<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): September 30, 1999
GREENPOINT CREDIT, LLC
- --------------------------------------------------------------------------------
(exact name of registrant as specified in charter)
DELAWARE
- --------------------------------------------------------------------------------
(state or other jurisdiction of incorporation)
333-59731
- --------------------------------------------------------------------------------
(commission file number)
33-0862379
- --------------------------------------------------------------------------------
(I..R.S. employer identification number)
10089 Willow Creek Road
San Diego, California 92131
(858) 530-9394
- --------------------------------------------------------------------------------
(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, LLC, 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,
LLC, 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
------------------------
Name: Charles O. Ryan
Title: Vice President
Dated: October, 18, 1999
San Diego, California
<PAGE>
Exhibit 99
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Oct-99
Remittance Date: 15-Oct-99
Month End Date: 30-Sep-99
- --------------------------------------------------------------------------------
<TABLE>
<S> <C> <C> <C>
(a) Class I A Distribution Amount 5,967,234.22
(b) Class I A Distribution Principal 3,504,532.03
Scheduled Payments of Principal 598,167.49
Partial Prepayments 209,934.68
Scheduled Principal Balance Principal Prepayment
in Full 1,311,914.12
Scheduled Principal Balance Liquidated Contracts 1,384,515.74
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,462,702.19
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 441,897,521.52
Class II A Remaining Certificate Balance 224,154,799.96
(e) Class II A Distribution Amount 4,417,083.49
(f) Class II A Distribution Principal 3,289,339.63
Scheduled Payments of Principal 204,806.26
Partial Prepayments 163,571.30
Scheduled Principal Balance Principal Prepayment
in Full 1,879,205.13
Scheduled Principal Balance Liquidated Contracts 735,577.87
Scheduled Principal Balance Repurchases 306,179.07
(g) Class II A Interest Distribution 1,127,743.86
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 5.950000%
(i) Monthly Servicing Fee Class I A 371,168.38
Monthly Servicing Fee Class II A 189,536.78
(j) Delinquency # of Contracts Prin. Balance
----------------------------------------------
a) One Monthly Payment Delinquent 294 10,502,378.35
b) Two Monthly Payments 104 4,057,183.31
c) Three or more Monthly Payments 94 4,357,752.06
---------- -----------------
Total 492 18,917,313.72
========== =================
(k) Repurchased Contracts # of Contracts Repurchase Price
----------------------------------------------
(see attached) Total Repurchases 6 306,179.07
=========== =================
(l) Repossessions or Foreclosures Number Actual Balance
----------- -----------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
BOP Repossessions 202 $7,543,942.09
Plus Repossessions
this Month 92 2,899,166.45
Less Liquidations (73) (2,225,113.92)
-------- -------------------
EOP Repossessions 221 $8,217,994.62
======== ===================
(m) Group I Enhancement Payment 0.00
Group II Enhancement Payment 0.00
(n) Monthly Advance Group I 333,439.63
Outstanding Amount Advanced Group I 391,185.49
Monthly Advance Group II 124,341.46
Outstanding Amount Advanced Group II 227,466.48
(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 8.97%
( r) Group I Pool Principal Balance percentage 92.452196%
Group II Pool Principal Balance percentage 89.752097%
(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
</TABLE>