8-K 1 bsl03007_aug.txt AUGUST 8K 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): August 25, 2004 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-12 54-2139195 Pooling and Servicing Agreement) (Commission 54-2139196 (State or other File Number) 54-2139197 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2004 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2003-7 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-7 Trust, relating to the August 25, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-7 Trust (Registrant) 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: 8/30/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-7 Trust, relating to the August 25, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 27/2931/~~2004~~04 Distribution Date: 38/25/~~2004~~04 BSL Series: 2003-7 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-1 07386HEQ0 SEN 1.~~49000~~85000% ~~276~~235,~~246~~422,~~300~~390.2559 ~~331~~362,~~572~~942.3285 412,~~435~~278,~~853~~801.5023 II-A-1 07386HER8 SEN 1.~~41000~~77000% ~~110~~67,~~959~~499,~~416~~488.3173 ~~126~~99,~~031~~561.4174 76,~~107~~622,~~116~~629.6585 II-A-2 07386HES6 SEN 1.~~37000~~73000% ~~129~~78,~~578~~826,~~583~~010.9194 ~~143~~113,~~004~~640.3783 87,~~299~~733,~~702~~917.2074 M-1 07386HET4 SUB 12.~~74000~~10000% 14,581,500.00 2025,~~438~~517.4062 0.00 M-2 07386HEU1 SUB 2.~~44000~~80000% 8,748,900.00 1720,~~196~~414.4510 0.00 B 07386HEV9 SUB 3.~~59000~~95000% 5,832,600.00 1619,~~867~~198.5697 0.00 B-IO BSL030071 SEN 0.00000% 0.00 1,~~138~~314,~~592~~270.1857 0.00 X BSL030072 SEN 0.00000% 2,~~043~~916,~~911~~293.0800 0.00 0.00 XP BSL030073 SEN 0.00000% 100.00 2870,~~482~~656.5532 0.00 R-1 BSL030074 RES 0.00000% 0.00 0.00 0.00 R-2 BSL030075 RES 0.00000% 0.00 0.00 0.00 R-3 BSL030076 RES 0.00000% 0.00 0.00 0.00 Totals ~~547~~413,~~991~~827,~~311~~283.5526 12,~~822~~026,~~185~~203.2400 1926,~~842~~635,~~672~~348.3582

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~271~~223,~~810~~143,~~446~~589.7536 412,~~767~~641,~~425~~744.8208 0.00 II-A-1 0.00 ~~103~~60,~~852~~876,~~299~~858.6688 76,~~233~~722,~~148~~191.0659 0.00 II-A-2 0.00 ~~121~~71,~~278~~092,~~881~~093.7120 87,~~442~~847,~~706~~558.57 0.00 M-1 0.00 14,581,500.00 2025,~~438~~517.4062 0.00 M-2 0.00 8,748,900.00 1720,~~196~~414.4510 0.00 B 0.00 5,832,600.00 1619,~~867~~198.5697 0.00 B-IO 0.00 0.00 1,~~138~~314,~~592~~270.1857 0.00 X 0.00 2,916,293.00 0.00 0.00 XP 0.00 100.00 2870,~~482~~656.5532 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~529~~387,~~021~~191,~~021~~934.1244 2128,~~664~~661,~~857~~551.5982 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-1 283,120,300.00 ~~276~~235,~~246~~422,~~300~~390.2559 0.00 412,~~435~~278,~~853~~801.5023 0.00 0.00 II-A-1 125,000,000.00 ~~110~~67,~~959~~499,~~416~~488.3173 0.00 76,~~107~~622,~~116~~629.6585 0.00 0.00 II-A-2 145,975,200.00 ~~129~~78,~~578~~826,~~583~~010.9194 0.00 87,~~299~~733,~~702~~917.2074 0.00 0.00 M-1 14,581,500.00 14,581,500.00 0.00 0.00 0.00 0.00 M-2 8,748,900.00 8,748,900.00 0.00 0.00 0.00 0.00 B 5,832,600.00 5,832,600.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 X 37.13 2,~~043~~916,~~911~~293.0800 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~547~~413,~~991~~827,~~311~~283.5526 0.00 1926,~~842~~635,~~672~~348.3582 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-1 412,~~435~~278,~~853~~801.5023 ~~271~~223,~~810~~143,~~446~~589.7536 0.~~96005284~~78815821 412,~~435~~278,~~853~~801.5023 II-A-1 76,~~107~~622,~~116~~629.6585 ~~103~~60,~~852~~876,~~299~~858.6688 0.~~83081840~~48701487 76,~~107~~622,~~116~~629.6585 II-A-2 87,~~299~~733,~~702~~917.2074 ~~121~~71,~~278~~092,~~881~~093.7120 0.~~83081840~~48701487 87,~~299~~733,~~702~~917.2074 M-1 0.00 14,581,500.00 1.00000000 0.00 M-2 0.00 8,748,900.00 1.00000000 0.00 B 0.00 5,832,600.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 X 0.00 2,916,293.00 78,542.76865069 0.00 XP 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 1926,~~842~~635,~~672~~348.3582 ~~529~~387,~~021~~191,~~021~~934.1244 0.~~90700932~~66384261 1926,~~842~~635,~~672~~348.3582

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 283,120,300.00 ~~975~~831.~~72056914~~52776608 0.00000000 1543.~~66773382~~36955432 0.00000000 II-A-1 125,000,000.00 ~~887~~539.~~67533048~~99590984 0.00000000 5652.~~85693320~~98103880 0.00000000 II-A-2 145,975,200.00 ~~887~~539.~~67533054~~99590985 0.00000000 5652.~~85693323~~98103883 0.00000000 M-1 14,581,500.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 8,748,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 5,832,600.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 37.13 ~~55047430~~78542768.~~11042280~~65068680 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 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-1 0.00000000 1543.~~66773382~~36955432 ~~960~~788.~~05283531~~15821176 0.~~96005284~~78815821 1543.~~66773382~~36955432 II-A-1 0.00000000 5652.~~85693320~~98103880 ~~830~~487.~~81839728~~01487104 0.~~83081840~~48701487 5652.~~85693320~~98103880 II-A-2 0.00000000 5652.~~85693323~~98103883 ~~830~~487.~~81839730~~01487102 0.~~83081840~~48701487 5652.~~85693323~~98103883 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 78,542,768.65068680 78542.76865069 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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-1 283,120,300.00 1.~~49000~~85000% ~~276~~235,~~246~~422,~~300~~390.2559 ~~331~~362,~~572~~942.3085 0.00 0.00 II-A-1 125,000,000.00 1.~~41000~~77000% ~~110~~67,~~959~~499,~~416~~488.3173 ~~126~~99,~~031~~561.4075 0.00 0.00 II-A-2 145,975,200.00 1.~~37000~~73000% ~~129~~78,~~578~~826,~~583~~010.9194 ~~143~~113,~~004~~640.3683 0.00 0.00 M-1 14,581,500.00 12.~~74000~~10000% 14,581,500.00 2025,~~438~~517.4063 0.00 0.00 M-2 8,748,900.00 2.~~44000~~80000% 8,748,900.00 1720,~~196~~414.4510 0.00 0.00 B 5,832,600.00 3.~~59000~~95000% 5,832,600.00 1619,~~867~~198.5697 0.00 0.00 B-IO 0.00 0.00000% ~~547~~413,~~991~~827,~~211~~183.5526 0.00 0.00 0.00 X 37.13 0.00000% 2,~~043~~916,~~911~~293.0800 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 583,258,637.13 ~~655~~641,~~110~~276.4713 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 0.00 0.00 ~~331~~362,~~572~~942.3285 0.00 ~~271~~223,~~810~~143,~~446~~589.7536 II-A-1 0.00 0.00 ~~126~~99,~~031~~561.4174 0.00 ~~103~~60,~~852~~876,~~299~~858.6688 II-A-2 0.00 0.00 ~~143~~113,~~004~~640.3783 0.00 ~~121~~71,~~278~~092,~~881~~093.7120 M-1 0.00 0.00 2025,~~438~~517.4062 0.00 14,581,500.00 M-2 0.00 0.00 1720,~~196~~414.4510 0.00 8,748,900.00 B 0.00 0.00 1619,~~867~~198.5697 0.00 5,832,600.00 B-IO 0.00 0.00 1,~~138~~314,~~592~~270.1857 0.00 ~~529~~387,~~020~~191,~~921~~834.1244 X 0.00 0.00 0.00 0.00 2,916,293.00 XP 0.00 0.00 2870,~~482~~656.5532 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 12,~~822~~026,~~185~~203.2400 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-1 283,120,300.00 1.~~49000~~85000% ~~975~~831.~~72056914~~52776608 1.~~17113573~~28193863 0.00000000 0.00000000 II-A-1 125,000,000.00 1.~~41000~~77000% ~~887~~539.~~67533048~~99590984 10.~~00825120~~79649400 0.00000000 0.00000000 II-A-2 145,975,200.00 1.~~37000~~73000% ~~887~~539.~~67533054~~99590985 0.~~97964832~~77849409 0.00000000 0.00000000 M-1 14,581,500.00 12.~~74000~~10000% 1000.00000000 1.~~40166650~~75000034 0.00000000 0.00000000 M-2 8,748,900.00 2.~~44000~~80000% 1000.00000000 12.~~96555567~~33333333 0.00000000 0.00000000 B 5,832,600.00 3.~~59000~~95000% 1000.00000000 23.~~89194527~~29166581 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~939~~709.~~53397450~~50900315 0.00000000 0.00000000 0.00000000 X 37.13 0.00000% ~~55047430~~78542768.~~11042280~~65068680 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 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-1 0.00000000 0.00000000 1.~~17113580~~28193863 0.00000000 ~~960~~788.~~05283531~~15821176 II-A-1 0.00000000 0.00000000 10.~~00825128~~79649392 0.00000000 ~~830~~487.~~81839728~~01487104 II-A-2 0.00000000 0.00000000 0.~~97964839~~77849409 0.00000000 ~~830~~487.~~81839730~~01487102 M-1 0.00000000 0.00000000 1.~~40166650~~74999966 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 12.~~96555567~~33333333 0.00000000 1000.00000000 B 0.00000000 0.00000000 23.~~89194527~~29166581 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 12.~~95212261~~25332419 0.00000000 ~~907~~663.~~00930624~~84254973 X 0.00000000 0.00000000 0.00000000 0.00000000 78542768.65068680 XP 0.00000000 0.00000000 ~~284825~~706563.~~50000000~~20000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 2128,~~837~~796,~~662~~939.5254 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~144~~35,~~307~~809.1109 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2128,~~981~~832,~~969~~748.63 Withdrawals Reimbursement for Servicer Advances ~~148~~43,~~380~~391.9163 Payment of Service Fee ~~168~~127,~~731~~805.1318 Payment of Interest and Principal 2128,~~664~~661,~~857~~551.5982 Total Withdrawals (Pool Distribution Amount) 2128,~~981~~832,~~969~~748.63 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~128~~92,~~794~~968.5545 Additional Servicing Fee 3934,~~936~~836.5873 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~168~~127,~~731~~805.1318

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 1 0 0 1 ~~425~~423,~~991~~080.6370 0.00 0.00 ~~425~~423,~~991~~080.6370 30 Days 688 0 0 0 688 172,~~462~~262,~~901~~384.9946 0.00 0.00 0.00 172,~~462~~262,~~901~~384.9946 60 Days 182 01 0 0 183 4608,~~295,312~~198.6298 0152,949.0098 0.00 0.00 4761,~~295,312~~148.6296 90 Days 51 0 0 0 5 1 352,~~420,027~~298.3297 0.00 0.00 0.00 1352,~~420,027~~298.3297 120 Days 31 0 0 0 31 ~~593~~379,~~346~~614.4986 0.00 0.00 0.00 ~~593~~379,~~346~~614.4986 150 Days 0 01 01 01 03 0.00 094,500.00 0360,000.00 0143,979.0074 0598,479.0074 180+ Days 02 0 03 02 07 0305,350.00 0.00 0759,503.0046 0593,109.0089 01,657,963.0035 Totals 9414 13 04 03 9524 233,~~771~~907,~~588~~847.4227 ~~425~~670,~~991~~530.6368 01,119,503.0046 0737,089.0063 246,~~197~~434,~~580~~971.0504 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.~~054466~~069444% 0.000000% 0.000000% 0.~~054466~~069444% 0.~~080478~~109211% 0.000000% 0.000000% 0.~~080478~~109211% 30 Days 30.~~703704~~555556% 0.000000% 0.000000% 0.000000% 30.~~703704~~555556% 30.~~299066~~583994% 0.000000% 0.000000% 0.000000% 30.~~299066~~583994% 60 Days 0.~~980392~~138889% 0.~~000000~~069444% 0.000000% 0.000000% 0.~~980392~~208333% 0.~~811464~~156996% 0.~~000000~~039481% 0.000000% 0.000000% 0.~~811464~~196477% 90 Days 0.~~272331~~069444% 0.000000% 0.000000% 0.000000% 0.~~272331~~069444% 0.~~268269~~090940% 0.000000% 0.000000% 0.000000% 0.~~268269~~090940% 120 Days 0.~~163399~~069444% 0.000000% 0.000000% 0.000000% 0.~~163399~~069444% 0.~~112094~~097991% 0.000000% 0.000000% 0.000000% 0.~~112094~~097991% 150 Days 0.000000% 0.~~000000~~069444% 0.~~000000~~069444% 0.~~000000~~069444% 0.~~000000~~208333% 0.000000% 0.~~000000~~024393% 0.~~000000~~092928% 0.~~000000~~037166% 0.~~000000~~154487% 180+ Days 0.~~000000~~138889% 0.000000% 0.~~000000~~208333% 0.~~000000~~138889% 0.~~000000~~486111% 0.~~000000~~078821% 0.000000% 0.~~000000~~196052% 0.~~000000~~153101% 0.~~000000~~427973% Totals 50.~~119826~~972222% 0.~~054466~~208333% 0.~~000000~~277778% 0.~~000000~~208333% 51.~~174292~~666667% 41.~~490893~~008741% 0.~~080478~~173085% 0.~~000000~~288980% 0.~~000000~~190266% 41.~~571371~~661072%

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 496 0 0 0 496 101,~~054~~549,~~963~~287.2115 0.00 0.00 0.00 101,~~054~~549,~~963~~287.2115 60 Days 142 01 0 0 143 2608,~~767,196~~198.0898 0152,949.0098 0.00 0.00 2761,~~767,196~~148.0896 90 Days 41 0 0 0 4 1 352,~~060,027~~298.3297 0.00 0.00 0.00 1352,~~060,027~~298.3297 120 Days 30 0 0 0 30 ~~593,346~~0.4900 0.00 0.00 0.00 ~~593,346~~0.4900 150 Days 0 01 0 01 02 0.00 094,500.00 0.00 0143,979.0074 0238,479.0074 180 Days 02 0 03 02 07 0305,350.00 0.00 0759,503.0046 0593,109.0089 01,657,963.0035 Totals 7011 02 03 03 7019 142,~~475~~815,~~533~~135.10 0247,449.0098 0759,503.0046 0737,089.0063 144,~~475~~559,~~533~~178.1017 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 30.~~916867~~564440% 0.000000% 0.000000% 0.000000% 30.~~916867~~564440% 30.~~496990~~648645% 0.000000% 0.000000% 0.000000% 30.~~496990~~648645% 60 Days 10.~~119105~~188147% 0.~~000000~~094073% 0.000000% 0.000000% 10.~~119105~~282220% 0.~~962396~~254637% 0.~~000000~~064036% 0.000000% 0.000000% 0.~~962396~~318673% 90 Days 0.~~319744~~094073% 0.000000% 0.000000% 0.000000% 0.~~319744~~094073% 0.~~368664~~147498% 0.000000% 0.000000% 0.000000% 0.~~368664~~147498% 120 Days 0.~~239808~~000000% 0.000000% 0.000000% 0.000000% 0.~~239808~~000000% 0.~~206358~~000000% 0.000000% 0.000000% 0.000000% 0.~~206358~~000000% 150 Days 0.000000% 0.~~000000~~094073% 0.000000% 0.~~000000~~094073% 0.~~000000~~188147% 0.000000% 0.~~000000~~039565% 0.000000% 0.~~000000~~060280% 0.~~000000~~099845% 180 Days 0.~~000000~~188147% 0.000000% 0.~~000000~~282220% 0.~~000000~~188147% 0.~~000000~~658514% 0.~~000000~~127842% 0.000000% 0.~~000000~~317984% 0.~~000000~~248319% 0.~~000000~~694145% Totals 51.~~595524~~034807% 0.~~000000~~188147% 0.~~000000~~282220% 0.~~000000~~282220% 51.~~595524~~787394% 51.~~034409~~178622% 0.~~000000~~103601% 0.~~000000~~317984% 0.~~000000~~308600% 51.~~034409~~908807% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 1 0 0 1 ~~425~~423,~~991~~080.6370 0.00 0.00 ~~425~~423,~~991~~080.6370 30 Days 192 0 0 0 192 7713,~~407,938~~097.7831 0.00 0.00 0.00 7713,~~407,938~~097.7831 60 Days 40 0 0 0 40 ~~1,528,116~~0.5400 0.00 0.00 0.00 ~~1,528,116~~0.5400 90 Days 10 0 0 0 10 ~~360,000~~0.00 0.00 0.00 0.00 ~~360,000~~0.00 120 Days 01 0 0 0 01 0379,614.0086 0.00 0.00 0.00 0379,614.0086 150 Days 0 0 01 0 01 0.00 0.00 0360,000.00 0.00 0360,000.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 243 1 01 0 255 91,~~296~~092,~~055~~712.3217 ~~425~~423,~~991~~080.6370 0360,000.00 0.00 91,~~722~~875,~~046~~792.9587 0-29 Days 0.~~170940~~265252% 0.000000% 0.000000% 0.~~170940~~265252% 0.~~176178~~284809% 0.000000% 0.000000% 0.~~176178~~284809% 30 Days 30.~~247863~~530504% 0.000000% 0.000000% 0.000000% 30.~~247863~~530504% 30.~~063705~~480042% 0.000000% 0.000000% 0.000000% 30.~~063705~~480042% 60 Days 0.~~683761~~000000% 0.000000% 0.000000% 0.000000% 0.~~683761~~000000% 0.~~631984~~000000% 0.000000% 0.000000% 0.000000% 0.~~631984~~000000% 90 Days 0.~~170940~~000000% 0.000000% 0.000000% 0.000000% 0.~~170940~~000000% 0.~~148885~~000000% 0.000000% 0.000000% 0.000000% 0.~~148885~~000000% 120 Days 0.~~000000~~265252% 0.000000% 0.000000% 0.000000% 0.~~000000~~265252% 0.~~000000~~255549% 0.000000% 0.000000% 0.000000% 0.~~000000~~255549% 150 Days 0.000000% 0.000000% 0.~~000000~~265252% 0.000000% 0.~~000000~~265252% 0.000000% 0.000000% 0.~~000000~~242344% 0.000000% 0.~~000000~~242344% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 40.~~102564~~795756% 0.~~170940~~265252% 0.~~000000~~265252% 0.000000% 41.~~273504~~326260% 30.~~844574~~735590% 0.~~176178~~284809% 0.~~000000~~242344% 0.000000% 41.~~020751~~262743%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~144~~35,~~307~~809.1109

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~207725~~063644% Weighted Average Net Coupon 5.~~925689~~794058% Weighted Average Pass-Through Rate 5.~~838235~~693040% Weighted Average Maturity(Stepdown Calculation ) ~~343~~338 Beginning Scheduled Collateral Loan Count 1,~~885~~521 Number Of Loans Paid In Full 4981 Ending Scheduled Collateral Loan Count 1,~~836~~440 Beginning Scheduled Collateral Balance ~~547~~413,~~991~~827,~~211~~183.5526 Ending Scheduled Collateral Balance ~~529~~387,~~020~~191,~~921~~834.1244 Ending Actual Collateral Balance at 2931-~~Feb~~Jul-2004 ~~529~~387,~~328~~398,~~711~~659.5986 Monthly P &I Constant 32,~~217~~377,~~655~~035.7325 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~529~~387,~~020~~191,~~921~~834.1244 Scheduled Principal ~~382~~285,~~840~~951.0428 Unscheduled Principal 1826,~~587~~349,~~450~~397.3954 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,916,293.00 Overcollateralized Amount 2,916,293.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~872,381~~0.9200 Excess Cash Amount 21,~~010~~314,~~974~~270.1456

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 65.~~016390~~861978 6.~~425423~~374597 6.~~207725~~063644 Weighted Average Net Rate 5.~~805563~~653345 6.~~062366~~011026 5.~~925689~~794058 Weighted Average Maturity ~~354~~349 ~~331~~326 ~~343~~338 Beginning Loan Count 1,~~270~~110 ~~615~~411 1,~~885~~521 Loans Paid In Full 1947 3034 4981 Ending Loan Count 1,~~251~~063 ~~585~~377 1,~~836~~440 Beginning Scheduled Balance ~~291~~251,~~654~~026,~~982~~094.5593 ~~256~~162,~~336~~801,~~229~~088.0033 ~~547~~413,~~991~~827,~~211~~183.5526 Ending scheduled Balance ~~287~~238,~~414~~747,~~151~~293.0970 ~~241~~148,~~606~~444,~~770~~540.0374 ~~529~~387,~~020~~191,~~921~~834.1244 Record Date 0207/2931/2004 0207/2931/2004 0207/2931/2004 Principal And Interest Constant 1,~~590~~337,~~752~~738.2557 1,~~626~~039,~~903~~296.4868 32,~~217~~377,~~655~~035.7325 Scheduled Principal ~~128~~111,~~493~~480.8477 ~~254~~174,~~346~~470.2051 ~~382~~285,~~840~~951.0428 Unscheduled Principal 412,~~112~~167,~~337~~320.6246 14,~~475~~182,~~112~~077.7708 1826,~~587~~349,~~450~~397.3954 Scheduled Interest 1,~~462~~226,~~258~~257.4180 1864,~~372,557~~826.2817 2,~~834~~091,~~815~~083.6997 Servicing Fees 5143,~~240~~643.5559 7749,~~554~~324.0086 ~~128~~92,~~794~~968.5545 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 3934,~~936~~836.5873 0.00 3934,~~936~~836.5873 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 1,~~371~~147,~~081~~777.2848 1815,~~295,003~~501.2831 21,~~666~~963,~~084~~278.5679 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.~~641246~~486812 6.~~062366~~011026 5.~~838235~~693040

Filing Compare · BEAR STEARNS ALT A MORT PASS THR CERTS SER 2003-7