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) May 28,
1996
Structured Asset Securities Corporation, Series 1995-2
(Exact name of registrant as specified in its charter)
Delaware 33-48771 74-
2440850
(State or other jurisdiction (Commission
(IRS Employer
of incorporation or File Number)
Identification
organization) Number)
200 Vesey Street
New York, New York 10285-
0800
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including area code (212)
5265594
Structured Asset Securities Corporation,
Series 1995-2
Form 8-K
INDEX
Page Number
Item 5. Other Events
3
Item 7. Financial
Statements and Exhibits
3
SIGNATURES
4
INDEX OF EXHIBITS 5
ITEM 5. OTHER EVENTS
The Structured Asset Securities Corporation, Series 1995-2
makes monthly remittances to security holders. The latest
remittance was
made May 28, 1996. We have furnished a monthly remittance
statement delivered to the trustee with security holder
payment instructions.
Monthly Remittance
Statement...................................................
......Exhibit 21.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
21.1 Monthly Remittance Statement dated as of May 28,
1996.
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 thereunto duly
authorized.
Structured Asset Securities Corporation,
Series 1995-2
(Registrant)
By: Lehman Brothers
Name: Michael J. O'Hanlon
Title: Managing Director
INDEX OF EXHIBITS
Page of Sequentially Numbered Pages
21.1 Monthly Remittance Statement dated 6-14
as of May 28, 1996.
EXHIBIT 21.1 PAGE 6
Structured Asset Securities Corporation
Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution
Date: May 28, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Series Structure Summary Aggregate
Realized Aggregate Ending
Class Original
Principal
Losses Principal Aggregate Interest Undistributed
Principal
Class Description Principal Type Interest Type
Balance Pass Through Rate Balance Reduction
Shortfall Principal Factor
____________________________________________________________
____________________________________________________________
_______________________________________________ I-A
Senior Shift Interest WANR 149,022,521.00
7.08883405% 0.00 0.00 0.00
0.9486573435
I-B1 Subordinate Prorata WANR 12,606,143.00
7.08883405% 0.00 0.00 0.00
0.9997830336
I-B2 Subordinate Prorata WANR 8,554,169.00
7.08883405% 0.00 0.00 0.00
0.9997830356
I-B3 Subordinate Prorata WANR 4,051,975.00
7.08883405% 0.00 0.00 0.00
0.9997830342
I-B4 Subordinate Prorata WANR 1,890,921.00
7.08883405% 0.00 0.00 0.00
0.9997830317
I-B5 Subordinate Prorata WANR 3,961,930.12
7.08883405% 0.00 0.00 0.00
0.9997830325
II-A Senior Shift Interest Reduced PT
74,075,139.00
7.41308002% 0.00 0.00 0.00
0.7895685490
II-AX Senior Interest Only Notional IO
0.00 0.08000000% 0.00 0.00 0.00
0.0000000000
II-B1 Subordinate Prorata Reduced PT
812,312.00 7.59308002% 0.00 0.00
0.00 0.9914845158
II-B2 Subordinate Prorata Reduced PT
850,994.00 7.59308002% 0.00 0.00
0.00 0.9914845346
II-B3 Subordinate Prorata Reduced PT
386,815.00 7.59308002% 0.00 0.00
0.00 0.9914845340
II-B4 Subordinate Prorata Reduced PT
1,237,809.35 7.59308002% 0.00 0.00
0.00 0.9914845045
R Residual Priority Pay WANR
100.00 0.00000000% 0.00 0.00
0.00
0.0000000000
R-1 Residual Residual Residual 0.00
0.00000000% 0.00 0.00 0.00
0.0000000000
R-2 Residual Residual Residual 0.00
0.00000000% 0.00 0.00 0.00
0.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________ Totals
257,450,828.47 0.00 0.00 0.00
0.9095990888
Report 1 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 7
Structured Asset Securities Corporation
Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway
Distribution Date: May 28, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Distribution
Summary
Beginning
Principal Ending
Pass Through Principal Total
Interest Total Principal Balance
Principal Total
Class Record Date Rate
Balance Distribution Distribution
Reduction Balance Distribution
____________________________________________________________
____________________________________________________________
____________________________________ I-A 04/30/1996
7.08883405% 142,291,578.93 807,823.19
953,014.67 0.00 141,371,308.89 1,760,837.86
I-B1 04/30/1996 7.08883405% 12,606,028.81
71,567.43 5,521.86 0.00 12,603,407.89
77,089.29
I-B2 04/30/1996 7.08883405% 8,554,091.53
48,563.61 3,746.98 0.00 8,552,313.05 52,310.59
I-B3 04/30/1996 7.08883405% 4,051,938.29
23,003.82 1,774.88 0.00 4,051,095.86 24,778.70
I-B4 04/30/1996 7.08883405% 1,890,903.87
10,735.11 828.28 0.00 1,890,510.73
11,563.39
I-B5 04/30/1996 7.08883405% 3,961,894.23
22,492.62 1,735.44 0.00 3,961,070.51 24,228.06
II-A 04/30/1996 7.41308002% 60,235,470.18
372,108.63 1,748,070.16 0.00 58,487,400.02
2,120,178.79
II-AX 04/30/1996 0.08000000%
0.00 4,233.24 0.00 0.00 0.00
4,233.24
II-B1 04/30/1996 7.59308002%
806,177.62 5,101.14 782.85 0.00
805,394.77 5,883.99
II-B2 04/30/1996 7.59308002%
844,567.52 5,344.06 820.13 0.00
843,747.39 6,164.19
II-B3 04/30/1996 7.59308002%
383,893.88 2,429.11 372.79 0.00
383,521.09 2,801.90
II-B4 04/30/1996 7.59308002%
1,228,461.71 7,773.17 1,192.92 0.00 1,227,268.79
8,966.09
R 04/30/1996 0.00000000%
0.00 0.00 0.00 0.00 0.00
0.00
R-1 04/30/1996 0.00000000% 0.00
0.00 0.00 0.00 0.00 0.00
R-2 04/30/1996 0.00000000% 0.00
0.00 0.00 0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
____________________________________ Totals
236,855,006.57 1,381,175.13
2,717,860.96 0.00
234,177,038.99 4,099,036.09
Report 2 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 8
Structured Asset Securities Corporation Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services
Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution
Date: May 28, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Class Distribution Per 1,000 of Original
Balance
Total Other
Total Interest Scheduled Principal
Total Principal Principal
Ending
Distribution Principal
Distribution Distribution
Balance Principal
Class Cusip Original Balance
Factor Factor Factor Factor
Reduction Factor
____________________________________________________________
____________________________________________________________
_____________________________ I-A 863572FZ1 149,022,521.00
5.42081280 0.41824846 5.97685655 6.39510501
(0.21972941) 0.9486573435
I-B1 863572GB3 12,606,143.00 5.67718691
0.43802930 0.00000000 0.43802930
(0.23012114) 0.9997830336
I-B2 863572GC1 8,554,169.00 5.67718618
0.43802969 0.00000000 0.43802969
(0.23012171) 0.9997830356
I-B3 863572GD9 4,051,975.00 5.67718705
0.43802837 0.00000000 0.43802837
(0.23012235) 0.9997830342
I-B4 863572GH0 1,890,921.00 5.67718588
0.43802993 0.00000000 0.43802993
(0.23012067) 0.9997830317
I-B5 863572GJ6 3,961,930.12 5.67718746
0.43802893 0.00000000 0.43802893
(0.23012016) 0.9997830325
II-A 863572GE7 74,075,139.00 5.02339429
0.78964158 22.80896631 23.59860789 0.00000000
0.7895685490
II-AX 863572GG2 0.00 N/A
N/A N/A N/A N/A
N/A
II-B1 863572GK3 812,312.00
6.27977920 0.96373068 0.00000000 0.96373068
0.00000000 0.9914845158
II-B2 863572GL1 850,994.00
6.27978576 0.96373182 0.00000000 0.96373182
0.00000000 0.9914845346
II-B3 863572GM9 386,815.00
6.27977198 0.96374236 0.00000000 0.96374236
0.00000000 0.9914845340
II-B4 863572GN7 1,237,809.35 6.27977968
0.96373484 0.00000000 0.96373484
0.00000000 0.9914845045
R 863572GA5 100.00
0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.0000000000
R-1 N/A 0.00 N/A N/A
N/A N/A N/A N/A
R-2 N/A 0.00 N/A N/A
N/A N/A N/A N/A
____________________________________________________________
____________________________________________________________
_____________________________ Totals 257,450,828.47
0.9095990888
Report 3 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 9
Structured Asset Securities Corporation
Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway
Distribution Date: May 28, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Principal Distribution
Beginning
Principal Ending Current
Principal Scheduled Unscheduled
Other Total Principal Balance Principal
Undistributed
Class Balance Principal
Principal
Accretion Principal Distribution
Reduction*
Balance Principal
____________________________________________________________
____________________________________________________________
____________________________________________ I-A
142,291,578.93 62,328.44 890,686.23 0.00
0.00
953,014.67 (32,744.63) 141,371,308.89
0.00
I-B1 12,606,028.81 5,521.86 0.00 0.00 0.00
5,521.86 (2,900.94) 12,603,407.89
0.00
I-B2 8,554,091.53 3,746.98 0.00 0.00 0.00 3,746.98
(1,968.50) 8,552,313.05 0.00
I-B3 4,051,938.29 1,774.88 0.00 0.00 0.00 1,774.88
(932.45) 4,051,095.86 0.00
I-B4 1,890,903.87 828.28 0.00 0.00 0.00
828.28 (435.14) 1,890,510.73
0.00
I-B5 3,961,894.23 1,735.44 0.00 0.00 0.00 1,735.44
(911.72) 3,961,070.51 0.00
II-A 60,235,470.18 58,492.81
1,689,577.35 0.00 0.00 1,748,070.16 0.00
58,487,400.02 0.00
II-AX 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
II-B1 806,177.62 782.85 0.00 0.00 0.00
782.85 0.00 805,394.77 0.00
II-B2 844,567.52 820.13 0.00 0.00 0.00
820.13 0.00 843,747.39 0.00
II-B3 383,893.88 372.79 0.00 0.00 0.00
372.79 0.00 383,521.09 0.00
II-B4 1,228,461.71 1,192.92 0.00 0.00 0.00
1,192.92 0.00 1,227,268.79 0.00
R 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00
0.00
0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
0.00
0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
____________________________________________ Totals
236,855,006.57 137,597.38 2,580,263.58 0.00 0.00
2,717,860.96 (39,893.38) 234,177,038.99
0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00
Negative Amortization Principal Balance Reduction
(39,893.38)
Other 0.00
Report 4 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 10
Structured Asset Securities
Corporation Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway
Distribution Date: May 28, 1996
InvestorDirect: (800) 605-4167
Columbia, MD 21044-7800
Class Interest Distribution
Beginning
Negative Ending
Principal/
Interest Amortization
Principal/
Notional Interest
Shortfall/ Other Interest Total
Interest Notional
Class Pass-Through Rate Balance
Accrual (Recovery) Accretion Interest
Reduction Distribution Balance
____________________________________________________________
____________________________________________________________
_____________________________________________ I-A
7.08883405% 142,291,578.93 840,567.82 0.00
0.00
0.00 32,744.63 807,823.19
141,371,308.89
I-B1 7.08883405% 12,606,028.81 74,468.37 0.00 0.00
0.00 2,900.94 71,567.43
12,603,407.89
I-B2 7.08883405% 8,554,091.53 50,532.11 0.00 0.00
0.00 1,968.50 48,563.61
8,552,313.05
I-B3 7.08883405% 4,051,938.29 23,936.27 0.00 0.00
0.00 932.45 23,003.82 4,051,095.86
I-B4 7.08883405% 1,890,903.87 11,170.25 0.00 0.00
0.00 435.14 10,735.11 1,890,510.73
I-B5 7.08883405% 3,961,894.23 23,404.34 0.00 0.00
0.00 911.72 22,492.62 3,961,070.51
II-A 7.41308002% 60,235,470.18 372,108.63 0.00
0.00 0.00 0.00 372,108.63 58,487,400.02
II-AX 0.08000000% 63,498,570.92
4,233.24
0.00 0.00 0.00 0.00 4,233.24 61,747,332.07
II-B1 7.59308002% 806,177.62
5,101.14 0.00 0.00 0.00 0.00 5,101.14
805,394.77
II-B2 7.59308002% 844,567.52
5,344.06 0.00 0.00 0.00 0.00 5,344.06
843,747.39
II-B3 7.59308002% 383,893.88
2,429.11 0.00 0.00 0.00 0.00 2,429.11
383,521.09
II-B4 7.59308002% 1,228,461.71
7,773.17
0.00 0.00 0.00 0.00 7,773.17 1,227,268.79
R 0.00000000% 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-1 0.00000000% 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00000000% 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
_____________________________________________ Totals
1,421,068.51 0.00 0.00 0.00 39,893.38
1,381,175.13
Report 5 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 11
Structured Asset Securities
Corporation Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution Date:
May 28, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Fund Account Summary
____________________________________________________________
____________________________________________________________
______________________________________________________
Proceeds Account
Beginning Balance (0.00)
DEPOSITS: WITHDRAWALS:
Interest Net of Servicing Fee 1,433,416.01
Interest Payments
1,381,175.13
Scheduled Principal
137,597.38 Scheduled Principal Payment
137,597.38
Other Principal
2,580,263.58 Other Principal Payments
2,580,263.58
Negative Amortization
(39,893.38) Reserve Fund 1
0.00
Deposits from Reserve Fund 0.00
Fees and Expenses 12,347.50
Gain/Loss Adjustment 0.00 Other
Withdrawals 0.00
Other Deposits 0.00
Total Deposit 4,111,383.59 Total
Withdrawals
4,111,383.59
Ending Balance
(0.00)
____________________________________________________________
____________________________________________________________
______________________________________________________
Report 6
05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 12
Structured Asset Securities
Corporation Series 1995-02
Norwest Bank Minnesota, N.A. Contact:
Andy Rosenfeld
Securities Administration Services Reporting Month:
April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution Date:
May 28, 1996 InvestorDirect: (800) 605-
4167
Columbia, MD 21044-7800
Loss/Delinquency Detail Current
Current Current
Current Total Aggregate Aggregate
Aggregate Aggregate Total
Fraud Bankruptcy Special
Hazard Credit Current Fraud
Bankruptcy Special Hazard Credit Aggregate
Pool # Losses Losses Losses
Losses Losses Losses Losses
Losses Losses Losses
____________________________________________________________
____________________________________________________________
_________________________________________________
1 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00
2 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00
____________________________________________________________
____________________________________________________________
_________________________________________________ Totals
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
____________________________________________________________
____________________________________________________________
________________________________________
30 Days Delinquent 60 Days Delinquent 90 Days
Delinquent Foreclosures REO's
Totals
Number Balance Number Balance
Number Balance Number Balance Number
Balance Number Balance
1 51 10,182,434.00 16
3,539,000.71 7 2,404,457.07 18 5,254,576.46
5 1,328,925.18 97 22,709,393.42
2 14 1,552,302.78 2 239,958.57
4 768,488.32 13 1,155,149.33 1
25,924.08 34 3,741,823.08
____________________________________________________________
____________________________________________________________
________________________________________ Totals
65 11,734,736.78 18 3,778,959.28 11
3,172,945.39 31 6,409,725.79 6 1,354,849.26
131 26,451,216.50
Report 7 05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 13
Structured Asset Securities Corporation
Series 1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution Date: May
28, 1996 InvestorDirect: (800) 605-
4167
Columbia, MD 21044-7800
Collateral Summary Total|
Pool 1 Pool 2
____________________________________________________________
_____________________________________________ Monthly P&I
Constant 1,625,356.91| 1,115,017.82
510,339.09
| Positive Amortization
137,597.38|
75,935.88 61,661.50
Negative Amortization (39,893.38)|
(39,893.38) 0.00
Regular Curtailments 31,161.87|
25,449.52 5,712.35
Regular Curtailment Interest 201.15|
160.09 41.06
Prepaid Curtailments 7,322.21|
718.95 6,603.26
Prepaid Curtailment Interest
28.70| 0.00 28.70
Liquidations 2,540,510.61| 863,285.75
1,677,224.86
Principal Adjustments 1,039.04|
1,071.92 (32.88)
Total Principal Trust Distribution
2,677,967.58| 926,728.73 1,751,238.85
| Scheduled Interest 1,527,652.91|
1,078,975.32 448,677.59
Servicing Fee 74,017.21|
54,173.90 19,843.31
Master Servicing Fee 3,312.18|
722.25 2,589.93
Spread 20,219.67| 0.00
20,219.67
Total Pass-Through Interest
1,430,103.85| 1,024,079.17 406,024.68
| Beginning Balance
236,855,006.57| 173,356,435.65 63,498,570.92
Ending Balance 234,177,038.99|
172,429,706.92 61,747,332.07
Gross P&I Distribution 4,131,603.28|
1,951,530.15 2,180,073.13
Realized Losses/(Gains) 0.00|
0.00 0.00
Net P&I Trust Distribution 4,131,603.28|
1,951,530.15 2,180,073.13
| Beginning Loan Count
1160| 660 500
Number of Loan Payoffs 10|
1 9
Ending Loan Count 1150|
659 491
| Weighted Average Maturity
362.9008443800| 379.6505499900 317.1727402700
Weighted Average Gross Rate 7.739686470%|
7.468833670% 8.479137400%
Weighted Average Net Rate 7.364686370%|
7.093833570% 8.104137280%
Weighted Average Pass-Through Rate 7.245464830%|
7.088834050% 7.673080020%
Weighted Average Margin 2.592600000%|
2.399200000% 2.848000000%
| Advances on Delinquencies
|
Current Period Principal 9,516.01|
5,984.22 3,531.79
Current Period Interest 159,164.00|
133,883.34 25,280.66
|
|
Report 8
05/23/96 -- 4:41pm
Page 1 of 1
EXHIBIT 21.1 PAGE 14
Structured Asset Securities Corporation Series
1995-02
Norwest Bank Minnesota, N.A.
Contact: Andy Rosenfeld
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2114
11000 Broken Land Parkway Distribution Date:
May 28, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Credit Enhancement Summary Initial Current
Current
Current Current Current Coverage
Period Period Cumulative Coverage
Coverage Pool
Type/Purpose Amount Losses
Additions Losses Percentage Amount
Balance
____________________________________________________________
____________________________________________________________
___________________________________________ Subordination
34,353,068.47 0.00 0.00 0.00 14.65486549%
34,318,330.08 234,177,038.99
Scheduled Unscheduled
Principal Principal Percentage Percentage
Pool #
____________________________________________________________
_______________________________________ 1 Senior
82.08035565% 100.00000000%
1 Subordinate 17.91964435%
0.00000000%
2 Senior 94.86114303%
100.00000000%
2 Subordinate 5.13885697%
0.00000000%
Report 9 05/23/96 -- 4:42pm
Page 1 of 1
_
