8-K 1 bsa03ac4.txt DECEMBER 8K 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 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 December 26, 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 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 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: 1/6/04 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 December 26, 2003 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 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% ~~730~~701,~~552~~243,~~550~~836.3221 32,~~043~~921,~~968~~849.9632 1322,~~224~~992,~~746~~637.3129 A-IO 07384YKG0 IO 5.00000% 0.00 359,050.00 0.00 M-1 07384YKH8 MEZ 5.15800% 4341,~~665~~913,~~778~~970.9086 ~~187~~180,~~690~~160.0722 ~~790~~1,~~454~~374,290.9148 M-2 07384YKJ4 MEZ 2.~~92000~~91875% 3433,~~427~~046,~~850~~654.2355 8983,~~359~~058.4041 ~~623~~1,~~226~~083,545.3370 BA 07384YKK1 SUB 4.~~17000~~16875% 1918,~~910~~664,~~835~~344.0146 7367,~~802~~000.8346 ~~562~~977,~~444~~869.3775 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 ~~839~~806,~~716~~028,~~453~~245.4608 3,~~811~~669,~~992~~239.8297 1526,~~200~~428,~~871~~343.9222

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~717~~678,~~327~~251,~~804~~198.0192 1625,~~268~~914,~~715~~486.2761 0.00 A-IO 0.00 0.00 359,050.00 0.00 M-1 0.00 4240,~~875~~539,~~324~~680.0038 ~~978~~1,~~144~~554,450.9870 0.00 M-2 0.00 3331,~~804~~963,~~623~~108.9086 ~~712~~1,~~585~~166,604.7311 0.00 BA 0.00 1917,~~348~~686,~~390~~474.6471 ~~636~~1,~~247~~044,870.2021 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 ~~824~~779,~~515~~599,~~581~~901.5587 1930,~~012~~097,~~864~~583.7419 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 ~~730~~701,~~552~~243,~~550~~836.3221 0.00 1322,~~224~~992,~~746~~637.3129 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 44,810,000.00 4341,~~665~~913,~~778~~970.9086 0.00 ~~790~~1,~~454~~374,290.9148 0.00 0.00 M-2 35,330,000.00 3433,~~427~~046,~~850~~654.2355 0.00 ~~623~~1,~~226~~083,545.3370 0.00 0.00 BA 20,725,000.00 1918,~~910~~664,~~835~~344.0146 0.00 ~~562~~977,~~444~~869.3775 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 ~~839~~806,~~716~~028,~~453~~245.4608 0.00 1526,~~200~~428,~~871~~343.9222 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 1322,~~224~~992,~~746~~637.3129 ~~717~~678,~~327~~251,~~804~~198.0192 0.~~95682491~~90470164 1322,~~224~~992,~~746~~637.3129 A-IO 0.00 0.00 0.00000000 0.00 M-1 ~~790~~1,~~454~~374,290.9148 4240,~~875~~539,~~324~~680.0038 0.~~95682491~~90470164 ~~790~~1,~~454~~374,290.9148 M-2 ~~623~~1,~~226~~083,545.3370 3331,~~804~~963,~~623~~108.9086 0.~~95682491~~90470164 ~~623~~1,~~226~~083,545.3370 BA ~~562~~977,~~444~~869.3775 1917,~~348~~686,~~390~~474.6471 0.~~93357735~~85338841 ~~562~~977,~~444~~869.3775 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 1526,~~200~~428,~~871~~343.9222 ~~824~~779,~~515~~599,~~581~~901.5587 0.~~95682491~~90470165 1526,~~200~~428,~~871~~343.9222

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 749,696,000.00 ~~974~~935.~~46505026~~37091863 0.00000000 1730.~~64014522~~66928100 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 44,810,000.00 ~~974~~935.~~46505021~~37091854 0.00000000 1730.~~64014528~~66928096 0.00000000 M-2 35,330,000.00 ~~974~~935.~~46505038~~37091848 0.00000000 1730.~~64014520~~66928106 0.00000000 BA 20,725,000.00 ~~960~~900.~~71580265~~57150591 0.00000000 2747.~~13844970~~18310012 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 1730.~~64014522~~66928100 ~~956~~904.~~82490504~~70163762 0.~~95682491~~90470164 1730.~~64014522~~66928100 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 1730.~~64014528~~66928096 ~~956~~904.~~82490516~~70163758 0.~~95682491~~90470164 1730.~~64014528~~66928096 M-2 0.00000000 1730.~~64014520~~66928106 ~~956~~904.~~82490518~~70163770 0.~~95682491~~90470164 1730.~~64014520~~66928106 BA 0.00000000 2747.~~13844970~~18310012 ~~933~~853.~~57735296~~38840579 0.~~93357735~~85338841 2747.~~13844970~~18310012 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, 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% ~~730~~701,~~552~~243,~~550~~836.3221 32,~~043~~921,~~968~~849.9632 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% 4341,~~665~~913,~~778~~970.9086 ~~187~~180,~~690~~160.0722 0.00 0.00 M-2 35,330,000.00 2.~~92000~~91875% 3433,~~427~~046,~~850~~654.2355 8983,~~359~~058.4041 0.00 0.00 BA 20,725,000.00 4.~~17000~~16875% 1918,~~910~~664,~~835~~344.0146 7367,~~802~~000.8346 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% ~~840~~807,~~385~~960,~~753~~708.7144 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,~~811~~669,~~992~~239.8297 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 32,~~043~~921,~~968~~849.9632 0.00 ~~717~~678,~~327~~251,~~804~~198.0192 A-IO 0.00 0.00 359,050.00 0.00 86,172,000.00 M-1 0.00 0.00 ~~187~~180,~~690~~160.0722 0.00 4240,~~875~~539,~~324~~680.0038 M-2 0.00 0.00 8983,~~359~~058.4041 0.00 3331,~~804~~963,~~623~~108.9086 BA 0.00 0.00 7367,~~802~~000.8346 0.00 1917,~~348~~686,~~390~~474.6471 BB 0.00 0.00 58,121.56 0.00 11,159,339.00 C 0.00 0.00 0.00 0.00 ~~825~~782,~~798~~107,~~896~~894.2188 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,~~811~~669,~~992~~239.8297 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 A 749,696,000.00 5.00000% ~~974~~935.~~46505026~~37091863 43.~~06027104~~89737883 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% ~~974~~935.~~46505021~~37091854 4.~~18857554~~02053604 0.00000000 0.00000000 M-2 35,330,000.00 2.~~92000~~91875% ~~974~~935.~~46505038~~37091848 2.~~52927823~~35093150 0.00000000 0.00000000 BA 20,725,000.00 4.~~17000~~16875% ~~960~~900.~~71580265~~57150591 3.~~56105332~~23283281 0.00000000 0.00000000 BB 11,159,339.00 6.25000% 1000.00000000 5.20833358 0.00000000 0.00000000 C 0.00 0.00000% ~~975~~937.~~24186853~~61359889 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 43.~~06027104~~89737883 0.00000000 ~~956~~904.~~82490504~~70163762 A-IO 0.00000000 0.00000000 4.16666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 4.~~18857554~~02053604 0.00000000 ~~956~~904.~~82490516~~70163758 M-2 0.00000000 0.00000000 2.~~52927823~~35093150 0.00000000 ~~956~~904.~~82490518~~70163770 BA 0.00000000 0.00000000 3.~~56105332~~23283281 0.00000000 ~~933~~853.~~57735296~~38840579 BB 0.00000000 0.00000000 5.20833358 0.00000000 1000.00000000 C 0.00000000 0.00000000 0.00000000 0.00000000 ~~958~~907.~~31426819~~61220240 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, 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 1930,~~092~~227,~~028~~077.5722 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~196~~181,~~537~~504.5316 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1930,~~288~~408,~~566~~581.1038 Withdrawals Reimbursement for Servicer Advances ~~100~~142,~~427~~480.9383 Payment of Service Fee ~~175~~168,~~273~~517.4336 Payment of Interest and Principal 1930,~~012~~097,~~864~~583.7419 Total Withdrawals (Pool Distribution Amount) 1930,~~288~~408,~~566~~581.1038 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~175~~168,~~080~~325.3614 Miscellaneous Fee ~~193~~192.0722 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~175~~168,~~273~~517.4336

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Net WAC Reserve Fund 5,000.00 4,~~117~~453.1303 4,~~117~~453.1303 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 05 0 0 05 0697,602.0032 0.00 0.00 0697,602.0032 30 Days ~~135~~93 01 0 0 ~~135~~94 2819,~~181~~666,~~301~~940.3808 0195,977.0002 0.00 0.00 2819,~~181~~862,~~301~~917.3810 60 Days 620 0 0 0 620 13,~~233~~516,~~372~~140.5720 0.00 0.00 0.00 13,~~233~~516,~~372~~140.5720 90 Days 216 0 0 0 216 ~~176~~4,~~216~~078,481.8410 0.00 0.00 0.00 ~~176~~4,~~216~~078,481.8410 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 01 0 01 0.00 0.00 034,266.0020 0.00 034,266.0020 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~143~~129 06 01 0 ~~143~~136 2927,~~590~~261,~~890~~561.7938 0893,579.0034 034,266.0020 0.00 2928,~~590~~189,~~890~~406.7992 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~~142980% 0.000000% 0.000000% 0.~~000000~~142980% 0.~~000000~~089107% 0.000000% 0.000000% 0.~~000000~~089107% 30 Days 32.~~698630~~659422% 0.~~000000~~028596% 0.000000% 0.000000% 32.~~698630~~688018% 32.~~409512~~512115% 0.~~000000~~025033% 0.000000% 0.000000% 32.~~409512~~537148% 60 Days 0.~~164384~~571919% 0.000000% 0.000000% 0.000000% 0.~~164384~~571919% 0.~~149219~~449127% 0.000000% 0.000000% 0.000000% 0.~~149219~~449127% 90 Days 0.~~054795~~457535% 0.000000% 0.000000% 0.000000% 0.~~054795~~457535% 0.~~021320~~520956% 0.000000% 0.000000% 0.000000% 0.~~021320~~520956% 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~~028596% 0.000000% 0.~~000000~~028596% 0.000000% 0.000000% 0.~~000000~~004377% 0.000000% 0.~~000000~~004377% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.~~917808~~688876% 0.~~000000~~171576% 0.~~000000~~028596% 0.000000% 3.~~917808~~889048% 3.~~580051~~482198% 0.~~000000~~114139% 0.~~000000~~004377% 0.000000% 3.~~580051~~600714%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~196~~181,~~537~~504.5316

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~570241~~554705% Weighted Average Net Coupon 6.~~320241~~304705% Weighted Average Pass-Through Rate 6.~~319965~~304420% Weighted Average Maturity(Stepdown Calculation ) ~~330~~328 Beginning Scheduled Collateral Loan Count 3,~~697~~586 Number Of Loans Paid In Full 4789 Ending Scheduled Collateral Loan Count 3,~~650~~497 Beginning Scheduled Collateral Balance ~~840~~807,~~385~~960,~~753~~708.7144 Ending Scheduled Collateral Balance ~~825~~782,~~798~~107,~~896~~894.2188 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~826~~782,~~549~~883,~~422~~774.1667 Monthly P &I Constant 5,~~537~~329,~~189~~121.9708 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 ~~825~~782,~~798~~107,~~896~~894.2188 Scheduled Principal ~~935~~915,~~807~~030.4068 Unscheduled Principal 1324,~~651~~937,~~050~~782.1088 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~614~~575,~~014~~529.4166 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,308,602.00 Overcollateralized Amount 12,~~283~~508,~~414~~093.6702 Overcollateralized Deficiency Amount 31,~~025~~800,~~187~~508.3399 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~614~~575,~~014~~529.4166 Excess Cash Amount ~~614~~575,~~014~~529.4266

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 4,~~117~~453.1303 Net WAC Rate Carryover Amount Class M1 0.00 Net WAC Rate Carryover Amount Class M2 0.00 Three month rolling average 0.~~001609~~006447%

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