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): November 21, 2000
ASSET BACKED SECURITIES CORPORTION
as Depositor, Long Beach Mortgage Company, as Master Servicer, and
Bankers Trust Company of California, N.A., as trustee (the
"Trustee") under the Pooling and Servicing Agreement, dated as of
August 1, 2000, providing for the issuance of Asset Backed Securities
Corporation Long Beach Home Equity Loan Trust 2000-LB1 Home Equity
Loan Pass-Through Certificates, Series 2000-LB1
ASSET BACKED SECURITIES CORPORATION
LOAN BEACH HOME EQUITY LOAN TRUST 2000-LB1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
TBD TBD
(Commission File Number) (I.R.S. Employer Identification No.)
11 MADISON AVENUE
NEW YORK, NEW YORK
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 325-1811
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
November 21, 2000.
SIGNATURE
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.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of August 1, 2000.
Date: December 1, 2000 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of November 21, 2000.
Long Beach Mortgage Company 2000-LB1
Home Equity Loan Pass-Through Certificates
November 21, 2000 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Cont
>ents 1
2. Cert
>ificate Payment Report 2
3. Coll
>ection Account Report 8
4. Cred
>it Enhancement Report 11
5. Coll
>ateral Report 12
6. Deli
>nquency Report 15
7. REO
>Report 18
8. Fore
>closure Report 19
9. Prep
>ayment Report 20
10. Prep
>ayment Detail Report 23
11. Real
>ized Loss Report 25
12. Real
>ized Loss Detail Report 28
13. Trig
>gers, Adj. Rate Cert. and Miscellaneous Report 29
Tota
>l Number of Pages
> 29
CONTACTS
Adm
>inistrator: Ronaldo R Reyes
Dir
>ect Phone Number: (714)247-6320
Add
>ress: Deutsche Bank
> 1761 E. St. Andrew Place, Santa Ana, CA 92705
Web
> Site: http://www-apps.gis.deutsche-bank.com/invr
Fac
>tor Information: (800) 735-7777
Mai
>n Phone Number: (714) 247-6000
ISSUANCE INFORMATION
Seller: Long Beach Mortgage
> Cut-Off Date:
> August 1, 2000
Certificate Insurer:
> Closing Date:
> August 31, 2000
Servicer(s): Long Beach Mortgage
> Corp. Master Servicer First Payment Date:
> September 21, 2000
Underwriter(s): CS First Boston
> Underwriter Distribution Date:
> November 21, 2000
> Record Date:
> November 20, 2000
>
> October 31, 2000
> Page 1 of 29
> (c) COPYRIGHT 2000 Deutsche Bank
HISTORICAL DATA
> - STATEMENT 1 GROUP TOTAL
3
issue_idperiod
> t_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
LB00F1 200011
> 0 02452561110791485 3625037 0 0 265 112
>30 0 0 0559471.243948.73 0 0 0 6
> 1
LB00F1 200010
> 0 013820270 4250723207158.5 0 0 151 39
> 1 0 031988.3443961.74 0 0 0 0 1
> 0
LB00F1 200009
> 0 031904736 8237739292452.3 0 0 367 90
> 2 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 1
3
issue_idperiod
>sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
LB00F1 200011
> 1 0 4470728 2014991274570.5 0 0 69 29
> 6 0 0 0559471.243948.73 0 0 0 6
> 1
LB00F1 200010
> 1 0 2677052764002.9 0 0 0 39 12
> 0 0 031988.3443961.74 0 0 0 0 1
> 0
LB00F1 200009
> 1 0 7497276 3174614 0 0 0 116 35
> 0 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 2
3
issue_idperiod
>sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
LB00F1 200011
> 2 020054882 8776494 3350466 0 0 196 83
>24 0 0 0 0 0 0 0 0 0
> 0
LB00F1 200010
> 2 011143218 3486720207158.5 0 0 112 27
> 1 0 0 0 0 0 0 0 0 0
> 0
LB00F1 200009
> 2 024407461 5063125292452.3 0 0 251 55
> 2 0 0 0 0 0 0 0 0 0
> 0
HISTORICAL DATA
> - STATEMENT 1 GROUP 3
0
issue_idperiod
>sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
HISTORICAL DATA
> - STATEMENT 1 GROUP 4
0
issue_idperiod
>sub_poolt_del_0_t_del_1_t_del_2_t_del_3_t_del_4_t_del_0 t_del_1 t_del_2 t_del_
>3t_del_4 t_for_0_t_for_1_t_for_2_t_for_3_t_for_4_t_for_0 t_for_1 t_for_2 t_for
>_3
>
> 7 0
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
>t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0272940.8374910.3678304.9 0 0 3 5
>6 0 0 0 0 0 0 0 0 0
> 0 038942132 407 603420 7 1326156 14 0 01.42E
>+09
0 0378925.9112340.8207158.5 0 0 4 2
>1 0 0 0 0 0 0 0 0 0
> 0 018278151 19175950.08 1698425.2 7 0 0 1.4E
>+09
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 040434928 459 0 0 0 0 0 01.31E
>+09
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
>t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0 062905.71126197.4 0 0 0 1
>2 0 0 0 0 0 0 0 0 0
> 0 0 6760289 104 603420 7189103.1 3 0 03.03E
>+08
0 062929.5663657.81 0 0 0 1 1
>0 0 0 0 0 0 0 0 0 0
> 0 0 3441055 5175950.08 1126587.4 2 0 02.81E
>+08
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 010671889 151 0 0 0 0 0 02.81E
>+08
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
>t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
0 0272940.8312004.6552107.4 0 0 3 4
>4 0 0 0 0 0 0 0 0 0
> 0 032181843 303 0 0 1137053 11 0 01.12E
>+09
0 0315996.3 48683207158.5 0 0 3 1
>1 0 0 0 0 0 0 0 0 0
> 0 014837096 140 0 0571837.8 5 0 01.12E
>+09
0 0 0 0 0 0 0 0 0
>0 0 0 0 0 0 0 0 0 0
> 0 029763038 308 0 0 0 0 0 01.03E
>+09
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
>t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
t_for_4 t_bnk_0_t_bnk_1_t_bnk_2_t_bnk_3_t_bnk_4_t_bnk_0 t_bnk_1 t_bnk_2 t_bnk_3
>t_bnk_4 t_reo_0_t_reo_1_t_reo_2_t_reo_3_t_reo_4_t_reo_0 t_reo_1 t_reo_2 t_reo_
>3t_reo_4 t_del_tot_del_tot_for_tot_for_tot_bnk_tot_bnk_tot_reo_tot_reo_tot_beg
>_ba
74
>0 0 356.956
> 0 0 0.03064183
174581916349357314933.5 0 0 129
>0 0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.41E+09 12672 12598623668.7 870723193323.47 0 0 74
>0 010128.78545020.546818.371.52E+081.45E+0812569792351.7357351.97994.2032
>99 0.050610.1559530.0856370.0080120.008012 0 0 0.025030029
1.4E+09 12412 12369606214.3 6069904 115798 0 0 43
>0 021909.09 55594728930.21 1.5E+081.43E+08 9980839353.1954353.32733.2724
>43 0.051480.1566430.0870950.0081490.008149 0 0 0.012936373
1.31E+09 11664 11652 515936 1572221 105812 0 0 12
>0 0 0162665.6384104.81.41E+081.34E+08 0 0 02.5057
>910.0507440.1559190.085712 0 0 0 0 0.030641826
>
> 0 0.03801239
480540.6 3007577 118439 0 0 34
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
3.01E+08 3629 3605174831.2 215688049440.96 0 0 24
>0 010128.78117354.6 8986.523299101831474925 2830018 336337.2999 4.841
>86 0.004640.1159120.0078280.0007470.000747 0 0 0.021558881
2.8E+08 3335 3326159547.3778701.542352.69 0 0 9
>0 0 3646.53110826.2 6131.93038848628984989239129.3 338338.83594.2300
>750.0050150.1159540.0084640.0008070.000807 0 0 0.012301838
2.81E+08 3317 3316146162.2 7199526645.38 0 0 1
>0 0 0 33710.283369.983041908529014123 0 0 03.2729
>040.0050320.1159080.008475 0 0 0 0 0.038012392
>
> 0 0.02863148
126527813341780196494.5 0 0 95
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
1.11E+09 9043 8993448837.6 655035043882.51 0 0 50
>0 0 0427665.937831.851.19E+081.14E+08 9739774 356 355.9584.0302
>560.063087 0.166820.1067560.0099840.009984 0 0 0.025970668
1.12E+09 9077 9043 446667 529120373445.33 0 0 34
>0 018262.56445120.822798.31 1.2E+081.14E+08 9741710 357356.95563.0326
>750.0630940.1668130.1067490.0099840.009984 0 0 0.013095246
1.03E+09 8347 8336369773.8 150022679166.62 0 0 11
>0 0 0128955.4300734.8 1.1E+081.05E+08 0 0 02.2965
>58 0.0632 0.166820.106757 0 0 0 0 0.028631475
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
>
> 0 0
0 0 0 0 0 0
>0 0
> 0
t_prepayt_repur
>ct_liquid_loan warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cup_down
t_end_bat_beg_lot_end_lot_sch_prt_prepayt_curt t_repurct_liquidt_prepayt_repur
>ct_liquidt_prepayt_curr_st_del_sft_curr_wt_curr_wt_curr_wt_wamm warat was
> wa_grosswa_max_iwa_min_iwa_per_cwa_per_cpool_reareo_bookt_del_1_2_bal_p
0.00256915 0.030865060.000428 0.00094 0 0.1
>09
0 0.1
>06
BankruptREO Total Total Total
>
> Total Total Total
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.002569146 0.0275991760.000428 0.00094 0 Nov-001410.989 0.10
>72 0.0061980.9938020.003964
> 0.0039640.0718980.046547 0.0465474.2032998.5525426.994917
0.000148297 0.0130846715.44E-05 0.0005 0 Oct-001396.9130.1070
>57 0.0044090.995591
> 0.0028450.051639 0.0336133.2724437.889993
0.000223237 0.030865063 0 0 0 Sep-001310.0550.1070
>78 0.0012790.998721
> 0.0012790.015243 0.0152432.5057913.041643
0.00091269 0.038012390.0020060.000629 0
BankruptREO Group 1 Group 1 Group
>1
> Group 1 Group 1 Group 1
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa1or 2 padel_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.000912687 0.0224715680.0020060.000629 0 Nov-00300.83740.1088
>03 0.0072810.9927190.003524
> 0.0035240.0839520.041473 0.041473 4.841868.6693515.039338
0 0.0123018380.0002720.000453 0 Oct-00279.7188 0.108
>26 0.0029270.997073
> 0.00164 0.03456 0.0195014.230075 4.08509
0 0.038012392 0 0 0 Sep-00280.74760.1082
>56 0.0003510.999649
> 0.0003510.004207 0.0042073.2729040.642636
0.00301803 0.02898869 00.001024 0
BankruptREO Group 2 Group 2 Group
>2
> Group 2 Group 2 Group 2
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0.003018026 0.028988694 00.001024 0 Nov-001110.1520.1067
>65 0.0059050.9940950.004074
> 0.0040740.0686020.047804 0.0478044.0302568.5108527.661266
0.000185427 0.013280673 00.000512 0 Oct-001117.1950.1067
>56 0.0047790.995221
> 0.0031570.055864 0.0372313.0326759.210311
0.000284125 0.0289156 0 0 0 Sep-001029.3070.1067
>57 0.0015320.998468
> 0.0015320.018231 0.0182312.2965583.969144
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
0 0 0 0 0
BankruptREO
t_del_3_4_bal_pt_del_total_bal_p t_for_tot_bnk_tot_reo_toPeriod t_end_bawac
> 1or 2 pa3+ pay 6del_totafor_totabnk_totareo_tota1MSMM (1-1MSMM3MSMM 12MSM
>M CUMSMM 1MCPR 3MCPR 12MCPR CUMCPR MIN(30,W1MPSA 3MPSA 12MPSA
>
> Printing Pages Starting# Pages # Pag
>es
Total Total
>
> 1 1Contents 1 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
>CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity 2 2Certificate Payment Repo 2 6
> 0
6.9949178800.554 0 1 0 0 0 0
> 0 0 0 0
> 3 3Collection Account Repor 8 3
> 0
5.8171066185.703 0 1 0 0
> 0 0 0
> 4 4Credit Enhancement Repor 11 1
3.0416431678.033 0 1 0 0
> 0 0 0
> 5 5Collateral Report 12 3
> 0
>
> 6 6Delinquency Report 15 3
> 0
>
> 7 7REO Report 18 1
>
> 8 8Foreclosure Report 19 1
>
> 9 9Prepayment Report 20 3
> 0
>
> 10 10Prepayment Detail Report 23 2
>
> 11 11Realized Loss Report 25 3
> 0
>
> 12 12Realized Loss Detail Rep 28 1
>
> 13 13Triggers, Adj. Rate Cert 29 1
>
> 14 Other Related Information 0
>
> 15 Additional Certificate Report 0
>
> 16 Historical Certificate Payment Report
>
> 17 Credit Ratings
>
> Total Total Total Number of Pages 29
Group 1 Group 1 Group 1
> Group 1 Group 1
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
>CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
5.0393382206.321 0 1 0 0 0 0
> 0 0 0 0
2.599098821.0542 0 1 0 0
> 0 0 0
0.64263698.64038 0 1 0 0
> 0 0 0
Group 2 Group 2 Group 2
> Group 2 Group 2
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
>CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
7.6612666594.233 0 1 0 0 0 0
> 0 0 0 0
6.9862045364.648 0 1 0 0
> 0 0 0
3.9691441579.393 0 1 0 0
> 0 0 0
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
>CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
CUMPSA prep+cur1MMDR (1-MDR) 3MMDR 12MMDR CUMMDR 1MCDR 3MCDR 12MCDR
>CUMCDR 1MSDA 3MSDA 12MSDA CUMSDA loss_sev3M_loss_12M_lossCUM_loss_sever
>ity
# Pages Total # # Standard Pgs per Report
1 1
0 6 2 1
0 3 3 1
1 1 1
0 3 3 1
0 3 1 1
1 1
1 1
0 3 3 1
2 1
0 3 3 1
1 1
1 1 1
0 0
0 1 0
0 0
0 0
29
