8-K 1 bst01007_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 2001-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-51279-17 Pooling and Servicing Agreement) (Commission 90-0031687 (State or other File Number) 90-0042382 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 December 27, 2004 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2001-7 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 2001-7 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 2001-7 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 2001-7 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: 2001-7 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 07384MGL0 SEN 4.~~27954~~30441% 4,~~298~~273,~~717~~977.2759 15,330.4679 2427,~~739~~158.6822 II-A 07384MGP1 SEN 3.~~38090~~38627% 4140,~~356~~519,~~058~~107.4464 ~~116~~114,~~517~~340.3142 ~~836~~457,~~950~~352.8054 III-A 07384MGU0 SEN 4.~~04787~~07173% 2220,~~283~~997,~~370~~136.5734 7571,~~166~~245.8655 1263,~~286,234~~624.2342 IV-A 07384MGQ9 SEN 7.~~13876~~13894% 1,~~475~~473,~~659~~642.0009 8,~~778~~766.6487 2,~~016~~029.9142 B-1 07384MGR7 SUB 4.~~15581~~18010% 3,~~329~~198,~~058~~851.0814 11,~~529~~142.1093 ~~130~~34,~~206~~419.9454 B-2 07384MGS5 SUB 4.~~15581~~18010% 1,~~958~~881,~~371~~775.5827 6,~~782~~555.1800 7620,~~596~~247.3184 B-3 07384MGT3 SUB 4.~~15581~~18010% 1,~~370~~317,~~820~~204.0419 4,~~747~~588.3837 5314,~~615~~173.8508 B-4 07384MGV8 SUB 4.~~15581~~18010% ~~685~~658,~~443~~634.4118 2,~~373~~294.8130 267,~~809~~086.2388 B-5 07384MGW6 SUB 4.~~15581~~18010% ~~587~~564,~~484~~506.7792 21,~~034~~966.5641 226,~~977~~074.8508 B-6 07384MGX4 SUB 4.~~15581~~18010% ~~881~~846,~~422~~948.4706 32,~~052~~950.5227 349,~~474~~113.4114 R-I 07384MGM8 RES 6.~~36481~~36485% 0.00 0.00 0.00 R-II 07384MGN6 RES 6.~~36481~~36485% 0.00 0.00 0.00 Totals 7875,~~226~~731,~~405~~783.6342 ~~246~~239,~~312~~180.8291 2841,~~494,622~~279.2116

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 4,~~273~~246,~~977~~819.5936 4042,~~070~~489.1401 0.00 II-A 0.00 40,~~519~~061,~~107~~755.6411 ~~953~~571,~~468~~692.1196 0.00 III-A 0.00 20,~~997~~733,~~136~~511.3492 1334,~~361,401~~869.0997 0.00 IV-A 0.00 1,~~473~~471,~~642~~612.0967 10,~~795~~796.5529 0.00 B-1 0.00 3,~~198~~164,~~851~~431.1460 ~~141~~45,~~736~~562.0447 0.00 B-2 0.00 1,~~881~~861,~~775~~527.2743 8326,~~378~~802.4984 0.00 B-3 0.00 1,~~317~~303,~~204~~031.1912 5818,~~363~~761.2345 0.00 B-4 0.00 ~~658~~651,~~634~~547.18 29 9,~~183~~381.0418 0.00 B-5 0.00 ~~564~~558,~~506~~432.9284 258,~~012~~040.4149 0.00 B-6 0.00 ~~846~~837,~~948~~834.0692 3712,~~526~~063.9341 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 7574,~~731~~890,~~783~~504.4226 21,~~740~~080,~~935~~460.0307 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 16,941,900.00 4,~~298~~273,~~717~~977.2759 20,~~875~~836.0562 36,~~864~~321.6361 0.00 0.00 II-A 59,270,500.00 4140,~~356~~519,~~058~~107.4464 0.00 ~~836~~457,~~950~~352.8054 0.00 0.00 III-A 162,837,100.00 2220,~~283~~997,~~370~~136.5734 4644,~~310~~173.8492 1219,~~239,923~~450.3850 0.00 0.00 IV-A 41,028,800.00 1,~~475~~473,~~659~~642.0009 1,~~925~~938.7224 91.18 0.00 0.00 B-1 4,985,500.00 3,~~329~~198,~~058~~851.0814 5,~~342~~160.4438 ~~124~~29,~~864~~259.5016 0.00 0.00 B-2 2,932,800.00 1,~~958~~881,~~371~~775.5827 3,~~142~~035.7768 7317,~~453~~212.5417 0.00 0.00 B-3 2,052,900.00 1,~~370~~317,~~820~~204.0419 2,~~199~~124.8891 5112,~~415~~048.9717 0.00 0.00 B-4 1,026,500.00 ~~685~~658,~~443~~634.4118 1,~~099~~062.9951 256,~~709~~024.2438 0.00 0.00 B-5 879,800.00 ~~587~~564,~~484~~506.7792 ~~942~~910.7966 225,~~035~~163.0642 0.00 0.00 B-6 1,319,993.00 ~~881~~846,~~422~~948.4706 1,~~414~~366.5030 337,~~059~~746.9184 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 Totals 293,275,893.00 7875,~~226~~731,~~405~~783.6342 8380,~~253~~609.9822 2760,~~411,368~~669.2197 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 2427,~~739~~158.6822 4,~~273~~246,~~977~~819.5936 0.~~25227263~~25066960 2427,~~739~~158.6822 II-A ~~836~~457,~~950~~352.8054 40,~~519~~061,~~107~~755.6411 0.~~68363027~~67591391 ~~836~~457,~~950~~352.8054 III-A 1263,~~286,234~~624.2342 20,~~997~~733,~~136~~511.3492 0.~~12894565~~12732671 1263,~~286,234~~624.2342 IV-A 2,~~016~~029.9142 1,~~473~~471,~~642~~612.0967 0.~~03591726~~03586780 2,~~016~~029.9142 B-1 ~~130~~34,~~206~~419.9454 3,~~198~~164,~~851~~431.1460 0.~~64163096~~63472703 ~~130~~34,~~206~~419.9454 B-2 7620,~~596~~247.3184 1,~~881~~861,~~775~~527.2743 0.~~64163096~~63472703 7620,~~596~~247.3184 B-3 5314,~~615~~173.8508 1,~~317~~303,~~204~~031.1912 0.~~64163096~~63472703 5314,~~615~~173.8508 B-4 267,~~809~~086.2388 ~~658~~651,~~634~~547.1829 0.~~64163096~~63472702 267,~~809~~086.2388 B-5 226,~~977~~074.8508 ~~564~~558,~~506~~432.9284 0.~~64163096~~63472703 226,~~977~~074.8508 B-6 349,~~474~~113.4114 ~~846~~837,~~948~~834.0692 0.~~64163072~~63472679 349,~~474~~113.4114 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 Totals 2841,~~494,622~~279.2116 7574,~~731~~890,~~783~~504.4226 0.~~25822710~~25535854 2841,~~494,622~~279.2116

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 16,941,900.00 ~~253~~252.~~73289123~~27262527 1.~~23215519~~22988685 0.~~22811078~~37313465 0.00000000 II-A 59,270,500.00 ~~697~~683.~~75113151~~63026531 0.00000000 147.~~12086620~~71636042 0.00000000 III-A 162,837,100.00 ~~136~~128.~~84455551~~94565391 0.~~28439981~~27127675 71.~~61450173~~34766893 0.00000000 IV-A 41,028,800.00 35.~~96641871~~91726031 0.~~04693581~~04724096 0.00222234 0.00000000 B-1 4,985,500.00 ~~667~~641.~~74808545~~63095778 1.~~07159563~~03507773 255.~~04553204~~86885167 0.00000000 B-2 2,932,800.00 ~~667~~641.~~74808374~~63095676 1.~~07159370~~03507911 255.~~04553328~~86885229 0.00000000 B-3 2,052,900.00 ~~667~~641.~~74808320~~63095621 1.~~07159628~~03507721 255.~~04553071~~86885382 0.00000000 B-4 1,026,500.00 ~~667~~641.~~74808573~~63095957 1.~~07159279~~03508037 255.~~04553337~~86885533 0.00000000 B-5 879,800.00 ~~667~~641.~~74809048~~63096158 1.~~07159582~~03507615 255.~~04553308~~86885656 0.00000000 B-6 1,319,993.00 ~~667~~641.~~74783654~~63072077 1.~~07159659~~03508125 255.~~04551918~~86884930 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 1.~~46026597~~60302091 ~~252~~250.~~27262527~~66960376 0.~~25227263~~25066960 1.~~46026597~~60302091 II-A 0.00000000 147.~~12086620~~71636042 ~~683~~675.~~63026531~~91390506 0.~~68363027~~67591391 147.~~12086620~~71636042 III-A 0.00000000 71.~~89890160~~61894568 ~~128~~127.~~94565391~~32670823 0.~~12894565~~12732671 71.~~89890160~~61894568 IV-A 0.00000000 0.~~04915840~~04946330 35.~~91726031~~86779701 0.~~03591726~~03586780 0.~~04915840~~04946330 B-1 0.00000000 266.~~11712767~~90392940 ~~641~~634.~~63095778~~72702838 0.~~64163096~~63472703 266.~~11712767~~90392940 B-2 0.00000000 266.~~11712698~~90392799 ~~641~~634.~~63095676~~72702878 0.~~64163096~~63472703 266.~~11712698~~90392799 B-3 0.00000000 266.~~11712699~~90393102 ~~641~~634.~~63095621~~72703006 0.~~64163096~~63472703 266.~~11712699~~90393102 B-4 0.00000000 266.~~11712616~~90392596 ~~641~~634.~~63095957~~72702387 0.~~64163096~~63472702 266.~~11712616~~90392596 B-5 0.00000000 266.~~11712889~~90393271 ~~641~~634.~~63096158~~72702887 0.~~64163096~~63472703 266.~~11712889~~90393271 B-6 0.00000000 266.~~11711577~~90393055 ~~641~~634.~~63072077~~72679022 0.~~64163072~~63472679 266.~~11711577~~90393055 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 16,941,900.00 4.~~27954~~30441% 4,~~298~~273,~~717~~977.2759 15,330.4679 0.00 0.00 II-A 59,270,500.00 3.~~38090~~38627% 4140,~~356~~519,~~058~~107.4464 ~~116~~114,~~517~~340.3142 0.00 0.00 III-A 162,837,100.00 4.~~04787~~07173% 2220,~~283~~997,~~370~~136.5734 7571,~~166~~245.8654 0.00 0.00 IV-A 41,028,800.00 7.~~13876~~13894% 1,~~475~~473,~~659~~642.0009 8,~~778~~766.6487 0.00 0.00 B-1 4,985,500.00 4.~~15581~~18010% 3,~~329~~198,~~058~~851.0814 11,~~529~~142.1093 0.00 0.00 B-2 2,932,800.00 4.~~15581~~18010% 1,~~958~~881,~~371~~775.5827 6,~~782~~555.1800 0.00 0.00 B-3 2,052,900.00 4.~~15581~~18010% 1,~~370~~317,~~820~~204.0419 4,~~747~~588.3837 0.00 0.00 B-4 1,026,500.00 4.~~15581~~18010% ~~685~~658,~~443~~634.4118 2,~~373~~294.8130 0.00 0.00 B-5 879,800.00 4.~~15581~~18010% ~~587~~564,~~484~~506.7792 21,~~034~~966.5641 0.00 0.00 B-6 1,319,993.00 4.~~15581~~18010% ~~881~~846,~~422~~948.4706 32,~~052~~950.5227 0.00 0.00 R-I 50.00 6.~~36481~~36485% 0.00 0.00 0.00 0.00 R-II 50.00 6.~~36481~~36485% 0.00 0.00 0.00 0.00 Totals 293,275,893.00 ~~246~~239,~~312~~180.8290 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 0.00 0.00 15,330.4679 0.00 4,~~273~~246,~~977~~819.5936 II-A (0.0001) 0.00 ~~116~~114,~~517~~340.3142 0.00 40,~~519~~061,~~107~~755.6411 III-A 0.00 0.00 7571,~~166~~245.8655 0.00 20,~~997~~733,~~136~~511.3492 IV-A 0.00 0.00 8,~~778~~766.6487 0.00 1,~~473~~471,~~642~~612.0967 B-1 0.00 0.00 11,~~529~~142.1093 0.00 3,~~198~~164,~~851~~431.1460 B-2 0.00 0.00 6,~~782~~555.1800 0.00 1,~~881~~861,~~775~~527.2743 B-3 0.00 0.00 4,~~747~~588.3837 0.00 1,~~317~~303,~~204~~031.1912 B-4 0.00 0.00 2,~~373~~294.8130 0.00 ~~658~~651,~~634~~547.1829 B-5 0.00 0.00 21,~~034~~966.5641 0.00 ~~564~~558,~~506~~432.9284 B-6 0.00 0.00 32,~~052~~950.5227 0.00 ~~846~~837,~~948~~834.0692 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 Totals (0.0001) 0.00 ~~246~~239,~~312~~180.8291 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 16,941,900.00 4.~~27954~~30441% ~~253~~252.~~73289123~~27262527 0.~~90488434~~90490382 0.00000000 0.00000000 II-A 59,270,500.00 3.~~38090~~38627% ~~697~~683.~~75113151~~63026531 1.~~96585671~~92912866 0.00000000 0.00000000 III-A 162,837,100.00 4.~~04787~~07173% ~~136~~128.~~84455551~~94565391 0.~~46160770~~43752646 0.00000000 0.00000000 IV-A 41,028,800.00 7.~~13876~~13894% 35.~~96641871~~91726031 0.~~21396287~~21367600 0.00000000 0.00000000 B-1 4,985,500.00 4.~~15581~~18010% ~~667~~641.~~74808545~~63095778 2.~~31252633~~23506770 0.00000000 0.00000000 B-2 2,932,800.00 4.~~15581~~18010% ~~667~~641.~~74808374~~63095676 2.~~31252728~~23506547 0.00000000 0.00000000 B-3 2,052,900.00 4.~~15581~~18010% ~~667~~641.~~74808320~~63095621 2.~~31252375~~23506747 0.00000000 0.00000000 B-4 1,026,500.00 4.~~15581~~18010% ~~667~~641.~~74808573~~63095957 2.~~31252801~~23507063 0.00000000 0.00000000 B-5 879,800.00 4.~~15581~~18010% ~~667~~641.~~74809048~~63096158 2.~~31252557~~23506479 0.00000000 0.00000000 B-6 1,319,993.00 4.~~15581~~18010% ~~667~~641.~~74783654~~63072077 2.~~31252741~~23506488 0.00000000 0.00000000 R-I 50.00 6.~~36481~~36485% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 6.~~36481~~36485% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 0.00000000 0.00000000 0.~~90488434~~90490382 0.00000000 ~~252~~250.~~27262527~~66960376 II-A (0.~~00000000~~00000017) 0.00000000 1.~~96585671~~92912866 0.00000000 ~~683~~675.~~63026531~~91390506 III-A 0.00000000 0.00000000 0.~~46160770~~43752652 0.00000000 ~~128~~127.~~94565391~~32670823 IV-A 0.00000000 0.00000000 0.~~21396287~~21367600 0.00000000 35.~~91726031~~86779701 B-1 0.00000000 0.00000000 2.~~31252633~~23506770 0.00000000 ~~641~~634.~~63095778~~72702838 B-2 0.00000000 0.00000000 2.~~31252728~~23506547 0.00000000 ~~641~~634.~~63095676~~72702878 B-3 0.00000000 0.00000000 2.~~31252375~~23506747 0.00000000 ~~641~~634.~~63095621~~72703006 B-4 0.00000000 0.00000000 2.~~31252801~~23507063 0.00000000 ~~641~~634.~~63095957~~72702387 B-5 0.00000000 0.00000000 2.~~31252557~~23506479 0.00000000 ~~641~~634.~~63096158~~72702887 B-6 0.00000000 0.00000000 2.~~31252741~~23506488 0.00000000 ~~641~~634.~~63072077~~72679022 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 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 21,~~770~~103,~~932~~904.7173 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9,~~086~~420.2097 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 21,~~780~~113,~~018~~325.9170 Withdrawals Reimbursement for Servicer Advances 149,~~524~~086.7120 Payment of Service Fee 2423,~~559~~779.1743 Payment of Interest and Principal 21,~~740~~080,~~935~~460.0307 Total Withdrawals (Pool Distribution Amount) 21,~~780~~113,~~018~~325.9170 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2423,~~559~~779.1743 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2423,~~559~~779.1743

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 1 0 0 1 75,~~553~~475.2507 0.00 0.00 75,~~553~~475.2507 30 Days 31 0 0 0 3 1 690,~~105,072~~438.2478 0.00 0.00 0.00 1690,~~105,072~~438.2478 60 Days 1 0 0 0 1 ~~676~~318,~~421~~987.1287 0.00 0.00 0.00 ~~676~~318,~~421~~987.1287 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 10 0 0 0 10 ~~107,887~~0.6300 0.00 0.00 0.00 ~~107,887~~0.6300 150 Days 01 0 0 0 01 0107,887.0063 0.00 0.00 0.00 0107,887.0063 180+ Days 0 0 1 0 1 0.00 0.00 462,078.23 0.00 462,078.23 Totals 53 1 1 0 75 1,~~889~~117,~~380~~314.9928 75,~~553~~475.2507 462,078.23 0.00 21,~~427~~654,~~012~~867.4758 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.~~507614~~512821% 0.000000% 0.000000% 0.~~507614~~512821% 0.~~099669~~100680% 0.000000% 0.000000% 0.~~099669~~100680% 30 Days 10.~~522843~~512821% 0.000000% 0.000000% 0.000000% 10.~~522843~~512821% 10.~~457801~~921015% 0.000000% 0.000000% 0.000000% 10.~~457801~~921015% 60 Days 0.~~507614~~512821% 0.000000% 0.000000% 0.000000% 0.~~507614~~512821% 0.~~892328~~425516% 0.000000% 0.000000% 0.000000% 0.~~892328~~425516% 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.~~507614~~000000% 0.000000% 0.000000% 0.000000% 0.~~507614~~000000% 0.~~142324~~000000% 0.000000% 0.000000% 0.000000% 0.~~142324~~000000% 150 Days 0.~~000000~~512821% 0.000000% 0.000000% 0.000000% 0.~~000000~~512821% 0.~~000000~~143917% 0.000000% 0.000000% 0.000000% 0.~~000000~~143917% 180+ Days 0.000000% 0.000000% 0.~~507614~~512821% 0.000000% 0.~~507614~~512821% 0.000000% 0.000000% 0.~~609569~~616392% 0.000000% 0.~~609569~~616392% Totals 21.~~538071~~538462% 0.~~507614~~512821% 0.~~507614~~512821% 0.000000% 32.~~553299~~564103% 21.~~492454~~490449% 0.~~099669~~100680% 0.~~609569~~616392% 0.000000% 32.~~201692~~207521%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 0690,438.0078 0.00 0.00 0.00 0690,438.0078 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 10 0 0 0 10 ~~107,887~~0.6300 0.00 0.00 0.00 ~~107,887~~0.6300 150 Days 01 0 0 0 01 0107,887.0063 0.00 0.00 0.00 0107,887.0063 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 12 0 0 0 12 ~~107~~798,~~887~~326.6341 0.00 0.00 0.00 ~~107~~798,~~887~~326.6341 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~000000~~125000% 0.000000% 0.000000% 0.000000% 03.~~000000~~125000% 014.~~000000~~376906% 0.000000% 0.000000% 0.000000% 014.~~000000~~376906% 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 30.~~125000~~000000% 0.000000% 0.000000% 0.000000% 30.~~125000~~000000% 20.~~234299~~000000% 0.000000% 0.000000% 0.000000% 20.~~234299~~000000% 150 Days 03.~~000000~~125000% 0.000000% 0.000000% 0.000000% 03.~~000000~~125000% 02.~~000000~~246528% 0.000000% 0.000000% 0.000000% 02.~~000000~~246528% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 36.~~125000~~250000% 0.000000% 0.000000% 0.000000% 36.~~125000~~250000% 216.~~234299~~623435% 0.000000% 0.000000% 0.000000% 216.~~234299~~623435% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 20 0 0 0 20 ~~773,559~~0.8200 0.00 0.00 0.00 ~~773,559~~0.8200 60 Days 1 0 0 0 1 ~~676~~318,~~421~~987.1287 0.00 0.00 0.00 ~~676~~318,~~421~~987.1287 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 31 0 0 0 3 1 318,~~449,980~~987.9487 0.00 0.00 0.00 1318,~~449,980~~987.9487 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 20.~~197802~~000000% 0.000000% 0.000000% 0.000000% 20.~~197802~~000000% 10.~~802979~~000000% 0.000000% 0.000000% 0.000000% 10.~~802979~~000000% 60 Days 1.~~098901~~111111% 0.000000% 0.000000% 0.000000% 1.~~098901~~111111% 10.~~576572~~751971% 0.000000% 0.000000% 0.000000% 10.~~576572~~751971% 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 31.~~296703~~111111% 0.000000% 0.000000% 0.000000% 31.~~296703~~111111% 30.~~379552~~751971% 0.000000% 0.000000% 0.000000% 30.~~379552~~751971% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group III No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 ~~331,512~~0.4200 0.00 0.00 0.00 ~~331,512~~0.4200 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 1 0 1 0.00 0.00 462,078.23 0.00 462,078.23 Totals 10 0 1 0 21 ~~331,512~~0.4200 0.00 462,078.23 0.00 ~~793~~462,~~590~~078.6523 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~538462~~000000% 0.000000% 0.000000% 0.000000% 10.~~538462~~000000% 10.~~284799~~000000% 0.000000% 0.000000% 0.000000% 10.~~284799~~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% 1.~~538462~~562500% 0.000000% 1.~~538462~~562500% 0.000000% 0.000000% 1.~~790815~~813690% 0.000000% 1.~~790815~~813690% Totals 10.~~538462~~000000% 0.000000% 1.~~538462~~562500% 0.000000% 31.~~076923~~562500% 10.~~284799~~000000% 0.000000% 1.~~790815~~813690% 0.000000% 31.~~075614~~813690% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group IV 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 1 0 0 1 75,~~553~~475.2507 0.00 0.00 75,~~553~~475.2507 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 1 0 0 1 0.00 75,~~553~~475.2507 0.00 0.00 75,~~553~~475.2507 0-29 Days 11.111111% 0.000000% 0.000000% 11.111111% 3.~~331054~~332162% 0.000000% 0.000000% 3.~~331054~~332162% 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% 11.111111% 0.000000% 0.000000% 11.111111% 0.000000% 3.~~331054~~332162% 0.000000% 0.000000% 3.~~331054~~332162%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9,~~086~~420.2097

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 276,333,993.00 94.22322107% 7170,~~457~~643,~~805~~684.8390 94.~~35642816~~32929527% 5.~~643572~~670705% 0.000000% Class 2A 217,063,493.00 74.01341132% 30,~~938~~581,~~698~~929.1979 40.~~85299037~~83552393% 53.~~503438~~493771% 478.~~501318~~246231% Class 3A 54,226,393.00 18.48989102% 9,~~941~~848,~~561~~417.8587 13.~~12733096~~15042270% 27.~~725659~~685101% 247.~~960974~~510971% Class R-I 13,197,543.00 4.50004358% 8,~~467~~376,~~919~~805.7620 11.~~18146091~~18540365% 0.000000% 0.000000% Class R-II 13,197,493.00 4.50002653% 8,~~467~~376,~~919~~805.7620 11.~~18146091~~18540365% 0.000000% 0.000000% Class B-1 8,211,993.00 2.80009138% 5,~~269~~212,~~068~~373.6260 6.~~95753933~~95999266% 4.~~223922~~225411% 37.776115% Class B-2 5,279,193.00 1.80007738% 3,~~387~~350,~~293~~846.3517 4.~~47275001~~47432716% 2.~~484789~~485666% 22.222403% Class B-3 3,226,293.00 1.10008803% 2,~~070~~047,~~089~~815.1605 2.~~73344832~~73441215% 1.~~739302~~739915% 15.555228% Class B-4 2,199,793.00 0.75007631% 1,~~411~~396,~~454~~267.9876 1.~~86375511~~86441228% 0.~~869693~~870000% 7.777993% Class B-5 1,319,993.00 0.45008575% ~~846~~837,~~948~~834.0692 1.~~11835219~~11874653% 0.~~745403~~745666% 6.666418% Class B-6 0.00 0.00000000% 0.00 0.00000000% 1.~~118352~~118747% 10.001843% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 4.~~155200~~166710% Weighted Average Net Coupon 3.~~778461~~789916% Weighted Average Pass-Through Rate 3.~~778461~~789916% Weighted Average Maturity (Stepdown Calculation ) ~~318~~317 Beginning Scheduled Collateral Loan Count ~~201~~197 Number Of Loans Paid In Full 42 Ending Scheduled Collateral Loan Count ~~197~~195 Beginning Scheduled Collateral Balance 7875,~~226~~731,~~405~~783.6343 Ending Scheduled Collateral Balance 7574,~~731~~890,~~783~~504.4327 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 7574,~~804~~964,~~061~~960.0400 Monthly P &I Constant ~~354~~343,~~125~~569.9755 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2959,~~365,734~~848.8922 Ending Scheduled Balance for Premium Loans 7574,~~731~~890,~~783~~504.4327 Scheduled Principal 8380,~~253~~609.9821 Unscheduled Principal 2760,~~411,368~~669.2295

Group Level Collateral Statement Group Group I Group II Group III Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 4.~~654545~~679410 3.~~755902~~761267 4.~~422872~~446729 Weighted Average Net Rate 4.~~279545~~304409 3.~~380902~~386267 4.~~047871~~071730 Weighted Average Maturity ~~251~~250 ~~263~~262 ~~318~~317 Beginning Loan Count 32 9291 6865 Loans Paid In Full 0 1 31 Ending Loan Count 32 9190 6564 Beginning Scheduled Balance 4,~~838,~~810,962.6465 4342,~~790~~904,~~760~~536.1967 2725,~~328~~751,~~546~~096.9855 Ending scheduled Balance 4,~~810~~780,~~962~~392.6525 42,~~904~~420,~~536~~259.6701 25,~~751~~427,~~096~~784.5594 Record Date 1011/3130/2004 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 42,~~266~~214.5293 ~~137~~134,~~061~~479.50 ~~157~~149,~~521~~598.6380 Scheduled Principal 23,~~497~~454.8054 0.00 5654,~~796~~175.0834 Unscheduled Principal 47,~~350~~115.1986 ~~886~~484,~~223~~277.5266 1269,~~520,654~~136.3527 Scheduled Interest 18,~~768~~760.7239 ~~137~~134,~~061~~479.50 ~~100~~95,~~725~~423.5546 Servicing Fees 1,~~512~~503.1343 13,~~684~~407.6166 8,~~540~~047.1821 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 17,256.5996 ~~123~~121,~~376~~071.8984 9287,~~185~~376.3725 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.~~279545~~304410 3.~~380902~~386267 4.~~047872~~071729

Group Level Collateral Statement Group Group IV Total Collateral Description Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 7.~~573758~~573937 4.~~155200~~166710 Weighted Average Net Rate 7.~~138761~~138937 3.~~778461~~789916 Weighted Average Maturity ~~318~~317 ~~318~~317 Beginning Loan Count 9 ~~201~~197 Loans Paid In Full 0 42 Ending Loan Count 9 ~~197~~195 Beginning Scheduled Balance 2,~~268~~265,~~287~~187.8256 7875,~~226~~731,~~405~~783.6343 Ending scheduled Balance 2,~~265~~262,~~187~~068.5607 7574,~~731~~890,~~783~~504.4327 Record Date 1011/3130/2004 1011/3130/2004 Principal And Interest Constant 17,276.32 ~~354~~343,~~125~~569.9755 Scheduled Principal 2,~~960~~979.1033 8380,~~253~~609.9821 Unscheduled Principal 140.16 2760,~~411,368~~669.2295 Scheduled Interest 14,~~316~~296.2299 ~~270~~262,~~871~~960.9934 Servicing Fees ~~822~~821.2513 2423,~~559~~779.1743 Master Servicing Fees 0.00 0.00 Trustee Fee 0.00 0.00 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 13,~~493~~475.9786 ~~246~~239,~~312~~180.8291 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~138758~~138937 3.~~778461~~789916

Filing Compare · BEAR STEARNS ARM TRUST MORTGAGE PASS THROUGH CERT SER 2001-7