10

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                 _______________
                                    FORM 10-K

                                 CURRENT REPORT

              Annual Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                   For the fiscal year ended December 31, 2002

                                    33-80837
                              (Commission File No.)


                      NATIONSCREDIT GRANTOR TRUST 1996 - 1
                      ------------------------------------
               (Exact name of registrant as specified in charter)

Delaware                                                              75-265544
--------                                                              ---------
(State  or  other  jurisdiction                                  (IRS  Employer
of  incorporation  or  organization)                       Identification  No.)

1355  Windward  Concourse,  Alpharetta  Georgia                           30005
-----------------------------------------------                           -----
(Address  of  principal  executive  offices)                        (Zip  Code)

Registrant's  telephone  number,  including area code            (678) 339-9597

Securities registered pursuant to section 12(b) of the Act:  None.

Securities registered pursuant to section 12(g) of the Act:

                   5.85% Marine Receivable-Backed Certificates

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange  Act  of
1934 during the  preceding  12  months  (or  for such shorter period  that  the
registrant was required  to  file  such  reports),  and  (2)  has  been subject
to such filing requirements  for  the  past  90  days. (x)     yes     (  )  no

Indicate by  check mark if disclosure of delinquent filers pursuant to Item 405
of  Regulation S-K  (229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, in definitive proxy or
information statements  incorporated by reference in Part III of this Form 10-K
or  any  amendment  to  this  Form  10-K.  (x)

Indicate  by  check  mark whether  the  registrant  is an accelerated filer (as
defined  in  Rule  12b-2  of  the  Act).  Yes_  No  X
                                                   ---


State the aggregate market value of  the voting  and  non-voting  common equity
held by  non-affiliates computed by reference to the price at which the  common
equity was last sold, or the average bid and asked price of such common equity,
as of the  last business day of the registrant's most recently completed second
fiscal quarter.  None.

Documents  incorporated  by  reference:  None.

<PAGE>


                                     PART I
Item  1. Business.
         ---------

         Not  applicable.

Item  2. Properties.
         -----------

         Not  applicable.

Item  3. Legal  Proceedings.
         -------------------

         Not  applicable.

Item  4. Submission  of  Matters  to  a  Vote  of  Security  Holders.
         ------------------------------------------------------------

         Not  applicable.

                                     PART II

Item  5. Market for Registrant's Common Equity and Related Stockholder Matters.
         ----------------------------------------------------------------------

         The   Certificates   representing   investors'   interests   in  the
         NationsCredit  Grantor  Trust  1996-1 are  represented by one or more
         Certificates  registered  in the  name  of  Cede & Co.,  the  nominee
         of the Depository Trust Company. The number of direct DTC participants
         shown on DTC's  records as holding beneficial ownership  interests  in
         the  certificates  is  35  as  of  December  31, 2002.

          To the best knowledge of  the  registrant,  there  is  no established
          public trading  market  for  the  Certificates.

Item  6.  Selected  Financial  Data.
          --------------------------

          Not  applicable.

Item 7.   Management's Discussion and Analysis of Financial Condition and
          ---------------------------------------------------------------
          Results of  Operations.
          -----------------------

          Not  applicable.

Item  7A. Quantitative  and  Qualitative  Disclosure  About  Market  Risk.
          ----------------------------------------------------------------

          Not  applicable.

Item  8.  Financial  Statements  and  Supplementary  Data.
          ------------------------------------------------

          Not  applicable.

Item  9.  Changes  in  and  Disagreements  With  Accountants  on  Accounting
          ------------------------------------------------------------------
          and Financial  Disclosure.
          --------------------------

          Not  applicable.

<PAGE>
                                    PART III

Item  10. Directors  and  Executive  Officers  of  the  Registrant  and Related
          ---------------------------------------------------------------------
          Stockholder  Matters
          -------------

          Not  applicable.

Item  11. Executive  Compensation.
          ------------------------

          Not  applicable.

Item  12. Security  Ownership  of  Certain Beneficial Owners and Management and
          ---------------------------------------------------------------------
          Related  Stockholder Matters.
          -----------------------------

          The  Certificates   are  represented  by  one  or  more  Certificates
          registered   in  the  name   of  Cede  &  Co.,  the  nominee  of  the
          Depository   Trust   Company   ("DTC"), and  an  investor  holding an
          interest in the NationsCredit Grantor Trust 1996-1 is  not   entitled
          to  receive  a  certificate  representing  such  interest  except  in
          certain limited  circumstances.  Accordingly, Cede & Co. is  the sole
          holder of  record  of  the  Certificates, which it held  on behalf of
          brokers, dealers banks  and  other  direct  participants  in the  DTC
          system  at  December 31, 2002.  Such  direct  participants  may  hold
          Certificates for their  own  accounts or  for the  accounts  of their
          customers.  At  December 31, 2002,  the  following direct DTC
          participants   held   positions   in   the  Certificates representing
          interests in the  NationsCredit  Grantor  Trust  1996-1 equal  to  or
          exceeding  5%  of the  total principal  amount  of  the  Certificates
          outstanding  on  the  date:  None.


Item  13. Certain  Relationships  and  Related  Transactions.
          ---------------------------------------------------

          Not  applicable.
                                     PART IV

Item  14. Controls  and  Procedures.
          --------------------------

          Not  applicable.


Item  15. Exhibits,  Financial  Statement  Schedules,  and  Reports on Form 8K.
          ---------------------------------------------------------------------

          (a)
                         1.     Not  applicable.
                         2.     Not  applicable.
                         3.     Exhibits:
                                99.1  Annual  Statement  as  to  Compliance
                                99.2  Report  of  Independent  Accountants


<PAGE>
          (b)  Reports  on  Form  8-K

          NationsCredit  Grantor  Trust 1996-1 filed a Current Report  on  Form
          8-K   pursuant  to   Items  5  and  7  for  the   following   monthly
          distribution dates during 2002, including the Servicer's  Certificate
          for each due period provided to Deutsche Bank Trust Company Americas,
          formerly  Bankers  Trust  Company,  as Trustee.

                           Date of Reports on Form 8-K
                           ---------------------------
                                January 15, 2002
                                February 15, 2002
                                 March 15, 2002
                                 April 15, 2002
                                  May 15, 2002
                                  June 17, 2002
                                  July 15, 2002
                                 August 15, 2002
                               September 16, 2002
                                October 15, 2002
                                November 15, 2002
                                December 16, 2002

          (c)  See  item  15(a)(3)  above

          (d)  Not  applicable.





<PAGE>
                                   SIGNATURES

Pursuant  to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the registrant  has  duly  caused  this  report  to be
signed on  its  behalf  by  the  undersigned,  thereunto  duly  authorized.

NATIONSCREDIT  GRANTOR  TRUST  1996  -  1  (Registrant)

By:  Banc of  America Specialty Finance, Inc. formerly NationsCredit Commercial
Corporation  of America,  as  Servicer  of NationsCredit Grantor Trust 1996 - 1

                                       March  31,  2003

                                       By  /s/  CHRISTOPHER  SPOENEMAN
                                           ---------------------------
                                                Christopher  Spoeneman
                                                Senior  Vice  President


<PAGE>

NATIONSCREDIT  GRANTOR  TRUST  1996-1

Certification  Pursuant  to  Section  302  of  The  Sarbanes-Oxley  Act of 2002
-------------------------------------------------------------------------------

I,  Christopher  Spoeneman, a duly authorized representative of Banc of America
Specialty  Finance,  Inc.  certify  that:

1.    I have reviewed this annual report on Form 10-K, and all  reports on Form
      8-K containing  distribution  or  servicing reports  filed in respect  of
      periods   included  in   the  year  covered  by  this  annual  report  of
      NationsCredit Grantor  Trust  1996-1;

2.    Based on  my  knowledge, the  information in  these  reports,  taken as a
      whole, does not contain any untrue statement of  a material fact or  omit
      to state a material fact necessary to make the statements made, in light
      of  the   circumstances  under  which  such  statements  were  made,  not
      misleading as of the last  day of  the  period  covered  by  this  annual
      report;

3.    Based  on  my   knowledge,  the  distribution  or  servicing  information
      required to be  provided to the trustee by the servicer under the pooling
      and servicing,  or  similar, agreement,  for  inclusion  in these reports
      is included in these reports;

4.    I  am  responsible for reviewing the activities performed by the servicer
      under  the  pooling  and  servicing,  or  similar,  agreement  and  based
      upon my knowledge  and  the annual compliance review required under  that
      agreement, and except  as  disclosed in  the reports,  the  servicer  has
      fulfilled its obligations under  that  agreement;  and

5.    The  reports  disclose  all  significant  deficiencies  relating  to  the
      servicer's compliance with the minimum  servicing  standards  based  upon
      the  report  provided   by   an   independent  public  accountant,  after
      conducting a review in compliance  with  the Uniform  Single  Attestation
      Program  for  Mortgage Bankers or similar  procedure,  as  set  forth  in
      the  pooling  and servicing, or similar, agreement,  that  is included in
      these  reports.

March  31,  2003

By  /s/  Christopher  Spoeneman
-------------------------------
          Christopher  Spoeneman
          Senior  Vice  President
          Banc  of  America  Specialty  Finance,  Inc.


<PAGE>
                                  EXHIBIT INDEX


 Exhibit  Number              Description  of  Exhibit
 ---------------              ------------------------
      99.1                    Annual  Statement  as  to  Compliance
      99.2                    Report  of  Independent  Accountants


<PAGE>
                                                                   EXHIBIT 99.1
                                                                   ------------


                      BANC  OF  AMERICA  SPECIALTY FINANCE, INC.
                        ANNUAL STATEMENT AS TO COMPLIANCE

                       NationsCredit Grantor Trust 1996-1
                       ----------------------------------



The undersigned certifies that he is a Senior Vice President of Banc of America
Specialty Finance,  Inc.,  formerly  NationsCredit  Commerical  Corporation  of
America, a  North Carolina corporation (the "Servicer"), and that as such he is
duly authorized  to  execute  and  deliver  this  certificate  on behalf of the
Servicer pursuant to Section 13.10 of the Pooling and Servicing Agreement dated
as  of January 31, 1996 among NationsCredit Securitization Corporation, Banc of
America Specialty  Finance,  Inc.  formerly known as   NationsCredit Commercial
Corporation  of  America  and  Deutsche  Bank  Trust  Company Americas, formerly
Bankers Trust  Company  (the  "Agreement")  and  further certifies that ( i ) a
review  of  the activities of the Servicer during the period January 1, 2002 up
to and including  December 31, 2002 and of its performance under the  Agreement
has been  made and (ii) based on such review, the Servicer has fulfilled all of
its  obligations  under  the  Agreement  throughout the past  year  up  to  and
including  December  31,  2002.

IN  WITNESS  WHEREOF,  I  have affixed hereto my signature this the 31st day of
March,  2003.



           Banc  of  America  Specialty  Finance,  Inc.

           By:/s/  Christopher  Spoeneman
              ---------------------------
                   Christopher  Spoeneman
                   Senior  Vice  President


<PAGE>

                                                                   EXHIBIT 99.2
                                                                   ------------

                        REPORT OF INDEPENDENT ACCOUNTANTS


To  the  Board  of  Directors  and  Shareholders
of  Bank  of  America  Corporation


We  have  examined  management's  assertion  about Banc  of  America  Specialty
Finance,  Inc.'s  (the  "Company")  compliance with the servicing  requirements
outlined  in  sections  12.3,  13.8,  14.1,  14.2,  14.3,  14.6   and  14.7  of
the Pooling and Servicing  Agreement dated January 31, 1996  (the  "Agreement")
for  the NationsCredit  Grantor  Trust 1996-1 securitization as of and  for the
year ended December 31, 2002 included in the accompanying management  assertion
(see Exhibit I).  Management   is  responsible  for  the  Company's  compliance
with  those requirements.  Our  responsibility  is  to  express  an  opinion on
management's assertion  about  the  Company's  compliance  based  on  our
examination.

Our examination was made in accordance with  attestation standards  established
By the  American  Institute  of Certified  Public Accountants and, accordingly,
included  examining,  on  a test basis, evidence about the Company's compliance
with  those requirements  and performing such other procedures as we considered
necessary  in  the  circumstances.  We  believe  that our examination  provides
a  reasonable   basis   for  our  opinion.  Our  examination does not provide a
legal determination on the Company's compliance  with  specified  requirements.

In our  opinion,  management's  assertion  that  the  Company complied with the
aforementioned requirements  as  of and for the year ended December 31, 2002 is
fairly  stated, in  all  material  respects.


/s/  PRICEWATERHOUSE  COOPERS  LLP
----------------------------------


March  13,  2003



<PAGE>

                                                                      EXHIBIT I
                                                                      ---------


                  MANAGEMENT'S ASSERTION CONCERNING COMPLIANCE
                       WITH CERTAIN SERVICING REQUIREMENTS


March  13,  2003


As  of  and  for the  year  ended  December 31, 2002, Banc of America Specialty
Finance,  Inc. has  complied  in  all  material  respects  with  the  servicing
requirements outlined in sections  12.3, 13.8, 14.1, 14.2, 14.3, 14.6 and  14.7
of the Pooling  and  Servicing  Agreement  for the NationsCredit Grantor Trust
1996-1 securitization  dated  as of January 31, 1996, between  Banc  of America
Specialty  Finance,  Inc.,  formerly  NationsCredit  Commercial  Corporation of
America, as Servicer, NationsCredit  Securitization Corporation, as Seller, and
Deutsche Bank Trust  Company  Americas,  formerly  Bankers  Trust  Company,  as
Trustee  and Collateral  Agent.




/s/  ERIC  P.  TELLJOHANN
-------------------------
     Eric  P.  Telljohann
     Senior  Vice  President


/s/  CHRISTOPHER  SPOENEMAN
---------------------------
     Christopher  Spoeneman
     Senior  Vice  President


/s/  JOYCE  V.  MCLEOD
----------------------
     Joyce  V.  McLeod
     Vice  President