8-K 1 bsa04ac5_dec.txt DECEMBER 8K 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 I TRUST Asset Backed Certificates, Series 2004-AC5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113636-14 54-2161178 Pooling and Servicing Agreement) (Commission 54-2161179 (State or other File Number) 54-2161180 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 ASSET BACKED SECURITIES I TRUST, Asset Backed Certificates, Series 2004-AC5 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-AC5 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 I TRUST Asset Backed Certificates, Series 2004-AC5 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-AC5 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-AC5 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 073879GM4 SEN 5.25000% ~~310~~302,~~359~~828,~~086~~052.2395 1,~~357~~324,~~821~~872.0073 7,~~531~~971,~~033~~650.2825 A-2 073879GN2 SEN 2.~~33250~~58000% 3130,~~035~~282,~~907~~804.6433 6065,~~326~~108.0503 ~~753~~797,~~103~~165.3000 A-3 073879GP7 SEN 5.~~66750~~42000% 0.00 ~~146~~136,~~580~~777.0133 0.00 M-1 073879GQ5 MEZ 2.~~60250~~85000% 3029,~~569~~827,~~507~~721.7387 7068,~~717~~479.4648 ~~741,~~785,185.8540 M-2 073879GR3 MEZ 3.~~13250~~38000% 26,~~721~~073,~~701~~284.0736 7470,~~405~~991.0976 ~~648~~686,~~416~~353.7253 M-3 073879GS1 MEZ 3.~~33250~~58000% 8,~~337~~135,~~407~~095.3458 2423,~~697~~460.2571 ~~202~~214,~~311~~148.7638 B-1 073879GT9 SUB 3.~~68250~~93000% 6,~~413~~257,~~011~~395.0986 2019,~~991~~809.9287 ~~155~~164,~~615~~719.2378 B-2 073879GU6 SUB 34.~~83250~~08000% 6,~~413~~257,~~011~~395.0986 2120,~~846~~565.9997 ~~155~~164,~~615~~719.2378 B-3 073879GV4 SUB 5.~~43250~~68000% 5,~~557~~422,~~285~~435.7012 2624,~~835~~810.5265 ~~134~~142,~~850~~740.5826 C 073879GW2 OC 0.00000% 2,170,174.45 ~~476~~467,~~985~~571.6148 0.00 P 073879HS0 SEN 0.00000% 100.00 2047,~~884~~423.0278 0.00 R-1 073879HT8 RES 0.00000% 0.00 0.00 0.00 R-2 073879HU5 RES 0.00000% 0.00 0.00 0.00 R-3 073879HV3 RES 0.00000% 0.00 0.00 0.00 Totals ~~427~~417,~~577~~254,~~192~~460.3438 2,~~302~~269,~~090~~871.9279 10,~~322~~926,~~731~~682.9538

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~302~~294,~~828~~856,~~052~~402.9569 89,~~888~~296,~~854~~522.2898 0.00 A-2 0.00 3029,~~282~~485,~~804~~639.33 ~~813~~862,~~429~~273.3503 0.00 A-3 0.00 0.00 ~~146~~136,~~580~~777.0133 0.00 M-1 0.00 29,~~827~~042,~~721~~536.8747 ~~812~~853,~~503~~664.3188 0.00 M-2 0.00 2625,~~073~~386,~~284~~930.3682 ~~722~~757,~~821~~345.8129 0.00 M-3 0.00 87,~~135~~920,~~095~~947.5820 ~~227~~237,~~009~~609.0109 0.00 B-1 0.00 6,~~257~~092,~~395~~676.8608 ~~176~~184,~~607~~529.1565 0.00 B-2 0.00 6,~~257~~092,~~395~~676.8608 ~~177~~185,~~462~~285.2275 0.00 B-3 0.00 5,~~422~~279,~~435~~694.1286 ~~161~~167,~~686~~550.1091 0.00 C 0.00 2,170,174.45 ~~476~~467,~~985~~571.6148 0.00 P 0.00 100.00 2047,~~884~~423.0278 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~417~~406,~~254~~327,~~460~~777.3898 1213,~~624~~196,~~822~~554.8717 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-1 314,810,910.00 ~~310~~302,~~359~~828,~~086~~052.2395 0.00 7,~~531~~971,~~033~~650.2825 0.00 0.00 A-2 31,481,090.00 3130,~~035~~282,~~907~~804.6433 0.00 ~~753~~797,~~103~~165.3000 0.00 0.00 A-3 0.00 0.00 0.00 0.00 0.00 0.00 M-1 31,008,000.00 3029,~~569~~827,~~507~~721.7387 0.00 ~~741,~~785,185.8540 0.00 0.00 M-2 27,105,000.00 26,~~721~~073,~~701~~284.0736 0.00 ~~648~~686,~~416~~353.7253 0.00 0.00 M-3 8,457,000.00 8,~~337~~135,~~407~~095.3458 0.00 ~~202~~214,~~311~~148.7638 0.00 0.00 B-1 6,505,000.00 6,~~413~~257,~~011~~395.0986 0.00 ~~155~~164,~~615~~719.2378 0.00 0.00 B-2 6,505,000.00 6,~~413~~257,~~011~~395.0986 0.00 ~~155~~164,~~615~~719.2378 0.00 0.00 B-3 5,637,000.00 5,~~557~~422,~~285~~435.7012 0.00 ~~134~~142,~~850~~740.5826 0.00 0.00 C 2,170,175.00 2,170,174.45 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 433,679,275.00 ~~427~~417,~~577~~254,~~192~~460.3438 0.00 10,~~322~~926,~~731~~682.9538 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 7,~~531~~971,~~033~~650.2825 ~~302~~294,~~828~~856,~~052~~402.9569 0.~~96193633~~93661431 7,~~531~~971,~~033~~650.2825 A-2 ~~753~~797,~~103~~165.3000 3029,~~282~~485,~~804~~639.33 0.~~96193633~~93661431 ~~753~~797,~~103~~165.3000 A-3 0.00 0.00 0.00000000 0.00 M-1 ~~741,~~785,185.8540 29,~~827~~042,~~721~~536.8747 0.~~96193633~~93661431 ~~741,~~785,185.8540 M-2 ~~648~~686,~~416~~353.7253 2625,~~073~~386,~~284~~930.3682 0.~~96193633~~93661431 ~~648~~686,~~416~~353.7253 M-3 ~~202~~214,~~311~~148.7638 87,~~135~~920,~~095~~947.5820 0.~~96193633~~93661431 ~~202~~214,~~311~~148.7638 B-1 ~~155~~164,~~615~~719.2378 6,~~257~~092,~~395~~676.8608 0.~~96193634~~93661431 ~~155~~164,~~615~~719.2378 B-2 ~~155~~164,~~615~~719.2378 6,~~257~~092,~~395~~676.8608 0.~~96193634~~93661431 ~~155~~164,~~615~~719.2378 B-3 ~~134~~142,~~850~~740.5826 5,~~422~~279,~~435~~694.1286 0.~~96193633~~93661431 ~~134~~142,~~850~~740.5826 C 0.00 2,170,174.45 0.99999975 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 10,~~322~~926,~~731~~682.9538 ~~417~~406,~~254~~327,~~460~~777.3898 0.~~96212682~~93693151 10,~~322~~926,~~731~~682.9538

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 314,810,910.00 ~~985~~961.~~85873733~~93633489 0.00000000 2325.~~92240244~~32202664 0.00000000 A-2 31,481,090.00 ~~985~~961.~~85873742~~93633480 0.00000000 2325.~~92240231~~32202665 0.00000000 A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 31,008,000.00 ~~985~~961.~~85873742~~93633482 0.00000000 2325.~~92240228~~32202657 0.00000000 M-2 27,105,000.00 ~~985~~961.~~85873713~~93633499 0.00000000 2325.~~92240251~~32202656 0.00000000 M-3 8,457,000.00 ~~985~~961.~~85873714~~93633440 0.00000000 2325.~~92240274~~32202672 0.00000000 B-1 6,505,000.00 ~~985~~961.~~85873789~~93633513 0.00000000 2325.~~92240277~~32202613 0.00000000 B-2 6,505,000.00 ~~985~~961.~~85873789~~93633513 0.00000000 2325.~~92240277~~32202613 0.00000000 B-3 5,637,000.00 ~~985~~961.~~85873692~~93633493 0.00000000 2325.~~92240199~~32202590 0.00000000 C 2,170,175.00 999.99974656 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 2325.~~92240244~~32202664 ~~961~~936.~~93633489~~61430822 0.~~96193633~~93661431 2325.~~92240244~~32202664 A-2 0.00000000 2325.~~92240231~~32202665 ~~961~~936.~~93633480~~61430814 0.~~96193633~~93661431 2325.~~92240231~~32202665 A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 2325.~~92240228~~32202657 ~~961~~936.~~93633482~~61430824 0.~~96193633~~93661431 2325.~~92240228~~32202657 M-2 0.00000000 2325.~~92240251~~32202656 ~~961~~936.~~93633499~~61430806 0.~~96193633~~93661431 2325.~~92240251~~32202656 M-3 0.00000000 2325.~~92240274~~32202672 ~~961~~936.~~93633440~~61430767 0.~~96193633~~93661431 2325.~~92240274~~32202672 B-1 0.00000000 2325.~~92240277~~32202613 ~~961~~936.~~93633513~~61430899 0.~~96193634~~93661431 2325.~~92240277~~32202613 B-2 0.00000000 2325.~~92240277~~32202613 ~~961~~936.~~93633513~~61430899 0.~~96193634~~93661431 2325.~~92240277~~32202613 B-3 0.00000000 2325.~~92240199~~32202590 ~~961~~936.~~93633493~~61430903 0.~~96193633~~93661431 2325.~~92240199~~32202590 C 0.00000000 0.00000000 999.99974656 0.99999975 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 314,810,910.00 5.25000% ~~310~~302,~~359~~828,~~086~~052.2395 1,~~357~~324,~~821~~872.0073 0.00 0.00 A-2 31,481,090.00 2.~~33250~~58000% 3130,~~035~~282,~~907~~804.6433 6065,~~326~~108.0503 0.00 0.00 A-3 0.00 5.~~66750~~42000% 3130,~~035~~282,~~907~~804.6433 ~~146~~136,~~580~~777.0133 0.00 0.00 M-1 31,008,000.00 2.~~60250~~85000% 3029,~~569~~827,~~507~~721.7387 7068,~~717~~479.4648 0.00 0.00 M-2 27,105,000.00 3.~~13250~~38000% 26,~~721~~073,~~701~~284.0736 7470,~~405~~991.0976 0.00 0.00 M-3 8,457,000.00 3.~~33250~~58000% 8,~~337~~135,~~407~~095.3458 2423,~~697~~460.2571 0.00 0.00 B-1 6,505,000.00 3.~~68250~~93000% 6,~~413~~257,~~011~~395.0986 2019,~~991~~809.9287 0.00 0.00 B-2 6,505,000.00 34.~~83250~~08000% 6,~~413~~257,~~011~~395.0986 2120,~~846~~565.9997 0.00 0.00 B-3 5,637,000.00 5.~~43250~~68000% 5,~~557~~422,~~285~~435.7012 2624,~~835~~810.5265 0.00 0.00 C 2,170,175.00 0.00000% 2,170,174.45 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 433,679,275.00 1,~~804~~754,~~221~~876.2953 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 1,~~357~~324,~~821~~872.0073 0.00 ~~302~~294,~~828~~856,~~052~~402.9569 A-2 0.00 0.00 6065,~~326~~108.0503 0.00 3029,~~282~~485,~~804~~639.33 A-3 0.00 0.00 ~~146~~136,~~580~~777.0133 0.00 3029,~~282~~485,~~804~~639.33 M-1 0.00 0.00 7068,~~717~~479.4648 0.00 29,~~827~~042,~~721~~536.8747 M-2 0.00 0.00 7470,~~405~~991.0976 0.00 2625,~~073~~386,~~284~~930.3682 M-3 0.00 0.00 2423,~~697~~460.2571 0.00 87,~~135~~920,~~095~~947.5820 B-1 0.00 0.00 2019,~~991~~809.9287 0.00 6,~~257~~092,~~395~~676.8608 B-2 0.00 0.00 2120,~~846~~565.9997 0.00 6,~~257~~092,~~395~~676.8608 B-3 0.00 0.00 2624,~~835~~810.5265 0.00 5,~~422~~279,~~435~~694.1286 C 0.00 0.00 ~~476~~467,~~985~~571.6148 0.00 2,170,174.45 P 0.00 0.00 2047,~~884~~423.0278 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~302~~269,~~090~~871.9279 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-1 314,810,910.00 5.25000% ~~985~~961.~~85873733~~93633489 4.~~31313197~~20847146 0.00000000 0.00000000 A-2 31,481,090.00 2.~~33250~~58000% ~~985~~961.~~85873742~~93633480 12.~~91626306~~06816314 0.00000000 0.00000000 A-3 0.00 5.~~66750~~42000% ~~985~~961.~~85873742~~93633480 4.~~65612881~~34474569 0.00000000 0.00000000 M-1 31,008,000.00 2.~~60250~~85000% ~~985~~961.~~85873742~~93633482 2.~~28061984~~20844556 0.00000000 0.00000000 M-2 27,105,000.00 3.~~13250~~38000% ~~985~~961.~~85873713~~93633499 2.~~74506881~~61913890 0.00000000 0.00000000 M-3 8,457,000.00 3.~~33250~~58000% ~~985~~961.~~85873714~~93633440 2.~~92033227~~77411730 0.00000000 0.00000000 B-1 6,505,000.00 3.~~68250~~93000% ~~985~~961.~~85873789~~93633513 3.~~22704381~~04532975 0.00000000 0.00000000 B-2 6,505,000.00 34.~~83250~~08000% ~~985~~961.~~85873789~~93633513 3.~~35849193~~16156341 0.00000000 0.00000000 B-3 5,637,000.00 5.~~43250~~68000% ~~985~~961.~~85873692~~93633493 4.~~76060316~~40139258 0.00000000 0.00000000 C 2,170,175.00 0.00000% 999.99974656 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 4.~~31313197~~20847146 0.00000000 ~~961~~936.~~93633489~~61430822 A-2 0.00000000 0.00000000 12.~~91626306~~06816314 0.00000000 ~~961~~936.~~93633480~~61430814 A-3 0.00000000 0.00000000 4.~~65612881~~34474569 0.00000000 ~~961~~936.~~93633480~~61430814 M-1 0.00000000 0.00000000 2.~~28061984~~20844556 0.00000000 ~~961~~936.~~93633482~~61430824 M-2 0.00000000 0.00000000 2.~~74506881~~61913890 0.00000000 ~~961~~936.~~93633499~~61430806 M-3 0.00000000 0.00000000 2.~~92033227~~77411730 0.00000000 ~~961~~936.~~93633440~~61430767 B-1 0.00000000 0.00000000 3.~~22704381~~04532975 0.00000000 ~~961~~936.~~93633513~~61430899 B-2 0.00000000 0.00000000 3.~~35849193~~16156341 0.00000000 ~~961~~936.~~93633513~~61430899 B-3 0.00000000 0.00000000 4.~~76060316~~40139258 0.00000000 ~~961~~936.~~93633493~~61430903 C 0.00000000 0.00000000 ~~219~~215.~~79131176~~45335284 0.00000000 999.99974656 P 0.00000000 0.00000000 ~~208840~~474237.~~20000000~~80000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 1213,~~737~~281,~~965~~425.1504 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9199,~~926~~416.1976 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1213,~~829~~380,~~891~~841.3480 Withdrawals Reimbursement for Servicer Advances ~~110~~91,~~469~~926.9419 Payment of Service Fee 9492,~~598~~361.5344 Payment of Interest and Principal 1213,~~624~~196,~~822~~554.8717 Total Withdrawals (Pool Distribution Amount) 1213,~~829~~380,~~891~~841.3480 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 8986,~~078~~927.5699 Master Servicing Fee 3,~~563~~477.1412 Miscellaneous Fee 1,956.8333 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 9492,~~598~~361.5344

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 01 0 0 01 0108,000.00 0.00 0.00 0108,000.00 30 Days 56 0 0 0 56 10,~~738~~485,~~314~~738.7348 0.00 0.00 0.00 10,~~738~~485,~~314~~738.7348 60 Days 1214 0 0 0 1214 32,~~096~~974,~~081~~332.2272 0.00 0.00 0.00 32,~~096~~974,~~081~~332.2272 90 Days 25 0 0 0 25 ~~588~~1,~~294~~443,522.1385 0.00 0.00 0.00 ~~588~~1,~~294~~443,522.1385 120 Days 01 0 0 0 01 0132,294.0013 0.00 0.00 0.00 0132,294.0013 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 7076 01 0 0 7077 1415,~~422~~035,~~690~~888.0818 0108,000.00 0.00 0.00 1415,~~422~~143,~~690~~888.0818 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~~054230% 0.000000% 0.000000% 0.~~000000~~054230% 0.~~000000~~026560% 0.000000% 0.000000% 0.~~000000~~026560% 30 Days 23.~~972399~~036876% 0.000000% 0.000000% 0.000000% 23.~~972399~~036876% 2.~~571663~~578742% 0.000000% 0.000000% 0.000000% 2.~~571663~~578742% 60 Days 0.~~636943~~759219% 0.000000% 0.000000% 0.000000% 0.~~636943~~759219% 0.~~741464~~731473% 0.000000% 0.000000% 0.000000% 0.~~741464~~731473% 90 Days 0.~~106157~~271150% 0.000000% 0.000000% 0.000000% 0.~~106157~~271150% 0.~~140887~~355003% 0.000000% 0.000000% 0.000000% 0.~~140887~~355003% 120 Days 0.~~000000~~054230% 0.000000% 0.000000% 0.000000% 0.~~000000~~054230% 0.~~000000~~032535% 0.000000% 0.000000% 0.000000% 0.~~000000~~032535% 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 34.~~715499~~121475% 0.~~000000~~054230% 0.000000% 0.000000% 34.~~715499~~175705% 3.~~454015~~697753% 0.~~000000~~026560% 0.000000% 0.000000% 3.~~454015~~724313%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9199,~~926~~416.1976

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~667906~~658586% Weighted Average Net Coupon 6.~~417906~~408586% Weighted Average Pass-Through Rate 6.~~402414~~392960% Weighted Average Maturity(Stepdown Calculation ) ~~316~~315 Beginning Scheduled Collateral Loan Count 1,~~924~~884 Number Of Loans Paid In Full 40 Ending Scheduled Collateral Loan Count 1,~~884~~844 Beginning Scheduled Collateral Balance ~~427~~417,~~577~~254,~~092~~360.3338 Ending Scheduled Collateral Balance ~~417~~406,~~254~~327,~~360~~677.3898 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~417~~406,~~563~~622,~~053~~310.0283 Monthly P &I Constant 2,~~764~~696,~~940~~276.2814 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~389~~381,~~070~~006.4312 Unscheduled Principal 910,~~933~~545,~~661~~676.5228 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 2,168,396.00 Overcollateralized Amount 2,170,174.45 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~476~~467,~~985~~571.6148

Miscellaneous Reporting Net Wac Rate Carryover Amount A-1 0.00 Net Wac Rate Carryover Amount A-2 0.00 Net Wac Rate Carryover Amount A-3 0.00 Net Wac Rate Carryover Amount B-1 0.00 Net Wac Rate Carryover Amount B-2 0.00 Net Wac Rate Carryover Amount B-3 0.00 Net Wac Rate Carryover Amount M-1 0.00 Net Wac Rate Carryover Amount M-2 0.00 Net Wac Rate Carryover Amount M-3 0.00 3 Month Rolling Average Delinquency 0.~~006597~~008124%

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2004-AC5