<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) September 28, 2000
Saxon Asset Securities Company
--------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
Virginia 34-0-20552 54-1810895
----------------------------- -------------------------- --------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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 September 28, 2000, the Registrant caused the issuance and sale of
Mortgage Loan Asset Backed Certificates, Series 2000-3, pursuant to a Trust
Agreement dated as of September 1, 2000, among the Registrant, Saxon Mortgage,
Inc., as Master Servicer, and Bankers Trust Company, a New York corporation, as
Trustee, and incorporating by reference the February 2000 Edition of the
Standard Terms to Trust Agreement (the "Trust Agreement"). Capitalized terms
used and not defined herein shall have the meanings assigned to them in the
Trust Agreement.
Certificates were issued with original principal amounts and pass-through
rates set forth below:
<TABLE>
<CAPTION>
Designation Pass-Through Rate Principal Balance
<S> <C> <C>
Class AF-1 Certificates Variable/(1)/ $ 85,000,000
Class AF-2 Certificates 7.27%/(1)/ $ 57,750,000
Class AF-3 Certificates 7.36%/(1)/ $ 37,800,000
Class AF-4 Certificates 7.63%/(1)/ $ 53,900,000
Class AF-5 Certificates 7.85%/(1)/ $ 35,330,000
Class AF-6 Certificates 7.47%/(1)/ $ 30,000,000
Class MF-1 Certificates 7.85%/(1)/ $ 18,714,000
Class MF-2 Certificates 8.24%/(1)/ $ 11,909,000
Class BF-1 Certificates 9.01%/(1)/ $ 9,357,000
Class AV-1 Certificates Variable/(2)/ $136,992,000
Class AV-2 Certificates Variable/(2)/ $136,992,000
Class MV-1 Certificates Variable/(2)/ $ 30,629,000
Class MV-2 Certificates Variable/(2)/ $ 17,072,000
Class BV-1 Certificates Variable/(2)/ $ 13,054,000
Class A-IO-I Certificates 7.40% /(3)/
Class A-IO-I Certificates 7.40% /(3)/
Class PF-1 Certificates /(4)/ $ 50
Class PV-1 Certificates /(4)/ $ 50
Class C Certificates Variable /(3)/
Class R Certificates /(4)/ /(3)/
</TABLE>
/(1)/ Subject to a cap equal to the Net Rate on the Fixed Rate Mortgage Loans
for the applicable Accrual Period.
/(2)/ Subject to a cap equal to the Available Funds on the Adjustable Rate
Mortgage Loans for the applicable Accrual Period.
/(3)/ The Class A-IO-I, Class A-IO-II, Class C and Class R Certificates do not
have principal balances.
/(4)/ The Class PF-1, Class PV-1 and Class R Certificates do not have an
interest rate.
<PAGE>
The Certificates represent undivided ownership interest in pools of
mortgage loans (the "Mortgage Loans") held by a trust (the "Trust") created
pursuant to the Trust Agreement . The Mortgage Loans were acquired by the
Registrant from Saxon Mortgage, Inc. ("SMI"), an affiliate of the Registrant
which originated or acquired the Mortgage Loans from various mortgage banking
institutions. The 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 Mortgage Loans will be serviced by Meritech
Mortgage Services, Inc., an affiliate of the Registrant.
The Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5, Class AF-6,
Class MF-1, Class MF-2, Class BF-1, Class AV-1, Class AV-2, Class MV-1, Class
MV-2, Class BV-1, Class A-IO-I and Class A-IO-II Certificates were purchased by
Greenwich Capital Markets, Inc., Banc of America Securities LLC, Credit Suisse
First Boston Corporation and Prudential Securities Incorporated (the
"Underwriters"), from the Seller pursuant to an Underwriting Agreement dated
September 13, 2000, and offered pursuant to Registration Statement No. 333-35370
by the Underwriters from time to time in negotiated transactions or otherwise,
at varying prices to be determined at the time of sale.
Elections will be made to treat certain assets of the Trust as a real
estate mortgage investment conduits ("REMICs") for federal income tax purposes.
Each Class of Certificates listed above (other than the Class R Certificates)
will constitute "regular interests" in the Issuing REMIC.
The description of the Mortgage Loans sold to the Trustee pursuant to the
Trust Agreement as of the Closing Date 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>
FOR INTERNAL USE ONLY
ALL AMOUNTS SUBJECT TO CHANGE
PRELIMINARY INFORMATION SHEET
9/27/00
Saxon Asset Securities Trust (SAST) 2000-3: Group I
09/01/2000 SCHEDULED BALANCES
FIXED/ARM: Fixed Rate
TOTAL CURRENT BALANCE: 257,847,573.60
NUMBER OF LOANS: 3,168
<TABLE>
<CAPTION>
AVG/WAVG MIN MAX
<S> <C> <C> <C>
AVG CURRENT BALANCE: $81,391.28 $9,854.17 $599,697.00
WAVG GROSS COUPON: 11.395% 7.375 16.875%
WAVG ORIG COMBINED LTV: 77.28% 10.00 100.00%
WAVG ORIGINAL LTV: 74.97% 4.62 96.12%
WAVG FICO SCORE: 581 0 810
WAVG ORIGINAL TERM: 229 months 60 360 months
WAVG REMAINING TERM: 228 months 59 360 months
WAVG SEASONING: 1 months 0 21 months
WAVG REMAIN AMORT TERM: 342 months 59 360 months
TOP STATE CONCENTRATIONS ($): 14.48% California, 7.09% Florida, 6.24% Michigan
MAXIMUM ZIP CODE CONCENTRATION ($): 0.30% 20772 (Marlboro, MD)
</TABLE>
FIRST PAY DATE: Dec 25, 1998 Nov 01, 2000
MATURE DATE: Jul 24, 2005 Oct 01, 2030
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL PCT($) # OF LOANS PCT(#)
Current Balance:
<S> <C> <C> <C> <C>
9,854.17 - 25,000.00 3,457,909.67 1.34 164 5.18
25,000.01 - 50,000.00 33,922,175.57 13.16 889 28.06
50,000.01 - 75,000.00 51,126,998.70 19.83 825 26.04
75,000.01 - 100,000.00 41,896,044.65 16.25 478 15.09
100,000.01 - 125,000.00 36,103,496.15 14.00 321 10.13
125,000.01 - 150,000.00 26,659,451.66 10.34 196 6.19
150,000.01 - 175,000.00 16,174,966.99 6.27 100 3.16
175,000.01 - 200,000.00 12,255,095.68 4.75 65 2.05
200,000.01 - 225,000.00 9,316,625.73 3.61 44 1.39
225,000.01 - 250,000.00 4,488,817.82 1.74 19 0.60
250,000.01 - 275,000.00 4,481,141.97 1.74 17 0.54
275,000.01 - 300,000.00 4,320,032.88 1.68 15 0.47
300,000.01 - 325,000.00 2,814,194.02 1.09 9 0.28
325,000.01 - 350,000.00 3,368,993.79 1.31 10 0.32
350,000.01 - 375,000.00 723,851.31 0.28 2 0.06
375,000.01 - 400,000.00 1,977,353.79 0.77 5 0.16
400,000.01 - 425,000.00 814,132.92 0.32 2 0.06
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
475,000.01 - 500,000.00 499,531.56 0.19 1 0.03
500,000.01 - 525,000.00 524,449.74 0.20 1 0.03
550,000.01 - 575,000.00 554,817.69 0.22 1 0.03
575,000.01 - 599,697.00 2,367,491.31 0.92 4 0.13
------------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Current Interest Rates:
<S> <C> <C> <C> <C>
7.375 - 7.500 715,419.96 0.28 7 0.22
7.501 - 7.750 146,955.91 0.06 1 0.03
7.751 - 8.000 565,384.32 0.22 3 0.09
8.001 - 8.250 259,666.58 0.10 1 0.03
8.251 - 8.500 990,145.97 0.38 8 0.25
8.501 - 8.750 1,083,869.21 0.42 15 0.47
8.751 - 9.000 4,935,861.61 1.91 47 1.48
9.001 - 9.250 4,747,850.31 1.84 45 1.42
9.251 - 9.500 8,152,323.02 3.16 69 2.18
9.501 - 9.750 10,401,585.28 4.03 112 3.54
9.751 - 10.000 16,942,359.56 6.57 170 5.37
10.001 - 10.250 9,225,884.74 3.58 104 3.28
10.251 - 10.500 17,512,848.35 6.79 182 5.74
10.501 - 10.750 16,487,914.39 6.39 185 5.84
10.751 - 11.000 24,192,095.49 9.38 274 8.65
11.001 - 11.250 13,495,743.28 5.23 156 4.92
11.251 - 11.500 16,241,474.40 6.30 209 6.60
11.501 - 11.750 15,721,209.56 6.10 198 6.25
11.751 - 12.000 17,796,707.79 6.90 222 7.01
12.001 - 12.250 10,294,407.30 3.99 142 4.48
12.251 - 12.500 14,411,522.52 5.59 192 6.06
12.501 - 12.750 12,829,373.82 4.98 165 5.21
12.751 - 13.000 10,996,082.92 4.26 157 4.96
13.001 - 13.250 5,530,721.27 2.14 92 2.90
13.251 - 13.500 5,077,775.43 1.97 85 2.68
13.501 - 13.750 4,041,809.97 1.57 66 2.08
13.751 - 14.000 5,260,640.07 2.04 85 2.68
14.001 - 14.250 3,656,324.45 1.42 55 1.74
14.251 - 14.500 1,089,038.73 0.42 26 0.82
14.501 - 14.750 1,544,892.94 0.60 31 0.98
14.751 - 15.000 1,891,855.26 0.73 32 1.01
15.001 - 15.250 942,743.20 0.37 15 0.47
15.251 - 15.500 142,946.60 0.06 5 0.16
15.501 - 15.750 193,310.83 0.07 4 0.13
15.751 - 16.000 134,672.36 0.05 3 0.09
16.001 - 16.250 135,679.10 0.05 3 0.09
16.501 - 16.750 19,977.10 0.01 1 0.03
16.751 - 16.875 38,500.00 0.01 1 0.03
------------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Original Combined LTV:
<S> <C> <C> <C> <C>
10.00 - 10.00 25,001.00 0.01 1 0.03
10.01 - 15.00 84,939.84 0.03 2 0.06
15.01 - 20.00 153,741.85 0.06 5 0.16
20.01 - 25.00 843,347.76 0.33 17 0.54
</TABLE>
<PAGE>
25.01 - 30.00 720,937.31 0.28 19 0.60
30.01 - 35.00 1,478,433.68 0.57 22 0.69
35.01 - 40.00 1,626,779.97 0.63 34 1.07
40.01 - 45.00 2,343,401.39 0.91 41 1.29
45.01 - 50.00 4,252,530.52 1.65 90 2.84
50.01 - 55.00 4,615,395.54 1.79 72 2.27
55.01 - 60.00 7,263,661.26 2.82 117 3.69
60.01 - 65.00 15,735,713.47 6.10 205 6.47
65.01 - 70.00 25,128,383.74 9.75 307 9.69
70.01 - 75.00 32,527,305.41 12.61 382 12.06
75.01 - 80.00 63,308,624.57 24.55 747 23.58
80.01 - 85.00 41,516,733.34 16.10 474 14.96
85.01 - 90.00 48,972,685.21 18.99 537 16.95
90.01 - 95.00 5,583,809.03 2.17 52 1.64
95.01 - 100.00 1,666,148.71 0.65 44 1.39
--------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
==========================================================================
Remaining Term:
59 - 60 254,449.53 0.10 13 0.41
109 - 120 1,380,635.92 0.54 37 1.17
133 - 144 382,545.53 0.15 10 0.32
157 - 168 315,863.87 0.12 8 0.25
169 - 180 181,700,188.03 70.47 2,246 70.90
229 - 240 4,700,357.98 1.82 83 2.62
289 - 300 205,800.00 0.08 4 0.13
337 - 348 163,895.23 0.06 1 0.03
349 - 360 68,743,837.51 26.66 766 24.18
--------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
==========================================================================
Remain Amort Term:
59 - 60 254,449.53 0.10 13 0.41
109 - 120 1,398,281.19 0.54 38 1.20
133 - 144 382,545.53 0.15 10 0.32
157 - 168 249,686.31 0.10 8 0.25
169 - 180 17,221,060.73 6.68 350 11.05
229 - 240 4,700,357.98 1.82 83 2.62
253 - 264 83,831.45 0.03 1 0.03
265 - 276 37,489.11 0.01 1 0.03
289 - 300 205,800.00 0.08 4 0.13
301 - 312 167,396.44 0.06 2 0.06
313 - 324 486,946.69 0.19 10 0.32
325 - 336 1,494,860.98 0.58 23 0.73
337 - 348 1,972,271.03 0.76 24 0.76
349 - 360 229,192,596.63 88.89 2,601 82.10
--------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
==========================================================================
Occupancy Type:
Primary 242,189,741.85 93.93 2,916 92.05
Investor 14,193,066.56 5.50 236 7.45
Second Home 1,464,765.19 0.57 16 0.51
--------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 00.00
==========================================================================
<PAGE>
Documentation Type:
Full Documentation 208,029,125.41 80.68 2,647 83.55
STATED DOCUMENTATION 34,976,225.23 13.56 366 11.55
Limited Documentation 13,133,710.48 5.09 118 3.72
No Ratio 1,708,512.48 0.66 37 1.17
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
Loan Purpose:
Cash Out Refinance 164,916,591.44 63.96 2,148 67.80
Purchase 68,206,816.10 26.45 757 23.90
Refinance 24,724,166.06 9.59 263 8.30
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
Property Type:
Single Family Detached 211,960,364.48 82.20 2,615 82.54
Two-Four Family 13,913,821.81 5.40 151 4.77
PUD 10,301,903.79 4.00 92 2.90
Condominium 9,725,236.61 3.77 119 3.76
Manufactured Housing 5,875,233.31 2.28 92 2.90
Single Family Attached 4,163,027.18 1.61 72 2.27
Townhouse 1,907,986.42 0.74 27 0.85
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
Loan Types:
BALLOON 15/30 164,527,659.59 63.81 1,895 59.82
Fixed Rate 10 Year 1,380,635.92 0.54 37 1.17
Fixed Rate 12 Year 382,545.53 0.15 10 0.32
Fixed Rate 15 Year 17,488,392.31 6.78 359 11.33
Fixed Rate 20 Year 4,700,357.98 1.82 83 2.62
Fixed Rate 25 Year 205,800.00 0.08 4 0.13
Fixed Rate 30 Year 68,907,732.74 26.72 767 24.21
Fixed Rate 5 Year 254,449.53 0.10 13 0.41
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
State Distribution:
Alaska 1,427,125.27 0.55 13 0.41
Arizona 4,018,055.48 1.56 50 1.58
Arkansas 1,773,194.60 0.69 32 1.01
California 37,340,297.52 14.48 322 10.16
Colorado 6,188,478.34 2.40 54 1.70
Connecticut 5,745,359.60 2.23 51 1.61
Delaware 2,392,454.45 0.93 23 0.73
District of Columbia 266,759.89 0.10 3 0.09
Florida 18,283,345.25 7.09 229 7.23
Georgia 14,827,012.32 5.75 183 5.78
Hawaii 1,468,565.35 0.57 12 0.38
Idaho 1,875,092.64 0.73 16 0.51
Illinois 12,238,419.71 4.75 153 4.83
Indiana 7,619,921.35 2.96 140 4.42
Iowa 2,718,233.59 1.05 39 1.23
<PAGE>
Kansas 1,465,280.10 0.57 24 0.76
Kentucky 4,547,408.06 1.76 69 2.18
Louisiana 6,999,431.02 2.71 103 3.25
Maine 331,030.87 0.13 5 0.16
Maryland 5,078,940.44 1.97 52 1.64
Massachusetts 1,439,894.99 0.56 11 0.35
Michigan 16,091,311.15 6.24 230 7.26
Minnesota 5,154,253.78 2.00 58 1.83
Mississippi 2,868,448.46 1.11 49 1.55
Missouri 5,422,916.50 2.10 84 2.65
Montana 443,973.16 0.17 5 0.16
Nebraska 575,795.89 0.22 12 0.38
Nevada 1,229,274.80 0.48 11 0.35
New Hampshire 632,778.34 0.25 7 0.22
New Jersey 8,418,819.98 3.27 85 2.68
New Mexico 1,953,350.56 0.76 19 0.60
New York 5,455,301.94 2.12 50 1.58
North Carolina 3,413,495.94 1.32 40 1.26
North Dakota 74,000.00 0.03 2 0.06
Ohio 10,356,074.49 4.02 149 4.70
Oklahoma 4,736,041.93 1.84 78 2.46
Oregon 3,397,216.72 1.32 32 1.01
Pennsylvania 11,400,287.79 4.42 170 5.37
Rhode Island 433,076.24 0.17 4 0.13
South Carolina 990,914.51 0.38 18 0.57
South Dakota 259,503.37 0.10 4 0.13
Tennessee 6,484,697.87 2.51 107 3.38
Texas 10,357,807.52 4.02 148 4.67
Utah 1,767,949.38 0.69 15 0.47
Vermont 204,163.90 0.08 3 0.09
Virginia 7,445,308.28 2.89 96 3.03
Washington 6,585,734.78 2.55 56 1.77
West Virginia 694,212.89 0.27 11 0.35
Wisconsin 2,893,413.05 1.12 40 1.26
Wyoming 63,149.54 0.02 1 0.03
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
FICO SCORE:
*= 400 4,477,931.50 1.74 76 2.40
401 - 450 809,922.45 0.31 11 0.35
451 - 500 16,293,210.54 6.32 208 6.57
501 - 550 68,234,217.72 26.46 840 26.52
551 - 600 79,218,116.13 30.72 900 28.41
601 - 650 56,952,229.95 22.09 714 22.54
651 - 700 22,605,703.39 8.77 293 9.25
701 - 750 6,681,198.76 2.59 86 2.71
751 - 800 2,455,119.16 0.95 37 1.17
** 800 119,924.00 0.05 3 0.09
-------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
===============================================================================
Credit Grade:
A 34,349,725.60 13.32 444 14.02
* Less than
** More than
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
A+ 20,440,041.65 7.93 210 6.63
A- 103,338,581.82 40.08 1,177 37.15
B 57,046,980.72 22.12 712 22.47
C 32,805,766.09 12.72 487 15.37
D 9,866,477.72 3.83 138 4.36
-------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
=================================================================================================
Delinquency:
Current 255,015,674.24 98.90 3,136 98.99
Delq: 30 Days 2,831,899.36 1.10 32 1.01
-------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
=================================================================================================
Balloon Flag:
Balloon 164,527,659.59 63.81 1,895 59.82
Fully Amortizing 93,319,914.01 36.19 1,273 40.18
-------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
=================================================================================================
Lien Position:
First Lien 247,468,486.09 95.97 2,933 92.58
Second Lien 10,379,087.51 4.03 235 7.42
-------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
=================================================================================================
PREPAY CODE:
1 Year - 5% of Prepayment Amo 1,002,276.25 0.39 11 0.35
1 Year - 6 Months Advance Int 2,816,349.73 1.09 28 0.88
2 Year - 6 Months Advance Int 4,891,051.78 1.90 44 1.39
2.5 Year - 6 Months Advance I 34,000.00 0.01 1 0.03
3 Year - 3 Months Advance Int 179,895.57 0.07 4 0.13
3 Year - 6 Months Advance Int 34,801,189.91 13.50 361 11.40
3.5 Year - 6 Months Advance I 82,952.16 0.03 1 0.03
4 Year - 6 Months Advance Int 1,132,014.91 0.44 11 0.35
5 Year - 6 Months Advance Int 144,210,903.54 55.93 1,798 56.76
No Prepayment Penalty 47,641,442.69 18.48 649 20.49
Penalty in accordance with St 21,055,497.06 8.17 260 8.21
-------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
=================================================================================================
Section 32 Loans:
No 257,025,645.80 99.68 3,153 99.53
Yes 821,927.80 0.32 15 0.47
------------------------------------------------------------------------------------------------------
TOTAL 257,847,573.60 100.00 3,168 100.00
======================================================================================================
</TABLE>
<PAGE>
FOR INTERNAL USE ONLY
ALL AMOUNTS SUBJECT TO CHANGE
PRELIMINARY INFORMATION SHEET
9/27/00
Saxon Asset Securities Trust (SAST) 2000-3: Group II Subgroup A
09/01/2000 SCHEDULED BALANCES
FIXED/ARM: ARM
TOTAL CURRENT BALANCE: 125,849,931.79
NUMBER OF LOANS: 1,198
<TABLE>
<CAPTION>
AVG/WAVG MIN MAX
<S> <C> <C> <C>
AVG ORIGINAL BALANCE: $105,145.15 $18,900.00 $350,000.00
AVG CURRENT BALANCE: $105,050.03 $18,895.42 $348,286.70
WAVG GROSS COUPON: 10.857 % 7.875 15.990 %
WAVG GROSS MARGIN: 6.304 % 2.500 9.490 %
WAVG FIRST PERIOD RATE CAP: 2.199 % 1.000 3.000 %
WAVG PERIOD RATE CAP: 1.151 % 1.000 3.000 %
WAVG LIFE FLOOR: 10.784 % 6.000 15.990 %
WAVG LIFE CAP: 17.290 % 13.875 22.062 %
WAVG COMBINED ORIGINAL LTV: 77.99 % 13.33 95.00 %
WAVG FICO SCORE: 572 0 803
WAVG MONTHS TO ROLL: 27.88 months 3.00 37.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG REMAINING TERM: 358 months 346 360 months
WAVG SEASONING: 2 months 0 14 months
WAVG REMAIN AMORT TERM: 358 months 233 360 months
TOP STATE CONCENTRATIONS ($): 27.17 % California, 6.54 % Illinois, 5.78 % Colorado
MAXIMUM ZIP CODE CONCENTRATION ($): 0.59 % 94544 (Hayward, CA)
</TABLE>
FIRST PAY DATE: Aug 01, 1999 Nov 01, 2000
MATURE DATE: Jul 01, 2029 Oct 01, 2030
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL PCT($) # OF LOANS PCT(#)
Current Balance:
<S> <C> <C> <C> <C>
18,895.42 - 25,000.00 189,569.03 0.15 9 0.75
25,000.01 - 50,000.00 6,449,640.93 5.12 162 13.52
50,000.01 - 75,000.00 17,259,800.21 13.71 276 23.04
75,000.01 - 100,000.00 17,738,409.58 14.09 203 16.94
100,000.01 - 125,000.00 18,819,083.30 14.95 168 14.02
125,000.01 - 150,000.00 20,448,639.99 16.25 150 12.52
150,000.01 - 175,000.00 11,606,110.61 9.22 72 6.01
175,000.01 - 200,000.00 12,506,960.76 9.94 67 5.59
200,000.01 - 225,000.00 10,447,919.12 8.30 49 4.09
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
225,000.01 - 250,000.00 7,915,673.59 6.29 33 2.75
250,000.01 - 275,000.00 1,526,329.55 1.21 6 0.50
275,000.01 - 300,000.00 287,667.39 0.23 1 0.08
300,000.01 - 325,000.00 305,841.03 0.24 1 0.08
325,000.01 - 348,286.70 348,286.70 0.28 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Current Interest Rates:
<S> <C> <C> <C> <C>
7.875 - 8.000 445,394.17 0.35 2 0.17
8.001 - 8.250 242,387.07 0.19 3 0.25
8.251 - 8.500 638,615.53 0.51 4 0.33
8.501 - 8.750 978,812.66 0.78 7 0.58
8.751 - 9.000 3,222,494.40 2.56 26 2.17
9.001 - 9.250 2,720,368.86 2.16 21 1.75
9.251 - 9.500 6,038,026.62 4.80 45 3.76
9.501 - 9.750 5,546,061.08 4.41 42 3.51
9.751 - 10.000 12,270,716.27 9.75 103 8.60
10.001 - 10.250 8,414,952.21 6.69 74 6.18
10.251 - 10.500 14,087,409.86 11.19 113 9.43
10.501 - 10.750 11,130,172.70 8.84 99 8.26
10.751 - 11.000 11,933,427.76 9.48 118 9.85
11.001 - 11.250 6,453,980.42 5.13 74 6.18
11.251 - 11.500 9,773,173.24 7.77 94 7.85
11.501 - 11.750 6,993,370.06 5.56 76 6.34
11.751 - 12.000 7,761,216.29 6.17 88 7.35
12.001 - 12.250 4,492,504.80 3.57 45 3.76
12.251 - 12.500 4,280,530.28 3.40 54 4.51
12.501 - 12.750 2,454,355.17 1.95 36 3.01
12.751 - 13.000 1,435,669.04 1.14 19 1.59
13.001 - 13.250 1,482,159.43 1.18 18 1.50
13.251 - 13.500 1,069,193.53 0.85 13 1.09
13.501 - 13.750 671,011.86 0.53 7 0.58
13.751 - 14.000 327,911.28 0.26 5 0.42
14.001 - 14.250 223,474.74 0.18 3 0.25
14.251 - 14.500 55,990.92 0.04 1 0.08
14.501 - 14.750 336,018.52 0.27 4 0.33
14.751 - 15.000 181,173.76 0.14 2 0.17
15.001 - 15.250 72,400.00 0.06 1 0.08
15.751 - 15.990 116,959.26 0.09 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Original LTV:
<S> <C> <C> <C> <C>
13.33 - 15.00 90,948.52 0.07 2 0.17
20.01 - 25.00 46,199.98 0.04 2 0.17
25.01 - 30.00 87,970.22 0.07 1 0.08
30.01 - 35.00 139,917.07 0.11 2 0.17
35.01 - 40.00 453,777.16 0.36 7 0.58
40.01 - 45.00 944,364.10 0.75 9 0.75
45.01 - 50.00 996,987.08 0.79 13 1.09
50.01 - 55.00 1,883,732.59 1.50 21 1.75
55.01 - 60.00 3,307,929.19 2.63 38 3.17
60.01 - 65.00 6,487,309.48 5.15 69 5.76
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
65.01 - 70.00 15,199,834.54 12.08 157 13.11
70.01 - 75.00 15,152,253.80 12.04 165 13.77
75.01 - 80.00 35,238,238.22 28.00 321 26.79
80.01 - 85.00 22,754,476.45 18.08 199 16.61
85.01 - 90.00 22,546,192.11 17.92 188 15.69
90.01 - 95.00 519,801.28 0.41 4 0.33
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Remaining Term:
<S> <C> <C> <C> <C>
346 - 348 44,308.60 0.04 1 0.08
349 - 360 125,805,623.19 99.96 1,197 99.92
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Remain Amort Term:
<S> <C> <C> <C> <C>
233 - 240 60,900.00 0.05 1 0.08
253 - 264 124,500.00 0.10 1 0.08
265 - 276 50,289.44 0.04 1 0.08
313 - 324 144,279.80 0.11 2 0.17
325 - 336 253,155.42 0.20 5 0.42
337 - 348 474,467.57 0.38 9 0.75
349 - 360 124,742,339.56 99.12 1,179 98.41
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Gross Margin:
<S> <C> <C> <C> <C>
2.500 - 2.500 212,550.52 0.17 1 0.08
3.251 - 3.500 96,954.75 0.08 1 0.08
3.751 - 4.000 118,672.94 0.09 3 0.25
4.001 - 4.250 1,312,460.99 1.04 10 0.83
4.251 - 4.500 2,164,269.77 1.72 20 1.67
4.501 - 4.750 986,758.47 0.78 8 0.67
4.751 - 5.000 4,268,691.37 3.39 41 3.42
5.001 - 5.250 7,752,053.96 6.16 61 5.09
5.251 - 5.500 10,441,217.31 8.30 87 7.26
5.501 - 5.750 10,178,381.94 8.09 89 7.43
5.751 - 6.000 17,993,161.07 14.30 164 13.69
6.001 - 6.250 8,446,196.53 6.71 79 6.59
6.251 - 6.500 13,337,604.67 10.60 129 10.77
6.501 - 6.750 10,567,656.55 8.40 106 8.85
6.751 - 7.000 12,982,321.19 10.32 124 10.35
7.001 - 7.250 8,900,541.80 7.07 95 7.93
7.251 - 7.500 5,971,717.29 4.75 61 5.09
7.501 - 7.750 2,311,953.19 1.84 26 2.17
7.751 - 8.000 3,140,110.95 2.50 38 3.17
8.001 - 8.250 2,202,699.04 1.75 22 1.84
8.251 - 8.500 492,052.72 0.39 6 0.50
8.501 - 8.750 488,449.49 0.39 9 0.75
8.751 - 9.000 774,150.69 0.62 11 0.92
9.001 - 9.250 523,026.26 0.42 4 0.33
9.251 - 9.490 186,278.33 0.15 3 0.25
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Lifetime Rate Cap:
13.875 - 14.000 445,394.17 0.35 2 0.17
14.001 - 14.250 101,854.99 0.08 2 0.17
14.251 - 14.500 318,011.31 0.25 2 0.17
14.501 - 14.750 889,474.23 0.71 6 0.50
14.751 - 15.000 2,904,602.49 2.31 24 2.00
15.001 - 15.250 2,212,740.29 1.76 16 1.34
15.251 - 15.500 4,600,008.37 3.66 35 2.92
15.501 - 15.750 3,946,733.38 3.14 30 2.50
15.751 - 16.000 7,885,605.77 6.27 68 5.68
16.001 - 16.250 5,683,175.14 4.52 52 4.34
16.251 - 16.500 11,296,241.92 8.98 88 7.35
16.501 - 16.750 7,468,420.83 5.93 67 5.59
16.751 - 17.000 11,965,644.16 9.51 110 9.18
17.001 - 17.250 6,953,267.52 5.53 68 5.68
17.251 - 17.500 8,887,244.62 7.06 81 6.76
17.501 - 17.750 9,055,908.48 7.20 91 7.60
17.751 - 18.000 8,676,098.52 6.89 98 8.18
18.001 - 18.250 4,374,904.19 3.48 53 4.42
18.251 - 18.500 7,269,662.85 5.78 74 6.18
18.501 - 18.750 3,960,131.04 3.15 42 3.51
18.751 - 19.000 4,328,437.70 3.44 43 3.59
19.001 - 19.250 3,253,115.04 2.58 31 2.59
19.251 - 19.500 2,593,794.77 2.06 33 2.75
19.501 - 19.750 1,915,095.48 1.52 26 2.17
19.751 - 20.000 1,050,690.30 0.83 13 1.09
20.001 - 20.250 1,276,877.96 1.01 14 1.17
20.251 - 20.500 921,985.22 0.73 10 0.83
20.501 - 20.750 538,020.09 0.43 5 0.42
20.751 - 21.000 321,529.86 0.26 5 0.42
21.001 - 21.250 173,892.40 0.14 2 0.17
21.251 - 21.500 55,990.92 0.04 1 0.08
21.501 - 21.750 336,018.52 0.27 4 0.33
21.751 - 22.000 116,959.26 0.09 1 0.08
22.001 - 22.062 72,400.00 0.06 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Lifetime Rate Floor:
6.000 - 6.000 206,331.27 0.16 1 0.08
6.251 - 6.500 221,259.87 0.18 1 0.08
6.501 - 6.750 180,405.00 0.14 1 0.08
6.751 - 7.000 83,505.91 0.07 1 0.08
7.251 - 7.500 758,090.85 0.60 5 0.42
7.501 - 7.750 122,285.32 0.10 1 0.08
7.751 - 8.000 858,583.76 0.68 6 0.50
8.001 - 8.250 857,727.63 0.68 9 0.75
8.251 - 8.500 707,015.53 0.56 5 0.42
8.501 - 8.750 1,631,468.27 1.30 13 1.09
8.751 - 9.000 3,178,945.36 2.53 26 2.17
9.001 - 9.250 2,994,563.34 2.38 24 2.00
9.251 - 9.500 5,209,217.84 4.14 41 3.42
9.501 - 9.750 5,423,775.76 4.31 41 3.42
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
9.751 - 10.000 11,857,526.68 9.42 99 8.26
10.001 - 10.250 7,799,611.65 6.20 68 5.68
10.251 - 10.500 14,136,324.48 11.23 113 9.43
10.501 - 10.750 10,297,112.09 8.18 92 7.68
10.751 - 11.000 11,844,561.81 9.41 116 9.68
11.001 - 11.250 6,179,785.94 4.91 71 5.93
11.251 - 11.500 9,671,540.38 7.68 93 7.76
11.501 - 11.750 6,993,370.06 5.56 76 6.34
11.751 - 12.000 7,554,885.02 6.00 87 7.26
12.001 - 12.250 4,492,504.80 3.57 45 3.76
12.251 - 12.500 4,163,215.66 3.31 53 4.42
12.501 - 12.750 2,454,355.17 1.95 36 3.01
12.751 - 13.000 1,456,869.04 1.16 20 1.67
13.001 - 13.250 1,482,159.43 1.18 18 1.50
13.251 - 13.500 1,069,193.53 0.85 13 1.09
13.501 - 13.750 671,011.86 0.53 7 0.58
13.751 - 14.000 306,711.28 0.24 4 0.33
14.001 - 14.250 223,474.74 0.18 3 0.25
14.251 - 14.500 55,990.92 0.04 1 0.08
14.501 - 14.750 336,018.52 0.27 4 0.33
14.751 - 15.000 181,173.76 0.14 2 0.17
15.001 - 15.250 72,400.00 0.06 1 0.08
15.751 - 15.990 116,959.26 0.09 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Next Rate Adjust Date:
Dec 2000 153,793.45 0.12 1 0.08
Feb 2001 198,008.55 0.16 1 0.08
Jun 2001 160,779.91 0.13 1 0.08
Jul 2001 173,055.75 0.14 2 0.17
Nov 2001 141,941.67 0.11 2 0.17
Dec 2001 134,350.38 0.11 1 0.08
Jan 2002 126,448.67 0.10 1 0.08
Feb 2002 318,704.51 0.25 2 0.17
Mar 2002 859,333.04 0.68 9 0.75
Apr 2002 1,313,161.80 1.04 11 0.92
May 2002 1,777,980.01 1.41 23 1.92
Jun 2002 10,158,681.38 8.07 96 8.01
Jul 2002 20,751,028.57 16.49 200 16.69
Aug 2002 19,283,761.62 15.32 190 15.86
Sep 2002 10,361,850.00 8.23 96 8.01
Oct 2002 342,366.71 0.27 5 0.42
Dec 2002 338,816.64 0.27 4 0.33
Jan 2003 316,830.62 0.25 3 0.25
Feb 2003 423,165.15 0.34 3 0.25
Mar 2003 933,839.53 0.74 6 0.50
Apr 2003 455,392.45 0.36 5 0.42
May 2003 1,680,040.03 1.33 18 1.50
Jun 2003 9,323,834.92 7.41 82 6.84
Jul 2003 14,756,455.18 11.73 149 12.44
Aug 2003 19,439,561.25 15.45 179 14.94
Sep 2003 11,542,475.00 9.17 105 8.76
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Oct 2003 384,275.00 0.31 3 0.25
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Occupancy Type:
Primary 120,602,771.18 95.83 1,131 94.41
Investor 5,181,318.87 4.12 66 5.51
Second Home 65,841.74 0.05 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Documentation Type:
Full Documentation 91,947,509.55 73.06 895 74.71
STATED DOCUMENTATION 26,651,359.53 21.18 237 19.78
Limited Documentation 7,174,092.16 5.70 64 5.34
No Ratio 76,970.55 0.06 2 0.17
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Loan Purpose:
Cash Out Refinance 66,366,339.68 52.73 636 53.09
Purchase 46,373,530.31 36.85 440 36.73
Refinance 13,110,061.80 10.42 122 10.18
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Property Type:
Single Family Detached 98,973,307.97 78.64 939 78.38
PUD 9,348,132.23 7.43 68 5.68
Condominium 7,173,506.26 5.70 77 6.43
Two-Four Family 6,985,881.74 5.55 66 5.51
Manufactured Housing 1,610,683.40 1.28 23 1.92
Single Family Attached 1,429,238.08 1.14 21 1.75
Townhouse 329,182.11 0.26 4 0.33
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Loan Types:
1 YR CMT 289,527.06 0.23 2 0.17
2/28 6 Mo LIBOR ARM 65,571,750.25 52.10 636 53.09
3/1 ARM 264,874.50 0.21 2 0.17
3/27 6 Mo LIBOR ARM 59,371,977.98 47.18 556 46.41
6 Mo LIBOR ARM 30 Yr 351,802.00 0.28 2 0.17
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Index:
1 YR CMT 554,401.56 0.44 4 0.33
6 MO LIBOR 125,295,530.23 99.56 1,194 99.67
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
State Distribution:
Alaska 325,717.29 0.26 4 0.33
Arizona 2,623,481.10 2.08 22 1.84
Arkansas 281,555.88 0.22 5 0.42
California 34,187,320.31 27.17 226 18.86
Colorado 7,272,100.36 5.78 60 5.01
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Connecticut 2,878,211.78 2.29 26 2.17
Delaware 700,479.79 0.56 7 0.58
District of Columbia 255,679.59 0.20 3 0.25
Florida 6,991,873.47 5.56 70 5.84
Georgia 3,156,395.88 2.51 27 2.25
Hawaii 1,797,933.74 1.43 10 0.83
Idaho 407,684.98 0.32 4 0.33
Illinois 8,232,412.35 6.54 84 7.01
Indiana 3,028,149.20 2.41 38 3.17
Iowa 1,129,689.20 0.90 19 1.59
Kansas 1,095,760.81 0.87 13 1.09
Kentucky 935,474.92 0.74 15 1.25
Louisiana 1,193,781.52 0.95 13 1.09
Maryland 721,925.92 0.57 8 0.67
Massachusetts 574,959.51 0.46 5 0.42
Michigan 6,478,328.38 5.15 86 7.18
Minnesota 3,787,994.48 3.01 38 3.17
Mississippi 518,395.68 0.41 7 0.58
Missouri 1,321,587.10 1.05 18 1.50
Montana 58,000.00 0.05 1 0.08
Nebraska 200,747.69 0.16 3 0.25
Nevada 1,760,606.73 1.40 15 1.25
New Jersey 1,461,731.21 1.16 15 1.25
New Mexico 432,045.88 0.34 5 0.42
New York 1,077,513.25 0.86 7 0.58
North Carolina 1,488,237.84 1.18 18 1.50
Ohio 4,814,197.29 3.83 66 5.51
Oklahoma 1,089,084.14 0.87 16 1.34
Oregon 2,245,706.34 1.78 20 1.67
Pennsylvania 3,628,975.81 2.88 52 4.34
Rhode Island 31,349.42 0.02 1 0.08
South Carolina 312,606.76 0.25 4 0.33
Tennessee 2,237,796.10 1.78 28 2.34
Texas 4,036,305.20 3.21 42 3.51
Utah 2,346,090.86 1.86 19 1.59
Vermont 131,400.00 0.10 1 0.08
Virginia 1,132,888.71 0.90 11 0.92
Washington 6,019,263.04 4.78 47 3.92
West Virginia 297,640.86 0.24 4 0.33
Wisconsin 1,150,851.42 0.91 15 1.25
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
FICO SCORE:
<S> <C> <C> <C> <C>
*= 400 2,280,390.89 1.81 35 2.92
401 - 450 115,990.09 0.09 2 0.17
451 - 500 8,543,785.15 6.79 84 7.01
501 - 550 39,345,049.73 31.26 395 32.97
551 - 600 43,318,448.06 34.42 394 32.89
601 - 650 21,741,993.63 17.28 199 16.61
651 - 700 7,085,074.38 5.63 62 5.18
701 - 750 2,337,773.89 1.86 19 1.59
751 - 800 940,893.89 0.75 7 0.58
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
> 800 140,532.08 0.11 1 0.08
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Credit Grade:
A 3,676,293.80 2.92 34 2.84
A+ 2,944,263.08 2.34 24 2.00
A- 53,787,795.62 42.74 456 38.06
B 34,069,645.23 27.07 325 27.13
C 23,396,360.75 18.59 270 22.54
D 7,975,573.31 6.34 89 7.43
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Delinquency:
Current 124,436,415.96 98.88 1,187 99.08
Delq: 30 Days 1,413,515.83 1.12 11 0.92
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Lien Position:
First Lien 125,849,931.79 100.00 1,198 100.00
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
PREPAY CODE:
1 Year - 6 Months Advance Int 1,610,040.22 1.28 12 1.00
2 Year - 6 Months Advance Int 40,197,313.44 31.94 365 30.47
3 Year - 3 Months Advance Int 119,378.04 0.09 2 0.17
3 Year - 6 Months Advance Int 44,719,327.71 35.53 415 34.64
4 Year - 6 Months Advance Int 348,505.48 0.28 3 0.25
5 Year - 6 Months Advance Int 16,499,254.13 13.11 176 14.69
No Prepayment Penalty 16,206,101.94 12.88 155 12.94
Penalty in accordance with St 6,150,010.83 4.89 70 5.84
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
Section 32 Loans:
No 125,849,931.79 100.00 1,198 100.00
------------------------------------------------------------------------------------------------------
TOTAL 125,849,931.79 100.00 1,198 100.00
======================================================================================================
</TABLE>
* Less Than
<PAGE>
FOR INTERNAL USE ONLY
ALL AMOUNTS SUBJECT TO CHANGE
PRELIMINARY INFORMATION SHEET
9/27/00
Saxon Asset Securities Trust (SAST) 2000-3: Group II Subgroup B
09/01/2000 SCHEDULED BALANCES
FIXED/ARM: ARM
TOTAL CURRENT BALANCE: 125,849,798.47
NUMBER OF LOANS: 828
<TABLE>
<CAPTION>
AVG/WAVG MIN MAX
<S> <C> <C> <C>
AVG ORIGINAL BALANCE: $152,125.89 $23,920.00 $950,000.00
AVG CURRENT BALANCE: $151,992.51 $23,910.74 $950,000.00
WAVG GROSS COUPON: 10.742% 8.150 14.937%
WAVG GROSS MARGIN: 6.096% 3.750 9.990%
WAVG FIRST PERIOD RATE CAP: 2.144% 1.000 3.000%
WAVG PERIOD RATE CAP: 1.154% 1.000 3.000%
WAVG LIFE FLOOR: 10.663% 6.125 14.937%
WAVG LIFE CAP: 17.205% 14.150 21.937%
WAVG COMBINED ORIGINAL LTV: 77.32% 4.98 95.00%
WAVG FICO SCORE: 579 0 799
WAVG MONTHS TO ROLL: 28.61 months 10.00 57.00 months
WAVG ORIGINAL TERM: 360 months 360 360 months
WAVG REMAINING TERM: 359 months 346 360 months
WAVG SEASONING: 1 months 0 14 months
WAVG REMAIN AMORT TERM: 358 months 238 360 months
</TABLE>
TOP STATE CONCENTRATIONS ($): 43.80% California, 7.09% Illinois, 3.65% Florida
MAXIMUM ZIP CODE CONCENTRATION ($): 1.18% 92677 (Laguna Beach, CA)
FIRST PAY DATE: Aug 01, 1999 Nov 01, 2000
MATURE DATE: Jul 01, 2029 Oct 01, 2030
<TABLE>
<CAPTION>
CURRENT
PRINCIPAL BAL PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
Current Balance:
23,910.74 - 25,000.00 72,392.19 0.06 3 0.36
25,000.01 - 50,000.00 4,070,853.93 3.23 99 11.96
50,000.01 - 75,000.00 8,117,478.21 6.45 127 15.34
75,000.01 - 100,000.00 11,053,306.75 8.78 126 15.22
100,000.01 - 125,000.00 10,725,366.76 8.52 96 11.59
125,000.01 - 150,000.00 11,645,590.58 9.25 85 10.27
150,000.01 - 175,000.00 8,008,248.37 6.36 50 6.04
175,000.01 - 200,000.00 7,144,995.65 5.68 38 4.59
200,000.01 - 225,000.00 6,742,619.96 5.36 32 3.86
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
225,000.01 - 250,000.00 3,788,238.27 3.01 16 1.93
250,000.01 - 275,000.00 8,464,305.84 6.73 32 3.86
275,000.01 - 300,000.00 10,632,553.99 8.45 37 4.47
300,000.01 - 325,000.00 6,926,691.64 5.50 22 2.66
325,000.01 - 350,000.00 6,734,374.16 5.35 20 2.42
350,000.01 - 375,000.00 5,124,285.46 4.07 14 1.69
375,000.01 - 400,000.00 773,786.36 0.61 2 0.24
400,000.01 - 425,000.00 831,368.91 0.66 2 0.24
425,000.01 - 450,000.00 1,727,320.32 1.37 4 0.48
450,000.01 - 475,000.00 2,807,386.88 2.23 6 0.72
475,000.01 - 500,000.00 981,590.26 0.78 2 0.24
500,000.01 - 525,000.00 1,045,646.57 0.83 2 0.24
525,000.01 - 550,000.00 1,054,880.68 0.84 2 0.24
550,000.01 - 575,000.00 1,128,806.55 0.90 2 0.24
575,000.01 - 600,000.00 1,178,739.91 0.94 2 0.24
625,000.01 - 650,000.00 630,000.00 0.50 1 0.12
675,000.01 - 700,000.00 2,739,615.95 2.18 4 0.48
725,000.01 - 750,000.00 749,354.32 0.60 1 0.12
925,000.01 - 950,000.00 950,000.00 0.75 1 0.12
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Current Interest Rates:
<S> <C> <C> <C> <C>
8.150 - 8.250 620,191.47 0.49 4 0.48
8.251 - 8.500 596,824.05 0.47 2 0.24
8.501 - 8.750 1,006,029.63 0.80 5 0.60
8.751 - 9.000 3,742,031.95 2.97 20 2.42
9.001 - 9.250 3,030,822.57 2.41 16 1.93
9.251 - 9.500 6,597,823.57 5.24 35 4.23
9.501 - 9.750 7,563,416.57 6.01 45 5.43
9.751 - 10.000 15,301,571.89 12.16 83 10.02
10.001 - 10.250 7,597,446.23 6.04 47 5.68
10.251 - 10.500 13,073,975.35 10.39 73 8.82
10.501 - 10.750 9,003,385.11 7.15 62 7.49
10.751 - 11.000 16,673,553.25 13.25 101 12.20
11.001 - 11.250 7,394,882.88 5.88 46 5.56
11.251 - 11.500 6,625,114.01 5.26 50 6.04
11.501 - 11.750 5,649,764.52 4.49 54 6.52
11.751 - 12.000 5,996,329.09 4.76 56 6.76
12.001 - 12.250 3,321,950.87 2.64 24 2.90
12.251 - 12.500 4,615,302.98 3.67 42 5.07
12.501 - 12.750 3,289,807.42 2.61 24 2.90
12.751 - 13.000 664,909.68 0.53 9 1.09
13.001 - 13.250 558,980.00 0.44 4 0.48
13.251 - 13.500 850,001.61 0.68 10 1.21
13.501 - 13.750 1,037,751.78 0.82 6 0.72
13.751 - 14.000 360,630.87 0.29 3 0.36
14.001 - 14.250 439,018.86 0.35 3 0.36
14.251 - 14.500 24,496.02 0.02 1 0.12
14.501 - 14.750 40,000.00 0.03 1 0.12
14.751 - 14.937 173,786.24 0.14 2 0.24
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Original LTV:
<S> <C> <C> <C> <C>
4.98 - 5.00 104,453.67 0.08 1 0.12
5.01 - 10.00 44,953.17 0.04 1 0.12
15.01 - 20.00 49,961.15 0.04 1 0.12
20.01 - 25.00 115,432.64 0.09 2 0.24
25.01 - 30.00 188,000.00 0.15 2 0.24
35.01 - 40.00 194,136.37 0.15 3 0.36
40.01 - 45.00 807,261.54 0.64 6 0.72
45.01 - 50.00 1,636,066.53 1.30 11 1.33
50.01 - 55.00 1,100,899.33 0.87 8 0.97
55.01 - 60.00 3,710,955.19 2.95 25 3.02
60.01 - 65.00 8,244,149.16 6.55 52 6.28
65.01 - 70.00 13,306,155.79 10.57 80 9.66
70.01 - 75.00 20,706,204.08 16.45 126 15.22
75.01 - 80.00 34,977,501.43 27.79 220 26.57
80.01 - 85.00 19,418,933.02 15.43 142 17.15
85.01 - 90.00 21,024,364.58 16.71 146 17.63
90.01 - 95.00 220,370.82 0.18 2 0.24
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Remaining Term:
<S> <C> <C> <C> <C>
346 - 348 365,897.44 0.29 3 0.36
349 - 360 125,483,901.03 99.71 825 99.64
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Remain Amort Term:
<S> <C> <C> <C> <C>
238 - 240 346,707.83 0.28 2 0.24
241 - 252 102,305.36 0.08 1 0.12
289 - 300 168,959.01 0.13 1 0.12
325 - 336 102,293.34 0.08 1 0.12
337 - 348 472,294.20 0.38 4 0.48
349 - 360 124,657,238.73 99.05 819 98.91
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Gross Margin:
<S> <C> <C> <C> <C>
3.750 - 3.750 81,000.00 0.06 1 0.12
3.751 - 4.000 1,018,756.84 0.81 5 0.60
4.001 - 4.250 2,266,232.30 1.80 7 0.85
4.251 - 4.500 4,368,693.21 3.47 20 2.42
4.501 - 4.750 2,694,890.97 2.14 12 1.45
4.751 - 5.000 8,679,999.80 6.90 42 5.07
5.001 - 5.250 12,225,538.19 9.71 70 8.45
5.251 - 5.500 8,456,306.51 6.72 53 6.40
5.501 - 5.750 8,722,488.97 6.93 66 7.97
5.751 - 6.000 14,607,247.58 11.61 108 13.04
6.001 - 6.250 8,225,317.50 6.54 52 6.28
6.251 - 6.500 13,424,106.42 10.67 88 10.63
6.501 - 6.750 9,860,157.40 7.83 74 8.94
6.751 - 7.000 13,100,545.63 10.41 89 10.75
7.001 - 7.250 6,061,864.05 4.82 46 5.56
7.251 - 7.500 4,302,565.18 3.42 38 4.59
7.501 - 7.750 2,136,786.98 1.70 12 1.45
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
7.751 - 8.000 2,233,005.53 1.77 21 2.54
8.001 - 8.250 1,719,078.16 1.37 11 1.33
8.251 - 8.500 942,602.48 0.75 6 0.72
8.501 - 8.750 128,000.00 0.10 1 0.12
8.751 - 9.000 411,519.45 0.33 4 0.48
9.001 - 9.250 149,962.88 0.12 1 0.12
9.751 - 9.990 33,132.44 0.03 1 0.12
--------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
============================================================================================
Lifetime Rate Cap:
14.150 - 14.250 290,618.10 0.23 2 0.24
14.251 - 14.500 265,932.05 0.21 1 0.12
14.501 - 14.750 686,600.51 0.55 4 0.48
14.751 - 15.000 2,750,130.43 2.19 15 1.81
15.001 - 15.250 2,896,549.39 2.30 15 1.81
15.251 - 15.500 5,395,084.88 4.29 27 3.26
15.501 - 15.750 6,219,726.96 4.94 37 4.47
15.751 - 16.000 10,983,566.47 8.73 57 6.88
16.001 - 16.250 5,006,963.79 3.98 33 3.99
16.251 - 16.500 7,932,560.98 6.30 49 5.92
16.501 - 16.750 6,658,981.47 5.29 45 5.43
16.751 - 17.000 13,245,451.12 10.52 85 10.27
17.001 - 17.250 5,348,310.46 4.25 34 4.11
17.251 - 17.500 9,933,968.60 7.89 61 7.37
17.501 - 17.750 7,675,161.30 6.10 63 7.61
17.751 - 18.000 11,433,784.68 9.09 79 9.54
18.001 - 18.250 6,380,177.98 5.07 40 4.83
18.251 - 18.500 5,221,488.95 4.15 41 4.95
18.501 - 18.750 2,387,266.32 1.90 22 2.66
18.751 - 19.000 3,802,589.98 3.02 30 3.62
19.001 - 19.250 2,042,674.30 1.62 13 1.57
19.251 - 19.500 2,723,288.83 2.16 23 2.78
19.501 - 19.750 3,041,370.48 2.42 20 2.42
19.751 - 20.000 288,061.92 0.23 5 0.60
20.001 - 20.250 611,600.23 0.49 5 0.60
20.251 - 20.500 804,270.40 0.64 9 1.09
20.501 - 20.750 881,047.99 0.70 5 0.60
20.751 - 21.000 317,889.01 0.25 2 0.24
21.001 - 21.250 386,398.63 0.31 2 0.24
21.251 - 21.500 24,496.02 0.02 1 0.12
21.501 - 21.750 40,000.00 0.03 1 0.12
21.751 - 21.937 173,786.24 0.14 2 0.24
--------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
============================================================================================
Lifetime Rate Floor:
6.125 - 6.250 109,548.81 0.09 1 0.12
7.001 - 7.250 290,000.00 0.23 1 0.12
7.251 - 7.500 1,234,345.14 0.98 2 0.24
7.501 - 7.750 172,457.03 0.14 3 0.36
7.751 - 8.000 569,160.83 0.45 4 0.48
8.001 - 8.250 756,111.47 0.60 5 0.60
8.251 - 8.500 1,819,629.15 1.45 8 0.97
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
8.501 - 8.750 1,280,924.73 1.02 7 0.85
8.751 - 9.000 4,421,782.80 3.51 21 2.54
9.001 - 9.250 2,740,822.57 2.18 15 1.81
9.251 - 9.500 5,647,823.57 4.49 34 4.11
9.501 - 9.750 7,281,410.73 5.79 41 4.95
9.751 - 10.000 14,782,372.21 11.75 80 9.66
10.001 - 10.250 7,461,526.23 5.93 46 5.56
10.251 - 10.500 11,851,170.25 9.42 67 8.09
10.501 - 10.750 8,678,528.86 6.90 59 7.13
10.751 - 11.000 15,709,457.26 12.48 99 11.96
11.001 - 11.250 7,394,882.88 5.88 46 5.56
11.251 - 11.500 6,625,114.01 5.26 50 6.04
11.501 - 11.750 5,649,764.52 4.49 54 6.52
11.751 - 12.000 5,996,329.09 4.76 56 6.76
12.001 - 12.250 3,321,950.87 2.64 24 2.90
12.251 - 12.500 4,615,302.98 3.67 42 5.07
12.501 - 12.750 3,289,807.42 2.61 24 2.90
12.751 - 13.000 664,909.68 0.53 9 1.09
13.001 - 13.250 558,980.00 0.44 4 0.48
13.251 - 13.500 850,001.61 0.68 10 1.21
13.501 - 13.750 1,037,751.78 0.82 6 0.72
13.751 - 14.000 360,630.87 0.29 3 0.36
14.001 - 14.250 439,018.86 0.35 3 0.36
14.251 - 14.500 24,496.02 0.02 1 0.12
14.501 - 14.750 40,000.00 0.03 1 0.12
14.751 - 14.937 173,786.24 0.14 2 0.24
--------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
============================================================================================
Next Rate Adjust Date:
Jul 2001 87,602.60 0.07 1 0.12
Aug 2001 102,293.34 0.08 1 0.12
Sep 2001 176,001.50 0.14 1 0.12
Mar 2002 356,356.63 0.28 2 0.24
Apr 2002 1,558,499.62 1.24 9 1.09
May 2002 877,542.70 0.70 9 1.09
Jun 2002 7,586,886.32 6.03 51 6.16
Jul 2002 17,501,943.58 13.91 119 14.37
Aug 2002 16,571,314.41 13.17 112 13.53
Sep 2002 17,242,392.22 13.70 129 15.58
Oct 2002 2,043,482.50 1.62 15 1.81
Dec 2002 374,746.74 0.30 1 0.12
Jan 2003 207,602.50 0.16 2 0.24
Mar 2003 145,745.12 0.12 1 0.12
Apr 2003 413,722.02 0.33 2 0.24
May 2003 816,108.02 0.65 8 0.97
Jun 2003 5,613,225.27 4.46 34 4.11
Jul 2003 13,702,691.86 10.89 80 9.66
Aug 2003 18,325,672.00 14.56 108 13.04
Sep 2003 21,443,290.87 17.04 136 16.43
Oct 2003 591,210.00 0.47 6 0.72
Jun 2005 111,468.65 0.09 1 0.12
--------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
============================================================================================
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Occupancy Type:
Primary 120,474,940.14 95.73 773 93.36
Investor 4,792,772.37 3.81 49 5.92
Second Home 582,085.96 0.46 6 0.72
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Documentation Type:
Full Documentation 84,342,340.27 67.02 615 74.28
STATED DOCUMENTATION 28,082,733.30 22.31 160 19.32
Limited Documentation 13,192,224.90 10.48 51 6.16
No Ratio 232,500.00 0.18 2 0.24
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Loan Purpose:
Cash Out Refinance 68,847,833.21 54.71 444 53.62
Purchase 46,293,606.34 36.78 305 36.84
Refinance 10,708,358.92 8.51 79 9.54
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Property Type:
Single Family Detached 107,182,920.20 85.17 686 82.85
PUD 9,795,421.34 7.78 55 6.64
Two-Four Family 3,646,334.13 2.90 36 4.35
Condominium 2,313,856.27 1.84 26 3.14
Single Family Attached 1,664,022.78 1.32 12 1.45
Manufactured Housing 741,441.06 0.59 8 0.97
Townhouse 505,802.69 0.40 5 0.60
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Loan Types:
2/28 6 Mo LIBOR ARM 64,104,315.42 50.94 449 54.23
3/27 6 Mo LIBOR ARM 61,634,014.40 48.97 378 45.65
5/25 6 Mo LIBOR ARM 111,468.65 0.09 1 0.12
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Index:
6 MO LIBOR 125,849,798.47 100.00 828 100.00
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
State Distribution:
Alaska 227,932.27 0.18 2 0.24
Arizona 3,307,227.58 2.63 22 2.66
Arkansas 35,987.44 0.03 1 0.12
California 55,119,367.81 43.80 243 29.35
Colorado 4,138,066.66 3.29 22 2.66
Connecticut 2,944,988.86 2.34 18 2.17
District of Columbia 81,000.00 0.06 1 0.12
Florida 4,599,219.54 3.65 39 4.71
Georgia 2,897,187.37 2.30 16 1.93
Hawaii 623,489.83 0.50 4 0.48
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Idaho 356,380.74 0.28 4 0.48
Illinois 8,925,702.48 7.09 73 8.82
Indiana 1,702,233.42 1.35 20 2.42
Iowa 1,241,823.43 0.99 11 1.33
Kansas 735,264.18 0.58 6 0.72
Kentucky 738,466.26 0.59 8 0.97
Louisiana 1,182,741.83 0.94 8 0.97
Maryland 1,831,572.13 1.46 7 0.85
Massachusetts 915,633.66 0.73 6 0.72
Michigan 3,432,172.07 2.73 47 5.68
Minnesota 2,902,301.67 2.31 28 3.38
Mississippi 184,047.25 0.15 3 0.36
Missouri 1,231,948.17 0.98 14 1.69
Montana 203,918.53 0.16 2 0.24
Nebraska 87,697.36 0.07 2 0.24
Nevada 1,801,783.90 1.43 11 1.33
New Hampshire 58,411.01 0.05 1 0.12
New Jersey 2,886,891.68 2.29 14 1.69
New Mexico 184,714.85 0.15 2 0.24
New York 128,000.00 0.10 1 0.12
North Carolina 183,641.61 0.15 2 0.24
Ohio 3,291,696.41 2.62 36 4.35
Oklahoma 689,727.48 0.55 9 1.09
Oregon 886,280.40 0.70 6 0.72
Pennsylvania 2,916,630.10 2.32 26 3.14
Rhode Island 229,537.58 0.18 3 0.36
South Carolina 411,833.38 0.33 5 0.60
Tennessee 981,053.39 0.78 13 1.57
Texas 3,037,019.96 2.41 28 3.38
Utah 1,199,930.20 0.95 11 1.33
Vermont 148,906.91 0.12 1 0.12
Virginia 2,221,774.33 1.77 14 1.69
Washington 4,077,369.79 3.24 28 3.38
West Virginia 135,000.00 0.11 1 0.12
Wisconsin 733,224.95 0.58 9 1.09
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
FICO SCORE:
* = 400 1,827,130.42 1.45 23 2.78
451 - 500 7,030,352.50 5.59 60 7.25
501 - 550 37,451,617.60 29.76 268 32.37
551 - 600 41,486,922.75 32.97 259 31.28
601 - 650 22,819,525.81 18.13 134 16.18
651 - 700 11,798,304.32 9.37 66 7.97
701 - 750 2,620,986.11 2.08 14 1.69
751 - 799 814,958.96 0.65 4 0.48
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Credit Grade:
A 7,499,405.88 5.96 34 4.11
A+ 2,781,194.99 2.21 17 2.05
A- 60,003,282.68 47.68 355 42.87
</TABLE>
* less than
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
B 33,296,562.42 26.46 235 28.38
C 18,100,343.77 14.38 151 18.24
D 4,169,008.73 3.31 36 4.35
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Delinquency:
Current 124,244,007.46 98.72 822 99.28
Delq: 30 Days 1,605,791.01 1.28 6 0.72
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Lien Position:
First Lien 125,849,798.47 100.00 828 100.00
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
PREPAY CODE:
1 Year - 5% of Prepayment Amo 101,738.43 0.08 1 0.12
1 Year - 6 Months Advance Int 4,345,256.47 3.45 18 2.17
2 Year - 6 Months Advance Int 40,552,154.33 32.22 260 31.40
3 Year - 6 Months Advance Int 43,618,441.60 34.66 290 35.02
4 Year - 6 Months Advance Int 49,714.85 0.04 1 0.12
5 Year - 6 Months Advance Int 15,379,475.62 12.22 103 12.44
No Prepayment Penalty 16,005,495.48 12.72 101 12.20
Penalty in accordance with St 5,797,521.69 4.61 54 6.52
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
Section 32 Loans:
No 125,528,143.53 99.74 822 99.28
Yes 321,654.94 0.26 6 0.72
------------------------------------------------------------------------------------------------------
TOTAL 125,849,798.47 100.00 828 100.00
======================================================================================================
</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
Exhibit 1. Underwriting Agreement dated September 13, 2000, among Saxon
Asset Securities Company, Saxon Mortgage Inc., Greenwich Capital Markets, Inc.,
Banc of America Securities LLC, Credit Suisse First Boston Corporation and
Prudential Securities Incorporated.
Exhibit 2 Trust Agreement dated September 1, 2000, among Saxon Asset
Securities Company, Saxon Mortgage, Inc., as Master Servicer, and Bankers Trust
Company, a New York corporation, as Trustee.
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
October 10, 2000
