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): ~~November~~December 2526, 2003 AMERIQUEST MORTGAGE SECURITIES INC. (as depositor, Ameriquest Mortgage Company, Master Servicer, and Deutsche Bank National Trust Company, as Trustee). AMERIQUEST MORT SEC INC ASSET BACK PS THR CERT SER 2003-AR2 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-103335-05 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 ~~November~~December 2526, 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 May 1,2003. Date: ~~Nov~~Jan 2602, ~~2003~~2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~November~~December 2526, 2003.

	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	November 25, 2003 Distribution
	December 26, 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				15
			8.	Foreclosure Report				16
			9.	Prepayment Report				17
			10.	Prepayment Detail Report				20
			11.	Realized Loss Report				23
			12.	Realized Loss Detail Report				26
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
			14.	Other Related Information				28
				Total Number of Pages				28
			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 Mtg Sec Inc					Cut-Off Date: May 1, 2003
	Certificate Insurer(s):							Closing Date: May 14, 2003
								First Payment Date: June 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: November 25, 2003
								Distribution Date: December 26, 2003
	Underwriter(s):		Bank of America NT&SA Lead Underwriter					Record Date: ~~November~~December 24, 2003
			Deutsche Bank Lead Underwriter					~~October~~November 3128, 2003
			Banc One Capital Markets Underwriter
			Merrill Lynch & Co. Underwriter
						Page 1 of 28					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for November 25, 2003 Distribution
	Certificate Payment Report for December 26, 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-1	FLT	348,141,000.00			~~326~~318,~~291~~845,~~170~~657.8931	~~381~~397,~~126~~771.2103	79,~~445~~139,~~513~~274.5802	79,~~826~~537,~~639~~045.7905	-	-	~~318~~309,~~845~~706,~~657~~383.3129
A-2	FLT	100,317,000.00			9390,~~838~~783,~~787~~444.4561	~~109~~113,~~608~~255.9250	3,~~055~~929,~~342~~300.8439	34,~~164~~042,~~951~~555.7689	-	-	9086,~~783~~854,~~444~~144.6122
A-3	FLT	8,709,000.00			87,~~146~~881,~~595~~346.2932	10,~~631~~985.3199	~~265~~341,~~248~~121.9742	~~275~~352,~~880~~107.2841	-	-	7,~~881~~540,~~346~~224.3291
A-4	FLT	387,833,000.00			~~364~~353,~~005~~060,~~101~~327.0728	~~431~~446,~~042~~535.7150	10,~~944~~906,~~773~~077.7940	11,~~375~~352,~~816~~612.5090	-	-	~~353~~342,~~060~~154,~~327~~249.2888
M-1	MEZ, FLT	55,000,000.00			55,000,000.00	8793,~~281~~242.9419	-	8793,~~281~~242.9419	-	-	55,000,000.00
M-2	MEZ, FLT	47,500,000.00			47,500,000.00	~~120~~128,~~531~~792.2562	-	~~120~~128,~~531~~792.2562	-	-	47,500,000.00
M-3	MEZ, FLT	27,500,000.00			27,500,000.00	~~128~~137,~~486~~317.1162	-	~~128~~137,~~486~~317.1162	-	-	27,500,000.00
M-4	MEZ, FLT	12,500,000.00			12,500,000.00	4952,~~038~~406.1968	-	4952,~~038~~406.1968	-	-	12,500,000.00
CE	EXE	12,498,666.19			12,499,984.58	3,~~774~~587,~~013~~607.9378	0.00	3,~~774~~587,~~013~~607.9378	-	-	12,499,984.5857
R	R	-			-	-	-	-	-	-	-
P	SUB	100.00			100.00	~~596~~636,~~055~~725.6043	-	~~596~~636,~~055~~725.6043	-	-	100.00
Total		999,998,766.19			~~947~~925,~~281~~570,~~739~~860.2810	5,~~687~~604,~~816~~640.1734	2124,~~710~~315,~~879~~773.1823	2729,~~398~~920,~~695~~413.3557	-	-	~~925~~901,~~570~~255,~~860~~086.1087
	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-1	1011/2725/03	1112/2425/03		A-Act/360	03072SHA6	348,141,000.00	~~937~~915.~~238564~~852075	1.~~094747~~142557	2126.~~386489~~251645	2227.~~481235~~394202	~~915~~889.~~852075~~600430
A-2	1011/2725/03	1112/2425/03		A-Act/360	03072SHB4	100,317,000.00	~~935~~904.~~422585~~965705	1.~~092626~~128976	3039.~~456880~~168839	3140.~~549506~~297815	~~904~~865.~~965705~~796866
A-3	1011/2725/03	1112/2425/03		A-Act/360	03072SGV1	8,709,000.00	~~935~~904.~~422585~~965705	1.~~220727~~261453	3039.~~456880~~168839	3140.~~677607~~430291	~~904~~865.~~965705~~796866
A-4	1011/2725/03	1112/2425/03		A-Act/360	03072SGW9	387,833,000.00	~~938~~910.~~561445~~341119	1.~~111413~~151360	28.~~220326~~120550	29.~~331739~~271911	~~910~~882.~~341119~~220569
M-1	1011/2725/03	1112/2425/03		A-Act/360	03072SGX7	55,000,000.00	1,000.000000	1.~~586944~~695313	-	1.~~586944~~695313	1,000.000000
M-2	1011/2725/03	1112/2425/03		A-Act/360	03072SGY5	47,500,000.00	1,000.000000	2.~~537500~~711424	-	2.~~537500~~711424	1,000.000000
M-3	1011/2725/03	1112/2425/03		A-Act/360	03072SGZ2	27,500,000.00	1,000.000000	4.~~672222~~993368	-	4.~~672222~~993368	1,000.000000
M-4	1011/2725/03	1112/2425/03		A-Act/360	03072SHC2	12,500,000.00	1,000.000000	34.~~923055~~192534	-	34.~~923055~~192534	1,000.000000
CE				-		12,498,666.19	1,000.105482	~~301~~287.~~953334~~039251	0.000000	~~301~~287.~~953334~~039251	1,000.105482
R				-		-	-	-	-	-	-
P				-		100.00	1,000.000000	56,~~960~~367,~~556~~254.~~000000~~300000	-	56,~~960~~367,~~556~~254.~~000000~~300000	1,000.000000
							Page 2 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for November 25, 2003 Distribution
	Certificate Payment Report for December 26, 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-1	348,141,000.00		23,~~710~~108,~~397~~168.2124		2736,~~470~~336,~~209~~565.0888	12,~~825~~098,~~133~~050.6184	2938,~~295~~434,~~342~~616.6971	3241,~~005~~542,~~739~~784.9095	-	-	~~318~~309,~~845~~706,~~657~~383.3129
A-2	100,317,000.00		~~781~~894,~~124~~380.6212		812,~~972~~784,~~766~~729.0962	~~560~~678,~~789~~126.3017	913,~~533~~462,~~555~~855.3978	1014,~~314~~357,~~680~~235.0190	-	-	9086,~~783~~854,~~444~~144.6122
A-3	8,709,000.00		7586,~~635~~621.1615		~~778~~1,~~968~~109,903.8771	4858,~~684~~871.8139	~~827~~1,~~653~~168,775.6809	~~903~~1,~~288~~255,396.8424	-	-	7,~~881~~540,~~346~~224.3291
A-4	387,833,000.00		3,~~064~~511,~~826~~361.1060		3243,~~662~~243,~~795~~195.8671	2,~~109~~435,~~876~~554.8641	3445,~~772~~678,~~672~~750.7212	3749,~~837~~190,~~498~~111.8272	-	-	~~353~~342,~~060~~154,~~327~~249.2888
M-1	55,000,000.00		~~593~~687,~~770~~013.8302		-	-	-	~~593~~687,~~770~~013.8302	-	-	55,000,000.00
M-2	47,500,000.00		~~816~~945,~~406~~198.2587		-	-	-	~~816~~945,~~406~~198.2587	-	-	47,500,000.00
M-3	27,500,000.00		~~867~~1,~~395~~004,713.8446		-	-	-	~~867~~1,~~395~~004,713.8446	-	-	27,500,000.00
M-4	12,500,000.00		~~331~~383,~~302~~708.0876		-	-	-	~~331~~383,~~302~~708.0876	-	-	12,500,000.00
CE	12,498,666.19		2225,~~332~~920,~~773~~381.5533		0.01	0.00	0.01	2225,~~332~~920,~~773~~381.5634	0.00	1,318.40	12,499,984.5857
R	-		-		-	-	-	-	-	-	-
P	100.00		12,~~461~~097,~~158~~884.5902		-	-	-	12,~~461~~097,~~158~~884.5902	-	-	100.00
Total	999,998,766.19		3338,~~034~~639,~~790~~430.2357		6993,~~884~~474,~~739~~394.9092	45,~~544~~270,~~484~~602.5980	7498,~~429~~744,~~224~~997.4972	~~107~~137,~~464~~384,~~014~~428.7229	0.00	1,318.40	~~925~~901,~~570~~255,~~860~~086.1087
	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	1.~~45000~~44875%	~~326~~318,~~291~~845,~~170~~657.8931			~~381~~397,~~126~~771.2103	-	-	-	~~381~~397,~~126~~771.2103	~~381~~397,~~126~~771.2103	-
A-2	1.~~45000~~44875%	9390,~~838~~783,~~787~~444.4561			~~109~~113,~~608~~255.9250	-	-	-	~~109~~113,~~608~~255.9250	~~109~~113,~~608~~255.9250	-
A-3	1.~~62000~~61875%	87,~~146~~881,~~595~~346.2932			10,~~631~~985.3199	-	-	-	10,~~631~~985.3199	10,~~631~~985.3199	-
A-4	1.~~47000~~46875%	~~364~~353,~~005~~060,~~101~~327.0728			~~431~~446,~~042~~535.7150	-	-	-	~~431~~446,~~042~~535.7150	~~431~~446,~~042~~535.7150	-
M-1	1.~~97000~~96875%	55,000,000.00			8793,~~281~~242.9419	-	-	-	8793,~~281~~242.9419	8793,~~281~~242.9419	-
M-2	3.~~15000~~14875%	47,500,000.00			~~120~~128,~~531~~792.2562	-	-	-	~~120~~128,~~531~~792.2562	~~120~~128,~~531~~792.2562	-
M-3	5.~~80000~~79875%	27,500,000.00			~~128~~137,~~486~~317.1162	-	-	-	~~128~~137,~~486~~317.1162	~~128~~137,~~486~~317.1162	-
M-4	4.~~87000~~86875%	12,500,000.00			4952,~~038~~406.1968	-	-	-	4952,~~038~~406.1968	4952,~~038~~406.1968	-
CE		12,499,984.58			3,~~774~~587,~~013~~607.9378	-	-	-	3,~~774~~587,~~013~~607.9378	3,~~774~~587,~~013~~607.9378	-
R		-			-	-	-	-	-	-	-
P		100.00			~~596~~636,~~055~~725.6043	-	-	-	~~596~~636,~~055~~725.6043	~~596~~636,~~055~~725.6043	-
Total		~~947~~925,~~281~~570,~~739~~860.2810			5,~~687~~604,~~816~~640.1734	-	-	-	5,~~687~~604,~~816~~640.1734	5,~~687~~604,~~816~~640.1734	-
							Page 3 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
SUMMARY					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Principal Collections				10,~~944~~906,~~773~~077.7940	34,~~320~~270,~~591~~421.81	79,~~445~~139,~~513~~274.5802	2124,~~710~~315,~~879~~773.1823
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				10,~~944~~906,~~773~~077.7940	34,~~320~~270,~~591~~421.81	79,~~445~~139,~~513~~274.5802	2124,~~710~~315,~~879~~773.1823
	Interest Collections				2,~~615~~542,~~333~~608.4397	~~731~~710,~~661~~133.6241	2,~~343~~294,~~180~~323.5084	5,~~690~~547,~~175~~066.5522
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	0.00
	Interest Fees				(~~274~~263,~~196~~026.2067)	(7774,~~157~~777.8152)	(~~247~~241,~~060~~347.9712)	(~~598~~579,~~414~~151.9831)
	TOTAL NET INTEREST				2,~~341~~279,~~137~~582.2330	~~654~~635,~~503~~355.8189	2,~~096~~052,~~119~~976.5372	54,~~091~~967,~~760~~914.5791
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE				13,~~285~~185,~~911~~659.0270	34,~~975~~905,~~095~~777.6270	911,~~541~~192,~~633~~250.1174	2629,~~802~~283,~~639~~688.7514
	Prepayment Penalties Collected							~~596~~636,~~055~~725.6043
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							2729,~~398~~920,~~695~~413.3557
PRINCIPAL - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received				~~340~~334,~~668~~261.1447	9794,~~423~~426.5800	~~303~~297,~~043~~430.4674	~~741~~726,~~135~~118.1821
	Prepayments In Full				10,~~588~~560,~~736~~943.4869	34,~~220~~172,~~177~~360.9330	78,~~135~~828,~~341~~415.3948	2023,~~944~~561,~~255~~719.8047
	Curtailments				1510,~~369~~872.1724	23,~~990~~635.3051	713,~~128~~427.7380	2527,~~488~~935.2055
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Principal				0.00	0.00	0.00	0.00
	Repurchased Principal Amounts				0.00	0.00	0.00	0.00
	Other Principal				0.00	0.00	0.00	0.00
	Total Realized Loss Of Principal				0.00	0.00	0.00	0.00
	Delinquent Principal				(~~297~~303,~~515~~414.9588)	(8584,~~683~~915.3398)	(~~263~~266,~~044~~320.7635)	(~~646~~654,~~244~~651.0421)
	Advanced Principal				~~297~~303,~~515~~414.9588	8584,~~683~~915.3398	~~263~~266,~~044~~320.7635	~~646~~654,~~244~~651.0421
	TOTAL PRINCIPAL COLLECTED				10,~~944~~906,~~773~~077.7940	34,~~320~~270,~~591~~421.81	79,~~445~~139,~~513~~274.5802	2124,~~710~~315,~~879~~773.1823
				Page 4 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Interest				2,~~772~~700,~~263~~332.0112	~~775~~753,~~970~~725.1117	2,~~483~~434,~~347~~952.4046	65,~~031~~889,~~580~~009.5275
	Liquidation Interest				0.00	0.00	0.00	0.00
	Repurchased Interest				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Interest				0.00	0.00	0.00	0.00
	Relief Act Interest Shortfalls				0.00	0.00	0.00	0.00
	Net Prepayment Interest Shortfalls				0.00	0.00	0.00	0.00
	Delinquent Interest				(2,~~412~~418,~~652~~221.4861)	(~~679~~666,~~014~~745.2743)	(2,~~145~~154,~~977~~522.3968)	(5,~~237~~239,~~644~~489.1472)
	Interest Advanced				2,~~255~~260,~~722~~498.9046	~~634~~623,~~705~~153.7867	2,~~005~~013,~~810~~894.4906	4,~~896~~897,~~239~~546.1719
	TOTAL INTEREST COLLECTED				2,~~615~~542,~~333~~608.4397	~~731~~710,~~661~~133.6241	2,~~343~~294,~~180~~323.5084	5,~~690~~547,~~175~~066.5522
				Page 5 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	TOTAL INTEREST OTHER ACCOUNTS				0.00	0.00	0.00	0.00
INTEREST - FEES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				2419,~~381~~027.3041	65,~~518~~851.5065	2218,~~395~~831.9593	5343,~~295~~710.7599
	Trustee Fees				~~815~~795.9038	~~228~~222.7250	~~731~~717.5357	1,~~776~~735.1545
	PMI Insurance Fees				~~248~~243,~~999~~203.0088	7068,~~410~~703.5937	~~223~~221,~~933~~797.4962	~~543~~533,~~343~~704.0887
	TOTAL INTEREST OTHER FEES				~~274~~263,~~196~~026.2067	7774,~~157~~777.8152	~~247~~241,~~060~~347.9712	~~598~~579,~~414~~151.9831
				Page 6 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for November 25, 2003 Distribution
	Credit Enhancement Report for December 26, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Reserve Balance (Ending)							1,000.00
INSURANCE					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Overcollateralized Amount							12,499,984.58
	Overcollateralization Target Amount							12,499,984.58
	Overcollateralization Increase Amount							0.00
	Overcollateralization Reduction Amount							0.00
				Page 7 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
COLLATERAL					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original				2304	750	2282	5336
	Prior				2,~~208~~162	~~715~~699	2,~~179~~142	5,~~102~~003
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(4648)	(1620)	(3746)	(99114)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				2,~~162~~114	~~699~~679	2,~~142~~096	54,~~003~~889
	Principal Balance:
	Original				458,973,149.17	129,025,271.41	412,000,345.61	999,998,766.19
	Prior				~~435~~424,~~146~~201,~~115~~341.0223	~~121~~118,~~984~~664,~~782~~190.0423	~~390~~382,~~150~~705,~~842~~328.2264	~~947~~925,~~281~~570,~~739~~860.2810
	Prefunding				-	-	-	-
	Scheduled Principal				(~~340~~334,~~668~~261.1447)	(9794,~~423~~426.5800)	(~~303~~297,~~043~~430.4674)	(~~741~~726,~~135~~118.1821)
	Partial and Full Voluntary Prepayments				(10,~~604~~571,~~105~~815.6593)	(34,~~223~~175,~~168~~995.2381)	(78,~~142~~841,~~470~~843.1228)	(2023,~~969~~589,~~744~~655.0002)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				~~424~~413,~~201~~295,~~341~~263.2383	~~118~~114,~~664~~393,~~190~~768.2342	~~382~~373,~~705~~566,~~328~~054.6462	~~925~~901,~~570~~255,~~860~~086.1087
PREFUNDING					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1		Group 3
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original				7.649125%	7.649632%	7.648471%	7.648921%
	Weighted Average Coupon Prior				7.~~647298~~645054%	7.~~640804~~633445%	7.~~639503~~638115%	7.~~643262~~640701%
	Weighted Average Coupon Current				7.~~645054~~638822%	7.~~633445~~622099%	7.~~638115~~634968%	7.~~640701~~635084%
	Weighted Average Months to Maturity Original				356	354	356	356
	Weighted Average Months to Maturity Prior				~~351~~350	~~350~~349	~~352~~351	~~351~~350
	Weighted Average Months to Maturity Current				~~350~~349	~~349~~348	~~351~~350	~~350~~349
	Weighted Avg Remaining Amortization Term Original				355	354	356	355
	Weighted Avg Remaining Amortization Term Prior				~~351~~350	349	~~352~~351	~~351~~350
	Weighted Avg Remaining Amortization Term Current				~~350~~349	~~349~~348	~~351~~350	~~350~~349
	Weighted Average Seasoning Original				2.17	2.22	2.39	2.27
	Weighted Average Seasoning Prior				67.1617	67.22	67.3837	67.26
	Weighted Average Seasoning Current				78.1716	78.2221	78.37	78.26
Note: Original information refers to deal issue.
	Group 1		Group 3
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original				4.387%	4.360%	5.479%
	Weighted Average Margin Prior				4.~~359~~354%	4.~~334~~298%	5.~~464~~454%
	Weighted Average Margin Current				4.~~354~~360%	4.~~298~~277%	5.~~454~~449%
	Weighted Average Max Rate Original				9.333%	9.257%	11.724%
	Weighted Average Max Rate Prior				9.~~278~~265%	9.~~198~~117%	11.~~684~~666%
	Weighted Average Max Rate Current				9.~~265~~273%	9.~~117~~071%	11.~~666~~649%
	Weighted Average Min Rate Original				5.253%	5.177%	6.624%
	Weighted Average Min Rate Prior				5.~~223~~215%	5.~~141~~093%	6.~~600~~590%
	Weighted Average Min Rate Current				5.~~215~~219%	5.~~093~~064%	6.~~590~~579%
	Weighted Average Cap Up Original				0.680%	0.680%	0.850%
	Weighted Average Cap Up Prior				0.~~676~~675%	0.~~676~~671%	0.~~847~~846%
	Weighted Average Cap Up Current				0.~~675~~676%	0.~~671~~668%	0.~~846~~845%
	Weighted Average Cap Down Original				0.680%	0.680%	0.850%
	Weighted Average Cap Down Prior				0.~~676~~675%	0.~~676~~671%	0.~~847~~846%
	Weighted Average Cap Down Current				0.~~675~~676%	0.~~671~~668%	0.~~846~~845%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				2419,~~381~~027.3041	65,~~518~~851.5065	2218,~~395~~831.9593	5343,~~295~~710.7599
	Delinquent Servicing Fees				~~156~~157,~~929~~723.5815	4443,~~308~~591.4976	140,~~166~~628.9062	341,~~404~~943.9753
	TOTAL SERVICING FEES				~~181~~176,~~310~~750.8856	5049,~~826~~443.9941	~~162~~159,~~562~~460.8555	~~394~~385,~~700~~654.7252
	Prepayment Interest Shortfall				8,~~427~~639.9524	14,~~332~~616.9614	37,~~251~~573.4339	1320,~~012~~828.3477
	Compensating Interest				(8,~~427~~639.9524)	(14,~~332~~616.9614)	(37,~~251~~573.4339)	(1320,~~012~~828.3477)
	Delinquent Servicing Fees				(~~156~~157,~~929~~723.5815)	(4443,~~308~~591.4976)	(140,~~166~~628.9062)	(341,~~404~~943.9753)
	COLLECTED SERVICING FEES				2419,~~381~~027.3041	65,~~518~~851.5065	2218,~~395~~831.9593	5343,~~295~~710.7599
	Aggregate Advances with respect to this Distribution				2,~~553~~563,~~238~~913.8534	~~720~~708,~~389~~069.1165	2,~~268~~280,~~855~~214.2541	5,~~542~~552,~~483~~197.2140
	Current Nonrecoverable Advances				0.00	0.00	0.00	0.00
	Cumulative Nonrecoverable Advances				0.00	0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall							0.00
				Page 10 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1213,~~614~~715,~~241~~014.3812	68,~~323~~677,~~340~~898.1940	67,~~221~~935,~~235~~922.9097	2530,~~158~~328,~~817~~835.4749
		% Balance			1.3652%	0.6896%	0.6788%	23.7237%
		# Loans			6471	3644	3943	~~139~~158
		% # Loans			1.2845%	0.7290%	0.7888%	23.7823%
FORECLOSURE		Balance		-	-	-	710,~~516~~845,~~129~~324.4696	710,~~516~~845,~~129~~324.4696
		% Balance		0.00%	0.00%	0.00%	01.8120%	01.8120%
		# Loans		-	-	-	4767	4767
		% # Loans		0.00%	0.00%	0.00%	01.9437%	01.9437%
BANKRUPTCY		Balance		2,~~804~~661,~~276~~624.1760	~~459~~73,~~933~~561.36	~~156~~206,~~547~~507.8778	~~571~~543,~~121~~540.0846	3,~~991~~485,~~878~~234.4820
		% Balance		0.30%	0.0501%	0.02%	0.06%	0.4339%
		# Loans		1617	41	23	34	25
		% # Loans		0.3235%	0.0802%	0.0406%	0.0608%	0.5051%
REO		Balance		-	-	-	62274,~~730~~523.6394	62274,~~730~~523.6394
		% Balance		0.00%	0.00%	0.00%	0.0103%	0.0103%
		# Loans		-	-	-	14	14
		% # Loans		0.00%	0.00%	0.00%	0.0208%	0.0208%
TOTAL		Balance		2,~~804~~661,~~276~~624.1760	13,~~074~~788,~~174~~575.7448	68,~~479~~884,~~888~~406.0618	1419,~~371~~599,~~217~~312.0733	3644,~~729~~933,~~556~~918.0459
		% Balance		0.30%	1.4153%	0.7099%	12.5517%	34.9799%
		# Loans		1617	6872	3847	90118	~~212~~254
		% # Loans		0.3235%	1.3647%	0.7696%	12.8041%	45.2420%
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 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,~~342~~570,~~365~~501.9967	32,~~116~~913,~~360~~991.3024	32,~~050~~814,~~745~~228.5946	10,~~509~~298,~~471~~721.8837
		% Balance			1.1322%	0.8178%	0.8075%	2.7576%
		# Loans			2628	1720	2016	6364
		% # Loans			1.2134%	0.7995%	0.9376%	23.9405%
FORECLOSURE		Balance		-	-	-	35,~~592~~979,~~617~~791.1749	35,~~592~~979,~~617~~791.1749
		% Balance		0.00%	0.00%	0.00%	01.9460%	01.9460%
		# Loans		-	-	-	2136	2136
		% # Loans		0.00%	0.00%	0.00%	01.9872%	01.9872%
BANKRUPTCY		Balance		~~621~~438,~~831~~823.4551	~~321~~73,~~064~~561.9136	-	~~333~~332,~~052~~796.3744	1845,~~275,948~~181.7331
		% Balance		0.1612%	0.0802%	0.00%	0.09%	0.3323%
		# Loans		54	21	-	2	97
		% # Loans		0.2319%	0.0905%	0.00%	0.0910%	0.4233%
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		~~621~~438,~~831~~823.4551	4,~~663~~644,~~430~~063.9003	32,~~116~~913,~~360~~991.3024	69,~~976~~126,~~415~~816.1339	1517,~~378~~123,~~037~~694.7817
		% Balance		0.1612%	1.2224%	0.8178%	12.8244%	4.0258%
		# Loans		54	2829	1720	4354	93107
		% # Loans		0.2319%	1.3138%	0.7995%	2.0158%	45.3410%
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 12 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			~~989~~1,~~462~~282,021.4604	~~814~~655,~~378~~766.8165	~~879~~1,~~593~~268,826.3618	23,~~683~~206,~~434~~613.6387
		% Balance			01.8312%	0.6957%	01.7411%	2.2680%
		# Loans			78	4	56	1618
		% # Loans			1.0018%	0.5759%	0.7288%	2.2965%
FORECLOSURE		Balance		-	-	-	~~479~~1,~~018~~079,036.2984	~~479~~1,~~018~~079,036.2984
		% Balance		0.00%	0.00%	0.00%	0.4094%	0.4094%
		# Loans		-	-	-	69	69
		% # Loans		0.00%	0.00%	0.00%	01.8633%	01.8633%
BANKRUPTCY		Balance		~~681~~513,~~630~~306.1864	-	-	~~238,068.71~~-	~~919~~513,~~698~~306.8964
		% Balance		0.5745%	0.00%	0.00%	0.2000%	0.7845%
		# Loans		3	-	-	1-	43
		% # Loans		0.4344%	0.00%	0.00%	0.1400%	0.5744%
REO		Balance		-	-	-	-61,470.06	-61,470.06
		% Balance		0.00%	0.00%	0.00%	0.0005%	0.0005%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0015%	0.0015%
TOTAL		Balance		~~681~~513,~~630~~306.1864	~~989~~1,~~462~~282,021.4604	~~814~~655,~~378~~766.8165	12,~~596~~409,~~680~~333.3608	4,~~082~~860,~~151~~427.8141
		% Balance		0.5745%	01.8312%	0.6957%	12.3511%	34.4425%
		# Loans		3	78	4	1216	2631
		% # Loans		0.4344%	1.0018%	0.5759%	12.7236%	34.7257%
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 13 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 3 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			7,~~282~~862,~~412~~491.9341	25,~~392~~108,~~601~~140.0851	23,~~290~~852,~~896~~868.9533	1116,~~965~~823,~~910~~500.9625
		% Balance			1.7290%	01.5624%	0.5493%	24.8207%
		# Loans			3135	1520	1421	6076
		% # Loans			1.4366%	0.6995%	0.6599%	23.7860%
FORECLOSURE		Balance		-	-	-	3,~~444~~786,~~494~~496.0063	3,~~444~~786,~~494~~496.0063
		% Balance		0.00%	0.00%	0.00%	0.8192%	0.8192%
		# Loans		-	-	-	2022	2022
		% # Loans		0.00%	0.00%	0.00%	01.9304%	01.9304%
BANKRUPTCY		Balance		1,~~500~~709,~~814~~494.5445	~~138,868.45~~-	~~156~~206,~~547~~507.8778	-210,744.02	12,~~796~~126,~~230~~746.8625
		% Balance		0.3541%	0.0300%	0.0405%	0.0005%	0.4251%
		# Loans		810	2-	23	-2	1215
		% # Loans		0.3747%	0.0900%	0.0914%	0.0009%	0.5671%
REO		Balance		-	-	-	62213,~~730~~053.6388	62213,~~730~~053.6388
		% Balance		0.00%	0.00%	0.00%	0.0105%	0.0105%
		# Loans		-	-	-	13	13
		% # Loans		0.00%	0.00%	0.00%	0.0514%	0.0514%
TOTAL		Balance		1,~~500~~709,~~814~~494.5445	7,~~421~~862,~~281~~491.3841	25,~~549~~314,~~148~~648.9529	58,~~798~~063,~~121~~162.5886	1722,~~269~~949,~~366~~797.4501
		% Balance		0.3541%	1.7590%	01.6029%	1.3795%	45.0755%
		# Loans		810	3335	1723	3548	93116
		% # Loans		0.3747%	1.5366%	01.7909%	12.6227%	45.3049%
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 14 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REO Report for November 25, 2003 Distribution
	REO Report for December 26, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 1				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Loan Count = 3				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 63,000.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Original Principal Balance = 212,950.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 62,730.63				Loan Group 3 = Group 3 Group; REO Book Value = Not Available
Total Current Balance = 211,824.01				Loan Group 3 = Group 3 Group; REO Book Value = Not Available
REO Book Value = Not Available
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
43665918 3		63,000.00	62,730.63	Apr-01-03	9.900%	MI - 70.00%	360	Feb-24-03
45126612 2		61,750.00	61,470.06	May-01-03	8.950%	MO - 95.00%	360	Mar-31-03
43344100 3		88,200.00	87,601.02	Apr-01-03	7.550%	MI - 85.63%	360	Feb-14-03
44277259 3		63,000.00	62,752.93	May-01-03	9.650%	MO - 90.00%	360	Mar-27-03
				Page 15 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Foreclosure Report for November 25, 2003 Distribution
	Foreclosure Report for December 26, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 34				Loan Group 1 = Group 1 Group
Total Loan Count = 25				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,461,265.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 4,046,257.00				Loan Group 2 = Group 2 Group
Total Current Balance = 5,437,012.83				Loan Group 3 = Group 3 Group
Total Current Balance = 4,026,137.80				Loan Group 3 = Group 3 Group
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
42213322 1		79,900.00	79,566.49	May-01-03	9.350%	OK - 85.00%	360	Feb-27-03
40949604 1		255,000.00	253,110.72	Jul-01-03	8.600%	OH - 85.00%	360	Nov-27-02
42429464 1		193,500.00	192,700.66	Mar-01-03	9.400%	IL - 90.00%	360	Feb-27-03
42680371 1		265,200.00	264,096.70	Jul-01-03	9.950%	AZ - 85.00%	360	Feb-26-03
43160647 1		261,000.00	259,536.86	May-01-03	7.900%	CA - 90.00%	360	Feb-20-03
43197722 1		79,200.00	78,698.87	May-01-03	7.900%	MO - 90.00%	360	Feb-26-03
43507409 1		81,900.00	81,608.14	May-01-03	9.450%	UT - 90.00%	360	Mar-05-03
43686450 1		81,900.00	81,462.20	Jul-01-03	8.750%	OH - 90.00%	360	Feb-25-03
43579820 1		180,000.00	179,365.30	Jun-01-03	9.500%	IL - 90.00%	360	Mar-11-03
44076420 1		124,200.00	123,564.27	May-01-03	8.950%	OH - 90.00%	360	Feb-26-03
43793124 1		171,500.00	170,576.29	May-01-03	8.100%	MN - 79.95%	360	Feb-27-03
44274553 1		150,575.00	149,730.31	Jun-01-03	8.500%	FL - 95.00%	360	Feb-28-03
43873959 1		300,000.00	298,473.65	May-01-03	7.700%	NY - 80.00%	360	Mar-14-03
44331916 1		199,405.00	198,158.59	Jul-01-03	7.350%	MN - 95.00%	360	Mar-12-03
44461705 1		260,000.00	259,102.14	Jun-01-03	9.600%	IL - 58.43%	360	Mar-31-03
44332708 1		119,250.00	118,504.62	Jul-01-03	7.350%	OR - 90.00%	360	Mar-25-03
44504355 1		192,600.00	191,648.92	Jun-01-03	7.850%	MN - 90.00%	360	Mar-26-03
44436939 1		170,000.00	169,084.36	Jul-01-03	8.100%	FL - 57.63%	360	Mar-11-03
44671204 1		172,900.00	172,150.99	Jun-01-03	8.500%	AZ - 95.00%	360	Mar-19-03
44453819 1		71,250.00	70,863.89	May-01-03	8.100%	WI - 75.00%	360	Mar-31-03
44675106 1		216,750.00	215,879.66	May-01-03	9.550%	MI - 85.00%	360	Mar-28-03
44885911 1		201,000.00	200,432.85	Jul-01-03	11.200%	CA - 59.12%	360	Mar-28-03
44845097 1		272,000.00	271,309.55	May-01-03	11.050%	OH - 80.00%	360	Mar-28-03
45011889 1		313,452.00	311,971.90	May-01-03	8.750%	TX - 95.00%	360	Mar-19-03
45181526 1		91,200.00	90,758.56	Apr-01-03	7.950%	IL - 95.00%	360	Mar-25-03
45073756 1		107,100.00	106,594.26	Jul-01-03	8.750%	CO - 90.00%	360	Mar-26-03
45369451 1		133,000.00	132,215.72	May-01-03	6.950%	CA - 95.00%	360	Mar-31-03
45247038 1		171,000.00	170,079.02	Jul-01-03	8.100%	NJ - 95.00%	360	Mar-21-03
45451960 1		83,000.00	82,675.22	Jun-01-03	9.000%	MI - 78.30%	360	Mar-31-03
45574373 1		93,500.00	93,100.74	Jul-01-03	9.900%	MI - 85.00%	360	Mar-31-03
43432665 2		75,200.00	74,821.03	Jun-01-03	8.950%	MO - 80.00%	360	Feb-28-03
43775899 2		269,750.00	268,267.18	Jul-01-03	8.600%	NY - 65.00%	360	Feb-28-03
43812841 2		102,000.00	101,461.57	May-01-03	8.200%	CO - 85.00%	360	Feb-24-03
44215614 2		189,900.00	189,170.22	May-01-03	9.750%	CA - 84.40%	360	Mar-10-03
44192102 2		94,500.00	93,128.03	May-01-03	10.200%	IL - 90.00%	180	Apr-04-03
44324051 2		130,400.00	129,784.25	Jul-01-03	8.750%	MD - 80.00%	360	Mar-10-03
44782290 2		76,500.00	76,164.66	May-01-03	8.450%	OH - 85.00%	360	Mar-31-03
44623916 2		75,050.00	74,747.29	May-01-03	8.850%	MI - 95.00%	360	Apr-04-03
45481454 2		72,250.00	71,937.03	May-01-03	8.500%	OH - 85.00%	360	Mar-31-03
42611061 3		110,400.00	109,748.70	Jul-01-03	8.250%	IN - 80.00%	360	Feb-28-03
43225838 3		212,500.00	211,803.61	May-01-03	9.850%	IL - 85.00%	360	Mar-21-03
43674894 3		110,000.00	109,491.09	Jul-01-03	8.850%	IL - 62.50%	360	Mar-25-03
43540988 3		182,750.00	182,245.34	Apr-01-03	11.300%	NJ - 85.00%	360	Feb-28-03
43688662 3		79,200.00	78,774.76	Jul-01-03	8.750%	OH - 90.00%	360	Feb-25-03
43701390 3		66,300.00	66,053.72	Apr-01-03	9.250%	TN - 78.00%	360	Mar-07-03
44651867 3		207,600.00	207,128.92	Apr-01-03	12.200%	NY - 60.00%	360	Mar-31-03
43999606 3		136,000.00	135,524.85	Apr-01-03	10.200%	NJ - 85.00%	360	Feb-28-03
44938074 3		389,500.00	387,528.47	Jul-01-03	9.000%	UT - 95.00%	360	Mar-26-03
44422079 3		66,600.00	66,327.11	May-01-03	9.450%	MO - 90.00%	360	Mar-11-03
45493384 3		82,425.00	82,043.62	Jul-01-03	8.850%	OH - 75.00%	360	Mar-31-03
44610582 3		107,865.00	107,383.31	May-01-03	8.350%	CO - 85.00%	360	Mar-21-03
44665156 3		126,000.00	125,390.10	May-01-03	7.950%	IL - 90.00%	360	Mar-28-03
44807634 3		64,000.00	63,828.55	Jun-01-03	10.800%	IN - 80.00%	360	Mar-20-03
44908101 3		369,000.00	367,019.96	Jun-01-03	8.050%	IL - 90.00%	360	Mar-31-03
44920874 3		69,300.00	68,999.79	May-01-03	8.500%	FL - 90.00%	360	Mar-18-03
44978625 3		274,500.00	273,369.96	Jun-01-03	8.750%	CA - 90.00%	360	Mar-26-03
45190949 3		338,000.00	336,622.76	May-01-03	8.800%	NV - 89.89%	360	Mar-31-03
45323425 3		263,700.00	262,614.46	Apr-01-03	8.750%	TN - 90.00%	360	Mar-24-03
46232997 3		75,050.00	74,748.84	Jun-01-03	8.100%	AL - 95.00%	360	Apr-10-03
				Page 16 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans				4648	1620	3746	99114
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				4648	1620	3746	99114
	Paid in Full Balance				10,~~588~~560,~~736~~943.4869	34,~~220~~172,~~177~~360.9330	78,~~135~~828,~~341~~415.3948	2023,~~944~~561,~~255~~719.8047
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				1510,~~369~~872.1724	23,~~990~~635.3051	713,~~128~~427.7380	2527,~~488~~935.2055
	Total Prepayment Amount				10,~~604~~571,~~105~~815.6593	34,~~223~~175,~~168~~995.2381	78,~~142~~841,~~470~~843.1228	2023,~~969~~589,~~744~~655.0002
	Cumulative
	Number of Paid in Full Loans				~~136~~184	4969	~~136~~182	~~321~~435
	Number of Repurchased Loans				6	2	4	12
	Total Number of Loans Prepaid in Full				~~142~~190	5171	~~140~~186	~~333~~447
	Paid in Full Balance				3141,~~254~~815,~~177~~120.1382	913,~~424~~596,~~222~~582.5787	2635,~~597~~425,~~149~~564.4088	6790,~~275~~837,~~549~~268.1057
	Repurchased Loans Balance				1,260,085.65	301,432.03	497,880.83	2,059,398.51
	Curtailments Amount				~~164~~175,~~703~~575.2347	3538,~~101~~737.6617	~~348~~362,~~669~~096.0080	~~548~~576,~~473~~409.8944
	Total Prepayment Amount				3243,~~678~~250,~~966~~781.0194	913,~~760~~936,~~756~~752.2607	2736,~~443~~285,~~699~~542.2351	6993,~~883~~473,~~421~~076.5052
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 17 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	SMM				2.4449%	23.6452%	12.8331%	2.2255%
	3 Months Avg SMM				12.8331%	12.8767%	1.5083%	12.7016%
	12 Months Avg SMM
	Avg SMM Since Cut-off				1.2341%	1.3163%	1.1531%	1.2040%
	CPR				2526.6415%	2734.5097%	1924.9048%	2326.5766%
	3 Months Avg CPR				1924.9149%	2027.3074%	1619.5892%	1823.6107%
	12 Months Avg CPR
	Avg CPR Since Cut-off				1315.7866%	1417.6187%	1214.9267%	1315.5354%
	PSA				~~1788~~1601.8578%	~~1905~~2129.1350%	~~1349~~1461.6167%	~~1623~~1614.8267%
	3 Months Avg PSA Approximation				~~1614~~1708.5199%	~~1632~~1922.6222%	~~1300~~1350.3189%	~~1486~~1589.3052%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				~~1475~~1515.7977%	~~1547~~1711.2869%	~~1323~~1363.3462%	~~1420~~1476.6697%
	Group 1		Group 3
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1		Group 3
	Group 2
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 19 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 99						Loan Group 1 = Group 1 Group
Total Loan Count = 114						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 21,047,226.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 23,715,029.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 20,944,255.80						Loan Group 3 = Group 3 Group
Total Prepayment Amount = 23,561,719.47						Loan Group 3 = Group 3 Group
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
39689278 1			152,000.00	150,957.93	Nov-05-03	8.500%	CA - 76.77%	Paid Off - 360	Nov-15-02
40790289 1			159,250.00	157,924.40	Nov-20-03	7.800%	FL - 86.08%	Paid Off - 360	Nov-21-02
41420720 1			268,000.00	265,707.01	Nov-03-03	6.350%	MA - 72.43%	Paid Off - 360	Dec-20-02
40923179 1			318,750.00	316,610.87	Dec-10-03	8.150%	HI - 85.00%	Paid Off - 360	Dec-31-02
41436742 1			135,000.00	134,490.22	Nov-04-03	8.400%	NY - 90.00%	Paid Off - 360	Mar-14-03
42823922 1			85,000.00	84,531.14	Nov-14-03	7.300%	CA - 42.50%	Paid Off - 360	Mar-13-03
41941121 1			144,000.00	143,333.79	Oct-29-03	8.850%	CA - 80.00%	Paid Off - 360	Jan-14-03
42919332 1			125,000.00	124,458.48	Nov-20-03	8.500%	NY - 41.67%	Paid Off - 360	Mar-17-03
42520692 1			400,000.00	398,154.64	Nov-05-03	7.400%	CT - 89.69%	Paid Off - 360	Mar-24-03
42926626 1			227,500.00	226,320.39	Nov-20-03	7.650%	MA - 71.09%	Paid Off - 360	Mar-19-03
42974857 1			232,000.00	230,886.67	Oct-17-03	7.200%	CA - 80.00%	Paid Off - 360	Mar-17-03
42936542 1			157,505.00	156,417.47	Dec-02-03	7.250%	NY - 79.55%	Paid Off - 360	Feb-24-03
43256163 1			224,250.00	222,848.64	Oct-24-03	6.650%	NY - 65.00%	Paid Off - 360	Feb-12-03
43069657 1			152,000.00	151,256.88	Nov-12-03	7.900%	CT - 83.98%	Paid Off - 360	Mar-04-03
43261221 1			189,000.00	188,189.57	Nov-05-03	8.550%	NY - 90.00%	Paid Off - 360	Feb-13-03
43238419 1			253,800.00	252,576.87	Nov-18-03	8.650%	NJ - 90.00%	Paid Off - 360	Feb-19-03
43374560 1			216,500.00	215,460.42	Oct-22-03	7.990%	CA - 84.90%	Paid Off - 360	Mar-06-03
43248954 1			121,500.00	120,881.44	Nov-14-03	7.800%	RI - 90.00%	Paid Off - 360	Mar-26-03
43392638 1			191,250.00	190,556.74	Oct-17-03	9.500%	IL - 85.00%	Paid Off - 360	Mar-14-03
43425933 1			187,000.00	186,076.14	Nov-21-03	7.900%	CA - 85.00%	Paid Off - 360	Mar-03-03
43470301 1			122,550.00	121,949.91	Nov-04-03	7.100%	IL - 95.00%	Paid Off - 360	Mar-17-03
43434414 1			189,000.00	187,895.17	Nov-21-03	7.000%	CA - 70.00%	Paid Off - 360	Mar-11-03
43497460 1			201,000.00	199,869.79	Oct-28-03	7.200%	CA - 59.12%	Paid Off - 360	Feb-21-03
43437946 1			265,000.00	263,310.77	Nov-12-03	7.250%	CA - 89.83%	Paid Off - 360	Feb-27-03
43519222 1			195,500.00	194,879.21	Nov-03-03	10.000%	IL - 85.00%	Paid Off - 360	Feb-19-03
43440528 1			200,000.00	197,821.09	Nov-21-03	6.850%	CA - 76.92%	Paid Off - 360	Mar-10-03
43559475 1			267,000.00	265,627.99	Nov-03-03	7.650%	CA - 73.15%	Paid Off - 360	Mar-06-03
43532951 1			157,000.00	156,201.24	Dec-01-03	7.700%	MA - 73.02%	Paid Off - 360	Mar-13-03
43561380 1			169,650.00	168,793.98	Oct-29-03	6.950%	CA - 65.00%	Paid Off - 360	Mar-31-03
43548882 1			113,400.00	112,620.24	Dec-10-03	6.150%	TX - 79.86%	Paid Off - 360	Mar-07-03
43598168 1			164,000.00	163,158.44	Oct-28-03	7.750%	MN - 89.62%	Paid Off - 360	Feb-21-03
43582303 1			180,000.00	179,175.73	Nov-21-03	8.900%	CA - 90.00%	Paid Off - 360	Mar-12-03
43644731 1			198,000.00	196,774.50	Oct-22-03	6.700%	MA - 69.97%	Paid Off - 360	Feb-26-03
43598366 1			256,500.00	255,202.95	Dec-02-03	7.750%	CA - 90.00%	Paid Off - 360	Mar-07-03
43774439 1			150,000.00	149,622.52	Nov-03-03	10.350%	CA - 68.18%	Paid Off - 360	Mar-14-03
43645506 1			139,500.00	138,756.16	Dec-01-03	8.150%	CA - 87.19%	Paid Off - 360	Mar-11-03
43780766 1			265,500.00	261,924.27	Nov-05-03	7.490%	CA - 90.00%	Paid Off - 360	Feb-21-03
43729011 1			216,600.00	215,276.93	Nov-17-03	6.800%	CA - 95.00%	Paid Off - 360	Mar-18-03
43883321 1			120,750.00	120,165.53	Nov-04-03	7.950%	FL - 75.00%	Paid Off - 360	Feb-26-03
43775238 1			220,400.00	219,304.95	Nov-12-03	8.500%	MN - 95.00%	Paid Off - 360	Feb-28-03
43885144 1			94,000.00	93,637.80	Oct-29-03	8.300%	MI - 62.25%	Paid Off - 360	Mar-05-03
43867324 1			171,000.00	170,001.46	Dec-01-03	7.000%	NY - 90.00%	Paid Off - 360	Mar-12-03
43886654 1			84,150.00	83,807.09	Oct-28-03	8.800%	OH - 90.00%	Paid Off - 360	Feb-24-03
43891761 1			186,400.00	185,373.59	Dec-03-03	7.300%	CA - 50.11%	Paid Off - 360	Mar-18-03
43941228 1			168,000.00	167,161.61	Oct-31-03	7.000%	NY - 80.00%	Paid Off - 360	Mar-25-03
44078350 1			270,300.00	268,938.07	Nov-19-03	7.750%	MA - 85.00%	Paid Off - 360	Mar-04-03
44079309 1			92,150.00	91,746.68	Nov-04-03	8.450%	CA - 95.00%	Paid Off - 360	Mar-04-03
44088151 1			170,000.00	169,047.03	Nov-18-03	7.900%	NY - 87.18%	Paid Off - 360	Feb-28-03
44093235 1			104,400.00	103,896.20	Oct-15-03	9.100%	NH - 90.00%	Paid Off - 360	Mar-03-03
44111813 1			110,500.00	110,045.09	Dec-09-03	8.750%	WI - 76.21%	Paid Off - 360	Mar-11-03
44515708 1			183,000.00	182,262.14	Oct-28-03	8.250%	UT - 83.95%	Paid Off - 360	Mar-11-03
44165702 1			252,000.00	250,014.58	Nov-11-03	6.150%	CA - 90.00%	Paid Off - 360	Feb-28-03
44566792 1			90,000.00	89,693.15	Nov-06-03	8.900%	MI - 90.00%	Paid Off - 360	Mar-21-03
44177632 1			218,500.00	217,141.77	Nov-14-03	6.700%	CA - 95.00%	Paid Off - 360	Mar-31-03
44605541 1			210,000.00	209,230.89	Oct-30-03	8.550%	NY - 75.00%	Paid Off - 360	Mar-15-03
44186369 1			283,500.00	282,043.20	Dec-05-03	7.650%	NY - 90.00%	Paid Off - 360	Mar-10-03
44611796 1			140,250.00	139,550.06	Oct-14-03	7.000%	MN - 85.00%	Paid Off - 360	Mar-21-03
44235166 1			108,550.00	107,772.55	Nov-24-03	6.650%	CA - 65.00%	Paid Off - 360	Feb-28-03
44674976 1			286,450.00	285,153.38	Nov-07-03	7.500%	CA - 85.00%	Paid Off - 360	Mar-27-03
44283091 1			168,000.00	162,573.91	Nov-24-03	8.500%	CA - 80.00%	Paid Off - 180	Mar-26-03
44678563 1			162,400.00	161,665.44	Oct-15-03	7.500%	NY - 80.00%	Paid Off - 360	Mar-19-03
44382968 1			107,108.00	106,653.31	Nov-26-03	8.600%	CA - 85.00%	Paid Off - 360	Mar-17-03
44745412 1			217,500.00	216,766.12	Oct-30-03	8.950%	RI - 79.09%	Paid Off - 360	Mar-19-03
44385326 1			196,000.00	194,763.29	Dec-10-03	6.600%	CA - 80.00%	Paid Off - 360	Mar-31-03
44934032 1			450,000.00	447,767.39	Nov-04-03	7.150%	CA - 78.95%	Paid Off - 360	Mar-27-03
44481000 1			285,950.00	284,276.96	Nov-18-03	6.990%	CA - 95.00%	Paid Off - 360	Mar-17-03
45230430 1			301,750.00	300,599.00	Oct-31-03	8.350%	CO - 85.00%	Paid Off - 360	Mar-25-03
44501385 1			207,000.00	205,825.17	Dec-04-03	7.150%	CA - 90.00%	Paid Off - 360	Mar-14-03
45527173 1			240,000.00	238,995.03	Oct-13-03	6.950%	MD - 75.00%	Paid Off - 360	Apr-04-03
44538619 1			209,000.00	207,545.38	Nov-17-03	6.100%	CA - 92.89%	Paid Off - 360	Mar-14-03
45613452 1			280,000.00	278,643.10	Oct-27-03	7.150%	CA - 79.10%	Paid Off - 360	Mar-31-03
44620839 1			179,000.00	177,944.54	Nov-14-03	6.950%	CA - 71.60%	Paid Off - 360	Apr-04-03
46126751 1			61,600.00	61,414.54	Oct-27-03	8.600%	MI - 70.00%	Paid Off - 360	Apr-23-03
44775211 1			129,000.00	128,685.57	Dec-02-03	10.500%	NJ - 60.00%	Paid Off - 360	Apr-02-03
42255893 2			215,000.00	214,039.84	Oct-22-03	8.350%	MA - 60.56%	Paid Off - 360	Mar-11-03
44788677 1			187,150.00	186,119.48	Nov-28-03	7.300%	CA - 95.00%	Paid Off - 360	Mar-28-03
42669218 2			189,000.00	187,732.51	Nov-07-03	6.990%	CA - 75.00%	Paid Off - 360	Feb-07-03
44816460 1			270,013.00	268,819.31	Nov-11-03	8.400%	CO - 90.00%	Paid Off - 360	Mar-18-03
43281757 2			397,800.00	396,397.35	Oct-29-03	9.500%	MA - 85.00%	Paid Off - 360	Feb-28-03
44845428 1			114,750.00	114,240.60	Nov-21-03	8.850%	RI - 85.00%	Paid Off - 360	Mar-21-03
43665876 2			270,000.00	268,814.60	Oct-15-03	7.650%	MA - 90.00%	Paid Off - 360	Mar-20-03
44983328 1			292,500.00	290,766.89	Nov-26-03	6.950%	CA - 90.00%	Paid Off - 360	Mar-28-03
44160380 2			86,000.00	85,629.84	Oct-20-03	7.750%	MO - 87.76%	Paid Off - 360	Mar-07-03
45056801 1			247,000.00	245,557.68	Nov-24-03	7.000%	CA - 95.00%	Paid Off - 360	Mar-31-03
44320075 2			258,000.00	255,773.95	Nov-06-03	8.800%	MA - 73.71%	Paid Off - 360	Apr-02-03
45110749 1			146,000.00	145,373.18	Dec-08-03	8.550%	CA - 92.41%	Paid Off - 360	Mar-26-03
44384162 2			80,750.00	80,409.31	Nov-10-03	7.850%	FL - 95.00%	Paid Off - 360	Mar-27-03
45266665 1			277,950.00	276,303.58	Nov-14-03	7.000%	FL - 85.00%	Paid Off - 360	Mar-31-03
					Page 20 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 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
44462901 2			196,000.00	194,973.10	Nov-05-03	6.750%	CA - 81.67%	Paid Off - 360	Mar-17-03
45307394 1			110,500.00	107,826.88	Dec-01-03	7.350%	MD - 58.16%	Paid Off - 180	Apr-07-03
44856417 2			284,000.00	282,752.47	Nov-03-03	7.650%	WA - 81.14%	Paid Off - 360	Mar-31-03
45557485 1			263,250.00	262,143.10	Dec-04-03	8.650%	CA - 65.00%	Paid Off - 360	Mar-31-03
44883999 2			218,500.00	217,842.23	Nov-06-03	9.500%	NM - 95.00%	Paid Off - 360	Mar-21-03
40727364 2			220,000.00	218,500.42	Nov-11-03	8.750%	MA - 80.00%	Paid Off - 360	Nov-22-02
44931673 2			178,500.00	176,866.02	Oct-31-03	9.000%	NY - 85.00%	Paid Off - 240	Mar-24-03
42553131 2			171,000.00	170,411.05	Nov-20-03	8.850%	MD - 95.00%	Paid Off - 360	Apr-02-03
44982072 2			124,300.00	123,396.04	Nov-06-03	9.350%	MO - 55.00%	Paid Off - 240	Apr-02-03
42900779 2			139,500.00	138,926.43	Dec-05-03	9.550%	UT - 90.00%	Paid Off - 360	Feb-26-03
44991289 2			155,800.00	154,959.69	Nov-03-03	6.600%	CA - 95.00%	Paid Off - 360	Mar-26-03
43440429 2			200,000.00	198,305.81	Nov-21-03	6.350%	CA - 64.52%	Paid Off - 360	Feb-24-03
45081114 2			221,250.00	220,508.12	Oct-28-03	8.990%	CA - 75.00%	Paid Off - 360	Mar-25-03
43501964 2			205,000.00	203,928.69	Nov-20-03	8.250%	CA - 85.42%	Paid Off - 360	Feb-27-03
45552361 2			202,500.00	201,251.83	Oct-21-03	5.900%	CA - 90.00%	Paid Off - 360	Mar-31-03
43608439 2			322,500.00	321,322.28	Nov-13-03	9.990%	CA - 75.00%	Paid Off - 360	Feb-27-03
45565025 2			160,000.00	158,831.03	Oct-30-03	6.250%	CA - 86.49%	Paid Off - 360	Mar-31-03
43711035 2			276,250.00	274,638.51	Nov-19-03	7.700%	CA - 85.00%	Paid Off - 360	Feb-28-03
38152583 3			146,250.00	145,265.83	Oct-28-03	9.350%	MI - 58.97%	Paid Off - 360	Oct-02-02
43745249 2			180,000.00	175,937.36	Dec-03-03	6.950%	NJ - 90.00%	Paid Off - 180	Mar-21-03
42383745 3			238,400.00	237,377.83	Nov-05-03	8.800%	CA - 80.00%	Paid Off - 360	Feb-26-03
43923481 2			228,000.00	226,744.51	Nov-12-03	7.300%	MA - 95.00%	Paid Off - 360	Mar-31-03
43052463 3			92,400.00	92,040.29	Nov-10-03	8.250%	MN - 68.96%	Paid Off - 360	Mar-26-03
44022515 2			152,000.00	150,755.46	Nov-20-03	6.150%	CA - 84.44%	Paid Off - 360	Feb-25-03
43077742 3			166,250.00	165,576.21	Oct-29-03	8.050%	MA - 95.00%	Paid Off - 360	Mar-07-03
44100402 2			213,750.00	212,017.60	Nov-28-03	6.000%	CA - 75.00%	Paid Off - 360	Feb-26-03
43134956 3			255,000.00	253,263.16	Oct-15-03	6.200%	CA - 85.00%	Paid Off - 360	Feb-19-03
44561751 2			215,000.00	213,980.00	Dec-04-03	8.050%	NY - 76.79%	Paid Off - 360	Mar-11-03
43241074 3			167,875.00	167,094.42	Oct-29-03	8.150%	MI - 85.00%	Paid Off - 360	Feb-26-03
44765311 2			63,996.00	63,732.55	Dec-04-03	8.750%	CA - 90.00%	Paid Off - 360	Mar-28-03
43436336 3			458,000.00	455,715.78	Oct-27-03	7.800%	CA - 79.65%	Paid Off - 360	Feb-28-03
44765634 2			262,500.00	260,838.15	Nov-21-03	6.650%	CA - 87.50%	Paid Off - 360	Mar-28-03
43601053 3			98,600.00	98,318.30	Nov-10-03	9.750%	IL - 85.00%	Paid Off - 360	Mar-31-03
44774131 2			288,000.00	286,445.31	Nov-26-03	7.750%	NJ - 90.00%	Paid Off - 360	Mar-26-03
43603463 3			116,875.00	116,558.19	Nov-04-03	10.000%	IL - 85.00%	Paid Off - 360	Mar-31-03
44923076 2			245,000.00	243,802.20	Nov-20-03	7.900%	NY - 70.00%	Paid Off - 360	Mar-25-03
43633965 3			73,500.00	73,275.97	Oct-31-03	10.200%	WI - 75.00%	Paid Off - 360	Feb-28-03
45011541 2			176,500.00	171,351.63	Nov-26-03	9.350%	IL - 84.05%	Paid Off - 360	Mar-31-03
43697242 3			335,000.00	333,592.48	Oct-29-03	8.650%	CA - 72.51%	Paid Off - 360	Feb-27-03
45143302 2			230,000.00	228,654.29	Nov-26-03	6.990%	CA - 81.56%	Paid Off - 360	Mar-26-03
43704154 3			400,000.00	397,985.08	Oct-21-03	7.750%	NJ - 88.89%	Paid Off - 360	Feb-28-03
45589967 2			314,500.00	313,041.85	Nov-20-03	7.375%	CA - 85.00%	Paid Off - 360	Apr-09-03
43830033 3			60,300.00	60,040.17	Oct-23-03	7.750%	WA - 90.00%	Paid Off - 360	Mar-25-03
45653441 2			99,450.00	99,026.20	Nov-11-03	7.800%	FL - 85.00%	Paid Off - 360	Apr-08-03
43910033 3			190,800.00	189,945.52	Oct-23-03	7.550%	CA - 90.00%	Paid Off - 360	Mar-14-03
40063687 3			335,000.00	332,701.15	Dec-01-03	9.050%	NJ - 80.00%	Paid Off - 360	Oct-25-02
43944321 3			365,000.00	363,901.28	Nov-10-03	8.600%	CA - 57.03%	Paid Off - 360	Apr-14-03
41660283 3			462,000.00	457,464.99	Dec-01-03	6.350%	CA - 77.13%	Paid Off - 360	Dec-24-02
44001816 3			252,000.00	251,185.37	Oct-29-03	8.250%	NJ - 90.00%	Paid Off - 360	Apr-10-03
42833509 3			192,000.00	190,900.42	Dec-05-03	7.100%	MA - 80.00%	Paid Off - 360	Mar-18-03
44017739 3			110,000.00	109,601.19	Nov-05-03	8.600%	MN - 57.00%	Paid Off - 360	Mar-26-03
42947226 3			204,000.00	202,660.91	Nov-21-03	7.100%	CA - 85.00%	Paid Off - 360	Mar-05-03
44022671 3			279,000.00	277,722.08	Oct-15-03	7.650%	CA - 90.00%	Paid Off - 360	Mar-27-03
43350115 3			189,758.00	188,861.96	Nov-19-03	8.750%	CA - 80.00%	Paid Off - 360	Feb-27-03
44132413 3			211,850.00	211,300.47	Nov-04-03	10.250%	NY - 95.00%	Paid Off - 360	Mar-24-03
43384528 3			106,400.00	106,024.83	Nov-28-03	9.500%	WI - 80.00%	Paid Off - 360	Mar-13-03
44176485 3			357,000.00	354,940.87	Oct-16-03	6.250%	CA - 85.00%	Paid Off - 360	Mar-20-03
43553585 3			185,400.00	184,072.18	Nov-21-03	6.650%	CA - 90.00%	Paid Off - 360	Mar-03-03
44303071 3			158,906.00	158,293.70	Nov-04-03	8.300%	MN - 95.00%	Paid Off - 360	Mar-07-03
43561612 3			400,000.00	397,216.93	Nov-12-03	6.800%	CA - 94.12%	Paid Off - 360	Feb-19-03
44329621 3			332,500.00	331,334.93	Oct-24-03	7.850%	IL - 95.00%	Paid Off - 360	Apr-04-03
43597285 3			327,750.00	326,271.50	Nov-19-03	8.300%	CA - 95.00%	Paid Off - 360	Mar-18-03
44428811 3			101,725.00	101,434.29	Nov-10-03	9.750%	FL - 65.00%	Paid Off - 360	Mar-21-03
43604750 3			176,000.00	174,931.89	Dec-02-03	7.500%	CA - 57.71%	Paid Off - 360	Feb-24-03
44483063 3			253,800.00	251,843.11	Nov-04-03	7.550%	NJ - 90.00%	Paid Off - 360	Apr-08-03
43670629 3			291,650.00	289,880.06	Nov-21-03	7.500%	CA - 95.00%	Paid Off - 360	Feb-28-03
44490571 3			149,400.00	148,787.14	Oct-16-03	7.990%	NV - 90.00%	Paid Off - 360	Mar-27-03
43775717 3			85,000.00	84,415.50	Nov-28-03	6.150%	FL - 67.46%	Paid Off - 360	Mar-31-03
44493450 3			465,000.00	462,854.75	Nov-05-03	7.400%	CA - 66.43%	Paid Off - 360	Mar-25-03
43966068 3			190,800.00	189,407.06	Dec-10-03	6.550%	CA - 90.00%	Paid Off - 360	Feb-26-03
44504421 3			424,042.00	422,306.16	Oct-23-03	8.000%	CA - 90.00%	Paid Off - 360	Mar-27-03
43970664 3			277,200.00	275,999.22	Dec-05-03	8.500%	CA - 89.42%	Paid Off - 360	Mar-31-03
44726388 3			96,000.00	95,689.67	Nov-03-03	8.250%	CA - 80.00%	Paid Off - 360	Apr-11-03
44083996 3			204,300.00	202,899.03	Nov-21-03	6.875%	IL - 90.00%	Paid Off - 360	Feb-26-03
44760270 3			389,500.00	387,823.69	Oct-29-03	7.750%	CA - 95.00%	Paid Off - 360	Mar-28-03
44098994 3			90,000.00	89,420.67	Nov-28-03	7.200%	MI - 57.14%	Paid Off - 360	Feb-24-03
44840007 3			129,600.00	129,220.96	Nov-10-03	9.700%	MD - 80.00%	Paid Off - 360	Mar-24-03
44121606 3			357,000.00	354,659.39	Dec-10-03	6.400%	CA - 84.00%	Paid Off - 360	Mar-13-03
44864155 3			171,950.00	171,387.51	Oct-30-03	9.100%	CA - 95.00%	Paid Off - 360	Mar-21-03
44312510 3			375,250.00	372,822.75	Nov-20-03	7.200%	IL - 95.00%	Paid Off - 360	Feb-28-03
44899144 3			346,500.00	341,954.84	Oct-24-03	6.050%	CA - 90.00%	Paid Off - 240	Mar-31-03
44315059 3			208,800.00	208,364.22	Dec-02-03	11.950%	CA - 60.00%	Paid Off - 360	Mar-13-03
44923837 3			283,000.00	281,515.80	Oct-29-03	6.750%	CA - 84.99%	Paid Off - 360	Mar-28-03
44417384 3			95,000.00	94,584.24	Nov-19-03	8.450%	IL - 95.00%	Paid Off - 360	Mar-12-03
45007853 3			251,750.00	250,666.53	Oct-17-03	7.750%	IL - 95.00%	Paid Off - 360	Mar-26-03
44456952 3			250,800.00	249,364.26	Nov-28-03	7.400%	CA - 80.00%	Paid Off - 360	Mar-14-03
45012275 3			365,553.00	364,368.26	Oct-20-03	8.900%	IL - 95.00%	Paid Off - 360	Apr-11-03
44601888 3			93,000.00	91,659.56	Nov-14-03	6.500%	NY - 50.27%	Paid Off - 360	Mar-27-03
45075819 3			169,200.00	168,497.65	Nov-07-03	8.050%	MN - 90.00%	Paid Off - 360	Mar-31-03
44630283 3			180,000.00	179,128.16	Nov-26-03	7.990%	CA - 94.74%	Paid Off - 360	Mar-21-03
45132735 3			73,800.00	73,521.32	Oct-17-03	8.400%	OH - 90.00%	Paid Off - 360	Mar-26-03
44637148 3			182,750.00	182,035.32	Nov-24-03	9.000%	CA - 85.00%	Paid Off - 360	Mar-31-03
45210283 3			499,500.00	497,007.25	Oct-24-03	7.000%	CA - 90.00%	Paid Off - 360	Mar-28-03
44794873 3			335,000.00	333,455.94	Nov-14-03	8.200%	CA - 83.75%	Paid Off - 360	Mar-17-03
45269537 3			205,000.00	203,974.93	Oct-30-03	6.990%	CA - 74.55%	Paid Off - 360	Mar-28-03
44797983 3			111,000.00	110,662.14	Nov-26-03	10.200%	KS - 75.00%	Paid Off - 360	Mar-31-03
45364627 3			264,000.00	262,433.23	Oct-29-03	6.100%	CA - 80.00%	Paid Off - 360	Mar-28-03
44808285 3			213,000.00	212,169.68	Nov-12-03	8.250%	IL - 85.20%	Paid Off - 360	Apr-08-03
45521069 3			499,500.00	497,413.78	Oct-30-03	7.900%	IL - 90.00%	Paid Off - 360	Mar-31-03
44810901 3			107,350.00	106,801.81	Nov-17-03	8.750%	TX - 95.00%	Paid Off - 360	Mar-14-03
45547213 3			70,650.00	70,448.12	Nov-04-03	9.750%	IA - 90.00%	Paid Off - 360	Apr-04-03
44860484 3			80,250.00	80,015.86	Dec-04-03	9.650%	NM - 75.00%	Paid Off - 360	Apr-09-03
45609104 3			163,800.00	163,080.84	Oct-14-03	7.650%	NV - 90.00%	Paid Off - 360	Mar-31-03
44860864 3			95,000.00	94,476.28	Nov-25-03	7.300%	CA - 68.84%	Paid Off - 360	Mar-20-03
					Page 21 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 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
45622370 3			140,250.00	139,782.68	Oct-22-03	8.100%	MA - 75.00%	Paid Off - 360	Apr-09-03
44872885 3			85,000.00	84,666.88	Nov-24-03	8.990%	MI - 85.00%	Paid Off - 360	Mar-19-03
45848751 3			70,500.00	70,331.07	Oct-20-03	9.700%	FL - 75.00%	Paid Off - 360	Apr-09-03
44913283 3			99,600.00	99,341.64	Nov-28-03	10.950%	MN - 60.00%	Paid Off - 360	Mar-25-03
45893369 3			188,700.00	188,063.78	Nov-04-03	8.050%	IL - 85.00%	Paid Off - 360	Apr-15-03
45034832 3			427,500.00	425,075.73	Nov-25-03	7.150%	NY - 90.00%	Paid Off - 360	Mar-31-03
45040185 3			66,500.00	66,214.81	Nov-13-03	8.550%	PA - 95.00%	Paid Off - 360	Mar-19-03
45056678 3			172,699.00	171,958.40	Nov-12-03	8.550%	CA - 90.00%	Paid Off - 360	Mar-31-03
45074986 3			495,000.00	492,405.52	Dec-02-03	7.550%	WA - 75.00%	Paid Off - 360	Mar-24-03
45218146 3			389,500.00	387,438.14	Nov-26-03	7.500%	CA - 95.00%	Paid Off - 360	Mar-28-03
45265170 3			122,400.00	121,890.90	Dec-08-03	8.700%	WA - 90.00%	Paid Off - 360	Mar-31-03
45285137 3			451,250.00	448,954.15	Nov-24-03	7.700%	CA - 95.00%	Paid Off - 360	Mar-24-03
45343977 3			140,000.00	139,182.47	Nov-18-03	7.000%	CA - 87.50%	Paid Off - 360	Apr-11-03
45395332 3			229,500.00	225,676.29	Nov-12-03	8.650%	NJ - 90.00%	Paid Off - 180	Apr-03-03
45407269 3			99,950.00	99,524.06	Nov-14-03	7.800%	TX - 62.49%	Paid Off - 360	Apr-04-03
45468147 3			390,000.00	386,764.47	Dec-03-03	6.150%	CA - 68.30%	Paid Off - 360	Mar-31-03
45543709 3			99,500.00	99,054.38	Nov-13-03	7.550%	FL - 79.60%	Paid Off - 360	Apr-08-03
45557576 3			380,000.00	377,670.73	Dec-03-03	6.750%	CA - 95.00%	Paid Off - 360	Mar-31-03
45702735 3			76,000.00	75,730.61	Nov-24-03	8.750%	IN - 84.92%	Paid Off - 360	Apr-07-03
45784923 3			411,000.00	406,736.36	Nov-17-03	7.450%	MD - 75.00%	Paid Off - 360	Apr-17-03
45834678 3			89,600.00	89,330.24	Dec-03-03	9.500%	MI - 80.00%	Paid Off - 360	Apr-03-03
					Page 22 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					GROUP 3	GROUP 2	GROUP 1	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.
	Cumulative Loss Percentage							0.0000%
	Group 1		Group 3				3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 23 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR				0.00%	0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR				0.00%	0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation				0.00%	0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	0.00%	0.00%	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
	Group 1		Group 3
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 24 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1		Group 3
	Group 2
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 25 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for November 25, 2003 Distribution
	Realized Loss Detail Report for December 26, 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						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00						Loan Group 3 = Group 3 Group
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 26 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for November 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Has a Stepdown Date occurred?							No
	Does Trigger Event exist?							No
	1. Does (A) exceed (B)?							No
	(A) Delinquency Percentage (quotient of (x) over (y))							23.6146%
	(x) 60+ Day Delinq. Loans (incl. FCLs, REOs & BKs)							2431,~~115~~218,~~314~~904.6647
	(y) Stated Principal Balance of the Mortgage Loans							~~925~~901,~~570~~255,~~860~~086.1087
	(B) 51% of Credit Enhancement Percentage							8.~~5407~~7711%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.0000%
	(x) Aggregate Realized Losses to date							0.00
	(y) Cut-off Date Principal Bal. of the Mortgage Loans							999,998,766.19
	(B) Applicable Percentage							100.0000%
	Credit Enhancement Percentage							1617.~~7464~~1982%
ADJUSTABLE RATE CERTIFICATE INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
				Page 27 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Other Related Information for November 25, 2003 Distribution
	Other Related Information for December 26, 2003 Distribution
	Other Related Information
ADDITIONAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Amt: Class A-1							0.00
	Net WAC Rate Carryover Amt: Class A-2							0.00
	Net WAC Rate Carryover Amt: Class A-3							0.00
	Net WAC Rate Carryover Amt: Class A-4							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 A-1 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class A-2 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class A-3 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class A-4 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-1 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-2 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-3 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-4 Unpaid							0.00
				Page 28 of 28				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · AMERIQUEST MORT SEC INC ASSET BACK PS THR CERTS SER 2003-AR2