HFC CARD FUNDING CORPORATION HOUSEHOLD CREDIT CARD MASTER TRUST 1 Class A and Class B Certificates, Series 1995-1 The undersigned, a duly authorized representative of Household Finance Corporation, as Servicer (the "Servicer"), pursuant to the Pooling...
|
HOUSEHOLD FINANCE CORPORATION |
|
|
HFC CARD FUNDING CORPORATION |
|
|
HOUSEHOLD CREDIT CARD MASTER TRUST 1 |
|
|
Class A and Class B Certificates, Series 1995-1 |
|
|
The undersigned, a duly authorized representative of Household Finance Corporation, |
|
|
as Servicer (the "Servicer"), pursuant to the Pooling and Servicing Agreement, dated as of December |
|
|
1, 1995 (the "Pooling and Servicing Agreement"), by and among HFC Card Funding Corporation, |
|
|
as Transferor, the Servicer, and The Bank of New York, as Trustee, does hereby certify |
|
|
with respect to the information set forth below as follows: |
|
|
|
|
|
1.Capitalized terms used in this Certificate shall have the respective |
|
|
meanings set forth in the Pooling and Servicing Agreement. |
|
|
|
|
|
2.Household Finance Corporation is, as of the date hereof, the Servicer |
|
|
under the Pooling and Servicing Agreement. |
|
|
3.The undersigned is a Servicing Officer. |
|
|
|
|
|
4.This Certificate relates to the Distribution Date occurring on January 16, 2001 |
|
|
0.Xxxxx Information. |
|
|
|
|
|
(a)The aggregate amount of Collections processed for the Due Period |
|
|
preceding such Distribution Date was equal to |
$123,643,615.94 |
|
(b)The aggregate amount of such Collections with respect to Principal |
|
|
Receivables for the Due Period preceding such Distribution Date was |
|
|
equal to |
$93,496,160.39 |
|
(i)The total payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f) ], is |
8.658% |
|
(c)The aggregate amount of such Collections with respect to Finance Charge |
|
|
and Administrative Receivables for the Due Period preceding |
|
|
such Distribution Date was equal to |
$30,147,455.55 |
|
(i)The gross cash yield, [ ((ii)+(iii)+(iv)+(v)+(vii)) * 12 / (f) ], is |
25.614% |
|
(ii)The amount of such aggregate with respect to Finance Charge was equal to |
$23,876,747.36 |
|
(iii)The amount of such aggregate with respect to Fees was equal to |
$4,103,064.05 |
|
(iv)The amount of such aggregate with respect to Interchange was equal to |
$1,247,868.45 |
|
(v)The amount of such aggregate with respect to Other Recoveries was equal to |
$46,797.00 |
|
(vi)The amount of such aggregate with respect to Principal Recoveries was equal to |
$199,502.00 |
|
(d)The Gross Defaulted Amount for the preceding Due Period is |
$7,713,749.80 |
|
(i)The annualized default rate, (d) *12 / (f), is |
6.598% |
|
(ii)The annualized net default rate, [(d)-(c)(vi)] *12 / (f), is |
6.427% |
|
|
|
|
(e)The Portfolio Yield for such Distribution Date [c(i) - d(ii)] |
19.187% |
|
|
|
|
(f)The total amount of Principal Receivables in the Trust at the beginning |
|
|
of the preceding Due Period or, if there were Additions or Removals during the Due |
|
|
Period, the average balance for such Due Period is equal to |
$1,403,021,624.24 |
|
(g)The total amount of Principal Receivables as of the last day of the |
|
|
Immediately preceding Due Period is |
$1,413,275,497.06 |
|
(h)The total amount of Principal Receivables in the Trust at the beginning |
|
|
of the preceding Due Period |
$1,403,021,624.24 |
|
(k)The total amount of Finance Charge and Administrative Receivables in the |
|
|
Trust as of the last day of the immediately preceding Due Period is (excludes discount option) |
$49,805,946.16 |
|
|
|
|
(l)The aggregate outstanding gross balance of the Accounts which were |
|
|
one payment (1-29 days) delinquent as of the close of business on the last |
|
|
day of the calendar month preceding such Distribution Date was equal to |
$72,742,373.27 |
|
(m)The aggregate outstanding gross balance of the Accounts which were |
|
|
two payments (30-59 days) delinquent as of the close of business on the last |
|
|
day of the calendar month preceding such Distribution Date was equal to |
$24,242,179.05 |
|
(n)The aggregate outstanding gross balance of the Accounts which were |
|
|
three or more payments (60+ days) delinquent as of the close of business on the last |
|
|
day of the calendar month preceding such Distribution Date was equal to |
$40,648,599.17 |
|
(m)The aggregate amount of Trust Excess Principal Collections for such |
|
|
Distribution Date is |
$71,417,883.65 |
|
(n)The aggregate amount of Principal Shortfalls for such Distribution Date is |
$88,785,460.90 |
|
(o)The Discount Option Date is |
June 1, 1997 |
|
(p)The Discount Percentage |
3.000% |
|
|
|
|
0.Xxxxx One Information |
|
|
(a)The Average Rate for Group One (the weighted average Certificate Rate |
|
|
reduced to take into account any payments made pursuant to interest |
|
|
rate agreements, if any ) is equal to |
7.202% |
|
(b)Group One Total Investor Collections is equal to |
$27,362,385.50 |
|
(c)Group One Investor Principal Collections is equal to |
$20,690,740.60 |
|
(d)Group One Investor Finance Charge and Administrative Collections is equal to |
$6,671,644.91 |
|
(e)Group One Investor Additional Amounts is equal to |
$0.00 |
|
(f)Group One Investor Default Amount is equal to |
$1,707,056.16 |
|
(g)Group One Investor Monthly Fees is equal to |
$554,365.56 |
|
(h)Group One Investor Monthly Interest is equal to |
$1,755,963.70 |
|
7.Series 1995-1 Information |
|
|
(a)The Series Adjusted Portfolio Yield for the Due Period preceding such |
|
|
Distribution Date was equal to |
17.911% |
|
(b)The Series 1995-1 Allocation Percentage with respect to the Due |
|
|
Period preceding such Distribution Date was equal to |
23.874% |
|
(c)The Floating Allocation Percentage for the Due Period preceding such |
|
|
Distribution Date was equal to |
92.694% |
|
(d)The aggregate amount of Reallocated Finance Charge and |
|
|
Administrative Collections for the Due Period preceding |
|
|
such Distribution Date is equal to |
$6,671,644.91 |
|
(e)The Floating Allocation Percentage of Series Allocable Finance |
|
|
Charge and Administrative Collections for the Due Period preceding |
|
|
such Distribution Date is equal to |
$6,671,644.91 |
|
(f)Class A Invested Amount |
$0.00 |
|
(g)The Class A Invested Percentage with respect to the Due Period |
|
|
preceding such Distribution Date was equal to |
$0.175 |
|
(h)The Class A Invested Percentage of the amount set forth in Item 7(d) |
|
|
above was equal to |
$1,170,044.09 |
|
(i)The amount of Class A Monthly Interest for such Distribution Date is |
|
|
equal to |
$0.00 |
|
(j)The amount of any Class A Monthly Interest previously due but not |
|
|
distributed on a prior Distribution Date is equal to |
$0.00 |
|
(k)The amount of Class A Additional Interest for such Distribution Date |
|
|
is equal to |
$0.00 |
|
(l)The amount of any Class A Additional Interest previously due but not |
|
|
distributed on a prior Distribution Date is equal to |
$0.00 |
|
(m)The Class A Investor Default Amount for such Distribution Date is |
|
|
equal to |
$299,376.09 |
|
(n)The Allocable Servicing Fee for such Distribution Date is equal to |
$554,365.56 |
|
(o)The Class A Required Amount, if any, with respect to such |
|
|
Distribution Date is equal to |
$0.00 |
|
(p)Class B Invested Amount |
$214,286,000.00 |
|
(q)The Class B Invested Percentage for the Due Period preceding such |
|
|
Distribution Date was equal to |
64.42% |
|
(r)The Class B Invested Percentage of the amount set forth in Item 7(d) |
|
|
above is equal to |
$4,298,126.89 |
|
(s)The amount of Class B Monthly Interest for such Distribution Date is |
|
|
equal to |
$1,344,763.70 |
|
(t)The amount of any Class B Monthly Interest previously due but not |
|
|
distributed on a prior Distribution Date is equal to |
$0.00 |
|
(u)The amount of Class B Additional Interest for such Distribution Date |
|
|
is equal to |
$0.00 |
|
(v)The amount of any Class B Additional Interest previously due but not |
|
|
distributed on a prior Distribution Date is equal to |
$0.00 |
|
(w)Class B Investor Default Amount for such Distribution Date is equal |
|
|
to |
$1,099,750.37 |
|
(x)The Collateral Invested Percentage of the amount set forth in Item 7(d) |
|
|
above is equal to |
$1,203,473.92 |
|
(y)The Series 1995-1 Principal Shortfall for such Distribution Date is |
|
|
equal to |
$88,785,460.90 |
|
|
|
|
(z)The Series 1995-1 Excess Principal Collections is equal to |
$88,785,460.90 |
|
(aa)The amount of Excess Finance Charge and Administrative Collections |
|
|
with respect to such Distribution Date is equal to |
$4,473,139.56 |
|
(bb)The amount of Excess Finance Charge and Administrative Collections |
|
|
referred to in Item 7(aa) will be available to be distributed on such |
|
|
Distribution Date to fund or reimburse the following items: |
|
|
(i)to fund the Class A Required Amount, if any, with |
|
|
respect to such Distribution Date |
$0.00 |
|
(ii)to reimburse Class A Investor Charge-Offs |
$0.00 |
|
(iii)to pay current or overdue Class B Monthly Interest, |
|
|
Class B Additional Interest or the Cumulative |
|
|
Excess Interest Amount |
$0.00 |
|
(iv)to fund the Class B Investor Default Amount with |
|
|
respect to such Distribution Date |
$1,099,750.37 |
|
(v)to reimburse certain previous reductions in the Class B |
|
|
Invested Amount |
$0.00 |
|
(vi)to pay the Collateral Monthly Interest for such Distribution |
|
|
Date equal to |
$411,200.00 |
|
(vii)to pay any portion of the Allocable Servicing Fee not |
|
|
paid pursuant to clause (i) above |
$0.00 |
|
(viii)to fund the Collateral Investor Default Amount with |
|
|
respect to such Distribution Date |
$307,929.69 |
|
(ix)to make any required deposit in the Cash Collateral Account |
$0.00 |
|
(cc)The amount of Subordinated Principal Collections with respect to such |
|
|
Distribution Date is equal to |
$17,062,088.42 |
|
(dd)The Principal Allocation Percentage is equal to |
92.69% |
|
(gg)The total amount to be distributed to Class A Certificateholders on |
|
|
such Distribution Date in payment of principal is equal to |
$0.00 |
|
(hh)The total amount to be distributed to Class B Certificateholders on |
|
|
such Distribution Date in payment of principal is equal to |
$107,143,000.00 |
|
(ii)The amount of Class A Investor Charge-Offs for such Distribution |
|
|
Date is equal to |
$0.00 |
|
(jj)The total amount of reimbursements of Class A Investor Charge-Offs |
|
|
for such Distribution Date is equal to |
$0.00 |
|
(kk)The amount of Class B Investor Charge-Offs and other reductions in |
|
|
the Class B Invested Amount for such Distribution Date is equal to |
$0.00 |
|
(ll)The total amount of reimbursements of Class B Investor Charge-Offs |
|
|
for such Distribution Date is equal to |
$0.00 |
|
(mm)The Class A Invested Amount at the close of business on such |
|
|
Distribution Date (after giving effect to all payments and adjustments |
|
|
on such Distribution Date) will be equal to |
$0.00 |
|
(nn)The Class B Invested Amount at the close of business on such |
|
|
Distribution Date (after giving effect to all payments and adjustments |
|
|
on such Distribution Date) will be equal to |
$107,143,000.00 |
|
(oo)The Available Collateral Amount as of the close of business on the |
|
|
preceding Distribution Date (after giving effect to any withdrawal |
|
|
from the Collateral Account) was equal to |
$60,000,000.00 |
|
(pp)The Required Collateral Amount as of the close of business on such |
|
|
Distribution Date, after giving effect to any withdrawal from the |
|
|
Collateral Account and payments to the Collateral Interest Holder on |
|
|
such Distribution Date, will be equal to |
$60,000,000.00 |
|
(qq)The ratio of the Required Collateral Amount to the Class B Invested Amount |
|
|
as of the close of business on such Distribution Date, after giving effect |
|
|
to any withdrawal from the Collateral Account and payments to the |
|
|
Collateral Interest Holder on such Distribution Date, will be equal to |
56.000% |
|
(rr)The Cumulative Excess Interest Amount as of the close of business on |
|
|
such Distribution Date, after giving effect to any payments of interest |
|
|
to Class B Certificateholders on such Distribution Date, will be equal to |
$0.00 |
|
0.Xxxxx amount to be on deposit in the Collection Account (after giving effect to |
|
|
allocations required to be made pursuant to the terms of all other Series now |
|
|
outstanding and to the payment of the Servicer's fee and funding of investor default |
|
|
amounts) prior to making distributions on such Distribution Dates is equal to |
$111,553,223.20 |
|
9.The total amount to be allocated according to the terms of the Collateral |
|
|
Agreement on such Distribution Date is equal to |
$3,065,459.50 |
|
00.Xxxxx amount to be distributed from the Collection Account to the |
|
|
Servicer in respect of the unpaid Allocable Servicing Fee for the |
|
|
preceding Due Period on such Distribution Date (after taking into |
|
|
consideration the amounts which have been netted with respect to this |
|
|
Series against deposits to the Collection Account) is equal to |
$0.00 |
|
00.Xx of the date hereof, to the best knowledge of the undersigned, the Servicer |
|
|
has performed in all material respects all its obligations under the Pooling |
|
|
and Servicing Agreement through the Due Period preceding such |
|
|
Distribution Date or, if there has been a default in the performance of |
|
|
any such obligation, set forth in detail the (i) nature of such default, |
|
|
(ii) the action taken by the Transferor and Servicer, if any, to remedy such default |
|
|
and (iii) the current status of each such default; if applicable, insert "None". |
None |
|
00.Xx of the date hereof, to the best knowledge of the undersigned, no |
|
|
Amortization Event has been deemed to have occurred on or prior to |
|
|
such Distribution Date. |
$0.00 |
|
00.Xx of the date hereof, to the best knowledge of the undersigned, no |
|
|
Lien has been placed on any of the Receivables other than pursuant to |
|
|
the Pooling and Servicing Agreement (or, if there is a Lien, such Lien |
|
|
consists of : ____________________________________________). |
$0.00 |
|
14.The amounts specified to be deposited into and withdrawn from the |
|
|
Collection Account, as well as the amounts specified to be paid to the |
|
|
Transferor, the Servicer, the Collateral Interest Holder and the Certificateholders |
|
|
are all in accordance with the requirements of the Pooling and |
|
|
Servicing Agreement. |
$0.00 |
|
*Approximately $1.7 billion of receivables was removed from the Trust in |
|
|
November 1998 to facilitate Xxxxxxxxx's strategy to sharpen the focus of its U.S. |
|
|
Bankcard business by de-emphasizing non-core Mastercard/Visa activities. The |
|
|
removal favorably impacted the annualized net default rate of the Trust. |
|
|
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this |
|
|
Certificate this 16th day of January, 2001. |
|
|
HOUSEHOLD FINANCE CORPORATION |
|
|
as Servicer, |
|
|
By: _______________________________ |
|
|
Servicing Officer |
|
|
0 |
|
|
Household Finance Corporation |
|
|
HFC Card Funding Corporation |
December 2000 |
|
Household Credit Card Master Trust I , Series 1995-1 |
Jan 16, 2001 |
|
CLASS A CERTIFICATEHOLDER'S STATEMENT |
|
|
A.Information Regarding Distributions |
|
|
1. Total distribution per $1,000 interest |
$0.000000000 |
|
2. Principal distribution per $1,000 interest |
$0.000000000 |
|
3. Interest distribution per $1,000 interest |
$0.000000000 |
|
B. Calculation of Class A Interest |
|
|
1. Calculation of Class A Certificate Rate |
|
|
(a) One-month LIBOR |
6.71% |
|
(b) Spread |
0.17% |
|
(c) Class A Certificate Rate |
6.88% |
|
2. Beginning Principal Amount |
$0.00 |
|
3. Days in Interest Period |
32 |
|
C. Performance of Trust |
|
|
1. Collections of Receivables |
|
|
(a) Total Collections |
$123,643,615.94 |
|
(b) Collections of Finance Charge and Administrative Receivables |
$30,147,455.55 |
|
(c) Collections of Principal |
$93,496,160.39 |
|
2. Allocation of Receivables |
|
|
(a) Class A Invested Percentage |
17.54% |
|
(b) Principal Allocation Percentage |
92.69% |
|
3. Delinquent Balances |
|
|
(a) Delinquent 5 - 29 days |
$72,742,373.27 |
|
4.83% |
|
|
(b) Delinquent 30 - 59 days |
$24,242,179.05 |
|
1.61% |
|
|
(c) Delinquent 60+ days |
$40,648,599.17 |
|
2.70% |
|
|
4. Class A Investor Default Amount |
$299,376.09 |
|
5. Class A Investor Charge-offs; Reimbursement of Charge-offs |
|
|
(a) Class A Investor Charge-offs, if any, for the Distribution Date |
$0.000000000 |
|
(b) The amount of Item 5.(a) per $1,000 interest |
$0.000000000 |
|
(c) Total reimbursed to Trust in respect of Class A Investor Charge-offs |
$0.000000000 |
|
(d) The amount of Item 5.(c) per $1,000 interest |
$0.000000000 |
|
(e) The amount, if any, by which the outstanding principal balance of the |
$0.000000000 |
|
Class A Certificates exceeds the class A Invested Amount as of |
|
|
the end of the Distribution Date |
|
|
6. Allocable Servicing Fee paid for the Distribution Date |
$554,365.56 |
|
7. Deficit Controlled Amortization Amount for the Distribution Date |
$0.000000000 |
|
8. Discount Option Date |
$35,582.000000000 |
|
9. Discount Percentage |
3.00% |
|
D.Class A Pool Factor |
$0.000000000 |
|
E. Receivables Balances |
|
|
1. Principal Receivables as of the last day of the preceding Due Period |
$1,413,275,497.06 |
|
2. Finance Charge and Administrative Receivables as of the last day |
$49,805,946.16 |
|
of the preceding Due Period |
|
|
F.Class B Certificates |
|
|
1. Class B Invested Amount as of the end of the Distribution Date |
$107,143,000.00 |
|
2. Available Collateral Invested Amount as of the end of the Distribution Date |
$60,000,000.00 |
|
Household Finance Corporation |
|
|
HFC Card Funding Corporation |
|
|
Household Credit Card Master Trust I , Series 1995-1 |
|
|
CLASS B CERTIFICATEHOLDER'S STATEMENT |
|
|
A.Information Regarding Distributions |
|
|
1. Total distribution per $1,000 interest |
$506.275555556 |
|
2. Principal distribution per $1,000 interest |
$500.000000000 |
|
3. Interest distribution per $1,000 interest |
$6.275555556 |
|
B. Calculation of Class B Interest |
|
|
1. Calculation of Class B Certificate Rate |
|
|
(a) One-month LIBOR |
6.71% |
|
(b) Spread |
0.35% |
|
(c) Class B Certificate Rate |
7.06% |
|
2. Beginning Invested Amount |
$214,286,000.00 |
|
3. Days in Interest Period |
32 |
|
C. Performance of Trust |
|
|
1. Collections of Receivables |
|
|
(a) Total Collections |
$123,643,615.94 |
|
(b) Collections of Finance Charge and Administrative Receivables |
$30,147,455.55 |
|
(c) Collections of Principal |
$93,496,160.39 |
|
2. Allocation of Receivables |
|
|
(a) Class B Invested Percentage |
64.42% |
|
(b) Principal Allocation Percentage |
92.69% |
|
3. Delinquent Balances |
|
|
(a) Delinquent 5 - 29 days |
$72,742,373.27 |
|
4.83% |
|
|
(b) Delinquent 30 - 59 days |
$24,242,179.05 |
|
1.61% |
|
|
(c) Delinquent 60+ days |
$40,648,599.17 |
|
2.70% |
|
|
4. Class B Investor Default Amount |
$1,099,750.37 |
|
5. Class B Investor Charge-offs; Reimbursement of Charge-offs |
|
|
(a) Class B Investor Charge-offs, if any, for the Distribution Date |
$0.00 |
|
(b) The amount of Item 5.(a) per $1,000 interest |
$0.00 |
|
(c) Total reimbursed to Trust in respect of Class B Investor Charge-offs |
$0.00 |
|
(d) The amount of Item 5.(c) per $1,000 interest |
$0.00 |
|
(e) The amount, if any, by which the outstanding principal balance of the |
$0.00 |
|
Class B Certificates exceeds the Class B Invested Amount as of |
|
|
the end of the Distribution Date |
|
|
6. Available Cash Collateral Amount |
|
|
(a) Available Cash Collateral Amount at the end of the Distribution Date |
$0.00 |
|
(b) Available Cash Collateral Amount as a percent of the Class B |
$0.00 |
|
Invested Amount, each at the end of the Distribution Date |
|
|
7. Available Collateral Invested Amount |
$60,000,000.00 |
|
8. Deficit Controlled Amortization Amount for the Distribution Date |
$0.00 |
|
9. Discount Option Date |
June 1, 1997 |
|
10. Discount Percentage |
3.00% |
|
D.Class B Pool Factor |
$0.500000000 |
|
E. Receivables Balances |
|
|
1. Principal Receivables as of the last day of the preceding Due Period |
$1,413,275,497.06 |
|
2. Finance Charge and Administrative Receivables as of the last day |
$49,805,946.16 |
