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 June 12, 1998
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
(Exact name of registrant as specified in its charter)
HOUSEHOLD FINANCE CORPORATION
(Administrator of the Trust)
(Exact name as specified in Administrator's charter)
To be
Delaware 0-21981 Applied For
(State or other juris- (Commission File Numbers) (IRS Employer
diction of incorpora- Identification
tion of Administrator) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Administrator)
Administrator's telephone number, including area code 847/564-5000
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99 Statement to Series 1996-2 Participants with respect to the
distribution on June 12, 1998 as provided for under Article V
of the Pooling and Servicing Agreement dated as of September
1, 1995 among Household Finance Corporation, as Servicer and
The Chase Manhattan Bank, N.A., as Deposit Trustee and Section
5 of the Series 1996-2 Supplement to the Pooling and Servicing
Agreement, (b) Noteholders with respect to the Payment Date on
June 15, 1998 as provided for under Section 3.23 of the
Indenture dated as of August 1, 1996 between Household
Consumer Loan Trust 1996-2 and The Bank of New York, as
Indenture Trustee, and (c) Certificateholders with respect to
the Payment Date on June 15, 1998 as provided for under
Section 5.04 of the Trust Agreement dated as of August 1, 1996
between Household Consumer Loan Corporation and The Chase
Manhattan Bank Delaware, as Owner Trustee.
-2-
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Administrator has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Administrator of and on behalf of the
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: June 25, 1998
-3-<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
5
99 Statement to Series 1996-2 Participants with respect to the
distribution on June 12, 1998 as provided for under Article V
of the Pooling and Servicing Agreement dated as of September
1, 1995 among Household Finance Corporation, as Servicer and
The Chase Manhattan Bank, N.A., as Deposit Trustee and Section
5 of the Series 1996-2 Supplement to the Pooling and Servicing
Agreement, (b) Noteholders with respect to the Payment Date on
June 15, 1998 as provided for under Section 3.23 of the
Indenture dated as of August 1, 1996 between Household
Consumer Loan Trust 1996-2 and The Bank of New York, as
Indenture Trustee, and (c) Certificateholders with respect to
the Payment Date on June 15, 1998 as provided for under
Section 5.04 of the Trust Agreement dated as of August 1, 1996
between Household Consumer Loan Corporation and The Chase
Manhattan Bank Delaware, as Owner Trustee.
U:\WP\HFS088\8K\HCLT96-2.8K
-4-
Household Consumer Loan Deposit Trust
Collateral Report
Number of Due Periods Since Inception 32
Due Period 01-May-98
Distribution Date 12-Jun-98
Payment Date 15-Jun-98
*** Trust Portfolio Summary ***
Annualized Cash Yield 18.94%
Annualized Gross Losses -9.45%
Annualized Portfolio Yield 9.50%
Contractual Delinquency Status of Credit Lines: (Principal / Principal)
30 - 59 days ($) 223016806.33
30 - 59 days (%) 5.65%
60 - 89 days ($) 76149874.46
60 - 89 days (%) 1.93%
90 - 119 days ($) 50614903.41
90 - 119 days (%) 1.28%
120 - 149 days ($) 42680405.13
120 - 149 days (%) 1.08%
150 - 179 days ($) 39092405.21
150 - 179 days (%) 0.99%
180 - 209 days ($) 38063387.03
180 - 209 days (%) 0.96%
210 - 239 days ($) 36328954.23
210 - 239 days (%) 0.92%
240 - 269 days ($) 37019187.88
240 - 269 days (%) 0.94%
270 - 299 days ($) 35066733.49
270 - 299 days (%) 0.89%
300+ days ($) 5407019.46
300+ days (%) 0.14%
Addtl Bal on Existing Credit Lines (draws-prin only) 56,787,424.29
Principal Collections 131,024,181.83
Defaulted Receivables 31,917,157.23
Finance Charge & Administrative Collections 62,827,485.67
Recoveries 1,164,339.00
Average Principal Balance 4,053,453,391.15
Personal Homeowner Lines as % of Total Principal 30.47%
<PAGE>
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1996-2
No. of PMTs Since Issuance: 22
Distribution Date: 06/12/98
Payment Date: 06/15/98
Collection Period Beginning: 05/01/98
Collection Period Ending: 05/31/98
Note and Certificate Accrual Beginning: 05/15/98
Note and Certificate Accrual Ending: 06/15/98
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation Invested Amount 6.97%
OC Balance as % of Ending Participation Invested Amount 7.18%
OC Balance as % of Ending Participation Invested Amt (3 mo avg) 6.78%
Does Early Amortization Start Based on OC/Part Inv Amt Test ---
Is the MAP Over? 0
Is this the Early Amortization Period? 0
Interest Allocation Percentage Calculation:
Numerator 691,814,627.49
Denominator-Component(x)-Aggregate Receivables & Part Int 4,053,453,391.15
Denominator - Component (y) - Aggregate Numerators 3,853,929,518.24
Applicable Interest Allocation Percentage 17.07%
Principal Allocation Percentage Calculation:
Numerator 691,814,627.49
Denominator-Component(x)-Aggregate Receivables & Part Int 4,053,453,391.15
Denominator - Component (y) - Aggregate Numerators 3,858,484,218.93
Applicable Principal Allocation Percentage 17.07%
Default Allocation Percentage Calculation:
Numerator 691,814,627.49
Denominator-Component(x)-Aggregate Receivables & Part Int 4,053,453,391.15
Denominator - Component (y) - Aggregate Numerators 3,853,929,518.24
Default Allocation Percentage (Floating Allocation Percentage) 17.07%
Minimum Principal Amount Calculation:
1.8% of Participation Invested Amount 12,452,663.29
Series Participation Interest Default Amt (Sec.4.11(a)(iii)) 5,447,393.64
Excess of (i)1.8% of Part Inv Amt over (ii)Series Part Int 7,005,269.65
Minimum Principal Amount 7,005,269.65
Investor Principal Collections 12,670,202.37
Investor Finance Charge and Admin. Collections (4.11a) 10,921,670.01
Investor Allocated Defaulted Amounts 5,447,393.64
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal Balance 691,814,627.49
Beginning Participation Invested Amount 691,814,627.49
Ending Participation Unpaid Principal Balance 673,697,031.48
Ending Participation Invested Amount 673,697,031.48
Beginning Participation Unpaid Principal Balance x (PRIME-1.50%) 3,901,065.82
Note Interest & Cert Yield Amounts Due Pursuant to Sec. 3.05 3,297,069.98
Participation Invested Amount x 25bps per annum 144,128.05
Participation Interest Distribution Amount 3,901,065.82
Application of Investor Finance Charges & Administrative Collections:
Investor Finance Charge and Admin. Collections (4.11a) 10,921,670.01
Servicing Fee if HFC is not the Servicer (Sec. 4.11 (a)(i) 0.00
Series Participation Interest Monthly Interest (Sec.4.11(a)(ii)) 3,901,065.82
Series Participation Interest Default Amount (Sec.4.11(a)(iii)) 5,447,393.64
Reimbursed Series Particpation Interest Charge-Offs (Sec.4.11(a)(i 0.00
Servicing Fee if HFC is the Servicer (Sec. 4.11 (a)(v)) 1,153,024.38
Excess (Sec. 4.11 (a)(vi)) 420,186.17
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 18,117,596.01
Beginning Unreimbursed Participation Interest Charge-Offs 0.00
Series Participation Interest Charge-Offs (Sec. 4.12 (a)) 0.00
Reimbursed Series Particpation Interest Charge-Offs (Sec.4.11(a)(i 0.00
Ending Unreimbursed Participation Interest Charge-Offs 0.00
Available Investor Principal Collections 18,117,596.01
Participation Interest Distribution Amount 3,901,065.82
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS
Note Interest & Cert Yield Amounts Due Pursuant to Sec. 3.05 3,297,069.98
Excess Interest 603,995.84
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 18,117,596.01
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover Charge Offs 0.00
Optimum Monthly Principal 18,117,596.01
Are the Notes Retired ? 0.00
Accelerated Principal Payment 144,128.05
Beginning Class A-1 Security Balance 437,196,616.51
Beginning Class A-2 Security Balance 52,240,000.00
Beginning Class A-3 Security Balance 67,900,000.00
Beginning Class B Security Balance 49,370,000.00
Beginning Certificate Security Balance 36,886,000.00
Beginning Overcollateralization Amount plus APP 48,366,139.02
Beginning Class A-1 Adjusted Balance 437,196,616.51
Beginning Class A-2 Adjusted Balance 52,240,000.00
Beginning Class A-3 Adjusted Balance 67,900,000.00
Beginning Class B Adjusted Balance 49,370,000.00
Beginning Certficate Adjusted Balance 36,886,000.00
Beginning Overcollateralization Amount plus APP 48,366,139.02
Class A-1 Bal After Payment pursuant to clause in Sec3.05(a)(ii 419,079,020.50
Class A-2 Bal After Payment pursuant to clause in Sec3.05(a)(ii 52,240,000.00
Class A-3 Bal After Payment pursuant to clause in Sec3.05(a)(ii 67,900,000.00
Class B Bal After Payment pursuant to clause in Sec3.05(a)(ii)( 49,370,000.00
Certificate Bal After Payment pursuant to clause in Sec3.05(a)( 36,886,000.00
Class A-2 Minimum Adjusted Principal Balance 18,800,000.00
Class A-3 Minimum Adjusted Principal Balance 24,500,000.00
Class B Minimum Adjusted Principal Balance 17,800,000.00
Certificate Minimum Adjusted Principal Balance 7,900,000.00
Minimum Overcollateralization Amount 14,800,000.00
Certificate Minimum Balance Target 20,415,714.84
Scheduled Certificate Payment to Certificate Min Bal Target 16,470,285.16
Class A-1 Targeted Balance 350,322,456.37
Class A-2 Targeted Balance 3,911,092.47
Class A-3 Targeted Balance 46,122,068.89
Class B Targeted Balance 46,897,396.88
Certificate Targeted Balance 27,843,763.30
Class A-1: Payment Required to get to Target 86,874,160.14
Class A-2: Payment Required to get to Target or Min Adj Bal 33,440,000.00
Class A-3: Payment Required to get to Target or Min Adj Bal 21,777,931.11
Class B: Payment Required to get to Target or Minimum Adj Bal 2,472,603.12
Certificate: Payment Required to get to Target or Min Adj Bal 9,042,236.70
OC: Payment to get to Minimum Overcollateralization Amount 33,566,139.02
Section 3.05 Payment of Principal and Interest; Defaulted Interest 0.00
Pay Certificate Yield in step (ii) (1= Yes) 1.00
Remittances on the Participation 22,018,661.83
Interest and Yield
(i) Pay Class A-1 Interest Distribution-Sec3.05(a)(i)(a) 2,193,436.68
Pay Class A-2 Interest Distribution-Sec3.05(a)(i)(b) 268,838.29
Pay Class A-3 Interest Distribution-Sec3.05(a)(i)(c) 355,274.96
Pay Class B Interest Distribution-Sec3.05(a)(i)(d) 268,097.96
Pay Certificates the Certificate Yield-Sec3.05(a)(i)(e) 211,422.10
Principal up to Optimum Monthly Principal
(ii) Pay Class A-1 to Targeted Principal Balance-Sec3.05(a)(i 18,117,596.01
Pay Class A-2 to Targeted Principal Balance-Sec3.05(a)(i 0.00
Pay Class A-3 to Targeted Principal Balance-Sec3.05(a)(i 0.00
Pay Class B to Targeted Principal Balance-Sec3.05(a)(ii) 0.00
ONLY Pay CertificateYield if not paid pursuant to Sec3.05( 0.00
Principal up to Optimal Monthly Principal
(iii) Pay Certificate to Targeted Principal Balance-Sec3.05(a) 0.00
(iv) Pay OC Remaining Optimal Monthly Principal Amount-Sec3.05( 0.00
Principal up to the Accelerated Principal Payment Amount
(v) Pay Class A-1 to Targeted Principal Balance-Sec3.05(a)(v)( 144,128.05
Pay Class A-2 to Targeted Principal Balance - Sec3.05(a)(v 0.00
Pay Class A-3 to Targeted Principal Balance - Sec3.05(a)(v 0.00
Pay Class B to Targeted Principal Balance - Sec3.05(a)(v)( 0.00
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
(vi) 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 Min. Bal. or zero - Sec3 0.00
Pay HCLC Optimum Monthly Principal provided OC > zero - Sec 0.00
(vii) Remaining Amounts to HCLC - Sec. 3.05 (a)(vii) 459,867.79
Total Reconciliation Check 0.00
Accelerated Principal Reconciliation 0.00
Optimum Monthly Principal Reconciliation 0.00
BOND SUMMARY:
Beginning Class A-1 Note Security Balance $437,196,616.51
Beginning Class A-2 Note Security Balance $52,240,000.00
Beginning Class A-3 Note Security Balance $67,900,000.00
Beginning Class B Note Security Balance $49,370,000.00
Beginning Certificate Security Balance $36,886,000.00
Beginning Overcollateralization Amount $48,222,010.98
Beginning Class A-1 Adjusted Balance $437,196,616.51
Beginning Class A-2 Adjusted Balance $52,240,000.00
Beginning Class A-3 Adjusted Balance $67,900,000.00
Beginning Class B Adjusted Balance $49,370,000.00
Beginning Certficate Adjusted Balance $36,886,000.00
Beginning Overcollateralization Amount $48,222,010.98
Ending Class A-1 Note Security Balance $418,934,892.45
Ending Class A-2 Note Security Balance $52,240,000.00
Ending Class A-3 Note Security Balance $67,900,000.00
Ending Class B Note Security Balance $49,370,000.00
Ending Certificate Security Balance $36,886,000.00
Ending Overcollateralization Amount $48,366,139.02
Ending Class A-1 Adjusted Balance $418,934,892.45
Ending Class A-2 Adjusted Balance $52,240,000.00
Ending Class A-3 Adjusted Balance $67,900,000.00
Ending Class B Adjusted Balance $49,370,000.00
Ending Certficate Adjusted Balance $36,886,000.00
Ending Overcollateralization Amount $48,366,139.02
Class A-1 Note Rate Capped at 13% 5.83%
Class A-2 Note Rate Capped at 15% 5.98%
Class A-3 Note Rate Capped at 15% 6.08%
Class B Note Rate Capped at 15% 6.31%
Certificate Rate Capped at 16% 6.66%
Class A-1 Interest Due $2,193,436.68
Class A-2 Interest Due $268,838.29
Class A-3 Interest Due $355,274.96
Class B Interest Due $268,097.96
Certificate Yield Due $211,422.10
Class A-1 Interest Paid $2,193,436.68
Class A-2 Interest Paid $268,838.29
Class A-3 Interest Paid $355,274.96
Class B Interest Paid $268,097.96
Certificate Yield Paid $211,422.10
Class A-1 Unpaid Interest $0.00
Class A-2 Unpaid Interest $0.00
Class A-3 Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Certificate Unpaid Yield $0.00
Class A-1 Principal Paid $18,261,724.06
Class A-2 Principal Paid $0.00
Class A-3 Principal Paid $0.00
Class B Principal Paid $0.00
Certificate Principal Paid $0.00
OC Principal Paid $0.00
Beginning Class A-1 Net Charge-Off $0.00
Beginning Class A-2 Net Charge-Off $0.00
Beginning Class A-3 Net Charge-Off $0.00
Beginning Class B Net Charge-Off $0.00
Beginning Certificate Net Charge-Off $0.00
Beginning OC Net Charge-Off $0.00
Reversals Allocated to Class A-1 $0.00
Reversals Allocated to Class A-2 $0.00
Reversals Allocated to Class A-3 $0.00
Reversals Allocated to Class B $0.00
Reversals Allocated to Certificates $0.00
Reversals Allocated to OC plus Acclerated Principal Payments $144,128.05
Total Charge-Offs: $0.00
Charge-Offs Allocated to Class A-1 $0.00
Charge-Offs Allocated to Class A-2 $0.00
Charge-Offs Allocated to Class A-3 $0.00
Charge-Offs Allocated to Class B $0.00
Charge-Offs Allocated to Certificates $0.00
Charge-Offs Allocated to OC $0.00
Ending Class A-1 Net Charge-Off $0.00
Ending Class A-2 Net Charge-Off $0.00
Ending Class A-3 Net Charge-Off $0.00
Ending Class B Net Charge-Off $0.00
Ending Certificate Net Charge-Off $0.00
Ending OC Net Charge-Off $0.00
Bond Balance Reconciliation (should equal $0.00) ($0.00)
Certificate Bal/Participation Invested Amount (Begin of Month 5.33%
Designated Certificate/Certificate Security (Bal Begin of Mon 1.000000%
Designated Certificate - Beginning of Month $368,860.00
Principal Payments in Respect of Designated Cert (Sec3.05 $0.00
Designated Certificate - End of Month $368,860.00
Interest Payments in Respect of Designated Cert (Sec3.05(ii $2,114.22
Designated Certificateholder Accelerated Prin Payments-Begin $3,818,010.98
Accelerated Principal Payment (Sec. 3.05 (vi)) $144,128.05
Payments to Holder of Designated Cert in respect to Acc Prin $0.00
Designated Certificateholder Accelerated Prin Payments-Ending $3,962,139.02
Designated Certificateholder Holdback Amount (Begin of Month) $44,404,000.00
Payments to Designated Certificates in Reduction of Holdback Amt $0.00
Designated Certificateholder Holdback Amount (End of Month) $44,404,000.00
Remaining Payments to Designated Certificates (Sec3.05para fo $0.00
Remaining Amounts to Issuer (Sec. 3.05 (x)) $459,867.79
MONTHLY SECURITY REPORT
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
Ending Pool Principal Balance $3,947,471,354.82
Series 1996-2 Participation Invested Amount $673,697,031.48
Seller Amount $194,553,934.73
Remittances on the Participation $22,018,661.83
Optimum Monthly Principal $18,117,596.01
Accelerated Principal Payment $144,128.05
Beginning Class A-1 Note Security Balance $437,196,616.51
Beginning Class A-2 Note Security Balance $52,240,000.00
Beginning Class A-3 Note Security Balance $67,900,000.00
Beginning Class B Note Security Balance $49,370,000.00
Beginning Certificate Security Balance $36,886,000.00
Beginning Overcollateralization Amount $48,222,010.98
Beginning Class A-1 Adjusted Balance $437,196,616.51
Beginning Class A-2 Adjusted Balance $52,240,000.00
Beginning Class A-3 Adjusted Balance $67,900,000.00
Beginning Class B Adjusted Balance $49,370,000.00
Beginning Certificate Adjusted Balance $36,886,000.00
Beginning Overcollateralization Amount $48,222,010.98
Ending Class A-1 Note Security Balance $418,934,892.45
Ending Class A-2 Note Security Balance $52,240,000.00
Ending Class A-3 Note Security Balance $67,900,000.00
Ending Class B Note Security Balance $49,370,000.00
Ending Certificate Security Balance $36,886,000.00
Ending Overcollateralization Amount $48,366,139.02
Ending Class A-1 Adjusted Balance $418,934,892.45
Ending Class A-2 Adjusted Balance $52,240,000.00
Ending Class A-3 Adjusted Balance $67,900,000.00
Ending Class B Adjusted Balance $49,370,000.00
Ending Certificate Adjusted Balance $36,886,000.00
Ending Overcollateralization Amount $48,366,139.02
Class A-1 Note Rate Capped at 13% 5.826250%
Class A-2 Note Rate Capped at 15% 5.976250%
Class A-3 Note Rate Capped at 15% 6.076250%
Class B Note Rate Capped at 15% 6.306250%
Certificate Rate Capped at 16% 6.656250%
Class A-1 Interest Due $2,193,436.68
Class A-2 Interest Due $268,838.29
Class A-3 Interest Due $355,274.96
Class B Interest Due $268,097.96
Certificate Yield Due $211,422.10
Class A-1 Interest Paid $2,193,436.68
Class A-2 Interest Paid $268,838.29
Class A-3 Interest Paid $355,274.96
Class B Interest Paid $268,097.96
Certificate Yield Paid $211,422.10
Class A-1 Unpaid Interest $0.00
Class A-2 Unpaid Interest $0.00
Class A-3 Unpaid Interest $0.00
Class B Unpaid Interest $0.00
Cetificate Unpaid Yield $0.00
Class A-1 Principal Paid $18,261,724.06
Class A-2 Principal Paid $0.00
Class A-3 Principal Paid $0.00
Class B Principal Paid $0.00
Certificate Principal Paid $0.00
OC Principal Paid $0.00
Beginning Class A-1 Net Charge-Off $0.00
Beginning Class A-2 Net Charge-Off $0.00
Beginning Class A-3 Net Charge-Off $0.00
Beginning Class B Net Charge-Off $0.00
Beginning Certificate Net Charge-Off $0.00
Beginning OC Net Charge-Off $0.00
Reversals Allocated to Class A-1 $0.00
Reversals Allocated to Class A-2 $0.00
Reversals Allocated to Class A-3 $0.00
Reversals Allocated to Class B $0.00
Reversals Allocated to Certificates $0.00
Reversals Allocated to OC plus Acclerated Principal Payments $144,128.05
Total Charge-Offs: $0.00
Charge-Offs Allocated to Class A-1 $0.00
Charge-Offs Allocated to Class A-2 $0.00
Charge-Offs Allocated to Class A-3 $0.00
Charge-Offs Allocated to Class B $0.00
Charge-Offs Allocated to Certificates $0.00
Charge-Offs Allocated to OC $0.00
Ending Class A-1 Net Charge-Off $0.00
Ending Class A-2 Net Charge-Off $0.00
Ending Class A-3 Net Charge-Off $0.00
Ending Class B Net Charge-Off $0.00
Ending Certificate Net Charge-Off $0.00
Ending OC Net Charge-Off $0.00
Interest paid per $1,000 Class A-1 2.762515
Principal paid per $1,000 Class A-1 22.999652
Interest paid per $1,000 Class A-2 5.146215
Principal paid per $1,000 Class A-2 0.000000
Interest paid per $1,000 Class A-3 5.232326
Principal paid per $1,000 Class A-3 0.000000
Interest paid per $1,000 Class B 5.430382
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 5.731771
Principal Paid per $1,000 Certificate 0.000000
<PAGE>
BLOOMBERG SUMMARY
HOUSEHOLD CONSUMER LOAN TRUST 1996-2
Monthly Payment Rate (including charge offs) 4.02%
Monthly Draw Rate 1.40%
Monthly Net Payment Rate 2.62%
Actual Payment Rate 2.62%
Annualized Cash Yield 18.94%
Annualized Gross Losses 9.45%
Annualized Portfolio Yield 9.50%
Weighted Coupon 5.95%
Excess Servicing 3.55%
Ending Overcollateralization Percentage (3 mo avg) 6.97%
Trigger Level 4.25%
Excess Overcollateralization 2.72%
Delinquencies: (Principal/Principal)
30-59 days (Del Stat 1) 5.65%
60-89 days (Del Stat 2) 1.93%
90+ days (Del Stat 3+) 7.20%
Total Participation Balance (ending) 673,697,031.48
