<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
8-K
______________________________
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) DECEMBER 15, 1996
-----------------
EQCC HOME EQUITY LOAN TRUST 1995-4
-----------------------------------------------------------------------
(Exact name of registrant as specified in governing instruments)
DELAWARE 33-99344 59-7059962
------------ ------------ --------------
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
organization)
10401 DEERWOOD PARK BOULEVARD, JACKSONVILLE, FLORIDA 32256
-----------------------------------------------------------------------
(Address of principal offices) (Zip Code)
Registrant's telephone number, including area code: (904) 987-5000
------------------
Not Applicable
-----------------------------------------------------------------------
(Former name or former address, if changed since last report)
Total Number of Pages 7
--
Exhibit Index Located at Page 5
--
Page 1 of 7
--
<PAGE>
-2-
Items 1 through 4, Item 6, and Item 8 are not included because they
are not applicable.
Item 5. OTHER EVENTS.
(a) MERGER. On September 26, 1994, EquiCredit Corporation (the "Company")
entered into an Agreement and Plan of Merger (the "Merger Agreement") with
Barnett Banks, Inc. ("Barnett Banks") and a Delaware corporation to be formed
as wholly-owned subsidiary of Barnett Banks (the "Merger Subsidiary"). The
transaction was consummated on January 27, 1995.
(b) On August 15, 1996, (the "August Remittance Date") a scheduled
distribution was made from EQCC Home Equity Loan Trust 1995-4 to holders of
Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class
A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates and Class R
Certificates. The information contained in the Trustee's Remittance Report
in respect of the August Remittance Date, attached hereto as Exhibit 99, is
hereby incorporated by reference.
(c) On February 19, 1996, a class action complaint was filed in the U.S.
District Court for the Northern District of Georgia by Elizabeth D.
Washington on behalf of herself and others similarly situated, against
EquiCredit Corporation of Ga., an affiliate of EquiCredit Corporation of
America. Plaintiff purports to represent a class (the "Class") consisting of
all persons who obtained "federally regulated mortgage loans" from February
16, 1995 to February 16, 1996 on which a fee or yield spread premium ("YSP")
was paid to a mortgage broker. The action is brought pursuant to the Real
Estate Settlement Procedures Act ("RESPA") alleging that EquiCredit violated
RESPA by paying a YSP to Funding Center of Georgia, Inc. ("FCG"), failing to
disclose such YSP on the Good Faith Estimate of settlement costs, and failing
to provide a Good Faith Estimate and HUD "Special Information Booklet" within
three days of receipt of loan application. Plaintiff seeks judgment equal to
three times the amount of all YSP paid by EquiCredit to FCG and other
brokers, as well as court costs and litigation expenses, attorney fees and
such other relief which may be granted by the court. Management of
EquiCredit denies that the Company has violated any law, rule, or regulation
as asserted in the Plaintiff's Complaint. The parties have agreed in
principle to settle the action and a settlement agreement is being negotiated
and will be presented to the court for approval. The agreement contemplates
payment of EquiCredit of the total settlement amount of $352,000 in full
compromise and settlement of all claims of plaintiff and class members. By
reaching agreement in principle to settle the case, EquiCredit does not admit
to any wrongdoing and in fact specifically denies any liability or wrongdoing
whatsoever.
<PAGE>
- 3 -
AS OF OCTOBER 1, 1993, OLD STONE CREDIT CORPORATION IS N/K/A EQUICREDIT
CORPORATION OF AMERICA.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements - Not Applicable
(b) Pro Forma Financial Information - Not Applicable
(c) EXHIBITS
(Exhibit numbers conform to Item 601 of Regulation S-K):
99 - Trustee's Remittance Report in respect of the August
Remittance Date.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
-4-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf the
undersigned hereto duly authorized.
EQCC HOME EQUITY LOAN TRUST 1995-4
(Registrant)
EQUICREDIT CORPORATION OF AMERICA
as Representative
DECEMBER 15, 1996 BY: /s/ RODOLFO F. ENGMANN
- ----------------- --------------------------------------
Rodolfo F. Engmann
Executive Vice President
<PAGE>
-5-
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER EXHIBIT PAGE
------- ------- ------------
<S> <C> <C>
99 -- Trustee's Remittance Report in respect of the August Remittance Date. 7
</TABLE>
[ THIS SPACE IS INTENTIONALLY LEFT BLANK ]
<PAGE>
-6-
EXHIBIT 99
Trustee's Remittance Report in respect of the August Remittance Date.
[ THIS SPACE IS INTENTIONALLY LEFT BLANK ]
<PAGE>
- --------------------------------------------------------------------
BANK OF AMERICA ILLINOIS - TRUSTEE
Remittance Statement Addendum for
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1995-4
- --------------------------------------------------------------------
CLASS A-1 PRINCIPAL BALANCE (Beginning) 44,227,941.97
CLASS A-2 PRINCIPAL BALANCE (Beginning) 85,000,000.00
CLASS A-3 PRINCIPAL BALANCE (Beginning) 30,000,000.00
CLASS A-4 PRINCIPAL BALANCE (Beginning) 25,000,000.00
CLASS A-5 PRINCIPAL BALANCE (Beginning) 15,000,000.00
CLASS A-6 PRINCIPAL BALANCE (Beginning) 17,941,214.36
Fixed Rate POOL PRINCIPAL BALANCE (Beginning) 199,227,941.97
Variable Rate POOL PRINCIPAL BALANCE (Beginning) 17,941,214.36
Total POOL PRINCIPAL BALANCE (Beginning) 217,169,156.33
MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 149
PRINCIPAL BALANCE OF Fixed Rate MORTGAGES PREPAYING 5,557,228.27
PRINCIPAL BALANCE OF Var. Rate MORTGAGES PREPAYING 1,129,326.75
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 6,686,555.02
AMOUNT OF Fixed Rate CURTAILMENTS RECEIVED 33,093.62
AMOUNT OF Variable Rate CURTAILMENTS RECEIVED 553.20
TOTAL AMOUNT OF CURTAILMENTS RECEIVED 33,646.82
AGGREGATE AMOUNT OF PRINCIPAL PORTION OF -
MONTHLY PAYMENTS RECEIVED - Fixed Rate Pool 305,699.13
MONTHLY PAYMENTS RECEIVED - Var. Rate Pool 7,297.24
MONTHLY PAYMENTS RECEIVED - Total Pool 312,996.37
ENDING CLASS A-1 PRINCIPAL BALANCE 38,218,852.23
ENDING CLASS A-2 PRINCIPAL BALANCE 85,000,000.00
ENDING CLASS A-3 PRINCIPAL BALANCE 30,000,000.00
ENDING CLASS A-4 PRINCIPAL BALANCE 25,000,000.00
ENDING CLASS A-5 PRINCIPAL BALANCE 15,000,000.00
ENDING CLASS A-6 PRINCIPAL BALANCE 16,804,037.17
Fixed Rate POOL PRINCIPAL BALANCE (Ending) 193,218,852.23
Variable Rate POOL PRINCIPAL BALANCE (Ending) 16,804,037.17
Total POOL PRINCIPAL BALANCE (Ending) 210,022,889.40
PYMT PER FROM DATE NOV. 15, 1996
PYMT PER TO DATE DEC. 15, 1996
<TABLE>
<CAPTION>
PER $1,000 PER $1,000 PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS A-5
95,000,000.00 85,000,000.00 30,000,000.00 25,000,000.00 15,000,000.00
<S> <C> <C> <C> <C> <C>
CLASS A-1 PRINCIPAL BALANCE (Beginning) 465.55728389
CLASS A-2 PRINCIPAL BALANCE (Beginning) 1000.00000000
CLASS A-3 PRINCIPAL BALANCE (Beginning) 1000.00000000
CLASS A-4 PRINCIPAL BALANCE (Beginning) 1000.00000000
CLASS A-5 PRINCIPAL BALANCE (Beginning) 1000.00000000
CLASS A-6 PRINCIPAL BALANCE (Beginning)
Fixed Rate POOL PRINCIPAL BALANCE (Beginning) 2097.13623126 2343.85814082 6640.93139900 7969.11767880 13281.86279800
Variable Rate POOL PRINCIPAL BALANCE (Beginning)
Total POOL PRINCIPAL BALANCE (Beginning) 2285.99111926 2554.93125094 7238.97187767 8686.76625320 14477.94375533
MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS
PRINCIPAL BALANCE OF Fixed Rate MORTGAGES
PREPAYING 58.49713968
PRINCIPAL BALANCE OF Var. Rate MORTGAGES PREPAYING
PRINCIPAL BALANCE OF MORTGAGES PREPAYING
AMOUNT OF Fixed Rate CURTAILMENTS RECEIVED 0.34835389
AMOUNT OF Variable Rate CURTAILMENTS RECEIVED
TOTAL AMOUNT OF CURTAILMENTS RECEIVED
AGGREGATE AMOUNT OF PRINCIPAL PORTION OF -
MONTHLY PAYMENTS RECEIVED - Fixed Rate Pool 3.21788558
MONTHLY PAYMENTS RECEIVED - Var. Rate Pool
MONTHLY PAYMENTS RECEIVED - Total Pool
ENDING CLASS A-1 PRINCIPAL BALANCE 402.30370768
ENDING CLASS A-2 PRINCIPAL BALANCE 1000.00000000
ENDING CLASS A-3 PRINCIPAL BALANCE 1000.00000000
ENDING CLASS A-4 PRINCIPAL BALANCE 1000.00000000
ENDING CLASS A-5 PRINCIPAL BALANCE 1000.00000000
ENDING CLASS A-6 PRINCIPAL BALANCE
Fixed Rate POOL PRINCIPAL BALANCE (Ending) 2033.88265505 2273.16296741 6440.62840767 7728.75408920 12881.25681533
Variable Rate POOL PRINCIPAL BALANCE (Ending)
Total POOL PRINCIPAL BALANCE (Ending) 2210.76725684 2470.85752235 7000.76298000 8400.91557600 14001.52596000
</TABLE>
