- --------------------------------------------------------------------------
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): February 1, 2000
CWABS, INC., (as depositor under the Pooling and Servicing Agreement,
dated as of February 1, 2000, providing for the issuance of the CWABS, INC.,
Asset-Backed Certificates, Series 2000-1).
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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Item 5. Other Events.
Description of Initial Mortgage Loans
On February 1, 2000, CWABS, Inc. (the "Company") entered into a
Pooling and Servicing Agreement dated as of February 1, 2000 (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 2000-1 (the "Certificates").
On February 8, 2000, pursuant to Rule 424(b) under the Securities Act
of 1933, the Company filed a prospectus (the "Prospectus") and prospectus
supplement (the "Prospectus Supplement") with the Securities and Exchange
Commission (the "SEC") relating to the Certificates.
In connection with the offering of the Certificates, the Company
agreed to file a detailed description of the pool of conventional, sub-prime
mortgage loans (the "Initial Mortgage Loans") that comprised the Trust Fund as
of the Closing Date (such pool, the "Initial Mortgage Pool") on Form 8-K with
the SEC within fifteen days after delivery of the Certificates. The following
tables present the detailed description of the Initial Mortgage Loans that
comprised the Initial Mortgage Pool that the Company agreed to file in
connection with the offering of the Certificates. The sum of the columns may
not equal the respective totals due to rounding. The tables describing the
Fixed Rate Mortgage Loans in the Initial Mortgage Pool are annexed hereto as
Exhibit 99.1. The tables describing the Adjustable Rate Mortgage Loans in Loan
Subgroup 1A in the Initial Mortgage Pool are annexed hereto as Exhibit 99.2.
The tables describing the Adjustable Rate Mortgage Loans in Loan Subgroup 2A
in the Initial Mortgage Pool are annexed hereto as Exhibit 99.3.
- -------------
* Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to them in the prospectus and the prospectus
supplement of CWABS, Inc., relating to its Asset-Backed Certificates,
Series 2000-1.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Tables describing the Fixed Rate Mortgage Loans in
the Initial Mortgage Pool
99.2 Tables describing the Adjustable Rate Mortgage Loans
in Loan Subgroup 1A in the Initial Mortgage Pool.
99.3 Tables describing the Adjustable Rate Mortgage Loans
in Loan Subgroup 2A in the Initial Mortgage Pool.
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/ Michael Muir
--------------------------
Michael Muir
Vice President
Dated: March 16, 2000
Exhibit Index
Page
Exhibit
99.1 Tables describing the Fixed Rate Mortgage Loans in the
Initial Mortgage Pool
99.2 Tables describing the Adjustable Rate Mortgage Loans in
Loan Subgroup 1A in the Initial Mortgage Pool.
99.3 Tables describing the Adjustable Rate Mortgage Loans in
Loan Subgroup 2A in the Initial Mortgage Pool.
Exhibit 99.1
Fixed Rate Range of Mortgage Rates
% of
Count Balance Balance
- ----------------------------------------------------------------
6.875 - 7.000 1 $251,000.00 0.10
7.001 - 7.500 10 $5,037,149.08 1.98
7.501 - 8.000 40 $6,723,274.46 2.64
8.001 - 8.500 114 $17,736,104.11 6.98
8.501 - 9.000 205 $24,265,858.74 9.54
9.001 - 9.500 272 $29,263,414.96 11.51
9.501 - 10.000 431 $39,361,928.33 15.48
10.001 - 10.500 403 $31,743,885.45 12.48
10.501 - 11.000 420 $30,128,275.55 11.85
11.001 - 11.500 313 $18,403,185.95 7.24
11.501 - 12.000 285 $16,127,324.14 6.34
12.001 - 12.500 184 $9,679,113.29 3.81
12.501 - 13.000 177 $8,699,838.02 3.42
13.001 - 13.500 145 $5,546,939.70 2.18
13.501 - 14.000 103 $4,104,732.07 1.61
14.001 - 14.500 106 $3,034,325.77 1.19
14.501 - 15.000 45 $1,604,380.33 0.63
15.001 - 15.500 45 $1,055,283.21 0.42
15.501 - 16.000 14 $410,331.95 0.16
16.001 - 16.500 18 $463,316.17 0.18
16.501 - 17.000 11 $250,191.54 0.10
17.001 - 17.500 11 $227,872.34 0.09
17.501 - 18.000 2 $37,201.00 0.01
18.001 - 18.500 1 $23,172.81 0.01
19.001 - 19.500 1 $22,290.00 0.01
20.001 - 20.250 1 $70,700.00 0.03
- ----------------------------------------------------------------
WgtAvg= 10.360 3,358 $254,271,088.97 100.00
Fixed Rate Range of Combined LTV
% of
Count Balance Balance
- ----------------------------------------------------------------
6.73 - 10.00 3 $85,754.33 0.03
10.01 - 15.00 14 $418,377.91 0.16
15.01 - 20.00 20 $588,020.45 0.23
20.01 - 25.00 30 $1,181,582.56 0.46
25.01 - 30.00 53 $1,879,813.01 0.74
30.01 - 35.00 50 $1,800,260.65 0.71
35.01 - 40.00 71 $3,020,412.26 1.19
40.01 - 45.00 61 $2,730,402.64 1.07
45.01 - 50.00 99 $5,301,175.51 2.08
50.01 - 55.00 99 $5,682,283.66 2.23
55.01 - 60.00 180 $11,044,841.78 4.34
60.01 - 65.00 298 $20,662,358.56 8.13
65.01 - 70.00 437 $32,799,684.60 12.90
70.01 - 75.00 527 $44,975,326.62 17.69
75.01 - 80.00 766 $72,391,415.36 28.47
80.01 - 85.00 337 $24,830,560.24 9.77
85.01 - 90.00 282 $22,652,284.10 8.91
90.01 - 95.00 23 $1,840,110.52 0.72
95.01 - 100.00 8 $386,424.21 0.15
- ----------------------------------------------------------------
WgtAvg= 73.10 3,358 $254,271,088.97 100.00
Fixed Rate Range of Principal Balances
% of
Count Balance Balance
- ---------------------------------------------------------------------------
9,129.62 - 25,000.00 547 $10,578,497.40 4.16
25,000.01 - 50,000.00 979 $36,723,318.71 14.44
50,000.01 - 75,000.00 681 $42,383,203.30 16.67
75,000.01 - 100,000.00 427 $37,238,039.72 14.65
100,000.01 - 150,000.00 371 $45,067,850.41 17.72
150,000.01 - 200,000.00 192 $33,165,249.61 13.04
200,000.01 - 250,000.00 72 $16,046,576.07 6.31
250,000.01 - 300,000.00 40 $10,823,087.41 4.26
300,000.01 - 350,000.00 18 $5,765,790.61 2.27
350,000.01 - 400,000.00 15 $5,537,706.98 2.18
400,000.01 - 450,000.00 3 $1,244,130.45 0.49
450,000.01 - 500,000.00 3 $1,398,261.53 0.55
500,000.01 - 550,000.00 4 $2,107,749.96 0.83
550,000.01 - 600,000.00 2 $1,178,290.49 0.46
850,000.01 - 900,000.00 1 $898,591.58 0.35
900,000.01 - 950,000.00 1 $938,174.85 0.37
1,000,000.01 - 1,977,278.39 2 $3,176,569.89 1.25
- ---------------------------------------------------------------------------
WgtAvg= 154,727.41 3,358 $254,271,088.97 100.00
Fixed Rate State
% of
Count Balance Balance
- ----------------------------------------------------------------
Alaska 1 $77,290.79 0.03
Arizona 74 $5,315,281.78 2.09
Arkansas 17 $1,081,174.42 0.43
California 543 $59,972,481.97 23.59
Colorado 56 $4,137,474.93 1.63
Connecticut 31 $2,498,415.03 0.98
Delaware 2 $77,637.72 0.03
District of Columbia 12 $695,827.02 0.27
Florida 314 $19,691,509.11 7.74
Georgia 77 $5,576,403.38 2.19
Hawaii 81 $15,725,047.22 6.18
Idaho 43 $3,267,244.96 1.28
Illinois 63 $3,542,302.08 1.39
Indiana 102 $4,781,825.54 1.88
Iowa 13 $519,655.91 0.20
Kansas 6 $185,411.58 0.07
Kentucky 55 $2,649,714.76 1.04
Louisiana 128 $8,654,903.98 3.40
Maine 15 $954,815.21 0.38
Maryland 40 $3,030,936.16 1.19
Massachusetts 41 $3,874,592.09 1.52
Michigan 272 $15,338,444.45 6.03
Minnesota 21 $1,295,091.72 0.51
Mississippi 48 $2,515,611.18 0.99
Missouri 65 $3,319,597.67 1.31
Montana 8 $347,156.69 0.14
Nebraska 10 $376,520.22 0.15
Nevada 40 $3,077,198.77 1.21
New Hampshire 14 $722,785.15 0.28
New Jersey 35 $2,457,781.65 0.97
New Mexico 19 $971,687.62 0.38
New York 59 $5,652,212.60 2.22
North Carolina 26 $1,869,242.61 0.74
North Dakota 6 $414,975.60 0.16
Ohio 189 $10,848,294.24 4.27
Oklahoma 49 $2,048,926.39 0.81
Oregon 52 $5,238,039.54 2.06
Pennsylvania 112 $6,589,109.96 2.59
Rhode Island 1 $15,722.70 0.01
South Carolina 25 $1,746,636.79 0.69
South Dakota 3 $146,673.01 0.06
Tennessee 143 $10,253,981.72 4.03
Texas 234 $12,378,444.13 4.87
Utah 24 $1,768,660.45 0.70
Vermont 1 $101,552.20 0.04
Virginia 62 $5,505,103.88 2.17
Washington 71 $9,941,216.79 3.91
West Virginia 20 $697,780.77 0.27
Wisconsin 31 $2,020,638.72 0.79
Wyoming 4 $302,056.11 0.12
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3,358 $254,271,088.97 100.00
Fixed Rate Property Type
% of
Count Balance Balance
- -------------------------------------------------------------------
2-4Units 91 $8,605,173.64 3.38
5+ Units 3 $3,419,226.40 1.34
Hi Condo 6 $667,866.95 0.26
Lo Condo 131 $9,445,884.27 3.71
Manufact 81 $4,502,022.92 1.77
PUD 129 $12,671,267.62 4.98
SinglFam 2,917 $214,959,647.17 84.54
- -------------------------------------------------------------------
WgtAvg= 3,358 $254,271,088.97 100.00
Fixed Rate Occupancy Type
% of
Count Balance Balance
- -------------------------------------------------------------------
2nd/Vaca 16 $964,315.33 0.38
Non-owne 262 $18,979,894.94 7.46
Owner Oc 3,080 $234,326,878.70 92.16
- -------------------------------------------------------------------
WgtAvg= 3,358 $254,271,088.97 100.00
Fixed Rate Scheduled Remaining Term
% of
Count Balance Balance
- -------------------------------------------------------------
104 - 120 104 $5,487,429.45 2.16
121 - 180 1,331 $68,155,324.39 26.80
181 - 240 39 $1,937,536.76 0.76
241 - 300 1 $43,971.83 0.02
301 - 360 1,883 $178,646,826.54 70.26
- ------------------------------------------------------------
WgtAvg= 304 3,358 $254,271,088.97 100.00
Fixed Rate Loan Purpose
% of
Count Balance Balance
- ---------------------------------------------------------------------
Cashout Re 2,206 $173,198,132.23 68.12
Purchase 468 $40,349,431.12 15.87
Rate/Term 684 $40,723,525.62 16.02
- ---------------------------------------------------------------------
WgtAvg= 3,358 $254,271,088.97 100.00
Fixed Rate Lien
% of
Count Balance Balance
- ----------------------------------------------------------
1 2,963 $242,734,704.07 95.46
2 395 $11,536,384.90 4.54
- ----------------------------------------------------------
WgtAvg= 3,358 $254,271,088.97 100.00
Exhibit 99.2
ARMs Range of Mortgage Rates
% of
Count Balance Balance
- ----------------------------------------------------------------
6.250 - 6.500 1 $600,000.00 0.36
6.501 - 7.000 5 $1,690,986.60 1.01
7.001 - 7.500 10 $3,003,212.40 1.79
7.501 - 8.000 26 $8,118,431.17 4.85
8.001 - 8.500 65 $18,557,063.45 11.09
8.501 - 9.000 108 $33,546,997.89 20.05
9.001 - 9.500 115 $32,841,185.89 19.63
9.501 - 10.000 116 $30,818,889.29 18.42
10.001 - 10.500 53 $13,341,257.07 7.97
10.501 - 11.000 38 $7,061,842.03 4.22
11.001 - 11.500 19 $3,904,232.55 2.33
11.501 - 12.000 17 $3,114,379.85 1.86
12.001 - 12.500 11 $2,365,037.88 1.41
12.501 - 13.000 21 $1,560,050.74 0.93
13.001 - 13.500 44 $2,787,149.40 1.67
13.501 - 14.000 27 $1,324,623.47 0.79
14.001 - 14.500 16 $858,424.82 0.51
14.501 - 15.000 10 $846,027.78 0.51
15.001 - 15.500 7 $407,885.30 0.24
15.501 - 16.000 5 $227,775.51 0.14
16.001 - 16.500 3 $154,557.61 0.09
16.501 - 17.000 3 $150,330.45 0.09
17.501 - 17.750 1 $43,815.00 0.03
- ----------------------------------------------------------------
WgtAvg= 9.555 721 $167,324,156.15 100.00
ARMs Range of Gross Margins
% of
Count Balance Balance
- ----------------------------------------------------------------
4.110 - 5.000 31 $9,678,743.91 5.78
5.001 - 6.000 212 $62,800,813.89 37.53
6.001 - 7.000 310 $69,439,210.21 41.50
7.001 - 8.000 140 $22,684,631.61 13.56
8.001 - 9.000 16 $1,845,549.79 1.10
9.001 - 10.000 10 $814,826.03 0.49
10.001 - 11.050 2 $60,380.71 0.04
- ----------------------------------------------------------------
WgtAvg= 6.271 721 $167,324,156.15 100.00
ARMs Range of Maximum Rates
% of
Count Balance Balance
- ----------------------------------------------------------------
13.250 - 14.000 7 $2,688,606.62 1.61
14.001 - 15.000 60 $18,934,806.37 11.32
15.001 - 16.000 171 $50,969,534.61 30.46
16.001 - 17.000 218 $58,686,202.17 35.07
17.001 - 18.000 82 $18,386,108.73 10.99
18.001 - 19.000 36 $7,186,651.85 4.30
19.001 - 20.000 35 $3,847,596.61 2.30
20.001 - 21.000 67 $3,935,832.72 2.35
21.001 - 22.000 26 $1,704,452.60 1.02
22.001 - 23.000 12 $635,660.81 0.38
23.001 - 24.000 6 $304,888.06 0.18
24.001 - 24.750 1 $43,815.00 0.03
- ----------------------------------------------------------------
WgtAvg= 16.446 721 $167,324,156.15 100.00
ARMs Range of Principal Balances
% of
Count Balance Balance
- ---------------------------------------------------------------------------
10,500.00 - 25,000.00 23 $458,296.83 0.27
25,000.01 - 50,000.00 95 $3,589,051.47 2.14
50,000.01 - 75,000.00 91 $5,590,114.00 3.34
75,000.01 - 100,000.00 35 $3,019,906.33 1.80
100,000.01 - 150,000.00 34 $4,167,089.22 2.49
150,000.01 - 200,000.00 10 $1,708,739.96 1.02
200,000.01 - 250,000.00 3 $640,142.64 0.38
250,000.01 - 300,000.00 187 $51,420,238.74 30.73
300,000.01 - 350,000.00 103 $33,680,747.93 20.13
350,000.01 - 400,000.00 48 $18,198,218.76 10.88
400,000.01 - 450,000.00 42 $18,030,295.35 10.78
450,000.01 - 500,000.00 28 $13,351,545.64 7.98
500,000.01 - 550,000.00 6 $3,064,101.95 1.83
550,000.01 - 600,000.00 7 $4,074,791.40 2.44
600,000.01 - 650,000.00 3 $1,934,540.97 1.16
650,000.01 - 700,000.00 5 $3,346,334.96 2.00
1,000,000.01 - 1,050,000.00 1 $1,050,000.00 0.63
- ---------------------------------------------------------------------------
WgtAvg= 721 $167,324,156.15 100.00
ARMs Range of Minimum Interest Rates
% of
Count Balance Balance
- -----------------------------------------------------------------
6.250 - 7.000 6 $2,290,986.60 1.37
7.001 - 8.000 36 $11,121,643.57 6.65
8.001 - 9.000 173 $52,104,061.34 31.14
9.001 - 10.000 231 $63,660,075.18 38.05
10.001 - 11.000 91 $20,403,099.10 12.19
11.001 - 12.000 36 $7,018,612.40 4.19
12.001 - 13.000 32 $3,925,088.62 2.35
13.001 - 14.000 71 $4,111,772.87 2.46
14.001 - 15.000 26 $1,704,452.60 1.02
15.001 - 16.000 12 $635,660.81 0.38
16.001 - 17.000 6 $304,888.06 0.18
17.001 - 17.750 1 $43,815.00 0.03
- ----------------------------------------------------------------
WgtAvg= 9.556 721 $167,324,156.15 100.00
ARMs Range of Combined LTV
% of
Count Balance Balance
- --------------------------------------------------------------
5.25 - 10.00 1 $42,000.00 0.03
10.01 - 20.00 1 $34,000.00 0.02
20.01 - 30.00 8 $591,690.05 0.35
30.01 - 40.00 13 $963,338.50 0.58
40.01 - 50.00 15 $1,426,403.53 0.85
50.01 - 60.00 37 $4,415,043.64 2.64
60.01 - 70.00 136 $26,473,903.26 15.82
70.01 - 80.00 315 $84,561,001.47 50.54
80.01 - 90.00 181 $45,114,713.53 26.96
90.01 - 95.00 14 $3,702,062.17 2.21
- --------------------------------------------------------------
WgtAvg= 77.73 721 $167,324,156.15 100.00
ARMs State
% of
Count Balance Balance
- ------------------------------------------------------------------------------
Arizona 20 $4,546,233.37 2.72
Arkansas 2 $710,600.00 0.42
California 284 $89,295,528.18 53.37
Colorado 18 $5,533,260.60 3.31
Connecticut 7 $2,053,933.26 1.23
District of Columbia 2 $590,081.33 0.35
Florida 25 $4,068,663.61 2.43
Georgia 14 $2,704,772.46 1.62
Idaho 6 $1,267,637.51 0.76
Illinois 32 $6,136,925.09 3.67
Indiana 11 $957,742.47 0.57
Iowa 1 $53,625.00 0.03
Kansas 4 $129,864.57 0.08
Kentucky 3 $700,183.20 0.42
Louisiana 16 $2,592,145.12 1.55
Maryland 7 $1,250,170.92 0.75
Massachusetts 6 $1,502,603.77 0.90
Michigan 48 $4,261,013.67 2.55
Minnesota 10 $1,189,579.41 0.71
Mississippi 4 $592,518.40 0.35
Missouri 9 $455,868.04 0.27
Montana 1 $25,200.00 0.02
Nebraska 1 $599,391.63 0.36
Nevada 11 $1,722,856.07 1.03
New Jersey 9 $2,798,917.07 1.67
New Mexico 2 $631,111.17 0.38
New York 16 $5,254,261.74 3.14
North Carolina 12 $2,656,421.63 1.59
Ohio 22 $1,968,011.77 1.18
Oklahoma 11 $468,600.78 0.28
Oregon 12 $3,440,797.40 2.06
Pennsylvania 8 $1,465,564.92 0.88
South Carolina 2 $355,000.00 0.21
Tennessee 20 $4,802,412.39 2.87
Texas 24 $4,515,792.51 2.70
Utah 6 $1,497,706.20 0.90
Vermont 1 $45,500.00 0.03
Virginia 9 $1,449,062.68 0.87
Washington 17 $2,592,775.36 1.55
West Virginia 1 $80,000.00 0.05
Wisconsin 7 $361,822.85 0.22
- ------------------------------------------------------------------------------
WgtAvg= 721 $167,324,156.15 100.00
ARMs Initial Fixed Rate Period
% of
Count Balance Balance
- -----------------------------------------------------------
6 21 $5,807,838.35 3.47
12 2 $579,849.02 0.35
24 562 $129,601,301.86 77.46
36 134 $30,531,954.87 18.25
60 2 $803,212.05 0.48
- -----------------------------------------------------------
WgtAvg= 26 721 $167,324,156.15 100.00
ARMs 2/28 and 3/27 Next Adjustment Date
% of
Count Balance Balance
- -----------------------------------------------------------------------------
10/01/2000 1 $270,719.08 0.16
02/01/2001 1 $437,797.78 0.26
04/01/2001 1 $326,577.02 0.20
05/01/2001 1 $437,724.80 0.26
06/01/2001 2 $430,711.61 0.26
07/01/2001 2 $668,378.07 0.40
08/01/2001 1 $432,361.32 0.26
09/01/2001 10 $3,774,342.23 2.26
10/01/2001 22 $7,065,517.36 4.22
11/01/2001 34 $10,626,599.60 6.35
12/01/2001 101 $26,499,457.06 15.84
01/01/2002 158 $32,504,488.73 19.43
02/01/2002 147 $27,879,176.20 16.66
03/01/2002 82 $18,550,235.41 11.09
05/01/2002 1 $255,124.55 0.15
06/01/2002 3 $316,020.82 0.19
07/01/2002 2 $613,137.28 0.37
08/01/2002 3 $495,554.38 0.30
09/01/2002 9 $1,629,734.44 0.97
10/01/2002 7 $1,038,093.41 0.62
11/01/2002 20 $5,319,454.12 3.18
12/01/2002 26 $5,587,896.81 3.34
01/01/2003 28 $7,239,212.65 4.33
02/01/2003 21 $4,860,232.00 2.90
03/01/2003 13 $2,874,710.00 1.72
11/01/2004 1 $308,436.94 0.18
12/01/2004 1 $494,775.11 0.30
- -----------------------------------------------------------------------------
WgtAvg= 03/02/2002 698 $160,936,468.78 96.18
ARMs Non2/28 Non2/27 Next Adjustment
% of
Count Balance Balance
- -----------------------------------------------------------------------
06/01/2000 5 $884,412.56 0.53
07/01/2000 4 $1,674,318.79 1.00
08/01/2000 10 $2,397,857.00 1.43
09/01/2000 2 $851,250.00 0.51
11/01/2000 1 $289,849.02 0.17
02/01/2001 1 $290,000.00 0.17
- --------------------------------------------------------------------
WgtAvg= 08/01/2000 23 $6,387,687.37 3.82
ARMs Property Type
% of
Count Balance Balance
- -------------------------------------------------------------------
2-4Units 10 $1,389,018.37 0.83
Lo Condo 25 $5,656,952.52 3.38
Manufact 8 $653,968.74 0.39
PUD 70 $21,998,879.90 13.15
SinglFam 608 $137,625,336.62 82.25
- -------------------------------------------------------------------
WgtAvg= 721 $167,324,156.15 100.00
ARMs Occupancy Type
% of
Count Balance Balance
- -------------------------------------------------------------------
2nd/Vaca 3 $677,614.16 0.40
Non-owne 24 $4,599,072.47 2.75
Owner Oc 694 $162,047,469.52 96.85
- -------------------------------------------------------------------
WgtAvg= 721 $167,324,156.15 100.00
ARMs Scheduled Remaining Term
% of
Count Balance Balance
- ------------------------------------------------------------
178 - 180 1 $18,832.51 0.01
343 - 348 2 $708,516.86 0.42
349 - 354 17 $4,278,374.26 2.56
355 - 360 701 $162,318,432.52 97.01
- ------------------------------------------------------------
WgtAvg= 358 721 $167,324,156.15 100.00
ARMs Loan Purpose
% of
Count Balance Balance
- --------------------------------------------------------------------
Purchase 219 $56,701,590.38 33.89
Refi-Cash 378 $83,283,196.07 49.77
Refi-RateT 124 $27,339,369.70 16.34
- --------------------------------------------------------------------
WgtAvg= 721 $167,324,156.15 100.00
Exhibit 99.3
<TABLE>
<CAPTION>
ARMs Range of Mortgage Rates
Count Balance % of
Balance
- -----------------------------------------------------------------------
<S> <C> <C> <C> <C>
4.875 - 5.000 2 $335,633.96 0.05
5.001 - 5.500 1 $174,606.93 0.03
5.501 - 6.000 5 $714,624.81 0.11
6.001 - 6.500 6 $568,825.31 0.09
6.501 - 7.000 27 $3,490,596.78 0.53
7.001 - 7.500 52 $6,455,510.40 0.98
7.501 - 8.000 189 $23,219,347.23 3.53
8.001 - 8.500 446 $56,152,025.49 8.53
8.501 - 9.000 787 $95,435,249.26 14.50
9.001 - 9.500 921 $100,687,549.48 15.29
9.501 - 10.000 1,271 $130,056,337.64 19.76
10.001 - 10.500 908 $84,620,599.94 12.85
10.501 - 11.000 828 $74,192,999.96 11.27
11.001 - 11.500 415 $32,463,153.21 4.93
11.501 - 12.000 310 $23,246,815.27 3.53
12.001 - 12.500 223 $15,455,195.78 2.35
12.501 - 13.000 103 $7,767,915.92 1.18
13.001 - 13.500 16 $1,059,139.13 0.16
13.501 - 14.000 14 $842,899.06 0.13
14.001 - 14.500 14 $656,605.53 0.10
14.501 - 15.000 8 $458,681.10 0.07
15.001 - 15.500 4 $211,173.91 0.03
15.501 - 15.875 1 $41,295.14 0.01
- -------------------------------------------------------------------
WgtAvg= 9.780 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Range of Gross Margins
Count Balance % of
Balance
- ----------------------------------------------------------------
<S> <C> <C> <C> <C>
2.000 - 2.000 1 $39,750.00 0.01
2.001 - 3.000 13 $1,326,040.40 0.20
3.001 - 4.000 5 $531,115.38 0.08
4.001 - 5.000 210 $25,431,856.98 3.86
5.001 - 6.000 1,875 $196,895,569.65 29.91
6.001 - 7.000 3,130 $308,245,430.60 46.82
7.001 - 8.000 1,167 $114,582,568.71 17.41
8.001 - 9.000 125 $9,520,413.70 1.45
9.001 - 10.000 22 $1,310,599.54 0.20
10.001 - 12.750 3 $423,436.28 0.06
- ---------------------------------------------------------------
WgtAvg= 6.417 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Range of Maximum Rates
Count Balance % of
Balance
- -----------------------------------------------------------------
<S> <C> <C> <C> <C>
11.625 - 12.000 3 $407,548.64 0.06
12.001 - 13.000 6 $889,231.74 0.14
13.001 - 14.000 45 $5,591,924.11 0.85
14.001 - 15.000 359 $46,607,882.25 7.08
15.001 - 16.000 1,290 $155,399,924.66 23.61
16.001 - 17.000 2,212 $230,672,147.86 35.04
17.001 - 18.000 1,594 $141,406,910.53 21.48
18.001 - 19.000 682 $52,173,967.52 7.93
19.001 - 20.000 305 $21,976,118.58 3.34
20.001 - 21.000 28 $1,813,369.67 0.28
21.001 - 22.000 22 $1,115,286.63 0.17
22.001 - 22.875 5 $252,469.05 0.04
- -----------------------------------------------------------------
WgtAvg= 16.672 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Range of Principal Balances
% of
Count Balance Balance
- --------------------------------------------------------------------
<S> <C> <C> <C> <C>
12,257.00 - 25,000.00 154 $3,141,233.25 0.48
25,000.01 - 50,000.00 988 $39,176,853.27 5.95
50,000.01 - 75,000.00 1,443 $90,585,003.47 13.76
75,000.01 - 100,000.00 1,204 $105,716,482.90 16.06
100,000.01 - 150,000.00 1,571 $191,796,541.26 29.13
150,000.01 - 200,000.00 784 $135,532,140.21 20.59
200,000.01 - 250,000.00 381 $85,357,124.45 12.97
250,000.01 - 300,000.00 23 $5,917,707.56 0.90
300,000.01 - 350,000.00 1 $319,854.62 0.05
350,000.01 - 400,000.00 1 $351,000.00 0.05
400,000.01 - 412,840.25 1 $412,840.25 0.06
- --------------------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Range of Minimum Interest Rates
% of
Count Balance Balance
- -----------------------------------------------------------------------------
<S> <C> <C> <C> <C>
4.875 - 5.000 2 $335,633.96 0.05
5.001 - 6.000 6 $889,231.74 0.14
6.001 - 7.000 33 $4,059,422.09 0.62
7.001 - 8.000 242 $29,761,716.62 4.52
8.001 - 9.000 1,232 $151,500,415.76 23.01
9.001 - 10.000 2,192 $230,832,761.55 35.06
10.001 - 11.000 1,738 $158,970,929.22 24.15
11.001 - 12.000 723 $55,463,764.73 8.43
12.001 - 13.000 326 $23,223,111.70 3.53
13.001 - 14.000 30 $1,902,038.19 0.29
14.001 - 15.000 22 $1,115,286.63 0.17
15.001 - 15.875 5 $252,469.05 0.04
- -----------------------------------------------------------------------------
WgtAvg= 9.779 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Range of Combined LTV
Count Balance % of
Balance
- -------------------------------------------------------------------
<S> <C> <C> <C> <C>
7.50 - 10.00 1 $67,436.63 0.01
10.01 - 20.00 9 $347,146.29 0.05
20.01 - 30.00 40 $1,682,743.70 0.26
30.01 - 40.00 70 $4,073,153.62 0.62
40.01 - 50.00 176 $11,729,958.82 1.78
50.01 - 60.00 347 $26,815,170.87 4.07
60.01 - 70.00 1,175 $104,020,130.65 15.80
70.01 - 80.00 2,753 $288,908,633.09 43.89
80.01 - 90.00 1,871 $208,100,106.19 31.61
90.01 - 99.51 109 $12,562,301.38 1.91
- -------------------------------------------------------------------
WgtAvg= 77.58 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs State
% of
Count Balance Balance
- -------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alaska 22 $2,838,716.09 0.43
Arizona 199 $20,124,945.96 3.06
Arkansas 20 $1,604,223.51 0.24
California 1,062 $156,465,244.67 23.77
Colorado 172 $19,831,051.31 3.01
Connecticut 74 $8,482,579.63 1.29
Delaware 7 $615,400.96 0.09
District of Columbia 12 $1,261,972.80 0.19
Florida 333 $29,539,050.39 4.49
Georgia 105 $10,510,908.44 1.60
Hawaii 22 $3,715,128.95 0.56
Idaho 54 $4,762,501.93 0.72
Illinois 249 $23,946,472.59 3.64
Indiana 270 $19,033,592.89 2.89
Iowa 28 $2,019,515.76 0.31
Kansas 63 $4,732,208.56 0.72
Kentucky 109 $7,497,956.10 1.14
Louisiana 106 $9,110,257.15 1.38
Maine 3 $261,632.62 0.04
Maryland 61 $6,075,566.24 0.92
Massachusetts 124 $15,991,042.57 2.43
Michigan 601 $46,582,959.06 7.08
Minnesota 118 $10,966,654.36 1.67
Mississippi 19 $1,400,671.38 0.21
Missouri 153 $10,957,299.14 1.66
Montana 27 $2,735,461.25 0.42
Nebraska 13 $883,473.71 0.13
Nevada 90 $11,102,040.24 1.69
New Hampshire 26 $2,789,867.23 0.42
New Jersey 84 $8,957,390.02 1.36
New Mexico 50 $5,243,376.23 0.80
New York 99 $11,507,088.67 1.75
North Carolina 199 $16,668,235.79 2.53
North Dakota 6 $420,666.78 0.06
Ohio 404 $33,117,957.78 5.03
Oklahoma 98 $6,611,762.22 1.00
Oregon 124 $13,194,031.72 2.00
Pennsylvania 129 $9,963,785.99 1.51
Rhode Island 8 $902,851.13 0.14
South Carolina 40 $3,629,740.64 0.55
South Dakota 7 $424,424.99 0.06
Tennessee 253 $22,675,462.45 3.44
Texas 285 $24,946,526.85 3.79
Utah 94 $10,792,013.48 1.64
Vermont 14 $1,300,593.19 0.20
Virginia 99 $9,884,443.97 1.50
Washington 240 $28,995,187.72 4.40
West Virginia 19 $965,026.90 0.15
Wisconsin 147 $11,359,912.77 1.73
Wyoming 10 $907,906.46 0.14
- -------------------------------------------------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Initial Fixed Rate Period
% of
Count Balance Balance
- -----------------------------------------------------------
<S> <C> <C> <C>
6 126 $13,760,847.24 2.09
12 8 $1,167,187.36 0.18
24 4,862 $498,408,096.55 75.71
36 1,539 $143,156,576.35 21.75
60 16 $1,814,073.74 0.28
- -----------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs 2/28 and 3/27 Next Adjustment Date
Count Balance % of
Balance
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
11/01/2000 1 $98,899.63 0.02
02/01/2001 1 $59,662.98 0.01
04/01/2001 5 $480,612.10 0.07
05/01/2001 11 $1,270,037.93 0.19
06/01/2001 11 $1,270,387.31 0.19
07/01/2001 17 $1,854,697.90 0.28
08/01/2001 24 $2,926,503.89 0.44
09/01/2001 53 $6,116,013.17 0.93
10/01/2001 124 $15,272,765.61 2.32
11/01/2001 250 $28,659,806.98 4.35
12/01/2001 816 $82,301,289.80 12.50
01/01/2002 1,647 $166,874,625.51 25.35
02/01/2002 1,238 $125,877,086.00 19.12
03/01/2002 666 $65,610,054.01 9.97
04/01/2002 5 $437,708.43 0.07
05/01/2002 9 $675,993.44 0.10
06/01/2002 6 $573,873.80 0.09
07/01/2002 14 $1,286,661.93 0.20
08/01/2002 14 $1,391,354.95 0.21
09/01/2002 28 $2,866,732.03 0.44
10/01/2002 86 $8,268,949.97 1.26
11/01/2002 126 $14,022,104.01 2.13
12/01/2002 253 $25,414,269.06 3.86
01/01/2003 477 $43,056,583.57 6.54
02/01/2003 323 $27,262,404.24 4.14
03/01/2003 196 $17,635,594.65 2.68
10/01/2004 3 $332,537.64 0.05
11/01/2004 3 $440,151.87 0.07
12/01/2004 10 $1,041,384.23 0.16
- ------------------------------------------------------------------------------
WgtAvg= 6,417 $643,378,746.64 97.73
</TABLE>
<TABLE>
<CAPTION>
ARMs Non2/28 Non2/27 Next Adjustment
Count Balance % of
Balance
- --------------------------------------------------------------------------
<S> <C> <C> <C>
04/01/2000 2 $100,506.85 0.02
05/01/2000 1 $91,087.46 0.01
06/01/2000 23 $2,723,228.02 0.41
07/01/2000 38 $4,103,737.91 0.62
08/01/2000 40 $4,231,487.00 0.64
09/01/2000 22 $2,510,800.00 0.38
12/01/2000 2 $335,377.09 0.05
01/01/2001 3 $492,210.27 0.07
02/01/2001 3 $339,600.00 0.05
- --------------------------------------------------------------------------
WgtAvg= 134 $14,928,034.60 2.27
</TABLE>
<TABLE>
<CAPTION>
ARMs Property Type
% of
Count Balance Balance
- -------------------------------------------------------------------------
<S> <C> <C> <C>
2-4 Units 225 $26,069,548.15 3.96
Hi Condo 9 $1,043,973.71 0.16
Lo Condo 263 $24,977,867.95 3.79
Manufact 142 $10,986,351.31 1.67
PUD 356 $46,572,598.17 7.07
SinglFam 5,556 $548,656,441.95 83.34
- -------------------------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Occupancy Type
Count Balance % of
Balance
- ---------------------------------------------------------------------------
<S> <C> <C> <C>
2nd/Vaca 32 $2,831,484.43 0.43
Non-owne 436 $32,458,283.86 4.93
Owner Oc 6,083 $623,017,012.95 94.64
- ---------------------------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Scheduled Remaining Term
% of
Count Balance Balance
- ---------------------------------------------------------------
<S> <C> <C> <C> <C>
179 - 180 4 $271,824.70 0.04
343 - 348 1 $59,662.98 0.01
349 - 354 119 $12,519,036.94 1.90
355 - 360 6,427 $645,456,256.62 98.05
- ---------------------------------------------------------------
WgtAvg= 359 6,551 $658,306,781.24 100.00
</TABLE>
<TABLE>
<CAPTION>
ARMs Loan Purpose
Count Balance % of
Balance
- --------------------------------------------------------------------------
<S> <C> <C> <C>
Purchase 2,101 $225,140,613.65 34.20
Refi-Cash 3,745 $359,788,808.29 54.65
Refi-RateT 705 $73,377,359.30 11.15
- --------------------------------------------------------------------------
WgtAvg= 6,551 $658,306,781.24 100.00
</TABLE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048-0557
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
March 16, 2000
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWABS, Inc.
Asset-Backed Certificates, Series 2000-1
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 for tables presenting a detailed description of the
Initial Mortgage Loans that comprised the Initial Mortgage Pool in connection
with the above-referenced transaction.
Very truly yours,
/s/ Zafar Sobhan
Zafar Sobhan
