8-K 1 opt01002.txt DECEMBER 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): December 26, 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 December 26, 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 December 26, 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/ Sherri Sharps, Vice President By: Sherri Sharps, Vice President Date: 1/8/02 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 December 26, 2001 distribution. EX-99.1

Option One Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 1011/3130/01 Distribution Date: 1112/26/01 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 2.~~68000~~36000% ~~233~~229,~~299~~185,~~109~~035.5185 ~~555~~450,~~770~~730.3257 43,~~114~~817,~~073~~403.6653 M-1 68389FBP8 MEZ 32.~~07000~~75000% 11,688,000.00 3126,~~895~~785.2500 0.00 M-2 68389FBQ6 MEZ 3.~~47000~~15000% 6,875,000.00 2118,~~205~~046.5688 0.00 M-3 68389FBR4 MEZ 4.~~42000~~10000% 5,500,000.00 2118,~~608~~791.8967 0.00 C OPT01002C JUN 0.00000% 3,436,900.00 1,~~206~~291,~~380~~260.6900 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 3899,~~685~~016.0113 0.00 Totals ~~260~~256,~~799~~685,~~109~~035.5185 1,~~875~~904,~~545~~630.7225 43,~~114~~817,~~073~~403.6653

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~229~~225,~~185~~367,~~035~~632.8532 4,~~669~~268,~~843~~134.9810 0.00 M-1 0.00 11,688,000.00 3126,~~895~~785.2500 0.00 M-2 0.00 6,875,000.00 2118,~~205~~046.5688 0.00 M-3 0.00 5,500,000.00 2118,~~608~~791.8967 0.00 C 0.00 3,436,900.00 1,~~206~~291,~~380~~260.6900 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 3899,~~685~~016.0113 0.00 Totals 0.00 ~~256~~252,~~685~~867,~~035~~632.8532 5,~~989~~722,~~619~~033.3878 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 ~~233~~229,~~299~~185,~~109~~035.5185 0.00 43,~~114~~817,~~073~~403.6653 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 ~~260~~256,~~799~~685,~~109~~035.5185 0.00 43,~~114~~817,~~073~~403.6653 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 43,~~114~~817,~~073~~403.6653 ~~229~~225,~~185~~367,~~035~~632.8532 0.~~92600014~~91057629 43,~~114~~817,~~073~~403.6653 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 43,~~114~~817,~~073~~403.6653 ~~256~~252,~~685~~867,~~035~~632.8532 0.~~93340013~~91951866 43,~~114~~817,~~073~~403.6653

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 247,500,000.00 ~~942~~926.~~62266469~~00014485 0.00000000 1615.~~62251984~~42385265 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 1615.~~62251984~~42385265 ~~926~~910.~~00014485~~57629220 0.~~92600014~~91057629 1615.~~62251984~~42385265 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 2.~~68000~~36000% ~~233~~229,~~299~~185,~~109~~035.5185 ~~555~~450,~~770~~730.3257 0.00 0.00 M-1 11,688,000.00 32.~~07000~~75000% 11,688,000.00 3126,~~895~~785.2500 0.00 0.00 M-2 6,875,000.00 3.~~47000~~15000% 6,875,000.00 2118,~~205~~046.5688 0.00 0.00 M-3 5,500,000.00 4.~~42000~~10000% 5,500,000.00 2118,~~608~~791.8967 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 ~~630~~514,~~480~~354.0212 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 ~~555~~450,~~770~~730.3257 0.00 ~~229~~225,~~185~~367,~~035~~632.8532 M-1 0.00 0.00 3126,~~895~~785.2500 0.00 11,688,000.00 M-2 0.00 0.00 2118,~~205~~046.5688 0.00 6,875,000.00 M-3 0.00 0.00 2118,~~608~~791.8967 0.00 5,500,000.00 C 0.00 0.00 1,~~206~~291,~~380~~260.6900 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 3899,~~685~~016.0113 0.00 100.00 Totals 0.00 0.00 1,~~875~~904,~~545~~630.7225 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 2.~~68000~~36000% ~~942~~926.~~62266469~~00014485 21.~~24553665~~82113362 0.00000000 0.00000000 M-1 11,688,000.00 32.~~07000~~75000% 1000.00000000 2.~~72888860~~29166667 0.00000000 0.00000000 M-2 6,875,000.00 3.~~47000~~15000% 1000.00000000 32.~~08444509~~62500073 0.00000000 0.00000000 M-3 5,500,000.00 4.~~42000~~10000% 1000.00000000 3.~~92888909~~41666727 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 0.00000000 21.~~24553665~~82113362 0.00000000 ~~926~~910.~~00014485~~57629220 M-1 0.00000000 0.00000000 2.~~72888860~~29166667 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 32.~~08444509~~62500073 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~92888909~~41666727 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~351~~375.~~00837673~~70485030 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 ~~386850~~990161.~~10000000~~30000000 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 65,~~188~~856,~~111~~672.4379 Liquidations, Insurance Proceeds, Reserve Funds 21.1569 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 3899,~~685~~016.0113 Total Deposits 65,~~226~~955,~~798~~690.5961 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~237~~233,~~179~~656.2183 Payment of Interest and Principal 5,~~989~~722,~~619~~033.3878 Total Withdrawals (Pool Distribution Amount) 65,~~226~~955,~~798~~690.5961 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~108~~106,~~666~~952.2610 Radian PMI Policy Fee ~~127~~125,~~100~~314.3335 Wells Fargo 1,~~412~~390.6238 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~237~~233,~~179~~656.2183

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 21.1569 21.1569 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 12 0 0 12 ~~307~~597,~~879~~507.9544 0.00 0.00 ~~307~~597,~~879~~507.9544 30 Days 20 01 0 0 2021 6,~~315~~212,~~848~~003.1361 0186,167.0017 0.00 0.00 6,~~315~~398,~~848~~170.1378 60 Days 56 0 712 0 1218 1,~~830~~922,~~354~~339.1126 0.00 23,~~045~~822,~~364~~827.1658 0.00 35,~~875~~745,~~718~~166.2784 90 Days 10 12 2430 35 2937 ~~130,993~~0.6200 ~~289~~499,~~929~~826.56 79,~~944~~705,~~946~~517.1791 1,~~034~~837,~~712~~673.1000 912,~~400~~043,~~581~~017.4547 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 26 25 3142 35 6278 8,~~277~~134,~~195~~342.8687 ~~597~~1,~~809~~283,501.5117 913,~~990~~528,~~310~~345.3349 1,~~034~~837,~~712~~673.1000 1924,~~900~~783,~~027~~862.8053 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.~~131579~~266667% 0.000000% 0.000000% 0.~~131579~~266667% 0.~~119900~~236185% 0.000000% 0.000000% 0.~~119900~~236185% 30 Days 2.~~631579~~666667% 0.~~000000~~133333% 0.000000% 0.000000% 2.~~631579~~800000% 2.~~459621~~455509% 0.~~000000~~073589% 0.000000% 0.000000% 2.~~459621~~529098% 60 Days 0.~~657895~~800000% 0.000000% 01.~~921053~~600000% 0.000000% 12.~~578947~~400000% 0.~~712807~~759871% 0.000000% 01.~~796539~~511104% 0.000000% 12.~~509346~~270975% 90 Days 0.~~131579~~000000% 0.~~131579~~266667% 34.~~157895~~000000% 0.~~394737~~666667% 34.~~815789~~933333% 0.~~051014~~000000% 0.~~112909~~197574% 3.~~094051~~836441% 0.~~402955~~726404% 34.~~660929~~760418% 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.~~421053~~466667% 0.~~263158~~666667% 45.~~078947~~600000% 0.~~394737~~666667% 810.~~157895~~400000% 3.~~223442~~215379% 0.~~232809~~507348% 35.~~890591~~347545% 0.~~402955~~726404% 79.~~749796~~796676% (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 Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~254~~301,~~122~~114.4686

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 9.~~541121~~533563% Weighted Average Net Coupon 9.~~041122~~033563% Weighted Average Pass-Through Rate 8.~~449802~~441219% Weighted Average Maturity(Stepdown Calculation ) ~~345~~344 Beginning Scheduled Collateral Loan Count ~~771~~760 Number Of Loans Paid In Full 1110 Ending Scheduled Collateral Loan Count ~~760~~750 Beginning Scheduled Collateral Balance ~~260~~256,~~799~~685,~~109~~035.5185 Ending Scheduled Collateral Balance ~~256~~252,~~685~~867,~~035~~632.8532 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2001 ~~256~~252,~~781~~982,~~320~~363.0739 Monthly P &I Constant 2,~~215~~180,~~455~~296.8932 Special Servicing Fee 0.00 Prepayment Penalties 3899,~~685~~016.0113 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~256~~252,~~685~~867,~~035~~632.8532 Scheduled Principal 141,~~859~~027.3716 Unscheduled Principal 3,~~972~~676,~~214~~376.2937

Yield Maintenance Agreement Payment $0.00 Prepayment Penalties $3899,~~685~~016.0113 Net WAC Carry Over Amount $0.00 Credit Enhancement % 10.~~5444761877~~7134800083% Delinquency % 56.~~13720508540~~9614935839% 3 Month Rolling Average Delinquency % 45.~~22672129060~~4390266716% 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 Trigger Event: NOT TRIGGERED 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: $~~258~~255,~~434~~522,~~294~~526.5182 ~~PMI Refunds/Cash Adjustment $441.36~~ Unscheduled Principal - Voluntary $3,676,376.37 Unscheduled Principal - Involuntary $0.00

General Excess Availabel Amt 1,~~206~~291,~~380~~260.6900 Extra Principal Distribution Amt 0.00 Overcollateralization Amt 3,436,900.00 Overcollateralization Deficit Amt 0.00 Overcollateralization Increase Amt 0.00 Overcollateralization 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.~~735443~~675989 9.~~520732~~519684 9.~~541121~~533563 Weighted Average Net Rate 9.~~235444~~175990 9.~~020732~~019684 9.~~041122~~033563 Weighted Average Maturity ~~345~~344 ~~345~~344 ~~345~~344 Beginning Loan Count 8883 ~~683~~677 ~~771~~760 Loans Paid In Full 52 68 1110 Ending Loan Count 8381 ~~677~~669 ~~760~~750 Beginning Scheduled Balance 2422,~~765~~792,~~829~~104.8925 ~~236~~233,~~033~~892,~~279~~931.6260 ~~260~~256,~~799~~685,~~109~~035.5185 Ending scheduled Balance 2221,~~792~~838,~~104~~413.2526 ~~233~~231,~~892~~029,~~931~~219.6006 ~~256~~252,~~685~~867,~~035~~632.8532 Record Date 1011/3130/2001 1011/3130/2001 1011/3130/2001 Principal And Interest Constant ~~218~~200,~~090~~463.0504 1,~~997~~979,~~365~~833.8428 2,~~215~~180,~~455~~296.8932 Scheduled Principal 1716,~~168~~682.1291 124,~~691~~344.25 141,~~859~~027.3716 Unscheduled Principal 1937,~~956,557~~008.5208 2,~~015~~739,~~656~~368.7729 3,~~972~~676,~~214~~376.2937 Scheduled Interest ~~200~~183,~~921~~780.9313 1,~~872~~855,~~674~~489.5903 2,~~073~~039,~~596~~269.5216 Servicing Fees 109,~~319~~496.0770 9897,~~347~~455.1940 ~~108~~106,~~666~~952.2610 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~134~~123.1346 1,~~278~~266.4992 1,~~412~~390.6238 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 119,~~052~~949.9256 ~~116~~115,~~047~~364.4179 ~~127~~125,~~100~~314.3335 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 ~~190~~174,~~602~~283.8944 1,~~774~~758,~~327~~033.4859 1,~~964~~932,~~930~~317.3703 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 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.~~693386~~645647 8.~~424243~~421298 8.~~449802~~441219

Filing Compare · ASSET BACKED CERTIFICATES SERIES 2001-2