Text area instance name "parchment"

Frame 1 actionscript reads as follows:

parchment.backgroundColor = 0x000000;
parchment.borderStyle = "none";
parchment.color = 0xFFFFFF;
parchment.html = true;
loadHTML = new LoadVars();
loadHTML.onLoad = function (success) {
if (success) {
parchment.htmlText = loadHTML.varOne;
}
}
loadHTML.load("./home.html");

home.html reads -

varOne=lots of html filler text with various html

Problem -

Not loading the text, I am just getting my textbox with nothing in it.

This is my first time with a component so if I am blantenly screwing up I
wouldn't know it. Any insight would be very much appreciated.

I can make this work just using Dynamic Text, but not with the component.

Try parchment.text in place of parchment.htmlText.