|Exhibit 99.5 Holders of Record, holding 5% or more of the outstanding balance for Bear Stearns Asset Backed Securities I Trust 2004-HE7, Asset-Backed Certificates, Series 2004-HE7 as reflected in the security position listing as of December 31, 2004 provided by DTC.  Class
Name and Address of Holder


Amount Held
% Class
I-A-1
Mizuho Bank




2,000,000
5%

666 Fifth Avenue

New York, NY 10103

SSB&T Co




27,684,000
74%

1776 Heritage Drive Global Corporate Action  Unit JAB 5NW

No. Quincy, MA 02171

Northern Trust



3,100,000
8%

801 S. Canal C-IN

Chicago, IL 60607
I-A-2
DRSDNR/AKV



47,737,000
100%

75 Wall Street, Thirty-Second Floor




New York, NY 10005
I-A-3
DRESDNER




59,000,000
28%

C/O ADP Proxy Services

51 Mercedes Way

Edgewood, NY 11717

Merrill Lynch




148,000,000
72%

101 Hudson St., Ninth Floor

Jersey City, NJ 07302
II-A
FHL/RETAIN




500,129,250
100%

155 Parkrun Drive

Mail Stop 5DN

McLean, VA 22102
M-1
Bank of New York/Fifth Third Bank

19,000,000
33%

One Wall Street

New York, NY 10286

ML SFKPG




24,733,000
44%

4 Corporate Place

Piscataway, NJ 08854

CGM/ Sal Br




5,000,000
8%

333 W 34 th Street, Third Floor

New York, NY 10001

JP Morgan Chase Bank NA


7,500,000
13%

14201 Dallas Parkway

Dallas, TX 75254
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|M-2
Bank of New York/Fifth Third Bank

20,000,000
43%

One Wall Street

New York, NY 10286

LaSalle Bank NA



14,453,000
31%

135 S. LaSalle Street

Chicago, IL 60603

CGM/ Sal Br




5,000,000
10%

333 W 34 th Street, Third Floor

New York, NY 10001

JP Morgan Chase Bank NA


7,000,000
15%

14201 Dallas Parkway

Dallas, TX 75254
M-3
JP Morgan Chase Bank NA


3,000,000
23%

14201 Dallas Parkway

Dallas, TX 75254

LaSalle Bank NA



2,213,000
17%

135 S. LaSalle Street

Chicago, IL 60603

SSB&T Co




7,500,000
59%

1776 Heritage Drive Global Corporate Action  Unit JAB 5NW

No. Quincy, MA 02171
M-4
Bear Stearns




3,736,000
31%

One Metrotech Center North, Fourth Floor

Brooklyn, NY 11201-3862

Wells Fargo Bank NA



4,000,000
34%

733 Marquette Avenue

Minneapolis, MN 55479

CGM/ Sal Br




3,000,000
25%

333 W 34 th Street, Third Floor

New York, NY 10001

JP Morgan Chase/GW Cap


1,000,000
8%

4 New York Plaza, Twenty-First Floor


New York, NY 10004
M-5
CGM/ Sal Br




2,000,000
20%

333 W 34 th Street, Third Floor

New York, NY 10001

Wells Fargo Bank NA



2,250,000
23%

733 Marquette Avenue

Minneapolis, MN 55479

JP Morgan Chase Bank



2,500,000
25%

14204 Dallas Parkway

Dallas, TX 75254                                                  
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|UBSSEC/CMO



3,030,000
31%


299 Park Avenue

New York, NY 10171
M-6
CGM/ Sal Br




1,000,000
12%

333 W 34 th Street, Third Floor

New York, NY 10001

Mellon Trust




1,966,750
23%

525 William Penn Place, Suite 3418

Pittsburgh, PA 15259

JP Morgan Chase/GW Cap


3,845,250
46%

4 New York Plaza, Twenty-First Floor


New York, NY 10004

JP Morgan Chase Bank NA


1,500,000
18%

14201 Dallas Parkway

Dallas, TX 75254                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
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