<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): OCTOBER 15, 1996
HOME IMPROVEMENT LOAN TRUST 1996-E
----------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-55853 APPLIED FOR
----------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file numbers) identification no.)
1100 Landmark Towers, 345 St. Peter St, St. 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 October 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 6.02 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.
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<C> <S>
99.1 Monthly Report delivered to
Certificateholders on
October 15, 1996.
</TABLE>
<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: October 15, 1996
HOME IMPROVEMENT LOAN
TRUST 1996-E
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>
<TABLE>
<CAPTION>
INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
------ ----
<C> <S> <C>
99.1 Monthly Report delivered to Certificateholders 5
on October 15, 1996.
</TABLE>
<PAGE>
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, 1996 between the Company
and First Trust (N.A), as Trustee of Home Improvement Loan Trust 1996-E (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 September 1, 1996 to September 30,
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 9th day of
October, 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 6.02 of the Pooling and Servicing
Agreement (the "Agreement") dated as of September 1, 1996 between the Company
and First Trust National Association, as Trustee of Home Improvement Loan
Trust 1996-E (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 6.02 of the Agreement, be assigned by the
Trustee to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 9th day of
October, 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 7.20%
GREEN TREE TRUST
1996-E
MONTHLY REPORT
September 1996
<TABLE>
<CAPTION>
Distribution Date:10/15/96
CUSIP # 393505 PR7
Trust Account 3335178-0
<C> <S> <C> <C>
A. Collected Amount $1,128,334.56
B. Delinquent Payments Advanced/Recovered 27,691.03
C. Aggregate Repurchase Price for Contracts to be Repurchased .00
D. Amount Available (A+B+C) 1,156,025.59
E. Monthly Interest (7.20%) 81,264.97
F. Monthly Principal
(1) Regular Principal Payments 254,521.14
(2) Principal Prepayments 924,168.51
(3) Delinquent Principal Advanced 16,948.92
(4) Net Losses .00
(5) Contracts Repurchased due to Breach of
Representations and Warranties
(see attached) .00
(6) Bankruptcy Write-down .00
(7) Delinquent Payments Recovered .00
(8) Unpaid Principal from Prior Months .00
Total Principal 1,195,638.57
G. Monthly Servicing Fee (.75%) .00
H. Advanced Reimbursed .00
I. Guaranty Fee .00
J. Shortfall [(E+F+(if Company is not Servicer)G)-D] 120,877.95
K. Guaranty Payment (lesser of J or Guaranty Amount from
prior month) 120,877.95
L. Aggregate Certificate Principal Balance 25,892,684.43
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT LOANS 7.20%
GREEN TREE TRUST
1996-E
MONTHLY REPORT
September 1996
Page 2
Distribution Date: 10/15/96
CUSIP # 393505 PR7
Trust Account 3335178-0
<TABLE>
<CAPTION>
<S> <C>
M. New Guaranty Amount (lesser of(1)Guaranty Amount
from prior month -K or (2)L) 2,587,954.05
N. Pool Scheduled Principal Balance 25,892,684.43
O. Pool Factor
(1) Previous Month Pool Factor 1.00000000
(2) Current Month Pool Factor .95586148
P. Aggregate Scheduled Balances and Number of
Delinquent Contracts
(1) 31-59 days 67,836.38 11
(2) 60-89 days 10,625.42 2
(3) 90 days or more .00 0
Q. Liquidated Contracts #0 .00
(1) Net Liquidation Loss .00
R. Number of Loans Remaining 5,049
S. Number of Principal Balance of Contracts with FHA
Claims finally rejected, or no FHA claim was submitted
because FHA Insurance was unavailable #0 .00
T. Average Sixty-Day Delinquency Ratio .04%
U. Current Realized Loss Ratio .00%
V. Cumulative Realized Loss Ratio .00%
</TABLE>
Please contact the Bondholder Relations Department of First Trust National
Association at (612) 973-6700 with any questions regarding this Statement or
your Distribution.
