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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: 4/25/00
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
April 25, 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: 4/25/00
Beginning
Class Balance
1-A1 49,219,200.00
1-A2 73,426,870.86
1-A3* 73,426,870.86
1-A4 5,524,000.00
1-A5* 8,270,096.90
1-A6* 3,833,333.33
1-A7 30,000,000.00
1-AP** 7,289,927.01
2-A1 88,477,500.00
2-A2 76,343,160.49
2-A3 40,000,000.00
2-A4** 1,500,000.00
2-A5** 4,299,215.69
2-AP** 248,051.28
3-A 39,908,863.06
3-AP** 1,158,914.44
AX* 3,037,046.06
B1 12,602,933.80
B1X* 119,376.12
B2 5,583,780.43
B2X* 52,891.02
B3 3,030,453.59
B4 1,914,496.04
B5 798,538.50
B6 1,597,774.84
R 0.00
TOTAL: 442,923,680.03
Class Principal
1-A1 715,400.00
1-A2 870,333.22
1-A3* N/A
1-A4 -
1-A5* N/A
1-A6* N/A
1-A7 -
1-AP** 38,106.65
2-A1 965,250.00
2-A2 676,577.54
2-A3 -
2-A4** -
2-A5** 23,974.39
2-AP** 253.60
3-A 201,386.11
3-AP** 3,729.74
AX* N/A
B1 11,702.45
B1X* N/A
B2 5,184.82
B2X* N/A
B3 2,813.93
B4 1,777.70
B5 741.48
B6 1,483.61
R 0.00
TOTAL: 3,518,715.24
Class
Accrued
Class Interest
1-A1 311,721.60
1-A2 420,674.78
1-A3* 130,026.75
1-A4 36,826.67
1-A5* 62,025.73
1-A6* 28,750.00
1-A7 196,250.00
1-AP** N/A
2-A1 552,984.38
2-A2 477,144.75
2-A3 258,333.33
2-A4** N/A
2-A5** N/A
2-AP** N/A
3-A 241,116.05
3-AP** N/A
AX* 20,246.98
B1 86,645.17
B1X* 820.71
B2 38,388.49
B2X* 363.63
B3 21,031.71
B4 13,286.83
B5 5,541.95
B6 11,088.75
R 54.16
TOTAL: 2,913,322.42
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 48,503,800.00
1-A2 0.00 72,556,537.64
1-A3* 0.00 72,556,537.64
1-A4 0.00 5,524,000.00
1-A5* 0.00 8,158,812.89
1-A6* 0.00 3,833,333.33
1-A7 0.00 30,000,000.00
1-AP** N/A 7,251,820.36
2-A1 0.00 87,512,250.00
2-A2 0.00 75,666,582.95
2-A3 0.00 40,000,000.00
2-A4** N/A 1,500,000.00
2-A5** N/A 4,275,241.30
2-AP** N/A 247,797.68
3-A 0.00 39,707,476.95
3-AP** N/A 1,155,184.70
AX* 0.00 3,026,655.57
B1 0.00 12,591,231.35
B1X* 0.00 119,839.82
B2 0.00 5,578,595.61
B2X* 0.00 53,095.59
B3 0.00 3,027,639.66
B4 0.00 1,912,718.34
B5 0.00 797,797.02
B6 0.00 1,596,291.23
R 0.00 0.00
TOTAL: $0.00 $439,404,964.79
AMOUNTS PER $1,000 UNIT
Beginning Principal Interest
Class Balance Distribution Distribution
1-A1 971.751234 14.124383 6.154424
1-A2 971.254906 11.512344 5.564481
1-A3 971.254906 N/A 1.719931
1-A4 1000.000000 0.000000 6.666667
1-A5 973.792711 N/A 7.303446
1-A6 1000.000000 N/A 7.500000
1-A7 1000.000000 0.000000 6.541667
1-AP 993.280372 5.192176 N/A
2-A1 978.646801 10.676599 6.116543
2-A2 942.508154 8.352809 5.890676
2-A3 1000.000000 0.000000 6.458333
2-A4 1000.000000 0.000000 N/A
2-A5 962.312050 5.366291 N/A
2-AP 997.243193 1.019551 N/A
3-A 992.489717 5.008252 5.996292
3-AP 993.803014 3.198361 N/A
AX 938.870491 N/A 6.259139
B1 998.173119 0.926853 6.862440
B1X 1007.713845 N/A 6.928026
B2 998.173119 0.926854 6.862440
B2X 1007.731892 N/A 6.928237
B3 998.173119 0.926854 6.927441
B4 998.173118 0.926851 6.927440
B5 998.173125 0.926850 6.927438
B6 998.173123 0.926851 6.927442
R 0.000000 0.000000 541.627711
AMOUNTS PER $1,000 UNIT
Realized Loss Current Period
of Principal Remaining Pass-Through
Class Allocated Balance Rate
1-A1 0.00000 957.62685 7.600%
1-A2 0.00000 959.74256 6.875%
1-A3 N/A 959.74256 2.125%
1-A4 0.00000 1000.00000 8.000%
1-A5 N/A 960.68917 9.000%
1-A6 N/A 1000.00000 9.000%
1-A7 0.00000 1000.00000 7.850%
1-AP 0.00000 988.08820 0.000%
2-A1 0.00000 967.97020 7.500%
2-A2 0.00000 934.15535 7.500%
2-A3 0.00000 1000.00000 7.750%
2-A4 0.00000 1000.00000 0.000%
2-A5 0.00000 956.94576 0.000%
2-AP 0.00000 996.22364 0.000%
3-A 0.00000 987.48146 7.250%
3-AP 0.00000 990.60465 7.000%
AX N/A 935.65838 8.000%
B1 0.00000 997.24627 8.250%
B1X N/A 1011.62821 8.250%
B2 0.00000 997.24627 8.250%
B2X N/A 1011.62957 8.250%
B3 0.00000 997.24626 8.328%
B4 0.00000 997.24627 8.328%
B5 0.00000 997.24628 8.328%
B6 0.00000 997.24627 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 180,150,208.98 218,127,903.01
Scheduled Principal 103,810.37 780,417.71
Curtail and Paid in Full 41,559.11 4,674.12
Paid in Full 1,486,882.89 885,940.32
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 178,517,956.61 216,456,870.86
Non-AP Balance 172,860,281.98 88,903,351.88
Group 3 Total
i) Beg Agg Sch'd Prin Bal 44,645,568.04 442,923,680.03
Scheduled Principal 128,584.78 1,012,812.86
Curtail and Paid in Full 86,845.94 133,079.17
Paid in Full 0.00 2,372,823.21
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 44,430,137.32 439,404,964.79
Non-AP Balance 43,486,652.65 305,250,286.51
ii) Aggregate Advances: Group 1
Principal Advances 86,207.50
Interest Advances 1,107,126.94
ii) Aggregate Advances: Group 2
Principal Advances 51,811.92
Interest Advances 469,798.03
ii) Aggregate Advances: Group 3
Principal Advances 86,345.23
Interest Advances 179,036.78
ii) Aggregate Advances: Total
Principal Advances 224,364.65
Interest Advances 1,755,961.75
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 49,328.32 18,573.18
Master Servicing Fee 3,002.64 1,485.84
Trustee Fee 975.81 482.90
Group 3 Total
iv) Servicing Fee 9,301.21 77,202.71
Master Servicing Fee 744.16 5,232.64
Trustee Fee 241.83 1,700.55
v) Mortgage Loans Outstanding and Delinquency Information:
Outstanding Loans
Count Balance
Group 1 1,134 $178,517,956.61
Group 2 234 $88,199,603.34
Group 3 221 $44,430,137.32
Total 1,589 $311,147,697.27
31-60 Days Delinquent
Count Balance
Group 1 27 $4,349,400.27
Group 2 5 $1,609,099.68
Group 3 0 $0.00
Total 32 $5,958,499.95
61-90 Days Delinquent
Count Balance
Group 1 11 $2,325,603.68
Group 2 2 $634,480.52
Group 3 1 $107,152.01
Total 14 $3,067,236.21
91 Days+ Delinquent
Count Balance
Group 1 4 $1,057,478.06
Group 2 0 $0.00
Group 3 0 $0.00
Total 4 $1,057,478.06
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: 4/30/2000
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