8-K 1 bsa03ac2_oct.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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-04 54-2120429 Pooling and Servicing Agreement) (Commission 54-2120431 (State or other File Number) 54-2120430 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 ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-AC2 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-AC2 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-AC2 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: 10/29/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-AC2 Trust, relating to the October 27, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 BSA Series: 2003-AC2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 07384YHT6 SEN 4.46100% 8783,~~381~~411,~~087~~598.3459 ~~324~~310,~~839~~082.1961 3,~~969~~261,~~488~~936.7541 A-2 07384YHU3 SEN 4.45500% 3029,~~583~~194,~~380~~059.5751 ~~113~~108,~~540~~382.8094 1,~~389~~141,~~321~~677.0674 A-3 07384YHV1 SEN 3.50000% 8175,~~512~~384,~~903~~171.6175 ~~237~~219,~~745~~870.9750 65,~~128~~036,~~731~~299.8534 A-4 07384YHW9 SEN 5.00000% 53,400,000.00 222,500.00 0.00 A-IO 07384YHX7 IO 5.00000% 0.00 209,375.00 0.00 M-1 07384YHY5 MEZ 4.95800% 1615,~~078~~347,~~120~~734.0714 6663,~~429~~411.4372 ~~730~~600,~~385~~196.9330 M-2 07384YHZ2 MEZ 5.45900% 11,~~694~~162,~~210~~974.9224 5350,~~198~~782.9123 ~~531~~436,~~236~~544.6895 B-1 07384YJA5 SUB 4.~~61000~~62000% 5,~~584~~330,~~525~~835.2927 2221,~~169~~891.0196 ~~253~~208,~~690~~470.0336 B-2 07384YJB3 SUB 4.~~61000~~62000% 6,992,440.00 2728,~~758~~715.0462 0.00 R-1 07384YJE7 RES 0.00000% 0.00 0.00 0.00 R-2 07384YJF4 RES 0.00000% 0.00 0.00 0.00 R-3 07384YJG2 RES 0.00000% 0.00 0.00 0.00 C 07384YJD9 SEN 0.00000% 0.00 ~~169~~386,~~934~~507.6974 0.00 P 07384YJC1 SEN 0.00000% 100.00 0.00 0.00 Totals ~~293~~280,~~226~~223,~~767~~913.8050 1,~~447~~621,~~491~~520.0432 1310,~~002~~685,~~854~~125.3010

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 8380,~~411~~149,~~598~~662.5918 43,~~294~~572,~~327~~019.9402 0.00 A-2 0.00 2928,~~194~~052,~~059~~381.5176 1,~~502~~250,~~861~~060.8668 0.00 A-3 0.00 7570,~~384~~347,~~171~~872.7542 65,~~366~~256,~~477~~169.8284 0.00 A-4 0.00 53,400,000.00 222,500.00 0.00 A-IO 0.00 0.00 209,375.00 0.00 M-1 0.00 1514,~~347~~747,~~734~~537.1484 ~~796~~663,~~815~~608.3602 0.00 M-2 0.00 1110,~~162~~726,~~974~~429.2429 ~~584~~487,~~435~~327.5918 0.00 B-1 0.00 5,~~330~~122,~~835~~364.2791 ~~275~~230,~~859~~362.0432 0.00 B-2 0.00 6,992,440.00 2728,~~758~~715.0462 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 C 0.00 0.00 ~~169~~386,~~934~~507.6974 0.00 P 0.00 100.00 0.00 0.00 Totals 0.00 ~~280~~269,~~223~~538,~~913~~788.5040 1412,~~450~~306,~~345~~645.3442 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-1 100,000,000.00 8783,~~381~~411,~~087~~598.3459 0.00 0.00 0.00 0.00 A-2 35,000,000.00 3029,~~583~~194,~~380~~059.5751 0.00 0.00 0.00 0.00 A-3 100,996,000.00 8175,~~512~~384,~~903~~171.6175 0.00 65,~~128~~036,~~731~~299.8534 0.00 0.00 A-4 53,400,000.00 53,400,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 18,400,000.00 1615,~~078~~347,~~120~~734.0714 0.00 ~~730~~600,~~385~~196.9330 0.00 0.00 M-2 13,383,000.00 11,~~694~~162,~~210~~974.9224 0.00 ~~531~~436,~~236~~544.6895 0.00 0.00 B-1 6,391,000.00 5,~~584~~330,~~525~~835.2927 0.00 ~~253~~208,~~690~~470.0336 0.00 0.00 B-2 6,992,440.00 6,992,440.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 C 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 334,562,540.00 ~~293~~280,~~226~~223,~~767~~913.8050 0.00 76,~~644~~281,~~044~~510.4995 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 3,~~969~~261,~~488~~936.7541 8380,~~411~~149,~~598~~662.5918 0.~~83411599~~80149662 3,~~969~~261,~~488~~936.7541 A-2 1,~~389~~141,~~321~~677.0674 2928,~~194~~052,~~059~~381.5176 0.~~83411599~~80149662 1,~~389~~141,~~321~~677.0674 A-3 65,~~128~~036,~~731~~299.8534 7570,~~384~~347,~~171~~872.7542 0.~~74640750~~69654117 65,~~128~~036,~~731~~299.8534 A-4 0.00 53,400,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 ~~730~~600,~~385~~196.9330 1514,~~347~~747,~~734~~537.1484 0.~~83411599~~80149662 ~~730~~600,~~385~~196.9330 M-2 ~~531~~436,~~236~~544.6895 1110,~~162~~726,~~974~~429.2429 0.~~83411599~~80149662 ~~531~~436,~~236~~544.6895 B-1 ~~253~~208,~~690~~470.0336 5,~~330~~122,~~835~~364.2791 0.~~83411599~~80149662 ~~253~~208,~~690~~470.0336 B-2 0.00 6,992,440.00 1.00000000 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 C 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 1310,~~002~~685,~~854~~125.3010 ~~280~~269,~~223~~538,~~913~~788.5040 0.~~83758305~~80564545 1310,~~002~~685,~~854~~125.3010

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 100,000,000.00 ~~873~~834.~~81087340~~11598590 0.00000000 0.00000000 0.00000000 A-2 35,000,000.00 ~~873~~834.~~81087343~~11598600 0.00000000 0.00000000 0.00000000 A-3 100,996,000.00 ~~807~~746.~~09041556~~40749881 0.00000000 6049.~~68291665~~86632480 0.00000000 A-4 53,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 18,400,000.00 ~~873~~834.~~81087337~~11598587 0.00000000 3932.~~69488750~~61936413 0.00000000 M-2 13,383,000.00 ~~873~~834.~~81087350~~11598595 0.00000000 3932.~~69488754~~61936412 0.00000000 B-1 6,391,000.00 ~~873~~834.~~81087310~~11598654 0.00000000 3932.~~69488812~~61936473 0.00000000 B-2 6,992,440.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 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 A-1 0.00000000 3932.~~69488750~~61936410 ~~834~~801.~~11598590~~49662180 0.~~83411599~~80149662 3932.~~69488750~~61936410 A-2 0.00000000 3932.~~69488743~~61936400 ~~834~~801.~~11598600~~49662171 0.~~83411599~~80149662 3932.~~69488743~~61936400 A-3 0.00000000 6049.~~68291665~~86632480 ~~746~~696.~~40749881~~54117411 0.~~74640750~~69654117 6049.~~68291665~~86632480 A-4 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 3932.~~69488750~~61936413 ~~834~~801.~~11598587~~49662174 0.~~83411599~~80149662 3932.~~69488750~~61936413 M-2 0.00000000 3932.~~69488754~~61936412 ~~834~~801.~~11598595~~49662183 0.~~83411599~~80149662 3932.~~69488754~~61936412 B-1 0.00000000 3932.~~69488812~~61936473 ~~834~~801.~~11598654~~49662181 0.~~83411599~~80149662 3932.~~69488812~~61936473 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 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 C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 (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 A-1 100,000,000.00 4.46100% 8783,~~381~~411,~~087~~598.3459 ~~324~~310,~~839~~082.1962 0.00 0.00 A-2 35,000,000.00 4.45500% 3029,~~583~~194,~~380~~059.5751 ~~113~~108,~~540~~382.8095 0.00 0.00 A-3 100,996,000.00 3.50000% 8175,~~512~~384,~~903~~171.6175 ~~237~~219,~~745~~870.9750 0.00 0.00 A-4 53,400,000.00 5.00000% 53,400,000.00 222,500.00 0.00 0.00 A-IO 0.00 5.00000% 50,250,000.00 209,375.00 0.00 0.00 M-1 18,400,000.00 4.95800% 1615,~~078~~347,~~120~~734.0714 6663,~~429~~411.4372 0.00 0.00 M-2 13,383,000.00 5.45900% 11,~~694~~162,~~210~~974.9224 5350,~~198~~782.9123 0.00 0.00 B-1 6,391,000.00 4.~~61000~~62000% 5,~~584~~330,~~525~~835.2927 2221,~~169~~891.0196 0.00 0.00 B-2 6,992,440.00 4.~~61000~~62000% 6,992,440.00 2728,~~758~~715.0462 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 C 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 334,562,540.00 1,~~277~~235,~~556~~012.3560 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 ~~324~~310,~~839~~082.1961 0.00 8380,~~411~~149,~~598~~662.5918 A-2 0.00 0.00 ~~113~~108,~~540~~382.8094 0.00 2928,~~194~~052,~~059~~381.5176 A-3 0.00 0.00 ~~237~~219,~~745~~870.9750 0.00 7570,~~384~~347,~~171~~872.7542 A-4 0.00 0.00 222,500.00 0.00 53,400,000.00 A-IO 0.00 0.00 209,375.00 0.00 50,250,000.00 M-1 0.00 0.00 6663,~~429~~411.4372 0.00 1514,~~347~~747,~~734~~537.1484 M-2 0.00 0.00 5350,~~198~~782.9123 0.00 1110,~~162~~726,~~974~~429.2429 B-1 0.00 0.00 2221,~~169~~891.0196 0.00 5,~~330~~122,~~835~~364.2791 B-2 0.00 0.00 2728,~~758~~715.0462 0.00 6,992,440.00 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 C 0.00 0.00 ~~169~~386,~~934~~507.6974 0.00 0.00 P 0.00 0.00 0.00 0.00 100.00 Totals 0.00 0.00 1,~~447~~621,~~491~~520.0432 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 A-1 100,000,000.00 4.46100% ~~873~~834.~~81087340~~11598590 3.~~24839190~~10082620 0.00000000 0.00000000 A-2 35,000,000.00 4.45500% ~~873~~834.~~81087343~~11598600 3.~~24402286~~09665571 0.00000000 0.00000000 A-3 100,996,000.00 3.50000% ~~807~~746.~~09041556~~40749881 2.~~35401372~~17702186 0.00000000 0.00000000 A-4 53,400,000.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 M-1 18,400,000.00 4.95800% ~~873~~834.~~81087337~~11598587 3.~~61029511~~44628913 0.00000000 0.00000000 M-2 13,383,000.00 5.45900% ~~873~~834.~~81087350~~11598595 3.~~97511096~~79453262 0.00000000 0.00000000 B-1 6,391,000.00 4.~~61000~~62000% ~~873~~834.~~81087310~~11598654 3.~~46878579~~42543577 0.00000000 0.00000000 B-2 6,992,440.00 4.~~61000~~62000% 1000.00000000 34.~~96972159~~10666663 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 C 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 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 A-1 0.00000000 0.00000000 3.~~24839190~~10082610 0.00000000 ~~834~~801.~~11598590~~49662180 A-2 0.00000000 0.00000000 3.~~24402286~~09665543 0.00000000 ~~834~~801.~~11598600~~49662171 A-3 0.00000000 0.00000000 2.~~35401372~~17702186 0.00000000 ~~746~~696.~~40749881~~54117411 A-4 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 3.~~61029511~~44628913 0.00000000 ~~834~~801.~~11598587~~49662174 M-2 0.00000000 0.00000000 3.~~97511096~~79453262 0.00000000 ~~834~~801.~~11598595~~49662183 B-1 0.00000000 0.00000000 3.~~46878579~~42543577 0.00000000 ~~834~~801.~~11598654~~49662181 B-2 0.00000000 0.00000000 34.~~96972159~~10666663 0.00000000 1000.00000000 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 C 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 (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 1412,~~518~~373,~~469~~490.7347 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5148,~~339~~150.39 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1412,~~569~~421,~~809~~640.1286 Withdrawals Reimbursement for Servicer Advances 5251,~~889~~339.4739 Payment of Service Fee 6663,~~574~~656.3005 Payment of Interest and Principal 1412,~~450~~306,~~345~~645.3542 Total Withdrawals (Pool Distribution Amount) 1412,~~569~~421,~~809~~640.1286 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6158,~~385~~728.4346 Master Servicing Fee 4,~~910~~698.8429 Miscellaneous Fee ~~278~~229.0330 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6663,~~574~~656.3005

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 1310 0 0 0 1310 2,~~350~~099,~~776~~860.1570 0.00 0.00 0.00 2,~~350~~099,~~776~~860.1570 60 Days 106 0 0 0 106 21,~~824~~183,~~926~~875.6129 0.00 0.00 0.00 21,~~824~~183,~~926~~875.6129 90 Days 6 0 0 0 6 1,~~066~~887,~~408~~704.0141 0.00 0.00 0.00 1,~~066~~887,~~408~~704.0141 120 Days 36 0 0 0 36 ~~861~~1,~~636~~432,994.5565 0.00 0.00 0.00 ~~861~~1,~~636~~432,994.5565 150 Days 1 0 0 0 1 ~~127~~130,~~895~~490.0881 0.00 0.00 0.00 ~~127~~130,~~895~~490.0881 180+ Days 12 0 0 0 12 ~~150~~277,~~550~~978.0032 0.00 0.00 0.00 ~~150~~277,~~550~~978.0032 Totals 3431 0 0 0 3431 7,~~382~~012,~~192~~904.4018 0.00 0.00 0.00 7,~~382~~012,~~192~~904.4018 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 10.~~183971~~940734% 0.000000% 0.000000% 0.000000% 10.~~183971~~940734% 0.~~833084~~773509% 0.000000% 0.000000% 0.000000% 0.~~833084~~773509% 60 Days 0.~~910747~~564440% 0.000000% 0.000000% 0.000000% 0.~~910747~~564440% 10.~~001117~~436095% 0.000000% 0.000000% 0.000000% 10.~~001117~~436095% 90 Days 0.~~546448~~564440% 0.000000% 0.000000% 0.000000% 0.~~546448~~564440% 0.~~377921~~695359% 0.000000% 0.000000% 0.000000% 0.~~377921~~695359% 120 Days 0.~~273224~~564440% 0.000000% 0.000000% 0.000000% 0.~~273224~~564440% 0.~~305353~~527861% 0.000000% 0.000000% 0.000000% 0.~~305353~~527861% 150 Days 0.~~091075~~094073% 0.000000% 0.000000% 0.000000% 0.~~091075~~094073% 0.~~045324~~048068% 0.000000% 0.000000% 0.000000% 0.~~045324~~048068% 180+ Days 0.~~091075~~188147% 0.000000% 0.000000% 0.000000% 0.~~091075~~188147% 0.~~053353~~102397% 0.000000% 0.000000% 0.000000% 0.~~053353~~102397% Totals 32.~~096539~~916275% 0.000000% 0.000000% 0.000000% 32.~~096539~~916275% 2.~~616152~~583288% 0.000000% 0.000000% 0.000000% 2.~~616152~~583288%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5148,~~339~~150.39

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 7.~~182044~~173593% Weighted Average Net Coupon 6.~~932044~~923593% Weighted Average Pass-Through Rate 6.~~910911~~902617% Weighted Average Maturity(Stepdown Calculation ) ~~331~~330 Beginning Scheduled Collateral Loan Count 1,~~139~~098 Number Of Loans Paid In Full 4135 Ending Scheduled Collateral Loan Count 1,~~098~~063 Beginning Scheduled Collateral Balance ~~294~~281,~~650~~896,~~053~~625.8149 Ending Scheduled Collateral Balance ~~281~~271,~~896~~211,~~625~~500.4940 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~282~~271,~~177~~472,~~496~~031.5349 Monthly P &I Constant 21,~~062~~975,~~098~~683.5005 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~281~~271,~~896~~211,~~625~~500.4940 Scheduled Principal ~~298~~290,~~607~~073.1872 Unscheduled Principal 1210,~~454~~395,~~821~~051.1437 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~249,425~~0.9800 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,672,812.00 Overcollateralized Amount 1,672,812.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~249,425~~0.9800 Excess Cash Amount ~~419~~386,~~360~~507.6673

Miscellaneous Reporting Three month rolling average 0.~~012870~~016282%

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC ASSET BK CERT SER 03 AC2