<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
GREEN TREE FINANCIAL CORPORATION
--------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 0-11652 41-1263905
- ------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number identification No.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
- ------------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 293-3400
--------------------------
Not Applicable
- -----------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
--------------------------------
Not applicable.
Item 2. Acquisition or Disposition of Assets.
------------------------------------
Not applicable.
Item 3. Bankruptcy or Receivership.
-------------------------
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
----------------------------------------------
Not applicable.
Item 5. Other Events.
------------
Not applicable.
Item 6. Resignations of Registrant's Directors.
--------------------------------------
Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
<PAGE>
(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99 External Computational and Descriptive Information
distributed in connection with Certificates for
Home Improvement Loans, Series 1995-F, issued by
Green Tree Financial Corporation, as Seller and
Servicer.
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.
GREEN TREE FINANCIAL CORPORATION
By: /s/ John W. Brink
----------------------------------
John W. Brink
Vice President and Chief Financial
Officer
3
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
99 External Computational and Descriptive Information 5
distributed in connection with Certificates for Home
Improvement Loans, Series 1995-F, issued by Green
Tree Financial Corporation, as Seller and Servicer.
4
<PAGE>
EXHIBIT 99
<TABLE>
<CAPTION>
GREEN TREE HOME IMPROVEMENT-1995-F
* 15.000% CPR * * 15.000% CPR * * 15.000% CPR * * 15.000% CPR * * 15.000% CPR *
========= ===== ========= ===== ========= ===== ========= ===== ========= =====
Price CBE Yield Dur CBE Yield Dur CBE Yield Dur CBE Yield Dur CBE Yield Dur Price
- -------- --------- ----- --------- ----- --------- ----- --------- ----- --------- ----- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.7344 6.128056% 1.77 6.128056% 1.77 6.128056% 1.77 6.128056% 1.77 6.128056% 1.77 99.7344
99.75 6.118924% 6.118924% 6.118924% 6.118924% 6.118924% 99.75
99.7656 6.109793% 6.109793% 6.109793% 6.109793% 6.109793% 99.7656
99.7813 6.100665% 6.100665% 6.100665% 6.100665% 6.100665% 99.7813
99.7969 6.091539% 6.091539% 6.091539% 6.091539% 6.091539% 99.7969
99.8125 6.082415% 1.77 6.082415% 1.77 6.082415% 1.77 6.082415% 1.77 6.082415% 1.77 99.8125
99.8281 6.073292% 6.073292% 6.073292% 6.073292% 6.073292% 99.8281
99.8438 6.064172% 6.064172% 6.064172% 6.064172% 6.064172% 99.8438
99.8594 6.055054% 6.055054% 6.055054% 6.055054% 6.055054% 99.8594
99.875 6.045938% 6.045938% 6.045938% 6.045938% 6.045938% 99.875
99.8906 6.036823% 1.77 6.036823% 1.77 6.036823% 1.77 6.036823% 1.77 6.036823% 1.77 99.8906
99.9063 6.027711% 6.027711% 6.027711% 6.027711% 6.027711% 99.9063
99.9219 6.018601% 6.018601% 6.018601% 6.018601% 6.018601% 99.9219
99.9375 6.009492% 6.009492% 6.009492% 6.009492% 6.009492% 99.9375
99.9531 6.000386% 6.000386% 6.000386% 6.000386% 6.000386% 99.9531
99.9688 5.991282% 1.77 5.991282% 1.77 5.991282% 1.77 5.991282% 1.77 5.991282% 1.77 99.9688
99.9688 5.991282% 5.991282% 5.991282% 5.991282% 5.991282% 99.9688
99.9844 5.982179% 5.982179% 5.982179% 5.982179% 5.982179% 99.9844
100 5.973079% 5.973079% 5.973079% 5.973079% 5.973079% 100
100.016 5.963980% 5.963980% 5.963980% 5.963980% 5.963980% 100.016
100.031 5.954884% 1.77 5.954884% 1.77 5.954884% 1.77 5.954884% 1.77 5.954884% 1.77 100.031
100.047 5.945790% 5.945790% 5.945790% 5.945790% 5.945790% 100.047
100.063 5.936697% 5.936697% 5.936697% 5.936697% 5.936697% 100.063
100.078 5.927607% 5.927607% 5.927607% 5.927607% 5.927607% 100.078
100.094 5.918518% 5.918518% 5.918518% 5.918518% 5.918518% 100.094
100.109 5.909431% 1.77 5.909431% 1.77 5.909431% 1.77 5.909431% 1.77 5.909431% 1.77 100.109
100.125 5.900347% 5.900347% 5.900347% 5.900347% 5.900347% 100.125
100.141 5.891264% 5.891264% 5.891264% 5.891264% 5.891264% 100.141
100.156 5.882184% 5.882184% 5.882184% 5.882184% 5.882184% 100.156
100.172 5.873105% 5.873105% 5.873105% 5.873105% 5.873105% 100.172
100.188 5.864028% 1.77 5.864028% 1.77 5.864028% 1.77 5.864028% 1.77 5.864028% 1.77 100.188
100.203 5.854954% 5.854954% 5.854954% 5.854954% 5.854954% 100.203
100.219 5.845881% 5.845881% 5.845881% 5.845881% 5.845881% 100.219
100.234 5.836810% 5.836810% 5.836810% 5.836810% 5.836810% 100.234
100.25 5.827741% 5.827741% 5.827741% 5.827741% 5.827741% 100.25
First Amort: 0.99 0.99 0.99 0.99 0.99
Average Life: 1.87 1.87 1.87 1.87 1.87
Maturity: 2.82 2.82 2.82 2.82 2.82
</TABLE>
<TABLE>
<CAPTION>
GREEN TREE HOME IMPROVEMENT-1995-F
* 15.000% CPR * * 15.000% CPR * * 15.000% CPR * * 15.000% CPR *
========= ===== ========= ===== ========= ===== ========= =====
Price CBE Yield Dur CBE Yield Dur CBE Yield Dur CBE Yield Dur Price
- -------- --------- ----- --------- ----- --------- ----- --------- ----- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
99.7344 6.128056% 1.77 6.128056% 1.77 6.128056% 1.77 6.128056% 1.77 99.7344
99.75 6.118924% 6.118924% 6.118924% 6.118924% 99.75
99.7656 6.109793% 6.109793% 6.109793% 6.109793% 99.7656
99.7813 6.100665% 6.100665% 6.100665% 6.100665% 99.7813
99.7969 6.091539% 6.091539% 6.091539% 6.091539% 99.7969
99.8125 6.082415% 1.77 6.082415% 1.77 6.082415% 1.77 6.082415% 1.77 99.8125
99.8281 6.073292% 6.073292% 6.073292% 6.073292% 99.8281
99.8438 6.064172% 6.064172% 6.064172% 6.064172% 99.8438
99.8594 6.055054% 6.055054% 6.055054% 6.055054% 99.8594
99.875 6.045938% 6.045938% 6.045938% 6.045938% 99.875
99.8906 6.036823% 1.77 6.036823% 1.77 6.036823% 1.77 6.036823% 1.77 99.8906
99.9063 6.027711% 6.027711% 6.027711% 6.027711% 99.9063
99.9219 6.018601% 6.018601% 6.018601% 6.018601% 99.9219
99.9375 6.009492% 6.009492% 6.009492% 6.009492% 99.9375
99.9531 6.000386% 6.000386% 6.000386% 6.000386% 99.9531
99.9688 5.991282% 1.77 5.991282% 1.77 5.991282% 1.77 5.991282% 1.77 99.9688
99.9688 5.991282% 5.991282% 5.991282% 5.991282% 99.9688
99.9844 5.982179% 5.982179% 5.982179% 5.982179% 99.9844
100 5.973079% 5.973079% 5.973079% 5.973079% 100
100.016 5.963980% 5.963980% 5.963980% 5.963980% 100.016
100.031 5.954884% 1.77 5.954884% 1.77 5.954884% 1.77 5.954884% 1.77 100.031
100.047 5.945790% 5.945790% 5.945790% 5.945790% 100.047
100.063 5.936697% 5.936697% 5.936697% 5.936697% 100.063
100.078 5.927607% 5.927607% 5.927607% 5.927607% 100.078
100.094 5.918518% 5.918518% 5.918518% 5.918518% 100.094
100.109 5.909431% 1.77 5.909431% 1.77 5.909431% 1.77 5.909431% 1.77 100.109
100.125 5.900347% 5.900347% 5.900347% 5.900347% 100.125
100.141 5.891264% 5.891264% 5.891264% 5.891264% 100.141
100.156 5.882184% 5.882184% 5.882184% 5.882184% 100.156
100.172 5.873105% 5.873105% 5.873105% 5.873105% 100.172
100.188 5.864028% 1.77 5.864028% 1.77 5.864028% 1.77 5.864028% 1.77 100.188
100.203 5.854954% 5.854954% 5.854954% 5.854954% 100.203
100.219 5.845881% 5.845881% 5.845881% 5.845881% 100.219
100.234 5.836810% 5.836810% 5.836810% 5.836810% 100.234
100.25 5.827741% 5.827741% 5.827741% 5.827741% 100.25
0.99 0.99 0.99 0.99
1.87 1.87 1.87 1.87
2.82 2.82 2.82 2.82
</TABLE>
Notes: All yields and durations are based on MONTHLY payments of interest with
an interest free delay of 00 days.
Duration, First Amortization, Average Life, and Maturity are stated in years
reflecting a 12/19/95 settlement date.
Page 1
<PAGE>
<TABLE>
<CAPTION>
GREEN TREE HOME IMPROVEMENT - 1995-F
Bond Class Totals
-----------------
Payment Balance Balance Principal Interest Total
Date In Dollars In Percent Payments Payments Payments
- --------- ----------------- ---------- -------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
1/15/96 $32,000,000.00 100 $0.00 $136,355.56 $136,355.56
2/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
3/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
4/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
5/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
6/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
7/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
8/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
9/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
10/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
11/15/96 $32,000,000.00 100 $0.00 $157,333.33 $157,333.33
12/15/96 $32,000,000.00 100 $220,949.82 $157,333.33 $378,283.15
1/15/97 $31,779,050.18 99.31 $1,710,240.12 $156,247.00 $1,866,487.11
2/15/97 $30,068,810.07 93.97 $1,686,415.64 $147,838.32 $1,834,253.96
3/15/97 $28,382,394.43 88.69 $1,662,914.64 $139,546.77 $1,802,461.41
4/15/97 $26,719,479.79 83.5 $1,639,732.76 $131,370.78 $1,771,103.54
5/15/97 $25,079,747.03 78.37 $1,616,865.69 $123,308.76 $1,740,174.45
6/15/97 $23,462,881.34 73.32 $1,594,309.19 $115,359.17 $1,709,668.36
7/15/97 $21,868,572.15 68.34 $1,572,059.07 $107,520.48 $1,679,579.55
8/15/97 $20,296,513.08 63.43 $1,550,111.19 $99,791.19 $1,649,902.38
9/15/97 $18,746,401.89 58.58 $1,528,461.48 $92,169.81 $1,620,631.29
10/15/97 $17,217,940.40 53.81 $1,507,105.93 $84,654.87 $1,591,760.80
11/15/97 $15,710,834.48 49.1 $1,486,040.55 $77,244.94 $1,563,285.49
12/15/97 $14,224,793.93 44.45 $1,465,261.44 $69,938.57 $1,535,200.01
1/15/98 $12,759,532.49 39.87 $1,444,764.73 $62,734.37 $1,507,499.10
2/15/98 $11,314,767.76 35.36 $1,424,546.62 $55,630.94 $1,480,177.57
3/15/98 $9,890,221.13 30.91 $1,404,603.35 $48,626.92 $1,453,230.27
4/15/98 $8,485,617.78 26.52 $1,384,931.21 $41,720.95 $1,426,652.16
5/15/98 $7,100,686.57 22.19 $1,365,526.54 $34,911.71 $1,400,438.25
6/15/98 $5,735,160.03 17.92 $1,346,385.74 $28,197.87 $1,374,583.61
7/15/98 $4,388,774.29 13.71 $1,327,505.23 $21,578.14 $1,349,083.37
8/15/98 $3,061,269.06 9.57 $1,308,881.52 $15,051.24 $1,323,932.76
9/15/98 $1,752,387.53 5.48 $1,290,511.14 $8,615.91 $1,299,127.05
10/15/98 $461,876.39 1.44 $461,876.39 $2,270.89 $464,147.28
-------------- ------------- --------------
Totals $32,000,000.00 $3,531,351.81 $35,531,351.81
============== ============= ==============
</TABLE>
<TABLE>
<CAPTION>
Bond Class Totals Per Thousand
--------------------------------
Payment Balance Principal Interest Total Interest Rate
Date In Dollars Payments Payments Payments In Effect
- -------- ---------- --------- -------- ---------- -------------
<S> <C> <C> <C> <C> <C>
1/15/96 $1,000.00 $0.00 $4.26 $4.26 5.90%
2/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
3/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
4/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
5/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
6/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
7/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
8/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
9/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
10/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
11/15/96 $1,000.00 $0.00 $4.92 $4.92 5.90%
12/15/96 $1,000.00 $6.90 $4.92 $11.82 5.90%
1/15/97 $993.10 $53.45 $4.88 $58.33 5.90%
2/15/97 $939.65 $52.70 $4.62 $57.32 5.90%
3/15/97 $886.95 $51.97 $4.36 $56.33 5.90%
4/15/97 $834.98 $51.24 $4.11 $55.35 5.90%
5/15/97 $783.74 $50.53 $3.85 $54.38 5.90%
6/15/97 $733.22 $49.82 $3.60 $53.43 5.90%
7/15/97 $683.39 $49.13 $3.36 $52.49 5.90%
8/15/97 $634.27 $48.44 $3.12 $51.56 5.90%
9/15/97 $585.83 $47.76 $2.88 $50.64 5.90%
10/15/97 $538.06 $47.10 $2.65 $49.74 5.90%
11/15/97 $490.96 $46.44 $2.41 $48.85 5.90%
12/15/97 $444.52 $45.79 $2.19 $47.98 5.90%
1/15/98 $398.74 $45.15 $1.96 $47.11 5.90%
2/15/98 $353.59 $44.52 $1.74 $46.26 5.90%
3/15/98 $309.07 $43.89 $1.52 $45.41 5.90%
4/15/98 $265.18 $43.28 $1.30 $44.58 5.90%
5/15/98 $221.90 $42.67 $1.09 $43.76 5.90%
6/15/98 $179.22 $42.07 $0.88 $42.96 5.90%
7/15/98 $137.15 $41.48 $0.67 $42.16 5.90%
8/15/98 $95.66 $40.90 $0.47 $41.37 5.90%
9/15/98 $54.76 $40.33 $0.27 $40.60 5.90%
10/15/98 $14.43 $14.43 $0.07 $14.50 5.90%
--------- ------- ---------
Totals $1,000.00 $110.35 $1,110.35
========= ======= =========
</TABLE>
Page 1
<PAGE>
ASSET BACKED SECURITIES EXTERNAL MARKETING SUMMARY
GREEN TREE FINANCIAL CORPORATION (SELLER AND SERVICER)
$132,722,512(APPROXIMATE)
CERTIFICATES FOR HOME IMPROVEMENT LOANS
SERIES 1995-F
<TABLE>
<CAPTION>
SECURITIES OFFERED:
Expected Principal Expected
Size % of Credit Benchmark WAL/DUR(1)@ Payment Ratings
Class ($MM) Series Priority Index 15% CPR Window (mos.) (Moody's/S&P)
- ----------------------------------------------------------------------------------------------------------------------------------
TO 10% CALL
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $22.000 16.6% Senior 6 Month 0.52/0.49 1 - 12 (12) Aaa / AAA
A-2 32.000 24.1% Senior Curve 1.87/1.72 12 - 34 (23) Aaa / AAA
A-3 15.000 11.3% Senior 3 Year 3.33/2.94 34 - 47 (14) Aaa / AAA
A-4 23.800 17.9% Senior 5 Year 5.42/4.46 47 - 86 (40) Aaa / AAA
M-1 13.300 10.0% Mezz 10 Year 8.64/6.35 86 - 125 (40) Aa2 / AA
M-2 10.600 8.0% Mezz 10 Year 10.57/7.24 125 - 127 (3) A2 / A
B-1 8.000 6.0% Sub 5 Year 5.19/4.22 45 - 84 (40) Baa2 / BBB
B-2 8.023 6.0% Sub 10 Year 9.38/6.58 84 - 127 (44) Baa1 / A-
- ----------------------------------------------------------------------------------------------------------------------------------
TO MATURITY
- ----------------------------------------------------------------------------------------------------------------------------------
M-2 $10.600 8.0% Mezz 10 Year 12.68/8.11 125 - 191 (67) A2 / A
B-2 8.023 6.0% Sub 10 Year 10.27/6.94 84 - 191 (108) Baa1 / A-
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Modified duration based on an example yield.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including but not limited to, the assumptions described in the Offering
Document. Lehman Brothers Inc., and any of its affiliates, make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
description of the securities or the underlying assets, the information
contained in the Offering Document.)
4
<PAGE>
TRANSACTION SPECIFICS:
- ----------------------
Delay Days: No delay on bonds
Managers: LEHMAN BROTHERS (SOLE MANAGER)
Collateral: Series 1995-F: 8,694 home improvement contracts and
promissory notes secured by the related real estate
(90% conventional and 10% FHA-insured.
Legal Final: [January 2021]
ERISA: Class A-1, Class A-2, Class A-3, and Class A-4
Certificates are expected to be ERISA eligible.
All other Certificates are not ERISA eligible.
SMMEA: The Certificates are NOT SMMEA qualifying.
Distribution Date: The 15th of each month, beginning January 16, 1996
Expected Pricing: Week of December 11, 1995
Settlement: 5 Business Days
Trustee: First Trust N.A.
Optional Redemption: 10% Cleanup Call
Tax Status: The 1995-F Series will elect to be treated as a REMIC
for federal tax purposes
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including but not limited to, the assumptions described in the Offering
Document. Lehman Brothers Inc., and any of its affiliates, make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
description of the securities or the underlying assets, the information
contained in the Offering Document.)
2
<PAGE>
PREPAYMENT SENSITIVITY INFORMATION
- ----------------------------------
Projected Performance Under Varying CPR Assumptions (1)
<TABLE>
<S> <C> <C> <C> <C> <C>
PREPAYMENTS SPEEDS (CPR) 11% 13% **15%** 17% 19%
- ------------------------ --------- --------- --------- --------- ---------
TO CALL
- -------
Class A-1
- ---------
Avg. Life/Duration (years) (2) 0.67/0.64 0.59/0.56 0.52/0.49 0.46/0.44 0.42/0.40
Window (# of months) 16 14 12 11 10
Class A-2
- ---------
Avg. Life/Duration (years) (2) 2.45/2.20 2.12/1.93 1.87/1.72 1.67/1.54 1.50/1.39
Window (# of months) 29 25 23 20 18
Class A-3
- ---------
Avg. Life/Duration (years) (2) 4.32/3.70 3.77/3.28 3.33/2.94 2.98/2.65 2.68/2.41
Window (# of months) 18 16 14 14 12
Class A-4
- ---------
Avg. Life/Duration (years) (2) 6.84/5.40 6.06/4.89 5.42/4.46 4.88/4.08 4.39/3.72
Window (# of months) 47 44 40 36 34
Class M-1
- ---------
Avg. Life/Duration (years) (2) 10.39/7.25 9.48/6.79 8.64/6.35 7.89/5.93 7.19/5.52
Window (# of months) 39 40 40 38 36
Class M-2
- ---------
Avg. Life/Duration (years) (2) 12.24/7.96 11.40/7.61 10.57/7.24 9.74/6.84 8.98/6.46
Window (# of months) 3 3 3 3 3
Class B-1
- ---------
Avg. Life/Duration (years) (2) 6.58/5.11 5.83/4.64 5.19/4.22 4.63/3.84 4.26/3.57
Window (# of months) 47 43 40 37 33
Class B-2
- ---------
Avg. Life/Duration (years) (2) 11.10/7.38 10.23/6.98 9.38/6.58 8.58/6.17 7.92/5.82
Window (# of months) 44 45 44 42 40
TO MATURITY
- -----------
Class M-2
- ---------
Avg. Life/Duration (years) (2) 13.86/8.58 13.30/8.36 12.68/8.11 12.02/7.83 11.34/7.53
Window (# of months) 47 57 67 77 86
Class B-2
- ---------
Avg. Life/Duration (years) (2) 11.79/7.63 11.03/7.29 10.27/6.94 9.54/6.58 8.93/6.27
Window (# of months) 88 99 108 116 123
</TABLE>
(1) These assumptions may change and are subject to pricing.
(2) Modified Duration - assumes an example yield.
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including but not limited to, the assumptions described in the Offering
Document. Lehman Brothers Inc., and any of its affiliates, make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
description of the securities or the underlying assets, the information
contained in the Offering Document.)
3
<PAGE>
SUMMARY DESCRIPTION OF THE RECEIVABLES POOL:
- --------------------------------------------
. As of the Cut-Off Date (12/1/95) the collateral pool had the following
characteristics:
. fully amortizing
. fixed contractual rate of interest
. level payments over the term of such loan
. interest computed on the simple interest method.
The contracts were originated or purchased and will be serviced by Green Tree.
. Each Contract has its last schedule payment due no later than December 20,
2020
. Each FHA-insured Contract was originated in accordance with applicable FHA
regulations and is insured, without set-off, surcharge or defense, by FHA
Insurance up to 90% of the principal balance
. All Contracts have a contractual rate of interest of at least 8.99% per
annum and not more than 15.75%
. The Contracts have remaining maturities of at least 22 months but not more
than 300 months and original maturities of at least 24 months but not more
than 300 months
. Geographic Distribution:
State % of Pool Balance
----- -----------------
California 15.50%
Florida 7.01
New York 8.69
New Jersey 6.08
Pennsylvania 5.87
The pool is comprised of Receivables from 48 states. No other state
accounts for more than 5.00% of the aggregate original receivables
balance.
COLLATERAL SUMMARY STATISTICS
- -----------------------------
-------------
SERIES 1995-F
---------------------------------------------------
AVERAGE BALANCE $15,266
WAC 11.914%
ORIGINAL WAM 191 mos.
REMAINING WAM 190 mos.
% OF FHA 10%
% OF CONVENTIONAL 90%
---------------------------------------------------
This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by, and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including but not limited to, the assumptions described in the Offering
Document. Lehman Brothers Inc., and any of its affiliates, make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
description of the securities or the underlying assets, the information
contained in the Offering Document.)
4
