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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: 441919AJ6
Series Number of Class A-2 Certificates: N/A
Original Sale Balance: $819,278,000
Servicer Certificate (Page 1 of 3)
<S> <C>
09/20/2000
Investor Certificateholder Floating Allocation 90.18%
Percentage
Investor Certificateholder Fixed Allocation Percentage 97.37%
Aggregate Amount of Collections 7,239,525.14
Aggregate Amount of Interest Collections 2,397,289.50
Aggregate Amount of Principal Collections 4,842,235.64
Class A Interest Collections 2,161,834.09
Class A Principal Collections 4,547,551.42
Seller Interest Collections 235,455.41
Seller Principal Collections 294,684.22
Weighted Average Loan Rate 14.00%
Net Loan Rate 13.00%
Weighted Average Maximum Loan Rate 18.81%
Class A-1 Certificate Rate 6.8200%
Maximum Investor Certificate Rate 12.9987%
Class A-1 Certificate Interest Distributed 1,000,692.36
Class A-1 Investor Certificate Interest Shortfall 0.00
before Draw
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Received
Unpaid Class A-1 Certificate Interest Shortfall 0.00
Remaining
Unpaid Class A-1 Carryover Interest Amount 0.00
Maximum Principal Dist. Amount (MPDA) 4,714,647.57
Alternative Principal Dist. Amount (APDA) 4,547,551.42
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 4,547,551.42
Principal allocable to Class A-1 4,547,551.42
SPDA deposited to Funding Account 0.00
Subsequent Funding Mortgage Loans Purchased in Period 0.00
Cumulative Subsequent Funding Mortgage Loans Purchased 100,781,997.5
8
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 289,428.87
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Cumulative Investor Liquidation Loss Amount 289,428.87
Total Principal allocable to A-1 4,836,980.29
Beginning Class A-1 Certificate Principal Balance 176,074,901.7
0
Ending Class A-1 Certificate Principal Balance 171,237,921.4
1
Pool Factor (PF) 0.2090108
Servicer Certificate (Page 2 of 3)
Distribution Date: 09/20/2000
Retransfer Deposit Amount (non 2.07 transfers) 0.00
Servicing Fees Distributed 150,230.27
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 0
2.07
Cumulative Number of Mortgage Loans Retransferred 0
pursuant to 2.07
Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00
Cumulative Mortgage Loans Retransferred pursuant to 0.00
2.07 ($)
Aggregate Investor Liquidation Loss Amount 289,428.87
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 199,911,062.1
6
Ending Pool Balance 195,042,503.3
0
Beginning Invested Amount 180,276,328.7
0
Ending Invested Amount 175,439,348.4
1
Beginning Seller Principal Balance 19,634,733.46
Ending Seller Principal Balance 19,603,154.89
Additional Balances 294,684.22
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any purchase 0.00%
of Subsequent Loans or release to Certs.)
Ending Funding Account Balance % (after purchase of 0.00%
Subsequent Loans or release to Certs.)
Principal Balance of Subsequent Funding Loans $0.00
Purchased in Period
Principal Collections to purchase Additional Balances $0.00
and/or paid to Cert.
Excess Funding Amount $0.00
Beginning Spread Account Balance 2,100,714.00
Ending Spread Account Balance 2,100,714.00
Beginning Seller Interest 9.82%
Ending Seller's Interest 10.05%
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Delinquency & REO Status
30 - 59 days (Del Stat 3)
No. of Accounts
Trust Balance 511
60 - 89 days (Del Stat 4) 16,877,793.94
No. of Accounts 154
Trust Balance 5,169,729.36
90+ (Del Stat 5+)
No. of Accounts 210
Trust Balance 5,795,548.71
270+ (Del Stat 11+)
No. of Accounts 119
Trust Balance 3,367,354.57
REO
No. of Accounts 33
Trust Balance 939,705.70
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days of No
Required Date ?
Failure to perform covenant relating to Trust's No
Security Interest ?
Failure to perform other covenants as described in No
the Agreement ?
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relating to No
Seller ?
Subject to Investment Company Act of 1940 No
Regulation ?
Servicing Termination ? No
Aggregate of Credit Enhancement Draw Amounts exceed No
1% of the Cut-off Balance and Pre-Funded Amount
Servicer Certificate (Page 3 of 3)
Distribution Date: 09/20/2000
Event of Default ? No
Failure by Servicer to make payment within 5 Bus. No
Days of Required Date ?
Failure by Servicer to perform covenant relating to No
Trust's Security Interest ?
Failure by Servicer to perform other covenants as No
described in the Agreement?
Bankruptcy, Insolvency or Receivership relating to No
Master Servicer ?
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid N/A
directly from HFC)
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 530,139.63
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 4.80%
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Total Available Funds
Aggregate Amount of Collections 7,239,525.14
Deposit for principal not used to purchase 0.00
subsequent loans
Interest Earnings on the Pre-Funding Account 0.00
Deposit from Capitalized Interest Account 0.00
Total 7,239,525.14
Application of Available Funds
Servicing Fee 150,230.27
Prinicpal and Interest to Class A-1 5,837,672.65
Seller's portion of Principal and Interest 530,139.63
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 721,482.59
Total 7,239,525.14
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
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Statement to Certificateholders (Page 1 of 2)
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Distribution Date: 09/20/2000
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation 90.1783%
Percentage
Class A Certificateholder Fixed Allocation Percentage 97.3651%
Beginning Class A-1 Certificate Balance 176,074,901.7
0
Class A-1 Certificate Rate 6.820000%
Class A-1 Certificate Interest Distributed 1.221432
Class A-1 Certificate Interest Shortfall Distributed 0.000000
Remaining Unpaid Class A-1 Certificate Interest 0.000000
Shortfall
Rapid Amortization Event ? No
Class A-1 Certificate Principal Distributed 5.903955
Maximum Principal Distribution Amount 5.754637
Scheduled Principal Distribution Amount (SPDA) 5.550682
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount 0.353273
Distributed
Total Amount Distributed to Certificateholders 7.125387
Principal Collections deposited into Funding Account 0.00
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 171,237,921.4
1
Class A-1 Factor 0.2090108
Pool Factor (PF) 0.2090108
Unreimbursed Liquidation Loss Amount $0
Accrued Interest on Unreimbursed Liquidation Loss $0
Amount
Accrued & Unpaid Interest on Unreimbursed Liquidation $0
Loss Amount
Class A Servicing Fee 150,230.27
Beginning Invested Amount 180,276,328.7
0
Ending Invested Amount 175,439,348.4
1
Beginning Pool Balance 199,911,062.1
6
Ending Pool Balance 195,042,503.3
0
Spread Account Draw Amount 0.00
Credit Enhancement Draw Amount 0.00
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Statement to Certificateholders (Page 2 of 2)
Distribution Date: 09/20/2000
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 3)
No. of Accounts 511
Trust Balance 16,877,793.94
60 - 89 days (Del Stat 4)
No. of Accounts 154
Trust Balance 5,169,729.36
90+ (Del Stat 5+)
No. of Accounts 210
Trust Balance 5,795,548.71
REO
No. of Accounts 33
Trust Balance 939,705.70
Aggregate Liquidation Loss Amount for Liquidated Loans 320,951.91
Class A-1 Certificate Rate for Next Distribution Date To be updated
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
Cumulative No. of Accounts 3,249.00
Cumulative Trust Balance 100,781,997.5
8
Retransferred Mortgage Loans pursuant to 2.07
Number of Mortgage Loans Retransferred pursuant to 0
2.07
Cumulative Number of Mortgage Loans Retransferred 0
pursuant to 2.07
Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00
Cumulative Mortgage Loans Retransferred pursuant 0.00
to 2.07 ($)
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