0001162318-03-000110 Sample Contracts

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Saxon Asset Securities Company Mortgage Loan Asset Backed Certificates, Series 2003-1 UNDERWRITING AGREEMENT
Underwriting Agreement • March 21st, 2003 • Saxon Asset Securities Co • Asset-backed securities • New York

The Certificates will be issued pursuant to a Pooling and Servicing Agreement, dated as of March 1, 2003 (the “Pooling and Servicing Agreement”), by and among the Company, SMI, as Master Servicer (the “Master Servicer”), Saxon Mortgage Services, Inc., as Servicer (the “Servicer”) and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”). The Certificates will represent in the aggregate the entire beneficial ownership interest in the assets of the Trust Fund created under the Pooling and Servicing Agreement, which will consist primarily of three pools of conventional, one- to four-family, mortgage loans with original terms to stated maturity of not more than 30 years with the characteristics described in the Prospectus Supplement (the “Mortgage Loans”).

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