SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[X] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the period from June 27, 1997 (Commencement of
Operations) to December 31, 1997
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the transition period from to
Commission File Number - 333-19779
MORGAN STANLEY ABS CAPITAL I INC.
(Exact name of registrant as specified in its charter)
Delaware 13-3939229
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification No.)
1585 Broadway
2nd Floor
New York, NY 10036
(Address of principal executive offices)
Registrant's telephone number, including area code : (212) 761-4000
Ocwen Mortgage Loan Asset-Backed Certificates, Series 1997-1
(Title of each class of securities covered by this Form)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
Documents incorporated by reference: None
Page 1 of 4 This report consists of 6
consecutively numbered pages.
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MORGAN STANLEY ABS CAPITAL I INC.
Ocwen Mortgage Loan Asset-Backed Certificates, Series 1997-1
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TABLE OF CONTENTS
Page
PART I
Item 1. Business.........................................................3
Item 2. Properties.............................................. ........3
Item 3. Legal Proceedings................................................3
Item 4. Submission of Matters to a Vote of Security Holders..............3
PART II
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters............................3
Item 6. Selected Financial Data..........................................3
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations............3
Item 8. Financial Statements and Supplementary Data......................3
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.............3
PART III
Item 10. Directors and Executive Officers of the Registrant...............3
Item 11. Executive Compensation...........................................3
Item 12. Security Ownership of Certain Beneficial Owners and Management.. 3
Item 13. Certain Relationships and Related Transactions...................3
PART I
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K. 4
SIGNATURE.................................................................5
Supplemental Information to be Furnished with Reports Filed Pursuant to Section
15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant to
Section 12 of the Act.....................................................6
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PART I
Item 1. Business
Omitted.
Item 2. Properties
Omitted.
Item 3. Legal Proceedings
The Registrant is not aware of any material legal proceeding with respect to,
the Company, the Master Servicer or the Trustee, as related to the Trust,
other than ordinary routine litigation incidental to the duties of the
Trustee or Servicer under the related Pooling and Servicing
Agreement.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote or consent of Holders of the Offered
Certificates during the fiscal year covered by this report.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
The Trust does not issue stock. There is currently no established secondary
market for the Certificates. As of January 2, 1997, the number of
holders of each Class of Offered Certificates were 10.
Item 6. Selected Financial Data
Omitted.
Item 7. Management's Discussion and Analysis of Financial condition and
Results of Operations
Omitted.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
There was no change of accountants or disagreement with accountants on any
matter of accounting principles or practices or financial disclosure.
PART III
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11. Executive Compensation
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Omitted
Item 13. Certain Relationships and Related Transactions
Omitted.
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PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
(1) Financial Statements:
Omitted.
(2) Financial Statement Schedules:
Omitted.
(3) Exhibits:
Omitted
(b) Reports on Form 8-K: The following Current Reports on Form 8-K were
filed by the Registrant during the last quarter of 1997.
A Current Report on Form 8-K, dated January 21, 1998, was filed for the
purpose of filing the Monthly Certificateholder Statements for payments made on
July 25, 1997, August 25, 1997, September 25, 1997, October 27, 1997, November
24, 1997, and December 26, 1997, respectively. A Current Report on Form 8-K/A
dated January 23, 1998, was filed for the purpose of filing an amended Monthly
Certificateholder Statement for payment made on December 26, 1997. The items
reported in such Current Report were Item 5 (Other Events).
(c) Exhibits to this report are listed in Item (14)(a)(3) above.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
CHASE BANK OF TEXAS, N.A.
not in its individual capacity but solely
as Trustee under the Agreement referred
to herein
Date: March 31, 1998 By: /s/Karen Marshall
Karen Marshall, Vice President
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SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION
15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO
SECTION 12 OF THE ACT.
The registrant has not sent an annual report or proxy material to its security
holders. The registrant will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.
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