SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2
Payment Date: 25-Sep-97
Reporting Month:August
Class Beginning Current 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% $33,032,706.31 $206,454.41 $0.00 $206,454.41 $39,379.11 $1,356,513.38 $1,602,346.90 $0.00 $31,636,813.82
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% $2,955,329.06 $18,470.81 $0.00 $18,470.81 $2,210.78 $0.00 $20,681.59 $0.00 $2,953,118.28
1B-2 7.500000% $1,292,956.15 $8,080.98 $0.00 $8,080.98 $967.22 $0.00 $9,048.20 $0.00 $1,291,988.93
1B-3 7.500000% $923,540.41 $5,772.13 $0.00 $5,772.13 $690.87 $0.00 $6,463.00 $0.00 $922,849.54
1B-4 7.500000% $1,219,073.01 $7,619.21 $0.00 $7,619.21 $911.95 $0.00 $8,531.16 $0.00 $1,218,161.06
1B-5 7.500000% $517,947.37 $3,237.17 $0.00 $3,237.17 $0.00 $0.00 $3,237.17 $0.00 $517,947.37
1B-6 7.500000% $365,837.98 $2,286.49 $0.00 $2,286.49 $0.00 $0.00 $2,286.49 $97,804.45 $268,033.53
1I 1.432331% $59,601,586.78 $71,161.02 $0.00 $71,161.02 $0.00 $0.00 $71,161.02 $0.00 $58,103,499.71
1P 0.000000% $3,097.16 $0.00 $0.00 $0.00 $1.06 $0.00 $1.06 $0.00 $3,096.10
1R 7.500000% $68.61 $14.53 $0.00 $14.53 $0.08 $3.02 $17.63 $0.00 $65.51
$59,919,056.06 $445,649.87 $0.00 $445,649.87 $44,161.07 $1,356,516.40 $1,846,327.34 $97,804.45 $58,420,574.14
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 $399,464.33 $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
$399,464.33 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool Two
Payment Date: 25-Sep-97
Reporting Month:August
Class Beginning Current 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% $16,299,069.35 $101,869.18 $0.00 $101,869.18 $63,405.34 $477,827.48 $643,102.00 $0.00 $15,757,836.53
2B-1 7.500000% $606,559.03 $3,790.99 $0.00 $3,790.99 $2,359.59 $0.00 $6,150.58 $0.00 $604,199.44
2B-2 7.500000% $220,566.76 $1,378.54 $0.00 $1,378.54 $858.03 $0.00 $2,236.57 $0.00 $219,708.73
2B-3 7.500000% $220,566.76 $1,378.54 $0.00 $1,378.54 $858.03 $0.00 $2,236.57 $0.00 $219,708.73
2B-4 7.500000% $209,538.32 $1,309.61 $0.00 $1,309.61 $815.13 $0.00 $2,124.74 $0.00 $208,723.19
2B-5 7.500000% $110,283.37 $689.27 $0.00 $689.27 $429.02 $0.00 $1,118.29 $0.00 $109,854.35
2B-6 7.500000% $121,575.27 $759.85 $0.00 $759.85 $472.94 $0.00 $1,232.79 $0.00 $121,102.33
2I 1.297167% $17,438,681.99 $18,850.73 $0.00 $18,850.73 $0.00 $0.00 $18,850.73 $0.00 $16,892,959.02
2P 0.000000% $1,403.80 $0.00 $0.00 $0.00 $5.24 $0.00 $5.24 $0.00 $1,398.56
2R 7.500000% $73.45 $0.46 $0.00 $0.46 $0.29 $2.15 $2.90 $0.00 $71.01
$17,789,636.11$130,027.17 $0.00 $130,027.17 $69,203.61 $477,829.63 $677,060.41 $0.00 $17,242,602.87
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
Payments per Bond Denomination
SMSC Series 1995-2
Payment Date: 25-Sep-97
Reporting Month: August
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-Aug-97 4.32718681 4.32718681 29.25724650 $31,636,813.82 0.66309266
1A-2 $10,000,000.00 13.33% $1,000.00 31-Aug-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-Aug-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-Aug-97 6.15594556 6.15594556 0.73680804 $2,953,118.28 0.98421430
1B-2 $1,312,711.00 1.75% $1,000.00 31-Aug-97 6.15594750 6.15594750 0.73681107 $1,291,988.93 0.98421429
1B-3 $937,651.00 1.25% $1,000.00 31-Aug-97 6.15594715 6.15594715 0.73680932 $922,849.54 0.98421432
1B-4 $1,237,699.00 1.65% $1,000.00 31-Aug-97 6.15594745 6.15594745 0.73681081 $1,218,161.06 0.98421430
1B-5 $525,084.00 0.70% $1,000.00 31-Aug-97 6.16505169 6.16505169 0.00000000 $517,947.37 0.98640859
1B-6 $675,719.47 0.90% $1,000.00 31-Aug-97 3.38378588 3.38378588 0.00000000 $268,033.53 0.39666391
1I $0.00 0.00% $1,000.00 31-Aug-97 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 31-Aug-97 0.00000000 0.00000000 0.33769362 $3,096.10 0.98635208
1R $100.00 0.00% $1,000.00 31-Aug-97 145.30000000 145.30000000 31.00000000 $65.51 0.65510000
$75,012,086.41 $58,420,574.14
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool Two
Payment Date: 25-Sep-97
Reporting Month: August
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-Aug-97 4.59201136 4.59201136 24.39744050 $15,757,836.53 0.71032440
2B-1 $654,275.00 2.75% $1,000.00 31-Aug-97 5.79418440 5.79418440 3.60641932 $604,199.44 0.92346405
2B-2 $237,918.00 1.00% $1,000.00 31-Aug-97 5.79418119 5.79418119 3.60641061 $219,708.73 0.92346409
2B-3 $237,918.00 1.00% $1,000.00 31-Aug-97 5.79418119 5.79418119 3.60641061 $219,708.73 0.92346409
2B-4 $226,022.00 0.95% $1,000.00 31-Aug-97 5.79417048 5.79417048 3.60641884 $208,723.19 0.92346404
2B-5 $118,959.00 0.50% $1,000.00 31-Aug-97 5.79418119 5.79418119 3.60645264 $109,854.35 0.92346397
2B-6 $131,139.17 0.55% $1,000.00 31-Aug-97 5.79422609 5.79422609 3.60639769 $121,102.33 0.92346421
2I $0.00 0.00% $1,000.00 31-Aug-97 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 31-Aug-97 0.00000000 0.00000000 3.45758194 $1,398.56 0.92283126
2R $100.00 0.00% $1,000.00 31-Aug-97 4.60000000 4.60000000 24.40000000 $71.01 0.71010000
$23,791,846.68 $17,242,602.87
SAXON MORTGAGE SECURITIES CORPORATION
Funds Account Activity Report
SMSC Series 1995-2
Payment Date: 25-Sep-97
Report Date: August
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $575,677.04 Interest Distribution $575,677.04
Principal $1,947,710.71 Principal Distribution $1,947,710.71
Servicing Fee* $16,189.31 Servicing Fee* $16,189.31
Master Servicing and Trustee $1,942.72 Master Servicing and $1,942.72
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $2,541,519.78 Total Withdrawals $2,541,519.78
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.
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2
Payment Date: 25-Sep-97
Reporting Month August
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 10.25% $7,689,347.47 12.14% $7,274,683.98 $0.00 $97,804.45 $58,420,574.15 12.28% $7,172,098.71
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 9 $922,762 1.58%
60+ Days 0 $0 0.00%
90+ Days 4 $668,083 1.14%
Foreclosure 6 $914,794 1.57%
REO 3 $456,378 0.78%
Totals 22 $2,962,017 5.07%
Advances on Delinquencies $25,794.71
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 25-Sep-97
Reporting Month August
Reserve Funds and Subordination
Initial Coverage Beginning Coverage Adjustments Losses Insured Balance Ending Coverage
Type Purpose
Subordination 6.75% $1,606,231.17 8.37% $1,489,089.51 $0.00 $0.00 $17,242,602.84 8.60% $1,483,296.77
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 2 $181,051 1.05%
60+ Days 1 $41,261 0.24%
90+ Days 0 $0 0.00%
Foreclosure 2 $206,002 1.19%
REO 1 $403,495 2.34%
Totals 6 $831,810 4.82%
Advances on Delinquencies $9,404.06
Non-Recoverable Advances on Delinquencies $0.00