8-K 1 ahm03001_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 27, 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: ( ) - (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 27, 2004 a distribution was made to holders of AMERICAN HOME MORTGAGE INVESTMENT TRUST, Mortgage-Backed Notes, Series 2003-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2003-1 Trust, relating to the September 27, 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 (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: 9/28/2004 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 September 27, 2004 distribution. EX-99.1

AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage ~~Pass~~-~~Through~~Backed ~~Certificates~~Notes Record Date: 78/31/042004 Distribution Date: 89/2527/042004 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 12.~~85000~~01500% ~~178~~173,~~920~~562,~~744~~096.7950 ~~275~~320,~~836~~583.1466 54,~~358~~293,~~648~~983.2996 M-1 02660TAB9 MEZ 2.~~15000~~31500% 109,~~237~~931,~~950~~325.3433 1821,~~342~~075.9910 ~~306~~245,~~625~~704.0129 M-2 02660TAC7 MEZ 23.~~85000~~01500% 5,~~850~~675,~~218~~005.5945 1315,~~894~~684.2730 ~~175~~140,~~213~~401.1352 OT AHM0301OT OT 0.00000% 0.00 ~~219~~175,~~882~~542.4616 0.00 Totals ~~195~~189,~~008~~168,~~913~~427.7228 ~~527~~532,~~955~~885.8622 54,~~840~~680,~~486~~089.4377

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~173~~169,~~562~~268,~~096~~112.5054 54,~~634~~614,~~484~~567.4362 0.00 M-1 0.00 9,~~931~~685,~~325~~621.3304 ~~324~~266,~~968~~779.0039 0.00 M-2 0.00 5,~~675~~534,~~005~~603.4593 ~~189~~156,~~107~~085.4082 0.00 OT 0.00 0.00 ~~219~~175,~~882~~542.4616 0.00 Totals 0.00 ~~189~~184,~~168~~488,~~427~~337.2851 65,~~368~~212,~~442~~974.2999 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 ~~178~~173,~~920~~562,~~744~~096.7950 0.00 54,~~358~~293,~~648~~983.2996 0.00 0.00 M-1 11,321,700.00 109,~~237~~931,~~950~~325.3433 0.00 ~~306~~245,~~625~~704.0129 0.00 0.00 M-2 6,469,500.00 5,~~850~~675,~~218~~005.5945 0.00 ~~175~~140,~~213~~401.1352 0.00 0.00 OT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~195~~189,~~008~~168,~~913~~427.7228 0.00 54,~~840~~680,~~486~~089.4377 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 54,~~358~~293,~~648~~983.2996 ~~173~~169,~~562~~268,~~096~~112.5054 0.~~87719382~~85549176 54,~~358~~293,~~648~~983.2996 M-1 ~~306~~245,~~625~~704.0129 9,~~931~~685,~~325~~621.3304 0.~~87719383~~85549176 ~~306~~245,~~625~~704.0129 M-2 ~~175~~140,~~213~~401.1352 5,~~675~~534,~~005~~603.4593 0.~~87719382~~85549176 ~~175~~140,~~213~~401.1352 OT 0.00 0.00 0.00000000 0.00 Totals 54,~~840~~680,~~486~~089.4377 ~~189~~184,~~168~~488,~~427~~337.2851 0.~~87719382~~85549176 54,~~840~~680,~~486~~089.4377

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 197,860,600.00 ~~904~~877.~~27677259~~19382484 0.00000000 2721.~~08294774~~70206681 0.00000000 M-1 11,321,700.00 ~~904~~877.~~27677292~~19382513 0.00000000 2721.~~08294779~~70206683 0.00000000 M-2 6,469,500.00 ~~904~~877.~~27677409~~19382487 0.00000000 2721.~~08294768~~70206662 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 2721.~~08294774~~70206681 ~~877~~855.~~19382484~~49175804 0.~~87719382~~85549176 2721.~~08294774~~70206681 M-1 0.00000000 2721.~~08294779~~70206683 ~~877~~855.~~19382513~~49175830 0.~~87719383~~85549176 2721.~~08294779~~70206683 M-2 0.00000000 2721.~~08294768~~70206662 ~~877~~855.~~19382487~~49175825 0.~~87719382~~85549176 2721.~~08294768~~70206662 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 12.~~85000~~01500% ~~178~~173,~~920~~562,~~744~~096.7950 ~~275~~320,~~836~~583.1566 0.00 0.00 M-1 11,321,700.00 2.~~15000~~31500% 109,~~237~~931,~~950~~325.3433 1821,~~342~~075.9910 0.00 0.00 M-2 6,469,500.00 23.~~85000~~01500% 5,~~850~~675,~~218~~005.5945 1315,~~894~~684.2730 0.00 0.00 OT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~308~~357,~~073~~343.4106 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 0.0100 0.00 ~~275~~320,~~836~~583.1466 0.00 ~~173~~169,~~562~~268,~~096~~112.5054 M-1 0.00 0.00 1821,~~342~~075.9910 0.00 9,~~931~~685,~~325~~621.3304 M-2 0.00 0.00 1315,~~894~~684.2730 0.00 5,~~675~~534,~~005~~603.4593 OT 0.00 0.00 ~~219~~175,~~882~~542.4616 0.00 0.00 Totals 0.0100 0.00 ~~527~~532,~~955~~885.8622 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 12.~~85000~~01500% ~~904~~877.~~27677259~~19382484 1.~~39409337~~62025012 0.00000000 0.00000000 M-1 11,321,700.00 2.~~15000~~31500% ~~904~~877.~~27677292~~19382513 1.~~62016217~~86147840 0.00000000 0.00000000 M-2 6,469,500.00 23.~~85000~~01500% ~~904~~877.~~27677409~~19382487 2.~~14765747~~42434500 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.~~00000005~~00000000 0.00000000 1.~~39409332~~62025012 0.00000000 ~~877~~855.~~19382484~~49175804 M-1 0.00000000 0.00000000 1.~~62016217~~86147840 0.00000000 ~~877~~855.~~19382513~~49175830 M-2 0.00000000 0.00000000 2.~~14765747~~42434500 0.00000000 ~~877~~855.~~19382487~~49175825 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 65,~~426~~277,~~515~~736.1652 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 52,~~655~~724.4510 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 65,~~432~~280,~~170~~460.6162 Withdrawals Reimbursement for Servicer Advances 05,655.0045 Payment of Service Fee 6361,~~728~~830.3218 Payment of Interest and Principal 65,~~368~~212,~~442~~974.2999 Total Withdrawals (Pool Distribution Amount) 65,~~432~~280,~~170~~460.6162 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6159,~~277~~452.2409 Indenture Trustee Fee ~~817~~792.0270 Master Servicing Fee 1,~~634~~585.0639 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6361,~~728~~830.3218

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 62 0 0 0 62 1887,~~927,282~~976.1771 0.00 0.00 0.00 1887,~~927,282~~976.1771 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 62 0 0 0 62 1887,~~927,282~~976.1771 0.00 0.00 0.00 1887,~~927,282~~976.1771 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.~~158301~~397614% 0.000000% 0.000000% 0.000000% 10.~~158301~~397614% 10.~~013044~~478522% 0.000000% 0.000000% 0.000000% 10.~~013044~~478522% 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 10.~~158301~~397614% 0.000000% 0.000000% 0.000000% 10.~~158301~~397614% 10.~~013044~~478522% 0.000000% 0.000000% 0.000000% 10.~~013044~~478522%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 52,~~655~~724.4510

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~620946~~751227% Weighted Average Net Coupon 3.~~245946~~376227% Weighted Average Pass-Through Rate 3.~~230946~~361227% Weighted Average Maturity(Stepdown Calculation ) ~~347~~346 Beginning Scheduled Collateral Loan Count ~~532~~518 Number Of Loans Paid In Full 1415 Ending Scheduled Collateral Loan Count ~~518~~503 Beginning Scheduled Collateral Balance ~~196~~190,~~087~~246,~~173~~686.2178 Ending Scheduled Collateral Balance ~~190~~185,~~246~~566,~~686~~597.7801 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~190~~185,~~246~~566,~~686~~597.7801 Monthly P &I Constant ~~591~~594,~~684~~715.2039 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 ~~190~~185,~~246~~566,~~686~~597.7801 Scheduled Principal 0.00 Unscheduled Principal 54,~~840~~680,~~486~~089.4377 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,078,259.50 Overcollateralized Amount 1,078,259.50 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~219~~175,~~882~~542.4616

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