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): ~~October~~November 2725, 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) 333-103335-05 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 ~~October~~November 2725, 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 May 1,2003. Date: ~~Oct~~Nov 2926, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~October~~November 2725, 2003.

	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	October 27, 2003 Distribution
	November 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				15
			8.	Foreclosure Report				16
			9.	Prepayment Report				17
			10.	Prepayment Detail Report				20
			11.	Realized Loss Report				2223
			12.	Realized Loss Detail Report				2526
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				2627
			14.	Other Related Information				2728
				Total Number of Pages				2728
			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 Mtg Sec Inc					Cut-Off Date: May 1, 2003
	Certificate Insurer(s):							Closing Date: May 14, 2003
								First Payment Date: June 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: October 27, 2003
								Distribution Date: November 25, 2003
	Underwriter(s):		Bank of America NT&SA Lead Underwriter					Record Date: ~~October~~November 24, 2003
			Deutsche Bank Lead Underwriter					~~September~~October 3031, 2003
			Banc One Capital Markets Underwriter
			Merrill Lynch & Co. Underwriter
						Page 1 of 27					© COPYRIGHT 2003 Deutsche Bank
						Page 1 of 28					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for October 27, 2003 Distribution
	Certificate Payment Report for November 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	348,141,000.00			~~331~~326,~~962~~291,~~289~~170.4289	~~427~~381,~~862~~126.5121	57,~~671~~445,~~118~~513.5358	67,~~098~~826,~~981~~639.0479	-	-	~~326~~318,~~291~~845,~~170~~657.8931
A-2	FLT	100,317,000.00			9693,~~033~~838,~~846~~787.8045	~~123~~109,~~776~~608.9692	23,~~195~~055,~~059~~342.3584	23,~~318~~164,~~836~~951.3176	-	-	9390,~~838~~783,~~787~~444.4561
A-3	FLT	8,709,000.00			8,~~337~~146,~~158~~595.9229	1210,~~005~~631.5131	~~190~~265,~~563~~248.6397	~~202~~275,~~569~~880.1428	-	-	87,~~146~~881,~~595~~346.2932
A-4	FLT	387,833,000.00			~~373~~364,~~263~~005,~~125~~101.4107	~~487~~431,~~730~~042.4871	910,~~258~~944,~~024~~773.3479	911,~~745~~375,~~754~~816.8250	-	-	~~364~~353,~~005~~060,~~101~~327.0728
M-1	MEZ, FLT	55,000,000.00			55,000,000.00	9687,~~311~~281.1194	-	9687,~~311~~281.1194	-	-	55,000,000.00
M-2	MEZ, FLT	47,500,000.00			47,500,000.00	~~133~~120,~~000~~531.0025	-	~~133~~120,~~000~~531.0025	-	-	47,500,000.00
M-3	MEZ, FLT	27,500,000.00			27,500,000.00	~~141~~128,~~777~~486.7811	-	~~141~~128,~~777~~486.7811	-	-	27,500,000.00
M-4	MEZ, FLT	12,500,000.00			12,500,000.00	5449,~~111~~038.1119	-	5449,~~111~~038.1119	-	-	12,500,000.00
CE	EXE	12,498,666.19			12,499,984.58	3,~~709~~774,~~194~~013.9893	0.00	3,~~709~~774,~~194~~013.9893	-	-	12,499,984.58
R	R	-			-	-	-	-	-	-	-
P	SUB	100.00			100.00	~~326~~596,~~485~~055.4160	-	~~326~~596,~~485~~055.4160	-	-	100.00
Total		999,998,766.19			~~964~~947,~~596~~281,~~505~~739.1328	5,~~512~~687,~~255~~816.8517	1721,~~314~~710,~~765~~879.8518	2227,~~827~~398,~~021~~695.7035	-	-	~~947~~925,~~281~~570,~~739~~860.2810
	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	0910/2527/03	1011/2624/03		A-Act/360	03072SHA6	348,141,000.00	~~953~~937.~~528281~~238564	1.~~228992~~094747	1621.~~289717~~386489	1722.~~518709~~481235	~~937~~915.~~238564~~852075
A-2	0910/2527/03	1011/2624/03		A-Act/360	03072SHB4	100,317,000.00	~~957~~935.~~303815~~422585	1.~~233858~~092626	2130.~~881230~~456880	2331.~~115088~~549506	~~935~~904.~~422585~~965705
A-3	0910/2527/03	1011/2624/03		A-Act/360	03072SGV1	8,709,000.00	~~957~~935.~~303815~~422585	1.~~378518~~220727	2130.~~881230~~456880	2331.~~259748~~677607	~~935~~904.~~422585~~965705
A-4	0910/2527/03	1011/2624/03		A-Act/360	03072SGW9	387,833,000.00	~~962~~938.~~432607~~561445	1.~~257579~~111413	2328.~~871162~~220326	2529.~~128741~~331739	~~938~~910.~~561445~~341119
M-1	0910/2527/03	1011/2624/03		A-Act/360	03072SGX7	55,000,000.00	1,000.000000	1.~~751111~~586944	-	1.~~751111~~586944	1,000.000000
M-2	0910/2527/03	1011/2624/03		A-Act/360	03072SGY5	47,500,000.00	1,000.000000	2.~~800000~~537500	-	2.~~800000~~537500	1,000.000000
M-3	0910/2527/03	1011/2624/03		A-Act/360	03072SGZ2	27,500,000.00	1,000.000000	54.~~155556~~672222	-	54.~~155556~~672222	1,000.000000
M-4	0910/2527/03	1011/2624/03		A-Act/360	03072SHC2	12,500,000.00	1,000.000000	43.~~328889~~923055	-	43.~~328889~~923055	1,000.000000
CE				-		12,498,666.19	1,000.~~105483~~105482	~~296~~301.~~767265~~953334	0.000000	~~296~~301.~~767265~~953334	1,000.105482
R				-		-	-	-	-	-	-
P				-		100.00	1,000.000000	35,~~264~~960,~~854~~556.~~100000~~000000	-	35,~~264~~960,~~854~~556.~~100000~~000000	1,000.000000
							Page 2 of 27				© COPYRIGHT 2003 Deutsche Bank
							Page 2 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for October 27, 2003 Distribution
	Certificate Payment Report for November 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	348,141,000.00		2,~~329~~710,~~271~~397.0021		2027,~~278~~470,~~859~~209.8808	1,~~570~~825,~~969~~133.2461	2129,~~849~~295,~~829~~342.1169	2432,~~179~~005,~~100~~739.1190	-	-	~~326~~318,~~291~~845,~~170~~657.8931
A-2	100,317,000.00		~~671~~781,~~515~~124.7062		68,~~021~~972,~~722~~766.2009	~~456~~560,~~490~~789.3530	69,~~478~~533,~~212~~555.5539	710,~~149~~314,~~728~~680.2501	-	-	9390,~~838~~783,~~787~~444.4561
A-3	8,709,000.00		6575,~~003~~635.8516		~~522~~778,~~774~~968.5987	3948,~~630~~684.1281	~~562~~827,~~404~~653.7168	~~627~~903,~~408~~288.5684	-	-	87,~~146~~881,~~595~~346.2932
A-4	387,833,000.00		23,~~633~~064,~~783~~826.3910		2232,~~091~~662,~~639~~795.2286	12,~~736~~109,~~259~~876.7186	2334,~~827~~772,~~898~~672.9372	2637,~~461~~837,~~682~~498.3282	-	-	~~364~~353,~~005~~060,~~101~~327.0728
M-1	55,000,000.00		~~506~~593,~~488~~770.8983		-	-	-	~~506~~593,~~488~~770.8983	-	-	55,000,000.00
M-2	47,500,000.00		~~695~~816,~~875~~406.0025		-	-	-	~~695~~816,~~875~~406.0025	-	-	47,500,000.00
M-3	27,500,000.00		~~738~~867,~~909~~395.7384		-	-	-	~~738~~867,~~909~~395.7384	-	-	27,500,000.00
M-4	12,500,000.00		~~282~~331,~~263~~302.8908		-	-	-	~~282~~331,~~263~~302.8908	-	-	12,500,000.00
CE	12,498,666.19		1822,~~558~~332,~~759~~773.6255		0.01	0.00	0.01	1822,~~558~~332,~~759~~773.6356	0.00	1,318.40	12,499,984.58
R	-		-		-	-	-	-	-	-	-
P	100.00		~~865~~1,~~102~~461,158.9959		-	-	-	~~865~~1,~~102~~461,158.9959	-	-	100.00
Total	999,998,766.19		2733,~~346~~034,~~974~~790.0623		4869,~~914~~884,~~995~~739.90	34,~~803~~544,~~349~~484.4159	5274,~~718~~429,~~345~~224.3149	80107,~~065~~464,~~319~~014.3772	0.00	1,318.40	~~947~~925,~~281~~570,~~739~~860.2810
	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%	~~331~~326,~~962~~291,~~289~~170.4289			~~427~~381,~~862~~126.5121	-	-	-	~~427~~381,~~862~~126.5121	~~427~~381,~~862~~126.5121	-
A-2	1.45000%	9693,~~033~~838,~~846~~787.8045			~~123~~109,~~776~~608.9692	-	-	-	~~123~~109,~~776~~608.9692	~~123~~109,~~776~~608.9692	-
A-3	1.62000%	8,~~337~~146,~~158~~595.9229			1210,~~005~~631.5131	-	-	-	1210,~~005~~631.5131	1210,~~005~~631.5131	-
A-4	1.47000%	~~373~~364,~~263~~005,~~125~~101.4107			~~487~~431,~~730~~042.4871	-	-	-	~~487~~431,~~730~~042.4871	~~487~~431,~~730~~042.4871	-
M-1	1.97000%	55,000,000.00			9687,~~311~~281.1194	-	-	-	9687,~~311~~281.1194	9687,~~311~~281.1194	-
M-2	3.15000%	47,500,000.00			~~133~~120,~~000~~531.0025	-	-	-	~~133~~120,~~000~~531.0025	~~133~~120,~~000~~531.0025	-
M-3	5.80000%	27,500,000.00			~~141~~128,~~777~~486.7811	-	-	-	~~141~~128,~~777~~486.7811	~~141~~128,~~777~~486.7811	-
M-4	4.87000%	12,500,000.00			5449,~~111~~038.1119	-	-	-	5449,~~111~~038.1119	5449,~~111~~038.1119	-
CE		12,499,984.58			3,~~709~~774,~~194~~013.9893	-	-	-	3,~~709~~774,~~194~~013.9893	3,~~709~~774,~~194~~013.9893	-
R		-			-	-	-	-	-	-	-
P		100.00			~~326~~596,~~485~~055.4160	-	-	-	~~326~~596,~~485~~055.4160	~~326~~596,~~485~~055.4160	-
Total		~~964~~947,~~596~~281,~~505~~739.1328			5,~~512~~687,~~255~~816.8517	-	-	-	5,~~512~~687,~~255~~816.8517	5,~~512~~687,~~255~~816.8517	-
							Page 3 of 27				© COPYRIGHT 2003 Deutsche Bank
							Page 3 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report
SUMMARY					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Principal Collections				910,~~258~~944,~~024~~773.3479	23,~~385~~320,~~622~~591.9881	57,~~671~~445,~~118~~513.5358	1721,~~314~~710,~~765~~879.8518
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				910,~~258~~944,~~024~~773.3479	23,~~385~~320,~~622~~591.9881	57,~~671~~445,~~118~~513.5358	1721,~~314~~710,~~765~~879.8518
	Interest Collections				2,~~669~~615,~~413~~333.8243	~~745~~731,~~925~~661.7962	2,~~376~~343,~~175~~180.2250	5,~~791~~690,~~514~~175.8355
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	0.00
	Interest Fees				(~~278~~274,~~051~~196.8620)	(77,~~149~~157.1381)	(~~249~~247,~~832~~060.4797)	(~~605~~598,~~033~~414.4698)
	TOTAL NET INTEREST				2,~~391~~341,~~361~~137.9623	~~668~~654,~~776~~503.6681	2,~~126~~096,~~342~~119.7553	5,~~186~~091,~~481~~760.3757
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE				1113,~~649~~285,~~386~~911.3002	3,~~054~~975,~~399~~095.6462	79,~~797~~541,~~461~~633.2811	2226,~~501~~802,~~247~~639.2275
	Prepayment Penalties Collected							~~326~~596,~~485~~055.4160
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							2227,~~827~~398,~~732~~695.6335
PRINCIPAL - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received				~~346~~340,~~502~~668.7714	9997,~~376~~423.1958	~~306~~303,~~328~~043.4446	~~752~~741,~~207~~135.4018
	Prepayments In Full				810,~~886~~588,~~427~~736.2748	23,~~281~~220,~~334~~177.5093	57,~~347~~135,~~042~~341.4139	1620,~~514~~944,~~804~~255.1880
	Curtailments				2515,~~094~~369.3017	42,~~912~~990.2930	177,~~747~~128.6873	4725,~~754~~488.2720
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Principal				0.00	0.00	0.00	0.00
	Repurchased Principal Amounts				0.00	0.00	0.00	0.00
	Other Principal				0.00	0.00	0.00	0.00
	Total Realized Loss Of Principal				0.00	0.00	0.00	0.00
	Delinquent Principal				(~~307~~297,~~291~~515.3495)	(8985,~~331~~683.7233)	(~~268~~263,~~481~~044.5276)	(~~665~~646,~~104~~244.5804)
	Advanced Principal				~~307~~297,~~291~~515.3495	8985,~~331~~683.7233	~~268~~263,~~481~~044.5276	~~665~~646,~~104~~244.5804
	TOTAL PRINCIPAL COLLECTED				910,~~258~~944,~~024~~773.3479	23,~~385~~320,~~622~~591.9881	57,~~671~~445,~~118~~513.5358	1721,~~314~~710,~~765~~879.8518
				Page 4 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 4 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Interest				2,~~832~~772,~~075~~263.8001	~~791~~775,~~908~~970.2211	2,~~519~~483,~~902~~347.5740	6,~~143~~031,~~886~~580.5952
	Liquidation Interest				0.00	0.00	0.00	0.00
	Repurchased Interest				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Interest				0.00	0.00	0.00	0.00
	Relief Act Interest Shortfalls				0.00	0.00	0.00	0.00
	Net Prepayment Interest Shortfalls				0.00	0.00	0.00	0.00
	Delinquent Interest				(2,~~498~~412,~~129~~652.0548)	(~~705~~679,~~130~~014.6427)	(2,~~202~~145,~~514~~977.3539)	(5,~~405~~237,~~774~~644.0414)
	Interest Advanced				2,~~335~~255,~~467~~722.0790	~~659~~634,~~148~~705.2178	2,~~058~~005,~~787~~810.0049	54,~~053~~896,~~402~~239.2817
	TOTAL INTEREST COLLECTED				2,~~669~~615,~~413~~333.8243	~~745~~731,~~925~~661.7962	2,~~376~~343,~~175~~180.2250	5,~~791~~690,~~514~~175.8355
				Page 5 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 5 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS					GROUP 3	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 3	GROUP 2	GROUP 1	TOTAL
	TOTAL INTEREST OTHER ACCOUNTS				0.00	0.00	0.00	0.00
INTEREST - FEES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				2224,~~506~~381.4130	56,~~838~~518.5750	2122,~~198~~395.4695	4953,~~543~~295.4475
	Trustee Fees				~~833~~815.2690	~~233~~228.1972	~~742~~731.1753	1,~~808~~776.6215
	PMI Insurance Fees				~~254~~248,~~712~~999.1900	7170,~~077~~410.3759	~~227~~223,~~891~~933.8449	~~553~~543,~~681~~343.4008
	TOTAL INTEREST OTHER FEES				~~278~~274,~~051~~196.8620	77,~~149~~157.1381	~~249~~247,~~832~~060.4797	~~605~~598,~~033~~414.4698
				Page 6 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 6 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for October 27, 2003 Distribution
	Credit Enhancement Report for November 25, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Reserve Balance (Ending)							1,000.00
INSURANCE					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Overcollateralized Amount							12,499,984.58
	Overcollateralization Target Amount							12,499,984.58
	Overcollateralization Increase Amount							0.00
	Overcollateralization Reduction Amount							0.00
				Page 7 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 7 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Collateral Report for October 27, 2003 Distribution
	Collateral Report for November 25, 2003 Distribution
	Collateral Report
COLLATERAL					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original				2304	750	2282	5336
	Prior				2,~~247~~208	~~728~~715	2,~~205~~179	5,~~180~~102
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(3946)	(1316)	(2637)	(7899)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				2,~~208~~162	~~715~~699	2,~~179~~142	5,~~102~~003
	Principal Balance:
	Original				458,973,149.17	129,025,271.41	412,000,345.61	999,998,766.19
	Prior				~~444~~435,~~404~~146,~~139~~115.3602	~~124~~121,~~370~~984,~~405~~782.0204	~~395~~390,~~821~~150,~~960~~842.7522	~~964~~947,~~596~~281,~~505~~739.1328
	Prefunding				-	-	-	-
	Scheduled Principal				(~~346~~340,~~502~~668.7714)	(9997,~~376~~423.1958)	(~~306~~303,~~328~~043.4446)	(~~752~~741,~~207~~135.4018)
	Partial and Full Voluntary Prepayments				(810,~~911~~604,~~521~~105.5765)	(23,~~286~~223,~~246~~168.7923)	(57,~~364~~142,~~790~~470.0912)	(1620,~~562~~969,~~558~~744.4500)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				~~435~~424,~~146~~201,~~115~~341.0223	~~121~~118,~~984~~664,~~782~~190.0423	~~390~~382,~~150~~705,~~842~~328.2264	~~947~~925,~~281~~570,~~739~~860.2810
PREFUNDING					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1		Group 3
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 27				© COPYRIGHT 2003 Deutsche Bank
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	Ameriquest Mortgage Securities, Inc. 2003-AR2
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	Collateral Report for November 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original				7.649125%	7.649632%	7.648471%	7.648921%
	Weighted Average Coupon Prior				7.~~647467~~647298%	7.~~634509~~640804%	7.~~644719~~639503%	7.~~644667~~643262%
	Weighted Average Coupon Current				7.~~647298~~645054%	7.~~640804~~633445%	7.~~639503~~638115%	7.~~643262~~640701%
	Weighted Average Months to Maturity Original				356	354	356	356
	Weighted Average Months to Maturity Prior				~~352~~351	~~351~~350	~~353~~352	~~352~~351
	Weighted Average Months to Maturity Current				~~351~~350	~~350~~349	~~352~~351	~~351~~350
	Weighted Avg Remaining Amortization Term Original				355	354	356	355
	Weighted Avg Remaining Amortization Term Prior				~~352~~351	~~350~~349	~~353~~352	~~352~~351
	Weighted Avg Remaining Amortization Term Current				~~351~~350	349	~~352~~351	~~351~~350
	Weighted Average Seasoning Original				2.17	2.22	2.39	2.27
	Weighted Average Seasoning Prior				56.1716	56.22	56.38	56.26
	Weighted Average Seasoning Current				67.1617	67.22	67.3837	67.26
Note: Original information refers to deal issue.
	Group 1		Group 3
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 27				© COPYRIGHT 2003 Deutsche Bank
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	Ameriquest Mortgage Securities, Inc. 2003-AR2
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	Collateral Report for November 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original				4.387%	4.360%	5.479%
	Weighted Average Margin Prior				4.~~369~~359%	4.~~359~~334%	5.~~467~~464%
	Weighted Average Margin Current				4.~~359~~354%	4.~~334~~298%	5.~~464~~454%
	Weighted Average Max Rate Original				9.333%	9.257%	11.724%
	Weighted Average Max Rate Prior				9.~~296~~278%	9.~~241~~198%	11.~~694~~684%
	Weighted Average Max Rate Current				9.~~278~~265%	9.~~198~~117%	11.~~684~~666%
	Weighted Average Min Rate Original				5.253%	5.177%	6.624%
	Weighted Average Min Rate Prior				5.~~232~~223%	5.~~163~~141%	6.~~607~~600%
	Weighted Average Min Rate Current				5.~~223~~215%	5.~~141~~093%	6.~~600~~590%
	Weighted Average Cap Up Original				0.680%	0.680%	0.850%
	Weighted Average Cap Up Prior				0.~~677~~676%	0.~~680~~676%	0.~~848~~847%
	Weighted Average Cap Up Current				0.~~676~~675%	0.~~676~~671%	0.~~847~~846%
	Weighted Average Cap Down Original				0.680%	0.680%	0.850%
	Weighted Average Cap Down Prior				0.~~677~~676%	0.~~680~~676%	0.~~848~~847%
	Weighted Average Cap Down Current				0.~~676~~675%	0.~~676~~671%	0.~~847~~846%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				2224,~~506~~381.4130	56,~~838~~518.5750	2122,~~198~~395.4695	4953,~~543~~295.4475
	Delinquent Servicing Fees				~~162~~156,~~661~~929.9858	4544,~~982~~308.4349	~~143~~140,~~727~~166.3690	~~352~~341,~~371~~404.7797
	TOTAL SERVICING FEES				~~185~~181,~~168~~310.3988	5150,~~821~~826.0099	~~164~~162,~~925~~562.8285	~~401~~394,~~915~~700.2172
	Prepayment Interest Shortfall				68,~~539~~427.2495	1,~~826~~332.0296	3,~~824~~251.1543	1213,~~189~~012.4134
	Compensating Interest				(68,~~539~~427.2495)	(1,~~826~~332.0296)	(3,~~824~~251.1543)	(1213,~~189~~012.4134)
	Delinquent Servicing Fees				(~~162~~156,~~661~~929.9858)	(4544,~~982~~308.4349)	(~~143~~140,~~727~~166.3690)	(~~352~~341,~~371~~404.7797)
	COLLECTED SERVICING FEES				2224,~~506~~381.4130	56,~~838~~518.5750	2122,~~198~~395.4695	4953,~~543~~295.4475
	Aggregate Advances with respect to this Distribution				2,~~642~~553,~~758~~238.4185	~~748~~720,~~479~~389.9311	2,~~327,~~268,855.5225	5,~~718~~542,~~506~~483.8621
	Current Nonrecoverable Advances				0.00	0.00	0.00	0.00
	Cumulative Nonrecoverable Advances				0.00	0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall							0.00
				Page 10 of 27				© COPYRIGHT 2003 Deutsche Bank
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	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
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	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			812,~~165~~614,~~969~~241.8838	6,~~852~~323,~~127~~340.7219	6,~~855~~221,~~692~~235.1590	2125,~~873~~158,~~789~~817.7547
		% Balance			01.8636%	0.7268%	0.7267%	2.3172%
		# Loans			4764	36	4539	~~128~~139
		% # Loans			01.9228%	0.7172%	0.8878%	2.5178%
FORECLOSURE		Balance		-	~~160,932.18~~-	-	27,~~143~~516,~~259~~129.7746	27,~~304~~516,~~191~~129.9546
		% Balance		0.00%	0.0200%	0.00%	0.2381%	0.2481%
		# Loans		-	1-	-	1447	1547
		% # Loans		0.00%	0.0200%	0.00%	0.2794%	0.2994%
BANKRUPTCY		Balance		2,~~402~~804,~~411~~276.7517	88459,~~865~~933.8936	~~478~~156,~~306~~547.9987	~~107~~571,~~638~~121.5708	3,~~077~~991,~~223~~878.2048
		% Balance		0.2530%	0.0105%	0.0502%	0.0106%	0.3243%
		# Loans		1416	14	32	13	1925
		% # Loans		0.2732%	0.0208%	0.0604%	0.0206%	0.3750%
REO		Balance		-	-	-	-62,730.63	-62,730.63
		% Balance		0.00%	0.00%	0.00%	0.0001%	0.0001%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0002%	0.0002%
TOTAL		Balance		2,~~402~~804,~~411~~276.7517	813,~~415~~074,~~767~~174.9574	76,~~330~~479,~~434~~888.7106	914,~~106~~371,~~590~~217.4907	2736,~~255~~729,~~204~~556.9004
		% Balance		0.2530%	01.8941%	0.7770%	01.9655%	23.8897%
		# Loans		1416	4968	3938	6090	~~162~~212
		% # Loans		0.2732%	01.9636%	0.76%	1.1880%	34.1824%
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 27				© COPYRIGHT 2003 Deutsche Bank
				Page 11 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			34,~~436~~342,~~747~~365.7599	3,~~460~~116,~~902~~360.8430	3,~~495~~050,~~342~~745.5259	10,~~392~~509,~~993~~471.1188
		% Balance			01.8813%	0.8981%	0.9080%	2.6675%
		# Loans			2026	17	2320	6063
		% # Loans			01.9221%	0.7879%	10.0693%	2.7594%
FORECLOSURE		Balance		-	-	-	~~915~~3,~~685~~592,617.6817	~~915~~3,~~685~~592,617.6817
		% Balance		0.00%	0.00%	0.00%	0.2394%	0.2394%
		# Loans		-	-	-	621	621
		% # Loans		0.00%	0.00%	0.00%	0.2898%	0.2898%
BANKRUPTCY		Balance		~~770~~621,~~525~~831.1045	-321,064.91	~~172,260.27~~-	~~107~~333,~~638~~052.5737	1,~~050~~275,~~423~~948.9473
		% Balance		0.2016%	0.0008%	0.0400%	0.0309%	0.2733%
		# Loans		5	-2	1-	12	79
		% # Loans		0.23%	0.0009%	0.0500%	0.0509%	0.3242%
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		~~770~~621,~~525~~831.1045	34,~~436~~663,~~747~~430.7590	3,~~633~~116,~~163~~360.1130	46,~~518~~976,~~666~~415.7713	1215,~~359~~378,~~102~~037.7378
		% Balance		0.2016%	01.8822%	0.9381%	1.1682%	34.1702%
		# Loans		5	2028	1817	3043	7393
		% # Loans		0.23%	01.9231%	0.8379%	12.3801%	34.3534%
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 27				© COPYRIGHT 2003 Deutsche Bank
				Page 12 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1989,~~145,778~~462.2646	~~383~~814,~~581~~378.2181	1879,~~075,731~~593.7936	2,~~605~~683,~~091~~434.2663
		% Balance			0.9483%	0.3169%	0.8874%	2.1426%
		# Loans			67	34	85	1716
		% # Loans			01.8400%	0.4257%	10.1272%	2.3829%
FORECLOSURE		Balance		-	-	-	61479,~~541~~018.6129	61479,~~541~~018.6129
		% Balance		0.00%	0.00%	0.00%	0.0540%	0.0540%
		# Loans		-	-	-	16	16
		% # Loans		0.00%	0.00%	0.00%	0.1486%	0.1486%
BANKRUPTCY		Balance		~~564~~681,~~723~~630.3218	-	~~238,262.35~~-	-238,068.71	~~802~~919,~~985~~698.6789
		% Balance		0.4657%	0.00%	0.2000%	0.0020%	0.6678%
		# Loans		23	-	1-	-1	34
		% # Loans		0.2843%	0.00%	0.1400%	0.0014%	0.4257%
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		~~564~~681,~~723~~630.3218	1989,~~145,778~~462.2646	~~621~~814,~~843~~378.5681	1,~~137~~596,~~273~~680.4036	34,~~469~~082,~~618~~151.5481
		% Balance		0.4657%	0.9483%	0.5169%	01.9335%	23.8444%
		# Loans		23	67	4	912	2126
		% # Loans		0.2843%	01.8400%	0.5657%	1.2672%	23.9472%
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 27				© COPYRIGHT 2003 Deutsche Bank
				Page 13 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Group 3 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			37,~~583~~282,~~443~~412.8793	32,~~007~~392,~~643~~601.6708	2,~~284~~290,~~617~~896.8495	811,~~875~~965,~~705~~910.3896
		% Balance			01.8272%	0.6956%	0.5354%	2.0482%
		# Loans			2131	1615	14	5160
		% # Loans			01.9543%	0.7269%	0.6365%	2.3178%
FORECLOSURE		Balance		-	~~160,932.18~~-	-	13,~~166~~444,~~032~~494.4800	13,~~326~~444,~~964~~494.6600
		% Balance		0.00%	0.0400%	0.00%	0.2781%	0.3081%
		# Loans		-	1-	-	720	820
		% # Loans		0.00%	0.0500%	0.00%	0.3293%	0.3693%
BANKRUPTCY		Balance		1,~~067~~500,~~163~~814.3354	88138,~~865~~868.8945	67156,~~784~~547.3787	-	1,~~223~~796,~~813~~230.5986
		% Balance		0.2535%	0.0203%	0.0204%	0.00%	0.2842%
		# Loans		78	12	12	-	912
		% # Loans		0.3237%	0.0509%	0.0509%	0.00%	0.4156%
REO		Balance		-	-	-	-62,730.63	-62,730.63
		% Balance		0.00%	0.00%	0.00%	0.0001%	0.0001%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0005%	0.0005%
TOTAL		Balance		1,~~067~~500,~~163~~814.3354	37,~~833~~421,~~241~~281.9438	32,~~075~~549,~~428~~148.0495	35,~~450~~798,~~650~~121.3258	1117,~~426~~269,~~483~~366.6345
		% Balance		0.2535%	01.8875%	0.7160%	01.7937%	24.6307%
		# Loans		78	2333	17	2135	6893
		% # Loans		0.3237%	1.0453%	0.7779%	01.9562%	34.0830%
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 14 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 14 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	REO Report for October 27, 2003 Distribution
	REO Report for November 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 Loan Count = 1				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 000.00
Total Original Principal Balance = 63,000.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 000.00				Loan Group 3 = Group 3 Group; REO Book Value = 000.00
Total Current Balance = 62,730.63				Loan Group 3 = Group 3 Group; REO Book Value = Not Available
REO Book Value = 000.00
REO Book Value = Not Available
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
43665918 3		63,000.00	62,730.63	Apr-01-03	9.900%	MI - 70.00%	360	Feb-24-03
				Page 15 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 15 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Foreclosure Report for October 27, 2003 Distribution
	Foreclosure Report for November 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 6				Loan Group 1 = Group 1 Group
Total Loan Count = 34				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 992,250.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 5,461,265.00				Loan Group 2 = Group 2 Group
Total Current Balance = 987,354.03				Loan Group 3 = Group 3 Group
Total Current Balance = 5,437,012.83				Loan Group 3 = Group 3 Group
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
38447157 1		281,000.00	278,490.21	May-01-03	7.200%	MA - 63.86%	360	Oct-02-02
42213322 1		79,900.00	79,566.49	May-01-03	9.350%	OK - 85.00%	360	Feb-27-03
43203348 1		104,000.00	103,662.74	Apr-01-03	9.900%	MI - 80.00%	360	Feb-25-03
42429464 1		193,500.00	192,700.66	Mar-01-03	9.400%	IL - 90.00%	360	Feb-27-03
45126612 2		61,750.00	61,541.61	May-01-03	8.950%	MO - 95.00%	360	Mar-31-03
43160647 1		261,000.00	259,536.86	May-01-03	7.900%	CA - 90.00%	360	Feb-20-03
43912815 3		122,500.00	122,135.06	May-01-03	9.550%	MI - 70.00%	360	Mar-31-03
43507409 1		81,900.00	81,608.14	May-01-03	9.450%	UT - 90.00%	360	Mar-05-03
44277259 3		63,000.00	62,816.19	May-01-03	9.650%	MO - 90.00%	360	Mar-27-03
43579820 1		180,000.00	179,365.30	Jun-01-03	9.500%	IL - 90.00%	360	Mar-11-03
44690386 3		360,000.00	358,708.22	Apr-01-03	8.650%	MI - 90.00%	360	Mar-19-03
43793124 1		171,500.00	170,576.29	May-01-03	8.100%	MN - 79.95%	360	Feb-27-03
				Page 16 of 27				© COPYRIGHT 2003 Deutsche Bank
43873959 1		300,000.00	298,473.65	May-01-03	7.700%	NY - 80.00%	360	Mar-14-03
44461705 1		260,000.00	259,102.14	Jun-01-03	9.600%	IL - 58.43%	360	Mar-31-03
44504355 1		192,600.00	191,648.92	Jun-01-03	7.850%	MN - 90.00%	360	Mar-26-03
44671204 1		172,900.00	172,150.99	Jun-01-03	8.500%	AZ - 95.00%	360	Mar-19-03
44675106 1		216,750.00	215,879.66	May-01-03	9.550%	MI - 85.00%	360	Mar-28-03
44845097 1		272,000.00	271,309.55	May-01-03	11.050%	OH - 80.00%	360	Mar-28-03
45181526 1		91,200.00	90,758.56	Apr-01-03	7.950%	IL - 95.00%	360	Mar-25-03
45369451 1		133,000.00	132,215.72	May-01-03	6.950%	CA - 95.00%	360	Mar-31-03
45451960 1		83,000.00	82,675.22	Jun-01-03	9.000%	MI - 78.30%	360	Mar-31-03
43432665 2		75,200.00	74,821.03	Jun-01-03	8.950%	MO - 80.00%	360	Feb-28-03
43812841 2		102,000.00	101,461.57	May-01-03	8.200%	CO - 85.00%	360	Feb-24-03
44192102 2		94,500.00	93,128.03	May-01-03	10.200%	IL - 90.00%	180	Apr-04-03
44782290 2		76,500.00	76,164.66	May-01-03	8.450%	OH - 85.00%	360	Mar-31-03
45481454 2		72,250.00	71,937.03	May-01-03	8.500%	OH - 85.00%	360	Mar-31-03
43225838 3		212,500.00	211,803.61	May-01-03	9.850%	IL - 85.00%	360	Mar-21-03
43540988 3		182,750.00	182,245.34	Apr-01-03	11.300%	NJ - 85.00%	360	Feb-28-03
43701390 3		66,300.00	66,053.72	Apr-01-03	9.250%	TN - 78.00%	360	Mar-07-03
43999606 3		136,000.00	135,524.85	Apr-01-03	10.200%	NJ - 85.00%	360	Feb-28-03
44422079 3		66,600.00	66,327.11	May-01-03	9.450%	MO - 90.00%	360	Mar-11-03
44610582 3		107,865.00	107,383.31	May-01-03	8.350%	CO - 85.00%	360	Mar-21-03
44665156 3		126,000.00	125,390.10	May-01-03	7.950%	IL - 90.00%	360	Mar-28-03
44807634 3		64,000.00	63,828.55	Jun-01-03	10.800%	IN - 80.00%	360	Mar-20-03
44908101 3		369,000.00	367,019.96	Jun-01-03	8.050%	IL - 90.00%	360	Mar-31-03
44920874 3		69,300.00	68,999.79	May-01-03	8.500%	FL - 90.00%	360	Mar-18-03
44978625 3		274,500.00	273,369.96	Jun-01-03	8.750%	CA - 90.00%	360	Mar-26-03
45190949 3		338,000.00	336,622.76	May-01-03	8.800%	NV - 89.89%	360	Mar-31-03
45323425 3		263,700.00	262,614.46	Apr-01-03	8.750%	TN - 90.00%	360	Mar-24-03
46232997 3		75,050.00	74,748.84	Jun-01-03	8.100%	AL - 95.00%	360	Apr-10-03
				Page 16 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans				3946	1316	2637	7899
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				3946	1316	2637	7899
	Paid in Full Balance				810,~~886~~588,~~427~~736.2748	23,~~281~~220,~~334~~177.5093	57,~~347~~135,~~042~~341.4139	1620,~~514~~944,~~804~~255.1880
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				2515,~~094~~369.3017	42,~~912~~990.2930	177,~~747~~128.6873	4725,~~754~~488.2720
	Total Prepayment Amount				810,~~911~~604,~~521~~105.5765	23,~~286~~223,~~246~~168.7923	57,~~364~~142,~~790~~470.0912	1620,~~562~~969,~~558~~744.4500
	Cumulative
	Number of Paid in Full Loans				90136	3349	99136	~~222~~321
	Number of Repurchased Loans				6	2	4	12
	Total Number of Loans Prepaid in Full				96142	3551	~~103~~140	~~234~~333
	Paid in Full Balance				2031,~~665~~254,~~440~~177.6513	69,~~204~~424,~~044~~222.6457	1926,~~461~~597,~~808~~149.0140	4667,~~331~~275,~~293~~549.3010
	Repurchased Loans Balance				1,260,085.65	301,432.03	497,880.83	2,059,398.51
	Curtailments Amount				~~149~~164,~~334~~703.0623	3235,~~111~~101.3666	~~341~~348,~~540~~669.2700	~~522~~548,~~985~~473.6989
	Total Prepayment Amount				2232,~~074~~678,~~860~~966.3601	69,~~537~~760,~~588~~756.0326	2027,~~301~~443,~~229~~699.1123	4869,~~913~~883,~~677~~421.50
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 17 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 17 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	SMM				2.0144%	12.8464%	1.3683%	12.7222%
	3 Months Avg SMM				1.1983%	1.2987%	1.3050%	1.2570%
	12 Months Avg SMM
	Avg SMM Since Cut-off				01.9823%	1.0431%	1.0115%	1.0020%
	CPR				2125.5964%	1927.9750%	1519.1290%	1823.7857%
	3 Months Avg CPR				1319.3891%	1420.4730%	1416.58%	1418.0261%
	12 Months Avg CPR
	Avg CPR Since Cut-off				1113.1978%	1114.7661%	1112.4592%	1113.3753%
	PSA				~~1751~~1788.4685%	~~1605~~1905.9313%	~~1185~~1349.4561%	~~1500~~1623.3082%
	3 Months Avg PSA Approximation				~~1294~~1614.4051%	~~1386~~1632.2162%	~~1355~~1300.2731%	~~1332~~1486.0430%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				~~1341~~1475.9679%	~~1393~~1547.7228%	~~1306~~1323.3534%	~~1333~~1420.5366%
	Group 1		Group 3
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 18 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1		Group 3
	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 19 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 19 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 78						Loan Group 1 = Group 1 Group
Total Loan Count = 99						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 16,583,961.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 21,047,226.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 16,514,804.18						Loan Group 3 = Group 3 Group
Total Prepayment Amount = 20,944,255.80						Loan Group 3 = Group 3 Group
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
38565776 1			225,250.00	223,564.77	Oct-02-03	8.100%	NY - 85.00%	Paid Off - 360	Oct-03-02
39689278 1			152,000.00	150,957.93	Nov-05-03	8.500%	CA - 76.77%	Paid Off - 360	Nov-15-02
39279492 1			170,000.00	168,847.64	Oct-01-03	8.100%	FL - 85.00%	Paid Off - 360	Oct-18-02
41420720 1			268,000.00	265,707.01	Nov-03-03	6.350%	MA - 72.43%	Paid Off - 360	Dec-20-02
42152975 1			176,000.00	175,332.09	Sep-22-03	7.450%	NH - 80.00%	Paid Off - 360	Mar-18-03
41436742 1			135,000.00	134,490.22	Nov-04-03	8.400%	NY - 90.00%	Paid Off - 360	Mar-14-03
43129188 1			211,500.00	210,632.46	Sep-18-03	7.990%	NY - 90.00%	Paid Off - 360	Feb-20-03
41941121 1			144,000.00	143,333.79	Oct-29-03	8.850%	CA - 80.00%	Paid Off - 360	Jan-14-03
43303643 1			152,000.00	150,755.48	Oct-08-03	8.900%	CA - 80.00%	Paid Off - 360	Feb-28-03
42520692 1			400,000.00	398,154.64	Nov-05-03	7.400%	CT - 89.69%	Paid Off - 360	Mar-24-03
43305598 1			285,000.00	283,605.20	Oct-10-03	7.100%	CA - 73.08%	Paid Off - 360	Feb-27-03
42974857 1			232,000.00	230,886.67	Oct-17-03	7.200%	CA - 80.00%	Paid Off - 360	Mar-17-03
43407089 1			255,000.00	253,664.01	Sep-15-03	6.750%	CA - 78.46%	Paid Off - 360	Feb-25-03
43256163 1			224,250.00	222,848.64	Oct-24-03	6.650%	NY - 65.00%	Paid Off - 360	Feb-12-03
43623388 1			290,000.00	288,859.49	Sep-29-03	8.200%	CA - 87.88%	Paid Off - 360	Feb-27-03
43261221 1			189,000.00	188,189.57	Nov-05-03	8.550%	NY - 90.00%	Paid Off - 360	Feb-13-03
43827112 1			147,000.00	146,366.29	Oct-01-03	7.750%	MN - 84.00%	Paid Off - 360	Feb-28-03
43374560 1			216,500.00	215,460.42	Oct-22-03	7.990%	CA - 84.90%	Paid Off - 360	Mar-06-03
43844745 1			125,000.00	124,539.54	Oct-02-03	7.600%	ME - 83.33%	Paid Off - 360	Mar-27-03
43392638 1			191,250.00	190,556.74	Oct-17-03	9.500%	IL - 85.00%	Paid Off - 360	Mar-14-03
43895275 1			155,250.00	154,777.84	Oct-02-03	8.550%	NJ - 90.00%	Paid Off - 360	Mar-10-03
43470301 1			122,550.00	121,949.91	Nov-04-03	7.100%	IL - 95.00%	Paid Off - 360	Mar-17-03
43906262 1			173,000.00	172,289.64	Oct-06-03	7.050%	MN - 89.87%	Paid Off - 360	Mar-10-03
43497460 1			201,000.00	199,869.79	Oct-28-03	7.200%	CA - 59.12%	Paid Off - 360	Feb-21-03
44091213 1			387,000.00	384,709.74	Oct-02-03	8.150%	HI - 90.00%	Paid Off - 360	Mar-07-03
43519222 1			195,500.00	194,879.21	Nov-03-03	10.000%	IL - 85.00%	Paid Off - 360	Feb-19-03
44107571 1			98,000.00	97,605.09	Oct-02-03	8.650%	WI - 70.00%	Paid Off - 360	Mar-21-03
43559475 1			267,000.00	265,627.99	Nov-03-03	7.650%	CA - 73.15%	Paid Off - 360	Mar-06-03
44188860 1			297,500.00	296,595.30	Sep-24-03	8.550%	NY - 85.00%	Paid Off - 360	Mar-07-03
43561380 1			169,650.00	168,793.98	Oct-29-03	6.950%	CA - 65.00%	Paid Off - 360	Mar-31-03
44217404 1			128,100.00	127,706.43	Sep-16-03	8.500%	OR - 70.00%	Paid Off - 360	Mar-31-03
43598168 1			164,000.00	163,158.44	Oct-28-03	7.750%	MN - 89.62%	Paid Off - 360	Feb-21-03
44249290 1			209,000.00	208,072.27	Sep-23-03	6.650%	MN - 95.00%	Paid Off - 360	Mar-07-03
43644731 1			198,000.00	196,774.50	Oct-22-03	6.700%	MA - 69.97%	Paid Off - 360	Feb-26-03
44251239 1			180,200.00	179,542.81	Sep-25-03	7.650%	CA - 85.00%	Paid Off - 360	Mar-07-03
43774439 1			150,000.00	149,622.52	Nov-03-03	10.350%	CA - 68.18%	Paid Off - 360	Mar-14-03
44323426 1			202,500.00	201,626.91	Sep-29-03	6.800%	NY - 90.00%	Paid Off - 360	Mar-05-03
43780766 1			265,500.00	261,924.27	Nov-05-03	7.490%	CA - 90.00%	Paid Off - 360	Feb-21-03
44363638 1			288,000.00	287,002.12	Oct-01-03	7.990%	CA - 90.00%	Paid Off - 360	Mar-11-03
43883321 1			120,750.00	120,165.53	Nov-04-03	7.950%	FL - 75.00%	Paid Off - 360	Feb-26-03
44377208 1			225,000.00	224,039.26	Sep-22-03	6.850%	CA - 72.58%	Paid Off - 360	Mar-12-03
43885144 1			94,000.00	93,637.80	Oct-29-03	8.300%	MI - 62.25%	Paid Off - 360	Mar-05-03
44625598 1			204,000.00	203,256.02	Oct-01-03	7.650%	WA - 68.69%	Paid Off - 360	Mar-19-03
43886654 1			84,150.00	83,807.09	Oct-28-03	8.800%	OH - 90.00%	Paid Off - 360	Feb-24-03
44717957 1			125,100.00	124,691.45	Sep-23-03	8.200%	FL - 90.00%	Paid Off - 360	Mar-14-03
43941228 1			168,000.00	167,161.61	Oct-31-03	7.000%	NY - 80.00%	Paid Off - 360	Mar-25-03
44819993 1			391,000.00	389,456.37	Sep-22-03	7.250%	CA - 85.00%	Paid Off - 360	Mar-19-03
44079309 1			92,150.00	91,746.68	Nov-04-03	8.450%	CA - 95.00%	Paid Off - 360	Mar-04-03
44933547 1			195,300.00	194,706.06	Oct-02-03	8.550%	MN - 90.00%	Paid Off - 360	Mar-25-03
44093235 1			104,400.00	103,896.20	Oct-15-03	9.100%	NH - 90.00%	Paid Off - 360	Mar-03-03
45143799 1			75,000.00	74,798.13	Sep-22-03	8.050%	OH - 74.26%	Paid Off - 360	Apr-07-03
44515708 1			183,000.00	182,262.14	Oct-28-03	8.250%	UT - 83.95%	Paid Off - 360	Mar-11-03
43376425 2			233,750.00	233,101.93	Sep-30-03	9.000%	MA - 85.00%	Paid Off - 360	Mar-19-03
44566792 1			90,000.00	89,693.15	Nov-06-03	8.900%	MI - 90.00%	Paid Off - 360	Mar-21-03
43386176 2			147,250.00	146,478.48	Sep-18-03	6.750%	CA - 95.00%	Paid Off - 360	Feb-28-03
44605541 1			210,000.00	209,230.89	Oct-30-03	8.550%	NY - 75.00%	Paid Off - 360	Mar-15-03
43576628 2			220,000.00	219,426.84	Sep-22-03	9.300%	MA - 80.00%	Paid Off - 360	Mar-17-03
44611796 1			140,250.00	139,550.06	Oct-14-03	7.000%	MN - 85.00%	Paid Off - 360	Mar-21-03
43729383 2			108,000.00	107,691.45	Sep-26-03	9.750%	MN - 78.83%	Paid Off - 360	Feb-20-03
44674976 1			286,450.00	285,153.38	Nov-07-03	7.500%	CA - 85.00%	Paid Off - 360	Mar-27-03
43769041 2			101,700.00	101,310.18	Sep-16-03	7.400%	OH - 90.00%	Paid Off - 360	Mar-03-03
44678563 1			162,400.00	161,665.44	Oct-15-03	7.500%	NY - 80.00%	Paid Off - 360	Mar-19-03
43793975 2			169,550.00	169,044.82	Oct-06-03	8.650%	NV - 90.00%	Paid Off - 360	Mar-28-03
44745412 1			217,500.00	216,766.12	Oct-30-03	8.950%	RI - 79.09%	Paid Off - 360	Mar-19-03
43949536 2			162,000.00	161,281.61	Oct-06-03	7.600%	CA - 90.00%	Paid Off - 360	Feb-26-03
44934032 1			450,000.00	447,767.39	Nov-04-03	7.150%	CA - 78.95%	Paid Off - 360	Mar-27-03
44120855 2			296,100.00	294,747.01	Oct-10-03	6.500%	CA - 90.00%	Paid Off - 360	Mar-27-03
45230430 1			301,750.00	300,599.00	Oct-31-03	8.350%	CO - 85.00%	Paid Off - 360	Mar-25-03
44229243 2			178,500.00	177,855.47	Oct-08-03	7.700%	MN - 85.00%	Paid Off - 360	Mar-21-03
45527173 1			240,000.00	238,995.03	Oct-13-03	6.950%	MD - 75.00%	Paid Off - 360	Apr-04-03
44396208 2			247,500.00	246,541.98	Oct-06-03	7.350%	CA - 75.00%	Paid Off - 360	Mar-24-03
45613452 1			280,000.00	278,643.10	Oct-27-03	7.150%	CA - 79.10%	Paid Off - 360	Mar-31-03
44769966 2			225,000.00	224,219.44	Sep-23-03	7.900%	CA - 90.00%	Paid Off - 360	Mar-25-03
46126751 1			61,600.00	61,414.54	Oct-27-03	8.600%	MI - 70.00%	Paid Off - 360	Apr-23-03
45121522 2			120,800.00	119,980.80	Oct-09-03	9.900%	CA - 80.00%	Paid Off - 240	Mar-24-03
42255893 2			215,000.00	214,039.84	Oct-22-03	8.350%	MA - 60.56%	Paid Off - 360	Mar-11-03
45193513 2			79,900.00	79,654.49	Sep-22-03	8.500%	TX - 85.00%	Paid Off - 360	Mar-28-03
42669218 2			189,000.00	187,732.51	Nov-07-03	6.990%	CA - 75.00%	Paid Off - 360	Feb-07-03
41524224 3			332,000.00	330,042.81	Sep-30-03	7.650%	CA - 80.00%	Paid Off - 360	Dec-18-02
43281757 2			397,800.00	396,397.35	Oct-29-03	9.500%	MA - 85.00%	Paid Off - 360	Feb-28-03
41734864 3			400,000.00	398,520.05	Sep-23-03	8.500%	UT - 88.89%	Paid Off - 360	Feb-26-03
43665876 2			270,000.00	268,814.60	Oct-15-03	7.650%	MA - 90.00%	Paid Off - 360	Mar-20-03
42034645 3			460,700.00	458,553.49	Oct-02-03	7.350%	ID - 85.00%	Paid Off - 360	Feb-26-03
44160380 2			86,000.00	85,629.84	Oct-20-03	7.750%	MO - 87.76%	Paid Off - 360	Mar-07-03
42841254 3			465,000.00	462,259.74	Sep-26-03	6.500%	CA - 90.29%	Paid Off - 360	Feb-13-03
44320075 2			258,000.00	255,773.95	Nov-06-03	8.800%	MA - 73.71%	Paid Off - 360	Apr-02-03
42896977 3			446,250.00	444,681.13	Sep-29-03	8.750%	MA - 85.00%	Paid Off - 360	Feb-27-03
44384162 2			80,750.00	80,409.31	Nov-10-03	7.850%	FL - 95.00%	Paid Off - 360	Mar-27-03
					Page 20 of 27				© COPYRIGHT 2003 Deutsche Bank
					Page 20 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
42979963 3			94,500.00	93,970.27	Oct-01-03	6.400%	OH - 90.00%	Paid Off - 360	Feb-20-03
44462901 2			196,000.00	194,973.10	Nov-05-03	6.750%	CA - 81.67%	Paid Off - 360	Mar-17-03
43053230 3			95,400.00	95,050.61	Oct-09-03	8.550%	FL - 90.00%	Paid Off - 360	Feb-28-03
44856417 2			284,000.00	282,752.47	Nov-03-03	7.650%	WA - 81.14%	Paid Off - 360	Mar-31-03
43185339 3			92,250.00	91,994.59	Sep-11-03	9.900%	FL - 75.00%	Paid Off - 360	Feb-19-03
44883999 2			218,500.00	217,842.23	Nov-06-03	9.500%	NM - 95.00%	Paid Off - 360	Mar-21-03
43310945 3			386,750.00	384,816.13	Sep-16-03	6.990%	MN - 85.00%	Paid Off - 360	Feb-18-03
44931673 2			178,500.00	176,866.02	Oct-31-03	9.000%	NY - 85.00%	Paid Off - 240	Mar-24-03
43456664 3			162,400.00	161,829.03	Oct-02-03	8.750%	CA - 80.00%	Paid Off - 360	Feb-27-03
44982072 2			124,300.00	123,396.04	Nov-06-03	9.350%	MO - 55.00%	Paid Off - 240	Apr-02-03
43490911 3			81,000.00	80,651.35	Sep-22-03	7.750%	NH - 52.94%	Paid Off - 360	Feb-19-03
44991289 2			155,800.00	154,959.69	Nov-03-03	6.600%	CA - 95.00%	Paid Off - 360	Mar-26-03
43585835 3			78,300.00	77,956.23	Sep-24-03	7.650%	WA - 87.29%	Paid Off - 360	Feb-24-03
45081114 2			221,250.00	220,508.12	Oct-28-03	8.990%	CA - 75.00%	Paid Off - 360	Mar-25-03
43590975 3			85,000.00	84,681.80	Sep-24-03	7.550%	MI - 68.00%	Paid Off - 360	Mar-05-03
45552361 2			202,500.00	201,251.83	Oct-21-03	5.900%	CA - 90.00%	Paid Off - 360	Mar-31-03
43775550 3			487,500.00	485,559.93	Oct-02-03	7.800%	CA - 65.00%	Paid Off - 360	Mar-18-03
45565025 2			160,000.00	158,831.03	Oct-30-03	6.250%	CA - 86.49%	Paid Off - 360	Mar-31-03
43909175 3			213,000.00	212,277.38	Sep-30-03	8.950%	CO - 78.89%	Paid Off - 360	Feb-26-03
38152583 3			146,250.00	145,265.83	Oct-28-03	9.350%	MI - 58.97%	Paid Off - 360	Oct-02-02
44012995 3			395,500.00	393,564.48	Oct-06-03	7.100%	CA - 70.00%	Paid Off - 360	Mar-19-03
42383745 3			238,400.00	237,377.83	Nov-05-03	8.800%	CA - 80.00%	Paid Off - 360	Feb-26-03
44102192 3			371,000.00	369,384.81	Oct-07-03	6.750%	FL - 70.00%	Paid Off - 360	Mar-10-03
43052463 3			92,400.00	92,040.29	Nov-10-03	8.250%	MN - 68.96%	Paid Off - 360	Mar-26-03
44115236 3			88,949.00	88,675.54	Oct-01-03	9.400%	IN - 90.00%	Paid Off - 360	Feb-28-03
43077742 3			166,250.00	165,576.21	Oct-29-03	8.050%	MA - 95.00%	Paid Off - 360	Mar-07-03
44122448 3			246,500.00	245,742.66	Sep-22-03	8.500%	CA - 85.00%	Paid Off - 360	Mar-27-03
43134956 3			255,000.00	253,263.16	Oct-15-03	6.200%	CA - 85.00%	Paid Off - 360	Feb-19-03
44201598 3			87,750.00	87,408.43	Sep-12-03	8.250%	FL - 75.00%	Paid Off - 360	Feb-28-03
43241074 3			167,875.00	167,094.42	Oct-29-03	8.150%	MI - 85.00%	Paid Off - 360	Feb-26-03
44243145 3			164,900.00	164,274.20	Sep-16-03	7.450%	NJ - 78.52%	Paid Off - 360	Mar-21-03
43436336 3			458,000.00	455,715.78	Oct-27-03	7.800%	CA - 79.65%	Paid Off - 360	Feb-28-03
44392595 3			110,500.00	110,041.79	Sep-16-03	7.000%	CA - 64.24%	Paid Off - 360	Mar-31-03
43601053 3			98,600.00	98,318.30	Nov-10-03	9.750%	IL - 85.00%	Paid Off - 360	Mar-31-03
44482057 3			500,000.00	498,212.54	Oct-09-03	7.750%	MN - 71.43%	Paid Off - 360	Mar-26-03
43603463 3			116,875.00	116,558.19	Nov-04-03	10.000%	IL - 85.00%	Paid Off - 360	Mar-31-03
44504678 3			415,000.00	413,092.94	Sep-24-03	6.500%	KS - 84.69%	Paid Off - 360	Mar-19-03
43633965 3			73,500.00	73,275.97	Oct-31-03	10.200%	WI - 75.00%	Paid Off - 360	Feb-28-03
44631745 3			123,600.00	123,121.57	Sep-26-03	7.350%	CA - 89.94%	Paid Off - 360	Mar-14-03
43697242 3			335,000.00	333,592.48	Oct-29-03	8.650%	CA - 72.51%	Paid Off - 360	Feb-27-03
44660967 3			159,250.00	159,009.42	Oct-07-03	11.850%	MN - 65.00%	Paid Off - 360	Mar-31-03
43704154 3			400,000.00	397,985.08	Oct-21-03	7.750%	NJ - 88.89%	Paid Off - 360	Feb-28-03
44679439 3			60,000.00	59,506.98	Oct-02-03	10.000%	OK - 54.55%	Paid Off - 360	Mar-31-03
43830033 3			60,300.00	60,040.17	Oct-23-03	7.750%	WA - 90.00%	Paid Off - 360	Mar-25-03
44763357 3			133,000.00	132,630.47	Oct-06-03	8.990%	CA - 71.89%	Paid Off - 360	Mar-27-03
43910033 3			190,800.00	189,945.52	Oct-23-03	7.550%	CA - 90.00%	Paid Off - 360	Mar-14-03
44843175 3			95,200.00	94,812.88	Oct-09-03	7.100%	CA - 80.00%	Paid Off - 360	Mar-26-03
43944321 3			365,000.00	363,901.28	Nov-10-03	8.600%	CA - 57.03%	Paid Off - 360	Apr-14-03
44851152 3			144,000.00	143,647.61	Oct-01-03	9.600%	IL - 80.00%	Paid Off - 360	Mar-25-03
44001816 3			252,000.00	251,185.37	Oct-29-03	8.250%	NJ - 90.00%	Paid Off - 360	Apr-10-03
44909638 3			110,000.00	109,534.39	Sep-30-03	6.900%	MA - 55.28%	Paid Off - 360	Mar-28-03
44017739 3			110,000.00	109,601.19	Nov-05-03	8.600%	MN - 57.00%	Paid Off - 360	Mar-26-03
45022605 3			346,500.00	344,991.43	Sep-17-03	6.750%	CA - 90.00%	Paid Off - 360	Mar-24-03
44022671 3			279,000.00	277,722.08	Oct-15-03	7.650%	CA - 90.00%	Paid Off - 360	Mar-27-03
45103629 3			346,500.00	345,693.80	Oct-08-03	8.750%	MA - 90.00%	Paid Off - 360	Apr-11-03
44132413 3			211,850.00	211,300.47	Nov-04-03	10.250%	NY - 95.00%	Paid Off - 360	Mar-24-03
45214194 3			180,500.00	179,973.11	Sep-15-03	8.750%	IL - 95.00%	Paid Off - 360	Mar-31-03
44176485 3			357,000.00	354,940.87	Oct-16-03	6.250%	CA - 85.00%	Paid Off - 360	Mar-20-03
45335825 3			84,000.00	83,720.09	Sep-26-03	8.100%	CA - 84.85%	Paid Off - 360	Mar-31-03
44303071 3			158,906.00	158,293.70	Nov-04-03	8.300%	MN - 95.00%	Paid Off - 360	Mar-07-03
45456506 3			131,512.00	131,190.17	Sep-16-03	9.600%	NY - 75.00%	Paid Off - 360	Mar-31-03
44329621 3			332,500.00	331,334.93	Oct-24-03	7.850%	IL - 95.00%	Paid Off - 360	Apr-04-03
45489226 3			142,000.00	141,565.96	Sep-16-03	7.400%	FL - 67.62%	Paid Off - 360	Apr-09-03
44428811 3			101,725.00	101,434.29	Nov-10-03	9.750%	FL - 65.00%	Paid Off - 360	Mar-21-03
45696069 3			127,000.00	125,487.35	Oct-01-03	7.300%	OH - 84.11%	Paid Off - 240	Apr-07-03
44483063 3			253,800.00	251,843.11	Nov-04-03	7.550%	NJ - 90.00%	Paid Off - 360	Apr-08-03
46199113 3			480,000.00	478,300.11	Sep-15-03	6.650%	NY - 84.96%	Paid Off - 360	Apr-17-03
44490571 3			149,400.00	148,787.14	Oct-16-03	7.990%	NV - 90.00%	Paid Off - 360	Mar-27-03
					Page 21 of 27				© COPYRIGHT 2003 Deutsche Bank
44493450 3			465,000.00	462,854.75	Nov-05-03	7.400%	CA - 66.43%	Paid Off - 360	Mar-25-03
44504421 3			424,042.00	422,306.16	Oct-23-03	8.000%	CA - 90.00%	Paid Off - 360	Mar-27-03
44726388 3			96,000.00	95,689.67	Nov-03-03	8.250%	CA - 80.00%	Paid Off - 360	Apr-11-03
44760270 3			389,500.00	387,823.69	Oct-29-03	7.750%	CA - 95.00%	Paid Off - 360	Mar-28-03
44840007 3			129,600.00	129,220.96	Nov-10-03	9.700%	MD - 80.00%	Paid Off - 360	Mar-24-03
44864155 3			171,950.00	171,387.51	Oct-30-03	9.100%	CA - 95.00%	Paid Off - 360	Mar-21-03
44899144 3			346,500.00	341,954.84	Oct-24-03	6.050%	CA - 90.00%	Paid Off - 240	Mar-31-03
44923837 3			283,000.00	281,515.80	Oct-29-03	6.750%	CA - 84.99%	Paid Off - 360	Mar-28-03
45007853 3			251,750.00	250,666.53	Oct-17-03	7.750%	IL - 95.00%	Paid Off - 360	Mar-26-03
45012275 3			365,553.00	364,368.26	Oct-20-03	8.900%	IL - 95.00%	Paid Off - 360	Apr-11-03
45075819 3			169,200.00	168,497.65	Nov-07-03	8.050%	MN - 90.00%	Paid Off - 360	Mar-31-03
45132735 3			73,800.00	73,521.32	Oct-17-03	8.400%	OH - 90.00%	Paid Off - 360	Mar-26-03
45210283 3			499,500.00	497,007.25	Oct-24-03	7.000%	CA - 90.00%	Paid Off - 360	Mar-28-03
45269537 3			205,000.00	203,974.93	Oct-30-03	6.990%	CA - 74.55%	Paid Off - 360	Mar-28-03
45364627 3			264,000.00	262,433.23	Oct-29-03	6.100%	CA - 80.00%	Paid Off - 360	Mar-28-03
45521069 3			499,500.00	497,413.78	Oct-30-03	7.900%	IL - 90.00%	Paid Off - 360	Mar-31-03
45547213 3			70,650.00	70,448.12	Nov-04-03	9.750%	IA - 90.00%	Paid Off - 360	Apr-04-03
45609104 3			163,800.00	163,080.84	Oct-14-03	7.650%	NV - 90.00%	Paid Off - 360	Mar-31-03
					Page 21 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
45622370 3			140,250.00	139,782.68	Oct-22-03	8.100%	MA - 75.00%	Paid Off - 360	Apr-09-03
45848751 3			70,500.00	70,331.07	Oct-20-03	9.700%	FL - 75.00%	Paid Off - 360	Apr-09-03
45893369 3			188,700.00	188,063.78	Nov-04-03	8.050%	IL - 85.00%	Paid Off - 360	Apr-15-03
					Page 22 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					GROUP 3	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		Group 3				3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 22 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 23 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR				0.00%	0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR				0.00%	0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation				0.00%	0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	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 3
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 23 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 24 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report for November 25, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1		Group 3
	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 24 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 25 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for October 27, 2003 Distribution
	Realized Loss Detail Report for November 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						Loan Group 3 = Group 3 Group
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 25 of 27				© COPYRIGHT 2003 Deutsche Bank
					Page 26 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for October 27, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for November 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					GROUP 3	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))							2.0261%
	(x) 60+ Day Delinq. Loans (incl. FCLs, REOs & BKs)							1924,~~089~~115,~~235~~314.0266
	(y) Stated Principal Balance of the Mortgage Loans							~~947~~925,~~281~~570,~~739~~860.2810
	(B) 51% of Credit Enhancement Percentage							8.~~3449~~5407%
	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							999,998,766.19
	(B) Applicable Percentage							100.0000%
	Credit Enhancement Percentage							16.~~3626~~7464%
ADJUSTABLE RATE CERTIFICATE INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
				Page 26 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 27 of 28				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR2
	Mortgage Pass-Through Certificates
	Other Related Information for October 27, 2003 Distribution
	Other Related Information for November 25, 2003 Distribution
	Other Related Information
ADDITIONAL INFORMATION					GROUP 3	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 A-3							0.00
	Net WAC Rate Carryover Amt: Class A-4							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							0.00
	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 A-3 Unpaid							0.00
	Net WAC Rate Carryover Amt: Class A-4 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
				Page 27 of 27				© COPYRIGHT 2003 Deutsche Bank
				Page 28 of 28				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · AMERIQUEST MORT SEC INC ASSET BACK PS THR CERTS SER 2003-AR2