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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, Earliest Event Reported: 3/27/00
STRUCTURED ASSET SECURITIES CORPORATION (as Depositor under the
Trust Agreement, dated as of January 1, 2000, providing for the
issuance of Structured Asset Securities Corporation, Mortgage
Pass-Through Certificates, Series 2000-1)
Structured Asset Securities Corporation
(Exact name of registrant as specified in its charter)
Delaware 333-68513-09
(State or Other (Commission
Jurisdiction File Number)
of Incorporation)
74-2440850
(I.R.S. Employer
Identification No.)
200 Vesey Street
New York, New York 10285
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number: (212) 526-5594
Item 5. Other Events.
On Behalf of Structured Assets Securities Corporation,
Series 2000-1, Mortgage Pass-Through Certificates, a Trust created
pursuant to the Pooling and Servicing Agreement, dated January 1, 2000
by U.S. Bank National Association, as trustee for the Trust, the Trustee
has caused to be filed with the Commission, the Monthly Report dated
March 27, 2000. The Monthly Report is filed pursuant to and in
accordance with (1) numerous no-action letters (2) current Commission
policy in the area. The filing of the Monthly distribution to the
holders of the Certificates, Due
A. Monthly Report Information:
See Exhibit No. 1
B. Have any deficiencies occurred? NO.
Date:
Amount:
C. Item 1: Legal Proceedings: NONE
D. Item 2: Changes in Securities: NONE
E. Item 4: Submission of Matters to a Vote of Certifi-
catholders: NONE
F. Item 5: Other Information - Form 10-Q, Part II -
Items 1,2,4,5 if applicable: NOT APPLICABLE
Item 7. Monthly Statementsand Exhibits
Information and Exhibits.
Exhibit No. 1
Structured Asset Securities Corporation
Mortgage Pass-Through Certificates, Series 2000-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION SUMMARY
Distribution Date: 3/27/00
Beginning
Class Balance
1-A1 49,934,600.00
1-A2 74,265,280.06
1-A3* 74,265,280.06
1-A4 5,524,000.00
1-A5* 8,381,382.22
1-A6* 3,833,333.33
1-A7 30,000,000.00
1-AP** 7,317,381.61
2-A1 89,442,750.00
2-A2 80,477,342.20
2-A3 40,000,000.00
2-A4** 1,500,000.00
2-A5** 4,421,073.92
2-AP** 248,362.32
3-A 40,045,037.81
3-AP** 1,162,337.35
AX* 3,223,880.04
B1 12,614,514.24
B1X* 118,918.52
B2 5,588,911.19
B2X* 52,735.30
B3 3,033,238.18
B4 1,916,255.21
B5 799,272.25
B6 1,599,242.98
R 0.00
TOTAL: 449,889,599.32
Class Principal
1-A1 715,400.00
1-A2 838,409.20
1-A3* N/A
1-A4 -
1-A5* N/A
1-A6* N/A
1-A7 -
1-AP** 27,454.60
2-A1 965,250.00
2-A2 4,134,181.71
2-A3 -
2-A4** -
2-A5** 121,858.23
2-AP** 311.04
3-A 136,174.75
3-AP** 3,422.91
AX* N/A
B1 11,580.44
B1X* N/A
B2 5,130.76
B2X* N/A
B3 2,784.59
B4 1,759.17
B5 733.75
B6 1,468.14
R 0.00
TOTAL: 6,965,919.29
Class
Accrued
Class Interest
1-A1 316,252.47
1-A2 410,238.31
1-A3* 146,751.29
1-A4 36,826.67
1-A5* 62,860.37
1-A6* 28,750.00
1-A7 196,250.00
1-AP** N/A
2-A1 559,017.19
2-A2 502,983.39
2-A3 258,333.33
2-A4** N/A
2-A5** N/A
2-AP** N/A
3-A 241,938.77
3-AP** N/A
AX* 21,492.53
B1 86,724.79
B1X* 817.56
B2 38,423.76
B2X* 362.56
B3 21,050.10
B4 13,298.45
B5 5,546.80
B6 11,098.44
R 53.67
TOTAL: 2,959,070.45
Realized Loss
of Principal
Class Allocated
1-A1 0.00
1-A2 0.00
1-A3* N/A
1-A4 0.00
1-A5* N/A
1-A6* N/A
1-A7 0.00
1-AP** 0.00
2-A1 0.00
2-A2 0.00
2-A3 0.00
2-A4** 0.00
2-A5** 0.00
2-AP** 0.00
3-A 0.00
3-AP** 0.00
AX* N/A
B1 0.00
B1X* N/A
B2 0.00
B2X* N/A
B3 0.00
B4 0.00
B5 0.00
B6 0.00
R 0.00
TOTAL: $0.00
Net Prepmt Current
Interest Interest
Class Shortfall Amt Shortfall (2)
1-A1 0.00 0.00
1-A2 0.00 0.00
1-A3* 0.00 0.00
1-A4 0.00 0.00
1-A5* 0.00 0.00
1-A6* 0.00 0.00
1-A7 0.00 0.00
1-AP** N/A N/A
2-A1 0.00 0.00
2-A2 0.00 0.00
2-A3 0.00 0.00
2-A4** N/A N/A
2-A5** N/A N/A
2-AP** N/A N/A
3-A 0.00 0.00
3-AP** N/A N/A
AX* 0.00 0.00
B1 0.00 0.00
B1X* 0.00 0.00
B2 0.00 0.00
B2X* 0.00 0.00
B3 0.00 0.00
B4 0.00 0.00
B5 0.00 0.00
B6 0.00 0.00
R 0.00 0.00
TOTAL: $0.00 $0.00
Outstanding
Interest Remaining
Class Shortfall Balance
1-A1 0.00 49,219,200.00
1-A2 0.00 73,426,870.86
1-A3* 0.00 73,426,870.86
1-A4 0.00 5,524,000.00
1-A5* 0.00 8,270,096.90
1-A6* 0.00 3,833,333.33
1-A7 0.00 30,000,000.00
1-AP** N/A 7,289,927.01
2-A1 0.00 88,477,500.00
2-A2 0.00 76,343,160.49
2-A3 0.00 40,000,000.00
2-A4** N/A 1,500,000.00
2-A5** N/A 4,299,215.69
2-AP** N/A 248,051.28
3-A 0.00 39,908,863.06
3-AP** N/A 1,158,914.44
AX* 0.00 3,037,046.06
B1 0.00 12,602,933.80
B1X* 0.00 119,376.12
B2 0.00 5,583,780.43
B2X* 0.00 52,891.02
B3 0.00 3,030,453.59
B4 0.00 1,914,496.04
B5 0.00 798,538.50
B6 0.00 1,597,774.84
R 0.00 0.00
TOTAL: $0.00 $442,923,680.03
AMOUNTS PER $1,000 UNIT
Beginning Principal Interest
Class Balance Distribution Distribution
1-A1 985.875617 14.124383 6.243879
1-A2 982.344974 11.090069 5.426433
1-A3 982.344974 N/A 1.941155
1-A4 1000.000000 0.000000 6.666667
1-A5 986.896407 N/A 7.401723
1-A6 1000.000000 N/A 7.500000
1-A7 1000.000000 0.000000 6.541667
1-AP 997.021166 3.740794 N/A
2-A1 989.323401 10.676599 6.183271
2-A2 993.547435 51.039280 6.209671
2-A3 1000.000000 0.000000 6.458333
2-A4 1000.000000 0.000000 N/A
2-A5 989.588105 27.276055 N/A
2-AP 998.493670 1.250477 N/A
3-A 995.876233 3.386517 6.016752
3-AP 996.738259 2.935245 N/A
AX 996.628229 N/A 6.644187
B1 999.090309 0.917190 6.868746
B1X 1003.851014 N/A 6.901435
B2 999.090309 0.917190 6.868745
B2X 1004.764961 N/A 6.907851
B3 999.090310 0.917190 6.933498
B4 999.090308 0.917190 6.933498
B5 999.090313 0.917188 6.933500
B6 999.090310 0.917187 6.933495
R 0.000000 0.000000 536.726702
AMOUNTS PER $1,000 UNIT
Realized Loss Current Period
of Principal Remaining Pass-Through
Class Allocated Balance Rate
1-A1 0.00000 971.75123 7.600%
1-A2 0.00000 971.25491 6.629%
1-A3 N/A 971.25491 2.371%
1-A4 0.00000 1000.00000 8.000%
1-A5 N/A 973.79271 9.000%
1-A6 N/A 1000.00000 9.000%
1-A7 0.00000 1000.00000 7.850%
1-AP 0.00000 993.28037 0.000%
2-A1 0.00000 978.64680 7.500%
2-A2 0.00000 942.50815 7.500%
2-A3 0.00000 1000.00000 7.750%
2-A4 0.00000 1000.00000 0.000%
2-A5 0.00000 962.31205 0.000%
2-AP 0.00000 997.24319 0.000%
3-A 0.00000 992.48972 7.250%
3-AP 0.00000 993.80301 7.000%
AX N/A 938.87049 8.000%
B1 0.00000 998.17312 8.250%
B1X N/A 1007.71383 8.250%
B2 0.00000 998.17312 8.250%
B2X N/A 1007.73184 8.250%
B3 0.00000 998.17312 8.328%
B4 0.00000 998.17312 8.328%
B5 0.00000 998.17313 8.328%
B6 0.00000 998.17312 8.328%
R 0.00000 0.00000 9.000%
Reports to Certificateholders
Trust Agreement Dated January 1, 2000
(Pursuant to Section 4.03)
Group 1 Group 2
i) Beg Agg Sch'd Prin Bal 181,739,801.29 223,354,399.12
Scheduled Principal 103,628.70 3,716,950.70
Curtail and Paid in Full 33,508.47 13,648.62
Paid in Full 1,452,455.14 1,495,896.79
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 180,150,208.98 218,127,903.01
Non-AP Balance 174,422,419.69 90,473,790.15
Group 3 Total
i) Beg Agg Sch'd Prin Bal 44,795,398.90 449,889,599.31
Scheduled Principal 127,635.97 3,948,215.37
Curtail and Paid in Full 22,194.89 69,351.98
Paid in Full 0.00 2,948,351.93
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 44,645,568.04 442,923,680.03
Non-AP Balance 43,633,060.60 308,529,270.44
ii) Aggregate Advances: Group 1
Principal Advances 89,285.12
Interest Advances 1,160,998.36
ii) Aggregate Advances: Group 2
Principal Advances 52,560.50
Interest Advances 460,977.63
ii) Aggregate Advances: Group 3
Principal Advances 107,622.00
Interest Advances 221,448.41
ii) Aggregate Advances: Total
Principal Advances 249,467.62
Interest Advances 1,843,424.40
iii) Realized Losses Realized Losses
Realized Losses Current Since Cutoff
Group 1 0.00 0.00
Group 2 0.00 0.00
Group 3 0.00 0.00
Total 0.00 0.00
Group 1 Group 2
iv) Servicing Fee 49,672.92 18,900.50
Master Servicing Fee 3,029.04 1,512.12
Trustee Fee 984.42 491.41
Group 3 Total
iv) Servicing Fee 9,332.34 77,905.76
Master Servicing Fee 746.57 5,287.73
Trustee Fee 242.64 1,718.48
v) Mortgage Loans Outstanding and Delinquency Information:
Outstanding Loans
Count Balance
Group 1 1,145 $180,150,208.98
Group 2 236 $89,151,403.70
Group 3 221 $44,645,568.04
Total 1,602 $313,947,180.72
31-60 Days Delinquent
Count Balance
Group 1 58 $10,037,060.37
Group 2 3 $694,160.61
Group 3 6 $727,955.92
Total 67 $11,459,176.90
61-90 Days Delinquent
Count Balance
Group 1 1 $196,727.69
Group 2 0 $0.00
Group 3 0 $0.00
Total 1 $196,727.69
91 Days+ Delinquent
Count Balance
Group 1 2 $270,948.77
Group 2 0 $0.00
Group 3 0 $0.00
Total 2 $270,948.77
vi) Delinquency Information for Mortgage Loans in Foreclosure Proceedings
31-60 Days Delinquent
Count Balance
Group 1 0 $0.00
Group 2 0 $0.00
Group 3 0 $0.00
Total 0 $0.00
61-90 Days Delinquent
Count Balance
Group 1 0 $0.00
Group 2 0 $0.00
Group 3 0 $0.00
Total 0 $0.00
91 Days+ Delinquent
Count Balance
Group 1 0 $0.00
Group 2 0 $0.00
Group 3 0 $0.00
Total 0 $0.00
vii) Mortgage Loans becoming REO Prop during preceding month:
Group Loan No.
Prin Bal Deemed Prin Bal
viii) Deleted and Qualifying Substitute Mortgage Loans
Group Loan No. Prin Bal
Senior Certs
Group 1 Group 2
ix) Accrued and Unpaid Prin 0.00 0.00
Accrued and Unpaid Int 0.00 0.00
Senior Certs
Group 3
ix) Accrued and Unpaid Prin 0.00
Accrued and Unpaid Int 0.00
Subordinate
Certificates Total
ix) Accrued and Unpaid Prin 0.00 0.00
Accrued and Unpaid Int 0.00 0.00
x) Purchased Mortgage Loans
Group Loan Number Principal Balance
xi) Class 2-A3 Guar Distribs paid 0.00
xii) Class 2-A3 Cert Insur Prem 1,000.00
xii) Withdrawals from Class 2-A3 Res Fund 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 hereunto duly authorized.
STRUCTURED ASSET SECURITIES CORPORATION
By: /s/ Eve Kaplan
Name: Eve Kaplan
Title: Vice President
Dated: 3/31/2000
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