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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): June 30, 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 CORP.
BY: /s/ Charles O. Ryan
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Name: Charles O. Ryan
Title: Senior Vice President
Dated: July 29, 1999
San Diego, California
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GreenPoint Manufactured Housing
Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Jul-99
Remittance Date: 15-Jul-99
Month End Date: 30-Jun-99
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<S> <C> <C>
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(a) Class I A Distribution Amount 6,839,071.77
(b) Class I A Distribution Principal 4,317,029.40
Scheduled Payments of Principal 604,198.64
Partial Prepayments 275,599.94
Scheduled Principal Balance Principal Prepayment in Full 2,052,086.43
Scheduled Principal Balance Liquidated Contracts 1,385,144.39
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,522,042.37
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 451,817,235.09
Class II A Remaining Certificate Balance 233,130,786.03
(e) Class II A Distribution Amount 3,539,818.23
(f) Class II A Distribution Principal 2,446,347.70
Scheduled Payments of Principal 268,194.76
Partial Prepayments 126,002.47
Scheduled Principal Balance Principal Prepayment in Full 1,489,701.16
Scheduled Principal Balance Liquidated Contracts 562,449.31
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,093,470.53
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 5.570000%
(i) Monthly Servicing Fee 576,426.17
(j) Delinquency # of Contracts Prin. Balance
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a) One Monthly Payment Delinquent 215 7,712,928.48
b) Two Monthly Payments 77 2,977,172.00
c) Three or more Monthly Payments 51 2,163,216.95
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343 12,853,317.43
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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 157 $ 5,718,797.01
Plus Repossessions this 53 1,686,499.58
Month
Less Liquidations (60) (1,967,193.65)
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EOP Repossessions 150 $ 5,438,102.94
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(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 10,981.89
(q) Net Weighted Average Contract Rate Group I 9.45%
Net Weighted Average Contract Rate Group II 8.31%
(r) Group I Pool Principal Balance percentage 94.527563%
Group II Pool Principal Balance percentage 93.346103%
(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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