FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: February 12, 1999
HOUSEHOLD CONSUMER LOAN TRUST 1997-1
------------------------------------
(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 333-20147 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
-------------
Exhibit Index appears on page 3
<PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
--------
99 Statement to Series 1997-1 Participants with respect to the
distribution on February 12, 1999 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 1997-1 Supplement to the Pooling and Servicing
Agreement, (b) Noteholders with respect to the Payment Date on
February 16, 1999 as provided for under Section 3.23 of the
Indenture dated as of March 1, 1997 between Household Consumer Loan
Trust 1997-1 and The Bank of New York, as Indenture Trustee, and
(c) Certificateholders with respect to the Payment Date on February
16, 1999 as provided for under Section 5.04 of the Trust Agreement
dated as of March 1, 1997 between Household Consumer Loan
Corporation and The Chase Manhattan Bank Delaware, as Owner
Trustee.
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 1997-1
----------------------------------------
(Registrant)
By: /s/ J. W. Blenke
-----------------------------------
J. W. Blenke
Authorized Representative
Dated: February 22, 1999
----------------------
- 2 - <PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
--------
99
Statement to Series 1997-1 Participants with respect to the
distribution on February 12, 1999 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 1997-1 Supplement to the Pooling and Servicing Agreement,
(b) Noteholders with respect to the Payment Date on February 16,
1999 as provided for under Section 3.23 of the Indenture dated as
of March 1, 1997 between Household Consumer Loan Trust 1997-1 and
The Bank of New York, as Indenture Trustee, and (c)
Certificateholders with respect to the Payment Date on February 16,
1999 as provided for under Section 5.04 of the Trust Agreement
dated as of March 1, 1997 between Household Consumer Loan
Corporation and The Chase Manhattan Bank Delaware, as Owner
Trustee.
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 1997-1
----------------------------------------
(Registrant)
By:
-----------------------------------
J. W. Blenke
Authorized Representative
Dated: February 22, 1999
----------------------
- 2 - <PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
- ------- ------- ----
5
99
Statement to Series 1997-1 Participants with respect to the
distribution on February 12, 1999 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 1997-1 Supplement to the Pooling and Servicing Agreement,
(b) Noteholders with respect to the Payment Date on February 16,
1999 as provided for under Section 3.23 of the Indenture dated as
of March 1, 1997 between Household Consumer Loan Trust 1997-1 and
The Bank of New York, as Indenture Trustee, and (c)
Certificateholders with respect to the Payment Date on February 16,
1999 as provided for under Section 5.04 of the Trust Agreement
dated as of March 1, 1997 between Household Consumer Loan
Corporation and The Chase Manhattan Bank Delaware, as Owner
Trustee.
U:\WP\HFS088\8K\HCLT97-1.8K
- 3 -
Household Consumer Loan Deposit Trust
Collateral Report
Number of Due Periods Since Inception 40
Due Period 01-Jan-99
Distribution Date 12-Feb-99
Payment Date 16-Feb-99
*** Trust Portfolio Summary ***
Annualized Cash Yield 18.51%
Annualized Gross Losses -9.27%
Annualized Portfolio Yield 9.24%
Contractual Delinquency Status of Credit Lines:
(Principal / Principal)
30 - 59 days ($) 233693522.63
30 - 59 days (%) 5.70%
60 - 89 days ($) 85993877.89
60 - 89 days (%) 2.10%
90 - 119 days ($) 53654180.2
90 - 119 days (%) 1.31%
120 - 149 days ($) 41257451.29
120 - 149 days (%) 1.01%
150 - 179 days ($) 35924519.1
150 - 179 days (%) 0.88%
180 - 209 days ($) 37302404.18
180 - 209 days (%) 0.91%
210 - 239 days ($) 35769547.6
210 - 239 days (%) 0.87%
240 - 269 days ($) 32877895.91
240 - 269 days (%) 0.80%
270 - 299 days ($) 32265861.5
270 - 299 days (%) 0.79%
300+ days ($) 7623524.48
300+ days (%) 0.19%
Additional Balances on Existing Credit Lines 51,584,109.72
(draws - principal only)
Principal Collections 112,246,312.12
Defaulted Receivables 32,389,992.45
Finance Charge & Administrative Collections 63,116,135.65
Recoveries 1,552,192.00
Average Principal Balance 4,191,310,005.07
Personal Homeowner Lines as % of Total 26.76%
Principal
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1997-1
No. of PMTs Since Issuance: 23
Distribution Date: 12-Feb-99
Payment Date: 16-Feb-99
Collection Period Beginning: 01-Jan-99
Collection Period Ending: 31-Jan-99
Note and Certificate Accrual Beginning: 15-Jan-99
Note and Certificate Accrual Ending: 16-Feb-99
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation 8.61%
Invested Amount
OC Balance as % of Ending Participation 8.82%
Invested Amount
OC Balance as % of Ending Participation 8.39%
Invested Amount (3 month average)
Does Early Amortization Start Based on OC/Part. 0.00
Invstd. Amt. Test
Is the MAP Over? 0.00
Is this the Early Amortization Period? 0.00
Interest Allocation Percentage Calculation:
Numerator 564,139,347.80
Denominator - Component (x) - Aggregate 4,191,310,005.07
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,125,586,649.80
Numerators
Applicable Interest Allocation Percentage 13.46%
Principal Allocation Percentage Calculation:
Numerator 564,139,347.80
Denominator - Component (x) - Aggregate 4,191,310,005.07
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,138,897,897.23
Numerators
Applicable Principal Allocation Percentage 13.46%
Default Allocation Percentage Calculation:
Numerator 564,139,347.80
Denominator - Component (x) - Aggregate 4,191,310,005.07
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,125,586,649.80
Numerators
Default Allocation Percentage (Floating 13.46%
Allocation Percentage)
Minimum Principal Amount Calculation:
2.2% of Participation Invested Amount 12,411,065.65
Series Participation Interest Default Amount 4,359,608.14
(Sec. 4.11 (a)(iii))
Excess of (i) 2.2% of Part. Inv. Amt. over 8,051,457.51
(ii) Series Part. Interest Default Amount
Minimum Principal Amount 8,051,457.51
Investor Principal Collections 8,164,973.54
Investor Finance Charge and Admin. Collections 8,704,187.51
(4.11a)
Investor Allocated Defaulted Amounts 4,359,608.14
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal 564,139,347.80
Balance
Beginning Participation Invested Amount 564,139,347.80
Ending Participation Unpaid Principal Balance 551,614,766.12
Ending Participation Invested Amount 551,614,766.12
Beginning Participation Unpaid Principal 2,840,284.91
Balance x (PRIME-1.50%)
Note Interest and Certificate Yield Amounts Due 2,414,023.51
Pursuant to Sec. 3.05 (a)(i)
Participation Invested Amount x 75bps per annum 117,529.03
prior to 4/98, 25bps per annum thereafter
Participation Interest Distribution Amount 2,840,284.91
Application of Investor Finance Charges &
Administrative Collections:
Investor Finance Charge and Admin. Collections 8,704,187.51
(4.11a)
Servicing Fee if HFC is not the Servicer (Sec. 0.00
4.11 (a)(i)
Series Participation Interest Monthly Interest 2,840,284.91
(Sec. 4.11 (a)(ii))
Series Participation Interest Default Amount 4,359,608.14
(Sec. 4.11 (a)(iii))
Reimbursed Series Particpation Interest Charge- 0.00
Offs (Sec. 4.11 (a)(iv))
Servicing Fee if HFC is the Servicer (Sec. 4.11 940,232.24
(a)(v))
Excess (Sec. 4.11 (a)(vi)) 564,062.22
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 12,524,581.68
Beginning Unreimbursed Participation Interest 0.00
Charge-Offs
Series Participation Interest Charge-Offs 0.00
(Sec. 4.12 (a))
Reimbursed Series Particpation Interest Charge- 0.00
Offs (Sec. 4.11 (a)(iv))
Ending Unreimbursed Participation Interest 0.00
Charge-Offs
Available Investor Principal Collections 12,524,581.68
Participation Interest Distribution Amount 2,840,284.91
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS 0.00
Note Interest and Certificate Yield Amounts Due 2,414,023.51
Pursuant to Sec. 3.05 (a)(i)
Excess Interest 426,261.40
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 12,524,581.68
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover 0.00
Charge Offs
Optimum Monthly Principal 12,524,581.68
Are the Notes Retired ? 0.00
Accelerated Principal Payment 117,529.03
Beginning Class A-1 Security Balance 325,989,551.75
Beginning Class A-2 Security Balance 48,000,000.00
Beginning Class A-3 Security Balance 62,400,000.00
Beginning Class B Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount plus APP 48,667,325.08
Beginning Class A-1 Adjusted Balance 325,989,551.75
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certficate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount plus APP 48,667,325.08
Class A-1 Balance After Payment pursuant to 313,464,970.07
clause in Sec 3.05 (a)(ii)(a)
Class A-2 Balance After Payment pursuant to 48,000,000.00
clause in Sec 3.05 (a)(ii)(b)
Class A-3 Balance After Payment pursuant to 62,400,000.00
clause in Sec 3.05 (a)(ii)(c)
Class B Balance After Payment pursuant to 45,600,000.00
clause in Sec 3.05 (a)(ii)(d)
Certificate Balance After Payment pursuant to 33,600,000.00
clause in Sec. 3.05(a)(iii)
Class A-2 Minimum Adjusted Principal Balance 16,000,000.00
Class A-3 Minimum Adjusted Principal Balance 20,800,000.00
Class B Minimum Adjusted Principal Balance 15,200,000.00
Certificate Minimum Adjusted Principal Balance 11,200,000.00
Minimum Overcollateralization Amount 13,600,000.00
Certificate Minimum Balance Target 5,571,860.75
Scheduled Certificate Payment to Certificate 28,028,139.25
Minimum Balance Target
Class A-1 Targeted Balance 286,839,678.38
Class A-2 Targeted Balance 28,536,184.92
Class A-3 Targeted Balance 52,246,104.52
Class B Targeted Balance 42,249,507.30
Certificate Targeted Balance 35,262,540.93
Class A-1: Payment Required to get to Target 39,149,873.37
Class A-2: Payment Required to get to Target 19,463,815.08
or Minimum Adjusted Balance
Class A-3: Payment Required to get to Target 10,153,895.48
or Minimum Adjusted Balance
Class B: Payment Required to get to Target or 3,350,492.70
Minimum Adjusted Balance
Certificate: Payment Required to get to Target 0.00
or Minimum Adjusted Balance
OC: Payment to get to Minimum 35,067,325.08
Overcollateralization Amount
Section 3.05 Payment of Principal and Interest; 0.00
Defaulted Interest
Pay Certificate Yield in step (ii) (1= Yes) 1.00
Remittances on the Participation 15,364,866.59
Interest and Yield
(i) Pay Class A-1 Interest Distribution - 1,485,063.51
Sec. 3.05 (a)(i)(a)
Pay Class A-2 Interest Distribution - 224,000.00
Sec. 3.05 (a)(i)(b)
Pay Class A-3 Interest Distribution - 296,746.67
Sec. 3.05 (a)(i)(c)
Pay Class B Interest Distribution - 229,013.33
Sec. 3.05 (a)(i)(d)
Pay Certificates the Certificate Yield 179,200.00
- Sec. 3.05 (a)(i)(e)
Principal up to Optimum Monthly Principal
(ii) Pay Class A-1 to Targeted Principal 12,524,581.68
Balance - Sec. 3.05 (a)(ii)(a)
Pay Class A-2 to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(ii)(b)
Pay Class A-3 to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(ii)(c)
Pay Class B to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(ii)(d)
ONLY Pay CertificateYield if not paid 0.00
pursuant to Sec. 3.05 (a)(i)(e) - Sec. 3.05
(a)(vii)
Principal up to Optimal Monthly Principal
(iii) Pay Certificate to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(iii)
(iv) Pay OC Remaining Optimal Monthly 0.00
Principal Amount - Sec. 3.05 (a)(iv)
Principal up to the Accelerated Principal
Payment Amount
(v) Pay Class A-1 to Targeted Principal 117,529.03
Balance - Sec. 3.05 (a)(v)(a)
Pay Class A-2 to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(v)(b)
Pay Class A-3 to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(v)(c)
Pay Class B to Targeted Principal 0.00
Balance - Sec. 3.05 (a)(v)(d)
Pay Class A-1 to zero - Sec. 3.05 0.00
(a)(v)(e)
Pay Class A-2 to zero - Sec. 3.05 0.00
(a)(v)(f)
Pay Class A-3 to zero - Sec. 3.05 0.00
(a)(v)(g)
Pay Class B to zero - Sec. 3.05 0.00
(a)(v)(h)
Principal up to Optimal Monthly Principal
(vi) Pay Class A-1 to zero - Sec. 3.05 0.00
(a)(vi)(a)
Pay Class A-2 to zero - Sec. 3.05 0.00
(a)(vi)(b)
Pay Class A-3 to zero - Sec. 3.05 0.00
(a)(vi)(c)
Pay Class B to zero - Sec. 3.05 0.00
(a)(vi)(d)
Pay Certificates up to Certificate Min. 0.00
Bal. or zero - Sec. 3.05 (a)(vi)(e)
Pay HCLC Optimum Monthly Principal 0.00
provided OC > zero - Sec. 3.05 (a)(vi)(f)
(vii) Remaining Amounts to HCLC - Sec. 3.05 308,732.37
(a)(vii)
Total Reconciliation Check 0.00
(should equal $0.00)
Accelerated Principal Reconciliation 0.00
(should equal $0.00)
Optimum Monthly Principal Reconciliation 0.00
(should equal charge-offs)
BOND SUMMARY:
Beginning Class A-1 Note Security Balance 325,989,551.75
Beginning Class A-2 Note Security Balance 48,000,000.00
Beginning Class A-3 Note Security Balance 62,400,000.00
Beginning Class B Note Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount 48,549,796.05
Beginning Class A-1 Adjusted Balance 325,989,551.75
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certficate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount 48,549,796.05
Ending Class A-1 Note Security Balance 313,347,441.04
Ending Class A-2 Note Security Balance 48,000,000.00
Ending Class A-3 Note Security Balance 62,400,000.00
Ending Class B Note Security Balance 45,600,000.00
Ending Certificate Security Balance 33,600,000.00
Ending Overcollateralization Amount 48,667,325.08
Ending Class A-1 Adjusted Balance 313,347,441.04
Ending Class A-2 Adjusted Balance 48,000,000.00
Ending Class A-3 Adjusted Balance 62,400,000.00
Ending Class B Adjusted Balance 45,600,000.00
Ending Certficate Adjusted Balance 33,600,000.00
Ending Overcollateralization Amount 48,667,325.08
Class A-1 Note Rate Capped at 12.5% 5.125000%
Class A-2 Note Rate Capped at 14.0% 5.250000%
Class A-3 Note Rate Capped at 14.0% 5.350000%
Class B Note Rate Capped at 14.0% 5.650000%
Certificate Rate Capped at 15.0% 6.000000%
Class A-1 Interest Due 1,485,063.51
Class A-2 Interest Due 224,000.00
Class A-3 Interest Due 296,746.67
Class B Interest Due 229,013.33
Certificate Yield Due 179,200.00
Class A-1 Interest Paid 1,485,063.51
Class A-2 Interest Paid 224,000.00
Class A-3 Interest Paid 296,746.67
Class B Interest Paid 229,013.33
Certificate Yield Paid 179,200.00
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 12,642,110.71
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 117,529.03
Principal Payments
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 Balance/Participation Invested 5.956%
Amount (Beginning of Month)
Designated Certificate / Certificate Security 1.000%
(Balance Beginning of Month)
Designated Certificate - Beginning of Month 336,000.00
Principal Payments in Respect of Designated 0.00
Certificate (Sec. 3.05 (vi) & (vii))
Designated Certificate - End of Month 336,000.00
Yield Payments in Respect of Designated 1,792.00
Certificate (Sec. 3.05 (a)(i)(e))
Designated Certificateholder Accelerated 7,749,796.05
Principal Payments - Beginning Balance
Accelerated Principal Payment (Sec. 3.05 (v)) 117,529.03
Payments to Holder of Designated Certificate in 0.00
respect to Acc. Prin. (Sec. 3.05 (vi)(f) &
(vii))
Designated Certificateholder Accelerated 7,867,325.08
Principal Payments - Ending Balance
Designated Certificateholder Holdback Amount 40,800,000.00
(Beginning of Month)
Payments to Designated Certificates in 0.00
Reduction of Holdback Amount (Sec. 3.05 (v) &
(ix))
Designated Certificateholder Holdback Amount 40,800,000.00
(End of Month)
Remaining Payments to Designated Certificates 0.00
(Sec. 3.05 paragraph following (vii))
Remaining Amounts to Issuer (Sec. 3.05 (vii)) 308,732.37
Monthly Security Report
Household Consumer Loan Trust 1997-1
Distribution Date 12-Feb-99
Payment Date: 16-Feb-99
Collection Period Beginning 01-Jan-99
Collection Period Ending: 31-Jan-99
Note and Certificate Accrual Beginning: 15-Jan-99
Note and Certificate Accrual Ending: 16-Feb-99
Ending Pool Principal Balance 4,098,437,321.49
Series 1997-1 Participation Invested Amount 551,614,766.12
Seller Amount 64,636,385.92
Remittances on the Participation 15,364,866.59
Optimum Monthly Principal 12,524,581.68
Accelerated Principal Payment 117,529.03
Beginning Class A-1 Note Security Balance 325,989,551.75
Beginning Class A-2 Note Security Balance 48,000,000.00
Beginning Class A-3 Note Security Balance 62,400,000.00
Beginning Class B Note Security Balance 45,600,000.00
Beginning Certificate Security Balance 33,600,000.00
Beginning Overcollateralization Amount 48,549,796.05
Beginning Class A-1 Adjusted Balance 325,989,551.75
Beginning Class A-2 Adjusted Balance 48,000,000.00
Beginning Class A-3 Adjusted Balance 62,400,000.00
Beginning Class B Adjusted Balance 45,600,000.00
Beginning Certificate Adjusted Balance 33,600,000.00
Beginning Overcollateralization Amount 48,549,796.05
Ending Class A-1 Note Security Balance 313,347,441.04
Ending Class A-2 Note Security Balance 48,000,000.00
Ending Class A-3 Note Security Balance 62,400,000.00
Ending Class B Note Security Balance 45,600,000.00
Ending Certificate Security Balance 33,600,000.00
Ending Overcollateralization Amount 48,667,325.08
Ending Class A-1 Adjusted Balance 313,347,441.04
Ending Class A-2 Adjusted Balance 48,000,000.00
Ending Class A-3 Adjusted Balance 62,400,000.00
Ending Class B Adjusted Balance 45,600,000.00
Ending Certificate Adjusted Balance 33,600,000.00
Ending Overcollateralization Amount 48,667,325.08
Class A-1 Note Rate Capped at 12.5% 5.125000%
Class A-2 Note Rate Capped at 14.0% 5.250000%
Class A-3 Note Rate Capped at 14.0% 5.350000%
Class B Note Rate Capped at 14.0% 5.650000%
Certificate Rate Capped at 15.0% 6.000000%
Class A-1 Interest Due 1,485,063.51
Class A-2 Interest Due 224,000.00
Class A-3 Interest Due 296,746.67
Class B Interest Due 229,013.33
Certificate Yield Due 179,200.00
Class A-1 Interest Paid 1,485,063.51
Class A-2 Interest Paid 224,000.00
Class A-3 Interest Paid 296,746.67
Class B Interest Paid 229,013.33
Certificate Yield Paid 179,200.00
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 12,642,110.71
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 117,529.03
Principal Payments
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 2.035449
Principal paid per $1,000 Class A-1 17.327454
Interest paid per $1,000 Class A-2 4.666667
Principal paid per $1,000 Class A-2 0.000000
Interest paid per $1,000 Class A-3 4.755556
Principal paid per $1,000 Class A-3 0.000000
Interest paid per $1,000 Class B 5.022222
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 5.333333
Principal Paid per $1,000 Certificate 0.000000
Bloomberg Summary
Household Consumer Loan Trust 1997-1
Due Period Jan-99
Monthly Payment Rate (including charge offs) 3.45%
Monthly Draw Rate 1.23%
Monthly Net Payment Rate 2.22%
Actual Payment Rate 2.22%
Annualized Cash Yield 18.51%
Annualized Gross Losses 9.27%
Annualized Portfolio Yield 9.24%
Weighted Coupon 5.27%
Excess Servicing 3.97%
Ending Overcollateralization Percentage (3 mo 8.61%
avg)
Trigger Level 4.25%
Excess Overcollateralization 4.36%
Delinquencies:
(Principal/Principal)
30-59 days (Del Stat 1) 5.70%
60-89 days (Del Stat 2) 2.10%
90+ days (Del Stat 3+) 6.75%
Total Participation Balance (ending) 551,614,766.12
