UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-K
(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  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM  ___________________ TO
     __________________.

Commission file number 333-53404

                              EQUITY ONE ABS, INC.
                              --------------------
    (as depositor under a certain Pooling and Servicing Agreement dated as of
                 October 31, 2001, providing for the issuance of
               Mortgage Pass-Through Certificates, Series 2001-3)
             (Exact name of registrant as specified in its charter)

            Delaware                                      52-2029487
            --------                                      ----------
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
incorporation or organization)

103 Springer Building, 3411 Silverside Road, Wilmington, Delaware       19803
-----------------------------------------------------------------       -----
    (Address of principal executive offices)                          (Zip Code)

Registrant's telephone number, including area code:  (302) 478-6160

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

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. Yes X  No *
                                      ---   ---

* The closing date for the transaction was November 16, 2001.

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]

Not applicable

State the aggregate market value of the voting and non-voting common equity held
by  non-affiliates  of the  registrant.  The  aggregate  market  value  shall be
computed by reference to the price at which the common  equity was sold,  or the
average bid and asked  prices of such  common  equity,  as of a  specified  date
within 60 days prior to the date of filing.

Not applicable

Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.

Not applicable
<PAGE>

This Annual Report on Form 10-K is filed by Equity One ABS, Inc. (the "Reporting
Person") on behalf of Equity One ABS, Inc. Mortgage  Pass-Through  Certificates,
Series 2001-3 Trust (the "Trust")  established  pursuant to that certain Pooling
and Servicing  Agreement  (the "Pooling and  Servicing  Agreement")  dated as of
October 31, 2001 by and among the Reporting  Person,  as depositor,  Equity One,
Inc., as servicer and a seller (the "Servicer"), JPMorgan Chase Bank, as trustee
(the "Trustee"),  and the various other sellers signatory  thereto,  pursuant to
which the Equity One ABS, Inc. Mortgage Pass-Through Certificates, Series 2001-3
(the "Certificates"), were registered under the Securities Act of 1933.


                                     PART I

ITEM 1. BUSINESS

Omitted pursuant to First Union Residential Securitization  Transactions,  Inc.,
SEC No-Action Letter (April 1, 1997) (the "No-Action Letter").

ITEM 2. PROPERTIES

As of December 31, 2001, the Trust owned no real estate.

ITEM 3. LEGAL PROCEEDINGS

The Reporting  Person knows of no material pending legal  proceedings  involving
the Trust or the  Trustee,  the Servicer or the  registrant  with respect to the
Trust, other than routine litigation  incidental to the duties of the respective
parties under the Pooling and Servicing Agreement.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

                                       2
<PAGE>

                                     PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

(a)  No established public trading market for the Certificates exists.

(b)  As of December  31,  2001,  the number of holders of record of the publicly
     offered Certificates was 17.

(c)  Omitted pursuant to the No-Action Letter.

ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA

Omitted pursuant to the No-Action Letter.

ITEM 7. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Omitted pursuant to the No-Action Letter.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Not Applicable.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Omitted pursuant to the No-Action Letter.

ITEM  9.  CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
FINANCIAL DISCLOSURE.

None.

                                       3


<PAGE>

                                    PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Omitted pursuant to the No-Action Letter.

ITEM 11. EXECUTIVE COMPENSATION

Omitted pursuant to the No-Action Letter.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

(a)  None.

(b)  Not applicable.

(c)  Not applicable.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

(a)  Not applicable.

(b)  Not applicable.

(c)  None.

(d)  None.

                                       4

<PAGE>

                                    PART IV

Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)  Exhibits

     99.1 Annual Independent  Accountants' Servicing Report concerning servicing
          activities   under  the  Pooling  and  Servicing   Agreement  for  the
          Servicer's fiscal year ended November 30, 2001, in accordance with the
          No-Action Letter.

     99.2 Annual  Statement  of  Compliance  under  the  Pooling  and  Servicing
          Agreement for the  Servicer's  fiscal year ended November 30, 2001, in
          accordance with the No-Action Letter.

     99.3 Aggregate  Statement  of  Principal  and  Interest   Distributions  to
          Certificateholders.

(b)  On or about  December  28, 2001, a report on Form 8-K was filed in order to
     provide the Monthly  Statement to  Certificateholders  for the December 26,
     2001 distribution date.

     No other reports on Form 8-K have been filed during the last quarter of the
     period covered by this report.

(c)  Not applicable.

(d)  Omitted pursuant to the No-Action Letter.


                                       5
<PAGE>

                                   SIGNATURES

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

                              EQUITY ONE ABS, INC.




Date: March 20, 2002          By: /s/ James H. Jenkins
                                 ---------------------------------------------
                                 James H. Jenkins, Senior Vice President and CFO





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

(a)(1) No annual  report is provided to the  Certificateholders  other than with
       respect to aggregate principal and interest distributions.

(a)(2) No proxy statement,  form of proxy or other proxy soliciting material has
       been sent to any  Certificateholder with  respect to any  annual or other
       meeting of Certificateholders.




                                       6
<PAGE>

                                INDEX TO EXHIBITS


Exhibit
Number                           Description
------                           -----------

99.1 Annual  Independent  Accountants'  Servicing  Report  concerning  servicing
     activities  under the Pooling and Servicing  Agreement  for the  Servicer's
     fiscal year ended  November  30, 2001,  in  accordance  with the  No-Action
     Letter.

99.2 Annual  Statement of Compliance  under the Pooling and Servicing  Agreement
     for the Servicer's  fiscal year ended November 30, 2001, in accordance with
     the No-Action Letter.

99.3 Aggregate   Statement  of   Principal   and   Interest   Distributions   to
     Certificateholders.



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