SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report May 17, 1999
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Exact name of registrant as specified in Department of the
Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 33-97296 Not Applicable
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 3
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated May
17, 1999 pursuant to Section 3.04(b) of the
Pooling and Servicing Agreement dated as of
December 1, 1995 (the "Pooling and Servicing
Agreement") among HFC Card Funding
Corporation (as Assignee of Household Card
Funding Corporation), as Transferor,
Household Finance Corporation, as Servicer,
and The Bank of New York, as Trustee, with
respect to the Class A and Class B Credit
Card Participation Certificates, Series 1995-
1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Household Credit Card Master Trust I by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Registrant)
By:
J. W. Blenke
Authorized Representative
Dated: May 24, 1999
- 2 -
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated May
17, 1999 pursuant to Section 3.04(b) of the
Pooling and Servicing Agreement dated as of
December 1, 1995 (the "Pooling and Servicing
Agreement") among HFC Card Funding
Corporation (as Assignee of Household Card
Funding Corporation), as Transferor,
Household Finance Corporation, as Servicer,
and The Bank of New York, as Trustee, with
respect to the Class A and Class B Credit
Card Participation Certificates, Series 1995-
1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Household Credit Card Master Trust I by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD CREDIT CARD MASTER TRUST I
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke, Authorized Representative
Dated: May 24, 1999
- 2 -
<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated May 17, 1999
pursuant to Section 3.04(b) of the Pooling and Servicing
Agreement dated as of December 1, 1995 (the "Pooling and
Servicing Agreement") among HFC Card Funding Corporation (as
Assignee of Household Card Funding Corporation), as
Transferor, Household Finance Corporation, as Servicer, and
The Bank of New York, as Trustee, with respect to the Class
A and Class B Credit Card Participation Certificates, Series
1995-1.
- 3 -
Household Consumer Loan Trust, Series 1995-1 Deposit Trust
Calculations
Previous Due Period Ending
Mar 31, 1999
Current Due Period Ending
Apr 30, 1999
Prior Distribution Date
Apr 14, 1999
Distribution Date
May 14, 1999
Beginning Trust Principal Receivables
4,271,285,936.24
FC&A Collections (Includes Recoveries)
68,863,656.32
Principal Collections
138,530,617.72
Additional Balances
59,687,529.47
Net Principal Collections
78,843,088.25
Defaulted Amount
31,797,083.36
Miscellaneous Payments
0.00
Principal Recoveries
1,278,559.00
Beginning Participation Invested Amount
406,621,821.88
Beginning Participation Unpaid Principal Balance
406,621,821.88
Ending Participation Invested Amount
396,088,996.68
Ending Participation Unpaid Principal Balance
396,088,996.68
Accelerated Amortization Date
Oct 15, 2000
Is it the Accelerated Amortization Period? 0=No
0
OC Balance as % of Ending Participation Invested Amount (3 month
average) 9.521%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)
0=No 0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation
406,621,821.88
Numerator for Fixed Allocation
417,667,605.81
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Applicable Allocation Percentage
9.5199%
Investor FC&A Collections
6,555,745.93
Series Participation Interest Default Amount
Numerator for Floating Allocation
406,621,821.88
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Floating Allocation Percentage
9.5199%
Series Participation Interest Default Amount
3,027,048.10
Principal Allocation Components
Numerator for Floating Allocation
406,621,821.88
Numerator for Fixed Allocation
417,667,605.81
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]
6.2500%
(b) Prime Rate minus 1.50%
6.2500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated
Principal Pmt Amount 5.4174%
(d) Series Participation Interest Unpaid Principal Balance
406,621,821.88
(e) Actual days in the Interest Period
30
Series Participation Monthly Interest, [a*d*e]
2,117,821.99
Series Participation Interest Interest Shortfall
0.00
Previous Series Participation Interest Interest Shortfall
0.00
Additional Interest
0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]
10,532,825.20
(a) Investor Principal Collections, [Max(b,h) or e]
7,505,777.10
(b) prior to Accelerated Amort. Date or not Early Amort. Period,
[c*d] 7,505,777.10
(c) Floating Allocation Percentage
9.5199%
(d) Net Principal Collections
78,843,088.25
(e) after Accelerated Amort Date or Early Amort Period, [f*g]
13,546,213.55
(f) Fixed Allocation Percentage
9.7785%
(g) Collections of Principal
138,530,617.72
(h) Minimum Principal Amount, [Min(i,l)]
4,292,144.69
(i) Floating Allocation Percentage of Principal Collections
13,187,965.64
(j) 1.8% of the Series Participation Interest Invested Amount
7,319,192.79
(k) Series Participation Interest Net Default Payment Amount
3,027,048.10
(l) the excess of (j) over (k)
4,292,144.69
(m) Series Participation Interest Net Default Payment Amount
3,027,048.10
(n) Optional Repurchase Amount (principal only) at Sec. 9
0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]
6,555,745.93
Series Servicing Fee paid if HFC is not the Servicer [Sec.
4.11(a)(i)] 0.00
plus any unpaid Series Servicing Fee of other than HFC
0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]
2,117,821.99
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]
0.00
Additional Interest [Sec. 4.11(a)(ii)]
0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]
3,027,048.10
Reimbursed Series Participation Interest Charge-Offs [Sec.
4.11(a)(iv)] 0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]
677,703.04
Excess [Sec. 4.11(a)(vi)]
733,172.80
Series Participation Investor Charge Off [Sec. 4.12(a)]
0.00
Series 1995-1 Owner Trust Calculations
Due Period Ending Apr 30,
1999
Payment Date May 17,
1999
Calculation of Interest Expense
Index (LIBOR)
4.926250%
Accrual end date, accrual beginning date and days in May 17,
1999 Apr 15, 1999 32
Interest Period
Class A Class B
Certificates Overcoll Amount
Beginning Unpaid Principal Balance
203,223,896.86 150,450,074.10
14,231,763.76 38,716,087.16
Previously unpaid interest/yield
0.00 0.00
0.00
Spread to index
0.24% 0.625%
1.03%
Rate (capped at 13.0%, 15%, 16%)
5.166250% 5.551250%
5.956250%
Interest/Yield Payable on the Principal Balance
933,249.30 742,387.53
75,349.28
Interest on previously unpaid interest/yield
0.00 0.00
0.00
Interest/Yield Due
933,249.30 742,387.53
75,349.28
Interest/Yield Paid
933,249.30 742,387.53
75,349.28
Summary
Beginning Security Balance
203,223,896.86 150,450,074.10
14,231,763.76 38,716,087.16
Beginning Adjusted Balance
203,223,896.86 150,450,074.10
14,231,763.76
Principal Paid
3,897,145.33
368,648.87 1,087,632.48
5,264,111.40
Ending Security Balance
197,959,785.46 146,552,928.77
13,863,114.89 37,713,167.56
Ending Adjusted Balance
197,959,785.46 146,552,928.77
13,863,114.89
Ending Certificate Balance as % Participation
3.5000%
Interest Invested Amount
Targeted Balance
146,552,928.77
13,863,114.89
198,044,498.34
Minimum Adjusted Balance
61,666,666.67
5,833,333.33 15,833,333.33
Certificate Minimum Balance
12,003,080.96
Ending OC Amount as Holdback Amount
37,713,167.55
Ending OC Amount as Accelerated Prin Pmts
0.01
Beginning Net Charge offs
0.00 0.00
0.00 0.00
Reversals
0.00 0.00
0.00 0.00
Charge offs
0.00 0.00
0.00 0.00
Ending Net Charge Offs
0.00 0.00
0.00 0.00
Interest/Yield Paid per $1000
$1.2443324 $4.3112937
$2.4864467
Principal Paid per $1000
$7.0188152 $22.6320317
$12.1650234
Series 1995-1 Owner Trust Calculations
Due Period
April 1999
Payment Date
May 17, 1999
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections
10,532,825.20
(b) Series Participation Interest Charge Offs
0.00
(c) Lesser of Excess Interest and Carryover Charge offs
0.00
Accelerated Principal Payment
84,712.88
Series Participation Interest Monthly Interest
2,117,821.99
Allocation of Optimum Monthly Principal and Series Part. Interest
Monthly Interest
Interest and Yield
Pay Class A Interest Distribution- Sec. 3.05(a)(i)(a)
933,249.30
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(b)
742,387.53
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(c)
75,349.28
Principal up to Optimum Monthly Principal Balance
Pay Class A to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)
5,179,398.52
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 3,897,145.33
3.05(a)(ii)(b)
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(c)
0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj
Bal- Sec. 368,648.87
3.05(a)(iii)
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal-
Sec. 3.05(a)(iv) 1,087,632.48
Principal up to Accelerated Principal Payment Amout
Pay Class A to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(a)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(b)
Pay Class A to zero- Sec. 3.05(a)(v)(c)
84,712.88
Pay Class B to zero- Sec. 3.05(a)(v)(d)
0.00
Principal up to Optimal Monthly Principal
Pay Class A to zero- Sec. 3.05(a)(vi)(a)
0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(b)
0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec.
3.05(a)(vi)(c) 0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(d) 0.00
Remaining Amounts to Holder of Designated Certificate - Sec.
3.05(a)(vii) 282,123.00
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min
Bal- Sec. 1,087,632.48
3.05(a)(iv)
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(d) 0.00
To Designated Certificate Holder up to total Accelerated Principal
Payments 84,712.88
To Designated Certificate Holder up to Holdback Amount
1,002,919.60
To HCLC any remaining amounts
0.00
Household Consumer Loan Trust, Series 1996-1 Deposit Trust
Calculations
Previous Due Period Ending
Mar 31, 1999
Current Due Period Ending
Apr 30, 1999
Prior Distribution Date
Apr 14, 1999
Distribution Date
May 14, 1999
Beginning Trust Principal Receivables
4,271,285,936.24
FC&A Collections (Includes Recoveries)
68,863,656.32
Principal Collections
138,530,617.72
Additional Balances
59,687,529.47
Net Principal Collections
78,843,088.25
Defaulted Amount
31,797,083.36
Miscellaneous Payments
0.00
Principal Recoveries
1,278,559.00
Beginning Participation Invested Amount
381,019,307.10
Beginning Participation Unpaid Principal Balance
381,019,307.10
Ending Participation Invested Amount
371,149,670.15
Ending Participation Unpaid Principal Balance
371,149,670.15
Accelerated Amortization Date
Feb 28, 2001
Is it the Accelerated Amortization Period? 0=No
0
OC Balance as % of Ending Participation Invested Amount (3 month
average) 9.521%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)
0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation
381,019,307.10
Numerator for Fixed Allocation
391,369,604.88
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Applicable Allocation Percentage
8.9205%
Investor FC&A Collections
6,142,970.29
Series Participation Interest Default Amount
Numerator for Floating Allocation
381,019,307.10
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Floating Allocation Percentage
8.9205%
Series Participation Interest Default Amount
2,836,453.20
Principal Allocation Components
Numerator for Floating Allocation
381,019,307.10
Numerator for Fixed Allocation
391,369,604.88
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]
6.2500%
(b) Prime Rate minus 1.50%
6.2500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated
Principal Pmt Amount 5.3877%
(d) Series Participation Interest Unpaid Principal Balance
381,019,307.10
(e) Actual days in the Interest Period
30
Series Participation Monthly Interest, [a*d*e]
1,984,475.56
Series Participation Interest Interest Shortfall
0.00
Previous Series Participation Interest Interest Shortfall
0.00
Additional Interest
0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]
9,869,636.95
(a) Investor Principal Collections, [Max(b,h) or e]
7,033,183.75
(b) prior to Accelerated Amort. Date or not Early Amort. Period,
[c*d] 7,033,183.75
(c) Floating Allocation Percentage
8.9205%
(d) Net Principal Collections
78,843,088.25
(e) after Accelerated Amort Date or Early Amort Period, [f*g]
12,693,290.48
(f) Fixed Allocation Percentage
9.1628%
(g) Collections of Principal
138,530,617.72
(h) Minimum Principal Amount, [Min(i,l)]
4,021,894.33
(i) Floating Allocation Percentage of Principal Collections
12,357,599.27
(j) 1.8% of the Series Participation Interest Invested Amount
6,858,347.53
(k) Series Participation Interest Net Default Payment Amount
2,836,453.20
(l) the excess of (j) over (k)
4,021,894.33
(m) Series Participation Interest Net Default Payment Amount
2,836,453.20
(n) Optional Repurchase Amount (principal only) at Sec. 9
0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]
6,142,970.29
Series Servicing Fee paid if HFC is not the Servicer [Sec.
4.11(a)(i)] 0.00
plus any unpaid Series Servicing Fee of other than HFC
0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]
1,984,475.56
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]
0.00
Additional Interest [Sec. 4.11(a)(ii)]
0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]
2,836,453.20
Reimbursed Series Participation Interest Charge-Offs [Sec.
4.11(a)(iv)] 0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]
635,032.18
Excess [Sec. 4.11(a)(vi)]
687,009.35
Series Participation Investor Charge Off [Sec. 4.12(a)]
0.00
Series 1996-1 Owner Trust Calculations
Due Period Ending Apr 30,
1999
Payment Date May 17,
1999
Calculation of Interest Expense
Index (LIBOR)
4.926250%
Accrual end date, accrual beginning date and days in May 17,
1999 Apr 15, 1999 32
Interest Period
Class A Class B
Certificates Overcoll Amount
Beginning Unpaid Principal Balance
198,048,504.36 133,356,757.49
13,335,675.75 36,278,369.50
Previously unpaid interest/yield
0.00 0.00
0.00
Spread to index
0.22% 0.60%
1.00%
Rate (capped at 13%, 15%, 16%)
5.146250% 5.526250%
5.926250%
Interest/Yield Payable on the Principal Balance
905,961.88 655,078.03
70,249.38
Interest on previously unpaid interest/yield
0.00 0.00
0.00
Interest/Yield Due
905,961.88 655,078.03
70,249.38
Interest/Yield Paid
905,961.88 655,078.03
70,249.38
Summary
Beginning Security Balance
198,048,504.36 133,356,757.49
13,335,675.75 36,278,369.50
Beginning Adjusted Balance
198,048,504.36 133,356,757.49
13,335,675.75
Principal Paid
3,454,372.94
345,437.29 1,019,150.84
5,130,054.90
Ending Security Balance
192,918,449.46 129,902,384.55
12,990,238.46 35,338,597.68
Ending Adjusted Balance
192,918,449.46 129,902,384.55
12,990,238.46
Ending Certificate Balance as % Participation
3.5000%
Interest Invested Amount
Targeted Balance
129,902,384.55
12,990,238.46
192,997,828.48
Minimum Adjusted Balance
49,000,000.00
4,900,000.00 13,300,000.00
Certificate Minimum Balance
11,247,319.60
Ending OC Amount as Holdback Amount
35,338,597.68
Ending OC Amount as Accelerated Prin Pmts
0.00
Beginning Net Charge offs
0.00 0.00
0.00 0.00
Reversals
0.00 0.00
0.00 0.00
Charge offs
0.00 0.00
0.00 0.00
Ending Net Charge Offs
0.00 0.00
0.00 0.00
Interest/Yield Paid per $1000
$1.4191132 $4.8081013
$2.7597088
Principal Paid per $1000
$8.0358003 $25.3541933
$13.5703164
Series 1996-1 Owner Trust Calculations
Due Period
April 1999
Payment Date
May 17, 1999
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections
9,869,636.95
(b) Series Participation Interest Charge Offs
0.00
(c) Lesser of Excess Interest and Carryover Charge offs
0.00
Accelerated Principal Payment
79,379.02
Series Participation Interest Monthly Interest
1,984,475.56
Allocation of Optimum Monthly Principal and Series Part. Interest
Monthly Interest
Interest and Yield
Pay Class A Interest Distribution- Sec. 3.05(a)(i)(a)
905,961.88
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(b)
655,078.03
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(c)
70,249.38
Principal up to Optimum Monthly Principal Balance
Pay Class A to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)
5,050,675.88
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 3,454,372.94
3.05(a)(ii)(b)
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(c)
0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj
Bal- Sec. 345,437.29
3.05(a)(iii)
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal-
Sec. 3.05(a)(iv) 1,019,150.84
Principal up to Accelerated Principal Payment Amout
Pay Class A to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(a)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(b)
Pay Class A to zero- Sec. 3.05(a)(v)(c)
79,379.02
Pay Class B to zero- Sec. 3.05(a)(v)(d)
0.00
Principal up to Optimal Monthly Principal
Pay Class A to zero- Sec. 3.05(a)(vi)(a)
0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(b)
0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec.
3.05(a)(vi)(c) 0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(d) 0.00
Remaining Amounts to Holder of Designated Certificate - Sec.
3.05(a)(vii) 273,807.25
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min
Bal- Sec. 1,019,150.84
3.05(a)(iv)
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi) 0.00
To Designated Certificate Holder up to total Accelerated Principal
Payments 79,379.02
To Designated Certificate Holder up to Holdback Amount
939,771.82
To HCLC any remaining amounts
0.00
Household Consumer Loan Trust, Series 1996-2 Deposit Trust
Calculations
Previous Due Period Ending
Mar 31, 1999
Current Due Period Ending
Apr 30, 1999
Prior Distribution Date
Apr 14, 1999
Distribution Date
May 14, 1999
Beginning Trust Principal Receivables
4,271,285,936.24
FC&A Collections (Includes Recoveries)
68,863,656.32
Principal Collections
138,530,617.72
Additional Balances
59,687,529.47
Net Principal Collections
78,843,088.25
Defaulted Amount
31,797,083.36
Miscellaneous Payments
0.00
Principal Recoveries
1,278,559.00
Beginning Participation Invested Amount
518,971,396.27
Beginning Participation Unpaid Principal Balance
518,971,396.27
Ending Participation Invested Amount
505,528,352.37
Ending Participation Unpaid Principal Balance
505,528,352.37
Accelerated Amortization Date
Jul 31, 2001
Is it the Accelerated Amortization Period? 0=No
0
OC Balance as % of Ending Participation Invested Amount (3 month
average) 8.947%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)
0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation
518,971,396.27
Numerator for Fixed Allocation
533,069,129.35
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Applicable Allocation Percentage
12.1502%
Investor FC&A Collections
8,367,097.97
Series Participation Interest Default Amount
Numerator for Floating Allocation
518,971,396.27
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Floating Allocation Percentage
12.1502%
Series Participation Interest Default Amount
3,863,421.23
Principal Allocation Components
Numerator for Floating Allocation
518,971,396.27
Numerator for Fixed Allocation
533,069,129.35
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]
6.2500%
(b) Prime Rate minus 1.50%
6.2500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated
Principal Pmt Amount 5.3830%
(d) Series Participation Interest Unpaid Principal Balance
518,971,396.27
(e) Actual days in the Interest Period
30
Series Participation Monthly Interest, [a*d*e]
2,702,976.02
Series Participation Interest Interest Shortfall
0.00
Previous Series Participation Interest Interest Shortfall
0.00
Additional Interest
0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]
13,443,043.90
(a) Investor Principal Collections, [Max(b,h) or e]
9,579,622.67
(b) prior to Accelerated Amort. Date or not Early Amort. Period,
[c*d] 9,579,622.67
(c) Floating Allocation Percentage
12.1502%
(d) Net Principal Collections
78,843,088.25
(e) after Accelerated Amort Date or Early Amort Period, [f*g]
17,289,031.19
(f) Fixed Allocation Percentage
12.4803%
(g) Collections of Principal
138,530,617.72
(h) Minimum Principal Amount, [Min(i,l)]
5,478,063.90
(i) Floating Allocation Percentage of Principal Collections
16,831,799.41
(j) 1.8% of the Series Participation Interest Invested Amount
9,341,485.13
(k) Series Participation Interest Net Default Payment Amount
3,863,421.23
(l) the excess of (j) over (k)
5,478,063.90
(m) Series Participation Interest Net Default Payment Amount
3,863,421.23
(n) Optional Repurchase Amount (principal only) at Sec. 9
0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]
8,367,097.97
Series Servicing Fee paid if HFC is not the Servicer [Sec.
4.11(a)(i)] 0.00
plus any unpaid Series Servicing Fee of other than HFC
0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]
2,702,976.02
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]
0.00
Additional Interest [Sec. 4.11(a)(ii)]
0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]
3,863,421.23
Reimbursed Series Participation Interest Charge-Offs [Sec.
4.11(a)(iv)] 0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]
864,952.33
Excess [Sec. 4.11(a)(vi)]
935,748.39
Series Participation Investor Charge Off [Sec. 4.12(a)]
0.00
Series 1996-2 Owner Trust Calculations
Due Period Ending Apr 30,
1999
Payment Date May 17,
1999
Calculation of Interest Expense
Index (LIBOR)
4.926250%
Accrual end date, accrual beginning date and days in May 17,
1999 Apr 15, 1999 32
Interest Period
Class
A-1 Class A-2 Class A-3 Class B
Certificates Overcoll Amount
Beginning Unpaid Principal Balance
269,754,069.99 52,240,000.00 67,900,000.00 49,370,000.00
35,483,701.53 44,223,624.75
Previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Spread to index
0.17% 0.32% 0.42% 0.65%
1.00%
Rate (capped at 13%, 15%, 15%, 15%, 16%)
5.096250% 5.246250% 5.346250% 5.576250%
5.926250%
Interest/Yield Payable on the Principal Balance
1,221,985.94 243,612.53 322,675.89 244,710.63
186,920.25
Interest on previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Interest/Yield Due
1,221,985.94 243,612.53 322,675.89 244,710.63
186,920.25
Interest/Yield Paid
1,221,985.94 243,612.53 322,675.89 244,710.63
186,920.25
Summary
Beginning Security Balance
269,754,069.99 52,240,000.00 67,900,000.00 49,370,000.00
35,483,701.53 44,223,624.75
Beginning Adjusted Balance
269,754,069.99 52,240,000.00 67,900,000.00 49,370,000.00
35,483,701.53
Principal Paid
0.00 0.00 0.00
5,310,002.34 1,253,714.80
6,987,445.80
Ending Security Balance
262,766,624.19 52,240,000.00 67,900,000.00 49,370,000.00
30,173,699.19 43,078,028.99
Ending Adjusted Balance
262,766,624.19 52,240,000.00 67,900,000.00 49,370,000.00
30,173,699.19
Ending Certificate Balance as % Participation
5.9687%
Interest Invested Amount
Targeted Balance
73,162,374.15 56,794,923.33
30,173,699.19
262,874,743.23 54,528,310.20
Minimum Adjusted Balance
18,800,000.00 24,500,000.00 17,800,000.00
7,900,000.00 14,800,000.00
Certificate Minimum Balance
15,319,531.19
Ending OC Amount as Holdback Amount
37,981,306.03
Ending OC Amount as Accelerated Prin Pmts
5,096,722.96
Beginning Net Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Reversals
0.00 0.00 0.00 0.00
0.00 0.00
Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Ending Net Charge Offs
0.00 0.00 0.00 0.00
0.00 0.00
Interest/Yield Paid per $1000
$1.5390251 $4.6633333 $4.7522222 $4.9566666
$5.0675121
Principal Paid per $1000
$8.8003096 $0.0000000 $0.0000000 $0.0000000
$143.9571203
Series 1996-2 Owner Trust Calculations
Due Period
April 1999
Payment Date
May 17, 1999
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections
13,443,043.90
(b) Series Participation Interest Charge Offs
0.00
(c) Lesser of Excess Interest and Carryover Charge offs
0.00
Accelerated Principal Payment
108,119.04
Series Participation Interest Monthly Interest
2,702,976.02
Allocation of Optimum Monthly Principal and Series Part. Interest
Monthly Interest
Interest and Yield
Pay Class A-1 Interest Distribution- Sec. 3.05(a)(i)(a)
1,221,985.94
Pay Class A-2 Interest Distribution- Sec. 3.05(a)(i)(b)
243,612.53
Pay Class A-3 Interest Distribution- Sec. 3.05(a)(i)(c)
322,675.89
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(d)
244,710.63
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(e)
186,920.25
Principal up to Optimum Monthly Principal Balance
Pay Class A-1 to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)
6,879,326.76
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(ii)(d)
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(e)
0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj
Bal- Sec. 5,310,002.34
3.05(a)(iii)
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal-
Sec. 3.05(a)(iv) 1,253,714.80
Principal up to Accelerated Principal Payment Amout
Pay Class A-1 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(a)
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(d)
Pay Class A-1 to zero- Sec. 3.05(a)(v)(e)
108,119.04
Pay Class A-2 to zero- Sec. 3.05(a)(v)(f)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(v)(g)
0.00
Pay Class B to zero- Sec. 3.05(a)(v)(h)
0.00
Principal up to Optimal Monthly Principal
Pay Class A-1 to zero- Sec. 3.05(a)(vi)(a)
0.00
Pay Class A-2 to zero- Sec. 3.05(a)(vi)(b)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(vi)(c)
0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(d)
0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec.
3.05(a)(vi)(e) 0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(f) 0.00
Remaining Amounts to Holder of Designated Certificate - Sec.
3.05(a)(vii) 374,951.74
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min
Bal- Sec. 1,253,714.80
3.05(a)(iv)
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi) 0.00
To Designated Certificate Holder up to total Accelerated Principal
Payments 108,119.04
To Designated Certificate Holder up to Holdback Amount
1,145,595.76
To HCLC any remaining amounts
0.00
Household Consumer Loan Trust, Series 1997-1 Deposit Trust
Calculations
Previous Due Period Ending
Mar 31, 1999
Current Due Period Ending
Apr 30, 1999
Prior Distribution Date
Apr 14, 1999
Distribution Date
May 14, 1999
Beginning Trust Principal Receivables
4,271,285,936.24
FC&A Collections (Includes Recoveries)
68,863,656.32
Principal Collections
138,530,617.72
Additional Balances
59,687,529.47
Net Principal Collections
78,843,088.25
Defaulted Amount
31,797,083.36
Miscellaneous Payments
0.00
Principal Recoveries
1,278,559.00
Beginning Participation Invested Amount
523,598,930.02
Beginning Participation Unpaid Principal Balance
523,598,930.02
Ending Participation Invested Amount
510,036,017.98
Ending Participation Unpaid Principal Balance
510,036,017.98
Accelerated Amortization Date
Feb 28, 2002
Is it the Accelerated Amortization Period? 0=No
0
OC Balance as % of Ending Participation Invested Amount (3 month
average) 9.077%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)
0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation
523,598,930.02
Numerator for Fixed Allocation
537,822,368.94
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Applicable Allocation Percentage
12.2586%
Investor FC&A Collections
8,441,705.22
Series Participation Interest Default Amount
Numerator for Floating Allocation
523,598,930.02
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Floating Allocation Percentage
12.2586%
Series Participation Interest Default Amount
3,897,870.35
Principal Allocation Components
Numerator for Floating Allocation
523,598,930.02
Numerator for Fixed Allocation
537,822,368.94
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]
6.2500%
(b) Prime Rate minus 1.50%
6.2500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated
Principal Pmt Amount 5.2844%
(d) Series Participation Interest Unpaid Principal Balance
523,598,930.02
(e) Actual days in the Interest Period
30
Series Participation Monthly Interest, [a*d*e]
2,727,077.76
Series Participation Interest Interest Shortfall
0.00
Previous Series Participation Interest Interest Shortfall
0.00
Additional Interest
0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]
13,562,912.04
(a) Investor Principal Collections, [Max(b,h) or e]
9,665,041.69
(b) prior to Accelerated Amort. Date or not Early Amort. Period,
[c*d] 9,665,041.69
(c) Floating Allocation Percentage
12.2586%
(d) Net Principal Collections
78,843,088.25
(e) after Accelerated Amort Date or Early Amort Period, [f*g]
17,443,193.01
(f) Fixed Allocation Percentage
12.5916%
(g) Collections of Principal
138,530,617.72
(h) Minimum Principal Amount, [Min(i,l)]
7,621,306.11
(i) Floating Allocation Percentage of Principal Collections
16,981,884.21
(j) 2.2% of the Series Participation Interest Invested Amount
11,519,176.46
(k) Series Participation Interest Net Default Payment Amount
3,897,870.35
(l) the excess of (j) over (k)
7,621,306.11
(m) Series Participation Interest Net Default Payment Amount
3,897,870.35
(n) Optional Repurchase Amount (principal only) at Sec. 9
0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]
8,441,705.22
Series Servicing Fee paid if HFC is not the Servicer [Sec.
4.11(a)(i)] 0.00
plus any unpaid Series Servicing Fee of other than HFC
0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]
2,727,077.76
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]
0.00
Additional Interest [Sec. 4.11(a)(ii)]
0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]
3,897,870.35
Reimbursed Series Participation Interest Charge-Offs [Sec.
4.11(a)(iv)] 0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]
872,664.88
Excess [Sec. 4.11(a)(vi)]
944,092.23
Series Participation Investor Charge Off [Sec. 4.12(a)]
0.00
Series 1997-1 Owner Trust Calculations
Due Period Ending Apr 30,
1999
Payment Date May 17,
1999
Calculation of Interest Expense
Index (LIBOR)
4.926250%
Accrual end date, accrual beginning date and days in May 17,
1999 Apr 15, 1999 32
Interest Period
Class
A-1 Class A-2 Class A-3 Class B
Certificates Overcoll Amount
Beginning Unpaid Principal Balance
285,104,638.87 48,000,000.00 62,400,000.00 45,600,000.00
33,600,000.00 48,894,291.15
Previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Spread to index
0.13% 0.25% 0.35% 0.65%
1.00%
Rate (capped at 12.5%, 14%, 14%, 14%, 15%)
5.051250% 5.176250% 5.276250% 5.576250%
5.926250%
Interest/Yield Payable on the Principal Balance
1,280,119.83 220,853.33 292,656.00 226,024.00
176,997.33
Interest on previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Interest/Yield Due
1,280,119.83 220,853.33 292,656.00 226,024.00
176,997.33
Interest/Yield Paid
1,280,119.83 220,853.33 292,656.00 226,024.00
176,997.33
Summary
Beginning Security Balance
285,104,638.87 48,000,000.00 62,400,000.00 45,600,000.00
33,600,000.00 48,894,291.15
Beginning Adjusted Balance
285,104,638.87 48,000,000.00 62,400,000.00 45,600,000.00
33,600,000.00
Principal Paid
0.00 0.00 0.00
0.00 0.00
13,671,995.15
Ending Security Balance
271,432,643.72 48,000,000.00 62,400,000.00 45,600,000.00
33,600,000.00 49,003,374.26
Ending Adjusted Balance
271,432,643.72 48,000,000.00 62,400,000.00 45,600,000.00
33,600,000.00
Ending Certificate Balance as % Participation
6.5878%
Interest Invested Amount
Targeted Balance
62,985,286.66 49,038,708.36
39,141,229.62
265,218,729.35 44,680,604.32
Minimum Adjusted Balance
16,000,000.00 20,800,000.00 15,200,000.00
11,200,000.00 13,600,000.00
Certificate Minimum Balance
5,151,873.82
Ending OC Amount as Holdback Amount
40,800,000.00
Ending OC Amount as Accelerated Prin Pmts
8,203,374.26
Beginning Net Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Reversals
0.00 0.00 0.00 0.00
0.00 0.00
Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Ending Net Charge Offs
0.00 0.00 0.00 0.00
0.00 0.00
Interest/Yield Paid per $1000
$1.7545502 $4.6011110 $4.6900000 $4.9566667
$5.2677777
Principal Paid per $1000
$18.7390284 $0.0000000 $0.0000000 $0.0000000
$0.0000000
Series 1997-1 Owner Trust Calculations
Due Period
April 1999
Payment Date
May 17, 1999
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections
13,562,912.04
(b) Series Participation Interest Charge Offs
0.00
(c) Lesser of Excess Interest and Carryover Charge offs
0.00
Accelerated Principal Payment
109,083.11
Series Participation Interest Monthly Interest
2,727,077.76
Allocation of Optimum Monthly Principal and Series Part. Interest
Monthly Interest
Interest and Yield
Pay Class A-1 Interest Distribution- Sec. 3.05(a)(i)(a)
1,280,119.83
Pay Class A-2 Interest Distribution- Sec. 3.05(a)(i)(b)
220,853.33
Pay Class A-3 Interest Distribution- Sec. 3.05(a)(i)(c)
292,656.00
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(d)
226,024.00
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(e)
176,997.33
Principal up to Optimum Monthly Principal Balance
Pay Class A-1 to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)
13,562,912.04
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(ii)(d)
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(e)
0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(iii)
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal-
Sec. 3.05(a)(iv) 0.00
Principal up to Accelerated Principal Payment Amout
Pay Class A-1 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 109,083.11
3.05(a)(v)(a)
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(d)
Pay Class A-1 to zero- Sec. 3.05(a)(v)(e)
0.00
Pay Class A-2 to zero- Sec. 3.05(a)(v)(f)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(v)(g)
0.00
Pay Class B to zero- Sec. 3.05(a)(v)(h)
0.00
Principal up to Optimal Monthly Principal
Pay Class A-1 to zero- Sec. 3.05(a)(vi)(a)
0.00
Pay Class A-2 to zero- Sec. 3.05(a)(vi)(b)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(vi)(c)
0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(d)
0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec.
3.05(a)(vi)(e) 0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(f) 0.00
Remaining Amounts to Holder of Designated Certificate - Sec.
3.05(a)(vii) 421,344.16
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min
Bal- Sec. 0.00
3.05(a)(iv)
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi) 0.00
To Designated Certificate Holder up to total Accelerated Principal
Payments 0.00
To Designated Certificate Holder up to Holdback Amount
0.00
To HCLC any remaining amounts
0.00
Household Consumer Loan Trust, Series 1997-2 Deposit Trust
Calculations
Previous Due Period Ending
Mar 31, 1999
Current Due Period Ending
Apr 30, 1999
Prior Distribution Date
Apr 14, 1999
Distribution Date
May 14, 1999
Beginning Trust Principal Receivables
4,271,285,936.24
FC&A Collections (Includes Recoveries)
68,863,656.32
Principal Collections
138,530,617.72
Additional Balances
59,687,529.47
Net Principal Collections
78,843,088.25
Defaulted Amount
31,797,083.36
Miscellaneous Payments
0.00
Principal Recoveries
1,278,559.00
Beginning Participation Invested Amount
772,724,061.24
Beginning Participation Unpaid Principal Balance
772,724,061.24
Ending Participation Invested Amount
752,707,999.57
Ending Participation Unpaid Principal Balance
752,707,999.56
Accelerated Amortization Date
Oct 31, 2002
Is it the Accelerated Amortization Period? 0=No
0
OC Balance as % of Ending Participation Invested Amount (3 month
average) 8.493%
Is it Early Amortization? (No, if 3 month OC Average >or=4.25%)
0=NO, 1=YES 0
Investor Finance Charges and Administrative Collections
Numerator for Floating Allocation
772,724,061.24
Numerator for Fixed Allocation
793,714,924.39
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Applicable Allocation Percentage
18.0911%
Investor FC&A Collections
12,458,216.33
Series Participation Interest Default Amount
Numerator for Floating Allocation
772,724,061.24
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Floating Allocation Percentage
18.0911%
Series Participation Interest Default Amount
5,752,452.95
Principal Allocation Components
Numerator for Floating Allocation
772,724,061.24
Numerator for Fixed Allocation
793,714,924.39
Denominator - Max(Sum of Numerators, Principal Receivables)
4,271,285,936.24
Series Participation Interest Monthly Interest
(a) Series Participation Interest Pass Through Rate, [Max(b,c)]
6.2500%
(b) Prime Rate minus 1.50%
6.2500%
(c) Rate Sufficient to Cover Interest, Yield and Accelerated
Principal Pmt Amount 5.3398%
(d) Series Participation Interest Unpaid Principal Balance
772,724,061.24
(e) Actual days in the Interest Period
30
Series Participation Monthly Interest, [a*d*e]
4,024,604.49
Series Participation Interest Interest Shortfall
0.00
Previous Series Participation Interest Interest Shortfall
0.00
Additional Interest
0.00
Series Participation Interest Monthly Principal
Available Investor Principal Collections, [a+m+n]
20,016,061.68
(a) Investor Principal Collections, [Max(b,h) or e]
14,263,608.73
(b) prior to Accelerated Amort. Date or not Early Amort. Period,
[c*d] 14,263,608.73
(c) Floating Allocation Percentage
18.0911%
(d) Net Principal Collections
78,843,088.25
(e) after Accelerated Amort Date or Early Amort Period, [f*g]
25,742,556.32
(f) Fixed Allocation Percentage
18.5826%
(g) Collections of Principal
138,530,617.72
(h) Minimum Principal Amount, [Min(i,l)]
11,247,476.40
(i) Floating Allocation Percentage of Principal Collections
25,061,759.65
(j) 2.5% or 2.2% of the Series Participation Interest Invested
Amount 16,999,929.35
(k) Series Participation Interest Net Default Payment Amount
5,752,452.95
(l) the excess of (j) over (k)
11,247,476.40
(m) Series Participation Interest Net Default Payment Amount
5,752,452.95
(n) Optional Repurchase Amount (principal only) at Sec. 9
0.00
Application of Investor Finance Charges and Admin Collections
Investor Finance Charges and Admin. Collections [Sec. 4.11(a)]
12,458,216.33
Series Servicing Fee paid if HFC is not the Servicer [Sec.
4.11(a)(i)] 0.00
plus any unpaid Series Servicing Fee of other than HFC
0.00
Series Participation Interest Monthly Interest [Sec. 4.11(a)(ii)]
4,024,604.49
Series Participation Interest Interest Shorfall [Sec. 4.11(a)(ii)]
0.00
Additional Interest [Sec. 4.11(a)(ii)]
0.00
Series Participation Interest Default Amount [Sec. 4.11(a)(iii)]
5,752,452.95
Reimbursed Series Participation Interest Charge-Offs [Sec.
4.11(a)(iv)] 0.00
Servicing Fee Paid [Sec. 4.11(a)(v)]
1,287,873.44
Excess [Sec. 4.11(a)(vi)]
1,393,285.45
Series Participation Investor Charge Off [Sec. 4.12(a)]
0.00
Series 1997-2 Owner Trust Calculations
Due Period Ending Apr 30,
1999
Payment Date May 17,
1999
Calculation of Interest Expense
Index (LIBOR)
4.926250%
Accrual end date, accrual beginning date and days in May 17,
1999 Apr 15, 1999 32
Interest Period
Class
A-1 Class A-2 Class A-3 Class B
Certificates Overcoll Amount
Beginning Unpaid Principal Balance
468,187,463.70 48,000,000.00 90,000,000.00 57,000,000.00
42,000,000.00 67,536,597.54
Previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Spread to index
0.18% 0.29% 0.40% 0.65%
1.00%
Rate (capped at 12.5%, 14%, 14%, 14%, 15%)
5.106250% 5.216250% 5.326250% 5.576250%
5.926250%
Interest/Yield Payable on the Principal Balance
2,125,050.88 222,560.00 426,100.00 282,530.00
221,246.67
Interest on previously unpaid interest/yield
0.00 0.00 0.00 0.00
0.00
Interest/Yield Due
2,125,050.88 222,560.00 426,100.00 282,530.00
221,246.67
Interest/Yield Paid
2,125,050.88 222,560.00 426,100.00 282,530.00
221,246.67
Summary
Beginning Security Balance
468,187,463.70 48,000,000.00 90,000,000.00 57,000,000.00
42,000,000.00 67,536,597.54
Beginning Adjusted Balance
468,187,463.70 48,000,000.00 90,000,000.00 57,000,000.00
42,000,000.00
Principal Paid
0.00 0.00 0.00
0.00 0.00
20,177,045.86
Ending Security Balance
448,010,417.84 48,000,000.00 90,000,000.00 57,000,000.00
42,000,000.00 67,697,581.73
Ending Adjusted Balance
448,010,417.84 48,000,000.00 90,000,000.00 57,000,000.00
42,000,000.00
Ending Certificate Balance as % Participation
5.5799%
Interest Invested Amount
Targeted Balance
75,886,677.66 49,866,857.62
45,556,417.59
391,408,159.78 26,034,637.71
Minimum Adjusted Balance
16,000,000.00 30,000,000.00 19,000,000.00
14,000,000.00 17,000,000.00
Certificate Minimum Balance
7,603,103.50
Ending OC Amount as Holdback Amount
51,000,000.00
Ending OC Amount as Accelerated Prin Pmts
16,697,581.73
Beginning Net Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Reversals
0.00 0.00 0.00 0.00
0.00 0.00
Charge offs
0.00 0.00 0.00 0.00
0.00 0.00
Ending Net Charge Offs
0.00 0.00 0.00 0.00
0.00 0.00
Interest/Yield Paid per $1000
$2.3300996 $4.6366667 $4.7344444 $4.9566667
$5.2677779
Principal Paid per $1000
$22.1239538 $0.0000000 $0.0000000 $0.0000000
$0.0000000
Series 1997-2 Owner Trust Calculations
Due Period
April 1999
Payment Date
May 17, 1999
Optimum Monthly Principal [a+b+c]
(a) Available Investor Principal Collections
20,016,061.68
(b) Series Participation Interest Charge Offs
0.00
(c) Lesser of Excess Interest and Carryover Charge offs
0.00
Accelerated Principal Payment
160,984.18
Series Participation Interest Monthly Interest
4,024,604.49
Allocation of Optimum Monthly Principal and Series Part. Interest
Monthly Interest
Interest and Yield
Pay Class A-1 Interest Distribution- Sec. 3.05(a)(i)(a)
2,125,050.88
Pay Class A-2 Interest Distribution- Sec. 3.05(a)(i)(b)
222,560.00
Pay Class A-3 Interest Distribution- Sec. 3.05(a)(i)(c)
426,100.00
Pay Class B Interest Distribution- Sec. 3.05(a)(i)(d)
282,530.00
Pay Certificates the Certificate Yield- Sec. 3.05(a)(i)(e)
221,246.67
Principal up to Optimum Monthly Principal Balance
Pay Class A-1 to Targeted Principal Balance- Sec. 3.05(a)(ii)(a)
20,016,061.68
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(ii)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(ii)(d)
Pay Certificate Yield if not paid pursuant to Sec. 3.05 (a)(i)(e)
0.00
Principal up to Optimal Monthly Principal
Pay Certificate to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(iii)
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min Bal-
Sec. 3.05(a)(iv) 0.00
Principal up to Accelerated Principal Payment Amout
Pay Class A-1 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 160,984.18
3.05(a)(v)(a)
Pay Class A-2 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(b)
Pay Class A-3 to Targeted Principal Balance subject to Min Adj
Bal- Sec. 0.00
3.05(a)(v)(c)
Pay Class B to Targeted Principal Balance subject to Min Adj Bal-
Sec. 0.00
3.05(a)(v)(d)
Pay Class A-1 to zero- Sec. 3.05(a)(v)(e)
0.00
Pay Class A-2 to zero- Sec. 3.05(a)(v)(f)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(v)(g)
0.00
Pay Class B to zero- Sec. 3.05(a)(v)(h)
0.00
Principal up to Optimal Monthly Principal
Pay Class A-1 to zero- Sec. 3.05(a)(vi)(a)
0.00
Pay Class A-2 to zero- Sec. 3.05(a)(vi)(b)
0.00
Pay Class A-3 to zero- Sec. 3.05(a)(vi)(c)
0.00
Pay Class B to zero- Sec. 3.05(a)(vi)(d)
0.00
Pay Certificates up to Certificate Minimum Balance or zero- Sec.
3.05(a)(vi)(e) 0.00
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi)(f) 0.00
Remaining Amounts to Holder of Designated Certificate - Sec.
3.05(a)(vii) 586,132.76
Allocations of Distributions to Overcollateralization Amount
Available Distributions
Pay OC Remaining Optimal Monthly Prin Amt subject to OC Min
Bal- Sec. 0.00
3.05(a)(iv)
Pay HCLC Optimum Monthly Principal provided OC >0- Sec.
3.05(a)(vi) 0.00
To Designated Certificate Holder up to total Accelerated Principal
Payments 0.00
To Designated Certificate Holder up to Holdback Amount
0.00
To HCLC any remaining amounts
0.00
