<PAGE>
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) June 29, 2000
Saxon Asset Securities Company
--------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
<TABLE>
<S> <C> <C>
Virginia 34-0-20552 54-1810895
------------------------------------ ---------------------------- ------------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
</TABLE>
4880 Cox Road, Glen Allen, Virginia 23060
-----------------------------------------
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code (804) 967-7400
--------------
________________________________________________________________________________
(Former name or former address, if changed since last report.)
<PAGE>
Item 1. Changes in Control of Registrant. Not Applicable.
Item 2. Acquisition or Disposition of Assets. Not Applicable.
Item 3. Bankruptcy or Receivership. Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant. Not Applicable.
Item 5. Other Events.
On June 29, 2000, the Registrant acquired a pool of mortgage loans (the
"Subsequent Mortgage Loans") from funds on hand in the pre-funding account
pursuant to the Trust Agreement dated as of June 1, 2000, among the Registrant,
Saxon Mortgage, Inc., as Master Servicer, and Bankers Trust Company, as Trustee
(the "Trust Agreement"). The Subsequent Mortgage Loans were acquired by the
Registrant from Saxon Mortgage, Inc. ("SMI"), an affiliate of the Registrant
which originated or acquired the Subsequent Mortgage Loans from various mortgage
banking institutions. The Subsequent Mortgage Loans are secured by liens on
single family residential properties, including investment properties (which may
be condominiums, one family residences, one to four family residences or homes
in planned unit developments). The Subsequent Mortgage Loans will be serviced
by Meritech Mortgage Services, Inc., an affiliate of the Registrant.
The description of the Subsequent Mortgage Loans sold to the Trustee as
of June 29, 2000, pursuant to the Trust Agreement begins on the following page.
The amounts contained in the following tables have been rounded to the nearest
dollar amount and percentage, as applicable.
<PAGE>
Bank of America Securities LLC
Current Balance
Sast 2000-2
Fixed Rate Mortgage Loan Group
-------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Principal Balance ($) Loans the Cut Off Date the Cut Off Date
-------------------------------------------------------------------------------
0.01 - 25,000.00 255 $ 5,324,703.82 1.12%
25,000.01 - 50,000.00 1,394 53,995,703.80 11.36
50,000.01 - 75,000.00 1,449 89,202,303.82 18.76
75,000.01 - 100,000.00 869 75,502,149.34 15.88
100,000.01 - 150,000.00 890 107,560,881.96 22.62
150,000.01 - 200,000.00 319 55,157,556.70 11.60
200,000.01 - 250,000.00 137 30,604,204.20 6.44
250,000.01 - 300,000.00 74 20,229,736.15 4.25
300,000.01 - 350,000.00 39 12,626,141.05 2.66
350,000.01 - 400,000.00 28 10,440,079.70 2.20
400,000.01 - 450,000.00 20 8,475,649.53 1.78
450,000.01 - 500,000.00 11 5,305,217.64 1.12
500,000.01 - 550,000.00 2 1,031,853.89 0.22
-------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
===============================================================================
<PAGE>
Bank of America Securities LLC
Interest Rates
Sast 2000-2
Fixed Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Current Loan Rate (%) Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
6.51 - 7.00 2 $ 375,427.94 0.08%
7.01 - 7.50 6 471,465.87 0.10
7.51 - 7.75 17 1,938,842.55 0.41
7.76 - 8.00 46 6,015,849.99 1.27
8.01 - 8.25 43 5,474,654.48 1.15
8.26 - 8.50 84 9,735,274.66 2.05
8.51 - 8.75 100 9,872,958.09 2.08
8.76 - 9.00 174 20,338,536.57 4.28
9.01 - 9.25 164 16,052,828.84 3.38
9.26 - 9.50 277 29,808,967.51 6.27
9.51 - 9.75 310 32,153,261.66 6.76
9.76 - 10.00 455 41,197,218.48 8.66
10.01 - 10.25 272 25,244,666.32 5.31
10.26 - 10.50 383 34,792,756.77 7.32
10.51 - 10.75 391 35,295,462.68 7.42
10.76 - 11.00 460 41,127,392.32 8.65
11.01 - 11.25 273 23,587,580.07 4.96
11.26 - 11.50 338 26,556,190.68 5.59
11.51 - 11.75 281 22,560,558.98 4.75
11.76 - 12.00 309 22,512,386.06 4.73
12.01 - 12.25 202 15,286,976.76 3.22
12.26 - 12.50 214 14,246,861.67 3.00
12.51 - 12.75 160 10,443,865.62 2.20
12.76 - 13.00 160 10,131,828.66 2.13
13.01 - 13.25 100 5,643,967.10 1.19
13.26 - 13.50 76 4,159,658.67 0.89
13.51 - 13.75 56 3,017,378.58 0.63
13.76 - 14.00 58 3,614,991.50 0.76
14.01 - 14.25 23 1,248,133.94 0.26
14.26 - 14.50 19 921,344.32 0.19
14.51 - 14.75 20 1,050,634.10 0.22
14.76 - 15.00 9 429,192.43 0.09
15.01 - 15.25 2 63,411.13 0.01
15.26 - 15.50 1 30,400.00 0.01
15.51 - 15.75 1 34,991.29 0.01
15.76 - 16.00 1 20,265.31 0.00
--------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Combined Original LTV
Sast 2000-2
Fixed Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Original LTV Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
5.001 - 10.000 2 $ 74,905.74 0.02%
10.001 - 15.000 1 34,385.38 0.01
15.001 - 20.000 9 318,498.42 0.07
20.001 - 25.000 26 1,029,636.41 0.22
25.001 - 30.000 29 1,232,684.14 0.26
30.001 - 35.000 50 2,490,614.36 0.52
35.001 - 40.000 62 3,517,503.52 0.74
40.001 - 45.000 59 3,308,016.86 0.70
45.001 - 50.000 144 8,748,674.13 1.84
50.001 - 55.000 142 9,059,097.93 1.91
55.001 - 60.000 202 14,740,187.44 3.10
60.001 - 65.000 320 24,639,588.59 5.18
65.001 - 70.000 511 41,526,702.49 8.73
70.001 - 75.000 673 59,041,897.13 12.42
75.001 - 80.000 1,415 129,215,253.27 27.18
80.001 - 85.000 757 70,813,489.99 14.89
85.001 - 90.000 989 97,444,163.23 20.49
90.001 - 95.000 74 7,453,028.29 1.57
95.001 - 100.000 22 767,854.28 0.16
--------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Remaining Amortization Term
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
======================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Remaining Term (months) Loans the Cut Off Date the Cut Off Date
=======================================================================================================
<S> <C> <C> <C>
49 - 60 11 $ 305,522.80 0.06%
97 - 108 2 37,937.89 0.01
109 - 120 69 2,359,599.33 0.50
121 - 132 1 19,806.13 0.00
133 - 144 22 995,264.88 0.21
157 - 168 5 146,570.60 0.03
169 - 180 680 38,969,208.89 8.20
193 - 204 1 87,741.55 0.02
217 - 228 1 126,862.18 0.03
229 - 240 154 8,835,157.19 1.86
289 - 300 10 540,092.96 0.11
301 - 312 1 20,539.23 0.00
313 - 324 5 747,497.29 0.16
325 - 336 6 390,344.90 0.08
337 - 348 38 2,820,427.06 0.59
349 - 360 4,481 419,053,608.72 88.14
---------------------------------------------------------------------------------------------------------
TOTAL 5,487 $ 475,456,181.60 100.00%
=========================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Occupancy
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
====================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Stated Occupancy Status Loans the Cut Off Date the Cut Off Date
====================================================================================================
<S> <C> <C> <C>
Primary Home 4,993 $443,348,998.41 93.25%
Investor 453 28,309,960.94 5.95
Second Home 41 3,797,222.25 0.80
----------------------------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
====================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Documentation
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Documentation Loans the Cut Off Date the Cut Off Date
================================================================================================
<S> <C> <C> <C>
Full Documentation 4,529 $ 373,604,610.77 78.58%
Limited Documentation 244 31,892,576.90 6.71
Stated Documentation 661 66,454,511.13 13.98
No Ratio 53 3,504,482.80 0.74
------------------------------------------------------------------------------------------------
TOTAL 5,487 $ 475,456,181.60 100.00%
================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Purpose
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
=================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Purpose Loans the Cut Off Date the Cut Off Date
=================================================================================================
<S> <C> <C> <C>
Refinance(no cash out) 534 $ 54,717,393.92 11.51%
Refinance(cash out) 3,761 306,787,206.63 64.52
Purchase 1,192 113,951,581.05 23.97
-------------------------------------------------------------------------------------------------
TOTAL 5,487 $ 475,456,181.60 100.00%
=================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Property Type
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
==================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Property Type Loans the Cut Off Date the Cut Off Date
==================================================================================================
<S> <C> <C> <C>
2-4 Family 281 $ 25,885,815.23 5.44%
Deminimus PUD 5 782,023.73 0.16
High Rise Condo 30 3,282,257.70 0.69
Low Rise Condo 156 12,645,866.84 2.66
Manufactured Housing 174 10,624,336.31 2.23
PUD 149 18,129,277.60 3.81
Single Family Attached 140 9,221,784.84 1.94
Single Family Detached 4,516 392,017,378.52 82.45
Townhouse 36 2,867,440.83 0.60
--------------------------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
==================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
State
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
==================================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
State or Territory Loans the Cut Off Date the Cut Off Date
==================================================================================================
<S> <C> <C> <C>
Alaska 13 $ 1,576,994.11 0.33%
Arizona 145 13,674,629.28 2.88
Arkansas 45 2,957,554.89 0.62
California 476 63,660,734.96 13.39
Colorado 119 12,381,106.88 2.60
Connecticut 76 9,057,871.85 1.91
Delaware 33 3,680,456.46 0.77
District of Columbia 3 663,256.77 0.14
Florida 391 31,169,281.33 6.56
Georgia 319 24,472,019.64 5.15
Hawaii 32 5,833,233.82 1.23
Idaho 26 2,356,773.50 0.50
Illinois 249 22,083,674.68 4.64
Indiana 208 13,626,388.75 2.87
Iowa 67 4,137,999.49 0.87
Kansas 55 4,010,150.70 0.84
Kentucky 105 7,645,004.68 1.61
Louisiana 150 10,144,032.17 2.13
Maine 6 540,992.29 0.11
Maryland 91 8,671,082.15 1.82
Massachusetts 46 4,627,178.18 0.97
Michigan 384 27,202,708.20 5.72
Minnesota 84 7,875,876.16 1.66
Mississippi 58 3,582,780.14 0.75
Missouri 146 11,280,220.67 2.37
Montana 7 1,314,260.92 0.28
Nebraska 11 636,808.19 0.13
Nevada 11 1,380,577.43 0.29
New Hampshire 16 1,487,172.29 0.31
New Jersey 151 17,174,867.25 3.61
New Mexico 34 2,312,650.38 0.49
New York 130 13,641,970.42 2.87
North Carolina 73 5,777,725.02 1.22
North Dakota 4 197,040.00 0.04
Ohio 285 19,973,398.31 4.20
Oklahoma 115 7,555,399.97 1.59
Oregon 51 6,394,605.16 1.34
Pennsylvania 328 23,805,347.50 5.01
Rhode Island 9 811,808.67 0.17
South Carolina 34 2,146,865.46 0.45
South Dakota 1 28,200.00 0.01
Tennessee 191 13,036,077.76 2.74
Texas 286 22,515,784.52 4.74
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
Utah 28 3,411,454.65 0.72
Vermont 3 196,287.39 0.04
Virginia 209 18,925,056.26 3.98
Washington 88 9,466,298.21 1.99
West Virginia 28 1,534,673.18 0.32
Wisconsin 64 4,645,416.20 0.98
Wyoming 3 174,434.71 0.04
------------------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
==========================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Fico Scores
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
==================================================================================================
% of Current
Number Principal Balance Principal Balance
Range of of Mortgage Outstanding as of Outstanding as of
Fico Scores Loans the Cut Off Date the Cut Off Date
===================================================================================================
<S> <C> <C> <C>
801 to 850 2 $ 339,453.98 0.07%
751 to 800 67 5,703,064.03 1.20
701 to 750 169 14,309,987.28 3.01
651 to 700 581 49,851,232.28 10.48
601 to 650 1,362 122,167,038.21 25.69
551 to 600 1,544 140,470,872.27 29.54
501 to 550 1,253 105,682,127.05 22.23
451 to 500 278 21,553,744.56 4.53
401 to 450 8 748,027.73 0.16
Unknown Scores 223 14,630,634.21 3.08
---------------------------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
===================================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Credit Grade
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
====================================================================================
Credit Grade % of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Loans the Cut Off Date the Cut Off Date
====================================================================================
<S> <C> <C> <C>
A+ 577 $ 59,086,912.24 12.43%
A 972 84,221,364.61 17.71
A- 1,889 177,675,026.52 37.37
B 1,145 92,055,191.44 19.36
C 756 52,676,733.88 11.08
D 148 9,740,952.91 2.05
------------------------------------------------------------------------------------
TOTAL 5,487 $ 475,456,181.60 100.00%
====================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Lien Status
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Lien Status Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
1 5,118 $459,700,298.20 96.69%
2 369 15,755,883.40 3.31
--------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Amortization
Sast 2000-2
Fixed Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Amortization Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
Fully Amortizing 2,418 $185,518,868.29 39.02%
Partially Amortizing 3,069 289,937,313.31 60.98
--------------------------------------------------------------------------------
TOTAL 5,487 $475,456,181.60 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Current Balance
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
Principal Balance % of Current
Number Outstanding as of Principal Balance
of Mortgage the Cut Off Date Outstanding as of
Principal Balance ($) Loans the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 25,000.00 15 $ 335,294.49 0.13%
25,000.01 - 50,000.00 273 10,861,314.75 4.34
50,000.01 - 75,000.00 479 29,907,779.87 11.96
75,000.01 - 100,000.00 377 33,004,587.67 13.20
100,000.01 - 150,000.00 532 65,493,075.23 26.19
150,000.01 - 200,000.00 219 37,587,893.11 15.03
200,000.01 - 250,000.00 101 22,427,455.77 8.97
250,000.01 - 300,000.00 66 18,062,602.97 7.22
300,000.01 - 350,000.00 17 5,406,778.64 2.16
350,000.01 - 400,000.00 12 4,561,260.41 1.82
400,000.01 - 450,000.00 10 4,270,215.13 1.71
450,000.01 - 500,000.00 10 4,714,306.47 1.89
500,000.01 - 550,000.00 6 3,171,678.67 1.27
550,000.01 - 600,000.00 8 4,567,879.57 1.83
600,000.01 - 650,000.00 2 1,267,480.08 0.51
650,000.01 - 700,000.00 2 1,330,479.64 0.53
700,000.01 - 750,000.00 2 1,464,740.64 0.59
750,000.01 - 800,000.00 2 1,586,500.00 0.63
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Life Cap
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Life Cap (%) Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
13.001 - 13.500 3 $ 243,707.12 0.10%
13.501 - 14.000 7 749,762.03 0.30
14.001 - 14.500 20 3,437,859.00 1.38
14.501 - 15.000 74 10,947,182.15 4.38
15.001 - 15.500 125 16,578,439.09 6.63
15.501 - 16.000 234 29,901,741.50 11.96
16.001 - 16.500 224 27,894,977.04 11.16
16.501 - 17.000 337 40,922,282.87 16.37
17.001 - 17.500 284 35,870,044.06 14.35
17.501 - 18.000 322 35,387,834.90 14.15
18.001 - 18.500 180 19,426,582.04 7.77
18.501 - 19.000 171 16,243,832.27 6.50
19.001 - 19.500 71 5,745,839.57 2.30
19.501 - 20.000 44 3,522,629.66 1.41
20.001 - 20.500 23 2,182,103.28 0.87
20.501 - 21.000 9 681,061.53 0.27
21.001 - 21.500 3 179,200.00 0.07
21.501 - 22.000 2 106,245.00 0.04
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Interest Rates
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Current Loan Rate (%) Loan the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
7.01 - 7.50 3 $ 243,707.12 0.10%
7.51 - 7.75 1 72,891.52 0.03
7.76 - 8.00 6 676,870.51 0.27
8.01 - 8.25 6 665,867.77 0.27
8.26 - 8.50 15 2,852,743.15 1.14
8.51 - 8.75 29 4,491,738.47 1.80
8.76 - 9.00 69 9,744,401.94 3.90
9.01 - 9.25 72 8,506,900.49 3.40
9.26 - 9.50 106 15,827,131.98 6.33
9.51 - 9.75 158 19,856,563.27 7.94
9.76 - 10.00 221 30,503,845.48 12.20
10.01 - 10.25 127 16,622,726.74 6.65
10.26 - 10.50 209 28,027,422.05 11.21
10.51 - 10.75 189 21,082,389.21 8.43
10.76 - 11.00 203 23,450,634.82 9.38
11.01 - 11.25 127 14,098,163.01 5.64
11.26 - 11.50 140 14,009,540.82 5.60
11.51 - 11.75 121 11,471,055.47 4.59
11.76 - 12.00 119 10,625,979.17 4.25
12.01 - 12.25 42 3,244,804.31 1.30
12.26 - 12.50 53 4,623,829.14 1.85
12.51 - 12.75 35 2,564,025.16 1.03
12.76 - 13.00 36 2,992,574.84 1.20
13.01 - 13.25 18 1,643,011.93 0.66
13.26 - 13.50 12 1,013,702.69 0.41
13.51 - 13.75 4 159,209.05 0.06
13.76 - 14.00 7 664,148.00 0.27
14.01 - 14.25 2 118,900.00 0.05
14.26 - 14.50 1 60,300.00 0.02
14.51 - 14.75 1 36,245.00 0.01
14.76 - 15.00 1 70,000.00 0.03
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Life Floor
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Life Floor (%) Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
4.501 - 5.500 8 $ 2,063,527.81 0.83%
5.501 - 6.000 13 2,792,067.93 1.12
6.001 - 6.500 4 900,449.98 0.36
6.501 - 7.000 1 800,000.00 0.32
7.001 - 7.500 5 488,731.77 0.20
7.501 - 8.000 13 1,468,794.06 0.59
8.001 - 8.500 28 4,714,402.68 1.89
8.501 - 9.000 92 11,458,044.96 4.58
9.001 - 9.500 171 22,594,496.01 9.04
9.501 - 10.000 373 49,446,962.61 19.78
10.001 - 10.500 327 42,510,405.30 17.00
10.501 - 11.000 387 43,948,238.63 17.58
11.001 - 11.500 264 27,883,372.10 11.15
11.501 - 12.000 237 21,890,022.71 8.76
12.001 - 12.500 94 7,800,670.44 3.12
12.501 - 13.000 70 5,495,619.45 2.20
13.001 - 13.500 30 2,656,714.62 1.06
13.501 - 14.000 11 823,357.05 0.33
14.001 - 14.500 3 179,200.00 0.07
14.501 - 15.000 2 106,245.00 0.04
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Gross Margin
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Gross Margin (%) Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
2.751 - 3.000 1 $ 109,565.00 0.04%
3.251 - 3.500 2 851,824.82 0.34
3.751 - 4.000 5 1,224,156.98 0.49
4.001 - 4.250 10 1,373,515.62 0.55
4.251 - 4.500 14 2,325,862.18 0.93
4.501 - 4.750 13 2,101,208.05 0.84
4.751 - 5.000 70 8,518,535.54 3.41
5.001 - 5.250 93 12,141,555.46 4.86
5.251 - 5.500 138 16,973,136.47 6.79
5.501 - 5.750 140 18,650,972.24 7.46
5.751 - 6.000 286 32,147,831.26 12.86
6.001 - 6.250 226 28,233,633.09 11.29
6.251 - 6.500 306 37,011,881.35 14.80
6.501 - 6.750 189 21,526,819.03 8.61
6.751 - 7.000 245 27,944,144.64 11.18
7.001 - 7.250 148 14,816,394.75 5.93
7.251 - 7.500 96 10,011,984.69 4.00
7.501 - 7.750 44 4,381,383.52 1.75
7.751 - 8.000 46 5,554,484.60 2.22
8.001 - 8.250 20 1,091,509.49 0.44
8.251 - 8.500 13 1,171,756.82 0.47
8.501 - 8.750 10 599,850.08 0.24
8.751 - 9.000 7 614,431.48 0.25
9.001 - 9.250 6 379,768.13 0.15
9.251 - 9.500 3 172,932.34 0.07
9.501 - 9.750 1 55,163.00 0.02
9.751 - 10.000 1 37,022.48 0.01
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Combined Original LTV
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Original LTV Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
15.001 - 20.000 3 $ 97,959.78 0.04%
20.001 - 25.000 5 303,105.85 0.12
25.001 - 30.000 3 227,867.59 0.09
30.001 - 35.000 8 558,783.31 0.22
35.001 - 40.000 9 641,242.67 0.26
40.001 - 45.000 11 909,402.46 0.36
45.001 - 50.000 30 2,459,640.27 0.98
50.001 - 55.000 33 3,317,121.37 1.33
55.001 - 60.000 87 8,627,084.93 3.45
60.001 - 65.000 147 16,867,940.51 6.75
65.001 - 70.000 202 23,377,453.55 9.35
70.001 - 75.000 283 33,468,150.98 13.39
75.001 - 80.000 632 75,515,713.54 30.20
80.001 - 85.000 320 38,301,642.71 15.32
85.001 - 90.000 348 43,717,318.65 17.49
90.001 - 95.000 12 1,630,894.94 0.65
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Remaining Amortization Term
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Remaining Term (months) Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
169 - 180 1 $ 37,480.00 0.01%
253 - 264 1 91,179.09 0.04
265 - 276 1 177,996.37 0.07
277 - 288 1 38,046.30 0.02
289 - 300 2 244,622.16 0.10
301 - 312 1 49,108.98 0.02
313 - 324 1 138,081.27 0.06
325 - 336 1 89,057.43 0.04
337 - 348 12 1,022,242.82 0.41
349 - 360 2,112 248,133,508.69 99.24
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Occupancy
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Stated Occupancy Status Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary Home 1,996 $240,076,792.16 96.02%
Investor 132 9,462,870.48 3.78
Second Home 5 481,660.47 0.19
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Documentation
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Documentation Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
<S> <C> <C> <C>
Full Documentation 1,591 $177,411,678.96 70.96%
Limited Documentation 118 20,131,478.03 8.05
Stated Documentation 420 52,208,530.56 20.88
No Ratio 4 269,635.56 0.11
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Purpose
Sast 2000-2
Adjustable Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Purpose Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
Refinance(no cash out) 244 $ 29,272,714.38 11.71%
Refinance(cash out) 1,095 128,413,793.81 51.36
Purchase 794 92,334,814.92 36.93
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Property Type
Sast 2000-2
Adjustable Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Property Type Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
2-4 Family 125 $ 14,215,942.59 5.69%
High Rise Condo 6 993,856.92 0.40
Low Rise Condo 94 8,859,861.43 3.54
Manufactured Housing 38 2,884,513.96 1.15
PUD 123 18,903,311.71 7.56
Single Family Attached 38 3,205,707.35 1.28
Single Family Detached 1,690 198,971,045.64 79.58
Townhouse 19 1,987,083.51 0.79
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
State
Sast 2000-2
Adjustable Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
State or Territory Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
Alaska 5 $ 584,267.81 0.23%
Arizona 55 6,731,990.76 2.69
Arkansas 13 707,285.48 0.28
California 431 78,794,702.45 31.52
Colorado 69 8,581,191.21 3.43
Connecticut 42 5,197,105.21 2.08
Delaware 3 168,150.99 0.07
District of Columbia 3 347,160.60 0.14
Florida 103 9,702,833.81 3.88
Georgia 51 5,145,333.91 2.06
Hawaii 12 1,740,638.53 0.70
Idaho 14 1,775,380.85 0.71
Illinois 180 18,175,885.59 7.27
Indiana 63 4,775,880.90 1.91
Iowa 26 1,706,376.87 0.68
Kansas 11 623,904.76 0.25
Kentucky 19 1,467,089.83 0.59
Louisiana 18 2,297,417.51 0.92
Maine 1 73,723.14 0.03
Maryland 15 1,590,475.21 0.64
Massachusetts 8 889,051.47 0.36
Michigan 135 11,511,761.47 4.60
Minnesota 81 7,711,630.08 3.08
Mississippi 14 825,261.71 0.33
Missouri 39 2,789,911.45 1.12
Montana 2 73,280.89 0.03
Nebraska 4 269,303.86 0.11
Nevada 30 3,252,947.41 1.30
New Hampshire 3 252,490.59 0.10
New Jersey 21 3,451,871.63 1.38
New Mexico 8 613,596.39 0.25
New York 17 2,778,944.06 1.11
North Carolina 31 2,738,025.20 1.10
North Dakota 2 96,209.69 0.04
Ohio 105 9,405,567.83 3.76
Oklahoma 17 1,203,217.55 0.48
Oregon 42 5,430,323.50 2.17
Pennsylvania 89 7,475,199.79 2.99
Rhode Island 3 246,208.67 0.10
South Carolina 12 971,088.82 0.39
South Dakota 2 131,554.17 0.05
Tennessee 36 3,973,948.16 1.59
Texas 100 10,355,042.66 4.14
<PAGE>
Utah 32 3,666,890.58 1.47
Vermont 3 211,335.45 0.08
Virginia 34 4,773,662.10 1.91
Washington 93 11,532,446.27 4.61
West Virginia 5 420,299.98 0.17
Wisconsin 30 2,689,182.89 1.08
Wyoming 1 94,273.37 0.04
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Fico Scores
Sast 2000-2
Adjustable Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
Range of of Mortgage Outstanding as of Outstanding as of
Fico Scores Loans the Cut Off Date the Cut Off Date
-------------------------------------------------------------------------------
801 to 850 1 $ 168,492.45 0.07%
751 to 800 3 223,563.76 0.09
701 to 750 31 4,293,884.04 1.72
651 to 700 130 18,197,705.52 7.28
601 to 650 398 47,844,560.56 19.14
551 to 600 699 84,840,116.88 33.93
501 to 550 642 71,407,939.36 28.56
451 to 500 141 15,315,214.16 6.13
401 to 450 6 1,074,981.70 0.43
Unknown Scores 82 6,654,864.68 2.66
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Credit Grade
Sast 2000-2
Adjustable Rate Mortgage Loan Group
--------------------------------------------------------------------------------
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Credit Grade Loans the Cut Off Date the Cut Off Date
--------------------------------------------------------------------------------
A+ 21 $ 3,476,327.00 1.39%
A 38 6,320,363.77 2.53
A- 893 115,251,307.13 46.10
B 582 67,683,280.53 27.07
C 458 43,954,403.62 17.58
D 141 13,335,641.06 5.33
--------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
================================================================================
<PAGE>
Bank of America Securities LLC
Periodic Cap
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
======================================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Periodic Interest Cap Loans the Cut Off Date the Cut Off Date
======================================================================================
<S> <C> <C> <C>
0.50% 4 $ 569,381.36 0.23%
1.00% 1,630 186,756,527.04 74.70
1.50% 408 53,253,932.78 21.30
2.00% 3 311,860.48 0.12
3.00% 88 9,129,621.45 3.65
--------------------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
======================================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Next Interest Roll Date
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
============================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Next Roll Date Loans the Cut Off Date the Cut Off Date
============================================================================
<S> <C> <C> <C>
07/01/2000 1 $ 97,782.88 0.04%
08/01/2000 2 267,702.53 0.11
09/01/2000 4 374,054.97 0.15
10/01/2000 1 90,812.20 0.04
12/01/2000 1 84,000.00 0.03
03/01/2001 1 211,381.40 0.08
04/01/2001 3 306,435.64 0.12
06/25/2001 1 83,579.59 0.03
08/01/2001 4 532,212.94 0.21
09/01/2001 2 118,660.16 0.05
10/01/2001 7 989,415.96 0.40
11/01/2001 3 309,025.14 0.12
12/01/2001 13 1,539,801.04 0.62
01/01/2002 34 4,611,274.65 1.84
01/18/2002 1 131,985.98 0.05
01/21/2002 1 89,786.61 0.04
01/26/2002 1 46,515.77 0.02
01/28/2002 1 50,921.98 0.02
02/01/2002 110 17,308,402.40 6.92
02/11/2002 1 152,746.87 0.06
02/22/2002 1 43,945.94 0.02
03/01/2002 195 20,753,677.66 8.30
03/07/2002 1 72,345.51 0.03
03/09/2002 1 62,837.33 0.03
03/15/2002 2 79,413.65 0.03
03/22/2002 1 70,919.78 0.03
04/01/2002 283 29,477,746.38 11.79
04/11/2002 1 192,861.43 0.08
04/15/2002 3 274,549.36 0.11
05/01/2002 227 24,950,203.81 9.98
05/15/2002 3 259,115.63 0.10
06/01/2002 174 18,700,237.00 7.48
07/01/2002 3 355,092.85 0.14
07/15/2002 1 69,431.30 0.03
09/01/2002 4 714,628.82 0.29
10/01/2002 2 153,181.15 0.06
11/01/2002 4 397,018.85 0.16
12/01/2002 13 1,099,209.52 0.44
01/01/2003 41 4,765,008.39 1.91
01/05/2003 1 39,949.16 0.02
02/01/2003 112 15,881,533.99 6.35
02/04/2003 1 88,902.17 0.04
02/17/2003 1 93,375.37 0.04
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
02/23/2003 1 24,961.81 0.01
03/01/2003 235 28,549,198.95 11.42
03/06/2003 2 219,788.72 0.09
03/08/2003 1 58,349.36 0.02
03/13/2003 1 215,854.36 0.09
03/16/2003 1 199,821.72 0.08
04/01/2003 259 30,692,780.51 12.28
04/05/2003 1 42,274.98 0.02
04/15/2003 2 135,340.73 0.05
04/17/2003 1 114,892.25 0.05
04/20/2003 1 77,138.37 0.03
04/28/2003 2 125,357.64 0.05
05/01/2003 194 24,578,984.26 9.83
05/11/2003 1 119,962.69 0.05
06/01/2003 154 17,591,410.00 7.04
07/01/2003 10 1,283,523.00 0.51
----------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
============================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Product Type
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
============================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Product Type Loans the Cut Off Date the Cut Off Date
============================================================================
<S> <C> <C> <C>
One Year CMT 2 $ 279,331.30 0.11%
2/28 LIBOR 1,073 121,287,771.38 48.51
3/27 LIBOR 1,049 127,539,867.85 51.01
Six Month LIBOR 9 914,352.58 0.37
----------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
============================================================================
</TABLE>
<PAGE>
Bank of America Securities LLC
Lien Status
Sast 2000-2
Adjustable Rate Mortgage Loan Group
<TABLE>
<CAPTION>
===========================================================================
% of Current
Number Principal Balance Principal Balance
of Mortgage Outstanding as of Outstanding as of
Lien Status Loans the Cut Off Date the Cut Off Date
===========================================================================
<S> <C> <C> <C>
1 2,133 $250,021,323.11 100.00%
---------------------------------------------------------------------------
TOTAL 2,133 $250,021,323.11 100.00%
===========================================================================
</TABLE>
<PAGE>
Item 6. Resignations of Registrant's Directors. Not Applicable.
Item 7. Financial Statements and Exhibits
(a) Financial statements of businesses acquired. Not Applicable.
(b) Pro forma financial information. Not Applicable.
(c) Exhibits. Not Applicable.
Item 8. Change in Fiscal Year. Not Applicable.
Item 9. Sales of Equity Securities Pursuant to Regulation S. Not Applicable.
<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.
SAXON ASSET SECURITIES COMPANY
By: /s/ Bradley D. Adams
--------------------
Bradley D. Adams, Vice President
July 10, 2000
