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<TITLE>Form 8-K</TITLE>
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<DIV style="position:absolute;left:48PX;top:54PX;width:672PX;height:20PX;TEXT-ALIGN:CENTER;">SECURITIES AND EXCHANGE COMMISSION </DIV>

<DIV style="position:absolute;left:48PX;top:89PX;width:672PX;height:19PX;TEXT-ALIGN:CENTER;">WASHINGTON, D.C. 20549</DIV>

<DIV style="position:absolute;left:48PX;top:123PX;width:672PX;height:19PX;TEXT-ALIGN:CENTER;">FORM 8-K</DIV>

<DIV style="position:absolute;left:48PX;top:142PX;width:672PX;height:20PX;TEXT-ALIGN:CENTER;">CURRENT REPORT</DIV>

<DIV style="position:absolute;left:48PX;top:177PX;width:672PX;height:19PX;TEXT-ALIGN:CENTER;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</DIV>

<DIV style="position:absolute;left:48PX;top:211PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Date of Report (date of earliest event reported):</DIV>

<DIV style="position:absolute;left:48PX;top:244PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Fleet Home Equity Loan Trust 2001-1</DIV>

<DIV style="position:absolute;left:48PX;top:261PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">(Exact name or Registrant as specified in its charter)</DIV>

<DIV style="position:absolute;left:120PX;top:293PX;width:192PX;height:17PX;TEXT-ALIGN:CENTER;">New York</DIV>

<DIV style="position:absolute;left:312PX;top:293PX;width:176PX;height:17PX;TEXT-ALIGN:CENTER;">Reg. No.333-53662</DIV>

<DIV style="position:absolute;left:488PX;top:293PX;width:152PX;height:17PX;TEXT-ALIGN:CENTER;">Not Required</DIV>

<DIV style="position:absolute;left:120PX;top:310PX;width:192PX;height:17PX;TEXT-ALIGN:CENTER;">(State or other jurisdiction of </DIV>

<DIV style="position:absolute;left:120PX;top:327PX;width:192PX;height:17PX;TEXT-ALIGN:CENTER;">incorporation) </DIV>

<DIV style="position:absolute;left:312PX;top:310PX;width:176PX;height:17PX;TEXT-ALIGN:CENTER;">(Commission File Number)</DIV>

<DIV style="position:absolute;left:488PX;top:310PX;width:152PX;height:17PX;TEXT-ALIGN:CENTER;">(I.R.S. Employer </DIV>

<DIV style="position:absolute;left:488PX;top:327PX;width:152PX;height:17PX;TEXT-ALIGN:CENTER;">Identification Number)</DIV>

<DIV style="position:absolute;left:48PX;top:374PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Fleet National Bank</DIV>

<DIV style="position:absolute;left:48PX;top:391PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Attention: William Mutterperl, General Counsel</DIV>

<DIV style="position:absolute;left:48PX;top:442PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">(Address of Seller/Servicer)</DIV>

<DIV style="position:absolute;left:48PX;top:489PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">100 Federal Street</DIV>

<DIV style="position:absolute;left:48PX;top:506PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Boston, Massachusetts 02110</DIV>

<DIV style="position:absolute;left:48PX;top:523PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">(Address of principal executive offices)</DIV>

<DIV style="position:absolute;left:48PX;top:570PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">(617) 434-2200 (Telephone Number of Seller/Servicer)</DIV>

<DIV style="position:absolute;left:48PX;top:587PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">(Registrant's Telephone Number)</DIV>

<DIV style="position:absolute;left:48PX;top:664PX;width:672PX;height:15PX;">Items 1-4. </DIV>

<DIV style="position:absolute;left:48PX;top:707PX;width:672PX;height:15PX;">Item 5. Other Events.</DIV>

<DIV style="position:absolute;left:48PX;top:725PX;width:128PX;height:18PX;">Information from the </DIV>

<DIV style="position:absolute;left:48PX;top:740PX;width:672PX;height:15PX;">Series 2001-1 Noteholders under the Sale and Servicing Agreement dated May 15, 2001 between</DIV>

<DIV style="position:absolute;left:48PX;top:753PX;width:672PX;height:15PX;">Fleet National Bank, as&nbsp;&nbsp;Seller and Servicer, Fleet Home Equity Loan Trust 2001-1, as the Trust,</DIV>

<DIV style="position:absolute;left:48PX;top:770PX;width:672PX;height:17PX;">Fleet Home Equity Loan LLC, as Depositor, and U.S Bank National Association as Indenture Trustee.</DIV>

<DIV style="position:absolute;left:48PX;top:797PX;width:672PX;height:15PX;">Item 6. </DIV>

<DIV style="position:absolute;left:48PX;top:842PX;width:672PX;height:15PX;">Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.</DIV>

<DIV style="position:absolute;left:48PX;top:857PX;width:120PX;height:15PX;">Monthly reports for </DIV>

<DIV style="position:absolute;left:48PX;top:938PX;width:672PX;height:16PX;TEXT-ALIGN:CENTER;">SIGNATURE</DIV>

<DIV style="position:absolute;left:48PX;top:972PX;width:672PX;height:17PX;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to </DIV>

<DIV style="position:absolute;left:48PX;top:989PX;width:672PX;height:17PX;">be signed on its behalf by the undersigned thereunto duly authorized. </DIV>

<DIV style="position:absolute;left:48PX;top:813PX;width:672PX;height:15PX;">Inapplicable.</DIV>

<DIV style="position:absolute;left:48PX;top:677PX;width:672PX;height:15PX;">Inapplicable.</DIV>

<DIV style="position:absolute;left:48PX;top:872PX;width:672PX;height:17PX;">Series 2001-1.</DIV>

<DIV style="position:absolute;left:48PX;top:408PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">100 Federal Street</DIV>

<DIV style="position:absolute;left:48PX;top:425PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">Boston, Massachusetts 02110</DIV>

<DIV style="position:absolute;left:282PX;top:725PX;width:412PX;height:18PX;">Monthly Period is presented for the Fleet Home Equity Loan Trust,</DIV>

<DIV style="position:absolute;left:275PX;top:857PX;width:456PX;height:15PX;">Monthly&nbsp;&nbsp;Period relating to Fleet Home Equity Loan Asset Backed Notes </DIV>

<DIV style="position:absolute;left:120PX;top:278PX;width:520PX;height:15PX;TEXT-ALIGN:CENTER;">June 20, 2002</DIV>

<DIV style="position:absolute;left:176PX;top:726PX;width:104PX;height:15PX;TEXT-ALIGN:CENTER;">May 2002</DIV>

<DIV style="position:absolute;left:168PX;top:857PX;width:104PX;height:15PX;TEXT-ALIGN:CENTER;">May 2002</DIV>

<DIV style="position:absolute;left:312PX;top:1096PX;width:408PX;height:17PX;TEXT-ALIGN:CENTER;">(Registrant)</DIV>

<DIV style="position:absolute;left:312PX;top:1080PX;width:408PX;height:17PX;TEXT-ALIGN:CENTER;">Fleet Home Equity Loan Trust 2001-1</DIV>

<DIV style="position:absolute;left:312PX;top:1109PX;width:408PX;height:17PX;TEXT-ALIGN:CENTER;">BY: Fleet National Bank</DIV>

<DIV style="position:absolute;left:312PX;top:1125PX;width:408PX;height:17PX;TEXT-ALIGN:CENTER;">(Seller/Servicer)</DIV>

<DIV style="position:absolute;left:120PX;top:1156PX;width:72PX;height:16PX;">Date: </DIV>

<DIV style="position:absolute;left:312PX;top:1155PX;width:408PX;height:16PX;TEXT-ALIGN:CENTER;">BY:&nbsp;&nbsp;/s/ JEFFREY A. LIPSON</DIV>

<DIV style="position:absolute;left:312PX;top:1171PX;width:408PX;height:16PX;TEXT-ALIGN:CENTER;">Name:&nbsp;&nbsp;Jeffrey A. Lipson</DIV>

<DIV style="position:absolute;left:312PX;top:1187PX;width:408PX;height:15PX;TEXT-ALIGN:CENTER;">Title:&nbsp;&nbsp;Vice President</DIV>

<DIV style="position:absolute;left:48PX;top:1254PX;width:672PX;height:17PX;TEXT-ALIGN:CENTER;">EXHIBIT INDEX</DIV>

<DIV style="position:absolute;left:48PX;top:1284PX;width:72PX;height:17PX;">Exhibit</DIV>

<DIV style="position:absolute;left:640PX;top:1286PX;width:80PX;height:17PX;TEXT-ALIGN:CENTER;">Sequential</DIV>

<DIV style="position:absolute;left:640PX;top:1302PX;width:80PX;height:17PX;TEXT-ALIGN:CENTER;">Page No.</DIV>

<DIV style="position:absolute;left:48PX;top:1317PX;width:72PX;height:17PX;TEXT-ALIGN:CENTER;">1.</DIV>

<DIV style="position:absolute;left:120PX;top:1332PX;width:520PX;height:17PX;">Loan Asset Backed Notes Series 2001-1.</DIV>

<DIV style="position:absolute;left:120PX;top:1315PX;width:120PX;height:15PX;">Monthly reports for </DIV>

<DIV style="position:absolute;left:640PX;top:1333PX;width:80PX;height:16PX;TEXT-ALIGN:CENTER;">3</DIV>

<DIV style="position:absolute;left:344PX;top:1315PX;width:296PX;height:15PX;">Monthly&nbsp;&nbsp;Period relating to Fleet Home Equity </DIV>

<DIV style="position:absolute;left:192PX;top:1156PX;width:120PX;height:15PX;">June 20, 2002</DIV>

<DIV style="position:absolute;left:240PX;top:1315PX;width:96PX;height:15PX;TEXT-ALIGN:CENTER;">May 2002</DIV>
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Form 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
Fleet Home Equity Loan Trust 2001-1
(Exact name or Registrant as specified in its charter)
New York
Reg. No.333-53662
Not Required
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
Fleet National Bank
Attention: William Mutterperl, General Counsel
(Address of Seller/Servicer)
100 Federal Street
Boston, Massachusetts 02110
(Address of principal executive offices)
(617) 434-2200 (Telephone Number of Seller/Servicer)
(Registrant's Telephone Number)
Items 1-4.
Item 5. Other Events.
Information from the
Series 2001-1 Noteholders under the Sale and Servicing Agreement dated May 15, 2001 between
Fleet National Bank, as  Seller and Servicer, Fleet Home Equity Loan Trust 2001-1, as the Trust,
Fleet Home Equity Loan LLC, as Depositor, and U.S Bank National Association as Indenture Trustee.
Item 6.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Monthly reports for
SIGNATURE
Pursuant to the requirements 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.
Inapplicable.
Inapplicable.
Series 2001-1.
100 Federal Street
Boston, Massachusetts 02110
Monthly Period is presented for the Fleet Home Equity Loan Trust,
Monthly  Period relating to Fleet Home Equity Loan Asset Backed Notes
June 20, 2002
May 2002
May 2002
(Registrant)
Fleet Home Equity Loan Trust 2001-1
BY: Fleet National Bank
(Seller/Servicer)
Date:
BY:  /s/ JEFFREY A. LIPSON
Name:  Jeffrey A. Lipson
Title:  Vice President
EXHIBIT INDEX
Exhibit
Sequential
Page No.
1.
Loan Asset Backed Notes Series 2001-1.
Monthly reports for
3
Monthly  Period relating to Fleet Home Equity
June 20, 2002
May 2002