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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): NOVEMBER 15, 1994
FHA TITLE I HOME IMPROVEMENT LOAN TRUST 1994-CI
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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 November 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 November 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: November 15, 1994
FHA TITLE I HOME IMPROVEMENT LOAN
TRUST 1994-CI
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 November 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 September 1, 1994 between the Company and First Trust
(N.A), as Trustee of FHA Title I Home Improvement Loan Trust 1994-CI (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 October 1, 1994 to October 31, 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 9 day of November,
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 his 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 8.06 of the Pooling and Servicing Agreement (the
"Agreement") dated as of September 1, 1994 between the Company and First Trust
National Association, as Trustee of FHA Title I Home Improvement Loan Trust
1994-CI (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 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 9 day of November,
1994.
GREEN TREE FINANCIAL CORP.
BY: /s/Robley D. Evans
-----------------------------
Robley D. Evans
Vice President and Controller
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HOME IMPROVEMENT LOANS
CERTIFICATES FOR HOME IMPROVEMENT LOAN
GREEN TREE TRUST
1994-CI
MONTHLY REPORT
October 1994
Distribution Date: 11/15/94
Trust Account: 3333834-0
<TABLE>
<CAPTION>
<S> <C> <C>
1. Collected Amount $3,167,774.07
2. Delinquent Payments Advanced/Recovered 16,382.09
3. Aggregate Repurchase Price for Contracts
to be Repurchased 111,424.03
4. Amount Available (1+2+3) 3,295,580.19
INTEREST
5. Class A-1 Interest (7.45%)
(a) Current Interest 619,798.00
(b) Amount applied to Unpaid Class A-1
Interest Shortfall .00
(c) Remaining Unpaid Class A-1 Interest
Shortfall .00
6. Class M-1 Interest
(a) Class M-1 Pass-Through Rate (lesser of 8.50%
or Weighted Average Contract Rate) 8.50%
(b) Current Interest 85,000.00
(c) Amount Applied to Unpaid Class M-1
Interest Shortfall .00
(d) Remaining Unpaid Class M-1 Interest
Shortfall .00
7. Class B-1 Interest
(a) Class B-1 Pass-Through Rate (lesser of 8.80%
or Weighted Average Contract Rate) 8.80%
(b) Current Interest 68,933.33
(c) Amount Applied to Unpaid Class B-1
Interest Shortfall .00
(d) Remaining Unpaid Class B-1 Interest
Shortfall .00
8. Class B-2 Interest
(a) Class B-2 Pass-Through Rate (lesser of 8.90%
or Weighted Average Contract Rate) 8.90%
(b) Current Interest 79,490.10
(c) Amount Applied to Unpaid Class B-2
Interest Shortfall .00
(d) Remaining Unpaid Class B-2 Interest
Shortfall .00
9. Monthly Principal
(1) Regular Principal Payment $ 434,998.58
(2) Principal Prepayments 1,453,641.41
(3) Delinquent Payments Advanced 31,690.40
(4) Net Losses .00
</TABLE>
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HOME IMPROVEMENT LOANS
CERTIFICATES FOR HOME IMPROVEMENT LOAN
GREEN TREE TRUST
1994-CI
MONTHLY REPORT
October 1994
Distribution Date: 11/15/94
Trust Account: 3333834-0
<TABLE>
<S> <C> <C>
(5) Contracts Repurchased due to
Breach of Representations and
Warranties (see attached) 110,674.21
(6) Bankruptcy Write-down .00
(7) Unpaid Principal from Prior
Months .00
(8) Delinquent Payments Recovered (26,058.85)
Total Principal 2,004,945.75
10. Class A-1 Principal Distribution 2,004,945.75
10(a) Class A-1 Principal Balance 97,828,289.51
11. Class M-1 Principal Distribution .00
11(a) Class M-1 Principal Balance 12,000,000.00
12. Class B-1 Principal Distribution .00
12(a) Class B-1 Principal Balance 9,400,000.00
13. Class B-2 Principal Distribution .00
14. Pool Scheduled Principal Balance 129,946,055.51
15. Class B-2 Principal Liquidation Loss Amount .00
16. Class B-2 Guaranty Payment .00
17. Class B-2 Principal Balance 10,717,766.00
18. Pool Factor
(a) Previous Month Pool Factor .98678736
(b) Current Month Pool Factor .97179350
19. Aggregate Scheduled Balances of Delinquent
Contracts as of Determination Date
(1) 31 - 59 days 125,867.61 16
(2) 60 - 89 days 25,751.40 2
(3) 90 days or more 2,426.35 1
20. Liquidated Contracts .00
21. Number of Loans Remaining 9,509
22. Number and Principal Balance of Contracts
with FHA Claims finally rejected, or no
FHA claim was submitted because FHA
insurance was unavailable 0 0.00
</TABLE>
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HOME IMPROVEMENT LOANS
CERTIFICATES FOR HOME IMPROVEMENT LOAN
GREEN TREE TRUST
1994-CI
MONTHLY REPORT
October 1994
Distribution Date: 11/15/94
Trust Account: 3333834-0
<TABLE>
<S> <C> <C>
23. Weighted Average Contract Rate of all
outstanding Contracts 11.67298
24. Monthly Servicing Fee (.75%) 82,469.38
25. Guaranty Fee (3% cap) and reimbursement to
Company for prior Class B-2 Guaranty Payments 329,877.50
CLASS C CERTIFICATE
26. Class C. Residual Payment 25,066.13
</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.
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GTHI
1994-CI
October, 1994
Contracts Repurchased Due to
Breach of Representation and Warranties*
<TABLE>
<CAPTION>
Repurchase
Account# Principal Interest Amount
- -------- ----------- -------- ----------
<S> <C> <C> <C>
15623332 $ 88,490.23 $599.52 $ 89,089.80
15645953 15,212.70 103.07 15,315.77
15646558 6,971.23 47.23 7,018.46
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TOTALS $110,674.21 $749.82 $111,424.03
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</TABLE>
* Unable to locate original loan documents.
