8-K 1 jun8k.txt COUNTRYWIDE 2002-A, JUNE 2002, 8K 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): 17-Jun-02 CWABS, INC. (AS DEPOSITOR UNDER THE SALE AND SERVICING AGREEMENT, DATED AS OF FEBRUARY 28, 2002, PROVIDING FOR THE ISSUANCE OF REVOLVING HOME EQUITY LOAN ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES 2002-A) CWABS, INC. (Exact name of registrant as specified in its charter) DELAWARE 333-73712 95-4596514 (State or Other (Commission (I.R.S. Employer Jurisdiction of File Number) Identification Incorporation) Number) 4500 Park Granada, Calabasas, CA 91302 (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code: 818-225-3240 Item 5. Other Events On 17-Jun-02a scheduled distribution was made from the trust to holders of the certificates. The Trustee has caused to be filed with the commission, the Monthly Report dated 17-Jun-02The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area. A. Monthly Report Information: See Exhibit No.1 B. Have any deficiencies occurred? NO. Date: Amount: C. Item 1: Legal Proceedings: NONE D. Item 2: Changes in Securities: NONE E. Item 4: Submission of Matters to a Vote of Certificateholders: NONE F. Item 5: Other Information - Form 10-Q, Part II - Items 1,2,4,5 if applicable: NOT APPLICABLE Item 7. Monthly Statements and Exhibits Exhibit No. 1. Monthly Distribution Report dated 17-Jun-02 COUNTRYWIDE HOME EQUITY LOAN TRUST REVOLVING ASSET BACKED PASS-THROUGH CERTIFICATES SERIES 2002-A STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 17-Jun-02 Beginning Certificate Class Balance(1) Principal Interest A 584,464,993.89 10,136,861.63 1,125,095.11 A-IO 584,464,993.89 0.00 1,140,885.12 Ending Certificate Class Cusip Losses Balance A 126671 PB6 0.00 574,328,132.26 A-IO 126671 PC4 0.00 574,328,132.26 AMOUNTS PER $1,000 UNIT Class Principal Interest Total A 16.89476938 1.87515852 18.76992790 A-IO 0.00000000 1.90147520 1.90147520 Ending Current Certificate Pass-Through Class Balance Losses Interest Rate A 957.21355377 0.00 2.10000% A-IO 957.21355377 0.00 2.87744% Investor Certificate Rates based on a LIBOR of: 1.84000% Distribution Date 17-Jun-02 Distribution Statement Sale and Servicing Agreement dated Feb 28, 2002 (i) Investor Floating Allocation Percentage 100.00000% (ii)Class A aggregate amount 11,261,956.74 Class A-IO aggregate amount 1,140,885.12 (iiiClass A Interest 1,125,095.11 Class A-IO Interest 1,140,885.12 (iv)Class A Unpaid Investor Interest Shortfall paid 0.00 Class A Unpaid Investor Interest Shortfall paid 0.00 (v) Class A Remaining Unpaid Investor Interest Shortfall 0.00 Class A-IO Remaining Unpaid Investor Interest Shortfa 0.00 (vi)Principal Distributed (viiInvestor Loss Amount paid as principal 0.00 Investor Loss Reduction Amounts paid as principal 0.00 Scheduled Principal Collections Payment Amount 10,136,861.63 Guaranteed Principal Distribution Amount 0.00 0.00 Total Principal Distributed 10,136,861.63 (viiUnreimbursed Investor Loss Reduction Amounts 0.00 Per $1000 of Original Class A Balance 0.0000000 (ix)Basis Risk Carryforward Distributed 0.00 (x) Basis Risk Carryforward Remaining 0.00 (xi)Servicing Fee 243,527.08 (xiiNote Principal Balance (before distributions) 584,464,993.89 Note Principal Balance (after distributions) 574,328,132.26 Factor (before distributions) 0.9741083 Factor (after distributions) 0.9572136 (xiiLoan Balance of Mortgage Loans 574,328,132.26 (xivCredit Enhancement Draw Amount 0.00 (xv)Delinquency Information Count Balance % of Group Bal 30-59 days 48 1,280,164.34 0.222898% 60-89 days 6 259,020.62 0.045100% 90 or more days 1 148,672.51 0.025886% Total 55 1,687,857.47 0.293884% *Note: The above statistics do not include loans in foreclosure proceedings or REO properties. (xviForeclosure and REO Information Count Balance % of Group Bal Foreclosure 1 11,755.22 0.002047% REO 0 0.00 0.000000% Total 1 11,755.22 0.002047% (xviOptional Servicer Advances (Current Collection Period 0.00 Optional Servicer Advances (Outstanding) 0.00 (xviClass A Note Rate 2.10000% Class A-IO Note Rate 2.87744% (xixMortgage Loans retransferred to the Transferor pursuant to Sect. 2.04 and 2.06 Count 0 Principal Balance 0.00 (xx)Loan Insurance Policy payments 0.00 (xxiSeller Loss Coverage Amount 12,000,000.00 Seller Loss Coverage Obligation Payments 0.00 Other information Mortgage Loans Payment Summary Interest Received 3,141,874.25 Net Liquidation Proceeds (Allocable to Interest) 0.00 Insurance Proceeds (Allocable to Interest) 0.00 Servicer Optional Advance (Allocable to Interest) 0.00 Purchase Price per Sect. 2.02 (a) (Allocable to Inter 0.00 Purchase Price (90+ Day Delinq) (Allocable to Interes 0.00 Residual Advance 0.00 Total Interest 3,141,874.25 Investor Interest Collections 2,352,129.45 Begining Balance 584,464,993.89 Principal Collections 21,633,576.02 Net Liquidation Proceeds (Alloc. to Principal) 0.00 Insurance Proceeds (Alloc. to Principal) 0.00 Purchase Price per Sect. 2.02 (a) (Alloc. to Principa 0.00 Purchase Price (90+ Day Delinq) (Alloc. to Principal) 0.00 Loans Removed from the Trust by the Servicer per Sect 0.00 Transfer Deposit Amount per Sect. 2.02 (a) 0.00 Total Principal 21,633,576.02 Additional Balances 11,496,714.39 Ending Principal Balance 574,328,132.26 Total Collections 23,985,705.47 Alternative Principal Payment 10,136,861.63 Loans Average Daily Balance 586,900,633.86 0.00 Weighted Average Loan Rate 6.778911% Weighted Average Net Loan Rate 4.977439% Maximum Rate 4.909255% Loan Modification Summary Current Loans with Senior Lien Balance Modification (CLTV<80% 74,200.00 Loans with Senior Lien Balance Modification (CLTV>80% 202,954.36 Loans with Credit Limit Modification 945,083.04 Loans with Gross Margin Modification 882,565.14 Credit Enhancer Information 0.00 Amount due to Credit Enhancer from Prepayment Shortfa 0.00 FGIC Surety Bond in force? YES Credit Enhancement Draw Amount 0.00 Guaranteed Principal Payment Amount 0.00 Guaranteed Distribution 1,125,095.11 Credit Enhancement Premium 86,149.22 Liquidation Loss Amount (Current Period) 0.00 Liquidation Loss Amount (Cumulative) 0.00 Monthly Delinquency Rate 0.0718% Rolling Six Month Delinquency Rate 0.0354% Has a Rapid Amortization Event occurred? NO Cause of Rapid Amortization Event. NA Has an Event of Servicing Termination occurred? NO Cause of Event of Servicing Termination. NA 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. CWABS, INC. By: /s/ Barbara Grosse Name: Barbara Grosse Title: Vice President Bank One Date 6/17/02