10-D 1 bnc07004_10d-200801.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D 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: December 01, 2007 to January 01, 2008 Commission File Number of issuing entity: 333-139693-20 BNC Mortgage Loan Trust 2007-4 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-139693 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 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___ ____________ A2A _____ _____ __X___ ____________ A2B _____ _____ __X___ ____________ A3 _____ _____ __X___ ____________ A3A _____ _____ __X___ ____________ A3B _____ _____ __X___ ____________ A4 _____ _____ __X___ ____________ A4A _____ _____ __X___ ____________ A4B _____ _____ __X___ ____________ M1 _____ _____ __X___ ____________ M1A _____ _____ __X___ ____________ M1B _____ _____ __X___ ____________ M2 _____ _____ __X___ ____________ M2A _____ _____ __X___ ____________ M2B _____ _____ __X___ ____________ M3 _____ _____ __X___ ____________ M3A _____ _____ __X___ ____________ M3B _____ _____ __X___ ____________ M4 _____ _____ __X___ ____________ M4A _____ _____ __X___ ____________ M4B _____ _____ __X___ ____________ M5 _____ _____ __X___ ____________ M5A _____ _____ __X___ ____________ M5B _____ _____ __X___ ____________ M6 _____ _____ __X___ ____________ M6A _____ _____ __X___ ____________ M6B _____ _____ __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 25, 2008 a distribution was made to holders of BNC Mortgage Loan Trust 2007-4. The distribution report is attached as an Exhibit to this Form 10-D. 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 January 8, 2008, 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 under the Securities Act) or to certain accredited investors (as defined in Rule 501(a) of Regulation D promulgated under the Securities Act): Class Initial Principal Balance Class B1 $2,578,000 Class B2 $5,671,000 Class B3 $5,929,000 Class P $100 - Prepayment Penalty Amounts Class X N/A - Economic Residual Excess Cash Flow Class LT-R N/A - Non-Economic Tax Residual R Class 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: (99.1) Monthly report distributed to holders of BNC Mortgage Loan Trust 2007-4, relating to the January 25, 2008 distribution. (99.2) Clayton Risk Management 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. BNC Mortgage Loan Trust 2007-4 (Issuing Entity) Aurora Loan Services LLC (Master Servicer) /s/ Michele Olds Michele Olds, Vice President Servicer Oversight Date: February 04, 2008 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of BNC Mortgage Loan Trust 2007-4, relating to the January 25, 2008 distribution. EX-99.2 Clayton Risk Management Report EX-99.1 BNC Mortgage Loan Trust Mortgage Pass-Through Certificates Distribution Date: 1/25/2008 BNC Mortgage Loan Trust Mortgage Pass-Through Certificates Series 2007-4 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 8480 Stagecoach Circle Frederick, MD 21701-4747 www.ctslink.com Telephone: 1-866-846-4526 Fax: 240-586-8675

Prepayment Rates

EX-99.2 Clayton Risk Management Report There is no information to report at this time.

BNC CORP Mortgage Loan Trust 2007-BNC4 10-D