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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): September 11, 2000
OPTION ONE MORTGAGE ACCEPTANCE CORPORATION
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF JULY 1, 2000, PROVIDING FOR THE ISSUANCE OF
ASSET-BACKED CERTIFICATES,
SERIES 2000-3)
OPTION ONE MORTGAGE ACCEPTANCE CORPORATION
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(Exact name of registrant as specified in its charter)
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DELAWARE 333-96403 33-0727357
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
3 Ada
IRVINE, CALIFORNIA 92618
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (949) 790-8100
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Item 2. ACQUISITION OR DISPOSITION OF ASSETS
On July 21, 2000, a single series of certificates, entitled
Option One Mortgage Loan Trust, Asset-Backed Certificates, Series 2000-3 (the
"Certificates"), were issued pursuant to a pooling and servicing agreement,
dated as of July 1, 2000 (the "Agreement"), among Option Mortgage Acceptance
Corporation as depositor (the "Depositor"), Option One Mortgage Corporation
("Option One") as master servicer (in such capacity, the "Master Servicer") and
Wells Fargo Bank Minnesota, National Association as trustee (the "Trustee"). On
August 31, 2000 following the closing of the initial issuance of the
Certificates, the Trustee purchased from the Depositor certain Subsequent
Mortgage Loans, as defined in the Agreement, with an aggregate principal balance
equal to approximately $23,114,773.22 with funds on deposit in the pre-funding
account (the "Pre-Funding Account") established pursuant to the Agreement at a
purchase price equal to the principal balance thereof, which Subsequent Mortgage
Loans were conveyed to the Trustee pursuant to a Subsequent Transfer Instrument,
dated August 31, 2000, between the Depositor and the Trustee (the "Instrument").
Attached to the Instrument is the Mortgage Loan Schedule listing the Subsequent
Mortgage Loans that are the subject of such Instrument.
Item 5. OTHER EVENTS
Description of the Mortgage Pool
The Certificates, issued pursuant to the Agreement, evidence in the
aggregate the entire beneficial ownership interest in a trust fund (the "Trust
Fund"), consisting primarily of a segregated pool (the "Mortgage Pool") of
conventional, one- to four- family, first lien adjustable-rate mortgage loans
having original terms to maturity of not greater than 30 years (the "Mortgage
Loans"). As of the Closing Date, the Trust Fund primarily consisted of (i) the
Mortgage Pool, which consisted of Mortgage Loans having an aggregate principal
balance of approximately $76,882,417.30 as of July 1, 2000 and (ii) the
Pre-Funding Account, which contained approximately $23,117,582.70.
As more fully described above, on August 31, 2000, the Depositor
purchased the Subsequent Mortgage Loans with the funds on deposit in the
Pre-Funding Account. The tables attached as an exhibit hereto describe certain
characteristics of the Mortgage Pool as of August 1, 2000, the end of the
"Funding Period" (as defined in the Agreement).
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Exhibits
EXHIBIT NO. DESCRIPTION
4.2 Subsequent Transfer Instrument, dated as of
August 31, 2000 between Option One Mortgage
Acceptance Corporation as seller and Wells
Fargo Bank Minnesota, National Association,
as trustee.
99.1 Characteristics of the Mortgage Pool as of
August 1, 2000, relating to Option One
Mortgage Loan Trust 2000-3, Asset- Backed
Certificates, Series 2000-3
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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: September 11, 2000
OPTION ONE MORTGAGE
ACCEPTANCE CORPORATION
By: /s/ William L. O'Neill
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Name: William L. O'Neill
Title: Treasurer
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INDEX TO EXHIBITS
Sequentially
Exhibit No. Description Numbered Page
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4.2 Subsequent Transfer Instrument
99.1 Characteristics of the Mortgage Pool as of
August 1, 2000, relating to Option One Mortgage
Acceptance Corporation, Asset-Backed
Certificates, Series 2000-3
