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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): August 27, 1998
CWABS, INC., (as depositor under the Pooling and Servicing Agreement, to be
dated as of August 20, 1998, providing for the issuance of the CWABS, Inc.,
Countrywide Home Equity Loan Trust 1998-C Revolving Home Equity
Loan Asset Backed Certificates, Series 1998-C).
CWABS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-37539 95-4596514
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
4500 Park Granada
Calabasas, California 91302
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (818) 225-3240
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<PAGE>
Item 5. Other Events.
Filing of Certain Materials
Pursuant to Rule 424(b)(5) under the Securities Act of 1933,
concurrently with, or subsequent to, the filing of this Current Report on Form
8-K (the "Form 8-K"), CWABS, Inc. (the "Company") is filing a prospectus and
prospectus supplement with the Securities and Exchange Commission (the
"Commission") relating to its Revolving Home Equity Loan Asset Backed
Certificates, Series 1998-C.
Filing of Derived Materials.
In connection with the offering of the Certificates, Salomon Brothers
Inc ("Salomon") and Countrywide Securities Corporation ("Countrywide Securities"
and, together with Salomon, the "Underwriters"), have each prepared certain
materials for distribution to potential investors (the "Salomon Computational
Materials" and the "Countrywide Computational Materials", respectively).
Although the Company provided the Underwriters with certain information
regarding the characteristics of the Mortgage Loans (the "Loans") in the related
portfolio, it did not participate in the preparation of the Computational
Materials by either Salomon or Countrywide Securities. Concurrently with the
filing hereof, pursuant to Rule 311(i) of Regulation S-T, the Company is filing
the Salomon Computational Materials and the Countrywide Computational Materials
by paper filing on Form SE.
For purposes of this Form 8-K, the term Computational Materials shall
mean computer generated tables and/or charts displaying, with respect to the
Certificates, any of the following: yield; average life, duration; expected
maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Loans; the proposed
structure; decrement tables; or similar information (tabular or otherwise) of a
statistical, mathematical, tabular or computational nature. The Salomon
Computational Materials are attached hereto as Exhibit 99.1 and the Countrywide
Computational Materials are attached hereto as Exhibit 99.2.
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated August 21, 1998 and the
prospectus supplement dated August 21, 1998, of CWABS, Inc., relating to its
Revolving Home Equity Loan Asset Backed Certificates, Series 1998-C.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Salomon Computational Materials
99.2 Countrywide Computational Materials
<PAGE>
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 duly authorized.
CWABS, INC.
By: /s/ David Walker
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David Walker
Vice President
Dated: August 24, 1998
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Exhibit Index
Exhibit Page
99.1 Salomon Computational Materials 7
99.2 Countrywide Computational Materials
<PAGE>
Exhibit 99.1
Salomon Computational Materials
In accordance with Rule 311(i) of Regulation S-T, the Salomon
Computational Materials are being filed on paper pursuant to Form SE.
<PAGE>
Exhibit 99.2
Countrywide Computational Materials
In accordance with Rule 311(i) of Regulation S-T, the Countrywide
Computational Materials are being filed on paper pursuant to Form SE.
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
August 24, 1998
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWABS, Inc.
Countrywide Home Equity Loan Trust 1998-C
Revolving Home Equity Loan Asset Backed
Certificates, 1998-C
Ladies and Gentlemen:
On behalf of CWABS, Inc. (the "Company"), we enclose herewith for
filing, pursuant to the Securities and Exchange Act of 1934, as amended, the
Company's Current Report on Form 8-K, for certain materials in connection with
the above-referenced transaction.
Very truly yours,
/s/ Amy Sunshine
Amy Sunshine
Enclosure
