~~Sequentially~~SECURITIES ~~Exhibit~~AND NoEXCHANGE COMMISSION Washington, D.C. ~~Description~~20549 ~~Numbered~~FORM ~~Page~~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): July 25, 2003 AMERIQUEST MORTGAGE SECURITIES INC. (as depositor, Ameriquest Mortgage Company, Master Servicer, and Deutsche Bank National Trust Company, as Trustee). AMERIQUEST MORT SEC INC ASSET BACK PS THR CERT SER 2003-~~----------~~AR2 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-103335-~~---------~~06 33-~~------------~~0885129 4(Commission File Number) (I.2R.S. ~~Subsequent~~Employer ~~Transfer~~Identification ~~Instrument~~No.) 991100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5.1 ~~Characteristics~~Other Events Attached hereto is a copy of the ~~Mortgage~~Monthly ~~Pool~~Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of ~~June~~July 125, 2003,. ~~relating~~SIGNATURE Pursuant to ~~Ameriquest~~the ~~Mortgage~~requirements of the Securities ~~Inc~~Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Deutsche Bank National Trust Company, ~~Asset-Backed~~not ~~Pass-Through~~in ~~Certificates~~its individual capacity, ~~Series~~but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of June 1,2003~~-AR3~~. Date: Aug 01, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of July 25, 2003.


	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates


	July 25, 2003 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
			14.	Other Related Information				25



				Total Number of Pages				25



			CONTACTS

				Administrator: Valerie Delgado
				Direct Phone Number: (714)247-6273
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		Ameriquest Mortgage Corp					Cut-Off Date: June 1, 2003
	Certificate Insurer(s):							Closing Date: June 6, 2003
								First Payment Date: July 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer


								Distribution Date: July 25, 2003
	Underwriter(s):		UBS Warburg Lead Underwriter					Record Date: July 24, 2003
			Morgan Stanley Lead Underwriter					June 30, 2003
			Banc of America Securities LLC Underwriter
			Citigroup Underwriter
			Deutsche Bank Underwriter
			RBS Greenwich Capital Underwriter


						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for July 25, 2003 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

A-1	FLT	1,080,374,000.00			1,080,374,000.00	2,441,045.03	4,167,008.72	6,608,053.75	-	-	1,076,206,991.28
A-2	MEZ, FLT	356,126,000.00			356,126,000.00	814,341.45	2,387,510.54	3,201,851.99	-	-	353,738,489.46
M-1	MEZ, FLT	93,500,000.00			93,500,000.00	268,526.81	-	268,526.81	-	-	93,500,000.00
M-2	MEZ, FLT	80,750,000.00			80,750,000.00	369,296.67	-	369,296.67	-	-	80,750,000.00
M-3	MEZ, FLT	17,000,000.00			17,000,000.00	88,159.17	-	88,159.17	-	-	17,000,000.00
M-4	MEZ, FLT	17,000,000.00			17,000,000.00	99,166.67	-	99,166.67	-	-	17,000,000.00
M-5	MEZ, FLT	17,000,000.00			17,000,000.00	99,166.67	-	99,166.67	-	-	17,000,000.00
M-6	MEZ, FLT	17,000,000.00			17,000,000.00	99,166.67	-	99,166.67	-	-	17,000,000.00
CE	EXE	21,249,900.00			21,249,900.00	4,642,716.83	-	4,642,716.83	-	100.00	21,250,000.00
R	R	-			-	-	-	-	-	-	-
P	SUB	100.00			100.00	56,266.71	-	56,266.71	-	-	100.00


Total		1,700,000,000.00			1,700,000,000.00	8,977,852.68	6,554,519.26	15,532,371.94	-	100.00	1,693,445,580.74


	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	06/06/03	07/24/03		A-Act/360	03072SHD0	1,080,374,000.00	1,000.000000	2.259444	3.857006	6.116450	996.142994
A-2	06/06/03	07/24/03		A-Act/360	03072SHE8	356,126,000.00	1,000.000000	2.286667	6.704117	8.990784	993.295883
M-1	06/06/03	07/24/03		A-Act/360	03072SHF5	93,500,000.00	1,000.000000	2.871944	-	2.871944	1,000.000000
M-2	06/06/03	07/24/03		A-Act/360	03072SHG3	80,750,000.00	1,000.000000	4.573333	-	4.573333	1,000.000000
M-3	06/06/03	07/24/03		A-Act/360	03072SHH1	17,000,000.00	1,000.000000	5.185834	-	5.185834	1,000.000000
M-4	06/06/03	07/24/03		A-Act/360	03072SHJ7	17,000,000.00	1,000.000000	5.833334	-	5.833334	1,000.000000
M-5	06/06/03	07/24/03		A-Act/360	03072SHK4	17,000,000.00	1,000.000000	5.833334	-	5.833334	1,000.000000
M-6	06/06/03	07/24/03		A-Act/360	03072SHL2	17,000,000.00	1,000.000000	5.833334	-	5.833334	1,000.000000
CE				-		21,249,900.00	1,000.000000	218.481820	-	218.481820	1,000.004706
R				-		-	-	-	-	-	-
P				-		100.00	1,000.000000	562,667.100000	-	562,667.100000	1,000.000000


							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for July 25, 2003 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

A-1	1,080,374,000.00		2,441,045.03		3,327,325.59	839,683.14	4,167,008.72	6,608,053.75	-	-	1,076,206,991.28
A-2	356,126,000.00		814,341.45		1,906,409.47	481,101.06	2,387,510.54	3,201,851.99	-	-	353,738,489.46
M-1	93,500,000.00		268,526.81		-	-	-	268,526.81	-	-	93,500,000.00
M-2	80,750,000.00		369,296.67		-	-	-	369,296.67	-	-	80,750,000.00
M-3	17,000,000.00		88,159.17		-	-	-	88,159.17	-	-	17,000,000.00
M-4	17,000,000.00		99,166.67		-	-	-	99,166.67	-	-	17,000,000.00
M-5	17,000,000.00		99,166.67		-	-	-	99,166.67	-	-	17,000,000.00
M-6	17,000,000.00		99,166.67		-	-	-	99,166.67	-	-	17,000,000.00
CE	21,249,900.00		4,642,716.83		-	-	-	4,642,716.83	-	100.00	21,250,000.00
R	-		-		-	-	-	-	-	-	-
P	100.00		56,266.71		-	-	-	56,266.71	-	-	100.00


Total	1,700,000,000.00		8,977,852.68		5,233,735.06	1,320,784.20	6,554,519.26	15,532,371.94	-	100.00	1,693,445,580.74


	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)

A-1	1.66000%	1,080,374,000.00			2,441,045.03	-	-	-	2,441,045.03	2,441,045.03	-
A-2	1.68000%	356,126,000.00			814,341.45	-	-	-	814,341.45	814,341.45	-
M-1	2.11000%	93,500,000.00			268,526.81	-	-	-	268,526.81	268,526.81	-
M-2	3.36000%	80,750,000.00			369,296.67	-	-	-	369,296.67	369,296.67	-
M-3	3.81000%	17,000,000.00			88,159.17	-	-	-	88,159.17	88,159.17	-
M-4	3.85571%	17,000,000.00			99,166.67	-	-	-	99,166.67	99,166.67	-
M-5	3.85571%	17,000,000.00			99,166.67	-	-	-	99,166.67	99,166.67	-
M-6	3.85571%	17,000,000.00			99,166.67	-	-	-	99,166.67	99,166.67	-
CE		21,249,900.00			4,642,716.83	-	-	-	4,642,716.83	4,642,816.83	-
R		-			-	-	-	-	-	-	-
P		100.00			56,266.71	-	-	-	56,266.71	56,266.71	-


Total		1,700,000,000.00			8,977,852.68	-	-	-	8,977,852.68	8,977,952.68	-


							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collection Account Report for July 25, 2003 Distribution


	Collection Account Report


SUMMARY						GROUP 2	GROUP 1	TOTAL

	Principal Collections					2,387,474.11	4,166,945.15	6,554,419.26
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					2,387,474.11	4,166,945.15	6,554,419.26

	Interest Collections					2,492,964.27	7,704,488.47	10,197,452.74
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(288,121.54)	(987,645.23)	(1,275,766.77)
	TOTAL NET INTEREST					2,204,842.73	6,716,843.24	8,921,685.97

	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					4,592,316.84	10,883,788.39	15,476,105.23

	Prepayment Penalties Collected							56,266.71

	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							15,532,371.94


PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL

	Scheduled Principal Received					344,029.58	976,754.62	1,320,784.20
	Prepayments In Full					1,764,367.34	1,817,240.55	3,581,607.89
	Curtailments					76,577.19	143,675.78	220,252.97
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					202,500.00	1,229,274.20	1,431,774.20
	Other Principal					0.00	0.00	0.00
	Prefunding Release					0.00	0.00	0.00
	Total Realized Loss Of Principal					0.00	0.00	0.00
	Delinquent Principal					(270,214.09)	(742,737.47)	(1,012,951.56)
	Advanced Principal					270,214.09	742,737.47	1,012,951.56

	TOTAL PRINCIPAL COLLECTED					2,387,474.11	4,166,945.15	6,554,419.26


				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collection Account Report for July 25, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL

	Scheduled Interest					2,629,914.17	8,104,096.95	10,734,011.12
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					1,662.19	7,557.72	9,219.91
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Net Prepayment Interest Shortfalls					0.00	0.00	0.00
	Delinquent Interest					(2,086,382.36)	(6,220,893.72)	(8,307,276.08)
	Interest Advanced					1,947,770.27	5,813,727.52	7,761,497.79

	TOTAL INTEREST COLLECTED					2,492,964.27	7,704,488.47	10,197,452.74


				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collection Account Report for July 25, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL

	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00

	TOTAL INTEREST WITHDRAWALS							0.00


INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL


	TOTAL INTEREST OTHER ACCOUNTS					0.00	0.00	0.00


INTEREST - FEES						GROUP 2	GROUP 1	TOTAL

	Current Servicing Fees					36,993.29	125,560.68	162,553.97
	Trustee Fees					439.01	1,331.82	1,770.83
	PMI Insurance Fees					250,689.24	860,752.73	1,111,441.97

	TOTAL INTEREST OTHER FEES					288,121.54	987,645.23	1,275,766.77


				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Credit Enhancement Report for July 25, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS						GROUP 2	GROUP 1	TOTAL

	Net WAC Rate Carryover Reserve Balance (Ending)							1,000.00


INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL


	Overcollateralized Amount							21,250,000.00
	Overcollateralization Target Amount							21,250,000.00
	Overcollateralization Increase Amount							100.00
	Overcollateralization Reduction Amount							0.00


				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	*Original*					1689	7784	9473
	Prior					-	-	-
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(6)	(10)	(16)
	Repurchases					(1)	(8)	(9)
	Liquidations					-	-	-
	Current					1,682	7,766	9,448

	*Principal Balance:*
	Original					421,452,910.82	1,278,544,522.64	1,699,997,433.46
	Prior					-	-	-
	Prefunding					-	-	-
	Scheduled Principal					(344,029.58)	(976,754.62)	(1,320,784.20)
	Partial and Full Voluntary Prepayments					(1,840,944.53)	(1,960,916.33)	(3,801,860.86)
	Repurchases					(202,500.00)	(1,229,274.20)	(1,431,774.20)
	Liquidations					-	-	-
	Current					419,065,436.71	1,274,377,577.49	1,693,443,014.20

PREFUNDING						GROUP 2	GROUP 1	TOTAL

	Original Pre-Funding Amount					74,373,163.95	225,622,307.79	299,995,471.74

	Pre-Funding Amount Beginning Balance					74,373,163.95	225,622,307.79	299,995,471.74
	Withdrawal for Subsequent Transfers					(74,372,916.03)	(225,619,989.17)	(299,992,905.20)
	Pre-Funding Amount Released as Principal					(247.92)	(2,318.62)	(2,566.54)
	Pre-Funding Amount Ending Balance					0.00	0.00	0.00


	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL

	Weighted Average Coupon Original					7.492869%	7.613333%	7.583469%
	Weighted Average Coupon Prior
	Weighted Average Coupon Current					7.492869%	7.613333%	7.583469%
	Weighted Average Months to Maturity Original					354	356	356
	Weighted Average Months to Maturity Prior					-	-	-
	Weighted Average Months to Maturity Current					354	356	356
	Weighted Avg Remaining Amortization Term Original					354	356	355
	Weighted Avg Remaining Amortization Term Prior					-	-	-
	Weighted Avg Remaining Amortization Term Current					354	356	355
	Weighted Average Seasoning Original					1.87	1.96	1.93
	Weighted Average Seasoning Prior					-	-	-
	Weighted Average Seasoning Current					1.87	1.96	1.93

Note: Original information refers to deal issue.


	Group 1
	Group 2
WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL

	Weighted Average Margin Original					4.183%	5.459%
	Weighted Average Margin Prior
	Weighted Average Margin Current					4.183%	5.459%
	Weighted Average Max Rate Original					8.965%	11.651%
	Weighted Average Max Rate Prior
	Weighted Average Max Rate Current					8.965%	11.651%
	Weighted Average Min Rate Original					5.060%	6.551%
	Weighted Average Min Rate Prior
	Weighted Average Min Rate Current					5.060%	6.551%
	Weighted Average Cap Up Original					0.651%	0.850%
	Weighted Average Cap Up Prior
	Weighted Average Cap Up Current					0.651%	0.850%
	Weighted Average Cap Down Original					0.651%	0.850%
	Weighted Average Cap Down Prior
	Weighted Average Cap Down Current					0.651%	0.850%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL

	Current Servicing Fees					36,993.29	125,560.68	162,553.97
	Delinquent Servicing Fees					138,612.09	407,166.20	545,778.29
	TOTAL SERVICING FEES					175,605.38	532,726.88	708,332.26

	Prepayment Interest Shortfall					533.14	3,208.71	3,741.85
	Compensating Interest					(533.14)	(3,208.71)	(3,741.85)
	Delinquent Servicing Fees					(138,612.09)	(407,166.20)	(545,778.29)

	COLLECTED SERVICING FEES					36,993.29	125,560.68	162,553.97


	Aggregate Advances with respect to this Distribution					2,217,984.36	6,556,464.99	8,774,449.35
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00


ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL

	Net Prepayment Interest Shortfall							0.00


				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			80,747.20	-	-	80,747.20
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			1	-	-	1
		% # Loans			0.01%	0.00%	0.00%	0.01%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		831,009.36	-	-	-	831,009.36
		% Balance		0.05%	0.00%	0.00%	0.00%	0.05%
		# Loans		3	-	-	-	3
		% # Loans		0.03%	0.00%	0.00%	0.00%	0.03%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		831,009.36	80,747.20	-	-	911,756.56
		% Balance		0.05%	0.00%	0.00%	0.00%	0.05%
		# Loans		3	1	-	-	4
		% # Loans		0.03%	0.01%	0.00%	0.00%	0.04%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Group 1 Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		385,491.92	-	-	-	385,491.92
		% Balance		0.03%	0.00%	0.00%	0.00%	0.03%
		# Loans		2	-	-	-	2
		% # Loans		0.03%	0.00%	0.00%	0.00%	0.03%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		385,491.92	-	-	-	385,491.92
		% Balance		0.03%	0.00%	0.00%	0.00%	0.03%
		# Loans		2	-	-	-	2
		% # Loans		0.03%	0.00%	0.00%	0.00%	0.03%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 12 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Group 2 Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			80,747.20	-	-	80,747.20
		% Balance			0.02%	0.00%	0.00%	0.02%
		# Loans			1	-	-	1
		% # Loans			0.06%	0.00%	0.00%	0.06%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		445,517.44	-	-	-	445,517.44
		% Balance		0.11%	0.00%	0.00%	0.00%	0.11%
		# Loans		1	-	-	-	1
		% # Loans		0.06%	0.00%	0.00%	0.00%	0.06%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		445,517.44	80,747.20	-	-	526,264.64
		% Balance		0.11%	0.02%	0.00%	0.00%	0.13%
		# Loans		1	1	-	-	2
		% # Loans		0.06%	0.06%	0.00%	0.00%	0.12%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 13 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	REO Report for July 25, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.

Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 14 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Foreclosure Report for July 25, 2003 Distribution


	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group
Total Current Balance = 000.00


Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Prepayment Report for July 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL

	*Current*
	Number of Paid in Full Loans					6	10	16
	Number of Repurchased Loans					1	8	9
	Total Number of Loans Prepaid in Full					7	18	25

	Paid in Full Balance					1,764,367.34	1,817,240.55	3,581,607.89
	Repurchased Loans Balance					202,500.00	1,229,274.20	1,431,774.20
	Curtailments Amount					76,577.19	143,675.78	220,252.97
	Total Prepayment Amount					2,043,444.53	3,190,190.53	5,233,635.06

	*Cumulative*
	Number of Paid in Full Loans					6	10	16
	Number of Repurchased Loans					1	8	9
	Total Number of Loans Prepaid in Full					7	18	25

	Paid in Full Balance					1,764,367.34	1,817,240.55	3,581,607.89
	Repurchased Loans Balance					202,500.00	1,229,274.20	1,431,774.20
	Curtailments Amount					76,577.19	143,675.78	220,252.97
	Total Prepayment Amount					2,043,444.53	3,190,190.53	5,233,635.06

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Prepayment Report for July 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL

	SMM					0.49%	0.25%	0.31%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.49%	0.25%	0.31%

	CPR					5.67%	2.96%	3.64%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off					5.67%	2.96%	3.64%

	PSA					1518.37%	755.84%	940.08%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1518.37%	755.84%	940.08%



	Group 1
	Group 2


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Prepayment Report for July 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments

	Group 1
	Group 2

CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off


PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off


PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.

				Page 18 of 25				© COPYRIGHT 2003 Deutsche Bank


	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Prepayment Detail Report for July 25, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 25						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,016,950.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 5,013,382.09


Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

40171357 1			85,000.00	84,655.50	Jul-03-03	8.050%	MI - 85.00%	Paid Off - 360	Nov-26-02
41666447 1			256,000.00	254,885.43	Jul-07-03	6.750%	MA - 80.00%	Paid Off - 360	Dec-31-02
43091529 1			125,000.00	124,804.37	Jun-20-03	7.250%	MA - 58.14%	Paid Off - 360	Mar-17-03
44139541 1			94,000.00	93,927.39	Jun-25-03	7.300%	ME - 62.67%	Paid Off - 360	Apr-16-03
44694487 1			120,000.00	119,821.32	Jun-16-03	7.500%	CA - 81.08%	Paid Off - 360	Mar-31-03
45084852 1			180,000.00	179,874.23	Jun-30-03	7.800%	CA - 90.00%	Paid Off - 360	Apr-24-03
45132313 1			212,500.00	212,395.47	Jun-23-03	9.500%	TX - 85.00%	Paid Off - 360	Apr-07-03
45222650 1			207,000.00	206,745.70	Jul-08-03	8.450%	FL - 90.00%	Paid Off - 360	Apr-01-03
46141602 1			220,800.00	220,631.14	Jul-02-03	7.350%	NY - 80.00%	Paid Off - 360	Apr-10-03
47678685 1			319,500.00	319,500.00	Jun-20-03	6.900%	CA - 90.00%	Paid Off - 360	May-20-03
43720218 2			398,000.00	397,044.22	Jul-07-03	7.150%	CA - 74.39%	Paid Off - 360	Feb-14-03
43907443 2			123,300.00	123,190.21	Jul-02-03	9.990%	NM - 90.00%	Paid Off - 360	Mar-18-03
44426583 2			365,000.00	364,688.80	Jul-09-03	6.800%	CA - 76.84%	Paid Off - 360	Apr-22-03
44999910 2			120,000.00	119,963.30	Jun-25-03	11.700%	CO - 60.00%	Paid Off - 360	Apr-02-03
45217635 2			370,500.00	370,261.31	Jun-05-03	8.200%	CA - 95.00%	Paid Off - 360	Apr-08-03
46992335 2			389,500.00	389,219.50	Jun-27-03	7.650%	CA - 95.00%	Paid Off - 360	Apr-25-03
45197431 1			312,550.00	312,329.40	Jun-24-03	7.750%	CA - 95.00%	Repur/Subs - 360	Apr-30-03
45346913 1			228,000.00	228,000.00	Jun-24-03	6.450%	CO - 80.00%	Repur/Subs - 360	May-06-03
46052932 1			110,500.00	111,110.05	Jun-17-03	6.625%	CA - 89.11%	Repur/Subs - 360	May-22-03
46159471 1			148,500.00	148,500.00	Jun-25-03	6.850%	CA - 90.00%	Repur/Subs - 360	May-23-03
46168928 1			71,200.00	71,136.25	Jul-10-03	6.550%	AZ - 80.00%	Repur/Subs - 360	Apr-30-03
46735627 1			120,000.00	120,000.00	Jul-01-03	8.300%	CA - 21.43%	Repur/Subs - 360	May-09-03
47138193 1			85,500.00	86,098.50	Jun-16-03	8.400%	FL - 95.00%	Repur/Subs - 360	May-15-03
47534714 1			152,100.00	152,100.00	Jul-08-03	8.150%	CA - 90.00%	Repur/Subs - 360	May-30-03
46983433 2			202,500.00	202,500.00	Jul-01-03	9.850%	NV - 74.72%	Repur/Subs - 360	May-20-03


					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 25, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL

	*Current*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	*Cumulative*
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.


	Cumulative Loss Percentage							0.0000%


	Group 1						3 Months Moving Average
	Group 2

Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 25, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL

	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%

	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%

	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%

	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off

	Group 1
	Group 2
CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 21 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 25, 2003 Distribution


	Realized Loss Report - Collateral

	Group 1
	Group 2

CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off


SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off


COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.

				Page 22 of 25				© COPYRIGHT 2003 Deutsche Bank


	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Realized Loss Detail Report for July 25, 2003 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.

Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


					Page 23 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 25, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL

	Has a Stepdown Date occurred?							No

	Does Trigger Event exist?							No

	1. Does (A) exceed (B)?							No
	(A) Delinquency Percentage (quotient of (x) over (y))							0.05%
	(x) 60+ Day Delinq. Loans (incl. FCLs, REOs & BKs)							831,009.36
	(y) Stated Principal Balance of the Mortgage Loans							1,693,443,014.20
	(B) 16.50%							16.5000%

	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.0000%
	(x) Aggregate Realized Losses to date							0.00
	(y) Cut-off Date Principal Bal. of the Mortgage Loans							1,700,000,000.00
	(B) Applicable Percentage							100.0000%


	Credit Enhancement Percentage							15.5600%



ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL


				Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates

	Other Related Information for July 25, 2003 Distribution


	Other Related Information


ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL


	Net WAC Rate Carryover Amt: Class A-1							0.00
	Net WAC Rate Carryover Amt: Class A-2							0.00
	Net WAC Rate Carryover Amt: Class M-1							0.00
	Net WAC Rate Carryover Amt: Class M-2							0.00
	Net WAC Rate Carryover Amt: Class M-3							0.00
	Net WAC Rate Carryover Amt: Class M-4							9,949.81
	Net WAC Rate Carryover Amt: Class M-5							9,949.81
	Net WAC Rate Carryover Amt: Class M-6							9,949.81


	Net WAC Rate Carryover Amt: Class A-1 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class A-2 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-1 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-2 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-3 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-4 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-5 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class M-6 Unpaid							0.00


				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · AMERIQUEST MORT SEC INC ASSET BACKED PASS THR CERT 03 AR3