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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
February 3, 1998
Structured Asset Securities Corporation
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(Exact Name of Registrant as Specified in its Charter)
Delaware 33-99598 74-2440850
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
200 Vesey Street
New York, New York 10285
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 526-5594
No Change
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events./F1/
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Documents Incorporated By Reference
The consolidated financial statements of Ambac Assurance Corporation and
its subsidiaries as of December 31, 1996 and December 31, 1995, and for the
three-year period ended December 31 1996, included in the Current Report on
Form 8-K of AMBAC Inc. (which was filed with the Securities and Exchange
Commission on March 12, 1997) and the consolidated financial statements of
Ambac Assurance Corporation and its subsidiaries as of September 30, 1997,
and for the periods ended September 30, 1997 and September 30, 1996, included
in the Quarterly Report on Form 10-Q of Ambac Financial Group, Inc. for the
period ended September 30, 1997 (which was filed with the Securities and
Exchange Commission on November 14, 1997) are hereby incorporated by
reference in (i) this Current Report on Form 8-K; (ii) the registration
statement (No. 33-99598) of the Registrant (the "Prospectus"); and (iii) the
Prospectus Supplement dated February 3, 1998 of Structured Asset Securities
Corporation Mortgage Pass-Through Certificates, Series 1998-1, relating to
the Class A1, Class A2, Class R1 and Class R2 Certificates, and shall be
deemed to be part hereof and thereof.
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/F1/ Capitalized terms used but not otherwise defined herein shall have
the same meaning ascribed to them in the Prospectus.
Item 7. Financial Statements; Pro Forma Financial Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
23. Consent of Experts and Counsel
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
STRUCTURED ASSET SECURITIES
CORPORATION
By: /s/ Joseph Kelly
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Name: Joseph Kelly
Title: Vice President
Dated: February 5, 1998
EXHIBIT INDEX
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Exhibit No. Description Page No.
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23 Consent of Experts and Counsel 6
EXHIBIT 23 CONSENT OF EXPERTS AND COUNSEL
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement
(No. 33-99598) on Form S-3 of Structured Asset Securities Corporation (the
"Registrant") and in the Prospectus Supplement Series 1998-1 of the
Registrant (the "Prospectus Supplement"), included in Form 8-K of the
Registrant dated February 5, 1998, of our report dated January 27, 1998 on
the consolidated financial statements of Ambac Assurance Corporation
(formerly AMBAC Indemnity Corporation) as of December 31, 1996 and 1995, and
for each of the years in the three-year period ended December 31, 1996, which
report appears in the Form 8-K of Ambac Financial Group, Inc., (formerly
AMBAC Inc.) dated March 12, 1997 and to the reference to our firm under the
heading "Experts" in the Prospectus Supplement.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
New York, New York
February 5, 1998
