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:...
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Household Finance Corporation |
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Household Revolving Home Equity Loan |
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Revolving Home Equity Loan Asset Backed Certificates - Series 1996-1 |
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P & S Agreement Date: May 1, 1996 |
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Original Settlement Date: May 23, 1996 |
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Series Number of Class A-1 Certificates: 000000XX0 |
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Series Number of Class A-2 Certificates: N/A |
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Original Sale Balance: $819,278,000 |
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Distribution Date: |
20-Nov-02 |
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Determination Date: |
19-Nov-02 |
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Month: |
78 |
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Certificate Information |
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Servicer Certificate (Page 1 of 4) |
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Distribution Date: |
11/20/02 |
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Investor Certificateholder Floating Allocation Percentage |
81.88% |
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Investor Certificateholder Fixed Allocation Percentage |
97.37% |
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Aggregate Amount of Collections |
3,560,364.60 |
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Aggregate Amount of Interest Collections |
1,073,559.78 |
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Aggregate Amount of Principal Collections |
2,486,804.82 |
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Class A Interest Collections |
879,072.80 |
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Class A Principal Collections |
2,357,835.73 |
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Seller Interest Collections |
194,486.98 |
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Seller Principal Collections |
128,969.09 |
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Weighted Average Loan Rate |
10.95% |
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Net Loan Rate |
9.95% |
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Weighted Average Maximum Loan Rate |
18.41% |
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Class A-1 Certificate Rate |
2.03% |
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Maximum Investor Certificate Rate |
9.95% |
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Class A-1 Certificate Interest Distributed |
139,214.15 |
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Class A-1 Investor Certificate Interest Shortfall before Draw |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Received |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Remaining |
0.00 |
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Unpaid Class A-1 Carryover Interest Amount |
0.00 |
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Class A-2 Certificate Rate |
0 |
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Maximum Investor Certificate Rate |
0.099545 |
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Class A-2 Certificate Interest Distributed |
0 |
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Class A-2 Investor Certificate Interest Shortfall before Policy Draw |
0 |
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Unpaid Class A-2 Certificate Interest Shortfall Received |
0 |
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Unpaid Class A-2 Certificate Interest Shortfall Remaining |
0 |
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Unpaid Class A-2 Carryover Interest Amount |
0 |
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Maximum Principal Dist. Xxxxxx (MPDA) |
2,421,401.85 |
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Alternative Principal Dist. Amount (APDA) |
2,357,835.73 |
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Rapid Amortization Period? (Y1, N0) |
0.00 |
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Scheduled Principal Distribution Amount (SPDA) |
2,357,835.73 |
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Principal allocable to Class A-1 |
2,357,835.73 |
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Principal allocable to Class A-2 |
0 |
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SPDA deposited to Funding Account |
0.00 |
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Subsequent Funding Mortgage Loans Purchased in Period |
0 |
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Cumulative Subsequent Funding Mortgage Loans Purchased |
100,781,997.58 |
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Accelerated Principal Distribution Amount |
0.00 |
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APDA allocable to Class A-1 |
0.00 |
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APDA allocable to Class A-2 |
0 |
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Reimbursement to Credit Enhancer |
0.00 |
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Net Yield Trigger Calculation (Insurance Agreement) Monthly |
8.87% |
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Net Yield Trigger Calculation (Insurance Agreement) 3 month avg |
8.11% |
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Spread Trigger hit? |
No |
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Reduction in Certificate Principal Balance |
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due to Current Class A-1 Liquidation Loss Amount |
28,201.62 |
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Reduction in Certificate Principal Balance |
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due to Current Class A-2 Liquidation Loss Amount |
0 |
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Cumulative Investor Liquidation Loss Amount |
28,201.62 |
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Servicer Certificate (Page 2 of 4) |
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Distribution Date: |
11/20/02 |
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Total Principal allocable to A-1 |
2,386,037.35 |
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Total Principal allocable to A-2 |
0 |
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Beginning Class A-1 Certificate Principal Balance |
82,294,078.93 |
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Beginning Class A-2 Certificate Principal Balance |
0 |
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Ending Class A-1 Certificate Principal Balance |
79,908,041.58 |
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Ending Class A-2 Certificate Principal Balance |
0 |
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Class A-1 Factor |
0.097534709 |
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Class A-2 Factor |
0 |
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Pool Factor (PF) |
0.097534709 |
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Retransfer Deposit Amount (non 2.07 transfers) |
0.00 |
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Servicing Fees Distributed |
72,079.59 |
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Beg. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Accrued and Unpaid Inv. Servicing Fees Recv'd |
0.00 |
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End. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Current Investor Net Realized Loss |
28,201.62 |
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Investor Loss Reduction Amount |
0.00 |
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Beginning Pool Balance |
105,631,861.90 |
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Ending Pool Balance |
103,239,158.75 |
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Beginning Invested Amount |
86,495,505.93 |
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Ending Invested Amount |
84,109,468.58 |
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Beginning Seller Principal Balance |
19,136,355.97 |
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Ending Seller Principal Balance |
19,129,690.17 |
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Additional Balances |
128,969.09 |
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Beginning Funding Account Balance |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Funding Account Balance % (before any purchase of Subsequent Loans or release to Certs.) 0.00% |
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Ending Funding Account Balance % (after purchase of Subsequent Loans or release to Certs.) 0.00% |
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Principal Balance of Subsequent Funding Loans Purchased in Period |
$0.00 |
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Principal Collections to purchase Additional Balances and/or paid to Cert. |
$0.00 |
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Excess Funding Amount |
$0.00 |
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Beginning Pre-Funding Account Balance |
0 |
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Ending Pre-Funding Account Balance |
0 |
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Pre-Funding Earnings |
0 |
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Beginning Capitalized Interest Account |
0 |
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Capital Interest Requirement (Transferred to Collection Account) |
0 |
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Ending Capitalized Interest Account |
0 |
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Beginning Spread Account Balance |
2,100,714.00 |
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Ending Spread Account Balance |
2,100,714.00 |
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Beginning Seller Interest |
18.12% |
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Ending Seller's Interest |
18.53% |
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Delinquency & REO Status |
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30 - 59 days |
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No. of Accounts |
224 |
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Trust Balance |
6,782,007.19 |
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Servicer Certificate (Page 3 of 4) |
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Distribution Date: |
11/20/02 |
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60 - 89 days |
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No. of Accounts |
94 |
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Trust Balance |
3,300,862.66 |
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90+ days |
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No. of Accounts |
132 |
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Trust Balance |
3,107,234.28 |
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270+ days |
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No. of Accounts |
68 |
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Trust Balance |
1,112,894.36 |
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REO |
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No. of Accounts |
8 |
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Trust Balance |
580,491.90 |
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Rapid Amortization Event ? |
No |
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Failure to make payment within 5 Business Days of Required Date ? |
No |
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Failure to perform covenant relating to Trust's Security Interest ? |
No |
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Failure to perform other covenants as described in the Agreement ? |
No |
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Breach of Representation or Warranty ? |
No |
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Bankruptcy, Insolvency or Receivership relating to Seller ? |
No |
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Subject to Investment Company Act of 1940 Regulation ? |
No |
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Servicing Termination ? |
No |
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Aggregate of Credit Enhancement Draw Amounts exceed 1% of the Cut-off Balance and Pre-Funded Amount No |
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Event of Default ? |
No |
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Failure by Servicer to make payment within 5 Bus. Days of Required Date ? |
No |
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Failure by Servicer to perform covenant relating to Trust's Security Interest ? |
No |
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Failure by Servicer to perform other covenants as described in the Agreement? |
No |
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Bankruptcy, Insolvency or Receivership relating to Master Servicer ? |
No |
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Trigger Event ? |
No |
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Policy Fee Distributed to Credit Enhancer (Paid directly from HFC) |
N/A |
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Premium Distributed to Credit Enhancer |
0.00 |
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Amount Distributed to Seller |
323,456.07 |
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Master Servicer Credit Facility Amount |
0.00 |
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Guaranteed Principal Distribution Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Spread Account Draw Amount |
0.00 |
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Capitalized Interest Account Draw |
0 |
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Amount re-imbursed to Credit Enhancer (5.01(a)(vi)) |
0 |
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Amount paid to Trustee |
0 |
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Cumulative Draw under Policy |
0 |
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Net Yield |
8.87% |
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Total Available Funds |
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Aggregate Amount of Collections |
3,560,364.60 |
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Deposit for principal not used to purchase subsequent loans |
0 |
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Interest Earnings on the Pre-Funding Account |
0 |
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Deposit from Capitalized Interest Account |
0 |
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Total |
3,560,364.60 |
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Servicer Certificate (Page 4 of 4) |
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Distribution Date: |
11/20/02 |
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Application of Available Funds |
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Servicing Fee |
72,079.59 |
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Principal and Interest to Class A-1 |
2,525,251.50 |
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Principal and Interest to Class A-2 |
0 |
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Seller's portion of Principal and Interest |
323,456.07 |
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Funds deposited into Funding Account (Net) |
0.00 |
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Funds deposited into Spread Account |
0.00 |
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Excess funds released to Seller |
639,577.44 |
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Total |
3,560,364.60 |
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OFFICERS'S CERTIFICATE |
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All computations reflected in this Servicer Certificate were |
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made in conformity with the Pooling and Servicing Agreement. |
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The attached Servicing Certificate is true and correct in all |
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material respects. |
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A Servicing Officer |
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Statement to Certificateholders (Page 1 of 2) |
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Distribution Date: |
11/20/02 |
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000) |
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Class A Certificateholder Floating Allocation Percentage |
81.88% |
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Class A Certificateholder Fixed Allocation Percentage |
97.37% |
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Beginning Class A-1 Certificate Balance |
82,294,078.93 |
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Beginning Class A-2 Certificate Balance |
0 |
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Class A-1 Certificate Rate |
2.03% |
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Class A-2 Certificate Rate |
0 |
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Class A-1 Certificate Interest Distributed |
0.169922969 |
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Class A-2 Certificate Interest Distributed |
0 |
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Class A-1 Certificate Interest Shortfall Distributed |
0 |
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Class A-2 Certificate Interest Shortfall Distributed |
0 |
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Remaining Unpaid Class A-1 Certificate Interest Shortfall |
0 |
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Remaining Unpaid Class A-2 Certificate Interest Shortfall |
0 |
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Rapid Amortization Event ? |
No |
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Class A-1 Certificate Principal Distributed |
2.912365949 |
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Class A-2 Certificate Principal Distributed |
0 |
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Maximum Principal Distribution Amount |
2.955531395 |
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Scheduled Principal Distribution Amount (SPDA) |
2.877943421 |
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Accelerated Principal Distribution Amount |
0 |
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Aggregate Investor Liquidation Loss Amount Distributed |
0.034422528 |
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Total Amount Distributed to Certificateholders |
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3.082288918 |
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Principal Collections deposited into Funding Account |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Class A-1 Certificate Balance |
79,908,041.58 |
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Ending Class A-2 Certificate Balance |
0 |
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Class A-1 Factor |
0.097534709 |
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Class A-2 Factor |
0 |
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Pool Factor (PF) |
0.097534709 |
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Unreimbursed Liquidation Loss Amount |
0 |
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Accrued Interest on Unreimbursed Liquidation Loss Amount |
0 |
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Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount |
0 |
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Class A Servicing Fee |
72,079.59 |
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Beginning Invested Amount |
86,495,505.93 |
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Ending Invested Amount |
84,109,468.58 |
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Beginning Pool Balance |
105,631,861.90 |
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Ending Pool Balance |
103,239,158.75 |
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Spread Account Draw Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Statement to Certificateholders (Page 2 of 2) |
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Distribution Date: |
11/20/02 |
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DELINQUENCY & REO STATUS |
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30 - 59 days |
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No. of Accounts |
224 |
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Trust Balance |
6,782,007.19 |
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60 - 89 days |
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No. of Accounts |
94 |
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Trust Balance |
3,300,862.66 |
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90+ days |
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No. of Accounts |
132 |
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Trust Balance |
3,107,234.28 |
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REO |
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No. of Accounts |
8 |
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Trust Balance |
580,491.90 |
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Current Net Realized Loss |
34,440.98 |
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Class A-1 Certificate Rate for Next Distribution Date |
To be updated |
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Class A-2 Certificate Rate for Next Distribution Date |
To be updated |
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Amount of any Draws on the Policy |
0.00 |
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Subsequent Mortgage Loans |
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No. of Accounts |
0.00 |
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Trust Balance |
0.00 |
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Cumulative No. of Accounts |
3249 |
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Cumulative Trust Balance |
100,781,997.58 |
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Retransferred Mortgage Loans pursuant to 2.07 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Pre-Funded Amount (Ending) |
0 |
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Subsequent Pre-Funding Mortgage Loans |
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No. of Accounts |
0 |
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Trust Balance |
0 |
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Capitalized Interest Account (Ending) |
0 |
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Earnings on the Pre-Funding Account |
0 |
