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                                                                   Exhibit 10.1F

[LOGO OF FINANCIAL SECURITY ASSURANCE]                        FINANCIAL GUARANTY
                                                                INSURANCE POLICY

Trust:   As described in Endorsement No. 1                  Policy No.:  51232-N
Certificates:  $1,580,419,592 EQCC Trust 2001-2    Date of Issuance:  12/21/2001
               Asset Backed Certificates, Series
               2001-2, Class A-6

          FINANCIAL SECURITY ASSURANCE INC. ("Financial Security"), for
consideration received, hereby UNCONDITIONALLY AND IRREVOCABLY GUARANTEES to the
Trustee for the benefit of each Holder, subject only to the terms of this Policy
(which includes each endorsement hereto), the full and complete payment of
Guaranteed Distributions with respect to the Certificates of the Trust referred
to above.

          For the further protection of each Holder, Financial Security
irrevocably and unconditionally guarantees payment of the amount of any
distribution of principal or interest with respect to the Certificates made
during the Term of this Policy to such Holder that is subsequently avoided in
whole or in part as a preference payment under applicable law.

          Payment of any amount required to be paid under this Policy will be
made following receipt by Financial Security of notice as described in
Endorsement No. 1 hereto.

          Financial Security shall be subrogated to the rights of each Holder to
receive distributions with respect to each Certificate held by such Holder to
the extent of any payment by Financial Security hereunder.

          Except to the extent expressly modified by Endorsement No. 1 hereto,
the following terms shall have the meanings specified for all purposes of this
Policy. "Holder" means the registered owner of any Certificate as indicated on
the registration books maintained by or on behalf of the Trustee for such
purpose or, if the Certificate is in bearer form, the holder of the Certificate.
"Trustee", "Guaranteed Distributions" and "Term of this Policy" shall have the
meanings set forth in Endorsement No. 1 hereto.

          This Policy sets forth in full the undertaking of Financial Security,
and shall not be modified, altered or affected by any other agreement or
instrument, including any modification or amendment thereto. Except to the
extent expressly modified by an endorsement hereto, the premiums paid in respect
of this Policy are nonrefundable for any reason whatsoever. This Policy may not
be canceled or revoked during the Term of this Policy. An acceleration payment
shall not be due under this Policy unless such acceleration is at the sole
option of Financial Security. THIS POLICY IS NOT COVERED BY THE
PROPERTY/CASUALTY INSURANCE SECURITY FUND SPECIFIED IN ARTICLE 76 OF THE NEW
YORK INSURANCE LAW.

          In witness whereof, FINANCIAL SECURITY ASSURANCE INC. has caused this
Policy to be executed on its behalf by its Authorized Officer.

                                               FINANCIAL SECURITY ASSURANCE INC.



                                              By   /s/ Bruce Stern
                                                --------------------------------
                                                       AUTHORIZED OFFICER


A subsidiary of Financial Security Assurance Holdings Ltd.
350 Park Avenue, New York, N.Y. 10022-6022                        (212) 826-0100

Form 101NY (5/89)

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                              ENDORSEMENT NO. 1 TO
                       FINANCIAL GUARANTY INSURANCE POLICY

FINANCIAL SECURITY                                               350 Park Avenue
ASSURANCE INC.                                          New York, New York 10022

TRUST:            Established pursuant to the Pooling and Servicing Agreement,
                  dated as of December 1, 2001, among EQCC Receivables
                  Corporation, as Depositor, EquiCredit Corporation of America,
                  as Transferor and Initial Servicer, Bank of America, N.A., as
                  the Advancing Party, Fairbanks Capital Corp., as Expected
                  Successor Servicer, and The Bank of New York, as Trustee

POLICY            NO.: 51232-N

CERTIFICATES:     $1,580,419,592 EQCC Trust 2001-2 Asset Backed Certificates,
                  Series 2001-2, Class A-6

DATE OF ISSUANCE: December 21, 2001

     1. Definitions. For all purposes of this Policy, the terms specified below
        -----------
shall have the meanings or constructions provided below. Capitalized terms used
herein and not otherwise defined herein shall have the meanings provided in the
Pooling and Servicing Agreement unless the context shall otherwise require.

     "Business Day" means any day other than (i) a Saturday or Sunday, or (ii) a
      ------------
day on which banking institutions in New York City or the Corporate Trust Office
of the Trustee are authorized or obligated by law, executive order or
governmental decree to be closed.

     "Guaranteed Distributions" has the meaning assigned to the term "Insured
      ------------------------
Payment" in the Pooling and Servicing Agreement with respect to the
Certificates.

     "Policy" means this Financial Guaranty Insurance Policy and includes each
      ------
endorsement thereto.

     "Pooling and Servicing Agreement" means the Pooling and Servicing Agreement
      -------------------------------
dated as of December 1, 2001 among EQCC Receivables Corporation, as Depositor,
EquiCredit Corporation of America, as Transferor and Initial Servicer, Bank of
America, N.A., as the Advancing Party, Fairbanks Capital Corp., as Expected
Successor Servicer, and The Bank of New York, as Trustee, as amended from time
to time with the consent of Financial Security.

     "Receipt" and "Received" mean actual delivery to Financial Security and to
      -------       --------
the Fiscal Agent (as defined below), if any, prior to 12:00 noon, New York City
time, on a Business Day; delivery either on a day that is not a Business Day, or
after 12:00 noon, New York City time, shall be deemed to be Received on the next
succeeding Business Day. If any notice or certificate

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given hereunder by the Trustee is not in proper form or is not properly
completed, executed or delivered, it shall be deemed not to have been Received,
and Financial Security or its Fiscal Agent shall promptly so advise the Trustee
and the Trustee may submit an amended notice.

     "Term Of This Policy" means the period from and including the Date of
      -------------------
Issuance to and including the date on which (i) the Certificate Balance of all
of the Class A-6 Certificates is zero, (ii) any period during which any payment
on the Class A-6 Certificates could have been avoided in whole or in part as a
preference payment under applicable bankruptcy, insolvency, receivership or
similar law has expired, and (iii) if any proceedings requisite to avoidance as
a preference payment have been commenced prior to the occurrence of (i) and
(ii), a final and nonappealable order in resolution of each such proceeding has
been entered.

     "Trustee" means The Bank of New York in its capacity as Trustee under the
      -------
Pooling and Servicing Agreement and any successor in such capacity.

     2. Notices and Conditions to Payment in Respect of Guaranteed
        ----------------------------------------------------------
Distributions. Following Receipt by Financial Security of a notice and
-------------
certificate from the Trustee in the form attached as Exhibit A to this
Endorsement, Financial Security will pay any amount payable hereunder in respect
of Guaranteed Distributions out of the funds of Financial Security on the later
to occur of (a) 12:00 noon, New York City time, on the second Business Day
following such Receipt; and (b) 12:00 noon, New York City time, on the
Distribution Date to which such claim relates. Payments due hereunder in respect
of Guaranteed Distributions will be disbursed by wire transfer of immediately
available funds to the Policy Payments Account established pursuant to the
Pooling and Servicing Agreement or, if no such Policy Payments Account has been
established, to the Trustee.

     Financial Security shall be entitled to pay any amount hereunder in respect
of Guaranteed Distributions, including any acceleration payment, whether or not
any notice and certificate shall have been Received by Financial Security as
provided above, provided, however, that by acceptance of this Policy the Trustee
agrees to provide to Financial Security, upon Financial Security's request to
the Trustee, a notice and certificate in respect of any such payments made by
Financial Security. Financial Security shall be entitled to pay principal
hereunder on an accelerated basis if Financial Security shall so elect in its
sole discretion, at any time or from time to time, in whole or in part, at an
earlier Distribution Date than provided in the definition of "Guaranteed
Distributions," if such principal would have been payable under the Pooling and
Servicing Agreement were funds sufficient to make such payment available to the
Trustee for such purpose. The Guaranteed Distributions insured hereunder shall
not include interest, in respect of principal paid hereunder on an accelerated
basis, accruing from after the date of such payment of principal. Financial
Security's obligations hereunder in respect of Guaranteed Distributions shall be
discharged to the extent funds are disbursed by Financial Security as provided
herein whether or not such funds are properly applied by the Trustee.

     3. Notices and Conditions to Payment in Respect of Guaranteed Distributions
        ------------------------------------------------------------------------
Avoided as Preference Payments. If any Guaranteed Distribution is avoided as a
------------------------------
preference payment under applicable bankruptcy, insolvency, receivership or
similar law, Financial Security will pay such amount out of the funds of
Financial Security on the later of (a) the date when due

                                       2

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to be paid pursuant to the Order referred to below or (b) the first to occur of
(i) the fourth Business Day following Receipt by Financial Security from the
Trustee of (A) a certified copy of the order of the court or other governmental
body which exercised jurisdiction to the effect that the Holder is required to
return principal or interest distributed with respect to the Class A-6
Certificates during the Term Of This Policy because such distributions were
avoidable as preference payments under applicable bankruptcy law (the "Order"),
(B) a certificate of the Holder that the Order has been entered and is not
subject to any stay and (C) an assignment duly executed and delivered by the
Holder, in such form as is reasonably required by Financial Security and
provided to the Holder by Financial Security, irrevocably assigning to Financial
Security all rights and claims of the Holder relating to or arising under the
Class A-6 Certificates against the debtor which made such preference payment or
otherwise with respect to such preference payment or (ii) the date of Receipt by
Financial Security from the Trustee of the items referred to in clauses (A), (B)
and (C) above if, at least four Business Days prior to such date of Receipt,
Financial Security shall have Received written notice from the Trustee that such
items were to be delivered on such date and such date was specified in such
notice. Such payment shall be disbursed to the receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in the Order and not to the
Trustee or any Holder directly (unless a Holder has previously paid such amount
to the receiver, conservator, debtor-in-possession or trustee in bankruptcy
named in the Order, in which case such payment shall be disbursed to the Trustee
for distribution to such Holder upon proof of such payment reasonably
satisfactory to Financial Security). In connection with the foregoing, Financial
Security shall have the rights provided pursuant to Section 6.05(c) of the
Pooling and Servicing Agreement.

     4. Governing Law. This Policy shall be governed by and construed in
        -------------
accordance with the laws of the State of New York, without giving effect to the
conflict of laws principles thereof.

     5. Fiscal Agent. At any time during the Term Of This Policy, Financial
        ------------
Security may appoint a fiscal agent (the "Fiscal Agent") for purposes of this
Policy by written notice to the Trustee at the notice address specified in the
Pooling and Servicing Agreement specifying the name and notice address of the
Fiscal Agent. From and after the date of receipt of such notice by the Trustee,
(i) copies of all notices and documents required to be delivered to Financial
Security pursuant to this Policy shall be simultaneously delivered to the Fiscal
Agent and to Financial Security and shall not be deemed Received until Received
by both and (ii) all payments required to be made by Financial Security under
this Policy may be made directly by Financial Security or by the Fiscal Agent on
behalf of Financial Security. The Fiscal Agent is the agent of Financial
Security only and the Fiscal Agent shall in no event be liable to any Holder for
any acts of the Fiscal Agent or any failure of Financial Security to deposit, or
cause to be deposited, sufficient funds to make payments due under this Policy.

     6. Waiver of Defenses. To the fullest extent permitted by applicable law,
        ------------------
Financial Security agrees not to assert, and hereby waives, for the benefit of
each Holder, all rights (whether by counterclaim, setoff or otherwise) and
defenses (including, without limitation, the defense of fraud), whether acquired
by subrogation, assignment or otherwise, to the extent that such rights and
defenses may be available to Financial Security to avoid payment of its
obligations under this Policy in accordance with the express provisions of this
Policy.

                                       3

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     7.  Notice. All notices to be given hereunder shall be in writing (except
         ------
as otherwise specifically provided herein) and shall be mailed by registered
mail or personally delivered or telecopied to Financial Security as follows:

                 Financial Security Assurance Inc.
                 350 Park Avenue
                 New York, N.Y. 10022
                 Attention: Senior Vice President - Transaction Oversight
                 Re: EQCC Trust 2001-2 Asset Backed Certificates, Series 2001-2
                 Policy No.  51232-N
                 Telecopy No.: (212) 339-3518
                 Confirmation: (212) 826-0100

Financial Security may specify a different address or addresses by writing,
mailed or delivered to the Trustee.

     8.  Priorities. In the event any term or provision on the face of this
         ----------
Policy is inconsistent with the provisions of this Endorsement, the provisions
of this Endorsement shall take precedence and shall be binding.

     9.  Exclusions From Insurance Guaranty Funds. This Policy is not covered by
          ---------------------------------------
the Property/Casualty Insurance Security Fund specified in Article 76 of the New
York Insurance Law. This Policy is not covered by the Florida Insurance Guaranty
Association created under Part II of Chapter 631 of the Florida Insurance Code.
In the event Financial Security were to become insolvent, any claims arising
under this Policy are excluded from coverage by the California Insurance
Guaranty Association, established pursuant to Article 14.2 of Chapter 1 of Part
2 of Division 1 of the California Insurance Code.

     10. Surrender of Policy. The Trustee shall surrender this Policy to
         -------------------
Financial Security for cancellation upon expiration of the Term Of This Policy.

                                       4

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     IN WITNESS WHEREOF, FINANCIAL SECURITY ASSURANCE INC. has caused this
Endorsement No. 1 to be executed by its Authorized Officer.


                        FINANCIAL SECURITY ASSURANCE INC.



                        By /s/ Bruce Stern
                           -----------------
                               Authorized Officer

                                       5

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                                                      Exhibit A To Endorsement I

                         NOTICE OF CLAIM AND CERTIFICATE

Financial Security Assurance Inc.
350 Park Avenue
New York, NY 10022

    Re:  EQCC Trust 2001-2 Asset Backed Certificates, Series 2001-2, Class A-6
         ---------------------------------------------------------------------

     The undersigned, a duly authorized officer of The Bank of New York (the
"Trustee"), hereby certifies to Financial Security Assurance Inc. ("Financial
Security"), with reference to Financial Guaranty Insurance Policy No. 51232-N
dated December 21, 2001 (the "Policy") issued by Financial Security in respect
of EQCC Asset Backed Certificates, Series 2001-2, Class A-6 (the
"Certificates"), that:

               (i)   The Trustee is the Trustee for the Holders under the
          Pooling and Servicing Agreement.

               (ii)  The sum of all amounts on deposit (or scheduled to be on
          deposit) in the Collection Account and available for distribution to
          the Holders in respect of Guaranteed Distributions pursuant to the
          Pooling and Servicing Agreement will be $___________ (the "Shortfall")
          less than the Guaranteed Distributions with respect to the
          Distribution Date.

               (iii) The Trustee is making a claim under the Policy for the
          Shortfall to be applied to distributions of principal or interest or
          both with respect to the Certificates.

               (iv)  The Trustee agrees that, following receipt of funds from
          Financial Security, it shall (a) hold such amounts in trust and apply
          the same directly to the payment of Guaranteed Distributions on the
          Certificates when due; (b) not apply such funds for any other purpose;
          (c) not commingle such funds with other funds held by the Trustee and
          (d) maintain an accurate record of such payments with respect to each
          Certificate and the corresponding claim on the Policy and proceeds
          thereof and, if the Certificate is required to be surrendered or
          presented for such payment, shall stamp on each such Certificate the
          legend "$[insert applicable amount] paid by Financial Security and the
          balance hereof has been cancelled and reissued" and then shall deliver
          such Certificate to Financial Security.

                                       A-1

<PAGE>

                           (v)   The Trustee, on behalf of the Holders, hereby
                  assigns to Financial Security the rights of the Holders with
                  respect to the Certificates to the extent of any payments
                  under the Policy, including, without limitation, any amounts
                  due to the Holders in respect of securities law violations
                  arising from the offer and sale of the Certificates. The
                  foregoing assignment is in addition to, and not in limitation
                  of, rights of subrogation otherwise available to Financial
                  Security in respect of such payments. The Trustee shall take
                  such action and deliver such instruments as may be reasonably
                  requested or required by Financial Security to effectuate the
                  purpose or provisions of this clause (v).

                           (vi)  The Trustee, on its behalf and on behalf of the
                  Holders, hereby appoints Financial Security as agent and
                  attorney-in-fact for the Trustee and each such Holder in any
                  legal proceeding with respect to the Certificates. The Trustee
                  hereby agrees that, so long as a Financial Security Default
                  (as defined in the Pooling and Servicing Agreement) shall not
                  exist, Financial Security may at any time during the
                  continuation of any proceeding by or against the Transferor or
                  the Depositor under the United States Bankruptcy Code or any
                  other applicable bankruptcy, insolvency, receivership,
                  rehabilitation or similar law (an "Insolvency Proceeding")
                  direct all matters relating to such Insolvency Proceeding,
                  including without limitation, (A) all matters relating to any
                  claim in connection with an Insolvency Proceeding seeking the
                  avoidance as a preferential transfer of any payment made with
                  respect to the Certificates (a "Preference Claim"), (B) the
                  direction of any appeal of any order relating to any
                  Preference Claim, at the expense of Financial Security but
                  subject to reimbursement as provided in the Insurance
                  Agreement, and (C) the posting of any surety, supersedeas or
                  performance bond pending any such appeal. In addition, the
                  Trustee hereby agrees that Financial Security shall be
                  subrogated to, and the Trustee on its behalf and on behalf of
                  each Holder, hereby delegates and assigns, to the fullest
                  extent permitted by law, the rights of the Trustee and each
                  Holder in the conduct of any Insolvency Proceeding, including,
                  without limitation, all rights of any party to an adversary
                  proceeding or action with respect to any court order issued in
                  connection with any such Insolvency Proceeding.

                           (vii) Payment should be made by wire transfer
                  directed to [SPECIFY INSURANCE ACCOUNT].

          Unless the context otherwise requires, capitalized terms used in this
Notice of Claim and Certificate and not defined herein shall have the meanings
provided in the Policy.

                                       A-2

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     IN WITNESS WHEREOF, the Trustee has executed and delivered this Notice of
Claim and Certificate as of the ______ day of _________ ___.


                                           The Bank of New York, as Trustee,

                                           By _________________________________
                                           Title_______________________________




--------------------------------------------------------------------------------

For Financial Security or Fiscal Agent Use Only

Wire transfer sent on      _______________ by ______________________________

Confirmation Number __________________

                                       A-3