Form 8-K

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FKZS4E9fMsYCIC/sgcLnrudrGnIhId4lTFlOB/idaF5obDhmfz5lny2WYgWLs52K d0W+pEunYEuapCXU3x1bWw== 0001292216-04-000012.txt : 20041202 0001292216-04-000012.hdr.sgml : 20041202 20041202151924 ACCESSION NUMBER: 0001292216-04-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041125 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041202 DATE AS OF CHANGE: 20041202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-10 CENTRAL INDEX KEY: 0001292216 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-106925-35 FILM NUMBER: 041180450 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 8-K 1 form8k_1104.htm SASCO 2004-10 8-K Form 8-K

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)

26-Nov-04

Structured Asset Mortgage Securities Corporation
Mortgage Pass-Through Certificates
Series 2004-10

Structured Asset Securities Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware

333-106925-35

74-2440850

(State or Other Jurisdiction

Of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

745 Seventh Avenue, 7th Floor

New York, New York

(Address of Principal
Executive Offices)

10019

(Zip Code)

Registrant's telephone number, including area code: (212) 526-7000

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.

On 26-Nov-04 a scheduled distribution was made from the Trust to holders of the Certificates. The Trustee has caused to be filed with the Commission, the Monthly Report dated 26-Nov-04. The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. 99.1

Monthly Distribution Report dated: 26-Nov-04

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.

By: U.S. Bank National Association, as Trustee for:

Structured Asset Mortgage Securities Corporation

Mortgage Pass-Through Certificates

Series 2004-10

By:

/s/ Diana Kenneally

Name:

Diana Kenneally

Title:

Assistant Vice President

Dated: 01-Dec-04

Index to Exhibits

Exhibit No. 99.1

Monthly Distribution Report dated: 26-Nov-04

EX-99.1 CHARTER 2 ex991_1104.htm SASCO 2004-10 EX 99.1 Distribution Report for sasco2004-10

Structured Asset Securities Corporation
Mortgage Pass-Through Certificates
Series 2004-10
B364

Payment Date: November 26, 2004

Record Date: October 29, 2004

Report to Certificateholders - Payment Summary

Interest Interest Initial Class Beginning Class Principal

Class CUSIP Rate Type Prin. Amount Principal Amount Distribution

1-A1 86359BSC6 5.6317% Variable 421,776,000.00 405,562,696.50 4,202,616.39

B1 86359BSD4 5.6317% Variable 9,011,000.00 8,964,321.95 9,521.43

B2 86359BSE2 5.6317% Variable 3,516,000.00 3,497,786.70 3,715.16

B3 86359BSF9 5.6317% Variable 1,758,000.00 1,748,893.36 1,857.58

B4 86359BSH5 5.6317% Variable 1,538,000.00 1,530,032.98 1,625.12

B5 86359BSJ1 5.6317% Variable 1,318,000.00 1,311,172.60 1,392.66

B6 86359BSK8 5.6317% Variable 662,385.00 658,953.80 699.90

R 86359BSG7 5.6317% Variable 100.00 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

439,579,485.00 423,273,857.88 4,221,428.24

Interest Total Realized Ending

Distribution Distribution Loss Balance

1,903,331.69 6,105,948.08 0.00 401,360,080.11

42,070.14 51,591.57 0.00 8,954,800.52

16,415.34 20,130.50 0.00 3,494,071.54

8,207.67 10,065.25 0.00 1,747,035.78

7,180.54 8,805.66 0.00 1,528,407.86

6,153.42 7,546.08 0.00 1,309,779.94

3,092.51 3,792.41 0.00 658,253.90

0.00 0.00 0.00 0.00

14,719.63 14,719.63 N/A N/A

0.00 0.00 N/A N/A

2,001,170.94 6,222,599.18 0.00 419,052,429.65

Distribution Amount Per $1,000

Beginning Principal Interest Realized Ending

Class Balance Distribution Distribution Loss Balance

1-A1 961.55944506 9.96409560 4.51266001 0.00000000 951.59534946

B1 994.81988124 1.05664521 4.66875375 0.00000000 993.76323603

B2 994.81988093 1.05664391 4.66875427 0.00000000 993.76323702

B3 994.81988378 1.05664391 4.66875427 0.00000000 993.76323986

B4 994.81988350 1.05664499 4.66875163 0.00000000 993.76323850

B5 994.81987553 1.05664643 4.66875569 0.00000000 993.76322910

B6 994.81992866 1.05663368 4.66875005 0.00000000 993.76329498

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

Report to Certificateholders - Principal Detail

Beginning Scheduled Principal Realized Total Principal Loss Ending

Class Balance Principal Prepayment Losses Payable Recovery Balance

1-A1 405,562,696.50 430,767.08 3,771,849.31 0.00 4,202,616.39 0.00 401,360,080.11

B1 8,964,321.95 9,521.43 0.00 0.00 9,521.43 0.00 8,954,800.52

B2 3,497,786.70 3,715.16 0.00 0.00 3,715.16 0.00 3,494,071.54

B3 1,748,893.36 1,857.58 0.00 0.00 1,857.58 0.00 1,747,035.78

B4 1,530,032.98 1,625.12 0.00 0.00 1,625.12 0.00 1,528,407.86

B5 1,311,172.60 1,392.66 0.00 0.00 1,392.66 0.00 1,309,779.94

B6 658,953.80 699.90 0.00 0.00 699.90 0.00 658,253.90

R 0.00 0.00 0.00 0.00 0.00 0.00 0.00

423,273,857.88 449,578.93 3,771,849.31 0.00 4,221,428.24 0.00 419,052,429.65

Report to Certificateholders - Interest Detail

Accrued Interest Net Prepayment Reimbursement of Interest Cumulative Net Cumulative

Class Cert. Interest Shortfall Interest Shortfall Prior Int. Shortfall Distribution Prepay. Int. Shortfall Interest Shortfall

1-A1 1,903,331.69 0.00 0.00 0.00 1,903,331.69 0.00 0.00

B1 42,070.14 0.00 0.00 0.00 42,070.14 0.00 0.00

B2 16,415.34 0.00 0.00 0.00 16,415.34 0.00 0.00

B3 8,207.67 0.00 0.00 0.00 8,207.67 0.00 0.00

B4 7,180.54 0.00 0.00 0.00 7,180.54 0.00 0.00

B5 6,153.42 0.00 0.00 0.00 6,153.42 0.00 0.00

B6 3,092.51 0.00 0.00 0.00 3,092.51 0.00 0.00

R 0.00 0.00 0.00 0.00 0.00 0.00 0.00

P N/A N/A N/A N/A 14,719.63 N/A N/A

E N/A N/A N/A N/A 0.00 N/A N/A

1,986,451.31 0.00 0.00 0.00 2,001,170.94 0.00 0.00

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

0.00 0.00 0.00 100000.00 0.00 8791589.00 0.00 4190524.30

Advance Information

Aggregate Advances Required: N/A

Aggregate Advances Made: 1,816,898.70

N/A

Delinquency Statistics

1 Month 2 Months 3+ Months Foreclosure Bankruptcy REO Total

# of Loans 14 6 1 1 5 0 27

Schedule Principal Balance 3,000,288.31 917,956.01 87,796.96 247,176.37 965,088.87 0.00 5,218,306.52

Collateral Information:

Pool

Beginning Aggregate Principal Balance 423,273,858.46

Scheduled Principal 449,578.93

Unscheduled Principal 3,771,849.31

Liquidation Proceeds 0.00

Insurance Proceeds 0.00

Ending Aggregate Principal Balance 419,052,430.22 Original Certificate Ratings

S&P Moody's

Loan Count Beginning 2,301 Class Rating Rating

Payoffs 21 1-A1 AAA Aaa

Ending 2,280 R AAA Aaa

B1 AA N/A

Master Servicing and Servicing Fees: B2 A N/A

Master Servicing Fees 0.00 B3 BBB N/A

Other Servicing Fees 88,182.05

Loan Number Principal Balance

Deleted Mortgage Loans

Qualifying Substitute Mortgage Loans

-----END PRIVACY-ENHANCED MESSAGE-----

					Payment Date:	November 26, 2004
					Record Date:	October 29, 2004

Report to Certificateholders - Payment Summary
		Interest	Interest	Initial Class	Beginning Class	Principal
Class	CUSIP	Rate	Type	Prin. Amount	Principal Amount	Distribution
1-A1	86359BSC6	5.6317%	Variable	421,776,000.00	405,562,696.50	4,202,616.39
B1	86359BSD4	5.6317%	Variable	9,011,000.00	8,964,321.95	9,521.43
B2	86359BSE2	5.6317%	Variable	3,516,000.00	3,497,786.70	3,715.16
B3	86359BSF9	5.6317%	Variable	1,758,000.00	1,748,893.36	1,857.58
B4	86359BSH5	5.6317%	Variable	1,538,000.00	1,530,032.98	1,625.12
B5	86359BSJ1	5.6317%	Variable	1,318,000.00	1,311,172.60	1,392.66
B6	86359BSK8	5.6317%	Variable	662,385.00	658,953.80	699.90
R	86359BSG7	5.6317%	Variable	100.00	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
				439,579,485.00	423,273,857.88	4,221,428.24

Interest	Total	Realized	Ending
Distribution	Distribution	Loss	Balance
1,903,331.69	6,105,948.08	0.00	401,360,080.11
42,070.14	51,591.57	0.00	8,954,800.52
16,415.34	20,130.50	0.00	3,494,071.54
8,207.67	10,065.25	0.00	1,747,035.78
7,180.54	8,805.66	0.00	1,528,407.86
6,153.42	7,546.08	0.00	1,309,779.94
3,092.51	3,792.41	0.00	658,253.90
0.00	0.00	0.00	0.00
14,719.63	14,719.63	N/A	N/A
0.00	0.00	N/A	N/A
2,001,170.94	6,222,599.18	0.00	419,052,429.65

Distribution Amount Per $1,000
	Beginning	Principal	Interest	Realized	Ending
Class	Balance	Distribution	Distribution	Loss	Balance
1-A1	961.55944506	9.96409560	4.51266001	0.00000000	951.59534946
B1	994.81988124	1.05664521	4.66875375	0.00000000	993.76323603
B2	994.81988093	1.05664391	4.66875427	0.00000000	993.76323702
B3	994.81988378	1.05664391	4.66875427	0.00000000	993.76323986
B4	994.81988350	1.05664499	4.66875163	0.00000000	993.76323850
B5	994.81987553	1.05664643	4.66875569	0.00000000	993.76322910
B6	994.81992866	1.05663368	4.66875005	0.00000000	993.76329498
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

Report to Certificateholders - Principal Detail
	Beginning	Scheduled	Principal	Realized	Total Principal	Loss	Ending
Class	Balance	Principal	Prepayment	Losses	Payable	Recovery	Balance
1-A1	405,562,696.50	430,767.08	3,771,849.31	0.00	4,202,616.39	0.00	401,360,080.11
B1	8,964,321.95	9,521.43	0.00	0.00	9,521.43	0.00	8,954,800.52
B2	3,497,786.70	3,715.16	0.00	0.00	3,715.16	0.00	3,494,071.54
B3	1,748,893.36	1,857.58	0.00	0.00	1,857.58	0.00	1,747,035.78
B4	1,530,032.98	1,625.12	0.00	0.00	1,625.12	0.00	1,528,407.86
B5	1,311,172.60	1,392.66	0.00	0.00	1,392.66	0.00	1,309,779.94
B6	658,953.80	699.90	0.00	0.00	699.90	0.00	658,253.90
R	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	423,273,857.88	449,578.93	3,771,849.31	0.00	4,221,428.24	0.00	419,052,429.65

Report to Certificateholders - Interest Detail
	Accrued	Interest	Net Prepayment	Reimbursement of	Interest	Cumulative Net	Cumulative
Class	Cert. Interest	Shortfall	Interest Shortfall	Prior Int. Shortfall	Distribution	Prepay. Int. Shortfall	Interest Shortfall
1-A1	1,903,331.69	0.00	0.00	0.00	1,903,331.69	0.00	0.00
B1	42,070.14	0.00	0.00	0.00	42,070.14	0.00	0.00
B2	16,415.34	0.00	0.00	0.00	16,415.34	0.00	0.00
B3	8,207.67	0.00	0.00	0.00	8,207.67	0.00	0.00
B4	7,180.54	0.00	0.00	0.00	7,180.54	0.00	0.00
B5	6,153.42	0.00	0.00	0.00	6,153.42	0.00	0.00
B6	3,092.51	0.00	0.00	0.00	3,092.51	0.00	0.00
R	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P	N/A	N/A	N/A	N/A	14,719.63	N/A	N/A
E	N/A	N/A	N/A	N/A	0.00	N/A	N/A
	1,986,451.31	0.00	0.00	0.00	2,001,170.94	0.00	0.00

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
0.00	0.00	0.00	100000.00	0.00	8791589.00	0.00	4190524.30

Aggregate Advances Required:				N/A
Aggregate Advances Made:				1,816,898.70
				N/A

	1 Month	2 Months	3+ Months	Foreclosure	Bankruptcy	REO	Total
# of Loans	14	6	1	1	5	0	27
Schedule Principal Balance	3,000,288.31	917,956.01	87,796.96	247,176.37	965,088.87	0.00	5,218,306.52

Collateral Information:
			Pool
Beginning Aggregate Principal Balance			423,273,858.46

Scheduled Principal			449,578.93
Unscheduled Principal			3,771,849.31
Liquidation Proceeds			0.00
Insurance Proceeds			0.00

Ending Aggregate Principal Balance		419,052,430.22	Original Certificate Ratings
				S&P	Moody's
Loan Count	Beginning	2,301	Class	Rating	Rating
	Payoffs	21	1-A1	AAA	Aaa
	Ending	2,280	R	AAA	Aaa
			B1	AA	N/A
Master Servicing and Servicing Fees:			B2	A	N/A
Master Servicing Fees		0.00	B3	BBB	N/A
Other Servicing Fees		88,182.05