SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2 --Pool One
Payment Date: 27-Oct-97
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
1A-1 7.500000% $31,636,813.82 $197,730.09 $0.00 $197,730.09 $38,856.33 $1,724,125.56 $1,960,711.98 $0.00 $29,873,831.93
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% $2,953,118.28 $18,456.99 $0.00 $18,456.99 $2,239.18 $0.00 $20,696.17 $0.00 $2,950,879.10
1B-2 7.500000% $1,291,988.93 $8,074.93 $0.00 $8,074.93 $979.64 $0.00 $9,054.57 $0.00 $1,291,009.29
1B-3 7.500000% $922,849.54 $5,767.81 $0.00 $5,767.81 $699.74 $0.00 $6,467.55 $0.00 $922,149.80
1B-4 7.500000% $1,218,161.06 $7,613.51 $0.00 $7,613.51 $923.66 $0.00 $8,537.17 $0.00 $1,217,237.40
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% $268,033.53 $1,675.21 $0.00 $1,675.21 $0.00 $0.00 $1,675.21 $8,075.38 $259,958.15
1I 1.422928% $58,103,499.71 $68,897.58 $0.00 $68,897.58 $0.00 $0.00 $68,897.58 $0.00 $56,327,992.87
1P 0.000000% $3,096.10 $0.00 $0.00 $0.00 $1.06 $0.00 $1.06 $0.00 $3,095.04
1R 7.500000% $65.51 $14.51 $0.00 $14.51 $0.08 $3.59 $18.18 $0.00 $61.84
$58,420,574.14 $434,020.92 $0.00 $434,020.92 $43,699.69 $1,724,129.15 $2,201,849.76 $8,075.38 $56,644,669.92
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 $407,539.71 $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
$407,539.71 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Monthly Payment Report
Payment Statement
SMSC Series 1995-2--Pool Two
Payment Date: 27-Oct-97
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% $15,757,836.53 $98,486.48 $0.00 $98,486.48 $62,248.41 $702,653.97 $863,388.86 $0.00 $14,992,934.15
2B-1 7.500000% $604,199.44 $3,776.25 $0.00 $3,776.25 $2,386.78 $0.00 $6,163.03 $0.00 $601,812.66
2B-2 7.500000% $219,708.73 $1,373.18 $0.00 $1,373.18 $867.92 $0.00 $2,241.10 $0.00 $218,840.81
2B-3 7.500000% $219,708.73 $1,373.18 $0.00 $1,373.18 $867.92 $0.00 $2,241.10 $0.00 $218,840.81
2B-4 7.500000% $208,723.19 $1,304.52 $0.00 $1,304.52 $0.00 $0.00 $1,304.52 $17,802.48 $190,920.71
2B-5 7.500000% $109,854.35 $686.59 $0.00 $686.59 $0.00 $0.00 $686.59 $109,854.35 $0.00
2B-6 7.500000% $121,102.33 $756.89 $0.00 $756.89 $0.00 $0.00 $756.89 $121,102.33 $0.00
2I 1.287631% $16,892,959.02 $18,126.58 $0.00 $18,126.58 $0.00 $0.00 $18,126.58 $0.00 $15,876,483.76
2P 0.000000% $1,398.56 $0.00 $0.00 $0.00 $5.27 $0.00 $5.27 $0.00 $1,393.29
2R 7.500000% $71.01 $0.44 $0.00 $0.44 $0.28 $4.28 $5.00 $0.00 $66.45
$17,242,602.87 $125,884.11 $0.00 $125,884.11 $66,376.58 $702,658.25 $894,918.94 $248,759.16 $16,224,808.88
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 $17,802.48 $0.00
2B-5 N/A Subordinate Pro Rata Fixed $109,854.35 $0.00
2B-6 N/A Subordinate Pro Rata Fixed $121,102.33 $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
$248,759.16 $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2
Payment Date: 25-Oct-97
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-97 4.14432919 4.14432919 36.95126670 $29,873,831.93 0.62614139
1A-2 $10,000,000.00 13.33% $1,000.00 30-Sep-97 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-97 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-97 6.15133963 6.15133963 0.74627318 $2,950,879.10 0.98346803
1B-2 $1,312,711.00 1.75% $1,000.00 30-Sep-97 6.15133872 6.15133872 0.74627241 $1,291,009.29 0.98346802
1B-3 $937,651.00 1.25% $1,000.00 30-Sep-97 6.15133989 6.15133989 0.74626913 $922,149.80 0.98346805
1B-4 $1,237,699.00 1.65% $1,000.00 30-Sep-97 6.15134213 6.15134213 0.74627191 $1,217,237.40 0.98346803
1B-5 $525,084.00 0.70% $1,000.00 30-Sep-97 6.16505169 6.16505169 0.00000000 $517,947.37 0.98640859
1B-6 $675,719.47 0.90% $1,000.00 30-Sep-97 2.47915011 2.47915011 0.00000000 $259,958.15 0.38471313
1I $0.00 0.00% $1,000.00 30-Sep-97 N/A N/A N/A $0.00 N/A
1P $3,138.94 0.00% $1,000.00 30-Sep-97 0.00000000 0.00000000 0.33769362 $3,095.04 0.98601439
1R $100.00 0.00% $1,000.00 30-Sep-97 145.10000000 145.10000000 36.70000000 $61.84 0.61840000
$75,012,086.41 $56,644,669.92
SAXON MORTGAGE SECURITIES CORPORATION
Payments per Bond Denomination
SMSC Series 1995-2--Pool Two
Payment Date: 27-Oct-97
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
2A $22,184,000.00 3.24% $1,000.00 30-Sep-97 4.43952759 4.43952759 34.47991250 $14,992,934.15 0.67584449
2B-1 $654,275.00 2.75% $1,000.00 30-Sep-97 5.77165565 5.77165565 3.64797677 $601,812.66 0.91981607
2B-2 $237,918.00 1.00% $1,000.00 30-Sep-97 5.77165242 5.77165242 3.64797956 $218,840.81 0.91981611
2B-3 $237,918.00 1.00% $1,000.00 30-Sep-97 5.77165242 5.77165242 3.64797956 $218,840.81 0.91981611
2B-4 $226,022.00 0.95% $1,000.00 30-Sep-97 5.77165055 5.77165055 0.00000000 $190,920.71 0.84469968
2B-5 $118,959.00 0.50% $1,000.00 30-Sep-97 5.77165242 5.77165242 0.00000000 $0.00 0.00000000
2B-6 $131,139.17 0.55% $1,000.00 30-Sep-97 5.77165465 5.77165465 0.00000000 $0.00 0.00000000
2I $0.00 0.00% $1,000.00 30-Sep-97 N/A N/A N/A $0.00 N/A
2P $1,515.51 0.01% $1,000.00 30-Sep-97 0.00000000 0.00000000 3.47737725 $1,393.29 0.91935388
2R $100.00 0.00% $1,000.00 30-Sep-97 4.40000000 4.40000000 45.60000000 $66.45 0.66450000
$23,791,846.68 $16,224,808.88
SAXON MORTGAGE SECURITIES CORPORATION
Funds Account Activity Report
SMSC Series 1995-2
Payment Date: 27-Oct-97
Report Date: September
Collateral Proceeds Account
Beginning Balance $0.00
Deposits Withdrawals
Interest Net of Servicing Fee, Master
Fee and Trustee Fee $559,905.03 Interest Distribution $559,905.03
Principal $2,536,863.67 Principal Distribution $2,536,863.67
Servicing Fee* $15,763.16 Servicing Fee* $15,763.16
Master Servicing and Trustee $1,891.58 Master Servicing and $1,891.58
Deposits From Reserve Fund $0.00
Other Deposits $0.00
Total Deposit $3,114,423.44 Total Withdrawals $3,114,423.44
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--Pool One
Payment Date: 27-Oct-97
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 12.28% $7,172,098.71 $0.00 $0.00$ 56,644,669.92 12.64% $7,159,181.11
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 10 $1,471,363 2.60%
60+ Days 3 $322,901 0.57%
90+ Days 2 $203,583 0.36%
Foreclosure 6 $1,034,590 1.83%
REO 3 $470,739 0.83%
Totals 24 $3,503,177 6.18%
Advances on Delinquencies $29,966.80
Non-Recoverable Advances on Delinquencies $0.00
SAXON MORTGAGE SECURITIES CORPORATION
Credit Enhancement Summary
SMSC Series 1995-2--Pool Two
Payment Date: 27-Oct-97
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 8.60% $1,483,296.77 $0.00 $0.00 $16,224,808.85 7.58% $1,230,414.99
Delinquency Statistics
Current % of
# of Loans Balance Current Balance
30+ Days 2 $129,516 0.80%
60+ Days 1 $105,739 0.65%
90+ Days 1 $41,132 0.25%
Foreclosure 1 $73,712 0.45%
REO 0 $0 0.00%
Totals 5 $350,099 2.16%
Advances on Delinquencies $3,958.28
Non-Recoverable Advances on Delinquencies $0.00