8-K 1 sai04007_aug.txt AUGUST 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): August 25, 2004 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2004-7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-115858-07 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, 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) 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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 August 25, 2004 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2004-7 Trust . ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the August 25, 2004 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 2004-7 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/3/04 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-7 Trust, relating to the August 25, 2004 distribution. EX-99.1

~~UNITED~~Structured ~~STATES~~Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 7/31/04 Distribution Date: 8/25/04 SAIL Series: 2004-7 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 86358EKB1 SEN 1.63500% 334,549,000.00 471,017.11 3,557,236.08 A2 86358EKC9 SEN 1.64500% 330,513,000.00 468,180.85 3,408,766.02 A3 86358EKD7 SEN 1.68000% 280,262,000.00 405,445.69 7,409,206.52 A4 86358EKE5 SEN 1.68000% 340,669,000.00 492,834.49 3,016,612.67 A5 86358EKF2 SEN 1.61000% 411,013,000.00 569,823.86 10,305,049.69 A6 86358EKG0 SEN 1.89000% 77,719,000.00 126,487.67 0.00 A7 86358EKH8 SEN 1.80000% 84,340,000.00 130,727.00 0.00 A8 86358EKJ4 SEN 1.98000% 34,697,000.00 59,158.39 0.00 A-SIO 86358EKK1 IO 0.12000% 0.00 223,617.56 0.00 M1 86358EKL9 MEZ 2.08000% 81,161,000.00 145,368.37 0.00 M2 86358EKM7 MEZ 2.13000% 37,876,000.00 69,470.90 0.00 M3 86358EKN5 MEZ 2.28000% 19,479,000.00 38,243.77 0.00 M4 86358EKP0 MEZ 2.73000% 23,807,000.00 55,966.29 0.00 M5 86358EKQ8 MEZ 3.23000% 27,054,000.00 75,247.69 0.00 M6 86358EKR6 MEZ 3.48000% 21,643,000.00 64,856.86 0.00 M7 86358EKS4 MEZ 3.88000% 27,053,000.00 90,387.08 0.00 B 86358EKT2 SUB 3.88000% 21,643,000.00 72,311.67 0.00 X SAI04007X SEN 0.00000% 0.00 7,425,197.85 0.00 P SAI04007P SEN 0.00000% 100.00 404,914.68 0.00 Totals 2,153,478,100.00 11,389,257.78 27,696,870.98

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 330,991,763.92 4,028,253.19 0.00 A2 0.00 327,104,233.98 3,876,946.87 0.00 A3 0.00 272,852,793.48 7,814,652.21 0.00 A4 0.00 337,652,387.33 3,509,447.16 0.00 A5 0.00 400,707,950.31 10,874,873.55 0.00 A6 0.00 77,719,000.00 126,487.67 0.00 A7 0.00 84,340,000.00 130,727.00 0.00 A8 0.00 34,697,000.00 59,158.39 0.00 A-SIO 0.00 0.00 223,617.56 0.00 M1 0.00 81,161,000.00 145,368.37 0.00 M2 0.00 37,876,000.00 69,470.90 0.00 M3 0.00 19,479,000.00 38,243.77 0.00 M4 0.00 23,807,000.00 55,966.29 0.00 M5 0.00 27,054,000.00 75,247.69 0.00 M6 0.00 21,643,000.00 64,856.86 0.00 M7 0.00 27,053,000.00 90,387.08 0.00 B 0.00 21,643,000.00 72,311.67 0.00 X 0.00 10,820,970.00 7,425,197.85 0.00 P 0.00 100.00 404,914.68 0.00 Totals 0.00 2,136,602,199.02 39,086,128.76 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~Washington~~Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 334,549,000.00 D334,549,000.C00 0. ~~20549~~00 3,557,236.08 0.00 0.00 A2 330,513,000.00 330,513,000.00 0.00 3,408,766.02 0.00 0.00 A3 280,262,000.00 280,262,000.00 0.00 7,409,206.52 0.00 0.00 A4 340,669,000.00 340,669,000.00 0.00 3,016,612.67 0.00 0.00 A5 411,013,000.00 411,013,000.00 0.00 10,305,049.69 0.00 0.00 A6 77,719,000.00 77,719,000.00 0.00 0.00 0.00 0.00 A7 84,340,000.00 84,340,000.00 0.00 0.00 0.00 0.00 A8 34,697,000.00 34,697,000.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M1 81,161,000.00 81,161,000.00 0.00 0.00 0.00 0.00 M2 37,876,000.00 37,876,000.00 0.00 0.00 0.00 0.00 M3 19,479,000.00 19,479,000.00 0.00 0.00 0.00 0.00 M4 23,807,000.00 23,807,000.00 0.00 0.00 0.00 0.00 M5 27,054,000.00 27,054,000.00 0.00 0.00 0.00 0.00 M6 21,643,000.00 21,643,000.00 0.00 0.00 0.00 0.00 M7 27,053,000.00 27,053,000.00 0.00 0.00 0.00 0.00 B 21,643,000.00 21,643,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 2,153,478,100.00 2,153,478,100.00 0.00 27,696,870.98 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.

~~FORM~~Principal 8Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 3,557,236.08 330,991,763.92 0.98936707 3,557,236.08 A2 3,408,766.02 327,104,233.98 0.98968644 3,408,766.02 A3 7,409,206.52 272,852,793.48 0.97356329 7,409,206.52 A4 3,016,612.67 337,652,387.33 0.99114503 3,016,612.67 A5 10,305,049.69 400,707,950.31 0.97492768 10,305,049.69 A6 0.00 77,719,000.00 1.00000000 0.00 A7 0.00 84,340,000.00 1.00000000 0.00 A8 0.00 34,697,000.00 1.00000000 0.00 A-KSIO 0.00 0.00 0.00000000 0.00 M1 0.00 81,161,000.00 1.00000000 0.00 M2 0.00 37,876,000.00 1.00000000 0.00 M3 0.00 19,479,000.00 1.00000000 0.00 M4 0.00 23,807,000.00 1.00000000 0.00 M5 0.00 27,054,000.00 1.00000000 0.00 M6 0.00 21,643,000.00 1.00000000 0.00 M7 0.00 27,053,000.00 1.00000000 0.00 B 0.00 21,643,000.00 1.00000000 0.00 X 0.00 10,820,970.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 27,696,870.98 2,136,602,199.02 0.99216342 27,696,870.98

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 334,549,000.00 1000.00000000 0.00000000 10.63292994 0.00000000 A2 330,513,000.00 1000.00000000 0.00000000 10.31356110 0.00000000 A3 280,262,000.00 1000.00000000 0.00000000 26.43671465 0.00000000 A4 340,669,000.00 1000.00000000 0.00000000 8.85496676 0.00000000 A5 411,013,000.00 1000.00000000 0.00000000 25.07232056 0.00000000 A6 77,719,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A7 84,340,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A8 34,697,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 81,161,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 37,876,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 19,479,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 23,807,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 27,054,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 21,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 27,053,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 21,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 100.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

~~PURSUANT~~Principal TODistribution ~~SECTION~~Factors 13Statement OR(continued) 15Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (d3) OFReduction ~~THE~~Balance Percentage Distribution A1 0.00000000 10.63292994 989.36707006 0.98936707 10.63292994 A2 0.00000000 10.31356110 989.68643890 0.98968644 10.31356110 A3 0.00000000 26.43671465 973.56328535 0.97356329 26.43671465 A4 0.00000000 8.85496676 991.14503324 0.99114503 8.85496676 A5 0.00000000 25.07232056 974.92767944 0.97492768 25.07232056 A6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-SIO 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 M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M7 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 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 100.00000000 1.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~SECURITIES~~Interest ~~EXCHANGE~~Distribution ~~ACT~~Statement OFBeginning ~~1934~~Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 334,549,000.00 1.63500% 334,549,000.00 471,017.11 0.00 0.00 A2 330,513,000.00 1.64500% 330,513,000.00 468,180.85 0.00 0.00 A3 280,262,000.00 1.68000% 280,262,000.00 405,445.69 0.00 0.00 A4 340,669,000.00 1.68000% 340,669,000.00 492,834.49 0.00 0.00 A5 411,013,000.00 1.61000% 411,013,000.00 569,823.86 0.00 0.00 A6 77,719,000.00 1.89000% 77,719,000.00 126,487.67 0.00 0.00 A7 84,340,000.00 1.80000% 84,340,000.00 130,727.00 0.00 0.00 A8 34,697,000.00 1.98000% 34,697,000.00 59,158.39 0.00 0.00 A-SIO 0.00 0.12000% 2,164,040,937.17 223,617.56 0.00 0.00 M1 81,161,000.00 2.08000% 81,161,000.00 145,368.37 0.00 0.00 M2 37,876,000.00 2.13000% 37,876,000.00 69,470.90 0.00 0.00 M3 19,479,000.00 2.28000% 19,479,000.00 38,243.77 0.00 0.00 M4 23,807,000.00 2.73000% 23,807,000.00 55,966.29 0.00 0.00 M5 27,054,000.00 3.23000% 27,054,000.00 75,247.69 0.00 0.00 M6 21,643,000.00 3.48000% 21,643,000.00 64,856.86 0.00 0.00 M7 27,053,000.00 3.88000% 27,053,000.00 90,387.08 0.00 0.00 B 21,643,000.00 3.88000% 21,643,000.00 72,311.67 0.00 0.00 X 0.00 0.00000% 2,164,299,070.80 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 2,153,478,100.00 3,559,145.25 0.00 0.00

~~Date~~Interest ofDistribution ~~Report~~Statement (~~Date~~continued) ofRemaining ~~earliest~~Ending ~~event~~Non-Supported ~~reported~~Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 471,017.11 0.00 330,991,763.92 A2 0.00 0.00 468,180.85 0.00 327,104,233.98 A3 0.00 0.00 405,445.69 0.00 272,852,793.48 A4 0.00 0.00 492,834.49 0.00 337,652,387.33 A5 0.00 0.00 569,823.86 0.00 400,707,950.31 A6 0.00 0.00 126,487.67 0.00 77,719,000.00 A7 0.00 0.00 130,727.00 0.00 84,340,000.00 A8 0.00 0.00 59,158.39 0.00 34,697,000.00 A-SIO 0.00 0.00 223,617.56 0.00 2,164,040,937.17 M1 0.00 0.00 145,368.37 0.00 81,161,000.00 M2 0.00 0.00 69,470.90 0.00 37,876,000.00 M3 0.00 0.00 38,243.77 0.00 19,479,000.00 M4 0.00 0.00 55,966.29 0.00 23,807,000.00 M5 0.00 0.00 75,247.69 0.00 27,054,000.00 M6 0.00 0.00 64,856.86 0.00 21,643,000.00 M7 0.00 0.00 90,387.08 0.00 27,053,000.00 B 0.00 0.00 72,311.67 0.00 21,643,000.00 X 0.00 0.00 7,425,197.85 0.00 2,136,602,199.02 P 0.00 0.00 404,914.68 0.00 100.00 Totals 0.00 0.00 11,389,257.78 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~July~~Interest 30Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 334,549,000.00 ~~2004~~1.63500% 1000.00000000 1.40791666 0.00000000 0.00000000 A2 330,513,000.00 1.64500% 1000.00000000 1.41652779 0.00000000 0.00000000 A3 280,262,000.00 1.68000% 1000.00000000 1.44666665 0.00000000 0.00000000 A4 340,669,000.00 1.68000% 1000.00000000 1.44666668 0.00000000 0.00000000 A5 411,013,000.00 1.61000% 1000.00000000 1.38638890 0.00000000 0.00000000 A6 77,719,000.00 1.89000% 1000.00000000 1.62749997 0.00000000 0.00000000 A7 84,340,000.00 1.80000% 1000.00000000 1.55000000 0.00000000 0.00000000 A8 34,697,000.00 1.98000% 1000.00000000 1.70500014 0.00000000 0.00000000 A-SIO 0.00 0.12000% 1000.00000000 0.10333333 0.00000000 0.00000000 M1 81,161,000.00 2.08000% 1000.00000000 1.79111112 0.00000000 0.00000000 M2 37,876,000.00 2.13000% 1000.00000000 1.83416675 0.00000000 0.00000000 M3 19,479,000.00 2.28000% 1000.00000000 1.96333333 0.00000000 0.00000000 M4 23,807,000.00 2.73000% 1000.00000000 2.35083337 0.00000000 0.00000000 M5 27,054,000.00 3.23000% 1000.00000000 2.78138870 0.00000000 0.00000000 M6 21,643,000.00 3.48000% 1000.00000000 2.99666682 0.00000000 0.00000000 M7 27,053,000.00 3.88000% 1000.00000000 3.34111115 0.00000000 0.00000000 B 21,643,000.00 3.88000% 1000.00000000 3.34111121 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 100.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

~~STRUCTURED~~Interest ~~ASSET~~Distribution ~~SECURITIES~~Factors ~~CORPORATION~~Statement (ascontinued) ~~Depositor~~Remaining ~~under~~Ending ~~the~~Non-Supported ~~Trust~~Total ~~Agreement~~Unpaid ~~dated~~Certificate/ asInterest ofRealized ~~July~~Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000000 0.00000000 1,.40791666 ~~2004,~~0.00000000 ~~providing~~989.36707006 ~~for~~A2 ~~the~~0.00000000 ~~issuance~~0.00000000 of1.41652779 ~~Structured~~0.00000000 ~~Asset~~989.68643890 ~~Investment~~A3 ~~Loan~~0.00000000 ~~Trust~~0.00000000 ~~Mortgage~~1.44666665 ~~Pass-Through~~0.00000000 ~~Certificates,~~973.56328535 ~~Series~~A4 ~~2004~~0.00000000 0.00000000 1.44666668 0.00000000 991.14503324 A5 0.00000000 0.00000000 1.38638890 0.00000000 974.92767944 A6 0.00000000 0.00000000 1.62749997 0.00000000 1000.00000000 A7 0.00000000 0.00000000 1.55000000 0.00000000 1000.00000000 A8 0.00000000 0.00000000 1.70500014 0.00000000 1000.00000000 A-7SIO 0.00000000 0.00000000 0.10333333 0.00000000 1000.00000000 M1 0.00000000 0.00000000 1.79111112 0.00000000 1000.00000000 M2 0.00000000 0.00000000 1.83416675 0.00000000 1000.00000000 M3 0.00000000 0.00000000 1.96333333 0.00000000 1000.00000000 M4 0.00000000 0.00000000 2.35083337 0.00000000 1000.00000000 M5 0.00000000 0.00000000 2.78138870 0.00000000 1000.00000000 M6 0.00000000 0.00000000 2.99666682 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.34111115 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.34111121 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 404914.68000000 0.00000000 100.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Structured~~Certificateholder ~~Asset~~Component ~~Securities~~Statement ~~Corporation~~ Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage A-SIO(1) 0.12000% 407,937,726.60 407,937,726.60 0.00 0.00 100.00000000% A-SIO(2) 0.12000% 403,016,496.81 403,016,496.81 0.00 0.00 100.00000000% A-SIO(3) 0.12000% 341,741,821.06 341,741,821.06 0.00 0.00 100.00000000% A-SIO(4) 0.12000% 415,400,814.79 415,400,814.79 0.00 0.00 100.00000000% A-SIO(5) 0.12000% 595,944,077.91 595,944,077.91 0.00 0.00 100.00000000%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 40,703,687.57 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (~~Exact~~Servicer ~~Name~~Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 40,703,687.57 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of ~~Registrant~~Service asFee ~~Specified~~1,617,558.81 inPayment ~~its~~of ~~Charter~~Interest and Principal 39,086,128.76 Total Withdrawals (Pool Distribution Amount) 40,703,687.57 Ending Balance 0.00

Delaware	333-115858	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		10019
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~OTHER ~~telephone~~ACCOUNTS ~~number~~Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~including~~0.00 ~~area~~0.00 ~~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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 102 0 0 0 102 14,731,007.99 0.00 0.00 0.00 14,731,007.99 60 Days 21 0 0 0 21 3,225,243.75 0.00 0.00 0.00 3,225,243.75 90 Days 2 0 0 0 2 518,816.12 0.00 0.00 0.00 518,816.12 120 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 125 0 0 0 125 18,475,067.86 0.00 0.00 0.00 18,475,067.86 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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.829673% 0.000000% 0.000000% 0.000000% 0.829673% 0.689025% 0.000000% 0.000000% 0.000000% 0.689025% 60 Days 0.170815% 0.000000% 0.000000% 0.000000% 0.170815% 0.150857% 0.000000% 0.000000% 0.000000% 0.150857% 90 Days 0.016268% 0.000000% 0.000000% 0.000000% 0.016268% 0.024267% 0.000000% 0.000000% 0.000000% 0.024267% 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 1.016756% 0.000000% 0.000000% 0.000000% 1.016756% 0.864149% 0.000000% 0.000000% 0.000000% 0.864149%

(Former Name or Former Address, if Changed Since Last Report)

~~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 ofFixed ~~its~~Mixed ~~Structured~~& ~~Asset~~ARM ~~Investment~~& ~~Loan~~Balloon ~~Trust~~Weighted ~~Mortgage~~Average ~~Pass-Through~~Gross ~~Certificates,~~Coupon ~~Series~~6.987725% ~~2004-7~~Weighted onAverage aNet ~~delayed~~Coupon or6.611592% ~~continuous~~Weighted ~~basis~~Average ~~pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S~~Pass-3Through ~~(Registration~~Rate ~~File No~~6.105867% ~~333-115858)~~Weighted Average Maturity(~~the~~Stepdown ~~“Registration~~Calculation ~~Statement”~~)~~. Pursuant~~ to350 ~~the~~Beginning ~~Registration~~Scheduled ~~Statement,~~Collateral ~~the~~Loan ~~Registrant~~Count ~~issued $2~~12,~~153,478,000~~414 ~~aggregate~~Number ~~principal~~Of ~~amount~~Loans ofPaid ~~Class~~In ~~A1,~~Full ~~Class~~120 ~~A2,~~Ending ~~Class~~Scheduled ~~A3,~~Collateral ~~Class~~Loan ~~A4,~~Count ~~Class A5~~12,294 ~~Class~~Beginning ~~A6,~~Scheduled ~~Class~~Collateral ~~A7,~~Balance ~~Class A8~~2, ~~Class A-SIO~~164, ~~Class M1~~299,070.80 ~~Class~~Ending ~~M2,~~Scheduled ~~Class~~Collateral ~~M3,~~Balance ~~Class M4~~2, ~~Class M5~~136, ~~Class M6~~602,199.02 ~~Class~~Ending M7Actual ~~and~~Collateral ~~Class~~Balance Bat ~~Certificates of its Structured Asset Investment Loan Trust Mortgage Pass~~31-~~Through Certificates, Series 2004~~Jul-~~7 on July 30,~~ 2004~~. This~~ ~~Current Report on Form 8-K is being filed to satisfy an undertaking~~2, ~~contained in the definitive Prospectus dated June 25~~137, ~~2004~~949,887.01 asMonthly ~~supplemented~~P by&I ~~the~~Constant ~~Prospectus Supplement dated July 27~~14, ~~2004 (the “Prospectus Supplement”)~~242,388.56 toSpecial ~~file~~Servicing aFee ~~copy~~0.00 ofPrepayment ~~the~~Penalties ~~Trust~~0.00 ~~Agreement~~Realized ~~(as~~Loss ~~defined~~Amount ~~below)~~0.00 ~~and~~Cumulative ~~other~~Realized ~~operative~~Loss ~~agreements~~0.00 ~~executed~~Scheduled inPrincipal ~~connection with the issuance of the Certificates~~1,639,448.74 aUnscheduled ~~form~~Principal ~~of which was filed as an exhibit to the Registration Statement~~26,057,423.04

~~The~~Advances ~~Certificates~~Not ~~were~~Reported ~~issued~~Insurance ~~pursuant~~claims topaid a Trust Agreement (the “Trust Agreement”), attached hereto as Exhibit 4.1, dated as of July 1, 2004, among Structured Asset Securities Corporation, as depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator, Aurora Loan Services Inc., as Back-up Master Servicer, The Murrayhill Company, as Credit Risk Manager and LaSalle Bank National Association, as Trustee. The “Certificates” consist of the following classes: Class A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class A8, Class A-SIO, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class B, Class P, Class X and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”), the assets of which consist primarily of five pools of certain conventional, first and second lien, adjustable and fixed rate, fully amortizing and balloon, residential mortgage loans (the “Mortgage Loans”) with an aggregate outstanding principal balance of approximately $~~2,164,299,071~~ ~~as of July 1, 2004, together with certain other assets~~0. ~~Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.~~00

~~Item~~Miscellaneous 7Reporting Overcollateralization Amount 10,821,070. ~~Financial~~00 ~~Statements;~~Overcollateralization ~~Pro~~Deficiency ~~Forma~~Amount ~~Financial~~0.00 ~~Information~~Target ~~and~~Overcollateralization ~~Exhibits~~Amount 10,821,070.00 CAP payment 0.00

Group Level Collateral Statement Group 1(aA) 1(B) 2(A) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.615203 6.896200 6.961008 Weighted Average Net Rate 7.273927 6.571337 6.633580 Weighted Average Maturity 350 350 330 Beginning Loan Count 772 1,924 745 Loans Paid In Full 2 15 1 Ending Loan Count 770 1,909 744 Beginning Scheduled Balance 91,000,577.58 316,985,809.12 100,149,681.23 Ending scheduled Balance 90,747,141.71 313,682,008.76 99,638,301.10 Record Date 07/31/2004 07/31/2004 07/31/2004 Principal And Interest Constant 658,958.24 2,063,521.29 691,320.50 Scheduled Principal 81,468.33 241,856.70 110,368.23 Unscheduled Principal 171,967.54 3,061,943.66 401,011.90 Scheduled Interest 577,489.91 1,821,664.59 580,952.27 Servicing Fees 25,880.31 85,814.12 27,326.52 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 41,939.73 159,079.36 41,339.96 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 509,669.87 1,576,771.11 512,285.79 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

~~Not~~Group ~~applicable~~Level Collateral Statement Group 2(B) 3(A) 3(B) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 7.344872 7.425578 7.328671 Weighted Average Net Rate 6.999724 6.933209 6.828671 Weighted Average Maturity 356 323 354 Beginning Loan Count 1,802 749 1,533 Loans Paid In Full 12 6 33 Ending Loan Count 1,790 743 1,500 Beginning Scheduled Balance 302,914,888.66 85,257,443.26 256,525,141.84 Ending scheduled Balance 300,017,502.62 84,499,295.39 249,874,083.06 Record Date 07/31/2004 07/31/2004 07/31/2004 Principal And Interest Constant 2,045,114.05 624,652.30 1,729,746.65 Scheduled Principal 191,054.71 97,080.77 163,089.67 Unscheduled Principal 2,706,331.33 661,067.10 6,487,969.11 Scheduled Interest 1,854,059.34 527,571.53 1,566,656.98 Servicing Fees 87,125.57 34,981.82 106,885.48 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 133,051.63 31,665.79 89,600.65 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 1,633,882.14 460,923.92 1,370,170.85 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

Group Level Collateral Statement Group 4(bA) 4(B) 5(A) Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM Weighted Average Coupon Rate 6.662361 6.927680 7.106327 Weighted Average Net Rate 6.323804 6.643619 6.660234 Weighted Average Maturity 350.00 356.00 333.00 Record Date 07/31/2004 07/31/2004 07/31/2004 Principal And Interest Constant 581,897.48 2,142,620.41 1,075,483.92 Beginning Loan Count 558 2,108 941 Loans Paid In Full 3 12 18 Ending Loan Count 555 2,096 923 Beginning Scheduled Balance 89,030,293.89 326,420,071.22 155,891,760.98 Ending Scheduled Balance 88,441,239.93 323,992,512.36 152,925,338.75 Scheduled Principal 87,604.19 258,175.59 152,302.38 Unscheduled Principal 501,449.77 2,169,383.27 2,814,119.85 Scheduled Interest 494,293.29 1,884,444.82 923,181.54 Servicing Fee 25,118.21 77,269.28 57,951.85 Master Servicing Fee 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 34,099.95 145,260.06 62,665.40 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 435,075.13 1,661,915.48 802,564.29 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00

~~Not~~Group ~~applicable~~Level Collateral Statement Group 5(B) Total Collateral Description Fixed 15/30 & ARM Mixed & ARM & Balloon Weighted Average Coupon Rate 6.468983 6.987725 Weighted Average Net Rate 6.059910 6.611592 Weighted Average Maturity 356.00 350.00 Record Date 07/31/2004 07/31/2004 Principal And Interest Constant 2,629,073.72 14,242,388.56 Beginning Loan Count 1,282 12,414 Loans Paid In Full 18 120 Ending Loan Count 1,264 12,294 Beginning Scheduled Balance 440,123,403.02 2,164,299,070.80 Ending Scheduled Balance 432,784,775.34 2,136,602,199.02 Scheduled Principal 256,448.17 1,639,448.74 Unscheduled Principal 7,082,179.51 26,057,423.04 Scheduled Interest 2,372,625.55 12,602,939.82 Servicing Fee 150,035.30 678,388.46 Master Servicing Fee 0.00 0.00 Trustee Fee 0.00 0.00 Fry Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 173,413.68 912,116.21 Pool Insurance Fee 0.00 0.00 Spread 1 0.00 0.00 Spread 2 0.00 0.00 Spread 3 0.00 0.00 Net Interest 2,049,176.57 11,012,435.15 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00

(c)

Exhibits:

4.1

Trust Agreement dated as of July 1, 2004, among Structured Asset Securities Corporation, as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator, Aurora Loan Services Inc., as Back-up Master Servicer, The Murrayhill Company, as Credit Risk Manager and LaSalle Bank National Association, as Trustee.

99.1

Mortgage Loan Sale and Assignment Agreement dated as of July 1, 2004, between Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.2

Securitization Servicing Agreement dated as of July 1, 2004, by and among Lehman Brothers Holdings Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer, and Chase Manhattan Mortgage Corporation, as Servicer.

99.3

Securitization Servicing Agreement dated as of July 1, 2004, by and among Lehman Brothers Holdings Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer, and HomEq Servicing Corporation, as Servicer.

99.4

Servicing Agreement dated as of July 1, 2004, by and among Lehman Brothers Holdings Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.5

Securitization Subservicing Agreement dated as of July 1, 2004, among Lehman Brothers Holdings Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer, and Wells Fargo Bank, N.A., as Servicer.

99.6

The Mortgage Guaranty Insurance Corporation (“MGIC”) Mortgage Guaranty Master Policy (No. 12-670-4-3952) including (i) Terms and Conditions No. 71-7135 (8/94) and (ii) Endorsements No. 71-70192 (8/01) and 71-70201 (1/03), as modified by the Terms Letter dated July 23, 2004, among Lehman Brothers Inc., MGIC and LaSalle Bank National Association, as Trustee and the MGIC Commitment Certificates (Covering Multiple Loans) covering approximately $624.9 million aggregate principal balance of insurable Mortgage Loans.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, 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: July 30, 2004

EXHIBIT INDEX

Exhibit No.

Description

4.1

Filing Compare · Structured Asset Investment Loan Trust 2004-7