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) ~~July~~August 25, 2005

Structured Asset Securities Corporation (as Depositor under the Trust Agreement dated as of January 1, 2005, providing for the issuance of Structured Asset Securities Corporation Trust Mortgage Pass-Through Certificates, Series 2005-NC1)
(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 Mortgage Pass-Through Certificates, Series 2005-NC1, which was made on ~~July~~August 25, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(Exhibit No. Description) 99.1 Monthly distribution report pursuant to section 4.03 of the Trust Agreement for the distribution on ~~July~~August 25, 2005.

(Exhibit No. Description)

2-	Watchlist Report
3-	Insurance Claims Settled
4-	Default Summary Dashboard
5-	Loan Prepayment Summary
6-	Loan Statistics Dashboard
7-	Pending Claims
8-	Red Flag Dashboard
9-	Bankruptcy Report
10-	Gains Losses Report
11-	Forecasted Losses Report
12-	Foreclosure Report
13-	REO Report

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: ~~July~~August 2831, 2005

Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Reporting Package Table of Contents Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Administrator: Megan Olson 312.904.6709megan.olson@abnamro.com Analyst: Dinsmore Sohn 714.259.6258 dinsmore.sohn@abnamro.com Statement Date: 135 S. LaSalle Street, Suite 1625Chicago, IL 60603USA Statements to CertificateholdersCash Reconciliation SummaryBond Interest ReconciliationBond Principal Reconciliation Shortfall Summary Report Swap Summary ReportAsset-Backed Facts ~ 15 Month Loan Status Summary Part I Asset-Backed Facts ~ 15 Month Loan Status Summary Part IIAsset-Backed Facts ~ 15 Month Loan Payoff/Loss SummaryRealized Loss Detail Page 2-3Page 4-7Page 8Page 9 Page 10 Page 11Page 12-15 Page 16-19Page 20-23 Page 24-27 Substitution Detail History Page 28 Page(s) Information is available for this issue from the following sources Issue Id: Monthly Data File Name: SASC5NC1 SASC5NC1_200507_3.ZIP Closing Date: First Payment Date: Rated Final Payment: Date: 31-Jan-0525-Feb-05 27-Feb-40 Parties to The Transaction Issuer: Lehman Brothers Inc. Depositor: Structured Asset Securities Corporation Underwriter: Lehman Brothers Inc. Master Servicer: Aurora Loan Services LLC Rating Agency: Moody's Investors Service, Inc./Fitch, Inc./Standard & Poor's Rating Services 800.246.5761 LaSalle Factor Line LaSalle Web Site www.etrustee.net Page 1 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.366418% 3.314380%3.460000% 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2005-NC1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 Distribution Statement Date: ABN AMRO Acct: 722341.1 808.942540468 98.138697542 0.000000000 710.803842926 2.457163144 Fixed 0.00 0.00 0.000000000 3.6450000000% 0.000000000 86359BX63 A1 26,688,000.00 2,619,125.56 0.00 18,969,932.96 65,576.77 21,589,058.52 1000.000000000 0.000000000 0.000000000 1000.000000000 3.266666542 Fixed 0.00 0.00 0.000000000 3.9200000000% 0.000000000 86359BX71 A2 26,813,000.00 0.00 0.00 26,813,000.00 87,589.13 26,813,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.458333501 Fixed 0.00 0.00 0.000000000 4.1500000000% 0.000000000 86359BX89 A3 9,931,000.00 0.00 0.00 9,931,000.00 34,344.71 9,931,000.00 878.340392872 49.526305670 0.000000000 828.814087203 2.469176837 3.7600000000% 0.00 0.00 0.000000000 3.6143800000% 0.000000000 86359BX97 A4 223,686,000.00 11,078,341.21 0.00 185,394,107.91 552,320.29 196,472,449.12 1000.000000000 0.000000000 0.000000000 1000.000000000 3.013406546 4.0200000000% 0.00 0.00 0.000000000 3.8743800000% 0.000000000 86359BY21 A5 39,474,000.00 0.00 0.00 39,474,000.00 118,951.21 39,474,000.00 719.733704076 99.829156434 0.000000000 619.904547642 1.922541448 3.5800000000% 0.00 0.00 0.000000000 3.4343800000% 0.000000000 86359BY39 A6 101,391,000.00 10,121,778.00 0.00 62,852,741.99 194,928.40 72,974,519.99 1000.000000000 0.000000000 0.000000000 1000.000000000 2.756739969 3.6900000000% 0.00 0.00 0.000000000 3.5443800000% 0.000000000 86359BY47 A7 117,459,000.00 0.00 0.00 117,459,000.00 323,803.92 117,459,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 2.850073402 3.8100000000% 0.00 0.00 0.000000000 3.6643800000% 0.000000000 86359BY54 A8 19,073,000.00 0.00 0.00 19,073,000.00 54,359.45 19,073,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.899999892 Fixed 0.00 0.00 0.000000000 4.6800000000% 0.000000000 86359BY62 A9 22,282,216.00 0.00 0.00 22,282,216.00 86,900.64 22,282,216.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.358333001 Fixed 0.00 0.00 0.000000000 5.2300000000% 0.000000000 86359BY70 A10 10,820,784.00 0.00 0.00 10,820,784.00 47,160.58 10,820,784.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.908333023 Fixed 0.00 0.00 0.000000000 4.6900000000% 0.000000000 86359BY88 A11 10,726,000.00 0.00 0.00 10,726,000.00 41,920.78 10,726,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 2.943406564 3.9300000000% 0.00 0.00 0.000000000 3.7843800000% 0.000000000 86359BY96 M1 22,122,000.00 0.00 0.00 22,122,000.00 65,114.04 22,122,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 2.958962242 3.9500000000% 0.00 0.00 0.000000000 3.8043800000% 0.000000000 86359BZ20 M2 12,845,000.00 0.00 0.00 12,845,000.00 38,007.87 12,845,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 2.982295235 3.9800000000% 0.00 0.00 0.000000000 3.8343800000% 0.000000000 86359BZ38 M3 12,844,000.00 0.00 0.00 12,844,000.00 38,304.60 12,844,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.161184427 4.2100000000% 0.00 0.00 0.000000000 4.0643800000% 0.000000000 86359BZ46 M4 16,413,000.00 0.00 0.00 16,413,000.00 51,884.52 16,413,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.200074074 4.2600000000% 0.00 0.00 0.000000000 4.1143800000% 0.000000000 86359BZ53 M5 4,995,000.00 0.00 0.00 4,995,000.00 15,984.37 4,995,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 3.588961603 4.7600000000% 0.00 0.00 0.000000000 4.6143800000% 0.000000000 86359BZ61 M6 7,136,000.00 0.00 0.00 7,136,000.00 25,610.83 7,136,000.00 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 2 of 28 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 Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 7.366418% 3.314380%3.460000% 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2005-NC1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate 351 Distribution Statement Date: ABN AMRO Acct: 722341.1 1000.000000000 0.000000000 0.000000000 1000.000000000 3.666740471 4.8600000000% 0.00 0.00 0.000000000 4.7143800000% 0.000000000 86359BZ79 M7 7,136,000.00 0.00 0.00 7,136,000.00 26,165.86 7,136,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.366740471 5.7600000000% 0.00 0.00 0.000000000 5.6143800000% 0.000000000 86359BZ87 M8 7,136,000.00 0.00 0.00 7,136,000.00 31,161.06 7,136,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.522295404 5.9600000000% 0.00 0.00 0.000000000 5.8143800000% 0.000000000 86359BZ95 M9 7,136,000.00 0.00 0.00 7,136,000.00 32,271.10 7,136,000.00 1000.000000000 0.000000000 0.000000000 1000.000000000 4.522295541 5.9600000000% 0.00 0.00 0.000000000 5.8143800000% 0.000000000 86359B3V1 B 3,925,000.00 0.00 0.00 3,925,000.00 17,750.01 3,925,000.00 914.897658460 0.000000000 0.000000000 881.518639772 2.851353408 0.00 0.00 0.000000000 2.7933392107% 0.000000000 N 9ABST7968 X 713,599,311.97 0.00 0.00 629,051,094.83 2,034,723.83 652,870,339.60 1000.000000000 0.000000000 0.000000000 1000.000000000 3689834.700000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABST7976 P 100.00 0.00 0.00 100.00 368,983.47 100.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABST7984 R 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 0.00 710,032,100.00 649,303,127.63 28,173,062.21 Total 625,483,882.86 23,819,244.77 0.00 4,353,817.44 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 3 of 28 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 Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Statement Date: Cash Reconciliation Summary Overcollateralization Deficiency Overcollateralization Amount Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int 3,611,926.20 0.000.00 Less Other Adjustment 0.00 TotalUnscheduled Interest:Prepayment Penalties 368,983.47 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 368,983.47 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer PMI Amounts Interest Due Serv on Advances Recoup of Prior AdvancesMisc. Fees & Expenses Total Unscheduled Fees & Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeCredit Risk Manager's FeesMisc. Fees Total Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases 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 PPISPlus Delinquent Servicing Fees Total Servicing Fees Overcollateralization Summary PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other AmountsPPIS Reducing Scheduled InterestPPIS Reducing Servicing Fee PPIS Due Certificate ) (149.11 0.00 ) (1,209.21 0.00 ) (261,502.97 0.00 ) (5,440.59 0.00 ) (5,440.59 445,298.26 40,636.23 485,934.49 26,617.88 23,306,692.40 0.000.000.00 23,333,310.2823,819,244.77 27,661,615.87 27,661,615.87 652,870,339.60 4,097 485,934.49 23,333,310.28 122 0.000.00 0 0.00 0 629,051,094.83 3,975 54,755.81 527,275.10 40,636.23 370,887.20 73,682.59 673,390.78 247,773.68 0.00 0.00 24,255.63 272,029.31 0.000.000.000.000.000.00 0.00 Advance Summary (Advance Made by Servicer) ) (247,773.68 3,836,930.51 Interest Not Advanced ( Current Period ) ) (694.17 371,581.37 Less Non Recovered ) (224,771.51 ) (21,709.45 0.00 0.00 3,567,311.97 0.00 Other Principal Information Principal Remittance AmountOvercollateralization Release Amount 23,819,244.77 0.00 23,819,244.77 Principal Distribution Amount ) (260,293.76 3,982,813.40 3,842,371.10 Page 4 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Statement Date: Cash Reconciliation Summary Pool 1 Overcollateralization Deficiency Overcollateralization Amount Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int 678,129.03 0.000.00 Less Other Adjustment 0.00 TotalUnscheduled Interest:Prepayment Penalties 41,924.78 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 41,924.78 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer PMI Amounts Interest Due Serv on Advances Recoup of Prior AdvancesMisc. Fees & Expenses Total Unscheduled Fees & Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeCredit Risk Manager's FeesMisc. Fees Total Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases 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 PPISPlus Delinquent Servicing Fees Total Servicing Fees Overcollateralization Summary PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other AmountsPPIS Reducing Scheduled InterestPPIS Reducing Servicing Fee PPIS Due Certificate ) (71.59 0.000.00 0.00 ) (59,056.71 0.00 ) (5,440.59 0.00 ) (5,440.59 122,663.24 6,630.02 129,293.26 4,864.37 2,484,967.93 0.000.000.00 2,489,832.302,619,125.56 3,273,624.40 3,273,624.40 120,720,738.51 830 129,293.26 2,489,832.30 13 0.000.00 0 0.00 0 118,101,612.95 817 8,876.54 60,957.62 6,630.02 41,033.69 11,395.01 72,607.84 47,460.35 0.00 0.00 2,839.96 50,300.31 0.000.000.000.000.000.00 0.00 Advance Summary (Advance Made by Servicer) ) (47,460.35 649,058.26 Interest Not Advanced ( Current Period ) 0.00 41,033.69 Less Non Recovered ) (29,383.46 ) (4,111.55 0.00 0.00 3,567,311.97 0.00 Other Principal Information Principal Remittance AmountOvercollateralization Release Amount 23,819,244.77 0.00 23,819,244.77 Principal Distribution Amount ) (59,056.71 719,162.72 654,498.84 Page 5 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Statement Date: Cash Reconciliation Summary Pool 2 Overcollateralization Deficiency Overcollateralization Amount Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int 1,562,131.75 0.000.00 Less Other Adjustment 0.00 TotalUnscheduled Interest:Prepayment Penalties 177,357.84 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 177,357.84 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer PMI Amounts Interest Due Serv on Advances Recoup of Prior AdvancesMisc. Fees & Expenses Total Unscheduled Fees & Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeCredit Risk Manager's FeesMisc. Fees Total Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases 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 PPISPlus Delinquent Servicing Fees Total Servicing Fees Overcollateralization Summary PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other AmountsPPIS Reducing Scheduled InterestPPIS Reducing Servicing Fee PPIS Due Certificate ) (65.44 0.000.00 0.00 ) (114,279.50 0.00 ) (5,440.59 0.00 ) (5,440.59 195,207.39 19,513.37 214,720.76 15,582.10 10,848,038.35 0.000.000.00 10,863,620.4511,078,341.21 12,772,506.83 12,772,506.83 281,478,113.12 1,944 214,720.76 10,863,620.45 58 0.000.00 0 0.00 0 270,399,771.91 1,886 27,546.92 250,389.02 19,513.37 174,585.16 35,494.03 323,223.53 105,564.19 0.00 0.00 11,718.36 117,282.55 0.000.000.000.000.000.00 0.00 Advance Summary (Advance Made by Servicer) ) (105,564.19 1,688,725.03 Interest Not Advanced ( Current Period ) ) (326.90 174,912.06 Less Non Recovered ) (101,750.65 ) (11,566.26 0.00 0.00 3,567,311.97 0.00 Other Principal Information Principal Remittance AmountOvercollateralization Release Amount 23,819,244.77 0.00 23,819,244.77 Principal Distribution Amount ) (114,279.50 1,736,716.91 1,694,165.62 Page 6 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Statement Date: Cash Reconciliation Summary Pool 3 Overcollateralization Deficiency Overcollateralization Amount Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int 1,371,665.42 0.000.00 Less Other Adjustment 0.00 TotalUnscheduled Interest:Prepayment Penalties 149,700.85 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 149,700.85 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer PMI Amounts Interest Due Serv on Advances Recoup of Prior AdvancesMisc. Fees & Expenses Total Unscheduled Fees & Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeCredit Risk Manager's FeesMisc. Fees Total Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases 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 PPISPlus Delinquent Servicing Fees Total Servicing Fees Overcollateralization Summary PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other AmountsPPIS Reducing Scheduled InterestPPIS Reducing Servicing Fee PPIS Due Certificate ) (12.07 0.00 ) (1,209.21 0.00 ) (88,166.76 0.00 ) (5,440.59 0.00 ) (5,440.59 127,427.63 14,492.84 141,920.47 6,171.41 9,973,686.12 0.000.000.00 9,979,857.53 10,121,778.00 11,615,484.64 11,615,484.64 250,671,487.97 1,323 141,920.47 9,979,857.53 51 0.000.00 0 0.00 0 240,549,709.97 1,272 18,332.35 215,928.46 14,492.84 155,268.35 26,793.55 277,559.40 94,749.14 0.00 0.00 9,697.31 104,446.45 0.000.000.000.000.000.00 0.00 Advance Summary (Advance Made by Servicer) ) (94,749.14 1,488,266.05 Interest Not Advanced ( Current Period ) ) (367.27 155,635.62 Less Non Recovered ) (93,637.40 ) (6,031.64 0.00 0.00 3,567,311.97 0.00 Other Principal Information Principal Remittance AmountOvercollateralization Release Amount 23,819,244.77 0.00 23,819,244.77 Principal Distribution Amount ) (86,957.55 1,526,933.77 1,493,706.64 Page 7 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Class Payment Date: Prior Payment: Next Payment: Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Bond Interest Reconciliation Additions Accrual Method Days Statement Date: Accrued Certificate Interest Prior Int Carry-Fwd Shortfall Prior Shortfall Reimbursement Other Interest Proceeds Other Interest Losses Current Int Carry-Fwd Shortfall Current Basis Risk Carry-Fwd Shortfall Remaining Int Carry-Fwd Shortfall Remaining Basis Risk Carry-Fwd Shortfall Net Cap Rate in Effect Y/N Distributable Certificate Interest Interest Payment Amount Deductions Outstanding Deposits from SWAP Agreement 0.00 30 65,576.77 65,576.77 30/360 0.00 65,576.77 0.00 0.00 0.00 0.00 No A1 0.00 0.00 0.00 0.00 30 87,589.13 87,589.13 30/360 0.00 87,589.13 0.00 0.00 0.00 0.00 No A2 0.00 0.00 0.00 0.00 30 34,344.71 34,344.71 30/360 0.00 34,344.71 0.00 0.00 0.00 0.00 No A3 0.00 0.00 0.00 0.00 28 552,320.29 552,320.29 Act/360 0.00 552,320.29 0.00 0.00 0.00 0.00 No A4 0.00 0.00 0.00 0.00 28 118,951.21 118,951.21 Act/360 0.00 118,951.21 0.00 0.00 0.00 0.00 No A5 0.00 0.00 0.00 0.00 28 194,928.40 194,928.40 Act/360 0.00 194,928.40 0.00 0.00 0.00 0.00 No A6 0.00 0.00 0.00 0.00 28 323,803.92 323,803.92 Act/360 0.00 323,803.92 0.00 0.00 0.00 0.00 No A7 0.00 0.00 0.00 0.00 28 54,359.45 54,359.45 Act/360 0.00 54,359.45 0.00 0.00 0.00 0.00 No A8 0.00 0.00 0.00 0.00 30 86,900.64 86,900.64 30/360 0.00 86,900.64 0.00 0.00 0.00 0.00 No A9 0.00 0.00 0.00 0.00 30 47,160.58 47,160.58 30/360 0.00 47,160.58 0.00 0.00 0.00 0.00 No A10 0.00 0.00 0.00 0.00 30 41,920.78 41,920.78 30/360 0.00 41,920.78 0.00 0.00 0.00 0.00 No A11 0.00 0.00 0.00 0.00 28 65,114.04 65,114.04 Act/360 0.00 65,114.04 0.00 0.00 0.00 0.00 No M1 0.00 0.00 0.00 0.00 28 38,007.87 38,007.87 Act/360 0.00 38,007.87 0.00 0.00 0.00 0.00 No M2 0.00 0.00 0.00 0.00 28 38,304.60 38,304.60 Act/360 0.00 38,304.60 0.00 0.00 0.00 0.00 No M3 0.00 0.00 0.00 0.00 28 51,884.52 51,884.52 Act/360 0.00 51,884.52 0.00 0.00 0.00 0.00 No M4 0.00 0.00 0.00 0.00 28 15,984.37 15,984.37 Act/360 0.00 15,984.37 0.00 0.00 0.00 0.00 No M5 0.00 0.00 0.00 0.00 28 25,610.83 25,610.83 Act/360 0.00 25,610.83 0.00 0.00 0.00 0.00 No M6 0.00 0.00 0.00 0.00 28 26,165.86 26,165.86 Act/360 0.00 26,165.86 0.00 0.00 0.00 0.00 No M7 0.00 0.00 0.00 0.00 28 31,161.06 31,161.06 Act/360 0.00 31,161.06 0.00 0.00 0.00 0.00 No M8 0.00 0.00 0.00 0.00 28 32,271.10 32,271.10 Act/360 0.00 32,271.10 0.00 0.00 0.00 0.00 No M9 0.00 0.00 0.00 0.00 28 17,750.01 17,750.01 Act/360 0.00 17,750.01 0.00 0.00 0.00 0.00 No B 0.00 0.00 0.00 0.00 30 2,034,723.83 2,034,723.83 30/360 0.00 1,519,740.27 0.00 0.00 0.00 0.00 No X 514,983.56 0.00 0.00 0.00 30 368,983.47 368,983.47 0.00 0.00 0.00 0.00 0.00 0.00 No P 0.00 0.00 0.00 0.00 514,983.56 0.00 3,469,850.41 4,353,817.44 4,353,817.44 0.00 0.00 0.00 0.00 0.00 0.00 (2) Interest Carry-Forward Shortfall is unpaid interest with interest thereon(3) Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap. 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 8 of 28 (1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest. Structured Asset Securities Corporation Payment Date: Prior Payment:Next Payment: Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Bond Principal Reconciliation Credit Support Original Current(4) Statement Date: Beginning Class Balance Unscheduled PrincipalPayment Extra Principal Payment Amt Prior Loss Reimburs. Rated Final Maturity Class Current Losses Original Class Balance Scheduled PrincipalPayment Ending Class Balance Cumulative Losses Interest on Losses Additions Losses 4.001.00 A1 NA NA 2/27/2040 18,969,932.96 0.00 0.00 21,589,058.52 26,688,000.00 2,619,125.56 0.00 0.00 0.00 0.00 A2 NA NA 2/27/2040 26,813,000.00 0.00 0.00 26,813,000.00 26,813,000.00 0.00 0.00 0.00 0.00 0.00 A3 NA NA 2/27/2040 9,931,000.00 0.00 0.00 9,931,000.00 9,931,000.00 0.00 0.00 0.00 0.00 0.00 A4 NA NA 2/27/2040 185,394,107.91 0.00 0.00 196,472,449.12 223,686,000.00 11,078,341.21 0.00 0.00 0.00 0.00 A5 NA NA 2/27/2040 39,474,000.00 0.00 0.00 39,474,000.00 39,474,000.00 0.00 0.00 0.00 0.00 0.00 A6 NA NA 2/27/2040 62,852,741.99 0.00 0.00 72,974,519.99 101,391,000.00 10,121,778.00 0.00 0.00 0.00 0.00 A7 NA NA 2/27/2040 117,459,000.00 0.00 0.00 117,459,000.00 117,459,000.00 0.00 0.00 0.00 0.00 0.00 A8 NA NA 2/27/2040 19,073,000.00 0.00 0.00 19,073,000.00 19,073,000.00 0.00 0.00 0.00 0.00 0.00 A9 NA NA 2/27/2040 22,282,216.00 0.00 0.00 22,282,216.00 22,282,216.00 0.00 0.00 0.00 0.00 0.00 A10 NA NA 2/27/2040 10,820,784.00 0.00 0.00 10,820,784.00 10,820,784.00 0.00 0.00 0.00 0.00 0.00 A11 NA NA 2/27/2040 10,726,000.00 0.00 0.00 10,726,000.00 10,726,000.00 0.00 0.00 0.00 0.00 0.00 M1 NA NA 2/27/2040 22,122,000.00 0.00 0.00 22,122,000.00 22,122,000.00 0.00 0.00 0.00 0.00 0.00 M2 NA NA 2/27/2040 12,845,000.00 0.00 0.00 12,845,000.00 12,845,000.00 0.00 0.00 0.00 0.00 0.00 M3 NA NA 2/27/2040 12,844,000.00 0.00 0.00 12,844,000.00 12,844,000.00 0.00 0.00 0.00 0.00 0.00 M4 NA NA 2/27/2040 16,413,000.00 0.00 0.00 16,413,000.00 16,413,000.00 0.00 0.00 0.00 0.00 0.00 M5 NA NA 2/27/2040 4,995,000.00 0.00 0.00 4,995,000.00 4,995,000.00 0.00 0.00 0.00 0.00 0.00 M6 NA NA 2/27/2040 7,136,000.00 0.00 0.00 7,136,000.00 7,136,000.00 0.00 0.00 0.00 0.00 0.00 M7 NA NA 2/27/2040 7,136,000.00 0.00 0.00 7,136,000.00 7,136,000.00 0.00 0.00 0.00 0.00 0.00 M8 NA NA 2/27/2040 7,136,000.00 0.00 0.00 7,136,000.00 7,136,000.00 0.00 0.00 0.00 0.00 0.00 M9 NA NA 2/27/2040 7,136,000.00 0.00 0.00 7,136,000.00 7,136,000.00 0.00 0.00 0.00 0.00 0.00 B NA NA 2/27/2040 3,925,000.00 0.00 0.00 3,925,000.00 3,925,000.00 0.00 0.00 0.00 0.00 0.00 X NA NA 2/27/2040 629,051,094.83 0.00 0.00 652,870,339.60 713,599,311.97 0.00 0.00 0.00 0.00 0.00 P NA NA 2/27/2040 100.00 0.00 0.00 100.00 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23,819,244.77 0.00 0.00 0.00 710,032,100.00 625,483,882.86 649,303,127.63 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 9 of 28 (1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Interest Adjustments Summary Statement Date 0.00 0.00 0.00 0.00 Special Servicing Fees Workout Fees Liquidation Fees Legal Fees 0.00 1,209.21 Misc. Fees & Expenses Paid by/to Servicer Interest Paid to Servicer on Outstanding Advances 0.00 0.00 ASER Interest Advance Reduction Interest Not Advanced (Current Period) Recoup of Prior Advances by Servicer 694.17 0.00 Servicing Fees Paid Servicer on Loans Not Advanced Misc. Fees & Expenses Paid by Trust 0.00 0.00 0.00 Shortfall Due to Rate Modification Total Shortfall Allocated to the Bonds Total Interest Adjustment to the Bonds 1,903.38 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 368,983.47 368,983.47 Total Excess Allocated to the Bonds 367,080.09 ) (1,903.38 Aggregate Interest Adjustment Allocated to the Bonds 0.00 368,983.47 0.00 0.00 Prepayment Interest Excess Due the Bonds 0.00 ARD Excess Interest 0.00 0.00 0.00 Net Prepayment Int. Shortfalls Allocated to the Bonds Other Interest Loss Interest Income 0.00 Page 10 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 SWAP Payments Statement Date: Net Swap payment payable to the Swap Counterparty......................................................................... Net Swap payment payable to the Supplemental Interest Trust................................................................ Swap Termination payment payable to the Supplemental Interest Trust.............................................. Swap Termination payment payable to the Swap Counterparty........................................................... 516,886.95 0.00 0.00 0.00 Page 11 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories 1.46% 1.43% 0.38% 0.33% 9 0.23% 969,806 0.15% 0.68% 0.61% 0.00% 0.00% 25-Jul-05 58 9,017,431 15 2,088,503 27 3,820,948 0 0 3,866 613,154,407 97.26% 97.47% 1.44% 1.17% 0.37% 0.18% 5 0.12% 982,200 0.15% 0.37% 0.35% 0.00% 0.00% 27-Jun-05 59 7,623,693 15 1,184,854 15 2,303,294 0 0 4,003 640,776,299 97.71% 98.15% 0.90% 0.81% 0.21% 0.16% 8 0.19% 1,164,073 0.17% 0.00% 0.00% 0.00% 0.00% 25-May-05 38 5,464,733 9 1,044,858 0 0 0 0 4,144 665,180,219 98.69% 98.86% 0.91% 0.77% 0.16% 0.20% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Apr-05 39 5,318,864 7 1,387,522 0 0 0 0 4,223 681,272,675 98.92% 99.03% 0.21% 0.26% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Mar-05 9 1,827,986 0 0 0 0 0 0 4,324 700,125,331 99.79% 99.74% 0.02% 0.01% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Feb-05 1 70,915 0 0 0 0 0 0 4,371 710,948,614 99.98% 99.99% Page 12 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Pool 1 0.37% 0.30% 0.24% 0.15% 0 0.00% 0 0.00% 0.49% 0.28% 0.00% 0.00% 25-Jul-05 3 359,284 2 180,117 4 332,583 0 0 808 117,229,629 98.90% 99.26% 0.60% 0.33% 0.36% 0.19% 0 0.00% 0 0.00% 0.36% 0.20% 0.00% 0.00% 27-Jun-05 5 393,120 3 225,676 3 239,715 0 0 819 119,862,227 98.67% 99.29% 0.48% 0.38% 0.00% 0.00% 3 0.36% 240,048 0.20% 0.00% 0.00% 0.00% 0.00% 25-May-05 4 458,726 0 0 0 0 0 0 830 121,625,597 99.16% 99.43% 0.83% 0.73% 0.12% 0.08% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Apr-05 7 905,249 1 103,724 0 0 0 0 838 123,147,022 99.05% 99.19% 0.12% 0.08% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Mar-05 1 103,793 0 0 0 0 0 0 853 125,028,657 99.88% 99.92% 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Feb-05 0 0 0 0 0 0 0 0 857 125,674,992 100.00% 100.00% Page 13 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Pool 2 1.75% 1.71% 0.21% 0.19% 6 0.32% 901,712 0.33% 0.90% 0.72% 0.00% 0.00% 25-Jul-05 33 4,615,141 4 501,020 17 1,938,854 0 0 1,826 262,443,044 96.82% 97.06% 1.49% 1.26% 0.31% 0.22% 4 0.21% 959,702 0.34% 0.41% 0.22% 0.00% 0.00% 27-Jun-05 29 3,544,110 6 629,119 8 610,939 0 0 1,897 275,734,242 97.58% 97.96% 0.90% 0.79% 0.30% 0.15% 3 0.15% 360,013 0.12% 0.00% 0.00% 0.00% 0.00% 25-May-05 18 2,302,437 6 438,770 0 0 0 0 1,975 286,955,536 98.65% 98.93% 0.69% 0.47% 0.25% 0.32% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Apr-05 14 1,394,308 5 958,409 0 0 0 0 2,014 293,857,308 99.07% 99.21% 0.24% 0.29% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Mar-05 5 870,571 0 0 0 0 0 0 2,066 302,765,051 99.76% 99.71% 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Feb-05 0 0 0 0 0 0 0 0 2,090 307,781,456 100.00% 100.00% Page 14 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I Distribution Date REO # Balance Statement Date: Foreclosure Delinq 3+ Months Delinq 2 Months Delinq 1 Month Current # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Pool 3 1.73% 1.68% 0.71% 0.59% 3 0.24% 68,093 0.03% 0.47% 0.64% 0.00% 0.00% 25-Jul-05 22 4,043,006 9 1,407,366 6 1,549,511 0 0 1,232 233,481,733 96.86% 97.06% 1.89% 1.47% 0.45% 0.13% 1 0.08% 22,498 0.01% 0.30% 0.58% 0.00% 0.00% 27-Jun-05 25 3,686,463 6 330,058 4 1,452,640 0 0 1,287 245,179,829 97.28% 97.81% 1.18% 1.04% 0.22% 0.23% 2 0.15% 564,012 0.22% 0.00% 0.00% 0.00% 0.00% 25-May-05 16 2,703,569 3 606,088 0 0 0 0 1,339 256,599,086 98.46% 98.51% 1.29% 1.13% 0.07% 0.12% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Apr-05 18 3,019,306 1 325,389 0 0 0 0 1,371 264,268,345 98.63% 98.75% 0.21% 0.31% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Mar-05 3 853,622 0 0 0 0 0 0 1,405 272,331,624 99.79% 99.69% 0.07% 0.03% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 25-Feb-05 1 70,915 0 0 0 0 0 0 1,424 277,492,166 99.93% 99.97% Page 15 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Jul-05 0 0 2 125,902 0 0 0 0 25 3,695,046 162,309 3 0.00% 0.00% 0.05% 0.02% 0.63% 0.59% 0.00% 0.00% 0.00% 0.00% 0.08% 0.03% 0.00% 0.00% 0.35% 0.22% 0 0 14 1,370,829 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 27-Jun-05 0 0 0 0 1 76,980 1 21,438 15 2,303,294 187,249 1 0.00% 0.00% 0.00% 0.00% 0.37% 0.35% 0.02% 0.01% 0.02% 0.00% 0.02% 0.03% 0.00% 0.00% 0.27% 0.17% 0 0 11 1,123,714 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 25-May-05 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% 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 25-Apr-05 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% 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 25-Mar-05 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% 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 25-Feb-05 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% 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 Page 16 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 1 Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Jul-05 0 0 0 0 0 0 0 0 4 332,583 0 0 0.00% 0.00% 0.00% 0.00% 0.49% 0.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.37% 0.40% 0 0 3 469,653 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 27-Jun-05 0 0 0 0 0 0 0 0 3 239,715 0 0 0.00% 0.00% 0.00% 0.00% 0.36% 0.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.24% 0.32% 0 0 2 380,546 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 25-May-05 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% 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 25-Apr-05 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% 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 25-Mar-05 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% 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 25-Feb-05 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% 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 Page 17 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 2 Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Jul-05 0 0 1 54,901 0 0 0 0 16 1,883,953 140,899 2 0.00% 0.00% 0.05% 0.02% 0.85% 0.70% 0.00% 0.00% 0.00% 0.00% 0.11% 0.05% 0.00% 0.00% 0.27% 0.13% 0 0 5 361,495 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 27-Jun-05 0 0 0 0 1 76,980 0 0 8 610,939 187,249 1 0.00% 0.00% 0.00% 0.00% 0.41% 0.22% 0.05% 0.03% 0.00% 0.00% 0.05% 0.07% 0.00% 0.00% 0.21% 0.11% 0 0 4 321,545 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 25-May-05 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% 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 25-Apr-05 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% 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 25-Mar-05 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% 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 25-Feb-05 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% 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 Page 18 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Distribution Date Statement Date: Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance Current 31 - 60 Days 61 - 90 Days 90 + Days # Balance # Balance # Balance # Balance In Foreclosure and Delinquent In Bankruptcy and Delinquent In REO and Delinquent Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 3 Current # # # 31 - 60 Days 61 - 90 Days 90 + Days # Balance Balance Balance Balance 25-Jul-05 0 0 1 71,001 0 0 0 0 5 1,478,510 21,410 1 0.00% 0.00% 0.08% 0.03% 0.39% 0.61% 0.00% 0.00% 0.00% 0.00% 0.08% 0.01% 0.00% 0.00% 0.47% 0.22% 0 0 6 539,681 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 27-Jun-05 0 0 0 0 0 0 1 21,438 4 1,452,640 0 0 0.00% 0.00% 0.00% 0.00% 0.30% 0.58% 0.00% 0.00% 0.08% 0.01% 0.00% 0.00% 0.00% 0.00% 0.38% 0.17% 0 0 5 421,623 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0 25-May-05 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% 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 25-Apr-05 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% 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 25-Mar-05 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% 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 25-Feb-05 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% 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 Page 19 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds 25-Jul-05 3,975 90.73% 629,051,095 88.15% 2.98% 3.57% 0 0.00% 0 0.00% 351 7.37% 6.39% 122 23,306,692 0.00 0.00 0.00 0.00 27-Jun-05 4,097 93.52% 652,870,340 91.49% 2.43% 2.89% 0 0.00% 0 0.00% 351 7.37% 6.39% 102 19,433,213 0.00 0.00 0.00 0.00 25-May-05 4,199 95.85% 672,853,882 94.29% 1.64% 2.12% 0 0.00% 0 0.00% 351 7.37% 6.39% 70 14,560,921 0.00 0.00 0.00 0.00 25-Apr-05 4,269 97.44% 687,979,061 96.41% 1.48% 1.91% 0 0.00% 0 0.00% 351 7.38% 6.40% 64 13,389,295 0.00 0.00 0.00 0.00 25-Mar-05 4,333 98.90% 701,953,318 98.37% 0.89% 1.19% 0 0.00% 0 0.00% 351 7.38% 6.40% 39 8,482,373 0.00 0.00 0.00 0.00 25-Feb-05 4,372 99.79% 711,019,529 99.64% 0.21% 0.28% 0 0.00% 0 0.00% 351 7.39% 6.40% 9 2,032,474 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 20 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Pool 1 25-Jul-05 817 18.65% 118,101,613 16.55% 1.57% 2.06% 0 0.00% 0 0.00% 340 7.18% 6.09% 13 2,484,968 0.00 0.00 0.00 0.00 27-Jun-05 830 18.95% 120,720,739 16.92% 0.84% 1.20% 0 0.00% 0 0.00% 340 7.18% 6.10% 7 1,464,214 0.00 0.00 0.00 0.00 25-May-05 837 19.11% 122,324,371 17.14% 1.06% 1.36% 0 0.00% 0 0.00% 340 7.18% 6.09% 9 1,688,110 0.00 0.00 0.00 0.00 25-Apr-05 846 19.31% 124,155,995 17.40% 0.94% 0.67% 0 0.00% 0 0.00% 340 7.18% 6.09% 8 837,981 0.00 0.00 0.00 0.00 25-Mar-05 854 19.49% 125,132,450 17.54% 0.35% 0.31% 0 0.00% 0 0.00% 340 7.18% 6.09% 3 385,352 0.00 0.00 0.00 0.00 25-Feb-05 857 19.56% 125,674,992 17.61% 0.00% 0.00% 0 0.00% 0 0.00% 340 7.18% 6.09% 0 0 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 21 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Pool 2 25-Jul-05 1,886 43.05% 270,399,772 37.89% 2.98% 3.85% 0 0.00% 0 0.00% 357 7.46% 6.47% 58 10,848,038 0.00 0.00 0.00 0.00 27-Jun-05 1,944 44.37% 281,478,113 39.44% 2.90% 2.88% 0 0.00% 0 0.00% 357 7.47% 6.48% 58 8,348,914 0.00 0.00 0.00 0.00 25-May-05 2,002 45.70% 290,056,756 40.65% 1.52% 1.99% 0 0.00% 0 0.00% 357 7.47% 6.47% 31 5,905,062 0.00 0.00 0.00 0.00 25-Apr-05 2,033 46.40% 296,210,026 41.51% 1.83% 2.37% 0 0.00% 0 0.00% 357 7.48% 6.49% 38 7,183,859 0.00 0.00 0.00 0.00 25-Mar-05 2,071 47.27% 303,635,622 42.55% 0.91% 1.27% 0 0.00% 0 0.00% 357 7.48% 6.49% 19 3,903,744 0.00 0.00 0.00 0.00 25-Feb-05 2,090 47.71% 307,781,456 43.13% 0.24% 0.22% 0 0.00% 0 0.00% 357 7.48% 6.49% 5 670,509 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 22 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount Life Coupon Remit Statement Date: Ending Arrearage (1) Balance Insurance Substitution Liquidation Proceeds Proceeds Proceeds Pool 3 25-Jul-05 1,272 29.03% 240,549,710 33.71% 3.85% 3.98% 0 0.00% 0 0.00% 350 7.36% 6.44% 51 9,973,686 0.00 0.00 0.00 0.00 27-Jun-05 1,323 30.20% 250,671,488 35.13% 2.72% 3.69% 0 0.00% 0 0.00% 350 7.36% 6.44% 37 9,620,084 0.00 0.00 0.00 0.00 25-May-05 1,360 31.04% 260,472,755 36.50% 2.16% 2.60% 0 0.00% 0 0.00% 350 7.36% 6.45% 30 6,967,749 0.00 0.00 0.00 0.00 25-Apr-05 1,390 31.73% 267,613,039 37.50% 1.28% 1.96% 0 0.00% 0 0.00% 350 7.37% 6.45% 18 5,367,455 0.00 0.00 0.00 0.00 25-Mar-05 1,408 32.14% 273,185,246 38.28% 1.19% 1.51% 0 0.00% 0 0.00% 350 7.37% 6.44% 17 4,193,277 0.00 0.00 0.00 0.00 25-Feb-05 1,425 32.53% 277,563,081 38.90% 0.28% 0.49% 0 0.00% 0 0.00% 350 7.37% 6.45% 4 1,361,965 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 23 of 28 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Structured Asset Securities Corporation Payment Date:Prior Payment:Next Payment:Record Date: 25-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value Beginning Scheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate LiquidationExpenses * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Current Total Cumulative 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 24 of 28 * 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-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value Beginning Scheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate LiquidationExpenses * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Pool 1 Current Total Cumulative 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 25 of 28 * 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-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value Beginning Scheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate LiquidationExpenses * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Pool 2 Current Total Cumulative 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 26 of 28 * 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-Jul-0525-Jul-05 27-Jun-05 25-Aug-05 22-Jul-05 Mortgage Pass-Through Certificates Series 2005-NC1 ABN AMRO Acct: 722341.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value Beginning Scheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate LiquidationExpenses * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Pool 3 Current Total Cumulative 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 27 of 28 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc.. Structured Asset Securities Corporation Substitution Detail History ABN AMRO Acct: 722341.1 Series 2005-NC1 Mortgage Pass-Through Certificates 22-Jul-05 25-Aug-05 27-Jun-05 25-Jul-05 25-Jul-05 Record Date: Next Payment: Prior Payment: Payment Date: Statement Date: Property ID Deleted Loan Qualified Substitute Scheduled Prin Bal 21-Jul-2005 - 18:34 (T775-T800, T874, T875) (c) 2005 LaSalle Bank N.A. Page 28 of 28 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

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Reporting Package Table of Contents

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Administrator:

Megan Olson 312.904.6709
megan.olson@abnamro.com

Analyst:

Dinsmore Sohn 714.259.6258
dinsmore.sohn@abnamro.com

Revised Date:

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

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Bond Principal Reconciliation

Shortfall Summary Report

Swap Summary Report
Asset-Backed Facts ~ 15 Month Loan Status Summary Part I

Asset-Backed Facts ~ 15 Month Loan Status Summary Part II
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Realized Loss Detail

Page 2-3
Page 4-7
Page 8
Page 9

Page 10

Page 11
Page 12-15

Page 16-19
Page 20-23

Page 24-27

Substitution Detail History

Page 28

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

SASC5NC1

SASC5NC1_200508_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

31-Jan-05
25-Feb-05

27-Feb-40

Parties to The Transaction

Issuer: Lehman Brothers Inc.

Depositor: Structured Asset Securities Corporation

Underwriter: Lehman Brothers Inc.

Master Servicer: Aurora Loan Services LLC

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

800.246.5761

LaSalle Factor Line

LaSalle Web Site

www.etrustee.net

Page 1 of 28

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:

7.363784%

3.460000%
3.641250%

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-NC1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

Distribution

Revised Date:

ABN AMRO Acct: 722341.1

710.803842926

117.732806879

0.000000000

593.071036046

2.159066622

Fixed

0.00

0.000000000

3.6450000000%

0.000000000

86359BX63

26,688,000.00

3,142,053.15

0.00

15,827,879.81

57,621.17

18,969,932.96

1000.000000000

0.000000000

1000.000000000

3.266666542

Fixed

0.00

0.000000000

3.9200000000%

0.000000000

86359BX71

26,813,000.00

0.00

26,813,000.00

87,589.13

26,813,000.00

1000.000000000

0.000000000

1000.000000000

3.458333501

Fixed

0.00

0.000000000

4.1500000000%

0.000000000

86359BX89

9,931,000.00

0.00

9,931,000.00

34,344.71

9,931,000.00

828.814087203

40.874035076

0.000000000

787.940052127

2.683515821

3.9412500000%

0.00

0.000000000

3.7600000000%

0.000000000

86359BX97

223,686,000.00

9,142,949.41

0.00

176,251,158.50

600,264.92

185,394,107.91

1000.000000000

0.000000000

1000.000000000

3.461666667

4.2012500000%

0.00

0.000000000

4.0200000000%

0.000000000

86359BY21

39,474,000.00

0.00

39,474,000.00

136,645.83

39,474,000.00

619.904547642

113.793166652

0.000000000

506.111380990

1.911028001

3.7612500000%

0.00

0.000000000

3.5800000000%

0.000000000

86359BY39

101,391,000.00

11,537,602.96

0.00

51,315,139.03

193,761.04

62,852,741.99

1000.000000000

0.000000000

1000.000000000

3.177499979

3.8712500000%

0.00

0.000000000

3.6900000000%

0.000000000

86359BY47

117,459,000.00

0.00

117,459,000.00

373,225.97

117,459,000.00

1000.000000000

0.000000000

1000.000000000

3.280833115

3.9912500000%

0.00

0.000000000

3.8100000000%

0.000000000

86359BY54

19,073,000.00

0.00

19,073,000.00

62,575.33

19,073,000.00

1000.000000000

0.000000000

1000.000000000

3.899999892

Fixed

0.00

0.000000000

4.6800000000%

0.000000000

86359BY62

22,282,216.00

0.00

22,282,216.00

86,900.64

22,282,216.00

1000.000000000

0.000000000

1000.000000000

4.358333001

Fixed

0.00

0.000000000

5.2300000000%

0.000000000

86359BY70

A10

10,820,784.00

0.00

10,820,784.00

47,160.58

10,820,784.00

1000.000000000

0.000000000

1000.000000000

3.908333023

Fixed

0.00

0.000000000

4.6900000000%

0.000000000

86359BY88

A11

10,726,000.00

0.00

10,726,000.00

41,920.78

10,726,000.00

1000.000000000

0.000000000

1000.000000000

3.384166893

4.1112500000%

0.00

0.000000000

3.9300000000%

0.000000000

86359BY96

22,122,000.00

0.00

22,122,000.00

74,864.54

22,122,000.00

1000.000000000

0.000000000

1000.000000000

3.401388867

4.1312500000%

0.00

0.000000000

3.9500000000%

0.000000000

86359BZ20

12,845,000.00

0.00

12,845,000.00

43,690.84

12,845,000.00

1000.000000000

0.000000000

1000.000000000

3.427222049

4.1612500000%

0.00

0.000000000

3.9800000000%

0.000000000

86359BZ38

12,844,000.00

0.00

12,844,000.00

44,019.24

12,844,000.00

1000.000000000

0.000000000

1000.000000000

3.625277524

4.3912500000%

0.00

0.000000000

4.2100000000%

0.000000000

86359BZ46

16,413,000.00

0.00

16,413,000.00

59,501.68

16,413,000.00

1000.000000000

0.000000000

1000.000000000

3.668334334

4.4412500000%

0.00

0.000000000

4.2600000000%

0.000000000

86359BZ53

4,995,000.00

0.00

4,995,000.00

18,323.33

4,995,000.00

1000.000000000

0.000000000

1000.000000000

4.098888733

4.9412500000%

0.00

0.000000000

4.7600000000%

0.000000000

86359BZ61

7,136,000.00

0.00

7,136,000.00

29,249.67

7,136,000.00

Page 2 of 28

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:

7.363784%

3.460000%
3.641250%

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Structured Asset Securities Corporation

Mortgage Pass-Through Certificates

Series 2005-NC1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

350

Distribution

Revised Date:

ABN AMRO Acct: 722341.1

1000.000000000

0.000000000

1000.000000000

4.185000000

5.0412500000%

0.00

0.000000000

4.8600000000%

0.000000000

86359BZ79

7,136,000.00

0.00

7,136,000.00

29,864.16

7,136,000.00

1000.000000000

0.000000000

1000.000000000

4.960000000

5.9412500000%

0.00

0.000000000

5.7600000000%

0.000000000

86359BZ87

7,136,000.00

0.00

7,136,000.00

35,394.56

7,136,000.00

1000.000000000

0.000000000

1000.000000000

5.132222534

6.1412500000%

0.00

0.000000000

5.9600000000%

0.000000000

86359BZ95

7,136,000.00

0.00

7,136,000.00

36,623.54

7,136,000.00

1000.000000000

0.000000000

1000.000000000

5.132221656

6.1412500000%

0.00

0.000000000

5.9600000000%

0.000000000

86359B3V1

3,925,000.00

0.00

3,925,000.00

20,143.97

3,925,000.00

881.518639772

0.000000000

848.134911508

2.550509158

0.00

0.000000000

2.3414203279%

0.000000000

9ABST7968

713,599,311.97

0.00

605,228,489.31

1,820,041.58

629,051,094.83

1000.000000000

0.000000000

1000.000000000

4377959.300000000

0.00

0.000000000

N/A

0.000000000

9ABST7976

100.00

0.00

100.00

437,795.93

100.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABST7984

0.00

Total P&I Payment

0.00

710,032,100.00

625,483,882.86

28,194,128.66

Total

601,661,277.34

23,822,605.52

0.00

4,371,523.14

Page 3 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Revised Date:

Cash Reconciliation Summary

Overcollateralization Deficiency

Overcollateralization Amount

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

3,431,188.96

0.00
0.00

Less Other Adjustment

0.00

Total
Unscheduled Interest:
Prepayment Penalties

437,795.93

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

437,795.93

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

PMI Amounts

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
Credit Risk Manager's Fees
Misc. Fees

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

Overcollateralization Summary

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

)

(148.92

0.00
0.00

0.00

)

(251,588.16

0.00

)

(5,242.09

0.00

)

(5,242.09

430,702.77

43,725.03

474,427.80

462,156.37

22,863,523.56

)

(1,259.50

0.00
0.00

23,324,420.43
23,798,848.23

27,581,942.65

629,051,094.83

3,975

474,427.80

23,325,679.93

103

0.00

22,497.79

0.00

605,228,489.31

3,870

73,682.59

673,390.78

43,725.03

401,276.13

88,022.82

806,706.61

235,429.54

0.00

26,675.09

262,104.62

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(235,429.54

3,777,852.32

Interest Not Advanced (

Current Period

)

(1,023.44

402,299.57

Less Non Recovered

)

(267,960.30

)

(29,384.80

0.00

3,567,311.97

23,757.29

Other Principal Information

Principal Remittance Amount
Overcollateralization Release Amount

23,798,848.23

0.00

23,798,848.23

Principal Distribution Amount

)

(251,588.16

3,832,465.10

3,783,094.42

Page 4 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Revised Date:

Cash Reconciliation Summary Pool 1

Overcollateralization Deficiency

Overcollateralization Amount

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

655,563.33

0.00
0.00

Less Other Adjustment

0.00

Total
Unscheduled Interest:
Prepayment Penalties

80,498.65

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

80,498.65

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

PMI Amounts

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
Credit Risk Manager's Fees
Misc. Fees

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

Overcollateralization Summary

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

)

(71.52

0.00
0.00

0.00

)

(57,807.68

0.00

)

(5,242.09

0.00

)

(5,242.09

120,179.09

7,163.95

127,343.04

9,336.81

3,005,373.30

0.00
0.00
0.00

3,014,710.11
3,142,053.15

3,821,545.63

118,101,612.95

817

127,343.04

3,014,710.11

0.00
0.00

0.00

114,959,559.80

803

11,395.01

72,607.84

7,163.95

47,254.91

12,818.34

85,076.07

45,945.21

0.00

3,263.79

49,209.01

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(45,945.21

674,250.39

Interest Not Advanced (

Current Period

)

0.00

47,254.91

Less Non Recovered

)

(34,786.68

)

(5,740.62

0.00

3,567,311.97

23,757.29

Other Principal Information

Principal Remittance Amount
Overcollateralization Release Amount

23,798,848.23

0.00

23,798,848.23

Principal Distribution Amount

)

(57,807.68

702,818.24

679,492.48

Page 5 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Revised Date:

Cash Reconciliation Summary Pool 2

Overcollateralization Deficiency

Overcollateralization Amount

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

1,468,453.61

0.00
0.00

Less Other Adjustment

0.00

Total
Unscheduled Interest:
Prepayment Penalties

147,166.00

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

147,166.00

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

PMI Amounts

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
Credit Risk Manager's Fees
Misc. Fees

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

Overcollateralization Summary

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

)

(65.41

0.00
0.00

0.00

)

(109,664.78

0.00

)

(5,242.09

0.00

)

(5,242.09

185,468.11

22,699.70

208,167.81

209,679.66

8,725,101.94

0.00
0.00
0.00

8,934,781.60
9,142,949.41

10,747,468.52

270,399,771.91

1,886

208,167.81

8,934,781.60

0.00
0.00

0.00

261,256,822.50

1,835

35,494.03

323,223.53

22,699.70

197,929.96

45,674.84

407,447.98

99,300.27

0.00

13,366.30

112,666.57

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(99,300.27

1,599,277.02

Interest Not Advanced (

Current Period

)

(326.90

198,256.86

Less Non Recovered

)

(113,705.51

)

(12,518.89

0.00

3,567,311.97

23,757.29

Other Principal Information

Principal Remittance Amount
Overcollateralization Release Amount

23,798,848.23

0.00

23,798,848.23

Principal Distribution Amount

)

(109,664.78

1,666,383.57

1,604,519.11

Page 6 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Revised Date:

Cash Reconciliation Summary Pool 3

Overcollateralization Deficiency

Overcollateralization Amount

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

1,307,172.03

0.00
0.00

Less Other Adjustment

0.00

Total
Unscheduled Interest:
Prepayment Penalties

210,131.28

Yield Maintenance Penalties

0.00

Other Interest Proceeds

0.00

Total

210,131.28

Less Fees & Expenses Paid By/To Servicer

Less Fee Paid To Servicer
Less Fee Strips Paid by Servicer

PMI Amounts

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
Credit Risk Manager's Fees
Misc. Fees

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

Overcollateralization Summary

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

)

(11.99

0.00
0.00

0.00

)

(84,115.70

0.00

)

(5,242.09

0.00

)

(5,242.09

125,055.57

13,861.38

138,916.95

243,139.90

11,133,048.32

)

(1,259.50

0.00
0.00

11,374,928.72
11,513,845.67

13,012,928.50

240,549,709.97

1,272

138,916.95

11,376,188.22

0.00

22,497.79

0.00

229,012,107.01

1,232

26,793.55

277,559.40

13,861.38

156,091.26

29,529.64

314,182.56

90,184.05

0.00

10,044.99

100,229.05

0.00
0.00
0.00
0.00
0.00
0.00

0.00

Advance Summary (Advance Made by Servicer)

)

(90,184.05

1,493,840.73

Interest Not Advanced (

Current Period

)

(696.54

156,787.80

Less Non Recovered

)

(119,468.11

)

(11,125.29

0.00

3,567,311.97

23,757.29

Other Principal Information

Principal Remittance Amount
Overcollateralization Release Amount

23,798,848.23

0.00

23,798,848.23

Principal Distribution Amount

)

(84,115.70

1,463,263.29

1,499,082.83

Page 7 of 28

Structured Asset Securities Corporation

Class

Payment Date:

Prior Payment:
Next Payment:

Record Date:

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Bond Interest Reconciliation

Additions

Accrual

Method Days

Revised Date:

Accrued

Certificate

Interest

Prior

Int Carry-Fwd

Shortfall

Prior

Shortfall

Reimbursement

Other

Interest

Proceeds

Other

Interest
Losses

Current

Int Carry-Fwd

Shortfall

Remaining

Int Carry-Fwd

Shortfall

Net Cap Rate

in Effect

Y/N

Distributable

Certificate

Interest

Payment

Amount

Deductions

Outstanding

Deposits from

SWAP Agreement

Remaining Basis Risk

Carry-Fwd Shortfall

Current Basis Risk

Carry-Fwd Shortfall

0.00

57,621.17

30/360

0.00

57,621.17

0.00

87,589.13

30/360

0.00

87,589.13

0.00

34,344.71

30/360

0.00

34,344.71

0.00

600,264.92

Act/360

0.00

600,264.92

0.00

136,645.83

Act/360

0.00

136,645.83

0.00

193,761.04

Act/360

0.00

193,761.04

0.00

373,225.97

Act/360

0.00

373,225.97

0.00

62,575.33

Act/360

0.00

62,575.33

0.00

86,900.64

30/360

0.00

86,900.64

0.00

47,160.58

30/360

0.00

47,160.58

0.00

A10

0.00

41,920.78

30/360

0.00

41,920.78

0.00

A11

0.00

74,864.54

Act/360

0.00

74,864.54

0.00

43,690.84

Act/360

0.00

43,690.84

0.00

44,019.24

Act/360

0.00

44,019.24

0.00

59,501.68

Act/360

0.00

59,501.68

0.00

18,323.33

Act/360

0.00

18,323.33

0.00

29,249.67

Act/360

0.00

29,249.67

0.00

29,864.16

Act/360

0.00

29,864.16

0.00

35,394.56

Act/360

0.00

35,394.56

0.00

36,623.54

Act/360

0.00

36,623.54

0.00

20,143.97

Act/360

0.00

20,143.97

0.00

1,820,041.57

1,820,041.58

30/360

0.00

1,227,394.18

0.00

592,647.39

0.00

437,795.93

0.00

592,647.39

0.00

3,341,079.81

4,371,523.13

4,371,523.14

0.00

(2) Interest Carry-Forward Shortfall is unpaid interest with interest thereon
(3) Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Page 8 of 28

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

Structured Asset Securities Corporation

Payment Date:

Prior Payment:
Next Payment:

Record Date:

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Bond Principal Reconciliation

Credit Support

Original

Current(4)

Revised Date:

Beginning

Class Balance

Unscheduled

Principal
Payment

Extra

Principal

Payment Amt

Prior

Loss

Reimburs.

Rated

Final

Maturity

Class

Current

Losses

Original

Class Balance

Scheduled

Principal
Payment

Ending

Class Balance

Cumulative

Losses

Interest on

Losses

Additions

Losses

4.00
1.00

2/27/2040

15,827,879.81

0.00

18,969,932.96

26,688,000.00

3,142,053.15

0.00

2/27/2040

26,813,000.00

0.00

26,813,000.00

0.00

2/27/2040

9,931,000.00

0.00

9,931,000.00

0.00

2/27/2040

176,251,158.50

0.00

185,394,107.91

223,686,000.00

9,142,949.41

0.00

2/27/2040

39,474,000.00

0.00

39,474,000.00

0.00

2/27/2040

51,315,139.03

0.00

62,852,741.99

101,391,000.00

11,513,845.67

0.00

23,757.29

0.00

2/27/2040

117,459,000.00

0.00

117,459,000.00

0.00

2/27/2040

19,073,000.00

0.00

19,073,000.00

0.00

2/27/2040

22,282,216.00

0.00

22,282,216.00

0.00

A10

2/27/2040

10,820,784.00

0.00

10,820,784.00

0.00

A11

2/27/2040

10,726,000.00

0.00

10,726,000.00

0.00

2/27/2040

22,122,000.00

0.00

22,122,000.00

0.00

2/27/2040

12,845,000.00

0.00

12,845,000.00

0.00

2/27/2040

12,844,000.00

0.00

12,844,000.00

0.00

2/27/2040

16,413,000.00

0.00

16,413,000.00

0.00

2/27/2040

4,995,000.00

0.00

4,995,000.00

0.00

2/27/2040

7,136,000.00

0.00

7,136,000.00

0.00

2/27/2040

7,136,000.00

0.00

7,136,000.00

0.00

2/27/2040

7,136,000.00

0.00

7,136,000.00

0.00

2/27/2040

7,136,000.00

0.00

7,136,000.00

0.00

2/27/2040

3,925,000.00

0.00

3,925,000.00

0.00

2/27/2040

605,228,489.31

0.00

629,051,094.83

713,599,311.97

0.00

2/27/2040

100.00

0.00

100.00

0.00

23,798,848.23

0.00

23,757.29

710,032,100.00

601,661,277.34

625,483,882.86

Page 9 of 28

(1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount.

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Interest Adjustments Summary

Revised 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

1,023.44

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

1,023.44

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

437,795.93

437,795.93

Total Excess Allocated to the Bonds

436,772.49

)

(1,023.44

Aggregate Interest Adjustment Allocated to the Bonds

0.00

437,795.93

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Interest Income

0.00

Page 10 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

SWAP Payments

Revised Date:

Net Swap payment payable to the Swap Counterparty.........................................................................

Net Swap payment payable to the Supplemental Interest Trust................................................................

Swap Termination payment payable to the Supplemental Interest Trust..............................................

Swap Termination payment payable to the Swap Counterparty...........................................................

617,428.12

0.00

Page 11 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

1.81%

1.67%

0.62%

0.59%

0.39%

1,732,825

0.29%

0.96%

0.87%

0.08%

0.04%

25-Aug-05

10,084,140

3,557,138

5,247,961

232,975

3,721

584,373,450

96.15%

96.55%

1.46%

1.43%

0.38%

0.33%

0.23%

969,806

0.15%

0.68%

0.61%

0.00%

25-Jul-05

9,017,431

2,088,503

3,820,948

3,866

613,154,407

97.26%

97.47%

1.44%

1.17%

0.37%

0.18%

0.12%

982,200

0.15%

0.37%

0.35%

0.00%

27-Jun-05

7,623,693

1,184,854

2,303,294

4,003

640,776,299

97.71%

98.15%

0.90%

0.81%

0.21%

0.16%

0.19%

1,164,073

0.17%

0.00%

25-May-05

5,464,733

1,044,858

4,144

665,180,219

98.69%

98.86%

0.91%

0.77%

0.16%

0.20%

0.00%

25-Apr-05

5,318,864

1,387,522

4,223

681,272,675

98.92%

99.03%

0.21%

0.26%

0.00%

25-Mar-05

1,827,986

4,324

700,125,331

99.79%

99.74%

0.02%

0.01%

0.00%

25-Feb-05

70,915

4,371

710,948,614

99.98%

99.99%

Page 12 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Pool 1

0.87%

0.64%

0.12%

0.14%

0.12%

48,796

0.04%

0.62%

0.39%

0.12%

0.06%

25-Aug-05

736,292

155,257

446,368

65,796

788

113,507,050

98.13%

98.74%

0.37%

0.30%

0.24%

0.15%

0.00%

0.49%

0.28%

0.00%

25-Jul-05

359,284

180,117

332,583

808

117,229,629

98.90%

99.26%

0.60%

0.33%

0.36%

0.19%

0.00%

0.36%

0.20%

0.00%

27-Jun-05

393,120

225,676

239,715

819

119,862,227

98.67%

99.29%

0.48%

0.38%

0.00%

0.36%

240,048

0.20%

0.00%

25-May-05

458,726

830

121,625,597

99.16%

99.43%

0.83%

0.73%

0.12%

0.08%

0.00%

25-Apr-05

905,249

103,724

838

123,147,022

99.05%

99.19%

0.12%

0.08%

0.00%

25-Mar-05

103,793

853

125,028,657

99.88%

99.92%

0.00%

25-Feb-05

857

125,674,992

100.00%

Page 13 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Pool 2

2.02%

2.12%

0.71%

0.44%

1,161,927

0.44%

1.20%

1.08%

0.11%

0.06%

25-Aug-05

5,547,643

1,867,324

2,816,353

167,179

1,753

249,696,398

95.53%

95.58%

1.75%

1.71%

0.21%

0.19%

0.32%

901,712

0.33%

0.90%

0.72%

0.00%

25-Jul-05

4,615,141

501,020

1,938,854

1,826

262,443,044

96.82%

97.06%

1.49%

1.26%

0.31%

0.22%

0.21%

959,702

0.34%

0.41%

0.22%

0.00%

27-Jun-05

3,544,110

629,119

610,939

1,897

275,734,242

97.58%

97.96%

0.90%

0.79%

0.30%

0.15%

360,013

0.12%

0.00%

25-May-05

2,302,437

438,770

1,975

286,955,536

98.65%

98.93%

0.69%

0.47%

0.25%

0.32%

0.00%

25-Apr-05

1,394,308

958,409

2,014

293,857,308

99.07%

99.21%

0.24%

0.29%

0.00%

25-Mar-05

870,571

2,066

302,765,051

99.76%

99.71%

0.00%

25-Feb-05

2,090

307,781,456

100.00%

Page 14 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Revised Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

Pool 3

2.11%

1.66%

0.81%

0.67%

0.49%

522,102

0.23%

0.81%

0.87%

0.00%

25-Aug-05

3,800,205

1,534,557

1,985,241

1,180

221,170,002

95.78%

96.58%

1.73%

1.68%

0.71%

0.59%

0.24%

68,093

0.03%

0.47%

0.64%

0.00%

25-Jul-05

4,043,006

1,407,366

1,549,511

1,232

233,481,733

96.86%

97.06%

1.89%

1.47%

0.45%

0.13%

0.08%

22,498

0.01%

0.30%

0.58%

0.00%

27-Jun-05

3,686,463

330,058

1,452,640

1,287

245,179,829

97.28%

97.81%

1.18%

1.04%

0.22%

0.23%

0.15%

564,012

0.22%

0.00%

25-May-05

2,703,569

606,088

1,339

256,599,086

98.46%

98.51%

1.29%

1.13%

0.07%

0.12%

0.00%

25-Apr-05

3,019,306

325,389

1,371

264,268,345

98.63%

98.75%

0.21%

0.31%

0.00%

25-Mar-05

853,622

1,405

272,331,624

99.79%

99.69%

0.07%

0.03%

0.00%

25-Feb-05

70,915

1,424

277,492,166

99.93%

99.97%

Page 15 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-Aug-05

739,475

21,184

693,630

4,426,513

622,634

0.00%

0.13%

0.12%

0.80%

0.73%

0.03%

0.00% 0.05%

0.11% 0.13%

0.10%

0.03%

0.01%

0.36%

0.24%

81,974

1,427,887

232,975

0.00%

0.08%

0.00%

0.04%

25-Jul-05

125,902

3,695,046

162,309

0.00%

0.05%

0.02%

0.63%

0.59%

0.00%

0.00% 0.00%

0.00% 0.08%

0.03%

0.00%

0.35%

0.22%

1,370,829

0.00%

27-Jun-05

76,980

21,438

2,303,294

187,249

0.00%

0.37%

0.35%

0.02%

0.01% 0.02%

0.00% 0.02%

0.03%

0.00%

0.27%

0.17%

1,123,714

0.00%

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 16 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 1

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-Aug-05

446,368

0.00%

0.62%

0.39%

0.00%

0.00% 0.00%

0.00%

0.50%

0.48%

548,707

65,796

0.00%

0.12%

0.00%

0.06%

25-Jul-05

332,583

0.00%

0.49%

0.28%

0.00%

0.00% 0.00%

0.00%

0.37%

0.40%

469,653

0.00%

27-Jun-05

239,715

0.00%

0.36%

0.20%

0.00%

0.00% 0.00%

0.00%

0.24%

0.32%

380,546

0.00%

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 17 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 2

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-Aug-05

612,568

184,479

2,121,811

523,516

0.00%

0.22%

0.23%

0.93%

0.81%

0.00%

0.00% 0.05%

0.07% 0.16%

0.20%

0.05%

0.03%

0.27%

0.14%

81,974

361,265

167,179

0.00%

0.11%

0.00%

0.06%

25-Jul-05

54,901

1,883,953

140,899

0.00%

0.05%

0.02%

0.85%

0.70%

0.00%

0.00% 0.00%

0.00% 0.11%

0.05%

0.00%

0.27%

0.13%

361,495

0.00%

27-Jun-05

76,980

610,939

187,249

0.00%

0.41%

0.22%

0.05%

0.03% 0.00%

0.00% 0.05%

0.07%

0.00%

0.21%

0.11%

321,545

0.00%

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 18 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

Distribution

Date

Revised Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II - Pool 3

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

25-Aug-05

126,907

21,184

509,151

1,858,333

99,118

0.00%

0.08%

0.06%

0.73%

0.81%

0.08%

0.01% 0.08%

0.22% 0.16%

0.04%

0.00%

0.41%

0.23%

517,915

0.00%

25-Jul-05

71,001

1,478,510

21,410

0.00%

0.08%

0.03%

0.39%

0.61%

0.00%

0.00% 0.00%

0.00% 0.08%

0.01%

0.00%

0.47%

0.22%

539,681

0.00%

27-Jun-05

21,438

1,452,640

0.00%

0.30%

0.58%

0.00%

0.00% 0.08%

0.01% 0.00%

0.00%

0.38%

0.17%

421,623

0.00%

25-May-05

0.00%

0.00% 0.00%

0.00%

25-Apr-05

0.00%

0.00% 0.00%

0.00%

25-Mar-05

0.00%

0.00% 0.00%

0.00%

25-Feb-05

0.00%

0.00% 0.00%

0.00%

Page 19 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

25-Aug-05

3,870

88.34%

605,228,489

84.81%

2.59%

3.63%

0.03%

23,757

0.00%

350

7.36%

6.38%

103

22,863,524

0.00

(1,259.50)

25-Jul-05

3,975

90.73%

629,051,095

88.15%

2.98%

3.57%

0.00%

351

7.37%

6.39%

122

23,306,692

0.00

27-Jun-05

4,097

93.52%

652,870,340

91.49%

2.43%

2.89%

0.00%

351

7.37%

6.39%

102

19,433,213

0.00

25-May-05

4,199

95.85%

672,853,882

94.29%

1.64%

2.12%

0.00%

351

7.37%

6.39%

14,560,921

0.00

25-Apr-05

4,269

97.44%

687,979,061

96.41%

1.48%

1.91%

0.00%

351

7.38%

6.40%

13,389,295

0.00

25-Mar-05

4,333

98.90%

701,953,318

98.37%

0.89%

1.19%

0.00%

351

7.38%

6.40%

8,482,373

0.00

25-Feb-05

4,372

99.79%

711,019,529

99.64%

0.21%

0.28%

0.00%

351

7.39%

6.40%

2,032,474

0.00

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

Page 20 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Pool 1

25-Aug-05

803

18.33%

114,959,560

16.11%

1.71%

2.54%

0.00%

339

7.17%

6.09%

3,005,373

0.00

25-Jul-05

817

18.65%

118,101,613

16.55%

1.57%

2.06%

0.00%

340

7.18%

6.09%

2,484,968

0.00

27-Jun-05

830

18.95%

120,720,739

16.92%

0.84%

1.20%

0.00%

340

7.18%

6.10%

1,464,214

0.00

25-May-05

837

19.11%

122,324,371

17.14%

1.06%

1.36%

0.00%

340

7.18%

6.09%

1,688,110

0.00

25-Apr-05

846

19.31%

124,155,995

17.40%

0.94%

0.67%

0.00%

340

7.18%

6.09%

837,981

0.00

25-Mar-05

854

19.49%

125,132,450

17.54%

0.35%

0.31%

0.00%

340

7.18%

6.09%

385,352

0.00

25-Feb-05

857

19.56%

125,674,992

17.61%

0.00%

340

7.18%

6.09%

0.00

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

Page 21 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Pool 2

25-Aug-05

1,835

41.89%

261,256,823

36.61%

2.65%

3.23%

0.00%

356

7.46%

6.47%

8,725,102

0.00

25-Jul-05

1,886

43.05%

270,399,772

37.89%

2.98%

3.85%

0.00%

357

7.46%

6.47%

10,848,038

0.00

27-Jun-05

1,944

44.37%

281,478,113

39.44%

2.90%

2.88%

0.00%

357

7.47%

6.48%

8,348,914

0.00

25-May-05

2,002

45.70%

290,056,756

40.65%

1.52%

1.99%

0.00%

357

7.47%

6.47%

5,905,062

0.00

25-Apr-05

2,033

46.40%

296,210,026

41.51%

1.83%

2.37%

0.00%

357

7.48%

6.49%

7,183,859

0.00

25-Mar-05

2,071

47.27%

303,635,622

42.55%

0.91%

1.27%

0.00%

357

7.48%

6.49%

3,903,744

0.00

25-Feb-05

2,090

47.71%

307,781,456

43.13%

0.24%

0.22%

0.00%

357

7.48%

6.49%

670,509

0.00

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

Page 22 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Distribution

Date

Ending Pool (1)

Payoffs(2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

Life

Coupon Remit

Revised Date:

Ending Arrearage (1)

Balance

Insurance

Substitution

Liquidation

Proceeds

Pool 3

25-Aug-05

1,232

28.12%

229,012,107

32.09%

3.07%

4.63%

0.08%

23,757

0.01%

349

7.35%

6.43%

11,133,048

0.00

(1,259.50)

25-Jul-05

1,272

29.03%

240,549,710

33.71%

3.85%

3.98%

0.00%

350

7.36%

6.44%

9,973,686

0.00

27-Jun-05

1,323

30.20%

250,671,488

35.13%

2.72%

3.69%

0.00%

350

7.36%

6.44%

9,620,084

0.00

25-May-05

1,360

31.04%

260,472,755

36.50%

2.16%

2.60%

0.00%

350

7.36%

6.45%

6,967,749

0.00

25-Apr-05

1,390

31.73%

267,613,039

37.50%

1.28%

1.96%

0.00%

350

7.37%

6.45%

5,367,455

0.00

25-Mar-05

1,408

32.14%

273,185,246

38.28%

1.19%

1.51%

0.00%

350

7.37%

6.44%

4,193,277

0.00

25-Feb-05

1,425

32.53%

277,563,081

38.90%

0.28%

0.49%

0.00%

350

7.37%

6.45%

1,361,965

0.00

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

Page 23 of 28

Structured Asset Securities Corporation

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

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Revised Date:

200508

22,497.79

0.00

23,757.29

)

(1,259.50

23,757.29

0.00%

-5.60%

Not Avail.

114161094

22,497.79

0.00

23,757.29

)

(1,259.50

23,757.29

22,497.79

23,757.29

)

(1,259.50

23,757.29

0.00

Current Total

Cumulative

Page 24 of 28

* 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:

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Revised Date:

Pool 1

Current Total

Cumulative

Page 25 of 28

* 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:

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Revised Date:

Pool 2

Current Total

Cumulative

Page 26 of 28

* 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:

29-Aug-05
25-Aug-05

25-Jul-05

26-Sep-05

24-Aug-05

Mortgage Pass-Through Certificates

Series 2005-NC1

ABN AMRO Acct: 722341.1

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

Revised Date:

Pool 3

200508

22,497.79

0.00

23,757.29

)

(1,259.50

23,757.29

0.00%

-5.60%

Not Avail.

114161094

22,497.79

0.00

23,757.29

)

(1,259.50

23,757.29

22,497.79

23,757.29

)

(1,259.50

23,757.29

0.00

Current Total

Cumulative

Page 27 of 28

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

Structured Asset Securities Corporation

Substitution Detail History

ABN AMRO Acct: 722341.1

Series 2005-NC1

Mortgage Pass-Through Certificates

24-Aug-05

26-Sep-05

25-Jul-05

25-Aug-05

29-Aug-05

Record Date:

Next Payment:

Prior Payment:

Payment Date:

Revised Date:

Property ID

Deleted Loan

Qualified Substitute

Scheduled Prin Bal

Page 28 of 28

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)

Filing Compare · SASCO Mortgage Pass Through Certificates, Series 2005-NC1