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, 2001

                                    33-80837
                              (Commission File No.)


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


Delaware                                                  75-2655744
-------- ----------------------------------------------------------------------
(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) 339-9343

Securities  registered  pursuant  to  section 12(g) of the Act:
                                     5.85% Marine Receivable-Backed Certificates
                                                  (Title  of  Class)




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  pas  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)


                                     Page 1

<PAGE>

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

          The  NationsCredit  Grantor  Trust  1996-1  (the "Trust")  was formed
          pursuant  to  a  Pooling and  Servicing  Agreement  (the "Pooling  and
          Servicing  Agreement")  dated  as  of  January  31,  1996  among
          NationsCredit  Securitization  Corporation  (the "Seller"),  Banc  of
          America  Specialty  Finance,  Inc.  (formerly  known  as NationsCredit
          Commercial  Corporation  of America), as Servicer (the "Servicer") and
          Bankers  Trust  Company,  as  trustee  (the  "Trustee").  The  Trust's
          only business  is  to act as a passive trust to permit investment in a
          pool of retail installment  sales  contracts.

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

          The  assets  of  the  Trust  include  a  pool of marine retail
          Installment  sales  contracts  (the  "Receivables"),  the  security
          Interests  in  the  collateral  securing the  Receivables  and certain
          other  property  more  specifically  set  forth  in  the  Pooling  and
          Servicing  Agreement.

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

          There  are no  pending  legal proceedings with  respect to the Trustee
          involving  the Trust,  Bankers Trust  Company,  as Trustee, or Banc of
          America  Specialty  Finance, Inc.,  as  Servicer.

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

          None.

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

          (a)     Market  Information.  There  is no established public trading
                  market for  the  Certificates.
          (b)     Holders.  Since  each  of the Certificates was issued in book
                  entry form  only,  there  is  only  one  holder  of record of
                  the Certificates.  See  Item 12 below.
          (c)     Dividends.  Not  applicable.


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

          None.

                                    PART III
Item  12.  Security  Ownership  of  Certain  Beneficial  Owners  and Management.
           ---------------------------------------------------------------------

           The  Certificates  are represented by one or more certificates
           registered in the name of Cede &  Co., the nominee of  The Depository
           Trust Company ("DTC"). An investor  holding an interest in  the Trust
           is not entitled to receive a certificate  representing  such interest
           except  in  limited  circumstances.  Accordingly,  Cede & Co.  is the
           sole  holder of record of the Certificates, which it  holds on behalf
           of  brokers, dealers, banks and other participants in the DTC system.
           Such participants may hold certificates for their own accounts or for
           the accounts  of  their  customers.  The  address  of  Cede & Co.  is
                                       Cede  &  Co.
                                       c/o  The  Depository  Trust  Company
                                       Attention:  Proxy  Department
                                       Seven  Hanover  Square
                                       New  York,  New  York  10004

                                     Page 2

<PAGE>

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

None.

                                     PART IV
Item  14.  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

           (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 2001, including the Servicer's Certificate
           for each due period provided to Bankers Trust  Company,  as  Trustee

                           Date of Reports on Form 8-K
                           ---------------------------
                                January 16, 2001
                                February 15, 2001
                                 March 15, 2001
                                 April 16, 2001
                                  May 15, 2001
                                  June 15, 2001
                                  July 16, 2001
                                 August 15, 2001
                               September 17, 2001
                                October 15, 2001
                                November 15, 2001
                                December 17, 2001

           (c)  The exhibits filed as a part of this report are listed in the
                Index to  Exhibits  on  Page  5

           (d)  Not  applicable.


                                   Page 3

<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



                                         By  /s/     CHRISTOPHER  SPOENEMAN
                                             ------------------------------
                                         Name:       Christopher  Spoeneman
                                         Title:      Senior Vice  President




                                         Date:     March  27,  2002
                                                   ----------------


                                     Page 4

<PAGE>

                                  EXHIBIT INDEX


     Exhibit  Number                    Description  of  Exhibit
     ---------------                    ------------------------

          99.1                    Annual  Statement  as  to  Compliance
          99.2                    Report  of  Independent  Accountants



                                     Page 5

<PAGE>
                                                                    Exhibit 99.1




                    BANC  OF  AMERICA  SPECIALTY FINANCE, INC.
                           ANNUAL OFFICER CERTIFICATE

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



The  undersigned certifies that he is a Senior Vice President of Banc of America
Specialty  Finance,  Inc.  formerly  NationsCredit Distribution Finance, Inc., a
Georgia  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, NationsCredit Commercial
Corporation  and  Bankers  Trust Company (the 'Agreement') and further certifies
that  ( i ) a review of the activities of the Servicer during the period January
1,  2001  up to and including December 31, 2001 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,  2001.

IN  WITNESS  WHEREOF,  I  have affixed hereto my signature this the _27th day of
                                                                     ----
March,  2002.

     Banc  of  America  Specialty  Finance,  Inc.



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


                                   Page 1 of 1

<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 Bank of America Corporation'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, 2001 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 attestion  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  during  the year ended December 31, 2001 is fairly
stated,  in  all  material  respects.




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


March  1,  2002



                                  Page 1 of  2

<PAGE>

                                    EXHIBIT I


                  MANAGEMENT'S ASSERTION CONCERNING COMPLIANCE
                       WITH CERTAIN SERVICING REQUIREMENTS




March  1,  2002


As  of and for the year ended December 31, 2001, Bank of America Corporation 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 Bank of America Corporation, formerly
NationsCredit  Commercial  Corporation  of  America,  as Servicer, NationsCredit
Securitization Corporation, as Seller, and Bankers Trust Company, as Trustee and
Collateral  Agent.




/s/  STEPHEN  F.  SMITH
---------------------------------
Stephen  F.  Smith
Senior  Vice  President
Bank  of  America  Corporation



/s/  CHRISTOPHER  SPOENEMAN
---------------------------------
Christopher  Spoeneman
Senior  Vice  President
Bank  of  America  Corporation



/s/  RHONDA  W.  NANTZ
---------------------------------
Rhonda  W.  Nantz
Vice  President
Bank  of  America  Corporation




                                  Page 2 of  2