8-K 1 abs01he1.txt SEPTEMBER 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): September 17, 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 September 17, 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 September 17, 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/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 9/17/01 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 September 17, 2001 distribution. EX-99.1

Asset Backed Securities Corp Home Equity Loan ~~Trust~~T Mortgage Pass-Through Certificates Record Date: 78/31/01 Distribution Date: 89/1517/01 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) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 04541GBA9 SEN 43.~~06500~~87500% ~~351~~341,~~743~~062,~~303~~639.9118 1,~~191~~211,~~530~~482.4492 1013,~~680~~020,~~664~~477.7363 A-2 04541GBB7 SEN 43.~~10000~~91000% ~~349~~335,~~047~~380,~~619~~554.0058 1,~~192~~202,~~579~~059.3680 139,~~667~~299,~~064~~935.4235 M-1 04541GBC5 SUB 4.~~46000~~27000% 68,800,000.00 ~~255~~269,~~706~~294.67 0.00 M-2 04541GBD3 SUB 4.~~98000~~79000% 50,500,000.00 ~~209~~221,~~575~~737.0008 0.00 B 04541GBE1 SUB 6.~~33000~~14000% 46,003,566.00 ~~242~~258,~~668~~923.8140 0.00 BIO 04541GBG6 SUB 3.50000% 0.00 241,666.83 0.00 P 04541GBH4 SEN 0.00000% 100.00 ~~581~~609,~~224~~316.0162 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% 1014,~~752~~655,~~102~~926.7289 2928.6116 0.00 Totals ~~876~~856,~~846~~402,~~691~~786.6365 34,~~914~~014,~~980~~509.7348 2422,~~347~~320,~~729~~412.1598

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~341~~328,~~062~~042,~~639~~161.1856 1114,~~872~~231,~~195~~960.1755 0.00 A-2 0.00 ~~335~~326,~~380~~080,~~554~~619.5823 1410,~~859~~501,~~643~~995.7815 0.00 M-1 0.00 68,800,000.00 ~~255~~269,~~706~~294.67 0.00 M-2 0.00 50,500,000.00 ~~209~~221,~~575~~737.0008 0.00 B 0.00 46,003,566.00 ~~242~~258,~~668~~923.8140 0.00 BIO 0.00 0.00 241,666.83 0.00 P 0.00 100.00 ~~581~~609,~~224~~316.0162 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 1418,~~655~~333,~~926~~921.8915 2928.6116 0.00 Totals 0.00 ~~856~~837,~~402~~760,~~786~~367.6594 2826,~~262~~334,~~709~~922.8846 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 ~~351~~341,~~743~~062,~~303~~639.9118 0.00 1013,~~680~~020,~~664~~477.7363 0.00 0.00 A-2 376,450,000.00 ~~349~~335,~~047~~380,~~619~~554.0058 0.00 139,~~667~~299,~~064~~935.4235 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 1014,~~752~~655,~~102~~926.7289 0.00 0.00 0.00 0.00 Totals 918,203,666.00 ~~876~~856,~~846~~402,~~691~~786.6365 0.00 2422,~~347~~320,~~729~~412.1598 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 1013,~~680~~020,~~664~~477.7363 ~~341~~328,~~062~~042,~~639~~161.1856 0.~~90599718~~87140965 1013,~~680~~020,~~664~~477.7363 A-2 139,~~667~~299,~~064~~935.4235 ~~335~~326,~~380~~080,~~554~~619.5823 0.~~89090332~~86619902 139,~~667~~299,~~064~~935.4235 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 1418,~~655~~333,~~926~~921.8915 0.00000000 0.00 Totals 2422,~~347~~320,~~729~~412.1598 ~~856~~837,~~402~~760,~~786~~367.6594 0.~~93269371~~91239057 2422,~~347~~320,~~729~~412.1598

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 ~~934~~905.~~36924933~~99718204 0.00000000 2834.~~37206729~~58753521 0.00000000 A-2 376,450,000.00 ~~927~~890.~~20844468~~90331938 0.00000000 3624.~~30512530~~70430429 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 2834.~~37206729~~58753521 ~~905~~871.~~99718204~~40964686 0.~~90599718~~87140965 2834.~~37206729~~58753521 A-2 0.00000000 3624.~~30512530~~70430429 ~~890~~866.~~90331938~~19901509 0.~~89090332~~86619902 3624.~~30512530~~70430429 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 43.~~06500~~87500% ~~351~~341,~~743~~062,~~303~~639.9118 1,~~191~~211,~~530~~482.4492 0.00 0.00 A-2 376,450,000.00 43.~~10000~~91000% ~~349~~335,~~047~~380,~~619~~554.0058 1,~~192~~202,~~579~~059.3680 0.00 0.00 M-1 68,800,000.00 4.~~46000~~27000% 68,800,000.00 ~~255~~269,~~706~~294.67 0.00 0.00 M-2 50,500,000.00 4.~~98000~~79000% 50,500,000.00 ~~209~~221,~~575~~737.0008 0.00 0.00 B 46,003,566.00 6.~~33000~~14000% 46,003,566.00 ~~242~~258,~~668~~923.8140 0.00 0.00 BIO 0.00 3.50000% 82,857,200.00 241,666.83 0.00 0.00 P 100.00 0.00000% 100.00 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 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 X 0.00 0.00000% 1014,~~752~~655,~~102~~926.7289 0.00 0.00 0.00 Totals 918,203,666.00 3,~~333~~405,~~727~~164.1170 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 1,~~191~~211,~~530~~482.4492 0.00 ~~341~~328,~~062~~042,~~639~~161.1856 A-2 0.00 0.00 1,~~192~~202,~~579~~059.3680 0.00 ~~335~~326,~~380~~080,~~554~~619.5823 M-1 0.00 0.00 ~~255~~269,~~706~~294.67 0.00 68,800,000.00 M-2 0.00 0.00 ~~209~~221,~~575~~737.0008 0.00 50,500,000.00 B 0.00 0.00 ~~242~~258,~~668~~923.8140 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 ~~581~~609,~~224~~316.0162 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 2928.6116 0.00 1418,~~655~~333,~~926~~921.8915 Totals 0.00 0.00 34,~~914~~014,~~980~~509.7348 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 43.~~06500~~87500% ~~934~~905.~~36924933~~99718204 3.~~16517583~~21817750 0.00000000 0.00000000 A-2 376,450,000.00 43.~~10000~~91000% ~~927~~890.~~20844468~~90331938 3.~~16796217~~19314597 0.00000000 0.00000000 M-1 68,800,000.00 4.~~46000~~27000% 1000.00000000 3.~~71666672~~91416672 0.00000000 0.00000000 M-2 50,500,000.00 4.~~98000~~79000% 1000.00000000 4.~~15000000~~39083327 0.00000000 0.00000000 B 46,003,566.00 6.~~33000~~14000% 1000.00000000 5.~~27499999~~62833325 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 3.~~16517583~~21817750 0.00000000 ~~905~~871.~~99718204~~40964686 A-2 0.00000000 0.00000000 3.~~16796217~~19314597 0.00000000 ~~890~~866.~~90331938~~19901509 M-1 0.00000000 0.00000000 3.~~71666672~~91416672 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~15000000~~39083327 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~27499999~~62833325 0.00000000 1000.00000000 BIO 0.00000000 0.00000000 2.91666663 0.00000000 1000.00000000 P 0.00000000 0.00000000 ~~5812240~~6093166.~~10000000~~20000000 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 2826,~~646~~691,~~462~~882.9115 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses (~~18,313~~125.9900) Total Deposits 2826,~~628~~691,~~148~~757.9215 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~365~~356,~~439~~834.0469 Payment of Interest and Principal 2826,~~262~~334,~~709~~922.8846 Total Withdrawals (Pool Distribution Amount) 2826,~~628~~691,~~148~~757.9215 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 0.00 Servicing Fee - Ocwen ~~207~~203,~~484~~347.0545 Servicing Fee - Meritech ~~155~~150,~~264~~951.2500 Servicing Fee - Option One 2,~~690~~536.7424 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~365~~356,~~439~~834.0469

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 ~~174~~169 0 0 0 ~~174~~169 2119,~~547~~165,~~443~~128.7364 0.00 0.00 0.00 2119,~~547~~165,~~443~~128.7364 60 Days 7947 0 0 0 7947 85,~~719~~574,~~902~~901.8651 0.00 0.00 0.00 85,~~719~~574,~~902~~901.8651 90 Days 5249 4553 ~~289~~374 03 ~~386~~479 6,~~018~~211,~~777~~506.3539 56,~~613~~749,~~457~~530.7096 3848,~~222~~188,~~310~~906.9482 0250,049.0086 4961,~~854~~399,~~545~~994.9903 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 ~~305~~265 4553 ~~289~~374 03 ~~639~~695 3630,~~286~~951,~~123~~536.9454 56,~~613~~749,~~457~~530.7096 3848,~~222~~188,~~310~~906.9482 0250,049.0086 8086,~~121~~140,~~892~~024.5818 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 2.~~711970~~685950% 0.000000% 0.000000% 0.000000% 2.~~711970~~685950% 2.~~514239~~263949% 0.000000% 0.000000% 0.000000% 2.~~514239~~263949% 60 Days 10.~~231297~~746980% 0.000000% 0.000000% 0.000000% 10.~~231297~~746980% 10.~~017472~~658555% 0.000000% 0.000000% 0.000000% 10.~~017472~~658555% 90 Days 0.~~810474~~778767% 0.~~701372~~842339% 45.~~504364~~944056% 0.~~000000~~047680% 67.~~016209~~612842% 0.~~702294~~733756% 0.~~655000~~797312% 45.~~459927~~692485% 0.~~000000~~029538% 57.~~817221~~253091% 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 4.~~753741~~211697% 0.~~701372~~842339% 45.~~504364~~944056% 0.~~000000~~047680% 911.~~959476~~045772% 43.~~234005~~656260% 0.~~655000~~797312% 45.~~459927~~692485% 0.~~000000~~029538% 910.~~348931~~175595% (7) The 90 day category for delinquent, bankruptcy, foreclosure, and REO contains loans that are 90 days or more delinquent.

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 8070 0 0 0 8070 108,~~444~~411,~~674~~516.0713 0.00 0.00 0.00 108,~~444~~411,~~674~~516.0713 60 Days 3924 0 0 0 3924 43,~~764~~483,~~980~~634.4335 0.00 0.00 0.00 43,~~764~~483,~~980~~634.4335 90 Days 2528 1926 ~~144~~182 02 ~~188~~238 3,~~258~~494,~~220~~863.3350 23,~~718~~754,~~335~~656.8894 1823,~~534~~839,~~905~~856.8382 0195,649.0086 2431,~~511~~285,~~462~~027.0412 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 ~~144~~122 1926 ~~144~~182 02 ~~307~~332 1815,~~467~~390,~~874~~013.8398 23,~~718~~754,~~335~~656.8894 1823,~~534~~839,~~905~~856.8382 0195,649.0086 3943,~~721~~180,~~116~~177.5460 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 2.~~534051~~267574% 0.000000% 0.000000% 0.000000% 2.~~534051~~267574% 21.~~429896~~985198% 0.000000% 0.000000% 0.000000% 21.~~429896~~985198% 60 Days 10.~~235350~~777454% 0.000000% 0.000000% 0.000000% 10.~~235350~~777454% 10.~~108546~~822171% 0.000000% 0.000000% 0.000000% 10.~~108546~~822171% 90 Days 0.~~791891~~907029% 0.~~601837~~842242% 45.~~561292~~895692% 0.~~000000~~064788% 57.~~955021~~709751% 0.~~758007~~824821% 0.~~632406~~886135% 45.~~312044~~626435% 0.~~000000~~046175% 57.~~702457~~383566% 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 43.~~561292~~952057% 0.~~601837~~842242% 45.~~561292~~895692% 0.~~000000~~064788% 910.~~724422~~754778% 43.~~296449~~632191% 0.~~632406~~886135% 45.~~312044~~626435% 0.~~000000~~046175% 910.~~240899~~190936% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 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 9499 0 0 0 9499 1110,~~102~~753,~~769~~612.6651 0.00 0.00 0.00 1110,~~102~~753,~~769~~612.6651 60 Days 4023 0 0 0 4023 32,~~954~~091,~~922~~267.4316 0.00 0.00 0.00 32,~~954~~091,~~922~~267.4316 90 Days 21 27 26192 ~~145~~1 0241 ~~198~~ 2,~~760~~716,~~557~~642.0289 2,~~895~~994,~~121~~874.8202 1924,~~687~~349,~~405~~050.1100 054,400.00 2530,~~343~~114,~~083~~966.9591 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 ~~161~~143 2627 ~~145~~192 01 ~~332~~363 1715,~~818~~561,~~249~~522.1156 2,~~895~~994,~~121~~874.8202 1924,~~687~~349,~~405~~050.1100 054,400.00 4042,~~400~~959,~~776~~846.0458 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 23.~~884320~~088924% 0.000000% 0.000000% 0.000000% 23.~~884320~~088924% 2.~~599108~~543284% 0.000000% 0.000000% 0.000000% 2.~~599108~~543284% 60 Days 10.~~227370~~717629% 0.000000% 0.000000% 0.000000% 10.~~227370~~717629% 0.~~925829~~494595% 0.000000% 0.000000% 0.000000% 0.~~925829~~494595% 90 Days 0.~~828475~~655226% 0.~~797791~~842434% 45.~~449218~~990640% 0.~~000000~~031201% 67.~~075483~~519501% 0.~~646234~~642500% 0.~~677735~~708303% 45.~~608732~~758674% 0.~~000000~~012866% 57.~~932700~~122343% 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 4.~~940166~~461778% 0.~~797791~~842434% 45.~~449218~~990640% 0.~~000000~~031201% 1011.~~187174~~326053% 43.~~171171~~680379% 0.~~677735~~708303% 45.~~608732~~758674% 0.~~000000~~012866% 910.~~457637~~160222%

OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 22,~~309~~434.69 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 10.~~429944~~425167% Weighted Average Net Coupon 9.~~929944~~925167% Weighted Average Pass-Through Rate 9.~~929944~~925167% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 6,~~543~~416 Number Of Loans Paid In Full ~~127~~124 Ending Scheduled Collateral Loan Count 6,~~416~~292 Beginning Scheduled Collateral Balance ~~876~~856,~~846~~402,~~691~~786.6365 Ending Scheduled Collateral Balance ~~856~~837,~~402~~760,~~786~~367.6593 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2001 ~~857~~846,~~016~~535,~~604~~498.9723 Monthly P &I Constant 8,~~029~~454,~~985~~963.1756 Ending Scheduled Balance for Premium Loans ~~856~~837,~~402~~760,~~786~~367.6593 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 20,659,582.00 Overcollateralized Amount 1418,~~655~~333,~~926~~921.8915 Overcollateralized Deficiency Amount 62,~~003~~325,~~655~~660.1185 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 3,~~903~~678,~~824~~119.1726 Excess Cash Amount 0.00

Credit Enhancement Percentage 21.~~0134~~9200% Class A-1 Formula Rate for next cycle 3.~~8750~~7225% Class A-2 Formula Rate for next cycle 3.~~9100~~7575% Class M-1 Formula Rate for next cycle 4.~~2700~~1175% Class M-2 Formula Rate for next cycle 4.~~7900~~6375% Class B Formula Rate for next cycle 65.~~1400~~9875%

Group Level Collateral Statement Group 1 2 Total Collateral Description Mixed ARM Mixed ARM Mixed Fixed Weighted Average Coupon Rate 1112.~~998212~~099066 10.~~452203~~453651 10.~~429944~~425167 Weighted Average Net Rate 11.~~498212~~599066 9.~~952203~~953651 9.~~929944~~925167 Weighted Average Maturity (34) (45) 1 Beginning Loan Count 3,~~216~~157 3,~~327~~259 6,~~543~~416 Loans Paid In Full 5970 6854 ~~127~~124 Ending Loan Count 3,~~157~~087 3,~~259~~205 6,~~416~~292 Beginning Scheduled Balance ~~438~~429,~~516~~548,~~915~~748.5883 ~~438~~426,~~329~~854,~~776~~037.0582 ~~876~~856,~~846~~402,~~691~~786.6365 Ending scheduled Balance ~~429~~418,~~548~~673,~~748~~879.8378 ~~426~~419,~~854~~086,~~037~~488.8215 ~~856~~837,~~402~~760,~~786~~367.6593 Record Date 0708/31/2001 0708/31/2001 0708/31/2001 Principal And Interest Constant 4,~~006~~533,~~595~~432.6235 43,~~023~~921,~~389~~531.5521 8,~~029~~454,~~985~~963.1756 Scheduled Principal ~~203~~202,~~303~~483.9334 ~~205~~203,~~463~~045.1814 ~~408~~405,~~767~~528.1148 Unscheduled Principal 810,~~764~~672,~~862~~385.8171 117,~~270~~564,~~275~~504.0553 2018,~~035~~236,~~137~~890.8624 Scheduled Interest 4,~~384~~330,~~515~~949.7001 3,~~817~~718,~~926~~486.3707 8,~~202~~049,~~442~~435.0708 Servicing Fees ~~182~~178,~~715~~978.3864 ~~182~~177,~~637~~855.4185 ~~365~~356,~~352~~834.7949 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 4,~~201~~151,~~800~~970.3237 3,~~635~~540,~~288~~630.9622 7,~~837~~692,~~089~~600.2859 Realized Loss Amount ~~7,082~~0.4100 ~~11,231~~125.5800 ~~18,313~~125.9900 Cumulative Realized Loss 10,583.24 11,~~726~~851.45 22,~~309~~434.69 Percentage of Cumulative Losses 0.00 0.00 0.00

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