8-K 1 bsl04001_nov.txt NOV 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): November 26, 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 November 26, 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 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 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: 11/29/04 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 November 26, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 810/31/~~2004~~04 Distribution Date: 911/2726/~~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.~~89131~~90015% 3429,~~633~~780,~~476~~059.4120 8371,~~321~~680.3105 21,~~975~~643,~~632~~123.3036 I-X-A-1 07386HFF3 SEN 2.46200% 0.00 7060,~~949~~850.4270 0.00 I-A-2 07386HFG1 SEN 4.~~66731~~67615% 5547,~~507~~728,~~292~~689.0856 ~~215~~185,~~566~~233.7674 42,~~769~~633,~~064~~444.7523 I-X-A-2 07386HFH9 SEN 0.68600% 0.00 3127,~~683~~174.9213 0.00 II-A-1 07386HFK2 SEN 3.~~75085~~76274% 5854,~~017~~164,~~431~~531.9151 ~~181~~169,~~174~~436.4431 1,~~566~~862,~~654~~853.5970 II-X-A-1 07386HFR7 SEN 1.69800% 0.00 8276,~~017~~460.2190 0.00 II-A-2 07386HFS5 SEN 3.~~73285~~74474% 1918,~~339~~054,~~117~~819.4003 6056,~~101~~208.5851 ~~522~~620,~~217~~950.4838 II-X-A-2 07386HFT3 SEN 1.71600% 0.00 2725,~~628~~757.8511 0.00 II-A-3 07386HFU0 SEN 4.~~25985~~27175% 6561,~~797~~427,~~285~~730.5708 ~~233~~218,~~351~~150.7364 12,~~776~~112,~~735~~653.3026 II-X-A-3 07386HFV8 SEN 1.18900% 0.00 6560,~~132~~720.6318 0.00 III-A-1 07386HFW6 SEN 4.~~57373~~56619% 1110,~~235~~728,~~380~~175.3764 4239,~~328~~655.4653 ~~219~~4,~~005~~383.7824 III-X-A-1 07386HFX4 SEN 1.14200% 0.00 109,~~568~~917.8580 0.00 IV-A-1 07386HFY2 SEN 3.~~59675~~59762% 7770,~~156~~826,~~397~~330.9506 ~~230~~211,~~839~~351.9201 23,~~951~~375,~~295~~532.9179 IV-X-A-1 07386HFZ9 SEN 1.70100% 0.00 ~~109~~99,~~170~~929.4643 0.00 V-A-1 07386HFJ5 SEN 5.~~46559~~45777% ~~135~~125,~~119~~603,~~435~~114.7274 ~~614~~569,~~801~~796.2389 45,~~753~~984,~~561~~956.2650 R 07386HFL0 RES 0.00000% 0.00 0.00 0.00 M 07386HFM8 SUB 5.~~41509~~41873% 17,~~538~~531,~~620~~592.4975 7978,~~026~~864.5507 3,~~540~~495.5916 B-1 07386HFN6 SUB 5.~~41509~~41873% 14,~~769~~763,~~480~~562.2713 66,~~549~~412.2037 2,~~981~~943.5732 B-2 07386HFP1 SUB 5.~~41509~~41873% 10,~~769~~764,~~233~~918.7551 48,~~524~~424.6588 2,~~174~~146.0313 B-3 07386HFQ9 SUB 5.~~41509~~41873% 7,~~384~~381,~~740~~781.1407 33,~~274~~206.6018 1,~~490~~471.7966 B-4 07386HGA3 SUB 5.~~41509~~41873% 6,~~461~~459,~~759~~170.9875 29,~~115~~055.7892 1,~~304~~287.4672 B-5 07386HGB1 SUB 5.~~41509~~41873% 2,~~769~~767,~~040~~930.3478 12,~~476~~451.9125 ~~559~~551.0082 B-6 07386HGC9 SUB 5.~~41509~~41873% 1,~~846~~845,~~552~~812.6069 8,~~320~~303.3120 ~~372~~367.7799 Totals ~~518~~479,~~345~~828,~~244~~218.9850 2,~~335~~159,~~924~~040.7780 1918,~~546~~250,~~590~~161.5826

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 3128,~~657~~136,~~844~~935.1184 31,~~058~~714,~~953~~803.6141 0.00 I-X-A-1 0.00 0.00 7060,~~949~~850.4270 0.00 I-A-2 0.00 5045,~~738~~095,~~227~~245.3334 42,~~984~~818,~~631~~677.5197 0.00 I-X-A-2 0.00 0.00 3127,~~683~~174.9213 0.00 II-A-1 0.00 5652,~~450~~301,~~777~~677.3281 12,~~747~~032,~~829~~290.0301 0.00 II-X-A-1 0.00 0.00 8276,~~017~~460.2190 0.00 II-A-2 0.00 1817,~~816~~433,~~899~~868.9265 ~~582~~677,~~319~~158.0689 0.00 II-X-A-2 0.00 0.00 2725,~~628~~757.8511 0.00 II-A-3 0.00 6459,~~020~~315,~~550~~076.2782 2,~~010~~330,~~087~~803.0390 0.00 II-X-A-3 0.00 0.00 6560,~~132~~720.6318 0.00 III-A-1 0.00 1110,~~016~~723,~~374~~792.6041 ~~261~~44,~~334~~038.2477 0.00 III-X-A-1 0.00 0.00 109,~~568~~917.8580 0.00 IV-A-1 0.00 7467,~~205~~450,~~102~~797.0427 3,~~182~~586,~~135~~883.8380 0.00 IV-X-A-1 0.00 0.00 ~~109~~99,~~170~~929.4643 0.00 V-A-1 0.00 ~~130~~119,~~365~~618,~~874~~158.4624 56,~~368~~554,~~362~~753.4939 0.00 R 0.00 0.00 0.00 0.00 M 0.00 17,~~535~~528,~~079~~097.9059 82,~~567~~359.1423 0.00 B-1 0.00 14,~~766~~760,~~498~~618.7081 69,~~530~~355.7769 0.00 B-2 0.00 10,~~767~~762,~~059~~772.7238 50,~~698~~571.6801 0.00 B-3 0.00 7,~~383~~380,~~249~~309.3541 34,~~765~~677.3984 0.00 B-4 0.00 6,~~460~~457,~~455~~883.5203 30,~~420~~343.2464 0.00 B-5 0.00 2,~~768~~767,~~481~~378.3496 13,~~035~~003.9107 0.00 B-6 0.00 1,~~846~~845,~~179~~444.8370 8,~~693~~671.0819 0.00 Totals 0.00 ~~498~~461,~~798~~578,~~654~~057.4126 2120,~~882~~409,~~515~~202.3506 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 3429,~~633~~780,~~476~~059.4120 43,~~880~~981.2117 21,~~970~~639,~~752~~142.1019 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 5547,~~507~~728,~~292~~689.0856 76,~~821~~380.5465 42,~~761~~627,~~243~~063.2158 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 5854,~~017~~164,~~431~~531.9151 98,~~128~~175.3938 1,~~557~~854,~~526~~678.1932 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 1918,~~339~~054,~~117~~819.4003 32,~~042~~725.7912 ~~519~~618,~~174~~225.6826 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 6561,~~797~~427,~~285~~730.5708 109,~~352~~271.4766 12,~~766~~103,~~382~~381.8360 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 1110,~~235~~728,~~380~~175.3764 2,~~400~~411.2078 ~~216~~1,~~605~~971.5846 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 7770,~~156~~826,~~397~~330.9506 1817,~~218~~390.3887 23,~~933~~358,~~077~~141.5392 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 ~~135~~125,~~119~~603,~~435~~114.7274 3835,~~380~~409.7390 45,~~715~~949,~~180~~546.5360 0.00 0.00 R 100.00 0.00 0.00 0.00 0.00 0.00 M 17,559,900.00 17,~~538~~531,~~620~~592.4975 3,~~540~~495.5916 0.00 0.00 0.00 B-1 14,787,400.00 14,~~769~~763,~~480~~562.2713 2,~~981~~943.5732 0.00 0.00 0.00 B-2 10,782,300.00 10,~~769~~764,~~233~~918.7551 2,~~174~~146.0313 0.00 0.00 0.00 B-3 7,393,700.00 7,~~384~~381,~~740~~781.1407 1,~~490~~471.7966 0.00 0.00 0.00 B-4 6,469,600.00 6,~~461~~459,~~759~~170.9875 1,~~304~~287.4672 0.00 0.00 0.00 B-5 2,772,400.00 2,~~769~~767,~~040~~930.3478 ~~559~~551.0082 0.00 0.00 0.00 B-6 1,848,793.00 1,~~846~~845,~~552~~812.6069 ~~372~~367.7799 0.00 0.00 0.00 Totals 616,139,193.00 ~~518~~479,~~345~~828,~~244~~218.9850 ~~106~~98,~~647~~010.9233 1918,~~439~~152,~~942~~150.6593 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 21,~~975~~643,~~632~~123.3036 3128,~~657~~136,~~844~~935.1184 0.~~66809702~~59379290 21,~~975~~643,~~632~~123.3036 I-X-A-1 0.00 0.00 0.00000000 0.00 I-A-2 42,~~769~~633,~~064~~444.7523 5045,~~738~~095,~~227~~245.3334 0.~~66809702~~59379290 42,~~769~~633,~~064~~444.7523 I-X-A-2 0.00 0.00 0.00000000 0.00 II-A-1 1,~~566~~862,~~654~~853.5970 5652,~~450~~301,~~777~~677.3281 0.~~77556765~~71856388 1,~~566~~862,~~654~~853.5970 II-X-A-1 0.00 0.00 0.00000000 0.00 II-A-2 ~~522~~620,~~217~~950.4838 1817,~~816~~433,~~899~~868.9265 0.~~77556765~~71856388 ~~522~~620,~~217~~950.4838 II-X-A-2 0.00 0.00 0.00000000 0.00 II-A-3 12,~~776~~112,~~735~~653.3026 6459,~~020~~315,~~550~~076.2782 0.~~77556765~~71856388 12,~~776~~112,~~735~~653.3026 II-X-A-3 0.00 0.00 0.00000000 0.00 III-A-1 ~~219~~4,~~005~~383.7824 1110,~~016~~723,~~374~~792.6041 0.~~79533146~~77420837 ~~219~~4,~~005~~383.7824 III-X-A-1 0.00 0.00 0.00000000 0.00 IV-A-1 23,~~951~~375,~~295~~532.9179 7467,~~205~~450,~~102~~797.0427 0.~~85245209~~77486010 23,~~951~~375,~~295~~532.9179 IV-X-A-1 0.00 0.00 0.00000000 0.00 V-A-1 45,~~753~~984,~~561~~956.2650 ~~130~~119,~~365~~618,~~874~~158.4624 0.~~86506884~~79375022 45,~~753~~984,~~561~~956.2650 R 0.00 0.00 0.00000000 0.00 M 3,~~540~~495.5916 17,~~535~~528,~~079~~097.9059 0.~~99858655~~99818892 3,~~540~~495.5916 B-1 2,~~981~~943.5732 14,~~766~~760,~~498~~618.7081 0.~~99858655~~99818892 2,~~981~~943.5732 B-2 2,~~174~~146.0313 10,~~767~~762,~~059~~772.7238 0.~~99858655~~99818892 2,~~174~~146.0313 B-3 1,~~490~~471.7966 7,~~383~~380,~~249~~309.3541 0.~~99858655~~99818892 1,~~490~~471.7966 B-4 1,~~304~~287.4672 6,~~460~~457,~~455~~883.5203 0.~~99858655~~99818892 1,~~304~~287.4672 B-5 ~~559~~551.0082 2,~~768~~767,~~481~~378.3496 0.~~99858655~~99818892 ~~559~~551.0082 B-6 ~~372~~367.7799 1,~~846~~845,~~179~~444.8370 0.~~99858655~~99818893 ~~372~~367.7799 Totals 1918,~~546~~250,~~590~~161.5826 ~~498~~461,~~798~~578,~~654~~057.4126 0.~~80955515~~74914575 1918,~~546~~250,~~590~~161.5826

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 ~~730~~628.~~89381282~~46884780 0.~~10299039~~08401734 6234.~~69380248~~59193270 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 75,944,400.00 ~~730~~628.~~89381284~~46884774 0.~~10299035~~08401739 6234.~~69380244~~59193278 0.00000000 I-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 72,786,400.00 ~~797~~744.~~09165325~~15730837 0.~~12541340~~11232016 2125.~~39858806~~48111076 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 24,262,100.00 ~~797~~744.~~09165324~~15730831 0.~~12541330~~11232004 2125.~~39858792~~48111087 0.00000000 II-X-A-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 82,546,700.00 ~~797~~744.~~09165321~~15730829 0.~~12541349~~11232018 2125.~~39858807~~48111069 0.00000000 II-X-A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 13,851,300.00 ~~811~~774.~~14266314~~52482005 0.~~17328337~~17411940 150.~~63792424~~14233032 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 87,049,000.00 ~~886~~813.~~35593689~~63749222 0.~~20928879~~19978254 3338.~~69455743~~57760480 0.00000000 IV-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 V-A-1 150,700,000.00 ~~896~~833.~~61204857~~46459681 0.~~25468301~~23496948 3139.~~28852376~~47940677 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 M 17,559,900.00 998.~~78817590~~38796064 0.~~20162928~~19904214 0.00000000 0.00000000 B-1 14,787,400.00 998.~~78817574~~38796070 0.~~20162909~~19904243 0.00000000 0.00000000 B-2 10,782,300.00 998.~~78817599~~38796082 0.~~20162952~~19904195 0.00000000 0.00000000 B-3 7,393,700.00 998.~~78817642~~38796137 0.~~20162977~~19904243 0.00000000 0.00000000 B-4 6,469,600.00 998.~~78817547~~38796062 0.~~20162916~~19904167 0.00000000 0.00000000 B-5 2,772,400.00 998.~~78817631~~38795989 0.~~20163036~~19904054 0.00000000 0.00000000 B-6 1,848,793.00 998.~~78818234~~38796988 0.~~20162885~~19904338 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 6234.~~79679266~~67595003 ~~668~~593.~~09702016~~79289777 0.~~66809702~~59379290 6234.~~79679266~~67595003 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2 0.00000000 6234.~~79679279~~67595017 ~~668~~593.~~09702006~~79289770 0.~~66809702~~59379290 6234.~~79679279~~67595017 I-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 2125.~~52400160~~59343092 ~~775~~718.~~56765165~~56387746 0.~~77556765~~71856388 2125.~~52400160~~59343092 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 2125.~~52400163~~59343091 ~~775~~718.~~56765160~~56387741 0.~~77556765~~71856388 2125.~~52400163~~59343091 II-X-A-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-3 0.00000000 2125.~~52400157~~59343087 ~~775~~718.~~56765164~~56387742 0.~~77556765~~71856388 2125.~~52400157~~59343087 II-X-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 150.~~81120761~~31644972 ~~795~~774.~~33145625~~20837106 0.~~79533146~~77420837 150.~~81120761~~31644972 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 IV-A-1 0.00000000 3338.~~90384622~~77738733 ~~852~~774.~~45209066~~86010488 0.~~85245209~~77486010 3338.~~90384622~~77738733 IV-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 V-A-1 0.00000000 3139.~~54320677~~71437624 ~~865~~793.~~06884180~~75022057 0.~~86506884~~79375022 3139.~~54320677~~71437624 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.00000000 0.~~20162928~~19904214 998.~~58654662~~18891850 0.~~99858655~~99818892 0.~~20162928~~19904214 B-1 0.00000000 0.~~20162909~~19904243 998.~~58654665~~18891827 0.~~99858655~~99818892 0.~~20162909~~19904243 B-2 0.00000000 0.~~20162952~~19904195 998.~~58654647~~18891888 0.~~99858655~~99818892 0.~~20162952~~19904195 B-3 0.00000000 0.~~20162977~~19904243 998.~~58654665~~18891894 0.~~99858655~~99818892 0.~~20162977~~19904243 B-4 0.00000000 0.~~20162916~~19904167 998.~~58654631~~18891894 0.~~99858655~~99818892 0.~~20162916~~19904167 B-5 0.00000000 0.~~20163036~~19904054 998.~~58654595~~18891935 0.~~99858655~~99818892 0.~~20163036~~19904054 B-6 0.00000000 0.~~20162885~~19904338 998.~~58655350~~18892651 0.~~99858655~~99818893 0.~~20162885~~19904338 (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.~~89131~~90015% 3429,~~633~~780,~~476~~059.4120 8371,~~446~~972.8925 0.00 0.00 I-X-A-1 0.00 2.46200% 3429,~~633~~780,~~476~~059.4120 7161,~~056~~098.3575 0.00 0.00 I-A-2 75,944,400.00 4.~~66731~~67615% 5547,~~507~~728,~~292~~689.0856 ~~215~~185,~~891~~988.6584 0.00 0.00 I-X-A-2 0.00 0.68600% 5547,~~507~~728,~~292~~689.0856 3127,~~731~~284.6790 0.00 0.00 II-A-1 72,786,400.00 3.~~75085~~76274% 5854,~~017~~164,~~431~~531.9151 ~~181~~169,~~345~~839.5342 0.00 0.00 II-X-A-1 0.00 1.69800% 5854,~~017~~164,~~431~~531.9151 8276,~~094~~642.6781 0.00 0.00 II-A-2 24,262,100.00 3.~~73285~~74474% 1918,~~339~~054,~~117~~819.4003 6056,~~158~~342.3424 0.00 0.00 II-X-A-2 0.00 1.71600% 1918,~~339~~054,~~117~~819.4003 2725,~~654~~818.9439 0.00 0.00 II-A-3 82,546,700.00 4.~~25985~~27175% 6561,~~797~~427,~~285~~730.5708 ~~233~~218,~~572~~669.1065 0.00 0.00 II-X-A-3 0.00 1.18900% 6561,~~797~~427,~~285~~730.5708 6560,~~194~~864.1464 0.00 0.00 III-A-1 13,851,300.00 4.~~57373~~56619% 1110,~~235~~728,~~380~~175.3764 4240,~~823~~822.0144 0.00 0.00 III-X-A-1 0.00 1.14200% 1110,~~235~~728,~~380~~175.3764 10,~~692~~209.3465 0.00 0.00 IV-A-1 87,049,000.00 3.~~59675~~59762% 7770,~~156~~826,~~397~~330.9506 ~~231~~212,~~260~~338.1450 0.00 0.00 IV-X-A-1 0.00 1.70100% 7770,~~156~~826,~~397~~330.9506 ~~109~~100,~~369~~396.1932 0.00 0.00 V-A-1 150,700,000.00 5.~~46559~~45777% ~~135~~125,~~119~~603,~~435~~114.7274 ~~615~~571,~~423~~260.1568 0.00 0.00 R 100.00 0.00000% 0.00 0.00 0.00 0.00 M 17,559,900.00 5.~~41509~~41873% 17,~~538~~531,~~620~~592.4975 79,~~144~~165.3787 0.00 0.00 B-1 14,787,400.00 5.~~41509~~41873% 14,~~769~~763,~~480~~562.2713 66,~~648~~666.4151 0.00 0.00 B-2 10,782,300.00 5.~~41509~~41873% 10,~~769~~764,~~233~~918.7551 48,~~596~~610.9919 0.00 0.00 B-3 7,393,700.00 5.~~41509~~41873% 7,~~384~~381,~~740~~781.1407 33,~~324~~333.2126 0.00 0.00 B-4 6,469,600.00 5.~~41509~~41873% 6,~~461~~459,~~759~~170.9875 29,~~159~~167.1911 0.00 0.00 B-5 2,772,400.00 5.~~41509~~41873% 2,~~769~~767,~~040~~930.3478 12,~~495~~498.5190 0.00 0.00 B-6 1,848,793.00 5.~~41509~~41873% 1,~~846~~845,~~552~~812.6069 8,~~332~~334.7197 0.00 0.00 Totals 616,139,193.00 2,~~339~~167,~~415~~326.5029 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 ~~125~~292.5820 0.00 8371,~~321~~680.3105 0.00 3128,~~657~~136,~~844~~935.1184 I-X-A-1 ~~106~~248.9306 0.00 7060,~~949~~850.4270 0.00 3128,~~657~~136,~~844~~935.1184 I-A-2 ~~324~~755.8910 0.00 ~~215~~185,~~566~~233.7674 0.00 5045,~~738~~095,~~227~~245.3334 I-X-A-2 47110.7577 0.00 3127,~~683~~174.9213 0.00 5045,~~738~~095,~~227~~245.3334 II-A-1 ~~171~~403.0911 0.00 ~~181~~169,~~174~~436.4431 0.00 5652,~~450~~301,~~777~~677.3281 II-X-A-1 77181.4591 0.00 8276,~~017~~460.2190 0.00 5652,~~450~~301,~~777~~677.3281 II-A-2 56133.7673 0.00 6056,~~101~~208.5851 0.00 1817,~~816~~433,~~899~~868.9265 II-X-A-2 2661.0928 0.00 2725,~~628~~757.8511 0.00 1817,~~816~~433,~~899~~868.9265 II-A-3 ~~220~~519.3701 0.00 ~~233~~218,~~351~~150.7364 0.00 6459,~~020~~315,~~550~~076.2782 II-X-A-3 61144.5146 0.00 6560,~~132~~720.6318 0.00 6459,~~020~~315,~~550~~076.2782 III-A-1 ~~494~~1,166.5591 0.00 4239,~~328~~655.4653 0.00 1110,~~016~~723,~~374~~792.6041 III-X-A-1 ~~123~~291.4884 0.00 109,~~568~~917.8580 0.00 1110,~~016~~723,~~374~~792.6041 IV-A-1 ~~420~~987.2248 0.00 ~~230~~211,~~839~~351.9201 0.00 7467,~~205~~450,~~102~~797.0427 IV-X-A-1 ~~198~~466.7389 0.00 ~~109~~99,~~170~~929.4643 0.00 7467,~~205~~450,~~102~~797.0427 V-A-1 ~~621~~1,463.9379 0.00 ~~614~~569,~~801~~796.2389 0.00 ~~130~~119,~~365~~618,~~874~~158.4624 R 0.00 0.00 0.00 0.00 0.00 M ~~117~~301.8280 0.00 7978,~~026~~864.5507 0.00 17,~~535~~528,~~079~~097.9059 B-1 99254.2215 0.00 66,~~549~~412.2037 0.00 14,~~766~~760,~~498~~618.7081 B-2 72185.3431 0.00 48,~~524~~424.6588 0.00 10,~~767~~762,~~059~~772.7238 B-3 49127.6107 0.00 33,~~274~~206.6018 0.00 7,~~383~~380,~~249~~309.3541 B-4 43111.4119 0.00 29,~~115~~055.7892 0.00 6,~~460~~457,~~455~~883.5203 B-5 1847.6065 0.00 12,~~476~~451.9125 0.00 2,~~768~~767,~~481~~378.3496 B-6 1231.4077 0.00 8,~~320~~303.3120 0.00 1,~~846~~845,~~179~~444.8370 Totals 38,~~490~~285.7348 0.00 2,~~335~~159,~~924~~040.7780 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.~~89131~~90015% ~~730~~628.~~89381282~~46884780 1.~~76103649~~51887935 0.00000000 0.00000000 I-X-A-1 0.00 2.46200% ~~730~~628.~~89381282~~46884780 1.~~49955049~~28940848 0.00000000 0.00000000 I-A-2 75,944,400.00 4.~~66731~~67615% ~~730~~628.~~89381284~~46884774 2.~~84275931~~44901323 0.00000000 0.00000000 I-X-A-2 0.00 0.68600% ~~730~~628.~~89381284~~46884774 0.~~41782765~~35927468 0.00000000 0.00000000 II-A-1 72,786,400.00 3.~~75085~~76274% ~~797~~744.~~09165325~~15730837 2.~~49147547~~33339497 0.00000000 0.00000000 II-X-A-1 0.00 1.69800% ~~797~~744.~~09165325~~15730837 1.~~12788474~~05298256 0.00000000 0.00000000 II-A-2 24,262,100.00 3.~~73285~~74474% ~~797~~744.~~09165324~~15730831 2.~~47951909~~32223262 0.00000000 0.00000000 II-X-A-2 0.00 1.71600% ~~797~~744.~~09165324~~15730831 1.~~13984115~~06414490 0.00000000 0.00000000 II-A-3 82,546,700.00 4.~~25985~~27175% ~~797~~744.~~09165321~~15730829 2.~~82957526~~64904169 0.00000000 0.00000000 II-X-A-3 0.00 1.18900% ~~797~~744.~~09165321~~15730829 0.~~78978493~~73733584 0.00000000 0.00000000 III-A-1 13,851,300.00 4.~~57373~~56619% ~~811~~774.~~14266314~~52482005 32.~~09162389~~94719196 0.00000000 0.00000000 III-X-A-1 0.00 1.14200% ~~811~~774.~~14266314~~52482005 0.~~77193765~~73708966 0.00000000 0.00000000 IV-A-1 87,049,000.00 3.~~59675~~59762% ~~886~~813.~~35593689~~63749222 2.~~65666625~~43929856 0.00000000 0.00000000 IV-X-A-1 0.00 1.70100% ~~886~~813.~~35593689~~63749222 1.~~25640949~~15333111 0.00000000 0.00000000 V-A-1 150,700,000.00 5.~~46559~~45777% ~~896~~833.~~61204857~~46459681 43.~~08376344~~79071453 0.00000000 0.00000000 R 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 M 17,559,900.00 5.~~41509~~41873% 998.~~78817590~~38796064 4.~~50710824~~50833262 0.00000000 0.00000000 B-1 14,787,400.00 5.~~41509~~41873% 998.~~78817574~~38796070 4.~~50710808~~50833209 0.00000000 0.00000000 B-2 10,782,300.00 5.~~41509~~41873% 998.~~78817599~~38796082 4.~~50710795~~50833217 0.00000000 0.00000000 B-3 7,393,700.00 5.~~41509~~41873% 998.~~78817642~~38796137 4.~~50710875~~50833277 0.00000000 0.00000000 B-4 6,469,600.00 5.~~41509~~41873% 998.~~78817547~~38796062 4.~~50710863~~50833282 0.00000000 0.00000000 B-5 2,772,400.00 5.~~41509~~41873% 998.~~78817631~~38795989 4.~~50710936~~50833213 0.00000000 0.00000000 B-6 1,848,793.00 5.~~41509~~41873% 998.~~78818234~~38796988 4.~~50710815~~50833057 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.~~00265020~~00616650 0.00000000 1.~~75838629~~51271286 0.00000000 ~~668~~593.~~09702016~~79289777 I-X-A-1 0.~~00225662~~00523498 0.00000000 1.~~49729388~~28417372 0.00000000 ~~668~~593.~~09702016~~79289777 I-A-2 0.~~00427800~~00994280 0.00000000 2.~~83848131~~43907043 0.00000000 ~~668~~593.~~09702006~~79289770 I-X-A-2 0.~~00062875~~00145857 0.00000000 0.~~41719890~~35781611 0.00000000 ~~668~~593.~~09702006~~79289770 II-A-1 0.~~00235058~~00553826 0.00000000 2.~~48912489~~32785671 0.00000000 ~~775~~718.~~56765165~~56387746 II-X-A-1 0.~~00106407~~00249923 0.00000000 1.~~12682053~~05048333 0.00000000 ~~775~~718.~~56765165~~56387746 II-A-2 0.~~00233945~~00551189 0.00000000 2.~~47717963~~31672073 0.00000000 ~~775~~718.~~56765160~~56387741 II-X-A-2 0.~~00107534~~00252575 0.00000000 1.~~13876581~~06161915 0.00000000 ~~775~~718.~~56765160~~56387741 II-A-3 0.~~00266964~~00628747 0.00000000 2.~~82690562~~64275422 0.00000000 ~~775~~718.~~56765164~~56387742 II-X-A-3 0.~~00074515~~00175004 0.00000000 0.~~78903978~~73558580 0.00000000 ~~775~~718.~~56765164~~56387742 III-A-1 0.~~03570423~~08424552 0.00000000 32.~~05591966~~86294644 0.00000000 ~~795~~774.~~33145625~~20837106 III-X-A-1 0.~~00891469~~02106950 0.00000000 0.~~76302224~~71601943 0.00000000 ~~795~~774.~~33145625~~20837106 IV-A-1 0.~~00482740~~01134396 0.00000000 2.~~65183885~~42795449 0.00000000 ~~852~~774.~~45209066~~86010488 IV-X-A-1 0.~~00228297~~00536353 0.00000000 1.~~25412653~~14796758 0.00000000 ~~852~~774.~~45209066~~86010488 V-A-1 0.~~00412694~~00971327 0.00000000 43.~~07963656~~78100126 0.00000000 ~~865~~793.~~06884180~~75022057 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.~~00670961~~01718689 0.00000000 4.~~50039864~~49114574 0.00000000 998.~~58654662~~18891850 B-1 0.~~00670977~~01718693 0.00000000 4.~~50039899~~49114584 0.00000000 998.~~58654665~~18891827 B-2 0.~~00670914~~01718650 0.00000000 4.~~50039880~~49114567 0.00000000 998.~~58654647~~18891888 B-3 0.~~00670977~~01718625 0.00000000 4.~~50039899~~49114516 0.00000000 998.~~58654665~~18891894 B-4 0.~~00670984~~01718653 0.00000000 4.~~50039879~~49114628 0.00000000 998.~~58654631~~18891894 B-5 0.~~00670899~~01718727 0.00000000 4.~~50040038~~49114486 0.00000000 998.~~58654595~~18891935 B-6 0.~~00670708~~01718418 0.00000000 4.~~50040107~~49114639 0.00000000 998.~~58655350~~18892651 (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 2120,~~927~~521,~~835~~438.9270 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~114~~82,~~328~~152.2110 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2220,~~042~~603,~~164~~590.1380 Withdrawals Reimbursement for Servicer Advances 3982,~~059~~390.4321 Payment of Service Fee ~~120~~111,~~589~~998.3554 Payment of Interest and Principal 2120,~~882~~409,~~515~~202.3505 Total Withdrawals (Pool Distribution Amount) 2220,~~042~~603,~~164~~590.1380 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 38,~~490~~285.7348

SERVICING FEES Gross Servicing Fee 7569,~~027~~047.7089 Additional Servicing Fees 4542,~~561~~950.65 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~120~~111,~~589~~998.3554

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 6235 0 0 0 6235 1610,~~489~~014,~~056~~272.0562 0.00 0.00 0.00 1610,~~489~~014,~~056~~272.0562 60 Days 6 0 0 0 6 21,~~230~~492,~~834~~684.6659 0.00 0.00 0.00 21,~~230~~492,~~834~~684.6659 90 Days 32 10 0 0 42 1595,~~305,466~~599.7799 ~~140,799~~0.9900 0.00 0.00 1595,~~446,266~~599.7699 120 Days 0 0 30 0 30 0.00 0.00 ~~1,209,199~~0.8000 0.00 ~~1,209,199~~0.8000 150 Days 0 01 01 0 02 0.00 0140,799.0099 0623,866.0078 0.00 0764,666.0077 180+ Days 21 01 03 0 25 21,~~272~~820,000.00 0279,999.0080 01,381,200.00 0.00 23,~~272~~481,~~000~~199.0080 Totals 7344 12 34 0 7750 2213,~~297~~922,~~357~~557.4820 ~~140~~420,799.9979 12,~~209~~005,~~199~~066.8078 0.00 2316,~~647~~348,~~357~~423.2777 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 32.~~653506~~215190% 0.000000% 0.000000% 0.000000% 32.~~653506~~215190% 32.~~305402~~169331% 0.000000% 0.000000% 0.000000% 32.~~305402~~169331% 60 Days 0.~~353565~~379747% 0.000000% 0.000000% 0.000000% 0.~~353565~~379747% 0.~~447194~~323351% 0.000000% 0.000000% 0.000000% 0.~~447194~~323351% 90 Days 0.~~176783~~126582% 0.~~058928~~000000% 0.000000% 0.000000% 0.~~235710~~126582% 0.~~261694~~129021% 0.~~028225~~000000% 0.000000% 0.000000% 0.~~289919~~129021% 120 Days 0.000000% 0.000000% 0.~~176783~~000000% 0.000000% 0.~~176783~~000000% 0.000000% 0.000000% 0.~~242397~~000000% 0.000000% 0.~~242397~~000000% 150 Days 0.000000% 0.~~000000~~063291% 0.~~000000~~063291% 0.000000% 0.~~000000~~126582% 0.000000% 0.~~000000~~030501% 0.~~000000~~135144% 0.000000% 0.~~000000~~165645% 180+ Days 0.~~117855~~063291% 0.~~000000~~063291% 0.~~000000~~189873% 0.000000% 0.~~117855~~316456% 0.~~455446~~394256% 0.~~000000~~060655% 0.~~000000~~299201% 0.000000% 0.~~455446~~754111% Totals 42.~~301709~~784810% 0.~~058928~~126582% 0.~~176783~~253165% 0.000000% 43.~~537419~~164557% 43.~~469736~~015959% 0.~~028225~~091155% 0.~~242397~~434345% 0.000000% 43.~~740357~~541460%

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 54 0 0 0 54 2,~~667~~229,~~248~~597.3752 0.00 0.00 0.00 2,~~667~~229,~~248~~597.3752 60 Days 10 0 0 0 10 ~~792,000~~0.00 0.00 0.00 0.00 ~~792,000~~0.00 90 Days 10 0 0 0 10 ~~623,866~~0.7800 0.00 0.00 0.00 ~~623,866~~0.7800 120 Days 0 0 10 0 10 0.00 0.00 ~~670,000~~0.00 0.00 ~~670,000~~0.00 150 Days 0 0 01 0 01 0.00 0.00 0623,866.0078 0.00 0623,866.0078 180 Days 21 0 02 0 23 21,~~272~~820,000.00 0.00 01,122,000.00 0.00 2,~~272~~942,000.00 Totals 95 0 13 0 108 64,~~355~~049,~~115~~597.1552 0.00 ~~670~~1,~~000~~745,866.0078 0.00 75,~~025~~795,~~115~~464.1530 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~617801~~312139% 0.000000% 0.000000% 0.000000% 2.~~617801~~312139% 2.~~775587~~564842% 0.000000% 0.000000% 0.000000% 2.~~775587~~564842% 60 Days 0.~~523560~~000000% 0.000000% 0.000000% 0.000000% 0.~~523560~~000000% 0.~~824170~~000000% 0.000000% 0.000000% 0.000000% 0.~~824170~~000000% 90 Days 0.~~523560~~000000% 0.000000% 0.000000% 0.000000% 0.~~523560~~000000% 0.~~649207~~000000% 0.000000% 0.000000% 0.000000% 0.~~649207~~000000% 120 Days 0.000000% 0.000000% 0.~~523560~~000000% 0.000000% 0.~~523560~~000000% 0.000000% 0.000000% 0.~~697214~~000000% 0.000000% 0.~~697214~~000000% 150 Days 0.000000% 0.000000% 0.~~000000~~578035% 0.000000% 0.~~000000~~578035% 0.000000% 0.000000% 0.~~000000~~717672% 0.000000% 0.~~000000~~717672% 180 Days 10.~~047120~~578035% 0.000000% 01.~~000000~~156069% 0.000000% 1.~~047120~~734104% 2.~~364285~~093657% 0.000000% 01.~~000000~~290705% 0.000000% 23.~~364285~~384363% Totals 42.~~712042~~890173% 0.000000% 01.~~523560~~734104% 0.000000% 54.~~235602~~624277% 64.~~613249~~658500% 0.000000% 02.~~697214~~008377% 0.000000% 76.~~310463~~666877% 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 47 0 0 0 47 23,~~880~~230,~~526~~336.8710 0.00 0.00 0.00 23,~~880~~230,~~526~~336.8710 60 Days 10 0 0 0 10 ~~392,000~~0.00 0.00 0.00 0.00 ~~392,000~~0.00 90 Days 1 0 0 0 1 391,599.99 0.00 0.00 0.00 391,599.99 120 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 68 0 0 0 68 3,~~664~~621,~~126~~936.8609 0.00 0.00 0.00 3,~~664~~621,~~126~~936.8609 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~277955~~405498% 0.000000% 0.000000% 0.000000% 12.~~277955~~405498% 12.~~808945~~168135% 0.000000% 0.000000% 0.000000% 12.~~808945~~168135% 60 Days 0.~~319489~~000000% 0.000000% 0.000000% 0.000000% 0.~~319489~~000000% 0.~~246172~~000000% 0.000000% 0.000000% 0.000000% 0.~~246172~~000000% 90 Days 0.~~319489~~343643% 0.000000% 0.000000% 0.000000% 0.~~319489~~343643% 0.~~245921~~262834% 0.000000% 0.000000% 0.000000% 0.~~245921~~262834% 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 12.~~916933~~749141% 0.000000% 0.000000% 0.000000% 12.~~916933~~749141% 2.~~301038~~430968% 0.000000% 0.000000% 0.000000% 2.~~301038~~430968% 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 1 0 0 0 1 361,600.00 0.00 0.00 0.00 361,600.00 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 1 0 0 0 1 361,600.00 0.00 0.00 0.00 361,600.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.~~125000~~225806% 0.000000% 0.000000% 0.000000% 3.~~125000~~225806% 2.~~880148~~949043% 0.000000% 0.000000% 0.000000% 2.~~880148~~949043% 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 3.~~125000~~225806% 0.000000% 0.000000% 0.000000% 3.~~125000~~225806% 2.~~880148~~949043% 0.000000% 0.000000% 0.000000% 2.~~880148~~949043% 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 239 0 0 0 239 41,~~210~~943,~~942~~490.0498 0.00 0.00 0.00 41,~~210~~943,~~942~~490.0498 60 Days 41 0 0 0 4 1 237,~~046,834~~550.6619 0.00 0.00 0.00 1237,~~046,834~~550.6619 90 Days 0 1 0 0 0 1 0204,000.00 ~~140,799~~0.9900 0.00 0.00 ~~140~~204,~~799~~000.9900 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 01 0 0 01 0.00 0140,799.0099 0.00 0.00 0140,799.0099 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2711 1 0 0 2812 52,~~257~~385,~~776~~041.7017 140,799.99 0.00 0.00 52,~~398~~525,~~576~~841.6916 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 52.~~582524~~349869% 0.000000% 0.000000% 0.000000% 52.~~582524~~349869% 52.~~020379~~520201% 0.000000% 0.000000% 0.000000% 52.~~020379~~520201% 60 Days 0.~~970874~~261097% 0.000000% 0.000000% 0.000000% 0.~~970874~~261097% 10.~~248060~~308041% 0.000000% 0.000000% 0.000000% 10.~~248060~~308041% 90 Days 0.~~000000~~261097% 0.~~242718~~000000% 0.000000% 0.000000% 0.~~242718~~261097% 0.~~000000~~264535% 0.~~167865~~000000% 0.000000% 0.000000% 0.~~167865~~264535% 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~~261097% 0.000000% 0.000000% 0.~~000000~~261097% 0.000000% 0.~~000000~~182581% 0.000000% 0.000000% 0.~~000000~~182581% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 62.~~553398~~872063% 0.~~242718~~261097% 0.000000% 0.000000% 63.~~796117~~133159% 63.~~268439~~092776% 0.~~167865~~182581% 0.000000% 0.000000% 63.~~436304~~275357% 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 2914 0 0 0 2914 62,~~368~~249,~~738~~248.7702 0.00 0.00 0.00 62,~~368~~249,~~738~~248.7702 60 Days 05 0 0 0 05 01,255,134.0040 0.00 0.00 0.00 01,255,134.0040 90 Days 10 0 0 0 10 ~~290,000~~0.00 0.00 0.00 0.00 ~~290,000~~0.00 120 Days 0 0 20 0 20 0.00 0.00 ~~539,199~~0.8000 0.00 ~~539,199~~0.8000 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 01 01 0 02 0.00 0279,999.0080 0259,200.00 0.00 0539,199.0080 Totals 3019 01 21 0 3221 63,~~658~~504,~~738~~382.7742 0279,999.0080 ~~539~~259,~~199~~200.8000 0.00 74,~~197~~043,~~938~~582.5722 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 31.~~871829~~994302% 0.000000% 0.000000% 0.000000% 31.~~871829~~994302% 41.~~329965~~649847% 0.000000% 0.000000% 0.000000% 41.~~329965~~649847% 60 Days 0.~~000000~~712251% 0.000000% 0.000000% 0.000000% 0.~~000000~~712251% 0.~~000000~~920654% 0.000000% 0.000000% 0.000000% 0.~~000000~~920654% 90 Days 0.~~133511~~000000% 0.000000% 0.000000% 0.000000% 0.~~133511~~000000% 0.~~197165~~000000% 0.000000% 0.000000% 0.000000% 0.~~197165~~000000% 120 Days 0.000000% 0.000000% 0.~~267023~~000000% 0.000000% 0.~~267023~~000000% 0.000000% 0.000000% 0.~~366590~~000000% 0.000000% 0.~~366590~~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~~142450% 0.~~000000~~142450% 0.000000% 0.~~000000~~284900% 0.000000% 0.~~000000~~205383% 0.~~000000~~190126% 0.000000% 0.~~000000~~395509% Totals 42.~~005340~~706553% 0.~~000000~~142450% 0.~~267023~~142450% 0.000000% 42.~~272363~~991453% 42.~~527129~~570502% 0.~~000000~~205383% 0.~~366590~~190126% 0.000000% 42.~~893720~~966010%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~114~~82,~~328~~152.2110

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 568,754,093.00 92.30935144% ~~467~~433,~~140~~441,~~810~~121.3042 93.~~65318180~~90418694% 8786.~~664962~~675600% 0.000000% Class IA2 492,809,693.00 79.98350025% ~~416~~388,~~402~~345,~~582~~876.9708 8384.~~48109595~~13438860% 109.~~172086~~769798% 8273.~~464973~~322616% Class 2A1 420,023,293.00 68.17019559% ~~359~~336,~~951~~044,~~805~~198.6527 72.~~16374838~~80333050% 11.~~317348~~331058% 9185.~~749595~~039915% Class 2A2 395,761,193.00 64.23243278% ~~341~~318,~~134~~610,~~905~~329.7362 6869.~~39130438~~02631632% 3.~~772444~~777014% 3028.~~583156~~346599% Class 2A3 313,214,493.00 50.83502179% ~~277~~259,~~114~~295,~~355~~252.4680 5556.~~55635590~~17581879% 12.~~834948~~850498% ~~104~~96.~~052767~~443351% Class R-I 61,614,093.00 10.00002819% 61,~~527~~502,~~004~~504.3688 1213.~~33503817~~32439962% 0.000000% 0.000000% Class M 44,054,193.00 7.15003907% 43,~~991~~974,~~924~~407.4629 89.~~81957561~~52697093% 3.~~515463~~797429% 28.499811% Class B-1 29,266,793.00 4.75002943% 29,~~225~~213,~~425~~788.7648 56.~~85916292~~32911120% 23.~~960413~~197860% 24.000029% Class B-2 18,484,493.00 3.00005148% 18,~~458~~451,~~366~~016.0410 3.~~70056452~~99737722% 2.~~158598~~331734% 17.499730% Class B-3 11,090,793.00 1.80004667% 11,~~075~~070,~~116~~706.69 2.~~22035817~~39844735% 1.~~480206~~598930% 12.000014% Class B-4 4,621,193.00 0.75002419% 4,~~614~~612,~~661~~823.1766 0.~~92515510~~99935939% 1.~~295203~~399088% 10.500195% Class B-5 1,848,793.00 0.30006093% 1,~~846~~845,~~179~~444.8370 0.~~37012526~~39981205% 0.~~555030~~599547% 4.499620% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~370125~~399812% 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.~~695057~~700352% Weighted Average Net Coupon 5.~~521364~~527671% Weighted Average Pass-Through Rate 5.~~415886~~420256% Weighted Average Maturity(Stepdown Calculation ) ~~350~~348 Beginning Scheduled Collateral Loan Count 1,~~753~~639 Number Of Loans Paid In Full 5659 Ending Scheduled Collateral Loan Count 1,~~697~~580 Beginning Scheduled Collateral Balance ~~518~~479,~~345~~828,~~244~~218.6215 Ending Scheduled Collateral Balance ~~498~~461,~~798~~578,~~654~~056.0589 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~498~~461,~~851~~629,~~826~~517.0593 Monthly P &I Constant 2,~~566~~377,~~652~~335.7618 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2120,~~595~~127,~~881~~446.4894 Ending Scheduled Balance for Premium Loans ~~498~~461,~~798~~578,~~654~~056.0589 Scheduled Principal ~~106~~98,~~647~~010.9133 Unscheduled Principal 1918,~~439~~152,~~942~~150.6693

Miscellaneous Reporting Senior Percentage Group 1 8684.~~812892~~989794% Senior Percentage Group 2 87.~~776827~~023778% Senior Percentage Group 3 87.~~964019~~471043% Senior Percentage Group 4 88.~~874415~~004362% Senior Percentage Group 5 88.~~990583~~260318% 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 1315.~~187108~~010206% Subordinate Percentage Group 2 12.~~223173~~976222% Subordinate Percentage Group 3 12.~~035981~~528957% Subordinate Percentage Group 4 11.~~125585~~995638% Subordinate Percentage Group 5 11.~~009417~~739682% 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.~~620488~~631685 5.~~730740~~743733 5.~~990675~~984157 Weighted Average Net Rate 5.~~438126~~450610 5.~~561405~~577278 5.~~786457~~781814 Weighted Average Maturity ~~350~~348 ~~350~~348 ~~350~~348 Beginning Loan Count ~~206~~183 ~~320~~301 3331 Loans Paid In Full 1510 710 10 Ending Loan Count ~~191~~173 ~~313~~291 3231 Beginning Scheduled Balance ~~103~~91,~~833~~197,~~390~~712.2789 ~~163~~153,~~088~~575,~~413~~359.5490 12,~~772~~264,~~700~~831.11 Ending scheduled Balance 9686,~~086~~919,~~763~~315.7928 ~~159~~148,~~219~~975,~~669~~894.6967 12,~~553~~260,~~365~~102.9242 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~500~~440,~~959~~189.7616 ~~804~~758,~~507~~259.9098 6663,~~492~~919.8646 Scheduled Principal 1412,~~631~~191.1784 2523,~~660~~180.1405 2,~~728~~757.6123 Unscheduled Principal 74,~~731~~266,~~995~~205.3177 34,~~843~~576,~~083~~285.7118 ~~216~~1,~~605~~971.5846 Scheduled Interest ~~486~~427,~~328~~997.5932 ~~778~~735,~~847~~079.7693 6361,~~764~~162.2523 Servicing Fees 1513,~~779~~761.3935 2321,~~013~~302.8791 2,~~173~~068.6809 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 76,~~338~~722.5564 1514,~~297~~913.0782 752.8044 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 ~~463~~407,~~210~~513.6533 ~~740~~698,~~536~~863.8220 6058,~~837~~341.7770 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.~~353314~~362152 5.~~448849~~460745 5.~~715732~~708194

Group Level Collateral Statement Group Group 4 Group 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~576854~~578162 5.~~750442~~742184 5.~~695057~~700352 Weighted Average Net Rate 5.~~400503~~400760 5.~~582082~~573389 5.~~521364~~527671 Weighted Average Maturity ~~350~~348 ~~349~~347 ~~350~~348 Beginning Loan Count ~~425~~397 ~~769~~727 1,~~753~~639 Loans Paid In Full 1314 2025 5659 Ending Loan Count ~~412~~383 ~~749~~702 1,~~697~~580 Beginning Scheduled Balance 8680,~~815~~480,~~083~~476.7273 ~~151~~142,~~835~~309,~~656~~837.9852 ~~518~~479,~~345~~828,~~244~~218.6215 Ending scheduled Balance 8377,~~861~~102,~~507~~573.1844 ~~147~~136,~~077~~320,~~347~~171.4708 ~~498~~461,~~798~~578,~~654~~056.0589 Record Date 0810/31/2004 0810/31/2004 0810/31/2004 Principal And Interest Constant ~~423~~393,~~961~~872.5332 ~~770~~721,~~730~~094.7126 2,~~566~~377,~~652~~335.7618 Scheduled Principal 2019,~~499~~761.0137 4340,~~128~~119.9884 ~~106~~98,~~647~~010.9133 Unscheduled Principal 23,~~933~~358,~~077~~141.5392 45,~~715~~949,~~180~~546.5360 1918,~~439~~152,~~942~~150.6693 Scheduled Interest ~~403~~374,~~462~~110.5295 ~~727~~680,~~601~~974.7342 2,~~460~~279,~~004~~324.85 Servicing Fees 1211,~~758~~897.2385 2120,~~302~~017.5369 7569,~~027~~047.7089 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 76,~~433~~850.8923 1413,~~739~~711.3452 4542,~~561~~950.65 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 ~~383~~355,~~270~~362.4087 ~~691~~647,~~559~~245.8621 2,~~339~~167,~~415~~326.5031 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.~~297749~~298620 5.~~465593~~457769 5.~~415886~~420256

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