8-K 1 bst05005_10508.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): August 25, 2005 BEAR STEARNS ARM TRUST Mortgage-Backed Notes, Series 2005-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120916-16 Pooling and Servicing Agreement) (Commission 54-6671957 (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 August 25, 2005 a distribution was made to holders of BEAR STEARNS ARM TRUST, Mortgage-Backed Notes, Series 2005-5 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-5 Trust, relating to the August 25, 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-Backed Notes, Series 2005-5 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/29/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2005-5 Trust, relating to the August 25, 2005 distribution. EX-99.1

~~SECURITIES~~Bear ~~AND~~Stearns ~~EXCHANGE~~ARM ~~COMMISSION~~Trust Mortgage-Backed Notes Record Date: 7/29/2005 Distribution Date: 8/25/2005 Bear Stearns ARM Trust Mortgage-Backed Notes Series 2005-5 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 Class CUSIP Description Rate Balance Distribution A-1 07387ACJ2 SEN 4.55000% 665,143,000.00 2,522,000.54 A-2 07387ACK9 SEN 4.55000% 690,405,000.00 2,617,785.63 M 07387ACL7 SEN 4.61734% 20,000,000.00 76,955.70 B-1 07387ACN3 SUB 4.61734% 16,973,000.00 65,308.46 B-2 07387ACP8 SUB 4.61734% 9,194,000.00 35,376.54 B-3 07387ACQ6 SUB 4.61734% 5,658,000.00 21,770.77 B-4 07387ACS2 SUB 4.61734% 2,122,000.00 8,165.00 B-5 07387ACT0 SUB 4.61734% 1,414,000.00 5,440.77 B-6 07387ACU7 SUB 4.61734% 3,538,169.82 13,614.12 X 07387ACR4 SEN 0.06734% 0.00 76,070.94 Totals 1,414,447,169.82 5,442,488.47

~~Washington~~Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 17,629,831.22 D0.C00 647,513,168.78 ~~20549~~20,151,831.76 0.00 A-2 10,235,625.44 0.00 680,169,374.56 12,853,411.07 0.00 M 15,309.06 0.00 19,984,690.94 92,264.76 0.00 B-1 12,992.04 0.00 16,960,007.96 78,300.50 0.00 B-2 7,037.58 0.00 9,186,962.42 42,414.12 0.00 B-3 4,330.93 0.00 5,653,669.07 26,101.70 0.00 B-4 1,624.29 0.00 2,120,375.71 9,789.29 0.00 B-5 1,082.35 0.00 1,412,917.65 6,523.12 0.00 B-6 2,708.66 0.00 3,535,461.16 16,322.78 0.00 X 0.00 0.00 0.00 76,070.94 0.00 Totals 27,910,541.57 0.00 1,386,536,628.25 33,353,030.04 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~FORM~~Principal 8Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-K1 665,143,000.00 665,143,000.00 702,473.65 16,927,357.57 0.00 0.00 A-2 690,405,000.00 690,405,000.00 335,112.13 9,900,513.31 0.00 0.00 M 20,000,000.00 20,000,000.00 15,309.06 0.00 0.00 0.00 B-1 16,973,000.00 16,973,000.00 12,992.04 0.00 0.00 0.00 B-2 9,194,000.00 9,194,000.00 7,037.58 0.00 0.00 0.00 B-3 5,658,000.00 5,658,000.00 4,330.93 0.00 0.00 0.00 B-4 2,122,000.00 2,122,000.00 1,624.29 0.00 0.00 0.00 B-5 1,414,000.00 1,414,000.00 1,082.35 0.00 0.00 0.00 B-6 3,538,169.82 3,538,169.82 2,708.66 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,414,447,169.82 1,414,447,169.82 1,082,670.69 26,827,870.88 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.

~~CURRENT~~Principal ~~REPORT~~Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 17,629,831.22 647,513,168.78 0.97349468 17,629,831.22 A-2 10,235,625.44 680,169,374.56 0.98517446 10,235,625.44 M 15,309.06 19,984,690.94 0.99923455 15,309.06 B-1 12,992.04 16,960,007.96 0.99923455 12,992.04 B-2 7,037.58 9,186,962.42 0.99923455 7,037.58 B-3 4,330.93 5,653,669.07 0.99923455 4,330.93 B-4 1,624.29 2,120,375.71 0.99923455 1,624.29 B-5 1,082.35 1,412,917.65 0.99923455 1,082.35 B-6 2,708.66 3,535,461.16 0.99923445 2,708.66 X 0.00 0.00 0.00000000 0.00 Totals 27,910,541.57 1,386,536,628.25 0.98026753 27,910,541.57

~~Pursuant~~Principal toDistribution ~~Section~~Factors 13Statement orOriginal 15Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (d2) ofAmount ~~the~~Balance Distribution Distribution Accretion A-1 665,143,000.00 1000.00000000 1.05612425 25.44920050 0.00000000 A-2 690,405,000.00 1000.00000000 0.48538485 14.34015297 0.00000000 M 20,000,000.00 1000.00000000 0.76545300 0.00000000 0.00000000 B-1 16,973,000.00 1000.00000000 0.76545337 0.00000000 0.00000000 B-2 9,194,000.00 1000.00000000 0.76545356 0.00000000 0.00000000 B-3 5,658,000.00 1000.00000000 0.76545246 0.00000000 0.00000000 B-4 2,122,000.00 1000.00000000 0.76545240 0.00000000 0.00000000 B-5 1,414,000.00 1000.00000000 0.76545262 0.00000000 0.00000000 B-6 3,538,169.82 1000.00000000 0.76555398 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000

~~Securities~~Principal ~~Exchange~~Distribution ~~Act~~Factors ofStatement ~~1934~~(continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 26.50532475 973.49467525 0.97349468 26.50532475 A-2 0.00000000 14.82553782 985.17446218 0.98517446 14.82553782 M 0.00000000 0.76545300 999.23454700 0.99923455 0.76545300 B-1 0.00000000 0.76545337 999.23454663 0.99923455 0.76545337 B-2 0.00000000 0.76545356 999.23454644 0.99923455 0.76545356 B-3 0.00000000 0.76545246 999.23454754 0.99923455 0.76545246 B-4 0.00000000 0.76545240 999.23454760 0.99923455 0.76545240 B-5 0.00000000 0.76545262 999.23454738 0.99923455 0.76545262 B-6 0.00000000 0.76555398 999.23444602 0.99923445 0.76555398 X 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.

~~Date~~Interest ofDistribution ~~Report~~Statement ~~(Date~~Beginning Payment of ~~earliest~~Original ~~event~~Current ~~reported)~~Certificate/ ~~July~~Current 29Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 665,143,000.00 ~~2005~~4.55000% 665,143,000.00 2,522,000.54 0.00 0.00 A-2 690,405,000.00 4.55000% 690,405,000.00 2,617,785.63 0.00 0.00 M 20,000,000.00 4.61734% 20,000,000.00 76,955.70 0.00 0.00 B-1 16,973,000.00 4.61734% 16,973,000.00 65,308.46 0.00 0.00 B-2 9,194,000.00 4.61734% 9,194,000.00 35,376.54 0.00 0.00 B-3 5,658,000.00 4.61734% 5,658,000.00 21,770.77 0.00 0.00 B-4 2,122,000.00 4.61734% 2,122,000.00 8,165.00 0.00 0.00 B-5 1,414,000.00 4.61734% 1,414,000.00 5,440.77 0.00 0.00 B-6 3,538,169.82 4.61734% 3,538,169.82 13,614.12 0.00 0.00 X 0.00 0.06734% 1,355,548,000.00 76,070.94 0.00 0.00 Totals 1,414,447,169.82 5,442,488.47 0.00 0.00

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~MORTGAGE~~Statement ~~INVESTMENTS~~(continued) IIRemaining ~~INC.~~Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (as4) ~~depositor~~Distribution ~~under~~Shortfall anBalance ~~Indenture~~A-1 0.00 0.00 2,522,000.54 ~~dated~~0.00 as647,513,168.78 ofA-2 ~~July~~0.00 140.00 2,617,785.63 ~~2005~~0.00 680,169,374.56 ~~providing~~M ~~for~~0.00 0.00 76,955.70 ~~inter~~0.00 ~~alia~~19,984,690.94 ~~the~~B-1 ~~issuance~~0.00 of0.00 ~~Mortgage~~65,308.46 0.00 16,960,007.96 B-~~Backed~~2 ~~Notes~~0.00 0.00 35,376.54 ~~Series~~0.00 ~~2005~~9,186,962.42 B-3 0.00 0.00 21,770.77 0.00 5,653,669.07 B-4 0.00 0.00 8,165.00 0.00 2,120,375.71 B-5 0.00 0.00 5,440.77 0.00 1,412,917.65 B-6 0.00 0.00 13,614.12 0.00 3,535,461.16 X 0.00 0.00 76,070.94 0.00 1,327,682,543.34 Totals 0.00 0.00 5,442,488.47 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.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~MORTGAGE~~Factors ~~INVESTMENTS~~Statement IIBeginning ~~INC~~Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 665,143,000.00 4.55000% 1000.00000000 3.79166666 0.00000000 0.00000000 A-2 690,405,000.00 4.55000% 1000.00000000 3.79166667 0.00000000 0.00000000 M 20,000,000.00 4.61734% 1000.00000000 3.84778500 0.00000000 0.00000000 B-1 16,973,000.00 4.61734% 1000.00000000 3.84778531 0.00000000 0.00000000 B-2 9,194,000.00 4.61734% 1000.00000000 3.84778551 0.00000000 0.00000000 B-3 5,658,000.00 4.61734% 1000.00000000 3.84778544 0.00000000 0.00000000 B-4 2,122,000.00 4.61734% 1000.00000000 3.84778511 0.00000000 0.00000000 B-5 1,414,000.00 4.61734% 1000.00000000 3.84778642 0.00000000 0.00000000 B-6 3,538,169.82 4.61734% 1000.00000000 3.84778592 0.00000000 0.00000000 X 0.00 0.06734% 1000.00000000 0.05611822 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (~~Exact~~continued) ~~name~~Remaining ofEnding ~~registrant~~Non-Supported asTotal ~~specified~~Unpaid inCertificate/ ~~its~~Interest ~~charter~~Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 3.79166666 0.00000000 973.49467525 A-2 0.00000000 0.00000000 3.79166667 0.00000000 985.17446218 M 0.00000000 0.00000000 3.84778500 0.00000000 999.23454700 B-1 0.00000000 0.00000000 3.84778531 0.00000000 999.23454663 B-2 0.00000000 0.00000000 3.84778551 0.00000000 999.23454644 B-3 0.00000000 0.00000000 3.84778544 0.00000000 999.23454754 B-4 0.00000000 0.00000000 3.84778511 0.00000000 999.23454760 B-5 0.00000000 0.00000000 3.84778642 0.00000000 999.23454738 B-6 0.00000000 0.00000000 3.84778592 0.00000000 999.23444602 X 0.00000000 0.00000000 0.05611822 0.00000000 979.44340100 (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.

Delaware	333-120916	30-0183252
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
383 Madison Avenue New York, New York		10l79
(Address of Principal Executive Offices)		(Zip Code)

~~Registrants~~PREPAYMENT/CURTAILMENT ~~telephone~~INTEREST ~~number,~~SHORTFALL ~~including~~Total ~~area~~Prepayment/Curtailment ~~code,~~Interest isShortfall ~~(212)~~0.00 ~~272~~Servicing Fee Support 0.00 Non-~~2000~~Supported Prepayment/Curtailment Interest Shortfall 0.00

~~Check~~SERVICING ~~the~~FEES ~~appropriate~~Gross ~~box~~Servicing ~~below~~Fee if294,676.49 ~~the~~Supported ~~Form~~Prepayment/Curtailment ~~8-K~~Interest ~~filing~~Shortfall is0.00 ~~intended~~Net toServicing ~~simultaneously~~Fee ~~satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A~~294,676.~~2. below):~~49

oLOAN ~~Written~~STATUS ~~communications~~STRATIFICATION/CREDIT ~~pursuant~~ENHANCEMENT toSTATEMENT ~~Rule~~DELINQUENT ~~425~~BANKRUPTCY ~~under~~FORECLOSURE ~~the~~REO ~~Securities~~Total ~~Act~~No ~~(17~~of ~~CFR~~Loans ~~230~~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 1 487,217.~~425)~~67 0.00 0.00 487,217.67 30 Days 19 0 0 0 19 8,851,942.69 0.00 0.00 0.00 8,851,942.69 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 19 1 0 0 20 8,851,942.69 487,217.67 0.00 0.00 9,339,160.36 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 0.035984% 0.000000% 0.000000% 0.035984% 0.035118% 0.000000% 0.000000% 0.035118% 30 Days 0.683699% 0.000000% 0.000000% 0.000000% 0.683699% 0.638035% 0.000000% 0.000000% 0.000000% 0.638035% 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 0.683699% 0.035984% 0.000000% 0.000000% 0.719683% 0.638035% 0.035118% 0.000000% 0.000000% 0.673153%

Delinquency Status By Groups

oDELINQUENT ~~Soliciting~~BANKRUPTCY ~~material~~FORECLOSURE ~~pursuant~~REO toTotal ~~Rule~~1 ~~14a~~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-~~12(b)~~29 ~~under~~Days ~~the~~1 ~~Exchange~~0 ~~Act~~0 ~~(17~~1 ~~CFR~~487,217.67 ~~240~~0.~~14a~~00 0.00 487,217.67 30 Days 8 0 0 0 8 3,673,529.71 0.00 0.00 0.00 3,673,529.71 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 8 1 0 0 9 3,673,529.71 487,217.67 0.00 0.00 4,160,747.38 0-~~12(b))~~29 Days 0.070077% 0.000000% 0.000000% 0.070077% 0.071971% 0.000000% 0.000000% 0.071971% 30 Days 0.560617% 0.000000% 0.000000% 0.000000% 0.560617% 0.542645% 0.000000% 0.000000% 0.000000% 0.542645% 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 0.560617% 0.070077% 0.000000% 0.000000% 0.630694% 0.542645% 0.071971% 0.000000% 0.000000% 0.614615% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 11 0 0 0 11 5,178,412.98 0.00 0.00 0.00 5,178,412.98 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 11 0 0 0 11 5,178,412.98 0.00 0.00 0.00 5,178,412.98 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.813609% 0.000000% 0.000000% 0.000000% 0.813609% 0.728936% 0.000000% 0.000000% 0.000000% 0.728936% 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 0.813609% 0.000000% 0.000000% 0.000000% 0.813609% 0.728936% 0.000000% 0.000000% 0.000000% 0.728936%

oOTHER ~~Pre-commencement~~INFORMATION ~~communications~~Current ~~pursuant~~Period toClass ~~Rule~~A ~~14d-2(b)~~Insufficient ~~under~~Funds ~~the~~0.00 ~~Exchange~~Principal ~~Act~~Balance ~~(17~~of ~~CFR~~Contaminated ~~240~~Properties 0.~~14d-2(b))~~00 Periodic Advance 43,584.95

REO Detail - All Mortgage Loans in REO during Current Period

oSummary ~~Pre~~12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-~~commencement~~04 ~~communications~~0.000% ~~pursuant~~Original toPrincipal ~~Rule~~Balance ~~13e~~0.00 Oct-~~4(c)~~04 ~~under~~0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the ~~Exchange~~above ~~Act~~table ~~(17~~is ~~CFR~~presented ~~240~~graphically on the monthly bond remittance report.~~13e~~ The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-~~4(c))~~04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Item~~REO ~~9.01~~Loan ~~Financial~~Detail ~~Statements~~- ~~and~~All ~~Exhibits~~Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance No REO loans this period.

REO Loan Detail - All Mortgage Loans in REO during Current Period (acontinued) ~~Not~~Current ~~applicable~~Paid Current Approximate Loan Principal To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest No REO loans this period.

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

~~(b)~~Summary ~~Not~~12 ~~applicable~~Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 0 Sep-04 0.000% Original Principal Balance 0.00 Oct-04 0.000% Current Principal Balance 0.00 Nov-04 0.000% Dec-04 0.000% Current Foreclosure Total Jan-05 0.000% Loans in Foreclosure 0 Feb-05 0.000% Original Principal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~(c)~~Foreclosure ~~Exhibits:~~Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance No Foreclosure loans this period.

Exhibit No.	Description
3.1	Amended and Restated Trust Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, Wilmington Trust Company, as Owner Trustee and Wells Fargo Bank, N.A., as Securities Administrator, Certificate Registrar and Certificate Paying Agent.
Exhibit No.	Description
3.2	Grantor Trust Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, Wells Fargo Bank, N.A., as Securities Administrator and U.S. Bank National Association, as Grantor Trustee.
Exhibit No.	Description
4.1	Indenture, dated as of July 14, 2005, among Bear Stearns ARM Trust Series 2005-5, as Issuer, U.S. Bank National Association, as Indenture Trustee and Wells Fargo Bank, N.A., as Securities Administrator.
Exhibit No.	Description
99.1	Servicing Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, EMC Mortgage Corporation, as Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and U.S. Bank National Association, as Grantor Trustee.
Exhibit No.	Description
99.2	Administration Agreement, dated as of July 14, 2005, among Bear Stearns ARM Trust 2005-5, as Issuer, Wells Fargo Bank, N.A., as Securities Administrator, Wilmington Trust Company, as Owner Trustee and Structured Asset Mortgage Investments II Inc., as Depositor.

~~SIGNATURE~~COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.867342% Weighted Average Net Coupon 4.617342% Weighted Average Pass-Through Rate 4.617342% Weighted Average Maturity(Stepdown Calculation) 343 Beginning Scheduled Collateral Loan Count 2,835 Number Of Loans Paid In Full 56 Ending Scheduled Collateral Loan Count 2,779 Beginning Scheduled Collateral Balance 1,414,447,169.82 Ending Scheduled Collateral Balance 1,386,536,628.24 Ending Actual Collateral Balance at 29-Jul-2005 1,387,374,963.36 Monthly P&I Constant 6,819,835.36 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,082,670.34 Unscheduled Principal 26,827,870.88

~~Pursuant~~Miscellaneous toReporting ~~the~~Senior ~~requirements~~Percentage ofGroup ~~the~~I ~~Securities~~95.84 ~~Exchange~~Senior ~~Act~~Percentage ofGroup ~~1934,~~II ~~the~~95.84 ~~Registrant~~Senior ~~has~~Prep. ~~duly~~Percentage ~~caused~~Group ~~this~~I ~~report~~100.00 toSenior bePrep. ~~signed~~Percentage onGroup ~~behalf~~II of100.00 ~~the~~Subordinate ~~Registrant~~Percentage byGroup ~~the~~I ~~undersigned~~4.16 ~~thereunto~~Subordinate ~~duly~~Percentage ~~authorized~~Group II 4.16 Subordinate Prep. Percentage Group I 0.00 Subordinate Prep. Percentage Group II 0.00

~~STRUCTURED~~Group ~~ASSET~~Level ~~MORTGAGE~~Collateral ~~INVESTMENTS~~Statement IIGroup ~~INC~~1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.874903 ~~By:~~4.860057 4.867342 Weighted Average Net Rate 2.312858 4.726325 4.617342 Weighted Average Maturity 337 343 343 Beginning Loan Count 244 2,591 2,835 Loans Paid In Full (1,183) 1,239 56 Ending Loan Count 1,427 1,352 2,779 Beginning Scheduled Balance 67,723,775.54 1,346,723,393.92 1,414,447,169.46 Ending Scheduled Balance 676,385,145.37 710,151,482.87 1,386,536,628.24 Record Date 07/S29/2005 ~~Baron~~07/29/2005 ~~Silverstein~~07/29/2005 ~~Name:~~Principal ~~Baron~~And ~~Silverstein~~Interest ~~Title:~~Constant ~~Vice~~3,552,502.18 ~~President~~3,267,333.18 6,819,835.36 Scheduled Principal 732,998.28 349,672.06 1,082,670.34 Unscheduled Principal 16,927,357.57 9,900,513.31 26,827,870.88 Scheduled Interest 2,819,503.90 2,917,661.12 5,737,165.02 Servicing Fees 144,592.81 150,083.68 294,676.49 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 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 2,674,911.09 2,767,577.44 5,442,488.53 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 4.624903 4.610057 4.617342

~~Dated: July~~Prepayment 29Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Principal Principal Principal Group Count Balance Balance Count Balance Balance 1 37 17,299,959.00 ~~2005~~16,179,613.52 0 0.00 0.00 2 19 9,721,092.00 9,646,828.68 0 0.00 0.00 Total 56 27,021,051.00 25,826,442.20 0 0.00 0.00

~~EXHIBIT~~Prepayment ~~INDEX~~Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Principal Principal Principal Curtailment Group Count Balance Balance Count Balance Balance Amount 1 0 0.00 0.00 0 0.00 0.00 769,349.55 2 0 0.00 0.00 0 0.00 0.00 258,041.59 Total 0 0.00 0.00 0 0.00 0.00 1,027,391.14

Item 601 (a) of Regulation S-K Exhibit No.	Sequentially Numbered Description
3.1	Amended and Restated Trust Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, Wilmington Trust Company, as Owner Trustee and Wells Fargo Bank, N.A., as Securities Administrator, Certificate Registrar and Certificate Paying Agent.
3.2	Grantor Trust Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, Wells Fargo Bank, N.A., as Securities Administrator and U.S. Bank National Association, as Grantor Trustee.
4.1	Indenture, dated as of July 14, 2005, among Bear Stearns ARM Trust Series 2005-5, as Issuer, U.S. Bank National Association, as Indenture Trustee and Wells Fargo Bank, N.A., as Securities Administrator.
99.1	Servicing Agreement, dated as of July 14, 2005, among Structured Asset Mortgage Investments II Inc., as Depositor, EMC Mortgage Corporation, as Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and U.S. Bank National Association, as Grantor Trustee.
99.2	Administration Agreement, dated as of July 14, 2005, among Bear Stearns ARM Trust 2005-5, as Issuer, Wells Fargo Bank, N.A., as Securities Administrator, Wilmington Trust Company, as Owner Trustee and Structured Asset Mortgage Investments II Inc., as Depositor.

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Filing Compare · BEAR STEARNS ARM TRUST, MORTGAGE-BACKED NOTES, SERIES 2005-5