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): October 25, 2004
CW
(Depositor)
(Issuer in respect of Asset-Backed Securitiies, Series 2004-BC3)
(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)
, , N/A 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
CW
Asset-Backed Securitiies
Series 2004-BC3
On October 25, 2004, The Bank of New York, as Trustee for CW, Asset-Backed
Securitiies Series 2004-BC3, made a monthly distribution to Certificate holders
of principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of July 1, 2004, among CW 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 CW, Asset-Backed Securitiies Series
2004-BC3 relating to the distribution date of October 25,
2004 prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of July 1, 2004.
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: October 25, 2004
CW
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated October 25, 2004
Payment Date: 10/25/04
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securitiies, Series 2004-BC3
------------------------------------------------------------
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 1A 297,042,184.88 2.100000% 12,171,492.62 485,168.90 12,656,661.52 0.00 0.00
2A 59,373,007.84 2.220000% 3,476,034.96 102,517.39 3,578,552.35 0.00 0.00
P 100.00 0.000000% 0.00 359,806.63 359,806.63 0.00 0.00
C 426,165,192.72 0.000000% 0.00 1,526,364.91 1,526,364.91 0.00 0.00
Residual AR 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M1 14,625,000.00 2.390000% 0.00 27,186.25 27,186.25 0.00 0.00
M2 12,375,000.00 2.440000% 0.00 23,485.00 23,485.00 0.00 0.00
M3 8,550,000.00 2.510000% 0.00 16,691.50 16,691.50 0.00 0.00
M4 7,425,000.00 2.990000% 0.00 17,267.25 17,267.25 0.00 0.00
M5 6,525,000.00 3.090000% 0.00 15,681.75 15,681.75 0.00 0.00
M6 5,625,000.00 3.290000% 0.00 14,393.75 14,393.75 0.00 0.00
M7 5,625,000.00 3.740000% 0.00 16,362.50 16,362.50 0.00 0.00
M8 4,500,000.00 3.840000% 0.00 13,440.00 13,440.00 0.00 0.00
B 4,500,000.00 4.840000% 0.00 16,940.00 16,940.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 426,165,302.72 - 15,647,527.58 2,635,305.84 18,282,833.42 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A 284,870,692.26 0.00
2A 55,896,972.88 0.00
P 100.00 0.00
C 410,517,665.14 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M1 14,625,000.00 0.00
M2 12,375,000.00 0.00
M3 8,550,000.00 0.00
M4 7,425,000.00 0.00
M5 6,525,000.00 0.00
M6 5,625,000.00 0.00
M7 5,625,000.00 0.00
M8 4,500,000.00 0.00
B 4,500,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 410,517,775.14 -
- --------------------------------------------------------------------------------
Payment Date: 10/25/04
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securitiies, Series 2004-BC3
------------------------------------------------------------
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 1A 297,042,184.88 2.100000% 126673BY7 38.513725 1.535199 901.403956
2A 59,373,007.84 2.220000% 126673BZ4 54.126985 1.596347 870.398207
P 100.00 0.000000% 126673CL4 0.000000 3,598,066.300000 1,000.000000
C 426,165,192.72 0.000000% 126673CK6 0.000000 3.391922 912.261478
Residual AR 0.00 0.000000% 126673CM2 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M1 14,625,000.00 2.390000% 126673CA8 0.000000 1.858889 1,000.000000
M2 12,375,000.00 2.440000% 126673CB6 0.000000 1.897778 1,000.000000
M3 8,550,000.00 2.510000% 126673CC4 0.000000 1.952222 1,000.000000
M4 7,425,000.00 2.990000% 126673CD2 0.000000 2.325556 1,000.000000
M5 6,525,000.00 3.090000% 126673CE0 0.000000 2.403333 1,000.000000
M6 5,625,000.00 3.290000% 126673CF7 0.000000 2.558889 1,000.000000
M7 5,625,000.00 3.740000% 126673CG5 0.000000 2.908889 1,000.000000
M8 4,500,000.00 3.840000% 126673CH3 0.000000 2.986667 1,000.000000
B 4,500,000.00 4.840000% 126673CJ9 0.000000 3.764444 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 426,165,302.72 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securitiies, Series 2004-BC3
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 342,841,331.57 67,676,333.57 410,517,665.14
Loan count 2276 171 2447
Avg loan rate 6.977641% 6.610672% 6.92
Prepay amount 11,755,839.21 3,416,259.36 15,172,098.57
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 138,896.46 28,574.87 167,471.34
Sub servicer fees 0.00 0.00 0.00
Trustee fees 2,662.60 533.64 3,196.24
Agg advances N/A N/A N/A
Adv this period 100,883.80 18,108.00 118,991.80
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00 0.00
Cumulative losses 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 7,480,000.05 1,519,983.88 8,999,983.93
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 83.633111% 100.000000% 356,415,302.72
-----------------------------------------------------------------------------
Junior 16.366889% 0.000000% 69,750,000.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 68 10,419,015.17
60 to 89 days 10 2,221,550.20
90 or more 4 899,500.56
Foreclosure 19 2,442,848.58
Totals: 101 15,982,914.51
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 18,282,833.42 18,282,833.42
Principal remittance amount 15,647,527.58 15,647,527.58
Interest remittance amount 2,635,305.84 2,635,305.84