Item 1. Business.
Not applicable. See the Relief Letters.
Item 1A.
Item 1A. Risk Factors.
Not applicable.
Item 1B.
Item 1B. Unresolved Staff Comments.
None.
Item 2.
Item 2. Properties.
Not applicable. See the Relief Letters.
Item 3.
Item 3. Legal Proceedings.
There were no material pending legal proceedings relating to the Trust Fund to which any of the Trust Fund, the Trustee, the Master Servicer or the Company was a party or of which any of their respective properties was the subject during the fiscal year covered by this Report other than ordinary routine litigation incidental to the duties of the Trust Fund, the Trustee, the Master Servicer or the Company, nor is the Company aware of any such proceedings contemplated by governmental authorities.
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders.
No matter was submitted to a vote of Certificateholders, and no Certificateholder consent was solicited during the fiscal year covered by this Report.
PART II
Item 5.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
(a) Item 201 of Regulation S-K:
i. Market Information. There is no established public trading market for the Certificates.
ii. Holders. As of December 31, 2005 there were less than 300 holders of record of the Certificates.
iii. Dividends. Not applicable. See the Relief Letters. (Information as to distributions to Certificateholders is provided in the Registrant's monthly filings on Form 8-K.)
iv. Securities Authorized for Issuance Under Equity Compensation Plans. Not applicable.
Item 701 of Regulation S-K. Not applicable.
(b) Rule 463 of the Securities Act of 1933. Not applicable.
(c) Item 703 of Regulation S-K. Not applicable as the Registrant has no class of equity securities registered pursuant to section 12 of the Securities Exchange Act of 1934.
Item 6.
Item 6. Selected Financial Data.
Not applicable. See the Relief Letters.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation.
Not applicable. See the Relief Letters.
Item 7A
Item 7A Quantitative and Qualitative Disclosures about Market Risk.
Not applicable.
Item 8.
Item 8. Financial Statements and Supplementary Data.
Not applicable. See the Relief Letters.
Item 9.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
None.
Item 9A.
Item 9A. Controls and Procedures.
Not applicable.
Item 9B.
Item 9B. Other Information.
None.
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant.
Not applicable. See the Relief Letters.
Item 11.
Item 11. Executive Compensation.
Not applicable. See the Relief Letters.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners, Management and Related Stockholder Matters.
Information required by Item 201(d) of Regulation S-K: Not applicable.
Information required by Item 403 of Regulation S-K:
(a) Not applicable. See the Relief Letters.
(b) Not applicable. See the Relief Letters.
(c) Not applicable. See the Relief Letters.
Item 13.
Item 13. Certain Relationships and Related Transactions.
Not applicable. See the Relief Letters.
Item 14.
Item 14. Principal Accounting Fees and Services.
Not applicable.
PART IV
Item 15.
Item 15. Exhibits and Financial Statement Schedules.
(a) (1) Pursuant to the Pooling and Servicing Agreement, the Master Servicer is required (i) to deliver an annual statement as to compliance with the provisions of the Pooling and Servicing Agreement and certain other matters (the "Annual Statement of the Master Servicer") and (ii) to cause a firm of independent public accountants to deliver an annual report as to compliance with the servicing provisions of the Pooling and Servicing Agreement (the "Annual Report of the Firm of Accountants"). The Annual Statement of the Master Servicer is attached as Exhibit 99.1 to this Report. The Annual Report of the Firm of Accountants is attached as Exhibit 99.2 to this Report. See Relief Letters.
(2) Not applicable.
(3) The required exhibits are as follows:
o Exhibit 3(i): Copy of Company's Certificate of Incorporation (Filed as an Exhibit to Registration Statement on Form S-3 (File No. 33-11095)).
o Exhibit 3(ii): Copy of Company's By-laws (Filed as an Exhibit to Registration Statement on Form S-3 (File No. 33-11095)).
o Exhibit 4: Pooling and Servicing Agreement (Filed as part of the Registrant's Current Report on Form 8-K filed on July 15, 2005).
o Exhibit 31: Rule 15d-14(a) Certification.
o Exhibit 99.1: Annual Statement of the Master Servicer.
o Exhibit 99.2: Annual Report of the Firm of Accountants.
(b) See subparagraph (a)(3) above.
(c) Not applicable. See the Relief Letters.
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.
CWABS, INC., ASSET-BACKED CERTIFICATES TRUST 2005-BC3, ASSET-BACKED CERTIFICATES, SERIES 2005-BC3
By: Countrywide Home Loans Servicing LP, as Master Servicer*
By: Countrywide GP, Inc.
By: /s/ Craig Baingo ------------------------------- Name: Craig Baingo Title: Executive Vice President
Date: March 27, 2006
__________
* This Report is being filed by the Master Servicer on behalf of the Trust Fund. The Trust Fund does not have any officers or directors.
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
No such annual report, proxy statement, form of proxy or other soliciting material has been, or will be, sent to Certificateholders. See the Relief Letters.
EXHIBIT INDEX
Exhibit Document - ------- --------
3(i) Company's Certificate of Incorporation (Filed as an Exhibit to Registration Statement on Form S-3 (File No. 33-11095))*
3(ii) Company's By-laws (Filed as an Exhibit to Registration Statement on Form S-3 (File No. 33-11095))*
4 Pooling and Servicing Agreement (Filed as part of the Company's Current Report on Form 8-K filed on July 15, 2005)*
31 Rule 15d-14(a) Certification
99.1 Annual Statement of the Master Servicer
99.2 Annual Report of the Firm of Accountants
_______________
* Incorporated herein by reference.