<PAGE> 1
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 (date of earliest event reported) November 15 1996
-------------------------------
UCFC ACCEPTANCE CORPORATION
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its Charter)
LOUISIANA 33-77966 72-1235336
- ----------------------------- ------------- ------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
4041 ESSEN LANE, BATON ROUGE, LOUISIANA 70809
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(Registrant's Telephone Number, (504)924-6007
including area code) -------------
N/A
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
Item 5. Other Events.
UCFC Acceptance Corporation (the "Company") from time to time acts as
depositor into and sponsor of trusts (each, a "Trust"), the purpose of which is
to issue one or more series of Home Equity Loan Pass-Through Certificates (the
"Certificates"), to be issued in series (each a "Series").
The assets of each Trust will consist primarily of one or more pools
of mortgage loans and certain other mortgage-related assets which may include
fixed-or adjustable-rate home equity loans, or participations or other
beneficial interests in such home equity loans secured primarily by first or
second liens on one- to four-family residential properties ("Home Equity
Loans"). Each Series of Certificates will represent interests in the related
Trust and are not obligations of the Company. Holders of Certificates will not
have any recourse to the assets of the Company except to the limited extent
provided under the pooling and servicing agreement related to each Series of
Certificates (each, a "Pooling Agreement"). Pursuant to the Pooling Agreement
for each Series of Certificates, United Companies Lending Corporation(R) (the
"Servicer") will service the related Home Equity Loans on behalf of the
applicable Trust.
On each Distribution Date for a Series of Certificates, the related
Trustee will forward with each distribution to each holder of record of
Certificates of such Series a statement (the "Monthly Statement") setting forth
information required under the related Pooling Agreement.
Pursuant to a request for No-Action granted by the Securities and
Exchange Commission on November 12, 1993, the Servicer is filing this report on
Form 8-K on behalf of the Company.
2
<PAGE> 3
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit No.
20.1 UCFC Loan Trust 1996-A-1, Remics I, II and III, Monthly Report
to Certificateholders for the Distribution Date in November,
1996. Pages 6-8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in November,
1996. Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to Certificateholders for
the Distribution Date in November, 1996. Pages 10-11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate Insurer for
the Distribution Date in November, 1996. Page 12.
20.5 UCFC Loan Trust 1996-B, Remics I, II and III, Monthly Report
to Certificateholders for the Distribution Date in November,
1996. Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust Statement
to Certificateholders for the Distribution Date in November,
1996. Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to Certificateholders for
the Distribution Date in November, 1996. Pages 17-19.
20.8 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Remics I, II, and
III, Monthly Report to Certificateholders for the Distribution
Date in November, 1996. Pages 20-22.
20.9 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Reserve Fund Trust
Statement to Certificateholders for the Distribution Date in
November, 1996. Page 23.
20.10 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Statement to
Certificateholders for the Distribution Date in November,
1996. Pages 24-26.
3
<PAGE> 4
SIGNATURES
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 thereunto duly authorized.
UNITED COMPANIES LENDING CORPORATION(R), as Servicer
By: /s/ Sherry E. Anderson
------------------------------
Sherry E. Anderson
Secretary
Dated: November 22, 1996
4
<PAGE> 5
================================================================================
EXHIBIT INDEX
Exhibit No. Description
- ----------- -----------
20.1 UCFC Loan Trust 1996-A-1, Remics I, II and III, Monthly Report
to Certificateholders for the Distribution Date in November,
1996. Pages 6-8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in November,
1996. Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to Certificateholders for
the Distribution Date in November, 1996. Pages 10-11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate Insurer for
the Distribution Date in November, 1996. Page 12.
20.5 UCFC Loan Trust 1996-B, Remics I, II and III, Monthly Report
to Certificateholders for the Distribution Date in November,
1996. Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust Statement
to Certificateholders for the Distribution Date in November,
1996. Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to Certificateholders for
the Distribution Date in November, 1996. Pages 17-19.
20.8 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Remics I, II, and
III, Monthly Report to Certificateholders for the Distribution
Date in November, 1996. Pages 20-22.
20.9 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Reserve Fund Trust
Statement to Certificateholders for the Distribution Date in
November, 1996. Page 23.
20.10 UCFC Acceptance Corporation, Home Equity Loan Pass-Through
Certificates, Series 1996-C1 and 1996-C2, Statement to
Certificateholders for the Distribution Date in November,
1996. Pages 24-26.
5
<PAGE> 1
EXHIBIT 20.1
UCFC
UCFC LOAN TRUST
SERIES 1996-A1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1L 49,752,000.00 25,885,150.41 202,023.23 6,524,636.57 6,726,659.80 0.00 0.00 19,360,513.84
A-2L 31,412,000.00 31,412,000.00 273,318.39 0.00 273,318.39 0.00 0.00 31,412,000.00
A-3L 86,332,000.00 86,332,000.00 765,570.49 0.00 765,570.49 0.00 0.00 86,332,000.00
A-4L 27,625,000.00 27,625,000.00 247,849.17 0.00 247,849.17 0.00 0.00 27,625,000.00
A-5L 40,326,000.00 40,326,000.00 368,522.47 0.00 368,522.47 0.00 0.00 40,326,000.00
A-6L 39,704,000.00 39,704,000.00 369,455.60 0.00 369,455.60 0.00 0.00 39,704,000.00
A-7L 25,418,000.00 25,418,000.00 245,523.03 0.00 245,523.03 0.00 0.00 25,418,000.00
A-8L 24,431,000.00 24,431,000.00 241,893.34 0.00 241,893.34 0.00 0.00 24,431,000.00
R-I* 0.00 0.00 123.36 0.00 123.36 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 301,133,150.41 2,714,279.08 6,524,636.57 9,238,915.65 0.00 0.00 294,608,513.84
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1L 520.283615 4.060605 131.143202 135.203807 389.140413 8.347713% 8.347713%
A-2L 1,000.000000 8.701082 0.000000 8.701082 1,000.000000 8.347713% 8.347713%
A-3L 1,000.000000 8.867749 0.000000 8.867749 1,000.000000 8.347713% 8.347713%
A-4L 1,000.000000 8.971916 0.000000 8.971916 1,000.000000 8.347713% 8.347713%
A-5L 1,000.000000 9.138582 0.000000 9.138582 1,000.000000 8.347713% 8.347713%
A-6L 1,000.000000 9.305249 0.000000 9.305249 1,000.000000 8.347713% 8.347713%
A-7L 1,000.000000 9.659416 0.000000 9.659416 1,000.000000 8.347713% 8.347713%
A-8L 1,000.000000 9.901082 0.000000 9.901082 1,000.000000 8.347713% 8.347713%
R-I* 0.000000 0.000380 0.000000 0.000380 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 6
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-A1
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 49,752,000.00 25,885,150.41 129,965.03 6,524,636.57 6,654,601.60 0.00 0.00 19,360,513.84
A-2 31,412,000.00 31,412,000.00 156,405.58 0.00 156,405.58 0.00 0.00 31,412,000.00
A-3 86,332,000.00 86,332,000.00 444,250.08 0.00 444,250.08 0.00 0.00 86,332,000.00
A-4 27,625,000.00 27,625,000.00 145,031.25 0.00 145,031.25 0.00 0.00 27,625,000.00
A-5 40,326,000.00 40,326,000.00 218,432.50 0.00 218,432.50 0.00 0.00 40,326,000.00
A-6 39,704,000.00 39,704,000.00 221,680.67 0.00 221,680.67 0.00 0.00 39,704,000.00
A-7 25,418,000.00 25,418,000.00 150,919.38 0.00 150,919.38 0.00 0.00 25,418,000.00
A-8 24,431,000.00 24,431,000.00 150,963.22 0.00 150,963.22 0.00 0.00 24,431,000.00
EI-1 0.00 0.00 72,058.20 0.00 72,058.20 0.00 0.00 0.00
EI-2 0.00 0.00 116,912.81 0.00 116,912.81 0.00 0.00 0.00
EI-3 0.00 0.00 321,320.41 0.00 321,320.41 0.00 0.00 0.00
EI-4 0.00 0.00 102,817.92 0.00 102,817.92 0.00 0.00 0.00
EI-5 0.00 0.00 150,089.97 0.00 150,089.97 0.00 0.00 0.00
EI-6 0.00 0.00 147,774.93 0.00 147,774.93 0.00 0.00 0.00
EI-7 0.00 0.00 94,603.65 0.00 94,603.65 0.00 0.00 0.00
EI-8 0.00 0.00 90,930.12 0.00 90,930.12 0.00 0.00 0.00
R-II* 0.00 0.00 123.36 0.00 123.36 0.00 0.00 0.00
R-1* 0.00 0.00 123.36 0.00 123.36 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 301,133,150.41 2,714,402.44 6,524,636.57 9,239,039.01 0.00 0.00 294,608,513.84
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 90263BCU0 520.283615 2.612257 131.143202 133.755459 389.140413 6.025000% 6.025000%
A-2 90263BCV8 1,000.000000 4.979167 0.000000 4.979167 1,000.000000 5.975000% 5.975000%
A-3 90263BCW6 1,000.000000 5.145833 0.000000 5.145833 1,000.000000 6.175000% 6.175000%
A-4 90263BCX4 1,000.000000 5.250000 0.000000 5.250000 1,000.000000 6.300000% 6.300000%
A-5 90263BCY2 1,000.000000 5.416667 0.000000 5.416667 1,000.000000 6.500000% 6.500000%
A-6 90263BCZ9 1,000.000000 5.583333 0.000000 5.583333 1,000.000000 6.700000% 6.700000%
A-7 90263BDA3 1,000.000000 5.937500 0.000000 5.937500 1,000.000000 7.125000% 7.125000%
A-8 90263BDB1 1,000.000000 6.179167 0.000000 6.179167 1,000.000000 7.415000% 7.415000%
EI-1 0.000000 0.221718 0.000000 0.221718 0.000000 4.465957% 4.449967%
EI-2 0.000000 0.359732 0.000000 0.359732 0.000000 4.465957% 4.449967%
EI-3 0.000000 0.988678 0.000000 0.988678 0.000000 4.465957% 4.449967%
EI-4 0.000000 0.316363 0.000000 0.316363 0.000000 4.465957% 4.449967%
EI-5 0.000000 0.461815 0.000000 0.461815 0.000000 4.465957% 4.449967%
EI-6 0.000000 0.454692 0.000000 0.454692 0.000000 4.465957% 4.449967%
EI-7 0.000000 0.291088 0.000000 0.291088 0.000000 4.465957% 4.449967%
EI-8 0.000000 0.279785 0.000000 0.279785 0.000000 4.465957% 4.449967%
R-II* 0.000000 0.000380 0.000000 0.000380 0.000000 0.000000% 0.000000%
R-1* 0.000000 0.000380 0.000000 0.000380 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 7
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-A2
REMIC III
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-9 100,000,000.00 93,695,951.09 467,757.52 1,806,560.23 2,274,317.75 0.00 0.00 91,889,390.86
R-2 0.00 0.00 13.74 0.00 13.74 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 100,000,000.00 93,695,951.09 467,771.26 1,806,560.23 2,274,331.49 0.00 0.00 91,889,390.86
- ------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-9 90263BDC9 936.959511 4.677575 18.065602 22.743178 918.893909 5.797500% 5.797500%
R-2 0.000000 0.000137 0.000000 0.000137 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 8
<PAGE> 1
EXHIBIT 20.2
UCFC
UCFC Loan Trust
Series 1996-A
Reserve Fund Trust
Statement To Certificateholders
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
B 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 9
<PAGE> 1
EXHIBIT 20.3
UCFC
UCFC Loan Trust
Series 1996-A
Statement To Certificateholders
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- --------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 294,631,060.03
TOTAL PRINCIPAL: 6,524,636.57
PREPAYMENTS: 5,913,608.20
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,650,080.32
LOAN GROUP 2 PRINCIPAL BALANCE: 91,889,415.86
TOTAL PRINCIPAL: 1,806,560.23
PREPAYMENTS: 1,735,850.44
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 478,145.53
CLASS A-1 CARRY-FORWARD AMOUNT: 0.00
CLASS A-2 CARRY-FORWARD AMOUNT: 0.00
CLASS A-3 CARRY-FORWARD AMOUNT: 0.00
CLASS A-4 CARRY-FORWARD AMOUNT: 0.00
CLASS A-5 CARRY-FORWARD AMOUNT: 0.00
CLASS A-6 CARRY-FORWARD AMOUNT: 0.00
CLASS A-7 CARRY-FORWARD AMOUNT: 0.00
CLASS A-8 CARRY-FORWARD AMOUNT: 0.00
CLASS A-9 CARRY-FORWARD AMOUNT: 0.00
SUBSTITUTION AMOUNTS GROUP 1: 0.00
LOAN PURCHASE PRICES GROUP 1: 0.00
SUBSTITUTION AMOUNTS GROUP 2: 0.00
LOAN PURCHASE PRICES GROUP 2: 0.00
RESERVE ACCOUNT BALANCE: 23,190,487.74
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 125,481.54
SERVICING FEES DUE GROUP 2: 40,341.32
GUARANTEE FEES DUE GROUP 1: 0.00
GUARANTEE FEES DUE GROUP 2: 0.00
- --------------------------------------------------------------------------------
(c)COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 10
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
NET REALIZED LOSSES GROUP 1: 0.00
NET REALIZED LOSSES GROUP 2: 0.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS: 0.00
SUBORDINATED AMOUNT: 68,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- ------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 1 11,855,473.23 4,353,716.88 8,783,976.09 0.00
NUMBER OF LOANS 283 95 183 0
- ------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 2,760,458.74 1,861,350.16 2,448,147.67 0.00
NUMBER OF LOANS 45 25 29 0
- ------------------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 14,615,931.97 6,215,067.04 11,232,123.76 0.00
AGGREGATE NUMBER OF LOANS 328 120 212 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- ------------------------------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 64
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 3,145,496.99
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 12
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 899,289.07
REO LOANS - GROUP 1: 5
PRINCIPAL BALANCE OF REO LOANS - GROUP 1: 185,540.84
REO LOANS - GROUP 2: 0
PRINCIPAL BALANCE OF REO LOANS - GROUP 2: 0.00
BOOK VALUE OF REO PROPERTY: 0.00
REO PROCEEDS: 0.00
REO PROPERTY MATTERS: (SEE ATTACHMENTS IF ANY)
OTHER FORECLOSURE INFORMATION: (SEE ATTACHMENTS IF ANY)
- ------------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 11
<PAGE> 1
EXHIBIT 20.4
UCFC
UCFC LOAN TRUST
SERIES 1996-A
STATEMENT TO CERTIFICATE INSURER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
CLASS A-1 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-4 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-5 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-6 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-7 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-8 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-9 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-1 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-2 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-3 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-4 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-5 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-6 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-7 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-8 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-9 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-1 CARRY-FORWARD AMOUNT: 0.00
CLASS A-2 CARRY-FORWARD AMOUNT: 0.00
CLASS A-3 CARRY-FORWARD AMOUNT: 0.00
CLASS A-4 CARRY-FORWARD AMOUNT: 0.00
CLASS A-5 CARRY-FORWARD AMOUNT: 0.00
CLASS A-6 CARRY-FORWARD AMOUNT: 0.00
CLASS A-7 CARRY-FORWARD AMOUNT: 0.00
CLASS A-8 CARRY-FORWARD AMOUNT: 0.00
CLASS A-9 CARRY-FORWARD AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 12
<PAGE> 1
EXHIBIT 20.5
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 125,700,000.00 115,043,390.37 1,055,754.16 5,013,515.60 6,069,269.76 0.00 0.00 110,029,874.77
2 77,899,000.00 77,899,000.00 714,879.78 0.00 714,879.78 0.00 0.00 77,899,000.00
3 47,752,000.00 47,752,000.00 438,220.50 0.00 438,220.50 0.00 0.00 47,752,000.00
4 44,427,000.00 44,427,000.00 407,706.95 0.00 407,706.95 0.00 0.00 44,427,000.00
5 39,714,000.00 39,714,000.00 364,455.71 0.00 364,455.71 0.00 0.00 39,714,000.00
6 34,090,000.00 34,090,000.00 312,844.22 0.00 312,844.22 0.00 0.00 34,090,000.00
7 30,418,000.00 30,418,000.00 279,281.69 0.00 279,281.69 0.00 0.00 30,418,000.00
8 250,000,000.00 243,866,355.40 1,779,999.42 3,764,543.17 5,544,542.59 0.00 0.00 240,101,812.23
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 650,000,000.00 633,209,745.77 5,353,142.43 8,778,058.77 14,131,201.20 0.00 0.00 624,431,687.00
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 915.221880 8.398999 39.884770 48.283769 875.337110 8.912488% 8.908972%
2 1,000.000000 9.177008 0.000000 9.177008 1,000.000000 8.912488% 8.908972%
3 1,000.000000 9.177008 0.000000 9.177008 1,000.000000 8.912488% 8.908972%
4 1,000.000000 9.177008 0.000000 9.177008 1,000.000000 8.912488% 8.908972%
5 1,000.000000 9.177008 0.000000 9.177008 1,000.000000 8.912488% 8.908972%
6 1,000.000000 9.177009 0.000000 9.177009 1,000.000000 8.912488% 8.908972%
7 1,000.000000 9.181461 0.000000 9.181461 1,000.000000 8.912488% 8.908972%
8 975.465422 7.119998 15.058173 22.178170 960.407249 8.758893% 8.909647%
RI 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
COPYRIGHT 1996 Bankers Trust Company
Page 13
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 125,700,000.00 115,043,390.37 543,372.30 5,013,515.60 5,556,887.90 0.00 0.00 110,029,874.77
A-2 77,899,000.00 77,899,000.00 459,279.52 0.00 459,279.52 0.00 0.00 77,899,000.00
A-3 47,752,000.00 47,752,000.00 290,491.33 0.00 290,491.33 0.00 0.00 47,752,000.00
A-4 44,427,000.00 44,427,000.00 278,594.31 0.00 278,594.31 0.00 0.00 44,427,000.00
A-5 39,714,000.00 39,714,000.00 253,176.75 0.00 253,176.75 0.00 0.00 39,714,000.00
A-6 34,090,000.00 34,090,000.00 226,556.46 0.00 226,556.46 0.00 0.00 34,090,000.00
A-7 30,418,000.00 30,418,000.00 207,856.33 0.00 207,856.33 0.00 0.00 30,418,000.00
EI-1 0.00 0.00 512,381.86 0.00 512,381.86 0.00 0.00 0.00
EI-2 0.00 0.00 255,600.26 0.00 255,600.26 0.00 0.00 0.00
EI-3 0.00 0.00 147,729.17 0.00 147,729.17 0.00 0.00 0.00
EI-4 0.00 0.00 129,112.64 0.00 129,112.64 0.00 0.00 0.00
EI-5 0.00 0.00 111,278.96 0.00 111,278.96 0.00 0.00 0.00
EI-6 0.00 0.00 86,287.76 0.00 86,287.76 0.00 0.00 0.00
EI-7 0.00 0.00 71,425.36 0.00 71,425.36 0.00 0.00 0.00
R-1 0.00 0.00 232.97 0.00 232.97 0.00 0.00 0.00
- ----------------------------------------- ----------------------------------------------------------------------------------------
TOTALS 400,000,000.00 389,343,390.37 3,573,375.98 5,013,515.60 8,586,891.58 0.00 0.00 384,329,874.77
- ----------------------------------------- ----------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 90263BDD7 915.221880 4.322771 39.884770 44.207541 875.337110 5.485000% 5.485000%
A-2 90263BDE5 1,000.000000 5.895833 0.000000 5.895833 1,000.000000 7.075000% 7.075000%
A-3 90263BDF2 1,000.000000 6.083333 0.000000 6.083333 1,000.000000 7.300000% 7.300000%
A-4 90263BDG0 1,000.000000 6.270833 0.000000 6.270833 1,000.000000 7.525000% 7.525000%
A-5 90263BDH8 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000% 7.650000%
A-6 90263BDJ4 1,000.000000 6.645833 0.000000 6.645833 1,000.000000 7.975000% 7.975000%
A-7 90263BDK1 1,000.000000 6.833333 0.000000 6.833333 1,000.000000 8.200000% 8.200000%
EI-1 0.000000 1.280955 0.000000 1.280955 0.000000 5.344577% 5.520756%
EI-2 0.000000 0.639001 0.000000 0.639001 0.000000 3.937410% 3.930756%
EI-3 0.000000 0.369323 0.000000 0.369323 0.000000 3.712410% 3.705756%
EI-4 0.000000 0.322782 0.000000 0.322782 0.000000 3.487410% 3.480756%
EI-5 0.000000 0.278197 0.000000 0.278197 0.000000 3.362410% 3.355756%
EI-6 0.000000 0.215719 0.000000 0.215719 0.000000 3.037410% 3.030756%
EI-7 0.000000 0.178563 0.000000 0.178563 0.000000 2.812410% 2.805756%
R-1 0.000000 0.000582 0.000000 0.000582 0.000000 NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(C) COPYRIGHT 1996 Bankers Trust Company
Page 14
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-B2
REMIC III
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -------------------------- --------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-8 250,000,000.00 243,866,355.40 1,198,027.34 3,764,543.17 4,962,570.51 0.00 0.00 240,101,812.23
R-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 250,000,000.00 243,866,355.40 1,198,027.34 3,764,543.17 4,962,570.51 0.00 0.00 240,101,812.23
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-8 90263BDL9 975.465422 4.792109 15.058173 19.850282 960.407249 5.705000% 5.705000%
R-2 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 15
<PAGE> 1
EXHIBIT 20.6
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
RESERVE FUND TRUST
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A TRUST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B TRUST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
B TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: UCFC Acceptance Corporation 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 16
<PAGE> 1
EXHIBIT 20.7
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- -------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 384,370,019.07
TOTAL PRINCIPAL: 5,013,515.60
PREPAYMENTS: 4,239,322.43
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 3,611,097.51
LOAN GROUP 2 PRINCIPAL BALANCE: 240,101,812.23
TOTAL PRINCIPAL: 3,764,543.17
PREPAYMENTS: 3,578,909.74
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,803,623.98
CLASS A-1 CARRY-FORWARD AMOUNT: 0.00
CLASS A-2 CARRY-FORWARD AMOUNT: 0.00
CLASS A-3 CARRY-FORWARD AMOUNT: 0.00
CLASS A-4 CARRY-FORWARD AMOUNT: 0.00
CLASS A-5 CARRY-FORWARD AMOUNT: 0.00
CLASS A-6 CARRY-FORWARD AMOUNT: 0.00
CLASS A-7 CARRY-FORWARD AMOUNT: 0.00
CLASS A-8 CARRY-FORWARD AMOUNT: 0.00
SUBSTITUTION AMOUNTS GROUP 1: 0.00
LOAN PURCHASE PRICES GROUP 1: 0.00
SUBSTITUTION AMOUNTS GROUP 2: 0.00
LOAN PURCHASE PRICES GROUP 2: 0.00
RESERVE ACCOUNT BALANCE: 40,351,107.09
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 162,243.14
SERVICING FEES DUE GROUP 2: 101,610.98
GUARANTEE FEES DUE GROUP 1: 681,462.82
GUARANTEE FEES DUE GROUP 2: 139,673.30
- -------------------------------------------------------------------------------
(C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 17
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C>
NET REALIZED LOSSES GROUP 1: 0.00
NET REALIZED LOSSES GROUP 2: 0.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS: 0.00
SUBORDINATED AMOUNT: 97,500,000.00
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 11,802,475.80 4,444,097.44 3,805,750.04 0.00
NUMBER OF LOANS 259 94 77 0
- -----------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 4,510,013.41 1,599,613.71 1,119,676.64 0.00
NUMBER OF LOANS 63 19 10 0
- -----------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 16,312,489.21 6,043,711.15 4,925,426.68 0.00
AGGREGATE NUMBER OF LOANS 322 113 87 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 41
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 1,641,205.75
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 0.00
REO LOANS - GROUP 1: 0
PRINCIPAL BALANCE OF REO LOANS - GROUP 1: 0.00
REO LOANS - GROUP 2: 0
PRINCIPAL BALANCE OF REO LOANS - GROUP 2: 0.00
CLASS A-1 LIBOR RATE 5.485000%
CLASS A-8 LIBOR RATE 5.705000%
LIBOR INTEREST CARRYOVER PAID 0.00
LIBOR INTEREST CARRYOVER REMAINING 0.00
BOOK VALUE OF REO PROPERTY: 0.00
REO PROCEEDS: 3,044,625.00
REO PROPERTY MATTERS: (SEE ATTACHMENTS IF ANY)
OTHER FORECLOSURE INFORMATION: (SEE ATTACHMENTS IF ANY)
- -----------------------------------------------------------------------------------------------------------------------------
(C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 18
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- --------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- --------------------------------------------------------------------------------
<S> <C>
CLASS A-1 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-4 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-5 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-6 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-7 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-8 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-1 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-2 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-3 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-4 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-5 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-6 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-7 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-8 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-1 CARRY-FORWARD AMOUNT: 0.00
CLASS A-2 CARRY-FORWARD AMOUNT: 0.00
CLASS A-3 CARRY-FORWARD AMOUNT: 0.00
CLASS A-4 CARRY-FORWARD AMOUNT: 0.00
CLASS A-5 CARRY-FORWARD AMOUNT: 0.00
CLASS A-6 CARRY-FORWARD AMOUNT: 0.00
CLASS A-7 CARRY-FORWARD AMOUNT: 0.00
CLASS A-8 CARRY-FORWARD AMOUNT: 0.00
- --------------------------------------------------------------------------------
(C)COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 19
<PAGE> 1
EXHIBIT 20.8
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 95,000,000.00 94,561,152.60 672,824.89 2,517,187.33 3,190,012.22 0.00 0.00 92,043,965.27
2 46,209,000.00 46,209,000.00 328,787.93 0.00 328,787.93 0.00 0.00 46,209,000.00
3 57,161,000.00 57,161,000.00 406,713.99 0.00 406,713.99 0.00 0.00 57,161,000.00
4 57,269,000.00 57,269,000.00 407,482.43 0.00 407,482.43 0.00 0.00 57,269,000.00
5 24,060,000.00 24,060,000.00 171,192.57 0.00 171,192.57 0.00 0.00 24,060,000.00
6 20,301,000.00 20,301,000.00 144,446.40 0.00 144,446.40 0.00 0.00 20,301,000.00
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 299,561,152.60 2,131,448.21 2,517,187.33 4,648,635.54 0.00 0.00 297,043,965.27
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
1 995.380554 7.082367 26.496709 33.579076 968.883845 8.538283% 8.549448%
2 1,000.000000 7.115236 0.000000 7.115236 1,000.000000 8.538283% 8.549448%
3 1,000.000000 7.115236 0.000000 7.115236 1,000.000000 8.538283% 8.549448%
4 1,000.000000 7.115236 0.000000 7.115236 1,000.000000 8.538283% 8.549448%
5 1,000.000000 7.115236 0.000000 7.115236 1,000.000000 8.538283% 8.549448%
6 1,000.000000 7.115236 0.000000 7.115236 1,000.000000 8.538283% 8.549448%
RI 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Secutities Incorporated 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 20
<PAGE> 2
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,000,000.00 94,561,152.60 446,630.71 2,517,187.33 2,963,818.04 0.00 0.00 92,043,965.27
A-2 46,209,000.00 46,209,000.00 266,664.44 0.00 266,664.44 0.00 0.00 46,209,000.00
A-3 57,161,000.00 57,161,000.00 340,584.29 0.00 340,584.29 0.00 0.00 57,161,000.00
A-4 57,269,000.00 57,269,000.00 356,738.15 0.00 356,738.15 0.00 0.00 57,269,000.00
A-5 24,060,000.00 24,060,000.00 156,390.00 0.00 156,390.00 0.00 0.00 24,060,000.00
A-6 20,301,000.00 20,301,000.00 132,379.44 0.00 132,379.44 0.00 0.00 20,301,000.00
EI-1 0.00 0.00 240,601.62 0.00 240,601.62 0.00 0.00 0.00
EI-2 0.00 0.00 62,123.49 0.00 62,123.49 0.00 0.00 0.00
EI-3 0.00 0.00 66,129.70 0.00 66,129.70 0.00 0.00 0.00
EI-4 0.00 0.00 50,744.29 0.00 50,744.29 0.00 0.00 0.00
EI-5 0.00 0.00 14,802.57 0.00 14,802.57 0.00 0.00 0.00
EI-6 0.00 0.00 12,066.96 0.00 12,066.96 0.00 0.00 0.00
RII 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 7,551.81 0.00 7,551.81 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 299,561,152.60 2,153,407.47 2,517,187.33 4,670,594.80 0.00 0.00 297,043,965.27
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A1 90263BDM7 995.380554 4.701376 26.496709 31.198085 968.883845 5.485000% 5.485000%
A2 90263BDN5 1,000.000000 5.770833 0.000000 5.770833 1,000.000000 6.925000% 6.925000%
A3 90263BDP0 1,000.000000 5.958333 0.000000 5.958333 1,000.000000 7.150000% 7.150000%
A4 90263BDQ8 1,000.000000 6.229167 0.000000 6.229167 1,000.000000 7.475000% 7.475000%
A5 90263BDR6 1,000.000000 6.500000 0.000000 6.500000 1,000.000000 7.800000% 7.800000%
A6 90263BDS4 1,000.000000 6.520833 0.000000 6.520833 1,000.000000 7.825000% 7.825000%
EI-1 0.000000 0.802005 0.000000 0.802005 0.000000 3.053283% 3.064448%
EI-2 0.000000 0.207078 0.000000 0.207078 0.000000 1.613283% 1.624448%
EI-3 0.000000 0.220432 0.000000 0.220432 0.000000 1.388283% 1.399448%
EI-4 0.000000 0.169148 0.000000 0.169148 0.000000 1.063283% 1.074448%
EI-5 0.000000 0.049342 0.000000 0.049342 0.000000 0.738283% 0.749448%
EI-6 0.000000 0.040223 0.000000 0.040223 0.000000 0.713283% 0.724448%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R-1 0.000000 0.025173 0.000000 0.025173 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Secutities Incorporated 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 21
<PAGE> 3
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C2
REMIC III
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-7 200,000,000.00 199,822,389.82 976,493.16 1,246,115.08 2,222,608.24 0.00 0.00 198,576,274.74
R-2 0.00 0.00 22,069.72 0.00 22,069.72 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 200,000,000.00 199,822,389.82 998,562.88 1,246,115.08 2,244,677.96 0.00 0.00 198,576,274.74
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-7 90263BDT2 999.111949 4.882466 6.230575 11.113041 992.881374 5.675000% 5.675000%
R-2 0.000000 0.110349 0.000000 0.110349 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Secutities Incorporated 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 22
<PAGE> 1
EXHIBIT 20.9
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
RESERVE FUND TRUST
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A TRUST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B TRUST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
A TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
B TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 NA NA
- -----------------------------------------------------------------------------------------------------------------------------------
SELLER: UCFC Acceptance Corporation ADMINISTRATOR: Vince Valdes
SERVICER: United Companies Lending Corporation Bankers Trust Company
LEAD UNDERWRITER: Prudential Secutities Incorporated 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 15, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 23
<PAGE> 1
EXHIBIT 20.10
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 297,027,952.15
TOTAL PRINCIPAL: 2,517,187.33
PREPAYMENTS: 123,800.45
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,979,244.86
LOAN GROUP 2 PRINCIPAL BALANCE: 198,576,211.31
TOTAL PRINCIPAL: 1,246,115.08
PREPAYMENTS: 1,085,388.38
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,688,625.51
SUBSTITUTION AMOUNTS GROUP 1: 2,002,254.16
LOAN PURCHASE PRICES GROUP 1: 2,002,226.64
SUBSTITUTION AMOUNTS GROUP 2: 0.00
LOAN PURCHASE PRICES GROUP 2: 0.00
RESERVE ACCOUNT BALANCE: 14,369,679.06
SPECIFIED RESERVE ACCOUNT REQUIREMENT: 31,250,000.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS AS OF THE CURRENT PAYMENT DATE: 0.00
SUBORDINATED AMOUNT AS OF THE CURRENT PAYMENT DATE: 85,000,000.00
GROUP 1 INSURED PAYMENT RELATING TO THE CURRENT PAYMENT DATE: 0.00
GROUP 2 INSURED PAYMENT RELATING TO THE CURRENT PAYMENT DATE: 0.00
SERVICING FEES DUE GROUP 1: 125,644.75
SERVICING FEES DUE GROUP 2: 83,259.31
GUARANTEE FEES DUE GROUP 1: 702,646.93
GUARANTEE FEES DUE GROUP 2: 302,260.01
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 24
<PAGE> 2
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
GROUP 1 REALIZED LOSSES FOR THE RELATED REMITTANCE PERIOD: 0.00
GROUP 1 CUMULATIVE REALIZED LOSSES AS OF THE CURRENT PAYMENT DATE: 0.00
GROUP 2 REALIZED LOSSES FOR THE RELATED REMITTANCE PERIOD: 0.00
GROUP 2 CUMULATIVE REALIZED LOSSES AS OF THE CURRENT PAYMENT DATE: 0.00
CLASS A-1 LIBOR RATE FOR THE REALTED ACCRUAL PERIOD: 5.4850%
CLASS A-7 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD: 5.6750%
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 2,393,851.36 0.00 0.00 0.00
NUMBER OF LOANS 43 0 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 1,075,674.22 0.00 0.00 0.00
NUMBER OF LOANS 19 0 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 3,469,525.58 0.00 0.00 0.00
AGGREGATE NUMBER OF LOANS 62 0 0 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 5
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 295,531.09
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 4
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 192,307.06
REO LOANS - GROUP 1: 0
PRINCIPAL BALANCE OF REO LOANS - GROUP 1: 0.00
REO LOANS - GROUP 2: 0
PRINCIPAL BALANCE OF REO LOANS - GROUP 2: 0.00
BOOK VALUE OF REO PROPERTY, IF AVAILABLE: 0.00
REO PROCEEDS: 0.00
REO PROPERTY MATTERS: (SEE ATTACHMENTS, IF ANY)
OTHER FORECLOSURE INFORMATION: (SEE ATTACHMENTS, IF ANY)
- -----------------------------------------------------------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 25
<PAGE> 3
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
- --------------------------------------------------------------------------------
Distribution Date: November 15, 1996
- --------------------------------------------------------------------------------
<S> <C>
CLASS A-1 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-2 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-3 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-4 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-5 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-6 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-7 INTEREST SHORTFALL AMOUNT: 0.00
CLASS A-1 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-2 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-3 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-4 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-5 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-6 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-7 PRINCIPAL SHORTFALL AMOUNT: 0.00
CLASS A-1 CARRY-FORWARD AMOUNT: 0.00
CLASS A-2 CARRY-FORWARD AMOUNT: 0.00
CLASS A-3 CARRY-FORWARD AMOUNT: 0.00
CLASS A-4 CARRY-FORWARD AMOUNT: 0.00
CLASS A-5 CARRY-FORWARD AMOUNT: 0.00
CLASS A-6 CARRY-FORWARD AMOUNT: 0.00
CLASS A-7 CARRY-FORWARD AMOUNT: 0.00
- --------------------------------------------------------------------------------
(c) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
Page 26
