8-K 1 bsa04sd3_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-SD3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-11 54-2161181 Pooling and Servicing Agreement) (Commission 54-2161182 (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-SD3 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-SD3 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-SD3 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-SD3 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-SD3 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 A-1 073879GA0 SEN 2.~~16250~~41000% 9389,~~528~~086,~~243~~329.5906 ~~179~~184,~~782~~878.0788 45,~~441~~500,~~914~~467.5374 A-2 073879GJ1 SEN 2.~~32250~~57000% 50,355,000.00 ~~103~~111,~~955~~438.1041 0.00 A-3 073879GK8 SEN 2.~~50250~~75000% 44,646,000.00 99105,~~312~~724.5521 0.00 A-4 073879GL6 SEN 2.~~33250~~58000% 23,~~930~~366,~~740~~911.2802 4951,~~616~~913.4049 ~~563~~698,~~829~~195.2648 M-1 073879GB8 MEZ 2.~~62250~~87000% 9,227,000.00 2122,~~509~~803.1651 0.00 M-2 073879GC6 MEZ 3.~~18250~~43000% 8,230,000.00 2324,~~281~~308.7622 0.00 M-3 073879GD4 MEZ 5.50000% 6,733,000.00 30,859.58 0.00 B 073879GE2 SUB 5.50000% 3,242,000.00 14,859.17 0.00 B-IO 073879GH5 SUB 0.00000% 0.00 0.00 0.00 OC BSA04SD3OC OC 0.00000% ~~836~~1,~~888~~583,292.8287 0.00 0.00 R-1 073879GF9 RES 0.00000% 0.00 0.00 0.00 R-2 073879GG7 RES 0.00000% 0.00 0.00 0.00 Totals ~~240~~236,~~728~~469,~~872~~532.6995 ~~523~~546,~~175~~785.7947 56,~~005~~198,~~743~~663.7922

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 8983,~~086~~585,~~329~~861.0632 45,~~621~~685,~~696~~346.6062 0.00 A-2 0.00 50,355,000.00 ~~103~~111,~~955~~438.1041 0.00 A-3 0.00 44,646,000.00 99105,~~312~~724.5521 0.00 A-4 0.00 2322,~~366~~668,~~911~~715.0255 ~~613~~750,~~445~~108.6697 0.00 M-1 0.00 9,227,000.00 2122,~~509~~803.1651 0.00 M-2 0.00 8,230,000.00 2324,~~281~~308.7622 0.00 M-3 0.00 6,733,000.00 30,859.58 0.00 B 0.00 3,242,000.00 14,859.17 0.00 B-IO 0.00 0.00 0.00 0.00 OC 0.00 12,~~583~~282,~~292~~260.8749 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 ~~236~~230,~~469~~969,~~532~~837.9536 56,~~528~~745,~~919~~448.5869 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-1 101,952,000.00 9389,~~528~~086,~~243~~329.5906 0.00 45,~~441~~500,~~914~~467.5374 0.00 0.00 A-2 50,355,000.00 50,355,000.00 0.00 0.00 0.00 0.00 A-3 44,646,000.00 44,646,000.00 0.00 0.00 0.00 0.00 A-4 25,000,000.00 23,~~930~~366,~~740~~911.2802 0.00 ~~563~~698,~~829~~195.2648 0.00 0.00 M-1 9,227,000.00 9,227,000.00 0.00 0.00 0.00 0.00 M-2 8,230,000.00 8,230,000.00 0.00 0.00 0.00 0.00 M-3 6,733,000.00 6,733,000.00 0.00 0.00 0.00 0.00 B 3,242,000.00 3,242,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 455.12 ~~836~~1,~~888~~583,292.8287 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 249,385,555.12 ~~240~~236,~~728~~469,~~872~~532.6995 0.00 56,~~005~~198,~~743~~663.7922 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 45,~~441~~500,~~914~~467.5374 8983,~~086~~585,~~329~~861.0632 0.~~87380659~~81985504 45,~~441~~500,~~914~~467.5374 A-2 0.00 50,355,000.00 1.00000000 0.00 A-3 0.00 44,646,000.00 1.00000000 0.00 A-4 ~~563~~698,~~829~~195.2648 2322,~~366~~668,~~911~~715.0255 0.~~93467644~~90674862 ~~563~~698,~~829~~195.2648 M-1 0.00 9,227,000.00 1.00000000 0.00 M-2 0.00 8,230,000.00 1.00000000 0.00 M-3 0.00 6,733,000.00 1.00000000 0.00 B 0.00 3,242,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 12,~~583~~282,~~292~~260.8749 35,~~478~~014.~~84705133~~63457989 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 56,~~005~~198,~~743~~663.7922 ~~236~~230,~~469~~969,~~532~~837.9536 0.~~94820862~~92615564 56,~~005~~198,~~743~~663.7922

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 101,952,000.00 ~~917~~873.~~37527062~~80658604 0.00000000 4353.~~56868458~~95154328 0.00000000 A-2 50,355,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 44,646,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 25,000,000.00 ~~957~~934.~~22961120~~67644080 0.00000000 2227.~~55317040~~92781920 0.00000000 M-1 9,227,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 8,230,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 6,733,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,242,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 455.12 ~~1838831~~3478847.~~12146247~~05132712 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 4353.~~56868458~~95154328 ~~873~~819.~~80658604~~85504277 0.~~87380659~~81985504 4353.~~56868458~~95154328 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 2227.~~55317040~~92781920 ~~934~~906.~~67644080~~74862200 0.~~93467644~~90674862 2227.~~55317040~~92781920 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 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 35,~~478~~014,~~847~~634.~~05132712~~57989102 ~~3478~~5014.~~84705133~~63457989 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~~LossesUnless ~~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-1 101,952,000.00 2.~~16250~~41000% 9389,~~528~~086,~~243~~329.5906 ~~179~~184,~~782~~878.0788 0.00 0.00 A-2 50,355,000.00 2.~~32250~~57000% 50,355,000.00 ~~103~~111,~~955~~438.1041 0.00 0.00 A-3 44,646,000.00 2.~~50250~~75000% 44,646,000.00 99105,~~312~~724.5521 0.00 0.00 A-4 25,000,000.00 2.~~33250~~58000% 23,~~930~~366,~~740~~911.2802 4951,~~616~~913.4049 0.00 0.00 M-1 9,227,000.00 2.~~62250~~87000% 9,227,000.00 2122,~~509~~803.1651 0.00 0.00 M-2 8,230,000.00 3.~~18250~~43000% 8,230,000.00 2324,~~281~~308.7622 0.00 0.00 M-3 6,733,000.00 5.50000% 6,733,000.00 30,859.58 0.00 0.00 B 3,242,000.00 5.50000% 3,242,000.00 14,859.17 0.00 0.00 B-IO 0.00 0.00000% ~~240~~236,~~728~~469,~~872~~532.6995 0.00 0.00 0.00 OC 455.12 0.00000% ~~836~~1,~~888~~583,292.8287 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 249,385,555.12 ~~523~~546,~~175~~785.7947 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 ~~179~~184,~~782~~878.0788 0.00 8983,~~086~~585,~~329~~861.0632 A-2 0.00 0.00 ~~103~~111,~~955~~438.1041 0.00 50,355,000.00 A-3 0.00 0.00 99105,~~312~~724.5521 0.00 44,646,000.00 A-4 0.00 0.00 4951,~~616~~913.4049 0.00 2322,~~366~~668,~~911~~715.0255 M-1 0.00 0.00 2122,~~509~~803.1651 0.00 9,227,000.00 M-2 0.00 0.00 2324,~~281~~308.7622 0.00 8,230,000.00 M-3 0.00 0.00 30,859.58 0.00 6,733,000.00 B 0.00 0.00 14,859.17 0.00 3,242,000.00 B-IO 0.00 0.00 0.00 0.00 ~~236~~230,~~469~~969,~~532~~837.9536 OC 0.00 0.00 0.00 0.00 12,~~583~~282,~~292~~260.8749 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 ~~523~~546,~~175~~785.7947 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-1 101,952,000.00 2.~~16250~~41000% ~~917~~873.~~37527062~~80658604 1.~~76339915~~81339140 0.00000000 0.00000000 A-2 50,355,000.00 2.~~32250~~57000% 1000.00000000 2.~~06444444~~21305551 0.00000000 0.00000000 A-3 44,646,000.00 2.~~50250~~75000% 1000.00000000 2.~~22444452~~36805559 0.00000000 0.00000000 A-4 25,000,000.00 2.~~33250~~58000% ~~957~~934.~~22961120~~67644080 12.~~98465600~~07653960 0.00000000 0.00000000 M-1 9,227,000.00 2.~~62250~~87000% 1000.00000000 2.~~33111087~~47138940 0.00000000 0.00000000 M-2 8,230,000.00 3.~~18250~~43000% 1000.00000000 2.~~82888943~~95361118 0.00000000 0.00000000 M-3 6,733,000.00 5.50000% 1000.00000000 4.58333284 0.00000000 0.00000000 B 3,242,000.00 5.50000% 1000.00000000 4.58333436 0.00000000 0.00000000 B-IO 0.00 0.00000% ~~965~~948.~~28834280~~20899974 0.00000000 0.00000000 0.00000000 OC 455.12 0.00000% ~~1838831~~3478847.~~12146247~~05132712 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.~~76339915~~81339140 0.00000000 ~~873~~819.~~80658604~~85504277 A-2 0.00000000 0.00000000 2.~~06444444~~21305551 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 2.~~22444452~~36805559 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 12.~~98465600~~07653960 0.00000000 ~~934~~906.~~67644080~~74862200 M-1 0.00000000 0.00000000 2.~~33111087~~47138940 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~82888943~~95361118 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 4.58333284 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.58333436 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 ~~948~~926.~~20899974~~15600717 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~3478847~~5014634.~~05132712~~57989102 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 56,~~590~~867,~~970~~578.8688 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~327~~287,~~887~~800.7045 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 57,~~918~~155,~~858~~379.5633 Withdrawals Reimbursement for Servicer Advances ~~306~~327,~~309~~887.3970 Payment of Service Fee 8382,~~629~~042.5994 Payment of Interest and Principal 56,~~528~~745,~~919~~448.5869 Total Withdrawals (Pool Distribution Amount) 57,~~918~~155,~~858~~379.5633 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8280,~~125~~565.0301 Master Servicing Fee 1,~~504~~477.5693 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8382,~~629~~042.5994

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 2122 0 0 2122 1,~~202~~277,~~805~~770.5763 0.00 0.00 1,~~202~~277,~~805~~770.5763 30 Days ~~194~~139 107 0 0 ~~204~~146 2615,~~032~~852,~~558~~811.5694 ~~929~~743,~~263~~467.9348 0.00 0.00 2616,~~961~~596,~~822~~279.4942 60 Days 8786 13 0 0 8889 10,~~125~~074,~~694~~078.1250 ~~112~~219,~~134~~000.5797 0.00 0.00 10,~~237~~293,~~828~~079.6947 90 Days 3649 01 01 0 3651 46,~~045~~907,~~056~~626.8299 099,022.0051 0562,453.0027 0.00 47,~~045~~569,~~056~~102.8277 120 Days 2220 0 1 0 2321 31,~~020~~989,~~930~~094.8949 0.00 ~~206~~97,~~856~~191.6383 0.00 32,~~227~~086,~~787~~286.5232 150 Days 1619 0 31 0 1920 12,~~937~~573,~~889~~639.6816 0.00 ~~797~~206,~~517~~856.5263 0.00 2,~~735~~780,~~407~~495.2079 180+ Days 116 0 02 0 118 ~~106~~1,~~333~~937,889.4968 0.00 0233,627.0095 0.00 ~~106~~2,~~333~~171,517.4963 Totals ~~356~~329 3233 45 0 ~~392~~367 4539,~~268~~335,~~463~~140.5676 2,~~244~~339,~~204~~261.0759 1,~~004~~100,~~374~~129.1568 0.00 4842,~~517~~774,~~041~~532.7803 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.~~239669~~329305% 0.000000% 0.000000% 1.~~239669~~329305% 0.~~507801~~552297% 0.000000% 0.000000% 0.~~507801~~552297% 30 Days 118.~~452184~~398792% 0.~~590319~~422961% 0.000000% 0.000000% 128.~~042503~~821752% 106.~~990443~~852141% 0.~~392317~~321353% 0.000000% 0.000000% 117.~~382760~~173493% 60 Days 5.~~135773~~196375% 0.~~059032~~181269% 0.000000% 0.000000% 5.~~194805~~377644% 4.~~274872~~354370% 0.~~047341~~094660% 0.000000% 0.000000% 4.~~322213~~449030% 90 Days 2.~~125148~~960725% 0.~~000000~~060423% 0.~~000000~~060423% 0.000000% 23.~~125148~~081571% 12.~~707745~~985718% 0.~~000000~~042801% 0.~~000000~~243112% 0.000000% 13.~~707745~~271631% 120 Days 1.~~298701~~208459% 0.000000% 0.~~059032~~060423% 0.000000% 1.~~357733~~268882% 10.~~275379~~859756% 0.000000% 0.~~087331~~042010% 0.000000% 10.~~362710~~901766% 150 Days 01.~~944510~~148036% 0.000000% 0.~~177096~~060423% 0.000000% 1.~~121606~~208459% 01.~~818140~~112417% 0.000000% 0.~~336696~~089411% 0.000000% 1.~~154836~~201828% 180+ Days 0.~~059032~~966767% 0.000000% 0.~~000000~~120846% 0.000000% 01.~~059032~~087613% 0.~~044892~~837624% 0.000000% 0.~~000000~~100982% 0.000000% 0.~~044892~~938606% Totals 2119.~~015348~~879154% 1.~~889020~~993958% 0.~~236128~~302115% 0.000000% 2322.~~140496~~175227% 1917.~~111470~~002026% 01.~~947460~~011111% 0.~~424027~~475515% 0.000000% 2018.~~482957~~488652%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~327~~287,~~887~~800.7045

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~745560~~738100% Weighted Average Net Coupon 6.~~336179~~329261% Weighted Average Pass-Through Rate 6.~~328679~~321761% Weighted Average Maturity(Stepdown Calculation ) ~~311~~310 Beginning Scheduled Collateral Loan Count 1,~~725~~694 Number Of Loans Paid In Full 3139 Ending Scheduled Collateral Loan Count 1,~~694~~655 Beginning Scheduled Collateral Balance ~~240~~236,~~728~~469,~~872~~532.6995 Ending Scheduled Collateral Balance ~~236~~230,~~469~~969,~~532~~837.9536 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~236~~231,~~865~~355,~~413~~607.4867 Monthly P &I Constant 1,~~710~~680,~~842~~819.6867 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~357~~353,~~633~~023.3748 Unscheduled Principal 35,~~901~~146,~~706~~672.3711 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~746~~698,~~404~~967.0563 Overcollateralized reduction Amount 0.00 Specified O/C Amount 5,112,401.83 Overcollateralized Amount 12,~~583~~282,~~292~~260.8749 Overcollateralized Deficiency Amount 32,~~529~~830,~~108~~141.9634 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~746~~698,~~404~~967.0563 Excess Cash Amount ~~746~~698,~~404~~967.0563

Miscellaneous Reporting 3 Month Rolling Delinquency Average 9.~~766053~~386038% Trigger Event NO Yield Maintenance 0.00

Filing Compare · Bear Stearns Asset Backed Securities Trust 2004-SD3