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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): November 10, 1998
CWABS, INC., (as depositor under the Pooling and Servicing
Agreement, to be dated as of November 14, 1998,
providing for the issuance of the CWABS, Inc.,
Countrywide Home Equity Loan Trust 1998-D Revolving Home
Equity Loan Asset Backed Certificates, Series 1998-D).
CWABS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-60823 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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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-D.
Filing of Derived Materials.
In connection with the offering of the Certificates, Merrill Lynch,
Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and Countrywide Securities
Corporation ("Countrywide Securities" and, together with Merrill Lynch, the
"Underwriters"), have each prepared certain materials for distribution to
potential investors (the "Merrill Lynch 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 Merrill
Lynch or Countrywide Securities. Concurrently with the filing hereof, pursuant
to Rule 311(i) of Regulation S-T, the Company is filing the Merrill Lynch
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 Merrill Lynch
Computational Materials are attached hereto as Exhibit 99.1 and the Countrywide
Computational Materials are attached hereto as Exhibit 99.2.
* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated October 26, 1998 and the
prospectus supplement dated November 10, 1998, of CWABS, Inc., relating to its
Revolving Home Equity Loan Asset Backed Certificates, Series 1998-D.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Merrill Lynch Computational Materials
99.2 Countrywide Computational Materials
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: November 18, 1998
Exhibit Index
Exhibit Page
99.1 Merrill Lynch Computational Materials 7
99.2 Countrywide Computational Materials
Exhibit 99.1
Merrill Lynch Computational Materials
In accordance with Rule 311(i) of Regulation S-T, the Merrill Lynch
Computational Materials are being filed on paper pursuant to Form SE.
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.
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
November 18, 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-D
Revolving Home Equity Loan Asset Backed
Certificates, 1998-D
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
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Amy Sunshine
Enclosure
