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Previous: LANDAIR CORP, 8-K, 1999-01-22 |
Next: GREENPOINT CREDIT CORP, 8-K, 1999-01-22 |
<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): December 31, 1998
GREENPOINT CREDIT CORP.
- --------------------------------------------------------------------------------
(exact name of registrant as specified in charter)
DELAWARE
- --------------------------------------------------------------------------------
(state or other jurisdiction of incorporation)
333-59731
- --------------------------------------------------------------------------------
(commission file number)
13-4002891
- --------------------------------------------------------------------------------
(I.R.S. employer identification number)
10089 Willow Creek Road
San Diego, California 92131
(619) 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 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: December 28, 1998
San Diego, California
<PAGE>
Exhibit 99
[LOGO OF GREENPOINT CREDIT]
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Jan-99
Remittance Date: 15-Jan-99
Month End Date: 31-Dec-98
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(a) Class I A Distribution Amount 7,727,835.80
(b) Class I A Distribution Principal 3,961,271.20
Scheduled Payments of Principal 575,660.94
Partial Prepayments 117,816.78
Scheduled Principal Balance Principal Prepayment in Full 3,205,391.45
Scheduled Principal Balance Liquidated Contracts 62,402.03
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 3,766,564.60
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 471,248,059.66
Class II A Remaining Certificate Balance 245,602,634.43
(e) Class II A Distribution Amount 4,104,690.04
(f) Class II A Distribution Principal 2,798,456.89
Scheduled Payments of Principal 265,902.62
Partial Prepayments 71,752.30
Scheduled Principal Balance Principal Prepayment in Full 2,408,869.49
Scheduled Principal Balance Liquidated Contracts 51,932.48
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,306,233.15
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 9.511340%
Class II A Pass Through Rate 6.106720%
(i) Monthly Servicing Fee 603,008.69
(j) Delinquency # of Contracts Prin. Balance
-------------- ---------------
a) One Monthly Payment Delinquent 183 6,420,645.13
b) Two Monthly Payments 47 1,578,261.00
c) Three or more Monthly Payments 0 0.00
-------------- ---------------
230 7,998,906.13
============= ===============
(k) Repurchased Contracts Contract Number Repurchase Price Difference Paid by Seller
---------------- -------------------------
0.00 0.00
-------------- ---------------
Total Repurchases 0.00 0.00
============== =================
(l) Repossessions or Foreclosures Number Actual Balance
-------------- -----------------
BOP Repossessions 4 $105,346.03
</TABLE>
<PAGE>
[LOGO OF GREENPOINT CREDIT]
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Jan-99
Remittance Date: 15-Jan-99
Month End Date: 31-Dec-98
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Plus Repossessions this Month 39 1,189,947.63
Less Liquidations -5 $ (114,855.36)
-------- -------------
EOP Repossessions 38 $1,180,438.30
======== =============
(m) Group I Enhancement Payment 0.00
Group II Enhancement Payment 0.00
(n) Monthly Advance Group I 0.00
Outstanding Amount Advanced Group I 0.00
Monthly Advance Group II 0.00
Outstanding Amount Advanced Group II 0.00
(o) Group I Deposit to Special Account 0.00
Group II Deposit to Special Account 0.00
(p) Amount Distributed to Class R Certificateholders 555,455.37
(q) Net Weighted Average Contract Rate Group I 9.54%
Net Weighted Average Contract Rate Group II 8.32%
(r) Group I Pool Principal Balance percentage 98.592809%
Group II Pool Principal Balance percentage 98.339860%
(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
Special Account Deposit Amount
(a) Required Special Account Maximum
(b) Unreimbursed draws in the Policy 84,256,466.79
(c) Unreimbursed amounts payable to MBIA 0.00
(d) Premiums unpaid 0.00
(e) Other amonts payable to MBIA 0.00
(f) Fees and interest on any draws on the Letter of Credit 0.00
Special Account Deposit Amount 0.00
-------------
84,256,466.79
-------------
Required Special Account Maximum
(a) Initial Class I Certificate Balance 10.60%
(b) Initial Class II A Certificate Balance 13.45% 477,974,066.81
(c) Aggregate Principal Balance of Contracts 9 months or more past due 249,748,815.66
0.00
</TABLE>
<PAGE>
[LOGO OF GREENPOINT CREDIT]
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Jan-99
Remittance Date: 15-Jan-99
Month End Date: 31-Dec-98
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
31-Day Delinquency Percentage
60-Day Delinquency Percentage 0.59%
Scheduled 0.08%
Liquidated Contracts Principal Accrued Interest
Period Ending: 31-Dec-98 65,655.36 2,759.69 Proceeds
Period Ending: 30-Nov-98 0.00 0.00 48,679.15
Period Ending: 0.00
Current Realized Losses
Period Ending: 31-Dec-98 0.01%
Period Ending: 30-Nov-98 0.00%
Period Ending: 0.00%
Current Realized Loss Ratio 0.01%
Cumulative Realized Losses 0.01%
Available letter of Credit 84,256,466.79
Draws to the Letter of Credit 0.00
Reimbursements to the Letter of Credit 0.00
</TABLE>
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