|
|
|
|
|
|
|
|
|
|
Previous: MICRO ASI INC, 10KSB, 2000-03-30 |
Next: EQCC HOME EQUITY LOAN TRUST 1999-2, 15-15D, 2000-03-30 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) MARCH 25, 2000
----------------
EQCC HOME EQUITY LOAN TRUST 1999-2
----------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
59-3582804
DELAWARE 333-71489 59-3582805
-------- --------- ----------
(STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER
JURISDICTION OF NUMBER) IDENTIFICATION NO.)
INCORPORATION
EQCC HOME EQUITY LOAN TRUST 1999-2
10401 DEERWOOD PARK BLVD.
JACKSONVILLE, FLORIDA 32256
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
----------------------------------------
REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE: (904) 457-5000
<PAGE>
ITEM 5. OTHER EVENTS
-------------
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
--------
(C) EXHIBITS
99 TRUSTEE'S REMITTANCE REPORT IN RESPECT OF THE MARCH 2000, REMITTANCE
DATE.
<PAGE>
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 EQCC HOME EQUITY LOAN TRUST 1999-2
-----------------------------------------
(REGISTRANT)
EQUICREDIT CORPORATION OF AMERICA
---------------------------------
AS REPRESENTATIVE
DATED: MARCH 31, 2000 BY:
----------------
NAME: JAMES B. DODD
TITLE: VICE PRESIDENT / GENERAL COUNSEL
(DULY AUTHORIZED OFFICER)
<PAGE>
------
INDEX TO EXHIBITS
-----------------
EXHIBIT
NUMBER EXHIBIT
- ------ -------
99 TRUSTEE'S REMITTANCE REPORT IN RESPECT OF THE MARCH 2000 REMITTANCE DATE.
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT 99
U.S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
REMITTANCE REPORT FOR
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1999-2
--------------------------------------------------------------
FROM FEB. 25, 2000
TO MAR. 25, 2000
FIXED RATE VARIABLE RATE
TOTAL GROUP GROUP
______ _ _______________________________________________ _______________ _____________ _______________
<S> <C> <C> <C> <C> <C>
(i) AVAILABLE PAYMENT AMOUNT 18,998,595.92 17,350,526.25 1,648,069.67
Portions subject to bankrupty 0.00
(ii) CLASS A-1F PRINCIPAL BALANCE (Beginning) 208,537,474.43
CLASS A-2F PRINCIPAL BALANCE (Beginning) 138,000,000.00
CLASS A-3F PRINCIPAL BALANCE (Beginning) 175,000,000.00
CLASS A-4F PRINCIPAL BALANCE (Beginning) 95,000,000.00
CLASS A-5F PRINCIPAL BALANCE (Beginning) 48,183,542.00
CLASS A-6F PRINCIPAL BALANCE (Beginning) 82,500,000.00
CLASS A-1A PRINCIPAL BALANCE (Beginning) 32,600,008.82
POOL PRINCIPAL BALANCE (Beginning) 779,821,025.25 747,221,016.43 32,600,008.82
(iii) MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 210 196 14
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 13,757,948.47 12,412,808.69 1,345,139.78
(iv) AMOUNT OF CURTAILMENTS RECEIVED 299,868.36 185,232.32 114,636.04
(v) AGGREGATE AMOUNT OF PRINCIPAL PORTION OF
MONTHLY PAYMENTS RECEIVED 713,448.26 699,493.14 13,955.12
(vi) INTEREST RECEIVED ON MORTGAGES 6,329,031.13 6,081,818.24 247,212.89
(vii) AGGREGATE ADVANCES 5,168,827.28 4,945,287.84 223,539.44
(viii) . . . . a. DELINQUENCY INFORMATION (INCLUDES BANKRUPTCY
& FORECLOSURES & REO):
MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 605 584 21
PRINCIPAL BALANCE 39,748,292.94 37,912,824.51 1,835,468.43
% OF PRINCIPAL 5.198908% 4.958836% 5.896845%
MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 237 228 9
PRINCIPAL BALANCE 15,052,089.05 14,288,163.14 763,925.91
% OF PRINCIPAL 1.968749% 1.868831% 2.454280%
MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 920 881 39
PRINCIPAL BALANCE 62,334,853.64 59,185,330.33 3,149,523.31
% OF PRINCIPAL 8.153134% 7.741190% 10.118535%
b. MORTGAGES IN BANKRUPTCY (TOTAL)
NUMBER 149 144 5
PRINCIPAL BALANCE 10,497,667.52 9,970,033.46 527,634.06
% OF PRINCIPAL 1.373050% 1.304038% 1.695140%
BANKRUPTCY MORTGAGE DELINQUENCIES (included in
(viii) a. above)
BANKRUPTCY MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 5 5 0
PRINCIPAL BALANCE 332,130.60 332,130.60 0.00
% OF PRINCIPAL 0.04% 0.05% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 8 8 0
PRINCIPAL BALANCE 667,246.51 667,246.51 0.00
% OF PRINCIPAL 0.09% 0.09% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 90
DAYS OR MORE:
NUMBER 100 96 4
PRINCIPAL BALANCE 7,284,826.31 6,909,154.52 375,671.79
% OF PRINCIPAL 0.95% 0.94% 1.21%
c. MORTGAGES IN FORECLOSURE (TOTAL):
NUMBER 634 605 29
PRINCIPAL BALANCE 43,768,733.85 41,325,643.36 2,443,090.49
% OF PRINCIPAL 5.724765% 5.405219% 7.848964%
FORECLOSURE MORTGAGE DELINQUENCIES (included
in (viii) a. above)
FORECLOSURE MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 3 3 0
PRINCIPAL BALANCE 220,928.59 220,928.59 0.00
% OF PRINCIPAL 0.03% 0.03% 0.00%
FORECLOSURE MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 6 6 0
PRINCIPAL BALANCE 417,046.81 417,046.81 0.00
% OF PRINCIPAL 0.05% 0.06% 0.00%
FORECLOSURE MORTGAGE DELINQUENCIES 90
DAYS OR MORE:
NUMBER 612 583 29
PRINCIPAL BALANCE 42,512,017.58 40,068,927.09 2,443,090.49
% OF PRINCIPAL 5.56% 5.46% 7.85%
d. MORTGAGES IN REO (TOTAL-included in 90 days or more
in (viii)a. above):
NUMBER 20 20 0
PRINCIPAL BALANCE 1,151,168.62 1,151,168.62 0.00
% OF PRINCIPAL 0.150568% 0.156958% 0.000000%
e. MORTGAGE LOAN LOSSES 479,602.16 479,602.16 0.00
(ix) ENDING CLASS A-1F PRINCIPAL BALANCE 194,740,991.75
ENDING CLASS A-2F PRINCIPAL BALANCE 138,000,000.00
ENDING CLASS A-3F PRINCIPAL BALANCE 175,000,000.00
ENDING CLASS A-4F PRINCIPAL BALANCE 95,000,000.00
ENDING CLASS A-5F PRINCIPAL BALANCE 48,183,542.00
ENDING CLASS A-6F PRINCIPAL BALANCE 82,500,000.00
ENDING CLASS A-1A PRINCIPAL BALANCE 31,126,277.88
(x) WEIGHTED AVERAGE MATURITY OF MORTGAGE LOANS 209.68900053 211.85452949 158.66009298
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 10.21474101% 10.236507% 9.701852%
(xi) SERVICING FEES PAID 374,366.49 359,008.63 15,357.86
SERVICING FEES ACCRUED 380,560.65 364,916.15 15,644.50
(xii) SECTION 5.04 SERVICER PAYMENTS OR REIMBSMTS. 0.00
(xiii) POOL PRINCIPAL BALANCE (ENDING) 764,550,811.63 733,424,533.75 31,126,277.88
(xiv) RESERVED
(xv) REIMBURSABLE AMOUNTS:
TO SERVICER 0.00
TO REPRESENTATIVE 0.00
TO DEPOSITORS 0.00
(xvi) NUMBER OF MORTGAGES OUTSTANDING (BEGINNING) 11,948 11,606 342
NUMBER OF MORTGAGES OUTSTANDING (END) 11,722 11,394 328
(xvii) AGGREGATE INTEREST ACCRUED ON THE MORTGAGE LOANS 6,469,954.67 6,216,919.65 253,035.02
(xviiiI) SUBORDINATED AMOUNT (REMAINING) 96,774,114.51
SPREAD ACCOUNT BALANCE( AFTER DISTRIBUTIONS) 14,887,769.57
CUMMULATIVE EXCESS SPREAD ACCOUNT RECEIPTS 1,186,914.12
EXCESS SPREAD 1,881,409.56 1,818,357.77 63,051.79
(xIx) AGGREGATE MORTGAGE LOAN LOSSES 1,186,914.12
(xx) LIBOR INTEREST CARRYOVER 0.00
UNPAID LIBOR INTEREST CARRYOVER 0.00
FIXED RATE INTEREST CARRYOVER 0.00
(xxi) TOTAL PRINCIPAL BALANCE OF THREE LARGEST MORTGAGES 956,571.71
(xxii) AMOUNT OF INSURED PAYMENT 0.00
(xxiii) SPREAD ACCOUNT-BEGINNING BALANCE 13,430,639.62
SPREAD ACCOUNT-ENDING BALANCE 14,887,769.57
SPREAD ACCOUNT REQUIREMENT 43,520,758.06
</TABLE>
<TABLE>
<CAPTION>
U.S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1999-2
--------------------------------------------------------------
FROM: FEB. 25, 2000
TO: MAR. 25, 2000
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
SECURITY ORIGINAL BEGINNING PRINCIPAL ENDING INTEREST
DESCRIPTION RATE MATURITY FACE BALANCE REDUCTIONS BALANCE PAYABLE
CLASS A-1F . 6.050000% JAN. 25, 2010 287,000,000.00 208,537,474.43 13,796,482.68 194,740,991.75 1,051,376.43
CLASS A-2F . 6.223000% JUNE 25, 2011 138,000,000.00 138,000,000.00 0.00 138,000,000.00 715,645.00
CLASS A-3F . 6.347000% AUG. 25, 2022 175,000,000.00 175,000,000.00 0.00 175,000,000.00 925,604.17
CLASS A-4F . 6.753000% AUG. 25, 2027 95,000,000.00 95,000,000.00 0.00 95,000,000.00 534,612.50
CLASS A-5F . 7.009000% JULY 25, 2030 48,183,542.00 48,183,542.00 0.00 48,183,542.00 281,432.04
CLASS A-6F . 6.685000% JULY 25, 2030 82,500,000.00 82,500,000.00 0.00 82,500,000.00 459,593.75
CLASS A-1A . 6.108750% * JULY 25, 2030 45,081,155.00 32,600,008.82 1,473,730.94 31,126,277.88 171,486.23 *
CLASS X JULY 25, 2030 0.00 0.00 0.00 0.00 0.00
CLASS R N/A 0.00 0.00 0.00 0.00
CLASS LR N/A 0.00 0.00 0.00 0.00
_____________ _____________ _____________ _____________ _____________
TOTAL 870,764,697.00 779,821,025.25 15,270,213.62 764,550,811.63 4,139,750.12
CUSIP PER $1,000 PER $1,000 PER $1,000 PER $1,000
CLASS A-1F 268917FG1 726.61140916 48.07136822 678.54004094 3.66333252
CLASS A-2F 268917FH9 1,000.00000000 0.00000000 1000.00000000 5.18583333
CLASS A-3F 268917FJ5 1,000.00000000 0.00000000 1000.00000000 5.28916667
CLASS A-4F 268917FK2 1,000.00000000 0.00000000 1000.00000000 5.62750000
CLASS A-5F 268917FL0 1,000.00000000 0.00000000 1000.00000000 5.84083333
CLASS A-6F 268917FM8 1,000.00000000 0.00000000 1000.00000000 5.57083333
CLASS A-1A 268917FN6 723.14049673 32.69062073 690.44987601 3.80394499
<FN>
* INTEREST PAYABLE REFLECTS ACTUAL NUMBER OF DAYS FROM THE PREVIOUS PAYMENT DATE TO THE CURRENT PAYMENT DATE.
</TABLE>
|
|