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) February 28, 2007

CWABS Asset-Backed Certificates Trust 2007-BC1

(Exact name of ~~the~~ issuing entity as specified in its charter)

CWABS, Inc.

(Exact name of registrant as specified in its charter)

Countrywide Home Loans, Inc.

(Exact name of sponsor as specified in its charter)


DELAWARE	333-135846-19	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):

[_ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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

[_ ] 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))

Item 82.01. Other Events. On February 28, 2007, CWABS, Inc. (the “Company”) entered into an Item 1115 Agreement (the “Item 1115 Agreement”), dated as of April 27, 2006, by and among the Company, as depositor, Countrywide Home Loans, Inc. (“CHL”), CWMBS, Inc. (“CWMBS”), CWALT, Inc. (“CWALT”), CWHEQ, Inc. (“CWHEQ”) and Deutsche Bank AG New York Branch, as counterparty (the “Counterparty”). The Item 1115 Agreement is annexed hereto as Exhibit 99.7.

The tables annexed as Exhibit 99.1 hereto describe characteristics of the Final Mortgage Loans as of the Cut-off Date. All percentages set forth below have been 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.

	Exhibit No.	Description
	99.7	Item 1115 Agreement

Item 9.01		Financial Statements and Exhibits.
(a)		Not applicable
(b)		Not applicable
(c)		Not applicable
(d)		Exhibits.
		99.1 Characteristics of the Final Mortgage Loans

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/ Michael Schloessmann
Name:		Michael Schloessmann
Title:		Managing Director

Dated: March 67, 2007

EXHIBIT INDEX

Exhibit No.		Description
Exhibit Number	Sequentially Numbered Description
99.1		Characteristics of the Final Mortgage Loans
99.7	Item 1115 Agreement

Filing Compare · CWABS Asset-Backed Certificates Trust 2007-BC1