8-K 1 ahm03001_nov.txt NOVEMBER 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): November 26, 2004 AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-106323-13 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On November 26, 2004 a distribution was made to holders of AMERICAN HOME MORTGAGE INVESTMENT TRUST, Mortgage-Backed Notes, Series 2003-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2003-1 Trust, relating to the November 26, 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. AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes, Series 2003-1 Trust (Registrant) 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: 12/3/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage-Backed Notes, Series 2003-1 Trust, relating to the November 26, 2004 distribution. EX-99.1

AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage Pass-~~Backed~~Through ~~Notes~~Certificates Record Date: 810/31/2004 Distribution Date: 911/2726/2004 AHM Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 02660TAA1 SEN 2.~~01500~~33250% ~~173~~158,~~562~~074,~~096~~893.5026 ~~320~~327,~~583~~741.6695 4,~~293~~901,~~983~~794.9668 M-1 02660TAB9 MEZ 2.~~31500~~63250% 9,~~931~~045,~~325~~138.3344 21,~~075~~165.1062 ~~245~~280,~~704~~483.2958 M-2 02660TAC7 MEZ 3.~~01500~~33250% 5,~~675~~168,~~005~~616.4530 15,~~684~~310.3059 ~~140~~160,~~401~~275.5227 OT AHM0301OT OT 0.00000% 0.00 ~~175~~143,~~542~~213.1677 0.00 Totals ~~189~~172,~~168~~288,~~427~~648.2800 ~~532~~507,~~885~~431.2293 45,~~680~~342,~~089~~553.7753

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~169~~153,~~268~~173,~~112~~098.5459 45,~~614~~229,~~567~~536.6263 0.00 M-1 0.00 98,~~685~~764,~~621~~654.0486 ~~266~~301,~~779~~649.3920 0.00 M-2 0.00 5,~~534~~008,~~603~~341.9303 ~~156~~175,~~085~~585.8286 0.00 OT 0.00 0.00 ~~175~~143,~~542~~213.1677 0.00 Totals 0.00 ~~184~~166,~~488~~946,~~337~~094.5148 5,~~212~~849,~~974~~985.9946 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 197,860,600.00 ~~173~~158,~~562~~074,~~096~~893.5026 0.00 4,~~293~~901,~~983~~794.9668 0.00 0.00 M-1 11,321,700.00 9,~~931~~045,~~325~~138.3344 0.00 ~~245~~280,~~704~~483.2958 0.00 0.00 M-2 6,469,500.00 5,~~675~~168,~~005~~616.4530 0.00 ~~140~~160,~~401~~275.5227 0.00 0.00 OT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~189~~172,~~168~~288,~~427~~648.2800 0.00 45,~~680~~342,~~089~~553.7753 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 4,~~293~~901,~~983~~794.9668 ~~169~~153,~~268~~173,~~112~~098.5459 0.~~85549176~~77414654 4,~~293~~901,~~983~~794.9668 M-1 ~~245~~280,~~704~~483.2958 98,~~685~~764,~~621~~654.0486 0.~~85549176~~77414654 ~~245~~280,~~704~~483.2958 M-2 ~~140~~160,~~401~~275.5227 5,~~534~~008,~~603~~341.9303 0.~~85549176~~77414654 ~~140~~160,~~401~~275.5227 OT 0.00 0.00 0.00000000 0.00 Totals 45,~~680~~342,~~089~~553.7753 ~~184~~166,~~488~~946,~~337~~094.5148 0.~~85549176~~77414654 45,~~680~~342,~~089~~553.7753

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 197,860,600.00 ~~877~~798.~~19382484~~92051909 0.00000000 2124.~~70206681~~77398067 0.00000000 M-1 11,321,700.00 ~~877~~798.~~19382513~~92051900 0.00000000 2124.~~70206683~~77398094 0.00000000 M-2 6,469,500.00 ~~877~~798.~~19382487~~92051936 0.00000000 2124.~~70206662~~77398099 0.00000000 OT 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 0.00000000 2124.~~70206681~~77398067 ~~855~~774.~~49175804~~14653847 0.~~85549176~~77414654 2124.~~70206681~~77398067 M-1 0.00000000 2124.~~70206683~~77398094 ~~855~~774.~~49175830~~14653806 0.~~85549176~~77414654 2124.~~70206683~~77398094 M-2 0.00000000 2124.~~70206662~~77398099 ~~855~~774.~~49175825~~14653837 0.~~85549176~~77414654 2124.~~70206662~~77398099 OT 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 197,860,600.00 2.~~01500~~33250% ~~173~~158,~~562~~074,~~096~~893.5026 ~~320~~327,~~583~~741.6695 0.00 0.00 M-1 11,321,700.00 2.~~31500~~63250% 9,~~931~~045,~~325~~138.3344 21,~~075~~165.1062 0.00 0.00 M-2 6,469,500.00 3.~~01500~~33250% 5,~~675~~168,~~005~~616.4530 15,~~684~~310.3059 0.00 0.00 OT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~357~~364,~~343~~218.0616 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 0.00 0.00 ~~320~~327,~~583~~741.6695 0.00 ~~169~~153,~~268~~173,~~112~~098.5459 M-1 0.00 0.00 21,~~075~~165.1062 0.00 98,~~685~~764,~~621~~654.0486 M-2 0.00 0.00 15,~~684~~310.3059 0.00 5,~~534~~008,~~603~~341.9303 OT 0.00 0.00 ~~175~~143,~~542~~213.1677 0.00 0.00 Totals 0.00 0.00 ~~532~~507,~~885~~431.2293 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 197,860,600.00 2.~~01500~~33250% ~~877~~798.~~19382484~~92051909 1.~~62025012~~65642857 0.00000000 0.00000000 M-1 11,321,700.00 2.~~31500~~63250% ~~877~~798.~~19382513~~92051900 1.~~86147840~~86947367 0.00000000 0.00000000 M-2 6,469,500.00 3.~~01500~~33250% ~~877~~798.~~19382487~~92051936 2.~~42434500~~36658011 0.00000000 0.00000000 OT 0.00 0.00000% 0.00000000 0.00000000 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 0.00000000 0.00000000 1.~~62025012~~65642857 0.00000000 ~~855~~774.~~49175804~~14653847 M-1 0.00000000 0.00000000 1.~~86147840~~86947367 0.00000000 ~~855~~774.~~49175830~~14653806 M-2 0.00000000 0.00000000 2.~~42434500~~36658011 0.00000000 ~~855~~774.~~49175825~~14653837 OT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 5,~~277~~906,~~736~~580.5200 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 24,~~724~~211.1042 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 5,~~280~~910,~~460~~791.6242 Withdrawals Reimbursement for Servicer Advances 54,~~655~~461.4571 Payment of Service Fee 6156,~~830~~344.1825 Payment of Interest and Principal 5,~~212~~849,~~974~~985.9946 Total Withdrawals (Pool Distribution Amount) 5,~~280~~910,~~460~~791.6242 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5954,~~452~~177.0915 Indenture Trustee Fee ~~792~~722.7037 Master Servicing Fee 1,~~585~~444.3973 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6156,~~830~~344.1825

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 24 0 0 0 24 ~~887~~1,~~976~~452,946.7197 0.00 0.00 0.00 ~~887~~1,~~976~~452,946.7197 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 24 0 0 0 24 ~~887~~1,~~976~~452,946.7197 0.00 0.00 0.00 ~~887~~1,~~976~~452,946.7197 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 0.~~397614~~865801% 0.000000% 0.000000% 0.000000% 0.~~397614~~865801% 0.~~478522~~864724% 0.000000% 0.000000% 0.000000% 0.~~478522~~864724% 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 0.~~397614~~865801% 0.000000% 0.000000% 0.000000% 0.~~397614~~865801% 0.~~478522~~864724% 0.000000% 0.000000% 0.000000% 0.~~478522~~864724%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 24,~~724~~211.1042

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 3.~~751227~~902310% Weighted Average Net Coupon 3.~~376227~~527310% Weighted Average Pass-Through Rate 3.~~361227~~512310% Weighted Average Maturity(Stepdown Calculation ) ~~346~~344 Beginning Scheduled Collateral Loan Count ~~518~~477 Number Of Loans Paid In Full 15 Ending Scheduled Collateral Loan Count ~~503~~462 Beginning Scheduled Collateral Balance ~~190~~173,~~246~~366,~~686~~907.7850 Ending Scheduled Collateral Balance ~~185~~168,~~566~~024,~~597~~353.0198 Ending Actual Collateral Balance at 31-~~Aug~~Oct-2004 ~~185~~168,~~566~~024,~~597~~353.0198 Monthly P &I Constant ~~594~~563,~~715~~776.3917 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 ~~185~~168,~~566~~024,~~597~~353.0198 Scheduled Principal 0.00 Unscheduled Principal 45,~~680~~342,~~089~~553.7752 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,078,259.50 Overcollateralized Amount 1,078,259.50 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~175~~143,~~542~~213.1677

Filing Compare · SAMI II AMERICAN HOME MTG BACK NTS SER 2003-1