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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 June 19, 2000
Distribution Date occurring on
2. Series 1998-1 Information
(a) The amount of Collected Funds with respect $24,830,976.39
to the Collection Period was equal to
(b) The amount of Available Funds with respect $24,830,976.39
to the Collection Period was equal to
(c) The Liquidated Receivables for the $4,392,810.35
Collection Period was equal to
(d) Net Liquidation Proceeds for the $1,858,338.94
Collection Period was equal to
(i) The annualized net default rate 6.882170%
(e) The principal balance of Series 1998-1
Receivables at the beginning
of the Collection Period was equal to $451,916,717.46
(f) The principal balance of Series 1998-1
Receivables on the last day
of the Collection Period was equal to $431,922,468.38
(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 $27,934,000.00
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 $7,905,000.00
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 $4,299,000.00
Distribution Date was equal to
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(j) The Base Servicing Fee paid on the $1,129,791.79
Distribution Date was equal to
(k) The Principal Distributable Amount for the $17,245,039.83
Distribution Date was equal to
(l) The Principal Amount Available for the $22,360,751.64
Distribution Date was equal to
(m) The Aggregate Note Principal Balance was $406,328,664.06
equal to
(n) The Aggregate Optimal Note Balance was $389,083,624.23
equal to
(o) The Targeted Credit Enhancement Amount was $59,389,339.40
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 $2,304,094.83
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 3.831821%
equal to
(w) The Targeted Overcollateralization Amount $42,838,844.15
was equal to
(x) The ending overcollateralization was equal $42,838,844.15
to
(y) The ending overcollateralization as a
percentage of the Pool Balance on the
Distribution Date was equal to 9.918179%
(z) The notional amount of the Interest Rate $212,753,615.52
Cap was equal to
(aa) Payments received under the Interest Rate $62,407.73
Cap were equal to
(ab) Libor Rate used in determining payments
received under the Interest Rate Cap was
equal to 6.570000%
(ac) The Weighed Average Coupon (WAC) was 19.555000%
equal to
(ad) The Weighed Average Remaining Maturity 38
(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 33
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 59.331821%
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 33
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 59.331821%
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 $66.64
2. Principal distribution per $1,000 $60.70
3. Interest distribution per $1,000 $5.94
B. Calculation of Class A-3 Interest
1. Calculation of Class A-3 Note Rate
(a) Libor 6.570000%
(b) Spread 0.450000%
(c) Class A-3 related Note Rate 7.020000%
2. Class A-3 principal balance - $131,921,615.52
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 33
5. Class A-3 interest due $848,915.60
6. Class A-3 interest paid $848,915.60
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 $131,921,615.52
of period
2. Class A-3 principal - amount due $8,680,657.09
3. Class A-3 principal - amount paid $8,680,657.09
4. Class A-3 principal balance - end of $123,240,958.43
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 28.533121%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.331821%
the Pool Balance on the Distribution Date
(d) Class A-4
A. Information Regarding Distributions
1. Total distribution per $1,000 $6.48083
2. Principal distribution per $1,000 $0.00000
3. Interest distribution per $1,000 $6.48083
B. Calculation of Class A-4 Interest
1. Calculation of Class A-4 related Note
Rate
(a) Libor 6.570000%
(b) Spread 0.500000%
(c) Class A-4 related Note Rate 7.070000%
2. Class A-4 principal balance - $80,832,000.00
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 33
5. Class A-4 interest due $523,858.72
6. Class A-4 interest paid $523,858.72
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 18.714470%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 59.331821%
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 $26.73276
2. Principal distribution per $1,000 $24.16151
3. Interest distribution per $1,000 $2.57125
B. Calculation of Class A-5 Interest
1. Class A-5 related Note Rate 5.650000%
2. Class A-5 principal balance - beginning $54,610,657.92
of period
3. Accrual convention 30/360
4. Days in Interest Period 33
4. Class A-5 interest due $257,125.18
5. Class A-5 interest paid $257,125.18
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 $54,610,657.92
of period
2. Class A-5 principal - amount due $2,416,151.15
3. Class A-5 principal - amount paid $2,416,151.15
4. Class A-5 principal balance - end of $52,194,506.77
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 59.331821%
the Pool Balance on the Distribution Date
(f) Class B-1
A. Information Regarding Distributions
1. Total distribution per $1,000 $27.02856
2. Principal distribution per $1,000 $24.16150
3. Interest distribution per $1,000 $2.86706
B. Calculation of Class B-1 Interest
1. Class B-1 related Note Rate 6.300000%
2. Class B-1 principal balance - beginning $54,230,006.10
of period
3. Accrual convention 30/360
4. Days in Interest Period 33
4. Class B-1 interest due $284,707.53
5. Class B-1 interest paid $284,707.53
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 $54,230,006.10
of period
2. Class B-1 principal - amount due $2,399,309.89
3. Class B-1 principal - amount paid $2,399,309.89
4. Class B-1 principal balance - end of $51,830,696.21
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 71.331821%
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 $27.07403
2. Principal distribution per $1,000 $24.16147
3. Interest distribution per $1,000 $2.91256
B. Calculation of Class B-2 Interest
1. Class B-2 related Note Rate 6.400000%
2. Class B-2 principal balance - beginning $51,518,505.78
of period
3. Accrual convention 30/360
4. Days in Interest Period 33
4. Class B-2 interest due $274,765.36
5. Class B-2 interest paid $274,765.36
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 $51,518,505.78
of period
2. Class B-2 principal - amount due $2,279,344.39
3. Class B-2 principal - amount paid $2,279,344.39
4. Class B-2 principal balance - end of $49,239,161.40
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 82.731821%
the Pool Balance on the Distribution Date
(h) Class C
A. Information Regarding Distributions
1. Total distribution per $1,000 $27.11962
2. Principal distribution per $1,000 $24.16154
3. Interest distribution per $1,000 $2.95808
B. Calculation of Class C Interest
1. Class C related Note Rate 6.500000%
2. Class C principal balance - beginning $33,215,878.74
of period
3. Accrual convention 30/360
4. Days in Interest Period 33
4. Class C interest due $179,919.34
5. Class C interest paid $179,919.34
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 $33,215,878.74
period
2. Class C principal - amount due $1,469,577.31
3. Class C principal - amount paid $1,469,577.31
4. Class C principal balance - end of $31,746,301.43
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 90.081821%
of the Pool Balance on the Distribution Date
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