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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): February 17, 1997
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 February 17, 1997, 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 February 17, 1997
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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: February 17, 1997
SECUTIZED 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 on
February 17, 1997. 5
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
January 1997
PAYMENT February 17, 1997
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP#393534AB8
Trust Account #33-31958-0
Distribution Date: February 17, 1997
PER $1,000
SECURITIZED NET INTEREST MARGIN CERTIFICATES ORIGINAL
- -------------------------------------------- ----------
1. Amount Available Interest 2,139,693.71
2. Aggregate Interest 281,927.82 3.05116688
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest 281,927.82
5. Monthly Interest Principal
6. Current month's principal
distribution 1,857,765.89 20.10569145
7. Remaining outstanding principal
balance 41,239,480.73 446.3147265
Pool Factor .44631473
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 65,471,172.69**
9. Aggregate principal balance of
loans refinanced by Green Tree
Financial Corp. 1,600,820.64
10. Weighted average CPR 9.22%
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
January 1997
PAYMENT February 17, 1997
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
Page 2
CUSIP#393534AB8
Trust Account #33-31958-0
Distribution Date: February 17, 1997
11. Weighted average CDR 2.69%
12. Annualized net loss percentage 1.33%
13. Delinquency 30-59 day 1.05%
60-89 day 0.32%
90+ day 0.77%
Total 30+ 2.14%
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.
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
January 1997
PAYMENT February 17, 1997
Fee Assets
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Guarantee Inside Fee Asset
Fees Refi Total
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GTFC 1994-1 684,956.25 40,359.60 725,315.85
GTFC 1994-2
GTFC 1994-3
GTFC 1994-4
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684,956.25 40,359.60 725,315.85
Total amount of Guarantee Fees and Inside 725,315.85
Refinance Payments
Subordinated Servicing Fees 223,099.89
Payment on Finance 1 Note 948,415.74
Allocable to Interest (current) 98,621.47
Allocable to accrued but unpaid Interest .00
Accrued and unpaid Trustee Fees .00
Allocable to Principal 849,794.27
Finance 1 Note Principal Balance 14,226,099.63
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
January 1997
PAYMENT February 17, 1997
Inside
Residual Refi Total
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GTFC 1994-1 .00 .00 .00
GTFC 1994-2 404,962.37 36,226.21 441,188.58
GTFC 1994-3 250,365.09 9,815.28 260,180.37
GTFC 1994-4 463,225.13 26,683.89 489,909.02
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1,118,552.59 72,725.38 1,191,277.97
Total Residual and Inside
Refinance Payments 1,191,277.97
