<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
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.
------------
Pursuant to the Pooling and Servicing Agreement between Green Tree
Financial Corporation (the "Servicer") and First Bank National
Association (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 1.01 of
the 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
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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, 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
----------------------------------
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 November 15, 1996.
<PAGE> Exhibit 99.1
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
October 1996
PAYMENT November 15, 1996
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP# 393534AB8
Trust Account #33-31958-0
Distribution Date: November 15, 1996
<TABLE>
<CAPTION>
SECURITIZED NET INTEREST PER $1,000
MARGIN CERTIFICATES ORIGINAL
- ------------------------ ------------
<S> <C> <C>
1. Amount Available 2,167,658.66
Interest
2. Aggregate Interest 316,778.36 3.42833723
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest 316,778.36
5. Monthly Interest
Principal
6. Current month's principal distribution 1,850,880.30 20.03117208
7. Remaining outstanding principal balance 46,573,837.72 504.0458628
Pool Factor .50404586
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 68,632,721.34**
9. Aggregate principal balance of loans
refinanced by Green Tree Financial Corp. 2,232,109.11
10. Weighted average CPR 12.40%
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
October 1996
PAYMENT November 15, 1996
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
Page 2
CUSIP# 393534AB8
Trust Account #33-31958-0
Distribution Date: November 15, 1996
11. Weighted average CDR 3.36%
12. Annualized net loss percentage 1.52%
13. Delinquency 30-59 day 0.98%
60-89 day 0.45%
90+ day 0.88%
Total 30+ 2.31%
First Trust N.A. Paying Agent/Bondholder Relations (612) 973-6700
**Present value of the projected remaining cashflows is based on estimated
future performance of the underlying loans. These projections are subject to
ongoing evaluation based upon a number of factors, including historical
performance. As such, this projected value may change periodically, not only as
a result of actual experience but also as a result of revisions made to the
assumptions upon which such projections are based.
The assumptions utilized in projecting this value are in the process of being
re-assessed at the time of publication of this report. The amount shown
represents the present value of projected remaining cashflows based on
assumptions similar to those used in the previous period.
<PAGE>
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
October, 1996
PAYMENT November 15, 1996
<TABLE>
<CAPTION>
Fee Assets
-------------------------------------
Guarantee Inside Fee Asset
Fees Refi Total
---------- --------- ----------
<S> <C> <C> <C>
GTFC 1994-1 654,780.35 50,414.65 705,195.00
GTFC 1994-2
GTFC 1994-3
GTFC 1994-4
---------- --------- ----------
654,780.35 50,414.65 705,195.00
Total amount of Guarantee Fees and Inside
Refinance Payments 705,195.00
Subordinated Servicing Fees 231,495.05
Payment on Finance 1 Note 936,690.05
Allocable to Interest (current) 114,980.49
Allocable to accrued but unpaid Interest .00
Accrued and unpaid Trustee Fees .00
Allocable to Principal 821,709.56
Finance 1 Note Principal Balance 16,754,925.63
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
October, 1996
PAYMENT November 15, 1996
<TABLE>
<CAPTION>
Inside
Residual Refi Total
------------ ---------- ------------
<S> <C> <C> <C>
GTFC 1994-1 .00 .00 .00
GTFC 1994-2 477,375.68 39,134.35 516,510.03
GTFC 1994-3 272,610.64 25,180.78 297,791.42
GTFC 1994-4 371,405.39 45,261.77 416,667.16
1,121,391.71 109,576.90 1,230,968.61
Total Residual and Inside
Refinance Payments 1,230,968.61
</TABLE>
