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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.
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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)
<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: April 22, 1999
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through Certificates
Series 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 12-Apr-99
Remittance Date: 15-Apr-99
Month End Date: 31-Mar-99
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<TABLE>
<CAPTION>
<S> <C> <C> <C>
(a) Class I A Distribution Amount 5,721,627.01
(b) Class I A Distribution Principal 3,146,913.70
Scheduled Payments of Principal 586,555.77
Partial Prepayments 216,022.45
Scheduled Principal Balance Principal Prepayment 1,794,581.00
in Full
Scheduled Principal Balance Liquidated Contracts 549,754.48
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,574,713.31
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 462,513,367.93
Class II A Remaining Certificate Balance 239,748,122.92
(e) Class II A Distribution Amount 2,940,310.72
(f) Class II A Distribution Principal 1,794,776.74
Scheduled Payments of Principal 271,120.10
Partial Prepayments 47,180.41
Scheduled Principal Balance Principal Prepayment 1,112,332.71
in Full
Scheduled Principal Balance Liquidated Contracts 364,143.52
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,145,533.98
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 5.507500%
(i) Monthly Servicing Fee 589,335.98
(j) Delinquency
<CAPTION>
# of Contracts Prin. Balance
--------------------- ---------------------------
<S> <C> <C>
a) One Monthly Payment Delinquent 185 6,713,133.63
b) Two Monthly Payments 15 643,634.79
c) Three or more Monthly Payments 12 472,542.62
--------------------- ---------------------------
212 7,829,311.04
===================== ===========================
<CAPTION>
(k) Repurchased Contracts Contract Number Repurchase Price Difference Paid by
Seller
--------------------------------------------------------------
<S> <C> <C> <C>
0.00 0.00
--------------------- --------------------------
Total Repurchases 0.00 0.00
===================== ==========================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
(l) Repossessions or
Foreclosures Number Actual Balance
--------------------- ---------------------------
<S> <C> <C> <C>
EOP Repossessions 80 $ 2,595,853.59
Plus Repossessions this Month 71 2,492,977.36
Less Liquidations -31 ($919,389.12)
--------------------- ---------------------------
EOP Repossessions 120 $ 4,169,441.83
===================== ===========================
(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 853,150.37
(q) Net Weighted Average Contract Rate Group I 9.48%
Net Weighted Average Contract Rate Group II 8.28%
(r) Group I Pool Principal Balance percentage 96.765369%
Group II Pool Principal Balance percentage 95.995700%
(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>
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