8-K 1 abs01he1.txt OCTOBER 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): October 15, 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 October 15, 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 October 15, 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/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 10/15/01 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 October 15, 2001 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan TTrust Mortgage Pass-Through Certificates Record Date: 89/3130/01 Distribution Date: 910/1715/01 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 3.~~87500~~72250% ~~341~~328,~~062~~042,~~639~~161.1856 1949,~~211,482~~773.9218 139,~~020~~556,~~477~~554.6388 A-2 04541GBB7 SEN 3.~~91000~~75750% ~~335~~326,~~380~~080,~~554~~619.5823 1952,~~202,059~~970.8061 97,~~299~~900,~~935~~892.3562 M-1 04541GBC5 SUB 4.~~27000~~11750% 68,800,000.00 ~~269~~220,~~294~~332.6700 0.00 M-2 04541GBD3 SUB 4.~~79000~~63750% 50,500,000.00 ~~221~~182,~~737~~150.0869 0.00 B 04541GBE1 SUB 65.~~14000~~98750% 46,003,566.00 ~~258~~214,~~923~~236.4005 0.00 BIO 04541GBG6 SUB 3.50000% 0.00 241,666.83 0.00 P 04541GBH4 SEN 0.00000% 100.00 ~~609~~471,~~316~~102.6204 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% 1418,~~655~~333,~~926~~921.8915 281,839,899.1692 0.00 Totals ~~856~~837,~~402~~760,~~786~~367.6594 45,~~014~~072,~~509~~131.4832 2217,~~320~~457,~~412~~447.9850

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~328~~318,~~042~~485,~~161~~606.5668 1410,~~231~~506,~~960~~328.5506 0.00 A-2 0.00 ~~326~~318,~~080~~179,~~619~~726.2360 108,~~501~~853,~~995~~863.1523 0.00 M-1 0.00 68,800,000.00 ~~269~~220,~~294~~332.6700 0.00 M-2 0.00 50,500,000.00 ~~221~~182,~~737~~150.0869 0.00 B 0.00 46,003,566.00 ~~258~~214,~~923~~236.4005 0.00 BIO 0.00 0.00 241,666.83 0.00 P 0.00 100.00 ~~609~~471,~~316~~102.6204 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 1820,~~333~~659,~~921~~582.1500 281,839,899.1692 0.00 Totals 0.00 ~~837~~822,~~760~~628,~~367~~581.9428 2622,~~334~~529,~~922~~578.4682 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 ~~341~~328,~~062~~042,~~639~~161.1856 0.00 139,~~020~~556,~~477~~554.6388 0.00 0.00 A-2 376,450,000.00 ~~335~~326,~~380~~080,~~554~~619.5823 0.00 97,~~299~~900,~~935~~892.3562 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 1418,~~655~~333,~~926~~921.8915 0.00 0.00 0.00 0.00 Totals 918,203,666.00 ~~856~~837,~~402~~760,~~786~~367.6594 0.00 2217,~~320~~457,~~412~~447.9850 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-1 139,~~020~~556,~~477~~554.6388 ~~328~~318,~~042~~485,~~161~~606.5668 0.~~87140965~~84602366 139,~~020~~556,~~477~~554.6388 A-2 97,~~299~~900,~~935~~892.3562 ~~326~~318,~~080~~179,~~619~~726.2360 0.~~86619902~~84521112 97,~~299~~900,~~935~~892.3562 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 1820,~~333~~659,~~921~~582.1500 0.00000000 0.00 Totals 2217,~~320~~457,~~412~~447.9850 ~~837~~822,~~760~~628,~~367~~581.9428 0.~~91239057~~89591080 2217,~~320~~457,~~412~~447.9850

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 ~~905~~871.~~99718204~~40964686 0.00000000 3425.~~58753521~~38598720 0.00000000 A-2 376,450,000.00 ~~890~~866.~~90331938~~19901509 0.00000000 2420.~~70430429~~98789380 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 3425.~~58753521~~38598720 ~~871~~846.~~40964686~~02365966 0.~~87140965~~84602366 3425.~~58753521~~38598720 A-2 0.00000000 2420.~~70430429~~98789380 ~~866~~845.~~19901509~~21112126 0.~~86619902~~84521112 2420.~~70430429~~98789380 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 3.~~87500~~72250% ~~341~~328,~~062~~042,~~639~~161.1856 1949,~~211,482~~773.9218 0.00 0.00 A-2 376,450,000.00 3.~~91000~~75750% ~~335~~326,~~380~~080,~~554~~619.5823 1952,~~202,059~~970.8061 0.00 0.00 M-1 68,800,000.00 4.~~27000~~11750% 68,800,000.00 ~~269~~220,~~294~~332.6700 0.00 0.00 M-2 50,500,000.00 4.~~79000~~63750% 50,500,000.00 ~~221~~182,~~737~~150.0869 0.00 0.00 B 46,003,566.00 65.~~14000~~98750% 46,003,566.00 ~~258~~214,~~923~~236.4005 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% 1418,~~655~~333,~~926~~921.8915 0.00 0.00 0.00 Totals 918,203,666.00 32,~~405~~761,~~164~~129.7036 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 1949,~~211,482~~773.9218 0.00 ~~328~~318,~~042~~485,~~161~~606.5668 A-2 0.00 0.00 1952,~~202,059~~970.8061 0.00 ~~326~~318,~~080~~179,~~619~~726.2360 M-1 0.00 0.00 ~~269~~220,~~294~~332.6700 0.00 68,800,000.00 M-2 0.00 0.00 ~~221~~182,~~737~~150.0869 0.00 50,500,000.00 B 0.00 0.00 ~~258~~214,~~923~~236.4005 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 ~~609~~471,~~316~~102.6204 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 0.00 281,839,899.1692 0.00 1820,~~333~~659,~~921~~582.1500 Totals 0.00 0.00 45,~~014~~072,~~509~~131.4832 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 3.~~87500~~72250% ~~905~~871.~~99718204~~40964686 32.~~21817750~~52297298 0.00000000 0.00000000 A-2 376,450,000.00 3.~~91000~~75750% ~~890~~866.~~90331938~~19901509 32.~~19314597~~53146662 0.00000000 0.00000000 M-1 68,800,000.00 4.~~27000~~11750% 1000.00000000 3.~~91416672~~20250000 0.00000000 0.00000000 M-2 50,500,000.00 4.~~79000~~63750% 1000.00000000 43.~~39083327~~60694436 0.00000000 0.00000000 B 46,003,566.00 65.~~14000~~98750% 1000.00000000 54.~~62833325~~65694442 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 32.~~21817750~~52297298 0.00000000 ~~871~~846.~~40964686~~02365966 A-2 0.00000000 0.00000000 32.~~19314597~~53146662 0.00000000 ~~866~~845.~~19901509~~21112126 M-1 0.00000000 0.00000000 3.~~91416672~~20250000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 43.~~39083327~~60694436 0.00000000 1000.00000000 B 0.00000000 0.00000000 54.~~62833325~~65694442 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 2.91666663 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~6093166~~4711020.~~20000000~~40000000 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 2622,~~691~~409,~~882~~828.1523 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (~~125~~2,284.0075) Prepayment Penalties 471,102.04 Total Deposits 2622,~~691~~878,~~757~~645.1552 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~356~~349,~~834~~066.6970 Payment of Interest and Principal 2622,~~334~~529,~~922~~578.4682 Total Withdrawals (Pool Distribution Amount) 2622,~~691~~878,~~757~~645.1552 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0.00 Servicing Fee - ~~Ocwen~~Meritech ~~203~~147,~~347~~553.4577 Servicing Fee - ~~Meritech~~Ocwen ~~150~~199,~~951~~126.0007 Servicing Fee - Option One 2,~~536~~386.2486 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~356~~349,~~834~~066.6970

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 ~~169~~166 0 0 0 ~~169~~166 1920,~~165~~031,~~128~~354.6466 0.00 0.00 0.00 1920,~~165~~031,~~128~~354.6466 60 Days 4742 0 0 0 4742 54,~~574~~595,~~901~~515.5194 0.00 0.00 0.00 54,~~574~~595,~~901~~515.5194 90 Days 4928 5365 ~~374~~450 38 ~~479~~551 63,~~211~~242,~~506~~283.3976 68,~~749~~216,~~530~~002.9637 4857,~~188~~967,~~906~~370.8281 ~~250~~1,~~049~~191,182.8698 6170,~~399~~616,~~994~~839.0392 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 ~~265~~236 5365 ~~374~~450 38 ~~695~~759 3027,~~951~~869,~~536~~154.5436 68,~~749~~216,~~530~~002.9637 4857,~~188~~967,~~906~~370.8281 ~~250~~1,~~049~~191,182.8698 8695,~~140~~243,~~024~~710.1852 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 2.~~685950~~682612% 0.000000% 0.000000% 0.000000% 2.~~685950~~682612% 2.~~263949~~433054% 0.000000% 0.000000% 0.000000% 2.~~263949~~433054% 60 Days 0.~~746980~~678733% 0.000000% 0.000000% 0.000000% 0.~~746980~~678733% 0.~~658555~~558182% 0.000000% 0.000000% 0.000000% 0.~~658555~~558182% 90 Days 0.~~778767~~452489% 01.~~842339~~050420% 57.~~944056~~272140% 0.~~047680~~129282% 78.~~612842~~904331% 0.~~733756~~393815% 0.~~797312~~997935% 57.~~692485~~040850% 0.~~029538~~144684% 78.~~253091~~577284% 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 43.~~211697~~813833% 01.~~842339~~050420% 57.~~944056~~272140% 0.~~047680~~129282% 1112.~~045772~~265676% 3.~~656260~~385051% 0.~~797312~~997935% 57.~~692485~~040850% 0.~~029538~~144684% 1011.~~175595~~568520% ~~(7) The 90 day category for delinquent, bankruptcy, foreclosure, and REO contains loans that are 90 days or more delinquent.~~

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 7078 0 0 0 7078 89,~~411~~766,~~516~~250.1397 0.00 0.00 0.00 89,~~411~~766,~~516~~250.1397 60 Days 2419 0 0 0 2419 32,~~483~~280,~~634~~844.3588 0.00 0.00 0.00 32,~~483~~280,~~634~~844.3588 90 Days 2813 2634 ~~182~~221 25 ~~238~~273 31,~~494~~533,~~863~~723.5074 34,~~754~~814,~~656~~462.9475 2328,~~839~~967,~~856~~778.8200 ~~195~~718,~~649~~823.8636 3136,~~285~~034,~~027~~787.1285 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 ~~122~~110 2634 ~~182~~221 25 ~~332~~370 1513,~~390~~580,~~013~~819.9859 34,~~754~~814,~~656~~462.9475 2328,~~839~~967,~~856~~778.8200 ~~195~~718,~~649~~823.8636 4348,~~180~~081,~~177~~883.6070 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~267574~~570864% 0.000000% 0.000000% 0.000000% 2.~~267574~~570864% 12.~~985198~~377903% 0.000000% 0.000000% 0.000000% 12.~~985198~~377903% 60 Days 0.~~777454~~626236% 0.000000% 0.000000% 0.000000% 0.~~777454~~626236% 0.~~822171~~555344% 0.000000% 0.000000% 0.000000% 0.~~822171~~555344% 90 Days 0.~~907029~~428477% 01.~~842242~~120633% 57.~~895692~~284113% 0.~~064788~~164799% 78.~~709751~~998022% 0.~~824821~~373434% 01.~~886135~~172233% 57.~~626435~~053122% 0.~~046175~~175020% 78.~~383566~~773809% 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 3.~~952057~~625577% 01.~~842242~~120633% 57.~~895692~~284113% 0.~~064788~~164799% 1012.~~754778~~195122% 3.~~632191~~306680% 01.~~886135~~172233% 57.~~626435~~053122% 0.~~046175~~175020% 1011.~~190936~~707055% 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 9988 0 0 0 9988 10,~~753~~265,~~612~~103.5169 0.00 0.00 0.00 10,~~753~~265,~~612~~103.5169 60 Days 23 0 0 0 23 2,~~091~~314,~~267~~671.1606 0.00 0.00 0.00 2,~~091~~314,~~267~~671.1606 90 Days 2115 2731 ~~192~~229 13 ~~241~~278 21,~~716~~708,~~642~~560.8902 23,~~994~~401,~~874~~539.0262 2428,~~349~~999,~~050~~592.0081 54472,~~400~~359.0062 3034,~~114~~582,~~966~~052.9107 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 ~~143~~126 2731 ~~192~~229 13 ~~363~~389 1514,~~561~~288,~~522~~334.5677 23,~~994~~401,~~874~~539.0262 2428,~~349~~999,~~050~~592.0081 54472,~~400~~359.0062 4247,~~959~~161,~~846~~826.5882 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 32.~~088924~~790108% 0.000000% 0.000000% 0.000000% 32.~~088924~~790108% 2.~~543284~~487954% 0.000000% 0.000000% 0.000000% 2.~~543284~~487954% 60 Days 0.~~717629~~729233% 0.000000% 0.000000% 0.000000% 0.~~717629~~729233% 0.~~494595~~561007% 0.000000% 0.000000% 0.000000% 0.~~494595~~561007% 90 Days 0.~~655226~~475587% 0.~~842434~~982879% 57.~~990640~~260621% 0.~~031201~~095117% 78.~~519501~~814204% 0.~~642500~~414104% 0.~~708303~~824431% 57.~~758674~~028634% 0.~~012866~~114486% 78.~~122343~~381655% 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 43.~~461778~~994927% 0.~~842434~~982879% 57.~~990640~~260621% 0.~~031201~~095117% 1112.~~326053~~333545% 3.~~680379~~463065% 0.~~708303~~824431% 57.~~758674~~028634% 0.~~012866~~114486% 1011.~~160222~~430617% (7) The 90 Day category for delinquent, bankruptcy, foreclosure, and REO contains loans that are 90 days or more delinquent.

OTHER INFORMATION Current Period ~~Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 22,434.69 Current Period~~ Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 10.~~425167~~424962% Weighted Average Net Coupon 9.~~925167~~924962% Weighted Average Pass-Through Rate 9.~~925167~~924962% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 6,~~416~~292 Number Of Loans Paid In Full ~~124~~104 Ending Scheduled Collateral Loan Count 6,~~292~~188 Beginning Scheduled Collateral Balance ~~856~~837,~~402~~760,~~786~~367.6593 Ending Scheduled Collateral Balance ~~837~~822,~~760~~628,~~367~~581.9328 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2001 ~~846~~823,~~535~~300,~~498~~753.2314 Monthly P &I Constant 8,~~454~~150,~~963~~163.5635 Special Servicing Fee 0.00 Prepayment Penalties 471,102.04 Realized Loss Amount 2,284.75 Cumulative Realized Loss 24,719.44 Ending Scheduled Balance for Premium Loans ~~837~~822,~~760~~628,~~367~~581.9328 Scheduled Principal 401,044.55 Unscheduled Principal 14,730,742.09 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 1820,~~333~~659,~~921~~582.1500 Overcollateralized Deficiency Amount ~~2,325,660~~0.8500 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 32,~~678~~327,~~119~~945.2661 Excess Cash Amount 01,839,874.0096

Credit Enhancement Percentage 2122.~~9200~~6060% Class A-1 Formula Rate for next cycle 32.~~7225~~7600% Class A-2 Formula Rate for next cycle 32.~~7575~~7950% Class M-1 Formula Rate for next cycle 43.~~1175~~1550% Class M-2 Formula Rate for next cycle 43.~~6375~~675% Class B Formula Rate for next cycle 5.~~9875~~0250%

Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed Fixed Weighted Average Coupon Rate 1211.~~099066~~746230 10.~~453651~~453935 10.~~425167~~424962 Weighted Average Net Rate 11.~~599066~~246230 9.~~953651~~953935 9.~~925167~~924962 Weighted Average Maturity (45) (56) 1 Beginning Loan Count 3,~~157~~087 3,~~259~~205 6,~~416~~292 Loans Paid In Full 7053 5451 ~~124~~104 Ending Loan Count 3,~~087~~034 3,~~205~~154 6,~~292~~188 Beginning Scheduled Balance ~~429~~418,~~548~~673,~~748~~879.8378 ~~426~~419,~~854~~086,~~037~~488.8215 ~~856~~837,~~402~~760,~~786~~367.6593 Ending ~~scheduled~~Scheduled Balance ~~418~~410,~~673~~391,~~879~~543.7875 ~~419~~412,~~086~~237,~~488~~037.1553 ~~837~~822,~~760~~628,~~367~~581.9328 Record Date 0809/3130/2001 0809/3130/2001 0809/3130/2001 Principal And Interest Constant 4,~~533~~298,~~432~~179.3561 3,~~921~~851,~~531~~983.2174 8,~~454~~150,~~963~~163.5635 Scheduled Principal ~~202~~199,~~483~~979.3476 ~~203~~201,~~045~~064.1479 ~~405~~401,~~528~~044.4855 Unscheduled Principal 108,~~672~~082,~~385~~356.7127 76,~~564~~648,~~504~~385.5382 1814,~~236~~730,~~890~~742.2409 Scheduled Interest 4,~~330~~098,~~949~~199.0185 3,~~718~~650,~~486~~918.0795 87,~~049~~749,~~435~~118.0880 Servicing Fees ~~178~~174,~~978~~447.6445 ~~177~~174,~~855~~619.8537 ~~356~~349,~~834~~066.4982 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 43,~~151~~923,~~970~~752.3740 3,~~540~~476,~~630~~299.2258 7,~~692~~400,~~600~~051.5998 Realized Loss Amount 0145.00 ~~125~~2,139.0075 ~~125~~2,284.0075 Cumulative Realized Loss 10,~~583~~728.24 1113,~~851~~991.4520 2224,~~434~~719.6944 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 11.246230 9.953935 9.924962

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