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 30, 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 30, 1999
By: /s/ Lenore Hanapel
------------------------------
Name: Lenore Hanapel
Title: Senior Vice President
EQCC ASSET BACKED CORPORATION
July 30, 1999
By: /s/ Lenore Hanapel
------------------------------
Name: Lenore Hanapel
Title: Senior Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Paper (P) or
Exhibit No. Description Electronic (E)
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(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
<TABLE>
Banc of America Securities LLC EQCC 1999-3 (Px-o)
Price to Yield Table
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Bond Class: A-7F
<CAPTION>
=============================================================================================================================
Settle Date Call % Description First Accrual Date Next Pay Date Actual Delay Issue Balance
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<S> <C> <C> <C> <C> <C> <C>
08/26/1999 10.00 P-T 08/01/1999 09/25/1999 24 74,391,790.00
=============================================================================================================================
<CAPTION>
=============================================================================================================================
Balance Principal Type Coupon Interest Type Index Type Margin Accrued Interest
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
74,391,790.00 Normal 7.4480 Fixed None 0.0000 384,770.87
=============================================================================================================================
<CAPTION>
=============================================================================================================================
PP=75.0;18.0;75.0 PP=100.0;24.0;100.0 PP=125.0;30.0;125.0 PP=150.0;33.0;150.0 PP=200.0;48.0;200.0
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
99.52973 7.556 7.554 7.553 7.551 7.546
99.56098 7.547 7.543 7.538 7.534 7.525
99.59223 7.537 7.531 7.524 7.517 7.503
99.62348 7.527 7.519 7.510 7.501 7.482
99.65473 7.518 7.507 7.496 7.484 7.460
99.68598 7.508 7.495 7.482 7.468 7.439
99.71723 7.498 7.483 7.467 7.451 7.418
99.74848 7.489 7.471 7.453 7.435 7.396
99.77973 7.479 7.459 7.439 7.418 7.375
99.81098 7.469 7.447 7.425 7.402 7.353
99.84223 7.460 7.436 7.411 7.385 7.332
99.87348 7.450 7.424 7.397 7.369 7.311
99.90473 7.440 7.412 7.383 7.353 7.289
99.93598 7.431 7.400 7.368 7.336 7.268
99.96723 7.421 7.388 7.354 7.320 7.246
99.99848 7.411 7.376 7.340 7.303 7.225
100.02973 7.402 7.365 7.326 7.287 7.204
100.06098 7.392 7.353 7.312 7.270 7.182
100.09223 7.383 7.341 7.298 7.254 7.161
100.12348 7.373 7.329 7.284 7.238 7.140
100.15473 7.363 7.317 7.270 7.221 7.119
100.18598 7.354 7.306 7.256 7.205 7.097
100.21723 7.344 7.294 7.242 7.188 7.076
100.24848 7.335 7.282 7.228 7.172 7.055
100.27973 7.325 7.270 7.214 7.156 7.034
100.31098 7.315 7.258 7.200 7.139 7.012
100.34223 7.306 7.247 7.186 7.123 6.991
100.37348 7.296 7.235 7.172 7.107 6.970
100.40473 7.287 7.223 7.158 7.091 6.949
100.43598 7.277 7.212 7.144 7.074 6.928
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WAL 4.20 3.24 2.63 2.20 1.64
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Mod Dur 3.23 2.63 2.21 1.89 1.46
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FirstPrinPay 09/25/1999 09/25/1999 09/25/1999 09/25/1999 09/25/1999
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Maturity 04/25/2010 12/25/2007 04/25/2006 02/25/2005 07/25/2003
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Prin Window 128 100 80 66 47
=============================================================================================================================
</TABLE>
This document is for informative purposes only. Under no circumstances is it to
be used or considered as an offer to sell, or a solicitation of an offer to buy
any security. Additional information is available upon request. Results based on
hypothetical projections or past performance have created inherent limitations.
There is no certainty that the parameters and assumptions used can be duplicated
with actual trades. This document may not be reproduced in whole or in part or
otherwise made available without our written consent.
<PAGE>
<TABLE>
Banc of America Securities LLC EQCC 1999-3 (Px-o)
Price to Yield Table
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Bond Class: A-7F
<CAPTION>
=============================================================================================================================
Settle Date Call % Description First Accrual Date Next Pay Date Actual Delay Issue Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
08/26/1999 0.00 P-T 08/01/1999 09/25/1999 24 74,391,790.00
=============================================================================================================================
<CAPTION>
=============================================================================================================================
Balance Principal Type Coupon Interest Type Index Type Margin Accrued Interest
- -----------------------------------------------------------------------------------------------------------------------------
74,391,790.00 Normal 7.4480 Fixed None 0.0000 384,770.87
=============================================================================================================================
<CAPTION>
=============================================================================================================================
PP=75.0;18.0;75.0 PP=100.0;24.0;100.0 PP=125.0;30.0;125.0 PP=150.0;33.0;150.0 PP=200.0;48.0;200.0
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
99.52973 7.563 7.570 7.574 7.575 7.572
99.56098 7.554 7.559 7.560 7.559 7.552
99.59223 7.544 7.547 7.547 7.543 7.532
99.62348 7.535 7.536 7.533 7.527 7.511
99.65473 7.525 7.524 7.520 7.511 7.491
99.68598 7.516 7.513 7.506 7.496 7.470
99.71723 7.506 7.501 7.492 7.480 7.450
99.74848 7.496 7.490 7.479 7.464 7.430
99.77973 7.487 7.478 7.465 7.449 7.409
99.81098 7.477 7.467 7.452 7.433 7.389
99.84223 7.468 7.455 7.438 7.417 7.368
99.87348 7.458 7.444 7.425 7.401 7.348
99.90473 7.449 7.432 7.411 7.386 7.328
99.93598 7.439 7.421 7.398 7.370 7.308
99.96723 7.430 7.409 7.384 7.354 7.287
99.99848 7.420 7.398 7.371 7.339 7.267
100.02973 7.411 7.386 7.357 7.323 7.247
100.06098 7.401 7.375 7.344 7.307 7.227
100.09223 7.392 7.364 7.330 7.292 7.206
100.12348 7.383 7.352 7.317 7.276 7.186
100.15473 7.373 7.341 7.303 7.261 7.166
100.18598 7.364 7.329 7.290 7.245 7.146
100.21723 7.354 7.318 7.276 7.229 7.125
100.24848 7.345 7.307 7.263 7.214 7.105
100.27973 7.335 7.295 7.249 7.198 7.085
100.31098 7.326 7.284 7.236 7.183 7.065
100.34223 7.316 7.272 7.222 7.167 7.045
100.37348 7.307 7.261 7.209 7.152 7.025
100.40473 7.298 7.250 7.196 7.136 7.005
100.43598 7.288 7.238 7.182 7.120 6.985
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WAL 4.31 3.42 2.80 2.35 1.75
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Mod Dur 3.28 2.72 2.30 1.99 1.53
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FirstPrinPay 09/25/1999 09/25/1999 09/25/1999 09/25/1999 09/25/1999
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Maturity 05/25/2018 05/25/2014 10/25/2011 04/25/2010 12/25/2007
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Prin Window 225 177 146 128 100
=============================================================================================================================
</TABLE>
This document is for informative purposes only. Under no circumstances is it to
be used or considered as an offer to sell, or a solicitation of an offer to buy
any security. Additional information is available upon request. Results based on
hypothetical projections or past performance have created inherent limitations.
There is no certainty that the parameters and assumptions used can be duplicated
with actual trades. This document may not be reproduced in whole or in part or
otherwise made available without our written consent.
