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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): April 30, 1999
GREENPOINT CREDIT CORP.
- --------------------------------------------------------------------------------
(exact name of registrant as specified in charter)
DELAWARE
- --------------------------------------------------------------------------------
(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: May 22, 1999
San Diego, California
<PAGE>
<TABLE>
<CAPTION>
GreenPoint Manufactured
Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-May-99
Remittance Date: 17-May-99
Month End Date: 30-Apr-99
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(a) Class I A Distribution 5,787,393.03
Amount 3,230,079.53
(b) Class I A Distribution
Principal
Scheduled Payments of 607,599.27
Principal
Partial 160,442.42
Prepayments
Scheduled Principal Balance Principal 1,798,637.99
Prepayment in Full
Scheduled Principal Balance Liquidated 663,399.85
Contracts
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest 2,557,313.50
Distribution
Class I A Interest 0.00
Shortfall
(d) Class I A Remaining Certificate 459,283,288.40
Balance
Class II A Remaining Certificate 237,649,166.02
Balance
(e) Class II A Distribution 3,270,792.45
Amount
(f) Class II A Distribution 2,098,956.90
Principal
Scheduled Payments of 276,066.75
Principal
Partial 141,088.62
Prepayments
Scheduled Principal Balance Principal 1,427,981.22
Prepayment in Full
Scheduled Principal Balance Liquidated 253,820.31
Contracts
Scheduled Principal Balance Repurchase 0.00
(g) Class II A Interest 1,171,835.55
Distribution
Class II A Interest 0.00
Interest
Shortfall
(h) Class I A Pass Through 6.635000%
Rate
Class II A Pass Through 5.498750%
Rate
(i) Monthly Servicing Fee 585,217.91
(j) Delinquency # of Prin. Balance
Contracts
------------- -------------------
a) One Monthly 194 7,131,822.19
Payment Delinquent
b) Two Monthly 11 406,808.16
Payments
c) Three or more 13 595,518.74
Monthly Payments ------- ------------
218 8,134,149.09
======= ============
(k) Repurchased Contract Number Repurchase Difference Paid by
Contracts Price Seller
---------- -----------------------
0.00 0.00
---------- -----------------------
Total Repurchases 0.00 0.00
========== =======================
(l) Repossessions or Number Actual Balance
Foreclosures
---------- -----------------------
BOP 120 $ 4,169,441.83
Repossessions
Plus 62 2,137,855.62
Repossessions this Month
Less -28 ($922,011.79)
Liquidations
----------- -----------------------
EOP 154 $ 5,385,285.66
Repossessions
=========== =======================
(m) Group I Enhancement 0.00
Payment
Group II Enhancement 0.00
Payment
(n) Monthly Advance Group 0.00
I
Outstanding Amount Advanced 0.00
Group I
Monthly Advance Group 0.00
II
Outstanding Amount Advanced 0.00
Group II
(o) Group I Deposit to 0.00
Special Account
Group II Deposit to 0.00
Special Account
(p) Amount Distributed to Class R 342,635.48
Certificateholders
(q) Net Weighted Average Contract 9.45%
Rate Group I
Net Weighted Average Contract 8.26%
Rate Group II
( r) Group I Pool Principal Balance 96.089583%
percentage
Group II Pool Principal Balance 95.155272%
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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