8-K 1 bst01007.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 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 90-0042382 Pooling and Servicing Agreement) (Commission 90-0031687 (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 2001-7 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 2001-7 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 2001-7 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 2001-7 Trust, relating to the December 26, 2003 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/03 Distribution Date: 1112/2526/03 BST Series: 2001-7 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 07384MGL0 SEN 4.~~59108~~54220% 5,~~481~~427,~~322~~636.8057 20,~~970~~544.9749 53317,~~686~~538.2330 II-A 07384MGP1 SEN 2.~~70272~~69951% 49,~~946~~454,~~358~~765.0838 ~~112~~111,~~492~~252.3486 ~~491~~36,~~592~~242.7040 III-A 07384MGU0 SEN 4.~~52161~~41169% 3029,~~077~~456,~~335~~177.7547 ~~113~~108,~~331~~292.6396 ~~621~~753,~~158~~479.2801 IV-A 07384MGQ9 SEN 6.~~86832~~90221% 3,~~758~~505,~~837~~589.1346 2120,~~514~~163.0859 ~~253~~16,~~247~~914.6731 B-1 07384MGR7 SUB 4.~~31508~~24435% 3,~~884~~841,~~058~~298.4102 13,~~966~~586.7051 4236,~~760~~333.3913 B-2 07384MGS5 SUB 4.~~31508~~24435% 2,~~284~~259,~~859~~704.3991 87,~~216~~992.1348 2521,~~154~~373.4854 B-3 07384MGT3 SUB 4.~~31508~~24435% 1,~~599~~581,~~354~~747.8321 5,~~751~~594.1357 1714,~~607~~961.6204 B-4 07384MGV8 SUB 4.~~31508~~24435% ~~799~~790,~~716~~912.3713 2,~~875~~797.7042 87,~~804~~480.2489 B-5 07384MGW6 SUB 4.~~31508~~24435% ~~685~~677,~~426~~880.65 2,~~464~~397.7364 76,~~546~~411.0077 B-6 07384MGX4 SUB 4.~~31508~~24435% 1,~~028~~017,~~367~~046.8736 3,~~697~~597.9125 119,~~321~~619.5179 R-I 07384MGM8 RES 6.~~36278~~36280% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36278~~36280% 0.00 0.00 0.00 Totals 9998,~~545~~012,~~637~~758.2816 ~~305~~296,~~281~~219.3277 1,~~532~~220,~~879~~354.1218

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 5,~~427~~110,~~636~~098.5727 74338,~~657~~082.2079 0.00 II-A 0.00 49,~~454~~418,~~765~~522.3898 ~~604~~147,~~085~~495.0426 0.00 III-A 0.00 2928,~~456~~702,~~177~~698.4746 ~~734~~861,~~489~~771.9197 0.00 IV-A 0.00 3,~~505~~488,~~589~~675.4615 ~~274~~37,~~761~~077.7590 0.00 B-1 0.00 3,~~841~~804,~~298~~964.0289 5649,~~727~~919.0964 0.00 B-2 0.00 2,~~259~~238,~~704~~331.9137 3329,~~370~~366.6102 0.00 B-3 0.00 1,~~581~~566,~~747~~786.2117 2320,~~358~~555.7561 0.00 B-4 0.00 ~~790~~783,~~912~~431.1324 1110,~~679~~278.9431 0.00 B-5 0.00 ~~677~~671,~~880~~468.6588 108,~~010~~809.7341 0.00 B-6 0.00 1,~~017~~007,~~046~~426.3657 1513,~~019~~217.4204 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 9896,~~012~~792,~~758~~403.1698 1,~~838~~516,~~160~~573.4495 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 16,941,900.00 5,~~481~~427,~~322~~636.8057 24,~~191~~029.2408 29293,~~494~~509.9922 0.00 0.00 II-A 59,270,500.00 49,~~946~~454,~~358~~765.0838 0.00 ~~491~~36,~~592~~242.7040 0.00 0.00 III-A 162,837,100.00 3029,~~077~~456,~~335~~177.7547 5954,~~270~~233.9569 ~~561~~699,~~887~~245.3331 0.00 0.00 IV-A 41,028,800.00 3,~~758~~505,~~837~~589.1346 76,~~691~~437.5626 ~~245~~10,~~556~~477.1105 0.00 0.00 B-1 4,985,500.00 3,~~884~~841,~~058~~298.4102 65,~~276~~829.5306 3630,~~483~~504.8607 0.00 0.00 B-2 2,932,800.00 2,~~284~~259,~~859~~704.3991 3,~~692~~429.2704 2117,~~462~~944.2151 0.00 0.00 B-3 2,052,900.00 1,~~599~~581,~~354~~747.8321 2,~~584~~400.5126 1512,~~023~~560.1179 0.00 0.00 B-4 1,026,500.00 ~~799~~790,~~716~~912.3713 1,~~292~~200.3219 76,~~511~~280.9270 0.00 0.00 B-5 879,800.00 ~~685~~677,~~426~~880.65 1,~~107~~028.6366 65,~~438~~383.3711 0.00 0.00 B-6 1,319,993.00 1,~~028~~017,~~367~~046.8736 1,~~661~~543.8134 98,~~659~~076.7045 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 293,275,893.00 9998,~~545~~012,~~637~~758.2816 ~~107~~100,~~768~~130.8258 1,~~425~~120,~~110~~223.3061 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 53317,~~686~~538.2330 5,~~427~~110,~~636~~098.5727 0.~~32036764~~30162486 53317,~~686~~538.2330 II-A ~~491~~36,~~592~~242.7040 49,~~454~~418,~~765~~522.3898 0.~~83439089~~83377942 ~~491~~36,~~592~~242.7040 III-A ~~621~~753,~~158~~479.2801 2928,~~456~~702,~~177~~698.4746 0.~~18089353~~17626633 ~~621~~753,~~158~~479.2801 IV-A ~~253~~16,~~247~~914.6731 3,~~505~~488,~~589~~675.4615 0.~~08544216~~08502991 ~~253~~16,~~247~~914.6731 B-1 4236,~~760~~333.3913 3,~~841~~804,~~298~~964.0289 0.~~77049404~~76320628 4236,~~760~~333.3913 B-2 2521,~~154~~373.4854 2,~~259~~238,~~704~~331.9137 0.~~77049404~~76320628 2521,~~154~~373.4854 B-3 1714,~~607~~961.6204 1,~~581~~566,~~747~~786.2117 0.~~77049404~~76320628 1714,~~607~~961.6204 B-4 87,~~804~~480.2489 ~~790~~783,~~912~~431.1324 0.~~77049404~~76320627 87,~~804~~480.2489 B-5 76,~~546~~411.0077 ~~677~~671,~~880~~468.6588 0.~~77049403~~76320627 76,~~546~~411.0077 B-6 119,~~321~~619.5179 1,~~017~~007,~~046~~426.3657 0.~~77049375~~76320599 119,~~321~~619.5179 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 1,~~532~~220,~~879~~354.1218 9896,~~012~~792,~~758~~403.1698 0.~~33419985~~33003873 1,~~532~~220,~~879~~354.1218

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~323~~320.~~53648646~~36764294 1.~~42789416~~41832262 117.~~74094936~~32445712 0.00000000 II-A 59,270,500.00 ~~842~~834.~~68494580~~39089227 0.00000000 80.~~29405353~~61147451 0.00000000 III-A 162,837,100.00 ~~184~~180.~~70812702~~89352776 0.~~36398923~~33305488 34.~~45061003~~29414003 0.00000000 IV-A 41,028,800.00 9185.~~61460072~~44216404 0.~~18746734~~15689613 50.~~98496934~~25535843 0.00000000 B-1 4,985,500.00 ~~779~~770.~~07098786~~49403671 1.~~25895698~~16920269 76.~~31799418~~11855782 0.00000000 B-2 2,932,800.00 ~~779~~770.~~07098677~~49403642 1.~~25895731~~16920349 76.~~31799304~~11855906 0.00000000 B-3 2,052,900.00 ~~779~~770.~~07098738~~49403770 1.~~25895562~~16920454 76.~~31799406~~11855911 0.00000000 B-4 1,026,500.00 ~~779~~770.~~07098880~~49403799 1.~~25895762~~16920604 76.~~31799318~~11855821 0.00000000 B-5 879,800.00 ~~779~~770.~~07098204~~49403273 1.~~25895658~~16919754 76.~~31799273~~11856104 0.00000000 B-6 1,319,993.00 ~~779~~770.~~07069962~~49375262 1.~~25895365~~16920317 76.~~31799335~~11855517 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 318.~~16884352~~74277974 ~~320~~301.~~36764294~~62486321 0.~~32036764~~30162486 318.~~16884352~~74277974 II-A 0.00000000 80.~~29405353~~61147451 ~~834~~833.~~39089227~~77941775 0.~~83439089~~83377942 80.~~29405353~~61147451 III-A 0.00000000 34.~~81459925~~62719497 ~~180~~176.~~89352776~~26633280 0.~~18089353~~17626633 34.~~81459925~~62719497 IV-A 0.00000000 60.~~17243668~~41225456 85.~~44216404~~02990948 0.~~08544216~~08502991 60.~~17243668~~41225456 B-1 0.00000000 87.~~57695116~~28776051 ~~770~~763.~~49403671~~20627620 0.~~77049404~~76320628 87.~~57695116~~28776051 B-2 0.00000000 87.~~57695035~~28775914 ~~770~~763.~~49403642~~20627728 0.~~77049404~~76320628 87.~~57695035~~28775914 B-3 0.00000000 87.~~57694968~~28775878 ~~770~~763.~~49403770~~20627892 0.~~77049404~~76320628 87.~~57694968~~28775878 B-4 0.00000000 87.~~57695080~~28776425 ~~770~~763.~~49403799~~20627375 0.~~77049404~~76320627 87.~~57695080~~28776425 B-5 0.00000000 87.~~57694931~~28775858 ~~770~~763.~~49403273~~20627415 0.~~77049403~~76320627 87.~~57694931~~28775858 B-6 0.00000000 87.~~57694700~~28775834 ~~770~~763.~~49375262~~20599427 0.~~77049375~~76320599 87.~~57694700~~28775834 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 16,941,900.00 4.~~59108~~54220% 5,~~481~~427,~~322~~636.8057 20,~~970~~544.9749 0.00 0.00 II-A 59,270,500.00 2.~~70272~~69951% 49,~~946~~454,~~358~~765.0838 ~~112~~111,~~492~~252.3587 0.00 0.00 III-A 162,837,100.00 4.~~52161~~41169% 3029,~~077~~456,~~335~~177.7547 ~~113~~108,~~331~~292.6496 0.00 0.00 IV-A 41,028,800.00 6.~~86832~~90221% 3,~~758~~505,~~837~~589.1346 2120,~~514~~163.0859 0.00 0.00 B-1 4,985,500.00 4.~~31508~~24435% 3,~~884~~841,~~058~~298.4102 13,~~966~~586.7051 0.00 0.00 B-2 2,932,800.00 4.~~31508~~24435% 2,~~284~~259,~~859~~704.3991 87,~~216~~992.1348 0.00 0.00 B-3 2,052,900.00 4.~~31508~~24435% 1,~~599~~581,~~354~~747.8321 5,~~751~~594.1357 0.00 0.00 B-4 1,026,500.00 4.~~31508~~24435% ~~799~~790,~~716~~912.3713 2,~~875~~797.7042 0.00 0.00 B-5 879,800.00 4.~~31508~~24435% ~~685~~677,~~426~~880.65 2,~~464~~397.7364 0.00 0.00 B-6 1,319,993.00 4.~~31508~~24435% 1,~~028~~017,~~367~~046.8736 3,~~697~~597.9125 0.00 0.00 R-I 50.00 6.~~36278~~36280% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36278~~36280% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~305~~296,~~281~~219.3478 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 0.00 0.00 20,~~970~~544.9749 0.00 5,~~427~~110,~~636~~098.5727 II-A 0.00 0.00 ~~112~~111,~~492~~252.3486 0.00 49,~~454~~418,~~765~~522.3898 III-A 0.00 0.00 ~~113~~108,~~331~~292.6396 0.00 2928,~~456~~702,~~177~~698.4746 IV-A 0.00 0.00 2120,~~514~~163.0859 0.00 3,~~505~~488,~~589~~675.4615 B-1 0.00 0.00 13,~~966~~586.7051 0.00 3,~~841~~804,~~298~~964.0289 B-2 0.00 0.00 87,~~216~~992.1348 0.00 2,~~259~~238,~~704~~331.9137 B-3 0.00 0.00 5,~~751~~594.1357 0.00 1,~~581~~566,~~747~~786.2117 B-4 0.00 0.00 2,~~875~~797.7042 0.00 ~~790~~783,~~912~~431.1324 B-5 0.00 0.00 2,~~464~~397.7364 0.00 ~~677~~671,~~880~~468.6588 B-6 0.00 0.00 3,~~697~~597.9125 0.00 1,~~017~~007,~~046~~426.3657 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~305~~296,~~281~~219.3277 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 16,941,900.00 4.~~59108~~54220% ~~323~~320.~~53648646~~36764294 1.~~23781689~~21264380 0.00000000 0.00000000 II-A 59,270,500.00 2.~~70272~~69951% ~~842~~834.~~68494580~~39089227 1.~~89794839~~87703613 0.00000000 0.00000000 III-A 162,837,100.00 4.~~52161~~41169% ~~184~~180.~~70812702~~89352776 0.~~69598169~~66503862 0.00000000 0.00000000 IV-A 41,028,800.00 6.~~86832~~90221% 9185.~~61460072~~44216404 0.~~52436532~~49144966 0.00000000 0.00000000 B-1 4,985,500.00 4.~~31508~~24435% ~~779~~770.~~07098786~~49403671 2.~~80146425~~72520509 0.00000000 0.00000000 B-2 2,932,800.00 4.~~31508~~24435% ~~779~~770.~~07098677~~49403642 2.~~80146277~~72520458 0.00000000 0.00000000 B-3 2,052,900.00 4.~~31508~~24435% ~~779~~770.~~07098738~~49403770 2.~~80146622~~72520337 0.00000000 0.00000000 B-4 1,026,500.00 4.~~31508~~24435% ~~779~~770.~~07098880~~49403799 2.~~80146128~~72520214 0.00000000 0.00000000 B-5 879,800.00 4.~~31508~~24435% ~~779~~770.~~07098204~~49403273 2.~~80146624~~72521028 0.00000000 0.00000000 B-6 1,319,993.00 4.~~31508~~24435% ~~779~~770.~~07069962~~49375262 2.~~80146183~~72520385 0.00000000 0.00000000 R-I 50.00 6.~~36278~~36280% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36278~~36280% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 0.00000000 0.00000000 1.~~23781689~~21264380 0.00000000 ~~320~~301.~~36764294~~62486321 II-A 0.00000000 0.00000000 1.~~89794822~~87703596 0.00000000 ~~834~~833.~~39089227~~77941775 III-A 0.00000000 0.00000000 0.~~69598163~~66503862 0.00000000 ~~180~~176.~~89352776~~26633280 IV-A 0.00000000 0.00000000 0.~~52436532~~49144966 0.00000000 85.~~44216404~~02990948 B-1 0.00000000 0.00000000 2.~~80146425~~72520509 0.00000000 ~~770~~763.~~49403671~~20627620 B-2 0.00000000 0.00000000 2.~~80146277~~72520458 0.00000000 ~~770~~763.~~49403642~~20627728 B-3 0.00000000 0.00000000 2.~~80146622~~72520337 0.00000000 ~~770~~763.~~49403770~~20627892 B-4 0.00000000 0.00000000 2.~~80146128~~72520214 0.00000000 ~~770~~763.~~49403799~~20627375 B-5 0.00000000 0.00000000 2.~~80146624~~72521028 0.00000000 ~~770~~763.~~49403273~~20627415 B-6 0.00000000 0.00000000 2.~~80146183~~72520385 0.00000000 ~~770~~763.~~49375262~~20599427 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1,~~873~~542,~~342~~556.0123 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 510,~~876~~753.0447 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1,~~879~~553,~~218~~309.0570 Withdrawals Reimbursement for Servicer Advances 95,~~704~~876.4604 Payment of Service Fee 3130,~~353~~859.1571 Payment of Interest and Principal 1,~~838~~516,~~160~~573.4495 Total Withdrawals (Pool Distribution Amount) 1,~~879~~553,~~218~~309.0570 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 3130,~~353~~859.1571 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3130,~~353~~859.1571

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 12 0 0 12 ~~466~~790,~~177~~753.0518 0.00 0.00 ~~466~~790,~~177~~753.0518 30 Days 13 0 0 0 13 ~~269~~1,~~976~~225,391.0138 0.00 0.00 0.00 ~~269~~1,~~976~~225,391.0138 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 10 0 0 0 10 ~~106,160~~0.4100 0.00 0.00 0.00 ~~106,160~~0.4100 150 Days 01 0 0 0 01 0106,160.0041 0.00 0.00 0.00 0106,160.0041 180+ Days 1 0 0 1 0 1 ~~488,261.79~~ 0.00 0.00 488,261.79 0.00 488,261.79 Totals 34 2 1 0 07 ~~4 864~~1,~~398~~331,551.2179 ~~466~~790,~~177~~753.0518 0488,261.0079 0.00 12,~~330~~610,~~575~~566.2676 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.~~403226~~819672% 0.000000% 0.000000% 0.~~403226~~819672% 0.~~475216~~816193% 0.000000% 0.000000% 0.~~475216~~816193% 30 Days 01.~~403226~~229508% 0.000000% 0.000000% 0.000000% 01.~~403226~~229508% 01.~~275211~~264814% 0.000000% 0.000000% 0.000000% 01.~~275211~~264814% 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.~~403226~~000000% 0.000000% 0.000000% 0.000000% 0.~~403226~~000000% 0.~~108219~~000000% 0.000000% 0.000000% 0.000000% 0.~~108219~~000000% 150 Days 0.~~000000~~409836% 0.000000% 0.000000% 0.000000% 0.~~000000~~409836% 0.~~000000~~109576% 0.000000% 0.000000% 0.000000% 0.~~000000~~109576% 180+ Days 0.~~403226~~000000% 0.000000% 0.~~000000~~409836% 0.000000% 0.~~403226~~409836% 0.~~497729~~000000% 0.000000% 0.~~000000~~503970% 0.000000% 0.~~497729~~503970% Totals 1.~~209677~~639344% 0.~~403226~~819672% 0.~~000000~~409836% 0.000000% 12.~~612903~~868852% 01.~~881159~~374390% 0.~~475216~~816193% 0.~~000000~~503970% 0.000000% 12.~~356375~~694553%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 10 0 0 0 10 ~~269,976~~0.0100 0.00 0.00 0.00 ~~269,976~~0.0100 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 10 0 0 0 10 ~~269,976~~0.0100 0.00 0.00 0.00 ~~269,976~~0.0100 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~564103~~000000% 0.000000% 0.000000% 0.000000% 20.~~564103~~000000% 40.~~449613~~000000% 0.000000% 0.000000% 0.000000% 40.~~449613~~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 20.~~564103~~000000% 0.000000% 0.000000% 0.000000% 20.~~564103~~000000% 40.~~449613~~000000% 0.000000% 0.000000% 0.000000% 40.~~449613~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 01 0 0 01 0326,257.0052 0.00 0.00 0326,257.0052 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 01 0 0 01 0.00 0326,257.0052 0.00 0.00 0326,257.0052 0-29 Days 0.~~000000~~925926% 0.000000% 0.000000% 0.~~000000~~925926% 0.~~000000~~626579% 0.000000% 0.000000% 0.~~000000~~626579% 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~~925926% 0.000000% 0.000000% 0.~~000000~~925926% 0.000000% 0.~~000000~~626579% 0.000000% 0.000000% 0.~~000000~~626579% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III 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 ~~466~~464,~~177~~495.0566 0.00 0.00 ~~466~~464,~~177~~495.0566 30 Days 03 0 0 0 03 01,225,391.0038 0.00 0.00 0.00 01,225,391.0038 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 1 0 0 1 0 1 ~~488,261.79~~ 0.00 0.00 488,261.79 0.00 488,261.79 Totals 3 1 1 0 05 ~~2 488~~1,~~261~~225,391.7938 ~~466~~464,~~177~~495.0566 0488,261.0079 0.00 ~~954~~2,~~438~~178,148.8483 0-29 Days 1.~~149425~~176471% 0.000000% 0.000000% 1.~~149425~~176471% 1.~~320599~~347216% 0.000000% 0.000000% 1.~~320599~~347216% 30 Days 03.~~000000~~529412% 0.000000% 0.000000% 0.000000% 03.~~000000~~529412% 03.~~000000~~554105% 0.000000% 0.000000% 0.000000% 03.~~000000~~554105% 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 10.~~149425~~000000% 0.000000% 01.~~000000~~176471% 0.000000% 1.~~149425~~176471% 10.~~383161~~000000% 0.000000% 01.~~000000~~416146% 0.000000% 1.~~383161~~416146% Totals 13.~~149425~~529412% 1.~~149425~~176471% 01.~~000000~~176471% 0.000000% 25.~~298851~~882353% 13.~~383161~~554105% 1.~~320599~~347216% 01.~~000000~~416146% 0.000000% 26.~~703760~~317467% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV 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 10 0 0 0 10 ~~106,160~~0.4100 0.00 0.00 0.00 ~~106,160~~0.4100 150 Days 01 0 0 0 01 0106,160.0041 0.00 0.00 0.00 0106,160.0041 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1 0 0 0 1 106,160.41 0.00 0.00 0.00 106,160.41 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 70.~~142857~~000000% 0.000000% 0.000000% 0.000000% 70.~~142857~~000000% 20.~~296091~~000000% 0.000000% 0.000000% 0.000000% 20.~~296091~~000000% 150 Days 07.~~000000~~142857% 0.000000% 0.000000% 0.000000% 07.~~000000~~142857% 02.~~000000~~307818% 0.000000% 0.000000% 0.000000% 02.~~000000~~307818% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 7.142857% 0.000000% 0.000000% 0.000000% 7.142857% 2.~~296091~~307818% 0.000000% 0.000000% 0.000000% 2.~~296091~~307818%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 510,~~876~~753.0447

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 9291,~~585~~682,~~121~~305.5971 94.~~46231626~~72055858% 5.~~537684~~279441% 0.000000% Class 2A 217,063,493.00 74.01341132% 4342,~~130~~263,~~356~~782.2173 4443.~~00483878~~66435897% 5051.~~457477~~056200% ~~486~~490.~~348342~~632602% Class 3A 54,226,393.00 18.48989102% 13,~~674~~561,~~178~~084.7427 1314.~~95142734~~01048400% 3029.~~053411~~653875% ~~289~~284.~~678112~~963588% Class R-I 13,197,543.00 4.50004358% 10,~~168~~072,~~589~~409.2812 10.~~37476087~~40619791% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 10,~~168~~072,~~589~~409.2812 10.~~37476087~~40619791% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 6,~~327~~267,~~291~~444.2623 6.~~45557923~~47514058% 3.~~919182~~931057% 37.776115% Class B-2 5,279,193.00 1.80007738% 4,~~067~~029,~~586~~112.3586 4.~~15005804~~16263332% 2.~~305521~~312507% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~485~~462,~~839~~326.1469 2.~~53624037~~54392554% 1.~~613818~~618708% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~694~~678,~~927~~895.0145 1.~~72929223~~73453224% 0.~~806948~~809393% 7.777993% Class B-5 1,319,993.00 0.45008575% 1,~~017~~007,~~046~~426.3657 1.~~03766732~~04081160% 0.~~691625~~693721% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~037667~~040812% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 4.~~058052~~005882% Weighted Average Net Coupon 3.~~680097~~628057% Weighted Average Pass-Through Rate 3.~~680097~~628057% Weighted Average Maturity(Stepdown Calculation ) ~~330~~329 Beginning Scheduled Collateral Loan Count ~~254~~248 Number Of Loans Paid In Full 64 Ending Scheduled Collateral Loan Count ~~248~~244 Beginning Scheduled Collateral Balance 9998,~~545~~012,~~637~~758.2816 Ending Scheduled Collateral Balance 9896,~~012~~792,~~758~~403.1698 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2003 9896,~~097~~883,~~902~~120.5263 Monthly P &I Constant ~~444~~427,~~403~~320.3019 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1,~~687~~384,~~993~~427.9293 Ending Scheduled Balance for Premium Loans 9896,~~012~~792,~~758~~403.1698 Scheduled Principal ~~107~~100,~~768~~130.8257 Unscheduled Principal 1,~~425~~120,~~110~~223.3061

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 4.~~966075~~917195 3.~~077716~~077042 4.~~896610~~786691 Weighted Average Net Rate 4.~~591075~~542195 2.~~702716~~702042 4.~~521610~~411691 Weighted Average Maturity ~~263~~262 ~~275~~274 ~~330~~329 Beginning Loan Count 4039 ~~109~~108 9087 Loans Paid In Full 12 10 32 Ending Loan Count 3937 108 8785 Beginning Scheduled Balance 6,~~104~~046,~~572~~549.9340 52,~~613~~108,~~229~~853.2560 35,~~925~~242,~~265~~798.2890 Ending scheduled Balance 65,~~046~~710,~~549~~439.4030 52,~~108~~071,~~853~~664.6010 3534,~~242~~416,~~798~~125.9086 Record Date 1011/3130/2003 1011/3130/2003 1011/3130/2003 Principal And Interest Constant 5251,~~205~~545.0383 ~~134~~133,~~940~~617.4861 ~~217~~205,~~388~~468.3214 Scheduled Principal 26,~~941~~769.8911 0.00 7064,~~794~~887.9982 Unscheduled Principal 31309,~~081~~340.6499 ~~504~~37,~~375~~189.6550 ~~611~~761,~~671~~785.3922 Scheduled Interest 2524,~~263~~776.1472 ~~134~~133,~~940~~617.4861 ~~146~~140,~~593~~580.3332 Servicing Fees 1,~~907~~889.6855 16,~~441~~284.6401 11,~~226~~013.6437 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 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 2322,~~355~~887.4617 ~~118~~117,~~498~~333.8460 ~~135~~129,~~366~~566.6995 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.~~591075~~542195 2.~~702716~~702042 4.~~521610~~411691

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~303320~~337209 4.~~058052~~005882 Weighted Average Net Rate 6.~~868318~~902208 3.~~680097~~628057 Weighted Average Maturity ~~330~~329 ~~330~~329 Beginning Loan Count 1514 ~~254~~248 Loans Paid In Full 10 64 Ending Loan Count 14 ~~248~~244 Beginning Scheduled Balance 4,~~902~~614,~~569~~556.8226 9998,~~545~~012,~~637~~758.2816 Ending scheduled Balance 4,~~614~~594,~~556~~174.2672 9896,~~012~~792,~~758~~403.1698 Record Date 1011/3130/2003 1011/3130/2003 Principal And Interest Constant 3936,~~869~~688.4761 ~~444~~427,~~403~~320.3019 Scheduled Principal 108,~~031~~473.9464 ~~107~~100,~~768~~130.8257 Unscheduled Principal ~~277~~11,~~981~~907.6290 1,~~425~~120,~~110~~223.3061 Scheduled Interest 2928,~~837~~214.5397 ~~336~~327,~~634~~189.4862 Servicing Fees 1,~~777~~672.1978 3130,~~353~~859.1571 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 2826,~~060~~542.3419 ~~305~~296,~~281~~329.3391 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 6.~~868320~~902209 3.~~680097~~628057

Miscellaneous Reporting Group Group I Senior Percentage Group I 89.~~790439~~764198% Senior Prep. Percentage Group I 94.~~895219~~882099% Subordinate Percentage Group I 10.~~209561~~235802% Subordinate Prep. Percentage Group I 5.~~104781~~117901% Group Group II Senior Percentage Group II 94.~~931178~~906646% Senior Prep. Percentage Group II 97.~~465589~~453323% Subordinate Percentage Group II 5.~~068822~~093354% Subordinate Prep. Percentage Group II 2.~~534411~~546677% Group Group III Senior Percentage Group III 83.~~721959~~580698% Senior Prep. Percentage Group III 91.~~860979~~790349% Subordinate Percentage Group III 16.~~278041~~419302% Subordinate Prep. Percentage Group III 8.~~139021~~209651%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 7675.~~670752~~968073% Senior Prep. Percentage Group IV 8887.~~335376~~984036% Subordinate Percentage Group IV 2324.~~329248~~031927% Subordinate Prep. Percentage Group IV 1112.~~664624~~015964%

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT SER 2001-7