<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): September 25, 1997
GREEN TREE FINANCIAL CORPORATION
as originator of Green Tree Recreational,
Equipment & Consumer Trust 1997-C
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(Exact name of registrant as specified in its charter)
Minnesota 1-08916 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.
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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 Green Tree
Recreational, Equipment & Consumer Trust 1997-C, a
trust formed by Green Tree Financial Corporation,
as Seller and Servicer.
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: September 25, 1997 GREEN TREE FINANCIAL CORPORATION
as originator of Green Tree Recreational,
Equipment & Consumer Trust 1997-C
By: /s/ Scott T. Young
------------------------------------
Scott T. Young
Vice President and Controller
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Number Page
- -------------- ----
<S> <C>
99 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 Green Tree
Recreational, Equipment & Consumer Trust 1997-C, a trust formed by
Green Tree Financial Corporation, as Seller and Servicer.
</TABLE>
<PAGE>
EXHIBIT 99.1
$500,000,000 (APPROXIMATE)
RECREATIONAL, EQUIPMENT
AND CONSUMER TRUST
SERIES 1997-C
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 $130,150,791.14 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 September
8, 1997 relating to the above-captioned offering. Unless otherwise defined
herein, all capitalized terms have the meanings set forth in the Prospectus
Supplement.
The Subsequent Contracts were originated between September 1987 and
September 1997. The Subsequent Contracts (i) had a remaining maturity, as of the
Cutoff Date, of at least 8 months, but not more than 240 months, (ii) had an
original maturity of at least 11 months, but not more than 240 months, (iii) had
an original principal balance of at least $1,335.90 and not more than
$1,900,170.00, (iv) had a remaining principal balance as of the Cutoff Date of
at least $1,008.82 and not more than $1,900,170.00, and (v) had a contractural
rate of interest of at least 7.15% and not more than 21.25%.
1
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Characteristics of Contracts
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Percent Percent of Average
Number of of Number Principal Principal Principal
Asset Type Contracts of Contracts Balance Balance Balance
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Aircraft.................................. 122 1.74% 14,319,416.57 11.00% 117,372.27
Trucks.................................... 523 7.45% 37,679,132.29 28.96% 72,044.23
Recreational Vehicles..................... 1,270 18.10% 28,578,432.30 21.96% 22,502.70
Motorcycle................................ 2,051 29.24% 18,415,423.89 14.15% 8,978.75
Keyboard.................................. 219 3.12% 2,162,363.42 1.66% 9,873.81
Marine Products........................... 1,113 15.86% 17,963,928.25 13.80% 16,140.10
Horsetrailers............................. 580 8.27% 5,560,145.47 4.27% 9,586.46
Sport Vehicles............................ 1,038 14.79% 4,971,229.74 3.82% 4,789.24
Home Improvement.......................... 100 1.43% 500,719.21 0.38% 5,007.19
- ----------------------------------------------------------------------------------------------------------------------
Total 7,016 100.00% $130,150,791.14 100.00% $18,550.57
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Weighted Weighted Weighted Weighted
Average Average Average Average
Rem. Term Orig. Term Coupon Orig. LTV
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aircraft.................................. 168.34 168.35 9.64 87%
Trucks.................................... 52.81 52.83 10.73 92%
Recreational Vehicles..................... 157.22 157.53 9.76 79%
Motorcycle................................ 65.96 66.18 12.90 83%
Keyboard.................................. 73.33 73.52 11.27 83%
Marine Products........................... 141.80 142.04 10.42 84%
Horsetrailers............................. 115.12 115.35 11.37 84%
Sport Vehicles............................ 52.33 52.58 15.47 84%
Home Improvement.......................... 93.53 93.53 14.42
- ----------------------------------------------------------------------------------------------------------------------
Total 105.73 105.89 10.89 85%
- ----------------------------------------------------------------------------------------------------------------------
</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................. 146 2.08 3,046,802.26 2.34
Alaska.................. 17 .24 575,436.00 .44
Arizona................. 350 4.99 4,569,662.19 3.51
Arkansas................ 57 .81 1,530,092.20 1.18
California.............. 1,237 17.62 19,656,584.40 15.10
Colorado................ 130 1.85 2,784,759.64 2.14
Connecticut............. 78 1.11 614,880.98 .47
Delaware................ 17 .24 621,829.92 .48
District of Columbia.... 6 .09 48,205.54 .04
Florida................. 580 8.27 11,690,694.05 8.98
Georgia................. 200 2.85 4,701,034.40 3.61
Hawaii.................. 36 .51 331,892.22 .26
Idaho................... 20 .29 374,010.55 .29
Illinois................ 150 2.14 2,770,957.76 2.13
Indiana................. 94 1.34 3,647,656.62 2.80
Iowa.................... 37 .53 761,057.02 .58
Kansas.................. 22 .31 3,024,419.42 2.32
Kentucky................ 72 1.03 1,062,548.56 .82
Louisiana............... 91 1.30 1,733,417.90 1.33
Maine................... 13 .19 89,498.23 .07
Maryland................ 127 1.81 5,091,120.88 3.91
Massachusetts........... 82 1.17 727,970.94 .56
Michigan................ 66 .94 2,059,400.72 1.58
Minnesota............... 134 1.91 2,693,246.54 2.07
Mississippi............. 49 .70 839,551.93 .65
Missouri................ 165 2.35 3,101,897.49 2.38
Montana................. 15 .21 191,203.89 .15
Nebraska................ 28 .40 454,418.56 .35
New Hampshire........... 13 .19 149,073.13 .11
New Jersey.............. 216 3.08 1,861,492.53 1.43
New Mexico.............. 89 1.27 1,157,955.96 .89
Nevada.................. 118 1.68 2,311,548.05 1.78
New York................ 191 2.72 2,623,452.78 2.02
North Carolina.......... 348 4.96 3,945,608.71 3.03
North Dakota............ 8 .11 141,502.00 .11
Ohio.................... 138 1.97 4,832,895.63 3.71
Oklahoma................ 123 1.75 2,796,472.82 2.15
Oregon.................. 138 1.97 2,440,171.85 1.87
Pennsylvania............ 112 1.60 2,247,692.13 1.73
Rhode Island............ 9 .13 58,840.68 .05
South Carolina.......... 113 1.61 3,072,142.63 2.36
South Dakota............ 24 .34 558,072.89 .43
Tennessee............... 175 2.49 3,040,815.17 2.34
Texas................... 795 11.32 13,012,126.05 10.00
Utah.................... 22 .31 447,651.94 .34
Vermont................. 4 .06 15,664.26 .01
Virginia................ 140 2.00 1,468,388.03 1.13
Washington.............. 159 2.27 3,762,232.20 2.89
West Virginia........... 5 .07 106,900.41 .08
Wisconsin............... 46 .66 1,043,038.09 .80
Wyoming................. 11 .16 262,802.39 .20
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Total................... 7,016 100.00% $130,150,791.14 100.00%
===== ====== =============== =========
(1) Based on the address of the Obligor set forth in Green Tree's Records.
</TABLE>
2
<PAGE>
DISTRIBUTION OF CONTRACT AMOUNTS
<TABLE>
<CAPTION>
Range For Original Scheduled Principal
Contract Amount Loan Count Outstanding Percent
- ------------------------------------------------ ---------- ------------------- -------
<S> <C> <C> <C>
Less than $10,000............................ 3,761 21,180,316.38 16.28
Between $10,000 and $19,999............... 1,955 27,468,825.26 21.12
Between $20,000 and $29,999............... 496 11,945,246.84 9.18
Between $30,000 and $39,999............... 209 7,184,264.67 5.52
Between $40,000 and $49,999............... 120 5,342,426.91 4.10
Between $50,000 and $59,999............... 93 5,087,586.77 3.91
Between $60,000 and $69,999............... 69 4,429,805.20 3.40
Between $70,000 and $79,999............... 57 4,282,699.42 3.29
Between $80,000 and $89,999............... 74 6,307,599.07 4.85
Between $90,000 and $99,999............... 51 4,803,366.31 3.69
Between $100,000 and $109,999............... 37 3,844,436.75 2.95
Between $110,000 and $119,999............... 18 2,043,582.50 1.57
Between $120,000 and $129,999............... 6 734,990.98 .56
Between $130,000 and $139,999............... 9 1,214,558.76 .93
Between $140,000 and $149,999............... 5 726,651.49 .56
Between $150,000 and $159,999............... 5 776,628.70 .60
Between $160,000 and $169,999............... 3 491,380.26 .38
Between $170,000 and $179,999............... 2 350,456.00 .27
Between $180,000 and $189,999............... 2 367,368.97 .28
Between $190,000 and $199,999............... 1 197,859.34 .15
Between $200,000 and $249,999............... 13 2,892,128.54 2.22
Between $250,000 and $299,999............... 6 1,653,210.22 1.27
Between $300,000 and $349,999............... 1 331,401.44 .25
Between $350,000 and $399,999............... 4 1,498,614.54 1.15
Between $400,000 and $449,999............... 3 1,264,199.68 .97
Between $450,000 and $499,999............... 4 1,911,259.19 1.47
Between $500,000 and $549,999............... 1 500,000.00 .38
Between $550,000 and $599,999............... 0 .00 .00
Between $600,000 and $649,999............... 3 1,859,037.57 1.43
Between $650,000 and $699,999............... 0 .00 .00
Between $700,000 and $749,999............... 2 1,446,437.58 1.11
Between $750,000 and $799,999............... 0 .00 .00
Between $800,000 and $849,999............... 0 .00 .00
Between $850,000 and $899,999............... 0 .00 .00
Between $900,000 and $949,999............... 1 905,114.00 .70
Between $950,000 and $999,999............... 0 .00 .00
Over $1,000,000.......................... 5 7,109,337.80 5.46
---------- ----------------- --------
Grand Totals................................. 7,016 $ 130,150,791.14 100.00%
========== ================= ========
</TABLE>
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(1) The largest original Contract amount is $1,900,170.00 which represents 1.46%
of the aggregate principal balance of the Contracts as of the Cut-off Date.
<TABLE>
<CAPTION>
YEAR OF ORIGINATION OF CONTRACTS
Year of Original Scheduled Principal
Contract Loan Count Outstanding Percent
- ------------------------------------------------ ---------- ------------------ --------
<S> <C> <C> <C>
1987........................................ 1 5,862.77 *
1988........................................ 6 19,093.65 .01
1993........................................ 1 1,008.82 *
1995........................................ 1 19,360.65 .01
1996........................................ 9 91,948.96 .07
1997........................................ 6,998 130,013,516.29 99.91
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Grand Totals................................ 7,016 $ 130,150,791.14 100.00%
========== ================== ========
</TABLE>
*Indicates an amount greater than zero but less than .005% of the Principal
Balance of the Subsequent Contracts as of the Cutoff Date.
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 61 704 6,756,060.06 5.19%
From 61 to 65 226 2,675,988.35 2.06
From 66 to 70 275 3,782,556.28 2.91
From 71 to 75 512 7,113,631.69 5.47
From 76 to 80 725 13,244,940.83 10.18
From 81 to 85 1,043 18,985,905.33 14.59
From 86 to 90 2,230 37,372,715.75 28.70
From 91 to 95 669 17,049,720.62 13.10
Over 95 632 23,169,272.23 17.80
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Grand Total 7,016 130,150,791.14 100.00%
===== ============== ========
</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>
From 7.00001 to 8.00000 8 3,589,429.02 2.76%
From 8.00001 to 9.00000 244 20,025,985.50 15.39
From 9.00001 to 10.00000 875 32,262,677.15 24.79
From 10.00001 to 11.00000 1,616 31,783,296.02 24.42
From 11.00001 to 12.00000 982 14,192,948.48 10.90
From 12.00001 to 13.00000 812 10,229,968.50 7.86
From 13.00001 to 14.00000 847 7,580,379.93 5.82
From 14.00001 to 15.00000 615 4,679,779.75 3.60
From 15.00001 to 16.00000 423 2,574,396.89 1.98
From 16.00001 to 17.00000 276 1,548,334.24 1.19
Over 17.00000% 318 1,683,603.66 1.29
----- -------------- --------
Grand Total 7,016 130,150,791.14 100.00%
===== ============== ========
</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 19 45,514.75 .03%
From 15 to 30 331 2,554,746.65 1.96
From 31 to 45 624 8,659,008.94 6.65
From 46 to 60 2,663 42,237,451.76 32.46
From 61 to 75 744 9,568,889.51 7.35
From 76 to 90 581 8,860,172.54 6.81
From 91 to 105 229 2,714,698.04 2.09
From 106 to 120 642 11,024,084.49 8.47
From 121 to 135 1 23,698.36 .02
From 136 to 150 663 12,275,354.73 9.43
From 151 to 165 0 .00 .00
From 166 to 180 471 24,388,371.92 18.74
From 181 to 195 0 .00 .00
From 196 to 210 2 157,895.71 .12
From 210 to 225 0 .00 .00
From 226 to 240 46 7,640,903.74 5.87
From 241 to 255 0 .00 .00
Over 255 0 .00 .00
----- -------------- --------
Grand Total 7,016 130,150,791.14 100.00%
===== ============== ========
</TABLE>
4
