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) April
25, 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, 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, Series 1995-4 makes
monthly remittances to security holders. The latest
remittance was made April 25, 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 April 25,
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, 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 6-13
as of April 25, 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: March 1996 Phone:
(410) 884-2098
11000 Broken Land Parkway
Distribution Date: April 25, 1996
InvestorDirect: (800) 605-
4167
Columbia, MD 21044-7800
Cover Page
Report Name
Report Number
____________________________________________________________
__ ________________
Series Structure Summary
1
Class Distribution Summary
2
Class Distribution Per 1,000 of
Original Balance
3
Class Principal Distribution
4
Class Interest Distribution
5
Fund Account Summary
6
Loss/Delinquency Detail
7
Collateral Summary
8
Credit Enhancement Summary
9
Structured
Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-
2098
11000 Broken Land Parkway
Distribution Date: April 25, 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 7.05953388% 0.00
0.00 0.00 0.9443819320
B1 Subordinate Prorata WANR
3,568,062.00 7.05953388%
0.00
0.00 0.00 0.9996623461
B2 Subordinate Prorata WANR
1,529,169.00 7.05953388%
0.00
0.00 0.00 0.9996623460
B3 Subordinate Prorata WANR
1,019,446.00 7.05953388%
0.00
0.00 0.00 0.9996623558
B4 Subordinate Prorata WANR
1,835,003.00 7.05953388%
0.00
0.00 0.00 0.9996623439
B5 Subordinate Prorata WANR
713,612.73 7.05953388%
0.00
0.00 0.00 0.9996623519
R Residual Shift Interest WANR
100.00 7.05953388% 0.00
0.00
0.00 1.0000000000
____________________________________________________________
__
____________________________________________________________
__ ___________________________________________
Totals
203,889,233.73 0.00
0.00 0.00 0.9467313770
Report 1
04/18/96 -- 8:20pm
Page 1 of 1
Structured Asset
Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting
Month: March 1996 Phone:
(410) 884-2098
11000 Broken Land Parkway
Distribution Date: April 25, 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 03/29/1996 7.05953388%
189,210,404.02
1,113,114.38 4,844,535.89 0.00
184,365,868.13 5,957,650.27
B1 03/29/1996 7.05953388%
3,567,177.24
20,985.51 320.01 0.00
3,566,857.23 21,305.52
B2 03/29/1996 7.05953388%
1,528,789.82
8,993.79 137.15 0.00
1,528,652.67 9,130.94
B3 03/29/1996 7.05953388%
1,019,193.22
5,995.86 91.43 0.00
1,019,101.79 6,087.29
B4 03/29/1996 7.05953388%
1,834,547.98
10,792.54 164.58 0.00
1,834,383.40 10,957.12
B5 03/29/1996 7.05953388%
713,435.78
4,197.10 64.00 0.00
713,371.78 4,261.10
R 03/29/1996 7.05953388%
100.00
0.59 0.00 0.00
100.00
0.59
____________________________________________________________
__
____________________________________________________________
__ ________________________________
Totals
197,873,648.06
1,164,079.77 4,845,313.06 0.00
193,028,335.00 6,009,392.83
Report 2
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Page 1 of 1
Structured
Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting
Month: March 1996 Phone:
(410) 884-2098
11000 Broken Land Parkway
Distribution
Date: April 25, 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
5.70173384 0.08694604 24.72834222 24.81528826
0.00000000 0.9443819320
B1 863572HJ5 3,568,062.00
5.88148692 0.08968734 0.00000000 0.08968734
0.00000000 0.9996623461
B2 863572HK2 1,529,169.00
5.88148857 0.08968924 0.00000000 0.08968924
0.00000000 0.9996623460
B3 863572HL0 1,019,446.00
5.88148857 0.08968597 0.00000000 0.08968597
0.00000000 0.9996623558
B4 N/A 1,835,003.00
5.88148357 0.08968923 0.00000000 0.08968923
0.00000000 0.9996623439
B5 N/A 713,612.73
5.88148140 0.08968450 0.00000000 0.08968450
0.00000000 0.9996623519
R 863572HH9 100.00
5.90000000 0.00000000 0.00000000 0.00000000
0.00000000 1.0000000000
____________________________________________________________
__
____________________________________________________________
__ _________________________
Totals 203,889,233.73
0.9467313770
Report 3
04/18/96 -- 8:20pm
Page 1 of 1
Structured
Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-
2098
11000 Broken Land Parkway
Distribution Date: April 25, 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 189,210,404.02 16,973.94
4,827,561.95
0.00 0.00 4,844,535.89 0.00
184,365,868.13 0.00
B1 3,567,177.24 320.01
0.00
0.00 0.00 320.01 0.00
3,566,857.23 0.00
B2 1,528,789.82 137.15
0.00
0.00 0.00 137.15 0.00
1,528,652.67 0.00
B3 1,019,193.22 91.43
0.00
0.00 0.00 91.43 0.00
1,019,101.79 0.00
B4 1,834,547.98 164.58
0.00
0.00 0.00 164.58 0.00
1,834,383.40 0.00
B5 713,435.78 64.00
0.00
0.00 0.00 64.00 0.00
713,371.78 0.00
R 100.00 0.00
0.00
0.00 0.00 0.00 0.00
100.00 0.00
____________________________________________________________
__
____________________________________________________________
__ ________________________________________
Totals 197,873,648.06 17,751.11
4,827,561.95
0.00 0.00 4,845,313.06 0.00
193,028,335.00 0.00
*Principal Balance Reduction
Realized Losses Principal Balance Reduction
0.00
Negative Amortization Principal Balance Reduction
0.00
Other
0.00
Report 4
04/18/96 -- 8:20pm
Page 1 of 1
Structured Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-2098
11000 Broken Land Parkway
Distribution Date: April 25, 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 7.05953388% 189,210,404.02
1,113,114.38 0.00 0.00
0.00 0.00 1,113,114.38 184,365,868.13
B1 7.05953388% 3,567,177.24
20,985.51 0.00 0.00
0.00
0.00 20,985.51 3,566,857.23
B2 7.05953388% 1,528,789.82
8,993.79 0.00 0.00
0.00
0.00 8,993.79 1,528,652.67
B3 7.05953388% 1,019,193.22
5,995.86 0.00 0.00
0.00
0.00 5,995.86 1,019,101.79
B4 7.05953388% 1,834,547.98
10,792.54 0.00 0.00
0.00
0.00 10,792.54 1,834,383.40
B5 7.05953388% 713,435.78
4,197.10 0.00 0.00 0.00
0.00 4,197.10 713,371.78
R 7.05953388% 100.00
0.59 0.00 0.00 0.00
0.00 0.59 100.00
____________________________________________________________
__
____________________________________________________________
__ _________________________________________
Totals
1,164,079.77 0.00 0.00
0.00 0.00 1,164,079.77
Report 5
04/18/96 -- 8:20pm
Page 1 of 1
Structured Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-
2098 11000 Broken Land Parkway
Distribution Date: April 25, 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 1,164,079.77
Interest Payments 1,164,079.77
Scheduled Principal 17,751.11
Scheduled Principal Payment 17,751.11
Other Principal 4,827,561.95
Other Principal Payments 4,827,561.95
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
6,009,392.83 Total Withdrawals
6,009,392.83
Ending Balance
0.00
____________________________________________________________
__
____________________________________________________________
__ __________________________________________________
Report 6
04/18/96 -- 8:20pm
Page 1 of 1
Structured Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-
2098
11000 Broken Land Parkway
Distribution Date: April 25, 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 4,851,565.50 2.51339551%
X Bankruptcy Losses
100,000.00 100,000.00 0.05180587%
X Fraud Losses
2,038,892.34 2,038,892.33 1.05626583%
____________________________________________________________
__
____________________________________________________________
__ ____________________________________
Totals
Report 7
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Page 1 of 1
Structured
Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim Knight
Securities Administration Services Reporting
Month: March 1996 Phone:
(410) 884-2098
11000 Broken Land Parkway
Distribution
Date: April 25, 1996 InvestorDirect:
(800) 605-4167
Columbia, MD 21044-7800
Collateral Summary
Total| Pool X
____________________________________________________________
__ ___________________________________________
Monthly P&I Constant
1,247,899.20| 1,247,899.20
|
Positive Amortization
17,751.11| 17,751.11
Negative Amortization
0.00| 0.00
Regular Curtailments
481,320.72| 481,320.72
Regular Curtailment Interest
0.00| 0.00
Prepaid Curtailments
0.00| 0.00
Prepaid Curtailment Interest
0.00| 0.00
Liquidations
4,350,942.28| 4,350,942.28
Principal Adjustments
(4,701.05)| (4,701.05)
Total Principal Trust Distribution
4,845,313.06| 4,845,313.06
|
Scheduled Interest
1,230,148.09| 1,230,148.09
Servicing Fee
66,068.32| 66,068.32
Master Servicing Fee
0.00| 0.00
Spread
0.00| 0.00
Total Pass-Through Interest
1,164,079.77| 1,164,079.77
|
Beginning Balance
197,873,648.06| 197,873,648.06
Ending Balance
193,028,335.00| 193,028,335.00
Gross P&I Distribution
6,009,392.83| 6,009,392.83
Realized Losses/(Gains)
0.00| 0.00
Net P&I Trust Distribution
6,009,392.83| 6,009,392.83
|
Beginning Loan Count
358| 358
Number of Loan Payoffs
7| 7
Ending Loan Count
351| 351
|
Weighted Average Maturity
0.0000000000| 0.0000000000
Weighted Average Gross Rate
0.000000000%| 7.460203630%
Weighted Average Net Rate
0.000000000%| 7.059533880%
Weighted Average Pass-Through Rate
0.000000000%| 7.059533880%
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
04/18/96 -- 8:20pm
Page 1 of 1
Structured
Asset Securities Corporation Series 1995-04
Norwest Bank Minnesota, N.A.
Contact: Tim
Knight Securities Administration Services
Reporting Month: March 1996
Phone: (410) 884-
2098 11000 Broken Land Parkway
Distribution Date: April 25, 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 4.48761415%
8,662,366.87 193,028,335.00
Scheduled Unscheduled
Principal Principal
Percentage Percentage
Pool #
____________________________________________________________
__ _____________________________________
X Senior
95.62188087% 100.00000000%
X Subordinate
4.37811913% 0.00000000%
Report 9
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Page 1 of 1
