8-K 1 bst03004_nov.txt NOVEMBER 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): November 26, 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 November 26, 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 November 26, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 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: 11/30/2004 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 November 26, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 810/31/042004 Distribution Date: 911/2726/042004 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.~~18517~~19295% 19,~~942~~869,~~488~~101.6368 69,~~552~~425.2312 40707,~~708~~577.8403 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 2,~~924~~914.9013 0.00 II-A-1 07384MVP4 SEN 4.~~67218~~66525% ~~152~~146,~~334~~600,~~616~~726.8717 ~~593~~569,~~112~~940.6498 2,~~165~~868,~~238~~950.9794 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 3332,~~767~~496.5149 0.00 III-A-1 07384MVR0 SEN 4.~~97335~~96703% ~~162~~157,~~236~~176,~~021~~533.2370 ~~672~~650,~~380~~583.9922 1143,~~361,325~~870.8135 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 3029,~~284~~339.0662 0.00 R-I 07384MVT6 SEN 4.~~55616~~56012% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.~~55616~~56012% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.~~55616~~56012% 0.00 0.00 0.00 B-1 07384MVW9 SUB 5.~~00592~~00068% 5,~~914~~906,~~833~~163.1241 24,~~674~~612.3435 4,~~313~~415.8409 B-2 07384MVX7 SUB 5.~~00592~~00068% 4,~~506~~499,~~435~~830.8451 18,~~799~~751.0684 3,~~286~~363.6680 B-3 07384MVY5 SUB 5.~~00592~~00068% 3,~~098~~093,~~335~~794.4505 12,~~925~~892.0356 2,~~259~~312.6974 B-4 07384MVZ2 SUB 5.~~00592~~00068% 1,~~408~~406,~~298~~234.3109 5,~~874~~860.8610 1,~~027~~051.1122 B-5 07384MWA6 SUB 5.~~00592~~00068% ~~844~~843,~~919~~681.6116 3,~~524~~515.6781 ~~616~~630.2269 B-6 07384MWB4 SUB 5.~~00592~~00068% 1,~~126~~125,~~802~~151.9230 4,~~700~~688.5777 ~~821~~841.8110 Totals ~~351~~340,~~412~~521,~~751~~216.9807 1,~~472~~425,~~520~~020.8699 3,~~579~~733,~~598~~012.9596

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 19,~~901~~161,~~779~~524.7965 ~~110~~777,~~261~~002.0715 0.00 I-X-A-1 0.00 0.00 2,~~924~~914.9013 0.00 II-A-1 0.00 ~~150~~143,~~169~~731,~~377~~775.9123 23,~~758~~438,~~351~~891.6192 0.00 II-X-A-1 0.00 0.00 3332,~~767~~496.5149 0.00 III-A-1 0.00 ~~160~~157,~~874~~032,~~695~~663.4134 2794,~~033,706~~453.8057 0.00 III-X-A-1 0.00 0.00 3029,~~284~~339.0662 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,~~910~~901,~~519~~748.2832 2829,~~988~~027.1844 0.00 B-2 0.00 4,~~503~~496,~~149~~466.1970 22,~~085~~115.7264 0.00 B-3 0.00 3,~~096~~091,~~075~~481.7631 15,~~184~~205.7230 0.00 B-4 0.00 1,~~407~~405,~~271~~182.2087 6,~~901~~911.9732 0.00 B-5 0.00 ~~844~~843,~~303~~050.3948 4,~~140~~146.8950 0.00 B-6 0.00 1,~~125~~124,~~981~~310.1221 5,~~522~~529.3887 0.00 Totals 0.00 ~~347~~336,~~833~~788,~~153~~203.0511 5,~~052~~158,~~119~~033.8195 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 19,~~942~~869,~~488~~101.6368 25,~~750~~983.29 14 681,~~958~~593.5589 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 ~~152~~146,~~334~~600,~~616~~726.8717 ~~112~~110,~~286~~847.8106 2,~~052~~758,~~952~~103.1688 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~~157,~~236~~176,~~021~~533.2370 99,~~338~~058.2345 144,~~261,987~~811.5890 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,~~914~~906,~~833~~163.1241 4,~~313~~415.8409 0.00 0.00 0.00 B-2 4,553,800.00 4,~~506~~499,~~435~~830.8451 3,~~286~~363.6680 0.00 0.00 0.00 B-3 3,130,900.00 3,~~098~~093,~~335~~794.4505 2,~~259~~312.6974 0.00 0.00 0.00 B-4 1,423,100.00 1,~~408~~406,~~298~~234.3109 1,~~027~~051.1122 0.00 0.00 0.00 B-5 853,800.00 ~~844~~843,~~919~~681.6116 ~~616~~630.2269 0.00 0.00 0.00 B-6 1,138,646.00 1,~~126~~125,~~802~~151.9230 ~~821~~841.8110 0.00 0.00 0.00 Totals 569,236,346.00 ~~351~~340,~~412~~521,~~751~~216.9807 ~~249~~248,~~700~~503.6629 3,~~329~~484,~~898~~509.2967 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 40707,~~708~~577.8403 19,~~901~~161,~~779~~524.7965 0.~~39794327~~38314160 40707,~~708~~577.8403 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 2,~~165~~868,~~238~~950.9794 ~~150~~143,~~169~~731,~~377~~775.9123 0.~~60606715~~58008569 2,~~165~~868,~~238~~950.9794 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 1143,~~361,325~~870.8135 ~~160~~157,~~874~~032,~~695~~663.4134 0.~~63244242~~61733834 1143,~~361,325~~870.8135 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,~~313~~415.8409 5,~~910~~901,~~519~~748.2832 0.~~98887724~~98740979 4,~~313~~415.8409 B-2 3,~~286~~363.6680 4,~~503~~496,~~149~~466.1970 0.~~98887724~~98740979 3,~~286~~363.6680 B-3 2,~~259~~312.6974 3,~~096~~091,~~075~~481.7631 0.~~98887724~~98740979 2,~~259~~312.6974 B-4 1,~~027~~051.1122 1,~~407~~405,~~271~~182.2087 0.~~98887724~~98740979 1,~~027~~051.1122 B-5 ~~616~~630.2269 ~~844~~843,~~303~~050.3948 0.~~98887724~~98740979 ~~616~~630.2269 B-6 ~~821~~841.8110 1,~~125~~124,~~981~~310.1221 0.~~98887725~~98740979 ~~821~~841.8110 Totals 3,~~579~~733,~~598~~012.9596 ~~347~~336,~~833~~788,~~153~~203.0511 0.~~61105226~~59164916 3,~~579~~733,~~598~~012.9596

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 ~~398~~397.~~75726092~~28986235 0.~~51488635~~51954227 013.~~29910161~~62871594 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 ~~614~~591.~~80581261~~66445838 0.~~45317725~~44736658 811.~~28548984~~13140488 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 ~~637~~617.~~79416729~~90393815 0.~~39052575~~38942586 40.~~96121830~~17616783 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 ~~989~~988.~~59898277~~14847080 0.~~72174000~~73867994 0.00000000 0.00000000 B-2 4,553,800.00 ~~989~~988.~~59898107~~14847161 0.~~72174009~~73867978 0.00000000 0.00000000 B-3 3,130,900.00 ~~989~~988.~~59898112~~14847169 0.~~72173816~~73868217 0.00000000 0.00000000 B-4 1,423,100.00 ~~989~~988.~~59898110~~14847165 0.~~72174127~~73868316 0.00000000 0.00000000 B-5 853,800.00 ~~989~~988.~~59898103~~14846568 0.~~72173811~~73868587 0.00000000 0.00000000 B-6 1,138,646.00 ~~989~~988.~~59897984~~14846757 0.~~72174319~~73868437 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 014.~~81398795~~14825820 ~~397~~383.~~94327296~~14160415 0.~~39794327~~38314160 014.~~81398795~~14825820 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 811.~~73866710~~57877146 ~~606~~580.~~06714555~~08568692 0.~~60606715~~58008569 811.~~73866710~~57877146 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 50.~~35174405~~56559369 ~~632~~617.~~44242320~~33834442 0.~~63244242~~61733834 50.~~35174405~~56559369 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.~~72174000~~73867994 ~~988~~987.~~87724276~~40979086 0.~~98887724~~98740979 0.~~72174000~~73867994 B-2 0.00000000 0.~~72174009~~73867978 ~~988~~987.~~87724318~~40978963 0.~~98887724~~98740979 0.~~72174009~~73867978 B-3 0.00000000 0.~~72173816~~73868217 ~~988~~987.~~87724297~~40978952 0.~~98887724~~98740979 0.~~72173816~~73868217 B-4 0.00000000 0.~~72174127~~73868316 ~~988~~987.~~87723983~~40978849 0.~~98887724~~98740979 0.~~72174127~~73868316 B-5 0.00000000 0.~~72173811~~73868587 ~~988~~987.~~87724291~~40979152 0.~~98887724~~98740979 0.~~72173811~~73868587 B-6 0.00000000 0.~~72174319~~73868437 ~~988~~987.~~87724543~~40979198 0.~~98887725~~98740979 0.~~72174319~~73868437 (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.~~18517~~19295% 19,~~942~~869,~~488~~101.6368 69,~~552~~425.2312 0.00 0.00 I-X-A-1 0.00 0.17600% 19,~~942~~869,~~488~~101.6368 2,~~924~~914.9013 0.00 0.00 II-A-1 247,776,800.00 4.~~67218~~66525% ~~152~~146,~~334~~600,~~616~~726.8717 ~~593~~569,~~112~~940.6497 0.00 0.00 II-X-A-1 0.00 0.26600% ~~152~~146,~~334~~600,~~616~~726.8717 3332,~~767~~496.5149 0.00 0.00 III-A-1 254,370,500.00 4.~~97335~~96703% ~~162~~157,~~236~~176,~~021~~533.2370 ~~672~~650,~~380~~583.9921 0.00 0.00 III-X-A-1 0.00 0.22400% ~~162~~157,~~236~~176,~~021~~533.2370 3029,~~284~~339.0662 0.00 0.00 R-I 100.00 4.~~55616~~56012% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~55616~~56012% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~55616~~56012% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5.~~00592~~00068% 5,~~914~~906,~~833~~163.1241 24,~~674~~612.3435 0.00 0.00 B-2 4,553,800.00 5.~~00592~~00068% 4,~~506~~499,~~435~~830.8451 18,~~799~~751.0684 0.00 0.00 B-3 3,130,900.00 5.~~00592~~00068% 3,~~098~~093,~~335~~794.4505 12,~~925~~892.0356 0.00 0.00 B-4 1,423,100.00 5.~~00592~~00068% 1,~~408~~406,~~298~~234.3109 5,~~874~~860.8610 0.00 0.00 B-5 853,800.00 5.~~00592~~00068% ~~844~~843,~~919~~681.6116 3,~~524~~515.6781 0.00 0.00 B-6 1,138,646.00 5.~~00592~~00068% 1,~~126~~125,~~802~~151.9230 4,~~700~~688.5777 0.00 0.00 Totals 569,236,346.00 1,~~472~~425,~~520~~020.8697 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 69,~~552~~425.2312 0.00 19,~~901~~161,~~779~~524.7965 I-X-A-1 0.00 0.00 2,~~924~~914.9013 0.00 19,~~901~~161,~~779~~524.7965 II-A-1 0.00 0.00 ~~593~~569,~~112~~940.6498 0.00 ~~150~~143,~~169~~731,~~377~~775.9123 II-X-A-1 0.00 0.00 3332,~~767~~496.5149 0.00 ~~150~~143,~~169~~731,~~377~~775.9123 III-A-1 0.0100 0.00 ~~672~~650,~~380~~583.9922 0.00 ~~160~~157,~~874~~032,~~695~~663.4134 III-X-A-1 0.00 0.00 3029,~~284~~339.0662 0.00 ~~160~~157,~~874~~032,~~695~~663.4134 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,~~674~~612.3435 0.00 5,~~910~~901,~~519~~748.2832 B-2 0.00 0.00 18,~~799~~751.0684 0.00 4,~~503~~496,~~149~~466.1970 B-3 0.00 0.00 12,~~925~~892.0356 0.00 3,~~096~~091,~~075~~481.7631 B-4 0.00 0.00 5,~~874~~860.8610 0.00 1,~~407~~405,~~271~~182.2087 B-5 0.00 0.00 3,~~524~~515.6781 0.00 ~~844~~843,~~303~~050.3948 B-6 0.00 0.00 4,~~700~~688.5777 0.00 1,~~125~~124,~~981~~310.1221 Totals 0.0100 0.00 1,~~472~~425,~~520~~020.8699 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.~~18517~~19295% ~~398~~397.~~75726092~~28986235 1.~~39072195~~38818034 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% ~~398~~397.~~75726092~~28986235 0.~~05848443~~05826908 0.00000000 0.00000000 II-A-1 247,776,800.00 4.~~67218~~66525% ~~614~~591.~~80581261~~66445838 2.~~39373759~~30021927 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% ~~614~~591.~~80581261~~66445838 0.~~13628197~~13115227 0.00000000 0.00000000 III-A-1 254,370,500.00 4.~~97335~~96703% ~~637~~617.~~79416729~~90393815 2.~~64331355~~55762052 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% ~~637~~617.~~79416729~~90393815 0.~~11905492~~11534207 0.00000000 0.00000000 R-I 100.00 4.~~55616~~56012% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~55616~~56012% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~55616~~56012% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 5.~~00592~~00068% ~~989~~988.~~59898277~~14847080 4.~~12821482~~11784340 0.00000000 0.00000000 B-2 4,553,800.00 5.~~00592~~00068% ~~989~~988.~~59898107~~14847161 4.~~12821380~~11784444 0.00000000 0.00000000 B-3 3,130,900.00 5.~~00592~~00068% ~~989~~988.~~59898112~~14847169 4.~~12821553~~11784471 0.00000000 0.00000000 B-4 1,423,100.00 5.~~00592~~00068% ~~989~~988.~~59898110~~14847165 4.~~12821306~~11784133 0.00000000 0.00000000 B-5 853,800.00 5.~~00592~~00068% ~~989~~988.~~59898103~~14846568 4.~~12821504~~11783790 0.00000000 0.00000000 B-6 1,138,646.00 5.~~00592~~00068% ~~989~~988.~~59897984~~14846757 4.~~12821017~~11784699 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.~~39072195~~38818034 0.00000000 ~~397~~383.~~94327296~~14160415 I-X-A-1 0.00000000 0.00000000 0.~~05848443~~05826908 0.00000000 ~~397~~383.~~94327296~~14160415 II-A-1 0.00000000 0.00000000 2.~~39373759~~30021931 0.00000000 ~~606~~580.~~06714555~~08568692 II-X-A-1 0.00000000 0.00000000 0.~~13628197~~13115227 0.00000000 ~~606~~580.~~06714555~~08568692 III-A-1 0.~~00000004~~00000000 0.00000000 2.~~64331355~~55762056 0.00000000 ~~632~~617.~~44242320~~33834442 III-X-A-1 0.00000000 0.00000000 0.~~11905492~~11534207 0.00000000 ~~632~~617.~~44242320~~33834442 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.~~12821482~~11784340 0.00000000 ~~988~~987.~~87724276~~40979086 B-2 0.00000000 0.00000000 4.~~12821380~~11784444 0.00000000 ~~988~~987.~~87724318~~40978963 B-3 0.00000000 0.00000000 4.~~12821553~~11784471 0.00000000 ~~988~~987.~~87724297~~40978952 B-4 0.00000000 0.00000000 4.~~12821306~~11784133 0.00000000 ~~988~~987.~~87723983~~40978849 B-5 0.00000000 0.00000000 4.~~12821504~~11783790 0.00000000 ~~988~~987.~~87724291~~40979152 B-6 0.00000000 0.00000000 4.~~12821017~~11784699 0.00000000 ~~988~~987.~~87724543~~40979198 (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 5,~~130~~235,~~649~~789.3334 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1811,~~220~~882.0016 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 5,~~148~~247,~~869~~671.3350 Withdrawals Reimbursement for Servicer Advances 149,~~292~~614.9633 Payment of Service Fee 8280,~~456~~023.5622 Payment of Interest and Principal 5,~~052~~158,~~119~~033.8195 Total Withdrawals (Pool Distribution Amount) 5,~~148~~247,~~869~~671.3350 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 0.0100

SERVICING FEES Gross Servicing Fee 8280,~~456~~023.5622 Miscellaneous Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8280,~~456~~023.5622

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 74 0 0 0 74 32,~~923~~455,~~105~~666.0080 0.00 0.00 0.00 32,~~923~~455,~~105~~666.0080 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 74 0 0 0 74 32,~~923~~455,~~105~~666.0080 0.00 0.00 0.00 32,~~923~~455,~~105~~666.0080 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.~~919842~~539811% 0.000000% 0.000000% 0.000000% 0.~~919842~~539811% 10.~~127245~~728732% 0.000000% 0.000000% 0.000000% 10.~~127245~~728732% 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.~~919842~~539811% 0.000000% 0.000000% 0.000000% 0.~~919842~~539811% 10.~~127245~~728732% 0.000000% 0.000000% 0.000000% 10.~~127245~~728732%

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 10 0 0 0 10 ~~439,121~~0.1500 0.00 0.00 0.00 ~~439,121~~0.1500 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 10 0 0 0 10 ~~439,121~~0.1500 0.00 0.00 0.00 ~~439,121~~0.1500 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~754386~~000000% 0.000000% 0.000000% 0.000000% 10.~~754386~~000000% 20.~~048346~~000000% 0.000000% 0.000000% 0.000000% 20.~~048346~~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 10.~~754386~~000000% 0.000000% 0.000000% 0.000000% 10.~~754386~~000000% 20.~~048346~~000000% 0.000000% 0.000000% 0.000000% 20.~~048346~~000000% 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 52 0 0 0 52 3982,~~174,315~~622.5979 0.00 0.00 0.00 3982,~~174,315~~622.5979 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 52 0 0 0 52 3982,~~174,315~~622.5979 0.00 0.00 0.00 3982,~~174,315~~622.5979 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~445087~~598802% 0.000000% 0.000000% 0.000000% 10.~~445087~~598802% 20.~~011128~~649089% 0.000000% 0.000000% 0.000000% 20.~~011128~~649089% 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.~~445087~~598802% 0.000000% 0.000000% 0.000000% 10.~~445087~~598802% 20.~~011128~~649089% 0.000000% 0.000000% 0.000000% 20.~~011128~~649089% 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 12 0 0 0 12 ~~309~~1,~~668~~473,044.2601 0.00 0.00 0.00 ~~309~~1,~~668~~473,044.2601 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 12 0 0 0 12 ~~309~~1,~~668~~473,044.2601 0.00 0.00 0.00 ~~309~~1,~~668~~473,044.2601 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~279330~~568182% 0.000000% 0.000000% 0.000000% 0.~~279330~~568182% 0.~~183506~~893302% 0.000000% 0.000000% 0.000000% 0.~~183506~~893302% 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.~~279330~~568182% 0.000000% 0.000000% 0.000000% 0.~~279330~~568182% 0.~~183506~~893302% 0.000000% 0.000000% 0.000000% 0.~~183506~~893302%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1811,~~220~~882.0016

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% ~~327~~317,~~931~~626,~~373~~678.2646 94.~~27835449~~31051186% 9594.~~145000~~993221% 0.000000% Class R-I 519,224,646.00 91.21424689% ~~327~~317,~~931~~626,~~373~~678.2646 94.~~27835449~~31051186% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% ~~327~~317,~~931~~626,~~373~~678.2646 94.~~27835449~~31051186% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% ~~327~~317,~~931~~626,~~373~~678.2646 94.~~27835449~~31051186% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% ~~177~~173,~~761~~894,~~995~~903.3523 51.~~10553542~~63331183% 4342.~~172819~~677200% ~~889~~852.~~244453~~388391% Class B-1 11,100,246.00 1.95002411% 10,~~976~~960,~~780~~491.6657 3.~~15576033~~25441671% 1.~~699240~~752362% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,~~473~~464,~~631~~024.4787 1.~~86113124~~91931451% 1.~~294629~~335102% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,~~377~~372,~~555~~543.7156 01.~~97102754~~00138411% 0.~~890104~~917930% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,~~970~~967,~~284~~360.5169 0.~~56644529~~58415368% 0.~~404582~~417230% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,~~125~~124,~~981~~310.1221 0.~~32371300~~33383301% 0.~~242732~~250321% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~323713~~333833% 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.~~309918~~303790% Weighted Average Net Coupon 5.~~028346~~021788% Weighted Average Pass-Through Rate 5.~~028346~~021787% Weighted Average Maturity(Stepdown Calculation ) ~~343~~341 Beginning Scheduled Collateral Loan Count ~~767~~748 Number Of Loans Paid In Full 67 Ending Scheduled Collateral Loan Count ~~761~~741 Beginning Scheduled Collateral Balance ~~351~~340,~~412~~521,~~752~~216.2230 Ending Scheduled Collateral Balance ~~347~~336,~~833~~788,~~153~~203.2734 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~348~~336,~~026~~978,~~055~~245.7853 Monthly P &I Constant 1,~~804~~753,~~678~~547.0650 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 45,~~969~~075,~~295~~097.9488 Ending Scheduled Balance for Premium Loans ~~347~~336,~~833~~788,~~153~~203.2734 Scheduled Principal ~~249~~248,~~700~~503.6629 Unscheduled Principal 3,~~329~~484,~~898~~509.2967

Miscellaneous Reporting Senior Percentage Group 1 92.~~920528~~913340% Senior Percentage Group 2 95.~~259755~~090395% Senior Percentage Group 3 95.~~412806~~277673% 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 7.~~079472~~086660% Subordinate Percentage Group 2 4.~~740245~~909605% Subordinate Percentage Group 3 4.~~587194~~722327% 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.~~708052~~715833 5.~~222077~~215595 5.~~468497~~462429 Weighted Average Net Rate 4.~~361168~~368949 4.~~938183~~931251 5.~~197354~~191026 Weighted Average Maturity ~~344~~342 ~~344~~342 ~~345~~343 Beginning Loan Count 57 ~~349~~339 ~~361~~352 Loans Paid In Full 02 35 30 Ending Loan Count 5755 ~~346~~334 ~~358~~352 Beginning Scheduled Balance 21,~~461~~384,~~876~~552.1219 ~~159~~154,~~914~~169,~~979~~857.0787 ~~170~~164,~~035~~966,~~897~~806.0324 Ending scheduled Balance 2120,~~419~~674,~~205~~993.4038 ~~157~~151,~~744~~295,~~152~~183.5779 ~~168~~164,~~669~~818,~~795~~026.3017 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~111~~112,~~915~~003.2024 ~~813~~786,~~781~~643.3415 ~~878~~854,~~981~~901.5211 Scheduled Principal 27,~~712~~964.1792 ~~117~~116,~~874~~570.3420 ~~104~~103,~~114~~968.1517 Unscheduled Principal 14681,~~958~~593.5589 2,~~052~~758,~~952~~103.1688 144,~~261,987~~811.5890 Scheduled Interest 84,~~203~~038.0332 ~~695~~670,~~907~~072.0095 ~~774~~750,~~867~~932.3794 Servicing Fees 6,~~203~~181.9963 3736,~~832~~531.5007 3837,~~420~~310.0752 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 77,~~999~~856.0469 ~~658~~633,~~074~~541.5088 ~~736~~713,~~447~~622.3042 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.~~361168~~368950 4.~~938183~~931251 5.~~197354~~191026

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.~~309918~~303790 Weighted Average Net Rate 5.~~028346~~021788 Weighted Average Maturity ~~343~~341 Beginning Loan Count ~~767~~748 Loans Paid In Full 67 Ending Loan Count ~~761~~741 Beginning Scheduled Balance ~~351~~340,~~412~~521,~~752~~216.2230 Ending scheduled Balance ~~347~~336,~~833~~788,~~153~~203.2734 Record Date 0810/31/2004 Principal And Interest Constant 1,~~804~~753,~~678~~547.0650 Scheduled Principal ~~249~~248,~~700~~503.6629 Unscheduled Principal 3,~~329~~484,~~898~~509.2967 Scheduled Interest 1,~~554~~505,~~977~~044.4021 Servicing Fees 8280,~~456~~023.5622 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,~~472~~425,~~520~~020.8499 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.~~028346~~021787

Filing Compare · BEAR STEARNS ARM TRUST 2003-4