July 31, 2000
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Saxon Asset Securities Trust 2000-2 Mortgage Loan Asset Backed
Certificates Series 2000-2;
File No. 333-35370.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust (the "Trust") created
pursuant to a trust agreement dated as of June 1, 2000 (the "Trust
Agreement") among Saxon Asset Securities Company (the "Registrant"), Saxon
Mortgage, Inc., as Master Servicer, and Bankers Trust Company, as
"Trustee").
The Certificates will be issued pursuant to the Trust Agreement. The
Saxon Asset Securities Trust 2000-2 Mortgage Loan Asset Backed
Certificates, Series 2000-2 (the "Certificates") will issue eight classes
of senior Certificates and twelve classes of subordinated certificates.
The assets of the trust will include two groups of mortgage loans secured
by one-to-four family residential properties. One group will consist of
fixed rate, first or second mortgage loans. The other group will consist
of adjustable rate, first mortgage loans. The trust will also hold cash
for the purchase of subsequent mortgage loans on or before August 11,
2000.
The Certificates in the aggregate evidence the entire beneficial ownership
in the Trust. The Certificates consist of the following: 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-2, Class AV-1, Calss MV-1, Class MV-2, Class BV-1,
Class BV-2, Class A-IO, Class PF-1, Class PV-1, Class C and Class R
Certificates.
The Offered Certificates were registered under the Securities Act of 1933,
as amended, by a Registration Statement on Form S-11 (File No.
333-35370). As a result, the Trust is subject to the filing requirements
of Section 15(d) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). The Trust intends to fulfill these filing requirements
in the manner described herein:
The Trust will file, promptly after each Distribution Date (as defined in
the Pooling and Servicing Agreement), a Current Report on Form 8-K in
substantially the form enclosed herewith, including as an exhibit thereto
the applicable Distribution Date report. Each such Current Report will
also disclose under Item 5 any matter occurring during the relevant
reporting period which would be reportable under Item 1, 2, 4 or 5 of
Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 247-6255.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Saxon Asset Securities Trust 2000-2
Mortgage Loan Asset Backed Certificates Series 2000-2.
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): July 25, 2000
SAXON ASSET SCEURITIES COMPANY,
as Depositor, Saxon Mortgage, Inc., as Master Servicer,
and Bankers Trust Company, as Trustee under the Trust Agreement
dated as of June 1, 2000 (the "Trust Agreement") and the
Standard Terms to Trust Agreement (February 2000 Edition) (the
"Standard Terms"), dated as of January 1, 2000, providing for
the issuance of the Saxon Asset Securities Trust 2000-2 Mortgage
Loan Asset Backed Certificates Series 2000-2.
SAXON ASSET SECURITIES TRUST 2000-2 MORTGAGE
LOAN ASSET BACKED CERTIFICATES SERIES 2000-2
(Exact name of Registrant as specified in its Charter)
VIRGINIA
(State or Other Jurisdiction of Incorporation)
333-35370
(Commission File Number) (I.R.S. Employer 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
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
July 25, 2000.
SIGNATURE
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.
Bankers Trust Company, not in its individual
capacity, but solely as a duly authorized
agent of the Registrant pursuant to the
Trust Agreement, dated as of June 1, 2000.
Date: July 31, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of July 25, 2000.
Saxon Asset Securities Trust 2000-2
Mortgage Loan Asset-Backed Certificates
July 25, 2000 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 12
4. Cred
>it Enhancement Report 15
5. Coll
>ateral Report 16
6. Deli
>nquency Report 19
7. REO
>Report 22
8. Prep
>ayment Report 23
9. Prep
>ayment Detail Report 26
10. Real
>ized Loss Report 28
11. Real
>ized Loss Detail Report 31
12. Trig
>gers, Adj. Rate Cert. and Miscellaneous Report 32
13. Addi
>tional Certificate Report 33
Tota
>l Number of Pages
> 33
CONTACTS
Adm
>inistrator: Barbara A Campbell
Dir
>ect Phone Number: (714)247-6278
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: Saxon
> Cut-Off Date:
> June 1, 2000
Certificate Insurer:
> Closing Date:
> June 16, 2000
Servicer(s): Saxon Master S
>ervicer First Payment Date:
> July 25, 2000
Meritech Mortgage
> Sub-Servicer
Underwriter(s): Banc Of America Sec
>urities LLC Underwriter Distribution Date:
> July 25, 2000
Greenwich Capital M
>arkets, Inc. Underwriter Record Date:
> June 14, 2000
Merrill Lynch & Co.
> Underwriter
Prudential Securiti
>es Incorporated Underwriter
Banc One Capital Ma
>rkets Underwriter
> Page 1 of 33
> (c) COPYRIGHT 2000 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
1
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
SX0002 200007
> 01.32E+08 3948741104812.5 0 0 1327 29 2
> 0 0 1672050 0 0 0 0 14 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 1
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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SX0002 200007
> 177235972 2335231104812.5 0 0 862 16 2
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> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 2
1
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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SX0002 200007
> 254558064 1613510 0 0 0 465 13 0
> 0 0968941.9 0 0 0 0 6 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
> sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3 t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
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>
> 14 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
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0 1410837 0 0 0 0 15 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 4053554 31 1672050 14 1410837 15 0 07.25E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0799268.2 0 0 0 0 9 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 2440044 18703108.6 8799268.2 9 0 04.75E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 611569 0 0 0 0 6 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 0 1613510 13968941.9 6 611569 6 0 0 2.5E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
> t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3 t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
75
>0 0 356.778
> 0 0 0.00566094
379587.9 8861879179993.7 0 0 75
>0 0 337.214
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
7.16E+08 7620 7545379587.9 8861879179993.7 0 0 75
>0 0 114.01236434.258029.14739951727046161370015511272.9311343.9292 2.969
>850.0214520.0580130.0354180.0071950.000189 0 0 0.005660945
>
> 0 0.00518831
278387.8 4722468158564.6 0 0 51
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
4.7E+08 5487 5436278387.8 4722468158564.6 0 0 51
>0 0 114.01157250.533987.85479606604566580045355728 229 337.2152.8523
>42 0 0 0 0 0 0 0 0.005188306
>
> 0 0.00656541
101200.1 413941121429.09 0 0 24
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
2.46E+08 2133 2109101200.1 413941121429.09 0 0 24
>0 0 079183.6924041.29260345132479581324659782 357356.77793.1947
>190.0622470.168335 0.102770.0208770.000549 0 0 0.006565408
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0 0.005660940.002335 0.00197 0 0.1
>05
0 0
>.1
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.0056609450.002335 0.00197 0 Jul-00 716.0560.1019
>95 0.01247 0.98753
> 0.01247 0.13979 0.13979 2.9698523.53492
0 0.005188310.001495 0.0017 0
BankruptREO Fixed Fixed Fixed
>
> Fixed Fixed Fixed
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.0051883060.0014950.001699 0 Jul-00470.29680.1008
>73 0.0102720.989728
> 0.0102720.116533 0.1165332.85234220.42764
0 0.006565410.0039430.002488 0
BankruptREO AdjustabAdjustabAdjust
>able
> Adjustable Adjustable Adjustable
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0.0065654080.0039430.002488 0 Jul-00245.75930.1041
>29 0.0166490.983351
> 0.0166490.182469 0.1824693.19471928.55784
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 10
> 0
23.534929041.872 0 1 0 0
> 0 0 0
> 3 3Collection Account Repor 12 3
> 0
>
> 4 4Credit Enhancement Repor 15 1
>
> 5 5Collateral Report 16 3
> 0
>
> 6 6Delinquency Report 19 3
> 0
>
> 7 7REO Report 22 1
>
> 8 Foreclosure Report 0
>
> 9 8Prepayment Report 23 3
> 0
>
> 10 9Prepayment Detail Report 26 2
>
> 11 10Realized Loss Report 28 3
> 0
>
> 12 11Realized Loss Detail Rep 31 1
>
> 13 12Triggers, Adj. Rate Cert 32 1
>
> 14 Other Related Information 0
>
> 15 13Additional Certificate R 33 1
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 33
Fixed Fixed Fixed
> Fixed Fixed
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
20.427644881.032 0 1 0 0
> 0 0 0
AdjustabAdjustable Adjustable
> Adjustable Adjustable
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
28.55784 4160.84 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
> CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 10 2 1
0 3 3 1
1 1 1
0 3 3 1
0 3 1 1
1 1
0 0
0 3 3 1
2 1
0 3 3 1
1 1
1 1 1
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1 1 1
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