8-K 1 sai05005_10506.txt 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): June 27, 2005 STRUCTURED ASSET INVESTMENT LOAN TRUST Mortgage Pass-Through Certificates, Series 2005-5 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120575-30 Pooling and Servicing Agreement) (Commission 54-2175603 (State or other File Number) 54-2175604 jurisdiction 54-2175605 of Incorporation) IRS EIN 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 June 27, 2005 a distribution was made to holders of STRUCTURED ASSET INVESTMENT LOAN TRUST, Mortgage Pass-Through Certificates, Series 2005-5 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 2005-5 Trust, relating to the June 27, 2005 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 2005-5 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/30/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-5 Trust, relating to the June 27, 2005 distribution. EX-99.1

~~UNITED~~Structured ~~STATES~~Asset Investment Loan Trust Mortgage Pass-Through Certificates Record Date: 5/31/2005 Distribution Date: 6/27/2005 Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates Series 2005-5 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Class CUSIP Description Rate Balance Distribution A1 86358ESW7 SEN 3.39000% 477,487,000.00 1,483,790.85 A2 86358ESX5 SEN 3.18000% 259,118,000.00 755,328.97 A3 86358ESY3 SEN 3.32000% 305,837,000.00 930,763.94 A4 86358ESZ0 SEN 3.37000% 379,046,000.00 1,170,936.27 A5 86358ETA4 SEN 3.41000% 94,762,000.00 296,210.22 A6 86358ETB2 SEN 3.18000% 270,215,000.00 787,676.72 A7 86358ETC0 SEN 3.30000% 210,927,000.00 638,054.18 A8 86358ETD8 SEN 3.34000% 95,826,000.00 293,387.27 A9 86358ETE6 SEN 3.36000% 48,708,000.00 150,020.64 M1 86358ETF3 MEZ 3.51000% 37,468,000.00 120,553.29 M2 86358ETG1 MEZ 3.55000% 68,692,000.00 223,535.22 M3 86358ETH9 MEZ 3.57000% 44,962,000.00 147,138.15 M4 86358ETJ5 MEZ 3.71000% 37,468,000.00 127,422.42 M5 86358ETK2 MEZ 3.74000% 29,974,000.00 102,760.86 M6 86358ETL0 MEZ 3.81000% 29,974,000.00 104,684.20 M7 86358ETM8 MEZ 4.19000% 27,477,000.00 105,534.58 M8 86358ETN6 MEZ 4.34000% 18,734,000.00 74,530.10 M9 86358ETP1 MEZ 4.89000% 24,979,000.00 111,968.37 B 86358ETQ9 MEZ 5.59000% 23,730,000.00 121,596.48 X SAI05005X RES 0.00000% 0.00 5,651,806.27 P SAI05005P SEN 0.00000% 100.00 136,080.38 R SAI0505R3 RES 0.00000% 0.00 0.00 Totals 2,485,384,100.00 13,533,779.38

~~SECURITIES~~Certificateholder ~~AND~~Distribution ~~EXCHANGE~~Summary ~~COMMISSION~~(continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A1 4,078,373.12 0.00 473,408,626.88 5,562,163.97 0.00 A2 5,994,590.94 0.00 253,123,409.06 6,749,919.91 0.00 A3 0.00 0.00 305,837,000.00 930,763.94 0.00 A4 4,391,167.69 0.00 374,654,832.31 5,562,103.96 0.00 A5 1,097,797.71 0.00 93,664,202.29 1,394,007.93 0.00 A6 6,096,268.40 0.00 264,118,731.60 6,883,945.12 0.00 A7 0.00 0.00 210,927,000.00 638,054.18 0.00 A8 0.00 0.00 95,826,000.00 293,387.27 0.00 A9 0.00 0.00 48,708,000.00 150,020.64 0.00 M1 0.00 0.00 37,468,000.00 120,553.29 0.00 M2 0.00 0.00 68,692,000.00 223,535.22 0.00 M3 0.00 0.00 44,962,000.00 147,138.15 0.00 M4 0.00 0.00 37,468,000.00 127,422.42 0.00 M5 0.00 0.00 29,974,000.00 102,760.86 0.00 M6 0.00 0.00 29,974,000.00 104,684.20 0.00 M7 0.00 0.00 27,477,000.00 105,534.58 0.00 M8 0.00 0.00 18,734,000.00 74,530.10 0.00 M9 0.00 0.00 24,979,000.00 111,968.37 0.00 B 0.00 0.00 23,730,000.00 121,596.48 0.00 X 0.00 0.00 12,489,527.00 5,651,806.27 0.00 P 0.00 0.00 100.00 136,080.38 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 21,658,197.86 0.00 2,476,215,429.14 35,191,977.24 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 477,487,000.00 D477,487,000.C00 0. ~~20549~~00 4,078,373.12 0.00 0.00 A2 259,118,000.00 259,118,000.00 0.00 5,994,590.94 0.00 0.00 A3 305,837,000.00 305,837,000.00 0.00 0.00 0.00 0.00 A4 379,046,000.00 379,046,000.00 0.00 4,391,167.69 0.00 0.00 A5 94,762,000.00 94,762,000.00 0.00 1,097,797.71 0.00 0.00 A6 270,215,000.00 270,215,000.00 0.00 6,096,268.40 0.00 0.00 A7 210,927,000.00 210,927,000.00 0.00 0.00 0.00 0.00 A8 95,826,000.00 95,826,000.00 0.00 0.00 0.00 0.00 A9 48,708,000.00 48,708,000.00 0.00 0.00 0.00 0.00 M1 37,468,000.00 37,468,000.00 0.00 0.00 0.00 0.00 M2 68,692,000.00 68,692,000.00 0.00 0.00 0.00 0.00 M3 44,962,000.00 44,962,000.00 0.00 0.00 0.00 0.00 M4 37,468,000.00 37,468,000.00 0.00 0.00 0.00 0.00 M5 29,974,000.00 29,974,000.00 0.00 0.00 0.00 0.00 M6 29,974,000.00 29,974,000.00 0.00 0.00 0.00 0.00 M7 27,477,000.00 27,477,000.00 0.00 0.00 0.00 0.00 M8 18,734,000.00 18,734,000.00 0.00 0.00 0.00 0.00 M9 24,979,000.00 24,979,000.00 0.00 0.00 0.00 0.00 B 23,730,000.00 23,730,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 2,485,384,000.00 2,485,384,000.00 0.00 21,658,197.86 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 ~~8-K~~Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 4,078,373.12 473,408,626.88 0.99145867 4,078,373.12 A2 5,994,590.94 253,123,409.06 0.97686540 5,994,590.94 A3 0.00 305,837,000.00 1.00000000 0.00 A4 4,391,167.69 374,654,832.31 0.98841521 4,391,167.69 A5 1,097,797.71 93,664,202.29 0.98841521 1,097,797.71 A6 6,096,268.40 264,118,731.60 0.97743919 6,096,268.40 A7 0.00 210,927,000.00 1.00000000 0.00 A8 0.00 95,826,000.00 1.00000000 0.00 A9 0.00 48,708,000.00 1.00000000 0.00 M1 0.00 37,468,000.00 1.00000000 0.00 M2 0.00 68,692,000.00 1.00000000 0.00 M3 0.00 44,962,000.00 1.00000000 0.00 M4 0.00 37,468,000.00 1.00000000 0.00 M5 0.00 29,974,000.00 1.00000000 0.00 M6 0.00 29,974,000.00 1.00000000 0.00 M7 0.00 27,477,000.00 1.00000000 0.00 M8 0.00 18,734,000.00 1.00000000 0.00 M9 0.00 24,979,000.00 1.00000000 0.00 B 0.00 23,730,000.00 1.00000000 0.00 X 0.00 12,489,527.00 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 21,658,197.86 2,476,215,329.14 0.99631096 21,658,197.86

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 477,487,000.00 1000.00000000 0.00000000 8.54132808 0.00000000 A2 259,118,000.00 1000.00000000 0.00000000 23.13459868 0.00000000 A3 305,837,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A4 379,046,000.00 1000.00000000 0.00000000 11.58478836 0.00000000 A5 94,762,000.00 1000.00000000 0.00000000 11.58478831 0.00000000 A6 270,215,000.00 1000.00000000 0.00000000 22.56080676 0.00000000 A7 210,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A8 95,826,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A9 48,708,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 37,468,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 68,692,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 44,962,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 37,468,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 29,974,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 29,974,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 27,477,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 18,734,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 24,979,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 23,730,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 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 8.54132808 991.45867192 0.99145867 8.54132808 A2 0.00000000 23.13459868 976.86540132 0.97686540 23.13459868 A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A4 0.00000000 11.58478836 988.41521164 0.98841521 11.58478836 A5 0.00000000 11.58478831 988.41521169 0.98841521 11.58478831 A6 0.00000000 22.56080676 977.43919324 0.97743919 22.56080676 A7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A9 0.00000000 0.00000000 1,000.00000000 1.00000000 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 M8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M9 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 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 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 477,487,000.00 3.39000% 477,487,000.00 1,483,790.85 0.00 0.00 A2 259,118,000.00 3.18000% 259,118,000.00 755,328.97 0.00 0.00 A3 305,837,000.00 3.32000% 305,837,000.00 930,763.94 0.00 0.00 A4 379,046,000.00 3.37000% 379,046,000.00 1,170,936.27 0.00 0.00 A5 94,762,000.00 3.41000% 94,762,000.00 296,210.22 0.00 0.00 A6 270,215,000.00 3.18000% 270,215,000.00 787,676.72 0.00 0.00 A7 210,927,000.00 3.30000% 210,927,000.00 638,054.18 0.00 0.00 A8 95,826,000.00 3.34000% 95,826,000.00 293,387.27 0.00 0.00 A9 48,708,000.00 3.36000% 48,708,000.00 150,020.64 0.00 0.00 M1 37,468,000.00 3.51000% 37,468,000.00 120,553.29 0.00 0.00 M2 68,692,000.00 3.55000% 68,692,000.00 223,535.22 0.00 0.00 M3 44,962,000.00 3.57000% 44,962,000.00 147,138.15 0.00 0.00 M4 37,468,000.00 3.71000% 37,468,000.00 127,422.42 0.00 0.00 M5 29,974,000.00 3.74000% 29,974,000.00 102,760.86 0.00 0.00 M6 29,974,000.00 3.81000% 29,974,000.00 104,684.20 0.00 0.00 M7 27,477,000.00 4.19000% 27,477,000.00 105,534.58 0.00 0.00 M8 18,734,000.00 4.34000% 18,734,000.00 74,530.10 0.00 0.00 M9 24,979,000.00 4.89000% 24,979,000.00 111,968.37 0.00 0.00 B 23,730,000.00 5.59000% 23,730,000.00 121,596.48 0.00 0.00 X 0.00 0.00000% 2,497,873,627.87 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 2,485,384,100.00 7,745,892.73 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 1,483,790.85 0.00 473,408,626.88 A2 0.00 0.00 755,328.97 0.00 253,123,409.06 A3 0.00 0.00 930,763.94 0.00 305,837,000.00 A4 0.00 0.00 1,170,936.27 0.00 374,654,832.31 A5 0.00 0.00 296,210.22 0.00 93,664,202.29 A6 0.00 0.00 787,676.72 0.00 264,118,731.60 A7 0.00 0.00 638,054.18 0.00 210,927,000.00 A8 0.00 0.00 293,387.27 0.00 95,826,000.00 A9 0.00 0.00 150,020.64 0.00 48,708,000.00 M1 0.00 0.00 120,553.29 0.00 37,468,000.00 M2 0.00 0.00 223,535.22 0.00 68,692,000.00 M3 0.00 0.00 147,138.15 0.00 44,962,000.00 M4 0.00 0.00 127,422.42 0.00 37,468,000.00 M5 0.00 0.00 102,760.86 0.00 29,974,000.00 M6 0.00 0.00 104,684.20 0.00 29,974,000.00 M7 0.00 0.00 105,534.58 0.00 27,477,000.00 M8 0.00 0.00 74,530.10 0.00 18,734,000.00 M9 0.00 0.00 111,968.37 0.00 24,979,000.00 B 0.00 0.00 121,596.48 0.00 23,730,000.00 X 0.00 0.00 5,651,806.27 0.00 2,476,215,429.15 P 0.00 0.00 136,080.38 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 13,533,779.38 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.

~~May~~Interest Distribution 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 477,487,000.00 3.39000% 1000.00000000 3.10749999 0.00000000 0.00000000 A2 259,118,000.00 3.18000% 1000.00000000 2.91500000 0.00000000 0.00000000 A3 305,837,000.00 3.32000% 1000.00000000 3.04333334 0.00000000 0.00000000 A4 379,046,000.00 3.37000% 1000.00000000 3.08916667 0.00000000 0.00000000 A5 94,762,000.00 3.41000% 1000.00000000 3.12583335 0.00000000 0.00000000 A6 270,215,000.00 3.18000% 1000.00000000 2.91499998 0.00000000 0.00000000 A7 210,927,000.00 3.30000% 1000.00000000 3.02500002 0.00000000 0.00000000 A8 95,826,000.00 3.34000% 1000.00000000 3.06166667 0.00000000 0.00000000 A9 48,708,000.00 3.36000% 1000.00000000 3.08000000 0.00000000 0.00000000 M1 37,468,000.00 3.51000% 1000.00000000 3.21750000 0.00000000 0.00000000 M2 68,692,000.00 3.55000% 1000.00000000 3.25416672 0.00000000 0.00000000 M3 44,962,000.00 3.57000% 1000.00000000 3.27250011 0.00000000 0.00000000 M4 37,468,000.00 3.71000% 1000.00000000 3.40083324 0.00000000 0.00000000 M5 29,974,000.00 3.74000% 1000.00000000 3.42833322 0.00000000 0.00000000 M6 29,974,000.00 3.81000% 1000.00000000 3.49250017 0.00000000 0.00000000 M7 27,477,000.00 ~~2005~~4.19000% 1000.00000000 3.84083342 0.00000000 0.00000000 M8 18,734,000.00 4.34000% 1000.00000000 3.97833351 0.00000000 0.00000000 M9 24,979,000.00 4.89000% 1000.00000000 4.48250010 0.00000000 0.00000000 B 23,730,000.00 5.59000% 1000.00000000 5.12416688 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per 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 ~~May~~Interest 1,Interest ~~2005,~~Notional ~~providing~~Class ~~for~~Shortfall ~~the~~Losses ~~issuance~~(6) ofDistribution ~~Structured~~Shortfall ~~Asset~~Balance ~~Investment~~A1 ~~Loan~~0.00000000 ~~Trust~~0.00000000 ~~Mortgage~~3.10749999 ~~Pass-Through~~0.00000000 ~~Certificates,~~991.45867192 ~~Series~~A2 ~~2005-~~0.00000000 0.00000000 2.91500000 0.00000000 976.86540132 A3 0.00000000 0.00000000 3.04333334 0.00000000 1000.00000000 A4 0.00000000 0.00000000 3.08916667 0.00000000 988.41521164 A5 0.00000000 0.00000000 3.12583335 0.00000000 988.41521169 A6 0.00000000 0.00000000 2.91499998 0.00000000 977.43919324 A7 0.00000000 0.00000000 3.02500002 0.00000000 1000.00000000 A8 0.00000000 0.00000000 3.06166667 0.00000000 1000.00000000 A9 0.00000000 0.00000000 3.08000000 0.00000000 1000.00000000 M1 0.00000000 0.00000000 3.21750000 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.25416672 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.27250011 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.40083324 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.42833322 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.49250017 0.00000000 1000.00000000 M7 0.00000000 0.00000000 3.84083342 0.00000000 1000.00000000 M8 0.00000000 0.00000000 3.97833351 0.00000000 1000.00000000 M9 0.00000000 0.00000000 4.48250010 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.12416688 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1360803.80000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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~~ACCOUNT ~~Securities~~STATEMENT ~~Corporation~~ CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 36,123,951.23 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 27,112.57 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 36,151,063.80 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 959,086.56 Payment of Interest and Principal 35,191,977.24 Total Withdrawals (Pool Distribution Amount) 36,151,063.80 Ending Balance 0.00

~~(Exact~~PREPAYMENT/CURTAILMENT ~~Name~~INTEREST ofSHORTFALL ~~Registrant~~Total asPrepayment/Curtailment ~~Specified~~Interest inShortfall ~~its~~0.00 ~~Charter)~~Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

Delaware	333-120575	74-2440850
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

~~745~~OTHER ~~Seventh~~ACCOUNTS ~~Avenue,~~Beginning ~~7th~~Current ~~Floor~~Current ~~New~~Ending ~~York~~Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 NY0.00 ~~(Address~~0.00 of1,000.00 ~~Principal~~Financial ~~Executive~~Guaranty ~~Offices)~~0.00 ~~10019~~0.00 ~~(Zip~~0.00 ~~Code)~~0.00 Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 1,000.00 0.00 0.00 1,000.00

~~Registrant’s~~LOAN ~~telephone~~STATUS ~~number~~STRATIFICATION/CREDIT ENHANCEMENT STATEMENT 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 17 0 0 0 17 4,023,081.72 ~~including~~0.00 ~~area~~0.00 ~~code: (212)~~0.00 ~~526~~4,023,081.72 60 Days 1 0 0 0 1 50,447.00 0.00 0.00 0.00 50,447.00 90 Days 1 0 0 0 1 97,917.45 0.00 0.00 0.00 97,917.45 120 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 19 0 0 0 19 4,171,446.17 0.00 0.00 0.00 4,171,446.17 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-~~7000~~29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.123943% 0.000000% 0.000000% 0.000000% 0.123943% 0.162399% 0.000000% 0.000000% 0.000000% 0.162399% 60 Days 0.007291% 0.000000% 0.000000% 0.000000% 0.007291% 0.002036% 0.000000% 0.000000% 0.000000% 0.002036% 90 Days 0.007291% 0.000000% 0.000000% 0.000000% 0.007291% 0.003953% 0.000000% 0.000000% 0.000000% 0.003953% 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 0.138524% 0.000000% 0.000000% 0.000000% 0.138524% 0.168388% 0.000000% 0.000000% 0.000000% 0.168388%

Delinquency Status By Groups

No Change

~~(Former~~OTHER ~~Name~~INFORMATION orCurrent ~~Former~~Period ~~Address,~~Class ifA ~~Changed~~Insufficient ~~Since~~Funds ~~Last~~0.00 ~~Report)~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00

~~Check~~COLLATERAL ~~the~~STATEMENT ~~appropriate~~Collateral ~~box~~Description ~~below~~Fixed if& ~~the~~Mixed ~~Form~~ARM 8Weighted Average Gross Coupon 7.209493% Weighted Average Net Coupon 6.759739% Weighted Average Pass-KThrough ~~filing~~Rate is6.451542% ~~intended~~Weighted toAverage ~~simultaneously~~Maturity(Stepdown ~~satisfy~~Calculation) ~~the~~351 ~~filing~~Beginning ~~obligation~~Scheduled ofCollateral ~~the~~Loan ~~registrant~~Count ~~under~~13,813 ~~any~~Number ofOf ~~the~~Loans ~~following~~Paid ~~provisions:~~In Full 97 Ending Scheduled Collateral Loan Count 13,716 Beginning Scheduled Collateral Balance 2,497,873,727.00 Ending Scheduled Collateral Balance 2,476,215,429.15 Ending Actual Collateral Balance at 31-May-2005 2,477,278,163.12 Monthly P&I Constant 16,373,024.36 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 1,366,022.56 Unscheduled Principal 20,292,176.16

~~[ ]~~Miscellaneous ~~Written~~Reporting ~~communications~~Targeted ~~pursuant~~Overcollateralization toAmount ~~Rule~~12,489,627.00 ~~425~~Overcollateralization ~~under~~Amount ~~the~~12,489,627.00 ~~Securities~~Overcollateralization ~~Act~~Deficiency ~~(17~~0.00 ~~CFR~~Monthly ~~230~~Excess Cash Flow 5,651,805.~~425)~~40 Libor 3.09% Net Swap Payment 0.00 Class A8 Insurance Premium 4,831.23 Class A9 Insurance Premium 3,795.17 Delinquency Event NO Cumulative Loss Trigger Event NO Stepdown Date NO Trigger Event NO

~~[ ]~~Group ~~Soliciting~~Level ~~material~~Collateral ~~pursuant~~Statement toGroup ~~Rule~~1(A) ~~14a-12~~1(B) ~~under~~2(A) ~~the~~Collateral ~~Exchange~~Description ~~Act~~Mixed (Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.919778 7.048153 7.725178 Weighted Average Net Rate 7.472057 6.610817 7.276161 Weighted Average Maturity 348 348 351 Beginning Loan Count 1,084 2,747 993 Loans Paid In Full 1 17 ~~CFR~~6 ~~240~~Ending Loan Count 1,083 2,730 987 Beginning Scheduled Balance 101,017,798.~~14a~~29 468,775,856.62 97,254,335.15 Ending Scheduled Balance 100,851,531.42 464,863,750.21 96,858,530.16 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 749,428.04 3,049,078.04 712,014.63 Scheduled Principal 82,729.28 295,741.37 85,925.40 Unscheduled Principal 83,537.59 3,616,365.04 309,879.59 Scheduled Interest 666,698.76 2,753,336.67 626,089.23 Servicing Fees 37,689.78 170,843.98 36,390.73 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 23,993.13 122,603.62 21,183.93 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 605,015.85 2,459,889.07 568,514.57 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 Pass-~~12)~~Through Rate 7.187041 6.296969 7.014777

~~[ ]~~Group ~~Pre-commencement~~Level ~~communications~~Collateral ~~pursuant~~Statement toGroup ~~Rule 14d-~~2(bB) ~~under~~3(A) ~~the~~3(B) ~~Exchange~~Collateral ~~Act~~Description ~~(17~~Mixed ~~CFR~~ARM ~~240~~Mixed Fixed Mixed ARM Weighted Average Coupon Rate 7.~~14d-~~301878 7.701286 7.099659 Weighted Average Net Rate 6.850974 7.253420 6.647310 Weighted Average Maturity 351 349 349 Beginning Loan Count 3,195 978 2~~(b))~~,503 Loans Paid In Full 29 4 20 Ending Loan Count 3,166 974 2,483 Beginning Scheduled Balance 576,916,252.90 101,139,546.99 464,264,145.91 Ending scheduled Balance 571,317,466.71 100,234,899.59 459,679,827.69 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 3,748,502.46 738,465.32 3,011,335.88 Scheduled Principal 238,025.89 89,378.16 264,571.68 Unscheduled Principal 5,360,760.30 815,269.24 4,319,746.54 Scheduled Interest 3,510,476.57 649,087.16 2,746,764.20 Servicing Fees 216,778.02 37,747.51 175,007.67 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 153,319.86 24,530.80 121,676.67 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 3,140,378.69 586,808.85 2,450,079.86 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 Pass-Through Rate 6.532065 6.962367 6.332808

~~[ ]~~Group ~~Pre-commencement~~Level ~~communications~~Collateral ~~pursuant~~Statement toGroup ~~Rule~~4(A) ~~13e-~~4(cB) ~~under~~Total ~~the~~Collateral ~~Exchange~~Description ~~Act~~Mixed ~~(17~~Fixed ~~CFR~~Mixed ~~240~~ARM Fixed & Mixed ARM Weighted Average Coupon Rate 7.~~13e-~~902381 6.923179 7.209493 Weighted Average Net Rate 7.454982 6.465499 6.759739 Weighted Average Maturity 349.00 349.00 351.00 Record Date 05/31/2005 05/31/2005 05/31/2005 Principal And Interest Constant 741,275.28 3,622,924.71 16,373,024.36 Beginning Loan Count 669 1,644 13,813 Loans Paid In Full 4~~(c))~~ 16 97 Ending Loan Count 665 1,628 13,716 Beginning Scheduled Balance 100,909,682.95 587,596,009.06 2,497,873,627.87 Ending Scheduled Balance 100,477,268.18 581,932,155.19 2,476,215,429.15 Scheduled Principal 76,752.95 232,897.83 1,366,022.56 Unscheduled Principal 355,661.82 5,430,956.04 20,292,176.16 Scheduled Interest 664,522.33 3,390,026.88 15,007,001.80 Servicing Fee 37,622.48 224,109.22 936,189.39 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 20,041.43 154,182.74 641,532.18 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 606,858.42 3,011,734.92 13,429,280.23 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 Pass-Through Rate 7.216652 6.150624 6.451542

Item 8.01. Other Events

The Registrant registered issuances of its Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2005-5 on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-120575) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $2,485,384,000 aggregate principal amount of Class A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class A8, Class A9, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9 and Class B Certificates of its Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2005-5 on May 27, 2005. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated January 25, 2005, as supplemented by the Prospectus Supplement dated May 26, 2005 (the “Prospectus Supplement”), to file a copy of the Trust Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Certificates were issued pursuant to a Trust Agreement (the “Trust Agreement”), attached hereto as Exhibit 4.1, dated as of May 1, 2005, among Structured Asset Securities Corporation, as depositor, Aurora Loan Services LLC, as Master Servicer, The Murrayhill Company, as Credit Risk Manager, Wells Fargo Bank, N.A., as Securities Administrator and U.S. 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 A9, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class B, Class X, Class P and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”) that consists primarily of four 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 $2,497,873,627 as of May 1, 2005. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.

Item 9.01. Financial Statements and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.1

Trust Agreement dated as of May 1, 2005, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer, The Murrayhill Company, as Credit Risk Manager, Wells Fargo Bank, N.A., as Securities Administrator and U.S. Bank National Association, as Trustee.

99.1

Mortgage Loan Sale and Assignment Agreement dated as of May 1, 2005, between Lehman Brothers Holdings Inc., as Seller, and Structured Asset Securities Corporation, as Purchaser.

99.2

Servicing Agreement dated as of May 1, 2005, among Lehman Brothers Holdings Inc., as Seller, and Aurora Loan Services LLC, as Master Servicer and Servicer.

99.3

Subservicing Agreement dated as of May 1, 2005, among Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services LLC, as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.4

Servicing Agreement dated as of May 1, 2005, among Lehman Brothers Holdings Inc., as Seller, as Seller, Aurora Loan Services LLC, as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.5

The Mortgage Guaranty Insurance Corporation (“MGIC”) Mortgage Guaranty Master Policy (No. 12-670-4-4234), including (i) Terms and Conditions No. 71-72082 (2/05) and No. 71-70283 (2/05), as modified by the Terms Letter for MGIC Mortgage Insurance Coverage dated May 24, 2005 among Lehman Brothers Inc., MGIC and the Trustee and (iii) Commitment Certificates covering $ 466,469,061.35 aggregate principal balance of insurable Mortgage Loans.

99.6

Primary Mortgage Insurance Co. (“PMI”) Master Policy Bulk No. 2005-0347, subject to the terms and conditions of PMI Mortgage’s Bulk Primary First Lien Master Policy UW 2510.00 (9/00), including (i) Terms Letter for PMI Mortgage Insurance Coverage dated as of May 27, 2005, among Lehman Brothers Inc., PMI Mortgage and the Trustee and (ii) certificates covering $204,512,785.21 aggregate principal balance of insurable Mortgage Loans.

99.7

Republic Mortgage Insurance Company (“RMIC”) Mortgage Policy Form MP-1103, 8/94, including (i) any related endorsements and (ii) the RMIC Letter Agreement dated as of May 27, 2005, between RMIC and the Aurora Loan Services LLC and acknowledged by U.S. Bank National Association, as Trustee on behalf of the Trust Fund covering $84,971,647.22 aggregate principal balance of insurable Mortgage Loans.

99.8

CIFG Assurance North America, Inc. (“CIFG”) Financial Guaranty Insurance Policy No. CIFG NA-383 for $95,826,000 Class A8 Certificates and CIFG Financial Guaranty Insurance Policy No. CIFG NA-387 for $48,708,000 Class A9 Certificates.

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: May 27, 2005

EXHIBIT INDEX

Exhibit No.

Description

4.1

Filing Compare · Structured Asset Investment Loan Trust 2005-5