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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): December 31, 1999
GREENPOINT CREDIT, LLC
- -------------------------------------------------------------------------------
(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)
<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
* 4. Pooling and Servicing Agreement, dated as of
February 1, 1999, between Greenpoint Credit, LLC, 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 March 1 1999 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
------------------------
Name: Charles O. Ryan
Title: Vice President
Dated: January 25, 2000
San Diego, California
<PAGE>
GreenPoint Manufactured Housing Contract Trust
Pass Through
Certificates
Series 1999-1
Investor Number 51999021
Determination Date: 12-Jan-00
Remittance Date: 18-Jan-00
Month End Date: 31-Dec-99
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<TABLE>
<S> <C> <C>
(a) Class A-1 Distribution Amount 5,604,790.68
(b) Class A-1 Distribution Principal 5,085,192.69
Scheduled Payments of Principal 693,456.31
Partial Prepayments 422,615.62
Scheduled Principal Balance Principal Prepayment in Full 1,583,080.12
Scheduled Principal Balance Liquidated Contracts 2,386,040.64
Scheduled Principal Balance Repurchases 0.00
(c) Class A-1 Interest Distribution 519,597.99
Class A-1 Interest Shortfall 0.00
(d) Class A-1 Remaining Certificate Balance 102,789,822.91
(e) Class A-2 Distribution Amount 628,545.83
(f) Class A-2 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(g) Class A-2 Interest Distribution 628,545.83
Class A-2 Interest Shortfall 0.00
(h) Class A-2 Remaining Certificate Balance 125,500,000.00
(i) Class A-3 Distribution Amount 463,341.67
(j) Class A-3 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(k) Class A-3 Interest Distribution 463,341.67
Class A-3 Interest Shortfall 0.00
(l) Class A-3 Remaining Certificate Balance 91,000,000.00
(m) Class A-4 Distribution Amount 400,625.00
(n) Class A-4 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(o) Class A-4 Interest Distribution 400,625.00
Class A-4 Interest Shortfall 0.00
(p) Class A-4 Remaining Certificate Balance 75,000,000.00
(q) Class A-5 Distribution Amount 1,109,485.74
(r) Class A-5 Distribution Principal 0.00
Scheduled Payments of Principal 0.00
Partial Prepayments 0.00
Scheduled Principal Balance Principal Prepayment in Full 0.00
Scheduled Principal Balance Liquidated Contracts 0.00
Scheduled Principal Balance Repurchases 0.00
(s) Class A-5 Interest Distribution 1,109,485.74
Class A-5 Interest Shortfall 0.00
(t) Class A-5 Remaining Certificate Balance 196,659,215.00
(u) Class A-1 Pass Through Rate 5.780000%
Class A-2 Pass Through Rate 6.010000%
Class A-3 Pass Through Rate 6.110000%
Class A-4 Pass Through Rate 6.410000%
Class A-5 Pass Through Rate 6.770000%
(v) Monthly Servicing Fee 496,695.19
(w) Delinquency # of Contracts Prin. Balance
-------------- -------------
a) One Monthly Payment Delinquent 393 13,912,460.07
b) Two Monthly Payments 123 5,076,476.74
c) Three or more Monthly Payments 133 5,187,842.97
------------ ----------------
649 24,176,779.78
============ ================
Difference
(x) Repurchased Contracts Contract Number Repurchase Price Paid by Seller
-------------- ---------------- --------------
0 0.00 0.00
------------ ----------------
Total Repurchases 0.00 0.00
============ ================
(y) Repossessions or Foreclosures Number Actual Balance
------ --------------
BOP Repossessions 260 $9,889,715.80
Plus Repossessions 96 3,023,479.20
this Month
Less Liquidations (72) (2,412,022.17)
------------ ----------------
EOP Repossessions 284 $10,501,172.83
============ ================
(z) Class A-1 Enhancement Payment 0.00
Class A-2 Enhancement Payment 0.00
Class A-3 Enhancement Payment 0.00
Class A-4 Enhancement Payment 0.00
Class A-5 Enhancement Payment 0.00
(aa) Monthly Advance 514,153.44
Outstanding Amount Advanced 1,075,209.31
(bb) Deposit to Special Account/Distribution to Class R Certificateholders 0.00
(cc) Amount Distributed to Class R Certificateholders 0.00
(dd) Net Weighted Average Contract Rate 9.37%
(ee) Number of Manufactured Homes currently held due to repossession 0
Principal balance of Manufactured Homes currently held 10,501,172.83
(ff) Class A-1 Pool Principal Balance percentage 71.630539%
Class A-2 Pool Principal Balance percentage 100.000000%
Class A-3 Pool Principal Balance percentage 100.000000%
Class A-4 Pool Principal Balance percentage 100.000000%
Class A-5 Pool Principal Balance percentage 100.000000%
(gg) Aggregate Deficiency Amounts 16,077.37
Servicer Deficiency Amounts received 5,627.08
</TABLE>
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