8-K 1 irw0101.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 25, 2001 IRWIN HOME EQUITY LOAN TRUST 2001-1 Home Equity Loan-Backed Term Notes, 2001-1 New York (governing law of 333-43278 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway 21044 Columbia, Maryland (Zip Code) (Address of principal executive offices) 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 25, 2001 a distribution was made to holders of IRWIN HOME EQUITY LOAN TRUST 2001-1, Home Equity Loan-Backed Term Notes, 2001-1 ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description Monthly report distributed to holders of EX-99.1 Irwin Home Equity Loan-Backed Term Notes, Series 2001-1, relating to the July 25, 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. IRWIN HOME EQUITY LOAN TRUST 2001-1 Home Equity Loan-Backed Notes, Series 2001-1 By: Wells Fargo Bank Minnesota, N.A., as Indenture Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 08/07/2001 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Irwin Home Equity Loan- Backed Term Notes, Series 2001-1, relating to the July 25, 2001 distribution.

Irwin Home Equity Loan-Backed Term Notes Series 2001-1 Master Servicer Certificate Remittance Date: 0607/25/2001 Certificate Summary Noteholder Distribution Summary Beginning Interest Principal Aggregate Ending Note Note Distribution Distribution Distribution Note Class of Notes Rate Balance Amount Amount Amount Balance A-1 Term Notes 6.40000% 74,000,000.00 394,666.67 033,071.0068 ~~394~~427,~~666~~738.6735 7473,~~000~~966,~~000~~928.0032 A-2 Term Notes 43.~~26875~~98500% 5248,~~585~~883,~~352~~449.6341 ~~193~~162,~~296~~333.8279 34,~~701~~063,~~903~~422.2214 34,~~895~~225,~~200~~755.0393 4844,~~883~~820,~~449~~027.4127 A-3 Term Notes 5.95000% 35,251,000.00 174,786.21 0.00 174,786.21 35,251,000.00 A-4 Term Notes 6.45000% 25,397,000.00 136,508.88 0.00 136,508.88 25,397,000.00 A-5 Term Notes 6.74000% 12,020,000.00 67,512.33 0.00 67,512.33 12,020,000.00 A-6 Term Notes 7.10000% 39,724,000.00 235,033.67 0.00 235,033.67 39,724,000.00 A-7 Term Notes 6.42000% 9795,~~014~~502,~~099~~358.2141 ~~519~~510,~~025~~937.4362 1,~~511~~562,~~740~~607.8021 2,~~030~~073,~~766~~544.2382 9593,~~502~~939,~~358~~751.4120 A-8 Term Notes 4.~~34875~~06500% 52,~~791~~296,~~719~~982.4888 ~~197~~177,~~692~~156.1603 ~~494~~1,~~736~~218,838.6076 ~~692~~1,~~428~~395,994.7679 5251,~~296~~078,~~982~~144.8812 Variable Funding Notes 4.~~34875~~06500% 0.00 0.00 0.00 0.00 0.00 A-9 IO Term Notes (1) 8.00000% 26,980,000.00 179,866.67 NA 179,866.67 26,980,000.00 ~~388~~383,~~783~~074,~~171~~790.3270 2,~~098~~038,~~388~~801.8285 56,~~708~~877,~~380~~939.6279 78,~~806~~916,~~769~~741.4464 ~~383~~376,~~074~~196,~~790~~850.7091 (1) Class A-9 IO Term Note Balances are Notional

Interest Period Interest Period Number of Interest LIBOR Begin End Accrual Days ~~Class A-2, A-8 and Variable Funding Notes 3.80500% 6/25/01 7/24/01 30~~

Subordinate Notes Beginning Note Prepayment Penalty Excess Spread Release of Aggregate Ending Note Balance Distribution Distribution Overcollateralization Distribution Balance Group I Subordinate Notes 1,064,699.30 56,185.22 0.00 0.00 56,185.22 1,394,615.42 Group II Subordinate Notes 1,667,026.65 92,168.24 0.00 0.00 92,168.24 2,549,482.62 Group III Subordinate Notes 1,455,368.01 30,239.58 0.00 0.00 30,239.58 2,062,681.44 Group IV Subordinate Notes 5,248,433.52 25,945.36 0.00 0.00 25,945.36 5,595,714.14 9,435,527.48 204,538.40 0.00 0.00 204,538.40 11,602,493.62

Noteholder Distribution Factors Summary (Per $1000 Original Principal Amount) Original Interest Principal Aggregate Ending Note Distribution Distribution Distribution Note Class Balance Amount Amount Amount Factor A-1 74,000,000.00 5.33333333 0.~~00000000~~44691458 5.~~33333333~~78024791 ~~1,000~~999.~~00000000~~55308542 A-2 57,358,000.00 32.~~37000624~~83018565 6470.~~54031200~~84316301 6773.~~91031824~~67334865 ~~852~~781.~~25163734~~40847425 A-3 35,251,000.00 4.95833333 0.00000000 4.95833333 1,000.00000000 A-4 25,397,000.00 5.37500000 0.00000000 5.37500000 1,000.00000000 A-5 12,020,000.00 5.61666667 0.00000000 5.61666667 1,000.00000000 A-6 39,724,000.00 5.91666667 0.00000000 5.91666667 1,000.00000000 A-7 100,000,000.00 5.~~19025431~~10937617 15.~~11740799~~62607207 20.~~30766229~~73544825 ~~955~~939.~~02358411~~39751203 A-8 54,000,000.00 3.~~66096589~~28066721 922.~~16178896~~57108813 1225.~~82275486~~85175534 ~~968~~945.~~46264585~~89155780 Total 397,750,000.00

Collateral Collections Summary Aggregate Collections: Group I Group II Home Equity Mortgage Loans - HELs 2,033,216.66 1,391,221.16 High LTV Mortgage Loans - HEL125 NA 3,580,993.69 Home Equity Line of Credit- HELOC NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA Total Collections 2,033,216.66 4,972,214.85 Interest Collections Home Equity Mortgage Loans - HELs 728,608.41 453,261.64 High LTV Mortgage Loans - HEL125 NA 1,337,987.04 Home Equity Line of Credit- HELOC NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA Total Interest Collections 728,608.41 1,791,248.68 Principal Collections Home Equity Mortgage Loans - HELs 1,304,608.25 937,959.52 High LTV Mortgage Loans - HEL125 NA 2,243,006.65 Home Equity Line of Credit- HELOC NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA Total Principal Collections 1,304,608.25 3,180,966.17 Additional Balances Created (Group IV HELOCs) Additional Balances Created (Group IV HELOC 125s) Net Principal Collections for Group IV Additional Balances Purchased Additional Balance Differential Prepayment Penalties Collected 56,185.22 92,168.24 Purchase/Repurchase Price of any Mortgage Loans Purchased 0.00 0.00 Liquidation Proceeds 0.00 0.00 Insurance Proceeds 0.00 0.00 Substitution Adjustment Amounts 0.00 0.00 Periodic Advance 107,255.66 259,569.83 less Servicing Fee 39,020.04 84,786.84 less Periodic Advance Repayment 62,693.10 156,302.40 Transfer from the Collection Acct. to the Trustee Collection Acct. 790,336.15 5,082,863.68 Transfer from the Collection Acct. to the Funding Acct. 1,304,608.25 Total Amount Transferred from the Collection Account 2,094,944.40 5,082,863.68 Prepayment Interest Shortfall 6,021.03 17,052.21

Collateral Collections Summary continued Aggregate Collections: Group III Group IV Total Home Equity Mortgage Loans - HELs NA NA 3,424,437.82 High LTV Mortgage Loans - HEL125 2,136,342.93 NA 5,717,336.62 Home Equity Line of Credit- HELOC NA 935,955.79 935,955.79 High LTV Home Equity Line of Credit - HELOC125s NA 803,771.31 803,771.31 Total Collections 2,136,342.93 1.739,727.10 10,881,501.54 Interest Collections Home Equity Mortgage Loans - HELs NA NA 1,181,870.05 High LTV Mortgage Loans - HEL125 1,181,049.15 NA 2,519,036.19 Home Equity Line of Credit- HELOC NA 203,722.63 203,722.63 High LTV Home Equity Line of Credit - HELOC125s NA 343,134.78 343,134.78 Total Interest Collections 1,181,049.15 546,857.41 4,247,763.65 Principal Collections Home Equity Mortgage Loans - HELs NA NA 2,242,567.77 High LTV Mortgage Loans - HEL125 955,293.78 NA 3,198,300.43 Home Equity Line of Credit- HELOC NA 732,233.16 732,233.16 High LTV Home Equity Line of Credit - HELOC125s NA 460,636.53 460,636.53 Total Principal Collections 955,293.78 1,192,869.69 6,633,737.89 Additional Balances Created (Group IV HELOCs) 270,196.53 Additional Balances Created (Group IV HELOC 125s) 51,115.02 Net Principal Collections for Group IV 871,558.14 Additional Balances Purchased 321,311.55 Additional Balance Differential 0.00 Prepayment Penalties Collected 30,239.58 25,945.36 204,538.40 Purchase/Repurchase Price of any Mortgage Loans Purchased (Principal) 18,528.54 0.00 18,528.54 Purchase/Repurchase Price of any Mortgage Loans Purchased (Interest) 1,639.83 0.00 1,639.83 Liquidation Proceeds 0.00 0.00 0.00 Insurance Proceeds 0.00 0.00 0.00 Substitution Adjustment Amounts 0.00 0.00 0.00 Periodic Advance 251,054.46 92,964.42 710,844.37 less Servicing Fee 55,553.13 31,583.53 210,943.55 less Periodic Advance Repayment 185,331.76 70,912.23 475,239.49 Transfer from the Collection Acct. to the Trustee Collection Acct. 2,196,920.45 1,434,829.57 9,504,949.84 Transfer from the Collection Acct. to the Funding Acct. 1,304,608.25 Total Amount Transferred from the Collection Account 2,196,920.45 1,434,829.57 10,809,558.09 Prepayment Interest Shortfall 5,045.44 4,382.36 32,501.04

Distribution Summary Origin of Funds Summary Group I Group II Group III Transfer from the Collection Acct. to the Trustee Collection Acct. 790,336.15 5,082,863.68 2,196,920.45 Transfers from the Reserve Account to Trustee Collection Account 0.00 0.00 0.00 Transfers from the Funding Account to the Trustee Collection Account 33,071.68 0.00 0.00 Total Amount Transferred to the Trustee Collection Account 823,407.83 5,082,863.68 2,196,920.45 Policy Draw Amount 0.00 0.00 0.00 Direct Transfers from the Collection Acct. to the Funding Acct. 1,304,608.25 NA NA Grand Total 2,128,016.08 5,082,863.68 2,196,920.45 Payments in Order of Priority (Section 3.05 of the Indenture) Group I Group II Group III Prepayment Penaties (due to the Subordinate Noteholders) 56,185.22 92,168.24 30,239.58 Premium for the Policy (due to the Enhancer) 14,176.99 37,992.91 25,833.43 Indenture Trustee Fee (due to the Indenture Trustee) 150.14 339.46 202.00 Class A-1 through A-8 Term Notes Interest Distribution 394,666.67 776,174.87 510,937.62 Class A-9 IO Term Note Interest Distribution NA 112,766.05 67,100.61 Senior Note Principal Distribution Amount 33,071.68 3,180,966.17 973,822.32 Reimbursements to the Enhancer for prior draws on the Policy 0.00 0.00 0.00 Transfer Group I Excess Spread to the Funding Account 325,157.13 NA NA Note Payments to Reduce Overcollateralization Deficiency Amount 0.00 882,455.97 588,784.89 Transfer of Excess Spread to the Reserve Account 0.00 0.00 0.00 Payments of Shortfalls and Losses from the Reserve Account 0.00 0.00 0.00 Payment of any other amount owed to the Enhancer 0.00 0.00 0.00 Payment of any other amount owed to the Indenture Trustee 0.00 0.00 0.00 Payment of Interest Carry-Forward Amounts to the A-8 & Variable Notes NA NA NA Payments from Collections to the Subordinatae Noteholders 0.00 0.00 0.00 Payments of Reserve Releases to the Subordinate Noteholders 0.00 0.00 0.00 Total Distributions from Trustee Collection Account 823,407.83 5,082,863.68 2,196,920.45 Excess Spread 325,157.13 882,455.97 588,784.89 Distributions by Recipient Total Payment to the Enhancer 14,176.99 37,992.91 25,833.43 Total Payment to the Indenture Trustee 150.14 339.46 202.00 Total Senior Noteholder Distribution Amount 427,738.35 4,952,363.07 2,140,645.44 Total Subordinate Noteholder Distribution Amount 56,185.22 92,168.24 30,239.58 Principal Collections from Collection Acct. to Funding Acct. 1,304,608.25 NA NA Excess Spread from Trustee Collection Acct. to Funding Acct. 325,157.13 NA NA Total Transfer to the Reserve Account 0.00 0.00 0.00 Grand Total Distributions 2,128,016.08 5,082,863.68 2,196,920.45

Origin of Funds Summary Group IV Total Transfer from the Collection Acct. to the Trustee Collection Acct. 1,434,829.57 9,504,949.84 Transfers from the Reserve Account to Trustee Collection Account 0.00 0.00 Transfers fro the Funding Account tot he Trustee Collection Account 33,071.68 Total Amount Transferred to the Trustee Collection Account 715,151.41 8,307,845.08 Policy Draw Amount 0.00 0.00 Direct Transfers from the Collection Acct. to the Funding Acct. 0.00 1,304,608.25 Grand Total 1,434,829.57 10,842,629.77 Payments in Order of Priority (Section 3.05 of the Indenture) Group IV Total Prepayment Penaties (due to the Subordinate Noteholders) 25,945.36 204,538.40 Premium for the Policy (due to the Enhancer) 12,769.54 90,772.87 Indenture Trustee Fee (due to the Indenture Trustee) 119.89 811.48 Class A-1 through A-8 Term Notes Interest Distribution 177,156.03 1,858,935.19 Class A-9 IO Term Note Interest Distribution NA 179,866.67 Senior Note Principal Distribution Amount 871,558.14 5,059,418.31 Reimbursements to the Enhancer for prior draws on the Policy 0.00 0.00 Transfer Group I Excess Spread to the Funding Account NA 325,157.13 Note Payments to Reduce Overcollateralization Deficiency Amount 347,280.62 1,818,521.48 Transfer of Excess Spread to the Reserve Account 0.00 0.00 Payments of Shortfalls and Losses from the Reserve Account 0.00 0.00 Payment of any other amount owed to the Enhancer 0.00 0.00 Payment of any other amount owed to the Indenture Trustee 0.00 0.00 Payment of Interest Carry-Forward Amounts to the A-8 & Variable Notes 0.00 0.00 Payments from Collections to the Subordinatae Noteholders 0.00 0.00 Payments of Reserve Releases to the Subordinate Noteholders 0.00 0.00 Total Distributions from Trustee Collection Account 1,434,829.57 9,538,021.52 Excess Spread 347,280.62 2,143,678.61 Distributions by Recipient Total Payment to the Enhancer 12,769.54 90,772.87 Total Payment to the Indenture Trustee 119.89 811.48 Total Senior Noteholder Distribution Amount 1,395,994.79 8,916,741.64 Total Subordinate Noteholder Distribution Amount 25,945.36 204,538.40 Principal Collections from Collection Acct. to Funding Acct. NA 1,304,608.25 Excess Spread from Trustee Collection Acct. to Funding Acct. NA 325,157.13 Total Transfer to the Reserve Account 0.00 0.00 Grand Total Distributions 1,434,829.57 10,842,629.77

Account Summary The Pre-funding Account and the Capitalized Account have been closed with the end of the Pre-funding Period Funding Account Summary Group I Group II Beginning Account Balance 2,998,980.68 Principal Collections Deposited 1,304,608.25 Interest Collections Deposited 325,157.13 Reinvestment Earnings 4,731.06 less Subsequent Mortgage Loans Purchased (4,600,405.44) less Transfers to the Trustee Collection Account (33,071.68) Ending Account Balance (as of 07/25/01) 0.00 Next Payment Date a Subsequent Transfer Date? Yes Associated Expected Subsequent Transfer Balance 4,600,405.44 Reserve Account Summary Zero Balance and No Activity this Period

Account Summary continued Funding Account Summary Group III Group IV Total Beginning Account Balance 2,998,980.68 Principal Collections Deposited 1,304,608.25 Interest Collections Deposited 325,157.13 Reinvestment Earnings 4,731.06 less Subsequent Mortgage Loans Purchased (4,600,405.44) less Transfers to the Trustee Collection Account (33,071.68) Ending Account Balance (as of 07/25/01) 0.00 Next Payment Date a Subsequent Transfer Date Associated Expected Subsequent Transfer Balance 4,600,405.44 Reserve Account Summary Zero Balance and No Activity this Period Crosscollaterlization Commitment Amount 2,873,992.04 Current Crosscollateralization Commitment Percentage (set forth in a notice from 0.75% the Enhancer to the Indenture Trustee and the Master Servicer)

POOL SUMMARY Beginning Pool Balance Group I Group II Home Equity Mortgage Loans - HELs 72,065,718.62 47,414,956.17 High LTV Mortgage Loans - HEL125s NA 115,527,519.89 Home Equity Line of Credit NA NA High LTV Home Equity Line of Credit- HELOC125s NA NA Grand Total 72,065,718.62 162,942,476.06 Beginning Balance from Original Delivery 50,464,435.04 104,816,549.06 Beginning Balance of Pre-funded Subsequent Mortgage Loans 21,601,283.58 58,125,927.00 Ending Pool Balance Home Equity Mortgage Loans - HELs 70,761,138.30 46,476,996.65 High LTV Mortgage Loans - HEL125s NA 113,284,513.24 Home Equity Line of Credit- HELOCs NA NA High LTV Home Equity Line of Credit- HELOC125s NA NA Grand Total 70,761,138.30 159,761,509.89 Beginning # of Mortgage Loans Home Equity Mortgage Loans - HELs 1,845 721 High LTV Mortgage Loans - HEL125s NA 2,639 Home Equity Line of Credit- HELOCs NA NA High LTV Home Equity Line of Credit- HELOC125s NA NA Total 1,845 3,360 Beginning # of Mortgage Loans from Original Delivery 1,277 2,067 Number of Pre-Funded Subsequent Mortgage Loans 568 1,293 Ending # of Mortgage Loans Home Equity Mortgage Loans - HELs 1,812 707 High LTV Mortgage Loans - HEL125s NA 2,590 Home Equity Line of Credit- HELOCs NA NA High LTV Home Equity Line of Credit- HELOC125s NA NA Total 1,812 3,297 Weighted Average Mortgage Interest Rate 12.704% 13.715%

Pool Summary continued Beginning Pool Balance Group III Group IV Total Home Equity Mortgage Loans - HELs NA NA 119,480,674.79 High LTV Mortgage Loans - HEL125s 96,957,726.42 NA 212,485,246.31 Home Equity Line of Credit- HELOCs NA 27,247,814.79 27,247,814.79 High LTV Home Equity Line of Credit- HELOC125s NA 30,297,601.61 30,297,601.61 Grand Total 96,957,726.42 57,545,416.40 389,511,337.50 Beginning Balance from Original Delivery 76,126,308.08 32,809,214.59 264,216,506.77 Beginning Balance of Pre-funded Subsequent Mortgage Loans 20,831,418.34 24,736,201.81 125,294,830.73 Ending Pool Balance Home Equity Mortgage Loans - HELs NA NA 117,238,134.95 High LTV Mortgage Loans - HEL125s 96,002,432.64 NA 209,286,945.88 Home Equity Line of Credit- HELOCs NA 26,785,778.16 26,785,778.16 High LTV Home Equity Line of Credit- HELOC125s NA 29,888,080.10 29,888,080.10 Grand Total 96,002,432.64 56,673,858.26 383,198,939.09 Beginning # of Mortgage Loans Home Equity Mortgage Loans - HELs NA NA 2,566 High LTV Mortgage Loans - HEL125s 2,988 NA 5,627 Home Equity Line of Credit- HELOCs NA 483 483 High LTV Home Equity Line of Credit- HELOC125s NA 735 735 Total 2,988 1,218 9,411 Beginning # of Mortgage Loans from Original Delivery 2,395 737 6,476 Number of Pre-Funded Subsequent Mortgage Loans 593 481 2,935 Ending # of Mortgage Loans Home Equity Mortgage Loans - HELs NA NA 2,519 High LTV Mortgage Loans - HEL125s 2,959 NA 5,549 Home Equity Line of Credit- HELOCs NA 478 478 High LTV Home Equity Line of Credit- HELOC125s NA 726 726 Total 2,959 1,204 9,272 Weighted Average Mortgage Interest Rate 15.488% 12.133% 13.738%

Loans Removed from the Trust Group I Group II Group III Group IV Total Number of Loans 1 1 Principal Balance 0.00 0.00 18,528.54 0.00 18,528.54

Liquidation Loss and Overcollateralization Summary Liquidation Loss Amount for Collection Period Group I Group II Group III Home Equity Mortgage Loans - HELs 0.00 0.00 NA High LTV Mortgage Loans - HEL125 NA 0.00 0.00 Home Equity Line of Credit- HELOCs NA NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA NA Total 0.00 0.00 0.00 Liquidation Loss Amount for last 12 Collection Periods Home Equity Mortgage Loans - HELs 0.00 0.00 NA High LTV Mortgage Loans - HEL125 NA 53,870.95 26,025.56 Home Equity Line of Credit- HELOCs NA NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA NA Total 0.00 53,870.95 26,025.56 Aggregate Liquidation Loss Amount Home Equity Mortgage Loans - HELs 0.00 0.00 NA High LTV Mortgage Loans - HEL125 NA 53,870.95 26,025.56 Home Equity Line of Credit- HELOCs NA NA NA High LTV Home Equity Line of Credit - HELOC125s NA NA NA Total 0.00 53,870.95 26,025.56 Liquidation Loss Amount for Collection Period Group IV Total Home Equity Mortgage Loans - HELs NA 0.00 High LTV Mortgage Loans - HEL125 NA 0.00 Home Equity Line of Credit- HELOCs 0.00 0.00 High LTV Home Equity Line of Credit - HELOC125s 0.00 0.00 Total 0.00 0.00 Liquidation Loss Amount for last 12 Collection Periods Home Equity Mortgage Loans - HELs NA 0.00 High LTV Mortgage Loans - HEL125 NA 79,896.51 Home Equity Line of Credit- HELOCs 0.00 0.00 High LTV Home Equity Line of Credit - HELOC125s 0.00 0.00 Total 0.00 79,896.51 Aggregate Liquidation Loss Amount Home Equity Mortgage Loans - HELs NA 0.00 High LTV Mortgage Loans - HEL125 NA 79,896.51 Home Equity Line of Credit- HELOCs 0.00 0.00 High LTV Home Equity Line of Credit - HELOC125s 0.00 0.00 Total 0.00 79,896.51 Overcollateralization Summary Group I Group II Group III Overcollateralization Target Amount 4,431,669.04 11,547,677.79 7,498,873.01 Beginning Overcollateralization Amount 1,064,699.30 1,667,026.65 1,455,368.01 Beginning Overcollateralization Deficiency Amount 3,366,969.74 9,880,651.14 6,043,505.00 Increase in Overcollateralization 329,916.12 882,455.97 607,313.43 Ending Overcollateralization Amount 1,394,615.42 2,549,482.62 2,062,681.44 Ending Overcollateralization Deficiency Amount 3,037,053.62 8,998,195.17 5,436,191.57 Overcollateralization Trigger Events Group I Group II Group III 12-Month Loss Rate (% of Balance at start of 12 month period) NA NA NA 12-Month Loss Rate Trigger Event Level 0.750% 2.000% 2.750% Aggregate Loss Rate (% of Cut-off Date Balances) 0.00% 0.03% 0.03% Aggregate Loss Rate Trigger Event Level 3.750% 8.420% 11.250% Overcollateralization Summary Group IV Total Overcollateralization Target Amount 7,936,752.16 31,414,972.00 Beginning Overcollateralization Amount 5,248,433.52 9,435,527.48 Beginning Overcollateralization Deficiency Amount 2,688,318.64 21,979,444.52 Increase in Overcollateralization 347,280.62 2,166,966.14 Ending Overcollateralization Amount 5,595,714.14 11,602,493.62 Ending Overcollateralization Deficiency Amount 2,341,038.02 19,812,478.38 Overcollateralization Trigger Events Group IV 12-Month Loss Rate (% of Balance at start of 12 month period) NA 12-Month Loss Rate Trigger Event Level 1.900% Aggregate Loss Rate (% of Cut-off Date Balances) 0.00% Aggregate Loss Rate Trigger Event Level 9.480% Master Servicer Termination Trigger Events Current Level Trigger Level 6-Month Average Delinquency Rate NA 9.500% Rolling 12-Month Loss Rate NA 3.500% Aggregate Loss Rate (% of Cut-off Date Balances) 0.02% 12.500% Rapid Ammortization Event None Servicing Default None

Delinquency Summary Group I Home Equity Mortgage Loans - HELs Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 8 198,855 0.28% 4 127,776 0.18% 2 84,318 0% - - 0% Bankrupt 1 34,945 0% - - 0% - - 0% - - 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% - - 0% - - 0% Total 1 34,945 0% 8 198,855 0.28% 4 127,776 0.18% 2 84,318 0% - - 0% Group I Home Equity Mortgage Loans - HELs 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Group II Home Equity Mortgage Loans - HELs Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 2 186,378 0.40% 1 84,902 0.00% - - 0% - - 0% Bankrupt - - 0.00% - - 0% - - 0% - - 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% - - 0% - - 0% Total - - 0.00% 2 186,378 0.40% 1 84,902 0.00% - - 0% - - 0% 150+ Days 180+ Days # Balance % # Balance % Status Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% High LTV Mortgage Loans - HEL125s Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 9 425,366 0.38% 2 80,064 0.07% 3 158,374 0% - - 0% Bankrupt 14 520,528 0.46% 3 115,715 0% 2 123,394 0.11% 6 250,744 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA 1 70,578 0% - - 0% - - 0% Total 14 520,528 0.46% 12 541,081 0.48% 5 274,036 0.24% 9 409,118 0% - - 0% 150+ Days 180+ Days # Balance % # Balance % Status Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Group II Total Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 11 611,744 0.38% 3 164,965 0.10% 3 158,374 0% - - 0% Bankrupt 14 520,528 0.33% 3 115,715 0% 2 123,394 0.08% 6 250,744 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA 1 70,578 0% - - 0% - - 0% Total 14 520,528 0.33% 14 727,460 0.46% 6 358,938 0.22% 9 409,118 0% - - 0% 150+ Days 180+ Days # Balance % # Balance % Status Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Group III High LTV Mortgage Loans - HEL125s Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 25 837,873 0.87% 11 330,657 0.34% 14 397,028 0.41% - - 0% Bankrupt 13 408,572 0.43% - - 0% 4 - 0.16% 3 119,004 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% - - 0% - - 0% Total 13 408,572 0.43% 25 837,873 0.87% 15 330,657 0.50% 17 516,031 0.54% - - 0% Group III High LTV Mortgage Loans - HEL125s 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Group IV Home Equity Line of Credit- HELOCs Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA - - 0% - - 0% - - 0% - - 0% Bankrupt - - 0% - - 0% - - 0% - - 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% - - 0% - - 0% Total - - 0% - - 0% - - 0% - - 0% - - 0% Group IV Home Equity Line of Credit- HELOCs 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% High LTV Home Equity Line of Credit - HELOC125s Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 14 441,262 1.48% 3 84,649 0.28% 6 233,800 0.78% - - 0% Bankrupt 3 109,242 0.37% - - 0% - - 0% - - 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% 1 174,450 1% - - 0% Total 3 109,242 0.37% 14 441,262 1.48% 3 84,649 0.28% 7 408,250 1.37% - - 0% High LTV Home Equity Line of Credit - HELOC125s 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Group IV Total Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 14 441,262 0.78% 3 84,649 0.15% 6 233,800 0.41% - - 0% Bankrupt 3 109,242 0.19% - - 0% - - 0% - - 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA - - 0% 1 174,450 0% - - 0% Total 3 109,242 0.19% 14 441,262 0.78% 3 84,649 0.15% 7 408,250 0.72% - - 0% Group IV Total 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0% Grand Total Current 30+ Days 60+ Days 90+ Days 120+ Days # Balance % # Balance % # Balance % # Balance % # Balance % Staus Quo NA NA NA 58 2,089,734 0.55% 21 708,048 0.18% 25 873,519 0.23% - - 0% Bankrupt 31 1,073,287 0.28% 3 115,715 0% 6 275,650 0.07% 9 369,748 0% - - 0% REO NA NA NA NA NA NA - - 0% - - 0% - - 0% Foreclosure NA NA NA NA NA NA 1 70,578 0% 1 174,450 0% - - 0% Total 31 1,073,287 0.28% 61 2,205,450 0.58% 28 1,054,276 0.28% 35 1,417,717 0.37% - - 0% Grand Total 150+ Days 180+ Days # Balance % # Balance % Staus Quo - - 0% - - 0% Bankrupt - - 0% - - 0% REO - - 0% - - 0% Foreclosure - - 0% - - 0% Total - - 0% - - 0%

Filing Compare · IRWIN HOME EQUITY LN TR HM EQ LN-BK TERM NT SER 2001-1