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: August 17, 1999
(Date of earliest event reported)
Commission File No. 333-71489
EQCC Receivables Corporation
EQCC Asset Backed Corporation
- --------------------------------------------------------------------------------
59-3170055
Delaware 59-3170052
- --------------------------------------------------------------------------------
(State of Incorporation) (I.R.S. Employer Identification No.)
10401 Deerwood Park Boulevard
Jacksonville, Florida 32256
- --------------------------------------------------------------------------------
Address of principal executive offices (Zip Code)
(904) 987-5000
- --------------------------------------------------------------------------------
Registrant's Telephone Number, including area code
- --------------------------------------------------------------------------------
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
Documents incorporated by Reference
The consolidated financial statements of Ambac Assurance Corporation and
subsidiaries as of December 31, 1998 and December 31,1997, and for each of the
years in the three-year period ended December 31, 1998, 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 30, 1999) and the unaudited
consolidated financial statements of Ambac Assurance Corporation and its
subsidiaries as of June 30, 1999, and for periods ended June 30, 1999 and June
30, 1998, included in the Quarterly Report on Form 10-Q of Ambac Financial
Group, Inc. for the period ended June 30, 1999 (which was filed with the
Securities and Exchange Commission on August 13, 1999) are hereby incorporated
by reference in (i) this Current Report on Form 8-K; (ii) the registration
statement (No. 333-71489) of the Registrant; and (iii) the Prospectus Supplement
and Prospectus each dated August 18, 1999, relating to EQCC Home Equity Loan
Asset Backed Certificates, Series 1999-3, 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
- ----------- -----------
(EX-23) Consent of KPMG LLP,
independent auditors of
Ambac Assurance Corporation
<PAGE>
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
August 17, 1999
By: /s/ Lenore Hanapel
------------------------------
Name: Lenore Hanapel
Title: Senior Vice President
EQCC ASSET BACKED CORPORATION
August 17, 1999
By: /s/ Lenore Hanapel
------------------------------
Name: Lenore Hanapel
Title: Senior Vice President
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
- ----------- ----------- --------------
(EX-23) Consent of KPMG LLP, E
independent auditors of Ambac
Assurance Corporation
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-71489) of EQCC Receivables Corporation and EQCC Asset Backed Corporation
(the "Registrants"), and in the Prospectus Supplement of the Registrants (the
"Prospectus Supplement"), via the Form 8-K of the Registrants dated August 17,
1999, of our report dated January 29, 1999 on the consolidated financial
statements of Ambac Assurance Corporation and subsidiaries as of December 31,
1998 and 1997, and for the three-year period ended December 31, 1998, which
report appears in the Form 10-K of Ambac Financial Group, Inc. which was filed
with the Securities and Exchange Commission on March 30, 1999, and to the
reference to our firm under the heading "Experts" in the Prospectus Supplement.
/s/ KPMG LLP
KPMG LLP
New York, New York
August 17, 1999
