8-K 1 sam03ar1.txt AUGUST 8-K 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): August 19, 2003 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2003-AR1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-20 Pooling and Servicing Agreement) (Commission Pending (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 August 19, 2003 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2003-AR1 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 2003-AR1 Trust, relating to the August 19, 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 2003-AR1 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: 8/26/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-AR1 Trust, relating to the August 19, 2003 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 67/3031/03 Distribution Date: 78/2119/03 SAM Series: 2003-AR1 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 86358HRV3 SEN 1.~~46250~~47000% ~~230~~229,~~611~~527,~~635~~400.6981 281,~~057~~171.9307 13,~~084~~672,~~234~~245.8868 A-2 86358HRW1 SEN 3.~~28977~~23131% 8683,~~543~~728,~~460~~919.2082 ~~237~~225,~~257~~461.0387 21,~~814~~663,~~540~~037.3865 A-3 86358HRX9 SEN 1.~~51250~~52000% ~~124~~119,~~904~~056,~~193~~417.4353 ~~157~~150,~~431~~804.3380 57,~~847~~202,~~775~~139.9111 A-3M 86358HRY7 SEN 1.~~84250~~85000% 32,~~122~~976,~~654~~457.2251 4,~~794~~588.5871 ~~146~~180,~~196~~056.7133 A-4 86358HRZ4 SEN 3.~~29833~~19917% 3534,~~582~~520,~~924~~567.3749 9792,~~803~~030.5297 1,~~062~~733,~~356~~736.8869 A-5 86358HSA8 SEN 3.~~70800~~63000% 19,~~924~~244,~~121~~813.6099 6158,~~565~~215.5456 ~~679~~16,~~307~~463.6043 X-1 86358HSB6 SEN 1.~~46069~~44772% 0.00 ~~548~~532,~~325~~748.0538 0.00 R-I 86358HSH3 RES 3.~~07952~~07407% 0.00 0.00 0.00 R-II 86358HSJ9 RES 3.~~07952~~07407% 0.00 0.00 0.00 R-III 86358HSK6 RES 3.~~07952~~07407% 0.00 0.00 0.00 M 86358HSD2 MEZ 1.~~89250~~90000% 17,~~726~~715,~~529~~139.3976 2728,~~956~~048.2197 11,~~389~~419.6320 B-1 86358HSE0 SUB 2.~~09250~~10000% 8,~~032~~027,~~374~~213.2328 14,~~006~~047.4562 5,~~160~~174.9535 B-2 86358HSF7 SUB 2.~~09250~~10000% 6,~~093~~089,~~563~~647.1896 10,~~625~~656.6588 3,~~915~~925.2340 B-3 86358HSG5 SUB 2.~~09250~~10000% 4,~~431~~428,~~682~~834.3288 7,~~727~~750.7546 2,~~847~~854.4483 B-4 86358HSL4 SUB 3.~~23839~~21301% 1,~~938~~937,~~811~~565.0432 5,~~232~~187.1984 1,~~245~~248.7296 B-5 86358HSM2 SUB 3.~~23839~~21301% 1,~~384~~383,~~850~~960.7596 3,~~737~~705.2456 ~~889~~892.7910 B-6 86358HSN0 SUB 3.~~23839~~21301% 3,~~323~~321,~~951~~816.8010 8,~~970~~894.2118 2,~~135~~141.7025 Totals ~~543~~531,~~620~~958,~~752~~755.2241 1,~~466~~423,~~490~~312.6887 1114,~~661~~495,~~996~~334.8298

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~229~~225,~~527~~855,~~400~~155.8113 13,~~365~~953,~~292~~416.8175 0.00 A-2 0.00 8382,~~728~~065,~~919~~882.8217 31,~~051~~888,~~797~~499.4152 0.00 A-3 0.00 ~~119~~111,~~056~~854,~~417~~278.5342 67,~~005~~352,~~207~~943.2491 0.00 A-3M 0.00 2,~~976~~796,~~457~~401.5118 ~~150~~184,~~991~~645.2904 0.00 A-4 0.00 3432,~~520~~786,~~567~~830.4980 1,~~160~~825,~~160~~767.4066 0.00 A-5 0.00 19,~~244~~228,~~813~~350.9956 ~~740~~74,~~873~~678.1499 0.00 X-1 0.00 0.00 ~~548~~532,~~325~~748.0538 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 M 0.00 17,~~715~~703,~~139~~720.7655 39,~~345~~468.8417 0.00 B-1 0.00 8,~~027~~022,~~213~~038.2892 19,~~167~~221.4097 0.00 B-2 0.00 6,~~089~~085,~~647~~722.9656 14,~~540~~582.8828 0.00 B-3 0.00 4,~~428~~425,~~834~~980.8804 10,~~575~~605.1929 0.00 B-4 0.00 1,~~937~~936,~~565~~316.3236 6,~~477~~436.9180 0.00 B-5 0.00 1,383,~~960~~068.9686 4,~~627~~597.0366 0.00 B-6 0.00 3,~~321~~319,~~816~~674.1085 11,~~105~~035.9143 0.00 Totals 0.00 ~~531~~517,~~958~~463,~~755~~420.4140 1315,~~128~~918,~~487~~647.5085 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-1 230,624,800.00 ~~230~~229,~~611~~527,~~635~~400.6981 700.9500 13,~~084~~672,~~163~~245.9368 0.00 0.00 A-2 87,637,500.00 8683,~~543~~728,~~460~~919.2082 2928,~~515~~673.4466 21,~~785~~634,~~024~~363.9499 0.00 0.00 A-3 132,789,900.00 ~~124~~119,~~904~~056,~~193~~417.4353 ~~213~~208,~~298~~350.6429 56,~~634~~993,~~477~~788.2682 0.00 0.00 A-3M 3,319,800.00 32,~~122~~976,~~654~~457.2251 5,~~332~~208.5584 ~~140~~174,~~864~~847.1649 0.00 0.00 A-4 36,541,400.00 3534,~~582~~520,~~924~~567.3749 4546,~~226~~067.5296 1,~~017~~687,~~130~~668.3673 0.00 0.00 A-5 20,424,100.00 19,~~924~~244,~~121~~813.6099 1912,~~476~~422.3717 ~~659~~4,~~831~~041.2326 0.00 0.00 X-1 0.00 0.00 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 R-III 50.00 0.00 0.00 0.00 0.00 0.00 M 17,737,400.00 17,~~726~~715,~~529~~139.3976 11,~~389~~419.6320 0.00 0.00 0.00 B-1 8,037,300.00 8,~~032~~027,~~374~~213.2328 5,~~160~~174.9535 0.00 0.00 0.00 B-2 6,097,300.00 6,~~093~~089,~~563~~647.1896 3,~~915~~925.2340 0.00 0.00 0.00 B-3 4,434,400.00 4,~~431~~428,~~682~~834.3288 2,~~847~~854.4483 0.00 0.00 0.00 B-4 1,940,000.00 1,~~938~~937,~~811~~565.0432 1,~~245~~248.7296 0.00 0.00 0.00 B-5 1,385,700.00 1,~~384~~383,~~850~~960.7596 ~~889~~892.7910 0.00 0.00 0.00 B-6 3,325,990.36 3,~~323~~321,~~951~~816.8010 2,~~135~~141.7025 0.00 0.00 0.00 Totals 554,295,740.36 ~~543~~531,~~620~~958,~~752~~755.2241 ~~340~~328,~~504~~379.9301 1114,~~321~~166,~~491~~955.8897 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 13,~~084~~672,~~234~~245.8868 ~~229~~225,~~527~~855,~~400~~155.8113 0.~~99524163~~97931860 13,~~084~~672,~~234~~245.8868 A-2 21,~~814~~663,~~540~~037.3865 8382,~~728~~065,~~919~~882.8217 0.~~95540060~~93642427 21,~~814~~663,~~540~~037.3865 A-3 57,~~847~~202,~~775~~139.9111 ~~119~~111,~~056~~854,~~417~~278.5342 0.~~89657736~~84234026 57,~~847~~202,~~775~~139.9111 A-3M ~~146~~180,~~196~~056.7133 2,~~976~~796,~~457~~401.5118 0.~~89657736~~84234026 ~~146~~180,~~196~~056.7133 A-4 1,~~062~~733,~~356~~736.8869 3432,~~520~~786,~~567~~830.4980 0.~~94469745~~89725163 1,~~062~~733,~~356~~736.8869 A-5 ~~679~~16,~~307~~463.6043 19,~~244~~228,~~813~~350.9956 0.~~94226007~~94145400 ~~679~~16,~~307~~463.6043 X-1 0.00 0.00 0.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 M 11,~~389~~419.6320 17,~~715~~703,~~139~~720.7655 0.~~99874501~~99810122 11,~~389~~419.6320 B-1 5,~~160~~174.9535 8,~~027~~022,~~213~~038.2892 0.~~99874501~~99810122 5,~~160~~174.9535 B-2 3,~~915~~925.2340 6,~~089~~085,~~647~~722.9656 0.~~99874501~~99810122 3,~~915~~925.2340 B-3 2,~~847~~854.4483 4,~~428~~425,~~834~~980.8804 0.~~99874501~~99810122 2,~~847~~854.4483 B-4 1,~~245~~248.7296 1,~~937~~936,~~565~~316.3236 0.~~99874501~~99810122 1,~~245~~248.7296 B-5 ~~889~~892.7910 1,383,~~960~~068.9686 0.~~99874501~~99810122 ~~889~~892.7910 B-6 2,~~135~~141.7025 3,~~321~~319,~~816~~674.1085 0.~~99874496~~99810116 2,~~135~~141.7025 Totals 1114,~~661~~495,~~996~~334.8298 ~~531~~517,~~958~~463,~~755~~420.4140 0.~~95970204~~93355114 1114,~~661~~495,~~996~~334.8298

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 230,624,800.00 ~~999~~995.~~94291893~~24162540 0.~~00030764~~00000000 415.~~70098589~~92303031 0.00000000 A-2 87,637,500.00 ~~987~~955.~~51630523~~40059700 0.~~33679007~~32718482 3118.~~77891816~~64913981 0.00000000 A-3 132,789,900.00 ~~940~~896.~~61516298~~57735664 1.~~60628662~~56902212 4252.~~43151972~~66807807 0.00000000 A-3M 3,319,800.00 ~~940~~896.~~61516356~~57735707 1.~~60628652~~56902223 4252.~~43151997~~66807940 0.00000000 A-4 36,541,400.00 ~~973~~944.~~77014482~~69745248 1.~~23767891~~26070594 2746.~~83501344~~18511414 0.00000000 A-5 20,424,100.00 ~~975~~942.~~52017470~~26007462 0.~~95359747~~60821138 320.~~30650212~~19786723 0.00000000 X-1 0.00 0.00000000 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 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 M 17,737,400.00 ~~999~~998.~~38713622~~74501111 0.~~64212511~~64379221 0.00000000 0.00000000 B-1 8,037,300.00 ~~999~~998.~~38713623~~74501138 0.~~64212484~~64379207 0.00000000 0.00000000 B-2 6,097,300.00 ~~999~~998.~~38713529~~74501173 0.~~64212520~~64379315 0.00000000 0.00000000 B-3 4,434,400.00 ~~999~~998.~~38713693~~74501173 0.~~64212520~~64379172 0.00000000 0.00000000 B-4 1,940,000.00 ~~999~~998.~~38713402~~74501031 0.~~64212371~~64379381 0.00000000 0.00000000 B-5 1,385,700.00 ~~999~~998.~~38713286~~74500974 0.~~64212311~~64379014 0.00000000 0.00000000 B-6 3,325,990.36 ~~999~~998.~~38708181~~74495728 0.~~64212453~~64379321 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 415.~~70129353~~92303031 ~~995~~979.~~24162540~~31859509 0.~~99524163~~97931860 415.~~70129353~~92303031 A-2 0.00000000 3218.~~11570823~~97632463 ~~955~~936.~~40059700~~42427237 0.~~95540060~~93642427 3218.~~11570823~~97632463 A-3 0.00000000 4454.~~03780641~~23710019 ~~896~~842.~~57735664~~34025645 0.~~89657736~~84234026 4454.~~03780641~~23710019 A-3M 0.00000000 4454.~~03780649~~23710163 ~~896~~842.~~57735707~~34025544 0.~~89657736~~84234026 4454.~~03780649~~23710163 A-4 0.00000000 2947.~~07269234~~44582008 ~~944~~897.~~69745248~~25163240 0.~~94469745~~89725163 2947.~~07269234~~44582008 A-5 0.00000000 330.~~26009959~~80607860 ~~942~~941.~~26007462~~45399601 0.~~94226007~~94145400 330.~~26009959~~80607860 X-1 0.00000000 0.00000000 0.00000000 0.00000000 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 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.00000000 0.~~64212511~~64379221 998.~~74501111~~10121833 0.~~99874501~~99810122 0.~~64212511~~64379221 B-1 0.00000000 0.~~64212484~~64379207 998.~~74501138~~10121807 0.~~99874501~~99810122 0.~~64212484~~64379207 B-2 0.00000000 0.~~64212520~~64379315 998.~~74501173~~10121857 0.~~99874501~~99810122 0.~~64212520~~64379315 B-3 0.00000000 0.~~64212520~~64379172 998.~~74501173~~10121775 0.~~99874501~~99810122 0.~~64212520~~64379172 B-4 0.00000000 0.~~64212371~~64379381 998.~~74501031~~10121649 0.~~99874501~~99810122 0.~~64212371~~64379381 B-5 0.00000000 0.~~64212311~~64379014 998.~~74500974~~10121960 0.~~99874501~~99810122 0.~~64212311~~64379014 B-6 0.00000000 0.~~64212453~~64379321 998.~~74495728~~10116407 0.~~99874496~~99810116 0.~~64212453~~64379321 (3) Amount Does Not Include Excess Special Hazard, 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-1 230,624,800.00 1.~~46250~~47000% ~~230~~229,~~611~~527,~~635~~400.6981 281,~~057~~171.9307 0.00 0.00 A-2 87,637,500.00 3.~~28977~~23131% 8683,~~543~~728,~~460~~919.2082 ~~237~~225,~~257~~461.0387 0.00 0.00 A-3 132,789,900.00 1.~~51250~~52000% ~~124~~119,~~904~~056,~~193~~417.4353 ~~157~~150,~~431~~804.3380 0.00 0.00 A-3M 3,319,800.00 1.~~84250~~85000% 32,~~122~~976,~~654~~457.2251 4,~~794~~588.5871 0.00 0.00 A-4 36,541,400.00 3.~~29833~~19917% 3534,~~582~~520,~~924~~567.3749 9792,~~803~~030.5297 0.00 0.00 A-5 20,424,100.00 3.~~70800~~63000% 19,~~924~~244,~~121~~813.6099 6158,~~565~~215.5456 0.00 0.00 X-1 0.00 1.~~46069~~44772% ~~450~~441,~~429~~586,~~678~~493.4220 ~~548~~532,~~282~~743.7972 0.00 0.00 R-I 50.00 3.~~07952~~07407% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~07952~~07407% 0.00 0.00 0.00 0.00 R-III 50.00 3.~~07952~~07407% 0.00 0.00 0.00 0.00 M 17,737,400.00 1.~~89250~~90000% 17,~~726~~715,~~529~~139.3976 2728,~~956~~048.2197 0.00 0.00 B-1 8,037,300.00 2.~~09250~~10000% 8,~~032~~027,~~374~~213.2328 14,~~006~~047.4562 0.00 0.00 B-2 6,097,300.00 2.~~09250~~10000% 6,~~093~~089,~~563~~647.1896 10,~~625~~656.6588 0.00 0.00 B-3 4,434,400.00 2.~~09250~~10000% 4,~~431~~428,~~682~~834.3288 7,~~727~~750.7546 0.00 0.00 B-4 1,940,000.00 3.~~23839~~21301% 1,~~938~~937,~~811~~565.0432 5,~~232~~187.1984 0.00 0.00 B-5 1,385,700.00 3.~~23839~~21301% 1,~~384~~383,~~850~~960.7596 3,~~737~~705.2456 0.00 0.00 B-6 3,325,990.36 3.~~23839~~21301% 3,~~323~~321,~~951~~816.8010 8,~~970~~894.2118 0.00 0.00 Totals 554,295,740.36 1,~~466~~423,~~448~~308.4221 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 0.00 281,~~057~~171.9307 0.00 ~~229~~225,~~527~~855,~~400~~155.8113 A-2 0.00 0.00 ~~237~~225,~~257~~461.0387 0.00 8382,~~728~~065,~~919~~882.8217 A-3 0.00 0.00 ~~157~~150,~~431~~804.3380 0.00 ~~119~~111,~~056~~854,~~417~~278.5342 A-3M 0.00 0.00 4,~~794~~588.5871 0.00 2,~~976~~796,~~457~~401.5118 A-4 0.00 0.00 9792,~~803~~030.5297 0.00 3432,~~520~~786,~~567~~830.4980 A-5 0.00 0.00 6158,~~565~~215.5456 0.00 19,~~244~~228,~~813~~350.9956 X-1 0.00 0.00 ~~548~~532,~~325~~748.0538 0.00 ~~441~~428,~~586~~758,~~493~~478.2017 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 M 0.00 0.00 2728,~~956~~048.2197 0.00 17,~~715~~703,~~139~~720.7655 B-1 0.00 0.00 14,~~006~~047.4562 0.00 8,~~027~~022,~~213~~038.2892 B-2 0.00 0.00 10,~~625~~656.6588 0.00 6,~~089~~085,~~647~~722.9656 B-3 0.00 0.00 7,~~727~~750.7546 0.00 4,~~428~~425,~~834~~980.8804 B-4 0.00 0.00 5,~~232~~187.1984 0.00 1,~~937~~936,~~565~~316.3236 B-5 0.00 0.00 3,~~737~~705.2456 0.00 1,383,~~960~~068.9686 B-6 0.00 0.00 8,~~970~~894.2118 0.00 3,~~321~~319,~~816~~674.1085 Totals 0.00 0.00 1,~~466~~423,~~490~~312.6887 0.00 (4) Amount Does Not Include Excess Special Hazard, 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-1 230,624,800.00 1.~~46250~~47000% ~~999~~995.~~94291893~~24162540 1.~~21868043~~21917101 0.00000000 0.00000000 A-2 87,637,500.00 3.~~28977~~23131% ~~987~~955.~~51630523~~40059700 2.~~70725466~~57266433 0.00000000 0.00000000 A-3 132,789,900.00 1.~~51250~~52000% ~~940~~896.~~61516298~~57735664 1.~~18556705~~13566469 0.00000000 0.00000000 A-3M 3,319,800.00 1.~~84250~~85000% ~~940~~896.~~61516356~~57735707 1.~~44423760~~38222483 0.00000000 0.00000000 A-4 36,541,400.00 3.~~29833~~19917% ~~973~~944.~~77014482~~69745248 2.~~67651267~~51853979 0.00000000 0.00000000 A-5 20,424,100.00 3.~~70800~~63000% ~~975~~942.~~52017470~~26007462 32.~~01435755~~85033661 0.00000000 0.00000000 X-1 0.00 1.~~46069~~44772% ~~979~~959.~~18132969~~95728146 1.~~19190253~~15812241 0.00000000 0.00000000 R-I 50.00 3.~~07952~~07407% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~07952~~07407% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 3.~~07952~~07407% 0.00000000 0.00000000 0.00000000 0.00000000 M 17,737,400.00 1.~~89250~~90000% ~~999~~998.~~38713622~~74501111 1.~~57611657~~58134620 0.00000000 0.00000000 B-1 8,037,300.00 2.~~09250~~10000% ~~999~~998.~~38713623~~74501138 1.~~74268100~~74780337 0.00000000 0.00000000 B-2 6,097,300.00 2.~~09250~~10000% ~~999~~998.~~38713529~~74501173 1.~~74268119~~74780313 0.00000000 0.00000000 B-3 4,434,400.00 2.~~09250~~10000% ~~999~~998.~~38713693~~74501173 1.~~74268221~~74780354 0.00000000 0.00000000 B-4 1,940,000.00 3.~~23839~~21301% ~~999~~998.~~38713402~~74501031 2.~~69700515~~67414433 0.00000000 0.00000000 B-5 1,385,700.00 3.~~23839~~21301% ~~999~~998.~~38713286~~74500974 2.~~69700512~~67414303 0.00000000 0.00000000 B-6 3,325,990.36 3.~~23839~~21301% ~~999~~998.~~38708181~~74495728 2.~~69700421~~67414485 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.~~21868043~~21917101 0.00000000 ~~995~~979.~~24162540~~31859509 A-2 0.00000000 0.00000000 2.~~70725466~~57266433 0.00000000 ~~955~~936.~~40059700~~42427237 A-3 0.00000000 0.00000000 1.~~18556705~~13566469 0.00000000 ~~896~~842.~~57735664~~34025645 A-3M 0.00000000 0.00000000 1.~~44423760~~38222483 0.00000000 ~~896~~842.~~57735707~~34025544 A-4 0.00000000 0.00000000 2.~~67651267~~51853979 0.00000000 ~~944~~897.~~69745248~~25163240 A-5 0.00000000 0.00000000 32.~~01435755~~85033661 0.00000000 ~~942~~941.~~26007462~~45399601 X-1 0.00000000 0.00000000 1.~~19199439~~15813254 0.00000000 ~~959~~932.~~95728146~~07068026 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M 0.00000000 0.00000000 1.~~57611657~~58134620 0.00000000 998.~~74501111~~10121833 B-1 0.00000000 0.00000000 1.~~74268100~~74780337 0.00000000 998.~~74501138~~10121807 B-2 0.00000000 0.00000000 1.~~74268119~~74780313 0.00000000 998.~~74501173~~10121857 B-3 0.00000000 0.00000000 1.~~74268221~~74780354 0.00000000 998.~~74501173~~10121775 B-4 0.00000000 0.00000000 2.~~69700515~~67414433 0.00000000 998.~~74501031~~10121649 B-5 0.00000000 0.00000000 2.~~69700512~~67414303 0.00000000 998.~~74500974~~10121960 B-6 0.00000000 0.00000000 2.~~69700421~~67414485 0.00000000 998.~~74495728~~10116407 (6) Amount Does Not Include Excess Special Hazard, 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 1316,~~228~~111,~~638~~510.8593 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 7836,~~454~~740.8913 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1316,~~307~~148,~~093~~251.7406 Withdrawals Reimbursement for Servicer Advances 2078,~~474~~454.5789 Payment of Service Fee ~~158~~151,~~131~~148.6732 Payment of Interest and Principal 1315,~~128~~918,~~487~~647.5085 Total Withdrawals (Pool Distribution Amount) 1316,~~307~~148,~~093~~251.7406 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1216,~~865~~203.3795 Servicing Fee Support 1216,~~865~~203.3795 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 8786,~~821~~362.0612 Additional Servicing Fee 7977,~~885~~851.0459 Master Servicing Fee 1,~~132~~108.3405 Miscellaneous Servicing Fee 2,~~158~~030.6051 Supported Prepayment/Curtailment Interest Shortfall 1216,~~865~~203.3795 Net Servicing Fee ~~158~~151,~~131~~148.6732

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 5720 0 0 0 5720 236,~~097~~275,~~343~~059.3585 0.00 0.00 0.00 236,~~097~~275,~~343~~059.3585 60 Days 04 0 0 0 04 02,747,000.00 0.00 0.00 0.00 02,747,000.00 90 Days 01 0 0 0 01 0151,108.0027 0.00 0.00 0.00 0151,108.0027 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 5725 0 0 0 5725 239,~~097~~173,~~343~~168.3512 0.00 0.00 0.00 239,~~097~~173,~~343~~168.3512 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 31.~~486239~~244555% 0.000000% 0.000000% 0.000000% 31.~~486239~~244555% 41.~~340574~~212245% 0.000000% 0.000000% 0.000000% 41.~~340574~~212245% 60 Days 0.~~000000~~248911% 0.000000% 0.000000% 0.000000% 0.~~000000~~248911% 0.~~000000~~530678% 0.000000% 0.000000% 0.000000% 0.~~000000~~530678% 90 Days 0.~~000000~~062228% 0.000000% 0.000000% 0.000000% 0.~~000000~~062228% 0.~~000000~~029192% 0.000000% 0.000000% 0.000000% 0.~~000000~~029192% 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 31.~~486239~~555694% 0.000000% 0.000000% 0.000000% 31.~~486239~~555694% 41.~~340574~~772114% 0.000000% 0.000000% 0.000000% 41.~~340574~~772114%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 3410 0 0 0 3410 123,~~041~~055,~~983~~745.9516 0.00 0.00 0.00 123,~~041~~055,~~983~~745.9516 60 Days 02 0 0 0 02 01,047,000.00 0.00 0.00 0.00 01,047,000.00 90 Days 01 0 0 0 01 0151,108.0027 0.00 0.00 0.00 0151,108.0027 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 3413 0 0 0 3413 124,~~041~~253,~~983~~853.9543 0.00 0.00 0.00 124,~~041~~253,~~983~~853.9543 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 41.~~161567~~231527% 0.000000% 0.000000% 0.000000% 41.~~161567~~231527% 41.~~838834~~246284% 0.000000% 0.000000% 0.000000% 41.~~838834~~246284% 60 Days 0.~~000000~~246305% 0.000000% 0.000000% 0.000000% 0.~~000000~~246305% 0.~~000000~~427018% 0.000000% 0.000000% 0.000000% 0.~~000000~~427018% 90 Days 0.~~000000~~123153% 0.000000% 0.000000% 0.000000% 0.~~000000~~123153% 0.~~000000~~061629% 0.000000% 0.000000% 0.000000% 0.~~000000~~061629% 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 41.~~161567~~600985% 0.000000% 0.000000% 0.000000% 41.~~161567~~600985% 41.~~838834~~734931% 0.000000% 0.000000% 0.000000% 41.~~838834~~734931% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 154 0 0 0 15 4 475,~~309,800~~750.00 0.00 0.00 0.00 4475,~~309,800~~750.00 60 Days 01 0 0 0 01 0700,000.00 0.00 0.00 0.00 0700,000.00 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 155 0 0 0 155 41,~~309~~175,~~800~~750.00 0.00 0.00 0.00 41,~~309~~175,~~800~~750.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 41.~~885993~~324503% 0.000000% 0.000000% 0.000000% 41.~~885993~~324503% 40.~~733401~~532246% 0.000000% 0.000000% 0.000000% 40.~~733401~~532246% 60 Days 0.~~000000~~331126% 0.000000% 0.000000% 0.000000% 0.~~000000~~331126% 0.~~000000~~783126% 0.000000% 0.000000% 0.000000% 0.~~000000~~783126% 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 41.~~885993~~655629% 0.000000% 0.000000% 0.000000% 41.~~885993~~655629% 41.~~733401~~315372% 0.000000% 0.000000% 0.000000% 41.~~733401~~315372% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 54 0 0 0 54 52,~~339~~055,~~070~~200.0880 0.00 0.00 0.00 52,~~339~~055,~~070~~200.0880 60 Days 01 0 0 0 01 01,000,000.00 0.00 0.00 0.00 01,000,000.00 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 5 0 0 0 5 53,~~339~~055,~~070~~200.0880 0.00 0.00 0.00 53,~~339~~055,~~070~~200.0880 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~428571~~190476% 0.000000% 0.000000% 0.000000% 1.~~428571~~190476% 31.~~995982~~628239% 0.000000% 0.000000% 0.000000% 31.~~995982~~628239% 60 Days 0.~~000000~~297619% 0.000000% 0.000000% 0.000000% 0.~~000000~~297619% 0.~~000000~~792253% 0.000000% 0.000000% 0.000000% 0.~~000000~~792253% 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 1.~~428571~~488095% 0.000000% 0.000000% 0.000000% 1.~~428571~~488095% 32.~~995982~~420492% 0.000000% 0.000000% 0.000000% 32.~~995982~~420492% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 1 0 0 0 1 ~~498~~380,~~562~~062.5072 0.00 0.00 0.00 ~~498~~380,~~562~~062.5072 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 1 0 0 0 1 ~~498~~380,~~562~~062.5072 0.00 0.00 0.00 ~~498~~380,~~562~~062.5072 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~041667~~086957% 0.000000% 0.000000% 0.000000% 1.~~041667~~086957% 1.~~325052~~059056% 0.000000% 0.000000% 0.000000% 1.~~325052~~059056% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 1.~~041667~~086957% 0.000000% 0.000000% 0.000000% 1.~~041667~~086957% 1.~~325052~~059056% 0.000000% 0.000000% 0.000000% 1.~~325052~~059056% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 21 0 0 0 21 ~~907~~308,~~926~~301.8217 0.00 0.00 0.00 ~~907~~308,~~926~~301.8217 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 21 0 0 0 21 ~~907~~308,~~926~~301.8217 0.00 0.00 0.00 ~~907~~308,~~926~~301.8217 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 31.~~076923~~538462% 0.000000% 0.000000% 0.000000% 31.~~076923~~538462% 41.~~328101~~471143% 0.000000% 0.000000% 0.000000% 41.~~328101~~471143% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 31.~~076923~~538462% 0.000000% 0.000000% 0.000000% 31.~~076923~~538462% 41.~~328101~~471143% 0.000000% 0.000000% 0.000000% 41.~~328101~~471143%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 7836,~~454~~740.8913

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~614532~~588234% Weighted Average Net Coupon 3.~~413238~~393417% Weighted Average Pass-Through Rate 3.~~237069~~210719% Weighted Average Maturity(Stepdown Calculation ) ~~333~~332 Beginning Scheduled Collateral Loan Count 1,~~600~~635 Number Of Loans Paid In Full ~~(35)~~28 Ending Scheduled Collateral Loan Count 1,~~635~~607 Beginning Scheduled Collateral Balance ~~523~~531,~~539~~958,~~376~~756.1836 Ending Scheduled Collateral Balance ~~531~~517,~~958~~463,~~756~~421.3638 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2003 ~~532~~517,~~126~~639,~~428~~733.3484 Monthly P &I Constant 1,~~977~~920,~~912~~723.1541 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 ~~531~~517,~~958~~463,~~756~~421.3638 Scheduled Principal ~~340~~328,~~504~~379.9401 Unscheduled Principal 1114,~~321~~166,~~491~~955.8897

Miscellaneous Reporting Deferred Int Added to Group 3, 4, or 5 0.00 Amt from Pref Acct to buy Sub Loans Gr1 ~~13,412,088~~0.00 Amt from Pref Acct to buy Sub Loans Gr2 ~~6,573,250.00 60 Days Delinquencies, Forcls, & REOs~~ 0.00 Basic Risk Reserve RI 424.2666

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~454474~~439353 3.~~639644~~582330 3.~~606553~~524483 Weighted Average Net Rate 3.~~362838~~345875 3.~~538683~~490340 3.~~231553~~149483 Weighted Average Maturity ~~313~~312 ~~328~~327 ~~355~~354 Beginning Loan Count ~~781~~817 ~~290~~307 ~~363~~350 Loans Paid In Full ~~(36)~~5 ~~(17)~~5 1314 Ending Loan Count ~~817~~812 ~~307~~302 ~~350~~336 Beginning Scheduled Balance ~~236~~248,~~531~~902,~~819~~445.1026 8791,~~276~~086,~~923~~382.4698 ~~139~~133,~~443~~429,~~049~~581.4137 Ending scheduled Balance ~~248~~245,~~902~~230,~~445~~199.2658 9189,~~086~~420,~~382~~825.9871 ~~133~~126,~~429~~027,~~581~~441.3755 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~719~~713,~~600~~266.5581 ~~316~~304,~~680~~914.7534 ~~657~~625,~~237~~395.8139 Scheduled Principal 760.9100 3231,~~025~~193.5428 ~~238~~233,~~126~~503.6251 Unscheduled Principal 13,~~084~~672,~~163~~245.9368 21,~~785~~634,~~024~~363.9499 57,~~775~~168,~~341~~636.4231 Scheduled Interest ~~719~~713,~~643~~386.7009 ~~284~~271,~~812~~917.5887 ~~419~~391,~~090~~891.6688 Servicing Fees 1819,~~062~~389.2305 76,~~343~~982.0047 4341,~~575~~696.9675 Master Servicing Fees ~~520~~518.7145 ~~195~~189.5265 ~~290~~277.5199 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 6058,~~045~~379.2359 19,~~839~~472.8100 2,~~158~~030.6051 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~641~~635,~~015~~099.5300 ~~257~~245,~~434~~273.2575 ~~373~~347,~~065~~886.5963 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 3.~~077038~~061918 3.~~289774~~231312 3.~~210477~~128721

Group Level Collateral Statement Group Group 4 Group 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 43.~~039405~~966885 45.~~647222~~108943 3.~~614532~~588234 Weighted Average Net Rate 3.~~664405~~591885 4.~~272222~~733943 3.~~413238~~393417 Weighted Average Maturity ~~355~~ 354 ~~333~~353 332 Beginning Loan Count ~~100~~96 6665 1,~~600~~635 Loans Paid In Full 4 10 ~~(35)~~28 Ending Loan Count 9692 65 1,~~635~~607 Beginning Scheduled Balance 3837,~~649~~582,~~019~~765.0511 2120,~~638~~957,~~565~~581.1664 ~~523~~531,~~539~~958,~~376~~756.1836 Ending scheduled Balance 3735,~~582~~844,~~765~~941.1189 20,~~957~~940,~~581~~012.6465 ~~531~~517,~~958~~463,~~756~~421.3638 Record Date 0607/3031/2003 0607/3031/2003 0607/3031/2003 Principal And Interest Constant ~~179~~174,~~441~~393.4124 ~~104~~102,~~951~~753.63 1,~~977~~920,~~912~~723.1541 Scheduled Principal 4950,~~123~~154.5849 2113,~~152~~527.2973 ~~340~~328,~~504~~379.9401 Unscheduled Principal 1,~~017~~687,~~130~~668.3673 ~~659~~4,~~831~~041.2326 1114,~~321~~166,~~491~~955.8897 Scheduled Interest ~~130~~124,~~099~~238.2075 8389,~~799~~225.3490 1,~~637~~590,~~445~~660.4849 Servicing Fees 1211,~~077~~744.8261 6,~~762~~549.0524 8786,~~821~~362.0612 Master Servicing Fees 8078.5230 4543.0866 1,~~132~~108.3405 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 8279,~~043~~882.6410 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~117~~112,~~940~~415.8684 7682,~~992~~633.2100 1,~~466~~423,~~448~~308.4422 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 3.~~661905~~589385 4.~~269722~~731443 3.~~237069~~210719

Miscellaneous Reporting Group Group 1 Amt Remaining in Int Coverage Acct Gr 1 4,~~618~~379.2788 Amt Withdrawn from Int Coverage Acct Gr1 ~~139~~121.3541 Amt Remaining in Prefunding Acct Group 1 42,779.00 Amt Withdrawn from Prefunding Acct Gr 1 ~~13,412,088~~0.00 Group 1 Senior Percentage 92.~~249567~~215808% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 7.~~750433~~784192% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Amt Remaining in Int Coverage Acct Gr2 5,~~712~~401.2405 Amt Withdrawn from Int Coverage Acct Gr2 ~~180~~158.3459 Amt Remaining in Prefunding Acct Group 2 53,260.00 Amt Withdrawn from Prefunding Acct Gr2 ~~6,573,250~~0.00 Group 2 Senior Percentage 9291.~~162189~~922543% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 78.~~837811~~077457% Group 2 Sen Mez & Sub Prep Percentage 0.000000% Group Group 3 Group 3 Senior Percentage 91.~~813001~~458636% Group 3 Senior Prepayment Percentage 100.000000% Group 3 Sen Mez & Sub Percentage 8.~~186999~~541364% Group 3 Sen Mez & Sub Prep Percentage 0.000000%

Miscellaneous Reporting Group Group 4 Group 4 Senior Percentage 9291.~~066824~~852123% Group 4 Senior Prepayment Percentage 100.000000% Group 4 Sen Mez & Sub Percentage 78.~~933176~~147877% Group 4 Sen Mez & Sub Prep Percentage 0.000000% Group Group 5 Group 5 Senior Percentage 9291.~~076907~~827456% Group 5 Senior Prepayment Percentage 100.000000% Group 5 Sen Mez & Sub Percentage 78.~~923093~~172544% Group 5 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2003-AR1