8-K 1 cwa05bc5_8k0601.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): January 25, 2006 CWA (Depositor) (Issuer in respect of Asset Backed Certificates, Series 2005-BC5) (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: January 25, 2006 CWA By: /s/ Cirino Emanuele ------------------------------ Name: Cirino Emanuele Assistant Treasurer The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated January 25, 2006 Payment Date: 01/25/06 ------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2005-BC5 ------------------------------------------------------------

~~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 279,136,000.00 4.613750% 16,261,227.92 1,001,671.78 17,262,899.70 0.00 0.00 2A1 246,227,000.00 4.603750% 6,897,512.80 881,663.65 7,779,176.45 0.00 0.00 2A2 27,358,000.00 4.613750% 766,374.75 98,173.42 864,548.17 0.00 0.00 3A1 104,881,000.00 4.478750% 9,565,428.43 365,350.05 9,930,778.48 0.00 0.00 3A2 74,603,000.00 4.628750% 0.00 268,581.16 268,581.16 0.00 0.00 3A3 21,145,000.00 4.748750% 0.00 78,098.47 78,098.47 0.00 0.00 P 100.00 0.000000% 0.00 524,992.22 524,992.22 0.00 0.00 C 950,000,000.00 0.000000% 0.00 1,640,431.66 1,640,431.66 0.00 0.00 Residual AR 100.00 0.000000% 100.00 0.00 100.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate M1 34,200,000.00 4.838750% 0.00 128,710.75 128,710.75 0.00 0.00 M2 30,400,000.00 4.858750% 0.00 114,882.44 114,882.44 0.00 0.00 M3 19,475,000.00 4.878750% 0.00 73,899.51 73,899.51 0.00 0.00 M4 17,100,000.00 5.098750% 0.00 67,813.38 67,813.38 0.00 0.00 M5 15,675,000.00 5.138750% 0.00 62,649.93 62,649.93 0.00 0.00 M6 15,200,000.00 5.218750% 0.00 61,697.22 61,697.22 0.00 0.00 M7 12,825,000.00 6.348750% 0.00 63,328.78 63,328.78 0.00 0.00 M8 11,400,000.00 6.378750% 0.00 56,558.25 56,558.25 0.00 0.00 B 11,875,000.00 6.378750% 0.00 58,914.84 58,914.84 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 921,500,200.00 - 33,490,643.90 5,547,417.52 39,038,061.42 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior 1A 262,874,772.08 0.00 2A1 239,329,487.20 0.00 2A2 26,591,625.25 0.00 3A1 95,315,571.57 0.00 3A2 74,603,000.00 0.00 3A3 21,145,000.00 0.00 P 100.00 0.00 C 916,509,456.10 0.00 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- Subordinate M1 34,200,000.00 0.00 M2 30,400,000.00 0.00 M3 19,475,000.00 0.00 M4 17,100,000.00 0.00 M5 15,675,000.00 0.00 M6 15,200,000.00 0.00 M7 12,825,000.00 0.00 M8 11,400,000.00 0.00 B 11,875,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 888,009,556.10 - --------------------------------------------------------------------------------

Payment Date: 01/25/06 ------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2005-BC5 ------------------------------------------------------------

~~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 279,136,000.00 4.613750% 126670MY1 58.255574 3.588472 941.744426 2A1 246,227,000.00 4.603750% 126670MZ8 28.012821 3.580694 971.987179 2A2 27,358,000.00 4.613750% 126670NA2 28.012821 3.588472 971.987179 3A1 104,881,000.00 4.478750% 126670NB0 91.202681 3.483472 908.797319 3A2 74,603,000.00 4.628750% 126670NC8 0.000000 3.600139 1,000.000000 3A3 21,145,000.00 4.748750% 126670ND6 0.000000 3.693472 1,000.000000 P 100.00 0.000000% 126670NQ7 0.000000 5,249,922.200000 1,000.000000 C 950,000,000.00 0.000000% 126670NP9 0.000000 1.726770 964.746796 Residual AR 100.00 0.000000% 126670NR5 1,000.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate M1 34,200,000.00 4.838750% 126670NE4 0.000000 3.763472 1,000.000000 M2 30,400,000.00 4.858750% 126670NF1 0.000000 3.779028 1,000.000000 M3 19,475,000.00 4.878750% 126670NG9 0.000000 3.794583 1,000.000000 M4 17,100,000.00 5.098750% 126670NH7 0.000000 3.965694 1,000.000000 M5 15,675,000.00 5.138750% 126670NJ3 0.000000 3.996806 1,000.000000 M6 15,200,000.00 5.218750% 126670NK0 0.000000 4.059028 1,000.000000 M7 12,825,000.00 6.348750% 126670NL8 0.000000 4.937917 1,000.000000 M8 11,400,000.00 6.378750% 126670NM6 0.000000 4.961250 1,000.000000 B 11,875,000.00 6.378750% 126670NN4 0.000000 4.961250 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 921,500,200.00 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2005-BC5 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Prin balance 335,738,876.25 337,336,288.60 243,434,291.25 Loan count 1833 2082 947 Avg loan rate 7.150977% 7.142744% 6.971519% Prepay amount 16,054,267.31 7,422,011.22 9,445,170.65 Total ----- Prin balance 916,509,456.10 Loan count 4862 Avg loan rate 7.10 Prepay amount 32,921,449.18 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Master serv fees 144,970.17 143,750.07 104,145.40 Sub servicer fees 0.00 0.00 0.00 Trustee fees 2,640.00 2,587.50 1,897.50 Agg advances N/A N/A N/A Adv this period 57,913.28 62,948.07 52,080.38 Total ----- Master serv fees 392,865.65 Sub servicer fees 0.00 Trustee fees 7,125.00 Agg advances N/A Adv this period 172,941.73 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Total ----- Realized losses 0.00 Cumulative losses 0.00 Coverage Amounts ---------------- Bankruptcy 0.00 0.00 0.00 Fraud 7,040,002.08 6,900,003.52 5,059,994.39 Special Hazard 0.00 0.00 0.00 Total ----- Bankruptcy 0.00 Fraud 19,000,000.00 Special Hazard 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 81.752581% 100.000000% 753,350,200.00 ----------------------------------------------------------------------------- Junior 18.247419% 0.000000% 168,150,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 127 22,991,582.53 60 to 89 days 1 51,879.85 90 or more 0 0.00 Foreclosure 0 0.00 Totals: 128 23,043,462.38 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 39,038,061.42 39,038,061.42 Principal remittance amount 33,490,643.90 33,490,643.90 Interest remittance amount 5,547,417.52 5,547,417.52

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 28, 2005

CWABS, Inc. (as company under a Pooling and Servicing Agreement, dated as of December 1, 2005, providing for, inter alia, the issuance of Asset-Backed Certificates, Series 2005-BC5)

CWABS, Inc.

(Exact name of registrant as specified in its charter)

DELAWARE	333-125164	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 9.01	Financial Statements and Exhibits.
(a)	Not applicable
(b)	Not applicable
(c)	Exhibits:

1. Pooling and Servicing Agreement, dated as of December 1, 2005, among CWABS, Inc., as depositor, Countrywide Home Loans, Inc., as seller, Countrywide LFT LLC, as seller, Park Monaco Inc., as seller, Park Granada LLC, as seller, Park Sienna LLC, as seller, Countrywide Home Loans Servicing LP, as master servicer and The Bank of New York as trustee.

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: January 12, 2006

EXHIBIT INDEX

Exhibit Number	Item 601 (a) of Regulation S-K Exhibit No.	Sequentially Numbered Description	Page
1	4	Pooling and Servicing Agreement	6

Filing Compare · CWABS Asset-Backed Certificates Trust 2005-BC5