8-K 1 eqc012_8k0211.txt 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): November 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 November 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 November 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: November 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 November 25, 2002 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 99 Monthly Remittance Statement dated November 25, 2002 Payment Date: 11/25/02 ------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------

Payment Date: 11/25/02 ------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------

------------------------------------------------------------ EQCC Trust 2001-2 EQCC Asset Backed Certificates, Series 2001-2 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Prin balance 1,386,446,299.39 1,223,111,292.77 622,896,800.35 Loan count 12417 11911 7483 Avg loan rate 9.106526% 9.955309% 9.693215% Prepay amount 52,279,595.38 55,011,799.90 29,615,586.28 Prin balance 829,537,470.33 563,140,624.84 1,220,359,030.31 Loan count 9247 3080 18249 Avg loan rate 10.448176% 9.045864% 10.939975% Prepay amount 24,548,157.14 20,467,369.89 31,494,260.39 Total ----- Prin balance 1,273,721,520.27 7,119,213,038.26 Loan count 16917 79304 Avg loan rate 9.801677% 9.89 Prepay amount 51,577,213.83 264,993,982.81 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Master serv fees 596,852.02 530,263.25 270,349.40 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 0.00 0.00 0.00 Master serv fees 353,906.25 241,628.49 519,613.01 Sub servicer fees 0.00 0.00 0.00 Trustee fees 0.00 0.00 0.00 Agg advances N/A N/A N/A Adv this period 0.00 0.00 0.00 Total ----- Master serv fees 550,116.45 3,062,728.87 Sub servicer fees 0.00 0.00 Trustee fees 0.00 0.00 Agg advances N/A N/A Adv this period 0.00 0.00 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Realized losses 225,488.57 118,460.20 114,174.90 Cumulative losses 1,050,834.74 652,389.04 282,542.93 Realized losses 299,568.61 386,223.33 816,823.33 Cumulative losses 825,317.20 614,731.12 1,791,358.91 Total ----- Realized losses 580,411.71 2,541,150.65 Cumulative losses 1,321,480.53 6,538,654.47 Coverage Amounts ---------------- Bankruptcy 0.00 0.00 0.00 Fraud 0.00 0.00 0.00 Special Hazard 0.00 0.00 0.00 Bankruptcy 0.00 0.00 0.00 Fraud 0.00 0.00 0.00 Special Hazard 0.00 0.00 0.00 Total ----- Bankruptcy 0.00 0.00 Fraud 0.00 0.00 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 100.000000% 100.000000% 7,008,477,425.34 ----------------------------------------------------------------------------- Junior 0.000000% 0.000000% 0.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 4233 318,860,284.84 60 to 89 days 621 43,425,350.34 90 or more 902 54,503,790.66 Foreclosure 7466 668,317,704.67 Totals: 13222 1,085,107,130.51 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 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 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 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 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 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 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 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 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 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 N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 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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 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 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 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 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 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 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: 63,062,304.67 Current Total Outstanding Number of Loans: 726 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 337,312,266.87 337,312,266.87 Principal remittance amount 315,040,954.38 315,040,954.38 Interest remittance amount 22,271,312.49 22,271,312.49

EQCC RECEIVABLES CORP 8-K