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: July 23, 1999
(Date of earliest event reported)
Commission File No. 333-71489
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)
<PAGE>
ITEM 5. Other Events
------------
Attached as an exhibit are the Computational Materials (as
defined in the no-action letter dated May 21, 1994 issued by the
Securities and Exchange Commission to Kidder, Peabody Acceptance
Corporation-I, Kidder, Peabody & Co. Incorporated and Kidder Structured
Asset Corporation (the "Kidder Letter")) and Collateral Term Sheets (as
defined in the no-action letter dated February 17, 1995 issued by the
Securities and Exchange Commission to the Public Securities Association)
prepared by Banc of America Securities LLC, which are hereby filed
pursuant to such letter.
<PAGE>
ITEM 7. Financial Statements and Exhibits
---------------------------------
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(99) Computational Materials and
Collateral Term Sheets
prepared by Banc of America
Securities LLC in
connection with EQCC Home
Equity Loan Asset Backed
Certificates, Series 1999-3
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EQCC RECEIVABLES CORPORATION
July 23, 1999
By: /s/ Lenore Hanapel
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Name: Lenore Hanapel
Title: Senior Vice President
EQCC ASSET BACKED CORPORATION
July 23, 1999
By: /s/ Lenore Hanapel
------------------------------
Name: Lenore Hanapel
Title: Senior Vice President
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
(99) Computational Materials and E
Collateral Term Sheets
prepared by Banc of America
Securities LLC in connection with
EQCC Home Equity Loan Asset Backed
Certificates, Series 1999-3
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Banc of
America Securities LLC (the "Underwriter") is not soliciting any action based
upon it. This material is not to be construed as an offer to sell or the
solicitation of any offer to buy any security in any jurisdiction where such an
offer or solicitation would be illegal. This material is based on information
that the Underwriter considers reliable, but the Underwriter does not represent
that it is accurate or complete and it should not be relied upon as such. By
accepting this material the recipient agrees that it will not distribute or
provide the material to any other person. The information contained in this
material may pertain to securities that ultimately are not sold. The information
contained in this material may be based on assumptions regarding market
conditions and other matters as reflected herein. The Underwriter makes no
representation regarding the reasonableness of such assumptions or the
likelihood that any of such assumptions will coincide with actual market
conditions or events, and this material should not be relied upon for such
purposes. The Underwriter and its affiliates, officers, directors, partners and
employees, including persons involved in the preparation or issuance of this
material may, from time to time, have long or short positions in, and buy and
sell, the securities mentioned therein or derivatives thereof (including
options). This material may be filed with the Securities and Exchange Commission
(the "SEC") and incorporated by reference into an effective registration
statement previously filed with the SEC under Rule 415 of the Securities Act of
1933, including all cases where the material does not pertain to securities that
are ultimately offered for sale pursuant to such registration statement.
Information contained in this material is current as of the date appearing on
this material only. Information in this material regarding any assets backing
any securities discussed herein supersedes all prior information regarding such
assets. Any information in the material, whether regarding the assets backing
any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
EQCC 99-3
ORIGINAL PRINCIPAL BALANCES
LOAN GROUP F
<TABLE>
<CAPTION>
NUMBER OF STATISTIC CUT-OFF DATE % OF CUT-OFF DATE
RANGE OF ORIGINAL CALCULATION MORTGAGE STATISTIC CALCULATION STATISTIC CALCULATION
PRINCIPAL BALANCES LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
------------------ -------------------- --------------------- ---------------------
<S> <C> <C> <C>
$0.01 to 25,000.00 21 434,198.44 1.70
25,000.01 to 50,000.00 186 7,413,864.20 29.07
50,000.01 to 75,000.00 107 6,525,773.35 25.59
75,000.01 to 100,000.00 58 4,980,034.88 19.53
100,000.01 to 125,000.00 25 2,760,845.70 10.83
125,000.01 to 150,000.00 14 1,950,186.85 7.65
150,000.01 to 175,000.00 4 660,466.29 2.59
175,000.01 to 200,000.00 3 562,914.48 2.21
200,000.01 to 225,000.00 1 214,000.00 0.84
---- --------------- ------
TOTAL 419 $ 25,502,284.19 100.00%
==== =============== ======
</TABLE>
<PAGE>
EQCC 99-3
FIXED MORTGAGE LOAN GROUP
CURRENT PRINCIPAL BALANCE OF THE MORTGAGE LOANS
<TABLE>
<CAPTION>
-------------------- -------------------- -------------------- --------------------
RANGE OF AGGREGATE PERCENT OF AGGREGATE
CUT-OFF DATE NUMBER OF CUT-OFF DATE CUT-OFF DATE
PRINCIPAL BALANCES MORTGAGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
-------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C>
$0.01 to 20,000.00 10 177,473.32 0.70%
20,000.01 to 30,000.00 37 981,119.69 3.85%
30,000.01 to 40,000.00 64 2,266,802.33 8.89%
40,000.01 to 50,000.00 96 4,422,667.30 17.34%
50,000.01 to 60,000.00 53 2,911,535.78 11.42%
60,000.01 to 70,000.00 39 2,512,963.90 9.85%
70,000.01 to 80,000.00 28 2,123,194.97 8.33%
80,000.01 to 90,000.00 31 2,641,613.84 10.36%
90,000.01 to 100,000.00 14 1,316,499.74 5.16%
100,000.01 to 110,000.00 16 1,683,262.27 6.60%
110,000.01 to 120,000.00 5 585,363.91 2.30%
120,000.01 to 130,000.00 7 875,713.71 3.43%
130,000.01 to 140,000.00 4 540,154.80 2.12%
140,000.01 to 150,000.00 7 1,026,537.86 4.03%
150,000.01 to 160,000.00 1 159,669.66 0.63%
160,000.01 to 170,000.00 3 500,796.63 1.96%
170,000.01 to 180,000.00 1 178,937.23 0.70%
180,000.01 to 190,000.00 1 184,154.52 0.72%
190,000.01 to 200,000.00 1 199,822.73 0.78%
200,000.01 to 225,000.00 1 214,000.00 0.84%
-------------------- -------------------- --------------------
TOTAL 419 $ 25,502,284.19 100.00%
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</TABLE>
