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Previous: CITIZENS COMMUNITY BANCORP INC, 10KSB, 1998-03-27 |
Next: EAI SELECT MANAGERS EQUITY FUND, 24F-2NT, 1998-03-27 |
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 March 20, 1998
REVOLVING HOME EQUITY LOAN TRUST 1995-2
(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 0-20695 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 <PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
March 20, 1998 pursuant to Section 3.04(b) of
the Pooling and Servicing Agreement dated as
of November 1, 1995 (the "Pooling and
Servicing Agreement") among HFC Revolving
Corporation, as Seller, Household Finance
Corporation, as Servicer, and First National
Bank of Chicago, as Trustee, with respect to
the Class A Certificates, Series 1995-2.
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 Revolving Home Equity Loan Trust 1995-2 by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
REVOLVING HOME EQUITY LOAN TRUST 1995-2
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: March 23, 1998
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
4
99(a) Monthly Servicing Report to Trustee dated March 20, 1998
pursuant to Section 3.04(b) of the Pooling and Servicing
Agreement dated as of November 1, 1995 (the "Pooling and
Servicing Agreement") among HFC Revolving Corporation, as
Seller, Household Finance Corporation, as Servicer, and
First National Bank of Chicago, as Trustee, with respect to
the Class A Certificates, Series 1995-2.
- 3 -
HE95-2.8k
*****************************************************************
***************************
Household Finance Corporation
Household Revolving Home Equity Loan
Revolving Home Equity Loan Asset Backed Certificates - Series
1995-2
P & S Agreement Date: Nov 1, 1995
Original Settlement Date: Nov 21, 1995
Series Number of Class A-1 Certificates: 441919AG2
Series Number of Class A-2 Certificates: N/A
Original Sale Balance: $637,660,000
*****************************************************************
***************************
Servicer Certificate (Page 1 of 3)
Distribution Date:
03/20/98
Investor Certificateholder Floating Allocation Percentage
96.33%
Investor Certificateholder Fixed Allocation Percentage
97.90%
Aggregate Amount of Collections
16,169,686.73
Aggregate Amount of Interest Collections
4,210,106.58
Aggregate Amount of Principal Collections
11,959,580.15
Int. Collections Alloc. to Investor
4,055,793.54
Class A Principal Collections
11,009,618.66
Seller Interest Collections
154,313.04
Seller Principal Collections
949,961.49
Weighted Average Loan Rate
13.78%
Net Loan Rate
12.78%
Weighted Average Maximum Loan Rate
18.86%
Class A-1 Certificate Rate
5.8750%
Maximum Investor Certificate Rate
12.9500%
Class A-1 Certificate Interest Distributed
1,503,134.55
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)
11,708,428.97
Alternative Principal Dist. Amount (APDA)
11,009,618.66
Rapid Amortization Period? (Y=1, N=0)
0.00
Scheduled Principal Distribution Amount (SPDA)
11,009,618.66
Principal allocable to Class A-1
11,009,618.66
SPDA deposited to Funding Account
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 579,402.53
Cumulative Investor Liquidation Loss Amount
579,402.53
Total Principal allocable to A-1
11,589,021.19
Beginning Class A-1 Certificate Principal Balance
328,953,457.71
Ending Class A-1 Certificate Principal Balance
317,364,436.52
Pool Factor (PF)
0.4977017
Retransfer Deposit Amount
0.00
Servicing Fees Distributed
276,839.02
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
Aggregate Investor Liquidation Loss Amount
579,402.53
Servicer Certificate (Page 2 of 3)
Distribution Date:
03/20/98
Investor Loss Reduction Amount
0.00
Beginning Pool Balance
344,846,415.61
Ending Pool Balance
333,234,871.92
Beginning Invested Amount
332,206,826.71
Ending Invested Amount
320,617,805.52
Beginning Seller Principal Balance
12,639,588.90
Ending Seller Principal Balance
12,617,066.40
Additional Balances
949,961.49
Beginning Funding Account Balance
0.00
Ending Funding Account Balance
0.00
Ending Funding Account Balance % (before any purchase of
Subsequent Loans or re 0.00%
Ending Funding Account Balance % (after purchase of Subsequent
Loans or release 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
Beginning Pre-Funding Account Balance
0.00
Ending Pre-Funding Account Balance
0.00
Pre-Funding Earnings
0.00
Beginning Capitalized Interest Account
0.00
Capital Interest Requirement (Transferred to Collection Account)
0.00
Ending Capitalized Interest Account
0.00
Beginning Spread Account Balance
6,506,737.00
Ending Spread Account Balance
6,506,737.00
Beginning Seller Interest
3.6653%
Ending Seller's Interest
3.7862%
Delinquency & REO Status
60 - 89 days (Del Stat 2)
No. of Accounts
227
Trust Balance
8,084,828.14
90+ days (Del Stat 3+)
No. of Accounts
493
Trust Balance
15,733,598.49
270+ days (Del Stat 9+)
No. of Accounts
213
Trust Balance
7,523,672.97
REO
No. of Accounts
53
Trust Balance
2,400,812.30
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 Balanc 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 Interes No
Failure by Servicer to perform other covenants as described in
the Agreement No
Bankruptcy, Insolvency or Receivership relating to Master
Servicer ? No
Servicer Certificate (Page 3 of 3)
Distribution Date:
03/20/98
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
1,104,274.53
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
5.01%
Total Available Funds
Aggregate Amount of Collections
16,169,686.73
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
16,169,686.73
Application of Available Funds
Servicing Fee
276,839.02
Prinicpal and Interest to Class A-1
13,092,155.74
Seller's portion of Principal and Interest
1,104,274.53
Funds deposited into Funding Account (Net)
0.00
Funds deposited into Spread Account
0.00
Excess funds released to Seller
1,696,417.44
Total
16,169,686.73
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
<PAGE>
Statement to Certificateholders (Page 1 of 1)
Distribution Date:
03/20/98
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage
96.3347%
Class A Certificateholder Fixed Allocation Percentage
97.9000%
Beginning Class A-1 Certificate Balance
328,953,457.71
Class A-1 Certificate Rate
5.875000%
Class A-1 Certificate Interest Distributed
2.357266
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
18.174295
Maximum Principal Distribution Amount
18.361555
Scheduled Principal Distribution Amount (SPDA)
17.265657
Accelerated Principal Distribution Amount
0.000000
Aggregate Investor Liquidation Loss Amount Distributed
0.908639
Total Amount Distributed to Certificateholders
19.622923
Principal Collections deposited into Funding Account
0.00
Ending Funding Account Balance
0.00
Ending Class A-1 Certificate Balance
317,364,436.52
Class A-1 Factor
0.4977017
Pool Factor (PF)
0.4977017
Unreimbursed Liquidation Loss Amount
$0.00
Accrued Interest on Unreimbursed Liquidation Loss Amount
$0.00
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount
$0.00
Class A Servicing Fee
276,839.02
Beginning Invested Amount
332,206,826.71
Ending Invested Amount
320,617,805.52
Beginning Pool Balance
344,846,415.61
Ending Pool Balance
333,234,871.92
Spread Account Draw Amount
0.00
Credit Enhancement Draw Amount
0.00
DELINQUENCY & REO STATUS
60 - 89 days (Del Stat 2)
No. of Accounts
227
Trust Balance
8,084,828.14
90+ days (Del Stat 3+)
No. of Accounts
493
Trust Balance
15,733,598.49
REO
No. of Accounts
53
Trust Balance
2,400,812.30
Aggregate Liquidation Loss Amount for Liquidated Loans
306,529.38
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
Pre-Funded Amount (Ending)
0.00
Subsequent Pre-Funding Mortgage Loans
No. of Accounts
0
Trust Balance
0.00
Capitalized Interest Account (Ending)
0.00
Earnings on the Pre-Funding Account
0.00
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