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: ~~May~~June 3115, 2007 (date of earliest event reported) ASSET BACKED SECURITIES CORPORATION (as depositor under the Pooling and Servicing Agreement, relating to the Asset Backed Pass-Through Certificates,

Series AMQ 2007-HE2)


ASSET BACKED SECURITIES CORPORATION, HOME EQUITY LOAN TRUST, SERIES AMQ 2007-HE2
(Exact name of Issuing Entity as specified in its charter)

ASSET BACKED SECURITIES CORPORATION
(Exact name of Depositor as specified in its charter)

DLJ MORTGAGE CAPITAL, INC.
(Exact name of Sponsor as specified in its charter)
Delaware	333-131465-09	13-3354848
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

Eleven Madison Avenue New York, New York 10010
(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code (212) 325-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[¨ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [¨ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [¨ ] Pre-commencement communications pursuant to Rule 14d-2(d) under the Exchange Act (17 CFR 240.14d-2(b)) [¨ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

Item 8.01. Other Events.

~~McKee~~Asset ~~Nelson~~Backed ~~LLP~~Securities ~~has~~Corporation ~~been~~(the ~~retained~~“Company”) byentered ~~this~~into ~~Registrant~~a Pooling and Servicing Agreement dated as ~~counsel~~of ~~for~~May ~~its~~1, ~~Registration~~2007 ~~Statement~~(the on“Agreement”) ~~Form~~among ~~S-3~~Asset Backed Securities Corporation, as depositor, (~~Commission~~the ~~File~~“Depositor”), NoDLJ Mortgage Capital, Inc., ~~333-131465)~~as inseller ~~connection~~(the ~~with~~“Seller”), ~~various~~Select ~~transactions~~Portfolio Servicing, Inc. ~~Legal~~, ~~opinions~~as byservicer ~~McKee~~(the ~~Nelson~~“Servicer”), ~~LLP~~Wells toFargo beBank, ~~incorporated~~N.A., ~~into~~as trustee (the ~~Registration~~“Trustee”) ~~Statement~~and ~~are~~OfficeTiger ~~attached~~Global ~~hereto~~Real asEstate ~~Exhibit~~Services, 5Inc.1, ~~Exhibit~~as 8loan performance advisor (“OfficeTiger”), providing for the issuance of the Company’s Asset Backed Pass-Through Certificates, Series AMQ 2007-HE2 (the “Certificates”).1 The Certificates were issued on May 31, 2007. The Pooling and Servicing Agreement is annexed hereto as Exhibit 234.1.

Item 9.01. ~~Financial Statements and Exhibits.~~

Financial Statements, Pro Forma Financial Information and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

5.1


4.1	Pooling and Servicing Agreement dated as of May 1, 2007, by and among the Depositor, the Seller, the Servicer, the Trustee and the Loan Performance Advisor.
99.1	Reconstitution Agreement dated as of May 31, 2007, by and among Argent Mortgage Company, LLC, DLJ Mortgage Capital, Inc. and Asset Backed Securities Corporation.
99.2	Mortgage Loan Purchase and Interim Servicing Agreement dated as of March 23, 2007, by and among DLJ Mortgage Capital, Inc., ACC Capital Holdings Corporation, Argent Mortgage Company, LLC and AMC Mortgage Services, Inc.
99.3	Mortgage Loan Purchase and Interim Servicing Agreement dated as of April 27, 2007, by and among DLJ Mortgage Capital, Inc., ACC Capital Holdings Corporation, Argent Mortgage Company, LLC and AMC Mortgage Services, Inc.
99.4	Master Agreement, dated as of May 31, 2007, between Credit Suisse International and Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement in respect of Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2007-HE2.
99.5	Schedule to the Master Agreement, dated as of May 31, 2007, between Credit Suisse International and Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement in respect of Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2007-HE2.
99.6	Credit Support Annex, dated as of May 31, 2007, between Credit Suisse International and Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement in respect of Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2007-HE2.
99.7	Trust Confirmation, dated as of May 31, 2007, between Credit Suisse International and Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement in respect of Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2007-HE2.
99.8	Novation Confirmation, dated as of May 31, 2007, between Credit Suisse International, Credit Suisse Management LLC, and Wells Fargo Bank, N.A., not in its individual or corporate capacity, but solely as Trustee on behalf of the Trust created under the Pooling and Servicing Agreement in respect of Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2007-HE2.

Opinion of McKee Nelson LLP as to legality (including consent of such firm).

8.1

Opinion of McKee Nelson LLP as to certain tax matters (including consent of such firm included in Exhibit 5.1).

23.1

Consent of McKee Nelson LLP (included in Exhibit 5.1).

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 ~~hereunto~~thereunto duly authorized.

ASSET BACKED SECURITIES CORPORATION By: /s/ Gregory Richter _ Name: Gregory Richter Title: Vice President

ByDated: June ~~/s/~~15, ~~Gregory Richter~~ 2007

~~Name:~~EXHIBIT 4.1

Gregory Richter

Title:

Vice President

Dated: May 31, 2007

EXHIBIT INDEX

Exhibit No.

Description

Page No.

5.1

Opinion of McKee Nelson LLP as to legality (including consent of such firm).

8.1

Opinion of McKee Nelson LLP as to certain tax matters (including consent of such firm included in Exhibit 5.1).

23.1

Consent of McKee Nelson LLP (included in Exhibit 5.1).

Filing Compare · Asset Backed Securities CORP Home Equity Loan Trust, Series AMQ 2007-HE2