8-K 1 sam02ar5.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-AR5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-15 90-0073134 Pooling and Servicing Agreement) (Commission 90-0073140 (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-AR5 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-AR5 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-AR5 Trust By: Wells Fargo Bank Minnesota, N.A as Master Servicer 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-AR5 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-AR5 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 86358HRF8 SEN 1.~~76750~~54250% ~~361~~358,~~325~~302,~~327~~887.4668 ~~532~~460,~~202~~568.1050 3,~~022~~683,~~439~~577.7866 A-2 86358HRH4 SEN 21.~~11750~~89250% 15,400,000.00 2724,~~174~~287.5808 0.00 R-I 86358HRJ0 RES 0.00000% 0.00 0.00 0.00 R-II 86358HRK7 RES 0.00000% 0.00 0.00 0.00 X 86358HRG6 SEN 1.~~25798~~43800% 0.00 ~~407~~462,~~717~~439.4612 0.00 B-1 86358HRL5 SUB 2.~~31750~~09250% 5,600,000.00 109,~~815~~765.00 0.00 B-2 86358HRM3 SUB 2.~~31750~~09250% 3,800,000.00 76,~~338~~626.7525 0.00 B-3 86358HRN1 SUB 2.~~31750~~09250% 2,800,000.00 54,~~407~~882.50 0.00 B-4 86358HRP6 SUB 3.~~05659~~01185% 1,400,000.00 3,~~566~~513.0383 0.00 B-5 86358HRQ4 SUB 3.~~05659~~01185% 800,000.00 2,~~037~~007.7390 0.00 B-6 86358HRR2 SUB 3.~~05659~~01185% 2,200,000.00 5,~~603~~521.7573 0.00 Totals ~~393~~390,~~325~~302,~~327~~887.4668 1979,~~001,862~~611.9091 3,~~022~~683,~~439~~577.7866

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~358~~354,~~302~~619,~~887~~310.6802 34,~~554~~144,~~641~~146.8816 0.00 A-2 0.00 15,400,000.00 2724,~~174~~287.5808 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~407~~462,~~717~~439.4612 0.00 B-1 0.00 5,600,000.00 109,~~815~~765.00 0.00 B-2 0.00 3,800,000.00 76,~~338~~626.7525 0.00 B-3 0.00 2,800,000.00 54,~~407~~882.50 0.00 B-4 0.00 1,400,000.00 3,~~566~~513.0383 0.00 B-5 0.00 800,000.00 2,~~037~~007.7390 0.00 B-6 0.00 2,200,000.00 5,~~603~~521.7573 0.00 Totals 0.00 ~~390~~386,~~302~~619,~~887~~310.6802 4,~~024~~663,~~302~~189.6857 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-1 368,000,000.00 ~~361~~358,~~325~~302,~~327~~887.4668 0.00 3,~~022~~683,~~439~~577.7866 0.00 0.00 A-2 15,400,000.00 15,400,000.00 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 X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 5,600,000.00 5,600,000.00 0.00 0.00 0.00 0.00 B-2 3,800,000.00 3,800,000.00 0.00 0.00 0.00 0.00 B-3 2,800,000.00 2,800,000.00 0.00 0.00 0.00 0.00 B-4 1,400,000.00 1,400,000.00 0.00 0.00 0.00 0.00 B-5 800,000.00 800,000.00 0.00 0.00 0.00 0.00 B-6 2,200,000.00 2,200,000.00 0.00 0.00 0.00 0.00 Totals 400,000,100.00 ~~393~~390,~~325~~302,~~327~~887.4668 0.00 3,~~022~~683,~~439~~577.7866 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 3,~~022~~683,~~439~~577.7866 ~~358~~354,~~302~~619,~~887~~310.6802 0.~~97364915~~96363943 3,~~022~~683,~~439~~577.7866 A-2 0.00 15,400,000.00 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 X 0.00 0.00 0.00000000 0.00 B-1 0.00 5,600,000.00 1.00000000 0.00 B-2 0.00 3,800,000.00 1.00000000 0.00 B-3 0.00 2,800,000.00 1.00000000 0.00 B-4 0.00 1,400,000.00 1.00000000 0.00 B-5 0.00 800,000.00 1.00000000 0.00 B-6 0.00 2,200,000.00 1.00000000 0.00 Totals 3,~~022~~683,~~439~~577.7866 ~~390~~386,~~302~~619,~~887~~310.6802 0.~~97575698~~96654803 3,~~022~~683,~~439~~577.7866

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 368,000,000.00 ~~981~~973.~~86230288~~64915130 0.00000000 810.~~21315158~~00972190 0.00000000 A-2 15,400,000.00 1000.00000000 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 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,600,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 3,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 2,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,400,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 2,200,000.00 1000.00000000 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 810.~~21315158~~00972190 ~~973~~963.~~64915130~~63942940 0.~~97364915~~96363943 810.~~21315158~~00972190 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 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 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 368,000,000.00 1.~~76750~~54250% ~~361~~358,~~325~~302,~~327~~887.4668 ~~532~~460,~~202~~568.1050 0.00 0.00 A-2 15,400,000.00 21.~~11750~~89250% 15,400,000.00 2724,~~174~~287.5808 0.00 0.00 R-I 50.00 0.00000% 0.00 0.00 0.00 0.00 R-II 50.00 0.00000% 0.00 0.00 0.00 0.00 X 0.00 1.~~25798~~43800% ~~388~~385,~~925~~902,~~327~~887.4668 ~~407~~462,~~717~~439.4612 0.00 0.00 B-1 5,600,000.00 2.~~31750~~09250% 5,600,000.00 109,~~815~~765.00 0.00 0.00 B-2 3,800,000.00 2.~~31750~~09250% 3,800,000.00 76,~~338~~626.7525 0.00 0.00 B-3 2,800,000.00 2.~~31750~~09250% 2,800,000.00 54,~~407~~882.50 0.00 0.00 B-4 1,400,000.00 3.~~05659~~01185% 1,400,000.00 3,~~566~~513.0383 0.00 0.00 B-5 800,000.00 3.~~05659~~01185% 800,000.00 2,~~037~~007.7390 0.00 0.00 B-6 2,200,000.00 3.~~05659~~01185% 2,200,000.00 5,~~603~~521.7573 0.00 0.00 Totals 400,000,100.00 1979,~~001,862~~611.9091 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 ~~532~~460,~~202~~568.1050 0.00 ~~358~~354,~~302~~619,~~887~~310.6802 A-2 0.00 0.00 2724,~~174~~287.5808 0.00 15,400,000.00 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~407~~462,~~717~~439.4612 0.00 ~~385~~382,~~902~~219,~~887~~310.6802 B-1 0.00 0.00 109,~~815~~765.00 0.00 5,600,000.00 B-2 0.00 0.00 76,~~338~~626.7525 0.00 3,800,000.00 B-3 0.00 0.00 54,~~407~~882.50 0.00 2,800,000.00 B-4 0.00 0.00 3,~~566~~513.0383 0.00 1,400,000.00 B-5 0.00 0.00 2,~~037~~007.7390 0.00 800,000.00 B-6 0.00 0.00 5,~~603~~521.7573 0.00 2,200,000.00 Totals 0.00 0.00 1979,~~001,862~~611.9091 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-1 368,000,000.00 1.~~76750~~54250% ~~981~~973.~~86230288~~64915130 1.~~44620136~~25154484 0.00000000 0.00000000 A-2 15,400,000.00 21.~~11750~~89250% 1000.00000000 1.~~76458312~~57708312 0.00000000 0.00000000 R-I 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 1.~~25798~~43800% ~~983~~975.~~12772361~~48758261 1.~~03063059~~16895632 0.00000000 0.00000000 B-1 5,600,000.00 2.~~31750~~09250% 1000.00000000 1.~~93125000~~74375000 0.00000000 0.00000000 B-2 3,800,000.00 2.~~31750~~09250% 1000.00000000 1.~~93125000~~74375000 0.00000000 0.00000000 B-3 2,800,000.00 2.~~31750~~09250% 1000.00000000 1.~~93125000~~74375000 0.00000000 0.00000000 B-4 1,400,000.00 3.~~05659~~01185% 1000.00000000 2.~~54716429~~50987857 0.00000000 0.00000000 B-5 800,000.00 3.~~05659~~01185% 1000.00000000 2.~~54716250~~50987500 0.00000000 0.00000000 B-6 2,200,000.00 3.~~05659~~01185% 1000.00000000 2.~~54715909~~50987727 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.~~44620136~~25154484 0.00000000 ~~973~~963.~~64915130~~63942940 A-2 0.00000000 0.00000000 1.~~76458312~~57708312 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 1.~~03063059~~16895632 0.00000000 ~~975~~966.~~48758261~~17621340 B-1 0.00000000 0.00000000 1.~~93125000~~74375000 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.~~93125000~~74375000 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 1.~~93125000~~74375000 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.~~54716429~~50987857 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.~~54716250~~50987500 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.~~54715909~~50987727 0.00000000 1000.00000000 (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 4,~~159~~778,~~528~~759.3680 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1013,~~440~~841.3585 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 4,~~169~~792,~~968~~601.7165 Withdrawals Reimbursement for Servicer Advances 10,~~732~~440.1935 Payment of Service Fee ~~134~~118,~~933~~971.8473 Payment of Interest and Principal 4,~~024~~663,~~302~~189.6857 Total Withdrawals (Pool Distribution Amount) 4,~~169~~792,~~968~~601.7165 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 2,~~579~~997.8896 Servicing Fee Support 2,~~579~~997.8896 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 3722,~~596~~866.7148 Additional Servicing Fee 99,~~917~~103.0121 Supported Prepayment/Curtailment Interest Shortfall 2,~~579~~997.8896 Net Servicing Fee ~~134~~118,~~933~~971.8473

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 01 0 0 01 0380,000.00 0.00 0.00 0380,000.00 30 Days 1218 01 0 0 1219 34,~~310~~479,~~168~~029.9073 0130,882.0047 0.00 0.00 34,~~310~~609,~~168~~912.9020 60 Days 02 0 0 0 02 0295,561.0088 0.00 0.00 0.00 0295,561.0088 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 10 0 0 0 10 ~~340,000~~0.00 0.00 0.00 0.00 ~~340,000~~0.00 180+ Days 10 0 0 0 10 ~~104,499~~0.9800 0.00 0.00 0.00 ~~104,499~~0.9800 Totals 1420 02 0 0 1422 34,~~754~~774,~~668~~591.8861 0510,882.0047 0.00 0.00 35,~~754~~285,~~668~~474.8808 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.~~000000~~076805% 0.000000% 0.000000% 0.~~000000~~076805% 0.~~000000~~098287% 0.000000% 0.000000% 0.~~000000~~098287% 30 Days 01.~~916730~~382488% 0.~~000000~~076805% 0.000000% 0.000000% 01.~~916730~~459293% 01.~~848060~~158507% 0.~~000000~~033853% 0.000000% 0.000000% 01.~~848060~~192359% 60 Days 0.~~000000~~153610% 0.000000% 0.000000% 0.000000% 0.~~000000~~153610% 0.~~000000~~076447% 0.000000% 0.000000% 0.000000% 0.~~000000~~076447% 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.~~076394~~000000% 0.000000% 0.000000% 0.000000% 0.~~076394~~000000% 0.~~087107~~000000% 0.000000% 0.000000% 0.000000% 0.~~087107~~000000% 180+ Days 0.~~076394~~000000% 0.000000% 0.000000% 0.000000% 0.~~076394~~000000% 0.~~026773~~000000% 0.000000% 0.000000% 0.000000% 0.~~026773~~000000% Totals 1.~~069519~~536098% 0.~~000000~~153610% 0.000000% 0.000000% 1.~~069519~~689708% 01.~~961941~~234954% 0.~~000000~~132140% 0.000000% 0.000000% 01.~~961941~~367094%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1013,~~440~~841.3585

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~476135~~386851% Weighted Average Net Coupon 3.~~361431~~316548% Weighted Average Pass-Through Rate 3.~~056593~~011851% Weighted Average Maturity(Stepdown Calculation ) ~~310~~309 Beginning Scheduled Collateral Loan Count 1,~~317~~309 Number Of Loans Paid In Full 87 Ending Scheduled Collateral Loan Count 1,~~309~~302 Beginning Scheduled Collateral Balance ~~393~~390,~~325~~302,~~327~~887.4668 Ending Scheduled Collateral Balance ~~390~~386,~~302~~619,~~887~~310.6802 Ending Actual Collateral Balance at 0230-Jun-2003 ~~390~~386,~~322~~621,~~322~~022.8326 Monthly P &I Constant 1,~~139~~107,~~376~~007.8139 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 ~~390~~386,~~302~~619,~~887~~310.6802 Scheduled Principal 0.00 Unscheduled Principal 3,~~022~~683,~~439~~577.7866

Miscellaneous Reporting Average Loss Severity for Prior Month 0.00 Senior Percentage 91.~~864241~~801239% Senior Prepayment Percentage 100.000000% Subordinate Percentage 8.~~135759~~198761% Subordinate Prepayment Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORT INV INC MORT PS THR CERT SER 2002-AR5