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: March 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 March 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 March 15, 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 March 15, 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: March 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 March 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 March 15, 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 March 15, 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: March 22, 1999
----------------------
- 2 - <PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
- ------- ------- ----
5
99
Statement to Series 1997-1 Participants with respect to the
distribution on March 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 March 15, 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 March 15, 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 41
Due Period 01-Feb-99
Distribution Date 12-Mar-99
Payment Date 15-Mar-99
*** Trust Portfolio Summary ***
Annualized Cash Yield 19.73%
Annualized Gross Losses -8.22%
Annualized Portfolio Yield 11.51%
Contractual Delinquency Status of Credit Lines:
(Principal / Principal)
30 - 59 days ($) 229844184.69
30 - 59 days (%) 5.22%
60 - 89 days ($) 82295780.46
60 - 89 days (%) 1.87%
90 - 119 days ($) 53354001.39
90 - 119 days (%) 1.21%
120 - 149 days ($) 45178359.82
120 - 149 days (%) 1.03%
150 - 179 days ($) 36551846.77
150 - 179 days (%) 0.83%
180 - 209 days ($) 33699409.68
180 - 209 days (%) 0.77%
210 - 239 days ($) 35667318.84
210 - 239 days (%) 0.81%
240 - 269 days ($) 34479153.01
240 - 269 days (%) 0.78%
270 - 299 days ($) 31761575.44
270 - 299 days (%) 0.72%
300+ days ($) 7304091.04
300+ days (%) 0.17%
Additional Balances on Existing Credit Lines 65,238,851.09
(draws - principal only)
Principal Collections 147,156,505.94
Defaulted Receivables 30,888,079.43
Finance Charge & Administrative Collections 72,986,564.53
Recoveries 1,190,177.00
Average Principal Balance 4,511,565,896.33
Personal Homeowner Lines as % of Total 28.25%
Principal
Household Finance Corporation
Household Consumer Loan Corporation
Household Consumer Loan Trust Series 1997-1
No. of PMTs Since Issuance: 24
Distribution Date: 12-Mar-99
Payment Date: 15-Mar-99
Collection Period Beginning: 01-Feb-99
Collection Period Ending: 28-Feb-99
Note and Certificate Accrual Beginning: 16-Feb-99
Note and Certificate Accrual Ending: 15-Mar-99
PAYMENT CALCULATIONS:
OC Balance as % of Beginning Participation 8.82%
Invested Amount
OC Balance as % of Ending Participation 9.07%
Invested Amount
OC Balance as % of Ending Participation 8.61%
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 551,614,766.12
Denominator - Component (x) - Aggregate 4,511,565,896.33
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,033,800,935.57
Numerators
Applicable Interest Allocation Percentage 12.23%
Principal Allocation Percentage Calculation:
Numerator 551,614,766.12
Denominator - Component (x) - Aggregate 4,511,565,896.33
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,049,617,097.54
Numerators
Applicable Principal Allocation Percentage 12.23%
Default Allocation Percentage Calculation:
Numerator 551,614,766.12
Denominator - Component (x) - Aggregate 4,511,565,896.33
Receivables & Partc. Interest
Denominator - Component (y) - Aggregate 4,033,800,935.57
Numerators
Default Allocation Percentage (Floating 12.23%
Allocation Percentage)
Minimum Principal Amount Calculation:
2.2% of Participation Invested Amount 12,135,524.85
Series Participation Interest Default Amount 3,776,586.91
(Sec. 4.11 (a)(iii))
Excess of (i) 2.2% of Part. Inv. Amt. over 8,358,937.94
(ii) Series Part. Interest Default Amount
Minimum Principal Amount 8,358,937.94
Investor Principal Collections 10,015,810.27
Investor Finance Charge and Admin. Collections 9,069,353.50
(4.11a)
Investor Allocated Defaulted Amounts 3,776,586.91
DEPOSIT TRUST CALCULATIONS
Beginning Participation Unpaid Principal 551,614,766.12
Balance
Beginning Participation Invested Amount 551,614,766.12
Ending Participation Unpaid Principal Balance 537,822,368.94
Ending Participation Invested Amount 537,822,368.94
Beginning Participation Unpaid Principal 2,681,460.67
Balance x (PRIME-1.50%)
Note Interest and Certificate Yield Amounts Due 1,963,958.18
Pursuant to Sec. 3.05 (a)(i)
Participation Invested Amount x 75bps per annum 114,919.74
prior to 4/98, 25bps per annum thereafter
Participation Interest Distribution Amount 2,681,460.67
Application of Investor Finance Charges &
Administrative Collections:
Investor Finance Charge and Admin. Collections 9,069,353.50
(4.11a)
Servicing Fee if HFC is not the Servicer (Sec. 0.00
4.11 (a)(i)
Series Participation Interest Monthly Interest 2,681,460.67
(Sec. 4.11 (a)(ii))
Series Participation Interest Default Amount 3,776,586.91
(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. 4.11 919,357.95
(a)(v))
Excess (Sec. 4.11 (a)(vi)) 1,691,947.97
Reconciliation Check 0.00
Series Participation Interest Monthly Principal 13,792,397.18
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 13,792,397.18
Participation Interest Distribution Amount 2,681,460.67
Series Participation Interest Charge-Offs 0.00
OWNER TRUST CALCULATIONS 0.00
Note Interest and Certificate Yield Amounts Due 1,963,958.18
Pursuant to Sec. 3.05 (a)(i)
Excess Interest 717,502.49
Beginning Net Charge-Offs 0.00
Reversals 0.00
+Available Investor Principal Collections 13,792,397.18
+Series Participation Interest Charge Offs 0.00
+ Lesser of Excess Interest and Carryover 0.00
Charge Offs
Optimum Monthly Principal 13,792,397.18
Are the Notes Retired ? 0.00
Accelerated Principal Payment 114,919.74
Beginning Class A-1 Security Balance 313,347,441.04
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 48,782,244.82
Beginning Class A-1 Adjusted Balance 313,347,441.04
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 48,782,244.82
Class A-1 Balance After Payment pursuant to 299,555,043.86
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 5,432,543.75
Scheduled Certificate Payment to Certificate 28,167,456.25
Minimum Balance Target
Class A-1 Targeted Balance 279,667,631.85
Class A-2 Targeted Balance 33,894,824.88
Class A-3 Targeted Balance 55,811,732.85
Class B Targeted Balance 44,504,857.90
Certificate Targeted Balance 36,552,423.72
Class A-1: Payment Required to get to Target 33,679,809.19
Class A-2: Payment Required to get to Target 14,105,175.12
or Minimum Adjusted Balance
Class A-3: Payment Required to get to Target 6,588,267.15
or Minimum Adjusted Balance
Class B: Payment Required to get to Target or 1,095,142.10
Minimum Adjusted Balance
Certificate: Payment Required to get to Target 0.00
or Minimum Adjusted Balance
OC: Payment to get to Minimum 35,182,244.82
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 16,473,857.85
Interest and Yield
(i) Pay Class A-1 Interest Distribution - 1,189,301.60
Sec. 3.05 (a)(i)(a)
Pay Class A-2 Interest Distribution - 186,682.68
Sec. 3.05 (a)(i)(b)
Pay Class A-3 Interest Distribution - 247,367.48
Sec. 3.05 (a)(i)(c)
Pay Class B Interest Distribution - 191,028.55
Sec. 3.05 (a)(i)(d)
Pay Certificates the Certificate Yield 149,577.88
- - Sec. 3.05 (a)(i)(e)
Principal up to Optimum Monthly Principal
(ii) Pay Class A-1 to Targeted Principal 13,792,397.18
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 114,919.74
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. 3.05 602,582.75
(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 313,347,441.04
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 48,667,325.08
Beginning Class A-1 Adjusted Balance 313,347,441.04
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 48,667,325.08
Ending Class A-1 Note Security Balance 299,440,124.12
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 48,782,244.82
Ending Class A-1 Adjusted Balance 299,440,124.12
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 48,782,244.82
Class A-1 Note Rate Capped at 12.5% 5.060630%
Class A-2 Note Rate Capped at 14.0% 5.185630%
Class A-3 Note Rate Capped at 14.0% 5.285630%
Class B Note Rate Capped at 14.0% 5.585630%
Certificate Rate Capped at 15.0% 5.935630%
Class A-1 Interest Due 1,189,301.60
Class A-2 Interest Due 186,682.68
Class A-3 Interest Due 247,367.48
Class B Interest Due 191,028.55
Certificate Yield Due 149,577.88
Class A-1 Interest Paid 1,189,301.60
Class A-2 Interest Paid 186,682.68
Class A-3 Interest Paid 247,367.48
Class B Interest Paid 191,028.55
Certificate Yield Paid 149,577.88
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 13,907,316.92
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 114,919.74
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 6.091%
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 1,495.78
Certificate (Sec. 3.05 (a)(i)(e))
Designated Certificateholder Accelerated 7,867,325.08
Principal Payments - Beginning Balance
Accelerated Principal Payment (Sec. 3.05 (v)) 114,919.74
Payments to Holder of Designated Certificate in 0.00
respect to Acc. Prin. (Sec. 3.05 (vi)(f) &
(vii))
Designated Certificateholder Accelerated 7,982,244.82
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)) 602,582.75
Monthly Security Report
Household Consumer Loan Trust 1997-1
Distribution Date 12-Mar-99
Payment Date: 15-Mar-99
Collection Period Beginning 01-Feb-99
Collection Period Ending: 28-Feb-99
Note and Certificate Accrual Beginning: 16-Feb-99
Note and Certificate Accrual Ending: 15-Mar-99
Ending Pool Principal Balance 4,398,985,380.51
Series 1997-1 Participation Invested Amount 537,822,368.94
Seller Amount 466,331,476.79
Remittances on the Participation 16,473,857.85
Optimum Monthly Principal 13,792,397.18
Accelerated Principal Payment 114,919.74
Beginning Class A-1 Note Security Balance 313,347,441.04
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 48,667,325.08
Beginning Class A-1 Adjusted Balance 313,347,441.04
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 48,667,325.08
Ending Class A-1 Note Security Balance 299,440,124.12
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 48,782,244.82
Ending Class A-1 Adjusted Balance 299,440,124.12
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 48,782,244.82
Class A-1 Note Rate Capped at 12.5% 5.060630%
Class A-2 Note Rate Capped at 14.0% 5.185630%
Class A-3 Note Rate Capped at 14.0% 5.285630%
Class B Note Rate Capped at 14.0% 5.585630%
Certificate Rate Capped at 15.0% 5.935630%
Class A-1 Interest Due 1,189,301.60
Class A-2 Interest Due 186,682.68
Class A-3 Interest Due 247,367.48
Class B Interest Due 191,028.55
Certificate Yield Due 149,577.88
Class A-1 Interest Paid 1,189,301.60
Class A-2 Interest Paid 186,682.68
Class A-3 Interest Paid 247,367.48
Class B Interest Paid 191,028.55
Certificate Yield Paid 149,577.88
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 13,907,316.92
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 114,919.74
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 1.630073
Principal paid per $1,000 Class A-1 19.061564
Interest paid per $1,000 Class A-2 3.889223
Principal paid per $1,000 Class A-2 0.000000
Interest paid per $1,000 Class A-3 3.964223
Principal paid per $1,000 Class A-3 0.000000
Interest paid per $1,000 Class B 4.189223
Principal paid per $1,000 Class B 0.000000
Yield Paid per $1,000 Certificate 4.451723
Principal Paid per $1,000 Certificate 0.000000
<PAGE>
Bloomberg Summary
Household Consumer Loan Trust 1997-1
Due Period Feb-99
Monthly Payment Rate (including charge offs) 3.95%
Monthly Draw Rate 1.45%
Monthly Net Payment Rate 2.50%
Actual Payment Rate 2.50%
Annualized Cash Yield 19.73%
Annualized Gross Losses 8.22%
Annualized Portfolio Yield 11.51%
Weighted Coupon 5.21%
Excess Servicing 6.30%
Ending Overcollateralization Percentage (3 mo 8.83%
avg)
Trigger Level 4.25%
Excess Overcollateralization 4.58%
Delinquencies:
(Principal/Principal)
30-59 days (Del Stat 1) 5.22%
60-89 days (Del Stat 2) 1.87%
90+ days (Del Stat 3+) 6.32%
Total Participation Balance (ending) 537,822,368.94
