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<PAGE>
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 (Date of earliest event report): April 30, 1999
GREENPOINT CREDIT CORP.
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(exact name of registrant as specified in charter)
DELAWARE
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(state or other jurisdiction of incorporation)
333-59731
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(commission file number)
13-4002891
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(I.R.S. employer identification number)
10089 Willow Creek Road
San Diego, California 92131
(619) 530-9394
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(address and telephone number of registrant's principal executive offices)
<PAGE>
Item 5. Other Events
(a) Monthly Report
The following are filed herewith. The exhibit numbers correspond with Item
601 (b) of Regulation S-K.
Exhibit No. Description
* 4. Pooling and Servicing Agreement, dated as of
February 1, 1999, between Greenpoint Credit Corp.,
as Contract Seller and Servicer and The First
National Bank of Chicago as Trustee.
99. Monthly Investor Servicing Report.
* Filed previously with the commission on March 1 1999 as an exhibit to a
report on Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.
GREENPOINT CREDIT CORP.
BY: /s/ Charles O. Ryan
--------------------
Name: Charles O. Ryan
Title: Senior Vice President
Dated: May 22, 1999
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1999-1
Investor Number 51999021
<TABLE>
<CAPTION>
Determination Date: 12-May-99
Remittance Date: 17-May-99
Month End Date: 30-Apr-99
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<S> <C> <C> <C>
(a) Class A-1 Distribution Amount 4,033,996.81
(b) Class A-1 Distribution Amount 3,367,934.46
Scheduled Payments of Principal 689,604.68
Partial Prepayments 210,796.52
Scheduled Principal Balance Principal Prepayment in Full 2,013,659.07
Scheduled Principal Balance Liquidated Contracts 453,874.19
Scheduled Principal Balance Repurchases 0.00
(c) Class A-1 Interest Distribution 666,062.35
Class A-1 Interest Shortfall 0.00
(d) Class A-1 Remaining Certificate Balance 134,914,907.04
(e) Class A-2 Distribution Amount 628,545.83
(f) Class A-2 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(g) Class A-2 Interest Distribution 628,545.83
Class A-2 Interest Shortfall 0.00
(h) Class A-2 Remaining Certificate Balance 125,500,000.00
(i) Class A-3 Distribution Amount 463,341.67
(j) Class A-3 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(k) Class A-3 Interest Distribution 463,341.67
Class A-3 Interest Shortfall 0.00
(l) Class A-3 Remaining Certificate Balance 91,000,000.00
(m) Class A-4 Distribution Amount 400,625.00
(n) Class A-4 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(o) Class A-4 Interest Distribution 400,625.00
Class A-4 Interest Shortfall 0.00
(p) Class A-4 Remaining Certificate Balance 75,000,000.00
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
(q) Class A-5 Distribution Amount 1,109,485.74
(r) Class A-5 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(s) Class A-5 Interest Distribution 1,109,485.74
Class A-5 Interest Shortfall 0.00
(t) Class A-5 Remaining Certificate Balance 196,659,215.00
(u) Class A-1 Pass Through Rate 5.780000%
Class A-2 Pass Through Rate 6.010000%
Class A-3 Pass Through Rate 6.110000%
Class A-4 Pass Through Rate 6.410000%
Class A-5 Pass Through Rate 6.770000%
(v) Monthly Servicing Fee 522,035.05
(w) Delinquency # of Contracts Prin. Balance
-------------- ----------------
a) One Monthly Payment Delinquent 179 6,478,173.58
b) Two Monthly Payments 19 713,994.70
c) Three or more Monthly Payments 10 390,678.31
-------------- ----------------
208 7,582,846.59
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Difference
(x) Repurchased Contracts Contract Number Repurchase Price Paid by Seller
--------------- -------------- ---------------
0 0.00 0.00
-------------- ---------------
Total Repurchases 0.00 0.00
============== ===============
(y) Repossessions or Foreclosures Number Actual Balance
---------- ---------------
BOP Repossessions 44 $ 1,478,182.10
Plus Repossessions this 47 1,529,794.31
Month
Less Liquidations -14 ($457,677.08)
---------- ---------------
EOP Repossessions 77 $ 2,550,299.33
========== ===============
(z) Class A-1 Enhancement Payment 0.00
Class A-2 Enhancement Payment 0.00
Class A-3 Enhancement Payment 0.00
Class A-4 Enhancement Payment 0.00
Class A-5 Enhancement Payment 0.00
(aa) Monthly Advance 0.00
Outstanding Amount Advanced 0.00
(bb) Deposit to Special Account 665,198.06
(cc) Amount Distributed to Class R Certificateholders 665,198.06
(dd) Net Weighted Average Contract Rate 9.39%
(ee) Number of Manufactured Homes currently held due to repossession 77
Principal balance of Manufactured Homes currently held 2,550,299.33
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
(ff) Class A-1 Pool Principal Balance percentage 94.017357%
Class A-2 Pool Principal Balance percentage 100.000000%
Class A-3 Pool Principal Balance percentage 100.000000%
Class A-4 Pool Principal Balance percentage 100.000000%
Class A-5 Pool Principal Balance percentage 100.000000%
(gg) Aggregate Deficiency Amounts 0.00
Servicer Deficiency Amounts received 0.00
</TABLE>
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