8-K 1 bsa04ac3_sep.txt SEPTEMBER 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): September 27, 2004 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-AC3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-04 54-2154035 Pooling and Servicing Agreement) (Commission 54-2154036 (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) 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 September 27, 2004 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2004-AC3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-AC3 Trust, relating to the September 27, 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 ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-AC3 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: 9/27/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-AC3 Trust, relating to the September 27, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset Backed Certificates Record Date: 78/31/2004 Distribution Date: 89/2527/2004 BSA Series: 2004-AC3 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 A-1 073879BM9 SEN 5.25000% ~~226~~223,~~695~~769,~~143~~654.6044 ~~991~~978,~~791~~992.2524 24,~~925~~805,~~489~~415.1671 A-2 073879BN7 SEN 5.50000% 6867,~~856~~967,~~268~~682.6201 ~~315~~311,~~591~~518.2354 ~~888~~1,~~586~~459,594.6054 M-1 073879BP2 MEZ 2.~~00000~~16500% 29,~~835~~450,~~176~~154.4098 4958,~~725~~446.29 ~~385~~632,~~021~~437.4213 M-2 073879BQ0 MEZ 2.~~70000~~86500% 18,~~646~~405,~~151~~524.8118 4148,~~953~~337.8451 ~~240~~395,~~627~~255.6354 M-3 073879BR8 MEZ 23.~~95000~~11500% 8,~~391~~283,~~530~~238.3205 2023,~~629~~652.1810 ~~108~~177,~~292~~881.2714 B-1 073879BS6 SUB 3.~~35000~~51500% 9,~~323~~202,~~075~~762.9109 2629,~~026~~652.9207 ~~120~~197,~~313~~627.8177 B-2 073879BT4 SUB 3.~~70000~~86500% 9,~~137~~019,~~338~~421.2941 2831,~~173~~955.4606 ~~117~~193,~~916~~690.8856 C 073879BV9 OC 0.00000% 2,153,436.00 ~~461~~413,~~205~~848.2579 0.00 P 073879BU1 SEN 0.00000% 100.00 26,~~972~~572.7422 0.00 R-1 073879BW7 RES 0.00000% 0.00 0.00 0.00 R-2 073879BX5 RES 0.00000% 0.00 0.00 0.00 Totals ~~373~~368,~~038~~251,~~220~~973.9516 1,~~938~~902,~~069~~974.1682 47,~~786~~861,~~247~~902.7739

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~223~~218,~~769~~964,~~654~~238.4473 35,~~917~~784,~~280~~407.4195 0.00 A-2 0.00 6766,~~967~~508,~~682~~087.0147 1,~~204~~771,~~177~~113.8308 0.00 M-1 0.00 2928,~~450~~817,~~154~~717.9886 ~~434~~690,~~746~~883.7142 0.00 M-2 0.00 18,~~405~~010,~~524~~268.1864 ~~282~~443,~~581~~593.4705 0.00 M-3 0.00 8,~~283~~105,~~238~~356.0590 ~~128~~201,~~921~~533.4524 0.00 B-1 0.00 9,~~202~~005,~~762~~134.0932 ~~146~~227,~~340~~279.7384 0.00 B-2 0.00 98,~~019~~825,~~421~~730.4185 ~~146~~225,~~090~~645.3462 0.00 C 0.00 2,153,436.00 ~~461~~413,~~205~~848.2579 0.00 P 0.00 100.00 26,~~972~~572.7422 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~368~~360,~~251~~390,~~973~~070.1677 69,~~724~~764,~~316~~877.9321 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) A-1 238,000,000.00 ~~226~~223,~~695~~769,~~143~~654.6044 0.00 24,~~925~~805,~~489~~415.1671 0.00 0.00 A-2 72,290,000.00 6867,~~856~~967,~~268~~682.6201 0.00 ~~888~~1,~~586~~459,594.6054 0.00 0.00 M-1 31,323,000.00 29,~~835~~450,~~176~~154.4098 0.00 ~~385~~632,~~021~~437.4213 0.00 0.00 M-2 19,576,000.00 18,~~646~~405,~~151~~524.8118 0.00 ~~240~~395,~~627~~255.6354 0.00 0.00 M-3 8,810,000.00 8,~~391~~283,~~530~~238.3205 0.00 ~~108~~177,~~292~~881.2714 0.00 0.00 B-1 9,788,000.00 9,~~323~~202,~~075~~762.9109 0.00 ~~120~~197,~~313~~627.8177 0.00 0.00 B-2 9,593,000.00 9,~~137~~019,~~338~~421.2941 0.00 ~~117~~193,~~916~~690.8856 0.00 0.00 C 2,153,769.38 2,153,436.00 0.00 0.00 0.00 0.00 P 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 Totals 391,533,869.38 ~~373~~368,~~038~~251,~~220~~973.9516 0.00 47,~~786~~861,~~247~~902.7739 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 A-1 24,~~925~~805,~~489~~415.1671 ~~223~~218,~~769~~964,~~654~~238.4473 0.~~94020863~~92001781 24,~~925~~805,~~489~~415.1671 A-2 ~~888~~1,~~586~~459,594.6054 6766,~~967~~508,~~682~~087.0147 0.~~94020863~~92001781 ~~888~~1,~~586~~459,594.6054 M-1 ~~385~~632,~~021~~437.4213 2928,~~450~~817,~~154~~717.9886 0.~~94020863~~92001781 ~~385~~632,~~021~~437.4213 M-2 ~~240~~395,~~627~~255.6354 18,~~405~~010,~~524~~268.1864 0.~~94020863~~92001781 ~~240~~395,~~627~~255.6354 M-3 ~~108~~177,~~292~~881.2714 8,~~283~~105,~~238~~356.0590 0.~~94020863~~92001781 ~~108~~177,~~292~~881.2714 B-1 ~~120~~197,~~313~~627.8177 9,~~202~~005,~~762~~134.0932 0.~~94020863~~92001781 ~~120~~197,~~313~~627.8177 B-2 ~~117~~193,~~916~~690.8856 98,~~019~~825,~~421~~730.4185 0.~~94020863~~92001781 ~~117~~193,~~916~~690.8856 C 0.00 2,153,436.00 0.99984521 0.00 P 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 Totals 47,~~786~~861,~~247~~902.7739 ~~368~~360,~~251~~390,~~973~~070.1677 0.~~94053670~~92045695 47,~~786~~861,~~247~~902.7739

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 238,000,000.00 ~~952~~940.~~50060336~~20863210 0.00000000 1220.~~29197126~~19082231 0.00000000 A-2 72,290,000.00 ~~952~~940.~~50060340~~20863204 0.00000000 1220.~~29197123~~19082224 0.00000000 M-1 31,323,000.00 ~~952~~940.~~50060339~~20863200 0.00000000 1220.~~29197139~~19082240 0.00000000 M-2 19,576,000.00 ~~952~~940.~~50060329~~20863200 0.00000000 1220.~~29197129~~19082244 0.00000000 M-3 8,810,000.00 ~~952~~940.~~50060386~~20863224 0.00000000 1220.~~29197162~~19082179 0.00000000 B-1 9,788,000.00 ~~952~~940.~~50060380~~20863200 0.00000000 1220.~~29197078~~19082244 0.00000000 B-2 9,593,000.00 ~~952~~940.~~50060357~~20863234 0.00000000 1220.~~29197123~~19082247 0.00000000 C 2,153,769.38 999.84521091 0.00000000 0.00000000 0.00000000 P 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

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 1220.~~29197126~~19082231 ~~940~~920.~~20863210~~01780979 0.~~94020863~~92001781 1220.~~29197126~~19082231 A-2 0.00000000 1220.~~29197123~~19082224 ~~940~~920.~~20863204~~01780979 0.~~94020863~~92001781 1220.~~29197123~~19082224 M-1 0.00000000 1220.~~29197139~~19082240 ~~940~~920.~~20863200~~01780992 0.~~94020863~~92001781 1220.~~29197139~~19082240 M-2 0.00000000 1220.~~29197129~~19082244 ~~940~~920.~~20863200~~01780956 0.~~94020863~~92001781 1220.~~29197129~~19082244 M-3 0.00000000 1220.~~29197162~~19082179 ~~940~~920.~~20863224~~01780931 0.~~94020863~~92001781 1220.~~29197162~~19082179 B-1 0.00000000 1220.~~29197078~~19082244 ~~940~~920.~~20863200~~01780956 0.~~94020863~~92001781 1220.~~29197078~~19082244 B-2 0.00000000 1220.~~29197123~~19082247 ~~940~~920.~~20863234~~01780986 0.~~94020863~~92001781 1220.~~29197123~~19082247 C 0.00000000 0.00000000 999.84521091 0.99984521 0.00000000 P 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 (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 A-1 238,000,000.00 5.25000% ~~226~~223,~~695~~769,~~143~~654.6044 ~~991~~978,~~791~~992.2524 0.00 0.00 A-2 72,290,000.00 5.50000% 6867,~~856~~967,~~268~~682.6201 ~~315~~311,~~591~~518.2354 0.00 0.00 M-1 31,323,000.00 2.~~00000~~16500% 29,~~835~~450,~~176~~154.4098 4958,~~725~~446.29 0.00 0.00 M-2 19,576,000.00 2.~~70000~~86500% 18,~~646~~405,~~151~~524.8118 4148,~~953~~337.8451 0.00 0.00 M-3 8,810,000.00 23.~~95000~~11500% 8,~~391~~283,~~530~~238.3205 2023,~~629~~652.1810 0.00 0.00 B-1 9,788,000.00 3.~~35000~~51500% 9,~~323~~202,~~075~~762.9109 2629,~~026~~652.9207 0.00 0.00 B-2 9,593,000.00 3.~~70000~~86500% 9,~~137~~019,~~338~~421.2941 2831,~~173~~955.4606 0.00 0.00 C 2,153,769.38 0.00000% 2,153,436.00 0.00 0.00 0.00 P 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 Totals 391,533,869.38 1,~~473~~482,~~891~~553.1781 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 A-1 0.00 0.00 ~~991~~978,~~791~~992.2524 0.00 ~~223~~218,~~769~~964,~~654~~238.4473 A-2 0.00 0.00 ~~315~~311,~~591~~518.2354 0.00 6766,~~967~~508,~~682~~087.0147 M-1 0.00 0.00 4958,~~725~~446.29 0.00 2928,~~450~~817,~~154~~717.9886 M-2 0.00 0.00 4148,~~953~~337.8451 0.00 18,~~405~~010,~~524~~268.1864 M-3 0.00 0.00 2023,~~629~~652.1810 0.00 8,~~283~~105,~~238~~356.0590 B-1 0.00 0.00 2629,~~026~~652.9207 0.00 9,~~202~~005,~~762~~134.0932 B-2 0.00 0.00 2831,~~173~~955.4606 0.00 98,~~019~~825,~~421~~730.4185 C 0.00 0.00 ~~461~~413,~~205~~848.2579 0.00 2,153,436.00 P 0.00 0.00 26,~~972~~572.7422 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 Totals 0.00 0.00 1,~~938~~902,~~069~~974.1682 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 A-1 238,000,000.00 5.25000% ~~952~~940.~~50060336~~20863210 4.~~16719013~~11341277 0.00000000 0.00000000 A-2 72,290,000.00 5.50000% ~~952~~940.~~50060340~~20863204 4.~~36562775~~30928953 0.00000000 0.00000000 M-1 31,323,000.00 2.~~00000~~16500% ~~952~~940.~~50060339~~20863200 1.~~58750088~~86592249 0.00000000 0.00000000 M-2 19,576,000.00 2.~~70000~~86500% ~~952~~940.~~50060329~~20863200 2.~~14312628~~46922303 0.00000000 0.00000000 M-3 8,810,000.00 23.~~95000~~11500% ~~952~~940.~~50060386~~20863224 2.~~34156413~~68468785 0.00000000 0.00000000 B-1 9,788,000.00 3.~~35000~~51500% ~~952~~940.~~50060380~~20863200 23.~~65906416~~02943094 0.00000000 0.00000000 B-2 9,593,000.00 3.~~70000~~86500% ~~952~~940.~~50060357~~20863234 23.~~93687689~~33108100 0.00000000 0.00000000 C 2,153,769.38 0.00000% 999.84521091 0.00000000 0.00000000 0.00000000 P 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 (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 A-1 0.00000000 0.00000000 4.~~16719013~~11341277 0.00000000 ~~940~~920.~~20863210~~01780979 A-2 0.00000000 0.00000000 4.~~36562775~~30928953 0.00000000 ~~940~~920.~~20863204~~01780979 M-1 0.00000000 0.00000000 1.~~58750088~~86592249 0.00000000 ~~940~~920.~~20863200~~01780992 M-2 0.00000000 0.00000000 2.~~14312628~~46922303 0.00000000 ~~940~~920.~~20863200~~01780956 M-3 0.00000000 0.00000000 2.~~34156413~~68468785 0.00000000 ~~940~~920.~~20863224~~01780931 B-1 0.00000000 0.00000000 23.~~65906416~~02943094 0.00000000 ~~940~~920.~~20863200~~01780956 B-2 0.00000000 0.00000000 23.~~93687689~~33108100 0.00000000 ~~940~~920.~~20863234~~01780986 C 0.00000000 0.00000000 ~~214~~192.~~13864190~~15093029 0.00000000 999.84521091 P 0.00000000 0.00000000 ~~29727~~65722.~~40000000~~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 (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 69,~~812~~852,~~234~~193.0134 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 6154,~~926~~398.4927 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 69,~~874~~906,~~160~~591.5061 Withdrawals Reimbursement for Servicer Advances 6961,~~018~~926.6549 Payment of Service Fee 8079,~~824~~787.92 Payment of Interest and Principal 69,~~724~~764,~~316~~877.9320 Total Withdrawals (Pool Distribution Amount) 69,~~874~~906,~~160~~591.5061 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 7776,~~716~~719.2815 Master Servicing Fee 3,~~108~~068.6477 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8079,~~824~~787.92

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 12 0 0 12 ~~186~~362,~~850~~116.4296 0.00 0.00 ~~186~~362,~~850~~116.4296 30 Days 4028 0 0 0 4028 65,~~928~~434,~~345~~022.6569 0.00 0.00 0.00 65,~~928~~434,~~345~~022.6569 60 Days 65 0 0 0 65 1,~~572~~079,~~946~~324.9682 0.00 0.00 0.00 1,~~572~~079,~~946~~324.9682 90 Days 23 0 0 0 23 ~~328~~699,~~555~~909.5937 0.00 0.00 0.00 ~~328~~699,~~555~~909.5937 120 Days 12 0 0 0 12 ~~214~~328,~~054~~555.3759 0.00 0.00 0.00 ~~214~~328,~~054~~555.3759 150 Days 01 0 0 0 01 0214,054.0037 0.00 0.00 0.00 0214,054.0037 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4939 12 0 0 5041 97,~~043~~755,~~902~~866.5784 ~~186~~362,~~850~~116.4296 0.00 0.00 98,~~230~~117,~~752~~983.9980 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.~~049188~~100150% 0.000000% 0.000000% 0.~~049188~~100150% 0.~~050696~~100391% 0.000000% 0.000000% 0.~~050696~~100391% 30 Days 1.~~967536~~402103% 0.000000% 0.000000% 0.000000% 1.~~967536~~402103% 1.~~879787~~506497% 0.000000% 0.000000% 0.000000% 1.~~879787~~506497% 60 Days 0.~~295130~~250376% 0.000000% 0.000000% 0.000000% 0.~~295130~~250376% 0.~~426769~~299226% 0.000000% 0.000000% 0.000000% 0.~~426769~~299226% 90 Days 0.~~098377~~150225% 0.000000% 0.000000% 0.000000% 0.~~098377~~150225% 0.~~089143~~194039% 0.000000% 0.000000% 0.000000% 0.~~089143~~194039% 120 Days 0.~~049188~~100150% 0.000000% 0.000000% 0.000000% 0.~~049188~~100150% 0.~~058077~~091087% 0.000000% 0.000000% 0.000000% 0.~~058077~~091087% 150 Days 0.~~000000~~050075% 0.000000% 0.000000% 0.000000% 0.~~000000~~050075% 0.~~000000~~059343% 0.000000% 0.000000% 0.000000% 0.~~000000~~059343% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 21.~~410231~~952929% 0.~~049188~~100150% 0.000000% 0.000000% 2.~~459420~~053080% 2.~~453777~~150191% 0.~~050696~~100391% 0.000000% 0.000000% 2.~~504473~~250582%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 6154,~~926~~398.4927

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~479607~~476116% Weighted Average Net Coupon 6.~~229607~~226116% Weighted Average Pass-Through Rate 6.~~219607~~216116% Weighted Average Maturity(Stepdown Calculation ) ~~336~~335 Beginning Scheduled Collateral Loan Count 2,~~049~~033 Number Of Loans Paid In Full 1636 Ending Scheduled Collateral Loan Count 21,~~033~~997 Beginning Scheduled Collateral Balance ~~373~~368,~~038~~251,~~120~~873.9316 Ending Scheduled Collateral Balance ~~368~~360,~~251~~389,~~873~~970.1677 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~368~~360,~~570,~~705,954.3680 Monthly P &I Constant 2,~~454~~425,~~492~~436.0904 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 ~~368~~360,~~251~~389,~~873~~970.1677 Scheduled Principal ~~440~~438,~~208~~067.5084 Unscheduled Principal 47,~~346~~423,~~039~~834.2755 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,153,436.00 Overcollateralized Amount 2,153,436.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~464~~420,~~177~~421.9901

Miscellaneous Reporting Net WAC Rate Carryover Amount Class A-1 0.00 Net WAC Rate Carryover Amount Class A-2 0.00 Net WAC Rate Carryover Amount Class B-1 0.00 Net WAC Rate Carryover Amount Class B-2 0.00 Net WAC Rate Carryover Amount Class M-1 0.00 Net WAC Rate Carryover Amount Class M-2 0.00 Net WAC Rate Carryover Amount Class M-3 0.00 Three month rolling average 0.~~003424~~005547%

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES I LLC 2004-AC3