SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool One
Payment Date: 27-Jan-97
Reporting Month: December
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 31-Dec-96 5.14553164 5.14553164 17.1179937 $38,463,036.69 0.80616706
1A-2 $10,000,000.00 13.33% $1,000.00 31-Dec-96 6.25000000 6.25000000 0.00000000 $10,000,000.00 1.00000000
1A-3 $9,608,500.00 12.81% $1,000.00 31-Dec-96 6.24999948 6.24999948 0.00000000 $9,608,500.00 1.00000000
1B-1 $3,000,483.00 4.00% $1,000.00 31-Dec-96 6.19125654 6.19125654 0.68115700 $2,970,237.71 0.98991986
1B-2 $1,312,711.00 1.75% $1,000.00 31-Dec-96 6.19125611 6 .1912561 0.68115526 $1,299,478.69 0.98991986
1B-3 $937,651.00 1.25% $1,000.00 31-Dec-96 6.19125879 6.19125879 0.68115962 $928,199.36 0.98991987
1B-4 $1,237,699.00 1.65% $1,000.00 31-Dec-96 6.19125490 6.19125490 0.68115915 $1,225,222.82 0.98991986
1B-5 $525,084.00 0.70% $1,000.00 31-Dec-96 6.19125702 6.19125702 0.68114816 $519,791.08 0.98991986
1B-6 $675,719.47 0.90% $1,000.00 31-Dec-96 6.19125271 6.19125271 0.68115545 $668,908.14 0.98991988
1I $0.00 0.00% $1,000.00 31-Dec-96 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 31-Dec-96 0.00000000 0.00000000 0.31857888 $3,104.37 0.98898673
1R $100.00 0.00% $1,000.00 31-Dec-96 146.10000000 146.10000000 17.1000000 $80.61 0.80610000
$75,012,086.41 $65,686,559.47
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool One
Payment Date: 27-Jan-97
Reporting Month December
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 10.25% $7,689,347.47 11.45% $7,617,075.45 $0.00 $0.00 $65,686,559.47 11.59% $7,611,837.80
Delinquency Statistics
Current % of
# of Loans Balance Current
30+ Days 6 $838,205 1.28%
60+ Days 1 $51,608 0.08%
90+ Days 12 $1,952,226 2.97%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 19 $2,842,039 4.33%
Advances on Delinquencies $24,181.91
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool One
Payment Date: 27-Jan-97
Reporting Month:December
Class Beginning Current Interest Scheduled Unscheduled
Interest Principal Interest ShortFall/ Interest Principal Principal Total Realized Ending
Class Rate Balance Accrual (Recovery) Distribution Distribution Distribution Distribution Losses Principal
1A-1 7.500000% $39,279,753.29 $245,498.46 $0.00 $245,498.46 $40,492.62 $776,223.98 $1,062,215.06 $0.00 $38,463,036.69
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% $2,972,281.51 $18,576.76 $0.00 $18,576.76 $2,043.80 $0.00 $20,620.56 $0.00 $2,970,237.71
1B-2 7.500000% $1,300,372.85 $8,127.33 $0.00 $8,127.33 $894.16 $0.00 $9,021.49 $0.00 $1,299,478.69
1B-3 7.500000% $928,838.05 $5,805.24 $0.00 $5,805.24 $638.69 $0.00 $6,443.93 $0.00 $928,199.36
1B-4 7.500000% $1,226,065.89 $7,662.91 $0.00 $7,662.91 $843.07 $0.00 $8,505.98 $0.00 $1,225,222.82
1B-5 7.500000% $520,148.74 $3,250.93 $0.00 $3,250.93 $357.66 $0.00 $3,608.59 $0.00 $519,791.08
1B-6 7.500000% $669,368.41 $4,183.55 $0.00 $4,183.55 $460.27 $0.00 $4,643.82 $0.00 $668,908.14
1I 1.432678% $66,187,977.73 $79,021.69 $0.00 $79,021.69 $0.00 $0.00 $79,021.69 $0.00 $65,366,395.91
1P 0.000000% $3,105.37 $0.00 $0.00 $0.00 $1.00 $0.00 $1.00 $0.00 $3,104.37
1R 7.500000% $82.32 $14.61 $0.00 $14.61 $0.08 $1.63 $16.32 $0.00 $80.61
$66,508,516.43 $494,694.60 $0.00 $494,694.60 $45,731.35 $776,225.61 $1,316,651.56 $0.00 $65,686,559.47
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
$0.00 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool Two
Payment Date: 27-Jan-97
Reporting Month: December
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 31-Dec-96 5.05904030 5.05904030 3.11792463 $17,887,592.17 0.80632853
2B-1 $654,275.00 2.75% $1,000.00 31-Dec-96 5.96553437 5.96553437 3.29801689 $622,338.64 0.95118817
2B-2 $237,918.00 1.00% $1,000.00 31-Dec-96 5.96554275 5.96554275 3.29802705 $226,304.80 0.95118822
2B-3 $237,918.00 1.00% $1,000.00 31-Dec-96 5.96554275 5.96554275 3.29802705 $226,304.80 0.95118822
2B-4 $226,022.00 0.95% $1,000.00 31-Dec-96 5.96552548 5.96552548 3.29799754 $214,989.44 0.95118811
2B-5 $118,959.00 0.50% $1,000.00 31-Dec-96 5.96550072 5.96550072 3.29802705 $113,152.38 0.95118806
2B-6 $131,139.17 0.55% $1,000.00 31-Dec-96 5.96557077 5.96557077 3.29802301 $124,738.05 0.95118834
2I $0.00 0.00% $1,000.00 31-Dec-96 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 31-Dec-96 0.00000000 0.00000000 3.28602253 $1,439.56 0.94988486
2R $100.00 0.00% $1,000.00 31-Dec-96 5.10000000 5.10000000 3.10000000 $80.62 0.80620000
$23,791,846.68 $19,416,940.46
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 27-Jan-97
Reporting Month December
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 6.75% $1,606,231.17 7.87% $1,533,125.49 $0.00 $0.00 $19,416,940.45 7.87% $1,527,828.11
Delinquency Statistics
Current % of
# of Loans Balance Current
30+ Days 2 $186,426 0.96%
60+ Days 0 $0 0.00%
90+ Days 2 $452,812 2.33%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 4 $639,238 3.29%
Advances on Delinquencies $7,035.16
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool Two
Payment Date: 27-Jan-97
Reporting Month:December
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% $17,956,760.21 $112,229.75 $0.00 $112,229.75 $62,045.51 $7,122.53 $181,397.79 $0.00 $17,887,592.17
2B-1 7.500000% $624,496.45 $3,903.10 $0.00 $3,903.10 $2,157.81 $0.00 $6,060.91 $0.00 $622,338.64
2B-2 7.500000% $227,089.46 $1,419.31 $0.00 $1,419.31 $784.66 $0.00 $2,203.97 $0.00 $226,304.80
2B-3 7.500000% $227,089.46 $1,419.31 $0.00 $1,419.31 $784.66 $0.00 $2,203.97 $0.00 $226,304.80
2B-4 7.500000% $215,734.86 $1,348.34 $0.00 $1,348.34 $745.42 $0.00 $2,093.76 $0.00 $214,989.44
2B-5 7.500000% $113,544.71 $709.65 $0.00 $709.65 $392.33 $0.00 $1,101.98 $0.00 $113,152.38
2B-6 7.500000% $125,170.55 $782.32 $0.00 $782.32 $432.50 $0.00 $1,214.82 $0.00 $124,738.05
2I 1.320607% $19,130,273.07 $21,052.97 $0.00 $21,052.97 $0.00 $0.00 $21,052.97 $0.00 $19,057,046.86
2P 0.000000% $1,444.54 $0.00 $0.00 $0.00 $4.98 $0.00 $4.98 $0.00 $1,439.56
2R 7.500000% $80.93 $0.51 $0.00 $0.51 $0.28 $0.03 $0.82 $0.00 $80.62
$19,491,411.17 $142,865.26 $0.00 $142,865.26 $67,348.15 $7,122.56 $217,335.97 $0.00 $19,416,940.46
Aggregate Aggregate
Class CUSIP Priority Principal Typ e 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: 27-Jan-97
Report Date: December
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $637,559.86 Interest Distribution $637,559.86
Principal $896,427.67 Principal Distribution $896,427.67
Servicing Fee* $17,916.65 Servicing Fee* $17,916.65
Master Servicing and Trustee $2,150.00 Master Servicing and $2,150.00
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $1,554,054.18 Total Withdrawals $1,554,054.18
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.