8-K 1 bst03004_dec.txt DECEMBER 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 033-44658-32 Pooling and Servicing Agreement) (Commission 54-2120395 (State or other File Number) 54-2120396 jurisdiction 54-2120397 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 ARM TRUST, Mortgage Pass-Through Certificates, Series 2003-4 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 Trust, relating to the 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 ARM TRUST Mortgage Pass-Through Certificates, Series 2003-4 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 12/30/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-4 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~BST~~Bear Stearns ARM 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 07384MVM1 SEN 4.~~19295~~19317% 19,~~869~~161,~~101~~524.6865 6966,~~425~~956.1231 ~~707~~923,~~577~~171.0363 I-X-A-1 07384MVN9 SEN 0.17600% 0.00 2,~~914~~810.1336 0.00 II-A-1 07384MVP4 SEN 4.~~66525~~66320% ~~146~~143,~~600~~731,~~726~~775.1723 ~~569~~558,~~940~~541.9846 23,~~868~~545,~~950~~298.9405 II-X-A-1 07384MVQ2 SEN 0.26600% 0.00 3231,~~496~~860.4954 0.00 III-A-1 07384MVR0 SEN 4.~~96703~~96709% 157,~~176~~032,~~533~~663.7034 ~~650~~649,~~583~~995.2270 ~~143~~3,~~870~~155,438.3574 III-X-A-1 07384MVS8 SEN 0.22400% 0.00 29,~~339~~312.6276 0.00 R-I 07384MVT6 SEN 4.~~56012~~56484% 0.00 0.00 0.00 R-II 07384MVU3 SEN 4.~~56012~~56484% 0.00 0.00 0.00 R-III 07384MVV1 SEN 4.~~56012~~56484% 0.00 0.00 0.00 B-1 07384MVW9 SUB 54.~~00068~~99985% 5,~~906~~901,~~163~~748.4132 24,~~612~~589.3587 4,~~415~~472.0941 B-2 07384MVX7 SUB 54.~~00068~~99985% 4,~~499~~496,~~830~~466.5170 18,~~751~~734.8471 3,~~363~~407.8047 B-3 07384MVY5 SUB 54.~~00068~~99985% 3,~~093~~091,~~794~~481.0531 12,~~892~~880.5678 2,~~312~~342.7476 B-4 07384MVZ2 SUB 54.~~00068~~99985% 1,~~406~~405,~~234~~182.0987 5,~~860~~854.1075 1,~~051~~064.2286 B-5 07384MWA6 SUB 54.~~00068~~99985% 843,~~681~~050.1648 3,~~515~~512.8160 ~~630~~638.6987 B-6 07384MWB4 SUB 54.~~00068~~99985% 1,~~125~~124,~~151~~310.3021 4,~~688~~684.7748 ~~841~~852.1001 Totals ~~340~~336,~~521~~788,~~216~~203.0711 1,~~425~~409,~~020~~734.9932 37,~~733~~636,~~012~~686.9680

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 1918,~~161~~238,~~524~~353.6502 ~~777~~990,~~002~~127.1594 0.00 I-X-A-1 0.00 0.00 2,~~914~~810.1336 0.00 II-A-1 0.00 ~~143~~140,~~731~~186,~~775~~477.2318 34,~~438~~103,~~891~~839.9251 0.00 II-X-A-1 0.00 0.00 3231,~~496~~860.4954 0.00 III-A-1 0.00 ~~157~~153,~~032~~877,~~663~~224.3460 ~~794~~3,~~453~~805,434.5744 0.00 III-X-A-1 0.00 0.00 29,~~339~~312.6276 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 B-1 0.00 5,~~901~~897,~~748~~275.3291 29,~~027~~062.4428 0.00 B-2 0.00 4,~~496~~493,~~466~~059.7023 22,~~115~~142.6418 0.00 B-3 0.00 3,~~091~~089,~~481~~138.3156 15,~~205~~223.3054 0.00 B-4 0.00 1,~~405~~404,~~182~~118.8701 6,~~911~~919.3261 0.00 B-5 0.00 ~~843~~842,~~050~~411.4861 4,~~146~~151.5047 0.00 B-6 0.00 1,~~124~~123,~~310~~458.2119 5,~~529~~536.8749 0.00 Totals 0.00 ~~336~~329,~~788~~151,~~203~~516.1131 59,~~158~~046,~~033~~421.9512 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A-1 50,011,600.00 19,~~869~~161,~~101~~524.6865 25,~~983~~704.1457 ~~681~~897,~~593~~467.8906 0.00 0.00 I-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 II-A-1 247,776,800.00 ~~146~~143,~~600~~731,~~726~~775.1723 110,~~847~~419.0631 23,~~758~~434,~~103~~878.8874 0.00 0.00 II-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 III-A-1 254,370,500.00 157,~~176~~032,~~533~~663.7034 99,~~058~~593.4578 443,~~811~~055,844.9096 0.00 0.00 III-X-A-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 100.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 B-1 5,977,000.00 5,~~906~~901,~~163~~748.4132 4,~~415~~472.0941 0.00 0.00 0.00 B-2 4,553,800.00 4,~~499~~496,~~830~~466.5170 3,~~363~~407.8047 0.00 0.00 0.00 B-3 3,130,900.00 3,~~093~~091,~~794~~481.0531 2,~~312~~342.7476 0.00 0.00 0.00 B-4 1,423,100.00 1,~~406~~405,~~234~~182.0987 1,~~051~~064.2286 0.00 0.00 0.00 B-5 853,800.00 843,~~681~~050.1648 ~~630~~638.6987 0.00 0.00 0.00 B-6 1,138,646.00 1,~~125~~124,~~151~~310.3021 ~~841~~852.1001 0.00 0.00 0.00 Totals 569,236,346.00 ~~340~~336,~~521~~788,~~216~~203.0711 248,~~503~~496.2904 37,~~484~~388,~~509~~190.6776 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 ~~707~~923,~~577~~171.0363 1918,~~161~~238,~~524~~353.6502 0.~~38314160~~36468245 ~~707~~923,~~577~~171.0363 I-X-A-1 0.00 0.00 0.00000000 0.00 II-A-1 23,~~868~~545,~~950~~298.9405 ~~143~~140,~~731~~186,~~775~~477.2318 0.~~58008569~~56577725 23,~~868~~545,~~950~~298.9405 II-X-A-1 0.00 0.00 0.00000000 0.00 III-A-1 ~~143~~3,~~870~~155,438.3574 ~~157~~153,~~032~~877,~~663~~224.3460 0.~~61733834~~60493345 ~~143~~3,~~870~~155,438.3574 III-X-A-1 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 B-1 4,~~415~~472.0941 5,~~901~~897,~~748~~275.3291 0.~~98740979~~98666152 4,~~415~~472.0941 B-2 3,~~363~~407.8047 4,~~496~~493,~~466~~059.7023 0.~~98740979~~98666152 3,~~363~~407.8047 B-3 2,~~312~~342.7476 3,~~091~~089,~~481~~138.3156 0.~~98740979~~98666152 2,~~312~~342.7476 B-4 1,~~051~~064.2286 1,~~405~~404,~~182~~118.8701 0.~~98740979~~98666152 1,~~051~~064.2286 B-5 ~~630~~638.6987 ~~843~~842,~~050~~411.4861 0.~~98740979~~98666152 ~~630~~638.6987 B-6 ~~841~~852.1001 1,~~124~~123,~~310~~458.2119 0.~~98740979~~98666152 ~~841~~852.1001 Totals 37,~~733~~636,~~012~~686.9680 ~~336~~329,~~788~~151,~~203~~516.1131 0.~~59164916~~57823349 37,~~733~~636,~~012~~686.9680

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 50,011,600.00 ~~397~~383.~~28986235~~14160415 0.~~51954227~~51397216 1317.~~62871594~~94517792 0.00000000 I-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 247,776,800.00 ~~591~~580.~~66445838~~08568692 0.~~44736658~~44564023 1113.~~13140488~~86279401 0.00000000 II-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 254,370,500.00 617.~~90393815~~33834442 0.~~38942586~~39153039 012.~~17616783~~01336224 0.00000000 III-X-A-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 ~~988~~987.~~14847080~~40979086 0.~~73867994~~74827004 0.00000000 0.00000000 B-2 4,553,800.00 ~~988~~987.~~14847161~~40978963 0.~~73867978~~74826958 0.00000000 0.00000000 B-3 3,130,900.00 ~~988~~987.~~14847169~~40978952 0.~~73868217~~74827047 0.00000000 0.00000000 B-4 1,423,100.00 ~~988~~987.~~14847165~~40978849 0.~~73868316~~74826787 0.00000000 0.00000000 B-5 853,800.00 ~~988~~987.~~14846568~~40979152 0.~~73868587~~74826657 0.00000000 0.00000000 B-6 1,138,646.00 ~~988~~987.~~14846757~~40979198 0.~~73868437~~74826592 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 1418.~~14825820~~45915008 ~~383~~364.~~14160415~~68245407 0.~~38314160~~36468245 1418.~~14825820~~45915008 I-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-1 0.00000000 1114.~~57877146~~30843424 ~~580~~565.~~08568692~~77725267 0.~~58008569~~56577725 1114.~~57877146~~30843424 II-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 III-A-1 0.00000000 012.~~56559369~~40489263 ~~617~~604.~~33834442~~93345180 0.~~61733834~~60493345 012.~~56559369~~40489263 III-X-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~73867994~~74827004 ~~987~~986.~~40979086~~66152083 0.~~98740979~~98666152 0.~~73867994~~74827004 B-2 0.00000000 0.~~73867978~~74826958 ~~987~~986.~~40978963~~66152005 0.~~98740979~~98666152 0.~~73867978~~74826958 B-3 0.00000000 0.~~73868217~~74827047 ~~987~~986.~~40978952~~66152225 0.~~98740979~~98666152 0.~~73868217~~74827047 B-4 0.00000000 0.~~73868316~~74826787 ~~987~~986.~~40978849~~66152062 0.~~98740979~~98666152 0.~~73868316~~74826787 B-5 0.00000000 0.~~73868587~~74826657 ~~987~~986.~~40979152~~66152495 0.~~98740979~~98666152 0.~~73868587~~74826657 B-6 0.00000000 0.~~73868437~~74826592 ~~987~~986.~~40979198~~66151728 0.~~98740979~~98666152 0.~~73868437~~74826592 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall I-A-1 50,011,600.00 4.~~19295~~19317% 19,~~869~~161,~~101~~524.6865 6966,~~425~~956.1231 0.00 0.00 I-X-A-1 0.00 0.17600% 19,~~869~~161,~~101~~524.6865 2,~~914~~810.1336 0.00 0.00 II-A-1 247,776,800.00 4.~~66525~~66320% ~~146~~143,~~600~~731,~~726~~775.1723 ~~569~~558,~~940~~541.9746 0.00 0.00 II-X-A-1 0.00 0.26600% ~~146~~143,~~600~~731,~~726~~775.1723 3231,~~496~~860.4954 0.00 0.00 III-A-1 254,370,500.00 4.~~96703~~96709% 157,~~176~~032,~~533~~663.7034 ~~650~~649,~~583~~995.2170 0.00 0.00 III-X-A-1 0.00 0.22400% 157,~~176~~032,~~533~~663.7034 29,~~339~~312.6276 0.00 0.00 R-I 100.00 4.~~56012~~56484% 0.00 0.00 0.00 0.00 R-II 50.00 4.~~56012~~56484% 0.00 0.00 0.00 0.00 R-III 50.00 4.~~56012~~56484% 0.00 0.00 0.00 0.00 B-1 5,977,000.00 54.~~00068~~99985% 5,~~906~~901,~~163~~748.4132 24,~~612~~589.3587 0.00 0.00 B-2 4,553,800.00 54.~~00068~~99985% 4,~~499~~496,~~830~~466.5170 18,~~751~~734.8471 0.00 0.00 B-3 3,130,900.00 54.~~00068~~99985% 3,~~093~~091,~~794~~481.0531 12,~~892~~880.5678 0.00 0.00 B-4 1,423,100.00 54.~~00068~~99985% 1,~~406~~405,~~234~~182.0987 5,~~860~~854.1075 0.00 0.00 B-5 853,800.00 54.~~00068~~99985% 843,~~681~~050.1648 3,~~515~~512.8160 0.00 0.00 B-6 1,138,646.00 54.~~00068~~99985% 1,~~125~~124,~~151~~310.3021 4,~~688~~684.7748 0.00 0.00 Totals 569,236,346.00 1,~~425~~409,~~020~~734.9732 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 6966,~~425~~956.1231 0.00 1918,~~161~~238,~~524~~353.6502 I-X-A-1 0.00 0.00 2,~~914~~810.1336 0.00 1918,~~161~~238,~~524~~353.6502 II-A-1 0.00 0.00 ~~569~~558,~~940~~541.9846 0.00 ~~143~~140,~~731~~186,~~775~~477.2318 II-X-A-1 0.00 0.00 3231,~~496~~860.4954 0.00 ~~143~~140,~~731~~186,~~775~~477.2318 III-A-1 0.00 0.00 ~~650~~649,~~583~~995.2270 0.00 ~~157~~153,~~032~~877,~~663~~224.3460 III-X-A-1 0.00 0.00 29,~~339~~312.6276 0.00 ~~157~~153,~~032~~877,~~663~~224.3460 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 24,~~612~~589.3587 0.00 5,~~901~~897,~~748~~275.3291 B-2 0.00 0.00 18,~~751~~734.8471 0.00 4,~~496~~493,~~466~~059.7023 B-3 0.00 0.00 12,~~892~~880.5678 0.00 3,~~091~~089,~~481~~138.3156 B-4 0.00 0.00 5,~~860~~854.1075 0.00 1,~~405~~404,~~182~~118.8701 B-5 0.00 0.00 3,~~515~~512.8160 0.00 ~~843~~842,~~050~~411.4861 B-6 0.00 0.00 4,~~688~~684.7748 0.00 1,~~124~~123,~~310~~458.2119 Totals 0.00 0.00 1,~~425~~409,~~020~~734.9932 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall I-A-1 50,011,600.00 4.~~19295~~19317% ~~397~~383.~~28986235~~14160415 1.~~38818034~~33881559 0.00000000 0.00000000 I-X-A-1 0.00 0.17600% ~~397~~383.~~28986235~~14160415 0.~~05826908~~05619416 0.00000000 0.00000000 II-A-1 247,776,800.00 4.~~66525~~66320% ~~591~~580.~~66445838~~08568692 2.~~30021927~~25421210 0.00000000 0.00000000 II-X-A-1 0.00 0.26600% ~~591~~580.~~66445838~~08568692 0.~~13115227~~12858565 0.00000000 0.00000000 III-A-1 254,370,500.00 4.~~96703~~96709% 617.~~90393815~~33834442 2.~~55762052~~55531086 0.00000000 0.00000000 III-X-A-1 0.00 0.22400% 617.~~90393815~~33834442 0.~~11534207~~11523648 0.00000000 0.00000000 R-I 100.00 4.~~56012~~56484% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 4.~~56012~~56484% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 4.~~56012~~56484% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,977,000.00 54.~~00068~~99985% ~~988~~987.~~14847080~~40979086 4.~~11784340~~11408232 0.00000000 0.00000000 B-2 4,553,800.00 54.~~00068~~99985% ~~988~~987.~~14847161~~40978963 4.~~11784444~~11408274 0.00000000 0.00000000 B-3 3,130,900.00 54.~~00068~~99985% ~~988~~987.~~14847169~~40978952 4.~~11784471~~11408221 0.00000000 0.00000000 B-4 1,423,100.00 54.~~00068~~99985% ~~988~~987.~~14847165~~40978849 4.~~11784133~~11408193 0.00000000 0.00000000 B-5 853,800.00 54.~~00068~~99985% ~~988~~987.~~14846568~~40979152 4.~~11783790~~11407824 0.00000000 0.00000000 B-6 1,138,646.00 54.~~00068~~99985% ~~988~~987.~~14846757~~40979198 4.~~11784699~~11407935 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance I-A-1 0.00000000 0.00000000 1.~~38818034~~33881559 0.00000000 ~~383~~364.~~14160415~~68245407 I-X-A-1 0.00000000 0.00000000 0.~~05826908~~05619416 0.00000000 ~~383~~364.~~14160415~~68245407 II-A-1 0.00000000 0.00000000 2.~~30021931~~25421210 0.00000000 ~~580~~565.~~08568692~~77725267 II-X-A-1 0.00000000 0.00000000 0.~~13115227~~12858565 0.00000000 ~~580~~565.~~08568692~~77725267 III-A-1 0.00000000 0.00000000 2.~~55762056~~55531086 0.00000000 ~~617~~604.~~33834442~~93345180 III-X-A-1 0.00000000 0.00000000 0.~~11534207~~11523648 0.00000000 ~~617~~604.~~33834442~~93345180 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~11784340~~11408232 0.00000000 ~~987~~986.~~40979086~~66152083 B-2 0.00000000 0.00000000 4.~~11784444~~11408274 0.00000000 ~~987~~986.~~40978963~~66152005 B-3 0.00000000 0.00000000 4.~~11784471~~11408221 0.00000000 ~~987~~986.~~40978952~~66152225 B-4 0.00000000 0.00000000 4.~~11784133~~11408193 0.00000000 ~~987~~986.~~40978849~~66152062 B-5 0.00000000 0.00000000 4.~~11783790~~11407824 0.00000000 ~~987~~986.~~40979152~~66152495 B-6 0.00000000 0.00000000 4.~~11784699~~11407935 0.00000000 ~~987~~986.~~40979198~~66151728 (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 59,~~235~~125,~~789~~726.3437 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 11,~~882~~679.1674 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 59,~~247~~137,~~671~~406.5011 Withdrawals Reimbursement for Servicer Advances 911,~~614~~882.3316 Payment of Service Fee 8079,~~023~~102.2282 Payment of Interest and Principal 59,~~158~~046,~~033~~421.9513 Total Withdrawals (Pool Distribution Amount) 59,~~247~~137,~~671~~406.5011 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8079,~~023~~102.2282 Miscellaneous Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8079,~~023~~102.2282

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 45 0 0 0 45 21,~~455~~785,~~666~~127.8037 0.00 0.00 0.00 21,~~455~~785,~~666~~127.8037 60 Days 01 0 0 0 01 0527,595.0058 0.00 0.00 0.00 0527,595.0058 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 46 0 0 0 46 2,~~455~~312,~~666~~722.8095 0.00 0.00 0.00 2,~~455~~312,~~666~~722.8095 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~539811~~691563% 0.000000% 0.000000% 0.000000% 0.~~539811~~691563% 0.~~728732~~542022% 0.000000% 0.000000% 0.000000% 0.~~728732~~542022% 60 Days 0.~~000000~~138313% 0.000000% 0.000000% 0.000000% 0.~~000000~~138313% 0.~~000000~~160195% 0.000000% 0.000000% 0.000000% 0.~~000000~~160195% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~539811~~829876% 0.000000% 0.000000% 0.000000% 0.~~539811~~829876% 0.~~728732~~702217% 0.000000% 0.000000% 0.000000% 0.~~728732~~702217%

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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 21 0 0 0 21 ~~982~~325,~~622~~795.7958 0.00 0.00 0.00 ~~982~~325,~~622~~795.7958 60 Days 01 0 0 0 01 0527,595.0058 0.00 0.00 0.00 0527,595.0058 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 2 0 0 0 2 ~~982~~853,~~622~~391.7916 0.00 0.00 0.00 ~~982~~853,~~622~~391.7916 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~598802~~306748% 0.000000% 0.000000% 0.000000% 0.~~598802~~306748% 0.~~649089~~220375% 0.000000% 0.000000% 0.000000% 0.~~649089~~220375% 60 Days 0.~~000000~~306748% 0.000000% 0.000000% 0.000000% 0.~~000000~~306748% 0.~~000000~~356876% 0.000000% 0.000000% 0.000000% 0.~~000000~~356876% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~598802~~613497% 0.000000% 0.000000% 0.000000% 0.~~598802~~613497% 0.~~649089~~577251% 0.000000% 0.000000% 0.000000% 0.~~649089~~577251% 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 24 0 0 0 24 1,~~473~~459,~~044~~331.0179 0.00 0.00 0.00 1,~~473~~459,~~044~~331.0179 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 24 0 0 0 24 1,~~473~~459,~~044~~331.0179 0.00 0.00 0.00 1,~~473~~459,~~044~~331.0179 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~568182~~162791% 0.000000% 0.000000% 0.000000% 01.~~568182~~162791% 0.~~893302~~902268% 0.000000% 0.000000% 0.000000% 0.~~893302~~902268% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~568182~~162791% 0.000000% 0.000000% 0.000000% 01.~~568182~~162791% 0.~~893302~~902268% 0.000000% 0.000000% 0.000000% 0.~~893302~~902268%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 11,~~882~~679.1674

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 519,224,746.00 91.21426445% ~~317~~310,~~626~~913,~~678~~163.4629 94.~~31051186~~45897943% 94.~~993221~~880941% 0.000000% Class R-I 519,224,646.00 91.21424689% ~~317~~310,~~626~~913,~~678~~163.4629 94.~~31051186~~45897943% 0.000000% 0.000000% Class R-II 519,224,596.00 91.21423810% ~~317~~310,~~626~~913,~~678~~163.4629 94.~~31051186~~45897943% 0.000000% 0.000000% Class R-III 519,224,546.00 91.21422932% ~~317~~310,~~626~~913,~~678~~163.4629 94.~~31051186~~45897943% 0.000000% 0.000000% Class 2A1 271,447,746.00 47.68629901% ~~173~~170,~~894~~726,~~903~~686.2311 51.~~63331183~~86872232% 42.~~677200~~590257% ~~852~~831.~~388391~~993812% Class B-1 11,100,246.00 1.95002411% 10,~~960~~952,~~491~~185.5760 3.~~25441671~~32739940% 1.~~752362~~791660% 34.999789% Class B-2 6,546,446.00 1.15004006% 6,~~464~~459,~~024~~126.8737 1.~~91931451~~96235656% 1.~~335102~~365043% 26.665892% Class B-3 3,415,546.00 0.60002247% 3,~~372~~369,~~543~~987.5681 1.~~00138411~~02384089% 0.~~917930~~938516% 18.333752% Class B-4 1,992,446.00 0.35002087% 1,~~967~~965,~~360~~869.6980 0.~~58415368~~59725376% 0.~~417230~~426587% 8.333311% Class B-5 1,138,646.00 0.20003045% 1,~~124~~123,~~310~~458.2119 0.~~33383301~~34131946% 0.~~250321~~255934% 4.999635% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~333833~~341319% 6.667621% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~303790~~304831% Weighted Average Net Coupon 5.~~021788~~022982% Weighted Average Pass-Through Rate 5.~~021787~~022982% Weighted Average Maturity(Stepdown Calculation ) ~~341~~340 Beginning Scheduled Collateral Loan Count ~~748~~741 Number Of Loans Paid In Full 718 Ending Scheduled Collateral Loan Count ~~741~~723 Beginning Scheduled Collateral Balance ~~340~~336,~~521~~788,~~216~~203.3034 Ending Scheduled Collateral Balance ~~336~~329,~~788~~151,~~203~~516.3454 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~336~~329,~~978~~345,~~245~~962.5344 Monthly P &I Constant 1,~~753~~737,~~547~~333.5019 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 58,~~075~~963,~~097~~385.8856 Ending Scheduled Balance for Premium Loans ~~336~~329,~~788~~151,~~203~~516.3454 Scheduled Principal 248,~~503~~496.2904 Unscheduled Principal 37,~~484~~388,~~509~~190.6776

Miscellaneous Reporting Senior Percentage Group 1 92.~~913340~~679714% Senior Percentage Group 2 95.~~090395~~000893% Senior Percentage Group 3 95.~~277673~~276389% Senior Prepayment Percentage Group 1 100.000000% Senior Prepayment Percentage Group 2 100.000000% Senior Prepayment Percentage Group 3 100.000000% Subordinate Percentage Group 1 7.~~086660~~320286% Subordinate Percentage Group 2 4.~~909605~~999107% Subordinate Percentage Group 3 4.~~722327~~723611% Subordinate Prepay Percent Group 1 0.000000% Subordinate Prepay Percent Group 2 0.000000% Subordinate Prepay Percent Group 3 0.000000% Average Loss Severity Group 1 0.00 Average Loss Severity Group 2 0.00 Average Loss Severity Group 3 0.00

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~715833~~715146 5.~~215595~~213645 5.~~462429~~462506 Weighted Average Net Rate 4.~~368949~~369172 4.~~931251~~929198 5.~~191026~~191087 Weighted Average Maturity ~~342~~341 341 342 ~~343~~ Beginning Loan Count 5755 ~~339~~334 352 Loans Paid In Full 2 58 08 Ending Loan Count 5553 ~~334~~326 ~~352~~344 Beginning Scheduled Balance 2120,~~384~~674,~~552~~993.1938 ~~154~~151,~~169~~295,~~857~~183.8779 164,~~966~~818,~~806~~026.2417 Ending scheduled Balance 2019,~~674~~749,~~993~~791.3848 ~~151~~147,~~295~~744,~~183~~075.7929 ~~164~~161,~~818~~657,~~026~~649.1777 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant ~~112~~108,~~003~~972.2485 ~~786~~773,~~643~~562.1562 854,~~901~~797.1172 Scheduled Principal 27,~~964~~734.9284 116,~~570~~229.2076 ~~103~~104,~~968~~531.1744 Unscheduled Principal ~~681~~897,~~593~~467.8906 23,~~758~~434,~~103~~878.8874 443,~~811~~055,844.9096 Scheduled Interest 8481,~~038~~238.3201 ~~670~~657,~~072~~332.9586 750,~~932~~266.9428 Servicing Fees 65,~~181~~960.6384 3635,~~531~~862.0791 37,~~310~~279.5207 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 7775,~~856~~277.6917 ~~633~~621,~~541~~469.8895 ~~713~~712,~~622~~987.4221 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.~~368950~~369172 4.~~931251~~929198 5.~~191026~~191087

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 5.~~303790~~304831 Weighted Average Net Rate 5.~~021788~~022982 Weighted Average Maturity ~~341~~340 Beginning Loan Count ~~748~~741 Loans Paid In Full 718 Ending Loan Count ~~741~~723 Beginning Scheduled Balance ~~340~~336,~~521~~788,~~216~~203.3034 Ending scheduled Balance ~~336~~329,~~788~~151,~~203~~516.3454 Record Date 1011/3130/2004 Principal And Interest Constant 1,~~753~~737,~~547~~333.5019 Scheduled Principal 248,~~503~~496.2904 Unscheduled Principal 37,~~484~~388,~~509~~190.6776 Scheduled Interest 1,~~505~~488,~~044~~837.2115 Servicing Fees 8079,~~023~~102.2282 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 1,~~425~~409,~~020~~734.9933 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 5.~~021787~~022982

Filing Compare · BEAR STEARNS ARM TRUST 2003-4