8-K 1 bsl03004.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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-24 54-2126415 Pooling and Servicing Agreement) (Commission 54-2126372 (State or other File Number) 54-2126414 jurisdiction 54-2126371 of Incorporation) IRS EIN 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 ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2003-4 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 2003-4 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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-4 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: 1/6/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 Trust, relating to the December 26, 2003 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 BSL Series: 2003-4 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-1 07386HBW0 SEN 1.~~49000~~48875% ~~233~~224,~~600~~099,~~000~~200.0083 ~~261~~287,~~048~~290.0051 5,~~089~~180,~~704~~601.4189 I-A-2 07386HBX8 SEN 1.~~26000~~25875% 4036,~~000~~746,~~000~~301.0065 3739,~~800~~830.0018 1,~~743~~774,~~049~~178.4673 I-A-3 07386HBY6 SEN 1.~~69000~~68875% 40,000,000.00 5058,~~700~~168.0006 0.00 II-A-1 07386HBZ3 SEN 1.~~44000~~43875% 6249,~~000~~278,~~000~~632.0078 6661,~~960~~052.0046 56,~~397~~018,~~606~~586.0529 II-A-2 07386HCA7 SEN 1.~~42000~~41875% 6954,~~000~~080,~~000~~298.0045 7366,~~485~~069.0098 67,~~330~~058,~~347~~636.1983 II-A-3 07386HCB5 SEN 1.~~72000~~71875% 3,714,000.00 45,~~791~~496.0685 0.00 M-1 07386HCC3 SUB 1.~~92000~~91875% 10,540,000.00 1517,~~177~~414.6079 0.00 M-2 07386HCD1 SUB 2.~~97000~~96875% 9,365,300.00 2023,~~861~~941.2167 0.00 B-IO 07386HCX7 SUB 0.00000% 0.00 1470,~~568,146~~301.6752 0.00 OC BSL03004X SUB 0.00000% 171,460,571.6664 0.00 0.00 XP 07386HDC2 SEN 0.00000% 100.00 01,956.0042 0.00 R-I 07386HCY5 RES 0.00000% 0.00 0.00 0.00 R-II 07386HCZ2 RES 0.00000% 0.00 0.00 0.00 R-III 07386HDA6 RES 0.00000% 0.00 0.00 0.00 R-IV 07386HDB4 RES 0.00000% 0.00 0.00 0.00 Totals ~~468~~429,~~219~~284,~~417~~405.6635 21,~~098~~031,~~969~~522.5444 1820,~~560~~032,~~707~~003.1174

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~228~~218,~~510~~918,~~295~~598.5994 5,~~350~~467,~~752~~892.4140 0.00 I-A-2 0.00 3834,~~256~~972,~~950~~122.5492 1,~~780~~814,~~849~~008.4691 0.00 I-A-3 0.00 40,000,000.00 5058,~~700~~168.0006 0.00 II-A-1 0.00 5643,~~602~~260,~~393~~046.9549 56,~~464~~079,~~566~~638.0575 0.00 II-A-2 0.00 6247,~~669~~021,~~652~~661.8162 67,~~403~~124,~~832~~706.1981 0.00 II-A-3 0.00 3,714,000.00 45,~~791~~496.0685 0.00 M-1 0.00 10,540,000.00 1517,~~177~~414.6079 0.00 M-2 0.00 9,365,300.00 2023,~~861~~941.2167 0.00 B-IO 0.00 0.00 1470,~~568,146~~301.6752 0.00 OC 0.00 172,341,097.5300 0.00 0.00 XP 0.00 100.00 01,956.0042 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 Totals 0.00 ~~449~~410,~~658~~132,~~710~~926.4297 2021,~~659~~063,~~676~~526.6518 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-1 233,600,000.00 ~~233~~224,~~600~~099,~~000~~200.0083 0.00 5,~~089~~180,~~704~~601.4189 0.00 0.00 I-A-2 40,000,000.00 4036,~~000~~746,~~000~~301.0065 0.00 1,~~743~~774,~~049~~178.4673 0.00 0.00 I-A-3 40,000,000.00 40,000,000.00 0.00 0.00 0.00 0.00 II-A-1 62,000,000.00 6249,~~000~~278,~~000~~632.0078 0.00 56,~~397~~018,~~606~~586.0529 0.00 0.00 II-A-2 69,000,000.00 6954,~~000~~080,~~000~~298.0045 0.00 67,~~330~~058,~~347~~636.1983 0.00 0.00 II-A-3 3,714,000.00 3,714,000.00 0.00 0.00 0.00 0.00 M-1 10,540,000.00 10,540,000.00 0.00 0.00 0.00 0.00 M-2 9,365,300.00 9,365,300.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 17.66 171,460,571.6664 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 0.00 Totals 468,219,417.66 ~~468~~429,~~219~~284,~~417~~405.6635 0.00 1820,~~560~~032,~~707~~003.1174 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-1 5,~~089~~180,~~704~~601.4189 ~~228~~218,~~510~~918,~~295~~598.5994 0.~~97821188~~93715154 5,~~089~~180,~~704~~601.4189 I-A-2 1,~~743~~774,~~049~~178.4673 3834,~~256~~972,~~950~~122.5492 0.~~95642376~~87430307 1,~~743~~774,~~049~~178.4673 I-A-3 0.00 40,000,000.00 1.00000000 0.00 II-A-1 56,~~397~~018,~~606~~586.0529 5643,~~602~~260,~~393~~046.9549 0.~~91294184~~69774269 56,~~397~~018,~~606~~586.0529 II-A-2 67,~~330~~058,~~347~~636.1983 6247,~~669~~021,~~652~~661.8162 0.~~90825584~~68147336 67,~~330~~058,~~347~~636.1983 II-A-3 0.00 3,714,000.00 1.00000000 0.00 M-1 0.00 10,540,000.00 1.00000000 0.00 M-2 0.00 9,365,300.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 172,341,097.5300 0132,564.~~99263873~~94903737 0.00 XP 0.00 100.00 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 R-IV 0.00 0.00 0.00000000 0.00 Totals 1820,~~560~~032,~~707~~003.1174 ~~449~~410,~~658~~132,~~710~~926.4297 0.~~96035895~~87594173 1820,~~560~~032,~~707~~003.1174

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 233,600,000.00 ~~1000~~959.~~00000000~~32877068 0.00000000 2122.~~78811819~~17723412 0.00000000 I-A-2 40,000,000.00 ~~1000~~918.~~00000000~~65754125 0.00000000 4344.~~57623650~~35446825 0.00000000 I-A-3 40,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-1 62,000,000.00 ~~1000~~794.~~00000000~~81665774 0.00000000 8797.~~05816210~~07397242 0.00000000 II-A-2 69,000,000.00 ~~1000~~783.~~00000000~~77244130 0.00000000 91102.~~74416217~~29908449 0.00000000 II-A-3 3,714,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 10,540,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,365,300.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 17.66 ~~1000~~82705075.~~00000000~~87768970 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 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 I-A-1 0.00000000 2122.~~78811819~~17723412 ~~978~~937.~~21188181~~15153656 0.~~97821188~~93715154 2122.~~78811819~~17723412 I-A-2 0.00000000 4344.~~57623650~~35446825 ~~956~~874.~~42376350~~30307300 0.~~95642376~~87430307 4344.~~57623650~~35446825 I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-1 0.00000000 8797.~~05816210~~07397242 ~~912~~697.~~94183790~~74268532 0.~~91294184~~69774269 8797.~~05816210~~07397242 II-A-2 0.00000000 91102.~~74416217~~29908449 ~~908~~681.~~25583783~~47335681 0.~~90825584~~68147336 91102.~~74416217~~29908449 II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 ~~992~~32,564,949.~~63873160~~03737300 0132564.~~99263873~~94903737 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 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-1 233,600,000.00 1.~~49000~~48875% ~~233~~224,~~600~~099,~~000~~200.0083 ~~261~~287,~~048~~290.0051 0.00 0.00 I-A-2 40,000,000.00 1.~~26000~~25875% 4036,~~000~~746,~~000~~301.0065 3739,~~800~~830.0018 0.00 0.00 I-A-3 40,000,000.00 1.~~69000~~68875% 40,000,000.00 5058,~~700~~168.0006 0.00 0.00 II-A-1 62,000,000.00 1.~~44000~~43875% 6249,~~000~~278,~~000~~632.0078 6661,~~960~~052.0046 0.00 0.00 II-A-2 69,000,000.00 1.~~42000~~41875% 6954,~~000~~080,~~000~~298.0045 7366,~~485~~069.0098 0.00 0.00 II-A-3 3,714,000.00 1.~~72000~~71875% 3,714,000.00 45,~~791~~496.0685 0.00 0.00 M-1 10,540,000.00 1.~~92000~~91875% 10,540,000.00 1517,~~177~~414.6079 0.00 0.00 M-2 9,365,300.00 2.~~97000~~96875% 9,365,300.00 2023,~~861~~941.2167 0.00 0.00 B-IO 0.00 0.00000% ~~468~~429,~~219~~284,~~317~~305.6635 0.00 0.00 0.00 OC 17.66 0.00000% 171,460,571.6664 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 468,219,417.66 ~~530~~559,~~822~~264.8750 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-1 0.00 0.00 ~~261~~287,~~048~~290.0051 0.00 ~~228~~218,~~510~~918,~~295~~598.5994 I-A-2 0.00 0.00 3739,~~800~~830.0018 0.00 3834,~~256~~972,~~950~~122.5492 I-A-3 0.00 0.00 5058,~~700~~168.0006 0.00 40,000,000.00 II-A-1 0.00 0.00 6661,~~960~~052.0046 0.00 5643,~~602~~260,~~393~~046.9549 II-A-2 0.00 0.00 7366,~~485~~069.0098 0.00 6247,~~669~~021,~~652~~661.8162 II-A-3 0.00 0.00 45,~~791~~496.0685 0.00 3,714,000.00 M-1 0.00 0.00 1517,~~177~~414.6079 0.00 10,540,000.00 M-2 0.00 0.00 2023,~~861~~941.2167 0.00 9,365,300.00 B-IO 0.00 0.00 1470,~~568,146~~301.6752 0.00 ~~449~~410,~~658~~132,~~610~~826.4297 OC 0.00 0.00 0.00 0.00 172,341,097.5300 XP 0.00 0.00 01,956.0042 0.00 100.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 21,~~098~~031,~~969~~522.5444 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-1 233,600,000.00 1.~~49000~~48875% ~~1000~~959.~~00000000~~32877068 1.~~11750000~~22983951 0.00000000 0.00000000 I-A-2 40,000,000.00 1.~~26000~~25875% ~~1000~~918.~~00000000~~65754125 0.~~94500000~~99575450 0.00000000 0.00000000 I-A-3 40,000,000.00 1.~~69000~~68875% 1000.00000000 1.~~26750000~~45420150 0.00000000 0.00000000 II-A-1 62,000,000.00 1.~~44000~~43875% ~~1000~~794.~~00000000~~81665774 10.~~08000000~~98471710 0.00000000 0.00000000 II-A-2 69,000,000.00 1.~~42000~~41875% ~~1000~~783.~~00000000~~77244130 10.~~06500000~~95753594 0.00000000 0.00000000 II-A-3 3,714,000.00 1.~~72000~~71875% 1000.00000000 1.~~29000000~~48003500 0.00000000 0.00000000 M-1 10,540,000.00 1.~~92000~~91875% 1000.00000000 1.~~44000000~~65225712 0.00000000 0.00000000 M-2 9,365,300.00 2.~~97000~~96875% 1000.00000000 2.~~22750045~~55642318 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~1000~~916.~~00000000~~84449821 0.00000000 0.00000000 0.00000000 OC 17.66 0.00000% ~~1000~~82705075.~~00000000~~87768970 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 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 I-A-1 0.00000000 0.00000000 1.~~11750000~~22983951 0.00000000 ~~978~~937.~~21188181~~15153656 I-A-2 0.00000000 0.00000000 0.~~94500000~~99575450 0.00000000 ~~956~~874.~~42376350~~30307300 I-A-3 0.00000000 0.00000000 1.~~26750000~~45420150 0.00000000 1000.00000000 II-A-1 0.00000000 0.00000000 10.~~08000000~~98471710 0.00000000 ~~912~~697.~~94183790~~74268532 II-A-2 0.00000000 0.00000000 10.~~06500000~~95753594 0.00000000 ~~908~~681.~~25583783~~47335681 II-A-3 0.00000000 0.00000000 1.~~29000000~~48003500 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~44000000~~65225712 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~22750045~~55642318 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 31.~~34917123~~00444707 0.00000000 ~~960~~875.~~35894603~~94170403 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~992~~132564949.~~63873160~~03737300 XP 0.00000000 0.00000000 019564.~~00000000~~20000000 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 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 2021,~~717~~187,~~741~~145.6729 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 68115,~~130~~367.3818 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2021,~~785~~302,~~872~~512.0547 Withdrawals Reimbursement for Servicer Advances 097,751.0026 Payment of Service Fee ~~126~~141,~~195~~235.4003 Payment of Interest and Principal 2021,~~659~~063,~~676~~526.6518 Total Withdrawals (Pool Distribution Amount) 2021,~~785~~302,~~872~~512.0547 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 ~~5,011~~0.0700

SERVICING FEES Gross Servicing Fee ~~104~~122,~~351~~221.9405 Additional Servicing Fee 6,~~843~~549.0054 Miscellaneous Fee 1512,~~000~~464.4644 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~126~~141,~~195~~235.4003

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 03 0 0 03 0541,235.0004 0.00 0.00 0541,235.0004 30 Days 2544 0 0 0 2544 1015,~~481~~233,~~038~~237.2279 0.00 0.00 0.00 1015,~~481~~233,~~038~~237.2279 60 Days 37 0 01 0 38 12,~~230~~430,~~375~~204.8172 0.00 0427,534.0091 0.00 12,~~230~~857,~~375~~739.8163 90 Days 15 0 0 0 15 ~~428~~2,~~673~~207,720.7610 0.00 0.00 0.00 ~~428~~2,~~673~~207,720.7610 120 Days 0 0 02 0 02 0.00 0.00 0636,971.0002 0.00 0636,971.0002 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 2956 03 03 0 2962 1219,~~140~~871,~~087~~162.7961 0541,235.0004 01,064,505.0093 0.00 1221,~~140~~476,~~087~~903.7958 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~~225904% 0.000000% 0.000000% 0.~~000000~~225904% 0.~~000000~~131887% 0.000000% 0.000000% 0.~~000000~~131887% 30 Days 23.~~272727~~313253% 0.000000% 0.000000% 0.000000% 23.~~272727~~313253% 23.~~893822~~711997% 0.000000% 0.000000% 0.000000% 23.~~893822~~711997% 60 Days 0.~~272727~~527108% 0.000000% 0.~~000000~~075301% 0.000000% 0.~~272727~~602410% 0.~~339708~~592186% 0.000000% 0.~~000000~~104181% 0.000000% 0.~~339708~~696367% 90 Days 0.~~090909~~376506% 0.000000% 0.000000% 0.000000% 0.~~090909~~376506% 0.~~118357~~537972% 0.000000% 0.000000% 0.000000% 0.~~118357~~537972% 120 Days 0.000000% 0.000000% 0.~~000000~~150602% 0.000000% 0.~~000000~~150602% 0.000000% 0.000000% 0.~~000000~~155215% 0.000000% 0.~~000000~~155215% 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 24.~~636364~~216867% 0.~~000000~~225904% 0.~~000000~~225904% 0.000000% 24.~~636364~~668675% 34.~~351886~~842155% 0.~~000000~~131887% 0.~~000000~~259396% 0.000000% 35.~~351886~~233438%

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 03 0 0 03 0541,235.0004 0.00 0.00 0541,235.0004 30 Days 1433 0 0 0 1433 510,~~948~~205,~~034~~440.0174 0.00 0.00 0.00 510,~~948~~205,~~034~~440.0174 60 Days 16 0 0 0 16 ~~179~~1,~~000~~900,354.0046 0.00 0.00 0.00 ~~179~~1,~~000~~900,354.0046 90 Days 03 0 0 0 03 01,060,603.0078 0.00 0.00 0.00 01,060,603.0078 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 1542 03 0 0 1545 613,~~127~~166,~~034~~398.0198 0541,235.0004 0.00 0.00 613,~~127~~707,~~034~~634.0102 0-29 Days 0.~~000000~~276753% 0.000000% 0.000000% 0.~~000000~~276753% 0.~~000000~~175332% 0.000000% 0.000000% 0.~~000000~~175332% 30 Days 13.~~765448~~044280% 0.000000% 0.000000% 0.000000% 13.~~765448~~044280% 23.~~551278~~306029% 0.000000% 0.000000% 0.000000% 23.~~551278~~306029% 60 Days 0.~~126103~~553506% 0.000000% 0.000000% 0.000000% 0.~~126103~~553506% 0.~~076778~~615615% 0.000000% 0.000000% 0.000000% 0.~~076778~~615615% 90 Days 0.~~000000~~276753% 0.000000% 0.000000% 0.000000% 0.~~000000~~276753% 0.~~000000~~343580% 0.000000% 0.000000% 0.000000% 0.~~000000~~343580% 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.~~891551~~874539% 0.~~000000~~276753% 0.000000% 0.000000% 14.~~891551~~151292% 24.~~628056~~265225% 0.~~000000~~175332% 0.000000% 0.000000% 24.~~628056~~440557% 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 11 0 0 0 11 45,~~533~~027,~~004~~797.2105 0.00 0.00 0.00 45,~~533~~027,~~004~~797.2105 60 Days 21 0 01 0 2 1529,~~051,375~~850.8126 0.00 0427,534.0091 0.00 1957,~~051,375~~385.8117 90 Days 12 0 0 0 12 ~~428~~1,~~673~~147,116.7632 0.00 0.00 0.00 ~~428~~1,~~673~~147,116.7632 120 Days 0 0 02 0 02 0.00 0.00 0636,971.0002 0.00 0636,971.0002 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 14 0 03 0 1417 6,~~013~~704,~~053~~763.7863 0.00 01,064,505.0093 0.00 67,~~013~~769,~~053~~269.7856 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 34.~~583062~~508197% 0.000000% 0.000000% 0.000000% 34.~~583062~~508197% 34.~~512667~~944399% 0.000000% 0.000000% 0.000000% 34.~~512667~~944399% 60 Days 0.~~651466~~409836% 0.000000% 0.~~000000~~409836% 0.000000% 0.~~651466~~819672% 0.~~814721~~521061% 0.000000% 0.~~000000~~420443% 0.000000% 0.~~814721~~941505% 90 Days 0.~~325733~~819672% 0.000000% 0.000000% 0.000000% 0.~~325733~~819672% 01.~~332183~~128089% 0.000000% 0.000000% 0.000000% 01.~~332183~~128089% 120 Days 0.000000% 0.000000% 0.~~000000~~819672% 0.000000% 0.~~000000~~819672% 0.000000% 0.000000% 0.~~000000~~626405% 0.000000% 0.~~000000~~626405% 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 45.~~560261~~737705% 0.000000% 01.~~000000~~229508% 0.000000% 46.~~560261~~967213% 46.~~659571~~593549% 0.000000% 01.~~000000~~046849% 0.000000% 47.~~659571~~640398%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 68115,~~130~~367.3818

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 75.~~033512~~734176% Weighted Average Net Coupon 65.~~766068~~392525% Weighted Average Pass-Through Rate 65.~~635517~~339374% Weighted Average Maturity(Stepdown Calculation ) ~~348~~346 Beginning Scheduled Collateral Loan Count 1,~~148~~376 Number Of Loans Paid In Full 48 Ending Scheduled Collateral Loan Count 1,~~100~~328 Beginning Scheduled Collateral Balance ~~468~~429,~~219~~284,~~417~~305.6635 Ending Scheduled Collateral Balance ~~361~~410,~~933~~132,~~609~~826.3397 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~362~~410,~~186~~378,~~748~~496.6230 Monthly P &I Constant 2,~~551~~378,~~497~~898.2320 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 ~~361~~410,~~933~~132,~~609~~826.3397 Scheduled Principal ~~321~~303,~~321~~587.2771 Unscheduled Principal 18,~~239~~847,~~385~~890.8467 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,341,097.00 Overcollateralized Amount 2,341,097.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 880,525.36 Excess Cash Amount 1,350,826.89

Beg Bal Group 1 Prefunding Account $87,725,001.09 End Bal Group 1 Prefunding Account $0.00 Amt Withdrawn Group 1 Prefunding Account for Subsequent Loans $87,725,001.09 Beg Bal Group 1 Interest Coverage Account $1,039,574.16 Group 1 Int Cvg Amount used for 10/27/03 Distribution $395,262.59

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 65.~~978661~~231515 7.~~127000~~122425 75.~~033512~~734176 Weighted Average Net Rate 04.~~000000~~873932 06.~~000000~~824778 65.~~766068~~392525 Weighted Average Maturity ~~357~~355 ~~330~~328 ~~348~~346 Beginning Loan Count ~~812~~1,102 ~~336~~274 1,~~148~~376 Loans Paid In Full 1918 2930 48 Ending Loan Count ~~793~~1,084 ~~307~~244 1,~~100~~328 Beginning Scheduled Balance ~~239~~315,~~800~~167,~~807~~684.9888 ~~140~~114,~~693~~116,~~508~~620.4347 ~~380~~429,~~494~~284,~~316~~305.4135 Ending scheduled Balance ~~232~~308,~~968~~518,~~054~~608.11 ~~128~~101,~~965~~614,~~555~~218.2286 ~~361~~410,~~933~~132,~~609~~826.3397 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant 1,~~606~~610,~~339~~801.7577 ~~945~~768,~~157~~096.4843 2,~~551~~378,~~497~~898.2320 Scheduled Principal ~~211~~212,~~765~~813.9383 ~~109~~90,~~555~~773.3488 ~~321~~303,~~321~~587.2771 Unscheduled Principal 6,~~620~~436,~~987~~262.94 1112,~~618~~411,~~397~~627.9073 18,~~239~~847,~~385~~890.8467 Scheduled Interest 1,~~394~~374,~~573~~003.8283 ~~835~~677,~~602~~322.1455 2,~~230~~051,~~175~~326.9638 Servicing Fees 6993,~~373~~915.4366 3428,~~978~~305.5139 ~~104~~122,~~351~~221.9405 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 6,~~980~~549.3354 1412,~~863~~464.1344 2119,~~843~~013.4698 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 1,~~318~~273,~~220~~538.0663 ~~785~~636,~~760~~552.5072 21,~~103~~910,~~980~~091.5635 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 64.~~596575~~848994 6.~~701891~~693708 65.~~635517~~339374

Filing Compare · STRUCTURED ASSET MORT INV INC BEAR STEARNS ALT A TR 03 4