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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
1. This Certificate relates to the September 18, 2000
Distribution Date occurring on
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2. Series 1998-1 Information
(a) The amount of Collected Funds with respect $21,783,926.15
to the Collection Period was equal to
(b) The amount of Available Funds with respect $21,783,926.15
to the Collection Period was equal to
(c) The Liquidated Receivables for the $4,181,159.35
Collection Period was equal to
(d) Net Liquidation Proceeds for the $1,731,645.83
Collection Period was equal to
(i) The annualized net default rate 7.608963%
(e) The principal balance of Series 1998-1
Receivables at the beginning
of the Collection Period was equal to $395,247,188.97
(f) The principal balance of Series 1998-1
Receivables on the last day
of the Collection Period was equal to $377,372,165.77
(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 $34,775,000.00
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 $9,534,000.00
Distribution Date was equal to
(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 $5,135,000.00
Distribution Date was equal to
(j) The Base Servicing Fee paid on the $988,117.97
Distribution Date was equal to
(k) The Principal Distributable Amount for the $15,417,207.51
Distribution Date was equal to
(l) The Principal Amount Available for the $19,564,049.15
Distribution Date was equal to
(m) The Aggregate Note Principal Balance was $357,451,195.74
equal to
(n) The Aggregate Optimal Note Balance was $342,033,988.23
equal to
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(o) The Targeted Credit Enhancement Amount was $51,888,672.79
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 $1,627,145.47
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 4.385722%
equal to
(w) The Targeted Overcollateralization Amount $35,338,177.54
was equal to
(x) The ending overcollateralization was equal $35,338,177.54
to
(y) The ending overcollateralization as a
percentage of the Pool Balance on the
Distribution Date was equal to 9.364278%
(z) The notional amount of the Interest Rate $188,150,103.67
Cap was equal to
(aa) Payments received under the Interest Rate $61,880.48
Cap were equal to
(ab) Libor Rate used in determining payments
received under the Interest Rate Cap was
equal to 6.620000%
(ac) The Weighed Average Coupon (WAC) was 19.497000%
equal to
(ad) The Weighed Average Remaining Maturity 36
(WAM) was equal to
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 32
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
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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 59.885722%
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 32
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 59.885722%
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 $58.99
2. Principal distribution per $1,000 $54.27
3. Interest distribution per $1,000 $4.72
B. Calculation of Class A-3 Interest
1. Calculation of Class A-3 Note Rate
(a) Libor 6.620000%
(b) Spread 0.450000%
(c) Class A-3 related Note Rate 7.070000%
2. Class A-3 principal balance - $107,318,103.67
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 32
5. Class A-3 interest due $674,434.66
6. Class A-3 interest paid $674,434.66
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 $107,318,103.67
of period
2. Class A-3 principal - amount due $7,760,578.87
3. Class A-3 principal - amount paid $7,760,578.87
4. Class A-3 principal balance - end of $99,557,524.80
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 26.381788%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.885722%
the Pool Balance on the Distribution Date
(d) Class A-4
A. Information Regarding Distributions
1. Total distribution per $1,000 $6.32889
2. Principal distribution per $1,000 $0.00000
3. Interest distribution per $1,000 $6.32889
B. Calculation of Class A-4 Interest
1. Calculation of Class A-4 related Note
Rate
(a) Libor 6.620000%
(b) Spread 0.500000%
(c) Class A-4 related Note Rate 7.120000%
2. Class A-4 principal balance - $80,832,000.00
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 32
5. Class A-4 interest due $511,576.75
6. Class A-4 interest paid $511,576.75
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 21.419704%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.885722%
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 $23.84941
2. Principal distribution per $1,000 $21.60059
3. Interest distribution per $1,000 $2.24882
B. Calculation of Class A-5 Interest
1. Class A-5 related Note Rate 5.650000%
2. Class A-5 principal balance - beginning $47,762,581.46
of period
3. Accrual convention 30/360
4. Days in Interest Period 32
4. Class A-5 interest due $224,882.15
5. Class A-5 interest paid $224,882.15
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 $47,762,581.46
of period
2. Class A-5 principal - amount due $2,160,059.01
3. Class A-5 principal - amount paid $2,160,059.01
4. Class A-5 principal balance - end of $45,602,522.45
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 59.885722%
the Pool Balance on the Distribution Date
(f) Class B-1
A. Information Regarding Distributions
1. Total distribution per $1,000 $24.10812
2. Principal distribution per $1,000 $21.60058
3. Interest distribution per $1,000 $2.50753
B. Calculation of Class B-1 Interest
1. Class B-1 related Note Rate 6.300000%
2. Class B-1 principal balance - beginning $47,429,662.68
of period
3. Accrual convention 30/360
4. Days in Interest Period 32
4. Class B-1 interest due $249,005.73
5. Class B-1 interest paid $249,005.73
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 $47,429,662.68
of period
2. Class B-1 principal - amount due $2,145,002.78
3. Class B-1 principal - amount paid $2,145,002.78
4. Class B-1 principal balance - end of $45,284,659.90
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 71.885722%
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 $24.14788
2. Principal distribution per $1,000 $21.60055
3. Interest distribution per $1,000 $2.54733
B. Calculation of Class B-2 Interest
1. Class B-2 related Note Rate 6.400000%
2. Class B-2 principal balance - beginning $45,058,179.54
of period
3. Accrual convention 30/360
4. Days in Interest Period 32
4. Class B-2 interest due $240,310.29
5. Class B-2 interest paid $240,310.29
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 $45,058,179.54
of period
2. Class B-2 principal - amount due $2,037,752.64
3. Class B-2 principal - amount paid $2,037,752.64
4. Class B-2 principal balance - end of $43,020,426.90
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 83.285722%
the Pool Balance on the Distribution Date
(h) Class C
A. Information Regarding Distributions
1. Total distribution per $1,000 $24.18776
2. Principal distribution per $1,000 $21.60061
3. Interest distribution per $1,000 $2.58714
B. Calculation of Class C Interest
1. Class C related Note Rate 6.500000%
2. Class C principal balance - beginning $29,050,668.39
of period
3. Accrual convention 30/360
4. Days in Interest Period 32
4. Class C interest due $157,357.79
5. Class C interest paid $157,357.79
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 $29,050,668.39
period
2. Class C principal - amount due $1,313,814.20
3. Class C principal - amount paid $1,313,814.20
4. Class C principal balance - end of $27,736,854.19
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 90.635722%
of the Pool Balance on the Distribution Date
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