UCFC ACCEPTANCE CORP
8-K, 1998-03-17
ASSET-BACKED SECURITIES
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DOCUMENTS FOR EDGAR SUBMISSION:

DOCUMENT TYPE
- -------------
8K
EX-20.1
EX-20.2
EX-20.3
EX-20.4
EX-20.5
EX-20.6
                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) February 17, 1998
                                                 ------------------

                   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 and 
             1997-A2, Remic II; and Series 1997-A1 and Series
             1997-A2, Remic III, Monthly Report to Certificate-
             holders for the Distribution Date in February, 1998.
             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 February, 1998.  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 February, 1998. 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 February, 1998. 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 February, 1998. Pages 17-22.

     20.6    UCFC Acceptance Corporation, Home Equity
             Loan Pass-Through Certificates, Series 1997-D, Remic I, II, 
             and III, Statement to Certificateholders for the Distribution
             Date in February, 1998. Pages 23-29.
<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: March 17, 1998

                          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 and 
             1997-A2, Remic II; and Series 1997-A1 and Series
             1997-A2, Remic III, Monthly Report to Certificate-
             holders for the Distribution Date in February, 1998.
             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 February, 1998.  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 February, 1998.
             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 February, 1998. 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 February, 1998. Pages 17-22.

     20.6    UCFC Acceptance Corporation, Home Equity
             Loan Pass-Through Certificates, Series 1997-D, Remic I,
             II, and III, Statement to Certificateholders for the 
             Distribution Date in February, 1998. Pages 23-29.


                           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   68,639,305.92    626,073.41   8,324,147.10  8,950,220.51  0.00      0.00       60,315,158.82
2        56,247,000.00   56,247,000.00    513,040.61           0.00    513,040.61  0.00      0.00       56,247,000.00
3        60,615,000.00   60,615,000.00    552,882.05           0.00    552,882.05  0.00      0.00       60,615,000.00
4        27,799,000.00   27,799,000.00    253,560.47           0.00    253,560.47  0.00      0.00       27,799,000.00
5        29,799,000.00   29,799,000.00    271,802.89           0.00    271,802.89  0.00      0.00       29,799,000.00
6        20,286,000.00   20,286,000.00    185,032.84           0.00    185,032.84  0.00      0.00       20,286,000.00
7        22,819,000.00   22,819,000.00    208,136.85           0.00    208,136.85  0.00      0.00       22,819,000.00
8        37,500,000.00   37,500,000.00    342,045.31           0.00    342,045.31  0.00      0.00       37,500,000.00
RI                0.00            0.00      1,012.77           0.00      1,012.77  0.00      0.00                0.00
                                        

- ---------------------------------------------------------------------------------------------------------------------
TOTALS: 375,000,000.00  323,704,305.92  2,953,587.20   8,324,147.10 11,277,734.30  0.00      0.00      315,380,158.82
=====================================================================================================================
</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              572.304214   5.220106   69.405487   74.625593    502.898727    7.746539%  7.743821%
  2            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  3            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  4            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  5            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  6            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  7            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
  8            1,000.000000   9.121208    0.000000    9.121208  1,000.000000    7.746539%  7.743821%
 RI                0.000000   0.002701    0.000000    0.002701      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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                        (800) 735-7777

                                 Page 6

                                    (c) COPYRIGHT 1998 Bankers Trust Company


<PAGE>
                          UCFC Acceptance Corporation
                 Home Equity Loan Pass-Through Certificates
                             Series 1997-A1 and 1997-A2
                                 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    68,639,305.92     338,382.24  8,324,147.10   8,662,529.34  0.00      0.00       60,315,158.82
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     287,691.17          0.00     287,691.17  0.00      0.00                0.00
EI-2              0.00             0.00     194,307.61          0.00     194,307.61  0.00      0.00                0.00
EI-3              0.00             0.00     200,557.36          0.00     200,557.36  0.00      0.00                0.00
EI-4              0.00             0.00      88,388.08          0.00      88,388.08  0.00      0.00                0.00
EI-5              0.00             0.00      91,394.78          0.00      91,394.78  0.00      0.00                0.00
EI-6              0.00             0.00      59,344.16          0.00      59,344.16  0.00      0.00                0.00
EI-7              0.00             0.00      62,475.57          0.00      62,475.57  0.00      0.00                0.00
EI-8              0.00             0.00     116,420.31          0.00     116,420.31  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       1,012.77          0.00       1,012.77  0.00      0.00                0.00
                                        

- -----------------------------------------------------------------------------------------------------------------------  
                                     
TOTALS: 375,000,000.00   323,704,305.92   2,953,587.20  8,324,147.10  11,277,734.30  0.00      0.00      315,380,158.82
=======================================================================================================================
</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   572.304214   2.821380   69.405487   72.226867    502.898727   5.725000% 5.787500%
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   0.767176    0.000000    0.767176      0.000000   5.029617% 5.539119%
EI-2                 0.000000   0.518154    0.000000    0.518154      0.000000   4.145450% 4.140786%
EI-3                 0.000000   0.534820    0.000000    0.534820      0.000000   3.970450% 3.965786%
EI-4                 0.000000   0.235702    0.000000    0.235702      0.000000   3.815450% 3.810786%
EI-5                 0.000000   0.243719    0.000000    0.243719      0.000000   3.680450% 3.675869%
EI-6                 0.000000   0.158251    0.000000    0.158251      0.000000   3.510450% 3.505786%
EI-7                 0.000000   0.166602    0.000000    0.166602      0.000000   3.285450% 3.280786%
EI-8                 0.000000   0.310454    0.000000    0.310454      0.000000   3.725450% 3.720786%
RII                  0.000000   0.000000    0.000000    0.000000      0.000000       N/A       N/A  
R1                   0.000000   0.002701    0.000000    0.002701      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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                      (800) 735-7777


                   Page 7          (c) COPYRIGHT 1998 Bankers Trust Company


<PAGE>
                       UCFC Acceptance Corporation
                  Home Equity Loan Pass-Through Certificates
                              Series 1997-A1 and 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  154,425,509.86    774,594.07    6,444,938.93   7,219,533.00   0.00      0.00      147,980,570.93
R-2               0.00            0.00        784.13            0.00         784.13   0.00      0.00                0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS  175,000,000.00  154,425,509.86    775,378.20    6,444,938.93   7,220,317.13   0.00      0.00      147,980,570.93
</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    882.431485   4.426252  36.828222  41.254474  845.603262    5.825000% 5.887500%
R-2                   0.000000   0.004481   0.000000   0.004481    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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                      (800) 735-7777

                   Page 8        (c) COPYRIGHT 1998 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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                        (800) 735-7777

                                 Page 9 
                                     (c) COPYRIGHT 1998 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:  February 17, 1998

LOAN GROUP 1 PRINCIPAL BALANCE:                          315,380,158.82
TOTAL PRINCIPAL:                                           8,324,147.10
PREPAYMENTS:                                               7,677,248.36
NET LIQUIDATION PROCEEDS:                                          0.00
TOTAL INTEREST:                                            3,126,835.24

LOAN GROUP 2 PRINCIPAL BALANCE:                          147,980,571.09
TOTAL PRINCIPAL:                                           6,444,938.93
PREPAYMENTS:                                               6,346,341.35
NET LIQUIDATION PROCEEDS:                                          0.00
TOTAL INTEREST:                                            1,328,890.22


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:                                  30,295,958.21

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:                      134,876.79       99,248.76       
SERVICING FEES GROUP 2:                       64,343.97       51,188.74

GUARANTEE FEES DUE GROUP 1:                                  862,917.83
GUARANTEE FEES DUE GROUP 2:                                  235,581.88

WEIGHTED AVERAGE COUPON RATE GROUP 1                           11.5915%
WEIGHTED AVERAGE COUPON RATE GROUP 2                           10.3265%

WEIGHTED AVERAGE REMAINING TERM GROUP 1                             230
WEIGHTED AVERAGE REMAINING TERM GROUP 2                             328

                         Page 10 
                         (c) COPYRIGHT 1998 Bankers Trust Company

<PAGE>
               UCFC Acceptance Corporation
       Home Equity Loan Pass-Through Certificates                 
         
                Series 1997-A1 and 1997-A2                   
                                
            Statement To Certificateholders                      
      
                                                                  
             
Distribution Date:  February 17, 1998                               
                                        
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:         5.7250%

CLASS A-9 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:         5.8250%
                                        
<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  14,652,700.89   5,632,043.41   17,937,046.88     0.00
NUMBER OF LOANS                        302            136             339        0

PRINCIPAL BALANCE - GROUP 2   4,413,602.96   1,507,715.66    6,823,137.29     0.00
NUMBER OF LOANS                         71             26              96        0

AGGREGATE PRINCIPAL BALANCE  19,066,303.85   7,139,759.07   24,760,184.17     0.00
AGGREGATE NUMBER OF LOANS              373            162             435        0

Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
      are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>                                        
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1:                          139

PRINCIPAL BALANCE OF LOANS IN 
  BANKRUPTCY PROCEEDINGS-GROUP 1:                        7,131,730.84
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2:                           19

PRINCIPAL BALANCE OF LOANS IN
  BANKRUPTCY PROCEEDINGS-GROUP 2:                        1,433,314.74
                                        
REO LOANS - GROUP 1:                                                9
PRINCIPAL BALANCE OF REO LOANS - GROUP 1:                  356,654.38
                                        
REO LOANS - GROUP 2:                                                7         
PRINCIPAL BALANCE OF REO LOANS - GROUP 2:                  487,598.37
                                       
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 1998 Bankers Trust Company
<PAGE>
               UCFC Acceptance Corporation
       Home Equity Loan Pass-Through Certificates                 
         
                Series 1997-A1 and 1997-A2                   
                                
            Statement To  Certificateholders                      
      
                                                                  
- --------------------------------------------------------------------
Distribution Date:  February 17, 1998                               
- --------------------------------------------------------------------

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 1998 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  66,351,021.63    348,204.63   4,871,699.62   5,219,904.25   0.00      0.00        61,479,322.01
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      350,000,000.00 323,783,751.54  1,740,742.39   6,708,839.62   8,449,582.01   0.00      0.00       317,074,911.92
R-1                0.00           0.00        816.25           0.00         816.25   0.00      0.00                 0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS   600,000,000.00 550,134,773.17  2,997,938.27  11,580,539.24  14,578,477.51   0.00      0.00       538,554,233.93
========================================================================================================================
</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     737.233574   3.868940   54.129996   57.998936     683.103578  5.725000%  5.787500%      
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     925.096433   4.973550   19.168113   24.141663     905.928320  5.865000%  5.927500%      
R-1 UC97B1101       0.000000   0.001360    0.000000    0.001360       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:         January 30, 1998                   FACTOR INFORMATION:
DISTRIBUTION DATE:   February 17, 1998                       (800) 735-7777


                        Page 13   
                                     (c) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-B1

                    Statement to Certificateholders
                                                           
                                                           
Distribution Date:     February 17, 1998

LOAN GROUP 1 PRINCIPAL BALANCE:                         227,729,322.01
TOTAL PRINCIPAL:                                          4,871,699.62
PREPAYMENTS:                                              4,343,505.12
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           2,300,082.25

LOAN GROUP 2 PRINCIPAL BALANCE:                         317,074,911.92
TOTAL PRINCIPAL:                                          6,708,839.62
PREPAYMENTS:                                              6,451,233.17
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           2,802,386.22


SUBSTITUTION AMOUNTS GROUP 1:                                     0.00
LOAN PURCHASE PRICES GROUP 1:                                     0.00

SUBSTITUTION AMOUNTS GROUP 2:                                     0.00
LOAN PURCHASE PRICES GROUP 2:                                     0.00

RESERVE ACCOUNT BALANCE:                                 17,378,054.87

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:                 6,250,000.00

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 GROUP 1:                         96,917.09    74,456.26
SERVICING FEES GROUP 2:                        134,909.90   108,238.56

GUARANTEE FEES DUE GROUP 1:                                 684,788.48
GUARANTEE FEES DUE GROUP 2:                                 576,771.16
                                                                  
    
WEIGHTED AVERAGE COUPON RATE GROUP 1                           11.8662%
WEIGHTED AVERAGE COUPON RATE GROUP 2                           10.3861%

WEIGHTED AVERAGE REMAINING TERM GROUP 1                            235
WEIGHTED AVERAGE REMAINING TERM GROUP 2                            345

                              Page 14 
                    (c) COPYRIGHT 1998 Bankers Trust Company
                               
<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-B1

                    Statement to Certificateholders

             
Distribution Date:  February 17, 1998                               
                                        
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:            5.7250%

CLASS A-7 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:            5.8650%
                                        
<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   8,751,725.66   3,634,353.70   7,470,536.04    0.00
NUMBER OF LOANS                        201             81            179       0

PRINCIPAL BALANCE - GROUP 2   8,525,603.83   4,414,586.93   7,580,280.29    0.00
NUMBER OF LOANS                        124             65            103       0

AGGREGATE PRINCIPAL BALANCE  17,277,329.49   8,048,940.63  15,050,816.33    0.00
AGGREGATE NUMBER OF LOANS              325            146            282       0

Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
      are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>                                        
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1:                           50

PRINCIPAL BALANCE OF LOANS IN 
  BANKRUPTCY PROCEEDINGS-GROUP 1:                        2,332,862.71
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2:                           44

PRINCIPAL BALANCE OF LOANS IN
  BANKRUPTCY PROCEEDINGS-GROUP 2:                        3,010,040.03
                                        
REO LOANS - GROUP 1:                                                4
PRINCIPAL BALANCE OF REO LOANS - GROUP 1:                  187,400.00
                                        
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 1998 Bankers Trust Company
<PAGE>
               UCFC Acceptance Corporation
       Home Equity Loan Pass-Through Certificates                 
         
                     Series 1997-B1                  
                                
            Statement To  Certificateholders                      
      
Distribution Date:  February 17, 1998                               

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 1998 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   260,825,973.91  2,319,753.16  3,978,877.09  6,298,630.25    0.00      0.00      256,847,096.82  
 7        30,000,000.00    30,000,000.00    393,482.87          0.00    393,482.87    0.00      0.00       30,000,000.00
R-1                0.00             0.00    260,393.63          0.00    260,393.63    0.00      0.00                0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS   300,000,000.00   290,825,973.91  2,973,629.66  3,978,877.09  6,952,506.75    0.00      0.00      286,847,096.82
========================================================================================================================
</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                 966.022126    8.591678  14.736582   23.328260    951.285544   8.025536%  8.023953%
7               1,000.000000   13.116096   0.000000   13.116096  1,000.000000   8.025536%  8.023953%
R-1                 0.000000    0.867979   0.000000    0.867979      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:         January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:   February 17, 1998                     (800) 735-7777


                        Page 17   
                                     (c) COPYRIGHT 1998 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    83,825,973.91     439,143.32  3,978,877.09   4,418,020.41  0.00      0.00       79,847,096.82
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     260,393.63          0.00     260,393.63  0.00      0.00                0.00
- -----------------------------------------------------------------------------------------------------------------------  
                                     
TOTALS: 300,000,000.00   290,825,973.91   1,990,924.45  3,978,877.09   5,969,801.54  0.00      0.00      286,847,096.82
=======================================================================================================================
</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    901.354558   4.721971   42.783625   47.505596    858.570934   5.715000% 5.715000%
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   0.867979    0.000000    0.867979      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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                      (800) 735-7777


                   Page 18
                           (c) COPYRIGHT 1998 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  387,218,727.38    2,067,586.66  3,791,309.44   5,858,896.10   0.00      0.00      383,427,417.94
R-3               0.00            0.00      346,521.40          0.00     346,521.40   0.00      0.00                0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS  400,000,000.00  387,218,727.38    2,414,108.06  3,791,309.44   6,205,417.50   0.00      0.00      383,427,417.94
</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    968.046818   5.168967   9.478274  14.647240  958.568545    5.825000% 5.825000%
R-3                   0.000000   0.866304   0.000000   0.866304    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:        January 30, 1998                  FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                     (800) 735-7777

                   Page 19
                       (c) COPYRIGHT 1998 Bankers Trust Company


<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-C 

                    Statement to Certificateholders
                                                           
                                                           
Distribution Date:     February 17, 1998

LOAN GROUP 1 PRINCIPAL BALANCE:                         286,847,096.82
TOTAL PRINCIPAL:                                          3,978,877.09
PREPAYMENTS:                                              3,471,350.42
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           2,869,676.16

LOAN GROUP 2 PRINCIPAL BALANCE:                         383,428,209.55
TOTAL PRINCIPAL:                                          3,791,309.44
PREPAYMENTS:                                              3,532,061.06
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           3,346,486.27


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:                        121,177.49   100,939.01
SERVICING FEES GROUP 2:                        161,341.47   139,848.32

GUARANTEE FEES DUE GROUP 1:                                 768,207.40
GUARANTEE FEES DUE GROUP 2:                                 695,892.31
                                                                  
    
WEIGHTED AVERAGE COUPON RATE GROUP 1                           11.8408%
WEIGHTED AVERAGE COUPON RATE GROUP 2                           10.3708%

WEIGHTED AVERAGE REMAINING TERM GROUP 1                            236
WEIGHTED AVERAGE REMAINING TERM GROUP 2                            337

                              Page 20 
                                  (c) COPYRIGHT 1998 Bankers Trust Company
                               
<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-C

                    Statement to Certificateholders

             
Distribution Date:  February 17, 1998                               
                                        
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:            5.715000%

CLASS A-8 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:            5.825000%
                                        
<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    7,098,136.30   3,021,209.55  2,031,556.22  0.00
NUMBER OF LOANS                         196             67            55     0

PRINCIPAL BALANCE - GROUP 2    8,850,857.17   2,564,285.38  2,481,036.66  0.00
NUMBER OF LOANS                         128             37            30     0

AGGREGATE PRINCIPAL BALANCE   15,948,993.47   5,585,494.93  4,512,592.88  0.00
AGGREGATE NUMBER OF LOANS               324            104            85     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:                          980,722.80
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2:                           24

PRINCIPAL BALANCE OF LOANS IN
  BANKRUPTCY PROCEEDINGS-GROUP 2:                        1,614,514.78
                                        
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 1998 Bankers Trust Company
<PAGE>
               UCFC Acceptance Corporation
       Home Equity Loan Pass-Through Certificates                 
         
                     Series 1997-C                  
                                
            Statement To  Certificateholders                      
      
Distribution Date:  February 17, 1998                               

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 1998 Bankers Trust Company


            UCFC Acceptance Corporation     EXHIBIT 20.6
     Home Equity Loan Pass-Through Certificates
                  Series 1997-D 
                       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   268,753,299.81  2,349,341.10  2,643,389.69  4,992,730.79    0.00      0.00      266,109,910.12  
 7        30,000,000.00    30,000,000.00    387,248.81          0.00    387,248.81    0.00      0.00       30,000,000.00
R-1                0.00             0.00     83,840.56          0.00     83,840.56    0.00      0.00                0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS   300,000,000.00   298,753,299.81  2,820,430.47  2,643,389.69  5,463,820.16    0.00      0.00      296,109,910.12
========================================================================================================================
</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                 995.382592    8.701263   9.790332   18.491596    985.592260   7.901834%  7.901587%
7               1,000.000000   12.908294   0.000000   12.908294  1,000.000000   7.901834%  7.901587%
R-1                 0.000000    0.279469   0.000000    0.279469      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:         January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:   February 17, 1998                     (800) 735-7777


                        Page 23   
                                     (c) COPYRIGHT 1998 Bankers Trust Company

<PAGE>
                          UCFC Acceptance Corporation
                 Home Equity Loan Pass-Through Certificates
                             Series 1997-D
                                 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      95,300,000.00    94,053,299.81     497,032.50  2,643,389.69   3,140,422.19  0.00      0.00       91,409,910.12
A-2      47,500,000.00    47,500,000.00     256,302.08          0.00     256,302.08  0.00      0.00       47,500,000.00
A-3      38,200,000.00    38,200,000.00     207,235.00          0.00     207,235.00  0.00      0.00       38,200,000.00
A-4      40,400,000.00    40,400,000.00     224,556.67          0.00     224,556.67  0.00      0.00       40,400,000.00
A-5      18,110,000.00    18,110,000.00     101,944.21          0.00     101,944.21  0.00      0.00       18,110,000.00
A-6      30,490,000.00    30,490,000.00     180,272.13          0.00     180,272.13  0.00      0.00       30,490,000.00
A-7      30,000,000.00    30,000,000.00     167,000.00          0.00     167,000.00  0.00      0.00       30,000,000.00
A-IO              0.00             0.00     125,000.00          0.00     125,000.00  0.00      0.00                0.00
R-2               0.00             0.00      83,840.56          0.00      83,840.56  0.00      0.00                0.00
- -----------------------------------------------------------------------------------------------------------------------  
                                     
TOTALS: 300,000,000.00   298,753,299.81   1,843,183.15  2,643,389.69   4,486,572.84  0.00      0.00      296,109,910.12
=======================================================================================================================
</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    90263BFL7    986.918151   5.215451   27.737562   32.953014    959.180589   5.765000% 5.765000%
A-2    90263BFM5  1,000.000000   5.395833    0.000000    5.395833  1,000.000000   6.475000% 6.475000%
A-3    90263BFN3  1,000.000000   5.425000    0.000000    5.425000  1,000.000000   6.510000% 6.510000%
A-4    90263BFP8  1,000.000000   5.558333    0.000000    5.558333  1,000.000000   6.670000% 6.670000%
A-5    90263BFQ6  1,000.000000   5.629167    0.000000    5.629167  1,000.000000   6.755000% 6.755000%
A-6    90263BFR4  1,000.000000   5.912500    0.000000    5.912500  1,000.000000   7.095000% 7.095000%
A-7    90263BFS2  1,000.000000   5.566667    0.000000    5.566667  1,000.000000   6.680000% 6.680000%
A-IO   90263BFT0      0.000000   4.166667    0.000000    4.166667      0.000000   5.000000% 5.000000%
R-2                   0.000000   0.279469    0.000000    0.279469      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:        January 30, 1998                    FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                      (800) 735-7777


                   Page 24
                           (c) COPYRIGHT 1998 Bankers Trust Company


<PAGE>
                       UCFC Acceptance Corporation
                  Home Equity Loan Pass-Through Certificates
                              Series 1997-D
                                 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     375,000,000.00  373,192,581.10    1,999,534.75  7,472,645.22   9,472,179.97   0.00      0.00      365,719,935.88
A-9     200,000,000.00  198,830,594.19    1,063,495.14  1,394,354.21   2,457,849.35   0.00      0.00      197,436,239.98
R-3               0.00            0.00    1,111,303.21          0.00   1,111,303.21   0.00      0.00                0.00
- ------------------------------------------------------------------------------------------------------------------------
TOTALS  575,000,000.00  572,023,175.29    4,174,333.10  8,866,999.43  13,041,332.53   0.00      0.00      563,156,175.86
</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    90263BFU7    995.180216   5.332093  19.927054  25.259147  975.253162    5.845000% 5.845000%
A-9    90263BFV5    994.152971   5.317476   6.971771  12.289247  987.181200    5.835000% 5.835000%
R-3                   0.000000   3.704344   0.000000   3.704344    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:        January 30, 1998                  FACTOR INFORMATION:
DISTRIBUTION DATE:  February 17, 1998                     (800) 735-7777

                   Page 25
                       (c) COPYRIGHT 1998 Bankers Trust Company


<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-D 

                    Statement to Certificateholders
                                                           
                                                           
Distribution Date:     February 17, 1998

LOAN GROUP 1 PRINCIPAL BALANCE:                         296,109,910.12
TOTAL PRINCIPAL:                                          2,643,389.69
PREPAYMENTS:                                              2,189,368.12
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           2,894,680.20

LOAN GROUP 2 PRINCIPAL BALANCE:                         349,857,323.65
TOTAL PRINCIPAL:                                          7,472,645.22
PREPAYMENTS:                                              7,192,751.94
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           2,942,692.78

LOAN GROUP 3 PRINCIPAL BALANCE:                         147,436,967.83
TOTAL PRINCIPAL:                                          1,394,354.21
PREPAYMENTS:                                              1,279,771.61
NET LIQUIDATION PROCEEDS:                                         0.00
TOTAL INTEREST:                                           1,213,766.54

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


SUBSTITUTION AMOUNTS GROUP 3:                                     0.00
LOAN PURCHASE PRICES GROUP 3:                                     0.00

RESERVE ACCOUNT BALANCE:                                 16,907,545.44

                                                                      
SPECIFIED RESERVE ACCOUNT REQUIREMENT:                   55,562,500.00

CUMULATIVE RESERVE ACCOUNT WITHDRAWALS
    AS OF THE CURRENT PAYMENT DATE:                          11,905.30
RESERVE ACCOUNT WITHDRAWALS SINCE 
    PRIOR PAYMENT DATE:                                       6,411.93

SUBORDINATED AMOUNT AS OF THE CURRENT PAYMENT DATE:     148,738,094.70

GROUP 1 INSURED PAYMENT RELATING 
    TO THE CURRENT PAYMENT DATE:                                  0.00
GROUP 2 INSURED PAYMENT RELATING
    TO THE CURRENT PAYMENT DATE:                                  0.00
GROUP 3 INSURED PAYMENT RELATING
    TO THE CURRENT PAYMENT DATE:                                  0.00

                              Page 26 
                                  (c) COPYRIGHT 1998 Bankers Trust Company
<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-D 

                    Statement to Certificateholders
                                                           
                                                           
Distribution Date:     February 17, 1998

                                            Total Accrued    Total Due
                                            -------------    ---------
SERVICING FEES GROUP 1:                        124,480.54   100,702.47
SERVICING FEES GROUP 2:                        148,887.49   118,686.44
SERVICING FEES GROUP 3:                         62,013.05    58,361.78

GUARANTEE FEES DUE GROUP 1:                                 769,340.83
GUARANTEE FEES DUE GROUP 2:                                 545,389.96
GUARANTEE FEES DUE GROUP 3:                                 220,316.48 
                                                     
WEIGHTED AVERAGE COUPON RATE GROUP 1                           11.6270%
WEIGHTED AVERAGE COUPON RATE GROUP 2                            9.8823%
WEIGHTED AVERAGE COUPON RATE GROUP 3                            9.7864%

WEIGHTED AVERAGE REMAINING TERM GROUP 1                            242
WEIGHTED AVERAGE REMAINING TERM GROUP 2                            345
WEIGHTED AVERAGE REMAINING TERM GROUP 3                            339

                                        
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

GROUP 3 REALIZED LOSSES FOR THE
  RELATED REMITTANCE PERIOD:                                      0.00
GROUP 3 CUMULATIVE REALIZED LOSSES
  AS OF THE CURRENT PAYMENT DATE:                                 0.00

CLASS A-1 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:          5.765000%

CLASS A-8 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:          5.845000%
   
CLASS A-9 LIBOR RATE FOR THE RELATED ACCRUAL PERIOD:          5.835000%
         
                               Page 27 
                               (c) COPYRIGHT 1998 Bankers Trust Company
<PAGE>

                     UCFC Acceptance Corporation
            Home Equity Loan Pass-Through Certificates
                         Series 1997-D 

                    Statement to Certificateholders
                                                           
                                                           
Distribution Date:     February 17, 1998
                           
<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    2,353,401.72           0.00          0.00  0.00
NUMBER OF LOANS                          58              0             0     0

PRINCIPAL BALANCE - GROUP 2    1,372,788.41     451,911.27          0.00  0.00
NUMBER OF LOANS                          16              3             0     0

PRINCIPAL BALANCE - GROUP 3      325,077.60           0.00          0.00  0.00
NUMBER OF LOANS                           7              0             0     0

AGGREGATE PRINCIPAL BALANCE    4,051,267.73     451,911.27          0.00  0.00
AGGREGATE NUMBER OF LOANS                81              3             0     0

Note: Quantity and Principal Balance of Foreclosures and Bankruptcies
      are Included in the Delinquency Figures.
- -----------------------------------------------------------------------------------
</TABLE>                                        
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 1:                            8 

PRINCIPAL BALANCE OF LOANS IN 
  BANKRUPTCY PROCEEDINGS-GROUP 1:                          558,152.19
                                        
LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 2:                            1

PRINCIPAL BALANCE OF LOANS IN
  BANKRUPTCY PROCEEDINGS-GROUP 2:                          116,048.64

LOANS IN BANKRUPTCY PROCEEDINGS-GROUP 3:                            1

PRINCIPAL BALANCE OF LOANS IN
  BANKRUPTCY PROCEEDINGS-GROUP 3:                            56,827.81         
                              
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
 
REO LOANS - GROUP 3:                                                0
PRINCIPAL BALANCE OF REO LOANS - GROUP 3:                        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 28   

                           (c) COPYRIGHT 1998 Bankers Trust Company
<PAGE>
               UCFC Acceptance Corporation
       Home Equity Loan Pass-Through Certificates                 
         
                     Series 1997-D                  
                                
            Statement To  Certificateholders                      
      
Distribution Date:  February 17, 1998                               

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
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 THREE 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 THREE INTEREST SHORTFALL - CURRENT MONTH               0.00

GROUP ONE PRINCIPAL SHORTFALL - CURRENT MONTH                0.00
GROUP TWO PRINCIPAL SHORTFALL - CURRENT MONTH                0.00
GROUP THREE PRINCIPAL SHORTFALL - CURRENT MONTH              0.00

                              PAGE 29  

                               (c) COPYRIGHT 1998 Bankers Trust Company


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