Commission
File Number of the issuing entity: 333-135846-22
CWABS,
Inc.
(Exact
name of the depositor as specified in its charter)
Commission
File Number of the depositor: 333-135846
Countrywide
Home Loans, Inc.
(Exact
name of the sponsor as specified in its charter)
Delaware
95-4596514
(State
or Other Jurisdiction of Incorporation of the
depositor)
(I.R.S.
Employer Identification No. of the depositor)
4500
Park Granada, Calabasas, California
91302
(Address
of Principal Executive Offices of the depositor)
(Zip
Code)
The
depositor’s telephone number, including area code (818)
225-3237
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any following
provisions:
[
]
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
]
Soliciting
material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
240.14a-12(b))
[ ]
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
[ ]
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
Section
8. Other Events.
Item
8.01. Other Events.
On
March30, 2007, CWABS, Inc. (the “Company”) entered into a Pooling and Servicing
Agreement (the “Pooling and Servicing Agreement”) dated as of March 1, 2007, by
and among the Company, as depositor, Countrywide Home Loans, Inc. (“CHL”), as a
seller, Park Monaco Inc., as a seller, Park Sienna LLC, as a seller, Countrywide
Home Loans Servicing LP, as master servicer, The Bank of New York, as trustee
(the “Trustee”), and The Bank of New York Trust Company, N.A., as co-trustee,
providing for the issuance of the Company’s Asset-Backed Certificates, Series
2007-5 (the “Certificates”). The Certificates were issued on March30, 2007. Capitalized terms used but not otherwise defined herein
shall have the respective meanings assigned to them in the Pooling and Servicing
Agreement.
The
tables annexed as Exhibit 99.1 hereto describe characteristics of the Initial
Mortgage Loans as of the Initial Cut-off Date. All percentages set
forth below have been calculated based on the principal balance of the Initial
Mortgage Loans as of the Initial Cut-off Date. The sum of the columns
may not equal the respective totals due to rounding.
On
March 30, 2007, CHL entered into an
interest rate swap contract (the “Swap Contract”), dated as of March 30, 2007,
as evidenced by a Confirmation (the “Swap Contract Confirmation”) between CHL
and Deutsche Bank AG, New York Branch (the “Swap Counterparty”). The
Swap Contract Confirmation is annexed hereto as Exhibit 99.2.
On
March30, 2007, the Swap Counterparty and the Trustee, in its capacity as the Swap
Contract Administrator and as the Corridor Contract Administrator, each as
defined below, entered into an ISDA Master Agreement (the “ISDA Master
Agreement”), dated as of March 30, 2007. The ISDA Master Agreement is
annexed hereto as Exhibit 99.3.
On
March30, 2007, the Swap Counterparty and the Trustee, in its capacity as the Swap
Contract Administrator and as the Corridor Contract Administrator, entered
into
a schedule to the ISDA Master Agreement (the “Schedule”), dated as of March 30,2007. The Schedule is annexed hereto as Exhibit 99.4.
On
March30, 2007, the Swap Counterparty and the Trustee, in its capacity as the Swap
Contract Administrator and as the Corridor Contract Administrator, entered
into
an ISDA Credit Support Annex (the “Credit Support Annex”), dated as of March 30,2007. The Credit Support Annex is annexed hereto as Exhibit
99.5.
On
March 30, 2007, CHL entered into a
Swap Contract Assignment Agreement (the “Swap Contract Assignment Agreement”),
dated as of March 30, 2007, by and among CHL, The Bank of New York, as Swap
Contract Administrator for the Trust and the Swap Counterparty, pursuant to
which CHL assigned all of its rights and delegated all of its duties and
obligations under the Swap Contract to the Swap Contract
Administrator. The Swap Contract Assignment Agreement is annexed
hereto as Exhibit 99.6.
2
On
March30, 2007, CHL entered into a Swap Contract Administration Agreement (the “Swap
Contract Administration Agreement”), dated as of March 30, 2007, by and among
CHL and The Bank of New York, as Swap Contract Administrator (in such capacity,
the “Swap Contract Administrator”) and as Trustee, under the Pooling and
Servicing Agreement. The Swap Contract Administration Agreement is
annexed hereto as Exhibit 99.7.
On
March30, 2007, CHL entered into an interest rate corridor contract with respect
to
the Class 1-A Certificates (the “Class 1-A Corridor Contract”), dated as of
March 30, 2007, as evidenced by a Confirmation (the “Class 1-A Corridor Contract
Confirmation”) between CHL and Deutsche Bank AG, New York Branch (the “Corridor
Contract Counterparty”). The Class 1-A Corridor Contract Confirmation
is annexed hereto as Exhibit 99.8.
On
March30, 2007, CHL entered into an interest rate corridor contract with respect
to
the Class 2-A Certificates (the “Class 2-A Corridor Contract”), dated as of
March 30, 2007, as evidenced by a Confirmation (the “Class 2-A Corridor Contract
Confirmation”) between CHL and the Corridor Contract
Counterparty. The Class 2-A Corridor Contract Confirmation is annexed
hereto as Exhibit 99.9.
On
March30, 2007, CHL entered into an interest rate corridor contract with respect
to
the Subordinate Certificates (the “Subordinate Corridor Contract”), dated as of
March 30, 2007, as evidenced by a Confirmation (the “Subordinate Corridor
Contract Confirmation”) between CHL and the Corridor Contract
Counterparty. The Subordinate Corridor Contract Confirmation is
annexed hereto as Exhibit 99.10.
On
March30, 2007, CHL entered into a Corridor Contract Assignment Agreement (the
“Corridor Contract Assignment Agreement”), dated as of March 30, 2007, by and
among CHL, The Bank of New York, as Corridor Contract Administrator for the
Trust and the Corridor Counterparty, pursuant to which CHL assigned all of
its
rights and delegated all of its duties and obligations under the Class 1-A
Corridor Contract, the Class 2-A Corridor Contract and the Subordinate Corridor
Contract to the Corridor Contract Administrator. The Corridor
Contract Assignment Agreement is annexed hereto as Exhibit 99.11.
On
March30, 2007, CHL entered into a Corridor Contract Administration Agreement (the
“Corridor Contract Administration Agreement”), dated as of March 30, 2007, by
and among CHL and The Bank of New York, as Corridor Contract Administrator
(in
such capacity, the “Corridor Contract Administrator”) and as Trustee, under the
Pooling and Servicing Agreement. The Corridor Contract Administration
Agreement is annexed hereto as Exhibit 99.12.
On
March30, 2007, the Company obtained a mortgage insurance policy issued by United
Guaranty Mortgage Indemnity Company covering certain of the Mortgage
Loans. The mortgage insurance policy and the related endorsements
(collectively, the “United Guaranty Mortgage Insurance Policy”) are annexed
hereto as Exhibit 99.13.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the depositor has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
