<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): December 15, 1997
GREEN TREE FINANCIAL CORPORATION
--------------------------------
Delaware 01-08916 41-1807858
- --------------------------------------------------------------------------------
(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
- --------------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 293-3400
--------------------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
--------------------------------
Not applicable.
Item 2. Acquisition or Disposition of Assets.
------------------------------------
Not applicable.
Item 3. Bankruptcy or Receivership.
-------------------------
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
----------------------------------------------
Not applicable.
Item 5. Other Events.
------------
Not applicable.
Item 6. Resignations of Registrant's Directors.
--------------------------------------
Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
<PAGE>
(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 fixed-rate home equity
loan contracts and adjustable rate home equity loan
contracts to be transferred to the trust formed in
connection with the $750,000,000 (Approximate)
Certificates for Home Improvement and Home Equity
Loans, Series 1997-D, issued 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.
GREEN TREE FINANCIAL CORPORATION
By: /s/ Scott T. Young
-----------------------------
Scott T. Young
Vice President and Controller
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NUMBER
- --------------
<C> <S>
99.1 Information with respect to certain fixed-rate home equity
loan contracts and adjustable rate home equity loan contracts
to be transferred to the trust formed in connection with the
$750,000,000 (Approximate) Certificates for Home Improvement
and Home Equity Loans, Series 1997-D, issued by Green Tree
Financial Corporation, as Seller and Servicer.
</TABLE>
<PAGE>
EXHIBIT 99.1
$750,000,000 (APPROXIMATE)
CERTIFICATES FOR HOME IMPROVEMENT AND HOME EQUITY LOANS
SERIES 1997-D
INFORMATION REGARDING CERTAIN SUBSEQUENT CONTRACTS
Set forth below is information regarding fixed-rate home equity loan contracts
and adjustable rate home equity loan contracts transferred to the Trust on the
Closing Date or purchased by the Trust subsequent to the Closing Date with funds
deposited in the Sub-Pool HE Pre-Funding Account. The information below includes
the Initial Contracts described in the Prospectus Supplement dated August 27,
1997, the Additional Contracts transferred to the Trust on the Closing Date and
approximately $150,000,000 of Subsequent Home Equity Contracts purchased on
December 15, 1997. Unless otherwise defined herein, all capitalized terms have
the meanings set forth in the Prospectus Supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
FIXED-RATE
% OF FIXED-RATE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 556 5.18 $ 26,817,273.21 4.97%
Alaska.................. 5 .05 307,844.91 .06
Arizona................. 111 1.03 4,529,759.05 .84
Arkansas................ 55 .51 2,711,494.34 .50
California.............. 236 2.20 13,077,838.47 2.42
Colorado................ 115 1.07 5,826,211.02 1.08
Connecticut............. 178 1.66 9,687,110.34 1.80
Delaware................ 74 .69 3,693,983.10 .68
District of Columbia.... 39 .36 2,651,597.13 .49
Florida................. 728 6.80 34,460,087.80 6.39
Georgia................. 581 5.42 30,140,743.87 5.59
Hawaii.................. 2 .02 58,760.42 .01
Idaho................... 21 .20 638,409.85 .12
Illinois................ 528 4.92 31,194,693.79 5.78
Indiana................. 268 2.50 13,201,652.94 2.45
Iowa.................... 251 2.34 10,700,358.32 1.98
Kansas.................. 127 1.18 5,421,526.46 1.01
Kentucky................ 96 .89 3,949,145.85 .73
Louisiana............... 237 2.21 10,849,495.55 2.01
Maine................... 29 .27 1,728,125.40 .32
Maryland................ 444 4.14 22,984,704.19 4.26
Massachusetts........... 138 1.29 7,795,680.39 1.45
Michigan................ 420 3.92 24,902,533.00 4.62
Minnesota............... 172 1.60 7,624,073.71 1.41
Mississippi............. 133 1.24 5,277,899.89 .98
Missouri................ 439 4.09 18,452,741.89 3.42
Montana................. 10 .09 432,584.31 .08
Nebraska................ 136 1.27 5,620,334.09 1.04
Nevada.................. 40 .37 2,583,090.04 .48
New Hampshire........... 18 .17 986,060.22 .18
New Jersey.............. 236 2.20 12,820,477.18 2.38
New Mexico.............. 24 .22 1,006,871.68 .19
New York................ 425 3.96 23,302,126.23 4.32
North Carolina.......... 683 6.38 33,867,676.29 6.28
North Dakota............ 11 .10 270,526.46 .05
Ohio.................... 887 8.28 41,029,528.79 7.61
Oklahoma................ 72 .67 2,556,766.63 .47
Oregon.................. 56 .52 3,877,279.15 .72
Pennsylvania............ 549 5.12 31,095,479.51 5.76
Rhode Island............ 25 .23 1,036,248.81 .19
South Carolina.......... 367 3.42 16,709,229.45 3.10
South Dakota............ 10 .09 334,212.79 .06
Tennessee............... 186 1.73 10,095,474.28 1.87
Texas................... 127 1.18 4,936,211.78 .92
Utah.................... 48 .45 2,323,260.24 .43
Vermont................. 9 .08 520,218.25 .10
Virginia................ 536 5.00 29,957,207.08 5.55
Washington.............. 143 1.33 7,548,462.53 1.40
West Virginia........... 10 .09 423,387.88 .08
Wisconsin............... 123 1.15 6,631,742.85 1.23
Wyoming................. 13 .12 760,507.20 .14
------ ------ --------------- ------
Total............... 10,727 100.00% $539,408,708.61 100.00%
====== ====== =============== ======
</TABLE>
2
<PAGE>
YEARS OF ORIGINATION--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Year of Origination off Date as of Cut-off Date Cut-off Date
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1974 ................... 1 $ 4,405.53 *%
1975 ................... 3 35,837.01 .01
1976 ................... 7 153,703.50 .03
1977 ................... 3 53,824.12 .01
1978 ................... 5 96,123.10 .02
1979 ................... 5 116,250.14 .02
1980 ................... 1 23,476.89 *
1982 ................... 1 731.59 *
1985 ................... 1 45,178.90 .01
1986 ................... 3 38,490.99 .01
1987 ................... 3 50,706.75 .01
1988 ................... 1 66,000.00 .01
1989 ................... 3 441,402.32 .08
1990 ................... 2 148,129.00 .03
1994 ................... 2 150,315.56 .03
1995 ................... 20 1,386,272.42 .26
1996 ................... 57 2,979,871.27 .55
1997 ................... 10,609 533,617,989.52 98.92
------ --------------- --------
Total.............. 10,727 $539,408,708.61 100.00%
====== =============== ========
</TABLE>
* Indicates an amount greater than zero but less than .5% of the
Outstanding Principal Balance as of Cut of Date.
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--
FIXED RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
Original Contract as of Cut- Balance Outstanding Balance as of
Amount (In Dollars) off Date as of Cut-off Date Cut-off Date
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 9,999...... 71 $ 525,490.88 .10%
Between $ 9,999--
$ 19,999............... 1,986 29,377.795.33 5.45
Between $ 19,999--
$ 29,999............... 1,974 48,092,777.81 8.92
Between $ 29,999--
$ 39,999............... 1,461 50,093.845.18 9.29
Between $ 39,999--
$ 49,999............... 1,218 54,034,989.39 10.01
Between $ 49,999--
$ 59,999............... 889 48,570,215.83 9.00
Between $ 59,999--
$ 69,999............... 754 48,683,787.29 9.02
Between $ 69,999--
$ 79,999............... 567 42,187,974.73 7.82
Between $ 79,999--
$ 89,999............... 416 35,046,129.52 6.50
Between $ 89,999--
$ 99,999............... 297 27,978,473.48 5.19
Between $ 99,999--
$109,999............... 246 25,780,459.15 4.78
Between $109,999--
$119,999............... 202 23,120,223.37 4.29
Between $119,999--
$129,999............... 161 19,955,052.91 3.70
Between $129,999--
$139,999............... 108 14,521,153.58 2.69
Between $139,999--
$149,999............... 81 11,727,139.97 2.17
Between $149,999--
$159,999............... 56 8,673,665.17 1.61
Between $159,999--
$169,999............... 53 8,687,865.51 1.61
Between $169,999--
$179,999............... 39 6,785,608.91 1.26
Between $179,999--
$189,999............... 24 4,382,984.75 .81
Between $189,999--
$199,999............... 22 4,275,655.19 .79
Between $199,999--
$249,999............... 55 11,968,517.67 2.22
Between $249,999--
$299,999............... 27 7,325,184.31 1.36
Greater than $299,999... 20 7,613,718.68 1.41
------ --------------- ------
Total............... 10,727 $539,408,708.61 100.00%
====== =============== ======
</TABLE>
3
<PAGE>
CONTRACT RATES--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
Range of Home Equity as of Cut- Balance Outstanding Balance as of
Contracts by Contract Rate off Date as of Cut-off Date Cut-off Date
- -------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 66 $ 5,976,894.58 1.11%
From 9.01%--10.00%....... 401 34,839,043.98 6.46
From 10.01%--11.00%....... 1,539 127,422,023.40 23.61
From 11.01%--12.00%....... 1,861 114,813,458.23 21.29
From 12.01%--13.00%....... 2,638 123,267,171.09 22.85
From 13.01%--14.00%....... 2,316 82,504,530.01 15.30
From 14.01%--15.00%....... 1,022 30,753,912.97 5.70
From 15.01%--16.00%....... 516 12,109,814.56 2.25
From 16.01%--17.00%....... 237 5,060,519.52 .94
Over 17.01%............... 131 2,661,340.27 .49
------ --------------- ------
Total................. 10,727 $539,408,708.61 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Months Remaining to Contracts Aggregate Principal Outstanding Principal
Scheduled Maturity as of Cut- Balance Outstanding Balance as of
as of Cut-off Date off Date as of Cut-off Date Cut-off Date
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than - Equal
to 180................ 6,244 $266,453,631.43 49.39%
181-195................ 5 408,335.30 .08
196-210................ 4 369,231.28 .07
211-225................ 8 336,571.80 .06
226-240................ 2,940 148,440,873.45 27.52
241-255................ 1 66,000.00 .01
256-270................ 4 398,327.34 .07
271-285................ 3 213,669.97 .04
286-300................ 712 49,818,741.83 9.24
301-315................ 0 .00 .00
316-330................ 3 170,097.62 .03
331-345................ 20 1,496,212.75 .28
346-360................ 783 71,237,015.84 13.21
------ --------------- ------
Total.............. 10,727 $539,408,708.61 100.00%
====== =============== ======
</TABLE>
4
<PAGE>
LIEN POSITION--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
off Date as of Cut-off Date Cut-off Date
---------- ------------------- ------------------------
<S> <C> <C> <C>
Other................... 1 $ 20,236.29 *
First................... 5,532 391,098,641.73 72.51%
Second.................. 5,057 145,771,457.27 27.02
Third................... 137 2,518,373.32 .47
------ ----------------- ------
Total............... 10,727 $ 539,408,708.61 100.00%
====== ================= ======
</TABLE>
* Indicates an amount greater than zero but less than .5% of the
Outstanding Principal Balance as of Cut-of Date.
LOAN-TO-VALUE RATIO--
FIXED-RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Fixed-Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Loan-to-Value Ratio off Date as of Cut-off Date Cut-off Date
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-10.00%..... 15 $ 351,773.28 .07%
From 10.01%-20.00%..... 73 1,534,024.45 .28
From 20.01%-30.00%..... 90 2,362,393.65 .44
From 30.01%-40.00%..... 111 3,875,435.94 .72
From 40.01%-50.00%..... 150 5,153,510.12 .96
From 50.01%-60.00%..... 203 8,598,393.80 1.59
From 60.01%-70.00%..... 547 23,572,675.18 4.37
From 70.01%-80.00%..... 1,396 73,494,978.97 13.63
From 80.01%-90.00%..... 3,767 201,535,007.78 37.36
Over 90.01%............ 4,375 218,930,515.44 40.58
------ --------------- ------
Total.............. 10,727 $539,408,708.61 100.00%
====== =============== ======
</TABLE>
5
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE
% OF ADJUSTABLE HOME EQUITY
HOME EQUITY CONTRACTS BY
CONTRACTS AGGREGATE PRINCIPAL OUTSTANDING
NUMBER OF BY NUMBER OF BALANCE PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OUTSTANDING AS OF BALANCE AS OF
CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
--------------- --------------- ------------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 22 4.35% $ 2,059,980.20 3.44%
Arizona................. 17 3.36 2,137,179.55 3.57
Arkansas................ 2 .40 113,063.87 .19
California.............. 29 5.72 5,143,600.19 8.60
Colorado................ 7 1.38 1,138,793.12 1.90
Connecticut............. 8 1.58 753,634.26 1.26
Delaware................ 5 .99 480,997.31 .80
District of Columbia.... 4 .79 703,310.13 1.17
Florida................. 24 4.74 2,067,369.14 3.45
Georgia................. 35 6.91 4,084,833.48 6.82
Idaho................... 2 .40 118,222.82 .20
Illinois................ 19 3.75 2,201,197.74 3.68
Indiana................. 8 1.58 613,112.09 1.02
Kansas.................. 6 1.19 488,219.67 .82
Kentucky................ 3 .59 321,230.65 .54
Maine................... 3 .59 299,662.54 .50
Maryland................ 23 4.55 3,583,678.61 5.99
Massachusetts........... 10 1.98 1,483,029.42 2.48
Michigan................ 35 6.91 3,381,681.50 5.65
Minnesota............... 6 1.19 842,361.23 1.41
Missouri................ 12 2.37 792,873.53 1.32
Nevada.................. 8 1.58 1,012,303.39 1.69
New Hampshire........... 4 .79 463,543.93 .77
New Jersey.............. 23 4.55 3,646,636.52 6.09
New Mexico.............. 2 .40 198,627.80 .33
New York................ 8 1.58 892,932.65 1.49
North Carolina.......... 24 4.74 2,227,684.29 3.72
Ohio.................... 21 4.15 2,105,893.65 3.52
Oklahoma................ 2 .40 168,005.47 .28
Oregon.................. 6 1.19 636,458.48 1.06
Pennsylvania............ 4 .79 412,019.56 .69
Rhode Island............ 4 .79 348,850.00 .58
South Carolina.......... 8 1.58 634,785.16 1.06
Tennessee............... 6 1.19 598,933.76 1.00
Texas................... 48 9.48 4,981,825.82 8.32
Utah.................... 6 1.19 649,827.56 1.09
Virginia................ 23 4.55 3,673,506.52 6.14
Washington.............. 20 3.95 3,647,316.51 6.09
West Virginia........... 1 .20 29,385.61 .05
Wisconsin............... 8 1.58 729,410.86 1.22
----- ------ --------------- ------
Total............... 506 100.00% $ 59,865,978.59 100.00%
===== ====== =============== ======
</TABLE>
6
<PAGE>
YEARS OF ORIGINATION--
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Year of Origination off Date as of Cut-off Date Cut-off Date
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
1996................. 2 $ 122,207.87 .20%
1997................. 504 59,743,770.72 99.80
----- --------------- ------
Total.............. 506 $59,865,978.59 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS--
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
Original Contract as of Cut- Balance Outstanding Balance as of
Amount (In Dollars) off Date as of Cut-off Date Cut-off Date
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than $ 30,000...... 3 $ 78,635.61 .13%
Between $ 30,000--
$ 39,999............... 18 624,202.49 1.04
Between $ 40,000--
$ 49,999............... 23 1,021,188.21 1.71
Between $ 50,000--
$ 59,999............... 37 2,027,981.23 3.39
Between $ 60,000--
$ 69,999............... 48 3,080,965.18 5.15
Between $ 70,000--
$ 79,999............... 34 2,513,060.94 4.20
Between $ 80,000--
$ 89,999............... 34 2,877,831.92 4.81
Between $ 90,000--
$ 99,999............... 43 4,084,749.93 6.82
Between $100,000--
$109,999............... 45 4,709,789.91 7.87
Between $110,000--
$119,999............... 31 3,550,039.32 5.93
Between $120,000--
$129,999............... 20 2,507,531.04 4.19
Between $130,000--
$139,999............... 29 3,900,806.98 6.52
Between $140,000--
$149,999............... 20 2,884,303.50 4.82
Between $150,000--
$159,999............... 14 2,156,970.46 3.60
Between $160,000--
$169,999............... 17 2,802,430.25 4.68
Between $170,000--
$179,999............... 14 2,435,559.69 4.07
Between $180,000--
$189,999............... 8 1,470,046.76 2.46
Between $190,000--
$199,999............... 10 1,945,032.93 3.25
Between $200,000--
$249,999............... 31 6,766,103.92 11.29
Between $250,000--
$299,999............... 13 3,533,364.32 5.90
Over $299,999........ 14 4,895,384.00 8.17
----- --------------- ------
Total............... 506 $ 59,865,978.59 100.00%
===== =============== ======
</TABLE>
7
<PAGE>
CONTRACT RATES--ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
Range of Home Equity as of Cut- Balance Outstanding Balance as of
Contracts by Contract Rate off Date as of Cut-off Date Cut-off Date
- -------------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-- 9.00%....... 71 $ 9,981,670.96 16.67%
From 9.01%--10.00%....... 150 19,539,643.15 32.64
From 10.01%--11.00%....... 181 21,014,046.65 35.10
From 11.01%--12.00%....... 72 7,067,213.81 11.81
From 12.01%--13.00%....... 27 2,007,580.74 3.35
From 13.01%--14.00%....... 4 226,437.67 .38
From 14.01%--15.00%....... 1 29,385.61 .05
----- --------------- ------
Total................ 506 $ 59,865,978.59 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Months Remaining to Contracts Aggregate Principal Outstanding Principal
Scheduled Maturity as of Cut- Balance Outstanding Balance as of
as of Cut-off Date off Date as of Cut-off Date Cut-off Date
------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 180.......... 4 $ 317,454.17 .53%
180-195................ 0 .00 .00
195-210................ 0 .00 .00
210-225................ 0 .00 .00
225-240................ 0 .00 .00
240-255................ 0 .00 .00
255-270................ 0 .00 .00
270-285................ 0 .00 .00
285-300................ 0 .00 .00
300-315................ 0 .00 .00
315-330................ 0 .00 .00
330-345................ 0 .00 .00
345-360................ 502 59,548,524.42 99.47
----- --------------- ------
Total............. 506 $ 59,865,978.59 100.00%
===== =============== ======
</TABLE>
8
<PAGE>
LIEN POSITION--ADJUSTABLE RATE
HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
off Date as of Cut-off Date Cut-off Date
----------- ------------------ ------------------------
<S> <C> <C> <C>
First................... 505 $ 59,739,978.59 99.79%
Second.................. 1 126,000.00 .21
----- --------------- ------
Total.............. 506 $ 59,865,978.59 100.00%
===== =============== ======
</TABLE>
LOAN-TO-VALUE RATIO
ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% of Adjustable Rate
Number of Home Equity Contracts by
Contracts Aggregate Principal Outstanding Principal
as of Cut- Balance Outstanding Balance as of
Loan-to-Value Ratio off Date as of Cut-off Date Cut-off Date
- ------------------- ---------- ------------------- ------------------------
<S> <C> <C> <C>
From 0.00%-10.00%..... 1 $ 49,570.15 .08%
From 10.01%-20.00%..... 0 .00 .00
From 20.01%-30.00%..... 4 380,930.39 .64
From 30.01%-40.00%..... 4 207,156.90 .35
From 40.01%-50.00%..... 3 113,983.03 .19
From 50.01%-60.00%..... 9 635,480.63 1.06
From 60.01%-70.00%..... 22 1,789,008.19 2.99
From 70.01%-80.00%..... 107 11,472,369.86 19.16
From 80.01%-90.00%..... 333 42,640,745.45 71.23
Over 90.01%............ 23 2,576,733.99 4.30
----- --------------- ------
Total............. 506 $ 59,865,978.59 100.00%
===== =============== ======
</TABLE>
9
<PAGE>
MONTH OF NEXT RATE ADJUSTMENT -- ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MONTH OF NEXT RATE ADJUSTMENT OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------------- -------------- ---------------------- --------------------------
<S> <C> <C> <C>
July 1997................................. 4 $ 430,195.01 .72%
August 1997............................... 3 446,598.22 .75
September 1997............................ 11 1,495,570.87 2.50
October 1997.............................. 29 3,343,114.32 5.58
November 1997............................. 32 3,878,575.72 6.48
December 1997............................. 35 3,438,751.22 5.74
January 1998.............................. 32 3,218,098.90 5.38
February 1998............................. 14 1,649,417.92 2.76
March 1998................................ 1 160,000.00 .27
May 1998.................................. 1 80,852.57 .14
June 1998................................. 4 776,195.00 1.30
December 1998............................. 1 195,000.00 .33
January 1999.............................. 1 129,500.00 .22
February 1999............................. 2 210,231.86 .35
March 1999................................ 29 3,365,113.28 5.62
April 1999................................ 79 8,981,116.66 15.00
May 1999.................................. 73 9,250,185.38 15.44
June 1999................................. 78 9,453,598.07 15.78
July 1999................................. 48 6,344,605.03 10.60
August 1999............................... 11 1,101,658.43 1.84
September 1999............................ 3 298,662.86 .50
October 1999.............................. 1 304,197.29 .51
January 2000.............................. 2 148,997.95 .25
March 2000................................ 1 42,467.05 .07
May 2000.................................. 4 397,234.98 .66
June 2000................................. 4 432,740.00 .72
July 2000................................. 3 293,300.00 .49
-------- --------------- --------
Total................................ 506 $59,865,978.59 100.00%
======== =============== ========
</TABLE>
10
<PAGE>
DISTRIBUTION OF GROSS MARGIN-- ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
GROSS MARGIN OFF DATE AS OF CUT-OFF-DATE CUT-OFF DATE
- ------------ ------------ ------------------ ------------------------
<S> <C> <C> <C>
Less than - Equal
to 3.999% .................... 4 367,598.44 .61%
4.000 to 4.249% .................... 2 203,800.00 .34
4.250 to 4.499% .................... 1 59,600.00 .10
4.500 to 4.749% .................... 2 137,118.69 .23
4.750 to 4.999% .................... 123 14,677,862.47 24.52
5.000 to 5.249% .................... 31 4,231,161.23 7.07
5.250 to 5.499% .................... 62 7,425,797.01 12.40
5.500 to 5.749% .................... 50 6,130,928.53 10.24
5.750 to 5.999% .................... 56 7,131,875.39 11.91
6.000 to 6.249% .................... 33 3,593,725.15 6.00
6.250 to 6.499% .................... 26 2,988,456.28 4.99
6.500 to 6.749% .................... 27 3,441,740.80 5.75
6.750 to 6.999% .................... 28 3,740,806.01 6.25
7.000 to 7.249% .................... 15 1,574,218.92 2.63
7.250 to 7.499% .................... 10 1,045,352.66 1.75
7.500 to 7.749% .................... 14 1,437,421.51 2.40
7.750 to 7.999% .................... 9 790,758.52 1.32
8.000 to 8.249% .................... 4 250,647.89 .42
8.250 to 8.499% .................... 3 285,080.22 .48
8.500 to 8.749% .................... 1 63,719.60 .11
8.750 to 8.999% .................... 1 56,038.20 .09
9.000 to 9.249% .................... 0 .00 .00
9.250 to 9.499% .................... 1 40,000.00 .07
9.500 to 9.749% .................... 1 91,685.46 .15
Over 9.749% .................... 2 100,585.61 .17
----------- ----------------- ------------
506 $ 59,865,978.59 100.00%
=========== ================= ============
</TABLE>
11
<PAGE>
MAXIMUM CONTRACT RATES--ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ------------ --------------------- ---------------------------
<S> <C> <C> <C>
Less than 14.000%........................ 45 $ 5,297,616.97 8.85%
14.000 to 14.249%........................ 6 855,147.99 1.43
14.250 to 14.499%........................ 4 653,612.25 1.09
14.500 to 14.749%........................ 14 2,257,377.69 3.77
14.750 to 14.999%........................ 13 1,867,082.80 3.12
15.000 to 15.249%........................ 13 1,832,401.29 3.06
15.250 to 15.499%........................ 23 4,018,256.87 6.71
15.500 to 15.749%........................ 32 4,695,983.43 7.84
15.750 to 15.999%........................ 50 5,613,529.21 9.38
16.000 to 16.249%........................ 30 3,424,236.35 5.72
16.250 to 16.499%........................ 32 3,970,956.87 6.63
16.500 to 16.749%........................ 48 5,864,363.66 9.80
16.750 to 16.999%........................ 62 6,502,337.35 10.85
17.000 to 17.249%........................ 17 2,299,659.52 3.84
17.250 to 17.499%........................ 27 2,934,213.89 4.90
17.500 to 17.749%........................ 23 1,896,501.46 3.17
17.750 to 17.999%........................ 27 2,834,904.75 4.74
18.000 to 18.249%........................ 9 686,313.69 1.15
18.250 to 18.499%........................ 10 987,973.56 1.65
18.500 to 18.749%........................ 6 394,974.19 .66
18.750 to 18.999%........................ 7 537.512.60 .90
19.000 to 19.249%........................ 2 118,048.20 .20
19.250 to 19.499%........................ 2 145,773.78 .24
19.500 to 19.749%........................ 1 40,000.00 .07
19.750 to 19.999%........................ 1 63,719.60 .11
Over 19.999%............................. 2 73,480.62 .12
------ -------------------- ---------
Total............................ 506 $59,865,978.59 100.00%
====== ==================== =========
</TABLE>
12
<PAGE>
MINIMUM CONTRACT RATES--ADJUSTABLE RATE HOME EQUITY CONTRACTS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF HOME EQUITY CONTRACTS
CONTRACTS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM CONTRACT RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- -------------- ---------------------- ---------------------------
<S> <C> <C> <C>
Less than 7.250%........................... 3 $ 304,150.06 .51%
7.250 to 7.499%............................ 2 343,533.96 .57
7.500 to 7.749%............................ 2 173,328.81 .29
7.750 to 7.999%............................ 0 .00 .00
8.000 to 8.249%............................ 6 1,007,947.99 1.68
8.250 to 8.499%............................ 5 825,974.07 1.38
8.500 to 8.749%............................ 11 1,536,670.21 2.57
8.750 to 8.999%............................ 25 3,165,309.17 5.29
9.000 to 9.249%............................ 29 3,798,255.50 6.34
9.250 to 9.499%............................ 23 3,967,606.62 6.63
9.500 to 9.749%............................ 39 5,333,325.15 8.91
9.750 to 9.999%............................ 69 7,620,300.91 12.74
10.000 to 10.249%........................... 29 3,503,278.98 5.85
10.250 to 10.499%........................... 40 4,795,585.34 8.01
10.500 to 10.749%........................... 52 6,209,841.31 10.37
10.750 to 10.999%........................... 58 6,362,213.13 10.64
11.000 to 11.249%........................... 19 2,398,777.44 4.01
11.250 to 11.499%........................... 19 1,954,186.04 3.26
11.500 to 11.749%........................... 20 2,043,966.91 3.41
11.750 to 11.999%........................... 22 1,929,822.97 3.22
12.000 to 12.249%........................... 7 462,113.36 .77
12.250 to 12.499%........................... 9 785,309.04 1.31
12.500 to 12.749%........................... 6 627,504.04 1.05
12.750 to 12.999%........................... 5 365,154.30 .61
13.000 to 13.249%........................... 2 152,038.20 .25
13.250 to 13.499%........................... 1 86,304.46 .14
13.500 to 13.749%........................... 2 84,095.01 .14
13.750 to 13.999%........................... 0 .00 .00
Over 13.999% 1 29,385.61 .05
------ --------------- -------
Total.................................. 506 $59,865,978.59 100.00%
====== ============== =======
</TABLE>
14
