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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended
Date of Report (Date of earliest event reported): October 18, 1996
STRUCTURED ASSET SECURITIES CORPORATION
(as depositor under the Pooling and Servicing Agreement, dated as
of October 1, 1996, providing for the issuance of Multiclass
Pass-Through Certificates, Series 1996-C2
Structured Asset Securities Corporation
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(Exact name of registrant as specified in its charter)
Delaware 33-96378 74-2440850
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
200 Vesey Street
New York, New York 10285
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (212) 526-5594
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Item 5. OTHER EVENTS.
On October 30, 1996, the Registrant expects to cause the
issuance and sale of Multiclass Pass-Through Certificates, Series
1996-C2 (the "Certificates") pursuant to a Trust Agreement, to be dated
as of October 1, 1996, among the Registrant, GMAC Commercial Mortgage
Corporation as master servicer, CRIIMI MAE Services Limited Partnership
as special servicer, LaSalle National Bank as trustee and ABN AMRO Bank
N.V. as fiscal agent.
In connection with the expected sale of the Certificates,
Lehman Brothers Inc. (the "Underwriter") has advised the Registrant
that it has furnished to prospective investors certain yield tables and
other computational materials (the "Computational Materials") with
respect to the Certificates following the effective date of
Registration Statement No. 33-96378, which Computational Materials are
being filed as exhibits to this report.
The Computational Materials have been provided by the
Underwriter. The information in the Computational Materials is
preliminary and may be superseded by the Prospectus Supplement relating
to the Certificates and by any other information subsequently filed
with the Securities and Exchange Commission.
The Computational Materials were prepared by the Underwriter
at the request of certain prospective investors, based on assumptions
provided by, and satisfying the special requirements of, such
prospective investors. The Computational Materials may be based on
assumptions that differ from the assumptions set forth in the
Prospectus Supplement. The Computational Materials may not include, and
do not purport to include, information based on assumptions
representing a complete set of possible scenarios. Accordingly, the
Computational Materials may not be relevant to or appropriate for
investors other than those specifically requesting them.
In addition, the actual characteristics and performance of the
mortgage loans underlying the Certificates (the "Mortgage Loans") may
differ from the assumptions used in the Computational Materials, which
are hypothetical in nature and which were provided to certain investors
only to give a general sense of how the yield, average life, duration,
expected maturity, interest rate sensitivity and cash flow
characteristics of a particular class of Certificates might vary under
varying prepayment and other scenarios. Any difference between such
assumptions and the actual characteristics and performance of the
Mortgage Loans will affect the actual yield, average life, duration,
expected maturity, interest rate sensitivity and cash flow
characteristics of the Certificates.
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Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(a) FINANCIAL STATEMENTS.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS
Item 601 (a) of
Exhibit Regulation S-K
Number Exhibit No. Description
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1 99 Computational Materials
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
STRUCTURED ASSET SECURITIES
CORPORATION
By: /s/ Wayne C. Olson
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Name: Wayne C. Olson
Title: Managing Director
and Authorized Signatory
Dated: October 18, 1996
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EXHIBIT INDEX
Item 601 (a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
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1 99 Computational Materials P
