SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Sec. 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported) : November 27, 2000
STRUCTURED ASSET SECURITIES CORPORATION (as Depositor under
the Trust Agreement, dated as of April 1, 2000, providing for
the issuance of Aurora Loan Services Mortgage Pass-Through
Certificates, Series 2000-2)
STRUCTURED ASSET SECURITIES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 333-31252-01 74-2440850
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
200 Vesey Street
New York, NY 10285
(Address of principal executive offices)
Registrant's telephone number, including area code : (212) 526-5594
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
This report and the attached exhibit is being filed with respect to the
Registrant's Aurora Loan Services Mortgage Pass-Through Certificates, Series
2000-2 (the "Certificates") pursuant to "no-action" positions taken by the
Securities and Exchange Commission with respect to alternative means of
satisfying the Registrant's reporting obligations under the Securities Exchange
Act of 1934, as amended. The Certificates were issued, and this report and
exhibits are being filed, pursuant to the terms of the Trust Agreement, dated as
of April 1, 2000 among Structured Asset Securities Corporation, as depositor,
Aurora Loan Services Inc., as master servicer, and The Chase Manhattan Bank, as
trustee. On November 27, 2000 distributions were made to the Certificateholders.
Specific information with respect to the distributions are filed as
Exhibits 99.1. No other reportable transactions or matters have
occurred during the current reporting period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on November 27, 2000 is filed
as Exhibit 99.1 hereto.
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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.
THE CHASE MANHATTAN BANK,
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: November 30, 2000 By: /s/ Kimberly Costa
Vice President
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INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
November 27, 2000
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Exhibit 99.1
Monthly Certificateholder Statement on November 27, 2000
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<S> <C> <C> <C> <C> <C> <C>
STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
STATEMENT TO CERTIFICATEHOLDERS
November 27, 2000
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DISTRIBUTION IN DOLLARS
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Original Prior Current
Face Principal Realized Deferred Principal
Class Value Balance Principal Interest Total Losses Interest Balance
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IA1 48,844,000.00 38,756,545.98 2,475,756.79 242,228.41 2,717,985.20 0.00 0.00 36,280,789.19
IA2 1,000,000.00 793,476.10 50,687.02 4,959.23 55,646.25 0.00 0.00 742,789.08
IAP 721,738.00 639,275.46 85,603.28 0.00 85,603.28 0.00 0.00 553,672.18
IIA1 165,599,000.00 137,254,361.86 3,094,624.79 837,108.63 3,931,733.42 0.00 0.00 134,159,737.07
IIA2 1,000,000.00 828,835.70 18,687.46 5,055.03 23,742.49 0.00 0.00 810,148.24
IIAP 18,766,848.00 16,698,633.43 202,869.43 0.00 202,869.43 0.00 0.00 16,495,764.00
B1 8,402,000.00 8,373,005.02 5,074.02 61,205.60 66,279.62 0.00 0.00 8,367,931.00
B2 6,463,000.00 6,440,696.48 3,903.04 47,080.67 50,983.71 0.00 0.00 6,436,793.44
B3 3,101,000.00 3,090,298.59 1,872.71 22,589.69 24,462.40 0.00 0.00 3,088,425.88
B4 2,068,000.00 2,060,863.40 1,248.88 15,064.65 16,313.53 0.00 0.00 2,059,614.52
B5 1,033,000.00 1,029,435.19 623.83 7,525.04 8,148.87 0.00 0.00 1,028,811.36
B6 1,557,932.10 1,553,364.61 348.57 11,354.90 11,703.47 0.00 0.00 1,553,016.04
R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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TOTALS 258,556,618.10 217,518,791.82 5,941,299.82 1,254,171.85 7,195,471.67 0.00 0.00 211,577,492.00
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IAX 49,844,000.00 39,550,022.07 0.00 12,619.95 12,619.95 0.00 0.00 37,023,578.26
IIAX1 166,599,000.00 138,083,197.55 0.00 195,080.50 195,080.50 0.00 0.00 134,969,885.30
IIAX2 166,599,000.00 138,083,197.55 0.00 1,620.19 1,620.19 0.00 0.00 134,969,885.30
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Factor Information Per $1,000 of Original Face Pass-through Rates
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Prior Current Current
Principal Principal Class Pass-thru
Class cusip Factor Principal Interest Total Factor Rate (%)
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IA1 863572n41 793.47608673 50.68701970 4.95922549 55.64624519 742.78906703 IA1 7.500000%
IA2 793.47610000 50.68702000 4.95923000 55.64625000 742.78908000 IA2 7.500000%
IAP 863572n66 885.74449454 118.60713999 0.00000000 18.60713999 767.13735455 IAP 0.000000%
IIA1 863572n74 828.83569261 18.68746061 5.05503433 23.74249494 810.14823199 IIA1 7.318750%
IIA2 828.83570000 18.68746000 5.05503000 23.74249000 810.14824000 IIA2 7.318750%
IIAP 863572p23 889.79424941 10.80998951 0.00000000 10.80998951 878.98425990 IIAP 0.000000%
B1 863572p31 996.54903832 0.60390621 7.28464651 7.88855273 995.94513211 B1 8.771848%
B2 863572p49 996.54904533 0.60390531 7.28464645 7.88855176 995.94514003 B2 8.771848%
B3 863572p56 996.54904547 0.60390519 7.28464689 7.88855208 995.94514028 B3 8.771848%
B4 996.54903288 0.60390716 7.28464700 7.88855416 995.94512573 B4 8.771848%
B5 996.54907067 0.60390126 7.28464666 7.88854792 995.94516941 B5 8.771848%
B6 997.06823552 0.22373889 7.28844344 7.51218233 996.84449662 B6 8.771848%
R 863572p64 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 7.500000%
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TOTALS 841.28108350 22.97871880 4.85066621 27.82938500 818.30236470
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IAX 863572n58 793.47608679 0.00000000 0.25318895 0.25318895 742.78906709 IAX 0.382906%
IIAX1 863572n82 828.83569259 0.00000000 1.17095841 1.17095841 810.14823198 IIAX1 1.685330%
IIAX2 863572n90 828.83569259 0.00000000 0.00972509 0.00972509 810.14823198 IIAX2 0.014080%
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STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
November 27, 2000
Sec. 4.03(i) Unscheduled Principal Amounts 5,809,597.76
Group 1 Unscheduled Principal 2,586,323.76
Group 2 Unscheduled Principal 3,223,274.00
Sec. 4.03(iv) Aggregate Advances 0.00
Group 1 Advances 0.00
Group 2 Advances 0.00
Sec. 4.03(v) Ending Principal Balance 211,577,492.00
Group 1 Principal Balance 42,403,171.97
Group 2 Principal Balance 169,174,320.03
Sec. 4.03(vii) Current Period Realized Losses 0.00
Group 1 Current Period Realized Losses 0.00
Group 2 Current Period Realized Losses 0.00
Bankruptcy Losses 0.00
Fraud Losses 0.00
Special Hazard Losses 0.00
Bankruptcy Loss Amount 257,885.00
Fraud Loss Amount 5,171,132.00
Special Hazard Loss Amount 7,942,497.98
Servicing Fees (includes Retaind Interest) 45,316.42
Sub-Servicing Fees 3,625.32
Trustee Fees 1,540.76
Sec. 4.03(ix) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency
Group 1
Category Number Principal Balance Percentage
1 month 1 271,037.75 0.64%
2 Months 0 0.00 0.00%
3+ Months 1 1,978,903.60 4.67%
Total 2 2,249,941.35 5.31%
Group 2
Category Number Principal Balance Percentage
1 month 5 2,146,580.61 1.27%
2 Months 3 933,705.88 0.55%
3+ Months 1 459,999.99 0.27%
Total 9 3,540,286.48 2.09%
Group Totals
Category Number Principal Balance Percentage
1 Month 6 2,417,618.36 1.14%
2 Months 3 933,705.88 0.44%
3+ Months 2 2,438,903.59 1.15%
Total 11 5,790,227.83 2.73%
Number and Aggregage Principal Amounts of Mortgage Loans in Foreclosure
Group 1
Number Principal Balance Percentage
0 0.00 0.00%
Group 2
Number Principal Balance Percentage
0 0.00 0.00%
Group Totals
Number Principal Balance Percentage
0 0.00 0.00%
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STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
November 27, 2000
Sec. 4.03(x) Number and Aggregage Principal Amounts of REO Loan
Group 1
Number Principal Balance Percentage
0 0.00 0.00%
Group 2
Number Principal Balance Percentage
0 0.00 0.00%
Group Totals
Number Principal Balance Percentage
0 0.00 0.00%
Sec.4.03(viii) Aggregate Outstanding Interest Shortfalls
Class ia1 shortfall 0.00
Class ia2 shortfall 0.00
Class iax shortfall 0.00
Class iia1 shortfall 0.00
Class iia2 shortfal 0.00
Class iiax1 shortfall 2.11
Class iiax2 shortfall 0.00
Class b1 shortfall 0.00
Class b2 shortfall 0.00
Class b3 shortfall 0.00
Class b4 shortfall 0.00
Class b5 shortfall 0.00
Class b6 shortfall 0.00
Class r shortfall 0.00
Sec.4.03(viv) Aggregate Outstanding Prepayment Interest Shortfalls
Class ia1 shortfall 0.00
Class ia2 shortfall 0.00
Class iax shortfall 0.00
Class iia1 shortfall 0.00
Class iia2 shortfal 0.00
Class iiax1 shortfall 0.00
Class iiax2 shortfall 0.00
Class b1 shortfall 0.00
Class b2 shortfall 0.00
Class b3 shortfall 0.00
Class b4 shortfall 0.00
Class b5 shortfall 0.00
Class b6 shortfall 0.00
Class r shortfall 0.00
If there are any questions or comments, please contact the Relationship Manager
listed below.
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Karen Dobres
THE CHASE MANHATTAN BANK - Structured Finance Services
450 WEST 33RD STREET, 14th Floor
NEW YORK, NEW YORK 10001
(212) 946-3232
email:[email protected]
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