8-K 1 sai03bc2.txt MAY 8K 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): May 27, 2003 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-03 Pending Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On May 27, 2003 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2003-BC2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC2 Trust, relating to the May 27, 2003 distribution. 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. STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2003-BC2 Trust By: Wells Fargo Bank Minnesota, N.A., as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 5/28/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-BC2 Trust, relating to the May 27, 2003 distribution.

~~SECURITIES~~Structured ~~AND~~Asset ~~EXCHANGE~~Investment ~~COMMISSION~~Loan Trust Mortgage Pass-Through Certificates Record Date: 4/30/03 Distribution Date: 5/27/03 SAIL Series: 2003-BC2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 86358EAJ5 SEN 1.66000% 618,985,868.46 913,348.04 7,568,767.24 A2 86358EAK2 SEN 1.68000% 343,766,214.64 513,357.55 3,473,321.27 A3 86358EAL0 SEN 1.67000% 389,726,382.73 578,527.16 14,514,527.74 A-IO 86358EAM8 IO 6.00000% 0.00 2,569,155.00 0.00 M1 86358EAN6 MEZ 2.24000% 97,317,000.00 193,768.96 0.00 M2 86358EAP1 MEZ 3.27000% 38,926,000.00 113,144.91 0.00 M3 86358EAQ9 MEZ 4.57000% 15,571,000.00 63,252.86 0.00 M4A 86358EAR7 MEZ 5.32000% 9,678,000.00 45,766.19 0.00 M4F 86358EAT3 MEZ 7.00000% 2,000,000.00 11,666.67 0.00 B 86358EAS5 SEN 7.00000% 11,678,000.00 68,121.67 0.00 X ARC03BC2X SEN 0.00000% 10,121,033.74 4,060,732.62 0.00 P ARC03BC2P SEN 0.00000% 100.00 567,233.53 0.00 R1 ARC03B2R1 SEN 0.00000% 0.00 0.00 0.00 R2 ARC03B2R2 SEN 0.00000% 0.00 0.00 0.00 R3 ARC03B2R3 SEN 0.00000% 0.00 0.00 0.00 Totals 1,537,769,599.50 9,698,075.16 25,556,616.25

~~Washington~~Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 611,417,101.22 D8,482,115.C28 0. ~~20549~~00 A2 0.00 340,292,893.37 3,986,678.82 0.00 A3 0.00 375,211,854.99 15,093,054.90 0.00 A-IO 0.00 0.00 2,569,155.00 0.00 M1 0.00 97,317,000.00 193,768.96 0.00 M2 0.00 38,926,000.00 113,144.91 0.00 M3 0.00 15,571,000.00 63,252.86 0.00 M4A 0.00 9,678,000.00 45,766.19 0.00 M4F 0.00 2,000,000.00 11,666.67 0.00 B 0.00 11,678,000.00 68,121.67 0.00 X 0.00 10,121,133.74 4,060,732.62 0.00 P 0.00 100.00 567,233.53 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 1,512,213,083.32 35,254,691.41 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~FORM~~Principal 8Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 624,271,000.00 618,985,868.46 0.00 7,568,767.24 0.00 0.00 A2 345,932,000.00 343,766,214.64 0.00 3,473,321.27 0.00 0.00 A3 401,571,000.00 389,726,382.73 0.00 14,514,527.74 0.00 0.00 A-KIO 0.00 0.00 0.00 0.00 0.00 0.00 M1 97,317,000.00 97,317,000.00 0.00 0.00 0.00 0.00 M2 38,926,000.00 38,926,000.00 0.00 0.00 0.00 0.00 M3 15,571,000.00 15,571,000.00 0.00 0.00 0.00 0.00 M4A 9,678,000.00 9,678,000.00 0.00 0.00 0.00 0.00 M4F 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00 X 10,121,033.74 10,121,033.74 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,545,387,133.7 1,526,091,599.57 0.00 25,556,616.25 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~CURRENT~~Principal ~~REPORT~~Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 7,568,767.24 611,417,101.22 0.97940975 7,568,767.24 A2 3,473,321.27 340,292,893.37 0.98369880 3,473,321.27 A3 14,514,527.74 375,211,854.99 0.93435994 14,514,527.74 A-IO 0.00 0.00 0.00000000 0.00 M1 0.00 97,317,000.00 1.00000000 0.00 M2 0.00 38,926,000.00 1.00000000 0.00 M3 0.00 15,571,000.00 1.00000000 0.00 M4A 0.00 9,678,000.00 1.00000000 0.00 M4F 0.00 2,000,000.00 1.00000000 0.00 X 0.00 10,121,133.74 1.00000988 0.00 P 0.00 100.00 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 25,556,616.25 1,500,535,083.32 0.97097682 25,556,616.25

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OROriginal Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 624,271,000.00 991.53391469 0.00000000 12.12416921 0.00000000 A2 345,932,000.00 993.73927431 0.00000000 10.04047405 0.00000000 A3 401,571,000.00 970.50430118 0.00000000 36.14436237 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 97,317,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 38,926,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 15,571,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4A 9,678,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4F 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 11,678,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 10,121,033.74 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (d2) OFAll ~~THE~~Classes are Per $1,000 Denomination

~~SECURITIES~~Principal ~~AND~~Distribution ~~EXCHANGE~~Factors ~~ACT~~Statement OF(continued) ~~1934~~Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 12.12416921 979.40974548 0.97940975 12.12416921 A2 0.00000000 10.04047405 983.69880026 0.98369880 10.04047405 A3 0.00000000 36.14436237 934.35993882 0.93435994 36.14436237 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4A 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M4F 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00988041 1.00000988 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Date~~Interest ofDistribution ~~Report~~Statement ~~(Date~~Beginning Payment of ~~earliest~~Original ~~event~~Current ~~reported)~~Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 624,271,000.00 1.66000% 618,985,868.46 913,348.04 0.00 0.00 A2 345,932,000.00 1.68000% 343,766,214.64 513,357.55 0.00 0.00 A3 401,571,000.00 1.67000% 389,726,382.73 578,527.16 0.00 0.00 A-IO 0.00 6.00000% 513,831,001.00 2,569,155.00 0.00 0.00 M1 97,317,000.00 2.24000% 97,317,000.00 193,768.96 0.00 0.00 M2 38,926,000.00 3.27000% 38,926,000.00 113,144.91 0.00 0.00 M3 15,571,000.00 4.57000% 15,571,000.00 63,252.86 0.00 0.00 M4A 9,678,000.00 5.32000% 9,678,000.00 45,766.19 0.00 0.00 M4F 2,000,000.00 7.00000% 2,000,000.00 11,666.67 0.00 0.00 B 11,678,000.00 7.00000% 11,678,000.00 68,121.67 0.00 0.00 X 10,121,033.74 0.00000% 10,121,033.74 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,557,065,133.7 5,070,109.01 0.00 0.00

~~March~~Interest 28Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 913,348.04 ~~2003~~0.00 611,417,101.22 A2 0.00 0.00 513,357.55 0.00 340,292,893.37 A3 0.00 0.00 578,527.16 0.00 375,211,854.99 A-IO 0.00 0.00 2,569,155.00 0.00 513,831,001.00 M1 0.00 0.00 193,768.96 0.00 97,317,000.00 M2 0.00 0.00 113,144.91 0.00 38,926,000.00 M3 0.00 0.00 63,252.86 0.00 15,571,000.00 M4A 0.00 0.00 45,766.19 0.00 9,678,000.00 M4F 0.00 0.00 11,666.67 0.00 2,000,000.00 B 0.00 0.00 68,121.67 0.00 11,678,000.00 X 0.00 0.00 4,060,732.62 0.00 10,121,133.74 P 0.00 0.00 567,233.53 0.00 100.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 9,698,075.16 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~SECURITIES~~Factors ~~CORPORATION~~Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (as5) ~~Depositor~~Amount ~~under~~Rate ~~the~~Balance ~~Trust~~Interest ~~Agreement~~Shortfall Shortfall A1 624,271,000.00 ~~dated~~1.66000% as991.53391469 of1.46306338 ~~March~~0.00000000 0.00000000 A2 345,932,000.00 1.68000% 993.73927431 1.48398399 0.00000000 0.00000000 A3 401,571,000.00 ~~2003~~1.67000% 970.50430118 1.44065971 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 4.99999999 0.00000000 0.00000000 M1 97,317,000.00 ~~providing~~2.24000% ~~for~~1000.00000000 ~~the~~1.99111111 ~~issuance~~0.00000000 of0.00000000 ~~Structured~~M2 ~~Asset~~38,926,000.00 ~~Investment~~3.27000% ~~Loan~~1000.00000000 ~~Trust~~2.90666675 ~~Mortgage~~0.00000000 ~~Pass-Through~~0.00000000 ~~Certificates~~M3 15,571,000.00 ~~Series~~4.57000% ~~2003-BC2~~1000.00000000 4.06222208 0.00000000 0.00000000 M4A 9,678,000.00 5.32000% 1000.00000000 4.72888923 0.00000000 0.00000000 M4F 2,000,000.00 7.00000% 1000.00000000 5.83333500 0.00000000 0.00000000 B 11,678,000.00 7.00000% 1000.00000000 5.83333362 0.00000000 0.00000000 X 10,121,033.74 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

~~Structured~~Interest ~~Asset~~Distribution ~~Securities~~Factors ~~Corporation~~ Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000000 0.00000000 1.46306338 0.00000000 979.40974548 A2 0.00000000 0.00000000 1.48398399 0.00000000 983.69880026 A3 0.00000000 0.00000000 1.44065971 0.00000000 934.35993882 A-IO 0.00000000 0.00000000 4.99999999 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.99111111 0.00000000 1000.00000000 M2 0.00000000 0.00000000 2.90666675 0.00000000 1000.00000000 M3 0.00000000 0.00000000 4.06222208 0.00000000 1000.00000000 M4A 0.00000000 0.00000000 4.72888923 0.00000000 1000.00000000 M4F 0.00000000 0.00000000 5.83333500 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.83333362 0.00000000 1000.00000000 X 0.00000000 0.00000000 401.21718041 0.00000000 1000.00988041 P 0.00000000 0.00000000 5672335.30000000 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 35,919,136.06 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (~~Exact~~Servicer ~~Name~~Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 35,919,136.06 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of ~~Registrant~~Service asFee ~~Specified~~664,444.65 inPayment ~~its~~of ~~Charter~~Interest and Principal 35,254,691.41 Total Withdrawals (Pool Distribution Amount) 35,919,136.06 Ending Balance 0.00

~~Delaware~~PREPAYMENT/CURTAILMENT ~~(State~~INTEREST orSHORTFALL ~~Other~~Total ~~Jurisdiction~~Prepayment/Curtailment ofInterest ~~Incorporation)~~Shortfall ~~333-102489~~0.00 ~~(Commission~~Servicing ~~File~~Fee ~~Number)~~Support 740.00 Non-~~2440850~~Supported ~~(I.R.S.~~Prepayment/Curtailment ~~Employer~~Interest ~~Identification~~Shortfall No0.)00

~~745~~SERVICING ~~Seventh~~FEES ~~Avenue~~Gross Servicing Fee 640,737.34 ~~7th~~Credit ~~Floor~~Risk ~~New~~Management ~~York~~Fee 19,222.12 ~~New~~Securities ~~York~~Adminstration ~~(Address~~Fee of4,485.19 ~~Principal~~Supported ~~Executive~~Prepayment/Curtailment ~~Offices)~~Interest ~~10019~~Shortfall ~~(Zip~~0.00 ~~Code)~~Net Servicing Fee 664,444.65

~~Registrant’s~~OTHER ~~telephone~~ACCOUNTS ~~number~~Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~including~~57,943.91 ~~area~~57,943.91 ~~code: (212)~~1,000.00 ~~526-7000~~Financial Guaranty 0.00 0.00 0.00 0.00

~~None~~ LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 11 7 0 18 898,200.41 703,076.89 0.00 1,601,277.30 30 Days 60 0 2 0 62 8,520,346.20 0.00 215,836.15 0.00 8,736,182.35 60 Days 25 0 2 0 27 3,577,957.14 0.00 211,907.91 0.00 3,789,865.05 90 Days 2 0 0 0 2 271,262.67 0.00 0.00 0.00 271,262.67 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 10 0 0 0 10 751,738.70 0.00 0.00 0.00 751,738.70 Totals 97 11 11 0 119 13,121,304.71 898,200.41 1,130,820.95 0.00 15,150,326.07 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.111800% 0.071145% 0.000000% 0.182945% 0.059360% 0.046465% 0.000000% 0.105825% 30 Days 0.609818% 0.000000% 0.020327% 0.000000% 0.630145% 0.563091% 0.000000% 0.014264% 0.000000% 0.577355% 60 Days 0.254091% 0.000000% 0.020327% 0.000000% 0.274418% 0.236459% 0.000000% 0.014005% 0.000000% 0.250464% 90 Days 0.020327% 0.000000% 0.000000% 0.000000% 0.020327% 0.017927% 0.000000% 0.000000% 0.000000% 0.017927% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.101636% 0.000000% 0.000000% 0.000000% 0.101636% 0.049681% 0.000000% 0.000000% 0.000000% 0.049681% Totals 0.985873% 0.111800% 0.111800% 0.000000% 1.209473% 0.867159% 0.059360% 0.074734% 0.000000% 1.001252%

~~(Former~~Delinquency ~~Name~~Status orBy ~~Former~~Groups ~~Address~~DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 325,128.25 if0.00 ~~Changed~~0.00 ~~Since~~0.00 ~~Last~~325,128.25 ~~Report)~~60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4 0 0 0 4 325,128.25 0.00 0.00 0.00 325,128.25 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.377003% 0.000000% 0.000000% 0.000000% 0.377003% 0.229270% 0.000000% 0.000000% 0.000000% 0.229270% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.377003% 0.000000% 0.000000% 0.000000% 0.377003% 0.229270% 0.000000% 0.000000% 0.000000% 0.229270% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 15 0 0 0 15 2,176,565.50 0.00 0.00 0.00 2,176,565.50 60 Days 1 0 0 0 1 197,108.53 0.00 0.00 0.00 197,108.53 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 16 0 0 0 16 2,373,674.03 0.00 0.00 0.00 2,373,674.03 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.420639% 0.000000% 0.000000% 0.000000% 0.420639% 0.392607% 0.000000% 0.000000% 0.000000% 0.392607% 60 Days 0.028043% 0.000000% 0.000000% 0.000000% 0.028043% 0.035554% 0.000000% 0.000000% 0.000000% 0.035554% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.448682% 0.000000% 0.000000% 0.000000% 0.448682% 0.428162% 0.000000% 0.000000% 0.000000% 0.428162% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 4 0 0 0 4 374,854.46 0.00 0.00 0.00 374,854.46 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 4 0 0 0 4 374,854.46 0.00 0.00 0.00 374,854.46 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.849257% 0.000000% 0.000000% 0.000000% 0.849257% 0.646471% 0.000000% 0.000000% 0.000000% 0.646471% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.849257% 0.000000% 0.000000% 0.000000% 0.849257% 0.646471% 0.000000% 0.000000% 0.000000% 0.646471% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 4 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 5 4 0 9 580,456.67 456,867.26 0.00 1,037,323.93 30 Days 7 0 1 0 8 851,945.42 0.00 62,196.92 0.00 914,142.34 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 7 5 5 0 17 851,945.42 580,456.67 519,064.18 0.00 1,951,466.27 0-29 Days 0.215703% 0.172563% 0.000000% 0.388266% 0.176289% 0.138754% 0.000000% 0.315043% 30 Days 0.301984% 0.000000% 0.043141% 0.000000% 0.345125% 0.258742% 0.000000% 0.018890% 0.000000% 0.277631% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.301984% 0.215703% 0.215703% 0.000000% 0.733391% 0.258742% 0.176289% 0.157643% 0.000000% 0.592674% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 5 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 3 1 0 4 110,660.16 70,524.77 0.00 181,184.93 30 Days 16 0 1 0 17 1,703,702.10 0.00 153,639.23 0.00 1,857,341.33 60 Days 7 0 2 0 9 422,388.51 0.00 211,907.91 0.00 634,296.42 90 Days 1 0 0 0 1 136,262.67 0.00 0.00 0.00 136,262.67 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 10 0 0 0 10 751,738.70 0.00 0.00 0.00 751,738.70 Totals 34 3 4 0 41 3,014,091.98 110,660.16 436,071.91 0.00 3,560,824.05 0-29 Days 0.175029% 0.058343% 0.000000% 0.233372% 0.058509% 0.037289% 0.000000% 0.095798% 30 Days 0.933489% 0.000000% 0.058343% 0.000000% 0.991832% 0.900798% 0.000000% 0.081234% 0.000000% 0.982032% 60 Days 0.408401% 0.000000% 0.116686% 0.000000% 0.525088% 0.223329% 0.000000% 0.112042% 0.000000% 0.335372% 90 Days 0.058343% 0.000000% 0.000000% 0.000000% 0.058343% 0.072046% 0.000000% 0.000000% 0.000000% 0.072046% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.583431% 0.000000% 0.000000% 0.000000% 0.583431% 0.397467% 0.000000% 0.000000% 0.000000% 0.397467% Totals 1.983664% 0.175029% 0.233372% 0.000000% 2.392065% 1.593641% 0.058509% 0.230564% 0.000000% 1.882715% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 6 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 3 2 0 5 207,083.58 175,684.86 0.00 382,768.44 30 Days 14 0 0 0 14 3,088,150.47 0.00 0.00 0.00 3,088,150.47 60 Days 17 0 0 0 17 2,958,460.10 0.00 0.00 0.00 2,958,460.10 90 Days 1 0 0 0 1 135,000.00 0.00 0.00 0.00 135,000.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 32 3 2 0 37 6,181,610.57 207,083.58 175,684.86 0.00 6,564,379.01 0-29 Days 0.423131% 0.282087% 0.000000% 0.705219% 0.086085% 0.073032% 0.000000% 0.159117% 30 Days 1.974612% 0.000000% 0.000000% 0.000000% 1.974612% 1.283743% 0.000000% 0.000000% 0.000000% 1.283743% 60 Days 2.397743% 0.000000% 0.000000% 0.000000% 2.397743% 1.229831% 0.000000% 0.000000% 0.000000% 1.229831% 90 Days 0.141044% 0.000000% 0.000000% 0.000000% 0.141044% 0.056119% 0.000000% 0.000000% 0.000000% 0.056119% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 4.513399% 0.423131% 0.282087% 0.000000% 5.218618% 2.569694% 0.086085% 0.073032% 0.000000% 2.728810%

~~Item~~OTHER 5INFORMATION Current Period Class A Insufficient Funds 0. ~~Other~~00 ~~Events~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00

~~The~~COLLATERAL ~~Registrant~~STATEMENT ~~registered~~Collateral ~~issuances~~Description ofMixed ~~its~~Fixed ~~Structured~~& ~~Asset~~Arm ~~Investment~~Weighted ~~Loan~~Average ~~Trust~~Gross ~~Mortgage~~Coupon ~~Pass-Through~~8.223791% ~~Certificates~~Weighted ~~Series~~Average ~~2003-BC2~~Net onCoupon a7.111760% ~~delayed~~Weighted orAverage ~~continuous~~Pass-Through ~~basis~~Rate ~~pursuant~~7.108260% toWeighted ~~Rule~~Average ~~415~~Maturity(Stepdown ~~under~~Calculation ~~the~~) ~~Securities~~353 ~~Act~~Beginning ofScheduled ~~1933,~~Collateral asLoan ~~amended~~Count ~~(the “Act”)~~10,014 byNumber aOf ~~Registration~~Loans ~~Statement~~Paid onIn ~~Form~~Full ~~S-3~~175 ~~(Registration~~Ending ~~File~~Scheduled ~~No.~~Collateral ~~333-102489)~~Loan ~~(the~~Count ~~“Registration Statement”). Pursuant to the Registration Statement~~9,839 ~~the~~Beginning ~~Registrant~~Scheduled ~~issued~~Collateral $Balance 1,~~546~~537,~~944~~769,~~000~~599.57 ~~aggregate~~Ending ~~principal~~Scheduled ~~amount~~Collateral ofBalance ~~Class A1~~1,512,212,983.32 ~~Class~~Ending ~~A2,~~Actual ~~Class~~Collateral ~~A3,~~Balance ~~Class~~at A30-~~IO,~~Apr-2003 ~~Class M1~~1, ~~Class M2~~513, ~~Class M3~~137,678.94 ~~Class~~Monthly ~~M4-A,~~P ~~Class~~&I ~~M4-F~~Constant ~~and Class B Certificates of its Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates~~11,573,475.03 ~~Series~~Special ~~2003-BC2~~Servicing onFee ~~March 28, 2003~~0. ~~This~~00 ~~Current~~Prepayment ~~Report~~Penalties on0.00 ~~Form~~Realized ~~8-K~~Loss isAmount ~~being~~0.00 ~~filed~~Cumulative toRealized ~~satisfy~~Loss an0.00 ~~undertaking,~~Ending ~~contained~~Scheduled inBalance ~~the~~for ~~definitive~~Premium ~~Prospectus~~Loans ~~dated March 20~~1, ~~2003~~512, ~~as supplemented by the Prospectus Supplement dated March 27~~212,983.32 ~~2003~~Scheduled ~~(the~~Principal ~~“Prospectus Supplement”)~~1, ~~to file a copy of the Trust Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates~~034,894.82 aUnscheduled ~~form~~Principal ~~of which was filed as an exhibit to the Registration Statement~~24,521,721.43

~~The~~COLLATERAL ~~Certificates~~STATEMENT ~~were~~Collateral ~~issued~~Description ~~pursuant~~Mixed toFixed a& ~~Trust~~Arm ~~Agreement~~Weighted ~~(the~~Average ~~“Trust~~Coupon ~~Agreement”),~~Rate ~~attached hereto as Exhibit 4~~8.1,223791% ~~dated~~Weighted asAverage ofNet ~~March~~Rate 1,7.111760% ~~2003,~~Weighted ~~among~~Average ~~Structured~~Pass ~~Asset~~Through ~~Securities~~Rate ~~Corporation,~~7.108260% asWeighted ~~depositor,~~Average ~~Aurora~~Maturity ~~Loan~~353 ~~Services~~Record ~~Inc.,~~Date as04/30/2003 ~~Master~~Principal ~~Servicer,~~and ~~The~~Interest ~~Murrayhill~~Constant ~~Company~~11,573,475.03 asBeginning ~~Credit~~Loan ~~Risk~~Count ~~Manager~~10,014 ~~Wells~~Loans ~~Fargo~~Paid ~~Bank~~in ~~Minnesota,~~Full ~~National~~175 ~~Association,~~Ending asLoan ~~Securities~~Count ~~Administrator~~9,839 ~~and~~Beginning ~~LaSalle~~Scheduled ~~Bank~~Balance ~~National Association~~1, ~~as Trustee~~537,769,599. ~~The~~57 ~~“Certificates”~~Ending ~~consist~~Scheduled ofBalance ~~the following classes: Class A1~~1, ~~Class A2~~512, ~~Class A3~~212,983.32 ~~Class~~Ending ~~A-IO,~~Actual ~~Class~~Balance ~~M1,~~at ~~Class~~30-Apr-2003 M21, ~~Class M3~~513, ~~Class M4-A~~137,678.94 ~~Class~~Scheduled ~~M4-F,~~Principal ~~Class B~~1, ~~Class P~~034,894.82 ~~Class~~Unscheduled XPrincipal ~~and Class R~~24,521,721. ~~The~~43 ~~Certificates~~Scheduled ~~evidence~~Interest ~~all~~10,538,580.21 ofServicing ~~the~~Fee ~~beneficial~~640,737.34 ~~ownership~~Master ~~interest~~Servicing inFee a0.00 ~~trust~~Trustee ~~fund~~Fee ~~(the~~0.00 ~~“Trust~~FRY ~~Fund”)~~Amount ~~that~~0.00 ~~consists~~Special ~~primarily~~Hazard ofFee ~~three~~0.00 ~~pools~~Other ofFee ~~certain conventional~~784,302.76 ~~first~~Pool ~~and~~Insurance ~~second~~Fee ~~lien,~~0.00 ~~fixed~~Spread ~~and~~1 ~~adjustable~~0.00 ~~rate,~~Spread ~~fully~~2 ~~amortizing~~0.00 ~~and~~Spread ~~balloon,~~3 ~~residential~~0.00 ~~mortgage~~Net ~~loans~~Interest ~~(the “Mortgage Loans”) with an aggregate outstanding principal balance of $1~~9,~~557~~113,~~065,133~~540.7411 asRealized ofLoss ~~March~~Amount 1,0.00 ~~2003,~~Cumulative ~~together~~Realized ~~with~~Loss ~~certain other assets~~0. ~~Capitalized~~00 ~~terms~~Percentage ~~used~~of ~~herein~~Cumulative ~~and~~Losses ~~not~~0.00 ~~otherwise~~Special ~~defined~~Servicing ~~shall~~Fee ~~have~~0.00 ~~the~~Prepayment ~~meanings~~Penalties ~~assigned to them in the Trust Agreement~~0.00

~~Item~~Miscellaneous 7Reporting Monthly Excess Cashflow 4,019,723. ~~Financial~~85 ~~Statements;~~Overcollateralization ~~Pro~~Amount ~~Forma~~10,121,133.74 ~~Financial~~Overcollateralization ~~Information~~Deficiency ~~and~~0.00 ~~Exhibits~~Aggregate Overcollateralization Release 0.00 Targeted Overcollateralization Amount 10,121,133.74 Cap Payment 41,008.77

~~(a)~~Group Level Collateral Statement Group 1 2 3 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.129002 8.019421 8.389775 Weighted Average Net Rate 7.629002 7.519421 7.889775 Weighted Average Maturity 353 353 351 Beginning Loan Count 1,068 3,600 475 Loans Paid In Full 7 34 4 Ending Loan Count 1,061 3,566 471 Beginning Scheduled Balance 142,867,267.43 560,441,275.65 58,408,564.73 Ending scheduled Balance 141,707,728.22 554,032,047.62 57,952,740.53 Record Date 04/30/2003 04/30/2003 04/30/2003 Principal And Interest Constant 1,094,709.86 4,140,865.02 458,581.26 Scheduled Principal 126,902.98 395,519.66 50,219.02 Unscheduled Principal 1,032,636.23 6,013,708.37 405,605.18 Scheduled Interest 967,806.88 3,745,345.36 408,362.24 Servicing Fees 59,528.04 233,517.20 24,336.89 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 46,704.78 371,715.59 26,383.45 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 861,574.06 3,140,112.57 357,641.90 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.236709 6.723515 7.347729

~~Not~~Group ~~applicable~~Level Collateral Statement Group 4 5 6 Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 8.192481 9.510058 7.706541 Weighted Average Net Rate 7.692481 9.010058 7.206541 Weighted Average Maturity 351 328 328 Beginning Loan Count 2,335 1,815 721 Loans Paid In Full 17 101 12 Ending Loan Count 2,318 1,714 709 Beginning Scheduled Balance 332,084,383.24 198,736,961.01 245,231,147.51 Ending scheduled Balance 329,066,886.17 189,082,533.58 240,371,047.20 Record Date 04/30/2003 04/30/2003 04/30/2003 Principal And Interest Constant 2,493,587.57 1,627,218.69 1,758,512.63 Scheduled Principal 226,425.09 52,218.63 183,609.44 Unscheduled Principal 2,791,071.98 9,602,208.80 4,676,490.87 Scheduled Interest 2,267,162.48 1,575,000.06 1,574,903.19 Servicing Fees 138,368.47 82,807.08 102,179.66 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 206,266.26 53,964.80 83,753.07 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,922,527.75 1,438,228.18 1,388,970.46 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.947130 8.684212 6.796708

~~(b)~~Group Level Collateral Statement Group Total Collateral Description Mixed Fixed & Arm Weighted Average Coupon Rate 8.223791 Weighted Average Net Rate 7.111760 Weighted Average Maturity 353.00 Record Date 04/30/2003 Principal And Interest Constant 11,573,475.03 Beginning Loan Count 10,014 Loans Paid In Full 175 Ending Loan Count 9,839 Beginning Scheduled Balance 1,537,769,599.57 Ending Scheduled Balance 1,512,212,983.32 Scheduled Principal 1,034,894.82 Unscheduled Principal 24,521,721.43 Scheduled Interest 10,538,580.21 Servicing Fee 640,737.34 Master Servicing Fee 0.00 Trustee Fee 0.00 Fry Amount 0.00 Special Hazard Fee 0.00 Other Fee 788,787.95 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 9,109,054.92 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 7.108260

Not applicable.

(c)

Exhibits:

1.1

Terms Agreement, dated March 27, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as Representative of the Underwriters.

4.1

Trust Agreement, dated as of March 1, 2003, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services Inc., as Master Servicer, The Murrayhill Company, as Credit Risk Manager, Wells Fargo Bank Minnesota, National Association, as Securities Administrator, and LaSalle Bank National Association, as Trustee.

99.1

Mortgage Loan Sale and Assignment Agreement, dated as of March 1, 2003, between Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.2

Mortgage Loan Sale and Assignment Agreement, dated as of March 1, 2003, between Lehman Brothers Bank, FSB, as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.3

Securitization Servicing Agreement, dated as of March 1, 2003, by and between Lehman Brothers Holdings Inc. and Lehman Brothers Bank, FSB, as Sellers, Aurora Loan Services Inc., as Master Servicer, and Ocwen Federal Bank FSB, as Servicer.

99.4

Subservicing Agreement, dated as of March 1, 2003, among Lehman Brothers Holdings Inc. and Lehman Brothers Bank, FSB, as Sellers, Aurora Loan Services Inc., as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.5

Servicing Agreement, dated as of March 1, 2003, by and between Lehman Brothers Bank, FSB and Lehman Brothers Holdings Inc., as Sellers, and Aurora Loan Services Inc. in the dual capacities of Master Servicer and Servicer.

99.6

Securitization Servicing Agreement, dated as of March 1, 2003, by and between Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc., as Master Servicer, and Fairbanks Capital Corp., as Servicer.

99.7

Securitization Servicing Agreement, dated as of March 1, 2003, by and between Lehman Capital, a division of Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc, as Master Servicer, and Wilshire Credit Corporation, as Servicer.

99.8

Mortgage Guaranty Insurance Corporation (“MGIC”), Master Policy (No. 12-670-4-3041), including (i) the Master Policy Declaration Page (form #71-70035); (ii) the Terms and Conditions (form #71-7135); (iii) Endorsements #71-70192 (8/01) and #71-70201 (10/01) and (iv) the MGIC Commitment Certificate (form #71-7066) covering certain first lien Mortgage Loans with original Loan-to-Value Ratios in excess of 80%.

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.

STRUCTURED ASSET SECURITIES

CORPORATION

By: /s/Ellen V. Kiernan

Name: Ellen V. Kiernan

Title: Senior Vice President

Dated: March 28, 2003

EXHIBIT INDEX

Exhibit No.

Description

Page No.

1.1

Filing Compare · STRUCTURED ASSET INVESTMENT LOAN TRUST 2003-BC2