<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 25, 1997
GREEN TREE FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 01-08916 41-1807858
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(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
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(Address of principal executive offices)
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 1. Changes in Control of Registrant.
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Not applicable.
Item 2. Acquisition or Disposition of Assets.
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Not applicable.
Item 3. Bankruptcy or Receivership.
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Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
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Not applicable.
Item 5. Other Events.
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Not applicable.
Item 6. Resignations of Registrant's Directors.
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Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
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(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Information with respect to certain retail
installment sales contracts and promissory notes
for the purchase of a variety of consumer
products and equipment to be transferred to the
$594,781,837 (Approximate) Recreational,
Equipment and Consumer Trust, Series 1997-B,
formed by Green Tree Financial Corporation.
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
/s/ Scott T. Young
By: ________________________________
Scott T. Young
Vice President and Controller
3
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Number Page
- -------------- ----
<S> <C>
99.1 Information with respect to certain retail installment sales 5
contracts and promissory notes for the purchase of a variety of
consumer products and equipment to be transferred to the
$594,781,837 (Approximate) Recreational, Equipment and Consumer
Trust, Series 1997-B, formed by Green Tree Financial Corporation.
</TABLE>
4
<PAGE>
EXHIBIT 99.1
$594,781,837 (APPROXIMATE)
RECREATIONAL, EQUIPMENT
AND CONSUMER TRUST
SERIES 1997-B
INFORMATION REGARDING CERTAIN SUBSEQUENT CONTRACTS
Set forth below is information regarding certain retail installment sales
contracts and promissory notes for the purchase of a variety of consumer
products and equipment having a principal balance of $99,999,638.92 as of the
Cut-off Date (the "Contracts"). The Contracts represent all of the Subsequent
Contracts which will be conveyed by the Company to the Trust on the Closing Date
in connection with the above-captioned offering. Information with respect to the
Initial Contracts is as set forth in the Prospectus Supplement dated June 18,
1997 relating to the above-captioned offering. Unless otherwise defined herein,
all capitalized terms have the meanings set forth in the Prospectus Supplement.
The Contracts were originated between January 1997 and June 1997. The
Contracts (i) had a remaining maturity, as of the Cutoff Date, of at least 11
months, but not more than 240 months, (ii) had an original maturity of at least
12 months, but not more than 240 months, (iii) had an original principal balance
of at least $2,000.17 and not more than $1,330,000.00, (iv) had a remaining
principal balance as of the Cutoff Date of at least $1,955.11 and not more than
$1,330,000.00, and (v) had a contractural rate of interest of at least 8.50%
and not more than 20.5%.
1
<PAGE>
Characteristics of Contracts
<TABLE>
<CAPTION>
Weighted Weighted
% of Weighted Average Weighted Average
Number Scheduled Pool Average Average Original Average Loan-to-
of % Principal Principal Principal Contract Scheduled Remaining Value
Asset Type Contracts Contracts Balance Balance Balance Rate Term Term(1) Ratio
---------- --------- --------- --------- --------- --------- -------- --------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Aircraft......... 113 1.77% $15,886,144.81 15.89% $140,585.35 9.74 146.65 146.65 89%
Trucks........... 273 4.28 18,959,155.26 18.96 69,447.46 11.05 49.88 49.84 93
Recreational
Vehicles........ 976 15.31 15,980,869.65 15.98 16,373.84 10.43 144.50 144.37 81
Motorcycles...... 2,067 32.43 17,716,645.69 17.72 8,571.19 13.47 64.45 64.28 83
Keyboards........ 122 1.91 1,250,489.55 1.25 10,249.91 11.56 72.16 72.16 79
Marine Products.. 1,562 24.51 21,131,174.29 21.13 13,528.28 11.06 131.81 131.64 84
Horsetrailers.... 386 6.05 3,863,473.21 3.86 10,009.00 11.64 118.84 118.68 83
Sport Vehicles... 876 13.74 5,211,686.46 5.21 5,949.41 15.90 55.54 55.37 84
----- ------ ------------- ------ --------- ----- ------ ------ --
Total......... 6,375 100.00% $99,999,638.92 100.00% $15,686.22 11.45 103.51 103.40 86%
===== ====== ============= ====== ========= ===== ====== ====== ==
</TABLE>
______________
(1) Based on scheduled payments due after the Cutoff Date and assuming no
prepayments on the Contracts.
GEOGRAPHICAL CONCENTRATION OF CONTRACTS
<TABLE>
<CAPTION>
PRINCIPAL % OF
NUMBER OF PERCENT OF BALANCE POOL
CONTRACTS AS OF NUMBER OF AS OF PRINCIPAL
STATE(1) CUTOFF DATE CONTRACTS CUTOFF DATE BALANCE
- -------- --------------- ---------- --------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 135 2.12% $ 3,372,356.00 3.37%
Alaska.................. 4 .06 108,865.75 .11
Arizona................. 328 5.15 4,316,353.02 4.32
Arkansas................ 22 .35 797,223.47 .80
California.............. 1,137 17.83 17,008,061.69 17.02
Colorado................ 123 1.93 2,307,691.47 2.31
Connecticut............. 95 1.49 821,913.74 .82
Delaware................ 12 .19 201,422.52 .20
District of Columbia.... 2 .03 6,135.03 .01
Florida................. 473 7.42 7,853,819.75 7.86
Georgia................. 205 3.22 3,201,778.19 3.20
Hawaii.................. 11 .17 121,131.88 .12
Idaho................... 16 .25 352.723.49 .35
Illinois................ 120 1.88 2,864,583.24 2.86
Indiana................. 47 .74 447,005.80 .45
Iowa.................... 28 .44 2,259,713.31 2.26
Kansas.................. 28 .44 454,542.51 .45
Kentucky................ 52 .82 438,126.44 .44
Louisiana............... 62 .97 1,473,425.13 1.47
Maine................... 11 .17 103,611.21 .10
Maryland................ 136 2.13 1,614,093.14 1.61
Massachusetts........... 132 2.07 1,142,281.88 1.14
Michigan................ 63 .99 1,301,427.91 1.30
Minnesota............... 140 2.20 2,234,154.59 2.23
Mississippi............. 59 .93 1,390,279.45 1.39
Missouri................ 129 2.02 1,790,082.94 1.79
Montana................. 4 .06 82,690.50 .08
Nebraska................ 18 .28 604,701.61 .60
New Hampshire........... 20 .31 1,385,885.08 1.39
New Jersey.............. 225 3.53 1,890,022.74 1.89
New Mexico.............. 84 1.32 1,319,366.90 1.32
Nevada.................. 94 1.47 1,182,207.95 1.18
New York................ 220 3.45 2,483,344.61 2.48
North Carolina.......... 349 5.47 4,049,092.15 4.05
North Dakota............ 4 .06 90,895.75 .09
Ohio.................... 82 1.29 1,433,811.79 1.43
Oklahoma................ 91 1.43 1,429,664.57 1.43
Oregon.................. 95 1.49 1,314,960.60 1.31
Pennsylvania............ 82 1.29 1,359,496.14 1.36
Rhode Island............ 15 .24 177,774.90 .18
South Carolina.......... 131 2.05 2,130,007.14 2.13
South Dakota............ 6 .09 118,483.95 .12
Tennessee............... 175 2.75 2,201,539.97 2.20
Texas................... 726 11.39 11,949,447.88 11.96
Utah.................... 37 .58 1,025,676.43 1.03
Vermont................. 4 .06 29,086.00 .03
Virginia................ 159 2.49 1,799,517.31 1.80
Washington.............. 124 1.95 2,911,019.91 2.91
West Virginia........... 13 .20 282,977.92 .28
Wisconsin............... 40 .63 605,686.71 .61
Wyoming................. 7 .11 159,476.86 .16
----- ------ --------------- ---------
Total................... 6,375 100.00% $ 99,999,638.92 100.00%
===== ====== =============== =========
(1) Based on the address of the Obligor set forth in Green Tree's Records.
</TABLE>
2
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DISTRIBUTION OF CONTRACT AMOUNTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL
ORIGINAL CONTRACT NUMBER OF CONTRACTS BALANCE OUTSTANDING % OF POOL PRINCIPAL
AMOUNT (IN DOLLARS)(1) AS OF CUTOFF DATE AS OF CUTOFF DATE BALANCE
- ---------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000....... 3,668 $ 21,973,188.62 21.97%
Between $10,000 and
$19,999................ 1,839 25,931,325.73 25.93
Between $20,000 and
$29,999................ 386 9,205,111.31 9.21
Between $30,000 and
$39,999................ 135 4,608,993.38 4.61
Between $40,000 and
$49,999................ 85 3,726,413.60 3.73
Between $50,000 and
$59,999................ 53 2,861,871.70 2.86
Between $60,000 and
$69,999................ 35 2,252,786.47 2.25
Between $70,000 and
$79,999................ 25 1,866,762.14 1.87
Between $80,000 and
$89,999................ 33 2,803,562.64 2.80
Between $90,000 and
$99,999................ 17 1,598,195.99 1.60
Between $100,000 and
$109,999............... 16 1,675,531.80 1.68
Between $110,000 and
$119,999............... 9 1,021,974.03 1.02
Between $120,000 and
$129,999............... 10 1,240,903.92 1.24
Between $130,000 and
$139,999............... 9 1,218,844.46 1.22
Between $140,000 and
$149,999............... 5 722,215.33 .72
Between $150,000 and
$159,999............... 3 460,723.55 .46
Between $160,000 and
$169,999............... 9 1,484,690.45 1.48
Between $170,000 and
$179,999............... 1 175,500.00 .18
Between $180,000 and
$189,999............... 0 .00 .00
Between $190,000 and
$199,999............... 3 578,912.96 .58
Between $200,000 and
$249,999............... 12 2,670,033.70 2.67
Between $250,000 and
$299,000............... 4 1,090,202.77 1.09
Between $300,000 and
$349,000............... 3 965,933.00 .97
Between $350,000 and
$399,000............... 2 764,000.00 .76
Between $400,000 and
$449,000............... 1 420,134.34 .42
Between $450,000 and
$499,000............... 4 1,914,550.00 1.91
Between $500,000 and
$549,000............... 0 .00 .00
Between $550,000 and
$599,000............... 1 561,051.48 .56
Between $600,000 and
$649,000............... 1 641,845.75 .64
Between $650,000 and
$699,000............... 2 1,325,000.00 1.33
Between $700,000 and
$749,000............... 1 716,879.80 .72
Between $750,000 and
$799,000............... 0 .00 .00
Between $800,000 and
$849,000............... 0 .00 .00
Between $850,000 and
$899,000............... 0 .00 .00
Between $900,000 and
$949,000............... 0 .00 .00
Between $950,000 and
$999,000............... 0 .00 .00
Over $1,000,000......... 3 3,522,500.00 3.52
----- --------------- ------
Total................ 6,375 $ 99,999,638.92 100.00%
===== =============== ======
</TABLE>
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(1) The largest original Contract amount is $1,330,000.00 which represents 1.33%
of the aggregate principal balance of the Contracts as of the Cut-off Date.
<TABLE>
<CAPTION>
YEAR OF ORIGINATION OF CONTRACTS
AGGREGATE PRINCIPAL % OF POOL
NUMBER OF CONTRACTS BALANCE OUTSTANDING PRINCIPAL
YEAR OF ORIGINATION AS OF CUTOFF DATE AS OF CUTOFF DATE BALANCE
- ------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
1997.................... 6,375 $99,999,638.92 100.00%
----- -------------- ------
Total................ 6,375 $99,999,638.92 100.00%
===== ============== ======
</TABLE>
3
<PAGE>
DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL
NUMBER OF CONTRACTS BALANCE OUTSTANDING
LOAN-TO-VALUE RATIO AS OF CUTOFF DATE AS OF CUTOFF DATE % OF POOL PRINCIPAL BALANCE
- ------------------- ------------------- ------------------- ---------------------------
<S> <C> <C> <C>
Less than 61%...... 485 $ 3,755,772.93 3.76%
61% to 65%......... 211 2,226,243.19 2.23
66% to 70%......... 291 2,870,213.51 2.87
71% to 75%......... 449 5,231,754.11 5.23
76% to 80%......... 711 8,682,214.35 8.68
81% to 85%......... 969 14,866,454.73 14.87
86% to 90%......... 2,243 34,139,236.79 34.14
91% to 95%......... 597 12,994,394.52 12.99
Over 95%........... 419 15,233,354.79 15.23
----- -------------- ------
Total........... 6,375 $99,999,638.92 100.00%
===== ============== ======
</TABLE>
CONTRACT RATES
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL
RANGE OF CONTRACTS BY NUMBER OF CONTRACTS BALANCE OUTSTANDING
CONTRACT RATE AS OF CUTOFF DATE AS OF CUTOFF DATE % OF POOL PRINCIPAL BALANCE
--------------------- ------------------- ------------------- ---------------------------
<S> <C> <C> <C>
Less than 9.00001%...... 37 $ 5,709,244.12 5.71%
9.00001% to 10.00000%... 625 26,848,083.16 26.84
10.00001% to 11.00000%.. 1,418 26,044,849.94 26.04
11.00001% to 12.00000%.. 1,098 16,212,433.15 16.21
12.00001% to 13.00000%.. 677 7,916,934.46 7.92
13.00001% to 14.00000%.. 376 3,645,884.76 3.65
14.00001% to 15.00000%.. 825 5,815,719.98 5.82
15.00001% to 16.00000%.. 418 2,601,852.99 2.60
16.00001% to 17.00000%.. 359 2,079,096.64 2.08
Over 17.00000%.......... 542 3,125,539.72 3.13
----- -------------- ------
Total................ 6,375 $99,999,638.92 100.00%
===== ============== ======
</TABLE>
REMAINING MONTHS TO MATURITY OF CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL
MONTHS REMAINING NUMBER OF CONTRACTS BALANCE OUTSTANDING
AS OF CUTOFF DATE AS OF CUTOFF DATE AS OF CUTOFF DATE % OF POOL PRINCIPAL BALANCE
------------------ ------------------- ------------------- ---------------------------
<S> <C> <C> <C>
Less than 15.......... 10 $ 48,889.01 .05%
15 to 30.............. 217 2,448,379.11 2.45
31 to 45.............. 511 5,259,739.47 5.26
46 to 60.............. 2,655 30,743,504.94 30.74
61 to 75.............. 647 7,454,631.96 7.45
76 to 90.............. 419 5,590,183.87 5.59
91 to 105............. 192 2,175,498.96 2.18
106 to 120............ 810 16,135,402.19 16.14
121 to 135............ 3 675,271.16 .68
136 to 150............ 551 9,879,458.27 9.88
151 to 165............ 1 31,485.25 .03
166 to 180............ 327 16,521,101.66 16.52
181 to 195............ 1 64,247.49 .06
196 to 210............ 0 .00 .00
210 to 225............ 0 .00 .00
226 to 240............ 31 2,971,845.58 2.97
----- --------------- ------
Total.............. 6,375 $ 99,999,638.92 100.00%
===== =============== ======
</TABLE>
4
