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 February 20, 1997
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 0-20693 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
February 20, 1997 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: February 21, 1997
- 2 -<PAGE>
EXHIBIT INDEX
Exhibit
Number Exhibit Page
99(a) Monthly Servicing Report to Trustee dated February
20, 1997 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: 02/20/97
Investor Certificateholder Floating Allocation Percenta 96.83%
Investor Certificateholder Fixed Allocation Percentage 97.90%
Aggregate Amount of Collections 13,196,443.87
Aggregate Amount of Interest Collections 3,469,906.04
Aggregate Amount of Principal Collections 9,726,537.83
Class A Interest Collections 3,359,771.22
Class A Principal Collections 9,053,084.70
Seller Interest Collections 110,134.82
Seller Principal Collections 673,453.13
Weighted Average Loan Rate 13.88%
Net Loan Rate 12.88%
Weighted Average Maximum Loan Rate 19.35%
Class A-1 Certificate Rate 5.67%
Maximum Investor Certificate Rate 12.88%
Class A-1 Certificate Interest Distributed 1,313,581.79
Class A-1 Investor Certificate Interest Shortfall befor 0.00
Unpaid Class A-1 Certificate Interest Shortfall Receive 0.00
Unpaid Class A-1 Certificate Interest Shortfall Remaini 0.00
Unpaid Class A-1 Carryover Interest Amount 0.00
Class A-2 Certificate Rate 5.70%
Maximum Investor Certificate Rate 12.88%
Class A-2 Certificate Interest Distributed 58,115.57
Class A-2 Investor Certificate Interest Shortfall befor 0.00
Unpaid Class A-2 Certificate Interest Shortfall Receive 0.00
Unpaid Class A-2 Certificate Interest Shortfall Remaini 0.00
Unpaid Class A-2 Carryover Interest Amount 0.00
Maximum Principal Dist. Amount (MPDA) 9,522,718.23
Alternative Principal Dist. Amount (APDA) 9,053,084.70
Rapid Amortization Period? (Y=1, N=0) 0.00
Scheduled Principal Distribution Amount (SPDA) 9,053,084.70
Principal allocable to Class A-1 8,671,759.72
Principal allocable to Class A-2 381,324.98
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 600,759.97
Reduction in Certificate Principal Balance
due to Current Class A-2 Liquidation Loss Amount 26,417.34
Cumulative Investor Liquidation Loss Amount 627,177.31
Total Principal allocable to A-1 9,272,519.69
Total Principal allocable to A-2 407,742.32
Beginning Class A-1 Certificate Principal Balance 278,236,874.26
Beginning Class A-2 Certificate Principal Balance 12,234,855.94
Ending Class A-1 Certificate Principal Balance 268,964,354.57
Ending Class A-2 Certificate Principal Balance 11,827,113.62
Class A-1 Factor 0.5913579
Class A-2 Factor 0.5913557
Pool Factor (PF) 0.6043012
<PAGE>
Servicer Certificate (Page 2 of 3)
Distribution Date: 02/20/97
Retransfer Deposit Amount 0.00
Servicing Fees Distributed 244,078.60
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 627,177.31
Investor Loss Reduction Amount 0.00
Beginning Pool Balance 302,495,523.48
Ending Pool Balance 292,794,403.05
Beginning Invested Amount 292,894,317.20
Ending Invested Amount 283,214,055.19
Beginning Seller Principal Balance 9,601,206.28
Ending Seller Principal Balance 9,580,347.86
Additional Balances 673,453.13
Beginning Funding Account Balance 0.00
Ending Funding Account Balance 0.00
Ending Funding Account Balance % (before any purchase o 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 2.8849%
Ending Seller's Interest 3.2720%
Delinquency & REO Status
30 - 59 days (Del Stat 1)
No. of Accounts 688
Trust Balance 22,311,354.76
60 - 89 days (Del Stat 2)
No. of Accounts 172
Trust Balance 5,270,907.60
90+ days (Del Stat 3+)
No. of Accounts 369
Trust Balance 12,093,322.12
270+ days (Del Stat 9+)
No. of Accounts 117
Trust Balance 3,777,819.73
REO
No. of Accounts 32
Trust Balance 1,080,978.82
Rapid Amortization Event ? No
Failure to make payment within 5 Business Days of ReNo
Failure to perform covenant relating to Trust's SecuNo
Failure to perform other covenants as described in tNo
Breach of Representation or Warranty ? No
Bankruptcy, Insolvency or Receivership relating to SNo
Subject to Investment Company Act of 1940 RegulationNo
Servicing Termination ? No
<PAGE>
Servicer Certificate (Page 3 of 3)
Distribution Date: 02/20/97
Event of Default ? No
Failure by Servicer to make payment within 5 Bus. DaNo
Failure by Servicer to perform covenant relating to No
Failure by Servicer to perform other covenants as deNo
Bankruptcy, Insolvency or Receivership relating to MNo
Trigger Event ? No
Policy Fee Distributed to Credit Enhancer (Paid directlN/A
Premium Distributed to Credit Enhancer 0.00
Amount Distributed to Seller 783,587.95
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 13,196,443.87
Deposit for principal not used to purchase subsequent loans
Servicing Fee 244,078.60
Prinicpal and Interest to Class A-1 10,586,101.48
Prinicpal and Interest to Class A-2 465,857.89
Seller's portion of Principal and Interest 783,587.95
Funds deposited into Funding Account (Net) 0.00
Funds deposited into Spread Account 0.00
Excess funds released to Seller 1,116,817.95
Total 13,196,443.87
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.
A Servicing Officer
<PAGE>
Statement to Certificateholders (Page 1 of 2)
Distribution Date: 02/20/97
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000)
Class A Certificateholder Floating Allocation Percentag 96.8260%
Class A Certificateholder Fixed Allocation Percentage 97.9045%
Beginning Class A-1 Certificate Balance 278,236,874.26
Beginning Class A-2 Certificate Balance 12,234,855.94
Class A-1 Certificate Rate 5.66531%
Class A-2 Certificate Rate 5.70000%
Class A-1 Certificate Interest Distributed 2.888104
Class A-2 Certificate Interest Distributed 2.905779
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 Shortfa 0.000000
Remaining Unpaid Class A-2 Certificate Interest Shortfa 0.000000
Rapid Amortization Event ? No
Class A-1 Certificate Principal Distributed 20.387005
Class A-2 Certificate Principal Distributed 20.387116
Maximum Principal Distribution Amount 20.055217
Scheduled Principal Distribution Amount (SPDA) 19.066150
Accelerated Principal Distribution Amount 0.000000
Aggregate Investor Liquidation Loss Amount Distribut 1.320860
Total Amount Distributed to Certificateholders 21.954998
Principal Collections deposited into Funding Account 0.00
Ending Funding Account Balance 0.00
Ending Class A-1 Certificate Balance 268,964,354.57
Ending Class A-2 Certificate Balance 11,827,113.62
Class A-1 Factor 0.5913579
Class A-2 Factor 0.5913557
Pool Factor (PF) 0.6043012
Unreimbursed Liquidation Loss Amount 0.00
Accrued Interest on Unreimbursed Liquidation Loss Amoun 0.00
Accrued & Unpaid Interest on Unreimbursed Liquidation L 0.00
Class A Servicing Fee 244,078.60
Beginning Invested Amount 292,894,317.20
Ending Invested Amount 283,214,055.19
Beginning Pool Balance 302,495,523.48
Ending Pool Balance 292,794,403.05
Credit Enhancement Draw Amount 0.00
<PAGE>
Statement to Certificateholders (Page 2 of 2)
Distribution Date: 02/20/97
DELINQUENCY & REO STATUS
30 - 59 days (Del Stat 1)
No. of Accounts 688
Trust Balance 22,311,354.76
60 - 89 days (Del Stat 2)
No. of Accounts 172
Trust Balance 5,270,907.60
90+ days (Del Stat 3+)
No. of Accounts 369
Trust Balance 12,093,322.12
REO
No. of Accounts 32
Trust Balance 1,080,978.82
Aggregate Liquidation Loss Amount for Liquidated Loans 498,760.47
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