8-K 1 sam03ar1_oct.txt OCT. 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): October 19, 2004 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2003-AR1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-20 54-2120418 Pooling and Servicing Agreement) (Commission 54-2120419 (State or other File Number) 54-2120420 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 October 19, 2004 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2003-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 2003-AR1 Trust, relating to the October 19, 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 2003-AR1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 10/19/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-AR1 Trust, relating to the October 19, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 89/3130/~~2004~~04 Distribution Date: 910/2019/~~2004~~04 SAM Series: 2003-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 A-1 86358HRV3 SEN 12.~~97000~~18125% ~~194~~191,~~081~~960,~~963~~885.3593 ~~318~~348,~~617~~928.8991 2,~~121~~718,~~077~~920.4232 A-2 86358HRW1 SEN 3.~~14581~~30754% 66,~~957~~002,~~672~~938.8558 ~~175~~181,~~529~~922.8889 ~~954~~1,~~734~~648,622.2792 A-3 86358HRX9 SEN 2.~~02000~~23125% 5957,~~940~~516,~~052~~237.3564 ~~100~~106,~~899~~944.0926 2,~~423~~500,~~814~~807.7043 A-3M 86358HRY7 SEN 2.~~35000~~56125% 1,~~498~~437,~~525~~928.0168 23,~~934~~069.6108 6062,~~596~~521.3317 A-4 86358HRZ4 SEN 3.~~21300~~27200% 2019,~~012~~345,~~254~~406.9716 5352,~~582~~748.8148 ~~666~~1,~~848~~578,829.8234 A-5 86358HSA8 SEN 3.~~25800~~31600% 9,~~907~~894,~~079~~275.5936 2627,~~897~~341.7218 12383,~~804~~764.2284 X-1 86358HSB6 SEN 10.~~00049~~90222% 0.00 ~~267~~237,~~963~~653.0756 0.00 R-I 86358HSH3 RES 3.~~03972~~03974% 0.00 0.00 0.00 R-II 86358HSJ9 RES 3.~~03972~~03974% 0.00 0.00 0.00 R-III 86358HSK6 RES 3.~~03972~~03974% 0.00 0.00 0.00 M 86358HSD2 MEZ 2.~~40000~~61125% 17,~~566~~556,~~806~~719.0381 3538,~~133~~204.6115 109,~~086~~375.2274 B-1 86358HSE0 SUB 2.~~60000~~81125% 7,~~959~~955,~~999~~428.2288 1718,~~246~~637.6625 4,~~570~~248.3440 B-2 86358HSF7 SUB 2.~~60000~~81125% 6,~~038~~035,~~657~~190.6649 1314,~~083~~138.7669 3,~~467~~222.1895 B-3 86358HSG5 SUB 2.~~60000~~81125% 4,~~391~~389,~~751~~229.0344 910,~~515~~282.4668 2,~~521~~343.5896 B-4 86358HSL4 SUB 3.~~20749~~32304% 1,~~921~~920,~~341~~238.5639 5,~~135~~317.5852 1,~~103~~025.1646 B-5 86358HSM2 SUB 3.~~20749~~32304% 1,~~372~~371,~~372~~584.6871 3,~~668~~798.2319 ~~787~~732.9746 B-6 86358HSN0 SUB 3.~~20749~~32304% 3,~~294~~292,~~001~~110.6233 89,~~804~~116.5851 1,~~891~~758.3007 Totals ~~394~~388,~~942~~678,~~477~~174.9240 1,~~039~~058,~~012~~103.9535 68,~~264~~916,~~303~~173.5106

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~191~~189,~~960~~241,~~885~~965.9361 23,~~439~~067,~~695~~849.3123 0.00 A-2 0.00 6664,~~002~~354,~~938~~315.5866 1,~~130~~830,~~264~~545.1581 0.00 A-3 0.00 5755,~~516~~015,~~237~~430.6421 2,~~524~~607,~~713~~751.7969 0.00 A-3M 0.00 1,~~437~~375,~~928~~407.6851 6365,~~530~~590.9425 0.00 A-4 0.00 1917,~~345~~766,~~406~~576.1682 ~~720~~1,~~431~~631,577.6382 0.00 A-5 0.00 9,~~894~~510,~~275~~510.3652 39411,~~701~~106.9402 0.00 X-1 0.00 0.00 ~~267~~237,~~963~~653.0756 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 17,~~556~~547,~~719~~344.8107 4547,~~219~~579.8389 0.00 B-1 0.00 7,~~955~~951,~~428~~180.8847 2122,~~817~~885.0065 0.00 B-2 0.00 6,~~035~~031,~~190~~967.4954 1617,~~550~~361.9464 0.00 B-3 0.00 4,~~389~~386,~~229~~885.4448 12,~~037~~626.0464 0.00 B-4 0.00 1,~~920~~919,~~238~~212.3993 6,~~238~~342.7498 0.00 B-5 0.00 1,~~371~~370,~~584~~852.7125 4,~~456~~530.2065 0.00 B-6 0.00 3,~~292~~290,~~110~~352.3325 10,~~695~~874.8858 0.00 Totals 0.00 ~~388~~379,~~678~~762,~~174~~001.4032 79,~~303~~974,~~316~~276.4641 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-1 230,624,800.00 ~~194~~191,~~081~~960,~~963~~885.3593 0.00 2,~~121~~718,~~077~~920.4232 0.00 0.00 A-2 87,637,500.00 66,~~957~~002,~~672~~938.8558 15,~~751~~637.0196 ~~938~~1,~~983~~632,984.2696 0.00 0.00 A-3 132,789,900.00 5957,~~940~~516,~~052~~237.3564 8776,~~871~~741.4315 2,~~335~~424,~~943~~066.27 0.00 0.00 A-3M 3,319,800.00 1,~~498~~437,~~525~~928.0168 21,~~196~~918.8256 5860,~~399~~602.5162 0.00 0.00 A-4 36,541,400.00 2019,~~012~~345,~~254~~406.9716 2826,~~728~~187.1502 ~~638~~1,~~120~~552,642.6732 0.00 0.00 A-5 20,424,100.00 9,~~907~~894,~~079~~275.5936 12,~~031~~080.0695 ~~773~~371,683.1689 0.00 0.00 X-1 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 17,737,400.00 17,~~566~~556,~~806~~719.0381 109,~~086~~375.2274 0.00 0.00 0.00 B-1 8,037,300.00 7,~~959~~955,~~999~~428.2288 4,~~570~~248.3440 0.00 0.00 0.00 B-2 6,097,300.00 6,~~038~~035,~~657~~190.6649 3,~~467~~222.1895 0.00 0.00 0.00 B-3 4,434,400.00 4,~~391~~389,~~751~~229.0344 2,~~521~~343.5896 0.00 0.00 0.00 B-4 1,940,000.00 1,~~921~~920,~~341~~238.5639 1,~~103~~025.1646 0.00 0.00 0.00 B-5 1,385,700.00 1,~~372~~371,~~372~~584.6871 ~~787~~732.9746 0.00 0.00 0.00 B-6 3,325,990.36 3,~~294~~292,~~001~~110.6233 1,~~891~~758.3007 0.00 0.00 0.00 Totals 554,295,740.36 ~~394~~388,~~942~~678,~~477~~174.9240 ~~171~~155,~~006~~272.2268 68,~~093~~760,~~297~~900.2938 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 2,~~121~~718,~~077~~920.4232 ~~191~~189,~~960~~241,~~885~~965.9361 0.~~83235145~~82056208 2,~~121~~718,~~077~~920.4232 A-2 ~~954~~1,~~734~~648,622.2792 6664,~~002~~354,~~938~~315.5866 0.~~75313580~~73432396 ~~954~~1,~~734~~648,622.2792 A-3 2,~~423~~500,~~814~~807.7043 5755,~~516~~015,~~237~~430.6421 0.~~43313714~~41430433 2,~~423~~500,~~814~~807.7043 A-3M 6062,~~596~~521.3317 1,~~437~~375,~~928~~407.6851 0.~~43313714~~41430433 6062,~~596~~521.3317 A-4 ~~666~~1,~~848~~578,829.8234 1917,~~345~~766,~~406~~576.1682 0.~~52941065~~48620405 ~~666~~1,~~848~~578,829.8234 A-5 12383,~~804~~764.2284 9,~~894~~510,~~275~~510.3652 0.~~48444119~~46565139 12383,~~804~~764.2284 X-1 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 109,~~086~~375.2274 17,~~556~~547,~~719~~344.8107 0.~~98981360~~98928502 109,~~086~~375.2274 B-1 4,~~570~~248.3440 7,~~955~~951,~~428~~180.8847 0.~~98981360~~98928502 4,~~570~~248.3440 B-2 3,~~467~~222.1895 6,~~035~~031,~~190~~967.4954 0.~~98981360~~98928502 3,~~467~~222.1895 B-3 2,~~521~~343.5896 4,~~389~~386,~~229~~885.4448 0.~~98981360~~98928502 2,~~521~~343.5896 B-4 1,~~103~~025.1646 1,~~920~~919,~~238~~212.3993 0.~~98981360~~98928502 1,~~103~~025.1646 B-5 ~~787~~732.9746 1,~~371~~370,~~584~~852.7125 0.~~98981360~~98928502 ~~787~~732.9746 B-6 1,~~891~~758.3007 3,~~292~~290,~~110~~352.3325 0.~~98981355~~98928496 1,~~891~~758.3007 Totals 68,~~264~~916,~~303~~173.5106 ~~388~~379,~~678~~762,~~174~~001.4032 0.~~70121083~~68512524 68,~~264~~916,~~303~~173.5106

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 230,624,800.00 ~~841~~832.~~54853836~~35144672 0.00000000 911.~~19709164~~78936662 0.00000000 A-2 87,637,500.00 ~~764~~753.~~02992840~~13579894 0.~~17972911~~17843914 1018.~~71440034~~63340419 0.00000000 A-3 132,789,900.00 ~~451~~433.~~39014601~~13714100 0.~~66173278~~57791406 1718.~~59127215~~25489943 0.00000000 A-3M 3,319,800.00 ~~451~~433.~~39014700~~13714079 0.~~66173263~~57791433 1718.~~59127357~~25490090 0.00000000 A-4 36,541,400.00 ~~547~~529.~~65977686~~41064546 0.~~78618088~~71663976 1742.~~46295079~~48995167 0.00000000 A-5 20,424,100.00 ~~485~~484.~~06811022~~44119251 0.~~58906194~~59150464 018.~~03785528~~19829956 0.00000000 X-1 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 17,737,400.00 ~~990~~989.~~38224486~~81360346 0.~~56864140~~52858593 0.00000000 0.00000000 B-1 8,037,300.00 ~~990~~989.~~38224528~~81360407 0.~~56864121~~52858547 0.00000000 0.00000000 B-2 6,097,300.00 ~~990~~989.~~38224460~~81360438 0.~~56864186~~52858642 0.00000000 0.00000000 B-3 4,434,400.00 ~~990~~989.~~38224563~~81360274 0.~~56864063~~52858560 0.00000000 0.00000000 B-4 1,940,000.00 ~~990~~989.~~38224742~~81360309 0.~~56863918~~52858763 0.00000000 0.00000000 B-5 1,385,700.00 ~~990~~989.~~38224724~~81360323 0.~~56864401~~52858483 0.00000000 0.00000000 B-6 3,325,990.36 ~~990~~989.~~38219101~~81355135 0.~~56864266~~52858542 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 911.~~19709164~~78936662 ~~832~~820.~~35144672~~56208010 0.~~83235145~~82056208 911.~~19709164~~78936662 A-2 0.00000000 1018.~~89412945~~81184333 ~~753~~734.~~13579894~~32395561 0.~~75313580~~73432396 1018.~~89412945~~81184333 A-3 0.00000000 18.~~25300493~~83281356 ~~433~~414.~~13714100~~30432744 0.~~43313714~~41430433 18.~~25300493~~83281356 A-3M 0.00000000 18.~~25300621~~83281222 ~~433~~414.~~13714079~~30432857 0.~~43313714~~41430433 18.~~25300621~~83281222 A-4 0.00000000 1843.~~24913167~~20659143 ~~529~~486.~~41064546~~20405403 0.~~52941065~~48620405 1843.~~24913167~~20659143 A-5 0.00000000 018.~~62691722~~78980420 ~~484~~465.~~44119251~~65138831 0.~~48444119~~46565139 018.~~62691722~~78980420 X-1 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.~~56864140~~52858593 989.~~81360346~~28501753 0.~~98981360~~98928502 0.~~56864140~~52858593 B-1 0.00000000 0.~~56864121~~52858547 989.~~81360407~~28501736 0.~~98981360~~98928502 0.~~56864121~~52858547 B-2 0.00000000 0.~~56864186~~52858642 989.~~81360438~~28501796 0.~~98981360~~98928502 0.~~56864186~~52858642 B-3 0.00000000 0.~~56864063~~52858560 989.~~81360274~~28501714 0.~~98981360~~98928502 0.~~56864063~~52858560 B-4 0.00000000 0.~~56863918~~52858763 989.~~81360309~~28501546 0.~~98981360~~98928502 0.~~56863918~~52858763 B-5 0.00000000 0.~~56864401~~52858483 989.~~81360323~~28501840 0.~~98981360~~98928502 0.~~56864401~~52858483 B-6 0.00000000 0.~~56864266~~52858542 989.~~81355135~~28496293 0.~~98981355~~98928496 0.~~56864266~~52858542 (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-1 230,624,800.00 12.~~97000~~18125% ~~194~~191,~~081~~960,~~963~~885.3593 ~~318~~348,~~617~~928.8990 0.00 0.00 A-2 87,637,500.00 3.~~14581~~30754% 66,~~957~~002,~~672~~938.8558 ~~175~~181,~~529~~922.8988 0.00 0.00 A-3 132,789,900.00 2.~~02000~~23125% 5957,~~940~~516,~~052~~237.3564 ~~100~~106,~~899~~944.0925 0.00 0.00 A-3M 3,319,800.00 2.~~35000~~56125% 1,~~498~~437,~~525~~928.0168 23,~~934~~069.6108 0.00 0.00 A-4 36,541,400.00 3.~~21300~~27200% 2019,~~012~~345,~~254~~406.9716 5352,~~582~~748.8147 0.00 0.00 A-5 20,424,100.00 3.~~25800~~31600% 9,~~907~~894,~~079~~275.5936 2627,~~897~~341.7218 0.00 0.00 X-1 0.00 10.~~00049~~90222% ~~321~~316,~~397~~091,~~089~~302.2040 ~~267~~237,~~963~~653.0855 0.00 0.00 R-I 50.00 3.~~03972~~03974% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~03972~~03974% 0.00 0.00 0.00 0.00 R-III 50.00 3.~~03972~~03974% 0.00 0.00 0.00 0.00 M 17,737,400.00 2.~~40000~~61125% 17,~~566~~556,~~806~~719.0381 3538,~~133~~204.6115 0.00 0.00 B-1 8,037,300.00 2.~~60000~~81125% 7,~~959~~955,~~999~~428.2288 1718,~~246~~637.6625 0.00 0.00 B-2 6,097,300.00 2.~~60000~~81125% 6,~~038~~035,~~657~~190.6649 1314,~~083~~138.7669 0.00 0.00 B-3 4,434,400.00 2.~~60000~~81125% 4,~~391~~389,~~751~~229.0344 910,~~515~~282.4668 0.00 0.00 B-4 1,940,000.00 3.~~20749~~32304% 1,~~921~~920,~~341~~238.5639 5,~~135~~317.5852 0.00 0.00 B-5 1,385,700.00 3.~~20749~~32304% 1,~~372~~371,~~372~~584.6871 3,~~668~~798.2319 0.00 0.00 B-6 3,325,990.36 3.~~20749~~32304% 3,~~294~~292,~~001~~110.6233 89,~~804~~116.5851 0.00 0.00 Totals 554,295,740.36 1,~~039~~058,~~012~~103.9730 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 ~~318~~348,~~617~~928.8991 0.00 ~~191~~189,~~960~~241,~~885~~965.9361 A-2 0.00 0.00 ~~175~~181,~~529~~922.8889 0.00 6664,~~002~~354,~~938~~315.5866 A-3 0.00 0.00 ~~100~~106,~~899~~944.0926 0.00 5755,~~516~~015,~~237~~430.6421 A-3M 0.00 0.00 23,~~934~~069.6108 0.00 1,~~437~~375,~~928~~407.6851 A-4 0.00 0.00 5352,~~582~~748.8148 0.00 1917,~~345~~766,~~406~~576.1682 A-5 0.00 0.00 2627,~~897~~341.7218 0.00 9,~~894~~510,~~275~~510.3652 X-1 0.00 0.00 ~~267~~237,~~963~~653.0756 0.00 ~~316~~308,~~091~~827,~~302~~268.4024 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 3538,~~133~~204.6115 0.00 17,~~556~~547,~~719~~344.8107 B-1 0.00 0.00 1718,~~246~~637.6625 0.00 7,~~955~~951,~~428~~180.8847 B-2 0.00 0.00 1314,~~083~~138.7669 0.00 6,~~035~~031,~~190~~967.4954 B-3 0.00 0.00 910,~~515~~282.4668 0.00 4,~~389~~386,~~229~~885.4448 B-4 0.00 0.00 5,~~135~~317.5852 0.00 1,~~920~~919,~~238~~212.3993 B-5 0.00 0.00 3,~~668~~798.2319 0.00 1,~~371~~370,~~584~~852.7125 B-6 0.00 0.00 89,~~804~~116.5851 0.00 3,~~292~~290,~~110~~352.3325 Totals (0.0001) 0.00 1,~~039~~058,~~012~~103.9535 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-1 230,624,800.00 12.~~97000~~18125% ~~841~~832.~~54853836~~35144672 1.~~38154218~~51297215 0.00000000 0.00000000 A-2 87,637,500.00 3.~~14581~~30754% ~~764~~753.~~02992840~~13579894 2.~~00290846~~07585657 0.00000000 0.00000000 A-3 132,789,900.00 2.~~02000~~23125% ~~451~~433.~~39014601~~13714100 0.~~75984009~~80536434 0.00000000 0.00000000 A-3M 3,319,800.00 2.~~35000~~56125% ~~451~~433.~~39014700~~13714079 0.~~88397193~~92447738 0.00000000 0.00000000 A-4 36,541,400.00 3.~~21300~~27200% ~~547~~529.~~65977686~~41064546 1.~~46635898~~44352625 0.00000000 0.00000000 A-5 20,424,100.00 3.~~25800~~31600% ~~485~~484.~~06811022~~44119251 1.~~31695987~~33867245 0.00000000 0.00000000 X-1 0.00 10.~~00049~~90222% ~~698~~687.~~67960359~~14544493 0.~~58252033~~51663096 0.00000000 0.00000000 R-I 50.00 3.~~03972~~03974% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~03972~~03974% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 3.~~03972~~03974% 0.00000000 0.00000000 0.00000000 0.00000000 M 17,737,400.00 2.~~40000~~61125% ~~990~~989.~~38224486~~81360346 12.~~98076437~~15387543 0.00000000 0.00000000 B-1 8,037,300.00 2.~~60000~~81125% ~~990~~989.~~38224528~~81360407 2.~~14582758~~31884464 0.00000000 0.00000000 B-2 6,097,300.00 2.~~60000~~81125% ~~990~~989.~~38224460~~81360438 2.~~14582848~~31884441 0.00000000 0.00000000 B-3 4,434,400.00 2.~~60000~~81125% ~~990~~989.~~38224563~~81360274 2.~~14582807~~31884359 0.00000000 0.00000000 B-4 1,940,000.00 3.~~20749~~32304% ~~990~~989.~~38224742~~81360309 2.~~64720619~~74098969 0.00000000 0.00000000 B-5 1,385,700.00 3.~~20749~~32304% ~~990~~989.~~38224724~~81360323 2.~~64720358~~74099011 0.00000000 0.00000000 B-6 3,325,990.36 3.~~20749~~32304% ~~990~~989.~~38219101~~81355135 2.~~64720551~~74099111 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~~00000004) 0.00000000 1.~~38154218~~51297220 0.00000000 ~~832~~820.~~35144672~~56208010 A-2 0.00000000 0.00000000 2.~~00290834~~07585668 0.00000000 ~~753~~734.~~13579894~~32395561 A-3 0.00000000 0.00000000 0.~~75984009~~80536441 0.00000000 ~~433~~414.~~13714100~~30432744 A-3M 0.00000000 0.00000000 0.~~88397193~~92447738 0.00000000 ~~433~~414.~~13714079~~30432857 A-4 0.00000000 0.00000000 1.~~46635898~~44352652 0.00000000 ~~529~~486.~~41064546~~20405403 A-5 0.00000000 0.00000000 1.~~31695987~~33867245 0.00000000 ~~484~~465.~~44119251~~65138831 X-1 0.00000000 0.00000000 0.~~58252031~~51663099 0.00000000 ~~687~~671.~~14544493~~35428603 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 12.~~98076437~~15387543 0.00000000 989.~~81360346~~28501753 B-1 0.00000000 0.00000000 2.~~14582758~~31884464 0.00000000 989.~~81360407~~28501736 B-2 0.00000000 0.00000000 2.~~14582848~~31884441 0.00000000 989.~~81360438~~28501796 B-3 0.00000000 0.00000000 2.~~14582807~~31884359 0.00000000 989.~~81360274~~28501714 B-4 0.00000000 0.00000000 2.~~64720619~~74098969 0.00000000 989.~~81360309~~28501546 B-5 0.00000000 0.00000000 2.~~64720358~~74099011 0.00000000 989.~~81360323~~28501840 B-6 0.00000000 0.00000000 2.~~64720551~~74099111 0.00000000 989.~~81355135~~28496293 (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 710,~~433~~091,~~756~~544.6180 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1621,~~319~~591.1904 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 710,~~450~~113,~~075~~135.8084 Withdrawals Reimbursement for Servicer Advances 2216,~~248~~319.0619 Payment of Service Fee ~~124~~122,~~511~~540.2824 Payment of Interest and Principal 79,~~303~~974,~~316~~276.4641 Total Withdrawals (Pool Distribution Amount) 710,~~450~~113,~~075~~135.8084 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5453,~~734~~574.4360 Additional Servicing Fee 6766,~~604~~808.1535 Master Servicing Fee ~~822~~809.8076 Miscellaneous Servicing Fee 1,~~349~~347.9053 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~124~~122,~~511~~540.2824

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 11 0 0 0 11 14,~~702~~067,~~560~~122.4597 0.00 0.00 0.00 14,~~702~~067,~~560~~122.4597 60 Days 42 0 0 0 42 1303,~~408,222~~197.6017 0.00 0.00 0.00 1303,~~408,222~~197.6017 90 Days 10 0 0 0 10 ~~305,100~~0.00 0.00 0.00 0.00 ~~305,100~~0.00 120 Days 01 0 0 0 01 0305,100.00 0.00 0.00 0.00 0305,100.00 150 Days 0 0 10 0 10 0.00 0.00 ~~479,877~~0.5000 0.00 ~~479,877~~0.5000 180+ Days 0 0 34 0 34 0.00 0.00 1,~~366~~845,~~000~~877.0050 0.00 1,~~366~~845,~~000~~877.0050 Totals 1614 0 4 0 2018 34,~~415~~675,~~883~~420.0514 0.00 1,845,877.50 0.00 56,~~261~~521,~~760~~297.5564 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.~~846154~~862745% 0.000000% 0.000000% 0.000000% 0.~~846154~~862745% 01.~~437871~~070568% 0.000000% 0.000000% 0.000000% 01.~~437871~~070568% 60 Days 0.~~307692~~156863% 0.000000% 0.000000% 0.000000% 0.~~307692~~156863% 0.~~362172~~079809% 0.000000% 0.000000% 0.000000% 0.~~362172~~079809% 90 Days 0.~~076923~~000000% 0.000000% 0.000000% 0.000000% 0.~~076923~~000000% 0.~~078467~~000000% 0.000000% 0.000000% 0.000000% 0.~~078467~~000000% 120 Days 0.~~000000~~078431% 0.000000% 0.000000% 0.000000% 0.~~000000~~078431% 0.~~000000~~080310% 0.000000% 0.000000% 0.000000% 0.~~000000~~080310% 150 Days 0.000000% 0.000000% 0.~~076923~~000000% 0.000000% 0.~~076923~~000000% 0.000000% 0.000000% 0.~~123417~~000000% 0.000000% 0.~~123417~~000000% 180+ Days 0.000000% 0.000000% 0.~~230769~~313725% 0.000000% 0.~~230769~~313725% 0.000000% 0.000000% 0.~~351313~~485881% 0.000000% 0.~~351313~~485881% Totals 1.~~230769~~098039% 0.000000% 0.~~307692~~313725% 0.000000% 1.~~538462~~411765% 01.~~878509~~230687% 0.000000% 0.~~474729~~485881% 0.000000% 1.~~353238~~716567%

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 57 0 0 0 57 ~~701~~1,~~516~~582,948.2143 0.00 0.00 0.00 ~~701~~1,~~516~~582,948.2143 60 Days 32 0 0 0 32 1303,~~268,231~~197.5817 0.00 0.00 0.00 1303,~~268,231~~197.5817 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 1 0 0 0 1 305,100.00 0.00 0.00 0.00 305,100.00 ~~120~~150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 ~~150~~180 Days 0 0 12 0 12 0.00 0.00 ~~479~~1,079,877.50 0.00 ~~479~~1,079,877.50 Totals 10 0 2 0 12 2,191,245.60 0.00 1,079,877.50 0.00 3,271,123.10 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.973574% 0.000000% 0.000000% 0.000000% 0.973574% 0.758780% 0.000000% 0.000000% 0.000000% 0.758780% 60 Days 0.278164% 0.000000% 0.000000% 0.000000% 0.278164% 0.145336% 0.000000% 0.000000% 0.000000% 0.145336% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.139082% 0.000000% 0.000000% 0.000000% 0.139082% 0.146248% 0.000000% 0.000000% 0.000000% 0.146248% 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% 0.278164% 0.000000% 0.278164% 0.000000% 0.000000% 0.517635% 0.000000% 0.517635% Totals 1.390821% 0.000000% 0.278164% 0.000000% 1.668985% 1.050365% 0.000000% 0.517635% 0.000000% 1.568000% 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 ~~600~~0.00 0.00 30 Days 2 0 0 0 2 536,383.07 0.00 0.00 0.00 536,383.07 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 2 0 2 0.00 0.00 766,000.00 0.00 ~~600~~766,000.00 Totals 92 0 2 0 114 536,383.07 0.00 766,000.00 0.00 1,302,383.07 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.813008% 0.000000% 0.000000% 0.000000% 0.813008% 0.748163% 0.000000% 0.000000% 0.000000% 0.748163% 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% 0.813008% 0.000000% 0.813008% 0.000000% 0.000000% 1.068439% 0.000000% 1.068439% Totals 0.813008% 0.000000% 0.813008% 0.000000% 1.626016% 0.748163% 0.000000% 1.068439% 0.000000% 1.816602% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 2 0 0 0 2 1,~~274~~947,~~847~~791.7947 0.00 0.00 0.00 1,~~079~~947,~~877~~791.5047 60 Days 0 0 0 0 0 0.00 30.00 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 2 0 0 0 2 1,~~354~~947,~~725~~791.47 0.00 0.00 0.00 1,947,791.47 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.917431% 0.000000% 0.000000% 0.000000% 0.917431% 2.881841% 0.000000% 0.000000% 0.000000% 2.881841% 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 0.917431% 0.000000% 0.000000% 0.000000% 0.917431% 2.881841% 0.000000% 0.000000% 0.000000% 2.881841% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~689655~~000000% 0.000000% 0.000000% 0.000000% 0.~~689655~~000000% 0.~~331947~~000000% 0.000000% 0.000000% 0.000000% 0.~~331947~~000000% 60 Days 0.~~413793~~000000% 0.000000% 0.000000% 0.000000% 0.~~413793~~000000% 0.~~600108~~000000% 0.000000% 0.000000% 0.000000% 0.~~600108~~000000% 90 Days 0.~~137931~~000000% 0.000000% 0.000000% 0.000000% 0.~~137931~~000000% 0.~~144369~~000000% 0.000000% 0.000000% 0.000000% 0.~~144369~~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.~~137931~~000000% 0.000000% 0.~~137931~~000000% 0.000000% 0.000000% 0.~~227071~~000000% 0.000000% 0.~~227071~~000000% 180 Days 0.000000% 0.000000% 0.~~137931~~000000% 0.000000% 0.~~137931~~000000% 0.000000% 0.000000% 0.~~283911~~000000% 0.000000% 0.~~283911~~000000% Totals 10.~~241379~~000000% 0.000000% 0.~~275862~~000000% 0.000000% 10.~~517241~~000000% 10.~~076423~~000000% 0.000000% 0.~~510982~~000000% 0.000000% 10.~~587405~~000000% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

~~DELINQUENT~~OTHER ~~BANKRUPTCY~~INFORMATION ~~FORECLOSURE~~Current ~~REO~~Period ~~Total~~Class ~~Group~~A 2Insufficient NoFunds ~~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~~Principal ~~0.00~~Balance ~~0.00~~of 30Contaminated ~~Days~~Properties 3 0 ~~0 0 3 399,470~~.~~23 0.~~00 ~~0.00~~Periodic ~~0.00~~Advance ~~399~~21,~~470~~591.23 60 Days 1 0 0 0 1 139,991.02 0.00 0.00 0.00 139,991.02 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 2 0 2 0.00 0.00 766,000.00 0.00 766,000.00 Totals 4 0 2 0 6 539,461.25 0.00 766,000.00 0.00 1,305,461.25 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.185771% 0.000000% 0.000000% 0.000000% 1.185771% 0.544653% 0.000000% 0.000000% 0.000000% 0.544653% 60 Days 0.395257% 0.000000% 0.000000% 0.000000% 0.395257% 0.190869% 0.000000% 0.000000% 0.000000% 0.190869% 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% 0.790514% 0.000000% 0.790514% 0.000000% 0.000000% 1.044394% 0.000000% 1.044394% Totals 1.581028% 0.000000% 0.790514% 0.000000% 2.371542% 0.735522% 0.000000% 1.044394% 0.000000% 1.779916%04

~~DELINQUENT~~COLLATERAL ~~BANKRUPTCY~~STATEMENT ~~FORECLOSURE~~Collateral ~~REO~~Description ~~Total~~Mixed ~~Group~~ARM 3Weighted NoAverage ofGross ~~Loans~~Coupon No3.645104% ofWeighted ~~Loans~~Average NoNet ofCoupon ~~Loans~~3.479698% NoWeighted ofAverage ~~Loans~~Pass-Through NoRate of3.266775% ~~Loans~~Weighted ~~Principal~~Average ~~Balance~~Maturity(Stepdown ~~Principal~~Calculation ~~Balance~~) ~~Principal~~318 ~~Balance~~Beginning ~~Principal~~Scheduled ~~Balance~~Collateral ~~Principal~~Loan ~~Balance~~Count ~~0-29~~1,300 ~~Days~~Number 0Of 0Loans 0Paid 0In ~~0.00~~Full ~~0.00~~25 ~~0.00~~Ending ~~0.00~~Scheduled 30Collateral ~~Days~~Loan 3Count ~~0 0 0 3 601~~1,~~574.01~~275 ~~0.00~~Beginning ~~0.00~~Scheduled ~~0.00~~Collateral ~~601~~Balance 388,~~574~~678,175.0137 60Ending ~~Days~~Scheduled 0Collateral 0Balance ~~0 0 0 0~~379,762,002.0030 ~~0.00~~Ending ~~0.00~~Actual ~~0.00~~Collateral ~~0.00~~Balance 90at ~~Days~~30-Sep-2004 ~~0 0 0 0 0 0~~379,903,385.0070 ~~0.00~~Monthly ~~0.00~~P ~~0.00~~&I ~~0.00~~Constant ~~120 Days 0 0 0 0 0 0~~1,335,916.0026 ~~0.00~~Special ~~0.00~~Servicing ~~0.00~~Fee 0.00 ~~150~~Prepayment ~~Days~~Penalties 0 ~~0 0 0 0 0~~.00 ~~0.00~~Realized ~~0.00~~Loss ~~0.00~~Amount 0.00 ~~180~~Cumulative ~~Days~~Realized 0Loss 0 ~~0 0 0 0~~.00 ~~0.00~~Ending ~~0.00~~Scheduled ~~0.00~~Balance ~~0.00~~for ~~Totals~~Premium 3Loans ~~0 0 0 3 601~~379,~~574.01 0.00 0.00 0.00 601~~762,~~574~~002.~~01 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%~~ 30 ~~Days~~Scheduled ~~1.333333%~~Principal 0155,272.~~000000%~~69 ~~0.000000%~~Unscheduled ~~0.000000%~~Principal 18,760,900.333333% 0.857262% 0.000000% 0.000000% 0.000000% 0.857262% 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 1.333333% 0.000000% 0.000000% 0.000000% 1.333333% 0.857262% 0.000000% 0.000000% 0.000000% 0.857262%38

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 16,319.19

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.535272% Weighted Average Net Coupon 3.368966% Weighted Average Pass-Through Rate 3.156955% Weighted Average Maturity(Stepdown Calculation ) 319 Beginning Scheduled Collateral Loan Count 1,317 Number Of Loans Paid In Full 17 Ending Scheduled Collateral Loan Count 1,300 Beginning Scheduled Collateral Balance 394,942,478.87 Ending Scheduled Collateral Balance 388,678,175.37 Ending Actual Collateral Balance at 31-Aug-2004 388,827,348.13 Monthly P &I Constant 1,334,530.44 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 388,678,175.37 Scheduled Principal 171,006.21 Unscheduled Principal 6,093,297.29

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~349883~~432535 3.~~505845~~667385 3.~~761732~~924341 Weighted Average Net Rate 3.~~257628~~340042 3.~~427907~~589135 3.~~386732~~549341 Weighted Average Maturity ~~299~~298 ~~314~~313 ~~341~~340 Beginning Loan Count ~~729~~725 ~~256~~253 ~~232~~225 Loans Paid In Full 46 37 7 Ending Loan Count ~~725~~719 ~~253~~246 ~~225~~218 Beginning Scheduled Balance ~~213~~211,~~457~~335,~~007~~930.8038 7473,~~287~~331,~~697~~239.8326 7270,~~579~~078,~~469~~726.6015 Ending scheduled Balance ~~211~~208,~~335~~617,~~930~~010.3806 7371,~~331~~680,~~239~~880.2606 7067,~~078~~500,~~726~~554.1558 Record Date 0809/3130/2004 0809/3130/2004 0809/3130/2004 Principal And Interest Constant ~~595~~604,~~879~~515.9306 ~~234~~241,~~509~~485.6183 ~~333~~322,~~921~~680.1202 Scheduled Principal 0.00 17,~~475~~374.3124 ~~106~~93,~~400~~502.6768 Unscheduled Principal 2,~~121~~718,~~077~~920.4232 ~~938~~1,~~983~~632,984.2696 2,~~394~~484,~~342~~668.7889 Scheduled Interest ~~595~~604,~~879~~515.9306 ~~217~~224,~~034~~111.3059 ~~227~~229,~~520~~177.4534 Servicing Fees 16,~~410~~289.2735 4,~~824~~781.8581 2221,~~681~~899.0960 Master Servicing Fees ~~444~~440.7029 ~~154~~152.7778 ~~151~~145.2199 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 5049,~~295~~753.0511 17,~~309~~055.1024 1,~~349~~347.9053 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 ~~528~~538,~~729~~032.9131 ~~194~~202,~~745~~121.5876 ~~203~~205,~~338~~784.2522 Realized Loss Amount 0.00 0.00 0.00 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 23.~~972383~~055035 3.~~145806~~307542 3.~~361914~~523766

Group Level Collateral Statement Group Group 4 Group 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~031013~~141803 4.~~734485~~734490 3.~~535272~~645104 Weighted Average Net Rate 3.~~656013~~766803 4.~~359485~~359490 3.~~368966~~479698 Weighted Average Maturity ~~341~~ 340 ~~319~~339 318 Beginning Loan Count 6259 38 1,~~317~~300 Loans Paid In Full 3 02 1725 Ending Loan Count 5956 3836 1,~~300~~275 Beginning Scheduled Balance 2322,~~017~~346,~~785~~622.3602 11,~~600~~585,~~518~~657.2856 ~~394~~388,~~942~~678,~~478~~175.8737 Ending scheduled Balance 2220,~~346~~763,~~622~~730.0207 11,~~585~~199,~~657~~827.5653 ~~388~~379,~~678~~762,~~175~~002.3730 Record Date 0809/3130/2004 0809/3130/2004 0809/3130/2004 Principal And Interest Constant ~~110~~107,~~363~~379.4906 59,856.29 1,~~334~~335,~~530~~916.4426 Scheduled Principal 3330,~~042~~249.6763 14,~~087~~146.5614 ~~171~~155,~~006~~272.2169 Unscheduled Principal ~~638~~1,~~120~~552,642.6732 ~~773~~371,683.1689 68,~~093~~760,~~297~~900.2938 Scheduled Interest 77,~~320~~129.8243 45,~~768~~710.7315 1,~~163~~180,~~524~~643.2357 Servicing Fees 76,~~193~~983.0632 3,~~625~~620.1652 5453,~~734~~574.4360 Master Servicing Fees 4746.9556 24.1714 ~~822~~809.8076 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 0.00 0.00 68,~~954~~155.0588 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 70,~~079~~099.8155 42,~~119~~065.4049 1,~~039~~058,~~012~~103.9533 Realized Loss Amount 0.00 0.00 0.00 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 3.~~653513~~764303 4.~~356985~~356990 3.~~156955~~266775

Miscellaneous Reporting Group Group 1 Group 1 Senior Percentage 90.~~923210~~832111% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 9.~~076790~~167889% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Group 2 Senior Percentage 90.~~132922~~006577% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 9.~~867078~~993423% Group 2 Sen Mez & Sub Prep Percentage 0.000000% Group Group 3 Group 3 Senior Percentage 84.~~650078~~125625% Group 3 Senior Prepayment Percentage 100.000000% Group 3 Sen Mez & Sub Percentage 15.~~349922~~874375% Group 3 Sen Mez & Sub Prep Percentage 0.000000%

Miscellaneous Reporting Group Group 4 Group 4 Senior Percentage 86.~~942574~~569711% Group 4 Senior Prepayment Percentage 100.000000% Group 4 Sen Mez & Sub Percentage 13.~~057426~~430289% Group 4 Sen Mez & Sub Prep Percentage 0.000000% Group Group 5 Group 5 Senior Percentage 85.~~402043~~401069% Group 5 Senior Prepayment Percentage 100.000000% Group 5 Sen Mez & Sub Percentage 14.~~597957~~598931% Group 5 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2003-AR1