
                                    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): October 25, 2005
                             (Date of earliest event reported)


                             SAXON ASSET SECURITIES COMPANY,
            (as Depositor, under the Indenture dated as of September 1, 2005
              and the Sale and Servicing Agreement, dated September 1, 2005,
            providing for the issuance of Saxon Asset Securities Trust 2005-3
                  Mortgage Loan Asset Backed Notes, Series 2005-3)
                    (Exact name of registrant as specified in charter)


                                         VIRGINIA
                     (State or Other Jurisdiction of Incorporation)

               333-111832-06                         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 2005-2
     Mortgage Loan Asset Backed Notes, Series 2005-2 which was made on May 1, 2005


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     October 25, 2005.


                                  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:  Oct 28, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              October 25, 2005.



Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Saxon						1. Certificate Payment Report					2
				Saxon						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					13

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18
										9. Prepayment Detail Report					18
										10. Realized Loss Report					19
										11. Realized Loss Detail Report					22
				Servicer(s)						11. Realized Loss Detail Report					22
				Servicer(s)						12. Triggers and Adj. Cert. Report					23
				Saxon						12. Triggers and Adj. Cert. Report					23
				Saxon						13. Additional Certificate Report					24
										13. Additional Certificate Report					24


				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					24
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			September 01, 2005			Brent Hoyler
				Close Date:			September 29, 2005			Administrator
				First Distribution Date:			October 25, 2005			(714) 247-6322
										Brent.Hoyler@db.com
										Brent.Hoyler@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			October 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			September 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							October 24, 2005
							October 24, 2005

										https://www.tss.db.com/invr






Page 1 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1A	INT	$	360,900,000.00		360,900,000.00		1,068,665.00		3,184,672.38		4,253,337.38		0.00		0.00		357,715,327.62
A-1A	INT	$	360,900,000.00		360,900,000.00		1,068,665.00		3,184,672.38		4,253,337.38		0.00		0.00		357,715,327.62
A-2A	INT	$	185,000,000.00		185,000,000.00		529,100.00		4,889,483.42		5,418,583.42		0.00		0.00		180,110,516.58
A-2B	INT	$	59,800,000.00		59,800,000.00		173,619.33		0.00		173,619.33		0.00		0.00		59,800,000.00
A-2C	INT	$	85,400,000.00		85,400,000.00		254,112.44		0.00		254,112.44		0.00		0.00		85,400,000.00
A-2D	INT	$	30,700,000.00		30,700,000.00		93,345.06		0.00		93,345.06		0.00		0.00		30,700,000.00
M-1	INT	$	34,200,000.00		34,200,000.00		106,210.00		0.00		106,210.00		0.00		0.00		34,200,000.00
M-2	INT	$	31,500,000.00		31,500,000.00		98,280.00		0.00		98,280.00		0.00		0.00		31,500,000.00
M-3	INT	$	20,700,000.00		20,700,000.00		64,883.00		0.00		64,883.00		0.00		0.00		20,700,000.00
M-4	INT	$	16,200,000.00		16,200,000.00		51,948.00		0.00		51,948.00		0.00		0.00		16,200,000.00
M-5	INT	$	15,750,000.00		15,750,000.00		51,073.75		0.00		51,073.75		0.00		0.00		15,750,000.00
M-6	INT	$	13,050,000.00		13,050,000.00		42,789.50		0.00		42,789.50		0.00		0.00		13,050,000.00
B-1	INT	$	14,400,000.00		14,400,000.00		52,416.00		0.00		52,416.00		0.00		0.00		14,400,000.00
B-2	INT	$	9,900,000.00		9,900,000.00		37,108.50		0.00		37,108.50		0.00		0.00		9,900,000.00
B-3	INT	$	9,900,000.00		9,900,000.00		40,587.62		0.00		40,587.62		0.00		0.00		9,900,000.00
B-4	INT	$	12,600,000.00		12,600,000.00		51,656.97		0.00		51,656.97		0.00		0.00		12,600,000.00
X	INT_EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
TRUST	INT_EXE	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			900,000,000.00		900,000,000.00		2,715,795.17		8,074,155.80		10,789,950.97		0.00		0.00		891,925,844.20
Total




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

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1A	09/29/05		10/24/05		A-Act/360		805564SM4		360,900,000.00		1,000.000000		2.961111		8.824252		11.785363	991.175748
A-2A	09/29/05		10/24/05		A-Act/360		805564SN2		185,000,000.00		1,000.000000		2.860000		26.429640		29.289640	973.570360
A-2B	09/29/05		10/24/05		A-Act/360		805564SP7		59,800,000.00		1,000.000000		2.903333		0.000000		2.903333	1,000.000000
A-2C	09/29/05		10/24/05		A-Act/360		805564SQ5		85,400,000.00		1,000.000000		2.975556		0.000000		2.975556	1,000.000000
A-2D	09/29/05		10/24/05		A-Act/360		805564SR3		30,700,000.00		1,000.000000		3.040556		0.000000		3.040556	1,000.000000
M-1	09/29/05		10/24/05		A-Act/360		805564SS1		34,200,000.00		1,000.000000		3.105556		0.000000		3.105556	1,000.000000
M-2	09/29/05		10/24/05		A-Act/360		805564ST9		31,500,000.00		1,000.000000		3.120000		0.000000		3.120000	1,000.000000
M-3	09/29/05		10/24/05		A-Act/360		805564SU6		20,700,000.00		1,000.000000		3.134444		0.000000		3.134444	1,000.000000
M-4	09/29/05		10/24/05		A-Act/360		805564SV4		16,200,000.00		1,000.000000		3.206667		0.000000		3.206667	1,000.000000
M-5	09/29/05		10/24/05		A-Act/360		805564SW2		15,750,000.00		1,000.000000		3.242778		0.000000		3.242778	1,000.000000
M-6	09/29/05		10/24/05		A-Act/360		805564SX0		13,050,000.00		1,000.000000		3.278889		0.000000		3.278889	1,000.000000
B-1	09/29/05		10/24/05		A-Act/360		805564SY8		14,400,000.00		1,000.000000		3.640000		0.000000		3.640000	1,000.000000
B-2	09/29/05		10/24/05		A-Act/360		805564SZ5		9,900,000.00		1,000.000000		3.748333		0.000000		3.748333	1,000.000000
B-3	09/29/05		10/24/05		A-Act/360		805564TA9		9,900,000.00		1,000.000000		4.099760		0.000000		4.099760	1,000.000000
B-4	09/29/05		10/24/05		A-Act/360		805564TB7		12,600,000.00		1,000.000000		4.099760		0.000000		4.099760	1,000.000000
X	09/29/05		10/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
TRUST	09/29/05		10/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

Distribution to Date -
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1A	360,900,000.00		1,068,665.00		3,037,920.87		146,751.51		3,184,672.38		4,253,337.38		0.00		0.00		357,715,327.62
A-2A	185,000,000.00		529,100.00		4,664,173.25		225,310.17		4,889,483.42		5,418,583.42		0.00		0.00		180,110,516.58
A-2B	59,800,000.00		173,619.33		0.00		0.00		0.00		173,619.33		0.00		0.00		59,800,000.00
A-2C	85,400,000.00		254,112.44		0.00		0.00		0.00		254,112.44		0.00		0.00		85,400,000.00
A-2D	30,700,000.00		93,345.06		0.00		0.00		0.00		93,345.06		0.00		0.00		30,700,000.00
M-1	34,200,000.00		106,210.00		0.00		0.00		0.00		106,210.00		0.00		0.00		34,200,000.00
M-2	31,500,000.00		98,280.00		0.00		0.00		0.00		98,280.00		0.00		0.00		31,500,000.00
M-3	20,700,000.00		64,883.00		0.00		0.00		0.00		64,883.00		0.00		0.00		20,700,000.00
M-4	16,200,000.00		51,948.00		0.00		0.00		0.00		51,948.00		0.00		0.00		16,200,000.00
M-5	15,750,000.00		51,073.75		0.00		0.00		0.00		51,073.75		0.00		0.00		15,750,000.00
M-6	13,050,000.00		42,789.50		0.00		0.00		0.00		42,789.50		0.00		0.00		13,050,000.00
B-1	14,400,000.00		52,416.00		0.00		0.00		0.00		52,416.00		0.00		0.00		14,400,000.00
B-2	9,900,000.00		37,108.50		0.00		0.00		0.00		37,108.50		0.00		0.00		9,900,000.00
B-3	9,900,000.00		40,587.62		0.00		0.00		0.00		40,587.62		0.00		0.00		9,900,000.00
B-4	12,600,000.00		51,656.97		0.00		0.00		0.00		51,656.97		0.00		0.00		12,600,000.00
X	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
TRUST	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total	900,000,000.00		2,715,795.17		7,702,094.12		372,061.68		8,074,155.80		10,789,950.97		0.00		0.00		891,925,844.20


Interest Detail -
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1A	4.10000%		360,900,000.00		1,068,665.00		0.00		0.00		0.00		1,068,665.00		1,068,665.00		0.00
A-2A	3.96000%		185,000,000.00		529,100.00		0.00		0.00		0.00		529,100.00		529,100.00		0.00
A-2B	4.02000%		59,800,000.00		173,619.33		0.00		0.00		0.00		173,619.33		173,619.33		0.00
A-2C	4.12000%		85,400,000.00		254,112.44		0.00		0.00		0.00		254,112.44		254,112.44		0.00
A-2D	4.21000%		30,700,000.00		93,345.06		0.00		0.00		0.00		93,345.06		93,345.06		0.00
M-1	4.30000%		34,200,000.00		106,210.00		0.00		0.00		0.00		106,210.00		106,210.00		0.00
M-2	4.32000%		31,500,000.00		98,280.00		0.00		0.00		0.00		98,280.00		98,280.00		0.00
M-3	4.34000%		20,700,000.00		64,883.00		0.00		0.00		0.00		64,883.00		64,883.00		0.00
M-4	4.44000%		16,200,000.00		51,948.00		0.00		0.00		0.00		51,948.00		51,948.00		0.00
M-5	4.49000%		15,750,000.00		51,073.75		0.00		0.00		0.00		51,073.75		51,073.75		0.00
M-6	4.54000%		13,050,000.00		42,789.50		0.00		0.00		0.00		42,789.50		42,789.50		0.00
B-1	5.04000%		14,400,000.00		52,416.00		0.00		0.00		0.00		52,416.00		52,416.00		0.00
B-2	5.19000%		9,900,000.00		37,108.50		0.00		0.00		0.00		37,108.50		37,108.50		0.00
B-3	5.67659%		9,900,000.00		40,587.62		0.00		0.00		0.00		40,587.62		40,587.62		0.00
B-4	5.67659%		12,600,000.00		51,656.97		0.00		0.00		0.00		51,656.97		51,656.97		0.00
X	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
TRUST	0.00000%		0.00		0.00		-911,878.05		0.00		0.00		911,878.05		0.00		911,878.05

Total			900,000,000.00		2,715,795.17		-911,878.05		0.00		0.00		3,627,673.22		2,715,795.17		911,878.05



Page 3 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										4,299,663.09		2,800,504.08		7,100,167.17
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										4,299,663.09		2,800,504.08		7,100,167.17
Interest Collections										2,265,515.67		2,268,880.51		4,534,396.18
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		0.00
Interest Fees										-106,833.95		-112,343.13		-216,835.47
TOTAL NET INTEREST										2,158,681.72		2,156,537.38		4,317,560.71
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										6,458,344.81		4,957,041.46		11,417,727.88
Retained Interest paid to SAXON Funding Management														31,643.58



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											178,508.60		193,553.08		372,061.68
Curtailments											4,121,154.49		2,606,951.00		6,728,105.49
Prepayments In Full											0.00		0.00		0.00
Repurchased/Substitutions											0.00		0.00		0.00
Liquidations											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-27,199.05		-27,678.52		-54,877.57
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											27,199.05		27,678.52		54,877.57
TOTAL PRINCIPAL COLLECTED											4,299,663.09		2,800,504.08		7,100,167.17


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS										0.00		0.00		0.00





Page 4 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										2,278,788.15		2,280,301.75		4,559,089.90
Repurchased/Substitution Interest										0.00		0.00		0.00
Liquidation Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-0.00		-0.00		-0.00
Delinquent Interest										-393,860.18		-341,882.60		-735,742.78
Compensating Interest										0.00		0.00		0.00
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										380,587.71		330,461.35		711,049.06
TOTAL INTEREST COLLECTED										2,265,515.67		2,268,880.51		4,534,396.18


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														0.00
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		0.00



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										66,047.16		67,477.00		133,524.16
Master Servicing Fees										15,863.93		15,779.65		31,643.58
PMI Insurance Fees										23,748.94		27,918.79		51,667.73
TOTAL INTEREST FEES										106,833.95		112,343.13		216,835.47
Net Swap Payment														596,133.33




Page 5 of 24
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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralization Amount														973,988.63
Overcollateralization Target Amount														21,600,000.00
Overcollateralization Deficiency Amount														20,626,011.37
Overcollateralization Release Amount														0.00



Page 6 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										1,761		2,313		4,074
Prior										1,761		2,313		4,074
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-0		-0		-0
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										1,746		2,298		4,044
Principal Balance:


Original										380,734,261.85		378,711,544.68		759,445,806.53
Prior										380,734,261.85		378,711,544.68		759,445,806.53
Prefunding										0.00		0.00		0.00
Scheduled Principal										-178,508.60		-193,553.08		-372,061.68
Partial Prepayments										-4,121,154.49		-2,606,951.00		-6,728,105.49
Full Voluntary Prepayments										-0.00		-0.00		-0.00
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										376,434,598.76		375,911,040.60		752,345,639.36





PREFUNDING
PREFUNDING
										Group 2		Group 1		Total
Prefunding Account Original Balance										69,265,738.05		71,288,455.42		140,554,193.47
Prefunding Account Month Begining Balance										0.00		0.00		0.00
Subsequent Loans Added to the Pool for the month										0.00		0.00		0.00
Prefunding Release to Certificate Holders										0.00		0.00		0.00
Prefunding Account Month Ending Balance										69,265,738.05		71,288,455.42		140,554,193.47





Page 7 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.18229%		7.22545%		7.20382%
Weighted Average Coupon Prior										7.18229%		7.22545%		7.20382%
Weighted Average Coupon Current										7.18229%		7.22545%		7.20382%
Weighted Average Months to Maturity Original										354		354		354
Weighted Average Months to Maturity Prior										354		354		354
Weighted Average Months to Maturity Current										354		354		354
Weighted Avg Remaining Amortization Term Original										354		354		354
Weighted Avg Remaining Amortization Term Prior										354		354		354
Weighted Avg Remaining Amortization Term Current										354		354		354
Weighted Average Seasoning Original										2.00		1.92		1.96
Weighted Average Seasoning Prior										2.00		1.92		1.96
Weighted Average Seasoning Current										2.00		1.92		1.96









Page 8 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										5.88342%		5.87465%		5.87904%
Weighted Average Margin Prior										5.88342%		5.87465%		5.87904%
Weighted Average Margin Current										5.88342%		5.87465%		5.87904%
Weighted Average Max Rate Original										13.23830%		13.23750%		13.23790%
Weighted Average Max Rate Prior										13.23830%		13.23750%		13.23790%
Weighted Average Max Rate Current										13.23830%		13.23750%		13.23790%
Weighted Average Min Rate Original										6.16486%		6.16659%		6.16572%
Weighted Average Min Rate Prior										6.16486%		6.16659%		6.16572%
Weighted Average Min Rate Current										6.16486%		6.16659%		6.16572%
Weighted Average Cap Up Original										1.03432%		1.01639%		1.02538%
Weighted Average Cap Up Prior										1.03432%		1.01639%		1.02538%
Weighted Average Cap Up Current										1.03432%		1.01639%		1.02538%
Weighted Average Cap Down Original										1.03432%		1.01639%		1.02538%
Weighted Average Cap Down Prior										1.03432%		1.01639%		1.02538%
Weighted Average Cap Down Current										1.03432%		1.01639%		1.02538%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										66,047.16		67,477.00		133,524.16
Delinquent Servicing Fees										13,272.47		11,421.24		24,693.71
TOTAL SERVICING FEES										82,498.57		82,056.85		164,555.42


Servicing Fees										82,498.57		82,056.85		164,555.42
Master Servicing Fees										15,863.93		15,779.65		31,643.58
Total Servicing Fees (incl. Master Servicing Fees)										95,183.57		94,677.89		189,861.46
Compensating Interest										-0.00		-0.00		-0.00
Delinquent Servicing Fees										-13,272.47		-11,421.24		-24,693.71
COLLECTED SERVICING FEES										81,911.09		83,256.65		165,167.74

Total Advanced Interest										380,587.71		330,461.35		711,049.06
Total Advanced Principal										27,199.05		27,678.52		54,877.57
Aggregate Advances with respect to this Distribution										55,612.62		57,009.75		112,622.37





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00
Compensating Interest										-0.00		-0.00		-0.00
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00

Libor For Current Period														3.8400%
Libor For Next Period														4.0375%
Retained Interest paid to SAXON Funding Management														31,643.58




Page 9 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				337,500.00		0.00		0.00		337,500.00
			% Balance				0.04%		0.00%		0.00%		0.04%
			# Loans				1		0		0		1
			% # Loans				0.02%		0.00%		0.00%		0.02%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		86,275.00		0.00		0.00		0.00		86,275.00
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.02%		0.00%		0.00%		0.00%		0.02%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		86,275.00		337,500.00		0.00		0.00		423,775.00
			% Balance		0.01%		0.04%		0.00%		0.00%		0.06%
			# Loans		1		1		0		0		2
			% # Loans		0.02%		0.02%		0.00%		0.00%		0.05%









Page 10 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				337,500.00		0.00		0.00		337,500.00
			% Balance				0.09%		0.00%		0.00%		0.09%
			# Loans				1		0		0		1
			% # Loans				0.04%		0.00%		0.00%		0.04%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		86,275.00		0.00		0.00		0.00		86,275.00
			% Balance		0.02%		0.00%		0.00%		0.00%		0.02%
			# Loans		1		0		0		0		1
			% # Loans		0.04%		0.00%		0.00%		0.00%		0.04%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		86,275.00		337,500.00		0.00		0.00		423,775.00
			% Balance		0.02%		0.09%		0.00%		0.00%		0.11%
			# Loans		1		1		0		0		2
			% # Loans		0.04%		0.04%		0.00%		0.00%		0.09%










Page 11 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%









Page 12 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL


Page 13 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL


Page 14 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										0		0		0
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										0		0		0
Curtailments Amount										4,121,154.49		2,606,951.00		6,728,105.49
Paid in Full Balance										0.00		0.00		0.00
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										4,121,154.49		2,606,951.00		6,728,105.49

Cumulative


Number of Paid in Full Loans										0		0		0
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										0		0		0
Paid in Full Balance										0.00		0.00		0.00
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										4,121,154.49		2,606,951.00		6,728,105.49
Total Prepayment Amount										4,121,154.49		2,606,951.00		6,728,105.49










Page 15 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.08%		0.69%		0.89%
3 Months Avg SMM										1.08%		0.69%		0.89%
12 Months Avg SMM										1.08%		0.69%		0.89%
Avg SMM Since Cut-off										1.08%		0.69%		0.89%


CPR										12.25%		7.96%		10.13%
3 Months Avg CPR										12.25%		7.96%		10.13%
12 Months Avg CPR										12.25%		7.96%		10.13%
Avg CPR Since Cut-off										12.25%		7.96%		10.13%


PSA										3,058.71%		2,069.44%		2,581.47%
3 Months Avg PSA Approximation										3,058.71%		2,069.45%		2,581.48%
12 Months Avg PSA Approximation										3,058.71%		2,069.45%		2,581.48%
Avg PSA Since Cut-off Approximation										3,058.71%		2,069.45%		2,581.48%










Page 16 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(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) Conditional Prepayment Rate (CPR): 1-((1-SMM)^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) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 17 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date





SPACE INTENTIONALLY LEFT BLANK


TOTAL


Page 18 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current
Current



Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00

Cumulative
Cumulative



Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00










Page 19 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



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


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


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


Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%












Page 20 of 24
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution





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 21 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 22 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
						Has Stepdown Condition occurred (0 = No, 1=Yes)								0

						Does a Trigger Event Exist-Either a) or b) Yes?								0
						a) Does a Delinquency Trigger Event Exists								0
						b) Does a Loss Trigger Event Exists (0=No,1=Yes)								0

						60+ days Delinqueny Balance								0.00
						Ending Collateral Balance								752,345,639.36
						Delinquency Percentage								0.0000%

						Senior Enhancement Percentage								19.957446%

						Cumulative Loss Percentage								0.00000000%


ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK




Page 23 of 24
Saxon Asset Securities Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

October 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

													NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS

			A-1A										$0.00		$0.00
													$0.00		$0.00
			A-2A										$0.00		$0.00
													$0.00		$0.00
			A-2B										$0.00		$0.00
													$0.00		$0.00
			A-2C										$0.00		$0.00
													$0.00		$0.00
			A-2D										$0.00		$0.00
													$0.00		$0.00
			M-1										$0.00		$0.00
													$0.00		$0.00
			M-2										$0.00		$0.00
													$0.00		$0.00
			M-3										$0.00		$0.00
													$0.00		$0.00
			M-4										$0.00		$0.00
													$0.00		$0.00
			M-5										$0.00		$0.00
													$0.00		$0.00
			M-6										$0.00		$0.00
													$0.00		$0.00
			B-1										$0.00		$0.00
													$0.00		$0.00
			B-2										$0.00		$0.00
													$0.00		$0.00
			B-3										$95.88		$0.00
													$95.88		$0.00
			B-4										#######		$0.00
													#######		$0.00






Page 24 of 24

Saxon Asset Securities Trust 2005-3 8-K