FIRST BANK NATIONAL ASSOCIATION AS TRUSTEE
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FIRST BANK NATIONAL ASSOCIATION
AS TRUSTEE
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1
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FROM: SEPT. 15, 1996
TO: OCT. 15, 1996
ORIGINAL BEGINNING PRINCIPAL ENDING INTEREST
SECURITY DESCRIPTION RATE MATURITY FACE BALANCE REDUCTIONS BALANCE PAYABLE
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CLASS A-1 5.610000% Dec. 15, 2003 108,420,000.00 78,000,949.43 6,067,702.12 71,933,247.31 364,654.44
CLASS A-2 5.820000% Sept. 15, 2009 92,880,000.00 92,880,000.00 0.00 92,880,000.00 450,468.00
CLASS A-3 6.190000% Dec. 15, 2010 30,290,000.00 30,290,000.00 0.00 30,290,000.00 156,245.92
CLASS A-4 6.560000% Mar. 15, 2023 36,870,000.00 36,870,000.00 0.00 36,870,000.00 201,556.00
CLASS A-5 6.930000% Mar. 15, 2027 10,700,000.00 10,700,000.00 0.00 10,700,000.00 61,792.50
CLASS A-6 5.863910% Feb. 15, 2027 32,464,000.00 27,490,483.82 498,718.02 26,991,765.80 129,856.94 *
CLASS R VARIABLE Mar. 15, 2027 0.00 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------- --------------
TOTAL 311,624,000.00 276,231,433.25 6,566,420.14 269,665,013.11 1,364,573.80
BALANCE BALANCE BALANCE BALANCE
CUSIP PER $1,000 PER $1,000 PER $1,000 PER $1,000
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CLASS A-1 000000XX0 719.43321740 55.96478620 663.46843119 3.36335029
CLASS A-2 000000XX0 1,000.00000000 0.00000000 1000.00000000 4.85000000
CLASS A-3 000000XX0 1,000.00000000 0.00000000 1000.00000000 5.15833333
CLASS A-4 000000XX0 1,000.00000000 0.00000000 1000.00000000 5.46666667
CLASS A-5 000000XX0 1,000.00000000 0.00000000 1000.00000000 5.77500000
CLASS A-6 000000XX0 846.79903339 15.36218642 831.43684697 4.00002906
CLASS R
* Interest Payable reflects actual number of days from the previous Payment Date
to the current Payment Date.
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FIRST BANK NATIONAL ASSOCIATION PYMT PER FROM DATE SEPT. 15, 1996
AS TRUSTEE PYMT PER TO DATE OCT. 15, 1996
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1
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PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-1 CLASS A-2 CLASS A-3
108,420,000.00 92,880,000.00 30,290,000.00
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CLASS A-1 PRINCIPAL BALANCE (Beginning) 78,000,949.43 719.43321740
CLASS A-2 PRINCIPAL BALANCE (Beginning) 92,880,000.00 1000.00000000
CLASS A-3 PRINCIPAL BALANCE (Beginning) 30,290,000.00 1000.00000000
CLASS A-4 PRINCIPAL BALANCE (Beginning) 36,870,000.00
CLASS A-5 PRINCIPAL BALANCE (Beginning) 10,700,000.00
CLASS A-6 PRINCIPAL BALANCE (Beginning) 27,490,483.82
Fixed Rate POOL PRINCIPAL BALANCE (Beginning) 248,740,949.43 2294.23491450 2678.08946415 8211.98248366
Variable Rate POOL PRINCIPAL BALANCE (Beginning) 27,490,483.82
Total POOL PRINCIPAL BALANCE (Beginning) 276,231,433.25 2547.79038231 2974.06797211 9119.55870749
MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 131
PRINCIPAL BALANCE OF Fixed Rate MORTGAGES PREPAYING 5,662,209.28 52.22476739
PRINCIPAL BALANCE OF Var. Rate MORTGAGES PREPAYING 484,548.53
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 6,146,757.81
AMOUNT OF Fixed Rate CURTAILMENTS RECEIVED 33,776.82 0.31153680
AMOUNT OF Variable Rate CURTAILMENTS RECEIVED 178.87
TOTAL AMOUNT OF CURTAILMENTS RECEIVED 33,955.69
AGGREGATE AMOUNT OF PRINCIPAL PORTION OF -
MONTHLY PAYMENTS RECEIVED - Fixed Rate Pool 347,517.42 3.20528888
MONTHLY PAYMENTS RECEIVED - Var. Rate Pool 13,990.62
MONTHLY PAYMENTS RECEIVED - Total Pool 361,508.04
ENDING CLASS A-1 PRINCIPAL BALANCE 71,933,247.31 663.46843119
ENDING CLASS A-2 PRINCIPAL BALANCE 92,880,000.00 1000.00000000
ENDING CLASS A-3 PRINCIPAL BALANCE 30,290,000.00 1000.00000000
ENDING CLASS A-4 PRINCIPAL BALANCE 36,870,000.00
ENDING CLASS A-5 PRINCIPAL BALANCE 10,700,000.00
ENDING CLASS A-6 PRINCIPAL BALANCE 26,991,765.80
Fixed Rate POOL PRINCIPAL BALANCE (Ending) 242,673,247.31 2238.27012830 2612.76106062 8011.66217597
Variable Rate POOL PRINCIPAL BALANCE (Ending) 26,991,766.80
Total POOL PRINCIPAL BALANCE (Ending) 269,666,013.11 2487.22572505 2903.37008086 8902.77362529
PER $1,000 PER $1,000 PER $1,000
ORIGINAL BAL ORIGINAL BAL ORIGINAL BAL
CLASS A-4 CLASS A-5 CLASS A-6
36,870,000.00 10,700,000.00 32,464,000.00
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CLASS A-1 PRINCIPAL BALANCE (Beginning) 78,000,949.43
CLASS A-2 PRINCIPAL BALANCE (Beginning) 92,880,000.00
CLASS A-3 PRINCIPAL BALANCE (Beginning) 30,290,000.00
CLASS A-4 PRINCIPAL BALANCE (Beginning) 36,870,000.00 1000.00000000
CLASS A-5 PRINCIPAL BALANCE (Beginning) 10,700,000.00 1000.00000000
CLASS A-6 PRINCIPAL BALANCE (Beginning) 27,490,483.82 846.79903339
Fixed Rate POOL PRINCIPAL BALANCE (Beginning) 248,740,949.43 6746.43204312 23246.81770374 846.79903339
Variable Rate POOL PRINCIPAL BALANCE (Beginning) 27,490,483.82
Total POOL PRINCIPAL BALANCE (Beginning) 276,231,433.25 7492.03778817 25816.02179907
MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 131
PRINCIPAL BALANCE OF Fixed Rate MORTGAGES PREPAYING 5,662,209.28
PRINCIPAL BALANCE OF Var. Rate MORTGAGES PREPAYING 484,548.53 14.92571864
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 6,146,757.81
AMOUNT OF Fixed Rate CURTAILMENTS RECEIVED 33,776.82
AMOUNT OF Variable Rate CURTAILMENTS RECEIVED 178.87 0.00550980
TOTAL AMOUNT OF CURTAILMENTS RECEIVED 33,955.69
AGGREGATE AMOUNT OF PRINCIPAL PORTION OF -
MONTHLY PAYMENTS RECEIVED - Fixed Rate Pool 347,517.42
MONTHLY PAYMENTS RECEIVED - Var. Rate Pool 13,990.62 0.4309578
MONTHLY PAYMENTS RECEIVED - Total Pool 361,508.04
ENDING CLASS A-1 PRINCIPAL BALANCE 71,933,247.31
ENDING CLASS A-2 PRINCIPAL BALANCE 92,880,000.00
ENDING CLASS A-3 PRINCIPAL BALANCE 30,290,000.00
ENDING CLASS A-4 PRINCIPAL BALANCE 36,870,000.00 1000.00000000
ENDING CLASS A-5 PRINCIPAL BALANCE 10,700,000.00 1000.00000000
ENDING CLASS A-6 PRINCIPAL BALANCE 26,991,765.80 831.43684697
Fixed Rate POOL PRINCIPAL BALANCE (Ending) 242,673,247.31 6581.86187442 22679.74273925
Variable Rate POOL PRINCIPAL BALANCE (Ending) 26,991,765.80 831.43684697
Total POOL PRINCIPAL BALANCE (Ending) 269,665,013.11 7313.94122891 25202.33767383 8306.58616036
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FIRST BANK NATIONAL ASSOCIATION
AS TRUSTEE
REMITTANCE REPORT FOR
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1
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FROM SEPT. 15, 1996
TO OCT. 15, 1996
FIXED RATE VARIABLE RATE
TOTAL GROUP GROUP
-------- -------------------------------------------------- ------------------ ------------------ ------------------
(i) AVAILABLE PAYMENT AMOUNT 7,929,267.42 7,298,443.15 630,824.28
Portions subject to bankrupty 0.00
(ii) CLASS A-1 PRINCIPAL BALANCE (Beginning) 78,000,949.43
CLASS A-2 PRINCIPAL BALANCE (Beginning) 92,880,000.00
CLASS A-3 PRINCIPAL BALANCE (Beginning) 30,290,000.00
CLASS A-4 PRINCIPAL BALANCE (Beginning) 36,870,000.00
CLASS A-5 PRINCIPAL BALANCE (Beginning) 10,700,000.00
CLASS A-6 PRINCIPAL BALANCE (Beginning) 27,490,483.82
POOL PRINCIPAL BALANCE (Beginning) 276,231,433.25 248,740,949.43 27,490,483.82
(iii) MORTGAGES:
NUMBER OF PRINCIPAL PREPAYMENTS 131 123 8
PRINCIPAL BALANCE OF MORTGAGES PREPAYING 6,146,757.81 5,662,209.28 484,548.53
(iv) AMOUNT OF CURTAILMENTS RECEIVED 33,955.69 33,776.82 178.87
(v) AGGREGATE AMOUNT OF PRINCIPAL PORTION OF
MONTHLY PAYMENTS RECEIVED 361,508.04 347,517.42 13,990.62
(vi) INTEREST RECEIVED ON MORTGAGES 2,399,577.13 2,182,646.70 216,930.43
(vii) AGGREGATE ADVANCES 2,040,977.66 1,833,320.21 207,657.45
(viii) MORTGAGE DELINQUENCIES 30-59 DAYS:
NUMBER 148 135 13
PRINCIPAL BALANCE 7,138,700.19 5,948,476.07 1,190,224.12
% OF PRINCIPAL 2.650000% 2.450000% 4.410000%
MORTGAGE DELINQUENCIES 60-90 DAYS:
NUMBER 54 51 3
PRINCIPAL BALANCE 2,386,618.05 2,153,929.58 232,688.47
% OF PRINCIPAL 0.890000% 0.890000% 0.860000%
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FIRST BANK NATIONAL ASSOCIATION
AS TRUSTEE
REMITTANCE REPORT FOR
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1
------------------------------------------------------------------------------------------------------------------------
FROM SEPT. 15, 1996
TO OCT. 15, 1996
FIXED RATE VARIABLE RATE
TOTAL GROUP GROUP
-------- -------------------------------------------------- ------------------ ------------------ ------------------
MORTGAGE DELINQUENCIES 90 DAYS OR MORE:
NUMBER 146 135 11
PRINCIPAL BALANCE 7,180,835.04 6,313,656.97 867,178.07
% OF PRINCIPAL 2.660000% 2.600000% 3.210000%
MORTGAGES IN FORECLOSURE:
NUMBER 60 56 4
PRINCIPAL BALANCE 3,167,277.12 2,939,538.34 227,738.78
% OF PRINCIPAL 1.170000% 1.210000% 0.840000%
MORTGAGES IN BANKRUPTCY
NUMBER 61 58 3
PRINCIPAL BALANCE 2,347,046.78 2,192,060.33 154,986.45
% OF PRINCIPAL 0.870000% 0.900000% 0.570000%
MORTGAGE LOAN LOSSES 24,198.60 24,198.60 0.00
(ix) ENDING CLASS A-1 PRINCIPAL BALANCE 71,933,247.31
ENDING CLASS A-2 PRINCIPAL BALANCE 92,880,000.00
ENDING CLASS A-3 PRINCIPAL BALANCE 30,290,000.00
ENDING CLASS A-4 PRINCIPAL BALANCE 36,870,000.00
ENDING CLASS A-5 PRINCIPAL BALANCE 10,700,000.00
ENDING CLASS A-6 PRINCIPAL BALANCE 26,991,765.80
(x) WEIGHTED AVERAGE MATURITY OF MORTGAGE LOANS 170.36692783 171.70826540 158.30744479
WEIGHTED AVERAGE MORTGAGE INTEREST RATE 11.046368% 10.454196%
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FIRST BANK NATIONAL ASSOCIATION
AS TRUSTEE
REMITTANCE REPORT FOR
EQCC HOME EQUITY LOAN ASSET BACKED CERTIFICATES, SERIES 1996-1
------------------------------------------------------------------------------------------------------------------------
FROM SEPT. 15, 1996
TO OCT. 15, 1996
FIXED RATE VARIABLE RATE
TOTAL GROUP GROUP
-------- -------------------------------------------------- ------------------ ------------------ ------------------
(xi) SERVICING FEES PAID 131,177.01 118,747.43 12,429.58
SERVICING FEES ACCRUED 135,994.55 122,422.71 13,571.84
(xii) SECTION 5.04 SERVICER PAYMENTS OR REIMBSMTS. 0.00
(xiii) POOL PRINCIPAL BALANCE (ENDING) 269,665,013.11 242,673,247.31 26,991,765.80
(xiv) RESERVED
(xv) REIMBURSABLE AMOUNTS:
TO SERVICER 0.00
TO REPRESENTATIVE 0.00
TO DEPOSITORS 0.00
(xvi) NUMBER OF MORTGAGES OUTSTANDING (BEGINNING) 5977 5669 308
NUMBER OF MORTGAGES OUTSTANDING (END) 5846 5546 300
(xvii) AGGREGATE INTEREST ACCRUED ON THE MORTGAGE LOANS 2,494,022.08 2,256,938.97 237,083.11
(xviii) SUBORDINATED AMOUNT (REMAINING) 27,866,149.40
SPREAD ACCOUNT BALANCE( AFTER DISTRIBUTIONS) 5,028,459.42
EXCESS SPREAD 970,981.65
CUMMULATIVE EXCESS SPREAD ACCOUNT RECEIPTS 24,198.60
(xviiii) AGGREGATE MORTGAGE LOAN LOSSES 24,198.60
