8-K 1 bst02002.txt DECEMBER 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): December 26, 2003 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-21 45-0470721 Pooling and Servicing Agreement) (Commission 45-0470722 (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 December 26, 2003 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-2 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 Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the December 26, 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 2002-2 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the December 26, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 BST Series: 2002-2 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 I-A 07384MJB9 SEN 2.~~89926~~84406% 8684,~~343~~881,~~897~~016.2620 ~~204~~201,~~299~~172.5112 ~~167~~708,~~254~~603.7379 II-A 07384MJE3 SEN 65.~~12095~~82808% 117,~~110~~740,~~139~~132.7873 5537,~~499~~591.1876 1695,~~158,692~~152.3623 III-A 07384MJF0 SEN 6.~~77774~~76151% 139,~~892~~082,~~990~~625.4226 7651,~~847~~176.2891 31,~~629~~186,~~983~~752.1482 R-1 07384MJC7 RES 3.~~62288~~62433% 0.00 0.00 0.00 R-2 07384MJD5 RES 3.~~62288~~62433% 0.00 0.00 0.00 B-1 07384MJG8 SUB 4.~~78851~~69244% 4,~~665~~659,~~609~~561.2766 18,~~232~~220.9559 3129,~~009~~668.5135 B-2 07384MJH6 SUB 4.~~78851~~69244% 2,~~099~~097,~~741~~019.4473 8,~~205~~200.6811 158,~~354~~356.4279 B-3 07384MJJ2 SUB 4.~~78851~~69244% 1,~~399~~397,~~663~~848.0377 5,~~469~~466.8110 ~~902~~38,899.8495 B-4 07384MJT0 SUB 4.~~78851~~69244% ~~933~~931,~~141~~932.6106 3,~~646~~644.6719 ~~601~~25,934.9122 B-5 07384MJU7 SUB 4.~~78851~~69244% ~~699~~698,~~782~~875.1407 2,~~734~~732.7186 ~~451~~19,448.3961 B-6 07384MJV5 SUB 4.~~78851~~69244% ~~700~~699,~~044~~137.9655 2,~~735~~733.7488 ~~451~~19,455.5691 Totals ~~121~~112,~~845~~188,~~009~~149.9103 ~~377~~330,~~671~~938.5352 42,~~962~~882,~~701~~272.8667

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 8684,~~176~~172,~~642~~412.5341 ~~371~~909,~~554~~775.2491 0.00 II-A 0.00 97,~~951~~044,~~447~~980.4349 1732,~~214,191~~743.5499 0.00 III-A 0.00 107,~~263~~895,~~007~~872.2844 31,~~706~~237,~~830~~929.4273 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 B-1 0.00 4,~~662~~529,~~599~~893.7732 21147,~~242~~888.4694 0.00 B-2 0.00 2,~~098~~038,~~387~~662.0293 966,~~560~~556.1090 0.00 B-3 0.00 1,~~398~~358,~~760~~948.1982 644,~~372~~366.6505 0.00 B-4 0.00 ~~932~~905,~~539~~997.6984 429,~~248~~578.5841 0.00 B-5 0.00 ~~699~~679,~~330~~426.7547 322,~~186~~181.1047 0.00 B-6 0.00 ~~699~~679,~~593~~681.4064 322,~~187~~189.3079 0.00 Totals 0.00 ~~116~~109,~~882~~305,~~308~~876.0636 53,~~340~~213,~~373~~211.3919 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 106,205,800.00 8684,~~343~~881,~~897~~016.2620 0.00 ~~167~~708,~~254~~603.7379 0.00 0.00 II-A 48,612,400.00 117,~~110~~740,~~139~~132.7873 149,~~442~~663.4061 1685,~~144,249~~488.9662 0.00 0.00 III-A 70,774,500.00 139,~~892~~082,~~990~~625.4226 1611,~~480~~486.6422 31,~~613~~175,~~502~~266.5060 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 B-1 4,724,400.00 4,~~665~~659,~~609~~561.2766 3,~~009~~063.5188 0126,604.0046 0.00 0.00 B-2 2,126,200.00 2,~~099~~097,~~741~~019.4473 1,~~354~~378.4289 056,977.0090 0.00 0.00 B-3 1,417,300.00 1,~~399~~397,~~663~~848.0377 ~~902~~919.8415 037,980.0080 0.00 0.00 B-4 944,900.00 ~~933~~931,~~141~~932.6106 ~~601~~612.9179 025,321.0043 0.00 0.00 B-5 708,600.00 ~~699~~698,~~782~~875.1407 ~~451~~459.3954 018,989.0006 0.00 0.00 B-6 708,866.18 ~~700~~699,~~044~~137.9655 ~~451~~459.5672 018,996.0019 0.00 0.00 Totals 236,223,066.18 ~~121~~112,~~845~~188,~~009~~149.9103 3728,~~694~~043.6780 42,~~925~~854,~~007~~228.1985 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 ~~167~~708,~~254~~603.7379 8684,~~176~~172,~~642~~412.5341 0.~~81141183~~79254064 ~~167~~708,~~254~~603.7379 II-A 1695,~~158,692~~152.3623 97,~~951~~044,~~447~~980.4349 0.~~20471006~~14492147 1695,~~158,692~~152.3623 III-A 31,~~629~~186,~~983~~752.1482 107,~~263~~895,~~007~~872.2844 0.~~14500996~~11156380 31,~~629~~186,~~983~~752.1482 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 B-1 3129,~~009~~668.5135 4,~~662~~529,~~599~~893.7732 0.~~98691893~~95882934 3129,~~009~~668.5135 B-2 158,~~354~~356.4279 2,~~098~~038,~~387~~662.0293 0.~~98691893~~95882933 158,~~354~~356.4279 B-3 ~~902~~38,899.8495 1,~~398~~358,~~760~~948.1982 0.~~98691892~~95882934 ~~902~~38,899.8495 B-4 ~~601~~25,934.9122 ~~932~~905,~~539~~997.6984 0.~~98691892~~95882934 ~~601~~25,934.9122 B-5 ~~451~~19,448.3961 ~~699~~679,~~330~~426.7547 0.~~98691892~~95882934 ~~451~~19,448.3961 B-6 ~~451~~19,455.5691 ~~699~~679,~~593~~681.4064 0.~~98691886~~95882927 ~~451~~19,455.5691 Totals 42,~~962~~882,~~701~~272.8667 ~~116~~109,~~882~~305,~~308~~876.0636 0.~~49479634~~46272313 42,~~962~~882,~~701~~272.8667

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 106,205,800.00 ~~812~~799.~~98664725~~21262492 0.00000000 16.~~57481729~~67198769 0.00000000 II-A 48,612,400.00 ~~228~~159.~~54538719~~22136595 0.~~29709292~~19878899 2314.~~53823222~~10110630 0.00000000 III-A 70,774,500.00 ~~196~~128.~~29937930~~33188875 0.~~23286127~~16229320 5116.~~05655992~~60579163 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 B-1 4,724,400.00 ~~987~~986.~~55593726~~27585725 0.~~63701422~~64852256 026.~~00000000~~79799763 0.00000000 B-2 2,126,200.00 ~~987~~986.~~55594017~~27585834 0.~~63701439~~64852319 026.~~00000000~~79799643 0.00000000 B-3 1,417,300.00 ~~987~~986.~~55593735~~27585550 0.~~63701404~~64852184 026.~~00000000~~79799619 0.00000000 B-4 944,900.00 ~~987~~986.~~55594243~~27585988 0.~~63700921~~64852365 026.~~00000000~~79799979 0.00000000 B-5 708,600.00 ~~987~~986.~~55594129~~27585380 0.~~63701665~~64851820 026.~~00000000~~79799605 0.00000000 B-6 708,866.18 ~~987~~986.~~55587409~~27578762 0.~~63701727~~64852861 026.~~00000000~~79799169 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 16.~~57481729~~67198769 ~~811~~792.~~41182996~~54063723 0.~~81141183~~79254064 16.~~57481729~~67198769 II-A 0.00000000 2314.~~83532514~~29989529 ~~204~~144.~~71006225~~92147045 0.~~20471006~~14492147 2314.~~83532514~~29989529 III-A 0.00000000 5116.~~28942119~~76808483 ~~145~~111.~~00995811~~56380391 0.~~14500996~~11156380 5116.~~28942119~~76808483 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 027.~~63701422~~44652231 ~~986~~958.~~91892515~~82933706 0.~~98691893~~95882934 027.~~63701422~~44652231 B-2 0.00000000 027.~~63701439~~44651961 ~~986~~958.~~91892578~~82933402 0.~~98691893~~95882933 027.~~63701439~~44651961 B-3 0.00000000 027.~~63701404~~44651803 ~~986~~958.~~91892330~~82933747 0.~~98691892~~95882934 027.~~63701404~~44651803 B-4 0.00000000 027.~~63700921~~44652344 ~~986~~958.~~91892264~~82933644 0.~~98691892~~95882934 027.~~63700921~~44652344 B-5 0.00000000 027.~~63701665~~44652837 ~~986~~958.~~91892464~~82933954 0.~~98691892~~95882934 027.~~63701665~~44652837 B-6 0.00000000 027.~~63701727~~44652030 ~~986~~958.~~91885681~~82926732 0.~~98691886~~95882927 027.~~63701727~~44652030 (3) Amount Does Not Include Excess Special Hazard, 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 106,205,800.00 2.~~89926~~84406% 8684,~~343~~881,~~897~~016.2620 ~~208~~201,~~611~~172.3814 0.00 0.00 II-A 48,612,400.00 65.~~12095~~82808% 117,~~110~~740,~~139~~132.7873 5637,~~670~~591.5376 0.00 0.00 III-A 70,774,500.00 6.~~77774~~76151% 139,~~892~~082,~~990~~625.4226 7851,~~469~~176.1991 0.00 0.00 R-1 50.00 3.~~62288~~62433% 0.00 0.00 0.00 0.00 R-2 50.00 3.~~62288~~62433% 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4.~~78851~~69244% 4,~~665~~659,~~609~~561.2766 18,~~617~~220.7759 0.00 0.00 B-2 2,126,200.00 4.~~78851~~69244% 2,~~099~~097,~~741~~019.4473 8,~~378~~200.8611 0.00 0.00 B-3 1,417,300.00 4.~~78851~~69244% 1,~~399~~397,~~663~~848.0377 5,~~585~~466.2510 0.00 0.00 B-4 944,900.00 4.~~78851~~69244% ~~933~~931,~~141~~932.6106 3,~~723~~644.6319 0.00 0.00 B-5 708,600.00 4.~~78851~~69244% ~~699~~698,~~782~~875.1407 2,~~792~~732.4386 0.00 0.00 B-6 708,866.18 4.~~78851~~69244% ~~700~~699,~~044~~137.9655 2,~~793~~733.4888 0.00 0.00 Totals 236,223,066.18 ~~385~~330,~~642~~938.5254 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 ~~4,311~~0.8701 0.00 ~~204~~201,~~299~~172.5112 0.00 8684,~~176~~172,~~642~~412.5341 II-A ~~1,171~~0.3500 0.00 5537,~~499~~591.1876 0.00 97,~~951~~044,~~447~~980.4349 III-A ~~1,621~~0.9100 0.00 7651,~~847~~176.2891 0.00 107,~~263~~895,~~007~~872.2844 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 B-1 ~~384~~0.8200 0.00 18,~~232~~220.9559 0.00 4,~~662~~529,~~599~~893.7732 B-2 ~~173~~0.1900 0.00 8,~~205~~200.6811 0.00 2,~~098~~038,~~387~~662.0293 B-3 ~~115~~0.4400 0.00 5,~~469~~466.8110 0.00 1,~~398~~358,~~760~~948.1982 B-4 760.9700 0.00 3,~~646~~644.6719 0.00 ~~932~~905,~~539~~997.6984 B-5 570.7200 0.00 2,~~734~~732.7186 0.00 ~~699~~679,~~330~~426.7547 B-6 570.7400 0.00 2,~~735~~733.7488 0.00 ~~699~~679,~~593~~681.4064 Totals ~~7,971~~0.01 0.00 ~~377~~330,~~671~~938.5352 0.00 (4) Amount Does Not Include Excess Special Hazard, 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 106,205,800.00 2.~~89926~~84406% ~~812~~799.~~98664725~~21262492 1.~~96421834~~89417282 0.00000000 0.00000000 II-A 48,612,400.00 65.~~12095~~82808% ~~228~~159.~~54538719~~22136595 10.~~16576285~~77329570 0.00000000 0.00000000 III-A 70,774,500.00 6.~~77774~~76151% ~~196~~128.~~29937930~~33188875 10.~~10872122~~72309815 0.00000000 0.00000000 R-1 50.00 3.~~62288~~62433% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 3.~~62288~~62433% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 4.~~78851~~69244% ~~987~~986.~~55593726~~27585725 3.~~94076920~~85669926 0.00000000 0.00000000 B-2 2,126,200.00 4.~~78851~~69244% ~~987~~986.~~55594017~~27585834 3.~~94076757~~85669739 0.00000000 0.00000000 B-3 1,417,300.00 4.~~78851~~69244% ~~987~~986.~~55593735~~27585550 3.~~94076766~~85669936 0.00000000 0.00000000 B-4 944,900.00 4.~~78851~~69244% ~~987~~986.~~55594243~~27585988 3.~~94076622~~85669383 0.00000000 0.00000000 B-5 708,600.00 4.~~78851~~69244% ~~987~~986.~~55594129~~27585380 3.~~94077053~~85670336 0.00000000 0.00000000 B-6 708,866.18 4.~~78851~~69244% ~~987~~986.~~55587409~~27578762 3.~~94077201~~85669408 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.~~04059920~~00000009 0.00000000 1.~~92361914~~89417263 0.00000000 ~~811~~792.~~41182996~~54063723 II-A 0.~~02409570~~00000000 0.00000000 10.~~14166715~~77329570 0.00000000 ~~204~~144.~~71006225~~92147045 III-A 0.~~02291659~~00000000 0.00000000 10.~~08580463~~72309815 0.00000000 ~~145~~111.~~00995811~~56380391 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~08145373~~00000000 0.00000000 3.~~85931547~~85669926 0.00000000 ~~986~~958.~~91892515~~82933706 B-2 0.~~08145518~~00000000 0.00000000 3.~~85931709~~85669739 0.00000000 ~~986~~958.~~91892578~~82933402 B-3 0.~~08145065~~00000000 0.00000000 3.~~85931701~~85669936 0.00000000 ~~986~~958.~~91892330~~82933747 B-4 0.~~08145836~~00000000 0.00000000 3.~~85931845~~85669383 0.00000000 ~~986~~958.~~91892264~~82933644 B-5 0.~~08145639~~00000000 0.00000000 3.~~85931414~~85670336 0.00000000 ~~986~~958.~~91892464~~82933954 B-6 0.~~08145402~~00000000 0.00000000 3.~~85931799~~85669408 0.00000000 ~~986~~958.~~91885681~~82926732 (6) Amount Does Not Include Excess Special Hazard, 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 53,~~387~~232,~~667~~693.0796 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 521,~~416~~740.3382 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 53,~~393~~254,~~083~~434.4078 Withdrawals Reimbursement for Servicer Advances 135,~~618~~229.0488 Payment of Service Fee 3935,~~091~~993.9771 Payment of Interest and Principal 53,~~340~~213,~~373~~211.3919 Total Withdrawals (Pool Distribution Amount) 53,~~393~~254,~~083~~434.4078 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 ~~7,971~~0.00

SERVICING FEES Gross Servicing Fee 3835,~~076~~058.5980 Master Servicing Fee ~~1,015~~934.3891 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3935,~~091~~993.9771

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 1 0 0 1 ~~167~~140,~~600~~000.00 0.00 0.00 ~~167~~140,~~600~~000.00 30 Days 310 01 0 0 311 14,~~149~~522,~~249~~559.9489 0167,600.00 0.00 0.00 14,~~149~~690,~~249~~159.9489 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~263,840~~0.9300 0.00 0.00 0.00 ~~263,840~~0.9300 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 01 0 0 01 0.00 0263,840.0093 0.00 0.00 0263,840.0093 180+ Days 0 2 0 1 3 0.00 263,372.63 0.00 163,200.00 426,572.63 Totals 410 35 0 1 816 14,~~413~~522,~~090~~559.8789 ~~430~~834,~~972~~813.6356 0.00 163,200.00 25,~~007~~520,~~263~~573.5045 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.~~306748~~322581% 0.000000% 0.000000% 0.~~306748~~322581% 0.~~143358~~128052% 0.000000% 0.000000% 0.~~143358~~128052% 30 Days 03.~~920245~~225806% 0.~~000000~~322581% 0.000000% 0.000000% 03.~~920245~~548387% 04.~~983019~~136598% 0.~~000000~~153297% 0.000000% 0.000000% 04.~~983019~~289895% 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.~~306748~~000000% 0.000000% 0.000000% 0.000000% 0.~~306748~~000000% 0.~~225678~~000000% 0.000000% 0.000000% 0.000000% 0.~~225678~~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~~322581% 0.000000% 0.000000% 0.~~000000~~322581% 0.000000% 0.~~000000~~241324% 0.000000% 0.000000% 0.~~000000~~241324% 180+ Days 0.000000% 0.~~613497~~645161% 0.000000% 0.~~306748~~322581% 0.~~920245~~967742% 0.000000% 0.~~225278~~240896% 0.000000% 0.~~139594~~149272% 0.~~364872~~390168% Totals 13.~~226994~~225806% 01.~~920245~~612903% 0.000000% 0.~~306748~~322581% 25.~~453988~~161290% 14.~~208697~~136598% 0.~~368635~~763569% 0.000000% 0.~~139594~~149272% 15.~~716926~~049440%

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 1 0 0 1 ~~167~~140,~~600~~000.00 0.00 0.00 ~~167~~140,~~600~~000.00 30 Days 28 01 0 0 29 12,~~006~~583,~~285~~422.3441 0167,600.00 0.00 0.00 12,~~006~~751,~~285~~022.3441 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 2 0 1 3 0.00 263,372.63 0.00 163,200.00 426,572.63 Totals 28 34 0 1 613 12,~~006~~583,~~285~~422.3441 ~~430~~570,972.63 0.00 163,200.00 13,~~600~~317,~~457~~595.9704 0-29 Days 0.~~358423~~367647% 0.000000% 0.000000% 0.~~358423~~367647% 0.~~183810~~157027% 0.000000% 0.000000% 0.~~183810~~157027% 30 Days 02.~~716846~~941176% 0.~~000000~~367647% 0.000000% 0.000000% 03.~~716846~~308824% 12.~~103611~~897623% 0.~~000000~~187984% 0.000000% 0.000000% 13.~~103611~~085606% 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.~~716846~~735294% 0.000000% 0.~~358423~~367647% 1.~~075269~~102941% 0.000000% 0.~~288846~~295404% 0.000000% 0.~~178984~~183049% 0.~~467830~~478453% Totals 02.~~716846~~941176% 1.~~075269~~470588% 0.000000% 0.~~358423~~367647% 24.~~150538~~779412% 12.~~103611~~897623% 0.~~472656~~640415% 0.000000% 0.~~178984~~183049% 13.~~755251~~721087% 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 1 0 0 0 1 ~~142~~1,~~964~~612,763.6003 0.00 0.00 0.00 ~~142~~1,~~964~~612,763.6003 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 10 0 0 0 10 ~~263,840~~0.9300 0.00 0.00 0.00 ~~263,840~~0.9300 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 01 0 0 01 0.00 0263,840.0093 0.00 0.00 0263,840.0093 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 21 01 0 0 2 ~~406~~1,~~805~~612,763.5303 0263,840.0093 0.00 0.00 ~~406~~1,~~805~~876,603.5396 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 45.~~347826~~263158% 0.000000% 0.000000% 0.000000% 45.~~347826~~263158% 117.~~171248~~518366% 0.000000% 0.000000% 0.000000% 117.~~171248~~518366% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 40.~~347826~~000000% 0.000000% 0.000000% 0.000000% 40.~~347826~~000000% 20.~~161536~~000000% 0.000000% 0.000000% 0.000000% 20.~~161536~~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% 05.~~000000~~263158% 0.000000% 0.000000% 05.~~000000~~263158% 0.000000% 02.~~000000~~865928% 0.000000% 0.000000% 02.~~000000~~865928% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 85.~~695652~~263158% 05.~~000000~~263158% 0.000000% 0.000000% 810.~~695652~~526316% 317.~~332784~~518366% 02.~~000000~~865928% 0.000000% 0.000000% 320.~~332784~~384294% 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 01 0 0 0 01 0326,374.0045 0.00 0.00 0.00 0326,374.0045 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 01 0 0 0 01 0326,374.0045 0.00 0.00 0.00 0326,374.0045 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 05.~~000000~~263158% 0.000000% 0.000000% 0.000000% 05.~~000000~~263158% 02.~~000000~~975789% 0.000000% 0.000000% 0.000000% 02.~~000000~~975789% 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 05.~~000000~~263158% 0.000000% 0.000000% 0.000000% 05.~~000000~~263158% 02.~~000000~~975789% 0.000000% 0.000000% 0.000000% 02.~~000000~~975789%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 521,~~416~~740.3382

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 130,017,266.18 55.04003833% 3025,~~705~~133,~~665~~463.5395 2622.~~27058452~~99369877% 7377.~~729415~~006301% ~~100~~97.~~000000~~216182% Class R-I 130,017,216.18 55.04001717% 3025,~~705~~133,~~665~~463.5395 2622.~~27058452~~99369877% 0.000000% 0.000000% Class R-II 130,017,166.18 55.03999600% 3025,~~705~~133,~~665~~463.5395 2622.~~27058452~~99369877% 0.000000% 0.000000% Class 2A 81,404,766.18 34.46097263% 2018,~~754~~088,~~218~~483.1046 1716.~~75650947~~54850047% 86.~~514075~~445198% 01.~~000000~~924133% Class 3A 10,630,266.18 4.50009660% 10,~~491~~192,~~210~~611.8202 89.~~97587581~~32485184% 87.~~780634~~223649% 02.~~000000~~156530% Class B-1 5,905,866.18 2.50012256% 5,~~828~~662,~~611~~717.0570 45.~~98673507~~18061598% 34.~~989141~~144236% 01.~~000000~~237210% Class B-2 3,779,666.18 1.60004111% 3,~~730~~624,~~224~~054.0377 3.~~19143598~~31551687% 1.~~795299~~865099% 0.~~000000~~556802% Class B-3 2,362,366.18 1.00005737% 2,~~331~~265,~~463~~105.8495 12.~~99471064~~07226366% 1.~~196725~~243253% 0.~~000000~~371158% Class B-4 1,417,466.18 0.60005409% 1,~~398~~359,~~924~~108.1511 1.~~19686561~~24339894% 0.~~797845~~828865% 0.~~000000~~247447% Class B-5 708,866.18 0.30008339% ~~699~~679,~~593~~681.4064 0.~~59854516~~62181619% 0.~~598320~~621583% 0.~~000000~~185566% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~598545~~621816% 0.~~000000~~185635% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 43.~~183030~~924824% Weighted Average Net Coupon 3.~~808030~~549824% Weighted Average Pass-Through Rate 3.~~798030~~539824% Weighted Average Maturity(Stepdown Calculation ) ~~295~~293 Beginning Scheduled Collateral Loan Count ~~334~~315 Number Of Loans Paid In Full 85 Ending Scheduled Collateral Loan Count ~~326~~310 Beginning Scheduled Collateral Balance ~~121~~112,~~845~~188,~~009~~149.9103 Ending Scheduled Collateral Balance ~~116~~109,~~882~~305,~~308~~876.0635 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~116~~109,~~910~~330,~~282~~406.2417 Monthly P &I Constant ~~462~~394,~~429~~976.1204 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 52,~~299~~880,~~681~~449.3266 Ending Scheduled Balance for Premium Loans ~~116~~109,~~882~~305,~~308~~876.0635 Scheduled Principal 3728,~~694~~043.6680 Unscheduled Principal 42,~~925~~854,~~007~~228.1988

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage Group 1 94.~~521526~~432365% Senior Percentage Group 2 8377.~~203634~~578914% Senior Percentage Group 3 8173.~~038627~~689554% Senior Prep Percentage Group 1 ~~100~~97.~~000000~~216182% Senior Prep Percentage Group 2 ~~100~~88.~~000000~~789457% Senior Prep Percentage Group 3 ~~100~~86.~~000000~~844777% Subordinate Percentage Group 1 5.~~478474~~567635% Subordinate Percentage Group 2 1622.~~796366~~421086% Subordinate Percentage Group 3 1826.~~961373~~310446% Subordinate Prep Percentage Group 1 02.~~000000~~783818% Subordinate Prep Percentage Group 2 011.~~000000~~210543% Subordinate Prep Percentage Group 3 013.~~000000~~155223%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 3.~~284263~~229058 6.~~505952~~213080 7.~~162737~~146513 Weighted Average Net Rate 2.~~909263~~854058 65.~~130952~~838081 6.~~787736~~771512 Weighted Average Maturity ~~271~~269 ~~313~~ 311 309 Beginning Loan Count ~~280~~273 2620 2822 Loans Paid In Full 1 1 3 4 Ending Loan Count ~~279~~272 2319 2419 Beginning Scheduled Balance 9189,~~348~~885,~~395~~513.0397 139,~~352~~977,~~950~~108.2084 1712,~~143~~325,~~664~~526.6822 Ending scheduled Balance 9189,~~181~~156,~~140~~619.3007 129,~~191~~192,~~342~~614.3504 1310,~~509~~956,~~825~~643.4124 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant ~~250~~241,~~010~~871.1231 8964,~~752~~113.6064 ~~122~~88,~~666~~991.4009 Scheduled Principal 0.00 1712,~~357~~456.8949 2015,~~336~~587.7731 Unscheduled Principal ~~167~~728,~~254~~894.7390 1772,~~144,249~~038.9631 31,~~613~~353,~~502~~295.5067 Scheduled Interest ~~250~~241,~~010~~871.1231 7251,~~394~~657.7115 ~~102~~73,~~329~~403.6378 Servicing Fees 28,~~546~~089.3822 43,~~172~~117.8084 53,~~357~~851.4174 Master Servicing Fees ~~761~~749.2405 ~~111~~83.2714 ~~142~~102.8772 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 ~~220~~213,~~702~~033.5004 6848,~~110~~456.6417 9669,~~829~~449.3532 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~899263~~844058 65.~~120952~~828080 6.~~777737~~761513

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 43.~~183030~~924824 Weighted Average Net Rate 3.~~808030~~549824 Weighted Average Maturity ~~295~~293 Beginning Loan Count ~~334~~315 Loans Paid In Full 85 Ending Loan Count ~~326~~310 Beginning Scheduled Balance ~~121~~112,~~845~~188,~~009~~149.9103 Ending scheduled Balance ~~116~~109,~~882~~305,~~308~~876.0635 Record Date 0911/30/2003 Principal And Interest Constant ~~462~~394,~~429~~976.1204 Scheduled Principal 3728,~~694~~043.6680 Unscheduled Principal 42,~~925~~854,~~007~~228.1988 Scheduled Interest ~~424~~366,~~734~~932.4624 Servicing Fees 3835,~~076~~058.5980 Master Servicing Fees ~~1,015~~934.3891 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~385~~330,~~642~~938.4953 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.000000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~798030~~539824

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002-2