8-K 1 ahm03001_dec.txt DECEMBER 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): December 27, 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 December 27, 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 December 27, 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: 12/30/2004 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 December 27, 2004 distribution. EX-99.1

AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage ~~Pass~~-~~Through~~Backed ~~Certificates~~Notes Record Date: 1011/3130/2004 Distribution Date: 1112/2627/2004 ~~AHM~~AMERICAN HOME MORTGAGE INVESTMENT TRUST Mortgage-Backed Notes 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.~~33250~~58000% ~~158~~153,~~074~~173,~~893~~098.2659 ~~327~~340,~~741~~299.9556 47,~~901~~382,~~794~~585.6820 M-1 02660TAB9 MEZ 2.~~63250~~88000% 98,~~045~~764,~~138~~654.4486 21,~~165~~736.6234 ~~280~~422,~~483~~435.5887 M-2 02660TAC7 MEZ 3.~~33250~~58000% 5,~~168~~008,~~616~~341.3003 15,~~310~~439.5960 ~~160~~241,~~275~~390.2733 OT AHM0301OT OT 0.00000% 0.00 ~~143~~127,~~213~~134.7764 0.00 Totals ~~172~~166,~~288~~946,~~648~~094.0048 ~~507~~504,~~431~~610.9314 58,~~342~~046,~~553~~411.5340

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~153~~145,~~173~~790,~~098~~513.5938 57,~~229~~722,~~536~~884.6376 0.00 M-1 0.00 8,~~764~~342,~~654~~218.8699 ~~301~~444,~~649~~172.2021 0.00 M-2 0.00 54,~~008~~766,~~341~~950.0371 ~~175~~256,~~585~~829.8693 0.00 OT 0.00 0.00 ~~143~~127,~~213~~134.7764 0.00 Totals 0.00 ~~166~~158,~~946~~899,~~094~~683.4808 58,~~849~~551,~~985~~021.4654 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 ~~158~~153,~~074~~173,~~893~~098.2659 0.00 47,~~901~~382,~~794~~585.6820 0.00 0.00 M-1 11,321,700.00 98,~~045~~764,~~138~~654.4486 0.00 ~~280~~422,~~483~~435.5887 0.00 0.00 M-2 6,469,500.00 5,~~168~~008,~~616~~341.3003 0.00 ~~160~~241,~~275~~390.2733 0.00 0.00 OT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~172~~166,~~288~~946,~~648~~094.0048 0.00 58,~~342~~046,~~553~~411.5340 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 47,~~901~~382,~~794~~585.6820 ~~153~~145,~~173~~790,~~098~~513.5938 0.~~77414654~~73683449 47,~~901~~382,~~794~~585.6820 M-1 ~~280~~422,~~483~~435.5887 8,~~764~~342,~~654~~218.8699 0.~~77414654~~73683449 ~~280~~422,~~483~~435.5887 M-2 ~~160~~241,~~275~~390.2733 54,~~008~~766,~~341~~950.0371 0.~~77414654~~73683449 ~~160~~241,~~275~~390.2733 OT 0.00 0.00 0.00000000 0.00 Totals 58,~~342~~046,~~553~~411.5340 ~~166~~158,~~946~~899,~~094~~683.4808 0.~~77414654~~73683449 58,~~342~~046,~~553~~411.5340

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 197,860,600.00 ~~798~~774.~~92051909~~14653847 0.00000000 2437.~~77398067~~31205303 0.00000000 M-1 11,321,700.00 ~~798~~774.~~92051900~~14653806 0.00000000 2437.~~77398094~~31205296 0.00000000 M-2 6,469,500.00 ~~798~~774.~~92051936~~14653837 0.00000000 2437.~~77398099~~31205348 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 2437.~~77398067~~31205303 ~~774~~736.~~14653847~~83448539 0.~~77414654~~73683449 2437.~~77398067~~31205303 M-1 0.00000000 2437.~~77398094~~31205296 ~~774~~736.~~14653806~~83448510 0.~~77414654~~73683449 2437.~~77398094~~31205296 M-2 0.00000000 2437.~~77398099~~31205348 ~~774~~736.~~14653837~~83448644 0.~~77414654~~73683449 2437.~~77398099~~31205348 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.~~33250~~58000% ~~158~~153,~~074~~173,~~893~~098.2659 ~~327~~340,~~741~~299.9557 0.00 0.00 M-1 11,321,700.00 2.~~63250~~88000% 98,~~045~~764,~~138~~654.4486 21,~~165~~736.6234 0.00 0.00 M-2 6,469,500.00 3.~~33250~~58000% 5,~~168~~008,~~616~~341.3003 15,~~310~~439.5960 0.00 0.00 OT 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 215,651,800.00 ~~364~~377,~~218~~475.1651 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 ~~327~~340,~~741~~299.9556 0.00 ~~153~~145,~~173~~790,~~098~~513.5938 M-1 0.00 0.00 21,~~165~~736.6234 0.00 8,~~764~~342,~~654~~218.8699 M-2 0.00 0.00 15,~~310~~439.5960 0.00 54,~~008~~766,~~341~~950.0371 OT 0.00 0.00 ~~143~~127,~~213~~134.7764 0.00 0.00 Totals 0.00 0.00 ~~507~~504,~~431~~610.9314 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.~~33250~~58000% ~~798~~774.~~92051909~~14653847 1.~~65642857~~71989557 0.00000000 0.00000000 M-1 11,321,700.00 2.~~63250~~88000% ~~798~~774.~~92051900~~14653806 1.~~86947367~~91988306 0.00000000 0.00000000 M-2 6,469,500.00 3.~~33250~~58000% ~~798~~774.~~92051936~~14653837 2.~~36658011~~38652137 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.~~65642857~~71989552 0.00000000 ~~774~~736.~~14653847~~83448539 M-1 0.00000000 0.00000000 1.~~86947367~~91988306 0.00000000 ~~774~~736.~~14653806~~83448510 M-2 0.00000000 0.00000000 2.~~36658011~~38652137 0.00000000 ~~774~~736.~~14653837~~83448644 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 58,~~906~~550,~~580~~615.0033 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 46,~~211~~717.4295 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 58,~~910~~557,~~791~~333.4228 Withdrawals Reimbursement for Servicer Advances 4,~~461~~211.7142 Payment of Service Fee 562,~~344~~100.2531 Payment of Interest and Principal 58,~~849~~551,~~985~~021.4655 Total Withdrawals (Pool Distribution Amount) 58,~~910~~557,~~791~~333.4228 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~54,177~~0.1500 Indenture Trustee Fee ~~722~~700.3710 Master Servicing Fee 1,~~444~~400.7321 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 562,~~344~~100.2531

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 46 0 0 0 46 12,~~452~~241,~~946~~387.9771 0.00 0.00 0.00 12,~~452~~241,~~946~~387.9771 60 Days 01 0 0 0 01 0147,947.0022 0.00 0.00 0.00 0147,947.0022 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 47 0 0 0 47 12,~~452~~389,~~946~~334.9793 0.00 0.00 0.00 12,~~452~~389,~~946~~334.9793 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 01.~~865801~~360544% 0.000000% 0.000000% 0.000000% 01.~~865801~~360544% 0.~~864724~~000000% 0.000000% 0.000000% 0.000000% 0.~~864724~~000000% 60 Days 0.~~000000~~226757% 0.000000% 0.000000% 0.000000% 0.~~000000~~226757% 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 01.~~865801~~587302% 0.000000% 0.000000% 0.000000% 01.~~865801~~587302% 0.~~864724~~000000% 0.000000% 0.000000% 0.000000% 0.~~864724~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 46,~~211~~717.4295

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 30.~~902310~~000000% Weighted Average Net Coupon 3.~~527310~~618836% Weighted Average Pass-Through Rate 30.~~512310~~000000% Weighted Average Maturity(Stepdown Calculation ) ~~344~~343 Beginning Scheduled Collateral Loan Count ~~477~~462 Number Of Loans Paid In Full 1521 Ending Scheduled Collateral Loan Count ~~462~~441 Beginning Scheduled Collateral Balance ~~173~~168,~~366~~024,~~907~~353.5098 Ending Scheduled Collateral Balance ~~168,024,353~~0.9800 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2004 ~~168,024,353~~0.9800 Monthly P &I Constant ~~563~~559,~~776~~218.1707 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 ~~168~~159,~~024~~977,~~353~~942.9858 Scheduled Principal 0.00 Unscheduled Principal 58,~~342~~046,~~553~~411.5240 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 ~~143~~127,~~213~~533.7721

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