8-K 1 d17167.txt FINANCIAL ASSET SECURITIES CORP ================================================================================ 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): November 19, 2001 FINANCIAL ASSET SECURITIES CORP. (AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT, DATED AS OF NOVEMBER 1, 2001, PROVIDING FOR THE ISSUANCE OF ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-FF2) Financial Asset Securities Corp. -------------------------------- (Exact name of registrant as specified in its charter) -------------------------------------------------------------------------------- Delaware 333-84929 06-1442101 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification Number) 600 Steamboat Road Greenwich, Connecticut 06830 ---------------------- ----- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (203) 625-2700 -------------- ================================================================================ -2- Item 2. Acquisition or Disposition of Assets Description of the Certificates and the Mortgage Pool On November 19, 2001, a single series of certificates, entitled First Franklin Mortgage Loan Trust 2001-FF2, Asset-Backed Certificates, Series 2001-FF2 (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of November 1, 2001 (the "Agreement"), attached hereto as Exhibit 4.1, among Financial Asset Securities Corp. as depositor (the "Depositor"), Option One Mortgage Corporation ("Option One") as master servicer (the "Master Servicer") and Wells Fargo Bank Minnesota, N.A. as trustee (the "Trustee"). The Certificates consist of eight classes of certificates (collectively, the "Certificates"), designated as the "Class A-1 Certificates", "Class A-2 Certificates", "Class M-1 Certificates", "Class M-2 Certificates", "Class M-3 Certificates", "Class C Certificates", "Class P Certificates" and "Class R Certificates". The Certificates evidence in the aggregate the entire beneficial ownership interest in a trust fund (the "Trust Fund"), consisting of a pool of mortgage loans (the "Mortgage Pool'") of conventional, one- to four- family, adjustable rate and fixed rate, first lien mortgage loans having original terms to maturity up to 30 years (the "Mortgage Loans"). The Mortgage Pool consist of Mortgage Loans having an aggregate principal balance of $422,709,940.31 as of November 1, 2001 (the "Cut-off Date"). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated November 14, 2001, among Option One, Option One Owner Trust 2001-1A and the Depositor (the "Purchase Agreement"). The Class A-1 Certificates, the Class A-2 Certificates, the Class M-1 Certificates, the Class M-2 Certificates and the Class M-3 Certificates were sold by the Depositor to Greenwich Capital Markets, Inc. (the "Underwriter"), pursuant to an Underwriting Agreement, dated November 14, 2001 (the "Underwriting Agreement") between the Depositor and the Underwriter. The Certificates have the following initial Certificate Balances and Pass-Through Rates: Initial Certificate Principal Class Balance or Notional Amount Pass-Through Rate ----- -------------------------- ----------------- A-1 $190,219,000.00 Variable A-2 $190,219,000.00 Variable M-1 $ 17,965,000.00 Variable M-2 $ 13,738,000.00 Variable M-3 $ 9,511,000.00 Variable C $ 1,057,840.31 Variable P $ 100.00 N/A R 100% N/A -3- The Certificates, other than the Class C Certificates, the Class P Certificates and the Class R Certificates, and the Mortgage Loans are more particularly described in the Prospectus, dated October 29, 2001 and the Prospectus Supplement, dated November 14, 2001, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class C Certificates, the Class P Certificates and the Class R Certificates have not been and will not be publicly offered by the Depositor. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Prospectus Supplement. Item 7. Financial Statements and Exhibits (a) Not applicable (b) Not applicable (c) 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: November 19, 2001 FINANCIAL ASSET SECURITIES CORP. By:/s/ Brian Bernard ------------------------- Name: Brian Bernard Title: Senior Vice President

Exhibit 4.1

ASSET BACKED CERTIFICATES SERIES 2001-FF2 8-K