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Previous: HOUSEHOLD FINANCE CORP HOUSEHOLD AFF CRE CAR MAS TR I, 8-K, EX-99, 2000-11-27 |
Next: KEELEY SMALL CAP VALUE FUND INC, NSAR-B, 2000-11-27 |
MONTHLY SERVICER'S CERTIFICATE |
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(Delivered pursuant to subsection 3.04(b) |
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of the Pooling and Servicing Agreement |
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HOUSEHOLD FINANCE CORPORATION |
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HOUSEHOLD AFFINITY FUNDING CORPORATION |
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HOUSEHOLD AFFINITY CREDIT CARD MASTER TRUST 1 |
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Class A and Class B Certificates, Series 1998-1 |
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1.This Certificate relates to the Distribution Date occurring on November 15, 2000. |
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2.Trust Information. |
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(a)The aggregate amount of Collections processed for the Due Period |
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preceding such Distribution Date was equal to ................................................................................. |
$2,083,777,324.81 |
(b)The aggregate amount of such Collections with respect to Principal |
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Receivables for the Due Period preceding such Distribution Date was |
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equal to ............................................................................................................................................................. |
$1,959,592,412.87 |
(i)The payment rate, [ ( (b) + (c)(ii) + (c)(iii) ) / (f) ], is .............. |
31.40% |
(c)The aggregate amount of such Collections with respect to Finance Charge |
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and Administrative Receivables and the Defaulted Amount for the Due Period preceding |
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such Distribution Date was equal to ..................................................................................................... |
$124,184,911.94 |
(i)The gross cash yield, [ ((ii)+(iii)+(iv)+(v)) * 12 / (f) ], is ...................................... |
22.40% |
(ii)The amount of such aggregate with respect to Finance Charge was equal to |
$73,954,522.40 |
(iii)The amount of such aggregate with respect to Fees was equal to ... |
$19,232,636.81 |
(iv)The amount of such aggregate with respect to Interchange was equal to .. |
$28,422,418.73 |
(v)The amount of such aggregate with respect to Other Recoveries was equal to .. |
$463,560.00 |
(vi)The amount of such aggregate with respect to Principal Recoveries was equal to .. |
$2,111,774.00 |
(d)The Gross Defaulted Amount for the preceding Due Period is ............................................................... |
$29,451,318.68 |
(i)The annualized default rate, (d) *12 / (f), is ............................................ |
5.41% |
(ii)The annualized net default rate, [(d)-(c)(vi)] *12 / (f), is ............................................ |
5.02% |
(e)The Portfolio Yield for such Distribution Date ............................................................................... |
17.39% |
(f)The total amount of Principal Receivables in the Trust at the beginning |
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of the preceding Due Period is equal to ............................................................................................. |
$6,538,502,718.34 |
(g)The total amount of Principal Receivables as of the last day of the |
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immediately preceding Due Period is ................................................................................................. |
$6,513,025,256.22 |
(h)The average amount of Principal Receivables in the Trust during the |
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preceding Due Period (the sum of the amounts in clause (f) and the |
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amount in clause (g) divided by 2) is equal to ................................................................................... |
$6,525,763,987.28 |
(i)The total amount of Finance Charge and Administrative Receivables in the |
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Trust as of the last day of the immediately preceding Due Period is ..................................... |
$147,673,094.01 |
(j)The aggregate outstanding gross balance of the Accounts which were |
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one payment (1-29 days) delinquent as of the close of business on the last |
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day of the calendar month preceding such Distribution Date was equal to ........................ |
$192,671,522.21 |
(k)The aggregate outstanding gross balance of the Accounts which were |
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two payments (30-59 days) delinquent as of the close of business on the last |
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day of the calendar month preceding such Distribution Date was equal to ........................ |
$75,118,988.79 |
(l)The aggregate outstanding gross balance of the Accounts which were |
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three or more payments (60+ days) delinquent as of the close of business on the last |
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day of the calendar month preceding such Distribution Date was equal to ........................ |
$156,859,969.81 |
(m)The aggregate amount of Trust Excess Principal Collections for such |
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Distribution Date is................................................................................ |
$1,194,878,523.68 |
(n)The aggregate amount of Principal Shortfalls for such Distribution Date is ...................... |
$253,441,092.79 |
3.Group Three Information |
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(a)The Average Rate for Group Three (the weighted average Certificate Rate |
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reduced to take into account any payments made pursuant to interest |
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rate agreements, if any ) is equal to .................................................................................................. |
6.82% |
(b)Group Three Total Investor Collections is equal to ....................................................................... |
$309,175,966.65 |
(c)Group Three Investor Principal Collections is equal to ............................................................... |
$290,750,298.17 |
(d)Group Three Investor Finance Charge and Administrative Collections is equal to ........... |
$18,425,668.48 |
(e)Group Three Investor Additional Amounts is equal to ................................................................... |
$0.00 |
(f)Group Three Investor Default Amount is equal to ........................................................................... |
$4,369,775.89 |
(g)Group Three Investor Monthly Fees is equal to ................................................................................ |
$1,616,893.73 |
(h)Group Three Investor Monthly Interest is equal to ........................................................................... |
$5,515,308.46 |
4.Series 1998-1 Information |
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(a)The Series Adjusted Portfolio Yield for the Due Period preceding such |
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Distribution Date was equal to .............................................................................................................. |
17.39% |
(b)The Series 1998-1 Allocation Percentage with respect to the Due |
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Period preceding such Distribution Date was equal to ............................................................... |
17.03% |
(c)The Floating Allocation Percentage for the Due Period preceding such |
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Distribution Date was equal to ............................................................................................................... |
87.13% |
(d)The aggregate amount of Reallocated Finance Charge and |
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Administrative Collections for the Due Period preceding |
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such Distribution Date is equal to ......................................................................................................... |
$18,425,668.48 |
(e)The Floating Allocation Percentage of Series Allocable Finance |
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Charge and Administrative Collections for the Due Period preceding |
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such Distribution Date is equal to........................................................................................................ |
$18,425,668.48 |
(f)Class A Invested Amount ...................................................................................................................... |
$844,000,000.00 |
(g)The Class A Invested Percentage with respect to the Due Period |
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preceding such Distribution Date was equal to ............................................................................... |
87.00% |
(h)The Class A Invested Percentage of the amount set forth in Item 4(d) |
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above was equal to .................................................................................................................................... |
$16,029,979.67 |
(i)The amount of Class A Monthly Interest for such Distribution Date is |
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equal to............................................................................................................................................................. |
$4,740,466.67 |
(j)The amount of any Class A Monthly Interest previously due but not |
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distributed on a prior Distribution Date is equal to ....................................................................... |
$0.00 |
(k)The amount of Class A Additional Interest for such Distribution Date |
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is equal to ........................................................................................................................................................ |
$0.00 |
(l)The amount of any Class A Additional Interest previously due but not |
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distributed on a prior Distribution Date is equal to........................................................................ |
$0.00 |
(m)The Class A Investor Default Amount for such Distribution Date is |
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equal to ........................................................................................................................................................... |
$3,801,621.57 |
(n)The Allocable Servicing Fee for such Distribution Date is equal to....................................... |
$1,616,893.73 |
(o)The Class A Required Amount, if any, with respect to such |
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Distribution Date is equal to................................................................................................................ |
$0.00 |
(p)Class B Invested Amount ....................................................................................................................... |
$46,100,000.00 |
(q)The Class B Invested Percentage for the Due Period preceding such |
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Distribution Date was equal to.............................................................................................................. |
4.75% |
(r)The Class B Invested Percentage of the amount set forth in Item 4(d) |
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above is equal to........................................................................................................................................... |
$875,571.16 |
(s)The amount of Class B Monthly Interest for such Distribution Date is |
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equal to............................................................................................................................................................. |
$266,611.67 |
(t)The amount of any Class B Monthly Interest previously due but not |
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distributed on a prior Distribution Date is equal to.......................................................................... |
$0.00 |
(u)The amount of Class B Additional Interest for such Distribution Date |
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is equal to....................................................................................................................................................... |
$0.00 |
(v)The amount of any Class B Additional Interest previously due but not |
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distributed on a prior Distribution Date is equal to......................................................................... |
$0.00 |
(w)Class B Investor Default Amount for such Distribution Date is equal |
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to...................................................................................................................................................................... |
$207,647.81 |
(x)The Collateral Invested Percentage of the amount set forth in Item 4(d) |
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above is equal to............................................................................................................................................ |
$1,520,117.65 |
(y)The Series 1998-1 Principal Shortfall for such Distribution Date is |
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equal to........................................................................................................................................................... |
$0.00 |
(z)The Series 1998-1 Excess Principal Collections is equal to......................................................... |
$0.00 |
(aa)The amount of Excess Finance Charge and Administrative Collections |
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with respect to such Distribution Date is equal to.......................................................................... |
$8,000,074.84 |
(bb)The amount of Excess Finance Charge and Administrative Collections |
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referred to in Item 4(aa) will be available to be distributed on such |
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Distribution Date to fund or reimburse the following items: |
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(i)to fund the Class A Required Amount, if any, with |
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respect to such Distribution Date................................................. |
$0.00 |
(ii)to reimburse Class A Investor Charge-Offs......................... |
$0.00 |
(iii)to pay current or overdue Class B Monthly Interest, |
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Class B Additional Interest or the Cumulative |
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Excess Interest Amount .................................................................... |
$0.00 |
(iv)to fund the Class B Investor Default Amount with |
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respect to such Distribution Date.................................................. |
$207,647.81 |
(v)to reimburse certain previous reductions in the Class B |
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Invested Amount ............................................................................ |
$0.00 |
(vi)to pay the Collateral Monthly Interest for such Distribution |
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Date equal to...................................................................... |
$508,230.12 |
(vii)to pay any portion of the Allocable Servicing Fee not |
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paid pursuant to clause (i) above................................................... |
$0.00 |
(viii)to fund the Collateral Investor Default Amount with |
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respect to such Distribution Date.................................................. |
$360,506.51 |
(ix)to reimburse certain previous reductions in the Collateral |
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Invested Amount ............................................................................ |
$0.00 |
(x)to make any required deposit in the Cash Collateral Account.. |
$0.00 |
(xi)to make any required deposit to the Reserve Account .................................... |
$0.00 |
(cc)The amount of Subordinated Principal Collections with respect to such |
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Distribution Date is equal to..................................................................................................................... |
$37,803,091.80 |
(dd)The Principal Allocation Percentage is equal to ............................................................................. |
87.13% |
(ee)The total amount to be distributed to Class A Certificateholders on |
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such Distribution Date in payment of principal is equal to.......................................................... |
$0.00 |
(ff)The total amount to be distributed to Class B Certificateholders on |
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such Distribution Date in payment of principal is equal to.......................................................... |
$0.00 |
(gg)The amount of Class A Investor Charge-Offs for such Distribution |
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Date is equal to............................................................................................................................................. |
$0.00 |
(hh)The total amount of reimbursements of Class A Investor Charge-Offs |
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for such Distribution Date is equal to.................................................................................................. |
$0.00 |
(ii)The amount of Class B Investor Charge-Offs and other reductions in |
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the Class B Invested Amount for such Distribution Date is equal to...................................... |
$0.00 |
(jj)The total amount of reimbursements of Class B Investor Charge-Offs |
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for such Distribution Date is equal to.................................................................................................... |
$0.00 |
of the preceding Due Period |
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F.Class B Certificates |
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1. Class B Invested Amount as of the end of the Distribution Date |
$46,100,000.00 |
2. Available Collateral Invested Amount as of the end of the Distribution Date |
$80,036,239.78 |
6. Allocable Servicing Fee paid for the Distribution Date |
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Household Finance Corporation |
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Household Card Funding Corp. |
October 31, 2000 |
Household Credit Card Master Trust I , Series 1998-1 |
November 15, 2000 |
CLASS B CERTIFICATEHOLDER'S STATEMENT |
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A.Information Regarding Distributions |
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1. Total distribution per $1,000 interest |
$5.783333406 |
2. Principal distribution per $1,000 interest |
$0.000000000 |
3. Interest distribution per $1,000 interest |
$5.783333406 |
B. Calculation of Class B Interest |
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1. Calculation of Class B Certificate Rate |
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(a) One-month LIBOR |
6.620000000% |
(b) Spread |
0.3200% |
(c) Class B Certificate Rate |
6.940000000% |
2. Beginning Invested Amount |
$46,100,000.00 |
3. Days in Interest Period |
30 |
C. Performance of Trust |
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1. Collections of Receivables |
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(a) Total Collections |
$2,083,777,324.81 |
(b) Collections of Finance Charge and Administrative Receivables |
$124,184,911.94 |
(c) Collections of Principal |
$1,959,592,412.87 |
2. Allocation of Receivables |
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(a) Class B Invested Percentage |
4.75% |
(b) Principal Allocation Percentage |
87.13% |
3. Delinquent Gross Balances |
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(a) Delinquent 1 - 29 days |
$192,671,522.21 |
% of Gross Receivables |
2.89% |
(b) Delinquent 30 - 59 days |
$75,118,988.79 |
% of Gross Receivables |
1.13% |
(c) Delinquent 60+ days |
$156,859,969.81 |
% of Gross Receivables |
2.36% |
4. Class B Investor Default Amount |
$207,647.81 |
5. Class B Investor Charge-offs; Reimbursement of Charge-offs |
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(a) Class B Investor Charge-offs, if any, for the Distribution Date |
$0.00 |
(b) The amount of Item 5.(a) per $1,000 interest |
$0.00 |
(c) Total reimbursed to Trust in respect of Class B Investor Charge-offs |
$0.00 |
(d) The amount of Item 5.(c) per $1,000 interest |
$0.00 |
(e) The amount, if any, by which the outstanding principal balance of the |
$0.00 |
Class B Certificates exceeds the Class B Invested Amount as of |
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the end of the Distribution Date |
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6. Available Cash Collateral Amount |
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(a) Available Cash Collateral Amount at the end of the Distribution Date |
$0.00 |
(b) Available Cash Collateral Amount as a percent of the Class B |
0.00% |
Invested Amount, each at the end of the Distribution Date |
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7. Available Collateral Invested Amount |
$80,036,239.78 |
8. Deficit Controlled Accumulation Amount for the Distribution Date |
$0.00 |
D.Class B Pool Factor |
$1.000000000 |
E. Receivables Balances |
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1. Principal Receivables as of the last day of the preceding Due Period |
$6,513,025,256.22 |
2. Finance Charge and Administrative Receivables as of the last day |
$147,673,094.01 |
of the preceding Due Period |
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