Item 1. Business
Omitted.
Item 2.
Item 2. Properties
See Item 14(a), Exhibit 99.3, for information provided in lieu of information required by Item 102 of Regulation S-K.
Item 3.
Item 3. Legal Proceedings
None.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote of holders of equity interest during the period covered by this report through the solicitation of proxies or otherwise.
PART II
Item 5.
Item 5. Market for the Registrant's Common Equity and Related Stockholder Matters.
(a) The Issuer does not issue stock. There is no established trading market for the Trust's securities.
(b) As of December 31, 1996, the number of holders of Certificates was 23.
(c) Not applicable.
Item 6.
Item 6. Selected Financial Data.
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9.
Item 9. Changes In and Disagreement with Accountants on Accounting and Financial Disclosure.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Omitted.
Item 11.
Item 11. Executive Compensation.
Omitted.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
None.
Item 13.
Item 13. Certain Relationships and Related Transactions.
None.
PART IV Item 14.
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8K
(a) Exhibits. The following exhibits are or will be provided.
99.1 Annual Report of Independent Public Accountants' as to master servicing activities or servicing activities, as applicable.
(a) American City Mortgage Corp., as servicer (b) America First Credit Union, as servicer (c) Bancoklahoma, as servicer (d) Bank of America, as servicer (e) Chase Manhattan Mortgage, as servicer (f) Flagship Federal Savings Bank, as servicer (g) GMAC Mortgage Corporation, as servicer (h) The Greater NY Savings Bank, as servicer (i) Knutson Mortgage Corporation, as servicer (j) Navy Federal Credit Union, as servicer (k) Norwest Mortgage, Inc., as servicer (l) Ryland Mortgage Company, Inc., as servicer (m) Seattle Mortgage, as servicer
99.2 Management Assertion Letter
(a) American City Mortgage Corp., as servicer (b) America First Credit Union, as servicer (c) Bancoklahoma, as servicer (d) Bank of America, as servicer (e) Chase Manhattan Mortgage, as servicer (f) Flagship Federal Savings Bank, as servicer (g) GMAC Mortgage Corporation, as servicer (h) The Greater NY Savings Bank, as servicer (i) Knutson Mortgage Corporation, as servicer (j) Navy Federal Credit Union, as servicer (k) Norwest Mortgage, Inc., as servicer (l) Ryland Mortgage Company, Inc., as servicer (m) Seattle Mortgage, as servicer
99.3 Annual Statement of Compliance with obligations under the Pooling and Servicing Agreement or servicing agreement, as applicable, of:
(a) American City Mortgage Corp., as servicer (b) America First Credit Union, as servicer (c) Bancoklahoma, as servicer (d) Bank of America, as servicer (e) Chase Manhattan Mortgage, as servicer (f) Flagship Federal Savings Bank, as servicer (g) GMAC Mortgage Corporation, as servicer (h) The Greater NY Savings Bank, as servicer (i) Knutson Mortgage Corporation, as servicer (j) Navy Federal Credit Union, as servicer (k) Norwest Mortgage, Inc., as servicer (l) Ryland Mortgage Company, Inc., as servicer (m) Seattle Mortgage, as servicer
(b) On November 13, 1996, and December 13, 1996, reports on Form 8-K were filed in order to provide the statements for the monthly distributions to holders of the Certificates. No reports on Form 8-K have been filed during the last quarter of the period covered by this report.
(c) Not applicable.
Such document (i) is not filed herewith since such document was not received by the Reporting Person at least three business days prior to the due date of this report; and (ii) will be included in an amendment to this report on Form 10-K/A to be filed within 30 days of the Reporting Person's receipt of such document.
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
(a)(1) No annual report is provided to the Certificateholders other than with respect to aggregate principal and interest distributions.
(b)(1) No proxy statement, form of proxy or other proxy soliciting material has been sent to any Certificate holder with respect to any annual or other meeting of Certificateholders.
SIGNATURES
Pursuant to the requirements of Section 13 and 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Structured Asset Securities Corporation, Series 1996-01 Trust (Registrant)
By: Chase Manhattan Bank, N.A. Trustee By: Norwest Bank Minnesota, N.A. as Agent for the Trustee
By: /s/Sherri J. Sharps Name: Sherri J. Sharps Title: Vice president Date: March 21, 1997