SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
Amendment No. 1
(Mark One)
| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] *
For the fiscal year ended December 31, 1995
| | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
Commission File No.: 33-76072-03
Securitized Asset Sales, Inc. Mortgage Pass-Through Certificates,
Series 1995-2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of pooling and servicing agreement)
State or other jurisdiction of incorporation or organization)
52-1945656
(I.R.S. Employer Identification No.)
c/o First Bank National Association
180 East Fifth Street
St. Paul MN 55101
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code (612)-244-6000
Securities registered pursuant to Section 12(b) of the Act: NONE
Securities registered pursuant to Section 12(g) of the Act: NONE
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes X No
* Previously paid with the Original Form 10-K.
This Amendment No. 1 on Form 10-K/A amends Item 14 of the original
Annual Report on Form 10-K (the "Original Form 10-K") filed on March 29,
1996, by Securitized Asset Services Corporation (the "Reporting Person"),
on behalf of Securitized Asset Sales, Inc., Mortgage Pass-Through
Certificates, Series 1995-2 Trust (the "Trust"), established pursuant
to a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") among Securitized Asset Sales, Inc. (the "Company"), as
depositor, a trustee and a master servicer (or, if applicable, a servicer)
and in some instances, a certificate administrator, pursuant to which the
Securitized Asset Sales, Inc., Mortgage Pass-Through Certificates, Series
1995-2 registered under the Securities Act of 1933 (the "Certificates")
were issued. Item 14 of the Original Form 10-K is amended to read in its
entirety as follows:
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) Exhibits
In accordance with the no action letter from the Office of Chief
Counsel of the Division of Corporate Finance, Securities and
Exchange Commission dated May 11, 1994 (the "No Action Letter"),
the following exhibits are or will be provided:
99.1 Annual Report of Independent Public Accountants as to
master servicing activities or servicing activities, as
applicable, of:
(a) Chase Manhattan Mortgage Corporation, as Servicer<F1>
99.2 Report of Management as to Compliance with Minimum
Servicing Standards
(a) Chase Manhattan Mortgage Corporation, as Servicer<F1>
99.3 Annual Statement of Compliance with obligations under the
Pooling and Servicing Agreement or servicing agreement, as
applicable, of:
(a) Chase Manahattan Mortgage Corporation, as Servicer<F1>
(b) On December 11, 1995, a report on Form 8-K was filed by the
Company in order to provide the Pooling and Servicing Agreement
for the Certificates.
On November 8, 1995, and December 6, 1995, reports on Form 8-K
were filed by the Company in order to provide
the statements for the monthly distributions to holders of the
Certificates. No other reports on Form 8-K have been filed
during the last quarter of the period covered by this report.
(c) Omitted pursuant to the No Action Letter.
(d) Omitted pursuant to the No Action Letter.
<F1> Filed herewith.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized:
SECURITIZED ASSET SALES, INC. MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 1995-2 TRUST
By: NORWEST BANK MINNESOTA, N.A.,
as Certificate Administrator
By: /s/Sherri J. Sharps, as attorney-in-fact
By: Sherri J. Sharps, as attorney-in-fact
Title: Vice President -- Securities Administration Services
Dated: August 30, 1996
EXHIBIT INDEX
Exhibit No.
99.1 Annual Report of Independent Public Accountants as to master
servicing activities or servicing activities, as applicable.
(a) Chase Manhattan Mortgage Corporation, as Servicer<F1>
99.2 Report of Management as to Compliance with Minimum Servicing
Standards
(a) Chase Manhattan Mortgage Corporation, as Servicer<F1>
99.3 Annual Statement of Compliance with obligations under the Pooling and
Servicing Agreement or servicing agreement, as applicable.
(a) Chase Manhattan Mortgage Corporation, as Servicer<F1>
<F1> Filed herewith.
Suite 2800 Telephone 813 223 7577
400 North Ashley Street
P. O. Box 2640
Tampa, FL 33601-2640
PRICE WATERHOUSE LLP (logo)
INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANT'S REPORT
TO THE STOCKHOLDER AND BOARD OF DIRECTORS OF
CHASE MANHATTAN MORTGAGE CORPORATION:
We have examined management's assertion
about Chase Manhattan Mortgage Corporation's
compliance with the minimum servicing standards
identified in the Mortgage Bankers Association of
America's UNIFORM SINGLE ATTESTATION PROGRAM FOR
MORTGAGE BANKERS (USAP) as of and for the year
ended December 31, 1995 included in the
accompanying management assertion (see
Exhibit I). Management is responsible for Chase
Manhattan Mortgage Corporation's compliance
with those minimum servicing standards. Our
responsibility is to express an opinion on
management's assertion about the entity's
compliance based on our examination.
Our examination was made in accordance with
standards established by the American Institute of
Certified Public Accountants and, accordingly,
included examining, on a test basis, evidence
about Chase Manhattan Mortgage Corporation's
compliance with minimum servicing standards
and performing such other procedures as we
considered necessary in the circumstances. We
believe that our examination provides a
reasonable basis for our opinion. Our examination
does not provide a legal determination on
Chase Manhattan Mortgage Corporation's compliance
with the minimum servicing standards.
In our opinion, management's assertion that
Chase Manhattan Mortgage Corporation complied
with the aforementioned minimum servicing
standards as of and for the year ended December 31
1995 is fairly stated, in all material respects.
/s/Price Waterhouse LLP
February 2, 1996
CHASE MANHATTAN MORTGAGE CORPORATION
4915 Independence Parkway
Tampa, Florida 33634
EXHIBIT I
(logo) CHASE
MANAGEMENT ASSERTION
As of and for the year ended December 31, 1995, Chase Manhattan Mortgage
Corporation has complied in all material respects with the minimum
servicing standards set forth in the Mortgage Bankers Association of
America's UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS. As of
and for this same period, Chase Manhattan Mortgage Corporation had in
effect fidelity bond and errors and omissions policies in the amount of
$200,000.000 and $65,000,000, respectively.
/s/Richard Mirro /s/Geoffrey Dreyer
Richard Mirro Geoffrey Dreyer
Chairman & Executive Vice President &
Chief Executive Officer Chief Operating Officer
/s/James Tireman /s/Rosalea Sheets
James Tireman Rosalea Sheets
Senior Vice President Senior Vice President
CHASE MANHATTAN MORTGAGE CORPORATION SUSAN K. MCCARTHY
4915 Independence Parkway Vice President
P. 0. Box 31123 / 33631-3123
Tampa, Florida 33634-7540
(logo)CHASE
March 20, 1996
SASCOR
5325 SPECTRUM DRIVE
FREDERICK, MD. 21702
ATTN: CHRIS MOORE
RE: Investor Number S40
Dear Investor:
This letter is in reference to the loans Chase Manhattan Mortgage
Corporation (CMMC) services on your behalf. Please accept this letter as
formal certification that all your loans have been serviced in compliance
with the Service Agreement in effect for your organization.
Enclosed is an Investor Survey, an Acknowledgement Letter, a return
envelope, the Tax and Insurance Certification, a CMMC Contact List, and
CMMC's 1995 audited Financial Statement, audited by Price Waterhouse.
Insurance certificates related to Errors and Omissions and Fidelity Bond
insurance are sent to you under separate cover following their respective
renewal dates (February 1 for Errors & Omissions and September 30 for
Fidelity Bond).
Please contact me if you have any questions (813) 881-2019.
Sincerely,
/s/Sue McCarthy
Sue McCarthy
Vice President
Investor Accounting
Enclosure
/certif/96tampa
