8-K 1 cwa01bc3_edgar0112.txt CWABS INC ASSETBACKED CERTIFICATES SERIES 2001-BC3 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): December 25, 2001 CWABS, INC. (Depositor) (Issuer in respect of Asset Backed Certificates, Series 2001-BC3) (Exact name of registrant as specified in charter) Delaware 33-63714 95-4449516 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 155 N. Lake Avenue, Pasadena, CA 91110-7137 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (818)-304-4428 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Item 5. Other Events CWABS, INC. Asset Backed Certificates Series 2001-BC3 On December 25, 2001, The Bank of New York, as Trustee for CWABS, INC., Asset Backed Certificates Series 2001-BC3, made a monthly distribution to Certificate holders of principal and/or interest pursuant to the Pooling and Servicing Agreement, dated as of August 1, 2001, among CWABS, INC. as Depositor, Countrywide Home Loans, Seller and Master Servicer and The Bank of New York, as Trustee. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of CWABS, INC., Asset Backed Certificates Series 2001-BC3 relating to the distribution date of December 25, 2001 prepared by The Bank of New York, as Trustee under the Pooling and Servicing Agreement dated as of August 1, 2001. SIGNATURES 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 thereunto duly authorized. Dated: December 25, 2001 CWABS, INC. By: /s/ Courtney Bartholomew ------------------------------ Name: Courtney Bartholomew Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit Payment Date: 12/25/01 ------------------------------------------------------------ Countrywide Home Loans Asset Backed Certificates, Series 2001-BC3 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A ~~367~~363,~~704~~408,~~541~~870.0660 2.~~660000~~340000% 47,~~295~~444,~~670~~697.4661 ~~869~~708,~~416~~647.9630 58,~~165~~153,~~087~~344.4291 0.00 0.00 AIO ~~397~~393,~~704~~408,~~541~~870.0660 45.~~638793~~141000% 0.00 1,~~537~~681,~~400~~379.3444 1,~~537~~681,~~400~~379.3444 0.00 0.00 Residual AR 0.00 2.~~660000~~340000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate M1 10,000,000.00 2.~~970000~~650000% 0.00 2622,~~400~~083.0033 2622,~~400~~083.0033 0.00 0.00 M2 8,000,000.00 3.~~370000~~050000% 0.00 2320,~~964~~333.4433 2320,~~964~~333.4433 0.00 0.00 B1 4,000,000.00 3.~~670000~~350000% 0.00 1311,~~048~~166.8967 1311,~~048~~166.8967 0.00 0.00 B2 8,000,000.00 4.~~420000~~100000% 0.00 3127,~~431~~333.1133 3127,~~431~~333.1133 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - ~~397~~393,~~704~~408,~~541~~870.0660 - 47,~~295~~444,~~670~~697.4661 2,~~501~~470,~~661~~943.7540 69,~~797~~915,~~332~~641.2101 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A ~~363~~355,~~408~~964,~~870~~172.6099 0.00 AIO ~~393~~385,~~408~~964,~~870~~172.6099 04,049.0075 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- Subordinate M1 10,000,000.00 0.00 M2 8,000,000.00 0.00 B1 4,000,000.00 0.00 B2 8,000,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - ~~393~~385,~~408~~964,~~870~~172.6099 -4,049.75 --------------------------------------------------------------------------------

Payment Date: 12/25/01 ------------------------------------------------------------ Countrywide Home Loans Asset Backed Certificates, Series 2001-BC3 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A ~~367~~363,~~704~~408,~~541~~870.0660 2.~~660000~~340000% 126671NA0 1120.~~609920~~120804 21.~~349776~~915263 ~~982~~962.~~186137~~065332 AIO ~~397~~393,~~704~~408,~~541~~870.0660 45.~~638793~~141000% 126671NF9 0.000000 34.~~843500~~203448 ~~983~~964.~~521931~~910191 Residual AR 0.00 2.~~660000~~340000% 126671NG7 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate M1 10,000,000.00 2.~~970000~~650000% 126671NB8 0.000000 2.~~640000~~208333 1,000.000000 M2 8,000,000.00 3.~~370000~~050000% 126671NC6 0.000000 2.~~995556~~541667 1,000.000000 B1 4,000,000.00 3.~~670000~~350000% 126671ND4 0.000000 32.~~262222~~791667 1,000.000000 B2 8,000,000.00 4.~~420000~~100000% 126671NE2 0.000000 3.~~928889~~416667 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - ~~397~~393,~~704~~408,~~541~~870.0660 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Asset Backed Certificates, Series 2001-BC3 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 385,963,923.36 385,963,923.36 Loan count 3088 3088 Avg loan rate 9.163269% 9.16 Prepay amount 7,036,180.29 7,036,180.29 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 159,862.84 159,862.84 Sub servicer fees 0.00 0.00 Trustee fees 2,950.56 2,950.56 Agg advances N/A N/A Adv this period 335,383.71 335,383.71 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 Cumulative losses 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 Fraud 8,000,000.00 8,000,000.00 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 92.374346% 100.000000% 363,408,870.60 ----------------------------------------------------------------------------- Junior 7.625654% 0.000000% 30,000,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 226 25,453,315.21 60 to 89 days 51 5,009,843.86 90 or more 12 1,218,931.90 Foreclosure 44 5,829,816.06 Totals: 333 37,511,907.03 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 9,915,641.01 9,915,641.01 Principal remittance amount 7,444,697.61 7,444,697.61 Interest remittance amount 2,470,943.40 2,470,943.40

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