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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): August 31, 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)
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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
* 1. Underwriting Agreement, dated November 17, 1998, between
Greenpoint Credit Corp., as Contract Seller and Credit
Suisse First Boston, as the representative of the several
Underwriters
* 4. Pooling and Servicing Agreement, dated as of November 1,
1998, 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 November 30, 1998 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
BY: /s/ Charles O. Ryan
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Name: Charles O. Ryan
Title: Vice President
Dated: September, 17, 1999
San Diego, California
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EXHIBIT 99
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 10-Sep-99
Remittance Date: 15-Sep-99
Month End Date: 31-Aug-99
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(a) Class I A Distribution Amount 5,848,538.05
(b) Class I A Distribution Principal 3,367,217.95
Scheduled Payments of Principal 598,364.40
Partial Prepayments 154,241.40
Scheduled Principal Balance Principal
Prepayment in Full 1,589,600.63
Scheduled Principal Balance Liquidated
Contracts 1,025,011.52
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,481,320.10
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 445,402,053.55
Class II A Remaining Certificate Balance 227,444,139.59
(e) Class II A Distribution Amount 3,942,358.62
(f) Class II A Distribution Principal 2,820,537.89
Scheduled Payments of Principal 209,448.12
Partial Prepayments 177,975.92
Scheduled Principal Balance Principal repayment
Prepayment in Full 1,804,533.54
Scheduled Principal Balance Liquidated Contracts
Contracts 628,580.31
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,121,820.73
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 5.846250%
(i) Monthly Servicing Fee Class I A 373,974.39
Monthly Servicing Fee Class II A 191,887.23
(j) Delinquency # of Contracts Prin. Balance
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a) One Monthly Payment Delinquent 277 10,037,138.48
b) Two Monthly Payments 93 3,382,856.72
c) Three or more Monthly Payments 78 3,507,810.88
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448 16,927,806.08
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(k) Repurchased Contracts Contract Number Repurchase Price Difference Paid
by Seller
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0.00 0.00
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Total Repurchases 0.00 0.00
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(l) Repossessions or Foreclosures Number Actual Balance
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BOP Repossessions 177 $ 6,345,727.11
Plus Repossessions 84 2,895,261.10
this Month
Less Liquidations (59) (1,697,046.12)
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EOP Repossessions 202 $ 7,543,942.09
============ ===============
(m) Group I Enhancement Payment 0.00
Group II Enhancement Payment 0.00
(n) Monthly Advance Group I 57,745.86
Outstanding Amount Advanced Group I 57,745.86
Monthly Advance Group II 103,125.02
Outstanding Amount Advanced Group II 103,125.02
(o) Group I Deposit to Special Account/
(Group I Withdrawal from Special Account) 0.00
Group II Deposit to Special Account/
(Group II Withdrawal from Special Account) 0.00
(p) Amount Distributed to Class R Certificateholders 0.00
(q) Net Weighted Average Contract Rate Group I 9.46%
Net Weighted Average Contract Rate Group II 8.80%
( r) Group I Pool Principal Balance percentage 93.185402%
Group II Pool Principal Balance percentage 91.069156%
(s) Aggregate Deficiency Amounts 0.00
Servicer Deficiency Amounts received 0.00
(t) Net Funds Carryover Amount paid to Class II A
Certificateholders 0.00
Net Funds Carryover Amount remaining 0.00
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