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 15, 1997
------------------
UCFC ACCEPTANCE CORPORATION
- -----------------------------------------------------------------
(Exact name of registrant as specified in its Charter)
Louisiana 333-07081 72-1235336
--------- --------- ----------
(State or other (Commission (IRS Employer
jurisdiction File Number) ID Number)
of incorporation)
4041 Essen Lane, Baton Rouge, Louisiana 70809
----------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
(Registrant's Telephone Number, (504)987-0000
- ------------------------------- -------------
including area code)
N/A
- ---------------------------------------------------------------
(Former name or former address, if changed since last report)
PAGE 1
<PAGE>
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 (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.
PAGE 2
<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
- -----------------------------------------------------------------
(c) Exhibits
--------
Exhibit No.
-----------
20.1 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Remic I; Series 1997-A1, Remic II;
and Series 1997-A2, Remic III, Monthly
Report to Certificateholders for the Distribution
Date in December, 1997. Pages 6-8.
20.2 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Reserve Fund Trust Statement
to Certificateholders for the Distribution Date
in December, 1997. Page 9.
20.3 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Statement to Certificateholders
for the Distribution Date in December, 1997. Pages 10-12.
20.4 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-B1, Remic I,
Statement to Certificateholders for the Distribution
Date in December, 1997. Pages 13-16.
20.5 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-C, Remic I, II,
and III, Statement to Certificateholders for the Distribution
Date in December, 1997. Pages 17-22.
<PAGE>
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, as
Servicer
By: /s/ Sherry E. Anderson
-----------------------
Sherry E. Anderson
Secretary
Dated: December 31, 1997
PAGE 4
<PAGE>
EXHIBIT INDEX
Exhibit
No. Description
------- -----------
Exhibit No.
-----------
20.1 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Remic I; Series 1997-A1, Remic II;
and Series 1997-A2, Remic III, Monthly Report to
Certificateholders for the Distribution Date in December,
1997. Pages 6-8.
20.2 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Reserve Fund Trust Statement
to Certificateholders for the Distribution Date
in December, 1997. Page 9.
20.3 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-A1
and Series 1997-A2, Statement to Certificateholders
for the Distribution Date in December, 1997. Pages 10-12.
20.4 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-B1, Remic I,
Statement to Certificateholders for the Distribution
Date in December, 1997. Pages 13-16.
20.5 UCFC Acceptance Corporation, Home Equity
Loan Pass-Through Certificates, Series 1997-C, Remics I, II,
and III, Statement to Certificateholders for the Distribution
Date in December, 1997. Pages 17-22.
PAGE 5
UCFC Acceptance Corporation EXHIBIT 20.1
Home Equity Loan Pass-Through Certificates
Series 1997-A1 and 1997-A2
REMIC I
Statement To Certificateholders
<TABLE>
- ---------------------------------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTIONS IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- -------------- ------------- ------------ ------------ ------------ -------- -------- --------------
1 119,935,000.00 82,153,670.51 749,910.38 7,546,210.46 8,296,120.84 0.00 0.00 74,607,460.05
2 56,247,000.00 56,247,000.00 513,430.61 0.00 513,430.61 0.00 0.00 56,247,000.00
3 60,615,000.00 60,615,000.00 553,302.34 0.00 553,302.34 0.00 0.00 60,615,000.00
4 27,799,000.00 27,799,000.00 253,753.22 0.00 253,753.22 0.00 0.00 27,799,000.00
5 29,799,000.00 29,799,000.00 272,009.50 0.00 272,009.50 0.00 0.00 29,799,000.00
6 20,286,000.00 20,286,000.00 185,173.50 0.00 185,173.50 0.00 0.00 20,286,000.00
7 22,819,000.00 22,819,000.00 208,295.07 0.00 208,295.07 0.00 0.00 22,819,000.00
8 37,500,000.00 37,500,000.00 342,305.33 0.00 342,305.33 0.00 0.00 37,500,000.00
RI 0.00 0.00 918.13 0.00 918.13 0.00 0.00 0.00
- ---------------------------------------------------------------------------------------------------------------------
TOTALS: 375,000,000.00 337,218,670.51 3,079,098.08 7,546,210.46 10,625,308.54 0.00 0.00 329,672,460.05
=====================================================================================================================
</TABLE>
<TABLE>
- -----------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ----------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------ ----- ------------ -------- ----------- ---------- ---------- -------- ---------
1 684.984954 6.252640 62.919168 69.171808 622.065786 7.750391% 7.749474%
2 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
3 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
4 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
5 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
6 1,000.000000 9.128143 0.000000 9.128143 1,000.000000 7.750391% 7.749474%
7 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
8 1,000.000000 9.128142 0.000000 9.128142 1,000.000000 7.750391% 7.749474%
RI 0.000000 0.002448 0.000000 0.002448 0.000000 N/A N/A
- ------------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 6
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-A1
REMIC II
Statement To Certificateholders
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTION IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- -------------- ------------- ------------ ------------ ------------ -------- -------- --------------
A-1 119,935,000.00 82,153,670.51 400,499.14 7,546,210.46 7,946,709.60 0.00 0.00 74,607,460.05
A-2 56,247,000.00 56,247,000.00 318,733.00 0.00 318,733.00 0.00 0.00 56,247,000.00
A-3 60,615,000.00 60,615,000.00 352,324.69 0.00 352,324.69 0.00 0.00 60,615,000.00
A-4 27,799,000.00 27,799,000.00 165,172.39 0.00 165,172.39 0.00 0.00 27,799,000.00
A-5 29,799,000.00 29,799,000.00 180,408.11 0.00 180,408.11 0.00 0.00 29,799,000.00
A-6 20,286,000.00 20,286,000.00 125,688.68 0.00 125,688.68 0.00 0.00 20,286,000.00
A-7 22,819,000.00 22,819,000.00 145,661.28 0.00 145,661.28 0.00 0.00 22,819,000.00
A-8 37,500,000.00 37,500,000.00 225,625.00 0.00 225,625.00 0.00 0.00 37,500,000.00
EI-1 0.00 0.00 349,411.24 0.00 349,411.24 0.00 0.00 0.00
EI-2 0.00 0.00 194,697.61 0.00 194,697.61 0.00 0.00 0.00
EI-3 0.00 0.00 200,977.65 0.00 200,977.65 0.00 0.00 0.00
EI-4 0.00 0.00 88,580.83 0.00 88,580.83 0.00 0.00 0.00
EI-5 0.00 0.00 91,601.39 0.00 91,601.39 0.00 0.00 0.00
EI-6 0.00 0.00 59,484.82 0.00 59,484.82 0.00 0.00 0.00
EI-7 0.00 0.00 62,633.79 0.00 62,633.79 0.00 0.00 0.00
EI-8 0.00 0.00 116,680.33 0.00 116,680.33 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 0.00 918.13 0.00 918.13 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------
TOTALS: 375,000,000.00 337,218,670.51 3,079,098.08 7,546,210.46 10,625,308.54 0.00 0.00 329,672,460.05
=======================================================================================================================
</TABLE>
<TABLE>
- -----------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL -------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- ---------- ---------- ---------- -------- ---------
A-1 90263BEKO 684.984954 3.339302 62.919168 66.258470 622.065786 5.850000% 6.225000%
A-2 90263BEL8 1,000.000000 5.666667 0.000000 5.666667 1,000.000000 6.800000% 6.800000%
A-3 90263BEM6 1,000.000000 5.812500 0.000000 5.812500 1,000.000000 6.975000% 6.975000%
A-4 90263BES3 1,000.000000 5.941667 0.000000 5.941667 1,000.000000 7.130000% 7.130000%
A-5 90263BEN4 1,000.000000 6.054167 0.000000 6.054167 1,000.000000 7.265000% 7.265000%
A-6 90263BEP9 1,000.000000 6.195834 0.000000 6.195834 1,000.000000 7.435000% 7.435000%
A-7 90263BEQ7 1,000.000000 6.383333 0.000000 6.383333 1,000.000000 7.660000% 7.660000%
A-8 90263BER5 1,000.000000 6.016667 0.000000 6.016667 1,000.000000 7.220000% 7.220000%
EI-1 0.000000 0.931763 0.000000 0.931763 0.000000 5.103771% 4.518612%
EI-2 0.000000 0.519194 0.000000 0.519194 0.000000 4.153771% 4.151112%
EI-3 0.000000 0.535940 0.000000 0.535940 0.000000 3.978771% 3.976112%
EI-4 0.000000 0.236216 0.000000 0.236216 0.000000 3.823771% 3.821112%
EI-5 0.000000 0.244270 0.000000 0.244270 0.000000 3.688771% 3.686112%
EI-6 0.000000 0.158626 0.000000 0.158626 0.000000 3.518771% 3.516112%
EI-7 0.000000 0.167023 0.000000 0.167023 0.000000 3.293771% 3.291112%
EI-8 0.000000 0.311148 0.000000 0.311148 0.000000 3.733771% 3.731112%
RII 0.000000 0.000000 0.000000 0.000000 0.000000 N/A N/A
R1 0.000000 0.002448 0.000000 0.002448 0.000000 N/A N/A
- ----------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 7 (c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-A2
REMIC III
Statement To Certificateholders
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTION IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- -------------- ------------- ------------ ---------- ------------ -------- -------- --------------
A-9 175,000,000.00 162,596,879.62 806,209.53 3,742,447.86 4,548,657.39 0.00 0.00 158,854,431.76
R-2 0.00 0.00 455.33 0.00 455.33 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 175,000,000.00 162,596,879.62 806,664.86 3,742,447.86 4,549,112.72 0.00 0.00 158,854,431.76
</TABLE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL -------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- --------- -------- ---------- -------- ---------
A-9 90263BE11 929.125026 4.606912 21.385416 25.992328 907.739610 5.950000% 6.325000%
R-2 0.000000 0.002602 0.000000 0.002602 0.000000 N/A N/A
- --------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 8 (c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation EXHIBIT 20.2
Home Equity Loan Pass-Through Certificates
Series 1997-A1 and 1997-A2
Reserve Fund Trust
Statement To Certificateholders
<TABLE>
- ----------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTIONS IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- --------- -------- --------- --------- -------- -------- ---------
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
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL ------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------- -------- --------- ------ --------- ------- --------
A TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 N/A N/A
B TRUST 0.000000 0.000000 0.000000 0.000000 0.000000 N/A N/A
- ------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 9
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation EXHIBIT 20.3
Home Equity Loan Pass-Through Certificates
Series 1997-A1 and 1997-A2
Statement To Certificateholders
Distribution Date: December 15, 1997
LOAN GROUP 1 PRINCIPAL BALANCE: 329,672,460.05
TOTAL PRINCIPAL: 7,546,210.46
PREPAYMENTS: 7,009,377.19
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 3,259,716.01
LOAN GROUP 2 PRINCIPAL BALANCE: 158,854,431.92
TOTAL PRINCIPAL: 3,742,447.86
PREPAYMENTS: 3,632,965.32
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 1,398,596.86
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: 26,924,579.28
SPECIFIED RESERVE ACCOUNT REQUIREMENT: 34,375,000.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS
AS OF THE CURRENT PAYMENT DATE: 0.00
SUBORDINATED AMOUNT AS OF THE CURRENT
PAYMENT DATE: 93,500,000.00
GROUP 1 INSURED PAYMENT RELATING TO THE
CURRENT PAYMENT DATE: 0.00
GROUP 2 INSURED PAYMENT RELATING TO THE
CURRENT PAYMENT DATE: 0.00
TOTAL TOTAL
ACCRUED DUE
---------- ----------
SERVICING FEES GROUP 1: 140,507.78 108,268.55
SERVICING FEES GROUP 2: 67,748.70 56,054.21
GUARANTEE FEES DUE GROUP 1: 900,199.58
GUARANTEE FEES DUE GROUP 2: 252,428.01
WEIGHTED AVERAGE COUPON RATE GROUP 1 11.5998%
WEIGHTED AVERAGE COUPON RATE GROUP 2 10.3219%
WEIGHTED AVERAGE REMAINING TERM GROUP 1 233
WEIGHTED AVERAGE REMAINING TERM GROUP 2 330
Page 10
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-A1 and 1997-A2
Statement To Certificateholders
Distribution Date: December 15, 1997
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 RELATED ACCRUAL PERIOD: 5.8500%
CLASS A-9 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD: 5.9500%
<TABLE>
- -----------------------------------------------------------------------------------
<CAPTION>
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORE-
CLOSURE
- -----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 11,445,105.55 6,425,765.66 12,531,862.60 0.00
NUMBER OF LOANS 271 118 242 0
PRINCIPAL BALANCE - GROUP 2 4,374,816.95 1,136,053.77 5,354,796.81 0.00
NUMBER OF LOANS 66 19 72 0
AGGREGATE PRINCIPAL BALANCE 15,819,922.50 7,561,819.43 17,886,659.41 0.00
AGGREGATE NUMBER OF LOANS 337 137 314 0
Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 96
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 1: 4,983,736.89
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 21
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 2: 1,402,121.98
REO LOANS - GROUP 1: 1
PRINCIPAL BALANCE OF REO LOANS - GROUP 1: 42,700.00
REO LOANS - GROUP 2: 1
PRINCIPAL BALANCE OF REO LOANS - GROUP 2: 111,504.28
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)
Page 11
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-A1 and 1997-A2
Statement To Certificateholders
- --------------------------------------------------------------------
Distribution Date: December 15, 1997
- --------------------------------------------------------------------
CLASS A-1 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-2 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-3 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-4 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-5 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-6 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-7 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-8 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-9 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
GROUP ONE PRINCIPAL CARRY FORWARD AMOUNT - NEXT MONTH 0.00
GROUP TWO PRINCIPAL CARRY FORWARD AMOUNT - NEXT MONTH 0.00
GROUP ONE INTEREST SHORTFALL - CURRENT MONTH 0.00
GROUP TWO INTEREST SHORTFALL - CURRENT MONTH 0.00
GROUP ONE PRINCIPAL SHORTFALL - CURRENT MONTH 0.00
GROUP TWO PRINCIPAL SHORTFALL - CURRENT MONTH 0.00
PAGE 12
(c) COPYRIGHT 1997 Bankers Trust Company
UCFC Acceptance Corporation EXHIBIT 20.4
Home Equity Loan Pass-Through Certificates
Series 1997-B1
REMIC I
Statement To Certificateholders
<TABLE>
- -----------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTIONS IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- -------------- ----------- --------- ------------- -------- -------- --------------
A-1 90,000,000.00 74,436,601.22 338,686.54 4,360,894.23 4,699,580.77 0.00 0.00 70,075,706.99
A-2 33,000,000.00 33,000,000.00 179,300.00 0.00 179,300.00 0.00 0.00 33,000,000.00
A-3 45,000,000.00 45,000,000.00 249,562.50 0.00 249,562.50 0.00 0.00 45,000,000.00
A-4 35,500,000.00 35,500,000.00 205,308.33 0.00 205,308.33 0.00 0.00 35,500,000.00
A-5 21,500,000.00 21,500,000.00 130,254.17 0.00 130,254.17 0.00 0.00 21,500,000.00
A-6 25,000,000.00 25,000,000.00 143,750.00 0.00 143,750.00 0.00 0.00 25,000,000.00
A-7 350,000,000.00 333,686,028.03 1,554,606.13 5,362,037.07 6,919,643.20 0.00 0.00 328,323,990.96
R-1 0.00 0.00 652.37 0.00 652.37 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 600,000,000.00 568,122,629.25 2,802,120.04 9,722,931.30 12,525,051.34 0.00 0.00 558,399,697.95
========================================================================================================================
</TABLE>
<TABLE>
- --------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL --------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- --------- -------- --------- --------- --------- ------- ---------
A-1 90263BEU8 827.073347 3.763184 48.454380 52.217564 778.618967 5.850000% 6.225000%
A-2 90263BEV8 1,000.000000 5.433333 0.000000 5.433333 1,000.000000 6.520000% 6.520000%
A-3 90263BEW4 1,000.000000 5.545833 0.000000 5.545833 1,000.000000 6.655000% 6.655000%
A-4 90263BEX2 1,000.000000 5.783333 0.000000 5.783333 1,000.000000 6.940000% 6.940000%
A-5 90263BEYO 1,000.000000 6.058333 0.000000 6.058333 1,000.000000 7.270000% 7.270000%
A-6 90263BEZ7 1,000.000000 5.750000 0.000000 5.750000 1,000.000000 6.900000% 6.900000%
A-7 90263BFAI 953.388652 4.441732 15.320106 19.761838 938.068546 5.990000% 6.365000%
R-1 UC97B1101 0.000000 0.001087 0.000000 0.001087 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 13
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-B1
Statement to Certificateholders
Distribution Date: December 15, 1997
LOAN GROUP 1 PRINCIPAL BALANCE: 236,325,706.99
TOTAL PRINCIPAL: 3,421,503.49
PREPAYMENTS: 3,095,115.54
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,372,854.51
LOAN GROUP 2 PRINCIPAL BALANCE: 328,323,990.96
TOTAL PRINCIPAL: 5,362,037.07
PREPAYMENTS: 5,086,663.86
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,864,595.08
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: 13,635,390.81
PRIOR MONTH SPECIFIED RESERVE ACCOUNT REQUIREMENT: 26,250,000.00
SPECIFIED RESERVE ACCOUNT REQUIREMENT: 26,250,000.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS
AS OF THE CURRENT PAYMENT DATE: 0.00
SUBORDINATED AMOUNT AS OF THE CURRENT PAYMENT DATE: 102,000,000.00
PRIOR MONTH REQUIRED OVERCOLLATERALIZATION AMOUNT: 6,250,000.00
REQUIRED OVERCOLLATERALIZATION AMOUNT: 6,250,000.00
PRIOR MONTH OVERCOLLATERALIZATION AMOUNT: 5,310,609.26
OVERCOLLATERALIZATION AMOUNT: 6,250,000.00
GROUP 1 INSURED PAYMENT RELATING
TO THE CURRENT PAYMENT DATE: 0.00
GROUP 2 INSURED PAYMENT RELATING
TO THE CURRENT PAYMENT DATE: 0.00
Total Accrued Total Due
------------- ---------
SERVICING FEES DUE GROUP 1: 99,894.67 80,937.77
SERVICING FEES DUE GROUP 2: 139,035.85 116,455.97
GUARANTEE FEES DUE GROUP 1: 706,919.55
GUARANTEE FEES DUE GROUP 2: 734,730.52
WEIGHTED AVERAGE COUPON RATE GROUP 1 11.8768%
WEIGHTED AVERAGE COUPON RATE GROUP 2 10.3016%
WEIGHTED AVERAGE REMAINING TERM GROUP 1 236
WEIGHTED AVERAGE REMAINING TERM GROUP 2 347
Page 14
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-B1
Statement to Certificateholders
Distribution Date: December 15, 1997
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 RELATED ACCRUAL PERIOD: 5.8500%
CLASS A-7 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD: 5.9900%
<TABLE>
- -----------------------------------------------------------------------------------
<CAPTION>
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORE-
CLOSURE
- -----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 8,577,440.19 2,544,433.24 4,733,226.69 0.00
NUMBER OF LOANS 185 65 105 0
PRINCIPAL BALANCE - GROUP 2 7,301,964.71 3,148,449.77 4,526,549.43 0.00
NUMBER OF LOANS 109 41 59 0
AGGREGATE PRINCIPAL BALANCE 15,879,404.90 5,692,883.01 9,259,776.12 0.00
AGGREGATE NUMBER OF LOANS 294 106 164 0
Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 24
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 1: 1,146,623.50
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 28
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 2: 2,109,509.77
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)
Page 15
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-B1
Statement To Certificateholders
Distribution Date: December 15, 1997
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
LIBOR INTEREST CARRYOVER INCLUDED
IN CURRENT DISTRIBUTION 0.00
LIBOR INTEREST CARRYOVER AFTER
PAYMENT DATE 0.00
PAGE 16
(c) COPYRIGHT 1997 Bankers Trust Company
UCFC Acceptance Corporation EXHIBIT 20.5
Home Equity Loan Pass-Through Certificates
Series 1997-C
REMIC I
Statement To Certificateholders
<TABLE>
- -----------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTIONS IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- ---------- -------------- ----------- --------- ------------- -------- -------- --------------
1 270,000,000.00 267,051,405.91 2,377,544.69 3,111,307.57 5,488,852.26 0.00 0.00 263,940,098.34
7 30,000,000.00 30,000,000.00 393,755.10 0.00 393,755.10 0.00 0.00 30,000,000.00
R-1 0.00 0.00 336,226.74 0.00 336,226.74 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 300,000,000.00 297,051,405.91 3,107,526.53 3,111,307.57 6,218,834.10 0.00 0.00 293,940,098.34
========================================================================================================================
</TABLE>
<TABLE>
- --------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<C> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL --------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- --------- --------- --------- --------- --------- ------- ---------
1 989.079281 8.805721 11.523361 20.329082 977.555920 8.025333% 8.027342%
7 1,000.000000 13.125170 0.000000 13.125170 1,000.000000 8.025333% 8.027342%
R-1 0.000000 1.120756 0.000000 1.120756 0.000000 0.000000% 0.000000%
- -----------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 17
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-C
REMIC II
Statement To Certificateholders
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTION IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- -------------- ------------- ------------ ------------ ------------ -------- -------- --------------
A-1 93,000,000.00 90,051,405.91 409,033.50 3,111,307.57 3,520,341.07 0.00 0.00 86,940,098.34
A-2 55,000,000.00 55,000,000.00 297,000.00 0.00 297,000.00 0.00 0.00 55,000,000.00
A-3 39,000,000.00 39,000,000.00 213,362.50 0.00 213,362.50 0.00 0.00 39,000,000.00
A-4 24,000,000.00 24,000,000.00 135,500.00 0.00 135,500.00 0.00 0.00 24,000,000.00
A-5 27,000,000.00 27,000,000.00 154,800.00 0.00 154,800.00 0.00 0.00 27,000,000.00
A-6 32,000,000.00 32,000,000.00 192,933.33 0.00 192,933.33 0.00 0.00 32,000,000.00
A-7 30,000,000.00 30,000,000.00 171,125.00 0.00 171,125.00 0.00 0.00 30,000,000.00
A-IO 0.00 0.00 126,666.67 0.00 126,666.67 0.00 0.00 0.00
R-2 0.00 0.00 336,226.74 0.00 336,226.74 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------
TOTALS: 300,000,000.00 297,051,405.91 2,036,647.74 3,111,307.57 5,147,955.31 0.00 0.00 293,940,098.34
=======================================================================================================================
</TABLE>
<TABLE>
- -----------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL -------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- ---------- ---------- ---------- -------- ---------
A-1 90263BFB9 968.294687 4.398210 33.454920 37.853130 934.839767 5.840000% 6.215000%
A-2 90263BFC7 1,000.000000 5.400000 0.000000 5.400000 1,000.000000 6.480000% 6.480000%
A-3 90263BFD5 1,000.000000 5.470833 0.000000 5.470833 1,000.000000 6.565000% 6.565000%
A-4 90263BFE3 1,000.000000 5.645833 0.000000 5.645833 1,000.000000 6.775000% 6.775000%
A-5 90263BFF0 1,000.000000 5.733333 0.000000 5.733333 1,000.000000 6.880000% 6.880000%
A-6 90263BFG8 1,000.000000 6.029167 0.000000 6.029167 1,000.000000 7.235000% 7.235000%
A-7 90263BFH6 1,000.000000 5.704167 0.000000 5.704167 1,000.000000 6.845000% 6.845000%
A-IO 90263BFJ2 0.000000 0.422222 0.000000 0.422222 0.000000 8.000000% 8.000000%
R-2 0.000000 1.120756 0.000000 1.120756 0.000000 0.000000% 0.000000%
- ----------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 18
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-C
REMIC III
Statement To Certificateholders
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
DISTRIBUTION IN DOLLARS
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ----- -------------- ------------- ------------ ---------- ------------ -------- -------- --------------
A-8 400,000,000.00 394,657,891.94 1,826,389.02 3,615,274.84 5,441,663.86 0.00 0.00 391,042,617.10
R-3 0.00 0.00 446,646.54 0.00 446,646.54 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 394,657,891.94 2,273,035.56 3,615,274.84 5,888,310.40 0.00 0.00 391,042,617.10
</TABLE>
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL -------------------
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----- ----- ------------ -------- --------- -------- ---------- -------- ---------
A-8 90263BFK9 986.644730 4.565973 9.038187 13.604160 977.606543 5.950000% 6.325000%
R-3 0.000000 1.116616 0.000000 1.116616 0.000000 0.000000% 0.000000%
- --------------------------------------------------------------------------------------------------
</TABLE>
SELLER: UCFC Acceptance Corporation ADMINISTRATOR:
SERVICER: United Companies Lending Bankers Trust Company
Corporation 3 Park Plaza
LEAD UNDERWRITER: Prudential Securities Incorporated Irvine, CA 92714
RECORD DATE: November 28, 1997 FACTOR INFORMATION:
DISTRIBUTION DATE: December 15, 1997 (800) 735-7777
Page 19
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-C
Statement to Certificateholders
Distribution Date: December 15, 1997
LOAN GROUP 1 PRINCIPAL BALANCE: 293,940,098.34
TOTAL PRINCIPAL: 3,111,307.57
PREPAYMENTS: 2,707,073.30
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 2,931,088.70
LOAN GROUP 2 PRINCIPAL BALANCE: 391,043,408.71
TOTAL PRINCIPAL: 3,615,274.84
PREPAYMENTS: 3,347,026.93
NET LIQUIDATION PROCEEDS: 0.00
TOTAL INTEREST: 3,402,834.89
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: 48,000,000.00
SPECIFIED RESERVE ACCOUNT REQUIREMENT: 48,000,000.00
CUMULATIVE RESERVE ACCOUNT WITHDRAWALS
AS OF THE CURRENT PAYMENT DATE: 0.00
RESERVE ACCOUNT WITHDRAWALS SINCE
PRIOR PAYMENT DATE: 0.00
SUBORDINATED AMOUNT AS OF THE CURRENT PAYMENT DATE: 119,000,000.00
GROUP 1 INSURED PAYMENT RELATING
TO THE CURRENT PAYMENT DATE: 0.00
GROUP 2 INSURED PAYMENT RELATING
TO THE CURRENT PAYMENT DATE: 0.00
Total Accrued Total Due
------------- ---------
SERVICING FEES GROUP 1: 123,771.41 112,139.21
SERVICING FEES GROUP 2: 164,441.12 152,430.96
GUARANTEE FEES DUE GROUP 1: 784,686.19
GUARANTEE FEES DUE GROUP 2: 886,696.67
WEIGHTED AVERAGE COUPON RATE GROUP 1 11.8407%
WEIGHTED AVERAGE COUPON RATE GROUP 2 10.3467%
WEIGHTED AVERAGE REMAINING TERM GROUP 1 239
WEIGHTED AVERAGE REMAINING TERM GROUP 2 339
Page 20
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-C
Statement to Certificateholders
Distribution Date: December 15, 1997
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 RELATED ACCRUAL PERIOD: 5.840000%
CLASS A-8 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD: 5.950000%
<TABLE>
- ---------------------------------------------------------------------------------
<CAPTION>
DELINQUENT AND LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 AND OVER IN
INFORMATION DAYS DAYS DAYS FORE-
CLOSURE
- -----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 4,021,051.62 1,054,982.35 187,485.80 0.00
NUMBER OF LOANS 96 32 3 0
PRINCIPAL BALANCE - GROUP 2 3,901,128.28 609,597.26 0.00 0.00
NUMBER OF LOANS 44 8 0 0
AGGREGATE PRINCIPAL BALANCE 7,922,179.90 1,664,579.61 187,485.80 0.00
AGGREGATE NUMBER OF LOANS 140 40 3 0
Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1: 12
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 1: 547,724.40
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2: 6
PRINCIPAL BALANCE OF LOANS IN
BANKRUPTCY PROCEEDINGS-GROUP 2: 389,126.71
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)
Page 21
(c) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
UCFC Acceptance Corporation
Home Equity Loan Pass-Through Certificates
Series 1997-C
Statement To Certificateholders
Distribution Date: December 15, 1997
CLASS A-1 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-2 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-3 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-4 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-5 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-6 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-7 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-IO INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
CLASS A-8 INTEREST CARRY-FORWARD AMOUNT - NEXT MONTH 0.00
GROUP ONE PRINCIPAL CARRY FORWARD AMOUNT - NEXT MONTH 0.00
GROUP TWO PRINCIPAL CARRY FORWARD AMOUNT - NEXT MONTH 0.00
GROUP ONE INTEREST SHORTFALL - CURRENT MONTH 0.00
GROUP TWO INTEREST SHORTFALL - CURRENT MONTH 0.00
GROUP ONE PRINCIPAL SHORTFALL - CURRENT MONTH 0.00
GROUP TWO PRINCIPAL SHORTFALL - CURRENT MONTH 0.00
PAGE 22
(c) COPYRIGHT 1997 Bankers Trust Company
