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 December 20, 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
December 20, 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: December 20, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
99(a) Monthly Servicing Report to Trustee dated December
20, 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
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=====================
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:
12/20/96
Investor Certificateholder Floating Allocation Percentage
97.02%
Investor Certificateholder Fixed Allocation Percentage
97.90%
Aggregate Amount of Collections
15,232,093.52
Aggregate Amount of Interest Collections
3,897,118.36
Aggregate Amount of Principal Collections
11,334,975.16
Class A Interest Collections
3,780,956.95
Class A Principal Collections
10,459,593.10
Seller Interest Collections
116,161.41
Seller Principal Collections
875,382.06
Weighted Average Loan Rate
13.96%
Net Loan Rate
12.96%
Class A-1 Certificate Rate
5.60%
Maximum Investor Certificate Rate
12.96%
Class A-1 Certificate Interest Distributed
1,386,969.05
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
5.68%
Maximum Investor Certificate Rate
12.96%
Class A-2 Certificate Interest Distributed
61,915.51
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)
11,097,450.76
Alternative Principal Dist. Amount (APDA)
10,459,593.10
Rapid Amortization Period? (Y=1, N=0)
0.00
Scheduled Principal Distribution Amount (SPDA)
10,459,593.10
Principal allocable to Class A-1
10,019,024.58
Principal allocable to Class A-2
440,568.52
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
180,206.92
Reduction in Certificate Principal Balance
due to Current Class A-2 Liquidation Loss Amount
7,924.27
Cumulative Investor Liquidation Loss Amount
188,131.19
Total Principal allocable to A-1
10,199,231.50
Total Principal allocable to A-2
448,492.79
Beginning Class A-1 Certificate Principal Balance
297,473,254.41
Beginning Class A-2 Certificate Principal Balance
13,080,741.03
Ending Class A-1 Certificate Principal Balance
287,274,022.91
Ending Class A-2 Certificate Principal Balance
12,632,248.24
Class A-1 Factor
0.6316144
Class A-2 Factor
0.6316124
Pool Factor (PF)
0.6438045
Servicer Certificate (Page 2 of 3)
Distribution Date:
12/20/96
Retransfer Deposit Amount
0.00
Servicing Fees Distributed
260,813.82
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
188,131.19
Investor Loss Reduction Amount
0.00
Beginning Pool Balance
322,592,171.71
Ending Pool Balance
311,934,446.74
Beginning Invested Amount
312,976,582.44
Ending Invested Amount
302,328,858.15
Beginning Seller Principal Balance
9,615,589.27
Ending Seller Principal Balance
9,605,588.59
Additional Balances
875,382.06
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
2.7231%
Ending Seller's Interest
3.0794%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts
590
Trust Balance
19,691,059.19
60 - 89 days (Del Stat 2)
No. of Accounts
140
Trust Balance
4,261,021.93
90+ days (Del Stat 3+)
No. of Accounts
347
Trust Balance
10,789,716.43
270+ days (Del Stat 9+)
No. of Accounts
121
Trust Balance
4,330,300.79
REO
No. of Accounts
24
Trust Balance
911,582.98
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:
12/20/96
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
991,543.47
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
15,232,093.52
Deposit for principal not used to purchase subsequent loans
Servicing Fee
260,813.82
Prinicpal and Interest to Class A-1
11,586,200.55
Prinicpal and Interest to Class A-2
510,408.30
Seller's portion of Principal and Interest
991,543.47
Funds deposited into Funding Account (Net)
0.00
Funds deposited into Spread Account
0.00
Excess funds released to Seller
1,883,127.38
Total
15,232,093.52
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
Statement to Certificateholders (Page 1 of 2)
Distribution Date:
12/20/96
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage
97.0193%
Class A Certificateholder Fixed Allocation Percentage
97.9045%
Beginning Class A-1 Certificate Balance
297,473,254.41
Beginning Class A-2 Certificate Balance
13,080,741.03
Class A-1 Certificate Rate
5.59500%
Class A-2 Certificate Rate
5.68000%
Class A-1 Certificate Interest Distributed
3.049456
Class A-2 Certificate Interest Distributed
3.095776
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
22.424518
Class A-2 Certificate Principal Distributed
22.424640
Maximum Principal Distribution Amount
23.371665
Scheduled Principal Distribution Amount (SPDA)
22.028312
Accelerated Principal Distribution Amount
0.000000
Aggregate Investor Liquidation Loss Amount Distributed
0.396212
Total Amount Distributed to Certificateholders
25.079719
Principal Collections deposited into Funding Account
0.00
Ending Funding Account Balance
0.00
Ending Class A-1 Certificate Balance
287,274,022.91
Ending Class A-2 Certificate Balance
12,632,248.24
Class A-1 Factor
0.6316144
Class A-2 Factor
0.6316124
Pool Factor (PF)
0.6438045
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
260,813.82
Beginning Invested Amount
312,976,582.44
Ending Invested Amount
302,328,858.15
Beginning Pool Balance
322,592,171.71
Ending Pool Balance
311,934,446.74
Credit Enhancement Draw Amount
0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date:
12/20/96
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts
590
Trust Balance
19,691,059.19
60 - 89 days (Del Stat 2)
No. of Accounts
140
Trust Balance
4,261,021.93
90+ days (Del Stat 3+)
No. of Accounts
347
Trust Balance
10,789,716.43
REO
No. of Accounts
24
Trust Balance
911,582.98
Aggregate Liquidation Loss Amount for Liquidated Loans
210,926.10
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
