From what I am to understand, Hela is the oldest of Odin's children, the first born and true heir of Asgard. But she grew to violent. To uncontrollable and so she was locked away.
I was born to Odin and Frigga sometime later. Loki was thought to be too, but we found out some years later that he was actually a Jotun that father kidnapped as a child from the king to ensure peace between them.
Yes, I live here. It is the only place we are allowed to live, I believe.