Household Revolving Home Equity Loan Revolving Home Equity Loan Asset Backed Certificates - Series 1996-1 P & S Agreement Date: May 1, 1996 Original Settlement Date: May 23, 1996 Series Number of Class A-1 Certificates: 441919AJ6 Series Number of...
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Household Finance Corporation |
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Household Revolving Home Equity Loan |
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Revolving Home Equity Loan Asset Backed Certificates - Series 1996-1 |
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P & S Agreement Date: May 1, 1996 |
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Original Settlement Date: May 23, 1996 |
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Series Number of Class A-1 Certificates: 000000XX0 |
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Series Number of Class A-2 Certificates: N/A |
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Original Sale Balance: $819,278,000 |
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Distribution Date: |
20-Nov-01 |
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Determination Date: |
19-Nov-01 |
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Month: |
66 |
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Certificate Information |
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Servicer Certificate (Page 1 of 4) |
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Distribution Date: |
11/20/01 |
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Investor Certificateholder Floating Allocation Percentage |
86.33% |
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Investor Certificateholder Fixed Allocation Percentage |
97.37% |
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Aggregate Amount of Collections |
5,348,046.87 |
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Aggregate Amount of Interest Collections |
1,511,250.28 |
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Aggregate Amount of Principal Collections |
3,836,796.59 |
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Class A Interest Collections |
1,304,587.22 |
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Class A Principal Collections |
3,724,327.99 |
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Seller Interest Collections |
206,663.06 |
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Seller Principal Collections |
112,468.60 |
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Weighted Average Loan Rate |
11.85% |
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Net Loan Rate |
10.85% |
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Weighted Average Maximum Loan Rate |
18.52% |
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Class A-1 Certificate Rate |
2.66% |
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Maximum Investor Certificate Rate |
10.85% |
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Class A-1 Certificate Interest Distributed |
253,126.75 |
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Class A-1 Investor Certificate Interest Shortfall before Draw |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Received |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Remaining |
0.00 |
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Unpaid Class A-1 Carryover Interest Amount |
0.00 |
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Class A-2 Certificate Rate |
0 |
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Maximum Investor Certificate Rate |
0.108507 |
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Class A-2 Certificate Interest Distributed |
0 |
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Class A-2 Investor Certificate Interest Shortfall before Policy Draw |
0 |
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Unpaid Class A-2 Certificate Interest Shortfall Received |
0 |
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Unpaid Class A-2 Certificate Interest Shortfall Remaining |
0 |
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Unpaid Class A-2 Carryover Interest Amount |
0 |
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Maximum Principal Dist. Amount (MPDA) |
3,735,888.84 |
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Alternative Principal Dist. Amount (APDA) |
3,724,327.99 |
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Rapid Amortization Period? (Y=1, N=0) |
0.00 |
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Scheduled Principal Distribution Amount (SPDA) |
3,724,327.99 |
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Principal allocable to Class A-1 |
3,724,327.99 |
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Principal allocable to Class A-2 |
0 |
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SPDA deposited to Funding Account |
0.00 |
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Subsequent Funding Mortgage Loans Purchased in Period |
0 |
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Cumulative Subsequent Funding Mortgage Loans Purchased |
100,781,997.58 |
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Accelerated Principal Distribution Amount |
0.00 |
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APDA allocable to Class A-1 |
0.00 |
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APDA allocable to Class A-2 |
0 |
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Reimbursement to Credit Enhancer |
0.00 |
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Net Yield Trigger Calculation (Insurance Agreement) Monthly |
8.39% |
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Net Yield Trigger Calculation (Insurance Agreement) 3 month avg |
7.33% |
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Spread Trigger hit? |
No |
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Reduction in Certificate Principal Balance |
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due to Current Class A-1 Liquidation Loss Amount |
94,785.91 |
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Reduction in Certificate Principal Balance |
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due to Current Class A-2 Liquidation Loss Amount |
0 |
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Cumulative Investor Liquidation Loss Amount |
94,785.91 |
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Servicer Certificate (Page 2 of 4) |
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Distribution Date: |
11/20/01 |
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Total Principal allocable to A-1 |
3,819,113.90 |
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Total Principal allocable to A-2 |
0 |
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Beginning Class A-1 Certificate Principal Balance |
118,019,270.17 |
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Beginning Class A-2 Certificate Principal Balance |
0 |
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Ending Class A-1 Certificate Principal Balance |
114,200,156.27 |
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Ending Class A-2 Certificate Principal Balance |
0 |
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Class A-1 Factor |
0.139391216 |
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Class A-2 Factor |
0 |
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Pool Factor (PF) |
0.139391216 |
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Retransfer Deposit Amount (non 2.07 transfers) |
0.00 |
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Servicing Fees Distributed |
101,850.58 |
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Beg. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Accrued and Unpaid Inv. Servicing Fees Recv'd |
0.00 |
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End. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Current Investor Net Realized Loss |
94,785.91 |
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Investor Loss Reduction Amount |
0.00 |
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Beginning Pool Balance |
141,581,995.68 |
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Ending Pool Balance |
137,747,852.06 |
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Beginning Invested Amount |
122,220,697.17 |
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Ending Invested Amount |
118,401,583.27 |
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Beginning Seller Principal Balance |
19,361,298.51 |
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Ending Seller Principal Balance |
19,346,268.79 |
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Additional Balances |
112,468.60 |
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Beginning Funding Account Balance |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Funding Account Balance % (before any purchase of Subsequent Loans or release to Certs.) |
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Ending Funding Account Balance % (after purchase of Subsequent Loans or release to Certs.) |
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Principal Balance of Subsequent Funding Loans Purchased in Period |
$0.00 |
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Principal Collections to purchase Additional Balances and/or paid to Cert. |
$0.00 |
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Excess Funding Amount |
$0.00 |
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Beginning Pre-Funding Account Balance |
0 |
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Ending Pre-Funding Account Balance |
0 |
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Pre-Funding Earnings |
0 |
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Beginning Capitalized Interest Account |
0 |
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Capital Interest Requirement (Transferred to Collection Account) |
0 |
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Ending Capitalized Interest Account |
0 |
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Beginning Spread Account Balance |
2,100,714.00 |
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Ending Spread Account Balance |
2,100,714.00 |
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Beginning Seller Interest |
13.68% |
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Ending Seller's Interest |
14.04% |
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Delinquency & REO Status |
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30 - 59 days |
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No. of Accounts |
336 |
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Trust Balance |
11,094,817.54 |
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Servicer Certificate (Page 3 of 4) |
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Distribution Date: |
11/20/01 |
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60 - 89 days |
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No. of Accounts |
82 |
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Trust Balance |
3,028,818.23 |
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90+ days |
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No. of Accounts |
162 |
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Trust Balance |
4,459,239.55 |
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270+ days |
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No. of Accounts |
83 |
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Trust Balance |
1,738,031.21 |
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REO |
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No. of Accounts |
17 |
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Trust Balance |
876,860.25 |
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Rapid Amortization Event ? |
No |
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Failure to make payment within 5 Business Days of Required Date ? |
No |
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Failure to perform covenant relating to Trust's Security Interest ? |
No |
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Failure to perform other covenants as described in the Agreement ? |
No |
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Breach of Representation or Warranty ? |
No |
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Bankruptcy, Insolvency or Receivership relating to Seller ? |
No |
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Subject to Investment Company Act of 1940 Regulation ? |
No |
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Servicing Termination ? |
No |
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Aggregate of Credit Enhancement Draw Amounts exceed 1% of the Cut-off Balance and Pre-Funded Amount |
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Event of Default ? |
No |
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Failure by Servicer to make payment within 5 Bus. Days of Required Date ? |
No |
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Failure by Servicer to perform covenant relating to Trust's Security Interest ? |
No |
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Failure by Servicer to perform other covenants as described in the Agreement? |
No |
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Bankruptcy, Insolvency or Receivership relating to Master Servicer ? |
No |
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Trigger Event ? |
No |
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Policy Fee Distributed to Credit Enhancer (Paid directly from HFC) |
N/A |
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Premium Distributed to Credit Enhancer |
0.00 |
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Amount Distributed to Seller |
319,131.66 |
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Master Servicer Credit Facility Amount |
0.00 |
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Guaranteed Principal Distribution Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Spread Account Draw Amount |
0.00 |
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Capitalized Interest Account Draw |
0 |
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Amount re-imbursed to Credit Enhancer (5.01(a)(vi)) |
0 |
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Amount paid to Trustee |
0 |
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Cumulative Draw under Policy |
0 |
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Net Yield |
8.39% |
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Total Available Funds |
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Aggregate Amount of Collections |
5,348,046.87 |
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Deposit for principal not used to purchase subsequent loans |
0 |
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Interest Earnings on the Pre-Funding Account |
0 |
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Deposit from Capitalized Interest Account |
0 |
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Total |
5,348,046.87 |
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Servicer Certificate (Page 4 of 4) |
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Distribution Date: |
11/20/01 |
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Application of Available Funds |
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Servicing Fee |
101,850.58 |
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Principal and Interest to Class A-1 |
4,072,240.65 |
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Principal and Interest to Class A-2 |
0 |
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Seller's portion of Principal and Interest |
319,131.66 |
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Funds deposited into Funding Account (Net) |
0.00 |
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Funds deposited into Spread Account |
0.00 |
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Excess funds released to Seller |
854,823.98 |
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Total |
5,348,046.87 |
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OFFICERS'S CERTIFICATE |
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All computations reflected in this Servicer Certificate were |
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made in conformity with the Pooling and Servicing Agreement. |
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The attached Servicing Certificate is true and correct in all |
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material respects. |
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A Servicing Officer |
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Statement to Certificateholders (Page 1 of 2) |
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Distribution Date: |
11/20/01 |
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000) |
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Class A Certificateholder Floating Allocation Percentage |
86.33% |
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Class A Certificateholder Fixed Allocation Percentage |
97.37% |
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Beginning Class A-1 Certificate Balance |
118,019,270.17 |
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Beginning Class A-2 Certificate Balance |
0 |
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Class A-1 Certificate Rate |
2.66% |
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Class A-2 Certificate Rate |
0 |
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Class A-1 Certificate Interest Distributed |
0.308963197 |
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Class A-2 Certificate Interest Distributed |
0 |
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Class A-1 Certificate Interest Shortfall Distributed |
0 |
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Class A-2 Certificate Interest Shortfall Distributed |
0 |
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Remaining Unpaid Class A-1 Certificate Interest Shortfall |
0 |
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Remaining Unpaid Class A-2 Certificate Interest Shortfall |
0 |
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Rapid Amortization Event ? |
No |
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Class A-1 Certificate Principal Distributed |
4.661560423 |
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Class A-2 Certificate Principal Distributed |
0 |
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Maximum Principal Distribution Amount |
4.559977004 |
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Scheduled Principal Distribution Amount (SPDA) |
4.545865982 |
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Accelerated Principal Distribution Amount |
0 |
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Aggregate Investor Liquidation Loss Amount Distributed |
0.115694441 |
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Total Amount Distributed to Certificateholders |
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4.97052362 |
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Principal Collections deposited into Funding Account |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Class A-1 Certificate Balance |
114,200,156.27 |
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Ending Class A-2 Certificate Balance |
0 |
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Class A-1 Factor |
0.139391216 |
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Class A-2 Factor |
0 |
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Pool Factor (PF) |
0.139391216 |
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Unreimbursed Liquidation Loss Amount |
0 |
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Accrued Interest on Unreimbursed Liquidation Loss Amount |
0 |
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Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount |
0 |
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Class A Servicing Fee |
101,850.58 |
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Beginning Invested Amount |
122,220,697.17 |
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Ending Invested Amount |
118,401,583.27 |
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Beginning Pool Balance |
141,581,995.68 |
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Ending Pool Balance |
137,747,852.06 |
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Spread Account Draw Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Statement to Certificateholders (Page 2 of 2) |
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Distribution Date: |
11/20/01 |
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DELINQUENCY & REO STATUS |
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30 - 59 days |
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No. of Accounts |
336 |
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Trust Balance |
11,094,817.54 |
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60 - 89 days |
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No. of Accounts |
82 |
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Trust Balance |
3,028,818.23 |
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90+ days |
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No. of Accounts |
162 |
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Trust Balance |
4,459,239.55 |
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REO |
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No. of Accounts |
17 |
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Trust Balance |
876,860.25 |
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Current Net Realized Loss |
109,801.19 |
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Class A-1 Certificate Rate for Next Distribution Date |
To be updated |
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Class A-2 Certificate Rate for Next Distribution Date |
To be updated |
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Amount of any Draws on the Policy |
0.00 |
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Subsequent Mortgage Loans |
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No. of Accounts |
0.00 |
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Trust Balance |
0.00 |
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Cumulative No. of Accounts |
3249 |
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Cumulative Trust Balance |
100,781,997.58 |
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Retransferred Mortgage Loans pursuant to 2.07 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Pre-Funded Amount (Ending) |
0 |
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Subsequent Pre-Funding Mortgage Loans |
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No. of Accounts |
0 |
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Trust Balance |
0 |
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Capitalized Interest Account (Ending) |
0 |
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Earnings on the Pre-Funding Account |
0 |
