8-K 1 sam03ar2.txt NOVEMBER 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): November 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 November 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 November 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 as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 11/20/03 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 November 19, 2003 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 910/3031/03 Distribution Date: 1011/2019/03 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 1.49000% ~~368~~365,~~658~~815,~~621~~796.7538 ~~457~~454,~~751~~221.1228 23,~~842~~339,~~825~~016.3773 A-2 86358HTZ2 SEN 3.~~04515~~03367% 9189,~~500~~506,~~977~~689.1685 ~~232~~226,~~194~~278.9745 1446,~~994,287~~592.3157 X 86358HUA5 SEN 1.~~40968~~39874% 0.00 ~~468~~461,~~621~~672.3784 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 1.87000% 15,000,000.00 23,375.00 0.00 B-1 86358HUC1 SUB 2.12000% 6,500,000.00 11,483.33 0.00 B-2 86358HUD9 SUB 2.12000% 4,750,000.00 8,391.67 0.00 B-3 86358HUE7 SUB 2.12000% 4,000,000.00 7,066.67 0.00 B-4 86358HUJ6 SUB 2.~~95815~~94733% 1,750,000.00 4,~~313~~298.9719 0.00 B-5 86358HUL1 SUB 2.~~95815~~94733% 1,250,000.00 3,~~081~~070.4114 0.00 B-6 86358HUN7 SUB 2.~~95815~~94733% 3,000,000.00 7,~~395~~368.3733 0.00 Totals ~~496~~491,~~409~~572,~~598~~486.9123 1,~~223~~207,~~674~~225.8890 43,~~837~~785,~~112~~609.6830

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~365~~362,~~815~~476,~~796~~779.3865 3,~~300~~793,~~576~~238.4901 0.00 A-2 0.00 89,~~506~~060,~~689~~097.8528 2672,~~226,482~~871.2802 0.00 X 0.00 0.00 ~~468~~461,~~621~~672.3784 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 23,375.00 0.00 B-1 0.00 6,500,000.00 11,483.33 0.00 B-2 0.00 4,750,000.00 8,391.67 0.00 B-3 0.00 4,000,000.00 7,066.67 0.00 B-4 0.00 1,750,000.00 4,~~313~~298.9719 0.00 B-5 0.00 1,250,000.00 3,~~081~~070.4114 0.00 B-6 0.00 3,000,000.00 7,~~395~~368.3733 0.00 Totals 0.00 ~~491~~487,~~572~~786,~~486~~876.2393 64,~~060~~992,~~787~~835.5620 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 ~~368~~365,~~658~~815,~~621~~796.7538 0.00 23,~~842~~339,~~825~~016.3773 0.00 0.00 A-2 92,750,000.00 9189,~~500~~506,~~977~~689.1685 0.00 1446,~~994,287~~592.3157 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 ~~496~~491,~~409~~572,~~598~~486.9123 0.00 43,~~837~~785,~~112~~609.6830 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 23,~~842~~339,~~825~~016.3773 ~~365~~362,~~815~~476,~~796~~779.3865 0.~~98602641~~97702636 23,~~842~~339,~~825~~016.3773 A-2 1446,~~994,287~~592.3157 89,~~506~~060,~~689~~097.8528 0.~~96503170~~96021668 1446,~~994,287~~592.3157 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 43,~~837~~785,~~112~~609.6830 ~~491~~487,~~572~~786,~~486~~876.2393 0.~~98314468~~97557346 43,~~837~~785,~~112~~609.6830

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 ~~993~~986.~~68900741~~02640534 0.00000000 79.~~66260208~~00004509 0.00000000 A-2 92,750,000.00 ~~986~~965.~~53344647~~03169650 0.00000000 214.~~50174997~~81501423 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 79.~~66260208~~00004509 ~~986~~977.~~02640534~~02636024 0.~~98602641~~97702636 79.~~66260208~~00004509 A-2 0.00000000 214.~~50174997~~81501423 ~~965~~960.~~03169650~~21668226 0.~~96503170~~96021668 214.~~50174997~~81501423 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, 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 1.49000% ~~368~~365,~~658~~815,~~621~~796.7538 ~~457~~454,~~751~~221.1228 0.00 0.00 A-2 92,750,000.00 3.~~04515~~03367% 9189,~~500~~506,~~977~~689.1685 ~~232~~226,~~194~~278.9745 0.00 0.00 X 0.00 1.~~40968~~39874% ~~398~~396,~~908~~065,~~621~~796.7538 ~~468~~461,~~610~~662.0636 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 1.87000% 15,000,000.00 23,375.00 0.00 0.00 B-1 6,500,000.00 2.12000% 6,500,000.00 11,483.33 0.00 0.00 B-2 4,750,000.00 2.12000% 4,750,000.00 8,391.67 0.00 0.00 B-3 4,000,000.00 2.12000% 4,000,000.00 7,066.67 0.00 0.00 B-4 1,750,000.00 2.~~95815~~94733% 1,750,000.00 4,~~313~~298.9719 0.00 0.00 B-5 1,250,000.00 2.~~95815~~94733% 1,250,000.00 3,~~081~~070.4114 0.00 0.00 B-6 3,000,000.00 2.~~95815~~94733% 3,000,000.00 7,~~395~~368.3733 0.00 0.00 Totals 500,000,150.00 1,~~223~~207,~~663~~215.5742 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~~454,~~751~~221.1228 0.00 ~~365~~362,~~815~~476,~~796~~779.3865 A-2 0.00 0.00 ~~232~~226,~~194~~278.9745 0.00 89,~~506~~060,~~689~~097.8528 X 0.00 0.00 ~~468~~461,~~621~~672.3784 0.00 ~~396~~392,~~065~~726,~~796~~779.3865 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 23,375.00 0.00 15,000,000.00 B-1 0.00 0.00 11,483.33 0.00 6,500,000.00 B-2 0.00 0.00 8,391.67 0.00 4,750,000.00 B-3 0.00 0.00 7,066.67 0.00 4,000,000.00 B-4 0.00 0.00 4,~~313~~298.9719 0.00 1,750,000.00 B-5 0.00 0.00 3,~~081~~070.4114 0.00 1,250,000.00 B-6 0.00 0.00 7,~~395~~368.3733 0.00 3,000,000.00 Totals 0.00 0.00 1,~~223~~207,~~674~~225.8890 0.00 (4) Amount Does Not Include Excess Special Hazard, 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 1.49000% ~~993~~986.~~68900741~~02640534 1.~~23383051~~22431612 0.00000000 0.00000000 A-2 92,750,000.00 3.~~04515~~03367% ~~986~~965.~~53344647~~03169650 2.~~50344981~~43965984 0.00000000 0.00000000 X 0.00 1.~~40968~~39874% ~~994~~987.~~16478941~~07986637 1.~~16787554~~15056040 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 1.87000% 1000.00000000 1.55833333 0.00000000 0.00000000 B-1 6,500,000.00 2.12000% 1000.00000000 1.76666615 0.00000000 0.00000000 B-2 4,750,000.00 2.12000% 1000.00000000 1.76666737 0.00000000 0.00000000 B-3 4,000,000.00 2.12000% 1000.00000000 1.76666750 0.00000000 0.00000000 B-4 1,750,000.00 2.~~95815~~94733% 1000.00000000 2.~~46512571~~45610857 0.00000000 0.00000000 B-5 1,250,000.00 2.~~95815~~94733% 1000.00000000 2.~~46512800~~45611200 0.00000000 0.00000000 B-6 3,000,000.00 2.~~95815~~94733% 1000.00000000 2.~~46512333~~45611000 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.~~23383051~~22431612 0.00000000 ~~986~~977.~~02640534~~02636024 A-2 0.00000000 0.00000000 2.~~50344981~~43965984 0.00000000 ~~965~~960.~~03169650~~21668226 X 0.00000000 0.00000000 1.~~16790373~~15058652 0.00000000 ~~987~~978.~~07986637~~75832935 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 1.55833333 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 1.76666615 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 1.76666737 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 1.76666750 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 2.~~46512571~~45610857 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 2.~~46512800~~45611200 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 2.~~46512333~~45611000 0.00000000 1000.00000000 (6) Amount Does Not Include Excess Special Hazard, 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 65,~~249~~181,~~075~~938.0752 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3612,~~035~~856.0289 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 65,~~285~~194,~~110~~795.0941 Withdrawals Reimbursement for Servicer Advances 5736,~~013~~035.4502 Payment of Service Fee ~~167~~165,~~309~~925.0819 Payment of Interest and Principal 64,~~060~~992,~~787~~835.5620 Total Withdrawals (Pool Distribution Amount) 65,~~285~~194,~~110~~795.0941 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 4342,~~227~~777.3074 Additional Servicing Fee ~~123~~122,~~047~~123.7246 Master Servicing Fee 1,~~034~~023.0699 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~167~~165,~~309~~925.0819

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 3918 0 0 0 3918 124,~~164~~782,~~589~~829.1518 0.00 0.00 0.00 124,~~164~~782,~~589~~829.1518 60 Days 20 0 0 0 20 ~~1,181,900~~0.00 0.00 0.00 0.00 ~~1,181,900~~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 4118 0 0 0 4118 134,~~346~~782,~~489~~829.1518 0.00 0.00 0.00 134,~~346~~782,~~489~~829.1518 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 21.~~448211~~139241% 0.000000% 0.000000% 0.000000% 21.~~448211~~139241% 20.~~474910~~980489% 0.000000% 0.000000% 0.000000% 20.~~474910~~980489% 60 Days 0.~~125549~~000000% 0.000000% 0.000000% 0.000000% 0.~~125549~~000000% 0.~~240460~~000000% 0.000000% 0.000000% 0.000000% 0.~~240460~~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 21.~~573760~~139241% 0.000000% 0.000000% 0.000000% 21.~~573760~~139241% 20.~~715370~~980489% 0.000000% 0.000000% 0.000000% 20.~~715370~~980489%

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 3113 0 0 0 3113 104,~~173~~143,~~214~~329.0018 0.00 0.00 0.00 104,~~173~~143,~~214~~329.0018 60 Days 10 0 0 0 10 ~~950,000~~0.00 0.00 0.00 0.00 ~~950,000~~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 3213 0 0 0 3213 114,~~123~~143,~~214~~329.0018 0.00 0.00 0.00 114,~~123~~143,~~214~~329.0018 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~450593~~036683% 0.000000% 0.000000% 0.000000% 21.~~450593~~036683% 21.~~576951~~058358% 0.000000% 0.000000% 0.000000% 21.~~576951~~058358% 60 Days 0.~~079051~~000000% 0.000000% 0.000000% 0.000000% 0.~~079051~~000000% 0.~~240642~~000000% 0.000000% 0.000000% 0.000000% 0.~~240642~~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 21.~~529644~~036683% 0.000000% 0.000000% 0.000000% 21.~~529644~~036683% 21.~~817593~~058358% 0.000000% 0.000000% 0.000000% 21.~~817593~~058358% 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 85 0 0 0 85 1639,~~991,375~~500.1500 0.00 0.00 0.00 1639,~~991,375~~500.1500 60 Days 10 0 0 0 10 ~~231,900~~0.00 0.00 0.00 0.00 ~~231,900~~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 95 0 0 0 95 2639,~~223,275~~500.1500 0.00 0.00 0.00 2639,~~223,275~~500.1500 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~439024~~533742% 0.000000% 0.000000% 0.000000% 21.~~439024~~533742% 20.~~058498~~663975% 0.000000% 0.000000% 0.000000% 20.~~058498~~663975% 60 Days 0.~~304878~~000000% 0.000000% 0.000000% 0.000000% 0.~~304878~~000000% 0.~~239717~~000000% 0.000000% 0.000000% 0.000000% 0.~~239717~~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 21.~~743902~~533742% 0.000000% 0.000000% 0.000000% 21.~~743902~~533742% 20.~~298214~~663975% 0.000000% 0.000000% 0.000000% 20.~~298214~~663975%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 3612,~~035~~856.0289

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~362480~~352036% Weighted Average Net Coupon 3.~~257984~~247609% Weighted Average Pass-Through Rate 2.~~958034~~946989% Weighted Average Maturity(Stepdown Calculation ) ~~316~~315 Beginning Scheduled Collateral Loan Count 1,~~599~~593 Number Of Loans Paid In Full 613 Ending Scheduled Collateral Loan Count 1,~~593~~580 Beginning Scheduled Collateral Balance ~~496~~491,~~409~~572,~~599~~486.6294 Ending Scheduled Collateral Balance ~~491~~487,~~572~~786,~~486~~877.9464 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2003 ~~491~~487,~~516~~800,~~387~~498.3283 Monthly P &I Constant 1,~~398~~378,~~475~~429.8019 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 ~~491~~487,~~572~~786,~~486~~877.9464 Scheduled Principal 0.00 Unscheduled Principal 43,~~837~~785,~~112~~609.6830

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~333825~~323301 3.~~477870~~469289 3.~~362480~~352036 Weighted Average Net Rate 3.~~233578~~222741 3.~~356265~~349083 3.~~257984~~247609 Weighted Average Maturity ~~313~~312 ~~327~~326 ~~316~~315 Beginning Loan Count 1,~~267~~265 ~~332~~328 1,~~599~~593 Loans Paid In Full 11 2 413 6 Ending Loan Count 1,~~265~~254 ~~328~~326 1,~~593~~580 Beginning Scheduled Balance ~~397~~394,~~658~~815,~~622~~796.0669 9896,~~750~~756,~~977~~690.5625 ~~496~~491,~~409~~572,~~599~~486.6294 Ending scheduled Balance ~~394~~391,~~815~~476,~~796~~779.6996 96,~~756~~310,~~690~~097.2568 ~~491~~487,~~572~~786,~~486~~877.9464 Record Date 0910/3031/2003 0910/3031/2003 0910/3031/2003 Principal And Interest Constant 1,~~105~~093,~~078~~460.2155 ~~293~~284,~~397~~968.5964 1,~~398~~378,~~475~~429.8019 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 23,~~842~~339,~~825~~016.3773 1446,~~994,287~~592.3157 43,~~837~~785,~~112~~609.6830 Scheduled Interest 1,~~104~~093,~~770~~409.1183 ~~286~~279,~~202~~730.5477 1,~~390~~373,~~972~~140.6560 Servicing Fees 33,~~220~~085.1146 109,~~007~~692.1928 4342,~~227~~777.3074 Master Servicing Fees ~~828~~822.3745 ~~205~~201.6954 1,~~034~~023.0699 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 9796,~~650~~893.7840 25,~~396~~230.9406 ~~123~~122,~~047~~123.7246 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 ~~973~~962,~~070~~608.8552 ~~250~~244,~~592~~606.7289 1,~~223~~207,~~663~~215.5741 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~936401~~925745 3.~~045147~~033674 2.~~958034~~946989

Miscellaneous Reporting Group Group 1 Amt Remaining in Int Coverage Acct Gr 1 13,~~714~~619.7517 Amt Withdrawn from Int Coverage Acct Gr1 ~~111~~110.5874 Amt Remaining in Prefunding Acct Group 1 ~~38,937~~0.0100 Amt Withdrawn from Prefunding Acct Gr 1 038,937.0001 Amt from Pref Acct to buy Sub Loans Gr1 0.00 Group 1 Senior Percentage 92.~~707313~~654802% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 7.~~292687~~345198% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Amt Remaining in Int Coverage Acct Gr 2 9,~~591~~538.7326 Amt Withdrawn from Int Coverage Acct Gr2 64.5306 Amt Remaining in Prefunding Acct Group 2 ~~21,409~~0.00 Amt Withdrawn from Prefunding Acct Gr 2 021,409.00 Amt from Pref Acct to buy Sub Loans Gr2 0.00 Group 2 Senior Percentage 92.~~658300~~506978% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 7.~~341700~~493022% Group 2 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVEST TRUST 2003-AR2