UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 25, 2004

STRUCTURED ASSET SECURITIES CORPORATION (as Depositor under the Trust Agreement, dated as of April 1, 2004, providing for the issuance of Mortgage Pass-Through Ceritficates, Series 2004-7)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-106925
(Commission
File Number)

74-2440850
(IRS Employer
Identification No.)

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

10019
(Zip Code)

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

(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))

Section 8 - Other Events

Item 8.01. 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 2004-7, which was made on August 25, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly distribution report pursuant to Section 4.03 of the Trust Agreement for the distribution on August 25, 2004.

(Exhibit No. Description)

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.

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

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

Date: August 30, 2004

STRUCTURED ASSET SECURITIES CORPORATION

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Administrator:

Rita Lopez 312.904.0351
rita.lopez@abnamro.com

Analyst:

David Ratner 714.259.6251
david.ratner@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Bond Interest Reconciliation
Cash Reconciliation Summary
Shortfall Summary Report

Other Related Information

Asset-Backed Facts ~ 15 Month Loan Status Summary
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary

Modified Loan Detail
Realized Loss Detail
Historical REO Report

Page 2-4
Page 5
Page 6-11
Page 12

Page 13

Page 14-19
Page 20

Page 21
Page 22

Page 23

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

SASC0407

SASC0407_200408_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

30-Apr-04
25-May-04

25-May-37

Parties to The Transaction

Issuer: Structured Asset Securities Corporation

Underwriter: Lehman Brothers Inc.

Master Servicer: Aurora Loan Services, Inc.

Rating Agency: Moody's Investors Service, Inc./Standard & Poor's

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.alservices.com

www.etrustee.net

Page 1 of 24

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.962211%

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

STRUCTURED ASSET SECURITIES CORPORATION

Mortgage Pass-Through Certificates

Series 2004-7

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

328

REMIC II

Statement Date:

ABN AMRO Acct: 721785.2

965.244062515

10.621574082

0.000000000

954.622488433

4.635911398

5.762272856%

0.00

0.000000000

5.76340627%

0.000000000

86359BQK0

1-A1

463,826,000.00

447,705,292.54

4,926,562.22

0.00

442,778,730.32

2,150,256.24

979.654291873

15.480798073

0.000000000

964.173493800

4.471616105

5.480386984%

0.00

0.000000000

5.47738040%

0.000000000

86359BQL8

2-A1

37,578,000.00

36,813,448.98

581,737.43

0.00

36,231,711.55

168,034.39

982.037459658

9.089899602

0.000000000

972.947560056

4.501004943

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359BQM6

3-A1

51,993,000.00

51,059,073.64

472,611.15

0.00

50,586,462.49

234,020.75

987.789430830

6.990335026

0.000000000

980.799095804

0.000000000

0.00

0.000000000

N/A

0.000000000

86359BQP9

2,107,507.00

2,081,773.14

14,732.18

0.00

2,067,040.96

0.00

987.522749186

0.000000000

974.760809434

4.526149808

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359BQQ7

1,137,733.00

1,123,537.22

0.00

1,109,017.54

5,149.55

920.963290220

0.000000000

917.718680644

4.221091276

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359BQN4

PAX

384,339.00

353,962.11

0.00

352,715.08

1,622.33

995.961558432

1.356056427

0.000000000

994.605502005

4.746277352

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

86359BQR5

14,213,000.00

14,155,601.63

19,273.63

0.00

14,136,328.00

67,458.84

995.961559268

1.356056749

0.000000000

994.605502519

4.746276850

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

86359BQS3

3,771,000.00

3,755,771.04

5,113.69

0.00

3,750,657.35

17,898.21

995.961560345

1.356056034

0.000000000

994.605504310

4.746275862

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

86359BQT1

2,320,000.00

2,310,630.82

3,146.05

0.00

2,307,484.77

11,011.36

995.961561576

1.356054187

0.000000000

994.605507389

4.746275862

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

863598BRL7/U85985QU3

2,030,000.00

2,021,801.97

2,752.79

0.00

2,019,049.18

9,634.94

995.961558621

1.356055172

0.000000000

994.605503448

4.746275862

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

86359BRM5/U85985QV1

1,450,000.00

1,444,144.26

1,966.28

0.00

1,442,177.98

6,882.10

995.961544212

1.356050974

0.000011435

994.605481803

4.746281326

5.701017874%

0.00

0.000000000

5.71862751%

0.000000000

86359BRN3/U85985QW9

874,495.15

870,963.54

1,185.86

0.01

869,777.67

4,150.60

0.000000000

1395.100000000

N/A

0.00

139.51

1395.100000000

5.76989522%

0.000000000

86359BQU8

100.00

0.00

139.51

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSQ4737

R-1

0.00

Page 2 of 24

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

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.962211%

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

STRUCTURED ASSET SECURITIES CORPORATION

Mortgage Pass-Through Certificates

Series 2004-7

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

328

REMIC II

Statement Date:

ABN AMRO Acct: 721785.2

Total P&I Payment

0.00

139.51

580,163,102.15

562,218,501.56

8,705,340.10

Total

556,189,420.27

6,029,081.28

0.01

2,676,258.82

Page 3 of 24

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 0

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.962211%

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

STRUCTURED ASSET SECURITIES CORPORATION

Mortgage Pass-Through Certificates

Series 2004-7

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

328

Grantor Trust

Statement Date:

ABN AMRO Acct: 721785.2

0.000000000

0.00

2,992.14

0.000000000

N/A

0.000000000

9ABSQ4711

0.00

2,992.14

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSQ4729

0.00

Total P&I Payment

0.00

2,992.14

0.00

2,992.14

Total

0.00

2,992.14

Page 4 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2
Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Interest (2)

Payment

Amount

PPIS

Interest

Certificate

Accretion

Interest

Loss/Exp

Interest

Penalties

Proceeds (1)

Interest

Shortfalls

Certificate

Rate

Pass
Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

0.00

1-A1

2,150,256.24

0.00

0.00%

30/360

5.763406270%

0.00

2-A1

168,034.39

0.00

0.00%

30/360

5.477380404%

0.00

3-A1

234,020.75

0.00

0.00%

30/360

5.500000000%

0.00

0.00%

30/360

0.000000000%

0.00

5,149.55

0.00

30/360

5.500000000%

0.00

PAX

1,622.33

0.00

30/360

5.500000000%

0.00

67,458.84

0.00

0.00%

30/360

5.718627514%

0.00

17,898.21

0.00

0.00%

30/360

5.718627514%

0.00

11,011.36

0.00

0.00%

30/360

5.718627514%

0.00

9,634.94

0.00

0.00%

30/360

5.718627514%

0.00

6,882.10

0.00

0.00%

30/360

5.718627514%

0.00

4,150.60

0.00

0.00%

30/360

5.718627514%

0.00

139.51

0.00

30/360

N/A

0.00

2,992.14

0.00

2,992.14

0.00

30/360

0.000000000%

0.00

30/360

0.000000000%

0.00

2,992.14

0.00

2,676,119.31

2,679,111.45

2,679,250.96

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 5 of 24

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

(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).

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

860,418.84

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

2,712,361.89

Unscheduled Interest:
Prepayment Penalties

2,992.14

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

2,992.14

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Current Scheduled Principal
Advanced Scheduled Principal
Scheduled Principal
Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
Total Unscheduled Principal
Remittance Principal

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

2,679,250.97

0.00
0.00
0.00
0.00

0.00

231,088.29
538,436.68
769,524.97

186,306.04

5,073,250.28

0.00
0.00
0.00

5,259,556.32
6,029,081.29

8,708,332.26

562,218,501.55

2,844

769,524.97

5,259,556.32

0.00
0.00

0.00

556,189,420.26

2,815

578,796.54

1,999,876.38

538,436.68

1,851,943.05

547,284.27

1,880,273.91

36,103.06

0.00
0.00

81,025.80

117,128.85

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(36,103.06

2,679,250.97

Interest Not Advanced (

Current Period

)

0.00

1,851,943.05

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(1,971,545.52

)

(569,948.95

0.00

Page 6 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary Pool Group 1

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

727,948.10

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

2,279,176.88

Unscheduled Interest:
Prepayment Penalties

2,992.14

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

2,992.14

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

2,251,832.50

0.00
0.00
0.00
0.00

0.00

145,496.62
330,664.26
476,160.88

89,865.12

4,381,410.05

0.00
0.00
0.00

4,471,275.17
4,947,436.05

7,199,268.55

468,231,512.24

2,504

476,160.88

4,471,275.17

0.00
0.00

0.00

463,284,076.19

2,480

353,049.52

1,670,723.82

330,664.26

1,551,228.78

334,821.74

1,572,817.42

30,336.51

0.00
0.00

67,211.72

97,548.23

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(30,336.51

2,251,832.50

Interest Not Advanced (

Current Period

)

0.00

1,551,228.78

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(1,649,135.17

)

(348,892.04

0.00

Page 7 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary Pool Group 2

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

53,746.70

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

177,941.39

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

175,597.73

0.00
0.00
0.00
0.00

0.00

24,843.36
62,887.35
87,730.71

9,022.17

488,763.29

0.00
0.00
0.00

497,785.46
585,516.17

761,113.90

38,470,447.27

188

87,730.71

497,785.46

0.00
0.00

0.00

37,884,931.10

185

66,633.91

133,591.35

62,887.35

124,194.70

63,791.46

125,980.92

2,343.66

0.00
0.00

5,671.01

8,014.68

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(2,343.66

175,597.73

Interest Not Advanced (

Current Period

)

0.00

124,194.70

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(131,805.13

)

(65,729.80

0.00

Page 8 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary Pool Group 3

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

78,724.04

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

255,243.62

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

251,820.74

0.00
0.00
0.00
0.00

0.00

60,748.31

144,885.07
205,633.38

87,418.75

203,076.94

0.00
0.00
0.00

290,495.69
496,129.07

747,949.81

55,516,542.04

152

205,633.38
290,495.69

0.00
0.00

0.00

55,020,412.97

150

159,113.11

195,561.22

144,885.07

176,519.58

148,671.07

181,475.57

3,422.88

0.00
0.00

8,143.07

11,565.95

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(3,422.88

251,820.74

Interest Not Advanced (

Current Period

)

0.00

176,519.58

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(190,605.22

)

(155,327.11

0.00

Page 9 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary Pool Group 3 - AX Loans

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

47,105.53

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

110,604.42

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

108,635.50

0.00
0.00
0.00
0.00

0.00

34,666.32
47,397.95
82,064.27

5,459.86

146,741.18

0.00
0.00
0.00

152,201.04
234,265.31

342,900.81

22,578,754.02

82,064.27

152,201.04

0.00
0.00

0.00

22,344,488.71

59,852.07

79,553.15

47,397.95

63,498.89

51,183.95

68,454.88

1,968.92

0.00
0.00

2,734.99

4,703.91

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(1,968.92

108,635.50

Interest Not Advanced (

Current Period

)

0.00

63,498.89

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(74,597.15

)

(56,066.07

0.00

Page 10 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Statement Date:

Cash Reconciliation Summary Pool Group 3 - PAX Loans

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

3,117.38

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

31,748.57

Unscheduled Interest:
Prepayment Penalties

0.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

0.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

Special Servicing Fees

Interest Due Serv on Advances
Recoup of Prior Advances
Misc. Fees & Expenses

Total Unscheduled Fees & Expenses

Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding
Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding

Plus Current Period

Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts
PPIS Reducing Scheduled Interest
PPIS Reducing Servicing Fee

PPIS Due Certificate

0.00

0.00
0.00

0.00

31,621.53

0.00
0.00
0.00
0.00

0.00

2,160.07

21,222.10
23,382.17

277.62

0.00
0.00
0.00
0.00

277.62

23,659.79

55,281.32

6,545,281.48

23,382.17

277.62

0.00
0.00

0.00

6,521,621.69

21,394.74

29,101.08

21,222.10

28,631.20

21,222.10

28,631.20

127.04

0.00
0.00

1,236.56

1,363.60

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(127.04

31,621.53

Interest Not Advanced (

Current Period

)

0.00

28,631.20

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(29,101.08

)

(21,394.74

0.00

Page 11 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Interest Adjustments Summary

Statement Date

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

2,992.14

2,992.14

Total Excess Allocated to the Bonds

2,992.14

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

2,992.14

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Other Interest Loss

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Page 12 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Other Related Information

Statement Date:

Special Hazard Coverage

Beginning

Balance

Current

Reduction

Ending

Balance

Beginning

Balance

Current

Reduction

Beginning

Balance

Current

Reduction

Ending

Balance

Fraud Loss Coverage

Bankruptcy Loss Coverage

Ending

Balance

Number of Payoffs:

Aggregate Payoff Amounts:
Number of Curtailments:

Aggregate Curtailment Amounts:

Number of Loans in Foreclosure:
Book Value of Loans in Foreclosure:

Prior Realized Losses Allocated to the Certificates:
Current Realized Losses Allocated to the Certificates:
Cumulative Realized Losses Allocated to the Certificates since Cutoff:

Group I

Group II

Total

488,763.29

5,073,250.28

562

186,306.04

0.00

0.00
0.00
0.00

4,381,410.05

0.00

Beginning Principle Balance:

Ending Principle Balance:

562,218,501.55

556,189,420.26

0.00

Group III

5,801,632.00

11,603,263.00

100,000.00

483

0.00

468,231,512.24

463,284,076.19

38,470,447.27

37,884,931.10

203,076.94

0.00

0.00
0.00
0.00

55,516,542.04

55,020,412.97

89,865.12

9,022.17

87,418.75

Ending Loan Count:

2,480

185

150

2,815

Sched Prin:

476,160.88

87,730.71

205,633.38

769,524.97

WAMM:

354

234

173

WAMR:

5.7634

5.4774

5.4432

Serv. Fee:

97,548.23

8,014.68

11,565.95

117,128.85

Page 13 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

ABN AMRO Acct: 721785.2

0.67%

0.59%

0.14%

0.08%

0.14%

493,638

0.09%

0.00%

0.04%

0.00%

25-Aug-04

3,261,164

462,894

237,090

1.09%

1.04%

0.07%

0.09%

0.14%

691,304

0.12%

0.00%

0.04%

0.00%

26-Jul-04

5,849,924

488,556

238,023

1.57%

1.37%

0.14%

0.12%

0.03%

161,350

0.03%

0.00%

0.03%

0.04%

0.00%

25-Jun-04

7,796,673

653,114

238,951

0.03%

0.04%

0.00%

0.03%

0.04%

0.00%

25-May-04

237,521

239,874

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 14 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Pool Group 1

ABN AMRO Acct: 721785.2

0.60%

0.59%

0.12%

0.09%

0.12%

256,548

0.06%

0.00%

25-Aug-04

2,726,684

396,752

1.08%

1.10%

0.04%

0.01%

0.08%

225,408

0.05%

0.00%

26-Jul-04

5,171,173

31,401

1.47%

1.29%

0.08%

0.04%

161,350

0.03%

0.00%

25-Jun-04

6,098,243

185,754

0.00%

25-May-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 15 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Pool Group 2

ABN AMRO Acct: 721785.2

1.08%

0.66%

0.54%

0.17%

0.00%

25-Aug-04

250,900

66,142

1.60%

1.10%

0.00%

0.53%

227,874

0.59%

0.00%

26-Jul-04

422,241

2.12%

1.64%

0.53%

0.59%

0.00%

25-Jun-04

636,328

228,409

0.52%

0.61%

0.00%

25-May-04

237,521

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 16 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Pool Group 3

ABN AMRO Acct: 721785.2

1.33%

0.52%

0.00%

0.67%

237,090

0.43%

0.00%

0.67%

0.43%

0.00%

25-Aug-04

283,580

237,090

0.66%

0.46%

0.66%

0.82%

0.66%

238,023

0.43%

0.00%

0.66%

0.43%

0.00%

26-Jul-04

256,509

457,155

238,023

2.61%

1.90%

0.65%

0.43%

0.00%

0.65%

0.43%

0.00%

25-Jun-04

1,062,102

238,951

0.00%

0.65%

0.43%

0.00%

25-May-04

239,874

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 17 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Pool Group 3 - AX Loans

ABN AMRO Acct: 721785.2

2.94%

1.27%

0.00%

1.47%

237,090

1.06%

0.00%

1.47%

1.06%

0.00%

25-Aug-04

283,580

237,090

1.45%

1.14%

0.00%

1.45%

238,023

1.05%

0.00%

1.45%

1.05%

0.00%

26-Jul-04

256,509

238,023

2.90%

2.40%

1.45%

1.05%

0.00%

1.45%

1.05%

0.00%

25-Jun-04

544,649

238,951

0.00%

1.45%

1.05%

0.00%

25-May-04

239,874

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 18 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

Distribution

Date

Delinq 1 Month

Delinq 2 Months

Delinq 3+ Months

Foreclosure

REO

Modifications

Specially Serviced

Bankruptcy

# Balance

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

Pool Group 3 - PAX Loans

ABN AMRO Acct: 721785.2

0.00%

25-Aug-04

0.00%

26-Jul-04

0.00%

25-Jun-04

0.00%

25-May-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 19 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 721785.2

Series 2004-7

25-Aug-04

2,815

96.57%

556,189,420

95.87%

1.02%

0.90%

0.00%

328

5.96%

5.71%

2,992

5,073,250

26-Jul-04

2,844

97.56%

562,218,502

96.91%

0.70%

0.76%

0.00%

329

5.96%

5.71%

9,473

4,332,275

25-Jun-04

2,865

98.28%

567,793,395

97.87%

0.90%

0.88%

0.00%

330

5.97%

5.72%

2,945

5,033,874

25-May-04

2,891

99.18%

573,691,359

98.88%

0.82%

0.96%

0.00%

331

5.97%

5.72%

5,197

5,597,186

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 20 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Modified Loan Detail

Disclosure

Control #

Modification

Date

Cutoff

Maturity

Date

Modification

Description

Modified

Maturity

Date

Statement Date:

Not Avail.

Page 21 of 24

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

ABN AMRO Acct: 721785.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Not Avail.

Current Total
Cumulative

Page 22 of 24

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

STRUCTURED ASSET SECURITIES CORPORATION

Payment Date:
Prior Payment:
Next Payment:
Record Date:

25-Aug-04
25-Aug-04

26-Jul-04

27-Sep-04

30-Jul-04

Mortgage Pass-Through Certificates

Series 2004-7

Historical Collateral Level REO Report

Property

Type

Statement Date:

State

Actual

Balance

Scheduled

Balance

Recent

Appraisal

Value

Appraisal

Reduction

Amount

Date

Liquidated

Liquidation

Proceeds

Liquidation

Expenses

Realized

Loss

Disclosure

Control #

REO

Date

City

Appraisal

Date

ABN AMRO Acct: 721785.2

Page 23 of 24

Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-7 8-K