8-K 1 sepcw02d.txt COUNTRYWIDE 2002-D, 8K, SEP 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): 16-Sep-02 CWABS, INC. (AS DEPOSITOR UNDER THE SALE AND SERVICING AGREEMENT, DATED AS OF MARCH 27, 2002, PROVIDING FOR THE ISSUANCE OF REVOLVING HOME EQUITY LOAN ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES 2002-D) 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 16-Sep-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 16-Sep-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 16-Sep-02 COUNTRYWIDE HOME EQUITY LOAN TRUST REVOLVING ASSET BACKED PASS-THROUGH CERTIFICATES SERIES 2002-D STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 16-Sep-02 Beginning Certificate Class Balance(1) Principal Interest Note 1,485,442,261.66 14,511,989.05 2,667,194.11 Ending Certificate Class Cusip Losses Balance Note 126671QZ2 0.00 1,470,930,272.61 AMOUNTS PER $1,000 UNIT Class Principal Interest Total Note 9.67465937 1.77812941 11.45278877 Ending Certificate Current Pass-Through Class Balance Losses Interest Rate Note 980.62018174 0.00 2.020000% Investor Certificate Rates based on a LIBOR of: 1.78000% Distribution Date: 16-Sep-02 Distribution Statement Sale and Servicing Agreement dated June 28, 2002 (i) Investor Floating Allocation Percentage 100.00000% (ii) Investor Distribution Amount 17,179,183.16 (iii) Note Interest 2,667,194.11 Note Interest not payable, due to insufficient Investor Interest Collecti 0.00 (iv) Unpaid Investor Interest Shortfall paid 0.00 Per $1000 of Original Investor Principal Balance 0.000000 (v) RemainingRemaining Unpaid Investor Interest Sho 0.00 Per $1000 ofPer $1000 of Original Investor Princip 0.0000000 (vi), (vii) Principal Distributed Investor Loss Amount paid as principal 0.00 Investor Loss Reduction Amounts paid as principal 0.00 Accelerated Principal Distribution Amount 1,708,122.00 Scheduled Principal Collections Payment Amount 12,803,867.05 Guaranteed Principal Distribution Amount 0.00 Total Principal Distributed 14,511,989.05 (viii) Unreimbursed Investor Loss Reduction Amounts 0.00 Per $1000 of Original Investor Principal Balance 0.0000000 (ix) Basis Risk Carryforward Distributed 0.00 (x) Basis Risk Carryforward Remaining 0.00 (xi) Servicing Fee 609,693.26 Accrued and Unpaid Servicing Fees from Prior Perio 0.00 (xii) Invested Amount (before distributions) 1,485,442,261.66 Invested Amount (after distributions) 1,470,930,272.61 Investor Certificate Principal Balance (after dist1,470,930,272.61 Loan Factor 0.0000000 (xiii) Asset Balance of Mortgage Loans 1,450,459,958.79 (xiv) Credit Enhancement Draw Amount 0.00 (xv) Delinquency Information Count Balance % of Group Bal 30-59 days 76 2,905,523.61 0.200317% 60-89 days 14 366,823.94 0.025290% 90 or more days 7 167,450.00 0.011545% Total 97 3,439,797.55 0.237152% The above statistics do not include loans in foreclosure or REO properties. Bankruptcy 1 34,161.61 0.002355% (xvi) Foreclosure and REO Information Count Balance % of Group Bal Foreclosure 0 0.00 0.000000% REO 0 0.00 0.000000% Total 0 0.00 0.000000% (xvii) Optional Servicer Advances (Current Collection Period) 0.00 Optional Servicer Advances (Outstanding) 0.00 (xviii) Note Rate 2.020000% (xix) Loans retransferred to the Transferor pursuant to Sect. 2.04 and 2.06 Count 0 Principal Balance 0.00 (xx) Subordinated Transferor Collections 0.00 (xxi) Overcollateralization Step-Down Amount 0.00 (xxii) Available Transferor Subordinated Amount 0.00 Required Transferor Subordinated Amount 7,389,107.82 Interest Collections (non-Investor) 0.00 Transferor Principal Collections 0.00 (xxiii) Mortgage Loans for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date Number 0.00 Balance 0.00 Other information Transferor Principal Balance (Beginning) (22,178,435.82) Transferor Principal Balance (Ending) (20,470,313.82) Investor Fixed Allocation Percentage 100% Periods until Step-Down Remittance 29 Mortgage Loans Payment Summary Interest Received 5,132,102.37 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 Interest) 0.00 Purchase Price (90+ Day Delinq) (Allocable to Interest) 0.00 Residual Advance 0.00 Total Interest 5,132,102.37 Investor Interest Collections 4,522,409.11 Begining Balance 1,463,263,825.84 Principal Collections 50,699,546.71 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. 2.06 0.00 Transfer Deposit Amount per Sect. 2.02 (a) 0.00 Total Principal 50,699,546.71 Additional Balances 37,895,679.66 Ending Principal Balance 1,450,459,958.79 Total Collections 55,221,955.82 Alternative Principal Payment 12,803,867.05 Loans Average Daily Balance 1,470,654,915.80 Weighted Average Loan Rate 5.044526% Weighted Average Net Loan Rate 4.424526% Maximum Rate 4.363916% Excess Interest 0.00 Loan Modification Summary Current Cumulative Loans with Senior Lien Balance Modification (CLTV<8 1,106,406.04 1,552,145.42 Loans with Senior Lien Balance Modification (CLTV>8 1,321,560.95 1,394,015.84 Loans with Credit Limit Modification 573,250.00 643,250.00 Loans with Gross Margin Modification 101,730.17 257,730.17 Credit Enhancer Information Amount due to Credit Enhancer from Prepayment Shortfall 0.00 MBIA Surety Bond in force? YES Credit Enhancement Draw Amount 0.00 Guaranteed Principal Payment Amount 0.00 Guaranteed Distribution 2,667,194.11 Credit Enhancement Premium 147,093.00 Beginning O/C Amount 0.00 Ending O/C Amount 0.00 Ending O/C Amount (% of Original Pool Balance) 0.00% Liquidation Loss Amount (Current Period) 0.00 Liquidation Loss Amount (Cumulative) 0.00 Monthly Delinquency Rate 0.036512% Rolling Six Month Delinquency Rate 0.027455% Spread Rate 2.404526% Excess Spread Rate 2.404526% Required Subordinated Percentage 1.50% Balance used for Required Subordinated Amount Initial Balance Initial Subordinated Amount (22,178,435.82) Can Required Transferor Subordinated Amount be Reduced? NO 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 Dated: 9/16/02