Exhibit 99.4

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of
Saxon Capital, Inc.

We have examined management's assertion that Saxon Mortgage Services, Inc. (the
"Company") has complied as of and for the year ended December 31, 2005, with its
established minimum servicing standards described in the accompanying
Management's Assertion dated February 28, 2006. Management is responsible for
the Company's compliance with those minimum servicing standards. Our
responsibility is to express an opinion on management's assertion about the
Company's compliance based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants, as
adopted by the Public Company Accounting Oversight Board and accordingly,
included examining, on a test basis, evidence about the Company's compliance
with its minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Company's compliance with its minimum servicing
standards.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2005, is fairly stated, in all material respects based on the criteria set
forth in Appendix I.

/s/ Deloitte & Touche LLP

February 28, 2006


 <PAGE>

Management's Assertion

As of and for the year ended December 31, 2005, Saxon Mortgage Services, Inc.
(the "Company") has complied, in all material respects, with the Company's
established minimum servicing standards for residential mortgage loans as set
forth in Appendix I (the "Standards"). The Standards are based on the Mortgage
Banker's Association of America's Uniform Single Attestation Program for
Mortgage Bankers.

As of and for this same period, the Company had in effect a fidelity bond in the
form of a Form 15 Financial Institutions Bond with an aggregate coverage amount
of $32 million, and an errors and omissions policy in the form of a Mortgagee
Protection Policy with mortgagee interest coverage of $20 million and mortgagee
liability coverage of $10 million.

/s/ Michael L. Sawyer
---------------------
(Michael L. Sawyer, Chief Executive Officer)

/s/ David Dill
--------------
(David Dill, President, Saxon Mortgage Services, Inc.)

February 28, 2006


<PAGE>


APPENDIX I

MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF
AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS

I. CUSTODIAL BANK ACCOUNTS

1.    Reconciliations shall be prepared on a monthly basis for all custodial
      bank accounts and related bank clearing accounts. These reconciliations
      shall:

      o     Be mathematically accurate

      o     Be prepared within forty-five (45) calendar days after the cutoff
            date

      o     Be reviewed and approved by someone other than the person who
            prepared the reconciliation

      o     Document explanations for reconciling items. These reconciling items
            shall be resolved within ninety (90) calendar days of their original
            identification.

2.    Funds of the servicing entity shall be advanced in cases where there is an
      overdraft in an investor's or a mortgagor's account.

3.    Each custodial account shall be maintained at a federally insured
      depository institution in trust for the applicable investor.

4.    Escrow funds held in trust for a mortgagor shall be returned to the
      mortgagor within thirty (30) calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

1.    Mortgage payments shall be deposited into the custodial bank accounts and
      related bank clearing accounts within two business days of receipt.

2.    Mortgage payments made in accordance with the mortgagor's loan documents
      shall be posted to the applicable mortgagor records within two business
      days of receipt.

3.    Mortgage payments shall be allocated to principal, interest, insurance,
      taxes, or other escrow items in accordance with the mortgagor's loan
      documents.

4.    Mortgage payments identified as loan payoffs shall be allocated in
      accordance with the mortgagor's loan documents.

<PAGE>

III. DISBURSEMENTS

1.    Disbursements made via wire transfer on behalf of a mortgagor or investor
      shall be made only by authorized personnel.

2.    Disbursements made on behalf of a mortgagor or investor shall be posted
      within two business days to the mortgagor's or investor's records
      maintained by the servicing entity.

3.    Tax and insurance payments shall be made on or before the penalty or
      insurance policy expiration dates, as indicated on tax bills and insurance
      premium notices, respectively, provided that such support has been
      received by the servicing entity at least thirty (30) calendar days prior
      to these dates.

4.    Any late payment penalties paid in conjunction with the payment of any tax
      bill or insurance premium notice shall be paid from the servicing entity's
      funds and not charged to the mortgagor, unless the late payment was due to
      the mortgagor's error or omission.

5.    Amounts remitted to investors per the servicer's investor reports shall
      agree with cancelled checks, or other form of payment, or custodial bank
      statements.

6.    Unused checks shall be safeguarded so as to prevent unauthorized access.

IV. INVESTOR ACCOUNTING AND REPORTING

1.    The servicing entity's investor reports shall agree with, or reconcile to,
      investors' records on a monthly basis as to the total unpaid principal
      balance and number of loans serviced by the servicing entity.

V. MORTGAGOR LOAN ACCOUNTING

1.    The servicing entity's mortgage loan records shall agree with, or
      reconcile to, the records of mortgagors with respect to the unpaid
      principal balance on a monthly basis.

2.    Adjustments on ARM loans shall be computed based on the related mortgage
      note and any ARM rider.

3.    Escrow accounts shall be analyzed, in accordance with the mortgagor's loan
      documents, on at least an annual basis.

4.    Interest on escrow accounts shall be paid, or credited, to mortgagors in
      accordance with the applicable state laws.

<PAGE>

VI. DELINQUENCIES

1.    Records documenting collection efforts shall be maintained during the
      period a loan is in default and shall be updated at least monthly. Such
      records shall describe the entity's activities in monitoring delinquent
      loans including, for example, phone calls, letters, and mortgage payment
      rescheduling plans in cases where the delinquency is deemed temporary
      (e.g., illness or unemployment).

VII. INSURANCE POLICIES

1.    A fidelity bond and errors and omissions policy shall be in effect on the
      servicing entity throughout the reporting period in the amount of coverage
      represented to investors in management's assertion.



<PAGE>

Exhibit 99.5

Management's Assertion

As of and for the year ended December 31, 2005, Saxon Mortgage Services, Inc.
(the "Company") has complied, in all material respects, with the Company's
established minimum servicing standards for residential mortgage loans as set
forth in Appendix I (the "Standards"). The Standards are based on the Mortgage
Banker's Association of America's Uniform Single Attestation Program for
Mortgage Bankers.

As of and for this same period, the Company had in effect a fidelity bond in the
form of a Form 15 Financial Institutions Bond with an aggregate coverage amount
of $32 million, and an errors and omissions policy in the form of a Mortgagee
Protection Policy with mortgagee interest coverage of $20 million and mortgagee
liability coverage of $10 million.

/s/ Michael L. Sawyer
---------------------
(Michael L. Sawyer, Chief Executive Officer)

/s/ David Dill
--------------
(David Dill, President, Saxon Mortgage Services, Inc.)

February 28, 2006



<PAGE>

APPENDIX I

MINIMUM SERVICING STANDARDS AS SET FORTH IN THE MORTGAGE BANKERS ASSOCIATION OF
AMERICA'S UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS

I. CUSTODIAL BANK ACCOUNTS

1.    Reconciliations shall be prepared on a monthly basis for all custodial
      bank accounts and related bank clearing accounts. These reconciliations
      shall:

      o     Be mathematically accurate

      o     Be prepared within forty-five (45) calendar days after the cutoff
            date

      o     Be reviewed and approved by someone other than the person who
            prepared the reconciliation

      o     Document explanations for reconciling items. These reconciling items
            shall be resolved within ninety (90) calendar days of their original
            identification.

2.    Funds of the servicing entity shall be advanced in cases where there is an
      overdraft in an investor's or a mortgagor's account.

3.    Each custodial account shall be maintained at a federally insured
      depository institution in trust for the applicable investor.

4.    Escrow funds held in trust for a mortgagor shall be returned to the
      mortgagor within thirty (30) calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

1.    Mortgage payments shall be deposited into the custodial bank accounts and
      related bank clearing accounts within two business days of receipt.

2.    Mortgage payments made in accordance with the mortgagor's loan documents
      shall be posted to the applicable mortgagor records within two business
      days of receipt.

3.    Mortgage payments shall be allocated to principal, interest, insurance,
      taxes, or other escrow items in accordance with the mortgagor's loan
      documents.

4.    Mortgage payments identified as loan payoffs shall be allocated in
      accordance with the mortgagor's loan documents.

<PAGE>

III. DISBURSEMENTS

1.    Disbursements made via wire transfer on behalf of a mortgagor or investor
      shall be made only by authorized personnel.

2.    Disbursements made on behalf of a mortgagor or investor shall be posted
      within two business days to the mortgagor's or investor's records
      maintained by the servicing entity.

3.    Tax and insurance payments shall be made on or before the penalty or
      insurance policy expiration dates, as indicated on tax bills and insurance
      premium notices, respectively, provided that such support has been
      received by the servicing entity at least thirty (30) calendar days prior
      to these dates.

4.    Any late payment penalties paid in conjunction with the payment of any tax
      bill or insurance premium notice shall be paid from the servicing entity's
      funds and not charged to the mortgagor, unless the late payment was due to
      the mortgagor's error or omission.

5.    Amounts remitted to investors per the servicer's investor reports shall
      agree with cancelled checks, or other form of payment, or custodial bank
      statements.

6.    Unused checks shall be safeguarded so as to prevent unauthorized access.

IV. INVESTOR ACCOUNTING AND REPORTING

1.    The servicing entity's investor reports shall agree with, or reconcile to,
      investors' records on a monthly basis as to the total unpaid principal
      balance and number of loans serviced by the servicing entity.

V. MORTGAGOR LOAN ACCOUNTING

1.    The servicing entity's mortgage loan records shall agree with, or
      reconcile to, the records of mortgagors with respect to the unpaid
      principal balance on a monthly basis.

2.    Adjustments on ARM loans shall be computed based on the related mortgage
      note and any ARM rider.

3.    Escrow accounts shall be analyzed, in accordance with the mortgagor's loan
      documents, on at least an annual basis.

4.    Interest on escrow accounts shall be paid, or credited, to mortgagors in
      accordance with the applicable state laws.

<PAGE>

VI. DELINQUENCIES

1.    Records documenting collection efforts shall be maintained during the
      period a loan is in default and shall be updated at least monthly. Such
      records shall describe the entity's activities in monitoring delinquent
      loans including, for example, phone calls, letters, and mortgage payment
      rescheduling plans in cases where the delinquency is deemed temporary
      (e.g., illness or unemployment).

VII. INSURANCE POLICIES

1.    A fidelity bond and errors and omissions policy shall be in effect on the
      servicing entity throughout the reporting period in the amount of coverage
      represented to investors in management's assertion.