
                                    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): December 27, 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
     December 27, 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:  Dec 29, 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
              December 27, 2005.



Saxon Asset Securities Trust 2005-3

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

December 27, 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					20
										11. Realized Loss Detail Report					23
				Servicer(s)						11. Realized Loss Detail Report					23
				Servicer(s)						12. Triggers and Adj. Cert. Report					24
				Saxon						12. Triggers and Adj. Cert. Report					24
				Saxon						13. Additional Certificate Report					25
										13. Additional Certificate Report					25


				Underwriter(s)
				Greenwich Capital Markets


										Total Number of Pages					25
										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:			December 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			November 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							December 23, 2005
							December 23, 2005

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






Page 1 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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		351,064,187.98		1,389,824.11		8,724,555.13		10,114,379.24		0.00		0.00		342,339,632.85
A-1A	INT	$	360,900,000.00		351,064,187.98		1,389,824.11		8,724,555.13		10,114,379.24		0.00		0.00		342,339,632.85
A-2A	INT	$	185,000,000.00		172,851,707.19		662,790.27		8,669,573.29		9,332,363.56		0.00		0.00		164,182,133.90
A-2B	INT	$	59,800,000.00		59,800,000.00		232,489.11		0.00		232,489.11		0.00		0.00		59,800,000.00
A-2C	INT	$	85,400,000.00		85,400,000.00		339,607.33		0.00		339,607.33		0.00		0.00		85,400,000.00
A-2D	INT	$	30,700,000.00		30,700,000.00		124,539.67		0.00		124,539.67		0.00		0.00		30,700,000.00
M-1	INT	$	34,200,000.00		34,200,000.00		141,474.00		0.00		141,474.00		0.00		0.00		34,200,000.00
M-2	INT	$	31,500,000.00		31,500,000.00		130,865.00		0.00		130,865.00		0.00		0.00		31,500,000.00
M-3	INT	$	20,700,000.00		20,700,000.00		86,365.00		0.00		86,365.00		0.00		0.00		20,700,000.00
M-4	INT	$	16,200,000.00		16,200,000.00		69,030.00		0.00		69,030.00		0.00		0.00		16,200,000.00
M-5	INT	$	15,750,000.00		15,750,000.00		67,812.50		0.00		67,812.50		0.00		0.00		15,750,000.00
M-6	INT	$	13,050,000.00		13,050,000.00		56,767.50		0.00		56,767.50		0.00		0.00		13,050,000.00
B-1	INT	$	14,400,000.00		14,400,000.00		69,040.00		0.00		69,040.00		0.00		0.00		14,400,000.00
B-2	INT	$	9,900,000.00		9,900,000.00		48,785.00		0.00		48,785.00		0.00		0.00		9,900,000.00
B-3	INT	$	9,900,000.00		9,900,000.00		53,185.00		0.00		53,185.00		0.00		0.00		9,900,000.00
B-4	INT	$	12,600,000.00		12,600,000.00		71,401.44		0.00		71,401.44		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		878,015,895.17		3,543,975.93		17,394,128.42		20,938,104.35		0.00		0.00		860,621,766.75
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	11/25/05		12/26/05		A-Act/360		805564SM4		360,900,000.00		972.746434		3.850995		24.174439		28.025434	948.571995
A-2A	11/25/05		12/26/05		A-Act/360		805564SN2		185,000,000.00		934.333552		3.582650		46.862558		50.445208	887.470994
A-2B	11/25/05		12/26/05		A-Act/360		805564SP7		59,800,000.00		1,000.000000		3.887778		0.000000		3.887778	1,000.000000
A-2C	11/25/05		12/26/05		A-Act/360		805564SQ5		85,400,000.00		1,000.000000		3.976667		0.000000		3.976667	1,000.000000
A-2D	11/25/05		12/26/05		A-Act/360		805564SR3		30,700,000.00		1,000.000000		4.056667		0.000000		4.056667	1,000.000000
M-1	11/25/05		12/26/05		A-Act/360		805564SS1		34,200,000.00		1,000.000000		4.136667		0.000000		4.136667	1,000.000000
M-2	11/25/05		12/26/05		A-Act/360		805564ST9		31,500,000.00		1,000.000000		4.154444		0.000000		4.154444	1,000.000000
M-3	11/25/05		12/26/05		A-Act/360		805564SU6		20,700,000.00		1,000.000000		4.172222		0.000000		4.172222	1,000.000000
M-4	11/25/05		12/26/05		A-Act/360		805564SV4		16,200,000.00		1,000.000000		4.261111		0.000000		4.261111	1,000.000000
M-5	11/25/05		12/26/05		A-Act/360		805564SW2		15,750,000.00		1,000.000000		4.305556		0.000000		4.305556	1,000.000000
M-6	11/25/05		12/26/05		A-Act/360		805564SX0		13,050,000.00		1,000.000000		4.350000		0.000000		4.350000	1,000.000000
B-1	11/25/05		12/26/05		A-Act/360		805564SY8		14,400,000.00		1,000.000000		4.794444		0.000000		4.794444	1,000.000000
B-2	11/25/05		12/26/05		A-Act/360		805564SZ5		9,900,000.00		1,000.000000		4.927778		0.000000		4.927778	1,000.000000
B-3	11/25/05		12/26/05		A-Act/360		805564TA9		9,900,000.00		1,000.000000		5.372222		0.000000		5.372222	1,000.000000
B-4	11/25/05		12/26/05		A-Act/360		805564TB7		12,600,000.00		1,000.000000		5.666781		0.000000		5.666781	1,000.000000
X	11/25/05		12/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
TRUST	11/25/05		12/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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		3,781,785.02		17,994,808.14		565,559.01		18,560,367.15		22,342,152.17		0.00		0.00		342,339,632.85
A-2A	185,000,000.00		1,835,993.84		20,158,112.32		659,753.78		20,817,866.10		22,653,859.94		0.00		0.00		164,182,133.90
A-2B	59,800,000.00		623,286.26		0.00		0.00		0.00		623,286.26		0.00		0.00		59,800,000.00
A-2C	85,400,000.00		911,223.92		0.00		0.00		0.00		911,223.92		0.00		0.00		85,400,000.00
A-2D	30,700,000.00		334,401.89		0.00		0.00		0.00		334,401.89		0.00		0.00		30,700,000.00
M-1	34,200,000.00		380,135.38		0.00		0.00		0.00		380,135.38		0.00		0.00		34,200,000.00
M-2	31,500,000.00		351,682.19		0.00		0.00		0.00		351,682.19		0.00		0.00		31,500,000.00
M-3	20,700,000.00		232,128.94		0.00		0.00		0.00		232,128.94		0.00		0.00		20,700,000.00
M-4	16,200,000.00		185,671.13		0.00		0.00		0.00		185,671.13		0.00		0.00		16,200,000.00
M-5	15,750,000.00		182,460.47		0.00		0.00		0.00		182,460.47		0.00		0.00		15,750,000.00
M-6	13,050,000.00		152,794.66		0.00		0.00		0.00		152,794.66		0.00		0.00		13,050,000.00
B-1	14,400,000.00		186,401.00		0.00		0.00		0.00		186,401.00		0.00		0.00		14,400,000.00
B-2	9,900,000.00		130,666.84		0.00		0.00		0.00		130,666.84		0.00		0.00		9,900,000.00
B-3	9,900,000.00		138,641.84		0.00		0.00		0.00		138,641.84		0.00		0.00		9,900,000.00
B-4	12,600,000.00		184,658.55		0.00		0.00		0.00		184,658.55		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		9,611,931.93		38,152,920.46		1,225,312.79		39,378,233.25		48,990,165.18		0.00		0.00		860,621,766.75


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	4.45375%		351,064,187.98		1,389,824.11		0.00		0.00		0.00		1,389,824.11		1,389,824.11		0.00
A-2A	4.31375%		172,851,707.19		662,790.27		0.00		0.00		0.00		662,790.27		662,790.27		0.00
A-2B	4.37375%		59,800,000.00		232,489.11		0.00		0.00		0.00		232,489.11		232,489.11		0.00
A-2C	4.47375%		85,400,000.00		339,607.33		0.00		0.00		0.00		339,607.33		339,607.33		0.00
A-2D	4.56375%		30,700,000.00		124,539.67		0.00		0.00		0.00		124,539.67		124,539.67		0.00
M-1	4.65375%		34,200,000.00		141,474.00		0.00		0.00		0.00		141,474.00		141,474.00		0.00
M-2	4.67375%		31,500,000.00		130,865.00		0.00		0.00		0.00		130,865.00		130,865.00		0.00
M-3	4.69375%		20,700,000.00		86,365.00		0.00		0.00		0.00		86,365.00		86,365.00		0.00
M-4	4.79375%		16,200,000.00		69,030.00		0.00		0.00		0.00		69,030.00		69,030.00		0.00
M-5	4.84375%		15,750,000.00		67,812.50		0.00		0.00		0.00		67,812.50		67,812.50		0.00
M-6	4.89375%		13,050,000.00		56,767.50		0.00		0.00		0.00		56,767.50		56,767.50		0.00
B-1	5.39375%		14,400,000.00		69,040.00		0.00		0.00		0.00		69,040.00		69,040.00		0.00
B-2	5.54375%		9,900,000.00		48,785.00		0.00		0.00		0.00		48,785.00		48,785.00		0.00
B-3	6.04375%		9,900,000.00		53,185.00		0.00		0.00		0.00		53,185.00		53,185.00		0.00
B-4	6.37513%		12,600,000.00		71,401.44		0.00		0.00		0.00		71,401.44		71,401.44		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		286.10		2,361,067.09		0.00		2,360,780.99		0.00		2,361,067.09

Total			878,015,895.17		3,543,975.93		286.10		2,361,067.09		0.00		5,904,756.92		3,543,975.93		2,361,067.09



Page 3 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										7,855,745.96		7,905,566.56		15,761,312.52
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										7,855,745.96		7,905,566.56		15,761,312.52
Interest Collections										2,617,466.19		2,654,206.85		5,271,673.05
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		185,514.18
Interest Fees										-122,094.47		-124,316.88		-243,695.56
TOTAL NET INTEREST										2,495,371.72		2,529,889.97		5,213,491.67
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										10,351,117.68		10,435,456.53		20,974,804.19
Retained Interest paid to SAXON Funding Management														36,699.83



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											203,576.41		221,737.27		425,313.68
Curtailments											295,393.54		18,736.36		314,129.90
Prepayments In Full											7,356,776.01		7,665,092.93		15,021,868.94
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											-41,432.48		-48,763.38		-90,195.86
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											41,432.48		48,763.38		90,195.86
TOTAL PRINCIPAL COLLECTED											7,855,745.96		7,905,566.56		15,761,312.52


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 25
Saxon Asset Securities Trust 2005-3

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

December 27, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										2,636,806.84		2,674,759.51		5,311,566.35
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										-3,505.86		-3,632.42		-7,138.28
Delinquent Interest										-571,073.61		-614,835.23		-1,185,908.84
Compensating Interest										3,505.86		3,632.42		7,138.28
Civil Relief Act Shortfalls										-258.50		-27.60		-286.10
Interest Advanced										551,991.45		594,310.19		1,146,301.64
TOTAL INTEREST COLLECTED										2,617,466.19		2,654,206.85		5,271,673.05


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														185,514.18
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		185,514.18



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										72,461.24		71,430.72		143,891.96
Master Servicing Fees										18,308.68		18,391.15		36,699.83
PMI Insurance Fees										29,969.71		33,134.06		63,103.77
TOTAL INTEREST FEES										122,094.47		124,316.88		243,695.56
Net Swap Payment														0.00




Page 5 of 25
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Mortgage Pass-Through Certificates
2005-3

December 27, 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														4,412,920.24
Overcollateralization Target Amount														21,600,000.00
Overcollateralization Deficiency Amount														17,187,079.76
Overcollateralization Release Amount														0.00



Page 6 of 25
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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										1,761		2,313		4,074
Prior										2,015		2,714		4,729
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-26		-39		-65
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										1,988		2,675		4,663
Principal Balance:


Original										380,734,261.85		378,711,544.68		759,445,806.53
Prior										439,408,280.91		441,387,718.60		880,795,999.51
Prefunding										0.00		0.00		0.00
Scheduled Principal										-203,576.41		-221,737.27		-425,313.68
Partial Prepayments										-295,393.54		-18,736.36		-314,129.90
Full Voluntary Prepayments										-7,356,776.01		-7,665,092.93		-15,021,868.94
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										431,552,534.95		433,482,152.04		865,034,686.99





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										69,265,738.05		71,288,455.42		140,554,193.47
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										0.00		0.00		0.00





Page 7 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.18229%		7.22545%		7.20382%
Weighted Average Coupon Prior										7.21022%		7.27347%		7.24190%
Weighted Average Coupon Current										7.20731%		7.27186%		7.23966%
Weighted Average Months to Maturity Original										354		354		354
Weighted Average Months to Maturity Prior										354		354		354
Weighted Average Months to Maturity Current										353		353		353
Weighted Avg Remaining Amortization Term Original										354		354		354
Weighted Avg Remaining Amortization Term Prior										354		354		354
Weighted Avg Remaining Amortization Term Current										357		358		357
Weighted Average Seasoning Original										2.00		1.92		1.96
Weighted Average Seasoning Prior										2.73		2.68		2.70
Weighted Average Seasoning Current										3.72		3.67		3.69









Page 8 of 25
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Mortgage Pass-Through Certificates
2005-3

December 27, 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										5.93839%		5.94121%		5.93981%
Weighted Average Margin Current										5.93895%		5.93856%		5.93875%
Weighted Average Max Rate Original										13.23830%		13.23750%		13.23790%
Weighted Average Max Rate Prior										13.27150%		13.29501%		13.28331%
Weighted Average Max Rate Current										13.26962%		13.29332%		13.28153%
Weighted Average Min Rate Original										6.16486%		6.16659%		6.16572%
Weighted Average Min Rate Prior										6.20391%		6.21991%		6.21194%
Weighted Average Min Rate Current										6.20098%		6.21878%		6.20992%
Weighted Average Cap Up Original										1.03432%		1.01639%		1.02538%
Weighted Average Cap Up Prior										1.03290%		1.01724%		1.02504%
Weighted Average Cap Up Current										1.03238%		1.01745%		1.02488%
Weighted Average Cap Down Original										1.03432%		1.01639%		1.02538%
Weighted Average Cap Down Prior										1.03290%		1.01724%		1.02504%
Weighted Average Cap Down Current										1.03238%		1.01745%		1.02488%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										72,461.24		71,430.72		143,891.96
Delinquent Servicing Fees										19,082.15		20,525.05		39,607.20
TOTAL SERVICING FEES										95,266.34		95,622.91		190,889.25


Servicing Fees										95,266.34		95,622.91		190,889.25
Master Servicing Fees										18,308.68		18,391.15		36,699.83
Total Servicing Fees (incl. Master Servicing Fees)										109,852.07		110,346.93		220,199.00
Compensating Interest										-3,505.86		-3,632.42		-7,138.28
Delinquent Servicing Fees										-19,082.15		-20,525.05		-39,607.20
COLLECTED SERVICING FEES										87,264.06		86,189.46		173,453.52

Total Advanced Interest										551,991.45		594,310.19		1,146,301.64
Total Advanced Principal										41,432.48		48,763.38		90,195.86
Aggregate Advances with respect to this Distribution										95,344.18		100,787.16		196,131.34





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										3,505.86		3,632.42		7,138.28
Compensating Interest										-3,505.86		-3,632.42		-7,138.28
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00

Libor For Current Period														4.1938%
Libor For Next Period														4.3788%
Retained Interest paid to SAXON Funding Management														36,699.83




Page 9 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,242,794.64		2,644,739.36		642,326.50		10,529,860.50
			% Balance				0.84%		0.31%		0.07%		1.22%
			# Loans				42		13		2		57
			% # Loans				0.90%		0.28%		0.04%		1.22%
	FORECLOSURE		Balance		0.00		0.00		0.00		903,388.49		903,388.49
			% Balance		0.00%		0.00%		0.00%		0.10%		0.10%
			# Loans		0		0		0		4		4
			% # Loans		0.00%		0.00%		0.00%		0.09%		0.09%
	BANKRUPTCY		Balance		0.00		86,275.00		0.00		0.00		86,275.00
			% Balance		0.00%		0.01%		0.00%		0.00%		0.01%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.02%		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		0.00		7,329,069.64		2,644,739.36		1,545,714.99		11,519,523.99
			% Balance		0.00%		0.85%		0.31%		0.18%		1.33%
			# Loans		0		43		13		6		62
			% # Loans		0.00%		0.92%		0.28%		0.13%		1.33%








Page 10 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				4,631,668.48		807,794.54		0.00		5,439,463.02
			% Balance				1.07%		0.19%		0.00%		1.25%
			# Loans				29		6		0		35
			% # Loans				1.08%		0.22%		0.00%		1.31%
	FORECLOSURE		Balance		0.00		0.00		0.00		376,361.44		376,361.44
			% Balance		0.00%		0.00%		0.00%		0.09%		0.09%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.07%		0.07%
	BANKRUPTCY		Balance		0.00		86,275.00		0.00		0.00		86,275.00
			% Balance		0.00%		0.02%		0.00%		0.00%		0.02%
			# Loans		0		1		0		0		1
			% # Loans		0.00%		0.04%		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		0.00		4,717,943.48		807,794.54		376,361.44		5,902,099.46
			% Balance		0.00%		1.09%		0.19%		0.09%		1.36%
			# Loans		0		30		6		2		38
			% # Loans		0.00%		1.12%		0.22%		0.07%		1.42%










Page 11 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2,611,126.16		1,836,944.82		642,326.50		5,090,397.48
			% Balance				0.61%		0.43%		0.15%		1.18%
			# Loans				13		7		2		22
			% # Loans				0.65%		0.35%		0.10%		1.11%
	FORECLOSURE		Balance		0.00		0.00		0.00		527,027.05		527,027.05
			% Balance		0.00%		0.00%		0.00%		0.12%		0.12%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.10%		0.10%
	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		2,611,126.16		1,836,944.82		1,169,353.55		5,617,424.53
			% Balance		0.00%		0.61%		0.43%		0.27%		1.30%
			# Loans		0		13		7		4		24
			% # Loans		0.00%		0.65%		0.35%		0.20%		1.21%









Page 12 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 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 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 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
11881436 1
11881436 1			264,600.00		263,691.27		01-Jul-2005		7.950%		UT - 90.00%		360		01-Aug-2005

11884418 1			113,000.00		112,670.17		01-Jul-2005		8.750%		MI - 100.00%		360		01-Aug-2005
11883567 2			236,000.00		236,000.00		01-Jul-2005		7.600%		IL - 80.00%		360		01-Aug-2005
11884750 2			292,000.00		291,027.05		01-Jul-2005		8.100%		MD - 80.00%		360		01-Aug-2005


TOTAL			905,600.00		903,388.49


Page 14 of 25
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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										26		39		65
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										26		39		65
Curtailments Amount										295,393.54		18,736.36		314,129.90
Paid in Full Balance										7,356,776.01		7,665,092.93		15,021,868.94
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										7,652,169.55		7,683,829.29		15,335,998.84

Cumulative


Number of Paid in Full Loans										52		66		118
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										52		66		118
Paid in Full Balance										13,308,719.08		13,236,013.62		26,544,732.70
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										4,551,872.37		2,642,722.26		7,194,594.63
Total Prepayment Amount										17,860,591.45		15,878,735.88		33,739,327.33










Page 15 of 25
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Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.74%		1.74%		1.74%
3 Months Avg SMM										1.40%		1.23%		1.31%
12 Months Avg SMM										1.40%		1.23%		1.31%
Avg SMM Since Cut-off										1.40%		1.23%		1.31%


CPR										19.02%		19.01%		19.01%
3 Months Avg CPR										15.54%		13.78%		14.66%
12 Months Avg CPR										15.54%		13.78%		14.66%
Avg CPR Since Cut-off										15.54%		13.78%		14.66%


PSA										2,558.29%		2,589.79%		2,573.98%
3 Months Avg PSA Approximation										2,759.45%		2,497.93%		2,631.02%
12 Months Avg PSA Approximation										2,759.45%		2,497.93%		2,631.02%
Avg PSA Since Cut-off Approximation										2,759.45%		2,497.93%		2,631.02%










Page 16 of 25
Saxon Asset Securities Trust 2005-3

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Mortgage Pass-Through Certificates
2005-3

December 27, 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 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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

11870880 1			87,500.00		87,237.82			28-Nov-2005		7.500%		OH - 93.09%		Paid Off - 360		01-Aug-2005
11870880 1			87,500.00		87,237.82			28-Nov-2005		7.500%		OH - 93.09%		Paid Off - 360		01-Aug-2005
11877009 1			294,000.00		294,000.00			18-Nov-2005		7.550%		NY - 70.00%		Paid Off - 360		01-Aug-2005
11880368 1			236,500.00		236,500.00			15-Dec-2005		6.150%		CA - 73.91%		Paid Off - 360		01-Aug-2005
11880695 1			198,000.00		197,233.57			23-Nov-2005		7.350%		SC - 29.33%		Paid Off - 360		01-Jul-2005
11880987 1			224,000.00		223,098.10			07-Dec-2005		7.150%		MD - 64.93%		Paid Off - 360		01-Jul-2005
11881336 2			159,000.00		158,359.79			29-Nov-2005		7.150%		FL - 60.23%		Paid Off - 360		01-Jul-2005
11881403 2			432,000.00		432,000.00			22-Nov-2005		7.100%		VA - 80.00%		Paid Off - 360		01-Aug-2005
11882489 2			167,000.00		166,509.47			13-Dec-2005		7.600%		MD - 59.64%		Paid Off - 360		01-Aug-2005
11882794 2			331,500.00		330,323.12			23-Nov-2005		6.637%		NY - 89.11%		Paid Off - 360		01-Aug-2005
11882825 1			270,000.00		270,000.00			06-Dec-2005		6.600%		MD - 90.00%		Paid Off - 360		01-Aug-2005
11883196 1			220,000.00		219,999.99			29-Nov-2005		8.000%		FL - 80.00%		Paid Off - 360		01-Aug-2005
11883199 2			163,800.00		163,284.26			18-Nov-2005		7.250%		AZ - 90.00%		Paid Off - 360		01-Aug-2005
11884440 1			104,000.00		103,759.94			06-Dec-2005		7.350%		MD - 48.37%		Paid Off - 360		01-Sep-2005
11884919 2			300,000.00		300,000.00			28-Nov-2005		6.800%		OK - 80.00%		Paid Off - 360		01-Aug-2005
11885003 2			418,000.00		418,000.00			23-Nov-2005		7.417%		MD - 86.19%		Paid Off - 360		01-Sep-2005
11885236 1			148,000.00		147,684.88			13-Dec-2005		9.200%		MI - 80.00%		Paid Off - 360		01-Aug-2005
11885328 1			123,405.00		123,035.19			22-Nov-2005		7.500%		PA - 95.00%		Paid Off - 360		01-Aug-2005
11885412 1			237,500.00		236,694.98			29-Nov-2005		6.875%		MD - 95.00%		Paid Off - 360		01-Aug-2005
11885541 1			198,000.00		198,000.00			21-Nov-2005		7.350%		MD - 90.00%		Paid Off - 360		01-Sep-2005
11885632 1			221,000.00		221,000.00			09-Dec-2005		6.350%		VA - 89.84%		Paid Off - 360		01-Aug-2005
11885646 1			129,600.00		129,127.55			13-Dec-2005		6.500%		GA - 79.51%		Paid Off - 360		01-Aug-2005
11886076 2			135,000.00		134,611.28			07-Dec-2005		7.700%		GA - 90.00%		Paid Off - 360		01-Aug-2005
11886261 1			195,520.00		194,766.19			28-Nov-2005		6.990%		MD - 73.37%		Paid Off - 360		01-Aug-2005
11886678 2			231,200.00		228,250.37			02-Dec-2005		6.975%		MD - 80.00%		Paid Off - 180		01-Aug-2005
11886986 1			133,600.00		133,166.72			01-Dec-2005		7.100%		WI - 80.00%		Paid Off - 360		01-Aug-2005
11887440 2			266,400.00		266,400.00			06-Dec-2005		7.200%		MD - 80.00%		Paid Off - 360		01-Aug-2005
11887541 2			288,000.00		288,000.00			30-Nov-2005		8.150%		CA - 80.00%		Paid Off - 360		01-Aug-2005
11887773 1			189,000.00		189,000.00			05-Dec-2005		7.350%		MD - 90.00%		Paid Off - 360		01-Aug-2005
11888274 1			91,000.00		90,694.08			05-Dec-2005		6.917%		WI - 70.00%		Paid Off - 360		01-Aug-2005
11889020 2			197,400.00		197,400.00			14-Dec-2005		7.700%		AZ - 94.98%		Paid Off - 360		01-Aug-2005
11889073 1			199,000.00		198,315.57			28-Nov-2005		6.800%		MD - 84.68%		Paid Off - 360		01-Aug-2005
11889577 1			304,000.00		303,079.97			23-Nov-2005		7.450%		AZ - 78.96%		Paid Off - 360		01-Aug-2005
11890527 1			94,500.00		94,250.21			05-Dec-2005		8.125%		CA - 70.00%		Paid Off - 360		01-Aug-2005
11890872 2			427,500.00		427,500.00			07-Dec-2005		6.850%		VA - 90.00%		Paid Off - 360		01-Sep-2005
11891580 1			288,500.00		287,884.73			09-Dec-2005		7.750%		CA - 82.43%		Paid Off - 360		01-Sep-2005
11892313 2			133,000.00		132,751.54			12-Dec-2005		8.400%		AZ - 70.00%		Paid Off - 360		01-Sep-2005
11892413 1			108,800.00		108,799.48			01-Dec-2005		7.000%		AZ - 85.00%		Paid Off - 360		01-Sep-2005
11892759 1			157,320.00		156,907.37			13-Dec-2005		6.700%		VA - 92.00%		Paid Off - 360		01-Sep-2005
11893157 1			288,000.00		286,814.41			30-Nov-2005		8.750%		CA - 80.00%		Paid Off - 360		01-May-2005
11893667 2			405,000.00		405,000.00			05-Dec-2005		6.200%		CA - 90.00%		Paid Off - 360		01-Sep-2005
11894939 1			187,500.00		187,444.38			12-Dec-2005		7.100%		VA - 66.96%		Paid Off - 360		01-Sep-2005


Page 18 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 2005 Distribution

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

11896450 2			420,000.00		420,000.00			12-Dec-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Mar-2005
11896450 2			420,000.00		420,000.00			12-Dec-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Mar-2005
11897848 1			330,000.00		330,000.00			28-Nov-2005		7.100%		MD - 72.53%		Paid Off - 360		01-Sep-2005
11897956 1			210,000.00		210,000.00			12-Dec-2005		6.550%		CA - 48.84%		Paid Off - 360		01-Sep-2005
11898169 1			195,000.00		194,712.55			07-Dec-2005		7.550%		MD - 56.20%		Paid Off - 360		01-Oct-2005
11898832 2			405,000.00		405,000.00			06-Dec-2005		7.100%		CA - 75.00%		Paid Off - 360		01-Sep-2005
11899994 1			84,000.00		83,854.46			30-Nov-2005		8.767%		GA - 75.00%		Paid Off - 360		01-Sep-2005
11900530 2			161,032.00		160,792.23			21-Nov-2005		7.500%		AZ - 80.00%		Paid Off - 360		01-Oct-2005
11900560 2			185,000.00		185,000.00			22-Nov-2005		7.100%		IL - 56.57%		Paid Off - 360		01-Oct-2005
11901734 2			160,000.00		159,696.92			01-Dec-2005		7.300%		MD - 86.49%		Paid Off - 360		01-Oct-2005
11902047 2			345,000.00		345,000.00			30-Nov-2005		8.150%		IL - 100.00%		Paid Off - 360		01-Oct-2005
11902698 2			136,000.00		135,897.03			28-Nov-2005		7.400%		MD - 80.00%		Paid Off - 360		01-Nov-2005
11903516 2			187,000.00		187,000.00			06-Dec-2005		5.990%		MD - 85.00%		Paid Off - 360		01-Oct-2005
11903866 1			245,000.00		245,000.00			15-Dec-2005		6.650%		MD - 77.78%		Paid Off - 360		01-Oct-2005
11903912 1			168,000.00		167,943.32			09-Dec-2005		7.430%		FL - 68.07%		Paid Off - 360		01-Nov-2005
11905066 1			312,639.00		312,566.86			13-Dec-2005		8.740%		CA - 92.70%		Paid Off - 360		01-Nov-2005
11905730 1			205,000.00		204,677.65			05-Dec-2005		7.250%		CA - 57.75%		Paid Off - 360		01-Oct-2005
11906196 2			408,000.00		408,000.00			12-Dec-2005		7.500%		CA - 81.60%		Paid Off - 360		01-Sep-2005
11906527 2			344,000.00		344,000.00			29-Nov-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Oct-2005
11906681 1			187,000.00		186,758.24			30-Nov-2005		8.200%		IL - 85.00%		Paid Off - 360		01-Oct-2005
11909355 1			252,000.00		251,832.47			29-Nov-2005		7.650%		MD - 93.51%		Paid Off - 360		01-Oct-2005
11911493 1			148,000.00		147,913.66			30-Nov-2005		8.683%		WI - 80.00%		Paid Off - 360		01-Nov-2005
11913908 2			558,000.00		558,000.00			02-Dec-2005		8.150%		CA - 90.00%		Paid Off - 360		01-Nov-2005
11915062 1			109,500.00		109,338.59			01-Dec-2005		7.550%		GA - 75.00%		Paid Off - 360		01-Oct-2005
11915550 1			302,000.00		302,000.00			23-Nov-2005		8.300%		AZ - 84.95%		Paid Off - 360		01-Nov-2005


TOTAL			15,040,216.00		15,021,868.94
TOTAL


Page 19 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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 20 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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 21 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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 22 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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 23 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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								4,190,454.35
						Ending Collateral Balance								865,034,686.99
						Delinquency Percentage								0.4800%

						Senior Enhancement Percentage								20.921716%

						Cumulative Loss Percentage								0.00000000%


ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK



Page 24 of 25
Saxon Asset Securities Trust 2005-3

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

December 27, 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
			B-3										#######		$0.00
													#######		$0.00
			B-4										#######		$0.00
													#######		$0.00






Page 25 of 25

Saxon Asset Securities Trust 2005-3 8-K