

                           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):  August 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-AR3
            (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-103335-06                          33-0885129
          (Commission File Number)        (I.R.S. Employer Identification No.)


          1100 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.  Other Events

     Attached hereto is a copy of the Monthly 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
     August 25, 2003.




                                     SIGNATURE


               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.


                                  Deutsche Bank National Trust Company,
                                  not in its individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of June 1,2003.


          Date:  Aug 28, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of August 25, 2003.


	Ameriquest 2003-AR3 REMIC
	Mortgage Pass-Through Certificates


	August 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: August 25, 2003
	Underwriter(s):		UBS Warburg Lead Underwriter					Record Date: August 22, 2003
			Morgan Stanley Lead Underwriter					July 31, 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 August 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			1,076,206,991.28	1,343,764.01	5,834,543.68	7,178,307.69	-	-	1,070,372,447.60
A-2	MEZ, FLT	356,126,000.00			353,738,489.46	447,773.97	2,825,742.15	3,273,516.12	-	-	350,912,747.31
M-1	MEZ, FLT	93,500,000.00			93,500,000.00	152,976.39	-	152,976.39	-	-	93,500,000.00
M-2	MEZ, FLT	80,750,000.00			80,750,000.00	219,034.38	-	219,034.38	-	-	80,750,000.00
M-3	MEZ, FLT	17,000,000.00			17,000,000.00	52,700.00	-	52,700.00	-	-	17,000,000.00
M-4	MEZ, FLT	17,000,000.00			17,000,000.00	73,194.44	-	73,194.44	-	-	17,000,000.00
M-5	MEZ, FLT	17,000,000.00			17,000,000.00	70,998.61	-	70,998.61	-	-	17,000,000.00
M-6	MEZ, FLT	17,000,000.00			17,000,000.00	70,998.61	-	70,998.61	-	-	17,000,000.00
CE	EXE	21,249,900.00			21,250,000.00	6,454,430.45	-	6,454,430.45	-	-	21,250,000.00
R	R	-			-	-	-	-	-	-	-
P	SUB	100.00			100.00	135,216.27	-	135,216.27	-	-	100.00


Total		1,700,000,000.00			1,693,445,580.74	9,021,087.13	8,660,285.83	17,681,372.96	-	-	1,684,785,294.91


	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	07/25/03	08/24/03		A-Act/360	03072SHD0	1,080,374,000.00	996.142994	1.243795	5.400485	6.644280	990.742509
A-2	07/25/03	08/24/03		A-Act/360	03072SHE8	356,126,000.00	993.295883	1.257347	7.934670	9.192017	985.361213
M-1	07/25/03	08/24/03		A-Act/360	03072SHF5	93,500,000.00	1,000.000000	1.636111	-	1.636111	1,000.000000
M-2	07/25/03	08/24/03		A-Act/360	03072SHG3	80,750,000.00	1,000.000000	2.712500	-	2.712500	1,000.000000
M-3	07/25/03	08/24/03		A-Act/360	03072SHH1	17,000,000.00	1,000.000000	3.100000	-	3.100000	1,000.000000
M-4	07/25/03	08/24/03		A-Act/360	03072SHJ7	17,000,000.00	1,000.000000	4.305555	-	4.305555	1,000.000000
M-5	07/25/03	08/24/03		A-Act/360	03072SHK4	17,000,000.00	1,000.000000	4.176389	-	4.176389	1,000.000000
M-6	07/25/03	08/24/03		A-Act/360	03072SHL2	17,000,000.00	1,000.000000	4.176389	-	4.176389	1,000.000000
CE				-		21,249,900.00	1,000.004706	303.739333	-	303.739333	1,000.004706
R				-		-	-	-	-	-	-
P				-		100.00	1,000.000000	1,352,162.700000	-	1,352,162.700000	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 August 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		3,784,809.04		8,269,157.85	1,732,394.55	10,001,552.40	13,786,361.44	-	-	1,070,372,447.60
A-2	356,126,000.00		1,262,115.42		4,299,800.37	913,452.32	5,213,252.69	6,475,368.11	-	-	350,912,747.31
M-1	93,500,000.00		421,503.20		-	-	-	421,503.20	-	-	93,500,000.00
M-2	80,750,000.00		588,331.05		-	-	-	588,331.05	-	-	80,750,000.00
M-3	17,000,000.00		140,859.17		-	-	-	140,859.17	-	-	17,000,000.00
M-4	17,000,000.00		172,361.11		-	-	-	172,361.11	-	-	17,000,000.00
M-5	17,000,000.00		170,165.28		-	-	-	170,165.28	-	-	17,000,000.00
M-6	17,000,000.00		170,165.28		-	-	-	170,165.28	-	-	17,000,000.00
CE	21,249,900.00		11,097,147.28		0.00	-	-	11,097,147.28	-	100.00	21,250,000.00
R	-		-		-	-	-	-	-	-	-
P	100.00		191,482.98		-	-	-	191,482.98	-	-	100.00


Total	1,700,000,000.00		17,998,939.81		12,568,958.22	2,645,846.87	15,214,805.09	33,213,744.90	-	100.00	1,684,785,294.91


	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	1.45000%	1,076,206,991.28			1,343,764.01	-	-	-	1,343,764.01	1,343,764.01	-
A-2	1.47000%	353,738,489.46			447,773.97	-	-	-	447,773.97	447,773.97	-
M-1	1.90000%	93,500,000.00			152,976.39	-	-	-	152,976.39	152,976.39	-
M-2	3.15000%	80,750,000.00			219,034.38	-	-	-	219,034.38	219,034.38	-
M-3	3.60000%	17,000,000.00			52,700.00	-	-	-	52,700.00	52,700.00	-
M-4	5.00000%	17,000,000.00			73,194.44	-	-	-	73,194.44	73,194.44	-
M-5	4.85000%	17,000,000.00			70,998.61	-	-	-	70,998.61	70,998.61	-
M-6	4.85000%	17,000,000.00			70,998.61	-	-	-	70,998.61	70,998.61	-
CE		21,250,000.00			6,454,430.45	-	-	-	6,454,430.45	6,454,430.45	-
R		-			-	-	-	-	-	-	-
P		100.00			135,216.27	-	-	-	135,216.27	135,216.27	-


Total		1,693,445,580.74			9,021,087.13	-	-	-	9,021,087.13	9,021,087.13	-


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

	Collection Account Report for August 25, 2003 Distribution


	Collection Account Report


SUMMARY						GROUP 2	GROUP 1	TOTAL

	Principal Collections					2,825,742.15	5,834,543.68	8,660,285.83
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					2,825,742.15	5,834,543.68	8,660,285.83

	Interest Collections					2,472,476.26	7,657,511.28	10,129,987.54
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(282,199.27)	(961,917.41)	(1,244,116.68)
	TOTAL NET INTEREST					2,190,276.99	6,695,593.87	8,885,870.86

	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					5,016,019.14	12,530,137.55	17,546,156.69

	Prepayment Penalties Collected							135,216.27

	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							17,681,372.96


PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL

	Scheduled Principal Received					344,927.56	980,135.11	1,325,062.67
	Prepayments In Full					2,458,909.68	4,589,927.62	7,048,837.30
	Curtailments					21,904.91	143,218.89	165,123.80
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					0.00	121,262.06	121,262.06
	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					(282,834.21)	(786,885.73)	(1,069,719.94)
	Advanced Principal					282,834.21	786,885.73	1,069,719.94

	TOTAL PRINCIPAL COLLECTED					2,825,742.15	5,834,543.68	8,660,285.83


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

	Collection Account Report for August 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					2,615,772.42	8,084,989.47	10,700,761.89
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					0.00	616.42	616.42
	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

AMERIQUEST MORT SEC INC ASSET BACKED PASS THR CERT 03 AR3 8-K