Item 1. Business
Omitted.
Item 2.
Item 2. Properties
Omitted.
Item 3.
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.
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.
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Trust does not issue stock.
As of December 31, 1998, the number of holders of each Class of Offered Certificates was as follows:
Class AF-1 4 Class AF-2 4 Class AF-3 7 Class AF-4 3 Class AF-5 7 Class AF-6 6 Class MF-1 2 Class MF-2 2 Class BF-1 1 Class AV-1 4 Class MV-1 1 Class MV-2 2 Class BV-1 1
Item 6.
Item 6. Selected Financial Data
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial condition and Results of Operations
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9.
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.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11.
Item 11. Executive Compensation
Omitted.
Item 12.
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 Chase Manhattan Bank State Street Bank & Trust Company Wilmington Trust Company Class AF-2 Bankers Trust Company Brown Brothers Harriman & Co. Chase Manhattan Bank State Street Bank & Trust Company Class AF-3 Boston Safe Deposit & Trust Company Chase Manhattan Bank State Street Bank & Trust Company UMB Bank, N.A. Class AF-4 Boston Safe Deposit & Trust Company Wilmington Trust Company Union Bank of California, N.A. Class AF-5 Boston Safe Deposit & Trust Company First Union National Bank State Street Bank & Trust Company Class AF-6 Bankers Trust Company Boston Safe Deposit & Trust Company Chase Manhattan Bank The Northern Trust Company Mercantile Safe Deposit & Trust Company State Street Bank & Trust Company Class MF-1 The Bank of New York Chase Manhattan Bank Class MF-2 The Bank of New York Chase Manhattan Bank Class BF-1 Chase Manhattan Bank Class AV-1 The Bank of New York NBD Bank Prudential Securities Inc. State Street Bank & Trust Company Class MV-1 State Street Bank & Trust Company Class MV-2 Bankers Trust Company Citibank, N.A. Class BV-1 Prudential Securities Inc.
Item 13.
Item 13. Certain Relationships and Related Transactions
No reportable transactions have occurred.
PART IV
Item 14.
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 1998.
Current Reports on Form 8-K, dated December 28, 1998 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.
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 1998-4 Mortgage Loan Asset Backed Certificates 1998-4
Date: March 31, 1999 By: /s/ Bradley D. Adams --------------- Bradley D. Adams Vice President
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.
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
EXHIBIT 99.1 Annual Statement of Compliance by Master Servicer
In accordance with the letter dated March 13, 1997 sent to the Securities and Exchange Commission requesting an exception from SEC reporting requirements, the Trust is to include as an exhibit a copy of the Annual Statement of Compliance required under the Trust Agreement dated November 1, 1998. The Statement of Compliance states that the Master Servicer has received the annual audited financial statements of each servicer. Since the financial statements for one of the servicers will not be received until after March 31, 1999, the Annual Statement of Compliance cannot be filed by Master Servicer by the 10-K filing deadline. Accordingly the Annual statement of Compliance will be filed with the amended 10-K when the financial statements have been received.
EXHIBIT 99.2 Annual Certificate of Compliance
In accordance with the letter dated March 13, 1997 sent to the Securities and Exchange Commission requesting an exception from SEC reporting requirements, the Trust is to include as an exhibit a copy of the annual compliance statement of each Servicer. Such statement has not yet been received. Accordingly, the Annual Compliance Statement will be filed with an amended 10-K when such statement is received.
EXHIBIT 99.3 Annual Statement of Independent Accountants
In accordance with the letter dated March 13, 1997 sent to the Securities and Exchange Commission requesting an exception from SEC reporting requirements, the Trust is to include as an exhibit a copy of the annual Statement of Independents' Aaccountants. Such statement has not yet been received. Accordingly, the Annual Statement of Independent Accountants will be filed with an amended 10-K when such statement is received.
EXHIBIT 99.4 Annual Compilation of Selected Financial Information
=================================== Saxon Asset Securities Trust 1998-4 ===================================
(1) 1998 annual distribution with respect to the holder's Certificates based on original principal amount of $1,000