8-K 1 sai03bc4.txt JUNE 8K UNITED STATES 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, 2003 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-10 54-2114688 Pooling and Servicing Agreement) (Commission 54-2114689 (State or other File Number) 54-2114690 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On June 25, 2003 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-BC4 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC4 Trust, relating to the June 25, 2003 distribution. 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 INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC4 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 6/27/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC4 Trust, relating to the June 25, 2003 distribution.

~~SECURITIES~~Structured ~~AND~~Asset ~~EXCHANGE~~Investment ~~COMMISSION~~Loan Trust Mortgage Pass-Through Certificates Record Date: 5/31/03 Distribution Date: 6/25/03 SAIL Series: 2003-BC4 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution 1-A1 86358EBF2 SEN 1.44000% 246,749,000.00 305,968.76 3,033,636.72 1-A2 86358EBG0 SEN 1.93000% 183,309,000.00 294,821.98 0.00 2-A1 86358EBH8 SEN 1.44000% 159,631,000.00 197,942.44 3,284,549.19 2-A2 86358EBJ4 SEN 1.91000% 118,993,000.00 189,397.19 0.00 A-IO 86358EBK1 IO 6.00000% 0.00 1,359,680.00 0.00 M1 86358EBL9 MEZ 2.12000% 35,434,000.00 64,686.74 0.00 M2 86358EBM7 MEZ 3.32000% 37,082,000.00 106,013.32 0.00 M3 86358EBN5 MEZ 3.57000% 10,301,000.00 31,666.99 0.00 M4 86358EBP0 MEZ 4.57000% 12,361,000.00 48,643.97 0.00 M5 86358EBQ8 MEZ 4.82000% 7,004,000.00 29,070.49 0.00 B 86358EBR6 SEN 4.82000% 7,416,000.00 30,780.52 0.00 X SAI03BC4X SEN 0.00000% 5,769,270.40 1,946,339.19 0.00 P SAI03BC4P SEN 0.00000% 100.00 24,388.89 0.00 R SAI03B4R3 SEN 0.00000% 0.00 0.00 0.00 Totals 824,049,370.40 4,629,400.48 6,318,185.91

~~Washington~~Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A1 0.00 243,715,363.28 D3,339,605.C48 0. ~~20549~~00 1-A2 0.00 183,309,000.00 294,821.98 0.00 2-A1 0.00 156,346,450.81 3,482,491.63 0.00 2-A2 0.00 118,993,000.00 189,397.19 0.00 A-IO 0.00 0.00 1,359,680.00 0.00 M1 0.00 35,434,000.00 64,686.74 0.00 M2 0.00 37,082,000.00 106,013.32 0.00 M3 0.00 10,301,000.00 31,666.99 0.00 M4 0.00 12,361,000.00 48,643.97 0.00 M5 0.00 7,004,000.00 29,070.49 0.00 B 0.00 7,416,000.00 30,780.52 0.00 X 0.00 5,769,270.40 1,946,339.19 0.00 P 0.00 100.00 24,388.89 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 817,731,184.49 10,947,586.39 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~FORM~~Principal 8Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) 1-KA1 246,749,000.00 246,749,000.00 0.00 3,033,636.72 0.00 0.00 1-A2 183,309,000.00 183,309,000.00 0.00 0.00 0.00 0.00 2-A1 159,631,000.00 159,631,000.00 0.00 3,284,549.19 0.00 0.00 2-A2 118,993,000.00 118,993,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1 35,434,000.00 35,434,000.00 0.00 0.00 0.00 0.00 M2 37,082,000.00 37,082,000.00 0.00 0.00 0.00 0.00 M3 10,301,000.00 10,301,000.00 0.00 0.00 0.00 0.00 M4 12,361,000.00 12,361,000.00 0.00 0.00 0.00 0.00 M5 7,004,000.00 7,004,000.00 0.00 0.00 0.00 0.00 B 7,416,000.00 7,416,000.00 0.00 0.00 0.00 0.00 X 5,769,270.40 5,769,270.40 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 824,049,370.40 824,049,370.40 0.00 6,318,185.91 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~CURRENT~~Principal ~~REPORT~~Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution 1-A1 3,033,636.72 243,715,363.28 0.98770558 3,033,636.72 1-A2 0.00 183,309,000.00 1.00000000 0.00 2-A1 3,284,549.19 156,346,450.81 0.97942411 3,284,549.19 2-A2 0.00 118,993,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 35,434,000.00 1.00000000 0.00 M2 0.00 37,082,000.00 1.00000000 0.00 M3 0.00 10,301,000.00 1.00000000 0.00 M4 0.00 12,361,000.00 1.00000000 0.00 M5 0.00 7,004,000.00 1.00000000 0.00 B 0.00 7,416,000.00 1.00000000 0.00 X 0.00 5,769,270.40 1.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 6,318,185.91 817,731,184.49 0.99233276 6,318,185.91

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OROriginal 15Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (d2) OFAmount ~~THE~~Balance Distribution Distribution Accretion 1-A1 246,749,000.00 1000.00000000 0.00000000 12.29442356 0.00000000 1-A2 183,309,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A1 159,631,000.00 1000.00000000 0.00000000 20.57588557 0.00000000 2-A2 118,993,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 35,434,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 37,082,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 10,301,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 12,361,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 7,004,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 7,416,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 5,769,270.40 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are Per 1,000 Denomination

~~SECURITIES~~Principal ~~AND~~Distribution ~~EXCHANGE~~Factors ~~ACT~~Statement OF(continued) ~~1934~~Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A1 0.00000000 12.29442356 987.70557644 0.98770558 12.29442356 1-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A1 0.00000000 20.57588557 979.42411443 0.97942411 20.57588557 2-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Date~~Interest ofDistribution ~~Report~~Statement ~~(Date~~Beginning Payment of ~~earliest~~Original ~~event~~Current ~~reported)~~Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall 1-A1 246,749,000.00 1.44000% 246,749,000.00 305,968.76 0.00 0.00 1-A2 183,309,000.00 1.93000% 183,309,000.00 294,821.98 0.00 0.00 2-A1 159,631,000.00 1.44000% 159,631,000.00 197,942.44 0.00 0.00 2-A2 118,993,000.00 1.91000% 118,993,000.00 189,397.19 0.00 0.00 A-IO 0.00 6.00000% 271,936,000.00 1,359,680.00 0.00 0.00 M1 35,434,000.00 2.12000% 35,434,000.00 64,686.74 0.00 0.00 M2 37,082,000.00 3.32000% 37,082,000.00 106,013.32 0.00 0.00 M3 10,301,000.00 3.57000% 10,301,000.00 31,666.99 0.00 0.00 M4 12,361,000.00 4.57000% 12,361,000.00 48,643.97 0.00 0.00 M5 7,004,000.00 4.82000% 7,004,000.00 29,070.49 0.00 0.00 B 7,416,000.00 4.82000% 7,416,000.00 30,780.52 0.00 0.00 X 5,769,270.40 0.00000% 5,769,270.40 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 824,049,370.40 2,658,672.40 0.00 0.00

~~May~~Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance 1-A1 0.00 0.00 305,968.76 0.00 243,715,363.28 1-A2 0.00 0.00 294,821.98 0.00 183,309,000.00 2-A1 0.00 0.00 197,942.44 0.00 156,346,450.81 2-A2 0.00 0.00 189,397.19 0.00 118,993,000.00 A-IO 0.00 0.00 1,359,680.00 0.00 271,936,000.00 M1 0.00 0.00 64,686.74 0.00 35,434,000.00 M2 0.00 0.00 106,013.32 0.00 37,082,000.00 M3 0.00 0.00 31,666.99 0.00 10,301,000.00 M4 0.00 0.00 48,643.97 0.00 12,361,000.00 M5 0.00 0.00 29,070.49 0.00 7,004,000.00 B 0.00 0.00 30,780.52 ~~2003~~0.00 7,416,000.00 X 0.00 0.00 1,946,339.19 0.00 5,769,270.40 P 0.00 0.00 24,388.89 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,629,400.48 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~SECURITIES~~Factors ~~CORPORATION~~Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (as5) ~~Depositor~~Amount ~~under~~Rate ~~the~~Balance ~~Trust~~Interest ~~Agreement~~Shortfall Shortfall 1-A1 246,749,000.00 ~~dated~~1.44000% as1000.00000000 of1.24000000 ~~May~~0.00000000 0.00000000 1,-A2 ~~2003~~183,309,000.00 ~~providing~~1.93000% ~~for~~1000.00000000 ~~the~~1.60833336 ~~issuance~~0.00000000 of0.00000000 ~~Structured~~2-A1 ~~Asset~~159,631,000.00 ~~Investment~~1.44000% ~~Loan~~1000.00000000 ~~Trust~~1.24000000 ~~Mortgage~~0.00000000 ~~Pass~~0.00000000 2-~~Through~~A2 ~~Certificates~~118,993,000.00 ~~Series~~1.91000% ~~2003~~1000.00000000 1.59166665 0.00000000 0.00000000 A-~~BC4~~IO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 M1 35,434,000.00 2.12000% 1000.00000000 1.82555568 0.00000000 0.00000000 M2 37,082,000.00 3.32000% 1000.00000000 2.85888895 0.00000000 0.00000000 M3 10,301,000.00 3.57000% 1000.00000000 3.07416659 0.00000000 0.00000000 M4 12,361,000.00 4.57000% 1000.00000000 3.93527789 0.00000000 0.00000000 M5 7,004,000.00 4.82000% 1000.00000000 4.15055540 0.00000000 0.00000000 B 7,416,000.00 4.82000% 1000.00000000 4.15055556 0.00000000 0.00000000 X 5,769,270.40 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

~~Structured~~Interest ~~Asset~~Distribution ~~Securities~~Factors ~~Corporation~~ Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A1 0.00000000 0.00000000 1.24000000 0.00000000 987.70557644 1-A2 0.00000000 0.00000000 1.60833336 0.00000000 1000.00000000 2-A1 0.00000000 0.00000000 1.24000000 0.00000000 979.42411443 2-A2 0.00000000 0.00000000 1.59166665 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.82555568 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.85888895 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.07416659 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.93527789 0.00000000 1000.00000000 M5 0.00000000 0.00000000 4.15055540 0.00000000 1000.00000000 B 0.00000000 0.00000000 4.15055556 0.00000000 1000.00000000 X 0.00000000 0.00000000 337.36314214 0.00000000 1000.00000000 P 0.00000000 0.00000000 243888.90000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 11,303,645.02 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (~~Exact~~Servicer ~~Name~~Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) (0.65) Prepayment Penalties 0.00 Total Deposits 11,303,644.37 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of ~~Registrant~~Service asFee ~~Specified~~356,058.04 inPayment ~~its~~of ~~Charter~~Interest and Principal 10,947,586.33 Total Withdrawals (Pool Distribution Amount) 11,303,644.37 Ending Balance 0.00

Delaware	333-102489	74-2440850
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

~~745~~SERVICING ~~Seventh~~FEES ~~Avenue~~Gross Servicing Fee 343,354.18 ~~7th~~Credit ~~Floor~~Risk ~~New~~Manager's ~~York~~Fee 10,300.62 ~~New~~Wells ~~York~~Fargo ~~10019~~Bank ~~(Zip~~Minnesota, ~~Code)~~NA ~~(Address~~2,403.24 ofSupported ~~Principal~~Prepayment/Curtailment ~~Executive~~Interest ~~Offices)~~Shortfall 0.00 Net Servicing Fee 356,058.04

~~Registrant’s~~OTHER ~~telephone~~ACCOUNTS ~~number~~Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~including~~0.00 ~~area~~0.00 ~~code: (212)~~1,000.00 ~~526-7000~~Financial Guaranty 0.00 0.00 0.00 0.00

~~None~~ LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 62 0 0 0 62 9,715,777.98 0.00 0.00 0.00 9,715,777.98 60 Days 13 0 0 0 13 1,245,665.65 0.00 0.00 0.00 1,245,665.65 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 75 0 0 0 75 10,961,443.63 0.00 0.00 0.00 10,961,443.63 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.281786% 0.000000% 0.000000% 0.000000% 1.281786% 1.187393% 0.000000% 0.000000% 0.000000% 1.187393% 60 Days 0.268762% 0.000000% 0.000000% 0.000000% 0.268762% 0.152236% 0.000000% 0.000000% 0.000000% 0.152236% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.550548% 0.000000% 0.000000% 0.000000% 1.550548% 1.339629% 0.000000% 0.000000% 0.000000% 1.339629%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(~~Former~~A) ~~Name~~No orof ~~Former~~Loans ~~Address~~No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2 0 0 0 2 294,500.00 if0.00 ~~Changed~~0.00 ~~Since~~0.00 ~~Last~~294,500.00 ~~Report~~60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2 0 0 0 2 294,500.00 0.00 0.00 0.00 294,500.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.242718% 0.000000% 0.000000% 0.000000% 0.242718% 0.229143% 0.000000% 0.000000% 0.000000% 0.229143% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.242718% 0.000000% 0.000000% 0.000000% 0.242718% 0.229143% 0.000000% 0.000000% 0.000000% 0.229143% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 15 0 0 0 15 2,489,099.80 0.00 0.00 0.00 2,489,099.80 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 15 0 0 0 15 2,489,099.80 0.00 0.00 0.00 2,489,099.80 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.688389% 0.000000% 0.000000% 0.000000% 0.688389% 0.674897% 0.000000% 0.000000% 0.000000% 0.674897% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.688389% 0.000000% 0.000000% 0.000000% 0.688389% 0.674897% 0.000000% 0.000000% 0.000000% 0.674897% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 13 0 0 0 13 1,912,363.71 0.00 0.00 0.00 1,912,363.71 60 Days 5 0 0 0 5 419,154.30 0.00 0.00 0.00 419,154.30 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 18 0 0 0 18 2,331,518.01 0.00 0.00 0.00 2,331,518.01 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.957831% 0.000000% 0.000000% 0.000000% 1.957831% 2.261238% 0.000000% 0.000000% 0.000000% 2.261238% 60 Days 0.753012% 0.000000% 0.000000% 0.000000% 0.753012% 0.495621% 0.000000% 0.000000% 0.000000% 0.495621% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.710843% 0.000000% 0.000000% 0.000000% 2.710843% 2.756859% 0.000000% 0.000000% 0.000000% 2.756859% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 32 0 0 0 32 5,019,814.47 0.00 0.00 0.00 5,019,814.47 60 Days 8 0 0 0 8 826,511.35 0.00 0.00 0.00 826,511.35 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 40 0 0 0 40 5,846,325.82 0.00 0.00 0.00 5,846,325.82 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.735043% 0.000000% 0.000000% 0.000000% 2.735043% 2.123991% 0.000000% 0.000000% 0.000000% 2.123991% 60 Days 0.683761% 0.000000% 0.000000% 0.000000% 0.683761% 0.349715% 0.000000% 0.000000% 0.000000% 0.349715% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.418803% 0.000000% 0.000000% 0.000000% 3.418803% 2.473706% 0.000000% 0.000000% 0.000000% 2.473706%

~~Item~~OTHER 5INFORMATION Current Period Class A Insufficient Funds 0. ~~Other~~00 ~~Events~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 85,242.98

~~The~~COLLATERAL ~~Registrant~~STATEMENT ~~registered~~Collateral ~~issuances~~Description ofMixed ~~its~~Fixed ~~Structured~~& ~~Asset~~Arm ~~Investment~~Weighted ~~Loan~~Average ~~Trust~~Gross ~~Mortgage~~Coupon ~~Pass-Through~~7.876819% ~~Certificates~~Weighted ~~Series~~Average ~~2003-BC4~~Net onCoupon a7.376819% ~~delayed~~Weighted orAverage ~~continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S~~Pass-3Through ~~(Registration~~Rate ~~File No~~6.702445% ~~333-102489)~~Weighted Average Maturity(~~the~~Stepdown ~~“Registration~~Calculation ~~Statement”~~)~~. Pursuant~~ to354 ~~the~~Beginning ~~Registration~~Scheduled ~~Statement,~~Collateral ~~the~~Loan ~~Registrant~~Count ~~issued $818~~4,~~280,000~~863 ~~aggregate~~Number ~~principal~~Of ~~amount~~Loans ofPaid ~~Class~~In ~~1-A1,~~Full ~~Class~~26 ~~1-A2,~~Ending ~~Class~~Scheduled ~~2-A1,~~Collateral ~~Class~~Loan ~~2-A2,~~Count ~~Class A-IO~~4,837 ~~Class~~Beginning ~~M1,~~Scheduled ~~Class~~Collateral ~~M2,~~Balance ~~Class M3~~824, ~~Class M4~~049,370.40 ~~Class~~Ending M5Scheduled ~~and~~Collateral ~~Class~~Balance B817,731,084.49 ~~Certificates~~Ending ofActual ~~its~~Collateral ~~Structured~~Balance ~~Asset~~at ~~Investment Loan Trust Mortgage Pass~~31-~~Through Certificates, Series 2003-BC4 on~~ May ~~30,~~ -2003~~. This~~ ~~Current Report on Form 8-K is being filed to satisfy an undertaking~~818, ~~contained in the definitive Prospectus dated March 20~~244,501.59 ~~2003,~~Monthly asP ~~supplemented~~&I byConstant ~~the Prospectus Supplement dated May 22~~6, ~~2003 (the “Prospectus Supplement”)~~026,678.24 toSpecial ~~file~~Servicing aFee ~~copy~~0.00 ofPrepayment ~~the~~Penalties ~~Trust~~0.00 ~~Agreement~~Realized ~~(as~~Loss ~~defined~~Amount ~~below)~~0.65 ~~and~~Cumulative ~~other~~Realized ~~operative~~Loss ~~agreements~~0.65 ~~executed~~Ending inScheduled ~~connection~~Balance ~~with~~for ~~the~~Premium ~~issuance~~Loans ~~of the Certificates~~817,731,084.49 aScheduled ~~form~~Principal of617,605.89 ~~which~~Unscheduled ~~was~~Principal ~~filed as an exhibit to the Registration Statement~~5,700,580.02

~~The~~COLLATERAL ~~Certificates~~STATEMENT ~~were~~Collateral ~~issued~~Description ~~pursuant~~Mixed toFixed a& ~~Trust~~Arm ~~Agreement~~Weighted ~~(the~~Average ~~“Trust~~Coupon ~~Agreement”),~~Rate ~~attached hereto as Exhibit 4~~7.1,876819% ~~dated~~Weighted asAverage ofNet ~~May~~Rate 1,7.376819% ~~2003,~~Weighted ~~among~~Average ~~Structured~~Pass ~~Asset~~Through ~~Securities~~Rate ~~Corporation, as depositor, Aurora Loan Services Inc~~6.,702445% asWeighted ~~Master~~Average ~~Servicer,~~Maturity ~~The~~354 ~~Murrayhill~~Record ~~Company,~~Date as05/31/2003 ~~Credit~~Principal ~~Risk Manager,~~ and ~~Wells~~Interest ~~Fargo~~Constant ~~Bank Minnesota~~6, ~~National Association~~026, ~~as Trustee~~678. ~~The~~24 ~~“Certificates”~~Beginning ~~consist~~Loan ofCount ~~the following classes: Class 1-A1~~4,863 ~~Class~~Loans ~~1-A2,~~Paid ~~Class~~in ~~2-A1,~~Full ~~Class~~26 ~~2-A2,~~Ending ~~Class~~Loan ~~A-IO,~~Count ~~Class M1~~4,837 ~~Class~~Beginning ~~M2,~~Scheduled ~~Class~~Balance M3824, ~~Class M4~~049,370.40 ~~Class~~Ending ~~M5,~~Scheduled ~~Class~~Balance B817, ~~Class P~~731, ~~Class X and Class R~~084. ~~The~~49 ~~Certificates~~Ending ~~evidence~~Actual ~~all~~Balance ofat ~~the~~31-May-2003 ~~beneficial~~818,244,501.59 ~~ownership~~Scheduled ~~interest~~Principal in617,605.89 aUnscheduled ~~trust~~Principal ~~fund~~5,700,580.02 ~~(the~~Scheduled ~~“Trust~~Interest ~~Fund”)~~5,409,072.35 ~~that~~Servicing ~~consists~~Fee ~~primarily~~343,354.18 ofMaster ~~two~~Servicing ~~pools~~Fee of0.00 ~~certain~~Trustee ~~conventional~~Fee 2,403.24 ~~first~~FRY ~~and~~Amount ~~second~~0.00 ~~lien,~~Special ~~fixed~~Hazard ~~and~~Fee ~~adjustable~~0.00 ~~rate,~~Other ~~fully~~Fee ~~amortizing and balloon~~460,694.32 ~~residential~~Pool ~~mortgage~~Insurance ~~loans~~Fee ~~(the~~0.00 ~~“Mortgage~~Spread ~~Loans”)~~1 ~~with~~0.00 anSpread ~~aggregate~~2 ~~outstanding~~0.00 ~~principal~~Spread ~~balance~~3 ~~of $824,049,270~~0.4000 asNet ofInterest ~~May 1~~4, ~~2003~~602,620.74 ~~together~~Realized ~~with~~Loss ~~certain~~Amount ~~other assets~~0. ~~Capitalized~~65 ~~terms~~Cumulative ~~used~~Realized ~~herein~~Loss ~~and~~0.65 ~~not~~Percentage ~~otherwise~~of ~~defined~~Cumulative ~~shall~~Losses ~~have~~0.00 ~~the~~Special ~~meanings~~Servicing ~~assigned~~Fee to0.00 ~~them~~Prepayment inPenalties ~~the Trust Agreement~~0.00

~~Item~~Miscellaneous 7Reporting Excess Cash Amount 1,946,339. ~~Financial~~84 ~~Statements;~~Overcollateralization ~~Pro~~Amount ~~Forma~~5,769,270.40 ~~Financial~~Overcollateralization ~~Information~~Deficiency ~~and~~0.00 ~~Exhibits~~Targeted Overcollateralization Amount 5,769,270.40

Group Level Collateral Statement Group 1(aA) 1(B) 2(A) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.793042 7.675550 8.725432 Weighted Average Net Rate 7.293042 7.175550 8.225433 Pass-Through Rate 6.842926 6.304748 7.830221 Weighted Average Maturity 354 354 351 Beginning Loan Count 829 2,188 672 Loans Paid In Full 5 9 8 Ending Loan Count 824 2,179 664 Beginning Scheduled Balance 129,286,745.51 370,780,868.13 86,752,701.23 Ending scheduled Balance 128,442,933.08 368,591,043.59 84,514,650.17 Record Date 05/31/2003 05/31/2003 05/31/2003 Principal And Interest Constant 948,937.65 2,645,582.99 695,945.33 Scheduled Principal 109,323.49 273,960.42 65,149.64 Unscheduled Principal 734,488.94 1,915,864.12 2,172,901.42 Scheduled Interest 839,614.16 2,371,622.57 630,795.69 Servicing Fees 53,869.56 154,492.14 36,147.03 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 377.12 1,081.30 252.99 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 48,117.83 267,982.56 28,318.45 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 737,249.62 1,948,066.59 566,077.32 Realized Loss Amount 0.00 0.65 0.00 Cumulative Realized Loss 0.00 0.65 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

~~Not~~Group ~~applicable~~Level Collateral Statement Group 2(B) Total Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.926722 7.876819 Weighted Average Net Rate 7.426722 7.376819 Pass-Through Rate 6.835053 6.702445 Weighted Average Maturity 351 354 Beginning Loan Count 1,174 4,863 Loans Paid In Full 4 26 Ending Loan Count 1,170 4,837 Beginning Scheduled Balance 237,228,955.53 824,049,270.40 Ending scheduled Balance 236,182,457.65 817,731,084.49 Record Date 05/31/2003 05/31/2003 Principal And Interest Constant 1,736,212.27 6,026,678.24 Scheduled Principal 169,172.34 617,605.89 Unscheduled Principal 877,325.54 5,700,580.02 Scheduled Interest 1,567,039.93 5,409,072.35 Servicing Fees 98,845.45 343,354.18 Master Servicing Fees 0.00 0.00 Trustee Fee 691.83 2,403.24 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 116,275.48 460,694.32 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 1,351,227.21 4,602,620.74 Realized Loss Amount 0.00 0.65 Cumulative Realized Loss 0.00 0.65 Percentage of Cumulative Losses 0.00 0.00 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00

(b)

Not applicable.

(c)

Exhibits:

1.1

Terms Agreement, dated May 22, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., asUnderwriter.

4.1

Trust Agreement, dated as of May 1, 2003, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services Inc., as Master Servicer, The Murrayhill Company, as Credit Risk Manager and Wells Fargo Bank Minnesota, National Association, as Trustee.

99.1

Mortgage Loan Sale and Assignment Agreement, dated as of May 1, 2003, between Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.2

Assignment and Assumption Agreement, dated as of May 1, 2003, between Lehman Brothers Bank, FSB, as assignor and Lehman Brothers Holdings Inc., as assignee.

99.3

Securitization Servicing Agreement, dated as of May 1, 2003, by and between Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc, as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.4

Securitization Servicing Agreement, dated as of May 1, 2003, by and between Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc., as Master Servicer, and Ocwen Federal Bank FSB, as Servicer.

99.5

Mortgage Guaranty Insurance Corporation (“MGIC”) Master Policy (No. 22-400-4-2515), including (i) the Master Policy Declaration Page (form #71-70035) and (ii) Endorsements #71-7139 (8/94); #71-70178 (1/03); #71-70165 (2/01) and (iii) the MGIC Commitment Certificate (form #71-70239 2/03) covering certain first lien Mortgage Loans with original Loan-to-Value Ratios in excess of 80%.

99.6

Radian Guaranty Inc. (“Radian”) Master Policy, as supplemented by the Terms Letter Agreement, dated May 27, 2003, between Radian and Lehman Brothers Holdings Inc.

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/ Ellen V. Kiernan

Name: Ellen V. Kiernan

Title: Senior Vice President

Dated: May 30, 2003

EXHIBIT INDEX

Exhibit No.

Description

Page No.

1.1

Terms Agreement, dated May 22, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as Underwriters

4.1

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERTS SER 2003-BC4