8-K 1 sam05ar1_10506.txt 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): June 20, 2005 STRUCTURED ASSET MORTGAGE INVESTMENTS II INC. Mortgage Pass-Through Certificates, Series 2005-AR1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115122-31 Pooling and Servicing Agreement) (Commission 54-2169502 (State or other File Number) 54-2169503 jurisdiction 54-2169504 of Incorporation) IRS EIN 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 June 20, 2005 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., Mortgage Pass-Through Certificates, Series 2005-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 2005-AR1 Trust, relating to the June 20, 2005 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 2005-AR1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/21/05 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-AR1 Trust, relating to the June 20, 2005 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 5/231/~~2005~~05 Distribution Date: 56/1920/~~2005~~05 Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Series 2005-AR1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com 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 86359LGS2 SEN 3.~~22000~~33000% ~~529~~508,~~461~~518,~~804~~246.6538 1,~~420~~410,~~722~~519.5185 ~~20,943,558.26~~ A-2 86359LGT0 SEN 2.~~15860~~32689% ~~207~~199,~~971~~325,~~087~~804.77 ~~374~~386,~~104~~338.5860 ~~8,645,283.00~~ M 86359LGZ6 MEZ 3.~~43000~~54000% 12,670,~~463~~235.6312 3637,~~216~~360.4182 ~~228.51~~ B-1 86359LHA0 SUB 3.~~48000~~59000% 19,209,~~941~~595.6318 5557,~~708~~443.8353 ~~346.45~~ B-2 86359LHB8 SUB 3.~~68000~~79000% 13,~~079~~078,~~156~~920.0012 4041,~~109~~289.4149 ~~235.88~~ B-3 86359LHC6 SUB 4.~~38000~~49000% 9,809,~~417~~240.0009 3536,~~804~~686.3783 ~~176.91~~ B-4 86359LHD4 SUB 4.~~36919~~61071% 4,~~496~~495,~~016~~935.1304 1617,~~369~~266.9697 ~~81.09~~ B-5 86359LHE2 SUB 4.~~36919~~61071% 2,861,~~146~~095.6202 10,~~417~~988.4124 ~~51.60~~ B-6 86359LHF9 SUB 4.~~36919~~61071% 7,~~357~~356,~~084~~952.7507 2628,~~787~~254.0991 ~~132.69~~ X-1 86359LGU7 SEN 1.~~27847~~43363% 0.00 ~~622~~672,~~345~~661.2002 ~~0.00~~ X-2 86359LGV5 SEN 1.73000% 0.00 ~~299~~287,~~824~~235.9846 ~~0.00~~ R-1 86359LGW3 RES 40.~~65335~~00000% 0.00 0.00 ~~0.00~~ R-2 86359LGX1 RES 40.~~65335~~00000% 0.00 0.00 ~~0.00~~ R-3 86359LGY9 RES 40.~~65335~~00000% 0.00 0.~~92 0.~~00 Totals ~~806~~777,~~916~~326,~~118~~023.1879 2,~~938~~986,~~411~~045.~~67 29,590,094.39~~72

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1 25,867,449.27 0.00 ~~508~~482,~~518~~650,~~246~~797.3811 2227,~~364~~277,~~280~~969.7712 0.00 A-2 11,567,135.73 0.00 ~~199~~187,~~325~~758,~~804~~669.7703 911,~~019~~953,~~387~~474.5833 0.00 M 197.99 0.00 12,670,~~235~~037.1213 3637,~~444~~558.9281 0.00 B-1 300.18 0.00 19,209,~~595~~295.1800 5657,~~055~~743.2871 0.00 B-2 204.38 0.00 13,078,~~920~~715.1274 4041,~~345~~493.2987 0.00 B-3 153.28 0.00 9,809,~~240~~086.0981 3536,~~981~~840.2811 0.00 B-4 70.26 0.00 4,495,~~935~~864.0478 1617,~~451~~337.0523 0.00 B-5 44.71 0.00 2,861,~~095~~050.0231 1011,~~469~~032.0195 0.00 B-6 114.96 0.00 7,356,~~952~~837.0710 2628,~~919~~369.7887 0.00 X-1 0.00 0.00 ~~622~~0.00 672,~~345~~661.2002 0.00 X-2 0.00 0.00 ~~299~~0.00 287,~~824~~235.9846 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.9200 0.00 0.00 Totals 37,435,670.76 0.00 ~~777~~739,~~326~~890,~~023~~353.7901 3240,~~528~~421,~~506~~716.0648 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-1 536,229,300.00 ~~529~~508,~~461~~518,~~804~~246.6538 ~~133~~134.89 20 25,~~943~~867,~~424~~315.3707 0.00 0.00 A-2 211,745,300.00 ~~207~~199,~~971~~325,~~087~~804.77 1310,~~116~~870.8349 811,~~632~~556,~~166~~265.1724 0.00 0.00 M 12,670,700.00 12,670,~~463~~235.6312 ~~228~~197.5199 0.00 0.00 0.00 B-1 19,210,300.00 19,209,~~941~~595.6318 ~~346~~300.4518 0.00 0.00 0.00 B-2 13,079,400.00 13,~~079~~078,~~156~~920.0012 ~~235~~204.8838 0.00 0.00 0.00 B-3 9,809,600.00 9,809,~~417~~240.0009 ~~176~~153.9128 0.00 0.00 0.00 B-4 4,496,100.00 4,~~496~~495,~~016~~935.1304 8170.0926 0.00 0.00 0.00 B-5 2,861,200.00 2,861,~~146~~095.6202 5144.6071 0.00 0.00 0.00 B-6 7,357,222.00 7,~~357~~356,~~084~~952.7507 ~~132~~114.6996 0.00 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 817,459,272.00 ~~806~~777,~~916~~326,~~118~~023.1879 1412,~~503~~090.8545 2937,~~575~~423,~~590~~580.5431 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 2025,~~943~~867,~~558~~449.2627 ~~508~~482,~~518~~650,~~246~~797.3811 0.~~94832238~~90008285 2025,~~943~~867,~~558~~449.2627 A-2 811,~~645~~567,~~283~~135.0073 ~~199~~187,~~325~~758,~~804~~669.7703 0.~~94134701~~88671942 811,~~645~~567,~~283~~135.0073 M ~~228~~197.5199 12,670,~~235~~037.1213 0.~~99996331~~99994768 ~~228~~197.5199 B-1 ~~346~~300.4518 19,209,~~595~~295.1800 0.~~99996331~~99994768 ~~346~~300.4518 B-2 ~~235~~204.8838 13,078,~~920~~715.1274 0.~~99996331~~99994768 ~~235~~204.8838 B-3 ~~176~~153.9128 9,809,~~240~~086.0981 0.~~99996331~~99994768 ~~176~~153.9128 B-4 8170.0926 4,495,~~935~~864.0478 0.~~99996331~~99994768 8170.0926 B-5 5144.6071 2,861,~~095~~050.0231 0.~~99996331~~99994768 5144.6071 B-6 ~~132~~114.6996 7,356,~~952~~837.0710 0.~~99996331~~99994768 ~~132~~114.6996 X-1 0.00 0.00 0.00000000 0.00 X-2 0.00 0.00 0.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 2937,~~590~~435,~~094~~670.3976 ~~777~~739,~~326~~890,~~023~~353.7901 0.~~95090490~~90510974 2937,~~590~~435,~~094~~670.3976

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 536,229,300.00 ~~987~~948.~~37947488~~32238071 0.~~00024969~~00025027 3948.~~05684447~~23927948 0.00000000 A-2 211,745,300.00 ~~982~~941.~~17569774~~34700874 0.~~06194626~~05133757 4054.~~76674273~~57625383 0.00000000 M 12,670,700.00 999.~~98134515~~96331063 0.~~01803452~~01562581 0.00000000 0.00000000 B-1 19,210,300.00 999.~~98134490~~96331031 0.~~01803460~~01562599 0.00000000 0.00000000 B-2 13,079,400.00 999.~~98134471~~96331024 0.~~01803447~~01562610 0.00000000 0.00000000 B-3 9,809,600.00 999.~~98134481~~96331043 0.~~01803437~~01562551 0.00000000 0.00000000 B-4 4,496,100.00 999.~~98134606~~96331042 0.~~01803563~~01562688 0.00000000 0.00000000 B-5 2,861,200.00 999.~~98134349~~96330910 0.~~01803439~~01562631 0.00000000 0.00000000 B-6 7,357,222.00 999.~~98134486~~96331088 0.~~01803534~~01562546 0.00000000 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 0.00000000 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 A-1 0.00000000 3948.~~05709416~~23952975 ~~948~~900.~~32238071~~08285096 0.~~94832238~~90008285 3948.~~05709416~~23952975 A-2 0.00000000 4054.~~82868900~~62759140 ~~941~~886.~~34700874~~71941729 0.~~94134701~~88671942 4054.~~82868900~~62759140 M 0.00000000 0.~~01803452~~01562581 999.~~96331063~~94768482 0.~~99996331~~99994768 0.~~01803452~~01562581 B-1 0.00000000 0.~~01803460~~01562599 999.~~96331031~~94768432 0.~~99996331~~99994768 0.~~01803460~~01562599 B-2 0.00000000 0.~~01803447~~01562610 999.~~96331024~~94768414 0.~~99996331~~99994768 0.~~01803447~~01562610 B-3 0.00000000 0.~~01803437~~01562551 999.~~96331043~~94768492 0.~~99996331~~99994768 0.~~01803437~~01562551 B-4 0.00000000 0.~~01803563~~01562688 999.~~96331042~~94768355 0.~~99996331~~99994768 0.~~01803563~~01562688 B-5 0.00000000 0.~~01803439~~01562631 999.~~96330910~~94768279 0.~~99996331~~99994768 0.~~01803439~~01562631 B-6 0.00000000 0.~~01803534~~01562546 999.~~96331088~~94768406 0.~~99996331~~99994768 0.~~01803534~~01562546 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 536,229,300.00 3.~~22000~~33000% ~~529~~508,~~461~~518,~~804~~246.6538 1,~~420~~411,~~722~~138.5113 0.00 0.00 A-2 211,745,300.00 2.~~15860~~32689% ~~207~~199,~~971~~325,~~087~~804.77 ~~374~~386,~~104~~507.5895 0.00 0.00 M 12,670,700.00 3.~~43000~~54000% 12,670,~~463~~235.6312 3637,~~216~~377.4119 0.00 0.00 B-1 19,210,300.00 3.~~48000~~59000% 19,209,~~941~~595.6318 5557,~~708~~468.8371 0.00 0.00 B-2 13,079,400.00 3.~~68000~~79000% 13,~~079~~078,~~156~~920.0012 4041,~~109~~307.4159 0.00 0.00 B-3 9,809,600.00 4.~~38000~~49000% 9,809,~~417~~240.0009 3536,~~804~~702.3791 0.00 0.00 B-4 4,496,100.00 4.~~36919~~61071% 4,~~496~~495,~~016~~935.1304 1617,~~369~~274.9654 0.00 0.00 B-5 2,861,200.00 4.~~36919~~61071% 2,861,~~146~~095.6202 10,~~417~~993.4106 0.00 0.00 B-6 7,357,222.00 4.~~36919~~61071% 7,~~357~~356,~~084~~952.7507 2628,~~787~~267.0930 0.00 0.00 X-1 0.00 1.~~27847~~43363% ~~584~~563,~~230~~286,~~782~~236.9289 ~~622~~672,~~433~~955.5587 0.00 0.00 X-2 0.00 1.73000% ~~207~~199,~~971~~325,~~087~~804.77 ~~299~~287,~~824~~361.9837 0.00 0.00 R-1 50.00 40.~~65335~~00000% 0.00 0.00 0.00 0.00 R-2 50.00 40.~~65335~~00000% 0.00 0.00 0.00 0.00 R-3 50.00 40.~~65335~~00000% 0.00 0.00 0.00 0.00 Totals 817,459,272.00 2,~~938~~987,~~499~~354.1062 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 0618.0028 0.00 1,~~420~~410,~~722~~519.5185 0.00 ~~508~~482,~~518~~650,~~246~~797.3811 A-2 0169.0035 0.00 ~~374~~386,~~104~~338.5860 0.00 ~~199~~187,~~325~~758,~~804~~669.7703 M 016.0038 0.00 3637,~~216~~360.4182 0.00 12,670,~~235~~037.1213 B-1 025.0018 0.00 5557,~~708~~443.8353 0.00 19,209,~~595~~295.1800 B-2 018.0010 0.00 4041,~~109~~289.4149 0.00 13,078,~~920~~715.1274 B-3 016.0008 0.00 3536,~~804~~686.3783 0.00 9,809,~~240~~086.0981 B-4 07.0057 0.00 1617,~~369~~266.9697 0.00 4,495,~~935~~864.0478 B-5 04.0082 0.00 10,~~417~~988.4124 0.00 2,861,~~095~~050.0231 B-6 012.0039 0.00 2628,~~787~~254.0991 0.00 7,356,~~952~~837.0710 X-1 0294.0085 0.00 ~~622~~672,~~345~~661.2002 0.00 ~~563~~537,~~286~~417,~~236~~931.8979 X-2 0125.0091 0.00 ~~299~~287,~~824~~235.9846 0.00 ~~199~~187,~~325~~758,~~804~~669.7703 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.9200 0.00 0.00 Totals 01,308.0091 0.00 2,~~938~~986,~~411~~045.6772 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-1 536,229,300.00 3.~~22000~~33000% ~~987~~948.~~37947488~~32238071 2.~~64946826~~63159460 0.00000000 0.00000000 A-2 211,745,300.00 2.~~15860~~32689% ~~982~~941.~~17569774~~34700874 1.~~76676687~~82534370 0.00000000 0.00000000 M 12,670,700.00 3.~~43000~~54000% 999.~~98134515~~96331063 2.~~85828013~~94989148 0.00000000 0.00000000 B-1 19,210,300.00 3.~~48000~~59000% 999.~~98134490~~96331031 2.~~89994586~~99155713 0.00000000 0.00000000 B-2 13,079,400.00 3.~~68000~~79000% 999.~~98134471~~96331024 3.~~06660932~~15821750 0.00000000 0.00000000 B-3 9,809,600.00 4.~~38000~~49000% 999.~~98134481~~96331043 3.~~64993170~~74152973 0.00000000 0.00000000 B-4 4,496,100.00 4.~~36919~~61071% 999.~~98134606~~96331042 3.~~64092436~~84211650 0.00000000 0.00000000 B-5 2,861,200.00 4.~~36919~~61071% 999.~~98134349~~96330910 3.~~64092339~~84211520 0.00000000 0.00000000 B-6 7,357,222.00 4.~~36919~~61071% 999.~~98134486~~96331088 3.~~64092452~~84211595 0.00000000 0.00000000 X-1 0.00 1.~~27847~~43363% ~~988~~953.~~54733486~~10812871 1.~~05318830~~13867456 0.00000000 0.00000000 X-2 0.00 1.73000% ~~982~~941.~~17569774~~34700874 1.~~41596994~~35710861 0.00000000 0.00000000 R-1 50.00 40.~~65335~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 40.~~65335~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 40.~~65335~~00000% 0.00000000 0.00000000 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 A-1 0.~~00000000~~00115301 0.00000000 2.~~64946826~~63044159 0.00000000 ~~948~~900.~~32238071~~08285096 A-2 0.~~00000000~~00079978 0.00000000 1.~~76676687~~82454392 0.00000000 ~~941~~886.~~34700874~~71941729 M 0.~~00000000~~00129275 0.00000000 2.~~85828013~~94859952 0.00000000 999.~~96331063~~94768482 B-1 0.~~00000000~~00131076 0.00000000 2.~~89994586~~99024638 0.00000000 999.~~96331031~~94768432 B-2 0.~~00000000~~00138386 0.00000000 3.~~06660932~~15683365 0.00000000 999.~~96331024~~94768414 B-3 0.~~00000000~~00163921 0.00000000 3.~~64993170~~73989052 0.00000000 999.~~96331043~~94768492 B-4 0.~~00000000~~00168368 0.00000000 3.~~64092436~~84043282 0.00000000 999.~~96331042~~94768355 B-5 0.~~00000000~~00168461 0.00000000 3.~~64092339~~84043059 0.00000000 999.~~96330910~~94768279 B-6 0.~~00000000~~00168406 0.00000000 3.~~64092452~~84043189 0.00000000 999.~~96331088~~94768406 X-1 0.~~00000000~~00049890 0.00000000 1.~~05303881~~13817566 0.00000000 ~~953~~909.~~10812871~~33767906 X-2 0.~~00000000~~00059463 0.00000000 1.~~41596994~~35651398 0.00000000 ~~941~~886.~~34700874~~71941729 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 180.~~40000000~~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 3240,~~790~~600,~~484~~889.3525 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~744~~59,605.6619 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 3240,~~791~~660,~~229~~494.0144 Withdrawals Reimbursement for Servicer Advances ~~15,859~~744.5266 Payment of Service Fee ~~246~~238,~~863~~033.4330 Payment of Interest and Principal 3240,~~528~~421,~~506~~716.0648 Total Withdrawals (Pool Distribution Amount) 3240,~~791~~660,~~229~~494.0144 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 01,308.0091 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 01,308.0091

SERVICING FEES Gross Servicing Fee ~~103~~99,~~613~~615.6987 Additional Servicing Fee ~~141~~136,~~568~~798.6700 Master Servicing Fee 1,~~681~~619.0743 Miscellaneous Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~246~~238,~~863~~033.4330

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Carryover Shortfall Reserve Fund 5,000.00 880.3500 880.3500 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 045 0 0 0 045 011,900,346.0063 0.00 0.00 0.00 011,900,346.0063 60 Days 18 0 0 0 18 ~~204~~1,~~250~~948,785.0094 0.00 0.00 0.00 ~~204~~1,~~250~~948,785.0094 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 153 0 0 0 153 ~~204~~13,~~250~~849,132.0057 0.00 0.00 0.00 ~~204~~13,~~250~~849,132.0057 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 01.~~000000~~628664% 0.000000% 0.000000% 0.000000% 01.~~000000~~628664% 01.~~000000~~608377% 0.000000% 0.000000% 0.000000% 01.~~000000~~608377% 60 Days 0.~~034783~~289540% 0.000000% 0.000000% 0.000000% 0.~~034783~~289540% 0.~~026276~~263386% 0.000000% 0.000000% 0.000000% 0.~~026276~~263386% 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 01.~~034783~~918205% 0.000000% 0.000000% 0.000000% 01.~~034783~~918205% 01.~~026276~~871763% 0.000000% 0.000000% 0.000000% 01.~~026276~~871763%

Delinquency Status By Groups

~~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 039 0 0 0 039 010,292,523.0004 0.00 0.00 0.00 010,292,523.0004 60 Days 07 0 0 0 07 01,744,535.0094 0.00 0.00 0.00 01,744,535.0094 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 046 0 0 0 046 012,037,058.0098 0.00 0.00 0.00 012,037,058.0098 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~940299% 0.000000% 0.000000% 0.000000% 01.~~000000~~940299% 01.~~000000~~932995% 0.000000% 0.000000% 0.000000% 01.~~000000~~932995% 60 Days 0.~~000000~~348259% 0.000000% 0.000000% 0.000000% 0.~~000000~~348259% 0.~~000000~~327634% 0.000000% 0.000000% 0.000000% 0.~~000000~~327634% 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 02.~~000000~~288557% 0.000000% 0.000000% 0.000000% 02.~~000000~~288557% 02.~~000000~~260629% 0.000000% 0.000000% 0.000000% 02.~~000000~~260629% 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 06 0 0 0 06 01,607,823.0059 0.00 0.00 0.00 01,607,823.0059 60 Days 1 0 0 0 1 204,250.00 0.00 0.00 0.00 204,250.00 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 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 17 0 0 0 17 ~~204~~1,~~250~~812,073.0059 0.00 0.00 0.00 ~~204~~1,~~250~~812,073.0059 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~796813% 0.000000% 0.000000% 0.000000% 0.~~000000~~796813% 0.~~000000~~775106% 0.000000% 0.000000% 0.000000% 0.~~000000~~775106% 60 Days 0.~~127226~~132802% 0.000000% 0.000000% 0.000000% 0.~~127226~~132802% 0.~~093263~~098466% 0.000000% 0.000000% 0.000000% 0.~~093263~~098466% 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.~~127226~~929615% 0.000000% 0.000000% 0.000000% 0.~~127226~~929615% 0.~~093263~~873571% 0.000000% 0.000000% 0.000000% 0.~~093263~~873571%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~744~~59,605.6619

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~721873~~978834% Weighted Average Net Coupon 4.~~567784~~825052% Weighted Average Pass-Through Rate 4.~~354751~~611369% Weighted Average Maturity(Stepdown Calculation ) ~~354~~353 Beginning Scheduled Collateral Loan Count 2,~~965~~875 Number Of Loans Paid In Full 90112 Ending Scheduled Collateral Loan Count 2,~~875~~763 Beginning Scheduled Collateral Balance ~~806~~777,~~916~~326,~~117~~023.8949 Ending Scheduled Collateral Balance ~~777~~739,~~326~~890,~~023~~352.4973 Ending Actual Collateral Balance at 0231-May-2005 ~~777~~739,~~335~~897,~~903~~865.8696 Monthly P &I Constant 3,~~189~~237,~~633~~238.0718 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1412,~~503~~090.8645 Unscheduled Principal 2937,~~575~~423,~~590~~580.5431

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM 6 Month LIBOR ARM Mixed ARM Weighted Average Coupon Rate 45.~~915438~~206350 4.~~229307~~398772 4.~~721873~~978834 Weighted Average Net Rate 45.~~805913~~097121 34.~~961817~~131400 4.~~567784~~825052 Weighted Average Maturity ~~353~~352 ~~355~~ 354 353 Beginning Loan Count 2,~~152~~089 ~~813~~786 2,~~965~~875 Loans Paid In Full 6379 2733 90112 Ending Loan Count 2,~~089~~010 ~~786~~753 2,~~875~~763 Beginning Scheduled Balance ~~579~~558,~~275~~332,~~994~~423.0317 ~~227~~218,~~640~~993,~~123~~600.8632 ~~806~~777,~~916~~326,~~117~~023.8949 Ending ~~scheduled~~Scheduled Balance ~~558~~532,~~332~~464,~~423~~960.1775 ~~218~~207,~~993~~425,~~600~~391.3298 ~~777~~739,~~326~~890,~~023~~352.4973 Record Date 05/0231/2005 05/0231/2005 05/0231/2005 Principal And Interest Constant 2,~~372~~422,~~975~~542.6756 ~~816~~814,~~657~~695.4062 3,~~189~~237,~~633~~238.0718 Scheduled Principal ~~146~~147.4935 1411,~~357~~943.3710 1412,~~503~~090.8645 Unscheduled Principal 2025,~~943~~867,~~424~~315.3707 811,~~632~~556,~~166~~265.1724 2937,~~575~~423,~~590~~580.5431 Scheduled Interest 2,~~372~~422,~~829~~395.1821 802,~~300~~752.0352 3,~~175~~225,~~129~~147.2173 Servicing Fees 5250,~~870~~821.7681 5048,~~742~~794.9306 ~~103~~99,~~613~~615.6987 Master Servicing Fees 1,~~206~~163.8219 ~~474~~456.2524 1,~~681~~619.0743 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 ~~128~~123,~~152~~657.9807 13,~~415~~140.6993 ~~141~~136,~~568~~798.6700 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 2,~~190~~246,~~598~~753.6214 ~~737~~740,~~667~~361.1629 2,~~928~~987,~~265~~114.7843 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 4.~~537938~~828850 34.~~888596~~056893 4.~~354751~~611369

Miscellaneous Reporting Group Group I Average Loss Severity Percentage Gr I 0.000000% Senior Percentage Group I 91.~~400613~~078044% Senior Prepayment Percentage Group I 100.000000% Sen Mez & Sub Percentage Group I 8.~~599387~~921956% Subordinate Prepayment Percentage Gr I 0.000000% Group Group II Average Loss Severity Percentage Gr II 0.000000% Senior Percentage Group II 91.~~359592~~019009% Senior Prepayment Percentage Group II 100.000000% Sen Mez & Sub Percentage Group II 8.~~640408~~980991% Subordinate Prepayment Percentage Gr II 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS II TRUST SERIES 2005-AR1