8-K 1 eqc012_edgar0203.txt EQCC RECEIVABLES CORP, EQCC TRUST SERIES 2001-2 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): March 25, 2002 EQCC Receivables Corporation (Depositor) Delaware 33-66152 59-3170055 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) 10401 Deerwood Park Blvd, Jacksonville, FL 32256 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: 904-987-5000 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Item 5. Other Events EQCC Receivables Corporation EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 On March 25, 2002, The Bank of New York, as Trustee for EQCC Trust 2001-2 made a monthly distribution of principal and/or interest to the Holders of the EQCC Asset Backed Certificates, Series 2001-2. The monthly distributions were made pursuant to the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of December 1, 2001 by and among EQCC Receivables Corporation as Depositor, EquiCredit Corporation of America, as Transferor and Initial Servicer, Bank of America, N.A., as Advancing Party, Fairbanks Capital Corp., as Expected Successor Servicer and The Bank of New York, as Trustee. All capitalized terms used, but not defined herein, shall have the meanings assigned to them in the Pooling and Servicing Agreement. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of EQCC Asset Backed Certificates, Series 2001-2 relating to the Distribution Date of March 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 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. Dated: March 25, 2002 By: /s/ Diane Pickett ------------------------------ Name: Diane Pickett Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Report to Holders of EQCC Asset Backed Certificates, Series 2001-2 relating to the Distribution Date of March 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 99 Monthly Remittance Statement dated March 25, 2002 Payment Date: 03/25/02 ------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------
Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 1,870,076,640.57 2.810000% 54,703,428.23 4,087,156.39 58,790,584.62 0.00 0.00 A2 1,782,873,298.32 2.810000% 74,405,122.95 3,896,568.64 78,301,691.59 0.00 0.00 A3 938,841,132.08 2.810000% 43,542,823.73 2,051,889.45 45,594,713.18 0.00 0.00 A4 1,044,924,992.22 2.810000% 28,991,878.34 2,283,741.62 31,275,619.96 0.00 0.00 A5 783,353,203.20 2.810000% 21,262,873.24 1,712,061.95 22,974,935.19 0.00 0.00 A6 1,502,854,566.98 5.470000% 34,099,896.22 6,850,512.07 40,950,408.29 0.00 0.00 A7 1,674,070,205.11 5.470000% 43,633,336.29 7,630,970.02 51,264,306.30 0.00 0.00 X 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 Residual R1 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 9,596,994,038.48 - 300,639,358.99 28,512,900.14 329,152,259.13 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 1,815,373,212.34 0.00 A2 1,708,468,175.37 0.00 A3 895,298,308.36 0.00 A4 1,015,933,113.88 0.00 A5 762,090,329.96 0.00 A6 1,468,754,670.76 0.00 A7 1,630,436,868.83 0.00 X 0.00 0.00 Residual R1 0.00 0.00 R2 0.00 0.00 R3 0.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 9,296,354,679.48 - --------------------------------------------------------------------------------
Payment Date: 03/25/02 ------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------
Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 1,870,076,640.57 2.810000% 26882JAE6 27.392392 2.046617 909.036525 A2 1,782,873,298.32 2.810000% 26882JAF3 37.534033 1.965643 861.845243 A3 938,841,132.08 2.810000% 26882JAG1 41.262688 1.944442 848.415695 A4 1,044,924,992.22 2.810000% 26882JAH9 25.991003 2.047357 910.776459 A5 783,353,203.20 2.810000% 26882JAJ5 24.957073 2.009515 894.495487 A6 1,502,854,566.98 5.470000% 26882JAK2 21.576483 4.334616 929.344763 A7 1,674,070,205.11 5.470000% 26882JAL0 24.433058 4.273062 912.984469 X 0.00 0.000000% 0.000000 0.000000 0.000000 Residual R1 0.00 0.000000% 0.000000 0.000000 0.000000 R2 0.00 0.000000% 0.000000 0.000000 0.000000 R3 0.00 0.000000% 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 9,596,994,038.48 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- PrinBal 1,841,111,992.85 1,736,940,437.86 910,209,039.76 1,033,810,166.04 LnCt 16116 16077 10168 11279 AvgLnRate 9.162301% 9.951093% 9.866018% 10.587040% PpyAmt 44,752,725.22 63,747,658.84 37,797,533.17 22,197,181.68 Total ----- PrinBal 772,834,126.37 1,486,607,971.11 1,646,273,735.44 9,427,787,469.43 LnCt 3879 21659 20598 99776 AvgLnRate 9.128242% 10.933903% 9.815766% 9.92 PpyAmt 16,754,153.76 26,585,834.63 36,195,942.46 248,031,029.76 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- MSF 789,853.75 751,739.29 399,547.12 439,810.74 329,454.04 639,508.12 SSF 0.00 0.00 0.00 0.00 0.00 0.00 TF 0.00 0.00 0.00 0.00 0.00 0.00 AggAdv N/A N/A N/A N/A N/A N/A AdvPd 0.00 0.00 0.00 0.00 0.00 0.00 Total ----- MSF 714,991.43 4,064,904.49 SSF 0.00 0.00 TF 0.00 0.00 AggAdv N/A N/A AdvPd 0.00 0.00 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- RealLoss 0.00 0.00 12,657.83 3,863.96 0.00 0.00 0.00 16,521.79 CumLoss 11,339.71 0.00 13,068.11 50,521.43 0.00 0.00 0.00 74,929.25 Coverage Amounts Total ---------------- ----- Bank 0.00 0.00 0.00 0.00 0.00 0.00 Fraud 0.00 0.00 0.00 0.00 0.00 0.00 SpecHaz 0.00 0.00 0.00 0.00 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 100.000000% 100.000000% 9,596,994,038.48 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 7594 638,983,163.01 60 to 89 days 2730 228,915,037.73 90 or more 2658 225,286,904.83 Foreclosure 757 70,096,940.58 Totals: 13739 1,163,282,046.15 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 329,152,259.13 329,152,259.13 Principal remittance amount 300,639,358.99 300,639,358.99 Interest remittance amount 28,512,900.14 28,512,900.14