8-K 1 opt01002.txt JULY 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): July 25, 2001 OPTION ONE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2001-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-14625-08 Pooling and Servicing Agreement) (Commission 52-2316391 (State or other File Number) 52-2316392 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, Maryland 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 July 25, 2001 a distribution was made to holders of OPTION ONE MORTGAGE LOAN TRUST, Mortgage Pass-Through Certificates, Series 2001-2 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 2001-2 Trust, relating to the July 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. OPTION ONE MORTGAGE LOAN TRUST Mortgage Pass-Through Certificates, Series 2001-2 Trust By: Wells Fargo Bank MInnesota, N.A. as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 8/7/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-2 Trust, relating to the July 25, 2001 distribution. EX-99.1

Option One Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 56/3130/01 Distribution Date: 67/25/01 OOMC Series: 2001-2 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) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A 68389FBN3 SEN 4.~~34875~~06500% ~~246~~243,~~962~~835,~~228~~170.1307 ~~924~~825,~~813~~991.5264 31,~~127~~770,~~058~~350.0622 M-1 68389FBP8 MEZ 4.~~73875~~45500% 11,688,000.00 4743,~~693~~391.9470 0.00 M-2 68389FBQ6 MEZ 54.~~13875~~85500% 6,875,000.00 3027,~~422~~815.1110 0.00 M-3 68389FBR4 MEZ 65.~~08875~~80500% 5,500,000.00 2826,~~837~~606.0025 0.00 C OPT01002C JUN 0.00000% 3,436,900.00 1823,~~076,618~~482.6480 0.00 R-1 OPT0102R1 RES 0.00000% 0.00 0.00 0.00 R-2 OPT0102R2 RES 0.00000% 0.00 0.00 0.00 P OPT01002P JUN 0.00000% 100.00 1811,~~698~~783.0819 0.00 Totals ~~274~~271,~~462~~335,~~228~~170.1307 21,~~127~~759,~~083~~070.2968 31,~~127~~770,~~058~~350.0622

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~243~~242,~~835~~064,~~170~~819.0785 42,~~051~~596,~~871~~341.5886 0.00 M-1 0.00 11,688,000.00 4743,~~693~~391.9470 0.00 M-2 0.00 6,875,000.00 3027,~~422~~815.1110 0.00 M-3 0.00 5,500,000.00 2826,~~837~~606.0025 0.00 C 0.00 3,436,900.00 1823,~~076,618~~482.6480 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 P 0.00 100.00 1811,~~698~~783.0819 0.00 Totals 0.00 ~~271~~269,~~335~~564,~~170~~819.0785 53,~~254~~529,~~141~~420.3590 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 247,500,000.00 ~~246~~243,~~962~~835,~~228~~170.1307 0.00 31,~~127~~770,~~058~~350.0622 0.00 0.00 M-1 11,688,000.00 11,688,000.00 0.00 0.00 0.00 0.00 M-2 6,875,000.00 6,875,000.00 0.00 0.00 0.00 0.00 M-3 5,500,000.00 5,500,000.00 0.00 0.00 0.00 0.00 C 3,436,900.00 3,436,900.00 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 P 100.00 100.00 0.00 0.00 0.00 0.00 Totals 275,000,000.00 ~~274~~271,~~462~~335,~~228~~170.1307 0.00 31,~~127~~770,~~058~~350.0622 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 31,~~127~~770,~~058~~350.0622 ~~243~~242,~~835~~064,~~170~~819.0785 0.~~98519261~~97803968 31,~~127~~770,~~058~~350.0622 M-1 0.00 11,688,000.00 1.00000000 0.00 M-2 0.00 6,875,000.00 1.00000000 0.00 M-3 0.00 5,500,000.00 1.00000000 0.00 C 0.00 3,436,900.00 1.00000000 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 Totals 31,~~127~~770,~~058~~350.0622 ~~271~~269,~~335~~564,~~170~~819.0785 0.~~98667335~~98023571 31,~~127~~770,~~058~~350.0622

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 247,500,000.00 ~~997~~985.~~82718436~~19260634 0.00000000 127.~~63457802~~15293018 0.00000000 M-1 11,688,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 6,875,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 5,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 3,436,900.00 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 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1000 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 127.~~63457802~~15293018 ~~985~~978.~~19260634~~03967616 0.~~98519261~~97803968 127.~~63457802~~15293018 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 C 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 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 247,500,000.00 4.~~34875~~06500% ~~246~~243,~~962~~835,~~228~~170.1307 ~~924~~825,~~813~~991.5264 0.00 0.00 M-1 11,688,000.00 4.~~73875~~45500% 11,688,000.00 4743,~~693~~391.9470 0.00 0.00 M-2 6,875,000.00 54.~~13875~~85500% 6,875,000.00 3027,~~422~~815.1110 0.00 0.00 M-3 5,500,000.00 65.~~08875~~80500% 5,500,000.00 2826,~~837~~606.0025 0.00 0.00 C 3,436,900.00 0.00000% 3,436,900.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 275,000,000.00 1923,~~031,766~~804.5769 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 0.00 0.00 ~~924~~825,~~813~~991.5264 0.00 ~~243~~242,~~835~~064,~~170~~819.0785 M-1 0.00 0.00 4743,~~693~~391.9470 0.00 11,688,000.00 M-2 0.00 0.00 3027,~~422~~815.1110 0.00 6,875,000.00 M-3 0.00 0.00 2826,~~837~~606.0025 0.00 5,500,000.00 C 0.00 0.00 1823,~~076,618~~482.6480 0.00 3,436,900.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 P 0.00 0.00 1811,~~698~~783.0819 0.00 100.00 Totals 0.00 0.00 21,~~127~~759,~~083~~070.2968 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 247,500,000.00 4.~~34875~~06500% ~~997~~985.~~82718436~~19260634 3.~~73662028~~33733996 0.00000000 0.00000000 M-1 11,688,000.00 4.~~73875~~45500% 1000.00000000 43.~~08059035~~71250000 0.00000000 0.00000000 M-2 6,875,000.00 54.~~13875~~85500% 1000.00000000 4.~~42503418~~04583273 0.00000000 0.00000000 M-3 5,500,000.00 65.~~08875~~80500% 1000.00000000 54.~~24309091~~83750000 0.00000000 0.00000000 C 3,436,900.00 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 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1000 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 0.00000000 0.00000000 3.~~73662028~~33733996 0.00000000 ~~985~~978.~~19260634~~03967616 M-1 0.00000000 0.00000000 43.~~08059035~~71250000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~42503418~~04583273 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 54.~~24309091~~83750000 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~313~~239.~~25282668~~60045390 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 P 0.00000000 0.00000000 ~~186980~~117831.~~80000000~~90000000 0.00000000 1000.00000000 (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 53,~~502~~775,~~712~~244.7678 Liquidations, Insurance Proceeds, Reserve Funds 3.4308 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Total Deposits 53,~~502~~775,~~716~~247.1986 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~248~~245,~~574~~826.8496 Payment of Interest and Principal 53,~~254~~529,~~141~~420.3590 Total Withdrawals (Pool Distribution Amount) 53,~~502~~775,~~716~~247.1986 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~114~~113,~~359~~056.1227 Wells Fargo 1,~~489~~466.5863 PMI Fee ~~132~~131,~~726~~304.1406 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~248~~245,~~574~~826.8496

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 3.4308 3.4308 1,000.00

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 03 0 0 03 0706,550.0091 0.00 0.00 0706,550.0091 30 Days 1110 0 1 0 1211 3,~~760~~131,~~682~~399.5407 0.00 ~~368~~396,~~729~~376.2571 0.00 43,~~129~~527,~~411~~775.7978 60 Days 03 0 38 0 311 01,061,313.0070 0.00 12,~~140~~893,~~724~~711.7160 0.00 13,~~140~~955,~~724~~025.7130 90 Days 0 0 14 0 14 0.00 0.00 ~~351~~1,~~433~~491,512.1097 0.00 ~~351~~1,~~433~~491,512.1097 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 1113 03 513 0 1629 34,~~760~~192,~~682~~712.5477 0706,550.0091 14,~~860~~781,~~887~~601.0628 0.00 59,~~621~~680,~~569~~864.6096 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~~378310% 0.000000% 0.000000% 0.~~000000~~378310% 0.~~000000~~262044% 0.000000% 0.000000% 0.~~000000~~262044% 30 Days 1.~~380176~~261034% 0.000000% 0.~~125471~~126103% 0.000000% 1.~~505646~~387137% 1.~~385813~~161365% 0.000000% 0.~~135877~~147007% 0.000000% 1.~~521690~~308372% 60 Days 0.~~000000~~378310% 0.000000% 01.~~376412~~008827% 0.000000% 01.~~376412~~387137% 0.~~000000~~393617% 0.000000% 01.~~420358~~073212% 0.000000% 01.~~420358~~466829% 90 Days 0.000000% 0.000000% 0.~~125471~~504414% 0.000000% 0.~~125471~~504414% 0.000000% 0.000000% 0.~~129503~~553168% 0.000000% 0.~~129503~~553168% 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 1.~~380176~~639344% 0.~~000000~~378310% 01.~~627353~~639344% 0.000000% 23.~~007528~~656999% 1.~~385813~~554982% 0.~~000000~~262044% 01.~~685738~~773387% 0.000000% 23.~~071551~~590413%

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 ~~101~~143,~~172~~958.1731

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 98.~~566939~~814684% Weighted Average Net Coupon 98.~~066939~~314684% Weighted Average Pass-Through Rate 87.~~480122~~727494% Weighted Average Maturity(Stepdown Calculation ) ~~350~~349 Beginning Scheduled Collateral Loan Count ~~630~~797 Number Of Loans Paid In Full 64 Ending Scheduled Collateral Loan Count ~~797~~793 Beginning Scheduled Collateral Balance ~~219~~271,~~932~~335,~~217~~170.0207 Ending Scheduled Collateral Balance ~~271~~269,~~335~~564,~~170~~819.0785 Ending Actual Collateral Balance at 3130-~~May~~Jun-2001 ~~271~~269,~~370~~630,~~037~~937.2692 Monthly P &I Constant 2,~~518~~147,~~100~~698.4533 Ending Scheduled Balance for Premium Loans ~~271~~269,~~335~~564,~~170~~819.0785 Scheduled Principal 142,~~442~~800.2560 Unscheduled Principal 2,984,279.44 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 3,436,900.00 Overcollateralized Amount 3,436,900.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,~~076~~627,~~618~~549.6462

Yield Maintenance Agreement Payment $0.00 Prepayment Penalties $1811,~~698~~783.0819 Net WAC Carry Over Amount $0.00 Credit Enhancement % 10.~~0195695015~~1350296730% Delinquency % 02.~~5436666637~~0160599157% 3 Month Rolling Average Delinquency % 01.~~3516627911~~4427082245% ~~Step Down Date Not Occurred Trigger Event Not Occurred~~ PMI Payments During Prepayment Period $0.00 Cummulative PMI Payments $0.00 PMI Claims Denied During Prepayment ~~Period~~Perio $0.00 Cummulative PMI Claims Denied $0.00 PreFunding Account Beginning Balance $~~54,530,011~~0.1100 Subsequent PreFunding Withdrawal $~~54,529,674~~0.7400 PreFunding Account Remainder to ~~Bondholders~~Bondholde $~~336~~0.3700 PreFunding Account Ending Balance $0.00 Interest Coverage Account Beginning ~~Balance~~Balan $~~202,607~~0.8400 Interest Coverage Account Deposits $~~180,818~~0.9800 Interest Coverage Account W/D to Bond $~~168,823~~0.1400 Interest Coverage Account W/D to OOMC $~~214,603~~0.6800 Interest Coverage Account Ending Balance $0.00 Trigger Event: Not Occurred In Effect Since: N/A Comments: N/A Step Down Date: Do Not Step Down In Effect Since: N/A Comments: N/A Delinquency Cut-off Date Ending Balance: $270,157,559.68

~~Group~~General ~~Level~~Excess ~~Collateral~~Availabel ~~Statement~~Amt Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & ARM Weighted Average Coupon Rate 9.775458 10.451676 9.566939 Weighted Average Net Rate 8.743961 9.358992 9.066939 Weighted Average Maturity 350 350 350 Beginning Loan Count 66 564 630 Loans Paid In Full (27) (140) (167) Ending Loan Count 93 704 797 Beginning Scheduled Balance 20823,~~605,214~~482.7080 ~~199,327,002.32~~Extra ~~219,932,217.02 Ending scheduled Balance 26,297,778.15 245,037,391.92 271,335,170.07 Record Date 05/31/2001 05/31/2001 05/31/2001~~ Principal ~~And~~Distribution Interest Constant 232,283.91 2,285,816.54 2,518,100.45 Scheduled Principal 17,890.02 124,552.23 142,442.25 Unscheduled Principal 2,554.03 2,981,725.41 2,984,279.44 Scheduled Interest 214,393.89 2,161,264.31 2,375,658.20 Servicing Fees 10,965.92 103,393.20 114,359.12 Master Servicing Fees 0.00 ~~0.00~~Overcollateralization ~~0.00~~Amt ~~Trustee Fee 145.47 1~~3,~~344.11 1~~436,~~489~~900.~~58 FRY Amount 0.~~00 ~~0.00~~Overcollateralization ~~0.00~~Defici ~~Special Hazard Fee~~ 0.00 ~~0.00~~Overcollateralization ~~0.00~~Increa ~~Other Fee 11,511.25 121,214.89 132,726.14 Pool Insurance Fee~~ 0.00 ~~0.00~~Overcollateralization ~~0.00~~Releas ~~Spread Fee 1~~ 0.00 ~~0.00~~Target ~~0.00~~Overcollateralization ~~Spread Fee 2 0.00 0.00 0.00 Spread Fee~~ 3 ~~0.00 0.00 0.00 Net Interest 191~~,~~771.25 1~~436,~~935,312~~900.~~11 2,127,083.36 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~~

Filing Compare · ASSET BACKED CERTIFICATES SERIES 2001-2