8-K 1 sam03ar1.txt JULY 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 21, 2003 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2003-AR1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-20 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On July 21, 2003 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2003-AR1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-AR1 Trust, relating to the July 21, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2003-AR1 Trust By: Wells Fargo Bank Minnesota, N.A as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-AR1 Trust, relating to the July 21, 2003 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 6/230/03 Distribution Date: 67/1921/03 SAM Series: 2003-AR1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 86358HRV3 SEN 1.~~69000~~46250% 230,~~624~~611,~~800~~635.0069 ~~205~~281,~~704~~057.5193 131,~~164~~084,234.3188 A-2 86358HRW1 SEN 3.~~33305~~28977% 8786,~~637~~543,~~500~~460.0020 ~~243~~237,~~416~~257.6403 12,~~094~~814,~~039~~540.8038 A-3 86358HRX9 SEN 1.~~74000~~51250% ~~132~~124,~~789~~904,~~900~~193.0043 ~~121~~157,~~945~~431.3933 75,~~885~~847,~~706~~775.5791 A-3M 86358HRY7 SEN 21.~~07000~~84250% 3,~~319~~122,~~800~~654.0022 34,~~626~~794.8858 ~~197~~146,~~145~~196.7871 A-4 86358HRZ4 SEN 3.~~39600~~29833% 3635,~~541~~582,~~400~~924.0037 ~~103~~97,~~412~~803.1652 ~~958~~1,~~475~~062,356.6388 A-5 86358HSA8 SEN 3.~~71000~~70800% 2019,~~424~~924,~~100~~121.0060 6361,~~144~~565.5154 ~~499~~679,~~978~~307.4060 X-1 86358HSB6 SEN 1.~~83089~~46069% 0.00 ~~701~~548,~~852~~325.0205 0.00 R-I 86358HSH3 RES 3.~~09548~~07952% 500.00 0.1300 500.00 R-II 86358HSJ9 RES 3.~~09548~~07952% 500.00 0.1300 500.00 R-III 86358HSK6 RES 3.~~09548~~07952% 500.00 0.1300 500.00 M 86358HSD2 MEZ 21.~~12000~~89250% 17,~~737~~726,~~400~~529.0039 1927,~~846~~956.1821 1011,~~870~~389.6163 B-1 86358HSE0 SUB 2.~~32000~~09250% 8,~~037~~032,~~300~~374.0023 914,~~841~~006.2345 45,~~925~~160.7795 B-2 86358HSF7 SUB 2.~~32000~~09250% 6,~~097~~093,~~300~~563.0018 710,~~465~~625.8165 3,~~736~~915.8223 B-3 86358HSG5 SUB 2.~~32000~~09250% 4,~~434~~431,~~400~~682.0032 57,~~429~~727.6875 2,~~717~~847.6844 B-4 86358HSL4 SUB 3.~~25544~~23839% 1,~~940~~938,~~000~~811.0004 5,~~262~~232.9619 1,~~188~~245.9672 B-5 86358HSM2 SUB 3.~~25544~~23839% 1,~~385~~384,~~700~~850.0075 3,~~759~~737.2224 ~~849~~889.2579 B-6 86358HSN0 SUB 3.~~25544~~23839% 3,~~325~~323,~~990~~951.3680 98,~~022~~970.9721 2,~~038~~135.5670 Totals ~~554~~543,~~295~~620,~~740~~752.3622 1,~~503~~466,~~730~~490.5568 1011,~~674~~661,~~988~~996.1482

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~230~~229,~~611~~527,~~635~~400.6981 ~~218~~1,~~868~~365,292.8281 0.00 A-2 0.00 8683,~~543~~728,~~460~~919.2082 13,~~337~~051,~~456~~797.4441 0.00 A-3 0.00 ~~124~~119,~~904~~056,~~193~~417.4353 86,~~007~~005,~~651~~207.9624 0.00 A-3M 0.00 32,~~122~~976,~~654~~457.2251 ~~200~~150,~~772~~991.6629 0.00 A-4 0.00 3534,~~582~~520,~~924~~567.3749 1,~~061~~160,~~887~~160.7940 0.00 A-5 0.00 19,~~924~~244,~~121~~813.6099 ~~563~~740,~~122~~873.9114 0.00 X-1 0.00 0.00 ~~701~~548,~~852~~325.0205 0.00 R-I 0.00 0.00 500.1300 0.00 R-II 0.00 0.00 500.1300 0.00 R-III 0.00 0.00 500.1300 0.00 M 0.00 17,~~726~~715,~~529~~139.3976 3039,~~716~~345.7984 0.00 B-1 0.00 8,~~032~~027,~~374~~213.2328 1419,~~767~~167.0040 0.00 B-2 0.00 6,~~093~~089,~~563~~647.1896 1114,~~202~~540.6388 0.00 B-3 0.00 4,~~431~~428,~~682~~834.3288 810,~~147~~575.3619 0.00 B-4 0.00 1,~~938~~937,~~811~~565.0432 6,~~451~~477.9291 0.00 B-5 0.00 1,~~384~~383,~~850~~960.7596 4,~~608~~627.4703 0.00 B-6 0.00 3,~~323~~321,~~951~~816.8010 11,~~061~~105.5391 0.00 Totals 0.00 ~~543~~531,~~620~~958,~~752~~755.2241 1213,~~178~~128,~~718~~487.6950 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 230,624,800.00 230,~~624~~611,~~800~~635.0069 070.0095 131,~~164~~084,163.3193 0.00 0.00 A-2 87,637,500.00 8786,~~637~~543,~~500~~460.0020 3029,~~081~~515.5844 12,~~063~~785,~~958~~024.2294 0.00 0.00 A-3 132,789,900.00 ~~132~~124,~~789~~904,~~900~~193.0043 ~~215~~213,~~256~~298.9564 75,~~670~~634,~~449~~477.6226 0.00 0.00 A-3M 3,319,800.00 3,~~319~~122,~~800~~654.0022 5,~~381~~332.5155 ~~191~~140,~~764~~864.2716 0.00 0.00 A-4 36,541,400.00 3635,~~541~~582,~~400~~924.0037 45,~~153~~226.0452 ~~913~~1,~~322~~017,130.5936 0.00 0.00 A-5 20,424,100.00 2019,~~424~~924,~~100~~121.0060 1719,~~506~~476.8737 ~~482~~659,~~471~~831.5323 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 R-I 50.00 500.00 0.00 500.00 0.00 0.00 R-II 50.00 500.00 0.00 500.00 0.00 0.00 R-III 50.00 500.00 0.00 500.00 0.00 0.00 M 17,737,400.00 17,~~737~~726,~~400~~529.0039 1011,~~870~~389.6163 0.00 0.00 0.00 B-1 8,037,300.00 8,~~037~~032,~~300~~374.0023 45,~~925~~160.7795 0.00 0.00 0.00 B-2 6,097,300.00 6,~~097~~093,~~300~~563.0018 3,~~736~~915.8223 0.00 0.00 0.00 B-3 4,434,400.00 4,~~434~~431,~~400~~682.0032 2,~~717~~847.6844 0.00 0.00 0.00 B-4 1,940,000.00 1,~~940~~938,~~000~~811.0004 1,~~188~~245.9672 0.00 0.00 0.00 B-5 1,385,700.00 1,~~385~~384,~~700~~850.0075 ~~849~~889.2579 0.00 0.00 0.00 B-6 3,325,990.36 3,~~325~~323,~~990~~951.3680 2,~~038~~135.5670 0.00 0.00 0.00 Totals 554,295,740.36 ~~554~~543,~~295~~620,~~740~~752.3622 ~~339~~340,~~707~~504.6093 1011,~~335~~321,~~280~~491.5488 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 131,~~164~~084,234.3188 ~~230~~229,~~611~~527,~~635~~400.6981 0.~~99994292~~99524163 131,~~164~~084,234.3188 A-2 12,~~094~~814,~~039~~540.8038 8683,~~543~~728,~~460~~919.2082 0.~~98751631~~95540060 12,~~094~~814,~~039~~540.8038 A-3 75,~~885~~847,~~706~~775.5791 ~~124~~119,~~904~~056,~~193~~417.4353 0.~~94061516~~89657736 75,~~885~~847,~~706~~775.5791 A-3M ~~197~~146,~~145~~196.7871 32,~~122~~976,~~654~~457.2251 0.~~94061516~~89657736 ~~197~~146,~~145~~196.7871 A-4 ~~958~~1,~~475~~062,356.6388 3534,~~582~~520,~~924~~567.3749 0.~~97377014~~94469745 ~~958~~1,~~475~~062,356.6388 A-5 ~~499~~679,~~978~~307.4060 19,~~924~~244,~~121~~813.6099 0.~~97552017~~94226007 ~~499~~679,~~978~~307.4060 X-1 0.00 0.00 0.00000000 0.00 R-I 500.00 0.00 0.00000000 500.00 R-II 500.00 0.00 0.00000000 500.00 R-III 500.00 0.00 0.00000000 500.00 M 1011,~~870~~389.6163 17,~~726~~715,~~529~~139.3976 0.~~99938714~~99874501 1011,~~870~~389.6163 B-1 45,~~925~~160.7795 8,~~032~~027,~~374~~213.2328 0.~~99938714~~99874501 45,~~925~~160.7795 B-2 3,~~736~~915.8223 6,~~093~~089,~~563~~647.1896 0.~~99938714~~99874501 3,~~736~~915.8223 B-3 2,~~717~~847.6844 4,~~431~~428,~~682~~834.3288 0.~~99938714~~99874501 2,~~717~~847.6844 B-4 1,~~188~~245.9672 1,~~938~~937,~~811~~565.0432 0.~~99938713~~99874501 1,~~188~~245.9672 B-5 ~~849~~889.2579 1,~~384~~383,~~850~~960.7596 0.~~99938713~~99874501 ~~849~~889.2579 B-6 2,~~038~~135.5670 3,~~323~~321,~~951~~816.8010 0.~~99938708~~99874496 2,~~038~~135.5670 Totals 1011,~~674~~661,~~988~~996.1482 ~~543~~531,~~620~~958,~~752~~755.2241 0.~~98074135~~95970204 1011,~~674~~661,~~988~~996.1482

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 230,624,800.00 ~~1000~~999.~~00000000~~94291893 0.~~00000000~~00030764 04.~~05708107~~70098589 0.00000000 A-2 87,637,500.00 ~~1000~~987.~~00000000~~51630523 0.~~34325009~~33679007 1231.~~14044467~~77891816 0.00000000 A-3 132,789,900.00 ~~1000~~940.~~00000000~~61516298 1.~~62103405~~60628662 5742.~~76380297~~43151972 0.00000000 A-3M 3,319,800.00 ~~1000~~940.~~00000000~~61516356 1.~~62103440~~60628652 5742.~~76380204~~43151997 0.00000000 A-4 36,541,400.00 ~~1000~~973.~~00000000~~77014482 1.~~23566804~~23767891 2427.~~99418714~~83501344 0.00000000 A-5 20,424,100.00 ~~1000~~975.~~00000000~~52017470 0.~~85716727~~95359747 2332.~~62265804~~30650212 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-I 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-II 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-III 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 M 17,737,400.00 ~~1000~~999.~~00000000~~38713622 0.~~61286378~~64212511 0.00000000 0.00000000 B-1 8,037,300.00 ~~1000~~999.~~00000000~~38713623 0.~~61286377~~64212484 0.00000000 0.00000000 B-2 6,097,300.00 ~~1000~~999.~~00000000~~38713529 0.~~61286471~~64212520 0.00000000 0.00000000 B-3 4,434,400.00 ~~1000~~999.~~00000000~~38713693 0.~~61286307~~64212520 0.00000000 0.00000000 B-4 1,940,000.00 ~~1000~~999.~~00000000~~38713402 0.~~61286598~~64212371 0.00000000 0.00000000 B-5 1,385,700.00 ~~1000~~999.~~00000000~~38713286 0.~~61286714~~64212311 0.00000000 0.00000000 B-6 3,325,990.36 ~~1000~~999.~~00000000~~38708181 0.~~61291819~~64212453 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 04.~~05708107~~70129353 ~~999~~995.~~94291893~~24162540 0.~~99994292~~99524163 04.~~05708107~~70129353 A-2 0.00000000 1232.~~48369477~~11570823 ~~987~~955.~~51630523~~40059700 0.~~98751631~~95540060 1232.~~48369477~~11570823 A-3 0.00000000 5944.~~38483702~~03780641 ~~940~~896.~~61516298~~57735664 0.~~94061516~~89657736 5944.~~38483702~~03780641 A-3M 0.00000000 5944.~~38483644~~03780649 ~~940~~896.~~61516356~~57735707 0.~~94061516~~89657736 5944.~~38483644~~03780649 A-4 0.00000000 2629.~~22985518~~07269234 ~~973~~944.~~77014482~~69745248 0.~~97377014~~94469745 2629.~~22985518~~07269234 A-5 0.00000000 2433.~~47982530~~26009959 ~~975~~942.~~52017470~~26007462 0.~~97552017~~94226007 2433.~~47982530~~26009959 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-II 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-III 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 M 0.00000000 0.~~61286378~~64212511 ~~999~~998.~~38713622~~74501111 0.~~99938714~~99874501 0.~~61286378~~64212511 B-1 0.00000000 0.~~61286377~~64212484 ~~999~~998.~~38713623~~74501138 0.~~99938714~~99874501 0.~~61286377~~64212484 B-2 0.00000000 0.~~61286471~~64212520 ~~999~~998.~~38713529~~74501173 0.~~99938714~~99874501 0.~~61286471~~64212520 B-3 0.00000000 0.~~61286307~~64212520 ~~999~~998.~~38713693~~74501173 0.~~99938714~~99874501 0.~~61286307~~64212520 B-4 0.00000000 0.~~61286598~~64212371 ~~999~~998.~~38713402~~74501031 0.~~99938713~~99874501 0.~~61286598~~64212371 B-5 0.00000000 0.~~61286714~~64212311 ~~999~~998.~~38713286~~74500974 0.~~99938713~~99874501 0.~~61286714~~64212311 B-6 0.00000000 0.~~61291819~~64212453 ~~999~~998.~~38708181~~74495728 0.~~99938708~~99874496 0.~~61291819~~64212453 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 230,624,800.00 1.~~69000~~46250% 230,~~624~~611,~~800~~635.0069 ~~205~~281,~~704~~057.5193 0.00 0.00 A-2 87,637,500.00 3.~~33305~~28977% 8786,~~637~~543,~~500~~460.0020 ~~243~~237,~~416~~257.6403 0.00 0.00 A-3 132,789,900.00 1.~~74000~~51250% ~~132~~124,~~789~~904,~~900~~193.0043 ~~121~~157,~~945~~431.3933 0.00 0.00 A-3M 3,319,800.00 21.~~07000~~84250% 3,~~319~~122,~~800~~654.0022 34,~~626~~794.8858 0.00 0.00 A-4 36,541,400.00 3.~~39600~~29833% 3635,~~541~~582,~~400~~924.0037 ~~103~~97,~~412~~803.1652 0.00 0.00 A-5 20,424,100.00 3.~~71000~~70800% 2019,~~424~~924,~~100~~121.0060 6361,~~144~~565.5154 0.00 0.00 X-1 0.00 1.~~83089~~46069% ~~460~~450,~~006~~429,~~400~~678.0042 ~~701~~548,~~852~~282.0279 0.00 0.00 R-I 50.00 3.~~09548~~07952% 500.00 0.1300 0.00 0.00 R-II 50.00 3.~~09548~~07952% 500.00 0.1300 0.00 0.00 R-III 50.00 3.~~09548~~07952% 500.00 0.1300 0.00 0.00 M 17,737,400.00 21.~~12000~~89250% 17,~~737~~726,~~400~~529.0039 1927,~~846~~956.1821 0.00 0.00 B-1 8,037,300.00 2.~~32000~~09250% 8,~~037~~032,~~300~~374.0023 914,~~841~~006.2345 0.00 0.00 B-2 6,097,300.00 2.~~32000~~09250% 6,~~097~~093,~~300~~563.0018 710,~~465~~625.8165 0.00 0.00 B-3 4,434,400.00 2.~~32000~~09250% 4,~~434~~431,~~400~~682.0032 57,~~429~~727.6875 0.00 0.00 B-4 1,940,000.00 3.~~25544~~23839% 1,~~940~~938,~~000~~811.0004 5,~~262~~232.9619 0.00 0.00 B-5 1,385,700.00 3.~~25544~~23839% 1,~~385~~384,~~700~~850.0075 3,~~759~~737.2224 0.00 0.00 B-6 3,325,990.36 3.~~25544~~23839% 3,~~325~~323,~~990~~951.3680 98,~~022~~970.9721 0.00 0.00 Totals 554,295,740.36 1,~~503~~466,~~730~~448.5542 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~205~~281,~~704~~057.5193 0.00 ~~230~~229,~~611~~527,~~635~~400.6981 A-2 0.00 0.00 ~~243~~237,~~416~~257.6403 0.00 8683,~~543~~728,~~460~~919.2082 A-3 0.00 0.00 ~~121~~157,~~945~~431.3933 0.00 ~~124~~119,~~904~~056,~~193~~417.4353 A-3M 0.00 0.00 34,~~626~~794.8858 0.00 32,~~122~~976,~~654~~457.2251 A-4 0.00 0.00 ~~103~~97,~~412~~803.1652 0.00 3534,~~582~~520,~~924~~567.3749 A-5 0.00 0.00 6361,~~144~~565.5154 0.00 19,~~924~~244,~~121~~813.6099 X-1 0.00 0.00 ~~701~~548,~~852~~325.0205 0.00 ~~450~~441,~~429~~586,~~678~~493.4220 R-I 0.00 0.00 0.1300 0.00 0.00 R-II 0.00 0.00 0.1300 0.00 0.00 R-III 0.00 0.00 0.1300 0.00 0.00 M 0.00 0.00 1927,~~846~~956.1821 0.00 17,~~726~~715,~~529~~139.3976 B-1 0.00 0.00 914,~~841~~006.2345 0.00 8,~~032~~027,~~374~~213.2328 B-2 0.00 0.00 710,~~465~~625.8165 0.00 6,~~093~~089,~~563~~647.1896 B-3 0.00 0.00 57,~~429~~727.6875 0.00 4,~~431~~428,~~682~~834.3288 B-4 0.00 0.00 5,~~262~~232.9619 0.00 1,~~938~~937,~~811~~565.0432 B-5 0.00 0.00 3,~~759~~737.2224 0.00 1,~~384~~383,~~850~~960.7596 B-6 0.00 0.00 98,~~022~~970.9721 0.00 3,~~323~~321,~~951~~816.8010 Totals 0.00 0.00 1,~~503~~466,~~730~~490.5568 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 230,624,800.00 1.~~69000~~46250% ~~1000~~999.~~00000000~~94291893 01.~~89194445~~21868043 0.00000000 0.00000000 A-2 87,637,500.00 3.~~33305~~28977% ~~1000~~987.~~00000000~~51630523 2.~~77753975~~70725466 0.00000000 0.00000000 A-3 132,789,900.00 1.~~74000~~51250% ~~1000~~940.~~00000000~~61516298 01.~~91833332~~18556705 0.00000000 0.00000000 A-3M 3,319,800.00 21.~~07000~~84250% ~~1000~~940.~~00000000~~61516356 1.~~09249955~~44423760 0.00000000 0.00000000 A-4 36,541,400.00 3.~~39600~~29833% ~~1000~~973.~~00000000~~77014482 2.~~82999995~~67651267 0.00000000 0.00000000 A-5 20,424,100.00 3.~~71000~~70800% ~~1000~~975.~~00000000~~52017470 3.~~09166671~~01435755 0.00000000 0.00000000 X-1 0.00 1.~~83089~~46069% ~~1000~~979.~~00000000~~18132969 1.~~52574403~~19190253 0.00000000 0.00000000 R-I 50.00 3.~~09548~~07952% ~~1000~~0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 R-II 50.00 3.~~09548~~07952% ~~1000~~0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 R-III 50.00 3.~~09548~~07952% ~~1000~~0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 M 17,737,400.00 21.~~12000~~89250% ~~1000~~999.~~00000000~~38713622 1.~~11888890~~57611657 0.00000000 0.00000000 B-1 8,037,300.00 2.~~32000~~09250% ~~1000~~999.~~00000000~~38713623 1.~~22444478~~74268100 0.00000000 0.00000000 B-2 6,097,300.00 2.~~32000~~09250% ~~1000~~999.~~00000000~~38713529 1.~~22444525~~74268119 0.00000000 0.00000000 B-3 4,434,400.00 2.~~32000~~09250% ~~1000~~999.~~00000000~~38713693 1.~~22444525~~74268221 0.00000000 0.00000000 B-4 1,940,000.00 3.~~25544~~23839% ~~1000~~999.~~00000000~~38713402 2.~~71286598~~69700515 0.00000000 0.00000000 B-5 1,385,700.00 3.~~25544~~23839% ~~1000~~999.~~00000000~~38713286 2.~~71286714~~69700512 0.00000000 0.00000000 B-6 3,325,990.36 3.~~25544~~23839% ~~1000~~999.~~00000000~~38708181 2.~~71286715~~69700421 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 01.~~89194445~~21868043 0.00000000 ~~999~~995.~~94291893~~24162540 A-2 0.00000000 0.00000000 2.~~77753975~~70725466 0.00000000 ~~987~~955.~~51630523~~40059700 A-3 0.00000000 0.00000000 01.~~91833332~~18556705 0.00000000 ~~940~~896.~~61516298~~57735664 A-3M 0.00000000 0.00000000 1.~~09249955~~44423760 0.00000000 ~~940~~896.~~61516356~~57735707 A-4 0.00000000 0.00000000 2.~~82999995~~67651267 0.00000000 ~~973~~944.~~77014482~~69745248 A-5 0.00000000 0.00000000 3.~~09166671~~01435755 0.00000000 ~~975~~942.~~52017470~~26007462 X-1 0.00000000 0.00000000 1.~~52574403~~19199439 0.00000000 ~~979~~959.~~18132969~~95728146 R-I 0.00000000 0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 20.~~60000000~~00000000 0.00000000 0.00000000 M 0.00000000 0.00000000 1.~~11888890~~57611657 0.00000000 ~~999~~998.~~38713622~~74501111 B-1 0.00000000 0.00000000 1.~~22444478~~74268100 0.00000000 ~~999~~998.~~38713623~~74501138 B-2 0.00000000 0.00000000 1.~~22444525~~74268119 0.00000000 ~~999~~998.~~38713529~~74501173 B-3 0.00000000 0.00000000 1.~~22444525~~74268221 0.00000000 ~~999~~998.~~38713693~~74501173 B-4 0.00000000 0.00000000 2.~~71286598~~69700515 0.00000000 ~~999~~998.~~38713402~~74501031 B-5 0.00000000 0.00000000 2.~~71286714~~69700512 0.00000000 ~~999~~998.~~38713286~~74500974 B-6 0.00000000 0.00000000 2.~~71286715~~69700421 0.00000000 ~~999~~998.~~38708181~~74495728 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1213,~~317~~228,~~096~~638.8785 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2078,~~474~~454.5789 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1213,~~337~~307,~~571~~093.4474 Withdrawals Reimbursement for Servicer Advances 020,474.0057 Payment of Service Fee 158,~~852~~131.9367 Payment of Interest and Principal 1213,~~178~~128,~~718~~487.5150 Total Withdrawals (Pool Distribution Amount) 1213,~~337~~307,~~571~~093.4474 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 912,~~148~~865.0237 Servicing Fee Support 912,~~148~~865.0237 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 8987,~~969~~821.0806 Additional Servicing Fee 7479,~~476~~885.0804 Master Servicing Fee 1,~~112~~132.9634 Miscellaneous Servicing Fee 2,~~442~~158.8360 Supported Prepayment/Curtailment Interest Shortfall 912,~~148~~865.0237 Net Servicing Fee 158,~~852~~131.9367

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 757 0 0 0 757 323,~~762~~097,~~642~~343.0935 0.00 0.00 0.00 323,~~762~~097,~~642~~343.0935 60 Days 10 0 0 0 10 ~~915,798~~0.9200 0.00 0.00 0.00 ~~915,798~~0.9200 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 857 0 0 0 857 423,~~678~~097,~~441~~343.0135 0.00 0.00 0.00 423,~~678~~097,~~441~~343.0135 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 03.~~437500~~486239% 0.000000% 0.000000% 0.000000% 03.~~437500~~486239% 04.~~718346~~340574% 0.000000% 0.000000% 0.000000% 04.~~718346~~340574% 60 Days 0.~~062500~~000000% 0.000000% 0.000000% 0.000000% 0.~~062500~~000000% 0.~~174840~~000000% 0.000000% 0.000000% 0.000000% 0.~~174840~~000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 03.~~500000~~486239% 0.000000% 0.000000% 0.000000% 03.~~500000~~486239% 04.~~893186~~340574% 0.000000% 0.000000% 0.000000% 04.~~893186~~340574%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 034 0 0 0 034 012,041,983.0095 0.00 0.00 0.00 012,041,983.0095 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 034 0 0 0 034 012,041,983.0095 0.00 0.00 0.00 012,041,983.0095 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 04.~~000000~~161567% 0.000000% 0.000000% 0.000000% 04.~~000000~~161567% 04.~~000000~~838834% 0.000000% 0.000000% 0.000000% 04.~~000000~~838834% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 04.~~000000~~161567% 0.000000% 0.000000% 0.000000% 04.~~000000~~161567% 04.~~000000~~838834% 0.000000% 0.000000% 0.000000% 04.~~000000~~838834% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 015 0 0 0 015 04,309,800.00 0.00 0.00 0.00 04,309,800.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 015 0 0 0 015 04,309,800.00 0.00 0.00 0.00 04,309,800.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 04.~~000000~~885993% 0.000000% 0.000000% 0.000000% 04.~~000000~~885993% 04.~~000000~~733401% 0.000000% 0.000000% 0.000000% 04.~~000000~~733401% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 04.~~000000~~885993% 0.000000% 0.000000% 0.000000% 04.~~000000~~885993% 04.~~000000~~733401% 0.000000% 0.000000% 0.000000% 04.~~000000~~733401% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 45 0 0 0 45 25,~~868~~339,~~186~~070.2208 0.00 0.00 0.00 25,~~868~~339,~~186~~070.2208 60 Days 10 0 0 0 10 ~~915,798~~0.9200 0.00 0.00 0.00 ~~915,798~~0.9200 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 5 0 0 0 5 35,~~783~~339,~~985~~070.1408 0.00 0.00 0.00 35,~~783~~339,~~985~~070.1408 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~101928~~428571% 0.000000% 0.000000% 0.000000% 1.~~101928~~428571% 23.~~054330~~995982% 0.000000% 0.000000% 0.000000% 23.~~054330~~995982% 60 Days 0.~~275482~~000000% 0.000000% 0.000000% 0.000000% 0.~~275482~~000000% 0.~~655938~~000000% 0.000000% 0.000000% 0.000000% 0.~~655938~~000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~377410~~428571% 0.000000% 0.000000% 0.000000% 1.~~377410~~428571% 23.~~710268~~995982% 0.000000% 0.000000% 0.000000% 23.~~710268~~995982% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 21 0 0 0 21 ~~563~~498,~~410~~562.6150 0.00 0.00 0.00 ~~563~~498,~~410~~562.6150 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 21 0 0 0 21 ~~563~~498,~~410~~562.6150 0.00 0.00 0.00 ~~563~~498,~~410~~562.6150 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 21.~~000000~~041667% 0.000000% 0.000000% 0.000000% 21.~~000000~~041667% 1.~~456212~~325052% 0.000000% 0.000000% 0.000000% 1.~~456212~~325052% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 21.~~000000~~041667% 0.000000% 0.000000% 0.000000% 21.~~000000~~041667% 1.~~456212~~325052% 0.000000% 0.000000% 0.000000% 1.~~456212~~325052% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 5 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 12 0 0 0 12 ~~331~~907,~~045~~926.2682 0.00 0.00 0.00 ~~331~~907,~~045~~926.2682 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 12 0 0 0 12 ~~331~~907,~~045~~926.2682 0.00 0.00 0.00 ~~331~~907,~~045~~926.2682 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 13.~~515152~~076923% 0.000000% 0.000000% 0.000000% 13.~~515152~~076923% 14.~~528669~~328101% 0.000000% 0.000000% 0.000000% 14.~~528669~~328101% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 13.~~515152~~076923% 0.000000% 0.000000% 0.000000% 13.~~515152~~076923% 14.~~528669~~328101% 0.000000% 0.000000% 0.000000% 14.~~528669~~328101%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2078,~~474~~454.5789

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~755193~~614532% Weighted Average Net Coupon 3.~~560418~~413238% Weighted Average Pass-Through Rate 3.~~377814~~237069% Weighted Average Maturity(Stepdown Calculation ) ~~334~~333 Beginning Scheduled Collateral Loan Count 1,~~617~~600 Number Of Loans Paid In Full 17(35) Ending Scheduled Collateral Loan Count 1,~~600~~635 Beginning Scheduled Collateral Balance ~~554~~523,~~295~~539,~~740~~376.3618 Ending Scheduled Collateral Balance ~~523~~531,~~539~~958,~~376~~756.1836 Ending Actual Collateral Balance at 0230-Jun-2003 ~~523~~532,~~792~~126,~~193~~428.7034 Monthly P &I Constant 1,~~952~~977,~~192~~912.3615 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~543~~531,~~620~~958,~~752~~756.3136 Scheduled Principal ~~339~~340,~~707~~504.4294 Unscheduled Principal 1011,~~335~~321,~~280~~491.5488

Miscellaneous Reporting Deferred Int Added to Group 3, 4, or 5 0.00 Amt from Pref Acct to buy Sub Loans Gr1 013,412,088.00 Amt from Pref Acct to buy Sub Loans Gr2 6,573,250.00 60 Days Delinquencies, Forcls, & REOs 0.00 Basic Risk Reserve RI 42.26

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~649057~~454474 3.~~929792~~639644 3.~~607711~~606553 Weighted Average Net Rate 3.~~560255~~362838 3.~~830708~~538683 3.~~232876~~231553 Weighted Average Maturity ~~314~~313 ~~329~~328 ~~356~~355 Beginning Loan Count 781 ~~294~~290 ~~374~~363 Loans Paid In Full 0(36) 4(17) 1113 Ending Loan Count ~~781~~817 ~~290~~307 ~~363~~350 Beginning Scheduled Balance 236,~~545~~531,~~133~~819.0010 8887,~~373~~276,~~490~~923.0046 ~~147~~139,~~544~~443,~~438~~049.0041 Ending scheduled Balance ~~236~~248,~~531~~902,~~819~~445.1026 8791,~~276~~086,~~923~~382.4698 ~~139~~133,~~443~~429,~~049~~581.4137 Record Date 06/0230/2003 06/0230/2003 06/0230/2003 Principal And Interest Constant ~~681~~719,~~535~~600.0555 ~~302~~316,~~338~~680.6375 ~~682~~657,~~622~~237.6981 Scheduled Principal 076.0091 32,~~608~~025.7654 ~~239~~238,~~174~~126.5662 Unscheduled Principal 131,~~314~~084,163.3193 12,~~063~~785,~~958~~024.2294 75,~~862~~775,~~213~~341.8942 Scheduled Interest 719,~~305~~643.5970 ~~289~~284,~~407~~812.8758 ~~443~~419,~~581~~090.3566 Servicing Fees 1718,~~504~~062.7423 7,~~297~~343.00 4643,~~087~~575.2596 Master Servicing Fees ~~492~~520.8071 ~~184~~195.1252 ~~307~~290.3951 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 5660,~~415~~045.6123 1819,~~060~~839.4781 2,~~442~~158.8360 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~644~~641,~~892~~015.4453 ~~263~~257,~~866~~434.2825 ~~394~~373,~~743~~065.8859 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 3.~~271557~~077038 3.~~582970~~289774 3.~~210508~~210477

Group Level Collateral Statement Group Group 4 Group 5 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~043174~~039405 4.~~659831~~647222 3.~~755193~~614532 Weighted Average Net Rate 3.~~674753~~664405 4.~~284831~~272222 3.~~560418~~413238 Weighted Average Maturity ~~356~~ 355 ~~334~~354 333 Beginning Loan Count ~~102~~100 66 1,~~617~~600 Loans Paid In Full 24 01 17(35) Ending Loan Count ~~100~~96 6665 1,~~600~~635 Beginning Scheduled Balance 3938,~~611~~649,~~288~~019.0005 2221,~~140~~638,~~014~~565.0016 ~~534~~523,~~214~~539,~~363~~376.0018 Ending scheduled Balance 3837,~~649~~582,~~019~~765.0511 2120,~~638~~957,~~565~~581.1664 ~~523~~531,~~539~~958,~~376~~756.1836 Record Date 06/0230/2003 06/0230/2003 06/0230/2003 Principal And Interest Constant ~~180~~179,~~744~~441.3641 104,951.63 1,~~952~~977,~~192~~912.3615 Scheduled Principal 4849,~~946~~123.4058 1821,~~977~~152.7029 ~~339~~340,~~707~~504.4294 Unscheduled Principal ~~913~~1,~~322~~017,130.5936 ~~482~~659,~~471~~831.5323 1011,~~335~~321,~~280~~491.5488 Scheduled Interest ~~133~~130,~~462~~099.7620 8583,~~973~~799.9334 1,~~671~~637,~~731~~445.5048 Servicing Fees 12,~~161~~077.3482 6,~~918~~762.7505 8987,~~969~~821.0806 Master Servicing Fees 8280.52 4645.1308 1,~~112~~132.9634 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 7682,~~918~~043.9164 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~121~~117,~~218~~940.9086 7976,~~009~~992.0521 1,~~503~~466,~~730~~448.5544 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 3.~~672253~~661905 4.~~282331~~269722 3.~~377814~~237069

Miscellaneous Reporting Group Group 1 Amt Remaining in Int Coverage Acct Gr 1 304,~~669~~618.4627 Amt Withdrawn from Int Coverage Acct Gr1 ~~37,770~~139.5435 Amt Remaining in Prefunding Acct Group 1 1342,~~454,867~~779.00 Amt Withdrawn from Prefunding Acct Gr 1 013,412,088.00 Group 1 Senior Percentage 92.~~249920~~249567% Group 1 Senior Prepayment Percentage 100.000000% Group 1 Sen Mez & Sub Percentage 7.~~750080~~750433% Group 1 Sen Mez & Sub Prep Percentage 0.000000% Group Group 2 Amt Remaining in Int Coverage Acct Gr2 175,~~797~~712.0024 Amt Withdrawn from Int Coverage Acct Gr2 ~~19,678~~180.0034 Amt Remaining in Prefunding Acct Group 2 653,~~626,510~~260.00 Amt Withdrawn from Prefunding Acct Gr2 06,573,250.00 Group 2 Senior Percentage 92.~~250000~~162189% Group 2 Senior Prepayment Percentage 100.000000% Group 2 Sen Mez & Sub Percentage 7.~~750000~~837811% Group 2 Sen Mez & Sub Prep Percentage 0.000000% Group Group 3 Group 3 Senior Percentage 9291.~~249970~~813001% Group 3 Senior Prepayment Percentage 100.000000% Group 3 Sen Mez & Sub Percentage 78.~~750030~~186999% Group 3 Sen Mez & Sub Prep Percentage 0.000000%

Miscellaneous Reporting Group Group 4 Group 4 Senior Percentage 92.~~249967~~066824% Group 4 Senior Prepayment Percentage 100.000000% Group 4 Sen Mez & Sub Percentage 7.~~750033~~933176% Group 4 Sen Mez & Sub Prep Percentage 0.000000% Group Group 5 Group 5 Senior Percentage 92.~~249714~~076907% Group 5 Senior Prepayment Percentage 100.000000% Group 5 Sen Mez & Sub Percentage 7.~~750286~~923093% Group 5 Sen Mez & Sub Prep Percentage 0.000000%

Filing Compare · STRUCTURED ASSET MORTGAGE INVESTMENTS TRUST 2003-AR1