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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 reported): JULY 15, 1994
HOME IMPROVEMENT LOAN TRUST 1994-B1
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(Exact name of registrant as specified in its charter)
MINNESOTA 33-53449 APPLIED FOR
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file numbers) identification no.)
1100 LANDMARK TOWERS, 345 ST. PETER STREET, SAINT PAUL, MINNESOTA 55102-1639
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 293-3400
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NOT APPLICABLE
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(Former name or former address, if changed since last report.)
1
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ITEM 5. OTHER EVENTS.
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Pursuant to the Pooling and Servicing Agreement between Green
Tree Financial Corporation (the "Servicer") and First Trust
(N.A.) (the "Trustee"), on July 15, 1994, the Trustee made
distributions to the holders of the certificates representing
interests in the Trust (the "Certificateholders") and delivered
to the Certificateholders the Monthly Report required by Section
6.05 of the Pooling and Servicing Agreement attached hereto as
Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
---------------------------------
(c) Exhibits.
The following is filed herewith. The exhibit number
corresponds with Item 601(b) of Regulation S-K.
Exhibit No. Description
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99.1 Monthly Report delivered to
Certificateholders on July 15, 1994.
2
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 15, 1994
HOME IMPROVEMENT LOAN TRUST 1994-B1
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/Robley D. Evans
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ROBLEY D. EVANS
Vice President and Controller
3
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INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
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99.1 Monthly Report delivered to Certificateholders 5
on July 15, 1994.
4
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GREEN TREE FINANCIAL CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that he is a vice president and controller of Green
Tree Financial Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of June 1, 1994 between the Company and First Trust (N.A),
as Trustee of Home Improvement Loan Trust 1994-B1 (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from June 1, 1994 to June 30, 1994
attached to this certificate is complete and accurate in accordance with
the requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12 day of July,
1994.
GREEN TREE FINANCIAL CORP.
BY: /s/Robley D. Evans
-----------------------------
Robley D. Evans
Vice President and Controller
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GREEN TREE FINANCIAL CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that he is a Vice President and Controller of Green
Tree Financial Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 8.08 of the Pooling and Servicing Agreement (the
"Agreement") dated as of June 1, 1994 between the Company and First Bank (N.A.),
Milwaukee, Wisconsin, as Trustee of Green Tree Trust 1994-B1 (all capitalized
terms used herein without definition having the respective meanings specified in
the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the Company
on the date hereof pursuant to Sections 8.04 or 8.07 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.08 of the Agreement, be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12 day of July,
1994.
GREEN TREE FINANCIAL CORP.
BY: /s/Robley D. Evans
-----------------------------
Robley D. Evans
Vice President and Controller
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1994-B1
MONTHLY REPORT
June 1994
<TABLE>
<CAPTION>
Distribution Date: 7/15/94
Trust Account: 3331994-0
CLASS A-1 CERTIFICATES
<S> <C>
1. Amount Available (including Monthly
Servicing Fee) $2,062,585.61
INTEREST
2. Class A-1 Interest (7.15%) 235,056.25
3. Amount applied to Unpaid Class A-1
Interest Shortfall .00
4. Remaining Unpaid Class A-1 Interest
Shortfall .00
PRINCIPAL
5. Principal Distribution Amount: 1,392,729.53
(a) Scheduled Principal 335,777.85
(b) Principal Prepayments 1,056,951.68
(c) Liquidation Contracts .00
(d) Repurchase .00
6. Pool Scheduled Principal Balance 103,562,666.47
7. Unpaid Class A-1 Principal Shortfall
(if any) following prior Payment Date .00
8. Class A-1 Principal Distribution 1,392,729.53
9. Class A-1 Principal Balance 77,507,270.47
10. Unpaid Class A-1 Principal Shortfall
(if any) following current Payment Date .00
CLASS M-1 CERTIFICATES
11. Amount Available less the Class A-1
Distribution Amount (including Monthly
Servicing Fee) 434,799.83
INTEREST
12. Class M-1 Pass-Through Rate 8.15%
13. Current interest 32,393.58
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1994-B1
MONTHLY REPORT
Page 2
June 1994
<TABLE>
<CAPTION>
Distribution Date: 7/15/94
Trust Account: 3331994-0
<S> <C>
14. Amount applied to Unpaid Class M-1
Interest Shortfall .00
15. Remaining Unpaid Class M-1 Interest
Shortfall .00
PRINCIPAL
16. Unpaid Class M-1 Principal Shortfall
(if any) following prior Payment Date .00
17. Current Principal .00
18. (a) Class M-1 Principal Shortfall .00
(b) Unpaid Class M-1 Principal Shortfall .00
19. Class M-1 Principal Balance 9,700,000.00
CLASS B-1 CERTIFICATES
20. Amount Available less the Class A-1 and
Class M-1 Distribution Amounts (including
Monthly Servicing Fee) 401,860.25
INTEREST
21. Class B-1 Pass-Through Rate 8.55%
22. Current Interest 26,006.25
23. Amount applied to Unpaid Class B-1
Interest Shortfall .00
24. Remaining Class B-1 Interest Shortfall .00
PRINCIPAL
25. Unpaid Class B-1 Principal Shortfall
(if any) following prior Payment Date .00
26. Current Principal .00
27. (a) Class B-1 Principal Shortfall .00
(b) Unpaid Class B-1 Principal Shortfall .00
28. Class B-1 Principal Balance 7,300,000.00
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1994-B1
MONTHLY REPORT
Page 3
June 1994
<TABLE>
<CAPTION>
Distribution Date: 7/15/94
Trust Account: 3331994-0
<S> <C>
CLASS B-2 CERTIFICATES
29. Remaining Amount Available 375,854.00
INTEREST
30. Class B-2 Pass-Through Rate (8.70%,
unless Weighted Average Contract Rate
is less than 8.70%) 8.70%
31. Current Interest 32,825.81
32. Amount applied to Unpaid Class B-2
Interest Shortfall .00
33. Remaining Unpaid Class B-2 Interest
Shortfall .00
PRINCIPAL
34. Unpaid Class B-2 Principal Shortfall
(if any) following prior Payment Date .00
35. Class B-2 Principal Liquidation Loss .00
36. Current Principal .00
37. Class B-2 Guaranty Payment .00
38. Class B-2 Principal Balance 9,055,396.00
CLASS A-1, CLASS M-1, CLASS B-1, AND CLASS B-2 CERTIFICATES
Aggregate Scheduled Balances of Delinquent Contracts as of
Determination Date
39. 30-59 Days 22,502.75 3
40. 60 Days or more 44,804.96 3
41. Liquidation Contracts .00
42. Number of Loans Remaining 8,069
43. Number and Principal Balance of
Contracts with FHA Claims finally
rejected, or no FHA claim was submitted
because FHA insurance was unavailable # 0 .00
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1994-B1
MONTHLY REPORT
Page 4
June 1994
<TABLE>
<CAPTION>
Distribution Date: 7/15/94
Trust Account: 3331994-0
<S> <C>
44. Weighted Average Contract Rate of
all outstanding Contracts 11.735%
45. Monthly Servicing Fee 65,597.12
46. Guarantee Fee and Reimbursement to Company
for prior Class B-2 Guarantee Payments 262,388.49
CLASS C CERTIFICATE
47. Class C Residual Payment 15,042.58
</TABLE>
Please contact the Bondholder Relations Department of First Trust National
Association at (612) 244-0444 with any questions regarding this Statement or
your Distribution.
