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) :March 27,2000"
Saxon Asset Securities Trust 2000-1
" Mortgage Loan Asset Backed Certificates, Series 2000-1"
(Exact name of registrant as specified in its charter)
Virginia 333-59479-01 52-1785164
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) 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"
N/A
" (Former name or former address, if changed since last report.)"
Page 1 of 4
This report consists of 7 consecutively numbered pages.
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Item 5. Other Events.
"On October 25,2000 distributions were made to the Certificateholders."
Specific information with respect to the distributions is
filed as Exhibit 99.1. No other reportable transactions or
matters have occurred during the current reporting period.
Item 7. Financial Statements and Exhibits.
(c) The following exhibits are filed as part of this report:
" Statement to Certificateholders on October 25,2000 filed"
as Exhibit 99.1 hereto.
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"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 hereunto duly authorized.
SAXON ASSET SECURITIES TRUST 2000-1
MORTGAGE LOAN ASSET BACKED CERTIFICATES
SERIES 2000-1
"Date: October 25, 2000 By: /s/ Bradley D. Adams"
---------------
Bradley D. Adams
Sr. Vice President
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INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
" October 25,2000"
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Exhibit 99.1
" Monthly Certificateholder Statement on October 25,2000"
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<S> <C> <C> <C> <C> <C> <C>
Distribution Date: 25-Oct-00
Original Beginning Interest Certificates Certificates Applied Ending
Certificate Certificate Principal Interest Carry Forward Carryover Carryover Realized Loss Total Certificate
Class Cusip # Balance Balance Distribution Distribution Amount Amount Paid Amount Amount Distribution Balance
AF-1 805564FC0 100,000,000.00 81,370,294.60 3,604,213.38 514,328.07 - N/A N/A N/A 4,118,541.45 77,766,081.22
AF-2 805564FD8 42,000,000.00 42,000,000.00 - 269,850.00 - N/A N/A N/A 269,850.00 42,000,000.00
AF-3 805564FE6 40,000,000.00 40,000,000.00 - 258,500.00 - N/A N/A N/A 258,500.00 40,000,000.00
AF-4 805564FF3 30,000,000.00 30,000,000.00 - 201,875.00 - N/A N/A N/A 201,875.00 30,000,000.00
AF-5 805564FG1 21,914,000.00 21,914,000.00 - 151,663.14 - N/A N/A N/A 151,663.14 21,914,000.00
AF-6 805564FH9 26,000,000.00 26,000,000.00 - 173,441.67 - N/A N/A N/A 173,441.67 26,000,000.00
MF-1 805564FJ5 15,386,000.00 15,386,000.00 - 106,868.59 - N/A N/A - 106,868.59 15,386,000.00
MF-2 805564FK2 10,457,000.00 10,457,000.00 - 76,074.68 - N/A N/A - 76,074.68 10,457,000.00
BF-1 805564FL0 8,964,000.00 8,964,000.00 - 72,907.20 - N/A N/A - 72,907.20 8,964,000.00
BF-1A 805564FM8 4,034,000.00 1,909,732.71 307,465.63 14,307.08 - N/A N/A - 321,772.71 1,602,267.08
AV-1 805564FN6 128,000,000.00 116,986,429.69 1,362,038.84 668,955.70 - - - N/A 2,030,994.54 115,624,390.85
MV-1 805564FP1 13,600,000.00 13,600,000.00 - 79,921.31 - - - - 79,921.31 13,600,000.00
MV-2 805564FQ9 10,000,000.00 10,000,000.00 - 62,015.67 - - - - 62,015.67 10,000,000.00
BV-1 805564FR7 5,200,000.00 5,200,000.00 - 37,144.81 - - - - 37,144.81 5,200,000.00
BV-1A 805564FS5 3,200,000.00 1,438,351.60 223,054.27 10,985.41 - - - - 234,039.68 1,215,297.33
Class C 80556C2 N/A N/A N/A 255,435.50 N/A N/A N/A N/A 255,435.50 N/A
Class R 80556R2 N/A N/A N/A - N/A N/A N/A N/A - N/A
TOTALS 458,755,000.00 425,225,808.59 5,496,772.11 2,954,273.83 8,451,045.94 419,729,036.48
Group I 298,755,000.00 278,001,027.31 3,911,679.01 1,839,815.43 5,751,494.43 274,089,348.30
Group II 160,000,000.00 147,224,781.29 1,585,093.11 859,022.90 2,444,116.00 145,639,688.18
One Month LIBOR RATE 6.62188%
Factor Information per $1,000 of the Original Balance
Principal Interest Interest Certificates Certificates End Prin Current Pass
Class Cusip # Distribution Distribution Carry Forward Carryover Carryover Paid Balance Through Rate
AF-1 805564FC0 36.04213 5.14328 0.00000 N/A N/A 777.66081 7.58500%
AF-2 805564FD8 0.00000 6.42500 0.00000 N/A N/A 1,000.00000 7.71000%
AF-3 805564FE6 0.00000 6.46250 0.00000 N/A N/A 1,000.00000 7.75500%
AF-4 805564FF3 0.00000 6.72917 0.00000 N/A N/A 1,000.00000 8.07500%
AF-5 805564FG1 0.00000 6.92083 0.00000 N/A N/A 1,000.00000 8.30500%
AF-6 805564FH9 0.00000 6.67083 0.00000 N/A N/A 1,000.00000 8.00500%
MF-1 805564FJ5 0.00000 6.94583 0.00000 N/A N/A 1,000.00000 8.33500%
MF-2 805564FK2 0.00000 7.27500 0.00000 N/A N/A 1,000.00000 8.73000%
BF-1 805564FL0 0.00000 8.13333 0.00000 N/A N/A 1,000.00000 9.76000%
BF-1A 805564FM8 76.21855 3.54662 0.00000 N/A N/A 397.19065 8.99000%
AV-1 805564FN6 10.64093 5.22622 0.00000 0.00000 0.00000 903.31555 6.86188%
MV-1 805564FP1 0.00000 5.87657 0.00000 0.00000 0.00000 1,000.00000 7.05188%
MV-2 805564FQ9 0.00000 6.20157 0.00000 0.00000 0.00000 1,000.00000 7.44188%
BV-1 805564FR7 0.00000 7.14323 0.00000 0.00000 0.00000 1,000.00000 8.57188%
BV-1A 805564FS5 69.70446 3.43294 0.00000 0.00000 0.00000 379.78042 9.16500%
If there are any questions or comments, please contact:
Joan Dolce
Saxon Mortgage
4880 Cox Road
Glen Allen, VA 23060
(804) 967-5814
Investor Relations, contact Ivy Wolfe
visit our web site www.saxonmortgage.com
Group I Group II
Aggregate Scheduled Mortgage Principal Balance 276,523,799.78 147,625,342.39
Prepayment Amount 3,407,851.86 1,283,834.27
Liquidation Amount 71,989.29 286,927.34
Substitution Shortfall Amount - -
Repurchase Amounts - -
Other Recoveries - -
Extra Principal Distribution Amount 6,616.20 7,739.53
Applied Realized Loss Amount - -
Unpaid Realized Loss Amount - -
Group I Group II
Net Rate 9.86215% 9.66113%
Largest Mortgage Loan Balance 497,703.23 875,276.38
Servicing Fees 118,880.90 62,078.10
Master Servicing Fees 11,672.00 6,207.81
The Number and Aggregate Principal Balances
of all Delinquent Mortgage Loans as of the Remittance Date
Group I Group II
Category Number Percentage Principal Balance Number Percentage Principal Balance
30-59 Days 88 2.72186% 7,526,593.27 46 3.59626% 5,308,987.44
60-89 Days 13 0.34852% 963,729.28 7 0.33611% 496,188.48
90+ Days 9 0.22950% 634,631.02 4 0.23361% 344,870.98
Group I Group II
Number of Mortgage Loans in Foreclosure Proceedings 121 69
Scheduled Principal Balance of all Mortgage Loans in Foreclosure Proceedings 12,323,361.75 7,832,668.04
Number of Mortgage Loans in Foreclosure in Prior Month 111 65
Scheduled Principal Balance of all Mortgage Loans in Foreclosure in Prior Month 10,239,177.28 6,906,531.14
Group I Group II
Number of Mortgagors in Bankruptcy Proceedings 40 27
Scheduled Principal Balances of Mortgage Loans in Bankruptcy Proceedings 2,925,325.01 3,015,358.00
Group I Group II
Number of any REO Properties 16 7
Book Value of any REO Properties 1,360,071.02 651,441.73
Group I Group II
Servicer Number Principal Balance Number Principal Balance
Number of 60+ Delinquent Loans Meritech 184 16,961,915.77 105 11,543,011.40
Amount on Deposit in Asset Proceeds Account 8,451,045.94
Interest 3,499,149.45
Scheduled Principal 260,210.36
Unscheduled Principal 4,691,686.13
Group I Group II
Realized Losses for the current period 6,616.20 7,739.53
Cumulative Realized Losses 76,081.65 27,410.20
Applied Realized Losses - -
Unpaid Realized Losses - -
Group I Group II
Trigger Event Has not occurred Has not occurred
Subordinate Trigger Event Has not occurred Has not occurred
Overcollateralization Target Amount 8,962,731.54 4,400,026.15
Overcollateralization Amount 2,434,451.48 1,985,654.21
REO Properties
Group I
Loan Number Book Value Foreclosure Date Original LTV Ratio Paid Thru Date
11151867 94,327.66 04/17/2000 0.2 02/01/2000
11158870 58,938.50 05/19/2000 0.8 02/01/2000
11167085 497,703.23 04/11/2000 0.6803 02/01/2000
11167177 60,088.49 05/05/2000 0.7724 03/01/2000
11170391 51,546.98 07/10/2000 0.8 05/01/2000
11173716 132,376.18 04/24/2000 0.95 01/01/2000
11175652 50,790.11 05/09/2000 0.7907 02/01/2000
11175919 59,881.40 07/07/2000 0.8 05/01/2000
11176524 58,111.66 08/04/2000 0.6 06/01/2000
11177891 28,663.40 05/17/2000 0.5455 03/15/2000
11183202 55,075.61 06/21/2000 0.85 04/20/2000
11184249 31,405.41 05/09/2000 0.6 03/01/2000
11184615 35,911.06 08/14/2000 0.6 06/06/2000
11186294 91,724.63 07/11/2000 0.8 05/01/2000
11193383 29,958.12 07/06/2000 0.8 05/01/2000
11197042 23,568.58 07/10/2000 0.6857 05/01/2000
Group II
Loan Number Book Value Foreclosure Date Original LTV Ratio Paid Thru Date
11177167 69,946.74 05/09/2000 0.9 03/01/2000
11178789 142,656.57 04/03/2000 0.65 02/01/2000
11183110 160,668.16 09/01/2000 0.85 07/01/2000
11183893 37,467.71 07/10/2000 0.8 05/01/2000
11184554 145,761.94 10/02/2000 0.65 03/01/2000
11188102 55,093.59 04/24/2000 0.6 02/01/2000
11195423 39,847.02 07/10/2000 0.5 05/01/2000
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