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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported): May 3, 2001
ACE SECURITIES CORP.
(as depositor under the Pooling and Servicing Agreement,
dated on or about April 1, 2001, providing for the issuance of the
ACE Securities Corp. Home Equity Loan Trust, Series 2001-AQ1
Asset Backed Pass-Through Certificates.
ACE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-45458 56-2088493
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
6525 Morrison Boulevard
Suite 318
Charlotte, NC 28211
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (704) 365-0569
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Item 5. Other Events.
Filing of Computational Materials
Pursuant to Rule 424(b) under the Securities Act of 1933, concurrently
with, or subsequent to, the filing of this Current Report on Form 8-K (the
"Form 8-K"), Ace Securities Corp. (the "Company") is filing a prospectus and
prospectus supplement with the Securities and Exchange Commission relating to
its ACE Securities Corp. Home Equity Loan Trust, Series 2001-AQ1 Asset Backed
Pass-Through Certificates.
In connection with the offering of the ACE Securities Corp. Home Equity
Loan Trust, Series 2001-AQ1 Asset Backed Pass-Through Certificates, Deutsche
Banc Alex. Brown Inc. ("DBAG"), as underwriter of the Certificates, has
prepared certain materials (the "Computational Materials") for distribution to
their potential investors. Although the Company provided DBAG with certain
information regarding the characteristics of the Mortgage Loans in the related
portfolio, the Company did not participate in the preparation of the
Computational Materials.
For purposes of this Form 8-K, "Computational Materials" shall mean
computer generated tables and/or charts displaying, with respect to any Class
or Classes of Certificates, any of the following: yield; average life;
duration; expected maturity; interest rate sensitivity; loss sensitivity; cash
flow characteristics; background information regarding the Mortgage Loans; the
proposed structure; decrement tables; or similar information (tabular or
otherwise) of a statistical, mathematical, tabular or computational nature.
The Computational Materials, listed as Exhibit 99.1 hereto are filed on Form
SE dated May 3, 2001.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials
filed on Form SE dated May 3, 2001.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACE SECURITIES CORP.
By: /s/ Doris J. Hearn
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Name: Doris J. Hearn
Title: Vice President
Dated: May 3, 2001
Exhibit Index
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Exhibit Page
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99.1 Computational Materials
filed on Form SE dated May 3, 2001.
SIDLEY AUSTIN BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
May 3, 2001
BY MODEM
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Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: ACE Securities Corp. Home Equity Loan Trust,
Series 2001-AQ1 Asset Backed Pass-Through Certificates
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Ladies and Gentlemen:
On behalf of Ace Securities Corp., (the "Company"), we enclose
herewith for filing, pursuant to the Securities and Exchange Act of 1934, as
amended, the Company's Current Report on Form 8-K, for Computational Materials
in connection with the above-referenced transaction.
Very truly yours,
/s/ George Hoyt
George Hoyt
Enclosure