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
Date of Report (Date of earliest event reported) : June 25, 1996
STRUCTURED ASSET SECURITIES CORPORATION (as depositor under the
Trust Agreement, dated as of May 23, 1996, providing for the
issuance of Structured Asset Securities Corporation Mortgage
Pass-Through Certificates, Series GreenPoint 1996-2)
STRUCTURED ASSET SECURITIES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 33-99598 74-2440850
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
200 Vesey Street
New York, New York 10285
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code : (212) 526-5594
Registrant's telephone number, including area code : (704) 386-5000
N/A
(Former name or former address, if changed since last report.)
Page 1 of 4 This report consists of 44
consecutively numbered pages.
<PAGE>
Item 5. Other Events.
- ------- -------------
On June 25, 1996, July 25, 1996, August 25, 1996, September 25, 1996,
October 25, 1996, November 25, 1996, December 26, 1996, and
January 27, 1997 distributions were made to the Certificateholders.
Specific information with respect to the distributions is filed as
Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, 99.7 and 99.8 hereto.
No other reportable transactions or matters have occurred during the
current reporting period.
Item 7. Financial Statements and Exhibits.
- ------- ----------------------------------
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on June 25, 1996 filed as
Exhibit 99.1 hereto.
Statement to Certificateholders on July 25, 1996 filed as
Exhibit 99.2 hereto.
Statement to Certificateholders on August 25, 1996 filed as
Exhibit 99.3 hereto.
Statement to Certificateholders on September 25, 1996 filed as
Exhibit 99.4 hereto.
Statement to Certificateholders on October 25, 1996 filed as
Exhibit 99.5 hereto.
Statement to Certificateholders on November 25, 1996 filed as
Exhibit 99.6 hereto.
Statement to Certificateholders on December 26, 1996 filed as
Exhibit 99.7 hereto.
Statement to Certificateholders on January 27, 1997 filed as
Exhibit 99.8 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.
STRUCTURED ASSET SECURITIES CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES GREENPOINT 1996-2
Date: April 16, 1997 By: /s/ Prue Larocca
---------------------
Prue Larocca
Vice President
3
<PAGE>
INDEX TO EXHIBITS
- -----------------
Exhibit
Number Description of Exhibits Page
------ -------------------------------------- ----
99.1 Monthly Certificate Holder Statement on 5
June 25, 1996.
99.2 Monthly Certificate Holder Statement on 10
July 25, 1996.
99.3 Monthly Certificate Holder Statement on 15
August 26, 1996.
99.4 Monthly Certificate Holder Statement on 20
September 25, 1996.
99.5 Monthly Certificate Holder Statement on 25
October 25, 1996.
99.6 Monthly Certificate Holder Statement on 30
November 25, 1996.
99.7 Monthly Certificate Holder Statement on 35
December 26, 1996.
99.8 Monthly Certificate Holder Statement on 40
January 27, 1997.
4
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on June 25, 1996
5
<PAGE>
<TABLE>
Creation Date : Tue Jun 25, 1996 12:25 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 05/02/1996 End Date : 05/31/1996
Determination Date : 06/18/1996 Remittance Date : 06/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 191,304.22 191,304.22
Prepayment Prin 105,460.35 105,460.35
Payoff Prin 747,468.44 747,468.44
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,159,370.64 1,159,370.64
TOTAL 2,203,603.65 2,203,603.65
II. Pool Balance
Beginning Balance 200,723,973.60 200,723,973.60
Scheduled Prin 191,304.22 191,304.22
Prepay Prin 105,460.35 105,460.35
Payoff Prin 747,468.44 747,468.44
Other 0.00 0.00
Ending Balance 199,679,740.59 199,679,740.59
III. Interest to Certificateholders
<S> <C> <C> <C> <C> <C>
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 65,263,000.00 7.00000000% $ 380,700.83 $ 0.00 $ 380,700.83
A3-1 13,653,000.00 7.00000000% $ 79,642.50 $ 0.00 $ 79,642.50
A3-2 51,610,000.00 7.00000000% $ 301,058.33 $ 0.00 $ 301,058.33
A4 13,901,000.00 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,974,717.98 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,520,000.00 7.00000000% $ 32,200.00 $ 0.00 $ 32,200.00
B2 2,509,000.00 7.00000000% $ 14,635.83 $ 0.00 $ 14,635.83
B3 1,505,000.00 7.00000000% $ 8,779.17 $ 0.00 $ 8,779.17
B4 2,309,000.00 7.00000000% $ 13,469.17 $ 0.00 $ 13,469.17
B5 1,104,000.00 7.00000000% $ 6,440.00 $ 0.00 $ 6,440.00
B6 1,104,155.62 7.00000000% $ 6,440.91 $ 0.00 $ 6,440.91
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 186,672,817.98 $ 995,390.84 $ 0.00 $ 995,390.84
SUBOR 14,051,255.62 $ 81,965.66 $ 0.00 $ 81,965.66
TOTAL 200,723,973.60 $ 1,077,356.50 $ 0.00 $ 1,077,356.50
6
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Jun 25, 1996 12:25 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 05/02/1996 End Date : 05/31/1996
Determination Date : 06/18/1996 Remittance Date: 06/25/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 15,937.61
VII. Principal to Certificateholders
<S> <C> <C> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 65,263,000.00 1,099,170.66 64,163,829.34 0.9831578282
A3-1 13,653,000.00 1,018,081.49 12,634,918.51 0.9254316641
A3-2 51,610,000.00 81,089.17 51,528,910.83 0.9984288090
A4 13,901,000.00 0.00 13,982,089.17 1.0058333336
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,974,717.98 12,752.39 1,961,965.59 0.9935421715
B1 5,520,000.00 5,263.86 5,514,736.14 0.9990464022
B2 2,509,000.00 2,392.57 2,506,607.43 0.9990464049
B3 1,505,000.00 1,435.16 1,503,564.84 0.9990464053
B4 2,309,000.00 2,201.85 2,306,798.15 0.9990464054
B5 1,104,000.00 1,052.77 1,102,947.23 0.9990464040
B6 1,104,155.62 1,052.92 1,103,102.70 0.9990464025
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 186,672,817.98 1,111,923.05 185,641,884.10
SUBOR 14,051,255.62 13,399.13 14,037,856.49
TOTAL 200,723,973.60 1,125,322.18 199,679,740.59
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.50
7
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Jun 25, 1996 12:25 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 05/02/1996 End Date : 05/31/1996
Determination Date : 06/18/1996 Remittance Date : 06/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,099,170.66 1,000.00 $ 16.8421718278
A3-1 13,653,000.00 1,018,081.49 1,000.00 $ 74.5683358969
A3-2 51,610,000.00 81,089.17 1,000.00 $ 1.5711910482
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 12,752.39 1,000.00 $ 6.4578284743
B1 5,520,000.00 5,263.86 1,000.00 $ 0.9535978261
B2 2,509,000.00 2,392.57 1,000.00 $ 0.9535950578
B3 1,505,000.00 1,435.16 1,000.00 $ 0.9535946844
B4 2,309,000.00 2,201.85 1,000.00 $ 0.9535946297
B5 1,104,000.00 1,052.77 1,000.00 $ 0.9535960145
B6 1,104,155.62 1,052.92 1,000.00 $ 0.9535974648
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 380,700.83 1,000.00 $ 5.8333332823
A3-1 13,653,000.00 79,642.50 1,000.00 $ 5.8333333333
A3-2 51,610,000.00 301,058.33 1,000.00 $ 5.8333332687
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,200.00 1,000.00 $ 5.8333333333
B2 2,509,000.00 14,635.83 1,000.00 $ 5.8333320048
B3 1,505,000.00 8,779.17 1,000.00 $ 5.8333355482
B4 2,309,000.00 13,469.17 1,000.00 $ 5.8333347770
B5 1,104,000.00 6,440.00 1,000.00 $ 5.8333333333
B6 1,104,155.62 6,440.91 1,000.00 $ 5.8333353409
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.9997621274% 186,672,817.98 100.0000000000%
SUBORD 7.0002378726% 14,051,155.62 0.0000000000%
8
</TABLE>
<PAGE>
Creation Date : Tue Jun 25, 1996 12:25 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 05/02/1996 End Date : 05/31/1996
Determination Date : 06/18/1996 Remittance Date 06/25/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 0 0.00
60 DAYS 0 0.00
90+ DAYS 0 0.00
TOTAL 0 0.00
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 634
Loans Paid Off 2
Ending Loan Number 632
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
9
<PAGE>
Exhibit 99.2
Monthly Certificate Holder Statement on July 25, 1996
10
<PAGE>
<TABLE>
Creation Date : Tue Jul 23, 1996 10:25 AM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/18/1996 Remittance Date: 07/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 192,599.23 192,599.23
Prepayment Prin 98,055.04 98,055.04
Payoff Prin 738,050.14 738,050.14
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,153,353.69 1,153,353.69
TOTAL 2,182,058.10 2,182,058.10
II. Pool Balance
Beginning Balance 199,679,740.59 199,679,740.59
Scheduled Prin 192,599.23 192,599.23
Prepay Prin 98,055.04 98,055.04
Payoff Prin 738,050.14 738,050.14
Other 0.00 0.00
Ending Balance 198,651,036.18 198,651,036.18
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 64,163,829.34 7.00000000% $ 374,289.00 $ 0.00 $ 374,289.00
A3-1 12,634,918.51 7.00000000% $ 73,703.69 $ 0.00 $ 73,703.69
A3-2 51,528,910.83 7.00000000% $ 300,585.31 $ 0.00 $ 300,585.31
A4 13,982,089.17 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,961,965.59 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,514,736.14 7.00000000% $ 32,169.29 $ 0.00 $ 32,169.29
B2 2,506,607.43 7.00000000% $ 14,621.88 $ 0.00 $ 14,621.88
B3 1,503,564.84 7.00000000% $ 8,770.79 $ 0.00 $ 8,770.79
B4 2,306,798.15 7.00000000% $ 13,456.32 $ 0.00 $ 13,456.32
B5 1,102,947.23 7.00000000% $ 6,433.86 $ 0.00 $ 6,433.86
B6 1,103,102.70 7.00000000% $ 6,434.77 $ 0.00 $ 6,434.77
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 185,641,984.10 $ 988,979.01 $ 0.00 $ 988,979.01
SUBOR 14,037,756.49 $ 81,887.49 $ 0.00 $ 81,887.49
TOTAL 199,679,740.59 $ 1,070,866.50 $ 0.00 $ 1,070,866.50
11
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Jul 23, 1996 10:25 AM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/18/1996 Remittance Date 07/25/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 148,407.19
VII. Principal to Certificateholders
<S> <C> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 64,163,829.34 1,094,329.77 63,069,499.57 0.9663898315
A3-1 12,634,918.51 1,012,767.58 11,622,150.93 0.8512525401
A3-2 51,528,910.83 81,562.19 51,447,348.64 0.9968484526
A4 13,982,089.17 0.00 14,063,651.36 1.0117006949
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,961,965.59 2,408.77 1,959,556.82 0.9923223670
B1 5,514,736.14 5,314.50 5,509,421.64 0.9980836304
B2 2,506,607.43 2,415.60 2,504,191.83 0.9980836309
B3 1,503,564.84 1,448.97 1,502,115.87 0.9980836346
B4 2,306,798.15 2,223.04 2,304,575.11 0.9980836336
B5 1,102,947.23 1,062.90 1,101,884.33 0.9980836322
B6 1,103,102.70 1,063.05 1,102,039.65 0.9980836306
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 185,641,984.10 1,096,738.54 184,626,807.75
SUBOR 14,037,756.49 13,528.06 14,024,228.43
TOTAL 199,679,740.59 1,110,266.60 198,651,036.18
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.53
</TABLE>
12
<PAGE>
<TABLE>
Creation Date : Tue Jul 23, 1996 10:25 AM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/18/1996 Remittance Date : 07/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,094,329.77 1,000.00 $ 16.7679967210
A3-1 13,653,000.00 1,012,767.58 1,000.00 $ 74.1791240021
A3-2 51,610,000.00 81,562.19 1,000.00 $ 1.5803563263
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 2,408.77 1,000.00 $ 1.2198045617
B1 5,520,000.00 5,314.50 1,000.00 $ 0.9627717391
B2 2,509,000.00 2,415.60 1,000.00 $ 0.9627740136
B3 1,505,000.00 1,448.97 1,000.00 $ 0.9627707641
B4 2,309,000.00 2,223.04 1,000.00 $ 0.9627717627
B5 1,104,000.00 1,062.90 1,000.00 $ 0.9627717391
B6 1,104,155.62 1,063.05 1,000.00 $ 0.9627718962
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 374,289.00 1,000.00 $ 5.7350872623
A3-1 13,653,000.00 73,703.69 1,000.00 $ 5.3983512781
A3-2 51,610,000.00 300,585.31 1,000.00 $ 5.8241679907
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,169.29 1,000.00 $ 5.8277699275
B2 2,509,000.00 14,621.88 1,000.00 $ 5.8277720207
B3 1,505,000.00 8,770.79 1,000.00 $ 5.8277674419
B4 2,309,000.00 13,456.32 1,000.00 $ 5.8277695972
B5 1,104,000.00 6,433.86 1,000.00 $ 5.8277717391
B6 1,104,155.62 6,434.77 1,000.00 $ 5.8277745306
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percent Beginning Balance Prepayment Percent
A 92.9698644190% 185,641,984.10 100.0000000000%
SUBORD 7.0301355810% 14,037,756.49 0.0000000000%
13
</TABLE>
<PAGE>
Creation Date : Tue Jul 23, 1996 10:25 AM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/18/1996 Remittance Date: 07/25/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 2 451,275.53
60 DAYS 0 0.00
90+ DAYS 0 0.00
TOTAL 2 451,275.53
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 632
Loans Paid Off 3
Ending Loan Number 629
XVII. Covered Loss Amount Information
14
<PAGE>
Exhibit 99.3
Monthly Certificate Holder Statement on August 25, 1996
15
<PAGE>
<TABLE>
Creation Date : Wed Aug 21, 1996 04:08 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/19/1996 Remittance Date : 08/26/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 193,851.12 193,851.12
Prepayment Prin 33,398.30 33,398.30
Payoff Prin 919,470.73 919,470.73
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,147,368.22 1,147,368.22
TOTAL 2,294,088.37 2,294,088.37
II. Pool Balance
Beginning Balance 198,651,036.18 198,651,036.18
Scheduled Prin 193,851.12 193,851.12
Prepay Prin 33,398.30 33,398.30
Payoff Prin 919,470.73 919,470.73
Other 0.00 0.00
Ending Balance 197,504,316.03 197,504,316.03
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 63,069,499.57 7.00000000% $ 367,905.41 $ 0.00 $ 367,905.41
A3-1 11,622,150.93 7.00000000% $ 67,795.88 $ 0.00 $ 67,795.88
A3-2 51,447,348.64 7.00000000% $ 300,109.53 $ 0.00 $ 300,109.53
A4 14,063,651.36 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,959,556.82 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,509,421.64 7.00000000% $ 32,138.29 $ 0.00 $ 32,138.29
B2 2,504,191.83 7.00000000% $ 14,607.79 $ 0.00 $ 14,607.79
B3 1,502,115.87 7.00000000% $ 8,762.34 $ 0.00 $ 8,762.34
B4 2,304,575.11 7.00000000% $ 13,443.35 $ 0.00 $ 13,443.35
B5 1,101,884.33 7.00000000% $ 6,427.66 $ 0.00 $ 6,427.66
B6 1,102,039.65 7.00000000% $ 6,428.56 $ 0.00 $ 6,428.56
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 184,626,807.75 $ 982,596.00 $ 0.00 $ 982,596.00
SUBOR 14,024,228.43 $ 81,807.99 $ 0.00 $ 81,807.99
TOTAL 198,651,036.18 $ 1,064,403.99 $ 0.00 $ 1,064,403.99
16
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Aug 21, 1996 04:08 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/19/1996 Remittance Date: 08/26/1996
V. Servicing Advances
Current Advances 389,542.55
VI. Servicing Fee
Amount 153,219.07
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 63,069,499.57 1,212,420.07 61,857,079.50 0.9478123822
A3-1 11,622,150.93 1,130,382.10 10,491,768.83 0.7684588611
A3-2 51,447,348.64 82,037.97 51,365,310.67 0.9952588775
A4 14,063,651.36 0.00 14,145,689.33 1.0176022826
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,959,556.82 2,674.39 1,956,882.43 0.9909680521
B1 5,509,421.64 5,367.77 5,504,053.87 0.9971112083
B2 2,504,191.83 2,439.81 2,501,752.02 0.9971112077
B3 1,502,115.87 1,463.50 1,500,652.37 0.9971112093
B4 2,304,575.11 2,245.32 2,302,329.79 0.9971112126
B5 1,101,884.33 1,073.55 1,100,810.78 0.9971112138
B6 1,102,039.65 1,073.71 1,100,965.94 0.9971112043
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 184,626,807.75 1,215,094.46 183,493,751.26
SUBOR 14,024,228.43 13,663.66 14,010,564.77
TOTAL 198,651,036.18 1,228,758.12 197,504,316.03
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 2.79
17
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Aug 21, 1996 04:08 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/19/1996 Remittance Date: 08/26/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,212,420.07 1,000.00 $ 18.5774492438
A3-1 13,653,000.00 1,130,382.10 1,000.00 $ 82.7936790449
A3-2 51,610,000.00 82,037.97 1,000.00 $ 1.5895750823
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 2,674.39 1,000.00 $ 1.3543149083
B1 5,520,000.00 5,367.77 1,000.00 $ 0.9724221014
B2 2,509,000.00 2,439.81 1,000.00 $ 0.9724232762
B3 1,505,000.00 1,463.50 1,000.00 $ 0.9724252492
B4 2,309,000.00 2,245.32 1,000.00 $ 0.9724209615
B5 1,104,000.00 1,073.55 1,000.00 $ 0.9724184783
B6 1,104,155.62 1,073.71 1,000.00 $ 0.9724263324
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 367,905.41 1,000.00 $ 5.6372739531
A3-1 13,653,000.00 67,795.88 1,000.00 $ 4.9656397861
A3-2 51,610,000.00 300,109.53 1,000.00 $ 5.8149492346
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,138.29 1,000.00 $ 5.8221539855
B2 2,509,000.00 14,607.79 1,000.00 $ 5.8221562375
B3 1,505,000.00 8,762.34 1,000.00 $ 5.8221528239
B4 2,309,000.00 13,443.35 1,000.00 $ 5.8221524469
B5 1,104,000.00 6,427.66 1,000.00 $ 5.8221557971
B6 1,104,155.62 6,428.56 1,000.00 $ 5.8221503233
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.9402691770% 184,626,807.75 100.0000000000%
SUBORD 7.0597308230% 14,024,228.43 0.0000000000%
18
</TABLE>
<PAGE>
Creation Date : Wed Aug 21, 1996 04:08 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/19/1996 Remittance Date : 08/26/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 2 480,033.86
60 DAYS 0 0.00
90+ DAYS 0 0.00
TOTAL 2 480,033.86
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 629
Loans Paid Off 4
Ending Loan Number 625
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
19
<PAGE>
Exhibit 99.4
Monthly Certificate Holder Statement on September 25, 1996
20
<PAGE>
<TABLE>
Creation Date : Wed Sep 11, 1996 12:53 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/18/1996 Remittance Date : 09/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 194,530.13 194,530.13
Prepayment Prin 55,252.36 55,252.36
Payoff Prin 763,720.57 763,720.57
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,140,693.37 1,140,693.37
TOTAL 2,154,196.43 2,154,196.43
II. Pool Balance
Beginning Balance 197,504,316.03 197,504,316.03
Scheduled Prin 194,530.13 194,530.13
Prepay Prin 55,252.36 55,252.36
Payoff Prin 763,720.57 763,720.57
Other 0.00 0.00
Ending Balance 196,490,812.97 196,490,812.97
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 61,857,079.50 7.00000000% $ 360,832.96 $ 0.00 $ 360,832.96
A3-1 10,491,768.83 7.00000000% $ 61,201.98 $ 0.00 $ 61,201.98
A3-2 51,365,310.67 7.00000000% $ 299,630.98 $ 0.00 $ 299,630.98
A4 14,145,689.33 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,956,882.43 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,504,053.87 7.00000000% $ 32,106.98 $ 0.00 $ 32,106.98
B2 2,501,752.02 7.00000000% $ 14,593.55 $ 0.00 $ 14,593.55
B3 1,500,652.37 7.00000000% $ 8,753.81 $ 0.00 $ 8,753.81
B4 2,302,329.79 7.00000000% $ 13,430.26 $ 0.00 $ 13,430.26
B5 1,100,810.78 7.00000000% $ 6,421.40 $ 0.00 $ 6,421.40
B6 1,100,965.94 7.00000000% $ 6,422.30 $ 0.00 $ 6,422.30
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 183,493,751.26 $ 975,523.55 $ 0.00 $ 975,523.55
SUBOR 14,010,564.77 $ 81,728.30 $ 0.00 $ 81,728.30
TOTAL 197,504,316.03 $ 1,057,251.85 $ 0.00 $ 1,057,251.85
</TABLE>
21
<PAGE>
<TABLE>
Creation Date : Wed Sep 11, 1996 12:53 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/18/1996 Remittance Date : 09/25/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 153,279.71
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 61,857,079.50 1,079,303.56 60,777,775.94 0.9312746264
A3-1 10,491,768.83 996,787.04 9,494,981.79 0.6954502153
A3-2 51,365,310.67 82,516.52 51,282,794.15 0.9936600300
A4 14,145,689.33 0.00 14,228,205.85 1.0235382958
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,956,882.43 2,932.59 1,953,949.84 0.9894829843
B1 5,504,053.87 5,414.83 5,498,639.04 0.9961302609
B2 2,501,752.02 2,461.19 2,499,290.83 0.9961302631
B3 1,500,652.37 1,476.32 1,499,176.05 0.9961302658
B4 2,302,329.79 2,265.01 2,300,064.78 0.9961302642
B5 1,100,810.78 1,082.96 1,099,727.82 0.9961302717
B6 1,100,965.94 1,083.12 1,099,882.82 0.9961302556
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 183,493,751.26 1,082,236.15 182,494,031.63
SUBOR 14,010,564.77 13,783.43 13,996,781.34
TOTAL 197,504,316.03 1,096,019.58 196,490,812.97
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.53
</TABLE>
22
<PAGE>
<TABLE>
Creation Date : Wed Sep 11, 1996 12:53 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/18/1996 Remittance Date : 09/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,079,303.56 1,000.00 $ 16.5377558494
A3-1 13,653,000.00 996,787.04 1,000.00 $ 73.0086457189
A3-2 51,610,000.00 82,516.52 1,000.00 $ 1.5988475102
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 2,932.59 1,000.00 $ 1.4850677564
B1 5,520,000.00 5,414.83 1,000.00 $ 0.9809474638
B2 2,509,000.00 2,461.19 1,000.00 $ 0.9809445994
B3 1,505,000.00 1,476.32 1,000.00 $ 0.9809435216
B4 2,309,000.00 2,265.01 1,000.00 $ 0.9809484625
B5 1,104,000.00 1,082.96 1,000.00 $ 0.9809420290
B6 1,104,155.62 1,083.12 1,000.00 $ 0.9809486819
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 360,832.96 1,000.00 $ 5.5289055054
A3-1 13,653,000.00 61,201.98 1,000.00 $ 4.4826763349
A3-2 51,610,000.00 299,630.98 1,000.00 $ 5.8056768068
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,106.98 1,000.00 $ 5.8164818841
B2 2,509,000.00 14,593.55 1,000.00 $ 5.8164806696
B3 1,505,000.00 8,753.81 1,000.00 $ 5.8164850498
B4 2,309,000.00 13,430.26 1,000.00 $ 5.8164833261
B5 1,104,000.00 6,421.40 1,000.00 $ 5.8164855072
B6 1,104,155.62 6,422.30 1,000.00 $ 5.8164808327
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.9061981770% 183,493,751.26 100.0000000000%
SUBORD 7.0938018230% 14,010,564.77 0.0000000000%
</TABLE>
23
<PAGE>
Creation Date : Wed Sep 11, 1996 12:53 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/18/1996 Remittance Date : 09/25/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 5 1,620,933.82
60 DAYS 0 0.00
90+ DAYS 0 0.00
TOTAL 5 1,620,933.82
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 625
Loans Paid Off 3
Ending Loan Number 622
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
24
<PAGE>
Exhibit 99.5
Monthly Certificate Holder Statement on October 25, 1996
25
<PAGE>
<TABLE>
Creation Date : Tue Oct 15, 1996 11:47 AM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 09/01/1996 End Date : 09/30/1996
Determination Date : 10/18/1996 Remittance Date : 10/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 195,456.80 195,456.80
Prepayment Prin 37,593.61 37,593.61
Payoff Prin 1,288,503.97 1,288,503.97
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,134,797.55 1,134,797.55
TOTAL 2,656,351.93 2,656,351.93
II. Pool Balance
Beginning Balance 196,490,812.97 196,490,812.97
Scheduled Prin 195,456.80 195,456.80
Prepay Prin 37,593.61 37,593.61
Payoff Prin 1,288,503.97 1,288,503.97
Other 0.00 0.00
Ending Balance 194,969,258.59 194,969,258.59
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 60,777,775.94 7.00000000% $ 354,537.02 $ 0.00 $ 354,537.02
A3-1 9,494,981.79 7.00000000% $ 55,387.39 $ 0.00 $ 55,387.39
A3-2 51,282,794.15 7.00000000% $ 299,149.63 $ 0.00 $ 299,149.63
A4 14,228,205.85 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,953,949.84 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,498,639.04 7.00000000% $ 32,075.39 $ 0.00 $ 32,075.39
B2 2,499,290.83 7.00000000% $ 14,579.20 $ 0.00 $ 14,579.20
B3 1,499,176.05 7.00000000% $ 8,745.19 $ 0.00 $ 8,745.19
B4 2,300,064.78 7.00000000% $ 13,417.04 $ 0.00 $ 13,417.04
B5 1,099,727.82 7.00000000% $ 6,415.08 $ 0.00 $ 6,415.08
B6 1,099,882.82 7.00000000% $ 6,415.98 $ 0.00 $ 6,415.98
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 182,494,031.63 $ 969,227.61 $ 0.00 $ 969,227.61
SUBOR 13,996,781.34 $ 81,647.88 $ 0.00 $ 81,647.88
TOTAL 196,490,812.97 $ 1,050,875.49 $ 0.00 $ 1,050,875.49
26
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Oct 15, 1996 11:47 AM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 09/01/1996 End Date : 09/30/1996
Determination Date : 10/18/1996 Remittance Date : 10/25/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 152,050.00
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 60,777,775.94 1,580,757.57 59,197,018.37 0.9070532824
A3-1 9,494,981.79 1,497,759.70 7,997,222.09 0.5857483403
A3-2 51,282,794.15 82,997.87 51,199,796.28 0.9920518558
A4 14,228,205.85 0.00 14,311,203.72 1.0295089360
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,953,949.84 9,867.07 1,944,082.77 0.9844862860
B1 5,498,639.04 5,471.46 5,493,167.58 0.9951390543
B2 2,499,290.83 2,486.94 2,496,803.89 0.9951390554
B3 1,499,176.05 1,491.77 1,497,684.28 0.9951390565
B4 2,300,064.78 2,288.70 2,297,776.08 0.9951390559
B5 1,099,727.82 1,094.29 1,098,633.53 0.9951390670
B6 1,099,882.82 1,094.45 1,098,788.37 0.9951390457
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 182,494,031.63 1,590,624.64 180,986,404.86
SUBOR 13,996,781.34 13,927.61 13,982,853.73
TOTAL 196,490,812.97 1,604,552.25 194,969,258.59
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 0.72
</TABLE>
27
<PAGE>
<TABLE>
Creation Date : Tue Oct 15, 1996 11:47 AM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 09/01/1996 End Date : 09/30/1996
Determination Date : 10/18/1996 Remittance Date : 10/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,580,757.57 1,000.00 $ 24.2213439468
A3-1 13,653,000.00 1,497,759.70 1,000.00 $ 109.7018750458
A3-2 51,610,000.00 82,997.87 1,000.00 $ 1.6081741910
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 9,867.07 1,000.00 $ 4.9966983133
B1 5,520,000.00 5,471.46 1,000.00 $ 0.9912065217
B2 2,509,000.00 2,486.94 1,000.00 $ 0.9912076525
B3 1,505,000.00 1,491.77 1,000.00 $ 0.9912093023
B4 2,309,000.00 2,288.70 1,000.00 $ 0.9912083153
B5 1,104,000.00 1,094.29 1,000.00 $ 0.9912047101
B6 1,104,155.62 1,094.45 1,000.00 $ 0.9912099166
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 354,537.02 1,000.00 $ 5.4324352236
A3-1 13,653,000.00 55,387.39 1,000.00 $ 4.0567926463
A3-2 51,610,000.00 299,149.63 1,000.00 $ 5.7963501259
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,075.39 1,000.00 $ 5.8107590580
B2 2,509,000.00 14,579.20 1,000.00 $ 5.8107612595
B3 1,505,000.00 8,745.19 1,000.00 $ 5.8107574751
B4 2,309,000.00 13,417.04 1,000.00 $ 5.8107579039
B5 1,104,000.00 6,415.08 1,000.00 $ 5.8107608696
B6 1,104,155.62 6,415.98 1,000.00 $ 5.8107570018
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.8766230190% 182,494,031.63 100.0000000000%
SUBORD 7.1233769810% 13,996,781.34 0.0000000000%
28
</TABLE>
<PAGE>
Creation Date : Tue Oct 15, 1996 11:47 AM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 09/01/1996 End Date : 09/30/1996
Determination Date : 10/18/1996 Remittance Date : 10/25/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 2 666,155.29
60 DAYS 1 200,101.77
90+ DAYS 0 0.00
TOTAL 3 866,257.06
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 622
Loans Paid Off 4
Ending Loan Number 618
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
29
<PAGE>
Exhibit 99.6
Monthly Certificate Holder Statement on November 25, 1996
30
<PAGE>
<TABLE>
Creation Date : Thu Nov 21, 1996 01:21 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 6 Beginning Date : 10/01/1996 End Date : 10/31/1996
Determination Date : 11/18/1996 Remittance Date : 11/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 195,686.68 195,686.68
Prepayment Prin 120,499.36 120,499.36
Payoff Prin 664,887.76 664,887.76
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,125,980.20 1,125,980.20
TOTAL 2,107,054.00 2,107,054.00
II. Pool Balance
Beginning Balance 194,969,258.59 194,969,258.59
Scheduled Prin 195,686.68 195,686.68
Prepay Prin 120,499.36 120,499.36
Payoff Prin 664,887.76 664,887.76
Other 0.00 0.00
Ending Balance 193,988,184.79 193,988,184.79
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 59,197,018.37 7.00000000% $ 345,315.94 $ 0.00 $ 345,315.94
A3-1 7,997,222.09 7.00000000% $ 46,650.46 $ 0.00 $ 46,650.46
A3-2 51,199,796.28 7.00000000% $ 298,665.48 $ 0.00 $ 298,665.48
A4 14,311,203.72 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,944,082.77 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,493,167.58 7.00000000% $ 32,043.48 $ 0.00 $ 32,043.48
B2 2,496,803.89 7.00000000% $ 14,564.69 $ 0.00 $ 14,564.69
B3 1,497,684.28 7.00000000% $ 8,736.49 $ 0.00 $ 8,736.49
B4 2,297,776.08 7.00000000% $ 13,403.69 $ 0.00 $ 13,403.69
B5 1,098,633.53 7.00000000% $ 6,408.70 $ 0.00 $ 6,408.70
B6 1,098,788.37 7.00000000% $ 6,409.60 $ 0.00 $ 6,409.60
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 180,986,404.86 $ 960,006.53 $ 0.00 $ 960,006.53
SUBOR 13,982,853.73 $ 81,566.65 $ 0.00 $ 81,566.65
TOTAL 194,969,258.59 $ 1,041,573.18 $ 0.00 $ 1,041,573.18
</TABLE>
31
<PAGE>
<TABLE>
Creation Date : Thu Nov 21, 1996 01:21 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 6 Beginning Date : 10/01/1996 End Date : 10/31/1996
Determination Date : 11/18/1996 Remittance Date : 11/25/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 148,946.37
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 59,197,018.37 1,042,601.54 58,154,416.83 0.8910778976
A3-1 7,997,222.09 959,119.52 7,038,102.57 0.5154986135
A3-2 51,199,796.28 83,482.02 51,116,314.26 0.9904343007
A4 14,311,203.72 0.00 14,394,685.74 1.0355144047
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,944,082.77 7,927.34 1,936,155.43 0.9804718697
B1 5,493,167.58 5,510.48 5,487,657.10 0.9941407790
B2 2,496,803.89 2,504.68 2,494,299.21 0.9941407772
B3 1,497,684.28 1,502.41 1,496,181.87 0.9941407774
B4 2,297,776.08 2,305.02 2,295,471.06 0.9941407796
B5 1,098,633.53 1,102.10 1,097,531.43 0.9941407880
B6 1,098,788.37 1,102.25 1,097,686.12 0.9941407716
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 180,986,404.86 1,050,528.88 180,019,358.00
SUBOR 13,982,853.73 14,026.94 13,968,826.79
TOTAL 194,969,258.59 1,064,555.82 193,988,184.79
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.53
</TABLE>
32
<PAGE>
<TABLE>
Creation Date : Thu Nov 21, 1996 01:21 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 6 Beginning Date : 10/01/1996 End Date : 10/31/1996
Determination Date : 11/18/1996 Remittance Date : 11/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,042,601.54 1,000.00 $ 15.9753848275
A3-1 13,653,000.00 959,119.52 1,000.00 $ 70.2497268000
A3-2 51,610,000.00 83,482.02 1,000.00 $ 1.6175551250
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 7,927.34 1,000.00 $ 4.0144162763
B1 5,520,000.00 5,510.48 1,000.00 $ 0.9982753623
B2 2,509,000.00 2,504.68 1,000.00 $ 0.9982781985
B3 1,505,000.00 1,502.41 1,000.00 $ 0.9982790698
B4 2,309,000.00 2,305.02 1,000.00 $ 0.9982763101
B5 1,104,000.00 1,102.10 1,000.00 $ 0.9982789855
B6 1,104,155.62 1,102.25 1,000.00 $ 0.9982741382
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 345,315.94 1,000.00 $ 5.2911441399
A3-1 13,653,000.00 46,650.46 1,000.00 $ 3.4168651578
A3-2 51,610,000.00 298,665.48 1,000.00 $ 5.7869691920
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,043.48 1,000.00 $ 5.8049782609
B2 2,509,000.00 14,564.69 1,000.00 $ 5.8049780789
B3 1,505,000.00 8,736.49 1,000.00 $ 5.8049767442
B4 2,309,000.00 13,403.69 1,000.00 $ 5.8049761802
B5 1,104,000.00 6,408.70 1,000.00 $ 5.8049818841
B6 1,104,155.62 6,409.60 1,000.00 $ 5.8049788308
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.8281751530% 180,986,404.86 100.0000000000%
SUBORD 7.1718248470% 13,982,853.73 0.0000000000%
</TABLE>
33
<PAGE>
Creation Date : Thu Nov 21, 1996 01:21 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 6 Beginning Date : 10/01/1996 End Date : 10/31/1996
Determination Date : 11/18/1996 Remittance Date : 11/25/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 3 1,025,234.72
60 DAYS 1 199,898.75
90+ DAYS 0 0.00
TOTAL 4 1,225,133.47
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 618
Loans Paid Off 3
Ending Loan Number 615
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
34
<PAGE>
Exhibit 99.7
Monthly Certificate Holder Statement on December 25, 1996
35
<PAGE>
<TABLE>
Creation Date : Mon Dec 9, 1996 01:59 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 7 Beginning Date : 11/01/1996 End Date : 11/30/1996
Determination Date : 12/18/1996 Remittance Date : 12/26/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 196,708.16 196,708.16
Prepayment Prin 60,978.61 60,978.61
Payoff Prin 0.00 0.00
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,120,303.51 1,120,303.51
TOTAL 1,377,990.28 1,377,990.28
II. Pool Balance
Beginning Balance 193,988,184.79 193,988,184.79
Scheduled Prin 196,708.16 196,708.16
Prepay Prin 60,978.61 60,978.61
Payoff Prin 0.00 0.00
Other 0.00 0.00
Ending Balance 193,730,498.02 193,730,498.02
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 58,154,416.83 7.00000000% $ 339,234.10 $ 0.00 $ 339,234.10
A3-1 7,038,102.57 7.00000000% $ 41,055.60 $ 0.00 $ 41,055.60
A3-2 51,116,314.26 7.00000000% $ 298,178.50 $ 0.00 $ 298,178.50
A4 14,394,685.74 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,936,155.43 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,487,657.10 7.00000000% $ 32,011.33 $ 0.00 $ 32,011.33
B2 2,494,299.21 7.00000000% $ 14,550.08 $ 0.00 $ 14,550.08
B3 1,496,181.87 7.00000000% $ 8,727.73 $ 0.00 $ 8,727.73
B4 2,295,471.06 7.00000000% $ 13,390.25 $ 0.00 $ 13,390.25
B5 1,097,531.43 7.00000000% $ 6,402.27 $ 0.00 $ 6,402.27
B6 1,097,686.12 7.00000000% $ 6,403.17 $ 0.00 $ 6,403.17
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Class Beg. Balance Schduled Int Loss Disbrsed Int
A 180,019,358.00 $ 953,924.69 $ 0.00 $ 953,924.69
SUBOR 13,968,826.79 $ 81,484.83 $ 0.00 $ 81,484.83
TOTAL 193,988,184.79 $ 1,035,409.52 $ 0.00 $ 1,035,409.52
36
</TABLE>
<PAGE>
<TABLE>
Creation Date : Mon Dec 9, 1996 01:59 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 7 Beginning Date : 11/01/1996 End Date : 11/30/1996
Determination Date : 12/18/1996 Remittance Date : 12/26/1996
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 151,355.74
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 58,154,416.83 324,887.10 57,829,529.73 0.8860997767
A3-1 7,038,102.57 240,918.10 6,797,184.47 0.4978528140
A3-2 51,116,314.26 83,969.00 51,032,345.26 0.9888073098
A4 14,394,685.74 0.00 14,478,654.74 1.0415549054
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,936,155.43 2,599.67 1,933,555.76 0.9791553931
B1 5,487,657.10 5,566.29 5,482,090.81 0.9931323931
B2 2,494,299.21 2,530.04 2,491,769.17 0.9931323914
B3 1,496,181.87 1,517.62 1,494,664.25 0.9931323920
B4 2,295,471.06 2,328.37 2,293,142.69 0.9931323906
B5 1,097,531.43 1,113.26 1,096,418.17 0.9931324004
B6 1,097,686.12 1,113.42 1,096,572.70 0.9931323811
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Class Beg. Balance Schduled Principal Ending Principal
A 180,019,358.00 327,486.77 179,775,840.23
SUBOR 13,968,826.79 14,169.00 13,954,657.79
TOTAL 193,988,184.79 341,655.77 193,730,498.02
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.52
</TABLE>
37
<PAGE>
<TABLE>
Creation Date : Mon Dec 9, 1996 01:59 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 7 Beginning Date : 11/01/1996 End Date : 11/30/1996
Determination Date : 12/18/1996 Remittance Date : 12/26/1996
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 324,887.10 1,000.00 $ 4.9781208342
A3-1 13,653,000.00 240,918.10 1,000.00 $ 17.6457994580
A3-2 51,610,000.00 83,969.00 1,000.00 $ 1.6269908932
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 2,599.67 1,000.00 $ 1.3164765938
B1 5,520,000.00 5,566.29 1,000.00 $ 1.0083858696
B2 2,509,000.00 2,530.04 1,000.00 $ 1.0083858111
B3 1,505,000.00 1,517.62 1,000.00 $ 1.0083853821
B4 2,309,000.00 2,328.37 1,000.00 $ 1.0083889129
B5 1,104,000.00 1,113.26 1,000.00 $ 1.0083876812
B6 1,104,155.62 1,113.42 1,000.00 $ 1.0083904658
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 339,234.10 1,000.00 $ 5.1979544305
A3-1 13,653,000.00 41,055.60 1,000.00 $ 3.0070753681
A3-2 51,610,000.00 298,178.50 1,000.00 $ 5.7775334238
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 32,011.33 1,000.00 $ 5.7991539855
B2 2,509,000.00 14,550.08 1,000.00 $ 5.7991550418
B3 1,505,000.00 8,727.73 1,000.00 $ 5.7991561462
B4 2,309,000.00 13,390.25 1,000.00 $ 5.7991554786
B5 1,104,000.00 6,402.27 1,000.00 $ 5.7991576087
B6 1,104,155.62 6,403.17 1,000.00 $ 5.7991553763
R 100.00 0.58 1,000.00 $ 5.8000000000
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 92.7991352640% 180,019,358.00 100.0000000000%
SUBORD 7.2008647360% 13,968,826.79 0.0000000000%
38
</TABLE>
<PAGE>
Creation Date : Mon Dec 9, 1996 01:59 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 7 Beginning Date : 11/01/1996 End Date : 11/30/1996
Determination Date : 12/18/1996 Remittance Date : 12/26/1996
XIII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 3 1,024,623.79
60 DAYS 1 199,679.98
90+ DAYS 0 0.00
TOTAL 4 1,224,303.77
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIV. Book Value of REO For Due Period $ 0.00
XV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XVI. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 615
Loans Paid Off 0
Ending Loan Number 615
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVIII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
39
<PAGE>
Exhibit 99.8
Monthly Certificate Holder Statement on January 25, 1997
40
<PAGE>
<TABLE>
Creation Date : Wed Jan 15, 1997 02:03 PM SASC 1996-2 PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 8 Beginning Date : 12/01/1996 End Date : 12/31/1996
Determination Date : 01/17/1997 Remittance Date : 01/27/1997
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-2
I. Cash Received
<S> <C> <C>
GROUP MORTGAGE GROUP ONE TOTAL
Scheduled Prin 198,405.06 198,405.06
Prepayment Prin 112,965.62 112,965.62
Payoff Prin 1,230,991.87 1,230,991.87
Liquidation Proceeds 0.00 0.00
Insurance Proceeds 0.00 0.00
Scheduled Int 1,118,815.48 1,118,815.48
TOTAL 2,661,178.03 2,661,178.03
II. Pool Balance
Beginning Balance 193,730,498.02 193,730,498.02
Scheduled Prin 198,405.06 198,405.06
Prepay Prin 112,965.62 112,965.62
Payoff Prin 1,230,991.87 1,230,991.87
Other 0.00 0.00
Ending Balance 192,188,135.47 192,188,135.47
III. Interest to Certificateholders
Class Beg. Balance Rate Schduled Int Loss Disbrsed Int
A1 36,995,000.00 7.00000000% $ 215,804.17 $ 0.00 $ 215,804.17
A2 33,539,000.00 7.00000000% $ 195,644.17 $ 0.00 $ 195,644.17
A3 57,829,529.73 7.00000000% $ 337,338.92 $ 0.00 $ 337,338.92
A3-1 6,797,184.47 7.00000000% $ 39,650.24 $ 0.00 $ 39,650.24
A3-2 51,032,345.26 7.00000000% $ 297,688.68 $ 0.00 $ 297,688.68
A4 14,478,654.74 7.00000000% $ 0.00 $ 0.00 $ 0.00
A5 13,852,000.00 7.50000000% $ 86,575.00 $ 0.00 $ 86,575.00
A6 1,148,000.00 0.00000000% $ 0.00 $ 0.00 $ 0.00
A7 20,000,000.00 7.00000000% $ 116,666.67 $ 0.00 $ 116,666.67
AP 1,933,555.76 0.00000000% $ 0.00 $ 0.00 $ 0.00
B1 5,482,090.81 7.00000000% $ 31,978.86 $ 0.00 $ 31,978.86
B2 2,491,769.17 7.00000000% $ 14,535.32 $ 0.00 $ 14,535.32
B3 1,494,664.25 7.00000000% $ 8,718.87 $ 0.00 $ 8,718.87
B4 2,293,142.69 7.00000000% $ 13,376.67 $ 0.00 $ 13,376.67
B5 1,096,418.17 7.00000000% $ 6,395.77 $ 0.00 $ 6,395.77
B6 1,096,572.70 7.00000000% $ 6,396.67 $ 0.00 $ 6,396.67
R 100.00 7.00000000% $ 0.58 $ 0.00 $ 0.58
IV. Interest to Certificateholders
Beg. Balance Schduled Int Loss Disbrsed Int
193,730,498.02 $ 1,033,431.67 $ 0.00 $ 1,033,431.67
41
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Jan 15, 1997 02:03 PM SASC 1996-2 PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 8 Beginning Date : 12/01/1996 End Date : 12/31/1996
Determination Date : 01/17/1997 Remittance Date : 01/27/1997
V. Servicing Advances
Current Advances 0.00
VI. Servicing Fee
Amount 152,382.12
VII. Principal to Certificateholders
<S> <C> <C>
Class Beg. Balance Schduled Principal Ending Balance Cert. Factor
A1 36,995,000.00 0.00 36,995,000.00 1.0000000000
A2 33,539,000.00 0.00 33,539,000.00 1.0000000000
A3 57,829,529.73 1,585,254.51 56,244,275.22 0.8618095279
A3-1 6,797,184.47 1,500,795.69 5,296,388.78 0.3879285710
A3-2 51,032,345.26 84,458.82 50,947,886.44 0.9871708281
A4 14,478,654.74 0.00 14,563,113.56 1.0476306424
A5 13,852,000.00 0.00 13,852,000.00 1.0000000000
A6 1,148,000.00 0.00 1,148,000.00 1.0000000000
A7 20,000,000.00 0.00 20,000,000.00 1.0000000000
AP 1,933,555.76 27,272.40 1,906,283.36 0.9653446109
B1 5,482,090.81 5,615.59 5,476,475.22 0.9921150761
B2 2,491,769.17 2,552.44 2,489,216.73 0.9921150777
B3 1,494,664.25 1,531.06 1,493,133.19 0.9921150764
B4 2,293,142.69 2,348.98 2,290,793.71 0.9921150758
B5 1,096,418.17 1,123.12 1,095,295.05 0.9921150815
B6 1,096,572.70 1,123.27 1,095,449.43 0.9921150698
R 100.00 0.00 100.00 1.0000000000
VIII. Principal to Certificateholders
Beg. Balance Schduled Principal Ending Balance
193,730,498.02 1,626,821.37 192,188,135.47
IX. Residual Payments to Class R
GROUP MORTGAGE GROUP ONE
Residual Interest 1.52
42
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Jan 15, 1997 02:03 PM SASC 1996-2 PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 8 Beginning Date : 12/01/1996 End Date : 12/31/1996
Determination Date : 01/17/1997 Remittance Date : 01/27/1997
X. Single Certificate Principal Distribution
<S> <C> <C>
Class Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 36,995,000.00 0.00 1,000.00 $ 0.0000000000
A2 33,539,000.00 0.00 1,000.00 $ 0.0000000000
A3 65,263,000.00 1,585,254.51 1,000.00 $ 24.2902488393
A3-1 13,653,000.00 1,500,795.69 1,000.00 $ 109.9242430235
A3-2 51,610,000.00 84,458.82 1,000.00 $ 1.6364816896
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 0.00 1,000.00 $ 0.0000000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 0.00 1,000.00 $ 0.0000000000
AP 1,974,717.98 27,272.40 1,000.00 $ 13.8107822364
B1 5,520,000.00 5,615.59 1,000.00 $ 1.0173170290
B2 2,509,000.00 2,552.44 1,000.00 $ 1.0173136708
B3 1,505,000.00 1,531.06 1,000.00 $ 1.0173156146
B4 2,309,000.00 2,348.98 1,000.00 $ 1.0173148549
B5 1,104,000.00 1,123.12 1,000.00 $ 1.0173188406
B6 1,104,155.62 1,123.27 1,000.00 $ 1.0173113098
R 100.00 0.00 1,000.00 $ 0.0000000000
XI. Single Certificate Interest Distribution
Class Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 36,995,000.00 215,804.17 1,000.00 $ 5.8333334234
A2 33,539,000.00 195,644.17 1,000.00 $ 5.8333334327
A3 65,263,000.00 337,338.92 1,000.00 $ 5.1689153119
A3-1 13,653,000.00 39,650.24 1,000.00 $ 2.9041412144
A3-2 51,610,000.00 297,688.68 1,000.00 $ 5.7680426274
A4 13,901,000.00 0.00 1,000.00 $ 0.0000000000
A5 13,852,000.00 86,575.00 1,000.00 $ 6.2500000000
A6 1,148,000.00 0.00 1,000.00 $ 0.0000000000
A7 20,000,000.00 116,666.67 1,000.00 $ 5.8333335000
AP 1,974,717.98 0.00 1,000.00 $ 0.0000000000
B1 5,520,000.00 31,978.86 1,000.00 $ 5.7932717391
B2 2,509,000.00 14,535.32 1,000.00 $ 5.7932722200
B3 1,505,000.00 8,718.87 1,000.00 $ 5.7932691030
B4 2,309,000.00 13,376.67 1,000.00 $ 5.7932741447
B5 1,104,000.00 6,395.77 1,000.00 $ 5.7932699275
B6 1,104,155.62 6,396.67 1,000.00 $ 5.7932685250
R 100.00 0.58 1,000.00 $ 5.8000000000
43
</TABLE>
<PAGE>
Creation Date : Wed Jan 15, 1997 02:03 PM SASC 1996-2 PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 8 Beginning Date : 12/01/1996 End Date : 12/31/1996
Determination Date : 01/17/1997 Remittance Date : 01/27/1997
XII. Delinquency Information for Due Period
PERIOD Number of Principal Balance
30 DAYS 3 1,194,600.52
60 DAYS 1 356,437.71
90+ DAYS 1 199,679.98
TOTAL 5 1,750,718.21
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
XIII. Book Value of REO For Due Period $ 0.00
XIV. Realized Losses
GROUP Amount
MORTGAGE GROUP ONE 0.00
XV. Number of Loans
GROUP MORTGAGE GROUP ONE
Beginning Loan Number 615
Loans Paid Off 3
Ending Loan Number 612
XVI. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 4,014,480.00
Bankrupcy 100,000.00
Fraud Loss 2,668,261.00
XVII. Mortgage Loan Substitutions
Deleted Loans 0.00
Substituted Loans 0.00
