<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): NOVEMBER 15, 1995
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
------------------------------------------------
PASS-THROUGH CERTIFICATE TRUST 1995-3
-------------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-55855 APPLIED FOR
- --------------------------------------------------------------------------------
(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
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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 November 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 November 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: November 15, 1995
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH
CERTIFICATE TRUST 1995-3
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
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INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
------ ----
99.1 Monthly Report delivered to Certificateholders 5
on November 15, 1995.
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 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 May 1, 1995 95-3 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 October 1, 1995 to October 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 10th day of
November, 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 6.25%, 6.45%, 6.65%,
7.05%, 7.30%, 7.65%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
October, 1995
CUSIP#'S 393505-GB2,GC0,GD8,GE6,GF3,GG1
TRUST ACCOUNT #3334163-0
REMITTANCE DATE: 11/15/95
Total $ Per $1,000
Amount Original
------- ---------
Class A Certificates
- --------------------
(1a) Amount available (including Monthly
Servicing Fee) $6,782,683.24
(b) Class M-1 Interest Deficiency Amount
(if any) and Class B-1 Interest
Deficiency Amount (if any) withdrawn
for prior Remittance Date 0.00
(c) Amount Available after giving effect to
withdrawal of Class M-1 Interest
Deficiency Amount and B-1 Interest
Deficiency Amount for prior Remittance
Date 0.00
A. Interest
(2) Aggregate Interest
a. Class A-1 Interest 260,369.14 4.13284349
b. Class A-2 Interest 467,625.00 5.37500000
c. Class A-3 Interest 288,166.67 5.54166673
d. Class A-4 Interest 381,875.00 5.87500000
e. Class A-5 Interest 431,916.67 6.08333338
f. Class A-6 Interest 470,156.25 6.37500000
(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 2,242,433.38 N/A
a. Scheduled Principal 784,738.95 N/A
b. Principal Prepayments 1,299,971.76 N/A
c. Liquidated Contracts 157,722.67 N/A
d. Repurchases .00 N/A
(6) Pool Scheduled Principal
Balance 486,934,841.19 969.62968569
(6a) Pool Factor .96962969
(7) Unpaid Class A Principal Shortfall
(if any)following prior Remittance
date .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 6.25%, 6.45%, 6.65%,
7.05%, 7.30%, 7.65%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
October, 1995
Page 2
CUSIP#'S 393505-GB2,GC0,GD8,GE6,GF3,GG1
TRUST ACCOUNT #3334163-0
REMITTANCE DATE: 11/15/95
(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
(a) the sum of the Class A Principal
Balance and the Class M-1 Principal
Balance divided by (b) the Pool
Scheduled Principal Balance) 90.75%
(9) Class A Percentage for the following
Remittance Date 90.71%
(10) Class A Principal Distribution:
a. Class A-1 2,242,433.38 35.59418063
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 .00 .00
(11) Class A-1 Principal Balance 47,748,441.19 757.91176492
(11a) Class A-1 Pool Factor .75791176
(12) Class A-2 Principal Balance 87,000,000.00 1000.0000000
(12a) Class A-2 Pool Factor 1.00000000
(13) Class A-3 Principal Balance 52,000,000.00 1000.0000000
(13a) Class A-3 Pool Factor 1.00000000
(14) Class A-4 Principal Balance 65,000,000.00 1000.0000000
(14a) Class A-4 Pool Factor 1.00000000
(15) Class A-5 Principal Balance 71,000,000.00 1000.0000000
(15a) Class A-5 Pool Factor 1.00000000
(16) Class A-6 Principal Balance 73,750,000.00 1000.0000000
(16a) Class A-6 Pool Factor 1.00000000
(17) Unpaid Class A Principal Shortfall
(if any) following current Remittance
Date .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 6.25%, 6.45%, 6.65%,
7.05%, 7.30%, 7.65%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
October, 1995
Page 3
CUSIP#'S 393505-GB2,GC0,GD8,GE6,GF3,GG1
TRUST ACCOUNT #3334163-0
REMITTANCE DATE: 11/15/95
C. Aggregate Scheduled Balances and Number of Delinquent
Contracts as of Determination Date
(18) 31-59 days 5,240,411.43 187
(19) 60 days or more 4,257,428.98 141
(20) Current Month Repossessions 659,263.88 29
(21) Repossession Inventory 1,726,128.71 64
Class B Principal Distribution Tests (test must be satisfied on and after the
Remittance Date occurring in June 1999)
(22) Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current
Remittance Date .87%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; may not exceed 3.5%) .63%
(23) Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current
Remittance Date 1.08%
(b) Average Thirty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; may not exceed 5.5%) 1.03%
(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 5.5% from June 1, 1999 to
May 31, 2000, 6.5% from June 1, 2000 to
May 31, 2001, 8.5% from June 1, 2001 to
May 31, 2002 and 9.5% thereafter) .02%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 6.25%, 6.45%, 6.65%,
7.05%, 7.30%, 7.65%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS A1, A2, A3, A4, A5, A6 CERTIFICATES
MONTHLY REPORT
October, 1995
Page 4
CUSIP#'S 393505-GB2,GC0,GD8,GE6,GF3,GG1
TRUST ACCOUNT #3334163-0
REMITTANCE DATE: 11/15/95
(25) Current Realized Losses Test
(a) Current Realized Losses for current
Remittance Date 48,207.45
(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 2.25%) 0.07%
(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
13.5%) and the Class B Principal Balance
as of such Remittance Date is greater than or
equal to $10,043,728.00 9.25%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.95%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS M1 CERTIFICATES
MONTHLY REPORT CUSIP#'S 393505-GH9
October, 1995 TRUST ACCOUNT #3334163-0
Page 5 REMITTANCE DATE: 11/15/95
Total $ Per $1,000
Amount Original
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CLASS M1 CERTIFICATES
- ---------------------
(27) Amount available (including Monthly
Servicing Fee) 2,240,141.14
A. Interest
(28) Aggregate interest
a. Class M-1 Remittance Rate (7.95%,
unless Weighted Average Contract
Rate is below 7.95%) 7.95%
b. Class M-1 Interest 299,450.00 6.62500000
(29) Amount applied to Class M-1 Interest
Deficiency Amount .00 0
(30) Remaining unpaid Class M-1 Interest
Deficiency Amount .00 0
(31) Amount Applied to:
a. Unpaid Class M-1 Interest Shortfall .00 0
(32) Remaining:
a. Unpaid Class M-1 Interest Shortfall .00 0
B. Principal
(33) 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
(34) Class M-1 Principal Balance 45,200,000.00 1000.00000000
(34a) Class M-1 Pool Factor 1.00000000
(35) Class M-1 Percentage after prior
Remittance Date .00%
(36) Class M-1 Percentage for such Remittance
Date .00%
(37) Class M-1 Percentage for the following
Remittance Date .00%
(38) Class M-1 Principal Distribution:
a. Class M-1 .00 0.00000000
b. Unpaid Class M-1 Principal Shortfall
(if any) following prior Remittance
Date .00
(39) Unpaid Class M-1 Principal Shortfall
(if any) following current Remittance
Date .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.85%, 8.10%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS B CERTIFICATES
MONTHLY REPORT
October, 1995
CUSIP#'S 393505-GJ5, GK2
REMITTANCE DATE: 11/15/95
Total $ Per $1,000
Amount Original
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Class B1 Certificates
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(1) Amount Available less the Class A
Distribution Amount and Class M-1
Distribution amount (including
Monthly Servicing Fee) 1,940,691.14
(2) Class B-1 Remittance Rate (7.85% unless
Weighted Average Contract Rate is
below 7.85%) 7.85%
(3) Aggregate Class B1 Interest 147,841.67 6.54166681
(4) Amount applied to Unpaid Class
B1 Interest Shortfall .00 .00
(5) Remaining unpaid Class B1
Interest Shortfall .00 .00
(6) Amount applied to Class B1 Interest
Deficiency Amount .00
(7) Remaining Unpaid Class B-1 Interest
Deficiency Amount .00
(8) Unpaid Class B1 Principal Shortfall
(if any) following prior Remittance Date .00
(9) 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
(9a) Class B Percentage for the following
Remittance Date .00
(10) Class B1 Principal (Class B Percentage of
Formula Principal Distribution Amount) .00
(11a) Class B1 Principal Shortfall .00
(11b) Unpaid Class B1 Principal Shortfall .00
(12) Class B Principal Balance 45,236,400.00
(13) Class B1 Principal Balance 22,600,000.00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.85%, 8.10%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS B CERTIFICATES
MONTHLY REPORT
October, 1995
Page 2
CUSIP#'S 393505-GJ5, GK2
REMITTANCE DATE: 11/15/95
Total $ Per $1,000
Amount Original
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Class B2 and C Certificates
- ---------------------------
(12) Remaining Amount Available 1,792,849.47
(13) Class B-2 Remittance Rate (8.10%
unless Weighted Average Contract
Rate is less than 8.10%) 8.10%
(14) Aggregate Class B2 Interest 152,795.70 6.75000000
(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 22,636,400.00
(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
Amount and Class B2 Distribution Amount;
if the Company is the Servicer) 203,823.86
(23) 3% Guarantee Fee 1,222,943.16
(24) Class C Residual Payment 213,286.75
(25) Class M-1 Interest Deficiency on such
Remittance Date .00
(26) Class B-1 Interest Deficiency on such
Remittance Date .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.85%, 8.10%
PASS-THROUGH CERTIFICATES, SERIES 1995-3
CLASS B CERTIFICATES
MONTHLY REPORT
October, 1995
Page 3
CUSIP#'S 393505-GJ5, GK2
REMITTANCE DATE: 11/15/95
Total $ Per $1,000
Amount Original
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(27) Repossessed Contracts 659,263.88
(28) Repossessed Contracts Remaining
in Inventory 1,726,128.71
(29) Weighted Average Contract Rate 11.60455
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GTFC
1995-3
October, 1995
Defaulted Contracts
Estimated
Repurchase Loss at
Account# Principal Interest Amount Sale Date
- -------- ----------- -------- ----------- ----------
16317154 21,695.77 133.42 21,829.19 5,622.52
28320165 39,948.75 245.68 40,194.43 13,450.65
53315346 22,786.40 140.13 22,926.53 2,130.02
74318277 38,252.55 235.25 38,487.80 12,612.24
76315550 18,593.89 114.35 18,708.24 5,974.47
90320640 9,647.63 59.33 9,706.96 7,720.91
90320786 6,797.68 41.80 6,839.48 676.01
----------- ------- ----------- ----------
TOTALS $157,722.67 $969.96 $158,692.63 $48,186.82
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