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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, dated as of August 11, 1998, providing
for the issuance of the CWABS, INC., Asset-Backed
Certificates, Series 1998-2).
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) 225-3232
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Item 5. Other Events.
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Filing of Computational Materials
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Pursuant to Rule 424(b) 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 relating to its
Asset-Backed Certificates, Series 1998-2.
In connection with the offering of the Asset-Backed Certificates, Series
1998-2, Prudential Securities Incorporated ("Prudential Securities"), as
underwriter of the Underwritten Certificates, has prepared certain materials
(the "Prudential Securities Computational Materials") for distribution to their
potential investors. Similarly, Countrywide Securities Corporation ("CSC"), as
underwriter of the Underwritten Certificates, has prepared certain materials
(the "CSC Computational Materials") for distribution to their potential
investors. Although the Company provided Prudential Securities and CSC with
certain information regarding the characteristics of the Mortgage Loans in the
related portfolio, the Company did not participate in the preparation of the
Prudential Securities Computational Materials or the CSC Computational
Materials.
For purposes of this Form 8-K, "Computational Materials" shall mean
computer generated tables and/or charts displaying, with respect to any Class or
Classes of Certificates, any of the following: yield; average life; duration;
expected maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Mortgage Loans; the
proposed structure; decrement tables; or similar information (tabular or
otherwise) of a statistical, mathematical, tabular or computational nature. The
Prudential Securities Computational Materials, which are listed as Exhibit 99.1
hereto, and the CSC Computational Materials, which are listed as Exhibit 99-2
hereto, are filed on Form SE dated August 27, 1998.
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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 25, 1998, of CWABS, Inc.,
relating to its Asset-Backed Certificates, Series 1998-2.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Prudential Securities Computational Materials filed on Form SE
dated August 27, 1998.
99.2 CSC Computational Materials filed on Form SE dated August 27,
1998.
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 27, 1998
Exhibit Index
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Exhibit Page
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99.1 Prudential Securities Incorporated Computational Materials filed on
Form SE dated August 27, 1998.
99.2 Countrywide Securities Corporation Computational Materials filed on
Form SE dated August 27, 1998.
