8-K 1 opt01001.txt NOVEMBER 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): November 26, 2001 OPTION ONE MORTGAGE LOAN TRUST Asset Backed Certificates, Series 2001-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-14625-07 Pooling and Servicing Agreement) (Commission (State or other File Number) 52-2289264 jurisdiction 52-2289263 of Incorporation) IRS EIN 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 November 26, 2001 a distribution was made to holders of OPTION ONE MORTGAGE LOAN TRUST, Asset Backed Certificates, 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 Certificates, Series 2001-1 Trust, relating to the November 26, 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 Asset Backed Certificates, Series 2001-1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 12/3/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2001-1 Trust, relating to the November 26, 2001 distribution. EX-99.1

Option One Mortgage Loan Trust Mortgage Pass-Through Certificates Record Date: 910/3031/01 Distribution Date: 1011/2526/01 OOMC 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 A 68389FBJ2 SEN 2.~~91125~~67000% ~~104~~102,~~606~~084,~~806~~340.6698 ~~253~~242,~~780~~280.4615 2,~~522~~624,~~465~~281.6869 M-1 68389FBK9 SEN 3.~~31125~~07000% 6,825,000.00 18,~~832~~624.7367 0.00 M-2 68389FBL7 SEN 3.~~73125~~49000% 4,550,000.00 14,~~147~~115.6611 0.00 M-3 68389FBM5 SEN 4.~~66125~~42000% 1,625,000.00 6,~~312~~384.1144 0.00 C OPT01001C JUN 0.00000% 1,300,000.00 ~~634~~625,~~393~~936.6791 0.00 R-1 OPT0101R1 RES 0.00000% 0.00 0.00 0.00 R-2 OPT0101R2 RES 0.00000% 0.00 0.00 0.00 P OPT01000P ~~Pre_Pay~~Pre_Pa 0.00000% 100.00 7291,~~267~~767.1834 0.00 Totals ~~118~~116,~~906~~384,~~906~~440.6698 999,~~733~~108.8162 2,~~522~~624,~~465~~281.6869

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~102~~99,~~084~~460,~~340~~059.9829 2,~~776~~866,~~246~~561.1484 0.00 M-1 0.00 6,825,000.00 18,~~832~~624.7367 0.00 M-2 0.00 4,550,000.00 14,~~147~~115.6611 0.00 M-3 0.00 1,625,000.00 6,~~312~~384.1144 0.00 C 0.00 1,300,000.00 ~~634~~625,~~393~~936.6791 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 7291,~~267~~767.1834 0.00 Totals 0.00 ~~116~~113,~~384~~760,~~440~~159.9829 3,~~522~~623,~~199~~390.4931 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 115,700,000.00 ~~104~~102,~~606~~084,~~806~~340.6698 0.00 2,~~522~~624,~~465~~281.6869 0.00 0.00 M-1 6,825,000.00 6,825,000.00 0.00 0.00 0.00 0.00 M-2 4,550,000.00 4,550,000.00 0.00 0.00 0.00 0.00 M-3 1,625,000.00 1,625,000.00 0.00 0.00 0.00 0.00 C 1,299,900.00 1,300,000.00 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 130,000,000.00 ~~118~~116,~~906~~384,~~906~~440.6698 0.00 2,~~522~~624,~~465~~281.6869 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 2,~~522~~624,~~465~~281.6869 ~~102~~99,~~084~~460,~~340~~059.9829 0.~~88231928~~85963750 2,~~522~~624,~~465~~281.6869 M-1 0.00 6,825,000.00 1.00000000 0.00 M-2 0.00 4,550,000.00 1.00000000 0.00 M-3 0.00 1,625,000.00 1.00000000 0.00 C 0.00 1,300,000.00 1.00007693 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 2,~~522~~624,~~465~~281.6869 ~~116~~113,~~384~~760,~~440~~159.9829 0.~~89526493~~87507815 2,~~522~~624,~~465~~281.6869

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 115,700,000.00 ~~904~~882.~~12106016~~31928245 0.00000000 2122.~~80177770~~68177779 0.00000000 M-1 6,825,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,550,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 1,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 1,299,900.00 1000.07692899 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

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 2122.~~80177770~~68177779 ~~882~~859.~~31928245~~63750467 0.~~88231928~~85963750 2122.~~80177770~~68177779 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 1,000.07692899 1.00007693 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 115,700,000.00 2.~~91125~~67000% ~~104~~102,~~606~~084,~~806~~340.6698 ~~253~~242,~~780~~280.4717 0.00 0.00 M-1 6,825,000.00 3.~~31125~~07000% 6,825,000.00 18,~~832~~624.7367 0.00 0.00 M-2 4,550,000.00 3.~~73125~~49000% 4,550,000.00 14,~~147~~115.6611 0.00 0.00 M-3 1,625,000.00 4.~~66125~~42000% 1,625,000.00 6,~~312~~384.1144 0.00 0.00 C 1,299,900.00 0.00000% 1,300,000.00 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 130,000,000.00 ~~293~~281,~~072~~404.9739 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 0.0102 0.00 ~~253~~242,~~780~~280.4615 0.00 ~~102~~99,~~084~~460,~~340~~059.9829 M-1 0.00 0.00 18,~~832~~624.7367 0.00 6,825,000.00 M-2 0.00 0.00 14,~~147~~115.6611 0.00 4,550,000.00 M-3 0.00 0.00 6,~~312~~384.1144 0.00 1,625,000.00 C 0.00 0.00 ~~634~~625,~~393~~936.6791 0.00 1,300,000.00 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 7291,~~267~~767.1834 0.00 100.00 Totals 0.0102 0.00 999,~~733~~108.8162 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 115,700,000.00 2.~~91125~~67000% ~~904~~882.~~12106016~~31928245 2.~~19343535~~09403777 0.00000000 0.00000000 M-1 6,825,000.00 3.~~31125~~07000% 1000.00000000 2.~~75937436~~72888938 0.00000000 0.00000000 M-2 4,550,000.00 3.~~73125~~49000% 1000.00000000 3.~~10937582~~10222198 0.00000000 0.00000000 M-3 1,625,000.00 4.~~66125~~42000% 1000.00000000 3.~~88437538~~92888615 0.00000000 0.00000000 C 1,299,900.00 0.00000% 1000.07692899 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) 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 A 0.~~00000009~~00000017 0.00000000 2.~~19343526~~09403760 0.00000000 ~~882~~859.~~31928245~~63750467 M-1 0.00000000 0.00000000 2.~~75937436~~72888938 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 3.~~10937582~~10222198 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~88437538~~92888615 0.00000000 1000.00000000 C 0.00000000 0.00000000 ~~488~~481.~~03267174~~52697131 0.00000000 1000.07692899 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 ~~722671~~917673.~~80000000~~40000000 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 3,~~547~~627,~~254~~031.2760 Liquidations, Insurance Proceeds, Reserve Funds 2.5015 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 7291,~~267~~767.1834 Total Deposits 3,~~619~~718,~~523~~801.9509 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 9795,~~324~~410.4678 Payment of Interest and Principal 3,~~522~~623,~~199~~390.4931 Total Withdrawals (Pool Distribution Amount) 3,~~619~~718,~~523~~801.9509 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 4948,~~544~~493.52 Radian PMI Policy Fee 4746,~~135~~286.88 ~~Special Servicing Fee 0.00~~ Trustee Fee ~~644~~630.0638 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 9795,~~324~~410.4678

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 2.5015 2.5015 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 3 0 0 3 540,~~701~~422.5697 0.00 0.00 540,~~701~~422.5697 30 Days 147 0 10 0 157 42,~~888~~625,~~973~~703.5769 0.00 ~~283,331~~0.7300 0.00 52,~~172~~625,~~305~~703.3069 60 Days 16 0 53 0 69 ~~196~~1,~~232~~791,548.0815 0.00 ~~797~~1,~~100~~227,332.4984 0.00 ~~993~~3,~~332~~018,880.5799 90 Days 10 6 2630 2 3538 ~~87,361~~0.2400 1,~~542~~541,~~093~~574.6879 56,~~699~~072,~~910~~813.2873 375,~~914~~779.9029 7,~~705~~990,~~280~~167.1081 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 1613 9 3233 2 5957 54,~~172~~417,~~566~~251.8984 2,~~082~~081,~~795~~997.2476 67,~~780~~300,~~342~~146.5057 375,~~914~~779.9029 14,~~411~~175,~~619~~175.5346 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.~~785340~~804290% 0.000000% 0.000000% 0.~~785340~~804290% 0.~~464401~~474849% 0.000000% 0.000000% 0.~~464401~~474849% 30 Days 31.~~664921~~876676% 0.000000% 0.~~261780~~000000% 0.000000% 31.~~926702~~876676% 42.~~199067~~307106% 0.000000% 0.~~243349~~000000% 0.000000% 42.~~442416~~307106% 60 Days 01.~~261780~~608579% 0.000000% 10.~~308901~~804290% 0.000000% 12.~~570681~~412869% 01.~~168541~~574165% 0.000000% 01.~~684618~~078410% 0.000000% 02.~~853159~~652575% 90 Days 0.~~261780~~000000% 1.~~570681~~608579% 68.~~806283~~042895% 0.~~523560~~536193% 910.~~162304~~187668% 0.~~075033~~000000% 1.~~324481~~354523% 45.~~895568~~335949% 0.~~322868~~330183% 67.~~617950~~020655% 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.~~188482~~485255% 2.~~356021~~412869% 8.~~376963~~847185% 0.~~523560~~536193% 15.~~445026~~281501% 43.~~442641~~881270% 1.~~788882~~829372% 56.~~823535~~414360% 0.~~322868~~330183% 12.~~377925~~455185%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~149~~157,~~138~~223.0493

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 10.~~342094~~332643% Weighted Average Net Coupon 9.~~842094~~832644% Weighted Average Pass-Through Rate 9.~~359902~~348895% Weighted Average Maturity(Stepdown Calculation ) ~~343~~342 Beginning Scheduled Collateral Loan Count ~~389~~382 Number Of Loans Paid In Full 79 Ending Scheduled Collateral Loan Count ~~382~~373 Beginning Scheduled Collateral Balance ~~118~~116,~~906~~384,~~906~~440.6698 Ending Scheduled Collateral Balance ~~116~~113,~~384~~760,~~440~~159.9829 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2001 ~~116~~113,~~430~~809,~~009~~431.7204 Monthly P &I Constant 1,~~080~~057,~~656~~261.6267 Special Servicing Fee 0.00 Prepayment Penalties 7291,~~267~~767.1834 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~116~~113,~~384~~760,~~440~~159.9829 Scheduled Principal 55,~~867~~129.9823 Unscheduled Principal 2,~~466~~569,~~597~~152.7046

Step Down Date: DODo ~~NOT~~Not ~~STEP~~Step ~~DOWN~~Down In Effect Since: N/A Comments: N/A Trigger Event: ~~NOT~~Triggered ~~TRIGGERED~~ In Effect Since: ~~N/A~~November 2001 Comments: N/A Delinquency Cut-Off Date Balance $~~117~~115,~~534~~777,~~200~~494.8373 Unscheduled Principal - Voluntary . Unscheduled Principal - Involuntary . PMI Refund / Cash Adjustment $617.53

~~Miscellaneous Reporting~~ General Excess Available Amt ~~634~~625,~~393~~936.6791 Extra Principal Distribution ~~Amt~~ 0.00 Overcollateralization Amt 1,300,000.00 Overcollateralzation Deficit Amt 0.00 Overcollateralization Release Amt 0.00 Overcollateralization Increase Amt 0.00 Target Overcollateralization Amt 1,300,000.00

Filing Compare · OPTION ONE MORT ACCEP CORP ASSET BACKED CERT SER 2001-1