8-K 1 cwa02bc2_edgar0207.txt CWABS INC ASSET-BACKED CERTIFICATES SERIES 2002-BC2 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, 2002 CWA (Depositor) (Issuer in respect of Asset-Backed Securities, Series 2002-BC2) (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 CWA Asset-Backed Securities Series 2002-BC2 On July 25, 2002, The Bank of New York, as Trustee for CWA, Asset-Backed Securities Series 2002-BC2, made a monthly distribution to Certificate holders of principal and/or interest pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2002, among CWA 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 CWA, Asset-Backed Securities Series 2002-BC2 relating to the distribution date of July 25, 2002 prepared by The Bank of New York, as Trustee under the Pooling and Servicing Agreement dated as of April 1, 2002. 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: July 25, 2002 CWA By: /s/ Courtney Bartholomew ------------------------------ Name: Courtney Bartholomew Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated July 25, 2002 Payment Date: 07/25/02 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Securities, Series 2002-BC2 ------------------------------------------------------------

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 ~~517~~509,~~000~~520,~~000~~964.0096 2.~~113000~~110000% 25,~~634~~392,~~128~~535.9385 ~~849~~895,~~660~~907.7870 36,~~483~~288,~~789~~443.7155 0.00 0.00 AIO ~~550~~542,~~000~~520,~~100~~964.0096 4.~~891060~~443415% 0.00 2,~~241~~008,~~736~~871.2528 2,~~241~~008,~~736~~871.2528 0.00 0.00 M1 10,175,000.00 2.~~493000~~490000% 0.00 1921,~~729~~113.3313 1921,~~729~~113.3313 0.00 0.00 M2 8,250,000.00 2.~~993000~~990000% 0.00 1920,~~205~~556.0825 1920,~~205~~556.0825 0.00 0.00 B1 5,225,000.00 3.~~693000~~690000% 0.00 1516,~~007~~066.9488 1516,~~007~~066.9488 0.00 0.00 B2 4,950,000.00 5.~~843000~~840000% 0.00 2224,~~495~~090.5500 2224,~~495~~090.5500 0.00 0.00 B3 2,200,000.00 5.~~843000~~840000% 0.00 910,~~998~~706.0267 910,~~998~~706.0267 0.00 0.00 B4 2,200,000.00 5.~~843000~~840000% 0.00 910,~~998~~706.0267 910,~~998~~706.0267 0.00 0.00 P 100.00 0.000000% 0.00 ~~24,801~~0.7100 ~~24,801~~0.7100 0.00 0.00 Residual AR ~~100~~0.00 0.000000% ~~100~~0.00 0.00 ~~100~~0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - ~~550~~542,~~000~~521,~~200~~064.0096 - 25,~~634~~392,~~228~~535.9385 3,~~212~~008,~~632~~018.6856 58,~~846~~400,~~861~~554.6141 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A ~~514~~504,~~365~~128,~~871~~429.0711 0.00 AIO ~~547~~537,~~365~~128,~~871~~429.0711 0.00 M1 10,175,000.00 0.00 M2 8,250,000.00 0.00 B1 5,225,000.00 0.00 B2 4,950,000.00 0.00 B3 2,200,000.00 0.00 B4 2,200,000.00 0.00 P 100.00 0.00 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - ~~547~~537,~~365~~128,~~971~~529.0711 - --------------------------------------------------------------------------------

Payment Date: 07/25/02 ------------------------------------------------------------ Countrywide Home Loans Asset-Backed Securities, Series 2002-BC2 ------------------------------------------------------------

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 ~~517~~509,~~000~~520,~~000~~964.0096 2.~~113000~~110000% 126671PY6 510.~~095027~~430437 1.~~643444~~732897 ~~994~~975.~~904973~~103345 AIO ~~550~~542,~~000~~520,~~100~~964.0096 4.~~891060~~443415% 126671QF6 0.000000 43.~~075883~~652493 ~~995~~976.~~210494~~596966 M1 10,175,000.00 2.~~493000~~490000% 126671PZ3 0.000000 12.~~939000~~075000 1,000.000000 M2 8,250,000.00 2.~~993000~~990000% 126671QA7 0.000000 2.~~327889~~491667 1,000.000000 B1 5,225,000.00 3.~~693000~~690000% 126671QB5 0.000000 23.~~872333~~075000 1,000.000000 B2 4,950,000.00 5.~~843000~~840000% 126671QC3 0.000000 4.~~544556~~866667 1,000.000000 B3 2,200,000.00 5.~~843000~~840000% 126671QD1 0.000000 4.~~544556~~866667 1,000.000000 B4 2,200,000.00 5.~~843000~~840000% 126671QE9 0.000000 4.~~544556~~866667 1,000.000000 P 100.00 0.000000% 126671QH2 0.000000 ~~248,017~~0.~~100000~~000000 1,000.000000 Residual AR ~~100~~0.00 0.000000% 126671QG4 ~~1,000~~0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - ~~550~~542,~~000~~521,~~200~~064.0096 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Asset-Backed Securities, Series 2002-BC2 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 537,128,429.11 537,128,429.11 Loan count 3695 3695 Avg loan rate 8.542393% 8.54 Prepay amount 4,228,874.82 4,228,874.82 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 223,921.91 223,921.91 Sub servicer fees 741.14 741.14 Trustee fees 4,068.91 4,068.91 Agg advances N/A N/A Adv this period 283,163.93 283,163.93 -------------------------------------------------------------------------------- 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 11,000,002.00 11,000,002.00 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 100.000000% 100.000000% 542,521,064.96 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 188 26,496,971.08 60 to 89 days 40 5,417,480.44 90 or more 4 738,322.19 Foreclosure 11 1,522,247.48 Totals: 243 34,175,021.19 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 8,400,554.41 8,400,554.41 Principal remittance amount 5,392,535.85 5,392,535.85 Interest remittance amount 3,008,018.56 3,008,018.56

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