8-K 1 ecr0502_8k0506.txt 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, 2005 ECR (Depositor) (Issuer in respect of Encore Credit Receivables Trust, Asset-Backed Notes, (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) , , N/A 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. []Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) []Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) []Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) []Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 8 - Other Events Item 8.01 Other Events Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits 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, 2005 ECR By: /s/ Maria Tokarz ------------------------------ Name: Maria Tokarz Assistant Treasurer The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated June 25, 2005 Payment Date: 06/25/05 ------------------------------------------------------------ ECC CAPITAL CORPORATION Encore Credit Receivables Trust, Asset-Backed Notes, Series 2005-2 ------------------------------------------------------------

~~UNITED~~Class ~~STATES~~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 1A 576,800,000.00 3.320630% 2,387,986.50 1,649,320.03 4,037,306.53 0.00 0.00 2A1 287,153,000.00 3.200630% 5,172,148.76 791,421.82 5,963,570.58 0.00 0.00 2A2 102,936,000.00 3.250630% 0.00 288,133.68 288,133.68 0.00 0.00 2A3 132,350,000.00 3.340630% 0.00 380,725.11 380,725.11 0.00 0.00 2A4 54,361,000.00 3.440630% 0.00 161,058.85 161,058.85 0.00 0.00 C 1,400,000,091.00 0.000000% 0.00 0.00 0.00 0.00 0.00 C1 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 C2 1,400,000,091.00 0.000000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate M1 52,500,000.00 3.530630% 0.00 159,613.90 159,613.90 0.00 0.00 M2 44,100,000.00 3.550630% 0.00 134,835.17 134,835.17 0.00 0.00 M3 28,000,000.00 3.580630% 0.00 86,332.97 86,332.97 0.00 0.00 M4 26,600,000.00 3.710630% 0.00 84,994.04 84,994.04 0.00 0.00 M5 22,400,000.00 3.740630% 0.00 72,152.60 72,152.60 0.00 0.00 M6 23,100,000.00 3.790630% 0.00 75,401.95 75,401.95 0.00 0.00 M7 18,900,000.00 3.806683% 0.00 61,953.77 61,953.77 0.00 0.00 M8 16,800,000.00 3.806683% 0.00 55,070.01 55,070.01 0.00 0.00 B 14,000,000.00 3.806683% 0.00 45,891.68 45,891.68 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 1,400,000,000.00 - 7,560,135.26 4,046,905.57 11,607,040.83 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior 1A 574,412,013.50 0.00 2A1 281,980,851.24 0.00 2A2 102,936,000.00 0.00 2A3 132,350,000.00 0.00 2A4 54,361,000.00 0.00 C 1,392,982,219.04 0.00 C1 0.00 0.00 C2 1,392,982,219.04 0.00 -------------------------------------------------------------------------------- Subordinate M1 52,500,000.00 0.00 M2 44,100,000.00 0.00 M3 28,000,000.00 0.00 M4 26,600,000.00 0.00 M5 22,400,000.00 0.00 M6 23,100,000.00 0.00 M7 18,900,000.00 0.00 M8 16,800,000.00 0.00 B 14,000,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 1,392,439,864.74 - --------------------------------------------------------------------------------

Payment Date: 06/25/05 ------------------------------------------------------------ ECC CAPITAL CORPORATION Encore Credit Receivables Trust, Asset-Backed Notes, Series 2005-2 ------------------------------------------------------------

~~SECURITIES~~Class ~~AND~~Information ~~EXCHANGE~~Current ~~COMMISSION~~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 1A 576,800,000.00 3.320630% 126673H39 4.140060 2.859431 995.859940 2A1 287,153,000.00 3.200630% 126673H54 18.011822 2.756098 981.988178 2A2 102,936,000.00 3.250630% 126673H62 0.000000 2.799154 1,000.000000 2A3 132,350,000.00 3.340630% 126673H70 0.000000 2.876654 1,000.000000 2A4 54,361,000.00 3.440630% 126673H88 0.000000 2.962765 1,000.000000 C 1,400,000,091.00 0.000000% 12667OTC2 0.000000 0.000000 994.987235 C1 0.00 0.000000% 126673M74 0.000000 0.000000 0.000000 C2 1,400,000,091.00 0.000000% 126673M82 0.000000 0.000000 994.987235 ------------------------------------------------------------------------------------------------------------------------ Subordinate M1 52,500,000.00 3.530630% 126673H96 0.000000 3.040265 1,000.000000 M2 44,100,000.00 3.550630% 126673J29 0.000000 3.057487 1,000.000000 M3 28,000,000.00 3.580630% 126673J37 0.000000 3.083320 1,000.000000 M4 26,600,000.00 3.710630% 126673J45 0.000000 3.195265 1,000.000000 M5 22,400,000.00 3.740630% 126673J52 0.000000 3.221098 1,000.000000 M6 23,100,000.00 3.790630% 126673J60 0.000000 3.264154 1,000.000000 M7 18,900,000.00 3.806683% 126673J78 0.000000 3.277977 1,000.000000 M8 16,800,000.00 3.806683% 126673J86 0.000000 3.277977 1,000.000000 B 14,000,000.00 3.806683% 126673J94 0.000000 3.277977 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 1,400,000,000.00 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ ECC CAPITAL CORPORATION Encore Credit Receivables Trust, Asset-Backed Notes, Series 2005-2 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 697,783,367.60 695,198,851.44 1,392,982,219.04 Loan count 3824 2676 6500 Avg loan rate 7.431708% 7.161792% 7.30 Prepay amount 1,902,624.57 4,509,190.65 6,411,815.22 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 291,666.70 289,126.59 580,793.28 Sub servicer fees 0.00 0.00 0.00 Trustee fees 3,791.67 3,791.67 7,583.33 Agg advances N/A N/A N/A Adv this period 0.00 0.00 0.00 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 0.00 Fraud 14,000,001.44 14,000,000.39 28,000,001.83 Special Hazard 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 82.400000% 100.000000% 1,153,600,000.00 ----------------------------------------------------------------------------- Junior 17.600000% 0.000000% 246,400,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 1 187,669.80 60 to 89 days 0 0.00 90 or more 0 0.00 Foreclosure 0 0.00 Totals: 1 187,669.80 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 11,607,040.83 11,607,040.83 Principal remittance amount 7,560,135.26 7,560,135.26 Interest remittance amount 4,046,905.57 4,046,905.57

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 24, 2005

CWABS, Inc. (as depositor under an Indenture, dated as of May 27, 2005, providing for, inter alia, the issuance of Encore Credit Receivables Trust 2005-2, Asset-Backed Notes, Series 2005-2)

CWABS, Inc.

(Exact name of registrant as specified in its charter)

DELAWARE	333-118926	95-4596514
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
4500 Park Granada Calabasas, California		91302
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code, is (818) 225-3237

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01 Completion of Acquisition or Disposition of Assets

On May 27, 2005, a single series of bonds, entitled CWABS, Inc., Encore Credit Receivables Trust 2005-2, Asset-Backed Notes, Series 2005-2 (the “Notes”), were issued pursuant to an indenture, dated as of May 27, 2005 (the “Agreement”), between Encore Credit Receivables Trust 2005-2, a Delaware statutory trust, as Issuer (the “Issuer”), and The Bank of New York, as Indenture Trustee (the “Indenture Trustee”).

Item 8.01. Other Events.

Description of the Initial Mortgage Pool1

The Notes, issued pursuant to the Agreement, evidence in the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”), consisting of mortgage loans (the “Mortgage Pool”). The Mortgage Pool is comprised of one- to four-family, fixed and adjustable-rate first liens mortgage loans (the “Mortgage Loans”). The Mortgage Loans have an initial aggregate principal balance of approximately $1,400,000,092.

The tables attached as an exhibit hereto describe certain characteristics of the Initial Mortgage Pool as of the Cut-off Date, with respect to the Initial Mortgage Loans.

Item 9.01.			Financial Statements and Exhibits.
	(a)	Not applicable.
	(b)	Not applicable.
	(c)	Exhibits:

_________________________

1 Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus dated October 25, 2004 and the Prospectus Supplement dated May 25, 2005 of CWABS, Inc., relating to its Encore Credit Receivables Trust 2005-2, Asset-Backed Notes, Series 2005-2.

Exhibit No.	Description
99.1	Characteristics of the Final Mortgage Loans in the Mortgage Pool as of the Cut-off Date, relating to the Company’s Encore Credit Receivables Trust 2005-2, Asset-Backed Notes, Series 2005-2.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized.

CWABS, INC. By: /s/ Ruben Avilez Name: Ruben Avilez Title: Vice President

Dated: June 24, 2005

Filing Compare · ENCORE CREDIT RECEIVABLES TRUST 2005-2