8-K 1 mhl01001.txt OCT 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): October 22, 2001 MELLON HOME EQUITY LINE OF CREDIT TRUST Asset-Backed Notes, Series 2001-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-77275 Pooling and Servicing Agreement) (Commission PENDING (State or other File Number) IRS EIN jurisdiction of Incorporation) 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 October 22, 2001 a distribution was made to holders of MELLON HOME EQUITY LINE OF CREDIT TRUST, Asset-Backed Notes, Series 2001-1 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 Asset-Backed Notes, Series 2001-1 Trust, relating to the October 22, 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. MELLON HOME EQUITY LINE OF CREDIT TRUST Asset-Backed Notes, Series 2001-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Indenture Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 10/25/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Notes, Series 2001-1 Trust, relating to the October 22, 2001 distribution. EX-99.1

Mellon Home Equity Line of Credit Mortgage Pass-Through Certificates Record Date: 89/3128/01 Distribution Date: 910/2022/01 MHL Series: 2001-1 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 NOTE 58552BAA3 SEN 3.~~85000~~29750% ~~599~~588,~~521~~842,~~280~~933.6538 1,~~987~~725,~~579~~964.5806 108,~~678~~117,~~347~~079.2731 CERT MHL01CERT SEN 0.00000% 0.00 2018,~~933~~241,~~501~~248.6993 0.00 OC OC 0.00000% 15,288,451.36 0.00 0.00 AMBAC SEN 0.10000% 0.00 5152,~~625~~341.4459 0.00 Totals ~~614~~604,~~809~~131,~~732~~384.0174 2220,~~972~~019,~~706~~554.7158 108,~~678~~117,~~347~~079.2731

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses NOTE 0.00 ~~588~~580,~~842~~725,~~933~~854.3807 129,~~665~~843,~~926~~043.8537 0.00 CERT 0.00 0.00 2018,~~933~~241,~~501~~248.6993 0.00 OC 0.00 15,288,451.36 0.00 0.00 AMBAC 0.00 0.00 5152,~~625~~341.4459 0.00 Totals 0.00 ~~604~~596,~~131~~014,~~384~~305.7443 3328,~~651~~136,~~053~~633.9889 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) NOTE 669,000,000.00 ~~599~~588,~~521~~842,~~280~~933.6538 0.00 108,~~678~~117,~~347~~079.2731 0.00 0.00 CERT 0.00 0.00 0.00 0.00 0.00 0.00 OC 10,486,727.24 15,288,451.36 0.00 0.00 0.00 0.00 AMBAC 0.00 0.00 0.00 0.00 0.00 0.00 Totals 679,486,727.24 ~~614~~604,~~809~~131,~~732~~384.0174 0.00 108,~~678~~117,~~347~~079.2731 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 NOTE 108,~~678~~117,~~347~~079.2731 ~~588~~580,~~842~~725,~~933~~854.3807 0.~~88018376~~86805060 108,~~678~~117,~~347~~079.2731 CERT 0.00 0.00 0.00000000 0.00 OC 0.00 15,288,451.36 1.45788586 0.00 AMBAC 0.00 0.00 0.00000000 0.00 Totals 108,~~678~~117,~~347~~079.2731 ~~604~~596,~~131~~014,~~384~~305.7443 0.~~88909961~~87715371 108,~~678~~117,~~347~~079.2731

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion NOTE 669,000,000.00 ~~896~~880.~~14541203~~18375692 0.00000000 1512.~~96165511~~13315293 0.00000000 CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 10,486,727.24 1457.88585992 0.00000000 0.00000000 0.00000000 AMBAC 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 NOTE 0.00000000 1512.~~96165511~~13315293 ~~880~~868.~~18375692~~05060399 0.~~88018376~~86805060 1512.~~96165511~~13315293 CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 1,457.88585992 1.45788586 0.00000000 AMBAC 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 NOTE 669,000,000.00 3.~~85000~~29750% ~~599~~588,~~521~~842,~~280~~933.6538 1,~~987~~725,~~579~~964.5806 0.00 0.00 CERT 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 10,486,727.24 0.00000% 15,288,451.36 0.00 0.00 0.00 AMBAC 0.00 0.10000% ~~599~~588,~~521~~842,~~280~~933.6538 5152,~~625~~341.4459 0.00 0.00 Totals 679,486,727.24 21,~~039~~778,~~205~~305.0265 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 NOTE 0.00 0.00 1,~~987~~725,~~579~~964.5806 0.00 ~~588~~580,~~842~~725,~~933~~854.3807 CERT 0.00 0.00 2018,~~933~~241,~~501~~248.6993 0.00 0.00 OC 0.00 0.00 0.00 0.00 15,288,451.36 AMBAC 0.00 0.00 5152,~~625~~341.4459 0.00 ~~588~~580,~~842~~725,~~933~~854.3807 Totals 0.00 0.00 2220,~~972~~019,~~706~~554.7158 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 NOTE 669,000,000.00 3.~~85000~~29750% ~~896~~880.~~14541203~~18375692 2.~~97097097~~57991638 0.00000000 0.00000000 CERT 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 10,486,727.24 0.00000% 1457.88585992 0.00000000 0.00000000 0.00000000 AMBAC 0.00 0.10000% ~~896~~880.~~14541203~~18375692 0.~~07716807~~07823855 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 NOTE 0.00000000 0.00000000 2.~~97097097~~57991638 0.00000000 ~~880~~868.~~18375692~~05060399 CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 1457.88585992 AMBAC 0.00000000 0.00000000 0.~~07716807~~07823855 0.00000000 ~~880~~868.~~18375692~~05060399 (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 3328,~~908~~403,~~531~~165.5437 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~483~~0.8300 Realized Losses 0(13,041.0064) Prepayment Penalties 0.00 Total Deposits 3328,~~909~~390,~~015~~123.3773 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~257~~253,~~961~~489.3984 Payment of Interest and Principal 3328,~~651~~136,~~053~~633.9889 Total Withdrawals (Pool Distribution Amount) 3328,~~909~~390,~~015~~123.3773 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~256~~251,~~170~~721.7241 Indenture Trustee Fee - Wells Fargo Bank Minnesota, N.A 1,~~249~~226.0076 Owner Trustee Fee - Wilmington Trust Company 541.67 Special Servicing Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~257~~253,~~961~~489.3984

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 613 0 0 613 ~~100~~340,~~565~~723.00 0.00 0.00 ~~100~~340,~~565~~723.00 30 Days 3039 4 03 0 3446 ~~840~~942,~~228~~864.00 ~~132~~50,~~337~~132.00 061,937.00 0.00 ~~972~~1,~~565~~054,933.00 60 Days 1110 04 52 0 16 ~~213~~304,~~840~~735.00 0108,042.00 ~~678~~32,~~311~~203.00 0.00 ~~892~~444,~~151~~980.00 90 Days 03 0 2826 0 2829 0103,677.00 0.00 ~~557~~559,~~855~~958.00 0.00 ~~557~~663,~~855~~635.00 120 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 4152 1021 3331 0 84104 1,~~054~~351,~~068~~276.00 ~~232~~498,~~902~~897.00 1654,~~236,166~~098.00 0.00 2,~~523~~504,~~136~~271.00 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.~~015025~~032959% 0.000000% 0.000000% 0.~~015025~~032959% 0.~~016646~~057167% 0.000000% 0.000000% 0.~~016646~~057167% 30 Days 0.~~075126~~098877% 0.~~010017~~010141% 0.~~000000~~007606% 0.000000% 0.~~085143~~116624% 0.~~139080~~158195% 0.~~021905~~008411% 0.~~000000~~010392% 0.000000% 0.~~160986~~176998% 60 Days 0.~~027546~~025353% 0.~~000000~~010141% 0.~~012521~~005071% 0.000000% 0.~~040067~~040565% 0.~~035396~~051129% 0.~~000000~~018127% 0.~~112279~~005403% 0.000000% 0.~~147675~~074659% 90 Days 0.~~000000~~007606% 0.000000% 0.~~070117~~065918% 0.000000% 0.~~070117~~073524% 0.~~000000~~017395% 0.000000% 0.~~092340~~093950% 0.000000% 0.~~092340~~111345% 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 0.~~102672~~131836% 0.~~025042~~053241% 0.~~082638~~078594% 0.000000% 0.~~210352~~263672% 0.~~174477~~226719% 0.~~038552~~083706% 0.~~204619~~109745% 0.000000% 0.~~417647~~420170%

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~618973~~092764% Weighted Average Net Coupon 76.~~115478~~589251% Weighted Average Pass-Through Rate 76.~~014715~~485284% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 4039,~~596~~933 Number Of Loans Paid In Full ~~663~~490 Ending Scheduled Collateral Loan Count 39,~~933~~443 Beginning Scheduled Collateral Balance ~~614~~604,~~809~~131,~~732~~384.0174 Ending Scheduled Collateral Balance ~~604~~596,~~131~~014,~~384~~305.7443 Ending Actual Collateral Balance at 3128-~~Aug~~Sep-2001 ~~604~~596,~~131~~014,~~384~~305.7443 Monthly P &I Constant 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~483~~13,041.8364 Overcollateralized reduction Amount 0.00 Specified O/C Amount 15,288,451.36 Overcollateralized Amount 0.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00

Cumulative Losses $316,~~079~~121.5519

Miscellaneous Reporting Investor Amount ~~604~~596,~~131~~014,~~384~~305.7443 Investor Floating Allocation Percentage 100.000000%

Filing Compare · MELLON HOME EQUITY LINE OF CREDIT TR AS BA NOT SER 2000-1