Ameriquest Mortgage Sec Inc Asset Back Cert Ser 2003 Ar1 8-K Other events

                           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 26, 2003


                      AMERIQUEST MORTGAGE SECURITIES INC.
          (as depositor, Ameriquest Mortgage Company, Master Servicer,
             and Deutsche Bank National Trust Company, as Trustee).

            AMERIQUEST MORTGAGE SEC INC ASSET BACK CERT SER 2003-AR1
            (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-77012-09                          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
     December 26, 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 January 1,2003.


          Date:  Jan 02, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of December 26, 2003.






			

	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	December 26, 2003 Distribution
	Contents
			TABLE OF CONTENTS
											&nbs p;
								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				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				21
			12.	Realized Loss Detail Report				24
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				25
		&nbs p;
				Total Number of Pages				25
			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	&nb sp;
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
								&nb sp;
ISSUANCE INFORMATION
	Seller:		Ameriquest Mtg Sec Inc					Cut-Off Date: January 1, 2003
	Certificate Insurer(s):							Closing Date: January 17, 2003
								First Payment Date: February 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer
								Distribution Date: December 26, 2003
	Underwriter(s):		UBS Warburg Underwriter					Record Date: December 24, 2003
								November 28, 2003
						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for December 26, 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	&nb sp;	238,211,000.00			192,996,331.11	267,360.23	10,002,634.35	10,269,994.58	-	-	182,993,696.76
A-2		109,794,000.00			90,365,185.57	125,184.02	3,539,931.81	3,665,115.83	-	-	86,825,253.76
M-1		17,000,000.00			17,000,000.00	33,211.98	-	33,211.98	-	-	17,000,000.00
M-2		14,000,000.00			14,000,000.00	38,803.82	-	38,803.82	-	-	14,000,000.00
M-3		12,000,000.00			12,000,000.00	42,560.42	-	42,560.42	-	-	12,000,000.00
M-4		3,000,000.00			3,000,000.00	15,000.00	-	15,000.00	-	-	3,000,000.00
CE		6,000,098.88			6,000,078.00	1,088,562.60	-	1,088,562.60	-	-	6,000,078.00
P		100.00			100.00	313,298.71	-	313,298.71	-	-	100.00
R		-			-	-	-	-	-	-	-
Total		400,005,198.88			335,361,694.68	1,923,981.78	13,542,566.16	15,466,547.94	-	-	321,819,128.52
	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	11/25/03	12/25/03		A-Act/360	03072SEG6	238,211,000.00	810.190676	1.122367	41.990648	43.113016	768.200028
A-2	11/25/03	12/25/03		A-Act/360	03072SEH4	109,794,000.00	823.043022	1.140172	32.241578	33.381750	790.801444
M-1	11/25/03	12/25/03		A-Act/360	03072SEJ0	17,000,000.00	1,000.000000	1.953646	-	1.953646	1,000.000000
M-2	11/25/03	12/25/03		A-Act/360	03072SEK7	14,000,000.00	1,000.000000	2.771701	-	2.771701	1,000.000000
M-3	11/25/03	12/25/03		A-Act/360	03072SEL5	12,000,000.00	1,000.000000	3.546702	-	3.546702	1,000.000000
M-4				A-30/360	03072SEM3	3,000,000.00	1,000.000000	5.000000	-	5.000000	1,000.000000
CE				A-30/360		6,000,098.88	999.996520	181.424110	-	181.424110	999.996520
P				A-Act/360		100.00	1,000.000000	3,132,987.100000	-	3,132,987.100000	1,000.000000
R				A-Act/360		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for December 26, 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)
							&nb sp;
A-1	238,211,000.00		3,640,255.03		52,922,197.26	2,295,105.98	55,217,303.24	58,857,558.27	-	-	182,993,696.76
A-2	109,794,000.00		1,687,414.51		22,084,556.28	884,189.96	22,968,746.24	24,656,160.75	-	-	86,825,253.76
M-1	17,000,000.00		381,879.03		-	-	-	381,879.03	-	-	17,000,000.00
M-2	14,000,000.00		441,208.05		-	-	-	441,208.05	-	-	14,000,000.00
M-3	12,000,000.00		481,078.35		-	-	-	481,078.35	-	-	12,000,000.00
M-4	3,000,000.00		165,000.00		-	-	-	165,000.00	-	-	3,000,000.00
CE	6,000,098.88		15,077,591.55		6.82	14.06	20.88	15,077,612.43	-	-	6,000,078.00
P	100.00		1,802,468.38		-	-	-	1,802,468.38	-	-	100.00
R	-		-		-	-	-	-	-	-	-
Total	400,005,198.88		23,676,894.90		75,006,760.36	3,179,310.00	78,186,070.36	101,862,965.26	-	-	321,819,128.52
	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	1.60875%	192,996,331.11			267,360.23	-	-	-	267,360.23	267,360.23	-
A-2	1.60875%	90,365,185.57			125,184.02	-	-	-	125,184.02	125,184.02	-
M-1	2.26875%	17,000,000.00			33,211.98	-	-	-	33,211.98	33,211.98	-
M-2	3.21875%	14, 000,000.00			38,803.82	-	-	-	38,803.82	38,803.82	-
M-3	4.11875%	12,000,000.00			42,560.42	-	-	-	42,560.42	42,560.42	-
M-4	6.00000%	3,000,000.00			15,000.00	-	-	-	15,000.00	15,000.00	-
CE		6,000,078.00			1,088, 562.60	-	-	-	1,088,562.60	1,088,562.60	-
P		100.00			313,298.71	-	-	-	313,298.71	313,298.71	-
R		-			-	-	-	-	-	-	-
Total		335,361,694.68			1,923,981.78	-	-	-	1,923,981.78	1,923,981.78	-
							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Collection Account Report for December 26, 2003 Distribution
							&n bsp;
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					3,500,925.33	9,892,415.40	13,393,340.73
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					3,500,925.33	9,892,415.40	13,393,340.73
	Interest Collections					637,665.95	1,484,954.42	2,122,620.37
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	313,298.71
	Interest Fees					(105,134.56)	(257,577.31)	(362,711.87)
	TOTAL NET INTEREST					532,531.39	1,227,377.11	2,073,207.21
		&nb sp;
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					4,033,456.72	11,119,792.51	15,466,547.94
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					93,730.03	166,497.26	260,227.29
	Prepayments In Full					3,403,412.35	9,584,660.56	12,988,072.91
	Curtailments					3,782.95	11,025.34	14,808.29
	Liquidations					0.00	279,457.67	279,457.67
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Total Realized Loss Of Principal					0.00	(149,225.43)	(149,225.43)
	Delinquent Principal		&nbs p;			(50,390.95)	(84,139.71)	(134,530.66)
	Advanced Principal					50,390.95	84,139.71	134,530.66
	TOTAL PRINCIPAL COLLECTED					3,500,925.33	9,892,415.40	13,393,340.73
				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	;
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	TOTAL OTHER ACCOUNTS PRINCIPAL					0.00	0.00	0.00
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					661,929.26	1,530,072.86	2,192,002.12
	Liquidation Interest					0.00	2,198.69	2,198.69
	Repurchased Interest					0.00	0.00	0.00		;
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Relief Act In terest Shortfalls					0.00	0.00	0.00
	Prepayment Interest Shortfalls					(2,552.46)	(9,664.85)	(12,217.31)
	Compensating Interest					2,552.46	9,664.85	12,217.31
	Delinquent Interest					(365,937.16)	(767,481.59)	(1,133,418.75)
	Interest Advanced					341,673.85	720,164.46	1,061,838.31
	TOTAL INTEREST COLLECTED					637,665.95	1,484,954.42	2,122,620.37
				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 200 3-AR1
	Mortgage Pass-Through Certificates
											& nbsp;
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
					;
INTEREST - WITHDRAWALS						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 2	GROUP 1	TOTAL
											&nbs p;
	Prepayment Charges							313,298.71
	Capitalized Interest Requirement							0.00
	TOTAL INTEREST OTHER ACCOUNTS							313,298.71
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					20,224.38	47,929.21	68,153.59
	PMI Insurance Premium					84,331.84	208,409.90	292,741.74
	Trustee Fee					578.34	1,238.20	1,816.54
	TOTAL INTEREST OTHER FEES					105,134.56	257,577.31	362,711.87
						&n bsp;
				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for December 26, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Reserve Account							1,000.64
INSURANCE						GROUP 2	GROUP 1	TOTAL
	Payments received under PMI policy							0.00
	Claims denied under PMI policy							0.00
	Cumulative Payments received under PMI policy							0.00
	Cumulative Claims denied under PMI policy						;	0.00
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Overcollateralized Amount							6,000,078.00
	Overcollateralization Release Amount							0.00
	Overcollateralization Deficiency Amount							149,225.43
	Overcollateralization Target Amount							6,000,078.00
	Excess O vercollateralization Amount							0.00
				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					536	1786	2322
	Prior					465	1,543	2,008
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(12)	(61)	(73)
	Repurchases					-	-	-
	Liquidations					-	(3)	(3)
	Current					453	1,479	1,932
	Principal Balance:
	Original					126,199,291.41	273,805,907.47	400,005,198.88			&nb sp;
	Prior					106,770,471.50	228,591,223.18	335,361,694.68
	Prefunding					-	-	-
	Scheduled Principal					(93,730.03)	(166,497.26)	(260,227.29)
	Partial and Full Voluntary Prepayments					(3,407,195.30)	(9,595,685.90)	(13,002,881.20)
	Repurchases					-	-	-
	Liquidations					-	(279,457.67)	(279,457.67)
	Current					103,269,546.17	218,549,582.35	321,819,128.52
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
			&n bsp;
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL			&nbs p;
	Weighted Average Coupon Original					7.464930%	8.068125%	7.877820%
	Weighted Average Coupon Prior					7.418681%	8.046043%	7.845895%
	Weighted Average Coupon Current					7.439464%	8.043729%	7.851347%
	Weighted Average Months to Maturity Original					353	357	356
	Weighted Average Months to Maturity Prior					343	348	346
	Weighted Average Months to Maturity Current					342	347	345
	Weighted Avg Remaining Amortization Term Original					352	356	355
	Weighted Avg Remaining Amortization Term Prior					342	348	346
	Weighted Avg Remaining Amortization Term Current					341	347	345
	Weighted Average Seasoning Original					1.24	1.41	1.36
	Weighted Average Seasoning Prior					10.24	10.40	10.35
	Weighted Average Seasoning Current					11.25	11.40	11.35
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
				&nbs p;
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					2.268%	5.515%
	Weighted Average Margin Prior					2.194%	5.486%
	Weighted Average Margin Current					2.200%	5.505%
	Weighted Avera ge Max Rate Original					5.082%	12.056%
	Weighted Average Max Rate Prior					4.945%	11.986%
	Weighted Average Max Rate Current					4.986%	12.023%
	Weighted Average Min Rate Original					7.465%	8.071%
	Weighted Average Min Rate Prior					7.4 19%	8.052%
	Weighted Average Min Rate Current					7.439%	8.050%
	Weighted Average Cap Up Original					0.352%	0.851%
	Weighted Average Cap Up Prior					0.341%	0.847%
	Weighted Average Cap Up Current					0.342%	0.850%
	Weighted Average Cap Down Original					0.352%	0.851%
	Weighted Average Cap Down Prior					0.341%	0.847%
	Weighted Average Cap Down Current					0.342%	0.850%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					20,224.38	47,929.21	68,153.59
	Delinquent Servicing Fees					24,263.31	47,317.13	71,580.44
	TOTAL SERVICING FEES					44,487.69	95,246.34	139,734.03
	Compensating Interest					(2,552.46)	(9,664.85)	(12,217.31)
	Delinquent Servicing Fees					24,263.31	(47,317.13)	(23,053.82)
	COLLECTED SERVICING FEES					66,198.54	38,264.36	104,462.90
	Aggregate Advances with respect to this Distribution					392,064.80	804,304.17	1,196,368.97
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances				& nbsp;	0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall					0.00	0.00	0.00
				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,765,498.84	2,278,771.74	3,387,997.59	10,432,268.17
		% Balance			1.48%	0.71%	1.05%	3.24%
		# Loans			26	18	23	67
		% # Loans			1.35%	0.93%	1.19%	3.47%
FORECLOSURE		Balance		-	162,668.88	-	8,497,585.10	8,660,253.98
		% Balance		0.00%	0.05%	0.00%	2.64%	2.69%
		# Loans		-	1	-	58	59
		% # Loans		0.00%	0.05%	0.00%	3.00%	3.05%
BANKRUPTCY		Balance		483,616.96	130,962.28	220,754.85	783,170.09	1,618,504.18
		% Balance		0.15%	0.04%	0.07%	0.24%	0.50%
		# Loans		4	1	3	5	13
		% # Loans		0.21%	0.05%	0.16%	0.26%	0.67%
REO		Balance		-	-	-	1,504,001.19	1,504,001.19
		% Balance		0.00%	0.00%	0.00%	0.47%	0.47%
		# Loans		-	-	-	9	9
		% # Loans		0.00%	0.00%	0.00%	0.47%	0.47%
TOTAL		Balance		483,616.96	5,059,130.00	2,499,526.59	14,172,753.97	22,215,027.52
		% Balance		0.15%	1.57%	0.78%	4.40%	6.90%
		# Loans		4	28	21	95	148
;		% # Loans		0.21%	1.45%	1.09%	4.92%	7.66%
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 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
;
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			2,965,516.52	1,484,120.29	2,495,633.95	6,945,270.76
		% Balance			1.36%	0.68%	1.14%	3.18%
		# Loans			19	14	18	51
		% # Loans			1.28%	0.95%	1.22%	3.45%
FORECLOSURE		Balance		-	162,668.88	-	5,970,763.26	6,133,432.14
		% Balance		0.00%	0.07%	0.00%	2.73%	2.81%
		# Loans		-	1	-	48	49
		% # Loans		0.00%	0.07%	0.00%	3.25%	3.31%
BANKRUPTCY		Balance		411,666.10	130,962.28	220,754.85	467,505.16	1,230,888.39
		% Balance		0.19%	0.06%	0.10%	0.21%	0.56%
		# Loans		3	1	3	4	11
		% # Loans		0.20%	0.07%	0.20%	0.27%	0.74%
REO		Balance		-	-	-	807,220.84	807,220.84
		% Balance		0.00%	0.00%	0.00%	0.37%	0.37%
		# Loans		-	-	-	7	7
		% # Loans		0.00%	0.00%	0.00%	0.47%	0.47%
TOTAL		Balance		411,666.10	3,259,147.68	1,704,875.14	9,741,123.21	15,116,812.13
		% Balance		0.19%	1.49%	0.78%	4.46%	6.92%
		# Loans		3	21	17	77	118
		% # Loans		0.20%	1.42%	1.15%	5.21%	7.98%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Paymen ts = 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 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1,799,982.32	794,651.45	892,363.64	3,486,997.41
		% Balance			1.74%	0.77%	0.86%	3.38%
		# Loans			7	4	5	16
		% # Loans			1.55%	0.88%	1.10%	3.53%
FORECLOSURE		Balance		-	-	-	2,526,821.84	2,526,821.84
		% Balance		0.00%	0.00%	0.00%	2.45%	2.45%
		# Loans		-	-	-	10	10
		% # Loans		0.00%	0.00%	0.00%	2.21%	2.21%
BANKRUPTCY		Balance		71,950.86	-	-	315,664.93	387,615.79
		% Balance		0.07%	0.00%	0.00%	0.31%	0.38%
		# Loans		1	-	-	1	2
		% # Loans		0.22%	0.00%	0.00%	0.22%	0.44%
REO		Balance		-	-	-	696,780.35	696,780.35
		% Balance		0.00%	0.00%	0.00%	0.67%	0.67%
		# Loans		-	-	-	2	2
		% # Loans		0.00%	0.00%	0.00%	0.44%	0.44%
TOTAL		Balance		71,950.86	1,799,982.32	794,651.45	4,431,630.76	7,098,215.39
		% Balance		0.07%	1.74%	0.77%	4.29%	6.87%
		# Loans		1	7	4	18	30
		% # Loans		0.22%	1.55%	0.88%	3.97%	6.62%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Av erage
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 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	REO Report for December 26, 2003 Distribution
&n bsp;	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 2				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 481,850.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 478,632.67
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
41167941 1		140,250.00	139,391.43	May-01-03	9.100%	MI - 85.00%	360	Dec-11-02
40986929 2		341,600.00	339,241.24	Jan-01-03	8.500%	TX - 80.00%	360	Dec-09-02
				Page 14 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Foreclosure Report for December 26, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 15				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 1,448,325.00				Loan Group 2 = Group 2 Group
Total Current Balance = 1,437,425.12
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date		;
39917612 1		124,000.00	122,980.75	Jul-01-03	8.500%	OH - 80.00%	360	Nov-04-02
39918685 1		198,250.00	197,257.63	Feb-01-03	10.500%	NJ - 64.79%	360	Nov-26-02
39945043 1		80,750.00	80,066.01	May-01-03	8.350%	AZ - 85.00%	360	Nov-01-02			&n bsp;
40054348 1		50,000.00	49,658.30	Jul-01-03	9.000%	MN - 31.65%	360	Nov-13-02
40241440 1		95,000.00	93,551.13	Jul-01-03	9.450%	FL - 84.82%	360	Nov-27-02
40252058 1		99,000.00	98,376.72	Jul-01-03	9.400%	UT - 90.00%	360	Nov-18-02
40280380 1		53,600.00	53,366.34	Jul-01-0 3	11.150%	MS - 80.00%	360	Dec-04-02
40454787 1		72,000.00	70,961.49	May-01-03	10.150%	TX - 80.00%	360	Dec-06-02
40692659 1		79,200.00	78,525.14	May-01-03	7.900%	MO - 90.00%	360	Nov-26-02
41100116 1		142,200.00	140,964.10	Jul-01-03	7.800%	IN - 90.00%	360	Dec-04-02
41110057 1		104,000.00	103,274.78	Jul-01-03	8.900%	WA - 80.00%	360	Dec-03-02
41124439 1		136,000.00	135,324.22	Jul-01-03	10.100%	MI - 85.00%	360	Dec-10-02
41526708 1		76,000.00	75,580.78	Jul-01-03	9.600%	IN - 80.00%	360	Dec-13-02
40486193 2		72,000.00	71,639.46	Jul-01-03	10.250%	MI - 90.00%	360	Dec-04-02
40932162 2		66,325.00	65,898.27	May-01-03	8.850%	OH - 82.91%	360	Dec-03-02
				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					12	61	73
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					12	61	73
								&n bsp;
	Paid in Full Balance					3,403,412.35	9,584,660.56	12,988,072.91
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					3,782.95	11,025.34	14,808.29
	Total Prepayment Amount					3,407,195.30	9,595,685.90	13,002,881.20
	Cumulative
	Number of Paid in Full Loans					83	304	387
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full		&nb sp;			83	304	387
	Paid in Full Balance					21,419,801.43	52,775,317.24	74,195,118.67
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					381,568.27	150,615.75	532,184.02
	Total Prepayment Amount					21,801,369.70	52,925,932.99	74,727,302.69
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					3.19%	4.20%	3.88%
	3 Months Avg SMM					3.48%	3.94%	3.79%
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.72%	1.95%	1.88%
	CPR					32.26%	40.25%	37.81%
	3 Months Avg CPR					34.61%	38.28%	37.13%
	12 Months Avg CPR
	Avg CPR Since Cut-off					18.82%	21.01%	20.32%
	PSA					1434.36%	1765.51%	1665.47%
	3 Months Avg PSA Approximation					1689.78%	1840.45%	1794.00%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1508.16%	1639.85%	1599.20%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	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 18 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY		;				LOAN GROUP
Total Loan Count = 73						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 13,101,913.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 12,988,072.91
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
38232849 1			195,500.00	193,225.75	Nov-28-03	7.150%	CA - 85.00%	Paid Off - 360	Aug-31-02		;
38339537 1			139,500.00	137,935.08	Nov-26-03	7.300%	IL - 90.00%	Paid Off - 360	Oct-08-02
38426425 1			290,700.00	287,026.70	Nov-14-03	6.300%	CA - 90.00%	Paid Off - 360	Sep-26-02
38528147 1			90,000.00	89,190.82	Dec-10-03	8.050%	MN - 50.85%	Paid Off - 360	Oct-04-02
38623914 1			151,200.00	150,011.14	Nov-25-03	7.850%	CT - 90.00%	Paid Off - 360	Dec-03-02
39138367 1			85,500.00	84,927.15	Dec-10-03	8.650%	OH - 90.00%	Paid Off - 360	Nov-12-02
39176680 1			236,000.00	233,691.66	Nov-14-03	7.700%	IL - 83.99%	Paid Off - 360	Oct-09-02
39201769 1			155,700.00	154,777.03	Nov-18-03	9.250%	MI - 90.00%	Paid Off - 360	Nov-08-02
39208657 1			284,750.00	282,255.70	Nov-26-03	7.300%	MA - 85.00%	Paid Off - 360	Nov-25-02
39481460 1			105,000.00	104,297.12	Nov-20-03	9.100%	NH - 44.68%	Paid Off - 360	Oct-24-02
39485693 1			123,750.00	122,951.90	Nov-21-03	9.500%	IL - 90.00%	Paid Off - 360	Oct-18-02
39600549 1			280,250.00	277,865.98	Nov-28-03	7.450%	NJ - 95.00%	Paid Off - 360	Nov-08-02
39602180 1			131,850.00	130,746.11	Nov-20-03	8.000%	CA - 90.00%	Paid Off - 360	Oct-18-02
39639125 1			112,000.00	110,936.86	Nov-26-03	7.350%	NJ - 80.00%	Paid Off - 360	Oct-22-02
39708805 1			180,900.00	179,932.88	Nov-28-03	9.750%	WI - 90.00%	Paid Off - 360	Dec-06-02
39977566 1			59,400.00	59,033.67	Dec-02-03	9.500%	MO - 90.00%	Paid Off - 360	Oct-29-02
39979034 1			83,700.00	83,218.90	Nov-20-03	9.400%	IL - 90.00%	Paid Off - 360	Nov-14-02
40022287 1			125,000.00	123,758.50	Dec-04-03	6.990%	CA - 63.13%	Paid Off - 360	Nov-26-02
40050072 1			133,000.00	132,184.03	Nov-14-03	8.600%	VT - 93.66%	Paid Off - 360	Dec-09-02
40070252 1			168,750.00	167,512.21	Nov-19-03	8.650%	MN - 90.00%	Paid Off - 360	Oct-29-02
40100984 1			175,000.00	173,095.93	Nov-20-03	6.000%	NY - 70.00%	Paid Off - 360	Nov-07-02
40192635 1			139,500.00	138,487.11	Nov-17-0 3	8.700%	CA - 90.00%	Paid Off - 360	Oct-31-02
40211385 1			200,000.00	198,458.35	Dec-05-03	7.950%	NY - 72.73%	Paid Off - 360	Nov-13-02
40221855 1			98,550.00	97,971.81	Dec-09-03	9.300%	AZ - 90.00%	Paid Off - 360	Dec-03-02
40222754 1			56,000.00	55,717.01	Nov-25-03	10.020%	OH - 80.00%	Paid Off - 360	Nov-22-02
40238909 1			195,000.00	192,336.57	Nov-19-03	5.800%	MA - 69.64%	Paid Off - 360	Dec-04-02
40390551 1			183,750.00	182,501.82	Nov-24-03	8.600%	NY - 75.00%	Paid Off - 360	Nov-20-02
40416398 1			85,000.00	82,276.09	Dec-08-03	8.300%	TN - 57.43%	Paid Off - 180	Nov-14-02
40424863 1			255,000.00	252,627.93	Nov-28-03	6.990%	CA - 82.26%	Paid Off - 360	Dec-05-02
40433286 1			255,000.00	253,425.23	Nov-17-03	9.050%	CA - 85.00%	Paid Off - 360	Nov-14-02
40464240 1			180,200.00	178,667.03	Nov-26-03	7.450%	NJ - 85.00%	Paid Off - 360	Dec-03-02
40494148 1			98,000.00	97,090.12	Nov-29-03	7.000%	FL - 89.09%	Paid Off - 360	Nov-19-02
40498578 1			108,000.00	107,344.62	Nov-28-03	8.650%	OH - 80.00%	Paid Off - 360	Dec-04-02
40593584 1			136,000.00	135,202.09	Nov-26-03	9.300%	RI - 85.00%	Paid Off - 360	Nov-19-02
40628695 1			130,000.00	129,229.38	Nov-26-03	9.250%	NJ - 89.66%	Paid Off - 360	Dec-02-02
40647919 1			90,000.00	89,306.21	Dec-04-03	7.950%	MO - 90.00%	Paid Off - 360	Nov-25-02
40649568 1			207,000.00	205,510.56	Dec-02-03	7.800%	CA - 90.00%	Paid Off - 360	Dec-11-02
40730699 1			207,000.00	204,631.81	Dec-02-03	5.900%	MA - 53.77%	Paid Off - 360	Nov-27-02
40739997 1			55,250.00	55,008.05	Dec-01-03	10.700%	FL - 65.00%	Paid Off - 360	Nov-25-02
40752917 1			50,000.00	49,610.67	Nov-19-03	7.900%	NY - 31.25%	Paid Off - 360	Nov-25-02
40758997 1			144,500.00	143,605.40	Nov-26-03	9.050%	CA - 85.00%	Paid Off - 360	Dec-10-02
40815672 1			300,000.00	294,842.49	Nov-28-03	6.990%	NY - 80.00%	Paid Off - 360	Nov-26-02
40884124 1			202,500.00	201,038.51	Nov-25-03	8.280%	FL - 90.00%	Paid Off - 360	Nov-21-02
40887 853 1			134,088.00	133,465.57	Nov-12-03	9.950%	WA - 79.80%	Paid Off - 360	Dec-11-02
					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for December 26, 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
40890717 1			182,250.00	180,856.28	Dec-08-03	7.990%	CA - 90.00%	Paid Off - 360	Dec-05-02
40891699 1			129,750.00	129,108.79	Dec-01-03	9.650%	CT - 75.00%	Paid Off - 360	Dec-06-02
40939001 1			91,200.00	90,461.70	Dec-05-03	7.200%	CA - 80.00%	Paid Off - 360	Dec-06-02
40985863 1			197,600.00	196,088.85	Nov-25- 03	7.990%	MD - 95.00%	Paid Off - 360	Nov-20-02
40986747 1			71,250.00	70,757.92	Dec-09-03	8.500%	CA - 95.00%	Paid Off - 360	Nov-26-02
40990095 1			319,500.00	317,290.73	Nov-19-03	8.000%	NY - 90.00%	Paid Off - 360	Dec-06-02
41017732 1			92,000.00	91,142.65	Nov-17-03	8.350%	NH - 76.03%	Paid Off - 360	Dec-02-02
41076076 1			139,500.00	138,445.46	Nov-28-03	7.550%	RI - 90.00%	Paid Off - 360	Dec-09-02
41078270 1			256,500.00	254,706.51	Nov-26-03	8.650%	MA - 90.00%	Paid Off - 360	Dec-02-02
41086810 1			157,500.00	156,591.65	Nov-17-03	8.900%	NV - 90.00%	Paid Off - 360	Dec-09-02
41095993 1			121,500.00	120,762.72	Dec-08-03	8.650%	FL - 90.00%	Paid Off - 360	Dec-03-02
41130055 1			275,500.00	273,226.02	Dec-10-03	7.100%	CO - 95.00%	Paid Off - 360	Dec-06-02
41130873 1			236,000.00	234,706.27	Dec-09-03	9.150%	AZ - 55.53%	Paid Off - 360	Dec-06-02
41165127 1			146,700.00	145,578.75	Dec-01-03	7.650%	UT - 90.00%	Paid Off - 360	Dec-06-02
41236936 1			144,000.00	143,107.33	Nov-12-03	8.550%	CA - 80.00%	Paid Off - 360	Dec-12-02
41365214 1			225,000.00	223,096.82	Nov-19-03	7.000%	NJ - 90.00%	Paid Off - 360	Dec-13-02
41669367 1			62,225.00	61,802.56	Dec-01-03	8.100%	OH - 95.00%	Paid Off - 360	Dec-13-02
39926597 2			53,100.00	52,669.42	Dec-08-03	8.150%	MI - 90.00%	Paid Off - 360	Nov-05-02
40559247 2			195,000.00	193,183.96	Nov-19-03	6.990%	CA - 58.56%	Paid Off - 360	Nov-18-02
40704066 2			388,800.00	384,902.18	Nov-20-03	6.600%	CA - 90.00%	Paid Off - 360	Nov-22-02
40854507 2			209,000.00	207,055.84	Nov-26-03	6.990%	CA - 95.00%	Paid Off - 360	Nov-25-02
40905028 2			225,000.00	222,890.72	Dec-03-03	6.950%	CA - 90.00%	Paid Off - 360	Nov-29-02
40937641 2			140,000.00	139,167.47	Nov-26-03	8.750%	NJ - 80.00%	Paid Off - 360	Dec-13 - -02
40952277 2			360,000.00	356,933.96	Nov-14-03	7.450%	CA - 80.00%	Paid Off - 360	Dec-09-02
40980526 2			500,000.00	495,312.87	Nov-24-03	6.950%	NY - 66.67%	Paid Off - 360	Nov-25-02
40996647 2			500,000.00	496,262.02	Dec-01-03	8.125%	CA - 79.86%	Paid Off - 360	Dec-11-02
41024613 2			205,000.00	202,905.31	Dec-04-03	6.500%	CA - 82.00%	Paid Off - 360	Nov-30-02
41180530 2			342,000.00	339,514.80	Dec-10-03	7.750%	NY - 88.83%	Paid Off - 360	Dec-09-02
41353095 2			318,250.00	312,613.80	Nov-24-03	7.900%	CA - 95.00%	Paid Off - 240	Dec-27-02
					Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
					&n bsp;
	Current
	Number of Loans Liquidated					-	3	3
	Collateral Realized Loss/(Gain) Amount					-	149,225.43	149,225.43
	Net Liquidation Proceeds					-	130,232.24	130,232.24
	Cumulative
	Number of Loans Liquidated					-	3	3
&nbs p;	Collateral Realized Loss/(Gain) Amount					-	149,225.43	149,225.43
	Net Liquidation Proceeds					-	130,232.24	130,232.24
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 21 of 25	&nbs p;			© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.12%	0.08%
	3 Months Avg MDR					0.00%	0.04%	0.03%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.01%	0.01%
	CDR					0.00%	1.46%	1.00%
	3 Months Avg CDR					0.00%	0.49%	0.33%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.13%	0.09%
	SDA					0.00%	6.39%	4.39%
	3 Months Avg SDA Approximation					0.00%	2.35%	1.61%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	1.04%	0.72%	& nbsp;
											&n bsp;
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Av g Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 22 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
							& nbsp;
	Group 1
	Group 2
CDR A vg 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 23 of 25				© COPYRIGHT 2003 Deutsche Bank		&nbs p;
	&n bsp;
	Ameriquest Mortgage Securities, Inc. 2003-AR1										& nbsp;
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for December 26, 2003 Distribution									&nbs p;
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 3						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 281,000.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 279,457.67
Total Realized Loss Amount = 149,225.43
Total Net Liquidation Proceeds = 130,232.24
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
40091472 1		REO	73,100.00	72,732.90	-	10.050%	MO - 85.00%	360	Nov-13-02
40140592 1			95,400.00	94,828.65	-	9.200%	UT - 90.00%	360	Nov-06-02
40804866 1		REO	112,500.00	111,896.12	-	9.250%	AZ - 90.00%	360	Dec-04-02
					Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities, Inc. 2003-AR1
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
			&nb sp;
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Trigger Event in effect							No
	Stepdown Date has occurred				&nb sp;			No
	Balances 60+ days							17,449,528.68
	Ending Balance							321,819,128.52
	Delinquency Percentage							5.42%
	Balance of Me zzanine and C Class							52,000,078.00
	Ending Balance							321,968,353.95
	Credit Enhancement Percentage							16.15%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						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 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
	Libor for Current Period							1.118750%
	Special Servicing Fee Paid							0.00
	Current Period loan level losses							0.00
	Current Recoveries or Losses from Prior periods							149,225.43
	Total Current Losses							149,225.43
				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank