UNITED STATES 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): ~~September~~December 27, 2004 (Date of earliest event reported) SAXON ASSET SECURITIES COMPANY, (as Depositor, under the Sale and Servicing Agreement, dated as July 1, 2004, providing for the issuance of Saxon Asset Securities Trust 2004-2 Mortgage Loan Asset Backed Notes and Certificates, Series 2004-2) (Exact name of registrant as specified in charter) VIRGINIA (State or Other Jurisdiction of Incorporation) 333-111832-02 52-1865887 (Commission File Number) (I.R.S. Employer Identification No.) 4880 Cox Road Suite 100 Glen Allen, Virginia 23060 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (804) 967-7400 (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. This current report on Form 8-K relates to the monthly distribution reported to the holders of Saxon Asset Securities Trust 2004-2 Mortgage Loan Asset Backed Notes and Certificates, Series 2004-2 which was made on July 1, 2004 Item 9.01 Financial Statements and Exhibits. (c) Exhibits Exhibit No. Description 99.1 Monthly Remittance Statement to the Certificateholders dated as of ~~September~~December 27, 2004. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized. DEUTSCHE BANK TRUST COMPANY AMERICAS, IN ITS CAPACITY AS INDENTURE TRUSTEE UNDER THE SALE AND SERVICING AGREEMENT ON BEHALF OF SAXON ASSET SECURITIES COMPANY, REGISTRANT Date: ~~Sep~~Dec 27, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of ~~September~~December 27, 2004.

	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	September 27, 2004 Distribution
	December 27, 2004 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				2223
			12.	Realized Loss Detail Report				2526
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				2627
			14.	Additional Certificate Report				2728
				Total Number of Pages				2728
			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
				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Saxon Mortgage, Inc.					Cut-Off Date: July 1, 2004
	Certificate Insurer(s):							Closing Date: July 27, 2004
								First Payment Date: August 25, 2004
	Servicer(s):		Saxon Mortgage, Inc. Master Servicer
			Saxon Mortgage Services, Inc.
								Distribution Date: September 27, 2004
								Distribution Date: December 27, 2004
	Underwriter(s):		CS First Boston Lead Underwriter					Record Date: ~~September~~December 24, 2004
			J. P. Morgan Underwriter					~~August~~November 3130, 2004
			Merrill Lynch & Co. Underwriter
			RBS Greenwich Capital Underwriter
						Page 1 of 27					© COPYRIGHT 2004 Deutsche Bank
						Page 1 of 28					© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Series 2004-2
	Certificate Payment Report for September 27, 2004 Distribution
	Certificate Payment Report for December 27, 2004 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	190,000,000.00			~~185~~166,~~826~~838,238.7642	~~302~~336,~~354~~179.7805	27,~~895~~291,~~988~~482.8884	37,~~198~~627,~~343~~661.6689	-	-	~~182~~159,~~930~~546,~~249~~755.8858
AF-2	AFC	68,747,000.00			68,747,000.00	237,750.04	-	237,750.04	-	-	68,747,000.00
AF-3	AFC	87,397,000.00			87,397,000.00	380,905.26	-	380,905.26	-	-	87,397,000.00
AF-4	STEP	11,633,000.00			11,633,000.00	53,317.92	-	53,317.92	-	-	11,633,000.00
AF-5	STEP	39,753,000.00			39,753,000.00	165,306.23	-	165,306.23	-	-	39,753,000.00
AV-1	STEP	309,301,000.00			~~306~~288,~~916~~032,~~464~~823.6990	~~538~~615,~~766~~110.2810	49,~~613~~139,~~220~~877.0251	59,~~151~~754,~~986~~987.3061	-	-	~~302~~278,~~303~~892,~~244~~946.6739
AV-2	STEP	309,305,000.00			~~304~~282,~~687~~348,~~439~~978.8447	~~532~~600,~~060~~540.4459	411,~~484~~767,~~253~~368.7177	512,~~016~~367,~~314~~909.1536	-	-	~~300~~270,~~203~~581,~~186~~609.1370
A-IO	IO	-			-	461,666.67	-	461,666.67	-	-	-
MF-1	MEZ	22,847,000.00			22,847,000.00	104,715.42	-	104,715.42	-	-	22,847,000.00
MF-2	MEZ	17,135,000.00			17,135,000.00	78,535.42	-	78,535.42	-	-	17,135,000.00
MF-3	MEZ	5,712,000.00			5,712,000.00	26,180.00	-	26,180.00	-	-	5,712,000.00
MF-4	MEZ	4,569,000.00			4,569,000.00	20,941.25	-	20,941.25	-	-	4,569,000.00
MF-5	MEZ	4,569,000.00			4,569,000.00	20,941.25	-	20,941.25	-	-	4,569,000.00
MF-6	MEZ	4,568,000.00			4,568,000.00	20,936.67	-	20,936.67	-	-	4,568,000.00
MV-1	MEZ	48,300,000.00			48,300,000.00	97114,~~183~~793.6300	-	97114,~~183~~793.6300	-	-	48,300,000.00
MV-2	MEZ	39,011,000.00			39,011,000.00	~~100~~113,~~664~~543.6368	-	~~100~~113,~~664~~543.6368	-	-	39,011,000.00
MV-3	MEZ	11,146,000.00			11,146,000.00	2933,~~476~~112.5391	-	2933,~~476~~112.5391	-	-	11,146,000.00
MV-4	MEZ	11,146,000.00			11,146,000.00	3438,~~891~~199.6282	-	3438,~~891~~199.6282	-	-	11,146,000.00
MV-5	MEZ	7,431,000.00			7,431,000.00	2326,~~943~~107.3058	-	2326,~~943~~107.3058	-	-	7,431,000.00
MV-6	MEZ	7,430,000.00			7,430,000.00	3133,~~432~~141.0093	-	3133,~~432~~141.0093	-	-	7,430,000.00
TRUST		-			-	50142,~~684~~130.6027	-	50142,~~684~~130.6027	-	-	-
Total		1,200,000,000.00			1,~~188~~128,~~824~~614,~~143~~040.2979	3,~~312~~624,~~653~~055.9406	1128,~~993~~198,~~462~~729.6112	1531,~~306~~822,~~116~~784.5518	-	-	1,~~176~~100,~~830~~415,~~680~~311.6867
Non-Delay Certificates Record Date: 9/24/04
Non-Delay Certificates Record Date: 12/24/04
	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	0811/2526/04	0912/26/04		A-Act/360	805564PV7	190,000,000.00	~~978~~878.~~032836~~095992	1.~~591341~~769363	1538.~~242047~~376225	1640.~~833388~~145589	~~962~~839.~~790789~~719766
AF-2				F-30/360	805564PW5	68,747,000.00	1,000.000000	3.458333	-	3.458333	1,000.000000
AF-3				F-30/360	805564PX3	87,397,000.00	1,000.000000	4.358333	-	4.358333	1,000.000000
AF-4				F-30/360	805564PY1	11,633,000.00	1,000.000000	4.583334	-	4.583334	1,000.000000
AF-5				F-30/360	805564PZ8	39,753,000.00	1,000.000000	4.158333	-	4.158333	1,000.000000
AV-1	0811/2526/04	0912/26/04		A-Act/360	805564QG9	309,301,000.00	~~992~~931.~~290567~~237933	1.~~741883~~988710	1429.~~914986~~550107	1631.~~656869~~538817	~~977~~901.~~375581~~687826
AV-2	0811/2526/04	0912/26/04		A-Act/360	805564QH7	309,305,000.00	~~985~~912.~~071175~~849707	1.~~720181~~941581	1438.~~497838~~044548	1639.~~218018~~986128	~~970~~874.~~573337~~805159
A-IO				F-30/360	805564QJ3	138,500,000.00	1,000.000000	3.333333	-	3.333333	1,000.000000
MF-1				F-30/360	805564QA2	22,847,000.00	1,000.000000	4.583333	-	4.583333	1,000.000000
MF-2				F-30/360	805564QB0	17,135,000.00	1,000.000000	4.583334	-	4.583334	1,000.000000
MF-3				F-30/360	805564QC8	5,712,000.00	1,000.000000	4.583333	-	4.583333	1,000.000000
MF-4				F-30/360	805564QD6	4,569,000.00	1,000.000000	4.583333	-	4.583333	1,000.000000
MF-5				F-30/360	805564QE4	4,569,000.00	1,000.000000	4.583333	-	4.583333	1,000.000000
MF-6				A-30/360	805564QF1	4,568,000.00	1,000.000000	4.583334	-	4.583334	1,000.000000
MV-1	0811/2526/04	0912/26/04		A-Act/360	805564QK0	48,300,000.00	1,000.000000	2.~~012083~~376667	-	2.~~012083~~376667	1,000.000000
MV-2	0811/2526/04	0912/26/04		A-Act/360	805564QL8	39,011,000.00	1,000.000000	2.~~580417~~910555	-	2.~~580417~~910555	1,000.000000
MV-3	0811/2526/04	0912/26/04		A-Act/360	805564QM6	11,146,000.00	1,000.000000	2.~~644584~~970833	-	2.~~644584~~970833	1,000.000000
MV-4	0811/2526/04	0912/26/04		A-Act/360	805564QN4	11,146,000.00	1,000.000000	3.~~130416~~427222	-	3.~~130416~~427222	1,000.000000
MV-5	0811/2526/04	0912/26/04		A-Act/360	805564QP9	7,431,000.00	1,000.000000	3.~~222083~~513333	-	3.~~222083~~513333	1,000.000000
MV-6	0811/2526/04	0912/26/04		A-Act/360	805564QQ7	7,430,000.00	1,000.000000	4.~~230417~~460556	-	4.~~230417~~460556	1,000.000000
TRUST				-		-	-	-	-	-	-
							Page 2 of 27				© COPYRIGHT 2004 Deutsche Bank
							Page 2 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Series 2004-2
	Certificate Payment Report for September 27, 2004 Distribution
	Certificate Payment Report for December 27, 2004 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	190,000,000.00		~~548~~1,~~774~~494,672.2286		628,~~324~~150,~~117~~535.0818	~~745~~2,~~633~~302,709.0424	730,~~069~~453,~~750~~244.1242	731,~~618~~947,~~524~~917.3428	-	-	~~182~~159,~~930~~546,~~249~~755.8858
AF-2	68,747,000.00		~~475~~1,~~500~~188,750.0820		-	-	-	~~475~~1,~~500~~188,750.0820	-	-	68,747,000.00
AF-3	87,397,000.00		~~761~~1,~~810~~904,526.5230		-	-	-	~~761~~1,~~810~~904,526.5230	-	-	87,397,000.00
AF-4	11,633,000.00		~~106~~266,~~635~~589.8460		-	-	-	~~106~~266,~~635~~589.8460	-	-	11,633,000.00
AF-5	39,753,000.00		~~330~~826,~~612~~531.4615		-	-	-	~~330~~826,~~612~~531.4615	-	-	39,753,000.00
AV-1	309,301,000.00		~~974~~2,~~794~~681,049.7746		629,~~637~~449,~~617~~758.7806	~~360~~958,~~137~~295.55	630,~~997~~408,~~755~~053.3361	733,~~972~~089,~~550~~103.1007	-	-	~~302~~278,~~303~~892,~~244~~946.6739
AV-2	309,305,000.00		~~965~~2,~~602~~637,845.9565		837,~~788~~882,~~979~~714.3367	~~312~~840,~~834~~675.5463	938,~~101~~723,~~813~~390.8730	1041,~~067~~361,~~416~~235.8295	-	-	~~300~~270,~~203~~581,~~186~~609.1370
A-IO	-		~~923~~2,308,333.3435		-	-	-	~~923~~2,308,333.3435	-	-	-
MF-1	22,847,000.00		~~209~~523,~~430~~577.8410		-	-	-	~~209~~523,~~430~~577.8410	-	-	22,847,000.00
MF-2	17,135,000.00		~~157~~392,~~070~~677.8410		-	-	-	~~157~~392,~~070~~677.8410	-	-	17,135,000.00
MF-3	5,712,000.00		52130,~~360~~900.00		-	-	-	52130,~~360~~900.00	-	-	5,712,000.00
MF-4	4,569,000.00		41104,~~882~~706.5025		-	-	-	41104,~~882~~706.5025	-	-	4,569,000.00
MF-5	4,569,000.00		41104,~~882~~706.5025		-	-	-	41104,~~882~~706.5025	-	-	4,569,000.00
MF-6	4,568,000.00		41104,~~873~~683.3435		-	-	-	41104,~~873~~683.3435	-	-	4,568,000.00
MV-1	48,300,000.00		~~176~~489,~~167~~741.5588		-	-	-	~~176~~489,~~167~~741.5588	-	-	48,300,000.00
MV-2	39,011,000.00		~~183~~498,~~942~~349.2826		-	-	-	~~183~~498,~~942~~349.2826	-	-	39,011,000.00
MV-3	11,146,000.00		53145,~~898~~701.6545		-	-	-	53145,~~898~~701.6545	-	-	11,146,000.00
MV-4	11,146,000.00		64170,~~072~~807.4780		-	-	-	64170,~~072~~807.4780	-	-	11,146,000.00
MV-5	7,431,000.00		43117,~~996~~035.6815		-	-	-	43117,~~996~~035.6815	-	-	7,431,000.00
MV-6	7,430,000.00		58151,~~066~~754.4966		-	-	-	58151,~~066~~754.4966	-	-	7,430,000.00
TRUST	-		80434,~~585~~714.6707		-	-	-	80434,~~585~~714.6707	-	-	-
Total	1,200,000,000.00		616,~~292~~677,~~293~~652.9989		2195,~~750~~483,~~714~~007.1990	14,~~418~~101,~~605~~680.1342	2399,~~169~~584,~~319~~688.32	29116,~~461~~262,~~613~~341.3121	-	-	1,~~176~~100,~~830~~415,~~680~~311.6867
	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	12.~~77500~~34000%	~~185~~166,~~826~~838,238.7642			~~302~~336,~~354~~179.7805	-	-	-	~~302~~336,~~354~~179.7805	~~302~~336,~~354~~179.7805	-
AF-2	4.15000%	68,747,000.00			237,750.04	-	-	-	237,750.04	237,750.04	-
AF-3	5.23000%	87,397,000.00			380,905.26	-	-	-	380,905.26	380,905.26	-
AF-4	5.50000%	11,633,000.00			53,317.92	-	-	-	53,317.92	53,317.92	-
AF-5	4.99000%	39,753,000.00			165,306.23	-	-	-	165,306.23	165,306.23	-
AV-1	12.~~91500~~48000%	~~306~~288,~~916~~032,~~464~~823.6990			~~538~~615,~~766~~110.2810	-	-	-	~~538~~615,~~766~~110.2810	~~538~~615,~~766~~110.2810	-
AV-2	12.~~90500~~47000%	~~304~~282,~~687~~348,~~439~~978.8447			~~532~~600,~~060~~540.4459	-	-	-	~~532~~600,~~060~~540.4459	~~532~~600,~~060~~540.4459	-
A-IO	4.00000%	138,500,000.00			461,666.67	-	-	-	461,666.67	461,666.67	-
MF-1	5.50000%	22,847,000.00			104,715.42	-	-	-	104,715.42	104,715.42	-
MF-2	5.50000%	17,135,000.00			78,535.42	-	-	-	78,535.42	78,535.42	-
MF-3	5.50000%	5,712,000.00			26,180.00	-	-	-	26,180.00	26,180.00	-
MF-4	5.50000%	4,569,000.00			20,941.25	-	-	-	20,941.25	20,941.25	-
MF-5	5.50000%	4,569,000.00			20,941.25	-	-	-	20,941.25	20,941.25	-
MF-6	5.50000%	4,568,000.00			20,936.67	-	-	-	20,936.67	20,936.67	-
MV-1	2.~~19500~~76000%	48,300,000.00			97114,~~183~~793.6300	-	-	-	97114,~~183~~793.6300	97114,~~183~~793.6300	-
MV-2	23.~~81500~~38000%	39,011,000.00			~~100~~113,~~664~~543.6368	-	-	-	~~100~~113,~~664~~543.6368	~~100~~113,~~664~~543.6368	-
MV-3	23.~~88500~~45000%	11,146,000.00			2933,~~476~~112.5391	-	-	-	2933,~~476~~112.5391	2933,~~476~~112.5391	-
MV-4	3.~~41500~~98000%	11,146,000.00			3438,~~891~~199.6282	-	-	-	3438,~~891~~199.6282	3438,~~891~~199.6282	-
MV-5	34.~~51500~~08000%	7,431,000.00			2326,~~943~~107.3058	-	-	-	2326,~~943~~107.3058	2326,~~943~~107.3058	-
MV-6	45.~~61500~~18000%	7,430,000.00			3133,~~432~~141.0093	-	-	-	3133,~~432~~141.0093	3133,~~432~~141.0093	-
TRUST		-			50142,~~684~~130.6027	-	-	-	50142,~~684~~130.6027	50142,~~684~~130.6027	-
Total		1,~~327~~267,~~324~~114,~~143~~040.2979			3,~~312~~624,~~653~~055.9406	-	-	-	3,~~312~~624,~~653~~055.9406	3,~~312~~624,~~653~~055.9406	-
See page 27 for Optimal Pass-Through Rate
							Page 3 of 27				© COPYRIGHT 2004 Deutsche Bank
							Page 3 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report for December 27, 2004 Distribution
	Collection Account Report
SUMMARY					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Principal Collections				310,~~686~~742,~~962~~080.0367	38,~~792~~343,~~998~~522.3811	26,~~561~~276,~~805~~456.6424	1025,~~041~~362,~~766~~059.0502
	Principal Withdrawals				0.00	0.00	0.00	0.00
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				310,~~686~~742,~~962~~080.0367	38,~~792~~343,~~998~~522.3811	26,~~561~~276,~~805~~456.6424	1025,~~041~~362,~~766~~059.0502
	Interest Collections				12,~~828~~089,~~910~~393.2094	12,~~865~~066,~~196~~172.4905	12,~~848~~614,~~190~~770.0028	56,~~542~~770,~~296~~336.6927
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	0.00
	Interest Fees				(8891,~~867~~402.1579)	(9398,~~810~~099.3022)	(95120,~~268~~109.7511)	(~~277~~309,~~946~~611.2012)
	TOTAL NET INTEREST				1,~~740~~997,~~043~~991.0515	1,~~771~~968,~~386~~072.1983	12,~~752~~494,~~921~~661.2517	56,~~264~~460,~~350~~725.4915
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS				512,~~427~~740,~~005~~071.0882	510,~~564~~311,~~384~~594.5794	48,~~314~~771,~~726~~117.8941	1531,~~306~~822,~~116~~784.5417
PRINCIPAL - COLLECTIONS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Scheduled Principal				~~155~~174,~~708~~272.2205	~~179~~197,~~494~~061.5270	~~372~~515,~~430~~771.4934	~~707~~887,~~633~~105.2309
	Curtailments				1032,~~670~~755.7209	1518,~~271~~711.4797	3198,~~664~~596.8622	57150,~~607~~063.0528
	Prepayments in Full				310,~~520~~535,~~583~~053.0953	38,~~598~~127,~~232~~748.3944	25,~~157~~662,~~710~~088.2968	924,~~276~~324,~~525~~890.7765
	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				(2238,~~387~~784.1021)	(2337,~~518~~011.7863)	(4081,~~107~~280.2840)	(86157,~~013~~076.1624)
	Advanced Principal				2238,~~387~~784.1021	2337,~~518~~011.7863	4081,~~107~~280.2840	86157,~~013~~076.1624
	Realized Losses				0.00	0.00	0.00	0.00
	TOTAL PRINCIPAL COLLECTED				310,~~686~~742,~~962~~080.0367	38,~~792~~343,~~998~~522.3811	26,~~561~~276,~~805~~456.6424	1025,~~041~~362,~~766~~059.0502
				Page 4 of 27				© COPYRIGHT 2004 Deutsche Bank
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	Collection Account Report
PRINCIPAL - WITHDRAWALS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Prefunded Release Amount				0.00	0.00	0.00	0.00
	TOTAL OTHER ACCOUNTS PRINCIPAL				0.00	0.00	0.00	0.00
INTEREST - COLLECTIONS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Scheduled Interest				1,~~793~~952,~~468~~967.6785	1,~~816~~968,~~436~~698.7811	12,~~839~~547,~~807~~287.6681	56,~~449~~468,~~713~~953.1177
	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)				~~(86~~0.~~44)~~00	~~(1,009~~0.~~50)~~00	~~(1,359~~0.~~13)~~00	~~(2,455~~0.~~07)~~00
	Delinquent Interest				(~~319~~465,~~827~~057.1951)	(~~278~~403,~~768~~328.6309)	(~~216~~431,~~071~~646.7127)	(~~814~~1,~~667~~300,031.5387)
	Realized Losses				0.00	0.00	0.00	0.00
	Compensating Month End Interest				860.4400	~~1,009~~0.5000	~~1,359~~0.1300	~~2,455~~0.0700
	Other Interest Shortfall (Relief Act)				(~~185~~371.5204)	(~~228~~114.6030)	(86273.3757)	(~~500~~758.4991)
	Non Recoverable Advance				0.00	0.00	0.00	0.00
	Interest Advanced				~~306~~445,~~329~~383.4781	~~267~~386,~~304~~876.6564	~~207~~414,~~405~~587.9915	~~781~~1,~~040~~246,847.1160
	Prepayment Penalties				49156,~~124~~470.7783	60114,~~452~~039.2969	1784,~~134~~815.4316	~~126~~355,~~711~~325.4968
	TOTAL INTEREST COLLECTED				12,~~828~~089,~~910~~393.2094	12,~~865~~066,~~196~~172.4905	12,~~848~~614,~~190~~770.0028	56,~~542~~770,~~296~~336.6927
				Page 5 of 27				© COPYRIGHT 2004 Deutsche Bank
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	Collection Account Report
INTEREST - WITHDRAWALS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	TOTAL OTHER ACCOUNT INTEREST				0.00	0.00	0.00	0.00
INTEREST - FEES					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Current Servicing Fees				66,~~492~~881.0208	6870,~~929~~699.1092	7291,~~500~~496.3540	~~207~~229,~~921~~077.4740
	Master Servicing Fee				1314,~~331~~540.6222	1314,~~398~~731.8599	1318,~~527~~198.6836	4047,~~258~~470.1557
	PMI Insurance Premium				9,~~043~~981.5149	1112,~~482~~667.3531	910,~~240~~414.7235	2933,~~766~~063.5815
	TOTAL INTEREST OTHER FEES				8891,~~867~~402.1579	9398,~~810~~099.3022	95120,~~268~~109.7511	~~277~~309,~~946~~611.2012
				Page 6 of 27				© COPYRIGHT 2004 Deutsche Bank
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	Credit Enhancement Report for December 27, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE					GROUP II-B	GROUP II-A	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Extra Principal Distribution Amt				~~797~~1,~~291~~025,288.6810	~~820~~796,~~221~~355.6440	~~334~~1,~~183~~015,026.2460	12,~~951~~836,~~696~~670.5610
	Overcollateralization Amount							413,~~237~~516,~~207~~308.8001
	Overcollateralization Requirement							33,770,790.00
	Overcollateralization Release Amount				0.00	0.00	0.00	0.00
				Page 7 of 27				© COPYRIGHT 2004 Deutsche Bank
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	Collateral Report for December 27, 2004 Distribution
	Collateral Report
COLLATERAL					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Loan Count:
	Original				1398	2081	2382	5861
	Prior				1,~~381~~652	2,~~070~~270	23,~~358~~367	57,~~809~~289
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(1133)	(2445)	(2042)	(55120)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				1,~~370~~619	2,~~046~~225	23,~~338~~325	57,~~754~~169
	Principal Balance:
	Original				323,345,232.09	323,320,982.39	328,419,661.89	975,085,876.37
	Prior				~~319~~348,~~958~~965,~~971~~290.2477	~~321~~353,~~572~~567,~~297~~768.3126	~~324~~436,~~664~~760,~~262~~619.3567	~~966~~1,~~195~~139,~~530~~293,678.9070
	Prefunding				-	-	-	-
	Scheduled Principal				(~~155~~174,~~708~~272.2205)	(~~179~~197,~~494~~061.5270)	(~~372~~515,~~430~~771.4934)	(~~707~~887,~~633~~105.2309)
	Partial and Full Voluntary Prepayments				(310,~~531~~567,~~253~~808.8162)	(38,~~613~~146,~~503~~460.8641)	(25,~~189~~760,~~375~~684.1590)	(924,~~334~~474,~~132~~953.8293)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				~~316~~338,~~272~~223,~~009~~210.2110	~~317~~345,~~779~~224,~~298~~246.9315	~~322~~430,~~102~~484,~~456~~163.7143	~~956~~1,~~153~~113,~~764~~931,619.8568
PREFUNDING					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Prefunding Beginning Balance				~~48,189,992~~0.6300	~~48,213,792~~0.8900	~~128,510,338~~0.1100	~~224,914,123~~0.6300
	Balance of Subsequent Loans Transfered				0.00	0.00	0.00	0.00
	Prefunded Amount Dispursed To Offered Certificates				0.00	0.00	0.00	0.00
	Prefunding Ending Balance				~~48,189,992~~0.6300	~~48,213,792~~0.8900	~~128,510,338~~0.1100	~~224,914,123~~0.6300
	Group I		Group II-B
	Group II-A
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
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	Collateral Report
CHARACTERISTICS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Weighted Average Coupon Original				6.730359%	6.780986%	6.811919%	6.774616%
	Weighted Average Coupon Prior				6.~~730359~~737253%	6.~~780986~~762303%	67.~~811919~~042309%	6.~~774616~~861624%
	Weighted Average Coupon Current				6.~~726370~~715744%	6.~~778333~~681711%	6.~~800161~~998674%	6.~~768460~~813647%
	Weighted Average Months to Maturity Original				353	353	324	343
	Weighted Average Months to Maturity Prior				~~353~~350	~~353~~349	~~324~~315	~~343~~336
	Weighted Average Months to Maturity Current				~~352~~349	~~352~~348	~~323~~314	~~342~~335
	Weighted Avg Remaining Amortization Term Original				353	352	323	343
	Weighted Avg Remaining Amortization Term Prior				~~353~~350	~~352~~348	~~323~~315	~~343~~336
	Weighted Avg Remaining Amortization Term Current				~~352~~349	~~351~~347	~~322~~314	~~342~~335
	Weighted Average Seasoning Original				3.23	3.26	7.86	4.80
	Weighted Average Seasoning Prior				36.2375	36.2658	712.8645	48.8088
	Weighted Average Seasoning Current				47.2179	47.2061	813.6536	59.7089
Note: Original information refers to deal issue.
	Group I		Group II-B
	Group II-A
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
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ARM CHARACTERISTICS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Weighted Average Margin Original				5.000%	4.629%
	Weighted Average Margin Prior				5.000%	4.~~629~~622%
	Weighted Average Margin Current				5.000%	4.~~632~~610%
	Weighted Average Max Rate Original				12.000%	11.950%	6.812%
	Weighted Average Max Rate Prior				12.000%	11.~~950~~978%	67.~~812~~042%
	Weighted Average Max Rate Current				12.000%	11.~~953~~960%	67.~~800~~039%
	Weighted Average Min Rate Original				6.000%	6.112%	6.812%
	Weighted Average Min Rate Prior				6.000%	6.~~112~~122%	67.~~812~~042%
	Weighted Average Min Rate Current				6.000%	6.~~107~~115%	67.~~800~~039%
	Weighted Average Cap Up Original				1.000%	0.875%
	Weighted Average Cap Up Prior				1.000%	0.~~875~~874%
	Weighted Average Cap Up Current				1.000%	0.~~876~~873%
	Weighted Average Cap Down Original				1.000%	0.875%
	Weighted Average Cap Down Prior				1.000%	0.~~875~~874%
	Weighted Average Cap Down Current				1.000%	0.~~876~~873%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Current Servicing Fees				66,~~492~~881.0208	6870,~~929~~699.1092	7291,~~500~~496.3540	~~207~~229,~~921~~077.4740
	Delinquent Servicing Fees				1319,~~497~~673.7270	1116,~~463~~451.9845	817,~~665~~059.7213	3353,~~627~~184.4228
	Master Servicing Fees				1314,~~331~~540.6222	1314,~~398~~731.8599	1318,~~527~~198.6836	4047,~~258~~470.1557
	TOTAL SERVICING FEES				93101,~~321~~095.3600	93101,~~791~~883.9336	94126,~~693~~753.7589	~~281~~329,~~807~~732.0425
	Total Servicing Fees				93101,~~321~~095.3600	93101,~~791~~883.9336	94126,~~693~~753.7589	~~281~~329,~~807~~732.0425
	Compensating Month End Interest				860.4400	~~1,009~~0.5000	~~1,359~~0.1300	~~2,455~~0.0700
	Delinquent Servicing Fees				(1319,~~497~~673.7270)	(1116,~~463~~451.9845)	(817,~~665~~059.7213)	(3353,~~627~~184.4228)
	COLLECTED SERVICING FEES				7981,~~910~~421.0830	8385,~~337~~431.4591	87109,~~387~~694.1676	~~250~~276,~~634~~547.6997
	Prepayment Interest Shortfall				860.4400	~~1,009~~0.5000	~~1,359~~0.1300	~~2,455~~0.0700
	Total Advanced Interest				~~306~~445,~~329~~383.4781	~~267~~386,~~304~~876.6564	~~207~~414,~~405~~587.9915	~~781~~1,~~040~~246,847.1160
ADDITIONAL COLLATERAL INFORMATION					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Weighted Average Net Rate				56.~~511633~~332505%	56.~~552185~~292541%	46.~~596339~~621053%	56.~~175986~~430721%
	Largest Loan Balance				1,100,000.00	471,862.34	~~988~~979,~~841~~487.6101	~~988~~979,~~841~~487.6101
	Next One-Month LIBOR							12.~~840000~~417500%
	Current One-Month LIBOR							12.~~615000~~180000%
				Page 10 of 27				© COPYRIGHT 2004 Deutsche Bank
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	Saxon Asset Securities Trust 2004-2
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	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1926,~~093~~778,~~272~~453.6789	16,~~159~~733,~~205~~512.9832	-1,189,021.00	2034,~~252~~700,~~478~~987.6521
		% Balance			2.0040%	0.1260%	0.0011%	23.12%
		# Loans			~~120~~183	654	-9	~~126~~246
		% # Loans			2.0955%	0.1075%	0.0013%	23.1943%
FORECLOSURE		Balance		-	~~143~~156,~~628~~957.9197	-928,813.62	574,~~631~~481,711.7756	~~201~~5,~~260~~567,483.6815
		% Balance		0.00%	0.0201%	0.0008%	0.0140%	0.0250%
		# Loans		-	12	-12	132	246
		% # Loans		0.00%	0.0203%	0.0017%	0.0245%	0.0364%
BANKRUPTCY		Balance		~~566~~1,~~629~~415,016.0836	~~109~~112,~~217~~651.9914	-399,112.83	-408,125.50	~~675~~2,~~847~~334,905.0783
		% Balance		0.0613%	0.01%	0.0004%	0.0004%	0.0721%
		# Loans		313	2	-3	-4	522
		% # Loans		0.0518%	0.03%	0.0004%	0.0006%	0.0931%
REO		Balance		-	-	-92,419.24	-67,077.95	-159,497.19
		% Balance		0.00%	0.00%	0.0001%	0.0001%	0.0001%
		# Loans		-	-	-1	-1	-2
		% # Loans		0.00%	0.00%	0.0001%	0.0001%	0.0003%
TOTAL		Balance		~~566~~1,~~629~~415,016.0836	1927,~~346~~048,~~119~~063.5700	18,~~159~~153,~~205~~858.9801	576,~~631~~145,936.7701	2142,~~129~~762,~~586~~873.4038
		% Balance		0.0613%	2.0243%	0.1273%	0.0155%	23.2184%
		# Loans		313	~~123~~187	670	146	~~133~~316
		% # Loans		0.0518%	2.1461%	0.1098%	0.0264%	24.3141%
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 27				© COPYRIGHT 2004 Deutsche Bank
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	Saxon Asset Securities Trust 2004-2
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	Delinquency Report - Group I Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			27,~~736~~553,~~084~~417.1751	~~134~~1,~~733~~294,870.2709	-153,681.92	29,~~870~~001,~~817~~969.4452
		% Balance			01.8575%	0.0430%	0.0004%	02.8909%
		# Loans			2765	118	-2	2885
		% # Loans			1.1595%	0.0454%	0.0006%	12.2056%
FORECLOSURE		Balance		-	-46,648.01	-415,807.55	57847,~~631~~122.7717	571,~~631~~309,577.7773
		% Balance		0.00%	0.0001%	0.0010%	0.0220%	0.0230%
		# Loans		-	-1	-5	17	113
		% # Loans		0.00%	0.0003%	0.0015%	0.0421%	0.0439%
BANKRUPTCY		Balance		~~279~~627,~~005~~975.5727	71112,~~443~~651.9414	-180,000.00	-	~~350~~920,~~449~~626.5141
		% Balance		0.0915%	0.0203%	0.0004%	0.00%	0.1121%
		# Loans		16	12	-1	-	29
		% # Loans		0.0418%	0.0406%	0.0003%	0.00%	0.0927%
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		~~279~~627,~~005~~975.5727	27,~~807~~712,~~528~~716.1166	~~134~~1,~~733~~890,677.2764	571,~~631~~000,804.7709	311,~~278~~232,~~898~~173.7266
		% Balance		0.0915%	01.8779%	0.0444%	0.0223%	12.0261%
		# Loans		16	2868	124	19	31107
		% # Loans		0.0418%	12.2005%	0.0472%	0.0427%	13.3322%
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 27				© COPYRIGHT 2004 Deutsche Bank
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	Saxon Asset Securities Trust 2004-2
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	Delinquency Report - Group II-A Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			78,~~674~~409,~~059~~400.9938	~~879~~3,~~098~~152,062.3804	-737,421.28	812,~~553~~298,~~158~~883.3770
		% Balance			2.4144%	0.2891%	0.0021%	23.6956%
		# Loans			5363	421	-5	5789
		% # Loans			2.5983%	0.2094%	0.0022%	24.7900%
FORECLOSURE		Balance		-	~~143~~110,~~628~~309.9196	-265,134.84	-1,932,060.53	~~143~~2,~~628~~307,505.9133
		% Balance		0.00%	0.0503%	0.0008%	0.0056%	0.0567%
		# Loans		-	1	-4	-13	118
		% # Loans		0.00%	0.0504%	0.0018%	0.0058%	0.0581%
BANKRUPTCY		Balance		~~150~~504,~~668~~253.0093	-	-111,392.29	-275,368.81	~~150~~891,~~668~~015.0003
		% Balance		0.0515%	0.00%	0.0003%	0.0008%	0.0526%
		# Loans		14	-	-1	-3	18
		% # Loans		0.0518%	0.00%	0.0004%	0.0013%	0.0536%
REO		Balance		-	-	-	-67,077.95	-67,077.95
		% Balance		0.00%	0.00%	0.00%	0.0002%	0.0002%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0004%	0.0004%
TOTAL		Balance		~~150~~504,~~668~~253.0093	78,~~817~~519,~~688~~710.9034	~~879~~3,~~098~~528,589.3817	-3,011,928.57	815,~~847~~564,~~455~~482.2801
		% Balance		0.0515%	2.4647%	01.2802%	0.0087%	24.7851%
		# Loans		14	5464	426	-22	59116
		% # Loans		0.0518%	2.6488%	01.2017%	0.0099%	25.8821%
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 27				© COPYRIGHT 2004 Deutsche Bank
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	Delinquency Report - Group II-B Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			810,~~683~~815,~~128~~636.5100	~~145~~2,~~374~~286,580.3319	-297,917.80	813,~~828~~400,~~502~~133.8499
		% Balance			23.7520%	0.0568%	0.0009%	23.7996%
		# Loans			4055	115	-2	4172
		% # Loans			23.9240%	0.0793%	0.0012%	24.9945%
FORECLOSURE		Balance		-	-	-247,871.23	-1,702,528.86	-1,950,400.09
		% Balance		0.00%	0.00%	0.0007%	0.0050%	0.0058%
		# Loans		-	-	-3	-12	-15
		% # Loans		0.00%	0.00%	0.0019%	0.0074%	0.0093%
BANKRUPTCY		Balance		~~136~~282,~~955~~787.5116	~~37,774.05~~-	-107,720.54	-132,756.69	~~174~~523,~~729~~264.5639
		% Balance		0.0408%	0.0100%	0.0003%	0.0004%	0.0615%
		# Loans		13	1-	-1	-1	25
		% # Loans		0.0719%	0.0700%	0.0006%	0.0006%	0.1531%
REO		Balance		-	-	-92,419.24	-	-92,419.24
		% Balance		0.00%	0.00%	0.0003%	0.00%	0.0003%
		# Loans		-	-	-1	-	-1
		% # Loans		0.00%	0.00%	0.0006%	0.00%	0.0006%
TOTAL		Balance		~~136~~282,~~955~~787.5116	810,~~720~~815,~~902~~636.5600	~~145~~2,~~374~~734,591.3320	-2,133,203.35	915,~~003~~966,~~232~~217.4071
		% Balance		0.0408%	23.7620%	0.0581%	0.0063%	24.8572%
		# Loans		13	4155	120	-15	4393
		% # Loans		0.0719%	23.9940%	01.0724%	0.0093%	35.1474%
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 27				© COPYRIGHT 2004 Deutsche Bank
				Page 14 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	REO Report for September 27, 2004 Distribution
	REO Report for December 27, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group I; REO Book Value = 000.00
Total Loan Count = 2				Loan Group 1 = Group I; REO Book Value = Not Available
Total Original Principal Balance = 000.00				Loan Group 2 = Group II-A; REO Book Value = 000.00
Total Original Principal Balance = 163,125.00				Loan Group 2 = Group II-A; REO Book Value = Not Available
Total Current Balance = 000.00				Loan Group 3 = Group II-B; REO Book Value = 000.00
Total Current Balance = 159,497.19				Loan Group 3 = Group II-B; REO Book Value = Not Available
REO Book Value = 000.00
REO Book Value = Not Available
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
11739914 2		67,500.00	67,077.95	Jun-01-04	8.990%	MO - 90.00%	360	Dec-19-03
				Page 15 of 27				© COPYRIGHT 2004 Deutsche Bank
11046693 3		95,625.00	92,419.24	Sep-01-04	11.990%	MI - 75.00%	360	Aug-24-98
				Page 15 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 27, 2004 Distribution
	Foreclosure Report for December 27, 2004 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 2				Loan Group 1 = Group I
Total Loan Count = 26				Loan Group 1 = Group I
Total Original Principal Balance = 204,000.00				Loan Group 2 = Group II-A
Total Original Principal Balance = 3,613,755.00				Loan Group 2 = Group II-A
Total Current Balance = 201,260.68				Loan Group 3 = Group II-B
Total Current Balance = 3,588,041.31				Loan Group 3 = Group II-B
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
11019402 1		60,000.00	57,631.77	May-01-04	11.750%	AZ - 80.00%	360	Aug-03-98
11026309 1		152,100.00	143,697.80	Sep-01-04	9.250%	SC - 90.00%	180	Sep-04-98
11739370 2		144,000.00	143,628.91	Jul-01-04	8.250%	MI - 90.00%	360	Apr-26-04
11029975 1		30,750.00	29,476.63	Sep-01-04	10.750%	TN - 75.00%	360	Sep-30-98
				Page 16 of 27				© COPYRIGHT 2004 Deutsche Bank
11698907 1		116,000.00	115,204.52	Jul-01-04	6.875%	TX - 80.00%	360	Mar-19-04
11718233 1		57,200.00	57,015.91	Aug-11-04	9.180%	NY - 76.27%	360	May-06-04
11723912 1		151,900.00	151,023.85	Aug-01-04	7.063%	TX - 79.99%	360	Apr-02-04
11741675 1		213,200.00	212,259.72	Aug-01-04	7.750%	CA - 80.00%	360	May-21-04
11741932 1		135,000.00	134,461.10	Jun-01-04	8.125%	VA - 89.63%	360	May-13-04
11750544 1		108,800.00	108,242.10	Aug-01-04	8.500%	TX - 85.00%	360	Apr-29-04
11031138 2		71,250.00	66,979.21	Sep-01-04	8.375%	NM - 95.00%	360	Sep-17-98
11723104 2		81,900.00	81,900.00	Aug-01-04	11.125%	NY - 78.00%	360	May-20-04
11725382 2		109,040.00	109,040.00	Aug-01-04	5.500%	WA - 80.00%	360	Apr-20-04
11739287 2		226,400.00	224,743.41	Aug-01-04	6.790%	GA - 80.00%	360	Mar-18-04
11749871 2		184,000.00	183,716.29	Aug-01-04	11.750%	CT - 80.00%	360	Jun-25-04
11750537 2		140,000.00	138,940.65	Aug-01-04	6.990%	MD - 80.00%	360	Feb-02-04
11751237 2		188,000.00	188,000.00	Jul-01-04	7.000%	GA - 80.00%	360	Jun-14-04
11760763 2		94,400.00	94,070.85	Jul-01-04	7.875%	AZ - 80.00%	360	Jun-30-04
10012457 3		39,920.00	37,665.00	Jul-01-04	9.750%	OH - 80.00%	360	Dec-12-97
11729013 3		420,000.00	420,000.00	Aug-01-04	7.750%	CA - 68.85%	360	Apr-27-04
11732772 3		98,000.00	98,000.00	Aug-01-04	9.375%	MI - 70.00%	360	May-10-04
11733150 3		104,000.00	104,000.00	Aug-01-04	5.990%	FL - 80.00%	360	May-21-04
11739289 3		98,500.00	97,710.29	Jul-01-04	7.250%	OH - 67.93%	360	Jan-06-04
11740646 3		137,900.00	137,563.89	Aug-01-04	10.500%	WV - 70.00%	360	May-13-04
11744336 3		280,000.00	280,000.00	Jul-01-04	6.375%	CA - 70.00%	360	Jun-16-04
11745461 3		89,095.00	88,799.62	Jul-01-04	8.125%	FL - 91.85%	360	Jun-15-04
11746573 3		132,000.00	132,000.00	Jul-01-04	6.250%	CO - 80.00%	360	Jun-24-04
11747446 3		154,400.00	153,530.47	Jul-01-04	6.375%	VA - 80.00%	360	May-27-04
				Page 16 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Current
	Number of Paid in Full Loans				1133	2445	2042	55120
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				1133	2445	2042	55120
	Paid in Full Balance				310,~~520~~535,~~583~~053.0953	38,~~598~~127,~~232~~748.3944	25,~~157~~662,~~710~~088.2968	924,~~276~~324,~~525~~890.7765
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				1032,~~670~~755.7209	1518,~~271~~711.4797	3198,~~664~~596.8622	57150,~~607~~063.0528
	Total Prepayment Amount				310,~~531~~567,~~253~~808.8162	38,~~613~~146,~~503~~460.8641	25,~~189~~760,~~375~~684.1590	924,~~334~~474,~~132~~953.8293
	Cumulative
	Number of Paid in Full Loans				27118	35149	42184	~~104~~451
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				27118	35149	42184	~~104~~451
	Paid in Full Balance				631,~~291~~563,~~951~~051.5606	525,~~142~~254,~~585~~903.2937	523,~~402~~734,~~724~~692.3788	1680,~~837~~552,~~261~~647.2231
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				~~468~~908,~~436~~433.7824	3897,~~960~~237.6201	~~168~~402,~~847~~778.7760	~~676~~1,~~245~~408,448.1785
	Total Prepayment Amount				632,~~760~~471,~~388~~484.3430	525,~~181~~352,~~545~~140.9138	524,~~571~~137,~~572~~471.1448	1781,~~513~~961,~~506~~096.3916
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 17 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 17 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	SMM				13.1003%	12.1231%	01.6832%	02.9715%
	3 Months Avg SMM				2.41%	1.87%	1.40%	1.86%
	12 Months Avg SMM
	Avg SMM Since Cut-off				1.0587%	01.8145%	01.8518%	01.9048%
	CPR				1230.4787%	1224.6941%	714.8174%	1122.0096%
	3 Months Avg CPR				25.39%	20.31%	15.52%	20.13%
	12 Months Avg CPR
	Avg CPR Since Cut-off				1120.9227%	916.2506%	913.7727%	1016.3234%
	PSA				~~1481~~1981.5448%	~~1511~~1604.7255%	~~451~~551.0773%	~~964~~1161.8000%
	3 Months Avg PSA Approximation				1902.61%	1559.85%	634.19%	1149.22%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				~~1601~~1845.5134%	~~1240~~1487.1142%	~~591~~623.6914%	~~982~~1110.5288%
	Group I		Group II-B
	Group II-A
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 18 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report for December 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	Group I		Group II-B
	Group II-A
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/(0.002*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 27				© COPYRIGHT 2004 Deutsche Bank
				Page 19 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report for December 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 55						Loan Group 1 = Group I
Total Loan Count = 120						Loan Group 1 = Group I
Total Original Principal Balance = 9,458,563.00						Loan Group 2 = Group II-A
Total Original Principal Balance = 24,565,964.00						Loan Group 2 = Group II-A
Total Prepayment Amount = 9,276,525.77						Loan Group 3 = Group II-B
Total Prepayment Amount = 24,324,890.65						Loan Group 3 = Group II-B
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
10012262 1			55,250.00	52,872.29	Sep-17-04	10.875%	FL - 83.71%	Paid Off - 360	Nov-28-97
10011932 1			184,600.00	173,378.94	Dec-01-04	9.375%	UT - 80.00%	Paid Off - 360	Nov-06-97
10012736 1			83,500.00	76,952.65	Sep-01-04	7.875%	OH - 67.33%	Paid Off - 360	Dec-26-97
10012389 1			90,000.00	83,018.72	Dec-01-04	9.250%	OR - 72.00%	Paid Off - 360	Dec-08-97
10013248 1			45,500.00	32,333.23	Sep-10-04	8.500%	OH - 70.00%	Paid Off - 180	Jan-30-98
10013012 1			170,000.00	158,950.29	Dec-01-04	9.625%	DE - 78.35%	Paid Off - 180	Feb-11-98
10208142 1			46,000.00	41,966.69	Aug-26-04	11.875%	NE - 80.00%	Paid Off - 360	Oct-14-97
10013498 1			65,050.00	61,130.18	Dec-01-04	9.375%	TX - 94.96%	Paid Off - 360	Feb-09-98
10208274 1			250,000.00	203,552.63	Sep-15-04	7.750%	NY - 70.00%	Paid Off - 240	Nov-06-97
10208962 1			50,000.00	98.21	Dec-01-04	10.990%	NV - 37.00%	Paid Off - 360	Dec-18-97
10208688 1			29,750.00	27,748.49	Sep-16-04	10.500%	FL - 85.00%	Paid Off - 360	Nov-28-97
10209060 1			37,800.00	35,159.05	Dec-01-04	10.490%	FL - 90.00%	Paid Off - 360	Dec-26-97
10208692 1			80,000.00	57,118.49	Sep-02-04	9.990%	CA - 80.00%	Paid Off - 180	Nov-28-97
11013102 1			56,000.00	38,822.25	Dec-01-04	8.458%	FL - 80.00%	Paid Off - 180	Sep-22-98
10208773 1			223,000.00	212,789.22	Sep-16-04	10.750%	UT - 83.00%	Paid Off - 360	Dec-12-97
11016790 1			113,200.00	106,613.41	Dec-01-04	8.625%	GA - 80.00%	Paid Off - 360	Sep-29-98
11701726 1			155,000.00	154,378.15	Aug-31-04	6.000%	PA - 93.94%	Paid Off - 360	Mar-02-04
11026975 1			121,410.00	113,373.57	Dec-01-04	9.000%	PA - 90.00%	Paid Off - 180	Aug-20-98
11710269 1			463,500.00	461,810.28	Aug-20-04	6.500%	VA - 90.00%	Paid Off - 360	Mar-08-04
11030958 1			41,600.00	35,479.40	Dec-01-04	10.750%	MN - 78.49%	Paid Off - 240	Jul-27-98
11712465 1			81,000.00	80,956.54	Aug-23-04	12.313%	MI - 55.10%	Paid Off - 360	May-19-04
11031531 1			30,000.00	14,701.32	Dec-01-04	9.650%	IN - 61.22%	Paid Off - 120	Jul-20-98
11714722 1			140,000.00	139,411.11	Sep-08-04	5.750%	MD - 78.21%	Paid Off - 360	Mar-22-04
11031890 1			131,750.00	126,655.68	Dec-01-04	10.750%	CA - 85.00%	Paid Off - 180	Sep-04-98
11728067 1			145,000.00	144,736.61	Sep-07-04	6.490%	CT - 69.05%	Paid Off - 360	May-18-04
11039738 1			30,100.00	29,325.33	Dec-01-04	13.000%	AZ - 70.00%	Paid Off - 180	Oct-29-98
11735100 1			52,000.00	51,967.68	Sep-10-04	8.375%	GA - 80.00%	Paid Off - 360	Jun-18-04
11684353 1			212,000.00	210,321.86	Dec-01-04	6.125%	CA - 84.80%	Paid Off - 360	Feb-13-04
11751884 1			140,000.00	139,896.10	Aug-30-04	7.500%	CT - 62.39%	Paid Off - 360	Jun-25-04
11701827 1			85,900.00	84,091.15	Dec-01-04	6.775%	CO - 90.42%	Paid Off - 240	Feb-24-04
21101356 1			54,000.00	37,099.63	Sep-01-04	9.990%	LA - 75.00%	Paid Off - 180	Dec-05-97
11702006 1			85,000.00	83,583.62	Dec-01-04	6.550%	TN - 85.00%	Paid Off - 240	Feb-19-04
25600031 1			50,000.00	46,346.12	Sep-09-04	9.500%	MD - 72.46%	Paid Off - 360	Nov-07-97
11703892 1			196,000.00	194,589.56	Dec-01-04	6.625%	PA - 80.00%	Paid Off - 360	Feb-20-04
27100074 1			115,000.00	109,297.64	Aug-27-04	10.050%	CA - 83.33%	Paid Off - 360	Nov-20-97
11705637 1			384,000.00	383,934.84	Dec-01-04	5.750%	CA - 80.00%	Paid Off - 360	Mar-26-04
34800446 1			38,500.00	36,742.55	Sep-14-04	10.250%	NY - 70.00%	Paid Off - 360	Feb-13-98
11705656 1			343,000.00	337,740.16	Dec-01-04	6.025%	CA - 70.00%	Paid Off - 240	Mar-12-04
40800366 1			53,800.00	49,734.19	Sep-10-04	8.375%	IN - 80.00%	Paid Off - 360	Nov-26-97
11709274 1			50,000.00	49,710.12	Dec-01-04	6.525%	OH - 70.42%	Paid Off - 360	Apr-28-04
10009643 2			63,750.00	61,142.19	Sep-01-04	11.625%	MO - 75.00%	Paid Off - 360	May-30-97
11718844 1			168,000.00	166,919.48	Dec-01-04	6.500%	CA - 74.67%	Paid Off - 360	Mar-26-04
11692876 2			131,750.00	131,162.34	Sep-03-04	6.625%	CA - 85.00%	Paid Off - 360	Feb-13-04
11720529 1			324,000.00	321,196.56	Dec-01-04	5.900%	CA - 81.41%	Paid Off - 360	Apr-26-04
11696253 2			200,000.00	197,985.24	Sep-15-04	7.475%	FL - 58.82%	Paid Off - 360	Mar-19-04
11724927 1			490,000.00	487,494.40	Dec-01-04	6.875%	MA - 62.03%	Paid Off - 360	Apr-06-04
11697806 2			69,000.00	68,291.79	Aug-31-04	6.535%	TX - 65.71%	Paid Off - 240	Feb-23-04
11725263 1			140,000.00	139,230.25	Dec-01-04	6.500%	NC - 80.00%	Paid Off - 360	Apr-26-04
11710346 2			104,000.00	103,656.04	Sep-01-04	7.000%	CA - 50.73%	Paid Off - 360	Mar-08-04
11726389 1			83,500.00	83,133.56	Dec-01-04	7.125%	MD - 48.27%	Paid Off - 360	May-10-04
11714392 2			213,000.00	212,078.83	Sep-01-04	5.750%	NY - 69.84%	Paid Off - 360	Mar-18-04
11730107 1			201,600.00	200,342.00	Dec-01-04	6.150%	VA - 80.00%	Paid Off - 360	Apr-26-04
11716418 2			182,000.00	181,755.91	Sep-15-04	9.990%	WI - 24.27%	Paid Off - 360	Apr-22-04
11733901 1			139,500.00	138,783.56	Dec-01-04	7.690%	MD - 90.00%	Paid Off - 360	Apr-27-04
11735229 2			211,500.00	211,048.93	Sep-10-04	6.500%	MD - 90.00%	Paid Off - 360	May-21-04
11736706 1			90,000.00	89,091.48	Dec-01-04	6.675%	FL - 86.54%	Paid Off - 240	May-04-04
11735332 2			74,500.00	74,499.95	Sep-01-04	8.375%	KY - 100.00%	Paid Off - 360	May-11-04
11736888 1			195,500.00	194,386.32	Dec-01-04	8.960%	VA - 89.68%	Paid Off - 360	Dec-31-03
11738139 2			200,000.00	199,266.96	Sep-02-04	7.625%	CA - 80.00%	Paid Off - 360	Feb-24-04
11739279 1			94,500.00	93,593.13	Dec-01-04	7.125%	CA - 90.00%	Paid Off - 360	Mar-11-04
11738423 2			309,600.00	309,038.72	Sep-01-04	6.500%	CA - 80.00%	Paid Off - 360	May-17-04
11741394 1			93,500.00	92,155.23	Dec-01-04	8.217%	VA - 60.32%	Paid Off - 180	May-18-04
11741255 2			58,500.00	58,464.57	Aug-26-04	8.500%	GA - 90.00%	Paid Off - 360	Jun-25-04
11742250 1			54,795.00	54,547.85	Dec-01-04	6.675%	MI - 65.00%	Paid Off - 360	May-25-04
11742264 2			289,000.00	289,000.00	Sep-15-04	7.500%	CA - 79.83%	Paid Off - 360	May-21-04
11743597 1			75,000.00	74,775.40	Dec-01-04	8.625%	GA - 75.00%	Paid Off - 360	May-25-04
11743560 2			152,500.00	152,389.56	Aug-18-04	10.950%	CT - 70.93%	Paid Off - 360	May-24-04
11746285 1			360,000.00	358,736.32	Dec-01-04	6.700%	CA - 83.78%	Paid Off - 360	Jun-24-04
11744991 2			192,000.00	191,660.26	Sep-17-04	6.625%	MA - 80.00%	Paid Off - 360	May-26-04
11751745 1			121,950.00	121,748.12	Dec-01-04	9.500%	NY - 90.00%	Paid Off - 360	Jul-22-04
11745493 2			260,000.00	259,842.89	Sep-08-04	11.875%	CA - 65.82%	Paid Off - 360	May-20-04
11752526 1			200,000.00	199,559.83	Dec-01-04	8.500%	AK - 80.00%	Paid Off - 360	Jul-19-04
11748440 2			60,000.00	60,000.00	Aug-31-04	7.625%	AZ - 79.92%	Paid Off - 360	Jun-11-04
11760373 1			135,000.00	134,759.15	Dec-01-04	8.625%	GA - 90.00%	Paid Off - 360	Jul-06-04
11749870 2			281,713.00	281,713.00	Sep-07-04	8.990%	NV - 80.00%	Paid Off - 360	Jun-01-04
11763707 1			50,000.00	49,951.91	Dec-01-04	9.625%	AK - 28.57%	Paid Off - 360	Aug-10-04
11751987 2			225,000.00	224,870.55	Sep-16-04	8.750%	AK - 90.00%	Paid Off - 360	Jun-17-04
11767181 1			111,870.00	111,594.60	Dec-01-04	7.025%	AZ - 90.00%	Paid Off - 360	Jul-14-04
11754211 2			106,500.00	106,500.00	Aug-31-04	7.750%	OH - 50.96%	Paid Off - 360	Jun-30-04
11769138 1			59,760.00	59,677.49	Dec-01-04	7.875%	TN - 80.00%	Paid Off - 360	Aug-09-04
26000426 2			70,550.00	67,310.60	Aug-19-04	10.375%	FL - 85.00%	Paid Off - 360	Sep-23-97
11777995 1			130,000.00	129,769.92	Dec-01-04	6.650%	NV - 77.06%	Paid Off - 360	Aug-11-04
40800562 2			78,000.00	75,592.33	Sep-16-04	10.000%	GA - 81.25%	Paid Off - 360	Dec-05-97
11781163 1			40,000.00	39,964.46	Dec-01-04	10.000%	PA - 79.21%	Paid Off - 360	Aug-20-04
40800571 2			67,500.00	63,602.18	Aug-24-04	8.500%	IN - 75.00%	Paid Off - 360	Dec-15-97
11026279 2			27,000.00	25,426.02	Dec-01-04	9.125%	GA - 90.00%	Paid Off - 360	Sep-04-98
90400156 2			24,000.00	17,359.55	Sep-13-04	9.800%	MI - 48.98%	Paid Off - 180	Nov-24-97
11704675 2			106,400.00	105,611.13	Dec-01-04	5.750%	CA - 80.00%	Paid Off - 360	Mar-03-04
					Page 20 of 27				© COPYRIGHT 2004 Deutsche Bank
					Page 20 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report for December 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
10208996 3			59,000.00	56,063.04	Aug-30-04	9.990%	OR - 25.00%	Paid Off - 360	Dec-30-97
11709993 2			155,000.00	153,795.97	Dec-01-04	5.500%	CA - 73.11%	Paid Off - 360	Mar-25-04
11698055 3			600,000.00	596,608.10	Aug-31-04	5.375%	PA - 72.73%	Paid Off - 360	Feb-06-04
11714179 2			165,000.00	163,675.89	Dec-01-04	6.490%	CA - 78.57%	Paid Off - 360	Feb-10-04
11722543 3			580,000.00	579,474.65	Aug-31-04	6.490%	CA - 89.23%	Paid Off - 360	Jun-08-04
11714301 2			315,000.00	314,899.60	Dec-01-04	6.375%	CA - 90.00%	Paid Off - 360	Jun-25-04
11725069 3			369,750.00	369,322.99	Sep-17-04	8.750%	VA - 85.00%	Paid Off - 360	May-28-04
11717788 2			174,400.00	173,076.43	Dec-01-04	5.625%	IL - 80.00%	Paid Off - 360	Mar-29-04
11730251 3			73,600.00	73,489.60	Sep-10-04	7.463%	ME - 80.00%	Paid Off - 360	Apr-27-04
11720043 2			161,500.00	160,993.87	Dec-01-04	9.375%	CA - 85.00%	Paid Off - 360	Apr-15-04
11736303 3			122,400.00	122,226.66	Aug-30-04	7.750%	FL - 85.00%	Paid Off - 360	May-06-04
11723715 2			66,000.00	65,859.21	Dec-01-04	10.250%	WV - 73.33%	Paid Off - 360	May-05-04
11737735 3			545,500.00	544,601.35	Sep-08-04	6.990%	NY - 71.31%	Paid Off - 360	May-06-04
11724507 2			256,000.00	256,000.00	Dec-01-04	5.875%	CA - 80.00%	Paid Off - 360	Apr-13-04
11740012 3			679,000.00	679,000.00	Sep-13-04	8.500%	IL - 70.00%	Paid Off - 360	Jun-04-04
11727117 2			120,000.00	119,451.49	Dec-01-04	6.500%	NY - 80.00%	Paid Off - 360	May-19-04
11749405 3			234,400.00	233,403.98	Aug-30-04	6.875%	CA - 80.00%	Paid Off - 360	Feb-17-04
11728292 2			252,000.00	250,959.15	Dec-01-04	7.020%	CA - 80.00%	Paid Off - 360	May-01-04
11751570 3			213,750.00	213,613.70	Sep-08-04	8.250%	FL - 90.00%	Paid Off - 360	Jun-16-04
11728849 2			207,000.00	207,000.00	Dec-01-04	6.706%	NJ - 75.00%	Paid Off - 360	May-11-04
35500020 3			56,000.00	52,779.02	Sep-01-04	9.300%	PA - 84.85%	Paid Off - 360	Sep-29-97
11731185 2			316,200.00	316,200.00	Dec-01-04	8.000%	MD - 93.00%	Paid Off - 360	May-14-04
					Page 21 of 27				© COPYRIGHT 2004 Deutsche Bank
11732142 2			265,000.00	263,038.13	Dec-01-04	6.250%	NV - 81.54%	Paid Off - 360	Apr-26-04
11733302 2			50,000.00	49,732.94	Dec-01-04	6.650%	IL - 100.00%	Paid Off - 360	Apr-28-04
11734009 2			99,552.00	99,552.00	Dec-01-04	6.875%	AZ - 80.00%	Paid Off - 360	May-14-04
11738626 2			144,000.00	143,309.69	Dec-01-04	6.250%	IL - 80.00%	Paid Off - 360	May-13-04
11738642 2			220,500.00	220,468.26	Dec-01-04	5.750%	MA - 90.00%	Paid Off - 360	Mar-19-04
11739407 2			144,000.00	143,449.62	Dec-01-04	10.375%	MD - 77.01%	Paid Off - 360	May-25-04
11739618 2			272,000.00	271,986.58	Dec-01-04	5.500%	CA - 85.00%	Paid Off - 360	May-24-04
11740167 2			227,000.00	226,188.50	Dec-01-04	7.750%	NV - 79.65%	Paid Off - 360	May-21-04
11740381 2			168,000.00	167,177.87	Dec-01-04	7.100%	MD - 80.00%	Paid Off - 360	Apr-29-04
11741230 2			213,750.00	212,681.20	Dec-01-04	6.990%	CA - 95.00%	Paid Off - 360	Apr-22-04
11741432 2			104,000.00	104,000.00	Dec-01-04	6.375%	VA - 80.00%	Paid Off - 360	Jun-01-04
11743071 2			259,250.00	259,250.00	Dec-01-04	6.175%	MO - 85.00%	Paid Off - 360	May-26-04
11743680 2			232,000.00	231,355.05	Dec-01-04	7.875%	IL - 80.00%	Paid Off - 360	Jun-01-04
11744585 2			124,000.00	124,000.00	Dec-01-04	7.750%	CA - 80.00%	Paid Off - 360	May-25-04
11745365 2			132,000.00	132,000.00	Dec-01-04	6.000%	MD - 80.00%	Paid Off - 360	Jun-04-04
11745664 2			232,000.00	231,899.65	Dec-01-04	6.625%	CA - 89.92%	Paid Off - 360	May-27-04
11745748 2			306,000.00	305,470.47	Dec-01-04	7.000%	CA - 84.53%	Paid Off - 360	Jun-02-04
11746551 2			272,000.00	272,000.00	Dec-01-04	5.875%	GA - 80.00%	Paid Off - 360	May-27-04
11747131 2			198,000.00	198,000.00	Dec-01-04	6.250%	NV - 58.24%	Paid Off - 360	Jun-16-04
11747165 2			149,000.00	149,000.00	Dec-01-04	7.375%	AZ - 100.00%	Paid Off - 360	May-28-04
11747179 2			163,200.00	161,603.02	Dec-01-04	6.225%	NE - 80.00%	Paid Off - 240	Jun-10-04
11747517 2			206,505.00	206,505.05	Dec-01-04	6.000%	WV - 80.00%	Paid Off - 360	May-28-04
11749377 2			156,000.00	155,508.81	Dec-01-04	7.250%	MD - 89.66%	Paid Off - 360	Jun-08-04
11753573 2			174,400.00	173,926.32	Dec-01-04	9.990%	CT - 80.00%	Paid Off - 360	Apr-14-04
11754378 2			85,000.00	84,713.30	Dec-01-04	6.900%	NV - 85.00%	Paid Off - 360	Jun-22-04
11754633 2			117,000.00	116,676.38	Dec-01-04	7.900%	CA - 79.05%	Paid Off - 360	Jun-24-04
11755249 2			165,750.00	163,715.65	Dec-01-04	7.425%	IL - 75.00%	Paid Off - 180	Jun-25-04
11756958 2			157,250.00	157,250.00	Dec-01-04	8.875%	CA - 85.00%	Paid Off - 360	Jun-24-04
11762266 2			314,500.00	314,500.00	Dec-01-04	6.500%	MD - 85.00%	Paid Off - 360	Jul-06-04
11763171 2			235,800.00	235,284.74	Dec-01-04	7.625%	MD - 90.00%	Paid Off - 360	Jul-15-04
11764647 2			237,400.00	236,599.82	Dec-01-04	6.125%	MD - 75.37%	Paid Off - 360	Jul-16-04
34800401 2			30,000.00	3,956.63	Dec-01-04	11.750%	FL - 47.61%	Paid Off - 180	Feb-02-98
11696953 3			364,000.00	363,890.80	Dec-01-04	6.000%	CA - 80.00%	Paid Off - 360	Jan-26-04
11706800 3			191,250.00	189,663.07	Dec-01-04	5.875%	MD - 85.00%	Paid Off - 360	Feb-24-04
11706963 3			376,000.00	372,566.51	Dec-01-04	5.563%	NY - 78.33%	Paid Off - 360	Mar-05-04
11707462 3			710,000.00	710,000.00	Dec-01-04	5.350%	FL - 62.39%	Paid Off - 360	Mar-08-04
11718450 3			183,000.00	183,000.00	Dec-01-04	6.125%	VA - 83.94%	Paid Off - 360	Mar-29-04
11719098 3			177,000.00	176,015.54	Dec-01-04	6.440%	MD - 50.07%	Paid Off - 360	Apr-02-04
11720211 3			345,750.00	343,453.16	Dec-01-04	5.500%	CA - 75.00%	Paid Off - 360	Apr-12-04
11724773 3			146,250.00	145,856.36	Dec-01-04	10.000%	KS - 65.00%	Paid Off - 360	May-07-04
11726138 3			174,000.00	173,718.05	Dec-01-04	12.375%	AK - 60.00%	Paid Off - 360	Apr-28-04
					Page 21 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Prepayment Detail Report for December 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
11727602 3			161,500.00	161,500.00	Dec-01-04	5.999%	MD - 94.44%	Paid Off - 360	Apr-30-04
11728163 3			595,000.00	592,651.00	Dec-01-04	7.250%	CA - 74.38%	Paid Off - 360	Apr-30-04
11730503 3			588,000.00	586,281.39	Dec-01-04	7.625%	CO - 69.18%	Paid Off - 360	Jun-25-04
11730864 3			408,000.00	408,000.00	Dec-01-04	7.000%	VA - 80.00%	Paid Off - 360	May-11-04
11732336 3			340,000.00	337,894.49	Dec-01-04	5.875%	MD - 80.00%	Paid Off - 360	Apr-29-04
11732850 3			296,000.00	296,000.00	Dec-01-04	6.875%	MD - 80.00%	Paid Off - 360	Jun-18-04
11735919 3			357,000.00	357,000.00	Dec-01-04	6.375%	CA - 85.00%	Paid Off - 360	Apr-29-04
11739923 3			500,000.00	500,000.00	Dec-01-04	5.350%	CA - 75.76%	Paid Off - 360	Feb-06-04
11740825 3			344,000.00	344,000.00	Dec-01-04	5.750%	CA - 80.00%	Paid Off - 360	May-14-04
11741096 3			448,200.00	448,198.50	Dec-01-04	6.050%	MD - 90.00%	Paid Off - 360	May-24-04
11741253 3			365,000.00	365,000.00	Dec-01-04	6.750%	CA - 84.88%	Paid Off - 360	May-11-04
11742625 3			95,000.00	94,999.98	Dec-01-04	7.017%	PA - 76.00%	Paid Off - 360	Jun-04-04
11747931 3			413,000.00	413,000.00	Dec-01-04	7.125%	VA - 100.00%	Paid Off - 360	Jun-15-04
11748327 3			352,125.00	352,025.00	Dec-01-04	7.075%	MD - 75.00%	Paid Off - 360	Jun-18-04
11748473 3			468,000.00	468,000.00	Dec-01-04	7.125%	CA - 74.88%	Paid Off - 360	Jul-01-04
11748596 3			328,000.00	328,000.00	Dec-01-04	6.250%	CA - 80.00%	Paid Off - 360	Jun-08-04
11748735 3			90,000.00	89,749.82	Dec-01-04	7.875%	MO - 75.00%	Paid Off - 360	Jun-24-04
11749542 3			410,644.00	410,643.98	Dec-01-04	6.875%	VA - 80.00%	Paid Off - 360	Jun-11-04
11750329 3			112,000.00	111,858.68	Dec-01-04	11.625%	CT - 70.00%	Paid Off - 360	Jun-16-04
11752918 3			620,000.00	620,000.00	Dec-01-04	12.000%	CT - 62.00%	Paid Off - 360	Jun-24-04
11753567 3			116,000.00	114,579.83	Dec-01-04	6.750%	CA - 80.00%	Paid Off - 360	Apr-14-04
11753660 3			180,000.00	179,311.49	Dec-01-04	6.250%	CA - 67.92%	Paid Off - 360	Jun-16-04
11753747 3			216,500.00	215,766.17	Dec-01-04	6.875%	MD - 88.37%	Paid Off - 360	Jun-14-04
11776291 3			82,503.00	82,429.71	Dec-01-04	10.000%	VA - 92.70%	Paid Off - 360	Aug-13-04
					Page 22 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					GROUP II-B	GROUP II-A	GROUP I	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
	Group I		Group II-B				3 Months Moving Average
	Group II-A
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 22 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 23 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR				0.00%	0.00%	0.00%	0.00%
	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				0.00%	0.00%	0.00%	0.00%
	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				0.00%	0.00%	0.00%	0.00%
	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
	Group I		Group II-B
	Group II-A
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 23 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 24 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report for December 27, 2004 Distribution
	Realized Loss Report - Collateral
	Group I		Group II-B
	Group II-A
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 24 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 25 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for September 27, 2004 Distribution
	Realized Loss Detail Report for December 27, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group I
Total Prior Principal Balance = 0.00						Loan Group 2 = Group II-A
Total Current Realized Loss Amount = 0.00						Loan Group 3 = Group II-B
Total Revisions Amount = 0.00
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			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
					Page 25 of 27				© COPYRIGHT 2004 Deutsche Bank
					Page 26 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Trigger Event Occuring				No	No	No	No
	Balance of Loans 60+ Delinquent				~~145~~4,~~374~~867,794.3355	~~879~~6,~~098~~540,517.3874	~~192~~2,~~365~~891,481.0473	114,~~216~~299,~~837~~794.7502
ADJUSTABLE RATE CERTIFICATE INFORMATION					GROUP II-B	GROUP II-A	GROUP I	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION					GROUP II-B	GROUP II-A	GROUP I	TOTAL
	Group I Available Funds Rate							46.~~600586~~666729%
	Group I Available Funds Rate (AF-1 only)							46.~~182351~~451673%
	Group II Available Funds Rate							45.~~357580~~404770%
	*Not Applicable for first two Payment Dates
				Page 26 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 27 of 28				© COPYRIGHT 2004 Deutsche Bank
	Saxon Asset Securities Trust 2004-2
	Mortgage Pass-Through Certificates
	Additional Certificate Report for September 27, 2004 Distribution
	Additional Certificate Report for December 27, 2004 Distribution
	Additional Certificate Report
	CLASS						Available Funds Shortfall	Optimal Pass-Through Rate
	AF-1						0.00	12.~~775000~~340000%
	AF-2						0.00	4.150000%
	AF-3						0.00	5.230000%
	AF-4						0.00	5.500000%
	AF-5						0.00	4.990000%
	AV-1						0.00	12.~~915000~~480000%
	AV-2						0.00	12.~~905000~~470000%
	A-IO						0.00	4.000000%
	MF-1						0.00	5.500000%
	MF-2						0.00	5.500000%
	MF-3						0.00	5.500000%
	MF-4						0.00	5.500000%
	MF-5						0.00	5.500000%
	MF-6						0.00	5.500000%
	MV-1						0.00	2.~~195000~~760000%
	MV-2						0.00	23.~~815000~~380000%
	MV-3						0.00	23.~~885000~~450000%
	MV-4						0.00	3.~~415000~~980000%
	MV-5						0.00	34.~~515000~~080000%
	MV-6						0.00	45.~~615000~~180000%
				Page 27 of 27				© COPYRIGHT 2004 Deutsche Bank
				Page 28 of 28				© COPYRIGHT 2004 Deutsche Bank

Filing Compare · Saxon Asset Securities Trust 2004-2