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): ~~September~~October 2527, 2003 AMERIQUEST MORTGAGE SECURITIES INC. (as depositor, Ameriquest Mortgage Company, Master Servicer, and Deutsche Bank National Trust Company, as Trustee). AMERIQUEST MORTGAGE SEC AS-BCKD PASS-THR CERT SER 2003-7 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-103335-07 33-0885129 (Commission File Number) (I.R.S. Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of ~~September~~October 2527, 2003. SIGNATURE 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. Deutsche Bank National Trust Company, not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of July 1,2003. Date: Oct 0129, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~September~~October 2527, 2003.

	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	September 25, 2003 Distribution
	October 27, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				12
			8.	Foreclosure Report				13
			9.	Prepayment Report				14
			10.	Prepayment Detail Report				17
			11.	Realized Loss Report				19
			12.	Realized Loss Detail Report				22
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				23
				Total Number of Pages				23
			CONTACTS
				Administrator: Valerie Delgado
				Direct Phone Number: (714)247-6273
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Ameriquest Mortgage Corp					Cut-Off Date: July 1, 2003
	Certificate Insurer(s):							Closing Date: July 3, 2003
								First Payment Date: August 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: September 25, 2003
								Distribution Date: October 27, 2003
	Underwriter(s):		Countrywide Securities Underwriter					Record Date: ~~September~~October 24, 2003
								August 29, 2003
								September 30, 2003
						Page 1 of 23					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for September 25, 2003 Distribution
	Certificate Payment Report for October 27, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A		495,000,000.00			~~488~~478,~~901~~195,~~497~~637.6411	~~614~~624,~~657~~842.8330	109,~~705~~853,~~860~~386.5341	1110,~~320~~478,~~518~~228.3671	-	-	~~478~~468,~~195~~342,~~637~~250.1170
M-1		36,000,000.00			36,000,000.00	6063,~~760~~040.00	-	6063,~~760~~040.00	-	-	36,000,000.00
M-2		30,000,000.00			30,000,000.00	7981,~~050~~866.0067	-	7981,~~050~~866.0067	-	-	30,000,000.00
M-3		16,500,000.00			16,500,000.00	6264,~~658~~826.7567	-	6264,~~658~~826.7567	-	-	16,500,000.00
M-4		7,500,000.00			7,500,000.00	3132,~~387~~466.5067	-	3132,~~387~~466.5067	-	-	7,500,000.00
M-5		7,500,000.00			7,500,000.00	3132,~~387~~466.5067	-	3132,~~387~~466.5067	-	-	7,500,000.00
CE		7,500,660.92			7,500,009.51	32,~~040~~949,~~415~~580.0821	-	32,~~040~~949,~~415~~580.0821	-	0.00	7,500,009.51
P		100.00			100.00	~~177~~193,~~422~~289.0478	-	~~177~~193,~~422~~289.0478	-	-	100.00
R		-			-	-	-	-	-	-	-
R-X		-			-	-	-	-	-	-	-
Total		600,000,760.92			~~593~~583,~~901~~195,~~607~~746.1562	4,~~097~~042,~~738~~378.7097	109,~~705~~853,~~860~~386.5341	1413,~~803~~895,~~599~~765.2338	-	0.00	~~583~~573,~~195~~342,~~746~~360.6221
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A	0809/25/03	0910/2426/03		A-Act/360	03072SHQ1	495,000,000.00	~~987~~966.~~679793~~051792	1.~~241733~~262308	2119.~~628001~~905831	2221.~~869734~~168139	~~966~~946.~~051792~~145961
M-1	0809/25/03	0910/2426/03		A-Act/360	03072SHR9	36,000,000.00	1,000.000000	1.~~687778~~751111	-	1.~~687778~~751111	1,000.000000
M-2	0809/25/03	0910/2426/03		A-Act/360	03072SHS7	30,000,000.00	1,000.000000	2.~~635000~~728889	-	2.~~635000~~728889	1,000.000000
M-3	0809/25/03	0910/2426/03		A-Act/360	03072SHT5	16,500,000.00	1,000.000000	3.~~797500~~928889	-	3.~~797500~~928889	1,000.000000
M-4	0809/25/03	0910/2426/03		A-Act/360	03072SHU2	7,500,000.00	1,000.000000	4.~~185000~~328889	-	4.~~185000~~328889	1,000.000000
M-5	0809/25/03	0910/2426/03		A-Act/360	03072SHV0	7,500,000.00	1,000.000000	4.~~185000~~328889	-	4.~~185000~~328889	1,000.000000
CE				A-30/360		7,500,660.92	999.913153	~~405~~393.~~352956~~242708	-	~~405~~393.~~352956~~242708	999.913153
P				A-		100.00	1,000.000000	1,~~774~~932,~~220~~897.~~400000~~800000	-	1,~~774~~932,~~220~~897.~~400000~~800000	1,000.000000
R				A-		-	-	-	-	-	-
R-X				A-		-	-	-	-	-	-
							Page 2 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for September 25, 2003 Distribution
	Certificate Payment Report for October 27, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A	495,000,000.00		12,~~685~~310,~~920~~762.3363		1525,~~831~~202,~~082~~861.4680	~~973~~1,~~280~~454,887.4350	1626,~~804~~657,~~362~~749.8930	1828,~~490~~968,~~283~~511.2293	-	-	~~478~~468,~~195~~342,~~637~~250.1170
M-1	36,000,000.00		~~165~~228,~~170~~210.00		-	-	-	~~165~~228,~~170~~210.00	-	-	36,000,000.00
M-2	30,000,000.00		~~214~~296,~~641~~508.6734		-	-	-	~~214~~296,~~641~~508.6734	-	-	30,000,000.00
M-3	16,500,000.00		~~170~~234,~~027~~854.9259		-	-	-	~~170~~234,~~027~~854.9259	-	-	16,500,000.00
M-4	7,500,000.00		85117,~~160~~627.4108		-	-	-	85117,~~160~~627.4108	-	-	7,500,000.00
M-5	7,500,000.00		85117,~~160~~627.4108		-	-	-	85117,~~160~~627.4108	-	-	7,500,000.00
CE	7,500,660.92		58,~~475~~424,~~053~~634.9012		599.16	52.25	651.41	58,~~475~~425,~~705~~285.3153	-	0.00	7,500,009.51
P	100.00		~~249~~443,~~928~~218.8664		-	-	-	~~249~~443,~~928~~218.8664	-	-	100.00
R	-		-		-	-	-	-	-	-	-
R-X	-		-		-	-	-	-	-	-	-
Total	600,000,760.92		812,~~131~~173,~~063~~442.5048		1525,~~831~~203,~~681~~460.6296	~~973~~1,~~332~~454,939.6875	1626,~~805~~658,~~014~~400.3071	2438,~~936~~831,~~077~~843.8019	-	0.00	~~583~~573,~~195~~342,~~746~~360.6221
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A	1.~~46000~~47000%	~~488~~478,~~901~~195,~~497~~637.6411			~~614~~624,~~657~~842.8330	-	-	-	~~614~~624,~~657~~842.8330	~~614~~624,~~657~~842.8330	-
M-1	1.~~96000~~97000%	36,000,000.00			6063,~~760~~040.00	-	-	-	6063,~~760~~040.00	6063,~~760~~040.00	-
M-2	3.~~06000~~07000%	30,000,000.00			7981,~~050~~866.0067	-	-	-	7981,~~050~~866.0067	7981,~~050~~866.0067	-
M-3	4.~~41000~~42000%	16,500,000.00			6264,~~658~~826.7567	-	-	-	6264,~~658~~826.7567	6264,~~658~~826.7567	-
M-4	4.~~86000~~87000%	7,500,000.00			3132,~~387~~466.5067	-	-	-	3132,~~387~~466.5067	3132,~~387~~466.5067	-
M-5	4.~~86000~~87000%	7,500,000.00			3132,~~387~~466.5067	-	-	-	3132,~~387~~466.5067	3132,~~387~~466.5067	-
CE	6.~~14327~~06996%	7,500,009.51			32,~~040~~949,~~415~~580.0821	-	-	-	32,~~040~~949,~~415~~580.0821	32,~~040~~949,~~415~~580.0821	-
P		100.00			~~177~~193,~~422~~289.0478	-	-	-	~~177~~193,~~422~~289.0478	~~177~~193,~~422~~289.0478	-
R		-			-	-	-	-	-	-	-
R-X		-			-	-	-	-	-	-	-
Total		~~593~~583,~~901~~195,~~607~~746.1562			4,~~097~~042,~~738~~378.7097	-	-	-	4,~~097~~042,~~738~~378.7097	4,~~097~~042,~~738~~378.7097	-
							Page 3 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal Collections							109,~~705~~853,~~860~~386.5341
	Principal Other Accounts							0.00
	TOTAL NET PRINCIPAL							109,~~705~~853,~~860~~386.5341
	Interest Collections							3,~~946~~871,~~188~~852.7305
	Interest Withdrawals							0.00
	Interest Other Accounts							~~177~~193,~~422~~289.0478
	Interest Fees							(2522,~~872~~362.0786)
	TOTAL NET INTEREST							4,~~097~~042,~~738~~778.7097
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							1413,~~803~~896,~~599~~165.2338
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal Received							~~484~~481,~~086~~607.5407
	Prepayments In Full							9,~~575~~320,~~907~~356.4813
	Curtailments							4151,~~775~~423.6621
	Liquidations							0.00
	Insurance Principal							0.00
	Repurchased Principal Amounts							~~604,090~~0.8500
	Other Principal							0.00
	Total Realized Loss Of Principal							0.00
	Delinquent Principal							(~~399~~407,~~042~~687.4616)
	Advanced Principal							~~399~~407,~~042~~687.4616
	TOTAL PRINCIPAL COLLECTED							109,~~705~~853,~~860~~386.5341
				Page 4 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS								TOTAL
	TOTAL OTHER ACCOUNTS PRINCIPAL							0.00
INTEREST - COLLECTIONS								TOTAL
	Scheduled Interest							43,~~066~~997,~~045~~232.8112
	Liquidation Interest							0.00
	Repurchased Interest							~~4,725~~0.9200
	Insurance Interest							0.00
	Other Interest							0.00
	Relief Act Interest Shortfalls							0.00
	Prepayment Interest Shortfalls							(56,~~266~~031.3849)
	Compensating Interest							56,~~266~~031.3849
	Delinquent Interest							(3,~~454~~470,~~313~~241.3852)
	Interest Advanced							3,~~329~~344,~~730~~861.3845
	TOTAL INTEREST COLLECTED							3,~~946~~871,~~188~~852.7305
				Page 5 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS								TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS								TOTAL
	Prepayment Charges							~~177~~193,~~422~~289.0478
	Capitalized Interest Requirement							0.00
	TOTAL INTEREST OTHER ACCOUNTS							~~177~~193,~~422~~289.0478
INTEREST - FEES								TOTAL
	Current Servicing Fees							2320,~~892~~418.4087
	Trustee Fee							1,~~979~~943.6799
	TOTAL INTEREST OTHER FEES							2522,~~872~~362.0786
				Page 6 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for September 25, 2003 Distribution
	Credit Enhancement Report for October 27, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS								TOTAL
	Net WAC Rate Carryover Reserve Account							1,000.00
INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES								TOTAL
	Overcollateralized Amount							7,500,009.51
	Overcollateralization Release Amount							0.00
	Overcollateralization Deficiency Amount							0.00
	Overcollateralization Target Amount							7,500,009.51
	Excess Overcollateralization Amount							0.00
	Overcollateralization Increase Amount							0.00
				Page 7 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							4362
	Prior							4,~~329~~269
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(5558)
	Repurchases							~~(5)~~-
	Liquidations							-
	Current							4,~~269~~211
	Principal Balance:
	Original							600,000,760.92
	Prior							~~593~~583,~~901~~195,~~607~~746.1562
	Prefunding							-
	Scheduled Principal							(~~484~~481,~~086~~607.5407)
	Partial and Full Voluntary Prepayments							(9,~~617~~371,~~683~~779.1434)
	Repurchases							~~(604,090.85)~~-
	Liquidations							-
	Current							~~583~~573,~~195~~342,~~746~~360.6221
PREFUNDING								TOTAL
SPACE INTENTIONALLY LEFT BLANK
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							8.225626%
	Weighted Average Coupon Prior							8.~~225626~~225144%
	Weighted Average Coupon Current							8.~~225144~~224817%
	Weighted Average Months to Maturity Original							345
	Weighted Average Months to Maturity Prior							~~345~~344
	Weighted Average Months to Maturity Current							~~344~~343
	Weighted Avg Remaining Amortization Term Original							344
	Weighted Avg Remaining Amortization Term Prior							~~344~~343
	Weighted Avg Remaining Amortization Term Current							~~343~~342
	Weighted Average Seasoning Original							3.59
	Weighted Average Seasoning Prior							34.59
	Weighted Average Seasoning Current							45.5958
Note: Original information refers to deal issue.
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							3.899%
	Weighted Average Margin Prior							3.~~899~~898%
	Weighted Average Margin Current							3.~~898~~893%
	Weighted Average Max Rate Original							9.917%
	Weighted Average Max Rate Prior							9.~~917~~914%
	Weighted Average Max Rate Current							9.~~914~~898%
	Weighted Average Min Rate Original							6.017%
	Weighted Average Min Rate Prior							6.~~017~~015%
	Weighted Average Min Rate Current							6.~~015~~006%
	Weighted Average Cap Up Original							0.650%
	Weighted Average Cap Up Prior							0.650%
	Weighted Average Cap Up Current							0.~~650~~649%
	Weighted Average Cap Down Original							0.650%
	Weighted Average Cap Down Prior							0.650%
	Weighted Average Cap Down Current							0.~~650~~649%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							2320,~~892~~418.4087
	Delinquent Servicing Fees							~~124~~125,~~583~~380.0007
	TOTAL SERVICING FEES							~~148~~145,~~475~~798.4094
	Compensating Interest							(56,~~266~~031.3849)
	Delinquent Servicing Fees							(~~124~~125,~~583~~380.0007)
	COLLECTED SERVICING FEES							1814,~~626~~387.0238
	Aggregate Advances with respect to this Distribution							3,~~728~~752,~~772~~548.8461
	Current Nonrecoverable Advances							0.00
	Cumulative Nonrecoverable Advances							0.00
ADDITIONAL COLLATERAL INFORMATION								TOTAL
	Net Prepayment Interest Shortfall							0.00
				Page 10 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,~~044~~861,~~262~~445.92	~~460~~3,~~730~~523,357.6808	~~127~~125,~~242~~080.2292	48,~~632~~509,~~235~~883.8292
		% Balance			0.6985%	0.0861%	0.02%	01.7948%
		# Loans			2836	225	12	3163
		% # Loans			0.6685%	0.0559%	0.0205%	01.7350%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		~~861~~350,~~286~~778.0073	-	-	-	~~861~~350,~~286~~778.0073
		% Balance		0.1506%	0.00%	0.00%	0.00%	0.1506%
		# Loans		73	-	-	-	73
		% # Loans		0.1607%	0.00%	0.00%	0.00%	0.1607%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		~~861~~350,~~286~~778.0073	4,~~044~~861,~~262~~445.92	~~460~~3,~~730~~523,357.6808	~~127~~125,~~242~~080.2292	58,~~493~~860,~~521~~662.8265
		% Balance		0.1506%	0.6985%	0.0861%	0.02%	01.9455%
		# Loans		73	2836	225	12	3866
		% # Loans		0.1607%	0.6685%	0.0559%	0.0205%	01.8957%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	REO Report for September 25, 2003 Distribution
	REO Report for October 27, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 12 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 25, 2003 Distribution
	Foreclosure Report for October 27, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 13 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							5558
	Number of Repurchased Loans							5-
	Total Number of Loans Prepaid in Full							6058
	Paid in Full Balance							9,~~575~~320,~~907~~356.4813
	Repurchased Loans Balance							~~604,090.85~~-
	Curtailments Amount							4151,~~775~~423.6621
	Total Prepayment Amount							109,~~221~~371,~~773~~779.9934
	Cumulative
	Number of Paid in Full Loans							82140
	Number of Repurchased Loans							11
	Total Number of Loans Prepaid in Full							93151
	Paid in Full Balance							1423,~~026~~346,~~305~~661.4356
	Repurchased Loans Balance							1,507,602.47
	Curtailments Amount							~~297~~349,~~773~~196.7293
	Total Prepayment Amount							1525,~~831~~203,~~681~~460.6296
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 14 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							1.7261%
	3 Months Avg SMM							1.42%
	12 Months Avg SMM
	Avg SMM Since Cut-off							1.3342%
	CPR							1817.8268%
	3 Months Avg CPR							15.80%
	12 Months Avg CPR
	Avg CPR Since Cut-off							1415.8480%
	PSA							~~2052~~1583.2637%
	3 Months Avg PSA Approximation							1722.53%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							~~1815~~1722.6153%
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 15 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
				Page 16 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 25, 2003 Distribution
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 60						Loan Group 1 = Group 1 Group
Total Loan Count = 58						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 10,407,100.00
Total Original Principal Balance = 9,356,650.00
Total Prepayment Amount = 10,179,998.33
Total Prepayment Amount = 9,320,356.13
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
40600967 1			94,500.00	93,954.91	Sep-10-03	6.250%	IN - 89.15%	Paid Off - 360	Jan-16-03
41611658 1			215,000.00	211,603.25	Sep-24-03	7.750%	CA - 72.88%	Paid Off - 360	Dec-31-02
41681511 1			101,200.00	100,543.19	Aug-30-03	5.625%	AZ - 61.33%	Paid Off - 360	Jan-17-03
41941378 1			65,600.00	65,431.97	Sep-18-03	11.150%	OH - 80.00%	Paid Off - 360	Jan-31-03
41867441 1			94,500.00	94,183.68	Sep-09-03	9.750%	FL - 70.00%	Paid Off - 360	Dec-31-02
42107433 1			77,400.00	77,154.17	Oct-02-03	10.000%	SC - 60.00%	Paid Off - 360	Jan-24-03
41869090 1			293,250.00	287,312.44	Aug-26-03	6.375%	CA - 85.00%	Paid Off - 180	Jan-31-03
42260539 1			177,000.00	176,306.38	Oct-09-03	8.990%	WA - 79.73%	Paid Off - 360	Jan-30-03
42039990 1			69,750.00	69,528.60	Sep-05-03	9.375%	CO - 75.00%	Paid Off - 360	Jan-30-03
42438481 1			225,250.00	224,455.73	Sep-30-03	9.500%	NY - 85.00%	Paid Off - 360	Jan-21-03
42182832 1			270,000.00	269,506.98	Sep-09-03	9.990%	CA - 90.00%	Paid Off - 360	Apr-03-03
42713735 1			260,000.00	258,327.69	Sep-29-03	6.500%	CA - 76.47%	Paid Off - 360	Jan-30-03
42339796 1			309,000.00	306,815.67	Aug-22-03	7.750%	NY - 81.32%	Paid Off - 360	Jan-17-03
42728659 1			196,500.00	195,692.59	Oct-09-03	8.759%	OH - 72.24%	Paid Off - 360	Jan-31-03
42447417 1			297,500.00	296,504.42	Aug-12-03	8.990%	CO - 85.00%	Paid Off - 360	Jan-17-03
42791939 1			221,000.00	219,202.41	Oct-10-03	7.250%	NY - 83.71%	Paid Off - 360	Jan-31-03
42542977 1			200,000.00	198,579.33	Aug-20-03	5.750%	CA - 50.25%	Paid Off - 360	Jan-30-03
42897660 1			210,000.00	207,822.58	Oct-01-03	8.759%	CA - 78.65%	Paid Off - 360	Jan-31-03
42957399 1			245,000.00	243,716.42	Aug-27-03	6.750%	CA - 84.48%	Paid Off - 360	Jan-30-03
42902676 1			114,000.00	113,125.89	Oct-01-03	8.999%	RI - 78.62%	Paid Off - 360	Jan-30-03
42960195 1			81,000.00	80,797.57	Sep-05-03	9.500%	TN - 64.80%	Paid Off - 360	Feb-21-03
43068501 1			75,000.00	74,313.44	Sep-16-03	9.000%	FL - 74.26%	Paid Off - 240	Feb-14-03
43076009 1			162,000.00	161,654.44	Aug-20-03	10.250%	NY - 58.91%	Paid Off - 360	Feb-19-03
43400076 1			175,500.00	175,135.49	Sep-12-03	11.700%	OH - 75.00%	Paid Off - 360	Mar-14-03
43287432 1			191,000.00	190,016.73	Aug-29-03	5.875%	CA - 83.41%	Paid Off - 360	Feb-28-03
44013944 1			322,700.00	321,340.78	Oct-10-03	7.990%	MD - 84.70%	Paid Off - 360	Feb-27-03
43293174 1			191,250.00	700.51	Aug-15-03	5.000%	CA - 85.00%	Paid Off - 240	Feb-24-03
44240463 1			82,500.00	82,294.59	Sep-15-03	10.400%	CT - 69.92%	Paid Off - 360	Feb-28-03
43591882 1			234,000.00	233,237.48	Sep-10-03	8.250%	IL - 90.00%	Paid Off - 360	Feb-19-03
44273084 1			81,000.00	80,696.48	Sep-30-03	8.750%	IL - 64.80%	Paid Off - 360	Apr-18-03
43693209 1			105,500.00	104,954.61	Aug-18-03	6.250%	WA - 74.30%	Paid Off - 360	Feb-25-03
44441087 1			63,000.00	62,873.22	Oct-09-03	9.450%	TX - 75.00%	Paid Off - 360	Apr-11-03
43773647 1			252,000.00	251,299.90	Sep-04-03	8.990%	KS - 80.00%	Paid Off - 360	Feb-21-03
44543981 1			162,500.00	162,081.23	Oct-02-03	8.250%	MA - 83.76%	Paid Off - 360	Apr-30-03
43955970 1			322,600.00	321,500.95	Sep-05-03	7.990%	NJ - 88.38%	Paid Off - 360	Feb-28-03
44734705 1			236,700.00	235,716.56	Sep-19-03	6.990%	CA - 90.00%	Paid Off - 360	Apr-03-03
44047504 1			118,000.00	117,817.93	Aug-14-03	10.700%	MS - 52.68%	Paid Off - 360	Apr-11-03
45027968 1			212,000.00	209,840.42	Sep-22-03	9.650%	NY - 75.71%	Paid Off - 360	Apr-03-03
44060077 1			150,000.00	149,705.12	Sep-09-03	8.150%	CA - 32.97%	Paid Off - 360	Apr-18-03
45111796 1			112,500.00	112,213.32	Oct-06-03	8.750%	RI - 75.00%	Paid Off - 360	Apr-28-03
44454064 1			131,250.00	131,014.30	Aug-12-03	9.990%	NY - 74.15%	Paid Off - 360	Mar-18-03
45347275 1			103,350.00	101,937.32	Oct-09-03	10.100%	NC - 64.59%	Paid Off - 360	Apr-18-03
44568269 1			181,000.00	180,685.25	Aug-28-03	8.750%	CA - 76.70%	Paid Off - 360	Apr-07-03
45363967 1			72,250.00	72,174.85	Sep-17-03	12.500%	CA - 85.00%	Paid Off - 360	Apr-25-03
44760221 1			240,000.00	237,508.00	Sep-05-03	8.250%	MA - 87.27%	Paid Off - 360	Mar-28-03
45464849 1			269,000.00	268,341.19	Sep-12-03	8.500%	CA - 76.86%	Paid Off - 360	Apr-25-03
44916328 1			172,000.00	171,596.82	Aug-21-03	9.950%	IL - 60.35%	Paid Off - 360	Apr-03-03
45533916 1			152,500.00	152,076.29	Oct-08-03	8.990%	CA - 58.65%	Paid Off - 360	Apr-04-03
44949782 1			270,000.00	269,298.66	Aug-30-03	6.750%	CA - 56.25%	Paid Off - 360	Apr-23-03
45609401 1			165,000.00	164,816.59	Oct-08-03	12.200%	RI - 75.00%	Paid Off - 360	Apr-30-03
45024908 1			274,000.00	273,443.63	Aug-29-03	7.990%	MD - 76.11%	Paid Off - 360	Apr-07-03
45617156 1			207,000.00	206,556.63	Oct-01-03	9.150%	CA - 90.00%	Paid Off - 360	Apr-30-03
45033586 1			95,000.00	94,883.58	Aug-19-03	10.800%	NY - 43.18%	Paid Off - 360	Apr-24-03
45736782 1			298,000.00	297,464.88	Sep-11-03	9.990%	IL - 72.68%	Paid Off - 360	Apr-09-03
45317518 1			155,000.00	154,577.33	Sep-03-03	6.500%	CO - 73.11%	Paid Off - 360	Apr-22-03
45753142 1			75,000.00	74,829.06	Sep-30-03	8.850%	ME - 75.00%	Paid Off - 360	Apr-22-03
45336021 1			81,100.00	80,926.26	Sep-05-03	9.150%	MN - 50.37%	Paid Off - 360	Apr-02-03
45786498 1			208,000.00	207,345.05	Oct-09-03	7.250%	MN - 75.64%	Paid Off - 360	Apr-29-03
45336724 1			77,500.00	77,358.16	Aug-15-03	9.900%	OH - 60.08%	Paid Off - 360	Apr-04-03
45795044 1			292,000.00	291,032.26	Sep-30-03	6.990%	CA - 89.85%	Paid Off - 360	Apr-18-03
45356524 1			116,000.00	115,339.28	Sep-09-03	7.990%	MA - 72.05%	Paid Off - 360	Apr-16-03
45814639 1			72,000.00	71,878.92	Sep-17-03	10.300%	LA - 68.57%	Paid Off - 360	Apr-22-03
45430568 1			244,000.00	243,596.31	Sep-10-03	8.990%	CA - 80.00%	Paid Off - 360	Apr-11-03
45954070 1			60,500.00	60,391.34	Oct-02-03	9.990%	IL - 50.00%	Paid Off - 360	Apr-30-03
45447984 1			245,000.00	244,594.64	Aug-18-03	8.990%	PA - 56.98%	Paid Off - 360	Apr-29-03
45972510 1			60,000.00	59,867.12	Sep-12-03	8.990%	MI - 65.93%	Paid Off - 360	Apr-17-03
45590569 1			273,600.00	271,315.14	Sep-10-03	8.500%	MD - 90.00%	Paid Off - 180	Apr-30-03
46001210 1			229,000.00	228,313.76	Oct-03-03	7.500%	FL - 33.98%	Paid Off - 360	Apr-24-03
45618881 1			225,000.00	224,480.64	Sep-04-03	7.350%	NJ - 86.54%	Paid Off - 360	May-06-03
46009155 1			60,000.00	59,625.00	Oct-03-03	8.750%	KS - 63.16%	Paid Off - 240	Apr-15-03
45710472 1			195,200.00	194,542.73	Aug-11-03	10.800%	MA - 80.00%	Paid Off - 360	Apr-21-03
46049433 1			189,000.00	188,439.24	Sep-29-03	7.550%	CA - 87.91%	Paid Off - 360	Apr-21-03
45740776 1			312,000.00	311,348.33	Sep-09-03	7.850%	PA - 86.67%	Paid Off - 360	Apr-07-03
46089504 1			113,600.00	113,344.78	Oct-02-03	9.100%	IL - 78.35%	Paid Off - 360	Apr-22-03
45941069 1			147,050.00	146,750.80	Sep-08-03	7.990%	RI - 85.00%	Paid Off - 360	Apr-28-03
46114773 1			171,000.00	170,621.36	Sep-18-03	8.990%	IL - 82.61%	Paid Off - 360	Apr-17-03
46033502 1			60,000.00	59,900.71	Aug-30-03	8.990%	NV - 39.74%	Paid Off - 360	Apr-18-03
46161881 1			247,500.00	247,130.28	Sep-17-03	10.850%	WA - 81.68%	Paid Off - 360	Apr-22-03
46160412 1			108,000.00	107,768.95	Aug-18-03	7.750%	IL - 89.26%	Paid Off - 360	Apr-21-03
46249215 1			258,500.00	256,434.85	Oct-06-03	7.500%	MA - 83.39%	Paid Off - 360	Apr-21-03
46212692 1			96,500.00	96,231.72	Aug-11-03	6.400%	IA - 86.16%	Paid Off - 360	Apr-29-03
46467148 1			300,000.00	299,335.74	Sep-25-03	8.990%	CA - 75.00%	Paid Off - 360	Apr-30-03
46343752 1			139,500.00	139,066.14	Sep-05-03	6.500%	CO - 62.84%	Paid Off - 360	Apr-24-03
46496352 1			100,000.00	99,621.50	Oct-02-03	6.650%	MI - 71.43%	Paid Off - 360	Apr-29-03
46487567 1			227,000.00	226,662.37	Sep-02-03	9.500%	MN - 74.43%	Paid Off - 360	Apr-29-03
46520300 1			157,250.00	156,822.85	Sep-24-03	7.990%	CA - 85.00%	Paid Off - 360	Apr-30-03
46711891 1			84,000.00	83,887.35	Aug-22-03	9.990%	FL - 75.00%	Paid Off - 360	Apr-30-03
46552535 1			156,500.00	156,135.87	Sep-22-03	8.750%	IL - 82.37%	Paid Off - 360	Apr-29-03
					Page 17 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 25, 2003 Distribution
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
46738597 1			76,500.00	76,373.41	Sep-10-03	8.990%	IL - 85.00%	Paid Off - 360	Apr-30-03
46569315 1			129,000.00	128,754.90	Oct-01-03	9.750%	NJ - 41.21%	Paid Off - 360	May-08-03
46738829 1			100,000.00	99,875.89	Sep-02-03	8.400%	NE - 67.57%	Paid Off - 360	May-30-03
46673612 1			65,250.00	65,120.07	Oct-06-03	9.500%	IN - 75.00%	Paid Off - 360	Apr-30-03
46808879 1			225,000.00	224,627.73	Aug-18-03	8.990%	NY - 73.77%	Paid Off - 360	Apr-30-03
46676318 1			81,000.00	80,846.98	Oct-03-03	9.750%	IL - 78.64%	Paid Off - 360	Apr-25-03
46848776 1			108,000.00	107,782.93	Sep-03-03	8.050%	NY - 90.00%	Paid Off - 360	Apr-29-03
46711594 1			235,000.00	234,221.17	Oct-07-03	6.990%	CA - 72.09%	Paid Off - 360	Apr-30-03
46862496 1			322,700.00	321,820.06	Sep-05-03	6.500%	CA - 59.76%	Paid Off - 360	Apr-30-03
46724613 1			150,000.00	149,479.02	Oct-06-03	6.750%	RI - 57.69%	Paid Off - 360	Apr-30-03
46897518 1			131,000.00	130,873.32	Aug-28-03	9.600%	OR - 83.44%	Paid Off - 360	May-14-03
46754362 1			187,000.00	186,749.38	Sep-25-03	11.350%	NY - 83.11%	Paid Off - 360	Apr-29-03
47024096 1			270,000.00	269,221.91	Aug-26-03	6.990%	CT - 72.00%	Paid Off - 360	Apr-30-03
46842704 1			215,050.00	214,774.15	Sep-30-03	11.550%	CO - 85.00%	Paid Off - 360	Apr-30-03
47180112 1			60,000.00	59,958.85	Aug-13-03	11.200%	NJ - 22.64%	Paid Off - 360	May-19-03
46898631 1			165,000.00	164,627.77	Sep-25-03	8.900%	MA - 82.09%	Paid Off - 360	Apr-30-03
47568472 1			190,000.00	189,743.65	Sep-02-03	7.990%	CO - 71.70%	Paid Off - 360	May-16-03
47010582 1			65,000.00	64,919.25	Sep-24-03	10.350%	NE - 65.66%	Paid Off - 360	May-13-03
47762588 1			204,000.00	203,794.24	Sep-02-03	9.400%	CO - 90.67%	Paid Off - 360	May-20-03
47269394 1			60,000.00	59,408.53	Sep-16-03	9.250%	NJ - 38.71%	Paid Off - 360	May-29-03
47931688 1			183,000.00	182,727.51	Sep-02-03	7.500%	NJ - 69.06%	Paid Off - 360	May-22-03
47406400 1			159,000.00	158,714.88	Sep-30-03	8.600%	CA - 61.15%	Paid Off - 360	May-27-03
43196815 1			100,000.00	99,744.84	Aug-20-03	9.400%	FL - 55.56%	Repur/Subs - 360	Feb-24-03
47823307 1			262,000.00	261,674.59	Oct-10-03	10.350%	NJ - 74.86%	Paid Off - 360	May-20-03
45216454 1			86,400.00	86,241.84	Sep-03-03	8.500%	FL - 90.00%	Repur/Subs - 360	Apr-21-03
48007108 1			191,250.00	191,034.38	Sep-19-03	10.800%	FL - 61.10%	Paid Off - 360	May-30-03
45889680 1			69,000.00	68,876.08	Sep-16-03	9.990%	MS - 81.18%	Repur/Subs - 360	Apr-17-03
48077473 1			90,000.00	89,866.14	Oct-07-03	9.500%	PA - 66.67%	Paid Off - 360	May-29-03
46136131 1			106,000.00	105,840.65	Sep-03-03	9.450%	MI - 79.70%	Repur/Subs - 360	Apr-28-03
46558342 1			243,750.00	243,387.44	Sep-09-03	9.500%	NJ - 75.00%	Repur/Subs - 360	Apr-29-03
					Page 18 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES								TOTAL
	Current
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Cumulative
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
							3 Months Moving Average
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 19 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR							0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%
	CDR							0.00%
	3 Months Avg CDR							0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%
	SDA							0.00%
	3 Months Avg SDA Approximation							0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 20 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report - Collateral
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 21 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for September 25, 2003 Distribution
	Realized Loss Detail Report for October 27, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
					Page 22 of 23				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-7
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for October 27, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
	Stepdown Date has occurred							No
	Delinquency Percentage							01.7955%
	Balances 60+ days							48,~~632~~875,~~235~~972.8200
	Ending Balance							~~583~~573,~~195~~342,~~746~~360.6221
	Credit Enhancement Percentage							18.0031%
	Balance of Mezzanine and C Class							105,000,009.51
	Ending Balance							~~583~~573,~~195~~342,~~746~~360.6221
	Ending Balance of Fixed Loans - used for Trigger							0.00
	Ending Balance of Adjustable Loans - used for Trigger							0.00
	Trigger Event in effect							No
ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION								TOTAL
	Net WAC Rate Carryover Amt: Class A-1							0.00
	Net WAC Rate Carryover Amt: Class M-1							0.00
	Net WAC Rate Carryover Amt: Class M-2							0.00
	Net WAC Rate Carryover Amt: Class M-3							0.00
	Net WAC Rate Carryover Amt: Class M-4							0.00
	Net WAC Rate Carryover Amt: Class M-5							0.00
	Net WAC Rate Carryover Amt: Class A-1 unpaid							0.00
	Libor for Current Period							1.~~110000~~120000%
	Net WAC Rate Carryover Amt: Class M-2 unpaid							0.00
	Current Period loan level losses							0.00
	Current Recoveries or Losses from Prior periods							0.00
	Total Current Losses							0.00
				Page 23 of 23				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · AMERIQUEST MORTGAGE SEC AS-BCKD PASS-THR CERT SER 2003-7