8-K 1 bst02002_jul.txt JULY 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): July 26, 2004 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-21 45-0470721 Pooling and Servicing Agreement) (Commission 45-0470722 (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 July 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2002-2 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 Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the July 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 2002-2 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: 8/3/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-2 Trust, relating to the July 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 26/2930/2004 Distribution Date: 37/2526/2004 BST Series: 2002-2 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 07384MJB9 SEN 2.~~83501~~85432% 8178,~~797~~514,~~710~~808.0615 ~~188~~186,~~448~~755.6133 ~~181~~1,~~189~~842,304.3447 II-A 07384MJE3 SEN 54.~~02560~~67089% 65,~~399~~063,~~645~~687.5474 2619,~~136~~709.0894 ~~271~~769,~~272~~987.4291 III-A 07384MJF0 SEN 6.~~76619~~91697% 63,~~185~~280,~~576~~211.1664 3418,~~011~~907.1460 2264,~~612,273~~748.6246 R-1 07384MJC7 RES 3.~~62457~~62402% 0.00 0.00 0.00 R-2 07384MJD5 RES 3.~~62457~~62402% 0.00 0.00 0.00 B-1 07384MJG8 SUB 4.~~41550~~25187% 43,~~331~~953,~~212~~040.9128 1514,~~541~~006.2551 ~~233~~108,~~171~~918.3334 B-2 07384MJH6 SUB 4.~~41550~~25187% 1,~~949~~779,~~247~~052.5021 6,~~994~~303.2958 ~~104~~49,~~937~~018.9633 B-3 07384MJJ2 SUB 4.~~41550~~25187% 1,~~299~~185,~~345~~895.5435 4,~~662~~201.3189 6932,~~950~~675.4104 B-4 07384MJT0 SUB 4.~~41550~~25187% ~~866~~790,~~260~~624.9279 32,~~108~~801.3236 4621,~~635~~784.2513 B-5 07384MJU7 SUB 4.~~41550~~25187% ~~649~~592,~~626~~905.9384 2,~~330~~100.9980 3416,~~972~~336.7437 B-6 07384MJV5 SUB 4.~~41550~~25187% ~~649~~554,~~870~~916.9148 21,~~331~~966.8719 3415,~~985~~289.8765 Totals ~~104~~95,~~128~~715,~~496~~142.4748 ~~283~~256,~~564~~753.8620 3,~~589~~121,~~388~~062.9470

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 8176,~~616~~672,~~520~~503.7368 ~~369~~2,~~637~~029,059.9580 0.00 II-A 0.00 64,~~128~~293,~~373~~699.1383 ~~297~~789,~~408~~697.5085 0.00 III-A 0.00 3,~~573~~015,~~302~~463.5318 2283,~~646,284~~656.7606 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 B-1 0.00 43,~~098~~844,~~041~~121.5894 ~~248~~122,~~712~~924.5885 0.00 B-2 0.00 1,~~844~~730,~~309~~033.5488 ~~111~~55,~~932~~321.2591 0.00 B-3 0.00 1,~~229~~153,~~395~~220.1331 7436,~~612~~876.7293 0.00 B-4 0.00 ~~819~~768,~~625~~840.66 4924,~~743~~585.5749 0.00 B-5 0.00 ~~614~~576,~~654~~569.1947 3718,~~303~~437.7317 0.00 B-6 0.00 ~~614~~539,~~885~~626.0483 3717,~~317~~255.7484 038,212.0004 Totals 0.00 ~~100~~92,~~539~~594,~~107~~079.5378 3,~~872~~377,~~953~~815.8090 038,212.0004 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 106,205,800.00 8178,~~797~~514,~~710~~808.0615 0.00 ~~181~~1,~~189~~842,304.3447 0.00 0.00 II-A 48,612,400.00 65,~~399~~063,~~645~~687.5474 97,~~247~~814.3725 ~~262~~762,~~025~~173.0566 0.00 0.00 III-A 70,774,500.00 63,~~185~~280,~~576~~211.1664 73,~~830~~789.5869 2260,~~604,443~~958.0477 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 B-1 4,724,400.00 43,~~331~~953,~~212~~040.9128 2,~~881~~423.1663 ~~230~~106,~~290~~494.1771 0.00 0.00 B-2 2,126,200.00 1,~~949~~779,~~247~~052.5021 1,~~296~~090.6675 ~~103~~47,~~641~~927.3058 0.00 0.00 B-3 1,417,300.00 1,~~299~~185,~~345~~895.5435 ~~864~~727.3408 6931,~~086~~947.0896 0.00 0.00 B-4 944,900.00 ~~866~~790,~~260~~624.9279 ~~576~~484.2474 4621,~~059~~299.0139 0.00 0.00 B-5 708,600.00 ~~649~~592,~~626~~905.9384 ~~432~~363.1451 3415,~~540~~972.6085 0.00 0.00 B-6 708,866.18 ~~649~~554,~~870~~916.9148 ~~432~~340.3022 3414,~~553~~949.5742 0.00 0.00 Totals 236,223,066.18 ~~104~~95,~~128~~715,~~496~~142.4748 2317,~~560~~033.7987 3,~~565~~104,~~828~~028.1681 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 ~~181~~1,~~189~~842,304.3447 8176,~~616~~672,~~520~~503.7368 0.~~76847517~~72192388 ~~181~~1,~~189~~842,304.3447 II-A ~~271~~769,~~272~~987.4291 64,~~128~~293,~~373~~699.1383 0.~~12606605~~08832520 ~~271~~769,~~272~~987.4291 III-A 2264,~~612,273~~748.6246 3,~~573~~015,~~302~~463.5318 0.~~05048856~~04260663 2264,~~612,273~~748.6246 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 B-1 ~~233~~108,~~171~~918.3334 43,~~098~~844,~~041~~121.5894 0.~~86742054~~81367410 ~~233~~108,~~171~~918.3334 B-2 ~~104~~49,~~937~~018.9633 1,~~844~~730,~~309~~033.5488 0.~~86742053~~81367410 ~~104~~49,~~937~~018.9633 B-3 6932,~~950~~675.4104 1,~~229~~153,~~395~~220.1331 0.~~86742054~~81367411 6932,~~950~~675.4104 B-4 4621,~~635~~784.2513 ~~819~~768,~~625~~840.66 0.~~86742053~~81367410 4621,~~635~~784.2513 B-5 3416,~~972~~336.7437 ~~614~~576,~~654~~569.1947 0.~~86742053~~81367410 3416,~~972~~336.7437 B-6 3415,~~985~~289.8765 ~~614~~539,~~885~~626.0483 0.~~86742048~~76125346 3415,~~985~~289.8765 Totals 3,~~589~~121,~~388~~062.9470 ~~100~~92,~~539~~594,~~107~~079.5378 0.~~42561088~~39197730 3,~~589~~121,~~388~~062.9470

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 106,205,800.00 ~~770~~739.~~18119594~~27043674 0.00000000 117.~~70602114~~34655235 0.00000000 II-A 48,612,400.00 ~~131~~104.~~64636060~~16452880 0.~~19022657~~16074602 515.~~39008669~~67858530 0.00000000 III-A 70,774,500.00 8746.~~39837314~~34736579 0.~~11064126~~05354598 363.~~79917258~~68718635 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 B-1 4,724,400.00 ~~916~~836.~~77523283~~72853272 0.~~60984675~~51300271 4822.~~74485014~~54142537 0.00000000 B-2 2,126,200.00 ~~916~~836.~~77523281~~72853447 0.~~60984856~~51300442 4822.~~74484997~~54142602 0.00000000 B-3 1,417,300.00 ~~916~~836.~~77523460~~72853313 0.~~60984971~~51300360 4822.~~74485289~~54142383 0.00000000 B-4 944,900.00 ~~916~~836.~~77523547~~72853212 0.~~60984231~~51300667 4822.~~74485131~~54142237 0.00000000 B-5 708,600.00 ~~916~~836.~~77523285~~72853514 0.~~60985041~~51299746 4822.~~74484900~~54141970 0.00000000 B-6 708,866.18 ~~916~~782.~~77516622~~82261964 0.~~60984712~~47994954 4821.~~74484208~~08919909 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 117.~~70602114~~34655235 ~~768~~721.~~47517490~~92388438 0.~~76847517~~72192388 117.~~70602114~~34655235 II-A 0.00000000 515.~~58031325~~83933132 ~~126~~88.~~06604755~~32519748 0.~~12606605~~08832520 515.~~58031325~~83933132 III-A 0.00000000 363.~~90981385~~74073233 5042.~~48855916~~60663346 0.~~05048856~~04260663 363.~~90981385~~74073233 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4923.~~35469689~~05442808 ~~867~~813.~~42053594~~67410465 0.~~86742054~~81367410 4923.~~35469689~~05442808 B-2 0.00000000 4923.~~35469852~~05443044 ~~867~~813.~~42053429~~67410404 0.~~86742053~~81367410 4923.~~35469852~~05443044 B-3 0.00000000 4923.~~35469555~~05442743 ~~867~~813.~~42053905~~67410569 0.~~86742054~~81367411 4923.~~35469555~~05442743 B-4 0.00000000 4923.~~35469362~~05442904 ~~867~~813.~~42053127~~67410308 0.~~86742053~~81367410 4923.~~35469362~~05442904 B-5 0.00000000 4923.~~35469941~~05443127 ~~867~~813.~~42053345~~67410387 0.~~86742053~~81367410 4923.~~35469941~~05443127 B-6 0.00000000 4921.~~35468920~~56916274 ~~867~~761.~~42047702~~25345689 0.~~86742048~~76125346 4921.~~35468920~~56916274 (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 106,205,800.00 2.~~83501~~85432% 8178,~~797~~514,~~710~~808.0615 ~~193~~186,~~247~~755.8933 0.00 0.00 II-A 48,612,400.00 54.~~02560~~67089% 65,~~399~~063,~~645~~687.5474 2619,~~801~~709.6994 0.00 0.00 III-A 70,774,500.00 6.~~76619~~91697% 63,~~185~~280,~~576~~211.1664 3418,~~877~~907.3260 0.00 0.00 R-1 50.00 3.~~62457~~62402% 0.00 0.00 0.00 0.00 R-2 50.00 3.~~62457~~62402% 0.00 0.00 0.00 0.00 B-1 4,724,400.00 4.~~41550~~25187% 43,~~331~~953,~~212~~040.9128 1514,~~937~~006.0550 0.00 0.00 B-2 2,126,200.00 4.~~41550~~25187% 1,~~949~~779,~~247~~052.5021 76,~~172~~303.4158 0.00 0.00 B-3 1,417,300.00 4.~~41550~~25187% 1,~~299~~185,~~345~~895.5435 4,~~781~~201.0589 0.00 0.00 B-4 944,900.00 4.~~41550~~25187% ~~866~~790,~~260~~624.9279 32,~~187~~801.4836 0.00 0.00 B-5 708,600.00 4.~~41550~~25187% ~~649~~592,~~626~~905.9384 2,~~390~~100.3580 0.00 0.00 B-6 708,866.18 4.~~41550~~25187% ~~649~~554,~~870~~916.9148 21,~~391~~966.2519 0.00 0.00 Totals 236,223,066.18 ~~290~~256,~~786~~753.4919 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 ~~4,799~~(0.2801) 0.00 ~~188~~186,~~448~~755.6133 0.00 8176,~~616~~672,~~520~~503.7368 II-A ~~665~~0.6200 0.00 2619,~~136~~709.0894 0.00 64,~~128~~293,~~373~~699.1383 III-A ~~866~~0.1700 0.00 3418,~~011~~907.1460 0.00 3,~~573~~015,~~302~~463.5318 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 B-1 ~~395~~0.7900 0.00 1514,~~541~~006.2551 0.00 43,~~098~~844,~~041~~121.5894 B-2 ~~178~~0.1300 0.00 6,~~994~~303.2958 0.00 1,~~844~~730,~~309~~033.5488 B-3 ~~118~~0.7400 0.00 4,~~662~~201.3189 0.00 1,~~229~~153,~~395~~220.1331 B-4 790.1600 0.00 32,~~108~~801.3236 0.00 ~~819~~768,~~625~~840.66 B-5 590.3600 0.00 2,~~330~~100.9980 0.00 ~~614~~576,~~654~~569.1947 B-6 590.3900 0.00 21,~~331~~966.8719 0.00 ~~614~~539,~~885~~626.0483 Totals ~~7,221~~(0.6401) 0.00 ~~283~~256,~~564~~753.8620 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 106,205,800.00 2.~~83501~~85432% ~~770~~739.~~18119594~~27043674 1.~~81956061~~75842873 0.00000000 0.00000000 II-A 48,612,400.00 54.~~02560~~67089% ~~131~~104.~~64636060~~16452880 0.~~55133443~~40545087 0.00000000 0.00000000 III-A 70,774,500.00 6.~~76619~~91697% 8746.~~39837314~~34736579 0.~~49279500~~26715272 0.00000000 0.00000000 R-1 50.00 3.~~62457~~62402% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 3.~~62457~~62402% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,724,400.00 4.~~41550~~25187% ~~916~~836.~~77523283~~72853272 32.~~37334900~~96471510 0.00000000 0.00000000 B-2 2,126,200.00 4.~~41550~~25187% ~~916~~836.~~77523281~~72853447 32.~~37334682~~96471640 0.00000000 0.00000000 B-3 1,417,300.00 4.~~41550~~25187% ~~916~~836.~~77523460~~72853313 32.~~37335074~~96471460 0.00000000 0.00000000 B-4 944,900.00 4.~~41550~~25187% ~~916~~836.~~77523547~~72853212 32.~~37335168~~96471584 0.00000000 0.00000000 B-5 708,600.00 4.~~41550~~25187% ~~916~~836.~~77523285~~72853514 32.~~37334180~~96471916 0.00000000 0.00000000 B-6 708,866.18 4.~~41550~~25187% ~~916~~782.~~77516622~~82261964 32.~~37334474~~77371111 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A (0.~~04518849~~00000009) 0.00000000 1.~~77437212~~75842873 0.00000000 ~~768~~721.~~47517490~~92388438 II-A 0.~~01369239~~00000000 0.00000000 0.~~53764225~~40545087 0.00000000 ~~126~~88.~~06604755~~32519748 III-A 0.~~01223845~~00000000 0.00000000 0.~~48055642~~26715272 0.00000000 5042.~~48855916~~60663346 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.~~08377572~~00000000 0.00000000 32.~~28957116~~96471721 0.00000000 ~~867~~813.~~42053594~~67410465 B-2 0.~~08377857~~00000000 0.00000000 32.~~28957295~~96471640 0.00000000 ~~867~~813.~~42053429~~67410404 B-3 0.~~08377902~~00000000 0.00000000 32.~~28957172~~96471460 0.00000000 ~~867~~813.~~42053905~~67410569 B-4 0.~~08377606~~00000000 0.00000000 32.~~28957562~~96471584 0.00000000 ~~867~~813.~~42053127~~67410308 B-5 0.~~08377082~~00000000 0.00000000 32.~~28957099~~96471916 0.00000000 ~~867~~813.~~42053345~~67410387 B-6 0.~~08378168~~00000000 0.00000000 32.~~28957717~~77371111 0.00000000 ~~867~~761.~~42047702~~25345689 (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 3,~~908~~407,~~520~~502.8206 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 86,~~111~~545.9466 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 3,~~916~~414,~~632~~047.7672 Withdrawals Reimbursement for Servicer Advances 105,~~271~~523.0818 Payment of Service Fee 3330,~~407~~708.8864 Payment of Interest and Principal 3,~~872~~377,~~953~~815.8090 Total Withdrawals (Pool Distribution Amount) 3,~~916~~414,~~632~~047.7672 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall ~~7,221~~0.6400

SERVICING FEES Gross Servicing Fee 3229,~~540~~911.1600 Master Servicing Fee ~~867~~797.7264 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3330,~~407~~708.8864

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 2 403,840.93 0.00 0.00 403,840.93 30 Days 103 0 0 0 103 21,~~584~~267,~~944~~175.1574 0.00 0.00 0.00 21,~~584~~267,~~944~~175.1574 60 Days 1 0 0 0 1 ~~142~~599,~~964~~888.6000 0.00 0.00 0.00 ~~142~~599,~~964~~888.6000 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 2 12 30.00 0.00 0.00 263,372.63 ~~163~~263,~~200~~372.~~00 426,572.~~63 Totals 114 2 0 2 18 ~~16 2~~1,~~727~~867,~~908~~063.7574 403,840.93 0.00 263,372.63 ~~163~~2,~~200.00 3~~534,~~558,322~~277.3130 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.~~684932~~746269% 0.000000% 0.000000% 0.~~684932~~746269% 0.~~401601~~436059% 0.000000% 0.000000% 0.~~401601~~436059% 30 Days 31.~~424658~~119403% 0.000000% 0.000000% 0.000000% 31.~~424658~~119403% 21.~~570607~~368271% 0.000000% 0.000000% 0.000000% 21.~~570607~~368271% 60 Days 0.~~342466~~373134% 0.000000% 0.000000% 0.000000% 0.~~342466~~373134% 0.~~142172~~647747% 0.000000% 0.000000% 0.000000% 0.~~142172~~647747% 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.~~684932~~000000% 0.~~342466~~746269% 10.~~027397~~746269% 0.000000% 0.000000% 0.~~261912~~000000% 0.~~162295~~284385% 0.~~424207~~284385% Totals 31.~~767123~~492537% 0.~~684932~~746269% 0.~~684932~~000000% 0.~~342466~~746269% 52.~~479452~~985075% 2.~~712779~~016019% 0.~~401601~~436059% 0.~~261912~~000000% 0.~~162295~~284385% 32.~~538587~~736463%

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 1 0 0 1 140,000.00 0.00 0.00 140,000.00 30 Days 102 0 0 0 10 2 725,~~584,944~~824.1521 0.00 0.00 0.00 2725,~~584,944~~824.1521 60 Days 01 0 0 0 01 0599,888.00 0.00 0.00 0.00 0599,888.00 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 2 12 30.00 0.00 0.00 263,372.63 ~~163~~263,~~200~~372.~~00 426,572.~~63 Totals 103 1 0 2 16 ~~14 2~~1,~~584~~325,~~944~~712.1521 140,000.00 0.00 263,372.63 ~~163~~1,~~200.00 3~~729,~~151,516~~084.7884 0-29 Days 0.~~378788~~403226% 0.000000% 0.000000% 0.~~378788~~403226% 0.~~161799~~171992% 0.000000% 0.000000% 0.~~161799~~171992% 30 Days 30.~~787879~~806452% 0.000000% 0.000000% 0.000000% 30.~~787879~~806452% 20.~~987441~~891684% 0.000000% 0.000000% 0.000000% 20.~~987441~~891684% 60 Days 0.~~000000~~403226% 0.000000% 0.000000% 0.000000% 0.~~000000~~403226% 0.~~000000~~736970% 0.000000% 0.000000% 0.000000% 0.~~000000~~736970% 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.~~757576~~000000% 0.~~378788~~806452% 10.~~136364~~806452% 0.000000% 0.000000% 0.~~304382~~000000% 0.~~188612~~323557% 0.~~492993~~323557% Totals 31.~~787879~~209677% 0.~~378788~~403226% 0.~~757576~~000000% 0.~~378788~~806452% 52.~~303030~~419355% 21.~~987441~~628655% 0.~~161799~~171992% 0.~~304382~~000000% 0.~~188612~~323557% 32.~~642233~~124203% 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 1 0 0 1 263,840.93 0.00 0.00 263,840.93 30 Days 01 0 0 0 01 0541,351.0053 0.00 0.00 0.00 0541,351.0053 60 Days 10 0 0 0 10 ~~142,964~~0.6000 0.00 0.00 0.00 ~~142,964~~0.6000 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 1 0 0 2 ~~142~~541,~~964~~351.6053 263,840.93 0.00 0.00 ~~406,~~805,192.5346 0-29 Days 59.~~882353~~090909% 0.000000% 0.000000% 59.~~882353~~090909% 34.~~233323~~364909% 0.000000% 0.000000% 34.~~233323~~364909% 30 Days 09.~~000000~~090909% 0.000000% 0.000000% 0.000000% 09.~~000000~~090909% 08.~~000000~~955964% 0.000000% 0.000000% 0.000000% 08.~~000000~~955964% 60 Days 50.~~882353~~000000% 0.000000% 0.000000% 0.000000% 50.~~882353~~000000% 10.~~752005~~000000% 0.000000% 0.000000% 0.000000% 10.~~752005~~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 59.~~882353~~090909% 59.~~882353~~090909% 0.000000% 0.000000% 1118.~~764706~~181818% 18.~~752005~~955964% 34.~~233323~~364909% 0.000000% 0.000000% 413.~~985328~~320873% 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 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 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 86,~~111~~545.9466

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 130,017,266.18 55.04003833% 1815,~~922~~921,~~586~~576.8010 1817.~~82112072~~19502601% 8182.~~178879~~804974% 97.~~165489~~130018% Class R-I 130,017,216.18 55.04001717% 1815,~~922~~921,~~586~~576.8010 1817.~~82112072~~19502601% 0.000000% 0.000000% Class R-II 130,017,166.18 55.03999600% 1815,~~922~~921,~~586~~576.8010 1817.~~82112072~~19502601% 0.000000% 0.000000% Class 2A 81,404,766.18 34.46097263% 1211,~~794~~627,~~213~~876.6727 12.~~72560895~~55790467% 64.~~095512~~637121% 1.~~883864~~430823% Class 3A 10,630,266.18 4.50009660% 98,~~220~~612,~~911~~413.1409 9.~~17146707~~30125674% 3.~~554142~~256648% 1.~~098434~~004866% Class B-1 5,905,866.18 2.50012256% 54,~~122~~768,~~869~~291.5615 5.~~09539988~~14967173% 4.~~076067~~151585% 1.~~259739~~281007% Class B-2 3,779,666.18 1.60004111% 3,~~278~~038,~~560~~257.0227 3.~~26097983~~28126515% 1.~~834420~~868407% 0.~~566941~~576513% Class B-3 2,362,366.18 1.00005737% 21,~~049~~885,~~164~~036.8996 2.~~03817692~~03580722% 1.~~222803~~245458% 0.~~377916~~384297% Class B-4 1,417,466.18 0.60005409% 1,~~229~~116,~~539~~196.2330 1.~~22294623~~20547264% 0.~~815231~~830335% 0.~~251953~~256207% Class B-5 708,866.18 0.30008339% ~~614~~539,~~885~~626.0483 0.~~61158792~~58278762% 0.~~611358~~622685% 0.~~188945~~192135% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~611588~~582788% 0.~~189016~~179824% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~736088~~603847% Weighted Average Net Coupon 3.~~361088~~228847% Weighted Average Pass-Through Rate 3.~~351088~~218847% Weighted Average Maturity(Stepdown Calculation ) ~~290~~286 Beginning Scheduled Collateral Loan Count ~~299~~278 Number Of Loans Paid In Full 710 Ending Scheduled Collateral Loan Count ~~292~~268 Beginning Scheduled Collateral Balance ~~104~~95,~~128~~715,~~496~~142.4847 Ending Scheduled Collateral Balance ~~100~~92,~~539~~594,~~107~~079.5377 Ending Actual Collateral Balance at 2930-~~Feb~~Jun-2004 ~~100~~92,~~557~~611,~~720~~436.0981 Monthly P &I Constant ~~347~~304,~~755~~486.1619 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 038,212.0004 Class A Optimal Amount 3,~~319~~102,~~662~~413.2771 Ending Scheduled Balance for Premium Loans ~~100~~92,~~539~~594,~~107~~079.5377 Scheduled Principal 2317,~~560~~033.7888 Unscheduled Principal 3,~~565~~104,~~828~~028.1782

Miscellaneous Reporting Average Loss Severity 0.00 Senior Percentage Group 1 94.~~330978~~260036% Senior Percentage Group 2 7573.~~657923~~129043% Senior Percentage Group 3 6959.~~063822~~696023% Senior Prep Percentage Group 1 97.~~165489~~130018% Senior Prep Percentage Group 2 8786.~~828962~~564522% Senior Prep Percentage Group 3 8479.~~531911~~848011% Subordinate Percentage Group 1 5.~~669022~~739964% Subordinate Percentage Group 2 2426.~~342077~~870957% Subordinate Percentage Group 3 3040.~~936178~~303977% Subordinate Prep Percentage Group 1 2.~~834511~~869982% Subordinate Prep Percentage Group 2 1213.~~171038~~435478% Subordinate Prep Percentage Group 3 1520.~~468089~~151989%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed Fixed Mixed ARM Weighted Average Coupon Rate 3.~~220012~~239183 5.~~410595~~055891 7.~~151189~~301967 Weighted Average Net Rate 2.~~845012~~864183 54.~~035596~~680889 6.~~776189~~926966 Weighted Average Maturity ~~266~~262 ~~308~~304 ~~306~~302 Beginning Loan Count ~~265~~254 1814 1610 Loans Paid In Full 16 3 1 5 Ending Loan Count ~~264~~248 17 11 9 Beginning Scheduled Balance 8683,~~713~~295,~~518~~966.8021 86,~~458~~924,~~658~~318.7333 85,~~956~~494,~~318~~857.9593 Ending scheduled Balance 8681,~~527~~399,~~043~~225.8163 86,~~148~~033,~~100~~163.5490 5,~~863~~161,~~963~~690.1824 Record Date 0206/2930/2004 0206/2930/2004 0206/2930/2004 Principal And Interest Constant ~~232~~224,~~682~~842.1242 5039,~~361~~859.2539 6439,~~711~~784.7938 Scheduled Principal 0.00 1210,~~222~~685.6056 116,~~338~~348.1832 Unscheduled Principal ~~186~~1,~~474~~896,740.9958 ~~298~~880,~~335~~468.5987 3326,~~081,017~~819.5937 Scheduled Interest ~~232~~224,~~682~~842.1242 3829,~~138~~173.6583 5333,~~373~~436.6106 Servicing Fees 2726,~~097~~029.9899 2,~~643~~163.3386 21,~~798~~717.8515 Master Servicing Fees ~~722~~694.6113 7057.4871 7445.6380 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 ~~204~~198,~~861~~118.5330 3526,~~424~~952.8426 5031,~~500~~673.1311 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 038,212.0004 0.00 0.00 Percentage of Cumulative Losses 0.~~0000~~0344 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~835012~~854183 54.~~025595~~670891 6.~~766189~~916967

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 3.~~736088~~603847 Weighted Average Net Rate 3.~~361088~~228847 Weighted Average Maturity ~~290~~286 Beginning Loan Count ~~299~~278 Loans Paid In Full 710 Ending Loan Count ~~292~~268 Beginning Scheduled Balance ~~104~~95,~~128~~715,~~496~~142.4847 Ending scheduled Balance ~~100~~92,~~539~~594,~~107~~079.5377 Record Date 0206/2930/2004 Principal And Interest Constant ~~347~~304,~~755~~486.1619 Scheduled Principal 2317,~~560~~033.7888 Unscheduled Principal 3,~~565~~104,~~828~~028.1782 Scheduled Interest ~~324~~287,~~194~~452.3831 Servicing Fees 3229,~~540~~911.1600 Master Servicing Fees ~~867~~797.7264 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest ~~290~~256,~~786~~743.5067 Realized Loss Amount 0.00 Cumulative Realized Loss 038,212.0004 Percentage of Cumulative Losses 0.~~0000~~0162 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~351088~~218847

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THR CERTS SERIES 2002-2