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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: 8/25/00
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
August 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: 8/25/00
Beginning
Class Balance
1-A1 46,357,600.00
1-A2 67,927,780.19
1-A3* 67,927,780.19
1-A4 5,524,000.00
1-A5* 7,824,959.56
1-A6* 3,833,333.33
1-A7 30,000,000.00
1-AP** 7,049,334.51
2-A1 84,616,500.00
2-A2 69,931,522.03
2-A3 40,000,000.00
2-A4** 1,500,000.00
2-A5** 4,054,993.98
2-AP** 241,089.49
3-A 37,957,035.08
3-AP** 1,123,507.10
AX* 2,955,569.48
B1 12,555,347.48
B1X* 121,263.29
B2 5,562,697.12
B2X* 53,726.55
B3 3,019,011.16
B4 1,907,267.26
B5 795,523.37
B6 1,591,741.95
R 0.00
TOTAL: 421,714,950.72
Class Principal
1-A1 715,400.00
1-A2 1,609,052.57
1-A3* N/A
1-A4 -
1-A5* N/A
1-A6* N/A
1-A7 -
1-AP** 98,258.24
2-A1 965,250.00
2-A2 155,545.73
2-A3 -
2-A4** -
2-A5** 35,288.03
2-AP** 302.72
3-A 315,750.09
3-AP** 9,245.53
AX* N/A
B1 12,203.40
B1X* N/A
B2 5,406.77
B2X* N/A
B3 2,934.38
B4 1,853.80
B5 773.22
B6 1,547.12
R 0.00
TOTAL: 3,928,811.60
Class
Accrued
Class Interest
1-A1 293,598.13
1-A2 417,189.78
1-A3* 92,268.57
1-A4 36,826.67
1-A5* 58,687.20
1-A6* 28,750.00
1-A7 196,250.00
1-AP** N/A
2-A1 528,853.13
2-A2 437,072.01
2-A3 258,333.33
2-A4** N/A
2-A5** N/A
2-AP** N/A
3-A 229,323.75
3-AP** N/A
AX* 19,703.79
B1 86,318.01
B1X* 833.69
B2 38,243.54
B2X* 369.37
B3 20,956.17
B4 13,239.11
B5 5,522.05
B6 11,048.92
R 41.25
TOTAL: 2,773,428.47
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 45,642,200.00
1-A2 0.00 66,318,727.62
1-A3* 0.00 66,318,727.62
1-A4 0.00 5,524,000.00
1-A5* 0.00 7,713,675.55
1-A6* 0.00 3,833,333.33
1-A7 0.00 30,000,000.00
1-AP** N/A 6,951,076.27
2-A1 0.00 83,651,250.00
2-A2 0.00 69,775,976.30
2-A3 0.00 40,000,000.00
2-A4** N/A 1,500,000.00
2-A5** N/A 4,019,705.95
2-AP** N/A 240,786.77
3-A 0.00 37,641,284.99
3-AP** N/A 1,114,261.57
AX* 0.00 2,903,252.63
B1 0.00 12,543,144.08
B1X* 0.00 121,743.56
B2 0.00 5,557,290.35
B2X* 0.00 53,939.11
B3 0.00 3,016,076.78
B4 0.00 1,905,413.46
B5 0.00 794,750.15
B6 0.00 1,590,194.83
R 0.00 0.00
TOTAL: $0.00 $417,786,139.12
AMOUNTS PER $1,000 UNIT
Beginning Principal Interest
Class Balance Distribution Distribution
1-A1 915.253702 14.124383 5.796607
1-A2 898.515611 21.283764 5.518383
1-A3 898.515611 N/A 1.220484
1-A4 1000.000000 0.000000 6.666667
1-A5 921.378392 N/A 6.910338
1-A6 1000.000000 N/A 7.500000
1-A7 1000.000000 0.000000 6.541667
1-AP 960.498726 13.388060 N/A
2-A1 935.940404 10.676599 5.849628
2-A2 863.352124 1.920318 5.395951
2-A3 1000.000000 0.000000 6.458333
2-A4 1000.000000 0.000000 N/A
2-A5 907.646848 7.898672 N/A
2-AP 969.254634 1.217028 N/A
3-A 943.949892 7.852359 5.703031
3-AP 963.440184 7.928312 N/A
AX 913.682873 N/A 6.091217
B1 994.404204 0.966529 6.836529
B1X 1023.644396 N/A 7.037596
B2 994.404205 0.966530 6.836528
B2X 1023.651234 N/A 7.037602
B3 994.404203 0.966528 6.902559
B4 994.404202 0.966528 6.902560
B5 994.404213 0.966525 6.902563
B6 994.404214 0.966528 6.902559
R 0.000000 0.000000 412.473599
AMOUNTS PER $1,000 UNIT
Realized Loss Current Period
of Principal Remaining Pass-Through
Class Allocated Balance Rate
1-A1 0.00000 901.12932 7.600%
1-A2 0.00000 877.23185 7.370%
1-A3 N/A 877.23185 1.630%
1-A4 0.00000 1000.00000 8.000%
1-A5 N/A 908.27485 9.000%
1-A6 N/A 1000.00000 9.000%
1-A7 0.00000 1000.00000 7.850%
1-AP 0.00000 947.11067 0.000%
2-A1 0.00000 925.26380 7.500%
2-A2 0.00000 861.43181 7.500%
2-A3 0.00000 1000.00000 7.750%
2-A4 0.00000 1000.00000 0.000%
2-A5 0.00000 899.74818 0.000%
2-AP 0.00000 968.03761 0.000%
3-A 0.00000 936.09753 7.250%
3-AP 0.00000 955.51187 7.000%
AX N/A 897.50967 8.000%
B1 0.00000 993.43767 8.250%
B1X N/A 1027.69857 8.250%
B2 0.00000 993.43767 8.250%
B2X N/A 1027.70119 8.250%
B3 0.00000 993.43767 8.330%
B4 0.00000 993.43767 8.330%
B5 0.00000 993.43769 8.330%
B6 0.00000 993.43769 8.330%
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 171,514,751.15 85,934,045.72
Scheduled Principal 103,745.25 61,460.38
Curtail and Paid in Full 35,051.87 2,749.39
Paid in Full 2,292,725.75 38,707.40
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 169,083,228.28 85,831,128.55
Non-AP Balance 164,465,416.65 85,692,955.69
Group 3 Total
i) Beg Agg Sch'd Prin Bal 42,616,305.92 300,065,102.79
Scheduled Principal 129,161.48 294,367.11
Curtail and Paid in Full 44,136.16 81,937.42
Paid in Full 162,432.93 2,493,866.08
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Realized Loss 0.00 0.00
End Agg Sch'd Prin Bal 42,280,575.35 297,194,932.18
Non-AP Balance 41,492,797.86 291,651,170.19
ii) Aggregate Advances: Group 1
Principal Advances 93,728.05
Interest Advances 1,158,634.70
ii) Aggregate Advances: Group 2
Principal Advances 51,549.16
Interest Advances 483,076.45
ii) Aggregate Advances: Group 3
Principal Advances 109,018.64
Interest Advances 204,959.56
ii) Aggregate Advances: Total
Principal Advances 254,295.85
Interest Advances 1,846,670.71
#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 47,054.24 17,902.92
Master Servicing Fee 2,858.50 1,432.27
Trustee Fee 929.04 465.48
Group 3 Total
iv) Servicing Fee 8,878.45 73,835.61
Master Servicing Fee 710.37 5,001.14
Trustee Fee 230.84 1,625.35
v) Mortgage Loans Outstanding and Delinquency Information:
Outstanding Loans
Count Balance
Group 1 1,091 $169,083,228.28
Group 2 226 $85,831,128.55
Group 3 214 $42,280,575.35
Total 1,531 $297,194,932.18
31-60 Days Delinquent
Count Balance
Group 1 23 $3,659,462.33
Group 2 8 $2,595,313.85
Group 3 4 $1,152,455.23
Total 35 $7,407,231.41
61-90 Days Delinquent
Count Balance
Group 1 8 $1,748,991.04
Group 2 4 $2,072,078.36
Group 3 0 $0.00
Total 12 $3,821,069.40
91 Days+ Delinquent
Count Balance
Group 1 12 $2,582,289.75
Group 2 0 $0.00
Group 3 0 $0.00
Total 12 $2,582,289.75
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 7 $1,410,423.89
Group 2 2 $770,419.92
Group 3 1 $107,442.07
Total 10 $2,288,285.88
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: 8/31/2000
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