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: 03/20/97
Investor Certificateholder Floating Allocation Percentage 97.37%
Investor Certificateholder Fixed Allocation Percentage 97.37%
Aggregate Amount of Collections 28,557,300.32
Aggregate Amount of Interest Collections 8,937,613.71
Aggregate Amount of Principal Collections 19,619,686.61
Class A Interest Collections 8,702,116.53
Class A Principal Collections 17,862,085.19
Seller Interest Collections 235,497.18
Seller Principal Collections 1,757,601.42
Weighted Average Loan Rate 13.54%
Net Loan Rate 12.54%
Weighted Average Maximum Loan Rate 18.46%
Class A-1 Certificate Rate 5.5750%
Maximum Investor Certificate Rate 12.5400%
Class A-1 Certificate Interest Distributed 3,339,232.82
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) 19,102,727.49
Alternative Principal Dist. Amount (APDA) 17,862,085.19
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 17,862,085.19
Principal allocable to Class A-1 17,862,085.19
SPDA deposited to Funding Account 0.00
Subsequent Funding Mortgage Loans Purchased in Period 0.00
Cumulative Subsequent Funding Mortgage Loans Purchased 100,781,997.58
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 525,169.76
Cumulative Investor Liquidation Loss Amount 525,169.76
Total Principal allocable to A-1 18,387,254.95
Beginning Class A-1 Certificate Principal Balance 770,098,535.58
Ending Class A-1 Certificate Principal Balance 751,711,280.63
Pool Factor (PF) 0.9175289
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 645,249.97
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 525,169.76
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 795,254,226.60
Ending Pool Balance 776,850,054.77
Beginning Invested Amount 774,299,962.58
Ending Invested Amount 755,912,707.63
Servicer Certificate (Page 2 of 3)
Distribution Date: 03/20/97
Beginning Seller Principal Balance20,954,264.02
Ending Seller Principal Balance 20,937,347.14
Additional Balances 1,757,601.42
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any purchase of Subsequent Loans or
release to Certs. 0.00%
Ending Funding Account Balance % (after purchase of Subsequent Loans or
release to Certs.) 0.00%
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 $0.00
Beginning Spread Account Balance 2,100,714.00
Ending Spread Account Balance 2,100,714.00
Beginning Seller Interest 2.63%
Ending Seller's Interest 2.70%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts
Trust Balance 1,204
60 - 89 days (Del Stat 2) 41,881,702.99
No. of Accounts 217
Trust Balance 7,902,644.36
90+ (Del Stat 3+)
No. of Accounts 415
Trust Balance 15,012,302.86
270+ (Del Stat 9+)
No. of Accounts 69
Trust Balance 2,528,256.46
REO
No. of Accounts 9
Trust Balance 475,044.93
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
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 1,993,098.60
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
Servicer Certificate (Page 3 of 3)
Distribution Date: 03/20/97
Cumulative Draw under Policy 0.00
Net Yield 6.50%
Total Available Funds
Aggregate Amount of Collections 28,557,300.32
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 28,557,300.32
Application of Available Funds
Servicing Fee 645,249.97
Principal and Interest to Class A-1 21,726,487.77
Seller's portion of Principal and Interest 1,993,098.60
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 4,192,463.98
Total 28,557,300.32
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
Statement to Certificateholders (Page 1 of 1)
Distribution Date: 03/20/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage 97.3651%
Class A Certificateholder Fixed Allocation Percentage 97.3651%
Beginning Class A-1 Certificate Balance 770,098,535.58
Class A-1 Certificate Rate 5.575000%
Class A-1 Certificate Interest Distributed 4.075824
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 22.443243
Maximum Principal Distribution Amount 23.316539
Scheduled Principal Distribution Amount (SPDA) 21.802227
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Distributed 0.641015
Total Amount Distributed to Certificateholders 25.878051
Principal Collections deposited into Funding Account 0.00
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 751,711,280.63
Class A-1 Factor 0.9175289
Pool Factor (PF) 0.9175289
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Loss Amount $0
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount $0
Class A Servicing Fee 645,249.97
Beginning Invested Amount 774,299,962.58
Ending Invested Amount 755,912,707.63
Beginning Pool Balance 795,254,226.60
Ending Pool Balance 776,850,054.77
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts 1,204
Trust Balance 41,881,702.99
60 - 89 days (Del Stat 2)
No. of Accounts 217
Trust Balance 7,902,644.36
90+ (Del Stat 3+)
No. of Accounts 415
Trust Balance 15,012,302.86
REO
No. of Accounts 9
Trust Balance 475,044.93
Aggregate Liquidation Loss Amount for Liquidated Loans 259,269.05
Class A-1 Certificate Rate for Next Distribution Date To be updated
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
Cumulative No. of Accounts 3,249.00
Cumulative Trust Balance 100,781,997.58
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursuant to 2.07 0
Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 0
Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00
