8-K 1 abs01he1.txt JULY 8K UNITED STATES 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): July 16, 2001 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-44300-01 Pooling and Servicing Agreement) (Commission 52-2289286 (State or other File Number) 52-2289284 jurisdiction 52-2289285 of Incorporation) IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On July 16, 2001 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust, relating to the July 16, 2001 distribution. 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. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Sherri Sharps, Vice President By: Sherri Sharps, Vice President Date: 7/16/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust, relating to the July 16, 2001 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan Trust Mortgage Pass-Through Certificates Record Date: 56/3130/01 Distribution Date: 67/1516/01 ABSC Series: 2001-HE1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 04541GBA9 SEN 4.~~35750~~21500% ~~367~~359,~~882~~809,~~546~~916.9142 1,~~380~~305,~~402~~960.6207 8,~~072~~066,~~630~~612.5051 A-2 04541GBB7 SEN 4.~~39250~~25000% ~~368~~359,~~646~~691,~~865~~828.1031 1,~~394~~316,~~381~~372.17 810,~~955~~644,~~036~~209.7832 M-1 04541GBC5 SUB 4.~~75250~~61000% 68,800,000.00 ~~281~~273,~~559~~116.2289 0.00 M-2 04541GBD3 SUB 5.~~27250~~13000% 50,500,000.00 ~~229~~223,~~280~~083.5275 0.00 B 04541GBE1 SUB 6.~~62250~~48000% 46,003,566.00 ~~262~~256,~~344~~699.9290 0.00 BIO 04541GBG6 SUB 3.50000% 0.00 241,666.83 0.00 P 04541GBH4 SEN 0.00000% 100.00 ~~411~~412,~~078~~049.7141 0.00 R-1 04541GBJ0 RES 0.00000% 0.00 0.00 0.00 R-2 ABS0101R2 RES 0.00000% 0.00 0.00 0.00 R-3 ABS0101R3 RES 0.00000% 0.00 0.00 0.00 X 04541GBF8 SUB 0.00000% 0.00 5130.2884 0.00 Totals ~~901~~884,~~833~~805,~~078~~410.0173 4,~~200~~028,~~765~~979.2786 1718,~~027~~710,~~667~~821.2883

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~359~~351,~~809~~743,~~916~~303.4291 9,~~453~~372,~~033~~572.1258 0.00 A-2 0.00 ~~359~~349,~~691~~047,~~828~~619.3100 1011,~~349~~960,~~417~~581.9549 0.00 M-1 0.00 68,800,000.00 ~~281~~273,~~559~~116.2289 0.00 M-2 0.00 50,500,000.00 ~~229~~223,~~280~~083.5275 0.00 B 0.00 46,003,566.00 ~~262~~256,~~344~~699.9290 0.00 BIO 0.00 0.00 241,666.83 0.00 P 0.00 100.00 ~~411~~412,~~078~~049.7141 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 X 0.00 010,752,102.0072 5130.2884 0.00 Totals 0.00 ~~884~~876,~~805~~846,~~410~~691.7363 2122,~~228~~739,~~432~~801.5569 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 376,450,000.00 ~~367~~359,~~882~~809,~~546~~916.9142 0.00 8,~~072~~066,~~630~~612.5051 0.00 0.00 A-2 376,450,000.00 ~~368~~359,~~646~~691,~~865~~828.1031 0.00 810,~~955~~644,~~036~~209.7832 0.00 0.00 M-1 68,800,000.00 68,800,000.00 0.00 0.00 0.00 0.00 M-2 50,500,000.00 50,500,000.00 0.00 0.00 0.00 0.00 B 46,003,566.00 46,003,566.00 0.00 0.00 0.00 0.00 BIO 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 918,203,666.00 ~~901~~884,~~833~~805,~~078~~410.0173 0.00 1718,~~027~~710,~~667~~821.2883 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 8,~~072~~066,~~630~~612.5051 ~~359~~351,~~809~~743,~~916~~303.4291 0.~~95579736~~93436925 8,~~072~~066,~~630~~612.5051 A-2 810,~~955~~644,~~036~~209.7832 ~~359~~349,~~691~~047,~~828~~619.3100 0.~~95548367~~92720844 810,~~955~~644,~~036~~209.7832 M-1 0.00 68,800,000.00 1.00000000 0.00 M-2 0.00 50,500,000.00 1.00000000 0.00 B 0.00 46,003,566.00 1.00000000 0.00 BIO 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 X 0.00 010,752,102.0072 0.00000000 0.00 Totals 1718,~~027~~710,~~667~~821.2883 ~~884~~876,~~805~~846,~~410~~691.7363 0.~~96362653~~95495882 1718,~~027~~710,~~667~~821.2883

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 376,450,000.00 ~~977~~955.~~24145812~~79736066 0.00000000 21.~~44409749~~42811133 0.00000000 A-2 376,450,000.00 ~~979~~955.~~27178935~~48367196 0.00000000 2328.~~78811736~~27522731 0.00000000 M-1 68,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 50,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 46,003,566.00 1000.00000000 0.00000000 0.00000000 0.00000000 BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 21.~~44409749~~42811133 ~~955~~934.~~79736066~~36924933 0.~~95579736~~93436925 21.~~44409749~~42811133 A-2 0.00000000 2328.~~78811736~~27522731 ~~955~~927.~~48367196~~20844468 0.~~95548367~~92720844 2328.~~78811736~~27522731 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 376,450,000.00 4.~~35750~~21500% ~~367~~359,~~882~~809,~~546~~916.9142 1,~~380~~305,~~402~~960.6208 0.00 0.00 A-2 376,450,000.00 4.~~39250~~25000% ~~368~~359,~~646~~691,~~865~~828.1031 1,~~394~~316,~~381~~372.1718 0.00 0.00 M-1 68,800,000.00 4.~~75250~~61000% 68,800,000.00 ~~281~~273,~~559~~116.2289 0.00 0.00 M-2 50,500,000.00 5.~~27250~~13000% 50,500,000.00 ~~229~~223,~~280~~083.5275 0.00 0.00 B 46,003,566.00 6.~~62250~~48000% 46,003,566.00 ~~262~~256,~~344~~699.9290 0.00 0.00 BIO 0.00 3.50000% 82,857,200.00 241,666.83 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 X 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 918,203,666.00 3,~~789~~616,~~635~~899.2863 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 1,~~380~~305,~~402~~960.6207 0.00 ~~359~~351,~~809~~743,~~916~~303.4291 A-2 0.00 0.00 1,~~394~~316,~~381~~372.17 0.00 ~~359~~349,~~691~~047,~~828~~619.3100 M-1 0.00 0.00 ~~281~~273,~~559~~116.2289 0.00 68,800,000.00 M-2 0.00 0.00 ~~229~~223,~~280~~083.5275 0.00 50,500,000.00 B 0.00 0.00 ~~262~~256,~~344~~699.9290 0.00 46,003,566.00 BIO 0.00 0.00 241,666.83 0.00 82,857,200.00 P 0.00 0.00 ~~411~~412,~~078~~049.7141 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 5130.2884 0.00 010,752,102.0072 Totals 0.00 0.00 4,~~200~~028,~~765~~979.2786 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 376,450,000.00 4.~~35750~~21500% ~~977~~955.~~24145812~~79736066 3.~~66689499~~46914618 0.00000000 0.00000000 A-2 376,450,000.00 4.~~39250~~25000% ~~979~~955.~~27178935~~48367196 3.~~70402755~~49680483 0.00000000 0.00000000 M-1 68,800,000.00 4.~~75250~~61000% 1000.00000000 43.~~09243052~~96972224 0.00000000 0.00000000 M-2 50,500,000.00 5.~~27250~~13000% 1000.00000000 4.~~54020832~~41750000 0.00000000 0.00000000 B 46,003,566.00 6.~~62250~~48000% 1000.00000000 5.~~70270835~~58000004 0.00000000 0.00000000 BIO 0.00 3.50000% 1000.00000000 2.91666663 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 3.~~66689499~~46914615 0.00000000 ~~955~~934.~~79736066~~36924933 A-2 0.00000000 0.00000000 3.~~70402755~~49680481 0.00000000 ~~955~~927.~~48367196~~20844468 M-1 0.00000000 0.00000000 43.~~09243052~~96972224 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~54020832~~41750000 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~70270835~~58000004 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 2.91666663 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~4110787~~4120494.10000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2123,~~609~~111,~~564~~383.0109 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses ~~(3,995~~0.~~70)~~00 Total Deposits 2123,~~605~~111,~~568~~383.3109 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~377~~371,~~135~~581.7640 Payment of Interest and Principal 2122,~~228~~739,~~432~~801.5569 Total Withdrawals (Pool Distribution Amount) 2123,~~605~~111,~~568~~383.3109 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0.00 Servicing Fee - Ocwen ~~214~~211,~~125~~021.8621 Servicing Fee - Meritech ~~160~~157,~~238~~789.4495 Servicing Fee - Option One 2,~~771~~770.4624 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~377~~371,~~135~~581.7640

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days ~~332~~708 0 0 0 ~~332~~708 3386,~~009~~796,~~015~~485.2523 0.00 0.00 0.00 3386,~~009~~796,~~015~~485.2523 60 Days 65252 0 0 0 65252 931,~~250~~164,~~832~~093.4340 0.00 0.00 0.00 931,~~250~~164,~~832~~093.4340 90 Days 69269 2032 16152 0 ~~105~~453 634,~~282~~406,~~700~~502.3893 24,~~445~~487,~~019~~919.6388 219,~~653~~865,~~418~~913.61 0.00 1158,~~381~~760,~~138~~336.6242 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~466~~1,229 2032 16152 0 ~~502~~1,413 48152,~~542~~367,~~548~~081.0656 24,~~445~~487,~~019~~919.6388 219,~~653~~865,~~418~~913.61 0.00 53176,~~640~~720,~~986~~915.3005 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 510.~~006031~~820724% 0.000000% 0.000000% 0.000000% 510.~~006031~~820724% 39.~~699960~~892256% 0.000000% 0.000000% 0.000000% 39.~~699960~~892256% 60 Days 03.~~980097~~851444% 0.000000% 0.000000% 0.000000% 03.~~980097~~851444% 13.~~036920~~551793% 0.000000% 0.000000% 0.000000% 13.~~036920~~551793% 90 Days 14.~~040410~~111264% 0.~~301568~~489072% 02.~~241255~~323093% 0.000000% 16.~~583233~~923430% 03.~~704224~~921333% 0.~~274061~~511491% 02.~~297420~~264132% 0.000000% 16.~~275705~~696956% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 718.~~026538~~783433% 0.~~301568~~489072% 02.~~241255~~323093% 0.000000% 721.~~569361~~595598% 517.~~441104~~365382% 0.~~274061~~511491% 02.~~297420~~264132% 0.000000% 620.~~012585~~141005%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days ~~165~~337 0 0 0 ~~165~~337 1943,~~380~~270,~~432~~106.1078 0.00 0.00 0.00 1943,~~380~~270,~~432~~106.1078 60 Days 28111 0 0 0 28111 314,~~933~~766,~~804~~904.2155 0.00 0.00 0.00 314,~~933~~766,~~804~~904.2155 90 Days 29131 814 768 0 44213 316,~~985~~672,~~377~~159.0382 12,~~275~~226,~~984~~001.1275 19,~~509~~142,~~885~~221.9996 0.00 628,~~771~~040,~~247~~383.1453 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~222~~579 814 768 0 ~~237~~661 2774,~~299~~709,~~613~~171.3415 12,~~275~~226,~~984~~001.1275 19,~~509~~142,~~885~~221.9996 0.00 3086,~~085~~077,~~483~~394.4586 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 510.~~067568~~478856% 0.000000% 0.000000% 0.000000% 510.~~067568~~478856% 49.~~353895~~858963% 0.000000% 0.000000% 0.000000% 49.~~353895~~858963% 60 Days 03.~~859951~~451493% 0.000000% 0.000000% 0.000000% 03.~~859951~~451493% 03.~~883746~~364595% 0.000000% 0.000000% 0.000000% 03.~~883746~~364595% 90 Days 04.~~890663~~073383% 0.~~245700~~435323% 02.~~214988~~114428% 0.000000% 16.~~351351~~623134% 03.~~895332~~798701% 0.~~286655~~507188% 02.~~339202~~083028% 0.000000% 16.~~521189~~388917% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 618.~~818182~~003731% 0.~~245700~~435323% 02.~~214988~~114428% 0.000000% 720.~~278870~~553483% 617.~~132973~~022260% 0.~~286655~~507188% 02.~~339202~~083028% 0.000000% 619.~~758830~~612475% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days ~~167~~371 0 0 0 ~~167~~371 1343,~~628~~526,~~583~~378.1545 0.00 0.00 0.00 1343,~~628~~526,~~583~~378.1545 60 Days 37141 0 0 0 37141 516,~~317~~397,~~028~~188.2285 0.00 0.00 0.00 516,~~317~~397,~~028~~188.2285 90 Days 40138 1218 984 0 61240 217,~~297~~734,~~323~~343.3511 12,~~169~~261,~~035~~918.5113 110,~~143~~723,~~532~~691.6265 0.00 430,~~609~~719,~~891~~952.4889 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~244~~650 1218 984 0 ~~265~~752 2177,~~242~~657,~~934~~910.7241 12,~~169~~261,~~035~~918.5113 110,~~143~~723,~~532~~691.6265 0.00 2390,~~555~~643,~~502~~520.8519 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 411.~~946682~~151187% 0.000000% 0.000000% 0.000000% 411.~~946682~~151187% 39.~~048787~~925576% 0.000000% 0.000000% 0.000000% 39.~~048787~~925576% 60 Days 14.~~095972~~238052% 0.000000% 0.000000% 0.000000% 14.~~095972~~238052% 13.~~189448~~739147% 0.000000% 0.000000% 0.000000% 13.~~189448~~739147% 90 Days 14.~~184834~~147881% 0.~~355450~~541028% 02.~~266588~~524797% 0.000000% 17.~~806872~~213706% 04.~~513923~~044066% 0.~~261519~~515798% 02.~~255814~~445386% 0.000000% 17.~~031257~~005251% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 719.~~227488~~537121% 0.~~355450~~541028% 02.~~266588~~524797% 0.000000% 722.~~849526~~602946% 417.~~752158~~708789% 0.~~261519~~515798% 02.~~255814~~445386% 0.000000% 520.~~269491~~669974%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 10.~~432236~~428609% Weighted Average Net Coupon 9.~~932236~~928609% Weighted Average Pass-Through Rate 9.~~932236~~928609% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 6,~~722~~632 Number Of Loans Paid In Full 9089 Ending Scheduled Collateral Loan Count 6,~~632~~543 Beginning Scheduled Collateral Balance ~~905~~891,~~125~~795,~~291~~591.1652 Ending Scheduled Collateral Balance ~~891~~876,~~795~~846,~~591~~691.5263 Ending Actual Collateral Balance at 3130-~~May~~Jun-2001 ~~892~~877,~~145~~418,~~203~~534.4211 Monthly P &I Constant 8,~~283~~575,~~890~~471.4821 Ending Scheduled Balance for Premium Loans ~~891~~876,~~795~~846,~~591~~691.5263 Scheduled Principal 413,018.74 Unscheduled Principal 14,535,881.15 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 20,659,582.00 Overcollateralized Amount 610,~~990~~752,~~180~~102.7972 Overcollateralized Deficiency Amount 139,~~669~~907,~~401~~479.2128 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 3,~~697~~761,~~967~~921.6794 Excess Cash Amount 0.00

Credit Enhancement Percentage 1920.~~3251~~0783% Class A-1 Formula Rate for next cycle 4.~~2150~~0650% Class A-2 Formula Rate for next cycle 4.~~2500~~1000% Class M-1 Formula Rate for next cycle 4.~~6100~~4600% Class M-2 Formula Rate for next cycle 54.~~1300~~9800% Class B Formula Rate for next cycle 6.~~4800~~3300%

Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed Fixed Weighted Average Coupon Rate 11.~~507705~~521417 10.~~449766~~447627 10.~~432236~~428609 Weighted Average Net Rate 11.~~007705~~021417 9.~~949766~~947627 9.~~932236~~928609 Weighted Average Maturity (12) (23) 1 Beginning Loan Count 3,~~296~~256 3,~~426~~376 6,~~722~~632 Loans Paid In Full 40 5049 9089 Ending Loan Count 3,~~256~~216 3,~~376~~327 6,~~632~~543 Beginning Scheduled Balance ~~451~~444,~~281~~961,~~152~~687.2570 ~~453~~446,~~844~~833,~~138~~903.9182 ~~905~~891,~~125~~795,~~291~~591.1652 Ending scheduled Balance ~~444~~438,~~961~~516,~~687~~915.7058 ~~446~~438,~~833~~329,~~903~~776.8205 ~~891~~876,~~795~~846,~~591~~691.5263 Record Date 0506/3130/2001 0506/3130/2001 0506/3130/2001 Principal And Interest Constant 4,~~120~~476,~~430~~587.4997 4,~~163~~098,~~459~~883.9924 8,~~283~~575,~~890~~471.4821 Scheduled Principal ~~203~~204,~~833~~430.9533 ~~211~~208,~~322~~588.3441 ~~415~~413,~~156~~018.2974 Unscheduled Principal 6,~~115~~240,~~630~~341.5979 68,~~798~~295,~~912~~539.7336 1214,~~914~~535,~~543~~881.3215 Scheduled Interest 4,~~327~~272,~~675~~157.2564 3,~~952~~890,~~137~~294.6583 8,~~279~~162,~~812~~452.9047 Servicing Fees ~~188~~185,~~033~~400.8271 ~~189~~186,~~101~~180.7280 ~~377~~371,~~135~~581.5451 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 4,~~139~~086,~~641~~756.4393 3,~~763~~704,~~035~~114.9303 7,~~902~~790,~~677~~870.3696 Realized Loss Amount ~~3,500~~0.8300 ~~494~~0.8700 ~~3,995~~0.7000 Cumulative Realized Loss 3,500.83 494.87 3,995.70 Percentage of Cumulative Losses 0.00 0.00 0.00 Group 1 2 Total 0.00 0.00 0.00 Required Overcollateralization Amount 0.00 0.00 0.00 Overcollateralization Increase Amount 0.00 0.00 0.00 Overcollateralization Reduction Amount 0.00 0.00 0.00 Specified Overcollateralization Amount 0.00 0.00 0.00 Overcollateralization Amount Over collateralization Deficiency Amount 0.00 0.00 0.00 Base Overcollateralization Amount 0.00 0.00 0.00 Extra Principal Distribution Amount 0.00 0.00 0.00 Excess Cash Amount 0.00 0.00 0.00

Filing Compare · ASSET BACKED SEC CORP HOME EQUITY LOAN TR 2001-HE1