Household Finance Corporation
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: 000000XX0
Series Number of Class A-2 Certificates: N/A
Original Sale Balance: $819,278,000
Servicer Certificate (Page 1 of 3)
Distribution Date: 02/20/97
Investor Certificateholder Floating Allocation P 97.41%
Investor Certificateholder Fixed Allocation Perc 97.50%
Aggregate Amount of Collections 22,196,064.24
Aggregate Amount of Interest Collections 7,599,532.80
Aggregate Amount of Principal Collections 14,596,531.44
Class A Interest Collections 7,402,598.51
Class A Principal Collections 13,333,474.61
Seller Interest Collections 196,934.29
Seller Principal Collections 1,263,056.83
Weighted Average Loan Rate 13.55%
Net Loan Rate 12.55%
Weighted Average Maximum Loan Rate 18.47%
Class A-1 Certificate Rate 5.6453%
Maximum Investor Certificate Rate 12.5500%
Class A-1 Certificate Interest Distributed 3,689,040.60
Class A-1 Investor Certificate Interest Shortfal 0.00
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Unpaid Class A-1 Carryover Interest Amount 0.00
Maximum Principal Dist. Amount (MPDA) 14,231,618.15
Alternative Principal Dist. Xxxxxx (APDA) 13,333,474.61
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 13,333,474.61
Principal allocable to Class A-1 13,385,732.63
SPDA deposited to Funding Account 13,333,474.61
Subsequent Funding Mortgage Loans Purchased in P 100,781,997.58
Cumulative Subsequent Funding Mortgage Loans Pur 100,781,997.58
Accelerated Principal Distribution Amount 0.00
APDA allocable to Class A-1 0.00
Reimbursement to Credit Enhancer 0.00
Spread Trigger hit? No
Reduction in Certificate Principal Balance
due to Current Class A-1 Liquidation Loss Am 679,705.72
Cumulative Investor Liquidation Loss Amount 679,705.72
Total Principal allocable to A-1 14,065,438.35
Beginning Class A-1 Certificate Principal Balanc 784,163,973.93
Ending Class A-1 Certificate Principal Balance 770,098,535.58
Pool Factor (PF) 0.9399722
Servicer Certificate (Page 2 of 3)
Distribution Date: 02/20/97
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 572,942.62
Beg. Accrued and Unpaid Inv. Servicing Fees 0.00
Accrued and Unpaid Inv. Servicing Fees Recv'd 0.00
End. Accrued and Unpaid Inv. Servicing Fees 0.00
Number of Mortgage Loans Retransferred pursuant 0
Cumulative Number of Mortgage Loans Retransferre 0
Mortgage Loans Retransferred pursuant to 2.07 ($ 0.00
Cumulative Mortgage Loans Retransferred pursuant 0.00
Aggregate Investor Liquidation Loss Amount 679,705.72
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 708,504,197.96
Ending Pool Balance 795,254,226.60
Beginning Invested Amount 788,365,400.93
Ending Invested Amount 774,299,962.58
Beginning Seller Principal Balance 20,973,052.63
Ending Seller Principal Balance 20,954,264.02
Additional Balances 1,263,056.83
Beginning Funding Account Balance 100,834,255.60
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any pur 13.59%
Ending Funding Account Balance % (after purchase 0.00%
Principal Balance of Subsequent Funding Loans Pu $100,781,997.58
Principal Collections to purchase Additional Bal $52,258.02
Excess Funding Amount
Beginning Spread Account Balance 2,100,714.00
Ending Spread Account Balance 2,100,714.00
Beginning Seller Interest 2.96%
Ending Seller's Interest 2.63%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts
Trust Balance 1,225
60 - 89 days (Del Stat 2) 45,523,589.76
No. of Accounts 267
Trust Balance 9,200,179.42
90+ (Del Stat 3+)
No. of Accounts 370
Trust Balance 13,043,089.73
270+ (Del Stat 9+)
No. of Accounts 48
Trust Balance 1,784,896.95
REO
No. of Accounts 6
Trust Balance 343,081.27
Rapid Amortization Event ? No
Failure to make payment within 5 Business DayNo
Failure to perform covenant relating to TrustNo
Failure to perform other covenants as describNo
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relatiNo
Subject to Investment Company Act of 1940 RegNo
Servicing Termination ? No
Aggregate of Credit Enhancement Draw Amounts No
Servicer Certificate (Page 3 of 3)
Distribution Date: 02/20/97
Event of Default ? No
Failure by Servicer to make payment within 5 No
Failure by Servicer to perform covenant relatNo
Failure by Servicer to perform other covenantNo
Bankruptcy, Insolvency or Receivership relatiNo
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid N/A
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 1,459,991.12
Master Servicer Credit Facility Amount 0.00
Guaranteed Principal Distribution Amount 0.00
Credit Enhancement Draw Amount 0.00
Spread Account Draw Amount 0.00
Capitalized Interest Account Draw 0.00
Amount re-imbursed to Credit Enhancer (5.01(a)(v 0.00
Amount paid to Trustee 0.00
Cumulative Draw under Policy 0.00
Net Yield 3.75%
Total Available Funds
Aggregate Amount of Collections 22,196,064.24
Deposit for principal not used to purchase 52,258.02
Interest Earnings on the Pre-Funding Accoun 0.00
Deposit from Capitalized Interest Account 0.00
Total 22,248,322.26
Application of Available Funds
Servicing Fee 572,942.62
Prinicpal and Interest to Class A-1 17,754,478.95
Seller's portion of Principal and Interest 1,459,991.12
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 2,460,909.57
Total 22,248,322.26
OFFICERS'S CERTIFICATE
All computations reflected in this Servicer Certificate were
made in conformity with the Pooling and Servicing Agreement.
The attached Servicing Certificate is true and correct in all
material respects.
A Servicing Officer
Statement to Certificateholders (Page 1 of 2)
Distribution Date: 02/20/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Pe 97.4086%
Class A Certificateholder Fixed Allocation Perce 97.5000%
Beginning Class A-1 Certificate Balance 784,163,973.93
Class A-1 Certificate Rate 5.645310%
Class A-1 Certificate Interest Distributed 4.502795
Class A-1 Certificate Interest Shortfall Distrib 0.000000
Remaining Unpaid Class A-1 Certificate Interest 0.000000
Rapid Amortization Event ? No
Class A-1 Certificate Principal Distributed 17.168090
Maximum Principal Distribution Amount 17.370927
Scheduled Principal Distribution Amount (SPD 16.274665
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Di 0.829640
Total Amount Distributed to Certificateholders 20.841245
Principal Collections deposited into Funding Acc 13,333,474.61
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 770,098,535.58
Class A-1 Factor 0.9399722
Pool Factor (PF) 0.9399722
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Los $0
Accrued & Unpaid Interest on Unreimbursed Liquid $0
Class A Servicing Fee 572,942.62
Beginning Invested Amount 788,365,400.93
Ending Invested Amount 774,299,962.58
Beginning Pool Balance 708,504,197.96
Ending Pool Balance 795,254,226.60
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 02/20/97
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts 1,225
Trust Balance 45,523,589.76
60 - 89 days (Del Stat 2)
No. of Accounts 267
Trust Balance 9,200,179.42
90+ (Del Stat 3+)
No. of Accounts 370
Trust Balance 13,043,089.73
REO
No. of Accounts 6
Trust Balance 343,081.27
Aggregate Liquidation Loss Amount for Liquidated 598,607.20
Class A-1 Certificate Rate for Next DistributionTo be updated
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 3,249.00
Trust Balance 100,781,997.58
Cumulative No. of Accounts 3,249.00
Cumulative Trust Balance 100,781,997.58
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursu 0
Cumulative Number of Mortgage Loans Retransf 0
Mortgage Loans Retransferred pursuant to 2.0 0.00