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) May 25, 2005

Structured Asset Securities Corporation (as Depositor under the Trust Agreement, dated as of February 1, 2005, providing the issuance of Mortgage Pass-Through Certificates, Series 2005-3)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-120575
(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 Mortgate Pass-Through Certificates Series 2005-3, which was made on May 25, 2005.

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 May 25, 2005.

(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: May 31, 2005

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Reporting Package Table of Contents

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Administrator:
Rita Lopez 312.904.0351
rita.lopez@abnamro.com

Analyst:
Brian Scheff 714.259.6278
brian.scheff@abnamro.com

Statement Date:

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

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Other Related Information

Asset-Backed Facts ~ 15 Month Loan Status Summary

Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Substitution Detail History

Modified Loan Detail
Realized Loss Detail
Historical REO Report

Page 2-4
Page 5-8
Page 9
Page 10

Page 11

Page 12
Page 13

Page 14
Page 15

Page 16

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

SASC0503

SASC0503_200505_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

28-Feb-05
25-Mar-05

26-Mar-35

Parties to The Transaction

Depositor: Structured Asset Securities Corporation

Underwriter: Lehman Brothers Inc.

Master Servicer: Aurora Loan Services LLC

Rating Agency: Standard & Poor's Rating Services/Fitch Ratings

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.alservices.com

www.etrustee.net

Page 1 of 16

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

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

5.987701%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

354

REMIC II

Statement Date:

ABN AMRO Acct: 722416.1

992.196445597

16.010946569

0.000000000

976.185499028

2.786418233

3.440000000%

0.00

0.000000000

3.37000000%

0.000000000

86359B5M9

1-A1

27,774,000.00

444,688.03

0.00

27,112,576.05

77,389.98

27,557,264.08

992.196445597

0.000000000

976.185499028

3.001394110

3.560000000%

0.00

0.000000000

3.63000000%

0.000000000

86359B5N7

1-A2

27,774,000.00

0.00

27,112,576.05

83,360.72

27,557,264.08

992.196445680

16.010946720

0.000000000

976.185498960

4.754274640

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5P2

1-A3

125,000,000.00

2,001,368.34

0.00

122,023,187.37

594,284.33

124,024,555.71

992.196445636

16.010946727

0.000000000

976.185498909

4.547567091

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359B5Q0

1-A4

55,000,000.00

880,602.07

0.00

53,690,202.44

250,116.19

54,570,804.51

992.196445509

16.010946743

0.000000000

976.185498766

4.134151794

Fixed

0.00

0.000000000

5.00000000%

0.000000000

86359B5R8

1-A5

27,959,000.00

447,650.06

0.00

27,293,170.36

115,586.75

27,740,820.42

1000.000000000

0.000000000

1000.000000000

4.791666433

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5S6

1-A6

14,294,000.00

0.00

14,294,000.00

68,492.08

14,294,000.00

1000.000000000

0.000000000

1000.000000000

4.791661074

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5T4

1-A7

596,000.00

0.00

596,000.00

2,855.83

596,000.00

1000.000000000

0.000000000

1000.000000000

4.791666667

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5U1

1-A8

29,010,000.00

0.00

29,010,000.00

139,006.25

29,010,000.00

1000.000000000

0.000000000

1000.000000000

4.791664943

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5V9

1-A9

1,934,000.00

0.00

1,934,000.00

9,267.08

1,934,000.00

995.671876286

12.318787473

0.000000000

983.353088813

0.000000000

N/A

0.00

0.000000000

0.00000000%

0.000000000

86359B5W7

4,011,216.21

49,413.32

0.00

3,944,441.85

0.00

3,993,855.17

991.161337272

0.000000000

965.185462434

4.542821502

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359B5X5

2,968,617.63

0.00

2,865,266.58

13,485.90

2,942,379.02

999.439323421

0.000000000

999.206494469

4.580763296

Fixed

0.00

0.000000000

5.50000000%

0.000000000

86359B5Y3

PAX

572,308.55

0.00

571,854.42

2,621.61

571,987.67

999.565073122

0.211183392

0.000000000

999.353889729

4.789583123

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B5Z0

5,949,000.00

1,256.33

0.00

5,945,156.29

28,493.23

5,946,412.62

999.565073958

0.211183326

0.000000000

999.353890632

4.789583147

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B6A4

2,231,000.00

471.15

0.00

2,229,558.53

10,685.56

2,230,029.68

999.565071489

0.211185870

0.000000000

999.353885618

4.789579479

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B6B2

1,189,000.00

251.10

0.00

1,188,231.77

5,694.81

1,188,482.87

Page 2 of 16

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:
Current Index:
Next Index:

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

5.987701%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

354

REMIC II

Statement Date:

ABN AMRO Acct: 722416.1

999.565089686

0.211188341

0.000000000

999.353901345

4.789573991

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B3W9/U85985TS5

446,000.00

94.19

0.00

445,711.84

2,136.15

445,806.03

999.565074024

0.211184388

0.000000000

999.353889637

4.789582773

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B3X7/U85985TT3

743,000.00

156.91

0.00

742,519.94

3,558.66

742,676.85

999.565074024

0.211184388

0.000000000

999.353889637

4.789582773

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B3Y5/U85985TU0

743,000.00

156.91

0.00

742,519.94

3,558.66

742,676.85

999.565066914

0.211184473

0.000000000

999.353882440

4.789576977

Fixed

0.00

0.000000000

5.75000000%

0.000000000

86359B3Z2/U85985TV8

598,528.85

126.40

0.00

598,142.13

2,866.70

598,268.53

0.000000000

14.500000000

Fixed

0.00

1.45

14.500000000

5.75000000%

0.000000000

86359B6C0

100.00

0.00

1.45

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSU0359

R-1

0.00

Total P&I Payment

0.00

1.45

297,477,845.06

295,615,653.32

5,239,696.75

Total

291,789,418.51

3,826,234.81

0.00

1,413,461.94

Page 3 of 16

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:
Current Index:
Next Index:

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

5.987701%

3.020000%
3.090000%

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-3

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

354

Grantor Trust

Statement Date:

ABN AMRO Acct: 722416.1

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSU0342

0.00

Total P&I Payment

0.00

Total

0.00

Page 4 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

434,803.34

0.00

)

(3,134.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

1,428,453.71

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

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

1,413,461.96

0.00
0.00
0.00
0.00

0.00

11,314.27
50,384.23
61,698.50

263,221.86

3,501,314.46

0.00
0.00
0.00

3,764,536.32
3,826,234.82

5,239,696.78

295,615,653.34

813

61,698.50

3,764,536.32

0.00
0.00

0.00

291,789,418.52

805

48,896.45

970,630.11

50,384.23

996,784.38

51,190.61

1,006,092.58

18,125.75

0.00

)

(3,134.00

43,460.84

58,452.59

3,134.00

0.00
0.00
0.00

3,134.00
3,134.00

0.00

)

(14,991.75

1,413,461.96

Interest Not Advanced (

Current Period

)

0.00

996,784.38

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(961,321.91

)

(48,090.07

0.00

Advance Summary (Advance Made by Servicer)

Page 5 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Statement Date:

Cash Reconciliation Summary Subpool I

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

178,077.66

0.00

)

(126.48

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

615,478.28

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

607,975.40

0.00
0.00
0.00
0.00

0.00

2,618.45
2,618.45

222,713.59

1,307,750.00

0.00
0.00
0.00

1,530,463.59
1,533,082.04

2,141,057.44

130,875,678.14

347

2,618.45

1,530,463.59

0.00
0.00

0.00

129,342,596.10

345

1,608.44

424,896.20

2,618.45

437,527.10

2,618.45

441,114.49

7,629.36

0.00

)

(126.48

19,636.41

27,139.29

126.48

0.00
0.00
0.00

126.48
126.48

0.00

)

(7,502.88

607,975.40

Interest Not Advanced (

Current Period

)

0.00

437,527.10

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(421,308.81

)

(1,608.44

0.00

Advance Summary (Advance Made by Servicer)

Page 6 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Statement Date:

Cash Reconciliation Summary Subpool II

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

207,583.68

0.00

)

(3,007.53

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

660,052.35

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

654,587.24

0.00
0.00
0.00
0.00

0.00

11,229.36
47,119.72
58,349.08

31,976.38

2,193,564.46

0.00
0.00
0.00

2,225,540.84
2,283,889.92

2,938,477.16

133,795,061.07

376

58,349.08

2,225,540.84

0.00
0.00

0.00

131,511,171.15

370

47,022.72

454,440.17

47,119.72

455,476.20

47,926.10

461,197.01

8,472.64

0.00

)

(3,007.53

19,401.33

24,866.44

3,007.53

0.00
0.00
0.00

3,007.53
3,007.53

0.00

)

(5,465.12

654,587.24

Interest Not Advanced (

Current Period

)

0.00

455,476.20

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(448,719.36

)

(46,216.34

0.00

Advance Summary (Advance Made by Servicer)

Page 7 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Statement Date:

Cash Reconciliation Summary Subpool III

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

49,141.99

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

152,923.08

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

150,899.32

0.00
0.00
0.00
0.00

0.00

84.91

646.06
730.97

8,531.89

0.00
0.00
0.00
0.00

8,531.89
9,262.86

160,162.18

30,944,914.13

730.97

8,531.89

0.00
0.00

0.00

30,935,651.27

265.29

91,293.74

646.06

103,781.08

646.06

103,781.08

2,023.75

0.00
0.00

4,423.10

6,446.86

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(2,023.75

150,899.32

Interest Not Advanced (

Current Period

)

0.00

103,781.08

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(91,293.74

)

(265.29

0.00

Advance Summary (Advance Made by Servicer)

Page 8 of 16

Structured Asset Securities Corporation

Class

Accrued

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Bond Interest Reconciliation

Deductions

Allocable

Deferred &

Prior

Prepay-

Other

Additions

Interest

Credit Support

Original

Current(4)

Accrual

Int. Short-

falls Due

ment

Interest

Int erest (2)

Payment

Amount

PPIS

Int erest

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)

2.00
1.00

0.00

1-A1

77,389.98

0.00

3.62%

3.69%

30/360

3.370000000%

0.00

1-A2

83,360.72

0.00

3.62%

3.69%

30/360

3.630000000%

0.00

1-A3

594,284.33

0.00

3.62%

3.69%

30/360

5.750000000%

0.00

1-A4

250,116.19

0.00

3.62%

3.69%

30/360

5.500000000%

0.00

1-A5

115,586.75

0.00

3.62%

3.69%

30/360

5.000000000%

0.00

1-A6

68,492.08

0.00

3.62%

3.69%

30/360

5.750000000%

0.00

1-A7

2,855.83

0.00

3.62%

3.69%

30/360

5.750000000%

0.00

1-A8

139,006.25

0.00

3.62%

3.69%

30/360

5.750000000%

0.00

1-A9

9,267.08

0.00

3.62%

3.69%

30/360

5.750000000%

0.00

3.62%

3.69%

N/A

0.000000000%

0.00

13,485.90

0.00

3.62%

3.69%

30/360

5.500000000%

0.00

PAX

2,621.61

0.00

3.62%

3.69%

30/360

5.500000000%

0.00

28,493.23

0.00

1.81%

1.84%

30/360

5.750000000%

0.00

10,685.56

0.00

1.13%

1.15%

30/360

5.750000000%

0.00

5,694.81

0.00

0.77%

0.78%

30/360

5.750000000%

0.00

2,136.15

0.00

0.63%

0.65%

30/360

5.750000000%

0.00

3,558.66

0.00

0.41%

0.42%

30/360

5.750000000%

0.00

3,558.66

0.00

0.18%

0.19%

30/360

5.750000000%

0.00

2,866.70

0.00

0.00%

30/360

5.750000000%

0.00

1.45

0.00

3.62%

3.69%

30/360

N/A

0.00

30/360

0.000000000%

0.00

1,413,460.49

1,413,461.94

0.00

(2) Accrued - Deductions + Additions Interest

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

Page 9 of 16

(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-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Statement Date:

Other Related Information

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:

Total

3,510,000.00

0.00

2,974,779.00

0.00

100,000.00

0.00

3,501,314.46

201

0.00

263,221.86

0.00

Page 10 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

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: 722416.1

0.75%

0.55%

0.12%

0.06%

0.00%

0.12%

0.05%

0.00%

25-May-05

1,594,072

174,500

144,868

1.23%

1.11%

0.12%

0.17%

0.00%

25-Apr-05

3,276,556

498,499

0.12%

0.14%

0.00%

25-Mar-05

414,370

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

Page 11 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

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: 722416.1

Series 2005-3

25-May-05

805

98.53%

291,789,419

98.09%

0.98%

1.18%

0.00%

354

355

5.99%

5.74%

3,501,314

25-Apr-05

813

99.51%

295,615,653

99.37%

0.25%

0.30%

0.00%

356

5.99%

5.74%

891,893

25-Mar-05

815

99.76%

296,699,078

99.74%

0.24%

0.19%

0.00%

357

5.99%

5.74%

573,000

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

Page 12 of 16

Structured Asset Securities Corporation

Substitution Detail History

ABN AMRO Acct: 722416.1

Series 2005-3

Mortgage Pass-Through Certificates

29-Apr-05

27-Jun-05

25-Apr-05

25-May-05

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Statement Date:

Property ID

Deleted Loan

Qualified Substitute

Scheduled Prin Bal

Page 13 of 16

Original Property

Per Section 7.01(a)(i) of the Property Management and Lease Servicing Agreement, aggregate Appraised Value of the Qualified Substitute Mortgaged Properties acquired by the
Issuer since the Closing Date in connection with the substitution or exchange pursuant to Section 7.01 is not to exceed 25% of the aggregate Initial Appraised Value of the
Mortgaged Properties.

(A)

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

Modified Loan Detail

Disclosure

Control #

Modification

Date

Cutoff

Maturity

Date

Modification

Description

Modified

Maturity

Date

Statement Date:

Page 14 of 16

Structured Asset Securities Corporation

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

25-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

ABN AMRO Acct: 722416.1

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:

Current Total

Cumulative

Page 15 of 16

* 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-May-05
25-May-05

25-Apr-05

27-Jun-05

29-Apr-05

Mortgage Pass-Through Certificates

Series 2005-3

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: 722416.1

Page 16 of 16

Structured Asset Securities Corp Trust 2005-3 8-K