8-K 1 bst05003_10506.txt 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): June 27, 2005 BEAR STEARNS ARM TRUST Mortgage Pass-Through Certificates, Series 2005-3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-08 Pooling and Servicing Agreement) (Commission 54-2173113 (State or other File Number) 54-2173114 jurisdiction 54-2173115 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 June 27, 2005 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage Pass-Through Certificates, Series 2005-3 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 2005-3 Trust, relating to the June 27, 2005 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 2005-3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-3 Trust, relating to the June 27, 2005 distribution. EX-99.1

Bear Stearns ARM Trust Mortgage Pass-Through Certificates Record Date: 45/2931/052005 Distribution Date: 56/2527/052005 Bear Stearns ARM Trust Mortgage Pass-Through Certificates Series 2005-3 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com 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 07387AAV7 SEN 5.~~31996~~31923% ~~135~~130,~~009~~839,~~000~~279.0046 ~~598~~579,~~535~~970.4029 ~~4,169,720.54~~ II-A-1 07387AAW5 SEN 5.~~13663~~13882% ~~444~~442,~~418~~391,~~000~~389.0061 1,~~902~~894,~~344~~474.~~32 2,026,610.~~39 II-A-2 07387AAX3 SEN 4.~~99764~~99982% 2524,~~000~~885,~~000~~996.0038 ~~104~~103,~~117~~687.4090 ~~114,003.62~~ II-X-1 07387AAY1 SEN 0.13900% 0.00 2,~~895~~882.8363 ~~0.00~~ R-I 07387AAZ8 RES 5.~~31996~~30499% 500.00 0.~~22 50.~~00 R-II 07387ABA2 RES 5.~~31996~~30499% 500.00 0.~~22 50.~~00 R-III 07387ABB0 RES 5.~~31996~~30499% 500.00 0.~~22 50.~~00 B-1 07387ABC8 SUB 5.~~17758~~17912% 7,~~079~~078,~~000~~047.0068 30,~~543~~548.4236 ~~952.32~~ B-2 07387ABD6 SUB 5.~~17758~~17912% 6,~~759~~758,~~000~~090.0073 29,~~162~~167.7344 ~~909.27~~ B-3 07387ABE4 SUB 5.~~17758~~17912% 7,~~403~~402,~~000~~004.0009 31,~~941~~946.3753 ~~995.91~~ B-4 07387ABF1 SUB 5.~~17758~~17912% 6,~~436~~435,~~000~~134.0018 27,~~769~~773.1059 ~~865.82~~ B-5 07387ABG9 SUB 5.~~17758~~17912% 3,~~541~~540,~~000~~523.0064 15,~~278~~280.1865 ~~476.36~~ B-6 07387ABH7 SUB 5.~~17758~~17912% 3,~~540~~539,~~000~~523.0077 15,~~273~~276.8734 ~~476.23~~ B-7 07387ABJ3 SUB 5.~~17758~~17912% 2,~~575~~574,~~000~~653.0059 11,~~110~~112.2302 ~~346.41~~ B-8 07387ABK0 SUB 5.~~17758~~17912% 1,932,~~826~~565.0098 8,~~339~~340.4782 ~~260.02~~ Totals ~~643~~637,~~692~~377,~~976~~209.0011 2,~~777~~750,~~311~~460.~~98 6,315,766.89~~96

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses I-A-1 4,516,231.39 0.00 ~~130~~126,~~839~~323,~~279~~048.4606 45,~~768~~096,~~255~~201.9468 0.00 II-A-1 5,741,438.48 0.00 ~~442~~436,~~391~~649,~~389~~951.6113 37,~~928~~635,~~954~~912.7187 0.00 II-A-2 322,975.13 0.00 24,~~885~~563,~~996~~021.3825 ~~218~~426,~~121~~663.0203 0.00 II-X-1 0.00 0.00 0.00 2,~~895~~882.8363 0.00 R-I 0.00 0.00 500.2200 0.00 0.00 R-II 0.00 0.00 500.2200 0.00 0.00 R-III 0.00 0.00 500.2200 0.00 0.00 B-1 1,202.18 0.00 7,~~078~~076,~~047~~845.6850 31,~~495~~750.7454 0.00 B-2 1,147.83 0.00 6,~~758~~756,~~090~~942.7389 30,~~072~~315.0027 0.00 B-3 1,257.20 0.00 7,~~402~~400,~~004~~746.0989 3233,~~937~~203.2873 0.00 B-4 1,092.98 0.00 6,~~435~~434,~~134~~041.1820 28,~~634~~866.9257 0.00 B-5 601.34 0.00 3,~~540~~539,~~523~~922.6429 15,~~754~~881.5499 0.00 B-6 601.17 0.00 3,~~539~~538,~~523~~922.7760 15,~~750~~877.1051 0.00 B-7 437.29 0.00 2,574,~~653~~216.5930 11,~~456~~549.6431 0.00 B-8 328.24 0.00 1,932,~~565~~237.9874 8,~~599~~669.4906 0.00 Totals 10,587,313.23 0.00 ~~637~~626,~~377~~789,~~209~~895.1185 913,~~093~~337,~~078~~774.8719 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-1 135,009,000.00 ~~135~~130,~~009~~839,~~000~~279.0046 16,~~950~~647.7456 4,~~152~~499,~~769~~583.8083 0.00 0.00 II-A-1 444,418,000.00 ~~444~~442,~~418~~391,~~000~~389.0061 6080,~~934~~559.4154 15,~~965~~660,~~675~~878.9894 0.00 0.00 II-A-2 25,000,000.00 2524,~~000~~885,~~000~~996.0038 34,~~427~~531.7674 ~~110~~318,~~575~~443.8539 0.00 0.00 II-X-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 50.00 500.00 0.2000 490.8000 0.00 0.00 R-II 50.00 500.00 0.2000 490.8000 0.00 0.00 R-III 50.00 500.00 0.2000 490.8000 0.00 0.00 B-1 7,079,000.00 7,~~079~~078,~~000~~047.0068 ~~952~~1,202.3218 0.00 0.00 0.00 B-2 6,759,000.00 6,~~759~~758,~~000~~090.0073 ~~909~~1,147.2783 0.00 0.00 0.00 B-3 7,403,000.00 7,~~403~~402,~~000~~004.0009 ~~995~~1,257.9120 0.00 0.00 0.00 B-4 6,436,000.00 6,~~436~~435,~~000~~134.0018 ~~865~~1,092.8298 0.00 0.00 0.00 B-5 3,541,000.00 3,~~541~~540,~~000~~523.0064 ~~476~~601.3634 0.00 0.00 0.00 B-6 3,540,000.00 3,~~540~~539,~~000~~523.0077 ~~476~~601.2317 0.00 0.00 0.00 B-7 2,575,000.00 2,~~575~~574,~~000~~653.0059 ~~346~~437.4129 0.00 0.00 0.00 B-8 1,932,826.00 1,932,~~826~~565.0098 ~~260~~328.0224 0.00 0.00 0.00 Totals 643,692,976.00 ~~643~~637,~~692~~377,~~976~~209.0011 86108,~~595~~407.8507 610,~~229~~478,~~171~~906.0316 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 4,~~169~~516,~~720~~231.5439 ~~130~~126,~~839~~323,~~279~~048.4606 0.~~96911524~~93566390 4,~~169~~516,~~720~~231.5439 II-A-1 25,~~026~~741,~~610~~438.3948 ~~442~~436,~~391~~649,~~389~~951.6113 0.~~99543986~~98252085 25,~~026~~741,~~610~~438.3948 II-A-2 ~~114~~322,~~003~~975.6213 24,~~885~~563,~~996~~021.3825 0.~~99543986~~98252085 ~~114~~322,~~003~~975.6213 II-X-1 0.00 0.00 0.00000000 0.00 R-I 500.00 0.00 0.00000000 500.00 R-II 500.00 0.00 0.00000000 500.00 R-III 500.00 0.00 0.00000000 500.00 B-1 ~~952~~1,202.3218 7,~~078~~076,~~047~~845.6850 0.~~99986547~~99969565 ~~952~~1,202.3218 B-2 ~~909~~1,147.2783 6,~~758~~756,~~090~~942.7389 0.~~99986547~~99969565 ~~909~~1,147.2783 B-3 ~~995~~1,257.9120 7,~~402~~400,~~004~~746.0989 0.~~99986547~~99969565 ~~995~~1,257.9120 B-4 ~~865~~1,092.8298 6,~~435~~434,~~134~~041.1820 0.~~99986547~~99969565 ~~865~~1,092.8298 B-5 ~~476~~601.3634 3,~~540~~539,~~523~~922.6429 0.~~99986547~~99969565 ~~476~~601.3634 B-6 ~~476~~601.2317 3,~~539~~538,~~523~~922.7760 0.~~99986547~~99969565 ~~476~~601.2317 B-7 ~~346~~437.4129 2,574,~~653~~216.5930 0.~~99986547~~99969565 ~~346~~437.4129 B-8 ~~260~~328.0224 1,932,~~565~~237.9874 0.~~99986547~~99969565 ~~260~~328.0224 Totals 610,~~315~~587,~~766~~313.8923 ~~637~~626,~~377~~789,~~209~~895.1185 0.~~99018823~~97374046 610,~~315~~587,~~766~~313.8923

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 135,009,000.00 ~~1000~~969.~~00000000~~11524017 0.~~12555267~~12330704 3033.~~75920716~~32802872 0.00000000 II-A-1 444,418,000.00 ~~1000~~995.~~00000000~~43985529 0.~~13711058~~18126975 412.~~42303413~~73773551 0.00000000 II-A-2 25,000,000.00 ~~1000~~995.~~00000000~~43985520 0.~~13711040~~18126960 412.~~42303400~~73773560 0.00000000 II-X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 50.00 ~~1000~~0.00000000 40.00000000 ~~996~~0.00000000 0.00000000 R-II 50.00 ~~1000~~0.00000000 40.00000000 ~~996~~0.00000000 0.00000000 R-III 50.00 ~~1000~~0.00000000 40.00000000 ~~996~~0.00000000 0.00000000 B-1 7,079,000.00 ~~1000~~999.~~00000000~~86547252 0.~~13452748~~16982342 0.00000000 0.00000000 B-2 6,759,000.00 ~~1000~~999.~~00000000~~86547270 0.~~13452730~~16982246 0.00000000 0.00000000 B-3 7,403,000.00 ~~1000~~999.~~00000000~~86547211 0.~~13452789~~16982304 0.00000000 0.00000000 B-4 6,436,000.00 ~~1000~~999.~~00000000~~86547234 0.~~13452766~~16982287 0.00000000 0.00000000 B-5 3,541,000.00 ~~1000~~999.~~00000000~~86547303 0.~~13452697~~16982208 0.00000000 0.00000000 B-6 3,540,000.00 ~~1000~~999.~~00000000~~86547175 0.~~13452825~~16982203 0.00000000 0.00000000 B-7 2,575,000.00 ~~1000~~999.~~00000000~~86547184 0.~~13452816~~16982136 0.00000000 0.00000000 B-8 1,932,826.00 ~~1000~~999.~~00000000~~86547159 0.~~13452841~~16982387 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 3033.~~88475983~~45133576 ~~969~~935.~~11524017~~66390433 0.~~96911524~~93566390 3033.~~88475983~~45133576 II-A-1 0.00000000 412.~~56014471~~91900526 ~~995~~982.~~43985529~~52085003 0.~~99543986~~98252085 412.~~56014471~~91900526 II-A-2 0.00000000 412.~~56014480~~91900520 ~~995~~982.~~43985520~~52085000 0.~~99543986~~98252085 412.~~56014480~~91900520 II-X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-II 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-III 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 B-1 0.00000000 0.~~13452748~~16982342 999.~~86547252~~69564910 0.~~99986547~~99969565 0.~~13452748~~16982342 B-2 0.00000000 0.~~13452730~~16982246 999.~~86547270~~69564876 0.~~99986547~~99969565 0.~~13452730~~16982246 B-3 0.00000000 0.~~13452789~~16982304 999.~~86547211~~69564906 0.~~99986547~~99969565 0.~~13452789~~16982304 B-4 0.00000000 0.~~13452766~~16982287 999.~~86547234~~69564947 0.~~99986547~~99969565 0.~~13452766~~16982287 B-5 0.00000000 0.~~13452697~~16982208 999.~~86547303~~69564812 0.~~99986547~~99969565 0.~~13452697~~16982208 B-6 0.00000000 0.~~13452825~~16982203 999.~~86547175~~69564972 0.~~99986547~~99969565 0.~~13452825~~16982203 B-7 0.00000000 0.~~13452816~~16982136 999.~~86547184~~69565049 0.~~99986547~~99969565 0.~~13452816~~16982136 B-8 0.00000000 0.~~13452841~~16982387 999.~~86547159~~69564772 0.~~99986547~~99969565 0.~~13452841~~16982387 (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-1 135,009,000.00 5.~~31996~~31923% ~~135~~130,~~009~~839,~~000~~279.0046 ~~598~~579,~~535~~970.4029 0.00 0.00 II-A-1 444,418,000.00 5.~~13663~~13882% ~~444~~442,~~418~~391,~~000~~389.0061 1,~~902~~894,~~344~~474.3239 0.00 0.00 II-A-2 25,000,000.00 4.~~99764~~99982% 2524,~~000~~885,~~000~~996.0038 ~~104~~103,~~117~~687.4090 0.00 0.00 II-X-1 0.00 0.13900% 2524,~~000~~885,~~000~~996.0038 2,~~895~~882.8363 0.00 0.00 R-I 50.00 5.~~31996~~30499% 500.00 0.2200 0.00 0.00 R-II 50.00 5.~~31996~~30499% 500.00 0.2200 0.00 0.00 R-III 50.00 5.~~31996~~30499% 500.00 0.2200 0.00 0.00 B-1 7,079,000.00 5.~~17758~~17912% 7,~~079~~078,~~000~~047.0068 30,~~543~~548.4236 0.00 0.00 B-2 6,759,000.00 5.~~17758~~17912% 6,~~759~~758,~~000~~090.0073 29,~~162~~167.7344 0.00 0.00 B-3 7,403,000.00 5.~~17758~~17912% 7,~~403~~402,~~000~~004.0009 31,~~941~~946.3753 0.00 0.00 B-4 6,436,000.00 5.~~17758~~17912% 6,~~436~~435,~~000~~134.0018 27,~~769~~773.1059 0.00 0.00 B-5 3,541,000.00 5.~~17758~~17912% 3,~~541~~540,~~000~~523.0064 15,~~278~~280.1865 0.00 0.00 B-6 3,540,000.00 5.~~17758~~17912% 3,~~540~~539,~~000~~523.0077 15,~~273~~276.8734 0.00 0.00 B-7 2,575,000.00 5.~~17758~~17912% 2,~~575~~574,~~000~~653.0059 11,~~110~~112.2302 0.00 0.00 B-8 1,932,826.00 5.~~17758~~17912% 1,932,~~826~~565.0098 8,~~339~~340.4782 0.00 0.00 Totals 643,692,976.00 2,~~777~~750,~~311~~460.9896 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 ~~598~~579,~~535~~970.4029 0.00 ~~130~~126,~~839~~323,~~279~~048.4606 II-A-1 0.00 0.00 1,~~902~~894,~~344~~474.3239 0.00 ~~442~~436,~~391~~649,~~389~~951.6113 II-A-2 0.00 0.00 ~~104~~103,~~117~~687.4090 0.00 24,~~885~~563,~~996~~021.3825 II-X-1 0.00 0.00 2,~~895~~882.8363 0.00 24,~~885~~563,~~996~~021.3825 R-I 0.00 0.00 0.2200 0.00 0.00 R-II 0.00 0.00 0.2200 0.00 0.00 R-III 0.00 0.00 0.2200 0.00 0.00 B-1 0.00 0.00 30,~~543~~548.4236 0.00 7,~~078~~076,~~047~~845.6850 B-2 0.00 0.00 29,~~162~~167.7344 0.00 6,~~758~~756,~~090~~942.7389 B-3 0.00 0.00 31,~~941~~946.3753 0.00 7,~~402~~400,~~004~~746.0989 B-4 0.00 0.00 27,~~769~~773.1059 0.00 6,~~435~~434,~~134~~041.1820 B-5 0.00 0.00 15,~~278~~280.1865 0.00 3,~~540~~539,~~523~~922.6429 B-6 0.00 0.00 15,~~273~~276.8734 0.00 3,~~539~~538,~~523~~922.7760 B-7 0.00 0.00 11,~~110~~112.2302 0.00 2,574,~~653~~216.5930 B-8 0.00 0.00 8,~~339~~340.4782 0.00 1,932,~~565~~237.9874 Totals 0.00 0.00 2,~~777~~750,~~311~~460.9896 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-1 135,009,000.00 5.~~31996~~31923% ~~1000~~969.~~00000000~~11524017 4.~~43330000~~29578984 0.00000000 0.00000000 II-A-1 444,418,000.00 5.~~13663~~13882% ~~1000~~995.~~00000000~~43985529 4.~~28052941~~26282102 0.00000000 0.00000000 II-A-2 25,000,000.00 4.~~99764~~99982% ~~1000~~995.~~00000000~~43985520 4.~~16469600~~14751600 0.00000000 0.00000000 II-X-1 0.00 0.13900% ~~1000~~995.~~00000000~~43985520 0.~~11583320~~11530520 0.00000000 0.00000000 R-I 50.00 5.~~31996~~30499% ~~1000~~0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 R-II 50.00 5.~~31996~~30499% ~~1000~~0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 R-III 50.00 5.~~31996~~30499% ~~1000~~0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 B-1 7,079,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547252 4.~~31465179~~31534963 0.00000000 0.00000000 B-2 6,759,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547270 4.~~31465158~~31534842 0.00000000 0.00000000 B-3 7,403,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547211 4.~~31465217~~31534918 0.00000000 0.00000000 B-4 6,436,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547234 4.~~31465196~~31534960 0.00000000 0.00000000 B-5 3,541,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547303 4.~~31465123~~31534877 0.00000000 0.00000000 B-6 3,540,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547175 4.~~31465254~~31535028 0.00000000 0.00000000 B-7 2,575,000.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547184 4.~~31465243~~31534757 0.00000000 0.00000000 B-8 1,932,826.00 5.~~17758~~17912% ~~1000~~999.~~00000000~~86547159 4.~~31465119~~31534965 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 4.~~43330000~~29578984 0.00000000 ~~969~~935.~~11524017~~66390433 II-A-1 0.00000000 0.00000000 4.~~28052941~~26282102 0.00000000 ~~995~~982.~~43985529~~52085003 II-A-2 0.00000000 0.00000000 4.~~16469600~~14751600 0.00000000 ~~995~~982.~~43985520~~52085000 II-X-1 0.00000000 0.00000000 0.~~11583320~~11530520 0.00000000 ~~995~~982.~~43985520~~52085000 R-I 0.00000000 0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 40.~~40000000~~00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~31465179~~31534963 0.00000000 999.~~86547252~~69564910 B-2 0.00000000 0.00000000 4.~~31465158~~31534842 0.00000000 999.~~86547270~~69564876 B-3 0.00000000 0.00000000 4.~~31465217~~31534918 0.00000000 999.~~86547211~~69564906 B-4 0.00000000 0.00000000 4.~~31465196~~31534960 0.00000000 999.~~86547234~~69564947 B-5 0.00000000 0.00000000 4.~~31465123~~31534877 0.00000000 999.~~86547303~~69564812 B-6 0.00000000 0.00000000 4.~~31465254~~31535028 0.00000000 999.~~86547175~~69564972 B-7 0.00000000 0.00000000 4.~~31465243~~31534757 0.00000000 999.~~86547184~~69565049 B-8 0.00000000 0.00000000 4.~~31465119~~31534965 0.00000000 999.~~86547159~~69564772 (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 913,~~213~~441,~~196~~236.4201 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 035,513.0043 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 913,~~213~~476,~~196~~749.4244 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~120~~138,~~117~~975.5525 Payment of Interest and Principal 913,~~093~~337,~~078~~774.8719 Total Withdrawals (Pool Distribution Amount) 913,~~213~~476,~~196~~749.4244 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~117~~135,~~058~~617.0265 Additional Servicing Fee 2,~~619~~618.9876 Miscellaneous Fee ~~439~~738.5584 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~120~~138,~~117~~975.5525

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 016 0 0 0 016 06,839,064.0090 0.00 0.00 0.00 06,839,064.0090 60 Days 02 0 0 0 02 01,146,300.00 0.00 0.00 0.00 01,146,300.00 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 018 0 0 0 018 07,985,364.0090 0.00 0.00 0.00 07,985,364.0090 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 01.~~000000~~213961% 0.000000% 0.000000% 0.000000% 01.~~000000~~213961% 01.~~000000~~090997% 0.000000% 0.000000% 0.000000% 01.~~000000~~090997% 60 Days 0.~~000000~~151745% 0.000000% 0.000000% 0.000000% 0.~~000000~~151745% 0.~~000000~~182863% 0.000000% 0.000000% 0.000000% 0.~~000000~~182863% 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.~~000000~~365706% 0.000000% 0.000000% 0.000000% 01.~~000000~~365706% 01.~~000000~~273859% 0.000000% 0.000000% 0.000000% 01.~~000000~~273859%

Delinquency Status By Groups

~~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 06 0 0 0 06 02,342,572.0037 0.00 0.00 0.00 02,342,572.0037 60 Days 02 0 0 0 02 01,146,300.00 0.00 0.00 0.00 01,146,300.00 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 08 0 0 0 08 03,488,872.0037 0.00 0.00 0.00 03,488,872.0037 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~000000~~290076% 0.000000% 0.000000% 0.000000% 02.~~000000~~290076% 01.~~000000~~733908% 0.000000% 0.000000% 0.000000% 01.~~000000~~733908% 60 Days 0.~~000000~~763359% 0.000000% 0.000000% 0.000000% 0.~~000000~~763359% 0.~~000000~~848460% 0.000000% 0.000000% 0.000000% 0.~~000000~~848460% 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 03.~~000000~~053435% 0.000000% 0.000000% 0.000000% 03.~~000000~~053435% 02.~~000000~~582368% 0.000000% 0.000000% 0.000000% 02.~~000000~~582368% 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 010 0 0 0 010 04,496,492.0053 0.00 0.00 0.00 04,496,492.0053 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 010 0 0 0 010 04,496,492.0053 0.00 0.00 0.00 04,496,492.0053 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~946970% 0.000000% 0.000000% 0.000000% 0.~~000000~~946970% 0.~~000000~~914367% 0.000000% 0.000000% 0.000000% 0.~~000000~~914367% 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~~946970% 0.000000% 0.000000% 0.000000% 0.~~000000~~946970% 0.~~000000~~914367% 0.000000% 0.000000% 0.000000% 0.~~000000~~914367%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 035,513.0043

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 45.~~633753~~439986% Weighted Average Net Coupon 45.~~415528~~184657% Weighted Average Pass-Through Rate 45.~~409815~~178335% Weighted Average Maturity(Stepdown Calculation ) ~~358~~357 Beginning Scheduled Collateral Loan Count 1,~~341~~332 Number Of Loans Paid In Full 914 Ending Scheduled Collateral Loan Count 1,~~332~~318 Beginning Scheduled Collateral Balance ~~643~~637,~~692~~377,~~976~~209.0026 Ending Scheduled Collateral Balance ~~637~~626,~~377~~789,~~209~~896.2601 Ending Actual Collateral Balance at 2931-~~Apr~~May-2005 ~~637~~626,~~441~~863,~~345~~985.6880 Monthly P &I Constant 2,~~572~~997,~~085~~843.5001 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 86108,~~595~~407.8709 Unscheduled Principal 610,~~201~~478,~~896~~906.0816

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 5.~~605440~~605674 45.~~354272~~393516 45.~~633753~~439986 Weighted Average Net Rate 5.~~327344~~326834 45.~~153266~~144780 45.~~415528~~184657 Weighted Average Maturity 356 357 ~~358~~357 ~~358~~ Beginning Loan Count ~~277~~270 1,~~064~~062 1,~~341~~332 Loans Paid In Full 78 26 914 Ending Loan Count ~~270~~262 1,~~062~~056 1,~~332~~318 Beginning Scheduled Balance ~~143~~139,~~779~~608,~~461~~488.0097 ~~499~~497,~~913~~768,~~515~~720.0029 ~~643~~637,~~692~~377,~~976~~209.0026 Ending ~~scheduled~~Scheduled Balance ~~139~~135,~~608~~091,~~488~~141.9781 ~~497~~491,~~768~~698,~~720~~754.2920 ~~637~~626,~~377~~789,~~209~~896.2601 Record Date 0405/2931/2005 0405/2931/2005 0405/2931/2005 Principal And Interest Constant ~~689~~669,~~675~~929.1275 12,~~882~~327,~~410~~913.3826 2,~~572~~997,~~085~~843.5001 Scheduled Principal 1817,~~052~~763.5633 6890,~~543~~643.3176 86108,~~595~~407.8709 Unscheduled Principal 4,~~152~~499,~~919~~583.1983 25,~~048~~979,~~976~~322.8933 610,~~201~~478,~~896~~906.0816 Scheduled Interest ~~671~~652,~~622~~166.5642 12,~~813~~237,~~867~~269.0750 2,~~485~~889,~~489~~435.6392 Servicing Fees 3332,~~320~~440.3643 83103,~~737~~177.6622 ~~117~~135,~~058~~617.0265 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 884.7958 2,~~174~~473.7402 3,~~059~~357.5360 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 ~~637~~618,~~417~~841.41 12,~~727~~131,~~954~~619.6726 2,~~365~~750,~~372~~460.0867 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 5.~~319959~~319230 45.~~148035~~138818 45.~~409815~~178335

Miscellaneous Reporting Group Group 1 Average Loss 0 Senior Percentage 93.~~900000~~718714% Senior Prepayment Percentage 100.000000% Subordinate Percentage 6.~~100000~~281286% Subordinate Prepayment Percentage 0.000000% Group Group 2 Average Loss 0 Senior Percentage 93.~~900000~~874398% Senior Prepayment Percentage 100.000000% Subordinate Percentage 6.~~100000~~125602% Subordinate Prepayment Percentage 0.000000%

Filing Compare · Bear Stearns Arm Trust 2005-3