8-K 1 cwa01bc1_edgar0106.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): June 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 June 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 June 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: June 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 June 25, 2001 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 6764,~~433~~067,~~353~~121.0725 5.923000% 3,~~366~~737,~~231~~378.8210 ~~332~~316,~~839~~224.7963 34,~~699~~053,~~071~~602.6173 0.00 0.00 A2 15,504,000.00 6.011000% 0.00 77,662.12 77,662.12 0.00 0.00 A3 47,878,000.00 6.237000% 0.00 248,845.91 248,845.91 0.00 0.00 A4 25,859,000.00 6.602000% 0.00 142,267.60 142,267.60 0.00 0.00 A5 25,414,000.00 7.080000% 0.00 149,942.60 149,942.60 0.00 0.00 A6 22,500,000.00 6.565000% 0.00 123,093.75 123,093.75 0.00 0.00 AIO ~~218~~214,~~088~~722,~~353~~121.0726 0.000000% 0.00 ~~586~~575,~~555~~410.2319 ~~586~~575,~~555~~410.2319 0.00 0.00 M1 4,500,000.00 7.247000% 0.00 27,176.25 27,176.25 0.00 0.00 M2 3,375,000.00 7.741000% 0.00 21,771.56 21,771.56 0.00 0.00 B1 2,250,000.00 8.037000% 0.00 15,069.38 15,069.38 0.00 0.00 B2 3,375,000.00 9.021000% 0.00 25,371.56 25,371.56 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - ~~218~~214,~~088~~722,~~353~~121.0725 - 3,~~366~~737,~~231~~378.8210 1,~~750~~722,~~595~~835.7555 5,~~116~~460,~~827~~213.5765 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 6460,~~067~~329,~~121~~743.2515 0.00 A2 15,504,000.00 0.00 A3 47,878,000.00 0.00 A4 25,859,000.00 0.00 A5 25,414,000.00 0.00 A6 22,500,000.00 0.00 AIO ~~214~~210,~~722~~984,~~121~~743.2616 0.00 M1 4,500,000.00 0.00 M2 3,375,000.00 0.00 B1 2,250,000.00 0.00 B2 3,375,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - ~~214~~210,~~722~~984,~~121~~743.2515 - --------------------------------------------------------------------------------

Payment Date: 06/25/01 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 6764,~~433~~067,~~353~~121.0725 5.923000% 126671KP0 4550.~~278523~~270739 4.~~476963~~253475 ~~861~~811.~~754271~~483532 A2 15,504,000.00 6.011000% 126671KQ8 0.000000 5.009167 1,000.000000 A3 47,878,000.00 6.237000% 126671KR6 0.000000 5.197500 1,000.000000 A4 25,859,000.00 6.602000% 126671KS4 0.000000 5.501667 1,000.000000 A5 25,414,000.00 7.080000% 126671KT2 0.000000 5.900000 1,000.000000 A6 22,500,000.00 6.565000% 126671KU9 0.000000 5.470833 1,000.000000 AIO ~~218~~214,~~088~~722,~~353~~121.0726 0.000000% 126671KZ8 0.000000 2.~~606912~~557379 ~~954~~937.~~320539~~709970 M1 4,500,000.00 7.247000% 126671KV7 0.000000 6.039167 1,000.000000 M2 3,375,000.00 7.741000% 126671KW5 0.000000 6.450833 1,000.000000 B1 2,250,000.00 8.037000% 126671KX3 0.000000 6.697500 1,000.000000 B2 3,375,000.00 9.021000% 126671KY1 0.000000 7.517500 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - ~~218~~214,~~088~~722,~~353~~121.0725 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Asset-Backed Certificates, Series 2001-BC1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 210,984,743.16 210,984,743.16 Loan count 2447 2447 Avg loan rate 10.785457% 10.79 Prepay amount 3,555,323.49 3,555,323.49 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 0.00 0.00 Sub servicer fees 89,467.55 89,467.55 Trustee fees 0.00 0.00 Agg advances N/A N/A Adv this period 232,285.17 232,285.17 -------------------------------------------------------------------------------- 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% 214,722,121.25 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 166 14,679,457.55 60 to 89 days 53 4,478,151.25 90 or more 26 2,482,101.64 Foreclosure 16 1,321,004.00 Totals: 261 22,960,714.44 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 5,460,213.65 5,460,213.65 Principal remittance amount 3,737,378.10 3,737,378.10 Interest remittance amount 1,722,835.55 1,722,835.55

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