8-K 1 arc01001.txt APRIL 8K 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): April 25, 2001 AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2001-BC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-35026-09 Pooling and Servicing Agreement) (Commission (State or other File Number) 52-2289289 jurisdiction 52-2289288 of Incorporation) 52-2267490 IRS EIN c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On April 25, 2001 a distribution was made to holders of AMORTIZING RESIDENTIAL COLLATERAL TRUST, Mortgage Pass-Through Certificates, Series 2001-BC1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-BC1 Trust, relating to the April 25, 2001 distribution. 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 hereunto duly authorized. AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2001-BC1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/Sherri Sharps, Vice President By: Sherri Sharps, Vice President Date: 5/4/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-BC1 Trust, relating to the April 25, 2001 distribution. EX-99.1

Amortizing Residential Collateral Mortgage Trust Mortgage Pass-Through Certificates Record Date: 23/2831/01 Distribution Date: 34/2625/01 ARC Series: 2001-BC1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 846-8152 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 8635725N9 SEN 5.~~52125~~30000% ~~205~~201,~~868~~773,~~000~~041.0009 ~~568~~891,~~324~~164.3526 42,~~094~~649,~~958~~501.9195 AX 8635725P4 SEN_IO 6.00000% 0.00 26,923.99 0.00 M1 8635725Q2 SUB 5.~~82125~~60000% 6,536,000.00 1930,~~023~~501.8533 0.00 M2 8635725R0 SUB 6.~~27125~~05000% 4,357,000.00 1321,~~661~~966.9254 0.00 B 8635725S8 SUB 7.~~22125~~00000% 1,089,000.00 36,~~931~~352.9750 0.00 X ARC01001X RES 0.00000% ~~332~~0.9900 1697,~~074,923~~892.4655 0.00 R1 ARC0101R1 RES 0.00000% 0.00 0.00 0.00 R2 ARC0101R2 RES 0.00000% 0.00 0.00 0.00 R3 ARC0101R3 RES 0.00000% 0.00 0.00 0.00 Totals ~~217~~213,~~850~~755,~~332~~041.9909 1,~~706~~674,~~789~~801.5417 42,~~094~~649,~~958~~501.9195

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~201~~199,~~773~~123,~~041~~539.0914 43,~~663~~540,~~283~~666.2621 0.00 AX 0.00 0.00 26,923.99 0.00 M1 0.00 6,536,000.00 1930,~~023~~501.8533 0.00 M2 0.00 4,357,000.00 1321,~~661~~966.9254 0.00 B 0.00 1,089,000.00 36,~~931~~352.9750 0.00 X 0.00 0.00 1697,~~074,923~~892.4655 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~213~~211,~~755~~105,~~041~~539.0914 54,~~801~~324,~~748~~303.4512 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 205,868,000.00 ~~205~~201,~~868~~773,~~000~~041.0009 0.00 42,~~094~~649,~~958~~501.9195 0.00 0.00 AX 0.00 0.00 0.00 0.00 0.00 0.00 M1 6,536,000.00 6,536,000.00 0.00 0.00 0.00 0.00 M2 4,357,000.00 4,357,000.00 0.00 0.00 0.00 0.00 B 1,089,000.00 1,089,000.00 0.00 0.00 0.00 0.00 X 332.99 ~~332~~0.9900 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 217,850,332.99 ~~217~~213,~~850~~755,~~332~~041.9909 0.00 42,~~094~~649,~~958~~501.9195 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 42,~~094~~649,~~958~~501.9195 ~~201~~199,~~773~~123,~~041~~539.0914 0.~~98010881~~96723891 42,~~094~~649,~~958~~501.9195 AX 0.00 0.00 0.00000000 0.00 M1 0.00 6,536,000.00 1.00000000 0.00 M2 0.00 4,357,000.00 1.00000000 0.00 B 0.00 1,089,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 42,~~094~~649,~~958~~501.9195 ~~213~~211,~~755~~105,~~041~~539.0914 0.~~98120135~~96903932 42,~~094~~649,~~958~~501.9195

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 205,868,000.00 ~~1000~~980.~~00000000~~10881288 0.00000000 1912.~~89118712~~86990669 0.00000000 AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1 6,536,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 4,357,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 1,089,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 332.99 ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 1912.~~89118712~~86990669 ~~980~~967.~~10881288~~23890619 0.~~98010881~~96723891 1912.~~89118712~~86990669 AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 205,868,000.00 5.~~52125%~~30 ~~205~~201,~~868~~773,~~000~~041.0009 ~~568~~891,~~324~~164.3526 0.00 0.00 AX 0.00 6.~~00000%~~00 5,384,798.00 26,923.99 0.00 0.00 M1 6,536,000.00 5.~~82125%~~60 6,536,000.00 1930,~~023~~501.8533 0.00 0.00 M2 4,357,000.00 6.~~27125%~~05 4,357,000.00 1321,~~661~~966.9254 0.00 0.00 B 1,089,000.00 7.~~22125%~~00 1,089,000.00 36,~~931~~352.9750 0.00 0.00 X 332.99 0.~~00000%~~00 ~~332~~0.9900 0.00 0.00 0.00 R1 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 R2 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 R3 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 Totals 217,850,332.99 ~~631~~976,~~866~~908.0862 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.00 0.00 ~~568~~891,~~324~~164.3526 0.00 ~~201~~199,~~773~~123,~~041~~539.0914 AX 0.00 0.00 26,923.99 0.00 5,384,798.00 M1 0.00 0.00 1930,~~023~~501.8533 0.00 6,536,000.00 M2 0.00 0.00 1321,~~661~~966.9254 0.00 4,357,000.00 B 0.00 0.00 36,~~931~~352.9750 0.00 1,089,000.00 X 0.00 0.00 1697,~~074,923~~892.4655 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~706~~674,~~789~~801.5417 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 205,868,000.00 5.~~52125~~30000% ~~1000~~980.~~00000000~~10881288 24.~~76062501~~32881390 0.00000000 0.00000000 AX 0.00 6.00000% 1251.23106237 6.25615531 0.00000000 0.00000000 M1 6,536,000.00 5.~~82125~~60000% 1000.00000000 24.~~91062576~~66666616 0.00000000 0.00000000 M2 4,357,000.00 6.~~27125~~05000% 1000.00000000 35.~~13562543~~04166628 0.00000000 0.00000000 B 1,089,000.00 7.~~22125~~00000% 1000.00000000 35.~~61062443~~83333333 0.00000000 0.00000000 X 332.99 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.00000000 0.00000000 24.~~76062501~~32881390 0.00000000 ~~980~~967.~~10881288~~23890619 AX 0.00000000 0.00000000 6.25615531 0.00000000 1251.23106237 M1 0.00000000 0.00000000 24.~~91062576~~66666616 0.00000000 1000.00000000 M2 0.00000000 0.00000000 35.~~13562543~~04166628 0.00000000 1000.00000000 B 0.00000000 0.00000000 35.~~61062443~~83333333 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~28095~~95836.~~31817772~~36145230 0.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 64,~~013~~415,~~694~~894.0349 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 2118,~~520~~864.4151 Realized Losses 0.00 Total Deposits 64,~~016~~534,~~214~~759.4400 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~214~~210,~~465~~455.9988 Payment of Interest and Principal 54,~~801~~324,~~748~~303.4512 Total Withdrawals (Pool Distribution Amount) 64,~~016~~534,~~214~~759.4400 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 9089,~~770~~064.9860 Trustee Fee - Wells Fargo Bank, N.A. 1,~~815~~781.4131 Mitigation Advisors Fee 2,~~723~~671.1394 MGIC Insurance Premiums ~~119~~116,~~156~~938.4703 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~214~~210,~~465~~455.9988

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2101 0 0 0 2101 ~~245~~12,~~076~~485,223.3449 0.00 0.00 0.00 ~~245~~12,~~076~~485,223.3449 60 Days 02 0 0 0 02 0246,370.0074 0.00 0.00 0.00 0246,370.0074 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2103 0 0 0 2103 ~~245~~12,~~076~~731,594.3423 0.00 0.00 0.00 ~~245~~12,~~076~~731,594.3423 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 06.~~118554~~055156% 0.000000% 0.000000% 0.000000% 06.~~118554~~055156% 05.~~114628~~914209% 0.000000% 0.000000% 0.000000% 05.~~114628~~914209% 60 Days 0.~~000000~~119904% 0.000000% 0.000000% 0.000000% 0.~~000000~~119904% 0.~~000000~~116705% 0.000000% 0.000000% 0.000000% 0.~~000000~~116705% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 06.~~118554~~175060% 0.000000% 0.000000% 0.000000% 06.~~118554~~175060% 06.~~114628~~030914% 0.000000% 0.000000% 0.000000% 06.~~114628~~030914%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 17 0 0 0 17 61573,~~263~~812.4281 0.00 0.00 0.00 61573,~~263~~812.4281 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 17 0 0 0 17 61573,~~263~~812.4281 0.00 0.00 0.00 61573,~~263~~812.4281 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 04.~~602410~~294479% 0.000000% 0.000000% 0.000000% 04.~~602410~~294479% 03.~~387623~~694084% 0.000000% 0.000000% 0.000000% 03.~~387623~~694084% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 04.~~602410~~294479% 0.000000% 0.000000% 0.000000% 04.~~602410~~294479% 03.~~387623~~694084% 0.000000% 0.000000% 0.000000% 03.~~387623~~694084% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 194 0 0 0 194 ~~183~~11,~~812~~911,410.9268 0.00 0.00 0.00 ~~183~~11,~~812~~911,410.9268 60 Days 02 0 0 0 02 0246,370.0074 0.00 0.00 0.00 0246,370.0074 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 196 0 0 0 196 ~~183~~12,~~812~~157,781.9242 0.00 0.00 0.00 ~~183~~12,~~812~~157,781.9242 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 06.~~065746~~245847% 0.000000% 0.000000% 0.000000% 06.~~065746~~245847% 06.~~092836~~090542% 0.000000% 0.000000% 0.000000% 06.~~092836~~090542% 60 Days 0.~~000000~~132890% 0.000000% 0.000000% 0.000000% 0.~~000000~~132890% 0.~~000000~~125974% 0.000000% 0.000000% 0.000000% 0.~~000000~~125974% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 06.~~065746~~378738% 0.000000% 0.000000% 0.000000% 06.~~065746~~378738% 06.~~092836~~216517% 0.000000% 0.000000% 0.000000% 06.~~092836~~216517%

OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 0.00 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 2118,~~520~~864.4151

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 10.~~581150~~581778% Weighted Average Net Coupon 10.~~081150~~081777% Weighted Average Pass-Through Rate 9.~~414793~~415298% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count 1,~~717~~687 Number Of Loans Paid In Full 3019 Ending Scheduled Collateral Loan Count 1,~~687~~668 Beginning Scheduled Collateral Balance ~~217~~213,~~850~~755,~~332~~041.9909 Ending Scheduled Collateral Balance ~~213~~211,~~755~~105,~~041~~539.0914 Ending Actual Collateral Balance at 2831-~~Feb~~Mar-2001 ~~213~~211,~~801~~105,~~844~~539.2114 Monthly P &I Constant 21,~~017~~981,~~323~~511.5632 Ending Scheduled Balance for Premium Loans ~~213~~211,~~755~~105,~~041~~539.0914 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 332.99 Specified O/C Amount 0.00 Overcollateralized Amount 0.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1697,~~074,923~~892.4655

Prepayment Penalty Premiums $~~107~~57,~~429~~891.04

Filing Compare · AMORTIZING RESI COLLATERAL TR MORT PAS THRU CER SER 2001-BC1