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) : September 25, 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.)
Page 1 of 4
<PAGE>
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 September 25,2000 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 September 25, 2000 is filed
as Exhibit 99.1 hereto.
-2-
<PAGE>
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: October 11, 2000 By: /s/ Kimberly Costa
Vice President
-3-
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
September 25, 200
-4-
Exhibit 99.1
Monthly Certificateholder Statement on September 25, 2000
-5-
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C>
STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
STATEMENT TO CERTIFICATEHOLDERS
September 25, 2000
-----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION IN DOLLARS
-----------------------------------------------------------------------------------------------------------------------------------
Original Prior Current
Face Principal Realized Deferred Principal
Class Value Balance Principal Interest Total Losses Interest Balance
-----------------------------------------------------------------------------------------------------------------------------------
IA1 48,844,000.00 40,332,344.93 531,494.51 252,077.16 783,571.67 0.00 0.00 39,800,850.42
IA2 1,000,000.00 825,737.97 10,881.47 5,160.86 16,042.33 0.00 0.00 814,856.50
IAP 721,738.00 648,689.00 8,899.36 0.00 8,899.36 0.00 0.00 639,789.64
IIA1 165,599,000.00 149,139,573.07 5,635,589.43 909,751.40 6,545,340.83 0.00 0.00 143,503,983.64
IIA2 1,000,000.00 900,606.73 34,031.54 5,493.70 39,525.24 0.00 0.00 866,575.19
IIAP 18,766,848.00 17,392,016.96 228,837.73 0.00 228,837.73 0.00 0.00 17,163,179.23
B1 8,402,000.00 8,382,983.19 4,996.55 61,289.39 66,285.94 0.00 0.00 8,377,986.64
B2 6,463,000.00 6,448,371.90 3,843.45 47,145.13 50,988.58 0.00 0.00 6,444,528.45
B3 3,101,000.00 3,093,981.32 1,844.12 22,620.62 24,464.74 0.00 0.00 3,092,137.20
B4 2,068,000.00 2,063,319.35 1,229.81 15,085.27 16,315.08 0.00 0.00 2,062,089.54
B5 1,033,000.00 1,030,661.97 614.31 7,535.34 8,149.65 0.00 0.00 1,030,047.66
B6 1,557,932.10 1,555,170.78 888.99 11,369.11 12,258.10 0.00 0.00 1,554,281.79
R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 258,556,618.10 231,813,457.17 6,463,151.27 1,337,527.98 7,800,679.25 0.00 0.00 225,350,305.90
IAX 49,844,000.00 41,158,082.89 0.00 13,159.87 13,159.87 0.00 0.00 40,615,706.91
IIAX1 166,599,000.00 150,040,179.80 0.00 212,062.88 212,062.88 0.00 0.00 144,370,558.82
IIAX2 166,599,000.00 150,040,179.80 0.00 2,006.63 2,006.63 0.00 0.00 144,370,558.82
-----------------------------------------------------------------------------------------------------------------------------------
TOTALS 258,556,618.10 231,813,457.17 6,463,151.27 1,337,527.98 7,800,679.25 0.00 0.00 225,350,305.90
IAX 49,844,000.00 41,158,082.89 0.00 13,159.87 13,159.87 0.00 0.00 40,615,706.91
IIAX1 166,599,000.00 150,040,179.80 0.00 212,062.88 212,062.88 0.00 0.00 144,370,558.82
IIAX2 166,599,000.00 150,040,179.80 0.00 2,006.63 2,006.63 0.00 0.00 144,370,558.82
-----------------------------------------------------------------------------------------------------------------------------------
Factor Information Per $1,000 of Original Face Pass-through Rates
------------------------------------------------------------------------------------ ---------------------------
Prior Current Current
Principal Principal Class Pass-thru
Class cusip Factor Principal Interest Total Factor Rate (%)
----------------------------------------------------------------------------------------------------------------------------------
IA1 863572n41 825.73796024 10.88146978 5.16086234 16.04233212 814.85649046 IA1 7.500000
IA2 825.73797000 10.88147000 5.16086000 16.04233000 814.85650000 IA2 7.500000
IAP 863572n66 898.78737159 12.33045787 0.00000000 12.33045787 886.45691373 IAP 0.000000
IIA1 863572n74 900.60672510 34.03154264 5.49370105 39.52524369 866.57518246 IIA1 7.320000
IIA2 900.60673000 34.03154000 5.49370000 39.52524000 866.57519000 IIA2 7.320000
IIAP 863572p23 926.74150502 12.19372214 0.00000000 12.19372214 914.54778288 IIAP 0.000000
B1 863572p31 997.73663294 0.59468579 7.29461914 7.88930493 997.14194716 B1 8.773401
B2 863572p49 997.73663933 0.59468513 7.29462015 7.88930528 997.14195420 B2 8.773401
B3 863572p56 997.73663979 0.59468559 7.29462109 7.88930668 997.14195421 B3 8.773401
B4 997.73662959 0.59468569 7.29461799 7.88930368 997.14194391 B4 8.773401
B5 997.73666021 0.59468538 7.29461762 7.88930300 997.14197483 B5 8.773401
B6 998.22757359 0.57062179 7.29756451 7.86818630 997.65695180 B6 8.773401
R 863572p64 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 7.500000
----------------------------------------------------------------------------------------------------------------------------------
TOTALS 896.56748635 24.99704443 5.17305645 30.17010088 871.57044192
----------------------------------------------------------------------------------------------------------------------------------
IAX 863572n58 825.73796024 0.00000000 0.26402115 0.26402115 814.85649045 IAX 0.383688
IIAX1 863572n82 900.60672513 0.00000000 1.27289407 1.27289407 866.57518244 IIAX1 1.696049
IIAX2 863572n90 900.60672513 0.00000000 0.01204467 0.01204467 866.57518244 IIAX2 0.016049
----------------------------------------------------------------------------------------------------------------------------------
-6-
<PAGE>
STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
September 25, 2000
Sec. 4.03(i) Unscheduled Principal Amounts 6,324,676.07
Group 1 Unscheduled Principal 525,520.45
Group 2 Unscheduled Principal 5,799,155.62
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 225,350,305.90
Group 1 Principal Balance 46,086,907.39
Group 2 Principal Balance 179,263,398.51
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 7,952,432.96
Servicing Fees (includes Retaind Interest) 48,294.47
Sub-Servicing Fees 3,863.56
Trustee Fees 1,642.02
Sec. 4.03(ix) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency
Group 1
Category Number Principal Balance Percentage
1 month 0 0.00 0.00%
2 Months 0 0.00 0.00%
3+ Months 1 1,981,839.41 4.30%
Total 1 1,981,839.41 4.30%
Group 2
Category Number Principal Balance Percentage
1 month 7 2,069,948.87 1.15%
2 Months 1 424,969.42 0.24%
3+ Months 0 0.00 0.00%
Total 8 2,494,918.29 1.39%
Group Totals
Category Number Principal Balance Percentage
1 Month 7 2,069,948.87 0.92%
2 Months 1 424,969.42 0.19%
3+ Months 1 1,981,839.41 0.88%
Total 9 4,476,757.70 1.99%
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%
-7-
<PAGE>
STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
September 25, 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.
---------------------------------------
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]
---------------------------------------
-8-
</TABLE>
