8-K 1 sam04ar1_dec.txt DECEMBER 8K 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): December 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 December 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 December 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: 12/21/2004 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 December 20, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 911/30/042004 Distribution Date: 1012/1920/042004 ~~SAM~~Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates 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 2.~~16125~~48000% ~~465~~448,~~025~~529,~~886~~760.0247 ~~837~~926,~~531~~961.0050 810,~~300~~643,~~185~~713.0456 I-A-2 86359LAQ2 SEN 2.~~16125~~48000% 9188,~~505~~119,~~906~~117.3627 ~~164~~182,~~805~~112.9584 12,~~704~~185,~~095~~241.6719 I-A-3 86359LAR0 SEN 2.~~16125~~48000% 3,967,700.00 78,~~145~~199.9991 0.00 II-A-1 86359LAS8 SEN 3.~~37779~~61063% 8583,~~722~~545,~~183~~929.5178 ~~241~~251,~~293~~378.1417 1,~~318~~122,~~034~~233.2567 X 86359LAT6 SEN 10.~~02644~~90851% 0.00 ~~526~~450,~~870~~611.2234 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 2.~~26125~~58000% 31,~~361~~360,~~102~~969.0027 5967,~~096~~426.08 7062.7776 B-1 86359LAY5 SUB 2.~~41125~~73000% 11,473,~~454~~405.3983 2326,~~054~~102.4700 2522.8996 B-2 86359LAZ2 SUB 3.~~01125~~33000% 8,413,~~893~~857.2261 2123,~~113~~348.6145 1816.9984 B-3 86359LBA6 SUB 3.~~51125~~83000% 5,736,~~827~~802.1991 1618,~~786~~309.2096 1211.9548 B-4 86359LBB4 SUB 3.~~23831~~44291% 2,677,~~166~~154.0269 7,~~224~~681.5800 65.0436 B-5 86359LBC2 SUB 3.~~23831~~44291% 2,294,~~670~~661.8817 6,~~192~~583.3859 54.1859 B-6 86359LBD0 SUB 3.~~23831~~44291% 4,971,~~979~~958.9086 1314,~~417~~265.3500 119.2295 Totals ~~713~~691,~~150~~091,~~769~~317.4986 1,~~924~~982,~~530~~979.9784 1113,~~322~~951,~~466~~322.0036

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 ~~456~~437,~~725~~886,~~700~~046.9891 911,~~137~~570,~~716~~675.0406 0.00 I-A-2 0.00 8985,~~801~~933,~~810~~876.6908 12,~~868~~367,~~901~~354.6203 0.00 I-A-3 0.00 3,967,700.00 78,~~145~~199.9991 0.00 II-A-1 0.00 8482,~~404~~423,~~149~~696.2612 1,~~559~~373,~~327~~611.3984 0.00 X 0.00 0.00 ~~526~~450,~~870~~611.2234 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~~360,~~031~~906.2251 5967,~~166~~488.8584 0.00 B-1 0.00 11,473,~~428~~382.5087 2326,~~080~~124.3696 0.00 B-2 0.00 8,413,~~874~~840.2377 2123,~~132~~365.6029 0.00 B-3 0.00 5,736,~~814~~791.2543 1618,~~799~~321.1544 0.00 B-4 0.00 2,677,~~159~~149.9834 7,~~230~~686.6236 0.00 B-5 0.00 2,294,~~665~~656.7057 6,~~197~~588.5618 0.00 B-6 0.00 4,971,~~968~~948.6891 1314,~~428~~274.5795 0.00 Totals 0.00 ~~701~~677,~~828~~139,~~303~~995.4951 1315,~~246~~934,~~996~~302.9720 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 ~~465~~448,~~025~~529,~~886~~760.0247 0.00 810,~~300~~643,~~185~~713.0456 0.00 0.00 I-A-2 99,189,300.00 9188,~~505~~119,~~906~~117.3627 0.00 12,~~704~~185,~~095~~241.6719 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 8583,~~722~~545,~~183~~929.5178 1,~~461~~263.8339 1,~~316~~120,~~572~~970.4228 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~~360,~~102~~969.0027 7062.7776 0.00 0.00 0.00 B-1 11,473,600.00 11,473,~~454~~405.3983 2522.8996 0.00 0.00 0.00 B-2 8,414,000.00 8,413,~~893~~857.2261 1816.9984 0.00 0.00 0.00 B-3 5,736,900.00 5,736,~~827~~802.1991 1211.9548 0.00 0.00 0.00 B-4 2,677,200.00 2,677,~~166~~154.0269 65.0436 0.00 0.00 0.00 B-5 2,294,700.00 2,294,~~670~~661.8817 54.1859 0.00 0.00 0.00 B-6 4,972,043.00 4,971,~~979~~958.9086 119.2295 0.00 0.00 0.00 Totals 764,912,193.00 ~~713~~691,~~150~~091,~~769~~317.4986 1,~~612~~397.8733 1113,~~320~~949,~~853~~925.1303 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-1 810,~~300~~643,~~185~~713.0456 ~~456~~437,~~725~~886,~~700~~046.9891 0.~~90899804~~87150243 810,~~300~~643,~~185~~713.0456 I-A-2 12,~~704~~185,~~095~~241.6719 8985,~~801~~933,~~810~~876.6908 0.~~90535784~~86636236 12,~~704~~185,~~095~~241.6719 I-A-3 0.00 3,967,700.00 1.00000000 0.00 II-A-1 1,~~318~~122,~~034~~233.2567 8482,~~404~~423,~~149~~696.2612 0.~~91370709~~89226793 1,~~318~~122,~~034~~233.2567 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 7062.7776 31,~~361~~360,~~031~~906.2251 0.~~99998505~~99998108 7062.7776 B-1 2522.8996 11,473,~~428~~382.5087 0.~~99998505~~99998108 2522.8996 B-2 1816.9984 8,413,~~874~~840.2377 0.~~99998505~~99998108 1816.9984 B-3 1211.9548 5,736,~~814~~791.2543 0.~~99998505~~99998108 1211.9548 B-4 65.0436 2,677,~~159~~149.9834 0.~~99998505~~99998108 65.0436 B-5 54.1859 2,294,~~665~~656.7057 0.~~99998505~~99998107 54.1859 B-6 119.2295 4,971,~~968~~948.6891 0.~~99998505~~99998108 119.2295 Totals 1113,~~322~~951,~~466~~322.0036 ~~701~~677,~~828~~139,~~303~~995.4951 0.~~91752793~~88525193 1113,~~322~~951,~~466~~322.0036

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 ~~925~~892.~~51747682~~68607333 0.00000000 1621.~~51943805~~18364421 0.00000000 I-A-2 99,189,300.00 ~~922~~888.~~53807981~~39337781 0.00000000 1722.~~18023688~~03101736 0.00000000 I-A-3 3,967,700.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-1 92,375,500.00 ~~927~~904.~~97531283~~41653664 0.~~01582487~~01367668 1412.~~25239831~~13493058 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 31,361,500.00 999.~~98730928~~98307702 0.~~00225659~~00200118 0.00000000 0.00000000 B-1 11,473,600.00 999.~~98730913~~98307680 0.~~00225648~~00200112 0.00000000 0.00000000 B-2 8,414,000.00 999.~~98730925~~98307701 0.~~00225695~~00200143 0.00000000 0.00000000 B-3 5,736,900.00 999.~~98730848~~98307623 0.~~00225732~~00200108 0.00000000 0.00000000 B-4 2,677,200.00 999.~~98730763~~98307560 0.~~00225609~~00200209 0.00000000 0.00000000 B-5 2,294,700.00 999.~~98730989~~98307840 0.~~00225738~~00200026 0.00000000 0.00000000 B-6 4,972,043.00 999.~~98730904~~98307738 0.~~00225662~~00200119 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 1621.~~51943805~~18364421 ~~908~~871.~~99803877~~50242912 0.~~90899804~~87150243 1621.~~51943805~~18364421 I-A-2 0.00000000 1722.~~18023688~~03101736 ~~905~~866.~~35784293~~36236046 0.~~90535784~~86636236 1722.~~18023688~~03101736 I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-1 0.00000000 1412.~~26822318~~14860726 ~~913~~892.~~70708965~~26792948 0.~~91370709~~89226793 1412.~~26822318~~14860726 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.~~00225659~~00200118 999.~~98505237~~98107584 0.~~99998505~~99998108 0.~~00225659~~00200118 B-1 0.00000000 0.~~00225648~~00200112 999.~~98505264~~98107569 0.~~99998505~~99998108 0.~~00225648~~00200112 B-2 0.00000000 0.~~00225695~~00200143 999.~~98505229~~98107559 0.~~99998505~~99998108 0.~~00225695~~00200143 B-3 0.00000000 0.~~00225732~~00200108 999.~~98505290~~98107515 0.~~99998505~~99998108 0.~~00225732~~00200108 B-4 0.00000000 0.~~00225609~~00200209 999.~~98505155~~98107724 0.~~99998505~~99998108 0.~~00225609~~00200209 B-5 0.00000000 0.~~00225738~~00200026 999.~~98505251~~98107378 0.~~99998505~~99998107 0.~~00225738~~00200026 B-6 0.00000000 0.~~00225662~~00200119 999.~~98505242~~98107619 0.~~99998505~~99998108 0.~~00225662~~00200119 (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 2.~~16125~~48000% ~~465~~448,~~025~~529,~~886~~760.0247 ~~837~~926,~~531~~961.0050 0.00 0.00 I-A-2 99,189,300.00 2.~~16125~~48000% 9188,~~505~~119,~~906~~117.3627 ~~164~~182,~~805~~112.9584 0.00 0.00 I-A-3 3,967,700.00 2.~~16125~~48000% 3,967,700.00 78,~~145~~199.9991 0.00 0.00 II-A-1 92,375,500.00 3.~~37779~~61063% 8583,~~722~~545,~~183~~929.5178 ~~241~~251,~~293~~378.1417 0.00 0.00 X 0.00 10.~~02644~~90851% ~~617~~597,~~484~~601,~~769~~613.1837 ~~528~~452,~~175~~438.0588 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 2.~~26125~~58000% 31,~~361~~360,~~102~~969.0027 5967,~~096~~426.08 0.00 0.00 B-1 11,473,600.00 2.~~41125~~73000% 11,473,~~454~~405.3983 2326,~~054~~102.4700 0.00 0.00 B-2 8,414,000.00 3.~~01125~~33000% 8,413,~~893~~857.2261 2123,~~113~~348.6145 0.00 0.00 B-3 5,736,900.00 3.~~51125~~83000% 5,736,~~827~~802.1991 1618,~~786~~309.2096 0.00 0.00 B-4 2,677,200.00 3.~~23831~~44291% 2,677,~~166~~154.0269 7,~~224~~681.5800 0.00 0.00 B-5 2,294,700.00 3.~~23831~~44291% 2,294,~~670~~661.8817 6,~~192~~583.3859 0.00 0.00 B-6 4,972,043.00 3.~~23831~~44291% 4,971,~~979~~958.9086 1314,~~417~~265.3500 0.00 0.00 Totals 764,912,193.00 1,~~925~~984,~~835~~807.8038 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.~~01)~~00 0.00 ~~837~~926,~~531~~961.0050 0.00 ~~456~~437,~~725~~886,~~700~~046.9891 I-A-2 0.00 0.00 ~~164~~182,~~805~~112.9584 0.00 8985,~~801~~933,~~810~~876.6908 I-A-3 0.00 0.00 78,~~145~~199.9991 0.00 3,967,700.00 II-A-1 0.00 0.00 ~~241~~251,~~293~~378.1417 0.00 8482,~~404~~423,~~149~~696.2612 X 0.00 0.00 ~~526~~450,~~870~~611.2234 0.00 ~~607~~584,~~480~~772,~~359~~544.8758 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 5967,~~096~~426.08 0.00 31,~~361~~360,~~031~~906.2251 B-1 0.00 0.00 2326,~~054~~102.4700 0.00 11,473,~~428~~382.5087 B-2 0.00 0.00 2123,~~113~~348.6145 0.00 8,413,~~874~~840.2377 B-3 0.00 0.00 1618,~~786~~309.2096 0.00 5,736,~~814~~791.2543 B-4 0.00 0.00 7,~~224~~681.5800 0.00 2,677,~~159~~149.9834 B-5 0.00 0.00 6,~~192~~583.3859 0.00 2,294,~~665~~656.7057 B-6 0.00 0.00 1314,~~417~~265.3500 0.00 4,971,~~968~~948.6891 Totals (0.~~01)~~00 0.00 1,~~924~~982,~~530~~979.9784 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 2.~~16125~~48000% ~~925~~892.~~51747682~~68607333 1.~~66689555~~84488454 0.00000000 0.00000000 I-A-2 99,189,300.00 2.~~16125~~48000% ~~922~~888.~~53807981~~39337781 1.~~66152952~~83601296 0.00000000 0.00000000 I-A-3 3,967,700.00 2.~~16125~~48000% 1000.00000000 12.~~80104091~~06666583 0.00000000 0.00000000 II-A-1 92,375,500.00 3.~~37779~~61063% ~~927~~904.~~97531283~~41653664 2.~~61209022~~72126451 0.00000000 0.00000000 X 0.00 10.~~02644~~90851% ~~931~~901.~~92222367~~91410736 0.~~79713394~~68283117 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 2.~~26125~~58000% 999.~~98730928~~98307702 12.~~88435119~~14996349 0.00000000 0.00000000 B-1 11,473,600.00 2.~~41125~~73000% 999.~~98730913~~98307680 2.~~00934929~~27496165 0.00000000 0.00000000 B-2 8,414,000.00 3.~~01125~~33000% 999.~~98730925~~98307701 2.~~50934276~~77495246 0.00000000 0.00000000 B-3 5,736,900.00 3.~~51125~~83000% 999.~~98730848~~98307623 23.~~92600533~~19161219 0.00000000 0.00000000 B-4 2,677,200.00 3.~~23831~~44291% 999.~~98730763~~98307560 2.~~69855820~~86904228 0.00000000 0.00000000 B-5 2,294,700.00 3.~~23831~~44291% 999.~~98730989~~98307840 2.~~69855755~~86904170 0.00000000 0.00000000 B-6 4,972,043.00 3.~~23831~~44291% 999.~~98730904~~98307738 2.~~69855872~~86904196 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.~~00000002)~~00000000 0.00000000 1.~~66689555~~84488454 0.00000000 ~~908~~871.~~99803877~~50242912 I-A-2 0.00000000 0.00000000 1.~~66152952~~83601296 0.00000000 ~~905~~866.~~35784293~~36236046 I-A-3 0.00000000 0.00000000 12.~~80104091~~06666583 0.00000000 1000.00000000 II-A-1 0.00000000 0.00000000 2.~~61209022~~72126451 0.00000000 ~~913~~892.~~70708965~~26792948 X 0.00000000 0.00000000 0.~~79516466~~68007300 0.00000000 ~~916~~882.~~82333891~~55218151 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.~~88435119~~14996349 0.00000000 999.~~98505237~~98107584 B-1 0.00000000 0.00000000 2.~~00934929~~27496165 0.00000000 999.~~98505264~~98107569 B-2 0.00000000 0.00000000 2.~~50934276~~77495246 0.00000000 999.~~98505229~~98107559 B-3 0.00000000 0.00000000 23.~~92600533~~19161219 0.00000000 999.~~98505290~~98107515 B-4 0.00000000 0.00000000 2.~~69855820~~86904228 0.00000000 999.~~98505155~~98107724 B-5 0.00000000 0.00000000 2.~~69855755~~86904170 0.00000000 999.~~98505251~~98107378 B-6 0.00000000 0.00000000 2.~~69855872~~86904196 0.00000000 999.~~98505242~~98107619 (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 10.~~05579~~93733% ~~560~~540,~~499~~616,~~492~~577.3874 ~~550~~527,~~495~~787,~~211~~622.6799 0.00 0.00 9087.~~89980388~~15024291% X 0.~~73776~~63510% 56,985,~~276~~035.8063 56,~~985~~984,~~148~~921.2059 0.00 0.00 99.~~99850525~~99810759%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1316,~~475~~158,~~224~~675.1932 Liquidations, Insurance Proceeds, Reserve Funds 023.0002 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2223,~~685~~128.6717 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1316,~~497~~181,~~909~~826.8651 Withdrawals Reimbursement for Servicer Advances 2124,~~150~~789.3589 Payment of Service Fee ~~229~~222,~~762~~734.5442 Payment of Interest and Principal 1315,~~246~~934,~~996~~302.9720 Total Withdrawals (Pool Distribution Amount) 1316,~~497~~181,~~909~~826.8651 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.~~01)~~00

SERVICING FEES Gross Servicing Fee 68104,~~211~~516.6326 Master Servicing Fee 1,~~485~~439.7376 Special Servicing Fee ~~160~~116,~~065~~778.1840 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~229~~222,~~762~~734.5442

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Basis Risk Reserve Fund 5,000.00 1,~~304~~850.8355 1,~~304~~850.8355 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 10 0 0 10 ~~375,250~~0.00 0.00 0.00 ~~375,250~~0.00 30 Days 2224 01 0 0 2225 54,~~976~~874,~~900~~881.0759 0375,250.00 0.00 0.00 5,~~976~~250,~~900~~131.0759 60 Days 34 0 0 0 34 1,~~203~~525,~~946~~147.1643 0.00 0.00 0.00 1,~~203~~525,~~946~~147.1643 90 Days 01 0 0 0 01 0132,000.00 0.00 0.00 0.00 0132,000.00 120 Days 1 0 0 1 0 1 0108,000.00 0.00 ~~170,200~~0.00 0.00 ~~170~~108,~~200~~000.00 150 Days 0 10 0 0 10 0.00 ~~199,065~~0.5200 0.00 0.00 ~~199,065~~0.5200 180+ Days 0 01 01 0 02 0.00 0199,065.0052 0170,200.00 0.00 0369,265.0052 Totals 2530 2 1 0 2833 76,~~180~~640,~~846~~029.2302 574,315.52 170,200.00 0.00 7,~~925~~384,~~361~~544.7554 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.~~034459~~000000% 0.000000% 0.000000% 0.~~034459~~000000% 0.~~053467~~000000% 0.000000% 0.000000% 0.~~053467~~000000% 30 Days 0.~~758098~~850762% 0.~~000000~~035448% 0.000000% 0.000000% 0.~~758098~~886211% 0.~~851617~~719921% 0.~~000000~~055417% 0.000000% 0.000000% 0.~~851617~~775338% 60 Days 0.~~103377~~141794% 0.000000% 0.000000% 0.000000% 0.~~103377~~141794% 0.~~171544~~225233% 0.000000% 0.000000% 0.000000% 0.~~171544~~225233% 90 Days 0.~~000000~~035448% 0.000000% 0.000000% 0.000000% 0.~~000000~~035448% 0.~~000000~~019494% 0.000000% 0.000000% 0.000000% 0.~~000000~~019494% 120 Days 0.~~000000~~035448% 0.000000% 0.~~034459~~000000% 0.000000% 0.~~034459~~035448% 0.~~000000~~015949% 0.000000% 0.~~024251~~000000% 0.000000% 0.~~024251~~015949% 150 Days 0.000000% 0.~~034459~~000000% 0.000000% 0.000000% 0.~~034459~~000000% 0.000000% 0.~~028364~~000000% 0.000000% 0.000000% 0.~~028364~~000000% 180+ Days 0.000000% 0.~~000000~~035448% 0.~~000000~~035448% 0.000000% 0.~~000000~~070897% 0.000000% 0.~~000000~~029398% 0.~~000000~~025135% 0.000000% 0.~~000000~~054533% Totals 01.~~861475~~063453% 0.~~068918~~070897% 0.~~034459~~035448% 0.000000% 01.~~964852~~169798% 10.~~023160~~980597% 0.~~081831~~084815% 0.~~024251~~025135% 0.000000% 1.~~129243~~090547%

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 1922 0 0 0 1922 4,~~411~~345,~~250~~933.0771 0.00 0.00 0.00 4,~~411~~345,~~250~~933.0771 60 Days 34 0 0 0 34 1,~~203~~525,~~946~~147.1643 0.00 0.00 0.00 1,~~203~~525,~~946~~147.1643 90 Days 01 0 0 0 01 0132,000.00 0.00 0.00 0.00 0132,000.00 120 Days 1 0 0 1 0 1 0108,000.00 0.00 ~~170,200~~0.00 0.00 ~~170~~108,~~200~~000.00 150 Days 0 10 0 0 10 0.00 ~~199,065~~0.5200 0.00 0.00 ~~199,065~~0.5200 180 Days 0 01 01 0 02 0.00 0199,065.0052 0170,200.00 0.00 0369,265.0052 Totals 2228 1 1 0 2430 56,~~615~~111,~~196~~081.2314 199,065.52 170,200.00 0.00 56,~~984~~480,~~461~~346.7566 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~775194~~924758% 0.000000% 0.000000% 0.000000% 0.~~775194~~924758% 0.~~724858~~741805% 0.000000% 0.000000% 0.000000% 0.~~724858~~741805% 60 Days 0.~~122399~~168138% 0.000000% 0.000000% 0.000000% 0.~~122399~~168138% 0.~~197833~~260326% 0.000000% 0.000000% 0.000000% 0.~~197833~~260326% 90 Days 0.~~000000~~042034% 0.000000% 0.000000% 0.000000% 0.~~000000~~042034% 0.~~000000~~022531% 0.000000% 0.000000% 0.000000% 0.~~000000~~022531% 120 Days 0.~~000000~~042034% 0.000000% 0.~~040800~~000000% 0.000000% 0.~~040800~~042034% 0.~~000000~~018434% 0.000000% 0.~~027967~~000000% 0.000000% 0.~~027967~~018434% 150 Days 0.000000% 0.~~040800~~000000% 0.000000% 0.000000% 0.~~040800~~000000% 0.000000% 0.~~032711~~000000% 0.000000% 0.000000% 0.~~032711~~000000% 180 Days 0.000000% 0.~~000000~~042034% 0.~~000000~~042034% 0.000000% 0.~~000000~~084069% 0.000000% 0.~~000000~~033978% 0.~~000000~~029051% 0.000000% 0.~~000000~~063030% Totals 01.~~897593~~176965% 0.~~040800~~042034% 0.~~040800~~042034% 0.000000% 01.~~979192~~261034% 01.~~922691~~043097% 0.~~032711~~033978% 0.~~027967~~029051% 0.000000% 01.~~983369~~106126% 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 10 0 0 10 ~~375,250~~0.00 0.00 0.00 ~~375,250~~0.00 30 Days 32 01 0 0 3 1528,~~565,650~~947.0088 0375,250.00 0.00 0.00 1904,~~565,650~~197.0088 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 32 1 0 0 43 1528,~~565,650~~947.0088 375,250.00 0.00 0.00 1904,~~940,900~~197.0088 0-29 Days 0.~~221729~~000000% 0.000000% 0.000000% 0.~~221729~~000000% 0.~~402358~~000000% 0.000000% 0.000000% 0.~~402358~~000000% 30 Days 0.~~665188~~452489% 0.~~000000~~226244% 0.000000% 0.000000% 0.~~665188~~678733% 10.~~678752~~579467% 0.~~000000~~411090% 0.000000% 0.000000% 10.~~678752~~990557% 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.~~665188~~452489% 0.~~221729~~226244% 0.000000% 0.000000% 0.~~886918~~678733% 10.~~678752~~579467% 0.~~402358~~411090% 0.000000% 0.000000% 20.~~081110~~990557%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2223,~~685~~128.6717

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~624855~~829927% Weighted Average Net Coupon 3.~~510077~~648447% Weighted Average Pass-Through Rate 3.~~238240~~443175% Weighted Average Maturity(Stepdown Calculation ) ~~308~~306 Beginning Scheduled Collateral Loan Count 2,~~935~~866 Number Of Loans Paid In Full 3345 Ending Scheduled Collateral Loan Count 2,~~902~~821 Beginning Scheduled Collateral Balance ~~713~~691,~~150~~091,~~770~~318.2866 Ending Scheduled Collateral Balance ~~701~~677,~~828~~139,~~304~~996.2831 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2004 ~~701~~677,~~829~~141,~~916~~393.8261 Monthly P &I Constant 2,~~155~~207,~~836~~088.5061 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 ~~701~~677,~~828~~139,~~304~~996.2831 Scheduled Principal 1,~~612~~397.8732 Unscheduled Principal 1113,~~320~~949,~~853~~925.1303

Miscellaneous Reporting Average Loss Severity 0.000000% Senior Percentage - Group 1 90.~~611924~~300138% Senior Percentage - Group 2 90.~~635236~~414956% Senior Prepay Percentage - Group 1 100.000000% Senior Prepay Percentage - Group 2 100.000000% Subordinate Percentage - Group 1 9.~~388076~~699862% Subordinate Percentage - Group 2 9.~~364764~~585044% Subordinate Prepay Percentage - Group 1 0.000000% Subordinate Prepay Percentage - Group 2 0.000000%

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~605047~~805509 3.~~754406~~988134 3.~~624855~~829927 Weighted Average Net Rate 3.~~480855~~608770 3.~~701199~~905516 3.~~510077~~648447 Weighted Average Maturity ~~307~~305 ~~317~~315 ~~308~~306 Beginning Loan Count 2,~~481~~419 ~~454~~447 2,~~935~~866 Loans Paid In Full 3040 35 3345 Ending Loan Count 2,~~451~~379 ~~451~~442 2,~~902~~821 Beginning Scheduled Balance ~~618~~598,~~571~~688,~~456~~541.6197 9492,~~579~~402,~~313~~776.6769 ~~713~~691,~~150~~091,~~770~~318.2866 Ending scheduled Balance ~~608~~585,~~567~~859,~~175~~587.9022 9391,~~261~~280,~~128~~409.3809 ~~701~~677,~~828~~139,~~304~~996.2831 Record Date 0911/30/2004 0911/30/2004 0911/30/2004 Principal And Interest Constant 1,~~858~~898,~~315~~595.9972 ~~297~~308,~~520~~492.5189 2,~~155~~207,~~836~~088.5061 Scheduled Principal 0.00 1,~~612~~397.8732 1,~~612~~397.8732 Unscheduled Principal 1012,~~004~~828,~~280~~954.7175 1,~~316~~120,~~572~~970.4228 1113,~~320~~949,~~853~~925.1303 Scheduled Interest 1,~~858~~898,~~315~~595.9972 ~~295~~307,~~907~~095.6457 2,~~154~~205,~~223~~691.6329 Servicing Fees 6498,~~018~~154.0748 46,~~193~~361.5678 68104,~~211~~516.6326 Master Servicing Fees 1,~~288~~247.6925 ~~197~~192.0451 1,~~485~~439.7376 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 ~~134~~94,~~702~~264.7031 2522,~~362~~514.4809 ~~160~~116,~~065~~778.1840 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 1,~~658~~704,~~306~~929.5368 ~~266~~278,~~154~~027.5619 1,~~924~~982,~~461~~956.0987 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.~~217038~~417329 3.~~376906~~610634 3.~~238240~~443175

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