UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-K

(Mark one)

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2003

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Commission File Number: 333-91334-10

Bear Stearns Asset Backed Securities Trust
Asset-Backed Certificates
Series 2003-3

(Exact name of registrant as specified in its charter)

New York 54-2126362
54-2126363
54-2126364
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

c/o Wells Fargo Bank, N.A.,
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (410) 884-2000

Securities registered pursuant to Section 12(b) of the Act:

NONE.

Securities registered pursuant to Section 12(g) of the Act:

NONE.

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

Yes X No ___

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.

Not applicable.

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Exchange Act Rule 12b-2).
Yes___ No X

State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which
the common equity was last sold, or the average bid and asked price of
such common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter.

Not applicable.

Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.

Not applicable.

List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the
document is incorporated: (1)Any annual report to security holders; (2)
Any proxy or information statement; and (3)Any prospectus filed pursuant
to Rule 424(b) or (c) under the Securities Act of 1933. The listed
documents should be clearly described for identification purposes (e.g.
annual report to security holders for fiscal year ended December 24, 1980).

Not applicable.

PART I

Item 1. Business.

Omitted.

Item 2. Properties.

See Item 15(a) Exhibits 99.1, 99.2, and 99.3, for information
provided in lieu of information required by Item 102 of
Regulation S-K.

Item 3. Legal Proceedings.

The registrant knows of no material pending legal proceedings
involving the trust created under the Pooling and Servicing
Agreement (the Trust), the Trustee, the Servicer or the
registrant with respect to the Trust other than routine
litigation incidental to the duties of the respective parties.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters.

No established public trading market for the Certificates exists.

Records provided to the Trust by the DTC and the Trustee
indicate that as of December 31, 2003, the number of holders of
record for each class of Certificate were as follows:

Class A-1 5
Class A-2 12
Class A-IO 4
Class B 4
Class B-IO 1
Class M-1 4
Class M-2 6
Class R-1 1
Class R-2 1
Class R-3 1

Total: 39

Item 6. Selected Financial Data.

Omitted.

Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.

Omitted.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

Item 8. Financial Statements and Supplementary Data.

See Item 15(a) Exhibits 99.1, 99.2, 99.3, for information
provided in lieu of information required by Item 302 of
Regulation S-K.

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

None.

Item 9A. Controls and Procedures.

Not applicable.

PART III

Item 10. Directors and Executive Officers of the Registrant.

Not applicable.

Item 11. Executive Compensation.

Not applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

Not applicable.

Item 13. Certain Relationships and Related Transactions.

Not applicable.

Item 14. Principal Accounting Fees and Services.

Not applicable.

PART IV

Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

(a) Exhibits

(31.1) Rule 13a-14(a)/15d-14(a) Certification

(99.1) Annual Independent Accountants' Servicing Reports concerning
servicing activities for the year ended December 31, 2003.

<s> <c>
a) EMC Mortgage Corp, as Servicer <F1>
b) Irwin Union Bank and Trust, as Servicer <F1>

(99.2) Report of Management as to Compliance with Minimum Servicing
Standards for the year ended December 31, 2003.

<s> <c>
a) EMC Mortgage Corp, as Servicer <F1>
b) Irwin Union Bank and Trust, as Servicer <F1>

(99.3) Annual Statements of Compliance under the Pooling and Servicing
Agreements for the year ended December 31, 2003.

<s> <c>
a) EMC Mortgage Corp, as Servicer <F1>
b) Irwin Union Bank and Trust, as Servicer <F1>

(99.4) Aggregate Statement of Principal and Interest Distributions to
Certificate Holders.

(b) On November 10, 2003, December 09, 2003, and January 08, 2004
reports on Form 8-K were filed by the Company in order to provide
the statements for the monthly distributions to holders of the
Certificates. No other reports on Form 8-K have been filed during
the last quarter of the period covered by this report.

On January 8, 2004, report on Form 8-K/A was filed by the Company
for October 2003 distributions

(d) Omitted.

<F1> Filed herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized:

Bear Stearns Asset Backed Securities Trust
Asset-Backed Certificates
Series 2003-3 Trust
(Registrant)

Signed: Wells Fargo Bank, N.A. as Master Servicer

By: Brett Handelman, Vice President

By: /s/ Brett Handelman, Vice President

Dated: March 30, 2004

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

(a)(i) No annual report is provided to the Certificateholders other than
with respect to aggregate principal and interest distributions.

(a)(ii) No proxy statement, form of proxy or other proxy soliciting
material has been sent to any Certificateholder with respect to any
annual or other meeting of Certificateholders.

Exhibit Index.

Exhibit No.

Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification

I, Brett Handelman, certify that:

1. I have reviewed this annual report on Form 10-K, and all reports on
Form 8-K containing distribution or servicing reports filed in
respect of periods included in the year covered by this annual report,
of Bear Stearns Asset Backed Securities Trust Asset-Backed
Certificates, Series 2003-3 Trust;

2. Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made,
not misleading as of the last day of the period covered by this
annual report;

3. Based on my knowledge, the distribution or servicing information
required to be provided to the Trustee by the Servicer under the
Pooling and Servicing or similar, agreement, for inclusion in these
reports is included in these reports;

4. I am responsible for reviewing the activities performed by the master
servicer under the pooling and servicing, or similar, agreement, and
based on upon my knowledge and the annual compliance review required
under that agreement, and except as disclosed in the reports, the
master servicer has fulfilled its obligations under that agreement;
and

5. The reports disclose all significant deficiencies relating to the
servicer's compliance with the minimum servicing standards based upon
the report provided by an independent public accountant, after
conducting a review in compliance with the Uniform Single Attestation
Program for Mortgage Bankers or similar procedure, as set forth in
the pooling and servicing, or similar, agreement, that is included in
these reports.

In giving the certifications above, I have reasonably relied on
information provided to me by the following unaffiliated parties: EMC
Mortgage Corp as Servicer, Irwin Union Bank and Trust as Servicer.

Date: March 30, 2004

/s/ Brett Handelman
Signature

Vice President
Title

Ex-99.1 (a)

(logo) Deloitte

Deloitte & Touche LLP
750 College Road East
Third Floor
Princeton, NJ 08540
USA
Tel: +16095143600
www.deloitte.com

INDEPENDENT ACCOUNTANTS' REPORT

Board of Directors and Stockholder
EMC Mortgage Corporation

We have examined EMC Mortgage Corporation (the "Company") (a wholly owned
subsidiary of The Bear Stearns Companies Inc.) compliance with its established
servicing standards described in the accompanying Management's Assertion, dated
February 13, 2004, as of and for the year ended November 30, 2003. Management
is responsible for compliance with those minimum servicing standards.
Our responsibility is to express an opinion on the Company's compliance
based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about the Company's
compliance with its minimum servicing standards and performing such other
procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does
not provide a legal determination on the Company's compliance with the minimum
servicing standards.

Our examination disclosed the following material noncompliance with the
reconciliation of custodial bank accounts applicable to the Company during the
year ended November 30, 2003. In two of the twenty-two custodial bank accounts
selected for testing, the reconciliations included three items totaling
approximately $258,000 that were older than ninety days.

In our opinion, except for the material noncompliance described in the preceding
paragraph, the Company complied, in all material respects, with the
aforementioned minimum servicing standards as of and for the year ended November
30, 2003, as set forth in Appendix I.

/s/ Deloite & Touche LLP
February 13,2004

Member of
Deloitte Touche Tohmatsu

Ex-99.1 (b)

PRICEWATERHOUSECOOPERS (LOGO)

PricewaterhouseCoopers LLP
Suite 1200
650 Third Avenue South
Minneapolis MN 55402
Telephone (612) 596-6000
Facsimile (612) 373-7160

Report of Independent Auditors

To the Board of Directors and Stockholders of Irwin Financial Corporation:

We have examined management's assertion about Irwin Financial Corporation and
its subsidiaries, including Irwin Home Equity (the "Company") compliance with
the minimum servicing standards identified in the Mortgage Bankers Association
of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as
of and for the year ended December 31, 2003 included in the accompanying
management assertion (see Exhibit I). Management is responsible for the
Company's compliance with those minimum servicing standards. Our responsibility
is to express an opinion on management's assertion about the Company's
compliance based on our examination.

Our examination was made in accordance with attestation standards established by
the American Institute of Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence about the Company's compliance
with the minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Company's compliance with the minimum servicing
standards.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2003 is fairly stated, in all material respects.

/s/ PricewaterhouseCoopers LLP

February 19, 2004

Ex-99.2 (a)

EMC (logo)
Mortgage Corporation

MANAGEMENT'S ASSERTION

As of and for the year ended November 30, 2003, EMC Mortgage Corporation (the
"Company")(a wholly owned subsidiary of The Bear Stearns Companies, Inc.), has
complied, in all material respects, except as described in the following
paragraph, with the Company's established minimum servicing standards for
residential mortgage loans as set forth in Appendix I (the "Standards"). The
Standards are based on the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers.

In two of the twenty-two custodial bank accounts selected for testing, the
reconciliations included three items totaling approximately $258,000 that were
older than ninety days. As of and for this same period, the Company had in
effect a fidelity bond in the amount of $200,000,000 and $100,000,000 for the
periods from December 1, 2002 to September 29, 2003 and from September 30, 2003
to November 30, 2003, respectively, and an errors and omissions policy in the
amount of $10,000,000 and $15,000,000 for the periods from December 1, 2002 to
February 24, 2003 and from February 25, 2003 to November 30, 2003, respectively.

/s/ Ralene Ruyle 2-13-04
Ralene Ruyle, President Date

/s/ Scott D. Samlin, 2-13-04
Scott D. Samlin, Executive Vice President Date

/s/ Dana Dillard 2-13-04
Dana Dillard, Senior Vice President Date

Two MacArthur Ridge, 909 Hidden Ridge Drive, Suite 200
Irving, Texas 75038
Mailing Address: P.O. Box 141358, Irving, Texas 75014-1358

MBA
Member
Mortgage Bankers
Association of America (logo)

APPENDIX I

MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION
OF AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS

I. CUSTODIAL BANK ACCOUNTS

1. Reconciliations shall be prepared on a monthly basis for all custodial bank
accounts and related bank clearing accounts. These reconciliations shall:

. be mathematically accurate;
. be prepared within forty-five (45) calendar days after the cutoff
date;
. be reviewed and approved by someone other than the person who
prepared the reconciliation; and
. document explanations for reconciling items. These reconciling
items shall be resolved within ninety (90) calendar days of their
original identification.

2. Funds of the servicing entity shall be advanced in cases where there is an
overdraft in an investor's or a mortgagor's account.

3. Each custodial account shall be maintained at a federally insured depository
institution in trust for the applicable investor.

4. Escrow funds held in trust for a mortgagor shall be returned to the mortgage
within thirty (30) calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

1. Mortgage payments shall be deposited into the custodial bank accounts and
related bank clearing accounts within two business days of receipt.

2. Mortgage payments made in accordance with the mortgagor's loan documents
shall be posted to the applicable mortgagor records within two business
days of receipt.

3. Mortgage payments shall be allocated to principal, interest, insurance,
taxes or other escrow items in accordance with the mortgagor's loan
documents.

4. Mortgage payments identified as loan payoffs shall be allocated in
accordance with the mortgagor's loan documents.

III. DISBURSEMENTS

1. Disbursements made via wire transfer on behalf of a mortgagor or investor
shall be made only by authorized personnel.

2. Disbursements made on behalf of a mortgagor or investor shall be posted
within two business days to the mortgagor's or investor's records maintained
by the servicing entity.

3. Tax and insurance payments shall be made on or before the penalty or
insurance policy expiration dates, as indicated on tax bills and insurance
premium notices, respectively, provided that such support has been received
by the servicing entity at least thirty (30) calendar days prior to these
dates.

4. Any late payment penalties paid in conjunction with the payment of any tax
bill or insurance premium notice shall be paid from the servicing entity's
funds and not charged to the mortgagor, unless the late payment was due to
the mortgagor's error or omission.

5. Amounts remitted to investors per the servicer's investor reports shall
agree with cancelled checks, or other form of payment, or custodial bank
statements.

6. Unused checks shall be safeguarded so as to prevent unauthorized access.

IV. INVESTOR ACCOUNTING AND REPORTING

1. The servicing entity's investor reports shall agree with, or reconcile to,
investors' records on a monthly basis as to the total unpaid principal
balance and number of loans serviced by the servicing entity.

V. MORTGAGE LOAN ACCOUNTING

1. The servicing entity's mortgage loan records shalagree with, or
reconcile to, the records of mortgagors with respect to the unpaid
principal balance on a monthly basis.

2. Adjustments on ARM loans shall be computed based on the related mortgage
note and any ARM rider.

3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan
documents, on at least an annual basis.

4. Interest on escrow accounts shall be paid, or credited, to mortgagors in
accordance with the applicable state laws.

VI. DELINQUENCIES

1. Records documenting collection efforts shall be maintained during the
period a loan is in default and shall be updated at least monthly. Such
records shall describe the entity's activities in monitoring delinquent
loans including, for example, phone calls, letters and mortgage payment
rescheduling plans in cases where the delinquency is deemed temporary
(e.g., illness or unemployment).

VII. INSURANCE POLICIES

1. A fidelity bond and errors and omissions policy shall be in effect on the
servicing entity throughout the reporting period in the amount of coverage
represented to investors in management's assertion.

Ex-99.2 (b)

Irwin (logo)
Home Equity

Irwin Home Equity
12677 Alcosta Blvd.
Suite 500
San Ramon, CA 94583-4427
925.277.2001
925.277.0841 Fax

Management's Assertion Concerning Compliance
with USAP Minimum Servicing Standards

As of and for the year ended December 31, 2003, Irwin Home Equity, a majority
owned subsidiary of Irwin Union Bank and Trust Company have complied in all
material respects with the minimum servicing standards as set forth in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers ("USAP").

As of and for this same period the Company had in effect a fidelity bond and
errors and omissions policy in the amounts of $34,000,000 and $20,000,000
respectively.

/s/ Edwin K. Corbin
Edwin K. Corbin
Chief Financial Officer

/s/ Jocelyn Martin-Leano
Jocelyn Martin-Leano
Senior Vice President-Loan Servicing

an Irwin Financial Company

Ex-99.3 (a)

Exhibit" A"

Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045
Attention: Master Servicing

RE: Officer's Certificate

Dear Master Servicer:

The undersigned Officer certifies the following for the 2003 fiscal year:

(A) I have reviewed the activities and performance of the Servicer during the
preceding fiscal year under the ten DS of the Servicing Agreement, Trust
Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to
the best of these Officers' knowledge, the Servicer has fulfilled all of its
duties, responsibilities or obligations under these Agreements throughout such
year, or if there has been a default or failure of the servicer to perform any
of such duties, responsibilities or obligations, a description of each default
or failure and the nature and status thereof has been reported to Wells Fargo
Bank Minnesota, N.A.;

(B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC
servicer in good standing;

(C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance
Policy and any other bonds required under the terms of the Servicing Agreement,
Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide
are in full force and effect;

(D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if
applicable) and Primary Mortgage Insurance Policy (if applicable), with respect
to each Mortgaged Property, have been paid and that all such insurance policies
are in full force and effect;

(E) All real estate taxes, governmental assessments and any other expenses
accrued and due, that if not paid could result in a lien or encumbrance on any
Mortgaged Property, have been paid, or if any such costs or expenses have not
been paid with respect to any Mortgaged Property, the reason for the non-payment
has been reported to Wells Fargo Bank Minnesota, N.A.;

(F) All Custodial Accounts have been reconciled and are properly funded; and

(G) All annual reports of Foreclosure and Abandonment of Mortgage Property
required per section 6050H, 6050J and 6050P of the Internal Revenue Code,
respectively, have been prepared and filed. Certified by

/s/ Daua Dillarard

Officer

Senior Vice President
Title

Ex-99.3 (b)

OFFICER'S CERTIFICATE OF THE COMPANY ANNUAL STATEMENT AS TO COMPLIANCE

The undersigned, each a duly authorized representative of Irwin Union Bank and
Trust Company as the Company (the "Company") pursuant to the Purchase,
Warranties and Servicing Agreement (the "PW&S Agreement") dated as of January
1, 2003, by and among EMC Mortgage Corporation as Purchaser, and Irwin Union
Bank and Trust Company, as the Company (as such agreement may be amended,
supplemented or otherwise modified, from time to time), do hereby certify as
follows:

A. Capitalized terms used in this Certificate have their respective meanings
set forth in the PW&S Agreement. References herein to certain Sections and
Subsections are references to the respective Sections and Subsections of the
PW&S Agreement.

B. This Certificate is being delivered pursuant to Section 6.04 of the PW&S
Agreement to the Purchaser and the Master Servicer, Wells Fargo Bank
Minnesota, National Association named under the Pooling and Servicing
Agreement dated as of February 1, 2003 by and among Bear Stearns Asset
Backed Securities, Inc. as Depositor, EMC Mortgage Corporation as Seller and
Servicer, Wells Fargo Bank Minnesota, National Association as Master Servicer
and Securities Administrator and JPMorgan Chase Bank as Trustee that was
entered into to create a common law trust with the Trust Fund referred to as
Bear Stearns Asset Backed Trust 2003-1.

C. The Company is the Company under the PW&S Agreement.

D. The undersigned are duly authorized Officers of the Company.

E. A review of the activities of the Company during the 2003 fiscal year and of
its performance under the PW&S Agreement as the PW&S Agreement applies to
loans that are assets of the Bear Stearns Asset Backed Trust 2003-1 has been
made under our supervision.

F. To the best of our knowledge, based on the above-mentioned review, the
Company has fulfilled all of its obligations under the PW&S Agreement and
any applicable amendments or supplements throughout the 2003 fiscal year.

IN WITNESS WHEREOF, the Company has caused this Certificate to be executed and
delivered on its behalf by its duly authorized officers on this 25 day of
March, 2004.

IRWIN UNION BANK AND TRUST COMPANY

Attest: /s/ Lorraine Sumulong
Lorraine Sumulong
Assistant Secretary

By: /s/ Edwin K. Corbin
Edwin K. Corbin
Vice President-Business
Development-Home Equity Lending

{00010699.DOC-}2004

Officers Certificate (the Company) 2003-1.doc

Ex-99.4
Schedule of Year-To-Date Principal and Interest Distributions to
Certificateholders

Class Interest Principal Losses Ending Balance
<s> <c> <c> <c> <c>
A-1 586,398.55 20,542,115.30 0.00 169,753,884.70
A-2 181,121.61 0.00 0.00 43,840,000.00
A-IO 344,312.48 0.00 0.00 0.00
B 107,631.38 0.00 0.00 9,641,000.00
B-IO 1,554,716.98 0.00 0.00 0.00
M-1 77,466.30 0.00 0.00 16,527,000.00
M-2 114,214.69 0.00 0.00 15,150,000.00
OC 0.00 0.00 0.00 2,929,199.28
R-1 0.00 50.00 0.00 0.00
R-2 0.00 50.00 0.00 0.00
R-3 0.00 50.00 0.00 0.00