8-K 1 sasc0301_200304.htm MONTHLY DISTRIBUTION STATEMENTS 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: April 25, 2003
(Date of earliest event reported)

Structured Asset Securities Corporation
(as Depositor under the Trust Agreement, dated as of January 1, 2003,
providing for the issuance of Mortgage Pass-Through Certificates,
Series 2003-1)

Structured Asset Securities Corporation
(Exact name of registrant as specified in its charter)

Delaware 333-92140 74-2440850
(State or other juris- (Commission (I.R.S. Employer
diction of organization) File No.) Identification No.)

745 Seventh Avenue, 7th Floor, New York, NY. 10019
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (212) 526-7000

No Change
(Former name or former address, if changed since last report.)

ITEM 5. OTHER EVENTS

This current report on Form 8-K relates to the monthly distribution
reported to the holders of Structured Asset Securities Corporation
Mortgage Pass-Through Certificates, Series 2003-1,
which was made on April 25, 2003.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS

(c) Exhibits

Exhibit No. Description

99.1 Monthly distribution report pursuant to Section 4.03 of the
Trust Agreement for distribution on April 25, 2003.

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.

LASALLE BANK NATIONAL ASSOCIATION,
IN ITS CAPACITY AS TRUSTEE
UNDER THE TRUST AGREEMENT ON
BEHALF OF STRUCTURED ASSET
SECURITIES CORPORATION

By: /s Russell Goldenberg
Russell Goldenberg,
Group Senior Vice President

Date: April 28,2003

SECURITIES AND EXCHANGE COMMISSION

ABN AMRO

LASALLE BANK

N.A.

STRUCTURED ASSET SECURITIES CORPORATION

STATEMENT DATE:

04/25/2003

MORTGAGE PASS-THROUGH CERTIFICATES

PAYMENT DATE:

04/25/2003

135 S. LASALLE STREET SUITE 1625

CHICAGO, IL 60603-4159

USA

SERIES 2003-1

PRIOR PAYMENT:

03/25/2003

NEXT PAYMENT:

05/27/2003

RECORD DATE:

03/31/2003

ABN AMRO ACCT: 67-9156-70-3

ADMINISTRATOR:

REPORTING PACKAGE TABLE OF CONTENTS

ANALYST:

MEGAN OLSON (312) 904-6709

ELIZABETH KWON 714-238-6752

MEGAN.OLSON@ABNAMRO.COM

ELIZABETH.KWON@ABNAMRO.COM

Washington, D.C. 20549

PAGE(S)

ISSUE ID:

SASC0301

CLOSING DATE:

1/30/2003

STATEMENTS TO CERTIFICATEHOLDERS

PAGE 2-4

COMPONENT DETAIL REPORT

PAGE 5

FIRST PAYMENT DATE:

2/25/2003

MONTHLY DATA FILE NAME:

CASH RECONCILIATION SUMMARY

PAGE 6

ASSUMED FINAL PAYMENT: DATE:

2/25/2023

SASC0301_200304_3.ZIP

BOND INTEREST RECONCILIATION

PAGE 7

OTHER RELATED INFORMATION

PAGE 8

ASSET-BACKED FACTS ~ 15 MONTH LOAN STATUS SUMMARY

PAGE 9-12

ASSET-BACKED FACTS ~ 15 MONTH PAYOFF/LOSS SUMMARY

PAGE 13-16

MODIFIED LOAN DETAIL

PAGE 17

REALIZED LOSS DETAIL

PAGE 18

HISTORICAL REO REPORT

PAGE 19

PARTIES TO THE TRANSACTION

DEPOSITOR: STRUCTURED ASSET SECURITIES CORPORATION

UNDERWRITER: LEHMAN BROTHERS INC.

MASTER SERVICER: AURORA LOAN SERVICES, INC.

SPECIAL SERVICER: BANK OF AMERICA

RATING AGENCY: STANDARD & POOR'S RATING SERVICES/FITCH RATINGS/MOODY'S INVESTORS SERVICE, INC.

INFORMATION IS AVAILABLE FOR THIS ISSUE FROM THE FOLLOWING SOURCES

LASALLE WEB SITE

WWW.ETRUSTEE.NET

SERVICER WEB SITE

WWW.ALSERVICES.COM

LASALLE FACTOR LINE

(800) 246-5761

04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

PAGE 1 OF 19

FORM 8-K





	ABN AMRO

	LASALLE BANK		N.A.
*STRUCTURED ASSET SECURITIES CORPORATION*

										*MORTGAGE PASS-THROUGH CERTIFICATES*																											STATEMENT DATE:								04/25/2003

										*SERIES 2003-1*																											PAYMENT DATE:						04/25/2003

WAC:						6.099114%																															PRIOR PAYMENT:							03/25/2003
																																		NEXT PAYMENT:							05/27/2003
WAMM:						176
																																		RECORD DATE:								03/31/2003
										*REMIC IV*
										*ABN AMRO ACCT: 67-9156-70-3*


									ORIGINAL							OPENING		PRINCIPAL			PRINCIPAL			NEGATIVE				CLOSING					INTEREST				INTEREST				PASS-THROUGH
				CLASS				FACE VALUE (1)								BALANCE		PAYMENT			ADJ. OR LOSS			AMORTIZATION				BALANCE					PAYMENT (2)				ADJUSTMENT				RATE

			CUSIP												PER $ 1000				PER $ 1000			PER $ 1000			PER $ 1000				PER $ 1000						PER $ 1000		PER $ 1000		NEXT RATE(3)
	1-A1						70,922,000.00					69,562,194.56					722,973.50			0.00			0.00				68,839,221.06				247,525.48					0.00				4.27000000%
	86359ALD3													980.826747131			10.193924311			0.000000000			0.000000000				970.632822819					3.490108570				0.000000000						FIXED

	1-A2						50,000,000.00					49,094,472.60					481,445.58			0.00			0.00				48,613,027.02				132,555.08					0.00				3.24000000%
	86359ALE1													981.889452000			9.628911600			0.000000000			0.000000000				972.260540400					2.651101600				0.000000000						FIXED

	1-A3						51,108,000.00					51,108,000.00					0.00			0.00			0.00				51,108,000.00				223,597.50					0.00				5.25000000%
	86359ALF8													1000.000000000			0.000000000			0.000000000			0.000000000				1000.000000000					4.375000000				0.000000000						FIXED

	1-A4						30,000,000.00					28,395,421.54					5,591,367.58			0.00			0.00				22,804,053.96				124,229.97					0.00				5.25000000%
	86359ALG6													946.514051333			186.378919333			0.000000000			0.000000000				760.135132000					4.140999000				0.000000000						FIXED

	1-A5						65,207,000.00					62,126,685.89					4,478,211.58			0.00			0.00				57,648,474.31				271,804.25					0.00				5.25000000%
	86359ALH4													952.760990231			68.676853405			0.000000000			0.000000000				884.084136826					4.168329320				0.000000000						FIXED

	1-A6						1,000.00					1,008.77					0.00			0.00			4.41				1,013.18				0.00					0.00				5.25000000%
	86359ALJ0													1008.770000000			0.000000000			0.000000000			4.410000000				1013.180000000					0.000000000				0.000000000						FIXED

	1-A7						32,381,630.48				N	31,781,112.49					0.00			0.00			0.00				31,461,832.56				139,042.37					0.00				5.25000000%
	86359ALK7													981.454979842			0.000000000			0.000000000			0.000000000				971.595070836					4.293865625				0.000000000						FIXED

	1-AX						10,965,092.33				N	10,520,839.10					0.00			0.00			0.00				9,835,828.37				48,220.51					0.00				5.50000000%
	86359ALL5													959.484770704			0.000000000			0.000000000			0.000000000				897.012817949					4.397638301				0.000000000						FIXED

	2-A1						109,974,000.00					102,612,936.88					4,312,468.30			0.00			0.00				98,300,468.58				513,064.68					0.00				6.00000000%
	86359ALM3													933.065423464			39.213525924			0.000000000			0.000000000				893.851897539					4.665327077				0.000000000						FIXED

	3-A1						147,368,000.00					138,568,437.04					8,086,666.23			0.00			0.00				130,481,770.81				617,784.28					0.00				5.35000000%
	86359ALN1													940.288509310			54.873963343			0.000000000			0.000000000				885.414545967					4.192119592				0.000000000						FIXED

	4-A1						58,380,000.00					55,868,102.16					133,727.00			0.00			0.00				55,734,375.16				256,062.13					0.00				5.50000000%
	86359ALP6													956.973315519			2.290630353			0.000000000			0.000000000				954.682685166					4.386127612				0.000000000						FIXED

	AP						4,585,879.00					4,533,316.57					61,785.76			0.00			0.00				4,471,530.81				0.00					0.00				0.00000000%
	86359ALQ4													988.538199547			13.473046280			0.000000000			0.000000000				975.065153267					0.000000000				0.000000000						N/A

	AX						36,778,320.09				N	33,547,118.24					0.00			0.00			0.00				32,048,075.67				167,735.59					0.00				6.00000000%
	86359ALR2													912.143843381			0.000000000			0.000000000			0.000000000				871.384978748					4.560719184				0.000000000						FIXED

	B1						8,110,000.00					8,059,361.14					25,592.47			0.00			0.00				8,033,768.67				36,545.96					0.00				5.44151767%
	86359ALS0													993.755997534			3.155668311			0.000000000			0.000000000				990.600329223					4.506283600				0.000000000						5.423255637%

	B2						1,802,000.00					1,790,748.31					5,686.51			0.00			0.00				1,785,061.80				8,120.32					0.00				5.44151767%
	86359ALT8													993.755998890			3.155665927			0.000000000			0.000000000				990.600332963					4.506281909				0.000000000						5.423255637%

	B3						1,201,000.00					1,193,500.95					3,789.96			0.00			0.00				1,189,710.99				5,412.05					0.00				5.44151767%
	86359ALU5													993.755995004			3.155670275			0.000000000			0.000000000				990.600324729					4.506286428				0.000000000						5.423255637%

	B4						600,000.00					596,253.60					1,893.40			0.00			0.00				594,360.20				2,703.77					0.00				5.44151767%
	86359ALW1/U85985KP0													993.756000000			3.155666667			0.000000000			0.000000000				990.600333333					4.506283333				0.000000000						5.423255637%

	B5						600,000.00					596,253.60					1,893.40			0.00			0.00				594,360.20				2,703.77					0.00				5.44151767%
	86359ALX9/U85985KQ8													993.756000000			3.155666667			0.000000000			0.000000000				990.600333333					4.506283333				0.000000000						5.423255637%

	B6						905,630.00					899,975.24					2,857.87			0.00			0.00				897,117.37				4,081.03					0.00				5.44151767%
	86359ALY7/U85985KR6													993.755993066			3.155670638			0.000000000			0.000000000				990.600322427					4.506288440				0.000000000						5.423255637%

	R						100.00					0.00					0.00			0.00			0.00				0.00				0.00					0.00				N/A
	86359ALV3													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000						FIXED

	R-1						0.00					0.00					0.00			0.00			0.00				0.00				0.00					0.00				N/A
	9ABSK355													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000

	R-2						0.00					0.00					0.00			0.00			0.00				0.00				0.00					0.00				N/A
	9ABSK356													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000

	R-3						0.00					0.00					0.00			0.00			0.00				0.00				0.00					0.00				N/A
	9ABSK357													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000



		TOTAL			600,764,609.00								575,006,668.85				23,910,359.14			0.00			4.41				551,096,314.12				2,801,188.74					0.00

																										TOTAL P&I PAYMENT				26,711,547.88


	P						0.00					0.00					0.00			0.00			0.00				0.00				7,110.94					7,110.94				N/A
	9ABSK353													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000

	E						0.00					0.00					0.00			0.00			0.00				0.00				0.00					0.00				N/A
	9ABSK354													0.000000000			0.000000000			0.000000000			0.000000000				0.000000000					0.000000000				0.000000000



		TOTAL			0.00								0.00				0.00			0.00			0.00				0.00				7,110.94					7,110.94

																										TOTAL P&I PAYMENT				7,110.94


NOTES: (1) N DENOTES NOTIONAL BALANCE NOT INCLUDED IN TOTAL (2) ACCRUED INTEREST PLUS/MINUS INTEREST ADJUSTMENT MINUS DEFERRED INTEREST EQUALS INTEREST PAYMENT (3) ESTIMATED. * DENOTES CONTROLLING CLASS
04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																						PAGE 2 OF 19

CURRENT REPORT





	ABN AMRO

	LASALLE BANK		N.A.
*STRUCTURED ASSET SECURITIES CORPORATION*

							*MORTGAGE PASS-THROUGH CERTIFICATES*																						STATEMENT DATE:								04/25/2003

							*SERIES 2003-1*																						PAYMENT DATE:					04/25/2003

																													PRIOR PAYMENT:						03/25/2003
																													NEXT PAYMENT:							05/27/2003
																													RECORD DATE:								03/31/2003
							*COMPONENT DETAIL*

							*ABN AMRO ACCT: 67-9156-70-3*


						ORIGINAL					OPENING		PRINCIPAL			PRINCIPAL			NEGATIVE			CLOSING				INTEREST			INTEREST				PASS-THROUGH
			CLASS		FACE VALUE (1)						BALANCE		PAYMENT			ADJ. OR LOSS			AMORTIZATION			BALANCE				PAYMENT (2)			ADJUSTMENT				RATE

		CUSIP								PER $ 1000				PER $ 1000			PER $ 1000			PER $ 1000			PER $ 1000				PER $ 1000		PER $ 1000		NEXT RATE(3)
	AP-1			2,081,938.00				2,062,539.31				8,179.14			0.00			0.00			2,054,360.17			0.00				0.00				0.00000000%
									990.682388236			3.928618431			0.000000000			0.000000000			986.753769805				0.000000000			0.000000000

	AP-2			282,815.00				262,005.20				47,372.35			0.00			0.00			214,632.85			0.00				0.00				0.00000000%
									926.419037180			167.502961300			0.000000000			0.000000000			758.916075880				0.000000000			0.000000000

	AP-3			1,194,565.00				1,186,668.42				4,011.46			0.00			0.00			1,182,656.96			0.00				0.00				0.00000000%
									993.389576959			3.358092695			0.000000000			0.000000000			990.031484264				0.000000000			0.000000000

	AP-4			1,026,561.00				1,022,103.64				2,222.81			0.00			0.00			1,019,880.83			0.00				0.00				0.00000000%
									995.657968694			2.165297532			0.000000000			0.000000000			993.492671161				0.000000000			0.000000000

	AX-2			12,446,678.32				11,463,699.59				0.00			0.00			0.00			10,970,122.16			57,318.50				0.00				6.00000000%
									921.024814434			0.000000000			0.000000000			0.000000000			881.369460828				4.605124237			0.000000000

	AX-3			21,109,650.41				19,284,094.34				0.00			0.00			0.00			18,285,911.34			96,420.47				0.00				6.00000000%
									913.520307796			0.000000000			0.000000000			0.000000000			866.234683419				4.567601458			0.000000000

	AX-4			3,221,991.36				2,799,324.31				0.00			0.00			0.00			2,792,042.17			13,996.62				0.00				6.00000000%
									868.818068463			0.000000000			0.000000000			0.000000000			866.557932049				4.344089861			0.000000000

NOTES: (1) N DENOTES NOTIONAL BALANCE NOT INCLUDED IN TOTAL (2) ACCRUED INTEREST PLUS/MINUS INTEREST ADJUSTMENT MINUS DEFERRED INTEREST EQUALS INTEREST PAYMENT (3) ESTIMATED. * DENOTES CONTROLLING CLASS
04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																														PAGE 5 OF 19

PURSUANT TO SECTION 13 OR 15(d) OF THE





		ABN AMRO

		LASALLE BANK	N.A.
	*STRUCTURED ASSET SECURITIES CORPORATION*
	*MORTGAGE PASS-THROUGH CERTIFICATES*																									STATEMENT DATE:					04/25/2003
																									PAYMENT DATE:								04/25/2003
					*SERIES 2003-1*																									PRIOR PAYMENT:							03/25/2003
																									NEXT PAYMENT:								05/27/2003
																									RECORD DATE:								03/31/2003
					*ABN AMRO ACCT: 67-9156-70-3*


*CASH RECONCILIATION SUMMARY*



				INTEREST SUMMARY								PRINCIPAL SUMMARY																				SERVICING FEE SUMMARY
				CURRENT SCHEDULED INTEREST		798,539.50				SCHEDULED PRINCIPAL:
				LESS DEFERRED INTEREST		0.00				CURRENT SCHEDULED PRINCIPAL							525,208.14										CURRENT SERVICING FEES									33,746.83
				LESS PPIS REDUCING SCHEDULED INT		0.00																					PLUS FEES ADVANCED FOR PPIS									0.00
										ADVANCED SCHEDULED PRINCIPAL							1,304,985.53										LESS REDUCTION FOR PPIS									0.00
				PLUS GROSS ADVANCE INTEREST		2,036,400.50				SCHEDULED PRINCIPAL										1,830,193.67
				LESS ASER INTEREST ADV REDUCTION					0.00																		PLUS DELINQUENT SERVICING FEES									87,586.25
				LESS OTHER INTEREST NOT ADVANCED		0.00				UNSCHEDULED PRINCIPAL:
				LESS OTHER ADJUSTMENT		0.00				CURTAILMENTS							22,080,161.05											TOTAL SERVICING FEES									121,333.08
										PREPAYMENTS IN FULL							0.00
				TOTAL		2,834,940.00
				UNSCHEDULED INTEREST:						LIQUIDATION PROCEEDS							0.00
										REPURCHASE PROCEEDS							0.00
				PREPAYMENT PENALTIES		7,110.94
				YIELD MAINTENANCE PENALTIES		0.00				OTHER PRINCIPAL PROCEEDS							0.00
				OTHER INTEREST PROCEEDS		0.00				TOTAL UNSCHEDULED PRINCIPAL											22,080,161.05
				TOTAL		7,110.94				REMITTANCE PRINCIPAL							23,910,354.72

				LESS FEE PAID TO SERVICER		(33,746.83)					REMITTANCE P&I DUE TRUST								26,718,658.83
				LESS FEE STRIPS PAID BY SERVICER		0.00
											REMITTANCE P&I DUE CERTS							26,718,658.83
				LESS FEES & EXPENSES PAID BY/TO SERVICER																											PPIS SUMMARY
				SPECIAL SERVICING FEES			0.00						POOL BALANCE SUMMARY
				WORKOUT FEES		0.00										BALANCE								COUNT			GROSS PPIS									0.00
				LIQUIDATION FEES		0.00
										BEGINNING POOL				575,006,669.73									1,547				REDUCED BY PPIE									0.00
				INTEREST DUE SERV ON ADVANCES		0.00				SCHEDULED PRINCIPAL				1,830,193.67													REDUCED BY SHORTFALLS IN FEES									0.00
				NON RECOVERABLE ADVANCES		0.00				UNSCHEDULED PRINCIPAL				22,080,161.05								0					REDUCED BY OTHER AMOUNTS									0.00
				MISC. FEES & EXPENSES		0.00				DEFERRED INTEREST				0.00
										LIQUIDATIONS				0.00								0					PPIS REDUCING SCHEDULED INTEREST									0.00
																									PPIS REDUCING SERVICING FEE									0.00
				TOTAL UNSCHEDULED FEES & EXPENSES		0.00				REPURCHASES				0.00								0
				TOTAL INTEREST DUE TRUST		2,808,304.11				ENDING POOL					551,096,315.01							1,493						PPIS DUE CERTIFICATE									0.00
				LESS FEES & EXPENSES PAID BY/TO TRUST																										ADVANCE SUMMARY (ADVANCE MADE BY SERVICER)
																									PRINCIPAL			INTEREST
				TRUSTEE FEE		0.00
				FEE STRIPS		0.00																							PRIOR OUTSTANDING					1,330,655.99							2,119,999.24
				MISC. FEES		0.00
				INTEREST RESERVE WITHHOLDING		0.00																							PLUS CURRENT PERIOD					1,304,985.53					2,036,400.50
				PLUS INTEREST RESERVE DEPOSIT		0.00																							LESS RECOVERED					(1,316,142.92)						(2,082,806.99)
				TOTAL				0.00																					LESS NON RECOVERED					0.00						0.00
																									ENDING OUTSTANDING			1,319,498.60							2,073,592.76
				TOTAL INTEREST DUE CERTS		2,808,304.11


		04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																				PAGE 6 OF 19

SECURITIES AND EXCHANGE ACT OF 1934





	ABN AMRO

	LASALLE BANK		N.A.

					*STRUCTURED ASSET SECURITIES CORPORATION*

															*MORTGAGE PASS-THROUGH CERTIFICATES*																																	STATEMENT DATE:					04/25/2003
																																																PAYMENT DATE:					04/25/2003
															*SERIES 2003-1*
																																																PRIOR PAYMENT:						03/25/2003
																																		NEXT PAYMENT:										05/27/2003
																																		RECORD DATE:											03/31/2003


															*ABN AMRO ACCT: 67-9156-70-3*
															*BOND INTEREST RECONCILIATION*


																							DEDUCTIONS																			ADDITIONS
																																		REMAINING
													ACCRUAL						PASS									ACCRUED
DEFERRED &

						PRIOR					INT ACCRUAL					PREPAY-						OTHER			DISTRIBUTABLE							INTEREST	CURRENT PERIOD						OUTSTANDING
																																		CREDIT SUPPORT
													THRU							CERTIFICATE								ALLOCABLE				ACCRETION					INTEREST		INT. SHORT-					ON PRIOR			MENT						INTEREST			CERTIFICATE			PAYMENT		(SHORTFALL)/	INTEREST
			CLASS			METHOD DAYS								RATE					INTEREST								PPIS				INTEREST					LOSS/EXP					FALLS DUE			SHORTFALL (3)					PENALTIES	PROCEEDS (1)
INTEREST (2)

				AMOUNT				RECOVERY				SHORTFALLS			ORIGINAL						CURRENT(4)

		1-A1					30/360		30	4.270000000%								247,525.48								0.00				0.00					0.00					0.00			0.00					0.00			0.00				247,525.48			247,525.48		0.00		0.00	1.86%	2.38%
		1-A2					30/360		30	3.240000000%								132,555.08								0.00				0.00					0.00					0.00			0.00					0.00			0.00				132,555.08			132,555.08		0.00		0.00	1.86%	2.38%
		1-A3					30/360		30	5.250000000%								223,597.50								0.00				0.00					0.00					0.00			0.00					0.00			0.00				223,597.50			223,597.50		0.00		0.00	1.86%	2.38%
		1-A4					30/360		30	5.250000000%								124,229.97								0.00				0.00					0.00					0.00			0.00					0.00			0.00				124,229.97			124,229.97		0.00		0.00	1.86%	2.38%
		1-A5					30/360		30	5.250000000%								271,804.25								0.00				0.00					0.00					0.00			0.00					0.00			0.00				271,804.25			271,804.25		0.00		0.00	1.86%	2.38%
		1-A6					30/360		30	5.250000000%								4.41								0.00				4.41					0.00					0.00			0.00					0.00			0.00				0.00			0.00		0.00		0.00	1.86%	2.38%
		1-A7					30/360		30	5.250000000%								139,042.37								0.00				0.00					0.00					0.00			0.00					0.00			0.00				139,042.37			139,042.37		0.00		0.00	1.86%	2.38%
		1-AX					30/360		30	5.500000000%								48,220.51								0.00				0.00					0.00					0.00			0.00					0.00			0.00				48,220.51			48,220.51		0.00		0.00	1.86%	2.38%
		2-A1					30/360		30	6.000000000%								513,064.68								0.00				0.00					0.00					0.00			0.00					0.00			0.00				513,064.68			513,064.68		0.00		0.00	1.86%	2.38%
		3-A1					30/360		30	5.350000000%								617,784.28								0.00				0.00					0.00					0.00			0.00					0.00			0.00				617,784.28			617,784.28		0.00		0.00	1.86%	2.38%
		4-A1					30/360		30	5.500000000%								256,062.13								0.00				0.00					0.00					0.00			0.00					0.00			0.00				256,062.13			256,062.13		0.00		0.00	1.86%	2.38%
		AP					30/360		30	0.000000000%								0.00								0.00				0.00					0.00					0.00			0.00					0.00			0.00				0.00			0.00		0.00		0.00	1.86%	2.38%
		AX					30/360		30	6.000000000%								167,735.59								0.00				0.00					0.00					0.00			0.00					0.00			0.00				167,735.59			167,735.59		0.00		0.00	1.86%	2.38%
		B1					30/360		30	5.441517668%								36,545.96								0.00				0.00					0.00					0.00			0.00					0.00			0.00				36,545.96			36,545.96		0.00		0.00	0.50%	0.92%
		B2					30/360		30	5.441517668%								8,120.32								0.00				0.00					0.00					0.00			0.00					0.00			0.00				8,120.32			8,120.32		0.00		0.00	0.20%	0.59%
		B3					30/360		30	5.441517668%								5,412.05								0.00				0.00					0.00					0.00			0.00					0.00			0.00				5,412.05			5,412.05		0.00		0.00	0.00%	0.38%
		B4					30/360		30	5.441517668%								2,703.77								0.00				0.00					0.00					0.00			0.00					0.00			0.00				2,703.77			2,703.77		0.00		0.00	0.00%	0.27%
		B5					30/360		30	5.441517668%								2,703.77								0.00				0.00					0.00					0.00			0.00					0.00			0.00				2,703.77			2,703.77		0.00		0.00	0.00%	0.16%
		B6					30/360		30	5.441517668%								4,081.03								0.00				0.00					0.00					0.00			0.00					0.00			0.00				4,081.03			4,081.03		0.00		0.00	0.00%	0.00%
		P					30/360		30	0.000000000%								0.00								0.00				0.00					0.00					0.00			0.00					0.00			0.00				0.00			7,110.94		0.00		0.00	NA	NA
		E					30/360		30	0.000000000%								0.00								0.00				0.00					0.00					0.00			0.00					0.00			0.00				0.00			0.00		0.00		0.00	NA	NA
																	2,801,193.15							0.00					4.41						0.00			0.00					0.00			0.00						0.00			2,801,188.74		2,808,299.68			0.00		0.00

	(1) OTHER INTEREST PROCEEDS ARE ADDITIONAL INTEREST AMOUNTS SPECIFICALLY ALLOCATED TO THE BOND(S) AND USED IN DETERMINING THE BONDS DISTRIBUTABLE INTEREST.
	(2) ACCRUED - DEDUCTIONS + ADDITIONS INTEREST
	(3) INCLUDES INTEREST ACCRUED ON OUTSTANDING INTEREST SHORTFALLS AND/OR LOSS ALLOCATIONS. WHERE APPLICABLE.
	(4) DETERMINED AS FOLLOWS: (A) THE ENDING BALANCE OF ALL THE CLASSES LESS (B) THE SUM OF (I) THE ENDING BALANCE OF THE CLASS AND (II) THE ENDING BALANCE OF ALL CLASSES WHICH ARE NOT SUBORDINATE TO THE CLASS DIVIDED BY (A).
																																		PAGE 7 OF 19
	04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

Date of Report (Date of earliest event reported)





		ABN AMRO

		LASALLE BANK		N.A.
	*STRUCTURED ASSET SECURITIES CORPORATION*
	*MORTGAGE PASS-THROUGH CERTIFICATES*																											STATEMENT DATE:			04/25/2003
								*SERIES 2003-1*																									PAYMENT DATE:				04/25/2003
																																PRIOR PAYMENT:				03/25/2003
																																NEXT PAYMENT:					05/27/2003
																																RECORD DATE:						03/31/2003
								*ABN AMRO ACCT: 67-9156-70-3*
								*OTHER RELATED INFORMATION*


							SPECIAL HAZARD COVERAGE					FRAUD LOSS COVERAGE														BANKRUPTCY LOSS COVERAGE


BEGINNING
BALANCE

CURRENT
REDUCTION

ENDING
BALANCE

BEGINNING
BALANCE

CURRENT
REDUCTION

ENDING
BALANCE

BEGINNING
BALANCE

CURRENT
REDUCTION

ENDING
BALANCE

						6,908,894.48			0.00	6,908,894.48	12,015,292.00							0.00				12,015,292.00			100,000.00					0.00				100,000.00




																	GROUP I					GROUP II		GROUP III				GROUP IV						TOTAL
					NUMBER OF PAYOFFS:										0					0				0				0						0
					AGGREGATE PAYOFF AMOUNTS:											0.00				0.00				0.00					0.00					0.00
					NUMBER OF CURTAILMENTS:									0							0			0					0					0
					AGGREGATE CURTAILMENT AMOUNTS:										0.00					0.00				0.00				0.00						0.00
					NUMBER OF LOANS IN FORECLOSURE:									0						0				0				0						0
					BOOK VALUE OF LOANS IN FORECLOSURE:									0.00						0.00				0.00				0.00						0.00
					PRIOR REALIZED LOSSES ALLOCATED TO THE CERTIFICATES:										0.00							0.00		0.00				0.00						0.00
					CURRENT REALIZED LOSSES ALLOCATED TO THE CERTIFICATES:										0.00					0.00				0.00				0.00						0.00
					CUMULATIVE REALIZED LOSSES ALLOCATED TO THE CERTIFICATES SINCE CUTOFF:										0.00					0.00				0.00				0.00						0.00
					BEGINNING PRINCIPLE BALANCE:								0.00						0.00				0.00				0.00					0.00
					ENDING PRINCIPLE BALANCE:								0.00						0.00				0.00				0.00					0.00









			04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																PAGE 8 OF 19

January 30, 2003





		ABN AMRO

		LASALLE BANK		N.A.
		*STRUCTURED ASSET SECURITIES CORPORATION*

																																	STATEMENT DATE:							04/25/2003
												*MORTGAGE PASS-THROUGH CERTIFICATES*																															PAYMENT DATE:							04/25/2003
																																											*SERIES 2003-1*
												PRIOR PAYMENT:									03/25/2003
																																	NEXT PAYMENT:								05/27/2003
																																	RECORD DATE:									03/31/2003

												*ABN AMRO ACCT: 67-9156-70-3*

												*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY*

																				*POOL I*

											DELINQUENCY AGING CATEGORIES																									SPECIAL EVENT CATEGORIES (1)


DISTRIBUTION
DATE
DELINQ 1 MONTH								DELINQ 2 MONTHS					DELINQ 3+ MONTHS					FORECLOSURE							REO				MODIFICATIONS									SPECIALLY SERVICED						BANKRUPTCY
	# BALANCE								# BALANCE					# BALANCE					# BALANCE						# BALANCE							# BALANCE							# BALANCE							# BALANCE


					04/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0


					03/25/03		3		1,558,279						1	638,830				0		0			0	0				0	0			0			0				0		0					0			0
						0.55%				0.58%			0.18%				0.24%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
					02/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0
						0.00%				0.00%			0.00%				0.00%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
			(1) NOTE: MODIFICATION, SPECIALLY SERVICED & BANKRUPTCY TOTALS ARE INCLUDED IN THE APPROPRIATE DELINQUENCY AGING CATEGORY
				04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																											PAGE 9 OF 19

STRUCTURED ASSET SECURITIES CORPORATION (as Depositor under the Trust Agreement, dated as of January 1, 2003, providing for the issuance of Mortgage Pass-Through Certificates, Series 2003-1)





		ABN AMRO

		LASALLE BANK		N.A.
		*STRUCTURED ASSET SECURITIES CORPORATION*

																																	STATEMENT DATE:							04/25/2003
												*MORTGAGE PASS-THROUGH CERTIFICATES*																															PAYMENT DATE:							04/25/2003
																																											*SERIES 2003-1*
												PRIOR PAYMENT:									03/25/2003
																																	NEXT PAYMENT:								05/27/2003
																																	RECORD DATE:									03/31/2003

												*ABN AMRO ACCT: 67-9156-70-3*

												*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY*

																				*POOL II*

											DELINQUENCY AGING CATEGORIES																									SPECIAL EVENT CATEGORIES (1)


DISTRIBUTION
DATE
DELINQ 1 MONTH								DELINQ 2 MONTHS					DELINQ 3+ MONTHS					FORECLOSURE							REO				MODIFICATIONS									SPECIALLY SERVICED						BANKRUPTCY
	# BALANCE								# BALANCE					# BALANCE					# BALANCE						# BALANCE							# BALANCE							# BALANCE							# BALANCE


					04/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0


					03/25/03		5		842,443						1	66,489				0		0			0	0				0	0			0			0				0		0					0			0
						1.16%				0.80%			0.23%				0.06%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
					02/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0
						0.00%				0.00%			0.00%				0.00%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
			(1) NOTE: MODIFICATION, SPECIALLY SERVICED & BANKRUPTCY TOTALS ARE INCLUDED IN THE APPROPRIATE DELINQUENCY AGING CATEGORY
				04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																											PAGE 10 OF 19

Structured Asset Securities Corporation





		ABN AMRO

		LASALLE BANK		N.A.
		*STRUCTURED ASSET SECURITIES CORPORATION*

																																	STATEMENT DATE:							04/25/2003
												*MORTGAGE PASS-THROUGH CERTIFICATES*																															PAYMENT DATE:							04/25/2003
																																											*SERIES 2003-1*
												PRIOR PAYMENT:									03/25/2003
																																	NEXT PAYMENT:								05/27/2003
																																	RECORD DATE:									03/31/2003

												*ABN AMRO ACCT: 67-9156-70-3*

												*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY*

																				*POOL III*

											DELINQUENCY AGING CATEGORIES																									SPECIAL EVENT CATEGORIES (1)


DISTRIBUTION
DATE
DELINQ 1 MONTH								DELINQ 2 MONTHS					DELINQ 3+ MONTHS					FORECLOSURE							REO				MODIFICATIONS									SPECIALLY SERVICED						BANKRUPTCY
	# BALANCE								# BALANCE					# BALANCE					# BALANCE						# BALANCE							# BALANCE							# BALANCE							# BALANCE


					04/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0


					03/25/03		6		1,769,523						3	426,116				1		268,770			0	0				0	0			0			0				0		0					0			0
						1.38%				1.24%			0.69%				0.30%			0.23%			0.19%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
					02/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0
						0.00%				0.00%			0.00%				0.00%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
			(1) NOTE: MODIFICATION, SPECIALLY SERVICED & BANKRUPTCY TOTALS ARE INCLUDED IN THE APPROPRIATE DELINQUENCY AGING CATEGORY
				04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																											PAGE 11 OF 19

(Exact Name of Registrant as Specified in its Charter)





		ABN AMRO

		LASALLE BANK		N.A.
		*STRUCTURED ASSET SECURITIES CORPORATION*

																																	STATEMENT DATE:							04/25/2003
												*MORTGAGE PASS-THROUGH CERTIFICATES*																															PAYMENT DATE:							04/25/2003
																																											*SERIES 2003-1*
												PRIOR PAYMENT:									03/25/2003
																																	NEXT PAYMENT:								05/27/2003
																																	RECORD DATE:									03/31/2003

												*ABN AMRO ACCT: 67-9156-70-3*

												*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL LOAN STATUS SUMMARY*

																				*POOL IV*

											DELINQUENCY AGING CATEGORIES																									SPECIAL EVENT CATEGORIES (1)


DISTRIBUTION
DATE
DELINQ 1 MONTH								DELINQ 2 MONTHS					DELINQ 3+ MONTHS					FORECLOSURE							REO				MODIFICATIONS									SPECIALLY SERVICED						BANKRUPTCY
	# BALANCE								# BALANCE					# BALANCE					# BALANCE						# BALANCE							# BALANCE							# BALANCE							# BALANCE


					04/25/03		0		0						0	0				0		0			0	0				0	0			0			0				0		0					0			0


					03/25/03		1		370,386						0	0				0		0			0	0				0	0			0			0				0		0					0			0
						0.76%				0.64%			0.00%				0.00%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
					02/25/03		1		370,823						0	0				0		0			0	0				0	0			0			0				0		0					0			0
						0.75%				0.63%			0.00%				0.00%			0.00%			0.00%	0.00%			0.00%	0.00%				0.00%			0.00%			0.00%			0.00%				0.00%				0.00%			0.00%
			(1) NOTE: MODIFICATION, SPECIALLY SERVICED & BANKRUPTCY TOTALS ARE INCLUDED IN THE APPROPRIATE DELINQUENCY AGING CATEGORY
				04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.																																											PAGE 12 OF 19

Delaware	333-92140	74-2440850
			ABN AMRO
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
			LASALLE BANK		N.A.
			STRUCTURED ASSET SECURITIES CORPORATION
			MORTGAGE PASS-THROUGH CERTIFICATES																																				STATEMENT DATE:				04/25/2003
																																													PAYMENT DATE:				04/25/2003
													SERIES 2003-1																																PRIOR PAYMENT:					03/25/2003
																																													NEXT PAYMENT:						05/27/2003
																																													RECORD DATE:							03/31/2003
													ABN AMRO ACCT: 67-9156-70-3
													ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL PAYOFF/LOSS SUMMARY
																			POOL I
									ENDING POOL (1)							PAYOFFS(2)				PENALTIES				APPRAISAL REDUCT. (2)					LIQUIDATIONS (2)						REALIZED LOSSES (2)							REMAINING TERM						CURR WEIGHTED AVG.
DISTRIBUTION
DATE
				# BALANCE						# BALANCE						# AMOUNT					# BALANCE						# BALANCE					# AMOUNT								LIFE		AMORT		COUPON REMIT
						04/25/03		0			0				0		0					0	0			0	0			0			0			0		0					0
							0.00%					0.00%
						03/25/03		550			268,365,535				0		0					0	0			0	0			0			0			0		0					173		173		5.68%					5.43%
							34.10%					44.83%		0.00%				0.00%							0.00%			0.00%			0.00%			0.00%			0.00%				0.00%
						02/25/03		555			271,735,234				6		2,555,918					0	0			0	0			0			0			0		0					174		174		5.68%					5.43%
							34.41%					45.39%		1.07%				0.93%							0.00%			0.00%			0.00%			0.00%			0.00%				0.00%
				(1) PERCENTAGE BASED ON POOL AS OF CUTOFF. (2) PERCENTAGE BASED ON POOL AS OF BEGINNING OF PERIOD.
																																														PAGE 13 OF 19
					04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

745 Seventh Avenue, 7th Floor New York, NY (Address of Principal Executive Offices) 10019 (Zip Code)





	ABN AMRO

	LASALLE BANK		N.A.
	*STRUCTURED ASSET SECURITIES CORPORATION*
	*MORTGAGE PASS-THROUGH CERTIFICATES*																																STATEMENT DATE:						04/25/2003
																													PAYMENT DATE:								04/25/2003
											*SERIES 2003-1*																															PRIOR PAYMENT:					03/25/2003
																													NEXT PAYMENT:										05/27/2003
																													RECORD DATE:											03/31/2003
											*ABN AMRO ACCT: 67-9156-70-3*
											*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL PAYOFF/LOSS SUMMARY*
																	*POOL II*
							ENDING POOL (1)							PAYOFFS(2)				PENALTIES				APPRAISAL REDUCT. (2)					LIQUIDATIONS (2)							REALIZED LOSSES (2)									REMAINING TERM						CURR WEIGHTED AVG.

DISTRIBUTION
DATE
		# BALANCE						# BALANCE						# AMOUNT					# BALANCE						# BALANCE						# AMOUNT									LIFE			AMORT		COUPON REMIT
				04/25/03		0			0				0		0					0	0			0	0			0				0			0			0						0
					0.00%					0.00%
				03/25/03		430			105,342,771				0		0					2	11,143			0	0			0				0			0			0						172		173		6.90%		6.64%
					26.66%					17.60%		0.00%				0.00%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
				02/25/03		440			109,802,897				12		2,606,478					0	0			0	0			0				0			0			0						173		174		6.91%		6.65%
					27.28%					18.34%		2.65%				2.31%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
		(1) PERCENTAGE BASED ON POOL AS OF CUTOFF. (2) PERCENTAGE BASED ON POOL AS OF BEGINNING OF PERIOD.
																													PAGE 14 OF 19
			04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

Registrant’s telephone number, including area code: (212) 526-7000





	ABN AMRO

	LASALLE BANK		N.A.
	*STRUCTURED ASSET SECURITIES CORPORATION*
	*MORTGAGE PASS-THROUGH CERTIFICATES*																																STATEMENT DATE:						04/25/2003
																													PAYMENT DATE:								04/25/2003
											*SERIES 2003-1*																															PRIOR PAYMENT:					03/25/2003
																													NEXT PAYMENT:										05/27/2003
																													RECORD DATE:											03/31/2003
											*ABN AMRO ACCT: 67-9156-70-3*
											*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL PAYOFF/LOSS SUMMARY*
																	*POOL III*
							ENDING POOL (1)							PAYOFFS(2)				PENALTIES				APPRAISAL REDUCT. (2)					LIQUIDATIONS (2)							REALIZED LOSSES (2)									REMAINING TERM						CURR WEIGHTED AVG.

DISTRIBUTION
DATE
		# BALANCE						# BALANCE						# AMOUNT					# BALANCE						# BALANCE						# AMOUNT									LIFE			AMORT		COUPON REMIT
				04/25/03		0			0				0		0					0	0			0	0			0				0			0			0						0
					0.00%					0.00%
				03/25/03		436			143,077,377				0		0					1	13,034			0	0			0				0			0			0						166		167		6.38%		6.13%
					27.03%					23.90%		0.00%				0.00%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
				02/25/03		448			147,895,069				15		3,458,496					2	5,052			0	0			0				0			0			0						167		168		6.39%		6.14%
					27.77%					24.70%		3.24%				2.28%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
		(1) PERCENTAGE BASED ON POOL AS OF CUTOFF. (2) PERCENTAGE BASED ON POOL AS OF BEGINNING OF PERIOD.
																													PAGE 15 OF 19
			04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

No Change





	ABN AMRO

	LASALLE BANK		N.A.
	*STRUCTURED ASSET SECURITIES CORPORATION*
	*MORTGAGE PASS-THROUGH CERTIFICATES*																																STATEMENT DATE:						04/25/2003
																													PAYMENT DATE:								04/25/2003
											*SERIES 2003-1*																															PRIOR PAYMENT:					03/25/2003
																													NEXT PAYMENT:										05/27/2003
																													RECORD DATE:											03/31/2003
											*ABN AMRO ACCT: 67-9156-70-3*
											*ASSET-BACKED FACTS ~ 15 MONTH HISTORICAL PAYOFF/LOSS SUMMARY*
																	*POOL IV*
							ENDING POOL (1)							PAYOFFS(2)				PENALTIES				APPRAISAL REDUCT. (2)					LIQUIDATIONS (2)							REALIZED LOSSES (2)									REMAINING TERM						CURR WEIGHTED AVG.

DISTRIBUTION
DATE
		# BALANCE						# BALANCE						# AMOUNT					# BALANCE						# BALANCE						# AMOUNT									LIFE			AMORT		COUPON REMIT
				04/25/03		0			0				0		0					0	0			0	0			0				0			0			0						0
					0.00%					0.00%
				03/25/03		131			58,220,988				0		0					1	11,626			0	0			0				0			0			0						234		229		5.96%		5.71%
					8.12%					9.73%		0.00%				0.00%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
				02/25/03		134			59,292,959				3		1,162,551					0	0			0	0			0				0			0			0						234		230		5.98%		5.73%
					8.31%					9.90%		2.19%				1.91%							0.00%			0.00%				0.00%			0.00%			0.00%					0.00%
		(1) PERCENTAGE BASED ON POOL AS OF CUTOFF. (2) PERCENTAGE BASED ON POOL AS OF BEGINNING OF PERIOD.
																													PAGE 16 OF 19
			04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

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

ABN AMRO

LASALLE BANK

N.A.

STRUCTURED ASSET SECURITIES CORPORATION

STATEMENT DATE:

04/25/2003

MORTGAGE PASS-THROUGH CERTIFICATES

PAYMENT DATE:

04/25/2003

SERIES 2003-1

PRIOR PAYMENT:

03/25/2003

NEXT PAYMENT:

05/27/2003

RECORD DATE:

03/31/2003

ABN AMRO ACCT: 67-9156-70-3

MODIFIED LOAN DETAIL

CUTOFF

MATURITY

DATE

MODIFIED

MATURITY

DATE

DISCLOSURE

CONTROL #

MODIFICATION

DATE

MODIFICATION

DESCRIPTION

04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

PAGE 17 OF 19

Item 5. Other Events

ABN AMRO

LASALLE BANK

N.A.

STRUCTURED ASSET SECURITIES CORPORATION

STATEMENT DATE:

04/25/2003

MORTGAGE PASS-THROUGH CERTIFICATES

PAYMENT DATE:

04/25/2003

SERIES 2003-1

PRIOR PAYMENT:

03/25/2003

NEXT PAYMENT:

05/27/2003

RECORD DATE:

03/31/2003

ABN AMRO ACCT: 67-9156-70-3

REALIZED LOSS DETAIL

BEGINNING

SCHEDULED

BALANCE

GROSS PROCEEDS

AS A % OF

SCHED. BALANCE

AGGREGATE

LIQUIDATION

EXPENSES *

NET

LIQUIDATION

PROCEEDS

NET PROCEEDS

AS A % OF

SCHED. BALANCE

PERIOD

DISCLOSURE

CONTROL #

APPRAISAL

DATE

APPRAISAL

VALUE

GROSS

PROCEEDS

REALIZED

LOSS

CURRENT TOTAL

CUMULATIVE

* AGGREGATE LIQUIDATION EXPENSES ALSO INCLUDE OUTSTANDING P&I ADVANCES AND UNPAID SERVICING FEES, UNPAID TRUSTEE FEES, ETC..

04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

PAGE 18 OF 19

The Registrant registered issuances of Mortgage Pass-Through Certificates, 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. 333-92140) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $600,764,609 in aggregate principal amount of Class 1-A1, Class 1-A2, Class 1-A3, Class 1-A4, Class 1-A5, Class 1-A6 , Class 1-A7, Class 1-AX, Class 2-A1, Class 3-A1, Class 4-A1, Class AP, Class AX, Class B1, Class B2, Class B3 and Class R, Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2003-1 on January 30, 2003. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated October 28, 2002, as supplemented by the Prospectus Supplement dated January 28, 2003 (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.

ABN AMRO

LASALLE BANK

N.A.

STRUCTURED ASSET SECURITIES CORPORATION

MORTGAGE PASS-THROUGH CERTIFICATES

STATEMENT DATE:

04/25/2003

PAYMENT DATE:

04/25/2003

SERIES 2003-1

PRIOR PAYMENT:

03/25/2003

NEXT PAYMENT:

05/27/2003

RECORD DATE:

03/31/2003

ABN AMRO ACCT: 67-9156-70-3

HISTORICAL COLLATERAL LEVEL REO REPORT

RECENT

APPRAISAL

VALUE

APPRAISAL

REDUCTION

AMOUNT

DISCLOSURE

CONTROL #

REO

DATE

CITY

STATE

PROPERTY

TYPE

ACTUAL

BALANCE

SCHEDULED

BALANCE

DATE

LIQUIDATED

LIQUIDATION

PROCEEDS

LIQUIDATION

EXPENSES

REALIZED

LOSS

PAGE 19 OF 19

04/22/2003 - 09:02 (K333-K360) 2003 LASALLE BANK N.A.

The Certificates were issued pursuant to a Trust Agreement (the “Trust Agreement”), attached hereto as Exhibit 4.1, dated as of January 1, 2003, among Structured Asset Securities Corporation, as depositor, LaSalle Bank National Association, as trustee, and Aurora Loan Services Inc., as master servicer. The “Certificates” consist of the following classes: Class 1-A1, Class 1-A2, Class 1-A3, Class 1-A4, Class 1-A5, Class 1-A6 , Class 1-A7, Class 1-AX, Class 2-A1, Class 3-A1, Class 4-A1, Class AP, Class AX, Class B1, Class B2, Class B3, Class B4, Class B5, Class B6, Class E, Class P and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”) the assets of which consist primarily of four pools of certain fixed rate, conventional, fully amortizing and balloon, first lien, residential mortgage loans (the “Mortgage Loans”) with an aggregate outstanding principal balance of $600,764,610 as of January 1, 2003, together with certain other assets. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.

Item 7.

Financial Statements; Pro Forma Financial Information and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

1.1

Terms Agreement dated January 28, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as the Underwriter.

4.1

Trust Agreement dated as of January 1, 2003, among Structured Asset Securities Corporation, as Depositor, LaSalle Bank National Association, as Trustee, and Aurora Loan Services Inc., as Master Servicer.

99.1

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

99.2

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

99.3

Servicing Agreement, dated as of January 1, 2003, among Aurora Loan Services Inc., as Master Servicer and Servicer, Lehman Capital, A Division of Lehman Brothers Holdings Inc., as a Seller, and Lehman Brothers Bank, FSB, as a Seller.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STRUCTURED ASSET SECURITIES

CORPORATION

By: /s/ Ellen V

. Kiernan

Name: Ellen V. Kiernan

Title: Senior Vice President

Dated: January 30, 2003

EXHIBIT INDEX

Exhibit No.

Description

1.1

Terms Agreement dated January 28, 2003 between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as the Underwriter.

4.1

99.1

99.2

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

99.3

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERTS SERIES 2003-1