GREEN TREE FLOORPLAN RECIEVABLES MASTER TRUST
8-K, EX-99.1, 2000-10-23
ASSET-BACKED SECURITIES
Previous: GREEN TREE FLOORPLAN RECIEVABLES MASTER TRUST, 8-K, 2000-10-23
Next: UNISERVICE CORP/FL, SB-2/A, 2000-10-23



<PAGE>

                                                                    EXHIBIT 99.1

                            FORM OF MONTHLY STATEMENT

                  GreenTree Floorplan Receivables Master Trust
                                  Series 1999-1

         Pursuant to the Pooling and Servicing Agreement dated as of December 1,
1995 (hereinafter as such agreement may have been or may be from time to time
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
Conseco Finance Corporation as servicer (the "Servicer"), Green Tree Floorplan
Funding Corp. as transferor (the "Transferor"), and Norwest Bank Minnesota as
trustee (the "Trustee"), as supplemented by the Series 1999-1 Supplement dated
as of September 1, 1999 (the Supplement") among the Servicer, the Transferor and
the Trustee, as Servicer is required to prepare certain information each month
regarding current distributions to the Series 1999-1 Certificateholders and the
performance of the Green Tree Floorplan Receivables Master Trust (the "Trust")
during the previous month. The information which is required to be prepared with
respect to the performance of the Trust during the month of September 2000 is
set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 1999-1 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.

A)       Information regarding distribution in respect of the Class A
         Certificates per $1,000 original certificate principal amount

         (1) The total amount of the distribution in respect of Class A
         Certificates, per $1,000 original certificate principal amount    5.81
                                                                       --------

         (2) The amount of the distribution set forth in paragraph 1
         above in respect of interest on the Class A Certificates, per
         $1,000 original certificate principal amount                      5.81
                                                                       --------

         (3) The amount of the distribution set forth in paragraph 1
         above in respect of principal of the Class A Certificates, per
         $1,000 original certificate principal amount                      0.00
                                                                       --------

B)       Class A Investor Charge Offs and Reimbursement of Charge Offs

         (1) The amount of Class A Investor Charge Offs                    0.00
                                                                       --------

         (2) The amount of Class A Investor Charge Offs set forth in
         paragraph 1 above, per $1,000 original certificate principal
         amount                                                            0.00
                                                                       --------

         (3) The total amount reimbursed in respect of Class A Investor
         Charge Offs                                                       0.00
                                                                       --------

         (4) The amount set forth in paragraph 3 above, per $1,000
         original certificate principal amount                             0.00
                                                                       --------

         (5) The amount, if any, by which the outstanding principal
         balance of the Class A Certificates exceeds the Class A
         Invested Amount after giving effect to all transactions on
         such Distribution Date                                            0.00
                                                                       --------

C)       Information regarding distributions in respect of the Class B
         Certificates, per $1,000 original certificate principal amount

         (1) The total amount of the distribution in respect of Class B
         Certificates, per $1,000 original certificate principal amount    6.06
                                                                       --------

         (2) The amount of the distribution set forth in paragraph 1
         above in respect of interest on the Class B Certificates, per
         $1,000 original certificate principal amount                      6.06
                                                                       --------

         (3) The amount of the distribution set forth in paragraph 1
         above in respect of principal of the Class B Certificates, per
         $1,000 original certificate principal amount                      0.00
                                                                       --------
<PAGE>

D)       Amount of reductions in Class B Invested Amount pursuant to
         clauses (c), (d), and (e) of the definition of Class B
         Invested Amount

         (1) The amount of reductions in Class B Invested Amount
         pursuant to clauses (c), (d), and (e) of the definition of
         Class B Invested Amount                                           0.00
                                                                       --------

         (2) The amount of reductions in the Class B Invested Amount
         set forth in paragraph 1 above, per $1,000 original
         certificate principal amount                                      0.00
                                                                       --------

         (3) The total amount reimbursed in respect of such reductions
         in the Class B Invested Amount                                    0.00
                                                                       --------

         (4) The amount set forth in paragraph 3 above, per $1,000
         original certificate principal amount                             0.00
                                                                       --------

         (5) The amount, if any, by which the outstanding principal
         balance of the Class B Certificates exceeds the Class B
         Invested Amount after giving effect to all transactions on
         such Distribution Date                                            0.00
                                                                       --------


                          Green Tree Financial Corporation, as Servicer

                          By: /s/ Timothy R. Jacobson
                              ---------------------------------------------
                              Name:  Timothy R. Jacobson
                              Title: Vice President and Assistant Treasurer
<PAGE>

<TABLE>
<CAPTION>
<S>                                                         <C>                    <C>
RECEIVABLES  ---

Beginning of the Month Principal Receivables:                                          1,881,436,854.02
Removed Principal Receivables:                                                                     0.00
Additional Principal Receivables:                                                                  0.00
End of the Month Principal Receivables:                                                1,772,485,511.36
End of the Month Total Receivables:                                                    1,772,485,511.36

Excess Funding / Prefunding Account Balance                                              138,588,119.07
Aggregate Invested Amount (all Master Trust Series)                                    1,671,561,000.00

End of the Month Transferor Amount                                                        30,780,798.52

DELINQUENCIES AND LOSSES ---
                                                                                        RECEIVABLES
End of the Month Delinquencies:
   30-60 Days Delinquent                                                                   2,269,806.11
   61-90 Days Delinquent                                                                   1,654,206.53
   90+ Days Delinquent                                                                     1,448,322.21

   Total 30+ Days Delinquent                                                               5,372,334.85


Defaulted Accounts During the Month                                                          105,106.87


INVESTED AMOUNTS ---

Class A Initial Invested Amount                                 605,500,000.00
Class B Initial Invested Amount                                  31,500,000.00
Class C Initial Invested Amount                                  40,250,000.00
Class D Initial Invested Amount                                  22,750,000.00
INITIAL INVESTED AMOUNT                                                                  700,000,000.00

Class A Adjusted Invested Amount                                605,500,000.00
Class B Adjusted Invested Amount                                 31,500,000.00
Class C Adjusted Invested Amount                                 40,250,000.00
Class D Adjusted Invested Amount                                 92,269,963.04
ADJUSTED INVESTED AMOUNT                                                                 769,519,963.04

MONTHLY SERVICING FEE                                                                        648,642.37

INVESTOR DEFAULT AMOUNT                                                                       42,321.35


SERIES 1999-1 INFORMATION

SERIES 1999-1 ALLOCATION PERCENTAGE                                                              41.88%
SERIES 1999-1 ALLOCABLE FINANCE CHARGE                                                     7,169,299.39
SERIES 1999-1 UNREIMBURSED CHARGE-OFFS                                                             0.00
SERIES 1999-1 ALLOCABLE DEFAULTED AMOUNT                                                      44,015.63
SERIES 1999-1 MONTHLY FEES                                                                   648,642.37
SERIES 1999-1 ALLOCABLE PRINCIPAL COLLECTIONS                                            171,159,630.26
SERIES 1999-1 REQUIRED TRANSFEROR AMOUNT                                                  30,780,798.52
FLOATING ALLOCATION PERCENTAGE                                                                   40.06%

INVESTOR FINANCE CHARGE COLLECTIONS                                                        6,873,555.47
INVESTOR DEFAULT AMOUNT                                                                       42,321.35
PRINCIPAL ALLOCATION PERCENTAGE                                                                  40.06%
AVAILABLE PRINCIPAL COLLECTIONS                                                          163,161,921.66

CLASS A FLOATING ALLOCATION                                                                      31.17%
CLASS A REQUIRED AMOUNT                                                                            0.00

CLASS B FLOATING ALLOCATION                                                                       1.62%
CLASS B REQUIRED AMOUNT                                                                            0.00

CLASS C FLOATING ALLOCATION                                                                       2.07%
CLASS D FLOATING ALLOCATION                                                                       5.20%

TOTAL EXCESS SPREAD                                                                        3,128,525.36
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
<S>                                                         <C>                    <C>
YIELD AND BASE RATE---

Base Rate (Current Month)                                                7.36%
Base Rate (Prior Month)                                                  7.36%
Base Rate (Two Months Ago)                                               7.37%
THREE MONTH AVERAGE BASE RATE                                                                     7.36%

Series Adjusted Portfolio Yield (Current Month)                         10.59%
Series Adjusted Portfolio Yield (Prior Month)                           10.07%
Series Adjusted Portfolio Yield (Two Months Ago)                        10.16%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO                                                    10.27%
YIELD

PRINCIPAL COLLECTIONS---

CLASS A PRINCIPAL PERCENTAGE                                                                     31.17%
   Class A Principal Collections                                128,384,640.17

CLASS B PRINCIPAL PERCENTAGE                                                                      1.62%
   Class B Principal Collections                                  6,678,969.72

CLASS C PRINCIPAL PERCENTAGE                                                                      2.07%
   Class C Principal Collections                                  8,534,239.09

CLASS D PRINCIPAL PERCENTAGE                                                                      5.20%
   Class D Principal Collections                                 19,564,072.67

AVAILABLE PRINCIPAL COLLECTIONS                                 163,161,921.66

REALLOCATED PRINCIPAL COLLECTIONS                                                                 $0.00

SERIES 1999-1 PRINCIPAL SHORTFALL                                                                 $0.00

SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER                                                 $0.00
PRINCIPAL SHARING SERIES

ACCUMULATION ---

Controlled Accumulation Amount                                           $0.00
Deficit Controlled Accumulation Amount                                   $0.00
CONTROLLED DEPOSIT AMOUNT                                                                         $0.00

PRINCIPAL FUNDING ACCOUNT BALANCE                                                                 $0.00

SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER                                         $163,204,243.01
PRINCIPAL SHARING SERIES

INVESTOR CHARGE OFFS AND REIMBURSEMENTS--

CLASS A INVESTOR CHARGE OFFS                                                                      $0.00
REDUCTIONS IN CLASS B INVESTED AMOUNT  (OTHER THAN                                                $0.00
BY PRINCIPAL PAYMENTS)
REDUCTIONS IN CLASS C INVESTED AMOUNT (OTHER                                                      $0.00
THAN BY PRINCIPAL PAYMENTS)
REDUCTIONS IN CLASS D INVESTED AMOUNT (OTHER                                                      $0.00
THAN BY PRINCIPAL PAYMENTS)

PREVIOUS CLASS A CHARGE OFFS REIMBURSED                                                           $0.00
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS REIMBURSED                                            $0.00
PREVIOUS CLASS C INVESTED AMOUNT REDUCTIONS REIMBURSED                                            $0.00
PREVIOUS CLASS D INVESTED AMOUNT REDUCTIONS REIMBURSED                                            $0.00
</TABLE>

                          Green Tree Financial Corporation, as Servicer

                          By: /s/ Timothy R. Jacobson
                              ---------------------------------------------
                              Name:  Timothy R. Jacobson
                              Title: Vice President and Assistant Treasurer


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission