SUPPLEMENT
(To Supplement dated June 28, 1996 to Prospectus Supplement dated February 9,
1996 and Prospectus dated January 29, 1996)
Structured Asset Securities Corporation
Multiclass Pass-Through Certificates, Series 1996-CFL
Class X Certificates
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This is a Supplement to the Supplement dated June 28, 1996 (the
"Supplement") to the Prospectus Supplement dated February 9, 1996 and the
Prospectus dated January 29, 1996 relating to the Structured Asset Securities
Corporation Multiclass Pass-Through Certificates, Series 1996-CFL, Class X.
Capitalized terms used herein and not otherwise defined shall have the meanings
given them in the Supplement.
The CPR percentages set forth as 0% CPR, 15% CPR, 25% CPR and 100% CPR in
the column headings in the tables under the heading "Scenario 6" on pages S1-17,
S1-19, S1-21 and S1-23 of the Supplement are hereby changed to read,
respectively, as follows: 1% CPR, 2% CPR, 3% CPR and 4% CPR.
In addition, the historic prepayment rates set forth as percentages in the
tables on pages S1-8 and S1-9 in the Supplement under the headings "THE MORTGAGE
LOANS - Prepayment History" and "- Prepayment History Excluding Certain Mortgage
Loans" are annual rates.
In all other respects, the Supplement remains unchanged.
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LEHMAN BROTHERS
July 9, 1996
