1
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)
06/20/2000
Investor Certificateholder Floating Allocation 90.89%
Percentage
Investor Certificateholder Fixed Allocation 97.37%
Percentage
Aggregate Amount of Collections 7,776,040.78
Aggregate Amount of Interest Collections 2,308,023.27
Aggregate Amount of Principal Collections 5,468,017.51
Class A Interest Collections 2,097,809.16
Class A Principal Collections 5,196,686.18
Seller Interest Collections 210,214.11
Seller Principal Collections 271,331.33
Weighted Average Loan Rate 13.68%
Net Loan Rate 12.68%
Weighted Average Maximum Loan Rate 18.81%
Class A-1 Certificate Rate 6.8088%
Maximum Investor Certificate Rate 12.6766%
Class A-1 Certificate Interest Distributed 1,055,514.44
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) 5,323,940.72
Alternative Principal Dist. Amount (APDA) 5,196,686.18
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 5,196,686.18
Principal allocable to Class A-1 5,196,686.18
SPDA deposited to Funding Account 0.00
Subsequent Funding Mortgage Loans Purchased in 0.00
Period
Cumulative Subsequent Funding Mortgage Loans 100,781,997.58
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
Reduction in Certificate Principal Balance
due to Current Class A-1 Liquidation Loss 120,337.71
Amount
Cumulative Investor Liquidation Loss Amount 120,337.71
Total Principal allocable to A-1 5,317,023.89
Beginning Class A-1 Certificate Principal Balance 192,442,633.86
Ending Class A-1 Certificate Principal Balance 187,125,609.97
Pool Factor (PF) 0.2284031
Servicer Certificate (Page 2 of 3)
Distribution Date: 06/20/2000
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 163,870.05
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
to 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 0.00
to 2.07 ($)
Aggregate Investor Liquidation Loss Amount 120,337.71
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 216,349,073.20
Ending Pool Balance 211,019,365.36
Beginning Invested Amount 196,644,060.86
Ending Invested Amount 191,327,036.97
Beginning Seller Principal Balance 19,705,012.34
Ending Seller Principal Balance 19,692,328.39
Additional Balances 271,331.33
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 0.00%
of 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.
Excess Funding Amount $0.00
Beginning Spread Account Balance 2,100,714.00
Ending Spread Account Balance 2,100,714.00
Beginning Seller Interest 9.11%
Ending Seller's Interest 9.33%
Delinquency & REO Status
30 - 59 days (Del Stat 3)
No. of Accounts
Trust Balance 454
60 - 89 days (Del Stat 4) 15,135,752.54
No. of Accounts 113
Trust Balance 3,736,460.29
90+ (Del Stat 5+)
No. of Accounts 249
Trust Balance 7,094,814.39
270+ (Del Stat 11+)
No. of Accounts 135
Trust Balance 3,753,806.91
REO
No. of Accounts 40
Trust Balance 1,160,685.75
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days No
of Required Date ?
Failure to perform covenant relating to No
Trust's Security Interest ?
Failure to perform other covenants as No
described in the Agreement ?
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership No
relating 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: 06/20/2000
Event of Default ? No
Failure by Servicer to make payment within 5 No
Bus. Days of Required Date ?
Failure by Servicer to perform covenant No
relating to Trust's Security Interest ?
Failure by Servicer to perform other covenants No
as described in the Agreement?
Bankruptcy, Insolvency or Receivership No
relating 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 481,545.44
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 0.00
(5.01(a)(vi))
Amount paid to Trustee 0.00
Cumulative Draw under Policy 0.00
Net Yield 4.63%
Total Available Funds
Aggregate Amount of Collections 7,776,040.78
Deposit for principal not used to purchase 0.00
subsequent loans
Interest Earnings on the Pre-Funding Account 0.00
Deposit from Capitalized Interest Account 0.00
Total 7,776,040.78
Application of Available Funds
Servicing Fee 163,870.05
Prinicpal and Interest to Class A-1 6,372,538.33
Seller's portion of Principal and Interest 481,545.44
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 758,086.96
Total 7,776,040.78
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
5
Statement to Certificateholders (Page 1 of 2)
Distribution Date: 06/20/2000
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER
$1000)
Class A Certificateholder Floating Allocation 90.8920%
Percentage
Class A Certificateholder Fixed Allocation 97.3651%
Percentage
Beginning Class A-1 Certificate Balance 192,442,633.86
Class A-1 Certificate Rate 6.808750%
Class A-1 Certificate Interest Distributed 1.288347
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 6.489890
Maximum Principal Distribution Amount 6.498332
Scheduled Principal Distribution Amount 6.343007
(SPDA)
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount 0.146883
Distributed
Total Amount Distributed to Certificateholders 7.778237
Principal Collections deposited into Funding 0.00
Account
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 187,125,609.97
Class A-1 Factor 0.2284031
Pool Factor (PF) 0.2284031
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Loss $0
Amount
Accrued & Unpaid Interest on Unreimbursed $0
Liquidation Loss Amount
Class A Servicing Fee 163,870.05
Beginning Invested Amount 196,644,060.86
Ending Invested Amount 191,327,036.97
Beginning Pool Balance 216,349,073.20
Ending Pool Balance 211,019,365.36
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
6
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 06/20/2000
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 3)
No. of Accounts 454
Trust Balance 15,135,752.54
60 - 89 days (Del Stat 4)
No. of Accounts 113
Trust Balance 3,736,460.29
90+ (Del Stat 5+)
No. of Accounts 249
Trust Balance 7,094,814.39
REO
No. of Accounts 40
Trust Balance 1,160,685.75
Aggregate Liquidation Loss Amount for Liquidated 132,396.33
Loans
Class A-1 Certificate Rate for Next Distribution To be updated
Date
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
Cumulative No. of Accounts 3,249.00
Cumulative Trust Balance 100,781,997.58
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred 0
pursuant to 2.07
Cumulative Number of Mortgage Loans 0
Retransferred pursuant to 2.07
Mortgage Loans Retransferred pursuant to 2.07 0.00
($)
Cumulative Mortgage Loans Retransferred 0.00
pursuant to 2.07 ($)
