SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool One
Payment Date: 26-Dec-96
Reporting Month: November
Interest Interest Principal
Original Original Integral Record Accrual Payment Payment Ending Remaining
Class Balance Pct Pool Denominatio Date Factor Factor Factor Balance Principal Factor
1A-1 $47,711,000.00 63.60% $1,000.00 30-Nov-96 5.25649808 5.25649808 17.75463583 $39,279,753.29 0.82328506
1A-2 $10,000,000.00 13.33% $1,000.00 30-Nov-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-Nov-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-Nov-96 6.19549253 6.19549253 0.67760424 $2,972,281.51 0.99060102
1B-2 $1,312,711.00 1.75% $1,000.00 30-Nov-96 6.19549162 6.19549162 0.67760535 $1,300,372.85 0.99060102
1B-3 $937,651.00 1.25% $1,000.00 30-Nov-96 6.19549278 6.19549278 0.67759753 $928,838.05 0.99060103
1B-4 $1,237,699.00 1.65% $1,000.00 30-Nov-96 6.19548856 6.19548856 0.67760417 $1,226,065.89 0.99060102
1B-5 $525,084.00 0.70% $1,000.00 30-Nov-96 6.19548491 6.19548491 0.67760587 $520,148.74 0.99060101
1B-6 $675,719.47 0.90% $1,000.00 30-Nov-96 6.19548524 6.19548524 0.67760368 $669,368.41 0.99060104
1I $0.00 0.00% $1,000.00 30-Nov-96 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 30-Nov-96 0.00000000 0.00000000 0.31857888 $3,105.37 0.98930531
1R $100.00 0.00% $1,000.00 30-Nov-96 146.30000000 146.30000000 17.80000000 $82.32 0.82320000
$75,012,086.41 $66,508,516.43
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool One
Payment Date: 26-Dec-96
Reporting Month:November
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
1A-1 7.500000% $40,126,844.72 $250,792.78 $0.00 $250,792.78 $40,832.92 $806,258.51 $1,097,884.21 $0.00 $39,279,753.29
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% $2,974,314.65 $18,589.47 $0.00 $18,589.47 $2,033.14 $0.00 $20,622.61 $0.00 $2,972,281.51
1B-2 7.500000% $1,301,262.35 $8,132.89 $0.00 $8,132.89 $889.50 $0.00 $9,022.39 $0.00 $1,300,372.85
1B-3 7.500000% $929,473.40 $5,809.21 $0.00 $5,809.21 $635.35 $0.00 $6,444.56 $0.00 $928,838.05
1B-4 7.500000% $1,226,904.56 $7,668.15 $0.00 $7,668.15 $838.67 $0.00 $8,506.82 $0.00 $1,226,065.89
1B-5 7.500000% $520,504.54 $3,253.15 $0.00 $3,253.15 $355.80 $0.00 $3,608.95 $0.00 $520,148.74
1B-6 7.500000% $669,826.28 $4,186.41 $0.00 $4,186.41 $457.87 $0.00 $4,644.28 $0.00 $669,368.41
1I 0.009980% $67,039,909.53 $80,284.59 $0.00 $80,284.59 $0.00 $0.00 $80,284.59 $0.00 $66,187,977.73
1P 0.000000% $3,106.37 $0.00 $0.00 $0.00 $1.00 $0.00 $1.00 $0.00 $3,105.37
1R 7.500000% $84.10 $14.63 $0.00 $14.63 $0.09 $1.69 $16.41 $0.00 $82.32
$67,360,820.97 $501,284.40 $0.00 $501,284.40 $46,044.34 $806,260.20 $1,353,588.94 $0.00 $66,508,516.43
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
Credit Enhancement Summary
SMSC Series 1995-2--Pool One
Payment Date: 26-Dec-96
Reporting Month November
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 10.25% $7,689,347.47 11.32% $7,622,285.78 $0.00 $0.00 $66,508,516.42 11.45% $7,617,075.45
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 9 $1,146,168 1.72%
60+ Days 2 $305,278 0.46%
90+ Days 9 $1,515,385 2.28%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 20 $2,966,832 4.46%
Advances on Delinquencies $25,302.05
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool Two
Payment Date: 26-Dec-96
Reporting Month: November
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-Nov-96 5.16452533 5.16452533 16.87758745 $17,956,760.21 0.80944646
2B-1 $654,275.00 2.75% $1,000.00 30-Nov-96 5.98590807 5.98590807 3.25809484 $624,496.45 0.95448619
2B-2 $237,918.00 1.00% $1,000.00 30-Nov-96 5.98588589 5.98588589 3.25809733 $227,089.46 0.95448625
2B-3 $237,918.00 1.00% $1,000.00 30-Nov-96 5.98588589 5.98588589 3.25809733 $227,089.46 0.95448625
2B-4 $226,022.00 0.95% $1,000.00 30-Nov-96 5.98592172 5.98592172 3.25808992 $215,734.86 0.95448611
2B-5 $118,959.00 0.50% $1,000.00 30-Nov-96 5.98592792 5.98592792 3.25809733 $113,544.71 0.95448608
2B-6 $131,139.17 0.55% $1,000.00 30-Nov-96 5.98593082 5.98593082 3.25806546 $125,170.55 0.95448637
2I $0.00 0.00% $1,000.00 30-Nov-96 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 30-Nov-96 0.00000000 0.00000000 3.26622721 $1,444.54 0.95317088
2R $100.00 0.00% $1,000.00 30-Nov-96 5.20000000 5.20000000 16.90000000 $80.93 0.80930000
$23,791,846.68 $19,491,411.17
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 26-Dec-96
Reporting Month November
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 6.75% $1,606,231.17 7.74% $1,538,358.74 $0.00 $0.00 $19,491,411.15 7.87% $1,533,125.49
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 3 $137,059 0.70%
60+ Days 1 $416,671 2.14%
90+ Days 0 $0 0.00%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 4 $553,731 2.84%
Advances on Delinquencies $6,169.54
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool Two
Payment Date: 26-Dec-96
Reporting Month:November
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 Notional Balance
2A 7.500000% $18,331,172.61 $114,569.83 $0.00 $114,569.83 $62,359.70 $312,052.70 $488,982.23 $0.00 $17,956,760.21
2B-1 7.500000% $626,628.14 $3,916.43 $0.00 $3,916.43 $2,131.69 $0.00 $6,048.12 $0.00 $624,496.45
2B-2 7.500000% $227,864.62 $1,424.15 $0.00 $1,424.15 $775.16 $0.00 $2,199.31 $0.00 $227,089.46
2B-3 7.500000% $227,864.62 $1,424.15 $0.00 $1,424.15 $775.16 $0.00 $2,199.31 $0.00 $227,089.46
2B-4 7.500000% $216,471.26 $1,352.95 $0.00 $1,352.95 $736.40 $0.00 $2,089.35 $0.00 $215,734.86
2B-5 7.500000% $113,932.29 $712.08 $0.00 $712.08 $387.58 $0.00 $1,099.66 $0.00 $113,544.71
2B-6 7.500000% $125,597.81 $784.99 $0.00 $784.99 $427.26 $0.00 $1,212.25 $0.00 $125,170.55
2I 0.009125% $19,508,688.85 $21,361.02 $0.00 $21,361.02 $0.00 $0.00 $21,361.02 $0.00 $19,130,273.07
2P 0.000000% $1,449.49 $0.00 $0.00 $0.00 $4.95 $0.00 $4.95 $0.00 $1,444.54
2R 7.500000% $82.62 $0.52 $0.00 $0.52 $0.28 $1.41 $2.21 $0.00 $80.93
$19,871,063.46 $145,546.12 $0.00 $145,546.12 $67,598.18 $312,054.11 $525,198.41 $0.00 $19,491,411.17
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
$0.00 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Funds Account Activity Report
SMSC Series 1995-2
Payment Date: 26-Dec-96
Report Date: November
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $646,830.52 Interest Distribution $646,830.52
Principal $1,231,956.83 Principal Distribution $1,231,956.83
Servicing Fee* $18,173.30 Servicing Fee* $18,173.30
Master Servicing and Trustee Fee* $2,180.80 Master Servicing and $2,180.80
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $1,899,141.45 Total Withdrawals $1,899,141.45
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.