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Previous: HOUSEHOLD REVOLVING HOME EQUITY LOAN TRUST 1996-2, 8-K, 2000-11-29 |
Next: FMI FUNDS INC, NSAR-B, 2000-11-29 |
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Household Finance Corporation |
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Household Revolving Home Equity Loan Trust 1996-2 |
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Revolving Home Equity Loan Asset Backed Certificates - Series 1996-2 |
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P & S Agreement Date: November 1, 1996 |
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Original Settlement Date: November 26, 1996 |
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Series Number of Class A-1 Certificates: 441919AK3 |
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Original Sale Balance: $776,373,000 |
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Servicer Certificate (Page 1 of 3) |
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Distribution Date: |
11/20/2000 |
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Investor Certificateholder Floating Allocation Percentage |
91.10% |
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Investor Certificateholder Fixed Allocation Percentage |
97.32% |
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Aggregate Amount of Collections |
7,203,976.97 |
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Aggregate Amount of Interest Collections |
2,555,313.73 |
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Aggregate Amount of Principal Collections |
4,648,663.24 |
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Class A Interest Collections |
2,327,794.78 |
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Class A Principal Collections |
4,418,005.41 |
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Seller Interest Collections |
227,518.95 |
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Seller Principal Collections |
230,657.83 |
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Weighted Average Loan Rate |
14.11% |
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Net Loan Rate |
13.11% |
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Weighted Average Maximum Loan Rate |
18.87% |
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Class A-1 Certificate Rate |
6.7600% |
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Maximum Investor Certificate Rate |
13.1101% |
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Class A-1 Certificate Interest Distributed |
1,100,830.56 |
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Class A-1 Investor Certificate Interest Shortfall before Draw |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Received |
0.00 |
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Unpaid Class A-1 Certificate Interest Shortfall Remaining |
0.00 |
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Unpaid Class A-1 Carryover Interest Amount |
0.00 |
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Maximum Principal Dist. Amount (MPDA) |
4,523,995.39 |
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Alternative Principal Dist. Amount (APDA) |
4,418,005.41 |
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Rapid Amortization Period? (Y=1, N=0) |
0.00 |
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Scheduled Principal Distribution Amount (SPDA) |
4,418,005.41 |
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Principal allocable to Class A-1 |
4,418,005.41 |
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SPDA deposited to Funding Account |
0.00 |
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Subsequent Funding Mortgage Loans Purchased in Period |
0.00 |
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Cumulative Subsequent Funding Mortgage Loans Purchased |
135,722,113.20 |
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Accelerated Principal Distribution Amount |
0.00 |
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APDA allocable to Class A-1 |
0.00 |
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Reimbursement to Credit Enhancer |
0.00 |
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Spread Trigger hit? |
No |
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Loss Trigger hit? |
No |
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Reduction in Certificate Principal Balance |
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due to Current Class A-1 Liquidation Loss Amount |
303,464.88 |
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Cumulative Investor Liquidation Loss Amount |
303,464.88 |
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Total Principal allocable to A-1 |
4,721,470.29 |
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Beginning Class A-1 Certificate Principal Balance |
189,110,041.55 |
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Ending Class A-1 Certificate Principal Balance |
184,388,571.26 |
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Pool Factor (PF) |
0.2375000 |
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Servicer Certificate (Page 2 of 3) |
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Distribution Date: |
11/20/2000 |
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Retransfer Deposit Amount (non 2.07 transfers) |
0.00 |
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Servicing Fees Distributed |
160,909.54 |
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Beg. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Accrued and Unpaid Inv. Servicing Fees Recv'd |
0.00 |
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End. Accrued and Unpaid Inv. Servicing Fees |
0.00 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Aggregate Investor Liquidation Loss Amount |
303,464.88 |
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Investor Loss Reduction Amount |
0.00 |
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Beginning Pool Balance |
211,964,227.64 |
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Ending Pool Balance |
207,212,778.75 |
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Beginning Invested Amount |
193,091,445.55 |
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Ending Invested Amount |
188,369,975.26 |
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Beginning Seller Principal Balance |
18,872,782.09 |
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Ending Seller Principal Balance |
18,842,803.49 |
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Additional Balances |
230,657.83 |
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Beginning Funding Account Balance |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Funding Account Balance % (before any purchase of Subsequent Loans or release to Certs.) |
0.00% |
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Ending Funding Account Balance % (after purchase of Subsequent Loans or release to Certs.) |
0.00% |
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Principal Balance of Subsequent Funding Loans Purchased in Period |
$0.00 |
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Principal Collections to purchase Additional Balances and/or paid to Cert. |
$0.00 |
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Investment Earnings on Funding Account |
$0.00 |
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Excess Funding Amount |
$0.00 |
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Beginning Spread Account Balance |
2,786,983.00 |
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Ending Spread Account Balance |
2,786,983.00 |
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Beginning Seller Interest |
8.90% |
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Ending Seller's Interest |
9.09% |
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Delinquency & REO Status |
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30 - 59 days (Del Stat 3) |
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No. of Accounts |
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Trust Balance |
578 |
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60 - 89 days (Del Stat 4) |
20,221,811.36 |
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No. of Accounts |
158 |
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Trust Balance |
5,027,687.92 |
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90+ (Del Stat 5+) |
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No. of Accounts |
222 |
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Trust Balance |
5,960,020.29 |
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REO |
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No. of Accounts |
27 |
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Trust Balance |
806,246.72 |
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Rapid Amortization Event ? |
No |
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Failure to make payment within 5 Business Days of Required Date ? |
No |
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Failure to perform covenant relating to Trust's Security Interest ? |
No |
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Failure to perform other covenants as described in the Agreement ? |
No |
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Breach of Representation or Warranty ? |
No |
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Bankruptcy, Insolvency or Receivership relating to Seller ? |
No |
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Subject to Investment Company Act of 1940 Regulation ? |
No |
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Servicing Termination ? |
No |
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Aggregate of Credit Enhancement Draw Amounts exceed 1% of the Cut-off Balance and Pre-Funded Amount |
No |
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Servicer Certificate (Page 3 of 3) |
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Distribution Date: |
11/20/2000 |
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Event of Default ? |
No |
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Failure by Servicer to make payment within 5 Bus. Days of Required Date ? |
No |
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Failure by Servicer to perform covenant relating to Trust's Security Interest ? |
No |
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Failure by Servicer to perform other covenants as described in the Agreement? |
No |
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Bankruptcy, Insolvency or Receivership relating to Master Servicer ? |
No |
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Trigger Event ? |
No |
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Policy Fee Distributed to Credit Enhancer (Paid directly from HFC) |
N/A |
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Premium Distributed to Credit Enhancer |
0.00 |
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Amount Distributed to Seller |
458,176.78 |
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Master Servicer Credit Facility Amount |
0.00 |
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Guaranteed Principal Distribution Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Spread Account Draw Amount |
0.00 |
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Capitalized Interest Account Draw |
0.00 |
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Amount re-imbursed to Credit Enhancer (5.01(a)(vi)) |
0.00 |
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Amount paid to Trustee |
0.00 |
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Cumulative Draw under Policy |
0.00 |
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Net Yield |
4.74% |
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Total Available Funds |
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Aggregate Amount of Collections |
7,203,976.97 |
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Deposit for principal not used to purchase subsequent loans |
0.00 |
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Interest Earnings on the Funding Account |
0.00 |
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Total |
7,203,976.97 |
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Application of Available Funds |
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Servicing Fee |
160,909.54 |
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Prinicpal and Interest to Class A-1 |
5,822,300.85 |
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Seller's portion of Principal and Interest |
458,176.78 |
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Funds deposited into Funding Account (Net) |
0.00 |
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Funds deposited into Spread Account |
0.00 |
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Excess funds released to Seller |
762,589.80 |
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Total |
7,203,976.97 |
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OFFICERS'S CERTIFICATE |
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All computations reflected in this Servicer Certificate were |
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made in conformity with the Pooling and Servicing Agreement. |
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The attached Servicing Certificate is true and correct in all |
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material respects. |
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A Servicing Officer |
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Statement to Certificateholders (Page 1 of 2) |
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Distribution Date: |
11/20/2000 |
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000) |
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Class A Certificateholder Floating Allocation Percentage |
91.0962% |
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Class A Certificateholder Fixed Allocation Percentage |
97.3182% |
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Beginning Class A-1 Certificate Balance |
189,110,041.55 |
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Class A-1 Certificate Rate |
6.760000% |
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Class A-1 Certificate Interest Distributed |
1.417915 |
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Class A-1 Certificate Interest Shortfall Distributed |
0.000000 |
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Remaining Unpaid Class A-1 Certificate Interest Shortfall |
0.000000 |
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Rapid Amortization Event ? |
No |
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Class A-1 Certificate Principal Distributed |
6.081446 |
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Maximum Principal Distribution Amount |
5.827090 |
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Scheduled Principal Distribution Amount (SPDA) |
5.690571 |
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Accelerated Principal Distribution Amount |
0.000000 |
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Aggregate Investor Liquidation Loss Amount Distributed |
0.390875 |
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Total Amount Distributed to Certificateholders |
7.499360 |
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Principal Collections deposited into Funding Account |
0.00 |
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Ending Funding Account Balance |
0.00 |
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Ending Class A-1 Certificate Balance |
184,388,571.26 |
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Class A-1 Factor |
0.2375000 |
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Pool Factor (PF) |
0.2375000 |
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Unreimbursed Liquidation Loss Amount |
$0 |
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Accrued Interest on Unreimbursed Liquidation Loss Amount |
$0 |
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Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount |
$0 |
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Class A Servicing Fee |
160,909.54 |
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Beginning Invested Amount |
193,091,445.55 |
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Ending Invested Amount |
188,369,975.26 |
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Beginning Pool Balance |
211,964,227.64 |
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Ending Pool Balance |
207,212,778.75 |
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Spread Account Draw Amount |
0.00 |
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Credit Enhancement Draw Amount |
0.00 |
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Statement to Certificateholders (Page 2 of 2) |
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Distribution Date: |
11/20/2000 |
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DELINQUENCY & REO STATUS |
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30 - 59 days (Del Stat 3) |
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No. of Accounts |
578 |
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Trust Balance |
20,221,811.36 |
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60 - 89 days (Del Stat 4) |
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No. of Accounts |
158 |
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Trust Balance |
5,027,687.92 |
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90+ (Del Stat 5+) |
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No. of Accounts |
222 |
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Trust Balance |
5,960,020.29 |
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REO |
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No. of Accounts |
27 |
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Trust Balance |
806,246.72 |
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Aggregate Liquidation Loss Amount for Liquidated Loans |
333,125.57 |
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Class A-1 Certificate Rate for Next Distribution Date |
To be updated |
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Amount of any Draws on the Policy |
0.00 |
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Subsequent Mortgage Loans |
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No. of Accounts |
0.00 |
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Trust Balance |
0.00 |
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Cumulative No. of Accounts |
4,332.00 |
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Cumulative Trust Balance |
135,722,113.20 |
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Retransferred Mortgage Loans pursuant to 2.07 |
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Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
0 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
0.00 |
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