8-K 1 sam02ar3_sep.txt SEPTEMBER 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): September 20, 2004 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-09 90-0072848 Pooling and Servicing Agreement) (Commission 90-0076014 (State or other File Number) IRS EIN 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 20, 2004 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2002-AR3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR3 Trust, relating to the September 20, 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. STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR3 Trust (Registrant) 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: 9/21/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR3 Trust, relating to the September 20, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates, Series 2002-AR3 Trust. Record Date: 38/31/042004 Distribution Date: 49/1920/042004 SAM Series: 2002-AR3 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-1 86358HNX3 SEN 1.~~42000~~93000% ~~450~~410,~~339~~910,~~606~~966.4672 ~~532~~660,~~901~~881.8781 6,~~886~~809,~~077~~418.4885 A-2 86358HNZ8 SEN 12.~~59000~~10000% 19,283,547.75 2533,~~550~~746.7021 0.00 R-I 86358HPA1 RES 3.~~48271~~48325% 0.00 0.00 0.00 R-II 86358HPB9 RES 3.~~48271~~48325% 0.00 0.00 0.00 B-1 86358HPE3 SUB 12.~~79000~~30000% 8,058,678.17 1215,~~020~~445.8680 0.00 B-2 86358HPF0 SUB 2.~~09000~~60000% 5,756,284.40 1012,~~025~~471.5395 0.00 B-3 86358HPG8 SUB 2.~~09000~~60000% 2,878,092.20 56,~~012~~235.6887 0.00 B-4 86358HPH6 SUB 23.~~84107~~15762% 1,726,895.32 4,~~088~~544.5206 0.00 B-5 86358HPJ2 SUB 23.~~84107~~15762% 1,151,296.88 23,~~725~~029.7646 0.00 B-6 86358HPK9 SUB 23.~~84107~~15762% 2,878,160.20 67,~~814~~573.2044 0.00 X 86358HNY1 SEN 1.~~39630~~20067% 0.00 ~~565~~447,~~868~~135.9110 0.00 Totals ~~492~~452,~~072~~643,~~561~~921.3864 1,~~165~~191,~~009~~063.0370 6,~~886~~809,~~077~~418.4885

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~443~~404,~~453~~101,~~528~~547.9887 7,~~418~~470,~~979~~300.3566 0.00 A-2 0.00 19,283,547.75 2533,~~550~~746.7021 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 B-1 0.00 8,058,678.17 1215,~~020~~445.8680 0.00 B-2 0.00 5,756,284.40 1012,~~025~~471.5395 0.00 B-3 0.00 2,878,092.20 56,~~012~~235.6887 0.00 B-4 0.00 1,726,895.32 4,~~088~~544.5206 0.00 B-5 0.00 1,151,296.88 23,~~725~~029.7646 0.00 B-6 0.00 2,878,160.20 67,~~814~~573.2044 0.00 X 0.00 0.00 ~~565~~447,~~868~~135.9110 0.00 Totals 0.00 ~~485~~445,~~186~~834,~~483~~502.9079 8,~~051~~000,~~086~~482.5155 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-1 533,894,100.00 ~~450~~410,~~339~~910,~~606~~966.4672 0.00 6,~~886~~809,~~077~~418.4885 0.00 0.00 A-2 19,283,600.00 19,283,547.75 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 B-1 8,058,700.00 8,058,678.17 0.00 0.00 0.00 0.00 B-2 5,756,300.00 5,756,284.40 0.00 0.00 0.00 0.00 B-3 2,878,100.00 2,878,092.20 0.00 0.00 0.00 0.00 B-4 1,726,900.00 1,726,895.32 0.00 0.00 0.00 0.00 B-5 1,151,300.00 1,151,296.88 0.00 0.00 0.00 0.00 B-6 2,878,168.00 2,878,160.20 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 575,627,268.00 ~~492~~452,~~072~~643,~~561~~921.3864 0.00 6,~~886~~809,~~077~~418.4885 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 6,~~886~~809,~~077~~418.4885 ~~443~~404,~~453~~101,~~528~~547.9887 0.~~83060204~~75689457 6,~~886~~809,~~077~~418.4885 A-2 0.00 19,283,547.75 0.99999729 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 B-1 0.00 8,058,678.17 0.99999729 0.00 B-2 0.00 5,756,284.40 0.99999729 0.00 B-3 0.00 2,878,092.20 0.99999729 0.00 B-4 0.00 1,726,895.32 0.99999729 0.00 B-5 0.00 1,151,296.88 0.99999729 0.00 B-6 0.00 2,878,160.20 0.99999729 0.00 X 0.00 0.00 0.00000000 0.00 Totals 6,~~886~~809,~~077~~418.4885 ~~485~~445,~~186~~834,~~483~~502.9079 0.~~84288308~~77451943 6,~~886~~809,~~077~~418.4885

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 533,894,100.00 ~~843~~769.~~49987471~~64882496 0.00000000 12.~~89783401~~75425005 0.00000000 A-2 19,283,600.00 999.99729044 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 B-1 8,058,700.00 999.99729113 0.00000000 0.00000000 0.00000000 B-2 5,756,300.00 999.99728993 0.00000000 0.00000000 0.00000000 B-3 2,878,100.00 999.99728988 0.00000000 0.00000000 0.00000000 B-4 1,726,900.00 999.99728994 0.00000000 0.00000000 0.00000000 B-5 1,151,300.00 999.99729002 0.00000000 0.00000000 0.00000000 B-6 2,878,168.00 999.99728994 0.00000000 0.00000000 0.00000000 X 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-1 0.00000000 12.~~89783401~~75425005 ~~830~~756.~~60204070~~89457492 0.~~83060204~~75689457 12.~~89783401~~75425005 A-2 0.00000000 0.00000000 999.99729044 0.99999729 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 B-1 0.00000000 0.00000000 999.99729113 0.99999729 0.00000000 B-2 0.00000000 0.00000000 999.99728993 0.99999729 0.00000000 B-3 0.00000000 0.00000000 999.99728988 0.99999729 0.00000000 B-4 0.00000000 0.00000000 999.99728994 0.99999729 0.00000000 B-5 0.00000000 0.00000000 999.99729002 0.99999729 0.00000000 B-6 0.00000000 0.00000000 999.99728994 0.99999729 0.00000000 X 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-1 533,894,100.00 1.~~42000~~93000% ~~450~~410,~~339~~910,~~606~~966.4672 ~~532~~660,~~901~~881.8780 0.00 0.00 A-2 19,283,600.00 12.~~59000~~10000% 19,283,547.75 2533,~~550~~746.7021 0.00 0.00 R-I 50.00 3.~~48271~~48325% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~48271~~48325% 0.00 0.00 0.00 0.00 B-1 8,058,700.00 12.~~79000~~30000% 8,058,678.17 1215,~~020~~445.8680 0.00 0.00 B-2 5,756,300.00 2.~~09000~~60000% 5,756,284.40 1012,~~025~~471.5395 0.00 0.00 B-3 2,878,100.00 2.~~09000~~60000% 2,878,092.20 56,~~012~~235.6887 0.00 0.00 B-4 1,726,900.00 23.~~84107~~15762% 1,726,895.32 4,~~088~~544.5206 0.00 0.00 B-5 1,151,300.00 23.~~84107~~15762% 1,151,296.88 23,~~725~~029.7646 0.00 0.00 B-6 2,878,168.00 23.~~84107~~15762% 2,878,160.20 67,~~814~~573.2044 0.00 0.00 X 0.00 1.~~39630~~20067% ~~486~~446,~~316~~887,~~208~~569.9925 ~~565~~447,~~868~~135.9110 0.00 0.00 Totals 575,627,268.00 1,~~165~~191,~~009~~063.0369 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 (0.0001) 0.00 ~~532~~660,~~901~~881.8781 0.00 ~~443~~404,~~453~~101,~~528~~547.9887 A-2 0.00 0.00 2533,~~550~~746.7021 0.00 19,283,547.75 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 B-1 0.00 0.00 1215,~~020~~445.8680 0.00 8,058,678.17 B-2 0.00 0.00 1012,~~025~~471.5395 0.00 5,756,284.40 B-3 0.00 0.00 56,~~012~~235.6887 0.00 2,878,092.20 B-4 0.00 0.00 4,~~088~~544.5206 0.00 1,726,895.32 B-5 0.00 0.00 23,~~725~~029.7646 0.00 1,151,296.88 B-6 0.00 0.00 67,~~814~~573.2044 0.00 2,878,160.20 X 0.00 0.00 ~~565~~447,~~868~~135.9110 0.00 ~~479~~440,~~430~~078,~~131~~150.5140 Totals (0.0001) 0.00 1,~~165~~191,~~009~~063.0370 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-1 533,894,100.00 1.~~42000~~93000% ~~843~~769.~~49987471~~64882496 01.~~99814152~~23785185 0.00000000 0.00000000 A-2 19,283,600.00 12.~~59000~~10000% 999.99729044 1.~~32499637~~74999533 0.00000000 0.00000000 R-I 50.00 3.~~48271~~48325% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~48271~~48325% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 8,058,700.00 12.~~79000~~30000% 999.99729113 1.~~49166243~~91666150 0.00000000 0.00000000 B-2 5,756,300.00 2.~~09000~~60000% 999.99728993 12.~~74166218~~16666088 0.00000000 0.00000000 B-3 2,878,100.00 2.~~09000~~60000% 999.99728988 12.~~74166290~~16666203 0.00000000 0.00000000 B-4 1,726,900.00 23.~~84107~~15762% 999.99728994 2.~~36754879~~63133939 0.00000000 0.00000000 B-5 1,151,300.00 23.~~84107~~15762% 999.99729002 2.~~36754973~~63133849 0.00000000 0.00000000 B-6 2,878,168.00 23.~~84107~~15762% 999.99728994 2.~~36754769~~63134049 0.00000000 0.00000000 X 0.00 1.~~39630~~20067% ~~853~~784.~~37976431~~19102935 0.~~99297755~~78462539 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~~00000002) 0.00000000 01.~~99814152~~23785187 0.00000000 ~~830~~756.~~60204070~~89457492 A-2 0.00000000 0.00000000 1.~~32499637~~74999533 0.00000000 999.99729044 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1.~~49166243~~91666150 0.00000000 999.99729113 B-2 0.00000000 0.00000000 12.~~74166218~~16666088 0.00000000 999.99728993 B-3 0.00000000 0.00000000 12.~~74166290~~16666203 0.00000000 999.99728988 B-4 0.00000000 0.00000000 2.~~36754879~~63133939 0.00000000 999.99728994 B-5 0.00000000 0.00000000 2.~~36754973~~63133849 0.00000000 999.99729002 B-6 0.00000000 0.00000000 2.~~36754769~~63134049 0.00000000 999.99728994 X 0.00000000 0.00000000 0.~~99297755~~78462539 0.00000000 ~~841~~772.~~29618768~~24197204 (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 8,~~219~~133,~~642~~987.2568 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1819,~~528~~968.8398 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 8,~~238~~153,~~171~~956.0866 Withdrawals Reimbursement for Servicer Advances 3312,~~311~~022.9089 Payment of Service Fee ~~153~~141,~~772~~451.6722 Payment of Interest and Principal 8,~~051~~000,~~086~~482.5155 Total Withdrawals (Pool Distribution Amount) 8,~~238~~153,~~171~~956.0866 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall (0.0001)

SERVICING FEES Gross Servicing Fee 8175,~~472~~188.0084 Additional Servicing Fee 7266,~~300~~262.6738 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~153~~141,~~772~~451.6722

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 1 0 0 1 ~~110~~188,~~950~~271.0030 0.00 0.00 ~~110~~188,~~950~~271.0030 30 Days 2017 0 0 0 2017 4,~~619~~327,~~314~~359.7399 0.00 0.00 0.00 4,~~619~~327,~~314~~359.7399 60 Days 3 1 0 0 40 ~~651~~1 351,~~012~~500.9900 ~~422,147~~0.9000 0.00 0.00 1351,~~073,160~~500.8900 90 Days 2 0 0 0 2 ~~436~~809,~~147~~455.5038 0.00 0.00 0.00 ~~436~~809,~~147~~455.5038 120 Days 10 0 1 0 21 ~~143,639~~0.1900 0.00 ~~706~~382,~~309~~100.1800 0.00 ~~849~~382,~~948~~100.3700 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 1 03 0 04 ~~1 237,200~~0.00 092,999.0034 0717,118.0055 0.00 ~~237~~810,~~200~~117.0089 Totals 2720 2 14 0 3026 65,~~087~~488,~~314~~315.4137 ~~533~~281,~~097~~270.9064 ~~706~~1,~~309~~099,218.1855 0.00 76,~~326~~868,~~721~~804.4956 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.~~057604~~062228% 0.000000% 0.000000% 0.~~057604~~062228% 0.~~022868~~042229% 0.000000% 0.000000% 0.~~022868~~042229% 30 Days 1.~~152074~~057872% 0.000000% 0.000000% 0.000000% 1.~~152074~~057872% 0.~~952072~~970620% 0.000000% 0.000000% 0.000000% 0.~~952072~~970620% 60 Days 0.~~172811~~062228% 0.~~057604~~000000% 0.000000% 0.000000% 0.~~230415~~062228% 0.~~134178~~078841% 0.~~087008~~000000% 0.000000% 0.000000% 0.~~221186~~078841% 90 Days 0.~~115207~~124456% 0.000000% 0.000000% 0.000000% 0.~~115207~~124456% 0.~~089893~~181560% 0.000000% 0.000000% 0.000000% 0.~~089893~~181560% 120 Days 0.~~057604~~000000% 0.000000% 0.~~057604~~062228% 0.000000% 0.~~115207~~062228% 0.~~029605~~000000% 0.000000% 0.~~145575~~085704% 0.000000% 0.~~175180~~085704% 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.~~057604~~000000% 0.~~000000~~062228% 0.~~000000~~186683% 0.000000% 0.~~057604~~248911% 0.~~048889~~000000% 0.~~000000~~020860% 0.~~000000~~160849% 0.000000% 0.~~048889~~181708% Totals 1.~~555300~~244555% 0.~~115207~~124456% 0.~~057604~~248911% 0.000000% 1.~~728111~~617922% 1.~~254636~~231020% 0.~~109875~~063089% 0.~~145575~~246553% 0.000000% 1.~~510087~~540662%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1819,~~528~~968.8398

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~216066~~532618% Weighted Average Net Coupon 3.~~017384~~333285% Weighted Average Pass-Through Rate 23.~~841066~~157618% Weighted Average Maturity(Stepdown Calculation ) ~~284~~279 Beginning Scheduled Collateral Loan Count 1,~~754~~633 Number Of Loans Paid In Full 1826 Ending Scheduled Collateral Loan Count 1,~~736~~607 Beginning Scheduled Collateral Balance ~~492~~452,~~072~~643,~~562~~922.0127 Ending Scheduled Collateral Balance ~~485~~445,~~186~~834,~~484~~503.5342 Ending Actual Collateral Balance at 31-~~Mar~~Aug-2004 ~~485~~445,~~185~~834,~~519~~653.6762 Monthly P &I Constant 1,~~318~~332,~~781~~514.7192 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 ~~485~~445,~~186~~834,~~484~~503.5342 Scheduled Principal 0.00 Unscheduled Principal 6,~~886~~809,~~077~~418.4885

Miscellaneous Reporting Senior Percentage 9190.~~518943~~780180% Senior Prep Percentage 100.000000% Subordinate Percentage 89.~~481057~~219820% Subordinate Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORT INV INC MORT PASS THR CERT 2002-AR3