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 Exchange 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.


















On May 15, 2001, Fleet Home Equity Loan Trust 2001-1 was created pursuant to a Trust Agreement between the depositor (Fleet Home Equity Loan, LLC) and the owner Trustee, Wilmington Trust Company.  On May 30, 2001 the Trust issued securities  referred to as Fleet Home Equity Loan Asset-Backed Notes,  Series 2001-1.




There are no material pending legal proceedings with respect to the Trust, involving either the Trust, the Trustee or theRegistrant, other than ordinary or routine litigation incidental to the Trustee's or the Registrant's duties under the Sale andServicing Agreement.




















(b) At February 28, 2002 there were 14 holders of record of the Fleet Home Equity Loan Asset-Backed Notes, Series 2001-1.  (1) The effective date of the Registration Statement for which the use of proceeds information is disclosed herein is February1, 2001 (such Registration Statement was amended by that certain post-effective amendment, the effective date of which isMay 2, 2001).  The Commission file number assigned to such Registration Statement is 333-53662.  (2) The offering commenced on May 30, 2001.  (3) The offering has terminated.
















(iv)  the aggregate amount of such securities registered was $747,195,000; the aggregate price of the offeringamount of such securities registered was $747,195,000; the amount of such securities registered sold was$747,195,000 and the aggregate offering price of the amount of such securities sold to date is $747,195,000;


(v)  the underwriting discount incurred in connection with the issuance and distribution of the securities offeredwas 0.275% and 	expenses estimated in connection with the issuance and distribution of the securities offeredaggregated  $840,000; (a) no payment of such underwriting discount or estimated expenses was made to adirector, officer, general partner of the issuer or their 	associates, or to persons owning ten percent or more of anyclass of equity securities of the issuer or to affiliates of the issuer; (b)the net offering proceeds to the issuer afterdeducting the aforementioned underwriting discount and expenses was $744,300,214; and


(vi) the net proceeds of the offering to the issuer were used to acquire a pool of adjustable rate home equity lineof credit loans and property relating to those loans, which loans and related property were used to secure theobligations under the securities registered.


























Original Dollar amount ofCertificates Held (in $1,000's)




Citibank, N.A. 3800 Citibank Center B3-15 Tampa, FL  33610






FUNB - Phila. Main 123 South Broad Street Philadelphia, PA  19109






HSBC Bank USA / TreasuryInvestment 140 Broadway - Level A New York, NY  10015






Investors Bank & Trust Co. 200 Clarendon St, 9th Floor Boston, MA  02116






JPMorgan Chase Bank 14201 Dallas Pkwy, 12th Fl Mail Code 121 Dallas, TX  75254










(a) Supplementary Trust Data relating to performance of the Trust is being filed herewith as Exhibit 99. (b)  Reports on Form 8-K The registrant has filed Current reports on form 8-K with the Securities and Exchange Commission dated  July 20,2001 through  January 20, 2002. (c)  Exhibits  Exhibit No.					Description of Exhibit 24					Power of Attorney (Included on signature page) 99					Supplementary Trust Data








Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Commission Act of 1934, the registrant has duly caused the report to be signed on its behalf by the undersigned, thereunto duly authorized.






By:  _____________________ Jeffrey A. Lipson Director


KNOW ALL MEN BY THESE PRESENTS, that the undersigned does hereby constitute and appoint Jeffrey A Lipson, his or her true and lawful attorney-in-fact and agent, with full power of subsitution, for him or her and on his or her behalf to sign, execute and file an Annual Report on Form 10-K under the Securities Exchange Act of 1934, as amended, for the fiscal year ended December 31, 2001 relating to Fleet Home Equity Loan Trust 2001-1 and any or all amendments thereto, with all exhibits and any and all documents required to be filed with respect thereto, with the Securities and ExchangeCommission or any regulatory authority, granting unto such attorneys-in-fact and agents, on each of them, full power andauthority to do and perform each and every act and thing requisite and necessary to be done in and about the premises in or to effectuate the same as fully all intents and purposes as her or she might or could do if personally present, hereby ratifying and confirming all that such attorneys-in-fact and agents, or any of them, or their substitute or substitutes, may lawfully do or cause to be done.


Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons onbehalf of Fleet Home Equity Loan, LLC as servicer of the Fleet Home Equity Loan Trust 2001-1 and in the capacities indicatedon the 26th day of March 2002.


Signature  ___________________________ Jeffrey A. Lipson


Title  Director


___________________________ John Rodehorst


Director


___________________________ Sherri Jonas


Director


Independent Director


___________________________ Dean A. Christiansen


Director


___________________________ Nancy O'Connor


___________________________ Benjamin Abedine


Independent Director
















































Exhibit Number24 99


Description of Exhibit Power of Attorney (Included on signature page) Supplementary Trust Data


Sequential Page Number4 5














































Principal Balance


# of Accounts