UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[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
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OR
[ ] 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: 333-47158-01
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IndyMac ABS, Inc.
Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2000-C
HomeEquity Loan Asset-Backed Certificates, Series
SPMD 2000-C (Exact name of Registrant as
specified in its charter)
Delaware 95-4685267
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(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
c/o The Bank of New York
101 Barclay Street
New York, New York 10286
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 815-2007
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Securities registered pursuant to Section 12(b) of the Act: None
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Securities registered pursuant to Section 12(g) of the Act: None
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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 (ss.229.405 of this chapter) 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. [ ]
State the aggregate market value of the voting and non-voting common equity
held by non-affiliates of the Registrant: Not applicable
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State the number of shares outstanding of each of the registrant's classes of
common stock, as of December 31, 2000: Not applicable
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DOCUMENTS INCORPORATED BY REFERENCE
None
* * *
This Annual Report on Form 10-K (the "Report") is filed with respect
to the trust fund entitled Home Equity Mortgage Loan Asset-Backed Trust Series
SPMD 2000-C (the "Trust Fund") formed pursuant to the pooling and servicing
agreement dated as of November 1, 2000 (the "Pooling and Servicing Agreement")
among IndyMac ABS, Inc., as depositor (the "Company"), IndyMac, Inc., as
seller and master servicer (the "Master Servicer"), and Bankers Trust Company
of California, N.A. as trustee (the "Trustee"), for the issuance of IndyMac
ABS, Inc., Home Equitiy Loan Asset-Backed Certificates, Series SPMD 2000-C (the
"Certificates"). Certain information otherwise required to be included in this
Report by the Instructions to Form 10-K has been omitted in reliance on the
relief granted by the Commission to other companies in similar circumstances,
including, but not limited to, the relief granted to CWMBS, Inc. (February 3,
1994) (collectively, the "Relief Letters").
PART I
ITEM 1. BUSINESS
Not applicable in reliance on the Relief Letters.
ITEM 2. PROPERTIES
Not applicable in reliance on the Relief Letters.
ITEM 3. LEGAL PROCEEDINGS
There were no material pending legal proceedings relating to the
Trust Fund to which any of the Trust Fund, the Trustee, the Master
Servicer or the Company was a party or of which any of their
respective properties was the subject during the fiscal year covered
by this Report, nor is the Company aware of any such proceedings
contemplated by governmental authorities.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter was submitted to a vote of Certificateholders, and no
Certificateholder consent was solicited during the fiscal year
covered by this Report.
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
(a) There is no established public trading market for the
Certificates.
(b) As of December 31, 2000, there were less than 300 holders of
record of the Certificates.
(c) Not applicable. (Information as to distributions to
Certificateholders is provided in the Registrant's monthly filings on
Form 8-K.)
ITEM 6. SELECTED FINANCIAL DATA
Not applicable in reliance on the Relief Letters.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Not applicable in reliance on the Relief Letters.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable in reliance on the Relief Letters.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Not applicable in reliance on the Relief Letters.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Not applicable in reliance on the Relief Letters.
ITEM 11. EXECUTIVE COMPENSATION
Not applicable in reliance on the Relief Letters.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
(a) Not applicable in reliance on the Relief Letters.
(b) Not applicable in reliance on the Relief Letters.
(c) Not applicable in reliance on the Relief Letters.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
(a) Not applicable in reliance on the Relief Letters.
PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
(a) (1) Pursuant to the Pooling and Servicing
Agreement, the Master Servicer is required (i) to
deliver an annual statement as to compliance with the
provisions of the Pooling and Servicing Agreement and
certain other matters (the "Annual Statement of the
Master Servicer") and (ii) to cause a firm of
independent public accountants to deliver an annual
report as to compliance with the servicing provisions
of the Pooling and Servicing Agreement (the "Annual
Report of the Firm of Accountants"). Both the Annual
Statement of the Master Servicer and the Annual Report
of the Firm of Accountants are attached as Exhibits
99.1 and 99.2, respectively, to this Report.
(2) Not applicable.
(3) The required exhibits are as follows:
Exhibit 3(i): Copy of Company's Certificate of
Incorporation (Filed as an Exhibit to Registration
Statement on Form S-3 (File No. 333-47158)).
Exhibit 3(ii): Copy of Company's By-laws
(Filed as an Exhibit to Registration Statement on Form
S-3 (File No. 333-47158)).
Exhibit 4: Pooling and Servicing Agreement
(Filed as part of the Registrant's Current Report on
Form 8-K filed on December 7, 2000).
Exhibit 99.1: Annual Statement of the Master
Servicer.
Exhibit 99.2: Annual Report of the Firm of
Accountants.
(b) Current Reports on Form 8-K filed during the last quarter of
the period covered by this Report:
Date of Current Report Item Reported
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December 26, 2000 Monthly Report sent to certificateholders
with the December 2000 distribution
(c) See subparagraph (a)(3) above.
(d) Not applicable in reliance on the Relief Letters.
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.
No such annual report, proxy statement, form of proxy or other
soliciting material has been sent to Certificateholders. See the Relief
Letters.
SIGNATURES
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.
CWMBS, INC., HOME EQUITY MORTGAGE LOAN
ASSET-BACKED TRUST SERIES SPMD 2000-C,
MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES SPMD 2000-C
By: Bankers Trust Company
of California, N.A.,
as Trustee*
By: /s/ Ronaldo Reyes
-----------------------------------
Name: Ronaldo Reyes
Title: Associate
Date: March 26, 2001
__________
* This Report is being filed by the Trustee on behalf of the Trust Fund. The
Trust Fund does not have any officers or directors.
EXHIBIT INDEX
Sequential
Exhibit Document Page Number
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3(i) Company's Certificate of Incorporation (Filed as an
Exhibit to Registration Statement on Form S-3
(File No. 333-47158)) *
3(ii) Company's By-laws (Filed as an Exhibit to Registration
Statement on Form S-3 (File No. 333-47158)) *
4 Pooling and Servicing Agreement (Filed as part of the
Company's Current Report on Form 8-K filed on December
7, 2000) *
99.1 Annual Statement of the Master Servicer............................11
99.2 Annual Report of the Firm of Accountants...........................13
__________
* Incorporated herein by reference.
Exhibit 99.1
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INDYMAC ABS, INC.
OFFICERS' CERTIFICATE
ANNUAL STATEMENT OF THE MASTER SERVICER
INDYMAC ABS, INC.
HOME EQUITY MORTGAGE LOAN ASSET-BACKED TRUST, SERIES SPMD 2000-C
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES SPMD 2000-C
The undersigned do hereby certify that they are each an officer of
IndyMac Bank, F.B.S. (f/k/a Independent National Mortgage Corporation) (the
"Master Servicer") and do hereby further certify pursuant to Section 3.19 of
the Pooling and Servicing Agreement for the above-captioned Series (the
"Agreement") that:
(i) A review of the activities of the
Master Servicer during the preceding calendar year and of
the performance of the Master Servicer under the Agreement
has been made under our supervision;
(ii) To the best of our knowledge, based on such review,
the Master Servicer has fulfilled all its obligations
under the Agreement throughout such year; and
(iii) To the best of our knowledge, each Servicer has
fulfilled all its obligations under its Servicing
Agreement throughout such year (capitalized terms used in
this subparagraph (iii) shall have the meanings assigned
to such terms in the Agreement).
/s/ S. Blair Abernathy Dated: 3/26/01
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Executive Vice President
/s/John Kim Dated: 3/26/01
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Vice President
Exhibit 99.2
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
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IndyMac, Inc.
We have examined management's assertion about IndyMac Bancorp, Inc.'s
compliance with the minimum servicing standards identified in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for
Mortgage Bankers (USAP) as of and for the year ended December 31, 2000,
included in the accompanying management assertion. Management is responsible
for IndyMac Bancorp, Inc.'s compliance with those minimum servicing standards.
Our responsibility is to express an opinion on management's assertion about
the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about IndyMac Bancorp, Inc.'s compliance
with the 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 IndyMac Bancorp, Inc.'s compliance with the minimum
servicing standards.
In our opinion, management's assertion that IndyMac Bancorp, Inc. complied
with the aforementioned minimum servicing standards as of and for the year
ended December 31, 2000 is fairly stated, in all material respects.
/s/ Grant Thornton LLP
Los Angeles, California
March 26, 2001
[LOGO] IndyMac
March 26, 2000
Grant Thornton LLP
1000 Wilshire Blvd., Suite 700
Los Angeles, CA 90017
Management's Assertion
As of and for the year ended December 31, 2000, IndyMac Bank, F.S.B. has
complied in all material respects with the minimum servicing standards, in its
capacity as a master servicer, as set forth in the Mortgage Bankers
Association of America's Uniform Single Attestation Program for Mortgage
Bankers. As of and for the year ended December 31, 2000, IndyMac had in effect
fidelity bond and mortgage impairment errors and omissions policies in the
amounts of $30,000,000 and $10,000,000, respectively.
Very truly yours,
IndyMac, Inc.
/s/ Richard Wohl
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Richard Wohl President and Chief Operating Officer
/s/ Carmella Grahn
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Carmella Grahn Executive Vice President and Chief Financial Officer
155 North Lake Avenue
Pasadena, California 91101
Telephone: 800.669.2300
http://www.indymac.com