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): August 25, 2005
CWA
(Depositor)
(Issuer in respect of Asset Backed Certificates, Series 2005-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)
, , 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)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions.
[]Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[]Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[]Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[]Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Section 8 - Other Events
Item 8.01 Other Events
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
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: August 25, 2005
CWA
By: /s/ Mark Baumer
------------------------------
Name: Mark Baumer
Assistant Treasurer
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated August 25, 2005
Payment Date: 08/25/05
------------------------------------------------------------
Countrywide Home Loans Servicing LP
Asset Backed Certificates, Series 2005-BC1
------------------------------------------------------------
Class Information Current Payment Information
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Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
Senior 1A1 208,108,911.25 3.660000% 13,946,177.25 655,889.92 14,602,067.17 0.00 0.00
1A2 52,027,659.56 3.710000% 3,486,573.25 166,213.92 3,652,787.17 0.00 0.00
2A1 51,809,059.07 3.550000% 7,838,543.16 158,377.42 7,996,920.58 0.00 0.00
2A2 48,903,000.00 3.660000% 0.00 154,125.96 154,125.96 0.00 0.00
2A3 12,252,000.00 3.770000% 0.00 39,774.76 39,774.76 0.00 0.00
C 492,725,630.85 0.000000% 0.00 876,022.22 876,022.22 0.00 0.00
P 100.00 0.000000% 0.00 375,840.47 375,840.47 0.00 0.00
Residual AR 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M1 23,925,000.00 3.870000% 0.00 79,730.06 79,730.06 0.00 0.00
M2 18,700,000.00 3.900000% 0.00 62,800.83 62,800.83 0.00 0.00
M3 11,275,000.00 3.940000% 0.00 38,253.57 38,253.57 0.00 0.00
M4 10,450,000.00 4.060000% 0.00 36,534.36 36,534.36 0.00 0.00
M5 9,350,000.00 4.120000% 0.00 33,171.72 33,171.72 0.00 0.00
M6 9,075,000.00 4.190000% 0.00 32,743.10 32,743.10 0.00 0.00
M7 8,250,000.00 4.660000% 0.00 33,105.42 33,105.42 0.00 0.00
M8 6,875,000.00 4.760000% 0.00 28,179.86 28,179.86 0.00 0.00
B 6,875,000.00 5.360000% 0.00 31,731.94 31,731.94 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 477,875,729.88 - 25,271,293.66 2,802,495.53 28,073,789.19 - -
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Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 194,162,734.00 0.00
1A2 48,541,086.31 0.00
2A1 43,970,515.91 0.00
2A2 48,903,000.00 0.00
2A3 12,252,000.00 0.00
C 467,454,337.19 0.00
P 100.00 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M1 23,925,000.00 0.00
M2 18,700,000.00 0.00
M3 11,275,000.00 0.00
M4 10,450,000.00 0.00
M5 9,350,000.00 0.00
M6 9,075,000.00 0.00
M7 8,250,000.00 0.00
M8 6,875,000.00 0.00
B 6,875,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 452,604,436.22 -
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Payment Date: 08/25/05
------------------------------------------------------------
Countrywide Home Loans Servicing LP
Asset Backed Certificates, Series 2005-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 1A1 208,108,911.25 3.660000% 126673YD8 57.865554 2.721422 805.621070
1A2 52,027,659.56 3.710000% 126673YE6 57.865554 2.758600 805.621070
2A1 51,809,059.07 3.550000% 126673YF3 115.345633 2.330553 647.034388
2A2 48,903,000.00 3.660000% 126673YG1 0.000000 3.151667 1,000.000000
2A3 12,252,000.00 3.770000% 126673YH9 0.000000 3.246389 1,000.000000
C 492,725,630.85 0.000000% 126673YT3 0.000000 1.592768 849.916977
P 100.00 0.000000% 126673YU0 0.000000 3,758,404.700000 1,000.000000
Residual AR 0.00 0.000000% 126673YV8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M1 23,925,000.00 3.870000% 126673YJ5 0.000000 3.332500 1,000.000000
M2 18,700,000.00 3.900000% 126673YK2 0.000000 3.358333 1,000.000000
M3 11,275,000.00 3.940000% 126673YL0 0.000000 3.392778 1,000.000000
M4 10,450,000.00 4.060000% 126673YM8 0.000000 3.496111 1,000.000000
M5 9,350,000.00 4.120000% 126673YN6 0.000000 3.547778 1,000.000000
M6 9,075,000.00 4.190000% 126673YP1 0.000000 3.608056 1,000.000000
M7 8,250,000.00 4.660000% 126673YQ9 0.000000 4.012778 1,000.000000
M8 6,875,000.00 4.760000% 126673YR7 0.000000 4.098889 1,000.000000
B 6,875,000.00 5.360000% 126673YS5 0.000000 4.615556 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 477,875,729.88 - - - - -
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Countrywide Home Loans Servicing LP
Asset Backed Certificates, Series 2005-BC1
------------------------------------------------------------
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COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 326,440,726.75 141,013,610.44 467,454,337.19
Loan count 1823 505 2328
Avg loan rate 6.405407% 6.450249% 6.42
Prepay amount 14,297,323.29 5,214,754.06 19,512,077.35
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 135,072.27 60,088.66 195,160.93
Sub servicer fees 0.00 0.00 0.00
Trustee fees 2,579.05 1,116.39 3,695.44
Agg advances N/A N/A N/A
Adv this period 137,763.46 52,637.00 190,400.46
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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 7,699,999.16 3,300,001.56 11,000,000.72
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 78.074844% 100.000000% 373,100,729.88
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Junior 21.925156% 0.000000% 104,775,000.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 52 8,900,835.01
60 to 89 days 11 2,554,927.87
90 or more 1 388,756.49
Foreclosure 11 2,142,180.96
Totals: 75 13,986,700.33
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- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 65,570.09
Current Total Outstanding Number of Loans: 1
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OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 28,073,789.19 28,073,789.19
Principal remittance amount 25,271,293.66 25,271,293.66
Interest remittance amount 2,802,495.53 2,802,495.53