,096,567.72

0.00

14,096,567.72

2,355,018.49

0.000000000

0.00

0.000000000

N/A

0.000000000

R-3

0.00

Total P&I Payment

0.00

2,355,018.49

14,096,567.72

2,355,018.49

Total

14,096,567.72

0.00

2,355,018.49

Page 3 of 20

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.645768%

1.100000%
1.090000%

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE2

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

348

REMIC IV

Statement Date:

ABN AMRO Acct: 721710.1

1000.000000000

0.000000000

1000.000000000

69508.200000000

0.00

6,950.82

69508.200000000

N/A

0.000000000

100.00

0.00

100.00

6,950.82

0.000000000

0.00

0.000000000

N/A

0.000000000

07384YRJ7

R-X

0.00

Total P&I Payment

0.00

6,950.82

100.00

6,950.82

Total

100.00

0.00

6,950.82

Page 4 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Cash Reconciliation Summary

Statement Date:

Interest Summary

Total Trustee Fees

Available Interest

2,949,093.06

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

402,924.56

14,241.11

3,190,793.84

0.00
0.00
0.00

6,558,536.40

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

494,609,567.72

402,924.56

3,205,034.95

0.00
0.00
0.00

491,001,608.21

3,198

0
0

3,177

206,087.32

Extra Principal

Trigger Event

0.00

3,607,959.51

Overcollateralization Amount

14,096,567.72

Less Extra Principal

Remittance Interest

0.00

2,949,093.06

0.00

3,205,034.95

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,483.83

2,950,576.89

Total Fees

209,249.37

Insurance Premium

Reimbursement Amount

Other

Total Reimbursement Amount

Rolling 3-Month Delinquency

0.00
0.00

Class II-A Policy - Interest
Class II-A Policy - Principal

0.09%

Total LPMI Fee

1,678.22

1,483.83

N/A

Page 5 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Cash Reconciliation Summary

Statement Date:

Fixed Loans

Interest Summary

Total Trustee Fees

Available Interest

897,017.35

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

162,058.42

6,707.10

865,597.83

0.00
0.00
0.00

1,931,847.53

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

155,610,343.09

162,058.42
872,304.93

0.00
0.00
0.00

154,575,979.74

1,139

0
0

1,134

64,837.64

Extra Principal

Trigger Event

0.00

1,034,363.35

Overcollateralization Amount

14,096,567.72

Less Extra Principal

Remittance Interest

0.00

897,017.35

0.00

872,304.93

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(466.83

897,484.18

Total Fees

65,530.93

Insurance Premium

Reimbursement Amount

Other

Total Reimbursement Amount

Rolling 3-Month Delinquency

0.00
0.00

Class II-A Policy - Interest
Class II-A Policy - Principal

0.09%

Total LPMI Fee

226.46

466.83

N/A

Page 6 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Cash Reconciliation Summary

Statement Date:

228 ARM Loans

Interest Summary

Total Trustee Fees

Available Interest

1,899,290.49

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

219,662.37

6,654.48

2,053,942.27

0.00
0.00
0.00

4,180,488.05

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

312,812,944.86

219,662.37

2,060,596.75

0.00
0.00
0.00

310,532,685.74

1,912

0
0

1,899

130,338.73

Extra Principal

Trigger Event

0.00

2,280,259.12

Overcollateralization Amount

14,096,567.72

Less Extra Principal

Remittance Interest

0.00

1,899,290.49

0.00

2,060,596.75

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(938.44

1,900,228.93

Total Fees

132,106.99

Insurance Premium

Reimbursement Amount

Other

Total Reimbursement Amount

Rolling 3-Month Delinquency

0.00
0.00

Class II-A Policy - Interest
Class II-A Policy - Principal

0.09%

Total LPMI Fee

829.82

938.44

N/A

Page 7 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Cash Reconciliation Summary

Statement Date:

327 ARM Loans

Interest Summary

Total Trustee Fees

Available Interest

145,834.41

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

21,203.77

879.53

271,253.74

0.00
0.00
0.00

439,250.01

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution

Unscheduled Principal
Distribution

Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

26,186,279.77

21,203.77

272,133.27

0.00
0.00
0.00

25,892,942.73

147

0
0

144

10,910.95

Extra Principal

Trigger Event

0.00

293,337.04

Overcollateralization Amount

14,096,567.72

Less Extra Principal

Remittance Interest

0.00

145,834.41

0.00

272,133.27

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(78.56

145,912.97

Total Fees

11,611.45

Insurance Premium

Reimbursement Amount

Other

Total Reimbursement Amount

Rolling 3-Month Delinquency

0.00
0.00

Class II-A Policy - Interest
Class II-A Policy - Principal

0.09%

Total LPMI Fee

621.94

78.56

N/A

Page 8 of 20

Bear Stearns Asset Backed Securities Trust

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Bond Interest Reconciliation

Prior

Other

Additions

Interest

Losses

Current

Cumulative

Accrual

Risk Carry-

forward Amt

Interest

Payment

Amount

Interest

Certificate

Interest

Losses

Shortfall

Int. Carry-

Proceeds

Risk Carry-

Certificate

Agreement

Amt Deposited

From YM

Method Days

Basis

Remaining

Statement Date:

Distributable

Prior

Applied Realized

Remaining

Int. Carry-

forward Amt

Principal

Extra

Prepayments

Shortfalls

Net

Cap

Rate
Y/N

0.00

I-A-1

172,895.04

0.00

172,895.04

Act/360

0.00

1,978,088.18

0.00

I-A-2

186,787.13

0.00

186,787.13

Act/360

0.00

II-A

72,521.51

0.00

72,521.51

Act/360

0.00

1,226,946.77

0.00

M-1

42,567.15

0.00

42,567.15

Act/360

0.00

M-2

46,073.03

0.00

46,073.03

Act/360

0.00

M-3

16,230.00

0.00

16,230.00

Act/360

0.00

M-4

13,744.13

0.00

13,744.13

Act/360

0.00

M-5

16,137.00

0.00

16,137.00

Act/360

0.00

M-6

20,168.78

0.00

20,168.78

Act/360

0.00

2,355,018.49

0.00

2,355,018.49

30/360

0.00

6,950.82

0.00

2,942,142.26

2,949,093.08

0.00

3,205,034.95

0.00

(2) Principal Prepayments include the Extra Principal Amount

Page 9 of 20

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Interest Adjustments Summary

Statement Date:

0.00

Net Prepayment Interest Shortfalls Allocated to the Bonds

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

0.00

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

6,950.82

6,950.82

Total Excess Allocated to the Bonds

6,950.82

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

6,950.82

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Other Interest Loss

0.00

Page 10 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

R-1

07384YRF5

I-A-1

07384YQV1

Aaa

AAA

I-A-2

07384YQW9

Aaa

AAA

II-A

07384YQX7

Aaa

AAA

M-1

07384YQY5

Aa2

M-2

07384YQZ2

M-3

07384YRA6

A-

M-4

07384YRB4

Baa1

BBB+

M-5

07384YRC2

Baa2

BBB

M-6

07384YRD0

Baa3

BBB-

07384YRE8

07384YRF5

R-2

07384YRH1

R-X

07384YRJ7

Page 11 of 20

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be
understood that this transmission will generally have been provided to LaSalle within 30 days of the payment date listed on this statement. Because ratings may have
changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on
this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

6.39%

6.44%

0.09%

0.00%

25-Mar-04

203

31,626,180

433,251

2,971

458,942,177

93.52%

93.47%

Page 12 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

Fixed Loans

4.14%

4.81%

0.18%

0.09%

0.00%

25-Mar-04

7,434,719

131,492

1,085

147,009,769

95.68%

95.11%

Page 13 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

228 ARM Loans

7.69%

7.29%

0.00%

25-Mar-04

146

22,652,793

1,753

287,879,893

92.31%

92.71%

Page 14 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

Balance

Delinquency Aging Categories

327 ARM Loans

6.94%

5.94%

0.69%

1.17%

0.00%

25-Mar-04

1,538,668

301,759

133

24,052,516

92.36%

92.89%

Page 15 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

25-Mar-04

3,177

99.34%

491,001,608

99.27%

0.66%

0.65%

0.00%

348

7.65%

7.14%

3,190,794

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 16 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Fixed Loans

25-Mar-04

1,134

35.46%

154,575,980

31.25%

0.44%

0.56%

0.00%

330

7.42%

6.92%

865,598

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 17 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

228 ARM Loans

25-Mar-04

1,899

59.38%

310,532,686

62.78%

0.68%

0.66%

0.00%

357

7.79%

7.29%

2,053,942

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 18 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

327 ARM Loans

25-Mar-04

144

4.50%

25,892,943

5.24%

2.04%

1.04%

0.00%

356

7.22%

6.68%

271,254

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 19 of 20

Bear Stearns Asset Backed Securities Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Mar-04
25-Mar-04

N/A

26-Apr-04

24-Mar-04

Asset-Backed Certificates

Series 2004-HE2

ABN AMRO Acct: 721710.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total
Cumulative

Page 20 of 20

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2004-HE2 8-K