<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
HOME IMPROVEMENT & HOME EQUITY LOAN TRUST 1997-D
------------------------------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-55853 APPLIED FOR
- -----------------------------------------------------------------------------
(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
-----------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 293-3400
---------------
NOT APPLICABLE
- --------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS.
------------
Pursuant to the Pooling and Servicing Agreement between Green
Tree Financial Corporation (the "Servicer") and First Trust
(N.A.) (the "Trustee"), on December 15, 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 6.05 of the Pooling
and Servicing Agreement attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
---------------------------------
(c) Exhibits.
The following is filed herewith. The exhibit number
corresponds with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on
December 15, 1997.
<PAGE>
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: December 15, 1997
HOME IMPROVEMENT & HOME EQUITY LOAN
TRUST 1997-D
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/ Phyllis A. Knight
----------------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
- ------ ----
99.1 Monthly Report delivered to Certificateholders 5
on December 15, 1997.
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Vice President and Treasurer of Green Tree
Financial Corp., a Minnesota corporation (the "Company"), and that as such he is
duly authorized to execute and deliver this certificate on behalf of the Company
pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of September 1, 1997 between the Company and First Trust
(N.A), as Trustee of Home Improvement & Home Equity Loan Trust 1997-D (all
capitalized terms used herein without definition having the respective meanings
specified in the Agreement), and further certifies that:
1. The Monthly Report for the period from November 1, 1997 to November 30, 1997
attached to this certificate is complete and accurate in accordance with the
requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 10th day of
December, 1997.
GREEN TREE FINANCIAL CORP.
BY: /s/ Phyllis A. Knight
--------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Vice President and Treasurer of Green Tree
Financial Corp., a Minnesota corporation (the "Company"), and that as such he is
duly authorized to execute and deliver this certificate on behalf of the Company
pursuant to Section 8.06 of the Pooling and Servicing Agreement (the
"Agreement") dated as of September 6.81, 1997 between the Company and First
Trust National Association, as Trustee of Home Improvement & Home Equity Loan
Trust 1997-D (all capitalized terms used herein without definition having the
respective meanings specified in the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the Company
on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 10th day of
December, 1997.
GREEN TREE FINANCIAL CORP.
BY: /s/ Phyllis A. Knight
-----------------------------
Phyllis A. Knight
Vice President and Treasurer
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2
WV0 WW8
Trust Account: 3335930-0
CLASS HI: A CERTIFICATES
------------------------
1. (a) Sub-Pool HI Amount Available
(including Monthly Servicing Fee) $4,484,701.07
(b) Class HI: M-1 Interest Deficiency Amount
(if any), Class HI: M-2 Interest Deficiency
Amount (if any) and Class HI: B-1 Interest
Deficiency Amount (if any) withdrawn for prior
Payment Date .00
(c) Sub-Pool HI Amount Available after giving effect to
withdrawal of any Class HI: M-1 Interest Deficiency
Amount, Class HI: M-2 Interest Deficiency Amount and
Class HI: B-1 Interest Deficiency Amount for prior
Payment Date 4,484,701.07
2. Sub-Pool HI: Class A Formula Principal Distribution Amount:
(a) Scheduled Principal 414,803.35
(b) Principal Prepayments 2,643,087.79
(c) Liquidated Contracts .00
(d) Repurchases 171,979.55
(e) Excess Proceeds if any
(first Remittance Date) .00
(f) Previously undistributed
Principal Amounts .00
Total Principal 3,229,870.69
3. Sub-Pool HI Senior Percentage 100%
4. Class HI: B Percentage 100%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 2
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2
WV0 WW8
Trust Account: 3335930-0
CLASS HI: A CERTIFICATES
- ------------------------
INTEREST
5. Aggregate Interest
(a) Class HI: A-1 Pass-through Rate 6.14%
(b) Class HI: A-1 Interest 222,446.63
(c) Class HI: A-2 Pass-through Rate 6.45%
(d) Class HI: A-2 Interest 177,375.00
(e) Class HI: A-3 Pass-through Rate 6.77%
(f) Class HI: A-3 Interest 211,562.50
6. Amount applied to Unpaid Class HI: A Interest Shortfall .00
7. Remaining Unpaid Class HI: A Interest Shortfall .00
PRINCIPAL
8. Class HI: A Principal Distribution:
(a) Class HI: A-1 3,229,870.69
(b) Class HI: A-2 .00
(c) Class HI: A-3 .00
9. Class HI: A Principal Balance:
(a) Class HI: A-1 Principal Balance 40,245,041.11
(b) Class HI: A-2 Principal Balance 33,000,000.00
(c) Class HI: A-3 Principal Balance 37,500,000.00
10. Amount, if any, by which Class HI: A Formula
Distribution Amount exceeds Class HI: A Distribution
Amount .00
CLASS HI: M-1 CERTIFICATES
--------------------------
11. Sub-Pool HI Amount Available less the Class HI:
A Distribution Amount (including Monthly
Servicing Fee) 643,446.25
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 3
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2
WV0 WW8
Trust Account: 3335930-0
INTEREST on Class HI: M-1 Principal Balance less
Class HI: M-1 Liquidation Loss Principal Amount
12. Current Interest
(a) Class HI: M-1 Pass-through Rate 7.16%
(b) Class HI: M-1 Interest 71,600.00
13. Amount applied to Unpaid Class HI: M-1 Interest Shortfall .00
14. Remaining unpaid Class HI: M-1 Interest Shortfall .00
15. Class HI: M-1 Interest Deficiency Amount .00
16. Class HI: M-1 Deficiency Amount unpaid .00
PRINCIPAL
17. Class HI: M-1 Principal Distribution .00
18. Class HI: M-1 Principal Balance 12,000,000.00
19. Amount, if any, by which Class HI: M-1 Formula Distribution
Amount exceeds Class HI: M-1 Distribution Amount .00
20. Sub-Pool HI Amount Available less the Class HI: A
Distribution Amount and Class HI: M-1 Distribution
Amount (including Monthly Servicing Fee) 571,846.25
INTEREST on Class HI: M-2 Principal Balance less
Class HI: M-2 Liquidation Loss Principal Amount
INTEREST
21. Current Interest
(a) Class HI: M-2 Pass-Through Rate 7.23%
(b) Class HI: M-2 Interest 45,187.50
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 4
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2
WV0 WW8
Trust Account: 3335930-0
22. Amount applied to Unpaid Class HI: M-2 Interest Shortfall .00
23. Remaining Unpaid Class HI: M-2 Interest Shortfall .00
24. Class HI: M-2 Interest Deficiency Amount .00
25. Class HI: M-2 Interest Shortfall .00
PRINCIPAL
26. Class HI: M-2 Principal Distribution .00
27. Class HI: M-2 Principal Balance 7,500,000.00
CLASS HI: B PRINCIPAL DISTRIBUTION TESTS
(tests must be satisfied on and after the Payment Date
occurring in October 2000)
28. Sub-Pool HI Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date .11%
(b) Sub-pool HI Average Sixty-Day Delinquency Ratio Test
(arithmetic average of ratios for this month and two
proceding months; may not exceed 2.5%) .06%
29. Sub-Pool HI average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current Payment Date .27%
(b) Sub-pool HI Average Thirty-Day Delinquency Ratio Test
(arithmetic average of ratios for this month and two
proceding months; may not exceed 5%) .15%
30. Sub-Pool HI Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current
Payment Date (as a percentage of Cut-off Date
Pool Principal Balance: may not exceed 10%) .00%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 5
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2 WV0 WW8
Trust Account: 3335930-0
31. Sub-Pool HI Current Realized Losses Test
(a) Current Realized Losses for current
Payment Date .00
(b) Current Realized Loss Ratio (total Realized
Losses for most recent three months, multiplied
By 4, divided by arithmetic average of Pool
Scheduled Principal Balances for third preceding
Remittance and for current Remittance Date; may
not exceed 2.5%) .00%
32. Class HI: B Principal Balance Test
(a) Class HI: B Principal Balance (before any
distributions on current Payment Date) divided
by Pool Scheduled Principal Balance for prior
Payment Date (must equal or exceed 14.0%) 7.29%
CLASS HI: B-1 CERTIFICATES
--------------------------
33. Sub-Pool HI Amount Available less the Class HI: A Distribution
Amount and Class HI: M Distribution Amount (including Monthly
Servicing Fee) 526,658.75
INTEREST on Class HI: B-1 Principal Balance less Class HI: B-1
Liquidation Loss Principal Amount
34. Current Interest
(a) Class HI: B-1 Pass-through Rate 7.22%
(b) Class HI: B-1 Interest 42,868.75
35. Amount applied to Unpaid Class HI: B-1 Interest Shortfall .00
36. Remaining Unpaid Class HI: B-1 Interest Shortfall .00
37. Class HI: B-1 Interest Deficiency Amount .00
38. Class HI: B-1 Interest Deficiency Amount unpaid .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 6
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2 WV0 WW8
Trust Account: 3335930-0
PRINCIPAL
39. Class HI: B-1 Principal Distribution .00
40. Class HI: B-1 Principal Balance 7,125,000.00
41. Amount, if any, by which Class HI: B-1 Formula
Distribution Amount exceeds Class HI: B-1
Distribution Amount .00
CLASS HI: B-2 CERTIFICATES
42. Remaining Sub-Pool HI Amount Available 483,790.00
INTEREST on Class HI: B-2 Principal Balance less
Liquidation Loss Principal Amount
43. Current Interest
(a) Class HI: B-2 Pass-Through Rate 7.54%
(b) Class HI: B-2 Interest 21,206.25
44. Amount applied to Unpaid Class HI: B-2 Interest Shortfall .00
45. Remaining Unpaid Class HI: B-2 Interest Shortfall .00
PRINCIPAL
46. Class HI: B-2 Principal Distribution .00
47. Class HI: B-2 Guaranty Payment .00
48. Class HI: B-2 Principal Balance 3,375,000.00
49. Amount, if any, by which Class HI: B-2 Formula
Distribution Amount plus Class HI: B-2 Liquidation
Loss Principal Amount exceeds Class HI: B-2
Distribution Amount .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 7
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2 WV0 WW8
Trust Account: 3335930-0
Interest on Class HI: M-1,M-2,B-1, and B-2 Liquidation Loss
Principal Amount
50. Class HI: M-1
(a) Class HI: M-1 Liquidation Loss Principal Amount .00
(b) Interest at Class HI: M-1 Pass-through Rate on:
Class HI: M-1 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HI: M-1
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HI: M-1 Liquidation
Loss Interest Shortfall .00
51. Class HI: M-2
(a) Class HI: M-2 Liquidation Loss Principal Amount .00
(b) Interest at Class HI: M-2 Pass-through Rate on:
Class HI: M-2 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HI: M-2
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HI: M-2 Liquidation
Loss Interest Shortfall .00
52. Class HI: B-1
(a) Class HI: B-1 Liquidation Loss Principal Amount .00
(b) Interest at Class HI: B-1 Pass-through Rate on:
Class HI: B-1 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HI: B-1
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HI: B-1 Liquidation
Loss Interest Shortfall .00
53. Class HI: B-2
(a) Class HI: B-2 Liquidation Loss Principal Amount .00
(b) Interest at Class HI: B-2 Pass-through Rate on:
Class HI: B-2 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HI: B-2
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HI: B-2 Liquidation
Loss Interest Shortfall .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 8
Distribution Date: 12/15/97
CUSIP#: 393505 WQ1 WR9 WS7 WT5 WU2 WV0 WW8
Trust Account: 3335930-0
CLASS HI: A, CLASS HI: M, and CLASS HI: B CERTIFICATES
------------------------------------------------------
54. Pool Scheduled Principal Balance of Sub-Pool HI 140,745,041.11
55. Sub-Pool HI Pool Factors
(a) Class HI: A-1 Pool Factor .81303113
(b) Class HI: A-2 Pool Factor 1.00000000
(c) Class HI: A-3 Pool Factor 1.00000000
(d) Class HI: M-1 Pool Factor 1.00000000
(e) Class HI: M-2 Pool Factor 1.00000000
(f) Class HI: B-1 Pool Factor 1.00000000
(g) Class HI: B-2 Pool Factor 1.00000000
56. Home Improvement Contracts Delinquent:
(a) 31-59 days 379,251.34 25
(b) 60-89 days 123,458.78 7
(c) 90 or more days 30,852.33 1
57. Principal Balance of Defaulted Home Improvement Contracts .00
58. Number of Liquidated Home Improvement Contracts and
Net Liquidated Loss 0 .00
59. Number of Home Improvement Contracts Remaining 7731
60. Number and Principal Balance of Home Improvement Contracts
with FHA Claims finally rejected, or no FHA claim was submitted
because FHA insurance was unavailable 0 .00
61. FHA Insurance reserve amount 85,740,492.10
62. Amount received from FHA Insurance .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 9
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
SUB-POOL HE
-----------
1. (a) Sub-Pool HE Amount Available (including
Monthly Servicing Fee) 11,730,304.56
(b) Class HE: M-1 Interest Deficiency Amount
(if any), Class HE: M-2 Interest Deficiency
Amount (if any) and Class HE: B-1 Interest
Deficiency Amount (if any) withdrawn for
Payment Date .00
(c) Sub-Pool HE Amount Available after giving effect
to withdrawal of any, Class HE: M-1 Interest
Deficiency Amount, Class HE: M-2 Interest Deficiency
Amount and Class HE: B-1 Interest Deficiency Amount
for prior Payment Date 11,730,304.56
2. Sub-Pool HE Formula Principal Distribution Amount:
(a) Scheduled Principal 516,545.38
(b) Principal Prepayments 4,482,700.26
(c) Liquidated Contracts .00
(d) Repurchases 165,875.44
(e) Previously undistributed Principal
Amounts .00
(f) Pre-Funded Fixed Rate Amount, if any .00
(g) Less Class HE: A-1 ARM Formula Principal
Distribution Amount .00
Total Principal 5,165,121.08
3. Class HE: A-1 ARM Formula Principal Distribution Amount
(lesser of Class HE: A-1 ARM Principal Balance or sum of (a) - (f))
(a) Scheduled Principal 29,282.30
(b) Principal Prepayments 680,511.36
(c) Liquidated Contracts .00
(d) Repurchases 54,000.00
(e) Pre-Funded ARM Amount, if any .00
(f) Clause (vi) of definition .00
Total Principal 763,793.66
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 10
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
4. Sub-Pool HE Senior Percentage 100%
5. Class HE: B Percentage 100%
CLASS HE: A CERTIFICATES
------------------------
INTEREST
6. Aggregate Interest
(a) Class HE: A-1ARM Pass-Through Rate 5.90750%
(b) Class HE: A-1 Interest 265,587.27
(c) Class HE: A-1 Pass-Through Rate 5.97%
(d) Class HE: A-1 Interest 274,018.62
(e) Class HE: A-2 Pass-Through Rate 6.16%
(f) Class HE: A-2 Interest 215,600.00
(g) Class HE: A-3 Pass-Through Rate 6.39%
(h) Class HE: A-3 Interest 862,650.00
(i) Class HE: A-4 Pass-Through Rate 6.54%
(j) Class HE: A-4 Interest 223,450.00
(k) Class HE: A-5 Pass-Through Rate 6.74%
(l) Class HE: A-5 Interest 387,550.00
(m) Class HE: A-6 Pass-Through Rate 6.95%
(n) Class HE: A-6 Interest 237,458.33
(o) Class HE: A-7 Pass-Through Rate 6.82%
(p) Class HE: A-7 Interest 167,658.33
(q) Class HE: A-81O Pass-Through Rate 7.57%
(r) Class HE: A-81O Interest 186,095.83
7. Amount applied to Unpaid Class HE: A Interest Shortfall .00
8. Remaining Unpaid Class HE: A Interest Shortfall .00
9. Class HE: A-7 Lockout Percentage for such Payment Date 100%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 11
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
10. Class HE: A Principal Distribution:
(a) Class HE: A-1ARM 763,793.66
(b) Class HE: A-6 Lockout Remittance Amount .00
(c) Balance of Sub-Pool HE Senior Percentage of Sub-
Pool HE Formula Principal Distribution Amount:
(i) Class HE: A-1 5,165,121.08
(ii) Class HE: A-2 .00
(iii) Class HE: A-3 .00
(iv) Class HE: A-4 .00
(v) Class HE: A-5 .00
(vi) Class HE: A-6 .00
(vii) Class HE: A-7 .00
11. Class HE: A Principal Balance:
(a) Class HE: A-1ARM Principal Balance 57,038,888.28
(b) Class HE: A-1 Principal Balance 49,913,997.91
(c) Class HE: A-2 Principal Balance 42,000,000.00
(d) Class HE: A-3 Principal Balance 162,000,000.00
(e) Class HE: A-4 Principal Balance 41,000,000.00
(f) Class HE: A-5 Principal Balance 69,000,000.00
(g) Class HE: A-6 Principal Balance 41,000,000.00
(h) Class HE: A-7 Principal Balance 29,500,000.00
CLASS HE: M-1 CERTIFICATES
--------------------------
12. Sub-Pool HE Amount Available less the Class HE:
A Distribution Amount (including Monthly Servicing Fee) 2,981,321.44
INTEREST on Class HE: M-1 Principal Balance less Call HE: M-1
Liquidation Loss Principal Amount
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 12
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
13. Current Interest
(a) Class HE: M-1 Pass-Through Rate 7.30%
(b) Class HE: M-1 Interest 209,875.00
14. Amount applied to Unpaid Class HE: M-1 Interest Shortfall .00
15. Remaining unpaid Class HE: M-1 Interest Shortfall .00
16. Class HE: M-1 Interest Deficiency Amount .00
17. Class HE: M-1 Interest Deficiency Amount .00
PRINCIPAL
18. Class HE: M-1 Principal Distribution .00
19. Class HE: M-1 Principal Balance 34,500,000.00
20. Amount, if any, by which Class HE: M-1 Formula Principal
Distribution Amount exceeds Class HE: M-1 Distribution Amount .00
CLASS HE: M-2 CERTIFICATES
--------------------------
21. Sub-Pool HE Amount Available less the Class HE:
A Distribution Amount and Class HE: M-1 Distribution
Amount (including Monthly Servicing Fee) 2,771,446.44
INTEREST on Class HE: M-2 Principal Balance less Class HE:
M-2 Liquidation Loss Principal Amount
22. Current Interest
(a) Class HE: M-2 Pass-Through Rate 7.45%
(b) Class HE: M-2 Interest 149,000.00
23. Amount applied to Unpaid Class HE: M-2 Interest Shortfall .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 13
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
24. Remaining unpaid Class HE: M-2 Interest Shortfall .00
25. Class HE: M-2 Interest Deficiency Amount .00
26. Class HE: M-2 Interest Deficiency Amount unpaid .00
PRINCIPAL
27. Class HE: M-2 Principal Distribution .00
28. Class HE: M-2 Principal Balance 24,000,000.00
29. Amount, if any, by which Class HE: M-2 Formula
Principal Distribution Amount exceeds Class HE:
M-2 Distribution Amount .00
Class HE: B Principal Distribution Tests
(tests must be satisfied on and after the Payment Date
occurring in July 2000)
30. Sub-Pool HE Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date .80%
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic
average of ratios for this month and two preceding
months; may not exceed 6%) .47%
31. Sub-Pool HE Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current Payment Date 1.77%
(b) Average Thirty-Day Delinquency Ratio Test (arithmetic
average of ratios for this month and two preceding
months; may not exceed 12%) 1.30%
32. Sub-Pool HE Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current Payment Date
(as a percentage of Cut-Off Date Pool Principal
Balance; may not exceed 7.5%) .01%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 14
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
33. Sub-Pool HE Current Realized Losses Test
(a) Current Realized Losses for current Payment Date .00
(b) Current Realized Loss Ratio (total Realized Losses for
most recent three months, multiplied by 4, divided by
arithmetic average of Pool Scheduled Principal Balances
for third preceding Remittance and for current Remittance
Date; may not exceed 2%) .04%
34. Class HE: B Principal Test
(a) Class HE: B Principal Balance (before any distributions
on current Payment Date) divided by Pool Scheduled Principal
Balance for prior Payment Date (must equal or exceed 9%) 4.63%
CLASS HE:B-1 CERTIFICATES
-------------------------
35. Sub-Pool HE Amount Available less the Class HE: A Distribution
Amount and Class HE: M Distribution Amount (including Monthly
Servicing Fee) 2,622,446.44
INTEREST on Class HE: B-1 Principal Balance less Class HE:
B-1 Liquidation Loss Principal Amount
36. Current Interest
(a) Class HE: B-1 Pass-Through Rate 7.41%
(b) Class HE: B-1 Interest 116,707.50
37. Amount applied to Unpaid Class HE: B-1 Interest Shortfall .00
38. Remaining Unpaid Class HE: B-1 Interest Shortfall .00
39. Class HE: B-1 Interest Deficiency Amount .00
40. Class HE: B-1 Interest Deficiency Amount .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 15
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
PRINCIPAL
41. Class HE: B Principal Distribution .00
42. Class HE: B-1 Principal Balance 18,900,000.00
43. Amount, if any, by which Class HE: B-1 Formula
Principal Distribution Amount exceeds Class HE:
B-1 Distribution Amount .00
CLASS HE: B-2 CERTIFICATES
44. Remaining Sub-Pool HE Amount Available 2,505,738.94
INTEREST on Class HE: B-2 Principal Balance less Liquidation
Loss Principal Amount
45. Current Interest
(a) Class HE: B-2 Pass-Through Rate 7.54%
(b) Class HE: B-2 Interest 50,895.00
46. Amount applied to Unpaid Class HE: B-2 Interest Shortfall .00
47. Remaining Unpaid Class HE: B-2 Interest Shortfall .00
PRINCIPAL
48. Class HE: B-2 Principal Distribution .00
49. Class HE: B-2 Guaranty Payment .00
50. Class HE: B-2 Principal Balance 8,100,000.00
51. Amount, if any, on which Class HE: B-2 Formula Distribution
Amount and Class HE: B-2 Liquidation Loss Principal Amount
exceeds Class HE: B-2 Distribution Amount .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 16
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
Interest on Class HE: M-1,M-2,B-1, and B-2 Liquidation Loss
Principal Amount
52. Class HE: M-1
(a) Class HE: M-1 Liquidation Loss Principal Amount .00
(b) Interest at Class HI: M-1 Pass-through Rate on:
Class HE: M-1 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HE: M-1
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HE: M-1 Liquidation
Loss Interest Shortfall .00
53. Class HE: M-2
(a) Class HE: M-2 Liquidation Loss Principal Amount .00
(b) Interest at Class HE: M-2 Pass-through Rate on:
Class HE: M-2 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HE: M-2
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HE: M-2 Liquidation
Loss Interest Shortfall .00
54. Class HE: B-1
(a) Class HE: B-1 Liquidation Loss Principal Amount .00
(b) Interest at Class HE: B-1 Pass-through Rate on:
Class HE: B-1 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HE: B-1
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HE: B-1 Liquidation
Loss Interest Shortfall .00
55. Class HE: B-2
(a) Class HE: B-2 Liquidation Loss Principal Amount .00
(b) Interest at Class HE: B-2 Pass-through Rate on:
Class HE: B-2 Liquidation Loss Principal Amount .00
(c) Amount applied to Unpaid Class HE: B-2
Liquidation Loss Interest Shortfall .00
(d) Remaining Unpaid Class HE: B-2 Liquidation
Loss Interest Shortfall .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 17
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
CLASS HE: A, CLASS HE: M, and CLASS HE: B CERTIFICATES
------------------------------------------------------
56. Pool Scheduled Principal Balance of Sub-Pool HE 576,952,886.19
(a) Fixed Rate Home Equity Contracts 519,913,997.91
(b) Adjustable Rate Home Equity Contracts 57,038,888.28
57. Sub-Pool HE Pool Factors
(a) Class HE: A-1ARM Pool Factor .95064814
(b) Class HE: A-1 Pool Factor .71305711
(c) Class HE: A-2 Pool Factor 1.00000000
(d) Class HE: A-3 Pool Factor 1.00000000
(e) Class HE: A-4 Pool Factor 1.00000000
(f) Class HE: A-5 Pool Factor 1.00000000
(g) Class HE: A-6 Pool Factor 1.00000000
(h) Class HE: A-7 Pool Factor 1.00000000
(i) Class HE: M-1 Pool Factor 1.00000000
(j) Class HE: M-2 Pool Factor 1.00000000
(k) Class HE: B-1 Pool Factor 1.00000000
(l) Class HE: B-2 Pool Factor 1.00000000
58. Home Equity Contracts Delinquent:
Total HE
(a) 31-59 days 9,205,096.13 184
(b) 60-89 days 2,798,761.24 50
(c) 90 or more days 569,188.83 11
Adjustable Rate
(a) 31-59 days 989,202.07 13
(b) 60-89 days .00 0
(c) 90 or more days 61,431.44 1
59. Principal Balance of Defaulted Home Equity Contracts
Total HE Fixed Contracts 662,378.40
Adjustable Rate Contracts 513,596.15
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME IMPROVEMENT & HOME EQUITY LOANS
GREEN TREE TRUST
1997-D
MONTHLY REPORT
NOVEMBER 1997
Page 18
Distribution Date: 12/15/97
CUSIP#: 393505 WN8 WB4 WC2 WD0 WE8 WF5
WG3 WH1 WP3 WJ7 WK4 WL2 WM0
Trust Account: 3335930-0
60. Number of Liquidated Contracts and
Net Liquidated Loss
Total HE Contracts 0 .00
Adjustable Rate Contracts 0 .00
61. Number of Home Equity Contracts Remaining
Total HE Fixed Contracts 10,399
Adjustable Rate Contracts 482
62. Pre-Funded ARM Amount .00
63. Pre-Funded Fixed Rate Amount .00
CLASS C SUBSIDIARY CERTIFICATES
-------------------------------
64. Monthly Servicing Fee 454,285.45
65. Guarantee Fee 1,817,141.78
66. Class C Residual Payment 646,000.46
Please contact the Bondholder Relations Department of First Trust National
Association at (612)973-6700 with any questions regarding this Statement or
your Distribution.
