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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): May 31, 1999
GREENPOINT CREDIT CORP.
- --------------------------------------------------------------------------------
(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
* 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 CORP.
BY: /s/ Charles O. Ryan
-----------------------
Name: Charles O. Ryan
Title: Senior Vice President
Dated: June 28, 1999
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination 10-Jun-99
Date:
Remittance Date: 15-Jun-99
Month End Date: 31-May-99
<TABLE>
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(a) Class I A Distribution 5,688,477.76
Amount
(b) Class I A Distribution 3,149,023.91
Principal
Scheduled Payments of 606,717.90
Principal
Partial 107,096.36
Prepayments
Scheduled Principal Balance Principal 1,545,516.47
Prepayment in Full
Scheduled Principal Balance Liquidated 889,693.18
Contracts
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest 2,539,453.85
Distribution
Class I A Interest 0.00
Shortfall
(d) Class I A Remaining Certificate 456,134,264.49
Balance
Class II A Remaining Certificate 235,577,133.73
Balance
(e) Class II A Distribution 3,119,206.93
Amount
(f) Class II A Distribution 2,072,032.29
Principal
Scheduled Payments of 275,154.12
Principal
Partial 78,289.67
Prepayments
Scheduled Principal Balance Principal 1,370,908.58
Prepayment in Full
Scheduled Principal Balance Liquidated 347,679.92
Contracts
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest 1,047,174.64
Distribution
Class II A Interest 0.00
Shortfall
(h) Class I A Pass Through 6.635000%
Rate
Class II A Pass Through 5.470000%
Rate
(i) Monthly Servicing Fee 580,777.04
(j) Delinquency # of Contracts Prin. Balance
------------------- ------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C>
a) One Monthly 189 6,772,706.32
Payment Delinquent
b) Two Monthly 58 2,257,289.85
Payments
c) Three or more 35 1,559,428.72
Monthly Payments
---------- -----------------
282 10,589,424.89
========== =================
(k) Repurchased Contracts Contract Number Repurchase Difference Paid by
Price Seller
----------- -----------------
0.00 0.00
----------- -----------------
Total Repurchases 0.00 0.00
=========== =================
(l) Repossessions or Number Actual Balance
Foreclosures
----------- -----------------
BOP 154 $ 5,385,285.66
Repossessions
Plus 52 1,667,710.51
Repossessions
this Month
Less -49 ($1,334,199.16)
Liquidations
----------- -----------------
EOP 157 $ 5,718,797.01
Repossessions
=========== =================
(m) Group I Enhancement 0.00
Payment
Group II Enhancement 0.00
Payment
(n) Monthly Advance Group I 0.00
Outstanding Amount Advanced 0.00
Group I
Monthly Advance Group II 0.00
Outstanding Amount Advanced 0.00
Group II
(o) Group I Deposit 0.00
to Special Account
Group II Deposit 0.00
to Special Account
(p) Amount Distributed to Class R 307,583.81
Certificateholders
(q) Net Weighted Average Contract 9.45%
Rate Group I
Net Weighted Average Contract 8.27%
Rate Group II
( r) Group I Pool Principal Balance 95.430756%
percentage
Group II Pool Principal Balance 94.325626%
percentage
(s) Aggregate Deficiency 0.00
Amounts
Servicer Deficiency Amounts 0.00
received
(t) Net Funds Carryover Amount paid to Class II A 0.00
Certificateholders
Net Funds Carryover Amount 0.00
remaining
</TABLE>
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