8-K 1 bst03003_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 2003-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-29 90-0175114 Pooling and Servicing Agreement) (Commission 90-0175118 (State or other File Number) 90-0175344 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On July 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-3 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 2003-3 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 2003-3 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 2003-3 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: 2003-3 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-1 07384MUG5 SEN 3.~~53657~~51282% 21,~~856~~857,~~992~~301.7388 85,~~415~~423.7619 ~~246~~163,~~012~~464.0818 I-X-A-1 07384MUH3 SEN 0.87100% 0.00 21,~~072~~344.6768 0.00 I-A-2 07384MUJ9 SEN 4.~~40757~~38382% 1711,~~964~~678,~~203~~345.6785 6542,~~949~~555.1801 1,~~546~~027,~~875~~830.1633 R-I 07384MUT7 SEN 4.~~53989~~54384% 0.00 0.00 0.00 R-II 07384MUU4 SEN 4.~~53989~~54384% 0.00 0.00 0.00 R-III 07384MUV2 SEN 4.~~53989~~54384% 0.00 0.00 0.00 II-A-1 07384MUL4 SEN 4.~~26627~~24338% 139,~~591~~808,~~807~~559.3705 4834,~~297~~596.8563 ~~638~~688,~~224~~745.6415 II-X-A-1 07384MUZ3 SEN 0.84300% 0.00 96,~~543~~873.4905 0.00 II-A-2 07384MUM2 SEN 4.~~19627~~17338% 7655,~~657~~320,~~793~~273.5503 ~~267~~191,~~930~~906.4216 3,~~599~~884,~~586~~522.9963 II-X-A-2 07384MUN0 SEN 0.91300% 0.00 5841,~~294~~982.7884 0.00 II-A-3 07384MUK6 SEN 4.~~23627~~21338% 1611,~~310~~770,~~168~~270.8486 5741,~~549~~222.8744 ~~765~~826,~~869~~494.5718 II-X-A-3 07384MUQ3 SEN 0.87300% 0.00 118,~~859~~541.7417 0.00 II-A-4 07384MVA7 SEN 3.52600% 2921,~~965~~624,~~748~~851.9766 8863,~~005~~379.5498 1,~~407~~518,~~088~~470.7792 II-X-A-4 07384MVB5 SEN 1.~~58327~~56038% 0.00 3928,~~516~~047.8289 0.00 III-A-1 07384MUP5 SEN 5.~~17043~~15098% ~~118~~87,~~329~~564,~~723~~045.8075 ~~509~~374,~~592~~914.6063 76,~~286~~342,~~186~~726.8219 III-A-2 07384MUR1 SEN 4.~~52343~~50398% 9167,~~720~~873,~~858~~474.5418 ~~345~~254,~~572~~105.0302 54,~~647~~916,~~738~~434.2812 III-X-A-2 07384MVE9 SEN 0.64700% 0.00 4936,~~428~~502.2237 0.00 III-A-3 07384MVC3 SEN 4.~~03543~~01598% 9369,~~715~~349,~~771~~710.8890 ~~314~~231,~~996~~501.0602 5,~~770~~023,~~575~~365.6474 III-X-A-3 07384MVD1 SEN 1.13500% 0.00 8865,~~595~~427.3903 0.00 IV-A-1 07384MUS9 SEN 5.~~63489~~60959% 5542,~~110~~886,~~854~~215.3093 ~~258~~199,~~657~~970.6244 21,~~124~~296,~~640~~902.5371 B-1 07384MUW0 SUB 5.~~16838~~14653% 8,~~894~~543,~~218~~624.9244 3836,~~288~~548.2080 8286,~~357~~309.9959 B-2 07384MUX8 SUB 5.~~16838~~14653% 76,~~115~~834,~~434~~956.6067 3029,~~630~~239.8229 6229,~~686~~049.4559 B-3 07384MUY6 SUB 5.~~16838~~14653% 4,~~891~~698,~~780~~955.7736 2120,~~058~~101.3468 4157,~~596~~469.8600 B-4 07384MVF6 SUB 5.~~16838~~14653% 2,~~223~~135,~~554~~906.7311 9,~~572~~137.0520 271,~~089~~577.5040 B-5 07384MVG4 SUB 5.~~16838~~14653% 1,~~334~~281,~~212~~619.1282 5,~~743~~482.5765 142,~~253~~948.7799 B-6 07384MVH2 SUB 5.~~16838~~14653% 1,~~778~~708,~~990~~865.5587 7,~~658~~310.2736 157,~~671~~266.7464 Totals ~~542~~404,~~462~~936,~~115~~977.3436 21,~~337~~736,~~229~~113.2953 2926,~~057~~533,~~454~~577.7936

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 21,~~610~~693,~~980~~837.6670 ~~254~~168,~~427~~887.8437 0.00 I-X-A-1 0.00 0.00 21,~~072~~344.6768 0.00 I-A-2 0.00 1610,~~417~~650,~~328~~515.5152 1,~~612~~070,~~824~~385.34 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 II-A-1 0.00 129,~~953~~119,~~582~~813.7290 ~~686~~723,~~522~~341.4978 0.00 II-X-A-1 0.00 0.00 96,~~543~~873.4905 0.00 II-A-2 0.00 7351,~~058~~435,~~206~~750.5640 34,~~867~~076,~~517~~428.4179 0.00 II-X-A-2 0.00 0.00 5841,~~294~~982.7884 0.00 II-A-3 0.00 1510,~~544~~943,~~299~~776.2768 ~~823~~867,~~419~~716.4462 0.00 II-X-A-3 0.00 0.00 118,~~859~~541.7417 0.00 II-A-4 0.00 2820,~~558~~106,~~660~~380.2075 1,~~495~~581,~~094~~850.3190 0.00 II-X-A-4 0.00 0.00 3928,~~516~~047.8289 0.00 III-A-1 0.00 ~~111~~81,~~043~~221,~~536~~319.9856 76,~~795~~717,~~779~~640.4282 0.00 III-A-2 0.00 8662,~~073~~957,~~120~~040.2707 5,~~993~~170,~~310~~539.3114 0.00 III-X-A-2 0.00 0.00 4936,~~428~~502.2237 0.00 III-A-3 0.00 8764,~~945~~326,~~196~~345.2416 65,~~085~~254,~~571~~866.7076 0.00 III-X-A-3 0.00 0.00 8865,~~595~~427.3903 0.00 IV-A-1 0.00 5241,~~986~~589,~~213~~313.7722 21,~~383~~496,~~298~~873.15 0.00 B-1 0.00 8,~~885~~257,~~860~~314.9385 46322,~~646~~858.1939 0.00 B-2 0.00 76,~~108~~605,~~748~~907.1508 37258,~~317~~288.2788 0.00 B-3 0.00 4,~~887~~541,~~183~~486.9136 25177,~~655~~570.2068 0.00 B-4 0.00 2,~~221~~064,~~465~~328.2371 1180,~~661~~714.5560 0.00 B-5 0.00 1,~~332~~238,~~958~~670.3583 648,~~997~~431.3464 0.00 B-6 0.00 1,~~777~~651,~~318~~599.8223 964,~~330~~577.0100 0.00 Totals 0.00 ~~513~~378,~~404~~403,~~660~~400.5702 3128,~~394~~269,~~684~~690.0889 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-1 5,009,700.00 21,~~856~~857,~~992~~301.7388 43,~~420~~168.4499 ~~241~~160,~~591~~295.6418 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 I-A-2 31,500,000.00 1711,~~964~~678,~~203~~345.6785 2719,~~794~~926.8300 1,~~519~~007,~~080~~904.33 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 II-A-1 25,000,000.00 139,~~591~~808,~~807~~559.3705 1411,~~735~~219.1026 ~~623~~677,~~489~~525.5489 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 141,000,000.00 7655,~~657~~320,~~793~~273.5503 8363,~~105~~276.9761 3,~~516~~821,~~481~~246.0203 0.00 0.00 II-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 II-A-3 30,000,000.00 1611,~~310~~770,~~168~~270.8486 1713,~~682~~463.1211 ~~748~~813,~~187~~031.4507 0.00 0.00 II-X-A-3 0.00 0.00 0.00 0.00 0.00 0.00 II-A-4 55,117,300.00 2921,~~965~~624,~~748~~851.9766 3224,~~486~~735.3600 1,~~374~~493,~~602~~735.4191 0.00 0.00 II-X-A-4 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 192,871,000.00 ~~118~~87,~~329~~564,~~723~~045.8075 ~~111~~86,~~842~~864.9736 76,~~174~~255,~~343~~861.8583 0.00 0.00 III-A-2 149,500,000.00 9167,~~720~~873,~~858~~474.5418 8667,~~692~~331.7812 54,~~561~~849,~~045~~102.4999 0.00 0.00 III-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 III-A-3 152,751,600.00 9369,~~715~~349,~~771~~710.8890 8868,~~578~~795.3456 54,~~681~~954,~~997~~570.3017 0.00 0.00 III-X-A-3 0.00 0.00 0.00 0.00 0.00 0.00 IV-A-1 88,255,300.00 5542,~~110~~886,~~854~~215.3093 1310,~~957~~423.4554 21,~~110~~286,~~683~~479.0817 0.00 0.00 B-1 8,974,800.00 8,~~894~~543,~~218~~624.9244 8,~~357~~458.9985 0277,850.0075 0.00 0.00 B-2 7,179,900.00 76,~~115~~834,~~434~~956.6067 6,~~686~~767.4513 0222,282.0046 0.00 0.00 B-3 4,936,100.00 4,~~891~~698,~~780~~955.7736 4,~~596~~652.8633 0152,816.0067 0.00 0.00 B-4 2,243,700.00 2,~~223~~135,~~554~~906.7311 2,~~089~~114.5071 069,462.0069 0.00 0.00 B-5 1,346,300.00 1,~~334~~281,~~212~~619.1282 1,~~253~~268.7790 041,680.0009 0.00 0.00 B-6 1,795,108.62 1,~~778~~708,~~990~~865.5587 1,~~671~~691.7491 055,574.0073 0.00 0.00 Totals 897,481,008.62 ~~542~~404,~~462~~936,~~115~~977.3436 ~~505~~394,~~952~~157.6738 2826,~~551~~139,~~502~~419.1196 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 ~~246~~163,~~012~~464.0818 21,~~610~~693,~~980~~837.6670 0.~~52118503~~33811160 ~~246~~163,~~012~~464.0818 I-X-A-1 0.00 0.00 0.00000000 0.00 I-A-2 1,~~546~~027,~~875~~830.1633 1610,~~417~~650,~~328~~515.5152 0.~~52118503~~33811160 1,~~546~~027,~~875~~830.1633 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 II-A-1 ~~638~~688,~~224~~745.6415 129,~~953~~119,~~582~~813.7290 0.~~51814331~~36479256 ~~638~~688,~~224~~745.6415 II-X-A-1 0.00 0.00 0.00000000 0.00 II-A-2 3,~~599~~884,~~586~~522.9963 7351,~~058~~435,~~206~~750.5640 0.~~51814331~~36479256 3,~~599~~884,~~586~~522.9963 II-X-A-2 0.00 0.00 0.00000000 0.00 II-A-3 ~~765~~826,~~869~~494.5718 1510,~~544~~943,~~299~~776.2768 0.~~51814331~~36479256 ~~765~~826,~~869~~494.5718 II-X-A-3 0.00 0.00 0.00000000 0.00 II-A-4 1,~~407~~518,~~088~~470.7792 2820,~~558~~106,~~660~~380.2075 0.~~51814331~~36479256 1,~~407~~518,~~088~~470.7792 II-X-A-4 0.00 0.00 0.00000000 0.00 III-A-1 76,~~286~~342,~~186~~726.8219 ~~111~~81,~~043~~221,~~536~~319.9856 0.~~57573993~~42111732 76,~~286~~342,~~186~~726.8219 III-A-2 54,~~647~~916,~~738~~434.2812 8662,~~073~~957,~~120~~040.2707 0.~~57573993~~42111732 54,~~647~~916,~~738~~434.2812 III-X-A-2 0.00 0.00 0.00000000 0.00 III-A-3 5,~~770~~023,~~575~~365.6474 8764,~~945~~326,~~196~~345.2416 0.~~57573993~~42111732 5,~~770~~023,~~575~~365.6474 III-X-A-3 0.00 0.00 0.00000000 0.00 IV-A-1 21,~~124~~296,~~640~~902.5371 5241,~~986~~589,~~213~~313.7722 0.~~60037430~~47123870 21,~~124~~296,~~640~~902.5371 B-1 8286,~~357~~309.9959 8,~~885~~257,~~860~~314.9385 0.~~99009013~~92005558 8286,~~357~~309.9959 B-2 6229,~~686~~049.4559 76,~~108~~605,~~748~~907.1508 0.~~99009013~~92005558 6229,~~686~~049.4559 B-3 4157,~~596~~469.8600 4,~~887~~541,~~183~~486.9136 0.~~99009013~~92005558 4157,~~596~~469.8600 B-4 271,~~089~~577.5040 2,~~221~~064,~~465~~328.2371 0.~~99009013~~92005558 271,~~089~~577.5040 B-5 142,~~253~~948.7799 1,~~332~~238,~~958~~670.3583 0.~~99009014~~92005558 142,~~253~~948.7799 B-6 157,~~671~~266.7464 1,~~777~~651,~~318~~599.8223 0.~~99008985~~92005532 157,~~671~~266.7464 Totals 2926,~~057~~533,~~454~~577.7936 ~~513~~378,~~404~~403,~~660~~400.5702 0.~~57205072~~42162831 2926,~~057~~533,~~454~~577.7936

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 5,009,700.00 ~~570~~370.~~29217917~~74113819 0.~~88237619~~63257081 4831.~~22477194~~99696189 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 31,500,000.00 ~~570~~370.~~29218000~~74113810 0.~~88237556~~63257143 4831.~~22477238~~99696286 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 25,000,000.00 ~~543~~392.~~67229480~~34236200 0.~~58940400~~44877040 2427.~~93958160~~10103560 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 141,000,000.00 ~~543~~392.~~67229468~~34236191 0.~~58940404~~44877028 2427.~~93958170~~10103567 0.00000000 II-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 30,000,000.00 ~~543~~392.~~67229467~~34236200 0.~~58940400~~44877033 2427.~~93958167~~10103567 0.00000000 II-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-4 55,117,300.00 ~~543~~392.~~67229472~~34236184 0.~~58940405~~44877017 2427.~~93958176~~10103561 0.00000000 II-X-A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 192,871,000.00 ~~613~~454.~~51744845~~00317181 0.~~57988485~~45037543 3732.~~19762873~~43547153 0.00000000 III-A-2 149,500,000.00 ~~613~~454.~~51744843~~00317177 0.~~57988482~~45037538 3732.~~19762870~~43547151 0.00000000 III-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-3 152,751,600.00 ~~613~~454.~~51744846~~00317182 0.~~57988486~~45037538 3732.~~19762870~~43547151 0.00000000 III-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 88,255,300.00 ~~624~~485.~~44809887~~93360319 0.~~15814858~~11810667 2314.~~91565243~~57679222 0.00000000 B-1 8,974,800.00 ~~991~~951.~~02140661~~95708428 0.~~93127312~~94251125 030.~~00000000~~95899073 0.00000000 B-2 7,179,900.00 ~~991~~951.~~02140698~~95708436 0.~~93127342~~94251034 030.~~00000000~~95899107 0.00000000 B-3 4,936,100.00 ~~991~~951.~~02140759~~95708353 0.~~93127368~~94251129 030.~~00000000~~95898989 0.00000000 B-4 2,243,700.00 ~~991~~951.~~02140661~~95708428 0.~~93127423~~94251014 030.~~00000000~~95899184 0.00000000 B-5 1,346,300.00 ~~991~~951.~~02140682~~95708237 0.~~93127089~~94250910 030.~~00000000~~95899131 0.00000000 B-6 1,795,108.62 ~~991~~951.~~02111715~~95680694 0.~~93127512~~94251121 030.~~00000000~~95897896 0.00000000 all classes are per $1,000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 4932.~~10714813~~62953470 ~~521~~338.~~18503304~~11160349 0.~~52118503~~33811160 4932.~~10714813~~62953470 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.00000000 4932.~~10714794~~62953429 ~~521~~338.~~18503206~~11160381 0.~~52118503~~33811160 4932.~~10714794~~62953429 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 2527.~~52898560~~54980600 ~~518~~364.~~14330880~~79255600 0.~~51814331~~36479256 2527.~~52898560~~54980600 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 2527.~~52898574~~54980589 ~~518~~364.~~14330894~~79255603 0.~~51814331~~36479256 2527.~~52898574~~54980589 II-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 0.00000000 2527.~~52898567~~54980600 ~~518~~364.~~14330900~~79255600 0.~~51814331~~36479256 2527.~~52898567~~54980600 II-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-4 0.00000000 2527.~~52898582~~54980596 ~~518~~364.~~14330891~~79255606 0.~~51814331~~36479256 2527.~~52898582~~54980596 II-X-A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 3732.~~77751357~~88584697 ~~575~~421.~~73993488~~11732484 0.~~57573993~~42111732 3732.~~77751357~~88584697 III-A-2 0.00000000 3732.~~77751358~~88584696 ~~575~~421.~~73993492~~11732488 0.~~57573993~~42111732 3732.~~77751358~~88584696 III-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-3 0.00000000 3732.~~77751356~~88584696 ~~575~~421.~~73993490~~11732486 0.~~57573993~~42111732 3732.~~77751356~~88584696 III-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 0.00000000 2414.~~07380101~~69489889 ~~600~~471.~~37429786~~23870430 0.~~60037430~~47123870 2414.~~07380101~~69489889 B-1 0.00000000 031.~~93127312~~90150087 ~~990~~920.~~09013348~~05558341 0.~~99009013~~92005558 031.~~93127312~~90150087 B-2 0.00000000 031.~~93127342~~90150141 ~~990~~920.~~09013357~~05558295 0.~~99009013~~92005558 031.~~93127342~~90150141 B-3 0.00000000 031.~~93127368~~90150119 ~~990~~920.~~09013391~~05558234 0.~~99009013~~92005558 031.~~93127368~~90150119 B-4 0.00000000 031.~~93127423~~90150198 ~~990~~920.~~09013237~~05558230 0.~~99009013~~92005558 031.~~93127423~~90150198 B-5 0.00000000 031.~~93127089~~90150041 ~~990~~920.~~09013593~~05558197 0.~~99009014~~92005558 031.~~93127089~~90150041 B-6 0.00000000 031.~~93127512~~90149017 ~~990~~920.~~08984760~~05531676 0.~~99008985~~92005532 031.~~93127512~~90149017 (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-1 5,009,700.00 3.~~53657~~51282% 21,~~856~~857,~~992~~301.7388 85,~~419~~436.9597 0.00 0.00 I-X-A-1 0.00 0.87100% 21,~~856~~857,~~992~~301.7388 21,~~073~~348.7009 0.00 0.00 I-A-2 31,500,000.00 4.~~40757~~38382% 1711,~~964~~678,~~203~~345.6785 6542,~~982~~663.0213 0.00 0.00 R-I 100.00 4.~~53989~~54384% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~53989~~54384% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~53989~~54384% 0.00 0.00 0.00 0.00 II-A-1 25,000,000.00 4.~~26627~~24338% 139,~~591~~808,~~807~~559.3705 4834,~~321~~684.9053 0.00 0.00 II-X-A-1 0.00 0.84300% 139,~~591~~808,~~807~~559.3705 96,~~548~~890.2451 0.00 0.00 II-A-2 141,000,000.00 4.~~19627~~17338% 7655,~~657~~320,~~793~~273.5503 ~~268~~192,~~063~~393.8376 0.00 0.00 II-X-A-2 0.00 0.91300% 7655,~~657~~320,~~793~~273.5503 5842,~~323~~089.8051 0.00 0.00 II-A-3 30,000,000.00 4.~~23627~~21338% 1611,~~310~~770,~~168~~270.8486 5741,~~578~~327.5318 0.00 0.00 II-X-A-3 0.00 0.87300% 1611,~~310~~770,~~168~~270.8486 118,~~865~~562.6587 0.00 0.00 II-A-4 55,117,300.00 3.52600% 2921,~~965~~624,~~748~~851.9766 8863,~~049~~541.3602 0.00 0.00 II-X-A-4 0.00 1.~~58327~~56038% 2921,~~965~~624,~~748~~851.9766 3928,~~536~~119.4915 0.00 0.00 III-A-1 192,871,000.00 5.~~17043~~15098% ~~118~~87,~~329~~564,~~723~~045.8075 ~~509~~375,~~846~~867.3423 0.00 0.00 III-A-2 149,500,000.00 4.~~52343~~50398% 9167,~~720~~873,~~858~~474.5418 ~~345~~254,~~744~~750.1166 0.00 0.00 III-X-A-2 0.00 0.64700% 9167,~~720~~873,~~858~~474.5418 4936,~~452~~595.8311 0.00 0.00 III-A-3 152,751,600.00 4.~~03543~~01598% 9369,~~715~~349,~~771~~710.8890 ~~315~~232,~~152~~089.9023 0.00 0.00 III-X-A-3 0.00 1.13500% 9369,~~715~~349,~~771~~710.8890 8865,~~639~~593.5027 0.00 0.00 IV-A-1 88,255,300.00 5.~~63489~~60959% 5542,~~110~~886,~~854~~215.3093 ~~258~~200,~~786~~478.4253 0.00 0.00 B-1 8,974,800.00 5.~~16838~~14653% 8,~~894~~543,~~218~~624.9244 3836,~~307~~641.2767 0.00 0.00 B-2 7,179,900.00 5.~~16838~~14653% 76,~~115~~834,~~434~~956.6067 3029,~~646~~313.0758 0.00 0.00 B-3 4,936,100.00 5.~~16838~~14653% 4,~~891~~698,~~780~~955.7736 2120,~~068~~152.8375 0.00 0.00 B-4 2,243,700.00 5.~~16838~~14653% 2,~~223~~135,~~554~~906.7311 9,~~576~~160.8242 0.00 0.00 B-5 1,346,300.00 5.~~16838~~14653% 1,~~334~~281,~~212~~619.1282 5,~~746~~496.4358 0.00 0.00 B-6 1,795,108.62 5.~~16838~~14653% 1,~~778~~708,~~990~~865.5587 7,~~662~~328.0994 0.00 0.00 Totals 897,481,008.62 21,~~338~~740,~~393~~524.0869 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-1 413.1978 0.00 85,~~415~~423.7619 0.00 21,~~610~~693,~~980~~837.6670 I-X-A-1 13.0342 0.00 21,~~072~~344.6768 0.00 21,~~610~~693,~~980~~837.6670 I-A-2 32108.8412 0.00 6542,~~949~~555.1801 0.00 1610,~~417~~650,~~328~~515.5152 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 II-A-1 2487.0590 0.00 4834,~~297~~596.8563 0.00 129,~~953~~119,~~582~~813.7290 II-X-A-1 417.7546 0.00 96,~~543~~873.4905 0.00 129,~~953~~119,~~582~~813.7290 II-A-2 ~~133~~487.4160 0.00 ~~267~~191,~~930~~906.4216 0.00 7351,~~058~~435,~~206~~750.5640 II-X-A-2 29106.0367 0.00 5841,~~294~~982.7884 0.00 7351,~~058~~435,~~206~~750.5640 II-A-3 28104.6674 0.00 5741,~~549~~222.8744 0.00 1510,~~544~~943,~~299~~776.2768 II-X-A-3 521.9170 0.00 118,~~859~~541.7417 0.00 1510,~~544~~943,~~299~~776.2768 II-A-4 43161.8204 0.00 8863,~~005~~379.5498 0.00 2820,~~558~~106,~~660~~380.2075 II-X-A-4 1971.6826 0.00 3928,~~516~~047.8289 0.00 2820,~~558~~106,~~660~~380.2075 III-A-1 ~~253~~952.7459 0.00 ~~509~~374,~~592~~914.6063 0.00 ~~111~~81,~~043~~221,~~536~~319.9856 III-A-2 ~~172~~645.0764 0.00 ~~345~~254,~~572~~105.0302 0.00 8662,~~073~~957,~~120~~040.2707 III-X-A-2 2492.6175 0.00 4936,~~428~~502.2237 0.00 8662,~~073~~957,~~120~~040.2707 III-A-3 ~~156~~588.8520 0.00 ~~314~~231,~~996~~501.0602 0.00 8764,~~945~~326,~~196~~345.2416 III-X-A-3 44166.1124 0.00 8865,~~595~~427.3903 0.00 8764,~~945~~326,~~196~~345.2416 IV-A-1 ~~128~~508.7909 0.00 ~~258~~199,~~657~~970.6244 0.00 5241,~~986~~589,~~213~~313.7722 B-1 1992.0686 0.00 3836,~~288~~548.2080 0.00 8,~~885~~257,~~860~~314.9385 B-2 1574.2529 0.00 3029,~~630~~239.8229 0.00 76,~~108~~605,~~748~~907.1508 B-3 1051.4907 0.00 2120,~~058~~101.3468 0.00 4,~~887~~541,~~183~~486.9136 B-4 423.7722 0.00 9,~~572~~137.0520 0.00 2,~~221~~064,~~465~~328.2371 B-5 213.8693 0.00 5,~~743~~482.5765 0.00 1,~~332~~238,~~958~~670.3583 B-6 318.8157 0.00 7,~~658~~310.2736 0.00 1,~~777~~651,~~318~~599.8223 Totals 14,~~163~~411.7814 0.00 21,~~337~~736,~~229~~113.2953 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-1 5,009,700.00 3.~~53657~~51282% ~~570~~370.~~29217917~~74113819 1.~~68072938~~08528854 0.00000000 0.00000000 I-X-A-1 0.00 0.87100% ~~570~~370.~~29217917~~74113819 0.~~41393696~~26909595 0.00000000 0.00000000 I-A-2 31,500,000.00 4.~~40757~~38382% ~~570~~370.~~29218000~~74113810 21.~~09466730~~35438508 0.00000000 0.00000000 R-I 100.00 4.~~53989~~54384% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~53989~~54384% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~53989~~54384% 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 25,000,000.00 4.~~26627~~24338% ~~543~~392.~~67229480~~34236200 1.~~93287600~~38738120 0.00000000 0.00000000 II-X-A-1 0.00 0.84300% ~~543~~392.~~67229480~~34236200 0.~~38192960~~27562040 0.00000000 0.00000000 II-A-2 141,000,000.00 4.~~19627~~17338% ~~543~~392.~~67229468~~34236191 1.~~90116191~~36449475 0.00000000 0.00000000 II-X-A-2 0.00 0.91300% ~~543~~392.~~67229468~~34236191 0.~~41364397~~29850716 0.00000000 0.00000000 II-A-3 30,000,000.00 4.~~23627~~21338% ~~543~~392.~~67229467~~34236200 1.~~91928433~~37757267 0.00000000 0.00000000 II-X-A-3 0.00 0.87300% ~~543~~392.~~67229467~~34236200 0.~~39552167~~28542900 0.00000000 0.00000000 II-A-4 55,117,300.00 3.52600% ~~543~~392.~~67229472~~34236184 1.~~59749044~~15283260 0.00000000 0.00000000 II-X-A-4 0.00 1.~~58327~~56038% ~~543~~392.~~67229472~~34236184 0.~~71731543~~51016922 0.00000000 0.00000000 III-A-1 192,871,000.00 5.~~17043~~15098% ~~613~~454.~~51744845~~00317181 21.~~64345775~~94880117 0.00000000 0.00000000 III-A-2 149,500,000.00 4.~~52343~~50398% ~~613~~454.~~51744843~~00317177 21.~~31266963~~70401779 0.00000000 0.00000000 III-X-A-2 0.00 0.64700% ~~613~~454.~~51744843~~00317177 0.~~33078816~~24478334 0.00000000 0.00000000 III-A-3 152,751,600.00 4.~~03543~~01598% ~~613~~454.~~51744846~~00317182 21.~~06317250~~51938985 0.00000000 0.00000000 III-X-A-3 0.00 1.13500% ~~613~~454.~~51744846~~00317182 0.~~58028525~~42941134 0.00000000 0.00000000 IV-A-1 88,255,300.00 5.~~63489~~60959% ~~624~~485.~~44809887~~93360319 2.~~93224792~~27157496 0.00000000 0.00000000 B-1 8,974,800.00 5.~~16838~~14653% ~~991~~951.~~02140661~~95708428 4.~~26831461~~08272831 0.00000000 0.00000000 B-2 7,179,900.00 5.~~16838~~14653% ~~991~~951.~~02140698~~95708436 4.~~26831432~~08272817 0.00000000 0.00000000 B-3 4,936,100.00 5.~~16838~~14653% ~~991~~951.~~02140759~~95708353 4.~~26831507~~08272725 0.00000000 0.00000000 B-4 2,243,700.00 5.~~16838~~14653% ~~991~~951.~~02140661~~95708428 4.~~26831573~~08272942 0.00000000 0.00000000 B-5 1,346,300.00 5.~~16838~~14653% ~~991~~951.~~02140682~~95708237 4.~~26831315~~08273045 0.00000000 0.00000000 B-6 1,795,108.62 5.~~16838~~14653% ~~991~~951.~~02111715~~95680694 4.~~26831553~~08272787 0.00000000 0.00000000 all classes are per $1,000 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A-1 0.~~00083638~~00275066 0.00000000 1.~~67989301~~08253788 0.00000000 ~~521~~338.~~18503304~~11160349 I-X-A-1 0.~~00020560~~00068268 0.00000000 0.~~41373136~~26841527 0.00000000 ~~521~~338.~~18503304~~11160349 I-A-2 0.~~00104254~~00343238 0.00000000 21.~~09362476~~35095270 0.00000000 ~~521~~338.~~18503206~~11160381 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.~~00096200~~00351600 0.00000000 1.~~93191400~~38386520 0.00000000 ~~518~~364.~~14330880~~79255600 II-X-A-1 0.~~00019000~~00069840 0.00000000 0.~~38173960~~27492200 0.00000000 ~~518~~364.~~14330880~~79255600 II-A-2 0.~~00094617~~00345816 0.00000000 1.~~90021574~~36103660 0.00000000 ~~518~~364.~~14330894~~79255603 II-X-A-2 0.~~00020589~~00075652 0.00000000 0.~~41343816~~29775064 0.00000000 ~~518~~364.~~14330894~~79255603 II-A-3 0.~~00095533~~00349133 0.00000000 1.~~91832900~~37408133 0.00000000 ~~518~~364.~~14330900~~79255600 II-X-A-3 0.~~00019700~~00072333 0.00000000 0.~~39532467~~28470567 0.00000000 ~~518~~364.~~14330900~~79255600 II-A-4 0.~~00079503~~00292177 0.00000000 1.~~59669541~~14991083 0.00000000 ~~518~~364.~~14330891~~79255606 II-X-A-4 0.~~00035706~~00129288 0.00000000 0.~~71695856~~50887634 0.00000000 ~~518~~364.~~14330891~~79255606 III-A-1 0.~~00131559~~00493900 0.00000000 21.~~64214216~~94386212 0.00000000 ~~575~~421.~~73993488~~11732484 III-A-2 0.~~00115097~~00431866 0.00000000 21.~~31151860~~69969913 0.00000000 ~~575~~421.~~73993492~~11732488 III-X-A-2 0.~~00016462~~00062040 0.00000000 0.~~33062355~~24416301 0.00000000 ~~575~~421.~~73993492~~11732488 III-A-3 0.~~00102683~~00385070 0.00000000 21.~~06214573~~51553908 0.00000000 ~~575~~421.~~73993490~~11732486 III-X-A-3 0.~~00028877~~00108830 0.00000000 0.~~57999648~~42832304 0.00000000 ~~575~~421.~~73993490~~11732486 IV-A-1 0.~~00145929~~00575705 0.00000000 2.~~93078852~~26581792 0.00000000 ~~600~~471.~~37429786~~23870430 B-1 0.~~00212372~~01034675 0.00000000 4.~~26618978~~07238044 0.00000000 ~~990~~920.~~09013348~~05558341 B-2 0.~~00212399~~01034694 0.00000000 4.~~26619034~~07238123 0.00000000 ~~990~~920.~~09013357~~05558295 B-3 0.~~00212516~~01034622 0.00000000 4.~~26618991~~07238103 0.00000000 ~~990~~920.~~09013391~~05558234 B-4 0.~~00212595~~01034898 0.00000000 4.~~26618978~~07238044 0.00000000 ~~990~~920.~~09013237~~05558230 B-5 0.~~00212434~~01034688 0.00000000 4.~~26618881~~07238357 0.00000000 ~~990~~920.~~09013593~~05558197 B-6 0.~~00212243~~01034478 0.00000000 4.~~26618752~~07237753 0.00000000 ~~990~~920.~~08984760~~05531676 (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 3128,~~538~~385,~~361~~019.2709 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4729,~~932~~649.0177 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 3128,~~586~~414,~~293~~668.2886 Withdrawals Reimbursement for Servicer Advances 3931,~~924~~929.2624 Payment of Service Fee ~~151~~113,~~684~~048.9273 Payment of Interest and Principal 3128,~~394~~269,~~684~~690.1089 Total Withdrawals (Pool Distribution Amount) 3128,~~586~~414,~~293~~668.2886 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 04,411.0014 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 14,~~163~~411.7814

SERVICING FEES Gross Servicing Fee ~~151~~112,~~261~~627.4677 Additional Servicing Fees ~~423~~420.4696 Miscellaneous Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~151~~113,~~684~~048.9273

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 157 10 0 0 167 63,~~571~~393,~~457~~922.3245 ~~614,370~~0.6200 0.00 0.00 73,~~185~~393,~~827~~922.9445 60 Days 12 0 0 0 12 ~~417~~979,~~840~~251.6463 0.00 0.00 0.00 ~~417~~979,~~840~~251.6463 90 Days 10 0 0 0 10 ~~348,000~~0.00 0.00 0.00 0.00 ~~348,000~~0.00 120 Days 01 0 0 0 01 0348,000.00 0.00 0.00 0.00 0348,000.00 150 Days 0 02 0 0 02 0.00 0984,484.0035 0.00 0.00 0984,484.0035 180+ Days 0 0 20 0 20 0.00 0.00 ~~1,060,846~~0.2300 0.00 ~~1,060,846~~0.2300 Totals 1710 1 2 0 200 712 4,~~337~~721,~~297~~174.9608 ~~614~~984,~~370~~484.6235 ~~1,060,846~~0.2300 0.00 95,~~012~~705,~~514~~658.8143 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 10.~~303215~~817757% 0.~~086881~~000000% 0.000000% 0.000000% 10.~~390096~~817757% 10.~~278912~~896202% 0.~~119566~~000000% 0.000000% 0.000000% 10.~~398478~~896202% 60 Days 0.~~086881~~233645% 0.000000% 0.000000% 0.000000% 0.~~086881~~233645% 0.~~081319~~258582% 0.000000% 0.000000% 0.000000% 0.~~081319~~258582% 90 Days 0.~~086881~~000000% 0.000000% 0.000000% 0.000000% 0.~~086881~~000000% 0.~~067726~~000000% 0.000000% 0.000000% 0.000000% 0.~~067726~~000000% 120 Days 0.~~000000~~116822% 0.000000% 0.000000% 0.000000% 0.~~000000~~116822% 0.~~000000~~091893% 0.000000% 0.000000% 0.000000% 0.~~000000~~091893% 150 Days 0.000000% 0.~~000000~~233645% 0.000000% 0.000000% 0.~~000000~~233645% 0.000000% 0.~~000000~~259964% 0.000000% 0.000000% 0.~~000000~~259964% 180+ Days 0.000000% 0.000000% 0.~~173762~~000000% 0.000000% 0.~~173762~~000000% 0.000000% 0.000000% 0.~~206458~~000000% 0.000000% 0.~~206458~~000000% Totals 1.~~476977~~168224% 0.~~086881~~233645% 0.~~173762~~000000% 0.000000% 1.~~737619~~401869% 1.~~427957~~246678% 0.~~119566~~259964% 0.~~206458~~000000% 0.000000% 1.~~753981~~506642%

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 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 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 92 10 0 0 102 3990,~~922,495~~099.3960 ~~614,370~~0.6200 0.00 0.00 4990,~~536,866~~099.0160 60 Days 10 0 0 0 10 ~~417,840~~0.6400 0.00 0.00 0.00 ~~417,840~~0.6400 90 Days 10 0 0 0 10 ~~348,000~~0.00 0.00 0.00 0.00 ~~348,000~~0.00 120 Days 01 0 0 0 01 0348,000.00 0.00 0.00 0.00 0348,000.00 150 Days 0 01 0 0 01 0.00 0614,370.0062 0.00 0.00 0614,370.0062 180 Days 0 0 10 0 10 0.00 0.00 ~~452,029~~0.1700 0.00 ~~452,029~~0.1700 Totals 113 1 10 0 13 4 1,~~688~~338,~~336~~099.0360 614,370.62 ~~452,029~~0.1700 0.00 51,~~754~~952,~~735~~470.8222 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~830189~~881057% 0.~~314465~~000000% 0.000000% 0.000000% 30.~~144654~~881057% 21.~~846595~~003655% 0.~~445855~~000000% 0.000000% 0.000000% 31.~~292449~~003655% 60 Days 0.~~314465~~000000% 0.000000% 0.000000% 0.000000% 0.~~314465~~000000% 0.~~303231~~000000% 0.000000% 0.000000% 0.000000% 0.~~303231~~000000% 90 Days 0.~~314465~~000000% 0.000000% 0.000000% 0.000000% 0.~~314465~~000000% 0.~~252547~~000000% 0.000000% 0.000000% 0.000000% 0.~~252547~~000000% 120 Days 0.~~000000~~440529% 0.000000% 0.000000% 0.000000% 0.~~000000~~440529% 0.~~000000~~352765% 0.000000% 0.000000% 0.000000% 0.~~000000~~352765% 150 Days 0.000000% 0.~~000000~~440529% 0.000000% 0.000000% 0.~~000000~~440529% 0.000000% 0.~~000000~~622782% 0.000000% 0.000000% 0.~~000000~~622782% 180 Days 0.000000% 0.000000% 0.~~314465~~000000% 0.000000% 0.~~314465~~000000% 0.000000% 0.000000% 0.~~328042~~000000% 0.000000% 0.~~328042~~000000% Totals 31.~~459119~~321586% 0.~~314465~~440529% 0.~~314465~~000000% 0.000000% 41.~~088050~~762115% 31.~~402373~~356420% 0.~~445855~~622782% 0.~~328042~~000000% 0.000000% 41.~~176270~~979202% 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 5 0 0 0 5 2,~~163~~403,~~961~~822.9385 0.00 0.00 0.00 2,~~163~~403,~~961~~822.9385 60 Days 02 0 0 0 02 0979,251.0063 0.00 0.00 0.00 0979,251.0063 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 01 0 0 01 0.00 0370,113.0073 0.00 0.00 0370,113.0073 180 Days 0 0 10 0 10 0.00 0.00 ~~608,817~~0.0600 0.00 ~~608,817~~0.0600 Totals 57 0 1 0 60 28 3,~~163~~383,~~961~~074.9348 370,113.73 0.00 ~~608,817.06~~ 0.00 23,~~772~~753,~~778~~188.9921 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~762195~~022495% 0.000000% 0.000000% 0.000000% 01.~~762195~~022495% 01.~~720800~~079898% 0.000000% 0.000000% 0.000000% 01.~~720800~~079898% 60 Days 0.~~000000~~408998% 0.000000% 0.000000% 0.000000% 0.~~000000~~408998% 0.~~000000~~439921% 0.000000% 0.000000% 0.000000% 0.~~000000~~439921% 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~~204499% 0.000000% 0.000000% 0.~~000000~~204499% 0.000000% 0.~~000000~~166271% 0.000000% 0.000000% 0.~~000000~~166271% 180 Days 0.000000% 0.000000% 0.~~152439~~000000% 0.000000% 0.~~152439~~000000% 0.000000% 0.000000% 0.~~202793~~000000% 0.000000% 0.~~202793~~000000% Totals 01.~~762195~~431493% 0.~~000000~~204499% 0.~~152439~~000000% 0.000000% 01.~~914634~~635992% 01.~~720800~~519820% 0.~~000000~~166271% 0.~~202793~~000000% 0.000000% 01.~~923593~~686090% 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 10 0 0 0 10 ~~485,000~~0.00 0.00 0.00 0.00 ~~485,000~~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 10 0 0 0 10 ~~485,000~~0.00 0.00 0.00 0.00 ~~485,000~~0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~775194~~000000% 0.000000% 0.000000% 0.000000% 0.~~775194~~000000% 0.~~871152~~000000% 0.000000% 0.000000% 0.000000% 0.~~871152~~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.~~775194~~000000% 0.000000% 0.000000% 0.000000% 0.~~775194~~000000% 0.~~871152~~000000% 0.000000% 0.000000% 0.000000% 0.~~871152~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4729,~~932~~649.0177

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 892,471,308.62 99.44180434% ~~510~~376,~~793~~709,~~679~~562.9132 99.~~49143807~~55237249% 9493.~~894177~~562609% 0.000000% Class IA2 860,971,308.62 95.93198077% ~~494~~366,~~376~~059,~~351~~046.4080 96.~~29370152~~73777952% 32.~~197737~~814593% 6243.~~629204~~722572% Class R-I 860,971,208.62 95.93196963% ~~494~~366,~~376~~059,~~351~~046.4080 96.~~29370152~~73777952% 0.000000% 0.000000% Class R-II 860,971,158.62 95.93196406% ~~494~~366,~~376~~059,~~351~~046.4080 96.~~29370152~~73777952% 0.000000% 0.000000% Class R-III 860,971,108.62 95.93195849% ~~494~~366,~~376~~059,~~351~~046.4080 96.~~29370152~~73777952% 0.000000% 0.000000% Class 2A1 835,971,108.62 93.14638422% ~~481~~356,~~422~~939,~~768~~232.6890 9394.~~77062689~~32770236% 2.~~523075~~410077% 4937.~~415626~~438725% Class 2A2 694,971,108.62 77.43574537% ~~408~~305,~~364~~503,~~562~~482.1250 7980.~~54048600~~73486720% 1413.~~230141~~592835% ~~278~~211.~~704133~~154407% Class 2A3 664,971,108.62 74.09305626% ~~392~~294,~~820~~559,~~262~~705.8582 7677.~~51279644~~84277462% 32.~~027690~~892093% 5944.~~298752~~926470% Class 2A4 609,853,808.62 67.95172296% ~~364~~274,~~261~~453,~~602~~325.6507 7072.~~95019400~~52929679% 5.~~562602~~313478% ~~108~~82.~~946236~~540857% Class B-1 17,501,108.62 1.95002551% 1716,~~327~~101,~~674~~992.4621 34.~~37505204~~25524512% 12.~~730771~~182146% 33.897987% Class B-2 10,321,208.62 1.15001972% 109,~~218~~496,~~926~~085.3113 12.~~99042336~~50951369% 1.~~384629~~745731% 27.118617% Class B-3 5,385,108.62 0.60002480% 54,~~331~~954,~~742~~598.4077 1.~~03850682~~30934309% 01.~~951917~~200171% 18.643742% Class B-4 3,141,408.62 0.35002508% 32,~~110~~890,~~277~~270.1706 0.~~60581397~~76380658% 0.~~432693~~545537% 8.474497% Class B-5 1,795,108.62 0.20001633% 1,~~777~~651,~~318~~599.8223 0.~~34618284~~43646522% 0.~~259631~~327341% 5.085000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~346183~~436465% 6.780157% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~508391~~493388% Weighted Average Net Coupon 5.~~173780~~159624% Weighted Average Pass-Through Rate 5.~~172844~~158376% Weighted Average Maturity(Stepdown Calculation ) ~~346~~342 Beginning Scheduled Collateral Loan Count ~~1,208~~915 Number Of Loans Paid In Full 5759 Ending Scheduled Collateral Loan Count ~~1,151~~856 Beginning Scheduled Collateral Balance ~~542~~404,~~462~~936,~~115~~977.3337 Ending Scheduled Collateral Balance ~~513~~378,~~404~~403,~~660~~400.5402 Ending Actual Collateral Balance at 2930-~~Feb~~Jun-2004 ~~513~~378,~~831~~700,~~944~~450.4804 Monthly P &I Constant 2,~~996~~247,~~030~~887.7023 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 3127,~~258~~321,~~184~~386.0789 Ending Scheduled Balance for Premium Loans ~~513~~378,~~404~~403,~~660~~400.5402 Scheduled Principal ~~505~~394,~~952~~157.6838 Unscheduled Principal 2826,~~551~~139,~~502~~419.1197

Miscellaneous Reporting Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00 Average Loss Severity Group 4 0.00 Senior Percentage Group 1 9592.~~006349~~799956% Senior Percentage Group 2 9493.~~756615~~185891% Senior Percentage Group 3 9593.~~320526~~970795% Senior Percentage Group 4 9594.~~368148~~435848% Senior Prepayment Percentage Group 1 ~~100~~96.~~000000~~399978% Senior Prepayment Percentage Group 2 ~~100~~96.~~000000~~592945% Senior Prepayment Percentage Group 3 ~~100~~96.~~000000~~985398% Senior Prepayment Percentage Group 4 ~~100~~97.~~000000~~217924% Subordinate Percentage Group 1 47.~~993651~~200044% Subordinate Percentage Group 2 56.~~243385~~814109% Subordinate Percentage Group 3 46.~~679474~~029205% Subordinate Percentage Group 4 45.~~631852~~564152% Subordinate Prepay Percent Group 1 03.~~000000~~600022% Subordinate Prepay Percent Group 2 03.~~000000~~407055% Subordinate Prepay Percent Group 3 03.~~000000~~014602% Subordinate Prepay Percent Group 4 02.~~000000~~782076%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~757214~~742928 5.~~380619~~358178 5.~~543846~~524336 Weighted Average Net Rate 4.~~407567~~396693 5.~~111777~~089779 5.~~170890~~151590 Weighted Average Maturity ~~342~~338 ~~345~~341 ~~347~~343 Beginning Loan Count 5137 ~~332~~244 ~~691~~525 Loans Paid In Full 3 1417 3536 Ending Loan Count 4834 ~~318~~227 ~~656~~489 Beginning Scheduled Balance 2114,~~915~~585,~~584~~834.1923 ~~144~~105,~~080~~728,~~197~~403.6749 ~~318~~239,~~678~~209,~~848~~671.1761 Ending scheduled Balance 2013,~~121~~349,~~003~~121.6887 ~~137~~98,~~661~~561,~~237~~883.5404 ~~299~~222,~~960~~413,~~252~~658.4498 Record Date 0206/2930/2004 0206/2930/2004 0206/2930/2004 Principal And Interest Constant ~~120~~82,~~789~~536.4750 ~~802~~593,~~233~~027.6359 1,~~773~~338,~~464~~527.5111 Scheduled Principal 3324,~~908~~886.5486 ~~156~~120,~~199~~934.7159 ~~301~~237,~~209~~298.0924 Unscheduled Principal 1,~~760~~211,~~671~~825.9750 67,~~262~~045,~~760~~585.4286 1816,~~417~~558,~~386~~714.6439 Scheduled Interest 8657,~~880~~649.9364 ~~646~~472,~~033~~093.9200 1,~~472~~101,~~255~~228.4287 Servicing Fees 64,~~385~~208.6045 3223,~~279~~647.0685 9974,~~044~~303.2483 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 ~~301~~299.3150 ~~122~~121.1546 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 8053,~~495~~441.3319 ~~613~~448,~~453~~145.5565 1,~~373~~026,~~089~~803.0358 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.~~407567~~396693 5.~~109267~~086380 5.~~170430~~150980

Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~916321~~886191 5.~~508391~~493388 Weighted Average Net Rate 5.~~634892~~609593 5.~~173780~~159624 Weighted Average Maturity ~~346~~342 ~~346~~342 Beginning Loan Count ~~134~~109 ~~1,208~~915 Loans Paid In Full 53 5759 Ending Loan Count ~~129~~106 ~~1,151~~856 Beginning Scheduled Balance 5745,~~787~~413,~~485~~068.3004 ~~542~~404,~~462~~936,~~115~~977.3337 Ending scheduled Balance 5544,~~662~~078,~~166~~736.8813 ~~513~~378,~~404~~403,~~660~~400.5402 Record Date 0206/2930/2004 0206/2930/2004 Principal And Interest Constant ~~299~~233,~~543~~796.0903 2,~~996~~247,~~030~~887.7023 Scheduled Principal 1411,~~635~~037.3469 ~~505~~394,~~952~~157.6838 Unscheduled Principal 21,~~110~~323,~~683~~294.0822 2826,~~551~~139,~~502~~419.1197 Scheduled Interest ~~284~~222,~~907~~758.7534 21,~~490~~853,~~078~~729.0285 Servicing Fees 1310,~~552~~467.5664 ~~151~~112,~~261~~627.4677 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 ~~423~~420.4696 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 ~~271~~212,~~355~~290.1970 21,~~338~~740,~~393~~681.1012 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 5.~~634892~~609593 5.~~172844~~158376

Filing Compare · STRUCTURED ASSET MORT INV INC BEAR STEARNS ARM TRUST 2003 3