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~~September 2527, 2004

Bear Stearns Asset Backed Securities I LLC
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-113636
(Commission
File Number)

20-0842986
(IRS Employer
Identification No.)

383 Madison Avenue, New York, New York
(Address of principal executive offices)

10179
(Zip Code)

Registrant's telephone number, including area code 212-272-2000

(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))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities I Trust 2004-FR1, Asset-Backed Certificates, Series 2004-FR1, which was made on ~~August~~September 2527, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to section 5.05 of the Pooling and Servicing Agreement for the distribution on ~~August~~September 2527, 2004.

(Exhibit No. Description)

SIGNATURES

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.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT ON BEHALF OF BEAR STEARNS ASSET BACKED SECURITIES I LLC, REGISTRANT

By: /s/ Russell Goldenberg Russell Goldenberg Group Senior Vice President Date: ~~August~~September 30, 2004

Bear Stearns Asset Backed Securities I Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Reporting Package Table of Contents Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Administrator: Rita Lopez 312.904.0351rita.lopez@abnamro.com Analyst: Christine Paidosh 714.259.6207 christine.paidosh@abnamro.com Statement Date: 135 S. LaSalle Street, Suite 1625Chicago, IL 60603USA Statements to CertificateholdersCash Reconciliation SummaryBond Interest ReconciliationShortfall Summary Report Rating Information Asset-Backed Facts ~ 15 Month Loan Status Summary Part IAsset-Backed Facts ~ 15 Month Loan Status Summary Part II Asset-Backed Facts ~ 15 Month Loan Payoff/Loss SummaryHistorical REO ReportRealized Loss Detail Page 2-5Page 6-14Page 15Page 16 Page 17 Page 18-26Page 27-35 Page 36-44Page 45 Page 46 Page(s) Information is available for this issue from the following sources Issue Id: Monthly Data File Name: BS004FR1 BS004FR1_200408_3.ZIP Closing Date: First Payment Date: Rated Final Payment: Date: 30-Jul-0425-Aug-04 25-Aug-34 Parties to The Transaction Issuer: Bear Stearns Asset Backed Securities, Inc. Depositor: Bear Stearns Asset Backed Securities, Inc. Underwriter: Bear, Stearns & Co., Inc. Master Servicer: EMC Mortgage Corporation Rating Agency: Standard & Poor's/Moody's Investors Service, Inc. 800.246.5761 LaSalle Factor Line LaSalle Web Site Servicer Web Site www.emcmortgagecorp.com www.etrustee.net Page 1 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM: Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.085474% 1.615000% 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities I Asset-Backed Certificiates Series 2004-FR1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 346 REMIC II Statement Date: ABN AMRO Acct: 721973.2 1000.000000000 22.534410975 0.000000000 977.465589025 1.213333333 1.825000000% 0.00 0.00 0.000000000 1.68000000% 0.000000000 073879DB1 I-A-1 160,545,000.00 160,545,000.00 3,617,787.01 0.00 156,927,212.99 194,794.60 1000.000000000 0.000000000 0.000000000 1000.000000000 1.422777845 2.115000000% 0.00 0.00 0.000000000 1.97000000% 0.000000000 073879DC9 I-A-2 24,843,000.00 24,843,000.00 0.00 0.00 24,843,000.00 35,346.07 1000.000000000 7.500329414 0.000000000 992.499670586 1.260277802 1.890000000% 0.00 0.00 0.000000000 1.74500000% 0.000000000 073879DD7 II-A 185,420,000.00 185,420,000.00 1,390,711.08 0.00 184,029,288.92 233,680.71 1000.000000000 0.000000000 0.000000000 1000.000000000 1.487777851 2.205000000% 0.00 0.00 0.000000000 2.06000000% 0.000000000 073879DE5 M-1 30,241,000.00 30,241,000.00 0.00 0.00 30,241,000.00 44,991.89 1000.000000000 0.000000000 0.000000000 1000.000000000 1.567221924 2.315000000% 0.00 0.00 0.000000000 2.17000000% 0.000000000 073879DF2 M-2 9,305,000.00 9,305,000.00 0.00 0.00 9,305,000.00 14,583.00 1000.000000000 0.000000000 0.000000000 1000.000000000 1.928333444 2.815000000% 0.00 0.00 0.000000000 2.67000000% 0.000000000 073879DG0 M-3 15,121,000.00 15,121,000.00 0.00 0.00 15,121,000.00 29,158.33 1000.000000000 0.000000000 0.000000000 1000.000000000 2.108889526 3.065000000% 0.00 0.00 0.000000000 2.92000000% 0.000000000 073879DH8 M-4 6,979,000.00 6,979,000.00 0.00 0.00 6,979,000.00 14,717.94 1000.000000000 0.000000000 0.000000000 1000.000000000 2.686666094 3.865000000% 0.00 0.00 0.000000000 3.72000000% 0.000000000 073879DJ4 M-5 5,816,000.00 5,816,000.00 0.00 0.00 5,816,000.00 15,625.65 1000.000000000 0.000000000 0.000000000 1000.000000000 3.011666094 4.315000000% 0.00 0.00 0.000000000 4.17000000% 0.000000000 073879DK1 M-6 5,816,000.00 5,816,000.00 0.00 0.00 5,816,000.00 17,515.85 1000.000000000 0.000000000 0.000000000 1000.000000000 3.950554600 5.615000000% 0.00 0.00 0.000000000 5.47000000% 0.000000000 073879DL9 M-7 4,652,000.00 4,652,000.00 0.00 0.00 4,652,000.00 18,377.98 1000.000000000 0.000000000 0.000000000 1000.000000000 3.950555146 5.615000000% 0.00 0.00 0.000000000 5.47000000% 0.000000000 073879DX3 M-8A 4,071,000.00 4,071,000.00 0.00 0.00 4,071,000.00 16,082.71 1000.000000000 0.000000000 0.000000000 1000.000000000 3.950555146 5.615000000% 0.00 0.00 0.000000000 5.47000000% 0.000000000 073879DY1 M-8B 4,071,000.00 4,071,000.00 0.00 0.00 4,071,000.00 16,082.71 1000.000000000 0.000000000 0.000000000 1000.000002388 226.960462566 0.00 ) (0.02 ) (0.000002388 N/A 0.000000000 073879DT2 CE 8,375,033.16 8,375,033.16 0.00 0.00 8,375,033.18 1,900,801.40 1000.000000000 0.000000000 0.000000000 1000.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879DS4 P 100.00 100.00 0.00 0.00 100.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879DU9 R-I 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879DV7 R-II 0.00 0.00 0.00 0.00 0.00 0.00 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 2 of 46 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM: Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.085474% 1.615000% 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities I Asset-Backed Certificiates Series 2004-FR1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 346 REMIC II Statement Date: ABN AMRO Acct: 721973.2 Total P&I Payment 0.00 ) (0.02 465,255,133.16 465,255,133.16 7,560,256.93 Total 460,246,635.09 5,008,498.09 0.00 2,551,758.84 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 3 of 46 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM: Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.085474% 1.615000% 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities I Asset-Backed Certificiates Series 2004-FR1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 346 REMIC III Statement Date: ABN AMRO Acct: 721973.2 1000.000000000 0.000000000 0.000000000 1000.000002388 226.960462566 0.00 1,900,801.40 226.960462566 N/A 0.000000000 073879DT2 CE 8,375,033.16 8,375,033.16 0.00 0.00 8,375,033.18 1,900,801.40 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABSR379 R-III 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 1,900,801.40 8,375,033.16 8,375,033.16 1,900,801.40 Total 8,375,033.18 0.00 0.00 1,900,801.40 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 4 of 46 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM: Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.085474% 1.615000% 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Bear Stearns Asset Backed Securities I Asset-Backed Certificiates Series 2004-FR1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 346 REMIC IV Statement Date: ABN AMRO Acct: 721973.2 1000.000000000 0.000000000 0.000000000 1000.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879DS4 P 100.00 100.00 0.00 0.00 100.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 073879DW5 R-X 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 0.00 100.00 100.00 0.00 Total 100.00 0.00 0.00 0.00 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 5 of 46 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Interest Summary Total Trustee Fees Available Interest 2,551,758.86 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 370,627.46 0.00 4,637,870.61 0.000.000.00 7,561,769.01 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 465,255,033.16 370,627.46 4,637,870.61 0.000.000.00 460,246,535.09 2,678 21 00 2,657 182,732.75 Extra Principal Trigger Event No 0.00 5,008,498.07 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 2,551,758.86 0.00 4,637,870.61 Less Mod Losses Interest Due Trust Total Trustee Fees ) (1,512.08 2,553,270.94 Total Fees 184,244.83 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 1,512.08 LPMI Fees 0.00 0.000.000.00 0.00 Page 6 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 1 Loans - Fixed Rate - First Lien Interest Summary Total Trustee Fees Available Interest 812,671.65 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 102,296.23 0.00 2,864,107.80 0.000.000.00 3,779,589.71 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 158,162,631.16 102,296.23 2,864,107.80 0.000.000.00 155,196,227.13 615 7 00 608 59,070.10 Extra Principal Trigger Event No 0.00 2,966,404.03 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 812,671.65 0.00 2,864,107.80 Less Mod Losses Interest Due Trust Total Trustee Fees ) (514.03 813,185.68 Total Fees 59,584.13 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 514.03 LPMI Fees 0.00 0.000.000.00 0.00 Page 7 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 1 Loans - Fixed Rate - Second Lien Interest Summary Total Trustee Fees Available Interest 58,674.09 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 7,915.87 0.000.000.000.000.00 66,629.24 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 12,087,741.40 7,915.87 0.000.000.000.00 12,079,825.53 42 0 00 42 5,036.56 Extra Principal Trigger Event No 0.00 7,915.87 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 58,674.09 0.00 0.00 Less Mod Losses Interest Due Trust Total Trustee Fees ) (39.29 58,713.37 Total Fees 5,075.84 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 39.29 LPMI Fees 0.00 0.000.000.00 0.00 Page 8 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 1 Loans - Adjustable Rate (2/6) - First Lien Interest Summary Total Trustee Fees Available Interest 216,943.98 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 37,159.02 0.00 308,633.21 0.000.000.00 562,867.82 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 40,496,454.48 37,159.02 308,633.21 0.000.000.00 40,150,662.25 155 1 00 154 16,753.67 Extra Principal Trigger Event No 0.00 345,792.23 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 216,943.98 0.00 308,633.21 Less Mod Losses Interest Due Trust Total Trustee Fees ) (131.61 217,075.59 Total Fees 16,885.28 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 131.61 LPMI Fees 0.00 0.000.000.00 0.00 Page 9 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 1 Loans - Adjustable Rate (3/6) - First Lien Interest Summary Total Trustee Fees Available Interest 188,332.38 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 36,246.97 0.00 261,427.90 0.000.000.00 486,078.30 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 21,860,692.38 36,246.97 261,427.90 0.000.000.00 21,563,017.51 490 4 00 486 7,876.76 Extra Principal Trigger Event No 0.00 297,674.87 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 188,332.38 0.00 261,427.90 Less Mod Losses Interest Due Trust Total Trustee Fees ) (71.05 188,403.43 Total Fees 7,947.81 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 71.05 LPMI Fees 0.00 0.000.000.00 0.00 Page 10 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 2 Loans - Fixed Rate - First Lien Interest Summary Total Trustee Fees Available Interest 882,325.77 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 108,111.83 0.00 1,167,489.70 0.000.000.00 2,158,440.50 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 157,905,572.12 108,111.83 1,167,489.70 0.000.000.00 156,629,970.59 871 8 00 863 63,379.66 Extra Principal Trigger Event No 0.00 1,275,601.53 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 882,325.77 0.00 1,167,489.70 Less Mod Losses Interest Due Trust Total Trustee Fees ) (513.19 882,838.97 Total Fees 63,892.85 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 513.19 LPMI Fees 0.00 0.000.000.00 0.00 Page 11 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 2 Loans - Fixed Rate - Second Lien Interest Summary Total Trustee Fees Available Interest 45,480.11 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 5,144.36 0.000.000.000.000.00 50,652.71 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 8,688,892.60 5,144.36 0.000.000.000.00 8,683,748.24 44 0 00 44 3,620.37 Extra Principal Trigger Event No 0.00 5,144.36 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 45,480.11 0.00 0.00 Less Mod Losses Interest Due Trust Total Trustee Fees ) (28.24 45,508.35 Total Fees 3,648.61 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 28.24 LPMI Fees 0.00 0.000.000.00 0.00 Page 12 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 2 Loans - Adjustable Rate (2/6) - First Lien Interest Summary Total Trustee Fees Available Interest 322,970.71 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 67,532.14 0.000.000.000.000.00 390,708.85 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 63,382,517.61 67,532.14 0.000.000.000.00 63,314,985.47 335 0 00 335 26,409.38 Extra Principal Trigger Event No 0.00 67,532.14 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 322,970.71 0.00 0.00 Less Mod Losses Interest Due Trust Total Trustee Fees ) (205.99 323,176.71 Total Fees 26,615.38 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 205.99 LPMI Fees 0.00 0.000.000.00 0.00 Page 13 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Statement Date: Cash Reconciliation Summary Group 2 Loans - Adjustable Rate (3/6) - First Lien Interest Summary Total Trustee Fees Available Interest 24,360.18 Fee Summary Total Servicing Fees Principal Summary Scheduled Principal Distribution Unscheduled: Curtailments Prepayments in Full Liquidation Proceeds Repurchase Proceeds Other Principal Proceeds Unscheduled Principal Distribution Remittance Principal Servicer Wire Amount 6,221.04 0.00 36,212.00 0.000.000.00 66,801.90 Pool Balance Summary Beginning PoolScheduled Principal DistributionUnscheduled Principal DistributionDeferred InterestLiquidationsRepurchasesEnding Pool Balance/Amount Count 2,670,531.41 6,221.04 36,212.00 0.000.000.00 2,628,098.37 126 1 00 125 1,102.41 Extra Principal Trigger Event No 0.00 42,433.04 Over Collateralization Amt 8,375,033.16 Less Extra Principal Remittance Interest 0.00 24,360.18 0.00 36,212.00 Less Mod Losses Interest Due Trust Total Trustee Fees ) (8.68 24,368.86 Total Fees 1,111.09 Insurance Premium Reimbursement Amt Class II-A Policy - InterestClass II-A Policy - PrincipalOther Total Reimbursement Amt Rolling 3-Month Delinquency % 0.00 0 0.00 8.68 LPMI Fees 0.00 0.000.000.00 0.00 Page 14 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Class Accrued Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Bond Interest Reconciliation Prior Other Additions Interest Losses Current Cumulative Accrual Risk Carry- Fwd Amt Interest Interest Payment Amount Interest Certificate Interest Losses Shortfall Int. Carry- Proceeds Risk Carry- Certificate Agreement Amt Deposited From YM Method Days Basis Remaining Statement Date: Distributable Prior Applied Realized RemainingInt. Carry- forward Amt Principal PrincipalPrincipal Extra Prepayments Shortfalls NetCap RateY/N 0.00 0.00 I-A-1 26 194,794.60 0.00 194,794.60 194,794.60 Act/360 0.00 0.00 0.00 3,434,168.91 N 0.00 0.00 0.00 0.00 0.00 0.00 I-A-2 26 35,346.07 0.00 35,346.07 35,346.07 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 II-A 26 233,680.71 0.00 233,680.71 233,680.71 Act/360 0.00 0.00 0.00 1,203,701.70 N 0.00 0.00 0.00 0.00 0.00 0.00 M-1 26 44,991.89 0.00 44,991.89 44,991.89 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-2 26 14,583.00 0.00 14,583.00 14,583.00 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-3 26 29,158.33 0.00 29,158.33 29,158.33 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-4 26 14,717.94 0.00 14,717.94 14,717.94 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-5 26 15,625.65 0.00 15,625.65 15,625.65 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-6 26 17,515.85 0.00 17,515.85 17,515.85 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-7 26 18,377.98 0.00 18,377.98 18,377.98 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-8A 26 16,082.71 0.00 16,082.71 16,082.71 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 M-8B 26 16,082.71 0.00 16,082.71 16,082.71 Act/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 CE 30 1,900,801.42 0.00 1,900,801.40 1,900,801.40 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 P 30 0.00 0.00 0.00 0.00 30/360 0.00 0.00 0.00 0.00 N 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,551,758.86 2,551,758.84 2,551,758.84 0.00 0.00 0.00 4,637,870.61 0.00 0.00 0.00 0.00 (2) Principal Prepayments include the Extra Principal Amount 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 15 of 46 (1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Interest Adjustments Summary Statement Date 0.00 0.00 0.00 0.00 Special Servicing Fees Workout Fees Liquidation Fees Legal Fees 0.00 0.00 Misc. Fees & Expenses Paid by/to Servicer Interest Paid to Servicer on Outstanding Advances 0.00 0.00 ASER Interest Advance Reduction Interest Not Advanced (Current Period) Recoup of Prior Advances by Servicer 0.00 0.00 Servicing Fees Paid Servicer on Loans Not Advanced Misc. Fees & Expenses Paid by Trust 0.00 0.00 0.00 Shortfall Due to Rate Modification Total Shortfall Allocated to the Bonds Total Interest Adjustment to the Bonds 0.00 Shortfall Allocated to the Bonds: Excess Allocated to the Bonds: Other Interest Proceeds Due the Bonds Yield Maintenance Penalties Due the Bonds Prepayment Penalties Due the Bonds Recovered ASER Interest Due the Bonds Recovered Interest Due the Bonds Less Total Shortfall Allocated to the Bonds Total Excess Allocated to the Bonds 0.00 0.00 Total Excess Allocated to the Bonds 0.00 0.00 Aggregate Interest Adjustment Allocated to the Bonds 0.00 0.00 0.00 0.00 Prepayment Interest Excess Due the Bonds 0.00 ARD Excess Interest 0.00 Other Interest Loss 0.00 0.00 Net Prepayment Int. Shortfalls Allocated to the Bonds Page 16 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Rating Information Class CUSIP Fitch Moody's S&P Fitch Moody's S&P Original Ratings Rating Change/Change Date(1) Statement Date: R-I 073879DU9 NR NR NR I-A-1 073879DB1 NR Aaa AAA I-A-2 073879DC9 NR Aaa AAA II-A 073879DD7 NR Aaa AAA M-1 073879DE5 NR Aa2 AA+ M-2 073879DF2 NR Aa3 AA M-3 073879DG0 NR A2 A+ M-4 073879DH8 NR A3 A M-5 073879DJ4 NR Baa1 A M-6 073879DK1 NR Baa2 A- M-7 073879DL9 NR Baa3 BBB+ M-8A 073879DX3 NR NR NR M-8B 073879DY1 NR NR NR R-II 073879DV7 NR NR NR CE 073879DT2 NR NR NR R-III 9ABSR379 NR NR NR P 073879DS4 NR NR NR R-X 073879DW5 NR NR NR Page 17 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. NR - Designates that the class was not rated by the rating agency. (1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to LaSalle within 30 days of the payment date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated onthis report, LaSalle recommends that investors obtain current rating information directly from the rating agency. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 2,657 460,246,535 100.00% 100.00% Page 18 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 1 Loans - Fixed Rate - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 608 155,196,227 100.00% 100.00% Page 19 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 1 Loans - Fixed Rate - Second Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 42 12,079,826 100.00% 100.00% Page 20 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 1 Loans - Adjustable Rate (2/6) - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 154 40,150,662 100.00% 100.00% Page 21 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 1 Loans - Adjustable Rate (3/6) - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 486 21,563,018 100.00% 100.00% Page 22 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 2 Loans - Fixed Rate - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 863 156,629,971 100.00% 100.00% Page 23 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 2 Loans - Fixed Rate - Second Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 44 8,683,748 100.00% 100.00% Page 24 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 2 Loans - Adjustable Rate (2/6) - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 335 63,314,985 100.00% 100.00% Page 25 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Group 2 Loans - Adjustable Rate (3/6) - First Lien 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Aug-04 0 0 0 0 0 0 0 0 125 2,628,098 100.00% 100.00% Page 26 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 27 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Fixed Rate - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 28 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Fixed Rate - Second Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 29 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Adjustable Rate (2/6) - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 30 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Adjustable Rate (3/6) - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 31 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Fixed Rate - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 32 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Fixed Rate - Second Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 33 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Adjustable Rate (2/6) - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 34 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Adjustable Rate (3/6) - First Lien Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Aug-04 0 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 Page 35 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds 25-Aug-04 2,657 99.22% 460,246,535 98.92% 0.78% 1.00% 0 0.00% 0 0.00% 346 7.09% 6.58% 21 4,637,871 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 36 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 1 Loans - Fixed Rate - First Lien 25-Aug-04 608 22.70% 155,196,227 33.36% 1.14% 1.81% 0 0.00% 0 0.00% 356 6.67% 6.17% 7 2,864,108 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 37 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 1 Loans - Fixed Rate - Second Lien 25-Aug-04 42 1.57% 12,079,826 2.60% 0.00% 0.00% 0 0.00% 0 0.00% 356 6.33% 5.82% 0 0 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 38 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 1 Loans - Adjustable Rate (2/6) - First Lien 25-Aug-04 154 5.75% 40,150,662 8.63% 0.65% 0.76% 0 0.00% 0 0.00% 351 6.93% 6.43% 1 308,633 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 39 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 1 Loans - Adjustable Rate (3/6) - First Lien 25-Aug-04 486 18.15% 21,563,018 4.63% 0.82% 1.20% 0 0.00% 0 0.00% 221 10.84% 10.34% 4 261,428 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 40 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 2 Loans - Fixed Rate - First Lien 25-Aug-04 863 32.23% 156,629,971 33.67% 0.92% 0.74% 0 0.00% 0 0.00% 356 7.21% 6.71% 8 1,167,490 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 41 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 2 Loans - Fixed Rate - Second Lien 25-Aug-04 44 1.64% 8,683,748 1.87% 0.00% 0.00% 0 0.00% 0 0.00% 356 6.79% 6.28% 0 0 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 42 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 2 Loans - Adjustable Rate (2/6) - First Lien 25-Aug-04 335 12.51% 63,314,985 13.61% 0.00% 0.00% 0 0.00% 0 0.00% 343 6.62% 6.11% 0 0 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 43 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Group 2 Loans - Adjustable Rate (3/6) - First Lien 25-Aug-04 125 4.67% 2,628,098 0.56% 0.79% 1.36% 0 0.00% 0 0.00% 198 11.45% 10.95% 1 36,212 0.00 0.00 0.00 0.00 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 44 of 46 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 Historical Collateral Level REO Report Property Type Statement Date: State Actual Balance Scheduled Balance Recent Appraisal Value Appraisal Reduction Amount Date Liquidated Liquidation Proceeds Liquidation Expenses Realized Loss Disclosure Control # REO Date City Appraisal Date ABN AMRO Acct: 721973.2 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 45 of 46 Bear Stearns Asset Backed Securities I Payment Date:Prior Payment:Next Payment:Record Date: 25-Aug-0425-Aug-04 N/A 27-Sep-04 24-Aug-04 Asset-Backed Certificiates Series 2004-FR1 ABN AMRO Acct: 721973.2 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value BeginningScheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate Liquidation Expenses * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Not Avail. Not Avail. Current TotalCumulative 24-Aug-2004 - 12:05 (R362-R380) (c) 2004 LaSalle Bank N.A. Page 46 of 46 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Bear Stearns Asset Backed Securities I

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Administrator:

Rita Lopez 312.904.0351
rita.lopez@abnamro.com

Analyst:

Christine Paidosh 714.259.6207
christine.paidosh@abnamro.com

Revised Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Shortfall Summary Report

Rating Information

Asset-Backed Facts ~ 15 Month Loan Status Summary Part I
Asset-Backed Facts ~ 15 Month Loan Status Summary Part II

Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Historical REO Report
Realized Loss Detail

Page 2-5
Page 6-14
Page 15
Page 16

Page 17

Page 18-26
Page 27-35

Page 36-44
Page 45

Page 46

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

BS004FR1

BS004FR1_200409_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

30-Jul-04
25-Aug-04

25-Aug-34

Parties to The Transaction

Issuer: Bear Stearns Asset Backed Securities, Inc.

Depositor: Bear Stearns Asset Backed Securities, Inc.

Underwriter: Bear, Stearns & Co., Inc.

Master Servicer: EMC Mortgage Corporation

Rating Agency: Standard & Poor's/Moody's Investors Service, Inc.

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.emcmortgagecorp.com

www.etrustee.net

Page 1 of 46

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.083052%

1.615000%
1.840000%

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities I

Asset-Backed Certificiates

Series 2004-FR1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

345

REMIC II

Revised Date:

ABN AMRO Acct: 721973.2

977.465589025

27.506266779

0.000000000

949.959322246

1.635218475

2.050000000%

0.00

0.000000000

1.82500000%

0.000000000

073879DB1

I-A-1

160,545,000.00

156,927,212.99

4,415,993.60

0.00

152,511,219.39

262,526.15

1000.000000000

0.000000000

1000.000000000

1.938750151

2.340000000%

0.00

0.000000000

2.11500000%

0.000000000

073879DC9

I-A-2

24,843,000.00

0.00

24,843,000.00

48,164.37

992.499670586

22.062119459

0.000000000

970.437551127

1.719505663

2.115000000%

0.00

0.000000000

1.89000000%

0.000000000

073879DD7

II-A

185,420,000.00

184,029,288.92

4,090,758.19

0.00

179,938,530.73

318,830.74

1000.000000000

0.000000000

1000.000000000

2.021249959

2.430000000%

0.00

0.000000000

2.20500000%

0.000000000

073879DE5

M-1

30,241,000.00

0.00

30,241,000.00

61,124.62

1000.000000000

0.000000000

1000.000000000

2.122083826

2.540000000%

0.00

0.000000000

2.31500000%

0.000000000

073879DF2

M-2

9,305,000.00

0.00

9,305,000.00

19,745.99

1000.000000000

0.000000000

1000.000000000

2.580416639

3.040000000%

0.00

0.000000000

2.81500000%

0.000000000

073879DG0

M-3

15,121,000.00

0.00

15,121,000.00

39,018.48

1000.000000000

0.000000000

1000.000000000

2.809583035

3.290000000%

0.00

0.000000000

3.06500000%

0.000000000

073879DH8

M-4

6,979,000.00

0.00

6,979,000.00

19,608.08

1000.000000000

0.000000000

1000.000000000

3.542916094

4.090000000%

0.00

0.000000000

3.86500000%

0.000000000

073879DJ4

M-5

5,816,000.00

0.00

5,816,000.00

20,605.60

1000.000000000

0.000000000

1000.000000000

3.955416094

4.540000000%

0.00

0.000000000

4.31500000%

0.000000000

073879DK1

M-6

5,816,000.00

0.00

5,816,000.00

23,004.70

1000.000000000

0.000000000

1000.000000000

5.147082975

5.840000000%

0.00

0.000000000

5.61500000%

0.000000000

073879DL9

M-7

4,652,000.00

0.00

4,652,000.00

23,944.23

1000.000000000

0.000000000

1000.000000000

5.147084254

5.840000000%

0.00

0.000000000

5.61500000%

0.000000000

073879DX3

M-8A

4,071,000.00

0.00

4,071,000.00

20,953.78

1000.000000000

0.000000000

1000.000000000

5.147084254

5.840000000%

0.00

0.000000000

5.61500000%

0.000000000

073879DY1

M-8B

4,071,000.00

0.00

4,071,000.00

20,953.78

1000.000002388

0.000000000

1000.000002388

196.402747138

0.00

0.000000000

N/A

0.000000000

073879DT2

8,375,033.16

8,375,033.18

0.00

8,375,033.18

1,644,879.52

1000.000000000

0.000000000

1000.000000000

2482730.200000000

0.00

248,273.02

2482730.200000000

N/A

0.000000000

073879DS4

100.00

0.00

100.00

248,273.02

0.000000000

0.00

0.000000000

N/A

0.000000000

073879DU9

R-I

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

073879DV7

R-II

0.00

Page 2 of 46

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.083052%

1.615000%
1.840000%

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities I

Asset-Backed Certificiates

Series 2004-FR1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

345

REMIC II

Revised Date:

ABN AMRO Acct: 721973.2

Total P&I Payment

0.00

248,273.02

465,255,133.16

460,246,635.09

11,278,384.85

Total

451,739,883.30

8,506,751.79

0.00

2,771,633.06

Page 3 of 46

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.083052%

1.615000%
1.840000%

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities I

Asset-Backed Certificiates

Series 2004-FR1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

345

REMIC III

Revised Date:

ABN AMRO Acct: 721973.2

1000.000002388

0.000000000

1000.000002388

196.402747138

0.00

1,644,879.52

196.402747138

N/A

0.000000000

073879DT2

8,375,033.16

8,375,033.18

0.00

8,375,033.18

1,644,879.52

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSR379

R-III

0.00

Total P&I Payment

0.00

1,644,879.52

8,375,033.16

8,375,033.18

1,644,879.52

Total

8,375,033.18

0.00

1,644,879.52

Page 4 of 46

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

7.083052%

1.615000%
1.840000%

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Bear Stearns Asset Backed Securities I

Asset-Backed Certificiates

Series 2004-FR1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

345

REMIC IV

Revised Date:

ABN AMRO Acct: 721973.2

1000.000000000

0.000000000

1000.000000000

2482730.200000000

0.00

248,273.02

2482730.200000000

N/A

0.000000000

073879DS4

100.00

0.00

100.00

248,273.02

0.000000000

0.00

0.000000000

N/A

0.000000000

073879DW5

R-X

0.00

Total P&I Payment

0.00

248,273.02

100.00

248,273.02

Total

100.00

0.00

248,273.02

Page 5 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary

Interest Summary

Total Trustee Fees

Available Interest

2,771,633.06

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

366,161.78

0.00

8,140,590.01

0.00
0.00
0.00

11,279,880.65

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

460,246,535.09

366,161.78

8,140,590.01

0.00
0.00
0.00

451,739,783.30

2,657

0
0

2,618

191,769.39

Extra Principal

Trigger Event

0.00

8,506,751.79

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

2,771,633.06

0.00

8,140,590.01

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(1,495.80

2,773,128.86

Total Fees

193,265.19

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

1,495.80

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 6 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 1 Loans - Fixed Rate - First Lien

Interest Summary

Total Trustee Fees

Available Interest

797,036.32

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

99,912.22

0.00

3,632,499.72

0.00
0.00
0.00

4,529,952.65

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

155,196,227.13

99,912.22

3,632,499.72

0.00
0.00
0.00

151,463,815.19

608

0
0

596

64,665.09

Extra Principal

Trigger Event

0.00

3,732,411.94

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

797,036.32

0.00

3,632,499.72

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(504.39

797,540.71

Total Fees

65,169.48

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

504.39

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 7 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 1 Loans - Fixed Rate - Second Lien

Interest Summary

Total Trustee Fees

Available Interest

58,635.97

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

7,957.30

0.00
0.00
0.00
0.00
0.00

66,632.53

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

12,079,825.53

7,957.30

0.00
0.00
0.00
0.00

12,071,868.23

0
0

5,033.26

Extra Principal

Trigger Event

0.00

7,957.30

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

58,635.97

0.00

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(39.26

58,675.23

Total Fees

5,072.52

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

39.26

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 8 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 1 Loans - Adjustable Rate (2/6) - First Lien

Interest Summary

Total Trustee Fees

Available Interest

215,080.60

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

37,159.67

0.00

249,171.47

0.00
0.00
0.00

501,542.23

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

40,150,662.25

37,159.67

249,171.47

0.00
0.00
0.00

39,864,331.11

154

0
0

153

16,729.44

Extra Principal

Trigger Event

0.00

286,331.14

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

215,080.60

0.00

249,171.47

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(130.49

215,211.09

Total Fees

16,859.93

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

130.49

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 9 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 1 Loans - Adjustable Rate (3/6) - First Lien

Interest Summary

Total Trustee Fees

Available Interest

185,647.14

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

36,095.57

0.00

353,197.65

0.00
0.00
0.00

575,010.44

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

21,563,017.51

36,095.57

353,197.65

0.00
0.00
0.00

21,173,724.29

486

0
0

481

8,984.59

Extra Principal

Trigger Event

0.00

389,293.22

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

185,647.14

0.00

353,197.65

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(70.08

185,717.22

Total Fees

9,054.67

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

70.08

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 10 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 2 Loans - Fixed Rate - First Lien

Interest Summary

Total Trustee Fees

Available Interest

874,864.56

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

106,494.13

0.00

3,128,012.61

0.00
0.00
0.00

4,109,880.35

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

156,629,970.59

106,494.13

3,128,012.61

0.00
0.00
0.00

153,395,463.85

863

0
0

847

65,262.49

Extra Principal

Trigger Event

0.00

3,234,506.74

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

874,864.56

0.00

3,128,012.61

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(509.05

875,373.61

Total Fees

65,771.54

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

509.05

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 11 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 2 Loans - Fixed Rate - Second Lien

Interest Summary

Total Trustee Fees

Available Interest

45,453.28

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

4,883.35

0.00

286,290.79

0.00
0.00
0.00

336,655.65

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

8,683,748.24

4,883.35

286,290.79

0.00
0.00
0.00

8,392,574.10

0
0

3,618.23

Extra Principal

Trigger Event

0.00

291,174.14

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

45,453.28

0.00

286,290.79

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(28.22

45,481.51

Total Fees

3,646.45

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

28.22

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 12 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 2 Loans - Adjustable Rate (2/6) - First Lien

Interest Summary

Total Trustee Fees

Available Interest

322,632.85

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

67,413.88

0.00

484,086.50

0.00
0.00
0.00

874,339.01

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

63,314,985.47

67,413.88

484,086.50

0.00
0.00
0.00

62,763,485.09

335

0
0

332

26,381.24

Extra Principal

Trigger Event

0.00

551,500.38

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

322,632.85

0.00

484,086.50

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(205.77

322,838.63

Total Fees

26,587.02

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

205.77

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 13 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Revised Date:

Cash Reconciliation Summary Group 2 Loans - Adjustable Rate (3/6) - First Lien

Interest Summary

Total Trustee Fees

Available Interest

24,009.31

Fee Summary

Total Servicing Fees

Principal Summary

Scheduled Principal Distribution

Unscheduled:

Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Unscheduled Principal Distribution

Remittance Principal

Servicer Wire Amount

6,245.66

0.00

7,331.27

0.00
0.00
0.00

37,594.78

Pool Balance Summary

Beginning Pool
Scheduled Principal Distribution
Unscheduled Principal Distribution
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance/Amount

Count

2,628,098.37

6,245.66
7,331.27

0.00
0.00
0.00

2,614,521.44

125

0
0

124

1,095.04

Extra Principal

Trigger Event

0.00

13,576.93

Over Collateralization Amt

8,375,033.18

Less Extra Principal

Remittance Interest

0.00

24,009.31

0.00

7,331.27

Less Mod Losses

Interest Due Trust

Total Trustee Fees

)

(8.54

24,017.85

Total Fees

1,103.58

Insurance Premium

Reimbursement Amt

Class II-A Policy - Interest
Class II-A Policy - Principal
Other

Total Reimbursement Amt

Rolling 3-Month Delinquency

0.00

8.54

LPMI Fees

0.00

0.00
0.00
0.00

0.00

Page 14 of 46

Bear Stearns Asset Backed Securities I

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04
24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Bond Interest Reconciliation

Prior

Other

Additions

Interest

Losses

Current

Cumulative

Accrual

Risk Carry-

Fwd Amt

Interest

Payment

Amount

Interest

Certificate

Interest

Losses

Shortfall

Int. Carry-

Proceeds

Risk Carry-

Certificate

Agreement

Amt Deposited

From YM

Method Days

Basis

Remaining

Revised Date:

Distributable

Prior

Applied Realized

Remaining
Int. Carry-

forward Amt

Principal

Principal
Principal

Extra

Prepayments

Shortfalls

Net
Cap

Rate
Y/N

0.00

I-A-1

262,526.15

0.00

262,526.15

Act/360

0.00

4,234,868.84

0.00

I-A-2

48,164.37

0.00

48,164.37

Act/360

0.00

II-A

318,830.74

0.00

318,830.74

Act/360

0.00

3,905,721.17

0.00

M-1

61,124.62

0.00

61,124.62

Act/360

0.00

M-2

19,745.99

0.00

19,745.99

Act/360

0.00

M-3

39,018.48

0.00

39,018.48

Act/360

0.00

M-4

19,608.08

0.00

19,608.08

Act/360

0.00

M-5

20,605.60

0.00

20,605.60

Act/360

0.00

M-6

23,004.70

0.00

23,004.70

Act/360

0.00

M-7

23,944.23

0.00

23,944.23

Act/360

0.00

M-8A

20,953.78

0.00

20,953.78

Act/360

0.00

M-8B

20,953.78

0.00

20,953.78

Act/360

0.00

1,644,879.52

0.00

1,644,879.52

0.00

248,273.02

30/360

0.00

2,523,360.04

2,771,633.06

0.00

8,140,590.01

0.00

(2) Principal Prepayments include the Extra Principal Amount

Page 15 of 46

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04
24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Interest Adjustments Summary

Revised Date:

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

248,273.02

248,273.02

Total Excess Allocated to the Bonds

248,273.02

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

248,273.02

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Page 16 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Revised Date:

R-I

073879DU9

I-A-1

073879DB1

Aaa

AAA

I-A-2

073879DC9

Aaa

AAA

II-A

073879DD7

Aaa

AAA

M-1

073879DE5

Aa2

AA+

M-2

073879DF2

Aa3

M-3

073879DG0

A+

M-4

073879DH8

M-5

073879DJ4

Baa1

M-6

073879DK1

Baa2

A-

M-7

073879DL9

Baa3

BBB+

M-8A

073879DX3

M-8B

073879DY1

R-II

073879DV7

073879DT2

R-III

9ABSR379

073879DS4

R-X

073879DW5

Page 17 of 46

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be
understood that this transmission will generally have been provided to LaSalle within 30 days of the payment date listed on this statement. Because ratings may have changed during the 30
day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on
this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

3.40%

3.26%

0.19%

0.17%

0.04%

162,107

0.04%

0.00%

27-Sep-04

14,712,281

789,295

2,523

436,076,101

96.37%

96.53%

0.00%

25-Aug-04

2,657

460,246,535

100.00%

Page 18 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 1 Loans - Fixed Rate - First Lien

3.36%

3.03%

0.17%

0.12%

0.00%

27-Sep-04

4,583,415

184,000

575

146,696,400

96.48%

96.85%

0.00%

25-Aug-04

608

155,196,227

100.00%

Page 19 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 1 Loans - Fixed Rate - Second Lien

2.38%

2.11%

0.00%

27-Sep-04

255,229

11,816,639

97.62%

97.89%

0.00%

25-Aug-04

12,079,826

100.00%

Page 20 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 1 Loans - Adjustable Rate (2/6) - First Lien

3.92%

2.96%

0.00%

27-Sep-04

1,178,236

147

38,686,095

96.08%

97.04%

0.00%

25-Aug-04

154

40,150,662

100.00%

Page 21 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 1 Loans - Adjustable Rate (3/6) - First Lien

2.70%

2.10%

0.42%

0.85%

0.00%

27-Sep-04

443,815

180,379

466

20,549,531

96.88%

97.05%

0.00%

25-Aug-04

486

21,563,018

100.00%

Page 22 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 2 Loans - Fixed Rate - First Lien

3.66%

3.86%

0.12%

0.19%

0.12%

162,107

0.11%

0.00%

27-Sep-04

5,922,481

290,549

814

147,020,327

96.10%

95.84%

0.00%

25-Aug-04

863

156,629,971

100.00%

Page 23 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 2 Loans - Fixed Rate - Second Lien

6.98%

6.91%

0.00%

27-Sep-04

579,834

7,812,740

93.02%

93.09%

0.00%

25-Aug-04

8,683,748

100.00%

Page 24 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 2 Loans - Adjustable Rate (2/6) - First Lien

3.01%

2.57%

0.30%

0.21%

0.00%

27-Sep-04

1,616,130

134,367

321

61,012,989

96.69%

97.21%

0.00%

25-Aug-04

335

63,314,985

100.00%

Page 25 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Group 2 Loans - Adjustable Rate (3/6) - First Lien

4.03%

5.09%

0.00%

27-Sep-04

133,140

119

2,481,381

95.97%

94.91%

0.00%

25-Aug-04

125

2,628,098

100.00%

Page 26 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 27 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Fixed Rate - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 28 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Fixed Rate - Second Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 29 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Adjustable Rate (2/6) - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 30 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 1 Loans - Adjustable Rate (3/6) - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 31 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Fixed Rate - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 32 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Fixed Rate - Second Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 33 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Adjustable Rate (2/6) - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 34 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Group 2 Loans - Adjustable Rate (3/6) - First Lien

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Sep-04

0.00%

0.00% 0.00%

0.00%

25-Aug-04

0.00%

0.00% 0.00%

0.00%

Page 35 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

27-Sep-04

2,618

97.76%

451,739,783

97.10%

1.47%

1.77%

0.00%

345

7.08%

6.58%

8,140,590

0.00

25-Aug-04

2,657

99.22%

460,246,535

98.92%

0.78%

1.00%

0.00%

346

7.09%

6.58%

4,637,871

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 36 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 1 Loans - Fixed Rate - First Lien

27-Sep-04

596

22.26%

151,463,815

32.56%

1.97%

2.34%

0.00%

355

6.67%

6.16%

3,632,500

0.00

25-Aug-04

608

22.70%

155,196,227

33.36%

1.14%

1.81%

0.00%

356

6.67%

6.17%

2,864,108

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 37 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 1 Loans - Fixed Rate - Second Lien

27-Sep-04

1.57%

12,071,868

2.59%

0.00%

355

6.33%

5.82%

0.00

25-Aug-04

1.57%

12,079,826

2.60%

0.00%

356

6.33%

5.82%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 38 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 1 Loans - Adjustable Rate (2/6) - First Lien

27-Sep-04

153

5.71%

39,864,331

8.57%

0.65%

0.62%

0.00%

350

6.93%

6.43%

249,171

0.00

25-Aug-04

154

5.75%

40,150,662

8.63%

0.65%

0.76%

0.00%

351

6.93%

6.43%

308,633

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 39 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 1 Loans - Adjustable Rate (3/6) - First Lien

27-Sep-04

481

17.96%

21,173,724

4.55%

1.03%

1.64%

0.00%

220

10.84%

10.33%

353,198

0.00

25-Aug-04

486

18.15%

21,563,018

4.63%

0.82%

1.20%

0.00%

221

10.84%

10.34%

261,428

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 40 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 2 Loans - Fixed Rate - First Lien

27-Sep-04

847

31.63%

153,395,464

32.97%

1.85%

2.00%

0.00%

355

7.21%

6.70%

3,128,013

0.00

25-Aug-04

863

32.23%

156,629,971

33.67%

0.92%

0.74%

0.00%

356

7.21%

6.71%

1,167,490

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 41 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 2 Loans - Fixed Rate - Second Lien

27-Sep-04

1.61%

8,392,574

1.80%

2.27%

3.30%

0.00%

355

6.79%

6.28%

286,291

0.00

25-Aug-04

1.64%

8,683,748

1.87%

0.00%

356

6.79%

6.28%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 42 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 2 Loans - Adjustable Rate (2/6) - First Lien

27-Sep-04

332

12.40%

62,763,485

13.49%

0.90%

0.76%

0.00%

342

6.62%

6.11%

484,087

0.00

25-Aug-04

335

12.51%

63,314,985

13.61%

0.00%

343

6.62%

6.11%

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 43 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Group 2 Loans - Adjustable Rate (3/6) - First Lien

27-Sep-04

124

4.63%

2,614,521

0.56%

0.80%

0.28%

0.00%

198

11.47%

10.96%

7,331

0.00

25-Aug-04

125

4.67%

2,628,098

0.56%

0.79%

1.36%

0.00%

198

11.45%

10.95%

36,212

0.00

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 44 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

Historical Collateral Level REO Report

Property

Type

Revised Date:

State

Actual

Balance

Scheduled

Balance

Recent

Appraisal

Value

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Realized

Loss

Disclosure

Control #

REO

Date

City

Appraisal

Date

ABN AMRO Acct: 721973.2

Page 45 of 46

Bear Stearns Asset Backed Securities I

Payment Date:
Prior Payment:
Next Payment:
Record Date:

29-Sep-04
27-Sep-04

25-Aug-04

25-Oct-04

24-Sep-04

Asset-Backed Certificiates

Series 2004-FR1

ABN AMRO Acct: 721973.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation

Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Revised Date:

Not Avail.

Current Total
Cumulative

Page 46 of 46

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

Filing Compare · BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2004-FR1