1
Household Finance Corporation
Household Revolving Home Equity Loan Trust 1996-2
Revolving Home Equity Loan Asset Backed
Certificates - Series 1996-2
P & S Agreement Date: November 1, 1996
Original Settlement Date: November 26, 1996
Series Number of Class A-1 Certificates: 000000XX0
Original Sale Balance: $776,373,000
Servicer Certificate (Page 1 of 3)
Distribution Date: 10/20/2000
Investor Certificateholder Floating Allocation 91.33%
Percentage
Investor Certificateholder Fixed Allocation 97.32%
Percentage
Aggregate Amount of Collections 8,424,859.49
Aggregate Amount of Interest Collections 2,452,594.25
Aggregate Amount of Principal Collections 5,972,265.24
Class A Interest Collections 2,240,025.21
Class A Principal Collections 5,789,803.11
Seller Interest Collections 212,569.04
Seller Principal Collections 182,462.13
Weighted Average Loan Rate 14.11%
Net Loan Rate 13.11%
Weighted Average Maximum Loan Rate 18.87%
Class A-1 Certificate Rate 6.7638%
Maximum Investor Certificate Rate 13.1123%
Class A-1 Certificate Interest Distributed 1,100,203.60
Class A-1 Investor Certificate Interest Shortfall 0.00
before Draw
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Received
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Remaining
Unpaid Class A-1 Carryover Interest Amount 0.00
2
Maximum Principal Dist. Amount (MPDA) 5,812,101.03
Alternative Principal Dist. Amount (APDA) 5,789,803.11
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 5,789,803.11
Principal allocable to Class A-1 5,789,803.11
SPDA deposited to Funding Account 0.00
Subsequent Funding Mortgage Loans Purchased in 0.00
Period
Cumulative Subsequent Funding Mortgage Loans 135,722,113.20
Purchased
Accelerated Principal Distribution Amount 0.00
APDA allocable to Class A-1 0.00
Reimbursement to Credit Enhancer 0.00
Spread Trigger hit? No
Loss Trigger hit? No
Reduction in Certificate Principal Balance
due to Current Class A-1 Liquidation Loss 294,288.61
Amount
Cumulative Investor Liquidation Loss Amount 294,288.61
Total Principal allocable to A-1 6,084,091.72
Beginning Class A-1 Certificate Principal Balance 195,194,133.27
Ending Class A-1 Certificate Principal Balance 189,110,041.55
Pool Factor (PF) 0.2435814
Servicer Certificate (Page 2 of 3)
Distribution Date: 10/20/2000
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 165,979.61
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 to 0
2.07
Cumulative Number of Mortgage Loans Retransferred 0
pursuant to 2.07
Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00
Cumulative Mortgage Loans Retransferred pursuant to 0.00
2.07 ($)
Aggregate Investor Liquidation Loss Amount 294,288.61
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 218,076,464.34
Ending Pool Balance 211,964,227.64
Beginning Invested Amount 199,175,537.27
Ending Invested Amount 193,091,445.55
Beginning Seller Principal Balance 18,900,927.07
Ending Seller Principal Balance 18,872,782.09
Additional Balances 182,462.13
3
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any 0.00%
purchase of Subsequent Loans or release to Certs.)
Ending Funding Account Balance % (after purchase of 0.00%
Subsequent Loans or release to Certs.)
Principal Balance of Subsequent Funding Loans $0.00
Purchased in Period
Principal Collections to purchase Additional $0.00
Balances and/or paid to Cert.
Investment Earnings on Funding Account $0.00
Excess Funding Amount $0.00
Beginning Spread Account Balance 2,786,983.00
Ending Spread Account Balance 2,786,983.00
Beginning Seller Interest 8.67%
Ending Seller's Interest 8.90%
Delinquency & REO Status
30 - 59 days (Del Stat 3)
No. of Accounts
Trust Balance 656
60 - 89 days (Del Stat 4) 21,904,003.81
No. of Accounts 165
Trust Balance 5,148,945.34
90+ (Del Stat 5+)
No. of Accounts 236
Trust Balance 6,484,324.51
REO
No. of Accounts 27
Trust Balance 862,486.23
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days No
of Required Date ?
Failure to perform covenant relating to Trust's No
Security Interest ?
Failure to perform other covenants as described No
in the Agreement ?
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relating No
to Seller ?
Subject to Investment Company Act of 1940 No
Regulation ?
Servicing Termination ? No
Aggregate of Credit Enhancement Draw Amounts No
exceed 1% of the Cut-off Balance and Pre-Funded
Amount
Servicer Certificate (Page 3 of 3)
Distribution Date: 10/20/2000
Event of Default ? No
Failure by Servicer to make payment within 5 No
Bus. Days of Required Date ?
Failure by Servicer to perform covenant relating No
to Trust's Security Interest ?
Failure by Servicer to perform other covenants No
as described in the Agreement?
Bankruptcy, Insolvency or Receivership relating No
to Master Servicer ?
Trigger Event ? No
4
Policy Fee Distributed to Credit Enhancer (Paid N/A
directly from HFC)
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 395,031.17
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)(vi)) 0.00
Amount paid to Trustee 0.00
Cumulative Draw under Policy 0.00
Net Yield 4.09%
Total Available Funds
Aggregate Amount of Collections 8,424,859.49
Deposit for principal not used to purchase 0.00
subsequent loans
Interest Earnings on the Funding Account 0.00
Total 8,424,859.49
Application of Available Funds
Servicing Fee 165,979.61
Prinicpal and Interest to Class A-1 7,184,295.32
Seller's portion of Principal and Interest 395,031.17
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 679,553.39
Total 8,424,859.49
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.
5
A Servicing Officer
Statement to Certificateholders (Page 1 of 2)
Distribution Date: 10/20/2000
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation 91.3329%
Percentage
Class A Certificateholder Fixed Allocation 97.3182%
Percentage
Beginning Class A-1 Certificate Balance 195,194,133.27
Class A-1 Certificate Rate 6.763750%
Class A-1 Certificate Interest Distributed 1.417107
Class A-1 Certificate Interest Shortfall 0.000000
Distributed
Remaining Unpaid Class A-1 Certificate Interest 0.000000
Shortfall
Rapid Amortization Event ? No
Class A-1 Certificate Principal Distributed 7.836558
Maximum Principal Distribution Amount 7.486223
Scheduled Principal Distribution Amount (SPDA) 7.457502
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount 0.379056
Distributed
Total Amount Distributed to Certificateholders 9.253665
Principal Collections deposited into Funding 0.00
Account
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 189,110,041.55
Class A-1 Factor 0.2435814
Pool Factor (PF) 0.2435814
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Loss $0
Amount
Accrued & Unpaid Interest on Unreimbursed $0
Liquidation Loss Amount
Class A Servicing Fee 165,979.61
Beginning Invested Amount 199,175,537.27
Ending Invested Amount 193,091,445.55
Beginning Pool Balance 218,076,464.34
Ending Pool Balance 211,964,227.64
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
6
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 10/20/2000
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 3)
No. of Accounts 656
Trust Balance 21,904,003.81
60 - 89 days (Del Stat 4)
No. of Accounts 165
Trust Balance 5,148,945.34
90+ (Del Stat 5+)
No. of Accounts 236
Trust Balance 6,484,324.51
REO
No. of Accounts 27
Trust Balance 862,486.23
Aggregate Liquidation Loss Amount for Liquidated 322,215.37
Loans
Class A-1 Certificate Rate for Next Distribution To be updated
Date
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
Cumulative No. of Accounts 4,332.00
Cumulative Trust Balance 135,722,113.20
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursuant 0
to 2.07
Cumulative Number of Mortgage Loans 0
Retransferred pursuant to 2.07
Mortgage Loans Retransferred pursuant to 2.07 0.00
($)
Cumulative Mortgage Loans Retransferred 0.00
pursuant to 2.07 ($)
