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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): March 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
* 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: April 22, 1999
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1999-1
Investor Number 51999021
Determination 12-Apr-99
Date:
Remittance Date: 15-Apr-99
Month End Date: 31-Mar-99
<TABLE>
- ---------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
(a) Class A-1 Distribution Amount 3,336,564.12
(b) Class A-1 Distribution Principal 2,657,700.51
Scheduled Payments of Principal 680,111.03
Partial Prepayments 479,920.72
Scheduled Principal Balance
Principal Prepayment in Full 1,374,615.35
Scheduled Principal Balance
Liquidated Contracts 123,053.41
Scheduled Principal Balance
Repurchases 0.00
(c) Class A-1 Interest Distribution 678,863.61
Class A-1 Interest Shortfall 0.00
(d) Class A-1 Remaining Certificate Balance 138,282,841.50
(e) Class A-2 Distribution Amount 628,545.83
(f) Class A-2 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Payments 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
(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 524,249.80
(w) Delinquency # of Contracts Prin. Balance
-------------- -------------
a) One Monthly Payment
Delinquent 148 5,760,131.39
b) Two Monthly Payments 19 710,534.55
c) Three or more Monthly
Payments 0 0.00
---------- --------------
167 6,470,665.94
========== ==============
</TABLE>
<TABLE>
<S> <C> <C> <C>
Difference
(x) Repurchased Contracts Contract Number Purchase Price Paid by Seller
---------------- --------------- ---------------
0 0.00 0.00
--------------- ---------------
Total Repurchases 0.00 0.00
=============== ===============
(y) Repossessions or Foreclosures Number Actual Balance
---------- ---------------
BOP 18 $ 562,801.50
Repossessions
Plus Repossessions 32 1,039,142.48
this Month
Less Liquidations -6 ($123,761.88)
---------- ---------------
EOP 44 $ 1,478,182.10
Repossessions
========== ===============
</TABLE>
<TABLE>
<S> <C> <C>
(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 1,079,915.97
(cc) Amount Distributed to Class R Certificateholders 1,079,915.97
(dd) Net Weighted Average Contract Rate 9.40%
(ee) Number of Manufactured Homes currently held due to repossession 44
Principal balance of Manufactured Homes currently held 1,478,182.10
(ff) Class A-1 Pool Principal Balance percentage 96.364349%
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 0.00
Amounts
Servicer Deficiency 0.00
Amounts received
</TABLE>
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