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, EHhMphezCZxDsyrAhAoivNNUi5bt3//8Q6f5bNoCbty+pQtuT/rt98T+E5HXgO8E 6UkhrxfIatVbZgKsJd/0Dg== 0001292216-04-000013.txt : 20041229 0001292216-04-000013.hdr.sgml : 20041229 20041229122801 ACCESSION NUMBER: 0001292216-04-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041225 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041229 DATE AS OF CHANGE: 20041229 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: 041230100 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_1204.htm SASCO 04-10 8K 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)

27-Dec-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 27-Dec-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 27-Dec-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: 27-Dec-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: 29-Dec-04

Index to Exhibits

Exhibit No. 99.1

Monthly Distribution Report dated: 27-Dec-04

EX-99.1 CHARTER 2 ex991_1204.htm SASCO 04-10 EXHIBITS Distribution Report for sasco 2004-10

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

Payment Date: December 27, 2004

Record Date: November 30, 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 5.6287% Variable 421,776,000.00 401,360,080.11 5,437,715.36

B1 86359BSD4 5.6287% Variable 9,011,000.00 8,954,800.52 9,579.42

B2 86359BSE2 5.6287% Variable 3,516,000.00 3,494,071.54 3,737.79

B3 86359BSF9 5.6287% Variable 1,758,000.00 1,747,035.78 1,868.90

B4 86359BSH5 5.6287% Variable 1,538,000.00 1,528,407.86 1,635.02

B5 86359BSJ1 5.6287% Variable 1,318,000.00 1,309,779.94 1,401.14

B6 86359BSK8 5.6287% Variable 662,385.00 658,253.90 704.17

R 86359BSG7 5.6287% 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

439,579,485.00 419,052,429.65 5,456,641.80

Interest Total Realized Ending

Distribution Distribution Loss Balance

1,882,627.91 7,320,343.27 0.00 395,922,364.75

42,003.57 51,582.99 0.00 8,945,221.10

16,389.36 20,127.15 0.00 3,490,333.75

8,194.68 10,063.58 0.00 1,745,166.88

7,169.18 8,804.20 0.00 1,526,772.84

6,143.68 7,544.82 0.00 1,308,378.80

3,087.62 3,791.79 0.00 657,549.73

0.00 0.00 0.00 0.00

14,797.68 14,797.68 N/A N/A

0.00 0.00 N/A N/A

1,980,413.68 7,437,055.48 0.00 413,595,787.85

Distribution Amount Per $1,000

Beginning Principal Interest Realized Ending

Class Balance Distribution Distribution Loss Balance

1-A1 951.59534946 12.89242480 4.46357287 0.00000000 938.70292466

B1 993.76323603 1.06308068 4.66136611 0.00000000 992.70015535

B2 993.76323702 1.06308020 4.66136519 0.00000000 992.70015681

B3 993.76323986 1.06308305 4.66136519 0.00000000 992.70015681

B4 993.76323850 1.06308192 4.66136541 0.00000000 992.70015658

B5 993.76322910 1.06308042 4.66136571 0.00000000 992.70014867

B6 993.76329498 1.06308139 4.66136763 0.00000000 992.70021358

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 401,360,080.11 429,355.79 5,008,359.57 0.00 5,437,715.36 0.00 395,922,364.75

B1 8,954,800.52 9,579.42 0.00 0.00 9,579.42 0.00 8,945,221.10

B2 3,494,071.54 3,737.79 0.00 0.00 3,737.79 0.00 3,490,333.75

B3 1,747,035.78 1,868.90 0.00 0.00 1,868.90 0.00 1,745,166.88

B4 1,528,407.86 1,635.02 0.00 0.00 1,635.02 0.00 1,526,772.84

B5 1,309,779.94 1,401.14 0.00 0.00 1,401.14 0.00 1,308,378.80

B6 658,253.90 704.17 0.00 0.00 704.17 0.00 657,549.73

R 0.00 0.00 0.00 0.00 0.00 0.00 0.00

419,052,429.65 448,282.23 5,008,359.57 0.00 5,456,641.80 0.00 413,595,787.85

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 1,882,627.91 0.00 0.00 0.00 1,882,627.91 0.00 0.00

B1 42,003.57 0.00 0.00 0.00 42,003.57 0.00 0.00

B2 16,389.36 0.00 0.00 0.00 16,389.36 0.00 0.00

B3 8,194.68 0.00 0.00 0.00 8,194.68 0.00 0.00

B4 7,169.18 0.00 0.00 0.00 7,169.18 0.00 0.00

B5 6,143.68 0.00 0.00 0.00 6,143.68 0.00 0.00

B6 3,087.62 0.00 0.00 0.00 3,087.62 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 14,797.68 N/A N/A

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

1,965,616.00 0.00 0.00 0.00 1,980,413.68 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 4135957.88

Advance Information

Aggregate Advances Required: N/A

Aggregate Advances Made: 2,259,223.85

N/A

Delinquency Statistics

1 Month 2 Months 3+ Months Foreclosure Bankruptcy REO Total

# of Loans 17 3 0 2 4 1 27

Schedule Principal Balance 3,061,510.49 625,624.71 0.00 164,083.24 747,130.57 247,176.37 4,845,525.38

Collateral Information:

Pool

Beginning Aggregate Principal Balance 419,052,430.22

Scheduled Principal 448,282.22

Unscheduled Principal 5,008,359.57

Liquidation Proceeds 0.00

Insurance Proceeds 0.00

Ending Aggregate Principal Balance 413,595,788.43 Original Certificate Ratings

S&P Moody's

Loan Count Beginning 2,280 Class Rating Rating

Payoffs 27 1-A1 AAA Aaa

Ending 2,253 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 87,302.59

Loan Number Principal Balance

Deleted Mortgage Loans

Qualifying Substitute Mortgage Loans

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

					Payment Date:	December 27, 2004
					Record Date:	November 30, 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	5.6287%	Variable	421,776,000.00	401,360,080.11	5,437,715.36
B1	86359BSD4	5.6287%	Variable	9,011,000.00	8,954,800.52	9,579.42
B2	86359BSE2	5.6287%	Variable	3,516,000.00	3,494,071.54	3,737.79
B3	86359BSF9	5.6287%	Variable	1,758,000.00	1,747,035.78	1,868.90
B4	86359BSH5	5.6287%	Variable	1,538,000.00	1,528,407.86	1,635.02
B5	86359BSJ1	5.6287%	Variable	1,318,000.00	1,309,779.94	1,401.14
B6	86359BSK8	5.6287%	Variable	662,385.00	658,253.90	704.17
R	86359BSG7	5.6287%	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	419,052,429.65	5,456,641.80

Interest	Total	Realized	Ending
Distribution	Distribution	Loss	Balance
1,882,627.91	7,320,343.27	0.00	395,922,364.75
42,003.57	51,582.99	0.00	8,945,221.10
16,389.36	20,127.15	0.00	3,490,333.75
8,194.68	10,063.58	0.00	1,745,166.88
7,169.18	8,804.20	0.00	1,526,772.84
6,143.68	7,544.82	0.00	1,308,378.80
3,087.62	3,791.79	0.00	657,549.73
0.00	0.00	0.00	0.00
14,797.68	14,797.68	N/A	N/A
0.00	0.00	N/A	N/A
1,980,413.68	7,437,055.48	0.00	413,595,787.85

Distribution Amount Per $1,000
	Beginning	Principal	Interest	Realized	Ending
Class	Balance	Distribution	Distribution	Loss	Balance
1-A1	951.59534946	12.89242480	4.46357287	0.00000000	938.70292466
B1	993.76323603	1.06308068	4.66136611	0.00000000	992.70015535
B2	993.76323702	1.06308020	4.66136519	0.00000000	992.70015681
B3	993.76323986	1.06308305	4.66136519	0.00000000	992.70015681
B4	993.76323850	1.06308192	4.66136541	0.00000000	992.70015658
B5	993.76322910	1.06308042	4.66136571	0.00000000	992.70014867
B6	993.76329498	1.06308139	4.66136763	0.00000000	992.70021358
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	401,360,080.11	429,355.79	5,008,359.57	0.00	5,437,715.36	0.00	395,922,364.75
B1	8,954,800.52	9,579.42	0.00	0.00	9,579.42	0.00	8,945,221.10
B2	3,494,071.54	3,737.79	0.00	0.00	3,737.79	0.00	3,490,333.75
B3	1,747,035.78	1,868.90	0.00	0.00	1,868.90	0.00	1,745,166.88
B4	1,528,407.86	1,635.02	0.00	0.00	1,635.02	0.00	1,526,772.84
B5	1,309,779.94	1,401.14	0.00	0.00	1,401.14	0.00	1,308,378.80
B6	658,253.90	704.17	0.00	0.00	704.17	0.00	657,549.73
R	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	419,052,429.65	448,282.23	5,008,359.57	0.00	5,456,641.80	0.00	413,595,787.85

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	1,882,627.91	0.00	0.00	0.00	1,882,627.91	0.00	0.00
B1	42,003.57	0.00	0.00	0.00	42,003.57	0.00	0.00
B2	16,389.36	0.00	0.00	0.00	16,389.36	0.00	0.00
B3	8,194.68	0.00	0.00	0.00	8,194.68	0.00	0.00
B4	7,169.18	0.00	0.00	0.00	7,169.18	0.00	0.00
B5	6,143.68	0.00	0.00	0.00	6,143.68	0.00	0.00
B6	3,087.62	0.00	0.00	0.00	3,087.62	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	14,797.68	N/A	N/A
E	N/A	N/A	N/A	N/A	0.00	N/A	N/A
	1,965,616.00	0.00	0.00	0.00	1,980,413.68	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	4135957.88

Aggregate Advances Required:				N/A
Aggregate Advances Made:				2,259,223.85
				N/A

	1 Month	2 Months	3+ Months	Foreclosure	Bankruptcy	REO	Total
# of Loans	17	3	0	2	4	1	27
Schedule Principal Balance	3,061,510.49	625,624.71	0.00	164,083.24	747,130.57	247,176.37	4,845,525.38

Collateral Information:
			Pool
Beginning Aggregate Principal Balance			419,052,430.22

Scheduled Principal			448,282.22
Unscheduled Principal			5,008,359.57
Liquidation Proceeds			0.00
Insurance Proceeds			0.00

Ending Aggregate Principal Balance		413,595,788.43	Original Certificate Ratings
				S&P	Moody's
Loan Count	Beginning	2,280	Class	Rating	Rating
	Payoffs	27	1-A1	AAA	Aaa
	Ending	2,253	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		87,302.59