8-K 1 sam02ar3.txt JULY 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 21, 2003 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-09 90-0076014 Pooling and Servicing Agreement) (Commission 90-0072848 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On July 21, 2003 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2002-AR3 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR3 Trust, relating to the July 21, 2003 distribution. 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. STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR3 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/21/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR3 Trust, relating to the July 21, 2003 distribution.

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 6/230/03 Distribution Date: 67/1921/03 SAM Series: 2002-AR3 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 86358HNX3 SEN 1.~~64750~~42250% ~~506~~502,~~731~~283,~~764~~517.6582 ~~695~~595,~~700~~415.4925 48,~~448~~799,~~246~~857.8333 A-2 86358HNZ8 SEN 1.~~81750~~59250% 19,283,547.75 2925,~~206~~590.5487 0.00 R-I 86358HPA1 RES 3.~~48272~~48249% 0.00 0.00 0.00 R-II 86358HPB9 RES 3.~~48272~~48249% 0.00 0.00 0.00 B-1 86358HPE3 SUB 21.~~01750~~79250% 8,058,678.17 1312,~~548~~037.65 0.00 B-2 86358HPF0 SUB 2.~~31750~~09250% 5,756,284.40 1110,~~116~~037.8252 0.00 B-3 86358HPG8 SUB 2.~~31750~~09250% 2,878,092.20 5,~~558~~018.3267 0.00 B-4 86358HPH6 SUB 32.~~00732~~98444% 1,726,895.32 4,~~327~~294.7784 0.00 B-5 86358HPJ2 SUB 32.~~00732~~98444% 1,151,296.88 2,~~885~~863.2631 0.00 B-6 86358HPK9 SUB 32.~~00732~~98444% 2,878,160.20 7,~~212~~158.9507 0.00 X 86358HNY1 SEN 1.~~33762~~53956% 0.00 ~~604~~690,~~948~~568.8485 0.00 Totals ~~548~~544,~~464~~016,~~719~~472.5774 1,~~374~~352,~~505~~985.6403 48,~~448~~799,~~246~~857.8333

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~502~~493,~~283~~483,~~517~~660.8249 59,~~143~~395,~~947~~272.3258 0.00 A-2 0.00 19,283,547.75 2925,~~206~~590.5487 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 8,058,678.17 1312,~~548~~037.65 0.00 B-2 0.00 5,756,284.40 1110,~~116~~037.8252 0.00 B-3 0.00 2,878,092.20 5,~~558~~018.3267 0.00 B-4 0.00 1,726,895.32 4,~~327~~294.7784 0.00 B-5 0.00 1,151,296.88 2,~~885~~863.2631 0.00 B-6 0.00 2,878,160.20 7,~~212~~158.9507 0.00 X 0.00 0.00 ~~604~~690,~~948~~568.8485 0.00 Totals 0.00 ~~544~~535,~~016~~216,~~472~~615.7441 510,~~822~~152,~~752~~842.4736 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 533,894,100.00 ~~506~~502,~~731~~283,~~764~~517.6582 0.00 48,~~448~~799,~~246~~857.8333 0.00 0.00 A-2 19,283,600.00 19,283,547.75 0.00 0.00 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 B-1 8,058,700.00 8,058,678.17 0.00 0.00 0.00 0.00 B-2 5,756,300.00 5,756,284.40 0.00 0.00 0.00 0.00 B-3 2,878,100.00 2,878,092.20 0.00 0.00 0.00 0.00 B-4 1,726,900.00 1,726,895.32 0.00 0.00 0.00 0.00 B-5 1,151,300.00 1,151,296.88 0.00 0.00 0.00 0.00 B-6 2,878,168.00 2,878,160.20 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 575,627,268.00 ~~548~~544,~~464~~016,~~719~~472.5774 0.00 48,~~448~~799,~~246~~857.8333 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 48,~~448~~799,~~246~~857.8333 ~~502~~493,~~283~~483,~~517~~660.8249 0.~~94079241~~92431001 48,~~448~~799,~~246~~857.8333 A-2 0.00 19,283,547.75 0.99999729 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 0.00 8,058,678.17 0.99999729 0.00 B-2 0.00 5,756,284.40 0.99999729 0.00 B-3 0.00 2,878,092.20 0.99999729 0.00 B-4 0.00 1,726,895.32 0.99999729 0.00 B-5 0.00 1,151,296.88 0.99999729 0.00 B-6 0.00 2,878,160.20 0.99999729 0.00 X 0.00 0.00 0.00000000 0.00 Totals 48,~~448~~799,~~246~~857.8333 ~~544~~535,~~016~~216,~~472~~615.7441 0.~~94508461~~92979719 48,~~448~~799,~~246~~857.8333

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 533,894,100.00 ~~949~~940.~~12411403~~79241149 0.00000000 816.~~33170254~~48240228 0.00000000 A-2 19,283,600.00 999.99729044 0.00000000 0.00000000 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,058,700.00 999.99729113 0.00000000 0.00000000 0.00000000 B-2 5,756,300.00 999.99728993 0.00000000 0.00000000 0.00000000 B-3 2,878,100.00 999.99728988 0.00000000 0.00000000 0.00000000 B-4 1,726,900.00 999.99728994 0.00000000 0.00000000 0.00000000 B-5 1,151,300.00 999.99729002 0.00000000 0.00000000 0.00000000 B-6 2,878,168.00 999.99728994 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 816.~~33170254~~48240228 ~~940~~924.~~79241149~~31000921 0.~~94079241~~92431001 816.~~33170254~~48240228 A-2 0.00000000 0.00000000 999.99729044 0.99999729 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 999.99729113 0.99999729 0.00000000 B-2 0.00000000 0.00000000 999.99728993 0.99999729 0.00000000 B-3 0.00000000 0.00000000 999.99728988 0.99999729 0.00000000 B-4 0.00000000 0.00000000 999.99728994 0.99999729 0.00000000 B-5 0.00000000 0.00000000 999.99729002 0.99999729 0.00000000 B-6 0.00000000 0.00000000 999.99728994 0.99999729 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, ~~Bankruptcy~~Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 533,894,100.00 1.~~64750~~42250% ~~506~~502,~~731~~283,~~764~~517.6582 ~~695~~595,~~700~~415.4925 0.00 0.00 A-2 19,283,600.00 1.~~81750~~59250% 19,283,547.75 2925,~~206~~590.5487 0.00 0.00 R-I 50.00 3.~~48272~~48249% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~48272~~48249% 0.00 0.00 0.00 0.00 B-1 8,058,700.00 21.~~01750~~79250% 8,058,678.17 1312,~~548~~037.65 0.00 0.00 B-2 5,756,300.00 2.~~31750~~09250% 5,756,284.40 1110,~~116~~037.8252 0.00 0.00 B-3 2,878,100.00 2.~~31750~~09250% 2,878,092.20 5,~~558~~018.3267 0.00 0.00 B-4 1,726,900.00 32.~~00732~~98444% 1,726,895.32 4,~~327~~294.7784 0.00 0.00 B-5 1,151,300.00 32.~~00732~~98444% 1,151,296.88 2,~~885~~863.2631 0.00 0.00 B-6 2,878,168.00 32.~~00732~~98444% 2,878,160.20 7,~~212~~158.9507 0.00 0.00 X 0.00 1.~~33762~~53956% ~~542~~538,~~708~~260,~~367~~120.1835 ~~604~~690,~~948~~568.8485 0.00 0.00 Totals 575,627,268.00 1,~~374~~352,~~505~~985.6403 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~695~~595,~~700~~415.4925 0.00 ~~502~~493,~~283~~483,~~517~~660.8249 A-2 0.00 0.00 2925,~~206~~590.5487 0.00 19,283,547.75 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 1312,~~548~~037.65 0.00 8,058,678.17 B-2 0.00 0.00 1110,~~116~~037.8252 0.00 5,756,284.40 B-3 0.00 0.00 5,~~558~~018.3267 0.00 2,878,092.20 B-4 0.00 0.00 4,~~327~~294.7784 0.00 1,726,895.32 B-5 0.00 0.00 2,~~885~~863.2631 0.00 1,151,296.88 B-6 0.00 0.00 7,~~212~~158.9507 0.00 2,878,160.20 X 0.00 0.00 ~~604~~690,~~948~~568.8485 0.00 ~~538~~529,~~260~~460,~~120~~263.3502 Totals 0.00 0.00 1,~~374~~352,~~505~~985.6403 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankruptcy~~Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 533,894,100.00 1.~~64750~~42250% ~~949~~940.~~12411403~~79241149 1.~~30306832~~11523100 0.00000000 0.00000000 A-2 19,283,600.00 1.~~81750~~59250% 999.99729044 1.~~51457923~~32707949 0.00000000 0.00000000 R-I 50.00 3.~~48272~~48249% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~48272~~48249% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,058,700.00 21.~~01750~~79250% 999.99729113 1.~~68124511~~49374589 0.00000000 0.00000000 B-2 5,756,300.00 2.~~31750~~09250% 999.99728993 1.~~93124403~~74374511 0.00000000 0.00000000 B-3 2,878,100.00 2.~~31750~~09250% 999.99728988 1.~~93124631~~74374414 0.00000000 0.00000000 B-4 1,726,900.00 32.~~00732~~98444% 999.99728994 2.~~50609184~~48702299 0.00000000 0.00000000 B-5 1,151,300.00 32.~~00732~~98444% 999.99729002 2.~~50608877~~48702336 0.00000000 0.00000000 B-6 2,878,168.00 32.~~00732~~98444% 999.99728994 2.~~50609068~~48702300 0.00000000 0.00000000 X 0.00 1.~~33762~~53956% ~~952~~944.~~33580520~~53009410 1.~~06155437~~21179897 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 1.~~30306832~~11523100 0.00000000 ~~940~~924.~~79241149~~31000921 A-2 0.00000000 0.00000000 1.~~51457923~~32707949 0.00000000 999.99729044 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.~~68124511~~49374589 0.00000000 999.99729113 B-2 0.00000000 0.00000000 1.~~93124403~~74374511 0.00000000 999.99728993 B-3 0.00000000 0.00000000 1.~~93124631~~74374414 0.00000000 999.99728988 B-4 0.00000000 0.00000000 2.~~50609184~~48702299 0.00000000 999.99728994 B-5 0.00000000 0.00000000 2.~~50608877~~48702336 0.00000000 999.99729002 B-6 0.00000000 0.00000000 2.~~50609068~~48702300 0.00000000 999.99728994 X 0.00000000 0.00000000 1.~~06155437~~21179897 0.00000000 ~~944~~929.~~53009410~~08824776 (6) Amount Does Not Include Excess Special Hazard, ~~Bankruptcy~~Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 510,~~988~~303,~~306~~538.7338 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1019,~~205~~376.8814 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 510,~~998~~322,~~512~~914.6152 Withdrawals Reimbursement for Servicer Advances 1110,~~103~~205.2888 Payment of Service Fee ~~164~~159,~~656~~866.8627 Payment of Interest and Principal 510,~~822~~152,~~752~~842.4737 Total Withdrawals (Pool Distribution Amount) 510,~~998~~322,~~512~~914.6152 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 610,~~738~~138.3685 Servicing Fee Support 610,~~738~~138.3685 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 9291,~~156~~575.7933 Additional Servicing Fee 7978,~~238~~429.4379 Supported Prepayment/Curtailment Interest Shortfall 610,~~738~~138.3685 Net Servicing Fee ~~164~~159,~~656~~866.8627

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 12 0 0 12 ~~283~~433,~~800~~350.00 0.00 0.00 ~~283~~433,~~800~~350.00 30 Days 1225 0 0 0 1225 36,~~423~~384,~~513~~108.9047 0.00 0.00 0.00 36,~~423~~384,~~513~~108.9047 60 Days 13 0 0 0 13 ~~351~~983,~~500~~260.0089 0.00 0.00 0.00 ~~351~~983,~~500~~260.0089 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1328 12 0 0 1430 37,~~775~~367,~~013~~369.9036 ~~283~~433,~~800~~350.00 0.00 0.00 47,~~058~~800,~~813~~719.9036 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~052110~~105541% 0.000000% 0.000000% 0.~~052110~~105541% 0.~~052172~~080974% 0.000000% 0.000000% 0.~~052172~~080974% 30 Days 01.~~625326~~319261% 0.000000% 0.000000% 0.000000% 01.~~625326~~319261% 01.~~629353~~192904% 0.000000% 0.000000% 0.000000% 01.~~629353~~192904% 60 Days 0.~~052110~~158311% 0.000000% 0.000000% 0.000000% 0.~~052110~~158311% 0.~~064617~~183727% 0.000000% 0.000000% 0.000000% 0.~~064617~~183727% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~677436~~477573% 0.~~052110~~105541% 0.000000% 0.000000% 01.~~729547~~583113% 01.~~693971~~376631% 0.~~052172~~080974% 0.000000% 0.000000% 01.~~746142~~457605%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1019,~~205~~376.8814

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~382316~~359435% Weighted Average Net Coupon 3.~~180684~~157437% Weighted Average Pass-Through Rate 32.~~007316~~984435% Weighted Average Maturity(Stepdown Calculation ) ~~294~~293 Beginning Scheduled Collateral Loan Count 1,~~930~~919 Number Of Loans Paid In Full 1124 Ending Scheduled Collateral Loan Count 1,~~919~~895 Beginning Scheduled Collateral Balance ~~548~~544,~~464~~016,~~720~~473.2037 Ending Scheduled Collateral Balance ~~544~~535,~~016~~216,~~473~~616.3704 Ending Actual Collateral Balance at 0230-Jun-2003 ~~543~~535,~~973~~173,~~213~~876.0072 Monthly P &I Constant 1,~~545~~522,~~900~~990.8619 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~544~~535,~~016~~216,~~473~~616.3704 Scheduled Principal 0.00 Unscheduled Principal 48,~~448~~799,~~246~~857.8333

Miscellaneous Reporting Senior Percentage 92.~~390950~~328733% Senior Prep Percentage 100.000000% Subordinate Percentage 7.~~609050~~671267% Subordinate Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORT INV INC MORT PASS THR CERT 2002-AR3