SAXON ASSET SECURITIES TRUST 1997-2
15-15D, 1998-01-28
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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                     FORM 15


CERTIFICATION  AND NOTICE OF TERMINATION OF REGISTRATION  UNDER SECTION 12(g) OF
THE SECURITIES  EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER
SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.


                         Commission File Number 333-04127-04  

                      Saxon Asset Securities Trust 1997-2
             Mortgage Loan Asset Backed Certificates, Series 1997-2
             (Exact name of registrant as specified in its charter)

            4880 Cox Road, Glen Allen, Virginia 23060 (804) 967-7400
     (Address, including zip code, and telephone number, including area code, of
                   registrant's principal executive offices)

             Mortgage  Loan Asset Backed  Certificates,  Series 1997-2
            (Title of each class of securities covered by this Form)


                                      None
       (Titles of all other classes of securities for which a duty to file
                  reports under section 13(a) or 15(d) remains)

    Please  place  an X in  the  box(es)  to  designate,  the  appropriate  rule
provision(s) relied upon to terminate or suspend the duty to file reports:

  Rule 12g-4(a)(1)(i)                                 Rule 12h-3(b)(1)(i)     x
  Rule 12g-4(a)(1)(ii)                                Rule 12h-3(b)(1)(ii)
  Rule 12g-4(a)(2)(i)                                 Rule 12h-3(b)(2)(i)
  Rule 12g-4(a)(2)(ii)                                Rule 12h-3(b)(2)(ii)
                                                      Rule 15d-6

    Approximate  number of holders of record as of the  certification  or notice
date:  55

    Pursuant to the requirements of the Securities  Exchange Act of 1934, Issuer
of  the  Saxon  Asset  Securities   Trust  1997-2  Mortgage  Loan   Asset-Backed
Certificates,  Series 1997-2, has caused this  certification/notice to be signed
on its behalf by the undersigned duly authorized person.

Date:  January 28, 1998              By: /s/ Bradley D. Adams

                                         Bradley D. Adams, Vice President






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