8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):  April 3, 2003

American Residential Investment Trust, Inc.
(Exact name of registrant as specified in its charter)

Maryland	001-13485	33-0741174
(State or other jurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No.)

10421 Wateridge Circle, Suite 250, San Diego, CA	92121
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:  (858) 909-1200

Item 7.  Financial Statements and Exhibits.

(c)  Exhibits

Exhibit	Description
99.1	April 3, 2003 Press Release by American Residential Investment Trust, Inc.
99.2	April 9, 2003 Press Release by American Residential Investment Trust, Inc.

Item 9.  Regulation FD Disclosure (Information Below is being Furnished Under Item 12)

On April 3, 2003, American Residential Investment Trust, Inc. (the “Company”) issued a press release describing selected results of the Company for the quarter ended March 31, 2003.  On April 9, 2003, the Company issued another press release updating certain of its estimates regarding results of the Company for the same period.  Pursuant to SEC Release No. 33-8216, these press releases are attached hereto as Exhibits 99.1 and 99.2, respectively, and are being furnished, not filed, under Item 12, Results of Operations and Financial Condition, of this Report on Form 8-K.

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SIGNATURES

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 Residential Investment Trust, Inc.
Date:  April 9, 2003	By:	/s/ Judith Berry
		Judith Berry
		Chief Financial Officer

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EXHIBIT INDEX

Exhibit	Description
99.1	April 3, 2003 Press Release by American Residential Investment Trust, Inc.
99.2	April 9, 2003 Press Release by American Residential Investment Trust, Inc.

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EX-99.1

Exhibit 99.1

April 3, 2003 Press Release

AMERICAN MORTGAGE NETWORK FUNDS $863 MILLION
OF MORTGAGE LOANS IN MARCH—Warehouse Capacity Increased by $250 Million—

San Diego, CA, April 3 — American Mortgage Network (AmNet), a wholly owned subsidiary of American Residential Investment Trust, Inc. (Amex®: INV), reported that it had funded $863 million of home mortgages in March 2003, compared to $618 million in February 2003. For the quarter ended March 31, 2003, AmNet funded a record $2.1 billion in home mortgages compared to $1.9 billion in the fourth quarter of 2002.

Average loan fundings per workday increased 26%, from $32.6 million in February to $41.1 million in March. New loan applications were $1.8 billion in March, compared to $1.3 billion in February. Average daily new loan applications were $86.0 million in March, a 24% increase from February 2003.

“We continue to experience strong demand for refinancing throughout all our regions” said Chief Executive Officer John M. Robbins, Jr.  “A solid housing market, coupled with low interest rates, is generating a significant level of loan origination activity.  It is now predicted by Freddie Mac that the overall residential mortgage market will be $2.2 trillion in 2003, or the second largest market in history. Our core strengths in mortgage banking are enhancing our ability to increase our market share and develop ongoing relationships with the mortgage broker community.”

AmNet began operations in November 2001 to serve the wholesale lending channel. As the result of a recent $250 million increase in the Countrywide Warehouse Lending credit facility, AmNet now has $960 million in warehouse capacity and is approved to do business in 45 states either by license or exemption.

About American Mortgage Network

Headquartered in San Diego, California, AmNet is a wholly owned subsidiary of American Residential Investment Trust, Inc. AmNet originates mortgages for the national mortgage broker community through its network of regional centers and over the Internet. AmNet has regional centers in Orange County, California; Ontario, California; Sacramento, California; San Diego, California; New Haven, Connecticut; Denver, Colorado; Atlanta, Georgia; Minneapolis, Minnesota; Cherry Hill, New Jersey;

Portland, Oregon; Providence, Rhode Island and Richmond, Virginia as well as offices in Tampa, Florida and Seattle, Washington. For more information, please visit www.amnetmortgage.com.

About American Residential Investment Trust

American Residential Investment Trust, Inc. was formally a real estate investment trust (REIT) that invested in subprime residential mortgage assets.  Pursuant to a certain proposals approved by the shareholders at the 2002 annual meeting, the Company decided to terminate its REIT status and deploy capital to its mortgage banking business.  Effective for the 2003 calendar year, the Company has made tax elections to terminate its status as a REIT.  For more information, please visit www.amerreit.com.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of federal securities laws.  Forward-looking statements include statements regarding the size of the residential mortgage market in 2003.  Actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to: interest rate volatility and the level of interest rates generally; general economic conditions; the availability of suitable mortgage assets; the availability of financing for the origination of mortgage loans; and other risk factors outlined in American Residential Investment Trust’s SEC reports.

INVESTOR AND ANALYST	MEDIA RELATIONS
RELATIONS CONTACTS	CONTACT
Judith Berry	Corinne Forti
Executive Vice President and Chief Financial Officer	President
American Residential Investment Trust, Inc.	Forti Communications Inc.
(858) 909-1230	(805) 498-0113
jberry@amnetmortgage.com	forticomm@aol.com
Clay Strittmatter
Senior Vice President, Finance
American Residential Investment Trust, Inc.
(858) 909-1340
cstrittmatter@amnetmortgage.com

EX-99.2

Exhibit 99.2

April 9, 2003 Press Release

AMERICAN RESIDENTIAL INCREASES FIRST QUARTER EARNINGS GUIDANCE—Q1 Mortgage Fundings Set New AmNet Record—

San Diego, CA, April 9, 2002 — American Residential Investment Trust, Inc. (AMEX: INV) announced today that its earnings for the quarter ended March 31, 2003 are expected to surpass previous guidance. Based on a preliminary review of quarterly data, the Company now expects its first quarter net income to between $5.2 million and $5.6 million, or between $0.65 and $0.70 per diluted share. The effective combined federal and state income tax rate for the Company is expected to be approximately 25% for 2003. The Company previously estimated that net income for the three months ended March 31, 2003 would be between $3.6 million and $4.8 million, or between $0.45 and $0.60 per diluted share.

The Company recently reported that its mortgage banking subsidiary, American Mortgage Network (AmNet), originated a record $863 million in home mortgages in March, bringing total loan funding volume for the first quarter to $2.1 billion. AmNet had expected to fund mortgages in the range of $1.5 billion to $1.9 billion for the quarter. March loan production was 40% higher than February, with an increase in average daily fundings of 26%.  New loan applications were $86 million per workday in March, a 24% increase from February 2003. The Company also recently announced a $250 million increase in its Countrywide Warehouse Lending credit facility, expanding its total warehouse borrowing capacity to $960 million.

Commenting on guidance for the first quarter, John M. Robbins, Jr., Chief Executive Officer, said, “The increase in consolidated earnings for the quarter was driven by higher volumes and better than expected gross margins.  Refinancing activity is strong and the housing market remains robust, driven not only by low interest rates but also by the fundamental belief in the intrinsic value of home ownership.”

The Company noted that its unrestricted cash and cash equivalents balance was approximately $23.1 million at March 31, 2003, as compared to approximately $13.6 million at December 31, 2002.  The cash and cash equivalents balance totaled approximately $2.91 per share at March 31, 2003.  Based on updated guidance for the first quarter, the Company’s book value per share is expected to be between $8.14 and $8.19 as of March 31, 2003.

The Company plans to report first quarter financial results in late April or early May, at which time it will update guidance for the full year 2003.

About American Mortgage Network

Headquartered in San Diego, California, American Mortgage Network is a wholly owned subsidiary of American Residential Investment Trust, Inc. AmNet originates loans for the national mortgage broker community through its network of regional centers and over the Internet. AmNet has regional centers in Ontario, California; Sacramento, California; San Diego, California; Denver, Colorado; New Haven, Connecticut; Atlanta, Georgia; Minneapolis, Minnesota; Cherry Hill, New Jersey; Portland, Oregon and Richmond, Virginia as well as offices in Orange County, California; Tampa, Florida; and Seattle, Washington.  For more information, please visit www.amnetmortgage.com.

About American Residential Investment Trust

American Residential Investment Trust, Inc. is the parent company of American Mortgage Network.  The Company recently terminated its status as a mortgage REIT. For more information, please visit www.amerreit.com.

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of federal securities laws.  Forward-looking statements include statements regarding the Company’s expected net earnings and earnings per share for the quarter ended March 31, 2003, the effective combined federal and state income tax rate for the corporation for 2003, the Company’s expected book value per share for the quarter ended March 31, 2003, the anticipated timing of reporting first quarter 2003 financial results and the anticipated timing of the Company updating guidance for 2003. Actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to: uncertainty as to the percentage of the pipeline that will result in mortgage loan fundings; fluctuation in the margins, net of hedging, of loans in the Company’s pipeline; the predictability of the Company’s expenses; the future correlation of volatility in forward mortgage sale instruments to the Company’s loan lock commitments; general economic conditions; interest rate volatility and the level of interest rates generally; the availability of financing for the origination of mortgage loans; the impact of leverage; the Company’s liquidity position; the reliability of forecasting assumptions, including the anticipated earnings and net operating loss carry forwards for AmNet, used to estimate the expected effective combined federal and state income tax rate for 2003; the overall demand for mortgage loans and other risk factors outlined in American Residential Investment Trust’s SEC reports.

INVESTOR AND ANALYST	MEDIA RELATIONS
RELATIONS CONTACTS	CONTACT
Judith Berry	Corinne Forti
Executive Vice President and Chief Financial Officer	President
American Residential Investment Trust, Inc.	Forti Communications Inc.
(858) 909-1230	(805) 498-0113
jberry@amnetmortgage.com	forticomm@aol.com
Clay Strittmatter
Senior Vice President, Finance
American Residential Investment Trust, Inc.
(858) 909-1340
cstrittmatter@amnetmortgage.com