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Previous: STRUCTURED ASSET SEC CORP PASS THR CERT SER 2000-1, 8-K, 2001-01-08 |
Next: STRUCTURED ASSET SEC CORP PASS THR CERT SER 2000-1, 8-K, 2001-01-08 |
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: 6/26/00
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
June 26, 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: 6/26/00
Beginning
Class Balance
1-A1 47,788,400.00
1-A2 71,230,668.46
1-A3* 71,230,668.46
1-A4 5,524,000.00
1-A5* 8,047,528.88
1-A6* 3,833,333.33
1-A7 30,000,000.00
1-AP** 7,187,604.91
2-A1 86,547,000.00
2-A2 72,364,137.05
2-A3 40,000,000.00
2-A4** 1,500,000.00
2-A5** 4,162,057.98
2-AP** 247,541.20
3-A 38,867,445.12
3-AP** 1,151,692.83
AX* 3,010,140.34
B1 12,579,438.67
B1X* 120,304.82
B2 5,573,370.82
B2X* 53,302.53
B3 3,024,804.04
B4 1,910,926.93
B5 797,049.82
B6 1,594,796.18
R 0.00
TOTAL: 432,050,934.01
Class Principal
1-A1 715,400.00
1-A2 2,055,479.80
1-A3* N/A
1-A4 -
1-A5* N/A
1-A6* N/A
1-A7 -
1-AP** 94,095.31
2-A1 965,250.00
2-A2 1,061,106.82
2-A3 -
2-A4** -
2-A5** 50,662.22
2-AP** 3,862.02
3-A 620,428.95
3-AP** 24,036.19
AX* N/A
B1 11,925.16
B1X* N/A
B2 5,283.49
B2X* N/A
B3 2,867.48
B4 1,811.54
B5 755.59
B6 1,511.85
R 0.00
TOTAL: 5,614,476.42
Class
Accrued
Class Interest
1-A1 302,659.87
1-A2 436,881.43
1-A3* 97,348.58
1-A4 36,826.67
1-A5* 60,356.47
1-A6* 28,750.00
1-A7 196,250.00
1-AP** N/A
2-A1 540,918.75
2-A2 452,275.86
2-A3 258,333.33
2-A4** N/A
2-A5** N/A
2-AP** N/A
3-A 234,824.15
3-AP** N/A
AX* 20,067.60
B1 86,483.64
B1X* 827.10
B2 38,316.92
B2X* 366.45
B3 20,994.41
B4 13,263.27
B5 5,532.12
B6 11,069.08
R 41.19
TOTAL: 2,842,386.89
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 47,073,000.00
1-A2 0.00 69,175,188.66
1-A3* 0.00 69,175,188.66
1-A4 0.00 5,524,000.00
1-A5* 0.00 7,936,243.56
1-A6* 0.00 3,833,333.33
1-A7 0.00 30,000,000.00
1-AP** N/A 7,093,509.60
2-A1 0.00 85,581,750.00
2-A2 0.00 71,303,030.23
2-A3 0.00 40,000,000.00
2-A4** N/A 1,500,000.00
2-A5** N/A 4,111,395.76
2-AP** N/A 243,679.18
3-A 0.00 38,247,016.17
3-AP** N/A 1,127,656.64
AX* 0.00 2,986,643.04
B1 0.00 12,567,513.51
B1X* 0.00 120,780.16
B2 0.00 5,568,087.33
B2X* 0.00 53,512.72
B3 0.00 3,021,936.56
B4 0.00 1,909,115.39
B5 0.00 796,294.23
B6 0.00 1,593,284.33
R 0.00 0.00
TOTAL: $0.00 $426,436,457.59
AMOUNTS PER $1,000 UNIT
Beginning Principal Interest
Class Balance Distribution Distribution
1-A1 943.502468 14.124383 5.975516
1-A2 942.204609 27.188886 5.778855
1-A3 942.204609 N/A 1.287680
1-A4 1000.000000 0.000000 6.666667
1-A5 947.585628 N/A 7.106893
1-A6 1000.000000 N/A 7.500000
1-A7 1000.000000 0.000000 6.541667
1-AP 979.338595 12.820845 N/A
2-A1 957.293602 10.676599 5.983085
2-A2 893.384408 13.100084 5.583653
2-A3 1000.000000 0.000000 6.458333
2-A4 1000.000000 0.000000 N/A
2-A5 931.611446 11.339944 N/A
2-AP 995.192513 15.526520 N/A
3-A 966.590793 15.429388 5.839819
3-AP 987.610272 20.611736 N/A
AX 930.552874 N/A 6.203685
B1 996.312266 0.944492 6.849647
B1X 1015.553469 N/A 6.981967
B2 996.312267 0.944492 6.849646
B2X 1015.572387 N/A 6.981967
B3 996.312266 0.944493 6.915155
B4 996.312268 0.944494 6.915156
B5 996.312275 0.944488 6.915150
B6 996.312274 0.944494 6.915153
R 0.000000 0.000000 411.886839
AMOUNTS PER $1,000 UNIT
Realized Loss Current Period
of Principal Remaining Pass-Through
Class Allocated Balance Rate
1-A1 0.00000 929.37808 7.600%
1-A2 0.00000 915.01572 7.360%
1-A3 N/A 915.01572 1.640%
1-A4 0.00000 1000.00000 8.000%
1-A5 N/A 934.48193 9.000%
1-A6 N/A 1000.00000 9.000%
1-A7 0.00000 1000.00000 7.850%
1-AP 0.00000 966.51775 0.000%
2-A1 0.00000 946.61700 7.500%
2-A2 0.00000 880.28432 7.500%
2-A3 0.00000 1000.00000 7.750%
2-A4 0.00000 1000.00000 0.000%
2-A5 0.00000 920.27150 0.000%
2-AP 0.00000 979.66599 0.000%
3-A 0.00000 951.16140 7.250%
3-AP 0.00000 966.99854 7.000%
AX N/A 923.28893 8.000%
B1 0.00000 995.36777 8.250%
B1X N/A 1019.56602 8.250%
B2 0.00000 995.36777 8.250%
B2X N/A 1019.57716 8.250%
B3 0.00000 995.36777 8.329%
B4 0.00000 995.36777 8.329%
B5 0.00000 995.36779 8.329%
B6 0.00000 995.36778 8.329%
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 176,403,987.97 87,208,932.78
Scheduled Principal 103,387.95 61,122.06
Curtail and Paid in Full 120,560.05 4,461.89
Paid in Full 2,649,573.43 500,505.99
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 173,530,466.54 86,642,842.84
Non-AP Balance 169,216,383.06 86,961,391.04
Group 3 Total
i) Beg Agg Sch'd Prin Bal 43,576,245.30 307,189,166.05
Scheduled Principal 128,803.92 293,313.93
Curtail and Paid in Full 147,544.91 272,566.85
Paid in Full 378,649.72 3,528,729.14
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 42,921,246.75 303,094,556.13
Non-AP Balance 42,424,551.51 298,602,325.61
ii) Aggregate Advances: Group 1
Principal Advances 89,823.82
Interest Advances 1,145,419.21
ii) Aggregate Advances: Group 2
Principal Advances 51,343.49
Interest Advances 459,478.39
ii) Aggregate Advances: Group 3
Principal Advances 95,439.69
Interest Advances 184,697.32
ii) Aggregate Advances: Total
Principal Advances 236,607.00
Interest Advances 1,789,594.92
#REF! 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 48,309.70 18,168.56
Master Servicing Fee 2,940.12 1,453.49
Trustee Fee 955.52 472.38
Group 3 Total
iv) Servicing Fee 9,078.44 75,556.70
Master Servicing Fee 726.31 5,119.92
Trustee Fee 236.04 1,663.94
v) Mortgage Loans Outstanding and Delinquency Information:
Outstanding Loans
Count Balance
Group 1 1,114 $173,530,466.54
Group 2 228 $86,642,842.84
Group 3 216 $42,921,246.75
Total 1,558 $303,094,556.13
31-60 Days Delinquent
Count Balance
Group 1 19 $3,959,332.75
Group 2 8 $2,869,980.65
Group 3 1 $205,993.81
Total 28 $7,035,307.21
61-90 Days Delinquent
Count Balance
Group 1 11 $1,694,527.67
Group 2 1 $586,596.31
Group 3 0 $0.00
Total 12 $2,281,123.98
91 Days+ Delinquent
Count Balance
Group 1 4 $1,001,223.72
Group 2 1 $539,217.65
Group 3 0 $0.00
Total 5 $1,540,441.37
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 6 $1,162,999.41
Group 2 1 $94,761.32
Group 3 1 $107,442.07
Total 8 $1,365,202.80
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: 6/30/2000
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