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MASTER SERVICER'S CERTIFICATE
(Delivered pursuant to Section 4.9
of the Master Sale and Servicing Agreement)
HOUSEHOLD FINANCE CORPORATION,
Master Servicer
HOUSEHOLD AUTO RECEIVABLES CORPORATION
HOUSEHOLD AUTOMOBILE REVOLVING TRUST I
Class A, B-1, B-2 and C Notes, Series 1998-1
<S> <C>
1. This Certificate relates to the August 17, 2000
Distribution Date occurring on
2. Series 1998-1 Information
(a) The amount of Collected Funds with respect $21,485,601.28
to the Collection Period was equal to
(b) The amount of Available Funds with respect $21,485,601.28
to the Collection Period was equal to
(c) The Liquidated Receivables for the $4,270,561.15
Collection Period was equal to
(d) Net Liquidation Proceeds for the $1,553,734.10
Collection Period was equal to
(i) The annualized net default rate 8.067356%
(e) The principal balance of Series 1998-1
Receivables at the beginning
of the Collection Period was equal to $412,995,914.13
(f) The principal balance of Series 1998-1
Receivables on the last day
of the Collection Period was equal to $395,247,188.97
(g) The aggregate outstanding balance of the
Series 1998-1 Receivables which were one
payment (1-29 days) delinquent as of
the close of business on the last day of the
Collection Period with respect to such $35,470,000.00
Distribution Date was equal to
(h) The aggregate outstanding balance of the
Series 1998-1 Receivables which were two
payments (30-59 days) delinquent as of
the close of business on the last day of the
Collection Period with respect to such $9,768,000.00
Distribution Date was equal to
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(i) The aggregate outstanding balance of the
Series 1998-1 Receivables which were three or
more payments (60+ days) delinquent as
of the close of business on the last day of the
Collection Period with respect to such $5,024,000.00
Distribution Date was equal to
(j) The Base Servicing Fee paid on the $1,032,489.79
Distribution Date was equal to
(k) The Principal Distributable Amount for the $15,308,275.45
Distribution Date was equal to
(l) The Principal Amount Available for the $19,308,540.87
Distribution Date was equal to
(m) The Aggregate Note Principal Balance was $372,759,471.19
equal to
(n) The Aggregate Optimal Note Balance was $357,451,195.74
equal to
(o) The Targeted Credit Enhancement Amount was $54,346,488.48
equal to
(p) The Targeted Reserve Account Balance was $16,550,495.25
equal to
(q) The Targeted Credit Enhancement Amount as
a percentage of the Pool
Balance on the Distribution Date was 13.750000%
equal to
(r) The Reserve Account Deposit Amount for the $0.00
Distribution Date
(s) The Maximum Reserve Account Deposit Amount $1,496,359.77
for the Distribution Date
(t) The Reserve Account Shortfall for the $0.00
Distribution Date
(u) The amount on deposit in the Reserve $16,550,495.25
Account after distributions was equal to
(v) The amount on deposit in the Reserve
Account as a percentage of the Pool
Balance on the Distribution Date was 4.187378%
equal to
(w) The Targeted Overcollateralization Amount $37,795,993.23
was equal to
(x) The ending overcollateralization was equal $37,795,993.23
to
(y) The ending overcollateralization as a
percentage of the Pool Balance on the
Distribution Date was equal to 9.562622%
(z) The notional amount of the Interest Rate $195,855,849.27
Cap was equal to
(aa) Payments received under the Interest Rate $63,455.94
Cap were equal to
(ab) Libor Rate used in determining payments
received under the Interest Rate Cap was
equal to 6.626250%
(ac) The Weighed Average Coupon (WAC) was 19.517338%
equal to
(ad) The Weighed Average Remaining Maturity 36
(WAM) was equal to
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3. Noteholder Information
(a) Class A-1
A. Information Regarding Distributions
B. Calculation of Class A-1 Interest 0.000000%
1. Class A-1 related Note Rate 5.330000%
2. Class A-1 principal balance - beginning $0.00
of period
3. Accrual convention Actual/360
4. Days in Interest Period 31
5. Class A-1 interest due $0.00
6. Class A-1 interest paid $0.00
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-1
8. Class A-1 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-1 principal balance
1. Class A-1 principal balance - beginning $0.00
of period
2. Class A-1 principal - amount due $0.00
3. Class A-1 principal - amount paid $0.00
4. Class A-1 principal balance - end of $0.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-1
6. Class A-1 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-1 Notes as a percentage of the 0.000000%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.687378%
the Pool Balance on the Distribution Date
(b) Class A-2
A. Information Regarding Distributions
1. Total distribution per $1,000 $0.00
2. Principal distribution per $1,000 $0.00
3. Interest distribution per $1,000 $0.00
B. Calculation of Class A-2 Interest
1. Class A-2 related Note Rate 5.5140000%
2. Class A-2 principal balance - beginning $0.00
of period
3. Accrual convention Actual/360
4. Days in Interest Period 31
5. Class A-2 interest due $0.00
6. Class A-2 interest paid $0.00
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-2
8. Class A-2 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-2 principal balance
1. Class A-2 principal balance - beginning $0.00
of period
2. Class A-2 principal - amount due $0.00
3. Class A-2 principal - amount paid $0.00
4. Class A-2 principal balance - end of $0.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-2
6. Class A-2 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-2 Notes as a percentage of the 0.000000%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.687378%
the Pool Balance on the Distribution Date
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(c) Class A-3
A. Information Regarding Distributions
1. Total distribution per $1,000 $58.79
2. Principal distribution per $1,000 $53.89
3. Interest distribution per $1,000 $4.90
B. Calculation of Class A-3 Interest
1. Calculation of Class A-3 Note Rate
(a) Libor 6.626250%
(b) Spread 0.450000%
(c) Class A-3 related Note Rate 7.076250%
2. Class A-3 principal balance - $115,023,849.27
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 31
5. Class A-3 interest due $700,890.64
6. Class A-3 interest paid $700,890.64
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-3
8. Class A-3 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-3 principal balance
1. Class A-3 principal balance - beginning $115,023,849.27
of period
2. Class A-3 principal - amount due $7,705,745.60
3. Class A-3 principal - amount paid $7,705,745.60
4. Class A-3 principal balance - end of $107,318,103.67
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-3
6. Class A-3 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-3 Notes as a percentage of the 27.152148%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.687378%
the Pool Balance on the Distribution Date
(d) Class A-4
A. Information Regarding Distributions
1. Total distribution per $1,000 $6.13649
2. Principal distribution per $1,000 $0.00000
3. Interest distribution per $1,000 $6.13649
B. Calculation of Class A-4 Interest
1. Calculation of Class A-4 related Note
Rate
(a) Libor 6.626250%
(b) Spread 0.500000%
(c) Class A-4 related Note Rate 7.126250%
2. Class A-4 principal balance - $80,832,000.00
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 31
5. Class A-4 interest due $496,025.01
6. Class A-4 interest paid $496,025.01
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-4
8. Class A-4 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-4 principal balance
1. Class A-4 principal balance - beginning $80,832,000.00
of period
2. Class A-4 principal - amount due $0.00
3. Class A-4 principal - amount paid $0.00
4. Class A-4 principal balance - end of $80,832,000.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-4
6. Class A-4 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-4 Notes as a percentage of the 20.450999%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.687378%
the Pool Balance on the Distribution Date
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(e) Class A-5
A. Information Regarding Distributions
1. Total distribution per $1,000 $23.79777
2. Principal distribution per $1,000 $21.44797
3. Interest distribution per $1,000 $2.34981
B. Calculation of Class A-5 Interest
1. Class A-5 related Note Rate 5.650000%
2. Class A-5 principal balance - beginning $49,907,378.32
of period
3. Accrual convention 30/360
4. Days in Interest Period 31
4. Class A-5 interest due $234,980.57
5. Class A-5 interest paid $234,980.57
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-5
8. Class A-5 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-5 principal balance
1. Class A-5 principal balance - beginning $49,907,378.32
of period
2. Class A-5 principal - amount due $2,144,796.86
3. Class A-5 principal - amount paid $2,144,796.86
4. Class A-5 principal balance - end of $47,762,581.46
period
5. Class A-5 Principal Carryover Shortfall $0.00
6. Class A-5 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-5 Notes as a percentage of the 12.084231%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.687378%
the Pool Balance on the Distribution Date
(f) Class B-1
A. Information Regarding Distributions
1. Total distribution per $1,000 $24.06810
2. Principal distribution per $1,000 $21.44796
3. Interest distribution per $1,000 $2.62014
B. Calculation of Class B-1 Interest
1. Class B-1 related Note Rate 6.300000%
2. Class B-1 principal balance - beginning $49,559,509.70
of period
3. Accrual convention 30/360
4. Days in Interest Period 31
4. Class B-1 interest due $260,187.43
5. Class B-1 interest paid $260,187.43
6. Class B-1 Interest Carryover Shortfall $0.00
7. Class B-1 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class B-1 principal balance
1. Class B-1 principal balance - beginning $49,559,509.70
of period
2. Class B-1 principal - amount due $2,129,847.02
3. Class B-1 principal - amount paid $2,129,847.02
4. Class B-1 principal balance - end of $47,429,662.68
period
5. Class B-1 Principal Carryover Shortfall $0.00
6. Class B-1 unpaid principal with respect $0.00
to the Distribution Date
7. Class B-1 Notes as a percentage of the 12.000000%
Pool Balance on the Distribution Date
8. Class A and B-1 Notes as a percentage of 71.687378%
the Pool Balance on the Distribution Date
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(g) Class B-2
A. Information Regarding Distributions
1. Total distribution per $1,000 $24.10965
2. Principal distribution per $1,000 $21.44793
3. Interest distribution per $1,000 $2.66172
B. Calculation of Class B-2 Interest
1. Class B-2 related Note Rate 6.400000%
2. Class B-2 principal balance - beginning $47,081,534.21
of period
3. Accrual convention 30/360
4. Days in Interest Period 31
4. Class B-2 interest due $251,101.52
5. Class B-2 interest paid $251,101.52
6. Class B-2 Interest Carryover Shortfall $0.00
7. Class B-2 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class B-2 principal balance
1. Class B-2 principal balance - beginning $47,081,534.21
of period
2. Class B-2 principal - amount due $2,023,354.67
3. Class B-2 principal - amount paid $2,023,354.67
4. Class B-2 principal balance - end of $45,058,179.54
period
5. Class B-2 Principal Carryover Shortfall $0.00
6. Class B-2 unpaid principal with respect $0.00
to the Distribution Date
7. Class B-2 Notes as a percentage of the 11.400000%
Pool Balance on the Distribution Date
8. Class A and B Notes as a percentage of 83.087378%
the Pool Balance on the Distribution Date
(h) Class C
A. Information Regarding Distributions
1. Total distribution per $1,000 $24.15131
2. Principal distribution per $1,000 $21.44799
3. Interest distribution per $1,000 $2.70332
B. Calculation of Class C Interest
1. Class C related Note Rate 6.500000%
2. Class C principal balance - beginning $30,355,199.69
of period
3. Accrual convention 30/360
4. Days in Interest Period 31
4. Class C interest due $164,424.00
5. Class C interest paid $164,424.00
6. Class C Interest Carryover Shortfall $0.00
7. Class C unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class C principal balance
1. Class C principal balance - beginning of $30,355,199.69
period
2. Class C principal - amount due $1,304,531.30
3. Class C principal - amount paid $1,304,531.30
4. Class C principal balance - end of $29,050,668.39
period
5. Class C Principal Carryover Shortfall $0.00
6. Class C unpaid principal with respect to $0.00
the Distribution Date
7. Class C Notes as a percentage of the 7.350000%
Pool Balance on the Distribution Date
8. Class A, B and C Notes as a percentage 90.437378%
of the Pool Balance on the Distribution Date
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