8-K 1 bst02007.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 2002-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-04 90-0072891 Pooling and Servicing Agreement) (Commission 90-0073006 (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 2002-7 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 2002-7 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 2002-7 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: 8/4/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-7 Trust, relating to the July 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 26/2930/~~2004~~04 Distribution Date: 37/2526/~~2004~~04 BST Series: 2002-7 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 07384MMR0 SEN 5.~~54755~~56180% 1913,~~196~~165,~~105~~073.8925 8859,~~742~~722.7321 1,~~303~~400,~~942~~171.9278 II-A 07384MMS8 SEN 5.~~80395~~77048% 85,~~988~~595,~~231~~522.7345 4326,~~472~~335.6899 17,~~776,438~~133.8516 III-A 07384MMT6 SEN 65.~~01607~~94479% 107,~~360~~181,~~563~~218.7533 5134,~~941~~820.5322 ~~926~~319,~~758~~928.2515 IV-A 07384MMU3 SEN 6.~~52951~~69445% 32,~~427~~200,~~011~~311.1550 1812,~~647~~014.2522 ~~831~~306,~~557~~054.7107 V-A-1 07384MMV1 SEN 5.~~30200~~33143% 108,~~283~~392,~~267~~683.1695 4536,~~434~~495.9166 ~~341~~1,~~091~~638,812.9157 V-A-2 07384MNE8 SEN 5.~~79700~~82643% 2117,~~571~~605,~~371~~465.1100 ~~104~~83,~~207~~665.7156 ~~715~~3,~~513~~437,762.8788 V-X 07384MNF5 SEN 0.49500% 0.00 43,~~241~~388.8547 0.00 VI-A 07384MMW9 SEN 5.~~58627~~57623% 1813,~~031~~737,~~828~~121.3859 8362,~~942~~478.2290 ~~366~~603,~~654~~740.8773 VI-X 07384MNG3 SEN 0.47900% 0.00 75,~~197~~366.7096 0.00 VII-A 07384MMX7 SEN 5.~~65870~~63464% 1410,~~447~~881,~~012~~701.2251 6850,~~126~~010.0537 ~~903~~877,~~005~~866.7621 VII-X 07384MNH1 SEN 0.64700% 0.00 75,~~789~~742.3546 0.00 B-1 07384MNB4 SUB 5.~~92737~~93800% 54,~~355~~661,~~796~~509.5549 2622,~~454~~576.8088 ~~186~~248,~~895~~060.9297 B-2 07384MNC2 SUB 5.~~92737~~93800% 3,~~642~~169,~~118~~979.0397 1715,~~990~~353.1402 ~~127~~168,~~095~~689.3863 B-3 07384MND0 SUB 5.~~92737~~93800% 21,~~142~~864,~~331~~614.0460 109,~~581~~030.9880 7499,~~758~~224.8096 B-4 07384MNJ7 SUB 5.~~92737~~93800% 1932,~~071,196~~334.5733 54,~~291~~515.1453 3749,~~380~~613.4992 B-5 07384MNL2 SUB 5.~~92737~~93800% ~~856~~745,~~932~~845.4284 43,~~232~~612.7932 2939,~~903~~689.5298 B-6 07384MNN8 SUB 5.~~92737~~93800% ~~857~~746,~~127~~015.0928 43,~~233~~613.7514 2939,~~910~~699.3100 R-I 07384MMZ2 SEN 5.~~64053~~64129% 0.00 0.00 0.00 R-II 07384MNA6 SEN 5.~~64053~~64129% 0.00 0.00 0.00 Totals ~~120~~90,~~230~~879,~~893~~397.09 ~~592~~438,~~528~~742.5871 79,~~650~~236,~~908~~448.5601

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 1711,~~892~~764,~~162~~901.9746 1,~~392~~459,~~685~~893.6599 0.00 II-A 0.00 75,~~211~~588,~~792~~389.8829 133,~~819,911~~469.5315 0.00 III-A 0.00 96,~~433~~861,~~805~~290.5017 ~~978~~354,~~699~~748.7837 0.00 IV-A 0.00 21,~~595~~894,~~453~~257.4442 ~~850~~318,~~204~~068.9629 0.00 V-A-1 0.00 96,~~942~~753,~~175~~871.2438 ~~386~~1,~~526~~675,308.8223 0.00 V-A-2 0.00 2014,~~855~~167,~~857~~702.2412 ~~819~~3,~~721~~521,428.5844 0.00 V-X 0.00 0.00 43,~~241~~388.8547 0.00 VI-A 0.00 1713,~~665~~133,~~173~~380.5186 ~~450~~666,~~597~~219.0963 0.00 VI-X 0.00 0.00 75,~~197~~366.7096 0.00 VII-A 0.00 1310,~~544~~003,~~006~~835.4630 ~~971~~927,~~131~~876.8158 0.00 VII-X 0.00 0.00 75,~~789~~742.3546 0.00 B-1 0.00 54,~~168~~413,~~900~~448.6252 ~~213~~270,~~350~~637.7285 0.00 B-2 0.00 3,~~515~~001,~~022~~290.6534 ~~145~~184,~~085~~042.5265 0.00 B-3 0.00 21,~~067~~765,~~572~~389.2464 85108,~~340~~255.7876 0.00 B-4 0.00 1882,~~033,816~~720.0941 4254,~~671~~129.6345 0.00 B-5 0.00 ~~827~~706,~~028~~155.8986 3443,~~136~~302.3130 0.00 B-6 0.00 ~~827~~706,~~216~~316.7828 3443,~~144~~312.0614 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 ~~112~~81,~~579~~642,~~984~~949.5105 89,~~243~~675,~~437~~190.1472 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 129,498,400.00 1913,~~196~~165,~~105~~073.8925 2216,~~822~~368.1247 1,~~281~~383,~~120~~803.8031 0.00 0.00 II-A 59,280,900.00 85,~~988~~595,~~231~~522.7345 106,~~387~~666.6780 ~~1,766,051~~466.1836 0.00 0.00 III-A 30,541,200.00 107,~~360~~181,~~563~~218.7533 53,~~151~~377.2046 ~~921~~316,~~607~~550.0569 0.00 0.00 IV-A 46,458,500.00 32,~~427~~200,~~011~~311.1550 43,~~837~~510.2982 ~~826~~302,~~720~~543.4226 0.00 0.00 V-A-1 70,000,000.00 108,~~283~~392,~~267~~683.1695 1211,~~603~~025.9585 ~~328~~1,~~487~~627,786.9772 0.00 0.00 V-A-2 146,840,100.00 2117,~~571~~605,~~371~~465.1100 2623,~~439~~129.5010 ~~689~~3,~~074~~414,633.3778 0.00 0.00 V-X 0.00 0.00 0.00 0.00 0.00 0.00 VI-A 73,744,800.00 1813,~~031~~737,~~828~~121.3859 1,~~187~~199.2719 ~~365~~602,~~467~~541.6054 0.00 0.00 VI-X 0.00 0.00 0.00 0.00 0.00 0.00 VII-A 111,119,500.00 1410,~~447~~881,~~012~~701.2251 1510,~~892~~812.4595 ~~887~~867,~~113~~053.3126 0.00 0.00 VII-X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 8,623,700.00 54,~~355~~661,~~796~~509.5549 54,~~459~~924.3524 ~~181~~243,~~436~~136.5873 0.00 0.00 B-2 5,864,400.00 3,~~642~~169,~~118~~979.0397 3,~~712~~348.5464 ~~123~~165,~~382~~340.8598 0.00 0.00 B-3 3,449,500.00 21,~~142~~864,~~331~~614.0460 21,~~183~~969.7571 7297,~~575~~255.0526 0.00 0.00 B-4 1,724,800.00 1932,~~071,196~~334.5733 ~~1,091~~984.9188 3648,~~288~~629.5804 0.00 0.00 B-5 1,379,800.00 ~~856~~745,~~932~~845.4284 ~~873~~787.5088 2938,~~030~~902.0210 0.00 0.00 B-6 1,380,114.00 ~~857~~746,~~127~~015.0928 ~~873~~788.7006 2938,~~036~~910.6294 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 689,905,814.00 ~~120~~90,~~230~~879,~~893~~397.09 ~~113~~88,~~516~~894.2005 79,~~537~~147,~~392~~553.4097 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 1,~~303~~400,~~942~~171.9278 1711,~~892~~764,~~162~~901.9746 0.~~13816513~~09084978 1,~~303~~400,~~942~~171.9278 II-A 17,~~776,438~~133.8516 75,~~211~~588,~~792~~389.8829 0.~~12165458~~09426964 17,~~776,438~~133.8516 III-A ~~926~~319,~~758~~928.2515 96,~~433~~861,~~805~~290.5017 0.~~30888785~~22465686 ~~926~~319,~~758~~928.2515 IV-A ~~831~~306,~~557~~054.7107 21,~~595~~894,~~453~~257.4442 0.~~05586606~~04077311 ~~831~~306,~~557~~054.7107 V-A-1 ~~341~~1,~~091~~638,812.9157 96,~~942~~753,~~175~~871.2438 0.~~14203107~~09648388 ~~341~~1,~~091~~638,812.9157 V-A-2 ~~715~~3,~~513~~437,762.8788 2014,~~855~~167,~~857~~702.2412 0.~~14203107~~09648388 ~~715~~3,~~513~~437,762.8788 V-X 0.00 0.00 0.00000000 0.00 VI-A ~~366~~603,~~654~~740.8773 1713,~~665~~133,~~173~~380.5186 0.~~23954467~~17809230 ~~366~~603,~~654~~740.8773 VI-X 0.00 0.00 0.00000000 0.00 VII-A ~~903~~877,~~005~~866.7621 1310,~~544~~003,~~006~~835.4630 0.~~12188686~~09002772 ~~903~~877,~~005~~866.7621 VII-X 0.00 0.00 0.00000000 0.00 B-1 ~~186~~248,~~895~~060.9297 54,~~168~~413,~~900~~448.6252 0.~~59938317~~51178131 ~~186~~248,~~895~~060.9297 B-2 ~~127~~168,~~095~~689.3863 3,~~515~~001,~~022~~290.6534 0.~~59938317~~51178131 ~~127~~168,~~095~~689.3863 B-3 7499,~~758~~224.8096 21,~~067~~765,~~572~~389.2464 0.~~59938317~~51178131 7499,~~758~~224.8096 B-4 3749,~~380~~613.4992 1882,~~033,816~~720.0941 0.~~59938317~~51178131 3749,~~380~~613.4992 B-5 2939,~~903~~689.5298 ~~827~~706,~~028~~155.8986 0.~~59938316~~51178132 2939,~~903~~689.5298 B-6 2939,~~910~~699.3100 ~~827~~706,~~216~~316.7828 0.~~59938294~~51178111 2939,~~910~~699.3100 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 79,~~650~~236,~~908~~448.5601 ~~112~~81,~~579~~642,~~984~~949.5105 0.~~16318167~~11833927 79,~~650~~236,~~908~~448.5601

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 129,498,400.00 ~~148~~101.~~23430938~~66205335 0.~~17623476~~12639901 910.~~89294694~~68587187 0.00000000 II-A 59,280,900.00 ~~151~~94.~~62104034~~38997131 0.~~17522794~~11246118 290.~~79123428~~00786695 0.00000000 III-A 30,541,200.00 ~~339~~235.~~23237299~~13216016 0.~~16866397~~11058701 3010.~~17586244~~36471029 0.00000000 IV-A 46,458,500.00 7347.~~76499779~~36079512 0.~~10412067~~07556895 176.~~79481516~~51211856 0.00000000 V-A-1 70,000,000.00 ~~146~~119.~~90381657~~89548500 0.~~18005643~~15751214 423.~~69268529~~25409600 0.00000000 V-A-2 146,840,100.00 ~~146~~119.~~90381653~~89548495 0.~~18005640~~15751215 423.~~69268524~~25409599 0.00000000 V-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 VI-A 73,744,800.00 ~~244~~186.~~51660836~~27918972 0.~~01609971~~01626135 48.~~95584231~~17063088 0.00000000 VI-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 VII-A 111,119,500.00 ~~130~~97.~~01329398~~92792003 0.~~14302125~~09730920 7.~~98341704~~80289022 0.00000000 VII-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,623,700.00 ~~621~~540.~~05552721~~54634206 0.~~63306353~~57101244 2128.~~03929636~~19401533 0.00000000 B-2 5,864,400.00 ~~621~~540.~~05552657~~54634234 0.~~63306391~~57101153 2128.~~03929643~~19401473 0.00000000 B-3 3,449,500.00 ~~621~~540.~~05552689~~54634005 0.~~63306276~~57101319 2128.~~03929555~~19401652 0.00000000 B-4 1,724,800.00 ~~621~~540.~~05552528~~54634160 0.~~63306470~~57101113 2128.~~03929731~~19401670 0.00000000 B-5 1,379,800.00 ~~621~~540.~~05552979~~54634005 0.~~63306276~~57101029 2128.~~03929555~~19401363 0.00000000 B-6 1,380,114.00 ~~621~~540.~~05528239~~54612880 0.~~63306365~~57101080 2128.~~03929096~~19400426 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

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 10.~~06918170~~81227089 ~~138~~90.~~16512768~~84978239 0.~~13816513~~09084978 10.~~06918170~~81227089 II-A 0.00000000 290.~~96646222~~12032813 ~~121~~94.~~65457812~~26964317 0.~~12165458~~09426964 290.~~96646222~~12032813 III-A 0.00000000 3010.~~34452641~~47529730 ~~308~~224.~~88784658~~65686253 0.~~30888785~~22465686 3010.~~34452641~~47529730 IV-A 0.00000000 176.~~89893582~~58768729 5540.~~86606197~~77310761 0.~~05586606~~04077311 176.~~89893582~~58768729 V-A-1 0.00000000 423.~~87274157~~41160814 ~~142~~96.~~03107486~~48387686 0.~~14203107~~09648388 423.~~87274157~~41160814 V-A-2 0.00000000 423.~~87274164~~41160814 ~~142~~96.~~03107489~~48387682 0.~~14203107~~09648388 423.~~87274164~~41160814 V-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 VI-A 0.00000000 48.~~97194202~~18689223 ~~239~~178.~~54466634~~09229749 0.~~23954467~~17809230 48.~~97194202~~18689223 VI-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 VII-A 0.00000000 87.~~12643829~~90019942 ~~121~~90.~~88685568~~02772061 0.~~12188686~~09002772 87.~~12643829~~90019942 VII-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 2128.~~67235873~~76502777 ~~599~~511.~~38316732~~78131429 0.~~59938317~~51178131 2128.~~67235873~~76502777 B-2 0.00000000 2128.~~67235864~~76502797 ~~599~~511.~~38316793~~78131437 0.~~59938317~~51178131 2128.~~67235864~~76502797 B-3 0.00000000 2128.~~67235831~~76502682 ~~599~~511.~~38316858~~78131323 0.~~59938317~~51178131 2128.~~67235831~~76502682 B-4 0.00000000 2128.~~67236201~~76502783 ~~599~~511.~~38316906~~78131378 0.~~59938317~~51178131 2128.~~67236201~~76502783 B-5 0.00000000 2128.~~67235831~~76502392 ~~599~~511.~~38316423~~78131613 0.~~59938316~~51178132 2128.~~67235831~~76502392 B-6 0.00000000 2128.~~67234736~~76501506 ~~599~~511.~~38293503~~78111373 0.~~59938294~~51178111 2128.~~67234736~~76501506 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 129,498,400.00 5.~~54755~~56180% 1913,~~196~~165,~~105~~073.8925 8861,~~742~~017.7395 0.00 0.00 II-A 59,280,900.00 5.~~80395~~77048% 85,~~988~~595,~~231~~522.7345 4326,~~472~~907.6838 0.00 0.00 III-A 30,541,200.00 65.~~01607~~94479% 107,~~360~~181,~~563~~218.7533 5135,~~941~~575.5368 0.00 0.00 IV-A 46,458,500.00 6.~~52951~~69445% 32,~~427~~200,~~011~~311.1550 1812,~~647~~274.2589 0.00 0.00 V-A-1 70,000,000.00 5.~~30200~~33143% 108,~~283~~392,~~267~~683.1695 4537,~~434~~287.9148 0.00 0.00 V-A-2 146,840,100.00 5.~~79700~~82643% 2117,~~571~~605,~~371~~465.1100 ~~104~~85,~~207~~480.7179 0.00 0.00 V-X 0.00 0.49500% 108,~~283~~392,~~267~~683.1695 43,~~241~~461.8598 0.00 0.00 VI-A 73,744,800.00 5.~~58627~~57623% 1813,~~031~~737,~~828~~121.3859 8363,~~942~~834.2345 0.00 0.00 VI-X 0.00 0.47900% 1813,~~031~~737,~~828~~121.3859 75,~~197~~483.7040 0.00 0.00 VII-A 111,119,500.00 5.~~65870~~63464% 1410,~~447~~881,~~012~~701.2251 6851,~~126~~095.0541 0.00 0.00 VII-X 0.00 0.64700% 1410,~~447~~881,~~012~~701.2251 75,~~789~~867.3505 0.00 0.00 B-1 8,623,700.00 5.~~92737~~93800% 54,~~355~~661,~~796~~509.5549 2623,~~454~~066.8071 0.00 0.00 B-2 5,864,400.00 5.~~92737~~93800% 3,~~642~~169,~~118~~979.0397 1715,~~990~~686.1412 0.00 0.00 B-3 3,449,500.00 5.~~92737~~93800% 21,~~142~~864,~~331~~614.0460 109,~~581~~226.9874 0.00 0.00 B-4 1,724,800.00 5.~~92737~~93800% 1932,~~071,196~~334.5733 54,~~291~~613.1450 0.00 0.00 B-5 1,379,800.00 5.~~92737~~93800% ~~856~~745,~~932~~845.4284 43,~~232~~690.7969 0.00 0.00 B-6 1,380,114.00 5.~~92737~~93800% ~~857~~746,~~127~~015.0928 43,~~233~~691.7553 0.00 0.00 R-I 50.00 5.~~64053~~64129% 0.00 0.00 0.00 0.00 R-II 50.00 5.~~64053~~64129% 0.00 0.00 0.00 0.00 Totals 689,905,814.00 ~~592~~448,~~528~~261.5975 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 01,295.0075 0.00 8859,~~742~~722.7321 0.00 1711,~~892~~764,~~162~~901.9746 II-A 0571.0039 0.00 4326,~~472~~335.6899 0.00 75,~~211~~588,~~792~~389.8829 III-A 0755.0047 0.00 5134,~~941~~820.5322 0.00 96,~~433~~861,~~805~~290.5017 IV-A 0260.0066 0.00 1812,~~647~~014.2522 0.00 21,~~595~~894,~~453~~257.4442 V-A-1 0791.0082 0.00 4536,~~434~~495.9166 0.00 96,~~942~~753,~~175~~871.2438 V-A-2 01,815.0023 0.00 ~~104~~83,~~207~~665.7156 0.00 2014,~~855~~167,~~857~~702.2412 V-X 073.0052 0.00 43,~~241~~388.8547 0.00 96,~~942~~753,~~175~~871.2438 VI-A 01,355.0056 0.00 8362,~~942~~478.2290 0.00 1713,~~665~~133,~~173~~380.5186 VI-X 0116.0044 0.00 75,~~197~~366.7096 0.00 1713,~~665~~133,~~173~~380.5186 VII-A 01,085.0004 0.00 6850,~~126~~010.0537 0.00 1310,~~544~~003,~~006~~835.4630 VII-X 0124.0059 0.00 75,~~789~~742.3546 0.00 1310,~~544~~003,~~006~~835.4630 B-1 0489.0083 0.00 2622,~~454~~576.8088 0.00 54,~~168~~413,~~900~~448.6252 B-2 0333.0010 0.00 1715,~~990~~353.1402 0.00 3,~~515~~001,~~022~~290.6534 B-3 0195.0093 0.00 109,~~581~~030.9880 0.00 21,~~067~~765,~~572~~389.2464 B-4 097.0097 0.00 54,~~291~~515.1453 0.00 1882,~~033,816~~720.0941 B-5 078.0037 0.00 43,~~232~~612.7932 0.00 ~~827~~706,~~028~~155.8986 B-6 078.0039 0.00 43,~~233~~613.7514 0.00 ~~827~~706,~~216~~316.7828 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 09,519.0006 0.00 ~~592~~438,~~528~~742.5871 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 129,498,400.00 5.~~54755~~56180% ~~148~~101.~~23430938~~66205335 0.~~68528051~~47118690 0.00000000 0.00000000 II-A 59,280,900.00 5.~~80395~~77048% ~~151~~94.~~62104034~~38997131 0.~~73333367~~45389628 0.00000000 0.00000000 III-A 30,541,200.00 65.~~01607~~94479% ~~339~~235.~~23237299~~13216016 1.~~70070364~~16484225 0.00000000 0.00000000 IV-A 46,458,500.00 6.~~52951~~69445% 7347.~~76499779~~36079512 0.~~40137434~~26421193 0.00000000 0.00000000 V-A-1 70,000,000.00 5.~~30200~~33143% ~~146~~119.~~90381657~~89548500 0.~~64907014~~53267829 0.00000000 0.00000000 V-A-2 146,840,100.00 5.~~79700~~82643% ~~146~~119.~~90381653~~89548495 0.~~70966793~~58213519 0.00000000 0.00000000 V-X 0.00 0.49500% ~~146~~119.~~90381657~~89548500 0.~~06059786~~04945686 0.00000000 0.00000000 VI-A 73,744,800.00 5.~~58627~~57623% ~~244~~186.~~51660836~~27918972 10.~~13827999~~86561290 0.00000000 0.00000000 VI-X 0.00 0.47900% ~~244~~186.~~51660836~~27918972 0.~~09760281~~07435643 0.00000000 0.00000000 VII-A 111,119,500.00 5.~~65870~~63464% ~~130~~97.~~01329398~~92792003 0.~~61308816~~45982397 0.00000000 0.00000000 VII-X 0.00 0.64700% ~~130~~97.~~01329398~~92792003 0.~~07009886~~05279946 0.00000000 0.00000000 B-1 8,623,700.00 5.~~92737~~93800% ~~621~~540.~~05552721~~54634206 32.~~06768556~~67480432 0.00000000 0.00000000 B-2 5,864,400.00 5.~~92737~~93800% ~~621~~540.~~05552657~~54634234 32.~~06768638~~67480390 0.00000000 0.00000000 B-3 3,449,500.00 5.~~92737~~93800% ~~621~~540.~~05552689~~54634005 32.~~06768517~~67480504 0.00000000 0.00000000 B-4 1,724,800.00 5.~~92737~~93800% ~~621~~540.~~05552528~~54634160 32.~~06768321~~67480288 0.00000000 0.00000000 B-5 1,379,800.00 5.~~92737~~93800% ~~621~~540.~~05552979~~54634005 32.~~06768372~~67480070 0.00000000 0.00000000 B-6 1,380,114.00 5.~~92737~~93800% ~~621~~540.~~05528239~~54612880 32.~~06768137~~67480078 0.00000000 0.00000000 R-I 50.00 5.~~64053~~64129% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 5.~~64053~~64129% 0.00000000 0.00000000 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.~~00000000~~01000592 0.00000000 0.~~68528051~~46118106 0.00000000 ~~138~~90.~~16512768~~84978239 II-A 0.~~00000000~~00963869 0.00000000 0.~~73333367~~44425759 0.00000000 ~~121~~94.~~65457812~~26964317 III-A 0.~~00000000~~02473609 0.00000000 1.~~70070364~~14010648 0.00000000 ~~308~~224.~~88784658~~65686253 IV-A 0.~~00000000~~00561060 0.00000000 0.~~40137434~~25860112 0.00000000 5540.~~86606197~~77310761 V-A-1 0.~~00000000~~01131171 0.00000000 0.~~64907014~~52136657 0.00000000 ~~142~~96.~~03107486~~48387686 V-A-2 0.~~00000000~~01236195 0.00000000 0.~~70966793~~56977324 0.00000000 ~~142~~96.~~03107489~~48387682 V-X 0.~~00000000~~00105029 0.00000000 0.~~06059786~~04840671 0.00000000 ~~142~~96.~~03107486~~48387686 VI-A 0.~~00000000~~01838177 0.00000000 10.~~13827985~~84723126 0.00000000 ~~239~~178.~~54466634~~09229749 VI-X 0.~~00000000~~00157896 0.00000000 0.~~09760281~~07277747 0.00000000 ~~239~~178.~~54466634~~09229749 VII-A 0.~~00000000~~00976462 0.00000000 0.~~61308816~~45005935 0.00000000 ~~121~~90.~~88685568~~02772061 VII-X 0.~~00000000~~00112123 0.00000000 0.~~07009886~~05167824 0.00000000 ~~121~~90.~~88685568~~02772061 B-1 0.~~00000000~~05680045 0.00000000 32.~~06768556~~61800387 0.00000000 ~~599~~511.~~38316732~~78131429 B-2 0.~~00000000~~05680035 0.00000000 32.~~06768638~~61800355 0.00000000 ~~599~~511.~~38316793~~78131437 B-3 0.~~00000000~~05679954 0.00000000 32.~~06768517~~61800261 0.00000000 ~~599~~511.~~38316858~~78131323 B-4 0.~~00000000~~05680079 0.00000000 32.~~06768321~~61800209 0.00000000 ~~599~~511.~~38316906~~78131378 B-5 0.~~00000000~~05679809 0.00000000 32.~~06768372~~61800261 0.00000000 ~~599~~511.~~38316423~~78131613 B-6 0.~~00000000~~05679966 0.00000000 32.~~06768137~~61800112 0.00000000 ~~599~~511.~~38293503~~78111373 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 89,~~263~~704,~~259~~786.1294 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3113,~~090~~174.1190 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 89,~~294~~717,~~349~~961.2384 Withdrawals Reimbursement for Servicer Advances 19,~~407~~081.9571 Payment of Service Fee 3123,~~504~~689.1139 Payment of Interest and Principal 89,~~243~~675,~~437~~190.1774 Total Withdrawals (Pool Distribution Amount) 89,~~294~~717,~~349~~961.2384 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 09,519.0006 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 09,519.0006

SERVICING FEES Gross Servicing Fee 3123,~~504~~689.1139 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3123,~~504~~689.1139

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 83 0 0 0 8 3 1,~~939~~007,~~192~~484.9788 0.00 0.00 0.00 31,~~939~~007,~~192~~484.9788 60 Days 21 0 0 0 21 ~~819~~332,~~790~~644.6005 0.00 0.00 0.00 ~~819~~332,~~790~~644.6005 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0369,860.0001 0.00 0.00 0.00 0369,860.0001 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 1 0 1 1 0.00 0.00 0.00 496,117.44 ~~0.00~~ 496,117.44 Totals 105 0 1 0 111 46 1,~~758~~709,~~983~~988.5794 0.00 0.00 496,117.44 ~~0.00 5~~2,~~255~~206,~~101~~106.0138 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~614379~~310044% 0.000000% 0.000000% 0.000000% 21.~~614379~~310044% 31.~~496209~~233089% 0.000000% 0.000000% 0.000000% 31.~~496209~~233089% 60 Days 0.~~653595~~436681% 0.000000% 0.000000% 0.000000% 0.~~653595~~436681% 0.~~727601~~407132% 0.000000% 0.000000% 0.000000% 0.~~727601~~407132% 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~~436681% 0.000000% 0.000000% 0.000000% 0.~~000000~~436681% 0.~~000000~~452682% 0.000000% 0.000000% 0.000000% 0.~~000000~~452682% 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.~~326797~~000000% 0.~~000000~~436681% 0.~~326797~~436681% 0.000000% 0.000000% 0.~~440326~~000000% 0.~~000000~~607212% 0.~~440326~~607212% Totals 32.~~267974~~183406% 0.000000% 0.~~326797~~000000% 0.~~000000~~436681% 32.~~594771~~620087% 42.~~223809~~092903% 0.000000% 0.~~440326~~000000% 0.~~000000~~607212% 42.~~664136~~700115%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 ~~820,373~~0.1100 0.00 0.00 0.00 ~~820,373~~0.1100 60 Days 10 0 0 0 10 ~~370,676~~0.5000 0.00 0.00 0.00 ~~370,676~~0.5000 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0369,860.0001 0.00 0.00 0.00 0369,860.0001 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 1 0 1 1 0.00 0.00 0.00 496,117.44 ~~0.00~~ 496,117.44 Totals 21 0 1 0 3 1 2 369,~~191,049~~860.6101 0.00 0.00 496,117.44 ~~0.00 1~~865,~~687,167~~977.0545 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~564103~~000000% 0.000000% 0.000000% 0.000000% 20.~~564103~~000000% 40.~~034538~~000000% 0.000000% 0.000000% 0.000000% 40.~~034538~~000000% 60 Days 20.~~564103~~000000% 0.000000% 0.000000% 0.000000% 20.~~564103~~000000% 10.~~822962~~000000% 0.000000% 0.000000% 0.000000% 10.~~822962~~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 03.~~000000~~571429% 0.000000% 0.000000% 0.000000% 03.~~000000~~571429% 02.~~000000~~683663% 0.000000% 0.000000% 0.000000% 02.~~000000~~683663% 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% 20.~~564103~~000000% 03.~~000000~~571429% 23.~~564103~~571429% 0.000000% 0.000000% 20.~~439871~~000000% 03.~~000000~~599772% 23.~~439871~~599772% Totals 53.~~128205~~571429% 0.000000% 20.~~564103~~000000% 03.~~000000~~571429% 7.~~692308~~142857% 52.~~857500~~683663% 0.000000% 20.~~439871~~000000% 03.~~000000~~599772% 86.~~297371~~283435% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 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% 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 21 0 0 0 21 ~~611~~538,~~240~~949.4484 0.00 0.00 0.00 ~~611~~538,~~240~~949.4484 60 Days 01 0 0 0 01 0332,644.0005 0.00 0.00 0.00 0332,644.0005 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 0 0 0 2 ~~611~~871,~~240~~593.4489 0.00 0.00 0.00 ~~611~~871,~~240~~593.4489 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 42.~~166667~~777778% 0.000000% 0.000000% 0.000000% 42.~~166667~~777778% 57.~~990776~~163484% 0.000000% 0.000000% 0.000000% 57.~~990776~~163484% 60 Days 02.~~000000~~777778% 0.000000% 0.000000% 0.000000% 02.~~000000~~777778% 04.~~000000~~421358% 0.000000% 0.000000% 0.000000% 04.~~000000~~421358% 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 45.~~166667~~555556% 0.000000% 0.000000% 0.000000% 45.~~166667~~555556% 511.~~990776~~584842% 0.000000% 0.000000% 0.000000% 511.~~990776~~584842% 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 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% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 21 0 0 0 21 ~~811~~130,~~730~~729.3108 0.00 0.00 0.00 ~~811~~130,~~730~~729.3108 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 21 0 0 0 21 ~~811~~130,~~730~~729.3108 0.00 0.00 0.00 ~~811~~130,~~730~~729.3108 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~222222~~562500% 0.000000% 0.000000% 0.000000% 21.~~222222~~562500% 20.~~301122~~529856% 0.000000% 0.000000% 0.000000% 20.~~301122~~529856% 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 21.~~222222~~562500% 0.000000% 0.000000% 0.000000% 21.~~222222~~562500% 20.~~301122~~529856% 0.000000% 0.000000% 0.000000% 20.~~301122~~529856% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 6 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 20 0 0 0 20 ~~1,299,767~~0.2100 0.00 0.00 0.00 ~~1,299,767~~0.2100 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 20 0 0 0 20 ~~1,299,767~~0.2100 0.00 0.00 0.00 ~~1,299,767~~0.2100 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 30.~~225806~~000000% 0.000000% 0.000000% 0.000000% 30.~~225806~~000000% 60.~~709608~~000000% 0.000000% 0.000000% 0.000000% 60.~~709608~~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 30.~~225806~~000000% 0.000000% 0.000000% 0.000000% 30.~~225806~~000000% 60.~~709608~~000000% 0.000000% 0.000000% 0.000000% 60.~~709608~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 7 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 1 0 0 0 1 ~~396~~337,~~081~~805.9096 0.00 0.00 0.00 ~~396~~337,~~081~~805.9096 60 Days 10 0 0 0 10 ~~449,114~~0.1000 0.00 0.00 0.00 ~~449,114~~0.1000 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 21 0 0 0 21 ~~845~~337,~~196~~805.0096 0.00 0.00 0.00 ~~845~~337,~~196~~805.0096 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 23.~~564103~~571429% 0.000000% 0.000000% 0.000000% 23.~~564103~~571429% 2.~~519342~~839779% 0.000000% 0.000000% 0.000000% 2.~~519342~~839779% 60 Days 20.~~564103~~000000% 0.000000% 0.000000% 0.000000% 20.~~564103~~000000% 20.~~856662~~000000% 0.000000% 0.000000% 0.000000% 20.~~856662~~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 53.~~128205~~571429% 0.000000% 0.000000% 0.000000% 53.~~128205~~571429% 52.~~376005~~839779% 0.000000% 0.000000% 0.000000% 52.~~376005~~839779%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3113,~~090~~174.1190

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 560,407,414.00 81.22955375% 9469,~~687~~878,~~821~~047.5459 8485.~~10715453~~58981321% 1514.~~892845~~410187% 0.000000% Class 2A 501,126,514.00 72.63694606% 8764,~~476~~289,~~028~~658.6630 7778.~~70122641~~74489965% 6.~~405928~~844914% 5348.~~660941~~699198% Class 3A 470,585,314.00 68.21008092% 7857,~~042~~428,~~223~~368.1613 6970.~~32157923~~34087916% 8.~~379647~~404020% 7059.~~194317~~791706% Class B-1 13,798,714.00 2.00008664% 87,~~270~~061,~~656~~872.6553 78.~~34647165~~64970290% 45.~~591314~~405793% 38.460349% Class B-2 7,934,314.00 1.15005756% 4,~~755~~060,~~634~~582.0019 4.~~22422691~~97358588% 3.~~122245~~676117% 26.154304% Class B-3 4,484,814.00 0.65006178% 2,~~688~~295,~~061~~192.7655 2.~~38769065~~81125630% 12.~~836536~~162330% 15.384229% Class B-4 2,760,014.00 0.40005664% 1,~~654~~412,~~245~~472.6714 1.~~46939589~~73006017% 01.~~918295~~081196% 7.692337% Class B-5 1,380,214.00 0.20005832% ~~827~~706,~~216~~316.7828 0.~~73478139~~86512833% 0.~~734614~~864932% 6.~~153691~~153692% Class B-6 100.00 0.00001449% 0.00 0.00000000% 0.~~734781~~865128% 6.~~155090~~155089% Class R-I 50.00 0.00000725% 0.00 0.00000000% 0.000000% 0.000000% Class R-II 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~228343~~231791% Weighted Average Net Coupon 5.~~913907~~918989% Weighted Average Pass-Through Rate 5.~~913907~~918989% Weighted Average Maturity(Stepdown Calculation ) ~~336~~332 Beginning Scheduled Collateral Loan Count ~~325~~252 Number Of Loans Paid In Full 1923 Ending Scheduled Collateral Loan Count ~~306~~229 Beginning Scheduled Collateral Balance ~~120~~90,~~230~~879,~~893~~397.0908 Ending Scheduled Collateral Balance ~~112~~81,~~579~~642,~~984~~949.5105 Ending Actual Collateral Balance at 2930-~~Feb~~Jun-2004 ~~112~~81,~~670~~704,~~418~~148.9788 Monthly P &I Constant ~~737~~560,~~548~~845.8921 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 78,~~688~~979,~~708~~756.1404 Ending Scheduled Balance for Premium Loans ~~112~~81,~~579~~642,~~984~~949.5105 Scheduled Principal ~~113~~88,~~516~~894.1906 Unscheduled Principal 79,~~537~~147,~~392~~553.3997

Miscellaneous Reporting Average Loss Severity Group 1 0 Senior Percentage Group 1 8886.~~501289~~251442% Senior Prepayment Percentage Grp 1 9493.~~250645~~125721% Subordinate Percentage Group 1 1113.~~498711~~748558% Subordinate Prepayment Pct Group 1 56.~~749355~~874279% Average Loss Severity Group 2 0 Senior Percentage Group 2 8784.~~661042~~536889% Senior Prepayment Percentage Grp 2 9392.~~830521~~268444% Subordinate Percentage Group 2 1215.~~338958~~463111% Subordinate Prepayment Pct Group 2 67.~~169479~~731556% Average Loss Severity Group 3 0 Senior Percentage Group 3 9291.~~842069~~439732% Senior Prepayment Percentage Grp 3 9695.~~421034~~719866% Subordinate Percentage Group 3 78.~~157931~~560268% Subordinate Prepayment Pct Group 3 34.~~578966~~280134% Average Loss Severity Group 4 0 Senior Percentage Group 4 7974.~~258946~~706652% Senior Prepayment Percentage Grp 4 8987.~~629473~~353326% Subordinate Percentage Group 4 2025.~~741054~~293348% Subordinate Prepayment Pct Group 4 1012.~~370527~~646674% Average Loss Severity Group 5 0 Senior Percentage Group 5 8786.~~579844~~365344% Senior Prepayment Percentage Grp 5 93.~~789922~~182672% Subordinate Percentage Group 5 1213.~~420156~~634656% Subordinate Prepayment Pct Group 5 6.~~210078~~817328% Average Loss Severity Group 6 0 Senior Percentage Group 6 9190.~~281019~~043127% Senior Prepayment Percentage Grp 6 95.~~640510~~021563% Subordinate Percentage Group 6 89.~~718981~~956873% Subordinate Prepayment Pct Group 6 4.~~359490~~978437% Average Loss Severity Group 7 0 Senior Percentage Group 7 8684.~~624008~~752951% Senior Prepayment Percentage Grp 7 9392.~~312004~~376476% Subordinate Percentage Group 7 1315.~~375992~~247049% Subordinate Prepayment Pct Group 7 67.~~687996~~623524%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~918945~~931708 6.~~058437~~027404 6.~~334671~~268508 Weighted Average Net Rate 5.~~547546~~561803 5.~~803946~~770481 65.~~016066~~944787 Weighted Average Maturity ~~337~~333 ~~335~~331 ~~337~~333 Beginning Loan Count 4231 2416 5138 Loans Paid In Full 3 40 32 Ending Loan Count 3928 2016 4836 Beginning Scheduled Balance 2115,~~690~~263,~~199~~597.1376 106,~~253~~619,~~393~~030.6750 117,~~159~~853,~~341~~498.7586 Ending scheduled Balance 2013,~~305~~758,~~141~~668.7336 86,~~359~~610,~~372~~638.5180 107,~~197~~519,~~978~~099.0589 Record Date 0206/2930/2004 0206/2930/2004 0206/2930/2004 Principal And Interest Constant ~~132~~94,~~773~~426.2596 6341,~~616~~132.0957 6444,~~457~~718.3242 Scheduled Principal 2518,~~787~~977.3362 117,~~849~~886.8126 53,~~548~~693.3565 Unscheduled Principal 1,~~359~~485,~~270~~951.0778 ~~1,882,171~~505.3544 ~~955~~330,~~815~~705.3532 Scheduled Interest ~~106~~75,~~985~~449.9234 5133,~~766~~246.2831 5841,~~908~~024.9777 Servicing Fees 64,~~713~~705.1107 21,~~174~~417.4915 2,~~962~~118.8662 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 ~~100~~70,~~272~~744.8127 4931,~~591~~829.7916 5538,~~946~~906.1115 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 5.~~547546~~561803 5.~~803947~~770482 65.~~016067~~944788

Group Level Collateral Statement Group Group 4 Group 5 Group 6 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~779508~~944445 6.~~064213~~091651 6.~~432743~~420531 Weighted Average Net Rate 6.~~529507~~694444 5.~~797001~~826426 6.~~065271~~055230 Weighted Average Maturity ~~324~~320 ~~336~~332 ~~338~~334 Beginning Loan Count 107 9276 6454 Loans Paid In Full 21 212 23 Ending Loan Count 86 9064 6251 Beginning Scheduled Balance 42,~~323~~945,~~816~~268.1853 3630,~~372~~102,~~111~~524.0879 1915,~~754~~256,~~192~~157.6393 Ending scheduled Balance 32,~~395~~594,~~337~~224.4077 3524,~~242~~651,~~592~~649.8620 1914,~~370~~620,~~765~~715.5981 Record Date 0206/2930/2004 0206/2930/2004 0206/2930/2004 Principal And Interest Constant 3021,~~530~~743.9485 ~~228~~192,~~387~~358.2779 ~~107~~82,~~195~~958.3899 Scheduled Principal 64,~~103~~699.1547 4439,~~580~~547.4006 1,~~300~~331.6880 Unscheduled Principal ~~922~~346,~~375~~344.6329 15,~~084~~411,~~937~~328.8253 ~~382~~634,~~126~~110.3632 Scheduled Interest 2417,~~427~~044.7938 ~~183~~152,~~806~~811.8773 ~~105~~81,~~894~~627.7019 Servicing Fees ~~900~~613.8060 86,~~099~~653.2428 64,~~049~~644.2624 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 2316,~~526~~430.9978 ~~175~~146,~~707~~158.6345 9976,~~845~~982.4495 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 6.~~529508~~694445 5.~~797001~~826426 6.~~065271~~055230

Group Level Collateral Statement Group Group 7 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~636987~~612260 6.~~228343~~231791 Weighted Average Net Rate 6.~~305696~~281642 5.~~913907~~918989 Weighted Average Maturity ~~337~~333.00 ~~336~~332.00 Record Date 0206/2930/2004 0206/2930/2004 Principal And Interest Constant ~~110~~83,~~588~~505.6463 ~~737~~560,~~548~~845.8921 Beginning Loan Count 4230 ~~325~~252 Loans Paid In Full 32 1923 Ending Loan Count 3928 ~~306~~229 Beginning Scheduled Balance 1612,~~677~~839,~~838~~318.6571 ~~120~~90,~~230~~879,~~893~~397.0908 Ending Scheduled Balance 1511,~~708~~887,~~796~~952.3722 ~~112~~81,~~579~~642,~~984~~949.5105 Scheduled Principal 1812,~~346~~758.4720 ~~113~~88,~~516~~894.1906 Unscheduled Principal ~~950~~938,~~695~~608.8129 79,~~537~~147,~~392~~553.3997 Scheduled Interest 9270,~~242~~747.1743 ~~624~~471,~~032~~951.7015 Servicing Fee 43,~~604~~537.3543 3123,~~504~~689.1139 Master Servicing Fee 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 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 8767,~~637~~210.8200 ~~592~~448,~~528~~261.5976 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 6.~~305697~~281642 5.~~913907~~918989

Filing Compare · BEAR STEARNS ARM TRUST 2002-7