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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 24, 2001
ACE SECURITIES CORP.
(as depositor under the Pooling and Servicing Agreement,
dated on 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.
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On May 9, 2001, Ace Securities Corp. (the "Company") entered into a
Pooling and Servicing Agreement dated as of April 1, 2001 (the "Pooling and
Servicing Agreement"), by and among the Company, as depositor, Ameriquest
Mortgage Company, as original seller and servicer (the "Servicer"), U.S. Bank
National Association, as trustee (the "Trustee"), and Bankers Trust Company of
California, N.A., as trust administrator (the "Trust Administrator"),
providing for the issuance of the ACE Securities Corp. Home Equity Loan Trust,
Series 2001-AQ1 Asset Backed Pass-Through Certificates. The Pooling and
Servicing Agreement is annexed hereto as Exhibit 99.1.
In addition to the above agreement, Mortgage Guaranty Insurance
Corporation issued a Mortgage Guaranty Master Policy, dated as of April 1,
2001 (the "Policy"), providing for the guarantee of certain amounts with
respect to the Mortgage Loans upon certain conditions. The Policy is annexed
hereto as Exhibit 99.2.
Capitalized terms not otherwise defined herein have the meanings ascribed
to such terms in the Pooling and Servicing Agreement.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 The Pooling and Servicing Agreement, dated as of April 1,
2001, by and among the Company, the Servicer, the Trustee
and the Trust Administrator.
99.2 The Mortgage Guaranty Master Policy, dated as of April 1, 2001,
issued by Mortgage Guaranty Insurance Corporation.
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 24, 2001
Exhibit Index
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Exhibit Page
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99.1 The Pooling and Servicing Agreement dated as of April 1, 2001,
by and among the Company, the Servicer, the Trustee and the
Trust Administrator.
99.2 The Mortgage Guaranty Master Policy, dated as of April 1, 2001,
issued by Mortgage Guaranty Insurance Corporation.