SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                  FORM 8-K/A

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES AND EXCHANGE ACT OF 1934


               Date of Report (Date of earliest event reported)
                               January 30, 2001


                                  CWABS, INC.
            (Exact Name of Registrant as Specified in its Charter)



Delaware                            333-38686                95-4596514
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(State or Other Jurisdiction       (Commission            (I.R.S. Employer
of Incorporation)                  File Number)          Identification No.)

4500 Park Granada
Calabasas, California                                            91302
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(Address of Principal                                          (Zip Code)
Executive Offices)

Registrant's telephone number, including area code: (818) 225-3237

                                   No Change
             ----------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)



Item 5. Other Events.*
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Pooling & Servicing Agreement
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     CWABS, Inc. (the "Company") entered into a Pooling and Servicing
Agreement dated as of January 1, 2001 (the "Pooling and Servicing Agreement"),
by and among the Company, as depositor, Countrywide Home Loans, Inc. ("CHL"),
as seller and master servicer, and The Bank of New York, as trustee (the
"Trustee"), providing for the issuance of the Company's Asset-Backed
Certificates, Series 2001-BC1 (the "Certificates"). The Certificates were
issued on January 30, 2001. The Pooling and Servicing Agreement is annexed
hereto as Exhibit 99.1.






























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*    Capitalized terms used and not otherwise defined herein shall have the
     meanings assigned to them in the prospectus and the prospectus supplement
     of CWABS, Inc., relating to its Asset-Backed Certificates, Series
     2001-BC1.



Item 7. Financial Statements; Pro Forma Financial Information and Exhibits.
        -------------------------------------------------------------------

(a)  Not applicable.

(b)  Not applicable.

(c)  Exhibits:

           99.1    Pooling and Servicing Agreement dated as of January 1, 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.

                                        CWABS, INC.



                                         By: /s/ Michael Schloessmann
                                            ----------------------------------
                                            Name:   Michael Schloessmann
                                            Title:  Vice President


Dated:  May 7, 2001



                                 EXHIBIT INDEX
                                 -------------



Exhibit No.           Description
- -----------           -----------


99.1                  Pooling and Servicing Agreement.