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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): June 15, 1995
FHA TITLE I HOME IMPROVEMENT LOAN TRUST 1995-A
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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 June 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 June 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: June 15, 1995
FHA TITLE I HOME IMPROVEMENT LOAN
TRUST 1995-A
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/Phyllis A. Knight
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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 June 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 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 March 1, 1995 between the
Company and First Trust (N.A), as Trustee of FHA Title I Home Improvement Loan
Trust 1995-A (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 May 1, 1995 to May 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 June,
1995.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
-----------------------------
Phyllis A. Knight
Assistant Vice President and
Assistant Controller
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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 March 1, 1995 between the
Company and First Trust National Association, as Trustee of FHA Title I Home
Improvement Loan Trust 1995-A (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 June,
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-A
MONTHLY REPORT
May 1995
Distribution Date: 6/15/95
CUSIP#: 393505 FM9,FN7,FP2,FQ0,FR8
Trust Account: 3334060-0
<TABLE>
<S> <C> <C> <C>
1. Collected Amount $2,358,745.05
2. Delinquent Payments Advanced/Recovered 5,825.48
3. Aggregate Repurchase Price for Contracts
to be Repurchased .00
4. Amount Available (1+2+3) 2,364,570.53
Interest
5. Class A-1 Interest (7.00%)
(a) Current Interest $161,450.36
(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 (7.45%)
(a) Current Interest $124,787.50
(b) Amount applied to Unpaid Class
A-2 Interest Shortfall .00
(c) Remaining Unpaid Class A-2 Interest Shortfall .00
7. Class M-1 Interest (7.95%)
(a) Current Interest $113,552.50
(b) Amount applied to Unpaid Class
M-1 Interest Shortfall .00
(c) Remaining Unpaid Class M-1 Interest Shortfall .00
8. Class M-2 Interest (8.25%)
(a) Current Interest $57,406.25
(b) Amount applied to Unpaid Class
M-2 Interest Shortfall .00
(c) Remaining Unpaid Class M-2 Interest Shortfall .00
9. Class B Interest (8.45%)
(a) Current Interest $86,651.32
(b) Amount applied to Unpaid Class
B Interest Shortfall .00
(c) Remaining Unpaid Class B Interest Shortfall .00
10. Monthly Principal
(1) Regular Principal Payments $288,819.68
(2) Principal Prepayments 1,160,523.75
(3) Delinquent Principal Advanced 24,221.17
(4) Net Losses 13,554.20
(5) Contracts Repurchased due to Breach
of Representations and Warranties
(See attached) .00
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-A
MONTHLY REPORT
May 1995
Page 2
Distribution Date: 6/15/95
CUSIP#: 393505 FM9,FN7,FP2,FQ0,FR8
Trust Account: 3334060-0
<TABLE>
<S> <C> <C> <C>
(6) Bankruptcy Write-Down .00
(7) Unpaid Principal from Prior Months .00
(8) Delinquent Payments Recovered (21,426.14)
Total Principal 1,465,692.66
11. Senior Percentage for such Payment Date 100%
12. Senior Percentage for following Payment Date 100%
13. Class A-1 Principal Distribution 1,465,692.66
(a) Class A-1 Principal Balance 26,211,512.03
14. Class A-2 Principal Distribution .00
(a) Class A-2 Principal Balance 20,100,000.00
15. Class M-1 Principal Distribution .00
(a) Class M-1 Principal Balance 17,140,000.00
16. Class M-2 Principal Distribution .00
(a) Class M-2 Principal Balance 8,350,000.00
Class B Principal Distribution Tests
17. Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for Current
Payment Date .12%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two
preceding months; may not exceed 2.5%) .08%
18. Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for Current
Payment Date .12%
(b) Average Thirty-Day Delinquency Ratio
(arithmetic average of ratios for this month
and two preceding months; may not exceed 5.0%) .19%
19. 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
April 1, 1998 to March 31, 2001, 11.0% from April 1,
2001 to March 31, 2002 and 12.0% thereafter) .00%
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-A
MONTHLY REPORT
May 1995
Page 3
Distribution Date: 6/15/95
CUSIP#: 393505 FM9,FN7,FP2,FQ0,FR8
Trust Account: 3334060-0
<TABLE>
<S> <C>
20. Current Realized Losses Test
(a) Current Realized Losses for Current
Payment Date 14,068.83
(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%) .02%
21. 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%) 14.38%
22. Class B Principal Distribution .00
23. Class B Distribution (9+22) 86,651.32
24. Class B Formula Distribution Amount 86,651.32
25. Aggregate Certificate Principal Balance 84,107,025.03
26. Pool Scheduled Principal Balance 84,107,025.03
27. Class B Principal Deficiency Amount (25-26) .00
28. Class B Guaranty Payment (lesser of (a) (24-27)
- 23 or (b) Guaranty Amount from prior month) .00
29. Class B Principal Balance 12,305,513.00
30. Guaranty Amount (less of (a) $5,932,948.00 - Class
B Guaranty Payment or (b) Class B Principal Balance) 5,932,948.00
31. Pool Factor
Previous Month Pool Factor .97357322
Current Month Pool Factor .95689782
32. Aggregate Scheduled Balances of Delinquent
Contracts as of Determination Date
(a) 31-59 days 409,557.40 29
(b) 60-89 days 63,539.22 6
(c) 90 or more days 38,918.25 3
</TABLE>
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HOME IMPROVEMENT LOAN
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1995-A
MONTHLY REPORT
May 1995
Page 4
Distribution Date: 6/15/95
CUSIP#: 393505 FM9,FN7,FP2,FQ0,FR8
Trust Account: 3334060-0
<TABLE>
<S> <C>
33. Liquidated Contracts $ 13,643.88
34. Number of Loans Remaining 6,361
35. Number and Principal Balance of Contracts
with FHA Claims finally rejected, or no FHA
claim was submitted because FHA Insurance
was unavailable 1 13,554.20
36. Monthly Servicing Fee (.75%) 53,482.95
37. Guaranty Fee (3% cap) and reimbursement to
Company for prior Class B Guaranty Payments 213,931.79
Class C Certificate
38. Class C Residual Payment 87,615.20
</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.
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GTHI
1995-A
May, 1995
Defaulted Contracts
<TABLE>
<CAPTION>
Estimated
Repurchase Loss at
Account# Principal Interest Amount Sale Date
- ------------ ---------- -------- ---------- ----------
<S> <C> <C> <C> <C>
15670508 13,554.20 89.68 13,643.88 14,068.83
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TOTALS $13,554.20 $89.68 $13,643.88 $14,068.83
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</TABLE>
