Structured Asset Securities Corporation  Mortgage Pass-Through Certificates, Series
2004-16XS
Distribution Date:     09/27/2004
Record Date:           08/31/2004

Distribution Summary

DISTRIBUTION IN DOLLARS

                                             Prior         Pass-                                                                                    Current
                       Original              Principal     Through       Interest    Principal    Total          Deferred               Realized    Principal
Class                  Balance               Balance       Rate          Distributed Distributed  Distributed    Interest               Loss        Balance
(1)                    (2)                   (3)           (4)           (5)         (6)          (7)=(5+6)      (8)                    (9)         (10)=(3-6+8-9)

A1                     98,088,000.00         89,903,898.96 1.785000%     147,105.25  7,242,804.29 7,389,909.54   0.00                   0.00        82,661,094.67

A2                     62,222,000.00         62,222,000.00 4.910000%     254,591.68  0.00         254,591.68     0.00                   0.00        62,222,000.00

A3A                    15,190,000.00         15,190,000.00 5.990000%     75,823.42   0.00         75,823.42      0.00                   0.00        15,190,000.00

A3B                    35,441,000.00         35,441,000.00 5.910000%     174,546.92  0.00         174,546.92     0.00                   0.00        35,441,000.00

A4A                    11,719,000.00         11,719,000.00 5.440000%     53,126.13   0.00         53,126.13      0.00                   0.00        11,719,000.00

A4B                    11,719,000.00         11,719,000.00 5.360000%     52,344.87   0.00         52,344.87      0.00                   0.00        11,719,000.00

M1                     5,355,000.00          5,355,000.00  5.920000%     26,418.00   0.00         26,418.00      0.00                   0.00        5,355,000.00

M2                     4,359,000.00          4,359,000.00  6.410000%     23,284.33   0.00         23,284.33      0.00                   0.00        4,359,000.00

M3                     4,608,000.00          4,608,000.00  6.400000%     24,576.00   0.00         24,576.00      0.00                   0.00        4,608,000.00

X                      373,607.99            981,280.75    0.000000%     267,923.80  0.00         267,923.80     263,992.25             0.00        1,245,273.00

P                      100.00                100.00        0.000000%     2,346.00    0.00         2,346.00       0.00                   0.00        100.00

R                      0.00                  0.00          0.000000%     0.00        0.00         0.00           0.00                   0.00        0.00

Totals                 249,074,707.99        241,498,279.71              1,102,086.407,242,804.29 8,344,890.69   0.00                   0.00        224,307,094.67

Distribution Summary (Factors)

PER $1,000 OF ORIGINAL BALANCE

                                             Prior                                                                                      Current
                                             Principal     Interest      Principal   Total        Deferred       Realized               Principal
                                                           Distributed
Class                  CUSIP                 Balance       (5/2 x 1000)  Distributed Distributed  Interest       Loss                   Balance
                                             (3/2 x 1000)                (6/2 x 1000)(7/2 x 1000) (8/2 x 1000)   (9/2 x 1000)           (10/2 x
                                                                                                                                        1000)

A1                     86359BXG1             916.563687    1.499727      73.839861   75.339588    0.000000       0.000000               842.723826

A2                     86359BXH9             1,000.000000  4.091667      0.000000    4.091667     0.000000       0.000000               1,000.000000

A3A                    86359BXJ5             1,000.000000  4.991667      0.000000    4.991667     0.000000       0.000000               1,000.000000

A3B                    86359BXK2             1,000.000000  4.925000      0.000000    4.925000     0.000000       0.000000               1,000.000000

A4A                    86359BXL0             1,000.000000  4.533333      0.000000    4.533333     0.000000       0.000000               1,000.000000

A4B                    86359BXM8             1,000.000000  4.466667      0.000000    4.466667     0.000000       0.000000               1,000.000000

M1                     86359BXN6             1,000.000000  4.933333      0.000000    4.933333     0.000000       0.000000               1,000.000000

M2                     86359BXP1             1,000.000000  5.341668      0.000000    5.341668     0.000000       0.000000               1,000.000000

M3                     86359BXQ9             1,000.000000  5.333333      0.000000    5.333333     0.000000       0.000000               1,000.000000

X                                            2,626.498298  717.125455    0.000000    717.125455   706.602260     0.000000               3,333.100558

P                                            1,000.000000  23,460.000000 0.000000    23,460.0000000.000000       0.000000               1,000.000000

Interest Distribution
Detail

DISTRIBUTION IN DOLLARS

                       Prior                 Pass-         Optimal       Prior       Non-Recov                                                      Current
                       Principal             Through       Accrued       Unpaid      Interest     Interest       Deferred               Interest    Unpaid
                                                                                                                                        Distributed
Class                  Balance               Rate          Interest      Interest    Shortfall    Due            Interest               (9)         Interest
(1)                    (2)                   (3)           (4)           (5)         (6)          (7)=(4)+(5)-(6)(8)                                (10)=(7)-(8)-(9)

A1                     89,903,898.96         1.785000%     147,105.25    0.00        0.00         147,105.25     0.00                   147,105.25  0.00

A2                     62,222,000.00         4.910000%     254,591.68    0.00        0.00         254,591.68     0.00                   254,591.68  0.00

A3A                    15,190,000.00         5.990000%     75,823.42     0.00        0.00         75,823.42      0.00                   75,823.42   0.00

A3B                    35,441,000.00         5.910000%     174,546.92    0.00        0.00         174,546.92     0.00                   174,546.92  0.00

A4A                    11,719,000.00         5.440000%     53,126.13     0.00        0.00         53,126.13      0.00                   53,126.13   0.00

A4B                    11,719,000.00         5.360000%     52,344.87     0.00        0.00         52,344.87      0.00                   52,344.87   0.00

M1                     5,355,000.00          5.920000%     26,418.00     0.00        0.00         26,418.00      0.00                   26,418.00   0.00

M2                     4,359,000.00          6.410000%     23,284.33     0.00        0.00         23,284.33      0.00                   23,284.33   0.00

M3                     4,608,000.00          6.400000%     24,576.00     0.00        0.00         24,576.00      0.00                   24,576.00   0.00

X                      981,280.75            0.000000%     531,916.05    0.00        0.00         531,916.05     263,992.25             267,923.80  0.00

P                      100.00                0.000000%     2,346.00      0.00        0.00         2,346.00       0.00                   2,346.00    0.00

R                      0.00                  0.000000%     0.00          0.00        0.00         0.00           0.00                   0.00        0.00

  Totals               241,498,279.71                      1,366,078.65  0.00        0.00         1,366,078.65   0.00                   1,102,086.400.00

Principal Distribution
Detail

DISTRIBUTION IN DOLLARS

                                             Prior                                   Current      Current        Current                Cumulative
                       Original              Principal     Principal     Accreted    Realized     Principal      Principal              Realized
Class                  Balance               Balance       Distribution  Principal   Losses       Recoveries     Balance                Losses
(1)                    (2)                   (3)           (4)           (5)         (6)          (7)            (8)=(3)-(4)+(5)-(6)+(7)(9)

A1                     98,088,000.00         89,903,898.96 7,242,804.29  0.00        0.00         0.00           82,661,094.67          0.00

A2                     62,222,000.00         62,222,000.00 0.00          0.00        0.00         0.00           62,222,000.00          0.00

A3A                    15,190,000.00         15,190,000.00 0.00          0.00        0.00         0.00           15,190,000.00          0.00

A3B                    35,441,000.00         35,441,000.00 0.00          0.00        0.00         0.00           35,441,000.00          0.00

A4A                    11,719,000.00         11,719,000.00 0.00          0.00        0.00         0.00           11,719,000.00          0.00

A4B                    11,719,000.00         11,719,000.00 0.00          0.00        0.00         0.00           11,719,000.00          0.00

M1                     5,355,000.00          5,355,000.00  0.00          0.00        0.00         0.00           5,355,000.00           0.00

M2                     4,359,000.00          4,359,000.00  0.00          0.00        0.00         0.00           4,359,000.00           0.00

M3                     4,608,000.00          4,608,000.00  0.00          0.00        0.00         0.00           4,608,000.00           0.00

X                      373,607.99            981,280.75    0.00          263,992.25  0.00         0.00           1,245,273.00           0.00

P                      100.00                100.00        0.00          0.00        0.00         0.00           100.00                 0.00

R                      0.00                  0.00          0.00          0.00        0.00         0.00           0.00                   0.00

  Totals               244,093,000.00        241,498,279.717,242,804.29  807,240.60  7,242,804.29 0.00           234,519,467.67         0.00

Collateral Summary

ASSET CHARACTERISTICS

                       Cut-Off               Prior         Current

Aggregate Stated
Principal Balance      249,074,707.99        241,498,279.71234,519,467.67

Loan Count             1,227                 1,194         1,167

Weighted Average Coupon
Rate (WAC)             7.056545%             7.053553%     N/A

Net Weighted Average
Coupon Rate (Net WAC)  6.799254%             6.791982%     N/A

Weighted Average
Maturity (WAM in       352                   351           350
months)

AVAILABLE PRINCIPAL    AVAILABLE INTEREST

Scheduled Interest     1,419,517.28
Curtailments           458,487.25
Less:                  Servicing Fees        51,822.63
MBIA Insurance Premium 3,144.00
Uncompensated PPIS     0.00
Relief Act Shortfall   0.00
Other Interest
Reductions             0.00
TOTAL AVAILABLE
PRINCIPAL              76,487.00
TOTAL AVAILABLE
INTEREST               1,364,550.65
Current Realized Losses0.00
Cumulative Realized
Losses                 0.00

Delinquency Information

Less Than
30 Days                30-59 Days            60-89 Days    90+ Days      Totals

Delinquency

Scheduled Principal
Balance                995,436.73            0.00          0.00          995,436.73
Percentage of Total
Pool Balance           0.4245%               0.0000%       0.0000%       0.4245%
Number of Loans        5                     0             0             5

Percentage of Total
Loans                  0.4284%               0.0000%       0.0000%       0.4284%
Bankruptcy

Scheduled Principal
Balance                138,456.39            0.00          0.00          0.00        138,456.39
Percentage of Total
Pool Balance           0.0590%               0.0000%       0.0000%       0.0000%     0.0590%

Number of Loans        1                     0             0             0           1
Percentage of Total
Loans                  0.0857%               0.0000%       0.0000%       0.0000%     0.0857%

Foreclosure

Scheduled Principal
Balance                                      0.00          0.00          0.00        0.00
Percentage of Total Pool Balance             0.0000%       0.0000%       0.0000%     0.0000%

Number of Loans                              0             0             0           0
Percentage of Total
Loans                                        0.0000%       0.0000%       0.0000%     0.0000%

REO

Scheduled Principal
Balance                                      0.00          0.00          0.00        0.00
Percentage of Total Pool Balance             0.0000%       0.0000%       0.0000%     0.0000%

Number of Loans                              0             0             0           0
Percentage of Total
Loans                                        0.0000%       0.0000%       0.0000%     0.0000%

Total

Scheduled Principal
Balance                138,456.39            995,436.73    0.00          0.00        1,133,893.12
Percentage of Total
Pool Balance           0.0590%               0.4245%       0.0000%       0.0000%     0.4835%

Number of Loans        1                     5             0             0           6
Percentage of Total
Loans                  0.0857%               0.4284%       0.0000%       0.0000%     0.5141%

Principal and Interest
Advances               1,073,110.75

Credit Enhancement

GROUP 1

Required Overcollateralization Amount        1,245,373.00  0.5000%
Prior Overcollateralization Amount           981,380.75    0.4064%
Overcollateralization
Deficiency Amount      263,992.25
Excess
Overcollateralization  0.00
Amount

Excess Spread Available
for O/C Deficiency     0.00
Overcollateralization
Increase Amount        263,992.25
Overcollateralization
Reduction Amount       0.00

Current
Overcollateralization                        1,245,373.00  0.5000%

Other Information

Class A1 Current Cap
Agreement Amount       0.00
Class A1 Next Cap
Agreement Amount       0.00

Net Funds Cap          6.776360%
Any Certificates
reflect the applicationNo
of the Net Funds Cap?

CONTACT INFORMATION    CONTENTS

Distribution Summary   2
Depositor              Structured Asset
                       Securities Corporation
Distribution Summary
(Factors)              2

New York, NY  10019
Interest Distribution  2
Underwriter            Lehman Brothers
745 Seventh Avenue, 7th
Floor
Principal Distribution 2
New York, NY  10019

Collateral Summary     2
2530 South Parker Road, Suite 601

Delinquency Information2

Trustee                Wilmington Trust
                       Company
Credit Enhancement     2

Wilmington, DE  19890
Other Information      2

Deal Contact:          Karen Schluter        Citibank, N.A.
karen.schluter@citi.com                      Agency and
                                             Trust
                                             111 Wall
Tel: (212) 657-7781                          Street, 14th
                                             Floor, Zone 3
Fax: (212) 657-4009                          New York, NY
                                             10005

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                       www.sf.citidirect.com 2004 Citigroup

Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-16XS 8-K