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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report February 22, 2000
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(Exact name of registrant as specified in Department of the
Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
Delaware 333-84611 Applied For
(State or other juris- (Commission File Number (IRS Employer
diction of incorporation of Registrant) Identification
of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Servicer's telephone number, including area code 847/564-5000
Exhibit Index appears on page 3
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
February 22, 2000 pursuant to Sections 4.01
and 5.02 of the Pooling and Servicing
Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC
Revolving Corporation, as Seller, Household
Finance Corporation, as Servicer, and Bank
One, National Association, as Trustee, with
respect to Class A-1, Class A-2, Class A-3,
Class A-4, Class M-1 and Class M-2
Certificates.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Servicer has duly caused this report to be signed on
behalf of the Household Home Equity Loan Trust 1999-1 by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD HOME EQUITY LOAN TRUST 1999-1
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: February 22, 2000
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EXHIBIT INDEX
Exhibit
Number Exhibit
99(a) Monthly Servicing Report to Trustee dated February 22, 2000
pursuant to Sections 4.01 and 5.02 of the Pooling and
Servicing Agreement dated as of November 1, 1999 (the
"Pooling and Servicing Agreement") among HFC Revolving
Corporation, as Seller, Household Finance Corporation, as
Servicer, and Bank One, National Association, as Trustee,
with respect to the Class A-1, Class A-2, Class A-3, Class
A-4, Class M-1 and Class M-2 Certificates.
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<TABLE>
<CAPTION>
Household Home Equity Loan Trust 1999-1
<S> <C>
Distribution Number 3
Beginning Date of Accrual Period 01/01/00
End Date of Accrual Period 01/31/00
Distribution Date 02/22/00
Previous Distribution Date 01/20/00
Funds Disbursement
Available Funds for Distribution 15,129,498.29
Principal Collections 10,383,295.93
Interest Collections 4,746,202.36
Distribution of Interest
Collections
Servicing Fee 210,055.88
Extra Principal 1,702,979.72
Distribution Amount
Interest Paid 2,833,166.76
To Class R -
Distribution of Principal
Collections
Principal Paid to 10,383,295.93
Certificates
Overcollateralization -
Release Amount
Balance Reconciliation
Begin Principal Balance 504,134,113.96
Adjustments 0.00
Principal Collections (including (10,383,295.93)
repurchases)
Charge off Amount -
End Principal Balance 493,750,818.03
Collateral Performance
Cash Yield (% of beginning balance) 11.30%
Charge off Amount (% of beginning balane) 0.00%
Net Yield 11.30%
Delinquent Loans (contractual)
30-59 days principal balance of loan 17,381,970.55
30-59 days number of loans 252
60-89 days principal balance of loan 1,470,266.00
60-89 days number of loans 19
90+ days number of loans 15
90+ days principal balance of loan 1,241,184.63
Number of Loans that went into REO 1
Principal Balance of Loans that went 168,420.87
into REO
Principal Balance of all REO 168,420.87
Overcollateralization Reconcilliation
Begin OC Amount 29,881,740.75
Target OC Amount 50,039,651.27
OC Deficiency 20,157,910.51
OC Release Amount -
End OC Amount 31,584,720.47
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Loan Repurchase Detail
Number Purchased for pursuant to 2.02
Principal Balance Purchasesed pursant to 2.02
Other
Stepdown No
Trigger Event No
Event of Default No
Class A-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 56.060903
2. Principal Distribution per $1,000 50.996944
3. Interest Distribution per $1,000 5.063959
B. Calculation of Class A-1 Interest Due & Paid
1. Class A-1 related Note Rate 6.83%
2. Accrual Convention 30/360
3. Class A-1 Principal Balance, 210,862,373.21
BOP
4. Class A-1 Interest Carryover -
Shortfall, BOP
5. Class A-1 Interest Due 1,200,158.34
6. Class A-1 Interest Paid 1,200,158.34
7. Class A-1 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class A-1 Principal Due & Paid
1. Class A-1 Principal Balance, 210,862,373.21
BOP
2. Class A-1 Principal Due
3. Class A-1 Principal Paid 12,086,275.65
4. Class A-1 Principal Balance, 198,776,097.56
EOP
5. Class A-1 Notes Balance as a % 0.430096666
of the Total Certificate Balance, EOP
6. Class A-1 Notes Balance as a 0.402583834
percentage of the Pool Balance, EOP
Class A-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 5.791667
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 5.791667
B. Calculation of Class A-2 Interest Due & Paid
1. Class A-2 related Note Rate 6.95%
2. Accrual Convention 30/360
3. Class A-2 Principal Balance, 62,000,000.00
BOP
4. Class A-2 Interest Carryover -
Shortfall, BOP
5. Class A-2 Interest Due 359,083.33
6. Class A-2 Interest Paid 359,083.33
7. Class A-2 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class A-2 Principal Due & Paid
1. Class A-2 Principal Balance, BOP 62,000,000.00
2. Class A-2 Principal Due
3. Class A-2 Principal Paid -
4. Class A-2 Principal Balance, EOP 62,000,000.00
5. Class A-2 Notes Balance as a 0.134150904
percentage of the Total Certificate Balance
6. Class A-2 Notes Balance as a 0.125569412
percentage of the Pool Balance, EOP
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Class A-3 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.008333
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.008333
B. Calculation of Class A-3 Interest Due & Paid
1. Class A-3 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-3 Principal Balance, 90,000,000.00
BOP
4. Class A-3 Interest Carryover -
Shortfall, BOP
5. Class A-3 Interest Due 540,750.00
6. Class A-3 Interest Paid 540,750.00
7. Class A-3 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class A-3 Principal Due & Paid
1. Class A-3 Principal Balance, 90,000,000.00
BOP
2. Class A-3 Principal Due
3. Class A-3 Principal Paid -
4. Class A-3 Principal Balance, 90,000,000.00
EOP
5. Class A-3 Notes Balance as a 0.194735184
percentage of the Total Certificate Balance
6. Class A-3 Notes Balance as a 0.182278179
percentage of the Pool Balance, EOP
Class A-4 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.008333
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.008333
B. Calculation of Class A-4 Interest Due & Paid
1. Class A-4 related Note Rate 7.21%
2. Accrual Convention 30/360
3. Class A-4 Principal Balance, 42,920,000.00
BOP
4. Class A-4 Interest Carryover -
Shortfall, BOP
5. Class A-4 Interest Due 257,877.67
6. Class A-4 Interest Paid 257,877.67
7. Class A-4 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class A-4 Principal Due & Paid
1. Class A-4 Principal Balance, 42,920,000.00
BOP
2. Class A-4 Principal Due
3. Class A-4 Principal Paid -
4. Class A-4 Principal Balance, 42,920,000.00
EOP
5. Class A-4 Notes Balance as a 0.092867045
percentage of the Total Certificate Balance
6. Class A-4 Notes Balance as a 0.086926438
percentage of the Pool Balance, EOP
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Class M-1 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 6.525000
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 6.525000
B. Calculation of Class M-1 Interest Due & Paid
1. Class M-1 related Note Rate 7.83%
2. Accrual Convention 30/360
3. Class M-1 Principal Balance, 35,550,000.00
BOP
4. Class M-1 Interest Carryover -
Shortfall, BOP
5. Class M-1 Interest Due 231,963.75
6. Class M-1 Interest Paid 231,963.75
7. Class M-1 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class M-1 Principal Due & Paid
1. Class M-1 Principal Balance, 35,550,000.00
BOP
2. Class M-1 Principal Due
3. Class M-1 Principal Paid -
4. Class M-1 Principal Balance, 35,550,000.00
EOP
5. Class M-1 Notes Balance as a 0.076920398
percentage of the Total Certificate Balance
6. Class M-1 Notes Balance as a 0.071999881
percentage of the Pool Balance, EOP
Class M-2 Noteholder's Statement
A. Information on Distributions
1. Total Distribution per $1,000 7.391667
2. Principal Distribution per $1,000 -
3. Interest Distribution per $1,000 7.391667
B. Calculation of Class M-2 Interest Due & Paid
1. Class M-2 related Note Rate 8.87%
2. Accrual Convention 30/360
3. Class M-2 Principal Balance, 32,920,000.00
BOP
4. Class M-2 Interest Carryover -
Shortfall, BOP
5. Class M-2 Interest Due 243,333.67
6. Class M-2 Interest Paid 243,333.67
7. Class M-2 unpaid Carryover -
Shortfall, EOP
C. Calculation of Class M-2 Principal Due & Paid
1. Class M-2 Principal Balance, 32,920,000.00
BOP
2. Class M-2 Principal Due
3. Class M-2 Principal Paid -
4. Class M-2 Principal Balance, 32,920,000.00
EOP
5. Class M-2 Notes Balance as a 0.071229803
percentage of the Total Certificate Balance
6. Class M-2 Notes Balance as a 0.066673307
percentage of the Pool Balance, EOP
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