8-K 1 ahm03001.txt MARCH 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): March 25, 2004 AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-13 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank, 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 March 25, 2004 a distribution was made to holders of AMERICAN HOME MORTGAGE INVESTMENT TRUST, Mortgage-Backed Notes, Series 2003-1 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-Backed Notes, Series 2003-1 Trust, relating to the March 25, 2004 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. AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2003-1 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 3/31/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage- Backed Notes, Series 2003-1 Trust, relating to the March 25, 2004 distribution. EX-99.1

AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes Record Date: 122/3129/032004 Distribution Date: 13/2625/042004 AHM Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 02660TAA1 SEN 1.~~53375~~49000% ~~197~~194,~~860~~972,~~600~~810.0082 ~~219~~234,~~171~~021.8454 03,252,399.0030 M-1 02660TAB9 MEZ 1.~~83375~~79000% 11,~~321~~156,~~700~~459.00 1416,~~994~~086.1899 0186,104.0020 M-2 02660TAC7 MEZ 2.~~53375~~49000% 6,~~469~~375,~~500~~077.0020 1112,~~838~~787.7434 0106,344.0055 OT AHM0301OT OT 0.00000% 0.00 ~~291,899~~0.9000 0.00 Totals ~~215~~212,~~651~~504,~~800~~347.0002 ~~537~~262,~~904~~895.6687 03,544,848.0005

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~197~~191,~~860~~720,~~600~~411.0053 ~~219~~3,~~171~~486,420.84 0.00 M-1 0.00 1110,~~321~~970,~~700~~354.0080 14202,~~994~~191.1819 0.00 M-2 0.00 6,~~469~~268,~~500~~732.0065 11119,~~838~~131.7489 0.00 OT 0.00 0.00 ~~291,899~~0.9000 0.00 Totals 0.00 ~~215~~208,~~651~~959,~~800~~498.0098 ~~537~~3,~~904~~807,743.6692 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 197,860,600.00 ~~197~~194,~~860~~972,~~600~~810.0082 0.00 03,252,399.0030 0.00 0.00 M-1 11,321,700.00 11,~~321~~156,~~700~~459.00 0.00 0186,104.0020 0.00 0.00 M-2 6,469,500.00 6,~~469~~375,~~500~~077.0020 0.00 0106,344.0055 0.00 0.00 OT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~215~~212,~~651~~504,~~800~~347.0002 0.00 03,544,848.0005 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 03,252,399.0030 ~~197~~191,~~860~~720,~~600~~411.0053 10.~~00000000~~96896710 03,252,399.0030 M-1 0186,104.0020 1110,~~321~~970,~~700~~354.0080 10.~~00000000~~96896710 0186,104.0020 M-2 0106,344.0055 6,~~469~~268,~~500~~732.0065 10.~~00000000~~96896710 0106,344.0055 OT 0.00 0.00 0.00000000 0.00 Totals 03,544,848.0005 ~~215~~208,~~651~~959,~~800~~498.0098 10.~~00000000~~96896710 03,544,848.0005

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 197,860,600.00 ~~1000~~985.~~00000000~~40493064 0.00000000 016.~~00000000~~43783199 0.00000000 M-1 11,321,700.00 ~~1000~~985.~~00000000~~40493035 0.00000000 016.~~00000000~~43783177 0.00000000 M-2 6,469,500.00 ~~1000~~985.~~00000000~~40493083 0.00000000 016.~~00000000~~43783136 0.00000000 OT 0.00 0.00000000 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 0.00000000 016.~~00000000~~43783199 ~~1,000~~968.~~00000000~~96709870 10.~~00000000~~96896710 016.~~00000000~~43783199 M-1 0.00000000 016.~~00000000~~43783177 ~~1,000~~968.~~00000000~~96709858 10.~~00000000~~96896710 016.~~00000000~~43783177 M-2 0.00000000 016.~~00000000~~43783136 ~~1,000~~968.~~00000000~~96709947 10.~~00000000~~96896710 016.~~00000000~~43783136 OT 0.00000000 0.00000000 0.00000000 0.00000000 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 197,860,600.00 1.~~53375~~49000% ~~197~~194,~~860~~972,~~600~~810.0082 ~~219~~234,~~171~~021.8453 0.00 0.00 M-1 11,321,700.00 1.~~83375~~79000% 11,~~321~~156,~~700~~459.00 1416,~~994~~086.1899 0.00 0.00 M-2 6,469,500.00 2.~~53375~~49000% 6,~~469~~375,~~500~~077.0020 1112,~~838~~787.7434 0.00 0.00 OT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~246~~262,~~004~~895.7686 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 0.00 0.00 ~~219~~234,~~171~~021.8454 0.00 ~~197~~191,~~860~~720,~~600~~411.0053 M-1 0.00 0.00 1416,~~994~~086.1899 0.00 1110,~~321~~970,~~700~~354.0080 M-2 0.00 0.00 1112,~~838~~787.7434 0.00 6,~~469~~268,~~500~~732.0065 OT 0.00 0.00 ~~291,899~~0.9000 0.00 0.00 Totals 0.00 0.00 ~~537~~262,~~904~~895.6687 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 197,860,600.00 1.~~53375~~49000% ~~1000~~985.~~00000000~~40493064 1.~~10770836~~18275963 0.00000000 0.00000000 M-1 11,321,700.00 1.~~83375~~79000% ~~1000~~985.~~00000000~~40493035 1.~~32437531~~42089880 0.00000000 0.00000000 M-2 6,469,500.00 2.~~53375~~49000% ~~1000~~985.~~00000000~~40493083 1.~~82993122~~97655769 0.00000000 0.00000000 OT 0.00 0.00000% 0.00000000 0.00000000 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 0.00000000 0.00000000 1.~~10770836~~18275968 0.00000000 ~~1000~~968.~~00000000~~96709870 M-1 0.00000000 0.00000000 1.~~32437531~~42089880 0.00000000 ~~1000~~968.~~00000000~~96709858 M-2 0.00000000 0.00000000 1.~~82993122~~97655769 0.00000000 ~~1000~~968.~~00000000~~96709947 OT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 ~~605~~3,~~953~~879,383.5661 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0728.0025 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits ~~605~~3,~~953~~880,111.5686 Withdrawals Reimbursement for Servicer Advances 03,219.0046 Payment of Service Fee 6869,~~048~~148.9048 Payment of Interest and Principal ~~537~~3,~~904~~807,743.6692 Total Withdrawals (Pool Distribution Amount) ~~605~~3,~~953~~880,111.5686 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6566,~~353~~488.2692 Indenture Trustee Fee ~~898~~886.5552 Master Servicing Fee 1,~~797~~773.0904 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6869,~~048~~148.9048

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 02 0 0 0 02 0279,650.00 0.00 0.00 0.00 0279,650.00 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 02 0 0 0 02 0279,650.00 0.00 0.00 0.00 0279,650.00 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 0.~~000000~~353982% 0.000000% 0.000000% 0.000000% 0.~~000000~~353982% 0.~~000000~~133484% 0.000000% 0.000000% 0.000000% 0.~~000000~~133484% 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 0.~~000000~~353982% 0.000000% 0.000000% 0.000000% 0.~~000000~~353982% 0.~~000000~~133484% 0.000000% 0.000000% 0.000000% 0.~~000000~~133484%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0728.0025

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~295446~~453891% Weighted Average Net Coupon 23.~~931787~~078891% Weighted Average Pass-Through Rate 23.~~916787~~063891% Weighted Average Maturity (Stepdown Calculation ) ~~354~~352 Beginning Scheduled Collateral Loan Count ~~581~~572 Number Of Loans Paid In Full 07 Ending Scheduled Collateral Loan Count ~~581~~565 Beginning Scheduled Collateral Balance ~~215~~212,~~651~~764,~~899~~538.0565 Ending Scheduled Collateral Balance ~~215~~209,~~651~~500,~~899~~034.0027 Ending Actual Collateral Balance at 3129-~~Dec~~Feb-~~2003~~2004 ~~215~~209,~~651~~500,~~899~~034.0027 Monthly P &I Constant ~~592~~612,~~224~~388.3901 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 ~~215~~209,~~651~~500,~~899~~034.27 Scheduled Principal 0.00 Unscheduled Principal 3,264,504.38 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 01,078,259.0050 Overcollateralized Amount 99540,535.0029 Overcollateralized Deficiency Amount 0537,724.0020 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0280,343.0067 Excess Cash Amount ~~291,899~~0.9000

Filing Compare · SAMI II AMERICAN HOME MTG BACK NTS SER 2003-1