SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool One
Payment Date: 25-Feb-97
Reporting Month: January
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 31-Jan-97 5.03854415 5.03854415 29.1658007 $37,071,507.17 0.77700126
1A-2 $10,000,000.00 13.33% $1,000.00 31-Jan-97 6.25000000 6.25000000 0.00000000 $10,000,000.00 1.00000000
1A-3 $9,608,500.00 12.81% $1,000.00 31-Jan-97 6.24999948 6.24999948 0.00000000 $9,608,500.00 1.00000000
1B-1 $3,000,483.00 4.00% $1,000.00 31-Jan-97 6.18700056 6.18700056 0.68588957 $2,968,179.71 0.98923397
1B-2 $1,312,711.00 1.75% $1,000.00 31-Jan-97 6.18699775 6.18699775 0.68588593 $1,298,578.32 0.98923397
1B-3 $937,651.00 1.25% $1,000.00 31-Jan-97 6.18700348 6.18700348 0.68588419 $927,556.24 0.98923399
1B-4 $1,237,699.00 1.65% $1,000.00 31-Jan-97 6.18699700 6.18699700 0.68588566 $1,224,373.90 0.98923397
1B-5 $525,084.00 0.70% $1,000.00 31-Jan-97 6.18699103 6.18699103 0.68589026 $519,430.93 0.98923397
1B-6 $675,719.47 0.90% $1,000.00 31-Jan-97 6.18700539 6.18700539 0.68589114 $668,444.67 0.98923399
1I $0.00 0.00% $1,000.00 31-Jan-97 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 31-Jan-97 0.00000000 0.00000000 0.32176467 $3,103.36 0.98866496
1R $100.00 0.00% $1,000.00 31-Jan-97 146.00000000 146.00000000 29.2000000 $77.69 0.77690000
$75,012,086.41 64,289,751.99
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool One
Payment Date: 25-Feb-97
Reporting Month January
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 10.25% $7,689,347.47 11.59% $7,611,837.80 $0.00 $0.00 $64,289,751.99 11.83% $7,606,563.77
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 9 $1,289,973 2.01%
60+ Days 4 $778,009 1.21%
90+ Days 3 $585,371 0.91%
Foreclosure 4 $729,667 1.13%
REO 3 $520,393 0.81%
Totals 23 $3,903,414 6.07%
Advances on Delinquencies $33,192.10
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-Feb-97
Reporting Month:January
Class Beginning Current Interest Scheduled Unscheduled Ending
Interest Principal Interest Short Fall Interest Principal Principal Total Realized Principal
Class Rate Balance Accrual (Recovery) Distribution Distribution Distribution Distribution Losses Balance
1A-1 7.500000% $38,463,036.69 $240,393.98 $0.00 $240,393.98 $40,236.13 $1,351,293.39 $1,631,923.50 $0.00 $37,071,507.17
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% $2,970,237.71 $18,563.99 $0.00 $18,563.99 $2,058.00 $0.00 $20,621.99 $0.00 $2,968,179.71
1B-2 7.500000% $1,299,478.69 $8,121.74 $0.00 $8,121.74 $900.37 $0.00 $9,022.11 $0.00 $1,298,578.32
1B-3 7.500000% $928,199.36 $5,801.25 $0.00 $5,801.25 $643.12 $0.00 $6,444.37 $0.00 $927,556.24
1B-4 7.500000% $1,225,222.82 $7,657.64 $0.00 $7,657.64 $848.92 $0.00 $8,506.56 $0.00 $1,224,373.90
1B-5 7.500000% $519,791.08 $3,248.69 $0.00 $3,248.69 $360.15 $0.00 $3,608.84 $0.00 $519,430.93
1B-6 7.500000% $668,908.14 $4,180.68 $0.00 $4,180.68 $463.47 $0.00 $4,644.15 $0.00 $668,444.67
1I 1.431182% $65,366,395.91 $77,959.36 $0.00 $77,959.36 $0.00 $0.00 $77,959.36 $0.00 $63,969,965.98
1P 0.000000% $3,104.37 $0.00 $0.00 $0.00 $1.01 $0.00 $1.01 $0.00 $3,103.36
1R 7.500000% $80.61 $14.60 $0.00 $14.60 $0.08 $2.84 $17.52 $0.00 $77.69
$65,686,559.47 $488,495.05 $0.00 $488,495.05 $45,511.25 $1,351,296.23 $1,885,302.53 $0.00 $64,289,751.99
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: 25-Feb-97
Reporting Month: January
Interest Interest Principal
Original Original Integral Record Accrual Payment Payment Ending Remaining
Class Balance Pct Pool Denomination Date Factor Factor Factor Balance Principal Factor
2A $22,184,000.00 93.24% $1,000.00 31-Jan-97 5.03955328 5.03955328 16.5582451 $17,520,264.06 0.78977029
2B-1 $654,275.00 2.75% $1,000.00 31-Jan-97 5.94493141 5.94493141 3.32682740 $620,161.98 0.94786134
2B-2 $237,918.00 1.00% $1,000.00 31-Jan-97 5.94490539 5.94490539 3.32681848 $225,513.29 0.94786141
2B-3 $237,918.00 1.00% $1,000.00 31-Jan-97 5.94490539 5.94490539 3.32681848 $225,513.29 0.94786141
2B-4 $226,022.00 0.95% $1,000.00 31-Jan-97 5.94490802 5.94490802 3.32680005 $214,237.51 0.94786131
2B-5 $118,959.00 0.50% $1,000.00 31-Jan-97 5.94490539 5.94490539 3.32686051 $112,756.62 0.94786120
2B-6 $131,139.17 0.55% $1,000.00 31-Jan-97 5.94490571 5.94490571 3.32684735 $124,301.77 0.94786150
2I $0.00 0.00% $1,000.00 31-Jan-97 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 31-Jan-97 0.00000000 0.00000000 3.30581784 $1,434.55 0.94657904
2R $100.00 0.00% $1,000.00 31-Jan-97 5.00000000 5.00000000 16.6000000 $78.96 0.78960000
$23,791,846.68 $19,044,262.03
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 25-Feb-97
Reporting Month January
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% $1,527,828.11 $0.00 $0.00 $19,044,262.03 7.99% $1,522,484.46
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 4 $303,545 1.59%
60+ Days 3 $290,248 1.52%
90+ Days 3 $493,343 2.59%
Foreclosure 0 $0 0.00%
REO 0 $0 0.00%
Totals 10 $1,087,136 5.71%
Advances on Delinquencies $12,061.06
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-Feb-97
Reporting Month:January
Class Beginning Current Interest Scheduled Unscheduled Ending
Interest Principal Interest Short Fall Interest Principal Principal Total Realized Principal
Class Rate Balance Accrual (Recovery) Distribution Distribution Distribution Distribution Losses Balance
2A 7.500000% $17,887,592.17 $111,797.45 $0.00 $111,797.45 $62,562.61 $304,765.50 $479,125.56 $0.00 $17,520,264.06
2B-1 7.500000% $622,338.64 $3,889.62 $0.00 $3,889.62 $2,176.66 $0.00 $6,066.28 $0.00 $620,161.98
2B-2 7.500000% $226,304.80 $1,414.40 $0.00 $1,414.40 $791.51 $0.00 $2,205.91 $0.00 $225,513.29
2B-3 7.500000% $226,304.80 $1,414.40 $0.00 $1,414.40 $791.51 $0.00 $2,205.91 $0.00 $225,513.29
2B-4 7.500000% $214,989.44 $1,343.68 $0.00 $1,343.68 $751.93 $0.00 $2,095.61 $0.00 $214,237.51
2B-5 7.500000% $113,152.38 $707.20 $0.00 $707.20 $395.76 $0.00 $1,102.96 $0.00 $112,756.62
2B-6 7.500000% $124,738.05 $779.61 $0.00 $779.61 $436.28 $0.00 $1,215.89 $0.00 $124,301.77
2I 1.320604% $19,057,046.86 $20,972.34 $0.00 $20,972.34 $0.00 $0.00 $20,972.34 $0.00 $18,685,620.97
2P 0.000000% $1,439.56 $0.00 $0.00 $0.00 $5.01 $0.00 $5.01 $0.00 $1,434.55
2R 7.500000% $80.62 $0.50 $0.00 $0.50 $0.28 $1.38 $2.16 $0.00 $78.96
$19,416,940.46 $142,319.20 $0.00 $142,319.20 $67,911.55 $304,766.88 $514,997.63 $0.00 $19,044,262.03
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: 25-Feb-97
Report Date: January
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $630,814.25 Interest Distribution $630,814.25
Principal $1,769,485.91 Principal Distribution $1,769,485.91
Servicing Fee* $17,729.90 Servicing Fee* $17,729.90
Master Servicing and Trustee $2,127.58 Master Servicing and $2,127.58
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $2,420,157.64 Total Withdrawals $2,420,157.64
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.