8-K 1 opt01001.txt AUGUST 8-K 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): August 27, 2001 OPTION ONE MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2001-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-14625-07 Pooling and Servicing Agreement) (Commission (State or other File Number) 52-2289264 jurisdiction 52-2289263 of Incorporation) IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, Maryland 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 August 27, 2001 a distribution was made to holders of OPTION ONE MORTGAGE LOAN TRUST, Asset Backed Certificates, Series 2001-1 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 Asset Backed Certificates, Series 2001-1 Trust, relating to the August 27, 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. OPTION ONE MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2001-1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 8/31/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2001-1 Trust, relating to the August 27, 2001 distribution. EX-99.1

Option One Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 67/3031/01 Distribution Date: 78/2527/01 OOMC Series: 2001-1 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 68389FBJ2 SEN 4.~~05500~~04250% ~~112~~110,~~498~~749,~~069~~772.0141 ~~380~~410,~~149~~397.7213 13,~~748~~127,~~296~~317.6018 M-1 68389FBK9 SEN 4.~~45500~~44250% 6,825,000.00 2527,~~337~~793.8139 0.00 M-2 68389FBL7 SEN 4.~~87500~~86250% 4,550,000.00 1820,~~484~~280.3868 0.00 M-3 68389FBM5 SEN 5.~~80500~~79250% 1,625,000.00 78,~~860~~628.9441 0.00 C OPT01001C JUN 0.00000% 1,300,000.00 ~~557~~508,~~103~~271.8160 0.00 R-1 OPT0101R1 RES 0.00000% 0.00 0.00 0.00 R-2 OPT0101R2 RES 0.00000% 0.00 0.00 0.00 P OPT01000P ~~Pre_Pa~~Pre_Pay 0.00000% 100.00 4930,~~118~~890.8441 0.00 Totals ~~126~~125,~~798~~049,~~169~~872.0141 1,~~038~~006,~~055~~261.5062 13,~~748~~127,~~296~~317.6018

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~110~~107,~~749~~622,~~772~~455.4123 23,~~128~~537,~~446~~714.3231 0.00 M-1 0.00 6,825,000.00 2527,~~337~~793.8139 0.00 M-2 0.00 4,550,000.00 1820,~~484~~280.3868 0.00 M-3 0.00 1,625,000.00 78,~~860~~628.9441 0.00 C 0.00 1,300,000.00 ~~557~~508,~~103~~271.8160 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 P 0.00 100.00 4930,~~118~~890.8441 0.00 Totals 0.00 ~~125~~121,~~049~~922,~~872~~555.4123 24,~~786~~133,~~352~~578.1080 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 115,700,000.00 ~~112~~110,~~498~~749,~~069~~772.0141 0.00 13,~~748~~127,~~296~~317.6018 0.00 0.00 M-1 6,825,000.00 6,825,000.00 0.00 0.00 0.00 0.00 M-2 4,550,000.00 4,550,000.00 0.00 0.00 0.00 0.00 M-3 1,625,000.00 1,625,000.00 0.00 0.00 0.00 0.00 C 1,299,900.00 1,300,000.00 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 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 130,000,000.00 ~~126~~125,~~798~~049,~~169~~872.0141 0.00 13,~~748~~127,~~296~~317.6018 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 13,~~748~~127,~~296~~317.6018 ~~110~~107,~~749~~622,~~772~~455.4123 0.~~95721497~~93018544 13,~~748~~127,~~296~~317.6018 M-1 0.00 6,825,000.00 1.00000000 0.00 M-2 0.00 4,550,000.00 1.00000000 0.00 M-3 0.00 1,625,000.00 1.00000000 0.00 C 0.00 1,300,000.00 1.00007693 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 13,~~748~~127,~~296~~317.6018 ~~125~~121,~~049~~922,~~872~~555.4123 0.~~96192210~~93786581 13,~~748~~127,~~296~~317.6018

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 115,700,000.00 ~~972~~957.~~32557485~~21497329 0.00000000 1527.~~11060156~~02953483 0.00000000 M-1 6,825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 1,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 1,299,900.00 1000.07692899 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 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 1527.~~11060156~~02953483 ~~957~~930.~~21497329~~18543846 0.~~95721497~~93018544 1527.~~11060156~~02953483 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 1,000.07692899 1.00007693 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 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 115,700,000.00 4.~~05500~~04250% ~~112~~110,~~498~~749,~~069~~772.0141 ~~380~~410,~~149~~397.7213 0.00 0.00 M-1 6,825,000.00 4.~~45500~~44250% 6,825,000.00 2527,~~337~~793.8139 0.00 0.00 M-2 4,550,000.00 4.~~87500~~86250% 4,550,000.00 1820,~~484~~280.3868 0.00 0.00 M-3 1,625,000.00 5.~~80500~~79250% 1,625,000.00 78,~~860~~628.9441 0.00 0.00 C 1,299,900.00 0.00000% 1,300,000.00 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 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 130,000,000.00 ~~431~~467,~~832~~099.8561 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 0.00 0.00 ~~380~~410,~~149~~397.7213 0.00 ~~110~~107,~~749~~622,~~772~~455.4123 M-1 0.00 0.00 2527,~~337~~793.8139 0.00 6,825,000.00 M-2 0.00 0.00 1820,~~484~~280.3868 0.00 4,550,000.00 M-3 0.00 0.00 78,~~860~~628.9441 0.00 1,625,000.00 C 0.00 0.00 ~~557~~508,~~103~~271.8160 0.00 1,300,000.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 4930,~~118~~890.8441 0.00 100.00 Totals 0.00 0.00 1,~~038~~006,~~055~~261.5062 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 115,700,000.00 4.~~05500~~04250% ~~972~~957.~~32557485~~21497329 3.~~28565013~~54707978 0.00000000 0.00000000 M-1 6,825,000.00 4.~~45500~~44250% 1000.00000000 34.~~71249963~~07229158 0.00000000 0.00000000 M-2 4,550,000.00 4.~~87500~~86250% 1000.00000000 4.~~06250110~~45729231 0.00000000 0.00000000 M-3 1,625,000.00 5.~~80500~~79250% 1000.00000000 45.~~83750154~~30979077 0.00000000 0.00000000 C 1,299,900.00 0.00000% 1000.07692899 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 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 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 0.00000000 0.00000000 3.~~28565013~~54707978 0.00000000 ~~957~~930.~~21497329~~18543846 M-1 0.00000000 0.00000000 34.~~71249963~~07229158 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~06250110~~45729231 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 45.~~83750154~~30979077 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~428~~391.~~57435957~~00823140 0.00000000 1000.07692899 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 ~~491188~~308904.~~40000000~~10000000 0.00000000 1000.00000000 (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 24,~~889~~235,~~622~~617.5979 Liquidations, Insurance Proceeds, Reserve Funds 32.0897 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Total Deposits 24,~~889~~235,~~625~~620.6776 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~103~~102,~~273~~041.5796 Payment of Interest and Principal 24,~~786~~133,~~352~~578.1080 Total Withdrawals (Pool Distribution Amount) 24,~~889~~235,~~625~~620.6776 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 52,~~832~~104.5512 Trustee Fee ~~686~~677.8337 Radian PMI Policy Fee 49,~~754~~260.1947 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~103~~102,~~273~~041.5796

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 32.0897 32.0897 1,000.00

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 54 03 0 57 1940,~~044,305~~047.2350 0207,529.0010 0.00 1,~~044~~147,~~305~~576.2360 30 Days 1211 1 0 19 0 1330 2,~~722~~808,~~515~~893.3934 ~~338,613.93~~ 0.00 4,268,776.91 0.00 37,~~061~~077,~~129~~670.3225 60 Days 45 1 0 8 0 126 1,~~380~~914,~~483~~403.3783 338,473.09 0.00 ~~1,824,334.11~~ 0.00 32,~~204~~252,~~817~~876.4892 90 Days 2 1 144 10 182 ~~392~~7 79,~~502~~269.1697 34736,~~945~~923.4527 ~~3,541,391~~0.6500 87376,~~355~~182.0035 41,~~056~~192,~~194~~375.2659 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 1817 79 22 12 4850 4,~~495~~802,~~500~~567.9214 12,~~417~~015,~~864~~443.6186 54,~~365~~476,~~725~~306.7601 87376,~~355~~182.0035 11,~~366~~670,~~446~~499.2936 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 1.~~231527~~005025% 0.~~000000~~753769% 0.000000% 1.~~231527~~758794% 0.~~834838~~770798% 0.~~000000~~170165% 0.000000% 0.~~834838~~940963% 30 Days 2.~~955665~~763819% 0.~~246305~~000000% 04.~~000000~~773869% 0.000000% 37.~~201970~~537688% 2.~~176433~~303171% 0.~~270695~~000000% 03.~~000000~~500212% 0.000000% 25.~~447128~~803383% 60 Days 01.~~985222~~256281% 0.~~000000~~251256% 10.~~970443~~000000% 0.000000% 21.~~955665~~507538% 1.~~103586~~569728% 0.~~000000~~277533% 10.~~458409~~000000% 0.000000% 21.~~561995~~847262% 90 Days 0.~~492611~~251256% 01.~~246305~~005025% 30.~~448276~~000000% 0.~~246305~~502513% 41.~~433498~~758794% 0.~~313774~~064998% 0.~~027936~~604245% 20.~~831059~~000000% 0.~~069833~~308453% 30.~~242603~~977696% 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 4.~~433498~~271357% 12.~~724138~~261307% 5.~~418719~~527638% 0.~~246305~~502513% 1112.~~822660~~562814% 3.~~593793~~937897% 1.~~133469~~652577% 43.~~289468~~670377% 0.~~069833~~308453% 9.~~086564~~569304%

OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 0.00 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~132~~127,~~169~~599.3210

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 10.~~336495~~339015% Weighted Average Net Coupon 9.~~836495~~839015% Weighted Average Pass-Through Rate 9.~~359128~~359803% Weighted Average Maturity(Stepdown Calculation ) ~~346~~345 Beginning Scheduled Collateral Loan Count ~~412~~406 Number Of Loans Paid In Full 68 Ending Scheduled Collateral Loan Count ~~406~~398 Beginning Scheduled Collateral Balance ~~126~~125,~~798~~049,~~169~~872.0141 Ending Scheduled Collateral Balance ~~125~~121,~~049~~922,~~872~~555.4123 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2001 ~~125~~121,~~090~~957,~~700~~658.9163 Monthly P &I Constant 1,~~150~~134,~~289~~595.2087 Ending Scheduled Balance for Premium Loans ~~125~~121,~~049~~922,~~872~~555.4123 Scheduled Principal 5857,~~082~~185.0342 Unscheduled Principal 13,~~748~~070,~~296~~131.6076

Step Down Date: DoDon't ~~Not~~ Step Down In Effect Since: ~~N/A~~NA Comments: ~~N/A~~NA Trigger Event: Not Triggered In Effect Since: ~~N/A~~NA Comments: ~~N/A~~NA Delinquency Cut-Off Date Balance $122,702,560.10

Miscellaneous Reporting General Excess Available Amt ~~557~~508,~~103~~271.8160 Extra Principal Distribution Am 0.00 Overcollateralization Amt 1,300,000.00 Overcollateralzation Deficit Am 0.00 Overcollateralization ~~Releas~~Release A 0.00 Overcollateralization ~~Increa~~Increase 0.00 Target Overcollateralization Am 1,300,000.00

Filing Compare · OPTION ONE MORT ACCEP CORP ASSET BACKED CERT SER 2001-1