SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[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
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number 333-68513-7
STRUCTURED ASSET SECURITIES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 74-2440850
(State or other jurisdiction of I.R.S. Employer
incorporation or organization) Identification No.)
200 Vessey Street
New York, NY 10285
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code : (212) 526-5594
OCWEN HOME EQUITY LOAN TRUST SERIES 1999-OFS1
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES SERIES 1999-OFS1
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
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 Exchange 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. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
Documents incorporated by reference: None
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OCWEN HOME EQUITY LOAN TRUST SERIES 1999-OFS1
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES SERIES 1999-OFS1
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PART I
Item 1. Business
Omitted.
Item 2. Properties
Omitted.
Item 3. Legal Proceedings
The Registrant is not aware of any material legal proceeding with respect
to a Pool, the Trustee, the Servicer or, Structured Asset Securities Corporation
with respect to a Pool, other than ordinary routine litigation incidental to the
duties of the Trustee or Servicer under the related Pooling and Servicing
Agreement.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote or consent of holders of each Class of
Offered Certificates during the fiscal year covered by this report.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Trust does not issue stock. There is currently no established secondary
market for the Certificates. As of December 31, 1999, the number of holders of
each Class of Offered Certificates was 2.
Item 6. Selected Financial Data
Omitted.
Item 7. Management's Discussion and Analysis of Financial condition and
Results of Operations
Omitted.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
There was no change of accountants or disagreement with accountants on any
matter of accounting principles or practices or financial disclosure.
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PART III
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11. Executive Compensation
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Omitted.
Item 13. Certain Relationships and Related Transactions
No reportable transactions have occurred.
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Annual Servicer Statement of Compliance, filed as Exhibit 99.1 hereto.
Annual Statement of Independent Accountants Report for the Servicer,
filed as Exhibit 99.2 hereto.
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were
filed by the Registrant during the last quarter of 1999.
Current Reports on Form 8-K, dated, October 27, 1999, November 26, 1999 and
December 27, 1999, were filed for the purpose of filing the Monthly
Statement sent to the Holders of the Offered Certificates for payments
made on the same dates. The items reported in such Current Report
were Item 5 (Other Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: March 28, 2000 By: /s/ Cynthia Kerpen
-----------------------------------
Cynthia Kerpen
Vice President
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SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.
The registrant has not sent an annual report or proxy material to its security
holders. The registrant will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.
<PAGE>
EXHIBIT INDEX
Exhibit Description
99.1 Annual Statement of Compliance
99.2 Annual Independent Public Accountant's Servicing Report
<PAGE>
EXHIBIT 99.1 - Servicer's Annual Statement of Compliance
To be supplied upon receipt by the Trustee
EXHIBIT 99.2 - Annual Independent Public Accountant's Servicing Report
To be supplied upon receipt by the Trustee
