8-K 1 bst03001.txt OCTOBER 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): October 27, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-19 54-2120448 Pooling and Servicing Agreement) (Commission 54-2120449 (State or other File Number) 54-2120450 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 October 27, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-1 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 2003-1 Trust, relating to the October 27, 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 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/27/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the October 27, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 BST Series: 2003-1 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 07384MTH5 SEN 5.~~06362~~06447% ~~187~~173,~~794~~451,~~080~~976.1286 ~~791~~730,~~327~~845.5502 1415,~~342~~347,~~103~~284.2614 II-A-1 07384MTJ1 SEN 5.~~41698~~43709% 8069,~~614~~386,~~743~~040.8916 ~~363~~313,~~400~~870.1047 117,~~228~~334,~~703~~926.7316 III-A-1 07384MTK8 SEN 5.~~43367~~42089% ~~116~~100,~~729~~775,~~917~~093.3264 ~~527~~454,~~823~~501.6789 157,~~954~~650,~~823~~836.6764 IV-A-1 07384MTL6 SEN 4.~~49380~~44582% 1816,~~741~~841,~~065~~586.6925 7062,~~084~~294.4704 1,~~899~~276,~~479~~669.4395 V-A-1 07384MTM4 SEN 5.~~46124~~46877% ~~127~~108,~~103~~634,~~692~~529.5980 ~~577~~494,~~648~~275.2380 1811,~~469~~220,~~162~~681.7815 VI-A-1 07384MTN2 SEN 5.~~20597~~19895% ~~183~~163,~~192~~716,~~526~~908.4661 ~~793~~708,~~639~~143.8637 1914,~~475~~333,~~617~~333.8547 VII-A-1 07384MTP7 SEN 3.81200% 5449,~~404~~327,~~172~~539.0298 ~~172~~156,~~583~~442.3237 53,~~076~~541,~~632~~379.0486 VII-A-X 07384MTQ5 SEN 1.~~42511~~41736% 0.00 6458,~~519~~167.9181 0.00 VIII-A-1 07384MTR3 SEN 4.~~98496~~92714% 1916,~~210~~373,~~348~~252.4912 7967,~~691~~118.2245 21,~~837~~365,~~096~~464.3756 VIII-A-X 07384MTS1 SEN 0.38300% 0.00 65,~~122~~217.7730 0.00 R-I 07384MTU6 SEN 5.~~07994~~07809% 0.00 0.00 0.00 R-II 07384MTV4 SEN 5.~~07994~~07809% 0.00 0.00 0.00 R-III 07384MTW2 SEN 5.~~07994~~07809% 0.00 0.00 0.00 M 07384MTT9 MEZ 5.~~26458~~26116% 43,~~823~~789,~~004~~292.9012 191,~~990~~673.3809 33,~~712~~844.7827 B-1 07384MTX0 SUB 5.~~26458~~26116% 13,~~439~~428,~~122~~783.5389 58,~~877~~780.3505 10,~~338~~378.6496 B-2 07384MTY8 SUB 5.~~26458~~26116% 9,~~933~~925,~~286~~644.1250 43,~~518~~446.1321 7,~~641~~671.6242 B-3 07384MTZ5 SUB 5.~~26458~~26116% 7,~~011~~006,~~672~~278.8278 30,~~718~~667.4366 5,~~394~~415.0408 B-4 07384MUA8 SUB 5.~~26458~~26116% 3,~~505~~503,~~736~~039.8792 15,~~358~~333.7839 2,~~696~~707.9446 B-5 07384MUB6 SUB 5.~~26458~~26116% 1,~~752~~751,~~868~~519.4396 7,~~679~~666.3970 1,~~348~~353.4773 B-6 07384MUC4 SUB 5.~~26458~~26116% 2,~~337~~336,~~807~~008.2781 10,~~242~~225.0310 1,~~798~~805.4648 Totals ~~869~~780,~~594~~247,~~045~~495.5240 3,~~805~~408,~~225~~668.5972 8962,~~346~~133,~~550~~752.0833

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~173~~158,~~451~~104,~~976~~692.8672 1516,~~133~~078,~~430~~129.8116 0.00 II-A-1 0.00 6962,~~386~~051,~~040~~113.1699 117,~~592~~648,~~103~~796.8363 0.00 III-A-1 0.00 ~~100~~93,~~775~~124,~~093~~257.6400 168,~~482~~105,~~647~~338.3453 0.00 IV-A-1 0.00 1615,~~841~~564,~~586~~916.2531 1,~~969~~338,~~563~~963.9099 0.00 V-A-1 0.00 ~~108~~97,~~634~~413,~~529~~848.8066 1911,~~046~~714,~~811~~956.0195 0.00 VI-A-1 0.00 ~~163~~149,~~716~~383,~~908~~575.6114 2015,~~269~~041,~~257~~476.7184 0.00 VII-A-1 0.00 4945,~~327~~786,~~539~~160.9812 53,~~249~~697,~~215~~822.3623 0.00 VII-A-X 0.00 0.00 6458,~~519~~167.9181 0.00 VIII-A-1 0.00 1615,~~373~~007,~~252~~787.1256 21,~~916~~432,~~787~~583.5901 0.00 VIII-A-X 0.00 0.00 65,~~122~~217.7730 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 M 0.00 43,~~789~~755,~~292~~447.1285 225,~~703~~517.1636 0.00 B-1 0.00 13,~~428~~418,~~783~~404.8992 69,~~215~~159.9901 0.00 B-2 0.00 9,~~925~~917,~~644~~973.5007 51,~~159~~117.7563 0.00 B-3 0.00 7,~~006~~000,~~278~~863.7870 36,~~112~~082.4774 0.00 B-4 0.00 3,~~503~~500,~~039~~332.9246 18,~~055~~040.7285 0.00 B-5 0.00 1,~~751~~750,~~519~~166.9623 9,~~027~~020.8643 0.00 B-6 0.00 2,~~336~~334,~~008~~203.8133 12,~~040~~030.4958 0.00 Totals 0.00 ~~780~~718,~~247~~113,~~495~~743.4006 9365,~~151~~542,~~775~~421.6705 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-1 239,692,900.00 ~~187~~173,~~794~~451,~~080~~976.1286 ~~131~~121,~~648~~722.4477 1415,~~210~~225,~~454~~561.8237 0.00 0.00 II-A-1 113,342,700.00 8069,~~614~~386,~~743~~040.8916 6356,~~313~~291.1023 117,~~165~~278,~~390~~634.6393 0.00 0.00 III-A-1 190,689,900.00 ~~116~~100,~~729~~775,~~917~~093.3264 9889,~~728~~572.0486 157,~~856~~561,~~095~~263.6378 0.00 0.00 IV-A-1 25,928,500.00 1816,~~741~~841,~~065~~586.6925 2421,~~401~~728.1926 1,~~875~~254,~~078~~941.2469 0.00 0.00 V-A-1 167,595,200.00 ~~127~~108,~~103~~634,~~692~~529.5980 7460,~~908~~819.8861 1811,~~394~~159,~~253~~861.9054 0.00 0.00 VI-A-1 254,617,100.00 ~~183~~163,~~192~~716,~~526~~908.4661 ~~145~~129,~~985~~990.5290 1914,~~329~~203,~~632~~342.3357 0.00 0.00 VII-A-1 74,817,300.00 5449,~~404~~327,~~172~~539.0298 4843,~~479~~134.6642 53,~~028~~498,~~152~~245.3844 0.00 0.00 VII-A-X 0.00 0.00 0.00 0.00 0.00 0.00 VIII-A-1 25,110,300.00 1916,~~210~~373,~~348~~252.4912 1412,~~965~~663.6989 21,~~822~~352,~~130~~800.6867 0.00 0.00 VIII-A-X 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 100.00 0.00 0.00 0.00 0.00 0.00 R-III 100.00 0.00 0.00 0.00 0.00 0.00 M 44,023,800.00 43,~~823~~789,~~004~~292.9012 33,~~712~~844.7827 0.00 0.00 0.00 B-1 13,500,700.00 13,~~439~~428,~~122~~783.5389 10,~~338~~378.6496 0.00 0.00 0.00 B-2 9,978,800.00 9,~~933~~925,~~286~~644.1250 7,~~641~~671.6242 0.00 0.00 0.00 B-3 7,043,800.00 7,~~011~~006,~~672~~278.8278 5,~~394~~415.0408 0.00 0.00 0.00 B-4 3,521,800.00 3,~~505~~503,~~736~~039.8792 2,~~696~~707.9446 0.00 0.00 0.00 B-5 1,760,900.00 1,~~752~~751,~~868~~519.4396 1,~~348~~353.4773 0.00 0.00 0.00 B-6 2,348,519.00 2,~~337~~336,~~807~~008.2781 1,~~798~~805.4648 0.00 0.00 0.00 Totals 1,173,972,519.00 ~~869~~780,~~594~~247,~~045~~495.5240 ~~665~~599,~~361~~100.4734 8861,~~681~~534,~~188~~651.6199 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 1415,~~342~~347,~~103~~284.2614 ~~173~~158,~~451~~104,~~976~~692.8672 0.~~72364253~~65961358 1415,~~342~~347,~~103~~284.2614 II-A-1 117,~~228~~334,~~703~~926.7316 6962,~~386~~051,~~040~~113.1699 0.~~61217917~~54746458 117,~~228~~334,~~703~~926.7316 III-A-1 157,~~954~~650,~~823~~836.6764 ~~100~~93,~~775~~124,~~093~~257.6400 0.~~52847630~~48835443 157,~~954~~650,~~823~~836.6764 IV-A-1 1,~~899~~276,~~479~~669.4395 1615,~~841~~564,~~586~~916.2531 0.~~64953955~~60030146 1,~~899~~276,~~479~~669.4395 V-A-1 1811,~~469~~220,~~162~~681.7815 ~~108~~97,~~634~~413,~~529~~848.8066 0.~~64819595~~58124486 1811,~~469~~220,~~162~~681.7815 VI-A-1 1914,~~475~~333,~~617~~333.8547 ~~163~~149,~~716~~383,~~908~~575.6114 0.~~64299259~~58669891 1914,~~475~~333,~~617~~333.8547 VII-A-1 53,~~076~~541,~~632~~379.0486 4945,~~327~~786,~~539~~160.9812 0.~~65930660~~61197290 53,~~076~~541,~~632~~379.0486 VII-A-X 0.00 0.00 0.00000000 0.00 VIII-A-1 21,~~837~~365,~~096~~464.3756 1615,~~373~~007,~~252~~787.1256 0.~~65205323~~59767456 21,~~837~~365,~~096~~464.3756 VIII-A-X 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 M 33,~~712~~844.7827 43,~~789~~755,~~292~~447.1285 0.~~99467316~~99390438 33,~~712~~844.7827 B-1 10,~~338~~378.6496 13,~~428~~418,~~783~~404.8992 0.~~99467316~~99390438 10,~~338~~378.6496 B-2 7,~~641~~671.6242 9,~~925~~917,~~644~~973.5007 0.~~99467316~~99390438 7,~~641~~671.6242 B-3 5,~~394~~415.0408 7,~~006~~000,~~278~~863.7870 0.~~99467316~~99390438 5,~~394~~415.0408 B-4 2,~~696~~707.9446 3,~~503~~500,~~039~~332.9246 0.~~99467316~~99390438 2,~~696~~707.9446 B-5 1,~~348~~353.4773 1,~~751~~750,~~519~~166.9623 0.~~99467316~~99390438 1,~~348~~353.4773 B-6 1,~~798~~805.4648 2,~~336~~334,~~008~~203.8133 0.~~99467316~~99390438 1,~~798~~805.4648 Totals 8962,~~346~~133,~~550~~752.0833 ~~780~~718,~~247~~113,~~495~~743.4006 0.~~66462160~~61169553 8962,~~346~~133,~~550~~752.0833

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 239,692,900.00 ~~783~~723.~~47785904~~64253117 0.~~54923796~~50782802 5963.~~28608991~~52111961 0.00000000 II-A-1 113,342,700.00 ~~711~~612.~~24778120~~17917131 0.~~55859883~~49664628 9864.~~51001105~~21794196 0.00000000 III-A-1 190,689,900.00 ~~612~~528.~~14525426~~47630441 0.~~51774132~~46973049 8339.~~15120848~~65214613 0.00000000 IV-A-1 25,928,500.00 ~~722~~649.~~79791311~~53955107 0.~~94109532~~83800683 7248.~~31726633~~40008832 0.00000000 V-A-1 167,595,200.00 ~~758~~648.~~39697432~~19594953 0.~~44696316~~36289589 ~~109~~66.~~75406157~~58819310 0.00000000 VI-A-1 254,617,100.00 ~~719~~642.~~48241677~~99259009 0.~~57335316~~51053484 7555.~~91647352~~78314485 0.00000000 VII-A-1 74,817,300.00 ~~727~~659.~~16032281~~30660395 0.~~64797393~~57653003 6746.~~20574493~~75717301 0.00000000 VII-A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 VIII-A-1 25,110,300.00 ~~765~~652.~~03858934~~05322597 0.~~59599806~~50433049 ~~112~~53.~~38936532~~87433324 0.00000000 VIII-A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 100.00 0.00000000 0.00000000 0.00000000 0.00000000 M 44,023,800.00 ~~995~~994.~~43894212~~67315679 0.~~76578533~~76877212 0.00000000 0.00000000 B-1 13,500,700.00 ~~995~~994.~~43894243~~67315695 0.~~76578548~~76877199 0.00000000 0.00000000 B-2 9,978,800.00 ~~995~~994.~~43894256~~67315709 0.~~76578547~~76877180 0.00000000 0.00000000 B-3 7,043,800.00 ~~995~~994.~~43894205~~67315653 0.~~76578551~~76877254 0.00000000 0.00000000 B-4 3,521,800.00 ~~995~~994.~~43894315~~67315577 0.~~76578454~~76877165 0.00000000 0.00000000 B-5 1,760,900.00 ~~995~~994.~~43894031~~67315577 0.~~76578454~~76877165 0.00000000 0.00000000 B-6 2,348,519.00 ~~995~~994.~~43894258~~67315785 0.~~76578473~~76877385 0.00000000 0.00000000 (2) 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 I-A-1 0.00000000 5964.~~83532787~~02894762 ~~723~~659.~~64253117~~61358355 0.~~72364253~~65961358 5964.~~83532787~~02894762 II-A-1 0.00000000 9964.~~06860989~~71458824 ~~612~~547.~~17917131~~46458299 0.~~61217917~~54746458 9964.~~06860989~~71458824 III-A-1 0.00000000 8340.~~66894980~~12187662 ~~528~~488.~~47630441~~35442779 0.~~52847630~~48835443 8340.~~66894980~~12187662 IV-A-1 0.00000000 7349.~~25836165~~23809515 ~~649~~600.~~53955107~~30145631 0.~~64953955~~60030146 7349.~~25836165~~23809515 V-A-1 0.00000000 ~~110~~66.~~20102473~~95108899 ~~648~~581.~~19594953~~24486059 0.~~64819595~~58124486 ~~110~~66.~~20102473~~95108899 VI-A-1 0.00000000 7656.~~48982668~~29367969 ~~642~~586.~~99259009~~69891040 0.~~64299259~~58669891 7656.~~48982668~~29367969 VII-A-1 0.00000000 6747.~~85371886~~33370303 ~~659~~611.~~30660395~~97290092 0.~~65930660~~61197290 6747.~~85371886~~33370303 VII-A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 VIII-A-1 0.00000000 ~~112~~54.~~98536338~~37866374 ~~652~~597.~~05322597~~67456223 0.~~65205323~~59767456 ~~112~~54.~~98536338~~37866374 VIII-A-X 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 M 0.00000000 0.~~76578533~~76877212 ~~994~~993.~~67315679~~90438467 0.~~99467316~~99390438 0.~~76578533~~76877212 B-1 0.00000000 0.~~76578548~~76877199 ~~994~~993.~~67315695~~90438422 0.~~99467316~~99390438 0.~~76578548~~76877199 B-2 0.00000000 0.~~76578547~~76877180 ~~994~~993.~~67315709~~90438429 0.~~99467316~~99390438 0.~~76578547~~76877180 B-3 0.00000000 0.~~76578551~~76877254 ~~994~~993.~~67315653~~90438400 0.~~99467316~~99390438 0.~~76578551~~76877254 B-4 0.00000000 0.~~76578454~~76877165 ~~994~~993.~~67315577~~90438412 0.~~99467316~~99390438 0.~~76578454~~76877165 B-5 0.00000000 0.~~76578454~~76877165 ~~994~~993.~~67315577~~90438412 0.~~99467316~~99390438 0.~~76578454~~76877165 B-6 0.00000000 0.~~76578473~~76877385 ~~994~~993.~~67315785~~90438400 0.~~99467316~~99390438 0.~~76578473~~76877385 (3) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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-1 239,692,900.00 5.~~06362~~06447% ~~187~~173,~~794~~451,~~080~~976.1286 ~~792~~732,~~430~~035.7327 0.00 0.00 II-A-1 113,342,700.00 5.~~41698~~43709% 8069,~~614~~386,~~743~~040.8916 ~~363~~314,~~906~~381.7164 0.00 0.00 III-A-1 190,689,900.00 5.~~43367~~42089% ~~116~~100,~~729~~775,~~917~~093.3264 ~~528~~455,~~559~~242.5008 0.00 0.00 IV-A-1 25,928,500.00 4.~~49380~~44582% 1816,~~741~~841,~~065~~586.6925 7062,~~182~~395.1749 0.00 0.00 V-A-1 167,595,200.00 5.~~46124~~46877% ~~127~~108,~~103~~634,~~692~~529.5980 ~~578~~495,~~453~~080.5277 0.00 0.00 VI-A-1 254,617,100.00 5.~~20597~~19895% ~~183~~163,~~192~~716,~~526~~908.4661 ~~794~~709,~~746~~296.2664 0.00 0.00 VII-A-1 74,817,300.00 3.81200% 5449,~~404~~327,~~172~~539.0298 ~~172~~156,~~823~~697.9215 0.00 0.00 VII-A-X 0.00 1.~~42511~~41736% 5449,~~404~~327,~~172~~539.0298 6458,~~609~~262.8654 0.00 0.00 VIII-A-1 25,110,300.00 4.~~98496~~92714% 1916,~~210~~373,~~348~~252.4912 7967,~~802~~227.3275 0.00 0.00 VIII-A-X 0.00 0.38300% 1916,~~210~~373,~~348~~252.4912 65,~~131~~225.3080 0.00 0.00 R-I 100.00 5.~~07994~~07809% 0.00 0.00 0.00 0.00 R-II 100.00 5.~~07994~~07809% 0.00 0.00 0.00 0.00 R-III 100.00 5.~~07994~~07809% 0.00 0.00 0.00 0.00 M 44,023,800.00 5.~~26458~~26116% 43,~~823~~789,~~004~~292.9012 ~~192~~191,~~258~~985.0325 0.00 0.00 B-1 13,500,700.00 5.~~26458~~26116% 13,~~439~~428,~~122~~783.5389 58,~~959~~875.4377 0.00 0.00 B-2 9,978,800.00 5.~~26458~~26116% 9,~~933~~925,~~286~~644.1250 43,~~578~~516.8097 0.00 0.00 B-3 7,043,800.00 5.~~26458~~26116% 7,~~011~~006,~~672~~278.8278 30,~~761~~717.2561 0.00 0.00 B-4 3,521,800.00 5.~~26458~~26116% 3,~~505~~503,~~736~~039.8792 15,~~380~~358.1937 0.00 0.00 B-5 1,760,900.00 5.~~26458~~26116% 1,~~752~~751,~~868~~519.4396 7,~~690~~679.0918 0.00 0.00 B-6 2,348,519.00 5.~~26458~~26116% 2,~~337~~336,~~807~~008.2781 10,~~256~~241.3176 0.00 0.00 Totals 1,173,972,519.00 3,~~810~~414,~~530~~220.3904 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 1,~~103~~190.1824 0.00 ~~791~~730,~~327~~845.5502 0.00 ~~173~~158,~~451~~104,~~976~~692.8672 II-A-1 ~~506~~511.6116 0.00 ~~363~~313,~~400~~870.1047 0.00 6962,~~386~~051,~~040~~113.1699 III-A-1 ~~735~~740.8319 0.00 ~~527~~454,~~823~~501.6789 0.00 ~~100~~93,~~775~~124,~~093~~257.6400 IV-A-1 97101.7045 0.00 7062,~~084~~294.4704 0.00 1615,~~841~~564,~~586~~916.2531 V-A-1 ~~805~~804.2997 0.00 ~~577~~494,~~648~~275.2380 0.00 ~~108~~97,~~634~~413,~~529~~848.8066 VI-A-1 1,~~106~~153.4027 0.00 ~~793~~708,~~639~~143.8637 0.00 ~~163~~149,~~716~~383,~~908~~575.6114 VII-A-1 ~~240~~254.6078 0.00 ~~172~~156,~~583~~442.3237 0.00 4945,~~327~~786,~~539~~160.9812 VII-A-X 8994.9573 0.00 6458,~~519~~167.9181 0.00 4945,~~327~~786,~~539~~160.9812 VIII-A-1 ~~111~~109.1031 0.00 7967,~~691~~118.2245 0.00 1615,~~373~~007,~~252~~787.1256 VIII-A-X 8.5450 0.00 65,~~122~~217.7730 0.00 1615,~~373~~007,~~252~~787.1256 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 M ~~267~~312.6516 0.00 191,~~990~~673.3809 0.00 43,~~789~~755,~~292~~447.1285 B-1 8295.0873 0.00 58,~~877~~780.3505 0.00 13,~~428~~418,~~783~~404.8992 B-2 6070.6776 0.00 43,~~518~~446.1321 0.00 9,~~925~~917,~~644~~973.5007 B-3 4249.8294 0.00 30,~~718~~667.4366 0.00 7,~~006~~000,~~278~~863.7870 B-4 2124.4197 0.00 15,~~358~~333.7839 0.00 3,~~503~~500,~~039~~332.9246 B-5 1012.7149 0.00 7,~~679~~666.3970 0.00 1,~~751~~750,~~519~~166.9623 B-6 1416.2865 0.00 10,~~242~~225.0310 0.00 2,~~336~~334,~~008~~203.8133 Totals 5,~~304~~551.8230 0.00 3,~~805~~408,~~225~~668.5972 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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-1 239,692,900.00 5.~~06362~~06447% ~~783~~723.~~47785904~~64253117 3.~~30602504~~05405488 0.00000000 0.00000000 II-A-1 113,342,700.00 5.~~41698~~43709% ~~711~~612.~~24778120~~17917131 32.~~21067621~~77372641 0.00000000 0.00000000 III-A-1 190,689,900.00 5.~~43367~~42089% ~~612~~528.~~14525426~~47630441 2.~~77182745~~38734238 0.00000000 0.00000000 IV-A-1 25,928,500.00 4.~~49380~~44582% ~~722~~649.~~79791311~~53955107 2.~~70675781~~40644426 0.00000000 0.00000000 V-A-1 167,595,200.00 5.~~46124~~46877% ~~758~~648.~~39697432~~19594953 32.~~45149217~~95402714 0.00000000 0.00000000 VI-A-1 254,617,100.00 5.~~20597~~19895% ~~719~~642.~~48241677~~99259009 32.~~12133890~~78573843 0.00000000 0.00000000 VII-A-1 74,817,300.00 3.81200% ~~727~~659.~~16032281~~30660395 2.~~30994596~~09439729 0.00000000 0.00000000 VII-A-X 0.00 1.~~42511~~41736% ~~727~~659.~~16032281~~30660395 0.~~86356845~~77873086 0.00000000 0.00000000 VIII-A-1 25,110,300.00 4.~~98496~~92714% ~~765~~652.~~03858934~~05322597 32.~~17807115~~67729776 0.00000000 0.00000000 VIII-A-X 0.00 0.38300% ~~765~~652.~~03858934~~05322597 0.~~24417470~~20811380 0.00000000 0.00000000 R-I 100.00 5.~~07994~~07809% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 100.00 5.~~07994~~07809% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 100.00 5.~~07994~~07809% 0.00000000 0.00000000 0.00000000 0.00000000 M 44,023,800.00 5.~~26458~~26116% ~~995~~994.~~43894212~~67315679 4.~~36713846~~36094226 0.00000000 0.00000000 B-1 13,500,700.00 5.~~26458~~26116% ~~995~~994.~~43894243~~67315695 4.~~36713874~~36094203 0.00000000 0.00000000 B-2 9,978,800.00 5.~~26458~~26116% ~~995~~994.~~43894256~~67315709 4.~~36713833~~36094220 0.00000000 0.00000000 B-3 7,043,800.00 5.~~26458~~26116% ~~995~~994.~~43894205~~67315653 4.~~36713848~~36094296 0.00000000 0.00000000 B-4 3,521,800.00 5.~~26458~~26116% ~~995~~994.~~43894315~~67315577 4.~~36713896~~36094327 0.00000000 0.00000000 B-5 1,760,900.00 5.~~26458~~26116% ~~995~~994.~~43894031~~67315577 4.~~36713612~~36094043 0.00000000 0.00000000 B-6 2,348,519.00 5.~~26458~~26116% ~~995~~994.~~43894258~~67315785 4.~~36713946~~36094407 0.00000000 0.00000000 (2) 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 I-A-1 0.~~00460247~~00496569 0.00000000 3.~~30142257~~04908915 0.00000000 ~~723~~659.~~64253117~~61358355 II-A-1 0.~~00446972~~00450986 0.00000000 32.~~20620649~~76921646 0.00000000 ~~612~~547.~~17917131~~46458299 III-A-1 0.~~00385878~~00388164 0.00000000 2.~~76796868~~38346074 0.00000000 ~~528~~488.~~47630441~~35442779 IV-A-1 0.~~00376805~~00391268 0.00000000 2.~~70298976~~40253158 0.00000000 ~~649~~600.~~53955107~~30145631 V-A-1 0.~~00480497~~00480306 0.00000000 32.~~44668720~~94922408 0.00000000 ~~648~~581.~~19594953~~24486059 VI-A-1 0.~~00434535~~00452943 0.00000000 32.~~11699356~~78120900 0.00000000 ~~642~~586.~~99259009~~69891040 VII-A-1 0.~~00321583~~00340536 0.00000000 2.~~30673013~~09099192 0.00000000 ~~659~~611.~~30660395~~97290092 VII-A-X 0.~~00120226~~00126615 0.00000000 0.~~86236619~~77746470 0.00000000 ~~659~~611.~~30660395~~97290092 VIII-A-1 0.~~00442448~~00435319 0.00000000 32.~~17364667~~67294497 0.00000000 ~~652~~597.~~05322597~~67456223 VIII-A-X 0.~~00034010~~00033851 0.00000000 0.~~24383500~~20777530 0.00000000 ~~652~~597.~~05322597~~67456223 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 M 0.~~00607967~~00709071 0.00000000 4.~~36105879~~35385155 0.00000000 ~~994~~993.~~67315679~~90438467 B-1 0.~~00607968~~00709074 0.00000000 4.~~36105906~~35385202 0.00000000 ~~994~~993.~~67315695~~90438422 B-2 0.~~00607989~~00709103 0.00000000 4.~~36105844~~35385116 0.00000000 ~~994~~993.~~67315709~~90438429 B-3 0.~~00607911~~00708992 0.00000000 4.~~36105937~~35385161 0.00000000 ~~994~~993.~~67315653~~90438400 B-4 0.~~00607928~~00709012 0.00000000 4.~~36105969~~35385030 0.00000000 ~~994~~993.~~67315577~~90438412 B-5 0.~~00608212~~00709296 0.00000000 4.~~36105969~~35385314 0.00000000 ~~994~~993.~~67315577~~90438412 B-6 0.~~00608043~~00708957 0.00000000 4.~~36105903~~35385023 0.00000000 ~~994~~993.~~67315785~~90438400 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,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 9365,~~407~~746,~~860~~517.1686 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2434,~~216~~785.4778 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 9365,~~432~~781,~~076~~303.6364 Withdrawals Reimbursement for Servicer Advances 4024,~~932~~216.3947 Payment of Service Fee ~~239~~214,~~368~~666.5712 Payment of Interest and Principal 9365,~~151~~542,~~775~~421.6705 Total Withdrawals (Pool Distribution Amount) 9365,~~432~~781,~~076~~303.6364 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 5,~~304~~551.7926

SERVICING FEES Gross Servicing Fee ~~220~~196,~~318~~238.9993 Additional Servicing Fees 17,~~762~~140.1472 Miscellaneous Fee 1,~~287~~286.4447 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~239~~214,~~368~~666.5712

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 1013 0 0 0 1013 46,~~429~~662,~~793~~049.8164 0.00 0.00 0.00 46,~~429~~662,~~793~~049.8164 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 1013 0 0 0 1013 46,~~429~~662,~~793~~049.8164 0.00 0.00 0.00 46,~~429~~662,~~793~~049.8164 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.~~582751~~814026% 0.000000% 0.000000% 0.000000% 0.~~582751~~814026% 0.~~567388~~927100% 0.000000% 0.000000% 0.000000% 0.~~567388~~927100% 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.~~582751~~814026% 0.000000% 0.000000% 0.000000% 0.~~582751~~814026% 0.~~567388~~927100% 0.000000% 0.000000% 0.000000% 0.~~567388~~927100%

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 34 0 0 0 34 12,~~449~~006,~~619~~558.6760 0.00 0.00 0.00 12,~~449~~006,~~619~~558.6760 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 34 0 0 0 34 12,~~449~~006,~~619~~558.6760 0.00 0.00 0.00 12,~~449~~006,~~619~~558.6760 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~700935~~002506% 0.000000% 0.000000% 0.000000% 01.~~700935~~002506% 01.~~756920~~139101% 0.000000% 0.000000% 0.000000% 01.~~756920~~139101% 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 01.~~700935~~002506% 0.000000% 0.000000% 0.000000% 01.~~700935~~002506% 01.~~756920~~139101% 0.000000% 0.000000% 0.000000% 01.~~756920~~139101% 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 ~~744~~1,~~377~~059,862.1740 0.00 0.00 0.00 ~~744~~1,~~377~~059,862.1740 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 ~~744~~1,~~377~~059,862.1740 0.00 0.00 0.00 ~~744~~1,~~377~~059,862.1740 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~555556~~204819% 0.000000% 0.000000% 0.000000% 01.~~555556~~204819% 01.~~955268~~501612% 0.000000% 0.000000% 0.000000% 01.~~955268~~501612% 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 01.~~555556~~204819% 0.000000% 0.000000% 0.000000% 01.~~555556~~204819% 01.~~955268~~501612% 0.000000% 0.000000% 0.000000% 01.~~955268~~501612% 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 1 0 0 0 1 ~~480~~626,~~603~~853.0239 0.00 0.00 0.00 ~~480~~626,~~603~~853.0239 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 1 0 0 0 1 ~~480~~626,~~603~~853.0239 0.00 0.00 0.00 ~~480~~626,~~603~~853.0239 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~411523~~438596% 0.000000% 0.000000% 0.000000% 0.~~411523~~438596% 0.~~417462~~583314% 0.000000% 0.000000% 0.000000% 0.~~417462~~583314% 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.~~411523~~438596% 0.000000% 0.000000% 0.000000% 0.~~411523~~438596% 0.~~417462~~583314% 0.000000% 0.000000% 0.000000% 0.~~417462~~583314% 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 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% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 3 0 0 0 3 ~~780~~1,~~328~~517,547.0390 0.00 0.00 0.00 ~~780~~1,~~328~~517,547.0390 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 3 0 0 0 3 ~~780~~1,~~328~~517,547.0390 0.00 0.00 0.00 ~~780~~1,~~328~~517,547.0390 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~239669~~345291% 0.000000% 0.000000% 0.000000% 1.~~239669~~345291% 01.~~643563~~379343% 0.000000% 0.000000% 0.000000% 01.~~643563~~379343% 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 1.~~239669~~345291% 0.000000% 0.000000% 0.000000% 1.~~239669~~345291% 01.~~643563~~379343% 0.000000% 0.000000% 0.000000% 01.~~643563~~379343% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 6 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 ~~643~~912,~~891~~025.7014 0.00 0.00 0.00 ~~643~~912,~~891~~025.7014 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 ~~643~~912,~~891~~025.7014 0.00 0.00 0.00 ~~643~~912,~~891~~025.7014 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~238095~~511509% 0.000000% 0.000000% 0.000000% 0.~~238095~~511509% 0.~~352055~~541132% 0.000000% 0.000000% 0.000000% 0.~~352055~~541132% 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.~~238095~~511509% 0.000000% 0.000000% 0.000000% 0.~~238095~~511509% 0.~~352055~~541132% 0.000000% 0.000000% 0.000000% 0.~~352055~~541132% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 7 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 1 0 0 0 1 ~~330~~539,~~974~~202.2221 0.00 0.00 0.00 ~~330~~539,~~974~~202.2221 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 1 0 0 0 1 ~~330~~539,~~974~~202.2221 0.00 0.00 0.00 ~~330~~539,~~974~~202.2221 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~854701~~909091% 0.000000% 0.000000% 0.000000% 0.~~854701~~909091% 01.~~602157~~048634% 0.000000% 0.000000% 0.000000% 01.~~602157~~048634% 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.~~854701~~909091% 0.000000% 0.000000% 0.000000% 0.~~854701~~909091% 01.~~602157~~048634% 0.000000% 0.000000% 0.000000% 01.~~602157~~048634% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 8 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 2434,~~216~~785.4778

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 934,279,619.00 79.58275035% ~~606~~560,~~795~~009,~~518~~050.5434 77.~~76962076~~98333556% 8988.~~523764~~626120% 0.000000% Class R-I 934,279,519.00 79.58274183% ~~606~~560,~~795~~009,~~518~~050.5434 77.~~76962076~~98333556% 0.000000% 0.000000% Class R-II 934,279,419.00 79.58273332% ~~606~~560,~~795~~009,~~518~~050.5434 77.~~76962076~~98333556% 0.000000% 0.000000% Class R-III 934,279,319.00 79.58272480% ~~606~~560,~~795~~009,~~518~~050.5434 77.~~76962076~~98333556% 0.000000% 0.000000% Class II-A-1 820,936,619.00 69.92809505% ~~537~~497,~~409~~957,~~478~~936.3835 6869.~~87679630~~34248798% 8.~~892824~~640848% 8475.~~885684~~970979% Class III-A-1 630,246,719.00 53.68496356% ~~436~~404,~~634~~833,~~384~~679.7435 5556.~~96101071~~37459009% 12.~~915786~~967898% ~~123~~114.~~286510~~014729% Class M 38,154,519.00 3.25003511% 37,~~951~~921,~~275~~943.8671 45.~~86400483~~28077119% 56.~~612231~~093108% 53.571064% Class B-1 24,653,819.00 2.10003374% 24,~~522~~503,~~491~~538.9779 3.~~14291197~~41220858% 1.~~721093~~868563% 16.428542% Class B-2 14,675,019.00 1.25003088% 14,~~596~~585,~~847~~565.4772 12.~~87079709~~03109408% 1.~~272115~~381115% 12.142862% Class B-3 7,631,219.00 0.65003387% 7,~~590~~584,~~568~~702.6902 01.~~97284115~~05619786% 0.~~897956~~974896% 8.571361% Class B-4 4,109,419.00 0.35004388% 4,~~087~~084,~~528~~369.7756 0.~~52387592~~56876360% 0.~~448965~~487434% 4.285559% Class B-5 2,348,519.00 0.20004889% 2,~~336~~334,~~008~~203.8133 0.~~29939331~~32504646% 0.~~224483~~243717% 2.142779% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~299393~~325046% 2.857833% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~588640~~581131% Weighted Average Net Coupon 5.~~284610~~279321% Weighted Average Pass-Through Rate 5.~~258323~~250980% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count 1,~~894~~716 Number Of Loans Paid In Full ~~178~~119 Ending Scheduled Collateral Loan Count 1,~~716~~597 Beginning Scheduled Collateral Balance ~~869~~780,~~594~~247,~~046~~495.0190 Ending Scheduled Collateral Balance ~~780~~718,~~247~~113,~~495~~743.9057 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~780~~718,~~734~~590,~~258~~344.8104 Monthly P &I Constant 4,~~715~~227,~~235~~986.1248 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 9265,~~735~~126,~~265~~421.4406 Ending Scheduled Balance for Premium Loans ~~780~~718,~~247~~113,~~495~~743.9057 Scheduled Principal ~~665~~599,~~361~~100.5034 Unscheduled Principal 8861,~~681~~534,~~188~~651.6199

Miscellaneous Reporting Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00 Average Loss Severity Group 4 0.00 Average Loss Severity Group 5 0.00 Average Loss Severity Group 6 0.00 Average Loss Severity Group 7 0.00 Average Loss Severity Group 8 0.00 Senior Percentage Group 1 9190.~~268100~~619823% Senior Percentage Group 2 9089.~~469677~~103199% Senior Percentage Group 3 8987.~~098348~~595833% Senior Percentage Group 4 9089.~~632390~~696893% Senior Percentage Group 5 9189.~~001674~~635965% Senior Percentage Group 6 9089.~~570042~~572765% Senior Percentage Group 7 9089.~~664554~~809923% Senior Percentage Group 8 9189.~~080120~~701011% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Senior Prepayment Percentage Group 4 100.000000% Senior Prepayment Percentage Group 5 100.000000% Senior Prepayment Percentage Group 6 100.000000% Senior Prepayment Percentage Group 7 100.000000% Senior Prepayment Percentage Group 8 100.000000% Subordinate Percentage Group 1 89.~~731900~~380177% Subordinate Percentage Group 2 910.~~530323~~896801% Subordinate Percentage Group 3 1012.~~901652~~404167% Subordinate Percentage Group 4 910.~~367610~~303107% Subordinate Percentage Group 5 810.~~998326~~364035% Subordinate Percentage Group 6 910.~~429958~~427235% Subordinate Percentage Group 7 910.~~335446~~190077% Subordinate Percentage Group 8 810.~~919880~~298989% Subordinate Prepay Percentage Group 1 0.000000% Subordinate Prepay Percentage Group 2 0.000000% Subordinate Prepay Percentage Group 3 0.000000% Subordinate Prepay Percentage Group 4 0.000000% Subordinate Prepay Percentage Group 5 0.000000% Subordinate Prepay Percentage Group 6 0.000000% Subordinate Prepay Percentage Group 7 0.000000% Subordinate Prepay Percentage Group 8 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~394191~~395996 5.~~711465~~729469 5.~~729219~~714617 Weighted Average Net Rate 5.~~139513~~142221 5.~~418285~~438585 5.~~433434~~420888 Weighted Average Maturity ~~351~~ 350 ~~350~~349 349 Beginning Loan Count ~~458~~428 ~~204~~180 ~~272~~243 Loans Paid In Full 3029 2414 2915 Ending Loan Count ~~428~~399 ~~180~~166 ~~243~~228 Beginning Scheduled Balance ~~205~~191,~~760~~406,~~918~~219.2881 8977,~~106~~871,~~921~~548.3605 ~~131~~115,~~012~~045,~~437~~533.0952 Ending scheduled Balance ~~191~~176,~~406~~046,~~219~~335.8199 7770,~~871~~529,~~548~~737.0580 ~~115~~107,~~045~~382,~~533~~012.5275 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant 1995,~~069,171~~011.6981 ~~494~~434,~~091~~977.8953 ~~736~~650,~~307~~124.0967 Scheduled Principal ~~144~~134,~~243~~322.6545 6963,~~982~~175.6832 ~~110~~102,~~807~~256.9499 Unscheduled Principal 1415,~~210~~225,~~454~~561.8237 117,~~165~~278,~~390~~634.6393 157,~~856~~561,~~095~~263.6378 Scheduled Interest ~~924~~860,~~928~~689.0436 ~~424~~371,~~109~~802.21 ~~625~~547,~~499~~867.1568 Servicing Fees 4340,~~668~~478.9645 2118,~~770~~876.2634 3228,~~292~~160.9520 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 1312,~~014~~401.0771 97.3120 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 ~~868~~807,~~245~~809.0120 ~~402~~352,~~241~~828.6467 ~~593~~519,~~206~~707.2048 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 5.~~063615~~064470 5.~~416975~~437087 5.~~433434~~420888

Group Level Collateral Statement Group Group 4 Group 5 Group 6 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~820964~~770801 5.~~811879~~817869 5.~~579151~~572452 Weighted Average Net Rate 4.~~578404~~538844 5.~~461244~~468767 5.~~229971~~225459 Weighted Average Maturity ~~350~~349 ~~350~~349 ~~352~~351 Beginning Loan Count 5046 ~~274~~242 ~~462~~420 Loans Paid In Full 42 3219 4229 Ending Loan Count 4644 ~~242~~223 ~~420~~391 Beginning Scheduled Balance 2018,~~678~~776,~~110~~108.3989 ~~139~~121,~~671~~195,~~818~~248.1834 ~~202~~182,~~266~~775,~~137~~320.8429 Ending scheduled Balance 1817,~~776~~496,~~108~~943.8911 ~~121~~109,~~195~~967,~~248~~535.3401 ~~182~~168,~~775~~426,~~320~~854.2948 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~109~~98,~~996~~871.9466 ~~758~~655,~~778~~433.9951 1993,~~101,579~~878.6685 Scheduled Principal 2624,~~923~~224.2609 8267,~~315~~851.9479 ~~161~~145,~~185~~123.2224 Unscheduled Principal 1,~~875~~254,~~078~~941.2469 1811,~~394~~159,~~253~~861.9054 1914,~~329~~203,~~632~~342.3357 Scheduled Interest 8374,~~073~~647.6857 ~~676~~587,~~463~~581.0572 ~~940~~848,~~394~~755.4461 Servicing Fees 43,~~179~~629.7338 4035,~~811~~257.5492 5852,~~856~~851.0752 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 1,~~457~~455.8559 0.00 4,~~044~~037.8569 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 7769,~~436~~562.1060 ~~635~~552,~~651~~323.5180 ~~877~~791,~~493~~866.5240 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.~~493800~~445816 5.~~461244~~468767 5.~~205974~~198950

Group Level Collateral Statement Group Group 7 Group 8 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~511387~~505872 5.~~678582~~623349 5.~~588640~~581131 Weighted Average Net Rate 5.~~245817~~238867 5.~~367958~~310139 5.~~284610~~279321 Weighted Average Maturity ~~352~~351.00 ~~350~~349.00 ~~351~~350.00 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant ~~329~~300,~~068~~034.3807 ~~116~~99,~~240~~654.4838 4,~~715~~227,~~235~~986.1248 Beginning Loan Count ~~129~~117 4540 1,~~894~~716 Loans Paid In Full 127 54 ~~178~~119 Ending Loan Count ~~117~~110 4036 1,~~716~~597 Beginning Scheduled Balance 6054,~~005~~924,~~999~~375.7591 2118,~~091~~253,~~703~~141.1209 ~~869~~780,~~594~~247,~~046~~495.0190 Ending Scheduled Balance 5451,~~924~~378,~~375~~101.9190 1816,~~253~~886,~~141~~222.0953 ~~780~~718,~~247~~113,~~495~~743.9057 Scheduled Principal 5348,~~471~~028.4657 1614,~~431~~117.3589 ~~665~~599,~~361~~100.5034 Unscheduled Principal 53,~~028~~498,~~152~~245.3844 21,~~822~~352,~~130~~800.6867 8861,~~681~~534,~~188~~651.6199 Scheduled Interest ~~275~~252,~~596~~005.9250 9985,~~809~~536.1349 43,~~049~~628,~~873~~886.6214 Servicing Fee 1312,~~279~~220.8390 54,~~459~~764.6522 ~~220~~196,~~318~~238.9993 Master Servicing Fee 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 435.5000 0.00 1918,~~049~~427.5819 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest ~~261~~239,~~881~~349.5960 9480,~~349~~772.4827 3,~~810~~414,~~505~~220.0502 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 5.~~237108~~229363 5.~~367958~~310140 5.~~258323~~250980

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT 2003-1