<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, 1996
HOME IMPROVEMENT LOAN TRUST 1996-A
----------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-55853 41-6409978
- --------------------------------------------------------------------------------
(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.)
<PAGE>
ITEM 5. OTHER EVENTS.
------------
Pursuant to the Pooling and Servicing Agreement between Green
Tree Financial Corporation (the "Servicer") and First Trust
(N.A.) (the "Trustee"), on November 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 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, 1996.
<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: November 15, 1996
HOME IMPROVEMENT LOAN TRUST 1996-A
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/Phyllis A. Knight
----------------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER PAGE
- ------- ----
<C> <S> <C>
99.1 Monthly Report delivered to Certificateholders on 5
November 15, 1996.
</TABLE>
<PAGE>
Exhibit 99.1
GREEN TREE FINANCIAL CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Vice President and Treasurer 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 September 1, 1995 between the Company and First Trust
(N.A), as Trustee of Home Improvement Loan Trust 1996-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 October 1, 1996 to October 31, 1996
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
November, 1996.
GREEN TREE FINANCIAL CORP.
BY: /s/ Phyllis A. Knight
------------------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Vice President and Treasurer 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, 1996 between the Company and First Trust
National Association, as Trustee of Home Improvement Loan Trust 1996-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
November,1996.
GREEN TREE FINANCIAL CORP.
BY: /s/ Phyllis A. Knight
-------------------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
Class A Certificates
- --------------------
1. (a) Amount Available (including Monthly
Servicing Fee) $2,502,602.16
(b) Class M-1 Interest Deficiency Amount
(if any), Class M-2 Interest Deficiency
Amount (if any) and Class B-1 Interest
Deficiency Amount (if any) withdrawn for
prior Payment Date .00
(c) Amount Available after giving effect to
withdrawal of any Class M-1 Interest Deficiency
Amount, Class M-2 Interest Deficiency Amount
and Class B-1 Interest Deficiency Amount prior
Payment Date 2,502,602.16
INTEREST
2. Aggregate Interest
(a) Class A-1 Pass-through Rate 5.70%
Class A-1 Interest 91,478.94
(b) Class A-2 Pass-through Rate 6.00%
Class A-2 Interest 105,000.00
(c) Class A-3 Pass-through Rate 6.35%
Class A-3 Interest 91,545.83
3. Amount Applied to unpaid Class A Interest Shortfall .00
4. Remaining Unpaid Class A Interest Shortfall .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 2
<TABLE>
<CAPTION>
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
PRINCIPAL
<S> <C> <C>
5. Formula Principal Distribution Amount:
(a) Scheduled Principal $ 280,099.83
(b) Principal Prepayments 1,414,286.96
(c) Delinquent Payments Advanced 36,189.70
(d) Liquidated Contracts 100,213.75
(e) Repurchases .00
(f) Delinquent Payments Recovered (38,542.00)
(g) Previously Undistributed Principal Amouns .00
Total Principal $ 1,792,248.24
6. Pool Scheduled Principal Balance 79,192,498.69
7. Senior Percentage for such Payment Date 100%
8. Class A Principal Distribution:
(a) Class A-1 1,792,248.24
(b) Class A-2 .00
(c) Class A-3 .00
9. Class A Principal Balance
(a) Class A-1 Principal Balance 17,466,475.69
(b) Class A-2 Principal Balance 21,000,000.00
(c) Class A-3 Principal Balance 17,300,000.00
CLASS M-1 CERTIFICATES
----------------------
10. Amount Available less the Class A Distribution
Amount (including Monthly Servicing Fee) 422,329.15
INTEREST
11. Aggregate Interest
(a) Class M-1 Pass-through Rate 6.95%
Class M-1 Interest 37,935.42
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 3
<TABLE>
<CAPTION>
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
<S> <C>
12. Amount applied to Unpaid Class M-1 Interest Shortfall .00
13. Amount applied to Class M-1 Interest Deficiency Amount .00
14. Remaining unpaid Class M-1 Interest Deficiency Amount .00
15. Remaining Unpaid Class M-1 Interest Shortfall .00
PRINCIPAL
16. Formula Principal Distribution Amount
(a) Scheduled Principal .00
(b) Principal Prepayments .00
(c) Liquidated Contracts .00
(d) Repurchased .00
(e) Previously Undistributed Principal Amounts .00
17. Class M-1 Principal Balance 6,550,000.00
18. Senior Percentage for such Payment Date 100.00%
19. Class M-1 Principal Distribution .00
INTEREST ON PRINCIPAL SHORTFALL
20. Aggregate Principal Shortfall .00
21. Class M-1 Principal Shortfall Amount .00
22. Amount applied to Unpaid Class M-1 Interest
Shortfall on Principal Shortfall .00
23. Remaining Unpaid Class M-1 Interest Shortfall on
Principal Shortfall .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 4
<TABLE>
<CAPTION>
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
Class M-2 Certificates
----------------------
<S> <C> <C>
24. Amount Available less the Class A Distribution Amount
and Class M-1 Distribution Amount (including Monthly
Servicing Fee) 384,393.73
INTEREST
25. Current Interest
(a) Class M-2 Pass-through Rate 7.30%
(b) Class M-2 Interest 34,218.75
26. Amount applied to Unpaid Class M-2 Interest Shortfall .00
27. Amount applied to Class M-2 Interest Deficiency Amount .00
28. Remaining unpaid Class M-2 Interest Deficiency Amount .00
29. Remaining unpaid Class M-2 Interest Shortfall .00
PRINCIPAL
30. Formula Principal Distribution Amount
(a) Scheduled Principal .00
(b) Principal Prepayments .00
(c) Liquidated Contracts .00
(d) Repurchases .00
(e) Previously Undistributed Principal
Amount .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 5
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
31. Class M-2 Principal Balance 5,625,000.00
32. Senior Percentage for such Payment Date 100.00%
33. Class M-2 Percentage Distribution: .00
INTEREST ON PRINCIPAL SHORTFALL
34. Aggregate Principal Shortfall Amount .00
35. Class M-2 Principal Shortfall Amount .00
36. Amount applied to Unpaid Class M-2 Interest
Shortfall on Principal Shortfall .00
37. Remaining Unpaid Class M-2 Interest Shortfall
on Principal Shortfall .00
CLASS B PRINCIPAL DISTRIBUTION TESTS
(tests must be satisfied on and after the Payment Date
occurring in April 1999)
38. Average Sixty Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current
Payment Date .65%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two
preceding months; may not exceed 2.5%) .48%
39. Average Thirty Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current
Payment Date .63%
(b) Average Thirty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two
preceding months; may not exceed 5%) .68%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 6
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
40. 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% from April 1, 1999 to March 31, 2001,
11% from April 1, 2001 to March 31, 2002,
12% after March 1, 2002 .28%
41. Current Realized Losses Test
(a) Current Realized Losses for current Payment Date 105,366.11
(b) Current Realized Loss Ratio (total Realized
Losses for most recent three months, multiplied
by 4, divided by arithmetic average of Pool
Schedule Principal Balances for third preceding
Remittance and for current Remittance Date;
may not exceed 2.5%) .92%
42. 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 24%) 13.89%
CLASS B-1 CERTIFICATES
- ----------------------
43. Amount Available less the Class A Distribution Amount
and Class M Distribution Amount
(including Monthly
Servicing Fee) 350,174.98
INTEREST
44. Class B-1 Pass-through Rate 6.85%
45. Current Interest 32,109.38
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 7
<TABLE>
<CAPTION>
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
<S> <C> <C>
46. Amount applied to Unpaid Class B-1 Interest Shortfall .00
47. Amount applied to Class B-1 Interest Deficiency Amount .00
48. Remaining unpaid Class B-1 Interest Deficiency Amount .00
49. Remaining Unpaid Class B-1 Interest Shortfall .00
PRINCIPAL
50. Formula Principal Distribution Amount:
(a) Scheduled Principal .00
(b) Principal Prepayments .00
(c) Liquidated Contracts .00
(d) Repurchases .00
(e) Previously Undistributed Principal Amounts .00
51. Pool Scheduled Principal Balance 79,192,498.69
52. Class B Percentage for such Payment Date .00
53. Class B Percentage of Formula Principal
Distribution Amount .00
54. Class B Principal Balance 11,251,023.00
55. Class B-1 Principal Balance 5,625,000.00
INTEREST ON PRINCIPAL SHORTFALL
56. Aggregate Principal Shortfall Amount .00
57. Class B-1 Principal Shortfall Amount .00
58. Amount applied to Unpaid Class B-1 Interest
Shortfall on Principal Shortfall .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 8
<TABLE>
<CAPTION>
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
<S> <C> <C>
59. Remaining Unpaid Class B-1 Interest Shorfall on Principal Shortfall .00
CLASS B-2 CERTIFICATES
----------------------
60. Remaining Amount Available 318,065.60
INTEREST
61. Class B-2 Pass-through Rate 7.40%
62. Current Interest 34,693.81
63. Amount applied to Unpaid Class B-2 Interest
Shortfall .00
64. Remaining Unpaid Class B-2 Interest Shortfall .00
PRINCIPAL
65. Formula Principal Distribution Amount:
(a) Scheduled Principal .00
(b) Principal Prepayments .00
(c) Liquidated Contracts .00
(d) Repurchases .00
(e) Previously Undistributed Principal Amounts .00
66. Pool Scheduled Principal Balance 79,192,498.69
67. Class B Percentage for such Payment Date .00
68. Class B Percentage of Formula Principal
Distribution Amount .00
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 9
Distribution Date: 11/15/96
CUSIP#: 393505-LJ9,LK6,LL4,
LM2,LN0,LP5,LQ3
Trust Account: 3334725-0
<TABLE>
<S> <C>
69. Current Principal (Class B Percentage of Formula Principal
Distribution Amount less Class B-1 Principal Balance) .00
70. Class B-2 Principal Liquidation Loss Amount .00
71. Class B-2 Limited Guaranty Payment .00
72. Class B-2 Principal Balance 5,626,023.00
INTEREST ON PRINCIPAL SHORTFALL
73. Aggregate Principal Shortfall Amount .00
74. Class B-2 Principal Shortfall Amount .00
75. Amount applied to Unpaid Class B-2 Interest Shortfall
on Principal Shortfall .00
76. Remaining Unpaid Class B-2 Interest Shortfall
on Principal Shortfall .00
CLASS A, CLASS M, AND CLASS B CERTIFICATES
------------------------------------------
77. Pool Factor
(a) Previous Month Pool Factor .86405829
(b) Current Month Pool Factor .84493608
78. Aggregate Scheduled Balances of Delinquent Contracts
as of Determination Date
(a) 31-59 days 496,816.61 43
(b) 60-89 days 301,610.11 17
(c) 90 or more days 212,146.18 16
79. Defaulted Contracts 100,769.91
80. Number of Liquidated Contracts and
Net Liquidation Loss # 6 105,366.11
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS
GREEN TREE TRUST
1996-A
MONTHLY REPORT
October 1996
Page 10
Distribution Date: 11/15/96
CUSIP#: 393505 LJ9,LK6,LL4,LM2,LN0,
LP5,LQ3
Trust Account: 3334725-0
<TABLE>
<CAPTION>
<S> <C>
81. Number of Loans Remaining 5,510
82. Number and Principal Balance of Contracts with FHA Claims
finally rejected, or no FHA claim was submitted because
FHA Insurance was unavailable # 19 242,911.17
83. FHA Insurance reserve amount 95,321,191.18
84. Amount received from FHA insurance .00
CLASS C CERTIFICATES
- --------------------
85. Monthly Servicing Fee 50,615.47
86. Class C Residual Payment 232,756.32
</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.
<PAGE>
GT-HI
1996-B
October 1996
Defaulted Contracts
<TABLE>
<CAPTION>
Estimated
Loss at
Account# Principal Interest Amount Sale Date
-------- --------- --------- --------- ---------
<S> <C> <C> <C> <C>
15720361 13,268.94 73.64 13,342.58 13,950.16
15724340 16,768.37 93.06 16,861.43 17,718.54
15725384 8,561.72 47.51 8,609.23 9,029.31
15725986 30,342.37 168.40 30,510.77 31,536.84
15726754 8,395.30 46.59 8,441.89 8,932.19
15727086 22,877.05 126.96 23,004.01 24,199.07
TOTALS $100,213.75 556.16 $100,769.91 $105,366.11
=========== ------ =========== ===========
</TABLE>
