8-K 1 sam03ar2.txt SEPTEMBER 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): September 19, 2003 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2003-AR2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-21 54-2121815 Pooling and Servicing Agreement) (Commission 54-2121816 (State or other File Number) 54-2121817 jurisdiction IRS EIN 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 September 19, 2003 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2003-AR2 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-AR2 Trust, relating to the September 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-AR2 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: 9/22/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-AR2 Trust, relating to the September 19, 2003 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 79/312/03 Distribution Date: 89/19/03 SAM Series: 2003-AR2 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 86358HTY5 SEN 1.~~47000~~48000% ~~371~~370,~~000~~863,~~000~~789.0087 ~~287~~457,~~834~~398.1767 ~~136~~2,~~210~~205,168.1312 A-2 86358HTZ2 SEN 3.~~14197~~04995% 92,~~750~~343,~~000~~599.0018 ~~242~~234,~~848~~702.3646 ~~406~~842,~~400~~622.8202 X 86358HUA5 SEN 21.~~02497~~44902% 0.00 ~~677~~484,~~099~~449.8201 0.00 R-I 86358HUF4 SEN 0.00000% 500.00 0.00 500.00 R-II 86358HUG2 SEN 0.00000% 500.00 0.00 500.00 R-III 86358HUH0 SEN 0.00000% 500.00 0.00 500.00 M 86358HUB3 MEZ 1.~~85000~~86000% 15,000,000.00 1423,~~645~~250.8300 0.00 B-1 86358HUC1 SUB 2.~~10000~~11000% 6,500,000.00 711,~~204~~429.17 0.00 B-2 86358HUD9 SUB 2.~~10000~~11000% 4,750,000.00 58,~~264~~352.5808 0.00 B-3 86358HUE7 SUB 2.~~10000~~11000% 4,000,000.00 47,~~433~~033.33 0.00 B-4 86358HUJ6 SUB 32.~~01052~~98272% 1,750,000.00 4,~~390~~349.3480 0.00 B-5 86358HUL1 SUB 32.~~01052~~98272% 1,250,000.00 3,~~135~~107.9600 0.00 B-6 86358HUN7 SUB 32.~~01052~~98272% 3,000,000.00 7,~~526~~456.3080 0.00 Totals ~~500~~499,~~000~~457,~~150~~389.0005 1,~~254~~241,~~382~~528.8632 ~~542~~3,~~760~~047,790.9514

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~370~~368,~~863~~658,~~789~~621.8775 ~~424~~2,~~044~~662,566.3079 0.00 A-2 0.00 9291,~~343~~500,~~599~~977.1816 ~~649~~1,~~249~~077,324.1848 0.00 X 0.00 0.00 ~~677~~484,~~099~~449.8201 0.00 R-I 0.00 0.00 500.00 0.00 R-II 0.00 0.00 500.00 0.00 R-III 0.00 0.00 500.00 0.00 M 0.00 15,000,000.00 1423,~~645~~250.8300 0.00 B-1 0.00 6,500,000.00 711,~~204~~429.17 0.00 B-2 0.00 4,750,000.00 58,~~264~~352.5808 0.00 B-3 0.00 4,000,000.00 47,~~433~~033.33 0.00 B-4 0.00 1,750,000.00 4,~~390~~349.3480 0.00 B-5 0.00 1,250,000.00 3,~~135~~107.9600 0.00 B-6 0.00 3,000,000.00 7,~~526~~456.3080 0.00 Totals 0.00 ~~499~~496,~~457~~409,~~389~~598.0591 14,~~797~~289,~~143~~318.8146 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-1 371,000,000.00 ~~371~~370,~~000~~863,~~000~~789.0087 0.00 ~~136~~2,~~210~~205,168.1312 0.00 0.00 A-2 92,750,000.00 92,~~750~~343,~~000~~599.0018 0.00 ~~406~~842,~~400~~622.8202 0.00 0.00 R-I 50.00 500.00 0.00 500.00 0.00 0.00 R-II 50.00 500.00 0.00 500.00 0.00 0.00 R-III 50.00 500.00 0.00 500.00 0.00 0.00 M 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00 B-1 6,500,000.00 6,500,000.00 0.00 0.00 0.00 0.00 B-2 4,750,000.00 4,750,000.00 0.00 0.00 0.00 0.00 B-3 4,000,000.00 4,000,000.00 0.00 0.00 0.00 0.00 B-4 1,750,000.00 1,750,000.00 0.00 0.00 0.00 0.00 B-5 1,250,000.00 1,250,000.00 0.00 0.00 0.00 0.00 B-6 3,000,000.00 3,000,000.00 0.00 0.00 0.00 0.00 Totals 500,000,150.00 ~~500~~499,~~000~~457,~~150~~389.0005 0.00 ~~542~~3,~~760~~047,790.9514 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 ~~136~~2,~~210~~205,168.1312 ~~370~~368,~~863~~658,~~789~~621.8775 0.~~99963286~~99368901 ~~136~~2,~~210~~205,168.1312 A-2 ~~406~~842,~~400~~622.8202 9291,~~343~~500,~~599~~977.1816 0.~~99561832~~98653345 ~~406~~842,~~400~~622.8202 R-I 500.00 0.00 0.00000000 500.00 R-II 500.00 0.00 0.00000000 500.00 R-III 500.00 0.00 0.00000000 500.00 M 0.00 15,000,000.00 1.00000000 0.00 B-1 0.00 6,500,000.00 1.00000000 0.00 B-2 0.00 4,750,000.00 1.00000000 0.00 B-3 0.00 4,000,000.00 1.00000000 0.00 B-4 0.00 1,750,000.00 1.00000000 0.00 B-5 0.00 1,250,000.00 1.00000000 0.00 B-6 0.00 3,000,000.00 1.00000000 0.00 Totals ~~542~~3,~~760~~047,790.9514 ~~499~~496,~~457~~409,~~389~~598.0591 0.~~99891448~~99281890 ~~542~~3,~~760~~047,790.9514

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 371,000,000.00 ~~1000~~999.~~00000000~~63285679 0.00000000 05.~~36714321~~94384938 0.00000000 A-2 92,750,000.00 ~~1000~~995.~~00000000~~61832000 0.00000000 49.~~38168000~~08487353 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-II 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-III 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 M 15,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 6,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 4,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 4,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 1,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 3,000,000.00 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 05.~~36714321~~94384938 ~~999~~993.~~63285679~~68900741 0.~~99963286~~99368901 05.~~36714321~~94384938 A-2 0.00000000 49.~~38168000~~08487353 ~~995~~986.~~61832000~~53344647 0.~~99561832~~98653345 49.~~38168000~~08487353 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-II 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-III 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 M 0.00000000 0.00000000 1,000.00000000 1.00000000 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, 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-1 371,000,000.00 1.~~47000~~48000% ~~371~~370,~~000~~863,~~000~~789.0087 ~~287~~457,~~834~~398.1767 0.00 0.00 A-2 92,750,000.00 3.~~14197~~04995% 92,~~750~~343,~~000~~599.0018 ~~242~~234,~~848~~702.3646 0.00 0.00 X 0.00 21.~~02497~~44902% 401,~~250~~113,~~000~~789.0087 ~~677~~484,~~099~~350.8265 0.00 0.00 R-I 50.00 0.00000% 500.00 0.00 0.00 0.00 R-II 50.00 0.00000% 500.00 0.00 0.00 0.00 R-III 50.00 0.00000% 500.00 0.00 0.00 0.00 M 15,000,000.00 1.~~85000~~86000% 15,000,000.00 1423,~~645~~250.8300 0.00 0.00 B-1 6,500,000.00 2.~~10000~~11000% 6,500,000.00 711,~~204~~429.17 0.00 0.00 B-2 4,750,000.00 2.~~10000~~11000% 4,750,000.00 58,~~264~~352.5808 0.00 0.00 B-3 4,000,000.00 2.~~10000~~11000% 4,000,000.00 47,~~433~~033.33 0.00 0.00 B-4 1,750,000.00 32.~~01052~~98272% 1,750,000.00 4,~~390~~349.3480 0.00 0.00 B-5 1,250,000.00 32.~~01052~~98272% 1,250,000.00 3,~~135~~107.9600 0.00 0.00 B-6 3,000,000.00 32.~~01052~~98272% 3,000,000.00 7,~~526~~456.3080 0.00 0.00 Totals 500,000,150.00 1,~~254~~241,~~382~~429.8696 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 ~~287~~457,~~834~~398.1767 0.00 ~~370~~368,~~863~~658,~~789~~621.8775 A-2 0.00 0.00 ~~242~~234,~~848~~702.3646 0.00 9291,~~343~~500,~~599~~977.1816 X 0.00 0.00 ~~677~~484,~~099~~449.8201 0.00 ~~401~~398,~~113~~908,~~789~~621.8775 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 1423,~~645~~250.8300 0.00 15,000,000.00 B-1 0.00 0.00 711,~~204~~429.17 0.00 6,500,000.00 B-2 0.00 0.00 58,~~264~~352.5808 0.00 4,750,000.00 B-3 0.00 0.00 47,~~433~~033.33 0.00 4,000,000.00 B-4 0.00 0.00 4,~~390~~349.3480 0.00 1,750,000.00 B-5 0.00 0.00 3,~~135~~107.9600 0.00 1,250,000.00 B-6 0.00 0.00 7,~~526~~456.3080 0.00 3,000,000.00 Totals 0.00 0.00 1,~~254~~241,~~382~~528.8632 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-1 371,000,000.00 1.~~47000~~48000% ~~1000~~999.~~00000000~~63285679 01.~~77583334~~23288051 0.00000000 0.00000000 A-2 92,750,000.00 3.~~14197~~04995% ~~1000~~995.~~00000000~~61832000 2.~~61831116~~53048474 0.00000000 0.00000000 X 0.00 21.~~02497~~44902% ~~1000~~999.~~00000000~~66053550 1.~~68747619~~20710442 0.00000000 0.00000000 R-I 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 M 15,000,000.00 1.~~85000~~86000% 1000.00000000 01.~~97638867~~55000000 0.00000000 0.00000000 B-1 6,500,000.00 2.~~10000~~11000% 1000.00000000 1.~~10833385~~75833385 0.00000000 0.00000000 B-2 4,750,000.00 2.~~10000~~11000% 1000.00000000 1.~~10833263~~75833263 0.00000000 0.00000000 B-3 4,000,000.00 2.~~10000~~11000% 1000.00000000 1.~~10833250~~75833250 0.00000000 0.00000000 B-4 1,750,000.00 32.~~01052~~98272% 1000.00000000 2.~~50876571~~48560000 0.00000000 0.00000000 B-5 1,250,000.00 32.~~01052~~98272% 1000.00000000 2.~~50876800~~48560000 0.00000000 0.00000000 B-6 3,000,000.00 32.~~01052~~98272% 1000.00000000 2.~~50876667~~48560000 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 01.~~77583334~~23288051 0.00000000 ~~999~~993.~~63285679~~68900741 A-2 0.00000000 0.00000000 2.~~61831116~~53048474 0.00000000 ~~995~~986.~~61832000~~53344647 X 0.00000000 0.00000000 1.~~68747619~~20734956 0.00000000 ~~999~~994.~~66053550~~16478941 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 01.~~97638867~~55000000 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 1.~~10833385~~75833385 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.~~10833263~~75833263 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 1.~~10833250~~75833250 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.~~50876571~~48560000 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.~~50876800~~48560000 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.~~50876667~~48560000 0.00000000 1000.00000000 (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 14,~~935~~398,~~579~~088.1697 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 157,~~958~~013.4045 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 14,~~937~~455,~~537~~102.5642 Withdrawals Reimbursement for Servicer Advances 01,958.0040 Payment of Service Fee ~~140~~163,~~393~~825.7556 Payment of Interest and Principal 14,~~797~~289,~~143~~318.8146 Total Withdrawals (Pool Distribution Amount) 14,~~937~~455,~~537~~102.5642 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 850.4500 Servicing Fee Support 850.4500 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 2739,~~550~~039.7471 Additional Servicing Fee ~~111~~123,~~983~~745.6644 Master Servicing Fee ~~944~~1,040.8041 Supported Prepayment/Curtailment Interest Shortfall 850.4500 Net Servicing Fee ~~140~~163,~~393~~825.7556

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 156 0 0 0 156 ~~737~~20,~~581~~706,563.6440 0.00 0.00 0.00 ~~737~~20,~~581~~706,563.6440 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 156 0 0 0 156 ~~737~~20,~~581~~706,563.6440 0.00 0.00 0.00 ~~737~~20,~~581~~706,563.6440 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 03.~~069061~~502189% 0.000000% 0.000000% 0.000000% 03.~~069061~~502189% 04.~~162834~~171721% 0.000000% 0.000000% 0.000000% 04.~~162834~~171721% 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 03.~~069061~~502189% 0.000000% 0.000000% 0.000000% 03.~~069061~~502189% 04.~~162834~~171721% 0.000000% 0.000000% 0.000000% 04.~~162834~~171721%

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 146 0 0 0 146 ~~737~~17,~~581~~473,713.6453 0.00 0.00 0.00 ~~737~~17,~~581~~473,713.6453 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 146 0 0 0 146 ~~737~~17,~~581~~473,713.6453 0.00 0.00 0.00 ~~737~~17,~~581~~473,713.6453 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~085543~~630624% 0.000000% 0.000000% 0.000000% 03.~~085543~~630624% 04.~~198223~~394577% 0.000000% 0.000000% 0.000000% 04.~~198223~~394577% 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 03.~~085543~~630624% 0.000000% 0.000000% 0.000000% 03.~~085543~~630624% 04.~~198223~~394577% 0.000000% 0.000000% 0.000000% 04.~~198223~~394577% 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 010 0 0 0 010 03,232,849.0087 0.00 0.00 0.00 03,232,849.0087 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 010 0 0 0 010 03,232,849.0087 0.00 0.00 0.00 03,232,849.0087 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~000000~~012048% 0.000000% 0.000000% 0.000000% 03.~~000000~~012048% 03.~~000000~~274253% 0.000000% 0.000000% 0.000000% 03.~~000000~~274253% 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 03.~~000000~~012048% 0.000000% 0.000000% 0.000000% 03.~~000000~~012048% 03.~~000000~~274253% 0.000000% 0.000000% 0.000000% 03.~~000000~~274253%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 157,~~958~~013.4045

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~690924~~376277% Weighted Average Net Coupon 3.~~624802~~272851% Weighted Average Pass-Through Rate 32.~~319204~~982669% Weighted Average Maturity(Stepdown Calculation ) ~~318~~317 Beginning Scheduled Collateral Loan Count 1,~~449~~448 Number Of Loans Paid In Full 1(151) Ending Scheduled Collateral Loan Count 1,~~448~~599 Beginning Scheduled Collateral Balance ~~500~~452,~~000~~957,~~150~~513.3676 Ending Scheduled Collateral Balance ~~452~~496,~~957~~409,~~513~~599.7662 Ending Actual Collateral Balance at 3102-~~Jul~~Sep-2003 ~~452~~496,~~964~~355,~~660~~462.4139 Monthly P &I Constant 1,~~198~~377,~~081~~283.8676 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 ~~499~~496,~~457~~409,~~389~~599.7662 Scheduled Principal 0.00 Unscheduled Principal ~~542~~3,~~610~~047,790.9514

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~573049~~355219 43.~~230826~~460825 3.~~690924~~376277 Weighted Average Net Rate 3.~~497464~~256376 43.~~170434~~336310 3.~~624802~~272851 Weighted Average Maturity ~~315~~314 ~~329~~328 ~~318~~317 Beginning Loan Count 1,169 ~~280~~279 1,~~449~~448 Loans Paid In Full 0(98) 1(53) 1(151) Ending Loan Count 1,~~169~~267 ~~279~~332 1,~~448~~599 Beginning Scheduled Balance 372,~~469~~095,~~463~~753.0018 8180,~~268~~861,~~161~~760.0058 ~~453~~452,~~737~~957,~~624~~513.0076 Ending scheduled Balance ~~372~~397,~~095~~658,~~753~~622.1806 8098,~~861~~750,~~760~~977.5856 ~~452~~496,~~957~~409,~~513~~599.7662 Record Date 0709/3102/2003 0709/3102/2003 0709/3102/2003 Principal And Interest Constant ~~971~~1,~~142~~097,206.1375 ~~226~~280,~~939~~077.7301 1,~~198~~377,~~081~~283.8676 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal ~~136~~2,~~210~~205,168.1312 ~~406~~842,~~400~~622.8202 ~~542~~3,~~610~~047,790.9514 Scheduled Interest 1,~~108~~118,~~335~~025.8750 ~~286~~287,~~526~~230.1901 1,~~394~~405,~~862~~255.0651 Servicing Fees 2330,~~460~~649.8128 48,~~089~~390.9343 2739,~~550~~039.7471 Master Servicing Fees ~~775~~832.4997 ~~169~~207.3144 ~~944~~1,040.8041 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 9198,~~547~~242.8350 2025,~~435~~502.8394 ~~111~~123,~~983~~745.6644 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 ~~992~~988,~~551~~300.7475 ~~261~~253,~~831~~129.1220 1,~~254~~241,~~382~~429.8695 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 32.~~199785~~965912 3.~~866180~~049945 32.~~319204~~982669

Miscellaneous Reporting Group Group 1 Amt Remaining in Int Coverage Acct Gr 1 8513,~~839~~234.5309 Amt Withdrawn from Int Coverage Acct Gr1 7087,~~702~~107.4714 Amt Remaining in Prefunding Acct Group 1 2738,~~768,037~~937.0001 Amt Withdrawn from Prefunding Acct Gr 1 0.00 Amt from Pref Acct to buy Sub Loans Gr1 027,729,099.0099 Group 1 Senior Percentage 92.~~750000~~747530% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 7.~~250000~~252470% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Amt Remaining in Int Coverage Acct Gr 2 619,~~178~~330.1693 Amt Withdrawn from Int Coverage Acct Gr2 4958,~~573~~071.8443 Amt Remaining in Prefunding Acct Group 2 1821,~~731,839~~409.00 Amt Withdrawn from Prefunding Acct Gr 2 0.00 Amt from Pref Acct to buy Sub Loans Gr2 018,710,430.00 Group 2 Senior Percentage 92.~~750000~~720415% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 7.~~250000~~279585% Group 2 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVEST TRUST 2003-AR2