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) : April 25, 1996

         STRUCTURED ASSET SECURITIES CORPORATION (as depositor under the 
         Trust Agreement,  dated as of April 1, 1996, providing  for  the  
         issuance of Structured  Asset  Securities   Corporation  Mortgage
         Pass-Through Certificates, Series GreenPoint 1996-A)
                   
                    STRUCTURED ASSET SECURITIES CORPORATION
             (Exact name of registrant as specified in its charter)


           Delaware                       33-99598                  74-2440850
(State or other jurisdiction       (Commission File Number)       (IRS Employer
of incorporation or organization)                            Identification No.)

     200 Vesey Street
   New York, New York                                                 10285
  (Address of Principal                                            (Zip Code)
    Executive Offices)

    Registrant's telephone number, including area code : (212) 526-5594


       Registrant's telephone number, including area code : (704) 386-5000

                                       N/A
         (Former name or former address, if changed since last report.)



                                  Page 1 of 4      This report consists of 29
                                                   consecutively numbered pages.



<PAGE>




                                                   

Item 5.    Other Events.
-------    -------------

           On May 28, 1996, June 25, 1996, July 25, 1996, August 25, 1996 and 
           September 25, 1996 distributions were made to the Certificateholders.
           Specific information with respect to the distributions is filed as 
           Exhibits 99.1, and 99.2, 99.3, 99.4 and 99.5 hereto.

           No other reportable transactions or matters have occurred during the
           current reporting period.


Item 7.    Financial Statements and Exhibits.
-------    ----------------------------------

           (c)   The following exhibits are filed as part of this report:

                 Statement to Certificateholders on May 28, 1996 filed as
                  Exhibit 99.1 hereto.

                 Statement to Certificateholders on June 25, 1996 filed as
                  Exhibit 99.2 hereto.

                 Statement to Certificateholders on July 25, 1996 filed as
                  Exhibit 99.3 hereto.

                 Statement to Certificateholders on August 25, 1996 filed as
                  Exhibit 99.4 hereto.

                 Statement to Certificateholders on September 25, 1996 filed as
                  Exhibit 99.5 hereto.



                                       2
<PAGE>




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
                                       MORTGAGE PASS-THROUGH CERTIFICATES,
                                       SERIES GREENPOINT 1996-A

Date: APRIL 10, 1997                   By:  /s/ Prue Larocca
                                            ---------------------
                                            Prue Larocca
                                            Vice President



                                       3
<PAGE>


INDEX TO EXHIBITS
-----------------


      Exhibit
      Number                   Description of Exhibits                Page
      ------             --------------------------------------       ----


        99.1             Monthly Certificateholder Statement on        5
                         May 28, 1996.

        99.2             Monthly Certificateholder Statement on        10
                         June 25, 1996.

        99.3             Monthly Certificateholder Statement on        15
                         July 25, 1996

        99.4             Monthly Certificateholder Statement on        20
                         August 25, 1996.

        99.5             Monthly Certificateholder Statement on        25
                         September 25, 1996




                                       4
<PAGE>



                                  Exhibit 99.1

              Monthly Certificateholder Statement on May 28, 1996


                                       5

<PAGE>
<TABLE>

Creation Date :  Tue May 28, 1996  02:53 PM       SASC 1996-A      PAGE No. 001

                       MONTHLY CERTIFICATE HOLDERS REPORT
                       ----------------------------------
 
Due Period :  1 Beginning Date     :  04/02/1996  End Date        :  04/30/1996
                Determination Date :  05/15/1996  Remittance Date :  05/28/1996

 
           STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A

     I. Cash Received

<S>                 <C>                <C>                             <C>
GRP                  MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Scheduled Prin                73,051.24          65,708.46         138,759.70
Prepayment Prin               61,908.62             227.83          62,136.45
Payoff Prin                  577,090.37          82,934.29         660,024.66
Liquidation Proceeds               0.00               0.00               0.00
Insurance Proceeds                 0.00               0.00               0.00
Scheduled Int                877,250.96         146,885.97       1,024,136.93
TOTAL                      1,589,301.19         295,756.55       1,885,057.74

    II. Pool Balance

Beginning Balance        123,864,680.29      21,732,632.25     145,597,312.54
Scheduled Prin                73,051.24          65,708.46         138,759.70
Prepay Prin                   61,908.62             227.83          62,136.45
Payoff Prin                  577,090.37          82,934.29         660,024.66
Other                              0.00               0.00               0.00
Ending Balance           123,152,630.06      21,583,761.67     144,736,391.73

   III. Servicing Advances

GRP              MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Current Advances                   0.00               0.00               0.00

    IV. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
                  A1     120,147,800.00        8.49880000%   $ 850,926.77       $ 0.00   $ 850,926.77
                  R1             100.00        8.49880000%         $ 0.71       $ 0.00         $ 0.71
                  R2             100.00        8.49880000%         $ 0.71       $ 0.00         $ 0.71
               TOTAL     120,148,000.00                      $ 850,928.19       $ 0.00   $ 850,928.19

                  A2      21,080,000.00        8.11053000%   $ 142,474.98       $ 0.00   $ 142,474.98
               TOTAL      21,080,000.00                      $ 142,474.98       $ 0.00   $ 142,474.98

     V. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
               TOTAL               0.00                            $ 0.00       $ 0.00         $ 0.00
                  B1       1,821,000.00        0.00000000%    $ 12,808.92       $ 0.00    $ 12,808.92
                  B2         728,000.00        0.00000000%     $ 5,120.75       $ 0.00     $ 5,120.75
                  B3         728,000.00        0.00000000%     $ 5,120.75       $ 0.00     $ 5,120.75
                  B4         437,000.00        0.00000000%     $ 3,073.86       $ 0.00     $ 3,073.86
                  B5         291,000.00        0.00000000%     $ 2,046.90       $ 0.00     $ 2,046.90
                  B6         364,312.54        0.00000000%     $ 2,562.58       $ 0.00     $ 2,562.58
          TOTAL            4,369,312.54                       $ 30,733.76       $ 0.00    $ 30,733.76


                                         6
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Tue May 28, 1996  02:53 PM       SASC 1996-A      PAGE No. 002
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  1 Beginning Date     :  04/02/1996  End Date        :  04/30/1996
                Determination Date :  05/15/1996  Remittance Date :  05/28/1996
 
 
    VI. Principal to Certificateholders
    <S>                 <C>            <C>                   <C>                   <C>                  
    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
                  A1     120,147,800.00         709,858.26     119,437,941.74       0.9940917914
                  R1             100.00               0.00             100.00       1.0000000000
                  R2             100.00               0.00             100.00       1.0000000000
               TOTAL     120,148,000.00         709,858.26     119,438,141.74

                  A2      21,080,000.00         146,897.35      20,933,102.65       0.9930314350
               TOTAL      21,080,000.00         146,897.35      20,933,102.65

   VII. Principal to Certificateholders

    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
               TOTAL               0.00               0.00               0.00

                  B1       1,821,000.00           4,165.20       1,816,834.80       0.9977126853
                  B2         728,000.00               0.00         728,000.00       1.0000000000
                  B3         728,000.00               0.00         728,000.00       1.0000000000
                  B4         437,000.00               0.00         437,000.00       1.0000000000
                  B5         291,000.00               0.00         291,000.00       1.0000000000
                  B6         364,312.54               0.00         364,312.54       1.0000000000
               TOTAL       4,369,312.54           4,165.20       4,365,147.34

  VIII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
                  A1     120,147,800.00         850,926.77           1,000.00     $ 7.0823333428
                  R1             100.00               0.71           1,000.00     $ 7.1000000000
                  R2             100.00               0.71           1,000.00     $ 7.1000000000
               TOTAL     120,148,000.00         850,928.19

                  A2      21,080,000.00         142,474.98           1,000.00     $ 6.7587751423
               TOTAL      21,080,000.00         142,474.98

    IX. Single Certificate Interest Distribution

    TRANCH_COMPONENT      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          12,808.92           1,000.00     $ 7.0340030000
                  B2         728,000.00           5,120.75           1,000.00     $ 7.0339973000
                  B3         728,000.00           5,120.75           1,000.00     $ 7.0339973000
                  B4         437,000.00           3,073.86           1,000.00     $ 7.0340046000
                  B5         291,000.00           2,046.90           1,000.00     $ 7.0340206000
                  B6         364,312.54           2,562.58           1,000.00     $ 7.0340154000
               TOTAL       4,369,312.54          30,733.76


                                        7
</TABLE>
<PAGE>
<TABLE>

Creation Date :  Tue May 28, 1996  02:53 PM       SASC 1996-A      PAGE No. 003
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  1 Beginning Date     :  04/02/1996  End Date        :  04/30/1996
                Determination Date :  05/15/1996  Remittance Date :  05/28/1996
 
 
     X. Single Certificate Principal Distribution
              <S>         <C>             <C>               <C>                  <C>                              
              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
                  A1     120,147,800.00         709,858.26           1,000.00     $ 5.9082085565
                  R1             100.00               0.00           1,000.00     $ 0.0000000000
                  R2             100.00               0.00           1,000.00     $ 0.0000000000
               TOTAL     120,148,000.00         709,858.26

                  A2      21,080,000.00         146,897.35           1,000.00     $ 6.9685649905
               TOTAL      21,080,000.00         146,897.35

    XI. Single Certificate Principal Distribution

    TRANCH_COMPONENT      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00           4,165.20           1,000.00     $ 2.2873147000
                  B2         728,000.00               0.00           1,000.00     $ 0.0000000000
                  B3         728,000.00               0.00           1,000.00     $ 0.0000000000
                  B4         437,000.00               0.00           1,000.00     $ 0.0000000000
                  B5         291,000.00               0.00           1,000.00     $ 0.0000000000
                  B6         364,312.54               0.00           1,000.00     $ 0.0000000000
               TOTAL       4,369,312.54           4,165.20

   XII. Percentage Distribution

               CLASS Scheduled Percenta  Beginning Balance Prepayment Percent
                   A     96.9994026697%     120,148,000.00    100.0000000000%
              SUBORD      3.0005973303%       3,716,680.29      0.0000000000%

                   A     96.9969940020%      21,080,000.00    100.0000000000%
              SUBORD      3.0030059980%         652,632.25      0.0000000000%

  XIII. Servicing Fee

                 GRP             Amount
  MORTGAGE GROUP ONE          25,805.14
  MORTGAGE GROUP TWO           4,527.63
               TOTAL          30,332.77

   XIV. Delinquency Information for Due Period

 
               PERIOD     Number  Principal Balance
             30 DAYS          1         107,807.34
             60 DAYS          0               0.00
            90+ DAYS          0               0.00
               TOTAL          1         107,807.34
 

                                        8

</TABLE>
<PAGE>

Creation Date :  Tue May 28, 1996  02:53 PM       SASC 1996-A      PAGE No. 004
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  1 Beginning Date     :  04/02/1996  End Date        :  04/30/1996
                Determination Date :  05/15/1996  Remittance Date :  05/28/1996
 
 
    XV. Realized Losses
 
GRP            MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount               0.00               0.00
Total Amount                 0.00               0.00
 
   XVI. Book Value REO
 
                 GRP   Principal Amount
  MORTGAGE GROUP ONE               0.00
  MORTGAGE GROUP TWO               0.00

  XVII. Covered Loss Amount Information

GROUP0                 POOL TOTAL
Special Hazard         728,000.00
Remaining Amt          728,000.00
Bankrupcy              100,000.00
Remaining Amt          100,000.00
Fraud Loss           1,455,973.00
Remaining Amt        1,455,973.00

 XVIII. Number of Loans

GRP                   MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number               1087                189
Loans Paid Off                         2                  1
Ending Loan Number                  1085                188

   XIX. Residual Payment

Amount               0.00               0.00

    XX. Mortgage Loan Substitutions

Deleted Loans                   0.00               0.00
Substituted Loans               0.00               0.00


                                       9
<PAGE>

                                  Exhibit 99.2

              Monthly Certificateholder Statement on June 25, 1996

                                       10

<PAGE>
<TABLE>
Creation Date :  Mon Jun 24, 1996  02:07 PM       SASC 1996-A       PAGE No. 001
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  2 Beginning Date     :  05/01/1996  End Date         :  05/31/1996
                Determination Date :  06/13/1996  Remittance Date  :  06/25/1996
 
 
                 STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A

     I. Cash Received
<S>                 <C>                <C>                             <C>
GRP                  MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Scheduled Prin                75,999.13          66,314.29         142,313.42
Prepayment Prin               73,379.90           3,154.87          76,534.77
Payoff Prin                  788,106.03         649,220.93       1,437,326.96
Liquidation Proceeds               0.00               0.00               0.00
Insurance Proceeds                 0.00               0.00               0.00
Scheduled Int                872,342.84         145,423.98       1,017,766.82
TOTAL                      1,809,827.90         864,114.07       2,673,941.97

    II. Pool Balance

Beginning Balance     123,152,630.06      21,583,761.67     144,736,391.73
Scheduled Prin             75,999.13          66,314.29         142,313.42
Prepay Prin                73,379.90           3,154.87          76,534.77
Payoff Prin               788,106.03         649,220.93       1,437,326.96
Other                           0.00               0.00               0.00
Ending Balance        122,215,145.00      20,865,071.58     143,080,216.58

   III. Servicing Advances

GRP              MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Current Advances               0.00               0.00               0.00

    IV. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
                  A1     119,437,941.74        8.50011400%   $ 846,030.10       $ 0.00   $ 846,030.10
                  R1             100.00        8.50011400%         $ 0.71       $ 0.00         $ 0.71
                  R2             100.00        8.50011400%         $ 0.71       $ 0.00         $ 0.71
               TOTAL     119,438,141.74                      $ 846,031.52       $ 0.00   $ 846,031.52

                  A2      20,933,102.65        8.08518800%   $ 141,040.06       $ 0.00   $ 141,040.06
               TOTAL      20,933,102.65                      $ 141,040.06       $ 0.00   $ 141,040.06

     V. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
               TOTAL               0.00                            $ 0.00       $ 0.00         $ 0.00

                  B1       1,816,834.80        0.00000000%    $ 12,776.05       $ 0.00    $ 12,776.05
                  B2         728,000.00        0.00000000%     $ 5,119.14       $ 0.00     $ 5,119.14
                  B3         728,000.00        0.00000000%     $ 5,119.14       $ 0.00     $ 5,119.14
                  B4         437,000.00        0.00000000%     $ 3,072.89       $ 0.00     $ 3,072.89
                  B5         291,000.00        0.00000000%     $ 2,046.25       $ 0.00     $ 2,046.25
                  B6         364,312.54        0.00000000%     $ 2,561.77       $ 0.00     $ 2,561.77
               TOTAL       4,365,147.34                       $ 30,695.24       $ 0.00    $ 30,695.24


                                         11
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Mon Jun 24, 1996  02:07 PM       SASC 1996-A      PAGE No. 002
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  2 Beginning Date     :  05/01/1996  End Date        :  05/31/1996
                Determination Date :  06/13/1996  Remittance Date :  06/25/1996
 
 
    VI. Principal to Certificateholders
    <S>                    <C>          <C>                  <C>                    <C>                       
    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
                  A1     119,437,941.74         935,192.80     118,502,748.94       0.9863081050
                  R1             100.00               0.00             100.00       1.0000000000
                  R2             100.00               0.00             100.00       1.0000000000
               TOTAL     119,438,141.74         935,192.80     118,502,948.94

                  A2      20,933,102.65         716,690.99      20,216,411.66       0.9590328112
               TOTAL      20,933,102.65         716,690.99      20,216,411.66

   VII. Principal to Certificateholders

    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
               TOTAL               0.00               0.00               0.00

                  B1       1,816,834.80           4,291.36       1,812,543.44       0.9953560901
                  B2         728,000.00               0.00         728,000.00       1.0000000000
                  B3         728,000.00               0.00         728,000.00       1.0000000000
                  B4         437,000.00               0.00         437,000.00       1.0000000000
                  B5         291,000.00               0.00         291,000.00       1.0000000000
                  B6         364,312.54               0.00         364,312.54       1.0000000000
               TOTAL       4,365,147.34           4,291.36       4,360,855.98

  VIII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
                  A1     120,147,800.00         846,030.10           1,000.00     $ 7.0415779565
                  R1             100.00               0.71           1,000.00     $ 7.1000000000
                  R2             100.00               0.71           1,000.00     $ 7.1000000000
               TOTAL     120,148,000.00         846,031.52

                  A2      21,080,000.00         141,040.06           1,000.00     $ 6.6907049336
               TOTAL      21,080,000.00         141,040.06

    IX. Single Certificate Interest Distribution

    TRANCH_COMPONENT      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          12,776.05           1,000.00     $ 7.0159528000
                  B2         728,000.00           5,119.14           1,000.00     $ 7.0317857000
                  B3         728,000.00           5,119.14           1,000.00     $ 7.0317857000
                  B4         437,000.00           3,072.89           1,000.00     $ 7.0317849000
                  B5         291,000.00           2,046.25           1,000.00     $ 7.0317869000
                  B6         364,312.54           2,561.77           1,000.00     $ 7.0317920000
               TOTAL       4,369,312.54          30,695.24

                                         12
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Mon Jun 24, 1996  02:07 PM       SASC 1996-A      PAGE No. 003
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  2 Beginning Date     :  05/01/1996  End Date        :  05/31/1996
                Determination Date :  06/13/1996  Remittance Date :  06/25/1996
 
 
     X. Single Certificate Principal Distribution
              <S>         <C>             <C>               <C>                  <C>                              
              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
                  A1     120,147,800.00         935,192.80           1,000.00     $ 7.7836864262
                  R1             100.00               0.00           1,000.00     $ 0.0000000000
                  R2             100.00               0.00           1,000.00     $ 0.0000000000
               TOTAL     120,148,000.00         935,192.80

                  A2      21,080,000.00         716,690.99           1,000.00    $ 33.9986238140
               TOTAL      21,080,000.00         716,690.99

    XI. Single Certificate Principal Distribution

    TRANCH_COMPONENT      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00           4,291.36           1,000.00     $ 2.3565953000
                  B2         728,000.00               0.00           1,000.00     $ 0.0000000000
                  B3         728,000.00               0.00           1,000.00     $ 0.0000000000
                  B4         437,000.00               0.00           1,000.00     $ 0.0000000000
                  B5         291,000.00               0.00           1,000.00     $ 0.0000000000
                  B6         364,312.54               0.00           1,000.00     $ 0.0000000000
               TOTAL       4,369,312.54           4,291.36

   XII. Percentage Distribution

               CLASS Scheduled Percenta  Beginning Balance Prepayment Percent
                   A     96.9838335420%     119,438,141.74    100.0000000000%
              SUBORD      3.0161664580%       3,714,488.32      0.0000000000%

                   A     96.9854234403%      20,933,102.65    100.0000000000%
              SUBORD      3.0145765597%         650,659.02      0.0000000000%

  XIII. Servicing Fee

                 GRP             Amount
  MORTGAGE GROUP ONE          25,574.58
  MORTGAGE GROUP TWO           4,951.57
               TOTAL          30,526.15

   XIV. Delinquency Information for Due Period

             PERIOD     Number  Principal Balance
             30 DAYS         22       2,701,549.65
             60 DAYS          1          71,864.81
            90+ DAYS          0               0.00
               TOTAL         23       2,773,414.46
 
                                       13

</TABLE>
<PAGE>

Creation Date :  Mon Jun 24, 1996  02:07 PM       SASC 1996-A      PAGE No. 004
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  2 Beginning Date     :  05/01/1996  End Date        :  05/31/1996
                Determination Date :  06/13/1996  Remittance Date :  06/25/1996
 
 
    XV. Realized Losses
 
GRP            MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount               0.00               0.00
Total Amount                 0.00               0.00
 
   XVI. Book Value REO
 
                 GRP   Principal Amount
  MORTGAGE GROUP ONE               0.00
  MORTGAGE GROUP TWO               0.00

  XVII. Covered Loss Amount Information

GROUP0                 POOL TOTAL
Special Hazard         728,000.00
Remaining Amt          728,000.00
Bankrupcy              100,000.00
Remaining Amt          100,000.00
Fraud Loss           1,455,973.00
Remaining Amt        1,455,973.00

 XVIII. Number of Loans

GRP                   MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number               1085                188
Loans Paid Off                         3                  1
Ending Loan Number                  1082                187

   XIX. Residual Payment

Amount               0.00               0.00

    XX. Mortgage Loan Substitutions

Deleted Loans                   0.00               0.00
Substituted Loans               0.00               0.00


                                       14

<PAGE>
                                 Exhibit 99.3

              Monthly Certificateholder Statement on July 25, 1996

                                       15

<PAGE>
<TABLE>
Creation Date :  Wed Jul 10, 1996  11:43 AM       SASC 1996-A      PAGE No. 001
 
                                 MONTHLY CERTIFICATE HOLDERS REPORT
                                 ----------------------------------
 
Due Period :  3 Beginning Date     :  06/01/1996  End Date       :  06/30/1996
                Determination Date :  07/15/1996  Remittance Date:  07/25/1996
 
 
                 STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A

     I. Cash Received
<S>                 <C>                <C>                             <C>
GRP                  MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Scheduled Prin                76,898.20          64,990.29         141,888.49
Prepayment Prin               68,695.05          53,392.81         122,087.86
Payoff Prin                  257,356.32               0.00         257,356.32
Liquidation Proceeds               0.00               0.00               0.00
Insurance Proceeds                 0.00               0.00               0.00
Scheduled Int                865,225.56         141,238.62       1,006,464.18
TOTAL                      1,268,175.13         259,621.72       1,527,796.85

    II. Pool Balance

Beginning Balance     122,215,145.00      20,865,071.58     143,080,216.58
Scheduled Prin             76,898.20          64,990.29         141,888.49
Prepay Prin                68,695.05          53,392.81         122,087.86
Payoff Prin               257,356.32               0.00         257,356.32
Other                           0.00               0.00               0.00
Ending Balance        121,812,195.43      20,746,688.48     142,558,883.91

   III. Servicing Advances

GRP              MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Current Advances               0.00               0.00               0.00

    IV. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
                  A1     118,502,748.94        8.49541000%   $ 838,941.20       $ 0.00   $ 838,941.20
                  R1             100.00        8.49541000%         $ 0.71       $ 0.00         $ 0.71
                  R2             100.00        8.49541000%         $ 0.71       $ 0.00         $ 0.71
               TOTAL     118,502,948.94                      $ 838,942.62       $ 0.00   $ 838,942.62

                  A2      20,216,411.66        8.12297000%   $ 136,847.75       $ 0.00   $ 136,847.75
               TOTAL      20,216,411.66                      $ 136,847.75       $ 0.00   $ 136,847.75

     V. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
               TOTAL               0.00                            $ 0.00       $ 0.00         $ 0.00

                  B1       1,812,543.44        0.00000000%    $ 12,748.73       $ 0.00    $ 12,748.73
                  B2         728,000.00        0.00000000%     $ 5,120.13       $ 0.00     $ 5,120.13
                  B3         728,000.00        0.00000000%     $ 5,120.13       $ 0.00     $ 5,120.13
                  B4         437,000.00        0.00000000%     $ 3,073.49       $ 0.00     $ 3,073.49
                  B5         291,000.00        0.00000000%     $ 2,046.65       $ 0.00     $ 2,046.65
                  B6         364,312.54        0.00000000%     $ 2,562.26       $ 0.00     $ 2,562.26
               TOTAL       4,360,855.98                       $ 30,671.39       $ 0.00    $ 30,671.39

                                        16
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Wed Jul 10, 1996  11:43 AM       SASC 1996-A         PAGE No. 002
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  3 Beginning Date     :  06/01/1996  End Date           :  06/30/1996
                Determination Date :  07/15/1996  Remittance Date    :  07/25/1996
 
 
    VI. Principal to Certificateholders
    <S>                    <C>          <C>                  <C>                    <C>                       
    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
                  A1     118,502,748.94         400,613.84     118,102,135.10       0.9829737631
                  R1             100.00               0.00             100.00       1.0000000000
                  R2             100.00               0.00             100.00       1.0000000000
               TOTAL     118,502,948.94         400,613.84     118,102,335.10

                  A2      20,216,411.66         116,362.66      20,100,049.00       0.9535127609
               TOTAL      20,216,411.66         116,362.66      20,100,049.00

   VII. Principal to Certificateholders

    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
               TOTAL               0.00               0.00               0.00

                  B1       1,812,543.44          -3,116.58       1,815,660.02       0.9970675563
                  B2         728,000.00           2,134.81         725,865.19       0.9970675687
                  B3         728,000.00           2,134.81         725,865.19       0.9970675687
                  B4         437,000.00           1,281.47         435,718.53       0.9970675744
                  B5         291,000.00             853.34         290,146.66       0.9970675601
                  B6         364,312.54           1,068.32         363,244.22       0.9970675728
               TOTAL       4,360,855.98           4,356.17       4,356,499.81

  VIII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
                  A1     120,147,800.00         838,941.20           1,000.00     $ 6.9825764600
                  R1             100.00               0.71           1,000.00     $ 7.1000000000
                  R2             100.00               0.71           1,000.00     $ 7.1000000000
               TOTAL     120,148,000.00         838,942.62

                  A2      21,080,000.00         136,847.75           1,000.00     $ 6.4918287476
               TOTAL      21,080,000.00         136,847.75

    IX. Single Certificate Interest Distribution

    TRANCH_COMPONENT      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          12,748.73           1,000.00     $ 7.0009500274
                  B2         728,000.00           5,120.13           1,000.00     $ 7.0331456044
                  B3         728,000.00           5,120.13           1,000.00     $ 7.0331456044
                  B4         437,000.00           3,073.49           1,000.00     $ 7.0331578947
                  B5         291,000.00           2,046.65           1,000.00     $ 7.0331615120
                  B6         364,312.54           2,562.26           1,000.00     $ 7.0331369873
               TOTAL       4,369,312.54          30,671.39

                                        17
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Wed Jul 10, 1996  11:43 AM       SASC 1996-A       PAGE No. 003
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
Due Period :  3 Beginning Date     :  06/01/1996  End Date         :  06/30/1996
                Determination Date :  07/15/1996  Remittance Date  :  07/25/1996
 
     X. Single Certificate Principal Distribution
              <S>         <C>             <C>               <C>                  <C>                              
              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
                  A1     120,147,800.00         400,613.84           1,000.00     $ 3.3343418689
                  R1             100.00               0.00           1,000.00     $ 0.0000000000
                  R2             100.00               0.00           1,000.00     $ 0.0000000000
               TOTAL     120,148,000.00         400,613.84

                  A2      21,080,000.00         116,362.66           1,000.00     $ 5.5200502846
               TOTAL      21,080,000.00         116,362.66

    XI. Single Certificate Principal Distribution

    TRANCH_COMPONENT      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          -3,116.58           1,000.00     $-1.7114662273
                  B2         728,000.00           2,134.81           1,000.00     $ 2.9324313187
                  B3         728,000.00           2,134.81           1,000.00     $ 2.9324313187
                  B4         437,000.00           1,281.47           1,000.00     $ 2.9324256293
                  B5         291,000.00             853.34           1,000.00     $ 2.9324398625
                  B6         364,312.54           1,068.32           1,000.00     $ 2.9324271956
               TOTAL       4,369,312.54           4,356.17

   XII. Percentage Distribution

               CLASS Scheduled Percenta  Beginning Balance Prepayment Percent
                   A     96.9625727973%     118,502,948.94    100.0000000000%
              SUBORD      3.0374272027%       3,712,196.06      0.0000000000%

                   A     96.8911684893%      20,216,411.66    100.0000000000%
              SUBORD      3.1088315107%         648,659.92      0.0000000000%

  XIII. Servicing Fee

                 GRP             Amount
  MORTGAGE GROUP ONE          22,458.11
  MORTGAGE GROUP TWO           4,050.58
               TOTAL          26,508.69

   XIV. Delinquency Information for Due Period

    XV. Realized Losses

GRP            MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount               0.00               0.00
Total Amount                 0.00               0.00

   XVI. Book Value REO
                 GRP   Principal Amount
  MORTGAGE GROUP ONE               0.00
  MORTGAGE GROUP TWO               0.00

                                        18
</TABLE>
<PAGE>

Creation Date :  Wed Jul 10, 1996  11:43 AM       SASC 1996-A      PAGE No. 004
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  3 Beginning Date     :  06/01/1996  End Date        :  06/30/1996
                Determination Date :  07/15/1996  Remittance Date :  07/25/1996
 
 
  XVII. Covered Loss Amount Information

GROUP0                 POOL TOTAL
Special Hazard         728,000.00
Remaining Amt          728,000.00
Bankrupcy              100,000.00
Remaining Amt          100,000.00
Fraud Loss           1,455,973.00
Remaining Amt        1,455,973.00

 XVIII. Number of Loans

GRP                   MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number               1082                187
Loans Paid Off                         3                  0
Ending Loan Number                  1079                187

   XIX. Residual Payment

Amount               2.42               0.00

    XX. Mortgage Loan Substitutions

Deleted Loans                   0.00               0.00
Substituted Loans               0.00               0.00

                                      19

<PAGE>

                                 Exhibit 99.4

              Monthly Certificateholder Statement on August 25, 1996


                                      20
<PAGE>
<TABLE>
Creation Date :  Tue Aug 20, 1996  09:48 AM       SASC 1996-A       PAGE No. 001
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  4 Beginning Date     :  07/01/1996  End Date        :  07/31/1996
                Determination Date :  08/14/1996  Remittance Date :  08/26/1996
 
 
                 STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A

     I. Cash Received
<S>                 <C>                <C>                             <C>
GRP                  MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Scheduled Prin                77,816.41          65,822.15         143,638.56
Prepayment Prin               35,919.66          45,409.85          81,329.51
Payoff Prin                  263,329.28         361,107.27         624,436.55
Liquidation Proceeds               0.00               0.00               0.00
Insurance Proceeds                 0.00               0.00               0.00
Scheduled Int                862,349.60         140,431.38       1,002,780.98
TOTAL                      1,239,414.95         612,770.65       1,852,185.60

    II. Pool Balance

Beginning Balance     121,812,195.43      20,746,688.48     142,558,883.91
Scheduled Prin             77,816.41          65,822.15         143,638.56
Prepay Prin                35,919.66          45,409.85          81,329.51
Payoff Prin               263,329.28         361,107.27         624,436.55
Other                           0.00               0.00               0.00
Ending Balance        121,435,130.08      20,274,349.21     141,709,479.29

   III. Servicing Advances

GRP              MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Current Advances               0.00               0.00               0.00

    IV. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
                  A1     118,102,135.10        8.49518000%   $ 836,082.41       $ 0.00   $ 836,082.41
                  R1             100.00        8.49518000%         $ 0.71       $ 0.00         $ 0.71
                  R2             100.00        8.49518000%         $ 0.71       $ 0.00         $ 0.71
               TOTAL     118,102,335.10                      $ 836,083.83       $ 0.00   $ 836,083.83

                  A2      20,100,049.00        8.12263000%   $ 136,054.38       $ 0.00   $ 136,054.38
               TOTAL      20,100,049.00                      $ 136,054.38       $ 0.00   $ 136,054.38

     V. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
               TOTAL               0.00                            $ 0.00       $ 0.00         $ 0.00

                  B1       1,815,660.02        0.00000000%    $ 12,769.97       $ 0.00    $ 12,769.97
                  B2         725,865.19        0.00000000%     $ 5,105.18       $ 0.00     $ 5,105.18
                  B3         725,865.19        0.00000000%     $ 5,105.18       $ 0.00     $ 5,105.18
                  B4         435,718.53        0.00000000%     $ 3,064.51       $ 0.00     $ 3,064.51
                  B5         290,146.66        0.00000000%     $ 2,040.67       $ 0.00     $ 2,040.67
                  B6         363,244.22        0.00000000%     $ 2,554.78       $ 0.00     $ 2,554.78
               TOTAL       4,356,499.81                       $ 30,640.29       $ 0.00    $ 30,640.29


                                       21
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Tue Aug 20, 1996  09:48 AM       SASC 1996-A      PAGE No. 002
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  4 Beginning Date     :  07/01/1996  End Date        :  07/31/1996
                Determination Date :  08/14/1996  Remittance Date :  08/26/1996
 
 
    VI. Principal to Certificateholders
    <S>                    <C>          <C>                  <C>                    <C>                       
    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
                  A1     118,102,135.10         374,695.41     117,727,439.69       0.9798551425
                  R1             100.00               0.00             100.00       1.0000000000
                  R2             100.00               0.00             100.00       1.0000000000
               TOTAL     118,102,335.10         374,695.41     117,727,639.69

                  A2      20,100,049.00         470,287.70      19,629,761.30       0.9312030977
               TOTAL      20,100,049.00         470,287.70      19,629,761.30

   VII. Principal to Certificateholders

    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
               TOTAL               0.00               0.00               0.00

                  B1       1,815,660.02           1,842.74       1,813,817.28       0.9960556178
                  B2         725,865.19             736.70         725,128.49       0.9960556181
                  B3         725,865.19             736.70         725,128.49       0.9960556181
                  B4         435,718.53             442.22         435,276.31       0.9960556293
                  B5         290,146.66             294.48         289,852.18       0.9960556014
                  B6         363,244.22             368.67         362,875.55       0.9960556120
               TOTAL       4,356,499.81           4,421.51       4,352,078.30

  VIII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
                  A1     120,147,800.00         836,082.41           1,000.00     $ 6.9587825162
                  R1             100.00               0.71           1,000.00     $ 7.1000000000
                  R2             100.00               0.71           1,000.00     $ 7.1000000000
               TOTAL     120,148,000.00         836,083.83

                  A2      21,080,000.00         136,054.38           1,000.00     $ 6.4541925996
               TOTAL      21,080,000.00         136,054.38

    IX. Single Certificate Interest Distribution

    TRANCH_COMPONENT      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          12,769.97           1,000.00     $ 7.0126139484
                  B2         728,000.00           5,105.18           1,000.00     $ 7.0126098901
                  B3         728,000.00           5,105.18           1,000.00     $ 7.0126098901
                  B4         437,000.00           3,064.51           1,000.00     $ 7.0126086957
                  B5         291,000.00           2,040.67           1,000.00     $ 7.0126116838
                  B6         364,312.54           2,554.78           1,000.00     $ 7.0126051659
               TOTAL       4,369,312.54          30,640.29

                                        22       
</TABLE>
<PAGE>
<TABLE>
Creation Date :  Tue Aug 20, 1996  09:48 AM       SASC 1996-A       PAGE No. 003
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  4 Beginning Date     :  07/01/1996  End Date         :  07/31/1996
                Determination Date :  08/14/1996  Remittance Date  :  08/26/1996
 
 
     X. Single Certificate Principal Distribution
              <S>         <C>             <C>               <C>                  <C>                       
              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
                  A1     120,147,800.00         374,695.41           1,000.00     $ 3.1186206489
                  R1             100.00               0.00           1,000.00     $ 0.0000000000
                  R2             100.00               0.00           1,000.00     $ 0.0000000000
               TOTAL     120,148,000.00         374,695.41

                  A2      21,080,000.00         470,287.70           1,000.00    $ 22.3096631879
               TOTAL      21,080,000.00         470,287.70

    XI. Single Certificate Principal Distribution

    TRANCH_COMPONENT      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00           1,842.74           1,000.00     $ 1.0119384953
                  B2         728,000.00             736.70           1,000.00     $ 1.0119505495
                  B3         728,000.00             736.70           1,000.00     $ 1.0119505495
                  B4         437,000.00             442.22           1,000.00     $ 1.0119450801
                  B5         291,000.00             294.48           1,000.00     $ 1.0119587629
                  B6         364,312.54             368.67           1,000.00     $ 1.0119607741
               TOTAL       4,369,312.54           4,421.51

   XII. Percentage Distribution

               CLASS Scheduled Percenta  Beginning Balance Prepayment Percent
                   A     96.9544426017%     118,102,335.10    100.0000000000%
              SUBORD      3.0455573983%       3,709,860.33      0.0000000000%

                   A     96.8831677372%      20,100,049.00    100.0000000000%
              SUBORD      3.1168322628%         646,639.48      0.0000000000%

  XIII. Servicing Fee

                 GRP             Amount
  MORTGAGE GROUP ONE          27,721.15
  MORTGAGE GROUP TWO           4,936.16
               TOTAL          32,657.31

   XIV. Delinquency Information for Due Period

             PERIOD     Number  Principal Balance
             30 DAYS         36       4,537,989.61
             60 DAYS          6         396,656.03
            90+ DAYS          3         329,197.45
               TOTAL         45       5,263,843.09

                                       23
</TABLE>
<PAGE>


Creation Date :  Tue Aug 20, 1996  09:48 AM       SASC 1996-A      PAGE No. 004
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  4 Beginning Date     :  07/01/1996  End Date        :  07/31/1996
                Determination Date :  08/14/1996  Remittance Date :  08/26/1996
 
 
    XV. Realized Losses
 
GRP            MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount               0.00               0.00
Total Amount                 0.00               0.00
 
   XVI. Book Value REO
 
                 GRP   Principal Amount
  MORTGAGE GROUP ONE               0.00
  MORTGAGE GROUP TWO               0.00

  XVII. Covered Loss Amount Information

GROUP0                 POOL TOTAL
Special Hazard         728,000.00
Remaining Amt          728,000.00
Bankrupcy              100,000.00
Remaining Amt          100,000.00
Fraud Loss           1,455,973.00
Remaining Amt        1,455,973.00

 XVIII. Number of Loans

GRP                   MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number               1079                187
Loans Paid Off                         2                  3
Ending Loan Number                  1077                184

   XIX. Residual Payment

Amount               2.48               0.00

    XX. Mortgage Loan Substitutions

Deleted Loans                   0.00               0.00
Substituted Loans               0.00               0.00

                                      24

<PAGE>

                                 Exhibit 99.5

              Monthly Certificateholder Statement on September 25, 1996

                                      25

<PAGE>
<TABLE>
Creation Date : Wed Sep 18, 1996 01:55 PM SASC 1996-A             PAGE No. 001
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  5 Beginning Date     :  08/01/1996  End Date        :  08/31/1996
                Determination Date :  09/13/1996  Remittance Date :  09/25/1996
 
 
                 STRUCTURED ASSET SECURITIES CORPORATION, Series 1996-A

     I. Cash Received
<S>                 <C>                <C>                             <C>
GRP                  MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Scheduled Prin                78,488.85          65,510.38         143,999.23
Prepayment Prin               39,793.49         101,919.55         141,713.04
Payoff Prin                  604,713.18         210,700.27         815,413.45
Liquidation Proceeds               0.00               0.00               0.00
Insurance Proceeds                 0.00               0.00               0.00
Scheduled Int                859,682.51         137,287.25         996,969.76
TOTAL                      1,582,678.03         515,417.45       2,098,095.48

    II. Pool Balance

Beginning Balance     121,435,130.08      20,274,349.21     141,709,479.29
Scheduled Prin             78,488.85          65,510.38         143,999.23
Prepay Prin                39,793.49         101,919.55         141,713.04
Payoff Prin               604,713.18         210,700.27         815,413.45
Other                           0.00               0.00               0.00
Ending Balance        120,712,134.56      19,896,219.01     140,608,353.57

   III. Servicing Advances

GRP              MORTGAGE GROUP ONE MORTGAGE GROUP TWO              TOTAL
Current Advances               0.00               0.00               0.00

    IV. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
                  A1     117,727,439.69        8.49521000%   $ 833,432.77       $ 0.00   $ 833,432.77
                  R1             100.00        8.49521000%         $ 0.71       $ 0.00         $ 0.71
                  R2             100.00        8.49521000%         $ 0.71       $ 0.00         $ 0.71
               TOTAL     117,727,639.69                      $ 833,434.19       $ 0.00   $ 833,434.19

                  A2      19,629,761.30        8.12577000%   $ 132,922.44       $ 0.00   $ 132,922.44
               TOTAL      19,629,761.30                      $ 132,922.44       $ 0.00   $ 132,922.44

     V. Interest to Certificateholders

    TRANCH_COMPONENT       Beg. Balance               Rate   Schduled Int    Shortfall   Disbrsed Int
               TOTAL               0.00                            $ 0.00       $ 0.00         $ 0.00

                  B1       1,813,817.28        0.00000000%    $ 12,757.92       $ 0.00    $ 12,757.92
                  B2         725,128.49        0.00000000%     $ 5,100.37       $ 0.00     $ 5,100.37
                  B3         725,128.49        0.00000000%     $ 5,100.37       $ 0.00     $ 5,100.37
                  B4         435,276.31        0.00000000%     $ 3,061.62       $ 0.00     $ 3,061.62
                  B5         289,852.18        0.00000000%     $ 2,038.75       $ 0.00     $ 2,038.75
                  B6         362,875.55        0.00000000%     $ 2,552.38       $ 0.00     $ 2,552.38
               TOTAL       4,352,078.30                       $ 30,611.41       $ 0.00    $ 30,611.41

                                        26

</TABLE>
<PAGE>
<TABLE>
Creation Date :  Wed Sep 18, 1996  01:55 PM       SASC 1996-A       PAGE No. 002
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  5 Beginning Date     :  08/01/1996  End Date         :  08/31/1996
                Determination Date :  09/13/1996  Remittance Date  :  09/25/1996
 
 
    VI. Principal to Certificateholders
    <S>                    <C>          <C>                  <C>                    <C>        
    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
                  A1     117,727,439.69         720,599.21     117,006,840.48       0.9738575361
                  R1             100.00               0.00             100.00       1.0000000000
                  R2             100.00               0.00             100.00       1.0000000000
               TOTAL     117,727,639.69         720,599.21     117,007,040.48

                  A2      19,629,761.30         376,047.41      19,253,713.89       0.9133640365
               TOTAL      19,629,761.30         376,047.41      19,253,713.89

   VII. Principal to Certificateholders

    TRANCH_COMPONENT       Beg. Balance Schduled Principal   Ending Principal       Cert. Factor
               TOTAL               0.00               0.00               0.00

                  B1       1,813,817.28           1,866.74       1,811,950.54       0.9950304997
                  B2         725,128.49             746.30         724,382.19       0.9950304808
                  B3         725,128.49             746.30         724,382.19       0.9950304808
                  B4         435,276.31             447.98         434,828.33       0.9950305034
                  B5         289,852.18             298.32         289,553.86       0.9950304467
                  B6         362,875.55             373.46         362,502.09       0.9950305032
               TOTAL       4,352,078.30           4,479.10       4,347,599.20

  VIII. Single Certificate Interest Distribution

              TRANCH      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
                  A1     120,147,800.00         833,432.77           1,000.00     $ 6.9367293450
                  R1             100.00               0.71           1,000.00     $ 7.1000000000
                  R2             100.00               0.71           1,000.00     $ 7.1000000000
               TOTAL     120,148,000.00         833,434.19

                  A2      21,080,000.00         132,922.44           1,000.00     $ 6.3056185958
               TOTAL      21,080,000.00         132,922.44

    IX. Single Certificate Interest Distribution

    TRANCH_COMPONENT      Orig. Balance    Sched. Interest  Certificate Value   Int.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00          12,757.92           1,000.00     $ 7.0059967050
                  B2         728,000.00           5,100.37           1,000.00     $ 7.0060027473
                  B3         728,000.00           5,100.37           1,000.00     $ 7.0060027473
                  B4         437,000.00           3,061.62           1,000.00     $ 7.0059954233
                  B5         291,000.00           2,038.75           1,000.00     $ 7.0060137457
                  B6         364,312.54           2,552.38           1,000.00     $ 7.0060174157
               TOTAL       4,369,312.54          30,611.41

 
                                         27
</TABLE>  
<PAGE>
<TABLE>
Creation Date :  Wed Sep 18, 1996  01:55 PM       SASC 1996-A         PAGE No. 003
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
Due Period :  5 Beginning Date     :  08/01/1996  End Date           :  08/31/1996
                Determination Date :  09/13/1996  Remittance Date    :  09/25/1996
 
     X. Single Certificate Principal Distribution
              <S>         <C>             <C>               <C>                  <C>                              
              TRANCH      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
                  A1     120,147,800.00         720,599.21           1,000.00     $ 5.9976063648
                  R1             100.00               0.00           1,000.00     $ 0.0000000000
                  R2             100.00               0.00           1,000.00     $ 0.0000000000
               TOTAL     120,148,000.00         720,599.21

                  A2      21,080,000.00         376,047.41           1,000.00    $ 17.8390611954
               TOTAL      21,080,000.00         376,047.41

    XI. Single Certificate Principal Distribution

    TRANCH_COMPONENT      Orig. Balance   Sched. Principal  Certificate Value    Pr.Dist / Cert.
               TOTAL               0.00               0.00

                  B1       1,821,000.00           1,866.74           1,000.00     $ 1.0251180670
                  B2         728,000.00             746.30           1,000.00     $ 1.0251373626
                  B3         728,000.00             746.30           1,000.00     $ 1.0251373626
                  B4         437,000.00             447.98           1,000.00     $ 1.0251258581
                  B5         291,000.00             298.32           1,000.00     $ 1.0251546392
                  B6         364,312.54             373.46           1,000.00     $ 1.0251088255
               TOTAL       4,369,312.54           4,479.10

   XII. Percentage Distribution

               CLASS Scheduled Percenta  Beginning Balance Prepayment Percent
                   A     96.9469375233%     117,727,639.69    100.0000000000%
              SUBORD      3.0530624767%       3,707,490.39      0.0000000000%

                   A     96.8206727460%      19,629,761.30    100.0000000000%
              SUBORD      3.1793272540%         644,587.91      0.0000000000%

  XIII. Servicing Fee

                 GRP             Amount
  MORTGAGE GROUP ONE          26,454.13
  MORTGAGE GROUP TWO           4,424.33
               TOTAL          30,878.46

   XIV. Delinquency Information for Due Period

             PERIOD     Number  Principal Balance
             30 DAYS         39       4,715,451.23
             60 DAYS          7         731,346.92
            90+ DAYS          2         195,176.52
               TOTAL         48       5,641,974.67

           FORECLOSR          0               0.00
               TOTAL          0               0.00
                 REO          0               0.00
               TOTAL          0               0.00

                                     28
</TABLE>
<PAGE>

Creation Date :  Wed Sep 18, 1996  01:55 PM       SASC 1996-A      PAGE No. 004
 
                                   MONTHLY CERTIFICATE HOLDERS REPORT
                                   ----------------------------------
 
Due Period :  5 Beginning Date     :  08/01/1996  End Date        :  08/31/1996
                Determination Date :  09/13/1996  Remittance Date :  09/25/1996
 

    XV. Realized Losses
 
GRP            MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Current Amount               0.00               0.00
Total Amount                 0.00               0.00
 
   XVI. Book Value REO
 
                 GRP   Principal Amount
  MORTGAGE GROUP ONE               0.00
  MORTGAGE GROUP TWO               0.00
 
  XVII. Covered Loss Amount Information

GROUP0                 POOL TOTAL
Special Hazard         728,000.00
Remaining Amt          728,000.00
Bankrupcy              100,000.00
Remaining Amt          100,000.00
Fraud Loss           1,455,973.00
Remaining Amt        1,455,973.00

 XVIII. Number of Loans

GRP                   MORTGAGE GROUP ONE MORTGAGE GROUP TWO
Beginning Loan Number               1077                184
Loans Paid Off                         6                  2
Ending Loan Number                  1071                182

   XIX. Residual Payment

Amount               1.72               0.00

    XX. Mortgage Loan Substitutions

Deleted Loans                   0.00               0.00
Substituted Loans               0.00               0.00

                                       29