<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) December 16, 1996
--------------------------------
UCFC ACCEPTANCE CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its Charter)
LOUISIANA 333-07081 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
<TABLE>
<CAPTION>
Exhibit No.
-----------
<S> <C>
20.1 UCFC Loan Trust 1996-A, Remics I, II and III, Monthly Report to
Certificateholders for the Distribution Date in December, 1996.
Pages 6-8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in December, 1996.
Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to Certificateholders for the
Distribution Date in December, 1996. Pages 10-11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate Insurer for the
Distribution Date in December, 1996. Page 12.
20.5 UCFC Loan Trust 1996-B, Remics I, II and III, Monthly Report to
Certificateholders for the Distribution Date in December, 1996.
Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in December, 1996.
Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to Certificateholders for the
Distribution Date in December, 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
December, 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
December, 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 December, 1996.
Pages 24-26.
</TABLE>
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: January 8, 1997
4
<PAGE> 5
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description
- ----------- -----------
<S> <C>
20.1 UCFC Loan Trust 1996-A, Remics I, II and III, Monthly Report to
Certificateholders for the Distribution Date in December, 1996.
Pages 6-8.
20.2 UCFC Loan Trust Series 1996-A, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in December, 1996.
Page 9.
20.3 UCFC Loan Trust 1996-A, Statement to Certificateholders for the
Distribution Date in December, 1996. Pages 10-11.
20.4 UCFC Loan Trust 1996-A, Statement To Certificate Insurer for the
Distribution Date in December, 1996. Page 12.
20.5 UCFC Loan Trust 1996-B, Remics I, II and III, Monthly Report to
Certificateholders for the Distribution Date in December, 1996.
Pages 13-15.
20.6 UCFC Loan Trust Series 1996-B-1, Reserve Fund Trust Statement to
Certificateholders for the Distribution Date in December, 1996.
Page 16.
20.7 UCFC Loan Trust 1996-B-1, Statement to Certificateholders for the
Distribution Date in December, 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
December, 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
December, 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 December, 1996.
Pages 24-26.
</TABLE>
5
<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>
A-1L 49,752,000.00 19,360,513.84 147,919.70 5,685,850.08 5,833,769.78 0.00 0.00 13,674,663.76
A-2L 31,412,000.00 31,412,000.00 272,899.98 0.00 272,899.98 0.00 0.00 31,412,000.00
A-3L 86,332,000.00 86,332,000.00 764,420.54 0.00 764,420.54 0.00 0.00 86,332,000.00
A-4L 27,625,000.00 27,625,000.00 247,481.20 0.00 247,481.20 0.00 0.00 27,625,000.00
A-5L 40,326,000.00 40,326,000.00 367,985.32 0.00 367,985.32 0.00 0.00 40,326,000.00
A-6L 39,704,000.00 39,704,000.00 368,926.74 0.00 368,926.74 0.00 0.00 39,704,000.00
A-7L 25,418,000.00 25,418,000.00 245,184.46 0.00 245,184.46 0.00 0.00 25,418,000.00
A-8L 24,431,000.00 24,431,000.00 241,567.91 0.00 241,567.91 0.00 0.00 24,431,000.00
R-I* 0.00 0.00 123.55 0.00 123.55 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 294,608,513.84 2,656,509.40 5,685,850.08 8,342,359.48 0.00 0.00 288,922,663.76
- ------------------------------------------------------------------------------------------------------------------------
</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>
A-1L 389.140413 2.973141 114.283849 117.256990 274.856564 8.342677% 8.342677%
A-2L 1,000.000000 8.687762 0.000000 8.687762 1,000.000000 8.342677% 8.342677%
A-3L 1,000.000000 8.854429 0.000000 8.854429 1,000.000000 8.342677% 8.342677%
A-4L 1,000.000000 8.958595 0.000000 8.958595 1,000.000000 8.342677% 8.342677%
A-5L 1,000.000000 9.125262 0.000000 9.125262 1,000.000000 8.342677% 8.342677%
A-6L 1,000.000000 9.291929 0.000000 9.291929 1,000.000000 8.342677% 8.342677%
A-7L 1,000.000000 9.646096 0.000000 9.646096 1,000.000000 8.342677% 8.342677%
A-8L 1,000.000000 9.887762 0.000000 9.887762 1,000.000000 8.342677% 8.342677%
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6
(C) COPYRIGHT 1996 Bankers Trust Company
<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 19,360,513.84 97,205.91 5,685,850.08 5,783,055.99 0.00 0.00 13,674,663.76
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 50,713.79 0.00 50,713.79 0.00 0.00 0.00
EI-2 0.00 0.00 116,494.40 0.00 116,494.40 0.00 0.00 0.00
EI-3 0.00 0.00 320,170.46 0.00 320,170.46 0.00 0.00 0.00
EI-4 0.00 0.00 102,449.95 0.00 102,449.95 0.00 0.00 0.00
EI-5 0.00 0.00 149,552.82 0.00 149,552.82 0.00 0.00 0.00
EI-6 0.00 0.00 147,246.07 0.00 147,246.07 0.00 0.00 0.00
EI-7 0.00 0.00 94,265.08 0.00 94,265.08 0.00 0.00 0.00
EI-8 0.00 0.00 90,604.69 0.00 90,604.69 0.00 0.00 0.00
R-II* 0.00 0.00 123.55 0.00 123.55 0.00 0.00 0.00
R-1* 0.00 0.00 123.55 0.00 123.55 0.00 0.00 0.00
*Note: The Class R-1 represents the beneficial ownership of the R-I and R-II Interests.
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 294,608,513.84 2,656,632.95 5,685,850.08 8,342,483.03 0.00 0.00 288,922,663.76
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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-1 90263BCU0 389.140413 1.953809 114.283849 116.237659 274.856564 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 0.156042 0.000000 0.156042 0.000000 4.449967% 4.436797%
EI-2 0.000000 0.358444 0.000000 0.358444 0.000000 4.449967% 4.436797%
EI-3 0.000000 0.985140 0.000000 0.985140 0.000000 4.449967% 4.436797%
EI-4 0.000000 0.315231 0.000000 0.315231 0.000000 4.449967% 4.436797%
EI-5 0.000000 0.460163 0.000000 0.460163 0.000000 4.449967% 4.436797%
EI-6 0.000000 0.453065 0.000000 0.453065 0.000000 4.449967% 4.436797%
EI-7 0.000000 0.290046 0.000000 0.290046 0.000000 4.436797% 4.436797%
EI-8 0.000000 0.278784 0.000000 0.278784 0.000000 4.436797% 4.436797%
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7
(C) COPYRIGHT 1996 Bankers Trust Company
<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 91,889,390.86 443,940.62 2,530,851.43 2,974,792.05 0.00 0.00 89,358,539.43
R-2 0.00 0.00 18.58 0.00 18.58 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 100,000,000.00 91,889,390.86 443,959.20 2,530,851.43 2,974,810.63 0.00 0.00 89,358,539.43
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<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-9 90263BDC9 918.893909 4.439406 25.308514 29.747921 893.585394 5.797500% 6.047500%
R-2 0.000000 0.000186 0.000000 0.000186 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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 8
(C) COPYRIGHT 1996 Bankers Trust Company
<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>
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
RATES
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------
<S> <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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 9
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 1
UCFC EXHIBIT 20.3
UCFC LOAN TRUST
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Distribution Date: December 16, 1996
- ------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 288,945,209.95
TOTAL PRINCIPAL: 5,685,850.08
PREPAYMENTS: 5,008,232.50
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,616,621.34
LOAN GROUP 2 PRINCIPAL BALANCE: 89,358,564.43
TOTAL PRINCIPAL: 2,530,851.43
PREPAYMENTS: 2,472,955.34
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 453,799.71
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: 24,617,231.14
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 122,762.94
SERVICING FEES DUE GROUP 2: 38,287.26
GUARANTEE FEES DUE GROUP 1: 0.00
GUARANTEE FEES DUE GROUP 2: 0.00
- ------------------------------------------------------------------------------
</TABLE>
Page 10
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-A
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------
Distribution Date: December 16, 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: 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 12,482,284.30 5,606,985.69 10,590,653.69 0.00
NUMBER OF LOANS 299 116 224 0
- --------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 3,922,840.98 908,643.35 3,753,640.95 0.00
NUMBER OF LOANS 61 16 49 0
- --------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 16,405,125.28 6,515,629.04 14,344,294.64 0.00
AGGREGATE NUMBER OF LOANS 360 132 273 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- --------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 75
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 3,621,444.34
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 14
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 1,029,264.83
REO LOANS - GROUP 1: 7
PRINCIPAL BALANCE OF REO LOANS - GROUP 1: 255,284.90
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)
- --------------------------------------------------------------------------------------------------------------
</TABLE>
Page 11
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 1
UCFC EXHIBIT 20.4
UCFC LOAN TRUST
SERIES 1996-A
STATEMENT TO CERTIFICATE INSURER
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Distribution Date: December 16, 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
- ------------------------------------------------------------------------------
</TABLE>
Page 12
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 1
UCFC EXHIBIT 20.5
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>
1 125,700,000.00 110,029,874.77 1,009,134.95 5,108,166.88 6,117,301.83 0.00 0.00 104,921,707.89
2 77,899,000.00 77,899,000.00 714,447.81 0.00 714,447.81 0.00 0.00 77,899,000.00
3 47,752,000.00 47,752,000.00 437,955.71 0.00 437,955.71 0.00 0.00 47,752,000.00
4 44,427,000.00 44,427,000.00 407,460.59 0.00 407,460.59 0.00 0.00 44,427,000.00
5 39,714,000.00 39,714,000.00 364,235.49 0.00 364,235.49 0.00 0.00 39,714,000.00
6 34,090,000.00 34,090,000.00 312,655.18 0.00 312,655.18 0.00 0.00 34,090,000.00
7 30,418,000.00 30,418,000.00 279,113.98 0.00 279,113.98 0.00 0.00 30,418,000.00
8 250,000,000.00 240,101,812.23 1,782,685.38 2,915,256.67 4,697,942.05 0.00 0.00 237,186,555.56
RI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 650,000,000.00 624,431,687.00 5,307,689.09 8,023,423.55 13,331,112.64 0.00 0.00 616,408,263.45
- ------------------------------------------------------------------------------------------------------------------------
</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>
1 875.337110 8.028122 40.637764 48.665886 834.699347 8.908972% 8.909368%
2 1,000.000000 9.171463 0.000000 9.171463 1,000.000000 8.908972% 8.909368%
3 1,000.000000 9.171463 0.000000 9.171463 1,000.000000 8.908972% 8.909368%
4 1,000.000000 9.171463 0.000000 9.171463 1,000.000000 8.908972% 8.909368%
5 1,000.000000 9.171463 0.000000 9.171463 1,000.000000 8.908972% 8.909368%
6 1,000.000000 9.171463 0.000000 9.171463 1,000.000000 8.908972% 8.909368%
7 1,000.000000 9.175948 0.000000 9.175948 1,000.000000 8.908972% 8.909368%
8 960.407249 7.130742 11.661027 18.791768 948.746222 8.909647% 9.066007%
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 13
(C) COPYRIGHT 1996 Bankers Trust Company
<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-1 125,700,000.00 110,029,874.77 502,928.22 5,108,166.88 5,611,095.10 0.00 0.00 104,921,707.89
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 0.00 506,206.73 0.00 506,206.73 0.00 0.00 0.00
EI-2 0.00 0.00 255,168.29 0.00 255,168.29 0.00 0.00 0.00
EI-3 0.00 0.00 147,464.38 0.00 147,464.38 0.00 0.00 0.00
EI-4 0.00 0.00 128,866.28 0.00 128,866.28 0.00 0.00 0.00
EI-5 0.00 0.00 111,058.74 0.00 111,058.74 0.00 0.00 0.00
EI-6 0.00 0.00 86,098.72 0.00 86,098.72 0.00 0.00 0.00
EI-7 0.00 0.00 71,257.65 0.00 71,257.65 0.00 0.00 0.00
R-1 0.00 0.00 231.77 0.00 231.77 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 384,329,874.77 3,525,235.48 5,108,166.88 8,633,402.36 0.00 0.00 379,221,707.89
- ------------------------------------------------------------------------------------------------------------------------
</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-1 90263BDD7 875.337110 4.001020 40.637764 44.638784 834.699347 5.485000% 5.735000%
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 1.265517 0.000000 1.265517 0.000000 5.520756% 5.269545%
EI-2 0.000000 0.637921 0.000000 0.637921 0.000000 3.930756% 3.929545%
EI-3 0.000000 0.368661 0.000000 0.368661 0.000000 3.705756% 3.704545%
EI-4 0.000000 0.322166 0.000000 0.322166 0.000000 3.480756% 3.479545%
EI-5 0.000000 0.277647 0.000000 0.277647 0.000000 3.355756% 3.354545%
EI-6 0.000000 0.215247 0.000000 0.215247 0.000000 3.030756% 3.029545%
EI-7 0.000000 0.178144 0.000000 0.178144 0.000000 2.805756% 2.804545%
R-1 0.000000 0.000579 0 0.000579 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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 14
(C) COPYRIGHT 1996 Bankers Trust Company
<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-8 250,000,000.00 240,101,812.23 1,141,484.03 2,915,256.67 4,056,740.70 0.00 0.00 237,186,555.56
R-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 250,000,000.00 240,101,812.23 1,141,484.03 2,915,256.67 4,056,740.70 0.00 0.00 237,186,555.56
- ------------------------------------------------------------------------------------------------------------------------
</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-8 90263BDL9 960.407249 4.565936 11.661027 16.226963 948.746222 5.705000% 5.955000%
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 15
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 1
UCFC EXHIBIT 20.6
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
- ------------------------------------------------------------------------------------------------------------------------
</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>
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 16
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 1
UCFC EXHIBIT 20.7
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Distribution Date: December 16, 1996
- ------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 379,261,852.19
TOTAL PRINCIPAL: 5,108,166.88
PREPAYMENTS: 4,208,105.98
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 3,562,471.33
LOAN GROUP 2 PRINCIPAL BALANCE: 237,186,555.56
TOTAL PRINCIPAL: 2,915,256.67
PREPAYMENTS: 2,700,432.43
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,805,945.23
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: 42,478,251.13
INSURED PAYMENT GROUP 1: 0.00
INSURED PAYMENT GROUP 2: 0.00
SERVICING FEES DUE GROUP 1: 160,154.17
SERVICING FEES DUE GROUP 2: 100,042.43
GUARANTEE FEES DUE GROUP 1: 671,684.25
GUARANTEE FEES DUE GROUP 2: 153,888.32
- ------------------------------------------------------------------------------
</TABLE>
Page 17
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 2
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------
Distribution Date: December 16, 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 14,039,722.18 6,751,507.58 5,870,192.60 0.00
NUMBER OF LOANS 315 137 128 0
- ------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 7,473,768.83 1,733,043.37 1,803,321.54 0.00
NUMBER OF LOANS 85 24 24 0
- ------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 21,513,491.01 8,484,550.95 7,673,514.14 0.00
AGGREGATE NUMBER OF LOANS 400 161 152 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- ------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 49
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 1,828,276.49
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 17
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 1,329,780.50
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: 3,878,926.00
REO PROPERTY MATTERS: (SEE ATTACHMENTS IF ANY)
OTHER FORECLOSURE INFORMATION: (SEE ATTACHMENTS IF ANY)
- ------------------------------------------------------------------------------------------------------
</TABLE>
Page 18
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 3
UCFC
UCFC LOAN TRUST
SERIES 1996-B1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Distribution Date: December 16, 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
- ------------------------------------------------------------------------------
</TABLE>
Page 19
(C) COPYRIGHT 1996 Bankers Trust Company
<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
- -------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C> <C>
1 95,000,000.00 92,043,965.27 655,770.90 2,490,701.78 3,146,472.68 0.00 0.00 89,553,263.49
2 46,209,000.00 46,209,000.00 329,217.86 0.00 329,217.86 0.00 0.00 46,209,000.00
3 57,161,000.00 57,161,000.00 407,245.82 0.00 407,245.82 0.00 0.00 57,161,000.00
4 57,269,000.00 57,269,000.00 408,015.27 0.00 408,015.27 0.00 0.00 57,269,000.00
5 24,060,000.00 24,060,000.00 171,416.43 0.00 171,416.43 0.00 0.00 24,060,000.00
6 20,301,000.00 20,301,000.00 144,635.28 0.00 144,635.28 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 300,000,000.00 297,043,965.27 2,116,301.56 2,490,701.78 4,607,003.34 0.00 0.00 294,553,263.49
- -------------------------------------------------------------------------------------------------------------------------
</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
- -------------------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C> <C> <C>
1 968.883845 6.902852 26.217913 33.120765 942.665931 8.549448% 8.546070%
2 1,000.000000 7.124540 0.000000 7.124540 1,000.000000 8.549448% 8.546070%
3 1,000.000000 7.124540 0.000000 7.124540 1,000.000000 8.549448% 8.546070%
4 1,000.000000 7.124540 0.000000 7.124540 1,000.000000 8.549448% 8.546070%
5 1,000.000000 7.124540 0.000000 7.124540 1,000.000000 8.549448% 8.546070%
6 1,000.000000 7.124540 0.000000 7.124540 1,000.000000 8.549448% 8.546070%
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 20
(C) COPYRIGHT 1996 Bankers Trust Company
<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 92,043,965.27 420,717.62 2,490,701.78 2,911,419.40 0.00 0.00 89,553,263.49
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 0.00 235,053.27 0.00 235,053.27 0.00 0.00 0.00
EI-2 0.00 0.00 62,553.42 0.00 62,553.42 0.00 0.00 0.00
EI-3 0.00 0.00 66,661.53 0.00 66,661.53 0.00 0.00 0.00
EI-4 0.00 0.00 51,277.13 0.00 51,277.13 0.00 0.00 0.00
EI-5 0.00 0.00 15,026.43 0.00 15,026.43 0.00 0.00 0.00
EI-6 0.00 0.00 12,255.85 0.00 12,255.85 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 0.00 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 297,043,965.27 2,116,301.57 2,490,701.78 4,607,003.35 0.00 0.00 294,553,263.49
- -------------------------------------------------------------------------------------------------------------------------
</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-1 90263BDM7 968.883845 4.428607 26.217913 30.646520 942.665931 5.485000% 5.735000%
A-2 90263BDN5 1,000.000000 5.770833 0.000000 5.770833 1,000.000000 6.925000% 6.925000%
A-3 90263BDP0 1,000.000000 5.958333 0.000000 5.958333 1,000.000000 7.150000% 7.150000%
A-4 90263BDQ8 1,000.000000 6.229167 0.000000 6.229167 1,000.000000 7.475000% 7.475000%
A-5 90263BDR6 1,000.000000 6.500000 0.000000 6.500000 1,000.000000 7.800000% 7.800000%
A-6 90263BDS4 1,000.000000 6.520833 0.000000 6.520833 1,000.000000 7.825000% 7.825000%
EI-1 0.000000 0.783511 0.000000 0.783511 0.000000 3.064448% 2.811070%
EI-2 0.000000 0.208511 0.000000 0.208511 0.000000 1.624448% 1.621070%
EI-3 0.000000 0.222205 0.000000 0.222205 0.000000 1.399448% 1.396070%
EI-4 0.000000 0.170924 0.000000 0.170924 0.000000 1.074448% 1.071070%
EI-5 0.000000 0.050088 0.000000 0.050088 0.000000 0.749448% 0.746070%
EI-6 0.000000 0.040853 0.000000 0.040853 0.000000 0.724448% 0.721070%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
R-1 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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 21
(C) COPYRIGHT 1996 Bankers Trust Company
<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-7 200,000,000.00 198,576,274.74 939,100.30 2,570,070.10 3,509,170.40 0.00 0.00 196,006,204.64
R-2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
TOTALS 200,000,000.00 198,576,274.74 939,100.30 2,570,070.10 3,509,170.40 0.00 0.00 196,006,204.64
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR RATES
PRINCIPAL CURRENT
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-7 90263BDT2 992.881374 4.695502 12.850351 17.545852 980.031023 5.675000% 5.925000%
R-2 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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 22
(C) COPYRIGHT 1996 Bankers Trust Company
<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
- -------------------------------------------------------------------------------------------------------------------------
</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>
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: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 16, 1996 FACTOR INFORMATION: (800) 735-7777
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 23
(C) COPYRIGHT 1996 Bankers Trust Company
<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: December 16, 1996
- -------------------------------------------------------------------------------------------------------------------------
<S> <C>
LOAN GROUP 1 PRINCIPAL BALANCE: 294,553,263.79
TOTAL PRINCIPAL: 2,474,688.36
PREPAYMENTS: 2,057,505.45
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,970,865.49
LOAN GROUP 2 PRINCIPAL BALANCE: 196,006,204.81
TOTAL PRINCIPAL: 2,570,006.50
PREPAYMENTS: 2,298,328.41
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,678,506.95
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: 14,095,229.33
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: 123,761.65
SERVICING FEES DUE GROUP 2: 82,740.09
GUARANTEE FEES DUE GROUP 1: 694,949.67
GUARANTEE FEES DUE GROUP 2: 316,232.69
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 24
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 2
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 16, 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%
- -------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORECLOSURE
- -------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 1 4,659,849.10 1,186,229.18 0.00 0.00
NUMBER OF LOANS 102 24 0 0
- -------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE - GROUP 2 3,638,572.81 632,238.87 305,910.00 0.00
NUMBER OF LOANS 50 13 1 0
- -------------------------------------------------------------------------------------------------------------------------
AGGREGATE PRINCIPAL BALANCE 8,298,421.91 1,818,468.05 305,910.00 0.00
AGGREGATE NUMBER OF LOANS 152 37 1 0
Note: Quantity and Principal Balance of Foreclosures are Included in the Delinquency Figures.
- -------------------------------------------------------------------------------------------------------------------------
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 9
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 386,244.05
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 5
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 274,425.62
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)
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 25
(C) COPYRIGHT 1996 Bankers Trust Company
<PAGE> 3
UCFC ACCEPTANCE CORPORATION
HOME EQUITY LOAN PASS-THROUGH CERTIFICATES
SERIES 1996-C1 AND 1996-C2
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 16, 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
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 26
(C) COPYRIGHT 1996 Bankers Trust Company
