<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): DECEMBER 15, 1995
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
------------------------------------------------
PASS-THROUGH CERTIFICATE TRUST 1995-1
-------------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-53881 41-1803128
- -------------------------------------------------------------------------------
(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
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 293-3400
---------------------
NOT APPLICABLE
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
1
<PAGE>
ITEM 5. OTHER EVENTS.
------------
Pursuant to the Pooling and Servicing Agreement between Green
Tree Financial Corporation (the "Servicer") and First Bank
National Association (the "Trustee"), on December 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
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on December 15,
1995.
2
<PAGE>
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: December 15, 1995
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH
CERTIFICATE TRUST 1995-1
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
EXHIBIT
NUMBER PAGE
------ ----
99.1 Monthly Report delivered to Certificateholders 5
on December 15, 1995.
4
<PAGE>
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 she 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 February 1, 1995 95-1 between
the Company and First Bank National Association, as Trustee (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 November 1, 1995 to November 30,
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
December, 1995.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
-----------------------------
Phyllis A. Knight
Assistant Vice President and
Assistant Controller
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.25%, 7.80%, 7.95%,
8.20%, 8.40%, 8.70%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
November, 1995
CUSIP#'S 393505-FB3,FC1,FD9,FE7,FF4,FG2
TRUST ACCOUNT #3334018-0
REMITTANCE DATE: 12/15/95
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
-------------- -----------
<S> <C> <C>
Class A Certificates
(1) Amount available (including Monthly
Servicing Fee) $6,913,067.50
A. Interest
(2) Aggregate Interest
a. Class A-1 Interest 146,778.34 3.12294340
b. Class A-2 Interest 397,800.00 6.50000000
c. Class A-3 Interest 265,000.00 6.62500000
d. Class A-4 Interest 328,000.00 6.83333333
e. Class A-5 Remittance Rate
(8.40%, unless Weighted Average
Contract Rate is below 8.40%) 8.40%
f. Class A-5 Interest 357,000.00 7.00000000
g. Class A-6 Remittance Rate
(8.70%, unless Weighted Average
Contract Rate is below 8.70%) 8.70%
h. Class A-6 Interest 429,113.00 7.25000000
(3) Amount applied to:
a. Unpaid Class A Interest
Shortfall .00 .00
(4) Remaining:
a. Unpaid Class A Interest
Shortfall .00 .00
B. Principal
(5) Formula Principal Distribution
Amount 3,616,577.71 N/A
a. Scheduled Principal 593,892.41 N/A
b. Principal Prepayments 2,609,100.83 N/A
c. Liquidated Contracts 413,584.47 N/A
d. Repurchases .00 N/A
(6) Pool Scheduled Principal
Balance 352,017,590.28 930.42701247
(6a) Pool Factor .93042701
(7) Unpaid Class A Principal Shortfall
(if any) following prior Remittance
date .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.25%, 7.80%, 7.95%,
8.20%, 8.40%, 8.70%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
November, 1995
Page 2
CUSIP#'S 393505-FB3,FC1,FD9,FE7,FF4,FG2
TRUST ACCOUNT #3334018-0
REMITTANCE DATE: 12/15/95
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
------------ ------------
<S> <C> <C>
(8) Class A Percentage for such Remittance
Date (Until Class B Cross-Over Date,
and on each Remittance Date thereafter
unless each Class B Principal
Distribution Test is satisfied, equals
Class A Principal Balance divided by
pool Scheduled Principal Balance) 89.35%
(9) Class A Percentage for the following
Remittance Date 89.24%
(10) Class A Principal Distribution:
a. Class A-1 3,616,577.71 76.94846191
b. Class A-2 .00 .00
c. Class A-3 .00 .00
d. Class A-4 .00 .00
e. Class A-5 .00 .00
f. Class A-6
(11) Class A-1 Principal Balance 20,677,768.28 439.95251660
(11a) Class A-1 Pool Factor .43995252
(12) Class A-2 Principal Balance 61,200,000.00 1000.0000000
(12a) Class A-2 Pool Factor 1.00000000
(13) Class A-3 Principal Balance 40,000,000.00 1000.0000000
(13a) Class A-3 Pool Factor 1.00000000
(14) Class A-4 Principal Balance 48,000,000.00 1000.0000000
(14a) Class A-4 Pool Factor 1.00000000
(15) Class A-5 Principal Balance 51,000,000.00 1000.0000000
(15a) Class A-5 Pool Factor 1.00000000
(16) Class A-6 Principal Balance 59,188,000.00 1000.0000000
(16a) Class A-6 Pool Factor 1.00000000
(17) Unpaid Class A Principal Shortfall
(if any) following current Remittance
Date .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.25%, 7.80%, 7.95%,
8.20%, 8.40%, 8.70%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
November, 1995
Page 3
CUSIP#'S 393505-FB3,FC1,FD9,FE7,FF4,FG2
TRUST ACCOUNT #3334018-0
REMITTANCE DATE: 12/15/95
<TABLE>
<CAPTION>
<S> <C> <C>
Total $ Per $1,000
Amount Original
-------------- -------------
C. Aggregate Scheduled Balances and Number of
Delinquent Contracts as of Determination Date
(18) 31-59 days 4,874,283.85 160
(19) 60 days or more 5,607,790.38 173
(20) Current Month Repossessions 843,021.12 35
(21) Repossession Inventory 2,403,846.28 91
Class B Principal Distribution Tests (test must be satisfied on and after the
Remittance Date occurring in March 2000)
(22) Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current
Remittance Date 1.58%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; may not exceed 4%) 1.37%
(23) Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current
Remittance Date 1.37%
(b) Average Thirty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; may not exceed 6%) 1.33%
(24) Cumulative Realized Losses Test
(a) Cumulative Realized Losses for the current Remittance
Date (as a percentage of Cut-off Date Pool Principal
Balance; may not exceed 7% from March 1, 2000 to
February 29, 2000, 9% from March 1, 2001 to
February 29, 2001 and 10% thereafter) .06%
(25) Current Realized Losses Test
(a) Current Realized Losses for current Remittance
Date 84,865.41
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.25%, 7.80%, 7.95%,
8.20%, 8.40%, 8.70%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
November, 1995
Page 4
CUSIP#'S 393505-FB3,FC1,FD9,FE7,FF4,FG2
TRUST ACCOUNT #3334018-0
REMITTANCE DATE: 12/15/95
(b) Current Realized Loss Ratio (total Realized Losses for the most recent
three months, multiplied by 4, divided by arithmetic average of Pool
Scheduled Principal Balances for third preceding Remittance and for
current Remittance Date; may not exceed 2.50%) .21%
(26) Class B Principal Balance Test
(a) Class B Principal Balance (before any distributions
on current Remittance Date) divided by pool Scheduled
Principal Balance for prior Remittance date (must
equal or exceed 17.5%) and the Class B Principal Balance
as of such Remittance Date is greater than or equal
to $7,566,796.00 10.54%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 9.05%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS M-1 CERTIFICATES
MONTHLY REPORT
November, 1995
Page 5
CUSIP#'S 393505-FH0
TRUST ACCOUNT #3334018-0
REMITTANCE DATE: 12/15/95
Total $ Per $1,000
Amount Original
-------------- -----------
CLASS M1 CERTIFICATES
(27) Amount available (including Monthly
Servicing Fee) 1,372,798.45
A. Interest
(28) Aggregate interest
(a) Class M-1 Remittance Rate
(9.05%, unless Weighted Average
Contract Rate is below 9.05%) 9.05%
(b) Class M-1 Interest 257,035.08 7.54166657
(29) Amount applied to:
a. Unpaid Class M-1 Interest Shortfall .00 0
(30) Remaining:
a. Unpaid Class M-1 Interest Shortfall .00 0
B. Principal
(31) Formula Principal Distribution Amount
a. Scheduled Principal .00 N/A
b. Principal Prepayments .00 N/A
c. Liquidated Contracts .00 N/A
d. Repurchases .00 N/A
(32) Class M-1 Principal Balance 34,082,000.00 1000.00000000
(32a) Class M-1 Pool Factor 1.00000000
(33) Class M-1 Percentage after prior
Remittance Date .00
(34) Class M-1 Percentage for such Remittance
Dated .00
(35) Class M-1 Percentage for the following
Remittance Date .00
(36) Class M-1 Principal Distribution:
a. Class M-1 .00 0.00000000
(37) Unpaid Class M-1 Principal Shortfall
(if any) following prior Remittance Date .00
(38) Unpaid Class M-1 Principal Shortfall
(if any) following current Remittance Date .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 9.00%, 9.20%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS B CERTIFICATES
MONTHLY REPORT
November, 1995
CUSIP#'S 393505-FJ6, FK3
REMITTANCE DATE: 12/15/95
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
------------- ------------
<S> <C> <C>
Class B1 Certificates
(1) Amount Available less the Class A
Distribution Amount and Class M-1
Distribution amount (including
Monthly Servicing Fee) 1,115,763.37
(2) Class B-1 Remittance Rate (9.00% unless
Weighted Average Contract Rate is
below 9.00%) 9.00%
(3) Aggregate Class B1 Interest 113,610.00 7.50000000
(4) Amount applied to Unpaid Class
BI Interest Shortfall .00 .00
(5) Remaining unpaid Class B1
Interest Shortfall .00 .00
(6) Unpaid Class B1 Principal Shortfall
(if any) following prior Remittance Date .00
(7) Class B Percentage for such Remittance Date
(until Class B Cross-over Date, and on each
Remittance Date thereafter unless each Class
B Principal Distribution Test is satisfied,
equals zero. Thereafter, if each Class B
Principal Distribution Test is satisfied,
equals 100% minus Class A Percentage) .00
(7a) Class B Percentage for the following
Remittance Date .00
(8) Class B1 Principal (Class B Percentage of
Formula Principal Distribution Amount) .00
(9a) Class B1 Principal Shortfall .00
(9b) Unpaid Class B1 Principal Shortfall .00
(10) Class B Principal Balance 37,869,822.00
(11) Class B1 Principal Balance 15,148,000.00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 9.00%, 9.20%
PASS-THROUGH CERTIFICATES, SERIES 1995-1
CLASS B CERTIFICATES
MONTHLY REPORT
November, 1995
Page 2
CUSIP#'S 393505-FJ6, FK3
REMITTANCE DATE: 12/15/95
<TABLE>
<CAPTION>
Total $ Per $1,000
Amount Original
------------- -------------
<S> <C> <C>
Class B2 and C Certificates
- ---------------------------
(12) Remaining Amount Available 1,002,153.37
(13) Class B-2 Remittance Rate (9.20%
unless Weighted Average Contract
Rate is less than 9.20%) 9.20%
(14) Aggregate Class B2 Interest 174,200.64 7.66666687
(15) Amount applied to Unpaid Class
B2 Interest Shortfall .00 .00
(16) Remaining Unpaid Class B2
Interest Shortfall .00 .00
(17) Unpaid Class B2 Principal Shortfall
(if any) following prior Remittance Date .00
(18) Class B2 Principal Liquidation Loss Amount .00
(19) Class B2 Principal (zero until Class B1
paid down; thereafter, Class B Percentage
of Formula Principal Distribution Amount) .00
(20) Guarantee Payment .00
(21) Class B2 Principal Balance 22,721,822.00
(22) Monthly Servicing Fee (Deducted from
Certificate Account balance to arrive
at Amount Available if the Company is
not the Servicer; deducted from funds
remaining after payment of Class A
Distribution Amount, Class M-1 Distribution
and Class B1 and B2 Distribution Amount;
if the Company is the Servicer) 148,180.90
(23) 3% Guarantee Fee 679,771.83
(24) Class C Residual Payment 0.00
(25) Repossessed Contracts 843,021.12
(26) Repossessed Contracts Remaining
in Inventory 2,403,846.28
(27) Weighted Average Contract Rate 11.85176
</TABLE>
<PAGE>
GTFC
1995-1
November, 1995
Defaulted Contracts
<TABLE>
<CAPTION>
Estimated
Repurchase Loss at
Account# Principal Interest Amount Sale Date
- ------------ ----------- --------- ----------- ----------
<S> <C> <C> <C> <C>
18314749 6,822.58 48.49 6,871.07 2,312.66
24309815 29,117.61 206.97 29,324.58 862.37
34307366 31,336.39 222.74 31,559.13 4,840.43
35313265 7,915.68 56.26 7,971.94 1,392.64
52308770 10,054.78 71.47 10,126.25 5,369.18
52308771 20,864.86 148.31 21,013.17 5,634.29
57313800 24,809.35 176.35 24,985.70 1,891.44
57413697 44,548.06 316.66 44,864.72 7,136.90
74317476 41,846.68 297.46 42,144.14 13,737.05
74317518 17,099.06 121.54 17,220.60 5,876.24
75323255 8,046.18 57.19 8,103.37 5,004.25
77322160 30,299.61 215.37 30,514.98 5,109.66
78300271 28,799.58 204.71 29,004.29 7,976.21
85315179 32,800.64 233.15 33,033.79 11,150.69
85315296 44,570.52 316.82 44,887.34 217.00
92301516 12,171.53 86.51 12,258.04 6,721.89
95323206 22,481.36 159.80 22,641.16 .00
----------- --------- ----------- ----------
TOTALS: $413,584.47 $2,939.80 $416,524.27 $85,232.90
=========== ========= =========== ==========
</TABLE>
