SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
(Mark One)
[ x ] Annual Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended DECEMBER 31, 1999
_______________________________ or
[ ] Transition Report Pursuant to Section 13 or 15d of the Securities
Exchange Act of 1934
For the transition period from _____________ to ________
Commission file Number 333-68513-02
Structured Asset Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 74-2440850
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
200 Vesey Street
New York, New York 10285
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 526-5594
Securities registered pursuant to Section 12(b) of the Act
NONE
Securities registered pursuant to Section 12(g) of the Act
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
X Yes No
PART I
Item 2. Properties
Not applicable on reliance of Relief Letters
Item 3. Legal Proceedings
There were no legal proceedings.
Item 4. Submission of Matters to a Vote of Security Holders
There were no matters submitted to a vote of the Security Holders.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder matters
There were 45 participants in the DTC system holding
positions in the Cede certificates.
The following were Noteholders and Certificateholders of record
as of the end of the reporting year.
Structured Asset Securities Corporation,
Mortgage Pass-Through Certificates
Series 1999-1 Cl1-A1 Cede & Co.
Series 1999-1 ClAP Cede & Co.
Series 1999-1 ClAX Cede & Co.
Series 1999-1 Cl2-A1 Cede & Co.
Series 1999-1 Cl2-A2 Cede & Co.
Series 1999-1 Cl2-A3 Cede & Co.
Series 1999-1 Cl2-A4 Cede & Co.
Series 1999-1 Cl2-A5 Cede & Co.
Series 1999-1 Cl2-A6 Cede & Co.
Series 1999-1 Cl2-A7 Cede & Co.
Series 1999-1 Cl2-A8 Cede & Co.
Series 1999-1 Cl1-B1 Cede & Co.
Series 1999-1 Cl2-B1 Cede & Co.
Series 1999-1 Cl1-B2 Cede & Co.
Series 1999-1 Cl2-B2 Cede & Co.
Series 1999-1 Cl1-B3 Cede & Co.
Series 1999-1 Cl2-B3 Cede & Co.
Series 1999-1 Cl1-B4 TFINN & Co.
Series 1999-1 Cl2-B4 TFINN & Co.
Series 1999-1 Cl1-B5 TFINN & Co.
Series 1999-1 Cl2-B5 TFINN & Co.
Series 1999-1 Cl1-B6 TFINN & Co.
Series 1999-1 Cl2-B6 TFINN & Co.
TFINN & Co.
C/O Chase Manhattan Bank- Dept 6583
P. O. BOX 50000
Outsourcing Services, Newark
There is no established public trading market for the notes.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures: Information required by Item 304 of Reg. S-K.
There were no changes in and/or disagreements with Accountants on
Accounting and Financial Disclosures.
PART IV
Item 12. Security Ownership of Certain Beneficial Owners and Management
The Notes are represented by one or more notes registered in the name of
of Cede & Co., the nominee of The Depository Trust Company. An investor
holding Notes is not entitled to receive a certificate representing such
Note, except in limited circumstances. Accordingly, Cede & Co. is the
sole holder of Notes, which it holds on behalf of brokers, dealers,
banks and other participants in the DTC system. Such participants may
hold Notes for their own accounts or for the accounts of their customers.
The address of Cede & Co. is:
Cede & Co.
c/o The Depository Trust Company
Seven Hanover Square
New York, New York 10004
Item 13. Certain Relationships and Related Transactions.
There has not been, and there is not currently proposed, any transactions
or series or transactions, to which any of the Trust, the Registrant,
knowledge of the Registrant and Servicer, owns of record or beneficially
more than five percent of the Notes.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
(a) 1. Not Applicable
2. Not Applicable
3. Exhibits
99.1 Annual Summary Statement
99.2 Annual Statement as to Compliance.
99.3 Annual Independent Public
Accountant's Servicing Report.
(b) Reports on Form 8-K
The registrant has filed Current Reports on Form 8-K with the Securities and
Exchange Commission dated: March 31, 1999; April 30, 1999; May 31, 1999;
June 30, 1999; July 31, 1999; August 31, 1999; September 30, 1999;
October 31, 1999; November 30, 1999; December 31, 1999.
(c) See (a) 3 above
(d) Not Applicable
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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, Mortgage Pass-Through Certificates
Series 1999-1
/s/ Eve Kaplan
Vice President
U.S. Bank
Date March 28, 2000
EXHIBIT INDEX
Exhibit Number Description
99.1 Annual Summary Statement
99.2 Annual Statement of Compliance
99.3 Report of Independent Accountants
EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year
Amounts for the period ending December 31, 1999
Structured Asset Securities Corporation,
Mortgage Pass-Through Certificates, Series 1999-1
Summary of Aggregate Amounts or End of Year Amounts
Pool Balance 798477821.66
Principal Collections 35458838.40
Realized Loss 0.00
Interest Collections 50542574.48
Servicer Fees 1708423.23
Delinquency Report Number Stated Principal Bal
30-59 days 5 1448708.28
60-89 days 0 0.00
90+ days 0 0.00
Foreclosures 0 0.00
Bankruptcies 0 0.00
REO Properties 0 0.00
Certificate Balance Interest Principal
Class 1-A1 94592439.56 5137117.57 7531560.44
Class AP 1614468.39 0.00 43361.04
Class AX 3926422.14 217602.86 0.00
Class 2-A1 237111923.27 13257502.88 12888076.74
Class 2-A2 1486475.64 0.00 1022514.47
Class 2-A3 21457000.00 1162254.20 0.00
Class 2-A4 132100.00 0.00 0.00
Class 2-A5 21452108.67 0.00 0.00
Class 2-A6 115194841.13 6396064.85 4805158.87
Class 2-A7 116000600.00 6283365.80 0.00
Class 2-A8 161536703.57 9005770.29 7917096.43
Class 1-B1 703883.29 37388.01 25116.71
Class 2-B1 13019764.15 708679.28 114235.85
Class 1-B2 352424.41 18719.63 12575.59
Class 2-B2 6510873.39 354393.61 57126.62
Class 1-B3 252007.60 13385.84 8992.40
Class 2-B3 2893611.35 157502.27 25388.65
Class 1-B4 200833.64 10667.63 7166.36
Class 2-B4 2893611.35 157502.27 25388.65
Class 1-B5 150625.22 8000.73 5374.78
Class 2-B5 1084484.70 59029.62 9515.30
Class 1-B6 202146.10 10737.34 7213.13
Class 2-B6 1808999.20 98465.71 15872.20
EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance
To be supplied upon receipt by the Trustee
EXHIBIT 99.3 -- Report of Independent Auditors
To be supplied upon receipt by the Trustee
