8-K 1 bsa03002.txt MARCH 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): March 25, 2004 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-05 54-2121830 Pooling and Servicing Agreement) (Commission 54-2121828 (State or other File Number) 54-2121829 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, 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 March 25, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2003-2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2003-2 Trust, relating to the March 25, 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 ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2003-2 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 4/2/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset- Backed Certificates, Series 2003-2 Trust, relating to the March 25, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 112/3029/032004 Distribution Date: 123/2625/032004 BSA Series: 2003-2 Contact: ~~CTSLink~~ Customer Service - CTSLink Wells Fargo Bank ~~Minnesota~~, N.A. ~~Corporate~~Securities ~~Trust~~Administration Services ~~9062~~7485 ~~Old~~New ~~Annapolis~~Horizon ~~Road~~Way ~~Columbia~~Frederick, MD ~~21045-1951~~21703 Telephone: (301) 815-6600 Fax: (301) 815-~~6600~~6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 07384YJN7 SEN 1.~~51875~~49000% ~~156~~136,~~500~~036,~~389~~604.0051 ~~204~~163,~~673~~281.1671 94,~~900~~008,~~657~~752.6912 A-2 07384YJP2 SEN 1.~~56875~~54000% ~~171~~154,~~988~~861,~~361~~183.2442 ~~232~~192,~~333~~113.5890 6,~~702~~723,~~391~~312.3778 A-3 07384YJQ0 SEN 1.~~86875~~84000% 28,579,000.00 4542,~~989~~360.3743 0.00 A-IO 07384YJT4 IO 5.00000% 0.00 215,416.67 0.00 M-1 07384YJU1 MEZ 2.~~31875~~29000% 25,851,000.00 5147,~~616~~687.7391 0.00 M-2 07384YJV9 MEZ 3.~~11875~~09000% 23,265,000.00 6257,~~480~~910.2646 0.00 B 07384YJW7 SUB 4.~~61875~~59000% 20,680,000.00 8276,~~249~~464.6730 0.00 B-IO BSA032BIO IO 0.00000% 0.00 ~~241~~1,~~262~~567,973.8190 0.00 R-1 BSA0302R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA0302R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA0302R3 RES 0.00000% 0.00 0.00 0.00 OC BSA0302OC OC 0.00000% 79,~~796~~306,~~474~~154.6725 0.00 0.00 Totals ~~434~~398,~~660~~578,~~224~~942.9118 12,~~136~~363,~~022~~209.2528 1610,~~603~~732,~~049~~064.0690

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~146~~132,~~599~~027,~~731~~852.3139 104,~~105~~172,~~330~~033.8583 0.00 A-2 0.00 ~~165~~148,~~285~~137,~~969~~870.8764 6,~~934~~915,~~724~~426.9568 0.00 A-3 0.00 28,579,000.00 4542,~~989~~360.3743 0.00 A-IO 0.00 0.00 215,416.67 0.00 M-1 0.00 25,851,000.00 5147,~~616~~687.7391 0.00 M-2 0.00 23,265,000.00 6257,~~480~~910.2646 0.00 B 0.00 20,680,000.00 8276,~~249~~464.6730 0.00 B-IO 0.00 0.00 ~~241~~1,~~262~~567,973.8190 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 OC 0.00 9,306,154.25 0.00 0.00 Totals 0.00 ~~419~~387,~~566~~846,~~855~~877.4328 1713,~~739~~095,~~071~~274.3118 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-1 200,005,000.00 ~~156~~136,~~500~~036,~~389~~604.0051 0.00 94,~~900~~008,~~657~~752.6912 0.00 0.00 A-2 218,628,000.00 ~~171~~154,~~988~~861,~~361~~183.2442 0.00 6,~~702~~723,~~391~~312.3778 0.00 0.00 A-3 28,579,000.00 28,579,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 25,851,000.00 25,851,000.00 0.00 0.00 0.00 0.00 M-2 23,265,000.00 23,265,000.00 0.00 0.00 0.00 0.00 B 20,680,000.00 20,680,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 OC 569.35 79,~~796~~306,~~474~~154.6725 0.00 0.00 0.00 0.00 Totals 517,008,719.35 ~~434~~398,~~660~~578,~~224~~942.9118 0.00 1610,~~603~~732,~~049~~064.0690 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-1 94,~~900~~008,~~657~~752.6912 ~~146~~132,~~599~~027,~~731~~852.3139 0.~~73298033~~66012276 94,~~900~~008,~~657~~752.6912 A-2 6,~~702~~723,~~391~~312.3778 ~~165~~148,~~285~~137,~~969~~870.8764 0.~~75601465~~67757959 6,~~702~~723,~~391~~312.3778 A-3 0.00 28,579,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 25,851,000.00 1.00000000 0.00 M-2 0.00 23,265,000.00 1.00000000 0.00 B 0.00 20,680,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 OC 0.00 9,306,154.25 16,345.22569597 0.00 Totals 1610,~~603~~732,~~049~~064.0690 ~~419~~387,~~566~~846,~~855~~877.4328 0.~~81152762~~75017473 1610,~~603~~732,~~049~~064.0690

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 200,005,000.00 ~~782~~680.~~48238294~~16601840 0.00000000 4920.~~50205090~~04325952 0.00000000 A-2 218,628,000.00 ~~786~~708.~~67124632~~33188530 0.00000000 30.~~65660103~~75229513 0.00000000 A-3 28,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 25,851,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 23,265,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 20,680,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 ~~13693641~~16345225.~~29270220~~69596910 0.00000000 0.00000000 0.00000000 All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 4920.~~50205090~~04325952 ~~732~~660.~~98033204~~12275888 0.~~73298033~~66012276 4920.~~50205090~~04325952 A-2 0.00000000 30.~~65660103~~75229513 ~~756~~677.~~01464529~~57959017 0.~~75601465~~67757959 30.~~65660103~~75229513 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 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 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.~~0000000016~~00000000 16,345,225.69596910 16345.22569597 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-1 200,005,000.00 1.~~51875~~49000% ~~156~~136,~~500~~036,~~389~~604.0051 ~~204~~163,~~673~~281.1671 0.00 0.00 A-2 218,628,000.00 1.~~56875~~54000% ~~171~~154,~~988~~861,~~361~~183.2442 ~~232~~192,~~333~~113.5890 0.00 0.00 A-3 28,579,000.00 1.~~86875~~84000% 28,579,000.00 4542,~~989~~360.3743 0.00 0.00 A-IO 0.00 5.00000% 51,700,000.00 215,416.67 0.00 0.00 M-1 25,851,000.00 2.~~31875~~29000% 25,851,000.00 5147,~~616~~687.7391 0.00 0.00 M-2 23,265,000.00 3.~~11875~~09000% 23,265,000.00 6257,~~480~~910.2646 0.00 0.00 B 20,680,000.00 4.~~61875~~59000% 20,680,000.00 8276,~~249~~464.6730 0.00 0.00 B-IO 0.00 0.00000% ~~434~~398,~~660~~578,~~224~~942.9118 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 OC 569.35 0.00000% 79,~~796~~306,~~474~~154.6725 0.00 0.00 0.00 Totals 517,008,719.35 ~~894~~795,~~759~~235.4438 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-1 0.00 0.00 ~~204~~163,~~673~~281.1671 0.00 ~~146~~132,~~599~~027,~~731~~852.3139 A-2 0.00 0.00 ~~232~~192,~~333~~113.5890 0.00 ~~165~~148,~~285~~137,~~969~~870.8764 A-3 0.00 0.00 4542,~~989~~360.3743 0.00 28,579,000.00 A-IO 0.00 0.00 215,416.67 0.00 51,700,000.00 M-1 0.00 0.00 5147,~~616~~687.7391 0.00 25,851,000.00 M-2 0.00 0.00 6257,~~480~~910.2646 0.00 23,265,000.00 B 0.00 0.00 8276,~~249~~464.6730 0.00 20,680,000.00 B-IO 0.00 0.00 ~~241~~1,~~262~~567,973.8190 0.00 ~~419~~387,~~566~~846,~~855~~877.4328 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 9,306,154.25 Totals 0.00 0.00 12,~~136~~363,~~022~~209.2528 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-1 200,005,000.00 1.~~51875~~49000% ~~782~~680.~~48238294~~16601840 10.~~02334022~~81638814 0.00000000 0.00000000 A-2 218,628,000.00 1.~~56875~~54000% ~~786~~708.~~67124632~~33188530 10.~~06268904~~87872505 0.00000000 0.00000000 A-3 28,579,000.00 1.~~86875~~84000% 1000.00000000 1.~~60920151~~48222226 0.00000000 0.00000000 A-IO 0.00 5.00000% 1000.00000000 4.16666673 0.00000000 0.00000000 M-1 25,851,000.00 2.~~31875~~29000% 1000.00000000 1.~~99670148~~84472206 0.00000000 0.00000000 M-2 23,265,000.00 3.~~11875~~09000% 1000.00000000 2.~~68559037~~48916656 0.00000000 0.00000000 B 20,680,000.00 4.~~61875~~59000% 1000.00000000 3.~~97725677~~69750000 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~840~~770.~~72150962~~93295123 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 569.35 0.00000% ~~13693641~~16345225.~~29270220~~69596910 0.00000000 0.00000000 0.00000000 All Classes are per $1,000 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 A-1 0.00000000 0.00000000 10.~~02334022~~81638814 0.00000000 ~~732~~660.~~98033204~~12275888 A-2 0.00000000 0.00000000 10.~~06268904~~87872505 0.00000000 ~~756~~677.~~01464529~~57959017 A-3 0.00000000 0.00000000 1.~~60920151~~48222226 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.16666673 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 1.~~99670148~~84472206 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~68559037~~48916656 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~97725677~~69750000 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 03.~~46665147~~03278126 0.00000000 ~~811~~750.~~52785525~~17494926 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 16345225.69596910 (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 1713,~~879~~309,~~080~~001.1403 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~470~~490,~~257~~129.4251 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(58,145.0003) Prepayment Penalties 0.00 Total Deposits 1813,~~349~~740,~~337~~985.5651 Withdrawals Reimbursement for Servicer Advances ~~443~~492,~~173~~457.4968 Payment of Service Fee ~~167~~153,~~092~~253.7665 Payment of Interest and Principal 1713,~~739~~095,~~071~~274.3118 Total Withdrawals (Pool Distribution Amount) 1813,~~349~~740,~~337~~985.5651 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~163~~149,~~470~~932.5917 Master Servicing Fee 3,~~622~~321.1748 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~167~~153,~~092~~253.7665

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 95120 10 0 96120 68,~~755~~347,~~122~~131.4942 ~~149,371~~0.8400 0.00 68,~~904~~347,~~494~~131.3342 30 Days ~~203~~192 2513 25 0 ~~230~~210 1819,~~740~~027,~~885~~996.4915 1677,~~752,639~~888.8084 ~~149~~371,~~537~~868.0020 0.00 20,~~643~~077,~~062~~753.2919 60 Days 92 1510 48 0 ~~111~~110 9,~~074~~876,~~800~~085.8240 1838,~~137,166~~536.1793 ~~384~~2,~~422~~026,982.6998 0.00 1012,~~596~~741,~~389~~605.6831 90 Days 3429 53 1832 0 5764 32,~~261~~356,~~350~~194.6926 ~~266~~172,~~957~~997.8102 23,~~224~~308,~~162~~190.9859 0.00 5,~~752~~837,~~471~~381.4887 120 Days 2712 57 2721 0 5940 3757,~~132,876~~249.5921 ~~324~~436,~~904~~928.1845 42,~~114~~127,~~086~~772.8913 0.00 73,~~571~~321,~~867~~949.6679 150 Days 105 109 2126 0 4140 2567,~~269,659~~347.5277 1816,~~255,324~~881.3382 3,~~378~~891,~~312~~026.5859 0.00 65,~~903~~275,~~296~~256.4318 180+ Days 1017 1235 5279 612 80143 1,~~005~~510,~~530~~322.3853 ~~912~~3,~~020~~364,121.2198 69,~~318~~570,~~712~~412.1165 ~~553~~1,~~083~~141,558.5604 815,~~789~~586,~~346~~415.2620 Totals ~~376~~347 ~~167~~197 ~~125~~171 612 ~~674~~727 3734,~~485~~095,~~103~~195.4932 1214,~~404~~654,~~134~~486.9946 1621,~~718~~296,~~606~~253.0914 ~~553~~1,~~083~~141,558.5604 6771,~~160~~187,~~928~~492.1396 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 23.~~261366~~054990% 0.~~023804~~000000% 0.000000% 23.~~285170~~054990% 12.~~606607~~147094% 0.~~035526~~000000% 0.000000% 12.~~642133~~147094% 30 Days 4.~~832183~~887984% 0.~~595096~~330957% 0.~~047608~~127291% 0.000000% 5.~~474887~~346232% 4.~~457246~~894484% 0.~~416840~~174370% 0.~~035565~~095654% 0.000000% 45.~~909650~~164509% 60 Days 2.~~189955~~342159% 0.~~357058~~254582% 0.~~095215~~203666% 0.000000% 2.~~642228~~800407% 2.~~158309~~540380% 0.~~270458~~215693% 0.~~091429~~521392% 0.000000% 23.~~520196~~277465% 90 Days 0.~~809331~~738289% 0.~~119019~~076375% 0.~~428469~~814664% 0.000000% 1.~~356820~~629328% 0.~~775665~~606073% 0.~~063492~~044499% 0.~~528985~~850951% 0.000000% 1.~~368141~~501523% 120 Days 0.~~642704~~305499% 0.~~119019~~178208% 0.~~642704~~534623% 0.000000% 1.~~404428~~018330% 0.~~745109~~194784% 0.~~077274~~112389% 0.~~978475~~547317% 0.000000% 10.~~800858~~854490% 150 Days 0.~~238039~~127291% 0.~~238039~~229124% 0.~~499881~~661914% 0.000000% 01.~~975958~~018330% 0.~~539805~~145936% 0.~~298561~~210123% 01.~~803482~~000871% 0.000000% 1.~~641848~~356930% 180+ Days 0.~~238039~~432790% 0.~~285646~~891039% 12.~~237801~~011202% 0.~~142823~~305499% 13.~~904308~~640530% 0.~~239151~~388493% 0.~~216911~~865338% 12.~~502813~~461753% 0.~~131543~~293638% 24.~~090417~~009222% Totals 8.~~950250~~834012% 35.~~975244~~015275% 24.~~975482~~353360% 0.~~142823~~305499% 1618.~~043799~~508147% 8.~~915284~~770151% 23.~~950142~~769507% 35.~~976276~~477938% 0.~~131543~~293638% 1518.~~973245~~311233%

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 48 10 0 58 ~~223~~635,~~205~~790.4304 ~~149,371~~0.8400 0.00 ~~372~~635,~~577~~790.2704 30 Days 1421 1 2 0 024 16 2,~~007~~818,~~769~~893.2211 ~~293~~156,~~835~~009.1075 0199,219.0074 0.00 23,~~301~~174,~~604~~122.3260 60 Days 106 0 10 0 116 ~~939~~656,~~326~~344.5167 0.00 ~~5,533~~0.9200 0.00 ~~944~~656,~~860~~344.4367 90 Days 3 0 210 0 513 ~~241~~260,~~616~~151.8370 0.00 ~~195~~825,~~768~~460.7509 0.00 ~~437~~1,~~385~~085,611.5879 120 Days 21 0 3 0 54 ~~284~~71,~~772~~253.4264 0.00 ~~246~~270,~~537~~526.9328 0.00 ~~531~~341,~~310~~779.3592 150 Days 0 10 34 0 4 0.00 ~~62,842~~0.8100 ~~437~~280,~~827~~519.8372 0.00 ~~500~~280,~~670~~519.6472 180 Days 10 16 9 23 1318 ~~92,793~~0.4200 ~~131~~514,~~359~~414.4905 ~~949~~898,~~132~~264.6052 ~~193~~477,~~336~~756.6647 1,~~366~~890,~~622~~435.1704 Totals 3031 815 1928 23 5977 3,~~566~~806,~~278~~643.4012 ~~711~~1,~~242~~306,213.8384 12,~~984~~473,~~172~~990.8735 ~~193~~477,~~336~~756.6647 68,~~455~~064,~~030~~603.7678 0-29 Days 12.~~015228~~179837% 0.~~253807~~000000% 0.000000% 12.~~269036~~179837% 01.~~393714~~243616% 0.~~263478~~000000% 0.000000% 01.~~657193~~243616% 30 Days 35.~~553299~~722071% 0.~~507614~~272480% 0.~~000000~~544959% 0.000000% 46.~~060914~~539510% 35.~~541524~~513800% 0.~~518299~~305158% 0.~~000000~~389677% 0.000000% 46.~~059822~~208635% 60 Days 21.~~538071~~634877% 0.000000% 0.~~253807~~000000% 0.000000% 21.~~791878~~634877% 1.~~656887~~283821% 0.000000% 0.~~009761~~000000% 0.000000% 1.~~666649~~283821% 90 Days 0.~~761421~~817439% 0.000000% 02.~~507614~~724796% 0.000000% 13.~~269036~~542234% 0.~~426190~~508861% 0.000000% 01.~~345318~~614613% 0.000000% 02.~~771509~~123474% 120 Days 0.~~507614~~272480% 0.000000% 0.~~761421~~817439% 0.000000% 1.~~269036~~089918% 0.~~502313~~139373% 0.000000% 0.~~434871~~529154% 0.000000% 0.~~937184~~668527% 150 Days 0.000000% 0.~~253807~~000000% 01.~~761421~~089918% 0.000000% 1.~~015228~~089918% 0.000000% 0.~~110849~~000000% 0.~~772289~~548701% 0.000000% 0.~~883138~~548701% 180 Days 0.~~253807~~000000% 01.~~253807~~634877% 2.~~284264~~452316% 0.~~507614~~817439% 34.~~299492~~904632% 0.~~163679~~000000% 01.~~231706~~006202% 1.~~674184~~757020% 0.~~341028~~934499% 23.~~410598~~697721% Totals 78.~~614213~~446866% 24.~~030457~~087193% 47.~~822335~~629428% 0.~~507614~~817439% 1420.~~974619~~980926% 67.~~290593~~445855% 12.~~254568~~554975% 34.~~499902~~839165% 0.~~341028~~934499% 1115.~~386092~~774495% 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 2330 0 0 2330 23,~~925~~174,~~361~~476.8338 0.00 0.00 23,~~925~~174,~~361~~476.8338 30 Days 6867 43 1 0 7371 87,~~411~~758,~~528~~915.3094 ~~410~~177,~~197~~910.5577 ~~116~~65,~~697~~925.5943 0.00 8,~~938~~002,~~423~~752.4414 60 Days 27 5 1 4 0 3332 24,~~567~~498,~~327~~083.9838 ~~594~~337,~~978~~990.6544 ~~328~~1,~~589~~347,910.2122 0.00 36,~~490~~183,~~895~~984.8404 90 Days 10 01 1315 0 2326 1,~~326~~189,~~987~~325.5816 0116,807.0077 12,~~471~~004,~~261~~642.4407 0.00 23,~~798~~310,~~249~~775.0200 120 Days 82 2 124 0 228 1156,~~568,691~~621.1657 69198,~~144~~005.7324 3388,~~141,386~~874.9501 0.00 4743,~~779,222~~500.8482 150 Days 2 5 6 7 0 1814 1363,~~968,632~~980.4313 1527,~~027,258~~404.5530 12,~~580~~609,~~173~~180.5633 0.00 43,~~576~~500,~~064~~564.5476 180 Days 2 5 1816 135 263 ~~561~~59 979,~~007~~994.3165 ~~540~~2,~~863~~148,012.4206 35,~~260~~620,~~696~~876.9470 61234,~~072~~802.7393 48,~~423~~983,~~640~~686.4034 Totals ~~120~~113 4558 5266 13 ~~218~~240 1614,~~404~~946,~~174~~920.7683 56,~~567~~680,~~804~~606.7396 912,~~898~~037,~~805~~408.6976 61234,~~072~~802.7393 3133,~~931~~899,~~857~~739.9148 0-29 Days 23.~~390852~~344482% 0.000000% 0.000000% 23.~~390852~~344482% 2.~~319329~~710220% 0.000000% 0.000000% 2.~~319329~~710220% 30 Days 7.~~068607~~469342% 0.~~415800~~334448% 0.~~103950~~111483% 0.000000% 7.~~588358~~915273% 6.~~668952~~624200% 0.~~325219~~151892% 0.~~092522~~056284% 0.000000% 76.~~086693~~832376% 60 Days 23.~~806653~~010033% 0.~~519751~~111483% 0.~~103950~~445931% 0.000000% 3.~~430353~~567447% 23.~~035467~~840254% 0.~~471720~~288560% 01.~~260517~~150783% 0.000000% 25.~~767704~~279597% 90 Days 1.~~039501~~114827% 0.~~000000~~111483% 1.~~351351~~672241% 0.000000% 2.~~390852~~898551% 1.~~052082~~015390% 0.~~000000~~099725% 1.~~166467~~711470% 0.000000% 2.~~218549~~826585% 120 Days 0.~~831601~~222965% 0.~~207900~~222965% 10.~~247401~~445931% 0.000000% 20.~~286902~~891862% 10.~~243713~~133716% 0.~~054820~~169048% 20.~~490601~~332002% 0.000000% 30.~~789134~~634766% 150 Days 0.~~519751~~222965% 0.~~623701~~557414% 0.~~727651~~780379% 0.000000% 1.~~871102~~560758% 10.~~560800~~310749% 0.~~814446~~450273% 12.~~252817~~227596% 0.000000% 32.~~628063~~988619% 180 Days 0.~~207900~~557414% 01.~~519751~~783724% 13.~~871102~~901895% 0.~~103950~~334448% 26.~~702703~~577480% 0.~~444786~~836674% 01.~~428815~~833872% 24.~~585194~~798842% 0.~~048421~~200464% 37.~~507216~~669852% Totals 12.~~474012~~597547% 46.~~677755~~465998% 57.~~405405~~357860% 0.~~103950~~334448% 2226.~~661123~~755853% 1312.~~005800~~760983% 45.~~414349~~703590% 710.~~848117~~276977% 0.~~048421~~200464% 2528.~~316686~~942015% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 5160 0 0 5160 23,~~661~~262,~~663~~359.9880 0.00 0.00 23,~~661~~262,~~663~~359.9880 30 Days ~~100~~92 126 12 0 ~~113~~100 7,~~210~~800,~~730~~850.8778 ~~520~~205,~~507~~356.3697 32106,~~839~~723.4103 0.00 78,~~764~~112,~~077~~930.6478 60 Days 5053 97 24 0 6164 54,~~335~~397,~~906~~877.1558 ~~516~~369,~~793~~815.1980 50679,~~299~~072.5676 0.00 5,~~902~~446,~~998~~766.9014 90 Days 2116 41 36 0 2823 1906,~~692,746~~717.2840 ~~194~~7,~~887~~513.4725 ~~557~~411,~~132~~015.7920 0.00 21,~~444~~325,~~766~~245.5485 120 Days 138 35 1013 0 26 1460,~~043,142~~888.1546 ~~255~~238,~~759~~923.4521 ~~630~~1,~~088~~397,066.7464 0.00 12,~~928~~096,~~990~~878.3431 150 Days 52 34 913 0 1719 ~~301~~172,~~027~~794.0930 ~~165~~289,~~222~~477.9752 1922,~~245,250~~036.4871 0.00 1,~~711~~384,~~500~~308.5453 180 Days 610 512 2028 36 3456 ~~302~~400,~~035~~187.9564 ~~183~~645,~~684~~582.3087 12,~~916~~747,~~451~~091.9774 ~~298~~428,~~674~~998.1764 24,~~700~~221,~~846~~860.3989 Totals ~~195~~181 8795 4566 36 ~~330~~348 1514,~~885~~139,~~588~~316.4916 45,~~498~~019,~~518~~029.7242 46,~~432~~263,~~062~~006.9508 ~~298~~428,~~674~~998.1764 25,~~114~~850,~~844~~350.3330 0-29 Days 2.~~007874~~532714% 0.000000% 0.000000% 2.~~007874~~532714% 1.~~195055~~582864% 0.000000% 0.000000% 1.~~195055~~582864% 30 Days 3.~~937008~~883495% 0.~~472441~~253271% 0.~~039370~~084424% 0.000000% 4.~~448819~~221190% 3.~~237531~~784895% 0.~~233701~~099637% 0.~~014744~~051781% 0.000000% 3.~~485977~~936313% 60 Days 12.~~968504~~237231% 0.~~354331~~295483% 0.~~078740~~168848% 0.000000% 2.~~401575~~701562% 2.~~395757~~133806% 0.~~232034~~179431% 0.~~022584~~329479% 0.000000% 2.~~650375~~642716% 90 Days 0.~~826772~~675390% 0.~~157480~~042212% 0.~~118110~~253271% 0.000000% 10.~~102362~~970874% 0.~~760023~~439930% 0.~~087502~~003645% 0.~~250146~~199420% 0.000000% 10.~~097671~~642996% 120 Days 0.~~511811~~337695% 0.~~118110~~211060% 0.~~393701~~548755% 0.000000% 1.~~023622~~097509% 0.~~468358~~223618% 0.~~114833~~115923% 0.~~282902~~677843% 0.000000% 01.~~866093~~017384% 150 Days 0.~~196850~~084424% 0.~~118110~~168848% 0.~~354331~~548755% 0.000000% 0.~~669291~~802026% 0.~~135158~~083838% 0.~~074183~~140452% 0.~~559102~~447363% 0.000000% 0.~~768443~~671653% 180 Days 0.~~236220~~422119% 0.~~196850~~506543% 01.~~787402~~181933% 0.~~118110~~253271% 12.~~338583~~363867% 0.~~135610~~194167% 0.~~082472~~313230% 01.~~860464~~332861% 0.~~134101~~208146% 12.~~212647~~048405% Totals 7.~~677165~~640355% 34.~~425197~~010131% 12.~~771654~~785986% 0.~~118110~~253271% 1214.~~992126~~689743% 76.~~132437~~860255% 2.~~019780~~435183% 13.~~989943~~038748% 0.~~134101~~208146% 1112.~~276261~~542331% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 1722 0 0 1722 ~~944~~1,~~891~~274,505.2520 0.00 0.00 ~~944~~1,~~891~~274,505.2520 30 Days 2112 73 0 0 2815 1649,~~110,857~~336.1032 ~~528~~138,~~099~~611.7935 0.00 0.00 1787,~~638,956~~947.8967 60 Days 56 12 0 0 68 ~~232~~323,~~240~~779.1877 25130,~~394~~730.3369 0.00 0.00 ~~257~~454,~~634~~510.5146 90 Days 0 1 01 0 12 0.00 7248,~~070~~676.3400 067,073.0023 0.00 72115,~~070~~749.3423 120 Days 41 0 21 0 62 ~~236~~68,~~270~~485.8654 0.00 9671,~~073~~305.2720 0.00 ~~332~~139,~~344~~790.1374 150 Days 01 0 2 0 23 030,573.0034 0.00 ~~115~~79,~~060~~289.7183 0.00 ~~115~~109,~~060~~863.7117 180 Days 12 1 57 0 710 49130,~~693~~140.7024 56,113.00 ~~192~~304,~~430~~179.6069 0.00 ~~298~~490,~~237~~432.3093 Totals 3122 2729 911 0 6762 1,~~629~~202,~~061~~315.8421 1,~~626~~648,~~568~~636.7124 ~~403~~521,~~564~~847.5895 0.00 3,~~659~~372,~~195~~799.1340 0-29 Days 57.~~573770~~457627% 0.000000% 0.000000% 57.~~573770~~457627% 68.~~335682~~847628% 0.000000% 0.000000% 68.~~335682~~847628% 30 Days 64.~~885246~~067797% 21.~~295082~~016949% 0.000000% 0.000000% 95.~~180328~~084746% 74.~~448515~~507700% 30.~~541013~~962241% 0.000000% 0.000000% 105.~~989529~~469941% 60 Days 12.~~639344~~033898% 0.~~327869~~677966% 0.000000% 0.000000% 12.~~967213~~711864% 12.~~557216~~247683% 0.~~170274~~907534% 0.000000% 0.000000% 13.~~727490~~155216% 90 Days 0.000000% 0.~~327869~~338983% 0.~~000000~~338983% 0.000000% 0.~~327869~~677966% 0.000000% 0.~~483246~~337909% 0.~~000000~~465623% 0.000000% 0.~~483246~~803532% 120 Days 10.~~311475~~338983% 0.000000% 0.~~655738~~338983% 0.000000% 10.~~967213~~677966% 10.~~584243~~475427% 0.000000% 0.~~644190~~495001% 0.000000% 20.~~228433~~970429% 150 Days 0.~~000000~~338983% 0.000000% 0.~~655738~~677966% 0.000000% 01.~~655738~~016949% 0.~~000000~~212240% 0.000000% 0.~~771505~~550431% 0.000000% 0.~~771505~~762671% 180 Days 0.~~327869~~677966% 0.~~327869~~338983% 12.~~639344~~372881% 0.000000% 23.~~295082~~389831% 0.~~333206~~903435% 0.~~376249~~389537% 12.~~290285~~111619% 0.000000% 13.~~999740~~404591% Totals 107.~~163934~~457627% 89.~~852459~~830508% 23.~~950820~~728814% 0.000000% 21.~~967213~~016949% 108.~~923180~~346485% 1011.~~906463~~444850% 23.~~705980~~622674% 0.000000% 2423.~~535624~~414009%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~470~~490,~~257~~129.4251

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~779694~~755679% Weighted Average Net Coupon 7.~~328388~~304279% Weighted Average Pass-Through Rate 7.~~318388~~294279% Weighted Average Maturity(Stepdown Calculation ) ~~298~~295 Beginning Scheduled Collateral Loan Count 4,~~300~~026 Number Of Loans Paid In Full 9998 Ending Scheduled Collateral Loan Count 43,~~201~~928 Beginning Scheduled Collateral Balance ~~434~~398,~~660~~578,~~224~~942.9118 Ending Scheduled Collateral Balance ~~419~~387,~~566~~846,~~855~~877.4328 Ending Actual Collateral Balance at 3029-~~Nov~~Feb-~~2003~~2004 ~~420~~388,~~458~~764,~~896~~054.6380 Monthly P &I Constant 3,~~464~~191,~~037~~130.1363 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 058,145.0003 Cumulative Realized Loss ~~122~~241,~~355~~775.2579 Ending Scheduled Balance for Premium Loans ~~419~~387,~~566~~846,~~855~~877.4328 Scheduled Principal ~~646~~615,~~100~~088.7968 Unscheduled Principal 1410,~~447~~116,~~268~~976.6922 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 158,~~509,679~~145.5803 Overcollateralized reduction Amount 0.00 Specified O/C Amount 9,306,154.25 Overcollateralized Amount 9,306,154.25 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 158,~~509,679~~145.5803 Excess Cash Amount 1,~~750~~626,~~942~~118.3993

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 6.~~937330~~920199 7.~~110569~~087421 8.~~292874~~240189 Weighted Average Net Rate 6.~~545320~~529858 6.~~654553~~631906 7.~~832361~~779360 Weighted Average Maturity ~~313~~310 ~~317~~314 ~~285~~282 Beginning Loan Count ~~407~~376 ~~993~~916 2,~~591~~435 Loans Paid In Full 139 3119 5166 Ending Loan Count ~~394~~367 ~~962~~897 2,~~540~~369 Beginning Scheduled Balance 5852,~~418~~378,~~050~~208.4654 ~~132~~119,~~997~~438,~~594~~432.8530 ~~228~~212,~~101~~244,~~132~~237.8291 Ending scheduled Balance 5651,~~587~~017,~~724~~626.1549 ~~125~~116,~~827~~811,~~509~~981.0016 ~~222~~205,~~277~~652,~~033~~179.5377 Record Date 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 Principal And Interest Constant ~~420~~378,~~623~~820.9981 ~~962~~865,~~975~~790.7541 1,~~939~~810,~~927~~811.9867 Scheduled Principal 8276,~~902~~764.9144 ~~174~~160,~~901~~365.9506 ~~363~~353,~~583~~367.0089 Unscheduled Principal 1,~~747~~283,~~423~~817.4061 62,~~995~~466,~~183~~086.9008 56,~~460~~238,~~516~~690.2925 Scheduled Interest ~~337~~302,~~721~~056.0837 ~~788~~705,~~073~~425.8035 1,~~576~~457,~~344~~443.9878 Servicing Fees 1917,~~083~~037.7382 5045,~~540~~338.8826 8781,~~536~~506.2190 Master Servicing Fees ~~486~~436.8252 ~~1,108~~995.2933 1,~~900~~768.8765 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 ~~318~~284,~~150~~582.5303 ~~736~~659,~~424~~091.6376 1,~~486~~374,~~907~~168.9023 Realized Loss Amount 0.00 0.00 058,145.0003 Cumulative Realized Loss 057,472.0073 0.00 ~~122~~184,~~355~~303.2506 Percentage of Cumulative Losses 0.~~0000~~0818 0.0000 0.~~0454~~0685 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~535320~~519858 6.~~644553~~621907 7.~~822361~~769360

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Fixed & Mixed ARM Weighted Average Coupon Rate 9.~~175968~~184403 7.~~779694~~755679 Weighted Average Net Rate 8.~~675967~~684403 7.~~328388~~304279 Weighted Average Maturity ~~260~~257 ~~298~~295 Beginning Loan Count ~~309~~299 4,~~300~~026 Loans Paid In Full 4 9998 Ending Loan Count ~~305~~295 43,~~201~~928 Beginning Scheduled Balance 1514,~~143~~518,~~446~~063.7843 ~~434~~398,~~660~~578,~~224~~942.9118 Ending scheduled Balance 14,~~874~~365,~~588~~089.7586 ~~419~~387,~~566~~846,~~855~~877.4328 Record Date 1102/3029/~~2003~~2004 1102/3029/~~2003~~2004 Principal And Interest Constant ~~140~~135,~~509~~707.4174 3,~~464~~191,~~037~~130.1363 Scheduled Principal 24,~~712~~591.9329 ~~646~~615,~~100~~088.7968 Unscheduled Principal ~~244~~128,~~145~~382.1028 1410,~~447~~116,~~268~~976.6922 Scheduled Interest ~~115~~111,~~796~~116.4845 2,~~817~~576,~~936~~041.3495 Servicing Fees 6,~~309~~049.7719 ~~163~~149,~~470~~932.5917 Master Servicing Fees ~~126~~120.1998 3,~~622~~321.1748 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 ~~109~~104,~~360~~946.5228 2,~~650~~422,~~843~~788.5830 Realized Loss Amount 0.00 058,145.0003 Cumulative Realized Loss 0.00 ~~122~~241,~~355~~775.2579 Percentage of Cumulative Losses 0.0000 0.~~0237~~0468 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 8.~~665968~~674403 7.~~318388~~294279

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2003-2