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) : April 25, 1996
STRUCTURED ASSET SECURITIES CORPORATION (as depositor under the
Trust Agreement, dated as of April 1, 1996, providing for the
issuance of Structured Asset Securities Corporation Mortgage
Pass-Through Certificates, Series GreenPoint 1996-A)
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 29
consecutively numbered pages.
<PAGE>
Item 5. Other Events.
- ------- -------------
On May 28, 1996, June 25, 1996, July 25, 1996, August 25, 1996 and
September 25, 1996 distributions were made to the Certificateholders.
Specific information with respect to the distributions is filed as
Exhibits 99.1, and 99.2, 99.3, 99.4 and 99.5 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 May 28, 1996 filed as
Exhibit 99.1 hereto.
Statement to Certificateholders on June 25, 1996 filed as
Exhibit 99.2 hereto.
Statement to Certificateholders on July 25, 1996 filed as
Exhibit 99.3 hereto.
Statement to Certificateholders on August 25, 1996 filed as
Exhibit 99.4 hereto.
Statement to Certificateholders on September 25, 1996 filed as
Exhibit 99.5 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-A
Date: APRIL 10, 1997 By: /s/ Prue Larocca
---------------------
Prue Larocca
Vice President
3
<PAGE>
INDEX TO EXHIBITS
- -----------------
Exhibit
Number Description of Exhibits Page
------ -------------------------------------- ----
99.1 Monthly Certificateholder Statement on 5
May 28, 1996.
99.2 Monthly Certificateholder Statement on 10
June 25, 1996.
99.3 Monthly Certificateholder Statement on 15
July 25, 1996
99.4 Monthly Certificateholder Statement on 20
August 25, 1996.
99.5 Monthly Certificateholder Statement on 25
September 25, 1996
4
<PAGE>
Exhibit 99.1
Monthly Certificateholder Statement on May 28, 1996
5
<PAGE>
<TABLE>
Creation Date : Tue May 28, 1996 02:53 PM SASC 1996-A PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 04/02/1996 End Date : 04/30/1996
Determination Date : 05/15/1996 Remittance Date : 05/28/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A
I. Cash Received
<S> <C> <C> <C>
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Scheduled Prin 73,051.24 65,708.46 138,759.70
Prepayment Prin 61,908.62 227.83 62,136.45
Payoff Prin 577,090.37 82,934.29 660,024.66
Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Scheduled Int 877,250.96 146,885.97 1,024,136.93
TOTAL 1,589,301.19 295,756.55 1,885,057.74
II. Pool Balance
Beginning Balance 123,864,680.29 21,732,632.25 145,597,312.54
Scheduled Prin 73,051.24 65,708.46 138,759.70
Prepay Prin 61,908.62 227.83 62,136.45
Payoff Prin 577,090.37 82,934.29 660,024.66
Other 0.00 0.00 0.00
Ending Balance 123,152,630.06 21,583,761.67 144,736,391.73
III. Servicing Advances
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Current Advances 0.00 0.00 0.00
IV. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
A1 120,147,800.00 8.49880000% $ 850,926.77 $ 0.00 $ 850,926.77
R1 100.00 8.49880000% $ 0.71 $ 0.00 $ 0.71
R2 100.00 8.49880000% $ 0.71 $ 0.00 $ 0.71
TOTAL 120,148,000.00 $ 850,928.19 $ 0.00 $ 850,928.19
A2 21,080,000.00 8.11053000% $ 142,474.98 $ 0.00 $ 142,474.98
TOTAL 21,080,000.00 $ 142,474.98 $ 0.00 $ 142,474.98
V. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
TOTAL 0.00 $ 0.00 $ 0.00 $ 0.00
B1 1,821,000.00 0.00000000% $ 12,808.92 $ 0.00 $ 12,808.92
B2 728,000.00 0.00000000% $ 5,120.75 $ 0.00 $ 5,120.75
B3 728,000.00 0.00000000% $ 5,120.75 $ 0.00 $ 5,120.75
B4 437,000.00 0.00000000% $ 3,073.86 $ 0.00 $ 3,073.86
B5 291,000.00 0.00000000% $ 2,046.90 $ 0.00 $ 2,046.90
B6 364,312.54 0.00000000% $ 2,562.58 $ 0.00 $ 2,562.58
TOTAL 4,369,312.54 $ 30,733.76 $ 0.00 $ 30,733.76
6
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue May 28, 1996 02:53 PM SASC 1996-A PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 04/02/1996 End Date : 04/30/1996
Determination Date : 05/15/1996 Remittance Date : 05/28/1996
VI. Principal to Certificateholders
<S> <C> <C> <C> <C>
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 120,147,800.00 709,858.26 119,437,941.74 0.9940917914
R1 100.00 0.00 100.00 1.0000000000
R2 100.00 0.00 100.00 1.0000000000
TOTAL 120,148,000.00 709,858.26 119,438,141.74
A2 21,080,000.00 146,897.35 20,933,102.65 0.9930314350
TOTAL 21,080,000.00 146,897.35 20,933,102.65
VII. Principal to Certificateholders
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
TOTAL 0.00 0.00 0.00
B1 1,821,000.00 4,165.20 1,816,834.80 0.9977126853
B2 728,000.00 0.00 728,000.00 1.0000000000
B3 728,000.00 0.00 728,000.00 1.0000000000
B4 437,000.00 0.00 437,000.00 1.0000000000
B5 291,000.00 0.00 291,000.00 1.0000000000
B6 364,312.54 0.00 364,312.54 1.0000000000
TOTAL 4,369,312.54 4,165.20 4,365,147.34
VIII. Single Certificate Interest Distribution
TRANCH Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 120,147,800.00 850,926.77 1,000.00 $ 7.0823333428
R1 100.00 0.71 1,000.00 $ 7.1000000000
R2 100.00 0.71 1,000.00 $ 7.1000000000
TOTAL 120,148,000.00 850,928.19
A2 21,080,000.00 142,474.98 1,000.00 $ 6.7587751423
TOTAL 21,080,000.00 142,474.98
IX. Single Certificate Interest Distribution
TRANCH_COMPONENT Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 12,808.92 1,000.00 $ 7.0340030000
B2 728,000.00 5,120.75 1,000.00 $ 7.0339973000
B3 728,000.00 5,120.75 1,000.00 $ 7.0339973000
B4 437,000.00 3,073.86 1,000.00 $ 7.0340046000
B5 291,000.00 2,046.90 1,000.00 $ 7.0340206000
B6 364,312.54 2,562.58 1,000.00 $ 7.0340154000
TOTAL 4,369,312.54 30,733.76
7
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue May 28, 1996 02:53 PM SASC 1996-A PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 04/02/1996 End Date : 04/30/1996
Determination Date : 05/15/1996 Remittance Date : 05/28/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C> <C>
TRANCH Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 120,147,800.00 709,858.26 1,000.00 $ 5.9082085565
R1 100.00 0.00 1,000.00 $ 0.0000000000
R2 100.00 0.00 1,000.00 $ 0.0000000000
TOTAL 120,148,000.00 709,858.26
A2 21,080,000.00 146,897.35 1,000.00 $ 6.9685649905
TOTAL 21,080,000.00 146,897.35
XI. Single Certificate Principal Distribution
TRANCH_COMPONENT Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 4,165.20 1,000.00 $ 2.2873147000
B2 728,000.00 0.00 1,000.00 $ 0.0000000000
B3 728,000.00 0.00 1,000.00 $ 0.0000000000
B4 437,000.00 0.00 1,000.00 $ 0.0000000000
B5 291,000.00 0.00 1,000.00 $ 0.0000000000
B6 364,312.54 0.00 1,000.00 $ 0.0000000000
TOTAL 4,369,312.54 4,165.20
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 96.9994026697% 120,148,000.00 100.0000000000%
SUBORD 3.0005973303% 3,716,680.29 0.0000000000%
A 96.9969940020% 21,080,000.00 100.0000000000%
SUBORD 3.0030059980% 652,632.25 0.0000000000%
XIII. Servicing Fee
GRP Amount
MORTGAGE GROUP ONE 25,805.14
MORTGAGE GROUP TWO 4,527.63
TOTAL 30,332.77
XIV. Delinquency Information for Due Period
PERIOD Number Principal Balance
30 DAYS 1 107,807.34
60 DAYS 0 0.00
90+ DAYS 0 0.00
TOTAL 1 107,807.34
8
</TABLE>
<PAGE>
Creation Date : Tue May 28, 1996 02:53 PM SASC 1996-A PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 1 Beginning Date : 04/02/1996 End Date : 04/30/1996
Determination Date : 05/15/1996 Remittance Date : 05/28/1996
XV. Realized Losses
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount 0.00 0.00
Total Amount 0.00 0.00
XVI. Book Value REO
GRP Principal Amount
MORTGAGE GROUP ONE 0.00
MORTGAGE GROUP TWO 0.00
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 728,000.00
Remaining Amt 728,000.00
Bankrupcy 100,000.00
Remaining Amt 100,000.00
Fraud Loss 1,455,973.00
Remaining Amt 1,455,973.00
XVIII. Number of Loans
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number 1087 189
Loans Paid Off 2 1
Ending Loan Number 1085 188
XIX. Residual Payment
Amount 0.00 0.00
XX. Mortgage Loan Substitutions
Deleted Loans 0.00 0.00
Substituted Loans 0.00 0.00
9
<PAGE>
Exhibit 99.2
Monthly Certificateholder Statement on June 25, 1996
10
<PAGE>
<TABLE>
Creation Date : Mon Jun 24, 1996 02:07 PM SASC 1996-A PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 05/01/1996 End Date : 05/31/1996
Determination Date : 06/13/1996 Remittance Date : 06/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A
I. Cash Received
<S> <C> <C> <C>
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Scheduled Prin 75,999.13 66,314.29 142,313.42
Prepayment Prin 73,379.90 3,154.87 76,534.77
Payoff Prin 788,106.03 649,220.93 1,437,326.96
Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Scheduled Int 872,342.84 145,423.98 1,017,766.82
TOTAL 1,809,827.90 864,114.07 2,673,941.97
II. Pool Balance
Beginning Balance 123,152,630.06 21,583,761.67 144,736,391.73
Scheduled Prin 75,999.13 66,314.29 142,313.42
Prepay Prin 73,379.90 3,154.87 76,534.77
Payoff Prin 788,106.03 649,220.93 1,437,326.96
Other 0.00 0.00 0.00
Ending Balance 122,215,145.00 20,865,071.58 143,080,216.58
III. Servicing Advances
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Current Advances 0.00 0.00 0.00
IV. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
A1 119,437,941.74 8.50011400% $ 846,030.10 $ 0.00 $ 846,030.10
R1 100.00 8.50011400% $ 0.71 $ 0.00 $ 0.71
R2 100.00 8.50011400% $ 0.71 $ 0.00 $ 0.71
TOTAL 119,438,141.74 $ 846,031.52 $ 0.00 $ 846,031.52
A2 20,933,102.65 8.08518800% $ 141,040.06 $ 0.00 $ 141,040.06
TOTAL 20,933,102.65 $ 141,040.06 $ 0.00 $ 141,040.06
V. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
TOTAL 0.00 $ 0.00 $ 0.00 $ 0.00
B1 1,816,834.80 0.00000000% $ 12,776.05 $ 0.00 $ 12,776.05
B2 728,000.00 0.00000000% $ 5,119.14 $ 0.00 $ 5,119.14
B3 728,000.00 0.00000000% $ 5,119.14 $ 0.00 $ 5,119.14
B4 437,000.00 0.00000000% $ 3,072.89 $ 0.00 $ 3,072.89
B5 291,000.00 0.00000000% $ 2,046.25 $ 0.00 $ 2,046.25
B6 364,312.54 0.00000000% $ 2,561.77 $ 0.00 $ 2,561.77
TOTAL 4,365,147.34 $ 30,695.24 $ 0.00 $ 30,695.24
11
</TABLE>
<PAGE>
<TABLE>
Creation Date : Mon Jun 24, 1996 02:07 PM SASC 1996-A PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 05/01/1996 End Date : 05/31/1996
Determination Date : 06/13/1996 Remittance Date : 06/25/1996
VI. Principal to Certificateholders
<S> <C> <C> <C> <C>
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 119,437,941.74 935,192.80 118,502,748.94 0.9863081050
R1 100.00 0.00 100.00 1.0000000000
R2 100.00 0.00 100.00 1.0000000000
TOTAL 119,438,141.74 935,192.80 118,502,948.94
A2 20,933,102.65 716,690.99 20,216,411.66 0.9590328112
TOTAL 20,933,102.65 716,690.99 20,216,411.66
VII. Principal to Certificateholders
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
TOTAL 0.00 0.00 0.00
B1 1,816,834.80 4,291.36 1,812,543.44 0.9953560901
B2 728,000.00 0.00 728,000.00 1.0000000000
B3 728,000.00 0.00 728,000.00 1.0000000000
B4 437,000.00 0.00 437,000.00 1.0000000000
B5 291,000.00 0.00 291,000.00 1.0000000000
B6 364,312.54 0.00 364,312.54 1.0000000000
TOTAL 4,365,147.34 4,291.36 4,360,855.98
VIII. Single Certificate Interest Distribution
TRANCH Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 120,147,800.00 846,030.10 1,000.00 $ 7.0415779565
R1 100.00 0.71 1,000.00 $ 7.1000000000
R2 100.00 0.71 1,000.00 $ 7.1000000000
TOTAL 120,148,000.00 846,031.52
A2 21,080,000.00 141,040.06 1,000.00 $ 6.6907049336
TOTAL 21,080,000.00 141,040.06
IX. Single Certificate Interest Distribution
TRANCH_COMPONENT Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 12,776.05 1,000.00 $ 7.0159528000
B2 728,000.00 5,119.14 1,000.00 $ 7.0317857000
B3 728,000.00 5,119.14 1,000.00 $ 7.0317857000
B4 437,000.00 3,072.89 1,000.00 $ 7.0317849000
B5 291,000.00 2,046.25 1,000.00 $ 7.0317869000
B6 364,312.54 2,561.77 1,000.00 $ 7.0317920000
TOTAL 4,369,312.54 30,695.24
12
</TABLE>
<PAGE>
<TABLE>
Creation Date : Mon Jun 24, 1996 02:07 PM SASC 1996-A PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 05/01/1996 End Date : 05/31/1996
Determination Date : 06/13/1996 Remittance Date : 06/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C> <C>
TRANCH Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 120,147,800.00 935,192.80 1,000.00 $ 7.7836864262
R1 100.00 0.00 1,000.00 $ 0.0000000000
R2 100.00 0.00 1,000.00 $ 0.0000000000
TOTAL 120,148,000.00 935,192.80
A2 21,080,000.00 716,690.99 1,000.00 $ 33.9986238140
TOTAL 21,080,000.00 716,690.99
XI. Single Certificate Principal Distribution
TRANCH_COMPONENT Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 4,291.36 1,000.00 $ 2.3565953000
B2 728,000.00 0.00 1,000.00 $ 0.0000000000
B3 728,000.00 0.00 1,000.00 $ 0.0000000000
B4 437,000.00 0.00 1,000.00 $ 0.0000000000
B5 291,000.00 0.00 1,000.00 $ 0.0000000000
B6 364,312.54 0.00 1,000.00 $ 0.0000000000
TOTAL 4,369,312.54 4,291.36
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 96.9838335420% 119,438,141.74 100.0000000000%
SUBORD 3.0161664580% 3,714,488.32 0.0000000000%
A 96.9854234403% 20,933,102.65 100.0000000000%
SUBORD 3.0145765597% 650,659.02 0.0000000000%
XIII. Servicing Fee
GRP Amount
MORTGAGE GROUP ONE 25,574.58
MORTGAGE GROUP TWO 4,951.57
TOTAL 30,526.15
XIV. Delinquency Information for Due Period
PERIOD Number Principal Balance
30 DAYS 22 2,701,549.65
60 DAYS 1 71,864.81
90+ DAYS 0 0.00
TOTAL 23 2,773,414.46
13
</TABLE>
<PAGE>
Creation Date : Mon Jun 24, 1996 02:07 PM SASC 1996-A PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 2 Beginning Date : 05/01/1996 End Date : 05/31/1996
Determination Date : 06/13/1996 Remittance Date : 06/25/1996
XV. Realized Losses
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount 0.00 0.00
Total Amount 0.00 0.00
XVI. Book Value REO
GRP Principal Amount
MORTGAGE GROUP ONE 0.00
MORTGAGE GROUP TWO 0.00
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 728,000.00
Remaining Amt 728,000.00
Bankrupcy 100,000.00
Remaining Amt 100,000.00
Fraud Loss 1,455,973.00
Remaining Amt 1,455,973.00
XVIII. Number of Loans
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number 1085 188
Loans Paid Off 3 1
Ending Loan Number 1082 187
XIX. Residual Payment
Amount 0.00 0.00
XX. Mortgage Loan Substitutions
Deleted Loans 0.00 0.00
Substituted Loans 0.00 0.00
14
<PAGE>
Exhibit 99.3
Monthly Certificateholder Statement on July 25, 1996
15
<PAGE>
<TABLE>
Creation Date : Wed Jul 10, 1996 11:43 AM SASC 1996-A PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/15/1996 Remittance Date: 07/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A
I. Cash Received
<S> <C> <C> <C>
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Scheduled Prin 76,898.20 64,990.29 141,888.49
Prepayment Prin 68,695.05 53,392.81 122,087.86
Payoff Prin 257,356.32 0.00 257,356.32
Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Scheduled Int 865,225.56 141,238.62 1,006,464.18
TOTAL 1,268,175.13 259,621.72 1,527,796.85
II. Pool Balance
Beginning Balance 122,215,145.00 20,865,071.58 143,080,216.58
Scheduled Prin 76,898.20 64,990.29 141,888.49
Prepay Prin 68,695.05 53,392.81 122,087.86
Payoff Prin 257,356.32 0.00 257,356.32
Other 0.00 0.00 0.00
Ending Balance 121,812,195.43 20,746,688.48 142,558,883.91
III. Servicing Advances
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Current Advances 0.00 0.00 0.00
IV. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
A1 118,502,748.94 8.49541000% $ 838,941.20 $ 0.00 $ 838,941.20
R1 100.00 8.49541000% $ 0.71 $ 0.00 $ 0.71
R2 100.00 8.49541000% $ 0.71 $ 0.00 $ 0.71
TOTAL 118,502,948.94 $ 838,942.62 $ 0.00 $ 838,942.62
A2 20,216,411.66 8.12297000% $ 136,847.75 $ 0.00 $ 136,847.75
TOTAL 20,216,411.66 $ 136,847.75 $ 0.00 $ 136,847.75
V. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
TOTAL 0.00 $ 0.00 $ 0.00 $ 0.00
B1 1,812,543.44 0.00000000% $ 12,748.73 $ 0.00 $ 12,748.73
B2 728,000.00 0.00000000% $ 5,120.13 $ 0.00 $ 5,120.13
B3 728,000.00 0.00000000% $ 5,120.13 $ 0.00 $ 5,120.13
B4 437,000.00 0.00000000% $ 3,073.49 $ 0.00 $ 3,073.49
B5 291,000.00 0.00000000% $ 2,046.65 $ 0.00 $ 2,046.65
B6 364,312.54 0.00000000% $ 2,562.26 $ 0.00 $ 2,562.26
TOTAL 4,360,855.98 $ 30,671.39 $ 0.00 $ 30,671.39
16
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Jul 10, 1996 11:43 AM SASC 1996-A PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/15/1996 Remittance Date : 07/25/1996
VI. Principal to Certificateholders
<S> <C> <C> <C> <C>
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 118,502,748.94 400,613.84 118,102,135.10 0.9829737631
R1 100.00 0.00 100.00 1.0000000000
R2 100.00 0.00 100.00 1.0000000000
TOTAL 118,502,948.94 400,613.84 118,102,335.10
A2 20,216,411.66 116,362.66 20,100,049.00 0.9535127609
TOTAL 20,216,411.66 116,362.66 20,100,049.00
VII. Principal to Certificateholders
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
TOTAL 0.00 0.00 0.00
B1 1,812,543.44 -3,116.58 1,815,660.02 0.9970675563
B2 728,000.00 2,134.81 725,865.19 0.9970675687
B3 728,000.00 2,134.81 725,865.19 0.9970675687
B4 437,000.00 1,281.47 435,718.53 0.9970675744
B5 291,000.00 853.34 290,146.66 0.9970675601
B6 364,312.54 1,068.32 363,244.22 0.9970675728
TOTAL 4,360,855.98 4,356.17 4,356,499.81
VIII. Single Certificate Interest Distribution
TRANCH Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 120,147,800.00 838,941.20 1,000.00 $ 6.9825764600
R1 100.00 0.71 1,000.00 $ 7.1000000000
R2 100.00 0.71 1,000.00 $ 7.1000000000
TOTAL 120,148,000.00 838,942.62
A2 21,080,000.00 136,847.75 1,000.00 $ 6.4918287476
TOTAL 21,080,000.00 136,847.75
IX. Single Certificate Interest Distribution
TRANCH_COMPONENT Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 12,748.73 1,000.00 $ 7.0009500274
B2 728,000.00 5,120.13 1,000.00 $ 7.0331456044
B3 728,000.00 5,120.13 1,000.00 $ 7.0331456044
B4 437,000.00 3,073.49 1,000.00 $ 7.0331578947
B5 291,000.00 2,046.65 1,000.00 $ 7.0331615120
B6 364,312.54 2,562.26 1,000.00 $ 7.0331369873
TOTAL 4,369,312.54 30,671.39
17
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Jul 10, 1996 11:43 AM SASC 1996-A PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/15/1996 Remittance Date : 07/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C> <C>
TRANCH Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 120,147,800.00 400,613.84 1,000.00 $ 3.3343418689
R1 100.00 0.00 1,000.00 $ 0.0000000000
R2 100.00 0.00 1,000.00 $ 0.0000000000
TOTAL 120,148,000.00 400,613.84
A2 21,080,000.00 116,362.66 1,000.00 $ 5.5200502846
TOTAL 21,080,000.00 116,362.66
XI. Single Certificate Principal Distribution
TRANCH_COMPONENT Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 -3,116.58 1,000.00 $-1.7114662273
B2 728,000.00 2,134.81 1,000.00 $ 2.9324313187
B3 728,000.00 2,134.81 1,000.00 $ 2.9324313187
B4 437,000.00 1,281.47 1,000.00 $ 2.9324256293
B5 291,000.00 853.34 1,000.00 $ 2.9324398625
B6 364,312.54 1,068.32 1,000.00 $ 2.9324271956
TOTAL 4,369,312.54 4,356.17
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 96.9625727973% 118,502,948.94 100.0000000000%
SUBORD 3.0374272027% 3,712,196.06 0.0000000000%
A 96.8911684893% 20,216,411.66 100.0000000000%
SUBORD 3.1088315107% 648,659.92 0.0000000000%
XIII. Servicing Fee
GRP Amount
MORTGAGE GROUP ONE 22,458.11
MORTGAGE GROUP TWO 4,050.58
TOTAL 26,508.69
XIV. Delinquency Information for Due Period
XV. Realized Losses
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount 0.00 0.00
Total Amount 0.00 0.00
XVI. Book Value REO
GRP Principal Amount
MORTGAGE GROUP ONE 0.00
MORTGAGE GROUP TWO 0.00
18
</TABLE>
<PAGE>
Creation Date : Wed Jul 10, 1996 11:43 AM SASC 1996-A PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 3 Beginning Date : 06/01/1996 End Date : 06/30/1996
Determination Date : 07/15/1996 Remittance Date : 07/25/1996
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 728,000.00
Remaining Amt 728,000.00
Bankrupcy 100,000.00
Remaining Amt 100,000.00
Fraud Loss 1,455,973.00
Remaining Amt 1,455,973.00
XVIII. Number of Loans
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number 1082 187
Loans Paid Off 3 0
Ending Loan Number 1079 187
XIX. Residual Payment
Amount 2.42 0.00
XX. Mortgage Loan Substitutions
Deleted Loans 0.00 0.00
Substituted Loans 0.00 0.00
19
<PAGE>
Exhibit 99.4
Monthly Certificateholder Statement on August 25, 1996
20
<PAGE>
<TABLE>
Creation Date : Tue Aug 20, 1996 09:48 AM SASC 1996-A PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/14/1996 Remittance Date : 08/26/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A
I. Cash Received
<S> <C> <C> <C>
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Scheduled Prin 77,816.41 65,822.15 143,638.56
Prepayment Prin 35,919.66 45,409.85 81,329.51
Payoff Prin 263,329.28 361,107.27 624,436.55
Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Scheduled Int 862,349.60 140,431.38 1,002,780.98
TOTAL 1,239,414.95 612,770.65 1,852,185.60
II. Pool Balance
Beginning Balance 121,812,195.43 20,746,688.48 142,558,883.91
Scheduled Prin 77,816.41 65,822.15 143,638.56
Prepay Prin 35,919.66 45,409.85 81,329.51
Payoff Prin 263,329.28 361,107.27 624,436.55
Other 0.00 0.00 0.00
Ending Balance 121,435,130.08 20,274,349.21 141,709,479.29
III. Servicing Advances
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Current Advances 0.00 0.00 0.00
IV. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
A1 118,102,135.10 8.49518000% $ 836,082.41 $ 0.00 $ 836,082.41
R1 100.00 8.49518000% $ 0.71 $ 0.00 $ 0.71
R2 100.00 8.49518000% $ 0.71 $ 0.00 $ 0.71
TOTAL 118,102,335.10 $ 836,083.83 $ 0.00 $ 836,083.83
A2 20,100,049.00 8.12263000% $ 136,054.38 $ 0.00 $ 136,054.38
TOTAL 20,100,049.00 $ 136,054.38 $ 0.00 $ 136,054.38
V. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
TOTAL 0.00 $ 0.00 $ 0.00 $ 0.00
B1 1,815,660.02 0.00000000% $ 12,769.97 $ 0.00 $ 12,769.97
B2 725,865.19 0.00000000% $ 5,105.18 $ 0.00 $ 5,105.18
B3 725,865.19 0.00000000% $ 5,105.18 $ 0.00 $ 5,105.18
B4 435,718.53 0.00000000% $ 3,064.51 $ 0.00 $ 3,064.51
B5 290,146.66 0.00000000% $ 2,040.67 $ 0.00 $ 2,040.67
B6 363,244.22 0.00000000% $ 2,554.78 $ 0.00 $ 2,554.78
TOTAL 4,356,499.81 $ 30,640.29 $ 0.00 $ 30,640.29
21
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Aug 20, 1996 09:48 AM SASC 1996-A PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/14/1996 Remittance Date : 08/26/1996
VI. Principal to Certificateholders
<S> <C> <C> <C> <C>
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 118,102,135.10 374,695.41 117,727,439.69 0.9798551425
R1 100.00 0.00 100.00 1.0000000000
R2 100.00 0.00 100.00 1.0000000000
TOTAL 118,102,335.10 374,695.41 117,727,639.69
A2 20,100,049.00 470,287.70 19,629,761.30 0.9312030977
TOTAL 20,100,049.00 470,287.70 19,629,761.30
VII. Principal to Certificateholders
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
TOTAL 0.00 0.00 0.00
B1 1,815,660.02 1,842.74 1,813,817.28 0.9960556178
B2 725,865.19 736.70 725,128.49 0.9960556181
B3 725,865.19 736.70 725,128.49 0.9960556181
B4 435,718.53 442.22 435,276.31 0.9960556293
B5 290,146.66 294.48 289,852.18 0.9960556014
B6 363,244.22 368.67 362,875.55 0.9960556120
TOTAL 4,356,499.81 4,421.51 4,352,078.30
VIII. Single Certificate Interest Distribution
TRANCH Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 120,147,800.00 836,082.41 1,000.00 $ 6.9587825162
R1 100.00 0.71 1,000.00 $ 7.1000000000
R2 100.00 0.71 1,000.00 $ 7.1000000000
TOTAL 120,148,000.00 836,083.83
A2 21,080,000.00 136,054.38 1,000.00 $ 6.4541925996
TOTAL 21,080,000.00 136,054.38
IX. Single Certificate Interest Distribution
TRANCH_COMPONENT Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 12,769.97 1,000.00 $ 7.0126139484
B2 728,000.00 5,105.18 1,000.00 $ 7.0126098901
B3 728,000.00 5,105.18 1,000.00 $ 7.0126098901
B4 437,000.00 3,064.51 1,000.00 $ 7.0126086957
B5 291,000.00 2,040.67 1,000.00 $ 7.0126116838
B6 364,312.54 2,554.78 1,000.00 $ 7.0126051659
TOTAL 4,369,312.54 30,640.29
22
</TABLE>
<PAGE>
<TABLE>
Creation Date : Tue Aug 20, 1996 09:48 AM SASC 1996-A PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/14/1996 Remittance Date : 08/26/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C> <C>
TRANCH Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 120,147,800.00 374,695.41 1,000.00 $ 3.1186206489
R1 100.00 0.00 1,000.00 $ 0.0000000000
R2 100.00 0.00 1,000.00 $ 0.0000000000
TOTAL 120,148,000.00 374,695.41
A2 21,080,000.00 470,287.70 1,000.00 $ 22.3096631879
TOTAL 21,080,000.00 470,287.70
XI. Single Certificate Principal Distribution
TRANCH_COMPONENT Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 1,842.74 1,000.00 $ 1.0119384953
B2 728,000.00 736.70 1,000.00 $ 1.0119505495
B3 728,000.00 736.70 1,000.00 $ 1.0119505495
B4 437,000.00 442.22 1,000.00 $ 1.0119450801
B5 291,000.00 294.48 1,000.00 $ 1.0119587629
B6 364,312.54 368.67 1,000.00 $ 1.0119607741
TOTAL 4,369,312.54 4,421.51
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 96.9544426017% 118,102,335.10 100.0000000000%
SUBORD 3.0455573983% 3,709,860.33 0.0000000000%
A 96.8831677372% 20,100,049.00 100.0000000000%
SUBORD 3.1168322628% 646,639.48 0.0000000000%
XIII. Servicing Fee
GRP Amount
MORTGAGE GROUP ONE 27,721.15
MORTGAGE GROUP TWO 4,936.16
TOTAL 32,657.31
XIV. Delinquency Information for Due Period
PERIOD Number Principal Balance
30 DAYS 36 4,537,989.61
60 DAYS 6 396,656.03
90+ DAYS 3 329,197.45
TOTAL 45 5,263,843.09
23
</TABLE>
<PAGE>
Creation Date : Tue Aug 20, 1996 09:48 AM SASC 1996-A PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 4 Beginning Date : 07/01/1996 End Date : 07/31/1996
Determination Date : 08/14/1996 Remittance Date : 08/26/1996
XV. Realized Losses
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount 0.00 0.00
Total Amount 0.00 0.00
XVI. Book Value REO
GRP Principal Amount
MORTGAGE GROUP ONE 0.00
MORTGAGE GROUP TWO 0.00
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 728,000.00
Remaining Amt 728,000.00
Bankrupcy 100,000.00
Remaining Amt 100,000.00
Fraud Loss 1,455,973.00
Remaining Amt 1,455,973.00
XVIII. Number of Loans
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number 1079 187
Loans Paid Off 2 3
Ending Loan Number 1077 184
XIX. Residual Payment
Amount 2.48 0.00
XX. Mortgage Loan Substitutions
Deleted Loans 0.00 0.00
Substituted Loans 0.00 0.00
24
<PAGE>
Exhibit 99.5
Monthly Certificateholder Statement on September 25, 1996
25
<PAGE>
<TABLE>
Creation Date : Wed Sep 18, 1996 01:55 PM SASC 1996-A PAGE No. 001
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/13/1996 Remittance Date : 09/25/1996
STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A
I. Cash Received
<S> <C> <C> <C>
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Scheduled Prin 78,488.85 65,510.38 143,999.23
Prepayment Prin 39,793.49 101,919.55 141,713.04
Payoff Prin 604,713.18 210,700.27 815,413.45
Liquidation Proceeds 0.00 0.00 0.00
Insurance Proceeds 0.00 0.00 0.00
Scheduled Int 859,682.51 137,287.25 996,969.76
TOTAL 1,582,678.03 515,417.45 2,098,095.48
II. Pool Balance
Beginning Balance 121,435,130.08 20,274,349.21 141,709,479.29
Scheduled Prin 78,488.85 65,510.38 143,999.23
Prepay Prin 39,793.49 101,919.55 141,713.04
Payoff Prin 604,713.18 210,700.27 815,413.45
Other 0.00 0.00 0.00
Ending Balance 120,712,134.56 19,896,219.01 140,608,353.57
III. Servicing Advances
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO TOTAL
Current Advances 0.00 0.00 0.00
IV. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
A1 117,727,439.69 8.49521000% $ 833,432.77 $ 0.00 $ 833,432.77
R1 100.00 8.49521000% $ 0.71 $ 0.00 $ 0.71
R2 100.00 8.49521000% $ 0.71 $ 0.00 $ 0.71
TOTAL 117,727,639.69 $ 833,434.19 $ 0.00 $ 833,434.19
A2 19,629,761.30 8.12577000% $ 132,922.44 $ 0.00 $ 132,922.44
TOTAL 19,629,761.30 $ 132,922.44 $ 0.00 $ 132,922.44
V. Interest to Certificateholders
TRANCH_COMPONENT Beg. Balance Rate Schduled Int Shortfall Disbrsed Int
TOTAL 0.00 $ 0.00 $ 0.00 $ 0.00
B1 1,813,817.28 0.00000000% $ 12,757.92 $ 0.00 $ 12,757.92
B2 725,128.49 0.00000000% $ 5,100.37 $ 0.00 $ 5,100.37
B3 725,128.49 0.00000000% $ 5,100.37 $ 0.00 $ 5,100.37
B4 435,276.31 0.00000000% $ 3,061.62 $ 0.00 $ 3,061.62
B5 289,852.18 0.00000000% $ 2,038.75 $ 0.00 $ 2,038.75
B6 362,875.55 0.00000000% $ 2,552.38 $ 0.00 $ 2,552.38
TOTAL 4,352,078.30 $ 30,611.41 $ 0.00 $ 30,611.41
26
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Sep 18, 1996 01:55 PM SASC 1996-A PAGE No. 002
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/13/1996 Remittance Date : 09/25/1996
VI. Principal to Certificateholders
<S> <C> <C> <C> <C>
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
A1 117,727,439.69 720,599.21 117,006,840.48 0.9738575361
R1 100.00 0.00 100.00 1.0000000000
R2 100.00 0.00 100.00 1.0000000000
TOTAL 117,727,639.69 720,599.21 117,007,040.48
A2 19,629,761.30 376,047.41 19,253,713.89 0.9133640365
TOTAL 19,629,761.30 376,047.41 19,253,713.89
VII. Principal to Certificateholders
TRANCH_COMPONENT Beg. Balance Schduled Principal Ending Principal Cert. Factor
TOTAL 0.00 0.00 0.00
B1 1,813,817.28 1,866.74 1,811,950.54 0.9950304997
B2 725,128.49 746.30 724,382.19 0.9950304808
B3 725,128.49 746.30 724,382.19 0.9950304808
B4 435,276.31 447.98 434,828.33 0.9950305034
B5 289,852.18 298.32 289,553.86 0.9950304467
B6 362,875.55 373.46 362,502.09 0.9950305032
TOTAL 4,352,078.30 4,479.10 4,347,599.20
VIII. Single Certificate Interest Distribution
TRANCH Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
A1 120,147,800.00 833,432.77 1,000.00 $ 6.9367293450
R1 100.00 0.71 1,000.00 $ 7.1000000000
R2 100.00 0.71 1,000.00 $ 7.1000000000
TOTAL 120,148,000.00 833,434.19
A2 21,080,000.00 132,922.44 1,000.00 $ 6.3056185958
TOTAL 21,080,000.00 132,922.44
IX. Single Certificate Interest Distribution
TRANCH_COMPONENT Orig. Balance Sched. Interest Certificate Value Int.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 12,757.92 1,000.00 $ 7.0059967050
B2 728,000.00 5,100.37 1,000.00 $ 7.0060027473
B3 728,000.00 5,100.37 1,000.00 $ 7.0060027473
B4 437,000.00 3,061.62 1,000.00 $ 7.0059954233
B5 291,000.00 2,038.75 1,000.00 $ 7.0060137457
B6 364,312.54 2,552.38 1,000.00 $ 7.0060174157
TOTAL 4,369,312.54 30,611.41
27
</TABLE>
<PAGE>
<TABLE>
Creation Date : Wed Sep 18, 1996 01:55 PM SASC 1996-A PAGE No. 003
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/13/1996 Remittance Date : 09/25/1996
X. Single Certificate Principal Distribution
<S> <C> <C> <C> <C>
TRANCH Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
A1 120,147,800.00 720,599.21 1,000.00 $ 5.9976063648
R1 100.00 0.00 1,000.00 $ 0.0000000000
R2 100.00 0.00 1,000.00 $ 0.0000000000
TOTAL 120,148,000.00 720,599.21
A2 21,080,000.00 376,047.41 1,000.00 $ 17.8390611954
TOTAL 21,080,000.00 376,047.41
XI. Single Certificate Principal Distribution
TRANCH_COMPONENT Orig. Balance Sched. Principal Certificate Value Pr.Dist / Cert.
TOTAL 0.00 0.00
B1 1,821,000.00 1,866.74 1,000.00 $ 1.0251180670
B2 728,000.00 746.30 1,000.00 $ 1.0251373626
B3 728,000.00 746.30 1,000.00 $ 1.0251373626
B4 437,000.00 447.98 1,000.00 $ 1.0251258581
B5 291,000.00 298.32 1,000.00 $ 1.0251546392
B6 364,312.54 373.46 1,000.00 $ 1.0251088255
TOTAL 4,369,312.54 4,479.10
XII. Percentage Distribution
CLASS Scheduled Percenta Beginning Balance Prepayment Percent
A 96.9469375233% 117,727,639.69 100.0000000000%
SUBORD 3.0530624767% 3,707,490.39 0.0000000000%
A 96.8206727460% 19,629,761.30 100.0000000000%
SUBORD 3.1793272540% 644,587.91 0.0000000000%
XIII. Servicing Fee
GRP Amount
MORTGAGE GROUP ONE 26,454.13
MORTGAGE GROUP TWO 4,424.33
TOTAL 30,878.46
XIV. Delinquency Information for Due Period
PERIOD Number Principal Balance
30 DAYS 39 4,715,451.23
60 DAYS 7 731,346.92
90+ DAYS 2 195,176.52
TOTAL 48 5,641,974.67
FORECLOSR 0 0.00
TOTAL 0 0.00
REO 0 0.00
TOTAL 0 0.00
28
</TABLE>
<PAGE>
Creation Date : Wed Sep 18, 1996 01:55 PM SASC 1996-A PAGE No. 004
MONTHLY CERTIFICATE HOLDERS REPORT
----------------------------------
Due Period : 5 Beginning Date : 08/01/1996 End Date : 08/31/1996
Determination Date : 09/13/1996 Remittance Date : 09/25/1996
XV. Realized Losses
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount 0.00 0.00
Total Amount 0.00 0.00
XVI. Book Value REO
GRP Principal Amount
MORTGAGE GROUP ONE 0.00
MORTGAGE GROUP TWO 0.00
XVII. Covered Loss Amount Information
GROUP0 POOL TOTAL
Special Hazard 728,000.00
Remaining Amt 728,000.00
Bankrupcy 100,000.00
Remaining Amt 100,000.00
Fraud Loss 1,455,973.00
Remaining Amt 1,455,973.00
XVIII. Number of Loans
GRP MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number 1077 184
Loans Paid Off 6 2
Ending Loan Number 1071 182
XIX. Residual Payment
Amount 1.72 0.00
XX. Mortgage Loan Substitutions
Deleted Loans 0.00 0.00
Substituted Loans 0.00 0.00
29
