10-D/A 1 sac06bc2_10da-200609.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D/A Amendment No. 1 ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from: August 01, 2006 to September 01, 2006 Commission File Number of issuing entity: 333-133985-09 Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC2 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-133985 Structured Asset Securities Corporation (Exact name of depositor as specified in its charter) Lehman Brothers Holdings, Inc. (Exact name of sponsor as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) Not Applicable (I.R.S. Employer Identification No.) 745 Seventh Avenue, 7th Floor New York, NY 10019 (Address of principal executive offices of the issuing entity) (Zip Code) (212) 526-7000 (Telephone number, including area code) Not Applicable (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Title of Section Section Section Name of Exchange Class 12(b) 12(g) 15(d) (If Section 12(b)) A1 _____ _____ __X___ ____________ A2 _____ _____ __X___ ____________ A3 _____ _____ __X___ ____________ A4 _____ _____ __X___ ____________ M1 _____ _____ __X___ ____________ M2 _____ _____ __X___ ____________ M3 _____ _____ __X___ ____________ M4 _____ _____ __X___ ____________ M5 _____ _____ __X___ ____________ M6 _____ _____ __X___ ____________ M7 _____ _____ __X___ ____________ M8 _____ _____ __X___ ____________ M9 _____ _____ __X___ ____________ B1 _____ _____ __X___ ____________ B2 _____ _____ __X___ ____________ X _____ _____ __X___ ____________ P _____ _____ __X___ ____________ R _____ _____ __X___ ____________

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 ____ Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On October 31, 2006 a revision was made to the September 25, 2006 distribution which was made to holders of Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC2. The distribution report was revised because the prepayment penalty count was reported incorrectly. The revised distribution report is attached as an Exhibit to this Form 10-D/A. Please see Item 9(b), Exhibit 99.1 for the related information. Part II - OTHER INFORMATION Item 3. Sales of Securities & Use of Proceeds. On August 30, 2006, the following classes of securities in the following amounts were sold by the registrant in private placements in reliance on Section 4(2) of the Securities Act of 1933 (the "Securities Act") to certain qualified institutional buyers (as defined in Rule 144A of the Securities Act) or to certain accredited investors (as defined in the Securities Act): Class Initial Principal Balance Class B1 $16,487,000 Class B2 $11,188,000 Class X N/A - Economic Residual Excess Cash Flow Class P $100 - Prepayment Penalty Amounts Class R N/A - Non-Economic Tax Residual Class LT-R N/A - Non-Economic Tax Residual The net proceeds from the sale of these certificates were applied by the registrant to the purchase of the mortgages loans constituting the pool assets. Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D/A: (99.1) Amended monthly report distributed to holders of Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC2, relating to the September 25, 2006 distribution. (99.2) Clayton Credit Risk Manager Report (b) The exhibits required to be filed by Registrant pursuant to this Form are listed above and in the Exhibit Index that immediately follows the signature page hereof. 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 thereunto duly authorized. Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC2 (Issuing Entity) Wells Fargo Bank, N.A. (Master Servicer) /s/ Kelly Rentz Kelly Rentz, Officer Date: November 13, 2006 EXHIBIT INDEX Exhibit Number Description EX-99.1 Amended monthly report distributed to holders of Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC2, relating to the September 25, 2006 distribution. EX-99.2 Clayton Credit Risk Manager Report EX-99.1 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Distribution Date: 9/25/2006 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2006-BC2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660

REO Detail - All Mortgage Loans in REO during Current Period

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

Prepayment - Voluntary Prepayments

EX 99.2

SASCO 2006-BC2 10-D/A