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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): May 17, 1999
CWABS, INC., (as depositor under the Pooling and
Servicing Agreement, dated as of May 1, 1999, providing for
the issuance of the CWABS, INC., Asset-Backed Certificates,
Series 1999-2).
CWABS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-60823 95-4596514
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
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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 Computational Materials
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 1999-2.
In connection with the offering of the Asset-Backed Certificates, Series
1999-2, Lehman Brothers Inc. ("Lehman Brothers"), as underwriter of the
Offered Certificates, has prepared certain materials (the "Lehman Brothers
Computational Materials") for distribution to their potential investors.
Similarly, Countrywide Securities Corporation ("CSC"), as underwriter of the
Offered Certificates, has prepared certain materials (the "CSC Computational
Materials") for distribution to their potential investors. Although the
Company provided Lehman Brothers 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 Lehman Brothers
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 Lehman Brothers 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 May 17, 1999.
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* 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 May 21, 1999, of CWABS, Inc., relating to
its Asset-Backed Certificates, Series 1999-2.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Lehman Brothers Computational Materials filed on Form
SE dated May 17, 1999.
99.2 CSC Computational Materials filed on Form SE dated
May 17, 1999.
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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: May 19, 1999
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Exhibit Index
Exhibit Page
99.1 Lehman Brothers Incorporated Computational Materials filed
on Form dated May 17, 1999.
99.2 Countrywide Securities Corporation Computational Materials
filed on Form SE dated May 17, 1999.
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BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
May 19, 1999
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWABS, Inc.
Asset-Backed Certificates, Series 1999-2
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 Computational Materials in connection with the
above-referenced transaction.
Pursuant to a continuing hardship exemption letter dated November 6,
1996, as provided in Rule 202 of Regulation S-T, and pursuant to Rule 311(i)
of Regulation S-T, Exhibits 99.1 and 99.2 will be filed on Wednesday, February
24, 1999 in paper on Form SE.
Very truly yours,
/s/ Alastair Onglingswan
Alastair Onglingswan
Enclosure
