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Previous: ARC COMMUNICATIONS INC, 3, 1999-12-15 |
Next: CWABS INC, 8-K, 1999-12-15 |
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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 30, 1999
CWABS, INC. (as depositor under the Pooling and
Servicing Agreement, dated as of November 1, 1999,
providing for the issuance of the CWABS, INC.
Asset-Backed Certificates, Series 1999-4)..
CWABS, INC.
-----------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-84365 95-4596514
- ---------------------------- --------------- -----------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
4500 Park Granada
Calabasas, California 91302
- --------------------- ---------
(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.
Description of the Final Mortgage Loan Statistics *
On November 30, 1999, CWABS, Inc. (the "Company") entered into a Pooling and
Servicing Agreement dated as of November 1, 1999 (the "Pooling and Servicing
Agreement"), by and among the Company, as depositor, Countrywide Home Loans,
Inc. ("CHL"), as seller and master servicer, and The Bank of New York, as
trustee (the "Trustee"), providing for the issuance of the Company's
Asset-Backed Certificates, Series 1999-4 (the "Certificates").
- ----------------------------
* Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to them in the Prospectus dated August 12, 1999
and the Prospectus Supplement dated November 16, 1999, of CWABS,
Inc., relating to its Asset-Backed Certificates, Series 1999-4.
<PAGE>
Final Mortgage Loan Statistics
The following tables describe characteristics of the Mortgage Loans
in the Trust Fund as of the Cut-off Date. All percentages set forth below have
been calculated based on the principal balance of the Mortgage Loans as of the
date set forth below. The sum of the columns may not equal the respective
totals due to rounding.
[INSERT FROM DISK]
<TABLE>
<CAPTION>
FOR INTERNAL USE ONLY
ALL AMOUNTS SUBJECT TO CHANGE
PRELIMINARY INFORMATION SHEET
12/01/1999
COUNTRYWIDE 1999-4 : FIXED RATE LOANS (8K)
SCHEDULED 11/01/99 BALANCES
TOTAL CURRENT BALANCE: 43,345,985.76
NUMBER OF LOANS: 388
CURRENT
PRINCIPAL BAL PCT($) # OF LOANS PCT(#)
MORTGAGE RATE:
<S> <C> <C> <C> <C>
6.875 - 7.000 368,378.21 0.85 1 0.26
7.001 - 7.500 1,369,213.10 3.16 7 1.80
7.501 - 8.000 3,960,509.48 9.14 17 4.38
8.001 - 8.500 3,410,626.97 7.87 26 6.70
8.501 - 9.000 7,962,622.75 18.37 43 11.08
9.001 - 9.500 4,364,544.63 10.07 30 7.73
9.501 - 10.000 3,575,083.82 8.25 24 6.19
10.001 - 10.500 3,418,752.59 7.89 20 5.15
10.501 - 11.000 2,972,825.41 6.86 26 6.70
11.001 - 11.500 3,315,280.12 7.65 32 8.25
11.501 - 12.000 802,435.88 1.85 16 4.12
12.001 - 12.500 1,260,068.77 2.91 25 6.44
12.501 - 13.000 1,227,778.60 2.83 22 5.67
13.001 - 13.500 601,621.31 1.39 14 3.61
13.501 - 14.000 1,380,613.10 3.19 26 6.70
14.001 - 14.500 1,600,924.72 3.69 29 7.47
14.501 - 15.000 1,426,911.43 3.29 20 5.15
15.001 - 15.500 14,996.06 0.03 1 0.26
15.501 - 16.000 126,362.20 0.29 2 0.52
16.001 - 16.500 37,640.00 0.09 2 0.52
16.501 - 17.000 30,940.46 0.07 1 0.26
17.001 - 17.500 37,458.49 0.09 2 0.52
18.001 - 18.500 80,397.66 0.19 2 0.52
COMBINED LTV:
8.39 - 10.00 13,000.00 0.03 1 0.26
10.01 - 15.00 41,750.00 0.10 2 0.52
20.01 - 25.00 70,000.00 0.16 2 0.52
25.01 - 30.00 142,917.69 0.33 6 1.55
30.01 - 35.00 149,959.11 0.35 5 1.29
35.01 - 40.00 224,954.93 0.52 5 1.29
40.01 - 45.00 84,475.20 0.19 4 1.03
45.01 - 50.00 399,142.93 0.92 11 2.84
50.01 - 55.00 1,776,629.08 4.10 19 4.90
55.01 - 60.00 1,663,083.40 3.84 23 5.93
60.01 - 65.00 7,866,415.08 18.15 86 22.16
65.01 - 70.00 6,361,367.17 14.68 41 10.57
70.01 - 75.00 6,081,693.95 14.03 60 15.46
75.01 - 80.00 8,734,242.31 20.15 61 15.72
80.01 - 85.00 5,591,398.96 12.90 40 10.31
85.01 - 90.00 3,962,870.95 9.14 20 5.15
90.01 - 94.92 182,085.00 0.42 2 0.52
CURRENT BALANCE:
12,140.00 - 25,000.00 877,909.51 2.03 46 11.86
25,000.01 - 50,000.00 3,864,365.40 8.92 100 25.77
50,000.01 - 75,000.00 4,056,159.14 9.36 67 17.27
75,000.01 - 100,000.00 4,442,134.48 10.25 52 13.40
100,000.01 - 150,000.00 3,910,237.87 9.02 32 8.25
150,000.01 - 200,000.00 2,624,572.95 6.05 15 3.87
200,000.01 - 250,000.00 3,125,167.68 7.21 13 3.35
250,000.01 - 300,000.00 9,287,152.39 21.43 34 8.76
300,000.01 - 350,000.00 5,831,112.66 13.45 18 4.64
350,000.01 - 400,000.00 732,835.29 1.69 2 0.52
400,000.01 - 450,000.00 823,916.53 1.90 2 0.52
450,000.01 - 500,000.00 1,449,637.35 3.34 3 0.77
500,000.01 - 550,000.00 1,061,284.51 2.45 2 0.52
550,000.01 - 600,000.00 570,000.00 1.32 1 0.26
650,000.01 - 689,500.00 689,500.00 1.59 1 0.26
STATE:
Alaska 350,000.00 0.81 1 0.26
Arkansas 75,000.00 0.17 3 0.77
California 13,573,731.41 31.31 62 15.98
Colorado 654,684.06 1.51 4 1.03
Connecticut 555,831.43 1.28 4 1.03
District of Columbia 408,916.53 0.94 1 0.26
Florida 2,540,104.77 5.86 39 10.05
Georgia 2,370,045.52 5.47 19 4.90
Hawaii 830,014.23 1.91 3 0.77
Idaho 315,304.56 0.73 2 0.52
Illinois 1,517,369.30 3.50 14 3.61
Indiana 745,355.44 1.72 9 2.32
Kansas 29,972.73 0.07 1 0.26
Kentucky 87,469.29 0.20 3 0.77
Louisiana 679,502.15 1.57 9 2.32
Maine 704,500.00 1.63 2 0.52
Maryland 488,200.00 1.13 3 0.77
Massachusetts 545,750.00 1.26 5 1.29
Michigan 4,528,322.30 10.45 73 18.81
Minnesota 24,000.00 0.06 1 0.26
Mississippi 75,244.35 0.17 2 0.52
Missouri 14,100.00 0.03 1 0.26
Montana 53,936.58 0.12 1 0.26
New Hampshire 115,295.71 0.27 1 0.26
New Jersey 465,468.14 1.07 3 0.77
New York 1,877,827.64 4.33 11 2.84
North Carolina 226,825.17 0.52 3 0.77
Ohio 1,733,670.24 4.00 21 5.41
Oklahoma 104,992.09 0.24 2 0.52
Oregon 816,060.04 1.88 7 1.80
Pennsylvania 1,979,142.84 4.57 19 4.90
South Carolina 277,766.62 0.64 3 0.77
South Dakota 109,850.00 0.25 1 0.26
Tennessee 972,530.88 2.24 13 3.35
Texas 1,371,676.47 3.16 23 5.93
Utah 282,533.20 0.65 4 1.03
Virginia 639,852.55 1.48 4 1.03
Washington 778,018.92 1.79 5 1.29
Wisconsin 427,120.60 0.99 6 1.55
PROPERTY TYPE:
Single Family 35,263,325.69 81.35 331 85.31
PUD 3,324,228.43 7.67 18 4.64
2-4 Units 2,101,413.15 4.85 13 3.35
Condo Low-Rise 1,959,369.44 4.52 15 3.87
Manufactured Housing 697,649.05 1.61 11 2.84
OCCUPANCY:
Primary 42,489,316.40 98.02 373 96.13
Non-owner 449,715.10 1.04 13 3.35
Second Home 406,954.26 0.94 2 0.52
REMANING TERM:
120 - 120 106,765.00 0.25 5 1.29
121 - 180 13,294,934.60 30.67 182 46.91
181 - 240 95,400.00 0.22 1 0.26
301 - 360 29,848,886.16 68.86 200 51.55
LOAN PURPOSE:
Cash Out Refinance 25,589,677.45 59.04 217 55.93
Rate/Term Refinance 10,509,927.33 24.25 124 31.96
Purchase 7,246,380.98 16.72 47 12.11
LIEN POSITION:
First Lien 42,972,801.13 99.14 371 95.62
Second Lien 373,184.63 0.86 17 4.38
</TABLE>
<TABLE>
<CAPTION>
FOR INTERNAL USE ONLY
ALL AMOUNTS SUBJECT TO CHANGE
PRELIMINARY INFORMATION SHEET
12/01/1999
COUNTRYWIDE 1999-4 : ADJUSTABLE LOANS (8K)
SCHEDULED 11/01/99 BALANCES
TOTAL CURRENT BALANCE: 136,658,972.50
NUMBER OF LOANS: 964
CURRENT
MORTGAGE RATE: PRINCIPAL BAL PCT($) # OF LOANS PCT(#)
<S> <C> <C> <C> <C>
5.250 - 6.000 1,476,482.09 1.08 5 0.52
6.001 - 7.000 1,919,700.00 1.40 9 0.93
7.001 - 8.000 11,159,863.28 8.17 49 5.08
8.001 - 9.000 36,111,027.80 26.42 191 19.81
9.001 - 10.000 41,406,970.02 30.30 277 28.73
10.001 - 11.000 24,492,196.23 17.92 219 22.72
11.001 - 12.000 11,881,983.69 8.69 109 11.31
12.001 - 13.000 5,283,558.44 3.87 59 6.12
13.001 - 14.000 1,568,274.40 1.15 25 2.59
14.001 - 15.000 1,140,206.33 0.83 16 1.66
15.001 - 16.000 136,715.32 0.10 3 0.31
16.001 - 16.750 81,994.90 0.06 2 0.21
GROSS MARGIN:
2.750 - 3.000 130,000.00 0.10 1 0.10
4.001 - 5.000 3,797,065.62 2.78 21 2.18
5.001 - 6.000 44,438,624.77 32.52 266 27.59
6.001 - 7.000 57,020,061.85 41.72 419 43.46
7.001 - 8.000 28,891,096.44 21.14 230 23.86
8.001 - 9.000 1,820,078.08 1.33 25 2.59
9.001 - 9.750 562,045.74 0.41 2 0.21
MAXIMUM RATE:
12.250 - 13.000 1,476,482.09 1.08 5 0.52
13.001 - 14.000 1,919,700.00 1.40 9 0.93
14.001 - 15.000 13,523,895.47 9.90 58 6.02
15.001 - 16.000 37,267,637.26 27.27 200 20.75
16.001 - 17.000 39,944,744.40 29.23 275 28.53
17.001 - 18.000 23,445,740.55 17.16 214 22.20
18.001 - 19.000 11,375,123.26 8.32 105 10.89
19.001 - 20.000 4,778,458.52 3.50 52 5.39
20.001 - 21.000 1,568,274.40 1.15 25 2.59
21.001 - 22.000 1,140,206.33 0.83 16 1.66
22.001 - 23.000 136,715.32 0.10 3 0.31
23.001 - 23.750 81,994.90 0.06 2 0.21
CURRENT BALANCE:
13,300.00 - 25,000.00 532,473.38 0.39 25 2.59
25,000.01 - 50,000.00 5,274,359.46 3.86 135 14.00
50,000.01 - 75,000.00 10,848,942.90 7.94 172 17.84
75,000.01 - 100,000.00 14,024,376.32 10.26 159 16.49
100,000.01 - 150,000.00 19,694,165.73 14.41 160 16.60
150,000.01 - 200,000.00 13,180,073.12 9.64 75 7.78
200,000.01 - 250,000.00 13,828,290.59 10.12 60 6.22
250,000.01 - 300,000.00 25,591,110.09 18.73 94 9.75
300,000.01 - 350,000.00 12,307,683.53 9.01 38 3.94
350,000.01 - 400,000.00 5,548,701.42 4.06 15 1.56
400,000.01 - 450,000.00 3,812,751.60 2.79 9 0.93
450,000.01 - 500,000.00 6,174,481.18 4.52 13 1.35
500,000.01 - 550,000.00 520,777.66 0.38 1 0.10
550,000.01 - 600,000.00 1,156,609.80 0.85 2 0.21
600,000.01 - 650,000.00 2,539,673.39 1.86 4 0.41
750,000.01 - 800,000.00 760,000.00 0.56 1 0.10
850,000.01 - 864,502.33 864,502.33 0.63 1 0.10
MINIMUM RATE:
5.250 - 6.000 1,476,482.09 1.08 5 0.52
6.001 - 7.000 1,919,700.00 1.40 9 0.93
7.001 - 8.000 11,159,863.28 8.17 49 5.08
8.001 - 9.000 36,111,027.80 26.42 191 19.81
9.001 - 10.000 41,406,970.02 30.30 277 28.73
10.001 - 11.000 24,492,196.23 17.92 219 22.72
11.001 - 12.000 11,881,983.69 8.69 109 11.31
12.001 - 13.000 5,283,558.44 3.87 59 6.12
13.001 - 14.000 1,568,274.40 1.15 25 2.59
14.001 - 15.000 1,140,206.33 0.83 16 1.66
15.001 - 16.000 136,715.32 0.10 3 0.31
16.001 - 16.750 81,994.90 0.06 2 0.21
COMBINED LTV:
22.29 - 30.00 439,190.93 0.32 4 0.41
30.01 - 40.00 714,268.42 0.52 10 1.04
40.01 - 50.00 3,096,706.46 2.27 29 3.01
50.01 - 60.00 7,534,341.76 5.51 61 6.33
60.01 - 70.00 25,656,380.10 18.77 199 20.64
70.01 - 80.00 54,656,783.16 40.00 385 39.94
80.01 - 90.00 41,969,837.97 30.71 258 26.76
90.01 - 95.00 2,591,463.70 1.90 18 1.87
STATE:
Alaska 353,850.00 0.26 2 0.21
Arizona 2,985,168.38 2.18 21 2.18
Arkansas 301,814.45 0.22 6 0.62
California 49,639,549.53 36.32 220 22.82
Colorado 2,122,832.34 1.55 13 1.35
Connecticut 1,535,414.14 1.12 11 1.14
District of Columbia 637,618.90 0.47 2 0.21
Florida 5,072,949.80 3.71 60 6.22
Georgia 1,339,979.82 0.98 12 1.24
Hawaii 1,571,249.55 1.15 7 0.73
Idaho 625,094.00 0.46 6 0.62
Illinois 3,634,767.93 2.66 33 3.42
Indiana 2,076,247.12 1.52 24 2.49
Iowa 312,492.61 0.23 4 0.41
Kansas 955,539.70 0.70 12 1.24
Kentucky 1,347,541.04 0.99 17 1.76
Louisiana 1,202,110.00 0.88 15 1.56
Maryland 2,493,061.63 1.82 12 1.24
Massachusetts 3,059,190.00 2.24 17 1.76
Michigan 9,350,705.28 6.84 87 9.02
Minnesota 1,168,333.00 0.85 10 1.04
Mississippi 380,613.30 0.28 6 0.62
Missouri 1,982,858.32 1.45 17 1.76
Montana 72,496.00 0.05 1 0.10
Nebraska 363,750.00 0.27 4 0.41
Nevada 797,424.76 0.58 10 1.04
New Hampshire 671,295.00 0.49 5 0.52
New Jersey 5,341,548.06 3.91 30 3.11
New Mexico 474,348.96 0.35 6 0.62
New York 3,574,926.99 2.62 22 2.28
North Carolina 1,835,166.17 1.34 21 2.18
North Dakota 53,889.60 0.04 1 0.10
Ohio 5,196,294.49 3.80 59 6.12
Oklahoma 1,096,675.91 0.80 8 0.83
Oregon 2,389,820.98 1.75 23 2.39
Pennsylvania 1,552,885.40 1.14 20 2.07
Rhode Island 324,000.00 0.24 1 0.10
South Carolina 736,289.35 0.54 6 0.62
South Dakota 68,400.00 0.05 1 0.10
Tennessee 3,073,155.14 2.25 21 2.18
Texas 2,451,193.44 1.79 24 2.49
Utah 1,090,339.52 0.80 8 0.83
Virginia 2,076,745.90 1.52 13 1.35
Washington 6,662,603.44 4.88 41 4.25
West Virginia 42,250.00 0.03 1 0.10
Wisconsin 2,564,492.55 1.88 24 2.49
FIRST ADJ FREQ:
6 7,616,610.17 5.57 37 3.84
24 104,924,451.38 76.78 744 77.18
36 24,117,910.95 17.65 183 18.98
PROPERTY TYPE:
Single Family 118,256,322.63 86.53 839 87.03
PUD 9,033,152.41 6.61 48 4.98
Condo Low-Rise 5,200,044.59 3.81 39 4.05
2-4 Units 3,221,883.12 2.36 25 2.59
Manufactured Housing 947,569.75 0.69 13 1.35
OCCUPANCY:
Primary 131,802,778.42 96.45 895 92.84
Non-owner 3,778,703.01 2.77 59 6.12
Second Home 1,077,491.07 0.79 10 1.04
REMANING TERM:
180 - 180 67,700.00 0.05 2 0.21
301 - 360 136,591,272.50 99.95 962 99.79
LOAN PURPOSE:
Cash Out Refinance 74,359,438.40 54.41 517 53.63
Purchase 40,310,188.70 29.50 283 29.36
Rate/Term Refinance 21,989,345.40 16.09 164 17.01
RATE CHANGE DATE For 2/28 and 3/27 Loans:
05/01/01 621,893.96 0.48 3 0.32
06/01/01 534,233.42 0.41 5 0.54
07/01/01 213,949.10 0.17 2 0.22
08/01/01 1,516,257.77 1.18 10 1.08
09/01/01 5,881,938.82 4.56 46 4.96
10/01/01 18,462,778.14 14.31 96 10.36
11/01/01 34,390,406.17 26.65 203 21.90
12/01/01 43,302,994.00 33.56 379 40.88
04/01/02 76,456.52 0.06 1 0.11
06/01/02 42,701.18 0.03 1 0.11
07/01/02 1,325,771.78 1.03 9 0.97
08/01/02 89,869.61 0.07 1 0.11
09/01/02 3,980,174.64 3.08 18 1.94
10/01/02 4,558,446.22 3.53 25 2.70
11/01/02 6,542,681.00 5.07 56 6.04
12/01/02 7,501,810.00 5.81 72 7.77
RATE CHANGE DATE For Non-2/28 and 3/27 Loans:
03/01/00 665,191.18 8.73 3 8.11
04/01/00 2,816,567.99 36.98 10 27.03
05/01/00 1,509,401.00 19.82 6 16.22
06/01/00 2,625,450.00 34.47 18 48.65
</TABLE>
<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
---------------------------------
David Walker
Vice President
Dated: November 30, 1999
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