8-K 1 opt01002.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 Mortgage Pass-Through Certificates, Series 2001-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-14625-08 Pooling and Servicing Agreement) (Commission 52-2316391 (State or other File Number) 52-2316392 jurisdiction IRS EIN of Incorporation) 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, Mortgage Pass-Through Certificates, Series 2001-2 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 Mortgage Pass-Through Certificates, Series 2001-2 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 Mortgage Pass-Through Certificates, Series 2001-2 Trust By: Wells Fargo Bank MInnesota, N.A. 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 Mortgage Pass-Through Certificates, Series 2001-2 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: 2001-2 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 68389FBN3 SEN 4.~~06500~~05250% ~~243~~242,~~835~~064,~~170~~819.0785 ~~825~~899,~~991~~220.6435 12,~~770~~364,~~350~~897.2299 M-1 68389FBP8 MEZ 4.~~45500~~44250% 11,688,000.00 4347,~~391~~596.7094 0.00 M-2 68389FBQ6 MEZ 4.~~85500~~84250% 6,875,000.00 2730,~~815~~517.1084 0.00 M-3 68389FBR4 MEZ 5.~~80500~~79250% 5,500,000.00 2629,~~606~~203.2585 0.00 C OPT01002C JUN 0.00000% 3,436,900.00 ~~823~~897,~~482~~180.8070 0.00 R-1 OPT0102R1 RES 0.00000% 0.00 0.00 0.00 R-2 OPT0102R2 RES 0.00000% 0.00 0.00 0.00 P OPT01002P JUN 0.00000% 100.00 1119,~~783~~545.1982 0.00 Totals ~~271~~269,~~335~~564,~~170~~819.0785 1,~~759~~923,~~070~~265.6850 12,~~770~~364,~~350~~897.2299

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~242~~239,~~064~~699,~~819~~921.8586 23,~~596~~264,~~341~~118.8634 0.00 M-1 0.00 11,688,000.00 4347,~~391~~596.7094 0.00 M-2 0.00 6,875,000.00 2730,~~815~~517.1084 0.00 M-3 0.00 5,500,000.00 2629,~~606~~203.2585 0.00 C 0.00 3,436,900.00 ~~823~~897,~~482~~180.8070 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 1119,~~783~~545.1982 0.00 Totals 0.00 ~~269~~267,~~564~~199,~~819~~921.8586 34,~~529~~288,~~420~~163.9049 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 247,500,000.00 ~~243~~242,~~835~~064,~~170~~819.0785 0.00 12,~~770~~364,~~350~~897.2299 0.00 0.00 M-1 11,688,000.00 11,688,000.00 0.00 0.00 0.00 0.00 M-2 6,875,000.00 6,875,000.00 0.00 0.00 0.00 0.00 M-3 5,500,000.00 5,500,000.00 0.00 0.00 0.00 0.00 C 3,436,900.00 3,436,900.00 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 275,000,000.00 ~~271~~269,~~335~~564,~~170~~819.0785 0.00 12,~~770~~364,~~350~~897.2299 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 12,~~770~~364,~~350~~897.2299 ~~242~~239,~~064~~699,~~819~~921.8586 0.~~97803968~~96848453 12,~~770~~364,~~350~~897.2299 M-1 0.00 11,688,000.00 1.00000000 0.00 M-2 0.00 6,875,000.00 1.00000000 0.00 M-3 0.00 5,500,000.00 1.00000000 0.00 C 0.00 3,436,900.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 12,~~770~~364,~~350~~897.2299 ~~269~~267,~~564~~199,~~819~~921.8586 0.~~98023571~~97163608 12,~~770~~364,~~350~~897.2299

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 247,500,000.00 ~~985~~978.~~19260634~~03967616 0.00000000 79.~~15293018~~55514339 0.00000000 M-1 11,688,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 6,875,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 3,436,900.00 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 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 79.~~15293018~~55514339 ~~978~~968.~~03967616~~48453277 0.~~97803968~~96848453 79.~~15293018~~55514339 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 1,000.00000000 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 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 247,500,000.00 4.~~06500~~05250% ~~243~~242,~~835~~064,~~170~~819.0785 ~~825~~899,~~991~~220.6438 0.00 0.00 M-1 11,688,000.00 4.~~45500~~44250% 11,688,000.00 4347,~~391~~596.7095 0.00 0.00 M-2 6,875,000.00 4.~~85500~~84250% 6,875,000.00 2730,~~815~~517.1084 0.00 0.00 M-3 5,500,000.00 5.~~80500~~79250% 5,500,000.00 2629,~~606~~203.2585 0.00 0.00 C 3,436,900.00 0.00000% 3,436,900.00 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 275,000,000.00 ~~923~~1,~~804~~006,539.6902 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 0.0002 0.00 ~~825~~899,~~991~~220.6435 0.00 ~~242~~239,~~064~~699,~~819~~921.8586 M-1 0.00 0.00 4347,~~391~~596.7094 0.00 11,688,000.00 M-2 0.00 0.00 2730,~~815~~517.1084 0.00 6,875,000.00 M-3 0.00 0.00 2629,~~606~~203.2585 0.00 5,500,000.00 C 0.00 0.00 ~~823~~897,~~482~~180.8070 0.00 3,436,900.00 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 1119,~~783~~545.1982 0.00 100.00 Totals 0.0002 0.00 1,~~759~~923,~~070~~265.6850 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 247,500,000.00 4.~~06500~~05250% ~~985~~978.~~19260634~~03967616 3.~~33733996~~63321366 0.00000000 0.00000000 M-1 11,688,000.00 4.~~45500~~44250% 1000.00000000 34.~~71250000~~07229209 0.00000000 0.00000000 M-2 6,875,000.00 4.~~85500~~84250% 1000.00000000 4.~~04583273~~43895855 0.00000000 0.00000000 M-3 5,500,000.00 5.~~80500~~79250% 1000.00000000 45.~~83750000~~30979091 0.00000000 0.00000000 C 3,436,900.00 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 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1000 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~~00000008 0.00000000 3.~~33733996~~63321354 0.00000000 ~~978~~968.~~03967616~~48453277 M-1 0.00000000 0.00000000 34.~~71250000~~07229124 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~04583273~~43895855 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 45.~~83750000~~30979091 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~239~~261.~~60045390~~04358579 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 P 0.00000000 0.00000000 ~~117831~~195458.~~90000000~~20000000 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 34,~~775~~532,~~244~~315.7835 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 34,~~775~~532,~~247~~318.8632 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~245~~244,~~826~~154.9683 Payment of Interest and Principal 34,~~529~~288,~~420~~163.9049 Total Withdrawals (Pool Distribution Amount) 34,~~775~~532,~~247~~318.8632 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~113~~112,~~056~~318.2766 Wells Fargo 1,~~466~~460.6312 PMI Fee ~~131~~130,~~304~~376.0605 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~245~~244,~~826~~154.9683

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 3 0 0 3 706,~~550~~217.9145 0.00 0.00 706,~~550~~217.9145 30 Days 1014 0 10 0 1114 3,~~131~~823,~~399~~026.0789 0.00 ~~396,376~~0.7100 0.00 3,~~527~~823,~~775~~026.7889 60 Days 35 0 83 0 118 1,~~061~~517,~~313~~976.7005 0.00 21,~~893~~103,~~711~~052.6095 0.00 32,~~955~~621,~~025~~029.3000 90 Days 0 01 414 0 415 0.00 0379,359.0095 15,~~491~~065,~~512~~107.9796 0.00 15,~~491~~444,~~512~~467.9791 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 1319 34 1317 0 2940 45,~~192~~341,~~712~~002.7794 ~~706~~1,~~550~~085,577.9140 46,~~781~~168,~~601~~160.2891 0.00 912,~~680~~594,~~864~~741.9625 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.~~378310~~381194% 0.000000% 0.000000% 0.~~378310~~381194% 0.~~262044~~264244% 0.000000% 0.000000% 0.~~262044~~264244% 30 Days 1.~~261034~~778907% 0.000000% 0.~~126103~~000000% 0.000000% 1.~~387137~~778907% 1.~~161365~~430453% 0.000000% 0.~~147007~~000000% 0.000000% 1.~~308372~~430453% 60 Days 0.~~378310~~635324% 0.000000% 10.~~008827~~381194% 0.000000% 1.~~387137~~016518% 0.~~393617~~567977% 0.000000% 10.~~073212~~412727% 0.000000% 10.~~466829~~980704% 90 Days 0.000000% 0.~~000000~~127065% 01.~~504414~~778907% 0.000000% 01.~~504414~~905972% 0.000000% 0.~~000000~~141944% 01.~~553168~~895199% 0.000000% 02.~~553168~~037143% 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 12.~~639344~~414231% 0.~~378310~~508259% 12.~~639344~~160102% 0.000000% 35.~~656999~~082592% 1.~~554982~~998430% 0.~~262044~~406188% 12.~~773387~~307926% 0.000000% 34.~~590413~~712543% (7) Delinquencies are stratified according to the information the Servicer has provided. All 90+ delinquencies are reported in the 90 day delinquency field.

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 ~~143~~175,~~958~~319.3198

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 89.~~814684~~561507% Weighted Average Net Coupon 89.~~314684~~061507% Weighted Average Pass-Through Rate 78.~~727494~~474624% Weighted Average Maturity(Stepdown Calculation ) ~~349~~348 Beginning Scheduled Collateral Loan Count ~~797~~793 Number Of Loans Paid In Full 46 Ending Scheduled Collateral Loan Count ~~793~~787 Beginning Scheduled Collateral Balance ~~271~~269,~~335~~564,~~170~~819.0785 Ending Scheduled Collateral Balance ~~269~~267,~~564~~199,~~819~~921.8586 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2001 ~~269~~267,~~630~~259,~~937~~956.9287 Monthly P &I Constant 2,~~147~~290,~~698~~888.33 Ending Scheduled Balance for Premium Loans ~~269~~267,~~564~~199,~~819~~921.8586 Scheduled Principal ~~142~~143,~~800~~016.6075 Unscheduled Principal 12,~~627~~221,~~549~~881.6224

Yield Maintenance Agreement Payment $0.00 Prepayment Penalties $1119,~~783~~545.1982 Net WAC Carry Over Amount $0.00 Credit Enhancement % 10.~~1350296730~~2015908512477% Delinquency % 23.~~0160599157~~0167816865461% 3 Month Rolling Average Delinquency % 1.~~4427082245~~9141744569693% PMI Payments During Prepayment Period $0.00 Cummulative PMI Payments $0.00 PMI Claims Denied During Prepayment ~~Perio~~Period $0.00 Cummulative PMI Claims Denied $0.00 PreFunding Account Beginning Balance $0.00 Subsequent PreFunding Withdrawal $0.00 PreFunding Account Remainder to ~~Bondholde~~Bondholders $0.00 PreFunding Account Ending Balance $0.00 Interest Coverage Account Beginning ~~Balan~~Balance $0.00 Interest Coverage Account Deposits $0.00 Interest Coverage Account W/D to Bond $0.00 Interest Coverage Account W/D to OOMC $0.00 Interest Coverage Account Ending Balance $0.00 Trigger Event: Not Occurred In Effect Since: N/A Comments: N/A Step Down Date: Do Not Step Down In Effect Since: N/A Comments: N/A Delinquency Cut-off Date Ending Balance: $270,157,559.68

Miscellaneous Reporting General Excess ~~Availabel~~Available Amt ~~823~~897,~~482~~180.8070 Extra Principal Distribution Amt 0.00 Overcollateralization Amt 3,436,900.00 Overcollateralization ~~Defici~~Deficit Amt 0.00 Overcollateralization ~~Increa~~Increase 0.00 Overcollateralization ~~Releas~~Release Amt 0.00 Target Overcollateralization Amt 3,436,900.00

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 9.~~775668~~775810 89.~~711550~~538360 89.~~814684~~561507 Weighted Average Net Rate 9.~~275667~~275809 89.~~211550~~038360 89.~~314684~~061507 Weighted Average Maturity ~~349~~348 ~~349~~348 ~~349~~348 Beginning Loan Count 93 ~~704~~700 ~~797~~793 Loans Paid In Full 03 43 46 Ending Loan Count 9390 ~~700~~697 ~~793~~787 Beginning Scheduled Balance 26,~~297~~277,~~778~~981.1504 ~~245~~243,~~037~~286,~~391~~838.9281 ~~271~~269,~~335~~564,~~170~~819.0785 Ending scheduled Balance 2625,~~277~~403,~~981~~126.0437 ~~243~~241,~~286~~796,~~838~~795.8149 ~~269~~267,~~564~~199,~~819~~921.8586 Record Date 0607/3031/2001 0607/3031/2001 0607/3031/2001 Principal And Interest Constant ~~232~~231,~~283~~874.9019 12,~~903~~059,~~628~~014.1614 2,~~135~~290,~~912~~888.0633 Scheduled Principal 1817,~~051~~800.9540 ~~124~~125,~~748~~216.6535 ~~142~~143,~~800~~016.6075 Unscheduled Principal 1857,~~745~~054.1627 1,~~625~~364,~~804~~826.4697 12,~~627~~221,~~549~~881.6224 Scheduled Interest 214,~~231~~073.9579 1,~~778~~933,~~879~~797.5179 12,~~993~~147,~~111~~871.4658 Servicing Fees 10,~~957~~949.3917 ~~102~~101,~~098~~369.8852 ~~113~~112,~~056~~318.2769 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 142.4332 1,~~324~~317.2057 1,~~466~~459.6389 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 11,~~503~~494.0186 ~~119~~118,~~801~~881.0514 ~~131~~130,~~304~~376.0600 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 ~~203~~191,~~274~~487.5344 1,~~676~~832,~~780~~428.6627 12,~~880~~023,~~055~~915.1971 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00

Filing Compare · ASSET BACKED CERTIFICATES SERIES 2001-2