<PAGE>
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 - December 26, 2000
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(Date of Earliest Event Reported)
EQUITY ONE ABS, INC.
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(as depositor under a certain Pooling and Servicing Agreement
dated as of October 31, 2000, providing for the issuance of
Mortgage Pass-Through Certificates, Series 2000-1)
(Exact Name of Registrant as specified in its charter)
Delaware 333-81237 52-2029487
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(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803
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(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 478-6160
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<PAGE>
Item 5. Other Events
Attached hereto as Annex A is a copy of the Statement to
Certificateholders provided to Class A Certificateholders with respect to the
December 26, 2000 Distribution Date.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
The quarterly financial statements for the period ended September 30,
2000 for Ambac Assurance Corporation are incorporated into this report by
reference to the Form 10-Q filed by Ambac Financial Group, Inc. with the United
States Securities and Exchange Commission on November 13, 2000.
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
EQUITY ONE ABS, INC.
By: /s/ James H. Jenkins
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James H. Jenkins, Chief Financial Officer
Dated: January 2, 2000
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<PAGE>
Page 1 of 3
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Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2000-1
Statement to Certificateholders
December 26, 2000
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<TABLE>
<CAPTION>
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DISTRIBUTION IN DOLLARS
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ORIGINAL BEGINNING
FACE PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL
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<S> <C> <C> <C> <C> <C>
A1 63,000,000.00 63,000,000.00 2,521,551.85 390,075.00 2,911,626.85
A2 25,000,000.00 25,000,000.00 0.00 152,604.17 152,604.17
A3 38,000,000.00 38,000,000.00 0.00 239,083.33 239,083.33
A4 27,000,000.00 27,000,000.00 0.00 174,825.00 174,825.00
A5 18,000,000.00 18,000,000.00 0.00 120,225.00 120,225.00
A6 19,000,000.00 19,000,000.00 0.00 120,333.33 120,333.33
R 0.00 0.00 0.00 0.00 0.00
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TOTALS 190,000,000.00 190,000,000.00 2,521,551.85 1,197,145.83 3,718,697.68
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X 190,000,000.00 190,558,599.82 0.00 25.73 25.73
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<CAPTION>
ENDING
REALIZED DEFERRED PRINCIPAL
CLASS LOSSES INTEREST BALANCE
----- -------- -------- ---------
<S> <C> <C> <C>
A1 0.00 0.00 60,478,448.15
A2 0.00 0.00 25,000,000.00
A3 0.00 0.00 38,000,000.00
A4 0.00 0.00 27,000,000.00
A5 0.00 0.00 18,000,000.00
A6 0.00 0.00 19,000,000.00
R 0.00 0.00 0.00
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TOTALS 0.00 0.00 187,478,448.15
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X 0.00 0.00 188,364,732.95
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
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BEGINNING ENDING
CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL
----- --------- --------- --------- -------- ----- ---------
<S> <C> <C> <C> <C> <C> <C>
A1 294751AJ1 1,000.00000000 40.02463254 6.19166667 46.21629921 959.97536746
A2 294751AK8 1,000.00000000 0.00000000 6.10416680 6.10416680 1,000.00000000
A3 294751AL6 1,000.00000000 0.00000000 6.29166658 6.29166658 1,000.00000000
A4 294751AM4 1,000.00000000 0.00000000 6.47500000 6.47500000 1,000.00000000
A5 294751AN2 1,000.00000000 0.00000000 6.67916667 6.67916667 1,000.00000000
A6 294751AP7 1,000.00000000 0.00000000 6.33333316 6.33333316 1,000.00000000
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TOTALS 1,000.00000000 13.27132553 6.30076753 19.57209305 986.72867447
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X 1,002.93999905 0.00000000 0.00013542 0.00013542 991.39333132
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<CAPTION>
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PASS-THROUGH RATES
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CURRENT
PASS THRU
CLASS RATE
----- ---------
<S> <C>
A1 7.430000 %
A2 7.325000 %
A3 7.550000 %
A4 7.770000 %
A5 8.015000 %
A6 7.600000 %
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X 0.000000 %
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</TABLE>
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IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
Robert Wainwright
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor
New York, New York 10001
Tel: (212) 946-7551
Email: [email protected]
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[LOGO] (C)COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
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Page 2 of 3
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Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2000-1
December 26, 2000
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<TABLE>
<S> <C> <C>
Sec. 4.03(i) Funds Allocable to Certificate Principal
Scheduled Principal 134,766.14
Curtailments 26,379.63
Prepayments 2,032,721.10
Available Distributable Excess Spread 327,684.98
Liquidation Proceeds 0.00
Sec. 4.03(ii) Interest Distribution Amounts
Interest Distribution - A1 390,075.00
Unpaid Interest - A1 0.00
Remaining Unpaid Interest - A1 0.00
Interest Distribution - A2 152,604.17
Unpaid Interest - A2 0.00
Remaining Unpaid Interest - A2 0.00
Interest Distribution - A3 239,083.33
Unpaid Interest - A3 0.00
Remaining Unpaid Interest - A3 0.00
Interest Distribution - A4 174,825.00
Unpaid Interest - A4 0.00
Remaining Unpaid Interest - A4 0.00
Interest Distribution - A5 120,225.00
Unpaid Interest - A5 0.00
Remaining Unpaid Interest - A5 0.00
Interest Distribution - A6 120,333.33
Unpaid Interest - A6 0.00
Remaining Unpaid Interest - A6 0.00
Sec. 4.03(iii) Available Funds Shortfall 0.00
Sec. 4.03(v) Ending Pool Balance 188,364,732.00
Sec. 4.03(vi) Servicing Fee 80,229.54
Sec. 4.03(viii) Advances Included in Current Distribution 462,681.67
Aggregate Amount of Advances Outstanding 462,681.67
</TABLE>
[LOGO] (C)COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
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Page 3 of 3
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Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2000-1
December 26, 2000
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Sec. 4.03(ix) Loans Delinquent
<TABLE>
<CAPTION>
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Group Totals
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Period Number Principal Balance Percentage
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<S> <C> <C> <C> <C>
0-30 days 352 29,282,503.25 15.55%
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31-60 days 50 3,779,390.01 2.01%
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61-90 days 8 747,280.05 0.40%
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91+ days 0 0.00 0.00%
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Total 410 33,809,173.31 17.96%
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</TABLE>
Sec. 4.03(ix) Loans in Foreclosures
<TABLE>
<CAPTION>
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Group Totals
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Number Principal Balance Percentage
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<S> <C> <C> <C>
0 0.00 0.00%
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</TABLE>
Sec. 4.03(xi) Loans in REO
<TABLE>
<CAPTION>
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Group Totals
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Number Principal Balance Percentage
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<S> <C> <C> <C>
0 0.00 0.00%
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</TABLE>
<TABLE>
<S> <C> <C>
Sec. 4.03(xii) Aggregate Stated Principal Balance of the three largest loans. 1,452,451.99
Sec. 4.03(xiii) Net WAC Cap Carryover Amounts Due Class A5 0.00
Net WAC Cap Carryover Amounts Paid to Class A5 0.00
Sec. 4.03(xiv) Aggregate Principal Balance of Balloon Loans w/Original Terms
(less than or equal to)36 months 60+ Delinquent 1,393,509.40
Sec. 4.03(xv) Loan Losses 0.00
Cumulative Loan Losses 0.00
</TABLE>
[LOGO] (C)COPYRIGHT 2000, CHASE MANHATTAN CORPORATION
