8-K 1 bsl04001_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 2004-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-15 54-2144744 Pooling and Servicing Agreement) (Commission 54-2144745 (State or other File Number) 54-2144756 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 2004-1 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 2004-1 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 2004-1 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: 8/31/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-1 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: 2004-1 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 07386HFE6 SEN 2.~~91766~~89412% 4737,~~385~~758,~~100~~016.0073 ~~115~~90,~~211~~758.2152 ~~799~~3,~~983~~124,540.3632 I-X-A-1 07386HFF3 SEN 2.46200% 0.00 9777,~~218~~207.43 0.00 I-A-2 07386HFG1 SEN 4.~~69366~~67012% 7560,~~944~~515,~~400~~012.0064 ~~297~~234,~~047~~721.4453 15,~~282~~007,~~138~~720.3956 I-X-A-2 07386HFH9 SEN 0.68600% 0.00 4334,~~414~~478.8856 0.00 II-A-1 07386HFK2 SEN 3.~~76525~~75007% 7259,~~786~~980,~~400~~812.0044 ~~228~~187,~~382~~031.6530 1,~~429~~963,~~133~~380.8753 II-X-A-1 07386HFR7 SEN 1.69800% 0.00 ~~102~~84,~~992~~686.7615 0.00 II-A-2 07386HFS5 SEN 3.~~74725~~73207% 2419,~~262~~993,~~100~~576.0068 7562,~~763~~044.5144 ~~476~~654,~~377~~459.3028 II-X-A-2 07386HFT3 SEN 1.71600% 0.00 3428,~~694~~527.8092 0.00 II-A-3 07386HFU0 SEN 4.~~27425~~25907% 8268,~~546~~023,~~700~~945.0082 ~~294~~240,~~021~~901.2030 12,~~620~~226,~~773~~660.7325 II-X-A-3 07386HFV8 SEN 1.18900% 0.00 8167,~~790~~252.0213 0.00 III-A-1 07386HFW6 SEN 4.~~58718~~57305% 1311,~~851~~267,~~300~~362.0002 5241,~~948~~751.6500 631,~~876~~981.5565 III-X-A-1 07386HFX4 SEN 1.14200% 0.00 1310,~~181~~426.8222 0.00 IV-A-1 07386HFY2 SEN 3.~~60735~~59370% 8778,~~049~~528,~~000~~696.0072 ~~261~~234,~~680~~163.2974 ~~649~~1,~~024~~372,298.2977 IV-X-A-1 07386HFZ9 SEN 1.70100% 0.00 ~~123~~110,~~391~~836.9618 0.00 V-A-1 07386HFJ5 SEN 5.~~47891~~47019% ~~150~~139,~~700~~353,~~000~~637.0049 ~~688~~633,~~059~~743.8998 ~~200~~4,~~373~~234,201.6877 R 07386HFL0 RES 0.00000% ~~100~~0.00 0.00 ~~100~~0.00 M 07386HFM8 SUB 5.~~43124~~41622% 17,~~559~~542,~~900~~178.0017 7978,~~476~~902.7267 3,~~522~~557.3568 B-1 07386HFN6 SUB 5.~~43124~~41622% 14,~~787~~772,~~400~~476.0024 66,~~928~~444.2987 2,~~966~~995.2197 B-2 07386HFP1 SUB 5.~~43124~~41622% 10,~~782~~771,~~300~~418.0027 48,~~801~~448.0758 2,~~162~~184.8352 B-3 07386HFQ9 SUB 5.~~43124~~41622% 7,~~393~~386,~~700~~238.0012 33,~~464~~222.1444 1,~~483~~497.1198 B-4 07386HGA3 SUB 5.~~43124~~41622% 6,~~469~~463,~~600~~070.0074 29,~~281~~070.6414 1,~~297~~310.7476 B-5 07386HGB1 SUB 5.~~43124~~41622% 2,~~772~~769,~~400~~602.0003 12,~~547~~457.9835 ~~556~~561.1270 B-6 07386HGC9 SUB 5.~~43124~~41622% 1,~~848~~846,~~793~~927.0017 8,~~367~~307.7026 ~~370~~374.8557 Totals ~~616~~536,~~139~~972,~~193~~971.0028 2,~~788~~415,~~667~~383.0571 618,~~477~~627,~~140~~726.3831

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 4634,~~585~~633,~~116~~476.6441 ~~915~~3,~~194~~215,298.5784 0.00 I-X-A-1 0.00 0.00 9777,~~218~~207.43 0.00 I-A-2 0.00 7455,~~662~~507,~~261~~292.6108 15,~~579~~242,~~185~~442.8309 0.00 I-X-A-2 0.00 0.00 4334,~~414~~478.8856 0.00 II-A-1 0.00 7158,~~357~~017,~~266~~431.1391 12,~~657~~150,~~516~~411.5283 0.00 II-X-A-1 0.00 0.00 ~~102~~84,~~992~~686.7615 0.00 II-A-2 0.00 2319,~~785~~339,~~722~~117.7040 ~~552~~716,~~140~~503.8172 0.00 II-X-A-2 0.00 0.00 3428,~~694~~527.8092 0.00 II-A-3 0.00 8065,~~925~~797,~~926~~285.2757 12,~~914~~467,~~794~~561.9355 0.00 II-X-A-3 0.00 0.00 8167,~~790~~252.0213 0.00 III-A-1 0.00 1311,~~844~~235,~~423~~380.4537 5973,~~825~~732.2065 0.00 III-X-A-1 0.00 0.00 1310,~~181~~426.8222 0.00 IV-A-1 0.00 8677,~~399~~156,~~975~~397.7195 ~~910~~1,~~704~~606,462.5851 0.00 IV-X-A-1 0.00 0.00 ~~123~~110,~~391~~836.9618 0.00 V-A-1 0.00 ~~150~~135,~~499~~119,~~626~~435.3272 ~~888~~4,~~433~~867,945.5775 0.00 R 0.00 0.00 ~~100~~0.00 0.00 M 0.00 17,~~556~~538,~~377~~620.6549 82,~~999~~460.0735 0.00 B-1 0.00 14,~~784~~769,~~433~~480.7927 69,~~894~~440.5084 0.00 B-2 0.00 10,~~780~~769,~~137~~233.1775 50,~~963~~633.9010 0.00 B-3 0.00 7,~~392~~384,~~216~~740.8914 34,~~947~~720.2542 0.00 B-4 0.00 6,~~468~~461,~~302~~759.2698 30,~~579~~380.3890 0.00 B-5 0.00 2,~~771~~769,~~843~~040.8834 13,~~104~~019.1005 0.00 B-6 0.00 1,~~848~~846,~~422~~552.1560 8,~~738~~681.5583 0.00 Totals 0.00 ~~609~~518,~~662~~345,~~052~~244.6298 921,~~265~~043,~~807~~110.4302 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 47,385,100.00 4737,~~385~~758,~~100~~016.0073 65,~~217~~046.1607 ~~793~~3,~~766~~119,494.1925 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 I-A-2 75,944,400.00 7560,~~944~~515,~~400~~012.0064 98,~~964~~087.2937 14,~~272~~999,~~174~~633.1119 0.00 0.00 I-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 72,786,400.00 7259,~~786~~980,~~400~~812.0044 129,~~556~~617.9089 1,~~416~~953,~~576~~762.9764 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 24,262,100.00 2419,~~262~~993,~~100~~576.0068 43,~~185~~205.6396 ~~472~~651,~~191~~253.6832 0.00 0.00 II-X-A-2 0.00 0.00 0.00 0.00 0.00 0.00 II-A-3 82,546,700.00 8268,~~546~~023,~~700~~945.0082 1410,~~240~~907.7260 12,~~606~~215,~~533~~752.0165 0.00 0.00 II-X-A-3 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 13,851,300.00 1311,~~851~~267,~~300~~362.0002 2,~~378~~387.1281 429,~~498~~593.4384 0.00 0.00 III-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 IV-A-1 87,049,000.00 8778,~~049~~528,~~000~~696.0072 1918,~~621~~743.2906 ~~629~~1,~~403~~353,555.0071 0.00 0.00 IV-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 V-A-1 150,700,000.00 ~~150~~139,~~700~~353,~~000~~637.0049 4240,~~068~~205.4964 ~~158~~4,~~305~~193,996.1913 0.00 0.00 R 100.00 ~~100~~0.00 0.00 ~~100~~0.00 0.00 0.00 M 17,559,900.00 17,~~559~~542,~~900~~178.0017 3,~~522~~557.3568 0.00 0.00 0.00 B-1 14,787,400.00 14,~~787~~772,~~400~~476.0024 2,~~966~~995.2197 0.00 0.00 0.00 B-2 10,782,300.00 10,~~782~~771,~~300~~418.0027 2,~~162~~184.8352 0.00 0.00 0.00 B-3 7,393,700.00 7,~~393~~386,~~700~~238.0012 1,~~483~~497.1198 0.00 0.00 0.00 B-4 6,469,600.00 6,~~469~~463,~~600~~070.0074 1,~~297~~310.7476 0.00 0.00 0.00 B-5 2,772,400.00 2,~~772~~769,~~400~~602.0003 ~~556~~561.1270 0.00 0.00 0.00 B-6 1,848,793.00 1,~~848~~846,~~793~~927.0017 ~~370~~374.8557 0.00 0.00 0.00 Totals 616,139,193.00 ~~616~~536,~~139~~972,~~193~~971.0028 ~~123~~110,~~591~~684.8158 618,~~353~~517,~~548~~041.5873 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 ~~799~~3,~~983~~124,540.3632 4634,~~585~~633,~~116~~476.6441 0.~~98311741~~73089381 ~~799~~3,~~983~~124,540.3632 I-X-A-1 0.00 0.00 0.00000000 0.00 I-A-2 15,~~282~~007,~~138~~720.3956 7455,~~662~~507,~~261~~292.6108 0.~~98311741~~73089381 15,~~282~~007,~~138~~720.3956 I-X-A-2 0.00 0.00 0.00000000 0.00 II-A-1 1,~~429~~963,~~133~~380.8753 7158,~~357~~017,~~266~~431.1391 0.~~98036537~~79709165 1,~~429~~963,~~133~~380.8753 II-X-A-1 0.00 0.00 0.00000000 0.00 II-A-2 ~~476~~654,~~377~~459.3028 2319,~~785~~339,~~722~~117.7040 0.~~98036537~~79709165 ~~476~~654,~~377~~459.3028 II-X-A-2 0.00 0.00 0.00000000 0.00 II-A-3 12,~~620~~226,~~773~~660.7325 8065,~~925~~797,~~926~~285.2757 0.~~98036537~~79709165 12,~~620~~226,~~773~~660.7325 II-X-A-3 0.00 0.00 0.00000000 0.00 III-A-1 631,~~876~~981.5565 1311,~~844~~235,~~423~~380.4537 0.~~99950354~~81114266 631,~~876~~981.5565 III-X-A-1 0.00 0.00 0.00000000 0.00 IV-A-1 ~~649~~1,~~024~~372,298.2977 8677,~~399~~156,~~975~~397.7195 0.~~99254415~~88635594 ~~649~~1,~~024~~372,298.2977 IV-X-A-1 0.00 0.00 0.00000000 0.00 V-A-1 ~~200~~4,~~373~~234,201.6877 ~~150~~135,~~499~~119,~~626~~435.3272 0.~~99867038~~89661205 ~~200~~4,~~373~~234,201.6877 R ~~100~~0.00 0.00 0.00000000 ~~100~~0.00 M 3,~~522~~557.3568 17,~~556~~538,~~377~~620.6549 0.~~99979941~~99878818 3,~~522~~557.3568 B-1 2,~~966~~995.2197 14,~~784~~769,~~433~~480.7927 0.~~99979941~~99878818 2,~~966~~995.2197 B-2 2,~~162~~184.8352 10,~~780~~769,~~137~~233.1775 0.~~99979941~~99878818 2,~~162~~184.8352 B-3 1,~~483~~497.1198 7,~~392~~384,~~216~~740.8914 0.~~99979941~~99878818 1,~~483~~497.1198 B-4 1,~~297~~310.7476 6,~~468~~461,~~302~~759.2698 0.~~99979941~~99878818 1,~~297~~310.7476 B-5 ~~556~~561.1270 2,~~771~~769,~~843~~040.8834 0.~~99979941~~99878818 ~~556~~561.1270 B-6 ~~370~~374.8557 1,~~848~~846,~~422~~552.1560 0.~~99979941~~99878818 ~~370~~374.8557 Totals 618,~~477~~627,~~140~~726.3831 ~~609~~518,~~662~~345,~~052~~244.6298 0.~~98948754~~84127946 618,~~477~~627,~~140~~726.3831

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 47,385,100.00 ~~1000~~796.~~00000000~~83311273 0.~~13120496~~10649065 1665.~~75138788~~83280926 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 75,944,400.00 ~~1000~~796.~~00000000~~83311265 0.~~13120507~~10649067 1665.~~75138799~~83280913 0.00000000 I-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 72,786,400.00 ~~1000~~824.~~00000000~~06620523 0.~~17251712~~13213856 1926.~~46211064~~84241342 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 24,262,100.00 ~~1000~~824.~~00000000~~06620532 0.~~17251722~~13213860 1926.~~46211086~~84241348 0.00000000 II-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 82,546,700.00 ~~1000~~824.~~00000000~~06620519 0.~~17251713~~13213853 1926.~~46211066~~84241345 0.00000000 II-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 13,851,300.00 ~~1000~~813.~~00000000~~45159083 0.~~17168930~~17238887 02.~~32476591~~13653881 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 87,049,000.00 ~~1000~~902.~~00000000~~12060701 0.~~22540512~~21531620 715.~~23044492~~54935393 0.00000000 IV-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 V-A-1 150,700,000.00 ~~1000~~924.~~00000000~~70894154 0.~~27915388~~26679257 127.~~05046576~~83010040 0.00000000 R 100.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 M 17,559,900.00 ~~1000~~998.~~00000000~~99077842 0.~~20059055~~20260252 0.00000000 0.00000000 B-1 14,787,400.00 ~~1000~~998.~~00000000~~99077864 0.~~20059037~~20260289 0.00000000 0.00000000 B-2 10,782,300.00 ~~1000~~998.~~00000000~~99077841 0.~~20059078~~20260241 0.00000000 0.00000000 B-3 7,393,700.00 ~~1000~~998.~~00000000~~99077864 0.~~20059104~~20260222 0.00000000 0.00000000 B-4 6,469,600.00 ~~1000~~998.~~00000000~~99077841 0.~~20059045~~20260294 0.00000000 0.00000000 B-5 2,772,400.00 ~~1000~~998.~~00000000~~99077694 0.~~20059155~~20260424 0.00000000 0.00000000 B-6 1,848,793.00 ~~1000~~998.~~00000000~~99078480 0.~~20059033~~20260245 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 1665.~~88259305~~93929991 ~~983~~730.~~11740695~~89381282 0.~~98311741~~73089381 1665.~~88259305~~93929991 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.00000000 1665.~~88259292~~93929980 ~~983~~730.~~11740708~~89381284 0.~~98311741~~73089381 1665.~~88259292~~93929980 I-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 1926.~~63462776~~97455198 ~~980~~797.~~36537224~~09165325 0.~~98036537~~79709165 1926.~~63462776~~97455198 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 1926.~~63462767~~97455208 ~~980~~797.~~36537233~~09165324 0.~~98036537~~79709165 1926.~~63462767~~97455208 II-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 0.00000000 1926.~~63462779~~97455198 ~~980~~797.~~36537221~~09165321 0.~~98036537~~79709165 1926.~~63462779~~97455198 II-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 02.~~49645521~~30892768 ~~999~~811.~~50354479~~14266314 0.~~99950354~~81114266 02.~~49645521~~30892768 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 0.00000000 715.~~45585004~~76467013 ~~992~~886.~~54414996~~35593689 0.~~99254415~~88635594 715.~~45585004~~76467013 IV-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 V-A-1 0.00000000 128.~~32961964~~09689297 ~~998~~896.~~67038036~~61204857 0.~~99867038~~89661205 128.~~32961964~~09689297 R 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 M 0.00000000 0.~~20059055~~20260252 ~~999~~998.~~79940945~~78817590 0.~~99979941~~99878818 0.~~20059055~~20260252 B-1 0.00000000 0.~~20059037~~20260289 ~~999~~998.~~79940963~~78817574 0.~~99979941~~99878818 0.~~20059037~~20260289 B-2 0.00000000 0.~~20059078~~20260241 ~~999~~998.~~79940922~~78817599 0.~~99979941~~99878818 0.~~20059078~~20260241 B-3 0.00000000 0.~~20059104~~20260222 ~~999~~998.~~79940896~~78817642 0.~~99979941~~99878818 0.~~20059104~~20260222 B-4 0.00000000 0.~~20059045~~20260294 ~~999~~998.~~79940955~~78817547 0.~~99979941~~99878818 0.~~20059045~~20260294 B-5 0.00000000 0.~~20059155~~20260424 ~~999~~998.~~79940845~~78817631 0.~~99979941~~99878818 0.~~20059155~~20260424 B-6 0.00000000 0.~~20059033~~20260245 ~~999~~998.~~79940967~~78818234 0.~~99979941~~99878818 0.~~20059033~~20260245 (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 47,385,100.00 2.~~91766~~89412% 4737,~~385~~758,~~100~~016.0073 ~~115~~91,~~211~~063.2150 0.00 0.00 I-X-A-1 0.00 2.46200% 4737,~~385~~758,~~100~~016.0073 9777,~~218~~466.4386 0.00 0.00 I-A-2 75,944,400.00 4.~~69366~~67012% 7560,~~944~~515,~~400~~012.0064 ~~297~~235,~~047~~510.4426 0.00 0.00 I-X-A-2 0.00 0.68600% 7560,~~944~~515,~~400~~012.0064 4334,~~414~~594.8842 0.00 0.00 II-A-1 72,786,400.00 3.~~76525~~75007% 7259,~~786~~980,~~400~~812.0044 ~~228~~187,~~382~~443.6563 0.00 0.00 II-X-A-1 0.00 1.69800% 7259,~~786~~980,~~400~~812.0044 ~~102~~84,~~992~~872.7685 0.00 0.00 II-A-2 24,262,100.00 3.~~74725~~73207% 2419,~~262~~993,~~100~~576.0068 7562,~~763~~181.5122 0.00 0.00 II-X-A-2 0.00 1.71600% 2419,~~262~~993,~~100~~576.0068 3428,~~694~~590.8081 0.00 0.00 II-A-3 82,546,700.00 4.~~27425~~25907% 8268,~~546~~023,~~700~~945.0082 ~~294~~241,~~021~~432.2139 0.00 0.00 II-X-A-3 0.00 1.18900% 8268,~~546~~023,~~700~~945.0082 8167,~~790~~400.0239 0.00 0.00 III-A-1 13,851,300.00 4.~~58718~~57305% 1311,~~851~~267,~~300~~362.0002 5242,~~948~~938.6551 0.00 0.00 III-X-A-1 0.00 1.14200% 1311,~~851~~267,~~300~~362.0002 1310,~~181~~722.8277 0.00 0.00 IV-A-1 87,049,000.00 3.~~60735~~59370% 8778,~~049~~528,~~000~~696.0072 ~~261~~235,~~680~~174.2913 0.00 0.00 IV-X-A-1 0.00 1.70100% 8778,~~049~~528,~~000~~696.0072 ~~123~~111,~~391~~314.9643 0.00 0.00 V-A-1 150,700,000.00 5.~~47891~~47019% ~~150~~139,~~700~~353,~~000~~637.0049 ~~688~~635,~~059~~242.8901 0.00 0.00 R 100.00 0.00000% ~~100~~0.00 0.00 0.00 0.00 M 17,559,900.00 5.~~43124~~41622% 17,~~559~~542,~~900~~178.0017 79,~~476~~176.7289 0.00 0.00 B-1 14,787,400.00 5.~~43124~~41622% 14,~~787~~772,~~400~~476.0024 66,~~928~~675.2980 0.00 0.00 B-2 10,782,300.00 5.~~43124~~41622% 10,~~782~~771,~~300~~418.0027 48,~~801~~616.0796 0.00 0.00 B-3 7,393,700.00 5.~~43124~~41622% 7,~~393~~386,~~700~~238.0012 33,~~464~~337.1490 0.00 0.00 B-4 6,469,600.00 5.~~43124~~41622% 6,~~469~~463,~~600~~070.0074 29,~~281~~171.6417 0.00 0.00 B-5 2,772,400.00 5.~~43124~~41622% 2,~~772~~769,~~400~~602.0003 12,~~547~~500.9864 0.00 0.00 B-6 1,848,793.00 5.~~43124~~41622% 1,~~848~~846,~~793~~927.0017 8,~~367~~336.7013 0.00 0.00 Totals 616,139,193.00 2,~~788~~423,~~667~~763.0667 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 0304.0097 0.00 ~~115~~90,~~211~~758.2152 0.00 4634,~~585~~633,~~116~~476.6441 I-X-A-1 0259.0044 0.00 9777,~~218~~207.43 0.00 4634,~~585~~633,~~116~~476.6441 I-A-2 0788.0073 0.00 ~~297~~234,~~047~~721.4453 0.00 7455,~~662~~507,~~261~~292.6108 I-X-A-2 0115.0086 0.00 4334,~~414~~478.8856 0.00 7455,~~662~~507,~~261~~292.6108 II-A-1 0412.0033 0.00 ~~228~~187,~~382~~031.6530 0.00 7158,~~357~~017,~~266~~431.1391 II-X-A-1 0186.0070 0.00 ~~102~~84,~~992~~686.7615 0.00 7158,~~357~~017,~~266~~431.1391 II-A-2 0136.0078 0.00 7562,~~763~~044.5144 0.00 2319,~~785~~339,~~722~~117.7040 II-X-A-2 062.0089 0.00 3428,~~694~~527.8092 0.00 2319,~~785~~339,~~722~~117.7040 II-A-3 0531.0009 0.00 ~~294~~240,~~021~~901.2030 0.00 8065,~~925~~797,~~926~~285.2757 II-X-A-3 0148.0026 0.00 8167,~~790~~252.0213 0.00 8065,~~925~~797,~~926~~285.2757 III-A-1 01,187.0051 0.00 5241,~~948~~751.6500 0.00 1311,~~844~~235,~~423~~380.4537 III-X-A-1 0296.0055 0.00 1310,~~181~~426.8222 0.00 1311,~~844~~235,~~423~~380.4537 IV-A-1 01,010.0040 0.00 ~~261~~234,~~680~~163.2974 0.00 8677,~~399~~156,~~975~~397.7195 IV-X-A-1 0478.0025 0.00 ~~123~~110,~~391~~836.9618 0.00 8677,~~399~~156,~~975~~397.7195 V-A-1 01,498.0003 0.00 ~~688~~633,~~059~~743.8998 0.00 ~~150~~135,~~499~~119,~~626~~435.3272 R 0.00 0.00 0.00 0.00 0.00 M 0274.0023 0.00 7978,~~476~~902.7267 0.00 17,~~556~~538,~~377~~620.6549 B-1 0230.0093 0.00 66,~~928~~444.2987 0.00 14,~~784~~769,~~433~~480.7927 B-2 0168.0038 0.00 48,~~801~~448.0758 0.00 10,~~780~~769,~~137~~233.1775 B-3 0115.0047 0.00 33,~~464~~222.1444 0.00 7,~~392~~384,~~216~~740.8914 B-4 0101.0003 0.00 29,~~281~~070.6414 0.00 6,~~468~~461,~~302~~759.2698 B-5 043.0030 0.00 12,~~547~~457.9835 0.00 2,~~771~~769,~~843~~040.8834 B-6 028.0087 0.00 8,~~367~~307.7026 0.00 1,~~848~~846,~~422~~552.1560 Totals 08,380.00 0.00 2,~~788~~415,~~667~~383.0571 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 47,385,100.00 2.~~91766~~89412% ~~1000~~796.~~00000000~~83311273 21.~~43138054~~92177499 0.00000000 0.00000000 I-X-A-1 0.00 2.46200% ~~1000~~796.~~00000000~~83311273 21.~~05166666~~63483585 0.00000000 0.00000000 I-A-2 75,944,400.00 4.~~69366~~67012% ~~1000~~796.~~00000000~~83311265 3.~~91138043~~10108790 0.00000000 0.00000000 I-X-A-2 0.00 0.68600% ~~1000~~796.~~00000000~~83311265 0.~~57166664~~45552299 0.00000000 0.00000000 II-A-1 72,786,400.00 3.~~76525~~75007% ~~1000~~824.~~00000000~~06620523 32.~~13771048~~57525623 0.00000000 0.00000000 II-X-A-1 0.00 1.69800% ~~1000~~824.~~00000000~~06620523 1.~~41500005~~16605369 0.00000000 0.00000000 II-A-2 24,262,100.00 3.~~74725~~73207% ~~1000~~824.~~00000000~~06620532 32.~~12271032~~56289522 0.00000000 0.00000000 II-X-A-2 0.00 1.71600% ~~1000~~824.~~00000000~~06620532 1.~~42999988~~17841448 0.00000000 0.00000000 II-A-3 82,546,700.00 4.~~27425~~25907% ~~1000~~824.~~00000000~~06620519 32.~~56187722~~92479760 0.00000000 0.00000000 II-X-A-3 0.00 1.18900% ~~1000~~824.~~00000000~~06620519 0.~~99083331~~81651223 0.00000000 0.00000000 III-A-1 13,851,300.00 4.~~58718~~57305% ~~1000~~813.~~00000000~~45159083 3.~~82264842~~09996246 0.00000000 0.00000000 III-X-A-1 0.00 1.14200% ~~1000~~813.~~00000000~~45159083 0.~~95166663~~77413456 0.00000000 0.00000000 IV-A-1 87,049,000.00 3.~~60735~~59370% ~~1000~~902.~~00000000~~12060701 32.~~00612632~~70162931 0.00000000 0.00000000 IV-X-A-1 0.00 1.70100% ~~1000~~902.~~00000000~~12060701 1.~~41750003~~27875599 0.00000000 0.00000000 V-A-1 150,700,000.00 5.~~47891~~47019% ~~1000~~924.~~00000000~~70894154 4.~~56575906~~21527545 0.00000000 0.00000000 R 100.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 M 17,559,900.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077842 4.~~52603489~~50896019 0.00000000 0.00000000 B-1 14,787,400.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077864 4.~~52603500~~50896033 0.00000000 0.00000000 B-2 10,782,300.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077841 4.~~52603526~~50896005 0.00000000 0.00000000 B-3 7,393,700.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077864 4.~~52603433~~50896033 0.00000000 0.00000000 B-4 6,469,600.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077841 4.~~52603561~~50896037 0.00000000 0.00000000 B-5 2,772,400.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99077694 4.~~52603520~~50895975 0.00000000 0.00000000 B-6 1,848,793.00 5.~~43124~~41622% ~~1000~~998.~~00000000~~99078480 4.~~52603401~~50895801 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~~00643599 0.00000000 21.~~43138054~~91533879 0.00000000 ~~983~~730.~~11740695~~89381282 I-X-A-1 0.~~00000000~~00547514 0.00000000 21.~~05166666~~62936092 0.00000000 ~~983~~730.~~11740695~~89381282 I-A-2 0.~~00000000~~01038562 0.00000000 3.~~91138043~~09070228 0.00000000 ~~983~~730.~~11740708~~89381284 I-X-A-2 0.~~00000000~~00152559 0.00000000 0.~~57166664~~45399740 0.00000000 ~~983~~730.~~11740708~~89381284 II-A-1 0.~~00000000~~00566493 0.00000000 32.~~13771048~~56959130 0.00000000 ~~980~~797.~~36537224~~09165325 II-X-A-1 0.~~00000000~~00256504 0.00000000 1.~~41500005~~16348865 0.00000000 ~~980~~797.~~36537224~~09165325 II-A-2 0.~~00000000~~00563760 0.00000000 32.~~12271032~~55725762 0.00000000 ~~980~~797.~~36537233~~09165324 II-X-A-2 0.~~00000000~~00259211 0.00000000 1.~~42999988~~17582237 0.00000000 ~~980~~797.~~36537233~~09165324 II-A-3 0.~~00000000~~00643381 0.00000000 32.~~56187710~~91836379 0.00000000 ~~980~~797.~~36537221~~09165321 II-X-A-3 0.~~00000000~~00179607 0.00000000 0.~~99083331~~81471615 0.00000000 ~~980~~797.~~36537221~~09165321 III-A-1 0.~~00000000~~08573275 0.00000000 3.~~82264842~~01422971 0.00000000 ~~999~~811.~~50354479~~14266314 III-X-A-1 0.~~00000000~~02140954 0.00000000 0.~~95166663~~75272501 0.00000000 ~~999~~811.~~50354479~~14266314 IV-A-1 0.~~00000000~~01160726 0.00000000 32.~~00612632~~69002217 0.00000000 ~~992~~886.~~54414996~~35593689 IV-X-A-1 0.~~00000000~~00549403 0.00000000 1.~~41750003~~27326196 0.00000000 ~~992~~886.~~54414996~~35593689 V-A-1 0.~~00000000~~00994048 0.00000000 4.~~56575906~~20533497 0.00000000 ~~998~~896.~~67038036~~61204857 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.~~00000000~~01561683 0.00000000 4.~~52603489~~49334393 0.00000000 ~~999~~998.~~79940945~~78817590 B-1 0.~~00000000~~01561667 0.00000000 4.~~52603500~~49334366 0.00000000 ~~999~~998.~~79940963~~78817574 B-2 0.~~00000000~~01561633 0.00000000 4.~~52603526~~49334372 0.00000000 ~~999~~998.~~79940922~~78817599 B-3 0.~~00000000~~01561735 0.00000000 4.~~52603433~~49334433 0.00000000 ~~999~~998.~~79940896~~78817642 B-4 0.~~00000000~~01561611 0.00000000 4.~~52603561~~49334426 0.00000000 ~~999~~998.~~79940955~~78817547 B-5 0.~~00000000~~01561824 0.00000000 4.~~52603520~~49334512 0.00000000 ~~999~~998.~~79940845~~78817631 B-6 0.~~00000000~~01561559 0.00000000 4.~~52603401~~49334241 0.00000000 ~~999~~998.~~79940967~~78818234 (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 921,~~366~~182,~~061~~662.0753 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4239,~~320~~059.3743 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 921,~~408~~221,~~381~~721.4496 Withdrawals Reimbursement for Servicer Advances 053,752.00 Payment of Service Fee ~~142~~124,~~574~~859.0194 Payment of Interest and Principal 921,~~265~~043,~~807~~110.4302 Total Withdrawals (Pool Distribution Amount) 921,~~408~~221,~~381~~721.4496 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 08,380.00

SERVICING FEES Gross Servicing Fee ~~105~~77,~~623~~758.6596 Additional Servicing Fees 3647,~~950~~100.3698 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~142~~124,~~574~~859.0194

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 1911 0 0 0 1911 74,~~903~~331,~~362~~459.4160 0.00 0.00 0.00 74,~~903~~331,~~362~~459.4160 60 Days 4 0 0 0 4 ~~975~~1,~~000~~349,999.0079 0.00 0.00 0.00 ~~975~~1,~~000~~349,999.0079 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0452,000.00 0.00 0.00 0.00 0452,000.00 150 Days 01 0 0 0 01 01,820,000.00 0.00 0.00 0.00 01,820,000.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2317 0 0 0 2317 87,~~878~~953,~~362~~459.4139 0.00 0.00 0.00 87,~~878~~953,~~362~~459.4139 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 0.~~956697~~627496% 0.000000% 0.000000% 0.000000% 0.~~956697~~627496% 10.~~296157~~835594% 0.000000% 0.000000% 0.000000% 10.~~296157~~835594% 60 Days 0.~~201410~~228180% 0.000000% 0.000000% 0.000000% 0.~~201410~~228180% 0.~~159901~~260432% 0.000000% 0.000000% 0.000000% 0.~~159901~~260432% 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~~057045% 0.000000% 0.000000% 0.000000% 0.~~000000~~057045% 0.~~000000~~087197% 0.000000% 0.000000% 0.000000% 0.~~000000~~087197% 150 Days 0.~~000000~~057045% 0.000000% 0.000000% 0.000000% 0.~~000000~~057045% 0.~~000000~~351101% 0.000000% 0.000000% 0.000000% 0.~~000000~~351101% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 10.~~158107~~969766% 0.000000% 0.000000% 0.000000% 10.~~158107~~969766% 1.~~456057~~534324% 0.000000% 0.000000% 0.000000% 1.~~456057~~534324%

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 62 0 0 0 62 41,~~093~~415,~~525~~866.8778 0.00 0.00 0.00 41,~~093~~415,~~525~~866.8778 60 Days 01 0 0 0 01 0670,000.00 0.00 0.00 0.00 0670,000.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0452,000.00 0.00 0.00 0.00 0452,000.00 150 Days 01 0 0 0 01 01,820,000.00 0.00 0.00 0.00 01,820,000.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 65 0 0 0 65 4,~~093~~357,~~525~~866.8778 0.00 0.00 0.00 4,~~093~~357,~~525~~866.8778 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~247191~~970874% 0.000000% 0.000000% 0.000000% 20.~~247191~~970874% 31.~~033113~~363530% 0.000000% 0.000000% 0.000000% 31.~~033113~~363530% 60 Days 0.~~000000~~485437% 0.000000% 0.000000% 0.000000% 0.~~000000~~485437% 0.~~000000~~645234% 0.000000% 0.000000% 0.000000% 0.~~000000~~645234% 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~~485437% 0.000000% 0.000000% 0.000000% 0.~~000000~~485437% 0.~~000000~~435292% 0.000000% 0.000000% 0.000000% 0.~~000000~~435292% 150 Days 0.~~000000~~485437% 0.000000% 0.000000% 0.000000% 0.~~000000~~485437% 01.~~000000~~752725% 0.000000% 0.000000% 0.000000% 01.~~000000~~752725% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.~~247191~~427184% 0.000000% 0.000000% 0.000000% 2.~~247191~~427184% 34.~~033113~~196782% 0.000000% 0.000000% 0.000000% 34.~~033113~~196782% 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 43 0 0 0 43 1,~~953~~439,~~288~~549.3995 0.00 0.00 0.00 1,~~953~~439,~~288~~549.3995 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 43 0 0 0 43 1,~~953~~439,~~288~~549.3995 0.00 0.00 0.00 1,~~953~~439,~~288~~549.3995 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~036269~~937500% 0.000000% 0.000000% 0.000000% 10.~~036269~~937500% 0.~~996347~~882624% 0.000000% 0.000000% 0.000000% 0.~~996347~~882624% 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 10.~~036269~~937500% 0.000000% 0.000000% 0.000000% 10.~~036269~~937500% 0.~~996347~~882624% 0.000000% 0.000000% 0.000000% 0.~~996347~~882624% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 42 0 0 0 42 1562,~~033,499~~027.9941 0.00 0.00 0.00 1562,~~033,499~~027.9941 60 Days 21 0 0 0 21 ~~549~~140,~~500~~799.0099 0.00 0.00 0.00 ~~549~~140,~~500~~799.0099 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 63 0 0 0 63 1702,~~582,999~~827.9940 0.00 0.00 0.00 1702,~~582,999~~827.9940 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~863931~~470588% 0.000000% 0.000000% 0.000000% 0.~~863931~~470588% 10.~~075601~~647313% 0.000000% 0.000000% 0.000000% 10.~~075601~~647313% 60 Days 0.~~431965~~235294% 0.000000% 0.000000% 0.000000% 0.~~431965~~235294% 0.~~571885~~162166% 0.000000% 0.000000% 0.000000% 0.~~571885~~162166% 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 10.~~295896~~705882% 0.000000% 0.000000% 0.000000% 10.~~295896~~705882% 10.~~647486~~809479% 0.000000% 0.000000% 0.000000% 10.~~647486~~809479% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 54 0 0 0 54 ~~823~~914,~~048~~015.1646 0.00 0.00 0.00 ~~823~~914,~~048~~015.1646 60 Days 2 0 0 0 2 ~~425~~539,~~500~~199.0080 0.00 0.00 0.00 ~~425~~539,~~500~~199.0080 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 76 0 0 0 76 1,~~248~~453,~~548~~215.1626 0.00 0.00 0.00 1,~~248~~453,~~548~~215.1626 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~600962~~520156% 0.000000% 0.000000% 0.000000% 0.~~600962~~520156% 0.~~492026~~601979% 0.000000% 0.000000% 0.000000% 0.~~492026~~601979% 60 Days 0.~~240385~~260078% 0.000000% 0.000000% 0.000000% 0.~~240385~~260078% 0.~~254368~~355122% 0.000000% 0.000000% 0.000000% 0.~~254368~~355122% 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.~~841346~~780234% 0.000000% 0.000000% 0.000000% 0.~~841346~~780234% 0.~~746394~~957100% 0.000000% 0.000000% 0.000000% 0.~~746394~~957100%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4239,~~320~~059.3743

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 568,754,093.00 92.30935144% ~~563~~483,~~076~~711,~~935~~768.9857 9293.~~35886240~~31845398% 8988.~~895757~~127715% 0.000000% Class IA2 492,809,693.00 79.98350025% ~~488~~428,~~414~~204,~~674~~476.3749 8082.~~11236267~~60989773% 1210.~~246500~~708556% ~~121~~90.~~201559~~197934% Class 2A1 420,023,293.00 68.17019559% ~~417~~370,~~057~~187,~~408~~044.2458 6871.~~40796580~~41708126% 11.~~704397~~192816% ~~115~~94.~~836457~~276847% Class 2A2 395,761,193.00 64.23243278% ~~393~~350,~~271~~847,~~685~~927.5418 6467.~~50650554~~68614757% 3.~~901460~~730934% 3831.~~612099~~425572% Class 2A3 313,214,493.00 50.83502179% ~~312~~285,~~345~~050,~~759~~641.2761 5154.~~23260634~~99242919% 1312.~~273899~~693718% ~~131~~106.~~369559~~918911% Class R-I 61,614,093.00 10.00002819% 61,~~601~~539,~~733~~427.7957 1011.~~10424276~~87228555% 0.000000% 0.000000% Class M 44,054,193.00 7.15003907% 44,~~045~~000,~~356~~807.1408 78.~~22455268~~48870662% 23.~~879690~~383579% 28.499811% Class B-1 29,266,793.00 4.75002943% 29,~~260~~231,~~922~~326.3581 45.~~79953152~~63935468% 2.~~425021~~849352% 24.000029% Class B-2 18,484,493.00 3.00005148% 18,~~480~~462,~~785~~093.1806 3.~~03131630~~56173675% 12.~~768215~~077618% 17.499730% Class B-3 11,090,793.00 1.80004667% 11,~~088~~077,~~568~~352.2992 12.~~81880572~~13706078% 1.~~212511~~424676% 12.000014% Class B-4 4,621,193.00 0.75002419% 4,~~620~~615,~~266~~592.0394 0.~~75784051~~89044763% 1.~~060965~~246613% 10.500195% Class B-5 1,848,793.00 0.30006093% 1,~~848~~846,~~422~~552.1560 0.~~30318799~~35623990% 0.~~454653~~534208% 4.499620% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~303188~~356240% 3.000601% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~708921~~695535% Weighted Average Net Coupon 5.~~503207~~521763% Weighted Average Pass-Through Rate 5.~~431242~~416504% Weighted Average Maturity(Stepdown Calculation ) ~~356~~351 Beginning Scheduled Collateral Loan Count 1,~~999~~805 Number Of Loans Paid In Full 1352 Ending Scheduled Collateral Loan Count 1,~~986~~753 Beginning Scheduled Collateral Balance ~~616~~536,~~139~~972,~~193~~970.0093 Ending Scheduled Collateral Balance ~~609~~518,~~662~~345,~~052~~244.2762 Ending Actual Collateral Balance at 2931-~~Feb~~Jul-2004 ~~609~~518,~~753~~369,~~676~~072.1123 Monthly P &I Constant 32,~~054~~659,~~832~~308.8520 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 820,~~974~~761,~~480~~191.6932 Ending Scheduled Balance for Premium Loans ~~609~~518,~~662~~345,~~052~~244.2762 Scheduled Principal ~~123~~110,~~591~~684.8158 Unscheduled Principal 618,~~353~~517,~~448~~041.5873

Miscellaneous Reporting Senior Percentage Group 1 8987.~~999931~~769260% Senior Percentage Group 2 8988.~~999991~~127761% Senior Percentage Group 3 8987.~~999790~~991842% Senior Percentage Group 4 89.~~999987~~045214% Senior Percentage Group 5 89.~~999985~~286510% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Senior Prepayment Percentage Group 4 100.000000% Senior Prepayment Percentage Group 5 100.000000% Subordinate Percentage Group 1 1012.~~000069~~230740% Subordinate Percentage Group 2 1011.~~000009~~872239% Subordinate Percentage Group 3 1012.~~000210~~008158% Subordinate Percentage Group 4 10.~~000013~~954786% Subordinate Percentage Group 5 10.~~000015~~713490% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Subordinate Prepay Percent Group 4 0.000000% Subordinate Prepay Percent Group 5 0.000000% Average Loss Severity Group 1 0.000000% Average Loss Severity Group 2 0.000000% Average Loss Severity Group 3 0.000000% Average Loss Severity Group 4 0.000000% Average Loss Severity Group 5 0.000000%

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~646302~~622453 5.~~743087~~730403 5.~~999930~~989948 Weighted Average Net Rate 5.~~422936~~439992 5.~~540822~~561363 5.~~783134~~785639 Weighted Average Maturity ~~356~~351 ~~356~~351 ~~356~~351 Beginning Loan Count ~~271~~223 ~~391~~331 3833 Loans Paid In Full 417 511 0 Ending Loan Count ~~267~~206 ~~386~~320 3833 Beginning Scheduled Balance ~~137~~111,~~032~~967,~~882~~481.9631 ~~199~~167,~~550~~936,~~242~~110.5461 1512,~~390~~805,~~369~~007.3062 Ending scheduled Balance ~~134~~103,~~948~~833,~~963~~390.2627 ~~196~~163,~~020~~088,~~515~~413.0554 1512,~~383~~772,~~228~~700.5111 Record Date 0207/2931/2004 0207/2931/2004 0207/2931/2004 Principal And Interest Constant ~~662~~539,~~753~~573.6449 ~~989~~828,~~454~~879.5278 7966,~~593~~631.3144 Scheduled Principal 1714,~~979~~963.4060 3426,~~425~~928.8346 2,~~642~~713.3667 Unscheduled Principal 28,~~065~~119,~~940~~127.3044 34,~~495~~820,~~301~~768.6661 429,~~498~~593.4384 Scheduled Interest ~~644~~524,~~774~~609.2489 ~~955~~801,~~028~~951.6932 7663,~~950~~917.9577 Servicing Fees 2517,~~507~~024.1670 3323,~~634~~656.9961 2,~~780~~180.4814 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 47,~~942~~825.2091 1215,~~899~~854.2372 ~~692~~753.0124 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 ~~614~~499,~~324~~759.8828 ~~908~~762,~~494~~439.4799 7360,~~478~~984.4639 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.~~379657~~356119 5.~~463253~~448072 5.~~729178~~715051

Group Level Collateral Statement Group Group 4 Group 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~586458~~573799 5.~~763439~~755078 5.~~708921~~695535 Weighted Average Net Rate 05.~~000000~~397373 5.~~568685~~586453 5.~~503207~~521763 Weighted Average Maturity ~~356~~351 ~~355~~350 ~~356~~351 Beginning Loan Count ~~466~~432 ~~833~~786 1,~~999~~805 Loans Paid In Full 37 117 1352 Ending Loan Count ~~463~~425 ~~832~~769 1,~~986~~753 Beginning Scheduled Balance 9688,~~721~~189,~~125~~688.0636 ~~167~~156,~~444~~074,~~472~~683.8003 ~~616~~536,~~139~~972,~~092~~970.6693 Ending scheduled Balance 9686,~~069~~815,~~920~~083.6272 ~~167~~151,~~239~~835,~~424~~656.8398 ~~609~~518,~~662~~345,~~052~~244.2762 Record Date 0207/2931/2004 0207/2931/2004 0207/2931/2004 Principal And Interest Constant ~~472~~430,~~075~~675.23 ~~850~~793,~~956~~548.1526 32,~~054~~659,~~832~~308.8520 Scheduled Principal 21,~~801~~048.4493 4645,~~742~~029.7892 ~~123~~110,~~591~~684.8158 Unscheduled Principal ~~629~~1,~~403~~353,555.0071 ~~158~~4,~~305~~193,996.1913 618,~~353~~517,~~448~~041.5873 Scheduled Interest ~~450~~409,~~273~~626.7930 ~~804~~748,~~213~~518.3734 2,~~931~~548,~~241~~623.0462 Servicing Fees 1612,~~525~~965.5378 2721,~~175~~931.4973 ~~105~~77,~~623~~758.6596 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 57,~~890~~545.1521 1215,~~526~~121.7790 3647,~~950~~100.3698 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 ~~427~~389,~~858~~115.1131 ~~764~~711,~~511~~464.1171 2,~~788~~423,~~667~~763.0368 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.~~308352~~294705 5.~~478911~~470187 5.~~431242~~416504

Filing Compare · STRUCTURED ASSET MORT INV II INC BEAR STEARNS ALT A TR 04 1