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 26, 1996
STRUCTURED ASSET SECURITIES CORPORATION (as depositor under
the Trust Agreement dated as of May 1, 1995 providing for the issuance of
Structured Asset Securities Corporation Mortgage Pass-Through Certificates,
Series 1995-1)
Structured Asset Securities Corporation, Series 1995-1
(Exact name of registrant as specified in its charter)
Delaware 33-48771-06 74-2440850
(State or Other Jurisdiction (Commission (I.R.S.Employer
of Incorporation) File Number) Identification No.)
c/o The First National Bank of Chicago,
Corporate Trust Services Division- 9th Floor
1 N. State Street, Chicago, IL 60670-0126
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (312) 407-1902
Item 5. Other Events
On behalf of Structured Asset Securities
Corporation Mortgage Pass-Through Certificates
Series 1995-1, a Trust created pursuant to the
Trust Agreement, dated May 1, 1995, by The
First National Bank of Chicago, as trustee for the
Trust, the Trustee has caused to be filed with the
Commission, the Monthly Report dated August
26, 1996. The Monthly Report is filed pursuant
to and in accordance with current Commission
policy in the area. The filing of the Monthly
Report will occur subsequent to each monthly
distribution to the holders of the Trust's Class A
and Class B Certificates, Due January 25, 2026.
A. Monthly Report Information:
Aggregate distribution information for the current
distribution date August 26, 1996.
Principal Interest Ending Balance
$484,299.33 $376,338.34 $62,103,387.13
B. No delinquency in payment under the Certificate
Guaranty Insurance Policy has occurred.
C. Have any deficiencies occurred? NO.
Date:
Amount:
D. Were any amounts paid or are any amounts payable
under the Certificate Guaranty Insurance Policy? NO
Amount:
E. Are there any developments with respect to the
Certificate Guaranty Insurance Policy?
NONE.
F. Item 1: Legal Proceedings: NONE
G. Item 2: Changes in Securities: NONE
H. Item 4: Submission of Matters to a Vote of Security
Holders:
NONE
I. Item 5: Other Information - Form 10-Q, Part II - Items
1,2,4,5 if applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No.
1. Monthly Distribution Report for August 26, 1996.
STRUCTURED ASSETS SECURITIES CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1995-1
CERTIFICATE HOLDERS' REPORT
Distribution Date: 26-Aug-96
Beginning
Certificate Principal Interest Total
Class Balance Distribution Distribution Distribution
A 59330076.67 484299.33 356000.82 840300.15
B 3249067.12 0.00 20336.91 20336.91
R 100.00 0.00 0.61 0.61
Total 62579243.79 484299.33 376338.34 860637.67
Ending
Deferred Realized Certificate
Class Interest Losses Balance
A 8442.67 NA 58854220.01
B 0 0 3249067.12
R 0 NA 100
Total 8442.67 0 62103387.13
AMOUNTS PER $1,000 UNIT
Principal Interest Total
Class Distribution Distribution Distribution
A 6.61616096 4.86343586 11.47959681
B 0.00000000 6.25930744 6.25930744
R 0.00000000 6.10000000 6.10000000
Ending
Deferred Realized Certificate
Class Interest Losses Balance
A 0.11533789 0.00000000 804.02546219
B 0.00000000 0.00000000 1000.00000000
R 0.00000000 0.00000000 1000.00000000
Information pursuant to Section 4.3 (a) of the
Trust Agreement dated May 1, 1995
i. Principal Distributions See Above
Summary of Principal Collections:
Scheduled Principal $44,313.97
Prepayments $439,811.53
Other Principal $172.88
Total Principal $484,298.38
ii. Interest Distributions See Above
iii. Class R Distributions See Above
iv. Master Servicer Advances: Principal and Interest Advances $17,546.67
Taxes and Insurance Advances $0.00
Other Expense Advances $0.00
v. Aggregate Principal Balance of the Mortgage Loans $62,133,417.23
as of the Due Date
vi. Aggregate Certificate Balances and allocation of Realized Losses See Above
vii. Servicing Fees $19,555.95
Insurance Prem $6,921.85
viii. Delinquency Information Aggregate
Scheduled
Number Principal Balance
Total Loans Remaining 363 $62,103,558.86
One Month Delinquent 2 $294,383.35
Two Months Delinquent 0 $0.00
Three Months or More Delinquent 1 $142,310.71
Loans in Foreclosure 0 $0.00
Loans in Bankruptcy 0 $0.00
Loans moved to REO 0 $0.00
ix. Book Value of REO Properties as of Due Date $0.00
x. REO Information
Loans that become REO Properties during the preceding calendar month:
Loan Number Principal Balance
NONE NONE
Prior Number of REO Properties 0
xi. Substitution Information
Balance of Balance of Related
Deleted Loan Substitution Loan
NONE NONE
xii. Realized Losses and their Allocation to the Certificates
Principal Interest
Losses Losses
Class A $0.00 $0.00
Class B $0.00 $0.00
Class R $0.00 $0.00
Total $0.00 $0.00
xiii. Interest due, but unpaid, to the Certificates
Beginning Distribution Current Remaining
Interest of Interest Period Interest Interest
Shortfalls Shortfalls Shortfalls Shortfalls
Class A $0.00 $0.00 $0.00 $0.00
Class B $0.00 $0.00 $0.00 $0.00
Class R $0.00 $0.00 $0.00 $0.00
xiv. Certificate Pass-Through Rates: See Above
xv. Substitution Information since the end of the preceding Due Period
Aggregate
Principal
Number Balance
Deleted Mortgage Loans 0 $0.00
Qualifying Substitute Mortgage 0 $0.00
xvi. Shortfalls in deposits to the Certificate $0.00
Additional Information
A. Unadvanced Prepayment Interest Shortfall and Unpaid Trust Fund Taxes
allocated to the Certificates
Unadvanced Unpaid Taxes
Prepayment Allocated
Interest to the
Shortfall Certificates
Class A $0.00 $0.00
Class B $0.00 $0.00
Class R $0.00 $0.00
Total $0.00 $0.00
B. Beginning and Ending Certificate Factors
Beginning Ending
Certificate Certificate
Factor Factor
Class A 0.81052629 0.80402546
Class B 1.00000000 1.00000000
Class R 1.00000000 1.00000000
C. Insured Payment Amount $0.00
Net Insured Payment Amount $0.00
D. Amount by which the Certificate Insurer is Subrogated to Class A
Current Period $0.00
Cumulative $0.00
E. Reimbursement of Subrogated Amounts to Certificate Insurer $0.00
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 CORP. MORTGAGE
PASS-THROUGH CERTIFICATE SERIES 1995-1
By
Name: Barbara Grosse
Title: Assistant Vice President
Dated: August 30, 1996
