8-K 1 usbb36003252004.txt . 8-K 1 none CT.INFORMATION.DELIVERY@USBANK.COM 03/25/04 1 8-K Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report: 03/25/04 (Date of earliest event reported) Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 (Exact name of registrant as specified in governing instruments) New York (State or other Jurisdiction of Incorporation) c/o US Bank NA Corporate Trust Department 1 Federal Street, 3rd Floor Boston, MA 02110 (Address of Principal Executive Offices) (Zip Code) (704) 374-6828 (Registrant's telephone number, including area code) Commission File Number 333-106925 74-2440850 (I.R.S. Employer Identification No.) Not Applicable (Former name, former address and former fiscal year if changed since last report) Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 FORM 8-K INDEX ITEM DESCRIPTION PAGE NUMBER Item 5. Other Event 3 Item 7. Financial Statements and Exhibits 3 Signatures 3 Exhibit A Trustee's Report to Bondholders 4 Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 FORM 8-K ITEMS AND SIGNATURES ITEMS Item 5. Other Events See Exhibit A, the Trustee's Report to Bondholders attached hereto. Item 7. Financial Statements and Exhibits See Exhibit A, the Trustee's Report to Bondholders attached hereto. SIGNATURES Pursuant to the requirement of the Securities Exchange Act of 1934, the registrar has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 (Registrant) Date: 03/25/04 By: Name: Diana Kenneally Title: Assistant Vice President US Bank as Trustee Structured Asset Securities Corporation Mortgage Pass-Through Certificates Series 2004-3 Report to Certificateholders for Payment Date: March 25, 2004 Payment Summary Int Int Int Beg Class Prin Class CUSIP Rate Type Class Princ Dist 1-A1 86359BMD0 0.056182 Variable 71,035,000 71,035,000.00 256,502.27 2-A1 86359BME8 0.045000 Fixed 31,392,000 31,392,000.00 126,784.40 3-A1 86359BMF5 0.055000 Fixed 106,455,000 106,455,000.00 651,436.88 3-PAX1 86359BMG3 0.050000 Fixed 2,642,184 2,642,184.00 N/A 4-A1 86359BMH1 0.060835 Variable 329,541,000 329,541,000.00 2,393,876.26 AP 86359BMJ7 0.000000 Fixed 2,883,808 2,883,808.00 11,111.60 AX1 86359BMP3 0.050000 Fixed 4,858,411 4,858,411.01 N/A B1 86359BMK4 0.058121 Variable 13,318,000 13,318,000.00 24,365.71 B2 86359BML2 0.058121 Variable 4,533,000 4,533,000.00 8,293.27 B3 86359BMM0 0.058121 Variable 2,548,000 2,548,000.00 4,661.65 B4 86359BKN0 0.058121 Variable 2,265,000 2,265,000.00 4,143.89 B5 86359BKP5 0.058121 Variable 1,699,000 1,699,000.00 3,108.38 B6 86359BKQ3 0.058121 Variable 1,145,723 1,145,723.00 2,096.14 R 86359BMN8 0.056182 Variable 100 100.00 100.00 P N/A N/A N/A N/A N/A N/A E N/A N/A N/A N/A N/A N/A 566,815,631 566,815,631.00 3,486,480.45 Component Classes: AX(2) N/A 0.055000 Fixed 2,215,313 2,215,313 N/A AX(3) N/A 0.050000 Fixed 2,643,098 2,643,098 N/A AP(2) N/A 0.000000 Fixed 314,776 314,776 1,358.17 AP(3) N/A 0.000000 Fixed 2,569,032 2,569,032 9,753.43

Interest Total Realized Ending Dist Dist Loss Balance 332,573.10 589,075.37 0.00 70,778,497.73 117,720.00 244,504.40 0.00 31,265,215.60 487,918.75 1,139,355.63 0.00 105,803,563.12 11,009.10 11,009.10 N/A 2,632,961.35 1,670,641.75 4,064,518.01 0.00 327,147,123.74 N/A 11,111.60 0.00 2,872,696.40 20,243.38 20,243.38 N/A 4,826,879.87 64,504.86 88,870.57 0.00 13,293,634.29 21,955.29 30,248.56 0.00 4,524,706.73 12,341.07 17,002.72 0.00 2,543,338.35 10,970.38 15,114.27 0.00 2,260,856.11 8,229.00 11,337.38 0.00 1,695,891.62 0.47 100.47 0.00 0.00 5,340.25 5,340.25 N/A N/A 0.00 0.00 N/A N/A 2,768,996.63 6,255,477.08 0.00 563,329,150.55 Component Classes: 9,230.47 9,230.47 N/A 2,206,723.62 11,012.91 11,012.91 N/A 2,620,156.25 N/A 1,358.17 N/A 313,417.83 N/A 9,753.43 N/A 2,559,278.57 Distributions Per Certificate Beginning Principal Interest Ending Class Certificate Fac Distribution Distribution Certific Fac 1-A1 1000.00000000 3.61092800 4.68182023 0.00000000 996.38907200 2-A1 1000.00000000 4.03874872 3.75000000 0.00000000 995.96125128 3-A1 1000.00000000 6.11936387 4.58333333 0.00000000 993.88063613 3-PAX1 1000.00000151 N/A 4.16666667 N/A 996.50945922 4-A1 1000.00000000 7.26427444 5.06960211 0.00000000 992.73572556 AP 1000.00000000 3.85309979 N/A 0.00000000 996.14690021 AX1 1000.00000103 N/A 4.16666684 N/A 993.50999102 B1 1000.00000000 1.82953247 4.84343445 0.00000000 998.17046753 B2 1000.00000000 1.82953247 4.84343481 0.00000000 998.17046753 B3 1000.00000000 1.82953247 4.84343407 0.00000000 998.17046753 B4 1000.00000000 1.82953247 4.84343488 0.00000000 998.17046753 B5 1000.00000000 1.82953247 4.84343732 0.00000000 998.17046753 B6 1000.00000000 1.82953247 4.84343074 0.00000000 998.17046753 R 1000.00000000 4.70000000 0.00000000 0.00000000 P N/A N/A N/A N/A N/A E N/A N/A N/A N/A N/A 1 Based on a Notional Balance Component Classes AX(2) ,000.000000 N/A 4.16666629 N/A 996.12272532 AX(3) ,000.000002 N/A 4.16666730 N/A 991.32012737 AP(2) ,000.000000 4.314719038 N/A N/A 995.68528096 AP(3) ,000.000000 3.79653893 N/A N/A 996.20346107 Principal Detail Beginning Scheduled Princ Real Total Prin Loss Ending Cum Class Balance Principal Pre pay Losses Payable Rec Balance Realized Loss 1-A1 71,035,000.00 160623.54 95878.73 0.00 256502.27 0.00 70778497.73 0.00 2-A1 31,392,000.00 123867.52 2916.88 0.00 126784.40 0.00 31265215.60 0.00 3-A1 106,455,000.00 383740.77 267696.11 0.00 651436.88 0.00 105803563.12 0.00 3-PAX1 2,642,184.00 N/A N/A N/A N/A N/A 2632961.35 N/A 4-A1 329,541,000.00 311526.71 2082349.55 0.00 2393876.26 0.00 327147123.74 0.00 AP 2,883,808.00 10985.83 125.77 0.00 11111.60 0.00 2872696.40 0.00 AX1 4,858,411.01 N/A N/A N/A N/A N/A 4826879.87 N/A B1 13,318,000.00 24365.71 0.00 0.00 24365.71 0.00 13293634.29 0.00 B2 4,533,000.00 8293.27 0.00 0.00 8293.27 0.00 4524706.73 0.00 B3 2,548,000.00 4661.65 0.00 0.00 4661.65 0.00 2543338.35 0.00 B4 2,265,000.00 4143.89 0.00 0.00 4143.89 0.00 2260856.11 0.00 B5 1,699,000.00 3108.38 0.00 0.00 3108.38 0.00 1695891.62 0.00 B6 1,145,723.00 2096.14 0.00 0.00 2096.14 0.00 1143626.86 0.00 R 100.00 100.00 0.00 0.00 100.00 0.00 0.00 0.00 566,815,631.00 1037513.41 2448967.04 0.00 3486480.45 0.00 563329150.55 0.00 Component Classes AX(2) 2,215,313.00 N/A N/A N/A N/A N/A 2,206,723.62 N/A AX(3) 2,643,098.00 N/A N/A N/A N/A N/A 2,620,156.25 N/A AP(2) 314,776.00 1,312.06 46.11 0.00 1,358.17 0.00 313,417.83 N/A AP(3) 2,569,032.00 9,673.77 79.66 0.00 9,753.43 0.00 2,559,278.57 N/A

Interest Detail Accrued Interest Net PrePrey ReimPrepay Interest Cumulative Cumulative Class Cert Int Shtfl Int Shtfl of Prior Int Dist. Amou Pre pay Interest Sht fl 1-A1 332573.10 0.00 0.00 0.00 332573.10 0.00 0.00 2-A1 117720.00 0.00 0.00 0.00 117720.00 0.00 0.00 3-A1 487918.75 0.00 0.00 0.00 487918.75 0.00 0.00 3-PAX1 11009.10 0.00 0.00 0.00 11009.10 0.00 0.00 4-A1 1670641.75 0.00 0.00 0.00 1670641.75 0.00 0.00 AP N/A N/A N/A N/A N/A N/A N/A AX1 20243.38 0.00 0.00 0.00 20243.38 0.00 0.00 B1 64504.86 0.00 0.00 0.00 64504.86 0.00 0.00 B2 21955.29 0.00 0.00 0.00 21955.29 0.00 0.00 B3 12341.07 0.00 0.00 0.00 12341.07 0.00 0.00 B4 10970.38 0.00 0.00 0.00 10970.38 0.00 0.00 B5 8229.00 0.00 0.00 0.00 8229.00 0.00 0.00 B6 5549.23 0.00 0.00 0.00 5549.23 0.00 0.00 R 0.47 0.00 0.00 0.00 0.47 0.00 0.00 P N/A N/A N/A N/A 5340.25 N/A N/A E N/A N/A N/A N/A 0.00 N/A N/A 2763656.38 0.00 0.00 0.00 2768996.63 0.00 0.00 Component Classes AX(2) 9230.47 0.00 0.00 0.00 9230.47 0.00 0.00 AX(3) 11012.91 0.00 0.00 0.00 11012.91 0.00 0.00 AP(2) N/A N/A N/A N/A N/A N/A N/A AP(3) N/A N/A N/A N/A N/A N/A N/A Report to Certificateholders Delinquency Statistics Pool 1 1 Month 2 Months 3+ Months Foreclosure Bankruptcy REO # of Loans 0 0 0 0 0 0 Schedule Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00 Pool 2 # of Loans 0 0 0 0 0 0 Schedule Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00 Pool 3 # of Loans 0 0 0 0 0 0 Schedule Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00 Pool 4 # of Loans 2 0 0 0 0 0 Schedule Principal Balance 495,481.62 0.00 0.00 0.00 0.00 0.00 Total # of Loans 2 0 0 0 0 0 Schedule Principal Balance 495,481.62 0.00 0.00 0.00 0.00 0.00 Mortgage Pool Realized Losses Collateral Losses Bankruptcy Losses Current Month Since Cutoff Current Loss Limit Pool 1 0.00 0.00 0.00 See Note Pool 2 0.00 0.00 0.00 See Note Pool 3 0.00 0.00 0.00 See Note Pool 4 0.00 0.00 0.00 See Note Total 0.00 0.00 0.00 Note: Combined Loss Limit fBankruptcye Mortgage Pools: 108,441.00 Fraud Losses Special Hazard Losses Current Loss Limit Current Loss Limit 0.00 See Note 0.00 See Note 0.00 See Note 0.00 See Note 0.00 See Note 0.00 See Note 0.00 See Note 0.00 See Note 0.00 0.00 Fraud Special Hazard 11,336,312.00 5,668,156.00 Advance Information Pool 1 Pool 2 Pool 3 Pool 4 Total Aggregate Advances ReN/Ared N/A N/A N/A N/A Aggregate Advances Ma 478,935.11 247,599.25 821,776.12 2,358,755.14 3,907,065.62 N/A N/A N/A N/A N/A Report to Certificateholders Collateral Information: Pool 1 Pool 2 Pool 3 Pool 4 Total Beg. Agg Principal Balance 74,382,721.20 33,201,584.18 114,162,196.40 345,069,130.13 566,815,631.91 Scheduled Principal 168,193.37 131,077.84 411,936.20 326,206.00 1,037,413.41 Unscheduled Principal 95,978.73 2,962.99 267,775.77 2,082,349.55 2,449,067.04 Liquidation Proceeds 0.00 0.00 0.00 0.00 0.00 Insurance Proceeds 0.00 0.00 0.00 0.00 0.00 Ending Aggregate Principal Balance 74,118,549.10 33,067,543.35 113,482,484.43 342,660,574.58 563,329,151.46 Ending Non-AP Pool Balance 74,118,549.10 32,754,125.54 110,923,206.00 342,660,574.58 560,456,455.22 Loan Count Beginning 350 99 354 1936 2739 Payoffs 1 0 1 10 12 Ending 349 99 353 1926 2,727 Master Servicing and Servicing Fees: Master Servicing Fees 0.00 Other Servicing Fees 118,090.20 Loan Number Principal Balance Deleted Mortgage Loans Qualifying Substitute Mortgage Loans Original Certificate Ratings S&P Moody's Class Rating Rating 1-A1 AAA Aaa 2-A1 AAA Aaa 3-A1 AAA Aaa 3-PAX AAA Aaa 4-A1 AAA Aaa AP AAA Aaa AX AAA Aaa R AAA Aaa B1 AA N/A B2 A N/A B3 BBB N/A

STRUCTURED ASSET SECURITIES CORP MORT PS-THR CERT SER 2004-3 8-K