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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 31, 1999
CWABS, INC. (as depositor under the Pooling and
Servicing Agreement, dated as of August 30, 1999,
providing for the issuance of the Countrywide Home Equity
Loan Trust 1999-3, Revolving Home Equity Loan Asset Backed
Certificates, Series 1999-3).
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 -------------
Executive Offices) (Zip Code)
Registrant's telephone number, including area code (818) 225-3240
- ------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events.
- ---- ------------
Description of the Final Mortgage Loan Statistics *
- -------------------------------------------------
On August 31, 1999, CWABS, Inc. (the "Company") entered into a Pooling and
Servicing Agreement dated as of August 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 1999-3 (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 August 18, 1999, of CWABS, Inc.,
relating to its Asset-Backed Certificates, Series 1999-3.
<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.
CWABS, INC. ASSET-BACKED CERTIFICATES, SERIES 1999-3
FINAL PROSPECTUS TABLES - FIXED RATE LOANS SUBGROUP 1F
MORTGAGE RATES FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
RANGE OF NUMBER OF AGGREGATE PRINCIPAL BALANCE
MORTGAGE RATES (%) MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.001 - 6.500 2 212,315.47 0.21
6.501 - 7.000 9 894,855.46 0.89
7.001 - 7.500 29 3,862,421.42 3.86
7.501 - 8.000 68 7,694,760.92 7.69
8.001 - 8.500 107 12,153,500.00 12.15
8.501 - 9.000 163 16,060,956.56 16.06
9.001 - 9.500 119 9,477,855.33 9.48
9.501 - 10.000 169 13,635,676.22 13.64
10.001 - 10.500 116 7,815,896.08 7.82
10.501 - 11.000 118 7,989,119.35 7.99
11.001 - 11.500 84 5,332,247.31 5.33
11.501 - 12.000 87 4,930,399.16 4.93
12.001 - 12.500 59 3,398,573.72 3.40
12.501 - 13.000 43 2,075,799.59 2.08
13.001 - 13.500 29 1,689,620.16 1.69
13.501 - 14.000 23 1,121,743.28 1.12
14.001 - 14.500 12 510,800.67 0.51
14.501 - 15.000 14 585,574.76 0.59
15.001 - 15.500 5 196,035.22 0.20
15.501 - 16.000 4 166,712.48 0.17
16.001 - 16.500 1 50,347.36 0.05
16.501 - 17.000 2 46,958.00 0.05
18.501 - 19.000 1 17,000.00 0.02
19.501 - 20.000 1 31,500.00 0.03
20.001 - 20.500 1 49,698.09 0.05
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
COMBINED LOAN TO VALUE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
RANGE OF COMBINED NUMBER OF AGGREGATE PRINCIPAL BALANCE
LOAN-TO-VALUE RATIOS MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10.00 2 98,457.27 0.10
10.01 - 20.00 5 169,566.39 0.17
20.01 - 30.00 25 1,294,719.54 1.29
30.01 - 40.00 32 2,009,923.00 2.01
40.01 - 50.00 60 3,640,245.97 3.64
50.01 - 60.00 134 9,152,417.46 9.15
60.01 - 70.00 280 21,246,948.85 21.25
70.01 - 80.00 460 39,479,164.62 39.48
80.01 - 90.00 258 21,909,266.07 21.91
90.01 - 100.00 10 999,657.44 1.00
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
MORTGAGE LOAN PRINCIPAL BALANCE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
RANGE OF MORTGAGE LOAN PRINCIPAL NUMBER OF AGGREGATE PRINCIPAL BALANCE
BALANCES ($) MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10,000.00 1 9,985.22 0.01
10,000.01 - 20,000.00 15 267,001.57 0.27
20,000.01 - 30,000.00 100 2,797,740.56 2.80
30,000.01 - 40,000.00 146 5,227,379.78 5.23
40,000.01 - 50,000.00 168 7,547,890.94 7.55
50,000.01 - 60,000.00 154 8,512,367.27 8.51
60,000.01 - 70,000.00 118 7,684,926.15 7.68
70,000.01 - 80,000.00 94 7,024,483.79 7.02
80,000.01 - 90,000.00 86 7,307,433.04 7.31
90,000.01 - 100,000.00 76 7,256,348.62 7.26
100,000.01 - 125,000.00 113 12,583,423.28 12.58
125,000.01 - 150,000.00 58 7,855,674.66 7.86
150,000.01 - 175,000.00 52 8,421,877.25 8.42
175,000.01 - 200,000.00 37 6,973,148.35 6.97
200,000.01 - 225,000.00 32 6,707,256.09 6.71
225,000.01 - 250,000.00 14 3,271,612.57 3.27
250,000.01 - 275,000.00 1 259,582.93 0.26
275,000.01 - 300,000.00 1 292,234.54 0.29
- --------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES
FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
STATE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AR 1 25,941.47 0.03
AZ 18 1,145,547.15 1.15
CA 182 21,278,929.18 21.28
CO 16 1,368,374.37 1.37
CT 8 650,966.59 0.65
DC 5 326,338.80 0.33
DE 1 90,343.81 0.09
FL 117 9,214,782.36 9.21
GA 50 3,867,700.76 3.87
HI 18 2,236,279.04 2.24
IA 5 312,950.20 0.31
ID 6 583,614.60 0.58
IL 46 3,064,659.66 3.06
IN 48 3,020,744.22 3.02
KY 30 1,600,862.29 1.60
LA 26 1,704,334.85 1.70
MA 16 1,401,268.22 1.40
MD 11 1,038,044.85 1.04
ME 2 140,939.69 0.14
MI 182 11,605,750.99 11.61
MN 7 402,828.76 0.40
MO 11 723,935.31 0.72
MS 8 419,965.65 0.42
MT 7 456,385.98 0.46
NC 15 994,725.56 0.99
ND 2 213,941.15 0.21
NH 4 345,789.91 0.35
NJ 22 2,135,043.53 2.14
NM 8 758,369.51 0.76
NV 9 895,194.99 0.90
NY 30 3,181,029.78 3.18
OH 70 4,656,638.33 4.66
OK 9 633,763.30 0.63
OR 10 916,594.14 0.92
PA 19 1,216,962.08 1.22
RI 2 170,900.00 0.17
SC 7 363,884.82 0.36
SD 1 56,652.24 0.06
TN 49 3,396,396.52 3.40
TX 103 5,732,755.91 5.73
UT 16 1,638,177.79 1.64
VA 20 1,608,700.46 1.61
VT 1 41,000.10 0.04
WA 33 3,347,343.26 3.35
WI 12 889,037.88 0.89
WV 3 125,976.55 0.13
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
TYPE OF MORTGAGED PROPERTIES FOR THE MORTGAGE
LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
PROPERTY TYPE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 1,104 87,224,222.43 87.22
2-4 Family 42 3,788,417.88 3.79
PUD 39 3,200,152.65 3.20
Condo Low Rise 37 3,096,755.61 3.10
Manufactured Housing 42 2,579,002.14 2.58
Condo High Rise 2 111,815.90 0.11
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
OCCUPANCY TYPE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
OCCUPANCY TYPE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary Residence 1,199 96,139,867.61 96.14
Investment Property 60 3,408,861.13 3.41
Second Home 7 451,637.87 0.45
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
REMAINING MONTHS TO STATED MATURITY
FOR THE MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE PERCENT
REMAINING TERM (MONTHS) MORTGAGE LOANS OUTSTANDING OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
109 - 120 14 655,198.76 0.66
169 - 180 596 37,753,586.01 37.75
229 - 240 5 216,956.83 0.22
337 - 348 1 64,683.98 0.06
349 - 360 650 61,309,941.03 61.31
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
LOAN PURPOSE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 1F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
LOAN PURPOSE SUBGROUP 1F
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
LOAN PURPOSE OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash Out 908 70,149,011.51 70.15
Rate/Term Refinance 230 18,104,936.31 18.10
Purchase 128 11,746,418.79 11.75
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,266 $100,000,366.61 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
FINAL PROSPECTUS TABLES - FIXED RATE LOANS SUBGROUP 2F
MORTGAGE RATES FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
MORTGAGE RATES (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.501 - 6.000 1 215,488.00 0.15
6.001 - 6.500 1 149,405.84 0.10
6.501 - 7.000 13 2,757,287.99 1.90
7.001 - 7.500 22 4,123,313.30 2.84
7.501 - 8.000 86 14,051,754.18 9.69
8.001 - 8.500 136 18,498,585.24 12.76
8.501 - 9.000 180 20,495,089.40 14.13
9.001 - 9.500 157 13,242,193.57 9.13
9.501 - 10.000 217 21,555,056.80 14.87
10.001 - 10.500 162 12,311,791.56 8.49
10.501 - 11.000 147 9,584,337.48 6.61
11.001 - 11.500 131 8,450,935.95 5.83
11.501 - 12.000 150 6,086,402.72 4.20
12.001 - 12.500 97 4,042,400.18 2.79
12.501 - 13.000 82 2,674,183.86 1.84
13.001 - 13.500 73 2,434,497.95 1.68
13.501 - 14.000 65 2,258,029.32 1.56
14.001 - 14.500 31 972,043.15 0.67
14.501 - 15.000 13 298,240.58 0.21
15.001 - 15.500 14 298,771.46 0.21
15.501 - 16.000 12 290,078.74 0.20
16.001 - 16.500 5 154,776.41 0.11
18.001 - 18.500 1 56,000.00 0.04
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
COMBINED LOAN-TO-VALUE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
COMBINED LOAN-TO-VALUE RATIO (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10.00 2 24,915.08 0.02
10.01 - 20.00 4 80,016.15 0.06
20.01 - 30.00 37 1,251,034.27 0.86
30.01 - 40.00 65 2,514,803.14 1.73
40.01 - 50.00 117 5,527,396.31 3.81
50.01 - 60.00 162 11,641,089.67 8.03
60.01 - 70.00 377 30,804,687.99 21.24
70.01 - 80.00 603 56,024,162.72 38.64
80.01 - 90.00 410 35,033,587.65 24.16
90.01 - 100.00 19 2,098,970.70 1.45
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
MORTGAGE LOAN PRINCIPAL BALANCE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOAN PRINCIPAL MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
BALANCES ($) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10,000.00 5 42,912.48 0.03
10,000.01 - 20,000.00 236 3,894,551.29 2.69
20,000.01 - 30,000.00 228 5,746,070.10 3.96
30,000.01 - 40,000.00 175 6,224,029.20 4.29
40,000.01 - 50,000.00 164 7,398,317.10 5.10
50,000.01 - 60,000.00 173 9,570,482.11 6.60
60,000.01 - 70,000.00 149 9,726,033.32 6.71
70,000.01 - 80,000.00 90 6,766,943.16 4.67
80,000.01 - 90,000.00 80 6,799,105.56 4.69
90,000.01 - 100,000.00 82 7,837,014.62 5.40
100,000.01 - 125,000.00 123 13,742,350.85 9.48
125,000.01 - 150,000.00 66 8,964,349.65 6.18
150,000.01 - 175,000.00 54 8,716,098.44 6.01
175,000.01 - 200,000.00 34 6,249,377.59 4.31
200,000.01 - 225,000.00 17 3,661,118.59 2.52
225,000.01 - 250,000.00 17 4,036,734.58 2.78
250,000.01 - 275,000.00 19 4,973,615.82 3.43
275,000.01 - 300,000.00 24 6,860,451.64 4.73
300,000.01 - 350,000.00 23 7,488,769.32 5.16
350,000.01 - 400,000.00 18 6,702,933.34 4.62
400,000.01 - 450,000.00 9 3,844,941.13 2.65
450,000.01 - 500,000.00 4 1,900,895.65 1.31
500,000.01 - 550,000.00 1 506,327.19 0.35
550,000.01 - 600,000.00 2 1,162,000.00 0.80
600,000.01 - 650,000.00 1 630,981.12 0.44
650,000.01 - 700,000.00 1 674,259.83 0.47
850,000.01 - 900,000.00 1 880,000.00 0.61
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES
FOR THE MORTGAGE LOANS IN THE LOAN SUBGROUP 2F
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
STATES MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AK 1 151,239.88 0.10
AR 6 269,679.55 0.19
AZ 39 2,496,617.51 1.72
CA 276 36,599,566.60 25.24
CO 20 1,637,485.76 1.13
CT 10 670,793.07 0.46
DC 4 331,753.08 0.23
DE 1 37,600.00 0.03
FL 173 11,234,912.54 7.75
GA 60 4,043,273.08 2.79
HI 24 4,466,396.05 3.08
IA 5 152,283.12 0.11
ID 12 1,114,822.85 0.77
IL 46 2,648,527.22 1.83
IN 71 3,108,245.42 2.14
KS 4 256,723.23 0.18
KY 39 2,344,321.72 1.62
LA 42 2,601,514.52 1.79
MA 25 2,276,599.79 1.57
MD 15 1,229,847.51 0.85
ME 2 185,434.27 0.13
MI 248 15,782,303.76 10.88
MN 8 1,004,916.54 0.69
MO 12 517,368.26 0.36
MS 8 613,164.94 0.42
MT 9 1,195,654.22 0.82
NC 18 2,061,240.59 1.42
ND 2 32,124.74 0.02
NE 5 224,185.71 0.15
NH 4 379,294.78 0.26
NJ 25 2,783,461.50 1.92
NM 3 116,614.30 0.08
NV 26 2,638,880.40 1.82
NY 36 3,968,260.64 2.74
OH 78 4,735,374.94 3.27
OK 21 1,052,587.09 0.73
OR 31 2,901,721.97 2.00
PA 46 2,260,409.87 1.56
RI 1 96,744.30 0.07
SC 9 1,084,390.73 0.75
SD 8 537,934.04 0.37
TN 67 5,948,961.26 4.10
TX 143 7,601,482.06 5.24
UT 11 939,308.33 0.65
VA 32 3,583,468.55 2.47
VT 1 44,274.33 0.03
WA 48 3,613,031.68 2.49
WI 16 1,200,688.33 0.83
WV 2 71,179.05 0.05
WY 3 154,000.00 0.11
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
TYPE OF MORTGAGE PROPERTIES FOR THE MORTGAGE
LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
PROPERTY TYPE OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 1,579 127,810,719.78 88.14
PUD 70 7,649,280.54 5.28
2-4 Family 50 3,418,838.45 2.36
Condo Low Rise 49 3,329,226.74 2.30
Manufactured Housing 47 2,770,154.35 1.91
Condo High Rise 1 22,443.82 0.02
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
OCCUPANCY TYPE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
OCCUPANCY TYPE OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary Residence 1,681 139,184,780.43 95.99
Investment Property 106 5,083,984.49 3.51
Second Home 9 731,898.76 0.50
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
REMAINING MONTHS TO STATED MATURITY
FOR THE MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
REMAINING TERM (MONTHS) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
109 - 120 74 1,461,448.29 1.01
169 - 180 931 53,654,437.62 37.00
229 - 240 4 183,404.29 0.13
289 - 300 1 44,174.30 0.03
337 - 348 1 158,728.26 0.11
349 - 360 785 89,498,470.92 61.72
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
LOAN PURPOSE FOR THE
MORTGAGE LOANS IN THE
LOAN SUBGROUP 2F
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
LOAN PURPOSE OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash Out 1,122 96,029,702.00 66.23
Rate/Term Refinance 477 28,691,593.82 19.79
Purchase 197 20,279,367.86 13.99
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 1,796 $145,000,663.68 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
MORTGAGE RATES FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
MORTGAGE RATES (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.001 - 6.000 12 1,427,858.48 0.24
6.001 - 7.000 135 18,741,100.90 3.10
7.001 - 8.000 657 89,945,675.81 14.87
8.001 - 9.000 1,492 193,662,524.47 32.01
9.001 - 10.000 1,540 171,154,979.03 28.29
10.001 - 11.000 885 85,526,406.22 14.14
11.001 - 12.000 368 30,731,867.84 5.08
12.001 - 13.000 128 9,836,440.97 1.63
13.001 - 14.000 43 3,273,889.57 0.54
14.001 - 15.000 10 563,430.81 0.09
15.001 - 16.000 2 79,600.00 0.01
16.001 - 17.000 1 56,600.00 0.01
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
GROSS MARGIN FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
GROSS MARGINS (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
4.001 - 5.000 218 24,948,306.84 4.12
5.001 - 6.000 1,929 236,235,468.35 39.05
6.001 - 7.000 2,275 254,102,404.18 42.00
7.001 - 8.000 778 82,691,299.19 13.67
8.001 - 9.000 70 6,754,901.98 1.12
9.001 - 10.000 3 267,993.56 0.04
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MAXIMUM RATES FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
MAXIMUM RATES (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
12.001 - 13.000 12 1,427,858.48 0.24
13.001 - 14.000 147 20,906,077.55 3.46
14.001 - 15.000 758 107,774,894.11 17.81
15.001 - 16.000 1,459 185,830,531.24 30.72
16.001 - 17.000 1,492 162,358,111.70 26.84
17.001 - 18.000 858 82,746,379.16 13.68
18.001 - 19.000 364 30,257,206.66 5.00
19.001 - 20.000 127 9,725,794.82 1.61
20.001 - 21.000 43 3,273,889.57 0.54
21.001 - 22.000 10 563,430.81 0.09
22.001 - 23.000 2 79,600.00 0.01
23.001 - 24.000 1 56,600.00 0.01
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MORTGAGE LOAN PRINCIPAL BALANCE FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOAN PRINCIPAL MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
BALANCES ($) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10,000.00 1 8,000.00 0.00
10,000.01 - 20,000.00 52 918,355.36 0.15
20,000.01 - 30,000.00 157 4,041,402.15 0.67
30,000.01 - 40,000.00 281 10,044,637.36 1.66
40,000.01 - 50,000.00 375 17,152,621.85 2.84
50,000.01 - 60,000.00 457 25,313,081.65 4.18
60,000.01 - 70,000.00 410 26,839,530.60 4.44
70,000.01 - 80,000.00 396 29,723,743.47 4.91
80,000.01 - 90,000.00 439 37,390,134.22 6.18
90,000.01 - 100,000.00 351 33,486,718.08 5.53
100,000.01 - 125,000.00 687 77,177,179.38 12.76
125,000.01 - 150,000.00 446 61,143,091.34 10.11
150,000.01 - 175,000.00 343 55,714,054.03 9.21
175,000.01 - 200,000.00 247 46,270,722.24 7.65
200,000.01 - 225,000.00 157 33,219,504.18 5.49
225,000.01 - 250,000.00 117 27,752,333.16 4.59
250,000.01 - 275,000.00 99 25,886,897.95 4.28
275,000.01 - 300,000.00 74 21,204,142.08 3.50
300,000.01 - 350,000.00 93 30,047,317.92 4.97
350,000.01 - 400,000.00 40 15,014,575.20 2.48
400,000.01 - 450,000.00 18 7,696,924.95 1.27
450,000.01 - 500,000.00 15 7,162,251.15 1.18
500,000.01 - 550,000.00 2 1,050,778.02 0.17
550,000.01 - 600,000.00 6 3,456,290.73 0.57
600,000.01 - 650,000.00 3 1,889,500.00 0.31
650,000.01 - 700,000.00 2 1,340,000.00 0.22
700,000.01 - 750,000.00 3 2,204,512.50 0.36
850,000.01 - 900,000.00 1 874,264.89 0.14
950,000.01 - 1,000,000.00 1 977,809.64 0.16
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
MINIMUM RATES FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
MINIMUM RATES (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
5.001 - 6.000 12 1,427,858.48 0.24
6.001 - 7.000 135 18,741,100.90 3.10
7.001 - 8.000 657 89,945,675.81 14.87
8.001 - 9.000 1,492 193,662,524.47 32.01
9.001 - 10.000 1,540 171,154,979.03 28.29
10.001 - 11.000 885 85,526,406.22 14.14
11.001 - 12.000 368 30,731,867.84 5.08
12.001 - 13.000 128 9,836,440.97 1.63
13.001 - 14.000 43 3,273,889.57 0.54
14.001 - 15.000 10 563,430.81 0.09
15.001 - 16.000 2 79,600.00 0.01
16.001 - 17.000 1 56,600.00 0.01
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
LOAN-TO-VALUE RATIO FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
RANGE OF MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
LOAN-TO-VALUE RATIO (%) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
0.01 - 10.00 1 41,400.00 0.01
10.01 - 20.00 9 278,895.53 0.05
20.01 - 30.00 29 1,856,978.61 0.31
30.01 - 40.00 61 4,095,941.05 0.68
40.01 - 50.00 154 12,554,170.73 2.08
50.01 - 60.00 327 31,248,056.61 5.16
60.01 - 70.00 1,052 108,270,236.36 17.90
70.01 - 80.00 2,151 269,643,973.45 44.57
80.01 - 90.00 1,355 161,486,080.83 26.69
90.01 - 100.00 134 15,524,640.93 2.57
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES
FOR THE MORTGAGE LOANS IN THE ADJUSTABLE RATE
LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
STATES MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
AK 7 687,229.61 0.11
AL 1 35,000.00 0.01
AR 18 1,260,296.21 0.21
AZ 113 12,278,519.97 2.03
CA 981 176,376,481.08 29.15
CO 143 17,937,546.45 2.96
CT 47 6,005,913.26 0.99
DC 18 2,338,161.83 0.39
DE 5 600,945.54 0.10
FL 304 28,348,353.04 4.69
GA 81 9,690,519.72 1.60
HI 26 4,252,518.28 0.70
IA 20 1,333,243.86 0.22
ID 52 5,027,215.82 0.83
IL 217 23,573,424.00 3.90
IN 199 14,093,345.98 2.33
KS 38 2,334,068.65 0.39
KY 75 6,361,942.27 1.05
LA 61 6,963,257.03 1.15
MA 96 14,049,052.41 2.32
MD 59 7,081,156.37 1.17
ME 5 398,313.26 0.07
MI 485 41,582,989.21 6.87
MN 57 6,055,273.53 1.00
MO 104 8,207,670.59 1.36
MS 25 1,958,684.77 0.32
MT 9 1,318,038.02 0.22
NC 132 13,109,808.61 2.17
ND 4 189,193.70 0.03
NE 5 483,709.51 0.08
NH 19 1,617,125.78 0.27
NJ 105 13,919,149.75 2.30
NM 46 4,238,985.92 0.70
NV 65 7,611,359.47 1.26
NY 73 8,758,540.99 1.45
OH 373 30,085,148.26 4.97
OK 108 7,803,397.83 1.29
OR 93 11,420,429.12 1.89
PA 124 8,939,784.69 1.48
RI 2 244,717.11 0.04
SC 20 2,372,232.64 0.39
SD 4 283,075.00 0.05
TN 141 15,016,739.46 2.48
TX 147 15,626,359.21 2.58
UT 93 12,880,606.44 2.13
VA 77 8,711,904.19 1.44
VT 3 186,439.67 0.03
WA 216 27,056,900.97 4.47
WI 152 11,995,565.11 1.98
WV 16 1,158,573.64 0.19
WY 9 1,141,466.27 0.19
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
INITIAL FIXED RATE PERIOD FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
INITIAL FIXED RATE PERIOD (MONTHS) OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6 87 12,165,747.09 2.01
12 3 712,510.21 0.12
24 3,106 352,004,328.60 58.18
36r 2,077 240,117,788.20 39.69
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
NEXT RATE ADJUSTMENT DATES FOR THE 1/29, 2/28
AND 3/27
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
NEXT ADJUSTMENT DATE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6/1/00 2 523,725.65 0.09
7/1/00 7 823,741.87 0.14
9/1/00 1 78,652.90 0.01
10/1/00 3 160,121.89 0.03
12/1/00 2 175,178.19 0.03
1/1/01 1 179,469.26 0.03
2/1/01 3 345,757.25 0.06
3/1/01 6 743,128.99 0.13
4/1/01 25 3,378,189.21 0.57
5/1/01 55 8,177,520.29 1.38
6/1/01 464 55,994,846.04 9.45
7/1/01 888 103,852,530.97 17.52
8/1/01 976 105,842,663.30 17.85
9/1/01 675 72,413,313.00 12.21
10/1/01 1 28,000.00 0.00
11/1/01 1 206,813.94 0.03
12/1/01 2 140,196.02 0.02
1/1/02 1 82,732.33 0.01
3/1/02 6 639,325.44 0.11
4/1/02 35 4,096,015.20 0.69
5/1/02 24 2,628,030.63 0.44
6/1/02 262 32,018,985.43 5.40
7/1/02 571 70,692,529.90 11.92
8/1/02 692 78,453,706.33 13.23
9/1/02 483 51,159,452.98 8.63
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,186 $592,834,627.01 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
NEXT RATE ADJUSTMENT DATES FOR THE NON 1/29,
2/28 AND 3/27
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF
MORTGAGE LOANS AGGREGATE PRINCIPAL BALANCE
NEXT ADJUSTMENT DATE OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
11/1/99 1 82,574.57 0.68
12/1/99 23 1,922,214.57 15.80
1/1/00 21 2,793,157.95 22.96
2/1/00 21 3,490,550.00 28.69
3/1/00 21 3,877,250.00 31.87
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 87 $12,165,747.09 100.00%
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
TYPE OF MORTGAGED PROPERTIES FOR THE
MORTGAGE LOANS IN THE ADJUSTABLE RATE LOAN
GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
PROPERTY TYPE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Single Family 4,563 519,092,376.36 85.80
PUD 240 38,228,976.50 6.32
Condo Low Rise 219 25,392,126.76 4.20
2-4 Family 113 11,671,137.57 1.93
Manufactured Housing 131 9,692,613.66 1.60
Condo High Rise 7 923,143.25 0.15
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
OCCUPANCY TYPES FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
OCCUPANCY TYPE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Primary Residence 5,000 582,614,995.31 96.30
Investment Property 248 18,985,508.10 3.14
Second Home 25 3,399,870.69 0.56
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
REMAINING MONTHS TO STATED MATURITY FOR THE
MORTGAGE LOANS IN THE ADJUSTABLE RATE LOAN
GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
REMAINING TERM (MONTHS) MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
169 - 180 9 353,866.68 0.06
337 - 348 6 634,957.31 0.10
349 - 360 5,258 604,011,550.11 99.84
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
LOAN PURPOSE FOR THE
MORTGAGE LOANS IN THE
ADJUSTABLE RATE LOAN GROUP
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NUMBER OF AGGREGATE PRINCIPAL BALANCE
LOAN PURPOSE MORTGAGE LOANS OUTSTANDING PERCENT OF LOAN SUBGROUP
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash Out 2,994 334,898,404.16 55.36
Purchase 1,670 196,251,260.65 32.44
Rate/Term Refinance 609 73,850,709.29 12.21
- ---------------------------------------------------------------------------------------------------------------------
TOTAL: 5,273 $605,000,374.10 100.00%
- ---------------------------------------------------------------------------------------------------------------------
</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: September 21, 1999
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
September 22, 1999
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWABS, Inc.
Revolving Home Equity Loan Asset-Backed Certificates,
Series 1999-3
--------------------------------------------------------
Ladies and Gentlemen:
On behalf of CWABS, Inc. (the "Company"), we enclose herewith for
filing, pursuant to the Securities and Exchange Act of 1934, the Company's
Current Report on Form 8-K, Final Mortgage Loan Statistics in connection with
the above-referenced transaction.
Very truly yours,
/s/ Alastair Onglingswan
Alastair Onglingswan
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