<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 reported): SEPTEMBER 15, 1995
FHA TITLE I HOME IMPROVEMENT LOAN TRUST 1995-C
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(Exact name of registrant as specified in its charter)
MINNESOTA 33-55853 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 September 15, 1995, 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 September 15, 1995.
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: September 15, 1995
FHA TITLE I HOME IMPROVEMENT LOAN TRUST 1995-C
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/Phyllis A. Knight
----------------------------------
Phyllis A. Knight
Assistant Vice President and
Assistant Controller
3
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER PAGE
------ ----
<S> <C> <C>
99.1 Monthly Report delivered to Certificateholders 5
on September 15, 1995.
</TABLE>
4
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GREEN TREE FINANCIAL CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is assistant vice president and assistant
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, 1995 between the
Company and First Trust (N.A), as Trustee of FHA Title I Home Improvement Loan
Trust 1995-C (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 August 1, 1995 to August 31, 1995
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 12th day of
September, 1995.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
-----------------------------
Phyllis A. Knight
Assistant Vice President and
Assistant Controller
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is assistant vice president and assistant
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 June 1, 1995 between the
Company and First Trust National Association, as Trustee of FHA Title I Home
Improvement Loan Trust 1995-C (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 12th day of
September, 1995.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
-----------------------------
Phyllis A. Knight
Assistant Vice President and
Assistant Controller
<PAGE>
HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-C
MONTHLY REPORT
August, 1995
<TABLE>
<CAPTION>
Distribution Date: 9/15/95
CUSIP#: 393505 GV8,GW6,GX4,GY2,GZ9,
HA3,HB1
Trust Account: 3334223-0
<S> <C> <C>
1. Collected Amount $3,365,662.23
2. Delinquent Payments Advanced/Recovered 17,025.68
3. Aggregate Repurchase Price for Contracts
to be Repurchased .00
4. Amount Available (1+2+3) $3,382,687.91
INTEREST
5. Class A-1 Interest (6.20%)
(a) Current Interest $ 219,148.76
(b) Amount applied to Unpaid Class
A-1 Interest Shortfall .00
(c) Remaining Unpaid Class A-1 Interest Shortfall .00
6. Class A-2 Interest (6.35%)
(a) Current Interest $ 158,750.00
(b) Amount applied to Unpaid Class
A-2 Interest Shortfall .00
(c) Remaining Unpaid Class A-2 Interest Shortfall .00
7. Class A-3 Interest (6.55%)
(a) Current Interest $ 97,704.17
(b) Amount applied to Unpaid Class
A-3 Interest Shortfall .00
(c) Remaining Unpaid Class A-3 Interest Shortfall .00
8. Class M-1 Interest (7.05%)
(a) Current Interest $ 90,475.00
(b) Amount applied to Unpaid Class
M-1 Interest Shortfall .00
(c) Remaining Unpaid Class M-1 Interest Shortfall .00
9. Class M-2 Interest (7.30%)
(a) Current Interest $ 68,133.33
(b) Amount applied to Unpaid Class
M-2 Interest Shortfall .00
(c) Remaining Unpaid Class M-2 Interest Shortfall .00
10. Class B-1 Interest (7.20%)
(a) Current Interest $ 67,620.00
(b) Amount applied to Unpaid Class
B-1 Interest Shortfall .00
(c) Remaining Unpaid Class B-1 Interest Shortfall .00
</TABLE>
<PAGE>
HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-C
MONTHLY REPORT
August 1995
Distribution Date: 9/15/95
CUSIP#: 393505 GV8,GW6,GX4,GY2,GZ9,
HA3,HB1
Trust Account: 3334223-0
<TABLE>
<CAPTION>
<S> <C> <C>
11. Class B-2 Interest (7.60%)
(a) Current Interest $ 53,260.84
(b) Amount applied to Unpaid Class
B-2 Interest Shortfall .00
(c) Remaining Unpaid Class B-2 Interest Shortfall .00
12. Monthly Principal
(1) Regular Principal Payments $ 385,489.38
(2) Principal Prepayments 1,566,821.57
(3) Delinquent Principal Advanced 29,671.24
(4) Net Losses 15,620.35
(5) Contracts Repurchased due to Breach
of Representations and Warranties
(See attached) .00
(6) Bankruptcy Write-Down .00
(7) Unpaid Principal from Prior Months .00
(8) Delinquent Payments Recovered (23,994.11)
Total Principal 1,973,608.43
13. Senior Percentage for such Payment Date 100%
14. Senior Percentage for following Payment Date 100%
15. Class A-1 Principal Distribution 1,973,608.43
(a) Class A-1 Principal Balance 40,442,280.43
16. Class A-2 Principal Distribution .00
(a) Class A-2 Principal Balance 30,000,000.00
17. Class A-3 Principal Distribution .00
(a) Class A-3 Principal Balance 17,900,000.00
18. Class M-1 Principal Distribution .00
(a) Class M-1 Principal Balance 15,400,000.00
19. Class M-2 Principal Distribution .00
(a) Class M-2 Principal Balance 11,200,000.00
CLASS B PRINCIPAL DISTRIBUTION TESTS
20. Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for Current
Payment Date .11%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two
preceding months; may not exceed 2.5%) .06%
</TABLE>
<PAGE>
HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-C
MONTHLY REPORT
August 1995
Distribution Date: 9/15/95
CUSIP#: 393505 GV8,GW6,GX4,GY2,GZ9,
HA3,HB1
Trust Account: 3334223-0
21. Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for Current
Payment Date .13%
(b) Average Thirty-Day Delinquency Ratio
(arithmetic average of ratios for this month
and two preceding months; may not exceed 5.0%) .10%
22. Cumulative Realized Losses Test
(a) Cumulative Realized Losses for Current Payment
Date (as a percentage of Cut-off Date Pool
Principal Balance; may not exceed 10.0% from
July 1, 1998 to June 30, 2001, 11.0% from July 1,
2001 to June 30, 2002 and 12.0% thereafter) .01%
23. Current Realized Losses Test
(a) Current Realized Losses for Current
Payment Date 16,736.15
(b) Current Realized Loss Ratio (total Realized
Losses for most recent three months, multiplied
by 4, divided by arithmetic average of Pool
Scheduled Principal Balances for third preceding
Payment and for current Payment Date; may not
exceed 2.5%) .05%
24. Class B Principal Balance Test
(a) Class B Principal Balance (before any distributions
on Current Payment Date) divided by Pool Scheduled
Principal Balance for prior Payment Date (must
equal or exceed 28.0%) 14.41%
25. Class B-1 Principal Distribution Amount .00
(a) Class B-1 Principal Balance 11,270,000.00
26. Class B-2 Principal Distribution Amount .00
27. Class B-2 Distribution (11+26) 53,260.84
28. Class B-2 Formula Distribution Amount 53,260.84
29. Aggregate Certificate Principal Balance 134,621,887.43
30. Pool Scheduled Principal Balance 134,621,887.43
31. Class B-2 Principal Deficiency Amount (29-30) .00
32. Class B-2 Guaranty Payment (28+31) -27 .00
<PAGE>
HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-C
MONTHLY REPORT
August 1995
<TABLE>
<CAPTION>
Distribution Date: 9/15/95
CUSIP#: 393505 GV8,GW6,GX4,GY2,GZ9,
HA3,HB1
Trust Account: 3334223-0
<S> <C> <C> <C> <C>
33. Class B-2 Principal Balance 8,409,607.00
34. Cumulative Class B-2 Guaranty Payment to Date .00
35. Pool Factor
Previous Month Pool Factor .97443201
Current Month Pool Factor .96035287
36. Aggregate Scheduled Balances of Delinquent
Contracts as of Determination Date
(a) 31-59 days 175,915.48 20
(b) 60-89 days 117,356.86 11
(c) 90 or more days 26,881.40 3
37. Liquidated Contracts 15,710.68
38. Number of Loans Remaining 8,966
39. Number and Principal Balance of Contracts
with FHA Claims finally rejected, or no FHA
claim was submitted because FHA Insurance
was unavailable 1 15,620.35
40. Monthly Servicing Fee (.75%) 85,372.18
41. Guaranty Fee (3% cap) and reimbursement to
Company for prior Class B-2 Guaranty Payments 341,488.74
CLASS C CERTIFICATE
42. Class C Residual Payment 227,126.46
</TABLE>
Please contact the Bondholder Relations Department of First Trust National
Association at (612) 244-0444 with any questions regarding this Statement or any
Distribution.
<PAGE>
GT-HI
1995-C
August, 1995
Defaulted Contracts
<TABLE>
<CAPTION>
Estimated
Repurchase Loss at
Account# Principal Interest Amount Sale Date
-------- ---------- -------- ---------- ----------
<S> <C> <C> <C> <C>
15682830 15,620.35 90.33 15,710.68 16,736.15
---------- ------ ---------- ----------
TOTALS $15,620.35 $90.33 $15,710.68 $16,736.15
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</TABLE>
