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 1995-4
(Exact name of registrant as specified in its charter)
Delaware 33-48771 N/A
(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) 526-
5594
Structured Asset Securities Corporation, Series 1995-4
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 1995-4
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 1995-4
(Registrant)
By: Lehman Brothers
Name: Prue Larocca
Title: Vice-President
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 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
_______________________________________________ A
Senior Shift Interest WANR 195,223,841.00
7.05655297% 0.00 0.00 0.00
0.9255146597
B1 Subordinate Prorata WANR
3,568,062.00 7.05655297% 0.00 0.00
0.00 0.9995741638
B2 Subordinate Prorata WANR
1,529,169.00 7.05655297% 0.00 0.00
0.00 0.9995741674
B3 Subordinate Prorata WANR
1,019,446.00 7.05655297% 0.00 0.00
0.00 0.9995741707
B4 Subordinate Prorata WANR
1,835,003.00 7.05655297% 0.00 0.00
0.00 0.9995741642
B5 Subordinate Prorata WANR
713,612.73 7.05655297% 0.00 0.00
0.00 0.9995741668
R Residual Shift Interest WANR
100.00 7.05655297% 0.00 0.00 0.00
1.0000000000
____________________________________________________________
____________________________________________________________
_______________________________________________ Totals
203,889,233.73 0.00 0.00 0.00
0.9286622253
Report 1 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 7
Structured Asset Securities
Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
____________________________________ A 04/30/1996
7.05655297% 184,365,868.13 1,084,156.27
3,683,341.36 0.00 180,682,526.77 4,767,497.63
B1 04/30/1996 7.05655297%
3,566,857.23 20,974.76 314.64 0.00
3,566,542.59 21,289.40
B2 04/30/1996 7.05655297%
1,528,652.67 8,989.18 134.84 0.00
1,528,517.83 9,124.02
B3 04/30/1996 7.05655297%
1,019,101.79 5,992.79 89.90 0.00
1,019,011.89 6,082.69
B4 04/30/1996 7.05655297%
1,834,383.40 10,787.02 161.81 0.00
1,834,221.59 10,948.83
B5 04/30/1996 7.05655297%
713,371.78 4,194.95 62.93 0.00 713,308.85
4,257.88
R 04/30/1996 7.05655297%
100.00 0.59 0.00 0.00 100.00 0.59
____________________________________________________________
____________________________________________________________
____________________________________ Totals
193,028,335.00 1,135,095.56 3,684,105.48 0.00
189,344,229.52 4,819,201.04
Report 2 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 8
Structured Asset Securities Corporation
Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
_____________________________ A 863572HG1
195,223,841.00 5.55340098 0.08330514
18.78396712 18.86727226 0.00000000 0.9255146597
B1 863572HJ5 3,568,062.00 5.87847408
0.08818232 0.00000000 0.08818232 0.00000000
0.9995741638
B2 863572HK2 1,529,169.00 5.87847386
0.08817861 0.00000000 0.08817861 0.00000000
0.9995741674
B3 863572HL0 1,019,446.00 5.87847713
0.08818515 0.00000000 0.08818515 0.00000000
0.9995741707
B4 N/A 1,835,003.00 5.87847540
0.08817969 0.00000000 0.08817969 0.00000000
0.9995741642
B5 N/A 713,612.73 5.87846856
0.08818509 0.00000000 0.08818509 0.00000000
0.9995741668
R 863572HH9 100.00 5.90000000
0.00000000 0.00000000 0.00000000 0.00000000
1.0000000000
____________________________________________________________
____________________________________________________________
_____________________________ Totals 203,889,233.73
0.9286622253
Report 3 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 9
Structured Asset
Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
____________________________________________ A
184,365,868.13 16,263.15 3,667,078.21 0.00 0.00
3,683,341.36 0.00 180,682,526.77 0.00
B1 3,566,857.23 314.64 0.00 0.00 0.00
314.64 0.00 3,566,542.59 0.00
B2 1,528,652.67 134.84 0.00 0.00 0.00
134.84 0.00 1,528,517.83 0.00
B3 1,019,101.79 89.90 0.00 0.00 0.00
89.90 0.00 1,019,011.89 0.00
B4 1,834,383.40 161.81 0.00 0.00 0.00
161.81 0.00 1,834,221.59 0.00
B5 713,371.78 62.93 0.00 0.00 0.00
62.93 0.00 713,308.85 0.00
R 100.00 0.00 0.00 0.00 0.00
0.00 0.00 100.00 0.00
____________________________________________________________
____________________________________________________________
____________________________________________ Totals
193,028,335.00 17,027.27 3,667,078.21 0.00 0.00
3,684,105.48 0.00 189,344,229.52 0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00
Negative Amortization Principal Balance Reduction
0.00
Other 0.00
Report 4 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 10
Structured Asset
Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
_____________________________________________ A
7.05655297% 184,365,868.13 1,084,156.26 0.00 0.00
0.01 0.00 1,084,156.27 180,682,526.77
B1 7.05655297% 3,566,857.23 20,974.76
0.00 0.00 0.00 0.00 20,974.76 3,566,542.59
B2 7.05655297% 1,528,652.67 8,989.18
0.00 0.00 0.00 0.00 8,989.18 1,528,517.83
B3 7.05655297% 1,019,101.79 5,992.79
0.00 0.00 0.00 0.00 5,992.79 1,019,011.89
B4 7.05655297% 1,834,383.40 10,787.02
0.00 0.00 0.00 0.00 10,787.02 1,834,221.59
B5 7.05655297% 713,371.78 4,194.95 0.00
0.00 0.00 0.00 4,194.95 713,308.85
R 7.05655297% 100.00 0.59
0.00 0.00 0.00 0.00 0.59 100.00
____________________________________________________________
____________________________________________________________
_____________________________________________ Totals
1,135,095.55 0.00 0.00 0.01 0.00 1,135,095.56
Report 5 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 11
Structured Asset Securities Corporation
Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
1,135,095.56 Interest Payments
1,135,095.56
Scheduled Principal
17,027.27 Scheduled Principal Payment
17,027.27
Other Principal
3,667,078.21 Other Principal Payments
3,667,078.21
Negative Amortization 0.00
Reserve Fund 1 0.00
Deposits from Reserve Fund 0.00
Fees and Expenses 0.00
Gain/Loss Adjustment 0.00 Other
Withdrawals 0.00
Other Deposits 0.00
Total Deposit 4,819,201.04 Total
Withdrawals
4,819,201.04
Ending Balance
0.00
____________________________________________________________
____________________________________________________________
______________________________________________________
Report 6
05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 12
Structured Asset Securities Corporation
Series 1995-04
Norwest Bank Minnesota, N.A. Contact:
Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
____________________________________________________________
____________________________________________________________
_________________________________________________
X 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
Pool Initial Loss Current Loss
Current Loss
# Loss Type Limit Amount
Limit Amount Limit Percent
____________________________________________________________
______________________________________________________ X
Special Hazard Losses 4,858,898.00
4,851,565.49 2.56229910%
X Bankruptcy Losses 100,000.00
100,000.00 0.05281386%
X Fraud Losses 2,038,892.34
2,038,892.33 1.07681778%
____________________________________________________________
____________________________________________________________
________________________________________ Totals
Report 7 05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 13
Structured Asset Securities Corporation
Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
11000 Broken Land Parkway Distribution Date:
May 28, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Collateral Summary
Total| Pool
X
____________________________________________________________
_____________________________________________ Monthly P&I
Constant 1,216,330.17| 1,216,330.17
|
Positive Amortization 17,027.27|
17,027.27
Negative Amortization 0.00|
0.00
Regular Curtailments 348,185.91|
348,185.91
Regular Curtailment Interest 0.00|
0.00
Prepaid Curtailments 0.00|
0.00
Prepaid Curtailment Interest 0.00|
0.00
Liquidations 3,322,250.00| 3,322,250.00
Principal Adjustments (3,357.70)|
(3,357.70)
Total Principal Trust Distribution
3,684,105.48| 3,684,105.48
|
Scheduled Interest 1,199,302.90| 1,199,302.90
Servicing Fee 64,207.34| 64,207.34
Master Servicing Fee 0.00|
0.00
Spread 0.00| 0.00
Total Pass-Through Interest
1,135,095.56| 1,135,095.56
|
Beginning Balance 193,028,335.00|
193,028,335.00
Ending Balance 189,344,229.52|
189,344,229.52
Gross P&I Distribution 4,819,201.04|
4,819,201.04
Realized Losses/(Gains) 0.00|
0.00
Net P&I Trust Distribution 4,819,201.04|
4,819,201.04
|
Beginning Loan Count 351|
351
Number of Loan Payoffs 5|
5
Ending Loan Count 346| 346
|
Weighted Average Maturity 0.0000000000|
0.0000000000
Weighted Average Gross Rate 0.000000000%|
7.455710988%
Weighted Average Net Rate 0.000000000%|
7.056552972%
Weighted Average Pass-Through Rate 0.000000000%|
7.056552972%
Weighted Average Margin 0.000000000%|
0.000000000%
|
Advances on Delinquencies
|
Current Period Principal 0.00|
0.00
Current Period Interest 0.00|
0.00
|
|
Report 8
05/21/96 -- 2:24pm
Page 1 of 1
EXHIBIT 21.1 PAGE 14
Structured Asset Securities Corporation Series
1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: April 1996 Phone:
(410) 884-2098
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
8,665,292.73 0.00 0.00 0.00
4.57452692% 8,661,602.75 189,344,229.52
Scheduled Unscheduled
Principal Principal Percentage Percentage
Pool #
____________________________________________________________
_______________________________________ X Senior
95.51238585% 100.00000000%
X Subordinate 4.48761415%
0.00000000%
Report 9 05/21/96 -- 2:25pm
Page 1 of 1
_
