SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 25, 2003 SAXON ASSET SECURITIES COMPANY, (as Depositor, Saxon Mortgage Inc., as Master Servicer, Saxon Mortgage Services Inc., as Servicer and Deutsche Bank National Trust Company, as Trustee). SAXON ASSET SECURITIES TRUST 2003-2 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-67170-06 52-1865887 (Commission File Number) (I.R.S. Employer Identification No.) 4951 Lake Brook Drive Glen Allen, Virginia 23060 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (804) 967-7400 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of June 25, 2003. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Deutsche Bank National Trust Company, not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of May 1,2003.. Date: Jul 02, 2003 By: /s/ David Co David Co Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of June 25, 2003.

Washington, D.C. 20549


	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates


	June 25, 2003 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				15
			8.	Foreclosure Report				16
			9.	Prepayment Report				17
			10.	Prepayment Detail Report				20
			11.	Realized Loss Report				21
			12.	Realized Loss Detail Report				24
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				25
			14.	Additional Certificate Report				26



				Total Number of Pages				26



			CONTACTS

				Administrator: Brent Hoyler
				Direct Phone Number: (714)247-6322
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		Saxon					Cut-Off Date: May 1, 2003
	Certificate Insurer(s):							Closing Date: May 29, 2003
								First Payment Date: June 25, 2003
	Servicer(s):		Saxon Mortgage, Inc. Master Servicer
			Saxon Mortgage Services, Inc. Sub-Servicer

								Distribution Date: June 25, 2003
	Underwriter(s):		CS First Boston Lead Underwriter					Record Date: June 24, 2003
			RBS Greenwich Capital Underwriter					May 30, 2003
			J. P. Morgan Underwriter
			Merrill Lynch & Co. Underwriter




						Page 1 of 26					© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates
	REMIC V Series 2003-2
	Certificate Payment Report for June 25, 2003 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

AF-1	FLT	64,460,000.00			64,460,000.00	67,683.00	459,157.73	526,840.73	-	-	64,000,842.27
AF-2	AFC	30,330,000.00			30,330,000.00	53,001.68	-	53,001.68	-	-	30,330,000.00
AF-3	AFC	26,930,000.00			26,930,000.00	56,889.63	-	56,889.63	-	-	26,930,000.00
AF-4	AFC	20,820,000.00			20,820,000.00	61,523.10	-	61,523.10	-	-	20,820,000.00
AF-5	STEP	20,760,000.00			20,760,000.00	78,230.60	-	78,230.60	-	-	20,760,000.00
AF-6	STEP	18,100,000.00			18,100,000.00	58,070.83	-	58,070.83	-	-	18,100,000.00
AV-1	FLT	162,800,000.00			162,800,000.00	195,360.00	513,207.29	708,567.29	-	-	162,286,792.71
AV-2	FLT	162,800,000.00			162,800,000.00	197,802.00	2,075,072.33	2,272,874.33	-	-	160,724,927.67
A-IO	IO	-			-	609,583.33	-	609,583.33	-	-	-
S	IO	-			-	-	-	-	-	-	-
M-1	MEZ	37,500,000.00			37,500,000.00	56,812.50	-	56,812.50	-	-	37,500,000.00
M-2	MEZ	31,500,000.00			31,500,000.00	72,528.75	-	72,528.75	-	-	31,500,000.00
M-3	MEZ	18,000,000.00			18,000,000.00	58,320.00	-	58,320.00	-	-	18,000,000.00
B	SUB	6,000,000.00			6,000,000.00	22,815.00	-	22,815.00	-	-	6,000,000.00
C	SUB	-			-	-	-	-	-	-	-
P	SUB	-			-	11,111.20	-	11,111.20	-	-	-
R	R	-			-	-	-	-	-	-	-


Total		600,000,000.00			600,000,000.00	1,599,731.62	3,047,437.35	4,647,168.97	-	-	596,952,562.65
Non-Delay Certificates Record Date: 6/24/03

	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)

AF-1	05/29/03	06/24/03		A-Act/360	805564NG2	64,460,000.00	1,000.000000	1.050000	7.123142	8.173142	992.876858
AF-2				F-30/360	805564NH0	30,330,000.00	1,000.000000	1.747500	-	1.747500	1,000.000000
AF-3				F-30/360	805564NJ6	26,930,000.00	1,000.000000	2.112500	-	2.112500	1,000.000000
AF-4				F-30/360	805564NK3	20,820,000.00	1,000.000000	2.955000	-	2.955000	1,000.000000
AF-5				F-30/360	805564NL1	20,760,000.00	1,000.000000	3.768333	-	3.768333	1,000.000000
AF-6				F-30/360	805564NM9	18,100,000.00	1,000.000000	3.208333	-	3.208333	1,000.000000
AV-1	05/29/03	06/24/03		A-Act/360	805564NN7	162,800,000.00	1,000.000000	1.200000	3.152379	4.352379	996.847621
AV-2	05/29/03	06/24/03		A-Act/360	805564NP2	162,800,000.00	1,000.000000	1.215000	12.746145	13.961145	987.253855
A-IO				F-30/360	805564NQ0	154,000,000.00	1,000.000000	3.958333	-	3.958333	996.753247
S	05/29/03	06/24/03		A-Act/360	805564NV9	385,287,772.00	1,000.000000	-	-	-	731.544382
M-1	05/29/03	06/24/03		A-Act/360	805564NR8	37,500,000.00	1,000.000000	1.515000	-	1.515000	1,000.000000
M-2	05/29/03	06/24/03		A-Act/360	805564NS6	31,500,000.00	1,000.000000	2.302500	-	2.302500	1,000.000000
M-3	05/29/03	06/24/03		A-Act/360	805564NT4	18,000,000.00	1,000.000000	3.240000	-	3.240000	1,000.000000
B	05/29/03	06/24/03		A-Act/360	805564NU1	6,000,000.00	1,000.000000	3.802500	-	3.802500	1,000.000000
C				A-30/360		-	-	-	-	-	-
P				-		-	-	-	-	-	-
R				-		-	-	-	-	-	-


							Page 2 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates
	REMIC V Series 2003-2
	Certificate Payment Report for June 25, 2003 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

AF-1	64,460,000.00		67,683.00		300,126.69	159,031.04	459,157.73	526,840.73	-	-	64,000,842.27
AF-2	30,330,000.00		53,001.68		-	-	-	53,001.68	-	-	30,330,000.00
AF-3	26,930,000.00		56,889.63		-	-	-	56,889.63	-	-	26,930,000.00
AF-4	20,820,000.00		61,523.10		-	-	-	61,523.10	-	-	20,820,000.00
AF-5	20,760,000.00		78,230.60		-	-	-	78,230.60	-	-	20,760,000.00
AF-6	18,100,000.00		58,070.83		-	-	-	58,070.83	-	-	18,100,000.00
AV-1	162,800,000.00		195,360.00		410,263.02	102,944.27	513,207.29	708,567.29	-	-	162,286,792.71
AV-2	162,800,000.00		197,802.00		1,971,903.93	103,168.40	2,075,072.33	2,272,874.33	-	-	160,724,927.67
A-IO	-		609,583.33		-	-	-	609,583.33	-	-	-
S	-		-		-	-	-	-	-	-	-
M-1	37,500,000.00		56,812.50		-	-	-	56,812.50	-	-	37,500,000.00
M-2	31,500,000.00		72,528.75		-	-	-	72,528.75	-	-	31,500,000.00
M-3	18,000,000.00		58,320.00		-	-	-	58,320.00	-	-	18,000,000.00
B	6,000,000.00		22,815.00		-	-	-	22,815.00	-	-	6,000,000.00
C	-		-		-	-	-	-	-	-	-
P	-		11,111.20		-	-	-	11,111.20	-	-	-
R	-		-		-	-	-	-	-	-	-


Total	600,000,000.00		1,599,731.62		2,682,293.64	365,143.71	3,047,437.35	4,647,168.97	-	-	596,952,562.65


	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)

AF-1	1.40000%	64,460,000.00			67,683.00	-	-	-	67,683.00	67,683.00	-
AF-2	2.09700%	30,330,000.00			53,001.68	-	-	-	53,001.68	53,001.68	-
AF-3	2.53500%	26,930,000.00			56,889.63	-	-	-	56,889.63	56,889.63	-
AF-4	3.54600%	20,820,000.00			61,523.10	-	-	-	61,523.10	61,523.10	-
AF-5	3.82034%	20,760,000.00			78,230.60	-	-	-	78,230.60	78,230.60	-
AF-6	3.82034%	18,100,000.00			58,070.83	-	-	-	58,070.83	58,070.83	-
AV-1	1.60000%	162,800,000.00			195,360.00	-	-	-	195,360.00	195,360.00	-
AV-2	1.62000%	162,800,000.00			197,802.00	-	-	-	197,802.00	197,802.00	-
A-IO	4.75000%	154,000,000.00			609,583.33	-	-	-	609,583.33	609,583.33	-
S		385,287,772.00			-	-	-	-	-	-	-
M-1	2.02000%	37,500,000.00			56,812.50	-	-	-	56,812.50	56,812.50	-
M-2	3.07000%	31,500,000.00			72,528.75	-	-	-	72,528.75	72,528.75	-
M-3	4.32000%	18,000,000.00			58,320.00	-	-	-	58,320.00	58,320.00	-
B	4.54607%	6,000,000.00			22,815.00	-	-	-	22,815.00	22,815.00	-
C	2.16666%	599,988,721.76			-	-	-	-	-	-	1,083,310.75
P		-			11,111.20	-	-	-	11,111.20	11,111.20	-
R		-			-	-	-	-	-	-	-


Total		1,739,276,493.76			1,599,731.62	-	-	-	1,599,731.62	1,599,731.62	1,083,310.75
See page 26 for Optimal Pass-Through Rate

							Page 3 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collection Account Report for June 25, 2003 Distribution


	Collection Account Report


SUMMARY					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Principal Collections				1,337,323.09	330,658.85	284,866.42	1,952,848.36
	Principal Withdrawals				0.00	0.00	0.00	0.00
	Principal Other Accounts				97.27	112.21	11,068.76	11,278.24
	TOTAL NET PRINCIPAL				1,337,420.36	330,771.06	295,935.18	1,964,126.60

	Interest Collections				924,606.44	899,206.29	978,913.21	2,802,725.94
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	0.00
	Interest Fees				(37,437.41)	(38,105.34)	(44,140.81)	(119,683.57)
	TOTAL NET INTEREST				887,169.03	861,100.95	934,772.40	2,683,042.37

	TOTAL AVAILABLE FUNDS TO BONDHOLDERS				2,224,589.39	1,191,872.01	1,230,707.58	4,647,168.97


PRINCIPAL - COLLECTIONS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Scheduled Principal				103,168.40	102,944.27	159,031.04	365,143.71
	Curtailments				9,546.27	17,554.74	30,754.31	57,855.32
	Prepayments in Full				1,224,608.42	210,159.84	95,081.07	1,529,849.33
	Repurchases/Substitutions Shortfalls				0.00	0.00	0.00	0.00
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Principal				0.00	0.00	0.00	0.00
	Other Additional Principal				0.00	0.00	0.00	0.00
	Delinquent Principal				(11,314.61)	(9,642.56)	(7,498.78)	(28,455.95)
	Advanced Principal				11,314.61	9,642.56	7,498.78	28,455.95
	Realized Losses				0.00	0.00	0.00	0.00


	TOTAL PRINCIPAL COLLECTED				1,337,323.09	330,658.85	284,866.42	1,952,848.36


				Page 4 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collection Account Report for June 25, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Prefunded Release Amount				97.27	112.21	11,068.76	11,278.24

	TOTAL OTHER ACCOUNTS PRINCIPAL				97.27	112.21	11,068.76	11,278.24


INTEREST - COLLECTIONS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Scheduled Interest				901,386.75	902,688.46	980,657.52	2,784,732.73
	Repurchases/Substitutions				0.00	0.00	0.00	0.00
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Additional Interest				0.00	0.00	0.00	0.00
	Month End Interest (PPIS)				0.00	0.00	0.00	0.00
	Delinquent Interest				(113,244.37)	(93,366.01)	(56,845.03)	(263,455.41)
	Realized Losses				0.00	0.00	0.00	0.00
	Compensating Month End Interest				0.00	0.00	0.00	0.00
	Other Interest Shortfall (Relief Act)				0.00	0.00	0.00	0.00
	Non Recoverable Advance				0.00	0.00	0.00	0.00
	Interest Advanced				109,094.06	89,883.84	54,692.72	253,670.62
	Prepayment Penalties				27,370.00	0.00	408.00	27,778.00

	TOTAL INTEREST COLLECTED				924,606.44	899,206.29	978,913.21	2,802,725.94


				Page 5 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collection Account Report for June 25, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - OTHER ACCOUNTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL



	TOTAL OTHER ACCOUNT INTEREST				0.00	0.00	0.00	0.00


INTEREST - FEES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Current Servicing Fees				31,496.31	32,164.27	37,527.51	101,188.09
	Master Servicing Fee				5,941.10	5,941.07	6,613.30	18,495.48


	TOTAL INTEREST OTHER FEES				37,437.41	38,105.34	44,140.81	119,683.57


				Page 6 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Credit Enhancement Report for June 25, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Basis Risk Reserve Fund Beginning Balance							1,000.00
	Basis Risk Payment							0.00
	Cap Carryover Amount							0.00
	Excess of Required Reserve Fund Deposit							0.00
	Basis Risk Reserve Fund Ending Balance							1,000.00

	Required Reserve Fund Deposit							0.00
	Int Earnings on Basis Risk Reserve Fund (pay to Class C)							0.00


INSURANCE					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Extra Principal Distribution Amt				737,651.97	182,436.23	163,222.55	1,083,310.75
	Overcollateralization Amount							1,083,310.75
	Overcollateralization Requirement							3,540,000.00
	Overcollateralization Release Amount				0.00	0.00	0.00	0.00


				Page 7 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collateral Report for June 25, 2003 Distribution


	Collateral Report


COLLATERAL					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
	Loan Count:
	*Original*				742	912	1101	2755
	Prior				-	-	-	-
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(2)	(1)	(2)	(5)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				740	911	1,099	2,750

	*Principal Balance:*
	Original				142,586,463.63	142,585,777.53	158,719,281.46	443,891,522.62
	Prior				-	-	-	-
	Prefunding				-	-	-	-
	Scheduled Principal				(103,168.40)	(102,944.27)	(159,031.04)	(365,143.71)
	Partial and Full Voluntary Prepayments				(1,234,154.69)	(227,714.58)	(125,835.38)	(1,587,704.65)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				141,249,140.54	142,255,118.68	158,434,415.04	441,938,674.26

PREFUNDING					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Prefunding Beginning Balance				50,076,258.27	50,076,944.36	55,955,274.75	156,108,477.38
	Balance of Subsequent Loans Transfered				0.00	0.00	0.00	0.00
	Prefunded Amount Dispursed To Offered Certificates				(97.27)	(112.21)	(11,068.76)	(11,278.24)
	Prefunding Ending Balance				50,076,161.00	50,076,832.15	55,944,205.99	156,097,199.14


	Fixed		Adjustable
	Adjustable
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collateral Report for June 25, 2003 Distribution


	Collateral Report


CHARACTERISTICS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Coupon Original				7.586022%	7.597014%	7.414279%	7.528144%
	Weighted Average Coupon Prior
	Weighted Average Coupon Current				7.586022%	7.597014%	7.414279%	7.528144%
	Weighted Average Months to Maturity Original				359	359	313	343
	Weighted Average Months to Maturity Prior				-	-	-	-
	Weighted Average Months to Maturity Current				359	359	313	343
	Weighted Avg Remaining Amortization Term Original				358	358	328	347
	Weighted Avg Remaining Amortization Term Prior				-	-	-	-
	Weighted Avg Remaining Amortization Term Current				358	358	328	347
	Weighted Average Seasoning Original				1.84	1.85	1.54	1.73
	Weighted Average Seasoning Prior				-	-	-	-
	Weighted Average Seasoning Current				1.84	1.85	1.54	1.73

Note: Original information refers to deal issue.


	Fixed		Adjustable
	Adjustable
WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Collateral Report for June 25, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Margin Original				5.000%	5.219%
	Weighted Average Margin Prior
	Weighted Average Margin Current				5.000%	5.219%
	Weighted Average Max Rate Original				14.000%	14.055%	7.415%
	Weighted Average Max Rate Prior
	Weighted Average Max Rate Current				14.000%	14.055%	7.415%
	Weighted Average Min Rate Original				7.000%	6.716%	7.415%
	Weighted Average Min Rate Prior
	Weighted Average Min Rate Current				7.000%	6.716%	7.415%
	Weighted Average Cap Up Original				1.000%	1.034%
	Weighted Average Cap Up Prior
	Weighted Average Cap Up Current				1.000%	1.034%
	Weighted Average Cap Down Original				1.000%	1.034%
	Weighted Average Cap Down Prior
	Weighted Average Cap Down Current				1.000%	1.034%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Current Servicing Fees				31,496.31	32,164.27	37,527.51	101,188.09
	Delinquent Servicing Fees				4,150.31	3,482.17	2,152.31	9,784.79
	Master Servicing Fees				5,941.10	5,941.07	6,613.30	18,495.48

	TOTAL SERVICING FEES				41,587.72	41,587.51	46,293.12	129,468.36

	Total Servicing Fees				41,587.72	41,587.51	46,293.12	129,468.36
	Compensating Month End Interest				0.00	0.00	0.00	0.00
	Delinquent Servicing Fees				(4,150.31)	(3,482.17)	(2,152.31)	(9,784.79)

	COLLECTED SERVICING FEES				37,437.41	38,105.34	44,140.81	119,683.57

	Prepayment Interest Shortfall				0.00	0.00	0.00	0.00

	Total Advanced Interest				109,094.06	89,883.84	54,692.72	253,670.62


ADDITIONAL COLLATERAL INFORMATION					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Net Rate				5.355262%	5.363371%	5.223232%	5.310629%
	Largest Loan Balance				1,398,395.51	479,720.00	1,000,000.00	1,398,395.51

	Next One-Month LIBOR							1.035000%
	Current One-Month LIBOR							1.320000%


				Page 10 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Delinquency Report for June 25, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			242,314.19	-	-	242,314.19
		% Balance			0.05%	0.00%	0.00%	0.05%
		# Loans			2	-	-	2
		% # Loans			0.07%	0.00%	0.00%	0.07%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	242,314.19	-	-	242,314.19
		% Balance		0.00%	0.05%	0.00%	0.00%	0.05%
		# Loans		-	2	-	-	2
		% # Loans		0.00%	0.07%	0.00%	0.00%	0.07%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 11 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Delinquency Report for June 25, 2003 Distribution


	Delinquency Report - Fixed Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			38,821.38	-	-	38,821.38
		% Balance			0.02%	0.00%	0.00%	0.02%
		# Loans			1	-	-	1
		% # Loans			0.09%	0.00%	0.00%	0.09%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	38,821.38	-	-	38,821.38
		% Balance		0.00%	0.02%	0.00%	0.00%	0.02%
		# Loans		-	1	-	-	1
		% # Loans		0.00%	0.09%	0.00%	0.00%	0.09%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 12 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Delinquency Report for June 25, 2003 Distribution


	Delinquency Report - Adjustable Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 13 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Delinquency Report for June 25, 2003 Distribution


	Delinquency Report - Adjustable Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			203,492.81	-	-	203,492.81
		% Balance			0.14%	0.00%	0.00%	0.14%
		# Loans			1	-	-	1
		% # Loans			0.14%	0.00%	0.00%	0.14%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%

TOTAL		Balance		-	203,492.81	-	-	203,492.81
		% Balance		0.00%	0.14%	0.00%	0.00%	0.14%
		# Loans		-	1	-	-	1
		% # Loans		0.00%	0.14%	0.00%	0.00%	0.14%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 14 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	REO Report for June 25, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Fixed Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Adjustable Group; REO Book Value = 000.00
Total Current Balance = 000.00				Loan Group 3 = Adjustable Group; REO Book Value = 000.00
REO Book Value = 000.00

REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.

Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 15 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Foreclosure Report for June 25, 2003 Distribution


	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Fixed Group
Total Original Principal Balance = 000.00				Loan Group 2 = Adjustable Group
Total Current Balance = 000.00				Loan Group 3 = Adjustable Group


Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


				Page 16 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Prepayment Report for June 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	*Current*
	Number of Paid in Full Loans				2	1	2	5
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				2	1	2	5

	Paid in Full Balance				1,224,608.42	210,159.84	95,081.07	1,529,849.33
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				9,546.27	17,554.74	30,754.31	57,855.32
	Total Prepayment Amount				1,234,154.69	227,714.58	125,835.38	1,587,704.65

	*Cumulative*
	Number of Paid in Full Loans				2	1	2	5
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				2	1	2	5

	Paid in Full Balance				1,224,608.42	210,159.84	95,081.07	1,529,849.33
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				9,546.27	17,554.74	30,754.31	57,855.32
	Total Prepayment Amount				1,234,154.69	227,714.58	125,835.38	1,587,704.65

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 17 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Prepayment Report for June 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	SMM				0.87%	0.16%	0.08%	0.36%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off				0.87%	0.16%	0.08%	0.36%

	CPR				9.91%	1.90%	0.95%	4.21%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off				9.91%	1.90%	0.95%	4.21%

	PSA				2693.74%	514.60%	308.83%	1215.27%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				2693.74%	514.60%	308.83%	1215.27%



	Fixed		Adjustable
	Adjustable


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 18 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Prepayment Report for June 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments

	Fixed		Adjustable
	Adjustable

CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off


PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off


PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.

				Page 19 of 26				© COPYRIGHT 2003 Deutsche Bank


	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Prepayment Detail Report for June 25, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 5						Loan Group 1 = Fixed Group
Total Original Principal Balance = 1,532,050.00						Loan Group 2 = Adjustable Group
Total Prepayment Amount = 1,529,849.33						Loan Group 3 = Adjustable Group


Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

11585134 1			55,900.00	54,897.91	May-31-03	8.500%	FL - 50.82%	Paid Off - 360	Apr-23-03
11585602 1			40,800.00	40,183.16	Jun-10-03	11.500%	OH - 60.00%	Paid Off - 180	Sep-16-02
11586831 2			210,350.00	210,159.84	May-31-03	6.500%	VA - 79.99%	Paid Off - 360	Mar-27-03
11573882 3			595,000.00	595,000.00	Jun-17-03	11.500%	CT - 70.00%	Paid Off - 360	Apr-25-03
11574059 3			630,000.00	629,608.42	Jun-10-03	8.375%	CA - 70.00%	Paid Off - 360	Mar-28-03


					Page 20 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Realized Loss Report for June 25, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	*Current*
	Number of Loans Liquidated				-	-	-	-
	Collateral Realized Loss/(Gain) Amount				-	-	-	-
	Net Liquidation Proceeds				-	-	-	-

	*Cumulative*
	Number of Loans Liquidated				-	-	-	-
	Collateral Realized Loss/(Gain) Amount				-	-	-	-
	Net Liquidation Proceeds				-	-	-	-

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.


	Current Principal Loss				0.00	0.00	0.00	0.00
	Current Interest Loss/Expenses				0.00	0.00	0.00	0.00
	Additional Losses from Prior Periods				0.00	0.00	0.00	0.00
	TOTAL REALIZED LOSSES				0.00	0.00	0.00	0.00


	Fixed		Adjustable				3 Months Moving Average
	Adjustable

Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 21 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Realized Loss Report for June 25, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.00%	0.00%

	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.00%	0.00%

	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	0.00%	0.00%	0.00%

	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off

	Fixed		Adjustable
	Adjustable
CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 22 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Realized Loss Report for June 25, 2003 Distribution


	Realized Loss Report - Collateral

	Fixed		Adjustable
	Adjustable

CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off


SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off


COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.

				Page 23 of 26				© COPYRIGHT 2003 Deutsche Bank


	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Realized Loss Detail Report for June 25, 2003 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 0						Loan Group 1 = Fixed Group
Total Original Principal Balance = 0.00						Loan Group 2 = Adjustable Group
Total Prior Principal Balance = 0.00						Loan Group 3 = Adjustable Group
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.

Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK


					Page 24 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Triggers, Adj. Rate Cert. and Miscellaneous Report for June 25, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Trigger Event Occuring				No	No	No	No


	Balance of Loans 60+ Delinquent				0.00	0.00	0.00	0.00


ADJUSTABLE RATE CERTIFICATE INFORMATION					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Class A-IO-I Component Balance							63,400,000.00
	Class A-IO-II/III Component Balance							90,600,000.00

	Fixed Rate Net WAC Cap							3.820339%
	Fixed Rate Net WAC Cap (AF-1 Only)							4.244821%
	Variable Net WAC Cap							4.713853%
	Subordinate Net WAC Cap							4.546073%


				Page 25 of 26				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Sercurites Trust 2003-2
	Mortgage Pass-Through Certificates

	Additional Certificate Report for June 25, 2003 Distribution


	Additional Certificate Report


	CLASS				Optimal Pass-Through Rate	Civil Relief Act Shortfall	Cap Carryover Amt	Unpaid Realized Loss Amt

	AF-1				1.400000%	0.00	0.00	0.00
	AF-2				2.097000%	0.00	0.00	0.00
	AF-3				2.535000%	0.00	0.00	0.00
	AF-4				3.546000%	0.00	0.00	0.00
	AF-5				4.522000%	0.00	12,138.74	0.00
	AF-6				3.850000%	0.00	447.38	0.00
	AV-1				1.600000%	0.00	0.00	0.00
	AV-2				1.620000%	0.00	0.00	0.00
	A-IO				4.750000%	0.00	0.00	0.00
	S				0.000000%	0.00	0.00	0.00
	M-1				2.020000%	0.00	0.00	0.00
	M-2				3.070000%	0.00	0.00	0.00
	M-3				4.320000%	0.00	0.00	0.00
	B				5.070000%	0.00	2,357.67	0.00


				Page 26 of 26				© COPYRIGHT 2003 Deutsche Bank

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

June 17, 2003

SAXON ASSET SECURITIES COMPANY (as Depositor under the Pooling and Servicing Agreement, dated as of May 1, 2003, providing for the issuance of Mortgage Loan Asset Backed Certificates, Series 2003-2)

Saxon Asset Securities Company

(Exact Name of Registrant as Specified in its Charter)

Virginia	333-103240	52-1865887
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

4860 Cox Road Glen Allen, Virginia		23060
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (804) 967-7400

None

(Former Name or Former Address, if Changed Since Last Report)

Item 5. Other Events

The Registrant registered issuances of Mortgage Loan Asset Backed Certificates, Series 2003-2 on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by Registration Statement on Form S-3 (Registration File Nos. 333-103240) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $600,000,000 in aggregate principal amount of Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5, Class AF-6, Class AV-1, Class AV-2, Class A-IO, Class M-1, Class M-2, Class M-3, Class B and Class S Certificates (the “Certificates”) on May 29, 2003. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus Supplement, dated May 14, 2003 (and together with the Prospectus, dated February 27, 2003, the “Prospectus Supplement”), to file information relating to subsequent mortgage loans (the “Subsequent Mortgage Loans”) purchased by the Registrant.

Pursuant to the Subsequent Sales Agreement (the “Subsequent Sales Agreement”), attached as Exhibit 4.1, dated June 17, 2003, between Saxon Mortgage, Inc. (“SMI”) and Saxon Asset Securities Company (“Saxon”), and acknowledged by Deutsche Bank Trust Company Americas, the Registrant purchased Subsequent Mortgage Loans for inclusion in the Trust Fund established pursuant to the Pooling and Servicing Agreement, dated as of May 1, 2003 (the “Pooling and Servicing Agreement”), among Saxon as depositor, SMI, as master servicer, Saxon Mortgage Services, Inc., as servicer and the Trustee, a form of which was filed as an exhibit to the Registrant’s Form 8-K filed on June 12, 2003. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Pooling and Servicing Agreement and in the Subsequent Sales Agreement, as applicable.

Item 7. Financial Statements; Pro Forma Financial Information and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.1

Subsequent Sales Agreement, dated June 17, 2003, between Saxon Mortgage, Inc. and Saxon Asset Securities Company, and acknowledged by Deutsche Bank Trust Company Americas, as Trustee.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SAXON ASSET SECURITIES COMPANY

By: /s/ Ernest G. Bretana

Name: Ernest G. Bretana

Title: Vice President

Dated: June 17, 2003

EXHIBIT INDEX

Exhibit No.

Description

Page No.

4.1

Subsequent Sales Agreement, dated June 17, 2003,

between Saxon Mortgage, Inc. and Saxon Asset

Securities Company, and acknowledged by Deutsche

Bank Trust Company Americas, as Trustee.

Filing Compare · SAXON ASSET SECURITIES TRUST 2003-2