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UNITED STATES
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): April 25, 2000
OPTION ONE MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2000-1 Trust
52-2220094
52-2220095
52-2220097
New York (governing law of 333-14625-03 52-2220099
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
C/O Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On April 25, 2000 a distribution was made to holders of OPTION ONE MORTGAGE
LOAN TRUST, Asset Backed Certificates, Series 2000-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
Monthly report distributed to holders of
EX-99.1 Asset Backed Certificates, Series 2000-1
Trust, relating to the April 25, 2000
distribution.
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.
OPTION ONE MORTGAGE LOAN TRUST
Asset Backed Certificates, Series 2000-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 5/3/2000
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Certificates, Series 2000-1 Trust, relating to the April 25,
2000 distribution.
<TABLE>
<CAPTION>
Option One Mortgage Loan Trust
Mortgage Pass-Through Certificates
Record Date: 3/31/2000
Distribution Date: 4/25/2000
OOMC Series: 2000-1
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A 68389FAN4 SEQ 6.45500% 133,990,709.25 696,733.08 787,134.48
M-1 68389FAP9 SEQ 6.62500% 13,306,000.00 71,011.53 0.00
M-2 68389FAQ7 SEQ 7.12500% 9,444,000.00 54,204.63 0.00
M-3 68389FAR5 SEQ 8.62500% 7,727,000.00 53,686.55 0.00
S 68389FAS3 IO 3.50000% 0.00 50,079.17 0.00
C OPT00010C SUB 78.00478% 6,008,900.01 390,607.07 0.00
R-1 OPT0001R1 RES 0.00000% 0.00 0.00 0.00
R-2 OPT0001R2 RES 0.00000% 0.00 0.00 0.00
R-3 OPT0001R3 RES 0.00000% 0.00 0.00 0.00
R-4 OPT0001R4 RES 0.00000% 0.00 0.00 0.00
P OPT00001P SEQ 0.00000% 100.00 6,861.06 0.00
Totals 170,476,709.26 1,323,183.09 787,134.48
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A 0.00 133,203,574.77 1,483,867.56 0.00
M-1 0.00 13,306,000.00 71,011.53 0.00
M-2 0.00 9,444,000.00 54,204.63 0.00
M-3 0.00 7,727,000.00 53,686.55 0.00
S 0.00 0.00 50,079.17 0.00
C 0.00 6,008,900.01 390,607.07 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
R-4 0.00 0.00 0.00 0.00
P 0.00 100.00 6,861.06 0.00
Totals 0.00 169,689,574.78 2,110,317.57 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A 135,214,000.00 133,990,709.25 0.00 787,134.48 0.00 0.00
M-1 13,306,000.00 13,306,000.00 0.00 0.00 0.00 0.00
M-2 9,444,000.00 9,444,000.00 0.00 0.00 0.00 0.00
M-3 7,727,000.00 7,727,000.00 0.00 0.00 0.00 0.00
S 0.00 0.00 0.00 0.00 0.00 0.00
C 6,008,900.01 6,008,900.01 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00 0.00
R-4 0.00 0.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 171,700,000.01 170,476,709.26 0.00 787,134.48 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A 787,134.48 133,203,574.77 0.98513153 787,134.48
M-1 0.00 13,306,000.00 1.00000000 0.00
M-2 0.00 9,444,000.00 1.00000000 0.00
M-3 0.00 7,727,000.00 1.00000000 0.00
S 0.00 0.00 0.00000000 0.00
C 0.00 6,008,900.01 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
R-4 0.00 0.00 0.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 787,134.48 169,689,574.78 0.98829106 787,134.48
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A 135,214,000.00 990.95292832 0.00000000 5.82139778 0.00000000
M-1 13,306,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 9,444,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 7,727,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 6,008,900.01 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) Per $1,000 denomination except for class P which is per $100.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A 0.00000000 5.82139778 985.13153054 0.98513153 5.82139778
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
S 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 135,214,000.00 6.45500% 133,990,709.25 696,733.08 0.00 0.00
M-1 13,306,000.00 6.62500% 13,306,000.00 71,011.53 0.00 0.00
M-2 9,444,000.00 7.12500% 9,444,000.00 54,204.63 0.00 0.00
M-3 7,727,000.00 8.62500% 7,727,000.00 53,686.55 0.00 0.00
S 0.00 3.50000% 17,170,000.00 50,079.17 0.00 0.00
C 6,008,900.01 78.00478% 6,008,900.01 390,602.45 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
R-3 0.00 0.00000% 0.00 0.00 0.00 0.00
R-4 0.00 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 171,700,000.01 1,316,317.41 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00 0.00 696,733.08 0.00 133,203,574.77
M-1 0.00 0.00 71,011.53 0.00 13,306,000.00
M-2 0.00 0.00 54,204.63 0.00 9,444,000.00
M-3 0.00 0.00 53,686.55 0.00 7,727,000.00
S 0.00 0.00 50,079.17 0.00 17,170,000.00
C 0.00 0.00 390,607.07 0.00 6,008,900.01
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
R-4 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 6,861.06 0.00 100.00
Totals 0.00 0.00 1,323,183.09 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A 135,214,000.00 6.45500% 990.95292832 5.15281761 0.00000000 0.00000000
M-1 13,306,000.00 6.62500% 1000.00000000 5.33680520 0.00000000 0.00000000
M-2 9,444,000.00 7.12500% 1000.00000000 5.73958386 0.00000000 0.00000000
M-3 7,727,000.00 8.62500% 1000.00000000 6.94791640 0.00000000 0.00000000
S 0.00 3.50000% 1000.00000000 2.91666686 0.00000000 0.00000000
C 6,008,900.01 78.00478% 1000.00000000 65.00398565 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-4 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1,000 denomination except for class P which $100.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A 0.00000000 0.00000000 5.15281761 0.00000000 985.13153054
M-1 0.00000000 0.00000000 5.33680520 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.73958386 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 6.94791640 0.00000000 1000.00000000
S 0.00000000 0.00000000 2.91666686 0.00000000 1000.00000000
C 0.00000000 0.00000000 65.00475451 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00000000 0.00000000 68610.60000000 0.00000000 1000.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 2,154,719.54
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 27,051.56
Realized Losses 0.00
Total Deposits 2,181,771.10
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 71,458.16
Payment of Interest and Principal 2,110,312.94
Total Withdrawals (Pool Distribution Amount) 2,181,771.10
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 71,031.94
Trustee Fee 426.19
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 71,458.13
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 1,000.00 4.62 4.62 1,000.00
</TABLE>
<TABLE>
<CAPTION> CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 5 1,438,427.78 0.865052% 0.847682%
60 Days 7 2,016,379.98 1.211073% 1.188276%
90+ Days 2 386,387.10 0.346021% 0.227702%
Foreclosure 7 2,250,995.89 1.211073% 1.326538%
REO 0 0.00 0.000000% 0.000000%
Totals 21 6,092,190.75 3.633218% 3.590197%
</TABLE>
(7) The foreclosure, bankruptcy and REO loans are also included in the 30, 60,
90 stratification data. As a result, the foreclosure, bankruptcy, and REO loans
will be double counted in the total line amount
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Current Period Class A Insufficient Funds 0.00
Periodic Advance 27,051.56
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
Class M-1 23,180,000.01 13.50029121% 23,180,000.01 13.66023814% 7.841377% 0.000000%
Class M-2 13,736,000.01 8.00000001% 13,736,000.01 8.09478133% 5.565457% 0.000000%
Class M-3 6,009,000.01 3.49970880% 6,009,000.01 3.54117218% 4.553609% 0.000000%
Class S 6,009,000.01 3.49970880% 6,009,000.01 3.54117218% 0.000000% 0.000000%
Class C 100.00 0.00005824% 100.00 0.00005893% 3.541113% 0.000000%
Class R-I 100.00 0.00005824% 100.00 0.00005893% 0.000000% 0.000000%
Class R-II 100.00 0.00005824% 100.00 0.00005893% 0.000000% 0.000000%
Class R-III 100.00 0.00005824% 100.00 0.00005893% 0.000000% 0.000000%
Class R-IV 100.00 0.00005824% 100.00 0.00005893% 0.000000% 0.000000%
Class P 0.00 0.00000000% 0.00 0.00000000% 0.000059% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 9.768670%
Weighted Average Net Coupon 9.313966%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 355
Beginning Scheduled Collateral Loan Count 581
Number Of Loans Paid In Full 3
Ending Scheduled Collateral Loan Count 578
Beginning Scheduled Collateral Balance 170,476,709.26
Ending Scheduled Collateral Balance 169,689,574.78
Ending Actual Collateral Balance at 31-Mar-2000 169,727,882.54
Monthly P &I Constant 1,480,160.47
Ending Scheduled Balance for Premium Loans 169,689,574.78
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 6,009,000.01
Overcollateralized Amount 5,221,865.53
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 390,602.45
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Bankruptcy 1 / 131,798.67
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 9.981823 9.748287
Weighted Average Net Rate 10.032173 9.245287
Weighted Average Maturity 335.00 357.00
Beginning Loan Count 90 491 581
Loans Paid In Full 1 2 3
Ending Loan Count 89 489 578
Beginning Scheduled Balance 14,878,955.74 155,597,753.52 170,476,709.26
Ending scheduled Balance 14,794,866.17 154,894,708.61 169,689,574.78
Record Date 3/31/00 3/31/00
Principal And Interest Constant 140,000.35 1,340,160.12 1,480,160.47
Scheduled Principal 9,373.37 76,150.48 85,523.85
Unscheduled Principal 74,716.20 626,894.43 701,610.63
Scheduled Interest 130,626.98 1,264,009.64 1,394,636.62
Servicing Fees 6,199.56 64,832.38 71,031.94
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 37.20 388.99 426.19
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 124,390.22 1,198,788.27 1,323,178.49
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
Percentage Of Balance 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 0 0 0 0 0 0
Percentage Of Loans 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 2,676,147.41 292,000.00 0.00 0.00 0.00 0.00
Percentage Of Balance 1.728% 0.189% 0.000% 0.000% 0.000% 0.000%
Loan Count 10 1 0 0 0 0
Percentage Of Loans 2.045% 0.204% 0.000% 0.000% 0.000% 0.000%
Totals:Principal Balance 2,676,147.41 292,000.00 0.00 0.00 0.00 0.00
Percentage of Balance 1.577% 0.172% 0.000% 0.000% 0.000% 0.000%
Loan Count 10 1 0 0 0 0
Percentage Of Loans 1.730% 0.173% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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