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: 01/21/97
Investor Certificateholder Floating Allocation Percentage 97.46%
Investor Certificateholder Fixed Allocation Percentage 97.50%
Aggregate Amount of Collections 26,883,734.66
Aggregate Amount of Interest Collections 7,875,661.36
Aggregate Amount of Principal Collections 19,008,073.30
Class A Interest Collections 7,675,863.71
Class A Principal Collections 17,633,674.48
Seller Interest Collections 199,797.65
Seller Principal Collections 1,374,398.82
Weighted Average Loan Rate 13.52%
Net Loan Rate 12.52%
Weighted Average Maximum Loan Rate 18.61%
Class A-1 Certificate Rate 5.8445%
Maximum Investor Certificate Rate 12.5200%
Class A-1 Certificate Interest Distributed 4,167,449.65
Class A-1 Investor Certificate Interest Shortfall before Dra 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) 18,532,871.47
Alternative Principal Dist. Amount (APDA) 17,633,674.48
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 17,633,674.48
Principal allocable to Class A-1 17,633,674.48
SPDA deposited to Funding Account 17,633,674.48
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 385,051.52
Cumulative Investor Liquidation Loss Amount 385,051.52
Total Principal allocable to A-1 18,018,726.00
Beginning Class A-1 Certificate Principal Balance 802,182,699.93
Ending Class A-1 Certificate Principal Balance 784,163,973.93
Pool Factor (PF) 0.9571403
Servicer Certificate (Page 2 of 3)
Distribution Date: 01/21/97
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 587,958.23
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 t 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 385,051.52
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 726,539,138.68
Ending Pool Balance 708,504,197.96
Beginning Invested Amount 806,384,126.93
Ending Invested Amount 788,365,400.93
Beginning Seller Principal Balance 20,989,267.35
Ending Seller Principal Balance 20,973,052.63
Additional Balances 1,374,398.82
Beginning Funding Account Balance 100,834,255.60
Ending Funding Account Balance 100,834,255.60
Ending Funding Account Balance % (before any purchase of Sub 14.10%
Ending Funding Account Balance % (after purchase of Subseque 12.00%
Principal Balance of Subsequent Funding Loans Purchased in P $0.00
Principal Collections to purchase Additional Balances and/or $0.00
Excess Funding Amount
Beginning Spread Account Balance 2,100,714.00
Ending Spread Account Balance 2,100,714.00
Beginning Seller Interest 2.89%
Ending Seller's Interest 2.96%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts
Trust Balance 1,171
60 - 89 days (Del Stat 2) 44,056,846.94
No. of Accounts 239
Trust Balance 8,270,660.84
90+ (Del Stat 3+)
No. of Accounts 327
Trust Balance 12,006,374.93
270+ (Del Stat 9+)
No. of Accounts 33
Trust Balance 1,127,663.44
REO
No. of Accounts 5
Trust Balance 197,597.94
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days of RequireNo
Failure to perform covenant relating to Trust's Security No
Failure to perform other covenants as described in the AgNo
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relating to SellerNo
Subject to Investment Company Act of 1940 Regulation ? No
Servicing Termination ? No
Aggregate of Credit Enhancement Draw Amounts exceed 1% ofNo
Servicer Certificate (Page 3 of 3)
Distribution Date: 01/21/97
Event of Default ? No
Failure by Servicer to make payment within 5 Bus. Days ofNo
Failure by Servicer to perform covenant relating to TrustNo
Failure by Servicer to perform other covenants as describNo
Bankruptcy, Insolvency or Receivership relating to MasterNo
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid directly froN/A
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 1,574,196.47
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 3.77%
Total Available Funds
Aggregate Amount of Collections 26,883,734.66
Deposit for principal not used to purchase subsequent l 0.00
Interest Earnings on the Pre-Funding Account 0.00
Deposit from Capitalized Interest Account 0.00
Total 26,883,734.66
Application of Available Funds
Servicing Fee 587,958.23
Prinicpal and Interest to Class A-1 22,186,175.65
Seller's portion of Principal and Interest 1,574,196.47
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 2,535,404.31
Total 26,883,734.66
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: 01/21/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage 97.4631%
Class A Certificateholder Fixed Allocation Percentage 97.5000%
Beginning Class A-1 Certificate Balance 802,182,699.93
Class A-1 Certificate Rate 5.844530%
Class A-1 Certificate Interest Distributed 5.086734
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 21.993421
Maximum Principal Distribution Amount 22.620980
Scheduled Principal Distribution Amount (SPDA) 21.523432
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Distributed 0.469989
Total Amount Distributed to Certificateholders 26.610167
Principal Collections deposited into Funding Account 17,633,674.48
Ending Funding Account Balance 100,834,255.60
Ending Class A-1 Certificate Balance 784,163,973.93
Class A-1 Factor 0.9571403
Pool Factor (PF) 0.9571403
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Loss Amount $0
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss A $0
Class A Servicing Fee 587,958.23
Beginning Invested Amount 806,384,126.93
Ending Invested Amount 788,365,400.93
Beginning Pool Balance 726,539,138.68
Ending Pool Balance 708,504,197.96
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 01/21/97
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts 1,171
Trust Balance 44,056,846.94
60 - 89 days (Del Stat 2)
No. of Accounts 239
Trust Balance 8,270,660.84
90+ (Del Stat 3+)
No. of Accounts 327
Trust Balance 12,006,374.93
REO
No. of Accounts 5
Trust Balance 197,597.94
Aggregate Liquidation Loss Amount for Liquidated Loans 248,544.16
Class A-1 Certificate Rate for Next Distribution Date To be updated
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
Cumulative No. of Accounts 0.00
Cumulative Trust Balance 0.00
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursuant to 2.07 0
Cumulative Number of Mortgage Loans Retransferred pursua 0
Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00
Cumulative Mortgage Loans Retransferred pursuant to 2.07 0.00
