8-K 1 sam03ar2.txt OCTOBER 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): October 20, 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 October 20, 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 October 20, 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: 10/20/03 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 October 20, 2003 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 9/230/03 Distribution Date: 910/1920/03 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.~~48000~~49000% ~~370~~368,~~863~~658,~~789~~621.8775 457,~~398~~751.6712 2,~~205~~842,~~168~~825.1237 A-2 86358HTZ2 SEN 3.~~04995~~04515% 9291,~~343~~500,~~599~~977.1816 ~~234~~232,~~702~~194.4697 ~~842~~1,~~622~~994,287.0231 X 86358HUA5 SEN 1.~~44902~~40968% 0.00 ~~484~~468,~~449~~621.0137 0.00 R-I 86358HUF4 SEN 0.00000% 0.00 0.00 0.00 R-II 86358HUG2 SEN 0.00000% 0.00 0.00 0.00 R-III 86358HUH0 SEN 0.00000% 0.00 0.00 0.00 M 86358HUB3 MEZ 1.~~86000~~87000% 15,000,000.00 23,~~250~~375.00 0.00 B-1 86358HUC1 SUB 2.~~11000~~12000% 6,500,000.00 11,~~429~~483.1733 0.00 B-2 86358HUD9 SUB 2.~~11000~~12000% 4,750,000.00 8,~~352~~391.0867 0.00 B-3 86358HUE7 SUB 2.~~11000~~12000% 4,000,000.00 7,~~033~~066.3367 0.00 B-4 86358HUJ6 SUB 2.~~98272~~95815% 1,750,000.00 4,~~349~~313.8097 0.00 B-5 86358HUL1 SUB 2.~~98272~~95815% 1,250,000.00 3,~~107~~081.0041 0.00 B-6 86358HUN7 SUB 2.~~98272~~95815% 3,000,000.00 7,~~456~~395.8037 0.00 Totals ~~499~~496,~~457~~409,~~389~~598.0591 1,~~241~~223,~~528~~674.3288 34,~~047~~837,~~790~~112.1468

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~368~~365,~~658~~815,~~621~~796.7538 23,~~662~~300,~~566~~576.7949 0.00 A-2 0.00 9189,~~500~~506,~~977~~689.1685 12,~~077~~226,~~324~~482.4828 0.00 X 0.00 0.00 ~~484~~468,~~449~~621.0137 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 15,000,000.00 23,~~250~~375.00 0.00 B-1 0.00 6,500,000.00 11,~~429~~483.1733 0.00 B-2 0.00 4,750,000.00 8,~~352~~391.0867 0.00 B-3 0.00 4,000,000.00 7,~~033~~066.3367 0.00 B-4 0.00 1,750,000.00 4,~~349~~313.8097 0.00 B-5 0.00 1,250,000.00 3,~~107~~081.0041 0.00 B-6 0.00 3,000,000.00 7,~~456~~395.8037 0.00 Totals 0.00 ~~496~~491,~~409~~572,~~598~~486.9123 46,~~289~~060,~~318~~787.4656 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 ~~370~~368,~~863~~658,~~789~~621.8775 0.00 2,~~205~~842,~~168~~825.1237 0.00 0.00 A-2 92,750,000.00 9291,~~343~~500,~~599~~977.1816 0.00 ~~842~~1,~~622~~994,287.0231 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 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 ~~499~~496,~~457~~409,~~389~~598.0591 0.00 34,~~047~~837,~~790~~112.1468 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 2,~~205~~842,~~168~~825.1237 ~~368~~365,~~658~~815,~~621~~796.7538 0.~~99368901~~98602641 2,~~205~~842,~~168~~825.1237 A-2 ~~842~~1,~~622~~994,287.0231 9189,~~500~~506,~~977~~689.1685 0.~~98653345~~96503170 ~~842~~1,~~622~~994,287.0231 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 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 34,~~047~~837,~~790~~112.1468 ~~496~~491,~~409~~572,~~598~~486.9123 0.~~99281890~~98314468 34,~~047~~837,~~790~~112.1468

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 ~~999~~993.~~63285679~~68900741 0.00000000 57.~~94384938~~66260208 0.00000000 A-2 92,750,000.00 ~~995~~986.~~61832000~~53344647 0.00000000 921.~~08487353~~50174997 0.00000000 X 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 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 57.~~94384938~~66260208 ~~993~~986.~~68900741~~02640534 0.~~99368901~~98602641 57.~~94384938~~66260208 A-2 0.00000000 921.~~08487353~~50174997 ~~986~~965.~~53344647~~03169650 0.~~98653345~~96503170 921.~~08487353~~50174997 X 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 0.00000000 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~~Bankruptcy, 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.~~48000~~49000% ~~370~~368,~~863~~658,~~789~~621.8775 457,~~398~~751.6712 0.00 0.00 A-2 92,750,000.00 3.~~04995~~04515% 9291,~~343~~500,~~599~~977.1816 ~~234~~232,~~702~~194.4697 0.00 0.00 X 0.00 1.~~44902~~40968% ~~401~~398,~~113~~908,~~789~~621.8775 ~~484~~468,~~350~~610.6506 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 R-III 50.00 0.00000% 0.00 0.00 0.00 0.00 M 15,000,000.00 1.~~86000~~87000% 15,000,000.00 23,~~250~~375.00 0.00 0.00 B-1 6,500,000.00 2.~~11000~~12000% 6,500,000.00 11,~~429~~483.1733 0.00 0.00 B-2 4,750,000.00 2.~~11000~~12000% 4,750,000.00 8,~~352~~391.0867 0.00 0.00 B-3 4,000,000.00 2.~~11000~~12000% 4,000,000.00 7,~~033~~066.3367 0.00 0.00 B-4 1,750,000.00 2.~~98272~~95815% 1,750,000.00 4,~~349~~313.8097 0.00 0.00 B-5 1,250,000.00 2.~~98272~~95815% 1,250,000.00 3,~~107~~081.0041 0.00 0.00 B-6 3,000,000.00 2.~~98272~~95815% 3,000,000.00 7,~~456~~395.8037 0.00 0.00 Totals 500,000,150.00 1,~~241~~223,~~429~~663.9657 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 0.00 457,~~398~~751.6712 0.00 ~~368~~365,~~658~~815,~~621~~796.7538 A-2 0.00 0.00 ~~234~~232,~~702~~194.4697 0.00 9189,~~500~~506,~~977~~689.1685 X 0.00 0.00 ~~484~~468,~~449~~621.0137 0.00 ~~398~~396,~~908~~065,~~621~~796.7538 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 23,~~250~~375.00 0.00 15,000,000.00 B-1 0.00 0.00 11,~~429~~483.1733 0.00 6,500,000.00 B-2 0.00 0.00 8,~~352~~391.0867 0.00 4,750,000.00 B-3 0.00 0.00 7,~~033~~066.3367 0.00 4,000,000.00 B-4 0.00 0.00 4,~~349~~313.8097 0.00 1,750,000.00 B-5 0.00 0.00 3,~~107~~081.0041 0.00 1,250,000.00 B-6 0.00 0.00 7,~~456~~395.8037 0.00 3,000,000.00 Totals 0.00 0.00 1,~~241~~223,~~528~~674.3288 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, 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.~~48000~~49000% ~~999~~993.~~63285679~~68900741 1.~~23288051~~23383051 0.00000000 0.00000000 A-2 92,750,000.00 3.~~04995~~04515% ~~995~~986.~~61832000~~53344647 2.~~53048474~~50344981 0.00000000 0.00000000 X 0.00 1.~~44902~~40968% ~~999~~994.~~66053550~~16478941 1.~~20710442~~16787554 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 R-III 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 M 15,000,000.00 1.~~86000~~87000% 1000.00000000 1.~~55000000~~55833333 0.00000000 0.00000000 B-1 6,500,000.00 2.~~11000~~12000% 1000.00000000 1.~~75833385~~76666615 0.00000000 0.00000000 B-2 4,750,000.00 2.~~11000~~12000% 1000.00000000 1.~~75833263~~76666737 0.00000000 0.00000000 B-3 4,000,000.00 2.~~11000~~12000% 1000.00000000 1.~~75833250~~76666750 0.00000000 0.00000000 B-4 1,750,000.00 2.~~98272~~95815% 1000.00000000 2.~~48560000~~46512571 0.00000000 0.00000000 B-5 1,250,000.00 2.~~98272~~95815% 1000.00000000 2.~~48560000~~46512800 0.00000000 0.00000000 B-6 3,000,000.00 2.~~98272~~95815% 1000.00000000 2.~~48560000~~46512333 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.~~23288051~~23383051 0.00000000 ~~993~~986.~~68900741~~02640534 A-2 0.00000000 0.00000000 2.~~53048474~~50344981 0.00000000 ~~986~~965.~~53344647~~03169650 X 0.00000000 0.00000000 1.~~20734956~~16790373 0.00000000 ~~994~~987.~~16478941~~07986637 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.~~55000000~~55833333 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 1.~~75833385~~76666615 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.~~75833263~~76666737 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 1.~~75833250~~76666750 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.~~48560000~~46512571 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.~~48560000~~46512800 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.~~48560000~~46512333 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,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 46,~~398~~249,~~088~~075.9707 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5736,~~013~~035.4502 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 46,~~455~~285,~~102~~110.4209 Withdrawals Reimbursement for Servicer Advances 157,~~958~~013.4045 Payment of Service Fee ~~163~~167,~~825~~309.5608 Payment of Interest and Principal 46,~~289~~060,~~318~~787.4656 Total Withdrawals (Pool Distribution Amount) 46,~~455~~285,~~102~~110.4209 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 3943,~~039~~227.7130 Additional Servicing Fee 123,~~745~~047.4472 Master Servicing Fee 1,~~040~~034.4106 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~163~~167,~~825~~309.5608

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 5639 0 0 0 5639 2012,~~706~~164,~~563~~589.4015 0.00 0.00 0.00 2012,~~706~~164,~~563~~589.4015 60 Days 02 0 0 0 02 01,181,900.00 0.00 0.00 0.00 01,181,900.00 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 5641 0 0 0 5641 2013,~~706~~346,~~563~~489.4015 0.00 0.00 0.00 2013,~~706~~346,~~563~~489.4015 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 32.~~502189~~448211% 0.000000% 0.000000% 0.000000% 32.~~502189~~448211% 42.~~171721~~474910% 0.000000% 0.000000% 0.000000% 42.~~171721~~474910% 60 Days 0.~~000000~~125549% 0.000000% 0.000000% 0.000000% 0.~~000000~~125549% 0.~~000000~~240460% 0.000000% 0.000000% 0.000000% 0.~~000000~~240460% 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 32.~~502189~~573760% 0.000000% 0.000000% 0.000000% 32.~~502189~~573760% 42.~~171721~~715370% 0.000000% 0.000000% 0.000000% 42.~~171721~~715370%

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 4631 0 0 0 4631 1710,~~473~~173,~~713~~214.5300 0.00 0.00 0.00 1710,~~473~~173,~~713~~214.5300 60 Days 01 0 0 0 01 0950,000.00 0.00 0.00 0.00 0950,000.00 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 4632 0 0 0 4632 1711,~~473~~123,~~713~~214.5300 0.00 0.00 0.00 1711,~~473~~123,~~713~~214.5300 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~630624~~450593% 0.000000% 0.000000% 0.000000% 32.~~630624~~450593% 42.~~394577~~576951% 0.000000% 0.000000% 0.000000% 42.~~394577~~576951% 60 Days 0.~~000000~~079051% 0.000000% 0.000000% 0.000000% 0.~~000000~~079051% 0.~~000000~~240642% 0.000000% 0.000000% 0.000000% 0.~~000000~~240642% 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 32.~~630624~~529644% 0.000000% 0.000000% 0.000000% 32.~~630624~~529644% 42.~~394577~~817593% 0.000000% 0.000000% 0.000000% 42.~~394577~~817593% 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 108 0 0 0 108 31,~~232~~991,~~849~~375.8715 0.00 0.00 0.00 31,~~232~~991,~~849~~375.8715 60 Days 01 0 0 0 01 0231,900.00 0.00 0.00 0.00 0231,900.00 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 109 0 0 0 109 32,~~232~~223,~~849~~275.8715 0.00 0.00 0.00 32,~~232~~223,~~849~~275.8715 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~012048~~439024% 0.000000% 0.000000% 0.000000% 32.~~012048~~439024% 32.~~274253~~058498% 0.000000% 0.000000% 0.000000% 32.~~274253~~058498% 60 Days 0.~~000000~~304878% 0.000000% 0.000000% 0.000000% 0.~~000000~~304878% 0.~~000000~~239717% 0.000000% 0.000000% 0.000000% 0.~~000000~~239717% 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 32.~~012048~~743902% 0.000000% 0.000000% 0.000000% 32.~~012048~~743902% 32.~~274253~~298214% 0.000000% 0.000000% 0.000000% 32.~~274253~~298214%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5736,~~013~~035.4502

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~376277~~362480% Weighted Average Net Coupon 3.~~272851~~257984% Weighted Average Pass-Through Rate 2.~~982669~~958034% Weighted Average Maturity(Stepdown Calculation ) ~~317~~316 Beginning Scheduled Collateral Loan Count 1,~~448~~599 Number Of Loans Paid In Full ~~(151)~~6 Ending Scheduled Collateral Loan Count 1,~~599~~593 Beginning Scheduled Collateral Balance ~~452~~496,~~957~~409,~~513~~599.7662 Ending Scheduled Collateral Balance ~~496~~491,~~409~~572,~~599~~486.6294 Ending Actual Collateral Balance at 0230-Sep-2003 ~~496~~491,~~355~~516,~~462~~387.3932 Monthly P &I Constant 1,~~377~~398,~~283~~475.7680 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 ~~496~~491,~~409~~572,~~599~~486.6294 Scheduled Principal 0.00 Unscheduled Principal 34,~~047~~837,~~790~~112.1468

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~355219~~333825 3.~~460825~~477870 3.~~376277~~362480 Weighted Average Net Rate 3.~~256376~~233578 3.~~336310~~356265 3.~~272851~~257984 Weighted Average Maturity ~~314~~313 ~~328~~327 ~~317~~316 Beginning Loan Count 1,~~169~~267 ~~279~~332 1,~~448~~599 Loans Paid In Full ~~(98)~~2 ~~(53)~~4 ~~(151)~~6 Ending Loan Count 1,~~267~~265 ~~332~~328 1,~~599~~593 Beginning Scheduled Balance ~~372~~397,~~095~~658,~~753~~622.1806 8098,~~861~~750,~~760~~977.5856 ~~452~~496,~~957~~409,~~513~~599.7662 Ending scheduled Balance ~~397~~394,~~658~~815,~~622~~796.0669 9896,~~750~~756,~~977~~690.5625 ~~496~~491,~~409~~572,~~599~~486.6294 Record Date 09/0230/2003 09/0230/2003 09/0230/2003 Principal And Interest Constant 1,~~097~~105,~~206~~078.7521 ~~280~~293,~~077~~397.0159 1,~~377~~398,~~283~~475.7680 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 2,~~205~~842,~~168~~825.1237 ~~842~~1,~~622~~994,287.0231 34,~~047~~837,~~790~~112.1468 Scheduled Interest 1,~~118~~104,~~025~~770.5011 ~~287~~286,~~230~~202.0154 1,~~405~~390,~~255~~972.5165 Servicing Fees 3033,~~649~~220.2811 810,~~390~~007.4319 3943,~~039~~227.7130 Master Servicing Fees ~~832~~828.9737 ~~207~~205.4469 1,~~040~~034.4106 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 9897,~~242~~650.5078 25,~~502~~396.94 123,~~745~~047.4472 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 ~~988~~973,~~300~~070.7585 ~~253~~250,~~129~~592.2072 1,~~241~~223,~~429~~663.9557 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 2.~~965912~~936401 3.~~049945~~045147 2.~~982669~~958034

Miscellaneous Reporting Group Group 1 Amt Remaining in Int Coverage Acct Gr 1 13,~~234~~714.0975 Amt Withdrawn from Int Coverage Acct Gr1 ~~87,107~~111.1458 Amt Remaining in Prefunding Acct Group 1 38,937.01 Amt Withdrawn from Prefunding Acct Gr 1 0.00 Amt from Pref Acct to buy Sub Loans Gr1 ~~27,729,099~~0.9900 Group 1 Senior Percentage 92.~~747530~~707313% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 7.~~252470~~292687% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Amt Remaining in Int Coverage Acct Gr 2 9,~~330~~591.9373 Amt Withdrawn from Int Coverage Acct Gr2 ~~58,071~~64.4353 Amt Remaining in Prefunding Acct Group 2 21,409.00 Amt Withdrawn from Prefunding Acct Gr 2 0.00 Amt from Pref Acct to buy Sub Loans Gr2 ~~18,710,430~~0.00 Group 2 Senior Percentage 92.~~720415~~658300% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 7.~~279585~~341700% Group 2 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVEST TRUST 2003-AR2