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): March 25, 2000
CWABS
(Depositor)
(Issuer in respect of Asset-Backed Certificates, Series 2000-1)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 91110-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
CWABS
Asset-Backed Certificates
Series 2000-1
On March 25, 2000, The Bank of New York, as Trustee for CWABS, Asset-Backed
Certificates Series 2000-1, made a monthly distribution to Certificate holders
of principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of February 1, 2000, among CWABS as Depositor, CWABS, Inc., Seller and
Master Servicer and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of CWABS, Asset-Backed Certificates Series
2000-1 relating to the distribution date of March 25, 2000
prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of February 1,
2000.
<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 thereunto duly authorized.
Dated: March 25, 2000
CWABS
By: /s/ Kelly A. Sheahan
------------------------------
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated March 25, 2000
Payment Date: 03/25/00
------------------------------------------------------------
CWABS, Inc.
Asset-Backed Certificates, Series 2000-1
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<TABLE>
<CAPTION>
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior AF1 102,600,000.00 6.075000% 1,056,904.25 484,785.00 1,541,689.25 0.00 0.00
AF2 23,700,000.00 7.740000% 0.00 152,865.00 152,865.00 0.00 0.00
AF3 61,800,000.00 7.830000% 0.00 403,245.00 403,245.00 0.00 0.00
AF4 31,000,000.00 8.140000% 0.00 210,283.33 210,283.33 0.00 0.00
AF5 33,620,000.00 8.300000% 0.00 232,538.33 232,538.33 0.00 0.00
AF6 31,200,000.00 7.950000% 0.00 206,700.00 206,700.00 0.00 0.00
MF1 9,360,000.00 8.310000% 0.00 64,818.00 64,818.00 0.00 0.00
MF2 9,360,000.00 8.600000% 0.00 67,080.00 67,080.00 0.00 0.00
BF 9,360,000.00 8.600000% 0.00 67,080.00 67,080.00 0.00 0.00
AV1 161,460,000.00 6.177500% 370,120.02 775,770.45 1,145,890.47 0.00 0.00
AV2 600,000,000.00 6.137500% 3,845,386.17 2,864,166.67 6,709,552.84 0.00 0.00
MV1 57,720,000.00 6.347500% 0.00 284,960.43 284,960.43 0.00 0.00
MV2 33,300,000.00 7.727500% 0.00 200,142.25 200,142.25 0.00 0.00
BV 35,520,000.00 7.977500% 0.00 220,391.73 220,391.73 0.00 0.00
BFI 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
BVI 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,200,000,000.00 - 5,272,410.44 6,234,826.20 11,507,236.64 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior AF1 101,543,095.75 0.00
AF2 23,700,000.00 0.00
AF3 61,800,000.00 0.00
AF4 31,000,000.00 0.00
AF5 33,620,000.00 0.00
AF6 31,200,000.00 0.00
MF1 9,360,000.00 0.00
MF2 9,360,000.00 0.00
BF 9,360,000.00 0.00
AV1 161,089,879.98 0.00
AV2 596,154,613.83 0.00
MV1 57,720,000.00 0.00
MV2 33,300,000.00 0.00
BV 35,520,000.00 0.00
BFI 0.00 0.00
BVI 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,194,727,589.56 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/00
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CWABS, Inc.
Asset-Backed Certificates, Series 2000-1
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
Senior AF1 102,600,000.00 6.075000% 126671GW0 10.301211 4.725000 989.698789
AF2 23,700,000.00 7.740000% 126671GX8 0.000000 6.450000 1,000.000000
AF3 61,800,000.00 7.830000% 126671GY6 0.000000 6.525000 1,000.000000
AF4 31,000,000.00 8.140000% 126671GZ3 0.000000 6.783333 1,000.000000
AF5 33,620,000.00 8.300000% 126671HA7 0.000000 6.916667 1,000.000000
AF6 31,200,000.00 7.950000% 126671HB5 0.000000 6.625000 1,000.000000
MF1 9,360,000.00 8.310000% 126671HC3 0.000000 6.925000 1,000.000000
MF2 9,360,000.00 8.600000% 126671HD1 0.000000 7.166667 1,000.000000
BF 9,360,000.00 8.600000% 126671HE9 0.000000 7.166667 1,000.000000
AV1 161,460,000.00 6.177500% 126671HF6 2.292333 4.804722 997.707667
AV2 600,000,000.00 6.137500% 126671HG4 6.408977 4.773611 993.591023
MV1 57,720,000.00 6.347500% 126671HH2 0.000000 4.936944 1,000.000000
MV2 33,300,000.00 7.727500% 126671HJ8 0.000000 6.010278 1,000.000000
BV 35,520,000.00 7.977500% 126671HK5 0.000000 6.204722 1,000.000000
BFI 0.00 0.000000% NA 0.000000 0.000000 0.000000
BVI 0.00 0.000000% NA 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,200,000,000.00 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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CWABS, Inc.
Asset-Backed Certificates, Series 2000-1
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin. bal. 290,974,478.12 697,078,236.71 188,112,193.35 1,176,164,908.18
Aggregated loan count 3866 6966 862 11694
Average loan rate 8.419304% 8.281260% 7.862471% 8.25
Prepayment amount 813,395.10 2,344,740.12 101,020.57 3,259,155.79
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 98,541.79 246,507.89 64,224.64 409,274.32
Monthly sub servicer fees 0.00 0.00 0.00 0.00
Monthly trustee fees 0.00 0.00 0.00 0.00
Aggregate advances N/A N/A N/A N/A
Advances this periods 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00 0.00
Fraud 0.00 0.00 0.00 0.00
Special Hazard 0.00 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 1,200,000,000.00
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 207 21,744,772.70
60 to 89 days 43 3,438,438.59
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 250 25,183,211.29
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 11,507,236.64 11,507,236.64
Principal remittance amount 5,272,410.44 5,272,410.44
Interest remittance amount 6,234,826.20 6,234,826.20
