<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 1998
Series EquiCredit Funding Trust 1997-B
----------------------------------
(Exact name of registrant as specified in its charter)
United States
of America 333-20675 59-3466219
-------- -------- -----------
(State or other (Commission File (IRS employer
Jurisdiction of Number) Identification No.)
Incorporation
Series EquiCredit Funding Trust 1997-B
10401 Deerwood Park Blvd.
Jacksonville, Florida 32256
(Address of principal executive offices)
----------------------------------------
Registrant's telephone number including area code: (904) 987-5000
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Item 5. Other Events
------------
On January 9, 1998, Barnett Banks, Inc., the parent and sole
stockholder of EquiCredit Corporation, merged with NationsBank
Corporation. As a result EquiCredit Corporation is now an
indirect wholly-owned subsidiary of NationsBank Corporation.
The Registrant hereby incorporates by reference the information
contained in Exhibit 99 hereto in response to this Item 5.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
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(c) Exhibits
99 Trustee's Remittance Report in respect of the February 1998
Remittance Date.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Series EquiCredit Funding Trust 1997-B
----------------------------------
(Registrant)
EquiCredit Corporation of America
---------------------------------
as Representative
Dated: March 31, 1998 By: \s\ James B. Dodd
-----------------
Name: James B. Dodd
Title: Vice President/General Counsel
(Duly Authorized Officer)
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INDEX TO EXHIBITS
-----------------
Exhibit
Number Exhibit
- ------- -------
99 Trustee's Remittance Report in respect of the February
Remittance Date.
U. S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
REMITTANCE REPORT FOR
EQUICREDIT FUNDING TRUST 1997-B
FROM January 15, 1998
TO February 17, 1998
FIXED RATE VARIABLE RATE
TOTAL GROUP GROUP
____________________________________________________________________________
(i) AVAILABLE PAYMENT
AMOUNT 3,934,499.49 2,913,276.71 1,021,222.78
Portions subject to bankrupty 0.00
(ii) CLASS A-1 PRINCIPAL BALANCE
(Beginning) 20,725,883.85
CLASS A-2 PRINCIPAL BALANCE
(Beginning) 18,290,000.00
CLASS A-3 PRINCIPAL BALANCE
(Beginning) 31,700,000.00
CLASS A-4 PRINCIPAL BALANCE
(Beginning) 17,270,000.00
CLASS A-5 PRINCIPAL BALANCE
(Beginning) 24,800,000.00
CLASS A-6 PRINCIPAL BALANCE
(Beginning) 12,750,000.00
CLASS A-7 PRINCIPAL BALANCE
(Beginning) 14,800,000.00
CLASS A-8 PRINCIPAL BALANCE
(Beginning) 23,727,504.56
POOL PRINCIPAL BALANCE
(Beginning) 164,063,388.41 140,335,883.85 23,727,504.56
(iii) MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 47 38 9
PRINCIPAL BALANCE OF MORTGAGES
PREPAYING 2,814,843.40 1,933,672.64 881,170.76
(iv) AMOUNT OF CURTAILMENTS
RECEIVED 12,010.75 11,551.16 459.59
(v) AGGREGATE AMOUNT OF PRINCIPAL PORTION OF
MONTHLY PAYMENTS
RECEIVED 202,530.67 190,976.48 11,554.19
(vi) INTEREST RECEIVED ON
MORTGAGES 1,469,580.85 1,272,789.24 196,791.61
(vii) AGGREGATE ADVANCES 1,004,919.48 841,244.40 163,675.08
(viii)a. DELINQUENCY INFORMATION (INCLUDE BANKRUPTCY & FORECLOSURE & REO):
MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 132 126 6
PRINCIPAL BALANCE 5,520,416.70 5,038,770.57 481,646.13
% OF PRINCIPAL 3.428106% 3.646007% 2.109308%
MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 42 41 1
PRINCIPAL BALANCE 1,933,946.94 1,856,009.21 77,937.73
% OF PRINCIPAL 1.200956% 1.342991% 0.341318%
MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 39 35 4
PRINCIPAL BALANCE 2,060,434.98 1,770,050.12 290,384.86
% OF PRINCIPAL 1.279503% 1.280792% 1.271704%
b. MORTGAGES IN BANKRUPTCY (TOTAL)
NUMBER 21 20 1
PRINCIPAL BALANCE 998,098.37 888,001.55 110,096.82
% OF PRINCIPAL 0.619806% 0.642550% 0.482155%
BANKRUPTCY MORTGAGE DELINQUENCIES (included in (viii) a. above)
BANKRUPTCY MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 2 2 0
PRINCIPAL BALANCE 73,836.94 73,836.94 0.00
% OF PRINCIPAL 0.05% 0.05% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 3 3 0
PRINCIPAL BALANCE 134,932.98 134,932.98 0.00
% OF PRINCIPAL 0.08% 0.10% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 3 3 0
PRINCIPAL BALANCE 160,575.88 160,575.88 0.00
% OF PRINCIPAL 0.10% 0.12% 0.00%
c. MORTGAGES IN FORECLOSURE (TOTAL):
NUMBER 1 1 0
PRINCIPAL BALANCE 5,845.90 5,845.90 0.00
% OF PRINCIPAL 0.003630% 0.004230% 0.000000%
FORECLOSURE MORTGAGE DELINQUENCIES (included in (viii) a. above)
FORECLOSURE MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 0 0 0
PRINCIPAL BALANCE 0.00 0.00 0.00
% OF PRINCIPAL 0.00% 0.00% 0.00%
FORECLOSURE MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 0 0 0
PRINCIPAL BALANCE 0.00 0.00 0.00
% OF PRINCIPAL 0.00% 0.00% 0.00%
FORECLOSURE MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 1 1 0
PRINCIPAL BALANCE 5,845.90 5,845.90 0.00
% OF PRINCIPAL 0.00% 0.00% 0.00%
d. MORTGAGES IN REO:
NUMBER 0 0 0
PRINCIPAL BALANCE 0.00 0.00 0.00
% OF PRINCIPAL 0.00% 0.00% 0.00%
e. MORTGAGE LOAN LOSSES 0.00 0.00 0.00
(ix) ENDING CLASS A-1 PRINCIPAL
BALANCE 18,589,683.57
ENDING CLASS A-2 PRINCIPAL
BALANCE 18,290,000.00
ENDING CLASS A-3 PRINCIPAL
BALANCE 31,700,000.00
ENDING CLASS A-4 PRINCIPAL
BALANCE 17,270,000.00
ENDING CLASS A-5 PRINCIPAL
BALANCE 24,800,000.00
ENDING CLASS A-6 PRINCIPAL
BALANCE 12,750,000.00
ENDING CLASS A-7 PRINCIPAL
BALANCE 14,800,000.00
ENDING CLASS A-8 PRINCIPAL
BALANCE 22,834,320.02
(x) WEIGHTED AVERAGE MATURITY OF
MORTGAGE LOANS 204.62684708 204.17885895 207.33819640
WEIGHTED AVERAGE MORTGAGE
INTEREST RATE 11.08812077% 11.254739% 10.079703%
(xi) SERVICING FEES PAID 79,807.95 67,968.13 11,839.82
SERVICING FEES ACCRUED 81,171.91 69,538.78 11,633.13
(xii)SECTION 5.04 SERVICER PAYMENTS OR
REIMBSMTS. 0.00
(xiii)POOL PRINCIPAL BALANCE
(ENDING) 161,034,003.59 138,199,683.57 22,834,320.02
(xiv) RESERVED
(xv) REIMBURSABLE AMOUNTS:
TO SERVICER 0.00
TO REPRESENTATIVE 0.00
TO DEPOSITORS 0.00
(xvi) NUMBER OF MORTGAGES OUTSTANDING
(BEGINNING) 3632 3348 284
NUMBER OF MORTGAGES OUTSTANDING
(END) 3390 3149 241
(xvii)AGGREGATE INTEREST ACCRUED ON THE
MORTGAGE LOANS 1,500,859.79 1,304,829.96 196,029.83
(xviii)SUBORDINATED AMOUNT
(REMAINING) 17,937,500.00
SPREAD ACCOUNT BALANCE (AFTER
DISTRIBUTIONS) 2,710,677.70
CUMMULATIVE EXCESS SPREAD ACCOUNT
RECEIPTS 0.00
EXCESS SPREAD 515,128.30 458,214.75 56,913.55
(xx) AGGREGATE MORTGAGE LOAN
LOSSES 0.00
(xxi) RESERVED
U. S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
EQUICREDIT FUNDING TRUST 1997-B
FROM: January 15, 1998
TO: February 17, 1998
SECURITY ORIGINAL
DESCRIPTION RATE MATURITY FACE
CLASS A-1 5.905000% June 15, 2004 28,390,000.00
CLASS A-2 6.250000% July 15, 2007 18,290,000.00
CLASS A-3 6.415000% Mar. 15, 2012 31,700,000.00
CLASS A-4 6.545000% May 15, 2012 17,270,000.00
CLASS A-5 6.900000% Oct. 15, 2022 24,800,000.00
CLASS A-6 7.295000% Oct. 15, 2028 12,750,000.00
CLASS A-7 6.855000% Oct. 15, 2028 14,800,000.00
CLASS A-8 5.773750% Oct. 15, 2028 27,000,000.00
CLASS R VARIABLE Oct. 15, 2028 0.00
______________
TOTAL 175,000,000.00
BEGINNING PRINCIPAL ENDING INETEREST
BALANCE REDUCTIONS BALANCE PAYABLE
CLASS A-1 20,725,883.85 2,136,200.28 18,589,683.57 101,988.62
CLASS A-2 18,290,000.00 0.00 18,290,000.00 95,260.42
CLASS A-3 31,700,000.00 0.00 31,700,000.00 169,462.92
CLASS A-4 17,270,000.00 0.00 17,270,000.00 94,193.46
CLASS A-5 24,800,000.00 0.00 24,800,000.00 142,600.00
CLASS A-6 12,750,000.00 0.00 12,750,000.00 77,509.38
CLASS A-7 14,800,000.00 0.00 14,800,000.00 84,545.00
CLASS A-8 23,727,504.56 893,184.54 22,834,320.02 125,580.29
CLASS R 0.00 0.00 0.00 0.00
______________ __ ____________ __ ______________ __ __________
TOTAL 164,063,388.41 3,029,384.82 161,034,003.59 891,140.08
BALANCE BALANCE BALANCE BALANCE
CUSIP PER $1,000 PER $1,000 PER $1,000 PER $1,000
CLASS A-1 294424AP1 730.04169954 75.24481437 654.79688517 3.59241353
CLASS A-2 294424AQ9 1,000.00000000 0.00000000 1000.00000000 5.20833333
CLASS A-3 294424AR7 1,000.00000000 0.00000000 1000.00000000 5.34583333
CLASS A-4 294424AS5 1,000.00000000 0.00000000 1000.00000000 5.45416667
CLASS A-5 294424AT3 1,000.00000000 0.00000000 1000.00000000 5.75000000
CLASS A-6 294424AU0 1,000.00000000 0.00000000 1000.00000000 6.07916667
CLASS A-7 294424AV8 1,000.00000000 0.00000000 1000.00000000 5.71250000
CLASS A-8 294424AW6 878.79646519 33.08090889 845.71555630 4.65112183
CLASS R
* Interest Payable reflects actual number of days from the previous Payment
Date to the current Payment Date.
U. S. BANK NATIONAL ASSOCIATION PYMT PER FROM DATE January 15, 1998
AS TRUSTEE PYMT PER TO DATE February 17, 1998
EQUICREDIT FUNDING TRUST 1997-B
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
28,390,000.00 18,290,000.00 31,700,000.00 17,270,000.00 24,800,000.00
CLASS A-1 PRINCIPAL BALANCE
(Beginning) 20,725,883.85
730.04169954
CLASS A-2 PRINCIPAL BALANCE
(Beginning) 18,290,000.00
1000.00000000
CLASS A-3 PRINCIPAL BALANCE
(Beginning) 31,700,000.00
1000.00000000
CLASS A-4 PRINCIPAL BALANCE
(Beginning) 17,270,000.00
1000.00000000
CLASS A-5 PRINCIPAL BALANCE
(Beginning) 24,800,000.00
1000.00000000
CLASS A-6 PRINCIPAL BALANCE
(Beginning) 12,750,000.00
CLASS A-7 PRINCIPAL BALANCE
(Beginning) 14,800,000.00
CLASS A-8 PRINCIPAL BALANCE
(Beginning) 23,727,504.56
Fixed Rate POOL PRINCIPAL BALANCE
(Beginning) 140,335,883.85
4943.14490490 7672.82033078 4426.99949054 8125.99211639 5658.70499395
Variable Rate POOL PRINCIPAL BALANCE
(Beginning) 23,727,504.56
Total POOL PRINCIPAL BALANCE
(Beginning) 164,063,388.41
5778.91470271 8970.11418316 5175.50121167 9499.90668269 6615.45921008
ENDING CLASS A-1 PRINCIPAL
BALANCE 18,589,683.57
654.79688517
ENDING CLASS A-2 PRINCIPAL
BALANCE 18,290,000.00
1000.00000000
ENDING CLASS A-3 PRINCIPAL
BALANCE 31,700,000.00
1000.00000000
ENDING CLASS A-4 PRINCIPAL
BALANCE 17,270,000.00
1000.00000000
ENDING CLASS A-5 PRINCIPAL
BALANCE 24,800,000.00
1000.00000000
ENDING CLASS A-6 PRINCIPAL
BALANCE 12,750,000.00
ENDING CLASS A-7 PRINCIPAL
BALANCE 14,800,000.00
ENDING CLASS A-8 PRINCIPAL
BALANCE 22,834,320.02
Fixed Rate POOL PRINCIPAL BALANCE
(Ending) 138,199,683.57
4867.90009052 7556.0242520 4359.61146909 8002.29783266 5572.56788589
Variable Rate POOL PRINCIPAL BALANCE
(Ending) 22,834,320.02
Total POOL PRINCIPAL BALANCE
(Ending) 161,034,003.59
5672.20865058 8804.48352050 5079.93702177 9324.49354893 6493.30659637
PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-6 CLASS A-7 CLASS A-8
12,750,000.00 14,800,000.00 27,000,000.00
CLASS A-1 PRINCIPAL BALANCE
(BEGINNING) 20,725,883.85
CLASS A-2 PRINCIPAL BALANCE
(BEGINNING) 18,290,000.00
CLASS A-3 PRINCIPAL BALANCE
(BEGINNING) 31,700,000.00
CLASS A-4 PRINCIPAL BALANCE
(BEGINNING) 17,270,000.00
CLASS A-5 PRINCIPAL BALANCE
(BEGINNING 24,800,000.00
CLASS A-6 PRINCIPAL BALANCE
(BEGINNING) 12,750,000.00
CLASS A-7 PRINCIPAL BALANCE 1000.00000000
(BEGINNING) 14,800,000.00 1000.00000000
CLASS A-8 PRINCIPAL BALANCE
(BEGINNING) 23,727,504.56 878.79646519
Fixed Rate POOL PRINCIPAL
BALANCE
(BEGINNING) 140,335,883.85 11006.73598824 9482.15431419
Variable Rate POOL PRINCIPAL BALANCE
(BEGINNING) 23,727,504.56 878.79646519
Total POOL PRINCIPAL BALANCE
(BEGINNING) 164,063,388.41 12867.71673804 11085.36408176 6076.42179296
ENDING CLASS A-1 PRINCIPAL
BALANCE 18,589,683.57
ENDING CLASS A-2 PRINCIPAL
BALANCE 18,290,000.00
ENDING CLASS A-3 PRINCIPAL
BALANCE 31,700,000.00
ENDING CLASS A-4 PRINCIPAL
BALANCE 17,270,000.00
ENDING CLASS A-5 PRINCIPAL
BALANCE 24,800,000.00
ENDING CLASS A-6 PRINCIPAL
BALANCE 12,750,000.00 1000.00000000
ENDING CLASS A-7 PRINCIPAL
BALANCE 14,800,000.00 1000.00000000
ENDING CLASS A-8 PRINDIPAL
BALANCE 22,834,320.02 845.71555630
Fixed Rate POOL PRINCIPAL BALANCE
(ENDING) 138,199,683.57 10839.19086824 9337.81645743
Variable Rate POOL PRINCIPAL BALANCE
(ENDING) 22,834,320.02 845.71555630
Total POOL PRINCIPAL BALANCE
(ENDING) 161,034,003.59 12630.11792863 10880.67591824 5964.22235519
