SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
December 1, 2000
STRUCTURED ASSET SECURITIES CORPORATION (as Depositor under the Trust
Agreement, dated as of August 1, 2000, providing for the issuance of
Amortizing Residential Collateral Trust Mortgage Pass-Through Certificates,
Series 2000-BC3)
Structured Asset Securities Corporation
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(Exact Name of Registrant as Specified in its Charter)
Delaware 333-35026 74-2440850
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(State or Other Jurisdiction (Commission (I.R.S. Employer
Of Incorporation) File Number) Identification No.)
200 Vesey Street
New York, New York 10285
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(Address of Principal Executive (Zip Code)
Offices)
Registrant's telephone number, including area code: (212) 526-5594
No Change
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The Registrant registered issuances of Amortizing Residential Collateral
Trust Mortgage Pass-Through Certificates Series 2000-BC3 on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, as
amended (the "Act"), by a Registration Statement on Form S-3 (Registration
File No. 333-35026) (the "Registration Statement"). Pursuant to the
Registration Statement, the Registrant issued $740,121,000 in aggregate
principal amount of Class A2, Class M1, Class M2 and Class B Certificates of
its Amortizing Residential Collateral Trust Mortgage Pass-Through
Certificates, Series 2000-BC3 on August 31, 2000. This Current Report on Form
8-K is being filed to satisfy an undertaking, contained in the definitive
Prospectus dated May 23, 2000, as supplemented by the Prospectus Supplement
dated August 31, 2000 (the "Prospectus Supplement") to file a copy of
Amendment No. 1 (as defined below) to the Trust Agreement (as defined below)
filed hereto as Exhibit 99.1.
The Certificates were issued pursuant to a Trust Agreement (the "Trust
Agreement"), dated as of August 1, 2000, among Structured Asset Securities
Corporation, as Depositor, Lehman Brothers Holdings Inc., as Seller, Wells
Fargo Bank Minnesota, National Association, as Master Servicer, The Murrayhill
Company, as Loss Mitigation Advisor, First Union National Bank, as Trustee and
Federal Home Loan Mortgage Corporation, as Guarantor. The "Certificates"
consist of the following classes: Class A1, Class A2, Class M1, Class M2,
Class P, Class X and Class R.
Amendment No. 1 to the Trust Agreement, dated as of December 1, 2000
("Amendment No. 1"), among the Depositor, the Seller, the Loss Mitigation
Advisor, the Trustee and the Master Servicer, amends the Trust Agreement to
permit the issuance of the Class X Certificates in minimum denominations of
25% and integral multiples of 5% in excess thereof, and amends certain
provisions of Section 5.02, as described in Amendment No. 1.
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Item 7. Financial Statements; Pro Forma Financial Information and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Amendment No. 1 to the Trust Agreement, dated as of
December 1, 2000, among Structured Asset Securities
Corporation, as Depositor, Lehman Brothers Holdings
Inc., as Seller, First Union National Bank, as
Trustee, The Murrayhill Company, as Loss Mitigation
Advisor, Wells Fargo Bank Minnesota, National
Association, as Master Servicer and Federal Home Loan
Mortgage Corporation, as Guarantor.
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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/ Ellen V. Kiernan
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Name: Ellen V. Kiernan
Title: Vice President
Dated: January 3, 2001
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EXHIBIT INDEX
Exhibit No. Description Page No.
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99.1 Amendment No. 1 to the Trust Agreement
