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)

~~January~~March 2524, 2005

SAXON ASSET SECURITIES COMPANY (as Depositor under the Trust Agreement, dated as of January 1, 2005 and the Sale and Servicing Agreement, dated as of January 1, 2005, providing for the issuance of Mortgage Loan Asset Backed Notes, Series 2005-1)

Saxon Asset Securities Company

(Exact Name of Registrant as Specified in its Charter)

Virginia	333-111832	52-1865887
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
4860 Cox Road Glen Allen, Virginia		23060
(Address of Principal Executive Offices)		(Zip Code)

4860 Cox Road

Glen Allen, Virginia

23060

(Address of Principal Executive Offices)

(Zip Code)

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

~~No Change~~ None

(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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] 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

The Registrant registered issuances of Mortgage Loan Asset Backed Notes, Series 2005-1 on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by Registration Statement on Form S-3 (Registration File No. 333-111832) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $1,000,000,000 in aggregate principal amount of Class A-1, Class A-2A, Class A-2B, Class A-2C, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2 and Class B-3 Notes (the “Notes”) of its Mortgage Loan Asset Backed Notes, Series 2005-1 and one class of trust certificates (the “Trust Certificates” and, together with the Notes, the “Securities”) on January 25, 2005. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the ~~definitive~~ Prospectus, dated October 21, 2004, as supplemented by the Prospectus Supplement, dated January 21, 2005 (the “Prospectus Supplement”), to file ainformation ~~copy~~relating ofto ~~the~~subsequent ~~Trust~~mortgage ~~Agreement,~~loans ~~Indenture and Sale and Servicing Agreement~~ (~~each~~the as“Subsequent ~~defined~~Mortgage ~~below~~Loans”) ~~and~~purchased ~~other~~by ~~operative agreements executed in connection with~~ the ~~issuance of the Securities~~Registrant.

~~The~~Pursuant ~~Trust Certificates were issued pursuant~~ to athe ~~Trust~~Subsequent Sales Agreement (the “~~Trust~~Subsequent Sales Agreement”), attached ~~hereto~~ as Exhibit 499.21, dated asMarch ~~of January 1~~24, 2005, ~~among~~between Saxon ~~Asset~~Funding ~~Securities Company~~Management, asInc. ~~depositor~~ (~~the~~ “~~Depositor~~SFM”), ~~Wilmington~~and ~~Trust~~Saxon ~~Company,~~Asset asSecurities ~~owner~~Company ~~trustee~~(“Saxon”), and acknowledged by Deutsche Bank Trust Company Americas, ~~as administrator. The Notes were issued pursuant to an Indenture~~ (the “Indenture Trustee”), ~~attached~~the ~~hereto~~Registrant aspurchased ~~Exhibit~~Subsequent ~~4.3,~~Mortgage ~~dated~~Loans asfor ofinclusion ~~January~~in 1,the ~~2005,~~Trust ~~between~~Estate of Saxon Asset Securities Trust 2005-1 (the “Issuer”) ~~and~~pursuant ~~Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”). The Securities are subject~~ to ~~a Sale and Servicing Agreement (~~the “Sale and Servicing Agreement”), ~~attached hereto as Exhibit 4.4,~~ dated as of January 1, 2005, ~~among~~ (the ~~Issuer,~~“Sale ~~the~~and ~~Depositor~~Servicing Agreement”), among the ~~Indenture Trustee~~Issuer, Saxon ~~Funding~~as ~~Management~~depositor, ~~Inc.~~SFM, as master servicer, ~~and~~ Saxon Mortgage Services, Inc., as servicer~~. The~~, ~~Notes~~and ~~are secured by~~ the ~~assets~~Indenture ofTrustee, a ~~trust~~form ~~fund (the “Trust Fund”) that consists primarily~~ of awhich ~~pool~~was offiled ~~certain~~as ~~conventional,~~an ~~first~~exhibit ~~and~~to ~~second lien, fixed and adjustable rate, fully amortizing and balloon, residential mortgage loans (~~the ~~“Mortgage~~Registrant’s ~~Loans”)~~Form ~~with~~8-K anfiled ~~aggregate~~on ~~outstanding~~February ~~principal balance of approximately $781~~8,~~730,479.75~~ ~~as of January 1,~~ 2005~~, together with certain other assets~~. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Sale and Servicing Agreement and in the Subsequent Sales Agreement, as applicable.

Item 9.01. Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

499.~~2 Trust~~1 Subsequent Sales Agreement, dated asMarch ~~of January 1~~24, 2005, between ~~among~~ Saxon ~~Asset~~Funding ~~Securities Company~~Management, asInc. ~~depositor,~~and ~~Wilmington~~Saxon ~~Trust~~Asset Securities Company, asand ~~owner~~acknowledged ~~trustee~~by ~~and~~ Deutsche Bank Trust Company Americas, as ~~administrator~~Indenture Trustee.

4.3 Indenture, dated as of January 1, 2005, between Saxon Asset Securities Trust 2005-1, as issuer, and Deutsche Bank Trust Company Americas, as indenture trustee.

4.4 Sale and Servicing Agreement, dated as of January 1, 2005, between Saxon Asset Securities Trust 2005-1, as issuer, Deutsche Bank Trust Company Americas, as indenture trustee, Saxon Asset Securities Company, as depositor, Saxon Funding Management, Inc., as master servicer and Saxon Mortgage Services, Inc., as servicer.

4.5 Administration Agreement, dated as of January 1, 2005, between Saxon Asset Securities Trust 2005-1, as issuer, Deutsche Bank Trust Company Americas, as administrator, Wilmington Trust Company, as owner trustee, and Saxon Asset Securities Company, as depositor.

SIGNATURES

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

SAXON ASSET SECURITIES COMPANY

By: /s/ Ernest G. Bretana

Name: Ernest G. Bretana

Title: Vice President

Dated: ~~February~~ March 824, 2005

EXHIBIT INDEX

Exhibit No. Description Page No.

499.~~2 Trust~~1 Subsequent Sales Agreement, dated asMarch ~~of January 1~~24, 2005, between ~~among~~ Saxon ~~Asset~~Funding ~~Securities Company~~Management, asInc. ~~depositor,~~and ~~Wilmington~~Saxon Asset ~~Trust~~Securities Company, ~~as owner trustee~~ and acknowledged by Deutsche Bank Trust Company Americas, as ~~administrator~~Indenture Trustee.

4.3 Indenture, dated as of January 1, 2005, between Saxon Asset Securities Trust 2005-1, as issuer, and Deutsche Bank Trust Company Americas, as indenture trustee.

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