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<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) July 22, 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 July, 1996. Pages 6 - 8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust
Statement to Certificateholders for the Distribution
Date in July, 1996. Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to
Certificateholders for the Distribution Date in July,
1996. Pages 10 - 11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate
Insurer for the Distribution Date in July, 1996.
Page 12.
20.5 UCFC Loan Trust 1996-B-1, Remics I, II and III,
Monthly Report to Certificateholders for the
Distribution Date in July, 1996. Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust
Statement to Certificateholders for the Distribution
Date in July, 1996. Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to
Certificateholders for the Distribution Date in July,
1996. Pages 17 - 19.
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: July 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
July, 1996. Pages 6 - 8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust
Statement to Certificateholders for the Distribution Date
in July, 1996. Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to Certificateholders
for the Distribution Date in July, 1996. Pages 10 - 11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate Insurer
for the Distribution Date in July, 1996. Page 12.
20.5 UCFC Loan Trust 1996-B-1, Remics I, II and III, Monthly
Report to Certificateholders for the Distribution Date
in July, 1996. Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust
Statement to Certificateholders for the Distribution Date
in July, 1996. Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to Certificateholders
for the Distribution Date in July, 1996. Pages 17 - 19.
<PAGE> 1
UCFC Exhibit 20.1
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> <C>
A-1L 49,752,000.00 42,653,938.71 362,970.50 3,045,267.82 3,408,238.32 0.00 0.00 39,608,670.89
A-2L 31,412,000.00 31,412,000.00 274,422.37 0.00 274,422.37 0.00 0.00 31,412,000.00
A-3L 86,332,000.00 86,332,000.00 768,604.64 0.00 768,604.64 0.00 0.00 86,332,000.00
A-4L 27,625,000.00 27,625,000.00 248,820.05 0.00 248,820.05 0.00 0.00 27,625,000.00
A-5L 40,326,000.00 40,326,000.00 369,939.73 0.00 369,939.73 0.00 0.00 40,326,000.00
A-6L 39,704,000.00 39,704,000.00 370,851.01 0.00 370,851.01 0.00 0.00 39,704,000.00
A-7L 25,418,000.00 25,418,000.00 246,416.35 0.00 246,416.35 0.00 0.00 25,418,000.00
A-8L 24,431,000.00 24,431,000.00 242,751.97 0.00 242,751.97 0.00 0.00 24,431,000.00
R-I* 0.00 0.00 122.96 0.00 122.96 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 317,901,938.71 2,884,899.58 3,045,267.82 5,930,167.40 0.00 0.00 314,856,670.89
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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 857.331137 7.295596 61.208953 68.504549 796.122184 8.362610% 8.362610%
A-2L 1,000.000000 8.736227 0.000000 8.736227 1,000.000000 8.362610% 8.362610%
A-3L 1,000.000000 8.902894 0.000000 8.902894 1,000.000000 8.362610% 8.362610%
A-4L 1,000.000000 9.007061 0.000000 9.007061 1,000.000000 8.362610% 8.362610%
A-5L 1,000.000000 9.173727 0.000000 9.173727 1,000.000000 8.362610% 8.362610%
A-6L 1,000.000000 9.340394 0.000000 9.340394 1,000.000000 8.362610% 8.362610%
A-7L 1,000.000000 9.694561 0.000000 9.694561 1,000.000000 8.362610% 8.362610%
A-8L 1,000.000000 9.936227 0.000000 9.936227 1,000.000000 8.362610% 8.362610%
R-I* 0.000000 0.000378 0.000000 0.000378 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 6 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<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> <C>
A-1 49,752,000.00 42,653,938.71 214,158.32 3,045,267.82 3,259,426.14 0.00 0.00 39,608,670.89
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 0.00 148,812.18 0.00 148,812.18 0.00 0.00 0.00
EI-2 0.00 0.00 118,016.79 0.00 118,016.79 0.00 0.00 0.00
EI-3 0.00 0.00 324,354.56 0.00 324,354.56 0.00 0.00 0.00
EI-4 0.00 0.00 103,788.80 0.00 103,788.80 0.00 0.00 0.00
EI-5 0.00 0.00 151,507.23 0.00 151,507.23 0.00 0.00 0.00
EI-6 0.00 0.00 149,170.34 0.00 149,170.34 0.00 0.00 0.00
EI-7 0.00 0.00 95,496.97 0.00 95,496.97 0.00 0.00 0.00
EI-8 0.00 0.00 91,788.75 0.00 91,788.75 0.00 0.00 0.00
R-II* 0.00 0.00 122.96 0.00 122.96 0.00 0.00 0.00
R-1* 0.00 0.00 122.96 0.00 122.96 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 317,901,938.71 2,885,022.54 3,045,267.82 5,930,290.36 0.00 0.00 314,856,670.89
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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> <C>
A-1 90263BCU0 857.331137 4.304517 61.208953 65.513470 796.122184 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 0.457884 0.000000 0.457884 0.000000 4.508150% 4.499956%
EI-2 0.000000 0.363129 0.000000 0.363129 0.000000 4.508150% 4.499956%
EI-3 0.000000 0.998014 0.000000 0.998014 0.000000 4.508150% 4.499956%
EI-4 0.000000 0.319350 0.000000 0.319350 0.000000 4.508150% 4.499956%
EI-5 0.000000 0.466176 0.000000 0.466176 0.000000 4.508150% 4.499956%
EI-6 0.000000 0.458986 0.000000 0.458986 0.000000 4.508150% 4.499956%
EI-7 0.000000 0.293837 0.000000 0.293837 0.000000 4.508150% 4.499956%
EI-8 0.000000 0.282427 0.000000 0.282427 0.000000 4.508150% 4.499956%
R-II* 0.000000 0.000378 0.000000 0.000378 0.000000 0.000000% 0.000000%
R-1* 0.000000 0.000378 0.000000 0.000378 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 7 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 3
UCFC
UCFC Loan Trust
Series 1996-A1
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> <C>
A-9 100,000,000.00 98,109,246.89 479,100.16 1,317,820.91 1,796,921.07 0.00 0.00 96,791,425.98
R-2 0.00 0.00 9.73 0.00 9.73 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 100,000,000.00 98,109,246.89 479,109.89 1,317,820.91 1,796,930.80 0.00 0.00 96,791,425.98
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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> <C>
A-9 90263BDC9 981.092469 4.791002 13.178209 17.969211 967.914260 5.860000% 5.860000%
R-2 0.000000 0.000097 0.000000 0.000097 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 8 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 1
UCFC Exhibit 20.2
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> <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
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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 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%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 9 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 1
UCFC Exhibit 20.3
UCFC Loan Trust
Series 1996-A
Statement To Certificateholders
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 314,879,217.08
TOTAL PRINCIPAL: 3,045,267.82
PREPAYMENTS: 2,469,387.09
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,736,072.34
LOAN GROUP 2 PRINCIPAL BALANCE: 96,791,450.98
TOTAL PRINCIPAL: 1,317,820.91
PREPAYMENTS: 1,241,776.89
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 489,626.59
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: 17,247,452.43
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 132,468.54
SERVICING FEES DUE GROUP 2: 40,878.86
GUARANTEE FEES DUE GROUP 1: 0.00
GUARANTEE FEES DUE GROUP 2: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 10 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 2
UCFC
UCFC Loan Trust
Series 1996-A
Statement To Certificateholders
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <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: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- ------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 1 4,662,662.94 1,901,838.96 1,041,743.46 0.00
NUMBER OF LOANS 103 41 20 0
- ------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 1,020,649.76 253,666.70 308,032.23 0.00
NUMBER OF LOANS 18 3 2 0
- ------------------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 5,683,312.70 2,155,505.66 1,349,775.69 0.00
AGGREGATE NUMBER OF LOANS 121 44 22 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- ------------------------------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 16
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 914,485.17
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
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)
- ------------------------------------------------------------------------------------------------------------------------------------
Page 11 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 1
Exhibit 20.4
UCFC
UCFC Loan Trust
Series 1996-A
Statement To Certificate Insurer
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 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
- ------------------------------------------------------------------------------------------------------------------------------------
Page 12 (C) COPYRIGHT 1996 BANKERS TRUST COMPANY
</TABLE>
<PAGE> 1
UCFC EXHIBIT 20.5
UCFC LOAN TRUST
SERIES 1996-B1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1 125,700,000.00 125,700,000.00 848,955.79 937,896.04 1,786,851.83
2 77,899,000.00 77,899,000.00 576,663.31 0.00 576,663.31
3 47,752,000.00 47,752,000.00 358,188.71 0.00 358,188.71
4 44,427,000.00 44,427,000.00 337,615.66 0.00 337,615.66
5 39,714,000.00 39,714,000.00 303,969.16 0.00 303,969.16
6 34,090,000.00 34,090,000.00 265,764.47 0.00 265,764.47
7 30,418,000.00 30,418,000.00 240,128.23 0.00 240,128.23
8 250,000,000.00 250,000,000.00 1,776,526.84 1,090,216.40 2,866,743.24
RI 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------
TOTALS 650,000,000.00 650,000,000.00 4,707,812.17 2,028,112.44 6,735,924.61
- ----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS LOSSES INTEREST BALANCE
- -------------------------------------------------------------
<S> <C> <C> <C> <C>
1 0.00 0.00 124,762,103.96
2 0.00 0.00 77,899,000.00
3 0.00 0.00 47,752,000.00
4 0.00 0.00 44,427,000.00
5 0.00 0.00 39,714,000.00
6 0.00 0.00 34,090,000.00
7 0.00 0.00 30,418,000.00
8 0.00 0.00 248,909,783.60
RI 0.00 0.00 0.00
- -------------------------------------------------------------
TOTALS 0.00 0.00 647,971,887.56
- -------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 1,000.000000 6.753825 7.461385 14.215209 992.538615
2 1,000.000000 7.402705 0.000000 7.402705 1,000.000000
3 1,000.000000 7.501020 0.000000 7.501020 1,000.000000
4 1,000.000000 7.599335 0.000000 7.599335 1,000.000000
5 1,000.000000 7.653955 0.000000 7.653955 1,000.000000
6 1,000.000000 7.795966 0.000000 7.795966 1,000.000000
7 1,000.000000 7.894281 0.000000 7.894281 1,000.000000
8 1,000.000000 7.106107 4.360866 11.466973 995.639134
RI 0.000000 0.000000 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------
PASS-THROUGH
RATES
CLASS CURRENT NEXT
- ------------------------------------------------------------------
<S> <C> <C>
1 9.215094% 8.857941%
2 9.215094% 8.857941%
3 9.215094% 8.857941%
4 9.215094% 8.857941%
5 9.215094% 8.857941%
6 9.215094% 8.857941%
7 9.215094% 8.857941%
8 8.527329% 8.686364%
RI NA NA
- ------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 13 (R) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 125,700,000.00 125,700,000.00 585,552.50 937,896.04 1,523,448.54
A-2 77,899,000.00 77,899,000.00 459,279.52 0.00 459,279.52
A-3 47,752,000.00 47,752,000.00 290,491.33 0.00 290,491.33
A-4 44,427,000.00 44,427,000.00 278,594.31 0.00 278,594.31
A-5 39,714,000.00 39,714,000.00 253,176.75 0.00 253,176.75
A-6 34,090,000.00 34,090,000.00 226,556.46 0.00 226,556.46
A-7 30,418,000.00 30,418,000.00 207,856.33 0.00 207,856.33
EI-1 0.00 0.00 263,403.29 0.00 263,403.29
EI-2 0.00 0.00 117,383.79 0.00 117,383.79
EI-3 0.00 0.00 67,697.38 0.00 67,697.38
EI-4 0.00 0.00 59,021.35 0.00 59,021.35
EI-5 0.00 0.00 50,792.41 0.00 50,792.41
EI-6 0.00 0.00 39,208.01 0.00 39,208.01
EI-7 0.00 0.00 32,271.90 0.00 32,271.90
R-1 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 400,000,000.00 2,931,285.33 937,896.04 3,869,181.37
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS LOSSES INTEREST BALANCE
- -------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 0.00 0.00 124,762,103.96
A-2 0.00 0.00 77,899,000.00
A-3 0.00 0.00 47,752,000.00
A-4 0.00 0.00 44,427,000.00
A-5 0.00 0.00 39,714,000.00
A-6 0.00 0.00 34,090,000.00
A-7 0.00 0.00 30,418,000.00
EI-1 0.00 0.00 0.00
EI-2 0.00 0.00 0.00
EI-3 0.00 0.00 0.00
EI-4 0.00 0.00 0.00
EI-5 0.00 0.00 0.00
EI-6 0.00 0.00 0.00
EI-7 0.00 0.00 0.00
R-1 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 399,062,103.96
- -------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 90263BDD7 1,000.000000 4.658333 7.461385 12.119718 992.538615
A-2 90263BDE5 1,000.000000 5.895833 0.000000 5.895833 1,000.0000000
A-3 90263BDF2 1,000.000000 6.083333 0.000000 6.083333 1,000.0000000
A-4 90263BDG0 1,000.000000 6.270833 0.000000 6.270833 1,000.0000000
A-5 90263BDH8 1,000.000000 6.375000 0.000000 6.375000 1,000.0000000
A-6 90263BDJ4 1,000.000000 6.645833 0.000000 6.645833 1,000.0000000
A-7 90263BDK1 1,000.000000 6.833333 0.000000 6.833333 1,000.0000000
EI-1 0.000000 0.658508 0.000000 0.658508 0.0000000
EI-2 0.000000 0.293459 0.000000 0.293459 0.0000000
EI-3 0.000000 0.169243 0.000000 0.169243 0.0000000
EI-4 0.000000 0.147553 0.000000 0.147553 0.0000000
EI-5 0.000000 0.126981 0.000000 0.126981 0.0000000
EI-6 0.000000 0.098020 0.000000 0.098020 0.0000000
EI-7 0.000000 0.080680 0.000000 0.080680 0.0000000
R-1 0.000000 0.000000 0.000000 0.000000 0.000000
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------
PASS-THROUGH
RATES
CLASS CURRENT NEXT
- ---------------------------------------------------------------
<S> <C> <C>
A-1 5.590000% 5.610000%
A-2 7.075000% 7.075000%
A-3 7.300000% 7.300000%
A-4 7.525000% 7.525000%
A-5 7.650000% 7.650000%
A-6 7.975000% 7.975000%
A-7 8.200000% 8.200000%
EI-1 5.286612% 5.374920%
EI-2 3.801612% 3.909920%
EI-3 3.576612% 3.684920%
EI-4 3.351612% 3.459920%
EI-5 3.226612% 3.334920%
EI-6 2.901612% 3.009920%
EI-7 2.676612% 2.784920%
R-1 NA NA
- ---------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 14 (R) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
REMIC III
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-8 250,000,000.00 250,000,000.00 1,210,416.67 1,090,216.40 2,300,633.07
R-2 0.00 0.00 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------
TOTALS 250,000,000.00 250,000,000.00 1,210,416.67 1,090,216.40 2,300,633.07
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS LOSSES INTEREST BALANCE
- --------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-8 0.00 0.00 248,909,783.60
R-2 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 248,909,783.60
- --------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-8 90263BDL9 1,000.000000 4.841667 4.360866 9.202532 995.639134
R-2 0.000000 0.000000 0.000000 0.000000 0.000000
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------
PASS-THROUGH
RATES
CLASS CURRENT NEXT
- ---------------------------------------------------------------
<S> <C> <C>
A-8 5.810000% 5.830000%
R-2 NA NA
- ---------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 15 (R) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 1
UCFC EXHIBIT 20.6
UCFC LOAN TRUST
SERIES 1996-B1
RESERVE FUND TRUST
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A TRUST 0.00 0.00 0.00 0.00 0.00
B TRUST 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS LOSSES INTEREST BALANCE
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A TRUST 0.00 0.00 0.00
B TRUST 0.00 0.00 0.00
- --------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00
- --------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A TRUST 0.000000 0.000000 0.000000 0.000000 0.000000
B TRUST 0.000000 0.000000 0.000000 0.000000 0.000000
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------
PASS-THROUGH
RATES
CLASS CURRENT NEXT
- --------------------------------------------------------------------
<S> <C> <C>
A TRUST NA NA
B TRUST NA NA
- --------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C> <C>
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: June 28, 1996 Irvine, CA 92714
DISTRIBUTION DATE: July 15, 1996 FACTOR INFORMATION: (800) 735-7777
Page 16 (R) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 1
UCFC EXHIBIT 20.7
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1996
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 353,028,633.87
TOTAL PRINCIPAL: 937,896.04
PREPAYMENTS: 795,782.64
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,588,566.70
LOAN GROUP 2 PRINCIPAL BALANCE: 248,909,500.27
TOTAL PRINCIPAL: 1,090,216.40
PREPAYMENTS: 951,243.48
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,658,964.13
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: 24,302,839.25
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 112,637.74
SERVICING FEES DUE GROUP 2: 90,717.44
GUARANTEE FEES DUE GROUP 1: 490,101.25
GUARANTEE FEES DUE GROUP 2: 118,324.38
- ----------------------------------------------------------------------------------------------------------------------------------
Page 17 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 15, 1996
- -------------------------------------------------------------------------------------------------------------------------------
<S> <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: 97,500,000.00
- -------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- -------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 1 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
- -------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
- -------------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
AGGREGATE NUMBER OF LOANS 0 0 0 0
- -------------------------------------------------------------------------------------------------------------------------------
Note: Quantity and Principal Balance of Foreclosures
are Included in the Delinquency Figures.
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 0
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 0.00
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 5.590000%
CLASS A-8 LIBOR RATE 5.810000%
LIBOR INTEREST CARRYOVER PAID 0.00
LIBOR INTEREST CARRYOVER REMAINING 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)
- -------------------------------------------------------------------------------------------------------------------------------
Page 18 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------
Distribution Date: July 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
- -----------------------------------------------------------------------
Page 19 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
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