8-K 1 sam02ar2_apr.txt APRIL 8-K 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): April 19, 2004 STRUCTURED ASSET MORTGAGE INVESTMENTS INC. Mortgage Pass-Through Certificates, Series 2002-AR2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-68542-05 90-0073071 Pooling and Servicing Agreement) (Commission 90-0073048 (State or other File Number) Pending jurisdiction 90-0073004 of Incorporation) IRS EIN c/o Wells Fargo Bank, 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 April 19, 2004 a distribution was made to holders of STRUCTURED ASSET MORTGAGE INVESTMENTS INC., Mortgage Pass-Through Certificates, Series 2002-AR2 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 2002-AR2 Trust, relating to the April 19, 2004 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 2002-AR2 Trust By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 4/21/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AR2 Trust, relating to the April 19, 2004 distribution. EX-99.1

Structured Asset Mortgage Investments Inc. Mortgage Pass-Through Certificates Record Date: 103/31/0304 Distribution Date: 114/19/0304 SAM Series: 2002-AR2 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 86358HNH8 SEN 1.~~47000~~44000% ~~200~~188,~~064~~317,~~382~~792.8286 ~~245~~225,~~078~~981.8734 31,~~782~~100,~~967~~968.14 A-2 86358HNK1 SEN 2.~~80823~~85468% 3734,~~259~~752,~~007~~239.2675 8782,~~193~~672.1611 ~~679~~721,~~857~~725.9049 R-I 86358HNL9 RES 3.~~59717~~59624% 0.00 0.00 0.00 R-II 86358HNM7 RES 3.~~59717~~59624% 0.00 0.00 0.00 R-III 86358HNS4 RES 3.~~59717~~59624% 0.00 0.00 0.00 R-IV 86358HNT2 RES 3.~~59717~~59624% 0.00 0.00 0.00 A-3 86358HNR6 SEN 1.~~62000~~59000% 9,929,755.38 13,~~405~~156.1793 0.00 B-1 86358HNN5 SUB 1.~~82000~~79000% 4,124,781.46 6,~~255~~152.9280 0.00 B-2 86358HNP0 SUB 2.~~12000~~09000% 2,902,486.96 5,~~127~~055.7316 0.00 B-3 86358HNQ8 SUB 2.~~12000~~09000% 1,833,291.76 3,~~238~~192.8298 0.00 B-4 86358HNU9 SUB 2.~~80148~~81113% 1,069,395.19 2,~~496~~505.5718 0.00 B-5 86358HNV7 SUB 2.~~80148~~81113% 610,997.25 1,~~426~~431.4133 0.00 B-6 86358HNW5 SUB 2.~~80148~~81113% 1,680,541.45 3,~~923~~936.3385 0.00 X 86358HNJ4 SEN 1.~~30281~~33440% 0.00 ~~237~~230,~~604~~303.3851 0.00 Totals ~~259~~245,~~474~~221,~~639~~282.5306 ~~605~~574,~~750~~388.3619 41,~~462~~822,~~825~~693.0463

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~196~~187,~~281~~216,~~415~~824.6872 41,~~028~~326,~~046~~949.0148 0.00 A-2 0.00 3634,~~579~~030,~~149~~514.3626 ~~767~~804,~~051~~397.0660 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 A-3 0.00 9,929,755.38 13,~~405~~156.1793 0.00 B-1 0.00 4,124,781.46 6,~~255~~152.9280 0.00 B-2 0.00 2,902,486.96 5,~~127~~055.7316 0.00 B-3 0.00 1,833,291.76 3,~~238~~192.8298 0.00 B-4 0.00 1,069,395.19 2,~~496~~505.5718 0.00 B-5 0.00 610,997.25 1,~~426~~431.4133 0.00 B-6 0.00 1,680,541.45 3,~~923~~936.3385 0.00 X 0.00 0.00 ~~237~~230,~~604~~303.3851 0.00 Totals 0.00 ~~255~~243,~~011~~398,~~814~~588.4943 52,~~068~~397,~~575~~081.4082 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-1 237,188,200.00 ~~200~~188,~~064~~317,~~382~~792.8286 0.00 31,~~782~~100,~~967~~968.14 0.00 0.00 A-2 46,194,500.00 3734,~~259~~752,~~007~~239.2675 0.00 ~~679~~721,~~857~~725.9049 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 R-III 50.00 0.00 0.00 0.00 0.00 0.00 R-IV 50.00 0.00 0.00 0.00 0.00 0.00 A-3 9,929,800.00 9,929,755.38 0.00 0.00 0.00 0.00 B-1 4,124,800.00 4,124,781.46 0.00 0.00 0.00 0.00 B-2 2,902,500.00 2,902,486.96 0.00 0.00 0.00 0.00 B-3 1,833,300.00 1,833,291.76 0.00 0.00 0.00 0.00 B-4 1,069,400.00 1,069,395.19 0.00 0.00 0.00 0.00 B-5 611,000.00 610,997.25 0.00 0.00 0.00 0.00 B-6 1,680,549.00 1,680,541.45 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 305,534,249.00 ~~259~~245,~~474~~221,~~639~~282.5306 0.00 41,~~462~~822,~~825~~693.0463 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 31,~~782~~100,~~967~~968.14 ~~196~~187,~~281~~216,~~415~~824.6872 0.~~82753449~~78931762 31,~~782~~100,~~967~~968.14 A-2 ~~679~~721,~~857~~725.9049 3634,~~579~~030,~~149~~514.3626 0.~~79185075~~73667892 ~~679~~721,~~857~~725.9049 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 R-IV 0.00 0.00 0.00000000 0.00 A-3 0.00 9,929,755.38 0.99999551 0.00 B-1 0.00 4,124,781.46 0.99999551 0.00 B-2 0.00 2,902,486.96 0.99999551 0.00 B-3 0.00 1,833,291.76 0.99999551 0.00 B-4 0.00 1,069,395.19 0.99999550 0.00 B-5 0.00 610,997.25 0.99999550 0.00 B-6 0.00 1,680,541.45 0.99999551 0.00 X 0.00 0.00 0.00000000 0.00 Totals 41,~~462~~822,~~825~~693.0463 ~~255~~243,~~011~~398,~~814~~588.4943 0.~~83464232~~79663275 41,~~462~~822,~~825~~693.0463

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 237,188,200.00 ~~843~~793.~~48370964~~95936585 0.00000000 154.~~94922150~~64174921 0.00000000 A-2 46,194,500.00 ~~806~~752.~~56803862~~30254143 0.00000000 1415.~~71729102~~62362381 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 0.00000000 0.00000000 0.00000000 0.00000000 A-3 9,929,800.00 999.99550646 0.00000000 0.00000000 0.00000000 B-1 4,124,800.00 999.99550524 0.00000000 0.00000000 0.00000000 B-2 2,902,500.00 999.99550732 0.00000000 0.00000000 0.00000000 B-3 1,833,300.00 999.99550537 0.00000000 0.00000000 0.00000000 B-4 1,069,400.00 999.99550215 0.00000000 0.00000000 0.00000000 B-5 611,000.00 999.99549918 0.00000000 0.00000000 0.00000000 B-6 1,680,549.00 999.99550742 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 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 154.~~94922150~~64174921 ~~827~~789.~~53448814~~31761664 0.~~82753449~~78931762 154.~~94922150~~64174921 A-2 0.00000000 1415.~~71729102~~62362381 ~~791~~736.~~85074760~~67891762 0.~~79185075~~73667892 1415.~~71729102~~62362381 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.00000000 0.00000000 999.99550646 0.99999551 0.00000000 B-1 0.00000000 0.00000000 999.99550524 0.99999551 0.00000000 B-2 0.00000000 0.00000000 999.99550732 0.99999551 0.00000000 B-3 0.00000000 0.00000000 999.99550537 0.99999551 0.00000000 B-4 0.00000000 0.00000000 999.99550215 0.99999550 0.00000000 B-5 0.00000000 0.00000000 999.99549918 0.99999550 0.00000000 B-6 0.00000000 0.00000000 999.99550742 0.99999551 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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-1 237,188,200.00 1.~~47000~~44000% ~~200~~188,~~064~~317,~~382~~792.8286 ~~245~~225,~~078~~981.8735 0.00 0.00 A-2 46,194,500.00 2.~~80823~~85468% 3734,~~259~~752,~~007~~239.2675 8782,~~193~~672.1611 0.00 0.00 R-I 50.00 3.~~59717~~59624% 0.00 0.00 0.00 0.00 R-II 50.00 3.~~59717~~59624% 0.00 0.00 0.00 0.00 R-III 50.00 3.~~59717~~59624% 0.00 0.00 0.00 0.00 R-IV 50.00 3.~~59717~~59624% 0.00 0.00 0.00 0.00 A-3 9,929,800.00 1.~~62000~~59000% 9,929,755.38 13,~~405~~156.1793 0.00 0.00 B-1 4,124,800.00 1.~~82000~~79000% 4,124,781.46 6,~~255~~152.9280 0.00 0.00 B-2 2,902,500.00 2.~~12000~~09000% 2,902,486.96 5,~~127~~055.7316 0.00 0.00 B-3 1,833,300.00 2.~~12000~~09000% 1,833,291.76 3,~~238~~192.8298 0.00 0.00 B-4 1,069,400.00 2.~~80148~~81113% 1,069,395.19 2,~~496~~505.5718 0.00 0.00 B-5 611,000.00 2.~~80148~~81113% 610,997.25 1,~~426~~431.4133 0.00 0.00 B-6 1,680,549.00 2.~~80148~~81113% 1,680,541.45 3,~~923~~936.3385 0.00 0.00 X 0.00 1.~~30281~~33440% ~~218~~207,~~854~~108,~~698~~108.3741 ~~237~~230,~~604~~303.3851 0.00 0.00 Totals 305,534,249.00 ~~605~~574,~~750~~388.3620 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 0.0001 0.00 ~~245~~225,~~078~~981.8734 0.00 ~~196~~187,~~281~~216,~~415~~824.6872 A-2 0.00 0.00 8782,~~193~~672.1611 0.00 3634,~~579~~030,~~149~~514.3626 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 R-IV 0.00 0.00 0.00 0.00 0.00 A-3 0.00 0.00 13,~~405~~156.1793 0.00 9,929,755.38 B-1 0.00 0.00 6,~~255~~152.9280 0.00 4,124,781.46 B-2 0.00 0.00 5,~~127~~055.7316 0.00 2,902,486.96 B-3 0.00 0.00 3,~~238~~192.8298 0.00 1,833,291.76 B-4 0.00 0.00 2,~~496~~505.5718 0.00 1,069,395.19 B-5 0.00 0.00 1,~~426~~431.4133 0.00 610,997.25 B-6 0.00 0.00 3,~~923~~936.3385 0.00 1,680,541.45 X 0.00 0.00 ~~237~~230,~~604~~303.3851 0.00 ~~215~~206,~~071~~007,~~731~~140.2327 Totals 0.0001 0.00 ~~605~~574,~~750~~388.3619 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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-1 237,188,200.00 1.~~47000~~44000% ~~843~~793.~~48370964~~95936585 10.~~03326755~~95275123 0.00000000 0.00000000 A-2 46,194,500.00 2.~~80823~~85468% ~~806~~752.~~56803862~~30254143 1.~~88752254~~78965266 0.00000000 0.00000000 R-I 50.00 3.~~59717~~59624% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 3.~~59717~~59624% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 50.00 3.~~59717~~59624% 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 50.00 3.~~59717~~59624% 0.00000000 0.00000000 0.00000000 0.00000000 A-3 9,929,800.00 1.~~62000~~59000% 999.99550646 1.~~34999396~~32499446 0.00000000 0.00000000 B-1 4,124,800.00 1.~~82000~~79000% 999.99550524 1.~~51666020~~49166020 0.00000000 0.00000000 B-2 2,902,500.00 2.~~12000~~09000% 999.99550732 1.~~76665978~~74165719 0.00000000 0.00000000 B-3 1,833,300.00 2.~~12000~~09000% 999.99550537 1.~~76666121~~74165712 0.00000000 0.00000000 B-4 1,069,400.00 2.~~80148~~81113% 999.99550215 2.~~33455209~~34260333 0.00000000 0.00000000 B-5 611,000.00 2.~~80148~~81113% 999.99549918 2.~~33454992~~34260229 0.00000000 0.00000000 B-6 1,680,549.00 2.~~80148~~81113% 999.99550742 2.~~33455258~~34259757 0.00000000 0.00000000 X 0.00 1.~~30281~~33440% ~~854~~809.~~97263588~~08368282 0.~~92821970~~89969830 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~~00000004 0.00000000 10.~~03326755~~95275119 0.00000000 ~~827~~789.~~53448814~~31761664 A-2 0.00000000 0.00000000 1.~~88752254~~78965266 0.00000000 ~~791~~736.~~85074760~~67891762 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-IV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-3 0.00000000 0.00000000 1.~~34999396~~32499446 0.00000000 999.99550646 B-1 0.00000000 0.00000000 1.~~51666020~~49166020 0.00000000 999.99550524 B-2 0.00000000 0.00000000 1.~~76665978~~74165719 0.00000000 999.99550732 B-3 0.00000000 0.00000000 1.~~76666121~~74165712 0.00000000 999.99550537 B-4 0.00000000 0.00000000 2.~~33455209~~34260333 0.00000000 999.99550215 B-5 0.00000000 0.00000000 2.~~33454992~~34260229 0.00000000 999.99549918 B-6 0.00000000 0.00000000 2.~~33455258~~34259757 0.00000000 999.99550742 X 0.00000000 0.00000000 0.~~92821970~~89969830 0.00000000 ~~840~~804.~~19418510~~78266648 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,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 52,~~149~~472,~~042~~248.6494 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 34,~~238~~792.8416 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 52,~~152~~477,~~281~~041.4810 Withdrawals Reimbursement for Servicer Advances 23,~~620~~327.2662 Payment of Service Fee 8176,~~085~~631.8266 Payment of Interest and Principal 52,~~068~~397,~~575~~081.4082 Total Withdrawals (Pool Distribution Amount) 52,~~152~~477,~~281~~041.4810 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.0001

SERVICING FEES Gross Servicing Fee 8176,~~085~~631.8266 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 8176,~~085~~631.8266

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 30 0 0 30 ~~374,691~~0.1500 0.00 0.00 ~~374,691~~0.1500 30 Days 23 0 0 0 23 ~~520~~613,~~267~~000.0600 0.00 0.00 0.00 ~~520~~613,~~267~~000.0600 60 Days 01 0 0 0 01 0149,600.00 0.00 0.00 0.00 0149,600.00 90 Days 01 0 1 0 12 0117,500.00 0.00 ~~319~~308,~~991~~750.0800 0.00 ~~319~~426,~~991~~250.0800 120 Days 0 10 0 0 10 0.00 ~~364,000~~0.00 0.00 0.00 ~~364,000~~0.00 150 Days 0 10 0 0 10 0.00 ~~144,000~~0.4000 0.00 0.00 ~~144,000~~0.4000 180+ Days 01 0 02 0 03 0364,000.00 0.00 0463,991.0048 0.00 0827,991.0048 Totals 26 50 13 0 89 ~~520~~1,~~267~~244,100.0600 ~~882,691~~0.5500 ~~319~~772,~~991~~741.0848 0.00 12,~~722~~016,~~949~~841.6948 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.~~391134~~000000% 0.000000% 0.000000% 0.~~391134~~000000% 0.~~146931~~000000% 0.000000% 0.000000% 0.~~146931~~000000% 30 Days 0.~~260756~~412655% 0.000000% 0.000000% 0.000000% 0.~~260756~~412655% 0.~~204017~~251850% 0.000000% 0.000000% 0.000000% 0.~~204017~~251850% 60 Days 0.~~000000~~137552% 0.000000% 0.000000% 0.000000% 0.~~000000~~137552% 0.~~000000~~061463% 0.000000% 0.000000% 0.000000% 0.~~000000~~061463% 90 Days 0.~~000000~~137552% 0.000000% 0.~~130378~~137552% 0.000000% 0.~~130378~~275103% 0.~~000000~~048275% 0.000000% 0.~~125481~~126850% 0.000000% 0.~~125481~~175124% 120 Days 0.000000% 0.~~130378~~000000% 0.000000% 0.000000% 0.~~130378~~000000% 0.000000% 0.~~142738~~000000% 0.000000% 0.000000% 0.~~142738~~000000% 150 Days 0.000000% 0.~~130378~~000000% 0.000000% 0.000000% 0.~~130378~~000000% 0.000000% 0.~~056468~~000000% 0.000000% 0.000000% 0.~~056468~~000000% 180+ Days 0.~~000000~~137552% 0.000000% 0.~~000000~~275103% 0.000000% 0.~~000000~~412655% 0.~~000000~~149549% 0.000000% 0.~~000000~~190630% 0.000000% 0.~~000000~~340179% Totals 0.~~260756~~825309% 0.~~651890~~000000% 0.~~130378~~412655% 0.000000% 1.~~043025~~237964% 0.~~204017~~511137% 0.~~346138~~000000% 0.~~125481~~317480% 0.000000% 0.~~675635~~828617%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 20 0 0 20 ~~255,108~~0.7400 0.00 0.00 ~~255,108~~0.7400 30 Days 13 0 0 0 13 ~~410~~613,~~067~~000.0600 0.00 0.00 0.00 ~~410~~613,~~067~~000.0600 60 Days 01 0 0 0 01 0149,600.00 0.00 0.00 0.00 0149,600.00 90 Days 01 0 01 0 02 0117,500.00 0.00 0308,750.00 0.00 0426,250.00 120 Days 0 10 0 0 10 0.00 ~~364,000~~0.00 0.00 0.00 ~~364,000~~0.00 150 Days 0 10 0 0 10 0.00 ~~144,000~~0.4000 0.00 0.00 ~~144,000~~0.4000 180 Days 01 0 01 0 02 0364,000.00 0.00 0144,000.0040 0.00 0508,000.0040 Totals 16 4 0 2 0 58 ~~410~~1,~~067.06 763~~244,~~109~~100.1400 0.00 452,750.40 0.00 1,~~173~~696,~~176~~850.2040 0-29 Days 0.~~318979~~000000% 0.000000% 0.000000% 0.~~318979~~000000% 0.~~118754~~000000% 0.000000% 0.000000% 0.~~118754~~000000% 30 Days 0.~~159490~~500835% 0.000000% 0.000000% 0.000000% 0.~~159490~~500835% 0.~~190887~~297924% 0.000000% 0.000000% 0.000000% 0.~~190887~~297924% 60 Days 0.~~000000~~166945% 0.000000% 0.000000% 0.000000% 0.~~000000~~166945% 0.~~000000~~072707% 0.000000% 0.000000% 0.000000% 0.~~000000~~072707% 90 Days 0.~~000000~~166945% 0.000000% 0.~~000000~~166945% 0.000000% 0.~~000000~~333890% 0.~~000000~~057106% 0.000000% 0.~~000000~~150056% 0.000000% 0.~~000000~~207162% 120 Days 0.000000% 0.~~159490~~000000% 0.000000% 0.000000% 0.~~159490~~000000% 0.000000% 0.~~169443~~000000% 0.000000% 0.000000% 0.~~169443~~000000% 150 Days 0.000000% 0.~~159490~~000000% 0.000000% 0.000000% 0.~~159490~~000000% 0.000000% 0.~~067033~~000000% 0.000000% 0.000000% 0.~~067033~~000000% 180 Days 0.~~000000~~166945% 0.000000% 0.~~000000~~166945% 0.000000% 0.~~000000~~333890% 0.~~000000~~176908% 0.000000% 0.~~000000~~069986% 0.000000% 0.~~000000~~246893% Totals 01.~~159490~~001669% 0.~~637959~~000000% 0.~~000000~~333890% 0.000000% 01.~~797448~~335559% 0.~~190887~~604645% 0.~~355229~~000000% 0.~~000000~~220041% 0.000000% 0.~~546116~~824686% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 10 0 0 10 ~~119,582~~0.4100 0.00 0.00 ~~119,582~~0.4100 30 Days 10 0 0 0 10 ~~110,200~~0.00 0.00 0.00 0.00 ~~110,200~~0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 10 0 10 0.00 0.00 ~~319,991~~0.0800 0.00 ~~319,991~~0.0800 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 01 0 01 0.00 0.00 0319,991.0008 0.00 0319,991.0008 Totals 10 10 1 0 31 ~~110,200~~0.00 ~~119,582~~0.4100 319,991.08 0.00 ~~549~~319,~~773~~991.4908 0-29 Days 0.~~714286~~000000% 0.000000% 0.000000% 0.~~714286~~000000% 0.~~297542~~000000% 0.000000% 0.000000% 0.~~297542~~000000% 30 Days 0.~~714286~~000000% 0.000000% 0.000000% 0.000000% 0.~~714286~~000000% 0.~~274197~~000000% 0.000000% 0.000000% 0.000000% 0.~~274197~~000000% 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.~~714286~~000000% 0.000000% 0.~~714286~~000000% 0.000000% 0.000000% 0.~~796193~~000000% 0.000000% 0.~~796193~~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~~781250% 0.000000% 0.~~000000~~781250% 0.000000% 0.000000% 0.~~000000~~850102% 0.000000% 0.~~000000~~850102% Totals 0.~~714286~~000000% 0.~~714286~~000000% 0.~~714286~~781250% 0.000000% 20.~~142857~~781250% 0.~~274197~~000000% 0.~~297542~~000000% 0.~~796193~~850102% 0.000000% 10.~~367932~~850102%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 34,~~238~~792.8416

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~176431~~185791% Weighted Average Net Coupon 2.~~801432~~810791% Weighted Average Pass-Through Rate 2.~~801431~~810791% Weighted Average Maturity(Stepdown Calculation ) ~~284~~279 Beginning Scheduled Collateral Loan Count ~~782~~736 Number Of Loans Paid In Full 159 Ending Scheduled Collateral Loan Count ~~767~~727 Beginning Scheduled Collateral Balance ~~259~~245,~~474~~221,~~639~~282.5306 Ending Scheduled Collateral Balance ~~255~~243,~~011~~398,~~814~~588.4943 Ending Actual Collateral Balance at 31-~~Oct~~Mar-~~2003~~2004 ~~255~~243,~~011~~398,~~814~~585.4957 Monthly P &I Constant ~~686~~651,~~836~~019.1885 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 ~~255~~243,~~011~~398,~~814~~588.4943 Scheduled Principal 0.00 Unscheduled Principal 41,~~462~~822,~~825~~693.0463

Miscellaneous Reporting Senior Percentage Group I 91.~~518809~~037198% Senior Percentage Group II 9190.~~164736~~587413% Senior Prep Percentage Group I 100.000000% Senior Prep Percentage Group II 100.000000% Subordinate Percentage Group I 8.~~481191~~962802% Subordinate Percentage Group II 89.~~835264~~412587% Subordinate Prep Percentage Group I 0.000000% Subordinate Prep Percentage Group II 0.000000%

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 3.~~175161~~177652 3.~~183228~~229680 3.~~176431~~185791 Weighted Average Net Rate 2.~~800161~~802652 2.~~808228~~854680 2.~~801432~~810791 Weighted Average Maturity ~~284~~279 ~~286~~281 ~~284~~279 Beginning Loan Count ~~639~~603 ~~143~~133 ~~782~~736 Loans Paid In Full 124 35 159 Ending Loan Count ~~627~~599 ~~140~~128 ~~767~~727 Beginning Scheduled Balance ~~218~~206,~~604~~858,~~661~~071.6569 4038,~~869~~363,~~977~~210.8837 ~~259~~245,~~474~~221,~~639~~282.5306 Ending scheduled Balance ~~214~~205,~~821~~757,~~694~~103.5155 4037,~~190~~641,~~119~~484.9888 ~~255~~243,~~011~~398,~~814~~588.4943 Record Date 1003/31/~~2003~~2004 1003/31/~~2003~~2004 1003/31/~~2003~~2004 Principal And Interest Constant ~~578~~547,~~420~~769.7910 ~~108~~103,~~415~~250.3975 ~~686~~651,~~836~~019.1885 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 31,~~782~~100,~~967~~968.14 ~~679~~721,~~857~~725.9049 41,~~462~~822,~~825~~693.0463 Scheduled Interest ~~578~~547,~~420~~769.7910 ~~108~~103,~~415~~250.3975 ~~686~~651,~~836~~019.1885 Servicing Fees 6864,~~313~~643.9516 1211,~~771~~988.8750 8176,~~085~~631.8266 Master Servicing Fees 0.00 0.00 0.00 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 0.00 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 ~~510~~483,~~106~~125.8494 9591,~~643~~262.5225 ~~605~~574,~~750~~388.3619 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 2.~~800161~~802652 2.~~808228~~854680 2.~~801431~~810791

Filing Compare · STRUCTURED ASSET MORTGAGE INVEST MORT PA THR CE SER 2002-AR2