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 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
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99(a) Monthly Servicing Report to Trustee dated May
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: May 20, 1996
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
99(a) Monthly Servicing Report to Trustee dated May 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<PAGE>
==============================================================
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: 05/20/96
Investor Certificateholder Floating Allocation Percentage 97.62%
Investor Certificateholder Fixed Allocation Percentage 97.90%
Aggregate Amount of Collections 21,084,312.10
Aggregate Amount of Interest Collections 4,920,932.05
Aggregate Amount of Principal Collections 16,163,380.05
Class A Interest Collections 4,803,577.66
Class A Principal Collections 14,647,173.99
Seller Interest Collections 117,354.39
Seller Principal Collections 1,516,206.06
Weighted Average Loan Rate 14.10%
Net Loan Rate 13.10%
Class A-1 Certificate Rate 5.67%
Maximum Investor Certificate Rate 13.10%
Class A-1 Certificate Interest Distributed 1,660,677.58
Class A-1 Investor Certificate Interest Shortfall before Polic 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 5.66%
Maximum Investor Certificate Rate 13.10%
Class A-2 Certificate Interest Distributed 72,956.38
Class A-2 Investor Certificate Interest Shortfall before Polic 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) 15,824,676.42
Alternative Principal Dist. Amount (APDA) 14,647,173.99
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 14,647,173.99
Principal allocable to Class A-1 14,030,220.37
Principal allocable to Class A-2 616,953.62
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 261,463.80
Reduction in Certificate Principal Balance
due to Current Class A-2 Liquidation Loss Amount 11,497.40
Cumulative Investor Liquidation Loss Amount 272,961.20
Total Principal allocable to A-1 14,291,684.17
Total Principal allocable to A-2 628,451.02
Beginning Class A-1 Certificate Principal Balance 376,882,621.23
Beginning Class A-2 Certificate Principal Balance 16,572,624.60
Ending Class A-1 Certificate Principal Balance 362,590,937.06
Ending Class A-2 Certificate Principal Balance 15,944,173.58
Class A-1 Factor 0.7972098
Class A-2 Factor 0.7972087
Pool Factor (PF) 0.8062079
Servicer Certificate (Page 2 of 3)
Distribution Date: 05/20/96
Retransfer Deposit Amount 0.00
Servicing Fees Distributed 329,898.19
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 272,961.20
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 405,549,377.47
Ending Pool Balance 390,621,706.49
Beginning Invested Amount 395,877,832.83
Ending Invested Amount 380,957,697.64
Beginning Seller Principal Balance 9,671,544.64
Ending Seller Principal Balance 9,664,008.85
Additional Balances 1,516,206.06
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any purchase of Subse 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 2.2016%
Ending Seller's Interest 2.4740%
Delinquency & REO Status
Delinquent 60-89 days
No. of Accounts 95
Trust Balance 2,609,848.26
Delinquent 90+ days
No. of Accounts 241
Trust Balance 8,475,975.03
REO
No. of Accounts 11
Trust Balance 466,931.61
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days of Required No
Failure to perform covenant relating to Trust's Security InNo
Failure to perform other covenants as described in the AgreNo
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: 05/20/96
Event of Default ? No
Failure by Servicer to make payment within 5 Bus. Days of RNo
Failure by Servicer to perform covenant relating to Trust'sNo
Failure by Servicer to perform other covenants as describedNo
Bankruptcy, Insolvency or Receivership relating to Master SNo
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid directly from N/A
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 1,633,560.45
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 21,084,312.10
Deposit for principal not used to purchase subsequent loans
Servicing Fee 329,898.19
Prinicpal and Interest to Class A-1 15,952,361.75
Prinicpal and Interest to Class A-2 701,407.40
Seller's portion of Principal and Interest 1,633,560.45
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 2,467,084.31
Total 21,084,312.10
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: 05/20/96
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentage 97.6152%
Class A Certificateholder Fixed Allocation Percentage 97.9045%
Beginning Class A-1 Certificate Balance 376,882,621.23
Beginning Class A-2 Certificate Balance 16,572,624.60
Class A-1 Certificate Rate 5.66531%
Class A-2 Certificate Rate 5.66000%
Class A-1 Certificate Interest Distributed 3.651245
Class A-2 Certificate Interest Distributed 3.647819
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 31.422380
Class A-2 Certificate Principal Distributed 31.422551
Maximum Principal Distribution Amount 33.327387
Scheduled Principal Distribution Amount (SPDA) 30.847521
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Distributed 0.574867
Total Amount Distributed to Certificateholders 34.498621
Principal Collections deposited into Funding Account 0.00
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 362,590,937.06
Ending Class A-2 Certificate Balance 15,944,173.58
Class A-1 Factor 0.7972098
Class A-2 Factor 0.7972087
Pool Factor (PF) 0.8062079
Unreimbursed Liquidation Loss Amount 0.00
Accrued Interest on Unreimbursed Liquidation Loss Amount 0.00
Accrued & Unpaid Interest on Unreimbursed Liquidation Loss Amo 0.00
Class A Servicing Fee 329,898.19
Beginning Invested Amount 395,877,832.83
Ending Invested Amount 380,957,697.64
Beginning Pool Balance 405,549,377.47
Ending Pool Balance 390,621,706.49
Credit Enhancement Draw Amount 0.00
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 05/20/96
DELINQUENCY & REO STATUS
Delinquent 60-89 days
No. of Accounts 95
Trust Balance 2,609,848.26
Delinquent 90+ days
No. of Accounts 241
Trust Balance 8,475,975.03
REO
No. of Accounts 11
Trust Balance 466,931.61
Aggregate Liquidation Loss Amount for Liquidated Loans 245,789.22
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
