8-K 1 bst03004.txt SEPTEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 25, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-32 54-2120395 Pooling and Servicing Agreement) (Commission 54-2120396 (State or other File Number) 54-2120397 jurisdiction IRS EIN 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 September 25, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-4 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 2003-4 Trust, relating to the September 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 2003-4 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: 9/25/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 Trust, relating to the September 25, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 BST Series: 2003-4 Contact: CTSLink Customer Service Wells Fargo Bank Minnesota, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A-1 07384MVM1 SEN 4.~~35320~~35321% 48,~~968~~894,~~470~~488.1535 177,~~641~~330.1408 734,~~981~~319,271.8035 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 7,~~182~~169.0444 0.00 II-A-1 07384MVP4 SEN 4.~~71898~~65602% ~~240~~229,~~314~~052,~~656~~056.7451 ~~945~~888,~~033~~508.4534 1112,~~262~~253,~~600~~060.2377 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 5350,~~269~~760.7580 0.00 III-A-1 07384MVR0 SEN 4.~~99941~~96762% ~~244~~227,~~413~~062,~~176~~304.2571 1939,~~018,268~~735.1461 1712,~~350~~435,~~871~~270.5461 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 4542,~~623~~374.7960 0.00 R-I 07384MVT6 SEN 4.~~53308~~53133% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.~~53308~~53133% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.~~53308~~53133% 0.00 0.00 0.00 B-1 07384MVW9 SUB 5.~~05361~~01074% 5,~~969~~964,~~018~~969.1476 2524,~~137~~901.5532 4,~~048~~041.3821 B-2 07384MVX7 SUB 5.~~05361~~01074% 4,~~547~~544,~~718~~634.7231 1918,~~151~~972.9800 3,~~084~~078.4194 B-3 07384MVY5 SUB 5.~~05361~~01074% 3,~~126~~124,~~718~~598.9126 13,~~167~~043.6793 2,~~120~~116.6488 B-4 07384MVZ2 SUB 5.~~05361~~01074% 1,~~421~~420,~~199~~235.5565 5,~~985~~928.1591 ~~963~~962.9020 B-5 07384MWA6 SUB 5.~~05361~~01074% 852,~~659~~081.8151 3,~~590~~557.8409 ~~578~~577.3028 B-6 07384MWB4 SUB 5.~~05361~~01074% 1,~~137~~136,~~125~~354.4218 4,~~788~~743.82 ~~771~~769.2487 Totals ~~550~~522,~~750~~051,~~743~~723.6924 2,~~318~~177,~~840~~025.3294 2829,~~699~~019,~~020~~149.4411

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 4844,~~894~~575,~~488~~217.3500 ~~251~~4,~~622~~496,601.9443 0.00 I-X-A-1 0.00 0.00 7,~~182~~169.0444 0.00 II-A-1 0.00 ~~229~~216,~~052~~798,~~056~~995.5174 1213,~~207~~141,~~633~~569.6811 0.00 II-X-A-1 0.00 0.00 5350,~~269~~760.7580 0.00 III-A-1 0.00 ~~227~~214,~~062~~627,~~304~~034.7110 1813,~~369~~375,~~139~~006.6822 0.00 III-X-A-1 0.00 0.00 4542,~~623~~374.7960 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 B-1 0.00 5,~~964~~960,~~969~~928.7655 2928,~~185~~942.9353 0.00 B-2 0.00 4,~~544~~541,~~634~~555.3137 22,~~236~~050.3994 0.00 B-3 0.00 3,~~124~~122,~~598~~481.2638 15,~~288~~160.3181 0.00 B-4 0.00 1,~~420~~419,~~235~~273.6545 6,~~949~~891.0511 0.00 B-5 0.00 ~~852~~851,~~081~~504.5123 4,~~169~~134.1437 0.00 B-6 0.00 1,~~136~~135,~~354~~584.1832 5,~~560~~513.0669 0.00 Totals 0.00 ~~522~~493,~~051~~032,~~723~~574.2414 31,~~017~~196,~~860~~175.7605 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-1 50,011,600.00 48,~~968~~894,~~470~~488.1535 56,~~161~~458.8304 174,~~819~~262,813.9731 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 247,776,800.00 ~~240~~229,~~314~~052,~~656~~056.7451 ~~171~~163,~~733~~829.3464 1112,~~090~~089,~~866~~231.8913 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 254,370,500.00 ~~244~~227,~~413~~062,~~176~~304.2571 ~~134~~124,~~614~~218.4299 1712,~~216~~311,~~257~~051.1262 0.00 0.00 III-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5,~~969~~964,~~018~~969.1476 4,~~048~~041.3821 0.00 0.00 0.00 B-2 4,553,800.00 4,~~547~~544,~~718~~634.7231 3,~~084~~078.4194 0.00 0.00 0.00 B-3 3,130,900.00 3,~~126~~124,~~718~~598.9126 2,~~120~~116.6488 0.00 0.00 0.00 B-4 1,423,100.00 1,~~421~~420,~~199~~235.5565 ~~963~~962.9020 0.00 0.00 0.00 B-5 853,800.00 852,~~659~~081.8151 ~~578~~577.3028 0.00 0.00 0.00 B-6 1,138,646.00 1,~~137~~136,~~125~~354.4218 ~~771~~769.2487 0.00 0.00 0.00 Totals 569,236,346.00 ~~550~~522,~~750~~051,~~743~~723.6924 ~~374~~356,~~076~~053.4605 28,~~324~~663,~~943~~096.9806 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-1 734,~~981~~319,271.8035 4844,~~894~~575,~~488~~217.3500 0.~~97766295~~89129756 734,~~981~~319,271.8035 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 1112,~~262~~253,~~600~~060.2377 ~~229~~216,~~052~~798,~~056~~995.5174 0.~~92442899~~87497698 1112,~~262~~253,~~600~~060.2377 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 1712,~~350~~435,~~871~~270.5461 ~~227~~214,~~062~~627,~~304~~034.7110 0.~~89264402~~84375757 1712,~~350~~435,~~871~~270.5461 III-X-A-1 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 B-1 4,~~048~~041.3821 5,~~964~~960,~~969~~928.7655 0.~~99798724~~99731112 4,~~048~~041.3821 B-2 3,~~084~~078.4194 4,~~544~~541,~~634~~555.3137 0.~~99798724~~99731112 3,~~084~~078.4194 B-3 2,~~120~~116.6488 3,~~124~~122,~~598~~481.2638 0.~~99798724~~99731112 2,~~120~~116.6488 B-4 ~~963~~962.9020 1,~~420~~419,~~235~~273.6545 0.~~99798725~~99731112 ~~963~~962.9020 B-5 ~~578~~577.3028 ~~852~~851,~~081~~504.5123 0.~~99798725~~99731112 ~~578~~577.3028 B-6 ~~771~~769.2487 1,~~136~~135,~~354~~584.1832 0.~~99798724~~99731112 ~~771~~769.2487 Totals 2829,~~699~~019,~~020~~149.4411 ~~522~~493,~~051~~032,~~723~~574.2414 0.~~91710891~~86612982 2829,~~699~~019,~~020~~149.4411

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 50,011,600.00 ~~979~~977.~~14224200~~66294920 1.~~12297607~~12889890 085.~~35631673~~23649133 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 ~~969~~924.~~88360791~~42898815 0.~~69309693~~66119847 4448.~~76152283~~79081145 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 ~~960~~892.~~85503724~~64401615 0.~~52920610~~48833882 6748.~~68181499~~39811071 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 ~~998~~997.~~66457085~~98724444 0.~~67732642~~67612682 0.00000000 0.00000000 B-2 4,553,800.00 ~~998~~997.~~66457025~~98724362 0.~~67732663~~67612543 0.00000000 0.00000000 B-3 3,130,900.00 ~~998~~997.~~66457249~~98724328 0.~~67732601~~67612508 0.00000000 0.00000000 B-4 1,423,100.00 ~~998~~997.~~66457030~~98724615 0.~~67732415~~67612958 0.00000000 0.00000000 B-5 853,800.00 ~~998~~997.~~66457016~~98724526 0.~~67732490~~67613024 0.00000000 0.00000000 B-6 1,138,646.00 ~~998~~997.~~66457178~~98724099 0.~~67733079~~67612761 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-1 0.00000000 186.~~47929280~~36539023 ~~977~~891.~~66294920~~29755897 0.~~97766295~~89129756 186.~~47929280~~36539023 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 4549.~~45461976~~45200991 ~~924~~874.~~42898815~~97697823 0.~~92442899~~87497698 4549.~~45461976~~45200991 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 6848.~~21102109~~88644953 ~~892~~843.~~64401615~~75756662 0.~~89264402~~84375757 6848.~~21102109~~88644953 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~67732642~~67612682 997.~~98724444~~31111762 0.~~99798724~~99731112 0.~~67732642~~67612682 B-2 0.00000000 0.~~67732663~~67612543 997.~~98724362~~31111819 0.~~99798724~~99731112 0.~~67732663~~67612543 B-3 0.00000000 0.~~67732601~~67612508 997.~~98724328~~31111821 0.~~99798724~~99731112 0.~~67732601~~67612508 B-4 0.00000000 0.~~67732415~~67612958 997.~~98724615~~31111658 0.~~99798725~~99731112 0.~~67732415~~67612958 B-5 0.00000000 0.~~67732490~~67613024 997.~~98724526~~31111502 0.~~99798725~~99731112 0.~~67732490~~67613024 B-6 0.00000000 0.~~67733079~~67612761 997.~~98724099~~31112216 0.~~99798724~~99731112 0.~~67733079~~67612761 (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-1 50,011,600.00 4.~~35320~~35321% 48,~~968~~894,~~470~~488.1535 177,~~641~~373.1443 0.00 0.00 I-X-A-1 0.00 0.17600% 48,~~968~~894,~~470~~488.1535 7,~~182~~171.0419 0.00 0.00 II-A-1 247,776,800.00 4.~~71898~~65602% ~~240~~229,~~314~~052,~~656~~056.7451 ~~945~~888,~~033~~725.4556 0.00 0.00 II-X-A-1 0.00 0.26600% ~~240~~229,~~314~~052,~~656~~056.7451 5350,~~269~~773.7521 0.00 0.00 III-A-1 254,370,500.00 4.~~99941~~96762% ~~244~~227,~~413~~062,~~176~~304.2571 1939,~~018,268~~965.1434 0.00 0.00 III-X-A-1 0.00 0.22400% ~~244~~227,~~413~~062,~~176~~304.2571 4542,~~623~~384.7996 0.00 0.00 R-I 100.00 4.~~53308~~53133% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~53308~~53133% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~53308~~53133% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5.~~05361~~01074% 5,~~969~~964,~~018~~969.1476 2524,~~137~~907.5541 0.00 0.00 B-2 4,553,800.00 5.~~05361~~01074% 4,~~547~~544,~~718~~634.7231 1918,~~151~~976.9864 0.00 0.00 B-3 3,130,900.00 5.~~05361~~01074% 3,~~126~~124,~~718~~598.9126 13,~~167~~047.6712 0.00 0.00 B-4 1,423,100.00 5.~~05361~~01074% 1,~~421~~420,~~199~~235.5565 5,~~985~~930.1536 0.00 0.00 B-5 853,800.00 5.~~05361~~01074% 852,~~659~~081.8151 3,~~590~~557.8496 0.00 0.00 B-6 1,138,646.00 5.~~05361~~01074% 1,~~137~~136,~~125~~354.4218 4,~~788~~744.8298 0.00 0.00 Totals 569,236,346.00 2,~~318~~177,~~840~~558.3216 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-1 043.0035 0.00 177,~~641~~330.1408 0.00 4844,~~894~~575,~~488~~217.3500 I-X-A-1 01.0075 0.00 7,~~182~~169.0444 0.00 4844,~~894~~575,~~488~~217.3500 II-A-1 0217.0021 0.00 ~~945~~888,~~033~~508.4534 0.00 ~~229~~216,~~052~~798,~~056~~995.5174 II-X-A-1 012.0041 0.00 5350,~~269~~760.7580 0.00 ~~229~~216,~~052~~798,~~056~~995.5174 III-A-1 0229.0074 0.00 1939,~~018,268~~735.1461 0.00 ~~227~~214,~~062~~627,~~304~~034.7110 III-X-A-1 010.0036 0.00 4542,~~623~~374.7960 0.00 ~~227~~214,~~062~~627,~~304~~034.7110 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 B-1 06.0009 0.00 2524,~~137~~901.5532 0.00 5,~~964~~960,~~969~~928.7655 B-2 04.0064 0.00 1918,~~151~~972.9800 0.00 4,~~544~~541,~~634~~555.3137 B-3 03.0019 0.00 13,~~167~~043.6793 0.00 3,~~124~~122,~~598~~481.2638 B-4 01.0045 0.00 5,~~985~~928.1591 0.00 1,~~420~~419,~~235~~273.6545 B-5 0.0087 0.00 3,~~590~~557.8409 0.00 ~~852~~851,~~081~~504.5123 B-6 01.0016 0.00 4,~~788~~743.82 0.00 1,~~136~~135,~~354~~584.1832 Totals 0532.0022 0.00 2,~~318~~177,~~840~~025.3294 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-1 50,011,600.00 4.~~35320~~35321% ~~979~~977.~~14224200~~66294920 3.~~55199874~~54664578 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% ~~979~~977.~~14224200~~66294920 0.~~14360748~~14339053 0.00000000 0.00000000 II-A-1 247,776,800.00 4.~~71898~~65602% ~~969~~924.~~88360791~~42898815 3.~~81405140~~58679893 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% ~~969~~924.~~88360791~~42898815 0.~~21499087~~20491511 0.00000000 0.00000000 III-A-1 254,370,500.00 4.~~99941~~96762% ~~960~~892.~~85503724~~64401615 43.~~00309053~~69526081 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% ~~960~~892.~~85503724~~64401615 0.~~17935960~~16662687 0.00000000 0.00000000 R-I 100.00 4.~~53308~~53133% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~53308~~53133% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~53308~~53133% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 5.~~05361~~01074% ~~998~~997.~~66457085~~98724444 4.~~20571357~~16720930 0.00000000 0.00000000 B-2 4,553,800.00 5.~~05361~~01074% ~~998~~997.~~66457025~~98724362 4.~~20571391~~16720980 0.00000000 0.00000000 B-3 3,130,900.00 5.~~05361~~01074% ~~998~~997.~~66457249~~98724328 4.~~20571401~~16721071 0.00000000 0.00000000 B-4 1,423,100.00 5.~~05361~~01074% ~~998~~997.~~66457030~~98724615 4.~~20571288~~16721242 0.00000000 0.00000000 B-5 853,800.00 5.~~05361~~01074% ~~998~~997.~~66457016~~98724526 4.~~20571562~~16720543 0.00000000 0.00000000 B-6 1,138,646.00 5.~~05361~~01074% ~~998~~997.~~66457178~~98724099 4.~~20571451~~16721264 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-1 0.~~00000000~~00086680 0.00000000 3.~~55199874~~54577898 0.00000000 ~~977~~891.~~66294920~~29755897 I-X-A-1 0.~~00000000~~00003499 0.00000000 0.~~14360748~~14335554 0.00000000 ~~977~~891.~~66294920~~29755897 II-A-1 0.~~00000000~~00087664 0.00000000 3.~~81405140~~58592225 0.00000000 ~~924~~874.~~42898815~~97697823 II-X-A-1 0.~~00000000~~00005009 0.00000000 0.~~21499087~~20486502 0.00000000 ~~924~~874.~~42898815~~97697823 III-A-1 0.~~00000000~~00090317 0.00000000 43.~~00309053~~69435768 0.00000000 ~~892~~843.~~64401615~~75756662 III-X-A-1 0.~~00000000~~00004073 0.00000000 0.~~17935960~~16658614 0.00000000 ~~892~~843.~~64401615~~75756662 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~00000000~~00101891 0.00000000 4.~~20571357~~16619040 0.00000000 997.~~98724444~~31111762 B-2 0.~~00000000~~00101893 0.00000000 4.~~20571391~~16619087 0.00000000 997.~~98724362~~31111819 B-3 0.~~00000000~~00101888 0.00000000 4.~~20571401~~16619183 0.00000000 997.~~98724328~~31111821 B-4 0.~~00000000~~00101890 0.00000000 4.~~20571288~~16619352 0.00000000 997.~~98724615~~31111658 B-5 0.~~00000000~~00101897 0.00000000 4.~~20571562~~16618646 0.00000000 997.~~98724526~~31111502 B-6 0.~~00000000~~00101875 0.00000000 4.~~20571451~~16619388 0.00000000 997.~~98724099~~31112216 (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 31,~~067~~305,~~041~~624.5730 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 822,~~551~~118.8991 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 31,~~075~~327,~~593~~743.4621 Withdrawals Reimbursement for Servicer Advances 08,551.0089 Payment of Service Fee 57123,~~732~~016.6928 Payment of Interest and Principal 31,~~017~~196,~~860~~175.7704 Total Withdrawals (Pool Distribution Amount) 31,~~075~~327,~~593~~743.4621 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~71,388~~532.7621 Servicing Fee Support ~~71,388~~0.7600 Non-Supported Prepayment/Curtailment Interest Shortfall 0532.0022

SERVICING FEES Gross Servicing Fee ~~128~~122,~~630~~525.1646 Miscellaneous Fee ~~491~~490.2982 Supported Prepayment/Curtailment Interest Shortfall ~~71,388~~0.7600 Net Servicing Fee 57123,~~732~~016.6928

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 49 0 0 0 49 14,~~826~~654,~~522~~477.6687 0.00 0.00 0.00 14,~~826~~654,~~522~~477.6687 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 49 0 0 0 49 14,~~826~~654,~~522~~477.6687 0.00 0.00 0.00 14,~~826~~654,~~522~~477.6687 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~364964~~862069% 0.000000% 0.000000% 0.000000% 0.~~364964~~862069% 0.~~349686~~943561% 0.000000% 0.000000% 0.000000% 0.~~349686~~943561% 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.~~364964~~862069% 0.000000% 0.000000% 0.000000% 0.~~364964~~862069% 0.~~349686~~943561% 0.000000% 0.000000% 0.000000% 0.~~349686~~943561%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 32 0 0 0 32 1770,~~617,722~~397.3575 0.00 0.00 0.00 1770,~~617,722~~397.3575 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 32 0 0 0 32 1770,~~617,722~~397.3575 0.00 0.00 0.00 1770,~~617,722~~397.3575 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~542373~~834862% 0.000000% 0.000000% 0.000000% 21.~~542373~~834862% 31.~~204587~~669141% 0.000000% 0.000000% 0.000000% 31.~~204587~~669141% 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 21.~~542373~~834862% 0.000000% 0.000000% 0.000000% 21.~~542373~~834862% 31.~~204587~~669141% 0.000000% 0.000000% 0.000000% 31.~~204587~~669141% 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 13 0 0 0 13 ~~208~~1,~~800~~881,705.3152 0.00 0.00 0.00 ~~208~~1,~~800~~881,705.3152 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 13 0 0 0 13 ~~208~~1,~~800~~881,705.3152 0.00 0.00 0.00 ~~208~~1,~~800~~881,705.3152 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~200401~~628931% 0.000000% 0.000000% 0.000000% 0.~~200401~~628931% 0.~~088165~~837938% 0.000000% 0.000000% 0.000000% 0.~~088165~~837938% 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.~~200401~~628931% 0.000000% 0.000000% 0.000000% 0.~~200401~~628931% 0.~~088165~~837938% 0.000000% 0.000000% 0.000000% 0.~~088165~~837938% 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 04 0 0 0 04 02,002,374.0060 0.00 0.00 0.00 02,002,374.0060 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 04 0 0 0 04 02,002,374.0060 0.00 0.00 0.00 02,002,374.0060 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~873362% 0.000000% 0.000000% 0.000000% 0.~~000000~~873362% 0.~~000000~~899663% 0.000000% 0.000000% 0.000000% 0.~~000000~~899663% 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~~873362% 0.000000% 0.000000% 0.000000% 0.~~000000~~873362% 0.~~000000~~899663% 0.000000% 0.000000% 0.000000% 0.~~000000~~899663%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 822,~~551~~118.8991

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% ~~473~~448,~~157~~457,~~234~~357.8914 90.~~63416777~~95897116% 96.~~735405~~545598% 0.000000% Class R-I 519,224,646.00 91.21424689% ~~473~~448,~~157~~457,~~234~~357.8914 90.~~63416777~~95897116% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% ~~473~~448,~~157~~457,~~234~~357.8914 90.~~63416777~~95897116% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% ~~473~~448,~~157~~457,~~234~~357.8914 90.~~63416777~~95897116% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% ~~244~~231,~~105~~658,~~178~~361.3840 46.~~75881094~~98642107% 43.~~875357~~972550% 1,~~343~~272.~~975558~~942454% Class B-1 11,100,246.00 1.95002411% 11,~~077~~070,~~903~~398.9175 2.~~12199355~~24536863% 1.~~142601~~209033% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,~~533~~528,~~269~~843.6038 1.~~25146021~~32422151% 0.~~870533~~921147% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,~~408~~406,~~671~~362.3400 0.~~65293747~~69089999% 0.~~598523~~633322% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,~~988~~987,~~435~~088.6955 0.~~38088864~~40303393% 0.~~272049~~287866% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,~~136~~135,~~354~~584.1832 0.~~21767080~~23032643% 0.~~163218~~172707% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~217671~~230326% 6.667621% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~333727~~288153% Weighted Average Net Coupon 5.~~053462~~006513% Weighted Average Pass-Through Rate 5.~~052391~~005385% Weighted Average Maturity(Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 1,~~149~~096 Number Of Loans Paid In Full 5352 Ending Scheduled Collateral Loan Count 1,~~096~~044 Beginning Scheduled Collateral Balance ~~550~~522,~~750~~051,~~743~~723.9247 Ending Scheduled Collateral Balance ~~522~~493,~~051~~032,~~723~~574.4737 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~522~~493,~~332~~288,~~062~~651.8106 Monthly P &I Constant 2,~~822~~673,~~107~~771.1811 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 3031,~~934~~113,~~471~~996.8842 Ending Scheduled Balance for Premium Loans ~~522~~493,~~051~~032,~~723~~574.4737 Scheduled Principal ~~374~~356,~~076~~053.4704 Unscheduled Principal 28,~~324~~663,~~943~~096.9806

Miscellaneous Reporting Senior Percentage Group 1 96.~~944687~~943607% Senior Percentage Group 2 96.~~913945~~769344% Senior Percentage Group 3 96.~~884810~~656509% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Subordinate Percentage Group 1 3.~~055313~~056393% Subordinate Percentage Group 2 3.~~086055~~230656% Subordinate Percentage Group 3 3.~~115190~~343491% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~877690~~877711 5.~~263755~~201588 5.~~493816~~463495 Weighted Average Net Rate 4.~~529196~~529213 4.~~987165~~924305 5.~~223600~~191820 Weighted Average Maturity ~~357~~356 356 357 ~~358~~ Beginning Loan Count 118 ~~521~~499 ~~510~~479 Loans Paid In Full 09 22 3121 Ending Loan Count ~~118~~109 ~~499~~477 ~~479~~458 Beginning Scheduled Balance 50,~~511~~436,~~762~~010.7797 ~~247~~236,~~967~~698,~~056~~987.0628 ~~252~~234,~~271~~916,~~925~~725.0922 Ending scheduled Balance 5046,~~436~~114,~~010~~959.9764 ~~236~~224,~~698~~440,~~987~~457.2804 ~~234~~222,~~916~~477,~~725~~157.2269 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant 263,~~249~~248.0827 1,~~264~~206,~~969~~371.0684 1,~~293~~204,~~889~~151.0400 Scheduled Principal 5758,~~931~~238.8302 ~~177~~169,~~201~~299.8911 ~~138~~128,~~942~~515.7591 Unscheduled Principal 174,~~819~~262,813.9731 1112,~~090~~089,~~866~~231.8913 1712,~~216~~311,~~257~~051.1262 Scheduled Interest 205,~~317~~010.25 1,~~087~~026,~~698~~008.2091 1,~~154~~069,~~946~~555.2928 Servicing Fees 14,~~669~~647.1739 5754,~~154~~693.3991 5653,~~806~~184.6016 Master Servicing Fees 0.00 0.00 0.00 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 ~~451~~450.4194 39.88 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 190,~~648~~362.0886 1970,~~030,092~~864.4006 1,~~098~~016,~~099~~331.8124 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 4.~~529197~~529213 4.~~984980~~922019 5.~~223410~~191616

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.~~333727~~288153 Weighted Average Net Rate 5.~~053462~~006513 Weighted Average Maturity ~~356~~355 Beginning Loan Count 1,~~149~~096 Loans Paid In Full 5352 Ending Loan Count 1,~~096~~044 Beginning Scheduled Balance ~~550~~522,~~750~~051,~~743~~723.9247 Ending scheduled Balance ~~522~~493,~~051~~032,~~723~~574.4737 Record Date 0708/31/2003 Principal And Interest Constant 2,~~822~~673,~~107~~771.1811 Scheduled Principal ~~374~~356,~~076~~053.4704 Unscheduled Principal 28,~~324~~663,~~943~~096.9806 Scheduled Interest 2,~~447~~300,~~961~~574.7444 Servicing Fees ~~128~~122,~~630~~525.1646 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~491~~490.2982 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 2,~~318~~177,~~840~~558.2916 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 5.~~052391~~005385

Filing Compare · BEAR STEARNS ARM TRUST 2003-4