8-K 1 usbb36008252004.txt SASCO 2004-3 LIVE 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): August 25, 2004 (Date of earliest event reported) Structured Asset Securities Corporation (as Depositor under the Trust Agreement, dated as February 1, 2004, providing for the issuance of Mortgage Pass-Through Certificates, Series 2004-3 (Exact name of registrant as specified in charter) Delaware 333-106925 (State or other jurisdiction of organization) (Commission File Number) 74-2440850 (IRS Employer Identification No.) 745 Seventh Avenue, 7th Floor, New York, NY 10019 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (212) 526-7000 (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. This current report on Form 8-K relates to the monthly distribution reported to the holders of Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2004-3, which was made on August 25, 2004 Item 9.01 Financial Statements and Exhibits. (c) Exhibits Exhibit No. Description 99.1 Monthly distribution report pursuant to Section 4.03 of the Trust Agreement for distribution on August 25, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized. Us Bank, IN ITS CAPACITY AS TRUSTEE UNDER THE TRUST AGREEMENT ON BEHALF OF STRUCTURED ASSET SECURITIES CORPORATION, REGISTRANT By:/s/ Diana Kenneally Name: Diana Kenneally Title: Assistant Vice President Date: September 2, 2004 Report to Certificateholders - Payment Summary Date: August 25, 2004 Int Int Int Beg Class Prin Class CUSIP Rate Type Class Princ Dist 1-A1 86359BMD0 0.05605 Variable 71,035,000 67,733,018.98 1,725,782.38 2-A1 86359BME8 0.04500 Fixed 31,392,000 28,762,079.67 427,528.04 3-A1 86359BMF5 0.05500 Fixed 106,455,000 97,753,351.39 609,987.68 3-PAX1 86359BMG3 0.05000 Fixed 2,642,184 2,556,189.47 N/A 4-A1 86359BMH1 0.06071 Variable 329,541,000 309,531,774.36 4,809,359.75 AP 86359BMJ7 0.00000 Fixed 2,883,808 2,674,714.82 32,941.95 AX1 86359BMP3 0.05000 Fixed 4,858,411 4,349,396.78 N/A B1 86359BMK4 0.05805 Variable 13,318,000 13,194,816.06 25,037.85 B2 86359BML2 0.05805 Variable 4,533,000 4,491,072.32 8,522.04 B3 86359BMM0 0.05805 Variable 2,548,000 2,524,432.45 4,790.24 B4 86359BKN0 0.05805 Variable 2,265,000 2,244,050.04 4,258.20 B5 86359BKP5 0.05805 Variable 1,699,000 1,683,285.21 3,194.12 B6 86359BKQ3 0.05805 Variable 1,145,723 1,135,126.40 2,153.60 R 86359BMN8 0.05605 Variable 100 0.00 0.00 P N/A N/A N/A N/A N/A N/A E N/A N/A N/A N/A N/A N/A 566,815,631 531,727,721.71 7,653,555.87 1 Based on a Notional Balance Component Classes: AX(2) N/A 0.05500 Fixed 2,215,313 2,062,993 N/A AX(3) N/A 0.05000 Fixed 2,643,098 2,286,404 N/A AP(2) N/A 0.00000 Fixed 314,776 307,658 1,424.73 AP(3) N/A 0.00000 Fixed 2,569,032 2,367,057 31,517.22

Payment Summary Interest Total Realized Ending Dist Dist Loss Balance 316,363.51 2,042,145.89 0.00 66,007,236.60 107,857.80 535,385.84 0.00 28,334,551.63 448,036.19 1,058,023.87 0.00 97,143,363.71 10,650.79 10,650.79 N/A 2,546,832.54 1,564,985.26 6,374,345.01 0.00 304,722,414.61 N/A 32,941.95 0.00 2,641,772.87 18,122.49 18,122.49 N/A 4,276,687.68 63,829.59 88,867.44 0.00 13,169,778.21 21,725.45 30,247.49 0.00 4,482,550.28 12,211.88 17,002.12 0.00 2,519,642.20 10,848.54 15,106.75 0.00 2,239,791.83 8,142.85 11,336.97 0.00 1,680,091.09 5,491.15 7,644.75 0.00 1,132,972.80 0.00 0.00 0.00 0.00 41,776.72 41,776.72 N/A N/A 0.00 0.00 N/A N/A 2,630,042.22 10,283,598.09 0.00 524,074,165.84 Component Classes: 8,595.81 8,595.81 N/A 2,016,713.39 9,526.68 9,526.68 N/A 2,259,974.29 N/A 1,424.73 N/A 306,233.23 N/A 31,517.22 N/A 2,335,539.64 Distribution Amount Per $1,000 Beginning Principal Interest Realized Ending Class Certificate Fac Distribution Distribution Loss Bal 1-A1 953.51613969 24.29481776 4.45362863 0.00000000 929.22132193 2-A1 916.22323100 13.61901241 3.43583716 0.00000000 902.60421859 3-A1 918.25984119 5.73000501 4.20869090 0.00000000 912.52983619 3-PAX1 967.45323755 N/A 4.03105537 N/A 963.91187783 4-A1 939.28152903 14.59411652 4.74898497 0.00000000 924.68741251 AP 927.49407034 11.42307324 N/A 0.00000000 916.07099710 AX1 895.23030781 N/A 3.73012699 N/A 880.26469477 B1 990.75056798 1.88000108 4.79273089 0.00000000 988.87056690 B2 990.75056798 1.88000108 4.79273108 0.00000000 988.87056690 B3 990.75056798 1.88000108 4.79273155 0.00000000 988.87056690 B4 990.75056798 1.88000108 4.78964421 0.00000000 988.87056690 B5 990.75056798 1.88000108 4.79273102 0.00000000 988.87056690 B6 990.75116773 1.87968800 4.79273786 0.00000000 988.87147973 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P N/A N/A N/A N/A N/A E N/A N/A N/A N/A N/A 1 Based on a Notional Balance Component Classes AX(2) 931.24232016 N/A 3.88017856 N/A 910.35144515 AX(3) 865.04683406 N/A 3.60436125 N/A 855.04748027 AP(2) 977.38696724 4.526170991 N/A N/A 972.86079625 AP(3) 921.38083916 12.26813056 N/A N/A 909.11270860 Report to Certificateholders - Principal Detail Beginning Scheduled Princ Real Total Prin Loss Ending Cumulative Class Balance Principal Pre pay Losses Payable Rec Balance Realized Loss 1-A1 67733018.98 159234.92 1566547.46 0.00 1725782.38 0.00 66007236.60 0.00 2-A1 28762079.67 119188.48 308339.56 0.00 427528.04 0.00 28334551.63 0.00 3-A1 97753351.39 365967.56 244020.12 0.00 609987.68 0.00 97143363.71 0.00 3-PAX1 2556189.47 N/A N/A N/A N/A N/A 2546832.54 N/A 4-A1 309531774.36 304833.49 4504526.26 0.00 4809359.75 0.00 304722414.61 0.00 AP 2674714.82 10656.55 22285.40 0.00 32941.95 0.00 2641772.87 0.00 AX1 4349396.78 N/A N/A N/A N/A N/A 4276687.68 N/A B1 13194816.06 25037.85 0.00 0.00 25037.85 0.00 13169778.21 0.00 B2 4491072.32 8522.04 0.00 0.00 8522.04 0.00 4482550.28 0.00 B3 2524432.45 4790.24 0.00 0.00 4790.24 0.00 2519642.20 0.00 B4 2244050.04 4258.20 0.00 0.00 4258.20 0.00 2239791.83 0.00 B5 1683285.21 3194.12 0.00 0.00 3194.12 0.00 1680091.09 0.00 B6 1135126.40 2153.60 0.00 0.00 2153.60 0.00 1132972.80 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 531727721.71 1007837.07 6645718.80 0.00 7653555.87 0.00 524074165.84 0.00 1 Based on a Notional Balance 2 Classes AX and PAX Ending Balances are approximated based on Ending Weighted Average Net Mortgage Rates of respective Mortgage Loan groups. Component Classes AX(2) 2062993.22 N/A N/A N/A N/A N/A 2016713.39 N/A AX(3) 2286403.56 N/A N/A N/A N/A N/A 2259974.29 N/A AP(2) 307657.96 1338.24 86.49 0.00 1424.73 0.00 306233.23 N/A AP(3) 2367056.86 9318.31 22198.91 0.00 31517.22 0.00 2335539.64 N/A

Report to Certificateholders - Interest Detail Accrued Interest Net PrePrey Reimburse Interest Cumulative Cumulative Class Cert Int Shtfl Int Shtfl of Prior Int Dist. Amou Prepay Sht fl Interest Sht fl 1-A1 316,363.51 0.00 0.00 0.00 0.00 316,363.51 0.00 0.00 2-A1 107,857.80 0.00 0.00 0.00 0.00 107,857.80 0.00 0.00 3-A1 448,036.19 0.00 0.00 0.00 0.00 448,036.19 0.00 0.00 3-PAX1 10,650.79 0.00 0.00 0.00 0.00 10,650.79 0.00 0.00 4-A1 1,565,993.02 0.00 0.00 1,007.76 0.00 1,564,985.26 0.00 0.00 AP N/A N/A N/A N/A N/A N/A N/A N/A AX1 18,122.49 0.00 0.00 0.00 0.00 18,122.49 0.00 0.00 B1 63,829.59 0.00 0.00 0.00 0.00 63,829.59 0.00 0.00 B2 21,725.45 0.00 0.00 0.00 0.00 21,725.45 0.00 0.00 B3 12,211.88 0.00 0.00 0.00 0.00 12,211.88 0.00 0.00 B4 10,855.53 0.00 0.00 6.99 0.00 10,848.54 0.00 0.00 B5 8,142.85 0.00 0.00 0.00 0.00 8,142.85 0.00 0.00 B6 5,491.15 0.00 0.00 0.00 0.00 5,491.15 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 P N/A N/A N/A N/A N/A 41,776.72 N/A N/A E N/A N/A N/A N/A N/A 0.00 N/A N/A 2,589,280.25 0.00 0.00 1,014.75 0.00 2,630,042.22 0.00 0.00 Component Classes AX(2) 8,595.81 0.00 0.00 0.00 0.00 8,595.81 0.00 0.00 AX(3) 9,526.68 0.00 0.00 0.00 0.00 9,526.68 0.00 0.00 AP(2) N/A N/A N/A N/A N/A N/A N/A N/A AP(3) N/A N/A N/A N/A N/A N/A N/A N/A Report to Certificateholders Delinquency Statistics Pool 1 1 Month 2 Months 3+ Months Foreclosure Bankruptcy REO Total # of Loans 8 1 0 0 0 0 1 Schedule Principal Balance 1,330,320.89 55,012.10 0.00 0.00 0.00 0.00 1,385,332.99 Pool 2 # of Loans 1 0 0 0 0 0 1 Schedule Principal Balance 631,502.43 0.00 0.00 0.00 0.00 0.00 631,502.43 Pool 3 # of Loans 1 0 0 0 0 0 1 Schedule Principal Balance 103,411.44 0.00 0.00 0.00 0.00 0.00 103,411.44 Pool 4 # of Loans 27 5 1 2 3 0 38 Schedule Principal Balance 4,691,412.53 776,500.24 123,201.95 258,656.97 795,742.66 0.00 6,645,514.35 Total # of Loans 37 6 1 2 3 0 49 Schedule Principal Balance 6,756,647.29 831,512.34 123,201.95 258,656.97 795,742.66 0.00 8,765,761.21 Mortgage Pool Realized Losses Collateral Losses Bankruptcy Losses Fraud Losses Special Hazard Losses Current Month Since Cutoff Current Loss Limit Current Loss Limit Current Loss Limit Pool 1 0.00 0.00 0.00 See Note 0.00 See Note 0.00 See Note Pool 2 0.00 0.00 0.00 See Note 0.00 See Note 0.00 See Note Pool 3 0.00 0.00 0.00 See Note 0.00 See Note 0.00 See Note Pool 4 0.00 0.00 0.00 See Note 0.00 See Note 0.00 See Note Total 0.00 0.00 0.00 0.00 0.00 Note: Combined Loss Limit for all five Mortgage Pools: Bankruptcy Fraud Special Hazard 108,441.00 11,336,312.00 5,668,156.00 Advance Information Pool 1 Pool 2 Pool 3 Pool 4 Total Aggregate Advances Required N/A N/A N/A N/A N/A Aggregate Advances Made 404,374.10 158,452.99 759,701.57 1,444,239.73 2,766,768.39 N/A N/A N/A N/A N/A Trustee's Report to Certificateholders Collateral Information: Pool 1 Pool 2 Pool 3 Pool 4 Total Beginning Aggregate Principal Balance 71,042,387.04 30,534,697.32 105,165,178.42 324,985,459.15 531,727,721.93 Scheduled Principal 167,014.98 126,597.43 394,172.41 320,052.61 1,007,837.43 Unscheduled Principal 1,566,547.46 308,426.05 266,219.03 4,504,526.26 6,645,718.80 Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00 Insurance Proceeds 0.00 0.00 0.00 0.00 0.00 Ending Aggregate Principal Balance 69,308,824.60 30,099,673.84 104,504,786.98 320,160,880.28 524,074,165.70 Ending Non-AP Pool Balance 69,308,824.60 29,793,440.62 102,169,247.48 320,160,880.28 521,432,392.98 Loan Count Beginning 340 94 336 1842 2,612 Payoffs 7 1 2 25 35 Ending 333 93 334 1817 2,577 Master Servicing and Servicing Fees: Master Servicing Fees 0.00 Other Servicing Fees 110,779.80 Loan Number Principal Balance Deleted Mortgage Loans Qualifying Substitute Mortgage Loans Original Certificate Ratings S&P Moody's Class Rating Rating 1-A1 AAA Aaa 2-A1 AAA Aaa 3-A1 AAA Aaa 3-PAX AAA Aaa 4-A1 AAA Aaa AP AAA Aaa AX AAA Aaa R AAA Aaa B1 AA N/A B2 A N/A B3 BBB N/A

STRUCTURED ASSET SECURITIES CORP MORT PS-THR CERT SER 2004-3 8-K