8-K 1 bsa03ac7.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-AC7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-17 54-2139189 Pooling and Servicing Agreement) (Commission 54-2139190 (State or other File Number) 54-2139191 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-AC7 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-AC7 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-AC7 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-AC7 Trust, relating to the March 25, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 122/3129/032004 Distribution Date: 13/2625/042004 BSA Series: 2003-AC7 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-1 07384YPH3 SEN 5.00000% ~~240~~233,~~600~~498,~~000~~577.0007 1972,~~002,500~~910.0074 35,~~284~~778,~~628~~312.7996 A-2 07384YPJ9 SEN 5.25000% ~~262~~255,~~800~~043,~~000~~333.0055 1,~~149~~115,~~750~~814.0058 36,~~587~~311,~~699~~474.2800 A-3 07384YPK6 SEN 1.~~80000~~77000% 9390,~~000~~255,~~000~~060.0096 ~~139~~133,~~500~~126.0021 12,~~269~~233,~~619~~512.6149 A-4 07384YPL4 SEN 5.~~70000~~73000% 0.00 ~~441~~430,~~750~~967.0092 0.00 M-1 07384YPN0 MEZ 5.20000% 4241,~~600~~342,~~000~~640.0083 ~~184~~179,~~600~~151.0044 ~~581~~1,~~567~~023,092.6982 M-2 07384YPP5 MEZ 2.~~72000~~69000% 4241,~~600~~342,~~000~~640.00 83 89,~~685~~587.3321 ~~581~~1,~~567~~023,092.6982 B 07384YPQ3 SUB 3.~~62000~~59000% 2827,~~588~~744,~~212~~417.0039 7480,~~742~~235.2931 ~~390~~686,~~281~~582.2303 C 07383GCX2 OC 0.00000% 0674,439.2433 ~~726,895~~0.6000 0.00 P 07383GCW4 P 0.00000% 100.00 09,748.0041 0.00 R-1 07383GCY0 RES 0.00000% 0.00 0.00 0.00 R-2 07383GCZ7 RES 0.00000% 0.00 0.00 0.00 R-3 07383GDA1 RES 0.00000% 0.00 0.00 0.00 Totals ~~710~~689,~~188~~901,~~312~~209.2496 3,~~803~~011,~~423~~541.2282 917,~~695~~056,~~364~~067.2912

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~237~~227,~~315~~720,~~371~~264.2111 46,~~287~~751,~~128~~223.7970 0.00 A-2 0.00 ~~259~~248,~~212~~731,~~300~~859.7255 47,~~737~~427,~~449~~288.2858 0.00 A-3 0.00 9188,~~730~~021,~~380~~548.3947 12,~~409~~366,~~119~~638.6170 0.00 A-4 0.00 0.00 ~~441~~430,~~750~~967.0092 0.00 M-1 0.00 4240,~~018~~319,~~432~~548.3101 ~~766~~1,~~167~~202,244.6926 0.00 M-2 0.00 4240,~~018~~319,~~432~~548.3101 ~~665~~1,~~253~~112,680.0203 0.00 B 0.00 2827,~~197~~057,~~930~~835.7736 ~~465~~766,~~023~~817.5234 0.00 C 0.00 01,358,022.2441 ~~726,895~~0.6000 0.00 P 0.00 100.00 09,748.0041 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 Totals 0.00 ~~700~~673,~~492~~528,~~947~~725.9592 1320,~~498~~067,~~787~~608.5194 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-1 240,600,000.00 ~~240~~233,~~600~~498,~~000~~577.0007 0.00 35,~~284~~778,~~628~~312.7996 0.00 0.00 A-2 262,800,000.00 ~~262~~255,~~800~~043,~~000~~333.0055 0.00 36,~~587~~311,~~699~~474.2800 0.00 0.00 A-3 93,000,000.00 9390,~~000~~255,~~000~~060.0096 0.00 12,~~269~~233,~~619~~512.6149 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 M-1 42,600,000.00 4241,~~600~~342,~~000~~640.0083 0.00 ~~581~~1,~~567~~023,092.6982 0.00 0.00 M-2 42,600,000.00 4241,~~600~~342,~~000~~640.0083 0.00 ~~581~~1,~~567~~023,092.6982 0.00 0.00 B 28,588,212.00 2827,~~588~~744,~~212~~417.0039 0.00 ~~390~~686,~~281~~582.2303 0.00 0.00 C 0.24 0674,439.2433 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 710,188,312.24 ~~710~~689,~~188~~901,~~312~~209.2496 0.00 917,~~695~~056,~~364~~067.2912 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 35,~~284~~778,~~628~~312.7996 ~~237~~227,~~315~~720,~~371~~264.2111 0.~~98634818~~94646826 35,~~284~~778,~~628~~312.7996 A-2 36,~~587~~311,~~699~~474.2800 ~~259~~248,~~212~~731,~~300~~859.7255 0.~~98634818~~94646826 36,~~587~~311,~~699~~474.2800 A-3 12,~~269~~233,~~619~~512.6149 9188,~~730~~021,~~380~~548.3947 0.~~98634818~~94646826 12,~~269~~233,~~619~~512.6149 A-4 0.00 0.00 0.00000000 0.00 M-1 ~~581~~1,~~567~~023,092.6982 4240,~~018~~319,~~432~~548.3101 0.~~98634818~~94646826 ~~581~~1,~~567~~023,092.6982 M-2 ~~581~~1,~~567~~023,092.6982 4240,~~018~~319,~~432~~548.3101 0.~~98634818~~94646826 ~~581~~1,~~567~~023,092.6982 B ~~390~~686,~~281~~582.2303 2827,~~197~~057,~~930~~835.7736 0.~~98634818~~94646826 ~~390~~686,~~281~~582.2303 C 0.00 01,358,022.2441 1658,426.~~00000000~~70833333 0.00 P 0.00 100.00 1.00000000 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 Totals 917,~~695~~056,~~364~~067.2912 ~~700~~673,~~492~~528,~~947~~725.9592 0.~~98634818~~94838047 917,~~695~~056,~~364~~067.2912

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 240,600,000.00 ~~1000~~970.~~00000000~~48452648 0.00000000 1324.~~65182373~~01626334 0.00000000 A-2 262,800,000.00 ~~1000~~970.~~00000000~~48452645 0.00000000 1324.~~65182374~~01626332 0.00000000 A-3 93,000,000.00 ~~1000~~970.~~00000000~~48452645 0.00000000 1324.~~65182376~~01626333 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 42,600,000.00 ~~1000~~970.~~00000000~~48452653 0.00000000 1324.~~65182371~~01626338 0.00000000 M-2 42,600,000.00 ~~1000~~970.~~00000000~~48452653 0.00000000 1324.~~65182371~~01626338 0.00000000 B 28,588,212.00 ~~1000~~970.~~00000000~~48452663 0.00000000 1324.~~65182370~~01626342 0.00000000 C 0.24 ~~1000~~810163875.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) 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 1324.~~65182373~~01626334 ~~986~~946.~~34817627~~46826313 0.~~98634818~~94646826 1324.~~65182373~~01626334 A-2 0.00000000 1324.~~65182374~~01626332 ~~986~~946.~~34817626~~46826313 0.~~98634818~~94646826 1324.~~65182374~~01626332 A-3 0.00000000 1324.~~65182376~~01626333 ~~986~~946.~~34817624~~46826312 0.~~98634818~~94646826 1324.~~65182376~~01626333 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 1324.~~65182371~~01626338 ~~986~~946.~~34817629~~46826315 0.~~98634818~~94646826 1324.~~65182371~~01626338 M-2 0.00000000 1324.~~65182371~~01626338 ~~986~~946.~~34817629~~46826315 0.~~98634818~~94646826 1324.~~65182371~~01626338 B 0.00000000 1324.~~65182370~~01626342 ~~986~~946.~~34817630~~46826321 0.~~98634818~~94646826 1324.~~65182370~~01626342 C 0.00000000 0.00000000 15,~~000~~658,426,708.~~00000000~~33333000 15658426.~~00000000~~70833333 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 (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-1 240,600,000.00 5.00000% ~~240~~233,~~600~~498,~~000~~577.0007 1972,~~002,500~~910.0074 0.00 0.00 A-2 262,800,000.00 5.25000% ~~262~~255,~~800~~043,~~000~~333.0055 1,~~149~~115,~~750~~814.0058 0.00 0.00 A-3 93,000,000.00 1.~~80000~~77000% 9390,~~000~~255,~~000~~060.0096 ~~139~~133,~~500~~126.0021 0.00 0.00 A-4 0.00 5.~~70000~~73000% 9390,~~000~~255,~~000~~060.0096 ~~441~~430,~~750~~967.0092 0.00 0.00 M-1 42,600,000.00 5.20000% 4241,~~600~~342,~~000~~640.0083 ~~184~~179,~~600~~151.0044 0.00 0.00 M-2 42,600,000.00 2.~~72000~~69000% 4241,~~600~~342,~~000~~640.00 83 89,~~685~~587.3321 0.00 0.00 B 28,588,212.00 3.~~62000~~59000% 2827,~~588~~744,~~212~~417.0039 7480,~~742~~235.2931 0.00 0.00 C 0.24 0.00000% 0674,439.2433 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 710,188,312.24 3,~~076~~001,~~527~~793.6241 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 1972,~~002,500~~910.0074 0.00 ~~237~~227,~~315~~720,~~371~~264.2111 A-2 0.00 0.00 1,~~149~~115,~~750~~814.0058 0.00 ~~259~~248,~~212~~731,~~300~~859.7255 A-3 0.00 0.00 ~~139~~133,~~500~~126.0021 0.00 9188,~~730~~021,~~380~~548.3947 A-4 0.00 0.00 ~~441~~430,~~750~~967.0092 0.00 9188,~~730~~021,~~380~~548.3947 M-1 0.00 0.00 ~~184~~179,~~600~~151.0044 0.00 4240,~~018~~319,~~432~~548.3101 M-2 0.00 0.00 8389,~~685~~587.3321 0.00 4240,~~018~~319,~~432~~548.3101 B 0.00 0.00 7480,~~742~~235.2931 0.00 2827,~~197~~057,~~930~~835.7736 C 0.00 0.00 ~~726,895~~0.6000 0.00 01,358,022.2441 P 0.00 0.00 09,748.0041 0.00 100.00 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 Totals 0.00 0.00 3,~~803~~011,~~423~~541.2282 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-1 240,600,000.00 5.00000% ~~1000~~970.~~00000000~~48452648 4.~~16666667~~04368554 0.00000000 0.00000000 A-2 262,800,000.00 5.25000% ~~1000~~970.~~00000000~~48452645 4.~~37500000~~24586979 0.00000000 0.00000000 A-3 93,000,000.00 1.~~80000~~77000% ~~1000~~970.~~00000000~~48452645 1.~~50000000~~43146462 0.00000000 0.00000000 A-4 0.00 5.~~70000~~73000% ~~1000~~970.~~00000000~~48452645 4.~~75000000~~63406366 0.00000000 0.00000000 M-1 42,600,000.00 5.20000% ~~1000~~970.~~00000000~~48452653 4.~~33333333~~20543286 0.00000000 0.00000000 M-2 42,600,000.00 2.~~72000~~69000% ~~1000~~970.~~00000000~~48452653 12.~~96444437~~10298615 0.00000000 0.00000000 B 28,588,212.00 3.~~62000~~59000% ~~1000~~970.~~00000000~~48452663 2.~~61444437~~80658720 0.00000000 0.00000000 C 0.24 0.00000% ~~1000~~810163875.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) 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 4.~~16666667~~04368554 0.00000000 ~~986~~946.~~34817627~~46826313 A-2 0.00000000 0.00000000 4.~~37500000~~24586979 0.00000000 ~~986~~946.~~34817626~~46826313 A-3 0.00000000 0.00000000 1.~~50000000~~43146462 0.00000000 ~~986~~946.~~34817624~~46826312 A-4 0.00000000 0.00000000 4.~~75000000~~63406366 0.00000000 ~~986~~946.~~34817624~~46826312 M-1 0.00000000 0.00000000 4.~~33333333~~20543286 0.00000000 ~~986~~946.~~34817629~~46826315 M-2 0.00000000 0.00000000 12.~~96444437~~10298615 0.00000000 ~~986~~946.~~34817629~~46826315 B 0.00000000 0.00000000 2.~~61444437~~80658720 0.00000000 ~~986~~946.~~34817630~~46826321 C 0.00000000 0.00000000 ~~28731666~~0.~~66667000~~00000000 0.00000000 ~~1000~~658426708.~~00000000~~33333000 P 0.00000000 0.00000000 097484.~~00000000~~10000000 0.00000000 1000.00000000 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 (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 1320,~~548~~193,~~194~~070.9050 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 98175,~~548~~699.4916 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1320,~~646~~368,~~743~~769.3966 Withdrawals Reimbursement for Servicer Advances 0151,252.0007 Payment of Service Fee ~~147~~149,~~955~~908.8865 Payment of Interest and Principal 1320,~~498~~067,~~787~~608.5194 Total Withdrawals (Pool Distribution Amount) 1320,~~646~~368,~~743~~769.3966 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~147~~143,~~955~~729.8840 Back-up Servicing Fee 6,179.25 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~147~~149,~~955~~908.8865

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 2 0 0 2 ~~539~~537,~~263~~285.1661 0.00 0.00 ~~539~~537,~~263~~285.1661 30 Days 6388 0 0 0 6388 1120,~~857~~662,~~961~~699.5265 0.00 0.00 0.00 1120,~~857~~662,~~961~~699.5265 60 Days 1123 0 0 0 1123 25,~~902~~075,~~560~~159.4166 0.00 0.00 0.00 25,~~902~~075,~~560~~159.4166 90 Days 02 0 0 0 02 0702,760.0048 0.00 0.00 0.00 0702,760.0048 120 Days 01 0 0 0 01 0165,785.0060 0.00 0.00 0.00 0165,785.0060 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 10 0 0 0 10 ~~166,361~~0.2000 0.00 0.00 0.00 ~~166,361~~0.2000 Totals 75114 2 0 0 77116 1426,~~926~~606,~~883~~405.1339 ~~539~~537,~~263~~285.1661 0.00 0.00 1527,~~466~~143,~~146~~691.2900 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.~~060883~~062716% 0.000000% 0.000000% 0.~~060883~~062716% 0.~~076917~~079696% 0.000000% 0.000000% 0.~~076917~~079696% 30 Days 12.~~917808~~759486% 0.000000% 0.000000% 0.000000% 12.~~917808~~759486% 13.~~691341~~064904% 0.000000% 0.000000% 0.000000% 13.~~691341~~064904% 60 Days 0.~~334855~~721229% 0.000000% 0.000000% 0.000000% 0.~~334855~~721229% 0.~~414002~~752800% 0.000000% 0.000000% 0.000000% 0.~~414002~~752800% 90 Days 0.~~000000~~062716% 0.000000% 0.000000% 0.000000% 0.~~000000~~062716% 0.~~000000~~104241% 0.000000% 0.000000% 0.000000% 0.~~000000~~104241% 120 Days 0.~~000000~~031358% 0.000000% 0.000000% 0.000000% 0.~~000000~~031358% 0.~~000000~~024591% 0.000000% 0.000000% 0.000000% 0.~~000000~~024591% 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.~~030441~~000000% 0.000000% 0.000000% 0.000000% 0.~~030441~~000000% 0.~~023729~~000000% 0.000000% 0.000000% 0.000000% 0.~~023729~~000000% Totals 23.~~283105~~574788% 0.~~060883~~062716% 0.000000% 0.000000% 23.~~343988~~637504% 23.~~129072~~946535% 0.~~076917~~079696% 0.000000% 0.000000% 24.~~205989~~026231%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 98175,~~548~~699.4916

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~687374~~671017% Weighted Average Net Coupon 6.~~437374~~421017% Weighted Average Pass-Through Rate 6.~~437374~~421017% Weighted Average Maturity (Stepdown Calculation ) ~~339~~337 Beginning Scheduled Collateral Loan Count 3,~~320~~240 Number Of Loans Paid In Full 3551 Ending Scheduled Collateral Loan Count 3,~~285~~189 Beginning Scheduled Collateral Balance ~~710~~689,~~188~~901,~~312~~109.2495 Ending Scheduled Collateral Balance ~~700~~673,~~492~~528,~~847~~625.9492 Ending Actual Collateral Balance at 3129-~~Dec~~Feb-~~2003~~2004 ~~701~~674,~~098~~171,~~122~~268.1332 Monthly P &I Constant 4,~~709~~579,~~618~~278.19 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 ~~700~~673,~~492~~528,~~847~~625.9492 Scheduled Principal ~~751~~743,~~873~~993.2304 Unscheduled Principal 815,~~943~~628,~~491~~490.0799 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0683,583.0008 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,971,317.00 Overcollateralized Amount 01,358,022.2441 Overcollateralized Deficiency Amount 43,~~971~~613,~~316~~294.7659 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0683,583.0008 Excess Cash Amount ~~733~~699,~~261~~510.4574

Miscellaneous Reporting ~~Back-up Servicing Fee 6,365.86~~ 3 Month Rolling Dlq Average Percentage 0.00005516%

Filing Compare · BEAR STEARNS ASSET BACKED CERTS SER 2003-AC7