8-K 1 cwa01bc1_edgar0105.txt CWABS INC ASSETBACKED CERTIFICATES SERIES 2001-BC1 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): May 25, 2001 CWABS, INC. (Depositor) (Issuer in respect of Asset-Backed Certificates, Series 2001-BC1) (Exact name of registrant as specified in charter) Delaware 33-63714 95-4449516 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 155 N. Lake Avenue, Pasadena, CA 91110-7137 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (818)-304-4428 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Item 5. Other Events CWABS, INC. Asset-Backed Certificates Series 2001-BC1 On May 25, 2001, The Bank of New York, as Trustee for CWABS, INC., Asset-Backed Certificates Series 2001-BC1, made a monthly distribution to Certificate holders of principal and/or interest pursuant to the Pooling and Servicing Agreement, dated as of January 1, 2001, among CWABS, INC. as Depositor, Countrywide Home Loans, Seller and Master Servicer and The Bank of New York, as Trustee. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of CWABS, INC., Asset-Backed Certificates Series 2001-BC1 relating to the distribution date of May 25, 2001 prepared by The Bank of New York, as Trustee under the Pooling and Servicing Agreement dated as of January 1, 2001. SIGNATURES 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 thereunto duly authorized. Dated: May 25, 2001 CWABS, INC. By: /s/ Courtney Bartholomew ------------------------------ Name: Courtney Bartholomew Assistant Treasurer The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated May 25, 2001 Payment Date: 05/25/01 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------

Payment Date: 05/25/01 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 214,722,121.26 214,722,121.26 Loan count 2484 2484 Avg loan rate 10.788633% 10.79 Prepay amount 3,183,342.99 3,183,342.99 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 0.00 0.00 Sub servicer fees 90,870.15 90,870.15 Trustee fees 0.00 0.00 Agg advances N/A N/A Adv this period 224,094.77 224,094.77 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 Cumulative losses 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 Fraud 4,183,489.29 4,183,489.29 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 100.000000% 100.000000% 218,088,353.07 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 163 15,025,668.97 60 to 89 days 47 4,157,985.78 90 or more 27 2,775,279.15 Foreclosure 5 455,790.03 Totals: 242 22,414,723.93 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 5,116,827.57 5,116,827.57 Principal remittance amount 3,366,231.82 3,366,231.82 Interest remittance amount 1,750,595.75 1,750,595.75

ASSET BACKED CERTIFICATES SERIES 2001-BC1 8-K