8-K 1 bst02002.txt AUGUST 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-21 45-0470721 Pooling and Servicing Agreement) (Commission 45-0470722 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On August 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the August 25, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-2 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/3/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the August 25, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/25/03 BST Series: 2002-2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MJB9 SEN 2.~~92932~~92923% 9190,~~011~~175,~~106~~586.4570 ~~222~~217,~~166~~327.9695 ~~835~~2,~~519~~628,109.75 II-A 07384MJE3 SEN 6.~~30242~~24125% 13,~~879~~862,~~283~~145.9922 7271,~~894~~182.2285 171,~~138~~091,592.7794 III-A 07384MJF0 SEN 6.~~74511~~75713% 2019,~~639~~133,~~837~~723.1910 ~~116~~106,~~015~~373.0189 13,~~506~~796,~~114~~219.0997 R-1 07384MJC7 RES 3.~~62103~~62317% 0.00 0.00 0.00 R-2 07384MJD5 RES 3.~~62103~~62317% 0.00 0.00 0.00 B-1 07384MJG8 SUB 4.~~83500~~82443% 4,~~675~~671,~~008~~846.8442 18,~~836~~544.4117 3,~~162~~214.4225 B-2 07384MJH6 SUB 4.~~83500~~82443% 2,~~103~~102,~~971~~548.6844 8,~~477~~345.2674 1,~~423~~446.2456 B-3 07384MJJ2 SUB 4.~~83500~~82443% 1,~~402~~401,~~482~~534.8615 5,~~650~~563.8417 ~~948~~964.7126 B-4 07384MJT0 SUB 4.~~83500~~82443% ~~935~~934,~~021~~389.5606 3,~~767~~708.3691 ~~632~~642.5086 B-5 07384MJU7 SUB 4.~~83500~~82443% ~~701~~700,~~191~~717.9563 2,~~825~~781.2239 ~~474~~482.3210 B-6 07384MJV5 SUB 4.~~83500~~82443% ~~701~~700,~~455~~980.3080 2,~~826~~782.2843 ~~474~~482.5028 Totals ~~136~~133,~~049~~683,~~359~~471.8252 ~~453~~436,~~459~~610.5650 27,~~365~~523,~~888~~154.3097

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 9087,~~175~~547,~~586~~476.7095 12,~~057~~845,~~686~~437.7170 0.00 II-A 0.00 1312,~~862~~770,~~145~~552.2228 901,~~032~~162,775.9979 0.00 III-A 0.00 1915,~~133~~337,~~723~~503.1013 13,~~622~~902,~~129~~593.1086 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 B-1 0.00 4,~~671~~668,~~846~~632.4216 21,~~998~~758.8342 0.00 B-2 0.00 2,~~102~~101,~~548~~101.4488 9,~~900~~792.5030 0.00 B-3 0.00 1,~~401~~400,~~534~~569.1589 6,~~599~~527.5543 0.00 B-4 0.00 ~~934~~933,~~389~~746.0620 4,~~399~~351.8677 0.00 B-5 0.00 700,~~717~~235.6353 3,~~299~~263.5449 0.00 B-6 0.00 700,~~980~~498.8052 3,~~300~~264.7871 0.00 Totals 0.00 ~~133~~126,~~683~~160,~~471~~316.5254 27,~~819~~959,~~347~~765.8647 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 106,205,800.00 9190,~~011~~175,~~106~~586.4570 0.00 ~~835~~2,~~519~~628,109.75 0.00 0.00 II-A 48,612,400.00 13,~~879~~862,~~283~~145.9922 16,~~522~~836.8059 ~~615~~1,074,756.9735 0.00 0.00 III-A 70,774,500.00 2019,~~639~~133,~~837~~723.1910 2826,~~053~~427.9035 13,~~478~~769,~~060~~792.1962 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4,~~675~~671,~~008~~846.8442 3,~~162~~214.4225 0.00 0.00 0.00 B-2 2,126,200.00 2,~~103~~102,~~971~~548.6844 1,~~423~~446.2456 0.00 0.00 0.00 B-3 1,417,300.00 1,~~402~~401,~~482~~534.8615 ~~948~~964.7126 0.00 0.00 0.00 B-4 944,900.00 ~~935~~934,~~021~~389.5606 ~~632~~642.5086 0.00 0.00 0.00 B-5 708,600.00 ~~701~~700,~~191~~717.9563 ~~474~~482.3210 0.00 0.00 0.00 B-6 708,866.18 ~~701~~700,~~455~~980.3080 ~~474~~482.5028 0.00 0.00 0.00 Totals 236,223,066.18 ~~136~~133,~~049~~683,~~359~~471.8252 5150,~~692~~496.3925 27,~~314~~472,~~195~~658.9172 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution I-A ~~835~~2,~~519~~628,109.75 9087,~~175~~547,~~586~~476.7095 0.~~84906462~~82431917 ~~835~~2,~~519~~628,109.75 II-A 171,~~138~~091,592.7794 1312,~~862~~770,~~145~~552.2228 0.~~28515657~~26270154 171,~~138~~091,592.7794 III-A 13,~~506~~796,~~114~~219.0997 1915,~~133~~337,~~723~~503.1013 0.~~27034770~~21670945 13,~~506~~796,~~114~~219.0997 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 B-1 3,~~162~~214.4225 4,~~671~~668,~~846~~632.4216 0.~~98887614~~98819578 3,~~162~~214.4225 B-2 1,~~423~~446.2456 2,~~102~~101,~~548~~101.4488 0.~~98887614~~98819579 1,~~423~~446.2456 B-3 ~~948~~964.7126 1,~~401~~400,~~534~~569.1589 0.~~98887614~~98819579 ~~948~~964.7126 B-4 ~~632~~642.5086 ~~934~~933,~~389~~746.0620 0.~~98887614~~98819579 ~~632~~642.5086 B-5 ~~474~~482.3210 700,~~717~~235.6353 0.~~98887614~~98819578 ~~474~~482.3210 B-6 ~~474~~482.5028 700,~~980~~498.8052 0.~~98887607~~98819571 ~~474~~482.5028 Totals 27,~~365~~523,~~888~~154.3097 ~~133~~126,~~683~~160,~~471~~316.5254 0.~~56592048~~53407281 27,~~365~~523,~~888~~154.3097

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 106,205,800.00 ~~856~~849.~~93160308~~06461512 0.00000000 724.~~86698796~~74544469 0.00000000 II-A 48,612,400.00 285.~~50912915~~15656952 0.~~33988859~~34634353 022.~~01267105~~10868729 0.00000000 III-A 70,774,500.00 ~~291~~270.~~62815972~~34769726 0.~~39638429~~37340214 2053.~~88407816~~26484285 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 ~~989~~988.~~54551689~~87613665 0.~~66938024~~68035094 0.00000000 0.00000000 B-2 2,126,200.00 ~~989~~988.~~54551783~~87613583 0.~~66938200~~68034992 0.00000000 0.00000000 B-3 1,417,300.00 ~~989~~988.~~54551612~~87613773 0.~~66937840~~68034996 0.00000000 0.00000000 B-4 944,900.00 ~~989~~988.~~54551804~~87613504 0.~~66938300~~68034713 0.00000000 0.00000000 B-5 708,600.00 ~~989~~988.~~54551228~~87613604 0.~~66937623~~68035563 0.00000000 0.00000000 B-6 708,866.18 ~~989~~988.~~54544566~~87606685 0.~~66937881~~68035408 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 724.~~86698796~~74544469 ~~849~~824.~~06461512~~31917042 0.~~84906462~~82431917 724.~~86698796~~74544469 II-A 0.00000000 022.~~35255963~~45503082 ~~285~~262.~~15656952~~70153870 0.~~28515657~~26270154 022.~~35255963~~45503082 III-A 0.00000000 2153.~~28046245~~63824499 ~~270~~216.~~34769726~~70945227 0.~~27034770~~21670945 2153.~~28046245~~63824499 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~66938024~~68035094 988.~~87613665~~19578359 0.~~98887614~~98819578 0.~~66938024~~68035094 B-2 0.00000000 0.~~66938200~~68034992 988.~~87613583~~19578591 0.~~98887614~~98819579 0.~~66938200~~68034992 B-3 0.00000000 0.~~66937840~~68034996 988.~~87613773~~19578777 0.~~98887614~~98819579 0.~~66937840~~68034996 B-4 0.00000000 0.~~66938300~~68034713 988.~~87613504~~19578791 0.~~98887614~~98819579 0.~~66938300~~68034713 B-5 0.00000000 0.~~66937623~~68035563 988.~~87613604~~19578041 0.~~98887614~~98819578 0.~~66937623~~68035563 B-6 0.00000000 0.~~66937881~~68035408 988.~~87606685~~19571276 0.~~98887607~~98819571 0.~~66937881~~68035408 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 106,205,800.00 2.~~92932~~92923% 9190,~~011~~175,~~106~~586.4570 ~~222~~220,~~166~~120.9676 0.00 0.00 II-A 48,612,400.00 6.~~30242~~24125% 13,~~879~~862,~~283~~145.9922 72,~~894~~097.2259 0.00 0.00 III-A 70,774,500.00 6.~~74511~~75713% 2019,~~639~~133,~~837~~723.1910 ~~116~~107,~~015~~740.0187 0.00 0.00 R-1 50.00 3.~~62103~~62317% 0.00 0.00 0.00 0.00 R-2 50.00 3.~~62103~~62317% 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4.~~83500~~82443% 4,~~675~~671,~~008~~846.8442 18,~~836~~782.4148 0.00 0.00 B-2 2,126,200.00 4.~~83500~~82443% 2,~~103~~102,~~971~~548.6844 8,~~477~~452.2699 0.00 0.00 B-3 1,417,300.00 4.~~83500~~82443% 1,~~402~~401,~~482~~534.8615 5,~~650~~634.8466 0.00 0.00 B-4 944,900.00 4.~~83500~~82443% ~~935~~934,~~021~~389.5606 3,~~767~~756.3657 0.00 0.00 B-5 708,600.00 4.~~83500~~82443% ~~701~~700,~~191~~717.9563 2,~~825~~817.2213 0.00 0.00 B-6 708,866.18 4.~~83500~~82443% ~~701~~700,~~455~~980.3080 2,~~826~~818.2819 0.00 0.00 Totals 236,223,066.18 ~~453~~442,~~459~~221.5624 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A 02,792.0081 0.00 ~~222~~217,~~166~~327.9695 0.00 9087,~~175~~547,~~586~~476.7095 II-A 0914.0075 0.00 7271,~~894~~182.2285 0.00 1312,~~862~~770,~~145~~552.2228 III-A 01,366.0097 0.00 ~~116~~106,~~015~~373.0189 0.00 1915,~~133~~337,~~723~~503.1013 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 B-1 0238.0030 0.00 18,~~836~~544.4117 0.00 4,~~671~~668,~~846~~632.4216 B-2 0107.0025 0.00 8,~~477~~345.2674 0.00 2,~~102~~101,~~548~~101.4488 B-3 071.0049 0.00 5,~~650~~563.8417 0.00 1,~~401~~400,~~534~~569.1589 B-4 047.0066 0.00 3,~~767~~708.3691 0.00 ~~934~~933,~~389~~746.0620 B-5 035.0074 0.00 2,~~825~~781.2239 0.00 700,~~717~~235.6353 B-6 035.0076 0.00 2,~~826~~782.2843 0.00 700,~~980~~498.8052 Totals 05,610.0073 0.00 ~~453~~436,~~459~~610.5650 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 106,205,800.00 2.~~92932~~92923% ~~856~~849.~~93160308~~06461512 2.~~09185336~~07258700 0.00000000 0.00000000 II-A 48,612,400.00 6.~~30242~~24125% 285.~~50912915~~15656952 1.~~49949848~~48311110 0.00000000 0.00000000 III-A 70,774,500.00 6.~~74511~~75713% ~~291~~270.~~62815972~~34769726 1.~~63922048~~52231199 0.00000000 0.00000000 R-1 50.00 3.~~62103~~62317% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 3.~~62103~~62317% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 4.~~83500~~82443% ~~989~~988.~~54551689~~87613665 3.~~98704809~~97563288 0.00000000 0.00000000 B-2 2,126,200.00 4.~~83500~~82443% ~~989~~988.~~54551783~~87613583 3.~~98704731~~97563258 0.00000000 0.00000000 B-3 1,417,300.00 4.~~83500~~82443% ~~989~~988.~~54551612~~87613773 3.~~98704579~~97562972 0.00000000 0.00000000 B-4 944,900.00 4.~~83500~~82443% ~~989~~988.~~54551804~~87613504 3.~~98704625~~97562705 0.00000000 0.00000000 B-5 708,600.00 4.~~83500~~82443% ~~989~~988.~~54551228~~87613604 3.~~98704488~~97562800 0.00000000 0.00000000 B-6 708,866.18 4.~~83500~~82443% ~~989~~988.~~54544566~~87606685 3.~~98704308~~97563049 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.~~00000000~~02629621 0.00000000 2.~~09185336~~04629079 0.00000000 ~~849~~824.~~06461512~~31917042 II-A 0.~~00000000~~01881722 0.00000000 1.~~49949848~~46429409 0.00000000 ~~285~~262.~~15656952~~70153870 III-A 0.~~00000000~~01931444 0.00000000 1.~~63922048~~50299741 0.00000000 ~~270~~216.~~34769726~~70945227 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~00000000~~05044027 0.00000000 3.~~98704809~~92519050 0.00000000 988.~~87613665~~19578359 B-2 0.~~00000000~~05044210 0.00000000 3.~~98704731~~92519048 0.00000000 988.~~87613583~~19578591 B-3 0.~~00000000~~05044098 0.00000000 3.~~98704579~~92518874 0.00000000 988.~~87613773~~19578777 B-4 0.~~00000000~~05043920 0.00000000 3.~~98704625~~92518785 0.00000000 988.~~87613504~~19578791 B-5 0.~~00000000~~05043748 0.00000000 3.~~98704488~~92519052 0.00000000 988.~~87613604~~19578041 B-6 0.~~00000000~~05044676 0.00000000 3.~~98704308~~92518373 0.00000000 988.~~87606685~~19571276 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 27,~~867~~976,~~077~~759.5383 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 515,~~050~~515.0648 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 27,~~872~~992,~~127~~275.5931 Withdrawals Reimbursement for Servicer Advances 145,~~097~~050.2606 Payment of Service Fee 3827,~~682~~459.4778 Payment of Interest and Principal 27,~~819~~959,~~347~~765.8647 Total Withdrawals (Pool Distribution Amount) 27,~~872~~992,~~127~~275.5931 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 421,~~966~~041.7108 Servicing Fee Support 415,~~966~~430.7135 Non-Supported Prepayment/Curtailment Interest Shortfall 05,610.0073

SERVICING FEES Gross Servicing Fee 4241,~~515~~776.4410 Master Servicing Fee 1,~~133~~114.7403 Supported Prepayment/Curtailment Interest Shortfall 415,~~966~~430.7135 Net Servicing Fee 3827,~~682~~459.4778

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 167,600.00 0.00 0.00 167,600.00 30 Days 34 0 0 0 34 12,~~310~~891,~~728~~161.9397 0.00 0.00 0.00 12,~~310~~891,~~728~~161.9397 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 10 0 10 0.00 0.00 ~~123,850~~0.00 0.00 ~~123,850~~0.00 180+ Days 0 1 12 0 23 0.00 139,522.63 ~~163~~287,~~200~~050.00 0.00 ~~302~~426,~~722~~572.63 Totals 34 2 2 0 78 12,~~310~~891,~~728~~161.9397 307,122.63 287,050.00 0.00 13,~~904~~485,~~901~~334.5660 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~275482~~289017% 0.000000% 0.000000% 0.~~275482~~289017% 0.~~125331~~132807% 0.000000% 0.000000% 0.~~125331~~132807% 30 Days 01.~~826446~~156069% 0.000000% 0.000000% 0.000000% 01.~~826446~~156069% 02.~~980157~~290970% 0.000000% 0.000000% 0.000000% 02.~~980157~~290970% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.~~275482~~000000% 0.000000% 0.~~275482~~000000% 0.000000% 0.000000% 0.~~092614~~000000% 0.000000% 0.~~092614~~000000% 180+ Days 0.000000% 0.~~275482~~289017% 0.~~275482~~578035% 0.000000% 0.~~550964~~867052% 0.000000% 0.~~104334~~110558% 0.~~122040~~227460% 0.000000% 0.~~226375~~338018% Totals 01.~~826446~~156069% 0.~~550964~~578035% 0.~~550964~~578035% 0.000000% 12.~~928375~~312139% 02.~~980157~~290970% 0.~~229665~~243365% 0.~~214655~~227460% 0.000000% 12.~~424477~~761795%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 167,600.00 0.00 0.00 167,600.00 30 Days 2 0 0 0 2 1,~~046~~006,~~888~~542.0021 0.00 0.00 0.00 1,~~046~~006,~~888~~542.0021 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 10 0 10 0.00 0.00 ~~123,850~~0.00 0.00 ~~123,850~~0.00 180 Days 0 1 12 0 23 0.00 139,522.63 ~~163~~287,~~200~~050.00 0.00 ~~302~~426,~~722~~572.63 Totals 2 2 2 0 6 1,~~046~~006,~~888~~542.0021 307,122.63 287,050.00 0.00 1,~~641~~600,~~060~~714.6384 0-29 Days 0.~~342466~~352113% 0.000000% 0.000000% 0.~~342466~~352113% 0.~~176087~~181087% 0.000000% 0.000000% 0.~~176087~~181087% 30 Days 0.~~684932~~704225% 0.000000% 0.000000% 0.000000% 0.~~684932~~704225% 1.~~099902~~087543% 0.000000% 0.000000% 0.000000% 1.~~099902~~087543% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.~~342466~~000000% 0.000000% 0.~~342466~~000000% 0.000000% 0.000000% 0.~~130122~~000000% 0.000000% 0.~~130122~~000000% 180 Days 0.000000% 0.~~342466~~352113% 0.~~342466~~704225% 0.000000% 01.~~684932~~056338% 0.000000% 0.~~146588~~150751% 0.~~171464~~310150% 0.000000% 0.~~318052~~460901% Totals 0.~~684932~~704225% 0.~~684932~~704225% 0.~~684932~~704225% 0.000000% 2.~~054795~~112676% 1.~~099902~~087543% 0.~~322675~~331838% 0.~~301586~~310150% 0.000000% 1.~~724164~~729531% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 12 0 0 0 12 ~~263~~1,~~840~~884,619.9376 0.00 0.00 0.00 ~~263~~1,~~840~~884,619.9376 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 12 0 0 0 12 ~~263~~1,~~840~~884,619.9376 0.00 0.00 0.00 ~~263~~1,~~840~~884,619.9376 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 36.~~030303~~666667% 0.000000% 0.000000% 0.000000% 36.~~030303~~666667% 112.~~635838~~534431% 0.000000% 0.000000% 0.000000% 112.~~635838~~534431% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 36.~~030303~~666667% 0.000000% 0.000000% 0.000000% 36.~~030303~~666667% 112.~~635838~~534431% 0.000000% 0.000000% 0.000000% 112.~~635838~~534431% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 515,~~050~~515.0648

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 130,017,266.18 55.04003833% 4338,~~507~~612,~~884~~839.8259 3230.~~54544808~~60616892% 6769.~~454552~~393831% 100.000000% Class R-I 130,017,216.18 55.04001717% 4338,~~507~~612,~~884~~839.8259 3230.~~54544808~~60616892% 0.000000% 0.000000% Class R-II 130,017,166.18 55.03999600% 4338,~~507~~612,~~884~~839.8259 3230.~~54544808~~60616892% 0.000000% 0.000000% Class 2A 81,404,766.18 34.46097263% 2925,~~645~~842,~~739~~287.6031 2220.~~17606953~~48368934% 10.~~369379~~122480% 0.000000% Class 3A 10,630,266.18 4.50009660% 10,~~512~~504,~~016~~784.5018 78.~~86336290~~32653600% 1412.~~312707~~157153% 0.000000% Class B-1 5,905,866.18 2.50012256% 5,~~840~~836,~~170~~152.0802 4.~~36865531~~62598080% 3.~~494708~~700555% 0.000000% Class B-2 3,779,666.18 1.60004111% 3,~~737~~735,~~621~~050.6414 2.~~79587416~~96055863% 1.~~572781~~665422% 0.000000% Class B-3 2,362,366.18 1.00005737% 2,~~336~~334,~~087~~480.4925 1.~~74747668~~85040773% 1.~~048397~~110151% 0.000000% Class B-4 1,417,466.18 0.60005409% 1,~~401~~400,~~698~~734.4305 1.~~04852037~~11028102% 0.~~698956~~740127% 0.000000% Class B-5 708,866.18 0.30008339% 700,~~980~~498.8052 0.~~52435862~~55524474% 0.~~524162~~555036% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~524359~~555245% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~384662~~354567% Weighted Average Net Coupon 43.~~009662~~979567% Weighted Average Pass-Through Rate 3.~~999662~~969567% Weighted Average Maturity(Stepdown Calculation ) ~~298~~297 Beginning Scheduled Collateral Loan Count ~~369~~363 Number Of Loans Paid In Full 617 Ending Scheduled Collateral Loan Count ~~363~~346 Beginning Scheduled Collateral Balance ~~136~~133,~~049~~683,~~359~~471.8252 Ending Scheduled Collateral Balance ~~133~~126,~~683~~160,~~471~~316.5254 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~133~~126,~~726~~198,~~361~~172.9489 Monthly P &I Constant ~~548~~535,~~801~~607.1262 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 27,~~769~~915,~~848~~881.7988 Ending Scheduled Balance for Premium Loans ~~133~~126,~~683~~160,~~471~~316.5254 Scheduled Principal 5150,~~692~~496.3926 Unscheduled Principal 27,~~314~~472,~~195~~658.9172

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage Group 1 94.~~787829~~742075% Senior Percentage Group 2 86.~~044499~~043965% Senior Percentage Group 3 8685.~~346869~~445682% Senior Prep Percentage Group 1 100.000000% Senior Prep Percentage Group 2 100.000000% Senior Prep Percentage Group 3 100.000000% Subordinate Percentage Group 1 5.~~212171~~257925% Subordinate Percentage Group 2 13.~~955501~~956035% Subordinate Percentage Group 3 1314.~~653131~~554318% Subordinate Prep Percentage Group 1 0.000000% Subordinate Prep Percentage Group 2 0.000000% Subordinate Prep Percentage Group 3 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 3.~~314317~~314229 6.~~687419~~626250 7.~~130112~~142129 Weighted Average Net Rate 2.~~939317~~939229 6.~~312419~~251249 6.~~755111~~767129 Weighted Average Maturity ~~274~~273 ~~316~~315 ~~314~~313 Beginning Loan Count ~~295~~292 33 4138 Loans Paid In Full 38 0 3 6 Ending Loan Count ~~292~~284 3330 3832 Beginning Scheduled Balance 9695,~~015~~180,~~604~~084.2247 16,~~130~~110,~~356~~537.0647 2322,~~903~~392,~~399~~849.5458 Ending scheduled Balance 9592,~~180~~551,~~084~~974.4772 1615,~~110~~016,~~537~~213.4769 2218,~~392~~592,~~849~~128.5813 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~265~~262,~~188~~873.4380 ~~109~~108,~~094~~527.6680 ~~174~~164,~~518~~206.0302 Scheduled Principal 0.00 19,~~202~~567.6243 3230,~~489~~928.7783 Unscheduled Principal ~~835~~2,~~519~~628,109.75 ~~615~~1,074,756.9735 13,~~478~~769,~~060~~792.1962 Scheduled Interest ~~265~~262,~~188~~873.4380 8988,~~892~~960.0437 ~~142~~133,~~028~~277.2619 Servicing Fees 3029,~~004~~743.8878 5,~~040~~034.7455 76,~~469~~997.8277 Master Servicing Fees ~~800~~793.1317 134.4226 ~~199~~186.1960 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~234~~232,~~383~~336.4285 8483,~~716~~791.8856 ~~134~~126,~~359~~092.2582 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~929317~~929229 6.~~302419~~241250 6.~~745112~~757129

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 4.~~384662~~354567 Weighted Average Net Rate 43.~~009662~~979567 Weighted Average Maturity ~~298~~297 Beginning Loan Count ~~369~~363 Loans Paid In Full 617 Ending Loan Count ~~363~~346 Beginning Scheduled Balance ~~136~~133,~~049~~683,~~359~~471.8252 Ending scheduled Balance ~~133~~126,~~683~~160,~~471~~316.5254 Record Date 0607/3031/2003 Principal And Interest Constant ~~548~~535,~~801~~607.1262 Scheduled Principal 5150,~~692~~496.3926 Unscheduled Principal 27,~~314~~472,~~195~~658.9172 Scheduled Interest ~~497~~485,~~108~~111.7336 Servicing Fees 4241,~~515~~776.4410 Master Servicing Fees 1,~~133~~114.7403 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~453~~442,~~459~~221.5523 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~999662~~969567

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002-2