8-K 1 bsa04sd1_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 ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-SD1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-91334-25 54-2147339 Pooling and Servicing Agreement) (Commission 54-2147340 (State or other File Number) IRS EIN jurisdiction 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 ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2004-SD1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2004-SD1 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 ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2004-SD1 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 Asset Backed Certificates, Series 2004-SD1 Trust, relating to the December 27, 2004 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Mortgage~~Asset ~~Pass-Through~~Backed Certificates Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~BSA~~Bear Stearns Asset Backed Securities Asset Backed Certificates Series: 2004-SD1 Contact: CTSLink Customer Service Wells Fargo Bank, N.A. Corporate Trust Services 9062 Old Annapolis Road Columbia, MD 21045-1951 Telephone: (301) 815-6600 Fax: (301) 815-6600 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 07384YSD9 SEN 2.~~10250~~35000% 7976,~~923~~402,~~941~~349.6665 ~~149~~154,~~368~~608.9764 34,~~521~~535,~~592~~382.0193 A-2 07384YSE7 SEN 2.~~38250~~63000% 80,997,000.00 ~~171~~183,~~533~~435.6571 0.00 M-1 07384YSF4 MEZ 4.98000% 8,204,000.00 34,046.60 0.00 M-2 07384YSG2 MEZ 5.32000% 6,541,000.00 28,998.43 0.00 M-3 07384YSH0 MEZ 5.50000% 5,765,000.00 26,422.92 0.00 B 07384YSJ6 SUB 5.50000% 2,217,006.00 10,161.28 0.00 BIO 07384YSU1 IO 0.00000% 0.00 ~~500~~462,~~399~~847.9369 0.00 OC BSA03S3OC OC 0.00000% 2,217,280.07 0.00 0.00 R-1 07384YSM9 RES 0.00000% 0.00 0.00 0.00 R-2 07384YSN7 RES 0.00000% 0.00 0.00 0.00 Totals ~~185~~182,~~865~~343,~~227~~635.7372 ~~920~~900,~~931~~521.7827 34,~~521~~535,~~592~~382.0193

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 7671,~~402~~866,~~349~~966.6572 34,~~670~~689,~~960~~991.9857 0.00 A-2 0.00 80,997,000.00 ~~171~~183,~~533~~435.6571 0.00 M-1 0.00 8,204,000.00 34,046.60 0.00 M-2 0.00 6,541,000.00 28,998.43 0.00 M-3 0.00 5,765,000.00 26,422.92 0.00 B 0.00 2,217,006.00 10,161.28 0.00 BIO 0.00 0.00 ~~500~~462,~~399~~847.9369 0.00 OC 0.00 2,217,280.07 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~182~~177,~~343~~808,~~635~~252.7279 45,~~442~~435,~~523~~904.7920 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) A-1 118,004,000.00 7976,~~923~~402,~~941~~349.6665 0.00 34,~~521~~535,~~592~~382.0193 0.00 0.00 A-2 80,997,000.00 80,997,000.00 0.00 0.00 0.00 0.00 M-1 8,204,000.00 8,204,000.00 0.00 0.00 0.00 0.00 M-2 6,541,000.00 6,541,000.00 0.00 0.00 0.00 0.00 M-3 5,765,000.00 5,765,000.00 0.00 0.00 0.00 0.00 B 2,217,006.00 2,217,006.00 0.00 0.00 0.00 0.00 BIO 0.00 0.00 0.00 0.00 0.00 0.00 OC 0.89 2,217,280.07 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 Totals 221,728,106.89 ~~185~~182,~~865~~343,~~227~~635.7372 0.00 34,~~521~~535,~~592~~382.0193 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 A-1 34,~~521~~535,~~592~~382.0193 7671,~~402~~866,~~349~~966.6572 0.~~64745559~~60902145 34,~~521~~535,~~592~~382.0193 A-2 0.00 80,997,000.00 1.00000000 0.00 M-1 0.00 8,204,000.00 1.00000000 0.00 M-2 0.00 6,541,000.00 1.00000000 0.00 M-3 0.00 5,765,000.00 1.00000000 0.00 B 0.00 2,217,006.00 1.00000000 0.00 BIO 0.00 0.00 0.00000000 0.00 OC 0.00 2,217,280.0700 491,325.92134831 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 34,~~521~~535,~~592~~382.0193 ~~182~~177,~~343~~808,~~635~~252.7279 0.~~82237493~~80192022 34,~~521~~535,~~592~~382.0193

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 118,004,000.00 ~~677~~647.~~29858022~~45559176 0.00000000 2938.~~84298846~~43414571 0.00000000 A-2 80,997,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 8,204,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 6,541,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,765,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 2,217,006.00 1000.00000000 0.00000000 0.00000000 0.00000000 BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.~~89 491325921~~8491325921.34831000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 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 A-1 0.00000000 2938.~~84298846~~43414571 ~~647~~609.~~45559176~~02144605 0.~~64745559~~60902145 2938.~~84298846~~43414571 A-2 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.~~00000000 91~~0000000091,325,921.34831000 2491325.92134831 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 (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 A-1 118,004,000.00 2.~~10250~~35000% 7976,~~923~~402,~~941~~349.6665 ~~149~~154,~~368~~608.9764 0.00 0.00 A-2 80,997,000.00 2.~~38250~~63000% 80,997,000.00 ~~171~~183,~~533~~435.6571 0.00 0.00 M-1 8,204,000.00 4.98000% 8,204,000.00 34,046.60 0.00 0.00 M-2 6,541,000.00 5.32000% 6,541,000.00 28,998.43 0.00 0.00 M-3 5,765,000.00 5.50000% 5,765,000.00 26,422.92 0.00 0.00 B 2,217,006.00 5.50000% 2,217,006.00 10,161.28 0.00 0.00 BIO 0.00 0.00000% ~~185~~182,~~865~~343,~~227~~635.7372 0.00 0.00 0.00 OC 0.89 0.00000% 2,217,280.07 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 221,728,106.89 ~~420~~437,~~531~~673.8558 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 A-1 0.00 0.00 ~~149~~154,~~368~~608.9764 0.00 7671,~~402~~866,~~349~~966.6572 A-2 0.00 0.00 ~~171~~183,~~533~~435.6571 0.00 80,997,000.00 M-1 0.00 0.00 34,046.60 0.00 8,204,000.00 M-2 0.00 0.00 28,998.43 0.00 6,541,000.00 M-3 0.00 0.00 26,422.92 0.00 5,765,000.00 B 0.00 0.00 10,161.28 0.00 2,217,006.00 BIO 0.00 0.00 ~~500~~462,~~399~~847.9369 0.00 ~~182~~177,~~343~~808,~~635~~252.7279 OC 0.00 0.00 0.00 0.00 2,217,280.07 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~920~~900,~~931~~521.7827 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 A-1 118,004,000.00 2.~~10250~~35000% ~~677~~647.~~29858022~~45559176 1.~~26579582~~31019830 0.00000000 0.00000000 A-2 80,997,000.00 2.~~38250~~63000% 1000.00000000 2.~~11777782~~26472227 0.00000000 0.00000000 M-1 8,204,000.00 4.98000% 1000.00000000 4.15000000 0.00000000 0.00000000 M-2 6,541,000.00 5.32000% 1000.00000000 4.43333282 0.00000000 0.00000000 M-3 5,765,000.00 5.50000% 1000.00000000 4.58333391 0.00000000 0.00000000 B 2,217,006.00 5.50000% 1000.00000000 4.58333446 0.00000000 0.00000000 BIO 0.00 0.00000% ~~838~~822.~~25778411~~37529790 0.00000000 0.00000000 0.00000000 OC 0.89 0.~~00000% 491325921~~00000491325921.34831000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 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 A-1 0.00000000 0.00000000 1.~~26579582~~31019830 0.00000000 ~~647~~609.~~45559176~~02144605 A-2 0.00000000 0.00000000 2.~~11777782~~26472227 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 4.15000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.43333282 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 4.58333391 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.58333446 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 2.~~25681878~~08745704 0.00000000 ~~822~~801.~~37529790~~92058407 OC 0.00000000 0.00000000 0.00000000 0.~~00000000 491325921~~0000000491325921.34831000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 45,~~488~~476,~~911~~784.7144 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~126~~135,~~557~~441.1145 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 45,~~615~~612,~~468~~225.8289 Withdrawals Reimbursement for Servicer Advances ~~122~~126,~~199~~557.1311 Payment of Service Fee 5049,~~745~~764.9058 Payment of Interest and Principal 45,~~442~~435,~~523~~904.7920 Total Withdrawals (Pool Distribution Amount) 45,~~615~~612,~~468~~225.8289 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5049,~~745~~764.9058 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5049,~~745~~764.9058

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 25 0 0 25 2,~~661~~679,~~048~~715.1967 0.00 0.00 2,~~661~~679,~~048~~715.1967 30 Days 4746 4 0 0 5150 56,~~438~~267,~~635~~466.5740 ~~466~~394,~~718~~337.4314 0.00 0.00 56,~~905~~661,~~354~~803.0054 60 Days 3729 53 2 0 4434 43,~~436~~667,~~148~~503.1827 ~~606~~417,~~297~~903.8948 ~~308~~90,~~853~~594.7024 0.00 54,~~351~~176,~~299~~000.7799 90 Days 68 13 414 0 1125 ~~606~~727,~~661~~706.2921 ~~124~~306,~~593~~842.1567 ~~494~~1,~~985~~681,007.0096 0.00 12,~~226~~715,~~239~~556.4484 120 Days 36 12 94 0 1312 ~~397~~532,~~586~~739.8053 90154,~~764~~195.9581 ~~920~~475,~~991~~141.7467 0.00 1,~~409~~162,~~343~~077.4901 150 Days 0 32 06 21 59 0.00 ~~378~~166,~~315~~959.4674 0570,384.0022 ~~573~~120,~~891~~314.1317 ~~952~~857,~~206~~658.5913 180+ Days 2 46 1411 48 2427 203,521.13 ~~457~~759,~~947~~325.1727 21,~~270~~846,~~036~~304.2332 ~~513~~1,~~352~~419,100.0016 34,~~444~~228,~~856~~250.5388 Totals 9591 4345 2937 69 ~~173~~182 11,~~082~~398,~~552~~936.9754 4,~~785~~879,~~685~~279.2478 34,~~994~~663,~~866~~432.6741 1,~~087~~539,~~243~~414.1333 2022,~~950~~481,~~348~~063.0106 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 12.~~963865~~004812% 0.000000% 0.000000% 12.~~963865~~004812% 1.~~456139~~503671% 0.000000% 0.000000% 1.~~456139~~503671% 30 Days 3.~~692066~~688853% 0.~~314218~~320770% 0.000000% 0.000000% 4.~~006284~~009623% 23.~~976048~~516868% 0.~~255391~~221275% 0.000000% 0.000000% 3.~~231439~~738142% 60 Days 2.~~906520~~325581% 0.~~392773~~240577% 0.~~157109~~160385% 0.000000% 32.~~456402~~726544% 2.~~427482~~057949% 0.~~331769~~234498% 0.~~169006~~050835% 0.000000% 2.~~928258~~343282% 90 Days 0.~~471328~~641540% 0.~~078555~~240577% 01.~~314218~~122694% 0.000000% 02.~~864101~~004812% 0.~~331968~~408338% 0.~~068178~~172179% 0.~~270858~~943265% 0.000000% 01.~~671004~~523782% 120 Days 0.~~235664~~481155% 0.~~078555~~160385% 0.~~706991~~320770% 0.000000% 10.~~021210~~962310% 0.~~217561~~298937% 0.~~049667~~086524% 0.~~503971~~266617% 0.000000% 0.~~771200~~652077% 150 Days 0.000000% 0.~~235664~~160385% 0.~~000000~~481155% 0.~~157109~~080192% 0.~~392773~~721732% 0.000000% 0.~~207016~~093686% 0.~~000000~~320060% 0.~~314036~~067512% 0.~~521052~~481258% 180+ Days 0.~~157109~~160385% 0.~~314218~~481155% 10.~~099764~~882117% 0.~~314218~~641540% 12.~~885310~~165196% 0.~~111368~~114202% 0.~~250591~~426081% 1.~~242175~~036018% 0.~~280909~~796301% 12.~~885042~~372601% Totals 7.~~462687~~297514% 3.~~377848~~608661% 2.~~278083~~967121% 0.~~471328~~721732% 1314.~~589945~~595028% 6.~~064428~~396293% 2.~~618751~~737914% 2.~~186011~~616795% 0.~~594945~~863813% 1112.~~464133~~614815%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~126~~135,~~557~~441.1145

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~273434~~253813% Weighted Average Net Coupon 5.~~945804~~926313% Weighted Average Pass-Through Rate 5.~~945803~~926313% Weighted Average Maturity(Stepdown Calculation ) ~~292~~291 Beginning Scheduled Collateral Loan Count 1,~~292~~273 Number Of Loans Paid In Full 1926 Ending Scheduled Collateral Loan Count 1,~~273~~247 Beginning Scheduled Collateral Balance ~~185~~182,~~865~~343,~~227~~635.7372 Ending Scheduled Collateral Balance ~~182~~177,~~343~~808,~~635~~252.7279 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~182~~178,~~746~~211,~~895~~601.1937 Monthly P &I Constant 1,~~320~~297,~~146~~283.7029 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 ~~182~~177,~~343~~808,~~635~~252.7279 Scheduled Principal ~~348~~346,~~469~~997.0344 Unscheduled Principal 34,~~173~~188,~~122~~385.9849 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,217,280.07 Overcollateralized Amount 2,217,280.07 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~500~~462,~~399~~847.9369

Miscellaneous Reporting Three month rolling delinquency % 78.~~767242~~337959% Trigger Event NO Yield Maintenance 0.00

Filing Compare · BEAR STEARNS ASSET-BACKED CERTIFICATES SERIES 2004-SD1