8-K 1 bsa03ac4.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-AC4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-08 54-2123789 Pooling and Servicing Agreement) (Commission 54-2123788 (State or other File Number) 54-2123790 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-AC4 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-AC4 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-AC4 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-AC4 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-AC4 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 07384YKF2 SEN 5.00000% ~~749~~730,~~696~~552,~~000~~550.0032 3,~~123~~043,~~733~~968.3396 1913,~~143~~224,~~449~~746.6831 A-IO 07384YKG0 IO 5.00000% 0.00 359,050.00 0.00 M-1 07384YKH8 MEZ 5.15800% 4443,~~810~~665,~~000~~778.0090 ~~192~~187,~~608~~690.3207 1790,~~144,221~~454.1091 M-2 07384YKJ4 MEZ 2.~~91000~~92000% 3534,~~330~~427,~~000~~850.0023 7789,~~107~~359.7240 ~~902~~623,~~149~~226.7733 BA 07384YKK1 SUB 4.~~16000~~17000% 2019,~~725~~910,~~000~~835.0001 6473,~~662~~802.0083 ~~814~~562,~~164~~444.9937 BB 07384YKS4 SUB 6.25000% 11,159,339.00 58,121.56 0.00 C 07384YKU9 SEN 0.00000% 0.00 0.00 0.00 P 07384YKT2 SEN 0.00000% 100.00 0.00 0.00 R1 07384YKV7 RES 0.00000% 0.00 0.00 0.00 R2 07384YKW5 RES 0.00000% 0.00 0.00 0.00 R3 07384YKX3 RES 0.00000% 0.00 0.00 0.00 Totals ~~861~~839,~~720~~716,~~439~~453.0046 3,~~875~~811,~~282~~992.9382 2215,~~003~~200,~~985~~871.5492

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~730~~717,~~552~~327,~~550~~804.3201 2216,~~267~~268,~~183~~715.0127 0.00 A-IO 0.00 0.00 359,050.00 0.00 M-1 0.00 4342,~~665~~875,~~778~~324.9000 1978,~~336,829~~144.4298 0.00 M-2 0.00 3433,~~427~~804,~~850~~623.2390 ~~979~~712,~~257~~585.4973 0.00 BA 0.00 19,~~910~~348,~~835~~390.0164 ~~878~~636,~~826~~247.9920 0.00 BB 0.00 11,159,339.00 58,121.56 0.00 C 0.00 0.00 0.00 0.00 P 0.00 100.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~839~~824,~~716~~515,~~453~~581.4655 2519,~~879~~012,~~268~~864.4774 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 749,696,000.00 ~~749~~730,~~696~~552,~~000~~550.0032 0.00 1913,~~143~~224,~~449~~746.6831 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 44,810,000.00 4443,~~810~~665,~~000~~778.0090 0.00 1790,~~144,221~~454.1091 0.00 0.00 M-2 35,330,000.00 3534,~~330~~427,~~000~~850.0023 0.00 ~~902~~623,~~149~~226.7733 0.00 0.00 BA 20,725,000.00 2019,~~725~~910,~~000~~835.0001 0.00 ~~814~~562,~~164~~444.9937 0.00 0.00 BB 11,159,339.00 11,159,339.00 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 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 861,720,439.00 ~~861~~839,~~720~~716,~~439~~453.0046 0.00 2215,~~003~~200,~~985~~871.5492 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 1913,~~143~~224,~~449~~746.6831 ~~730~~717,~~552~~327,~~550~~804.3201 0.~~97446505~~95682491 1913,~~143~~224,~~449~~746.6831 A-IO 0.00 0.00 0.00000000 0.00 M-1 1790,~~144,221~~454.1091 4342,~~665~~875,~~778~~324.9000 0.~~97446505~~95682491 1790,~~144,221~~454.1091 M-2 ~~902~~623,~~149~~226.7733 3433,~~427~~804,~~850~~623.2390 0.~~97446505~~95682491 ~~902~~623,~~149~~226.7733 BA ~~814~~562,~~164~~444.9937 19,~~910~~348,~~835~~390.0164 0.~~96071580~~93357735 ~~814~~562,~~164~~444.9937 BB 0.00 11,159,339.00 1.00000000 0.00 C 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 2215,~~003~~200,~~985~~871.5492 ~~839~~824,~~716~~515,~~453~~581.4655 0.~~97446505~~95682491 2215,~~003~~200,~~985~~871.5492

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 749,696,000.00 ~~1000~~974.~~00000000~~46505026 0.00000000 2517.~~53494974~~64014522 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 44,810,000.00 ~~1000~~974.~~00000000~~46505021 0.00000000 2517.~~53494979~~64014528 0.00000000 M-2 35,330,000.00 ~~1000~~974.~~00000000~~46505038 0.00000000 2517.~~53494962~~64014520 0.00000000 BA 20,725,000.00 ~~1000~~960.~~00000000~~71580265 0.00000000 3927.~~28419735~~13844970 0.00000000 BB 11,159,339.00 1000.00000000 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 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 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 0.00000000 2517.~~53494974~~64014522 ~~974~~956.~~46505026~~82490504 0.~~97446505~~95682491 2517.~~53494974~~64014522 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 2517.~~53494979~~64014528 ~~974~~956.~~46505021~~82490516 0.~~97446505~~95682491 2517.~~53494979~~64014528 M-2 0.00000000 2517.~~53494962~~64014520 ~~974~~956.~~46505038~~82490518 0.~~97446505~~95682491 2517.~~53494962~~64014520 BA 0.00000000 3927.~~28419735~~13844970 ~~960~~933.~~71580265~~57735296 0.~~96071580~~93357735 3927.~~28419735~~13844970 BB 0.00000000 0.00000000 1,000.00000000 1.00000000 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 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 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 749,696,000.00 5.00000% ~~749~~730,~~696~~552,~~000~~550.0032 3,~~123~~043,~~733~~968.3396 0.00 0.00 A-IO 0.00 5.00000% 86,172,000.00 359,050.00 0.00 0.00 M-1 44,810,000.00 5.15800% 4443,~~810~~665,~~000~~778.0090 ~~192~~187,~~608~~690.3207 0.00 0.00 M-2 35,330,000.00 2.~~91000~~92000% 3534,~~330~~427,~~000~~850.0023 7789,~~107~~359.7340 0.00 0.00 BA 20,725,000.00 4.~~16000~~17000% 2019,~~725~~910,~~000~~835.0001 6473,~~662~~802.0083 0.00 0.00 BB 11,159,339.00 6.25000% 11,159,339.00 58,121.56 0.00 0.00 C 0.00 0.00000% ~~861~~840,~~720~~385,~~339~~753.1671 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 861,720,439.00 3,~~875~~811,~~282~~992.9482 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 0.00 0.00 3,~~123~~043,~~733~~968.3396 0.00 ~~730~~717,~~552~~327,~~550~~804.3201 A-IO 0.00 0.00 359,050.00 0.00 86,172,000.00 M-1 0.00 0.00 ~~192~~187,~~608~~690.3207 0.00 4342,~~665~~875,~~778~~324.9000 M-2 0.00 0.00 7789,~~107~~359.7240 0.00 3433,~~427~~804,~~850~~623.2390 BA 0.00 0.00 6473,~~662~~802.0083 0.00 19,~~910~~348,~~835~~390.0164 BB 0.00 0.00 58,121.56 0.00 11,159,339.00 C 0.00 0.00 0.00 0.00 ~~840~~825,~~385~~798,~~753~~896.7121 P 0.00 0.00 0.00 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~875~~811,~~282~~992.9382 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 749,696,000.00 5.00000% ~~1000~~974.~~00000000~~46505026 4.~~16666666~~06027104 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 M-1 44,810,000.00 5.15800% ~~1000~~974.~~00000000~~46505021 4.~~29833341~~18857554 0.00000000 0.00000000 M-2 35,330,000.00 2.~~91000~~92000% ~~1000~~974.~~00000000~~46505038 2.~~18250014~~52927823 0.00000000 0.00000000 BA 20,725,000.00 4.~~16000~~17000% ~~1000~~960.~~00000000~~71580265 3.~~12000000~~56105332 0.00000000 0.00000000 BB 11,159,339.00 6.25000% 1000.00000000 5.20833358 0.00000000 0.00000000 C 0.00 0.00000% ~~1000~~975.~~00000000~~24186853 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 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 0.00000000 0.00000000 4.~~16666666~~06027104 0.00000000 ~~974~~956.~~46505026~~82490504 A-IO 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 4.~~29833341~~18857554 0.00000000 ~~974~~956.~~46505021~~82490516 M-2 0.00000000 0.00000000 2.~~18249986~~52927823 0.00000000 ~~974~~956.~~46505038~~82490518 BA 0.00000000 0.00000000 3.~~12000000~~56105332 0.00000000 ~~960~~933.~~71580265~~57735296 BB 0.00000000 0.00000000 5.20833358 0.00000000 1000.00000000 C 0.00000000 0.00000000 0.00000000 0.00000000 ~~975~~958.~~24186853~~31426819 P 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 2519,~~958~~092,~~672~~028.0257 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~100~~196,~~427~~537.9353 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2619,~~059~~288,~~099~~566.9510 Withdrawals Reimbursement for Servicer Advances 0100,427.0093 Payment of Service Fee ~~179~~175,~~831~~273.4843 Payment of Interest and Principal 2519,~~879~~012,~~268~~864.4774 Total Withdrawals (Pool Distribution Amount) 2619,~~059~~288,~~099~~566.9510 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~179~~175,~~525~~080.0736 Miscellaneous Fee ~~306~~193.4107 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~179~~175,~~831~~273.4843

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Net WAC Reserve Fund 5,000.00 34,~~917~~117.3013 34,~~917~~117.3013 5,000.00

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 58135 0 0 0 58135 1428,~~411~~181,~~998~~301.9438 0.00 0.00 0.00 1428,~~411~~181,~~998~~301.9438 60 Days 86 0 0 0 86 1,~~270~~233,~~283~~372.5357 0.00 0.00 0.00 1,~~270~~233,~~283~~372.5357 90 Days 02 0 0 0 02 0176,216.0084 0.00 0.00 0.00 0176,216.0084 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 66143 0 0 0 66143 1529,~~682~~590,~~282~~890.4779 0.00 0.00 0.00 1529,~~682~~590,~~282~~890.4779 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 13.~~568840~~698630% 0.000000% 0.000000% 0.000000% 13.~~568840~~698630% 13.~~713367~~409512% 0.000000% 0.000000% 0.000000% 13.~~713367~~409512% 60 Days 0.~~216392~~164384% 0.000000% 0.000000% 0.000000% 0.~~216392~~164384% 0.~~151017~~149219% 0.000000% 0.000000% 0.000000% 0.~~151017~~149219% 90 Days 0.~~000000~~054795% 0.000000% 0.000000% 0.000000% 0.~~000000~~054795% 0.~~000000~~021320% 0.000000% 0.000000% 0.000000% 0.~~000000~~021320% 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 13.~~785231~~917808% 0.000000% 0.000000% 0.000000% 13.~~785231~~917808% 13.~~864385~~580051% 0.000000% 0.000000% 0.000000% 13.~~864385~~580051%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~100~~196,~~427~~537.9353

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~579186~~570241% Weighted Average Net Coupon 6.~~329186~~320241% Weighted Average Pass-Through Rate 6.~~328760~~319965% Weighted Average Maturity(Stepdown Calculation ) ~~331~~330 Beginning Scheduled Collateral Loan Count 3,~~765~~697 Number Of Loans Paid In Full 6847 Ending Scheduled Collateral Loan Count 3,~~697~~650 Beginning Scheduled Collateral Balance ~~861~~840,~~720~~385,~~439~~753.0071 Ending Scheduled Collateral Balance ~~840~~825,~~385~~798,~~753~~896.7121 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~841~~826,~~150~~549,~~506~~422.8216 Monthly P &I Constant 5,~~674~~537,~~656~~189.5797 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 ~~840~~825,~~385~~798,~~753~~896.7121 Scheduled Principal ~~950~~935,~~075~~807.3740 Unscheduled Principal 2013,~~384~~651,~~509~~050.1110 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~669~~614,~~401~~014.0741 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,308,602.00 Overcollateralized Amount ~~669~~1,~~400~~283,414.2667 Overcollateralized Deficiency Amount 3,~~639~~025,~~201~~187.7433 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~669~~614,~~401~~014.0741 Excess Cash Amount ~~669~~614,~~401~~014.0842

Miscellaneous Reporting Net WAC Rate Carryover Amount Class A 0.00 Net WAC Rate Carryover Amount Class BA 0.00 Net WAC Rate Carryover Amount Class BB 34,~~917~~117.3013 Net WAC Rate Carryover Amount Class M1 0.00 Net WAC Rate Carryover Amount Class M2 0.00 Three month rolling average 0.~~001512~~001609%

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