8-K 1 bst03004_sep.txt SEPT. 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-32 54-2120395 Pooling and Servicing Agreement) (Commission 54-2120396 (State or other File Number) 54-2120397 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 September 27, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-4 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 2003-4 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-4 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: 9/29/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 Trust, relating to the September 27, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 78/31/~~2004~~04 Distribution Date: 89/2527/~~2004~~04 BST Series: 2003-4 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 07384MVM1 SEN 4.~~21474~~18517% 2019,~~713~~942,~~014~~488.8163 7269,~~749~~552.9423 ~~770~~40,~~526~~708.1784 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 32,~~037~~924.9190 0.00 II-A-1 07384MVP4 SEN 4.~~67295~~67218% ~~156~~152,~~627~~334,~~617~~616.5887 ~~609~~593,~~928~~112.1064 42,~~293~~165,~~000~~238.7097 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 3433,~~719~~767.1251 0.00 III-A-1 07384MVR0 SEN 4.~~97351~~97335% 162,~~939~~236,~~476~~021.1823 ~~675~~672,~~317~~380.5399 ~~703~~1,~~454~~361,325.9681 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 30,~~415~~284.3706 0.00 R-I 07384MVT6 SEN 4.~~55610~~55616% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.~~55610~~55616% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.~~55610~~55616% 0.00 0.00 0.00 B-1 07384MVW9 SUB 5.~~00896~~00592% 5,~~919~~914,~~106~~833.3612 24,~~707~~674.1434 4,~~273~~313.2484 B-2 07384MVX7 SUB 5.~~00896~~00592% 4,~~509~~506,~~691~~435.5784 18,~~824~~799.06 3,~~255~~286.7366 B-3 07384MVY5 SUB 5.~~00896~~00592% 3,~~100~~098,~~573~~335.8845 12,~~942~~925.2103 2,~~238~~259.4369 B-4 07384MVZ2 SUB 5.~~00896~~00592% 1,~~409~~408,~~315~~298.7531 5,~~882~~874.6786 1,~~017~~027.4411 B-5 07384MWA6 SUB 5.~~00896~~00592% ~~845~~844,~~530~~919.0361 3,~~529~~524.3667 ~~610~~616.4222 B-6 07384MWB4 SUB 5.~~00896~~00592% 1,~~127~~126,~~616~~802.9992 4,~~706~~700.8257 ~~814~~821.0781 Totals ~~357~~351,~~191~~412,~~943~~751.1598 1,~~496~~472,~~760~~520.2386 53,~~779~~579,~~191~~598.1695

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 19,~~942~~901,~~488~~779.6379 ~~843~~110,~~276~~261.1107 0.00 I-X-A-1 0.00 0.00 32,~~037~~924.9190 0.00 II-A-1 0.00 ~~152~~150,~~334~~169,~~616~~377.8791 42,~~902~~758,~~928~~351.8061 0.00 II-X-A-1 0.00 0.00 3433,~~719~~767.1251 0.00 III-A-1 0.00 ~~162~~160,~~236~~874,~~021~~695.2341 12,~~378~~033,~~772~~706.4980 0.00 III-X-A-1 0.00 0.00 30,~~415~~284.3706 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 B-1 0.00 5,~~914~~910,~~833~~519.1228 28,~~980~~988.3818 0.00 B-2 0.00 4,~~506~~503,~~435~~149.8419 22,~~079~~085.7972 0.00 B-3 0.00 3,~~098~~096,~~335~~075.4576 15,~~180~~184.6472 0.00 B-4 0.00 1,~~408~~407,~~298~~271.3120 6,~~900~~901.1197 0.00 B-5 0.00 844,~~919~~303.6139 4,~~139~~140.7889 0.00 B-6 0.00 1,~~126~~125,~~802~~981.9212 5,~~520~~522.8938 0.00 Totals 0.00 ~~351~~347,~~412~~833,~~751~~153.9805 75,~~275~~052,~~951~~119.3981 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 50,011,600.00 2019,~~713~~942,~~014~~488.8163 25,~~697~~750.5429 ~~744~~14,~~828~~958.6355 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 247,776,800.00 ~~156~~152,~~627~~334,~~617~~616.5887 ~~114~~112,~~964~~286.3381 42,~~178~~052,~~036~~952.3716 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 254,370,500.00 162,~~939~~236,~~476~~021.1823 99,~~248~~338.8323 ~~604~~1,~~206~~261,987.1358 0.00 0.00 III-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5,~~919~~914,~~106~~833.3612 4,~~273~~313.2484 0.00 0.00 0.00 B-2 4,553,800.00 4,~~509~~506,~~691~~435.5784 3,~~255~~286.7366 0.00 0.00 0.00 B-3 3,130,900.00 3,~~100~~098,~~573~~335.8845 2,~~238~~259.4369 0.00 0.00 0.00 B-4 1,423,100.00 1,~~409~~408,~~315~~298.7531 1,~~017~~027.4411 0.00 0.00 0.00 B-5 853,800.00 ~~845~~844,~~530~~919.0361 ~~610~~616.4222 0.00 0.00 0.00 B-6 1,138,646.00 1,~~127~~126,~~616~~802.9992 ~~814~~821.0781 0.00 0.00 0.00 Totals 569,236,346.00 ~~357~~351,~~191~~412,~~943~~751.1598 ~~252~~249,~~120~~700.0366 53,~~527~~329,~~071~~898.1329 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 ~~770~~40,~~526~~708.1784 19,~~942~~901,~~488~~779.6379 0.~~39875726~~39794327 ~~770~~40,~~526~~708.1784 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 42,~~293~~165,~~000~~238.7097 ~~152~~150,~~334~~169,~~616~~377.8791 0.~~61480581~~60606715 42,~~293~~165,~~000~~238.7097 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 ~~703~~1,~~454~~361,325.9681 ~~162~~160,~~236~~874,~~021~~695.2341 0.~~63779417~~63244242 ~~703~~1,~~454~~361,325.9681 III-X-A-1 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 B-1 4,~~273~~313.2484 5,~~914~~910,~~833~~519.1228 0.~~98959898~~98887724 4,~~273~~313.2484 B-2 3,~~255~~286.7366 4,~~506~~503,~~435~~149.8419 0.~~98959898~~98887724 3,~~255~~286.7366 B-3 2,~~238~~259.4369 3,~~098~~096,~~335~~075.4576 0.~~98959898~~98887724 2,~~238~~259.4369 B-4 1,~~017~~027.4411 1,~~408~~407,~~298~~271.3120 0.~~98959898~~98887724 1,~~017~~027.4411 B-5 ~~610~~616.4222 844,~~919~~303.6139 0.~~98959898~~98887724 ~~610~~616.4222 B-6 ~~814~~821.0781 1,~~126~~125,~~802~~981.9212 0.~~98959898~~98887725 ~~814~~821.0781 Totals 53,~~779~~579,~~191~~598.1695 ~~351~~347,~~412~~833,~~751~~153.9805 0.~~61734068~~61105226 53,~~779~~579,~~191~~598.1695

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 50,011,600.00 ~~414~~398.~~16421010~~75726092 0.~~51383159~~51488635 140.~~89311740~~29910161 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 ~~632~~614.~~13189282~~80581261 0.~~46398343~~45317725 168.~~86209673~~28548984 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 ~~640~~637.~~55964107~~79416729 0.~~39017429~~39052575 24.~~37529953~~96121830 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 ~~990~~989.~~31393007~~59898277 0.~~71494730~~72174000 0.00000000 0.00000000 B-2 4,553,800.00 ~~990~~989.~~31392903~~59898107 0.~~71494796~~72174009 0.00000000 0.00000000 B-3 3,130,900.00 ~~990~~989.~~31392890~~59898112 0.~~71494778~~72173816 0.00000000 0.00000000 B-4 1,423,100.00 ~~990~~989.~~31392734~~59898110 0.~~71494624~~72174127 0.00000000 0.00000000 B-5 853,800.00 ~~990~~989.~~31392598~~59898103 0.~~71494495~~72173811 0.00000000 0.00000000 B-6 1,138,646.00 ~~990~~989.~~31392549~~59897984 0.~~71494565~~72174319 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 150.~~40694899~~81398795 ~~398~~397.~~75726092~~94327296 0.~~39875726~~39794327 150.~~40694899~~81398795 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 178.~~32608017~~73866710 ~~614~~606.~~80581261~~06714555 0.~~61480581~~60606715 178.~~32608017~~73866710 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 25.~~76547383~~35174405 ~~637~~632.~~79416729~~44242320 0.~~63779417~~63244242 25.~~76547383~~35174405 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~71494730~~72174000 ~~989~~988.~~59898277~~87724276 0.~~98959898~~98887724 0.~~71494730~~72174000 B-2 0.00000000 0.~~71494796~~72174009 ~~989~~988.~~59898107~~87724318 0.~~98959898~~98887724 0.~~71494796~~72174009 B-3 0.00000000 0.~~71494778~~72173816 ~~989~~988.~~59898112~~87724297 0.~~98959898~~98887724 0.~~71494778~~72173816 B-4 0.00000000 0.~~71494624~~72174127 ~~989~~988.~~59898110~~87723983 0.~~98959898~~98887724 0.~~71494624~~72174127 B-5 0.00000000 0.~~71494495~~72173811 ~~989~~988.~~59898103~~87724291 0.~~98959898~~98887724 0.~~71494495~~72173811 B-6 0.00000000 0.~~71494565~~72174319 ~~989~~988.~~59897984~~87724543 0.~~98959898~~98887725 0.~~71494565~~72174319 (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 50,011,600.00 4.~~21474~~18517% 2019,~~713~~942,~~014~~488.8163 7269,~~749~~552.9323 0.00 0.00 I-X-A-1 0.00 0.17600% 2019,~~713~~942,~~014~~488.8163 32,~~037~~924.9190 0.00 0.00 II-A-1 247,776,800.00 4.~~67295~~67218% ~~156~~152,~~627~~334,~~617~~616.5887 ~~609~~593,~~928~~112.1064 0.00 0.00 II-X-A-1 0.00 0.26600% ~~156~~152,~~627~~334,~~617~~616.5887 3433,~~719~~767.1251 0.00 0.00 III-A-1 254,370,500.00 4.~~97351~~97335% 162,~~939~~236,~~476~~021.1823 ~~675~~672,~~317~~380.5399 0.00 0.00 III-X-A-1 0.00 0.22400% 162,~~939~~236,~~476~~021.1823 30,~~415~~284.3706 0.00 0.00 R-I 100.00 4.~~55610~~55616% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~55610~~55616% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~55610~~55616% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5.~~00896~~00592% 5,~~919~~914,~~106~~833.3612 24,~~707~~674.1434 0.00 0.00 B-2 4,553,800.00 5.~~00896~~00592% 4,~~509~~506,~~691~~435.5784 18,~~824~~799.06 0.00 0.00 B-3 3,130,900.00 5.~~00896~~00592% 3,~~100~~098,~~573~~335.8845 12,~~942~~925.2103 0.00 0.00 B-4 1,423,100.00 5.~~00896~~00592% 1,~~409~~408,~~315~~298.7531 5,~~882~~874.6786 0.00 0.00 B-5 853,800.00 5.~~00896~~00592% ~~845~~844,~~530~~919.0361 3,~~529~~524.3667 0.00 0.00 B-6 1,138,646.00 5.~~00896~~00592% 1,~~127~~126,~~616~~802.9992 4,~~706~~700.8257 0.00 0.00 Totals 569,236,346.00 1,~~496~~472,~~760~~520.2286 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 7269,~~749~~552.9423 0.00 19,~~942~~901,~~488~~779.6379 I-X-A-1 0.00 0.00 32,~~037~~924.9190 0.00 19,~~942~~901,~~488~~779.6379 II-A-1 0.00 0.00 ~~609~~593,~~928~~112.1064 0.00 ~~152~~150,~~334~~169,~~616~~377.8791 II-X-A-1 0.00 0.00 3433,~~719~~767.1251 0.00 ~~152~~150,~~334~~169,~~616~~377.8791 III-A-1 0.0001 0.00 ~~675~~672,~~317~~380.5399 0.00 ~~162~~160,~~236~~874,~~021~~695.2341 III-X-A-1 0.00 0.00 30,~~415~~284.3706 0.00 ~~162~~160,~~236~~874,~~021~~695.2341 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 24,~~707~~674.1434 0.00 5,~~914~~910,~~833~~519.1228 B-2 0.00 0.00 18,~~824~~799.06 0.00 4,~~506~~503,~~435~~149.8419 B-3 0.00 0.00 12,~~942~~925.2103 0.00 3,~~098~~096,~~335~~075.4576 B-4 0.00 0.00 5,~~882~~874.6786 0.00 1,~~408~~407,~~298~~271.3120 B-5 0.00 0.00 3,~~529~~524.3667 0.00 844,~~919~~303.6139 B-6 0.00 0.00 4,~~706~~700.8257 0.00 1,~~126~~125,~~802~~981.9212 Totals 0.0001 0.00 1,~~496~~472,~~760~~520.2386 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 50,011,600.00 4.~~21474~~18517% ~~414~~398.~~16421010~~75726092 1.~~45466112~~39072195 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% ~~414~~398.~~16421010~~75726092 0.~~06074411~~05848443 0.00000000 0.00000000 II-A-1 247,776,800.00 4.~~67295~~67218% ~~632~~614.~~13189282~~80581261 2.~~46160294~~39373759 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% ~~632~~614.~~13189282~~80581261 0.~~14012256~~13628197 0.00000000 0.00000000 III-A-1 254,370,500.00 4.~~97351~~97335% ~~640~~637.~~55964107~~79416729 2.~~65485789~~64331355 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% ~~640~~637.~~55964107~~79416729 0.~~11957114~~11905492 0.00000000 0.00000000 R-I 100.00 4.~~55610~~55616% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~55610~~55616% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~55610~~55616% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 5.~~00896~~00592% ~~990~~989.~~31393007~~59898277 4.~~13370253~~12821482 0.00000000 0.00000000 B-2 4,553,800.00 5.~~00896~~00592% ~~990~~989.~~31392903~~59898107 4.~~13370372~~12821380 0.00000000 0.00000000 B-3 3,130,900.00 5.~~00896~~00592% ~~990~~989.~~31392890~~59898112 4.~~13370277~~12821553 0.00000000 0.00000000 B-4 1,423,100.00 5.~~00896~~00592% ~~990~~989.~~31392734~~59898110 4.~~13370108~~12821306 0.00000000 0.00000000 B-5 853,800.00 5.~~00896~~00592% ~~990~~989.~~31392598~~59898103 4.~~13370813~~12821504 0.00000000 0.00000000 B-6 1,138,646.00 5.~~00896~~00592% ~~990~~989.~~31392549~~59897984 4.~~13369915~~12821017 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.~~45466132~~39072195 0.00000000 ~~398~~397.~~75726092~~94327296 I-X-A-1 0.00000000 0.00000000 0.~~06074411~~05848443 0.00000000 ~~398~~397.~~75726092~~94327296 II-A-1 0.00000000 0.00000000 2.~~46160294~~39373759 0.00000000 ~~614~~606.~~80581261~~06714555 II-X-A-1 0.00000000 0.00000000 0.~~14012256~~13628197 0.00000000 ~~614~~606.~~80581261~~06714555 III-A-1 0.~~00000000~~00000004 0.00000000 2.~~65485789~~64331355 0.00000000 ~~637~~632.~~79416729~~44242320 III-X-A-1 0.00000000 0.00000000 0.~~11957114~~11905492 0.00000000 ~~637~~632.~~79416729~~44242320 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~13370253~~12821482 0.00000000 ~~989~~988.~~59898277~~87724276 B-2 0.00000000 0.00000000 4.~~13370372~~12821380 0.00000000 ~~989~~988.~~59898107~~87724318 B-3 0.00000000 0.00000000 4.~~13370277~~12821553 0.00000000 ~~989~~988.~~59898112~~87724297 B-4 0.00000000 0.00000000 4.~~13370108~~12821306 0.00000000 ~~989~~988.~~59898110~~87723983 B-5 0.00000000 0.00000000 4.~~13370813~~12821504 0.00000000 ~~989~~988.~~59898103~~87724291 B-6 0.00000000 0.00000000 4.~~13369915~~12821017 0.00000000 ~~989~~988.~~59897984~~87724543 (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 75,~~355~~130,~~256~~649.9333 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1418,~~292~~220.9600 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 75,~~369~~148,~~549~~869.8933 Withdrawals Reimbursement for Servicer Advances 914,~~738~~292.4696 Payment of Service Fee 8382,~~860~~456.0456 Payment of Interest and Principal 75,~~275~~052,~~951~~119.3981 Total Withdrawals (Pool Distribution Amount) 75,~~369~~148,~~549~~869.8933 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 0.0001

SERVICING FEES Gross Servicing Fee 8382,~~750~~456.1056 Miscellaneous Fee ~~109~~0.9400 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8382,~~860~~456.0456

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 47 0 0 0 47 3,~~104~~923,~~921~~105.7100 0.00 0.00 0.00 3,~~104~~923,~~921~~105.7100 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 47 0 0 0 47 3,~~104~~923,~~921~~105.7100 0.00 0.00 0.00 3,~~104~~923,~~921~~105.7100 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.~~521512~~919842% 0.000000% 0.000000% 0.000000% 0.~~521512~~919842% 01.~~883082~~127245% 0.000000% 0.000000% 0.000000% 01.~~883082~~127245% 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.~~521512~~919842% 0.000000% 0.000000% 0.000000% 0.~~521512~~919842% 01.~~883082~~127245% 0.000000% 0.000000% 0.000000% 01.~~883082~~127245%

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 01 0 0 0 01 0439,121.0015 0.00 0.00 0.00 0439,121.0015 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 01 0 0 0 01 0439,121.0015 0.00 0.00 0.00 0439,121.0015 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~754386% 0.000000% 0.000000% 0.000000% 01.~~000000~~754386% 02.~~000000~~048346% 0.000000% 0.000000% 0.000000% 02.~~000000~~048346% 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 01.~~000000~~754386% 0.000000% 0.000000% 0.000000% 01.~~000000~~754386% 02.~~000000~~048346% 0.000000% 0.000000% 0.000000% 02.~~000000~~048346% 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 25 0 0 0 25 13,~~847~~174,~~740~~315.3459 0.00 0.00 0.00 13,~~847~~174,~~740~~315.3459 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 25 0 0 0 25 13,~~847~~174,~~740~~315.3459 0.00 0.00 0.00 13,~~847~~174,~~740~~315.3459 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~573066~~445087% 0.000000% 0.000000% 0.000000% 01.~~573066~~445087% 12.~~154799~~011128% 0.000000% 0.000000% 0.000000% 12.~~154799~~011128% 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 01.~~573066~~445087% 0.000000% 0.000000% 0.000000% 01.~~573066~~445087% 12.~~154799~~011128% 0.000000% 0.000000% 0.000000% 12.~~154799~~011128% 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 21 0 0 0 2 1 309,~~257,181~~668.3726 0.00 0.00 0.00 1309,~~257,181~~668.3726 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 21 0 0 0 2 1 309,~~257,181~~668.3726 0.00 0.00 0.00 1309,~~257,181~~668.3726 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~554017~~279330% 0.000000% 0.000000% 0.000000% 0.~~554017~~279330% 0.~~739017~~183506% 0.000000% 0.000000% 0.000000% 0.~~739017~~183506% 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.~~554017~~279330% 0.000000% 0.000000% 0.000000% 0.~~554017~~279330% 0.~~739017~~183506% 0.000000% 0.000000% 0.000000% 0.~~739017~~183506%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1418,~~292~~220.9600

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% ~~331~~327,~~470~~931,~~263~~373.3526 94.~~32505259~~27835449% 95.~~190947~~145000% 0.000000% Class R-I 519,224,646.00 91.21424689% ~~331~~327,~~470~~931,~~263~~373.3526 94.~~32505259~~27835449% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% ~~331~~327,~~470~~931,~~263~~373.3526 94.~~32505259~~27835449% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% ~~331~~327,~~470~~931,~~263~~373.3526 94.~~32505259~~27835449% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% ~~179~~177,~~135~~761,~~646~~995.4835 5051.~~97585257~~10553542% 43.~~349200~~172819% ~~901~~889.~~408254~~244453% Class B-1 11,100,246.00 1.95002411% 10,~~984~~976,~~792~~780.1366 3.~~12589457~~15576033% 1.~~683158~~699240% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,~~478~~473,~~356~~631.2947 1.~~84351770~~86113124% 1.~~282377~~294629% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,~~380~~377,~~020~~555.8471 0.~~96183784~~97102754% 0.~~881680~~890104% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,~~971~~970,~~722~~284.5351 0.~~56108451~~56644529% 0.~~400753~~404582% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,~~126~~125,~~802~~981.9212 0.~~32064941~~32371300% 0.~~240435~~242732% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~320649~~323713% 6.667621% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~310154~~309918% Weighted Average Net Coupon 5.~~028793~~028346% Weighted Average Pass-Through Rate 5.~~028423~~028346% Weighted Average Maturity(Stepdown Calculation ) ~~344~~343 Beginning Scheduled Collateral Loan Count ~~779~~767 Number Of Loans Paid In Full 126 Ending Scheduled Collateral Loan Count ~~767~~761 Beginning Scheduled Collateral Balance ~~357~~351,~~191~~412,~~943~~752.3922 Ending Scheduled Collateral Balance ~~351~~347,~~412~~833,~~752~~153.2227 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~351~~348,~~600~~026,~~706~~055.2678 Monthly P &I Constant 1,~~832~~804,~~740~~678.3206 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 74,~~193~~969,~~149~~295.8094 Ending Scheduled Balance for Premium Loans ~~351~~347,~~412~~833,~~752~~153.2227 Scheduled Principal ~~252~~249,~~120~~700.0466 Unscheduled Principal 53,~~527~~329,~~071~~898.1329

Miscellaneous Reporting Senior Percentage Group 1 9392.~~157979~~920528% Senior Percentage Group 2 95.~~380448~~259755% Senior Percentage Group 3 95.~~429049~~412806% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Subordinate Percentage Group 1 67.~~842021~~079472% Subordinate Percentage Group 2 4.~~619552~~740245% Subordinate Percentage Group 3 4.~~570951~~587194% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~738552~~708052 5.~~222794~~222077 5.~~468607~~468497 Weighted Average Net Rate 4.~~390738~~361168 4.~~939758~~938183 5.~~197510~~197354 Weighted Average Maturity ~~345~~344 344 345 ~~346~~ Beginning Loan Count 5857 ~~358~~349 ~~363~~361 Loans Paid In Full 10 93 23 Ending Loan Count 57 ~~349~~346 ~~361~~358 Beginning Scheduled Balance 2221,~~234~~461,~~289~~876.6612 ~~164~~159,~~213~~914,~~547~~979.8307 170,~~744~~035,~~105~~897.9003 Ending scheduled Balance 21,~~461~~419,~~876~~205.1240 ~~159~~157,~~914~~744,~~979~~152.0757 ~~170~~168,~~035~~669,~~897~~795.0330 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant ~~115~~111,~~383~~915.5220 ~~835~~813,~~243~~781.7234 ~~882~~878,~~113~~981.0852 Scheduled Principal 27,~~584~~712.9117 ~~120~~117,~~532~~874.3934 104,~~002~~114.7415 Unscheduled Principal ~~744~~14,~~828~~958.6355 42,~~178~~052,~~036~~952.3716 ~~604~~1,~~206~~261,987.1358 Scheduled Interest 8784,~~798~~203.6103 ~~714~~695,~~711~~907.3300 ~~778~~774,~~110~~867.3437 Servicing Fees 6,~~444~~203.5099 3837,~~732~~832.0350 38,~~573~~420.5707 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 ~~109~~0.9400 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 8177,~~354~~999.1104 ~~675~~658,~~869~~074.3650 ~~739~~736,~~536~~447.7730 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.~~390738~~361168 4.~~938954~~938183 5.~~197510~~197354

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.~~310154~~309918 Weighted Average Net Rate 5.~~028793~~028346 Weighted Average Maturity ~~344~~343 Beginning Loan Count ~~779~~767 Loans Paid In Full 126 Ending Loan Count ~~767~~761 Beginning Scheduled Balance ~~357~~351,~~191~~412,~~943~~752.3922 Ending scheduled Balance ~~351~~347,~~412~~833,~~752~~153.2227 Record Date 0708/31/2004 Principal And Interest Constant 1,~~832~~804,~~740~~678.3206 Scheduled Principal ~~252~~249,~~120~~700.0466 Unscheduled Principal 53,~~527~~329,~~071~~898.1329 Scheduled Interest 1,~~580~~554,~~620~~977.2840 Servicing Fees 8382,~~750~~456.1056 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee ~~109~~0.9400 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,~~496~~472,~~760~~520.2484 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.~~028423~~028346

Filing Compare · BEAR STEARNS ARM TRUST 2003-4