8-K 1 bsl03004_dec.txt DEC. 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): December 27, 2004 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-24 Pooling and Servicing Agreement) (Commission 54-2126371 (State or other File Number) 54-2126372 jurisdiction 54-2126414 of Incorporation) 54-2126415 IRS EIN 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 December 27, 2004 a distribution was made to holders of BEAR STEARNS ALT-A 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 December 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 ALT-A 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: 1/3/05 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 December 27, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 811/3130/~~2004~~04 Distribution Date: 912/27/~~2004~~04 ~~BSL~~Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates 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 07386HBW0 SEN 12.~~98500~~55063% ~~159~~127,~~521~~065,~~088~~534.6408 ~~290~~279,~~261~~083.9168 134,~~209~~941,~~206~~124.8954 I-A-2 07386HBX8 SEN 12.~~75500~~32063% 143,~~630~~515,~~509~~593.8186 237,~~536~~025.8328 41,~~523~~692,~~700~~165.9994 I-A-3 07386HBY6 SEN 2.~~18500~~75063% 40,000,000.00 8094,~~116~~743.6792 0.00 II-A-1 07386HBZ3 SEN 12.~~93500~~50063% 1916,~~974~~743,~~303~~986.3242 3536,~~429~~055.4217 1478,~~285,859~~974.8448 II-A-2 07386HCA7 SEN 12.~~91500~~48063% 1915,~~711~~923,~~991~~455.8030 34,~~602~~014.7606 1561,~~508,064~~744.7135 II-A-3 07386HCB5 SEN 2.~~21500~~78063% 3,714,000.00 78,~~540~~892.9792 0.00 M-1 07386HCC3 SUB 2.~~41500~~98063% 10,540,000.00 2327,~~332~~052.9253 0.00 M-2 07386HCD1 SUB 34.~~46500~~03063% 9,365,300.00 2932,~~746~~505.5327 0.00 B-IO 07386HCX7 SUB 0.00000% 0.00 ~~695~~479,~~927~~729.8248 0.00 OC BSL03004X SUB 0.00000% 2,341,097.00 0.00 0.00 XP 07386HDC2 SEN 0.00000% 100.00 7430,~~930~~523.0532 0.00 R-I 07386HCY5 RES 0.00000% 0.00 0.00 0.00 R-II 07386HCZ2 RES 0.00000% 0.00 0.00 0.00 R-III 07386HDA6 RES 0.00000% 0.00 0.00 0.00 R-IV 07386HDB4 RES 0.00000% 0.00 0.00 0.00 Totals ~~279~~229,~~798~~209,~~390~~066.5766 1,~~295~~029,~~425~~625.8863 207,~~526~~674,~~832~~009.4331

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~146~~122,~~311~~124,~~881~~409.7554 135,~~499~~220,~~468~~208.8022 0.00 I-A-2 0.00 101,~~106~~823,~~808~~427.8292 41,~~547~~699,~~237~~191.8222 0.00 I-A-3 0.00 40,000,000.00 8094,~~116~~743.6792 0.00 II-A-1 0.00 1816,~~688~~265,~~443~~011.4994 1515,~~321,289~~029.2665 0.00 II-A-2 0.00 1815,~~203~~361,~~927~~710.0994 1595,~~542,667~~758.4741 0.00 II-A-3 0.00 3,714,000.00 78,~~540~~892.9792 0.00 M-1 0.00 10,540,000.00 2327,~~332~~052.9253 0.00 M-2 0.00 9,365,300.00 2932,~~746~~505.5327 0.00 B-IO 0.00 0.00 ~~695~~479,~~927~~729.8248 0.00 OC 0.00 2,341,097.00 0.00 0.00 XP 0.00 100.00 7430,~~930~~523.0532 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 R-IV 0.00 0.00 0.00 0.00 Totals 0.00 ~~259~~221,~~271~~535,~~558~~057.1534 218,~~822~~703,~~258~~634.3194 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-1 233,600,000.00 ~~159~~127,~~521~~065,~~088~~534.6408 0.00 134,~~209~~941,~~206~~124.8954 0.00 0.00 I-A-2 40,000,000.00 143,~~630~~515,~~509~~593.8186 0.00 41,~~523~~692,~~700~~165.9994 0.00 0.00 I-A-3 40,000,000.00 40,000,000.00 0.00 0.00 0.00 0.00 II-A-1 62,000,000.00 1916,~~974~~743,~~303~~986.3242 0.00 1478,~~285,859~~974.8448 0.00 0.00 II-A-2 69,000,000.00 1915,~~711~~923,~~991~~455.8030 0.00 1561,~~508,064~~744.7135 0.00 0.00 II-A-3 3,714,000.00 3,714,000.00 0.00 0.00 0.00 0.00 M-1 10,540,000.00 10,540,000.00 0.00 0.00 0.00 0.00 M-2 9,365,300.00 9,365,300.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 17.66 2,341,097.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 0.00 Totals 468,219,417.66 ~~279~~229,~~798~~209,~~390~~066.5766 0.00 207,~~526~~674,~~832~~009.4331 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-1 134,~~209~~941,~~206~~124.8954 ~~146~~122,~~311~~124,~~881~~409.7554 0.~~62633511~~52279285 134,~~209~~941,~~206~~124.8954 I-A-2 41,~~523~~692,~~700~~165.9994 101,~~106~~823,~~808~~427.8292 0.~~25267022~~04558570 41,~~523~~692,~~700~~165.9994 I-A-3 0.00 40,000,000.00 1.00000000 0.00 II-A-1 1478,~~285,859~~974.8448 1816,~~688~~265,~~443~~011.4994 0.~~30142651~~26233890 1478,~~285,859~~974.8448 II-A-2 1561,~~508,064~~744.7135 1815,~~203~~361,~~927~~710.0994 0.~~26382503~~22263349 1561,~~508,064~~744.7135 II-A-3 0.00 3,714,000.00 1.00000000 0.00 M-1 0.00 10,540,000.00 1.00000000 0.00 M-2 0.00 9,365,300.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 2,341,097.00 132,564.94903737 0.00 XP 0.00 100.00 1.00000000 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 R-IV 0.00 0.00 0.00000000 0.00 Totals 207,~~526~~674,~~832~~009.4331 ~~259~~221,~~271~~535,~~558~~057.1534 0.~~55373944~~47314368 207,~~526~~674,~~832~~009.4331

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 233,600,000.00 ~~682~~543.~~88137260~~94492329 0.00000000 5621.~~54626237~~15207423 0.00000000 I-A-2 40,000,000.00 ~~365~~87.~~76274525~~88984650 0.00000000 ~~113~~42.~~09252475~~30414850 0.00000000 I-A-3 40,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-1 62,000,000.00 ~~322~~270.~~16618258~~06429710 0.00000000 207.~~73967484~~72539484 0.00000000 II-A-2 69,000,000.00 ~~285~~230.~~68104058~~77471449 0.00000000 218.~~85601029~~14122246 0.00000000 II-A-3 3,714,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 10,540,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 9,365,300.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 17.66 132564949.03737300 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 5621.~~54626237~~15207423 ~~626~~522.~~33511023~~79284906 0.~~62633511~~52279285 5621.~~54626237~~15207423 I-A-2 0.00000000 ~~113~~42.~~09252475~~30414850 ~~252~~45.~~67022050~~58569800 0.~~25267022~~04558570 ~~113~~42.~~09252475~~30414850 I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-1 0.00000000 207.~~73967484~~72539484 ~~301~~262.~~42650790~~33890226 0.~~30142651~~26233890 207.~~73967484~~72539484 II-A-2 0.00000000 218.~~85601029~~14122246 ~~263~~222.~~82503029~~63349188 0.~~26382503~~22263349 218.~~85601029~~14122246 II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 ~~132~~32,564,949.03737300 132564.94903737 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 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 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A-1 233,600,000.00 12.~~98500~~55063% ~~159~~127,~~521~~065,~~088~~534.6408 ~~290~~279,~~261~~083.9167 0.00 0.00 I-A-2 40,000,000.00 12.~~75500~~32063% 143,~~630~~515,~~509~~593.8186 237,~~536~~025.8328 0.00 0.00 I-A-3 40,000,000.00 2.~~18500~~75063% 40,000,000.00 8094,~~116~~743.6792 0.00 0.00 II-A-1 62,000,000.00 12.~~93500~~50063% 1916,~~974~~743,~~303~~986.3242 3536,~~429~~055.4217 0.00 0.00 II-A-2 69,000,000.00 12.~~91500~~48063% 1915,~~711~~923,~~991~~455.8030 34,~~602~~014.7606 0.00 0.00 II-A-3 3,714,000.00 2.~~21500~~78063% 3,714,000.00 78,~~540~~892.9792 0.00 0.00 M-1 10,540,000.00 2.~~41500~~98063% 10,540,000.00 2327,~~332~~052.9253 0.00 0.00 M-2 9,365,300.00 34.~~46500~~03063% 9,365,300.00 2932,~~746~~505.5327 0.00 0.00 B-IO 0.00 0.00000% ~~279~~229,~~798~~208,~~290~~966.5866 0.00 0.00 0.00 OC 17.66 0.00000% 2,341,097.00 0.00 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 R-IV 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 468,219,417.66 ~~524~~519,~~568~~372.0182 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 (0.0001) 0.00 ~~290~~279,~~261~~083.9168 0.00 ~~146~~122,~~311~~124,~~881~~409.7554 I-A-2 0.00 0.00 237,~~536~~025.8328 0.00 101,~~106~~823,~~808~~427.8292 I-A-3 0.00 0.00 8094,~~116~~743.6792 0.00 40,000,000.00 II-A-1 0.00 0.00 3536,~~429~~055.4217 0.00 1816,~~688~~265,~~443~~011.4994 II-A-2 0.00 0.00 34,~~602~~014.7606 0.00 1815,~~203~~361,~~927~~710.0994 II-A-3 0.00 0.00 78,~~540~~892.9792 0.00 3,714,000.00 M-1 0.00 0.00 2327,~~332~~052.9253 0.00 10,540,000.00 M-2 0.00 0.00 2932,~~746~~505.5327 0.00 9,365,300.00 B-IO 0.00 0.00 ~~695~~479,~~927~~729.8248 0.00 ~~259~~221,~~271~~534,~~458~~957.1535 OC 0.00 0.00 0.00 0.00 2,341,097.00 XP 0.00 0.00 7430,~~930~~523.0532 0.00 100.00 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 R-IV 0.00 0.00 0.00 0.00 0.00 Totals (0.0001) 0.00 1,~~295~~029,~~425~~625.8863 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-1 233,600,000.00 12.~~98500~~55063% ~~682~~543.~~88137260~~94492329 1.~~24255955~~19470749 0.00000000 0.00000000 I-A-2 40,000,000.00 12.~~75500~~32063% ~~365~~87.~~76274525~~88984650 0.~~58842075~~17563200 0.00000000 0.00000000 I-A-3 40,000,000.00 2.~~18500~~75063% 1000.00000000 2.~~00291675~~36859800 0.00000000 0.00000000 II-A-1 62,000,000.00 12.~~93500~~50063% ~~322~~270.~~16618258~~06429710 0.~~57144226~~58153500 0.00000000 0.00000000 II-A-2 69,000,000.00 12.~~91500~~48063% ~~285~~230.~~68104058~~77471449 0.~~50148928~~49295739 0.00000000 0.00000000 II-A-3 3,714,000.00 2.~~21500~~78063% 1000.00000000 2.~~03041734~~39443188 0.00000000 0.00000000 M-1 10,540,000.00 2.~~41500~~98063% 1000.00000000 2.~~21374953~~56665370 0.00000000 0.00000000 M-2 9,365,300.00 34.~~46500~~03063% 1000.00000000 3.~~17624956~~47081994 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~597~~489.~~57955306~~53334050 0.00000000 0.00000000 0.00000000 OC 17.66 0.00000% 132564949.03737300 0.00000000 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A-1 (0.~~00000000~~00000004) 0.00000000 1.~~24255955~~19470753 0.00000000 ~~626~~522.~~33511023~~79284906 I-A-2 0.00000000 0.00000000 0.~~58842075~~17563200 0.00000000 ~~252~~45.~~67022050~~58569800 I-A-3 0.00000000 0.00000000 2.~~00291675~~36859800 0.00000000 1000.00000000 II-A-1 0.00000000 0.00000000 0.~~57144226~~58153500 0.00000000 ~~301~~262.~~42650790~~33890226 II-A-2 0.00000000 0.00000000 0.~~50148928~~49295739 0.00000000 ~~263~~222.~~82503029~~63349188 II-A-3 0.00000000 0.00000000 2.~~03041734~~39443188 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.~~21374953~~56665370 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.~~17624956~~47081994 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 1.~~48632872~~02458284 0.00000000 ~~553~~473.~~73934473~~14356541 OC 0.00000000 0.00000000 0.00000000 0.00000000 132564949.03737300 XP 0.00000000 0.00000000 ~~749300~~305233.~~50000000~~20000000 0.00000000 1000.00000000 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 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 218,~~914~~785,~~242~~088.6443 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 4534,~~416~~896.2473 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 218,~~959~~819,~~658~~985.8816 Withdrawals Reimbursement for Servicer Advances 4742,~~700~~622.4338 Payment of Service Fee 8973,~~700~~727.1484 Payment of Interest and Principal 218,~~822~~703,~~258~~634.3194 Total Withdrawals (Pool Distribution Amount) 218,~~959~~819,~~658~~985.8816 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8167,~~923~~489.9959 Additional Servicing Fee 32,~~692~~650.4847 Miscellaneous Fee 43,~~083~~587.6778 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8973,~~700~~727.1484

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 53 0 0 53 1,~~784~~453,~~583~~771.7331 0.00 0.00 1,~~784~~453,~~583~~771.7331 30 Days 54 0 0 0 54 21,~~105~~085,~~318~~612.9826 0.00 0.00 0.00 21,~~105~~085,~~318~~612.9826 60 Days 41 01 01 0 43 1480,~~458,875~~000.0600 065,509.0076 0472,943.0067 0.00 1,~~458~~018,~~875~~453.0643 90 Days 1 10 1 0 32 ~~581~~208,~~962~~000.7200 ~~556,757~~0.7600 ~~348~~396,~~097~~286.6931 0.00 1604,~~486,818~~286.1731 120 Days 10 0 0 0 10 ~~466,185~~0.0700 0.00 0.00 0.00 ~~466,185~~0.0700 150 Days 0 0 10 0 10 0.00 0.00 ~~595,339~~0.2000 0.00 ~~595,339~~0.2000 180+ Days 0 01 23 2 4 ~~0.00~~8 0.00 ~~650~~556,~~725~~757.0276 ~~711~~1,~~128~~284,714.0038 1,~~361~~486,~~853~~760.0260 3,328,232.74 Totals 11 6 45 25 23 4 20 1,773,612.26 2,~~341~~076,038.83 2,~~341~~153,~~341~~944.4936 1,~~594~~486,~~161~~760.9160 ~~711~~7,~~128.00 9~~490,~~258,973~~356.2305 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.~~550661~~381194% 0.000000% 0.000000% 0.~~550661~~381194% 0.~~687791~~655705% 0.000000% 0.000000% 0.~~687791~~655705% 30 Days 0.~~550661~~508259% 0.000000% 0.000000% 0.000000% 0.~~550661~~508259% 0.~~811404~~489652% 0.000000% 0.000000% 0.000000% 0.~~811404~~489652% 60 Days 0.~~440529~~127065% 0.~~000000~~127065% 0.~~000000~~127065% 0.000000% 0.~~440529~~381194% 0.~~562261~~216498% 0.~~000000~~029547% 0.~~000000~~213315% 0.000000% 0.~~562261~~459361% 90 Days 0.~~110132~~127065% 0.~~110132~~000000% 0.~~110132~~127065% 0.000000% 0.~~330396~~254130% 0.~~224292~~093816% 0.~~214578~~000000% 0.~~134159~~178740% 0.000000% 0.~~573030~~272556% 120 Days 0.~~110132~~000000% 0.000000% 0.000000% 0.000000% 0.~~110132~~000000% 0.~~179671~~000000% 0.000000% 0.000000% 0.000000% 0.~~179671~~000000% 150 Days 0.000000% 0.000000% 0.~~110132~~000000% 0.000000% 0.~~110132~~000000% 0.000000% 0.000000% 0.~~229448~~000000% 0.000000% 0.~~229448~~000000% 180+ Days 0.000000% 0.~~000000~~127065% 0.~~220264~~381194% 0.~~220264~~508259% 01.~~440529~~016518% 0.000000% 0.~~000000~~251119% 0.~~250794~~579454% 0.~~274074~~670585% 01.~~524868~~501158% Totals 10.~~211454~~762389% 0.~~660793~~635324% 0.~~440529~~635324% 0.~~220264~~508259% 2.~~533040~~541296% 10.~~777628~~799966% 0.~~902369~~936371% 0.~~614401~~971510% 0.~~274074~~670585% 3.~~568472~~378432%

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 53 0 0 53 1,~~784~~453,~~583~~771.7331 0.00 0.00 1,~~784~~453,~~583~~771.7331 30 Days 53 0 0 0 53 2772,~~105,318~~962.9864 0.00 0.00 0.00 2772,~~105,318~~962.9864 60 Days 21 01 0 0 2 ~~563~~480,~~747~~000.8300 065,509.0076 0.00 0.00 ~~563~~545,~~747~~509.8376 90 Days 1 0 01 0 12 ~~581~~208,~~962~~000.7200 0.00 0396,286.0031 0.00 ~~581~~604,~~962~~286.7231 120 Days 10 0 0 0 10 ~~466,185~~0.0700 0.00 0.00 0.00 ~~466,185~~0.0700 150 Days 0 0 10 0 10 0.00 0.00 ~~595,339~~0.2000 0.00 ~~595,339~~0.2000 180 Days 0 0 13 1 24 0.00 0.00 ~~223~~1,~~190~~284,714.1138 412,828.00 ~~636~~1,~~018~~697,542.1138 Totals 9 5 24 4 1 1714 31,~~717~~460,~~214~~962.6064 1,~~784~~519,~~583~~281.7307 ~~818~~1,~~529~~681,000.3169 412,828.00 65,~~733~~074,~~155~~072.6440 0-29 Days 0.~~629723~~437956% 0.000000% 0.000000% 0.~~629723~~437956% 0.~~844994~~813517% 0.000000% 0.000000% 0.~~844994~~813517% 30 Days 0.~~629723~~437956% 0.000000% 0.000000% 0.000000% 0.~~629723~~437956% 0.~~996861~~432543% 0.000000% 0.000000% 0.000000% 0.~~996861~~432543% 60 Days 0.~~251889~~145985% 0.~~000000~~145985% 0.000000% 0.000000% 0.~~251889~~291971% 0.~~266933~~268604% 0.~~000000~~036659% 0.000000% 0.000000% 0.~~266933~~305262% 90 Days 0.~~125945~~145985% 0.000000% 0.~~000000~~145985% 0.000000% 0.~~125945~~291971% 0.~~275557~~116395% 0.000000% 0.~~000000~~221758% 0.000000% 0.~~275557~~338153% 120 Days 0.~~125945~~000000% 0.000000% 0.000000% 0.000000% 0.~~125945~~000000% 0.~~220737~~000000% 0.000000% 0.000000% 0.000000% 0.~~220737~~000000% 150 Days 0.000000% 0.000000% 0.~~125945~~000000% 0.000000% 0.~~125945~~000000% 0.000000% 0.000000% 0.~~281891~~000000% 0.000000% 0.~~281891~~000000% 180 Days 0.000000% 0.000000% 0.~~125945~~437956% 0.~~125945~~145985% 0.~~251889~~583942% 0.000000% 0.000000% 0.~~105680~~718915% 0.~~195473~~231015% 0.~~301152~~949930% Totals 10.~~133501~~729927% 0.~~629723~~583942% 0.~~251889~~583942% 0.~~125945~~145985% 2.~~141058~~043796% 10.~~760089~~817542% 0.~~844994~~850176% 0.~~387571~~940673% 0.~~195473~~231015% 32.~~188127~~839405% 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 01 0 0 0 01 0312,649.0062 0.00 0.00 0.00 0312,649.0062 60 Days 2 0 0 1 0 21 ~~895,127.23~~ 0.00 0.00 472,943.67 0.00 ~~895~~472,~~127~~943.2367 90 Days 0 10 10 0 20 0.00 ~~556,757~~0.7600 ~~348,097~~0.6900 0.00 ~~904,855~~0.4500 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 1 10 23 4 0.00 556,757.76 0.00 ~~427~~1,~~534.91 298~~073,~~300~~932.0060 ~~725~~1,~~834~~630,690.9136 Totals 21 1 2 1 3 6 ~~895~~312,~~127~~649.2362 556,757.76 ~~775~~472,~~632~~943.6067 ~~298~~1,~~300~~073,932.0060 2,~~525~~416,~~817~~283.5965 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~980392% 0.000000% 0.000000% 0.000000% 0.~~000000~~980392% 0.~~000000~~726938% 0.000000% 0.000000% 0.000000% 0.~~000000~~726938% 60 Days 10.~~754386~~000000% 0.000000% 0.~~000000~~980392% 0.000000% 10.~~754386~~980392% 10.~~854368~~000000% 0.000000% 01.~~000000~~099636% 0.000000% 1.~~854368~~099636% 90 Days 0.000000% 0.~~877193~~000000% 0.~~877193~~000000% 0.000000% 10.~~754386~~000000% 0.000000% 10.~~153393~~000000% 0.~~721128~~000000% 0.000000% 10.~~874521~~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~~980392% 0.~~877193~~000000% 02.~~877193~~941176% 13.~~754386~~921569% 0.000000% 01.~~000000~~294511% 0.~~885692~~000000% 02.~~617966~~496988% 13.~~503657~~791499% Totals 10.~~754386~~980392% 0.~~877193~~980392% 10.~~754386~~980392% 02.~~877193~~941176% 5.~~263158~~882353% 10.~~854368~~726938% 1.~~153393~~294511% 1.~~606820~~099636% 02.~~617966~~496988% 5.~~232546~~618072%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4534,~~416~~896.2473

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~636102~~636943% Weighted Average Net Coupon 5.~~284746~~283608% Weighted Average Pass-Through Rate 5.~~251396~~250948% Weighted Average Maturity(Stepdown Calculation ) ~~337~~334 Beginning Scheduled Collateral Loan Count ~~973~~815 Number Of Loans Paid In Full 6528 Ending Scheduled Collateral Loan Count ~~908~~787 Beginning Scheduled Collateral Balance ~~279~~229,~~798~~208,~~290~~966.5866 Ending Scheduled Collateral Balance ~~259~~221,~~271~~534,~~458~~957.1535 Ending Actual Collateral Balance at 3130-~~Aug~~Nov-2004 ~~259~~221,~~466~~711,~~029~~052.9387 Monthly P &I Constant 1,~~510~~236,~~241~~835.4502 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~259~~221,~~271~~534,~~458~~957.1535 Scheduled Principal ~~196~~160,~~098~~136.3287 Unscheduled Principal 207,~~330~~513,~~734~~872.1144 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,341,097.00 Overcollateralized Amount 2,341,097.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~695~~479,~~927~~729.8249

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~326194~~329088 76.~~025797~~932796 5.~~636102~~636943 Weighted Average Net Rate 4.~~964823~~965014 6.~~719351~~624664 5.~~284746~~283608 Weighted Average Maturity ~~346~~343 ~~319~~316 ~~337~~334 Beginning Loan Count ~~851~~710 ~~122~~105 ~~973~~815 Loans Paid In Full 5725 83 6528 Ending Loan Count ~~794~~685 ~~114~~102 ~~908~~787 Beginning Scheduled Balance ~~228~~185,~~779~~209,~~484~~014.7019 5143,~~018~~999,~~805~~952.8847 ~~279~~229,~~798~~208,~~290~~966.5866 Ending scheduled Balance ~~211~~178,~~046~~575,~~576~~723.8271 4842,~~224~~959,~~881~~233.3364 ~~259~~221,~~271~~534,~~458~~957.1535 Record Date 0811/3130/2004 0811/3130/2004 0811/3130/2004 Principal And Interest Constant 1944,~~171,096~~617.2103 ~~339~~292,~~145~~217.2499 1,~~510~~236,~~241~~835.4502 Scheduled Principal ~~155~~122,~~659~~121.5514 4038,~~438~~015.7773 ~~196~~160,~~098~~136.3287 Unscheduled Principal 176,~~577~~511,~~248~~169.3334 21,~~753~~002,~~485~~703.7810 207,~~330~~513,~~734~~872.1144 Scheduled Interest 1822,~~015,436~~495.6689 ~~298~~254,~~706~~202.4726 1,~~314~~076,~~143~~698.1315 Servicing Fees 6856,~~895~~191.2442 1311,~~028~~298.7517 8167,~~923~~489.9959 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 32,~~692~~650.4847 43,~~083~~587.6778 76,~~776~~238.1525 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 ~~942~~763,~~848~~654.9400 ~~281~~239,~~594~~316.0531 1,~~224~~002,~~442~~970.9931 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.~~945456~~947841 6.~~623301~~526816 5.~~251396~~250948

Filing Compare · STRUCTURED ASSET MORT INV INC BEAR STEARNS ALT A TR 03 4