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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 May 17, 2000
HOUSEHOLD AUTOMOTIVE TRUST IV, SERIES 2000-1
(Exact name of registrant as specified in its charter)
HOUSEHOLD FINANCE CORPORATION
(Master Servicer of the Trust)
(Exact name as specified in Master Servicer's charter)
Not
Delaware 333-84129 Applicable
(State or other juris- (Commission File Numbers) (IRS Employer
diction of incorpora- Identification
tion of Master Servicer) Number of
Registrant)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices of (Zip Code)
Master Servicer)
Master Servicer's telephone number, including area code847/564-5000
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits
99(a) Monthly Servicer's Certificate to Trustee dated May 17, 2000
pursuant to Section 4.9 of the Master Sale and Servicing
Agreement dated as of February 24, 2000 (the "Sale and
Servicing Agreement") among Household Automotive Trust IV, as
Issuer, Household Auto Receivables Corporation, as Seller,
Household Finance Corporation, as Master Servicer, and the
Trust and Norwest Bank Minnesota, National Association, as
Indenture Trustee, with respect to the Class A Notes, Series
2000-1.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Master Servicer has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Master Servicer of and on behalf of the
HOUSEHOLD AUTOMOTIVE TRUST IV, SERIES 2000-1
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: May 25, 2000
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EXHIBIT INDEX
Exhibit
Number Exhibit
99(a) Monthly Servicer's Certificate to Trustee dated May 17, 2000
pursuant to Section 4.9 of the Master Sale and Servicing Agreement
dated as of February 24, 2000 (the "Sale and Servicing Agreement")
among Household Automotive Trust IV, as Issuer, Household Auto
Receivables Corporation, as Seller, Household Finance Corporation,
as Master Servicer, and the Trust and Norwest Bank Minnesota,
National Association, as Indenture Trustee, with respect to the
Class A and B Notes, Series 2000-1.
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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 AUTOMOTIVE TRUST IV
Class A Notes, Series 2000-1
1. This Certificate relates to the Distribution May 17, 2000
Date occurring on
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2. Series 2000-1 Information
(a) The amount of Collected Funds with respect to $28,161,291.39
the Collection Period was equal to
(b) The amount of Available Funds with respect to $28,161,296.00
the Collection Period was equal to
(c) The Liquidated Receivables for the Collection $1,868,569.94
Period was equal to
(d) Net Liquidation Proceeds for the Collection $925,673.34
Period was equal to
(i) The annualized net default rate 1.285056%
(e) The principal balance of Series 2000-1
Receivables at the beginning
of the Collection Period was equal to $888,646,370.34
(f) The principal balance of Series 2000-1
Receivables on the last day
of the Collection Period was equal to $872,329,172.08
(g) The aggregate outstanding balance of the
Series 2000-1 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 $38,122,000.00
Distribution Date was equal to
(h) The aggregate outstanding balance of the
Series 2000-1 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 $8,687,000.00
Distribution Date was equal to
(i) The aggregate outstanding balance of the
Series 2000-1 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 $2,544,000.00
Distribution Date was equal to
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(j) The Base Servicing Fee paid on the Distribution $552,665.82
Date was equal to
(k) The Principal Distributable Amount for the $24,623,247.79
Distribution Date was equal to
(l) The Principal Amount Available for the $24,623,247.79
Distribution Date was equal to
(m) The Aggregate Note Principal Balance was equal $592,946,944.26
to
(n) The Aggregate Optimal Note Principal Balance $567,013,961.85
was equal to
(o) The Targeted Credit Enhancement Amount was $331,485,085.39
equal to
(p) The Targeted Credit Enhancement Amount as a
percentage of the Pool
Balance on the Distribution Date was equal to $0.38
(q) The Targeted Reserve Account Balance was equal $26,169,875.16
to
(r) The Reserve Account Deposit Amount for the $0.00
Distribution Date
(s) The Maximum Reserve Account Deposit Amount for $8,306,044.92
the Distribution Date
(t) The Reserve Account Shortfall for the $0.00
Distribution Date
(u) The amount on deposit in the Reserve Account $26,169,875.16
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 equal to 3.000000%
(w) The Targeted Overcollateralization Amount was $305,315,210.23
equal to
(x) The ending overcollateralization was equal to $304,005,475.61
(y) The ending overcollateralization as a
percentage of the Pool Balance on the
Distribution Date was equal to 34.849858%
(z) The Weighed Average Coupon (WAC) was equal to 0
(aa) The Weighed Average Remaining Maturity (WAM) 56
was equal to
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3. Noteholder Information
(a) Class A-1
A. Information Regarding Distributions
1. Total Distribution per $1,000 $177.24496
2. Principal Distribution per $1,000 $173.40315
3. Interest Distribution per $1,000 $3.84181
B. Calculation of Class A-1 Interest Due
1. Class A-1 related Note Rate 6.090000%
2. Class A-1 principal balance - beginning of $107,494,944.26
period
3. Accrual convention Actual/360
4. Days in Interest Period
30
5. Class A-1 interest due $545,536.84
6. Class A-1 interest paid $545,536.84
7. Class A Interest Carryover Shortfall with $0.00
respect to Class A-1
8. Class A-1 unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class A-1 principal balance
1. Class A-1 principal balance - beginning of $107,494,944.26
period
2. Class A-1 principal - amount due $24,623,247.79
3. Class A-1 principal - amount paid $24,623,247.79
4. Class A-1 principal balance - end of period $82,871,696.47
5. Class A Principal Carryover Shortfall with $0.00
respect to Class A-1
6. Class A-1 unpaid principal with respect to $0.00
the Distribution Date
7. Class A-1 Notes as a percentage of the total 14.581777%
Notes outstanding on the Distribution Date
8. Class A-1 Notes as a percentage of the Pool 9.500049%
Balance on the Distribution Date
(b) Class A-2
A. Information Regarding Distributions
1. Total Distribution per $1,000 $5.70833
2. Principal Distribution per $1,000 $0.00000
3. Interest Distribution per $1,000 $5.70833
B. Calculation of Class A-2 Interest Due
1. Class A-2 related Note Rate 6.850000%
2. Class A-2 principal balance - beginning of $153,000,000.00
period
3. Accrual convention 30/360
4. Days in Interest Period
30
5. Class A-2 interest due $873,375.00
6. Class A-2 interest paid $873,375.00
7. Class A Interest Carryover Shortfall with $0.00
respect to Class A-2
8. Class A-2 unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class A-2 principal balance
1. Class A-2 principal balance - beginning of $153,000,000.00
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 period $153,000,000.00
5. Class A Principal Carryover Shortfall with $0.00
respect to Class A-2
6. Class A-2 unpaid principal with respect to $0.00
the Distribution Date
7. Class A-2 Notes as a percentage of the total 26.921278%
Notes outstanding on the Distribution Date
8. Class A-2 Notes as a percentage of the Pool 17.539251%
Balance on the Distribution Date
9. Class A-1 and A-2 Notes as a percentage of 27.039299%
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 $6.08333
2. Principal Distribution per $1,000 $0.00000
3. Interest Distribution per $1,000 $6.08333
B. Calculation of Class A-3 Interest Due
1. Class A-3 related Note Rate 7.300000%
2. Class A-3 principal balance - beginning of $169,000,000.00
period
3. Accrual convention 30/360
4. Class A-3 interest due $1,028,083.33
5. Class A-3 interest paid $1,028,083.33
6. Class A Interest Carryover Shortfall with $0.00
respect to Class A-3
7. Class A-3 unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class A-3 principal balance
1. Class A-3 principal balance - beginning of $169,000,000.00
period
2. Class A-3 principal - amount due $0.00
3. Class A-3 principal - amount paid $0.00
4. Class A-3 principal balance - end of period $169,000,000.00
5. Class A Principal Carryover Shortfall with $0.00
respect to Class A-3
6. Class A-3 unpaid principal with respect to $0.00
the Distribution Date
7. Class A-3 Notes as a percentage of the total 29.736575%
Notes outstanding on the Distribution Date
8. Class A-3 Notes as a percentage of the Pool 19.373421%
Balance on the Distribution Date
9. Class A-1, A-2 and A-3 Notes as a percentage 46.412720%
of the Pool Balance on the Distribution Date
(d) Class A-4
A. Information Regarding Distributions
1. Total Distribution per $1,000 $6.23333
2. Principal Distribution per $1,000 $0.00000
3. Interest Distribution per $1,000 $6.23333
B. Calculation of Class A-4 Interest Due
1. Class A-4 related Note Rate 7.480000%
2. Class A-4 principal balance - beginning of $163,452,000.00
period
3. Accrual convention 30/360
4. Class A-4 interest due $1,018,850.80
5. Class A-4 interest paid $1,018,850.80
6. Class A Interest Carryover Shortfall with $0.00
respect to Class A-4
7. Class A-4 unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class A-4 principal balance
1. Class A-4 principal balance - beginning of $163,452,000.00
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 period $163,452,000.00
5. Class A Principal Carryover Shortfall with $0.00
respect to Class A-4
6. Class A-4 unpaid principal with respect to $0.00
the Distribution Date
7. Class A-4. Notes as a percentage of the total 28.760370%
Notes outstanding on the Distribution Date
8. Class A-4 Notes as a percentage of the Pool 18.737422%
Balance on the Distribution Date
9. Class A-1, A-2, A-3 and A-4 Notes as a 65.150142%
percentage of the Pool Balance on the Distribution
Date
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