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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): December 19, 1997
GREEN TREE FINANCIAL CORPORATION
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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.
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(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
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99.1 Information with respect to manufactured housing
installment sale contracts and installment loan
agreements to be transferred to the trust formed
in connection with the $850,000,000
(Approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates,
Series 1997-8, 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
/s/ Scott T. Young
By: ________________________________
Scott T. Young
Vice President and Controller
3
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INDEX TO EXHIBITS
Exhibit Number Page
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99.1 Information with respect to manufactured housing
installment sale contracts and installment loan agreements
to be transferred to the trust formed in connection with
the $850,000,000 (Approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1997-8,
issued by Green Tree Financial Corporation, as Seller and Servicer.
4
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EXHIBIT 99.1
$850,000,000 (APPROXIMATE)
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1997-8
INFORMATION REGARDING CERTAIN SUBSEQUENT CONTRACTS
Set forth below is information regarding manufactured housing installment
sales contracts and installment loan agreements transferred to the Trust on the
Closing Date. The information below includes the Initial Contracts described in
the Prospectus Supplement dated December 3, 1997 and the Additional Contracts
transferred to the Trust on the Closing Date. There will be no Subsequent
Contracts transferred to the Trust after the Closing Date. Unless otherwise
defined herein, all capitalized terms have the meanings set forth in the
Prospectus Supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF INITIAL AND ADDITIONAL CONTRACT OBLIGORS
<TABLE>
<CAPTION>
AGGREGATE % OF CONTRACT
PRINCIPAL POOL BY
% OF CONTRACT BALANCE OUTSTANDING
NUMBER OF POOL BY NUMBER OF OUTSTANDING PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OF AS OF CUT- BALANCE AS OF
CUT-OFF DATE CUT-OFF DATE OFF DATE CUT-OFF DATE
--------------- ----------------- --------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 1,201 5.63% $ 38,551,264.94 4.54%
Alaska.................. 1 * 76,056.00 .01
Arizona................. 426 2.00 18,113,121.04 2.13
Arkansas................ 479 2.25 14,602,120.90 1.72
California.............. 479 2.25 18,951,130.41 2.23
Colorado................ 560 2.63 28,545,237.30 3.36
Connecticut............. 11 .05 317,163.28 .04
Delaware................ 94 .44 4,416,903.44 .52
Florida................. 1,340 6.29 58,383,746.46 6.86
Georgia................. 1,244 5.84 46,128,525.86 5.43
Idaho................... 121 .57 6,285,404.15 .74
Illinois................ 344 1.61 12,237,577.25 1.44
Indiana................. 545 2.56 22,602,178.31 2.66
Iowa.................... 272 1.28 9,217,993.74 1.08
Kansas.................. 267 1.25 9,760,069.65 1.15
Kentucky................ 592 2.78 21,109,497.35 2.48
Louisiana............... 467 2.19 14,967,525.86 1.76
Maine .................. 202 .95 10,161,802.73 1.20
Maryland................ 101 .47 3,265,089.33 .38
Massachusetts........... 16 .08 613,387.14 .07
Michigan................ 1,300 6.10 61,114,265.25 7.18
Minnesota............... 366 1.72 12,049,386.85 1.42
Mississippi............. 597 2.03 13,907,569.12 1.64
Missouri................ 433 2.80 18,946,580.42 2.23
Montana................. 163 .76 6,898.870.65 .81
Nebraska................ 116 .54 4,921,638.17 .58
Nevada.................. 202 .95 11,305,603.60 1.33
New Hampshire........... 140 .66 5,230,629.09 .62
New Jersey.............. 5 .02 213,584.23 .03
New Mexico.............. 534 2.51 24,072,478.64 2.83
New York................ 316 1.48 12,324,660.60 1.45
North Carolina.......... 1,931 9.05 82,030,158.86 9.64
North Dakota............ 104 .49 3,728,171.16 .44
Ohio.................... 605 2.84 26,545,629.13 3.12
Oklahoma................ 414 1.94 14,366,665.42 1.69
Oregon.................. 218 1.02 14,066,742.72 1.65
Pennsylvania............ 347 1.63 14,782,719.76 1.74
South Carolina.......... 816 3.83 34,044,501.05 4.01
South Dakota............ 155 .73 5,661,224.12 .67
Tennessee............... 659 3.09 21,953,270.67 2.58
Texas................... 1,539 7.21 56,247,811.61 6.62
U.S. Military Base...... 1 * 23,135.70 *
Utah.................... 123 .58 6,747,972.48 .79
Vermont................. 66 .31 3,137,529.89 .37
Virginia................ 363 1.70 12,296,111.00 1.45
Washington.............. 302 1.42 16,108,074.33 1.90
West Virginia........... 226 1.06 7,555,309.13 .89
Wisconsin............... 353 1.66 13,261,772.14 1.56
Wyoming................. 160 .75 8,151,262.98 .96
------ ------ --------------- ------
Total....................... 21,316 100.00% $849,999,123.91 100.00%
====== ====== =============== ======
</TABLE>
* Indicates an amount greater than zero but less than .5% of the Outstanding
Principal Balance as of Cut-off Date.
2
<PAGE>
YEARS OF ORIGINATION OF INITIAL AND ADDITIONAL CONTRACTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION(1) AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
1983........... 3 $ 43,358.37 .01%
1984........... 3 22,522.48 *
1985........... 7 60,958.59 .01
1986........... 5 51,548,35 .01
1987........... 2 16,708.71 *
1988........... 11 151,816.99 .02
1989........... 22 387,061.09 .05
1990........... 11 217,240.40 .03
1991........... 24 493,043.83 .06
1992........... 34 734,831.17 .09
1993........... 26 633,168.85 .07
1994........... 96 2,596,368.23 .31
1995........... 92 2,933,290.37 .34
1996........... 159 6,292,900.61 .73
1997........... 20,821 835,364,305.87 98.27
------ --------------- ------
Total................ 21,316 $849,999,123.91 100.00%
====== =============== ======
</TABLE>
* Indicates an amount greater than zero but less than .5% of the Outstanding
Prinicipal Balance as of Cut-off Date.
DISTRIBUTION OF INITIAL AND ADDITIONAL CONTRACT AMOUNTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
RIGINAL CONTRACTO NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
AMONT (IN DOLLARS)(1)U AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000....... 909 $ 6,955,234.22 .82%
Between $10,000 and
$19,999................ 3,355 51,116,085.57 6.01
Between $20,000 and
$29,999................ 4,572 114,807,790.87 13.51
Between $30,000 and
$39,999................ 3,932 136,131,993.26 16.02
Between $40,000 and
$49,999................ 2,591 115,957,254.38 13.64
Between $50,000 and
$59,999................ 2,064 112,813,885.87 13.27
Between $60,000 and
$69,999................ 1,425 91,980,957.27 10.82
Between $70,000 and
$79,999................ 928 69,382,894.57 8.16
Between $80,000 and
$89,999................ 620 52,524,174.82 6.18
Between $90,000 and
$99,999................ 450 42,737,949.00 5.03
Between $100,000 and
$109,999............... 207 21,636,143.21 2.55
Between $110,000 and
$119,999............... 113 12,999,661.18 1.53
Between $120,000 and
$129,999............... 64 7,967,236.53 .94
Between $130,000 and
$139,999............... 38 5,102,055.43 .60
Between $140,000 and
$149,999............... 20 2,888,732.92 .34
Between $150,000 and
$159,999............... 8 1,232,241.79 .14
Between $160,000 and
$169,999............... 8 1,332,375.01 .16
Between $170,000 and
$179,999............... 3 528,649.13 .06
Between $180,000 and
$189,999............... 3 546,702.94 .06
Between $190,000 and
$199,999............... 1 194,130.67 .02
Between $200,000 and
$249,999............... 4 901,324.86 .11
Between $250,000 and
$299,999............... 1 261,650.41 .03
------ --------------- ------
Total................ 21,316 $849,999,123.91 100.00%
====== =============== ======
</TABLE>
3
<PAGE>
DISTRIBUTION OF INITIAL AND ADDITIONAL LOAN-TO-VALUE RATIOS OF CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
LOAN-TO-VALUE RATIO (1) AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
- ----------------------- ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 61%........... 910 $ 28,522,769.04 3.36%
61% to 65%.............. 318 12,835,116.70 1.51
66% to 70%.............. 432 17,920,630.38 2.11
71% to 75%.............. 645 28,791,666.18 3.39
76% to 80%.............. 1,879 73,593,884.41 8.66
81% to 85%.............. 2,472 105,675,364.61 12.43
86% to 90%.............. 7,088 296,418,488.03 34.86
91% to 95%.............. 6,709 256,154,633.71 30.14
Over 95%................ 863 30,086,570.85 3.54
------ --------------- ------
Total................ 21,316 $849,999,123.91 100.00%
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</TABLE>
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(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
INITIAL AND ADDITIONAL CONTRACT RATES
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
RANGE OF CONTRACTS BY NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
CONTRACT RATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
--------------------- ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 5.00001%........... 4 $ 248,352.47 .03%
From 5.00001% to 6.00000%.. 49 2,871,997.25 .34
From 6.00001% to 7.00000%.. 871 65,702,349.36 7.73
From 7.00001% to 8.00000%.. 1,816 119,032,146.74 14.00
From 8.00001% to 9.00000%.. 3,291 176,571,305.04 20.76
From 9.00001% to 10.00000%.. 3,610 158,273,990.93 18.62
From 10.00001% to 11.00000%.. 3,900 141,913,317.50 16.70
From 11.00001% to 12.00000%.. 3,855 112,472,954.27 13.23
From 12.00001% to 13.00000%.. 2,097 44,540,764.15 5.24
From 13.00001% to 14.00000%.. 1,460 24,537,148.03 2.89
From 14.00001% to 15.00000%.. 75 1,081,629.20 .13
From 15.00001% to 16.00000%.. 247 2,350,783.08 .28
From 16.00001% to 17.00000%.. 41 402,385.89 .05
Over 17.00000%............... 0 .00 .00
------ --------------- ------
Total................ 21,316 $849,999,123.91 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY OF INITIAL AND ADDITIONAL CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
MONTHS REMAINING NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
AS OF CUT-OFF DATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
------------------ ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 31............ 22 $ 136,688.10 .02%
31 to 60................ 501 4,408,656.58 .52
61 to 90................ 605 8,163,399.56 .96
91 to 120............... 1,475 23,511,025.11 2.77
121 to 150.............. 550 11,097,560.63 1.31
151 to 180.............. 3,182 75,093,465.37 8.83
181 to 210.............. 151 5,209,198.54 .61
211 to 240.............. 3,564 114,712,658.14 13.50
241 to 270.............. 35 1,527,633.10 .18
271 to 300.............. 1,773 63,438,484.18 7.46
301 to 330.............. 13 571,348.29 .07
331 to 360.............. 9,445 542,129,006.31 63.77
------ ----------------- ------
Total................ 21,316 $849,999,123.91 100.00%
====== ================= ======
</TABLE>
* Indicates an amount greater than zero but less than .5% of the Original
Principal Balance as of Cut-Off Date.
4
