8-K 1 bsl04010_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 2004-10 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115122-18 Pooling and Servicing Agreement) (Commission 54-6636508 (State or other File Number) 54-6636509 jurisdiction 54-6636510 of Incorporation) 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 2004-10 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 2004-10 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 2004-10 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 2004-10 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/04 Distribution Date: 1112/2627/04 ~~BSL~~Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Series: 2004-10 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 07386HLZ2 SEN 2.~~27250~~52063% ~~168~~163,~~759~~370,~~667~~360.7755 ~~340~~354,~~894~~602.5331 57,~~389~~765,~~307~~614.2119 I-A-2 07386HMA6 SEN 2.~~15250~~40063% ~~193~~184,~~415~~187,~~053~~266.5416 ~~370~~380,~~067~~753.4760 913,~~227~~296,~~787~~595.3924 I-A-3 07386HMB4 SEN 2.~~43250~~68063% 95,542,000.00 ~~206~~220,~~583~~541.0454 0.00 II-A-1 07386HMC2 SEN 2.~~26250~~51063% ~~471~~464,~~447~~001,~~759~~380.0070 ~~948~~1,~~133~~003,139.8315 79,~~446~~011,~~378~~544.3199 II-A-2 07386HMD0 SEN 2.~~38250~~63063% 5251,~~383~~555,~~192~~815.4234 ~~110~~116,~~935~~787.9657 ~~827~~1,~~377~~001,284.0784 M-1 07386HME8 SUB 2.~~53250~~78063% 25,992,000.00 5862,~~510~~236.8806 0.00 M-2 07386HMF5 SUB 3.~~03250~~28063% 20,578,000.00 5558,~~469~~132.1458 0.00 B-1 07386HMG3 SUB 3.~~73250~~98063% 10,830,000.00 3537,~~931~~122.5369 0.00 B-2 07386HMH1 SUB 3.~~73250~~98063% 8,664,000.00 2829,~~745~~698.2315 0.00 XP 07386HMM0 SEN 0.00000% 100.00 1956,~~261~~642.7558 0.00 B-IO 07386HMN8 SEN 0.00000% 3,790,520.00 2,~~715~~502,~~213~~219.0903 0.00 R-1 07386HMJ7 RES 0.00000% 0.00 0.00 0.00 R-2 07386HMK4 RES 0.00000% 0.00 0.00 0.00 R-3 07386HML2 RES 0.00000% 0.00 0.00 0.00 Totals 1,~~051~~028,~~402~~511,~~292~~442.7375 4,~~889~~821,~~746~~875.4526 2231,~~890~~075,~~849~~039.9826

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~163~~155,~~370~~604,~~360~~746.5536 58,~~730~~120,~~201~~216.7450 0.00 I-A-2 0.00 ~~184~~170,~~187~~890,~~266~~670.1692 913,~~597~~677,~~854~~348.8684 0.00 I-A-3 0.00 95,542,000.00 ~~206~~220,~~583~~541.0454 0.00 II-A-1 0.00 ~~464~~454,~~001~~989,~~380~~835.7071 810,~~394~~014,~~512~~684.14 0.00 II-A-2 0.00 5150,~~555~~554,~~815~~530.3450 ~~938~~1,~~313~~118,072.0341 0.00 M-1 0.00 25,992,000.00 5862,~~510~~236.8806 0.00 M-2 0.00 20,578,000.00 5558,~~469~~132.1458 0.00 B-1 0.00 10,830,000.00 3537,~~931~~122.5369 0.00 B-2 0.00 8,664,000.00 2829,~~745~~698.2315 0.00 XP 0.00 100.00 1956,~~261~~642.7558 0.00 B-IO 0.00 3,790,520.00 2,~~715~~502,~~213~~219.0903 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 1997,~~028~~436,~~511,442~~403.7549 2735,~~780~~896,~~596~~914.4352 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-1 175,000,000.00 ~~168~~163,~~759~~370,~~667~~360.7755 0.00 57,~~389~~765,~~307~~614.2119 0.00 0.00 I-A-2 204,100,000.00 ~~193~~184,~~415~~187,~~053~~266.5416 0.00 913,~~227~~296,~~787~~595.3924 0.00 0.00 I-A-3 95,542,000.00 95,542,000.00 0.00 0.00 0.00 0.00 II-A-1 484,658,000.00 ~~471~~464,~~447~~001,~~759~~380.0070 0.00 79,~~446~~011,~~378~~544.3199 0.00 0.00 II-A-2 53,851,000.00 5251,~~383~~555,~~192~~815.4234 0.00 ~~827~~1,~~377~~001,284.0784 0.00 0.00 M-1 25,992,000.00 25,992,000.00 0.00 0.00 0.00 0.00 M-2 20,578,000.00 20,578,000.00 0.00 0.00 0.00 0.00 B-1 10,830,000.00 10,830,000.00 0.00 0.00 0.00 0.00 B-2 8,664,000.00 8,664,000.00 0.00 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 B-IO 3,790,679.00 3,790,520.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,083,005,779.00 1,~~051~~028,~~402~~511,~~292~~442.7375 0.00 2231,~~890~~075,~~849~~039.9826 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 57,~~389~~765,~~307~~614.2119 ~~163~~155,~~370~~604,~~360~~746.5536 0.~~93354492~~88916998 57,~~389~~765,~~307~~614.2119 I-A-2 913,~~227~~296,~~787~~595.3924 ~~184~~170,~~187~~890,~~266~~670.1692 0.~~90243638~~83728893 913,~~227~~296,~~787~~595.3924 I-A-3 0.00 95,542,000.00 1.00000000 0.00 II-A-1 79,~~446~~011,~~378~~544.3199 ~~464~~454,~~001~~989,~~380~~835.7071 0.~~95737898~~93878536 79,~~446~~011,~~378~~544.3199 II-A-2 ~~827~~1,~~377~~001,284.0784 5150,~~555~~554,~~815~~530.3450 0.~~95737898~~93878536 ~~827~~1,~~377~~001,284.0784 M-1 0.00 25,992,000.00 1.00000000 0.00 M-2 0.00 20,578,000.00 1.00000000 0.00 B-1 0.00 10,830,000.00 1.00000000 0.00 B-2 0.00 8,664,000.00 1.00000000 0.00 XP 0.00 100.00 1.00000000 0.00 B-IO 0.00 3,790,520.00 0.99995806 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 2231,~~890~~075,~~849~~039.9826 1997,~~028~~436,~~511,442~~403.7549 0.~~94968232~~92098899 2231,~~890~~075,~~849~~039.9826

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 175,000,000.00 ~~964~~933.~~34095869~~54491743 0.00000000 3044.~~79604120~~37493823 0.00000000 I-A-2 204,100,000.00 ~~947~~902.~~64847398~~43638491 0.00000000 4565.~~21208912~~14745341 0.00000000 I-A-3 95,542,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-1 484,658,000.00 ~~972~~957.~~74316941~~37897796 0.00000000 1518.~~36419147~~59361651 0.00000000 II-A-2 53,851,000.00 ~~972~~957.~~74316949~~37897792 0.00000000 1518.~~36419138~~59361646 0.00000000 M-1 25,992,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 20,578,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 10,830,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 8,664,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 3,790,679.00 999.95805501 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 3044.~~79604120~~37493823 ~~933~~889.~~54491743~~16997920 0.~~93354492~~88916998 3044.~~79604120~~37493823 I-A-2 0.00000000 4565.~~21208912~~14745341 ~~902~~837.~~43638491~~28893150 0.~~90243638~~83728893 4565.~~21208912~~14745341 I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-1 0.00000000 1518.~~36419147~~59361651 ~~957~~938.~~37897796~~78536145 0.~~95737898~~93878536 1518.~~36419147~~59361651 II-A-2 0.00000000 1518.~~36419138~~59361646 ~~957~~938.~~37897792~~78536146 0.~~95737898~~93878536 1518.~~36419138~~59361646 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-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 999.95805501 0.99995806 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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-1 175,000,000.00 2.~~27250~~52063% ~~168~~163,~~759~~370,~~667~~360.7755 ~~340~~354,~~894~~602.5331 0.00 0.00 I-A-2 204,100,000.00 2.~~15250~~40063% ~~193~~184,~~415~~187,~~053~~266.5416 ~~370~~380,~~067~~753.4760 0.00 0.00 I-A-3 95,542,000.00 2.~~43250~~68063% 95,542,000.00 ~~206~~220,~~583~~541.0454 0.00 0.00 II-A-1 484,658,000.00 2.~~26250~~51063% ~~471~~464,~~447~~001,~~759~~380.0070 ~~948~~1,~~133~~003,139.8315 0.00 0.00 II-A-2 53,851,000.00 2.~~38250~~63063% 5251,~~383~~555,~~192~~815.4234 ~~110~~116,~~935~~787.9657 0.00 0.00 M-1 25,992,000.00 2.~~53250~~78063% 25,992,000.00 5862,~~510~~236.8806 0.00 0.00 M-2 20,578,000.00 3.~~03250~~28063% 20,578,000.00 5558,~~469~~132.1458 0.00 0.00 B-1 10,830,000.00 3.~~73250~~98063% 10,830,000.00 3537,~~931~~122.5369 0.00 0.00 B-2 8,664,000.00 3.~~73250~~98063% 8,664,000.00 2829,~~745~~698.2315 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 B-IO 3,790,679.00 0.00000% 1,~~051~~028,~~402~~511,~~192~~342.7375 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,083,005,779.00 2,~~155~~263,~~271~~013.6165 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 ~~340~~354,~~894~~602.5331 0.00 ~~163~~155,~~370~~604,~~360~~746.5536 I-A-2 0.00 0.00 ~~370~~380,~~067~~753.4760 0.00 ~~184~~170,~~187~~890,~~266~~670.1692 I-A-3 0.00 0.00 ~~206~~220,~~583~~541.0454 0.00 95,542,000.00 II-A-1 0.00 0.00 ~~948~~1,~~133~~003,139.8315 0.00 ~~464~~454,~~001~~989,~~380~~835.7071 II-A-2 0.00 0.00 ~~110~~116,~~935~~787.9657 0.00 5150,~~555~~554,~~815~~530.3450 M-1 0.00 0.00 5862,~~510~~236.8806 0.00 25,992,000.00 M-2 0.00 0.00 5558,~~469~~132.1458 0.00 20,578,000.00 B-1 0.00 0.00 3537,~~931~~122.5369 0.00 10,830,000.00 B-2 0.00 0.00 2829,~~745~~698.2315 0.00 8,664,000.00 XP 0.00 0.00 1956,~~261~~642.7558 0.00 100.00 B-IO 0.00 0.00 2,~~715~~502,~~213~~219.0903 0.00 1997,~~028~~436,~~511,342~~303.7549 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~889~~821,~~746~~875.4526 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-1 175,000,000.00 2.~~27250~~52063% ~~964~~933.~~34095869~~54491743 12.~~94796874~~02629891 0.00000000 0.00000000 I-A-2 204,100,000.00 2.~~15250~~40063% ~~947~~902.~~64847398~~43638491 1.~~81316742~~86552474 0.00000000 0.00000000 I-A-3 95,542,000.00 2.~~43250~~68063% 1000.00000000 2.~~16222227~~30832032 0.00000000 0.00000000 II-A-1 484,658,000.00 2.~~26250~~51063% ~~972~~957.~~74316941~~37897796 12.~~95629460~~06978766 0.00000000 0.00000000 II-A-2 53,851,000.00 2.~~38250~~63063% ~~972~~957.~~74316949~~37897792 2.~~06005385~~16871683 0.00000000 0.00000000 M-1 25,992,000.00 2.~~53250~~78063% 1000.00000000 2.~~25111111~~39443136 0.00000000 0.00000000 M-2 20,578,000.00 3.~~03250~~28063% 1000.00000000 2.~~69555545~~82498688 0.00000000 0.00000000 B-1 10,830,000.00 3.~~73250~~98063% 1000.00000000 3.~~31777747~~42776454 0.00000000 0.00000000 B-2 8,664,000.00 3.~~73250~~98063% 1000.00000000 3.~~31777816~~42776431 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 3,790,679.00 0.00000% ~~277365~~271326.~~13504045~~41480590 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 0.00000000 12.~~94796874~~02629891 0.00000000 ~~933~~889.~~54491743~~16997920 I-A-2 0.00000000 0.00000000 1.~~81316742~~86552474 0.00000000 ~~902~~837.~~43638491~~28893150 I-A-3 0.00000000 0.00000000 2.~~16222227~~30832032 0.00000000 1000.00000000 II-A-1 0.00000000 0.00000000 12.~~95629460~~06978766 0.00000000 ~~957~~938.~~37897796~~78536145 II-A-2 0.00000000 0.00000000 2.~~06005385~~16871683 0.00000000 ~~957~~938.~~37897792~~78536146 M-1 0.00000000 0.00000000 2.~~25111111~~39443136 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~69555545~~82498688 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~31777747~~42776454 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.~~31777816~~42776431 0.00000000 1000.00000000 XP 0.00000000 0.00000000 ~~192617~~566425.~~50000000~~80000000 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~716~~660.~~28673649~~09784263 0.00000000 ~~271326~~263128.~~41480590~~66467723 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 2836,~~086~~263,~~603~~522.8308 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~179~~143,~~313~~008.7277 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2836,~~265~~406,~~917~~530.5585 Withdrawals Reimbursement for Servicer Advances ~~147~~179,~~962~~313.2972 Payment of Service Fee ~~337~~330,~~358~~302.8460 Payment of Interest and Principal 2735,~~780~~896,~~596~~914.4253 Total Withdrawals (Pool Distribution Amount) 2836,~~265~~406,~~917~~530.5585 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~294~~288,~~746~~773.2005 Additional Servicing Fee 3837,~~223~~141.0602 Miscellaneous Fee 4,~~389~~388.5853 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~337~~330,~~358~~302.8460

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 ~~121~~81 01 0 0 ~~121~~82 2919,~~954~~261,~~754~~333.0828 0235,933.0062 0.00 0.00 2919,~~954~~497,~~754~~266.0890 60 Days 1914 0 0 0 1914 4,~~618~~318,~~656~~652.2635 0.00 0.00 0.00 4,~~618~~318,~~656~~652.2635 90 Days 69 0 0 0 69 12,~~930~~140,~~440~~834.3236 0.00 0.00 0.00 12,~~930~~140,~~440~~834.3236 120 Days 03 0 03 0 06 0874,559.0046 0.00 01,055,880.0086 0.00 01,930,440.0032 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 ~~146~~107 01 03 0 ~~146~~111 3626,~~503~~595,~~850~~379.6645 0235,933.0062 01,055,880.0086 0.00 3627,~~503~~887,~~850~~193.6693 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 21.~~844382~~946180% 0.~~000000~~024027% 0.000000% 0.000000% 21.~~844382~~970207% 21.~~912039~~930822% 0.~~000000~~023651% 0.000000% 0.000000% 21.~~912039~~954473% 60 Days 0.~~446638~~336377% 0.000000% 0.000000% 0.000000% 0.~~446638~~336377% 0.~~449001~~432916% 0.000000% 0.000000% 0.000000% 0.~~449001~~432916% 90 Days 0.~~141044~~216242% 0.000000% 0.000000% 0.000000% 0.~~141044~~216242% 0.~~187667~~214605% 0.000000% 0.000000% 0.000000% 0.~~187667~~214605% 120 Days 0.~~000000~~072081% 0.000000% 0.~~000000~~072081% 0.000000% 0.~~000000~~144161% 0.~~000000~~087669% 0.000000% 0.~~000000~~105845% 0.000000% 0.~~000000~~193514% 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 32.~~432064~~570879% 0.~~000000~~024027% 0.~~000000~~072081% 0.000000% 32.~~432064~~666987% 32.~~548707~~666012% 0.~~000000~~023651% 0.~~000000~~105845% 0.000000% 32.~~548707~~795507%

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 4325 01 0 0 4326 149,~~970~~998,~~639~~562.2870 0235,933.0062 0.00 0.00 1410,~~970~~234,~~639~~496.2832 60 Days 97 0 0 0 97 2,~~514~~741,~~104~~815.2551 0.00 0.00 0.00 2,~~514~~741,~~104~~815.2551 90 Days 35 0 0 0 35 1,~~434~~410,~~980~~090.8636 0.00 0.00 0.00 1,~~434~~410,~~980~~090.8636 120 Days 01 0 02 0 03 0510,300.00 0.00 0924,680.0086 0.00 01,434,980.0086 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 5538 01 02 0 5541 1814,~~919~~660,~~724~~768.3957 0235,933.0062 0924,680.0086 0.00 1815,~~919~~821,~~724~~383.3905 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~745645~~256318% 0.~~000000~~090253% 0.000000% 0.000000% 32.~~745645~~346570% 32.~~145894~~198389% 0.~~000000~~051875% 0.000000% 0.000000% 32.~~145894~~250264% 60 Days 0.~~783972~~631769% 0.000000% 0.000000% 0.000000% 0.~~783972~~631769% 0.~~528308~~602844% 0.000000% 0.000000% 0.000000% 0.~~528308~~602844% 90 Days 0.~~261324~~451264% 0.000000% 0.000000% 0.000000% 0.~~261324~~451264% 0.~~301543~~310037% 0.000000% 0.000000% 0.000000% 0.~~301543~~310037% 120 Days 0.~~000000~~090253% 0.000000% 0.~~000000~~180505% 0.000000% 0.~~000000~~270758% 0.~~000000~~112200% 0.000000% 0.~~000000~~203310% 0.000000% 0.~~000000~~315510% 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 43.~~790941~~429603% 0.~~000000~~090253% 0.~~000000~~180505% 0.000000% 43.~~790941~~700361% 3.~~975745~~223470% 0.~~000000~~051875% 0.~~000000~~203310% 0.000000% 3.~~975745~~478655% 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 7856 0 0 0 7856 149,~~984~~262,~~114~~770.8058 0.00 0.00 0.00 149,~~984~~262,~~114~~770.8058 60 Days 107 0 0 0 107 21,~~104~~576,~~552~~836.0184 0.00 0.00 0.00 21,~~104~~576,~~552~~836.0184 90 Days 34 0 0 0 34 ~~495~~730,~~459~~744.4600 0.00 0.00 0.00 ~~495~~730,~~459~~744.4600 120 Days 02 0 01 0 03 0364,259.0046 0.00 0131,200.00 0.00 0495,459.0046 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 9169 0 01 0 9170 1711,~~584~~934,~~126~~610.2788 0.00 0131,200.00 0.00 1712,~~584~~065,~~126~~810.2788 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~511269~~833661% 0.000000% 0.000000% 0.000000% 21.~~511269~~833661% 21.~~710715~~706610% 0.000000% 0.000000% 0.000000% 21.~~710715~~706610% 60 Days 0.~~321958~~229208% 0.000000% 0.000000% 0.000000% 0.~~321958~~229208% 0.~~380726~~290523% 0.000000% 0.000000% 0.000000% 0.~~380726~~290523% 90 Days 0.~~096587~~130976% 0.000000% 0.000000% 0.000000% 0.~~096587~~130976% 0.~~089632~~134635% 0.000000% 0.000000% 0.000000% 0.~~089632~~134635% 120 Days 0.~~000000~~065488% 0.000000% 0.~~000000~~032744% 0.000000% 0.~~000000~~098232% 0.~~000000~~067113% 0.000000% 0.~~000000~~024173% 0.000000% 0.~~000000~~091285% 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 2.~~929813~~259332% 0.000000% 0.~~000000~~032744% 0.000000% 2.~~929813~~292076% 32.~~181073~~198880% 0.000000% 0.~~000000~~024173% 0.000000% 32.~~181073~~223053%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~179~~143,~~313~~008.7277

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~943883~~945138% Weighted Average Net Coupon 5.~~607479~~608216% Weighted Average Pass-Through Rate 5.~~558844~~559762% Weighted Average Maturity(Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 4,~~324~~254 Number Of Loans Paid In Full 7092 Ending Scheduled Collateral Loan Count 4,~~254~~162 Beginning Scheduled Collateral Balance 1,~~051~~028,~~402~~511,~~192~~342.7375 Ending Scheduled Collateral Balance 1997,~~028~~436,~~511,342~~303.7549 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 1997,~~028~~571,~~652,238~~782.4637 Monthly P &I Constant 5,~~378~~263,~~088~~975.3182 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~170~~168,~~245~~441.5911 Unscheduled Principal 2230,~~720~~906,~~604~~598.3915 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,790,520.00 Overcollateralized Amount 3,790,520.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,~~715~~502,~~213~~219.0903

Group Level Collateral Statement Group GROUP 1 GROUP 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~890886~~894416 5.~~990217~~988805 5.~~943883~~945138 Weighted Average Net Rate 5.~~560532~~563235 5.~~648524~~646942 5.~~607479~~608216 Weighted Average Maturity ~~356~~355 ~~356~~355 ~~356~~355 Beginning Loan Count 1,~~175~~148 3,~~149~~106 4,~~324~~254 Loans Paid In Full 2740 4352 7092 Ending Loan Count 1,~~148~~108 3,~~106~~054 4,~~254~~162 Beginning Scheduled Balance ~~490~~475,~~441~~824,~~817~~723.9737 ~~560~~552,~~960~~686,~~374~~619.7638 1,~~051~~028,~~402~~511,~~192~~342.7375 Ending scheduled Balance ~~475~~454,~~824~~762,~~723~~513.3794 ~~552~~542,~~686~~673,~~619~~789.3855 1997,~~028~~436,~~511,342~~303.7549 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 2,~~472~~401,~~003~~243.7286 2,~~906~~862,~~084~~731.5996 5,~~378~~263,~~088~~975.3182 Scheduled Principal 6463,~~389~~986.8834 ~~105~~104,~~855~~454.7177 ~~170~~168,~~245~~441.5911 Unscheduled Principal 1420,~~552~~998,~~704~~223.7209 89,~~167~~908,~~899~~375.6706 2230,~~720~~906,~~604~~598.3915 Scheduled Interest 2,~~407~~337,~~613~~257.8452 2,~~800~~758,~~228~~277.8819 5,~~207~~095,~~842~~534.7271 Servicing Fees ~~135~~131,~~015~~320.9741 ~~159~~157,~~730~~452.2364 ~~294~~288,~~746~~773.2005 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 2322,~~486~~709.1774 1918,~~126~~819.4781 4241,~~612~~529.6455 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 2,~~249~~183,~~111~~227.7037 2,~~621~~582,~~372~~004.1874 4,~~870~~765,~~483~~232.8811 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.~~503067~~505962 5.~~607609~~606081 5.~~558844~~559762

Filing Compare · STRUCTURED ASSET MORT INV II INC BEAR STEARNS ALT A TR 04 10