8-K 1 sasco516_8k0601.txt 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): January 25, 2006 SASCO (Depositor) (Issuer in respect of Structured Asset Securities Corporation, Mortgage (Exact name of registrant as specified in charter) Delaware 33-63714 95-4449516 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) , , N/A 91110-7137 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (818)-304-4428 Not Applicable (Former name, former address and former fiscal year, 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. []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)) Section 8 - Other Events Item 8.01 Other Events Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: January 25, 2006 SASCO By: /s/ David Howard ------------------------------ Name: David Howard Assistant Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated January 25, 2006 Payment Date: 01/25/06 ------------------------------------------------------------ Structured Asset Securities Corporation, Mortgage Pass-Through Certificates Series 2005-16 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior 1A1 ~~107~~105,~~383~~243,~~835~~486.6953 5.500000% 1502,~~497,433~~199.5418 ~~492~~482,~~175~~365.9198 1984,~~989,609~~565.4516 0.00 0.00 1A2 85,562,000.00 5.500000% 0.00 392,159.17 392,159.17 0.00 0.00 1A3 15,052,000.00 5.500000% 0.00 68,988.33 68,988.33 0.00 0.00 1A4 8,607,000.00 5.500000% 0.00 39,448.75 39,448.75 0.00 0.00 2A1 ~~358~~352,~~915~~757,~~744~~137.4025 5.500000% 1,~~327~~584,~~830~~585.4228 1,~~645~~616,~~030~~803.5055 23,~~972~~201,~~860~~388.9182 0.00 0.00 2A2 40,538,000.00 5.500000% 0.00 185,799.17 185,799.17 0.00 0.00 2A3 33,~~992~~971,~~773~~140.0126 5.500000% 7,~~139~~325.5389 155,~~800~~701.2106 ~~162~~163,~~939~~026.7495 0.00 0.00 3A1 ~~229~~224,~~664~~447,~~519~~642.0594 6.000000% 1,~~586~~638,~~232~~643.3313 1,~~148~~122,~~322~~238.6021 2,~~734~~760,~~554~~881.9334 0.00 0.00 3A2 9,~~570~~352,~~184~~795.1548 6.000000% 6668,~~098~~282.7471 4746,~~850~~763.9298 ~~113~~115,~~949~~046.6669 0.00 0.00 4A1 ~~110~~109,~~334~~812,~~746~~551.6609 5.~~693885~~694633% 72218,~~526~~331.3098 ~~523~~521,~~527~~118.8349 ~~596~~739,~~054~~450.1347 0.00 0.00 AP 7,~~490~~412,~~101~~225.1682 0.000000% 1812,~~270~~103.9827 0.00 1812,~~270~~103.9827 0.00 0.00 AX 1,~~260~~221,~~842~~080.9664 5.500000% 0.00 5,~~778~~596.8662 5,~~778~~596.8662 0.00 0.00 PAX ~~664~~655,~~965~~462.5599 5.500000% 0.00 3,~~047~~004.7621 3,~~047~~004.7621 0.00 0.00 P 0.00 0.000000% 0.00 06,160.0080 06,160.0080 0.00 0.00 Residual R 0.00 5.500000% 0.00 0.0049 0.0049 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate B1 16,~~808~~791,~~330~~174.4638 5.~~640256~~640311% 5,~~675~~778.5121 7978,~~002~~922.7487 84,~~678~~701.2408 0.00 0.00 B2 3,~~676~~673,~~759~~006.8198 5.~~640256~~640311% 1,~~241~~263.5096 17,~~281~~264.5608 18,~~523~~528.05 0.00 0.00 B3 5,~~777~~771,~~051~~154.3780 5.~~640256~~640311% 1,~~950~~985.6898 27,~~153~~125.3792 29,~~104~~111.0590 0.00 0.00 B4 2,~~100~~098,~~291~~147.5682 5.~~640256~~640311% ~~709~~722.1902 9,~~871~~861.8284 10,~~581~~583.0086 0.00 0.00 B5 3,~~150~~147,~~937~~721.1704 5.~~640256~~640311% 1,~~063~~083.9520 14,~~810~~795.0810 15,~~874~~878.0230 0.00 0.00 B6 1,~~575~~573,~~468~~860.5952 5.~~640256~~640311% ~~531~~541.9760 7,~~405~~397.0455 7,~~937~~939.0115 0.00 0.00 B7 2,~~626~~623,~~114~~433.2075 5.~~640256~~640311% ~~886~~902.7378 12,~~343~~330.3082 13,~~230~~233.0360 0.00 0.00 B8 3,~~150~~147,~~937~~721.1704 5.~~640256~~640311% 1,~~063~~083.9520 14,~~810~~795.0810 15,~~874~~878.0230 0.00 0.00 B9 2,~~100~~098,~~810~~666.6739 5.~~640256~~640311% ~~709~~722.3620 9,~~874~~864.2628 10,~~583~~586.6247 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 1,~~048~~033,~~077~~680,~~605~~866.1110 - 4,~~589~~045,~~364~~554.6760 4,~~900~~838,~~482~~506.2336 98,~~489~~884,~~846~~060.9096 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior 1A1 ~~105~~104,~~886~~741,~~402~~287.1535 0.00 1A2 85,562,000.00 0.00 1A3 15,052,000.00 0.00 1A4 8,607,000.00 0.00 2A1 ~~357~~351,~~587~~172,~~913~~551.98 0.00 2A2 40,538,000.00 0.00 2A3 33,~~985~~963,~~633~~814.4736 0.00 3A1 ~~228~~222,~~078~~808,~~286~~999.7281 0.00 3A2 9,~~504~~284,~~085~~512.4176 0.00 4A1 ~~110~~109,~~262~~594,~~220~~219.3611 0.00 AP 7,~~471~~400,~~830~~122.1855 0.00 AX 1,~~250~~210,~~219~~344.1832 0.00 PAX ~~664~~643,~~578~~039.8335 0.00 P 0.00 0.00 Residual R 0.00 0.00 -------------------------------------------------------------------------------- Subordinate B1 16,~~802~~785,~~654~~396.9617 0.00 B2 3,~~675~~671,~~518~~743.3102 0.00 B3 5,~~775~~769,~~100~~168.6982 0.00 B4 2,~~099~~097,~~582~~425.3880 0.00 B5 3,~~149~~146,~~873~~637.2384 0.00 B6 1,~~574~~573,~~936~~318.6192 0.00 B7 2,~~625~~622,~~227~~530.4697 0.00 B8 3,~~149~~146,~~873~~637.2384 0.00 B9 2,~~100~~097,~~101~~944.3119 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 1,~~043~~029,~~488~~635,~~240~~311.4450 - --------------------------------------------------------------------------------

Payment Date: 01/25/06 ------------------------------------------------------------ (null) Structured Asset Securities Corporation, Mortgage Pass-Through Certificates Series 2005-16 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior 1A1 ~~107~~105,~~383~~243,~~835~~486.6953 5.500000% 86359DQK6 134.~~885954~~656978 4.~~564030~~473061 ~~981~~971.~~902503~~283660 1A2 85,562,000.00 5.500000% 86359DQL4 0.000000 4.583333 1,000.000000 1A3 15,052,000.00 5.500000% 86359DQM2 0.000000 4.583333 1,000.000000 1A4 8,607,000.00 5.500000% 86359DQN0 0.000000 4.583333 1,000.000000 2A1 ~~358~~352,~~915~~757,~~744~~137.4025 5.500000% 86359DQP5 34.~~690868~~404550 4.~~572565~~494105 ~~993~~976.~~959640~~127351 2A2 40,538,000.00 5.500000% 86359DQQ3 0.000000 4.583333 1,000.000000 2A3 33,~~992~~971,~~773~~140.0126 5.500000% 86359DQR1 0.~~209986~~215467 4.~~582359~~579443 ~~999~~998.~~577455~~935717 3A1 ~~229~~224,~~664~~447,~~519~~642.0594 6.000000% 86359DQS9 67.~~872400~~099471 4.~~975143~~862131 ~~988~~965.~~156104~~326759 3A2 9,~~570~~352,~~184~~795.1548 6.000000% 86359DQT7 67.~~872400~~099471 4.~~975143~~862131 ~~988~~965.~~156104~~326759 4A1 ~~110~~109,~~334~~812,~~746~~551.6609 5.~~693885~~694633% 86359DQU4 01.~~656543~~976445 4.~~739224~~717413 ~~998~~992.~~146237~~099171 AP 7,~~490~~412,~~101~~225.1682 0.000000% 86359DQV2 21.~~436165~~613793 0.000000 ~~996~~986.~~258118~~696965 AX 1,~~260~~221,~~842~~080.9664 5.500000% 86359DQW0 0.000000 4.~~518006~~375524 ~~977~~946.~~440854~~266068 PAX ~~664~~655,~~965~~462.5599 5.500000% 86359DQX8 0.000000 4.~~581631~~516158 ~~999~~966.~~047282~~667435 P 0.00 0.000000% 0.000000 0.000000 0.000000 Residual R 0.00 5.500000% 86359DRE9 0.000000 04.~~026472~~852697 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate B1 16,~~808~~791,~~330~~174.4638 5.~~640256~~640311% 86359DQY6 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B2 3,~~676~~673,~~759~~006.8198 5.~~640256~~640311% 86359DQZ3 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B3 5,~~777~~771,~~051~~154.3780 5.~~640256~~640311% 86359DRA7 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B4 2,~~100~~098,~~291~~147.5682 5.~~640256~~640311% 86359DRB5 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B5 3,~~150~~147,~~937~~721.1704 5.~~640256~~640311% 86359DRC3 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B6 1,~~575~~573,~~468~~860.5952 5.~~640256~~640311% 86359DRD1 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B7 2,~~626~~623,~~114~~433.2075 5.~~640256~~640311% 86359DRF6 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B8 3,~~150~~147,~~937~~721.1704 5.~~640256~~640311% 86359DRG4 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 B9 2,~~100~~098,~~810~~666.6739 5.~~640256~~640311% 86359DRH2 0.~~337546~~343655 4.~~698628~~693878 ~~999~~998.~~325262~~298809 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 1,~~048~~033,~~077~~680,~~605~~866.1110 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ (null) Structured Asset Securities Corporation, Mortgage Pass-Through Certificates Series 2005-16 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Prin balance 75,164,512.34 196,552,315.12 126,959,133.13 Loan count 122 334 570 Avg loan rate 5.534390% 5.866721% 5.557286% Prepay amount 348,796.97 70,380.83 28,585.20 Prin balance 423,380,083.42 114,065,126.02 11,577,225.12 Loan count 2015 777 24 Avg loan rate 5.870907% 5.944633% 6.329100% Prepay amount 2,026,448.17 157,315.92 407,629.60 Total ----- Prin balance 50,460,667.52 31,476,248.83 1,029,635,311.50 Loan count 276 167 4285 Avg loan rate 6.363657% 6.363085% 5.86 Prepay amount 258,430.94 391,772.27 3,689,359.90 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Master serv fees 15,739.81 40,981.05 26,461.53 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 221,623.34 668,402.42 398,130.36 Master serv fees 88,256.93 23,809.57 2,498.12 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 1,460,691.77 312,992.97 32,757.91 Total ----- Master serv fees 10,571.77 6,641.47 214,960.26 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 184,706.79 136,538.92 3,415,844.48 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts ---------------- Bankruptcy 0.00 0.00 0.00 Fraud 1,517,859.19 3,989,028.19 2,600,154.99 Special Hazard 0.00 0.00 0.00 Bankruptcy 0.00 0.00 0.00 Fraud 8,635,007.76 2,299,004.39 252,099.04 Special Hazard 0.00 0.00 0.00 Total ----- Bankruptcy 0.00 0.00 0.00 Fraud 1,077,913.88 643,642.83 21,014,710.26 Special Hazard 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 96.042167% 100.000000% 992,755,979.37 ----------------------------------------------------------------------------- Junior 3.957833% 0.000000% 40,910,803.58 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 0 0.00 60 to 89 days 0 0.00 90 or more 0 0.00 Foreclosure 0 0.00 Totals: 0 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 8,884,060.96 8,884,060.96 Principal remittance amount 4,045,554.60 4,045,554.60 Interest remittance amount 4,838,506.36 4,838,506.36

Filing Compare · Structured Asset Securities Corp. 2005-16