10-D 1 cwheq07b_sept07.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from August 16, 2007 to September 17, 2007 Commission File Number of issuing entity: 333-132375-19 CWHEQ Revolving Home Equity Loan Trust, Series 2007-B ------------------------------------------------------------------------------- (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-132375 CWHEQ, Inc. ------------------------------------------------------------------------------- (Exact name of depositor as specified in its charter) Countrywide Home Loans, Inc. ------------------------------------------------------------------------------- (Exact name of sponsor as specified in its charter) Delaware -------------- (State or other jurisdiction of incorporation or organization of the issuing entity) 61-1528591, 38-3756991, 36-4607927 ---------------------------------- (I.R.S. Employer Identification No.) c/o Wilmington Trust Company Rodney Square North 1100 North Market Street Wilmington, DE 19890 -------------------------------------- --------- (Address of principal executive offices Zip Code of the issuing entity) (302) 651-1000 -------------- (Telephone number, including area code) Not Applicable -------------- (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Section 12(b) Section 12(g) Section 15(d) Name of Exchange (if Section 12(b)) Title of class A [ ] [ ] [ x ] C [ ] [ ] [ x ] EP [ ] [ ] [ x ] R1 [ ] [ ] [ x ] R2 [ ] [ ] [ x ] Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x] No [ ] PART I -DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information. On September 17, 2007 a distribution was made to holders of CWHEQ Revolving Home Equity Loan Trust, Series 2007-B, Revolving Home Equity Loan Asset Backed Notes, Series 2007-B. The distribution report is attached as Exhibit 99.1 to this Form 10-D. PART II - OTHER INFORMATION Item 2. Legal Proceedings. None. Item 3. Sales of Securities and Use of Proceeds. None. Item 4. Defaults Upon Senior Securities. None. Item 5. Submission of Matters to a Vote of Security Holders. None. Item 6. Significant Obligors of Pool Assets. None. Item 7. Significant Enhancement Provider Information. None. Item 8. Other Information. None. Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D: Monthly Statement to Noteholders on September 17, 2007 is filed as Exhibit 99.1 hereto. (b) The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index that immediately follows the signature page hereof 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. CWHEQ Revolving Home Equity Loan Trust, Series 2007-B (Issuing Entity) Date: September 24, 2007 Countrywide Home Loans, Inc. (Master Servicer) By: /s/ Darren Bigby ------------------------ Darren Bigby Title: Vice President EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly Statement to Noteholders EXHIBIT 99.1 CWHEQ Revolving Home Equity Loan Trust, Series 2007-B September 17, 2007 Table of Contents Page Distribution Report ..................................................... 2 Factor Report ........................................................... 2 Delinquency Report ...................................................... 8 Trend Report Delinquency Percentage ..................................... 8 Bankruptcy Group Report ................................................. 9 Foreclosure Group Report ................................................ 9 REO Group Report ........................................................ 9 BK FC REO Historical Trend Report ....................................... 9 Credit Enhancer and Trigger Information ................................. 13 IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Sean T McCullough Bank of New York - ITS - Global Debt 601 Travis, 16th Floor Houston, Texas 77002 Tel: (713) 483-6593 / Fax: (713) 483-6627 Email: sean.t.mccullough@bankofny.com

CWHEQ Revolving Home Equity Loan Trust, Series 2007-B ~~June~~September 1517, 2007 ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ----------------------------------------------------------------------------------------------------------------------------------- A 950,000,000.00 ~~905~~841,~~670~~602,~~911~~380.6704 229,~~035~~778,~~896~~823.6529 4,~~265~~444,~~961~~624.5790 2614,~~301~~223,~~858~~448.2219 0.00 0.00 ~~883~~831,~~635~~823,~~015~~556.0275 R1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 R2 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 EP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ----------------------------------------------------------------------------------------------------------------------------------- TOTALS 950,000,100.00 ~~905~~841,~~670~~602,~~911~~380.6704 229,~~035~~778,~~896~~823.6529 4,~~265~~444,~~961~~624.5790 2614,~~301~~223,~~858~~448.2219 0.00 0.00 ~~883~~831,~~635~~823,~~015~~556.0275 ----------------------------------------------------------------------------------------------------------------------------------- C 950,000,000.00 ~~905~~844,~~670~~386,~~911~~873.6722 0.00 ~~2,701,831~~1.5095 ~~2,701,831~~1.5095 0.00 0.00 ~~883~~836,~~635~~282,~~015~~861.0244 ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE ----------------------------------------------------------------------------------------------------------------------------------- CURRENT BEGINNING ENDING NOTE CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL RATE ----------------------------------------------------------------------------------------------------------------------------------- A 12669XAE4 ~~953~~885.~~33780176~~89724215 2310.~~19568068~~29349820 4.~~49048586~~67855253 2714.~~68616655~~97205073 ~~930~~875.~~14212107~~60374395 5.~~470000~~76% R2 12669XAC8 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.~~000000~~00% ~~-----------------------------------------------------------------------------------------------------------------------------------~~ TOTALS ~~953~~885.~~33770141~~89714890 2310.~~19567824~~29349712 4.~~49048539~~67855203 2714.~~68616363~~97204915 ~~930~~875.~~14202316~~60365178 --------------------------------------------------------------------------------------------------------------------------------~~---~~ C 12669XAA2 ~~953~~888.~~33780176~~82828760 0.00000000 20.~~84403316~~00000205 20.~~84403316~~00000205 ~~930~~880.~~14212107~~29774888 0.~~000000~~00% ----------------------------------------------------------------------------------------------------------------------------------- CWHEQ Revolving Home Equity Loan Trust, Series 2007-B ~~June~~September 1517, 2007 General Information: Record Date 0609/14/2007 LIBOR Determination Date 0508/1113/2007 Payment Date 0609/1517/2007 Determination Date 0609/12/2007 Interest Period Beginning 0508/15/2007 Ending 0609/1416/2007 Number of Days in Interest Period 3133 Collection Period Beginning 0508/01/2007 Ending 0508/31/2007 ACCOUNTS COLLECTION ACCOUNT Beginning Balance 0.00 Deposits Collections on Mortgage Loans Interest payments on ~~Mortgage~~Morgtage Loans 76,~~066~~594,~~922~~914.0402 Principal payments on Mortgage Loans 4022,~~868~~729,~~769~~489.8596 Purchase Price (for Mortgage Loans modified by the Master Servicer) 9189,~~603~~140.0023 Purchase Price (for delinquent Mortgage Loans purchased by the Master Servicer) 0.00 Purchase Price (for Mortgage Loans that didn't meet representations and warranties) 0.00 Transfer Deposit Amount 0.00 Net Liquidation Proceeds (net of Foreclosure Profits) 0.00 Insurance Proceeds 0.00 Deposits by Master Servicer for losses on Eligible Investments 0.00 Investment income on Eligible Investments 0.00 Servicer Advances 0.00 Termination purchase price (for 10% clean-up call) 0.00 Other Proceeds / Amounts Amount Related To Principal ~~66,577~~0.9500 Others 0.00 Total Deposits 4829,~~093~~413,~~872~~544.8421 Deposit from Master Servicer of collections after the Cut-off Date but prior to the Closing Date (excluding accrued interest) 0.00 Withdrawals Investment income on Eligible Investments paid to Master Servicer 0.00 Amount withdrawn to purchase Additional Balances 0.00 Amount transferred to Payment Account 4829,~~084~~374,~~031~~417.6234 Other Permitted Withdrawal per the Sale and Servicing Agreement 939,~~841~~126.2287 Total Withdrawals 4829,~~093~~413,~~872~~544.8421 Losses on Eligible Investments 0.00 Ending Balance 0.00 PAYMENT ACCOUNT Beginning Balance 0.00 Deposits Deposit from Collection Account 4829,~~084~~374,~~031~~417.6234 Deposits by Master Servicer for losses on Eligible Investments 0.00 Investment income on Eligible Investments 0.00 Cash Released from Additional Loan Account (First Payment Date) 0.00 Deposit from Master Servicer to account for non-fully indexed ~~Mortgage~~Morgage Loans (first two Payment Dates only) 0.00 Deposit from Master Servicer for Shortfalls due to Longer Interest Period or Prefunding 0.00 Total Deposits 4829,~~084~~374,~~031~~417.6234 Withdrawals Investment income on Eligible Investments paid to Master Servicer 0.00 Payment pursuant to Section 8.03 of the Indenture 4829,~~084~~374,~~031~~417.6234 Total Withdrawals 4829,~~084~~374,~~031~~417.6234 Losses on Eligible Investments 0.00 Ending Balance 0.00 POLICY PAYMENTS ACCOUNT Beginning Balance 0.00 Amount deposited from amounts paid under the Policy 0.00 Amount transferred to Payment Account 0.00 Ending Balance (to be remitted to Credit Enhancer) 0.00 Cash Released from Principal Reserve Fund 0.00 DISTRIBUTIONS Amounts to be Distributed 4829,~~084~~374,~~031~~417.6234 Group 1 Investor Interest Collections 76,~~058~~588,~~360~~596.2065 Principal Collections 227,~~035~~719,~~896~~011.6578 Subordinated Transferor Collections ~~2,701,831~~0.5000 Credit Enhancement Draw Amount 0.00 Net Draws Principal Payment 1815,~~989~~066,~~774~~808.7791 Transaction Party Fees and Expenses Group 1 Servicing Fees owing to the Master Servicer for current collection Period ~~377~~351,~~362~~827.8886 Servicing Fees owing to the Master Servicer for prior collection Periods 0.00 Servicing Fees paid to the Master Servicer ~~377~~351,~~362~~827.8886 Liquidation Expenses and indemnification of payments related to the Class A Note owing to the Master Servicer 0.00 Liquidation Expenses and indemnification of payments related to the Class A Note paid to the Master Servicer 0.00 Indenture Trustee Fees owing to the Indenture Trustee 0.00 Indenture Trustee Fees paid to the Indenture Trustee 0.00 Owner Trustee Fees owing to the Indenture Trustee 0.00 Owner Trustee Fees paid to the Indenture Trustee 0.00 Amount owing to the Loan Insurance Policy Provider 0.00 Amount paid to the Loan Insurance Policy Provider 0.00 Premium amount owing to the Insurer 9084,~~567~~160.0924 Premium amount paid to the Insurer 9084,~~567~~160.0924 Credit Enhancement Draw Amounts related to the Class A Note 0.0400 (together with interest on such amounts) owing to the Credit Enhancer Credit Enhancement Draw Amounts related to the Class A Note 0.00 (together with interest on such amounts) paid to the Credit Enhancer ~~0.0375000006~~ Interest Payments Class A Note Interest owing to Class A Note prior to distributions 4,~~265~~444,~~961~~624.5790 Unpaid Investor Interest Shortfall owing to Class A Note prior to distributions 0.00 Unpaid Investor Interest Shortfall owing to Class A Note prior to distributions per $1,000 of Note Principal Balance prior to the Payment Date 0.00 Interest on Unpaid Investor Interest Shortfall owing to Class A Note prior to distributions 0.00 Aggregate Investor Interest owing to Class A Note Prior to distributions 4,~~265~~444,~~961~~624.5790 Aggregate Investor Interest paid to Class A Note 4,~~265~~444,~~961~~624.5790 Unpaid Investor Interest Shortfall for Class A Note after distributions 0.00 Unpaid Investor Interest Shortfall for Class A Note after distribution per $1,000 of Note Principal Balance prior to the Payment Date 0.00 Basis Risk Carryforward owing to the Class A Note prior to distributions 0.00 Basis Risk Carryforward ~~paid~~for to the Class A Note remaining after distributions 0.00 Basis Risk Carryforward ~~for~~paid to the Class A Note ~~remaining~~0.00 ~~after~~Income ~~distributions~~realized 0from investment of Funds Basis Risk Carryforward Reserve Fund paid to Class C 1.0095 Principal Payments Class A Investor Loss Amount owing to Class A Note prior to distributions 0385,000.00 Investor Loss Amount paid to Class A Note 0385,000.00 Investor Loss Reduction Amount owing to Class A Note prior to distributions Investor Loss ~~Reduction~~Redution Amount paid to Class A Note 0.00 Investor Loss Reduction Amount for Class A Note remaining after distributions 0.00 Investor Loss Reduction Amount for Class A Note remaining after distributions per $1,000 of Note Principal Balance prior to the Payment Date 0.00 Accelerated Principal Payment Amount owing to Class A Note prior to distributions 01,674,811.0051 Accelerated Principal Payment Amount paid to Class A Note 01,674,811.0051 Scheduled Principal Collections Payment Amount owing to Class A Note prior to distributions 227,~~035~~719,~~896~~011.6578 Scheduled Principal Collections Payment Amount paid to Class A Note 227,~~035~~719,~~896~~011.6578 Transferor Principal Collections (paid to Transferor) 0.00 Application of Subordinated Transferor Collections Group 1 Required Amount for Class A Note 0.00 Unpaid Required Amount for Class A Note after making distributions above 0.00 Amount of Subordinated Transferor Collections 0.00 Remaining unpaid Required Amount for Class A Note after application of Subordinated Transferor Collections 0.00 Amount of Allocated Transferor Interest prior to the Payment Date 0.00 Investor Loss Amount and Investor Loss Reduction Amount for the Class A Note allocated to the Allocated Transferor Interest 0.00 Amount of Available Transferor Subordinated Amount prior to the Payment Date 0.00 Investor Loss Amount and Investor Loss Reduction Amount for the Class A Note allocated to the Available Transferor Subordinated Amount 0.00 Distributions to Issuer Group 1 Amount distributed to the Issuer for distribution under the Trust Agreement pursuant to Section 8.03(a)(xvi) of the Indenture 0.00 Interest Collections that are not Investor Interest Collections for the related Collection Period 0.00 Transferor Principal Collections in excess of Additional Balances created on Mortgage Loans during the related Collection period. 0.00 Allocated Transferor Interest 04,074,304.0069 Required Transferor Subordinated Amount 28,025,000.00 Amount distributed to the Issuer from Interest Collections that are not Investor Interest Collections 2,~~701~~670,~~831~~112.5043 and Transferor Principal Collections Supporting Calculations Investor Loss Amount for Class A Note 0385,000.00 Investor Floating Allocation Percentage for Class A Note 100.00% Liquidation loss amounts for ~~Mortgage~~Morgage Loans 0385,000.00 Investor Loss Amount for Class A Note 0385,000.00 ~~Delinquency~~Delinguency Report Number Principal Percentage of Loans Balance 30 to 59 Days Delinquent ~~220~~165 1914,~~200~~811,~~332~~170.4986 21.~~1729~~7711% 60 to 89 Days Delinquent 65111 611,~~519~~199,~~591~~307.0843 01.~~7378~~3392% 90 to 179 Days Delinquent 1149 5817,~~336~~307,631.0564 02.~~0066~~0696% 180 to 269 Days Delinquent 0 0.00 0.0000% 270 Plus Days Delinquent 0 0.00 0.0000% Total ~~286~~425 2543,~~778~~318,~~259~~109.6293 25.~~9173~~1798% Bankruptcy Group Report Group Number Number of Loans Principal Balance Percentage 1 08 0334,069.0049 0.0004% Total 08 0334,069.0049 0.0004% Foreclosure Group Report Group Number Number of Loans Principal Balance Percentage 1 0 0.00 0.00% Total 0 0.00 0.00% REO Group Report Group Number Number of Loans Principal Balance Percentage 1 0 0.00 0.00% Total 0 0.00 0.00% Loan Group 1 Optional Servicer Advances (Current Collection Period) 0.00 Optional Servicer Advances (Outstanding from prior Collection Periods) 0.00 Mortgage Loans transferred to the Transferor pursuant to Section 2.06 of the Sale and Servicing Agreement Count 0 Asset Balance 0.00 Mortgage Loans for which the ~~Mortgage~~Morgage File was not delivered to the Indenture Trustee within 30 days of the Closing Date Number 0 Balance 0.00 Mortgage Loans repurchased by Sponsor for breach of representations and warranties 0.00 Mortgage Loans repurchased by Sponsor for Modifications 9189,~~603~~140.0023 BALANCE RECONCILIATION Group 1 Beginning Loan Group Balance ~~905~~844,~~670~~386,~~911~~873.6722 Prefunding Amt 0.00 Ending Loan Group Balance ~~883~~836,~~635~~282,~~015~~861.0244 Change in Loan Group Balance 228,~~035~~104,~~896~~011.6578 Principal Collections 4122,~~025~~785,~~671~~820.4269 Liquidation Loss Amount 0385,000.00 Liquidation Recovery Amount 0.00 Cumulative Liquidation Loss Amount 0385,000.00 Additional Balances during Collection Period 1815,~~989~~066,~~774~~808.7791 Balance Check 0.00 OTHER INFORMATION Loan Group 1 Allocated Transferor Interest (Beginning) 02,784,493.0018 Allocated Transferor Interest (Ending) 04,074,304.0069 Interest payments on ~~Mortgage~~Morgage Loans 76,~~435~~940,~~723~~424.0851 Net Liquidation Proceeds (Allocable to Interest) 0.00 Insurance Proceeds (Allocable to Interest) 0.00 Servicer Advance (Allocable to Interest) 0.00 Purchase Price per Section 2.02(a) (Allocable to Interest) 0.00 Purchase Price (90+ Day Delinquencies) (Allocable to Interest) 0.00 Residual Advance 0.00 Total Interest 76,~~435~~940,~~723~~424.0851 Servicing Fee ~~377~~351,~~362~~827.8886 Investor Interest Collections 76,~~058~~588,~~360~~596.2065 Beginning Loan Group Balance ~~905~~844,~~670~~386,~~911~~873.6722 Principal payments on ~~Mortgage~~Morgage Loans 4122,~~025~~785,~~671~~820.4269 Net Liquidation Proceeds (Allocable to Principal) 0.00 Insurance Proceeds (Allocable to Principal) 0.00 Purchase Price per Section 2.02(a) (Allocable to Principal) 0.00 Purchase Price (90+ Day Delinquencies) (Allocable to Principal) 0.00 Loans Removed from the Trust by the Servicer per Section 2.06 0.00 Transfer Deposit Amount 0.00 Total Principal 4122,~~025~~785,~~671~~820.4269 Investor Principal Collections 4122,~~025~~785,~~671~~820.4269 Additional Balances 1815,~~989~~066,~~774~~808.7791 Ending Principal Balances ~~883~~836,~~635~~282,~~015~~861.0244 Total Collections 4829,~~084~~374,~~031~~417.6234 Scheduled Principal Payment 227,~~035~~719,~~896~~011.6578 Mortgage Loans Average Daily Balance ~~904~~846,~~448~~307,~~069~~527.4109 Number of Mortgage Loans at beginning of Collection Period 1413,~~876~~979 Number of Mortgage Loans at end of Collection Period 1413,~~563~~743 Loan Group Balance at beginning of Collection Period ~~905~~844,~~670~~386,~~911~~873.6722 Loan Group Balance at end of Collection Period ~~883~~836,~~635~~282,~~015~~861.0244 Note Principal Balance of the Class A Note ~~883~~831,~~635~~823,~~015~~556.0275 Original Note Principal Balance of the Class A Note 950,000,000.00 Class A Factor 0.9388 Weighted average remaining term of ~~Mortgage~~Morgage Loans ~~294~~291.8901 Weighted Average Loan Rate 10.~~154349~~165072% Weighted Average Net Loan Rate 9.~~534349~~545072% Excess Interest ~~2,701,831~~0.5000 LOAN MODIFICATION SUMMARY Group 1 Loans with Senior Lien Balance Modification(CLTV<80%)-current 0300,000.00 Loans with Senior Lien Balance Modification(CLTV<80%)-cumulative 0307,500.00 Loans with Senior Lien Balance Modification(CLTV<80%)-% of Initial 0.0003% Loans with Senior Lien Balance Modification(CLTV>80%) - current ~~170~~104,000.00 Loans with Senior Lien Balance Modification(CLTV>80%) - cumulative ~~309~~669,000.00 Loans with Senior Lien Balance Modification(CLTV>80%) - % of Initial 0.0307% Loans with Credit Limit Modification - current 75107,~~000~~250.00 Loans with Credit Limit Modification - cumulative ~~102~~285,~~850~~100.00 Loans with Credit Limit Modification - % of Initial 0.0103% Loans with Gross Margin Modification - current 097,000.00 Loans with Gross Margin Modification - cumulative 0136,858.0030 Loans with Gross Margin Modification - % of Initial 0.0001% CREDIT ENHANCER INFORMATION Loan Group 1 Credit Enhancement Draw Amount 0.00 Guaranteed Principal Payment Amount 0.00 Guaranteed Payment 4,~~265~~444,~~961~~624.5790 Has a Rapid Amortization Event occurred? NO Cause of Rapid Amortization Event. NA Has an Event of Servicing Termination occurred? NO Cause of Event of Servicing Termination. NA TRIGGER INFORMATION Stepdown Date: Has a Stepdown Date occurred? NO Trigger Events: Has a Stepdown Delinquency Test ~~occurred~~occured NO Distribution period > 3, NOYES at 25 Rolling Sixth Month Delinquency Rate > 4.50%? NO Rolling Sixth Month Delinquency Rate 01.~~3682~~6611% Has a Stepdown Cumulative Loss Test ~~occurred~~occured NO Percentage of the Cumulative Losses > Required Loss Percentage? NO Percentage of the Cumulative Losses 0.~~0000~~0405% Required Loss Percentage 0.0000% ADDITIONAL POOL PERFORMANCE INFORMATION Any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time. N/A Material breaches of pool asset representations or warranties or transaction covenants. N/A Material changes in the solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures, as applicable, used to originate, acquire or select new pool assets. N/A Material changes as to how delinquencies, charge-offs and uncollectible accounts are defined or determined, addressing the effect of any grace period, re-aging, restructure, partial payments considered current or other practices on delinquency and loss experience (during the Funding Period). N/A Describe if the addition, substitution or removal of pool assets had materially changed the composition of the asset pool as a whole. (If so, full updated pool composition information will be required to the extent such information had note been provided previously. N/A Copyright 2007 Bank of New York & Co. All rights reserved.

Filing Compare · CWHEQ Revolving Home Equity Loan Trust, Series 2007-B