8-K 1 abs01he1.txt MAY 8-K 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): May 15, 2001 ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-44300-01 Pooling and Servicing Agreement) (Commission 52-2289286 (State or other File Number) 52-2289284 jurisdiction 52-2289285 of Incorporation) 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 May 15, 2001 a distribution was made to holders of ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, Home Equity Loan Asset-Backed Certs., Series 2001-HE1 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 Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust, relating to the May 15, 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. ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Sherri Sharps, Vice President By: Sherri Sharps, Vice President Date: 5/25/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan Asset-Backed Certs., Series 2001-HE1 Trust, relating to the May 15, 2001 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan Trust Mortgage Pass-Through Certificates Record Date: 34/3130/01 Distribution Date: 45/1615/01 ABSC Series: 2001-HE1 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 A-1 04541GBA9 SEN 5.~~29000~~25750% ~~376~~372,~~450~~862,~~000~~067.0099 ~~995~~1,~~710~~579,148.2554 34,~~587~~979,~~932~~521.0108 A-2 04541GBB7 SEN 5.~~32500~~29250% ~~376~~373,~~450~~658,~~000~~779.0080 1,~~002~~593,~~298~~057.1288 25,~~791~~011,~~220~~914.2070 M-1 04541GBC5 SUB 5.~~68500~~65250% 68,800,000.00 ~~195~~313,~~564~~274.0011 0.00 M-2 04541GBD3 SUB 6.~~20500~~17250% 50,500,000.00 ~~156~~251,~~676~~100.2573 0.00 B 04541GBE1 SUB 7.~~55500~~52250% 46,003,566.00 ~~173~~278,~~778~~772.4703 0.00 BIO 04541GBG6 SUB 3.50000% 0.00 241,666.83 0.00 P 04541GBH4 SEN 0.00000% 100.00 23146,~~484~~949.9598 0.00 R-1 04541GBJ0 RES 0.00000% 0.00 0.00 0.00 R-2 ABS0101R2 RES 0.00000% 0.00 0.00 0.00 R-3 ABS0101R3 RES 0.00000% 0.00 0.00 0.00 X 04541GBF8 SUB 0.00000% 0.00 ~~4,836,972~~0.1500 0.00 Totals ~~918~~911,~~203~~824,~~666~~513.0079 74,~~626~~403,~~151~~970.0210 69,~~379~~991,~~152~~435.2178

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~372~~367,~~862~~882,~~067~~546.9991 46,~~583~~558,~~642~~669.2662 0.00 A-2 0.00 ~~373~~368,~~658~~646,~~779~~865.8010 36,~~793~~604,~~518~~972.3258 0.00 M-1 0.00 68,800,000.00 ~~195~~313,~~564~~274.0011 0.00 M-2 0.00 50,500,000.00 ~~156~~251,~~676~~100.2573 0.00 B 0.00 46,003,566.00 ~~173~~278,~~778~~772.4703 0.00 BIO 0.00 0.00 241,666.83 0.00 P 0.00 100.00 23146,~~484~~949.9598 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~4,836,972~~0.1500 0.00 Totals 0.00 ~~911~~901,~~824~~833,~~513~~078.7901 14,~~005~~395,~~303~~405.2388 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) A-1 376,450,000.00 ~~376~~372,~~450~~862,~~000~~067.0099 0.00 34,~~587~~979,~~932~~521.0108 0.00 0.00 A-2 376,450,000.00 ~~376~~373,~~450~~658,~~000~~779.0080 0.00 25,~~791~~011,~~220~~914.2070 0.00 0.00 M-1 68,800,000.00 68,800,000.00 0.00 0.00 0.00 0.00 M-2 50,500,000.00 50,500,000.00 0.00 0.00 0.00 0.00 B 46,003,566.00 46,003,566.00 0.00 0.00 0.00 0.00 BIO 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 Totals 918,203,666.00 ~~918~~911,~~203~~824,~~666~~513.0079 0.00 69,~~379~~991,~~152~~435.2178 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 A-1 34,~~587~~979,~~932~~521.0108 ~~372~~367,~~862~~882,~~067~~546.9991 0.~~99046903~~97724146 34,~~587~~979,~~932~~521.0108 A-2 25,~~791~~011,~~220~~914.2070 ~~373~~368,~~658~~646,~~779~~865.8010 0.~~99258542~~97927179 25,~~791~~011,~~220~~914.2070 M-1 0.00 68,800,000.00 1.00000000 0.00 M-2 0.00 50,500,000.00 1.00000000 0.00 B 0.00 46,003,566.00 1.00000000 0.00 BIO 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 X 0.00 0.00 0.00000000 0.00 Totals 69,~~379~~991,~~152~~435.2178 ~~911~~901,~~824~~833,~~513~~078.7901 0.~~99305257~~98217107 69,~~379~~991,~~152~~435.2178

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 376,450,000.00 ~~1000~~990.~~00000000~~46903437 0.00000000 913.~~53096563~~22757625 0.00000000 A-2 376,450,000.00 ~~1000~~992.~~00000000~~58541586 0.00000000 713.~~41458414~~31362651 0.00000000 M-1 68,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 50,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 46,003,566.00 1000.00000000 0.00000000 0.00000000 0.00000000 BIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 913.~~53096563~~22757625 ~~990~~977.~~46903437~~24145812 0.~~99046903~~97724146 913.~~53096563~~22757625 A-2 0.00000000 713.~~41458414~~31362651 ~~992~~979.~~58541586~~27178935 0.~~99258542~~97927179 713.~~41458414~~31362651 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 BIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 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 A-1 376,450,000.00 5.~~29000%~~26 ~~376~~372,~~450~~862,~~000~~067.0099 ~~995~~1,~~710~~579,148.2554 0.00 0.00 A-2 376,450,000.00 5.~~32500%~~29 ~~376~~373,~~450~~658,~~000~~779.0080 1,~~002~~593,~~298~~057.1388 0.00 0.00 M-1 68,800,000.00 5.~~68500%~~65 68,800,000.00 ~~195~~313,~~564~~274.0011 0.00 0.00 M-2 50,500,000.00 6.~~20500%~~17 50,500,000.00 ~~156~~251,~~676~~100.2573 0.00 0.00 B 46,003,566.00 7.~~55500%~~52 46,003,566.00 ~~173~~278,~~778~~772.4703 0.00 0.00 BIO 0.00 3.~~50000%~~50 82,857,200.00 241,666.83 0.00 0.00 P 100.00 0.~~00000%~~00 100.00 0.00 0.00 0.00 R-1 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 R-2 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 R-3 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 X 0.00 0.~~00000%~~00 0.00 0.00 0.00 0.00 Totals 918,203,666.00 24,~~765~~257,~~693~~020.9312 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 A-1 0.00 0.00 ~~995~~1,~~710~~579,148.2554 0.00 ~~372~~367,~~862~~882,~~067~~546.9991 A-2 0.00 0.00 1,~~002~~593,~~298~~057.1288 0.00 ~~373~~368,~~658~~646,~~779~~865.8010 M-1 0.00 0.00 ~~195~~313,~~564~~274.0011 0.00 68,800,000.00 M-2 0.00 0.00 ~~156~~251,~~676~~100.2573 0.00 50,500,000.00 B 0.00 0.00 ~~173~~278,~~778~~772.4703 0.00 46,003,566.00 BIO 0.00 0.00 241,666.83 0.00 82,857,200.00 P 0.00 0.00 23146,~~484~~949.9598 0.00 100.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~4,836,972~~0.1500 0.00 0.00 Totals 0.00 0.00 74,~~626~~403,~~151~~970.0210 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 A-1 376,450,000.00 5.~~29000~~25750% ~~1000~~990.~~00000000~~46903437 24.~~64500000~~19484271 0.00000000 0.00000000 A-2 376,450,000.00 5.~~32500~~29250% ~~1000~~992.~~00000000~~58541586 24.~~66250001~~23179142 0.00000000 0.00000000 M-1 68,800,000.00 5.~~68500~~65250% 1000.00000000 24.~~84250000~~55340276 0.00000000 0.00000000 M-2 50,500,000.00 6.~~20500~~17250% 1000.00000000 34.~~10250000~~97229168 0.00000000 0.00000000 B 46,003,566.00 7.~~55500~~52250% 1000.00000000 36.~~77749999~~05979176 0.00000000 0.00000000 BIO 0.00 3.50000% 1000.00000000 2.91666663 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 A-1 0.00000000 0.00000000 24.~~64500000~~19484271 0.00000000 ~~990~~977.~~46903437~~24145812 A-2 0.00000000 0.00000000 24.~~66249999~~23179142 0.00000000 ~~992~~979.~~58541586~~27178935 M-1 0.00000000 0.00000000 24.~~84250000~~55340276 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 34.~~10250000~~97229168 0.00000000 1000.00000000 B 0.00000000 0.00000000 36.~~77749999~~05979176 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 2.91666663 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~34849~~1469499.~~50000000~~80000000 0.00000000 1000.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 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 1214,~~715~~775,~~386~~332.3796 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~1,672,501~~0.9800 Realized Losses 0.00 Total Deposits 14,~~387~~775,~~888~~332.3596 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~382~~379,~~585~~927.1208 Payment of Interest and Principal 14,~~005~~395,~~303~~405.2388 Total Withdrawals (Pool Distribution Amount) 14,~~387~~775,~~888~~332.3596 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0.00 Servicing Fee - Ocwen ~~216~~215,~~846~~045.8756 Servicing Fee - Meritech 162,~~891~~086.0324 Servicing Fee - Option One 2,~~847~~795.2228 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~382~~379,~~585~~927.1208

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS 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 72292 0 0 0 72292 939,~~087~~921,~~963~~902.6922 0.00 0.00 0.00 939,~~087~~921,~~963~~902.6922 60 Days 1516 0 0 0 1516 2,~~782~~314,~~550~~149.8660 0.00 0.00 0.00 2,~~782~~314,~~550~~149.8660 90 Days 09 0 0 0 09 01,840,992.0080 0.00 0.00 0.00 01,840,992.0080 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 87317 0 0 0 87317 1144,~~870~~077,~~514~~044.5562 0.00 0.00 0.00 1144,~~870~~077,~~514~~044.5562 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 14.~~064774~~343945% 0.000000% 0.000000% 0.000000% 14.~~064774~~343945% 04.~~995845~~407883% 0.000000% 0.000000% 0.000000% 04.~~995845~~407883% 60 Days 0.~~221828~~238024% 0.000000% 0.000000% 0.000000% 0.~~221828~~238024% 0.~~304908~~255511% 0.000000% 0.000000% 0.000000% 0.~~304908~~255511% 90 Days 0.~~000000~~133889% 0.000000% 0.000000% 0.000000% 0.~~000000~~133889% 0.~~000000~~203269% 0.000000% 0.000000% 0.000000% 0.~~000000~~203269% 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 14.~~286602~~715858% 0.000000% 0.000000% 0.000000% 14.~~286602~~715858% 14.~~300753~~866663% 0.000000% 0.000000% 0.000000% 14.~~300753~~866663%

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 36146 0 0 0 36146 420,~~603~~448,~~001~~783.1225 0.00 0.00 0.00 420,~~603~~448,~~001~~783.1225 60 Days 7 0 0 0 7 1,~~301~~224,~~072~~106.9312 0.00 0.00 0.00 1,~~301~~224,~~072~~106.9312 90 Days 04 0 0 0 04 0788,675.0069 0.00 0.00 0.00 0788,675.0069 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 43157 0 0 0 43157 522,~~904~~461,~~074~~565.0506 0.00 0.00 0.00 522,~~904~~461,~~074~~565.0506 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 14.~~085645~~429612% 0.000000% 0.000000% 0.000000% 14.~~085645~~429612% 14.~~011605~~528542% 0.000000% 0.000000% 0.000000% 14.~~011605~~528542% 60 Days 0.~~211098~~212379% 0.000000% 0.000000% 0.000000% 0.~~211098~~212379% 0.~~285938~~271088% 0.000000% 0.000000% 0.000000% 0.~~285938~~271088% 90 Days 0.~~000000~~121359% 0.000000% 0.000000% 0.000000% 0.~~000000~~121359% 0.~~000000~~174658% 0.000000% 0.000000% 0.000000% 0.~~000000~~174658% 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 14.~~296743~~763350% 0.000000% 0.000000% 0.000000% 14.~~296743~~763350% 14.~~297543~~974288% 0.000000% 0.000000% 0.000000% 14.~~297543~~974288% 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 36146 0 0 0 36146 419,~~484~~473,~~962~~118.5797 0.00 0.00 0.00 419,~~484~~473,~~962~~118.5797 60 Days 89 0 0 0 89 1,~~481~~090,~~477~~043.9348 0.00 0.00 0.00 1,~~481~~090,~~477~~043.9348 90 Days 05 0 0 0 05 01,052,317.0011 0.00 0.00 0.00 01,052,317.0011 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 44160 0 0 0 44160 521,~~966~~615,~~440~~479.5056 0.00 0.00 0.00 521,~~966~~615,~~440~~479.5056 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 14.~~044689~~261529% 0.000000% 0.000000% 0.000000% 14.~~044689~~261529% 04.~~980174~~287911% 0.000000% 0.000000% 0.000000% 04.~~980174~~287911% 60 Days 0.~~232153~~262697% 0.000000% 0.000000% 0.000000% 0.~~232153~~262697% 0.~~323772~~240024% 0.000000% 0.000000% 0.000000% 0.~~323772~~240024% 90 Days 0.~~000000~~145943% 0.000000% 0.000000% 0.000000% 0.~~000000~~145943% 0.~~000000~~231716% 0.000000% 0.000000% 0.000000% 0.~~000000~~231716% 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 14.~~276843~~670169% 0.000000% 0.000000% 0.000000% 14.~~276843~~670169% 14.~~303946~~759651% 0.000000% 0.000000% 0.000000% 14.~~303946~~759651%

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 ~~1,672,501~~0.9800

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 10.~~435921~~435113% Weighted Average Net Coupon 9.~~935921~~935113% Weighted Average Pass-Through Rate 9.~~935921~~935113% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 6,~~804~~762 Number Of Loans Paid In Full 4246 Ending Scheduled Collateral Loan Count 6,~~762~~722 Beginning Scheduled Collateral Balance ~~918~~911,~~203~~824,~~666~~513.0079 Ending Scheduled Collateral Balance ~~911~~905,~~824~~125,~~513~~291.7916 Ending Actual Collateral Balance at 3130-~~Mar~~Apr-2001 ~~912~~905,~~587~~693,~~813~~354.7846 Monthly P &I Constant 8,~~487~~691,~~462~~529.0605 Ending Scheduled Balance for Premium Loans ~~911~~905,~~824~~125,~~513~~291.7916 ~~Scheduled Principal 478,726.37 Unscheduled Principal 5,900,426.04~~ Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.2000 Specified O/C Amount 020,659,582.00 Overcollateralized Amount 03,292,213.0015 Overcollateralized Deficiency Amount 017,367,368.0085 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 03,292,213.0019 Excess Cash Amount ~~4,836,972~~0.1500

Credit Enhancement Percentage 18.~~12888~~6268% Class A-1 Formula Rate for next cycle 54.~~27375~~3575% Class A-2 Formula Rate for next cycle 54.~~30875~~3925% Class M-1 Formula Rate for next cycle 54.~~66875~~7525% Class M-2 Formula Rate for next cycle 65.~~18875~~2725% Class B Formula Rate for next cycle 76.~~53875~~6225%

Group Level Collateral Statement Group ID 1 2 Total Collateral Description Mixed ARM Mixed ARM Weighted Average Coupon Rate 10.~~476370~~798911 10.~~456895~~459064 Weighted Average Net Rate 910.~~976370~~298911 9.~~956895~~959064 Weighted Average Maturity 10.00 0(1.00) Beginning Loan Count 3,~~338~~316 3,~~466~~446 6,~~804~~762 Loans Paid In Full 2220 20 4240 Ending Loan Count 3,~~316~~296 3,~~446~~426 6,~~762~~722 Beginning Scheduled Balance ~~458~~454,~~207~~619,~~835~~903.7866 ~~459~~457,~~995~~204,~~830~~610.4213 ~~918~~911,~~203~~824,~~666~~513.2079 Ending scheduled Balance ~~454~~451,~~619~~281,~~903~~152.6625 ~~457~~453,~~204~~844,~~610~~138.1391 ~~911~~905,~~824~~125,~~513~~291.7916 Record Date 34/3130/01 34/3130/01 Principal And Interest Constant 4,~~229~~496,~~430~~339.6679 4,~~258~~195,~~031~~189.4026 8,~~487~~691,~~462~~529.0605 Scheduled Principal ~~229~~405,~~134~~173.9329 ~~249~~210,~~591~~245.4460 ~~478~~615,~~726~~418.3789 Unscheduled Principal 32,~~358~~933,~~797~~578.1910 23,~~541~~150,~~628~~225.8560 56,~~900~~083,~~426~~803.0470 Scheduled Interest 4,~~000~~091,~~295~~166.7350 43,~~008~~984,~~439~~943.9666 8,~~008~~076,~~735~~110.6916 Servicing Fees ~~190~~189,~~919~~424.8796 ~~191~~190,~~665~~501.2592 ~~382~~379,~~585~~926.1288 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 3,~~809~~901,~~375~~741.8054 3,~~816~~794,~~775~~441.0374 7,~~626~~696,~~150~~183.8328 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Group ID Required Overcollateralization Amount 1 2 Total 0.00 0.00 0.00 Overcollateralization Increase Amount 0.00 0.00 0.00 Overcollateralization Reduction Amount 0.00 0.00 0.00 Specified Overcollateralization Amount 0.00 0.00 0.00 Overcollateralization AmountOvercollateralization Deficiency Amount 0.00 0.00 0.00 Base Overcollateralization Amount 0.00 0.00 0.00 Extra Principal Distribution Amount 0.00 0.00 0.00 Excess Cash Amount 0.00 0.00 0.00 0.00 0.00 0.00

Filing Compare · ASSET BACKED SEC CORP HOME EQUITY LOAN TR 2001-HE1