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): January 25, 2000
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EQCC HOME EQUITY LOAN TRUST 1999-3
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
59-3594136
59-3594138
59-3594139
DELAWARE 333-71489 59-3594140
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(STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER
JURISDICTION OF NUMBER) IDENTIFICATION NO.)
INCORPORATION
EQCC HOME EQUITY LOAN TRUST 1999-3
10401 DEERWOOD PARK BLVD.
JACKSONVILLE, FLORIDA 32256
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
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REGISTRANT'S TELEPHONE NUMBER INCLUDING AREA CODE: (904) 457-5000
<PAGE>
ITEM 5. OTHER EVENTS
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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
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EXHIBITS
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(C) EXHIBITS
99 TRUSTEE'S REMITTANCE REPORT IN RESPECT OF THE JANUARY 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 1999-3
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(REGISTRANT)
EQUICREDIT CORPORATION OF AMERICA
---------------------------------
AS REPRESENTATIVE
DATED: JANUARY 31, 2000 BY: /S/ JAMES B. DODD
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NAME: JAMES B. DODD
TITLE: VICE PRESIDENT/GENERAL COUNSEL
(DULY AUTHORIZED OFFICER)
<PAGE>
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INDEX TO EXHIBITS
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EXHIBIT
NUMBER EXHIBIT
- ------ -------
99 TRUSTEE'S REMITTANCE REPORT IN RESPECT OF THE JANAURY 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 1999-3
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FROM DECEMBER 25, 1999
TO JANUARY 25, 2000
FIXED RATE FIXED RATE VARIABLE RATE
TOTAL GROUP I GROUP II GROUP
______ _______________________________________________ _______________ _____________ _____________ _______________
<S> <C> <C> <C> <C> <C>
(i). . . AVAILABLE PAYMENT AMOUNT 24,709,643.83 20,988,103.00 2,760,561.39 960,979.44
Portions subject to bankrupty 0.00
(ii) . . CLASS A-1F PRINCIPAL BALANCE (Beginning) 310,564,182.86
CLASS A-2F PRINCIPAL BALANCE (Beginning) 137,000,000.00
CLASS A-3F PRINCIPAL BALANCE (Beginning) 160,000,000.00
CLASS A-4F PRINCIPAL BALANCE (Beginning) 80,000,000.00
CLASS A-5F PRINCIPAL BALANCE (Beginning) 27,796,013.00
CLASS A-6F PRINCIPAL BALANCE (Beginning) 133,000,000.00
CLASS A-7F PRINCIPAL BALANCE (Beginning) 69,962,340.06
CLASS A-1A PRINCIPAL BALANCE (Beginning) 34,773,504.33
POOL PRINCIPAL BALANCE (Beginning) 961,449,894.33 855,863,028.85 70,441,317.15 35,145,548.33
(iii). . MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 211 186 16 9
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 15,237,066.38 12,417,091.20 2,128,754.09 691,221.09
(iv) . . AMOUNT OF CURTAILMENTS RECEIVED 1,037,304.40 1,030,853.20 5,526.71 924.49
(v). . . AGGREGATE AMOUNT OF PRINCIPAL PORTION OF
MONTHLY PAYMENTS RECEIVED 772,098.88 693,215.39 60,674.75 18,208.74
(vi) . . INTEREST RECEIVED ON MORTGAGES 7,219,032.52 6,426,836.47 564,794.26 227,401.79
(vii). . AGGREGATE ADVANCES 6,475,488.37 5,782,023.60 468,581.93 224,882.84
(viii) . a. DELINQUENCY INFORMATION (INCLUDES BANKRUPTCY
& FORECLOSURES & REO):
MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 653 613 17 23
PRINCIPAL BALANCE 44,324,643.06 39,835,547.15 2,442,814.43 2,046,281.48
% OF PRINCIPAL 4.693740% 4.732869% 3.580718% 0.059424131
MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 245 233 6 6
PRINCIPAL BALANCE 17,612,926.21 15,651,582.29 1,518,086.18 443,257.74
% OF PRINCIPAL 1.865114% 1.859567% 2.225236% 1.287223%
MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 502 474 13 15
PRINCIPAL BALANCE 35,972,903.90 31,678,578.17 3,159,611.82 1,134,713.91
% OF PRINCIPAL 3.809336% 3.763738% 4.631411% 3.295216%
ROLLING 3 MONTH AVERAGE 90 DAY DELINQUENCY RATE: 2.950571% 2.950571% 0.000000% 0
ROLLING 6 MONTH AVERAGE 90 DAY DELINQUENCY RATE: 2.212829% 3.090442% 0.016783225
b. MORTGAGES IN BANKRUPTCY (TOTAL)
NUMBER 52 52 0 0
PRINCIPAL BALANCE 2,680,352.33 2,680,352.33 0.00 0.00
% OF PRINCIPAL 0.283835% 0.318453% 0.000000% 0.000000%
BANKRUPTCY MORTGAGE DELINQUENCIES (included in
(viii) a. above)
BANKRUPTCY MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 3 3 0 0.00
PRINCIPAL BALANCE 182,859.08 182,859.08 0.00 0.00
% OF PRINCIPAL 0.02% 0.02% 0.00% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 3 3 0 0
PRINCIPAL BALANCE 180,857.78 180,857.78 0.00 0.00
% OF PRINCIPAL 0.02% 0.02% 0.00% 0.00%
BANKRUPTCY MORTGAGE DELINQUENCIES 90
DAYS OR MORE:
NUMBER 13 13 0 0
PRINCIPAL BALANCE 975,154.26 975,154.26 0.00 0.00
% OF PRINCIPAL 0.10% 0.12% 0.00% 0.00%
c. MORTGAGES IN FORECLOSURE (TOTAL):
NUMBER 207 197 5 5
PRINCIPAL BALANCE 15,316,232.82 13,475,402.96 1,501,617.44 339,212.42
% OF PRINCIPAL 1.621906% 1.601015% 2.201096% 0.985075%
d. MORTGAGES IN REO (TOTAL-included in 90
or more in (viii)a. above):
NUMBER 0 0 0 0
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF PRINCIPAL 0.000000% 0.000000% 0.000000% 0.000000%
e. MORTGAGE LOAN LOSSES 68,227.55 43,227.55 25,000.00 0.00
(ix) . . ENDING CLASS A-1F PRINCIPAL BALANCE 294,547,893.05
ENDING CLASS A-2F PRINCIPAL BALANCE 137,000,000.00
ENDING CLASS A-3F PRINCIPAL BALANCE 160,000,000.00
ENDING CLASS A-4F PRINCIPAL BALANCE 80,000,000.00
ENDING CLASS A-5F PRINCIPAL BALANCE 27,796,013.00
ENDING CLASS A-6F PRINCIPAL BALANCE 133,000,000.00
ENDING CLASS A-7F PRINCIPAL BALANCE 67,642,175.21
ENDING CLASS A-1A PRINCIPAL BALANCE 34,005,741.53
(x). . . WEIGHTED AVERAGE MATURITY OF MORTGAGE LOANS 210.16567564 212.15913535 203.20190043 175.23725629
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 10.29850945% 10.329313% 10.448275% 9.248897%
(xi) . . SERVICING FEES PAID 446,370.81 398,179.68 32,919.50 15,271.63
SERVICING FEES ACCRUED 511,633.08 459,133.57 35,090.20 17,409.31
(xii). . SECTION 5.04 SERVICER PAYMENTS OR REIMBSMTS. 0.00
(xiii) . POOL PRINCIPAL BALANCE (ENDING) 944,335,197.12 841,678,641.51 68,221,361.60 34,435,194.01
(xiv). . RESERVED
(xv) . . REIMBURSABLE AMOUNTS:
TO SERVICER 0.00
TO REPRESENTATIVE 0.00
TO DEPOSITORS 0.00
(xvi). . NUMBER OF MORTGAGES OUTSTANDING (BEGINNING) 13,820 12,851 597 372
NUMBER OF MORTGAGES OUTSTANDING (END) 13,606 12,663 580 363
(xvii) . AGGREGATE INTEREST ACCRUED ON THE MORTGAGE LOANS 8,166,879.57 7,295,049.23 603,795.91 268,034.43
(xviiiI) OVERCOLLATERALIZED AMOUNT 10,343,374.38 9,334,735.50 579,186.40 429,452.48
OVERCOLLATERALIZED TARGET AMOUNT 34,229,224.78 26,633,884.15 3,719,590.40 3,719,590.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT 23,885,850.40 17,299,148.65 3,140,404.00 3,446,297.75
(xIx). . AGGREGATE MORTGAGE LOAN LOSSES 68,227.55
(xx) . . CLASS A-1A LIBOR INTEREST CARRYOVER 0.00
UNPAID CLASS A-1A LIBOR INTEREST CARRYOVER 0.00
FIXED RATE GROUP 1 INTEREST CARRYOVER 0.00
UNPAID FIXED RATE GROUP 1 INTEREST CARRYOVER 0.00
FIXED RATE GROUP 2 INTEREST CARRYOVER 0.00
UNPAID FIXED RATE GROUP 2 INTEREST CARRYOVER 0.00
(xxi). . CLASS A-1F PASS THROUGH RATE 6.54800%
CLASS A-2F PASS THROUGH RATE 6.88700%
CLASS A-3F PASS THROUGH RATE 7.06700%
CLASS A-4F PASS THROUGH RATE 7.37100%
CLASS A-5F PASS THROUGH RATE 7.63800%
CLASS A-6F PASS THROUGH RATE 7.26700%
CLASS A-7F PASS THROUGH RATE 7.44800%
CLASS A-1A PASS THROUGH RATE 6.79125%
</TABLE>
<TABLE>
<CAPTION>
U.S. BANK NATIONAL ASSOCIATION
AS TRUSTEE
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1999-3
--------------------------------------------------------------
FROM: DECEMBER 25, 1999
TO: JANUARY 25, 2000
<S> <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 . 6.548000% APR. 25, 2010 350,000,000.00 310,564,182.86 16,016,289.80 294,547,893.05 1,694,645.22
CLASS A-2F . 6.887000% JULY 25, 2013 137,000,000.00 137,000,000.00 0.00 137,000,000.00 786,265.83
CLASS A-3F . 7.067000% NOV. 25, 2024 160,000,000.00 160,000,000.00 0.00 160,000,000.00 942,266.67
CLASS A-4F . 7.371000% JUNE 25, 2028 80,000,000.00 80,000,000.00 0.00 80,000,000.00 491,400.00
CLASS A-5F . 7.638000% AUG. 25, 2030 27,796,013.00 27,796,013.00 0.00 27,796,013.00 176,921.62
CLASS A-6F . 7.267000% AUG. 25, 2030 133,000,000.00 133,000,000.00 0.00 133,000,000.00 805,425.83
CLASS A-7F . 7.448000% AUG. 25, 2030 74,391,790.00 69,962,340.06 2,320,164.85 67,642,175.21 434,232.92
CLASS A-1A . 0.0679125 * Aug. 25, 2030 37,812,197.00 34,773,504.33 767,762.80 34,005,741.53 190,236.42
CLASS X AUG. 25, 2030 0.00 0.00 0.00 0.00 0.00
CLASS R-I N/A 0.00 0.00 0.00 0.00
CLASS R-II N/A 0.00 0.00 0.00 0.00
CLASS R-III N/A 0.00 0.00 0.00 0.00
CLASS R-IIV N/A 0.00 0.00 0.00 0.00
_____________ _____________ _____________ _____________ _____________
TOTAL 1,000,000,000.00 953,096,040.25 19,104,217.46 933,991,822.80 5,521,394.53
CUSIP PER $1,000 PER $1,000 PER $1,000 PER $1,000
CLASS A-1F 268917FP1 887.32623673 45.76082801 841.56540872 4.84184350
CLASS A-2F 268917FQ9 1,000.00000000 0.00000000 1000.00000000 5.73916667
CLASS A-3F 268917FR7 1,000.00000000 0.00000000 1000.00000000 5.88916667
CLASS A-4F 268917FS5 1,000.00000000 0.00000000 1000.00000000 6.14250000
CLASS A-5F 268917FT3 1,000.00000000 0.00000000 1000.00000000 6.36500000
CLASS A-6F 268917FU0 1,000.00000000 0.00000000 1000.00000000 6.05583333
CLASS A-7F 268917FV8 940.45781210 31.18845306 909.26935903 5.83710815
CLASS A-1A 268917FW6 919.63723592 20.30463345 899.33260246 5.03108625
<FN>
* INTEREST PAYABLE REFLECTS ACTUAL NUMBER OF DAYS FROM THE PREVIOUS PAYMENT DATE TO THE CURRENT PAYMENT DATE.
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