8-K 1 august.txt COUNTRYWIDE 2002-A, 8K, AUG 2002 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): 15-Aug-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 15-Aug-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 15-Aug-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 15-Aug-02 COUNTRYWIDE HOME EQUITY LOAN TRUST REVOLVING ASSET BACKED PASS-THROUGH CERTIFICATES SERIES 2002-A STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 15-Aug-02 Beginning Certificate Class Balance(1) Principal Interest A 565,449,421.85 11,488,169.3 1,021,912.39 A-IO 565,449,421.85 0.00 1,366,463.67 Ending Certificate Class Cusip Losses Balance A 126671 PB6 0.00 553,961,252.48 A-IO 126671 PD2 0.00 553,961,252.48 AMOUNTS PER $1,000 UNIT Class Principal Interest Total A 19.14694895 1.70318732 20.85013627 A-IO 0.00000000 2.27743945 2.27743945 Ending Current Certificate Pass-Through Class Balance Losses Interest Rate A 923.26875413 0.00 2.09875% A-IO 923.26875413 0.00 2.85676% Investor Certificate Rates based on a LIBOR of: 1.83875% Distribution Date: 15-Aug-02 Distribution Statement Sale and Servicing Agreement dated Feb 28, 2002 (i) Investor Floating Allocation Percentage 100.00000% (ii)Class A aggregate amount 12,510,081.76 Class A-IO aggregate amount 1,366,463.67 (iiiClass A Interest 1,021,912.39 Class A-IO Interest 1,366,463.67 (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 Shortfal 0.00 Class A-IO Remaining Unpaid Investor Interest Short 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 11,488,169.37 Guaranteed Principal Distribution Amount 0.00 0.00 Total Principal Distributed 11,488,169.37 (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 235,603.93 (xiiNote Principal Balance (before distributions) 565,449,421.85 Note Principal Balance (after distributions) 553,961,252.48 Factor (before distributions) 0.9424157 Factor (after distributions) 0.9232688 (xiiLoan Balance of Mortgage Loans 553,961,252.48 (xivCredit Enhancement Draw Amount 0.00 (xv)Delinquency Information Count Balance % of Group Bal 30-59 days 46 1,468,711.83 0.265129% 60-89 days 16 354,368.25 0.063970% 90 or more days 15 573,324.21 0.103495% Total 77 2,396,404.29 0.432594% *Note: The above statistics do not include loans in foreclosure proceedings or REO properties. (xviForeclosure and REO Information Count Balance % of Group Bal Foreclosure 2 64,677.00 0.011675% REO 0 0.00 0.000000% Total 2 64,677.00 0.011675% (xviOptional Servicer Advances (Current Collection Peri 0.00 Optional Servicer Advances (Outstanding) 0.00 (xviClass A Note Rate 2.09875% Class A-IO Note Rate 2.85676% (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 Mortgage Loans Payment Summary Interest Received 3,233,719.67 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 Interes 0.00 Purchase Price (90+ Day Delinq) (Allocable to Interest) 0.00 Residual Advance 0.00 Total Interest 3,233,719.67 Investor Interest Collections 2,471,470.25 Begining Balance 565,449,421.85 Principal Collections 22,653,232.79 Net Liquidation Proceeds (Alloc. to Principal) 0.00 Insurance Proceeds (Alloc. to Principal) 0.00 Purchase Price per Sect. 2.02 (a) (Alloc. to Principal) 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 22,653,232.79 Additional Balances 11,165,063.42 Ending Principal Balance 553,961,252.48 Total Collections 25,124,703.04 Alternative Principal Payment 11,488,169.37 Loans Average Daily Balance 567,948,684.79 Weighted Average Loan Rate 6.753155% Weighted Average Net Loan Rate 4.955505% Maximum Rate 4.887622% Loan Modification Summary Current Loans with Senior Lien Balance Modification (CLTV<80%) 246,416.39 Loans with Senior Lien Balance Modification (CLTV>80%) 461,147.11 Loans with Credit Limit Modification 273,700.00 Loans with Gross Margin Modification 922,833.50 Credit Enhancer Information Amount due to Credit Enhancer from Prepayment Shortfall 0.00 FGIC Surety Bond in force? YES Credit Enhancement Draw Amount 0.00 Guaranteed Principal Payment Amount 0.00 Guaranteed Distribution 1,021,912.39 Credit Enhancement Premium 83,094.19 Liquidation Loss Amount (Current Period) 0.00 Liquidation Loss Amount (Cumulative) 21,810.91 Monthly Delinquency Rate 0.1755% Rolling Six Month Delinquency Rate 0.0841% 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 8/15/2002