8-K 1 sac05wf1_10508.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): August 25, 2005 STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2005-WF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-120575-06 54-2168049 Pooling and Servicing Agreement) (Commission 54-2168050 (State or other File Number) 54-2168051 jurisdiction 54-2168052 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 August 25, 2005 a distribution was made to holders of STRUCTURED ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2005-WF1 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-WF1 Trust, relating to the August 25, 2005 distribution. EX-99.2 Murrayhill Credit Risk Manager Report 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 Mortgage Pass-Through Certificates, Series 2005-WF1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 8/25/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WF1 Trust, relating to the August 25, 2005 distribution. EX-99.2 Murrayhill Credit Risk Manager Report EX-99.1

Structured Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 57/3129/2005 Distribution Date: 68/2725/2005 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2005-WF1 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 86359BV40 SEN 3.~~18000~~55000% ~~308~~252,~~059~~052,~~074~~039.0352 ~~897~~770,~~992~~509.2008 A2 86359BV57 SEN 3.~~29000~~66000% 340,208,000.00 1,~~026~~072,~~010~~222.6321 A3 86359BV65 SEN 3.~~42000~~79000% 71,071,000.00 ~~222~~231,~~807~~948.5811 M1 86359BV73 MEZ 3.~~53000~~90000% 44,602,000.00 ~~144~~149,~~324~~788.6438 M2 86359BV81 MEZ 3.~~56000~~93000% 30,987,000.00 ~~101~~104,~~120~~865.9117 M3 86359BV99 MEZ 3.~~58000~~95000% 9,859,000.00 3233,~~353~~534.9529 M4 86359BW23 MEZ 34.~~84000~~21000% 12,676,000.00 4445,~~619~~954.5202 M5 86359BW31 MEZ 34.~~85000~~22000% 8,920,000.00 3132,~~480~~414.1729 M6 86359BW49 MEZ 34.~~89000~~26000% 7,981,000.00 2829,~~458~~276.9297 M7 86359BW56 MEZ 4.~~36000~~73000% 7,512,000.00 30,~~022~~596.9679 M8 86359BW64 MEZ 4.~~46000~~83000% 4,695,000.00 19,~~194~~527.7229 M9 86359BV24 MEZ 5.~~39000~~76000% 9,390,000.00 46,~~394~~574.4340 B1 86359BV32 SUB 5.~~59000~~96000% 7,512,000.00 38,~~492~~553.7425 B2 86359BW72 SUB 5.~~59000~~96000% 4,695,000.00 24,~~057~~095.9678 X SAC05WF1X SEN 0.00000% 0.00 2,~~683~~590,~~041~~198.8490 P SAC05WF1P SEN 0.00000% 100.00 ~~229~~346,~~754~~067.59 R SAC5WF1R1 RES 0.00000% 0.00 0.00 Totals ~~868~~812,~~167~~160,~~174~~139.0352 5,~~600~~566,~~127~~126.7652

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A1 2229,~~305~~158,~~916~~982.2272 0.00 ~~285~~222,~~753~~893,~~157~~056.8180 2329,~~203~~929,~~908~~491.4280 0.00 A2 0.00 0.00 340,208,000.00 1,~~026~~072,~~010~~222.6321 0.00 A3 0.00 0.00 71,071,000.00 ~~222~~231,~~807~~948.5811 0.00 M1 0.00 0.00 44,602,000.00 ~~144~~149,~~324~~788.6438 0.00 M2 0.00 0.00 30,987,000.00 ~~101~~104,~~120~~865.9117 0.00 M3 0.00 0.00 9,859,000.00 3233,~~353~~534.9529 0.00 M4 0.00 0.00 12,676,000.00 4445,~~619~~954.5202 0.00 M5 0.00 0.00 8,920,000.00 3132,~~480~~414.1729 0.00 M6 0.00 0.00 7,981,000.00 2829,~~458~~276.9297 0.00 M7 0.00 0.00 7,512,000.00 30,~~022~~596.9679 0.00 M8 0.00 0.00 4,695,000.00 19,~~194~~527.7229 0.00 M9 0.00 0.00 9,390,000.00 46,~~394~~574.4340 0.00 B1 0.00 0.00 7,512,000.00 38,~~492~~553.7425 0.00 B2 0.00 0.00 4,695,000.00 24,~~057~~095.9678 0.00 X 0.00 0.00 0.00 2,~~683~~590,~~041~~198.8490 0.00 P 0.00 0.00 100.00 ~~229~~346,~~754~~067.59 0.00 R 0.00 0.00 0.00 0.00 0.00 Totals 2229,~~305~~158,~~916~~982.2272 0.00 ~~845~~783,~~861~~001,~~257~~156.8180 2734,~~906~~725,~~043~~109.9824 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 374,189,000.00 ~~308~~252,~~059~~052,~~074~~039.0352 0.00 2229,~~305~~158,~~916~~982.2272 0.00 0.00 A2 340,208,000.00 340,208,000.00 0.00 0.00 0.00 0.00 A3 71,071,000.00 71,071,000.00 0.00 0.00 0.00 0.00 M1 44,602,000.00 44,602,000.00 0.00 0.00 0.00 0.00 M2 30,987,000.00 30,987,000.00 0.00 0.00 0.00 0.00 M3 9,859,000.00 9,859,000.00 0.00 0.00 0.00 0.00 M4 12,676,000.00 12,676,000.00 0.00 0.00 0.00 0.00 M5 8,920,000.00 8,920,000.00 0.00 0.00 0.00 0.00 M6 7,981,000.00 7,981,000.00 0.00 0.00 0.00 0.00 M7 7,512,000.00 7,512,000.00 0.00 0.00 0.00 0.00 M8 4,695,000.00 4,695,000.00 0.00 0.00 0.00 0.00 M9 9,390,000.00 9,390,000.00 0.00 0.00 0.00 0.00 B1 7,512,000.00 7,512,000.00 0.00 0.00 0.00 0.00 B2 4,695,000.00 4,695,000.00 0.00 0.00 0.00 0.00 X 4,704,921.88 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 939,002,021.88 ~~868~~812,~~167~~160,~~174~~139.0352 0.00 2229,~~305~~158,~~916~~982.2272 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.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 2229,~~305~~158,~~916~~982.2272 ~~285~~222,~~753~~893,~~157~~056.8180 0.~~76365996~~59566972 2229,~~305~~158,~~916~~982.2272 A2 0.00 340,208,000.00 1.00000000 0.00 A3 0.00 71,071,000.00 1.00000000 0.00 M1 0.00 44,602,000.00 1.00000000 0.00 M2 0.00 30,987,000.00 1.00000000 0.00 M3 0.00 9,859,000.00 1.00000000 0.00 M4 0.00 12,676,000.00 1.00000000 0.00 M5 0.00 8,920,000.00 1.00000000 0.00 M6 0.00 7,981,000.00 1.00000000 0.00 M7 0.00 7,512,000.00 1.00000000 0.00 M8 0.00 4,695,000.00 1.00000000 0.00 M9 0.00 9,390,000.00 1.00000000 0.00 B1 0.00 7,512,000.00 1.00000000 0.00 B2 0.00 4,695,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 2229,~~305~~158,~~916~~982.2272 ~~845~~783,~~861~~001,~~257~~156.8180 0.~~90080877~~83386525 2229,~~305~~158,~~916~~982.2272

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 374,189,000.00 ~~823~~673.~~27132553~~59553466 0.00000000 5977.~~61136276~~92581482 0.00000000 A2 340,208,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A3 71,071,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M1 44,602,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 30,987,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M3 9,859,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M4 12,676,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M5 8,920,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M6 7,981,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M7 7,512,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M8 4,695,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M9 9,390,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 7,512,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 4,695,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 4,704,921.88 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.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 5977.~~61136276~~92581482 ~~763~~595.~~65996277~~66971985 0.~~76365996~~59566972 5977.~~61136276~~92581482 A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A3 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 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 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.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 374,189,000.00 3.~~18000~~55000% ~~308~~252,~~059~~052,~~074~~039.0352 ~~897~~770,~~992~~509.2008 0.00 0.00 A2 340,208,000.00 3.~~29000~~66000% 340,208,000.00 1,~~026~~072,~~010~~222.6321 0.00 0.00 A3 71,071,000.00 3.~~42000~~79000% 71,071,000.00 ~~222~~231,~~807~~948.5911 0.00 0.00 M1 44,602,000.00 3.~~53000~~90000% 44,602,000.00 ~~144~~149,~~324~~788.6438 0.00 0.00 M2 30,987,000.00 3.~~56000~~93000% 30,987,000.00 ~~101~~104,~~120~~865.9117 0.00 0.00 M3 9,859,000.00 3.~~58000~~95000% 9,859,000.00 3233,~~353~~534.9529 0.00 0.00 M4 12,676,000.00 34.~~84000~~21000% 12,676,000.00 4445,~~619~~954.5202 0.00 0.00 M5 8,920,000.00 34.~~85000~~22000% 8,920,000.00 3132,~~480~~414.1729 0.00 0.00 M6 7,981,000.00 34.~~89000~~26000% 7,981,000.00 2829,~~458~~276.9297 0.00 0.00 M7 7,512,000.00 4.~~36000~~73000% 7,512,000.00 30,~~022~~596.9679 0.00 0.00 M8 4,695,000.00 4.~~46000~~83000% 4,695,000.00 19,~~194~~527.7229 0.00 0.00 M9 9,390,000.00 5.~~39000~~76000% 9,390,000.00 46,~~394~~574.4340 0.00 0.00 B1 7,512,000.00 5.~~59000~~96000% 7,512,000.00 38,~~492~~553.7425 0.00 0.00 B2 4,695,000.00 5.~~59000~~96000% 4,695,000.00 24,~~057~~095.9678 0.00 0.00 X 4,704,921.88 0.00000% ~~868~~812,~~498~~772,~~521~~113.7056 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 939,002,021.88 2,~~687~~629,~~331~~860.3403 0.00 0.00

Interest Distribution 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 ~~897~~770,~~992~~509.2008 0.00 ~~285~~222,~~753~~893,~~157~~056.8180 A2 0.00 0.00 1,~~026~~072,~~010~~222.6321 0.00 340,208,000.00 A3 0.00 0.00 ~~222~~231,~~807~~948.5811 0.00 71,071,000.00 M1 0.00 0.00 ~~144~~149,~~324~~788.6438 0.00 44,602,000.00 M2 0.00 0.00 ~~101~~104,~~120~~865.9117 0.00 30,987,000.00 M3 0.00 0.00 3233,~~353~~534.9529 0.00 9,859,000.00 M4 0.00 0.00 4445,~~619~~954.5202 0.00 12,676,000.00 M5 0.00 0.00 3132,~~480~~414.1729 0.00 8,920,000.00 M6 0.00 0.00 2829,~~458~~276.9297 0.00 7,981,000.00 M7 0.00 0.00 30,~~022~~596.9679 0.00 7,512,000.00 M8 0.00 0.00 19,~~194~~527.7229 0.00 4,695,000.00 M9 0.00 0.00 46,~~394~~574.4340 0.00 9,390,000.00 B1 0.00 0.00 38,~~492~~553.7425 0.00 7,512,000.00 B2 0.00 0.00 24,~~057~~095.9678 0.00 4,695,000.00 X 0.00 0.00 2,~~683~~590,~~041~~198.8490 0.00 ~~846~~783,~~304~~759,~~370~~233.5254 P 0.00 0.00 ~~229~~346,~~754~~067.59 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 5,~~600~~566,~~127~~126.7652 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.

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 374,189,000.00 3.~~18000~~55000% ~~823~~673.~~27132553~~59553466 2.~~39983591~~05914412 0.00000000 0.00000000 A2 340,208,000.00 3.~~29000~~66000% 1000.00000000 3.~~01583334~~15166666 0.00000000 0.00000000 A3 71,071,000.00 3.~~42000~~79000% 1000.00000000 3.~~13500007~~26361118 0.00000000 0.00000000 M1 44,602,000.00 3.~~53000~~90000% 1000.00000000 3.~~23583337~~35833326 0.00000000 0.00000000 M2 30,987,000.00 3.~~56000~~93000% 1000.00000000 3.~~26333333~~38416659 0.00000000 0.00000000 M3 9,859,000.00 3.~~58000~~95000% 1000.00000000 3.~~28166650~~40138858 0.00000000 0.00000000 M4 12,676,000.00 34.~~84000~~21000% 1000.00000000 3.~~52000000~~62527769 0.00000000 0.00000000 M5 8,920,000.00 34.~~85000~~22000% 1000.00000000 3.~~52916704~~63388901 0.00000000 0.00000000 M6 7,981,000.00 34.~~89000~~26000% 1000.00000000 3.~~56583386~~66833354 0.00000000 0.00000000 M7 7,512,000.00 4.~~36000~~73000% 1000.00000000 34.~~99666667~~07305511 0.00000000 0.00000000 M8 4,695,000.00 4.~~46000~~83000% 1000.00000000 4.~~08833227~~15916720 0.00000000 0.00000000 M9 9,390,000.00 5.~~39000~~76000% 1000.00000000 4.~~94083387~~96000000 0.00000000 0.00000000 B1 7,512,000.00 5.~~59000~~96000% 1000.00000000 5.~~12416667~~13222178 0.00000000 0.00000000 B2 4,695,000.00 5.~~59000~~96000% 1000.00000000 5.~~12416613~~13222151 0.00000000 0.00000000 X 4,704,921.88 0.00000% ~~184593~~172749.~~61150966~~33235661 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 $1000 denomination

Interest Distribution Factors 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 2.~~39983591~~05914412 0.00000000 ~~763~~595.~~65996277~~66971985 A2 0.00000000 0.00000000 3.~~01583334~~15166666 0.00000000 1000.00000000 A3 0.00000000 0.00000000 3.~~13499993~~26361118 0.00000000 1000.00000000 M1 0.00000000 0.00000000 3.~~23583337~~35833326 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.~~26333333~~38416659 0.00000000 1000.00000000 M3 0.00000000 0.00000000 3.~~28166650~~40138858 0.00000000 1000.00000000 M4 0.00000000 0.00000000 3.~~52000000~~62527769 0.00000000 1000.00000000 M5 0.00000000 0.00000000 3.~~52916704~~63388901 0.00000000 1000.00000000 M6 0.00000000 0.00000000 3.~~56583386~~66833354 0.00000000 1000.00000000 M7 0.00000000 0.00000000 34.~~99666667~~07305511 0.00000000 1000.00000000 M8 0.00000000 0.00000000 4.~~08833227~~15916720 0.00000000 1000.00000000 M9 0.00000000 0.00000000 4.~~94083387~~96000000 0.00000000 1000.00000000 B1 0.00000000 0.00000000 5.~~12416667~~13222178 0.00000000 1000.00000000 B2 0.00000000 0.00000000 5.~~12416613~~13222151 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~570~~550.~~26278192~~52962962 0.00000000 ~~179876~~166582.~~39159696~~83676753 P 0.00000000 0.00000000 ~~2297545~~3460675.90000000 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.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2835,~~277~~072,~~742~~957.0261 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2835,~~277~~072,~~742~~957.0261 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~371~~347,~~698~~848.0437 Payment of Interest and Principal 2734,~~906~~725,~~043~~109.9824 Total Withdrawals (Pool Distribution Amount) 2835,~~277~~072,~~742~~957.0261 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~363~~340,~~696~~360.7144 Credit Risk Manager's Fee 87,~~001~~487.3393 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~371~~347,~~698~~848.0437

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 ~~831~~982,~~429~~668.9846 ~~831~~982,~~429~~668.9846 1,000.00 Financial Guaranty 0.00 ~~826~~981,~~746~~425.4739 0.00 0.00 Financial Guaranty 0.00 0.00 ~~826~~981,~~746~~425.4738 0.00

LOAN STATUS 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 1319 0 0 1319 1,~~243~~811,~~612~~329.8595 0.00 0.00 1,~~243~~811,~~612~~329.8595 30 Days 5165 21 0 0 5366 69,~~965~~233,~~440~~260.6027 ~~152~~31,~~424~~250.8433 0.00 0.00 79,~~117~~264,~~865~~510.4460 60 Days 1914 32 016 0 2232 21,~~664~~806,~~701~~045.5144 ~~408~~202,~~300~~538.5217 02,513,746.0050 0.00 34,~~073~~522,~~002~~330.0311 90 Days 05 2 4 315 9 0~~.00~~ ~~219~~24 711,~~182~~880.0561 ~~413~~406,~~999~~205.7672 ~~501~~1,~~504~~995,743.2039 10.00 3,~~134~~113,~~686~~829.0172 120 Days 0 12 1211 31 1614 0.00 58345,~~308~~728.4573 1,~~071~~249,~~388~~441.6617 ~~276~~110,~~441~~233.8532 1,~~406~~705,~~138~~403.9622 150 Days 0 0 1 06 13 10 0.00 021,575.0069 ~~320~~679,~~000~~487.0046 0501,504.0020 ~~320~~1,~~000~~202,567.0035 180+ Days 0 03 08 04 015 0.00 0435,068.0035 0711,054.0004 0327,672.0033 01,473,794.0072 Totals 7084 2132 1756 68 ~~114~~180 911,~~630~~751,~~142~~186.1132 23,~~081~~253,~~828~~696.7194 17,~~805~~149,~~388~~472.4256 ~~777~~939,~~946~~409.0585 1423,~~295~~093,~~305~~765.2967 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.~~230456~~358694% 0.000000% 0.000000% 0.~~230456~~358694% 0.~~146077~~229721% 0.000000% 0.000000% 0.~~146077~~229721% 30 Days 01.~~904095~~227110% 0.~~035455~~018879% 0.000000% 0.000000% 01.~~939550~~245988% 01.~~818175~~171004% 0.~~017904~~003963% 0.000000% 0.000000% 01.~~836080~~174967% 60 Days 0.~~336820~~264301% 0.~~053182~~037757% 0.~~000000~~302058% 0.000000% 0.~~390002~~604116% 0.~~313001~~229051% 0.~~047960~~025687% 0.~~000000~~318805% 0.000000% 0.~~360961~~573542% 90 Days 0.~~000000~~094393% 0.~~035455~~075514% 0.~~070909~~283179% 0.~~053182~~000000% 0.~~159546~~453087% 0.~~000000~~090284% 0.~~025746~~051517% 0.~~048629~~253109% 0.~~058908~~000000% 0.~~133283~~394910% 120 Days 0.000000% 0.~~017727~~037757% 0.~~212728~~207665% 0.~~053182~~018879% 0.~~283638~~264301% 0.000000% 0.~~006849~~043847% 0.~~125848~~158460% 0.~~032471~~013980% 0.~~165168~~216287% 150 Days 0.000000% 0.~~000000~~018879% 0.~~017727~~113272% 0.~~000000~~056636% 0.~~017727~~188786% 0.000000% 0.~~000000~~002736% 0.~~037588~~086176% 0.~~000000~~063603% 0.~~037588~~152515% 180+ Days 0.000000% 0.~~000000~~056636% 0.~~000000~~151029% 0.~~000000~~075514% 0.~~000000~~283179% 0.000000% 0.~~000000~~055177% 0.~~000000~~090179% 0.~~000000~~041557% 0.~~000000~~186913% Totals 1.~~240915~~585803% 0.~~372274~~604116% 01.~~301365~~057202% 0.~~106364~~151029% 23.~~020918~~398150% 1.~~131177~~490339% 0.~~244536~~412649% 0.~~212065~~906728% 0.~~091379~~119140% 12.~~679157~~928856%

Delinquency Status By Groups

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 1 0 0 1 6863,~~556~~284.6613 0.00 0.00 6863,~~556~~284.6613 30 Days 69 0 0 0 69 ~~313~~759,~~218~~051.3855 0.00 0.00 0.00 ~~313~~759,~~218~~051.3855 60 Days 2 0 0 4 0 24 ~~79,845.43~~ 0.00 0.00 412,545.31 0.00 79412,~~845~~545.4331 90 Days 02 0 12 0 14 0188,170.0061 0.00 21358,~~575~~786.6906 0.00 21546,~~575~~956.6967 120 Days 0 0 72 0 72 0.00 0.00 ~~599~~206,~~616~~263.2859 0.00 ~~599~~206,~~616~~263.2859 150 Days 0 01 0 0 01 0.00 021,575.0069 0.00 0.00 021,575.0069 180+ Days 0 0 04 01 05 0.00 0.00 0296,041.0056 051,230.0048 0347,272.0004 Totals 811 12 812 01 1726 ~~393~~947,~~063~~222.8116 6884,~~556~~859.6682 ~~621~~1,~~191~~273,636.9752 051,230.0048 12,~~082~~356,~~812~~948.4498 0-29 Days 0.~~065104~~067340% 0.000000% 0.000000% 0.~~065104~~067340% 0.~~029315~~028061% 0.000000% 0.000000% 0.~~029315~~028061% 30 Days 0.~~390625~~606061% 0.000000% 0.000000% 0.000000% 0.~~390625~~606061% 0.~~133933~~336568% 0.000000% 0.000000% 0.000000% 0.~~133933~~336568% 60 Days 0.~~130208~~000000% 0.000000% 0.~~000000~~269360% 0.000000% 0.~~130208~~269360% 0.~~034142~~000000% 0.000000% 0.~~000000~~182925% 0.000000% 0.~~034142~~182925% 90 Days 0.~~000000~~134680% 0.000000% 0.~~065104~~134680% 0.000000% 0.~~065104~~269360% 0.~~000000~~083436% 0.000000% 0.~~009226~~159088% 0.000000% 0.~~009226~~242524% 120 Days 0.000000% 0.000000% 0.~~455729~~134680% 0.000000% 0.~~455729~~134680% 0.000000% 0.000000% 0.~~256398~~091458% 0.000000% 0.~~256398~~091458% 150 Days 0.000000% 0.~~000000~~067340% 0.000000% 0.000000% 0.~~000000~~067340% 0.000000% 0.~~000000~~009567% 0.000000% 0.000000% 0.~~000000~~009567% 180+ Days 0.000000% 0.000000% 0.~~000000~~269360% 0.~~000000~~067340% 0.~~000000~~336700% 0.000000% 0.000000% 0.~~000000~~131266% 0.~~000000~~022716% 0.~~000000~~153982% Totals 0.~~520833~~740741% 0.~~065104~~134680% 0.~~520833~~808081% 0.~~000000~~067340% 1.~~106771~~750842% 0.~~168075~~420003% 0.~~029315~~037627% 0.~~265624~~564737% 0.~~000000~~022716% 01.~~463014~~045084% 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 1218 0 0 1218 1,~~175~~748,~~056~~045.1982 0.00 0.00 1,~~175~~748,~~056~~045.1982 30 Days 4556 21 0 0 4757 68,~~652~~474,~~222~~208.2272 ~~152~~31,~~424~~250.8433 0.00 0.00 68,~~804~~505,~~647~~459.0605 60 Days 1714 32 012 0 2028 21,~~584~~806,~~856~~045.0844 ~~408~~202,~~300~~538.5217 02,101,201.0019 0.00 24,~~993~~109,~~156~~784.6080 90 Days ~~0 2~~ 3 34 813 0 20 523,710.00 ~~219~~406,~~182~~205.0572 ~~392~~1,~~424~~636,957.0733 ~~501,504~~0.2000 12,~~113~~566,~~110~~873.3205 120 Days 0 12 59 31 912 0.00 58345,~~308~~728.4573 ~~471~~1,~~772~~043,177.3858 ~~276~~110,~~441~~233.8532 ~~806~~1,~~522~~499,139.6863 150 Days 0 0 16 03 19 0.00 0.00 ~~320~~679,~~000~~487.0046 0501,504.0020 ~~320~~1,~~000~~180,991.0066 180+ Days 0 03 04 03 010 0.00 0435,068.0035 0415,012.0048 0276,441.0085 01,126,522.0068 Totals 6273 2030 944 67 97154 910,~~237~~803,~~078~~964.3016 23,~~013~~168,~~272~~837.0512 15,~~184~~875,~~196~~836.4504 ~~777~~888,~~946~~179.0537 1320,~~212~~736,~~492~~816.8569 0-29 Days 0.~~292326~~472193% 0.000000% 0.000000% 0.~~292326~~472193% 0.~~190300~~310508% 0.000000% 0.000000% 0.~~190300~~310508% 30 Days 1.~~096224~~469045% 0.~~048721~~026233% 0.000000% 0.000000% 1.~~144945~~495278% 1.~~077324~~505285% 0.~~024685~~005551% 0.000000% 0.000000% 1.~~102009~~510836% 60 Days 0.~~414129~~367261% 0.~~073082~~052466% 0.~~000000~~314795% 0.000000% 0.~~487211~~734523% 0.~~418616~~320810% 0.~~066124~~035977% 0.~~000000~~373239% 0.000000% 0.~~484740~~730026% 90 Days 0.~~000000~~078699% 0.~~048721~~104932% 0.~~073082~~341028% 0.~~073082~~000000% 0.~~194884~~524659% 0.~~000000~~093027% 0.~~035496~~072155% 0.~~063553~~290775% 0.~~081218~~000000% 0.~~180268~~455957% 120 Days 0.000000% 0.~~024361~~052466% 0.~~121803~~236097% 0.~~073082~~026233% 0.~~219245~~314795% 0.000000% 0.~~009443~~061412% 0.~~076403~~185301% 0.~~044770~~019581% 0.~~130616~~266294% 150 Days 0.000000% 0.000000% 0.~~024361~~157398% 0.~~000000~~078699% 0.~~024361~~236097% 0.000000% 0.000000% 0.~~051824~~120698% 0.~~000000~~089083% 0.~~051824~~209781% 180+ Days 0.000000% 0.~~000000~~078699% 0.~~000000~~104932% 0.~~000000~~078699% 0.~~000000~~262329% 0.000000% 0.~~000000~~077282% 0.~~000000~~073719% 0.~~000000~~049105% 0.~~000000~~200106% Totals 1.~~510353~~915005% 0.~~487211~~786988% 01.~~219245~~154250% 0.~~146163~~183631% 24.~~362972~~039874% 1.~~495940~~919122% 0.~~326048~~562885% 01.~~191780~~043733% 0.~~125988~~157768% 23.~~139756~~683508%

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 6in REO 2 Sep-04 0.~~757450~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~161,800.00 6Oct-04 0.~~257450~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 161,463.80 Nov-~~Through~~04 ~~Rate~~0.000% 6Dec-04 0.~~257450~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Jan-05 ~~340~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~8 ~~Count~~Feb-05 50.000% Original Principal Balance 942,~~765~~350.00 ~~Number~~Mar-05 Of0.000% Current Principal Balance 939,409.85 Apr-05 0.000% May-05 0.000% Jun-05 0.091% Jul-05 0.095% Aug-05 0.119% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage ~~124~~Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~1 ~~Loan~~Sep-04 ~~Count~~0.000% 5Original Principal Balance 51,~~641~~300.00 ~~Beginning~~Oct-04 ~~Scheduled~~0.000% ~~Collateral~~Current Principal Balance ~~872~~51,~~872,095~~230.9148 ~~Ending~~Nov-04 ~~Scheduled~~0.000% ~~Collateral~~Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 1 Feb-05 0.000% Original Principal Balance ~~850~~51,~~566,179~~300.6900 ~~Ending~~Mar-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at51,230.48 31Apr-05 0.000% May-~~2005~~05 ~~851,338,294~~0.68000% ~~Monthly~~Jun-05 ~~P&I~~0.000% ~~Constant~~Jul-05 ~~5,775,580~~0.13000% ~~Special~~Aug-05 ~~Servicing~~0.023% ~~Fee~~*The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 2 12 Month REO History* New REO Loans Month REO Percentage Loans in REO 1 Sep-04 0.000% Original Principal Balance 110,500.00 ~~Prepayment~~Oct-04 ~~Penalties~~0.000% Current Principal Balance 110,233.32 Nov-04 0.00000% ~~Realized~~Dec-04 ~~Loss~~0.000% ~~Amount~~Current REO Total Jan-05 0.00000% ~~Cumulative~~Loans ~~Realized~~in ~~Loss~~REO 7 Feb-05 0.00000% ~~Scheduled~~Original Principal ~~860~~Balance 891,~~255~~050.3700 ~~Unscheduled~~Mar-05 0.000% Current Principal 21Balance 888,~~445,660~~179.8537 Apr-05 0.000% May-05 0.000% Jun-05 0.126% Jul-05 0.133% Aug-05 0.158% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Miscellaneous~~REO ~~Reporting~~Loan ~~Taget~~Detail ~~Overcollateralization~~- ~~Amount~~All 4Mortgage Loans in REO during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number REO Date State Origination Balance 1 0114363328 Aug-2005 01-Nov-2004 SC 95.00 51,~~705~~300.00 2 0114360548 Jun-2005 01-Nov-2004 MI 94.37 307,~~021~~700.8800 ~~Overcollateralization~~2 ~~Amount~~0114360605 4Jun-2005 01-Nov-2004 MI 89.74 70,~~705~~000.00 2 0114363344 Aug-2005 01-Dec-2004 MI 85.00 110,~~021~~500.8800 ~~Overcollateralization~~2 ~~Deficiency~~0114364409 ~~Amount~~Jun-2005 001-Nov-2004 TN 95.00 ~~LIBOR~~118,750.00 32 0114364821 Jun-2005 01-Oct-2004 GA 90.~~090000%~~00 ~~Net~~103,500.00 ~~Swap~~2 ~~Payment~~0114365265 ~~826~~Jun-2005 01-Nov-2004 NC 70.00 54,~~746~~600.4700 2 0114382989 Jun-2005 01-Dec-2004 NC 100.00 126,000.00

~~Group~~REO ~~Level~~Loan ~~Collateral~~Detail ~~Statement~~- ~~Group~~All 1Mortgage 2Loans ~~Total~~in ~~Collateral~~REO ~~Description~~during ~~Fixed~~Current ~~15/30~~Period &(continued) ~~ARM~~Current ~~Fixed~~Paid ~~15/30~~Current &Approximate ~~ARM~~Loan ~~Mixed~~Principal ~~Fixed~~To &Months ~~Arm~~Loan ~~Weighted~~Delinquent ~~Average~~Group ~~Coupon~~Number ~~Rate~~Balance ~~6.542441~~Date ~~6.837866~~Delinquent ~~6.757450 Weighted Average Net~~ Rate ~~6.042441~~Interest ~~6.337866 6.257450 Weighted Average Maturity 340 340 340 Beginning Loan Count~~ 1~~,559~~ ~~4,206~~0114363328 551,~~765~~230.48 ~~Loans~~01-Dec-2004 ~~Paid~~6 ~~In Full 23 101 124 Ending Loan Count 1,536 4,105 5,641 Beginning Scheduled Balance 237,599,304~~9.08875% ~~635~~3,~~272,791~~196.8339 ~~872,872,095.91~~2 ~~Ending~~0114360548 ~~Scheduled Balance 233~~306,~~626,503~~881.~~46 616,939,676.23 850,566,179.69 Record Date~~ 05~~/31/2005~~ ~~05/31/~~01-Jan-2005 ~~05/31/2005~~5 ~~Principal And Interest Constant 1,578,533~~6.72625% 410,~~197,046~~934.4174 ~~5,775,580.13~~2 ~~Scheduled~~0114360605 ~~Principal 283~~69,~~134~~875.1511 ~~577,121.22~~01-Jan-2005 ~~860,255~~5 8.37625% ~~Unscheduled Principal~~ 3,~~689,666~~305.4771 ~~17,755,994.38~~2 210114363344 110,~~445,660~~233.8532 ~~Scheduled~~01-Feb-2005 ~~Interest~~4 ~~1,295,399~~7.57125% 3,~~619,925~~643.1997 ~~4,915,324.76~~2 ~~Servicing~~0114364409 ~~Fees 98~~118,~~999~~588.7149 ~~264,697.00~~01-Dec-2004 ~~363,696.71~~6 ~~Master Servicing Fees 0~~7.00950% 05,875.0003 ~~0.00~~2 ~~Trustee~~0114364821 ~~Fee 0~~103,310.0019 ~~0.00~~01-Dec-2004 ~~0.00~~6 ~~FRY Amount 0~~8.00490% 05,490.0044 ~~0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread~~ 2 ~~0.00~~0114365265 054,543.0017 ~~0.00~~01-Dec-2004 ~~Spread~~6 ~~3 0~~9.00250% ~~0.00 0.00 Net Interest 1,196,399.86~~ 3,~~355,228~~175.1953 ~~4,551,628.05~~2 ~~Realized~~0114382989 ~~Loss Amount 0~~124,748.0004 ~~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~~01-~~Through~~Jan-2005 ~~Rate~~5 67.~~042441~~625% 65,172.~~337866 6.257450~~35

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

theMurrayhillcompany SASCO 2005-WF1 Credit Risk Manager Report May 2005 The information contained in this Report is based upon a specific point in time and reflects performance solely through that point in time. It does not forecast the performance of the portfolio in the future. The information in this Report is not investment advice concerning a particular portfolio or security, and no mention of a particular security in this Report constitutes a recommendation to buy, sell, or hold that or any other security. The Report is based upon information provided to The Murrayhill Company by third parties and therefore The Murrayhill Company cannot, and does not, warrant that the information contained in this Report is accurate or complete. Table of Contents Section One Executive Summary Section Two Prepayment Premium Analysis Section Three Analytics c 2005 The Murrayhill Company. All Rights Reserved. Section One Executive Summary SASCO 2005-WF1 Executive Summary May 2005 Transaction Summary Closing Date: 1/31/2005 Depositor: Structured Asset Securities Corporation Trustee(s): Wells Fargo Bank, N.A. Master Servicer: Aurora Loan Services Master Servicing Servicer(s): Wells Fargo Bank, N.A. Mortgage Insurer(s): Home Guaranty Insurance Corporation, Insured Credit Services, Integon Mortgage Guaranty Corporation, NYC Rehabilitation Mortgage Delinquency Reporting Method: OTS^1 Collateral Summary 4/30/2005 as a Percentage of Closing Date 4/30/2005^2 Closing Date Collateral Balance $942,469,304 $873,632,390 92.69% Loan Count 6,131 5,765 94.03% 1 OTS Method: A current loan becomes 30 days delinquent if the scheduled payment is not made by the close of business on the corresponding day of the following month. Similarly for 60 days delinquent and the second immediately succeeding month and 90 days delinquent and the third immediately succeeding month. 2 These figures are based upon information provided to Murrayhill by the servicers on a monthly basis. Collateral Statistics Loan Count Summed Balance Repurchases* 0 $0 First Payment Default 3 $452,000 Early Payment Default** 18 $2,000,563 Multiple Loans to One Borrower*** N/A N/A *Refers to loans repurchased in the current month **A default that occurs on the second or third scheduled payment ***We are currently awaiting the borrower information necessary to populate these fields Prepayments Remittance Beginning Collateral Balance Total Prepayments Percentage of Prepayment 5/25/2005 $896,261,287 $22,514,572 2.51 4/25/2005 $920,194,537 $23,043,284 2.50 3/25/2005 $934,754,480 $13,663,600 1.46 Prepayment Premium Analysis Prepayment Premium Issues from the Previous Months Outstanding Loans that did not have Premiums Remitted Remittance Loan Number PPP Flag Expiration Liquidation Date Status Date 3/25/2005 5973978 8/20/2006 2/25/2005 Awaiting servicer's response 4/25/2005 5975074 9/20/2006 3/28/2005 Awaiting servicer's response Prepayment Premium Issues for the Current Month In the 5/25/2005 remittance, a total of $252,745 was remitted to the P class. Premiums were collected on all 56 loans that were paid off with active prepayment flags during this distribution. c 2005 The Murrayhill Company. All Rights Reserved. Section Two Prepayment Premium Analysis Reconciliation of Prepayment Premiums for SASCO 2005-WF1 Mortgage Data Through: April 30, 2005 Sectopm 1: Prepayent premiums remitted to the P Class by the trustee. This information is taken from the Statement to Certificateholders prepared by the trustee. Trustee Remittance Date Class 25-May-05 25-Apr-05 25-Mar-05 25-Feb-05 P Class $252,745 $282,957 $151,348 $20,217 Section 2: Prepayment premiums collected by the servicers and remitted to the trustee. This information is reported to Murrayhill by the servicers each month. Trustee Remittance Date Servicer 25-May-05 25-Apr-05 25-Mar-05 25-Feb-05 Total $252,745 $272,515 $151,348 $20,217 Section 3: Reconciliation of the amount remitted to the P Class by the trustee, and the amounts remitted by the servicers to the trustee. Amount remitted to the P Class: $252,745 Amount remitted by servicers: $252,745 Difference: $0 Aggregate Paid-Off Loans Report for SASCO 2005-WF1 Mortgage Data Through: April 30, 2005 Trustee Remittance Date 25-May-05 25-Apr-05 25-Mar-05 25-Feb-05 Loans with Active Prepayment Flags with Premiums Remitted (A) 56 65 41 8 Loans without Prepayment Flags with Premiums Remitted 0 0 0 0 Total Loans with Premiums Remitted (B) 56 65 41 8 Loans with Active Prepayment Flags (C) 56 66 42 8 Loans without Prepayment Flags with Premiums Remitted 0 0 0 0 Subtotal (D) 56 66 42 8 Premiums Remitted for loans with Active Prepayment Flags (A/C) 100.00% 98.48% 97.62% 100.00% Total Loans with Premiums Remitted to the Subtotal (B/D) 100.00% 98.48% 97.62% 100.00% Total Paid-Off Loans (E) 132 134 79 20 Total Loans with Premiums Remitted to the Total Paid-Off Loans (B/E) 42.42% 48.51% 51.90% 40.00% Paid-Off Loans Exception Report for SASCO 2005-WF1 Mortgage Data Through: April 30, 2005 TOTAL Total Paid-Off Loans with Flags 56 Less Exceptions: Loans with Expired Prepayment Clauses* 0 Loans that Liquidated from REO* 0 Loans that Contained a Clause Allowing Prepayment Premiums to be 0 Waived at the Time of Liquidation* Loans with Discrepancies between the Data File and the Note* 0 Defaulted Liquidated Loans that Could Not Have Collected Premiums 0 because of the Acceleration of the Debt* Loans that Liquidated Through Loss Mitigation Efforts* 0 Total Paid-Off Loans with Active Prepayment Flags (C) 56 Other E Difference: Paid-Off Loans that Did Not have Premiums Collected because of State 0 Statutes Paid-Off Loans with Active Prepayment Flags that Did Not have Premiums 0 Remitted * These categories are mutually exclusive. Paid-Off Loans With Prepayment Flags for SASCO 2005-WF1 Mortgage Data Through: April 30, 2005 Loan Origination PPP Expiration Payoff Number Delinquency String Date Flag Date Balance 5972267 CCC0 2/23/2004 2 2/23/2006 $102,488 5972280 CCC0 3/5/2004 2 3/5/2006 $82,923 5972147 CCC0 3/10/2004 2 3/10/2006 $109,548 5972261 CCC0 3/25/2004 2 3/25/2006 $42,995 5972251 CCC0 3/26/2004 2 3/26/2006 $222,602 5972925 CCC0 7/20/2004 2 7/20/2006 $194,181 5973913 CCC0 7/26/2004 2 7/26/2006 $229,807 5974066 CCC0 8/4/2004 2 8/4/2006 $271,073 5973551 CCC0 8/6/2004 2 8/6/2006 $198,761 5973346 CCC0 8/12/2004 2 8/12/2006 $247,970 5975574 CCC0 8/20/2004 2 8/20/2006 $174,056 5974122 CCC0 8/25/2004 2 8/25/2006 $288,473 5974167 CCC0 8/26/2004 2 8/26/2006 $139,888 5974124 CCC0 8/27/2004 2 8/27/2006 $234,671 5974329 CCC0 9/9/2004 2 9/9/2006 $113,881 5974645 CCC0 9/9/2004 2 9/9/2006 $133,579 5974828 CCC0 9/9/2004 2 9/9/2006 $201,077 5974942 CCC0 9/10/2004 2 9/10/2006 $200,960 5974571 CCC0 9/20/2004 2 9/20/2006 $149,749 5974981 CCC0 9/20/2004 2 9/20/2006 $212,278 5975618 CCC0 9/22/2004 2 9/22/2006 $142,651 5975159 CCC0 9/24/2004 2 9/24/2006 $262,473 5975917 CCC0 9/24/2004 2 9/24/2006 $237,604 5975995 CCC0 9/24/2004 2 9/24/2006 $91,731 5975879 CCC0 9/30/2004 2 9/30/2006 $157,944 5976109 CCC0 10/1/2004 2 10/1/2006 $148,246 5975175 CCC0 10/5/2004 2 10/5/2006 $106,065 5975380 CCC0 10/5/2004 2 10/5/2006 $247,350 5976375 CCC0 10/5/2004 2 10/5/2006 $165,280 5976619 CCC0 10/5/2004 2 10/5/2006 $105,792 5977137 CCC0 10/13/2004 2 10/13/2006 $232,877 5976625 CCC0 10/14/2004 2 10/14/2006 $213,756 5977214 CCC0 10/15/2004 2 10/15/2006 $162,846 5976557 CCC0 10/18/2004 2 10/18/2006 $99,672 5976653 CCC0 10/18/2004 2 10/18/2006 $103,593 5977216 CCC0 10/18/2004 2 10/18/2006 $232,938 5977267 CCC0 10/18/2004 2 10/18/2006 $206,410 5976771 CCC0 10/21/2004 2 10/21/2006 $199,455 5977619 CCC0 10/22/2004 2 10/22/2006 $267,839 5975811 CCC0 10/25/2004 2 10/25/2006 $307,265 5977521 C330 10/26/2004 2 10/26/2006 $80,650 5977744 CCC0 11/4/2004 2 11/4/2006 $119,696 5972594 CCC0 6/8/2004 3 6/8/2007 $109,220 5973813 CCC0 7/16/2004 3 7/16/2007 $139,142 5972921 CCC0 7/19/2004 3 7/19/2007 $114,218 5973528 CCC0 8/18/2004 3 8/18/2007 $262,051 5974138 CCC0 9/8/2004 3 9/8/2007 $155,220 5975796 CCC0 9/24/2004 3 9/24/2007 $300,452 5976172 CCC0 9/24/2004 3 9/24/2007 $184,867 5976171 CCC0 9/30/2004 3 9/30/2007 $180,073 5976048 CCC0 10/5/2004 3 10/5/2007 $99,635 5976458 CCC0 10/7/2004 3 10/7/2007 $50,793 5976002 CCC0 10/8/2004 3 10/8/2007 $281,656 5976430 CCC0 10/15/2004 3 10/15/2007 $318,268 5977462 CCC0 10/18/2004 3 10/18/2007 $102,214 Paid-Off Loans With Prepayment Flags for SASCO 2005-WF1 Mortgage Data Through: April 30, 2005 (Continued) Loan PPP % of PPP No PPP PPP Number Remitted to Payoff Remitted, Remitted, Comments Balance w/ Flag No Flag 5972267 $968 1% 5972280 $1,657 2% 5972147 $3,050 3% 5972261 $1,441 3% 5972251 $5,994 3% 5972925 $4,846 2% 5973913 $8,807 4% 5974066 $13,554 5% 5973551 $4,664 2% 5973346 $7,877 3% 5975574 $4,584 3% 5974122 $8,356 3% 5974167 $3,488 2% 5974124 $2,459 1% 5974329 $3,470 3% 5974645 $2,672 2% 5974828 $5,222 3% 5974942 $5,218 3% 5974571 $4,559 3% 5974981 $2,123 1% 5975618 $4,915 3% 5975159 $5,496 2% 5975917 $7,121 3% 5975995 $1,055 1% 5975879 $4,650 3% 5976109 $2,965 2% 5975175 $3,073 3% 5975380 $4,694 2% 5976375 $3,306 2% 5976619 $2,378 2% 5977137 $5,933 3% 5976625 $4,482 2% 5977214 $3,257 2% 5976557 $3,038 3% 5976653 $2,532 2% 5977216 $6,277 3% 5977267 $6,394 3% 5976771 $5,182 3% 5977619 $5,357 2% 5975811 $10,594 3% 5977521 $845 1% 5977744 $3,286 3% 5972594 $2,922 3% 5973813 $3,747 3% 5972921 $3,366 3% 5973528 $6,796 3% 5974138 $4,341 3% 5975796 $7,126 2% 5976172 $1,484 1% 5976171 $4,046 2% 5976048 $2,585 3% 5976458 $510 1% 5976002 $5,628 2% 5976430 $7,936 2% 5977462 $5,111 5% c 2005 The Murrayhill Company. All Rights Reserved. Section Three Analytics SASCO 2005-WF1 FICO Distribution by Status Mortgage Data Through: April 30, 2005 FICO Delinquency Percentage 490 Current 0 500 Current 0.004 500 Paid Off 0.003 510 Current 0.01 510 Delinquent 0.04 510 Paid Off 0.019 520 Current 0.018 520 Delinquent 0.04 520 Paid Off 0.019 530 Current 0.027 530 Delinquent 0.08 530 Paid Off 0.03 540 Current 0.038 540 Delinquent 0.027 540 Paid Off 0.049 550 Current 0.043 550 Delinquent 0.04 550 Paid Off 0.06 560 Current 0.063 560 Delinquent 0.093 560 Paid Off 0.096 570 Current 0.081 570 Delinquent 0.067 570 Paid Off 0.128 580 Current 0.082 580 Delinquent 0.187 580 Paid Off 0.082 590 Current 0.081 590 Delinquent 0.027 590 Paid Off 0.068 600 Current 0.081 600 Delinquent 0.053 600 Paid Off 0.087 610 Current 0.068 610 Delinquent 0.133 610 Paid Off 0.063 620 Current 0.066 620 Delinquent 0.027 620 Paid Off 0.036 630 Current 0.059 630 Delinquent 0.053 630 Paid Off 0.041 640 Current 0.057 640 Delinquent 0.04 640 Paid Off 0.046 650 Current 0.047 650 Paid Off 0.041 660 Current 0.038 660 Delinquent 0.027 660 Paid Off 0.03 670 Current 0.026 670 Paid Off 0.025 680 Current 0.024 680 Delinquent 0.013 680 Paid Off 0.027 690 Current 0.016 690 Delinquent 0.027 690 Paid Off 0.016 700 Current 0.011 700 Paid Off 0.008 710 Current 0.008 720 Current 0.009 720 Paid Off 0.003 730 Current 0.008 730 Paid Off 0.003 740 Current 0.006 740 Delinquent 0.013 740 Paid Off 0.005 750 Current 0.006 750 Paid Off 0.003 760 Current 0.006 760 Paid Off 0.003 770 Current 0.005 780 Current 0.004 780 Paid Off 0.005 790 Current 0.003 800 Current 0.002 810 Current 0.001 820 Current 0 Status # of Loans Average Std. Deviation Current 5,690 605 69.352 Delinquent 75 577 81.453 Paid Off 366 593 58.125 Total: 6,131 SASCO 2005-WF1 Loan-to-Value Distribution by Status Mortgage Data Through: April 30, 2005 LTV Delinquency Percentage 0.1 Current 0.001 0.2 Current 0.003 0.3 Delinquent 0.027 0.3 Current 0.008 0.3 Paid Off 0.011 0.4 Paid Off 0.011 0.4 Delinquent 0.013 0.4 Current 0.017 0.5 Delinquent 0.027 0.5 Current 0.038 0.5 Paid Off 0.025 0.6 Current 0.068 0.6 Paid Off 0.071 0.6 Delinquent 0.08 0.7 Paid Off 0.169 0.7 Current 0.146 0.7 Delinquent 0.133 0.8 Paid Off 0.361 0.8 Delinquent 0.32 0.8 Current 0.343 0.9 Paid Off 0.306 0.9 Delinquent 0.347 0.9 Current 0.291 1 Delinquent 0.053 1 Paid Off 0.046 1 Current 0.084 Status # of Loans Average Std. Deviation Current 5,690 0.786 0.136 Delinquent 75 0.783 0.142 Paid Off 366 0.783 0.121 Total: 6,131 SASCO 2005-WF1 Balance Distribution by Status Mortgage Data Through: April 30, 2005 Balance Delinquency Percentage 0 Current 0 10000 Current 0.001 20000 Current 0.008 20000 Delinquent 0.027 30000 Current 0.028 30000 Delinquent 0.04 40000 Current 0.037 40000 Delinquent 0.013 50000 Current 0.041 50000 Delinquent 0.067 60000 Current 0.043 60000 Delinquent 0.107 70000 Current 0.052 70000 Delinquent 0.067 80000 Current 0.051 80000 Delinquent 0.08 90000 Current 0.055 90000 Delinquent 0.027 100000 Current 0.051 100000 Delinquent 0.08 110000 Current 0.055 110000 Delinquent 0.067 120000 Current 0.05 120000 Delinquent 0.04 130000 Current 0.047 130000 Delinquent 0.04 140000 Current 0.04 140000 Delinquent 0.013 150000 Current 0.043 150000 Delinquent 0.067 160000 Current 0.045 170000 Current 0.034 170000 Delinquent 0.04 180000 Current 0.034 180000 Delinquent 0.027 190000 Current 0.026 190000 Delinquent 0.04 200000 Current 0.029 200000 Delinquent 0.013 210000 Current 0.022 210000 Delinquent 0.027 220000 Current 0.023 220000 Delinquent 0.027 230000 Current 0.019 240000 Current 0.019 240000 Delinquent 0.013 250000 Current 0.014 250000 Delinquent 0.013 260000 Current 0.017 270000 Current 0.014 280000 Current 0.011 290000 Current 0.008 290000 Delinquent 0.013 300000 Current 0.007 310000 Current 0.01 310000 Delinquent 0.013 320000 Current 0.007 320000 Delinquent 0.027 330000 Current 0.006 340000 Current 0.003 340000 Delinquent 0.013 350000 Current 0.008 360000 Current 0.005 370000 Current 0.005 380000 Current 0.005 390000 Current 0.005 400000 Current 0.007 410000 Current 0.002 420000 Current 0.002 430000 Current 0.001 440000 Current 0.001 450000 Current 0.001 460000 Current 0.001 470000 Current 0.001 480000 Current 0 490000 Current 0.001 500000 Current 0.001 510000 Current 0.001 520000 Current 0.001 530000 Current 0 540000 Current 0.001 550000 Current 0 560000 Current 0.001 570000 Current 0 580000 Current 0 590000 Current 0.001 600000 Current 0.001 610000 Current 0 620000 Current 0 640000 Current 0 710000 Current 0 720000 Current 0 800000 Current 0 840000 Current 0 Status # of Loans Average Std. Deviation Current 5,690 151,896.93 94,982.89 Delinquent 75 124,517.77 75,863.47 Total: 5,765 SASCO 2005-WF1 Mortgage Type Distribution by Status Mortgage Data Through: April 30, 2005 Mortgage Type Delinquency Percentage Investment Home Current 0.031 Investment Home Delinquent 0.04 Investment Home Paid Off 0.016 Primary Home Current 0.965 Primary Home Delinquent 0.96 Primary Home Paid Off 0.981 Second Home Current 0.004 Second Home Paid Off 0.003 Mortgage Type Loan Count Total Balance Avg. Balance Std. Deviation (Unknown) 2 250,465.10 125,232.55 58,913.08 ARM 4,525 635,555,105.25 140,454.17 94,264.30 Fixed 1,604 237,826,819.56 148,271.08 110,106.32 Total: 6,131 873,632,389.91 SASCO 2005-WF1 Mortgage Term Distribution by Status Mortgage Data Through: April 30, 2005 Mortgage Term Delinquency Percentage 120 Current 0.001 120 Paid Off 0.003 180 Paid Off 0.033 180 Current 0.068 180 Delinquent 0.053 240 Current 0.005 240 Paid Off 0.005 300 Current 0.001 360 Current 0.925 360 Paid Off 0.959 360 Delinquent 0.947 # of Loans Other 120 180 240 300 360 6,131 0 7 403 32 3 5,686 SASCO 2005-WF1 Mortgage Purpose Distribution Mortgage Data Through: April 30, 2005 Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Purpose Number Percentage Cash-out 4,404 71.8% Cash-out 4,043 71.1% Cash-out 54 72.0% Cash-out 307 83.9% refinance refinance refinance refinance Purchase 1,217 19.8% Purchase 1,162 20.4% Purchase 16 21.3% Purchase 39 10.7% Rate/term 510 8.3% Rate/term 485 8.5% Rate/term 5 6.7% Rate/term 20 5.5% refinance refinance refinance refinance Home 0 0.0% Home 0 0.0% Home 0 0.0% Home 0 0.0% Improvement Improvement Improvement Improvement Other 0 0.0% Other 0 0.0% Other 0 0.0% Other 0 0.0% Total 6,131 100% Total 5,690 100% Total 75 100% Total 366 100% SASCO 2005-WF1 Ownership Distribution by Status Mortgage Data Through: April 30, 2005 Ownership Type Delinquency Percentage Investment Home Current 0.031 Investment Home Delinquent 0.04 Investment Home Paid Off 0.016 Primary Home Current 0.965 Primary Home Delinquent 0.96 Primary Home Paid Off 0.981 Second Home Current 0.004 Second Home Paid Off 0.003 Title # of Loans Investment Home 183 Primary Home 5,924 Second Home 24 Total: 6,131 SASCO 2005-WF1 Delinquent Balance Over Time Mortgage Data Through: April 30, 2005 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 1/31/2005 771002.55 0 26779.44 0 0 2/28/2005 5572980.46 0 0 0 0 3/31/2005 3614019.96 542723.76 0 2007440.33 0 4/30/2005 5149558.73 119800.74 393817.56 3675655.89 0 SASCO 2005-WF1 Delinquent Count Over Time Mortgage Data Through: April 30, 2005 AsOfDate 30 Days 60 Days 90 Days Foreclosure REO 1/31/2005 4 0 1 0 0 2/28/2005 45 0 0 0 0 3/31/2005 27 3 0 17 0 4/30/2005 42 1 2 30 0 SASCO 2005-WF1 Conditional Prepayment Rates Mortgage Data Through: April 30, 2005 Date Distribution Date CPR 3-Month MA 6-Month MA 12-Month MA 4/30/2005 5/25/2005 26.38% 23.13% 3/31/2005 4/25/2005 26.29% 2/28/2005 3/25/2005 16.28% 1/31/2005 2/25/2005 9.85% SASCO 2005-WF1 Historical SDA Performance Mortgage Data Through: April 30, 2005 Weighted Monthly Date Average Age Default Amt Default Rate CDR (F-R) SDA Curve SDA % 30-Apr-05 7.43 $0 0.00% 0.00% 0.15% 0% 31-Mar-05 6.45 $0 0.00% 0.00% 0.13% 0% 28-Feb-05 5.48 $0 0.00% 0.00% 0.11% 0% 31-Jan-05 4.52 $0 0.00% 0.00% 0.09% 0% Averages: 5.97 $0 0.00% 0.00% 0.12% 0%

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

Ex 99.2

Filing Compare · Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-WF1