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 October 21, 1996
REVOLVING HOME EQUITY LOAN TRUST 1995-1
(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 33-91200 Not Applicable
(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 <PAGE>
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated
October 21, 1996 pursuant to Section 3.04(b)
of the Pooling and Servicing Agreement dated
as of May 1, 1995 (the "Pooling and Servicing
Agreement") among HFC Revolving Corporation,
Inc. as Seller, Household Finance
Corporation, as Servicer, and First National
Bank of Chicago, as Trustee, with respect to
the Class A-1 Certificates and the Class A-2
Certificates, Series 1995-1.
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 Revolving Home Equity Loan Trust 1995-1 by the
undersigned hereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
REVOLVING HOME EQUITY LOAN TRUST 1995-1
(Registrant)
By: /s/ J. W. Blenke
J. W. Blenke
Authorized Representative
Dated: October 25, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
99(a) Monthly Servicing Report to Trustee dated October
21, 1996 pursuant to Section 3.04(b) of the
Pooling and Servicing Agreement dated as of May 1,
1995 (the "Pooling and Servicing Agreement") among
HFC Revolving Corporation, Inc. as Seller,
Household Finance Corporation, as Servicer, and
First National Bank of Chicago, as Trustee, with
respect to the Class A-1 Certificates and the
Class A-2 Certificates, Series 1995-1.
- 3 -
HE95-1.8k
=================================================================
Household Finance Corporation
Household Revolving Home Equity Loan
Revolving Home Equity Loan Asset Backed Certificates - Series
1995-1
P & S Agreement Date: May 1, 1995
Original Settlement Date: May 25, 1995
Series Number of Class A-1 Certificates: 441919AE7
Series Number of Class A-2 Certificates: 441919AF4
Original Sale Balance: $474,825,000
=================================================================
Servicer Certificate (Page 1 of 3)
Distribution Date: 10/21/96
Investor Certificateholder Floating Allocation Percentage
97.20%
Investor Certificateholder Fixed Allocation Percentage
97.90%
Aggregate Amount of Collections $15,639,322.28
Aggregate Amount of Interest Collections $3,984,579.01
Aggregate Amount of Principal Collections 11,654,743.27
Class A Interest Collections 3,872,931.11
Class A Principal Collections 10,637,632.28
Seller Interest Collections 111,647.90
Seller Principal Collections 1,017,110.99
Weighted Average Loan Rate 13.99%
Net Loan Rate 12.99%
Class A-1 Certificate Rate 5.70%
Maximum Investor Certificate Rate 12.99%
Class A-1 Certificate Interest Distributed 1,559,003.21
Class A-1 Investor Certificate Interest Shortfall before Policy
Draw 0.00
Unpaid Class A-1 Certificate Interest Shortfall Received 0.00
Unpaid Class A-1 Certificate Interest Shortfall Remaining 0.00
Unpaid Class A-1 Carryover Interest Amount 0.00
Class A-2 Certificate Rate 5.74%
Maximum Investor Certificate Rate 12.99%
Class A-2 Certificate Interest Distributed 69,029.21
Class A-2 Investor Certificate Interest Shortfall before Policy
Draw 0.00
Unpaid Class A-2 Certificate Interest Shortfall Received 0.00
Unpaid Class A-2 Certificate Interest Shortfall Remaining 0.00
Unpaid Class A-2 Carryover Interest Amount 0.00
Maximum Principal Dist. Amount (MPDA) 11,410,518.12
Alternative Principal Dist. Amount (APDA) 10,637,632.28
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 10,637,632.28
Principal allocable to Class A-1 10,189,564.57
Principal allocable to Class A-2 448,067.71
SPDA deposited to Funding Account 0.00
Accelerated Principal Distribution Amount 0.00
APDA allocable to Class A-1 0.00
APDA allocable to Class A-2 0.00
Reimbursement to Credit Enhancer 0.00
Reduction in Certificate Principal Balance due to Current Class
A-1 Liquidation Loss Amount 158,130.03
Reduction in Certificate Principal Balance due to Current Class
A-2 Liquidation Loss Amount 6,953.48
Cumulative Investor Liquidation Loss Amount 165,083.51
Total Principal allocable to A-1 10,347,694.60
Total Principal allocable to A-2 455,021.19
Beginning Class A-1 Certificate Principal Balance 317,597,556.03
Beginning Class A-2 Certificate Principal Balance 13,965,670.86
Ending Class A-1 Certificate Principal Balance 307,249,861.43
Ending Class A-2 Certificate Principal Balance 13,510,649.67
Class A-1 Factor 0.6755342
Class A-2 Factor 0.6755325
Pool Factor (PF) 0.6868770
Servicer Certificate (Page 2 of 3)
Distribution Date: 10/21/96
Retransfer Deposit Amount 0.00
Servicing Fees Distributed 278,321.51
Beg. Accrued and Unpaid Inv. Servicing Fees 0.00
Accrued and Unpaid Inv. Servicing Fees Recv'd 0.00
End. Accrued and Unpaid Inv. Servicing Fees 0.00
Aggregate Investor Liquidation Loss Amount 165,083.51
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 343,613,843.65
Ending Pool Balance 332,803,790.82
Beginning Invested Amount 333,985,813.89
Ending Invested Amount 323,183,098.10
Beginning Seller Principal Balance 9,628,029.76
Ending Seller Principal Balance 9,620,692.72
Additional Balances 1,017,110.99
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any purchase of
Subsequent Loans) 0.00%
Principal Balance of Subsequent Loans 0.00
Beginning Reserve Account Balance 1,211,294.00
Ending Reserve Account Balance 1,211,294.00
Beginning Seller Interest 2.5519%
Ending Seller's Interest 2.8908%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts 659
Trust Balance 21,957,983.36
60 - 89 days (Del Stat 2)
No. of Accounts 177
Trust Balance 5,713,079.11
90+ days (Del Stat 3+)
No. of Accounts 321
Trust Balance 10,122,736.79
REO
No. of Accounts 14
Trust Balance 530,552.09
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days of Required
Date ? No
Failure to perform covenant relating to Trust's Security
Interest ? No
Failure to perform other covenants as described in the
Agreement ? No
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relating to Seller ?
No
Subject to Investment Company Act of 1940 Regulation ? No
Servicing Termination ? No
Servicer Certificate (Page 3 of 3)
Distribution Date: 10/21/96
Event of Default ? No
Failure by Servicer to make payment within 5 Bus. Days of
Required Date ? No
Failure by Servicer to perform covenant relating to Trust's
Security Interest ? No
Failure by Servicer to perform other covenants as described in
the Agreement? No
Bankruptcy, Insolvency or Receivership relating to Master
Servicer ? No
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid directly from
HFC) N/A
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 1,128,758.89
Master Servicer Credit Facility Amount 0.00
Guaranteed Principal Distribution Amount 0.00
Credit Enhancement Draw Amount 0.00
Application of Available Funds
Aggregate Amount of Collections 15,639,322.28
Deposit for principal not used to purchase subsequent loans
Servicing Fee 278,321.51
Prinicpal and Interest to Class A-1 11,906,697.81
Prinicpal and Interest to Class A-2 524,050.40
Seller's portion of Principal and Interest 1,128,758.89
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 1,801,493.67
Total 15,639,322.28
OFFICERS'S CERTIFICATE
All computations reflected in this Servicer Certificate were
made in conformity with the Pooling and Servicing Agreement.
The attached Servicing Certificate is true and correct in all
material respects.
Attached as Exhibit A hereto is a list of all Mortgage Loans with
respect to which the Trust Balances have been paid in full and
all amounts received in connections with the payment of such
Trust Balances which are required to be deposited in the
Certificate Account or credited to the Mortgage Loan Payment
Record pursuant to Section 3.02 of the Agreement have been
so deposited.
A Servicing Officer
=================================================================
Household Finance Corporation
Household Revolving Home Equity Loan
Revolving Home Equity Loan Asset Backed Certificates - Series
1995-1
P & S Agreement Date: May 1, 1995
Original Settlement Date: May 25, 1995
Series Number of Class A-1 Certificates: 441919AE7
Series Number of Class A-2 Certificates: 441919AF4
Original Sale Balance: $474,825,000
=================================================================
Statement to Certificateholders (Page 1 of 2)
Distribution Date: 10/21/96
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage 97.1980%
Class A Certificateholder Fixed Allocation Percentage 97.9045%
Beginning Class A-1 Certificate Balance 317,597,556.03
Beginning Class A-2 Certificate Balance 13,965,670.86
Class A-1 Certificate Rate 5.70047%
Class A-2 Certificate Rate 5.74000%
Class A-1 Certificate Interest Distributed 3.427699
Class A-2 Certificate Interest Distributed 3.451461
Class A-1 Certificate Interest Shortfall Distributed 0.000000
Class A-2 Certificate Interest Shortfall Distributed 0.000000
Remaining Unpaid Class A-1 Certificate Interest Shortfall
0.000000
Remaining Unpaid Class A-2 Certificate Interest Shortfall
0.000000
Rapid Amortization Event ? No
Class A-1 Certificate Principal Distributed 22.750936
Class A-2 Certificate Principal Distributed 22.751059
Maximum Principal Distribution Amount 24.030997
Scheduled Principal Distribution Amount (SPDA) 22.403269
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Distributed
0.347672
Total Amount Distributed to Certificateholders 25.831969
Principal Collections deposited into Funding Account 0.00
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 307,249,861.43
Ending Class A-2 Certificate Balance 13,510,649.67
Class A-1 Factor 0.6755342
Class A-2 Factor 0.6755325
Pool Factor (PF) 0.6868770
Unreimbursed Liquidation Loss Amount 0.00
Accrued Interest on Unreimbursed Liquidation Loss Amount 0.00
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amount
0.00
Class A Servicing Fee 278,321.51
Beginning Invested Amount 333,985,813.89
Ending Invested Amount 323,183,098.10
Beginning Pool Balance 343,613,843.65
Ending Pool Balance 332,803,790.82
Credit Enhancement Draw Amount 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 10/21/96
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts 659
Trust Balance 21,957,983.36
60 - 89 days (Del Stat 2)
No. of Accounts 177
Trust Balance 5,713,079.11
90+ days (Del Stat 3+)
No. of Accounts 321
Trust Balance 10,122,736.79
REO
No. of Accounts 14
Trust Balance 530,552.09
Aggregate Liquidation Loss Amount for Liquidated Loans 158,493.76
Class A-1 Certificate Rate for Next Distribution Date
To be updated
Class A-2 Certificate Rate for Next Distribution Date
To be updated
Amount of any Draws on the Policy 0.00
Subsequent Mortgage Loans
No. of Accounts 0.00
Trust Balance 0.00
