8-K 1 sam04ar1_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 II INC. Mortgage Pass-Through Certificates, Series 2004-AR1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-16 54-2144786 Pooling and Servicing Agreement) (Commission 54-2144787 (State or other File Number) 54-2144788 jurisdiction IRS EIN 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 II INC., Mortgage Pass-Through Certificates, Series 2004-AR1 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 2004-AR1 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 II INC. Mortgage Pass-Through Certificates, Series 2004-AR1 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: 9/22/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-AR1 Trust, relating to the September 20, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 38/31/042004 Distribution Date: 49/1920/042004 SAM Series: 2004-AR1 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 I-A-1 86359LAP4 SEN 1.~~44000~~95000% ~~500~~474,~~080~~441,~~580~~768.2838 ~~600~~770,~~096~~967.7088 59,~~438~~415,~~938~~882.8135 I-A-2 86359LAQ2 SEN 1.~~44000~~95000% 9893,~~702~~439,~~920~~063.9378 ~~118~~151,~~443~~838.5148 1,~~116~~933,~~658~~157.4943 I-A-3 86359LAR0 SEN 1.~~44000~~95000% 3,967,700.00 46,~~761~~447.2451 0.00 II-A-1 86359LAS8 SEN 3.~~28583~~37317% 9186,~~713~~563,~~027~~268.1080 ~~251~~243,~~127~~327.6900 60841,~~975~~085.1930 X 86359LAT6 SEN 1.~~47187~~19390% 0.00 ~~809~~625,~~207~~158.8714 0.00 R-I 86359LAU3 RES 0.00000% 0.00 0.00 0.00 R-II 86359LAV1 RES 0.00000% 0.00 0.00 0.00 R-III 86359LAW9 RES 0.00000% 0.00 0.00 0.00 M 86359LAX7 SUB 12.~~54000~~05000% 31,361,~~500~~171.0095 4053,~~247~~575.2634 5969.4395 B-1 86359LAY5 SUB 12.~~69000~~20000% 11,473,~~600~~479.0098 1621,~~158~~034.6571 2125.7459 B-2 86359LAZ2 SUB 2.~~29000~~80000% 8,~~414~~413,~~000~~911.0099 1619,~~056~~632.7246 1518.9477 B-3 86359LBA6 SUB 23.~~79000~~30000% 5,736,~~900~~839.0099 1315,~~338~~776.2931 1012.8780 B-4 86359LBB4 SUB 23.~~98542~~20021% 2,677,~~200~~172.00 67,~~660~~139.4760 5.0797 B-5 86359LBC2 SUB 23.~~98542~~20021% 2,294,~~700~~676.00 56,~~708~~119.8754 45.3512 B-6 86359LBD0 SUB 23.~~98542~~20021% 4,~~972~~971,~~043~~990.0099 1213,~~369~~259.6952 911.4209 Totals ~~761~~725,~~394~~341,~~171~~043.3186 1,~~894~~934,~~176~~276.9649 612,~~616~~190,~~699~~274.3137

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~494~~465,~~641~~025,~~641~~886.4702 610,~~039~~186,~~035~~850.5123 0.00 I-A-2 0.00 9791,~~586~~505,~~262~~906.4536 12,~~235~~084,~~102~~995.0091 0.00 I-A-3 0.00 3,967,700.00 46,~~761~~447.2451 0.00 II-A-1 0.00 9185,~~652~~722,~~051~~183.9151 ~~312~~1,~~102~~084,412.8830 0.00 X 0.00 0.00 ~~809~~625,~~207~~158.8714 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 31,361,~~440~~102.5700 4053,~~306~~645.6929 0.00 B-1 0.00 11,473,~~578~~454.2639 1621,~~180~~060.3930 0.00 B-2 0.00 8,413,~~984~~893.0622 1619,~~072~~651.6623 0.00 B-3 0.00 5,736,~~889~~827.1319 1315,~~349~~789.1611 0.00 B-4 0.00 2,677,~~194~~166.9302 67,~~665~~145.5457 0.00 B-5 0.00 2,294,~~695~~670.6588 56,~~713~~124.2266 0.00 B-6 0.00 4,~~972~~971,~~033~~979.5890 1213,~~379~~270.1161 0.00 Totals 0.00 ~~754~~713,~~777~~150,~~472~~769.0149 814,~~510~~124,~~876~~550.2786 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) I-A-1 502,449,600.00 ~~500~~474,~~080~~441,~~580~~768.2838 0.00 59,~~438~~415,~~938~~882.8135 0.00 0.00 I-A-2 99,189,300.00 9893,~~702~~439,~~920~~063.9378 0.00 1,~~116~~933,~~658~~157.4943 0.00 0.00 I-A-3 3,967,700.00 3,967,700.00 0.00 0.00 0.00 0.00 II-A-1 92,375,500.00 9186,~~713~~563,~~027~~268.1080 1,~~313~~458.0897 59839,~~662~~626.1133 0.00 0.00 X 0.00 0.00 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 R-III 50.00 0.00 0.00 0.00 0.00 0.00 M 31,361,500.00 31,361,~~500~~171.0095 5969.4395 0.00 0.00 0.00 B-1 11,473,600.00 11,473,~~600~~479.0098 2125.7459 0.00 0.00 0.00 B-2 8,414,000.00 8,~~414~~413,~~000~~911.0099 1518.9477 0.00 0.00 0.00 B-3 5,736,900.00 5,736,~~900~~839.0099 1012.8780 0.00 0.00 0.00 B-4 2,677,200.00 2,677,~~200~~172.00 5.0797 0.00 0.00 0.00 B-5 2,294,700.00 2,294,~~700~~676.00 45.3512 0.00 0.00 0.00 B-6 4,972,043.00 4,~~972~~971,~~043~~990.0099 911.4209 0.00 0.00 0.00 Totals 764,912,193.00 ~~761~~725,~~394~~341,~~171~~043.3186 1,~~439~~608.9026 612,~~615~~188,~~259~~666.4111 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 I-A-1 59,~~438~~415,~~938~~882.8135 ~~494~~465,~~641~~025,~~641~~886.4702 0.~~98446022~~92551748 59,~~438~~415,~~938~~882.8135 I-A-2 1,~~116~~933,~~658~~157.4943 9791,~~586~~505,~~262~~906.4536 0.~~98383860~~92253808 1,~~116~~933,~~658~~157.4943 I-A-3 0.00 3,967,700.00 1.00000000 0.00 II-A-1 60841,~~975~~085.1930 9185,~~652~~722,~~051~~183.9151 0.~~99216840~~92797531 60841,~~975~~085.1930 X 0.00 0.00 0.00000000 0.00 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 5969.4395 31,361,~~440~~102.5700 0.~~99999811~~99998731 5969.4395 B-1 2125.7459 11,473,~~578~~454.2639 0.~~99999811~~99998731 2125.7459 B-2 1518.9477 8,413,~~984~~893.0622 0.~~99999811~~99998731 1518.9477 B-3 1012.8780 5,736,~~889~~827.1319 0.~~99999811~~99998731 1012.8780 B-4 5.0797 2,677,~~194~~166.9302 0.~~99999811~~99998731 5.0797 B-5 45.3512 2,294,~~695~~670.6588 0.~~99999810~~99998731 45.3512 B-6 911.4209 4,~~972~~971,~~033~~979.5890 0.~~99999811~~99998731 911.4209 Totals 612,~~616~~190,~~699~~274.3137 ~~754~~713,~~777~~150,~~472~~769.0149 0.~~98675048~~93233024 612,~~616~~190,~~699~~274.3137

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 502,449,600.00 ~~995~~944.~~28505999~~25743076 0.00000000 1018.~~82484454~~73995392 0.00000000 I-A-2 99,189,300.00 ~~995~~942.~~09645627~~02765601 0.00000000 1119.~~25785231~~48957630 0.00000000 I-A-3 3,967,700.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-1 92,375,500.00 ~~992~~937.~~82847833~~08038170 0.~~01421459~~01579391 09.~~64586508~~08927508 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 31,361,500.00 ~~1000~~999.~~00000000~~98953972 0.~~00189500~~00223044 0.00000000 0.00000000 B-1 11,473,600.00 ~~1000~~999.~~00000000~~98953946 0.~~00189478~~00223034 0.00000000 0.00000000 B-2 8,414,000.00 ~~1000~~999.~~00000000~~98954005 0.~~00189446~~00223081 0.00000000 0.00000000 B-3 5,736,900.00 ~~1000~~999.~~00000000~~98953965 0.~~00189475~~00223117 0.00000000 0.00000000 B-4 2,677,200.00 ~~1000~~999.~~00000000~~98954131 0.~~00189377~~00222994 0.00000000 0.00000000 B-5 2,294,700.00 ~~1000~~999.~~00000000~~98954112 0.~~00189567~~00223123 0.00000000 0.00000000 B-6 4,972,043.00 ~~1000~~999.~~00000000~~98953951 0.~~00189459~~00223047 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 1018.~~82484454~~73995392 ~~984~~925.~~46021545~~51747682 0.~~98446022~~92551748 1018.~~82484454~~73995392 I-A-2 0.00000000 1119.~~25785231~~48957630 ~~983~~922.~~83860406~~53807981 0.~~98383860~~92253808 1119.~~25785231~~48957630 I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-1 0.00000000 09.~~66007967~~10506898 ~~992~~927.~~16839866~~97531283 0.~~99216840~~92797531 09.~~66007967~~10506898 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.~~00189500~~00223044 999.~~99810500~~98730928 0.~~99999811~~99998731 0.~~00189500~~00223044 B-1 0.00000000 0.~~00189478~~00223034 999.~~99810522~~98730913 0.~~99999811~~99998731 0.~~00189478~~00223034 B-2 0.00000000 0.~~00189446~~00223081 999.~~99810554~~98730925 0.~~99999811~~99998731 0.~~00189446~~00223081 B-3 0.00000000 0.~~00189475~~00223117 999.~~99810525~~98730848 0.~~99999811~~99998731 0.~~00189475~~00223117 B-4 0.00000000 0.~~00189377~~00222994 999.~~99810623~~98730763 0.~~99999811~~99998731 0.~~00189377~~00222994 B-5 0.00000000 0.~~00189567~~00223123 999.~~99810433~~98730989 0.~~99999810~~99998731 0.~~00189567~~00223123 B-6 0.00000000 0.~~00189459~~00223047 999.~~99810541~~98730904 0.~~99999811~~99998731 0.~~00189459~~00223047 (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 I-A-1 502,449,600.00 1.~~44000~~95000% ~~500~~474,~~080~~441,~~580~~768.2838 ~~600~~770,~~096~~967.7087 0.00 0.00 I-A-2 99,189,300.00 1.~~44000~~95000% 9893,~~702~~439,~~920~~063.9378 ~~118~~151,~~443~~838.5148 0.00 0.00 I-A-3 3,967,700.00 1.~~44000~~95000% 3,967,700.00 46,~~761~~447.2451 0.00 0.00 II-A-1 92,375,500.00 3.~~28583~~37317% 9186,~~713~~563,~~027~~268.1080 ~~251~~243,~~127~~326.6999 0.00 0.00 X 0.00 1.~~47187~~19390% ~~659~~628,~~737~~833,~~201~~936.2207 ~~809~~625,~~207~~635.8719 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 31,361,500.00 12.~~54000~~05000% 31,361,~~500~~171.0095 4053,~~247~~575.2634 0.00 0.00 B-1 11,473,600.00 12.~~69000~~20000% 11,473,~~600~~479.0098 1621,~~158~~034.6571 0.00 0.00 B-2 8,414,000.00 2.~~29000~~80000% 8,~~414~~413,~~000~~911.0099 1619,~~056~~632.7246 0.00 0.00 B-3 5,736,900.00 23.~~79000~~30000% 5,736,~~900~~839.0099 1315,~~338~~776.2931 0.00 0.00 B-4 2,677,200.00 23.~~98542~~20021% 2,677,~~200~~172.00 67,~~660~~139.4760 0.00 0.00 B-5 2,294,700.00 23.~~98542~~20021% 2,294,~~700~~676.00 56,~~708~~119.8754 0.00 0.00 B-6 4,972,043.00 23.~~98542~~20021% 4,~~972~~971,~~043~~990.0099 1213,~~369~~259.6952 0.00 0.00 Totals 764,912,193.00 1,~~894~~934,~~176~~753.9652 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 I-A-1 0.00 0.00 ~~600~~770,~~096~~967.7088 0.00 ~~494~~465,~~641~~025,~~641~~886.4702 I-A-2 0.00 0.00 ~~118~~151,~~443~~838.5148 0.00 9791,~~586~~505,~~262~~906.4536 I-A-3 0.00 0.00 46,~~761~~447.2451 0.00 3,967,700.00 II-A-1 0.00 0.00 ~~251~~243,~~127~~327.6900 0.00 9185,~~652~~722,~~051~~183.9151 X 0.00 0.00 ~~809~~625,~~207~~158.8714 0.00 ~~653~~617,~~181~~484,~~495~~769.9418 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 4053,~~247~~575.2634 0.00 31,361,~~440~~102.5700 B-1 0.00 0.00 1621,~~158~~034.6571 0.00 11,473,~~578~~454.2639 B-2 0.00 0.00 1619,~~056~~632.7246 0.00 8,413,~~984~~893.0622 B-3 0.00 0.00 1315,~~338~~776.2931 0.00 5,736,~~889~~827.1319 B-4 0.00 0.00 67,~~660~~139.4760 0.00 2,677,~~194~~166.9302 B-5 0.00 0.00 56,~~708~~119.8754 0.00 2,294,~~695~~670.6588 B-6 0.00 0.00 1213,~~369~~259.6952 0.00 4,~~972~~971,~~033~~979.5890 Totals 0.00 0.00 1,~~894~~934,~~176~~276.9649 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 I-A-1 502,449,600.00 1.~~44000~~95000% ~~995~~944.~~28505999~~25743076 1.~~19434208~~53441832 0.00000000 0.00000000 I-A-2 99,189,300.00 1.~~44000~~95000% ~~995~~942.~~09645627~~02765601 1.~~19411580~~53079495 0.00000000 0.00000000 I-A-3 3,967,700.00 1.~~44000~~95000% 1000.00000000 1.~~20000000~~62499937 0.00000000 0.00000000 II-A-1 92,375,500.00 3.~~28583~~37317% ~~992~~937.~~82847833~~08038170 2.~~71855297~~63410742 0.00000000 0.00000000 X 0.00 1.~~47187~~19390% ~~995~~949.~~69056645~~05064752 10.~~22127514~~94422303 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 31,361,500.00 12.~~54000~~05000% ~~1000~~999.~~00000000~~98953972 1.~~28333339~~70831561 0.00000000 0.00000000 B-1 11,473,600.00 12.~~69000~~20000% ~~1000~~999.~~00000000~~98953946 1.~~40833304~~83331387 0.00000000 0.00000000 B-2 8,414,000.00 2.~~29000~~80000% ~~1000~~999.~~00000000~~98954005 12.~~90833373~~33330877 0.00000000 0.00000000 B-3 5,736,900.00 23.~~79000~~30000% ~~1000~~999.~~00000000~~98953965 2.~~32499956~~74997124 0.00000000 0.00000000 B-4 2,677,200.00 23.~~98542~~20021% ~~1000~~999.~~00000000~~98954131 2.~~48784925~~66681608 0.00000000 0.00000000 B-5 2,294,700.00 23.~~98542~~20021% ~~1000~~999.~~00000000~~98954112 2.~~48785026~~66681483 0.00000000 0.00000000 B-6 4,972,043.00 23.~~98542~~20021% ~~1000~~999.~~00000000~~98953951 2.~~48784856~~66681523 0.00000000 0.00000000 (5) Per $1 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 I-A-1 0.00000000 0.00000000 1.~~19434208~~53441834 0.00000000 ~~984~~925.~~46021545~~51747682 I-A-2 0.00000000 0.00000000 1.~~19411580~~53079495 0.00000000 ~~983~~922.~~83860406~~53807981 I-A-3 0.00000000 0.00000000 1.~~20000000~~62499937 0.00000000 1000.00000000 II-A-1 0.00000000 0.00000000 2.~~71855297~~63410753 0.00000000 ~~992~~927.~~16839866~~97531283 X 0.00000000 0.00000000 10.~~22127514~~94350305 0.00000000 ~~985~~931.~~79654518~~92222367 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.~~28333339~~70831561 0.00000000 999.~~99810500~~98730928 B-1 0.00000000 0.00000000 1.~~40833304~~83331387 0.00000000 999.~~99810522~~98730913 B-2 0.00000000 0.00000000 12.~~90833373~~33330877 0.00000000 999.~~99810554~~98730925 B-3 0.00000000 0.00000000 2.~~32499956~~74997124 0.00000000 999.~~99810525~~98730848 B-4 0.00000000 0.00000000 2.~~48784925~~66681608 0.00000000 999.~~99810623~~98730763 B-5 0.00000000 0.00000000 2.~~48785026~~66681483 0.00000000 999.~~99810433~~98730989 B-6 0.00000000 0.00000000 2.~~48784856~~66681523 0.00000000 999.~~99810541~~98730904 (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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage X 1.~~49960~~22383% ~~602~~571,~~751~~848,~~201~~532.2216 ~~596~~560,~~195~~499,~~603~~492.9238 0.00 0.00 9892.~~44602155~~55174768% X 10.~~17864~~89348% 56,~~986~~985,~~000~~403.0091 56,985,~~892~~276.0280 0.00 0.00 99.~~99981051~~99873092%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 814,~~728~~362,~~655~~154.1071 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 3421,~~028~~150.7435 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 814,~~762~~383,~~683~~305.8406 Withdrawals Reimbursement for Servicer Advances 625,~~394~~140.0764 Payment of Service Fee ~~245~~233,~~413~~613.5056 Payment of Interest and Principal 814,~~510~~124,~~876~~550.2786 Total Withdrawals (Pool Distribution Amount) 814,~~762~~383,~~683~~305.8406 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~243~~69,~~827~~357.2909 Master Servicing Fee 1,~~586~~511.2112 Special Servicing Fee 162,745.35 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~245~~233,~~413~~613.5056

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Basis Risk Reserve Fund 5,000.00 0477.0006 0477.0006 5,000.00

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 3819 0 0 0 3819 115,~~592~~462,~~039~~401.9840 0.00 0.00 0.00 115,~~592~~462,~~039~~401.9840 60 Days 41 0 0 0 4 1 375,~~599,055~~250.2500 0.00 0.00 0.00 1375,~~599,055~~250.2500 90 Days 01 0 0 0 01 0170,200.00 0.00 0.00 0.00 0170,200.00 120 Days 0 01 0 0 01 0.00 0199,065.0052 0.00 0.00 0199,065.0052 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 01 0 01 0.00 0.00 0680,000.00 0.00 0680,000.00 Totals 4221 01 01 0 4223 136,~~191~~007,~~095~~851.2340 0199,065.0052 0680,000.00 0.00 136,~~191~~886,~~095~~916.2392 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 10.~~241830~~647359% 0.000000% 0.000000% 0.000000% 10.~~241830~~647359% 10.~~535821~~765952% 0.000000% 0.000000% 0.000000% 10.~~535821~~765952% 60 Days 0.~~130719~~034072% 0.000000% 0.000000% 0.000000% 0.~~130719~~034072% 0.~~211858~~052618% 0.000000% 0.000000% 0.000000% 0.~~211858~~052618% 90 Days 0.~~000000~~034072% 0.000000% 0.000000% 0.000000% 0.~~000000~~034072% 0.~~000000~~023866% 0.000000% 0.000000% 0.000000% 0.~~000000~~023866% 120 Days 0.000000% 0.~~000000~~034072% 0.000000% 0.000000% 0.~~000000~~034072% 0.000000% 0.~~000000~~027913% 0.000000% 0.000000% 0.~~000000~~027913% 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~~034072% 0.000000% 0.~~000000~~034072% 0.000000% 0.000000% 0.~~000000~~095351% 0.000000% 0.~~000000~~095351% Totals 10.~~372549~~715503% 0.~~000000~~034072% 0.~~000000~~034072% 0.000000% 10.~~372549~~783646% 10.~~747679~~842436% 0.~~000000~~027913% 0.~~000000~~095351% 0.000000% 10.~~747679~~965701%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 3515 0 0 0 3515 93,~~777~~907,~~919~~451.9840 0.00 0.00 0.00 93,~~777~~907,~~919~~451.9840 60 Days 2 0 0 0 ~~2 831,440.00~~ 0~~.00~~ 0~~.00~~ 0.00 ~~831,440.00 90 Days~~ 0 ~~0 0 0 0 0~~.00 0.00 0.00 0.00 ~~0.00~~90 ~~120~~ Days 01 0 0 0 01 0170,200.00 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 37 0 0 0 37 10~~170,~~609,359~~200.~~98 0.~~00 0.00 0.00 10,609,359.98 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.352396% 0.000000% 0.000000% 0.000000% 1.352396% 1.494482% 0.000000% 0.000000% 0.000000% 1.494482% 60 Days 0.077280% 0.000000% 0.000000% 0.000000% 0.077280% 0.127079% 0.000000% 0.000000% 0.000000% 0.127079% 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 1~~.429675%~~ 0~~.000000%~~ 0~~.000000%~~ ~~0.000000%~~ 1~~.429675%~~ ~~1.621562%~~ 0.000000% 0.000000% 0.000000% 1.621562% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 3 0 0 0 3 1~~199,~~814,120~~065.0052 0.00 0.00 ~~0.00 1~~199,~~814,120~~065.0052 ~~60 Days 2 0 0 0 2 767,615.25 0.00 0.00 0.00 767,615.25 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 516 01 0 0 517 24,~~581~~077,~~735~~651.2540 0199,065.0052 0.00 0.00 24,~~581~~276,~~735~~716.2592 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~635593~~604595% 0.000000% 0.000000% 0.000000% 0.~~635593~~604595% 10.~~804915~~631690% 0.000000% 0.000000% 0.000000% 10.~~804915~~631690% 60 Days 0.~~423729~~000000% 0.000000% 0.000000% 0.000000% 0.~~423729~~000000% 0.~~763720~~000000% 0.000000% 0.000000% 0.000000% 0.~~763720~~000000% 90 Days 0.~~000000~~040306% 0.000000% 0.000000% 0.000000% 0.~~000000~~040306% 0.~~000000~~027515% 0.000000% 0.000000% 0.000000% 0.~~000000~~027515% 120 Days 0.000000% 0.~~000000~~040306% 0.000000% 0.000000% 0.~~000000~~040306% 0.000000% 0.~~000000~~032181% 0.000000% 0.000000% 0.~~000000~~032181% 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 10.~~059322~~644901% 0.~~000000~~040306% 0.000000% 0.000000% 10.~~059322~~685208% 20.~~568636~~659205% 0.~~000000~~032181% 0.000000% 0.000000% 20.~~568636~~691386%

~~OTHER~~DELINQUENT ~~INFORMATION~~BANKRUPTCY ~~Current~~FORECLOSURE ~~Period~~REO ~~Class~~Total AGroup ~~Insufficient~~II ~~Funds~~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 ~~Principal~~0.00 ~~Balance~~0.00 of0.00 ~~Contaminated~~30 ~~Properties~~Days 4 0 0 0 4 1,554,950.00 ~~Periodic~~0.00 ~~Advance~~0.00 340.00 1,~~028~~554,950.7400 60 Days 1 0 0 0 1 375,250.00 0.00 0.00 0.00 375,250.00 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 1 0 1 0.00 0.00 680,000.00 0.00 680,000.00 Totals 5 0 1 0 6 1,930,200.00 0.00 680,000.00 0.00 2,610,200.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.881057% 0.000000% 0.000000% 0.000000% 0.881057% 1.644042% 0.000000% 0.000000% 0.000000% 1.644042% 60 Days 0.220264% 0.000000% 0.000000% 0.000000% 0.220264% 0.396750% 0.000000% 0.000000% 0.000000% 0.396750% 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% 0.220264% 0.000000% 0.220264% 0.000000% 0.000000% 0.718961% 0.000000% 0.718961% Totals 1.101322% 0.000000% 0.220264% 0.000000% 1.321586% 2.040792% 0.000000% 0.718961% 0.000000% 2.759753%

~~COLLATERAL~~OTHER ~~STATEMENT~~INFORMATION ~~Collateral~~Current ~~Description~~Period ~~Mixed~~Class ~~ARM~~A ~~Weighted~~Insufficient ~~Average~~Funds Gross Coupon 3.372115% Weighted Average Net Coupon 2.987829% Weighted Average Pass-Through Rate 2.985329% Weighted Average Maturity(Stepdown Calculation ) 314 Beginning Scheduled Collateral Loan Count 3,073 Number Of Loans Paid In Full 13 Ending Scheduled Collateral Loan Count 3,060 Beginning Scheduled Collateral Balance 761,394,172.11 Ending Scheduled Collateral Balance 754,777,472.80 Ending Actual Collateral Balance at 31-Mar-2004 754,778,020.41 Monthly P &I Constant 2,141,030.39 Special Servicing Fee 0.00 ~~Prepayment~~Principal ~~Penalties~~Balance ~~0.00~~of ~~Realized~~Contaminated ~~Loss~~Properties ~~Amount~~ 0.00 ~~Cumulative~~Periodic ~~Realized~~Advance ~~Loss 0.00 Ending Scheduled Balance for Premium Loans 754~~21,~~777,472~~150.~~80 Scheduled Principal 1,439.90 Unscheduled Principal 6,615,259.41~~35

~~Miscellaneous~~COLLATERAL ~~Reporting~~STATEMENT Collateral Description Mixed ARM Weighted Average ~~Loss~~Gross ~~Severity~~Coupon 03.~~000000~~586545% ~~Senior~~Weighted ~~Percentage~~Average -Net ~~Group~~Coupon ~~1 91~~3.~~212178~~471801% ~~Senior~~Weighted ~~Percentage~~Average Pass-Through ~~Group~~Rate ~~2 91~~3.~~192313~~200056% ~~Senior~~Weighted ~~Prepay~~Average ~~Percentage~~Maturity(Stepdown -Calculation ~~Group~~) 1309 ~~100.000000%~~Beginning ~~Senior~~Scheduled ~~Prepay~~Collateral ~~Percentage~~Loan -Count ~~Group~~2,974 Number Of Loans Paid In Full 39 Ending Scheduled Collateral Loan Count 2,935 ~~100.000000%~~Beginning ~~Subordinate~~Scheduled ~~Percentage~~Collateral -Balance ~~Group~~725,341,044.64 1Ending 8Scheduled Collateral Balance 713,150,770.~~787822%~~28 ~~Subordinate~~Ending ~~Percentage~~Actual Collateral Balance at 31-Aug-2004 ~~Group~~713,152,378.20 2Monthly 8P &I Constant 2,169,498.~~807687%~~31 ~~Subordinate~~Special ~~Prepay~~Servicing ~~Percentage~~Fee -0.00 ~~Group~~Prepayment 1Penalties 0.~~000000%~~00 ~~Subordinate~~Realized ~~Prepay~~Loss ~~Percentage~~Amount -0.00 ~~Group~~Cumulative 2Realized Loss 0.~~000000%~~00 Ending Scheduled Balance for Premium Loans 713,150,770.28 Scheduled Principal 1,608.25 Unscheduled Principal 12,188,666.11

~~Group~~Miscellaneous ~~Level~~Reporting ~~Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted~~ Average ~~Coupon~~Loss ~~Rate~~Severity ~~3.327795 3.663328 3.372115 Weighted Average Net Rate 2.942096 3.288328 2.987829 Weighted Average Maturity 313 323 314 Beginning Loan Count 2,601 472 3,073 Loans Paid In Full 13~~ 0 ~~13 Ending Loan Count 2,588 472 3,060 Beginning Scheduled Balance 660,823,165~~.45000000% ~~100,571,006.66~~Senior ~~761,394,172.11~~Percentage ~~Ending~~- ~~scheduled~~Group ~~Balance 654,267,568.15 100,509,904.65 754,777,472.80 Record Date 03/31/2004 03/31/2004 03/31/2004 Principal And Interest Constant~~ 1~~,832,570.01~~ ~~308,460.38 2,141,030.39 Scheduled Principal 0.00 1,439.~~90 ~~1,439~~.90781065% ~~Unscheduled~~Senior ~~Principal~~Percentage ~~6,555,597.30~~- ~~59,662.11~~Group ~~6,615,259.41 Scheduled Interest 1,832,570.01 307,020.48~~ 2~~,139,590.49~~ ~~Servicing Fees 212,398~~90.86717640% ~~31,428.43~~Senior ~~243,827.29~~Prepay ~~Master~~Percentage ~~Servicing~~- ~~Fees~~Group 1~~,376.69~~ ~~209~~100.52000000% ~~1,586.21~~Senior ~~Trustee~~Prepay ~~Fee~~Percentage ~~0.00~~- ~~0.00~~Group ~~0.00~~2 ~~FRY Amount 0~~100.00000000% ~~0.00~~Subordinate ~~0.00~~Percentage ~~Special~~- ~~Hazard~~Group ~~Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee~~ 1 09.00218935% ~~0.00~~Subordinate ~~0.00~~Percentage ~~Spread~~- ~~Fee~~Group 2 09.00282360% ~~0.00~~Subordinate ~~0.00~~Prepay ~~Spread~~Percentage ~~Fee~~- 3Group ~~0.00 0.00 0.00 Net Interest~~ 1~~,618,794.46~~ ~~275,382.53 1,894,176.99 Realized Loss Amount~~ 0.00000000% ~~0.00~~Subordinate ~~0.00~~Prepay ~~Cumulative Realized Loss 0.00 0.00 0.00~~ Percentage ~~of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass~~-~~Through~~ ~~Rate~~Group 2~~.939596~~ 30.~~285828 2.985329~~000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS II INC SERIES 2004-AR1