8-K 1 bst02001_jan.txt JAN. 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): January 26, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-22 22-3844513 Pooling and Servicing Agreement) (Commission 22-3844518 (State or other File Number) 22-3844517 jurisdiction 22-3844514 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 January 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-1 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 2002-1 Trust, relating to the January 26, 2004 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 2002-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 2/5/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the January 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 1112/3031/03 Distribution Date: 121/26/0304 BST Series: ~~2000~~2002-21 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 A1I-A ~~07384MAA0~~07384MHZ8 SEN 4.~~01032~~32092% 65,~~837~~718,~~073~~321.1866 ~~220~~236,~~023~~636.0406 1,~~065~~296,~~152~~678.6475 A2II-A ~~07384MAB8~~07384MJA1 SEN 46.~~01032~~98000% 13,~~559~~888,~~252~~339.7856 522,~~210~~617.9217 25423,~~226~~716.5577 XPIII-A ~~07384MAG7~~07384MJK9 SEN 4.~~01032~~75101% ~~100~~8,843,932.0099 335,~~244~~014.7864 641,884.83 R-IA BST0201RA RES 0.00000% 0.00 0.00 0.00 R-IB ~~07384MAC6~~BST0201RB ~~SEN~~RES 70.~~55385~~00000% 0.00 0.00 0.00 B1R-II ~~07384MAD4~~BST0201R2 RES 0.00000% 0.00 0.00 0.00 R-III 07384MJL7 RES 6.08120% 0.00 0.00 0.00 B-1 07384MJM5 SUB 4.~~01032~~77681% 1,~~382~~485,~~372~~945.8748 45,~~619~~915.8007 226,~~364~~539.8873 B2B-2 ~~07384MAE2~~07384MJN3 SUB 4.~~01032~~77681% ~~737~~1,~~265~~485,945.5348 25,~~463~~915.8907 116,~~927~~539.9373 B3B-3 ~~07384MAF9~~07384MJP8 SUB 4.~~01032~~77681% ~~737~~1,~~265~~114,390.5338 24,~~463~~436.8903 114,~~927~~904.9349 B4B-4 ~~07384MAH5~~07384MJQ6 SUB 4.~~01032~~77681% ~~921~~520,~~581~~085.9150 32,~~079~~070.8629 142,~~909~~288.9293 B5B-5 ~~07384MAJ1~~07384MJR4 SUB 4.~~01032~~77681% ~~552~~297,~~949~~244.1507 1,~~847~~183.9223 81,~~945~~308.9519 B6B-6 ~~07384MAK8~~07384MJS2 SUB 4.~~01032~~77681% ~~737~~227,~~349~~901.8717 ~~2,464~~907.1720 111,~~929~~003.3001 Totals 7283,~~465~~582,~~210~~106.8229 ~~245~~314,~~418~~694.2776 12,~~172~~384,~~385~~864.1043

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1I-A 0.00 64,~~771~~421,~~920~~642.5491 1,~~285~~533,~~175~~314.6881 0.00 A2II-A 0.00 13,~~534~~464,~~026~~622.2379 30446,~~437~~333.94 0.00 III-A 0.00 8,202,048.16 676,899.47 0.00 XPR-IA 0.00 ~~100~~0.00 ~~3,244~~0.7800 0.00 R-IB 0.00 0.00 0.00 0.00 B1R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 B-1 0.00 1,~~360~~479,~~007~~405.9975 2612,~~984~~454.6880 0.00 B2B-2 0.00 ~~725~~1,~~337~~479,405.5975 1412,~~391~~454.8280 0.00 B3B-3 0.00 ~~725~~1,~~337~~109,485.5989 149,~~391~~340.8252 0.00 B4B-4 0.00 ~~906~~517,~~671~~796.9957 174,~~989~~359.7822 0.00 B5B-5 0.00 ~~544~~295,~~003~~935.2088 102,~~793~~491.8742 0.00 B6B-6 0.00 ~~725~~226,~~420~~898.5717 141,~~393~~910.4721 072,909.0088 Totals 0.00 7181,~~292~~197,~~825~~241.7087 12,~~417~~699,~~803~~559.3719 072,909.0088 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) A1I-A ~~226~~119,~~292~~408,~~500~~000.00 65,~~837~~718,~~073~~321.1866 70321,~~820~~949.6651 ~~994~~974,~~331~~729.9824 0.00 0.00 A2II-A 515,~~359~~660,~~400~~500.00 13,~~559~~888,~~252~~339.7856 18,~~677~~642.2888 23415,~~549~~073.2789 0.00 0.00 XPIII-A 21,424,100.00 ~~100~~8,843,932.99 29,753.53 612,131.30 0.00 0.00 R-IA 0.00 0.00 0.00 0.00 0.00 0.00 R-IB ~~100~~0.00 0.00 0.00 0.00 0.00 0.00 B1R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 1,~~786~~621,~~500~~700.00 1,~~382~~485,~~372~~945.8748 16,~~487~~539.0173 ~~20,877~~0.8700 0.00 0.00 B2B-2 ~~952~~1,~~800~~621,700.00 ~~737~~1,~~265~~485,945.5348 ~~793~~6,539.0773 ~~11,134~~0.8600 0.00 0.00 B3B-3 ~~952~~1,~~800~~216,200.00 ~~737~~1,~~265~~114,390.5338 ~~793~~4,904.0749 ~~11,134~~0.8600 0.00 0.00 B4B-4 1567,~~191,000~~600.00 ~~921~~520,~~581~~085.9150 ~~991~~2,288.3493 ~~13,918~~0.5800 0.00 0.00 B5B-5 ~~714~~324,~~600~~400.00 ~~552~~297,~~949~~244.1507 ~~594~~1,308.8119 ~~8,351~~0.1500 0.00 0.00 B6B-6 ~~952~~324,~~909~~455.0058 ~~737~~227,~~349~~901.8717 ~~793~~1,003.1601 ~~11,136~~0.1400 0.00 0.00 Totals ~~238~~162,~~202~~168,~~709~~705.0058 7283,~~465~~582,~~210~~106.8229 77382,~~950~~930.4000 12,~~094~~001,~~434~~934.7143 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 A1I-A 1,~~065~~296,~~152~~678.6475 64,~~771~~421,~~920~~642.5491 0.~~28623096~~53950860 1,~~065~~296,~~152~~678.6475 A2II-A 25423,~~226~~716.5577 13,~~534~~464,~~026~~622.2379 0.~~28623096~~22123322 25423,~~226~~716.5577 XPIII-A 641,884.83 8,202,048.16 0.38284213 641,884.83 R-IA 0.00 ~~100~~0.00 10.00000000 0.00 R-IB 0.00 0.00 0.00000000 0.00 B1R-II 220.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 B-1 6,~~364~~539.8873 1,~~360~~479,~~007~~405.9975 0.~~76126952~~91225612 226,~~364~~539.8873 B2B-2 116,~~927~~539.9373 ~~725~~1,~~337~~479,405.5975 0.~~76126951~~91225612 116,~~927~~539.9373 B3B-3 114,~~927~~904.9349 ~~725~~1,~~337~~109,485.5989 0.~~76126951~~91225612 114,~~927~~904.9349 B4B-4 142,~~909~~288.9293 ~~906~~517,~~671~~796.9957 0.~~76126951~~91225611 142,~~909~~288.9293 B5B-5 81,~~945~~308.9519 ~~544~~295,~~003~~935.2088 0.~~76126952~~91225610 81,~~945~~308.9519 B6B-6 111,~~929~~003.3001 ~~725~~226,~~420~~898.5717 0.~~76126951~~69931967 111,~~929~~003.3001 Totals 12,~~172~~384,~~385~~864.1043 7181,~~292~~197,~~825~~241.7087 0.~~29929477~~50069612 12,~~172~~384,~~385~~864.1043

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1I-A ~~226~~119,~~292~~408,~~500~~000.00 ~~290~~550.~~93793732~~36782845 02.~~31296070~~69621391 48.~~39401209~~16301454 0.00000000 A2II-A 515,~~359~~660,~~400~~500.00 ~~290~~248.~~93793708~~28961783 0.~~31296041~~55189042 426.~~39401239~~50451071 0.00000000 XPIII-A 21,424,100.00 ~~1000~~412.80301109 1.38878786 28.57208938 0.00000000 R-IA 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IB ~~100~~0.00 0.00000000 0.00000000 0.00000000 0.00000000 B1R-II ~~1,786,500~~0.00 ~~773~~0.~~78834033~~00000000 0.~~83235936~~00000000 110.~~68646516~~00000000 0.00000000 B2R-III ~~952,800~~50.00 ~~773~~0.~~78833963~~00000000 0.~~83235726~~00000000 110.~~68646096~~00000000 0.00000000 B3B-1 ~~952~~1,~~800~~621,700.00 ~~773~~916.~~78833963~~28875871 04.~~83235726~~03263859 110.~~68646096~~00000000 0.00000000 B4B-2 1,~~191~~621,~~000~~700.00 ~~773~~916.~~78833753~~28875871 4.03263859 0.~~83235936~~00000000 110.~~68646516~~00000000 B-3 1,216,200.00 916.28875185 4.03263444 0.00000000 B50.00000000 ~~714~~B-4 567,600.00 ~~773~~916.~~78834313~~28875969 04.~~83236776~~03264623 110.~~68646795~~00000000 0.00000000 B6B-5 ~~952~~324,~~909~~400.00 ~~773~~916.~~78833656~~28874846 04.~~83235650~~03264488 110.~~68646744~~00000000 0.00000000 ~~All~~B-6 ~~denominations~~324,455.58 ~~are~~702.41100492 ~~Per~~3.09136308 ~~$1000~~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 A1I-A 0.00000000 410.~~70697279~~85922844 ~~286~~539.~~23096453~~50860001 0.~~28623096~~53950860 410.~~70697279~~85922844 A2II-A 0.00000000 427.~~70697280~~05640114 ~~286~~221.~~23096429~~23321669 0.~~28623096~~22123322 427.~~70697280~~05640114 XPIII-A 0.00000000 29.96087724 382.84213386 0.38284213 29.96087724 R-IA 0.00000000 ~~1,000~~0.00000000 10.00000000 0.00000000 0.00000000 R-IB 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1R-II 0.00000000 120.~~51882452~~00000000 ~~761~~0.~~26951581~~00000000 0.~~76126952~~00000000 120.~~51882452~~00000000 B2R-III 0.00000000 120.~~51881822~~00000000 ~~761~~0.~~26951092~~00000000 0.~~76126951~~00000000 120.~~51881822~~00000000 B3B-1 0.00000000 124.~~51881822~~03263859 ~~761~~912.~~26951092~~25612012 0.~~76126951~~91225612 124.~~51881822~~03263859 B4B-2 0.00000000 124.~~51882452~~03263859 ~~761~~912.~~26951301~~25612012 0.~~76126951~~91225612 124.~~51882452~~03263859 B5B-3 0.00000000 124.~~51882172~~03263444 ~~761~~912.~~26952141~~25611741 0.~~76126952~~91225612 124.~~51882172~~03263444 B6B-4 0.00000000 124.~~51882394~~03264623 ~~761~~912.~~26951262~~25611346 0.~~76126951~~91225611 124.~~51882394~~03264623 B-5 0.00000000 4.03264488 912.25610358 0.91225610 4.03264488 B-6 0.00000000 3.09136308 699.31967267 0.69931967 3.09136308 (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 A1I-A ~~226~~119,~~292~~408,~~500~~000.00 4.~~01032~~32092% 65,~~837~~718,~~073~~321.1866 ~~220~~236,~~023~~636.0408 0.00 0.00 A2II-A 515,~~359~~660,~~400~~500.00 46.~~01032~~98000% 13,~~559~~888,~~252~~339.7856 522,~~210~~617.9218 0.00 0.00 XPIII-A 21,424,100.00 4.~~01032~~75101% ~~100~~8,843,932.99 35,014.64 0.00 0.3300 R-IA 0.00 0.00000% 0.00 0.00 0.00 0.00 R-IB ~~100~~0.00 70.~~55385~~00000% 0.00 0.00 0.00 0.00 B1R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 50.00 6.08120% 0.00 0.00 0.00 0.00 B-1 1,~~786~~621,~~500~~700.00 4.~~01032~~77681% 1,~~382~~485,~~372~~945.8748 45,~~619~~915.8007 0.00 0.00 B2B-2 ~~952~~1,~~800~~621,700.00 4.~~01032~~77681% ~~737~~1,~~265~~485,945.5348 25,~~463~~915.8907 0.00 0.00 B3B-3 ~~952~~1,~~800~~216,200.00 4.~~01032~~77681% ~~737~~1,~~265~~114,390.5338 24,~~463~~436.8903 0.00 0.00 B4B-4 1567,~~191,000~~600.00 4.~~01032~~77681% ~~921~~520,~~581~~085.9150 32,~~079~~070.8629 0.00 0.00 B5B-5 ~~714~~324,~~600~~400.00 4.~~01032~~77681% ~~552~~297,~~949~~244.1507 1,~~847~~183.9223 0.00 0.00 B6B-6 ~~952~~324,~~909~~455.0058 4.~~01032~~77681% ~~737~~227,~~349~~901.8717 ~~2,464~~907.1720 0.00 0.00 Totals ~~238~~162,~~202~~168,~~709~~705.0058 ~~242~~314,~~173~~694.8279 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 A1I-A 0.0002 0.00 ~~220~~236,~~023~~636.0406 0.00 64,~~771~~421,~~920~~642.5491 A2II-A 0.00 0.00 522,~~210~~617.9217 0.00 13,~~534~~464,~~026~~622.2379 XPIII-A 0.00 0.00 335,~~244~~014.7864 0.1800 ~~100~~8,202,048.16 R-IA 0.00 0.00 0.00 0.00 0.00 R-IB 0.00 0.00 0.00 0.00 0.00 B1R-II 0.00 0.00 40.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 5,~~619~~915.8007 0.00 1,~~360~~479,~~007~~405.9975 B2B-2 0.00 0.00 25,~~463~~915.8907 0.00 ~~725~~1,~~337~~479,405.5975 B3B-3 0.00 0.00 24,~~463~~436.8903 0.00 ~~725~~1,~~337~~109,485.5989 B4B-4 0.00 0.00 32,~~079~~070.8629 0.00 ~~906~~517,~~671~~796.9957 B5B-5 0.00 0.00 1,~~847~~183.9223 0.00 ~~544~~295,~~003~~935.2088 B6B-6 0.00 0.00 ~~2,464~~907.1720 0.00 ~~725~~226,~~420~~898.5717 Totals 0.0002 0.00 ~~245~~314,~~418~~694.2776 0.1800 (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 A1I-A ~~226~~119,~~292~~408,~~500~~000.00 4.~~01032~~32092% ~~290~~550.~~93793732~~36782845 1.98174394 0.~~97229488~~00000000 0.00000000 II-A 15,660,500.00 6.98000% 248.28961783 1.44421826 0.00000000 A20.00000000 5III-A 21,~~359~~424,~~400~~100.00 4.~~01032~~75101% ~~290~~412.~~93793708~~80301109 1.63435757 0.~~97229541~~00000000 0.00000000 R-IA 0.00 0.00000% 0.00000000 XP0.00000000 ~~100~~0.00000000 0.00000000 R-IB 0.00 40.~~01032~~00000% ~~1000~~0.00000000 30.~~30000000~~00000000 0.00000000 0.00000000 R-II ~~100~~0.00 70.~~55385~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 B1R-III ~~1,786,500~~50.00 46.~~01032~~08120% ~~773~~0.~~78834033~~00000000 20.~~58595018~~00000000 0.00000000 0.00000000 B2B-1 ~~952~~1,~~800~~621,700.00 4.~~01032~~77681% ~~773~~916.~~78833963~~28875871 23.~~58594668~~64745021 0.00000000 0.00000000 B3B-2 ~~952~~1,~~800~~621,700.00 4.~~01032~~77681% ~~773~~916.~~78833963~~28875871 23.~~58594668~~64745021 0.00000000 0.00000000 B4B-3 1,~~191~~216,~~000~~200.00 4.~~01032~~77681% ~~773~~916.~~78833753~~28875185 23.~~58594458~~64745108 0.00000000 0.00000000 B5B-4 ~~714~~567,600.00 4.~~01032~~77681% ~~773~~916.~~78834313~~28875969 23.~~58595018~~64744538 0.00000000 0.00000000 B6B-5 ~~952~~324,~~909~~400.00 4.~~01032~~77681% ~~773~~916.~~78833656~~28874846 23.~~58594472~~64744143 0.00000000 0.00000000 ~~All~~B-6 ~~denominations~~324,455.58 ~~are~~4.77681% 702.41100492 2.79606842 0.00000000 0.00000000 (5) Per $~~1000~~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 A1I-A 0.00000017 0.00000000 1.98174377 0.00000000 539.50860001 II-A 0.~~97229488~~00000000 0.00000000 ~~286~~1.~~23096453~~44421762 A20.00000000 221.23321669 III-A 0.00000000 0.00000000 1.63435757 0.~~97229541~~00000000 382.84213386 R-IA 0.00000000 ~~286~~0.~~23096429~~00000000 XP0.00000000 0.00000000 0.00000000 ~~32447~~R-IB 0.~~80000000~~00000000 10.~~80000000~~00000000 ~~1000~~0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B1R-III 0.00000000 0.00000000 20.~~58595018~~00000000 0.00000000 ~~761~~0.~~26951581~~00000000 B2B-1 0.00000000 0.00000000 3.64745021 0.00000000 912.25612012 B-2 0.~~58594668~~00000000 0.00000000 ~~761~~3.~~26951092~~64745021 B30.00000000 912.25612012 B-3 0.00000000 0.00000000 23.~~58594668~~64745108 0.00000000 ~~761~~912.~~26951092~~25611741 B4B-4 0.00000000 0.00000000 23.~~58594458~~64744538 0.00000000 ~~761~~912.~~26951301~~25611346 B5B-5 0.00000000 0.00000000 23.~~58595018~~64744143 0.00000000 ~~761~~912.~~26952141~~25610358 B6B-6 0.00000000 0.00000000 2.~~58594472~~79606842 0.00000000 ~~761~~699.~~26951262~~31967267 (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 12,~~440~~748,~~791~~561.1259 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 141,~~252~~564.9287 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 12,~~442~~790,~~044~~126.0446 Withdrawals Reimbursement for Servicer Advances 155,~~293~~928.3347 Payment of Service Fee 2234,~~947~~638.3480 Payment of Interest and Principal 12,~~417~~699,~~803~~559.3719 Total Withdrawals (Pool Distribution Amount) 12,~~442~~790,~~044~~126.0446 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2226,~~645~~111.3953 FNMA Guaranty Fee 7,830.75 Trustee Fee ~~301~~696.9552 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2234,~~947~~638.3480

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 0225,112.0050 0.00 0.00 0225,112.0050 30 Days 055 0 0 0 055 03,093,507.0084 0.00 0.00 0.00 03,093,507.0084 60 Days 019 01 0 0 020 01,145,647.0016 022,793.0012 0.00 0.00 01,168,440.0028 90 Days 12 0 0 0 12 ~~388~~103,~~000~~065.0009 0.00 0.00 0.00 ~~388~~103,~~000~~065.0009 120 Days 01 0 01 0 02 0289,150.0064 0.00 0231,514.0043 0.00 0520,665.0007 150 Days 02 0 01 0 03 058,083.0023 0.00 030,163.0013 0.00 088,246.0036 180+ Days 03 0 01 01 05 0112,477.0002 0.00 053,653.0069 020,813.0012 0186,943.0083 Totals 182 06 03 0 1 ~~388~~92 4,~~000~~801,930.0098 0247,905.0062 0315,331.0025 020,813.0012 ~~388~~5,~~000~~385,980.0097 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~~329381% 0.000000% 0.000000% 0.~~000000~~329381% 0.~~000000~~276083% 0.000000% 0.000000% 0.~~000000~~276083% 30 Days 03.~~000000~~623188% 0.000000% 0.000000% 0.000000% 03.~~000000~~623188% 03.~~000000~~793944% 0.000000% 0.000000% 0.000000% 03.~~000000~~793944% 60 Days 01.~~000000~~251647% 0.~~000000~~065876% 0.000000% 0.000000% 01.~~000000~~317523% 01.~~000000~~405046% 0.~~000000~~027954% 0.000000% 0.000000% 01.~~000000~~433000% 90 Days 0.~~990099~~131752% 0.000000% 0.000000% 0.000000% 0.~~990099~~131752% 0.~~544234~~126401% 0.000000% 0.000000% 0.000000% 0.~~544234~~126401% 120 Days 0.~~000000~~065876% 0.000000% 0.~~000000~~065876% 0.000000% 0.~~000000~~131752% 0.~~000000~~354620% 0.000000% 0.~~000000~~283934% 0.000000% 0.~~000000~~638555% 150 Days 0.~~000000~~131752% 0.000000% 0.~~000000~~065876% 0.000000% 0.~~000000~~197628% 0.~~000000~~071235% 0.000000% 0.~~000000~~036993% 0.000000% 0.~~000000~~108227% 180+ Days 0.~~000000~~197628% 0.000000% 0.~~000000~~065876% 0.~~000000~~065876% 0.~~000000~~329381% 0.~~000000~~137944% 0.000000% 0.~~000000~~065802% 0.~~000000~~025526% 0.~~000000~~229272% Totals 05.~~990099~~401845% 0.~~000000~~395257% 0.~~000000~~197628% 0.~~000000~~065876% 06.~~990099~~060606% 05.~~544234~~889190% 0.~~000000~~304037% 0.~~000000~~386729% 0.~~000000~~025526% 06.~~544234~~605481%

Delinquency Status By Groups

~~OTHER~~DELINQUENT ~~INFORMATION~~BANKRUPTCY ~~Current~~FORECLOSURE ~~Period~~REO ~~Class~~Total AGroup ~~Insufficient~~1 ~~Funds~~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 5 0 0 5 225,112.50 0.00 0.00 225,112.50 30 Days 55 0 0 0 55 3,093,507.84 0.00 0.00 0.00 3,093,507.84 60 Days 17 1 0 0 18 798,152.48 22,793.12 0.00 0.00 820,945.60 90 Days 2 0 0 0 2 103,065.09 0.00 0.00 0.00 103,065.09 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 2 0 1 0 3 58,083.23 0.00 30,163.13 0.00 88,246.36 180 Days 3 0 1 1 5 112,477.02 0.00 53,653.69 20,813.12 186,943.83 Totals 79 6 2 1 88 4,165,285.66 247,905.62 83,816.82 20,813.12 4,517,821.22 0-29 Days 0.340136% 0.000000% 0.000000% 0.340136% 0.328340% 0.000000% 0.000000% 0.328340% 30 Days 3.741497% 0.000000% 0.000000% 0.000000% 3.741497% 4.512070% 0.000000% 0.000000% 0.000000% 4.512070% 60 Days 1.156463% 0.068027% 0.000000% 0.000000% 1.224490% 1.164154% 0.033245% 0.000000% 0.000000% 1.197399% 90 Days 0.136054% 0.000000% 0.000000% 0.000000% 0.136054% 0.150327% 0.000000% 0.000000% 0.000000% 0.150327% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.136054% 0.000000% 0.068027% 0.000000% 0.204082% 0.084718% 0.000000% 0.043995% 0.000000% 0.128713% 180 Days 0.204082% 0.000000% 0.068027% 0.068027% 0.340136% 0.164055% 0.000000% 0.078257% 0.030357% 0.272669% Totals 5.374150% 0.408163% 0.136054% 0.068027% 5.986395% 6.075323% 0.361585% 0.122252% 0.030357% 6.589518% 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 106,161.74 0.00 0.00 0.00 106,161.74 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 1 0 0 0 1 106,161.74 0.00 0.00 0.00 106,161.74 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 3.571429% 0.000000% 0.000000% 0.000000% 3.571429% 2.646252% 0.000000% 0.000000% 0.000000% 2.646252% 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 3.571429% 0.000000% 0.000000% 0.000000% 3.571429% 2.646252% 0.000000% 0.000000% 0.000000% 2.646252% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of ~~Contaminated~~Loans ~~Properties~~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 ~~Periodic~~0.00 ~~Advance~~0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 1 0 0 0 1 241,~~252~~332.9294 0.00 0.00 0.00 241,332.94 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 1 0 2 289,150.64 0.00 231,514.43 0.00 520,665.07 150 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 2 0 1 0 3 530,483.58 0.00 231,514.43 0.00 761,998.01 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 5.000000% 0.000000% 0.000000% 0.000000% 5.000000% 2.691780% 0.000000% 0.000000% 0.000000% 2.691780% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 5.000000% 0.000000% 5.000000% 0.000000% 10.000000% 3.225129% 0.000000% 2.582266% 0.000000% 5.807395% 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 10.000000% 0.000000% 5.000000% 0.000000% 15.000000% 5.916909% 0.000000% 2.582266% 0.000000% 8.499174%

~~SUBORDINATION~~OTHER ~~LEVEL/CLASS~~INFORMATION ~~PERCENTAGE AND PREPAYMENT PERCENTAGE~~ Current ~~Original~~Period ~~$ Original % Current $ Current %~~ Class% ~~Prepayment% Class~~ A ~~6,550,809.00~~Insufficient ~~2.75009960%~~Funds ~~4,986,878.93 6.99492405% 93.005218% 93.005207% Class R 6,550,709.00 2.75005762% 4,986,878.93 6.99492405%~~ 0.~~000000% 0.000000% Class B-1 4,764,109.~~00 ~~2.00002385%~~Principal ~~3,626,770.94~~Balance ~~5.08714722%~~of ~~1.907637%~~Contaminated ~~1.907639%~~Properties ~~Class B-2 3,811,309~~0.00 ~~1.60002823%~~Periodic ~~2,901,433.35~~Advance ~~4.06974106% 1.017406% 1.017408% Class B-3 2~~41,~~858,509~~564.00 1.20003262% 2,176,095.76 3.05233489% 1.017406% 1.017408% Class B-4 1,667,509.00 0.70003809% 1,269,423.77 1.78057719% 1.271758% 1.271759% Class B-5 952,909.00 0.40004138% 725,420.57 1.01752256% 0.763055% 0.763056% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.017523% 1.017524% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure87

~~COLLATERAL~~SUBORDINATION ~~STATEMENT~~LEVEL/CLASS ~~Collateral~~PERCENTAGE ~~Description~~AND ~~Mixed~~PREPAYMENT ~~ARM~~PERCENTAGE ~~Weighted~~Current ~~Average~~Original ~~Gross~~$ ~~Coupon~~Original ~~4.390319~~% ~~Weighted~~Current ~~Average~~$ ~~Net~~Current ~~Coupon~~% ~~4.015319~~Class% ~~Weighted~~Prepayment% ~~Average~~Class ~~Pass-Through~~A ~~Rate~~42,760,705.58 426.~~010319~~36803780% ~~Weighted~~16,775,598.96 ~~Average~~20.66030640% ~~Maturity(Stepdown~~79.339694% ~~Calculation~~0.000000% )Class ~~297~~2A ~~Beginning~~27,100,205.58 ~~Scheduled~~16.71111913% ~~Collateral~~13,310,976.17 ~~Loan~~16.39338463% ~~Count~~4.266922% ~~103~~67.815064% ~~Number~~Class Of3A ~~Loans~~5,676,105.58 ~~Paid~~3.50012387% In5,108,928.01 ~~Full~~6.29199698% 210.101388% ~~Ending~~160.543428% ~~Scheduled~~Class ~~Collateral~~R-II ~~Loan~~5,676,105.58 ~~Count~~3.50012387% ~~101~~5,108,928.01 ~~Beginning~~6.29199698% ~~Scheduled~~0.000000% ~~Collateral~~0.000000% ~~Balance~~Class 72R-III 5,~~465~~676,~~209~~055.6258 ~~Ending~~3.50009304% ~~Scheduled~~5,108,928.01 ~~Collateral~~6.29199698% ~~Balance~~0.000000% 710.000000% Class B-1 4,~~292~~054,~~824~~355.5158 ~~Ending~~2.50008506% ~~Actual~~3,629,522.26 ~~Collateral~~4.47000683% ~~Balance~~1.821990% at28.957264% 30Class B-~~Nov-2003~~2 712,~~292~~432,~~824~~655.58 1.50007708% 2,150,116.51 ~~Monthly~~2.64801668% P1.821990% &I28.957264% ~~Constant~~Class ~~343~~B-3 1,~~071~~216,455.5558 ~~Special~~0.75011734% ~~Servicing~~1,040,630.62 ~~Fee~~1.28160834% 1.366408% 21.716608% Class B-4 648,855.58 0.0040011146% ~~Prepayment~~522,834.05 ~~Penalties~~0.64390617% 0.00637702% ~~Realized~~10.135131% ~~Loss~~Class ~~Amount~~B-5 324,455.58 0.0020007287% ~~Cumulative~~226,898.17 ~~Realized~~0.27944074% ~~Loss~~0.364465% 5.792524% Class B-6 0.00 ~~Class~~0.00000000% A0.00 ~~Optimal~~0.00000000% ~~Amount~~0.279441% ~~1,315,613~~4.15441209% ~~Ending~~Please ~~Scheduled~~Refer ~~Balance~~to ~~for~~the ~~Premium~~Prospectus ~~Loans~~Supplement ~~71,292,824.51~~for ~~Scheduled~~a ~~Principal~~Full ~~77,950.41~~Description ~~Unscheduled~~of ~~Principal~~Loss ~~1,094,434.70~~Exposure

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT SER 2000 2