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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: 7/25/00
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
July 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: 7/25/00
Beginning
Class Balance
1-A1 47,073,000.00
1-A2 69,175,188.66
1-A3* 69,175,188.66
1-A4 5,524,000.00
1-A5* 7,936,243.56
1-A6* 3,833,333.33
1-A7 30,000,000.00
1-AP** 7,093,509.60
2-A1 85,581,750.00
2-A2 71,303,030.23
2-A3 40,000,000.00
2-A4** 1,500,000.00
2-A5** 4,111,395.76
2-AP** 243,679.18
3-A 38,247,016.17
3-AP** 1,127,656.64
AX* 2,986,643.04
B1 12,567,513.51
B1X* 120,780.16
B2 5,568,087.33
B2X* 53,512.72
B3 3,021,936.56
B4 1,909,115.39
B5 796,294.23
B6 1,593,284.33
R 0.00
TOTAL: 426,436,457.59
Class Principal
1-A1 715,400.00
1-A2 1,247,408.47
1-A3* N/A
1-A4 -
1-A5* N/A
1-A6* N/A
1-A7 -
1-AP** 44,175.09
2-A1 965,250.00
2-A2 1,371,508.20
2-A3 -
2-A4** -
2-A5** 56,401.78
2-AP** 2,589.69
3-A 289,981.09
3-AP** 4,149.54
AX* N/A
B1 12,166.03
B1X* N/A
B2 5,390.21
B2X* N/A
B3 2,925.40
B4 1,848.13
B5 770.86
B6 1,542.38
R 0.00
TOTAL: 4,721,506.87
Class
Accrued
Class Interest
1-A1 298,129.00
1-A2 426,652.39
1-A3* 92,161.53
1-A4 36,826.67
1-A5* 59,521.83
1-A6* 28,750.00
1-A7 196,250.00
1-AP** N/A
2-A1 534,885.94
2-A2 445,643.94
2-A3 258,333.33
2-A4** N/A
2-A5** N/A
2-AP** N/A
3-A 231,075.72
3-AP** N/A
AX* 19,910.95
B1 86,401.66
B1X* 830.36
B2 38,280.60
B2X* 367.90
B3 20,975.48
B4 13,251.31
B5 5,527.14
B6 11,059.10
R 41.41
TOTAL: 2,804,876.26
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 46,357,600.00
1-A2 0.00 67,927,780.19
1-A3* 0.00 67,927,780.19
1-A4 0.00 5,524,000.00
1-A5* 0.00 7,824,959.56
1-A6* 0.00 3,833,333.33
1-A7 0.00 30,000,000.00
1-AP** N/A 7,049,334.51
2-A1 0.00 84,616,500.00
2-A2 0.00 69,931,522.03
2-A3 0.00 40,000,000.00
2-A4** N/A 1,500,000.00
2-A5** N/A 4,054,993.98
2-AP** N/A 241,089.49
3-A 0.00 37,957,035.08
3-AP** N/A 1,123,507.10
AX* 0.00 2,955,569.48
B1 0.00 12,555,347.48
B1X* 0.00 121,263.29
B2 0.00 5,562,697.12
B2X* 0.00 53,726.55
B3 0.00 3,019,011.16
B4 0.00 1,907,267.26
B5 0.00 795,523.37
B6 0.00 1,591,741.95
R 0.00 0.00
TOTAL: $0.00 $421,714,950.72
AMOUNTS PER $1,000 UNIT
Beginning Principal Interest
Class Balance Distribution Distribution
1-A1 929.378085 14.124383 5.886061
1-A2 915.015723 16.500112 5.643550
1-A3 915.015723 N/A 1.219068
1-A4 1000.000000 0.000000 6.666667
1-A5 934.481933 N/A 7.008615
1-A6 1000.000000 N/A 7.500000
1-A7 1000.000000 0.000000 6.541667
1-AP 966.517750 6.019025 N/A
2-A1 946.617003 10.676599 5.916356
2-A2 880.284324 16.932200 5.501777
2-A3 1000.000000 0.000000 6.458333
2-A4 1000.000000 0.000000 N/A
2-A5 920.271502 12.624654 N/A
2-AP 979.665993 10.411358 N/A
3-A 951.161404 7.211512 5.746600
3-AP 966.998536 3.558352 N/A
AX 923.288934 N/A 6.155258
B1 995.367774 0.963570 6.843154
B1X 1019.566053 N/A 7.009486
B2 995.367774 0.963570 6.843153
B2X 1019.577134 N/A 7.009594
B3 995.367773 0.963570 6.908920
B4 995.367774 0.963571 6.908921
B5 995.367788 0.963575 6.908925
B6 995.367780 0.963566 6.908919
R 0.000000 0.000000 414.078210
AMOUNTS PER $1,000 UNIT
Realized Loss Current Period
of Principal Remaining Pass-Through
Class Allocated Balance Rate
1-A1 0.00000 915.25370 7.600%
1-A2 0.00000 898.51561 7.401%
1-A3 N/A 898.51561 1.599%
1-A4 0.00000 1000.00000 8.000%
1-A5 N/A 921.37839 9.000%
1-A6 N/A 1000.00000 9.000%
1-A7 0.00000 1000.00000 7.850%
1-AP 0.00000 960.49873 0.000%
2-A1 0.00000 935.94040 7.500%
2-A2 0.00000 863.35212 7.500%
2-A3 0.00000 1000.00000 7.750%
2-A4 0.00000 1000.00000 0.000%
2-A5 0.00000 907.64685 0.000%
2-AP 0.00000 969.25463 0.000%
3-A 0.00000 943.94989 7.250%
3-AP 0.00000 963.44018 7.000%
AX N/A 913.68287 8.000%
B1 0.00000 994.40420 8.250%
B1X N/A 1023.64443 8.250%
B2 0.00000 994.40420 8.250%
B2X N/A 1023.65118 8.250%
B3 0.00000 994.40420 8.329%
B4 0.00000 994.40420 8.329%
B5 0.00000 994.40421 8.329%
B6 0.00000 994.40421 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 173,530,466.54 86,642,842.84
Scheduled Principal 103,978.02 61,076.05
Curtail and Paid in Full 37,799.80 4,581.73
Paid in Full 1,873,937.57 643,139.34
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 171,514,751.15 85,934,045.72
Non-AP Balance 166,436,956.94 86,399,163.12
Group 3 Total
i) Beg Agg Sch'd Prin Bal 42,921,246.75 303,094,556.13
Scheduled Principal 130,586.60 295,640.67
Curtail and Paid in Full 174,354.23 216,735.76
Paid in Full 0.00 2,517,076.91
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 42,616,305.92 300,065,102.79
Non-AP Balance 41,793,589.15 294,629,709.22
ii) Aggregate Advances: Group 1
Principal Advances 88,484.47
Interest Advances 1,120,621.44
ii) Aggregate Advances: Group 2
Principal Advances 50,600.57
Interest Advances 452,622.05
ii) Aggregate Advances: Group 3
Principal Advances 94,264.29
Interest Advances 180,731.83
ii) Aggregate Advances: Total
Principal Advances 233,349.33
Interest Advances 1,753,975.32
#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 47,614.16 18,050.62
Master Servicing Fee 2,892.10 1,444.08
Trustee Fee 939.96 469.32
Group 3 Total
iv) Servicing Fee 8,941.96 74,606.74
Master Servicing Fee 715.35 5,051.53
Trustee Fee 232.49 1,641.76
v) Mortgage Loans Outstanding and Delinquency Information:
Outstanding Loans
Count Balance
Group 1 1,103 $171,514,751.15
Group 2 227 $85,934,045.72
Group 3 216 $42,616,305.92
Total 1,546 $300,065,102.79
31-60 Days Delinquent
Count Balance
Group 1 31 $4,830,392.29
Group 2 9 $3,356,016.60
Group 3 1 $331,541.15
Total 41 $8,517,950.04
61-90 Days Delinquent
Count Balance
Group 1 9 $2,215,189.20
Group 2 1 $183,823.61
Group 3 0 $0.00
Total 10 $2,399,012.81
91 Days+ Delinquent
Count Balance
Group 1 14 $2,884,240.31
Group 2 1 $586,596.31
Group 3 0 $0.00
Total 15 $3,470,836.62
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 1 $156,599.99
Group 2 0 $0.00
Group 3 1 $107,442.07
Total 2 $264,042.06
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: 7/31/2000
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