================================================================================

                       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) May 20, 1999

                    Structured Asset Securities Corporation
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

Delaware                            333-49129               74-2440858
--------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission             (IRS Employer
of Incorporation)                   File Number)            Identification No.)

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

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

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

================================================================================

<PAGE>

Item 5. Other Events.

      It is expected that during June 1999, a single series of certificates,
entitled LB Commercial Mortgage Trust 1999-C1, Commercial Mortgage Pass-Through
Certificates, Series 1999-C1 (the "Certificates"), will be issued pursuant to a
pooling and servicing agreement (the "Pooling and Servicing Agreement"), to be
entered into by and among Structured Asset Securities Corporation (the
"Registrant") and a master servicer, a special servicer and a trustee. Certain
classes of the Certificates (the "Underwritten Certificates") will be registered
under the Registrant's registration statement on Form S-3 (no. 333-49129) and
sold to Lehman Brothers Inc. ("Lehman Brothers") and Merrill Lynch, Pierce,
Fenner & Smith Incorporated ("Merrill"; and Merrill, together with Lehman
Brothers, the "Underwriters") pursuant to an underwriting arrangement between
the Registrant and the Underwriters.

      In connection with the expected sale of the Underwritten Certificates, the
Registrant has been advised that prospective investors have been furnished with
certain materials attached hereto as Exhibit 99.1 that constitute "Computational
Materials" (as defined in the no-action letter dated May 20, 1994 issued by the
Division of Corporation Finance of the Securities and Exchange Commission (the
"Commission") to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated, and Kidder Structured Asset Corporation and the no-action letter
dated May 27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association) and/or "ABS Term Sheets" (as
defined in the no-action letter dated February 17, 1995 issued by the Division
of Corporation Finance of the Commission to the Public Securities Association).

      The materials attached hereto have been prepared and provided to the
Registrant with respect to the Underwritten Certificates. The information in
such materials is preliminary and will be superseded by the final Prospectus
Supplement relating to the Underwritten Certificates and by any other similar
information subsequently filed with the Commission. To the extent any materials
previously filed by the Registrant with respect to the Underwritten Certificates
are inconsistent with the materials attached hereto, such previously filed
materials are superseded by the materials attached hereto.

Item 7. Financial Statements and Exhibits.

(a) Financial statements of businesses acquired:

      Not applicable.

(b) Pro forma financial information:

      Not applicable.


                                      -2-
<PAGE>

(c) Exhibits:

Exhibit No.  Description

99.1         Certain materials constituting Computational Materials and/or ABS
             Term Sheets, dated May 20, 1999, prepared and disseminated in
             connection with the expected sale of the Underwritten Certificates.


                                      -3-
<PAGE>

                                   SIGNATURES

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

Date:  May 20, 1999


                                    STRUCTURED ASSET SECURITIES CORPORATION


                                    By:  /S/ James Blakemore
                                         ---------------------------------------
                                         Name: James Blakemore
                                         Title: Vice President

<PAGE>

                                  EXHIBIT INDEX


            The following exhibits are filed herewith:

Exhibit No.                                                           Page No.
-----------                                                           --------

99.1        Certain materials constituting Computational Materials
            and/or ABS Term Sheets, dated May 20, 1999, in connection
            with the expected sale of the Underwritten Certificates.


                                       -5-
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{"company-data": {"conformed-name": "COMMERCIAL MORTGAGE PASS THRU CERT SERIES 1999 C1", "cik": "0001086409", "assigned-sic": "6189", "irs-number": "742440858", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-49129-02", "film-number": "99633225"}, "business-address": {"street1": "200 VESEY ST 20TH FLR", "city": "NEW YORK", "state": "NY", "zip": "10285", "phone": "2125265594"}, "mail-address": {"street1": "200 VESEY STREET", "street2": "24TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10285"}}
================================================================================

                       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) May 20, 1999

                    Structured Asset Securities Corporation
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

Delaware                            333-49129               74-2440858
--------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission             (IRS Employer
of Incorporation)                   File Number)            Identification No.)

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

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

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

================================================================================
Item 5. Other Events.

      It is expected that during June 1999, a single series of certificates,
entitled LB Commercial Mortgage Trust 1999-C1, Commercial Mortgage Pass-Through
Certificates, Series 1999-C1 (the "Certificates"), will be issued pursuant to a
pooling and servicing agreement (the "Pooling and Servicing Agreement"), to be
entered into by and among Structured Asset Securities Corporation (the
"Registrant") and a master servicer, a special servicer and a trustee. Certain
classes of the Certificates (the "Underwritten Certificates") will be registered
under the Registrant's registration statement on Form S-3 (no. 333-49129) and
sold to Lehman Brothers Inc. ("Lehman Brothers") and Merrill Lynch, Pierce,
Fenner & Smith Incorporated ("Merrill"; and Merrill, together with Lehman
Brothers, the "Underwriters") pursuant to an underwriting arrangement between
the Registrant and the Underwriters.

      In connection with the expected sale of the Underwritten Certificates, the
Registrant has been advised that prospective investors have been furnished with
certain materials attached hereto as Exhibit 99.1 that constitute "Computational
Materials" (as defined in the no-action letter dated May 20, 1994 issued by the
Division of Corporation Finance of the Securities and Exchange Commission (the
"Commission") to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated, and Kidder Structured Asset Corporation and the no-action letter
dated May 27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association) and/or "ABS Term Sheets" (as
defined in the no-action letter dated February 17, 1995 issued by the Division
of Corporation Finance of the Commission to the Public Securities Association).

      The materials attached hereto have been prepared and provided to the
Registrant with respect to the Underwritten Certificates. The information in
such materials is preliminary and will be superseded by the final Prospectus
Supplement relating to the Underwritten Certificates and by any other similar
information subsequently filed with the Commission. To the extent any materials
previously filed by the Registrant with respect to the Underwritten Certificates
are inconsistent with the materials attached hereto, such previously filed
materials are superseded by the materials attached hereto.

Item 7. Financial Statements and Exhibits.

(a) Financial statements of businesses acquired:

      Not applicable.

(b) Pro forma financial information:

      Not applicable.

                                      -2-
(c) Exhibits:

Exhibit No.  Description

99.1         Certain materials constituting Computational Materials and/or ABS
             Term Sheets, dated May 20, 1999, prepared and disseminated in
             connection with the expected sale of the Underwritten Certificates.

                                      -3-
SIGNATURES

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

Date:  May 20, 1999

                                    STRUCTURED ASSET SECURITIES CORPORATION

                                    By:  /S/ James Blakemore
                                         ---------------------------------------
                                         Name: James Blakemore
                                         Title: Vice President
EXHIBIT INDEX

            The following exhibits are filed herewith:

Exhibit No.                                                           Page No.
-----------                                                           --------

99.1        Certain materials constituting Computational Materials
            and/or ABS Term Sheets, dated May 20, 1999, in connection
            with the expected sale of the Underwritten Certificates.

                                       -5-