ECC Capital Corporation (Form: 8-K)  

 

UNITED STATES
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):   September 21, 2005

ECC Capital Corporation
__________________________________________
(Exact name of registrant as specified in its charter)

     
Maryland 001-32430 841642470
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1833 Alton Parkway, Irvine, California   92606
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (949) 856-8300

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry into a Material Definitive Agreement.

On September 21, 2005, the registrant, Encore Credit Corp., a direct wholly owned subsidiary of the registrant, Bravo Credit Corporation, an indirect wholly owned subsidiary of the registrant, and Wachovia Bank, National Association entered into Amendment No. 2 to the Amended and Restated Master Repurchase Agreement ("Amendment No. 2"). The purpose of Amendment No. 2 was to increase the ratio of indebtedness to tangible net worth from 16:1 to 25:1. Amendment No. 2 is filed as Exhibit 10.1.





Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

10.1 Amendment No. 2 to Amended and Restated Master Repurchase Agreement, dated as of September 21, 2005, by and among ECC Capital Corporation, Encore Credit Corp., Bravo Credit Corporation and Wachovia Bank, National Association.






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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 hereunto duly authorized.

         
    ECC Capital Corporation
          
September 27, 2005   By:   Shahid S. Asghar
       
        Name: Shahid S. Asghar
        Title: President & Co-Chief Executive Officer

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Exhibit Index


     
Exhibit No.   Description
 
10.1
  Amendment No. 2 to Amended and Restated Master Repurchase Agreement, dated as of September 21, 2005, by and among ECC Capital Corporation, Encore Credit Corp., Bravo Credit Corporation and Wachovia Bank, National Association.