8-K 1 opt01001.txt OCT 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): October 25, 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 October 25, 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 October 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. 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: 11/1/01 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 October 25, 2001 distribution. EX-99.1

Option One Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 89/3130/01 Distribution Date: 910/25/01 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 32.~~83000~~91125% ~~107~~104,~~622~~606,~~455~~806.2366 ~~332~~253,~~045~~780.1646 32,~~015~~522,~~648~~465.5768 M-1 68389FBK9 SEN 43.~~23000~~31125% 6,825,000.00 2318,~~256~~832.1973 0.00 M-2 68389FBL7 SEN 43.~~65000~~73125% 4,550,000.00 1714,~~043~~147.5466 0.00 M-3 68389FBM5 SEN 54.~~58000~~66125% 1,625,000.00 76,~~304~~312.3711 0.00 C OPT01001C JUN 0.00000% 1,300,000.00 ~~571~~634,~~364~~393.8267 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_Pay 0.00000% 100.00 9772,~~334~~267.6518 0.00 Totals ~~121~~118,~~922~~906,~~555~~906.2366 1999,~~048,348~~733.7381 32,~~015~~522,~~648~~465.5768

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~104~~102,~~606~~084,~~806~~340.6698 32,~~347~~776,~~693~~246.7314 0.00 M-1 0.00 6,825,000.00 2318,~~256~~832.1973 0.00 M-2 0.00 4,550,000.00 1714,~~043~~147.5466 0.00 M-3 0.00 1,625,000.00 76,~~304~~312.3711 0.00 C 0.00 1,300,000.00 ~~571~~634,~~364~~393.8267 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 9772,~~334~~267.6518 0.00 Totals 0.00 ~~118~~116,~~906~~384,~~906~~440.6698 43,~~063~~522,~~997~~199.3049 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 ~~107~~104,~~622~~606,~~455~~806.2366 0.00 32,~~015~~522,~~648~~465.5768 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 ~~121~~118,~~922~~906,~~555~~906.2366 0.00 32,~~015~~522,~~648~~465.5768 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 32,~~015~~522,~~648~~465.5768 ~~104~~102,~~606~~084,~~806~~340.6698 0.~~90412106~~88231928 32,~~015~~522,~~648~~465.5768 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 32,~~015~~522,~~648~~465.5768 ~~118~~116,~~906~~384,~~906~~440.6698 0.~~91466851~~89526493 32,~~015~~522,~~648~~465.5768

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 115,700,000.00 ~~930~~904.~~18543846~~12106016 0.00000000 2621.~~06437831~~80177770 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 2621.~~06437831~~80177770 ~~904~~882.~~12106016~~31928245 0.~~90412106~~88231928 2621.~~06437831~~80177770 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 32.~~83000~~91125% ~~107~~104,~~622~~606,~~455~~806.2366 ~~332~~253,~~045~~780.1747 0.00 0.00 M-1 6,825,000.00 43.~~23000~~31125% 6,825,000.00 2318,~~256~~832.1973 0.00 0.00 M-2 4,550,000.00 43.~~65000~~73125% 4,550,000.00 1714,~~043~~147.5466 0.00 0.00 M-3 1,625,000.00 54.~~58000~~66125% 1,625,000.00 76,~~304~~312.3811 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 ~~379~~293,~~649~~072.2897 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 0.01 0.00 ~~332~~253,~~045~~780.1646 0.00 ~~104~~102,~~606~~084,~~806~~340.6698 M-1 0.00 0.00 2318,~~256~~832.1973 0.00 6,825,000.00 M-2 0.00 0.00 1714,~~043~~147.5466 0.00 4,550,000.00 M-3 0.00 0.00 76,~~304~~312.3711 0.00 1,625,000.00 C 0.00 0.00 ~~571~~634,~~364~~393.8267 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 9772,~~334~~267.6518 0.00 100.00 Totals 0.01 0.00 1999,~~048,348~~733.7381 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 32.~~83000~~91125% ~~930~~904.~~18543846~~12106016 2.~~86988047~~19343535 0.00000000 0.00000000 M-1 6,825,000.00 43.~~23000~~31125% 1000.00000000 32.~~40750037~~75937436 0.00000000 0.00000000 M-2 4,550,000.00 43.~~65000~~73125% 1000.00000000 3.~~74583297~~10937582 0.00000000 0.00000000 M-3 1,625,000.00 54.~~58000~~66125% 1000.00000000 43.~~49500308~~88437538 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 0.00000009 0.00000000 2.~~86988038~~19343526 0.00000000 ~~904~~882.~~12106016~~31928245 M-1 0.00000000 0.00000000 32.~~40750037~~75937436 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.~~74583297~~10937582 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 43.~~49499692~~88437538 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~439~~488.~~54521117~~03267174 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 ~~973346~~722671.~~50000000~~80000000 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 43,~~163~~547,~~801~~254.2227 Liquidations, Insurance Proceeds, Reserve Funds 2.8250 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 072,267.0018 Total Deposits 43,~~163~~619,~~804~~523.0495 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 9997,~~806~~324.7446 Payment of Interest and Principal 43,~~063~~522,~~997~~199.3049 Total Withdrawals (Pool Distribution Amount) 43,~~163~~619,~~804~~523.0495 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5049,~~801~~544.0652 Radian PMI Policy Fee 4847,~~345~~135.2488 Special Servicing Fee 0.00 Trustee Fee ~~660~~644.4406 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 9997,~~806~~324.7446

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 2.8250 2.8250 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 3 540,~~977~~701.9856 0.00 0.00 540,~~977~~701.9856 30 Days 1014 0 01 0 1015 14,~~454~~888,~~559~~973.8957 0.00 0283,331.0073 0.00 15,~~454~~172,~~559~~305.8930 60 Days 41 0 25 0 6 ~~951~~196,~~424~~232.6008 0.00 ~~602~~797,~~020~~100.7049 0.00 1993,~~553,445~~332.3057 90 Days 01 76 2426 2 3335 087,361.0024 1,~~670~~542,~~669~~093.5368 5,~~226~~699,~~554~~910.4928 ~~376~~375,~~049~~914.2590 7,~~273~~705,~~273~~280.2710 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 1416 109 2632 2 5259 25,~~405~~172,~~984~~566.4989 2,~~211~~082,~~647~~795.5124 56,~~828~~780,~~575~~342.1950 ~~376~~375,~~049~~914.2590 1014,~~822~~411,~~256~~619.4453 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.~~771208~~785340% 0.000000% 0.000000% 0.~~771208~~785340% 0.~~454797~~464401% 0.000000% 0.000000% 0.~~454797~~464401% 30 Days 23.~~570694~~664921% 0.000000% 0.~~000000~~261780% 0.000000% 23.~~570694~~926702% 14.~~222841~~199067% 0.000000% 0.~~000000~~243349% 0.000000% 14.~~222841~~442416% 60 Days 10.~~028278~~261780% 0.000000% 01.~~514139~~308901% 0.000000% 1.~~542416~~570681% 0.~~799858~~168541% 0.000000% 0.~~506116~~684618% 0.000000% 10.~~305973~~853159% 90 Days 0.~~000000~~261780% 1.~~799486~~570681% 6.~~169666~~806283% 0.~~514139~~523560% 89.~~483290~~162304% 0.~~000000~~075033% 1.~~404523~~324481% 4.~~393937~~895568% 0.~~316143~~322868% 6.~~114603~~617950% 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 34.~~598972~~188482% 2.~~570694~~356021% 68.~~683805~~376963% 0.~~514139~~523560% 1315.~~367609~~445026% 24.~~022699~~442641% 1.~~859321~~788882% 45.~~900053~~823535% 0.~~316143~~322868% 912.~~098215~~377925%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~144~~149,~~166~~138.7904

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 10.~~342480~~342094% Weighted Average Net Coupon 9.~~842480~~842094% Weighted Average Pass-Through Rate 9.~~360151~~359902% Weighted Average Maturity(Stepdown Calculation ) ~~344~~343 Beginning Scheduled Collateral Loan Count ~~398~~389 Number Of Loans Paid In Full 97 Ending Scheduled Collateral Loan Count ~~389~~382 Beginning Scheduled Collateral Balance ~~121~~118,~~922~~906,~~555~~906.2366 Ending Scheduled Collateral Balance ~~118~~116,~~906~~384,~~906~~440.6698 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2001 ~~118~~116,~~949~~430,~~232~~009.7572 Monthly P &I Constant 1,~~107~~080,~~188~~656.6862 Special Servicing Fee 0.00 Prepayment Penalties 072,267.0018 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~118~~116,~~906~~384,~~906~~440.6698 Scheduled Principal 5655,~~370~~867.6898 Unscheduled Principal 2,~~959~~466,~~277~~597.8970

Step Down Date: ~~Don't~~DO ~~Step~~NOT ~~Down~~STEP DOWN In Effect Since: NAN/A Comments: NAN/A Trigger Event: ~~Not~~NOT ~~Triggered~~TRIGGERED In Effect Since: NAN/A Comments: NAN/A Delinquency Cut-Off Date Balance ~~120~~$117,~~120~~534,~~253~~200.6383

Miscellaneous Reporting General Excess Available Amt ~~571~~634,~~364~~393.8267 Extra Principal Distribution Amt 0.00 Overcollateralization Amt 1,300,000.00 Overcollateralzation Deficit Amt 0.00 Overcollateralization Release Amt 0.00 Overcollateralization Increase 0.00 Target Overcollateralization Amt 1,300,000.00

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