8-K 1 bst01007.txt MAY 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): May 25, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 90-0042382 Pooling and Servicing Agreement) (Commission 90-0031687 (State or other File Number) IRS EIN jurisdiction 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 May 25, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-7 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 2001-7 Trust, relating to the May 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2001-7 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: 6/1/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the May 25, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 24/2930/~~2004~~04 Distribution Date: 35/25/~~2004~~04 BST Series: 2001-7 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 07384MGL0 SEN 4.~~45777~~40886% 4,~~799~~624,~~531~~159.6515 1716,~~829~~989.3441 ~~112~~124,~~675~~448.5660 II-A 07384MGP1 SEN 2.~~71489~~69418% 48,~~791~~553,~~919~~549.2677 ~~110~~109,~~387~~009.3898 ~~218~~2,~~425~~624,654.9278 III-A 07384MGU0 SEN 4.~~20327~~00645% 2827,~~330~~200,~~712~~666.7121 9990,~~234~~815.6801 ~~501~~1,~~094~~047,630.5731 IV-A 07384MGQ9 SEN 7.~~09995~~18216% 21,~~060~~818,~~099~~315.0356 1210,~~188~~882.8486 ~~239~~2,~~486~~311.1165 B-1 07384MGR7 SUB 43.~~08608~~95593% 3,~~699~~631,~~253~~350.2049 1211,~~596~~971.2014 4168,~~384~~690.4637 B-2 07384MGS5 SUB 43.~~08608~~95593% 2,~~176~~136,~~144~~199.7892 7,~~409~~042.9122 2440,~~345~~408.0721 B-3 07384MGT3 SUB 43.~~08608~~95593% 1,~~523~~495,~~256~~296.8324 54,~~186~~929.7941 1728,~~041~~284.0592 B-4 07384MGV8 SUB 43.~~08608~~95593% ~~761~~747,~~665~~684.5154 2,~~593~~464.5282 814,~~520~~143.9415 B-5 07384MGW6 SUB 43.~~08608~~95593% ~~652~~640,~~813~~830.7584 2,~~222~~112.8757 712,~~303~~121.1991 B-6 07384MGX4 SUB 43.~~08608~~95593% ~~979~~961,~~437~~459.6732 3,~~335~~169.0556 1018,~~957~~186.2190 R-I 07384MGM8 RES 6.~~36442~~36452% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36442~~36452% 0.00 0.00 0.00 Totals 9391,~~774~~809,~~834~~512.3904 ~~272~~259,~~984~~386.5898 13,~~181~~980,~~234~~880.0880

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 4,~~686~~499,~~856~~710.0955 ~~130~~141,~~504~~438.9001 0.00 II-A 0.00 4845,~~573~~928,~~493~~894.3499 ~~328~~2,~~813~~733,664.3076 0.00 III-A 0.00 2726,~~829~~153,~~618~~035.1590 ~~600~~1,~~329~~138,445.2532 0.00 IV-A 0.00 1,~~820~~816,~~612~~003.9192 ~~251~~13,~~674~~194.9551 0.00 B-1 0.00 3,~~657~~562,~~868~~660.7512 5380,~~980~~661.6651 0.00 B-2 0.00 2,~~151~~095,~~799~~791.71 3147,~~754~~450.9843 0.00 B-3 0.00 1,~~506~~467,~~215~~011.7832 2233,~~227~~214.8433 0.00 B-4 0.00 ~~753~~733,~~144~~541.5739 1116,~~114~~607.4697 0.00 B-5 0.00 ~~645~~628,~~510~~708.5793 914,~~526~~234.0648 0.00 B-6 0.00 ~~968~~943,~~480~~272.4642 1421,~~292~~356.2646 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 9287,~~593~~828,~~600~~631.3325 14,~~454~~240,~~218~~267.6678 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 16,941,900.00 4,~~799~~624,~~531~~159.6515 2321,~~015~~053.9132 89103,~~659~~395.6529 0.00 0.00 II-A 59,270,500.00 48,~~791~~553,~~919~~549.2677 0.00 ~~218~~2,~~425~~624,654.9278 0.00 0.00 III-A 162,837,100.00 2827,~~330~~200,~~712~~666.7121 5453,~~127~~451.9593 ~~446~~994,~~966~~178.6138 0.00 0.00 IV-A 41,028,800.00 21,~~060~~818,~~099~~315.0356 42,~~632~~194.2503 ~~234,853~~117.8762 0.00 0.00 B-1 4,985,500.00 3,~~699~~631,~~253~~350.2049 5,~~912~~490.79 3563,~~471~~199.6758 0.00 0.00 B-2 2,932,800.00 2,~~176~~136,~~144~~199.7892 3,~~478~~230.2905 2037,~~866~~178.7816 0.00 0.00 B-3 2,052,900.00 1,~~523~~495,~~256~~296.8324 2,~~434~~260.7397 1426,~~606~~023.3295 0.00 0.00 B-4 1,026,500.00 ~~761~~747,~~665~~684.5154 1,~~217~~130.4354 713,~~303~~012.5161 0.00 0.00 B-5 879,800.00 ~~652~~640,~~813~~830.7584 ~~1,043~~968.4497 611,~~259~~152.7594 0.00 0.00 B-6 1,319,993.00 ~~979~~961,~~437~~459.6732 1,~~565~~453.5178 916,~~391~~733.7012 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 293,275,893.00 9391,~~774~~809,~~834~~512.3904 9791,~~428~~234.3038 13,~~083~~889,~~805~~646.7843 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 ~~112~~124,~~675~~448.5660 4,~~686~~499,~~856~~710.0955 0.~~27664288~~26559657 ~~112~~124,~~675~~448.5660 II-A ~~218~~2,~~425~~624,654.9278 4845,~~573~~928,~~493~~894.3499 0.~~81952225~~77490311 ~~218~~2,~~425~~624,654.9278 III-A ~~501~~1,~~094~~047,630.5731 2726,~~829~~153,~~618~~035.1590 0.~~17090465~~16060858 ~~501~~1,~~094~~047,630.5731 IV-A ~~239~~2,~~486~~311.1165 1,~~820~~816,~~612~~003.9192 0.~~04437402~~04426169 ~~239~~2,~~486~~311.1165 B-1 4168,~~384~~690.4637 3,~~657~~562,~~868~~660.7512 0.~~73370148~~71460438 4168,~~384~~690.4637 B-2 2440,~~345~~408.0721 2,~~151~~095,~~799~~791.71 0.~~73370148~~71460437 2440,~~345~~408.0721 B-3 1728,~~041~~284.0592 1,~~506~~467,~~215~~011.7832 0.~~73370149~~71460437 1728,~~041~~284.0592 B-4 814,~~520~~143.9415 ~~753~~733,~~144~~541.5739 0.~~73370148~~71460437 814,~~520~~143.9415 B-5 712,~~303~~121.1991 ~~645~~628,~~510~~708.5793 0.~~73370149~~71460438 712,~~303~~121.1991 B-6 1018,~~957~~186.2190 ~~968~~943,~~480~~272.4642 0.~~73370121~~71460411 1018,~~957~~186.2190 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 13,~~181~~980,~~234~~880.0880 9287,~~593~~828,~~600~~631.3325 0.~~31572183~~29947443 13,~~181~~980,~~234~~880.0880

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~283~~272.~~29358868~~94218181 1.~~35852000~~24267762 56.~~29218388~~10293356 0.00000000 II-A 59,270,500.00 ~~823~~819.~~20748534~~18576307 0.00000000 344.~~68523836~~28264955 0.00000000 III-A 162,837,100.00 ~~173~~167.~~98192863~~04219253 0.~~33240551~~32825400 26.~~74486963~~10535547 0.00000000 IV-A 41,028,800.00 5044.~~21104761~~31802929 0.~~11290240~~05347536 50.~~72412232~~00286677 0.00000000 B-1 4,985,500.00 ~~742~~728.~~00244710~~38240698 1.~~18599739~~10135192 712.~~11496741~~67667837 0.00000000 B-2 2,932,800.00 ~~742~~728.~~00244817~~38240589 1.~~18599632~~10135366 712.~~11496863~~67667758 0.00000000 B-3 2,052,900.00 ~~742~~728.~~00245019~~38240538 1.~~18599542~~10135418 712.~~11496907~~67667690 0.00000000 B-4 1,026,500.00 ~~742~~728.~~00244520~~38240623 1.~~18600097~~10135412 712.~~11496347~~67667803 0.00000000 B-5 879,800.00 ~~742~~728.~~00244374~~38240509 1.~~18599682~~10135258 712.~~11496931~~67667652 0.00000000 B-6 1,319,993.00 ~~742~~728.~~00216971~~38213536 1.~~18599871~~10135433 712.~~11496197~~67667329 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 67.~~65070388~~34561059 ~~276~~265.~~64288480~~59657122 0.~~27664288~~26559657 67.~~65070388~~34561059 II-A 0.00000000 344.~~68523836~~28264955 ~~819~~774.~~52224699~~90311352 0.~~81952225~~77490311 344.~~68523836~~28264955 III-A 0.00000000 36.~~07727520~~43360948 ~~170~~160.~~90465348~~60858306 0.~~17090465~~16060858 36.~~07727520~~43360948 IV-A 0.00000000 50.~~83702448~~05634213 44.~~37402288~~26168740 0.~~04437402~~04426169 50.~~83702448~~05634213 B-1 0.00000000 813.~~30096480~~77803029 ~~733~~714.~~70148430~~60437669 0.~~73370148~~71460438 813.~~30096480~~77803029 B-2 0.00000000 813.~~30096495~~77803123 ~~733~~714.~~70148322~~60437466 0.~~73370148~~71460437 813.~~30096495~~77803123 B-3 0.00000000 813.~~30096449~~77803108 ~~733~~714.~~70148570~~60437430 0.~~73370149~~71460437 813.~~30096449~~77803108 B-4 0.00000000 813.~~30096444~~77803215 ~~733~~714.~~70148076~~60437409 0.~~73370148~~71460437 813.~~30096444~~77803215 B-5 0.00000000 813.~~30096613~~77802910 ~~733~~714.~~70148897~~60437599 0.~~73370149~~71460438 813.~~30096613~~77802910 B-6 0.00000000 813.~~30096069~~77802761 ~~733~~714.~~70120902~~60410775 0.~~73370121~~71460411 813.~~30096069~~77802761 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 16,941,900.00 4.~~45777~~40886% 4,~~799~~624,~~531~~159.6515 1716,~~829~~989.3441 0.00 0.00 II-A 59,270,500.00 2.~~71489~~69418% 48,~~791~~553,~~919~~549.2677 ~~110~~109,~~387~~009.3898 0.00 0.00 III-A 162,837,100.00 4.~~20327~~00645% 2827,~~330~~200,~~712~~666.7121 9990,~~234~~815.6801 0.00 0.00 IV-A 41,028,800.00 7.~~09995~~18216% 21,~~060~~818,~~099~~315.0356 1210,~~188~~882.8486 0.00 0.00 B-1 4,985,500.00 43.~~08608~~95593% 3,~~699~~631,~~253~~350.2049 1211,~~596~~971.2014 0.00 0.00 B-2 2,932,800.00 43.~~08608~~95593% 2,~~176~~136,~~144~~199.7892 7,~~409~~042.9122 0.00 0.00 B-3 2,052,900.00 43.~~08608~~95593% 1,~~523~~495,~~256~~296.8324 54,~~186~~929.7941 0.00 0.00 B-4 1,026,500.00 43.~~08608~~95593% ~~761~~747,~~665~~684.5154 2,~~593~~464.5282 0.00 0.00 B-5 879,800.00 43.~~08608~~95593% ~~652~~640,~~813~~830.7584 2,~~222~~112.8757 0.00 0.00 B-6 1,319,993.00 43.~~08608~~95593% ~~979~~961,~~437~~459.6732 3,~~335~~169.0556 0.00 0.00 R-I 50.00 6.~~36442~~36452% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36442~~36452% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~272~~259,~~984~~386.5898 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 0.00 0.00 1716,~~829~~989.3441 0.00 4,~~686~~499,~~856~~710.0955 II-A 0.00 0.00 ~~110~~109,~~387~~009.3898 0.00 4845,~~573~~928,~~493~~894.3499 III-A 0.00 0.00 9990,~~234~~815.6801 0.00 2726,~~829~~153,~~618~~035.1590 IV-A 0.00 0.00 1210,~~188~~882.8486 0.00 1,~~820~~816,~~612~~003.9192 B-1 0.00 0.00 1211,~~596~~971.2014 0.00 3,~~657~~562,~~868~~660.7512 B-2 0.00 0.00 7,~~409~~042.9122 0.00 2,~~151~~095,~~799~~791.71 B-3 0.00 0.00 54,~~186~~929.7941 0.00 1,~~506~~467,~~215~~011.7832 B-4 0.00 0.00 2,~~593~~464.5282 0.00 ~~753~~733,~~144~~541.5739 B-5 0.00 0.00 2,~~222~~112.8757 0.00 ~~645~~628,~~510~~708.5793 B-6 0.00 0.00 3,~~335~~169.0556 0.00 ~~968~~943,~~480~~272.4642 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~272~~259,~~984~~386.5898 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 16,941,900.00 4.~~45777~~40886% ~~283~~272.~~29358868~~94218181 1.~~05238137~~00280429 0.00000000 0.00000000 II-A 59,270,500.00 2.~~71489~~69418% ~~823~~819.~~20748534~~18576307 1.~~86243376~~83919454 0.00000000 0.00000000 III-A 162,837,100.00 4.~~20327~~00645% ~~173~~167.~~98192863~~04219253 0.~~60941075~~55770466 0.00000000 0.00000000 IV-A 41,028,800.00 7.~~09995~~18216% 5044.~~21104761~~31802929 0.~~29708010~~26524929 0.00000000 0.00000000 B-1 4,985,500.00 43.~~08608~~95593% ~~742~~728.~~00244710~~38240698 2.~~52656704~~40119146 0.00000000 0.00000000 B-2 2,932,800.00 43.~~08608~~95593% ~~742~~728.~~00244817~~38240589 2.~~52656506~~40119340 0.00000000 0.00000000 B-3 2,052,900.00 43.~~08608~~95593% ~~742~~728.~~00245019~~38240538 2.~~52656730~~40119343 0.00000000 0.00000000 B-4 1,026,500.00 43.~~08608~~95593% ~~742~~728.~~00244520~~38240623 2.~~52656600~~40118850 0.00000000 0.00000000 B-5 879,800.00 43.~~08608~~95593% ~~742~~728.~~00244374~~38240509 2.~~52656286~~40119345 0.00000000 0.00000000 B-6 1,319,993.00 43.~~08608~~95593% ~~742~~728.~~00216971~~38213536 2.~~52656643~~40119455 0.00000000 0.00000000 R-I 50.00 6.~~36442~~36452% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36442~~36452% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 I-A 0.00000000 0.00000000 1.~~05238137~~00280429 0.00000000 ~~276~~265.~~64288480~~59657122 II-A 0.00000000 0.00000000 1.~~86243376~~83919454 0.00000000 ~~819~~774.~~52224699~~90311352 III-A 0.00000000 0.00000000 0.~~60941075~~55770466 0.00000000 ~~170~~160.~~90465348~~60858306 IV-A 0.00000000 0.00000000 0.~~29708010~~26524929 0.00000000 44.~~37402288~~26168740 B-1 0.00000000 0.00000000 2.~~52656704~~40119146 0.00000000 ~~733~~714.~~70148430~~60437669 B-2 0.00000000 0.00000000 2.~~52656506~~40119340 0.00000000 ~~733~~714.~~70148322~~60437466 B-3 0.00000000 0.00000000 2.~~52656730~~40119343 0.00000000 ~~733~~714.~~70148570~~60437430 B-4 0.00000000 0.00000000 2.~~52656600~~40118850 0.00000000 ~~733~~714.~~70148076~~60437409 B-5 0.00000000 0.00000000 2.~~52656286~~40119345 0.00000000 ~~733~~714.~~70148897~~60437599 B-6 0.00000000 0.00000000 2.~~52656643~~40119455 0.00000000 ~~733~~714.~~70120902~~60410775 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 14,~~485~~266,~~594~~574.5584 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 610,~~354~~122.4514 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 14,~~491~~276,~~949~~696.0098 Withdrawals Reimbursement for Servicer Advances 87,~~277~~604.3170 Payment of Service Fee 2928,~~453~~824.0350 Payment of Interest and Principal 14,~~454~~240,~~218~~267.6678 Total Withdrawals (Pool Distribution Amount) 14,~~491~~276,~~949~~696.0098 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2928,~~453~~824.0350 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2928,~~453~~824.0350

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 ~~788~~402,~~335~~269.7527 0.00 0.00 ~~788~~402,~~335~~269.7527 30 Days 24 0 0 0 24 ~~985~~1,~~268~~098,394.1249 0.00 0.00 0.00 ~~985~~1,~~268~~098,394.1249 60 Days 0 1 0 0 0 1 462,078.23 0.00 ~~76,307.57~~ 0.00 0.00 76462,~~307~~078.5723 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 2 0 2 0.00 0.00 594,422.20 0.00 594,422.20 Totals 5 2 3 2 0 79 ~~985~~1,~~268~~560,472.1272 ~~864~~402,~~643~~269.3227 594,422.20 0.00 2,~~444~~557,~~333~~164.6419 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.~~854701~~892857% 0.000000% 0.000000% 0.~~854701~~892857% 0.~~850570~~457579% 0.000000% 0.000000% 0.~~850570~~457579% 30 Days 01.~~854701~~785714% 0.000000% 0.000000% 0.000000% 01.~~854701~~785714% 1.~~063049~~249417% 0.000000% 0.000000% 0.000000% 1.~~063049~~249417% 60 Days 0.~~000000~~446429% 0.~~427350~~000000% 0.000000% 0.000000% 0.~~427350~~446429% 0.~~000000~~525611% 0.~~082332~~000000% 0.000000% 0.000000% 0.~~082332~~525611% 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.~~854701~~892857% 0.000000% 0.~~854701~~892857% 0.000000% 0.000000% 0.~~641348~~676152% 0.000000% 0.~~641348~~676152% Totals 02.~~854701~~232143% 10.~~282051~~892857% 0.~~854701~~892857% 0.000000% 24.~~991453~~017857% 1.~~063049~~775029% 0.~~932902~~457579% 0.~~641348~~676152% 0.000000% 2.~~637299~~908760%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 01 0 0 0 01 0219,530.0048 0.00 0.00 0.00 0219,530.0048 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 01 0 0 0 01 0219,530.0048 0.00 0.00 0.00 0219,530.0048 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~000000~~030303% 0.000000% 0.000000% 0.000000% 03.~~000000~~030303% 04.~~000000~~320969% 0.000000% 0.000000% 0.000000% 04.~~000000~~320969% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 03.~~000000~~030303% 0.000000% 0.000000% 0.000000% 03.~~000000~~030303% 04.~~000000~~320969% 0.000000% 0.000000% 0.000000% 04.~~000000~~320969% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 1 0 0 1 326,257.52 0.00 0.00 326,257.52 30 Days 2 0 0 0 2 ~~985~~823,~~268~~620.1286 0.00 0.00 0.00 ~~985~~823,~~268~~620.1286 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 2 1 0 0 3 ~~985~~823,~~268~~620.1286 326,257.52 0.00 0.00 1,~~311~~149,~~525~~878.6438 0-29 Days 0.~~943396~~970874% 0.000000% 0.000000% 0.~~943396~~970874% 0.~~637191~~672832% 0.000000% 0.000000% 0.~~637191~~672832% 30 Days 1.~~886792~~941748% 0.000000% 0.000000% 0.000000% 1.~~886792~~941748% 1.~~924258~~698532% 0.000000% 0.000000% 0.000000% 1.~~924258~~698532% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 1.~~886792~~941748% 0.~~943396~~970874% 0.000000% 0.000000% 2.~~830189~~912621% 1.~~924258~~698532% 0.~~637191~~672832% 0.000000% 0.000000% 2.~~561449~~371365% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III 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 10 0 0 10 ~~462,078~~0.2300 0.00 0.00 ~~462,078~~0.2300 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 01 0 0 0 01 0462,078.0023 0.00 0.00 0.00 0462,078.0023 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 1 0 1 0.00 0.00 488,261.79 0.00 488,261.79 Totals 1 0 1 1 0 2 ~~0.00~~ 462,078.23 0.00 488,261.79 0.00 950,340.02 0-29 Days 10.~~204819~~000000% 0.000000% 0.000000% 10.~~204819~~000000% 10.~~378956~~000000% 0.000000% 0.000000% 10.~~378956~~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 01.~~000000~~282051% 0.000000% 0.000000% 0.000000% 01.~~000000~~282051% 01.~~000000~~459493% 0.000000% 0.000000% 0.000000% 01.~~000000~~459493% 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% 1.~~204819~~282051% 0.000000% 1.~~204819~~282051% 0.000000% 0.000000% 1.~~457094~~542194% 0.000000% 1.~~457094~~542194% Totals 01.~~000000~~282051% 10.~~204819~~000000% 1.~~204819~~282051% 0.000000% 2.~~409639~~564103% 01.~~000000~~459493% 10.~~378956~~000000% 1.~~457094~~542194% 0.000000% 23.~~836049~~001687% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV 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 01 0 0 01 076,011.0075 0.00 0.00 076,011.0075 30 Days 01 0 0 0 01 055,243.0015 0.00 0.00 0.00 055,243.0015 60 Days 0 10 0 0 10 0.00 ~~76,307~~0.5700 0.00 0.00 ~~76,307~~0.5700 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 1 0 1 0.00 0.00 106,160.41 0.00 106,160.41 Totals 01 1 1 0 23 055,243.0015 76,~~307~~011.5775 106,160.41 0.00 ~~182~~237,~~467~~415.9831 0-29 Days 010.000000% 0.000000% 0.000000% 010.000000% 02.~~000000~~834578% 0.000000% 0.000000% 02.~~000000~~834578% 30 Days 010.000000% 0.000000% 0.000000% 0.000000% 010.000000% 02.~~000000~~060090% 0.000000% 0.000000% 0.000000% 02.~~000000~~060090% 60 Days 0.000000% 100.000000% 0.000000% 0.000000% 100.000000% 0.000000% 20.~~838773~~000000% 0.000000% 0.000000% 20.~~838773~~000000% 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% 10.000000% 0.000000% 10.000000% 0.000000% 0.000000% 3.~~949350~~958861% 0.000000% 3.~~949350~~958861% Totals 010.000000% 10.000000% 10.000000% 0.000000% 2030.000000% 02.~~000000~~060090% 2.~~838773~~834578% 3.~~949350~~958861% 0.000000% 68.~~788123~~853528%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 610,~~354~~122.4514

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 8783,~~906~~328,~~744~~920.2470 94.~~93825052~~87671562% 5.~~061749~~123284% 0.000000% Class 2A 217,063,493.00 74.01341132% 3937,~~333~~400,~~250~~025.9071 42.~~47944865~~58295408% 52.~~458802~~293762% ~~501~~486.~~635793~~999933% Class 3A 54,226,393.00 18.48989102% 11,~~503~~246,~~632~~989.7581 12.~~42378816~~80560752% 3029.~~055660~~777347% ~~287~~277.~~406394~~309671% Class R-I 13,197,543.00 4.50004358% 9,~~683~~430,~~019~~985.8489 10.~~45754761~~73794019% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 9,~~683~~430,~~019~~985.8489 10.~~45754761~~73794019% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 65,~~025~~868,~~151~~325.0977 6.~~50709236~~68156350% 34.~~950455~~056377% 37.776115% Class B-2 5,279,193.00 1.80007738% 3,~~873~~772,~~351~~534.3806 4.~~18317396~~29533514% 2.~~323918~~386228% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~367~~305,~~135~~522.6074 2.~~55647862~~62502410% 1.~~626695~~670311% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~613~~571,~~991~~981.0335 1.~~74309134~~78982790% 0.~~813387~~835196% 7.777993% Class B-5 1,319,993.00 0.45008575% ~~968~~943,~~480~~272.4642 1.~~04594751~~07399194% 0.~~697144~~715836% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~045948~~073992% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 3.~~870176~~767341% Weighted Average Net Coupon 3.~~493277~~390589% Weighted Average Pass-Through Rate 3.~~493277~~390589% Weighted Average Maturity(Stepdown Calculation ) ~~326~~324 Beginning Scheduled Collateral Loan Count ~~238~~231 Number Of Loans Paid In Full 47 Ending Scheduled Collateral Loan Count ~~234~~224 Beginning Scheduled Collateral Balance 9391,~~774~~809,~~834~~512.4005 Ending Scheduled Collateral Balance 9287,~~593~~828,~~600~~631.3225 Ending Actual Collateral Balance at 2930-~~Feb~~Apr-2004 9287,~~683~~912,~~213~~529.2300 Monthly P &I Constant ~~399~~379,~~865~~465.9082 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 14,~~311~~026,~~322~~742.4160 Ending Scheduled Balance for Premium Loans 9287,~~593~~828,~~600~~631.3225 Scheduled Principal 9791,~~428~~234.3037 Unscheduled Principal 13,~~083~~889,~~805~~646.7843

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 4.~~832769~~788482 3.~~089893~~069179 4.~~578269~~381446 Weighted Average Net Rate 4.~~457768~~413480 2.~~714893~~694179 4.~~203269~~006446 Weighted Average Maturity ~~259~~257 ~~271~~269 ~~326~~324 Beginning Loan Count 3634 ~~107~~106 8481 Loans Paid In Full 1 13 13 Ending Loan Count 3533 ~~106~~103 8378 Beginning Scheduled Balance 5,~~379~~191,~~693~~461.1894 51,~~428~~184,~~676~~034.9690 3332,~~998~~753,~~697~~526.0809 Ending scheduled Balance 5,~~259~~058,~~125~~454.3664 5148,~~204~~490,~~504~~157.3531 3331,~~446~~602,~~128~~904.0769 Record Date 0204/2930/2004 0204/2930/2004 0204/2930/2004 Principal And Interest Constant 4744,~~463~~352.7321 ~~132~~130,~~424~~910.2782 ~~194~~183,~~669~~953.7268 Scheduled Principal 2523,~~798~~636.0519 0.00 64,~~957~~363.0683 Unscheduled Principal 94109,~~769~~371.7711 ~~224~~2,~~172~~693,877.6159 ~~487~~1,~~611~~086,257.9557 Scheduled Interest 2120,~~665~~716.6802 ~~132~~130,~~424~~910.2782 ~~129~~119,~~712~~589.6685 Servicing Fees 1,~~681~~622.1634 1615,~~071~~995.4601 10,~~624~~235.6048 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 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 19,~~984~~093.5268 ~~116~~114,~~352~~915.81 ~~119~~109,~~088~~354.0637 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.~~457769~~413482 2.~~714893~~694179 4.~~203269~~006446

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~534954~~617159 3.~~870176~~767341 Weighted Average Net Rate 7.~~099956~~182162 3.~~493277~~390589 Weighted Average Maturity ~~326~~324 ~~326~~324 Beginning Loan Count 1110 ~~238~~231 Loans Paid In Full 10 47 Ending Loan Count 10 ~~234~~224 Beginning Scheduled Balance 2,~~967~~680,~~767~~489.1812 9391,~~774~~809,~~834~~512.4005 Ending scheduled Balance 2,~~683~~677,~~842~~114.5461 9287,~~593~~828,~~600~~631.3225 Record Date 0204/2930/2004 0204/2930/2004 Principal And Interest Constant 2520,~~308~~249.1811 ~~399~~379,~~865~~465.9082 Scheduled Principal 63,~~673~~234.1935 9791,~~428~~234.3037 Unscheduled Principal ~~277,251~~140.4516 13,~~083~~889,~~805~~646.7843 Scheduled Interest 1817,~~634~~014.9976 ~~302~~288,~~437~~231.6045 Servicing Fees ~~1,075~~971.8167 2928,~~453~~824.0350 Master Servicing Fees 0.00 0.00 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 1716,~~559~~043.1809 ~~272~~259,~~984~~406.5795 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~099954~~182159 3.~~493277~~390589

Miscellaneous Reporting Group Group I Senior Percentage Group I 89.~~215713~~072389% Senior Prep. Percentage Group I 94.~~607857~~536194% Subordinate Percentage Group I 10.~~784287~~927611% Subordinate Prep. Percentage Group I 5.~~392143~~463806% Group Group II Senior Percentage Group II 94.~~872982~~860731% Senior Prep. Percentage Group II 97.~~436491~~430366% Subordinate Percentage Group II 5.~~127018~~139269% Subordinate Prep. Percentage Group II 2.~~563509~~569634% Group Group III Senior Percentage Group III 83.~~328819~~046528% Senior Prep. Percentage Group III 91.~~664409~~523264% Subordinate Percentage Group III 16.~~671181~~953472% Subordinate Prep. Percentage Group III 8.~~335591~~476736%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 6967.~~415790~~835215% Senior Prep. Percentage Group IV 8483.~~707895~~917608% Subordinate Percentage Group IV 3032.~~584210~~164785% Subordinate Prep. Percentage Group IV 1516.~~292105~~082392%

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT SER 2001-7