

                           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):  July 25, 2003


                             SAXON ASSET SECURITIES COMPANY,
              (as Depositor, Saxon Mortgage Inc., as Master Servicer,
              and Deutsche Bank National Trust Company, as Trustee).


                SAXON ASSET SECURITIES CO MORT LOAN ASSET BK CER 2003-1
                  (Exact name of Registrant as specified in its Charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-67170-05                           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
     July 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 March 1,2003..

          Date:  Aug 01, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of July 25, 2003.


	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates


	July 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				22
			12.	Realized Loss Detail Report				25
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				26
			14.	Additional Certificate Report				27



				Total Number of Pages				27



			CONTACTS

				Administrator: Barbara Rowe
				Direct Phone Number: (714)247-6284
				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: March 1, 2003
	Certificate Insurer(s):							Closing Date: March 6, 2003
								First Payment Date: April 25, 2003
	Servicer(s):		Saxon Mortgage Services, Inc. Master Servicer


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




						Page 1 of 27					© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates
	REMIC V Series 2003-1
	Certificate Payment Report for July 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	84,500,000.00			76,701,977.99	72,526.36	2,571,458.33	2,643,984.69	-	-	74,130,519.66
AF-2	AFC	30,750,000.00			30,750,000.00	61,226.08	-	61,226.08	-	-	30,750,000.00
AF-3	AFC	37,750,000.00			37,750,000.00	91,831.82	-	91,831.82	-	-	37,750,000.00
AF-4	AFC	22,200,000.00			22,200,000.00	73,238.86	-	73,238.86	-	-	22,200,000.00
AF-5	STEP	28,714,000.00			28,714,000.00	118,530.68	-	118,530.68	-	-	28,714,000.00
AF-6	STEP	17,000,000.00			17,000,000.00	60,828.27	-	60,828.27	-	-	17,000,000.00
AF-7	STEP	50,000,000.00			48,235,054.83	142,011.25	582,004.38	724,015.63	-	-	47,653,050.45
AV-1	FLT	181,418,000.00			172,563,128.34	193,414.51	4,997,237.83	5,190,652.34	-	-	167,565,890.51
AV-2	FLT	181,418,000.00			167,982,111.62	189,679.80	5,324,695.45	5,514,375.25	-	-	162,657,416.17
AF-IO	IO	-			-	342,068.76	-	342,068.76	-	-	-
AV-IO	IO	-			-	458,886.25	-	458,886.25	-	-	-
S	IO	-			-	102,916.11	-	102,916.11	-	-	-
M-1	MEZ	45,000,000.00			45,000,000.00	65,043.73	-	65,043.73	-	-	45,000,000.00
M-2	MEZ	39,375,000.00			39,375,000.00	89,716.29	-	89,716.29	-	-	39,375,000.00
M-3	MEZ	11,250,000.00			11,250,000.00	33,131.07	-	33,131.07	-	-	11,250,000.00
BF	SUB	15,625,000.00			15,625,000.00	78,102.46	-	78,102.46	-	-	15,625,000.00
BV	SUB	5,000,000.00			5,000,000.00	18,890.38	-	18,890.38	-	-	5,000,000.00
C	SUB	-			-	-	-	-	-	-	-
P	SUB	-			-	80,330.80	-	80,330.80	-	-	-
R	R	-			-	-	-	-	-	-	-


Total		750,000,000.00			718,146,272.78	2,272,373.48	13,475,395.99	15,747,769.47	-	-	704,670,876.79
Non-Delay Certificates Record Date: 7/24/03

	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	06/25/03	07/24/03		A-Act/360	805564MP3	84,500,000.00	907.715716	0.858300	30.431460	31.289760	877.284256
AF-2				F-30/360	805564MQ1	30,750,000.00	1,000.000000	1.991092	-	1.991092	1,000.000000
AF-3				F-30/360	805564MR9	37,750,000.00	1,000.000000	2.432631	-	2.432631	1,000.000000
AF-4				F-30/360	805564MS7	22,200,000.00	1,000.000000	3.299048	-	3.299048	1,000.000000
AF-5				F-30/360	805564MT5	28,714,000.00	1,000.000000	4.127975	-	4.127975	1,000.000000
AF-6				F-30/360	805564MU2	17,000,000.00	1,000.000000	3.578134	-	3.578134	1,000.000000
AF-7				F-30/360	805564MV0	50,000,000.00	964.701097	2.840225	11.640088	14.480313	953.061009
AV-1	06/25/03	07/24/03		A-Act/360	805564MW8	181,418,000.00	951.190777	1.066126	27.545436	28.611562	923.645341
AV-2	06/25/03	07/24/03		A-Act/360	805564MX6	181,418,000.00	925.939607	1.045540	29.350425	30.395965	896.589182
AF-IO				F-30/360	805564MY4	99,770,000.00	991.680866	3.428573	-	3.428573	987.170492
AV-IO				F-30/360	805564MZ1	133,610,000.00	993.114288	3.434520	-	3.434520	988.997830
S	06/25/03	07/24/03		A-Act/360	805564NA5	424,200,251.00	962.428175	0.242612	-	0.242612	942.583917
M-1	06/25/03	07/24/03		A-Act/360	805564NB3	45,000,000.00	1,000.000000	1.445416	-	1.445416	1,000.000000
M-2	06/25/03	07/24/03		A-Act/360	805564NC1	39,375,000.00	1,000.000000	2.278509	-	2.278509	1,000.000000
M-3	06/25/03	07/24/03		A-Act/360	805564ND9	11,250,000.00	1,000.000000	2.944984	-	2.944984	1,000.000000
BF				F-30/360	805564NE7	15,625,000.00	1,000.000000	4.998557	-	4.998557	1,000.000000
BV	06/25/03	07/24/03		A-Act/360	805564NF4	5,000,000.00	1,000.000000	3.778076	-	3.778076	1,000.000000
C				A-30/360		750,000,000.00	965.420115	-	-	-	950.763186
P				-		-	-	-	-	-	-
R				-		-	-	-	-	-	-


							Page 2 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates
	REMIC V Series 2003-1
	Certificate Payment Report for July 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	84,500,000.00		433,859.63		9,050,480.64	1,318,999.70	10,369,480.34	10,803,339.97	-	-	74,130,519.66
AF-2	30,750,000.00		244,903.04		-	-	-	244,903.04	-	-	30,750,000.00
AF-3	37,750,000.00		367,325.38		-	-	-	367,325.38	-	-	37,750,000.00
AF-4	22,200,000.00		292,953.91		-	-	-	292,953.91	-	-	22,200,000.00
AF-5	28,714,000.00		474,123.91		-	-	-	474,123.91	-	-	28,714,000.00
AF-6	17,000,000.00		243,311.82		-	-	-	243,311.82	-	-	17,000,000.00
AF-7	50,000,000.00		578,067.35		2,346,949.57	-	2,346,949.55	2,925,016.90	-	-	47,653,050.45
AV-1	181,418,000.00		1,098,213.99		13,308,233.89	543,875.60	13,852,109.49	14,950,323.48	-	-	167,565,890.51
AV-2	181,418,000.00		1,095,129.41		18,205,758.35	554,825.48	18,760,583.83	19,855,713.24	-	-	162,657,416.17
AF-IO	-		1,374,594.92		-	-	-	1,374,594.92	-	-	-
AV-IO	-		1,842,565.42		-	-	-	1,842,565.42	-	-	-
S	-		118,644.89		-	-	-	118,644.89	-	-	-
M-1	45,000,000.00		345,981.01		-	-	-	345,981.01	-	-	45,000,000.00
M-2	39,375,000.00		456,910.30		-	-	-	456,910.30	-	-	39,375,000.00
M-3	11,250,000.00		165,788.80		-	-	-	165,788.80	-	-	11,250,000.00
BF	15,625,000.00		312,412.16		-	-	-	312,412.16	-	-	15,625,000.00
BV	5,000,000.00		93,263.35		-	-	-	93,263.35	-	-	5,000,000.00
C	-		-		-	-	-	-	-	-	-
P	-		211,435.30		-	-	-	211,435.30	-	-	-
R	-		-		-	-	-	-	-	-	-


Total	750,000,000.00		9,749,484.59		42,911,422.45	2,417,700.78	45,329,123.21	55,078,607.80	-	-	704,670,876.79


	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	1.13500%	76,701,977.99			72,526.36	-	-	-	72,526.36	72,526.36	-
AF-2	2.39000%	30,750,000.00			61,226.08	-	-	-	61,226.08	61,226.08	-
AF-3	2.92000%	37,750,000.00			91,831.82	-	-	-	91,831.82	91,831.82	-
AF-4	3.96000%	22,200,000.00			73,238.86	-	-	-	73,238.86	73,238.86	-
AF-5	4.95500%	28,714,000.00			118,530.68	-	-	-	118,530.68	118,530.68	-
AF-6	4.29500%	17,000,000.00			60,828.27	-	-	-	60,828.27	60,828.27	-
AF-7	3.53400%	48,235,054.83			142,011.25	-	-	-	142,011.25	142,011.25	-
AV-1	1.34500%	172,563,128.34			193,414.51	-	-	-	193,414.51	193,414.51	-
AV-2	1.35500%	167,982,111.62			189,679.80	-	-	-	189,679.80	189,679.80	-
AF-IO	4.15000%	98,940,000.00			342,068.76	-	-	-	342,068.76	342,068.76	-
AV-IO	4.15000%	132,690,000.00			458,886.25	-	-	-	458,886.25	458,886.25	-
S	0.30250%	408,262,273.61			102,916.11	-	-	-	102,916.11	102,916.11	-
M-1	1.73500%	45,000,000.00			65,043.73	-	-	-	65,043.73	65,043.73	-
M-2	2.73500%	39,375,000.00			89,716.29	-	-	-	89,716.29	89,716.29	-
M-3	3.53500%	11,250,000.00			33,131.07	-	-	-	33,131.07	33,131.07	-
BF	6.00000%	15,625,000.00			78,102.46	-	-	-	78,102.46	78,102.46	-
BV	4.53500%	5,000,000.00			18,890.38	-	-	-	18,890.38	18,890.38	-
C	4.11460%	724,065,086.33			-	-	5,918,813.56	-	-	-	8,401,513.00
P		-			80,330.80	-	-	-	80,330.80	80,330.80	-
R		-			-	-	-	-	-	-	-


Total		2,082,103,632.72			2,272,373.47	-	5,918,813.56	-	2,272,373.47	2,272,373.48	8,401,513.00
See page 26 for Optimal Pass-Through Rate

							Page 3 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collection Account Report for July 25, 2003 Distribution


	Collection Account Report


SUMMARY					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Principal Collections				4,343,676.54	4,076,549.52	2,572,470.50	10,992,696.56
	Principal Withdrawals				0.00	0.00	0.00	0.00
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				4,343,676.54	4,076,549.52	2,572,470.50	10,992,696.56

	Interest Collections				1,433,464.32	1,484,440.59	2,011,831.05	4,929,735.96
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	0.00
	Interest Fees				(46,199.32)	(47,598.40)	(80,865.33)	(174,663.05)
	TOTAL NET INTEREST				1,387,265.00	1,436,842.19	1,930,965.72	4,755,072.91

	TOTAL AVAILABLE FUNDS TO BONDHOLDERS				5,730,941.54	5,513,391.71	4,503,436.22	15,747,769.47


PRINCIPAL - COLLECTIONS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Scheduled Principal				143,034.83	141,232.46	348,568.18	632,835.47
	Curtailments				4,289.30	7,201.79	25,016.85	36,507.94
	Prepayments in Full				4,196,352.41	3,928,115.27	2,198,885.47	10,323,353.15
	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				(34,987.81)	(32,203.55)	(38,619.51)	(105,810.87)
	Advanced Principal				34,987.81	32,203.55	38,619.51	105,810.87
	Realized Losses				0.00	0.00	0.00	0.00


	TOTAL PRINCIPAL COLLECTED				4,343,676.54	4,076,549.52	2,572,470.50	10,992,696.56


				Page 4 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collection Account Report for July 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				0.00	0.00	0.00	0.00

	TOTAL OTHER ACCOUNTS PRINCIPAL				0.00	0.00	0.00	0.00


INTEREST - COLLECTIONS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Scheduled Interest				1,362,266.55	1,417,338.63	1,986,186.35	4,765,791.53
	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)				(785.91)	(1,771.64)	(1,028.05)	(3,585.60)
	Delinquent Interest				(371,525.25)	(376,259.02)	(285,675.39)	(1,033,459.66)
	Realized Losses				0.00	0.00	0.00	0.00
	Compensating Month End Interest				785.91	1,771.64	1,028.05	3,585.60
	Other Interest Shortfall (Relief Act)				0.00	0.00	(359.98)	(359.98)
	Non Recoverable Advance				0.00	0.00	0.00	0.00
	Interest Advanced				358,252.57	363,347.13	275,337.36	996,937.06
	Prepayment Penalties				84,470.45	80,013.85	36,342.71	200,827.01

	TOTAL INTEREST COLLECTED				1,433,464.32	1,484,440.59	2,011,831.05	4,929,735.96


				Page 5 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collection Account Report for July 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				37,703.32	38,954.07	67,836.28	144,493.67
	Master Servicing Fee				8,496.00	8,644.33	13,029.05	30,169.38


	TOTAL INTEREST OTHER FEES				46,199.32	47,598.40	80,865.33	174,663.05


				Page 6 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Credit Enhancement Report for July 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				981,018.91	920,688.31	580,992.21	2,482,699.43
	Overcollateralization Amount							8,401,512.98
	Overcollateralization Requirement							20,250,000.00
	Overcollateralization Release Amount				0.00	0.00	0.00	0.00


				Page 7 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


COLLATERAL					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL
	Loan Count:
	*Original*				810	1268	1772	3850
	Prior				979	1,503	2,291	4,773
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(18)	(26)	(21)	(65)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				961	1,477	2,270	4,708

	*Principal Balance:*
	Original				176,407,451.27	176,407,449.58	249,395,711.23	602,210,612.08
	Prior				203,903,993.54	207,463,825.94	312,697,266.85	724,065,086.33
	Prefunding				-	-	-	-
	Scheduled Principal				(143,034.83)	(141,232.46)	(348,568.18)	(632,835.47)
	Partial and Full Voluntary Prepayments				(4,200,641.71)	(3,935,317.06)	(2,223,902.32)	(10,359,861.09)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				199,560,317.00	203,387,276.42	310,124,796.35	713,072,389.77

PREFUNDING					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Prefunding Beginning Balance				0.00	0.00	0.00	0.00
	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				0.00	0.00	0.00	0.00


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


				Page 8 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


CHARACTERISTICS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Coupon Original				8.030156%	8.234141%	7.581514%	7.904112%
	Weighted Average Coupon Prior				8.016111%	8.199140%	7.624194%	7.900315%
	Weighted Average Coupon Current				8.017106%	8.198086%	7.622144%	7.898392%
	Weighted Average Months to Maturity Original				357	357	308	337
	Weighted Average Months to Maturity Prior				355	355	308	335
	Weighted Average Months to Maturity Current				354	354	307	334
	Weighted Avg Remaining Amortization Term Original				357	356	325	344
	Weighted Avg Remaining Amortization Term Prior				355	355	324	342
	Weighted Avg Remaining Amortization Term Current				354	354	323	341
	Weighted Average Seasoning Original				3.43	3.69	3.16	3.39
	Weighted Average Seasoning Prior				5.01	5.16	4.61	4.88
	Weighted Average Seasoning Current				5.98	6.14	5.60	5.86

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 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Collateral Report for July 25, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Margin Original				6.000%	5.790%
	Weighted Average Margin Prior				6.000%	5.728%
	Weighted Average Margin Current				6.000%	5.725%
	Weighted Average Max Rate Original				15.000%	14.820%
	Weighted Average Max Rate Prior				15.000%	14.757%	7.624%
	Weighted Average Max Rate Current				15.000%	14.754%	7.622%
	Weighted Average Min Rate Original				7.000%	7.440%
	Weighted Average Min Rate Prior				7.000%	7.369%	7.624%
	Weighted Average Min Rate Current				7.000%	7.370%	7.622%
	Weighted Average Cap Up Original				1.000%	1.028%
	Weighted Average Cap Up Prior				1.000%	1.026%
	Weighted Average Cap Up Current				1.000%	1.025%
	Weighted Average Cap Down Original				1.000%	1.028%
	Weighted Average Cap Down Prior				1.000%	1.026%
	Weighted Average Cap Down Current				1.000%	1.025%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Current Servicing Fees				37,703.32	38,954.07	67,836.28	144,493.67
	Delinquent Servicing Fees				13,272.68	12,911.88	10,338.04	36,522.60
	Master Servicing Fees				8,496.00	8,644.33	13,029.05	30,169.38

	TOTAL SERVICING FEES				59,472.00	60,510.28	91,203.37	211,185.65

	Total Servicing Fees				59,472.00	60,510.28	91,203.37	211,185.65
	Compensating Month End Interest				785.91	1,771.64	1,028.05	3,585.60
	Delinquent Servicing Fees				(13,272.68)	(12,911.88)	(10,338.04)	(36,522.60)

	COLLECTED SERVICING FEES				46,985.23	49,370.04	81,893.38	178,248.65

	Prepayment Interest Shortfall				785.91	1,771.64	1,028.05	3,585.60

	Total Advanced Interest				358,252.57	363,347.13	275,337.36	996,937.06


ADDITIONAL COLLATERAL INFORMATION					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Weighted Average Net Rate				7.667106%	7.848086%	7.270763%	7.547795%
	Largest Loan Balance				1,575,020.70	394,373.62	1,121,919.38	1,121,919.38

	Next One-Month LIBOR							1.100000%
	Current One-Month LIBOR							1.035000%


				Page 10 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			20,475,356.86	5,924,452.46	1,292,798.49	27,692,607.81
		% Balance			2.87%	0.83%	0.18%	3.88%
		# Loans			138	33	10	181
		% # Loans			2.93%	0.70%	0.21%	3.84%
FORECLOSURE		Balance		219,866.05	-	304,970.08	4,718,174.71	5,243,010.84
		% Balance		0.03%	0.00%	0.04%	0.66%	0.74%
		# Loans		1	-	3	23	27
		% # Loans		0.02%	0.00%	0.06%	0.49%	0.57%
BANKRUPTCY		Balance		1,746,367.31	109,678.92	391,546.28	-	2,247,592.51
		% Balance		0.24%	0.02%	0.05%	0.00%	0.32%
		# Loans		11	1	2	-	14
		% # Loans		0.23%	0.02%	0.04%	0.00%	0.30%
REO		Balance		-	-	-	707,738.56	707,738.56
		% Balance		0.00%	0.00%	0.00%	0.10%	0.10%
		# Loans		-	-	-	3	3
		% # Loans		0.00%	0.00%	0.00%	0.06%	0.06%

TOTAL		Balance		1,966,233.36	20,585,035.78	6,620,968.82	6,718,711.76	35,890,949.72
		% Balance		0.28%	2.89%	0.93%	0.94%	5.03%
		# Loans		12	139	38	36	225
		% # Loans		0.25%	2.95%	0.81%	0.76%	4.78%
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 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Fixed Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,795,420.86	639,173.44	254,944.81	6,689,539.11
		% Balance			1.87%	0.21%	0.08%	2.16%
		# Loans			40	7	3	50
		% # Loans			1.76%	0.31%	0.13%	2.20%
FORECLOSURE		Balance		-	-	50,675.77	411,205.28	461,881.05
		% Balance		0.00%	0.00%	0.02%	0.13%	0.15%
		# Loans		-	-	1	5	6
		% # Loans		0.00%	0.00%	0.04%	0.22%	0.26%
BANKRUPTCY		Balance		384,895.96	-	-	-	384,895.96
		% Balance		0.12%	0.00%	0.00%	0.00%	0.12%
		# Loans		3	-	-	-	3
		% # Loans		0.13%	0.00%	0.00%	0.00%	0.13%
REO		Balance		-	-	-	52,863.82	52,863.82
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.04%	0.04%

TOTAL		Balance		384,895.96	5,795,420.86	689,849.21	719,013.91	7,589,179.94
		% Balance		0.12%	1.87%	0.22%	0.23%	2.45%
		# Loans		3	40	8	9	60
		% # Loans		0.13%	1.76%	0.35%	0.40%	2.64%
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 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Adjustable Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			8,927,158.77	2,171,378.12	752,852.95	11,851,389.84
		% Balance			4.39%	1.07%	0.37%	5.83%
		# Loans			69	17	5	91
		% # Loans			4.67%	1.15%	0.34%	6.16%
FORECLOSURE		Balance		219,866.05	-	254,294.31	1,267,134.83	1,741,295.19
		% Balance		0.11%	0.00%	0.13%	0.62%	0.86%
		# Loans		1	-	2	10	13
		% # Loans		0.07%	0.00%	0.14%	0.68%	0.88%
BANKRUPTCY		Balance		853,063.45	109,678.92	-	-	962,742.37
		% Balance		0.42%	0.05%	0.00%	0.00%	0.47%
		# Loans		6	1	-	-	7
		% # Loans		0.41%	0.07%	0.00%	0.00%	0.47%
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		1,072,929.50	9,036,837.69	2,425,672.43	2,019,987.78	14,555,427.40
		% Balance		0.53%	4.44%	1.19%	0.99%	7.16%
		# Loans		7	70	19	15	111
		% # Loans		0.47%	4.74%	1.29%	1.02%	7.52%
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 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Delinquency Report for July 25, 2003 Distribution


	Delinquency Report - Adjustable Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,752,777.23	3,113,900.90	285,000.73	9,151,678.86
		% Balance			2.88%	1.56%	0.14%	4.59%
		# Loans			29	9	2	40
		% # Loans			3.02%	0.94%	0.21%	4.16%
FORECLOSURE		Balance		-	-	-	3,039,834.60	3,039,834.60
		% Balance		0.00%	0.00%	0.00%	1.52%	1.52%
		# Loans		-	-	-	8	8
		% # Loans		0.00%	0.00%	0.00%	0.83%	0.83%
BANKRUPTCY		Balance		508,407.90	-	391,546.28	-	899,954.18
		% Balance		0.25%	0.00%	0.20%	0.00%	0.45%
		# Loans		2	-	2	-	4
		% # Loans		0.21%	0.00%	0.21%	0.00%	0.42%
REO		Balance		-	-	-	654,874.74	654,874.74
		% Balance		0.00%	0.00%	0.00%	0.33%	0.33%
		# Loans		-	-	-	2	2
		% # Loans		0.00%	0.00%	0.00%	0.21%	0.21%

TOTAL		Balance		508,407.90	5,752,777.23	3,505,447.18	3,979,710.07	13,746,342.38
		% Balance		0.25%	2.88%	1.76%	1.99%	6.89%
		# Loans		2	29	11	12	54
		% # Loans		0.21%	3.02%	1.14%	1.25%	5.62%
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 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	REO Report for July 25, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 2				Loan Group 1 = Fixed Group; REO Book Value = Not Available
Total Original Principal Balance = 642,000.00				Loan Group 2 = Adjustable Group; REO Book Value = Not Available
Total Current Balance = 637,974.81				Loan Group 3 = Adjustable Group; REO Book Value = Not Available
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

11544584 1		54,000.00	52,863.82	Mar-01-03	7.775%	TN - 80.00%	180	Nov-25-02
11530258 3		588,000.00	585,110.99	Mar-01-03	7.875%	CA - 80.00%	360	Nov-07-02


				Page 15 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Foreclosure Report for July 25, 2003 Distribution


	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 14				Loan Group 1 = Fixed Group
Total Original Principal Balance = 2,298,382.00				Loan Group 2 = Adjustable Group
Total Current Balance = 2,290,366.39				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

11553042 1		50,750.00	50,675.77	Mar-16-03	11.990%	AR - 70.00%	360	Jan-10-03
11560803 1		109,500.00	109,102.67	Feb-01-03	7.675%	WA - 75.00%	360	Jan-10-03
11563883 1		63,000.00	62,716.79	Feb-01-03	8.990%	WA - 64.29%	360	Oct-22-02
11579903 1		104,000.00	103,813.25	Mar-01-03	9.990%	FL - 80.00%	360	Feb-26-03
11547065 2		77,250.00	77,128.26	Mar-01-03	11.650%	MI - 75.00%	360	Jan-07-03
11548073 2		61,200.00	60,805.55	Mar-01-03	7.490%	IN - 80.00%	360	Oct-17-02
11559744 2		221,400.00	219,866.05	Jun-01-03	7.990%	CA - 90.00%	360	Aug-19-02
11562071 2		137,500.00	137,287.96	Mar-01-03	11.750%	CT - 79.94%	360	Jan-14-03
11565442 2		79,800.00	79,623.66	Mar-01-03	9.000%	VA - 70.00%	360	Feb-05-03
11565458 2		189,000.00	188,652.27	Mar-01-03	9.875%	NJ - 90.00%	360	Feb-14-03
11568228 2		262,982.00	261,792.52	Mar-01-03	7.500%	CA - 79.95%	360	Dec-17-02
11540049 3		142,500.00	141,952.74	Mar-01-03	9.750%	MS - 95.00%	360	Oct-31-02
11561673 3		130,500.00	130,055.43	Mar-01-03	7.990%	AZ - 90.00%	360	Jan-08-03
11567097 3		669,000.00	666,893.47	Mar-01-03	7.250%	MD - 49.96%	360	Feb-21-03


				Page 16 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Prepayment Report for July 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	*Current*
	Number of Paid in Full Loans				18	26	21	65
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				18	26	21	65

	Paid in Full Balance				4,196,352.41	3,928,115.27	2,198,885.47	10,323,353.15
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				4,289.30	7,201.79	25,016.85	36,507.94
	Total Prepayment Amount				4,200,641.71	3,935,317.06	2,223,902.32	10,359,861.09

	*Cumulative*
	Number of Paid in Full Loans				48	65	65	178
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				48	65	65	178

	Paid in Full Balance				14,260,477.93	10,683,514.65	8,982,027.15	33,926,019.73
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				68,984.84	80,514.57	179,859.79	329,359.20
	Total Prepayment Amount				14,329,462.77	10,764,029.22	9,161,886.94	34,255,378.93

SPACE INTENTIONALLY LEFT BLANK


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


				Page 17 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Prepayment Report for July 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	SMM				2.06%	1.90%	0.71%	1.43%
	3 Months Avg SMM				1.94%	1.37%	0.63%	1.21%
	12 Months Avg SMM
	Avg SMM Since Cut-off				1.77%	1.33%	0.80%	1.23%

	CPR				22.12%	20.54%	8.22%	15.89%
	3 Months Avg CPR				20.91%	15.27%	7.33%	13.64%
	12 Months Avg CPR
	Avg CPR Since Cut-off				19.31%	14.89%	9.14%	13.77%

	PSA				1849.31%	1672.19%	733.16%	1355.44%
	3 Months Avg PSA Approximation				2087.11%	1479.16%	794.02%	1396.16%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				2092.54%	1552.54%	1074.56%	1525.88%



	Fixed		Adjustable
	Adjustable


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 18 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Prepayment Report for July 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 27				© COPYRIGHT 2003 Deutsche Bank


	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Prepayment Detail Report for July 25, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 65						Loan Group 1 = Fixed Group
Total Original Principal Balance = 10,371,947.38						Loan Group 2 = Adjustable Group
Total Prepayment Amount = 10,323,353.15						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

10008316 1			20,300.00	19,757.42	Jul-09-03	13.000%	MI - 16.91%	Paid Off - 180	Feb-20-97
11503667 1			57,000.00	55,802.91	Jun-25-03	10.750%	CT - 25.33%	Paid Off - 180	Aug-16-02
11533901 1			25,000.00	24,942.45	Jul-02-03	12.750%	MD - 21.59%	Paid Off - 180	Oct-18-02
11534691 1			131,000.00	130,449.38	Jul-15-03	7.375%	MD - 53.47%	Paid Off - 180	Dec-26-02
11535692 1			63,300.00	63,098.55	Jul-11-03	9.990%	MI - 74.47%	Paid Off - 360	Oct-25-02
11539319 1			93,490.00	93,313.79	Jun-26-03	11.690%	ME - 84.99%	Paid Off - 360	Nov-07-02
11547123 1			99,450.00	98,876.42	Jul-17-03	6.250%	OH - 85.00%	Paid Off - 360	Oct-29-02
11549746 1			215,000.00	214,249.66	Jul-17-03	6.725%	NY - 84.31%	Paid Off - 360	Jan-08-03
11550189 1			129,600.00	129,278.68	Jun-19-03	10.430%	MD - 80.00%	Paid Off - 180	Nov-23-02
11552216 1			193,000.00	191,097.57	Jul-14-03	6.875%	CA - 75.69%	Paid Off - 240	Nov-27-02
11555304 1			80,000.00	79,039.13	Jul-11-03	7.675%	TX - 80.00%	Paid Off - 180	Jan-09-03
11556254 1			50,000.00	49,491.15	Jun-18-03	9.550%	KY - 44.64%	Paid Off - 180	Jan-13-03
11556676 1			175,000.00	170,383.25	Jun-25-03	7.800%	WI - 77.78%	Paid Off - 144	Dec-18-02
11556770 1			71,000.00	70,752.46	Jun-30-03	7.875%	IN - 77.17%	Paid Off - 360	Dec-18-02
11556935 1			35,000.00	34,897.80	Jul-01-03	8.750%	MS - 52.63%	Paid Off - 360	Dec-23-02
11559283 1			119,500.00	117,017.55	Jul-16-03	9.500%	MD - 88.52%	Paid Off - 180	Sep-12-02
11559752 1			150,000.00	147,957.61	Jul-08-03	8.490%	CA - 69.77%	Paid Off - 180	Aug-29-02
11570677 1			210,000.00	209,671.37	Jul-02-03	7.250%	AZ - 75.00%	Paid Off - 360	Feb-25-03
11575052 1			111,000.00	110,746.34	Jul-16-03	7.625%	MO - 100.00%	Paid Off - 360	Feb-24-03
11575128 1			76,400.00	76,256.53	Jun-27-03	8.375%	FL - 80.00%	Paid Off - 360	Feb-26-03
11585516 1			112,000.00	111,805.45	Jul-02-03	6.750%	MA - 56.28%	Paid Off - 360	Mar-01-03
11536253 2			68,200.00	68,039.75	Jul-03-03	10.875%	OH - 55.00%	Paid Off - 360	Dec-09-02
11537949 2			285,000.00	283,916.19	Jul-10-03	8.365%	NJ - 89.62%	Paid Off - 360	Nov-05-02
11548272 2			132,000.00	131,817.72	Jul-02-03	12.250%	NJ - 60.00%	Paid Off - 360	Dec-26-02
11551582 2			176,200.00	175,450.33	Jul-09-03	6.875%	CA - 78.31%	Paid Off - 360	Dec-04-02
11551979 2			135,000.00	134,305.02	Jul-01-03	5.875%	MA - 63.68%	Paid Off - 360	Dec-17-02
11552261 2			148,500.00	148,065.97	Jul-03-03	7.625%	ME - 78.99%	Paid Off - 360	Jan-07-03
11552423 2			247,500.00	246,848.49	Jul-14-03	9.250%	IL - 90.00%	Paid Off - 360	Dec-20-02
11555193 2			81,600.00	81,423.90	Jul-02-03	10.375%	WI - 80.00%	Paid Off - 360	Jan-03-03
11557720 2			318,750.00	317,824.36	Jun-27-03	8.775%	NC - 85.00%	Paid Off - 360	Dec-26-02
11557885 2			114,390.00	113,876.91	Jul-10-03	8.375%	CA - 93.00%	Paid Off - 360	Oct-15-02
11558419 2			52,500.00	52,207.42	Jul-02-03	9.990%	KS - 70.00%	Paid Off - 360	May-24-02
11559522 2			100,800.00	100,402.07	Jun-18-03	7.250%	TX - 80.00%	Paid Off - 360	Dec-27-02
11559650 2			170,000.00	169,477.74	Jul-01-03	8.500%	CA - 77.27%	Paid Off - 360	Dec-23-02
11559879 2			252,800.00	251,963.87	Jul-11-03	7.000%	VA - 80.00%	Paid Off - 360	Jan-08-03
11560149 2			144,000.00	143,178.43	Jul-02-03	9.875%	NJ - 90.00%	Paid Off - 360	May-14-02
11560594 2			180,000.00	178,633.51	Jul-14-03	8.500%	CA - 90.00%	Paid Off - 360	May-23-02
11560665 2			73,100.00	72,643.05	Jun-20-03	8.990%	AZ - 85.00%	Paid Off - 360	Jun-03-02
11560751 2			225,000.00	223,914.76	Jun-30-03	11.150%	CA - 38.79%	Paid Off - 360	May-20-02
11561175 2			180,000.00	178,891.85	Jun-19-03	10.250%	NV - 90.00%	Paid Off - 360	Jun-14-02
11561720 2			105,400.00	105,136.74	Jul-03-03	6.950%	MD - 85.00%	Paid Off - 360	Feb-15-03
11563083 2			28,405.00	28,348.46	Jul-16-03	9.500%	LA - 95.00%	Paid Off - 360	Jan-31-03
11564488 2			230,925.00	230,103.26	Jun-30-03	6.625%	CA - 75.00%	Paid Off - 360	Jan-21-03
11564975 2			106,700.00	106,438.68	Jun-20-03	8.500%	FL - 74.96%	Paid Off - 360	Jan-22-03

					Page 20 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Prepayment Detail Report for July 25, 2003 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

11566922 2			171,750.00	171,307.39	Jul-15-03	8.250%	VA - 75.00%	Paid Off - 360	Jan-27-03
11570207 2			72,000.00	71,868.21	Jul-07-03	8.500%	TX - 80.00%	Paid Off - 360	Feb-10-03
11573706 2			142,400.00	142,031.19	Jul-09-03	7.500%	MO - 80.00%	Paid Off - 360	Feb-10-03
11534470 3			25,000.00	24,886.25	Jul-02-03	9.875%	IL - 53.76%	Paid Off - 360	Jan-09-03
11540869 3			88,000.00	87,755.11	Jun-19-03	9.875%	CT - 80.00%	Paid Off - 360	Oct-31-02
11548589 3			625,000.00	623,840.33	Jul-16-03	10.900%	CT - 54.35%	Paid Off - 360	Dec-26-02
11553629 3			345,000.00	343,992.67	Jul-03-03	8.750%	NV - 57.50%	Paid Off - 360	Dec-26-02
11555172 3			382,500.00	381,294.54	Jun-27-03	8.375%	NY - 90.00%	Paid Off - 360	Dec-12-02
11557446 3			185,500.00	184,672.38	Jul-02-03	8.000%	CA - 70.00%	Paid Off - 360	Dec-23-02
11557839 3			172,000.00	171,091.79	Jun-30-03	10.250%	MA - 82.69%	Paid Off - 360	May-15-02
11557849 3			103,410.00	102,951.59	Jul-02-03	11.375%	NY - 90.00%	Paid Off - 360	May-31-02
11559630 3			453,000.00	451,339.67	Jun-27-03	7.625%	LA - 75.00%	Paid Off - 360	Dec-26-02
11560219 3			238,000.00	236,944.43	Jul-01-03	9.375%	NY - 85.00%	Paid Off - 360	Sep-25-02
11560357 3			235,000.00	233,206.13	Jul-09-03	7.500%	CA - 78.33%	Paid Off - 360	Jul-26-02
11560361 3			76,500.00	76,074.70	Jul-01-03	7.750%	MI - 90.00%	Paid Off - 360	Oct-10-02
11562475 3			455,577.38	453,358.35	Jul-01-03	10.625%	VA - 85.00%	Paid Off - 360	Jun-03-02
11562706 3			357,000.00	356,007.53	Jul-08-03	7.875%	VA - 85.00%	Paid Off - 360	Jan-31-03
11563059 3			144,500.00	143,609.03	Jul-14-03	9.500%	CO - 85.00%	Paid Off - 360	May-16-02
11565405 3			76,000.00	75,804.98	Jul-16-03	11.000%	VA - 63.33%	Paid Off - 360	Oct-02-02
11569392 3			60,000.00	59,927.85	Jun-19-03	10.500%	WI - 75.00%	Paid Off - 360	Feb-07-03
11570837 3			190,000.00	189,595.08	Jul-09-03	7.750%	MA - 77.55%	Paid Off - 360	Jan-31-03


					Page 21 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 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				1	-	-	1
	Collateral Realized Loss/(Gain) Amount				8,074.80	-	-	8,074.80
	Net Liquidation Proceeds				242,506.49	-	-	242,506.49

	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 22 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 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				0.04%	0.00%	0.00%	0.01%
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.03%	0.00%	0.00%	0.01%

	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR				0.48%	0.00%	0.00%	0.14%
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.36%	0.00%	0.00%	0.10%

	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation				4.80%	0.00%	0.00%	1.40%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				3.91%	0.00%	0.00%	1.13%

	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 23 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Realized Loss Report for July 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 24 of 27				© COPYRIGHT 2003 Deutsche Bank


	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Realized Loss Detail Report for July 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 25 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 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				7,485,157.25	4,445,660.21	1,408,863.12	13,339,680.58


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


ADDITIONAL INFORMATION					ADJUSTABLE	ADJUSTABLE	FIXED	TOTAL

	Fixed Rate Net WAC Cap							5.957668%
	Fixed Rate Net WAC Cap (AF-1 only)							5.957668%
	Variable Net WAC Cap							6.119547%
	Subordinate Net WAC Cap							6.051511%
	Subordinate Net WAC Cap (BF only)							6.051511%


				Page 26 of 27				© COPYRIGHT 2003 Deutsche Bank
	Saxon Asset Securities Trust 2003-1
	Mortgage Pass-Through Certificates

	Additional Certificate Report for July 25, 2003 Distribution


	Additional Certificate Report


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

	AF-1				1.135000%	0.00	20.93	0.00
	AF-2				2.390000%	0.00	17.67	0.00
	AF-3				2.920000%	0.00	26.51	0.00
	AF-4				3.960000%	0.00	21.14	0.00
	AF-5				4.955000%	0.00	34.21	0.00
	AF-6				4.295000%	0.00	17.56	0.00
	AF-7				3.534000%	0.00	40.99	0.00
	AV-1				1.345000%	0.00	0.00	0.00
	AV-2				1.355000%	0.00	0.00	0.00
	AF-IO				4.150000%	0.00	98.74	0.00
	AV-IO				4.150000%	0.00	0.00	0.00
	S				0.302500%	0.00	0.00	0.00
	M-1				1.735000%	0.00	18.77	0.00
	M-2				2.735000%	0.00	25.90	0.00
	M-3				3.535000%	0.00	9.56	0.00
	BF				6.000000%	0.00	22.54	0.00
	BV				4.535000%	0.00	5.45	0.00


				Page 27 of 27				© COPYRIGHT 2003 Deutsche Bank

SAXON ASSET SECURITIES CO MORT LOAN ASSET BK CER SER 2003-1 8-K