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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): MAY 15, 1996
GREEN TREE SECURITIZED NET INTEREST MARGIN TRUST 1994-B
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(Exact name of registrant as specified in its charter)
MINNESOTA 33-53527 41-1786620
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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.)
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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 Bank National
Association (the "Trustee"), on May 15, 1996, 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 1.01 of the
Servicing Agreement attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(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
May 15, 1996
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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: May 15, 1996
SECURITIZED NET INTEREST MARGIN
TRUST 1994-B
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/ Phyllis A. Knight
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PHYLLIS A. KNIGHT
Vice President and Treasurer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
------ ----
99.1 Monthly Report delivered to Certificateholders 5
on May 15, 1996.
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
APRIL 1996
PAYMENT MAY 15, 1996
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP#393534AB8
Trust Account #33-31958-0
Distribution Date: May 15, 1994
SECURITIZED NET INTEREST MARGIN PER $1,000
------------------------------- ORIGINAL
CERTIFICATES ----------
------------
1. Amount Available 962,709.25
Interest
2. Aggregate Interest 354,812.37 3.83996071
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest
5. Monthly Interest 354,812.37
Principal
6. Current month's principal
distribution 607,896.88 6.57897056
7. Remaining outstanding principal
balance 53,630,936.77 580.4213936
Pool Factor .58042139
8. Present value of the projected
remaining aggregate cashflows of
the Finance I Assets and the
Residual Assets, as of the immediately
preceding Distribution Date 83,828,177.95
9. Aggregate principal balance of
loans refinanced by Green Tree
Financial Corp. 341,740.07
11. Weighted average CPR 12.64%
12. Weighted average CDR 2.71%
13. Annualized net loss percentage 1.09%
14. Delinquency 30-59 day 1.00%
60-89 day 0.38%
90+ day 0.81%
Total 30+ 2.19%
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
APRIL, 1996
PAYMENT MAY 15, 1996
Fee Assets
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Guarantee Inside Fee Asset
Fees Refi Total
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GTFC 1994-1 308,863.32 .00 308,863.32
GTFC 1994-3
GTFC 1994-4 ------------- ---------- ----------
308,863.32 .00 308,863.32
Total amount of Guarantee Fees and Inside
Refinance Payments 308,863.32
Payment on Finance 1 Note 308,863.32
Allocable to Interest (current) 130,514.11
Allocable to accrued but unpaid Interest .00
Accrued and unpaid Trustee Fees .00
Allocable to Principal 178,349.21
Finance 1 Note Principal Balance 19,772,852.68
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
APRIL, 1996
PAYMENT MAY 15, 1996
<TABLE>
<CAPTION>
Inside
Residual Refi Total
---------- ---------- ----------
<S> <C> <C> <C>
GTFC 1994-1 .00 .00 .00
GTFC 1994-2 183,115.17 12,454.37 195,569.54
GTFC 1994-3 146,926.61 2,787.21 149,713.82
GTFC 1994-4 298,523.31 10,039.26 308,562.57
---------- ---------- ----------
628,565.09 25,280.84 653,845.93
---------- ---------- ----------
Total Residual and Inside
Refinance Payments 653,845.93
</TABLE>
