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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: September 15, 1998
(Date of earliest event reported)
Commission File No. 333-48053
EQCC Receivables Corporation
EQCC Asset Backed Corporation
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59-3170055
Delaware 59-3170052
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(State of Incorporation) (I.R.S. Employer Identification No.)
10401 Deerwood Park Boulevard
Jacksonville, Florida 32256
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Address of principal executive offices (Zip Code)
(904) 987-5000
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. Other Events
Documents incorporated by Reference
The consolidated financial statements of Ambac Assurance Corporation and its
subsidiaries as of December 31, 1997 and December 31, 1996, and for the
three-year period ended December 31, 1997, included in the Annual Report on Form
10-K of Ambac Financial Group, Inc. (which was filed with the Securities and
Exchange Commission on March 31, 1998) and the consolidated financial statements
of Ambac Assurance Corporation and its subsidiaries as of June 30, 1998, and for
periods ended June 30, 1998 and June 30, 1997, included in the Quarterly Report
on Form 10-Q of Ambac Financial Group, Inc. for the period ended June 30, 1998
(which was filed with the Securities and Exchange Commission on August 14, 1998)
are hereby incorporated by reference in (i) this Current Report on Form 8-K;
(ii) the registration statement of the registrants (Registration No. 333-48053)
and (iii) the Prospectus Supplement and Prospectus, each dated September 10,
1998, relating to EQCC Home Equity Loan Asset Backed Certificates, Series
1998-3, and shall be deemed to be part hereof and thereof
Item 7. Financial Statements and Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-23) Consent of KPMG Peat Marwick LLP, independent
auditors of Ambac Assurance Corporation
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
EQCC RECEIVABLES CORPORATION
September 15, 1998
By: /s/ Lenore Hanapel
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Name: Lenore Hanapel
Title: Senior Vice President
EQCC ASSET BACKED CORPORATION
September 15, 1998
By: /s/ Lenore Hanapel
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Name: Lenore Hanapel
Title: Senior Vice President
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INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-23) Consent of KPMG Peat Marwick E
LLP, independent auditors of Ambac
Assurance Corporation
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EX-23
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-48053) of EQCC Receivables Corporation and EQCC Asset Backed Corporation
(the "Registrants"), the Prospectus Supplement relating to Series 1998-3 of the
Registrants (the "Prospectus Supplement") and the Form 8-K of the Registrant
dated September 15, 1998, of our report dated January 29, 1998 on the
consolidated financial statements of Ambac Assurance Corporation as of December
31, 1997 and 1996, and for each of the years in the three-year period ended
December 31, 1997 which report appears in the Form 10-K of Ambac Financial
Group, Inc. dated March 31, 1998 and to the reference to our firm under the
heading "Experts" in the Prospectus Supplement.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
New York, New York
September 15, 1998
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