8-K 1 mrf01he1.txt SEPTEMBER 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): September 25, 2001 MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2001-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-72907 Pooling and Servicing Agreement) (Commission 52-2316418 (State or other File Number) 52-2289308 jurisdiction 52-2316417 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 September 25, 2001 a distribution was made to holders of MELLON RESIDENTIAL FUNDING CORPORATION, Mortgage Pass-Through Certificates, 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 Mortgage Pass-Through Certificates, Series 2001-HE1 Trust, relating to the September 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. MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2001-HE1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 9/26/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-HE1 Trust, relating to the September 25, 2001 distribution. EX-99.1

Mellon Residential Funding Corporation Mortgage Pass-Through Certificates Record Date: 78/31/01 Distribution Date: 89/2725/01 MRF 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 R-3 RES 0.00000% 0.00 0.00 0.00 A-1 585525EX2 SEN_FL 3.~~92250~~71000% ~~629~~592,~~470~~472,~~022~~582.8210 21,~~263~~770,~~338~~670.1514 3638,~~997~~005,~~440~~103.7296 A-2 585525EY0 SEN_FI 5.56500% 115,500,000.00 535,631.25 0.00 A-3 585525EZ7 SEN_FI 5.94500% 162,000,000.00 802,575.00 0.00 A-4 585525FA1 SEN_FI 6.61500% 336,173,000.00 1,853,153.66 0.00 S 585525FB9 SEN_IO 1.00000% 0.00 106,680.83 0.00 BIO MELLON01B JUN 0.00000% 422.95 ~~1,868,110~~0.9600 0.00 R1 MELLON01R RES 0.00000% 0.00 0.00 0.00 R2 MELLON01R RES 0.00000% 0.00 0.00 0.00 Totals 1,~~243~~206,~~143~~146,~~445~~005.7700 75,~~429~~068,~~489~~710.8588 3638,~~997~~005,~~440~~103.7296

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses R-3 0.00 0.00 0.00 0.00 A-1 0.00 ~~592~~554,~~472~~467,~~582~~478.1014 39,~~260~~775,~~778~~774.8710 0.00 A-2 0.00 115,500,000.00 535,631.25 0.00 A-3 0.00 162,000,000.00 802,575.00 0.00 A-4 0.00 336,173,000.00 1,853,153.66 0.00 S 0.00 0.00 106,680.83 0.00 BIO 0.00 ~~422.95 1~~2,~~868~~136,~~110~~354.9682 0.00 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 Totals 0.00 1,~~206~~170,~~146~~276,~~005~~832.0596 4443,~~426~~073,~~930~~814.5784 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) R-3 0.00 0.00 0.00 0.00 0.00 0.00 A-1 666,500,000.00 ~~629~~592,~~470~~472,~~022~~582.8210 0.00 3638,~~997~~005,~~440~~103.7296 0.00 0.00 A-2 115,500,000.00 115,500,000.00 0.00 0.00 0.00 0.00 A-3 162,000,000.00 162,000,000.00 0.00 0.00 0.00 0.00 A-4 336,173,000.00 336,173,000.00 0.00 0.00 0.00 0.00 S 0.00 0.00 0.00 0.00 0.00 0.00 BIO 422.95 422.95 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,280,173,422.95 1,~~243~~206,~~143~~146,~~445~~005.7705 0.00 3638,~~997~~005,~~440~~103.7296 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 R-3 0.00 0.00 0.00000000 0.00 A-1 3638,~~997~~005,~~440~~103.7296 ~~592~~554,~~472~~467,~~582~~478.1014 0.~~88893111~~83190919 3638,~~997~~005,~~440~~103.7296 A-2 0.00 115,500,000.00 1.00000000 0.00 A-3 0.00 162,000,000.00 1.00000000 0.00 A-4 0.00 336,173,000.00 1.00000000 0.00 S 0.00 0.00 0.00000000 0.00 BIO 0.00 ~~422~~2,136,354.9582 15,051.~~00000000~~08126256 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 Totals 3638,~~997~~005,~~440~~103.7296 1,~~206~~170,~~146~~276,~~005~~832.0596 0.~~94217391~~91415492 3638,~~997~~005,~~440~~103.7296

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 666,500,000.00 ~~944~~888.~~44114452~~93110593 0.00000000 5557.~~51003859~~02191142 0.00000000 A-2 115,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 162,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 336,173,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 BIO 422.95 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) Per $1000 Denominations

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 5557.~~51003859~~02191142 ~~888~~831.~~93110593~~90919451 0.~~88893111~~83190919 5557.~~51003859~~02191142 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 BIO 0.00000000 0.00000000 15,~~000~~051,081.~~00000000~~2625605 15051.~~00000000~~08126256 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 A-1 666,500,000.00 3.~~92250~~71000% ~~629~~592,~~470~~472,~~022~~582.8210 21,~~263~~770,~~338~~670.1514 0.00 0.00 A-2 115,500,000.00 5.56500% 115,500,000.00 535,631.25 0.00 0.00 A-3 162,000,000.00 5.94500% 162,000,000.00 802,575.00 0.00 0.00 A-4 336,173,000.00 6.61500% 336,173,000.00 1,853,153.66 0.00 0.00 S 0.00 1.00000% 128,017,000.00 106,680.83 0.00 0.00 BIO 422.95 0.00000% 422.95 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,280,173,422.95 5,~~561~~068,~~378~~710.8988 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 R-3 0.00 0.00 0.00 0.00 0.00 A-1 0.00 0.00 21,~~263~~770,~~338~~670.1514 0.00 ~~592~~554,~~472~~467,~~582~~478.1014 A-2 0.00 0.00 535,631.25 0.00 115,500,000.00 A-3 0.00 0.00 802,575.00 0.00 162,000,000.00 A-4 0.00 0.00 1,853,153.66 0.00 336,173,000.00 S 0.00 0.00 106,680.83 0.00 128,017,000.00 BIO 0.00 0.00 ~~1,868,110~~0.9600 0.00 ~~422~~2,136,354.9582 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 75,~~429~~068,~~489~~710.8588 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 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 A-1 666,500,000.00 3.~~92250~~71000% ~~944~~888.~~44114452~~93110593 32.~~39585619~~65666938 0.00000000 0.00000000 A-2 115,500,000.00 5.56500% 1000.00000000 4.63750000 0.00000000 0.00000000 A-3 162,000,000.00 5.94500% 1000.00000000 4.95416667 0.00000000 0.00000000 A-4 336,173,000.00 6.61500% 1000.00000000 5.51249999 0.00000000 0.00000000 S 0.00 1.00000% 1000.00000000 0.83333331 0.00000000 0.00000000 BIO 422.95 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1000 Denominations

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 0.00000000 32.~~39585619~~65666938 0.00000000 ~~888~~831.~~93110593~~90919451 A-2 0.00000000 0.00000000 4.63750000 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 4.95416667 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 5.51249999 0.00000000 1000.00000000 S 0.00000000 0.00000000 0.83333331 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 ~~4416860~~0.~~05437995~~00000000 0.00000000 ~~1000~~5051081.~~00000000~~26256059 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 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 4543,~~079~~553,~~580~~009.8457 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0157,141.0015 Realized Losses 0(3,109.0027) Total Deposits 4543,~~079~~707,~~580~~041.8445 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~652~~633,~~650~~226.2761 Payment of Interest and Principal 4443,~~426~~073,~~930~~814.5784 Total Withdrawals (Pool Distribution Amount) 4543,~~079~~707,~~580~~041.8445 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0.00 AMBAC Premium ~~134~~130,~~673~~665.8377 Master Servicing Fee - Mellon Bank N.A. ~~517~~502,~~976~~560.4484 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~652~~633,~~650~~226.2761

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Net WAC Account 10,000.0002 0.00 0.0100 10,000.02 Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 0.00 0.00 0.00 0.00 Financial Guaranty 0.00 0.00 0.00 0.00

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days ~~108~~96 0 0 0 ~~108~~96 43,~~491~~880,~~246~~609.1359 0.00 0.00 0.00 43,~~491~~880,~~246~~609.1359 60 Days 2421 0 0 0 2421 ~~783~~1,~~577~~093,810.2698 0.00 0.00 0.00 ~~783~~1,~~577~~093,810.2698 90 Days 3 0 1024 0 1327 ~~110~~32,~~446~~968.9756 0.00 ~~190~~681,~~941~~334.2770 0.00 ~~301~~714,~~388~~303.2426 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 ~~135~~120 0 1024 0 ~~145~~144 5,~~385~~007,~~270~~389.3613 0.00 ~~190~~681,~~941~~334.2770 0.00 5,~~576~~688,~~211~~723.6383 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 0.~~352630~~321824% 0.000000% 0.000000% 0.000000% 0.~~352630~~321824% 0.~~372363~~331598% 0.000000% 0.000000% 0.000000% 0.~~372363~~331598% 60 Days 0.~~078362~~070399% 0.000000% 0.000000% 0.000000% 0.~~078362~~070399% 0.~~064965~~093466% 0.000000% 0.000000% 0.000000% 0.~~064965~~093466% 90 Days 0.~~009795~~010057% 0.000000% 0.~~032651~~080456% 0.000000% 0.~~042446~~090513% 0.~~009157~~002817% 0.000000% 0.~~015831~~058220% 0.000000% 0.~~024988~~061037% 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 0.~~440788~~402280% 0.000000% 0.~~032651~~080456% 0.000000% 0.~~473438~~482736% 0.~~446486~~427881% 0.000000% 0.~~015831~~058220% 0.000000% 0.~~462316~~486101% The 90-day delinquency field contains all loans in Foreclosure and REO status.

OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 03,109.0027 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00 Class S 422.95 0.00003304% 2,136,354.82 0.18255124% 0.000000% 0.000000% Class B-IO 0.00 0.00000000% 0.00 0.00000000% 0.182551% 0.000000% Class R-I 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Class R-II 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Class R-III 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

~~Class~~COLLATERAL SSTATEMENT ~~422.95~~Collateral ~~0.00003304%~~Description ~~422.95~~Mixed ~~0.00003507%~~Fixed 0Weighted Average Gross Coupon 7.~~000000~~801024% 0Weighted Average Net Coupon 7.~~000000~~301024% ~~Class~~Weighted BAverage Pass-IOThrough ~~0.00~~Rate 07.~~00000000~~171024% ~~0.00~~Weighted ~~0.00000000%~~Average ~~0.000035%~~Maturity(Stepdown Calculation ) 0~~.000000%~~ ~~Class~~Beginning ~~R-I~~Scheduled ~~0.00~~Collateral ~~0.00000000%~~Loan ~~0.00~~Count ~~0.00000000%~~30,627 ~~0.000000%~~Number ~~0.000000%~~Of ~~Class~~Loans ~~R-II~~Paid ~~0.00~~In ~~0.00000000%~~Full ~~0.00~~797 ~~0.00000000%~~Ending ~~0.000000%~~Scheduled ~~0.000000%~~Collateral ~~Class~~Loan ~~R-III~~Count ~~0.00~~29,830 ~~0.00000000%~~Beginning ~~0.00~~Scheduled ~~0.00000000%~~Collateral 0Balance 1,206,146,005.~~000000%~~05 0Ending Scheduled Collateral Balance 1,170,276,832.~~000000%~~96 ~~Please~~Ending ~~Refer~~Actual toCollateral ~~the~~Balance ~~Prospectus~~at ~~Supplement~~31-Aug-2001 ~~for~~1,170,276,832.96 aMonthly ~~Full~~P ~~Description~~&I ofConstant ~~Loss~~17,585,739.35 ~~Exposure~~Ending Scheduled Balance for Premium Loans 1,170,276,832.96

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 7.801648% Weighted Average Net Coupon 7.301648% Weighted Average Pass-Through Rate 7.171648% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 31,399 Number Of Loans Paid In Full 772 Ending Scheduled Collateral Loan Count 30,627 Beginning Scheduled Collateral Balance 1,243,143,445.77 Ending Scheduled Collateral Balance 1,206,146,005.05 Ending Actual Collateral Balance at 31-Jul-2001 1,206,146,005.05 Monthly P &I Constant 18,562,016.80 Ending Scheduled Balance for Premium Loans 1,206,146,005.05

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