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Previous: HOUSEHOLD REVOLVING HOME EQUITY LOAN TRUST 1996-2, 8-K, 2000-12-29 |
Next: MUTUAL FUND SELECT GROUP, N-30D, 2000-12-29 |
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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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Distribution Date: |
12/20/00 |
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Determination Date: |
12/19/00 |
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Month: |
49 |
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Servicer Certificate (Page 1 of 4) |
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Distribution Date: |
12/20/00 |
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Class A Certificateholder Floating Allocation Percentage |
90.91% |
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Class A Certificateholder Fixed Allocation Percentage |
97.32% |
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Aggregate Amount of Collections |
$7,594,119.66 |
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Aggregate Amount of Interest Collections |
$2,412,274.71 |
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Aggregate Amount of Principal Collections |
$5,181,844.95 |
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Class A Interest Collections |
$2,192,915.56 |
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Class A Principal Collections |
$5,012,471.53 |
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Seller Interest Collections |
$219,359.15 |
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Seller Principal Collections |
$169,373.42 |
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Weighted Average Loan Rate |
14.12% |
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Class A Interest Payment Cap |
13.12% |
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Weighted Average Maximum Loan Rate |
18.87% |
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Class A-1 Certificate Rate |
6.75875% |
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Maximum Investor Certificate Rate |
13.1174% |
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Class A-1 Certificate Interest Distributed |
$1,038,530.21 |
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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) |
$5,042,971.51 |
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Alternative Principal Dist. Amount (APDA) |
$5,012,471.53 |
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Rapid Amortization Period? (Y=1, N=0) |
$0.00 |
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Scheduled Principal Distribution Amount (SPDA) |
$5,012,471.53 |
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Principal allocable to Class A-1 |
$5,012,471.53 |
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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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Net Yield Trigger Calculation (Insurance Agreement) Monthly |
5.46% |
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Net Yield Trigger Calculation (Insurance Agreement) 3 month avg |
4.77% |
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Spread Trigger hit? |
No |
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Servicer Certificate (Page 2 of 4) |
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Distribution Date: |
12/20/00 |
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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 |
$139,714.09 |
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Cumulative Class A Liquidation Loss Amount |
$139,714.09 |
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Total Principal allocable to A-1 |
$5,152,185.62 |
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Beginning Class A-1 Certificate Principal Balance |
$184,388,571.26 |
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Ending Class A-1 Certificate Principal Balance |
$179,236,385.64 |
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Pool Factor (PF) |
0.2308638 |
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Retransfer Deposit Amount (non 2.07 transfers) |
$0.00 |
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Servicing Fees Distributed |
$156,974.98 |
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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 |
$0.00 |
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Cumulative Number of Mortgage Loans Retransferred pursuant to 2.07 |
$0.00 |
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Mortgage Loans Retransferred pursuant to 2.07 ($) |
$0.00 |
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Cumulative Mortgage Loans Retransferred pursuant to 2.07 ($) |
$0.00 |
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Current Investor Net Realized Loss |
$139,714.09 |
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Class A Loss Reduction Amount |
$0.00 |
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Beginning Pool Balance |
$207,212,778.75 |
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Ending Pool Balance |
$202,046,230.42 |
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Beginning Invested Amount |
$188,369,975.26 |
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Ending Invested Amount |
$183,217,789.64 |
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Beginning Seller Principal Balance |
$18,842,803.49 |
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Ending Seller Principal Balance |
$18,828,440.78 |
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Additional Balances |
$169,373.42 |
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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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Servicer Certificate (Page 3 of 4) |
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Distribution Date: |
12/20/00 |
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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 the 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 |
9.09% |
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Ending Seller's Interest |
9.32% |
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Delinquency & REO Status (Principal/Principal) |
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30 - 59 days (Del Stat 3) |
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No. of Accounts |
547 |
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Trust Balance |
17,565,343.77 |
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60 - 89 days (Del Stat 4) |
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No. of Accounts |
138 |
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Trust Balance |
4,646,084.47 |
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90+ (Del Stat 5+) |
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No. of Accounts |
215 |
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Trust Balance |
6,101,255.21 |
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270+ (Del Stat 11+) |
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No. of Accounts |
113.00 |
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Trust Balance |
2,683,746.02 |
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REO |
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No. of Accounts |
27 |
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Trust Balance |
748,377.99 |
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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 |
No |
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Servicer Certificate (Page 4 of 4) |
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Distribution Date: |
12/20/00 |
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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 |
$388,732.57 |
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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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$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 |
5.46% |
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Total Available Funds |
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Aggregate Amount of Collections |
$7,594,119.66 |
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Deposit for principal not used to purchase subsequent loans |
$0.00 |
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$0.00 |
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$0.00 |
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Interest Earnings on Funding Account |
$0.00 |
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Total |
$7,594,119.66 |
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Application of Available Funds |
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Servicing Fee |
$156,974.98 |
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Prinicpal and Interest to Class A-1 |
$6,190,715.83 |
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Seller's portion of Principal and Interest |
$388,732.57 |
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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 |
$857,696.28 |
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Total |
$7,594,119.66 |
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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 3) |
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Distribution Date: |
12/20/00 |
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000) |
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Class A Certificateholder Floating Allocation Percentage |
90.9065% |
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Class A Certificateholder Fixed Allocation Percentage |
97.3200% |
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Beginning Class A-1 Certificate Balance |
$184,388,571.26 |
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Class A-1 Certificate Rate |
6.758750% |
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Class A-1 Certificate Interest Distributed |
1.337669 |
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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 |
6.636225 |
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Maximum Principal Distribution Amount |
6.495552 |
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Scheduled Principal Distribution Amount (SPDA) |
6.456267 |
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Accelerated Principal Distribution Amount |
0.000000 |
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Aggregate Class A Liquidation Loss Amount Distributed |
0.179957 |
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Class A Certificate Distribution Amount |
7.973894 |
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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 |
179,236,385.64 |
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Class A-1 Factor |
0.2308638 |
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Pool Factor (PF) |
0.2308638 |
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Unreimbursed Liquidation Loss Amount |
$0.00 |
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Accrued Interest on Unreimbursed Liquidation Loss Amount |
$0.00 |
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Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount |
$0.00 |
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Reimbursement of previous Class A Loss Reduction Amounts |
$0.00 |
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Unreimbursed Class A Loss Reduction Amounts |
$0.00 |
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Class A Servicing Fee |
$156,974.98 |
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Statement to Certificateholders (Page 2 of 3) |
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Distribution Date: |
12/20/00 |
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Beginning Invested Amount |
$188,369,975.26 |
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Ending Invested Amount |
$183,217,789.64 |
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Beginning Pool Balance |
$207,212,778.75 |
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Ending Pool Balance |
$202,046,230.42 |
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Spread Account Draw Amount |
$0.00 |
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Credit Enhancement Draw Amount |
$0.00 |
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Net Insured Principal Amount |
$450,000,000.00 |
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DELINQUENCY & REO STATUS (Principal/Principal) |
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30 - 59 days (Del Stat 3) |
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No. of Accounts |
547 |
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Trust Balance |
17,565,343.77 |
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60 - 89 days (Del Stat 4) |
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No. of Accounts |
138 |
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Trust Balance |
4,646,084.47 |
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90+ (Del Stat 5+) |
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No. of Accounts |
215 |
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Trust Balance |
6,101,255.21 |
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REO |
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No. of Accounts |
27 |
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Trust Balance |
748,377.99 |
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Current Net Realized Loss |
153,689.81 |
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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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Statement to Certificateholders (Page 3 of 3) |
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Distribution Date: |
12/20/00 |
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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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Interest Earnings on the Spread Account |
$0.00 |
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Interest Earnings on the Funding Account |
$0.00 |
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