8-K 1 d201707.txt CWABS INC UNITED STATES 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) December 29, 2003 CWABS, Inc. (as company under a Pooling and Servicing Agreement, dated as of December 1, 2003, providing for, inter alia, the issuance of Asset-Backed Certificates, Series 2003-BC6) CWABS, Inc. (Exact name of registrant as specified in its charter) DELAWARE 333-109272 95-4596514 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) 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 Item 5. Other Events. Description of the Mortgage Pool* CWABS, Inc. (the "Company") entered into a Pooling and Servicing Agreement dated as of December 1, 2003 (the "Pooling and Servicing Agreement"), by and among the Company, as depositor, Countrywide Home Loans, Inc., as seller, Countrywide Home Loans Servicing LP, as master servicer, and The Bank of New York, as trustee, providing for the issuance of the Company's Asset-Backed Certificates, Series 2003-BC6. ---------- * Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus dated October 28, 2003 and the Prospectus Supplement dated December 19, 2003 of CWABS, Inc., relating to its Asset-Backed Certificates, Series 2003-BC6. Mortgage Loan Statistics 2 For purposes of this Form 8-K, "Tables" shall mean computer generated tables and/or charts describing the characteristics of the Mortgage Loans as of the Cut-off Date. All percentages in the Tables were calculated based on the principal balance of the Mortgage Loans as of the Cut-off Date. The sum of the columns may not equal the respective totals due to rounding. Mortgage Loan Programs for the Mortgage Loans in Loan Group 1

3 Mortgage Loan Principal Balances for the Mortgage Loans in Loan Group 1*

---------- * The average Principal Balance of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately $146,908. 4 Mortgage Rates for the Mortgage Loans in Loan Group 1*

---------- * The weighted average Mortgage Rate of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 7.18% per annum. Remaining Terms to Stated Maturity for the Mortgage Loans in Loan Group 1*

---------- * The weighted average remaining term to maturity of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 349 months. 5 Loan-to-Value Ratios for the Mortgage Loans in Loan Group 1*

---------- * The weighted average Loan-to-Value Ratio of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 79.43%. 6 State Distribution of the Mortgaged Properties for Mortgage Loans in Loan Group 1

7 Credit Bureau Risk Scores(1) for the Mortgage Loans in Loan Group 1*

(1) The Credit Bureau Risk Scores referenced in this table with respect to substantially all of the Mortgage Loans in Loan Group 1 were obtained by the respective originators from one or more credit reporting agencies, and were determined at the time of origination. * The weighted average Credit Bureau Risk Score of the Mortgage Loans in Loan Group 1 was approximately 622. 8 Gross Margins for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average Gross Margin for the Adjustable Rate Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 6.30%. 9 Next Adjustment Date for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average next adjustment date for the Adjustable Rate Mortgage Loans in Loan Group 1 is October 2005. 10 Maximum Mortgage Rates for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average Maximum Rate for the Adjustable Rate Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 13.55%. 11 Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 2.51%. 12 Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 1.16%. Minimum Mortgage Rates for the Adjustable Rate Mortgage Loans in Loan Group 1*

---------- * The weighted average Minimum Mortgage Rate for the Adjustable Rate Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 7.14%. 13 Types of Mortgaged Properties for the Mortgage Loans in Loan Group 1

Occupancy Types for the Mortgage Loans in Loan Group 1(1)

---------- (1) Based on representations by the Mortgagors at the time of origination of the Mortgage Loans in Loan Group 1. 14 Loan Purposes for the Mortgage Loans in Loan Group 1

Credit Grade Categories for the Mortgage Loans in Loan Group 1(1)

---------- (1) Although the Mortgage Loans in Loan Group 1 were originated by various originators under differing underwriting guidelines, the Mortgage Loans in Loan Group 1 loosely correspond to the Countrywide Home Loans credit grades shown in this table. See "--Underwriting Standards" in the Prospectus Supplement dated December 19, 2003 of CWABS, Inc., relating to its Asset-Backed Certificates, Series 2003-BC6. 15 Mortgage Loan Programs for the Mortgage Loans in Loan Group 2

16 Mortgage Loan Principal Balances for the Mortgage Loans in Loan Group 2*

---------- * The average Principal Balance of the Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately $300,358. 17 Mortgage Rates for the Mortgage Loans in Loan Group 2*

---------- * The weighted average Mortgage Rate of the Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 6.84% per annum. Remaining Terms to Stated Maturity for the Mortgage Loans in Loan Group 2*

---------- * The weighted average remaining term to maturity of the Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 353 months. 18 Loan-to-Value Ratios for the Mortgage Loans in Loan Group 2*

---------- * The weighted average Loan-to-Value Ratio of the Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 80.02%. 19 State Distribution of the Mortgaged Properties for Mortgage Loans in Loan Group 2

20 Credit Bureau Risk Scores(1) for the Mortgage Loans in Loan Group 2*

---------- (1) The Credit Bureau Risk Scores referenced in this table with respect to substantially all of the Mortgage Loans in Loan Group 2 were obtained by the respective originators from one or more credit reporting agencies, and were determined at the time of origination. * The weighted average Credit Bureau Risk Score of the Mortgage Loans in Loan Group 2 was approximately 642. 21 Gross Margins for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average Gross Margin for the Adjustable Rate Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 5.93%. 22 Next Adjustment Date for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average next adjustment date for the Adjustable Rate Mortgage Loans in Loan Group 2 is September 2005. 23 Maximum Mortgage Rates for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average Maximum Rate for the Adjustable Rate Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 13.30%. 24 Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 2.37%. 25 Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 1.18%. Minimum Mortgage Rates for the Adjustable Rate Mortgage Loans in Loan Group 2*

---------- * The weighted average Minimum Mortgage Rate for the Adjustable Rate Mortgage Loans in Loan Group 2 as of the Cut-off Date was approximately 6.81%. 26 Types of Mortgaged Properties for the Mortgage Loans in Loan Group 2

Occupancy Types for the Mortgage Loans in Loan Group 2(1)

---------- (1) Based on representations by the Mortgagors at the time of origination of the Mortgage Loans in Loan Group 2. 27 Loan Purposes for the Mortgage Loans in Loan Group 2

Credit Grade Categories for the Mortgage Loans in Loan Group 2(1)

(1) Although the Mortgage Loans in Loan Group 2 were originated by various originators under differing underwriting guidelines, the Mortgage Loans in Loan Group 2 loosely correspond to the Countrywide Home Loans credit grades shown in this table. See "--Underwriting Standards" in the Prospectus Supplement dated December 19, 2003 of CWABS, Inc., relating to its Asset-Backed Certificates, Series 2003. 28 Mortgage Loan Programs for the Mortgage Loans in the Mortgage Pool

29 Mortgage Loan Principal Balances for the Mortgage Loans in the Mortgage Pool*

---------- * The average Principal Balance of the Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately $164,749. 30 Mortgage Rates for the Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Mortgage Rate of the Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 7.11% per annum. Remaining Terms to Stated Maturity for the Mortgage Loans in the Mortgage Pool*

------------ * The weighted average remaining term to maturity of the Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 350 months. 31 Loan-to-Value Ratios for the Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Loan-to-Value Ratio of the Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 79.55%. 32 State Distribution of the Mortgaged Properties for Mortgage Loans in the Mortgage Pool

33 Credit Bureau Risk Scores(1) for the Mortgage Loans in the Mortgage Pool*

(1) The Credit Bureau Risk Scores referenced in this table with respect to substantially all of the Mortgage Loans in the Mortgage Pool were obtained by the respective originators from one or more credit reporting agencies, and were determined at the time of origination. * The weighted average Credit Bureau Risk Score of the Mortgage Loans in the Mortgage Pool was approximately 626. 34 Gross Margins for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Gross Margin for the Adjustable Rate Mortg age Loans in the Mortgage Pool as of the Cut-off Date was approximately 6.22%. 35 Next Adjustment Date for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average next adjustment date for the Adjustable Rate Mortgage Loans in the Mortgage Pool is September 2005. 36 Maximum Mortgage Rates for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Maximum Rate for the Adjustable Rate Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 13.50%. 37 Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Initial Periodic Rate Cap for the Adjustable Rate Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 2.48%. 38 Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Subsequent Periodic Rate Cap for the Adjustable Rate Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 1.17%. Minimum Mortgage Rates for the Adjustable Rate Mortgage Loans in the Mortgage Pool*

---------- * The weighted average Minimum Mortgage Rate for the Adjustable Rate Mortgage Loans in the Mortgage Pool as of the Cut-off Date was approximately 7.07%. 39 Types of Mortgaged Properties for the Mortgage Loans in the Mortgage Pool

Occupancy Types for the Mortgage Loans in the Mortgage Pool(1)

---------- (1) Based on representations by the Mortgagors at the time of origination of the Mortgage Loans in the Mortgage Pool. 40 Loan Purposes for the Mortgage Loans in the Mortgage Pool

Credit Grade Categories for the Mortgage Loans in the Mortgage Pool(1)

(1) Although the Mortgage Loans in the Mortgage Pool were originated by various originators under differing underwriting guidelines, the Mortgage Loans in The Mortgage Pool loosely correspond to the Countrywide Home Loans credit grades shown in this table. See "--Underwriting Standards" in the Prospectus Supplement dated December 19, 2003 of CWABS, Inc., relating to its Asset-Backed Certificates, Series 2003 41 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Not applicable. (b) Not applicable. 42 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/ Celia Coulter ---------------------------- Name: Celia Coulter Title: Vice President Dated: January 13, 2004

CWABS INC ASSET BACKED CERTIFICATES SERIES 2003 BC6 8-K