8-K 1 bsa03002.txt SEPTEMBER 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): September 25, 2003 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-05 54-2121829 Pooling and Servicing Agreement) (Commission 54-2121830 (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 September 25, 2003 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-2 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 Asset-Backed Certificates, Series 2003-2 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 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: 9/25/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-2 Trust, relating to the September 25, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 BSA Series: 2003-2 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 A-1 07384YJN7 SEN 1.~~50000~~51000% ~~191~~182,~~623~~758,~~035~~944.3173 ~~247~~237,~~513~~637.0939 810,~~864~~761,~~090~~887.5828 A-2 07384YJP2 SEN 1.~~55000~~56000% ~~210~~198,~~797~~816,~~561~~774.0197 ~~281~~267,~~356~~077.1920 119,~~980~~902,~~786~~775.0403 A-3 07384YJQ0 SEN 1.~~85000~~86000% 28,579,000.00 45,~~527~~774.9303 0.00 A-IO 07384YJT4 IO 5.00000% 0.00 215,416.67 0.00 M-1 07384YJU1 MEZ 2.~~30000~~31000% 25,851,000.00 51,~~199~~421.3495 0.00 M-2 07384YJV9 MEZ 3.~~10000~~11000% 23,265,000.00 62,~~104~~304.6396 0.00 B 07384YJW7 SUB 4.~~60000~~61000% 20,680,000.00 8182,~~915~~093.7886 0.00 B-IO BSA032BIO IO 0.00000% 0.00 0.00 0.00 R-1 BSA0302R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA0302R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA0302R3 RES 0.00000% 0.00 0.00 0.00 OC BSA0302OC OC 0.00000% ~~567~~2,066,149.9486 0.00 0.00 Totals ~~500~~482,~~796~~016,~~164~~869.2656 ~~985~~961,~~033~~726.6306 20,~~844~~664,~~876~~662.6231

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~182~~171,~~758~~997,~~944~~057.7346 910,~~111~~999,~~603~~524.67 0.00 A-2 0.00 ~~198~~188,~~816~~913,~~774~~999.9794 1210,~~262~~169,~~142~~852.23 0.00 A-3 0.00 28,579,000.00 45,~~527~~774.9303 0.00 A-IO 0.00 0.00 215,416.67 0.00 M-1 0.00 25,851,000.00 51,~~199~~421.3495 0.00 M-2 0.00 23,265,000.00 62,~~104~~304.6396 0.00 B 0.00 20,680,000.00 8182,~~915~~093.7886 0.00 B-IO 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 OC 0.00 23,~~066~~926,~~149~~725.8607 0.00 0.00 Totals 0.00 ~~482~~463,~~016~~212,~~869~~782.5647 21,~~829~~626,~~910~~388.2537 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) A-1 200,005,000.00 ~~191~~182,~~623~~758,~~035~~944.3173 0.00 810,~~864~~761,~~090~~887.5828 0.00 0.00 A-2 218,628,000.00 ~~210~~198,~~797~~816,~~561~~774.0197 0.00 119,~~980~~902,~~786~~775.0403 0.00 0.00 A-3 28,579,000.00 28,579,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 25,851,000.00 25,851,000.00 0.00 0.00 0.00 0.00 M-2 23,265,000.00 23,265,000.00 0.00 0.00 0.00 0.00 B 20,680,000.00 20,680,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 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 R-3 50.00 0.00 0.00 0.00 0.00 0.00 OC 569.35 ~~567~~2,066,149.9486 0.00 0.00 0.00 0.00 Totals 517,008,719.35 ~~500~~482,~~796~~016,~~164~~869.2656 0.00 20,~~844~~664,~~876~~662.6231 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 A-1 810,~~864~~761,~~090~~887.5828 ~~182~~171,~~758~~997,~~944~~057.7346 0.~~91377188~~85996379 810,~~864~~761,~~090~~887.5828 A-2 119,~~980~~902,~~786~~775.0403 ~~198~~188,~~816~~913,~~774~~999.9794 0.~~90938386~~86408877 119,~~980~~902,~~786~~775.0403 A-3 0.00 28,579,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 25,851,000.00 1.00000000 0.00 M-2 0.00 23,265,000.00 1.00000000 0.00 B 0.00 20,680,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 OC 0.00 23,~~066~~926,~~149~~725.8607 36,~~628~~896.~~96260648~~85618688 0.00 Totals 20,~~844~~664,~~876~~662.6231 ~~482~~463,~~016~~212,~~869~~782.5647 0.~~93231865~~89594772 20,~~844~~664,~~876~~662.6231

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 200,005,000.00 ~~958~~913.~~09122427~~77187935 0.00000000 4453.~~31934492~~80809120 0.00000000 A-2 218,628,000.00 ~~964~~909.~~18373223~~38386195 0.00000000 5445.~~79987028~~29509043 0.00000000 A-3 28,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 25,851,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 23,265,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 20,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 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 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 ~~997~~3628962.~~52349170~~60648107 0.00000000 0.00000000 0.00000000 All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 4453.~~31934492~~80809120 ~~913~~859.~~77187935~~96378821 0.~~91377188~~85996379 4453.~~31934492~~80809120 A-2 0.00000000 5445.~~79987028~~29509043 ~~909~~864.~~38386195~~08877152 0.~~90938386~~86408877 5445.~~79987028~~29509043 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 36,~~628~~896,~~962~~856.~~60648107~~18687977 ~~3628~~6896.~~96260648~~85618688 0.00000000 (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 A-1 200,005,000.00 1.~~50000~~51000% ~~191~~182,~~623~~758,~~035~~944.3173 ~~247~~237,~~513~~637.0939 0.00 0.00 A-2 218,628,000.00 1.~~55000~~56000% ~~210~~198,~~797~~816,~~561~~774.0197 ~~281~~267,~~356~~077.1920 0.00 0.00 A-3 28,579,000.00 1.~~85000~~86000% 28,579,000.00 45,~~527~~774.9303 0.00 0.00 A-IO 0.00 5.00000% 51,700,000.00 215,416.67 0.00 0.00 M-1 25,851,000.00 2.~~30000~~31000% 25,851,000.00 51,~~199~~421.3495 0.00 0.00 M-2 23,265,000.00 3.~~10000~~11000% 23,265,000.00 62,~~104~~304.6396 0.00 0.00 B 20,680,000.00 4.~~60000~~61000% 20,680,000.00 8182,~~915~~093.7886 0.00 0.00 B-IO 0.00 0.00000% ~~500~~482,~~796~~016,~~164~~869.2656 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 OC 569.35 0.00000% ~~567~~2,066,149.9486 0.00 0.00 0.00 Totals 517,008,719.35 ~~985~~961,~~033~~726.6306 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 A-1 0.00 0.00 ~~247~~237,~~513~~637.0939 0.00 ~~182~~171,~~758~~997,~~944~~057.7346 A-2 0.00 0.00 ~~281~~267,~~356~~077.1920 0.00 ~~198~~188,~~816~~913,~~774~~999.9794 A-3 0.00 0.00 45,~~527~~774.9303 0.00 28,579,000.00 A-IO 0.00 0.00 215,416.67 0.00 51,700,000.00 M-1 0.00 0.00 51,~~199~~421.3495 0.00 25,851,000.00 M-2 0.00 0.00 62,~~104~~304.6396 0.00 23,265,000.00 B 0.00 0.00 8182,~~915~~093.7886 0.00 20,680,000.00 B-IO 0.00 0.00 0.00 0.00 ~~482~~463,~~016~~212,~~869~~782.5647 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 23,~~066~~926,~~149~~725.8607 Totals 0.00 0.00 ~~985~~961,~~033~~726.6306 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 A-1 200,005,000.00 1.~~50000~~51000% ~~958~~913.~~09122427~~77187935 1.~~23753451~~18815725 0.00000000 0.00000000 A-2 218,628,000.00 1.~~55000~~56000% ~~964~~909.~~18373223~~38386195 1.~~28691746~~22160565 0.00000000 0.00000000 A-3 28,579,000.00 1.~~85000~~86000% 1000.00000000 1.~~59305539~~60166661 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666673 0.00000000 0.00000000 M-1 25,851,000.00 2.~~30000~~31000% 1000.00000000 1.~~98055549~~98916676 0.00000000 0.00000000 M-2 23,265,000.00 3.~~10000~~11000% 1000.00000000 2.~~66944466~~67805545 0.00000000 0.00000000 B 20,680,000.00 4.~~60000~~61000% 1000.00000000 3.~~96111122~~96972244 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~968~~932.~~64190257~~31891720 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 0.00000% ~~997~~3628962.~~52349170~~60648107 0.00000000 0.00000000 0.00000000 All Classes are per $1,000 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 A-1 0.00000000 0.00000000 1.~~23753451~~18815725 0.00000000 ~~913~~859.~~77187935~~96378821 A-2 0.00000000 0.00000000 1.~~28691746~~22160565 0.00000000 ~~909~~864.~~38386195~~08877152 A-3 0.00000000 0.00000000 1.~~59305539~~60166661 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.16666673 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~98055549~~98916676 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~66944466~~67805545 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~96111122~~96972244 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 ~~932~~895.~~31891720~~94797829 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~3628962~~6896856.~~60648107~~18687977 (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 21,~~998~~902,~~867~~982.4231 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~437~~468,~~907~~549.8636 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(122,355.0025) Prepayment Penalties 0.00 Total Deposits 22,~~436~~249,~~775~~176.2842 Withdrawals Reimbursement for Servicer Advances ~~415~~437,~~144~~907.8486 Payment of Service Fee ~~191~~184,~~720~~880.19 Payment of Interest and Principal 21,~~829~~626,~~910~~388.2537 Total Withdrawals (Pool Distribution Amount) 22,~~436~~249,~~775~~176.2842 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~187~~180,~~546~~863.9040 Master Servicing Fee 4,~~173~~016.2979 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~191~~184,~~720~~880.19

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 64 0 0 64 ~~864~~571,~~073~~383.0649 0.00 0.00 ~~864~~571,~~073~~383.0649 30 Days ~~291~~273 02 0 0 ~~291~~275 2829,~~165~~195,~~951~~549.6720 0292,317.0063 0.00 0.00 2829,~~165~~487,~~951~~866.6783 60 Days ~~128~~118 1 30 0 ~~132~~119 1512,~~486~~859,~~162~~077.4742 62,~~907~~842.7281 ~~543,840~~0.3400 0.00 1612,~~092~~921,~~910~~920.5323 90 Days 5467 1 8 0 6376 68,~~708~~596,~~601~~612.0591 99,~~642~~569.4858 ~~944~~981,~~512~~712.9579 0.00 79,~~752~~677,~~756~~895.4828 120 Days 3935 10 48 0 4443 45,~~123~~115,~~787~~527.9465 ~~81,286~~0.5600 ~~359~~927,~~148~~955.4206 0.00 46,~~564~~043,~~222~~482.9271 150 Days 123 02 03 0 128 652,~~834~~264,641.6040 0150,900.0040 0289,534.0058 0.00 652,~~834~~705,076.6038 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~513~~516 910 1519 0 ~~537~~545 5458,~~550~~031,~~337~~408.7358 1,~~107~~177,~~909~~013.8291 12,~~847~~199,~~501~~202.7143 0.00 5761,~~505~~407,~~749~~624.2692 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.~~129506~~088652% 0.000000% 0.000000% 0.~~129506~~088652% 0.~~178922~~123119% 0.000000% 0.000000% 0.~~178922~~123119% 30 Days 6.~~281027~~050532% 0.~~000000~~044326% 0.000000% 0.000000% 6.~~281027~~094858% 56.~~832271~~290933% 0.~~000000~~062987% 0.000000% 0.000000% 56.~~832271~~353920% 60 Days 2.~~762789~~615248% 0.~~021584~~022163% 0.~~064753~~000000% 0.000000% 2.~~849126~~637411% 32.~~206691~~770819% 0.~~013026~~013541% 0.~~112612~~000000% 0.000000% 32.~~332329~~784360% 90 Days 1.~~165551~~484929% 0.~~021584~~022163% 0.~~172674~~177305% 0.000000% 1.~~359810~~684397% 1.~~389138~~852362% 0.~~020633~~021455% 0.~~195579~~211535% 0.000000% 12.~~605349~~085352% 120 Days 0.~~841787~~775709% 0.~~021584~~000000% 0.~~086337~~177305% 0.000000% 0.~~949709~~953014% 01.~~853905~~102272% 0.~~016832~~000000% 0.~~074368~~199952% 0.000000% 01.~~945105~~302224% 150 Days 0.~~021584~~509752% 0.~~000000~~044326% 0.~~000000~~066489% 0.000000% 0.~~021584~~620567% 0.~~013632~~487975% 0.~~000000~~032515% 0.~~000000~~062388% 0.000000% 0.~~013632~~582878% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 11.~~072739~~436170% 0.~~194259~~221631% 0.~~323764~~421099% 0.000000% 1112.~~590762~~078901% 1112.~~295637~~504361% 0.~~229413~~253618% 0.~~382559~~473875% 0.000000% 1113.~~907609~~231853%

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 31 0 0 31 ~~318~~26,~~787~~402.8301 0.00 0.00 ~~318~~26,~~787~~402.8301 30 Days 2523 02 0 0 25 12,~~925~~322,~~628~~323.3721 0292,317.0063 0.00 0.00 12,~~925~~614,~~628~~640.3784 60 Days 158 1 0 0 169 1954,~~904,410~~476.4884 62,~~907~~842.7281 0.00 0.00 1,~~967~~017,~~318~~319.2065 90 Days 73 0 2 0 95 ~~485~~406,~~827~~762.7578 0.00 ~~182~~166,~~662~~882.4924 0.00 ~~668~~573,~~490~~645.2402 120 Days 36 0 13 0 49 ~~496~~400,~~398~~250.5469 0.00 ~~110~~265,~~121~~877.3283 0.00 ~~606~~666,~~519~~128.8652 150 Days 02 0 01 0 03 0451,159.0090 0.00 0110,121.0032 0.00 0561,281.0022 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5042 4 36 0 5752 4,~~812~~534,~~265~~973.1442 381,~~695~~562.5545 ~~292~~542,~~783~~881.8139 0.00 5,~~486~~459,~~744~~417.5026 0-29 Days 0.~~668151~~235294% 0.000000% 0.000000% 0.~~668151~~235294% 0.~~473342~~042823% 0.000000% 0.000000% 0.~~473342~~042823% 30 Days 5.~~567929~~411765% 0.~~000000~~470588% 0.000000% 0.000000% 5.~~567929~~882353% 23.~~859208~~766720% 0.~~000000~~474128% 0.000000% 0.000000% 24.~~859208~~240848% 60 Days 31.~~340757~~882353% 0.~~222717~~235294% 0.000000% 0.000000% 32.~~563474~~117647% 21.~~827703~~548125% 0.~~093407~~101929% 0.000000% 0.000000% 21.~~921110~~650054% 90 Days 10.~~559020~~705882% 0.000000% 0.~~445434~~470588% 0.000000% 21.~~004454~~176471% 0.~~721366~~659754% 0.000000% 0.~~271221~~270677% 0.000000% 0.~~992587~~930430% 120 Days 01.~~668151~~411765% 0.000000% 0.~~222717~~705882% 0.000000% 02.~~890869~~117647% 0.~~737062~~649191% 0.000000% 0.~~163510~~431244% 0.000000% 01.~~900572~~080435% 150 Days 0.~~000000~~470588% 0.000000% 0.~~000000~~235294% 0.000000% 0.~~000000~~705882% 0.~~000000~~731764% 0.000000% 0.~~000000~~178613% 0.000000% 0.~~000000~~910377% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 119.~~135857~~882353% 0.~~890869~~941176% 01.~~668151~~411765% 0.000000% 12.~~694878~~235294% 7.~~145339~~355554% 0.~~566749~~618880% 0.~~434731~~880533% 0.000000% 8.~~146818~~854967% 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 1 0 0 1 313,~~633~~475.5144 0.00 0.00 313,~~633~~475.5144 30 Days ~~112~~81 0 0 0 ~~112~~81 14,~~691~~038,~~574~~944.5501 0.00 0.00 0.00 14,~~691~~038,~~574~~944.5501 60 Days 3451 0 30 0 3751 7,~~322~~414,~~809~~290.3598 0.00 ~~543,840~~0.3400 0.00 7,~~866~~414,~~649~~290.6998 90 Days 2119 1 43 0 2623 4,~~421~~891,~~328~~758.0237 99,~~642~~569.4858 ~~448~~543,~~454~~840.3334 0.00 45,~~969~~535,~~424~~168.8329 120 Days 1316 1 0 3 0 1419 23,~~131~~666,~~901~~092.1699 ~~81,286.56~~ 0.00 348,681.10 0.00 24,~~213~~014,~~187~~774.7209 150 Days 09 01 0 0 010 01,140,167.0069 081,286.0056 0.00 0.00 01,221,454.0025 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~180~~176 3 76 0 ~~190~~185 2831,~~567~~151,~~613~~254.0804 494,~~562~~331.5558 ~~992~~892,~~294~~521.6744 0.00 3032,~~054~~538,~~470~~107.3006 0-29 Days 0.~~092764~~094877% 0.000000% 0.000000% 0.~~092764~~094877% 0.~~211991~~217860% 0.000000% 0.000000% 0.~~211991~~217860% 30 Days 107.~~389610~~685009% 0.000000% 0.000000% 0.000000% 107.~~389610~~685009% 9.~~930303~~756833% 0.000000% 0.000000% 0.000000% 9.~~930303~~756833% 60 Days 34.~~153989~~838710% 0.000000% 0.~~278293~~000000% 0.000000% 34.~~432282~~838710% 45.~~949620~~152809% 0.000000% 0.~~367592~~000000% 0.000000% 5.~~317212~~152809% 90 Days 1.~~948052~~802657% 0.~~092764~~094877% 0.~~371058~~284630% 0.000000% 2.~~411874~~182163% 23.~~988456~~399691% 0.~~067350~~069199% 0.~~303118~~377960% 0.000000% 3.~~358925~~846850% 120 Days 1.~~205937~~518027% 0.~~092764~~000000% 0.~~000000~~284630% 0.000000% 1.~~298701~~802657% 12.~~440991~~547874% 0.~~054943~~000000% 0.~~000000~~242328% 0.000000% 12.~~495934~~790201% 150 Days 0.~~000000~~853890% 0.~~000000~~094877% 0.000000% 0.000000% 0.~~000000~~948767% 0.~~000000~~792398% 0.~~000000~~056493% 0.000000% 0.000000% 0.~~000000~~848890% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 16.~~697588~~698292% 0.~~278293~~284630% 0.~~649351~~569260% 0.000000% 17.~~625232~~552182% 1921.~~309369~~649604% 0.~~334284~~343552% 0.~~670710~~620288% 0.000000% 2022.~~314363~~613444% 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 2 0 0 2 231,~~651~~506.7204 0.00 0.00 231,~~651~~506.7204 30 Days ~~132~~154 0 0 0 ~~132~~154 1012,~~502~~169,~~158~~060.7415 0.00 0.00 0.00 1012,~~502~~169,~~158~~060.7415 60 Days 7050 0 0 0 7050 53,~~822~~999,~~419~~594.4267 0.00 0.00 0.00 53,~~822~~999,~~419~~594.4267 90 Days 2240 0 23 0 2443 13,~~617~~064,~~054~~863.4760 0.00 ~~313~~270,~~396~~990.1321 0.00 13,~~930~~335,~~450~~853.6081 120 Days 2210 0 32 0 2512 1934,~~445,659~~240.6866 0.00 ~~249~~313,~~027~~396.1013 0.00 1,~~694~~247,~~686~~636.7879 150 Days 11 1 02 0 014 ~~1 65~~623,~~834~~620.6011 069,613.0084 0179,413.0026 0.00 65872,~~834~~647.6021 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~247~~265 23 57 0 ~~254~~275 1920,~~453~~791,~~126~~379.9119 ~~231~~301,~~651~~119.7288 ~~562~~763,~~423~~799.2360 0.00 2021,~~247~~856,~~201~~298.8667 0-29 Days 0.~~071788~~073638% 0.000000% 0.000000% 0.~~071788~~073638% 0.~~092047~~095307% 0.000000% 0.000000% 0.~~092047~~095307% 30 Days 45.~~737976~~670103% 0.000000% 0.000000% 0.000000% 45.~~737976~~670103% 45.~~173052~~009794% 0.000000% 0.000000% 0.000000% 45.~~173052~~009794% 60 Days 21.~~512563~~840943% 0.000000% 0.000000% 0.000000% 21.~~512563~~840943% 21.~~313549~~646565% 0.000000% 0.000000% 0.000000% 21.~~313549~~646565% 90 Days 01.~~789663~~472754% 0.000000% 0.~~071788~~110457% 0.000000% 01.~~861450~~583211% 01.~~642540~~261752% 0.000000% 0.~~124529~~111562% 0.000000% 01.~~767068~~373314% 120 Days 0.~~789663~~368189% 0.000000% 0.~~107681~~073638% 0.000000% 0.~~897344~~441826% 0.~~574436~~384611% 0.000000% 0.~~098951~~129020% 0.000000% 0.~~673387~~513631% 150 Days 0.~~035894~~405007% 0.~~000000~~036819% 0.~~000000~~073638% 0.000000% 0.~~035894~~515464% 0.~~026160~~256734% 0.~~000000~~028659% 0.~~000000~~073861% 0.000000% 0.~~026160~~359254% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 89.~~865757~~756996% 0.~~071788~~110457% 0.~~179469~~257732% 0.000000% 910.~~117014~~125184% 78.~~729736~~559455% 0.~~092047~~123966% 0.~~223480~~314443% 0.000000% 8.~~045263~~997864% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 2215 0 0 0 2215 1665,~~046,590~~221.0183 0.00 0.00 0.00 1665,~~046,590~~221.0183 60 Days 9 0 0 0 9 ~~436~~490,~~523~~714.2293 0.00 0.00 0.00 ~~436~~490,~~523~~714.2293 90 Days 45 0 0 0 45 ~~184~~233,~~390~~228.8116 0.00 0.00 0.00 ~~184~~233,~~390~~228.8116 120 Days 13 0 0 0 13 49114,~~828~~943.5631 0.00 0.00 0.00 49114,~~828~~943.5631 150 Days 01 0 0 0 01 049,693.0070 0.00 0.00 0.00 049,693.0070 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3633 0 0 0 3633 1,~~717~~553,~~332~~801.6093 0.00 0.00 0.00 1,~~717~~553,~~332~~801.6093 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 64.~~875000~~731861% 0.000000% 0.000000% 0.000000% 64.~~875000~~731861% 64.~~552869~~252822% 0.000000% 0.000000% 0.000000% 64.~~552869~~252822% 60 Days 2.~~812500~~839117% 0.000000% 0.000000% 0.000000% 2.~~812500~~839117% 23.~~733142~~137184% 0.000000% 0.000000% 0.000000% 23.~~733142~~137184% 90 Days 1.~~250000~~577287% 0.000000% 0.000000% 0.000000% 1.~~250000~~577287% 1.~~154501~~491048% 0.000000% 0.000000% 0.000000% 1.~~154501~~491048% 120 Days 0.~~312500~~946372% 0.000000% 0.000000% 0.000000% 0.~~312500~~946372% 0.~~311985~~734843% 0.000000% 0.000000% 0.000000% 0.~~311985~~734843% 150 Days 0.~~000000~~315457% 0.000000% 0.000000% 0.000000% 0.~~000000~~315457% 0.~~000000~~317696% 0.000000% 0.000000% 0.000000% 0.~~000000~~317696% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1110.~~250000~~410095% 0.000000% 0.000000% 0.000000% 1110.~~250000~~410095% 109.~~752497~~933593% 0.000000% 0.000000% 0.000000% 109.~~752497~~933593%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~437~~468,~~907~~549.8636

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 07.~~000000~~791105% Weighted Average Net Coupon 7.~~319838~~340839% Weighted Average Pass-Through Rate 07.~~000000~~330839% Weighted Average Maturity(Stepdown Calculation ) ~~302~~301 Beginning Scheduled Collateral Loan Count 4,~~751~~633 Number Of Loans Paid In Full ~~118~~121 Ending Scheduled Collateral Loan Count 4,~~633~~512 Beginning Scheduled Collateral Balance ~~500~~482,~~796~~016,~~164~~869.2656 Ending Scheduled Collateral Balance ~~482~~463,~~016~~212,~~869~~782.5647 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~482~~464,~~932~~089,~~798~~366.3929 Monthly P &I Constant 3,~~962~~827,~~021~~788.7432 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0122,355.0025 Cumulative Realized Loss 0122,355.0025 Ending Scheduled Balance for Premium Loans ~~482~~463,~~016~~212,~~869~~782.5647 Scheduled Principal ~~719~~698,~~685~~251.9756 Unscheduled Principal 18,~~059~~105,~~608~~835.7353 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 21,~~065~~982,~~581~~930.9247 Overcollateralized reduction Amount 0.00 Specified O/C Amount 9,306,154.25 Overcollateralized Amount 23,~~066~~926,~~149~~725.8607 Overcollateralized Deficiency Amount 75,~~240~~379,~~004~~429.3917 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 21,~~065~~982,~~581~~930.9247 Excess Cash Amount 21,~~065~~982,~~581~~930.9247

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 6.~~983608~~966312 7.~~192981~~203347 8.~~228079~~270109 Weighted Average Net Rate 6.~~589541~~573861 6.~~737941~~748122 7.~~770582~~810436 Weighted Average Maturity ~~317~~316 ~~321~~320 ~~289~~288 Beginning Loan Count ~~457~~449 1,~~114~~078 2,~~855~~786 Loans Paid In Full 824 3624 6970 Ending Loan Count ~~449~~425 1,~~078~~054 2,~~786~~716 Beginning Scheduled Balance 6867,~~865~~246,~~106~~574.3308 ~~153~~147,~~972~~605,~~982~~794.9721 ~~261~~251,~~725~~225,~~066~~665.3823 Ending scheduled Balance 6761,~~246~~561,~~574~~607.0864 ~~147~~143,~~605~~561,~~794~~557.2176 ~~251~~242,~~225~~480,~~665~~362.2303 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~492~~482,~~800~~018.2931 1,~~120~~078,~~694~~341.9508 2,~~199~~120,~~112~~611.3935 Scheduled Principal 9291,~~027~~634.8647 ~~197~~192,~~757~~294.6258 ~~404~~389,~~533~~224.7189 Unscheduled Principal 15,~~526~~593,~~504~~331.3997 63,~~169~~851,~~431~~941.1487 108,~~094~~356,~~867~~078.4431 Scheduled Interest ~~400~~390,~~772~~383.4384 ~~922~~886,~~937~~046.3350 1,~~794~~731,~~578~~386.6846 Servicing Fees 2221,~~614~~992.5748 5855,~~386~~994.6087 9996,~~781~~234.9787 Master Servicing Fees ~~573~~560.8838 1,~~283~~230.0703 2,~~181~~093.0655 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 ~~377~~367,~~583~~830.98 ~~863~~828,~~267~~821.6660 1,~~692~~633,~~615~~058.6504 Realized Loss Amount 0.00 0.00 0122,355.0025 Cumulative Realized Loss 0.00 0.00 0122,355.0025 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 6.563861 6.738122 7.800436

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 9.~~170007~~164029 07.~~000000~~791105 Weighted Average Net Rate 8.~~670006~~664029 7.~~319838~~340839 Weighted Average Maturity ~~264~~263 ~~302~~301 Beginning Loan Count ~~325~~320 4,~~751~~633 Loans Paid In Full 53 ~~118~~121 Ending Loan Count ~~320~~317 4,~~633~~512 Beginning Scheduled Balance 1615,~~233~~938,~~008~~836.5804 ~~500~~482,~~796~~016,~~164~~869.2656 Ending scheduled Balance 15,~~938~~609,~~836~~255.04 ~~482~~463,~~016~~212,~~869~~782.5647 Record Date 0708/31/2003 0708/31/2003 Principal And Interest Constant ~~149~~146,~~414~~817.1158 3,~~962~~827,~~021~~788.7432 Scheduled Principal 25,~~366~~097.7862 ~~719~~698,~~685~~251.9756 Unscheduled Principal ~~268~~304,~~805~~483.7638 18,~~059~~105,~~608~~835.7353 Scheduled Interest ~~124~~121,~~047~~719.3396 3,~~242~~129,~~335~~536.7776 Servicing Fees 6,~~763~~641.7618 ~~187~~180,~~546~~863.9040 Master Servicing Fees ~~135~~132.2883 4,~~173~~016.2979 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest ~~117~~114,~~148~~945.2995 32,~~050~~944,~~615~~656.5857 Realized Loss Amount 0.00 0122,355.0025 Cumulative Realized Loss 0.00 0122,355.0025 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 8.654029 7.330839

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2003-2