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): April 25, 2001
CWABS, INC.
(Depositor)
(Issuer in respect of Asset-Backed Certificates, Series 2001-BC1)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 91110-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
CWABS, INC.
Asset-Backed Certificates
Series 2001-BC1
On April 25, 2001, The Bank of New York, as Trustee for CWABS, INC.,
Asset-Backed Certificates Series 2001-BC1, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of January 1, 2001, among CWABS, INC. as
Depositor, Countrywide Home Loans, Seller and Master Servicer and The Bank of
New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of CWABS, INC., Asset-Backed Certificates
Series 2001-BC1 relating to the distribution date of April
25, 2001 prepared by The Bank of New York, as Trustee under
the 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 thereunto duly authorized.
Dated: April 25, 2001
CWABS, INC.
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Assistant Treasurer
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated April 25, 2001
Payment Date: 04/25/01
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 2001-BC1
------------------------------------------------------------
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
Senior A1 71,123,642.09 5.923000% 3,700,362.84 351,054.44 4,051,417.28 0.00 0.00
A2 15,504,000.00 6.011000% 0.00 77,662.12 77,662.12 0.00 0.00
A3 47,878,000.00 6.237000% 0.00 248,845.91 248,845.91 0.00 0.00
A4 25,859,000.00 6.602000% 0.00 142,267.60 142,267.60 0.00 0.00
A5 25,414,000.00 7.080000% 0.00 149,942.60 149,942.60 0.00 0.00
A6 22,500,000.00 6.565000% 0.00 123,093.75 123,093.75 0.00 0.00
AIO 221,778,642.09 0.000000% 0.00 600,147.03 600,147.03 0.00 0.00
M1 4,500,000.00 7.247000% 0.00 27,176.25 27,176.25 0.00 0.00
M2 3,375,000.00 7.741000% 0.00 21,771.56 21,771.56 0.00 0.00
B1 2,250,000.00 8.037000% 0.00 15,069.38 15,069.38 0.00 0.00
B2 3,375,000.00 9.021000% 0.00 25,371.56 25,371.56 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 221,778,642.09 - 3,700,362.84 1,782,402.20 5,482,765.04 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 67,423,279.25 0.00
A2 15,504,000.00 0.00
A3 47,878,000.00 0.00
A4 25,859,000.00 0.00
A5 25,414,000.00 0.00
A6 22,500,000.00 0.00
AIO 218,078,279.26 0.00
M1 4,500,000.00 0.00
M2 3,375,000.00 0.00
B1 2,250,000.00 0.00
B2 3,375,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 218,078,279.25 -
- --------------------------------------------------------------------------------
Payment Date: 04/25/01
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 2001-BC1
------------------------------------------------------------
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Senior A1 71,123,642.09 5.923000% 126671KP0 49.772854 4.721964 906.897293
A2 15,504,000.00 6.011000% 126671KQ8 0.000000 5.009167 1,000.000000
A3 47,878,000.00 6.237000% 126671KR6 0.000000 5.197500 1,000.000000
A4 25,859,000.00 6.602000% 126671KS4 0.000000 5.501667 1,000.000000
A5 25,414,000.00 7.080000% 126671KT2 0.000000 5.900000 1,000.000000
A6 22,500,000.00 6.565000% 126671KU9 0.000000 5.470833 1,000.000000
AIO 221,778,642.09 0.000000% 126671KZ8 0.000000 2.667320 969.236797
M1 4,500,000.00 7.247000% 126671KV7 0.000000 6.039167 1,000.000000
M2 3,375,000.00 7.741000% 126671KW5 0.000000 6.450833 1,000.000000
B1 2,250,000.00 8.037000% 126671KX3 0.000000 6.697502 1,000.000000
B2 3,375,000.00 9.021000% 126671KY1 0.000000 7.517499 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 221,778,642.09 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 2001-BC1
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 218,088,353.08 218,088,353.08
Loan count 2519 2519
Avg loan rate 10.800969% 10.80
Prepay amount 3,504,871.52 3,504,871.52
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 0.00 0.00
Sub servicer fees 92,407.77 92,407.77
Trustee fees 0.00 0.00
Agg advances N/A N/A
Adv this period 187,809.91 187,809.91
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00
Cumulative losses 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 4,183,489.29 4,183,489.29
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 221,778,642.09
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 152 14,489,654.18
60 to 89 days 40 3,430,113.40
90 or more 9 821,190.02
Foreclosure 0 0.00
Totals: 201 18,740,957.60
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 5,482,765.04 5,482,765.04
Principal remittance amount 3,700,362.84 3,700,362.84
Interest remittance amount 1,782,402.20 1,782,402.20