Ameriquest Mortgage Sec Inc Asst Back PS THR Cert Ser 2003-2 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):  August 25, 2003


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

            AMERIQUEST MORTGAGE SEC INC ASST BACK PS THR CERT SER 2003-2
            (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-77012-11                          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
     August 25, 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 February 1,2003.


          Date:  Aug 28, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of August 25, 2003.






			

	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	August 25, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								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				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
				Total Number of Pages				24
			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
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Ameriquest Mtg Sec Inc					Cut-Off Date: February 1, 2003
	Certificate Insurer(s):							Closing Date: February 14, 2003
								First Payment Date: March 25, 2003
	Servicer(s):		Ameriquest Mortgage Corp Master Servicer		&nbs p;
								Distribution Date: August 25, 2003
	Underwriter(s):		Morgan Stanley & Co. Inc Co-Lead Underwriter					Record Date: August 22, 2003
			Citigroup Co-Lead Underwriter					July 31, 2003
&n bsp;
								&nb sp;
						Page 1 of 24					© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for August 25, 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		326,049,000.00			302,994,665.18	393,977.23	6,619,403.35	7,013,380.58	-	-	296,375,261.83
M-1		25,003,000.00			25,003,000.00	43,060.72	-	43,060.72	-	-	25,003,000.00
M-2		20,003,000.00			20,003,000.00	50,813.18	-	50,813.18	-	-	20,003,000.00
M-3		17,003,000.00			17,003,000.00	70,279.07	-	70,279.07	-	-	17,003,000.00
M-4		6,001,000.00			6,001,000.00	21,600.27	-	21,600.27	-	-	6,001,000.00
CE		6,000,288.05			6,000,909.00	1,860,218.87	-	1,860,218.87	-	-	6,000,909.00
P		100.00			100.00	150,264.92	-	150,264.92	-	-	100.00
R		-			-	-	-	-	-	-	-
Total		400,059,388.05			377,005,674.18	2,590,214.26	6,619,403.35	9,209,617.61	-	-	370,386,270.83
	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	07/25/03	08/24/03		A-Act/360	03072SER2	326,049,000.00	929.291809	1.208337	20.301867	21.510204	908.989943
M-1	07/25/03	08/24/03		A-Act/360	03072SES0	25,003,000.00	1,000.000000	1.722222	-	1.722222	1,000.000000
M-2	07/25/03	08/24/03		A - -Act/360	03072SET8	20,003,000.00	1,000.000000	2.540278	-	2.540278	1,000.000000
M-3	07/25/03	08/24/03		A-Act/360	03072SEU5	17,003,000.00	1,000.000000	4.133334	-	4.133334	1,000.000000
M-4	07/25/03	08/24/03		A-Act/360	03072SEV3	6,001,000.00	1,000.000000	3.599445	-	3.599445	1,000.000000
CE				A-30/360		6,000,288.0 5	1,000.103487	310.021595	-	310.021595	1,000.103487
P				A-30/360		100.00	1,000.000000	1,502,649.200000	-	1,502,649.200000	1,000.000000
R				A-30/360		-	-	-	-	-	-
							Page 2 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for August 25, 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)
A-1	326,049,000.00		2,788,773.22		27,924,705.44	1,749,032.73	29,673,738.17	32,462,511.39	-	-	296,375,261.83
M-1	25,003,000.00		285,579.41		-	-	-	285,579.41	-	-	25,003,000.00
M-2	20,003,000.00		329,818.91		-	-	-	329,818.91	-	-	20,003,000.00
M-3	17,003,000.00		448,116.42		-	-	-	448,116.42	-	-	17,003,000.00
M-4	6,001,000.00		138,313.90		-	-	-	138,313.90	-	-	6,001,000.00
CE	6,000,288.05		11,188,279.22		-	-	-	11,188,279.22	-	620.95	6,000,909.00
P	100.00		414,546.83		-	-	-	414,546.83	-	-	100.00
R	-		0.00		-	-	-	0.00	-	-	-
Total	400,059,388.05		15,593,427.91		27,924,705.44	1,749,032.73	29,673,738.17	45,267,166.08	-	620.95	370,386,270.83
	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	1.51000%	302,994,665.18			393,977.23	-	-	-	393,977.23	393,977.23	-
M-1	2.00000%	25,003,000.00			43,060.72	-	-	-	43,060.72	43,060.72	-
M-2	2.95000%	20,003,000.00			50,813.18	-	-	-	50,813.18	50,813.18	-
M-3	4.80000%	17,003,000.00			70,279.07	-	-	-	70,279.07	70,279.07	-
M-4	4.18000%	6,001,000.00			21,600.27	-	-	-	21,600.27	21,600.27	-
CE	5.9210 3%	6,000,909.00			1,860,218.87	-	-	-	1,860,218.87	1,860,218.87	-
P		100.00			150,264.92	-	-	-	150,264.92	150,264.92	-
R		-			-	-	-	-	-	-	-
Total		377,005,674.18			2,590,214.26	-	-	-	2,590,214.26	2,590,214.26	-
							Page 3 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collection Account Report for August 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					5,382,153.33	1,237,250.02	6,619,403.35
	Principa l Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					5,382,153.33	1,237,250.02	6,619,403.35
	Interest Collections					1,839,809.37	623,391.47	2,463,200.84
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	150,264.92
	Interest Fees					(14,712.79)	(9,338.12)	(24,050.91)
	TOTAL NET INTEREST					1,825,096.58	614,053.35	2,589,414.85
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					7,207,249.91	1,851,303.37	9,208,818.20
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					192,527.81	95,451.86	287,979.67
	Prepayments In Full					5,290,438.92	1,140,217.20	6,430,656.12
	Curtailments					(100,813.40)	1,580.96	(99,232.44)
	Liquidations					0.00	0.00	0.00
	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	0.00	0.00
	Delinquent Principal					(170,235.59)	(75,010.39)	(245,245.98)
	Advanced Principal					170,235.59	75,010.39	245,245.98
	TOTAL PRINCIPAL COLLECTED					5,382,153.33	1,237,250.02	6,619,403.35
							&n bsp;
				Page 4 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collection Account Report for August 25, 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					1,941,688.51	656,589.23	2,598,277.74
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00	&nbs p;
	Other Interest					0.00	0.00	0.00
	Relief Act Interest Shortfalls					0.00	0.00	0.00
&n bsp;	Prepayment Interest Shortfalls					(4,519.03)	(1,282.68)	(5,801.71)
	Compensating Interest					4,519.03	1,282.68	5,801.71
	Delinquent Interest					(1,724,753.85)	(523,718.71)	(2,248,472.56)
	Interest Advanced					1,622,874.71	490,520.95	2,113,395.66
	TOTAL INTEREST COLLECTED					1,839,809.37	623,391.47	2,463,200.84
				Page 5 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collection Account Report for August 25, 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
						&nb sp;
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Prepayment Charges							150,264.92
	Capitalized Interest Requirement							0.00
	TOTAL INTEREST OTHER ACCOUNTS							150,264.92
				& nbsp;
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					13,216.55	8,792.25	22,008.80
	Trustee Fee					1,496.24	545.87	2,042.11
	TOTA L INTEREST OTHER FEES					14,712.79	9,338.12	24,050.91
				&nbs p;
				Page 6 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for August 25, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Net WAC Rate Carryover Reserve Account							1,000.00
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Overcollateralized Amount							6,000,909.00
	Overcollateralization Release Amount							0.00
	Overcollateralization Deficiency Amount							0.00
	Overcollateralization Target Amount							6,000,909.00
	Excess Overcollateralization Amount							0.00
	Overcollateralization Increase Amount							0.00
				Page 7 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collateral Report for August 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1953	738	2691
	Prior					1,849	717	2,566
	Prefunding					-	-	-	;
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(26)	(6)	(32)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					1,824	711	2,535
	Principal Balance:
	Original					295,514,550.80	104,544,837.25	400,059,388.05
	Prior					276,229,641.23	100,776,032.95	377,005,674.18
	Prefunding					-	-	-
	Scheduled Principal					(192,527.81)	(95,451.86)	(287,979.67)
	Partial and Full Voluntary Prepayments					(5,189,625.52)	(1,141,798.16)	(6,331,423.68)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					270,847,487.90	99,538,782.93	370,386,270.83
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collateral Report for August 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					8.502377%	7.837384%	8.328599%
	Weighted Average Coupon Prior					8.440829%	7.8301 38%	8.277352%
	Weighted Average Coupon Current					8.435106%	7.818397%	8.270256%
	Weighted Average Months to Maturity Original					355	339	351
	Weighted Average Months to Maturity Prior					351	335	347
	Weighted Average Months to Maturity Current					350	334	346
	Weighted Avg Remaining Amortization Term Original					354	339	350
	Weighted Avg Remaining Amortization Term Prior					350	334	346
	Weighted Avg Remaining Amortization Term Current					349	333	345
	Weighted Average Seasoning Original					1.44	1.43	1.44
	Weighted Average Seasoning Prior					5.41	5.43	5.42
	Weighted Average Seasoning Current					6.40	6.41	6.40
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 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Collateral Report for August 25, 2003 Distribution										;
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					6.201%
	Weighted Average Margin Prior					6.200%
	Weighted Average Margin Current					6.200%
	Weighted Average Max Rate Original					14.505%	7.698%
	Weighted Average Max Rate Prior					14.447%	7.705%
	Weighted Average Max Rate Current					14.438%	7.696%
	Weighted Average Min Rate Original					8.505%	7.698%
	Weighted Average Min Rate Prior					8.447%	7.705%
	Weighted Average Min Rate Current					8.438%	7.696%
	Weighted Average Cap Up Original					1.000%
	Weighted Average Cap Up Prior					1.000%
	Weighted Average Cap Up Current					1.000%
	Weighted Average Cap Down Original					1.000%
	Weighted Average Cap Down Prior					1.000%
	Weighted Average Cap Down Current					1.000%
Note: Original information refers to deal issue.
SER VICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					13,216.55	8,792.25	22,008.80			&n bsp;
	Delinquent Servicing Fees					101,879.13	33,197.76	135,076.89
	TOTAL SERVICING FEES					115,095.68	41,990.01	157,085.69
			&nbs p;
	Compensating Interest					(4,519.03)	(1,282.68)	(5,801.71)
	Delinquent Servicing Fees					101,879.13	(33,197.76)	68,681.37
	COLLECTED SERVICING FEES					212,455.78	7,509.57	219,965.35
	Aggregate Advances with respect to this Distribution					1,793,110.30	565,531.34	2,358,641.64
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					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 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Delinquency Report for August 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			3,904,930.89	3,324,462.07	1,265,888.83	8,495,281.79
		% Balance			1.05%	0.90%	0.34%	2.29%
		# Loans			31	26	7	64
		% # L oans			1.22%	1.03%	0.28%	2.52%
FORECLOSURE		Balance		-	-	-	1,529,388.71	1,529,388.71
		% Balance		0.00%	0.00%	0.00%	0.41%	0.41%
		# Loans		-	- -	-	13	13
		% # Loans		0.00%	0.00%	0.00%	0.51%	0.51%
BANKRUPTCY		Balance		554,891.32	-	216,020.05	-	770,911.37
		% Balance		0.15%	0.00%	0.06%	0.00%	0.21%
		# Loans		4	-	2	-	6
		% # Loans		0.16%	0.00%	0.08%	0.00%	0.24%
REO		Balance		-	-	-	77,539.84	77,539.84
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.04%	0.04%
TOTAL		Balance		554,891.32	3,904,930.89	3,540,482.12	2,872,817.38	10,873,121.71
		% Balance		0.15%	1.05%	0.96%	0.78%	2.94%
		# Loans		4	31	28	21	84
		% # Loans		0.16%	1.22%	1.10%	0.83%	3.31%
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 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Delinquency Report for August 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			537,630.91	355,042.56	369,092.38	1,261,765.85
		% Balance			0.54%	0.36%	0.37%	1.27%
		# Loans			5	3	2	10
		% # Loans			0.70%	0.42%	0.28%	1.41%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		111,509.03	-	-	-	111,509.03
		% Balance		0.11%	0.00%	0.00%	0.00%	0.11%
		# Loans		1	-	-	-	1
		% # Loans		0.14%	0.00%	0.00%	0.00%	0.14%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		111,509.03	537,630.91	355,042.56	369,092.38	1,373,274.88
		% Balance		0.11%	0.54%	0.36%	0.37%	1.38%
		# Loans		1	5	3	2	11
		% # Loans		0.14%	0.70%	0.42%	0.28%	1.55%
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
			&nb sp;
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Delinquency Report for August 25, 2003 Distribution
										;
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			3,367,299.98	2,969,419.51	896,796.45	7,233,515.94
		% Balance			1.24%	1.10%	0.33%	2.67%
		# Loans			26	23	5	54
		% # Loans			1.43%	1.26%	0.27%	2.96%
FORECLOSURE		Balance		-	-	-	1,529,388.71	1,529,388.71
		% Balance		0.00%	0.00%	0.00%	0.56%	0.56%
		# Loans		-	-	-	13	13
		% # Loans		0.00%	0.00%	0.00%	0.71%	0.71%
BANKRUPTCY		Balance		443,382.29	-	216,020.05	-	659,402.34
		% Balance		0.16%	0.00%	0.08%	0.00%	0.24%
		# Loans		3	-	2	-	5
		% # Loans		0.16%	0.00%	0.11%	0.00%	0.27%
REO		Balance		-	-	-	7 7,539.84	77,539.84
		% Balance		0.00%	0.00%	0.00%	0.03%	0.03%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.05%	0.05%
TOTAL		Balance		443,382.29	3,367,299.98	3,185,439.56	2,503,725.00	9,499,846.83
		% Balance		0.16%	1.24%	1.18%	0.92%	3.51%
		# Loans		3	26	25	19	73
		% # Loans		0.16%	1.43%	1.37%	1.04%	4.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Deli nquent					3 or More Payments Delinquent
								&nbs p;
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	REO Report for August 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 1				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 78,000.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 77,539.84
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
40242844 2		78,000.00	77,539.84	Jan-01-03	8.250%	MO - 80.41%	360	Oct-31-02
				Page 14 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Foreclosure Report for August 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 8				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 1,049,700.00				Loan Group 2 = Group 2 Group
Total Current Balance = 1,045,126.53
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
39424270 2		84,700.00	84,308.88	Mar-01-03	9.450%	WI - 70.00%	360	Oct-28-02
40430548 2		307,500.00	306,098.74	Feb-01-03	8.250%	PA - 75.00%	360	Dec-31-02
41205261 2		135,000.00	134,530.19	Mar-01-03	8.800%	NJ - 90.00%	360	Jan-30-03
41814815 2		70,000.00	69,746.24	Feb-01-03	8.600%	WA - 49.65%	360	Jan-24-03
41941170 2		216,000.00	214,769.05	Mar-01-03	7.125%	CA - 80.00%	360	Jan-07-03
42024489 2		90,000.00	89,666.96	Mar-01-03	8.500%	NM - 90.00%	360	Jan-06-03
42263657 2		80,000.00	79,767.97	Mar-01-03	9.678%	NJ - 38.10%	360	Jan-30-03
42967182 2		66,500.00	66,238.50	Mar-01-03	8.200%	OH - 95.00%	360	Jan-31-0 3
				Page 15 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 2003 Distribution
	&nb sp;
	Prepayment Report - Voluntary Prepayments
					&nbs p;
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					26	6	32
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					26	6	32
	P aid in Full Balance					5,290,438.92	1,140,217.20	6,430,656.12
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					(100,813.40)	1,580.96	(99,232.44)
	Total Prepayment Amount					5,189,625.52	1,141,798.16	6,331,423.68
	Cumulative
	Number of Paid in Full Loans					116	24	140
	Number of Repurchased Loans					14	3	17
	Total Number of Loans Prepaid in Full					130	27	157
	Paid in Full Balance					21,700,861.16	4,005,053.06	25,705,914.22		& nbsp;
	Repurchased Loans Balance					1,761,801.06	336,378.75	2,098,179.81
	Curtailments Amount					30,690.68	89,920.73	120,611.41
	Total Prepayment Amount					23,493,352.90	4,431,352.54	27,924,705.44
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of d ollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					1.88%	1.13%	1.68%
	3 Months Avg SMM					1.61%	1.00%	1.45%
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.37%	0.72%	1.20%
	CPR					20.37%	12.79%	18.40%
	3 Months Avg CPR					17.70%	11.32%	16.04%
	12 Months Avg CPR
	Avg CPR Since Cut-off					15.31%	8.33%	13.51%
	PSA					1590.96%	997.10%	1436.80%
	3 Months Avg PSA Approximation					1634.97%	1043.35%	1481.04%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1950.15%	1060.54%	1721.06%
	Group 1
	Group 2
CPR by Groups					Total CPR
						��
PSA by Groups					Total PSA
				Page 17 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 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)										&nb sp;
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 o f 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for August 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
						&nbs p;
SUMMARY						LOAN GROUP
Total Loan Count = 32						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 6,460,051 .00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 6,430,656.12
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
39259825 1			417,900.00	415,486.35	Jul-28-03	7.750%	CA - 67.95%	Paid Off - 360	Oct-31-02
39641212 1			126,000.00	124,874.74	Jul-18-03	7.750%	MI - 84.00%	Paid Off - 360	Oct-24-02
42111583 1			180,000.00	179,206.03	Jul-23-03	7.650%	NY - 62.07%	Paid Off - 360	Jan-16-03
42422600 1			59,150.00	58,985.67	Jul-28-03	8.990%	OH - 47.32%	Paid Off - 360	Jan-30-03
42707349 1			75,000.00	73,863.05	Jul-31-03	7.600%	FL - 75.00%	Paid Off - 180	Jan-27-03
42752071 1			289,000.00	287,801.36	Jul-24-03	6.999%	MA - 89.75%	Paid Off - 360	Jan-30-03
38154910 2			261,250.00	259,859.61	Jul-11-03	8.759%	CA - 55.00%	Paid Off - 360	Sep-17-02
38531315 2			405,000.00	402,610.75	Jul-28-03	8.250%	CA - 73.64%	Paid Off - 360	Sep-27-02
38731816 2			382,500.00	380,137.81	Jul-23-03	8.250%	CA - 84.07%	Paid Off - 360	Sep-30-02
39403373 2			65,000.00	64,564.81	Jul-31-03	6.999%	IL - 51.59%	Paid Off - 360	Oct-25-02
39458161 2			119,250.00	118,891.04	Aug-01-03	10.900%	MI - 75.00%	Paid Off - 360	Oct-22-02
39839022 2			55,000.00	54,799.48	Jul-16-03	9.999%	MA - 47.41%	Paid Off - 360	Oct-29-02
40544322 2			156,000.00	155,577.60	Jul-15-03	10.750%	FL - 84.32%	Paid Off - 360	Nov-22-02
40826307 2			187,500.00	186,645.56	Jul-24-03	8.250%	NJ - 63.56%	Paid Off - 360	Nov-29-02
41613324 2			488,000.00	486,878.96	Jul-11-03	9.900%	IL - 79.74%	Paid Off - 360	Jan-29-03
41623620 2			68,000.00	67,869.68	Jul-31-03	10.750%	MI - 73.91%	Paid Off - 360	Jan-08-03
41924069 2			148,750.00	148,269.17	Jul-11-03	8.250%	FL - 85.00%	Paid Off - 360	Jan-08-03
41934274 2			220,500.00	219,960.33	Jul-28-03	9.599%	CA - 90.00%	Paid Off - 360	Jan-21-03
42217323 2			132,000.00	131,687.62	Jul-30-03	9.759%	DE - 80.00%	Paid Off - 360	Jan-29-03
42229799 2			150,001.00	149,727.99	Jul-15-03	10.990%	NY - 5 3.57%	Paid Off - 360	Jan-10-03
42235408 2			198,000.00	197,391.69	Aug-04-03	8.500%	CA - 90.00%	Paid Off - 360	Jan-15-03
42291138 2			276,800.00	276,203.29	Jul-18-03	10.200%	MD - 80.00%	Paid Off - 360	Jan-31-03
42432195 2			298,900.00	297,427.22	Jul-30-03	7.300%	CA - 70.00%	Paid Off - 360	Jan-28-03
42567164 2			117,000.00	115,285.23	Jul-29-03	7.990%	MN - 65.36%	Paid Off - 180	Jan-28-03
42596841 2			98,000.00	97,721.17	Aug-07-03	8.875%	WA - 84.48%	Paid Off - 360	Jan-27-03
42615435 2			255,000.00	254,070.00	Jul-30-03	7.650%	CA - 73.91%	Paid Off - 360	Jan-29-03
42630343 2			217,000.00	216,398.12	Aug-01-03	8.999%	NY - 72.33%	Paid Off - 360	Jan-27-03
42709998 2			184,500.00	183,661.01	Jul-18-03	8.500%	CA - 90.00%	Paid Off - 360	Jan-30-03
42897199 2			352,000.00	351,075.10	Jul-23-03	9.259%	NY - 80.00%	Paid Off - 360	Jan-31-03
42982223 2			223,250.00	222,287.41	Aug-07-03	6.800%	FL - 95.00%	Paid Off - 360	Jan-27-03
43105758 2			145,800.00	143,681.69	Jul-22-03	8.375%	CO - 89.45%	Paid Off - 180	Jan-30-03
43130020 2			108,000.00	107,756.58	Jul-22-03	9.990%	OH - 80.00%	Paid Off - 360	Jan-31-03
					Page 19 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report - Collateral
								&nbs p;
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds		;			-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	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 Appro ximation
				Page 20 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR					0.00%	0.00%	0.00%		;
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR					0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%
				&nb sp;
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg 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 21 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg 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 22 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for August 25, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
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
SPACE INTENTIONALLY LEFT BLANK
;
					Page 23 of 24				© COPYRIGHT 2003 Deutsche Bank
	Ameriquest Mortgage Securities Inc. 2003-2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Stepdown Date has occurred							No
	Delinquency Percentage							1.88%
	Balances 60+ days							6,968,190.82
&nbs p;	Ending Balance							370,386,270.83
	Credit Enhancement Percentage							19.98%
	Balance of Mezzanine and C Class							74,010,909.00
	Ending Balance							370,386,270.83
	Ending Balance of Fixed Loans - used for Trigger							99,538,782.93
	Ending Balance of Adjustable Loans - used for Trigger							270,847,487.90
	Trigger Event in effect							No
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							1.100000%
	Net WAC Rate Carryover Amt: Class M-1 unpaid							0.00
	Current Period loan level losse s							0.00
	Current Recoveries or Losses from Prior periods							0.00
	Total Current Losses							0.00
				Page 24 of 24				© COPYRIGHT 2003 Deutsche Bank