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) : July 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 July 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 July 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: August 3, 2000 By: /s/ Kimberly Costa
Vice President
-3-
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
July 25, 200
-4-
Exhibit 99.1
Monthly Certificateholder Statement on July 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
July 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 44,812,764.16 3,227,306.67 280,079.78 3,507,386.45 0.00 0.00 41,585,457.49
IA2 1,000,000.00 917,467.13 66,073.76 5,734.17 71,807.93 0.00 0.00 851,393.37
IAP 721,738.00 684,153.77 18,714.03 0.00 18,714.03 0.00 0.00 665,439.74
IIA1 165,599,000.00 159,474,195.56 6,264,508.06 975,616.62 7,240,124.68 0.00 0.00 153,209,687.50
IIA2 1,000,000.00 963,014.24 37,829.38 5,891.44 43,720.82 0.00 0.00 925,184.86
IIAP 18,766,848.00 18,246,423.51 369,464.49 0.00 369,464.49 0.00 0.00 17,876,959.02
B1 8,402,000.00 8,392,637.25 4,792.98 61,371.90 66,164.88 0.00 0.00 8,387,844.27
B2 6,463,000.00 6,455,798.01 3,686.86 47,208.59 50,895.45 0.00 0.00 6,452,111.15
B3 3,101,000.00 3,097,544.43 1,768.99 22,651.07 24,420.06 0.00 0.00 3,095,775.44
B4 2,068,000.00 2,065,695.52 1,179.70 15,105.58 16,285.28 0.00 0.00 2,064,515.82
B5 1,033,000.00 1,031,848.91 589.28 7,545.49 8,134.77 0.00 0.00 1,031,259.63
B6 1,557,932.10 1,556,915.49 857.79 11,385.08 12,242.87 0.00 0.00 1,556,057.70
R 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-----------------------------------------------------------------------------------------------------------------------------------
TOTALS 258,556,618.10 247,698,457.98 9,996,771.99 1,432,589.72 11,429,361.71 0.00 0.00 237,701,685.99
-----------------------------------------------------------------------------------------------------------------------------------
IAX 49,844,000.00 45,730,231.28 0.00 14,823.81 14,823.81 0.00 0.00 42,436,850.85
IIAX1 166,599,000.00 160,437,209.80 0.00 224,017.20 224,017.20 0.00 0.00 154,134,872.36
IIAX2 166,599,000.00 160,437,209.80 0.00 2,246.18 2,246.18 0.00 0.00 154,134,872.36
-----------------------------------------------------------------------------------------------------------------------------------
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 917.46712309 66.07375870 5.73416960 71.80792830 851.39336438 IA1 7.500000%
IA2 917.46713000 66.07376000 5.73417000 71.80793000 851.39337000 IA2 7.500000%
IAP 863572n66 947.92538290 25.92911832 0.00000000 25.92911832 921.99626457 IAP 0.000000%
IIA1 863572n74 963.01424260 37.82938339 5.89144029 43.72082368 925.18485921 IIA1 7.341250%
IIA2 963.01424000 37.82938000 5.89144000 43.72082000 925.18486000 IIA2 7.341250%
IIAP 863572p23 972.26894522 19.68708277 0.00000000 19.68708277 952.58186244 IIAP 0.000000%
B1 863572p31 998.88565223 0.57045703 7.30443942 7.87489645 998.31519519 B1 8.755105%
B2 863572p49 998.88565836 0.57045644 7.30443911 7.87489556 998.31520192 B2 8.755105%
B3 863572p56 998.88565946 0.57045792 7.30444050 7.87489842 998.31520155 B3 8.755105%
B4 998.88564797 0.57045455 7.30443907 7.87489362 998.31519342 B4 8.755105%
B5 998.88568248 0.57045499 7.30444337 7.87489835 998.31522749 B5 8.755105%
B6 999.34746193 0.55059524 7.30781528 7.85841052 998.79686669 B6 8.755105%
R 863572p64 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 7.500000%
----------------------------------------------------------------------------------------------------------------------------------
TOTALS 958.00471015 38.66376372 5.54071959 44.20448331 919.34094643
----------------------------------------------------------------------------------------------------------------------------------
IAX 863572n58 917.46712302 0.00000000 0.29740410 0.29740410 851.39336430 IAX 0.388989%
IIAX1 863572n82 963.01424258 0.00000000 1.34464913 1.34464913 925.18485921 IIAX1 1.675550%
IIAX2 863572n90 963.01424258 0.00000000 0.01348255 0.01348255 925.18485921 IIAX2 0.016800%
----------------------------------------------------------------------------------------------------------------------------------
-6-
<PAGE>
STRUCTURED ASSET SECURITIES CORP.MORTGAGE PASS-THROUGH CERTIFICATES 2000-ALS2
July 25, 2000
Sec. 4.03(i) Unscheduled Principal Amounts 9,854,660.30
Group 1 Unscheduled Principal 3,282,933.74
Group 2 Unscheduled Principal 6,571,726.56
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 237,700,976.09
Group 1 Principal Balance 47,942,490.64
Group 2 Principal Balance 189,758,485.45
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 7,962,224.82
Servicing Fees (includes Retaind Interest) 51,603.70
Master Servicing Fees 4,128.29
Trustee Fees 1,754.52
Sec. 4.03(ix) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency
Group 1
Category Number Principal Balance Percentage
1 month 1 242,079.20 0.5%
2 Months 0 0.00 0.00%
3+ Months 0 0.00 0.00%
Total 1 242,079.20 0.5%
Group 2
Category Number Principal Balance Percentage
1 month 7 1,569,478.15 0.83%
2 Months 0 0.00 0.00%
3+ Months 0 0.00 0.00%
Total 7 1,569,478.15 0.83%
Group Totals
Category Number Principal Balance Percentage
1 Month 8 1,811,557.35 0.76%
2 Months 0 0.00 0.00%
3+ Months 0 0.00 0.00%
Total 8 1,811,557.35 0.76%
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
July 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>
