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) ~~August~~September 2527, 2004

Bear Stearns Asset Backed Securities I LLC
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-113636
(Commission
File Number)

20-0842986
(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.)

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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities I Trust 2004-HE5 Asset-Backed Certificates, Series 2004-HE5, which was made on ~~August~~September 2527, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 5.05 of the Pooling and Servicing Agreement for the distribution on ~~August~~September 2527, 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 I LLC, REGISTRANT

By: /s/ Russell Goldenberg Russell Goldenberg Group Senior Vice President Date: ~~August~~September 30, 2004

Bear Stearns Asset Backed Securities Trust Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Reporting Package Table of Contents Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Administrator: Megan Olson 312.904.6709megan.olson@abnamro.com Analyst: Dinsmore Sohn 714.259.6258 dinsmore.sohn@abnamro.com Statement Date: 135 S. LaSalle Street, Suite 1625Chicago, IL 60603USA Statements to CertificateholdersCash Reconciliation SummaryBond Interest ReconciliationShortfall Summary Report Rating Information Asset-Backed Facts ~ 15 Month Loan Status Summary Part IAsset-Backed Facts ~ 15 Month Loan Status Summary Part II Asset-Backed Facts ~ 15 Month Loan Payoff/Loss SummaryRealized Loss Detail Page 2-5Page 6-11Page 12Page 13 Page 14 Page 15-20Page 21-26 Page 27-32Page 33 Page(s) Information is available for this issue from the following sources Issue Id: Monthly Data File Name: BS004HE5 BS004HE5_200408_3.ZIP Closing Date: First Payment Date: Rated Final Payment: Date: 30-Jun-0426-Jul-04 25-Jul-34 Parties to The Transaction Issuer: Bear Stearns Asset Backed Securities, Inc. Depositor: Bear Stearns Asset Backed Securities, Inc. Underwriter: Bear Stearns & Co. Inc. Master Servicer: EMC Mortgage Corporation Rating Agency: Standard & Poor's 800.246.5761 LaSalle Factor Line LaSalle Web Site Servicer Web Site www.emcmortgagecorp.com www.etrustee.net Page 1 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.063772% 1.450000%1.615000% 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities Trust Asset-Backed Certificates Series 2004-HE5 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 REMIC II Statement Date: ABN AMRO Acct: 721913.3 988.125249064 39.912749517 0.000000000 948.212499547 1.350437862 1.805000000% 0.00 0.00 0.000000000 1.64000000% 0.000000000 073879BY3 I-A-1 126,935,000.00 125,427,678.49 5,066,324.86 0.00 120,361,353.63 171,417.83 1000.000000000 0.000000000 0.000000000 1000.000000000 1.625000241 2.115000000% 0.00 0.00 0.000000000 1.95000000% 0.000000000 073879BZ0 I-A-2 20,777,000.00 20,777,000.00 0.00 0.00 20,777,000.00 33,762.63 973.513170311 33.893327217 0.000000000 939.619843094 1.383199971 1.870000000% 0.00 0.00 0.000000000 1.70500000% 0.000000000 073879CA4 II-A 166,214,000.00 161,811,518.09 5,633,545.49 0.00 156,177,972.60 229,907.20 988.020132662 22.195795923 0.000000000 965.824336738 1.420278948 1.890000000% 0.00 0.00 0.000000000 1.72500000% 0.000000000 073879CB2 III-A 532,859,000.00 526,475,419.87 11,827,229.62 0.00 514,648,190.25 756,808.42 1000.000000000 0.000000000 0.000000000 1000.000000000 1.683333386 2.185000000% 0.00 0.00 0.000000000 2.02000000% 0.000000000 073879CC0 M-1 62,744,000.00 62,744,000.00 0.00 0.00 62,744,000.00 105,619.07 1000.000000000 0.000000000 0.000000000 1000.000000000 2.250000000 2.865000000% 0.00 0.00 0.000000000 2.70000000% 0.000000000 073879CD8 M-2 50,617,000.00 50,617,000.00 0.00 0.00 50,617,000.00 113,888.25 1000.000000000 0.000000000 0.000000000 1000.000000000 2.500000000 3.165000000% 0.00 0.00 0.000000000 3.00000000% 0.000000000 073879CE6 M-3 14,236,000.00 14,236,000.00 0.00 0.00 14,236,000.00 35,590.00 1000.000000000 0.000000000 0.000000000 1000.000000000 2.833333058 3.565000000% 0.00 0.00 0.000000000 3.40000000% 0.000000000 073879CF3 M-4 12,127,000.00 12,127,000.00 0.00 0.00 12,127,000.00 34,359.83 1000.000000000 0.000000000 0.000000000 1000.000000000 3.000000000 3.765000000% 0.00 0.00 0.000000000 3.60000000% 0.000000000 073879CG1 M-5 10,545,000.00 10,545,000.00 0.00 0.00 10,545,000.00 31,635.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.333333333 5.365000000% 0.00 0.00 0.000000000 5.20000000% 0.000000000 073879CH9 M-6 10,545,000.00 10,545,000.00 0.00 0.00 10,545,000.00 45,695.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.541666847 5.615000000% 0.00 0.00 0.000000000 5.45000000% 0.000000000 073879CJ5 M-7 18,454,000.00 18,454,000.00 0.00 0.00 18,454,000.00 83,811.92 1000.000000000 0.000000000 0.000000000 1000.000000000 142.479247225 0.00 0.00 0.000000000 N/A 0.000000000 073879CL0 CE 28,473,224.41 28,473,224.41 0.00 0.00 28,473,224.41 4,056,843.58 1000.000000000 0.000000000 0.000000000 1000.000000000 3932695.800000000 0.00 393,269.58 3932695.800000000 N/A 0.000000000 N 073879CK2 P 100.00 100.00 0.00 0.00 100.00 393,269.58 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879CM8 R-1 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879CN6 R-2 0.00 0.00 0.00 0.00 0.00 0.00 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 2 of 33 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 Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.063772% 1.450000%1.615000% 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities Trust Asset-Backed Certificates Series 2004-HE5 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 REMIC II Statement Date: ABN AMRO Acct: 721913.3 Total P&I Payment 0.00 393,269.58 1,054,526,224.41 1,042,232,840.86 28,619,708.28 Total 1,019,705,740.89 22,527,099.97 0.00 6,092,608.31 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 3 of 33 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 Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.063772% 1.450000%1.615000% 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities Trust Asset-Backed Certificates Series 2004-HE5 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 REMIC III Statement Date: ABN AMRO Acct: 721913.3 1000.000000000 0.000000000 0.000000000 1000.000000000 142.479247225 0.00 4,056,843.58 142.479247225 N/A 0.000000000 073879CL0 CE 28,473,224.41 28,473,224.41 0.00 0.00 28,473,224.41 4,056,843.58 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABSR197 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 4,056,843.58 28,473,224.41 28,473,224.41 4,056,843.58 Total 28,473,224.41 0.00 0.00 4,056,843.58 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 4 of 33 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 Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.063772% 1.450000%1.615000% 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities Trust Asset-Backed Certificates Series 2004-HE5 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 REMIC IV Statement Date: ABN AMRO Acct: 721913.3 1000.000000000 0.000000000 0.000000000 1000.000000000 3932695.800000000 0.00 393,269.58 3932695.800000000 N/A 0.000000000 073879CK2 P 100.00 100.00 0.00 0.00 100.00 393,269.58 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879CP1 R-X 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 393,269.58 100.00 100.00 393,269.58 Total 100.00 0.00 0.00 393,269.58 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 5 of 33 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 Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary Interest Summary Total Trustee Fees Available Interest 6,092,608.29 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 876,372.12 57,768.26 21,592,959.59 0.000.000.00 28,621,184.76 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 1,042,232,840.86 876,372.12 21,650,727.85 0.000.000.00 1,019,705,740.89 6,125 102 00 6,023 423,126.77 Extra Principal Trigger Event No 0.00 22,527,099.97 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 6,092,608.29 0.00 21,650,727.85 Less Mod Losses Interest Due Trust Total Trustee Fees ) (1,476.50 6,094,084.79 Total Fees 424,603.27 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 1,476.50 LPMI Fees 0.00 0.000.000.00 0.00 Page 6 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary First Lien Interest Summary Total Trustee Fees Available Interest 5,681,380.19 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 875,461.96 57,239.80 21,592,959.59 0.000.000.00 28,208,515.12 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 1,040,172,389.71 875,461.96 21,650,199.39 0.000.000.00 1,017,646,728.36 6,079 102 00 5,977 422,268.25 Extra Principal Trigger Event No 0.00 22,525,661.35 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 5,681,380.19 0.00 21,650,199.39 Less Mod Losses Interest Due Trust Total Trustee Fees ) (1,473.58 5,682,853.77 Total Fees 423,741.83 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 1,473.58 LPMI Fees 0.00 0.000.000.00 0.00 Page 7 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary Second Lien Interest Summary Total Trustee Fees Available Interest 17,958.52 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 910.16 528.46 0.000.000.000.00 19,400.05 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 2,060,451.15 910.16528.46 0.000.000.00 2,059,012.53 46 0 00 46 858.52 Extra Principal Trigger Event No 0.00 1,438.62 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 17,958.52 0.00 528.46 Less Mod Losses Interest Due Trust Total Trustee Fees ) (2.92 17,961.43 Total Fees 861.44 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 2.92 LPMI Fees 0.00 0.000.000.00 0.00 Page 8 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary 228 ARM Loans Interest Summary Total Trustee Fees Available Interest 4,026,372.88 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 553,487.52 28,926.21 19,037,755.11 0.000.000.00 23,647,568.46 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 724,758,296.06 553,487.52 19,066,681.32 0.000.000.00 705,138,127.22 4,128 88 00 4,040 292,283.17 Extra Principal Trigger Event No 0.00 19,620,168.84 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 4,026,372.88 0.00 19,066,681.32 Less Mod Losses Interest Due Trust Total Trustee Fees ) (1,026.74 4,027,399.62 Total Fees 293,309.91 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 1,026.74 LPMI Fees 0.00 0.000.000.00 0.00 Page 9 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary 327 ARM Loans Interest Summary Total Trustee Fees Available Interest 251,993.46 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 38,276.45 6,581.97 563,722.02 0.000.000.00 860,643.59 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 49,195,103.58 38,276.45 570,303.99 0.000.000.00 48,586,523.14 296 3 00 293 20,399.16 Extra Principal Trigger Event No 0.00 608,580.44 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 251,993.46 0.00 570,303.99 Less Mod Losses Interest Due Trust Total Trustee Fees ) (69.69 252,063.15 Total Fees 20,468.85 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 69.69 LPMI Fees 0.00 0.000.000.00 0.00 Page 10 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Statement Date: Cash Reconciliation Summary Fixed Loans Interest Summary Total Trustee Fees Available Interest 1,420,972.37 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 284,608.15 22,260.08 1,991,482.46 0.000.000.00 3,719,703.12 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 268,279,441.22 284,608.15 2,013,742.54 0.000.000.00 265,981,090.53 1,701 11 00 1,690 110,444.44 Extra Principal Trigger Event No 0.00 2,298,350.69 Over Collateralization Amt 28,473,224.41 Less Extra Principal Remittance Interest 0.00 1,420,972.37 0.00 2,013,742.54 Less Mod Losses Interest Due Trust Total Trustee Fees ) (380.06 1,421,352.43 Total Fees 110,824.50 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.05 0 0.00 380.06 LPMI Fees 0.00 0.000.000.00 0.00 Page 11 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Class Accrued Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Bond Interest Reconciliation Prior Other Additions Interest Losses Current Cumulative Accrual Risk Carry- Fwd Amt Interest 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 RemainingInt. Carry- forward Amt Principal PrincipalPrincipal Extra Prepayments Shortfalls NetCap RateY/N 0.00 0.00 I-A-1 30 171,417.83 0.00 171,417.83 171,417.83 Act/360 0.00 0.00 0.00 4,919,632.05 N 0.00 0.00 0.00 0.00 0.00 0.00 I-A-2 30 33,762.63 0.00 33,762.63 33,762.63 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 II-A 30 229,907.20 0.00 229,907.20 229,907.20 Act/360 0.00 0.00 0.00 5,453,775.40 N 0.00 0.00 0.00 0.00 0.00 0.00 III-A 30 756,808.42 0.00 756,808.42 756,808.42 Act/360 0.00 0.00 0.00 11,277,320.40 N 0.00 0.00 0.00 0.00 0.00 0.00 M-1 30 105,619.07 0.00 105,619.07 105,619.07 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-2 30 113,888.25 0.00 113,888.25 113,888.25 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-3 30 35,590.00 0.00 35,590.00 35,590.00 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-4 30 34,359.83 0.00 34,359.83 34,359.83 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-5 30 31,635.00 0.00 31,635.00 31,635.00 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-6 30 45,695.00 0.00 45,695.00 45,695.00 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-7 30 83,811.92 0.00 83,811.92 83,811.92 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 CE 30 4,056,843.58 0.00 4,056,843.58 4,056,843.58 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 P 30 0.00 0.00 393,269.58 393,269.58 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,699,338.73 6,092,608.31 6,092,608.31 0.00 0.00 0.00 21,650,727.85 0.00 0.00 0.00 0.00 (2) Principal Prepayments include the Extra Principal Amount 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 12 of 33 (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-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Interest Adjustments Summary Statement Date 0.00 0.00 0.00 0.00 Special Servicing Fees Workout Fees Liquidation Fees Legal Fees 0.00 0.00 Misc. Fees & Expenses Paid by/to Servicer Interest Paid to Servicer on Outstanding Advances 0.00 0.00 ASER Interest Advance Reduction Interest Not Advanced (Current Period) Recoup of Prior Advances by Servicer 0.00 0.00 Servicing Fees Paid Servicer on Loans Not Advanced Misc. Fees & Expenses Paid by Trust 0.00 0.00 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 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 393,269.58 393,269.58 Total Excess Allocated to the Bonds 393,269.58 0.00 Aggregate Interest Adjustment Allocated to the Bonds 0.00 393,269.58 0.00 0.00 Prepayment Interest Excess Due the Bonds 0.00 ARD Excess Interest 0.00 Other Interest Loss 0.00 0.00 Net Prepayment Int. Shortfalls Allocated to the Bonds Page 13 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 073879CM8 R-2 073879CN6 CE 073879CL0 NR NR NR R-3 9ABSR197 NR NR NR R-X 073879CP1 NR NR NR I-A-1 073879BY3 NR Aaa AAA I-A-2 073879BZ0 NR Aaa AAA II-A 073879CA4 NR Aaa AAA III-A 073879CB2 NR Aaa AAA M-1 073879CC0 NR Aa2 AA+ M-2 073879CD8 NR A2 AA- M-3 073879CE6 NR A3 A M-4 073879CF3 NR Baa1 A- M-5 073879CG1 NR Baa2 BBB+ M-6 073879CH9 NR Baa3 BBB M-7 073879CJ5 NR Ba2 BBB- R-2 073879CN6 NR NR NR Page 14 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. 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 onthis 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-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories 1.26% 1.20% 0.05% 0.06% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 76 12,256,834 3 594,731 0 0 0 0 5,944 1,006,854,175 98.69% 98.74% 0.18% 0.24% 0.02% 0.01% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 11 2,497,044 1 126,396 0 0 0 0 6,113 1,039,609,400 99.80% 99.75% Page 15 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories First Lien 1.25% 1.20% 0.05% 0.06% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 75 12,197,967 3 594,731 0 0 0 0 5,899 1,004,854,030 98.69% 98.74% 0.18% 0.24% 0.02% 0.01% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 11 2,497,044 1 126,396 0 0 0 0 6,067 1,037,548,949 99.80% 99.75% Page 16 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories Second Lien 2.17% 2.86% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 1 58,867 0 0 0 0 0 0 45 2,000,146 97.83% 97.14% 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 0 0 0 0 0 0 0 0 46 2,060,451 100.00% 100.00% Page 17 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories 228 ARM Loans 1.56% 1.51% 0.07% 0.08% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 63 10,629,453 3 594,731 0 0 0 0 3,974 693,913,943 98.37% 98.41% 0.24% 0.31% 0.02% 0.02% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 10 2,257,499 1 126,396 0 0 0 0 4,117 722,374,401 99.73% 99.67% Page 18 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories 327 ARM Loans 0.68% 0.81% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 2 395,580 0 0 0 0 0 0 291 48,190,943 99.32% 99.19% 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 0 0 0 0 0 0 0 0 296 49,195,104 100.00% 100.00% Page 19 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Balance # Balance # Balance Delinquency Aging Categories Fixed Loans 0.65% 0.46% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 11 1,231,801 0 0 0 0 0 0 1,679 264,749,289 99.35% 99.54% 0.06% 0.09% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 26-Jul-04 1 239,545 0 0 0 0 0 0 1,700 268,039,896 99.94% 99.91% Page 20 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01% 0 0 1 109,277 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01% 0 0 1 109,358 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 21 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01% 0 0 1 109,277 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.01% 0 0 1 109,358 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 22 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Second Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 23 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - 228 ARM Loans Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0 0 1 109,277 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0 0 1 109,358 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 24 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - 327 ARM Loans Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 25 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Fixed Loans Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 26-Jul-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 26 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds 25-Aug-04 6,023 97.48% 1,019,705,741 96.70% 1.67% 2.07% 0 0.00% 0 0.00% 351 7.06% 6.56% 102 21,592,960 0.00 0.00 0.00 0.00 26-Jul-04 6,125 99.13% 1,042,232,841 98.83% 0.87% 1.08% 0 0.00% 0 0.00% 352 7.07% 6.56% 54 11,352,617 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 27 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds First Lien 25-Aug-04 5,977 96.73% 1,017,646,728 96.50% 1.68% 2.08% 0 0.00% 0 0.00% 351 7.06% 6.55% 102 21,592,960 0.00 0.00 0.00 0.00 26-Jul-04 6,079 98.38% 1,040,172,390 98.64% 0.88% 1.08% 0 0.00% 0 0.00% 352 7.06% 6.56% 54 11,352,617 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 28 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Second Lien 25-Aug-04 46 0.74% 2,059,013 0.20% 0.00% 0.00% 0 0.00% 0 0.00% 183 10.96% 10.46% 0 0 0.00 0.00 0.00 0.00 26-Jul-04 46 0.74% 2,060,451 0.20% 0.00% 0.00% 0 0.00% 0 0.00% 184 10.96% 10.46% 0 0 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 29 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds 228 ARM Loans 25-Aug-04 4,040 65.38% 705,138,127 66.87% 2.13% 2.63% 0 0.00% 0 0.00% 356 7.17% 6.67% 88 19,037,755 0.00 0.00 0.00 0.00 26-Jul-04 4,128 66.81% 724,758,296 68.73% 0.94% 1.12% 0 0.00% 0 0.00% 357 7.17% 6.67% 39 8,226,347 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 30 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds 327 ARM Loans 25-Aug-04 293 4.74% 48,586,523 4.61% 1.01% 1.15% 0 0.00% 0 0.00% 356 6.65% 6.15% 3 563,722 0.00 0.00 0.00 0.00 26-Jul-04 296 4.79% 49,195,104 4.67% 0.67% 1.51% 0 0.00% 0 0.00% 357 6.64% 6.14% 2 756,840 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 31 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 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 # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Fixed Loans 25-Aug-04 1,690 27.35% 265,981,091 25.22% 0.65% 0.74% 0 0.00% 0 0.00% 338 6.86% 6.36% 11 1,991,482 0.00 0.00 0.00 0.00 26-Jul-04 1,701 27.53% 268,279,441 25.44% 0.76% 0.87% 0 0.00% 0 0.00% 339 6.86% 6.35% 13 2,369,430 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 32 of 33 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities Trust Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 26-Jul-04 27-Sep-04 24-Aug-04 Asset-Backed Certificates Series 2004-HE5 ABN AMRO Acct: 721913.3 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value BeginningScheduled 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: Not Avail. Not Avail. Current TotalCumulative 25-Aug-2004 - 06:32 (R181-R197) (c) 2004 LaSalle Bank N.A. Page 33 of 33 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Reporting Package Table of Contents

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Administrator:

Megan Olson 312.904.6709
megan.olson@abnamro.com

Analyst:

Dinsmore Sohn 714.259.6258
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 Loan Status Summary Part I
Asset-Backed Facts ~ 15 Month Loan Status Summary Part II

Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Realized Loss Detail

Page 2-5
Page 6-11
Page 12
Page 13

Page 14

Page 15-20
Page 21-26

Page 27-32
Page 33

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

BS004HE5

BS004HE5_200409_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

30-Jun-04
26-Jul-04

25-Jul-34

Parties to The Transaction

Issuer: Bear Stearns Asset Backed Securities, Inc.

Depositor: Bear Stearns Asset Backed Securities, Inc.

Underwriter: Bear Stearns & Co. Inc.

Master Servicer: EMC Mortgage Corporation

Rating Agency: Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 33

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:

7.056271%

1.615000%
1.840000%

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE5

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

REMIC II

Statement Date:

ABN AMRO Acct: 721913.3

948.212499547

57.787760035

0.000000000

890.424739512

1.568896601

2.030000000%

0.00

0.000000000

1.80500000%

0.000000000

073879BY3

I-A-1

126,935,000.00

120,361,353.63

7,335,289.32

0.00

113,026,064.31

199,147.89

1000.000000000

0.000000000

1000.000000000

1.938750060

2.340000000%

0.00

0.000000000

2.11500000%

0.000000000

073879BZ0

I-A-2

20,777,000.00

0.00

20,777,000.00

40,281.41

939.619843094

51.563715692

0.000000000

888.056127402

1.610664986

2.095000000%

0.00

0.000000000

1.87000000%

0.000000000

073879CA4

II-A

166,214,000.00

156,177,972.60

8,570,611.44

0.00

147,607,361.16

267,715.07

965.824336738

27.089671076

0.000000000

938.734665662

1.673290664

2.115000000%

0.00

0.000000000

1.89000000%

0.000000000

073879CB2

III-A

532,859,000.00

514,648,190.25

14,434,975.04

0.00

500,213,215.21

891,627.99

1000.000000000

0.000000000

1000.000000000

2.002916614

2.410000000%

0.00

0.000000000

2.18500000%

0.000000000

073879CC0

M-1

62,744,000.00

0.00

62,744,000.00

125,671.00

1000.000000000

0.000000000

1000.000000000

2.626250074

3.090000000%

0.00

0.000000000

2.86500000%

0.000000000

073879CD8

M-2

50,617,000.00

0.00

50,617,000.00

132,932.90

1000.000000000

0.000000000

1000.000000000

2.901250351

3.390000000%

0.00

0.000000000

3.16500000%

0.000000000

073879CE6

M-3

14,236,000.00

0.00

14,236,000.00

41,302.20

1000.000000000

0.000000000

1000.000000000

3.267917045

3.790000000%

0.00

0.000000000

3.56500000%

0.000000000

073879CF3

M-4

12,127,000.00

0.00

12,127,000.00

39,630.03

1000.000000000

0.000000000

1000.000000000

3.451249881

3.990000000%

0.00

0.000000000

3.76500000%

0.000000000

073879CG1

M-5

10,545,000.00

0.00

10,545,000.00

36,393.43

1000.000000000

0.000000000

1000.000000000

4.917916548

5.590000000%

0.00

0.000000000

5.36500000%

0.000000000

073879CH9

M-6

10,545,000.00

0.00

10,545,000.00

51,859.43

1000.000000000

0.000000000

1000.000000000

5.147083559

5.840000000%

0.00

0.000000000

5.61500000%

0.000000000

073879CJ5

M-7

18,454,000.00

0.00

18,454,000.00

94,984.28

1000.000000000

0.000000000

1000.000000000

128.127502086

0.00

)

(29.45

)

(0.001034305

N/A

0.000000000

073879CL0

28,473,224.41

0.00

28,473,224.41

3,648,203.12

1000.000000000

0.000000000

1000.000000000

5788644.200000000

0.00

578,864.42

5788644.200000000

N/A

0.000000000

073879CK2

100.00

0.00

100.00

578,864.42

0.000000000

0.00

0.000000000

N/A

0.000000000

073879CM8

R-1

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879CN6

R-2

0.00

Page 2 of 33

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:

7.056271%

1.615000%
1.840000%

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE5

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

REMIC II

Statement Date:

ABN AMRO Acct: 721913.3

Total P&I Payment

0.00

578,834.97

1,054,526,224.41

1,019,705,740.89

36,489,488.97

Total

989,364,865.09

30,340,875.80

0.00

6,148,613.17

Page 3 of 33

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:

7.056271%

1.615000%
1.840000%

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE5

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

REMIC III

Statement Date:

ABN AMRO Acct: 721913.3

1000.000000000

0.000000000

1000.000000000

128.127502086

0.00

3,648,203.12

128.127502086

N/A

0.000000000

073879CL0

28,473,224.41

0.00

28,473,224.41

3,648,203.12

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSR197

R-3

0.00

Total P&I Payment

0.00

3,648,203.12

28,473,224.41

3,648,203.12

Total

28,473,224.41

0.00

3,648,203.12

Page 4 of 33

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:

7.056271%

1.615000%
1.840000%

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities Trust

Asset-Backed Certificates

Series 2004-HE5

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

REMIC IV

Statement Date:

ABN AMRO Acct: 721913.3

1000.000000000

0.000000000

1000.000000000

5788644.200000000

0.00

578,864.42

5788644.200000000

N/A

0.000000000

073879CK2

100.00

0.00

100.00

578,864.42

0.000000000

0.00

0.000000000

N/A

0.000000000

073879CP1

R-X

0.00

Total P&I Payment

0.00

578,864.42

100.00

578,864.42

Total

100.00

0.00

578,864.42

Page 5 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary

Interest Summary

Total Trustee Fees

Available Interest

6,148,613.16

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

855,937.91

41,353.73

29,443,584.16

0.00
0.00
0.00

36,490,933.55

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

1,019,705,740.89

855,937.91

29,484,937.89

0.00
0.00
0.00

989,364,865.09

6,023

135

0
0

5,888

423,737.49

Extra Principal

Trigger Event

0.00

30,340,875.80

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

6,148,613.16

0.00

29,484,937.89

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,444.58

6,150,057.75

Total Fees

425,182.07

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

1,444.58

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 6 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary First Lien

Interest Summary

Total Trustee Fees

Available Interest

5,551,831.58

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

855,015.21

40,644.01

29,443,584.16

0.00
0.00
0.00

35,892,516.62

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

1,017,646,728.36

855,015.21

29,484,228.17

0.00
0.00
0.00

987,307,484.98

5,977

135

0
0

5,842

422,879.57

Extra Principal

Trigger Event

0.00

30,339,243.38

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

5,551,831.58

0.00

29,484,228.17

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,441.67

5,553,273.24

Total Fees

424,321.24

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

1,441.67

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 7 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary Second Lien

Interest Summary

Total Trustee Fees

Available Interest

17,946.61

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

922.70

709.72

0.00
0.00
0.00
0.00

19,581.95

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

2,059,012.53

922.70
709.72

0.00
0.00
0.00

2,057,380.11

0
0

857.92

Extra Principal

Trigger Event

0.00

1,632.42

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

17,946.61

0.00

709.72

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(2.92

17,949.53

Total Fees

860.84

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

2.92

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 8 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary 228 ARM Loans

Interest Summary

Total Trustee Fees

Available Interest

3,913,131.88

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

538,082.32

19,096.48

23,433,098.76

0.00
0.00
0.00

27,904,408.38

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

705,138,127.22

538,082.32

23,452,195.24

0.00
0.00
0.00

681,147,849.66

4,040

104

0
0

3,936

292,993.83

Extra Principal

Trigger Event

0.00

23,990,277.56

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

3,913,131.88

0.00

23,452,195.24

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(998.95

3,914,130.82

Total Fees

293,992.77

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

998.95

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 9 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary 327 ARM Loans

Interest Summary

Total Trustee Fees

Available Interest

248,943.54

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

37,176.14

2,558.65

1,287,386.05

0.00
0.00
0.00

1,576,133.21

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

48,586,523.14

37,176.14

1,289,944.70

0.00
0.00
0.00

47,259,402.30

293

0
0

286

20,244.38

Extra Principal

Trigger Event

0.00

1,327,120.84

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

248,943.54

0.00

1,289,944.70

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(68.83

249,012.37

Total Fees

20,313.22

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

68.83

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 10 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Statement Date:

Cash Reconciliation Summary Fixed Loans

Interest Summary

Total Trustee Fees

Available Interest

1,407,702.77

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

280,679.45

19,698.60

4,723,099.35

0.00
0.00
0.00

6,431,556.98

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

265,981,090.53

280,679.45

4,742,797.95

0.00
0.00
0.00

260,957,613.13

1,690

0
0

1,666

110,499.28

Extra Principal

Trigger Event

0.00

5,023,477.40

Over Collateralization Amt

28,473,224.41

Less Extra Principal

Remittance Interest

0.00

1,407,702.77

0.00

4,742,797.95

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(376.81

1,408,079.58

Total Fees

110,876.09

Insurance Premium

Reimbursement Amt

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

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.22

0.00

376.81

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 11 of 33

Bear Stearns Asset Backed Securities Trust

Class

Accrued

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04
24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Bond Interest Reconciliation

Prior

Other

Additions

Interest

Losses

Current

Cumulative

Accrual

Risk Carry-

Fwd 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

Principal
Principal

Extra

Prepayments

Shortfalls

Net
Cap

Rate
Y/N

0.00

I-A-1

199,147.89

0.00

199,147.89

Act/360

0.00

7,193,386.60

0.00

I-A-2

40,281.41

0.00

40,281.41

Act/360

0.00

II-A

267,715.07

0.00

267,715.07

Act/360

0.00

8,396,770.09

0.00

III-A

891,627.99

0.00

891,627.99

Act/360

0.00

13,894,781.20

0.00

M-1

125,671.00

0.00

125,671.00

Act/360

0.00

M-2

132,932.90

0.00

132,932.90

Act/360

0.00

M-3

41,302.20

0.00

41,302.20

Act/360

0.00

M-4

39,630.03

0.00

39,630.03

Act/360

0.00

M-5

36,393.43

0.00

36,393.43

Act/360

0.00

M-6

51,859.43

0.00

51,859.43

Act/360

0.00

M-7

94,984.28

0.00

94,984.28

Act/360

0.00

3,648,232.57

0.00

3,648,232.57

3,648,203.12

0.00

578,864.42

0.00

5,569,778.20

6,148,642.62

6,148,613.17

0.00

29,484,937.89

0.00

(2) Principal Prepayments include the Extra Principal Amount

Page 12 of 33

(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:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04
24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Interest Adjustments Summary

Statement Date

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

29.45

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

29.45

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

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

578,864.42

578,864.42

Total Excess Allocated to the Bonds

578,834.97

)

(29.45

Aggregate Interest Adjustment Allocated to the Bonds

0.00

578,864.42

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Page 13 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

073879CM8

R-2

073879CN6

073879CL0

R-3

9ABSR197

073879CK2

R-X

073879CP1

I-A-1

073879BY3

Aaa

AAA

I-A-2

073879BZ0

Aaa

AAA

II-A

073879CA4

Aaa

AAA

III-A

073879CB2

Aaa

AAA

M-1

073879CC0

Aa2

AA+

M-2

073879CD8

AA-

M-3

073879CE6

M-4

073879CF3

Baa1

A-

M-5

073879CG1

Baa2

BBB+

M-6

073879CH9

Baa3

BBB

M-7

073879CJ5

Ba2

BBB-

R-2

073879CN6

Page 14 of 33

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:

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

1.43%

1.49%

0.49%

0.40%

0.00%

0.02%

0.01%

0.00%

27-Sep-04

14,692,723

3,973,918

51,863

5,774

970,646,361

98.06%

98.11%

1.26%

1.20%

0.05%

0.06%

0.00%

25-Aug-04

12,256,834

594,731

5,944

1,006,854,175

98.69%

98.74%

0.18%

0.24%

0.02%

0.01%

0.00%

26-Jul-04

2,497,044

126,396

6,113

1,039,609,400

99.80%

99.75%

Page 15 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

First Lien

1.42%

1.48%

0.50%

0.40%

0.00%

0.02%

0.01%

0.00%

27-Sep-04

14,634,458

3,973,918

51,863

5,729

968,647,246

98.07%

98.11%

1.25%

1.20%

0.05%

0.06%

0.00%

25-Aug-04

12,197,967

594,731

5,899

1,004,854,030

98.69%

98.74%

0.18%

0.24%

0.02%

0.01%

0.00%

26-Jul-04

2,497,044

126,396

6,067

1,037,548,949

99.80%

99.75%

Page 16 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

Second Lien

2.17%

2.83%

0.00%

27-Sep-04

58,265

1,999,115

97.83%

97.17%

2.17%

2.86%

0.00%

25-Aug-04

58,867

2,000,146

97.83%

97.14%

0.00%

26-Jul-04

2,060,451

100.00%

Page 17 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

1.70%

1.87%

0.61%

0.47%

0.00%

0.03%

0.01%

0.00%

27-Sep-04

12,714,661

3,175,564

51,863

3,844

665,205,762

97.66%

1.56%

1.51%

0.07%

0.08%

0.00%

25-Aug-04

10,629,453

594,731

3,974

693,913,943

98.37%

98.41%

0.24%

0.31%

0.02%

0.00%

26-Jul-04

2,257,499

126,396

4,117

722,374,401

99.73%

99.67%

Page 18 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

2.10%

1.55%

0.00%

27-Sep-04

734,609

280

46,524,793

97.90%

98.45%

0.68%

0.81%

0.00%

25-Aug-04

395,580

291

48,190,943

99.32%

99.19%

0.00%

26-Jul-04

296

49,195,104

100.00%

Page 19 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

0.66%

0.48%

0.30%

0.31%

0.00%

27-Sep-04

1,243,453

798,354

1,650

258,915,806

99.04%

99.22%

0.65%

0.46%

0.00%

25-Aug-04

1,231,801

1,679

264,749,289

99.35%

99.54%

0.06%

0.09%

0.00%

26-Jul-04

239,545

1,700

268,039,896

99.94%

99.91%

Page 20 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

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

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

93,173

51,863

0.00%

0.02%

0.01%

0.00%

0.00% 0.02%

0.01% 0.00%

0.00%

0.10%

968,314

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

0.02%

0.01%

109,277

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

0.02%

0.01%

109,358

0.00%

Page 21 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

93,173

51,863

0.00%

0.02%

0.01%

0.00%

0.00% 0.02%

0.01% 0.00%

0.00%

0.10%

968,314

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

0.02%

0.01%

109,277

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

0.02%

0.01%

109,358

0.00%

Page 22 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Second Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

Page 23 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - 228 ARM Loans

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

51,863

0.00%

0.03%

0.01%

0.00%

0.00% 0.00%

0.00%

0.15%

0.14%

968,314

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

0.02%

109,277

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

0.02%

109,358

0.00%

Page 24 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - 327 ARM Loans

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

Page 25 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Fixed Loans

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

93,173

0.00%

0.00% 0.06%

0.04% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

26-Jul-04

0.00%

0.00% 0.00%

0.00%

Page 26 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

27-Sep-04

5,888

95.29%

989,364,865

93.82%

2.24%

2.89%

0.00%

350

7.06%

6.55%

135

29,443,584

0.00

25-Aug-04

6,023

97.48%

1,019,705,741

96.70%

1.67%

2.07%

0.00%

351

7.06%

6.56%

102

21,592,960

0.00

26-Jul-04

6,125

99.13%

1,042,232,841

98.83%

0.87%

1.08%

0.00%

352

7.07%

6.56%

11,352,617

0.00

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

Page 27 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

First Lien

27-Sep-04

5,842

94.55%

987,307,485

93.63%

2.26%

2.89%

0.00%

350

7.05%

6.55%

135

29,443,584

0.00

25-Aug-04

5,977

96.73%

1,017,646,728

96.50%

1.68%

2.08%

0.00%

351

7.06%

6.55%

102

21,592,960

0.00

26-Jul-04

6,079

98.38%

1,040,172,390

98.64%

0.88%

1.08%

0.00%

352

7.06%

6.56%

11,352,617

0.00

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

Page 28 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

Second Lien

27-Sep-04

0.74%

2,057,380

0.20%

0.00%

182

10.96%

10.46%

0.00

25-Aug-04

0.74%

2,059,013

0.20%

0.00%

183

10.96%

10.46%

0.00

26-Jul-04

0.74%

2,060,451

0.20%

0.00%

184

10.96%

10.46%

0.00

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

Page 29 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

27-Sep-04

3,936

63.70%

681,147,850

64.59%

2.57%

3.32%

0.00%

355

7.16%

6.66%

104

23,433,099

0.00

25-Aug-04

4,040

65.38%

705,138,127

66.87%

2.13%

2.63%

0.00%

356

7.17%

6.67%

19,037,755

0.00

26-Jul-04

4,128

66.81%

724,758,296

68.73%

0.94%

1.12%

0.00%

357

7.17%

6.67%

8,226,347

0.00

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

Page 30 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

27-Sep-04

286

4.63%

47,259,402

4.48%

2.39%

2.65%

0.00%

355

6.65%

6.15%

1,287,386

0.00

25-Aug-04

293

4.74%

48,586,523

4.61%

1.01%

1.15%

0.00%

356

6.65%

6.15%

563,722

0.00

26-Jul-04

296

4.79%

49,195,104

4.67%

0.67%

1.51%

0.00%

357

6.64%

6.14%

756,840

0.00

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

Page 31 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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

27-Sep-04

1,666

26.96%

260,957,613

24.75%

1.42%

1.78%

0.00%

337

6.85%

6.35%

4,723,099

0.00

25-Aug-04

1,690

27.35%

265,981,091

25.22%

0.65%

0.74%

0.00%

338

6.86%

6.36%

1,991,482

0.00

26-Jul-04

1,701

27.53%

268,279,441

25.44%

0.76%

0.87%

0.00%

339

6.86%

6.35%

2,369,430

0.00

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

Page 32 of 33

Bear Stearns Asset Backed Securities Trust

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

27-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificates

Series 2004-HE5

ABN AMRO Acct: 721913.3

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:

Not Avail.

Current Total
Cumulative

Page 33 of 33

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

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