SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

 

                                    FORM 10-K

[X]      Annual  report  pursuant  to  Section  13 or  15(d)  of the Securities

         Exchange Act of 1934 for the fiscal year ended December 31, 2000

 

[ ]      Transition report pursuant to Section 13 or 15(d) of the

         Securities Exchange Act of 1934 for the transition period from   to

 

                        Commission File Number 333-59479-06

                       Saxon Asset Securities Trust 2000-1

             Mortgage Loan Asset Backed Certificates, Series 2000-1

             (Exact name of registrant as specified in its charter)

         Virginia                                              52-1785164

(State or other jurisdiction of                           I.R.S. Employer

incorporation or organization)                            Identification No.)

                    4880 Cox Road, Glen Allen, Virginia 23060

               (Address of principal executive offices) (Zip Code)

Registrants telephone number, including area code : (804) 967-7400

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark whether the registrant (1) has filed all reports required

to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during

the  preceding 12 months (or for such  shorter  period that the  registrant  was

required  to file  such  reports),  and  (2) has  been  subject  to such  filing

requirements for the past 90 days. Yes[X] No [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 

405 of Regulation  S-K is not contained herein,  and will not be  contained,

to the best of  registrant's  knowledge,  in definitive  proxy or  information

statements incorporated by reference in Part III of this Form 10-K or any

 amendment to this Form 10-K.  [X]

Documents incorporated by reference:  None

 

<PAGE>

                      SAXON ASSET SECURITIES TRUST 2000-1

                               TABLE OF CONTENTS

PART I

Item  1. Business

Item  2. Properties

Item  3. Legal Proceedings

Item  4. Submission of Matters to a Vote of Security Holders

PART II

Item  5. Market for Registrant's Common Equity and Related Stockholder Matters

Item  6. Selected Financial Data

Item  7. Management's Discussion and Analysis of Financial Condition and 

           Results of Operations

Item  8. Financial Statements and Supplementary Data

Item  9. Changes in and Disagreements with Accountants on Accounting and 

           Financial Disclosure

PART III

Item 10. Directors and Executive Officers of the Registrant

Item 11. Executive Compensation

Item 12. Security Ownership of Certain Beneficial Owners and Management

Item 13. Certain Relationships and Related Transactions

PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K

SIGNATURE

Supplemental Information to be Furnished with Reports Filed Pursuant to Section

  15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant

  of Section 12 of the Act

INDEX TO EXHIBITS

                                     -2-

<PAGE>

This Annual Report on Form 10-K is filed in accordance with a letter dated March

13, 1997 sent to the Office of Chief Counsel,  Division of Corporate  Finance of

the Securities and Exchange  Commission (the  "Commission")  requesting that the

Commission  enter an order pursuant to Section 12(h) of the Securities  Exchange

Act of 1934 (the  "Exchange  Act"),  granting  exemption  for the Trust from the

reporting  requirements  of Section 13 and 15(d), or issue a no action letter to

like effect.  Accordingly,  responses to certain Items have been omitted from or

modified in this Annual Report on Form 10-K.

 

PART I

Item 1.  Business

         Omitted.

Item 2.  Properties

         Omitted.

Item 3.  Legal Proceedings

     The Registrant is not aware of any material legal  proceeding  with respect

to, the Company, the Master Servicer or the Trustee, as related to the Trust.

Item 4.  Submission of Matters to a Vote of Security Holders

     No matter was  submitted  to a vote or  consent  of Holders of the  Offered

Certificates during the fiscal year covered by this report.

 

PART II

Item 5.  Market for Registrant's Common Equity and Related Stockholder Matters

         The Trust does not issue stock.

     As of  December 31, 2000, the  number of  holders of each Class of Offered

Certificates was as follows:

          Class AF-1    	18   

          Class AF-2    	15   

          Class AF-3    	15   

          Class AF-4    	3   

          Class AF-5    	3   

          Class AF-6    	3   

          Class MF-1    	3   

          Class MF-2   	3   

          Class BF-1    	2   

          Class BF-1A	5	

          Class AV-1    	7 

          Class MV-1   	3 

          Class MV-2   	3 

          Class BV-1    	2 

          Class BV-1A	1	

Item 6.  Selected Financial Data

         Omitted.

Item 7.  Management's Discussion and Analysis of Financial condition and

         Results of Operations

         Omitted.

Item 8.  Financial Statements and Supplementary Data

         Omitted.

Item 9.  Changes in and Disagreements with Accountants on Accounting and 

         Financial Disclosure

     There was no change of accountants or disagreement  with accountants on any

matter of accounting principles or practices or financial disclosure.

                                      -3-

<PAGE>

PART III

Item 10. Directors and Executive Officers of the Registrant

         Omitted.

Item 11. Executive Compensation

         Omitted.

Item 12. Security Ownership of Certain Beneficial Owners and Management

     The  following  entities  own  more  than  5% of  the  specified  Class  of

Certificates. These positions are held through the Depository Trust Company. The

Master  Servicer  has not  been  advised  that any  such  DTC  participants  are

beneficial owners.

         Class AF-1     	Bankers Trust Company

          			Chase Manhattan Bank, Trust

                         		Citibank, N.A.

			State Street Bank & Trust Company

			Suntrust Bank

         Class AF-2     	The Bank of New York

                         		Bankers Trust Company                         

			Boston Safe Deposit and Trust Company

         Class AF-3     	Bankers Trust Company                        

			Chase Manhattan Bank			 

			Deutsche Banc Alex. Brown Inc.			 

			Southtrust Bank		 

         Class AF-4     	Banc of America Securities LLC

                         		Chase Manhattan Bank

         Class AF-5     	The Bank of New York

                         		Bankers Trust Company 

                         		Chase Manhattan Bank

         Class AF-6     	The Bank of New York

                         		Chase Manhattan Bank

                         		Citibank, N.A.

         Class MF-1     	Boston Safe Deposit and Trust Company 

                         		Chase Manhattan Bank

			Citibank, N.A.

         Class MF-2     	The Bank of New York

			Chase Manhattan Bank

			Citibank, N.A.			 

         Class BF-1     	The Bank of New York

			Boston Safe Deposit and Trust Company

         Class BF-1A	The Bank of New York

			Bankers Trust Company 

	  	 	Investors Bank & Trust Company

			U.S. Bank National Association

         Class AV-1     	The Bank of New York                          

			Bankers Trust Company

			Chase Manhattan Bank		                          

         Class MV-1     	The Bank of New York

			Bankers Trust Company

			Chase Manhattan Bank				 

         Class MV-2     	The Bank of New York

                         		Bankers Trust Company

			Chase Manhattan Bank

         Class BV-1     	The Bank of New York

			Bankers Trust Company			 

         Class BV-1A    	Brown Brothers Harriman & Co. 

	       

Item 13. Certain Relationships and Related Transactions

         No reportable transactions have occurred.

PART IV

Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K

(a) The following documents are filed as part of this report:

    (1) Financial Statements:

         Omitted.

    (2)  Financial Statement Schedules:

         Omitted.

    (3)  Listed below are the documents filed as a part of this report:

         Exhibit Number

         --------------

          99.1  Annual Statement of Compliance by Master Servicer

          99.2  Annual Certificate of Compliance

          99.3  Annual Statement of Independent Accountants

          99.4  Annual Compilation of Selected Financial Information

(b)   Reports on Form 8-K: The  following  Current  Reports on Form 8-K were 

      filed by the  Registrant  during the last quarter of 2000.

     Current  Reports on Form 8-K,  dated  December  26,  2000 was filed for the

purpose of filing  the  Monthly  Statement  sent to the  Holders of the  Offered

Certificates  for payments  made on the same dates.  The items  reported in such

Current Report were Item 5 (Other Events).

(c)   Exhibits to this report are listed in Item (14)(a)(3) above.

                                      -4-

<PAGE>

 

SIGNATURE

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange

Act of 1934,  the  registrant  has duly  caused  this report to be signed on its

behalf by the undersigned thereunto duly authorized.

                                       Saxon Asset Securities Trust 2000-1

                                       Mortgage Loan Asset Backed Certificates

                                       2000-1

 

Date:  March 31, 2001           By:   /s/ Bradley D. Adams

                                      ---------------

                                      Bradley D. Adams

                                      Sr. Vice President

 

                                      -5-

<PAGE>

 

SUPPLEMENTAL  INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION

15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO

SECTION 12 OF THE ACT.

The  registrant  has not sent an annual report or proxy material to its security

holders.  The registrant  will not be sending an annual report or proxy material

to its security holders subsequent to the filing of this form.

                                      -6-

<PAGE>

                               INDEX TO EXHIBITS

Exhibit

Number                     Description of Exhibits                     Page

- ----------------------------------------------------------------

 99.1  Annual Statement of Compliance by Master Servicer

 99.2  Annual Certificate of Compliance

 99.3  Annual Statement of Independent Accountants                    

 99.4  Annual Compilation of Selected Financial Information

 

                                      -7-

<PAGE>

EXHIBIT 99.1

Annual Statement of Compliance by Master Servicer

				

					Annual Statement of Compliance

						For

				Trust Agreement, dated as of February 1, 2000

			Mortgage Loan Asset Backed Certificates, Series 2000-1

 

	I, Joan M. Dolce, Hereby certify that I am duly elected as

	Vice President of Saxon Mortgage, Inc., a Virginia corporation 

	(Saxon) and further certify that:

(1)	I have reviewed the activities of the Master Servicer during the

	preceding calendar year or portion thereof and its performance under 

	the Trust Agreement, and

(2)	To the best of my knowledge, based on such review, the Master 

	Servicer has performed and fulfilled its duties, responsibilities 

	under the Trust Agreement in all material respects throughout 

	such year, or, if there has been a default in the fulfillment 

	of any such duties, responsibilities or obligations, specifying 

	each such default known to me and the nature and status thereof, and

(3)(A)	I have conducted an examination (based solely on information and 

	written reports furnished by each Servicer to me) of the activities 

	of each Servicer during the preceding calendar year and the performance 

	of such Servicer under the related Servicing Agreement, and

(3)(B)	I have examined each Servicers Fidelity Bond and Errors and 

	Omissions Policy and each such bond or policy is in effect and 

	conforms to the requirements of the related Servicing 

	Agreement, and

(3)(C)	I have received from each Servicer such Servicers annual audited 

	financial statements and such other information as is required by 

	the Guide, and

(3)(D)	To the best of my knowledge, based on such examination, each 

	Servicer has performed and fulfilled its duties, responsibilities 

	and obligations under its Servicing Agreement in all material 

	respects throughout such year, or, if there has been a default 

	in the performance or fulfillment of any such duties, 

	responsibilities or obligations, specifying each such default known 

	to me and the nature and status thereof.

Sincerely,

/s/ Joan M. Dolce

Joan M. Dolce

Vice President

                                      -8-

<PAGE>

EXHIBIT 99.2

Annual Certificate of Compliance

Dear Master Servicer:

The undersigned officer certifies the following for the 2000 fiscal year:

(a) I have reviewed the activities and performance of the Servicer during 

the preceding fiscal year under the terms of the Servicing Agreement, 

Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer 

Guide.  To the best of this Officers knowledge, the Servicer has fulfilled 

all of its duties, responsibilities or obligations under these Agreements 

throughout such year.  If there has been a default or failure of the 

Servicer to perform any of such duties, responsibilities or obligations 

a description of each default or failure and the nature and status. 

(b) I have confirmed that the Servicer is currently an approved FNMA or 

FHLMC Servicer in good standing:

(c) I have confirmed that the Fidelity Bond, the Errors and Omissions 

Insurance Policy and any other bonds required under the terms of the 

Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement 

and/or Seller/Servicer Guide are in full force and effect;

(d) All premiums for each Hazard Insurance Policy, Flood Insurance 

Policy (if applicable) and Primary Mortgage Insurance Policy 

(if applicable), with respect to each Mortgaged Property, have been 

paid and that all such insurance policies are in full force 

and effect;

(e) All real estate taxes, governmental assessments and any other 

expenses accrued and due, that if not paid could result in a lien 

or encumbrance on any Mortgaged Property, have been paid, or if any 

such costs or expenses have not been paid with respect to any Mortgaged 

Property, the reason for the non-payment has been reported.

(f) All Custodial Accounts have been reconciled and are properly funded.

(g) All annual reports of Foreclosure and Abandonment of Mortgage 

Property required per section 6050j/6050p of the Internal Revenue 

Code, respectively, have been prepared and filed.

 

Certified By:

 

/s/ Robert Berg

___________________

Robert Berg

Senior Vice President and Controller

Investor Reporting and Compliance

March 26, 2001

                                      -9-

<PAGE>

 

EXHIBIT 99.3

Annual Statement of Independent Accountants                    

 

March 16, 2001

 

 

As of and for the year ended December 31, 2000 except as described below, 

Meritech Mortgage Services, Inc. (the "Company") has complied in all 

material respects with the minimum servicing standards set forth in the 

Mortgage Bankers Association of America's Uniform Single Attestation 

Program for Mortgage Bankers except for the following:

i) The Company's process for disbursing funds held in escrow after loan 

payoff is automated which is designed to meet the thirty-day disbursement 

requirement.  If transactions are posted to the loan after the payoff 

date but before the thirty-day disbursement time period, those transactions 

are processed manually and may not be disbursed to borrowers within 30 

days of loan payoff.

ii) The Company did not adequately reconcile and review certain bank 

account reconciliations in the months of June and October within 45 days, 

which caused several reconciling items to be included that were older 

than 90 days.    

As of and for this same period, the Company had in effect a fidelity 

bond and errors and omissions policy in the amount of $25 million and 

$10 million, respectively.  

 

/s/ Dennis Stowe

_______________________________		

Dennis Stowe					

President, Meritech Mortgage Services, Inc.	

 

                                      -10-

<PAGE>

 

EXHIBIT 99.4

Annual Compilation of Selected Financial Information

===================================

Saxon Asset Securities Trust 2000-1

===================================

(1)   2000 annual distribution with respect to the holder's Certificates 

      based on original principal amount of $1,000

<TABLE>

<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                  	Principal                Interest                 Total                       Original

    Total   Class AF-1       28,098,175.01     5,600,068.57       33,698,243.58         100,000,000.00

               Class AF-2                       0.00     2,698,500.00          2,698,500.00           42,000,000.00

               Class AF-3                       0.00     2,585,000.00          2,585,000.00           40,000,000.00

               Class AF-4                       0.00     2,018,750.00          2,018,750.00           30,000,000.00

               Class AF-5                       0.00     1,516,631.42          1,516,631.42           21,914,000.00

               Class AF-6                       0.00     1,734,416.67          1,734,416.67           26,000,000.00

               Class MF-1                      0.00     1,068,685.92          1,068,685.92           15,386,000.00

               Class MF-2                      0.00        760,746.75             760,746.75           10,457,000.00

               Class BF-1                       0.00        729,072.00             729,072.00             8,964,000.00

	 Class BF-1A      3,021,095.51        201,188.92          3,222,284.43	    4,034,000.00	

               Class AV-1        6,833,906.53     6,758,448.16        23,592,354.69         128,000,000.00

               Class MV-1                     0.00         783,542.81             783,542.81           13,600,000.00

               Class MV-2                     0.00         608,742.75             608,742.75           10,000,000.00

               Class BV-1                      0.00         365,676.12             365,676.12             5,200,000.00	       

	 Class BV-1A     2,346,832.44         154,759.69          2,501,592.13	    3,200,000.00	

 

 Per $1,000    	Class AF-1                280.9818          56.0007       336.9824

               	Class AF-2                    0.0000          64.2500         64.2500

               	Class AF-3                    0.0000          64.6250         64.6250 

               	Class AF-4                    0.0000          67.2917         67.2917

               	Class AF-5                    0.0000          69.2083         69.2083

               	Class AF-6                    0.0000          66.7083         66.7083

               	Class MF-1                    0.0000         69.4583         69.4583

               	Class MF-2                   0.0000          72.7500         72.7500

               	Class BF-1                    0.0000          81.3333         81.3333

		Class BF-1A	     748.9082	 49.8733	       798.7815	

               	Class AV-1               131.5149          52.8004       184.3153

               	Class MV-1                  0.0000          57.6134         57.6134

              		Class MV-2                  0.0000          60.8743         60.8743

               	Class BV-1                   0.0000          70.3223         70.3223

	       	Class BV-1A	     733.3851 	 48.3624	       781.7475	    		     

	

                                                                                                ----------------------------------------

                                                                                                  Group I                   Group II

                                                                                                ----------------------------------------

(2)  Prepayments                                                                     26,055,956.81         16,025,320.70

       Extra Principal Distribution Amount                                    163,667.19              106,214.35

(3)  Distributions less than the Required Distribution                                  -                              -

(4)  Insured Payment                                                                                     -                              -

(5)  Certificate principal Balance @ 12/31/00

              Class AF-1	$71,901,824.99

	Class AF-2           $42,000,000.00   

              Class AF-3           $40,000,000.00    

              Class AF-4           $30,000,000.00    

              Class AF-5           $21,914,000.00    

              Class AF-6           $26,000,000.00    

              Class MF-1          $15,386,000.00    

              Class MF-2          $10,457,000.00    

              Class BF-1             $8,964,000.00    

              Class BF-1A	  $1,012,904.48

	Class AV-1        $111,166,093.47

	Class MV-1         $13,600,000.00   

              Class MV-2          $10,000,000.00   

              Class BV-1             $5,200,000.00   

              Class BV-1A             $853,167.56

     Scheduled Principal Balance of Each Group at 12/31/00               270,659,543.55 	143,167,045.01

(6)  Substitution Shortfalls                                                                    		 -     		        -

(7)  Weighted Average Net Rate of Mortgage Loans                                  9.85056%                   9.65013%

(8)  Largest mortgage loan balance outstanding                                        497,220.56                  874,287.34

(9)  Servicing Fees                                                                                      115,992.20                    60,373.16

     Master Servicing Fees                                                                             11,392.86                      6,037.30

(10) Index value for Variable Rate Certificates @ 12/31/00           6.62%

(11) Pass-through rates for Variable Rate Certificates               9.17%