SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool One
Payment Date: 25-Oct-96
Reporting Month: September
Interest Interest Principal
Original Original Integral Record Accrual Payment Payment Ending Remaining
Class Balance Pct Pool Denomination Date Factor Factor Factor Balance Principal Factor
1A-1 $47,711,000.00 63.60% $1,000.00 30-Sep-96 5.36323909 5.36323909 7.35374211 $40,590,826.17 0.85076452
1A-2 $10,000,000.00 13.33% $1,000.00 30-Sep-96 6.25000000 6.25000000 0.00000000 $10,000,000.00 1.00000000
1A-3 $9,608,500.00 12.81% $1,000.00 30-Sep-96 6.24999948 6.24999948 0.00000000 $9,608,500.00 1.00000000
1B-1 $3,000,483.00 4.00% $1,000.00 30-Sep-96 6.20384785 6.20384785 0.66545619 $2,976,330.10 0.99195033
1B-2 $1,312,711.00 1.75% $1,000.00 30-Sep-96 6.20384837 6.20384837 0.66545492 $1,302,144.11 0.99195033
1B-3 $937,651.00 1.25% $1,000.00 30-Sep-96 6.20384343 6.20384343 0.66545015 $930,103.23 0.99195034
1B-4 $1,237,699.00 1.65% $1,000.00 30-Sep-96 6.20385086 6.20385086 0.66545259 $1,227,735.93 0.99195033
1B-5 $525,084.00 0.70% $1,000.00 30-Sep-96 6.20384548 6.20384548 0.66545543 $520,857.24 0.99195032
1B-6 $675,719.47 0.90% $1,000.00 30-Sep-96 6.20384669 6.20384669 0.66545367 $670,280.17 0.99195036
1I $0.00 0.00% $1,000.00 30-Sep-96 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 30-Sep-96 0.00000000 0.00000000 0.31220731 $3,107.36 0.98993928
1R $100.00 0.00% $1,000.00 30-Sep-96 146.4000000 146.4000000 7.40000000 $85.07 0.85070000
$75,012,086.41 $67,829,969.38
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool One
Payment Date: 25-Oct-96
Reporting Month September
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 10.25% $7,689,347.47 11.19% $7,632,567.69 $0.00 $0.00 $67,829,969.35 11.24% $7,627,450.78
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 5 $333,255 0.49%
60+ Days 2 $256,468 0.38%
90+ Days 7 $1,260,868 1.86%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 14 $1,850,591 2.73%
Advances on Delinquencies $15,581.94
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool One
Payment Date: 25-Oct-96
Reporting Month:September
Class Beginning CurrentInterest Scheduled Unscheduled Ending
Interest Principal Interest ShortFall/ Interest Principal Principal Total Realized Principal
Class Rate Balance Accrual (Recovery) Distribution Distribution Distribution Distribution Losses Balance
1A-1 7.500000% $40,941,680.56 $255,885.50 $0.00 $255,885.50 $40,593.16 $310,261.23 $606,739.89 $0.00 $40,590,826.17
1A-2 7.500000% $10,000,000.00 $62,500.00 $0.00 $62,500.00 $0.00 $0.00 $62,500.00 $0.00 $10,000,000.00
1A-3 7.500000% $9,608,500.00 $60,053.12 $0.00 $60,053.12 $0.00 $0.00 $60,053.12 $0.00 $9,608,500.00
1B-1 7.500000% $2,978,326.79 $18,614.54 $0.00 $18,614.54 $1,996.69 $0.00 $20,611.23 $0.00 $2,976,330.10
1B-2 7.500000% $1,303,017.66 $8,143.86 $0.00 $8,143.86 $873.55 $0.00 $9,017.41 $0.00 $1,302,144.11
1B-3 7.500000% $930,727.19 $5,817.04 $0.00 $5,817.04 $623.96 $0.00 $6,441.00 $0.00 $930,103.23
1B-4 7.500000% $1,228,559.56 $7,678.50 $0.00 $7,678.50 $823.63 $0.00 $8,502.13 $0.00 $1,227,735.93
1B-5 7.500000% $521,206.66 $3,257.54 $0.00 $3,257.54 $349.42 $0.00 $3,606.96 $0.00 $520,857.24
1B-6 7.500000% $670,729.83 $4,192.06 $0.00 $4,192.06 $449.66 $0.00 $4,641.72 $0.00 $670,280.17
1I 1.433947% $67,864,292.61 $81,094.86 $0.00 $81,094.86 $0.00 $0.00 $81,094.86 $0.00 $67,508,687.58
1P 0.000000% $3,108.34 $0.00 $0.00 $0.00 $0.98 $0.00 $0.98 $0.00 $3,107.36
1R 7.500000% $85.81 $14.64 $0.00 $14.64 $0.09 $0.65 $15.38 $0.00 $85.07
$68,185,942.40 $507,251.66 $0.00 $507,251.66 $45,711.14 $310,261.88 $863,224.68 $0.00 $67,829,969.38
Aggregate Aggregate
Class CUSIP Priority Principal Type Interest Type Realized Losses Interest Shortfall
1A-1 805570JK5 Senior Pro Rata Fixed $0.00 $0.00
1A-2 805570JL3 Senior Sequential Fixed $0.00 $0.00
1A-3 805570JM1 Senior Sequential Fixed $0.00 $0.00
1B-1 805570JN9 Subordinate Pro Rata Fixed $0.00 $0.00
1B-2 805570JP4 Subordinate Pro Rata Fixed $0.00 $0.00
1B-3 805570JQ2 Subordinate Pro Rata Fixed $0.00 $0.00
1B-4 N/A Subordinate Pro Rata Fixed $0.00 $0.00
1B-5 N/A Subordinate Pro Rata Fixed $0.00 $0.00
1B-6 N/A Subordinate Pro Rata Fixed $0.00 $0.00
1I 805570JV1 Senior Interest Only Interest Only $0.00 $0.00
1P 805570JW9 Senior Principal Only Principal Only $0.00 $0.00
1R 805570JX7 Senior Pro Rata Fixed $0.00 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool Two
Payment Date: 25-Oct-96
Reporting Month: September
Interest Interest Principal
Original Original Integral Record Accrual Payment Payment Ending Remaining
Class Balance Pct Pool Denominatio Date Factor Factor Factor Balance Principal Factor
2A $22,184,000.00 93.24% $1,000.00 30-Sep-96 5.22510548 5.22510548 4.99391904 $18,435,412.71 0.83102293
2B-1 $654,275.00 2.75% $1,000.00 30-Sep-96 6.02610523 6.02610523 3.20056551 $628,742.24 0.96097549
2B-2 $237,918.00 1.00% $1,000.00 30-Sep-96 6.02610984 6.02610984 3.20055649 $228,633.38 0.96097555
2B-3 $237,918.00 1.00% $1,000.00 30-Sep-96 6.02610984 6.02610984 3.20055649 $228,633.38 0.96097555
2B-4 $226,022.00 0.95% $1,000.00 30-Sep-96 6.02609480 6.02609480 3.20057340 $217,201.59 0.96097544
2B-5 $118,959.00 0.50% $1,000.00 30-Sep-96 6.02610984 6.02610984 3.20059853 $114,316.67 0.96097538
2B-6 $131,139.17 0.55% $1,000.00 30-Sep-96 6.02611714 6.02611714 3.20056929 $126,021.55 0.96097566
2I $0.00 0.00% $1,000.00 30-Sep-96 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 30-Sep-96 0.00000000 0.00000000 3.22003814 $1,454.40 0.95967694
2R $100.00 0.00% $1,000.00 30-Sep-96 5.20000000 5.20000000 5.00000000 $83.09 0.83090000
$23,791,846.68 $19,980,499.01
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 25-Oct-96
Reporting Month September
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 6.75%$1,606,231.17 7.71% $1,548,689.66 $0.00 $0.00 $19,980,498.99 7.73% $1,543,548.81
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 1 $564,097 2.82%
60+ Days 0 $0 0.00%
90+ Days 0 $0 0.00%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 1 $564,097 2.82%
Advances on Delinquencies $6,205.76
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool Two
Payment Date: 25-Oct-96
Reporting Month:September
Class Beginning Current Interest Scheduled Unscheduled Ending
Interest Principal Interest ShortFall/ Interest Principal Principal Total Realized Principal
Class Rate Balance Accrual (Recovery) Distribution Distribution Distribution Distribution Losses Balance
2A 7.500000% $18,546,197.81 $115,913.74 $0.00 $115,913.74 $61,563.85 $49,221.25 $226,698.84 $0.00 $18,435,412.71
2B-1 7.500000% $630,836.29 $3,942.73 $0.00 $3,942.73 $2,094.05 $0.00 $6,036.78 $0.00 $628,742.24
2B-2 7.500000% $229,394.85 $1,433.72 $0.00 $1,433.72 $761.47 $0.00 $2,195.19 $0.00 $228,633.38
2B-3 7.500000% $229,394.85 $1,433.72 $0.00 $1,433.72 $761.47 $0.00 $2,195.19 $0.00 $228,633.38
2B-4 7.500000% $217,924.99 $1,362.03 $0.00 $1,362.03 $723.40 $0.00 $2,085.43 $0.00 $217,201.59
2B-5 7.500000% $114,697.41 $716.86 $0.00 $716.86 $380.74 $0.00 $1,097.60 $0.00 $114,316.67
2B-6 7.500000% $126,441.27 $790.26 $0.00 $790.26 $419.72 $0.00 $1,209.98 $0.00 $126,021.55
2I 1.313185% $19,731,606.45 $21,592.71 $0.00 $21,592.71 $0.00 $0.00 $21,592.71 $0.00 $19,616,895.82
2P 0.000000% $1,459.28 $0.00 $0.00 $0.00 $4.88 $0.00 $4.88 $0.00 $1,454.40
2R 7.500000% $83.59 $0.52 $0.00 $0.52 $0.28 $0.22 $1.02 $0.00 $83.09
$20,096,430.34 $147,186.29 $0.00 $147,186.29 $66,709.86 $49,221.47 $263,117.62 $0.00 $19,980,499.01
Aggregate Aggregate
Class CUSIP Priority Principal Type Interest Type Realized Losses Interest Shortfall
2A 805570JR0 Senior Pro Rata Fixed $0.00 $0.00
2B-1 805570JS8 Subordinate Pro Rata Fixed $0.00 $0.00
2B-2 805570JT6 Subordinate Pro Rata Fixed $0.00 $0.00
2B-3 805570JU3 Subordinate Pro Rata Fixed $0.00 $0.00
2B-4 N/A Subordinate Pro Rata Fixed $0.00 $0.00
2B-5 N/A Subordinate Pro Rata Fixed $0.00 $0.00
2B-6 N/A Subordinate Pro Rata Fixed $0.00 $0.00
2I 805570JY5 Senior Interest Only Interest Only $0.00 $0.00
2P 805570JZ2 Senior Principal Only Principal Only $0.00 $0.00
2R 805570KA5 Senior Pro Rata Fixed $0.00 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Funds Account Activity Report
SMSC Series 1995-2
Payment Date: 25-Oct-96
Report Date: September
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $654,437.95 Interest Distribution $654,437.95
Principal $471,904.35 Principal Distribution $471,904.35
Servicing Fee* $18,392.16 Servicing Fee* $18,392.16
Master Servicing and Trustee Fee* $2,207.06 Master Servicing and $2,207.06
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $1,146,941.52 Total Withdrawals $1,146,941.52
Ending Balance $0.00
Note: "Principal" and Interest Net of Servicing Fee" includes
Advances on Delinquencies
* Actual cash deposited and withdrawn from the Trust Account may not
include Servicing Fee, Master Servicing Fee and Trustee Fee.