Saxon Asset Securities Co Mort LN As Back Cert Se 2002 3 Inactive
Filed: 28 Jan 03, 12:00am
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K /A
Current Report Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 26, 2002
SAXON ASSET SECURITIES COMPANY,
(as Depositor under the Pooling and Servicing Agreement, dated
as of November 1, 2002, providing for the issuance of Mortgage Loan
Asset Backed Certificates, Series 2002-3).
SAXON ASSET SECURITIES CO MORT LN AS BACK CERT SE 2002-3
(Exact name of Registrant as specified in its Charter)
VIRGINIA
(State or Other Jurisdiction of Incorporation)
333-67170-03 52-1865887
(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
December 26, 2002.
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.
Deutsche Bank Trust Company Americas,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Trust Agreement, dated as of
November 1, 2002.
Date: Jan 23, 2003 By: /s/ Katie Wannenmacher
Katie Wannenmacher
Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of December 26, 2002.
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| December 26, 2002 Distribution | |||||||||||
| Contents | |||||||||||
| TABLE OF CONTENTS | |||||||||||
| Page | |||||||||||
| 1. | Contents | 1 | |||||||||
| 2. | Certificate Payment Report | 2 | |||||||||
| 3. | Collection Account Report | 4 | |||||||||
| 4. | Credit Enhancement Report | 7 | |||||||||
| 5. | Collateral Report | 8 | |||||||||
| 6. | Delinquency Report | 11 | |||||||||
| 7. | REO Report | 14 | |||||||||
| 8. | Foreclosure Report | 15 | |||||||||
| 9. | Prepayment Report | 16 | |||||||||
| 10. | Prepayment Detail Report | 19 | |||||||||
| 11. | Realized Loss Report | 21 | |||||||||
| 12. | Realized Loss Detail Report | 24 | |||||||||
| 13. | Triggers, Adj. Rate Cert. and Miscellaneous Report | 25 | |||||||||
| 14. | Additional Certificate Report | 26 | |||||||||
| Total Number of Pages | 26 | ||||||||||
| &n bsp; | |||||||||||
| CONTACTS | |||||||||||
| Administrator: Barbara A Rowe | |||||||||||
| Direct Phone Number: (714)247-6412 | |||||||||||
| Address: Deutsche Bank | |||||||||||
| 1761 E. St. Andrew Place, Santa Ana, CA 92705 | |||||||||||
| Web Site: http://www.corporatetrust.db.com/invr | |||||||||||
| Factor Information: (800) 735-7777 | |||||||||||
| Main Phone Number: (714) 247-6000 | |||||||||||
| ISSUANCE INFORMATION | |||||||||||
| Seller: | Saxon | Cut-Off Date: November 1, 2002 | |||||||||
| Certificate Insurer(s): | Closing Date: November 8, 2002 | ||||||||||
| First Payment Date: December 26, 2002 | |||||||||||
| Servicer(s): | Saxon Mortgage Services, Inc. Master Servicer | ||||||||||
| Saxon Mortgage Services, Inc. Sub-Servicer | &n bsp; | ||||||||||
| Distribution Date: December 26, 2002 | |||||||||||
| Underwriter(s): | J. P. Morgan Lead Underwriter | Record Date: December 24, 2002 | |||||||||
| CS First Boston Underwriter | November 29, 2002 | ||||||||||
| RBS Greenwich Capital Underwriter | |||||||||||
| Wachovia Securites Underwriter | |||||||||||
| Page 1 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| REMIC V Series 2002-3 | |||||||||||
| Certificate Payment Report for December 26, 2002 Distribution | |||||||||||
| Distribution in Dollars - Current Period | |||||||||||
| Prior | Current | ||||||||||
| Class | Original | Principal | Total | Realized | Deferred | Principal | |||||
| Class | Type | Face Value | Balance | Interest | Principal | Distribution | Losses | Interest | Balance | ||
| (1) | (2) | (3) | (4)=(2)+(3) | (5) | (6) | (7)=(1)-(3)-(5)+(6) | |||||
| AF-1 | FLT | 87,300,000.00 | 87,300,000.00 | 179,110.50 | 4,506,452.32 | 4,685,562.82 | - | - | 82,793,547.68 | ||
| AF-2 | AFC | 43,800,000.00 | 43,800,000.00 | 117,092.00 | - | 117,092.00 | - | - | 43,800,000.00 | ||
| AF-3 | AFC | 38,100,000.00 | 38,100,000.00 | 118,649.75 | - | 118,649.75 | - | - | 38,100,000.00 | ||
| AF-4 | AFC | 28,700,000.00 | 28,700,000.00 | 110,040.58 | - | 110,040.58 | - | - | 28,700,000.00 | ||
| AF-5 | STEP | 28,900,000.00 | 28,900,000.00 | 133,108.58 | - | 133,108.58 | - | - | 28,900,000.00 | ||
| AF-6 | STEP | 25,200,000.00 | 25,200,000.00 | 103,047.00 | - | 103,047.00 | - | - | 25,200,000.00 | ||
| AV | FLT | 588,000,000.00 | 588,000,000.00 | 1,394,411.16 | 3,727,118.95 | 5,121,530.11 | - | - | 584,272,881.05 | ||
| A-IO | IO | - | - | 1,296,719.66 | - | 1,296,719.66 | - | - | - | ||
| S | IO | - | - | 65,160.17 | - | 65,160.17 | - | - | - | ||
| M-1 | MEZ | 57,500,000.00 | 57,500,000.00 | 163,189.09 | - | 163,189.09 | - | - | 57,500,000.00 | ||
| M-2 | MEZ | 55,000,000.00 | 55,000,000.00 | 227,591.41 | - | 227,591.41 | - | - | 55,000,000.00 | ||
| B | SUB | 47,500,000.00 | 47,500,000.00 | 255,139.56 | - | 255,139.56 | - | - | 47,500,000.00 | ||
| C | SUB | - | - | - | - | - | - | - | - | ||
| P | SUB | - | - | 24,868.67 | - | 24,868.67 | - | - | - | ||
| R | R | - | - | - | - | - | - | - | - | ||
| Total | 1,000,000,000.00 | 1,000,000,000.00 | 4,188,128.13 | 8,233,571.27 | 12,421,699.40 | - | - | 991,766,428.73 | |||
| Non-Delay Certificates Record Date: 12/24/02 | |||||||||||
| Interest Accrual Detail | Current Period Factor Information per $1,000 of Original Face | ||||||||||
| Orig. Principal | Prior | Current | |||||||||
| Period | Period | (with Notional) | Principal | Total | Principal | ||||||
| Class | Starting | Ending | Method | Cusip | Balance | Balance | Interest | Principal | Distribution | Balance | |
| (1) | (2) | (3) | (4)=(2)+(3) | (5) | |||||||
| AF-1 | 11/08/02 | 12/25/02 | A-Ac t/360 | 805564MB4 | 87,300,000.00 | 1,000.000000 | 2.051667 | 51.620301 | 53.671968 | 948.379699 | |
| AF-2 | F-30/360 | 805564MC2 | 43,800,000.00 | 1,000.000000 | 2.673333 | - | 2.673333 | 1,000.000000 | |||
| AF-3 | F-30/360 | 805564MD0 | 38,100,000.00 | 1,000.000000 | 3.114167 | - | 3.114167 | 1,000.000000 | |||
| AF-4 | F-30/360 | 805564ME8 | 28,700,000.00 | 1,000.000000 | 3.834167 | - | 3.834167 | 1,000.000000 | |||
| AF-5 | F-30/360 | 805564MF5 | 28,900,000.00 | 1,000.000000 | 4.605833 | - | 4.605833 | 1,000.000000 | |||
| AF-6 | F-30/360 | 805564MG3 | 25,200,000.00 | 1,000.000000 | 4.089167 | - | 4.089167 | 1,000.000000 | |||
| AV | 11/08/02 | 12/25/02 | A-Act/360 | 805564MJ7 | 588,000,000.00 | 1,000.000000 | 2.371448 | 6.338638 | 8.710085 | 993.661362 | |
| A-IO | 11/08/02 | 12/25/02 | F-30/360 | 805564MH1 | 311,229,000.00 | 1,000.000000 | 4.166449 | - | 4.166449 | 998.313139 | |
| S | 11/08/02 | 12/25/02 | A-30/360 | 805564MN8 | 817,677,786.00 | 1,000.000000 | 0.079689 | - | 0.079689 | 991.201881 | |
| M-1 | A-Act/360 | 805564MK4 | 57,500,000.00 | 1,000.000000 | 2.838071 | - | 2.8 38071 | 1,000.000000 | |||
| M-2 | A-Act/360 | 805564ML2 | 55,000,000.00 | 1,000.000000 | 4.138026 | - | 4.138026 | 1,000.000000 | |||
| B | 11/08/02 | 12/25/02 | A-Act/360 | 805564MM0 | 47,500,000.00 | 1,000.000000 | 5.371359 | - | 5.371359 | 1,000.000000 | |
| C | 11/08/02 | 12/25/02 | A-30/360 | 1,000,000,000.00 | 1,000.000000 | - | - | - | 992.437545 | ||
| P | 11/08/02 | 12/25/02 | - | - | - | - | - | - | - | ||
| R | 11/08/02 | 12/25/02 | - | - | - | - | - | - | - | ||
| Page 2 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| REMIC V Series 2002-3 | |||||||||||
| Certificate Payment Report for December 26, 2002 Distribution | |||||||||||
| Distribution in Dollars - to Date | |||||||||||
| Current | |||||||||||
| Original | Unscheduled | Scheduled | Total | Total | Realized | Deferred | Principal | ||||
| Class | Face Value | Interest | Principal | Principal | Principal | Distribution | Losses | Interest | Balance | ||
| (1) | (2) | (3) | (4) | (5)=(3)+(4) | (6)=(2)+(5) | (7) | (8) | (9)=(1)-(5)-(7)+(8) | |||
| AF-1 | 87,300,000.00 | 179,110.50 | 4,282,995.21 | 223,457.11 | 4,506,452.32 | 4,685,562.82 | - | - | 82,793,547.68 | ||
| AF-2 | 43,800,000.00 | 117,092.00 | - | - | - | 117,092.00 | - | - | 43,800,000.00 | ||
| AF-3 | 38,100,000.00 | 118,649.75 | - | - | - | 118,649.75 | - | - | 38,100,000.00 | ||
| AF-4 | 28,700,000.00 | 110,040.58 | - | - | - | 110,040.58 | - | - | 28,700,000.00 | ||
| AF-5 | 28,900,000.00 | 133,108.58 | - | - | - | 133,108.58 | - | - | 28,900,000.00 | ||
| AF-6 | 25,200,000.00 | 103,047.00 | - | - | - | 103,047.00 | - | - | 25,200,000.00 | ||
| AV | 588,000,000.00 | 1,394,411.16 | 3,415,788.29 | 311,330.66 | 3,727,118.95 | 5,121,530.11 | - | - | 584,272,881.05 | ||
| A-IO | - | 1,296,719.66 | - | - | - | 1,296,719.66 | - | - | - | ||
| S | - | 65,160.17 | - | - | - | 65,160.17 | - | - | - | ||
| M-1 | 57,500,000.00 | 163,189.09 | - | - | - | 163,189.09 | - | - | 57,500,000.00 | ||
| M-2 | 55,000,000.00 | 227,591.41 | - | - | - | 227,591.41 | - | - | 55,000,000.00 | ||
| B | 47,500,000.00 | 255,139.56 | - | - | - | 255,139.56 | - | - | 47,500,000.00 | ||
| C | - | - | - | - | - | - | - | - | - | ||
| P | - | 24,868.67 | - | - | - | 24,868.67 | - | - | - | ||
| R | - | - | - | - | - | - | - | - | - | ||
| Total | 1,000,000,000.00 | 4,188,128.13 | 7,698,783.50 | 534,787.77 | 8,233,571.27 | 12,421,699.40 | - | - | 991,766,428.73 | ||
| Interest Detail | |||||||||||
| Pass- | Prior Principal | Non- | Prior | Unscheduled | Paid or | Current | |||||
| Through | (with Notional) | Accrued | Supported | Unpaid | Interest | Optimal | Deferred | Unpaid | |||
| Class | Rate | Balance | Interest | Interest SF | Interest | Adjustments | Interest | Interest | Interest | ||
| (1) | (2) | (3) | (4) | (5)=(1)-(2)+(3)+(4) | (6) | (7)=(5)-(6) | |||||
| AF-1 | 1.53875% | 87,300,000.00 | 179,110.50 | - | - | - | 179,110.50 | 179,110.50 | - | ||
| AF-2 | 3.20800% | 43,800,000.00 | 117,092.00 | - | - | - | 117,092.00 | 117,092.00 | - | ||
| AF-3 | 3.43179% | 38,100,000.00 | 118,649.75 | - | - | - | 118,649.75 | 118,649.75 | - | ||
| AF-4 | 3.43179% | 28,700,000.00 | 110,040.58 | - | - | - | 110,040.58 | 110,040.58 | - | ||
| AF-5 | 3.43179% | 28,900,000.00 | 133,108.58 | - | - | - | 133,108.58 | 133,108.58 | - | ||
| AF-6 | 3.43179% | 25,200,000.00 | 103,047.00 | - | - | - | 103,047.00 | 103,047.00 | - | ||
| AV | 1.77875% | 588,000,000.00 | 1,394,411.16 | - | - | - | 1,394,411.16 | 1,394,411.16 | - | ||
| A-IO | 5.00000% | 311,229,000.00 | 1,296,719.66 | - | - | - | 1,296,719.66 | 1,296,719.66 | - | ||
| S | 2.12875% | 817,677,786.00 | 65,160.17 | - | - | - | 65,160.17 | 65,160.17 | - | ||
| M-1 | 2.12875% | 57,500,000.00 | 163,189.09 | - | - | - | 163,189.09 | 163,189.09 | - | ||
| M-2 | 2.49681% | 55,000,000.00 | 227,591.41 | - | - | - | 227,591.41 | 227,591.41 | - | ||
| B | 2.49681% | 47,500,000.00 | 255,139.56 | - | - | - | 255,139.56 | 255,139.56 | - | ||
| C | 0.80534% | 1,000,000,000.00 | 671,115.97 | - | - | - | 671,115.97 | - | 671,115.97 | ||
| P | - | - | - | - | - | - | 24,868.67 | - | |||
| R | - | - | - | - | - | - | - | - | |||
| Total | 3,128,906,786.00 | 4,834,375.43 | - | - | - | 4,834,375.43 | 4,188,128.13 | 671,115.97 | |||
| Page 3 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collection Account Report for December 26, 2002 Distribution | |||||||||||
| Collection Account Report | |||||||||||
| ; | |||||||||||
| SUMMARY | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Principal Collections | 3,423,322.58 | 4,139,132.71 | 7,562,455.29 | ||||||||
| Principal Withdrawals | 0.00 | 0.00 | 0.00 | ||||||||
| Principal Other Accounts | 0.00 | 0.00 | 0.00 | ||||||||
| TOTAL NET PRINCIPAL | 3,423,322.58 | 4,139,132.71 | 7,562,455.29 | ||||||||
| Interest Collections | 3,513,304.33 | 1,517,219.18 | 5,030,523.51 | ||||||||
| Interest Withdrawals | 0.00 | 0.00 | 0.00 | ||||||||
| Interest Other Accounts | 0.00 | 0.00 | 0.00 | ||||||||
| Interest Fees | (116,873.59) | (54,405.80) | (171,279.40) | ||||||||
| TOTAL NET INTEREST | 3,396,430.74 | 1,462,813.38 | 4,859,244.11 | ||||||||
| TOTAL AVAILABLE FUNDS TO BONDHOLDERS | 6,819,753.32 | 5,601,946.09 | 12,421,699.40 | ||||||||
| PRINCIPAL - COLLECTIONS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Scheduled Principal | 311,330.66 | 223,457.11 | 534,787.77 | ||||||||
| Curtailments | 61,182.20 | 36,871.91 | 98,054.11 | ||||||||
| Prepayments in Full | 3,050,809.72 | 3,878,803.69 | 6,929,613.41 | ||||||||
| Repurchases/Substitutions Shortfalls | 0.00 | 0.00 | 0.00 | ||||||||
| Liquidations | 0.00 | 0.00 | 0.00 | ||||||||
| Insurance Principal | 0.00 | 0.00 | 0.00 | ||||||||
| Other Additional Principal | 0.00 | 0.00 | 0.00 | ||||||||
| Delinquent Principal | (60,705.93) | (26,746.31) | (87,452.24) | ||||||||
| Advanced Principal | 60,705.93 | 26,746.31 | 87,452.24 | ||||||||
| Realized Losses | 0.00 | 0.00 | 0.00 | ||||||||
| TOTAL PRINCIPAL COLLECTED | 3,423,322.58 | 4,139,132.71 | 7,562,455.29 | ||||||||
| Page 4 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collection Account Report for December 26, 2002 Distribution | |||||||||||
| Collection Account Report | |||||||||||
| PRINCIPAL - WITHDRAWALS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| &nbs p; | |||||||||||
| PRINCIPAL - OTHER ACCOUNTS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Prefunded Release Amount | 0.00 | 0.00 | 0.00 | ||||||||
| TOTAL OTHER ACCOUNTS PRINCIPAL | 0.00 | 0.00 | 0.00 | ||||||||
| INTEREST - COLLECTIONS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Scheduled Interest | 3,491,143.90 | 1,510,188.58 | 5,001,332.48 | ||||||||
| Repurchases/Substitutions | 0.00 | 0.00 | 0.00 | ||||||||
| Liquidations | 0.00 | 0.00 | 0.00 | ||||||||
| Insurance Interest | 0.00 | 0.00 | 0.00 | ||||||||
| Other Additional Interest | 0.00 | 0.00 | 0.00 | ||||||||
| Month End Interest (PPIS) | (5,790.83) | (10,219.40) | (16,010.23) | ||||||||
| Delinquent Interest | (777,553.39) | (218,165.97) | (995,719.36) | ||||||||
| Realized Losses | 0.00 | 0.00 | 0.00 | ||||||||
| Compensating Month End Interest | 5,790.83 | 10,219.40 | 16,010.23 | ||||||||
| Other Interest Shortfall (Relief Act) | (246.70) | 0.00 | (246.70) | ||||||||
| Interest Advanced | 751,827.34 | 211,158.07 | 962,985.41 | ||||||||
| Prepayment Penalties | 48,133.18 | 14,038.50 | 62,171.68 | ||||||||
| TOTAL INTEREST COLLECTED | 3,513,304.33 | 1,517,219.18 | 5,030,523.51 | ||||||||
| Page 5 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2 002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collection Account Report for December 26, 2002 Distribution | |||||||||||
| Collection Account Report | |||||||||||
| INTEREST - WITHDRAWALS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| INTEREST - OTHER ACCOUNTS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| TOTAL OTHER ACCOUNT INTEREST | 0.00 | 0.00 | 0.00 | ||||||||
| INTEREST - FEES | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Current Servicing Fees | 96,502.21 | 45,632.46 | 142,134.67 | ||||||||
| Master Servicing Fee | 20,371.38 | 8,773.34 | 29,144.73 | ||||||||
| TOTAL INTEREST OTHER FEES | 116,873.59 | 54,405.80 | 171,279.40 | ||||||||
| Page 6 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Credit Enhancement Report for December 26, 2002 Distribution | |||||||||||
| Credit Enhancement Report | |||||||||||
| AC COUNTS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Basis Risk Reserve Fund Beginning Balance | 1,000.00 | ||||||||||
| Basis Risk Payment | 223,321.91 | ||||||||||
| Cap Carryover Amount | (223,321.91) | ||||||||||
| Excess of Required Reserve Fund Deposit | 0.00 | ||||||||||
| Basis Risk Reserve Fund Ending Balance | 1,000.00 | ||||||||||
| Required Reserve Fund Deposit | 0.00 | ||||||||||
| Int Earnings on Basis Risk Reserve Fund (pay to Class C) | 0.00 | ||||||||||
| INSURANCE | ADJUSTABLE | FIXED | TOTAL | ||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| STRUCTURAL FEATURES | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Extra Principal Distribution Amt | 303,796.37 | 367,319.61 | 671,115.98 | ||||||||
| Overcollateralization Amount | 671,115.98 | &nbs p; | |||||||||
| Overcollateralization Requirement | 23,500,000.00 | ||||||||||
| Overcollateralization Release Amount | 0.00 | 0.00 | 0.00 | ||||||||
| Page 7 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collateral Report for December 26, 2002 Distribution | |||||||||||
| Collateral Report | |||||||||||
| COLLATERAL | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Loan Count: | |||||||||||
| Original | 3070 | 1903 | 4973 | ||||||||
| Prior | - | - | - | ||||||||
| Prefunding | - | - | - | ||||||||
| Scheduled Paid Offs | - | - | - | ||||||||
| Full Voluntary Prepayments | (19) | (41) | (60) | ||||||||
| Repurchases | - | - | - | ||||||||
| Liquidations | - | - | - | ||||||||
| Current | 3,051 | 1,862 | 4,913 | ||||||||
| Principal Balance: | |||||||||||
| Original | 489,081,882.74 | 210,735,873.32 | 699,817,756.06 | ||||||||
| Prior | - | - | - | ||||||||
| Prefunding | - | - | - | ||||||||
| Scheduled Principal | (311,330.66) | (223,457.11) | (534,787.77) | ||||||||
| Partial and Full Voluntary Prepayments | (3,111,991.92) | (3,915,675.60) | (7,027,667.52) | ||||||||
| Repurchases | - | - | - | ||||||||
| Liquidations | - | - | - | ||||||||
| Current | 485,658,560.16 | 206,596,740.61 | 692,255,300.77 | ||||||||
| PREFUNDING | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Prefunding Beginning Balance | 210,918,117.26 | 89,264,126.68 | 300,182,243.94 | ||||||||
| Balance of Subsequent Loans Transfered | 0.00 | 0.00 | 0.00 | ||||||||
| Prefunded Amount Dispursed To Offered Certificates | 0.00 | 0.00 | 0.00 | ||||||||
| Prefunding Ending Balance | 210,918,117.26 | 89,264,126.68 | 300,182,243.94 | &nb sp; | |||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| Current Prin Balance by Groups (in millions of dollars) | Total Curr ent Principal Balance (in millions of dollars) | ||||||||||
| Page 8 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collateral Report for December 26, 2002 Distribution | |||||||||||
| Collateral Report | |||||||||||
| CHARACTERISTICS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Weighted Average Coupon Original | 8.565790% | 8.599515% | 8.575946% | ||||||||
| Weighted Average Coupon Prior | |||||||||||
| Weighted Average Coupon Current | 8.565790% | 8.599515% | 8.575946% | ||||||||
| Weighted Average Months to Maturity Original | 355 | 295 | 337 | ||||||||
| Weighted Average Months to Maturity Prior | - | - | - | ||||||||
| Weighted Average Months to Maturity Current | 355 | 295 | 337 | ||||||||
| Weighted Avg Remaining Amortization Term Original | 355 | 315 | 343 | ||||||||
| Weighted Avg Remaining Amortization Term Prior | - | - | - | ||||||||
| Weighted Avg Remaining Amortization Term Current | 355 | 315 | 343 | ||||||||
| Weighted Average Seasoning Original | 5.12 | 12.40 | 7.29 | ||||||||
| Weighted Average Seasoning Prior | - | - | - | ||||||||
| Weighted Average Seasonin g Current | 5.12 | 12.40 | 7.29 | ||||||||
| Note: Original information refers to deal issue. | |||||||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| WAC by Groups | Total WAC | ||||||||||
| WARAT by Groups | Total WARAT | ||||||||||
| Note: Dates correspond to distribution dates. | |||||||||||
| Page 9 of 26 | © COPYRIGHT 2002 Deutsch e Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Collateral Report for December 26, 2002 Distribution | |||||||||||
| Collateral Report | |||||||||||
| ARM CHARACTERISTICS | &n bsp; | ADJUSTABLE | FIXED | TOTAL | |||||||
| Weighted Average Margin Original | 5.510% | ||||||||||
| Weighted Average Margin Prior | |||||||||||
| Weighted Average Margin Current | 5.510% | ||||||||||
| Weighted Average Max Rate Original | 15.061% | 8.600% | |||||||||
| Weighted Average Max Rate Prior | |||||||||||
| Weighted Average Max Rate Current | 15.061% | 8.600% | |||||||||
| Weighted Average Min Rate Original | 7.734% | 8.600% | |||||||||
| Weighted Average Min Rate Prior | |||||||||||
| Weighted Average Min Rate Current | 7.734% | 8.600% | |||||||||
| Weighted Average Cap Up Original | 1.030% | ||||||||||
| Weighted Average Cap Up Prior | &nbs p; | ||||||||||
| Weighted Average Cap Up Current | 1.030% | ||||||||||
| Weighted Average Cap Down Original | 1.030% | ||||||||||
| Weighted Average Cap Down Prior | |||||||||||
| Weighted Average Cap Down Current | 1.030% | ||||||||||
| Note: Original information refers to deal issue. | |||||||||||
| SERVICING FEES / ADVANCES | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Current Servicing Fees | 96,502.21 | 45,632.46 | 142,134.67 | ||||||||
| Delinquent Servicing Fees | 25,726.05 | 7,007.91 | 32,733.96 | ||||||||
| Master Servicing Fees | 20,371.38 | 8,773.34 | 29,144.73 | ||||||||
| TOTAL SERVICING FEES | 142,599.64 | 61,413.71 | 204,013.36 | ||||||||
| Total Servicing Fees | 142,599.64 | 61,413.71 | 204,013.36 | ||||||||
| Compensating Month End Interest | 5,790.83 | 10,219.40 | 16,010.23 | &nb sp; | |||||||
| Delinquent Servicing Fees | (25,726.05) | (7,007.91) | (32,733.96) | ||||||||
| COLLECTED SERVICING FEES | 122,664.42 | 64,625.20 | 187,289.63 | ||||||||
| Prepayment Interest Shortfall | 5,790.83 | 10,219.40 | 16,010.23 | ||||||||
| Total Advanced Interest | 751,827.34 | 211,158.07 | 962,985.41 | ||||||||
| ADDITIONAL COLLATERAL INFORMATION | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Weighted Average Net Rate | 5.739939% | 5.795099% | 5.756487% | ||||||||
| Largest Loan Balance | 1,459,823.28 | 1,558,103.21 | 1,558,103.21 | &n bsp; | |||||||
| Next One-Month LIBOR | 1.420000% | ||||||||||
| Current One-Month LIBOR | 1.378750% | ||||||||||
| &nb sp; | |||||||||||
| Page 10 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortga ge Loan Asset-Backed Certificates | |||||||||||
| Delinquency Report for December 26, 2002 Distribution | |||||||||||
| Delinquency Report - Total | |||||||||||
| CURRENT | 1 PAYMENT | 2 PAYMTS | 3+ PAYMTS | TOTAL | |||||||
| DELINQUENT | Balance | 4,490,531.62 | 1,145,620.42 | - | 5,636,152.04 | ||||||
| % Balance | 0.65% | 0.17% | 0.00% | 0.81% | |||||||
| # Loans | 25 | 7 | - | 32 | |||||||
| % # Loans | 0.51% | 0.14% | 0.00% | 0.65% | |||||||
| FORECLOSURE | Balance | 1,252,827.37 | - | - | - | 1,252,827.37 | |||||
| % Balance | 0.18% | 0.00% | 0.00% | 0.00% | 0.18% | ||||||
| # Loans | 11 | - | - | - | 11 | ||||||
| % # Loans | 0.22% | 0.00% | 0.00% | 0.00% | 0.22% | ||||||
| BANKRUPTCY | Balance | 673,127.14 | - | - | - | 673,127.14 | |||||
| % Balance | 0.10% | 0.00% | 0.00% | 0.00% | 0.10% | ||||||
| # Loans | 9 | - | - | - | 9 | ||||||
| % # Loans | 0.18% | 0.00% | 0.00% | 0.00% | 0.18% | ||||||
| REO | Balance | - | - | - | - | - | |||||
| % Balance | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| # Loans | - | - | - | - | - | ||||||
| % # Loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| TOTAL | Balance | 1,925,954.51 | 4,490,531.62 | 1,145,620.42 | - | 7,562,106.55 | |||||
| % Balance | 0.28% | 0.65% | 0.17% | 0.00% | 1.09% | ||||||
| # Loans | 20 | 25 | 7 | - | 52 | ||||||
| % # Loans | 0.41% | 0.51% | 0.14% | 0.00% | 1.06% | ||||||
| Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+ | |||||||||||
| 6 Months Movi ng Average | |||||||||||
| 1 or 2 Payments Delinquent | 3 or More Payments Delinquent | ||||||||||
| Total Foreclosure | Total Bankruptcy and REO | ||||||||||
| Note: Dates correspond to distribution dates. | |||||||||||
| Page 11 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Delinquency Report for December 26, 2002 Distribution | |||||||||||
| & nbsp; | Delinquency Report - Fixed Group | ||||||||||
| CURRENT | 1 PAYMENT | 2 PAYMTS | 3+ PAYMTS | TOTAL | |||||||
| DELINQUENT | Balance | 359,862.21 | - | - | 359,862.21 | ||||||
| % Balance | 0.17% | 0.00% | 0.00% | 0.17% | |||||||
| &nbs p; | # Loans | 4 | - | - | 4 | ||||||
| % # Loans | 0.21% | 0.00% | 0.00% | 0.21% | |||||||
| FORECLOSURE | Balance | &n bsp; | 361,672.22 | - | - | - | 361,672.22 | ||||
| % Balance | 0.18% | 0.00% | 0.00% | 0.00% | 0.18% | ||||||
| # Loans | 6 | - | - | - | 6 | ||||||
| % # Loans | 0.32% | 0.00% | 0.00% | 0.00% | 0.32% | ||||||
| BANKRUPTCY | Balance | 150,155.92 | - | - | - | 150,155.92 | |||||
| % Balance | 0.07% | 0.00% | 0.00% | 0.00% | 0.07% | ||||||
| # Loans | 3 | - | - | - | 3 | ||||||
| % # Loans | 0.16% | 0.00% | 0.00% | 0.00% | 0.16% | ||||||
| REO | Balance | - | - | - | - | - | |||||
| % Balance | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| # Loans | - | - | - | - | - | ||||||
| % # Loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| TOTAL | Balance | 511,828.14 | 359,862.21 | - | - | 871,690.35 | |||||
| % Balance | 0.25% | 0.17% | 0.00% | 0.00% | 0.42% | ||||||
| # Loans | 9 | 4 | - | - | 13 | ||||||
| % # Loans | 0.48% | 0.21% | 0.00% | 0.00% | 0.70% | ||||||
| Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+ | |||||||||||
| 6 Months Moving Average | |||||||||||
| 1 or 2 Payments Delinquent | 3 or More Payments Delinquent | ||||||||||
| Total Foreclosure | Total Bankruptcy and REO | ||||||||||
| Note: Dates correspond to distribution dates. | |||||||||||
| Page 12 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Delinquency Report for December 26, 2002 Distribution | |||||||||||
| Delinquency Report - Adjustable Group | |||||||||||
| CURRENT | 1 PAYMENT | 2 PAYMTS | 3+ PAYMTS | TOTAL | |||||||
| DELINQUENT | Balance | 4,130,669.41 | 1,145,620.42 | - | 5,276,289.83 | ||||||
| % Balance | 0.85% | 0.24% | 0.00% | 1.09% | |||||||
| # Loans | 21 | 7 | - | 28 | |||||||
| % # Loans | 0.69% | 0.23% | 0.00% | 0.92% | |||||||
| FORECLOSURE | Balance | 891,155.15 | - | - | - | 891,155.15 | |||||
| % Balance | 0.18% | 0.00% | 0.00% | 0.00% | 0.18% | ||||||
| # Loans | 5 | - | - | - | 5 | ||||||
| % # Loans | 0.16% | 0.00% | 0.00% | 0.00% | 0.16% | ||||||
| BANKRUPTCY | Balance | 522,971.22 | - | - | - | 522,971.22 | |||||
| % Balance | 0.11% | 0.00% | 0.00% | 0.00% | 0.11% | ||||||
| # Loans | 6 | - | - | - | 6 | ||||||
| % # Loans | 0.20% | 0.00% | 0.00% | 0.00% | 0.20% | ||||||
| REO | Balance | - | - | - | - | - | |||||
| % Balance | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| # Loans | - | - | - | - | - | ||||||
| % # Loans | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||
| TOTAL | Balance | 1,414,126.37 | 4,130,669.41 | 1,145,620.42 | - | 6,690,416.20 | |||||
| % Balance | 0.29% | 0.85% | 0.24% | 0.00% | 1.38% | ||||||
| # Loans | 11 | 21 | 7 | - | 39 | ||||||
| % # L oans | 0.36% | 0.69% | 0.23% | 0.00% | 1.28% | ||||||
| Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+ | |||||||||||
| 6 Months Moving Average | |||||||||||
| 1 or 2 Payments Del inquent | 3 or More Payments Delinquent | ||||||||||
| &nb sp; | |||||||||||
| Total Foreclosure | Total Bankruptcy and REO | ||||||||||
| Note: Dates correspond to distribution dates. | |||||||||||
| Page 13 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| REO Report for December 26, 2002 Distribution | |||||||||||
| REO Report - Mortgage Loans that Become REO During Current Distribution | |||||||||||
| SUMMARY | LOAN GROUP | ||||||||||
| Total Loan Count = 0 | Loan Group 1 = Fixed Group; REO Book Value = 000.00 | ||||||||||
| Total Original Principal Balance = 000.00 | Loan Group 2 = Adjustable Group; REO Book Value = 000.00 | ||||||||||
| Total Current Balance = 000.00 | |||||||||||
| REO Book Value = 000.00 | |||||||||||
| REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution. | |||||||||||
| Loan Number | Original | Stated | Current | State & | |||||||
| & | Principal | Principal | Paid to | Note | LTV at | Original | Origination | ||||
| Loan Group | Balance | Balance | Date | Rate | Origination | Term | Date | ||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| & nbsp; | |||||||||||
| Page 14 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Foreclosure Report for December 26, 2002 Distribution | |||||||||||
| Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution | |||||||||||
| SUMMARY | LOAN GROUP | ||||||||||
| Total Loan Count = 11 | Loan Group 1 = Fixed Group | ||||||||||
| Total Original Principal Balance = 1,280,698.30 | Loan Group 2 = Adjustable Group | ||||||||||
| Total Current Balance = 1,252,827.37 | |||||||||||
| Loan Number | Original | Stated | Current | State & | &n bsp; | ||||||
| & | Principal | Principal | Paid to | Note | LTV at | Original | Origination | ||||
| Loan Group | Balance | Balance | Date | Rate | Origination | Term | Date | ||||
| 10007015 1 | 59,375.00 | 56,794.10 | Nov-01-02 | 10.000% | NC - 95.00% | 360 | Nov-12-96 | ||||
| 10010475 1 | 39,500.00 | 38,508.14 | Nov-01-02 | 12.125% | TN - 84.04% | 180 | Jul-30-97 | ||||
| 11510221 1 | 89,250.00 | 89,059.59 | Nov-01-02 | 10.250% | CA - 85.00% | 360 | Jun-10-02 | ||||
| 31300032 1 | 19,500.00 | 18,498.09 | Oct-09-02 | 10.900% | RI - 60.94% | 180 | Sep-09-96 | ||||
| 34300008 1 | 76,00 0.00 | 62,167.63 | Nov-01-02 | 9.250% | CA - 80.00% | 360 | May-12-97 | ||||
| 88700023 1 | 100,800.00 | 96,644.67 | Nov-01-02 | 9.500% | NV - 80.00% | 360 | Jul-09-97 | ||||
| 10205519 2 | 66,750.00 | 64,432.18 | Nov-01-02 | 10.990% | NC - 75.00% | 360 | Feb-21-97 | ||||
| 10206843 2 | 47,823.30 | 46,567.48 | Nov-01-02 | 12.990% | MO - 28.98% | 360 | Mar-31-97 | ||||
| 11467288 2 | 250,000.00 | 249,387.74 | Nov-01-02 | 8.500% | CA - 89.29% | 360 | Jul-08-02 | ||||
| 11488752 2 | 367,200.00 | 366,736.68 | Nov-01-02 | 11.625% | CO - 80.00% | 360 | Jul-19-02 | ||||
| 11502012 2 | 164,500.00 | 164,031.07 | Nov-01-02 | 7.750% | GA - 74.77% | 360 | Aug-02-02 | ||||
| ; | |||||||||||
| Page 15 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Prepayment Report for December 26, 2002 Distributi on | |||||||||||
| Prepayment Report - Voluntary Prepayments | |||||||||||
| VOLUNTARY PREPAYMENTS | ADJUSTABLE | FIXED | TOTAL | &n bsp; | |||||||
| Current | |||||||||||
| Number o f Paid in Full Loans | 19 | 41 | 60 | ||||||||
| Number of Repurchased Loans | - | - | - | ||||||||
| Total Number of Loans Prepaid in Full | 19 | 41 | 60 | ||||||||
| Paid in Full Balance | 3,050,809.72 | 3,878,803.69 | 6,929,613.41 | ||||||||
| Repurchased Loans Balance | - | - | - | ||||||||
| Curtailments Amount | 61,182.20 | 36,871.91 | 98,054.11 | ||||||||
| Total Prepayment Amount | 3,111,991.9 2 | 3,915,675.60 | 7,027,667.52 | ||||||||
| Cumulative | |||||||||||
| Number of Paid in Full Loans | 19 | 41 | 60 | ||||||||
| Number of Repurchased Loans | - | - | - | ; | |||||||
| Total Number of Loans Prepaid in Full | 19 | 41 | 60 | ||||||||
| Paid in Full Balance | 3,050,809.72 | 3,878,803.69 | 6,929,613.41 | ||||||||
| Repurchased Loans Balance | - | - | - | ||||||||
| Curtailments Amount | 61,182.20 | 36,871.91 | 98,054.11 | ||||||||
| Total Prepayment Amount | 3,111,991.92 | 3,915,675.60 | 7,027,667.52 | ||||||||
| & nbsp; | |||||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| Total Prepayments by Groups (in thousands of dollars) | Total Prepayments (in thousands of dollars) | ; | |||||||||
| Page 16 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Prepayment Report for December 26, 2002 Distribution | |||||||||||
| Prepayment Report - Voluntary Prepayments | |||||||||||
| VOLUNTARY PREPAYMENT RATES | ADJUSTABLE | FIXED | TOTAL | ||||||||
| &nb sp; | |||||||||||
| SMM | 0.64% | 1.86% | 1.00% | &n bsp; | |||||||
| 3 Months Avg SMM | |||||||||||
| 12 Months Avg SMM | |||||||||||
| Avg SMM Since Cut-off | 0.64% | 1.86% | 1.00% | ||||||||
| CPR | 7.38% | 20.17% | 11.42% | ||||||||
| 3 Months Avg CPR | |||||||||||
| 12 Months Avg CPR | |||||||||||
| Avg CPR Since Cut-off | 7.38% | 20.17% | 11.42% | ||||||||
| PSA | 721.25% | 813.41% | 783.00% | ||||||||
| 3 Months Avg PSA Approximation | |||||||||||
| 12 Months Avg PSA Approximation | |||||||||||
| Avg PSA Since Cut-off Approximation | 721.25% | 813.41% | 783.00% | ||||||||
| &nb sp; | |||||||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| CPR by Groups | Total CPR | ||||||||||
| PSA by Groups | Total PSA | ||||||||||
| ; | |||||||||||
| Page 17 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| &nb sp; | |||||||||||
| Prepayment Report for December 26, 2002 Distribution | |||||||||||
| Prepayment Report - Voluntary Prepayments | |||||||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| CPR Avg since Cut-Off by Groups | Total CPR Avg since Cut-Off | ||||||||||
| PSA Avg since Cut-Off by Groups | Total PSA Avg since Cut-Off | ||||||||||
| PREPAYMENT CALCULATION METHODOLOGY | |||||||||||
| Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal) | |||||||||||
| Conditional Prepayment Rate (CPR): 1-((1-SMM)^ 12) | |||||||||||
| PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS)) | |||||||||||
| Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m) | |||||||||||
| Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12) | |||||||||||
| Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m)) | |||||||||||
| Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m) | |||||||||||
| Weighted Average Seasoning (WAS) | |||||||||||
| Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases. | |||||||||||
| Dates correspond to distribution dates. | |||||||||||
| Page 18 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Prepayment Detail Report for December 26, 2002 Distribution | |||||||||||
| Prepayment Detail Report - Loans Prepaid in Full During Current Distribution | |||||||||||
| SUMMARY | LOAN GROUP | ||||||||||
| Total Loan Count = 60 | Loan Group 1 = Fixed Group | ||||||||||
| Total Original Principal Balance = 7,202,604.00 | Loan Group 2 = Adjustable Group | ||||||||||
| Total Prepayment Amount = 6,929,613.41 | |||||||||||
| Loan Number | Original | Current | State & | Type Prepayment | |||||||
| & | Loan | Principal | Prepayment | Prepayment | Note | LTV at | & | Origination | |||
| Loan Group | Status | Balance | Amount | Date | Rate | Origination | Original Term | Date | |||
| 10009962 1 | 47,500.00 | 45,318.75 | Dec-06-02 | 10.000% | TX - 53.97% | Paid Off - 360 | Jun-30-97 | ||||
| 10010023 1 | 34,200.00 | 32,662.22 | Dec-10-02 | 10.375% | FL - 90.00% | Paid Off - 180 | Jun-30-97 | ||||
| 10010437 1 | 126,000.00 | 115,730.94 | Nov-13-02 | 10.375% | CA - 43.44% | Paid Off - 360 | Jul-25-97 | ||||
| 10010481 1 | 116,000.00 | 105,866.75 | Dec-12-02 | 9.000% | PA - 80.00% | Paid Off - 360 | Jul-31-97 | ||||
| 10010529 1 | 49,600.00 | 47,505.98 | Oct-30-02 | 9.500% | CT - 80.00% | Paid Off - 360 | Aug-01-97 | ||||
| 10010731 1 | 71,250.00 | 68,458.66 | Dec-05-02 | 9.500% | FL - 75.00% | Paid Off - 360 | Aug-22-97 | ||||
| 10010736 1 | 51,279.00 | 41,841.85 | Nov-22-02 | 10.875% | NM - 69.99% | Paid Off - 180 | Aug-18-97 | ||||
| 10010753 1 | 70,000.00 | 66,964.32 | Nov-14-02 | 9.625% | FL - 40.00% | Paid Off - 360 | Aug-22-97 | ||||
| 10011015 1 | 60,000.00 | 57,094.84 | Oct-29-02 | 11.750% | FL - 75.00% | Paid Off - 180 | Sep-05-97 | ||||
| 10011079 1 | 54,400.00 | 42,814.09 | Dec-02-02 | 8.750% | MD - 64.00% | Paid Off - 180 | Sep-12-97 | ||||
| 10011097 1 | 92,800.00 | 86,560.15 | Dec-05-02 | 9.750% | UT - 80.00% | Paid Off - 360 | Sep-11-97 | ||||
| 10011182 1 | 35,200.00 | 33,849.11 | Nov-01-02 | 9.500% | GA - 79.27% | Paid Off - 360 | Sep-19-97 | &n bsp; | |||
| 10011197 1 | 32,000.00 | 30,931.83 | Nov-01-02 | 10.250% | GA - 80.00% | Paid Off - 360 | Sep-19-97 | ||||
| 10011346 1 | 109,200.00 | 105,415.50 | Dec-09-02 | 10.125% | FL - 65.00% | Paid Off - 360 | Sep-29-97 | ||||
| 10011356 1 | 139,500.00 | 135,214.07 | Nov-15-02 | 10.875% | OR - 90.00% | Paid Off - 180 | Sep-26-97 | ||||
| 10011403 1 | 58,400.00 | 56,608.60 | Dec-09-02 | 10.750% | MN - 80.00% | Paid Off - 180 | Oct-01-97 | ||||
| 10011495 1 | 121,000.00 | 117,066.32 | Dec-11-02 | 10.625% | CA - 64.02% | Paid Off - 360 | Oct-01-97 | ||||
| 10011547 1 | 100,000.00 | 95,691.37 | Nov-15-02 | 9.750% | CA - 80.00% | Paid Off - 360 | Oct-10-97 | ||||
| 10207055 1 | 180,000.00 | 172,308.72 | Nov-16-02 | 9.990% | CA - 90.00% | Paid Off - 360 | Jun-11-97 | ||||
| 10207335 1 | 102,500.00 | 98,672.24 | Nov-07-02 | 9.990% | CA - 78.00% | Paid Off - 360 | Jul-31-97 | ||||
| 10207554 1 | 129,000.00 | 121,790.04 | Nov-04-02 | 8.990% | CA - 75.00% | Paid Off - 360 | Aug-05-97 | ||||
| 10207867 1 | 189,000.00 | 181,971.32 | Nov-08-02 | 9.990% | HI - 90.00% | Paid Off - 360 | Sep-03-97 | ||||
| 11506125 1 | 136,500.00 | 136,311.50 | Dec-17-02 | 7.875% | CA - 78.00% | Paid Off - 360 | Aug-09-02 | ||||
| 11507640 1 | 28 0,000.00 | 279,430.45 | Dec-11-02 | 7.990% | CA - 80.00% | Paid Off - 360 | Jul-26-02 | ||||
| 11510089 1 | 144,000.00 | 143,774.28 | Nov-27-02 | 9.250% | MN - 84.21% | Paid Off - 360 | Jun-26-02 | ||||
| 11510223 1 | 216,750.00 | 215,961.99 | Nov-11-02 | 8.750% | CA - 88.47% | Paid Off - 360 | Apr-04-02 | ||||
| 11513003 1 | 33,000.00 | 32,908.53 | Nov-14-02 | 9.650% | IL - 42.86% | Paid Off - 240 | Aug-22-02 | ||||
| 11518138 1 | 279,200.00 | 279,200.00 | Nov-30-02 | 8.250% | VA - 80.00% | Paid Off - 360 | Aug-30-02 | ||||
| 21100871 1 | 123,000.00 | 115,429.61 | Dec-06-02 | 9.500% | CA - 58.57% | Paid Off - 360 | Jun-27-97 | &nb sp; | |||
| 21100928 1 | 45,500.00 | 44,019.62 | Nov-04-02 | 10.500% | UT - 69.47% | Paid Off - 180 | Aug-08-97 | ||||
| 21100929 1 | 45,500.00 | 44,019.62 | Nov-04-02 | 10.500% | UT - 70.00% | Paid Off - 180 | Aug-08-97 | ||||
| 21100930 1 | 45,500.00 | 43,990.91 | Nov-04-02 | 10.500% | UT - 70.00% | Paid Off - 180 | Aug-08-97 | ||||
| 21100931 1 | 45,500.00 | 44, 045.64 | Nov-01-02 | 10.500% | UT - 70.00% | Paid Off - 180 | Aug-08-97 | ||||
| 21100988 1 | 81,600.00 | 78,619.12 | Nov-07-02 | 9.990% | CA - 80.00% | Paid Off - 360 | Jul-25-97 | ||||
| 27700007 1 | 129,600.00 | 124,297.28 | Dec-05-02 | 9.875% | CA - 90.00% | Paid Off - 180 | Aug-18-97 | ||||
| 29000032 1 | 42,400.00 | 40,786.46 | Nov-13-02 | 10.500% | OK - 80.00% | Paid Off - 360 | Apr-15-97 | ||||
| 29000048 1 | 93,500.00 | 89,795.52 | Nov-15-02 | 9.875% | FL - 85.00% | Paid Off - 360 | Apr-07-97 | ||||
| 32800001 1 | 80,325.00 | 74,001.29 | Dec-04-02 | 9.450% | FL - 85.00% | Paid Off - 180 | Jun-18-97 | ||||
| 63800119 1 | 77,350.00 | 74,076.61 | Oct-30-02 | 11.000% | IN - 85.00% | Paid Off - 360 | May-06-97 | ||||
| 84400122 1 | 178,000.00 | 115,810.75 | Nov-22-02 | 9.500% | NJ - 72.95% | Paid Off - 180 | May-29-97 | ||||
| 94000073 1 | 52,500.00 | 41,986.84 | Dec-04-02 | 9.250% | FL - 70.00% | Paid Off - 180 | Sep-30-97 | ||||
| 10201006 2 | 37,750.00 | 2,876.33 | Nov-12-0 2 | 8.750% | CA - 69.00% | Paid Off - 360 | Oct-31-96 | ||||
| 10206997 2 | 58,500.00 | 56,737.90 | Nov-27-02 | 9.850% | TN - 90.00% | Paid Off - 360 | Apr-21-97 | ||||
| 10207307 2 | 135,000.00 | 130,306.25 | Dec-03-02 | 9.750% | CA - 54.00% | Paid Off - 360 | Jul-03-97 | ||||
| Page 19 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Prepayment Detail Report for December 26, 2002 Distribution | |||||||||||
| Prepayment Detail Report - Loans Prepaid in Full During Current Distribution | |||||||||||
| Loan Number | Original | Current | State & | ||||||||
| & | Loan | Principal | Prepayment | Prepayment | Note | LTV at | Original | O rigination | |||
| Loan Group | Status | Balance | Amount | Date | Rate | Origination | Term | Date | |||
| 11493527 2 | 145,250.00 | 145,084.48 | Nov-30-02 | 10.750% | MS - 66.02% | Paid Off - 360 | Jul-26-02 | ||||
| 11493599 2 | 247,000.00 | 246,861.53 | Nov-01-02 | 8.875% | CA - 95.00% | Paid Off - 360 | Sep-06-02 | ||||
| 11495349 2 | 100,000.00 | 99,862.58 | Nov-05-02 | 9.875% | MA - 32.79% | Paid Off - 360 | Jun-26-02 | ||||
| 11496362 2 | 350,000.00 | 349,325.85 | Nov-14-02 | 8.250% | CA - 84.34% | Paid Off - 360 | Jul-09-02 | ||||
| 11496791 2 | 499,500.00 | 498,408.53 | Dec-02-02 | 7.625% | CA - 89.20% | Paid Off - 360 | Jul-10-02 | ||||
| 11499627 2 | 157,500.00 | 157,367.17 | Nov-06-02 | 12.125% | CT - 75.00% | Paid Off - 360 | Jul-03-02 | ||||
| 11500743 2 | 253,000.00 | 252,476.85 | Dec-06-02 | 7.900% | NJ - 75.52% | Paid Off - 360 | Jul-25-02 | ||||
| 11500967 2 | 131,250.00 | 130,997.18 | Dec-17-02 | 8.250% | IL - 75.00% | Paid Off - 360 | Jul-19-02 | ||||
| 11504122 2 | 25,000.00 | 24,971.51 | Dec-16-02 | 10.750% | VA - 29.41% | Paid Off - 360 | Jul-23-02 | ||||
| 11509558 2 | 234,000.00 | 233,593.16 | Dec-10-02 | 8.750% | CO - 90.00% | Paid Off - 360 | Jul-03-02 | ||||
| 11512192 2 | 195,000.00 | 193,958.54 | Dec-04-02 | 6.990% | NY - 70.91% | Paid Off - 360 | Apr-15-02 | ||||
| 11524886 2 | 96,900.00 | 96,834.98 | Dec-17-02 | 8.000% | IL - 95.00% | Paid Off - 360 | Sep-12-02 | ||||
| 11528797 2 | 85,000.00 | 84,906.59 | Nov-25-02 | 8.990% | CA - 33.46% | Paid Off - 360 | Aug-20-02 | ||||
| 11531159 2 | 187,500.00 | 187,156.10 | Dec-16-02 | 8.490% | CA - 75.00% | Paid Off - 360 | Jun-28-02 | ||||
| 21100557 2 | 52,500.00 | 49,660.33 | Dec-05-02 | 9.500% | CA - 50.00% | Paid Off - 360 | Feb-21-97 | ||||
| 66800187 2 | 113,400.00 | 109,423.86 | Nov-20-02 | 9.600% | OR - 90.00% | Paid Off - 360 | May-22-97 | ||||
| Page 20 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Realized Loss Report for December 26, 2002 Distribution | |||||||||||
| Realized Loss Report - Collateral | |||||||||||
| COLLATERAL REALIZED LOSSES | ADJUSTABLE | FIXED | TOTAL | ||||||||
| Current | |||||||||||
| Number of Loans Liquidated | - | - | - | ||||||||
| Collateral Realized Loss/(Gain) Amount | - | - | - | ||||||||
| Net Liquidation Proceeds | - | - | - | ||||||||
| Cumulative | |||||||||||
| Number of Loans Liquidated | - | - | - | ||||||||
| Collateral Realized Loss/(Gain) Amount | - | - | - | ||||||||
| Net Liquidation Proceeds | - | - | - | ||||||||
| Note: Collateral realized losses may include adjustments to lo ans liquidated in prior periods. | |||||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| Fixed | 3 Months Moving Average | ||||||||||
| Adjustable | |||||||||||
| Collateral Loss Severity Approximation by Groups | Collateral Loss Severity Approximation | ||||||||||
| Page 21 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Realized Loss Report for December 26, 2002 Distribution | |||||||||||
| Realized Loss Report - Collateral | |||||||||||
| &nbs p; | |||||||||||
| DEFAULT SPEEDS | ADJUSTABLE | FIXED | TOTAL | ||||||||
| &nbs p; | MDR | 0.00% | 0.00% | 0.00% | |||||||
| 3 Months Avg MDR | |||||||||||
| 12 Months Avg MDR | |||||||||||
| Avg MDR Since Cut-off | 0.00% | 0.00% | 0.00% | ||||||||
| CDR | 0.00% | 0.00% | 0.00% | ||||||||
| 3 Months Avg CDR | |||||||||||
| 12 Months Avg CDR | |||||||||||
| Avg CDR Since Cut-off | 0.00% | 0.00% | 0.00% | ||||||||
| SDA | 0.00% | 0.00% | 0.00% | ||||||||
| 3 Months Avg SDA Approximation | &nbs p; | ||||||||||
| 12 Months Avg SDA Approximation | |||||||||||
| Avg SDA Since Cut-off Approximation | 0.00% | 0.00% | 0.00% | ||||||||
| & nbsp; | |||||||||||
| Loss Severity Approximation for Current Period | |||||||||||
| 3 Months Avg Loss Severity Approximation | |||||||||||
| 12 Months Avg Loss Severity Approximation | |||||||||||
| Avg Loss Severity Approximation Since Cut-off | |||||||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| CDR by Groups | Total CDR | ||||||||||
| &nbs p; | |||||||||||
| SDA by Groups | Total SDA | ||||||||||
| Page 22 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Realized L oss Report for December 26, 2002 Distribution | |||||||||||
| &n bsp; | |||||||||||
| Realized Loss Report - Collateral | |||||||||||
| Fixed | |||||||||||
| Adjustable | |||||||||||
| CDR Avg since Cut-Off by Groups | Total CDR Avg since Cut-Off | ||||||||||
| ; | |||||||||||
| SDA Avg since Cut-Off by Groups | Total SDA Avg since Cut-Off | ||||||||||
| &nbs p; | |||||||||||
| COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY | |||||||||||
| Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance) | |||||||||||
| Conditional Default Rate (CDR): 1-((1-MDR)^12) | |||||||||||
| SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60))) | |||||||||||
| Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MD Rn+1) *.......*(1-MDRm)]^(1/months in period n,m) | |||||||||||
| Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12) | |||||||||||
| Average SDA Approximation over period between the nth month and mth month: | |||||||||||
| AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60))) | |||||||||||
| Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m) | |||||||||||
| Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans) | |||||||||||
| Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m) | |||||||||||
| Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods. | |||||||||||
| Dates correspond to distribution dates. | |||||||||||
| Page 23 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| &nbs p; | |||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Realized Loss Detail Report for December 26, 2002 Distribution | |||||||||||
| Realized Loss Detail Repor t - Loans Liquidated During Current Distribution | |||||||||||
| SUMMARY | LOAN GROUP | ||||||||||
| Total Loan Count = 0 | Loan Group 1 = Fixed Group | ||||||||||
| Total Original Principal Balance = 0.00 | Loan Group 2 = Adjustable Group | ||||||||||
| Total Prior Principal Balance = 0.00 | |||||||||||
| Total Realized Loss Amount = 0.00 | |||||||||||
| Total Net Liquidation Proceeds = 0.00 | |||||||||||
| &nbs p; | |||||||||||
| Loan Number | Original | Prior | Current | State & | |||||||
| & | Loan | Principal | Principal | Realized | Note | LTV at | Original | Origination | |||
| Loan Group | Status | Balance | Balance | Loss/(Gain) | Rate | Origination | Term | Date | |||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| Page 24 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2002 Distribution | |||||||||||
| Triggers, Adj. Rate Cert. and Miscellaneous Report | |||||||||||
| TRIGGER EVENTS | &n bsp; | ADJUSTABLE | FIXED | TOTAL | |||||||
| Trigger Event Occuring | No | No | No | ||||||||
| & nbsp; | |||||||||||
| Balance of Loans 60+ Delinquent | 1,145,620.42 | 0.00 | 1,145,620.42 | ||||||||
| ADJUSTABLE RATE CERTIFICATE INFORMATION | ADJUSTABLE | FIXED | TOTAL | ||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| ADDITIONAL INFORMATION | ADJUSTABLE | FIXED | TOTAL | ||||||||
| SPACE INTENTIONALLY LEFT BLANK | |||||||||||
| Page 25 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||
| Saxon Asset Securities Trust 2002-3 | |||||||||||
| Mortgage Loan Asset-Backed Certificates | |||||||||||
| Additional Certificate Report for December 26, 2002 Distribution | |||||||||||
| Additional Certificate Report | |||||||||||
| ; | |||||||||||
| CLASS | Civil Relief Act Shortfall | Cap Carryover Amt | Unpaid Realized Loss Amt | Interest Carry Forward Amt | |||||||
| &n bsp; | AF-1 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| AF-2 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| AF-3 | 0.00 | 9,690.55 | 0.00 | 0.00 | |||||||
| AF-4 | 0.00 | 27,963.70 | 0.00 | 0.00 | |||||||
| AF-5 | 0.00 | 50,459.74 | 0.00 | 0.00 | |||||||
| AF-6 | 0.00 | 30,979.50 | 0.00 | 0.00 | |||||||
| AV | 128.84 | 0.00 | 0.00 | 0.00 | |||||||
| A-IO | 67.84 | 0.00 | 0.00 | 0.00 | |||||||
| S | 3.41 | 0.00 | 0.00 | 0.00 | |||||||
| M-1 | 15.08 | 0.00 | 0.00 | 0.00 | |||||||
| M-2 | 16.92 | 44,508.73 | 0.00 | 0.00 | |||||||
| B | 14.61 | 97,022.70 | 0.00 | 0.00 | |||||||
| Page 26 of 26 | © COPYRIGHT 2002 Deutsche Bank | ||||||||||