Structured Adjustable Rate Mortgage Loan Trust 2005-3XS
Not applicable.
Not applicable.
Not applicable.
Not applicable.
The registrant knows of no material pending legal proceedings         involving the trust created under the Trust Agreement (the Trust),         the Trustee, the Master Servicer or the registrant with the respect         to the Trust other than routine litigation incidental to the duties         of the respective parties.
None.                                      PART II
No established public trading market for the Certificate exists.          Records provided to the Trust by the DTC and the Trustee indicate         That as of December 31, 2005, the total number of holders of record         for the series of certificates is 23.
Not applicable.
Not applicable,
Not applicable.
Not applicable.
None.
Not applicable.
1.   The Master Servicer has identified that during the first three          reporting cycles of the transaction, delinquencies may be          underreported as a result of the fact that certain unaffiliated          underlying servicers have reported to the master servicer actual due          dates as the initial due date of the transaction rather than the          contractual due date of the loan.                                       PART III
Not applicable
Not applicable.
Not applicable.
Not applicable.
Not applicable.                                      PART IV
(a) Exhibits      1     Annual Independent Accountant's Servicing Report ("USAP")           for the year ended November 30, 2005           Aurora Loan Services LLC,           as Servicer and accompanying Report of Management as to           compliance with minimum servicing standards      2     Annual Independent Accountant's Servicing Report ("USAP")           for the year ended December 31, 2005           Colonial Savings, F.A., as Servicer and           accompanying Report of Management as to compliance           with minimum servicing standards      3     Annual Independent Accountant's Servicing Report ("USAP")           for the year ended December 31, 2005           Option One Mortgage Corporation, as Servicer and           accompanying Report of Management as to compliance           with minimum servicing standards      4     Annual Independent Accountant's Servicing Report ("USAP")           for the year ended December 31, 2005           Wells Fargo Bank, N.A., as Servicer and           accompanying Report of Management as to compliance           with minimum servicing standards      5     Annual Statement of Compliance           for the year ended December 31, 2005           Aurora Loan Services LLC, as Master Servicer      7     Aggregate Statement of Principal and Interest Distributions           to Certificate Holders for the year ended December 31, 2005  (b) Not applicable.  (c) Omitted.                                     SIGNATURES    Pursuant to the requirements of Section 13 or 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     (Registrant)     Signed: Aurora Loan Services LLC as Master Servicer    By:     E. Todd Whittemore, Executive Vice President    By: /s/ E. Todd Whittemore, Executive Vice President    Dated:  March 30, 2006                                  Certification    I, E. Todd Whittemore, certify that:    1. I have reviewed this annual report on Form 10-K, and all reports on      Form 8-K containing distribution or servicing reports filed in      respect of periods included in the year covered by this annual report,      of Structured Adjustable Rate Mortgage Trust, Mortgage Pass-Through      Certificates Series 2005-3XS Trust;    2. Based on my knowledge, the information in these reports, taken as a      whole, does not contain any untrue statement of a material fact or      omit to state a material fact necessary to make the statements made,      in light of the circumstances under which such statements were made,      not misleading as of the last day of the period covered by this      annual report;    3. Based on my knowledge, the distribution or servicing information      required to be provided to the trustee by the master servicer under the      Pooling and Servicing or similar, agreement, for inclusion in these      reports is included in these reports;    4. I am responsible for reviewing the activities performed by the master      servicer under the pooling and servicing, or similar, agreement, and      based on upon my knowledge and the annual compliance review required      under that agreement, and except as disclosed in the reports, the      master servicer has fulfilled its obligations under that agreement;      and    5. The reports disclose all significant deficiencies relating to the      servicer's compliance with the minimum servicing standards based upon      the report provided by an independent public accountant, after      conducting a review in compliance with the Uniform Single Attestation      Program for Mortgage Bankers or similar procedure, as set forth in      the pooling and servicing, or similar, agreement, that is included in      these reports.       In giving the certifications above, I have reasonably relied on      information provided to me by the following unaffiliated parties:      Citibank, N.A., as trustee; Colonial Savings, F.A., as servicer;      Option One Mortgage Corporation, as servicer; Wells Fargo Bank, N.A.,      Inc., as servicer.       Date: March 30, 2006       /s/ E. Todd Whittemore      Signature       Executive Vice President      Title     EX-1 2 ex01.txt EXHIBIT 1  Ernst & Young LLP                                       Phone: (720) 931-4000 Suite 3300                                              Fax:   (720) 931-4444 370 17th Street                                         www.ey.com Denver, Colorado 80202-5663                         Report on Management's Assertion on   Compliance With the Specified Minimum Servicing Standards Set Forth in the              Uniform Single Attestation Program for Mortgage Bankers               Report of Independent Registered Public Accounting Firm  Member Aurora Loan Services LLC  We have examined management's assertion, included in the accompanying report titled Report of Management, that Aurora Loan Services LLC (the Company) complied with the servicing standards identified in Exhibit A (the specified minimum servicing standards) to the Report of Management as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) during the year ended November 30, 2005. Management is responsible for the Company's compliance with these specified minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.  Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the specified minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the specified minimum servicing standards.  In our opinion, management's assertion that the Company complied with the aforementioned specified minimum servicing standards during the year ended November 30, 2005, is fairly stated, in all material respects.  /s/ Ernst & Young LLP Ernst & Young LLP  February 17, 2006   AURORA LOAN SERVICES A Lehman Brothers Company                     Management's Assertion on Compliance            with the Specified Minimum Servicing Standards Set Forth         in the Uniform Single Attestation Program for Mortgage Bankers                                Report of Management  We, as members of management of Aurora Loan Services LLC (the "Company"), are responsible for complying with the servicing standards identified in the attached Exhibit A (the "specified minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). We are also responsible for establishing and maintaining effective internal control over compliance with these specified minimum servicing standards. We have performed an evaluation of the Company's compliance with the specified minimum servicing standards as of November 30, 2005 and for the year then ended. Based on this evaluation, we assert that during the year ended November 30, 2005, the Company complied, in all material respects, with the specified minimum servicing standards.  As of November 30, 2005 and for the year then ended, the Company had in effect a fidelity bond in the amount of $110,000,000 and an errors and omissions policy in the amount of $150,000,000.   Very truly yours,  /s/ Rick Skogg Rick Skogg Co-Chief Operating Officer  /s/ Roy Browning Roy Browning Chief Financial Officer  /s/ William Napier William Napier Controller   February 17, 2006    AURORA LOAN SERVICES A Lehman Brothers Company Exhibit A                       Specified Minimum Servicing Standards  I.   Custodial Bank Accounts       1.  Reconciliations shall be prepared on a monthly basis for all          custodial bank accounts and related bank clearing accounts. These          reconciliations shall:           a.  be mathematically accurate;           b.  be prepared within forty-five (45) calendar days after the              cutoff date.  The cutoff date is the date as of which a bank              account is reconciled every month. It may, or may not, coincide              with a prescribed investor reporting date but shall be              consistent from period to period;           c.  be reviewed and approved by someone other than the person who              prepared the reconciliation; and           d.  document explanations for reconciling items. These reconciling              items shall be resolved within ninety (90) calendar days of              their original identification.       2.  Funds of the servicing entity shall be advanced in cases where there          is an overdraft in an investor's or a mortgagor's account.       3.  Each custodial account shall be maintained at a federally insured          depository institution in trust for the applicable investor.       4.  Escrow funds held in trust for a mortgagor shall be returned to the          mortgagor within thirty (30) calendar days of payoff of the mortgage          loan.  II.  Mortgage Payments       1.  Mortgage payments shall be deposited into the custodial bank          accounts and related bank clearing accounts within two (2) business          days of receipt.       2.  Mortgage payments made in accordance with the mortgagor's loan          documents shall be posted to the applicable mortgagor records within          two (2) business days of receipt.       3.  Mortgage payments shall be allocated to principal, interest,          insurance, taxes or other escrow items in accordance with the          mortgagor's loan documents.       4.  Mortgage payments identified as loan payoffs shall be allocated in          accordance with the mortgagor's loan documents.  III. Disbursements       1.  Disbursements made via wire transfer on behalf of a mortgagor or          investor shall be made only by authorized personnel.       2.  Disbursements made on behalf of a mortgagor or investor shall be          posted within two (2) business days to the mortgagor's or investor's          records maintained by the servicing entity.       3.  Tax and insurance payments shall be made on or before the penalty          or insurance policy expiration dates, as indicated on tax bills and          insurance premium notices, respectively, provided that such support          has been received by the servicing entity at least thirty (30)          calendar days prior to these dates.       4.  Any late payment penalties paid in conjunction with the payment of          any tax bill or insurance premium notice shall be paid from the          servicing entity's funds and not charged to the mortgagor, unless          the late payment was due to the mortgagor's error or omission.       5.  Amounts remitted to investors per the servicer's investor reports          shall agree with cancelled checks, or other form of payment, or          custodial bank statements.       6.  Unissued checks shall be safeguarded so as to prevent unauthorized          access.  IV.  Investor Accounting and Reporting       1.  The servicing entity's investor reports shall agree with, or          reconcile to, investors' records on a monthly basis as to the total          unpaid principal balance and number of loans serviced by the servicing          entity.  V.   Mortgagor Loan Accounting       1.  The servicing entity's mortgage loan records shall agree with, or          reconcile to, the records of mortgagors with respect to the unpaid          principal balance on a monthly basis.       2.  Adjustments on adjustable rate mortgage (ARM) loans shall be          computed based on the related mortgage note and any ARM rider.       3.  Escrow accounts shall be analyzed, in accordance with the          mortgagor's loan documents, on at least an annual basis.       4.  Interest on escrow accounts shall be paid, or credited, to          mortgagors in accordance with the applicable state laws.  VI.  Delinquencies       1.  Records documenting collection efforts shall be maintained during          the period a loan is in default and shall be updated at least          monthly.  Such records shall describe the entity's activities in          monitoring delinquent loans including, for example, phone calls,          letters and mortgage payment rescheduling plans in cases where the          delinquency is deemed temporary (i.e., illness or unemployment).  VII. Insurance Policies       1. A fidelity bond and errors and omissions policy shall be in effect on         the servicing entity throughout the reporting period in the amount of         coverage represented to investors in management's assertion.                 10350 Park Meadows Drive, Littleton, CO. 80124    EX-2 3 ex02.txt EXHIBIT 2                       PAYNE FALKNER SMITH & JONES, P. C.                        Certified Public Accountants      Report of Independent Auditors on Compliance with Requirements of the Uniform                 Single Attestation Program for Mortgage Bankers   Board of Directors and Stockholder of Colonial Savings, F.A.  We have examined management's assertion about Colonial Savings, F.A. ("Colonial") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended September 30, 2005, included in the accompanying management's assertion about Colonial's compliance based on our examination.  Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Colonial's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Colonial's compliance with the minimum servicing standards.  In our opinion, management's assertion that Colonial complied with the aforementioned minimum servicing standards as of and for the year ended September 30, 2005, is fairly stated, in all material respects.   /s/ Payne Falkner Smith & Jones, P.C. Payne Falkner Smith & Jones, P.C.  November 28, 2005                 COLONIAL SAVINGS             Management's Assertion Concerning Compliance with                    USAP Minimum Servicing Standards   November 28, 2005   As of and for the year ended September 30, 2005, Colonial Savings, F.A. has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of .America's Uniform Single Attestation Program for Mortgage Bankers.  As of and for this same period, Colonial Savings, F.A. had in effect a fidelity-bond and errors and omissions policy in the amount of $11,000,000.    /s/ Jim E. DuBose Jim E. DuBose President, Chief Executive Officer    /s/ Ben Dempsey Ben Dempsey Executive Vice President         2626A WEST FREEWAY, FORT WORTH, TEXAS 76102 OFFICE: 817-390-0000                            www.colonialsavings.com    EX-3 4 ex03.txt EXHIBIT 3  KPMG LLP Suite 2000 355 South Grand Avenue Los Angeles, CA 90071-1568                              Independent Accountants' Report   The Board of Directors and Stockholder Option One Mortgage Corporation:  We have examined management's assertion, included in the accompanying management assertion, that Option One Mortgage Corporation complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 2005. Management is responsible for Option One Mortgage Corporation's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.  Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, including examining, on a test basis, evidence about Option One Mortgage Corporation's compliance with the minimum servicing standards specified above and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Option One Mortgage Corporation's compliance with the minimum servicing standards.  In our opinion, management's assertion that Option One Mortgage Corporation complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005 is fairly stated in all material respects.   /s/ KPMG LLP KPMG LLP  Los Angeles, California February 28, 2006            KPMG LLP, a U.S. limited liability partnership, is the U.S.           member firm of KPMG International, a Swiss cooperative.           OPTION ONE MORTGAGE An H&R Block Company                             Management Assertion   As of and for the year ended December 31, 2005, Option One Mortgage Corporation Complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of and for this same period, Option One Mortgage Corporation had in effect a fidelity bond and errors and omissions policy in the amounts of $70,000,000 and $10,000,000, respectively.   /s/ Robert E. Dubrish Robert E. Dubrish, Chief Executive Officer   /s/ William L O'Neill William L. O'Neill Chief Financial Officer   /s/ Matthew A. Engel Matthew A. Engel Controller   /s/ Fabiola Camperi Fabiola Camperi Chief Servicing Officer    EX-4 5 ex04.txt EXHIBIT 4  KPMG LLP 2500 Ruan Center 666 Grand Avenue Des Moines, IA 50309                      Independent Accountants' Report  The Board of Directors Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.:   We have examined management's assertion, included in the accompanying Assertion of Management of Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. (the Company) that the Company complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 2005. Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.  Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards specified above and performing such other procedures, as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.  In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005 is fairly stated, in all material respects.  /s/ KPMG LLP - ------------- KPMG LLP   February 21, 2006          KPMG LLP, a U.S. limited liability partnership, is the U.S.            member firm of KPMG International, a Swiss cooperative.                   WELLS                                                   1 Home Campus FARGO                                                   Des Moines, IA 50328            Assertion of Management of Wells Fargo Home Mortgage,                 a division of Wells Fargo Bank, N.A.   As of and for the year ended December 31, 2005, Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A. (the Company) has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers.  As of and for this same period, the Company had in effect a fidelity bond along with an errors and omissions policy in the amounts of $100 million and $20 million, respectively.   /s/ Michael J. Heid                              February 21, 2006 - --------------------- Michael J. Heid Division President, Capital Markets, Finance, & Administration Wells Fargo Home Mortgage, a division of Wells Fargo, N.A.  /s/ Frank R. Codel                               February 21, 2006 - --------------------- Frank R. Codel Executive Vice President, Finance and Corporate Real Estate Well& Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.  /s/ Mary Coffin                                  February 21, 2006 - --------------------- Mary Coffin Executive Vice President, Servicing and Post Closing Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A.   /s/Cara K. Heiden                                February 21, 2006 - --------------------- Cara K. Heiden Division President, Nat'l Consumer & Institutional Lending Wells Fargo Home Mortgage, a, division of Wells Fargo Bank, N.A.    EX-5 6 ex05.txt EXHIBIT 5  AURORA LOAN SERVICES A Lehman Brothers Company  Via UPS  February 23, 2006 Karen Schluter Citibank, NA 11l Wall Street, l4th Floor/Zone 3 New York, NY 10005  RE:SASCO 2005 - 3XS Annual Officer's Certificate as to Compliance  Dear Ms. Schluter:  The undersigned Officer certifies the following for the period ending on December 31, 2005:  1.     I have reviewed the activities and performance of the Master Servicer during the preceding calendar year under the terms of the Trust Agreements and to the best of this Officer's knowledge, the Master Servicer has fulfilled all of its duties, responsibilities or obligations under the Agreements;  2.     Based on said review and to the best of this Officer's knowledge, the Master Servicer is not in default of its obligations under the terms of the Trust Agreements in any material respect, or, if there is a default in the fulfillment of its obligations, a description of each default or failure and the nature and status thereof has been reported to this Officer;  3.     To the best of this Officer's knowledge, nothing has arose to lead this Officer to believe that its Servicer has failed to perform any of its duties, responsibilities and obligations under its Servicing Agreement during the preceding calendar year;  4.     To the best of this Officer's knowledge, the Servicer is not in default of its obligations under the terms of its Servicing Agreement in any material respect, or, if there is a default in the fulfillment of its obligations, a description of each default or failure and the nature and status thereof has been reported to this Officer;  5.     The Master Servicer has received from its Servicer such Servicer's annual certificate of compliance and a copy of such Servicer's annual audit report, in each case to the extent required under the applicable Servicing Agreement, or, if any such certificate or report has not been received by the Master Servicer, the Master Servicer is using its best reasonable efforts to obtain such certificate or report.   Certified By:  /s/ R. Peter Karr - ------------------ R. Peter Karr Senior Vice President Master Servicing Division    EX-7 7 ex07.htm EXHIBIT 7     sasc0503xsp&i.pdf -- Converted by SECPublisher 4.0, created by BCL Technologies Inc., for SEC Filing       Structured       Adjustable Rate Mortgage Loan Trust                       Mortgage       Pass-Through Certificates, Series 2005-3XS                   Schedule of       Year-To-Date Principal and Interest Distributions to Certificateholders       for 2005            Class      Interest      Principal      Realized      Ending          Distribution      Paid      Losses      Balance    A1      2,523,860.39      114,001,503.50      0.00        20,255,496.50    A2      3,893,271.56      0.00      0.00        116,153,000.00    A3      1,306,459.39      0.00      0.00        37,717,000.00    M1      582,580.97      0.00      0.00        16,464,000.00    M2      272,030.95      0.00      0.00        7,124,000.00    M3      164,566.89      0.00      0.00        3,799,000.00    P      816,630.26      0.00      0.00        100.00    R      0.00      0.00      0.00        0.00    X      9,324,969.36      0.00      0.00        1,108,099.60         -----END PRIVACY-ENHANCED MESSAGE-----