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:
12/20/96
Investor Certificateholder Floating Allocation Percentage
97.50%
Investor Certificateholder Fixed Allocation Percentage
97.50%
Aggregate Amount of Collections
29,088,055.52
Aggregate Amount of Interest Collections
8,484,382.09
Aggregate Amount of Principal Collections
20,603,673.43
Class A Interest Collections
8,272,340.41
Class A Principal Collections
19,033,591.35
Seller Interest Collections
212,041.68
Seller Principal Collections
1,570,082.08
Weighted Average Loan Rate
13.53%
Net Loan Rate
12.53%
Weighted Average Maximum Loan Rate
18.60%
Class A-1 Certificate Rate
5.5750%
Maximum Investor Certificate Rate
12.5300%
Class A-1 Certificate Interest Distributed
3,785,267.51
Class A-1 Investor Certificate Interest Shortfall before Draw
0.00
Unpaid Class A-1 Certificate Interest Shortfall Received
0.00
Unpaid Class A-1 Certificate Interest Shortfall Remaining
0.00
Unpaid Class A-1 Carryover Interest Amount
0.00
Maximum Principal Dist. Amount (MPDA)
20,088,581.59
Alternative Principal Dist. Amount (APDA)
19,033,591.35
Rapid Amortization Period? (Y=1, N=0)
0.00
Scheduled Principal Distribution Amount (SPDA)
19,033,591.35
Principal allocable to Class A-1
12,510,529.67
SPDA deposited to Funding Account
19,033,591.35
Subsequent Funding Mortgage Loans Purchased in Period
0.00
Cumulative Subsequent Funding Mortgage Loans Purchased
0.00
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 Amount
72,871.98
Cumulative Investor Liquidation Loss Amount
72,871.98
Total Principal allocable to A-1
12,583,401.65
Beginning Class A-1 Certificate Principal Balance
814,766,101.58
Ending Class A-1 Certificate Principal Balance
802,182,699.93
Pool Factor (PF)
0.9791337
Servicer Certificate (Page 2 of 3)
Distribution Date:
12/20/96
Retransfer Deposit Amount (non 2.07 transfers)
0.00
Servicing Fees Distributed
603,880.28
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 2.07
0
Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07
0
Mortgage Loans Retransferred pursuant to 2.07 ($)
0.00
Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($)
0.00
Aggregate Investor Liquidation Loss Amount
72,871.98
Investor Loss Reduction Amount
0.00
Beginning Pool Balance
745,648,693.34
Ending Pool Balance
726,539,138.68
Beginning Invested Amount
818,967,528.58
Ending Invested Amount
806,384,126.93
Beginning Seller Principal Balance
20,992,358.68
Ending Seller Principal Balance
20,989,267.35
Additional Balances
1,570,082.08
Beginning Funding Account Balance
94,311,193.92
Ending Funding Account Balance
100,834,255.60
Ending Funding Account Balance % (before any purchase of Subsequent
Loans or release to Certs.) 13.49%
Ending Funding Account Balance % (after purchase of Subsequent
Loans or release to Certs.) 12.00%
Principal Balance of Subsequent Funding Loans Purchased in Period
$0.00
Principal Collections to purchase Additional Balances and/or paid
to Cert. $0.00
Excess Funding Amount
Beginning Spread Account Balance
2,100,714.00
Ending Spread Account Balance
2,100,714.00
Beginning Seller Interest
2.82%
Ending Seller's Interest
2.89%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts
Trust Balance
1,245
60 - 89 days (Del Stat 2)
45,775,326.48
No. of Accounts
176
Trust Balance
6,655,164.10
90+ (Del Stat 3+)
No. of Accounts
323
Trust Balance
11,487,676.89
270+ (Del Stat 9+)
No. of Accounts
19
Trust Balance
682,062.22
REO
No. of Accounts
3
Trust Balance
70,765.02
Rapid Amortization Event ?
No
Failure to make payment within 5 Business Days of Required Date
? No
Failure to perform covenant relating to Trust's Security
Interest ? No
Failure to perform other covenants as described in the Agreement
? No
Breach of Representation or Warranty ?
No
Bankruptcy, Insolvency or Receivership relating to Seller ?
No
Subject to Investment Company Act of 1940 Regulation ?
No
Servicing Termination ?
No
Aggregate of Credit Enhancement Draw Amounts exceed 1% of the
Cut-off Balance and Pre-Funded Amount No
Servicer Certificate (Page 3 of 3)
Distribution Date:
12/20/96
Event of Default ?
No
Failure by Servicer to make payment within 5 Bus. Days of
Required Date ? No
Failure by Servicer to perform covenant relating to Trust's
Security Interest ? No
Failure by Servicer to perform other covenants as described in
the Agreement? No
Bankruptcy, Insolvency or Receivership relating to Master
Servicer ? No
Trigger Event ?
No
Policy Fee Distributed to Credit Enhancer (Paid directly from HFC)
N/A
Premium Distributed to Credit Enhancer
0.00
Amount Distributed to Seller
1,782,123.76
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
5.58%
Total Available Funds
Aggregate Amount of Collections
29,088,055.52
Deposit for principal not used to purchase subsequent loans
0.00
Interest Earnings on the Pre-Funding Account
0.00
Deposit from Capitalized Interest Account
0.00
Total
29,088,055.52
Application of Available Funds
Servicing Fee
603,880.28
Prinicpal and Interest to Class A-1
16,368,669.16
Seller's portion of Principal and Interest
1,782,123.76
Funds deposited into Funding Account (Net)
6,523,061.68
Funds deposited into Spread Account
0.00
Excess funds released to Seller
3,810,320.64
Total
29,088,055.52
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.
Attached as Exhibit A hereto is a list of all Mortgage Loans with
respect to which the Trust Balances have been paid in full and
all amounts received in connections with the payment of such
Trust Balances which are required to be deposited in the
Certificate Account or credited to the Mortgage Loan Payment
Record pursuant to Section 3.02 of the Agreement have been
so deposited.
A Servicing Officer
Statement to Certificateholders (Page 1 of 2)
Distribution Date:
12/20/96
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage
97.5008%
Class A Certificateholder Fixed Allocation Percentage
97.5000%
Beginning Class A-1 Certificate Balance
814,766,101.58
Class A-1 Certificate Rate
5.575000%
Class A-1 Certificate Interest Distributed
4.620248
Class A-1 Certificate Interest Shortfall Distributed
0.000000
Remaining Unpaid Class A-1 Certificate Interest Shortfall
0.000000
Rapid Amortization Event ?
No
Class A-1 Certificate Principal Distributed
15.359135
Maximum Principal Distribution Amount
24.519860
Scheduled Principal Distribution Amount (SPDA)
23.232152
Accelerated Principal Distribution Amount
0.000000
Aggregate Investor Liquidation Loss Amount Distributed
0.088947
Total Amount Distributed to Certificateholders
19.890437
Principal Collections deposited into Funding Account
19,033,591.35
Ending Funding Account Balance
100,834,255.60
Ending Class A-1 Certificate Balance
802,182,699.93
Class A-1 Factor
0.9791337
Pool Factor (PF)
0.9791337
Unreimbursed Liquidation Loss Amount
$0
Accrued Interest on Unreimbursed Liquidation Loss Amount
$0
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount
$0
Class A Servicing Fee
603,880.28
Beginning Invested Amount
818,967,528.58
Ending Invested Amount
806,384,126.93
Beginning Pool Balance
745,648,693.34
Ending Pool Balance
726,539,138.68
Spread Account Draw Amount
0.00
Credit Enhancement Draw Amount
0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date:
12/20/96
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts
1,245
Trust Balance
45,775,326.48
60 - 89 days (Del Stat 2)
No. of Accounts
176
Trust Balance
6,655,164.10
90+ (Del Stat 3+)
No. of Accounts
323
Trust Balance
11,487,676.89
REO
No. of Accounts
3
Trust Balance
70,765.02
Aggregate Liquidation Loss Amount for Liquidated Loans
5,393.88
Class A-1 Certificate Rate for Next Distribution Date
To be updated
Amount of any Draws on the Policy
0.00
Subsequent Mortgage Loans
No. of Accounts
0.00
Trust Balance
0.00
Cumulative No. of Accounts
0.00
Cumulative Trust Balance
0.00
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursuant to 2.07
0
Cumulative Number of Mortgage Loans Retransferred pursuant to
2.07 0
Mortgage Loans Retransferred pursuant to 2.07 ($)
0.00
