-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JFrBedtpav8Tn8Myx/EVQhBU27Urx2DWbBCH+/HdaQFD+8nQbhmwPmvwD45YJPsw y70BTtelwJ758j52kB0C0g== 0001019965-01-500162.txt : 20020410 0001019965-01-500162.hdr.sgml : 20020410 ACCESSION NUMBER: 0001019965-01-500162 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20011025 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACE SECURITIES CORP CENTRAL INDEX KEY: 0001063292 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 562088493 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-56213 FILM NUMBER: 1780578 BUSINESS ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7043650569 MAIL ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 8-K 1 cbass012_8k1001.txt 8K, OCTOBER 2001, CBASS 2001-CB2 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):25-Oct-2001 ACE Securities Corporation (AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT, DATED AS OF MAY 1, 2001, PROVIDING FOR THE ISSUANCE OF C-BASS MORTGAGE LOAN ASSET-BACKED CERTIFICATES SERIES 2001-CB2 ACE SECURITIES CORP. (Exact name of registrant as specified in its charter) Delaware 333-45458 56-2088493 (State or Other (Commission (I.R.S. Employer Jurisdiction of File Number) Identification Incorporation) Number) 6525 Morrison Boulevard Suite 318 Charlotte, NC 28211 (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code: 704-365-0569 Item 5. Other Events On 25-Oct-200a 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 25-Oct-200The 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 25-Oct-2001 C-BASS MORTGAGE LOAN ASSET BACKED CERTIFICATES SERIES 2001-CB2 STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 10/25/2001 Beginning Ending Certificate Certificate Class Cusip Balance(1) PrincipalInterest Losses Balance A-1F 12489WDF8 37,601,631.708,529.8 159,869.60 $0.00 $36,893,101.51 A-2F 12489WDG6 16,768,000. 0.00 83,476.69 $0.00 $16,768,000.00 A-3F 12489WDH4 24,794,000. 0.00 147,152.39 $0.00 $24,794,000.00 A-1A 12489WDJ0 77,478,796.549,631.5 190,549.41 $0.00 $76,929,164.67 M-1 12489WDK7 6,574,000.0 0.00 40,972.46 $0.00 $6,574,000.00 M-2 12489WDL5 4,884,000.0 0.00 32,140.79 $0.00 $4,884,000.00 B-1 12489WDM3 3,757,000.0 0.00 26,640.26 $0.00 $3,757,000.00 B-2 NA 4,508,000.0 0.00 33,732.31NA $4,508,000.00 N-1 NA 2,854,117.0508,353.9 19,027.45NA $2,345,763.12 N-2 NA 1,875,000.0 0.00 12,500.00NA $1,875,000.00 A-IO 12489WDE1 50,000,000. 0.00 83,333.33NA $50,000,000.00 X NA 2,000,000.0 0.00 0.00NA $2,000,000.00 R-3 NA 0.00 0.00 0.00NA $0.00 Total 176,365,4271,766,515 829,394.69 0.00175,107,266.18 AMOUNTS PER $1,000 UNIT Ending Current Certificate Pass-Through Class Principal Interest Total Balance Losses Interest Rate A-1F 17.1357712 3.8664409421.002212892.2584287 0.00000000 5.10200% A-2F 0.00000000 4.978333134.97833311000.000000 0.00000000 5.97400% A-3F 0.00000000 5.935000005.93500001000.000000 0.00000000 7.12200% A-1A 6.59584183 2.286684398.8825262923.1869035 0.00000000 2.95125% M-1 0.00000000 6.232500766.23250071000.000000 0.00000000 7.47900% M-2 0.00000000 6.580833336.58083331000.000000 0.00000000 7.89700% B-1 0.00000000 7.090833117.09083311000.000000 0.00000000 8.50900% B-2 0.00000000 7.482766197.48276611000.000000 0.00000000 8.97932% N-1 99.191019 3.71267317102.90369457.7098764 0.00000000 8.00000% N-2 0.00000000 6.666666676.66666661000.000000 0.00000000 8.00000% A-IO 0.00000000 1.666666601.66666661000.000000 0.00000000 2.00000% X 0.00000000 0.000000000.00000001000.000000 0.00000000 9.00000% R-3 0.00000000 0.000000000.0000000 0.00000000 0.00000000 0.00000% Distribution Date:25-Oct-2001 Distribution Statement Pooling and Servicing Agreement Dated May 1, 2000 i) Distributions to the Holders See Page 1 ii) Class X Distribution Amount See Page 1 iii) Overcollateralization Amount (before distri$1,878,409.11 Overcollateralization Release Amount $0.00 Overcollateralization Deficiency (after dis $0.01 Overcollateralization Target Amount $1,878,409.11 Overcollateralization Amount (after distrib$1,878,409.11 Amount of Excess Interest $533,644.22 Amount of Excess Cashflow $533,644.22 Group 1A Group 1B Group 2 iv) Servicing FeesServicing F $8,024 $32,768 $32,283 Accrued and $0 $0 $0 Special Ser $10,350 $29,850 $15,150 PMI Premium $0 $21,935 $21,823 v) Advances $597,883.71 vi) Begining Pool Princip$19,256,5$81,507,593$77,479,655 Ending Pool Principal$19,229,5$80,826,101$76,930,023 Ending Loan Count 711 vii) Wt'd avg Rem term of the Mortg Weighted average Mortage Rate 8.3724% 10.2997% 10.8702% viii) Delinquency And Foreclosure Information: All Categories Bankruptcy Group 1A Number Balance Number Balance Current 3,49 - 30 days De 8 215,986 60 days de 1,51 925,499 90 days de 7 255,407 120+ days 12,586 9,640,845 Foreclosure Number Balance Current - 30 days De - 60 days de - 90 days de - 120+ days 561,435 Group 1B All Categories Bankruptcy Number Balance Number Balance Current 54,794 - 30 days De 6,10 134,793 60 days de 4,77 580,281 90 days de 2,15 401,740 120+ days 12,998 7,543,273 Foreclosure Number Balance Current - 30 days De - 60 days de 84,317 90 days de 529,696 120+ days 1,616,667 Group 2 All Categories Bankruptcy Number Balance Number Balance Current 52,531 - 30 days De 7,59 192,725 60 days de 3,17 398,437 90 days de 3,34 431,134 120+ days 10,191 4,359,104 Foreclosure Number Balance Current - 30 days De - 60 days de 179,091 90 days de 1,526,231 120+ days 3,414,261 ix) Loans that became REO properties (see page 5) x) Total Book Value of REO Properties: (see page 5) Group 1A Group 1B Group 2 xi) Prepayment 5 512,391 xii) Current Period Prepayment Pena 6,237 Aggregate Prepayment Penalties 139,721 Prepayment Penalties allocable 0 xiii) Aggregate Realized Losses incu 0 0 0 Cumulative Realized Losses 0 0 0 xiv) Realized Loss Allocations See Page 1 xv) Accrued Certificate Interest See Page 1 xvi) Prepayment Interest Shortfall and Class Carryover Shortfall Class Carryover PPIS Shortfall A-1F 0 0 A-2F 0 0 A-3F 0 0 A-1A 0 0 M-1 0 0 M-2 0 0 B-1 0 0 B-2 0 0 N-1 0 0 N-2 0 0 A-IO 0 0 X 0 0 0 0 xvii) Reserved xviii) Reserved Group 1A Group 1B Group 2 xix) Trustee Fees 192.57 815.08 774.80 xx) Reserve Fund Beginning Balance 5000.00 LIBOR Carryover Fund 0.00 LIBOR Carryover dist 0.00 LIBOR Carryover owed 0.00 Ending Balance 5000.00 xxii) Trigger Event Occurrence YES Cumulative Loss Percentage of 0.00 xxiii) Balance of 60+ Day Del. Loans as a % of O 0.193685 xxiv) Balance of Re-Performing 60+ Day Del. Loa 0.097182 xxv) Available Funds Group 1A Group 1B Group 2 Scheduled Interest Ne 126,33 615,2 647,025.19 Scheduled Principal 27,0 102,2 37,240.84 Unscheduled Principal 579,2 512,390.66 Available F 153,37 1,296,77 1,196,656.69 xxvi) Offered Certificates Pass-Through Rates See Page 1 xxvii) Liquidation Report See Page 6 xxviii) Mortgage Loans Purchased by Servicer xxix) Mortgage Loans Re-Purchased by Servicer Libor Information Original Current PerNext Period Class A-1V 6.9513% 2.9512% 2.7100% LIBOR 6.6413% 2.6613% 2.4200% ACE SECURITIES CORP. By: /s/ Sheryl Christopherson Name: Sheryl Christopherson Title: Vice President Dated: 10/25/2001 -----END PRIVACY-ENHANCED MESSAGE-----