SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

June 11, 2003

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

Structured Asset Securities Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware

333-102489

74-2440850

(State or Other Jurisdiction

Of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

745 Seventh Avenue, 7th Floor

New York, New York

10019

(Address of Principal Executive Offices)

(Zip Code)

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

None

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

Item 5. Other Events

The Registrant registered issuances of Encore Credit Corporation Mortgage Pass-Through Certificates Series 2003-1 on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-102489) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $274,954,000 aggregate principal amount of Class A1, Class A2, Class M1, Class M2, Class B1, and Class B2 Certificates of its Encore Credit Corporation Mortgage Pass-Through Certificates, Series 2003-1 on May 21, 2003. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated March 20, 2003, as supplemented by the Prospectus Supplement dated May 20, 2003 (the “Prospectus Supplement”), to file a copy of the Trust Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Certificates were issued pursuant to a Trust Agreement (the “Trust Agreement”), attached hereto as Exhibit 4.1, dated as of May 1, 2003, among Structured Asset Securities Corporation, as depositor, Aurora Loan Services Inc., as Master Servicer, The Murrayhill Company, as Credit Risk Manager, and Wells Fargo Bank Minnesota, National Association, as Trustee. The “Certificates” consist of the following classes: Class A1, Class A2, Class M1, Class M2, Class B1, Class B2, Class P, Class X and Class R. The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”) that consists primarily of a pool of certain conventional, first lien, fixed and adjustable rate, fully amortizing and balloon, residential mortgage loans (the “Mortgage Loans”) with an aggregate outstanding principal balance of $278,718,263 as of May 1, 2003, together with certain other assets. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.

Item 7. Financial Statements; Pro Forma Financial Information and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

1.1

Terms Agreement, dated May 20, 2003, between Structured Asset Securities Corporation, as Depositor, and Lehman Brothers Inc., as Underwriter.

4.1

Trust Agreement, dated as of May 1, 2003, among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services Inc., as Master Servicer, The Murrayhill Company, as Credit Risk Manager and Wells Fargo Bank Minnesota, National Association, as Trustee.

99.1

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

99.2

Assignment and Assumption Agreement, dated as of May 1, 2003, between Lehman Brothers Bank, FSB, as assignor and Lehman Brothers Holdings Inc., as assignee.

99.3

Securitization Subservicing Agreement, dated as of May 1, 2003, by and between Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc, as Master Servicer, and Option One Mortgage Corporation, as Servicer.

99.4

Securitization Servicing Agreement, dated as of May 1, 2003, by and between Lehman Brothers Holdings Inc., as Seller, Aurora Loan Services Inc., as Master Servicer, and Ocwen Federal Bank FSB, as Servicer.

99.5

Mortgage Guaranty Insurance Corporation (“MGIC”) Master Policy (No. 22-400-4 2491), including (i) the Master Policy Declaration Page (form #71-70035) and (ii) Terms and Conditions (form#71-7135) and (iii) Endorsements #71-7139 (8/94); #71-70178 (1/03); #71-70165 (2/01) and (iv) the MGIC Commitment Certificate (form #71-70239 2/03) covering certain first lien Mortgage Loans originated on or before December 1, 2002 with original loan-to-value ratios in excess of 60% and mortgage loans originated after December 1, 2002 with original loan-to-value ratios in excess of 80%.

SIGNATURES

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

STRUCTURED ASSET SECURITIES

CORPORATION

By:

/s/ Matthew Lewis

Name: Matthew Lewis

Title: Senior Vice President

Dated: June 11, 2003

EXHIBIT INDEX

Exhibit No.

Description

Page No.

1.1

ENCORE CREDIT CORP MORTGAGE PASS THROUGH CERTS SER 2003-1 8-K