10-D/A 1 sac06bc1_10da-200612.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: November 02, 2006 to December 01, 2006 Commission File Number of issuing entity: 333-129480-05 Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC1 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-129480 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___ ____________ A5 _____ _____ __X___ ____________ A6 _____ _____ __X___ ____________ M1 _____ _____ __X___ ____________ M2 _____ _____ __X___ ____________ M3 _____ _____ __X___ ____________ M4 _____ _____ __X___ ____________ M5 _____ _____ __X___ ____________ M6 _____ _____ __X___ ____________ M7 _____ _____ __X___ ____________ M8 _____ _____ __X___ ____________ M9 _____ _____ __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 January 13, 2007, a revision was made to the December 26, 2006 distribution which was made to holders of Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC1. The distribution report was revised because principal and a minimal amount of interest were misallocated among the senior certificates for the December 26, 2006 distribution. 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 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-BC1, relating to the December 26, 2006 distribution. (99.2) Clayton Credit Risk Manager Report (b) The exhibits required to be filed by the 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-BC1 (Issuing Entity) Aurora Loan Services LLC (Master Servicer) /s/ Michele Olds Michele Olds, Vice President Servicer Oversight Date: February 2, 2007 EXHIBIT INDEX Exhibit Number Description EX-99.1 Amended monthly report distributed to holders of Structured Asset Securities Corporation Mortgage Loan Trust 2006-BC1, relating to the December 26, 2006 distribution. EX-99.2 Clayton Credit Risk Manager Report EX-99.1 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Distribution Date: 12/26/2006 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2006-BC1 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 Rates

EX-99.2 (logo) Clayton SASCO 2006-BC1 Credit Risk Management Report November 2006 (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to Clayton Fixed Income Services Inc. by third parties and therefore Clayton Fixed Income Services Inc. cannot, and does not, warrant that the information contained in this Report is accurate or complete. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Table of Contents Section One Executive Summary Section Two Loan-Level Report Section Three Prepayment Penalty Analysis Report Section Four Mortgage Insurance Report Section Five Loss Analysis Section Six Analytics (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Section One Executive Summary (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) CLAYTON SASCO 2006-BC1 Executive Summary November 2006 Transaction Summary Closing Date: 04/28/2006 Depositor: Structured Asset Securities Corporation Trustee(s): US Bank NA Securities Administrator: Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Servicer(s): America s Servicing Company, Chase Home Finance, HomEq, Wells Fargo Mortgage Insurer(s): Mortgage Guaranty Insurance Corporation, PMI Mortgage Insurance Co. Delinquency Reporting Method: aost Collateral Summary Closing Date As of 11/25/2006 11/25/2006 Balance as Percentage of Closing Date Balance Collateral Balance $1,104,103,285 $929,024,611 84.14 % Loan Count 6,711 5,800 86.43 % o OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Value Added Total Value Added for SASCO 2006-BC1 as of 11/25/2006 Issues Amount Recovered 0 $0 Collateral Statistics Loan Count Summed Balance First Payment Defaults 2 $336,500 Early Payment Defaults* 65 $8,776,061 * A default that occurs on the second or third scheduled payment.

Prepayment Penalty Analysis For each remittance, Clayton reconciles the prepayment penalties that are collected by the servicers and remitted to the trust to ensure all appropriate funds are passed to the certificateholders. Please refer to the Prepayment Penalty Analysis section of this report for details regarding paid off loans with prepayment penalty flags. The table below provides a summary of Clayton's reconciliation for this remittance. Total Cash Flows

(C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Mortgage Insurance Clayton actively monitors mortgage insurance (MI) coverage for this deal. Each month, loans with MI are reviewed to ensure that the servicer has followed the appropriate claim filing process, that appropriate claims are paid, and that appropriate proceeds are remitted to the trust. The Mortgage Insurance Watchlist consists of all claims pending for 60+ days. Clayton monitors these claims to ensure that the servicer and MI company are proceeding to resolve the pending claims. Clayton also reviews each coverage rescission to ensure the findings were warranted and disputes them if discrepancies are found. Please refer to the Mortgage Insurance Report section for information regarding MI coverage for this deal. Loss Analysis Loss Issues for Current Month For each remittance, Clayton analyzes each loan-level loss to ensure that the accurate amount of sale, MI, and hazard insurance proceeds are remitted to the trust. We also review these losses to ensure servicing advances, such as escrow advances and foreclosure fees, are reasonable. If any discrepancies are identified, Clayton actively pursues the servicer to mitigate the loss. Please refer to the Loss Analysis section of this report for details regarding losses to the security. Below is a summary of the losses passed through in this remittance. Loss Summary Remittance Losses Remitted to the Trust Number of Loan-Level Losses/Gains 11/25/2006 $439,919 9 (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Section Two Loan-Level Report (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) Loan-Level Report Definitions FICO(R) : Represents the borrower's credit score at the time of securitization/origination. Last Paid Date: Either the interest paid-through date or the last contractually due payment made by the borrower. Clayton Fixed Income Services Inc. uses this date to calculate delinquencies. Valuation: Represents what is believed to be the most accurate known value of a property based on Clayton Fixed Income Services Inc.'s internal formulas. Several value appraisals may exist for a property, yet only what is believed to be the most accurate value according to these formulas is shown on the report. When no value is available, a valuation known as an "internal estimate" is calculated according to an internal formula that adjusts the original value of the property by the Housing Price Index (HPI) and a discount based on credit class. Liquidation Date: Clayton Fixed Income Services Inc.'s internal estimate of the date on which the loan will liquidate if it proceeds through foreclosure and REO. This date takes into consideration servicing and state foreclosure timelines, as well as an estimated REO marketing period. Estimated Loss/(Gain): Clayton Fixed Income Services Inc.'s internal estimate of the loss (or gain) that the loan will experience if it liquidates on the Liquidation Date. Delinquency Status: Indicates the monthly payment and delinquency history for an individual loan. The right-most character specifies the last known delinquency status, according to the following: C The contractually due payment arrived on time. 3 The contractually due payment has not arrived within thirty days. 6 The contractually due payment has not arrived within sixty days. 9 The contractually due payment has not arrived within ninety days. F The property is in the process of foreclosure. R The property is real estate owned (REO). 0 The mortgage has either liquidated or been paid off. OTS Delinquency Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. MBA Delinquency Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the last day of the month in which the payment was due. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8086814 2 CO 2/1/2005 Appraisal $227,000 $45,000 673 3/1/2006 8/18/2006 $240,000 $44,639 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8086814 20% 71.88% 11/1/2007 $32,350 C3699F9 (continued) 19% Active Default Reason: (Unknown) 11/27/2006 According to the servicer's response, this loan is scheduled to be charged off in October 2006. 11/2/2006 This loan has been referred to foreclosure from a second lien position. It appears as though this loan has insufficient equity to pursue foreclosure according to the servicer's charge-off threshold. Clayton requested a copy of the equity analysis utilized to refer this loan to foreclosure we are awaiting a response. 8/23/2006 This loan is 90 days delinquent. The senior lien for this property has been in foreclosure status for two months. This loan appears to have insufficient equity to pursue foreclosure. Clayton will continue to monitor this loan to ensure that the proper loss mitigation methods are pursued.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8087063 1 NC 11/1/2005 Appraisal $200,000 $200,000 612 8/1/2006 7/14/2006 $105,000 $198,314 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8087063 100% 59.38% 7/1/2007 $118,765 C6FFFC3 (continued) 189% Monitor Default Reason: Curtailment of Income 11/29/2006 This loan has been placed back on the Watchlist because of the high estimated loss amount. The borrower did not remit a payment in October 2006; therefore, this loan is reporting in a 30 day status. According to the 10/31/2006 data file, a notice of intent was mailed on 10/16/2006. If no payments are received, Clayton will monitor for the initiation of foreclosure. Additionally, Clayton is awaiting the copy of the appraisal dated 7/14/2006 so we can research the decline in value. 10/23/2006 Clayton received a copy of the original appraisal for this loan that returned a value of $200,000. According to the original appraisal, the property is a modular home that was built in 1999. The original appraisal states that the property was not finished at the time of the appraisal. The value in the original appraisal is based off of the assumption that the second floor of the property would be finished including carpet and paint. The original appraisal utilizes comparables that are similar in square footage and does not appear to be inflated. Clayton is still awaiting the arrival of the 7/14/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response. 10/10/2006 The servicer responded that a copy of the original appraisal will be forwarded to Clayton. 9/26/2006 We are still awaiting a response. 9/5/2006 This loan has been added to the Watchlist because it has been referred to foreclosure with a high estimated loss amount. This property was valued at $200,000 upon origination. The 7/14/2006 appraisal returned a value of $105,000, which represents a $95,000 decline in property value or 48 percent. Clayton requested the original appraisal and the 7/14/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response. 8/23/2006 This loan has been in foreclosure status for two months and the North Carolina foreclosure timeline is four months with a ten day redemption period. The UPB for this loan is $199,337, which is most of the original amount borrowed because this loan is an early payment default. Clayton will continue to monitor this loan through the foreclosure process.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8087522 1 FL 12/1/2005 Appraisal $425,000 $340,000 734 1/1/2006 7/25/2006 $320,000 $339,578 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8087522 80% 24.76% 5/1/2007 $84,209 CFFFFFF (continued) 106% Monitor Default Reason: Excessive Use of Credit 11/29/2006 Clayton is awaiting copies of the valuations from the servicer so we can research the decline in value. Additionally, Clayton will monitor that the foreclosure sale occurs in the 11/30/2006 data file. 11/27/2006 The servicer responded that it will forward a copy of the 7/25/2006 appraisal. We are awaiting the arrival of the appraisal in order to further investigate this property's decline in value. 10/23/2006 This loan is in foreclosure status and experienced a significant decline in value. This property was valued at $425,000 upon origination. The 7/25/2006 appraisal returned a value of $320,000, which represents a $105,000 decline in property value or 25 percent. Clayton requested the original appraisal and the 7/25/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response. 9/26/2006 This loan has been added to the Watchlist because it is an early payment default in foreclosure with a high UPB and a high estimated loss amount. The UPB for this loan is $339,578. This loan has been in foreclosure for four months and the Florida foreclosure timeline is five months. Clayton will continue to monitor this loan through foreclosure proceedings. 7/21/2006 This loan has been in foreclosure for two months because the borrower missed their last two payments for this loan. The Florida state foreclosure timeline is five months. The UPB for this loan is high at $339,578. This loan is an early payment default. Clayton will continue to monitor this loan through the foreclosure process. 6/23/2006 This loan has been put into foreclosure status because the borrower's first payment was reversed. This loan is a high balance loan with a UPB of $339,578. Clayton will continue to monitor this loan through foreclosure proceedings.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8087785 1 MI 12/1/2005 Appraisal $355,000 $307,108 528 5/1/2006 9/13/2006 $270,000 $305,803 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8087785 87% 33.59% 12/1/2007 $103,174 CCC36FF (continued) 113% Active Default Reason: Curtailment of Income 11/29/2006 This loan has been placed on the Watchlist because of the high estimated loss amount. An appraisal dated 9/13/2006 valued the property at $270,000, a 24 percent decline in value since origination. This loan is in foreclosure status and Michigan has a two month foreclosure timeline. According to the 10/31/2006 data file, the foreclosure sale was scheduled for 11/8/2006. 9/26/2006 This loan was part of the 9/25/2006 control group because it is 60 days delinquent. The borrower did not make a payment in the 9/25/2006 remittance period. Clayton will continue to monitor this loan for borrower payments or foreclosure proceedings.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8088020 1 CA 12/1/2005 Appraisal $305,000 $244,000 617 3/1/2006 7/21/2006 $210,000 $243,098 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8088020 80% 29.81% 6/1/2007 $72,755 C36FFFF (continued) 116% Monitor Default Reason: Unemployed / Temporary Loss of Income 11/30/2006 Clayton is awaiting the receipt of the updated valuation so we can research the decline in value. According to the 10/31/2006 data file, the foreclosure sale was scheduled for 11/1/2006. 10/26/2006 The servicer responded that it will forward a copy of the 7/21/2006 BPO. We are still awaiting the arrival of the BPO. 10/16/2006 Clayton received the original appraisal for this loan that returned a value of $305,000. The comparables utilized in the original appraisal were similar in square footage, age, and condition. There is a record of a prior sale in the original appraisal for $167,500. Clayton is still awaiting the arrival of the 7/21/2006 BPO for this property in order to further investigate its decline in value. 9/26/2006 This loan has been added to the Watchlist because it is an early payment default in foreclosure with a high estimated loss amount. This loan has been in foreclosure for two months and California foreclosure timeline is the four months. This property was valued at $305,000 upon origination and the 7/21/2006 appraisal returned a value of $210,000, which represents a $95,000 decline in property value or 31 percent. Clayton requested the original appraisal and the 7/21/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8088597 2 MO 2/1/2006 Appraisal $119,000 $25,000 591 3/1/2006 9/18/2006 $114,000 $24,979 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8088597 21% 126.02% 4/1/2007 $31,505 C369999 (continued) 22% Monitor Default Reason: Unemployed / Temporary Loss of Income 11/30/2006 This loan has been placed on the Watchlist as it is a delinquent second lien. An appraisal dated 9/18/2006 valued the property at $114,000, a four percent decline in value since origination. The balance of the first lien associated with this property has a balance of $93,714, creating a combined balance of $118,694. The first lien transferred to REO status on 10/24/2006, which makes the second lien unsecured. Clayton will monitor that this loan is charged off. If it is not charged off in November 2006, Clayton will ask the servicer when it will charge this loan off. 10/24/2006 The borrower did not make a payment in the 10/25/2006 remittance period. This loan appears to have insufficient equity to pursue foreclosure from a second lien position. Clayton will continue to monitor this loan to ensure that it is charged off when it becomes 180 days delinquent. 8/23/2006 This loan is 90 days delinquent from a second lien position. This loan has insufficient equity to pursue foreclosure from a second lien position. Clayton will continue to monitor this loan to ensure that the servicer follows the proper loss mitigation methods for this loan.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8088901 1 MO 2/1/2006 Appraisal $89,900 $80,910 540 2/1/2006 7/12/2006 $30,000 $80,869 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8088901 90% 83.67% 4/1/2007 $67,705 C6F9999 (continued) 270% Active-BK Default Reason: Excessive Use of Credit 11/29/2006 If no payments are remitted by the 11/30/2006 data file, Clayton will ask the servicer to provide an update on the bankruptcy. 11/2/2006 This loan is in active Chapter 13 bankruptcy and the borrower has not yet begun making payments on their Chapter 13 bankruptcy payment plan. Clayton will continue to monitor this loan for borrower payments. We are in the process of researching this loan as a potential repurchase candidate. 9/26/2006 Clayton received the original appraisal that returned a value of $95,000 and the 7/12/2006 appraisal that returned a value of $28,000. The original appraisal returned a square footage of 1,440. According to the BPO and a third party source, the property had 1,312 square feet. The original appraisal and a third party source have record of a previous sale on 5/10/2005 for $28,500. The original appraisal utilizes two comparables that are an average of 449 square feet larger than the subject. Clayton is in the process of researching this loan as a potential candidate for repurchase. 9/15/2006 The servicer responded that a copy of the original appraisal and the 7/12/2006 appraisal will be forwarded to Clayton. We are awaiting the arrival of the requested valuations. 8/23/2006 This loan has been added to the Watchlist because it has a high estimated loss severity. The borrower filed for Chapter 13 bankruptcy delaying the foreclosure process. This property was valued at $89,900 upon origination. The 7/12/2006 appraisal returned a value of $30,000, which represents a $59,000 decline in property value or 66 percent. We will continue to monitor this loan for a borrower payment plan. Clayton requested the original appraisal and the 7/12/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089082 1 TX 2/1/2006 Appraisal $150,000 $134,100 604 4/1/2006 8/11/2006 $84,300 $133,885 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089082 89% 56.13% 6/1/2007 $75,283 CC36FFR (continued) 159% Monitor Default Reason: Excessive Use of Credit 11/29/2006 This loan has been placed on the Watchlist because of the high estimated loss amount. An appraisal dated 8/11/2006 valued the property at $84,300, a 44 percent decline in value since origination. The foreclosure sale occurred and this loan transferred to REO status. According to the 10/31/2006 REO file, the eviction process was started. Once the property is vacant, Clayton will monitor the marketing of the property.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089474 1 OH 2/1/2006 Appraisal $98,000 $88,200 605 2/1/2006 8/3/2006 $22,500 $88,143 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089474 90% 96.64% 10/1/2007 $85,242 C6FFFFF (continued) 392% Active Default Reason: (Unknown) 11/29/2006 Clayton is awaiting a copy of the 8/3/2006 appraisal from the servicer so we can investigate the decline in value. According to the 10/31/2006 data file, there are no updates on the foreclosure process. 11/27/2006 The servicer responded that it will forward a copy of the 8/3/2006 appraisal to Clayton. We are awaiting the arrival of the 8/3/2006 appraisal in order to further investigate this property's decline in value. 10/27/2006 We are still awaiting a response. 10/16/2006 Clayton received the original appraisal for this loan that returned a value of $98,000. The original appraisal utilizes two comparables that are significantly larger in size than the subject. According to the original appraisal, the subject has 1,950 square feet, and it utilizes a comparable that has 2,314 square feet and another that has 2,172 feet. Clayton requested the 8/3/2006 appraisal that returned a value of $22,500 in order to further investigate this property's decline in value. We are awaiting a response. 9/27/2006 This loan been in foreclosure for three months and the Ohio state foreclosure timeline is seven months. This property was valued at $98,000 upon origination. The 8/3/2006 appraisal returned a value of $22,500, which represents a $75,500 decline in value or 77 percent. Clayton requested the original appraisal and the 8/3/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response. 8/23/2006 This loan has been in foreclosure status for two months and the Ohio state foreclosure timeline is seven months. The loan-to-value ratio for this loan is high at 90 percent. The state of Ohio is experiencing significant delays in foreclosure because the court system are overloaded. Clayton will continue to monitor this loan through the foreclosure process.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089504 2 GA 2/1/2006 Internal Estimate $74,000 $25,000 581 11/1/2006 3/31/2006 $56,706 $24,826 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089504 34% 141.53% 12/1/2007 $35,383 CCCCCCF (continued) 44% Monitor Default Reason: Excessive Use of Credit 11/29/2006 This loan has been placed on the Watchlist because it is a delinquent second lien in foreclosure status. According to the servicer, they are monitoring the first lien associated with this property's foreclosure process. The first lien's foreclosure sale was scheduled for 11/7/2006.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089588 2 OH 2/1/2006 Appraisal $80,000 $25,000 584 4/1/2006 9/14/2006 $27,000 $24,846 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089588 31% 284.69% 11/1/2007 $71,173 CC36999 (continued) 92% Monitor Default Reason: Servicing Problems 11/30/2006 This loan has been placed on the Watchlist because it is a delinquent second lien. An appraisal dated 9/14/2006 valued the property at $27,000, a 66 percent decline in value since origination. Clayton asked the servicer to forward copies of the original appraisal and the appraisal dated 9/14/2006 so we can research the decline in value. The balance of the first lien is $54,882, creating a combined balance of $79,728. With this information, there is not sufficient equity for the property. Clayton will monitor that this loan is charged off.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089629 1 MO 2/1/2006 Appraisal $128,500 $102,800 517 2/1/2006 7/10/2006 $62,500 $102,754 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089629 80% 60.79% 4/1/2007 $62,499 C6FFRRR (continued) 164% Monitor Default Reason: Excessive Use of Credit 11/27/2006 According to data received from the servicer in the 10/25/2006 remittance period, the eviction process for this loan was started on 8/23/2006. Clayton will continue to monitor this loan through the eviction process. 10/23/2006 This loan has been in REO status for two months and the servicer has not reported a listing price. Clayton followed up with the servicer to ensure that this property is listed. We are awaiting a response in regard to our request for the valuations and the listing of the property. 9/26/2006 We are still awaiting the arrival of the original appraisal in order to further investigate this property's decline in value. 9/5/2006 Clayton received the 7/8/2006 BPO for this property that returned a value of $59,900. According to the 7/8/2006 BPO, this property's value declined because it is located in the inner city where frequent police activity occurs and it is unsafe to leave property outside. The 7/8/2006 BPO also states that the property is surrounded by homes that are in mixed condition; some property's are in good shape and others are in poor shape. Clayton is still awaiting the arrival of the original appraisal in order to further evaluate this property's decline in value. 8/23/2006 This loan has been in foreclosure status for two months and the Missouri state foreclosure timeline is two months. This property was valued at $128,500 upon origination. The 7/10/2006 appraisal returned a value of $62,500, which represents a $66,000 decline in property value or 51 percent. A third party source has record of the sale of the property on 6/3/2005 for $95,228. Clayton requested a copy of the original appraisal and the 7/10/2006 appraisal for this property in order to further investigate this property's decline in value.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089689 2 GA 2/1/2006 Appraisal $138,000 $27,000 590 5/1/2006 9/22/2006 $124,000 $26,967 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089689 20% 147.52% 6/1/2007 $39,832 C336C99 (continued) 22% Monitor Default Reason: Curtailment of Income 11/29/2006 This loan has been placed on the Watchlist because it is a delinquent second lien. An appraisal dated 9/22/2006 valued the property at $124,000, a ten percent decline in value since origination. The balance of the first lien associated with this property is $107,625, which creates a combined balance of $134,592. With this information, there is not sufficient equity for the second lien. According to the servicer, it is planning on charging off this loan and Clayton concurs. Clayton will monitor that this loan is charged off.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089695 2 AZ 2/1/2006 Internal Estimate $190,100 $38,020 604 7/1/2006 3/31/2006 $148,302 $37,940 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089695 20% 211.90% 12/1/2007 $80,568 CCCCC3F (continued) 26% Monitor Default Reason: Curtailment of Income 11/29/2006 This loan has been placed on the Watchlist because it is a delinquent second lien. An appraisal dated 9/23/2006 that was performed from the first lien position valued the property at $219,000, a 15 percent increase in value since origination. The balance of the first lien associated with this property has a balance of $152,080, creating a combined balance of $190,020. According to the servicer, it is monitoring the senior lien's foreclosure process. It was indicated the senior lien's foreclosure sale is scheduled for 12/12/2006.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8089741 1 GA 2/1/2006 List Price $260,000 $204,500 581 1/1/2006 12/1/2006 $107,900 $204,500 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8089741 79% 62.85% 4/1/2007 $128,547 C9FFRRR (continued) 190% Active Default Reason: (Unknown) 11/29/2006 Clayton is awaiting the copy of the original appraisal so we can investigate the decline in value. The current list price is $107,900. There are no offers pending on this property. 10/16/2006 This loan is in REO status. Clayton received the 7/14/2006 BPO for this property that returned a value of $132,000. There are no damages listed in the BPO that would account for the property's decline in value. The comparables utilized in the BPO were similar in size to the subject. The BPO indicates that there are some rundown property's with boarded up windows in the area that may affect the value of the subject. We are are still awaiting a copy of the original appraisal in order to further investigate this property's decline in value. 10/10/2006 The servicer responded that a copy of the 7/14/2006 appraisal will be forwarded to Clayton. 9/26/2006 We are awaiting a response. 9/5/2006 This loan has been added to the Watchlist because it has been referred to foreclosure with a high estimated loss amount. This property was valued at $260,000 upon origination. The 7/14/2006 appraisal returned a value of $132,000, which represents a $128,000 decline in property value or 49 percent. Clayton requested the original appraisal and the 7/14/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response. 7/24/2006 This loan has been referred to foreclosure because the borrower missed three consecutive payments. The UPB for this loan is high at $204,500 because this loan is an first payment default. The Georgia state foreclosure timeline is two months. Clayton will continue to monitor this loan through foreclosure proceedings. 6/23/2006 This loan is 90 days delinquent. The borrower's payment in the 5/25/2006 remittance period was reversed. This loan has a UPB of $204,500. Clayton will continue to monitor this loan for borrower payments or foreclosure proceedings.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8090043 1 NH 2/1/2006 Appraisal $395,000 $316,000 633 2/1/2006 7/26/2006 $294,900 $315,713 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8090043 80% 22.72% 5/1/2007 $71,808 C6FFFRR (continued) 107% Monitor Default Reason: Excessive Use of Credit 11/27/2006 The servicer responded that three subsequent BPO's have been performed on the property and returned a value of $170,000, $240,000, and $241,000. The servicer responded that it will forward copys of the valuations to Clayton. We are awaiting the arrival of the valuations in order to further investigate this property's decline in value. 10/23/2006 We are awaiting a response. 9/26/2006 Clayton received the original appraisal that returned a value of $395,000 and the 7/26/2006 appraisal that returned a value of $294,900. The 7/26/2006 appraisal cited a square footage of 2,135 and the original appraisal returned a square footage of 2,253. The original appraisal utilizes comparables that are similar to the subject. The 7/26/2006 appraisal utilizes comparables that were located at least nine miles from the subject. The original appraisal classifies the property as suburban and the updated appraisal classified the property as rural. Clayton asked the servicer to consider ordering a subsequent valuation because of the distance of the comparable from the subject in the 7/26/2006 appraisal. 9/15/2006 The servicer responded that a copy of the 7/26/2006 appraisal will be forwarded to Clayton. We are awaiting the arrival of the 7/26/2006 appraisal. 8/23/2006 This loan has been in foreclosure status for two months and the New Hampshire state foreclosure timeline is three months. This loan has a high UPB of $315,713. This property was valued at $395,000 upon origination. The 7/26/2006 appraisal returned a value of $294,900, which represents a $100,100 decline in property value or 25 percent. Clayton will continue to monitor this loan through the foreclosure process. Clayton requested the original appraisal and the 7/26/2006 appraisal in order to further investigate this property's decline in value. We are awaiting a response.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8090085 2 CA 1/1/2006 Appraisal $530,000 $106,000 616 7/1/2006 7/20/2006 $520,000 $105,118 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8090085 20% 100.01% 8/1/2007 $106,020 C669FFF (continued) 20% Monitor Default Reason: Unemployed / Temporary Loss of Income 11/29/2006 Clayton is awaiting a response from the servicer as to why foreclosure was initiated when it does not appear there is sufficient equity for the second lien. 10/23/2006 We are awaiting a response. 9/26/2006 The borrower did not make a payment in the 9/25/2006 remittance period. This loan has been in foreclosure for one month. This loan appears to have had insufficient equity to pursue foreclosure at the time this loan entered foreclosure status. Clayton asked the servicer why this property was foreclosed on from a second lien position when there appears to be insufficient equity to pursue. We have asked the servicer which valuation was utilized to perform the equity analysis. We are awaiting a response. 8/23/2006 This loan is 90 days delinquent from a second lien position and the borrower is currently on a payment plan. Clayton will continue to monitor this loan for borrower payments.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8091061 2 CA 2/1/2006 Appraisal $302,000 $60,400 581 3/1/2006 8/1/2006 $309,000 $60,356 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8091061 20% 90.55% 9/1/2007 $54,693 C6999FF (continued) 20% Active-Pay Plan Default Reason: Marital Difficulties 11/29/2006 According to the servicer's response, the borrower is on a payment plan. According to the 10/31/2006 data file, the borrower entered a forbearance plan on 10/27/2006 and the first payment is due on 12/5/2006. Clayton will monitor for future payments. 10/23/2006 This loan is in foreclosure status with an negative estimated equity. Clayton asked the servicer to consider this loan for charge off. We have asked the servicer why it pursued foreclosure for this loan. We are awaiting a response. 9/27/2006 This loan is 90 days delinquent from a second lien position. The borrower did not make a payment in the 9/25/2006 remittance period. Clayton will wait until this loan is 180 days delinquent to follow up with the servicer to ensure that this loan is charged off.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8091161 1 MI 2/1/2006 Appraisal $117,400 $99,700 583 2/1/2006 8/1/2006 $49,900 $99,663 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8091161 85% 78.02% 11/1/2007 $77,795 C69FFFF (continued) 200% Monitor Default Reason: Unemployed / Temporary Loss of Income 11/29/2006 This loan has been placed on the Watchlist because of the high estimated loss amount. An appraisal dated 8/1/2006 valued the property at $49,900, a 58 percent decline in value since origination. Clayton asked the servicer to forward copies of the original appraisal and the appraisal dated 8/1/2006 so we can research the decline in value. This loan is in foreclosure status and Michigan has a two month foreclosure timeline. If a foreclosure sale is not scheduled in the 11/30/2006 data file, Clayton will ask the servicer to provide an update on the delay.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8091432 2 KS 1/1/2006 Internal Estimate $160,000 $32,000 620 4/1/2006 3/31/2006 $122,924 $31,943 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8091432 20% 216.89% 11/1/2007 $69,407 C366999 (continued) 26% Monitor Default Reason: Excessive Use of Credit 11/30/2006 This loan has been placed on the Watchlist because it is a delinquent second lien. The balance of the first lien associated with this property has a balance of $127,634, creating a combined balance of $159,576. The first lien is in foreclosure status. According to the servicer, the second lien is scheduled to be charged off in November 2006. Clayton asked the servicer to advise of the updated property value so we can evaluate if there is potential equity in the property. 10/24/2006 The borrower is on a payment plan that began on 9/7/2006 and did not make a payment in the 10/25/2006 remittance period. Clayton will continue to monitor this loan for borrower payments.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8091631 1 AZ 1/1/2006 Internal Estimate $300,000 $240,000 643 10/1/2006 3/31/2006 $236,537 $240,000 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8091631 80% 21.70% 3/1/2008 $52,101 CCCCCCC (continued) 101% Active Default Reason: (Unknown) 10/23/2006 The servicer responded that it will forward a copy of the loan application and occupancy affidavit. Clayton is awaiting the arrival of the documents. 9/14/2006 This loan has been added to the Watchlist because it was originated as a primary home and the borrower has a second loan that was taken out several months later as a primary home as well. This loan was originated on 12/1/2005, and the mortgage for the borrower's second primary home was originated on 9/22/2005. Both loans in the borrowers name are current at this time. According to a third party source, these property's are 0.20 miles away from each other. Clayton requested the origination documents for both loans from the servicer in order to research this loan as a candidate for repurchase.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8091891 1 IN 2/1/2006 Internal Estimate $55,000 $42,500 527 9/1/2006 3/31/2006 $41,969 $0 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8091891 77% 37.06% 9/22/2006 CCCCC00 (continued) 0% Monitor Default Reason: Servicing Problems 11/30/2006 Clayton is awaiting a response from the servicer regarding why a prepayment penalty was not remitted to the trust. 10/27/2006 This loan was paid off in the 10/25/2006 remittance period with an active prepayment penalty flag of three years. A prepayment penalty was not remitted to the trust in the 10/25/2006 remittance period. Clayton asked the servicer to remit the prepayment penalty for this loan in the 11/25/2006 distribution. We are awaiting a response.

*The estimated loss includes estimated mortgage insurance proceeds where applicable and in addition if the loan has been liquidated this reflects the actual loss that has been passed to the trust. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-Level Report Mortgage Data Through: October 31, 2006 Watchlist Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8092140 2 FL 2/1/2006 Appraisal $425,000 $85,000 624 4/1/2006 9/14/2006 $435,000 $0 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8092140 20% 85.40% 10/23/2006 $90,485 CC36990 (continued) 0% Active Default Reason: Curtailment of Income 11/29/2006 A loss of $90,485, a severity of 106 percent, was passed through to the trust. This loan was charged off. An appraisal dated 9/14/2006 valued the property at $435,000, a $10,000 increase in value since origination. The balance of the first lien associated with this property is $340,000, which creates a combined balance of $424,908. With this information, it does not appear that there would be sufficient equity for the second lien. However, the first lien is in current status for two months and this loan was charged off at 120 days. Clayton asked the servicer to explain why the loan was charged off before it was 180 days delinquent and what loss mitigation efforts were offered to the borrower from the second lien position as the first lien is in a current status. 10/23/2006 The borrower did not make a payment in the 10/25/2006 remittance period and this loan is 120 days delinquent. This loan appears to have insufficient equity to pursue foreclosure. Clayton will continue to monitor this loan to ensure that it is charged off by the time it is 180 days delinquent. 9/27/2006 This loan has been added to the Watchlist because the borrower did not make a payment 9/25/2006 remittance period and this loan is 90 days delinquent from a second lien position. The senior lien for this loan is in foreclosure and this loan appears to have insufficient equity to pursue foreclosure from a second lien position. According to the servicer's data, this loan is currently under research. Clayton will continue to monitor this loan to ensure that it is charged off.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8092413 2 OH 2/1/2006 Appraisal $690,000 $138,000 621 2/1/2006 8/25/2006 $749,900 $137,939 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8092413 20% 54.63% 9/1/2007 $75,402 C699999 (continued) 18% Active Default Reason: (Unknown) 11/30/2006 An appraisal performed on the first lien associated with this property valued the property at $550,000, a 20 percent decline in value since origination. The balance of the first lien is $552,000, creating a combined balance of $689,939. The first lien is in foreclosure status. With this information, there is not sufficient equity for the property. According to the servicer, this loan is scheduled to be charged off in November 2006 and Clayton concurs. 10/23/2006 The borrower did not make a payment in the 10/25/2006 remittance period and this loan is now 150 days delinquent. This loan appears to have insufficient equity to pursue foreclosure from a second lien position. Clayton will continue to monitor this loan to ensure that it is charged off by the servicer at the 180 days delinquent status. 9/26/2006 The borrower did not make a payment in the 9/25/2006 remittance period and this loan is 120 days delinquent. According to the servicer's data, this loan is currently in research. Clayton will continue to monitor this loan to ensure that the proper loss mitigation methods are pursued. We will follow up with the servicer when the loan becomes 150 days delinquent. 8/23/2006 The borrower did not make a payment in the 7/25/2006 remittance period. The senior lien for this property is in foreclosure status and this loan has insufficient equity to pursue foreclosure from a second lien position. Clayton will continue to monitor this loan to ensure that it is charged off. 7/24/2006 This loan is 90 days delinquent because the borrower missed three consecutive payments. The senior lien for this loan is in foreclosure and it is a high balance loan. Clayton will continue to monitor this loan to ensure that there is a sufficient positive equity to pursue foreclosure.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8093210 1 GA 11/1/2005 Appraisal $220,000 $178,500 613 3/1/2006 9/27/2006 $89,000 $178,013 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8093210 81% 33.56% 4/1/2007 $59,905 C36FFRR (continued) 200% L 30.00% Monitor Default Reason: (Unknown) 11/29/2006 This loan has been placed on the Watchlist because the high estimated loss amount. An appraisal dated 9/27/2006 valued the property at $89,000, a $131,000 decline in value since origination. Clayton asked the servicer to forward a copy of the original appraisal and the appraisal dated 9/27/2006 so we can research the decline in value. This loan is in REO status. According to the 10/31/2006 REO file, the property is being prepared for marketing. Clayton will monitor the marketing of the property. The MI claim was filed on 10/25/2006.

Lien State First Pmt. Valuation Orig. Appr. Orig Amount Loan Number Group FICO(R) Last Paid Dt. Valuation Date Current Value Current Bal 8086834 2 AZ 9/1/2005 Internal Estimate $212,000 $42,400 488 10/1/2006 3/31/2006 $181,028 $42,136 OLTV Severity Liq. Date Est (Gain)/Loss * Delinquency Loan Number CLTV MI Type Coverage Status 8086834 20% 173.81% 3/1/2008 $73,699 CCC36FF (continued) 23% Monitor Default Reason: Marital Difficulties 11/30/2006 This loan has been placed on the Watchlist because it is a delinquent second lien that is in foreclosure status. The balance of the first lien is $169,600, creating a combined balance of $211,736. Clayton does not have an updated valuation on file to determine if foreclosing from the second lien position is the best loss mitigation decision. Clayton asked the servicer to provide the results of the updated valuation and also forward a copy of the equity analysis.

SASCO 2006-BC1 Prepayment Penalty Analysis (cont.) Trustee Remittance Date: November 25, 2006

SASCO 2006-BC1 Paid-Off Mortgages With Prepayment Flags (cont.) Trustee Remittance Date: November 25, 2006

(C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Section Four Mortgage Insurance Report (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) SASCO 2006-BC1 Mortgage Insurance Claim Summary Mortgage Data Through: October 31, 2006 Claim Payment Breakdown # of Loans Dollar Amount Claims Paid: 0 $0 Claims Pending: 1 2 $182,407 Claims Rescinded: 2 0 $0 Claims Without Payment: 2 0 $0 Claims Denied:2 0 $0 Claims Withdrawn: 2 0 $0 Age of Pending Claims < 30 Days 30 Days Number of Pending Claims: 2 0 60 Days 90 Days 120 Days 150 Days 0 0 0 0 180 Days 210+ Days 0 0 1 Estimate based on internal calculations. 2 Estimated claim payment if the claim had been paid. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Mortgage Insurance Claims Mortgage Data Through: October 31, 2006

SASCO 2006-BC1 Mortgage Insurance Claims (cont.) Mortgage Data Through: October 31, 2006

(C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Section Five Loss Analysis (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) SASCO 2006-BC1 Historical Monthly Losses Losses Through: October 31, 2006 Date Loan Loss Amount Loss Percentage 11/25/2006 $439,919.35 0.04% 10/25/2006 $369,928.38 0.03% 9/25/2006 $170,488.95 0.02% 8/25/2006 $0.00 0.00% 7/25/2006 $0.00 0.00% 6/25/2006 $0.00 0.00% 5/25/2006 $0.00 0.00% Totals: $980,336.68 0.09% *The loss percentage is a calculation of the total monthly loss as a percentage of the original balance of the security. (C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loss Reconciliation Report Trustee Remittance Date: November 25, 2006

(C) 2006 Clayton Fixed Income Services Inc. All rights reserved. (page) Section Six Analytics (C) 2006 Clayton Fixed Income Services Inc. All rights reserved (page) SASCO 2006-BC1 FICO Distribution by Status Mortgage Data Through: October 31, 2006 FICO Delinquency Percentage 450 Current 0.001 460 Current 0.001 460 Delinquent 0.003 470 Current 0.001 470 Delinquent 0.009 470 Paid Off 0.001 480 Current 0 480 Delinquent 0.006 480 Paid Off 0.001 490 Current 0.001 490 Delinquent 0.01 500 Current 0.009 500 Delinquent 0.023 500 Paid Off 0.017 510 Current 0.02 510 Delinquent 0.04 510 Paid Off 0.039 520 Current 0.021 520 Delinquent 0.038 520 Paid Off 0.04 530 Current 0.028 530 Delinquent 0.057 530 Paid Off 0.046 540 Current 0.03 540 Delinquent 0.038 540 Paid Off 0.048 550 Current 0.034 550 Delinquent 0.043 550 Paid Off 0.053 560 Current 0.037 560 Delinquent 0.038 560 Paid Off 0.045 570 Current 0.039 570 Delinquent 0.057 570 Paid Off 0.046 580 Current 0.055 580 Delinquent 0.078 580 Paid Off 0.048 590 Current 0.081 590 Delinquent 0.087 590 Paid Off 0.059 600 Current 0.082 600 Delinquent 0.081 600 Paid Off 0.084 610 Current 0.074 610 Delinquent 0.084 610 Paid Off 0.071 620 Current 0.079 620 Delinquent 0.087 620 Paid Off 0.082 630 Current 0.078 630 Delinquent 0.077 630 Paid Off 0.076 640 Current 0.063 640 Delinquent 0.03 640 Paid Off 0.048 650 Current 0.062 650 Delinquent 0.027 650 Paid Off 0.053 660 Current 0.044 660 Delinquent 0.031 660 Paid Off 0.032 670 Current 0.035 670 Delinquent 0.014 670 Paid Off 0.02 680 Current 0.029 680 Delinquent 0.014 680 Paid Off 0.02 690 Current 0.02 690 Delinquent 0.009 690 Paid Off 0.018 700 Current 0.015 700 Delinquent 0.006 700 Paid Off 0.017 710 Current 0.015 710 Paid Off 0.013 720 Current 0.01 720 Delinquent 0.006 720 Paid Off 0.001 730 Current 0.008 730 Delinquent 0.004 730 Paid Off 0.006 740 Current 0.007 740 Paid Off 0.002 750 Current 0.005 750 Paid Off 0.001 760 Current 0.005 760 Delinquent 0.001 760 Paid Off 0.002 770 Current 0.004 770 Paid Off 0.005 780 Current 0.002 780 Delinquent 0.003 780 Paid Off 0.002 790 Current 0.002 790 Paid Off 0.001 800 Current 0.001 810 Current 0.001 Status # of Loans Average Std. Deviation Current 5,166 613 55.022 Delinquent 703 587 51.529 Paid Off 842 599 55.666 Total: 6,711 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Loan-to-Value Distribution by Status Mortgage Data Through: October 31, 2006 LTV DelinquencyPercentage 0.1 Paid Off 0.004 0.1 Current 0.005 0.1 Delinquent 0.001 0.2 Current 0.173 0.2 Delinquent 0.137 0.2 Paid Off 0.124 0.3 Delinquent 0.006 0.3 Paid Off 0.013 0.3 Current 0.009 0.4 Paid Off 0.017 0.4 Delinquent 0.001 0.4 Current 0.01 0.5 Delinquent 0.004 0.5 Current 0.021 0.5 Paid Off 0.034 0.6 Current 0.049 0.6 Paid Off 0.087 0.6 Delinquent 0.028 0.7 Paid Off 0.158 0.7 Current 0.101 0.7 Delinquent 0.092 0.8 Paid Off 0.337 0.8 Delinquent 0.424 0.8 Current 0.394 0.9 Paid Off 0.196 0.9 Delinquent 0.265 0.9 Current 0.192 1 Delinquent 0.041 1 Current 0.047 1 Paid Off 0.031 Status # of LoansAverage Std. Deviation Current 5,166 0.827 0.129 Delinquent703 0.841 0.101 Paid Off 842 0.789 0.145 Total: 6,711 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Balance Distribution by Status Mortgage Data Through: October 31, 2006 Balance Delinquency Percentage 10000 Current 0.003 10000 Delinquent 0.003 20000 Current 0.039 20000 Delinquent 0.028 30000 Current 0.044 30000 Delinquent 0.037 40000 Current 0.047 40000 Delinquent 0.031 50000 Current 0.04 50000 Delinquent 0.058 60000 Current 0.044 60000 Delinquent 0.06 70000 Current 0.05 70000 Delinquent 0.06 80000 Current 0.04 80000 Delinquent 0.053 90000 Current 0.043 90000 Delinquent 0.058 100000 Current 0.04 100000 Delinquent 0.055 110000 Current 0.043 110000 Delinquent 0.05 120000 Current 0.042 120000 Delinquent 0.038 130000 Current 0.042 130000 Delinquent 0.037 140000 Current 0.036 140000 Delinquent 0.03 150000 Current 0.035 150000 Delinquent 0.03 160000 Current 0.031 160000 Delinquent 0.03 170000 Current 0.033 170000 Delinquent 0.023 180000 Current 0.031 180000 Delinquent 0.023 190000 Current 0.025 190000 Delinquent 0.026 200000 Current 0.024 200000 Delinquent 0.03 210000 Current 0.023 210000 Delinquent 0.013 220000 Current 0.021 220000 Delinquent 0.017 230000 Current 0.019 230000 Delinquent 0.011 240000 Current 0.015 240000 Delinquent 0.016 250000 Current 0.014 250000 Delinquent 0.013 260000 Current 0.015 260000 Delinquent 0.009 270000 Current 0.012 270000 Delinquent 0.007 280000 Current 0.012 280000 Delinquent 0.01 290000 Current 0.009 290000 Delinquent 0.014 300000 Current 0.012 300000 Delinquent 0.014 310000 Current 0.009 310000 Delinquent 0.006 320000 Current 0.01 320000 Delinquent 0.013 330000 Current 0.007 330000 Delinquent 0.01 340000 Current 0.006 340000 Delinquent 0.004 350000 Current 0.006 350000 Delinquent 0.009 360000 Current 0.007 360000 Delinquent 0.003 370000 Current 0.004 370000 Delinquent 0.007 380000 Current 0.007 380000 Delinquent 0.001 390000 Current 0.004 390000 Delinquent 0.003 400000 Current 0.006 400000 Delinquent 0.003 410000 Current 0.003 410000 Delinquent 0.006 420000 Current 0.005 420000 Delinquent 0.011 430000 Current 0.003 440000 Current 0.003 440000 Delinquent 0.001 450000 Current 0.003 450000 Delinquent 0.006 460000 Current 0.003 460000 Delinquent 0.001 470000 Current 0.003 470000 Delinquent 0.006 480000 Current 0.003 490000 Current 0.003 490000 Delinquent 0.003 500000 Current 0.002 500000 Delinquent 0.001 510000 Current 0.001 520000 Current 0.002 520000 Delinquent 0.004 530000 Current 0.001 530000 Delinquent 0.001 540000 Current 0.002 540000 Delinquent 0.003 550000 Current 0.002 550000 Delinquent 0.001 560000 Current 0.001 560000 Delinquent 0.003 570000 Current 0.001 570000 Delinquent 0.001 580000 Current 0.001 580000 Delinquent 0.001 590000 Current 0.001 600000 Current 0.002 610000 Current 0 620000 Current 0 640000 Current 0.001 640000 Delinquent 0.001 650000 Current 0.001 650000 Delinquent 0.001 670000 Current 0 680000 Current 0 690000 Current 0 700000 Current 0.001 720000 Current 0 730000 Current 0.001 740000 Current 0 750000 Current 0.001 760000 Delinquent 0.001 770000 Current 0 780000 Current 0 790000 Current 0 790000 Delinquent 0.001 800000 Current 0 820000 Current 0 850000 Current 0 860000 Delinquent 0.001 930000 Current 0 950000 Current 0 990000 Current 0 1150000 Current 0 Status # of Loans Average Std. Deviation Current 5,166 160,991.72 123,285.55 Delinquent 703 156,615.98 124,186.75 Total: 5,869 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Mortgage Type Distribution by Status Mortgage Data Through: October 31, 2006 Mortgage Type Delinquency Percentage Investment Home Current 0.069 Investment Home Delinquent 0.064 Investment Home Paid Off 0.068 Primary Home Current 0.922 Primary Home Delinquent 0.93 Primary Home Paid Off 0.924 Second Home Current 0.009 Second Home Delinquent 0.006 Second Home Paid Off 0.008 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation ARM 4,458 729,954,648.04 163,740.39 132,546.57 Fixed 2,253 211,829,615.86 94,021.13 100,456.26 Total: 6,711 941,784,263.90 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Mortgage Term Distribution by Status Mortgage Data Through: October 31, 2006 Mortgage Term Delinquency Percentage 120 Current 0 120 Delinquent 0.001 120 Paid Off 0.002 180 Paid Off 0.045 180 Delinquent 0.048 180 Current 0.069 240 Current 0.011 240 Delinquent 0.014 240 Paid Off 0.008 300 Paid Off 0.001 300 Current 0.001 360 Current 0.918 360 Delinquent 0.936 360 Paid Off 0.943 # of Loans Other 120 180 240 300 360 6,711 0 5 430 76 4 6,196 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Mortgage Purpose Distribution Mortgage Data Through: October 31, 2006 Origination Statistics Current Loans Purpose Number Percentage Purpose Number Percentage Cash-out 3,218 48.0% Cash-out 2,417 46.8% refinance refinance Purchase 3,106 46.3% Purchase 2,439 47.2% Rate/term 309 4.6% Rate/term 250 4.8% refinance refinance Home 0 0.0% Home 0 0.0% Improvement Improvement Other 78 1.2% Other 60 1.2% Total 6,711 100% Total 5,166 100% Delinquent Loans Paid Off Loans Purpose Number Percentage Purpose Number Percentage Cash-out 266 37.8% Cash-out 535 63.5% refinance refinance Purchase 399 56.8% Purchase 268 31.8% Rate/term 29 4.1% Rate/term 30 3.6% refinance refinance Home 0 0.0% Home 0 0.0% Improvement Improvement Other 9 1.3% Other 9 1.1% Total 703 100% Total 842 100% (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Ownership Distribution by Status Mortgage Data Through: October 31, 2006 Ownership Type Delinquency Percentage Investment Home Current 0.069 Investment Home Delinquent 0.064 Investment Home Paid Off 0.068 Primary Home Current 0.922 Primary Home Delinquent 0.93 Primary Home Paid Off 0.924 Second Home Current 0.009 Second Home Delinquent 0.006 Second Home Paid Off 0.008 Title # of Loans Investment Home 458 Primary Home 6,195 Second Home 58 Total: 6,711 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Delinquent Count Over Time Mortgage Data Through: October 31, 2006 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 4/30/2006 5 0 0 0 0 5/31/2006 220 88 4 5 0 6/30/2006 184 118 26 44 0 7/31/2006 240 111 49 109 1 8/31/2006 266 106 63 137 6 9/30/2006 258 133 80 175 16 10/31/2006 217 156 101 194 35 (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2 0 0 6-BC1 Delinquent Balance Over Time Mortgage Data Through: October 31, 2006 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 4/30/2006 838978.05 0 0 0 0 5/31/2006 28442656.14 12983677.46 604500 877289.47 0 6/30/2006 27795028.61 15234600.85 2389914.1 8597157.89 0 7/31/2006 38879788 15959696.77 4812948.92 18124442.42 57522.44 8/31/2006 41711304.79 15380858.2 5807577.11 23174640.1 576301.89 9/30/2006 40935405.89 20425619.08 7706605.82 30118522.32 2255793.69 10/31/2006 37145181.01 23515138.79 10490654.57 32875847.79 6074208.49 Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Conditional Prepayment Rates Mortgage Data Through: October 31, 2006 Date Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 10/31/2006 11/25/2006 28.26% 27.80% 25.97% 9/30/2006 10/25/2006 20.85% 25.98% 8/31/2006 9/25/2006 33.73% 27.68% 7/31/2006 8/25/2006 22.67% 24.09% 6/30/2006 7/25/2006 26.20% 5/31/2006 6/25/2006 23.33% 4/30/2006 5/25/2006 17.80% Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page) SASCO 2006-BC1 Historical SDA Performance Mortgage Data Through: October 31, 2006 Weighted Monthly Date Average Age Default AmtDefault RateCDR (F-R) SDA Curve SDA % 31-Oct-06 11.31 $3,650,915 0.38% 4.47% 0.23% 1975% 30-Sep-06 10.25 $1,679,492 0.17% 2.02% 0.21% 986% 31-Aug-06 9.26 $518,779 0.05% 0.60% 0.19% 323% 31-Jul-06 8.26 $57,522 0.00% 0.00% 0.17% 0% 30-Jun-06 7.22 $0 0.00% 0.00% 0.14% 0% 31-May-06 6.22 $0 0.00% 0.00% 0.12% 0% 30-Apr-06 5.21 $0 0.00% 0.00% 0.10% 0% Averages: 8.25 $843,815 0.09% 1.01% 0.16% 469% (C)Copyright 2006, Clayton Fixed Income Services Inc. All rights reserved. (page)

SASCO 2006-BC1 10-D/A