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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): January 31, 2000
GREENPOINT CREDIT, LLC
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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)
33-0862379
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(I.R.S. employer identification number)
10089 WILLOW CREEK ROAD
SAN DIEGO, CALIFORNIA 92131
(858) 530-9394
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(address and telephone number of registrant's principal executive offices)
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
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* 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.
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* 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
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Name: Charles O. Ryan
Title: Vice President
Dated: March 27, 2000
San Diego, California
GREENPOINT MANUFACTURED HOUSING CONTRACT TRUST
PASS THROUGH CERTIFICATES
SERIES 1998-1
MONTHLY REPORT - COMBINED
Determination Date: 10-Feb-00
Remittance Date: 15-Feb-00
Month End Date: 31-Jan-00
<TABLE>
<CAPTION>
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<S> <C> <C>
(a) Class I A Distribution Amount 5,768,633.71
(b) Class I A Distribution Principal 3,387,846.05
Scheduled Payments of Principal 592,257.92
Partial Prepayments 137,982.09
Scheduled Principal Balance Principal Prepayment in Full 1,124,815.96
Scheduled Principal Balance Liquidated Contracts 1,532,790.08
Scheduled Principal Balance Repurchases 0.00
(c) Class I A Interest Distribution 2,380,787.66
Class I A Interest Shortfall 0.00
(d) Class I A Remaining Certificate Balance 427,199,221.48
Class II A Remaining Certificate Balance 215,823,668.33
(e) Class II A Distribution Amount 2,677,558.10
(f) Class II A Distribution Principal 1,603,498.10
Scheduled Payments of Principal 230,703.23
Partial Prepayments 238,948.57
Scheduled Principal Balance Principal Prepayment in Full 527,468.61
Scheduled Principal Balance Liquidated Contracts 606,377.69
Scheduled Principal Balance Repurchases 0.00
(g) Class II A Interest Distribution 1,074,060.00
Class II A Interest Shortfall 0.00
(h) Class I A Pass Through Rate 6.635000%
Class II A Pass Through Rate 6.351250%
(i) Monthly Servicing Fee Class I A 358,822.56
Monthly Servicing Fee Class II A 181,189.31
(j) Delinquency # of Contracts Prin. Balance
-------------- --------------
a) One Monthly Payment Delinquent 397 14,599,336.45
b) Two Monthly Payments 117 4,502,262.34
c) Three or more Monthly Payments 127 5,942,902.54
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641 25,044,501.33
============== ==============
Repurchase
(k) Repurchased Contracts # of Contracts Price
(see attached) -------------- -------------
Total Repurchases 0 0.00
============== =============
(l) Repossessions or Foreclosures Number Actual Balance
-------------- ---------------
BOP Repossessions 283 $ 11,123,784.21
Plus Repossessions this Month 109 3,884,803.63
Less Liquidations (65) (2,169,236.92)
-------------- ---------------
EOP Repossessions 327 $ 12,839,350.92
============== ===============
(m) Group I Enhancement Payment 171,498.61
Group II Enhancement Payment 0.00
(n) Monthly Advance Group I 311,987.56
Outstanding Amount Advanced Group I 2,036,390.73
Monthly Advance Group II 31,093.05
Outstanding Amount Advanced Group II 997,810.13
(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 9.45%
Net Weighted Average Contract Rate Group II 9.04%
(r) Group I Pool Principal Balance percentage 89.377071%
Group II Pool Principal Balance percentage 86.416293%
(s) Aggregate Deficiency Amounts 45,681.16
Servicer Deficiency Amounts received 15,988.41
(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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