Filename: samiaug03-8k_091103.htm Type: 8-K Comment/Description: (this header is not part of the document)
UNITED ~~STATES SECURITIES~~STATESSECURITIES AND EXCHANGE ~~COMMISSION~~ ~~Washington~~COMMISSIONWashington, D.C. ~~20549 FORM~~20549FORM 8-~~K Current~~KCurrent Report Pursuant to Section 13 or 15(d) ~~of the~~ofthe Securities Exchange Act of 1934
Date of Report (date of earliest event reported): ~~July~~ ~~30,~~August 28, 2003
STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2002-3 (Pass-Through Certificates Series 2002-3) (Exact name of registrant as specified in its charter)
Delaware (governing law of Trust ~~and~~andPooling ~~Pooling~~ Agreement) (State or other jurisdiction of Incorporation) 333-68542-01 (~~Commission~~CommissionFile ~~File~~ Number) 13-3633241 (IRS Employer ~~Identification Number~~IdentificationNumber)
383 Madison Avenue, New York, New York (Address of principal executive offices) Registrant's Telephone Number, including area code: 10179 (Zip Code) (212) 272-2000
Not Applicable (Former name or former address, if changed since last report)
ITEM 5. Other Events
On ~~July~~August 3028, 2003 a distribution was made to holders of Structured Asset Mortgage Investments Trust 2002-3 Pass-Through Certificates. The distribution was made pursuant to the provisions of a Trust and Pooling Agreement, dated as of April 1, 2002, among Structured Asset Mortgage Investments Inc., as seller, U.S. Bank National Association, as trustee, and U.S. Bank Trust National Association, as Delaware trustee.
ITEM 7. Financial Statements and Exhibits
(c)
Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit ~~Number EX~~NumberEX-99.1 ~~Description~~DescriptionMonthly ~~Monthly~~ report distributed to holders of Structured Asset Mortgage Investments Trust 2002-3 Pass-Through Certificates, relating to the ~~July~~August 3028, 2003 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 thereunto duly authorized.
STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2002-~~3 By~~3By: U.S. Bank National Association, as ~~Trustee By~~TrusteeBy: /s/ Sheryl ~~Christopherson Name~~ChristophersonName: Sheryl ~~Christopherson Title~~ChristophersonTitle: Vice President
Dated: ~~August~~ 14September 12, 2003
INDEX TO EXHIBITS
Exhibit 99.1

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                    SUPP.
                                      DISTRIBUTION     SUPP.                        DISTRIBUTION   DIST
         ORIGINAL      BEGINNING          DATE        DIST DATE        TOTAL        DATE           DATE     TOTAL      ENDING
       CERTIFICATE    CERTIFICATE      PRINCIPAL      PRINCIPAL       PRINCIPAL     REALIZED      REALIZED  REALIZED  CERTIFICATE
CLASS  FACE VALUE       BALANCE       DISTRIBUTION   DISTRIBUTION (1) DISTRIBUTION   LOSSES       LOSSES (1) LOSSES    BALANCE (2)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>               <C>             <C>           <C>            <C>          <C>       <C>     <C>
 1A     $50,000,000.00          $0.00          $0.00       $0.00            $0.00        $0.00     $0.00    $0.00           $0.00
 2A    $114,000,000.00          $0.00          $0.00       $0.00            $0.00        $0.00     $0.00    $0.00           $0.00
 3A     $61,000,000.00  $3,633,650.07  $1,940,342.07       $0.00    $1,940,342.07        $0.00     $0.00    $0.00   $1,693,308.00
 CC     $51,184,155.00 $39,301,816.64  $6,377,515.74       $0.00    $6,377,515.74        $0.00     $0.00    $0.00  $32,924,300.90
  R              $0.00          $0.00          $0.00       $0.00            $0.00        $0.00     $0.00    $0.00           $0.00
CC-1B   $22,884,163.00 $21,670,484.49  $4,459,315.65       $0.00    $4,459,315.65        $0.00     $0.00    $0.00  $17,211,168.84
CC-2B   $10,854,768.00  $7,737,418.05  $1,905,541.69       $0.00    $1,905,541.69        $0.00     $0.00    $0.00   $5,831,876.36
CC-3B    $8,661,995.00  $9,510,456.44    ($59,440.35)      $0.00      ($59,440.35)       $0.00     $0.00    $0.00   $9,569,896.79
CC-4A    $8,783,229.00    $383,457.66     $72,098.75       $0.00       $72,098.75        $0.00     $0.00    $0.00     $311,358.91
CC-IO   $65,061,437.00  $2,286,836.67          $0.00       $0.00            $0.00        $0.00     $0.00    $0.00   $2,026,252.68
------------------------------------------------------------------------------------------------------------------------------------
TOTAL  $276,184,155.00 $42,935,466.71   $8,317,857.81      $0.00    $8,317,857.81        $0.00     $0.00    $0.00  $34,617,608.90
(3)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
           DISTRIBUTION DATE    SUPP. DIST DATE     TOTAL
               INTEREST            INTEREST         INTEREST        TOTAL          INTEREST      CERTIFICATE
 CLASS        DISTRIBUTION      DISTRIBUTION (1)  DISTRIBUTION    DISTRIBUTION     SHORTFALLS       RATE
------------------------------------------------------------------------------------------------------------
<S>              <C>                  <C>        <C>             <C>                 <C>           <C>
     1A                  $0.00        $0.00             $0.00              $0.00         $0.00      6.7500%
     2A                  $0.00        $0.00             $0.00              $0.00         $0.00      7.0000%
     3A             $22,710.31        $0.00        $22,710.31      $1,963,052.38         $0.00      7.5000%
     CC            $239,208.42        $0.00       $239,208.42      $6,616,724.16     $2,288.22          N/A
     R                   $0.00        $0.00             $0.00              $0.00         $0.00          N/A
   CC-1B           $119,608.26        $0.00       $119,608.26      $4,578,923.91     $2,288.22      6.7500%
   CC-2B            $45,134.94        $0.00        $45,134.94      $1,950,676.63         $0.00      7.0000%
   CC-3B            $59,440.35        $0.00        $59,440.35              $0.00         $0.00      7.5000%
   CC-4A            $13,176.57        $0.00        $13,176.57         $85,275.32         $0.00     41.2350%
   CC-IO             $1,848.30        $0.00         $1,848.30          $1,848.30         $0.00      0.9699%
------------------------------------------------------------------------------------------------------------
TOTAL (3)          $261,918.73        $0.00       $261,918.73      $8,579,776.54     $2,288.22
------------------------------------------------------------------------------------------------------------
(1) If applicable.
(2) Class CC-1B Ending Balance includes accrual amount of             $0.00
    Class CC-2B Ending Balance includes accrual amount of             $0.00
    Class CC-3B Ending Balance includes accrual amount of        $59,440.35
(3) Totals do not include Class CC component breakout
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03

                                              AMOUNTS PER $1,000 UNIT
-------------------------------------------------------------------------------------------------------------
                                                                                                  ENDING
                                PRINCIPAL          INTEREST          TOTAL        REALIZED      CERTIFICATE
    CLASS         CUSIP         DISTRIBUTION      DISTRIBUTION    DISTRIBUTION    LOSSES         BALANCE
-------------------------------------------------------------------------------------------------------------
<S>              <C>              <C>              <C>               <C>          <C>            <C>
 lA            86358HNC9         0.00000000        0.00000000       0.00000000     0.00000000     0.00000000
 2A            86358HND7         0.00000000        0.00000000       0.00000000     0.00000000     0.00000000
 3A            86358HNE5        31.80888639        0.37230016      32.18118656     0.00000000    27.75914754
 CC            86358HNF2       124.59941441        4.67348568     129.27290009     0.00000000   643.25182080
CC-1B             N/A          194.86470403        5.22668254     200.09138657     0.00000000   752.09955636
CC-2B             N/A          175.54881781        4.15807505     179.70689286     0.00000000   537.26402628
CC-3B             N/A           -6.86220091        6.86220091       0.00000000     0.00000000  1104.81439784
CC-4A             N/A            8.20868385        1.50019657       9.70888041     0.00000000    35.44925334
CC-IO             N/A            0.00000000        0.02840853       0.02840853     0.00000000    31.14368163
  R            86358HNG0         0.00000000        0.00000000       0.00000000     0.00000000     0.00000000
-------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03

                                                    PURSUANT TO SECTION 3.06(a)
                                            OF THE POOLING AGREEMENT DATED APRIL 1,2002

<S>                                                                                      <C>
(i) Available Principal                                                                  $8,317,857.81
    Available Interest                                                                     $261,918.74

      Total Available Funds                                                              $8,579,776.55

(ii)   Amount of interest being distributed to each Class of Certificates and the
       Certificate Rates for each Class of Certificates.                                     See Page 1

(iii)  Accrual Amounts for the Class CC-1B, Class CC-2B and Class CC-3B Certificates         See Page 1

(iv)   Amount of reinvestment income distributed to the Trustee                                   $0.00

(v)    Amount of principal being distributed to each Class of Certificates                   See Page 1

(vi)   Loss Amounts allocated to each Class of Certificates                            ------------------------------------------
                                                                                       Class   Current Period    Since Issuance
                                                                                       ------------------------------------------
                                                                                       1A        $0.00               $0.00
                                                                                       2A        $0.00               $0.00
                                                                                       3A        $0.00               $0.00
                                                                                       CC        $0.00               $0.00
                                                                                       CC-lB     $0.00               $0.00
                                                                                       CC-2B     $0.00               $0.00
                                                                                       CC-3B     $0.00               $0.00
                                                                                       CC-4A     $0.00               $0.00

(vii)  Class Principal Balances for each Class of Certificates                               See Page 1

(viii) Aggregate Pooled Security Distribution Date Principal Balance as of the
       second immediately preceding Pooled Security Distribution Date                    $42,935,467.04

(ix) Aggregate Pooled Security Distribution Date Principal Balance as of the
     immediately preceding Pooled Security Distribution Date                             $34,617,609.23
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03

                                                    PURSUANT TO SECTION 3.06(b)
                                            OF THE POOLING AGREEMENT DATED MARCH 1,2001

(i)(A),(B),(C),(E),(G),(H)

CLASS A-1 AND CLASS CC-1B RELATED POOLED SECURITIES
------------------------------------------------------------------------------------------------
ISSUE
SERIES               BEGINNING      ENDING         PRINCIPAL       INTEREST        TOTAL
CERTIFICATE          BALANCE        BALANCE        DISTRIBUTED     DISTRIBUTED     DISTRIBUTED
------------------------------------------------------------------------------------------------
<S>                  <C>            <C>            <C>             <C>             <C>
AMAC98-1(1A-1-5)     $9,969,510.12  $8,289,802.00  $1,679,708.12   $56,078.49      $1,735,786.61
MRFC 98-2(A-11-2)*           $0.00          $0.00          $0.00        $0.00              $0.00
MRFC 98-2(A-11-4)   $11,701,115.03  $8,921,507.50  $2,779,607.53   $63,529.77      $2,843,137.30
------------------------------------------------------------------------------------------------
     TOTAL          $21,670,625.15 $17,211,309.50  $4,459,315.65  $119,608.26       $4,578,923.91
------------------------------------------------------------------------------------------------
* Interest is Deferred

-------------------------------------------------------------------------------------------------------
                     CURRENT
ISSUE                PERIOD        CUMULATIVE                                   STATED       EFFECTIVE
SERIES               REALIZED      REALIZED      INTEREST        INTEREST       INTEREST     INTEREST
CERTIFICATE          LOSSES        LOSSES        SHORTFALL$      SHORTFALL%     RATE         RATE
-------------------------------------------------------------------------------------------------------
AMAC98-1(1A-1-5)      $0.00         $0.00           $0.00         0.000%        6.750%        6.750%
MRFC 98-2(A-11-2)*    $0.00         $0.00           $0.00         0.000%        6.750%        0.000%
MRFC 98-2(A-11-4)     $0.00         $0.00       $2,289.00         0.235%        6.750%        6.515%
-------------------------------------------------------------------------------------------------------
     TOTAL            $0.00         $0.00       $2,289.00         0.127%                      6.623%
-------------------------------------------------------------------------------------------------------
* Interest is Deferred
</TABLE>


<TABLE>
<CAPTION>
CLASS A-2 AND CLASS CC-2B RELATED POOLED SECURITIES
------------------------------------------------------------------------------------------------------------------
                                                                                                           CURRENT
ISSUE                                                                                                       PERIOD
SERIES                      BEGINNING          ENDING       PRINCIPAL         INTEREST         TOTAL      REALIZED
CERTIFICATE                  BALANCE          BALANCE       DISTRIBUTED     DISTRIBUTED     DISTRIBUTED     LOSSES
------------------------------------------------------------------------------------------------------------------
<S>                               <C>            <C>            <C>              <C>            <C>           <C>
AMAC 98-1(1A-1-3)                $0.00            $0.00          0.00           $0.00          $0.00        $0.00
CHEMPT 94-3(A-6 PAC)     $3,099,490.65     2,962,783.01    136,707.63      $18,080.36    $154,787.99        $0.00
CHEMPT 94-3(A-6 TAC)       $315,992.72            $0.00   $315,992.72       $1,843.29    $317,836.01        $0.00
GECMS 96-6(A-12B TAC)            $0.00            $0.00          0.00           $0.00          $0.00        $0.00
GECMS 96-6(A-12C TAC)            $0.00            $0.00          0.00           $0.00          $0.00        $0.00
GECMS 97-9(1-A11 4)              $0.00            $0.00          0.00           $0.00          $0.00        $0.00
HSMS  98-2(1A-1 three)           $0.00            $0.00          0.00           $0.00          $0.00        $0.00
PHMSC 95-7(A-11B)                $0.00            $0.00          0.00           $0.00          $0.00        $0.00
PHMSC 95-7(A-11C)                $0.00            $0.00          0.00           $0.00          $0.00        $0.00
PHMSC 96-6(A-4 TAC ACC)          $0.00            $0.00          0.00           $0.00          $0.00        $0.00
PHMSC 98-1(II-A-1-2)             $0.00            $0.00          0.00           $0.00          $0.00        $0.00
PHMSC 98-1(II-A-1-5)     $4,321,935.00    $2,869,093.66 $1,452,841.34       25,211.29  $1,478,052.63        $0.00
------------------------------------------------------------------------------------------------------------------
     TOTAL               $7,737,418.37    $5,831,876.67 $1,905,541.69      $45,134.94  $1,950,676.63        $0.00
------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------
ISSUE                       CUMULATIVE                                  STATED     EFFECTIVE
SERIES                      REALIZED     INTEREST        INTEREST       INTEREST   INTEREST
CERTIFICATE                 LOSSES       SHORTFALL $     SHORTFALL %    RATE       RATE
--------------------------------------------------------------------------------------------
AMAC 98-1(1A-1-3)             $0.00          $0.00          0.000%         7.000%    0.000%
CHEMPT 94-3(A-6 PAC)          $0.00          $0.00          0.000%         7.000%    7.000%
CHEMPT 94-3(A-6 TAC)          $0.00          $0.00          0.000%         7.000%    7.000%
GECMS 96-6(A-12B TAC)         $0.00          $0.00          0.000%         7.000%    0.000%
GECMS 96-6(A-12C TAC)         $0.00          $0.00          0.000%         7.000%    0.000%
GECMS 97-9(1-A11 4)           $0.00          $0.00          0.000%         7.000%    0.000%
HSMS  98-2(1A-1 three)        $0.00          $0.00          0.000%         7.000%    0.000%
PHMSC 95-7(A-11B)             $0.00          $0.00          0.000%         7.000%    0.000%
PHMSC 95-7(A-11C)             $0.00          $0.00          0.000%         7.000%    0.000%
PHMSC 96-6(A-4 TAC ACC)       $0.00          $0.00          0.000%         7.000%    0.000%
PHMSC 98-1(II-A-1-2)          $0.00          $0.00          0.000%         7.000%    0.000%
PHMSC 98-1(II-A-1-5)          $0.00          $0.00          0.000%         7.000%    0.000%
--------------------------------------------------------------------------------------------
 TOTAL                        $0.00          $0.00          0.000%                   7.000%
--------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03

                                                    PURSUANT TO SECTION 3.06(b)
                                            OF THE POOLING AGREEMENT DATED MARCH 1,2001

(i)(A),(B),(C),(E),(G),(H)

CLASS A-3 AND CLASS CC-3B RELATED POOLED SECURITIES
-----------------------------------------------------------------------------------------------------------
                                                                                                   CURRENT
ISSUE                                                                                              PERIOD
SERIES                    BEGINNING        ENDING        PRINCIPAL      INTEREST      TOTAL        REALIZED
CERTIFICATE                BALANCE        BALANCE       DISTRIBUTED   DISTRIBUTED   DISTRIBUTED    LOSSES
-----------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>             <C>            <C>          <C>            <C>
CHEMPT 94-3(A-6 PAC)     $7,232,144.84   $6,913,160.37  $318,984.48  $45,200.91    $364,185.39       $0.00
CHEMPT 94-3(A-6 TAC)       $737,316.34           $0.00  $737,316.34   $4,608.23    $741,924.57       $0.00
PHMSC 95-7(A-11A)                $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PHMSC 96-6(A-4 TAC ACC)          $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PHMSC 98-1(II-A-1-2)             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PNCMS 95-2(A-7 T-2)      $5,174,645.34    4,350,044.44  $824,600.90  $32,341.53    $856,942.43       $0.00
SASI 95-4(A-8 ACCSCH)            $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
-----------------------------------------------------------------------------------------------------------
     Total              $13,144,106.52  $11,263,204.81$1,880,901.72  $82,150.67  $1,963,052.39      $0.00
---------------------------------------------------------------------------------

ISSUE                    CUMULATIVE                           STATED    EFFECTIVE
SERIES                    REALIZED   INTEREST    INTEREST     INTEREST   INTEREST
CERTIFICATE               LOSSES     SHORTFALL $ SHORTFALL %   RATE        RATE
----------------------------------------------------------------------------------
CHEMPT 94-3(A-6 PAC)       $0.00     $0.00        0.000%      7.500%     7.500%
CHEMPT 94-3(A-6 TAC)       $0.00     $0.00        0.000%      7.500%     7.500%
PHMSC 95-7(A-11 A)         $0.00     $0.00        0.000%      7.500%     0.000%
PHMSC 96-6(A-4 TAC ACC)    $0.00     $0.00        0.000%      7.500%     0.000%
PHMSC 98-1(II-A-1-2)       $0.00     $0.00        0.000%      7.500%     0.000%
PNCMS 95-2(A-7 T-2)        $0.00     $0.00        0.000%      7.500%     7.500%
SASI 95-4(A-8 ACCSCH)      $0.00     $0.00        0.000%      7.500%     0.000%
----------------------------------------------------------------------------------
     Total                 $0.00     $0.00        0.000%                 7.500%
----------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STRUCTURED ASSETS MORTGAGE INVESTMENT TRUST                                     ADMINISTRATOR: SHERYL CHRISTOPHERSON
PASS-THROUGH CERTIFICATES, SERIES 2002-3                                        US BANK, NA
                                                                                180 EAST FIFTH STREET
STATEMENT TO CERTIFICATEHOLDERS                                                 ST. PAUL, MN 55101
------------------------------------------------------------------------------------------------------------------------------------

DISTRIBUTION DATE:                           28-Aug-03

                                                    PURSUANT TO SECTION 3.06(b)
                                            OF THE POOLING AGREEMENT DATED MARCH 1,2001

(i) (A),(B),(C),(E),(G),(H)

CLASS CC-4A RELATED POOLED SECURITIES
-----------------------------------------------------------------------------------------------------------
                                                                                                   CURRENT
ISSUE                                                                                              PERIOD
SERIES                    BEGINNING        ENDING        PRINCIPAL      INTEREST      TOTAL        REALIZED
CERTIFICATE                BALANCE        BALANCE       DISTRIBUTED   DISTRIBUTED   DISTRIBUTED    LOSSES
-----------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>             <C>            <C>          <C>            <C>
AMAC 98-1 (1A-1-1)               $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
AMAC 98-1 (1A-1-4)         $106,509.47      $81,129.21   $25,380.26       $0.00     $25,380.26       $0.00
AMAC 98-1 (1A-1-6)**       $587,860.04     $553,679.21        $0.00   $3,306.71      $3,306.71       $0.00
GECMS 97-9 (1-A11 B PO2)         $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
HSMS 98-2 (1A-1 One)             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
HSMS 98-2 (1A-1 Four)       $17,839.91      $17,273.98      $565.93       $0.00        $565.93       $0.00
HSMS 98-2 (1A-1 Five)**    $626,683.88     $570,305.76        $0.00   $3,525.10      $3,525.10       $0.00
MRFC 98-2 (A-11-5)**    $24,978,544.18  $21,517,865.41        $0.00   $2,702.64      $2,702.64       $0.00
MRFC 98-2 (A-11-6)          $35,126.67      $16,625.78   $18,500.89       $0.00     $18,500.89       $0.00
PHMSC 96-6 (A-4 PO)              $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PHMSC 96-6 (A-4 IO B)**          $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PNCMS 95-2 (A-7 PO)        $138,005.46     $120,959.33   $17,046.13       $0.00     $17,046.13       $0.00
PNCMS 95-2 (A-7 W)**     $9,265,456.46   $8,605,554.01        $0.00     $772.12        $772.12       $0.00
PHMSC 98-1 (II-A-1-1)       $62,326.69      $51,753.15   $10,573.54       $0.00     $10,573.54       $0.00
PHMSC 98-1 (II-A-1-4)       $23,650.13      $23,618.13       $32.00       $0.00         $32.00       $0.00
PHMSC 98-1 (II-A-1-6)**    $492,000.14     $467,244.33        $0.00   $2,870.00      $2,870.00       $0.00
SASI 95-4 (A-8 PO)               $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
------------------------------------------------------------------------------------------------------------------------
     TOTAL                 $383,458.33      $311,359.58  $72,098.75  $13,176.57     $85,275.32       $0.00
---------------------------------------------------------------------------------------------------------------------
**Denotes Notional Class

---------------------------------------------------------------------------------
ISSUE                    CUMULATIVE                           STATED    EFFECTIVE
SERIES                    REALIZED   INTEREST    INTEREST     INTEREST   INTEREST
CERTIFICATE               LOSSES     SHORTFALL $ SHORTFALL %   RATE        RATE
----------------------------------------------------------------------------------
AMAC 98-1(1A-1-1)          $0.00     $0.00        0.000%      0.000%     0.000%
AMAC 98-1(1A-1-4)          $0.00     $0.00        0.000%      0.000%     0.000%
AMAC 98-1(1A-1-6)**        $0.00     $0.00        0.000%      6.750%     6.750%
GECMS 97-9(1-A11 B PO2)    $0.00     $0.00        0.000%      0.000%     0.000%
HSMS 98-2(1A-1 One)        $0.00     $0.00        0.000%      0.000%     0.000%
HSMS 98-2(1A-1 Four)       $0.00     $0.00        0.000%      0.000%     0.000%
HSMS 98-2(1A-1 Five)**     $0.00     $0.00        0.000%      6.750%     6.750%
MRFC 98-2(A-11-5)**        $0.00     $0.00        0.000%      0.130%     0.130%
MRFC 98-2(A-11-6)          $0.00     $0.00        0.000%      0.000%     0.000%
PHMSC 96-6(A-4 PO)         $0.00     $0.00        0.000%      0.000%     0.000%
PHMSC 96-6(A-4 IO B)**     $0.00     $0.00        0.000%      0.000%     0.000%
PNCMS 95-2(A-7 PO)         $0.00     $0.00        0.000%      0.000%     0.000%
PNCMS 95-2(A-7 W)**        $0.00     $0.00        0.000%      0.100%     0.100%
PHMSC 98-1(II-A-1-1)       $0.00     $0.00        0.000%      0.000%     0.000%
PHMSC 98-1(II-A-1-4)       $0.00     $0.00        0.000%      0.000%     0.000%
PHMSC 98-1(II-A-1-6)**     $0.00     $0.00        0.000%      7.000%     7.000%
SASI 95-4(A-8 PO)          $0.00     $0.00        0.000%      0.000%     0.000%
---------------------------------------------------------------------------------------
        TOTAL              $0.00     $0.00        0.000%                41.235%
---------------------------------------------------------------------------------------
**Denotes Notional Class
</TABLE>


<TABLE>
<CAPTION>
CLASS CC-IO RELATED POOLED SECURITIES
-----------------------------------------------------------------------------------------------------------
                                                                                                   CURRENT
ISSUE                                                                                              PERIOD
SERIES                    BEGINNING        ENDING        PRINCIPAL      INTEREST      TOTAL        REALIZED
CERTIFICATE                BALANCE        BALANCE       DISTRIBUTED   DISTRIBUTED   DISTRIBUTED    LOSSES
-----------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>             <C>            <C>          <C>            <C>
AMAC 98-1 (1A-1-2)**             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
GECMS 96-6 (A-12D IO)**          $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
GECMS 97-9 (1-A11 F IO6)**       $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
HSMS 98-2 (1A-1 Two)**           $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
MRFC 98-2 (A-11-3)**             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PHMSC 95-7 (A-11A)**             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PHMSC 96-6 (A-4 IO a)**          $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
PNCMS 95-2 (A-7-S-2) **  $2,181,657.86   $1,944,893.84        $0.00   $1,363.54      $1,363.54       $0.00
PHMSC 98-1 (II-A-1-3)**     $81,358.84      $81,358.84        $0.00     $484.76        $484.76       $0.00
SASI 95-4 (A-8 IO)**             $0.00           $0.00        $0.00       $0.00          $0.00       $0.00
---------------------------------------------------------------------------------------------------------------------------
     Total               $2,263,016.70   $2,026,252.68        $0.00   $1,848.30      $1,848.30       $0.00
---------------------------------------------------------------------------------------------------------------------------
**Denotes Notional Class

---------------------------------------------------------------------------------
ISSUE                    CUMULATIVE                           STATED    EFFECTIVE
SERIES                    REALIZED   INTEREST    INTEREST     INTEREST   INTEREST
CERTIFICATE               LOSSES     SHORTFALL $ SHORTFALL %   RATE        RATE
----------------------------------------------------------------------------------
AMAC 98-1(1A-1-2)**        $0.00     $0.00        0.000%      7.000%     0.000%
GECMS 96-6(A-12D IO)**     $0.00     $0.00        0.000%      7.000%     0.000%
GECMS 97-9(1-All F IO6)**  $0.00     $0.00        0.000%      0.500%     0.000%
HSMS 98-2(1A-1 Two)**      $0.00     $0.00        0.000%      7.000%     0.000%
MRFC 98-2(A-11-3)**        $0.00     $0.00        0.000%      6.750%     0.000%
PHMSC 95-7(A-11A)**        $0.00     $0.00        0.000%      1.100%     0.000%
PHMSC 96-6(A-4 IO a)**     $0.00     $0.00        0.000%      7.250%     0.000%
PNCMS 95-2(A-7-S-2)**      $0.00     $0.00        0.000%      0.750%     0.750%
PHMSC 98-1(II-A-1-3)**     $0.00     $0.00        0.000%      7.150%     7.150%
SASI 95-4(A-8 IO)**        $0.00     $0.00        0.000%      7.500%     0.000%
----------------------------------------------------------------------------------------
     Total                 $0.00     $0.00        0.000%                 0.970%
----------------------------------------------------------------------------------------
**Denotes Notional Class
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
                                                                                U.S. BANK TRUST, NA.
-------------------------------------------------------------------------------------------------------------------
DEAL NAME:      Structured Asset Mortgage Investment Trust 2002-3     ISSUE DATE:         30-Apr-02
SERIES:         Pass-Through Certificates, Series 2002-3              DISTRIBUTION DATE:  28-Aug-03
                                                                      RUN DATE:           27-Aug-03     01:54:46 PM
-------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------
CASH RECONCILIATION
-------------------------------------------------------------------------------------------------------------------
A.
<S>                                                                             <C>
Collections on Underlying Certificates                                          8,579,776.55
                                                                                -------------
Total Collections                                                               8,579,776.55

-------------------------------------------------------------------------------------------------------------------
DISTRIBUTION SUMMARY AND RECONCILIATION:
-------------------------------------------------------------------------------------------------------------------
B.
Distributions (Section 3.05)
----------------------------
                                           1A                                        0.00
                                           2A                                        0.00
                                           3A                                 1,963,052.38
                                           CC                                 6,616,724.16
                                            R                                         0.00
                                          CC-lB                               4,578,923.91
                                          CC-2B                               1,950,676.63
                                          CC-3B                                       0.00
                                          CC-4A                                  85,275.32
                                          CC-IO                                   1,848.30
                                                                               -------------
Total Amount Distributed (only CC Total reflected in total distributed)       8,579,776.54
                                                                               =============

                                                                               -------------
Difference between A and B                                                             0.01
                                                                               =============
</TABLE>
Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2002-3
