8-K 1 bst01007_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 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 90-0042382 Pooling and Servicing Agreement) (Commission 90-0031687 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On July 26, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-7 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the 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 2001-7 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 8/3/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-7 Trust, relating to the July 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 46/30/042004 Distribution Date: 57/2526/042004 BST Series: 2001-7 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384MGL0 SEN 4.~~40886~~37365% 4,~~624~~474,~~159~~340.1533 16,~~989~~307.4168 ~~124~~101,~~448~~289.6032 II-A 07384MGP1 SEN 2.~~69418~~68860% 4844,~~553~~643,~~549~~889.7793 ~~109~~100,~~009~~024.9859 2726,~~624,654~~354.7828 III-A 07384MGU0 SEN 43.~~00645~~95835% 2725,~~200~~498,~~666~~250.2186 9084,~~815~~109.0111 1,~~047~~462,~~630~~725.3195 IV-A 07384MGQ9 SEN 7.~~18216~~13809% 1,~~818~~483,~~315~~904.5695 108,~~882~~826.8687 21,~~311~~991.6526 B-1 07384MGR7 SUB 3.~~95593~~91048% 3,~~631~~498,~~350~~557.4900 11,~~971~~400.1487 6865,~~690~~682.3701 B-2 07384MGS5 SUB 3.~~95593~~91048% 2,~~136~~058,~~199~~082.9203 76,~~042~~706.2275 4038,~~408~~638.2149 B-3 07384MGT3 SUB 3.~~95593~~91048% 1,~~495~~440,~~296~~615.2432 4,~~929~~694.4159 2827,~~284~~046.9215 B-4 07384MGV8 SUB 3.~~95593~~91048% ~~747~~720,~~684~~342.5475 2,~~464~~347.8241 1413,~~143~~523.1574 B-5 07384MGW6 SUB 3.~~95593~~91048% ~~640~~617,~~830~~396.8454 2,~~112~~011.5793 1211,~~121~~591.9102 B-6 07384MGX4 SUB 3.~~95593~~91048% ~~961~~926,~~459~~300.3208 3,~~169~~018.5657 1817,~~186~~390.9039 R-I 07384MGM8 RES 6.~~36452~~36465% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36452~~36465% 0.00 0.00 0.00 Totals 9185,~~809~~361,~~512~~679.0479 ~~259~~239,~~386~~448.9837 32,~~980~~466,~~880~~232.8061

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 4,~~499~~373,~~710~~051.5501 ~~141~~117,~~438~~597.0100 0.00 II-A 0.00 4543,~~928~~917,~~894~~535.9965 2826,~~733,664~~378.7687 0.00 III-A 0.00 2624,~~153,~~035,524.9091 1,~~138~~546,~~445~~835.3206 0.00 IV-A 0.00 1,~~816~~481,~~003~~913.9269 1310,~~194~~818.5113 0.00 B-1 0.00 3,~~562~~432,~~660~~874.1298 8077,~~661~~082.5188 0.00 B-2 0.00 2,~~095~~019,~~791~~443.7154 4745,~~450~~345.4324 0.00 B-3 0.00 1,~~467~~413,~~011~~569.3216 3331,~~214~~740.3374 0.00 B-4 0.00 ~~733~~706,~~541~~819.3901 1615,~~607~~871.9715 0.00 B-5 0.00 ~~628~~605,~~708~~805.9352 1413,~~234~~602.4895 0.00 B-6 0.00 ~~943~~908,~~272~~909.4269 2120,~~356~~408.4696 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 8782,~~828~~895,~~631~~447.2516 42,~~240~~705,~~267~~680.7898 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A 16,941,900.00 4,~~624~~474,~~159~~340.1533 2120,~~053~~759.3204 ~~103~~80,~~395~~530.2928 0.00 0.00 II-A 59,270,500.00 4844,~~553~~643,~~549~~889.7793 0.00 2726,~~624,654~~354.7828 0.00 0.00 III-A 162,837,100.00 2725,~~200~~498,~~666~~250.2186 5351,~~451~~257.9389 ~~994~~1,~~178~~411,468.3806 0.00 0.00 IV-A 41,028,800.00 1,~~818~~483,~~315~~904.5695 21,~~194~~875.0358 ~~117~~115.6268 0.00 0.00 B-1 4,985,500.00 3,~~631~~498,~~350~~557.4900 5,~~490~~441.7995 6360,~~199~~240.5807 0.00 0.00 B-2 2,932,800.00 2,~~136~~058,~~199~~082.9203 3,~~230~~201.0531 3735,~~178~~437.1618 0.00 0.00 B-3 2,052,900.00 1,~~495~~440,~~296~~615.2432 2,~~260~~240.9785 2624,~~023~~805.9530 0.00 0.00 B-4 1,026,500.00 ~~747~~720,~~684~~342.5475 1,~~130~~120.5448 1312,~~012~~403.6126 0.00 0.00 B-5 879,800.00 ~~640~~617,~~830~~396.8454 ~~968~~960.9735 1110,~~152~~630.9467 0.00 0.00 B-6 1,319,993.00 ~~961~~926,~~459~~300.3208 1,~~453~~440.7884 1615,~~733~~949.1254 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 293,275,893.00 9185,~~809~~361,~~512~~679.0479 9188,~~234~~298.3829 32,~~889~~377,~~646~~934.4332 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 ~~124~~101,~~448~~289.6032 4,~~499~~373,~~710~~051.5501 0.~~26559657~~25812046 ~~124~~101,~~448~~289.6032 II-A 2726,~~624,654~~354.7828 4543,~~928~~917,~~894~~535.9965 0.~~77490311~~74096786 2726,~~624,654~~354.7828 III-A 1,~~047~~462,~~630~~725.3195 2624,~~153,~~035,524.9091 0.~~16060858~~14760472 1,~~047~~462,~~630~~725.3195 IV-A 21,~~311~~991.6526 1,~~816~~481,~~003~~913.9269 0.~~04426169~~03611887 21,~~311~~991.6526 B-1 6865,~~690~~682.3701 3,~~562~~432,~~660~~874.1298 0.~~71460438~~68857185 6865,~~690~~682.3701 B-2 4038,~~408~~638.2149 2,~~095~~019,~~791~~443.7154 0.~~71460437~~68857186 4038,~~408~~638.2149 B-3 2827,~~284~~046.9215 1,~~467~~413,~~011~~569.3216 0.~~71460437~~68857185 2827,~~284~~046.9215 B-4 1413,~~143~~523.1574 ~~733~~706,~~541~~819.3901 0.~~71460437~~68857186 1413,~~143~~523.1574 B-5 1211,~~121~~591.9102 ~~628~~605,~~708~~805.9352 0.~~71460438~~68857186 1211,~~121~~591.9102 B-6 1817,~~186~~390.9039 ~~943~~908,~~272~~909.4269 0.~~71460411~~68857160 1817,~~186~~390.9039 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 32,~~980~~466,~~880~~232.8061 8782,~~828~~895,~~631~~447.2516 0.~~29947443~~28265346 32,~~980~~466,~~880~~232.8061

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~272~~264.~~94218181~~09908747 1.~~24267762~~22530767 64.~~10293356~~75332047 0.00000000 II-A 59,270,500.00 ~~819~~753.~~18576307~~22276563 0.00000000 4412.~~28264955~~25490387 0.00000000 III-A 162,837,100.00 ~~167~~156.~~04219253~~58747828 0.~~32825400~~31478017 68.~~10535547~~66797591 0.00000000 IV-A 41,028,800.00 4436.~~31802929~~16739827 0.~~05347536~~04571374 0.~~00286677~~00281948 0.00000000 B-1 4,985,500.00 ~~728~~701.~~38240698~~74646475 1.~~10135192~~09155551 12.~~67667837~~08305486 0.00000000 B-2 2,932,800.00 ~~728~~701.~~38240589~~74646413 1.~~10135366~~09155415 12.~~67667758~~08305374 0.00000000 B-3 2,052,900.00 ~~728~~701.~~38240538~~74646597 1.~~10135418~~09155341 12.~~67667690~~08305324 0.00000000 B-4 1,026,500.00 ~~728~~701.~~38240623~~74646858 1.~~10135412~~09155382 12.~~67667803~~08305894 0.00000000 B-5 879,800.00 ~~728~~701.~~38240509~~74646511 1.~~10135258~~09155490 12.~~67667652~~08305297 0.00000000 B-6 1,319,993.00 ~~728~~701.~~38213536~~74620623 1.~~10135433~~09155124 12.~~67667329~~08304893 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 75.~~34561059~~97862813 ~~265~~258.~~59657122~~12045933 0.~~26559657~~25812046 75.~~34561059~~97862813 II-A 0.00000000 4412.~~28264955~~25490387 ~~774~~740.~~90311352~~96786175 0.~~77490311~~74096786 4412.~~28264955~~25490387 III-A 0.00000000 68.~~43360948~~98275608 ~~160~~147.~~60858306~~60472220 0.~~16060858~~14760472 68.~~43360948~~98275608 IV-A 0.00000000 0.~~05634213~~04853323 4436.~~26168740~~11886504 0.~~04426169~~03611887 0.~~05634213~~04853323 B-1 0.00000000 13.~~77803029~~17460836 ~~714~~688.~~60437669~~57185438 0.~~71460438~~68857185 13.~~77803029~~17460836 B-2 0.00000000 13.~~77803123~~17460788 ~~714~~688.~~60437466~~57185625 0.~~71460437~~68857186 13.~~77803123~~17460788 B-3 0.00000000 13.~~77803108~~17460665 ~~714~~688.~~60437430~~57185445 0.~~71460437~~68857185 13.~~77803108~~17460665 B-4 0.00000000 13.~~77803215~~17461276 ~~714~~688.~~60437409~~57185582 0.~~71460437~~68857186 13.~~77803215~~17461276 B-5 0.00000000 13.~~77802910~~17460787 ~~714~~688.~~60437599~~57185724 0.~~71460438~~68857186 13.~~77802910~~17460787 B-6 0.00000000 13.~~77802761~~17460774 ~~714~~688.~~60410775~~57159849 0.~~71460411~~68857160 13.~~77802761~~17460774 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A 16,941,900.00 4.~~40886~~37365% 4,~~624~~474,~~159~~340.1533 16,~~989~~307.4168 0.00 0.00 II-A 59,270,500.00 2.~~69418~~68860% 4844,~~553~~643,~~549~~889.7793 ~~109~~100,~~009~~024.9860 0.00 0.00 III-A 162,837,100.00 43.~~00645~~95835% 2725,~~200~~498,~~666~~250.2186 9084,~~815~~109.0112 0.00 0.00 IV-A 41,028,800.00 7.~~18216~~13809% 1,~~818~~483,~~315~~904.5695 108,~~882~~826.8687 0.00 0.00 B-1 4,985,500.00 3.~~95593~~91048% 3,~~631~~498,~~350~~557.4900 11,~~971~~400.1487 0.00 0.00 B-2 2,932,800.00 3.~~95593~~91048% 2,~~136~~058,~~199~~082.9203 76,~~042~~706.2275 0.00 0.00 B-3 2,052,900.00 3.~~95593~~91048% 1,~~495~~440,~~296~~615.2432 4,~~929~~694.4159 0.00 0.00 B-4 1,026,500.00 3.~~95593~~91048% ~~747~~720,~~684~~342.5475 2,~~464~~347.8241 0.00 0.00 B-5 879,800.00 3.~~95593~~91048% ~~640~~617,~~830~~396.8454 2,~~112~~011.5793 0.00 0.00 B-6 1,319,993.00 3.~~95593~~91048% ~~961~~926,~~459~~300.3208 3,~~169~~018.5657 0.00 0.00 R-I 50.00 6.~~36452~~36465% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36452~~36465% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~259~~239,~~386~~448.9839 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance I-A 0.00 0.00 16,~~989~~307.4168 0.00 4,~~499~~373,~~710~~051.5501 II-A 0.00 0.00 ~~109~~100,~~009~~024.9859 0.00 4543,~~928~~917,~~894~~535.9965 III-A 0.00 0.00 9084,~~815~~109.0111 0.00 2624,~~153,~~035,524.9091 IV-A 0.00 0.00 108,~~882~~826.8687 0.00 1,~~816~~481,~~003~~913.9269 B-1 0.00 0.00 11,~~971~~400.1487 0.00 3,~~562~~432,~~660~~874.1298 B-2 0.00 0.00 76,~~042~~706.2275 0.00 2,~~095~~019,~~791~~443.7154 B-3 0.00 0.00 4,~~929~~694.4159 0.00 1,~~467~~413,~~011~~569.3216 B-4 0.00 0.00 2,~~464~~347.8241 0.00 ~~733~~706,~~541~~819.3901 B-5 0.00 0.00 2,~~112~~011.5793 0.00 ~~628~~605,~~708~~805.9352 B-6 0.00 0.00 3,~~169~~018.5657 0.00 ~~943~~908,~~272~~909.4269 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~259~~239,~~386~~448.9837 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A 16,941,900.00 4.~~40886~~37365% ~~272~~264.~~94218181~~09908747 10.~~00280429~~96256500 0.00000000 0.00000000 II-A 59,270,500.00 2.~~69418~~68860% ~~819~~753.~~18576307~~22276563 1.~~83919454~~68759501 0.00000000 0.00000000 III-A 162,837,100.00 43.~~00645~~95835% ~~167~~156.~~04219253~~58747828 0.~~55770466~~51652308 0.00000000 0.00000000 IV-A 41,028,800.00 7.~~18216~~13809% 4436.~~31802929~~16739827 0.~~26524929~~21513839 0.00000000 0.00000000 B-1 4,985,500.00 3.~~95593~~91048% ~~728~~701.~~38240698~~74646475 2.~~40119146~~28680574 0.00000000 0.00000000 B-2 2,932,800.00 3.~~95593~~91048% ~~728~~701.~~38240589~~74646413 2.~~40119340~~28680783 0.00000000 0.00000000 B-3 2,052,900.00 3.~~95593~~91048% ~~728~~701.~~38240538~~74646597 2.~~40119343~~28680890 0.00000000 0.00000000 B-4 1,026,500.00 3.~~95593~~91048% ~~728~~701.~~38240623~~74646858 2.~~40118850~~28680955 0.00000000 0.00000000 B-5 879,800.00 3.~~95593~~91048% ~~728~~701.~~38240509~~74646511 2.~~40119345~~28680382 0.00000000 0.00000000 B-6 1,319,993.00 3.~~95593~~91048% ~~728~~701.~~38213536~~74620623 2.~~40119455~~28680758 0.00000000 0.00000000 R-I 50.00 6.~~36452~~36465% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36452~~36465% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A 0.00000000 0.00000000 10.~~00280429~~96256500 0.00000000 ~~265~~258.~~59657122~~12045933 II-A 0.00000000 0.00000000 1.~~83919454~~68759484 0.00000000 ~~774~~740.~~90311352~~96786175 III-A 0.00000000 0.00000000 0.~~55770466~~51652302 0.00000000 ~~160~~147.~~60858306~~60472220 IV-A 0.00000000 0.00000000 0.~~26524929~~21513839 0.00000000 4436.~~26168740~~11886504 B-1 0.00000000 0.00000000 2.~~40119146~~28680574 0.00000000 ~~714~~688.~~60437669~~57185438 B-2 0.00000000 0.00000000 2.~~40119340~~28680783 0.00000000 ~~714~~688.~~60437466~~57185625 B-3 0.00000000 0.00000000 2.~~40119343~~28680890 0.00000000 ~~714~~688.~~60437430~~57185445 B-4 0.00000000 0.00000000 2.~~40118850~~28680955 0.00000000 ~~714~~688.~~60437409~~57185582 B-5 0.00000000 0.00000000 2.~~40119345~~28680382 0.00000000 ~~714~~688.~~60437599~~57185724 B-6 0.00000000 0.00000000 2.~~40119455~~28680758 0.00000000 ~~714~~688.~~60410775~~57159849 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 42,~~266~~736,~~574~~937.8481 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 10,~~122~~920.1436 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 42,~~276~~747,~~696~~858.9817 Withdrawals Reimbursement for Servicer Advances 715,~~604~~387.7062 Payment of Service Fee 2826,~~824~~789.5057 Payment of Interest and Principal 42,~~240~~705,~~267~~680.7898 Total Withdrawals (Pool Distribution Amount) 42,~~276~~747,~~696~~858.9817 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2826,~~824~~789.5057 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2826,~~824~~789.5057

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 21 0 0 21 ~~402~~75,~~269~~860.2791 0.00 0.00 ~~402~~75,~~269~~860.2791 30 Days 43 0 0 0 43 1,~~098~~385,~~394~~219.4975 0.00 0.00 0.00 1,~~098~~385,~~394~~219.4975 60 Days 10 0 0 0 10 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0462,078.0023 0.00 0.00 0.00 0462,078.0023 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 21 01 2 0.00 0.00 ~~594~~106,~~422~~160.2041 0488,261.0079 594,422.20 Totals 54 21 21 01 97 1,~~560~~847,~~472~~297.7298 ~~402~~75,~~269~~860.2791 ~~594~~106,~~422~~160.2041 0488,261.0079 2,~~557~~517,~~164~~581.1909 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.~~892857~~476190% 0.000000% 0.000000% 0.~~892857~~476190% 0.~~457579~~091421% 0.000000% 0.000000% 0.~~457579~~091421% 30 Days 1.~~785714~~428571% 0.000000% 0.000000% 0.000000% 1.~~785714~~428571% 1.~~249417~~669347% 0.000000% 0.000000% 0.000000% 1.~~249417~~669347% 60 Days 0.~~446429~~000000% 0.000000% 0.000000% 0.000000% 0.~~446429~~000000% 0.~~525611~~000000% 0.000000% 0.000000% 0.000000% 0.~~525611~~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~~476190% 0.000000% 0.000000% 0.000000% 0.~~000000~~476190% 0.~~000000~~556857% 0.000000% 0.000000% 0.000000% 0.~~000000~~556857% 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.~~892857~~476190% 0.~~000000~~476190% 0.~~892857~~952381% 0.000000% 0.000000% 0.~~676152~~127935% 0.~~000000~~588411% 0.~~676152~~716346% Totals 21.~~232143~~904762% 0.~~892857~~476190% 0.~~892857~~476190% 0.~~000000~~476190% 43.~~017857~~333333% 12.~~775029~~226203% 0.~~457579~~091421% 0.~~676152~~127935% 0.~~000000~~588411% 23.~~908760~~033970%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 12 0 0 0 12 ~~219~~326,~~530~~218.4860 0.00 0.00 0.00 ~~219~~326,~~530~~218.4860 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 12 0 0 0 12 ~~219~~326,~~530~~218.4860 0.00 0.00 0.00 ~~219~~326,~~530~~218.4860 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 36.~~030303~~250000% 0.000000% 0.000000% 0.000000% 36.~~030303~~250000% 46.~~320969~~598700% 0.000000% 0.000000% 0.000000% 46.~~320969~~598700% 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 36.~~030303~~250000% 0.000000% 0.000000% 0.000000% 36.~~030303~~250000% 46.~~320969~~598700% 0.000000% 0.000000% 0.000000% 46.~~320969~~598700% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 10 0 0 10 ~~326,257~~0.5200 0.00 0.00 ~~326,257~~0.5200 30 Days 21 0 0 0 21 ~~823~~1,~~620~~059,001.8615 0.00 0.00 0.00 ~~823~~1,~~620~~059,001.8615 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 1 0 0 30 ~~823~~1 1,~~620~~059,001.8615 ~~326,257~~0.5200 0.00 0.00 1,~~149~~059,~~878~~001.3815 0-29 Days 0.~~970874~~000000% 0.000000% 0.000000% 0.~~970874~~000000% 0.~~672832~~000000% 0.000000% 0.000000% 0.~~672832~~000000% 30 Days 1.~~941748~~030928% 0.000000% 0.000000% 0.000000% 1.~~941748~~030928% 12.~~698532~~281152% 0.000000% 0.000000% 0.000000% 12.~~698532~~281152% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~941748~~030928% 0.~~970874~~000000% 0.000000% 0.000000% 21.~~912621~~030928% 12.~~698532~~281152% 0.~~672832~~000000% 0.000000% 0.000000% 2.~~371365~~281152% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 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 10 0 0 0 10 ~~462,078~~0.2300 0.00 0.00 0.00 ~~462,078~~0.2300 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0462,078.0023 0.00 0.00 0.00 0462,078.0023 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 0.00 488,261.79 ~~0.00~~ 488,261.79 Totals 1 0 1 0 1 2 462,078.23 0.00 0.00 488,261.79 ~~0.00~~ 950,340.02 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 10.~~282051~~000000% 0.000000% 0.000000% 0.000000% 10.~~282051~~000000% 10.~~459493~~000000% 0.000000% 0.000000% 0.000000% 10.~~459493~~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 01.~~000000~~388889% 0.000000% 0.000000% 0.000000% 01.~~000000~~388889% 01.~~000000~~575435% 0.000000% 0.000000% 0.000000% 01.~~000000~~575435% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 10.~~282051~~000000% 01.~~000000~~388889% 1.~~282051~~388889% 0.000000% 0.000000% 10.~~542194~~000000% 01.~~000000~~664706% 1.~~542194~~664706% Totals 1.~~282051~~388889% 0.000000% 10.~~282051~~000000% 01.~~000000~~388889% 2.~~564103~~777778% 1.~~459493~~575435% 0.000000% 10.~~542194~~000000% 01.~~000000~~664706% 3.~~001687~~240141% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 7675,~~011~~860.7591 0.00 0.00 7675,~~011~~860.7591 30 Days 10 0 0 0 10 ~~55,243~~0.1500 0.00 0.00 0.00 ~~55,243~~0.1500 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 1 0 1 0.00 0.00 106,160.41 0.00 106,160.41 Totals 10 1 1 0 32 ~~55,243~~0.1500 7675,~~011~~860.7591 106,160.41 0.00 ~~237~~182,~~415~~021.3132 0-29 Days 1011.~~000000~~111111% 0.000000% 0.000000% 1011.~~000000~~111111% 23.~~834578~~324435% 0.000000% 0.000000% 23.~~834578~~324435% 30 Days 100.000000% 0.000000% 0.000000% 0.000000% 100.000000% 20.~~060090~~000000% 0.000000% 0.000000% 0.000000% 20.~~060090~~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% 1011.~~000000~~111111% 0.000000% 1011.~~000000~~111111% 0.000000% 0.000000% 34.~~958861~~652242% 0.000000% 34.~~958861~~652242% Totals 100.000000% 1011.~~000000~~111111% 1011.~~000000~~111111% 0.000000% 3022.~~000000~~222222% 20.~~060090~~000000% 23.~~834578~~324435% 34.~~958861~~652242% 0.000000% 87.~~853528~~976677%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 10,~~122~~920.1436

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 8378,~~328~~522,~~920~~396.7015 94.~~87671562~~72461859% 5.~~123284~~275381% 0.000000% Class 2A 217,063,493.00 74.01341132% 3734,~~400~~604,~~025~~860.7150 4241.~~58295408~~74518829% 52.~~293762~~979430% ~~486~~483.~~999933~~278273% Class 3A 54,226,393.00 18.48989102% 1110,~~246~~569,~~989~~335.8159 12.~~80560752~~75020035% 2928.~~777347~~994988% ~~277~~264.~~309671~~492231% Class R-I 13,197,543.00 4.50004358% 9,~~430~~087,~~985~~421.8990 10.~~73794019~~96251026% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 9,~~430~~087,~~985~~421.8990 10.~~73794019~~96251026% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 5,~~868~~654,~~325~~546.7792 6.~~68156350~~82129974% 4.~~056377~~141211% 37.776115% Class B-2 5,279,193.00 1.80007738% 3,~~772~~635,~~534~~103.0638 4.~~29533514~~38516650% 2.~~386228~~436133% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~305~~221,~~522~~534.7422 2.~~62502410~~67992308% 1.~~670311~~705243% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~571~~514,~~981~~715.3521 1.~~78982790~~82725983% 0.~~835196~~852663% 7.777993% Class B-5 1,319,993.00 0.45008575% ~~943~~908,~~272~~909.4269 1.~~07399194~~09645309% 0.~~715836~~730807% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~073992~~096453% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 3.~~767341~~742728% Weighted Average Net Coupon 3.~~390589~~366125% Weighted Average Pass-Through Rate 3.~~390589~~366125% Weighted Average Maturity(Stepdown Calculation ) ~~324~~322 Beginning Scheduled Collateral Loan Count ~~231~~217 Number Of Loans Paid In Full 7 Ending Scheduled Collateral Loan Count ~~224~~210 Beginning Scheduled Collateral Balance 9185,~~809~~361,~~512~~679.0577 Ending Scheduled Collateral Balance 8782,~~828~~895,~~631~~447.2516 Ending Actual Collateral Balance at 30-~~Apr~~Jun-2004 8782,~~912~~979,~~529~~756.0002 Monthly P &I Constant ~~379~~354,~~465~~536.8224 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 42,~~026~~501,~~742~~629.6007 Ending Scheduled Balance for Premium Loans 8782,~~828~~895,~~631~~447.2516 Scheduled Principal 9188,~~234~~298.3730 Unscheduled Principal 32,~~889~~377,~~646~~934.4331

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 4.~~788482~~748654 3.~~069179~~063599 4.~~381446~~333348 Weighted Average Net Rate 4.~~413480~~373655 2.~~694179~~688599 43.~~006446~~958347 Weighted Average Maturity ~~257~~255 ~~269~~267 ~~324~~322 Beginning Loan Count 3433 ~~106~~99 8176 Loans Paid In Full 1 32 34 Ending Loan Count 3332 ~~103~~97 7872 Beginning Scheduled Balance 5,~~191~~030,~~461~~243.9463 5147,~~184~~170,~~034~~294.9051 3230,~~753~~880,~~526~~397.0900 Ending scheduled Balance 54,~~058~~921,~~454~~665.6411 4846,~~490~~423,~~157~~953.3151 3129,~~602~~272,~~904~~106.6982 Record Date 0406/30/2004 0406/30/2004 0406/30/2004 Principal And Interest Constant 4443,~~352~~243.2193 ~~130~~120,~~910~~425.8272 ~~183~~173,~~953~~590.6827 Scheduled Principal 23,~~636~~338.19 0.00 6462,~~363~~077.8336 Unscheduled Principal ~~109~~85,~~371~~240.1133 2746,~~693,877~~341.5900 1,~~086~~546,~~257~~212.5782 Scheduled Interest 2019,~~716~~905.0274 ~~130~~120,~~910~~425.8272 ~~119~~111,~~589~~512.8591 Servicing Fees 1,~~622~~571.3495 1514,~~995~~740.0172 109,~~235~~650.4813 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 1918,~~093~~333.6879 ~~114~~105,~~915~~685.8100 ~~109~~101,~~354~~862.3778 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.~~413482~~373654 2.~~694179~~688599 43.~~006446~~958348

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~617159~~573090 3.~~767341~~742728 Weighted Average Net Rate 7.~~182162~~138090 3.~~390589~~366125 Weighted Average Maturity ~~324~~322 ~~324~~322 Beginning Loan Count 109 ~~231~~217 Loans Paid In Full 0 7 Ending Loan Count 109 ~~224~~210 Beginning Scheduled Balance 2,~~680~~280,~~489~~744.1263 9185,~~809~~361,~~512~~679.0577 Ending scheduled Balance 2,~~677~~277,~~114~~721.6172 8782,~~828~~895,~~631~~447.2516 Record Date 0406/30/2004 0406/30/2004 Principal And Interest Constant 2017,~~249~~276.1132 ~~379~~354,~~465~~536.8224 Scheduled Principal 32,~~234~~882.3575 9188,~~234~~298.3730 Unscheduled Principal 140.16 32,~~889~~377,~~646~~934.4331 Scheduled Interest 1714,~~014~~393.7657 ~~288~~266,~~231~~237.4594 Servicing Fees ~~971~~826.6777 2826,~~824~~789.5057 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1613,~~043~~566.0980 ~~259~~239,~~406~~448.9537 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~182159~~138090 3.~~390589~~366125

Miscellaneous Reporting Group Group I Senior Percentage Group I 8988.~~072389~~948780% Senior Prep. Percentage Group I 94.~~536194~~474390% Subordinate Percentage Group I 1011.~~927611~~051220% Subordinate Prep. Percentage Group I 5.~~463806~~525610% Group Group II Senior Percentage Group II 94.~~860731~~644077% Senior Prep. Percentage Group II 97.~~430366~~322039% Subordinate Percentage Group II 5.~~139269~~355923% Subordinate Prep. Percentage Group II 2.~~569634~~677961% Group Group III Senior Percentage Group III 8382.~~046528~~570994% Senior Prep. Percentage Group III 91.~~523264~~285497% Subordinate Percentage Group III 1617.~~953472~~429006% Subordinate Prep. Percentage Group III 8.~~476736~~714503%

Miscellaneous Reporting Group Group IV Senior Percentage Group IV 6765.~~835215~~062302% Senior Prep. Percentage Group IV 8382.~~917608~~531151% Subordinate Percentage Group IV 3234.~~164785~~937698% Subordinate Prep. Percentage Group IV 1617.~~082392~~468849%

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