-----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, UDQzPXHkCEu3RTS2rBa+sfQM13Uhh5qvzXu+6B+rwGIbB5PeXBcj6wTaP1UWqazm pTrcrcUIY1rploSA1QaTkw== 0001019965-02-000146.txt : 20020415 0001019965-02-000146.hdr.sgml : 20020415 ACCESSION NUMBER: 0001019965-02-000146 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20011231 FILED AS OF DATE: 20020327 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: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-56213 FILM NUMBER: 02588296 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 10-K 1 cbass012_10k.txt CBASS 01-CB2, 10K, 2001 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Mark One) [ x] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended DECEMBER 31, 2001 __________________ or [ ] Transition Report Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934 For the transition period from _____________ to ________ Commission file Number 333-45458 ACE Securities Corp. (Exact name of registrant as specified in its charter) Delaware 56-2088493 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 6525 Morrison Boulevard Suite 318 Charlotte, NC 28211 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code:(704) 365-0569 Securities registered pursuant to Section 12(b) of the Act NONE Securities registered pursuant to Section 12(g) of the Act Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. X - Yes No PART I Item 2. Properties Not applicable on reliance of Relief Letters Item 3. Legal Proceedings There were no legal proceedings. Item 4. Submission of Matters to a Vote of Security Holders There were no matters submitted to a vote of the Security Holders. PART II Item 5. Market for Registrant's Common Equity and Related Stockholder matters There were Thirty-three participants in the DTC system holding positions in the Cede certificates. The following were Noteholders and Certificateholders of record as of the end of the reporting year. C-Bass Mortgage Loan Asset Backed Certificates Series 2001-CB2 Class A-1F Cede & Co. Series 2001-CB2 Class A-2F Cede & Co. Series 2001-CB2 Class A-3F Cede & Co. Series 2001-CB2 Class A-1A Cede & Co. Series 2001-CB2 Class M-1 Cede & Co. Series 2001-CB2 Class M-2 Cede & Co. Series 2001-CB2 Class B-1 Cede & Co. Series 2001-CB2 Class B-2 Sigler & Co C-Bass II Escrow c/o The Chase Manhattan Bank 600 Travis Street, 50th Floor Houston, TX 77002-8039 Series 2001-CB2 Class N-1 German American Capital Corporation Deutsche Bank Securities Inc. Attn Richard Strazzulla 1290 6th Avenue, 6th Floor New York, NY 10019 Series 2001-CB2 Class N-2 Sigler & Co C-Bass c/o The Chase Manhattan Bank 600 Travis Street, 50th Floor Houston, TX 77002-8039 Series 2001-CB2 Class A-IO Cede & Co. Series 2001-CB2 Class X Credit Based Asset Servicing and Securitization LLC Attn: Joe Casectta 335 Madison Ave. 19th Floor New York, NY 10017 There is no established public trading market for the notes. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosu Information required by Item 304 of Reg. S-K. There were no changes in and/or disagreements with Accountants on Accounting and Financial Disclosures. PART IV Item 12. Security Ownership of Certain Beneficial Owners and Management The Notes are represented by one or more notes registered in the name of Cede & Co., the nominee of The Depository Trust Company. An investor holding Notes is not entitled to receive a certificate representing such Note, except in limited circumstances. Accordingly, Cede & Co. is the sole holder of Notes, which it holds on behalf of brokers, dealers, banks and other participants in the DTC system. Such participants may hold Notes for their own accounts or for the accounts of their customers. The address of Cede & Co. is: Cede & Co. c/o The Depository Trust Company Seven Hanover Square New York, New York 10004 Item 13. Certain Relationships and Related Transactions. There has not been, and there is not currently proposed, any transactions or series or transactions, to which any of the Trust, the Registrant, the Trustee or the Servicer is a party with any Noteholder who, to the knowledge of the Registrant and Servicer, owns of record or beneficially more than five percent of the Notes. Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K (a) 1. Not Applicable 2. Not Applicable 3. Exhibits 99.1 Annual Summary Statement 99.2 Annual Statement as to Compliance. 99.3 Annual Independent Public Accountant's Servicing Report. (b) Reports on Form 8-K The registrant has filed Current Reports on Form 8-K with the Securities and Exchange Commission dated: June 25, 2001; July 25, 2001; August 27, 2001; September 25, 2001 October 25, 2001; November 26, 2001; December 26, 2001 (c) See (a) 3 above (d) Not Applicable SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. C-Bass Mortgage Loan Asset Backed Certificates Series 2001-CB2 /s/ Sheryl Christopherson, Vice President US Bank Date: March 31, 2002 EXHIBIT INDEX Exhibit Number Description 99.1 Annual Summary Statement 99.2 Annual Statement of Compliance 99.3 Report of Independent Accountants EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year Amounts for the period ending December 31, 2001 C-Bass Mortgage Loan Asset Backed Certificates Series 2001-CB2 Summary of Aggregate Amounts or End of Year Amounts Pool Balance $171,591,993.69 Principal Collections $16,218,032.88 Realized Loss $30,884.48 Gross Interest Collections (1) $10,813,758.57 Servicer Fees $838,027.00 Trustee Fees $12,711.82 (1) Includes prepayment premiums if applicable. Deliquency Information Number Stated Principal Bal 30-59 days 210 $14,469,141.95 60-89 days 124 $8,578,243.72 90+ days 633 $43,748,666.70 Foreclosures 127 $11,482,298.32 Bankruptcies 352 $24,401,988.94 REO Properties 12 $675,811.87 Certificate Balance Interest Principal Class A-1F $33,687,401.17 $1,151,861.18 $7,660,598.83 Class A-2F $16,768,000.00 $584,336.83 $0.00 Class A-3F $24,794,000.00 $1,030,066.73 $0.00 Class A-1A $74,741,183.40 $1,473,684.29 $8,588,816.60 Class M-1 $6,574,000.00 $286,807.22 $0.00 Class M-2 $4,884,000.00 $224,985.53 $0.00 Class B-1 $3,757,000.00 $186,481.82 $0.00 Class B-2 $4,508,000.00 $236,026.47 $0.00 Class N-1 $1,295,617.13 $159,193.77 $3,829,382.88 Class N-2 $1,875,000.00 $87,500.00 $0.00 Class A-IO $50,000,000.00 $583,333.31 $0.00 Class X $2,000,000.00 $0.00 EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance To be supplied upon receipt by the Trustee EXHIBIT 99.3 -- Report of Independent Auditors To be supplied upon receipt by the Trustee -----END PRIVACY-ENHANCED MESSAGE-----