8-K 1 d249788.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) July 30, 2004 CWABS, Inc. (as company under a Pooling and Servicing Agreement, dated as of July 1, 2004, providing for, inter alia, the issuance of Asset-Backed Certificates, Series 2004-BC3) 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 91302 ----------------- -------- Calabasas, California (Zip Code) (Address of Principal Executive Offices) Registrant's telephone number, including area code, is (818) 225-3237 -------------------------------------------------------------------------------- Item 5. Other Events. Description of the Mortgage Pool 1/ CWABS, Inc. (the "Company") entered into a Pooling and Servicing Agreement, dated as of July 1, 2004 (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 2004-BC3. 1/ Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Prospectus dated June 24, 2004 and the Prospectus Supplement dated July 23, 2004 of CWABS, Inc., relating to its Asset-Backed Certificates, Series 2004-BC3. -2- Mortgage Loan Statistics 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

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* The average Principal Balance of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately $156,179. -4-

* The weighted average Mortgage Rate of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 6.99% per annum. -5-

---------- * The weighted average original Loan-to-Value Ratio at origination of the Mortgage Loans in Loan Group 1 as of the Cut-off Date was approximately 79.85%. -6-

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(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 as of the Cut-off Date was approximately 612. -8-

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---------------- * 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 1.10%. -13-

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- 42 - Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. --------------------------------------------------------------------------- (a) Not applicable. (b) Not applicable. -43- 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: August 16, 2004

CWABS Asset Backed Certificates Trust 2004-BC3 8-K