Content:

Pages

Contact Information:

4/25/2007 0:00

Statement to Certificate Holders

2-3

Analyst:

Jia Zhuang

714.259.6846

Statement to Certificate Holders (Factors)

4-5

jia.zhuang@abnamro.com

Pool/Non-Pool Funds Cash Reconciliation

3/26/2007 0:00

Administrator:

Emily Siguenza

312.992.2833

Cash Reconciliation Summary

7-8

emily.siguenza@abnamro.com

Pool Detail and Performance Indicators

9-11

LaSalle Website:

www.etrustee.net

Bond Interest Reconciliation Part I

5/25/2007 0:00

Bond Interest Reconciliation Part II

Bond Principal Reconciliation

Outside Parties To The Transaction

Rating Information

4/24/2007

End of Month Balance Reporting

15 Month Loan Status Summary Part I

17-19

15 Month Loan Status Summary Part II

20-22

15 Month Historical Payoff Summary

23-24

Prepayment Summary

Mortgage Loan Characteristics Part I

Mortgage Loan Characteristics Part II

27-29

2/28/2007

Geographic Concentration

Current Period Realized Loss Detail

Historical Realized Loss Summary

32-34

3/26/2007 0:00

Realized Loss Summary

Material Breaches Detail

Modified Loan Detail

Releases

2/25/2037 0:00

Substitution Detail History

Substitution Detail History Summary

4/13/2007 0:00

Delinq Method:

OTS

Determination

Date:

13-Apr-07

First Pay. Date:

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

26-Mar-07

Rated Final

Payment Date:

25-Feb-37

Underwriter: Bear Stearns & Co. Inc./Bear, Stearns & Co., Inc.

Closing Date:

28-Feb-07

Master Servicer: EMC Mortgage Corporation

Record Date:

24-Apr-07

Distribution

Count:

Depositor: Bear Stearns Asset Backed Securities I LLC/Bear, Stearns & Co., Inc.

Prior Payment:

26-Mar-07

Next Payment:

25-May-07

ABN AMRO Acct : 724531.1

Payment Date:

25-Apr-07

Distribution Date: 25-Apr-07

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

23-Apr-2007 08:17

I-A

07401RAA8

196,284,000.00

190,286,989.27

3,930,770.18

0.00

186,356,219.09

868,977.25

0.00

5.4800000000%

II-A

07401RAB6

21,671,000.00

21,439,759.62

283,341.35

0.00

21,156,418.27

97,729.57

0.00

5.4700000000%

M-1

07401RAC4

15,483,000.00

0.00

15,483,000.00

75,092.55

0.00

5.8200000000%

M-2

07401RAD2

13,994,000.00

0.00

13,994,000.00

68,453.98

0.00

5.8700000000%

M-3

07401RAE0

6,253,000.00

0.00

6,253,000.00

31,108.68

0.00

5.9700000000%

M-4

07401RAF7

5,360,000.00

0.00

5,360,000.00

27,782.67

0.00

6.2200000000%

M-5

07401RAG5

4,913,000.00

0.00

4,913,000.00

26,079.84

0.00

6.3700000000%

M-6

07401RAH3

4,615,000.00

0.00

4,615,000.00

25,074.83

0.00

6.5200000000%

B-1

07401RAJ9

4,317,000.00

0.00

4,317,000.00

29,931.20

0.00

8.3200000000%

B-2

07401RAK6

3,871,000.00

0.00

3,871,000.00

28,451.85

0.00

8.8200000000%

B-3

07401RAL4

3,871,000.00

0.00

3,871,000.00

28,451.85

0.00

8.8200000000%

07401RAT7

297,754,947.64 N

291,524,658.38

0.00

287,310,546.85

1,653,778.50

89,873.48

N/A

R-1

07401RAN0

0.00

N/A

R-2

07401RAP5

0.00

N/A

R-3

07401RAQ3

0.00

N/A

07401RAR1

0.00

N/A

Total

280,632,000.00

274,403,748.89

4,214,111.53

0.00

270,189,637.36

2,960,912.77

89,873.48

Total P&I Payment

7,175,024.30

Interest Payment

(2)

Interest

Adjustment

Pass-Through

Rate

(1)

N denotes notional balance not included in total

(2)

Accrued Interest plus/minus Interest Adjustment minus Deferred Interest equals Interest Payment

Principal Payment

Principal

Adjustment or

Loss

Deferred

Interest

Ending Certificate

Balance

Class

CUSIP

Original Face

Value

(1)

Beginning

Certificate

Balance

Distribution Date: 25-Apr-07

Bond Payments

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 2 of 40

23-Apr-2007 08:16

Distribution Date: 25-Apr-07

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

07401RAS9

0.00

N/A

Total

0.00

Total P&I Payment

0.00

(1)

N denotes notional balance not included in total

(2)

Accrued Interest plus/minus Interest Adjustment minus Deferred Interest equals Interest Payment

Class X

Class

CUSIP

Original Face

Value

(1)

Beginning

Certificate

Balance

Principal Payment

Principal

Adjustment or

Loss

Deferred

Interest

Ending Certificate

Balance

Interest Payment

(2)

Interest

Adjustment

Pass-Through

Rate

Page 3 of 40

23-Apr-2007 08:16

I-A

07401RAA8

196,284,000.00

969.447276747

20.025932730

0.000000000

949.421344017

4.427142559

0.000000000

5.48000000%

II-A

07401RAB6

21,671,000.00

989.329501258

13.074678141

0.000000000

976.254823117

4.509693600

0.000000000

5.47000000%

M-1

07401RAC4

15,483,000.00

1000.000000000

0.000000000

1000.000000000

4.850000000

0.000000000

5.82000000%

M-2

07401RAD2

13,994,000.00

1000.000000000

0.000000000

1000.000000000

4.891666428

0.000000000

5.87000000%

M-3

07401RAE0

6,253,000.00

1000.000000000

0.000000000

1000.000000000

4.975000800

0.000000000

5.97000000%

M-4

07401RAF7

5,360,000.00

1000.000000000

0.000000000

1000.000000000

5.183333955

0.000000000

6.22000000%

M-5

07401RAG5

4,913,000.00

1000.000000000

0.000000000

1000.000000000

5.308332994

0.000000000

6.37000000%

M-6

07401RAH3

4,615,000.00

1000.000000000

0.000000000

1000.000000000

5.433332611

0.000000000

6.52000000%

B-1

07401RAJ9

4,317,000.00

1000.000000000

0.000000000

1000.000000000

6.933333333

0.000000000

8.32000000%

B-2

07401RAK6

3,871,000.00

1000.000000000

0.000000000

1000.000000000

7.350000000

0.000000000

8.82000000%

B-3

07401RAL4

3,871,000.00

1000.000000000

0.000000000

1000.000000000

7.350000000

0.000000000

8.82000000%

07401RAT7

297,754,947.64 N

979.075782588

0.000000000

964.922830426

5.554159597

0.301837067

N/A

R-1

07401RAN0

0.00

0.000000000

N/A

R-2

07401RAP5

0.00

0.000000000

N/A

R-3

07401RAQ3

0.00

0.000000000

N/A

07401RAR1

0.00

0.000000000

N/A

Interest Adjustment*

Next Rate **

* Per $1,000 of Original Face Value ** Estimated

Bond Payments

Class

CUSIP

Original Face

Value

Beginning Certificate

Balance *

Principal Payment

Principal

Adjustment or

Loss

Deferred Interest *

Ending Certificate

Balance *

Interest Payment *

Distribution Date: 25-Apr-07

Statement to Certificate Holders (FACTORS)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 4 of 40

23-Apr-2007 08:16

Distribution Date: 25-Apr-07

Statement to Certificate Holders (FACTORS)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

07401RAS9

0.00

0.000000000

N/A

Interest Payment *

Interest Adjustment*

Next Rate **

* Per $1,000 of Original Face Value ** Estimated

Principal Payment

Principal

Adjustment or

Loss

Deferred Interest *

Ending Certificate

Balance *

Class

CUSIP

Original Face

Value

Beginning Certificate

Balance *

Class X

Page 5 of 40

23-Apr-2007 08:16

Interest Summary

Principal Summary

Reserve Fund

Interest Summary

Principal Summary

Beginning Balance

5,000.00

Scheduled Interest

2,998,217.15

Scheduled Prin Distribution

68,693.35

Withdrawal from Trust

0.00

Fees

127,177.86

Curtailments

120,400.47

Reimbursement from Waterfall

0.00

Remittance Interest

2,871,039.29

Prepayments in Full

4,025,017.71

Ending Balance

5,000.00

Other Interest Proceeds/Shortfalls

Liquidation Proceeds

0.00

Prepayment Penalties

39,932.35

Repurchase Proceeds

0.00

Swap Agreement

Other Interest Loss

0.00

Other Principal Proceeds

0.00

Other Interest Proceeds

0.00

Remittance Principal

4,214,111.53

Net Swap payment payable to the Swap

Non-advancing Interest

(10,609.13)

Administrator

60,550.27

Net PPIS/Relief Act Shortfall

0.00

Net Swap payment payable to the Swap Provider

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

29,323.22

Swap Termination payment payable to the Swap

Interest Adjusted

2,900,362.51

Administrator

0.00

Fee Summary

Swap Termination payment payable to the Swap

0.00

Total Servicing Fees

121,468.64

Provider

Total Trustee Fees

5,709.22

LPMI Fees

0.00

Credit Manager's Fees

0.00

Misc. Fees / Trust Expense

0.00

Insurance Premium

0.00

Total Fees

127,177.86

Advances (Principal & Interest)

Prior Month's Outstanding Advances

2,546,365.85

Current Advances

340,950.49

Reimbursement of Prior Advances

284,684.00

Outstanding Advances

2,602,632.08

P&I Due Certificate Holders

7,175,024.31

Pool Source of Funds

Non-Pool Source of Funds

P&I Advances as of the end of the Due Period do not reflect the amount of advances remitted by the Servicer on the Servicer Remittance Date due to additional proceeds received between the end of the Due Period and the Servicer Remittance Date and netted from the P&I Advances
stated as of the end of the Due Period.

Distribution Date: 25-Apr-07

Cash Reconciliation Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 6 of 40

23-Apr-2007 08:16

Group I

Total

Interest Summary

Scheduled Interest

2,713,648.21

Fees

114,362.99

Remittance Interest

2,599,285.22

Other Interest Proceeds/Shortfalls

Prepayment Penalties

39,932.35

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

(10,235.83)

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

29,696.52

Interest Adjusted

2,628,981.74

Principal Summary

Scheduled Principal Distribution

59,983.53

Curtailments

110,467.34

Prepayments in Full

3,760,319.31

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

3,930,770.18

Fee Summary

Total Servicing Fees

109,228.94

Total Trustee Fees

5,134.05

LPMI Fees

0.00

Misc. Fees

0.00

Total Fees

114,362.99

Beginning Principal Balance

262,149,591.69

Ending Principal Balance

258,218,821.51

Distribution Date: 25-Apr-07

Cash Reconciliation Summary Group I

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 7 of 40

23-Apr-2007 08:16

Distribution Date: 25-Apr-07

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Group II

Total

Interest Summary

Scheduled Interest

284,568.94

Fees

12,814.87

Remittance Interest

271,754.07

Other Interest Proceeds/Shortfalls

Prepayment Penalties

0.00

Other Interest Loss

0.00

Other Interest Proceeds

0.00

Non-advancing Interest

(373.30)

Net PPIS/Relief Act Shortfall

0.00

Modification Shortfall

0.00

Other Interest Proceeds/Shortfalls

(373.30)

Interest Adjusted

271,380.77

Principal Summary

Scheduled Principal Distribution

8,709.82

Curtailments

9,933.13

Prepayments in Full

264,698.40

Liquidation Proceeds

0.00

Repurchase Proceeds

0.00

Other Principal Proceeds

0.00

Less Mod Losses

0.00

Remittance Principal

283,341.35

Fee Summary

Total Servicing Fees

12,239.70

Total Trustee Fees

575.17

LPMI Fees

0.00

Misc. Fees

0.00

Total Fees

12,814.87

Beginning Principal Balance

29,375,066.69

Ending Principal Balance

29,091,725.34

Cash Reconciliation Summary Group II

Page 8 of 40

23-Apr-2007 08:16

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

297,754,947.65

4,195

3 mo. Rolling Average

466,584

294,639,803

0.16%

WAC - Remit Current 11.82%

N/A

11.82%

Cum Scheduled Principal

137,596.03

6 mo. Rolling Average

466,584

294,639,803

0.16%

WAC - Remit Original 11.82%

N/A

11.82%

Cum Unscheduled Principal

10,306,804.76

12 mo. Rolling Average

466,584

294,639,803

0.16%

WAC - Current

12.34%

N/A

12.34%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

12.34%

N/A

12.34%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

299.43

N/A

299.43

6 mo. Cum loss

0.00

WAL - Original

300.79

N/A

300.79

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

291,524,658.38

4,115

97.91%

Current Index Rate

Scheduled Principal

68,693.35

0.02%

Triggers

Next Index Rate

Unscheduled Principal

4,145,418.18

1.39%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

466,583.75

294,639,803

0.16%

Ending Pool

287,310,546.85

4,057

96.49%

> Loss Trigger Event?

(3)

Average Loan Balance

70,818.47

Cumulative Loss

0.00%

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

27.77%

Cut-off LTV

97.10%

Step Down %

(5)

53.60%

Cash Out/Refinance

25.75%

Credit Enhancement

Amount

Delinquent Event Threshold %

(6)

14.90%

SFR

58.34%

Original OC

17,122,947.64

5.75%

> Step Down Date?

Target OC

17,120,909.49

5.75%

Min

Max

Beginning OC

17,120,909.49

Extra Principal

0.00

FICO

605

817

703.46

OC Amount per PSA

17,120,909.49

5.75%

Cumulative Extra Principal

0.00

Ending OC

17,120,909.49

OC Release

N/A

Non-Senior Certificates

62,677,000.00 21.05%

Legend: (1) 60 Days+, REO, BK, F/C % (3) Condn: Cum Loss > specified thresholds (5) Defined Benchmark (7) Condn: Distn Cnt > 36, (4) > (5)
(2) (1) > (6) then TRUE (4) Non-Senior Certs + OC Amount / Ending Pool Bal (6) Defined Benchmark (Used in Delinq Event Calc)
Note: Delinquency and Loss Event Triggers may be flagged as "Yes" prior to the Step Down Date on account of the percentage thresholds being breached.

Owner Occupied

261,355,684.14

89.52%

Balance

283,489,202.23

75,186,104.95

170,338,697.43

Misc/Additional Information

Pool Level Information

5.320000%

Distribution Date: 25-Apr-07

Pool Detail and Performance Indicators Total(All Loans)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 9 of 40

23-Apr-2007 08:16

Distribution Date: 25-Apr-07

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

268,148,564.91

3,495

3 mo. Rolling Average

408,935

265,149,078

0.16%

WAC - Remit Current 11.90%

N/A

11.90%

Cum Scheduled Principal

120,177.22

6 mo. Rolling Average

408,935

265,149,078

0.16%

WAC - Remit Original 11.90%

N/A

11.90%

Cum Unscheduled Principal

9,809,566.17

12 mo. Rolling Average

408,935

265,149,078

0.16%

WAC - Current

12.42%

N/A

12.42%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

12.42%

N/A

12.42%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

299.08

N/A

299.08

6 mo. Cum loss

0.00

WAL - Original

300.46

N/A

300.46

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

262,149,591.69

3,419

97.76%

Current Index Rate

Scheduled Principal

59,983.53

0.02%

Triggers

Next Index Rate

Unscheduled Principal

3,870,786.65

1.44%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

408,934.87

265,149,078

0.16%

Ending Pool

258,218,821.51

3,368

96.30%

> Loss Trigger Event?

(3)

Average Loan Balance

76,668.30

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

97.32%

Step Down %

(5)

N/A

Cash Out/Refinance

20.41%

Delinquent Event Threshold %

(6)

N/A

SFR

57.59%

> Step Down Date?

Min

Max

Extra Principal

0.00

FICO

605

817

705.44

Cumulative Extra Principal

0.00

OC Release

N/A

88.34%

255,538,759.00

53,597,051.68

151,224,615.46

Owner Occupied

231,966,067.42

Pool Level Information

N/A

Balance

Pool Detail and Performance Indicators Group I

Misc/Additional Information

Page 10 of 40

23-Apr-2007 08:16

Distribution Date: 25-Apr-07

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Pool Detail

Performance Indicators

Factors Impacting Principal Payment Rules

WA Rates/Life

Historical

Amount

Count

Delinquency Levels

Num

Den

Fixed

Adj

Overall

Cut-off Pool Balance

29,606,382.74

700

3 mo. Rolling Average

57,649

29,490,725

0.20%

WAC - Remit Current 11.10%

N/A

11.10%

Cum Scheduled Principal

17,418.81

6 mo. Rolling Average

57,649

29,490,725

0.20%

WAC - Remit Original 11.10%

N/A

11.10%

Cum Unscheduled Principal

497,238.59

12 mo. Rolling Average

57,649

29,490,725

0.20%

WAC - Current

11.62%

N/A

11.62%

Cum Liquidations

0.00

Loss Levels

Amount

Count

WAC - Original

11.62%

N/A

11.62%

Cum Repurchases

0.00

3 mo. Cum Loss

0.00

WAL - Current

302.59

N/A

302.59

6 mo. Cum loss

0.00

WAL - Original

303.73

N/A

303.73

Current

Amount

Count

12 mo. Cum Loss

0.00

Beginning Pool

29,375,066.69

696

99.22%

Current Index Rate

Scheduled Principal

8,709.82

0.03%

Triggers

Next Index Rate

Unscheduled Principal

274,631.53

0.93%

Liquidations

0.00

0.00%

> Delinquency Trigger Event

(2)

Repurchases

0.00

0.00%

Delinquency Event Calc

(1)

57,648.88

29,490,725

0.20%

Ending Pool

29,091,725.34

689

98.26%

> Loss Trigger Event?

(3)

Average Loan Balance

42,223.11

Cumulative Loss

N/A

Current Loss Detail

Amount

> Overall Trigger Event?

Liquidation

0.00

Pool Composition

Realized Loss

0.00

Step Down Date

Realized Loss Adjustment

0.00

Distribution Count

Properties

%/Score

Net Liquidation

0.00

Current Specified Enhancement %

(4)

N/A

Cut-off LTV

95.10%

Step Down %

(5)

N/A

Cash Out/Refinance

73.46%

Delinquent Event Threshold %

(6)

N/A

SFR

65.04%

> Step Down Date?

Min

Max

Extra Principal

0.00

FICO

620

806

685.85

Cumulative Extra Principal

0.00

OC Release

N/A

Owner Occupied

29,389,616.71

100.00%

Balance

27,950,443.23

21,589,053.27

19,114,081.97

Misc/Additional Information

Pool Level Information

N/A

Pool Detail and Performance Indicators Group II

Page 11 of 40

23-Apr-2007 08:16

I-A

Act/360

190,286,989.27

5.480000000%

868,977.25

0.00

868,977.25

0.00

N/A

0.00

N/A

II-A

Act/360

21,439,759.62

5.470000000%

97,729.57

0.00

97,729.57

0.00

M-1

Act/360

15,483,000.00

5.820000000%

75,092.55

0.00

75,092.55

0.00

M-2

Act/360

13,994,000.00

5.870000000%

68,453.98

0.00

68,453.98

0.00

M-3

Act/360

6,253,000.00

5.970000000%

31,108.68

0.00

31,108.68

0.00

M-4

Act/360

5,360,000.00

6.220000000%

27,782.67

0.00

27,782.67

0.00

M-5

Act/360

4,913,000.00

6.370000000%

26,079.84

0.00

26,079.84

0.00

M-6

Act/360

4,615,000.00

6.520000000%

25,074.83

0.00

25,074.83

0.00

B-1

Act/360

4,317,000.00

8.320000000%

29,931.20

0.00

29,931.20

0.00

B-2

Act/360

3,871,000.00

8.820000000%

28,451.85

0.00

28,451.85

0.00

B-3

Act/360

3,871,000.00

8.820000000%

28,451.85

0.00

28,451.85

0.00

291,524,658.38

N/A

1,563,905.02

100,482.61

0.00

1,653,778.50

0.00

N/A

R-1

0.00

N/A

0.00

N/A

R-2

0.00

N/A

0.00

N/A

R-3

0.00

N/A

0.00

N/A

0.00

N/A

0.00

N/A

Total

274,403,748.89

2,871,039.29

100,482.61

0.00

2,960,912.77

0.00

Remaining

Basis Risk
Carry-Fwd

Shortfall

Outstanding Relief

Act / Prepayment

Interest Shortfalls

Net Cap

Rate in

Effect Y/N

(1)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Distributable

Certificate

Interest

Interest Payment

Amount

Current Period

(Shortfall) /

Recovery

Remaining Int

Carry-Forward

Shortfall

- - A c c r u a l - -

- - - - - - - - O u t s t a n d i n g - - - - - - - -

Class

Method

Days

Opening Balance

Pass-Thru Rate

Accrual

Certificate

Interest

Total Interest

Additions

Total Interest

Deductions

Distribution Date: 25-Apr-07

Bond Interest Reconciliation - Part I

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 12 of 40

23-Apr-2007 08:16

I-A

24-Apr-07

26-Mar-07

25-Apr-07

0.00

30-Mar-07

1-Mar-07

1-Apr-07

0.00

II-A

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-1

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-2

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-3

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-4

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-5

24-Apr-07

26-Mar-07

25-Apr-07

0.00

M-6

24-Apr-07

26-Mar-07

25-Apr-07

0.00

B-1

24-Apr-07

26-Mar-07

25-Apr-07

0.00

B-2

24-Apr-07

26-Mar-07

25-Apr-07

0.00

B-3

24-Apr-07

26-Mar-07

25-Apr-07

0.00

30-Mar-07

1-Mar-07

1-Apr-07

0.00

39,932.35

0.00

60,550.26

0.00

R-1

30-Mar-07

1-Mar-07

1-Apr-07

0.00

R-2

30-Mar-07

1-Mar-07

1-Apr-07

0.00

R-3

30-Mar-07

1-Mar-07

1-Apr-07

0.00

30-Mar-07

1-Mar-07

1-Apr-07

0.00

Total

0.00

39,932.35

0.00

60,550.26

0.00

Current Basis Risk

Carry-Fwd

Shortfall

(1)

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

(2)

Interest Carry-Forward Shortfall is unpaid interest with interest thereon.

(3)

Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Prior Shortfall

Reimbursement

Other Interest

Proceeds

(1)

Other Interest

Losses

Current Int Carry-

Fwd Shortfall

(2)

- - - - - - - - - - - - - - - - - - - - - - - - - - - A d d i t i o n s - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - D e d u c t i o n s - - - - - - - - - -

Class

Record Date

Prior Interest Due

Date

Current Interest

Due Date

Interest Rate

SWAP Agreement

Deposits from YM

Agreement

Prepayment

Premiums

Prior Int Carry-Fwd

Shortfall

Distribution Date: 25-Apr-07

Bond Interest Reconciliation - Part II

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 13 of 40

23-Apr-2007 08:16

I-A

196,284,000.00

190,286,989.27

64,074.66

3,866,695.52

0.00

186,356,219.09

25-Feb-37

N/A

0.00

25-Feb-37

N/A

II-A

21,671,000.00

21,439,759.62

4,618.69

278,722.66

0.00

21,156,418.27

25-Feb-37

N/A

M-1

15,483,000.00

0.00

15,483,000.00

25-Feb-37

N/A

M-2

13,994,000.00

0.00

13,994,000.00

25-Feb-37

N/A

M-3

6,253,000.00

0.00

6,253,000.00

25-Feb-37

N/A

M-4

5,360,000.00

0.00

5,360,000.00

25-Feb-37

N/A

M-5

4,913,000.00

0.00

4,913,000.00

25-Feb-37

N/A

M-6

4,615,000.00

0.00

4,615,000.00

25-Feb-37

N/A

B-1

4,317,000.00

0.00

4,317,000.00

25-Feb-37

N/A

B-2

3,871,000.00

0.00

3,871,000.00

25-Feb-37

N/A

B-3

3,871,000.00

0.00

3,871,000.00

25-Feb-37

N/A

297,754,947.64

291,524,658.38

0.00

287,310,546.85

25-Feb-37

N/A

R-1

0.00

25-Feb-37

N/A

R-2

0.00

25-Feb-37

N/A

R-3

0.00

25-Feb-37

N/A

0.00

25-Feb-37

N/A

Total

280,632,000.00

274,403,748.89

68,693.35

4,145,418.18

0.00

270,189,637.36

Rated

Final

Maturity

Original

Current

Losses

Cumulative

Losses

Interest on

Losses

Ending

Class Balance

- - - - - - - - - - - - - - - - L o s s e s - - - - - - - - - - - - - - -

- Credit Support -

Class

Original Class

Balance

Beginning Class

Balance

Scheduled Principal

Payment

Unscheduled

Principal

Payment

Extra

Principal

Payment

Prior

Loss

Reimburs.

Distribution Date: 25-Apr-07

Bond Principal Reconciliation

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 14 of 40

23-Apr-2007 08:16

Class

CUSIP

Fitch

Moody's

DBRS

S&P

I-A

07401RAA8

Aaa

AAA

II-A

07401RAB6

Aaa

AAA

M-1

07401RAC4

Aa1

AA+

M-2

07401RAD2

Aa2

M-3

07401RAE0

Aa3

AA-

M-4

07401RAF7

A+

M-5

07401RAG5

M-6

07401RAH3

A-

B-1

07401RAJ9

Baa1

BBB+

B-2

07401RAK6

Baa2

BBB

B-3

07401RAL4

Baa3

BBB-

07401RAT7

07401RAS9

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.

- - - - - - - - - - - - O r i g i n a l R a t i n g s - - - - - - - - - -

- - - - - - - - - - - - - - - - R a t i n g s C h a n g e / C h a n g e D a t e

(1)

- - - - - - - - - - - - - - - -

Fitch

Moody's

DBRS

S&P

Distribution Date: 25-Apr-07

Ratings Information

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 15 of 40

23-Apr-2007 08:16

Type

Count

Count (%)

Balance

Balance (%)

Arrears

Arrears (%)

REO Book Value

3996

97.1081%

281,313,067.50

97.5125%

0.00

0.0000%

0.00

1.7497%

6,242,923.45

2.1640%

0.00

0.0000%

0.00

0.2187%

870,634.08

0.3018%

0.00

0.0000%

0.00

BKY0

0.0486%

62,533.41

0.0217%

0.00

0.0000%

0.00

PIF

0.8748%

0.00

0.0000%

0.00

0.0000%

0.00

Total (Prior Month End):

4115

100.0000%

288,489,158.00

100.0000%

0.00

0.0000%

0.00

Delinq Total (Prior Month End):

1.9684%

7,113,557.00

2.4658%

0.00

0.0000%

0.00

F/C Quick Sale

Value

Total

Distribution Date: 25-Apr-07

End of Month Balance Reporting

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 16 of 40

23-Apr-2007 08:17

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Apr-07

3,975

280,252,456

6,124,923

870,634

62,533

26-Mar-07

4,101

290,081,094

1,443,564

25-Apr-07

97.98%

97.54%

1.75%

2.13%

0.22%

0.30%

0.00%

0.05%

0.02%

0.00%

26-Mar-07

99.66%

99.50%

0.34%

0.50%

0.00%

Total(All Loans)

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 17 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Apr-07

3,297

251,630,011

5,770,941

817,870

26-Mar-07

3,408

260,868,759

1,280,833

25-Apr-07

97.89%

97.45%

1.87%

2.23%

0.24%

0.32%

0.00%

26-Mar-07

99.68%

99.51%

0.32%

0.49%

0.00%

Group I

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Page 18 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

Count

Balance

25-Apr-07

678

28,622,445

353,983

52,764

62,533

26-Mar-07

693

29,212,335

162,731

25-Apr-07

98.40%

98.39%

1.16%

1.22%

0.15%

0.18%

0.00%

0.29%

0.21%

0.00%

26-Mar-07

99.57%

99.45%

0.43%

0.55%

0.00%

Group II

Delinquency Balances are Exclusive of REO, Foreclosures and Bankruptcies.

Delinq 3+ Months

Bankruptcy

Foreclosure

REO

Distribution

Date

Current

Delinq 1 Month

Delinq 2 Months

Page 19 of 40

23-Apr-2007 08:17

Balance

25-Apr-07

62,533

26-Mar-07

25-Apr-07

0.00%

0.05%

0.02%

0.00%

26-Mar-07

0.00%

61-90 Days

90 + Days

Total(All Loans)

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 20 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Balance

25-Apr-07

26-Mar-07

25-Apr-07

0.00%

26-Mar-07

0.00%

90 + Days

Group I

90 + Days

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

61-90 Days

Distribution

Date

Current

31-60 Days

61-90 Days

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

Page 21 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II (as of Cut-Off)

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Balance

25-Apr-07

62,533

26-Mar-07

25-Apr-07

0.00%

0.29%

0.21%

0.00%

26-Mar-07

0.00%

61-90 Days

90 + Days

Group II

61-90 Days

90 + Days

Current

31-60 Days

- - - - - - - - - - - I n F o r e c l o s u r e a n d D e l i n q u e n t - - - - - - - - - - - - -

- - - - - - - - - - - - - - - I n R E O a n d D e l i n q u e n t - - - - - - - - - - - - - -

- - - - - - - - - - - - - I n B a n k r u p t c y a n d D e l i n q u e n t - - - - - - - - - - - - -

Distribution

Date

Current

31-60 Days

61-90 Days

90 + Days

Current

31-60 Days

Page 22 of 40

23-Apr-2007 08:17

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Apr-07

4,057

287,310,547

4,025,018

0.00

299

12.34%

11.82%

26-Mar-07

4,115

291,524,658

5,793,885

0.00

301

12.34%

11.82%

25-Apr-07

3,368

258,218,822

3,760,319

0.00

299

12.42%

11.90%

26-Mar-07

3,419

262,149,592

5,577,157

0.00

300

12.42%

11.90%

Curr Weighted Avg.

Total(All Loans)

Group I

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Distribution Date: 25-Apr-07

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

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 23 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

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

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Insurance

Substitution

Liquidation

Remaining Term

Balance

Proceeds

Amount

Life

Coupon

Remit

25-Apr-07

689

29,091,725

264,698

0.00

303

11.62%

11.10%

26-Mar-07

696

29,375,067

216,728

0.00

304

11.62%

11.10%

Curr Weighted Avg.

Group II

Distribution

Date

Ending Pool

Payoffs

Realized Losses

Page 24 of 40

23-Apr-2007 08:17

SMM (Single Monthly Mortality)

Total

Current Period

1.42%

3-Month Average

1.75%

6-Month Average

1.75%

12-Month Average

1.75%

Average Since Cut-Off

1.75%

CPR (Conditional Prepayment Rate)

Total

Current Period

15.79%

3-Month Average

18.99%

6-Month Average

18.99%

12-Month Average

18.99%

Average Since Cut-Off

18.99%

PSA (Public Securities Association)

Total

Current Period

263%

3-Month Average

317%

6-Month Average

317%

12-Month Average

317%

Average Since Cut-Off

317%

SMM

Single Monthly Mortality

(Partial and Full Prepayments + Repurchases + Curtailments + Liquidations + Other Prin Proceeds) / (Beginning Collateral Bal - Scheduled Prin)

CPR

Conditional Prepayment Rate

1 - (1 - SMM)^12)

PSA

Public Securities Association

100 * CPR / (0.2 * MIN(30,WAS))

WAS

Weighted Average Seasoning

(Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Distribution Date: 25-Apr-07

Prepayment Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

0.00%

2.43%

4.86%

7.29%

9.71%

12.14%

14.57%

17.00%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

0.00%

14.29%

28.57%

42.86%

57.14%

71.43%

85.71%

100.00%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

229%

457%

686%

914%

1143%

1371%

1600%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

Page 25 of 40

23-Apr-2007 08:17

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

26,000

425

10.48%

8,172,836

2.84%

7,000

26,000

436

10.39%

8,486,373

2.85%

26,000

33,000

343

8.45%

10,205,369

3.55%

26,000

33,000

348

8.30%

10,356,924

3.48%

33,000

40,000

329

8.11%

12,059,790

4.20%

33,000

40,000

348

8.30%

12,742,125

4.28%

40,000

47,000

369

9.10%

16,160,531

5.62%

40,000

47,000

385

9.18%

16,869,893

5.67%

47,000

54,000

355

8.75%

17,979,035

6.26%

47,000

54,000

361

8.61%

18,297,146

6.15%

54,000

60,000

251

6.19%

14,425,928

5.02%

54,000

60,000

261

6.22%

15,016,073

5.04%

60,000

73,000

466

11.49%

31,020,625

10.80%

60,000

73,000

485

11.56%

32,294,159

10.85%

73,000

86,000

381

9.39%

30,225,747

10.52%

73,000

86,000

393

9.37%

31,174,114

10.47%

86,000

99,000

347

8.55%

32,059,912

11.16%

86,000

99,000

359

8.56%

33,191,019

11.15%

99,000

112,000

197

4.86%

20,745,203

7.22%

99,000

112,000

205

4.89%

21,591,231

7.25%

112,000

127,000

193

4.76%

23,058,686

8.03%

112,000

127,000

199

4.74%

23,781,874

7.99%

127,000

450,000

401

9.88%

71,196,884

24.78%

127,000

450,000

415

9.89%

73,954,018

24.84%

4,057

100.00%

287,310,547

100.00%

4,195

100.00%

297,754,948

100.00%

Min

Max

Count

% of Total

Balance

% of Total

Min

Max

Count

% of Total

Balance

% of Total

6.50%

9.88%

433

10.67%

25,038,435

8.71%

6.50%

9.88%

451

10.75%

26,240,357

8.81%

9.88%

10.34%

181

4.46%

10,884,191

3.79%

9.88%

10.34%

186

4.43%

11,216,838

3.77%

10.34%

10.81%

333

8.21%

20,914,609

7.28%

10.34%

10.81%

349

8.32%

22,123,903

7.43%

10.81%

11.28%

348

8.58%

25,056,400

8.72%

10.81%

11.28%

358

8.53%

25,849,763

8.68%

11.28%

11.75%

356

8.77%

28,310,830

9.85%

11.28%

11.75%

367

8.75%

29,639,929

9.95%

11.75%

12.25%

407

10.03%

35,393,836

12.32%

11.75%

12.25%

419

9.99%

36,576,255

12.28%

12.25%

12.88%

696

17.16%

65,536,804

22.81%

12.25%

12.89%

708

16.88%

66,409,343

22.30%

12.88%

13.50%

270

6.66%

16,152,888

5.62%

12.89%

13.53%

283

6.75%

17,041,880

5.72%

13.50%

14.13%

260

6.41%

15,942,722

5.55%

13.53%

14.17%

268

6.39%

16,676,124

5.60%

14.13%

14.75%

251

6.19%

15,319,769

5.33%

14.17%

14.81%

257

6.13%

15,784,228

5.30%

14.75%

15.38%

121

2.98%

6,483,966

2.26%

14.81%

15.50%

147

3.50%

7,874,392

2.64%

15.38%

22.63%

401

9.88%

22,276,097

7.75%

15.50%

22.63%

402

9.58%

22,321,934

7.50%

4,057

100.00%

287,310,547

100.00%

4,195

100.00%

297,754,948

100.00%

Distribution by Current Ending Principal Balance

Distribution by Cut-off Principal Balance

Distribution by Current Mortgage Rate

Distribution by Original Mortgage Rate

Distribution Date: 25-Apr-07

Mortgage Loan Characteristics Part I

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 26 of 40

23-Apr-2007 08:17

4,057

287,310,547

100.00%

299.43

12.35%

4,195

297,754,948

100.00%

303.55

12.34%

4,057

287,310,547

100.00%

4,195

297,754,948

100.00%

2,306

165,171,396

57.49%

301.12

12.16%

2,366

169,599,854

56.96%

305.03

12.17%

1,119

83,129,204

28.93%

294.49

12.45%

1,179

87,784,262

29.48%

299.45

12.42%

413

25,014,043

8.71%

301.96

12.51%

428

26,145,135

8.78%

305.23

12.51%

160

10,988,433

3.82%

304.36

13.72%

162

11,170,649

3.75%

307.81

13.70%

2,990,688

1.04%

304.83

13.22%

3,038,257

1.02%

309.98

13.28%

16,782

5.84E-05

175.00

12.50%

16,791

5.64E-05

180.00

12.50%

4,057

287,310,547

100.00%

4,195

297,754,948

100.00%

Total

SF Attached Dwelling

Other

SF Unattached Dwelling

PUD

Condo - High Facility

Multifamily

Distribution by Property Types (Cut-off)

Property Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Total

Fixed 2nd Lien

Distribution by Product Characteristics (Cut-off)

Product Type

# of

Loans

Original Principal

Balance

% of

Balance

WAMM

WAC

Total

SF Attached Dwelling

Other

SF Unattached Dwelling

PUD

Condo - High Facility

Multifamily

Distribution by Property Types (Current)

Property Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Total

Distribution by Product Characteristics (Current)

Product Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Fixed 2nd Lien

Distribution Date: 25-Apr-07

Mortgage Loan Characteristics Part II

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 27 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Mortgage Loan Characteristics Part II

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

3,304

251,519,592

87.54%

300.99

11.89%

3,402

259,907,529

87.29%

305.04

11.88%

652

29,907,822

10.41%

286.16

15.70%

687

31,700,084

10.65%

290.36

15.65%

101

5,883,133

2.05%

300.43

14.67%

106

6,147,334

2.06%

308.43

14.74%

4,057

287,310,547

100.00%

4,195

297,754,948

100.00%

2,941

212,685,256

74.03%

299.26

12.54%

3,057

221,277,642

74.32%

303.50

12.54%

688

43,360,205

15.09%

285.83

11.71%

703

44,674,183

15.00%

290.80

11.69%

428

31,265,086

10.88%

319.45

11.92%

435

31,803,123

10.68%

321.79

11.91%

4,057

287,310,547

100.00%

4,195

297,754,948

100.00%

Distribution by Loan Purpose (Cut-off)

Loan Purpose

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Occupancy Type (Cut-off)

Occupancy Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Loan Purpose (Current)

Loan Purpose

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Occupancy Type (Current)

Occupancy Type

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Total

Refinance/No Cash Out

Purchase

Refinance/Equity Takeout

Total

Owner Occupied - Secondary Residence

Owner Occupied - Primary Residence

Non-Owner Occupied

Page 28 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Mortgage Loan Characteristics Part II

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Distribution by Originator Concentration > 10% (Cut-off)

Originator

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Distribution by Originator Concentration > 10% (Current)

Originator

# of

Loans

Ending Balance

% of

Balance

WAMM

WAC

Page 29 of 40

23-Apr-2007 08:17

WAMM

WAC

California

1,460

135,507,013

47.16%

301

11.77%

Florida

472

27,942,553

9.73%

292

13.10%

Arizona

340

21,611,379

7.52%

303

12.26%

Nevada

238

15,477,695

5.39%

273

12.60%

Virginia

196

15,262,672

5.31%

292

13.02%

Maryland

205

15,232,368

5.30%

303

12.80%

Georgia

186

8,178,516

2.85%

303

13.47%

Texas

188

7,039,560

2.45%

296

13.25%

New Jersey

4,793,877

1.67%

326

12.80%

Washington

4,792,194

1.67%

333

12.16%

Remaining

611

31,472,718

10.95%

304

13.01%

WAMM

WAC

California

1,494

138,531,107

46.53%

304

11.76%

Florida

483

28,946,736

9.72%

296

13.07%

Arizona

368

23,588,944

7.92%

306

12.29%

Maryland

217

16,535,214

5.55%

309

12.81%

Virginia

204

16,016,557

5.38%

296

12.99%

Nevada

245

15,881,965

5.33%

277

12.63%

Georgia

193

8,496,681

2.85%

308

13.46%

Texas

189

7,123,689

2.39%

301

13.26%

Washington

5,094,791

1.71%

338

12.11%

New Jersey

4,846,572

1.63%

332

12.79%

Remaining

638

32,692,692

10.98%

308

13.00%

(1)

Based on Current Period Ending Principal Balance

Top 10 Original State Concentration

Geographic
Distribution

# of

Loans

Balance

(1)

% of

Balance

Top 10 Current State Concentration

Geographic
Distribution

# of

Loans

Balance

(1)

% of

Balance

Distribution Date: 25-Apr-07

Geographic Concentration

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Top 10 Current State Concentration

California

Nevada

Arizona

Florida

Washington

New Jersey

Texas

Georgia

Maryland

Virginia

Remaining

Page 30 of 40

23-Apr-2007 08:17

C
M
N
O
P

REO
Short Pay
Third Party
Write-off

R
S
T
W

1
2
3
4
5

6
7
8
9

Third Party
Charged Off/Matured
Side Note
Manual

Liq. Type Code - Legend
Charge-off
Matured
Repurchase
Note Sale
Paid in Full

Adjustment Legend
Escrow Bal/Adv
MREC
Rest'd Escrow
Replacement Res.
Suspense

Loss-Loan

Adjusted

Loss-Certs

Adjusted

Liq Type

Adj Type

Loss-Loan Non-

adjusted

Loss to Trust

Loss-Certs Non-

adjusted

Subsequent

Recov/(Exp)

Disclosure Control

Period

Original

Liquidation

Balance

Net Liquidation

Proceeds

Distribution Date: 25-Apr-07

Current Period Realized Loss Detail

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 31 of 40

23-Apr-2007 08:17

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

Total(All Loans)

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Distribution Date: 25-Apr-07

Historical Realized Loss Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 32 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Historical Realized Loss Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Group I

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Page 33 of 40

23-Apr-2007 08:17

Distribution Date: 25-Apr-07

Historical Realized Loss Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Distribution Date

Beginning Scheduled

Balance

Net Liquidation

Proceeds

Realized Loss

Loan Count

Realized Loss

Adjusted

Cumulative

Realized Loss

Amount

Count

Amount

Count

Amount

Count

25-Apr-07

0.00

26-Mar-07

0.00

Total

0.00

Claims on Prior

Liquidations

Recovery on Prior

Liquidations

(Claims)/Recoveries on

Prior Payoffs

Group II

- - - - - - - - - - - - - - - - - C u r r e n t R e a l i z e d L o s s - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - P r e v i o u s L i q u i d a t i o n s / P a y o f f s - - - - - - - - - - - - - -

Page 34 of 40

23-Apr-2007 08:17

MDR (monthly Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

CDR (Conditional Default Rate)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

SDA (Standard Default Assumption)

Total

Current Period

0.00%

3-Month Average

0.00%

6-Month Average

0.00%

12-Month Average

0.00%

Average Since Cut-Off

0.00%

MDR

Monthly Default Rate

(Beginning Principal Balance of Liquidated Loans) / (Total Beginning Principal Balance)

CDR

Conditional Default Rate

1 - (1 - MDR)^12

SDA

Standard Default Assumption

If WAS=30 then CDR/(WAS*0.02) else if 30<WAS=60 then CDR/0.6 else if 60<WAS=120 then CDR/(0.6-((WAS-60)*0.0095)) else if WAS>120 then CDR/0.03

WAS

Weighted Average Seasoning

(Original Term - Remaining Term) * (Current Scheduled Balance / Deal Scheduled Principal Balance)

Distribution Date: 25-Apr-07

Realized Loss Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

0.00%

0.86%

1.71%

2.57%

3.43%

4.29%

5.14%

6.00%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

0.00%

7.14%

14.29%

21.43%

28.57%

35.71%

42.86%

50.00%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

286%

571%

857%

1143%

1429%

1714%

2000%

May-06

Jun-06

Jul-06

Aug-06

Sep-06

Oct-06

Nov-06

Dec-06

Jan-07

Feb-07

Mar-07

Apr-07

Page 35 of 40

23-Apr-2007 08:17

Material breaches of pool asset representation or warranties or transaction covenants.

Material Breach Description

Disclosure

Control #

Loan Group #

Ending Principal

Balance

Material Breach

Date

Distribution Date: 25-Apr-07

Material Breaches Detail

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 36 of 40

23-Apr-2007 08:17

Modifications include any extensions or waivers to the mortgage loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.

Modification Description

Disclosure

Control #

Loan Group #

Modified Maturity

Date

Cutoff Maturity

Date

Distribution Date: 25-Apr-07

Modified Loan Detail

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 37 of 40

23-Apr-2007 08:17

Mortgage Loans Released to Class X:

Distribution Date: 25-Apr-07

Releases

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 38 of 40

23-Apr-2007 08:17

Substitution Code

- - - Loans Substituted Into Pool - - -

- - - - - - - - - - Loans Substituted Out of Pool - - - - - - - - - -

Investor #

Period

Beginning Principal Balance

Investor #

Period

Beginning Principal

Balance

Adjusted for Principal

Distribution Date: 25-Apr-07

Substitution Detail History

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 39 of 40

23-Apr-2007 08:17

- - - Loans Substituted Into Pool - - -

- - - Loans Substituted Out of Pool - - -

Period

Count

Beginning Principal Balance

Count

Beginning Principal Balance

Adjusted for Principal

Difference Into vs.

Out

Distribution Date: 25-Apr-07

Substitution Detail History Summary

Bear Stearns Mortgage Funding Trust

Mortgage-Backed Certificates

Series 2007-SL2

Page 40 of 40

23-Apr-2007 08:17

Bear Stearns Mortgage Funding Trust 2007-SL2 10-D