<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 21, 1998
GREEN TREE FINANCIAL CORPORATION
as originator of Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificate
Trust 1998-8
------------------------------------------------------
(Exact name of registrant as specified in its charter)
01-08916
Delaware (333-49933/333-63265) 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: (651) 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.
-------------
On December 21, 1998, the Registrant transferred
$174,160,747 of manufactured housing installment sale
contracts and installment loan agreements (the "Subsequent
Contracts") to the trust formed in connection with the
$1,350,000,000 (approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1998-8
(the "Trust"), pursuant to the pre-funding provisions of the
Pooling and Servicing Agreement dated October 1, 1998. Filed
herewith as Exhibit 99.1 are tables providing information
with respect to the Subsequent Contracts and the Contracts
in the aggregate. Capitalized terms used herein and not
defined have the meaning assigned in the Pooling and
Servicing Agreement.
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.
2
<PAGE>
Not applicable.
(c) Exhibits.
The following is filed herewith. The exhibit numbers
correspond with Item 601(b) of Regulation S-K.
3
<PAGE>
Exhibit No. Description
----------- -----------
99.1 Information regarding $174,160,747 of Subsequent
Contracts to be transferred to the trust formed
in connection with the $1,350,000,000
(Approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates,
Series 1998-8 on December 21, 1998.
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/ Joel H. Gottesman
-----------------------------
Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
4
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Number Page
- -------------- ----
<S> <C> <C>
99.1 Information regarding $174,160,747 of Subsequent Contracts to be Electronically
transferred to the trust formed in connection with the Filed
$1,350,000,000 (Approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1998-8 on
December 21, 1998.
</TABLE>
<PAGE>
EXHIBIT 99.1
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CORTIFICATES
SERIES 1998-8
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements to be transferred to the Trust
on December 21, 1998. The information below includes the Subsequent Contracts
described in the Prospectus Supplement dated October 28, 1998 to the prospectus
date July 22, 1998, as supplemented November 30, 1998. Unless otherwise defined
herein, all capitalized terms have the meanings set forth in the Prospectus
Supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF SUBSEQUENT 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................. 138 4.37% $ 5,158,660.61 2.96%
Arizona................. 31 .98 1,603,946.25 .92
Arkansas................ 54 1.71 2,013,258.20 1.16
California.............. 26 .82 1,061,759.74 .61
Colorado................ 79 2.50 5,021,776.27 2.88
Connecticut............. 2 .06 133,313.14 .08
Delaware................ 9 .29 441,530.61 .25
Florida................. 143 4.53 8,277,929.27 4.75
Georgia................. 184 5.84 9,713,563.41 5.58
Idaho................... 14 .44 892,510.01 .51
Illinois................ 39 1.24 1,513,716.14 .87
Indiana................. 103 3.26 5,953,682.53 3.42
Iowa.................... 15 .48 634,368.15 .36
Kansas.................. 46 1.46 2,084,163.32 1.20
Kentucky................ 97 3.07 5,026,783.34 2.89
Louisiana............... 85 2.69 3,051,183.86 1.75
Maine .................. 60 1.90 3,900,211.63 2.24
Maryland................ 6 .19 257,685.19 .15
Massachusetts........... 2 .06 122,263.14 .07
Michigan................ 205 6.51 13,262,352.34 7.62
Minnesota............... 30 .95 1,336,021.86 .77
Mississippi............. 61 1.93 2,456,482.72 1.41
Missouri................ 85 2.69 3,552,351.62 2.04
Montana................. 8 .25 379,443.04 .22
Nebraska................ 7 .22 476,984.12 .27
Nevada.................. 13 .41 1,181,171.79 .68
New Hampshire........... 15 .48 740,286.10 .43
New Jersey.............. 1 .03 57,008.82 .03
New Mexico.............. 70 2.22 4,382,658.95 2.52
New York................ 91 2.88 6,105,327.98 3.51
North Carolina.......... 498 15.79 31,047,265.45 17.82
North Dakota............ 2 .06 77,030.00 .04
Ohio.................... 68 2.16 4,483,267.68 2.57
Oklahoma................ 92 2.92 3,732,675.19 2.14
Oregon.................. 50 1.58 4,304,032.91 2.47
Pennsylvania............ 35 1.11 2,015,170.77 1.16
South Carolina.......... 188 5.97 9,942,427.15 5.71
South Dakota............ 6 .19 244,750.06 .14
Tennessee............... 100 3.17 4,656,511.07 2.67
Texas................... 218 6.92 10,151,996.09 5.83
Utah.................... 6 .19 361,147.80 .21
Vermont................. 14 .44 1,119,592.40 .64
Virginia................ 34 1.08 1,637,169.66 .94
Washington.............. 73 2.31 7,112,385.29 4.08
West Virginia........... 27 .86 1,236,441.68 .71
Wisconsin............... 12 .38 566,902.26 .33
Wyoming................. 13 .41 679,587.95 .39
------ ------ ----------------- ------
**Totals................ 3,155 100.00% $ 174,160,747.56 100.00%
====== ====== ================= ======
</TABLE>
2
<PAGE>
YEARS OF ORIGINATION OF SUBSEQUENT 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>
1987.................... 2 $ 18,593.42 .01
1988.................... 0 .00 .00
1989.................... 0 .00 .00
1990.................... 1 25,148.83 .01
1991.................... 1 15,680.78 .01
1992.................... 1 8,824.76 .01
1993.................... 1 12,267.02 .01
1994.................... 3 147,824.76 .08
1995.................... 6 375,587.33 .22
1996.................... 9 505,310.77 .29
1997.................... 41 3,595,535.11 2.06
1998.................... 3,090 169,455,975.28 97.30
----- --------------- ------
Total................ 3,115 $174,160,747.56 100.00%
===== =============== ======
</TABLE>
(1) The Contracts shown in the above table with earlier years of origination
primarily represent Contracts originated by the Company and subsequently
refinanced through the Company. The Company retains the first origination
dates on its records with respect to such refinanced Contracts.
DISTRIBUTION OF SUBSEQUENT CONTRACT AMOUNTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (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....... 44 $ 332,151.15 .19%
Between $10,000 and
$19,999................ 158 2,407,669.60 1.38
Between $20,000 and
$29,999................ 388 9,953,500.44 5.72
Between $30,000 and
$39,999................ 505 17,516,652.98 10.06
Between $40,000 and
$49,999................ 407 18,259,741.44 10.48
Between $50,000 and
$59,999................ 418 22,888,673.35 13.14
Between $60,000 and
$69,999................ 328 21,279,463.33 12.22
Between $70,000 and
$79,999................ 314 23,497,174.17 13.49
Between $80,000 and
$89,999................ 232 19,610,255.49 11.26
Between $90,000 and
$99,999................ 157 14,906,215.29 8.56
Between $100,000 and
$109,999............... 103 10,748,948.84 6.17
Between $110,000 and
$119,999............... 37 4,243,421.84 2.44
Between $120,000 and
$129,999............... 36 4,459,826.29 2.56
Between $130,000 and
$139,999............... 17 2,288,717.64 1.31
Between $140,000 and
$149,999............... 6 865,719.65 .50
Between $150,000 and
$159,999............... 1 157,018.16 .09
Between $160,000 and
$169,999............... 1 162,019.94 .09
Between $170,000 and
$179,999............... 0 .00 .00
Between $180,000 and
$189,999............... 1 183,763.89 .11
Between $190,000 and
$199,999............... 1 194,628.97 .11
Between $200,000 and
$249,999............... 1 205,185.10 .12
----- --------------- ------
Total................ 3,115 $174,160,747.56 100.00%
===== =============== ======
</TABLE>
- --------
(1) The largest original Contract amount is $205,299.57, which
represents .12% of the aggregate principal balance of the Subsequent
Contracts as of the Cut-off Date.
3
<PAGE>
DISTRIBUTION OF SUBSEQUENT
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%................ 133 $ 6,303,064.60 3.62%
61% to 65%................ 38 1,793,059.89 1.03
66% to 70%................ 73 4,313,372.07 2.48
61% to 75%................ 107 6,706,039.34 3.85
61% to 80%................ 266 14,862,608.28 8.53
61% to 85%................ 386 22,922,963.33 13.16
86% to 90%................ 1,121 62,652,709.75 35.98
91% to 95%................ 924 49,166,181.47 28.23
Over 95%................ 107 5,440,748.83 3.12
----- --------------- ------
Total..................... 3,155 $174,160,747.56 100.00%
===== =============== ======
</TABLE>
- --------
(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
SUBSEQUENT 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%........... 2 $ 155,338.79 .09%
5.00001% to 6.00000%....... 28 2,326,465.31 1.34
6.00001% to 7.00000%....... 735 57,779,333.58 33.17
7.00001% to 8.00000%....... 450 30,065,753.34 17.26
8.00001% to 9.00000%....... 593 34,163,354.00 19.62
9.00001% to 10.00000%....... 466 21,371,405.94 12.27
10.00001% to 11.00000%....... 469 17,286,153.73 9.93
11.00001% to 12.00000%....... 271 8,173,016.27 4.69
12.00001% to 13.00000%....... 91 2,110,025.39 1.21
13.00001% to 14.00000%....... 37 610,202.04 .35
14.00001% to 15.00000%....... 0 .00 .00
15.00001% to 16.00000%....... 11 100,947.32 .06
16.00001% to 17.00000%....... 2 18,751.85 .01
Over 17.00000% 0 .00 .00
----- --------------- ------
Total................ 3,155 $174,160,747.56 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY OF SUBSEQUENT 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................. 0 $ 0.00 .00%
31 to 60................. 33 362,186.29 .21
61 to 90................. 40 609,616.65 .35
91 to 120................. 90 1,830,752.64 1.05
121 to 150................. 20 420,021.27 .24
151 to 180................. 205 6,050,287.71 3.47
181 to 210................. 3 94,352.02 .05
211 to 240................. 326 11,523,345.61 6.62
241 to 270................. 5 248,417.37 .14
271 to 300................. 174 6,806,877.43 3.91
301 to 330................. 4 240,325.82 .14
331 to 360................. 2,255 145,974,564.75 83.82
----- --------------- ------
Total..................... 3,115 $174,160,747.56 100.00%
===== =============== ======
</TABLE>
4
<PAGE>
Set forth below is information regarding the combined pool of Initial,
Additional and Subsequent Contracts transferred to the Trust on December 3, 1998
and December 21, 1998. Unless otherwise defined herein, all capitalized terms
have the meanings set forth in the Prospectus Supplement.
5
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF INITIAL, ADDITIONAL AND
SUBSEQUENT 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................. 2,127 6.43% $ 74,342,370.12 5.51%
Alaska.................. 2 0.01 188,589.61 0.01
Arizona................. 649 1.96 26,837,007.17 1.99
Arkansas................ 683 2.06 22,710,451.07 1.68
California.............. 794 2.40 32,170,216.18 2.38
Colorado................ 711 2.15 35,092,434.62 2.60
Connecticut............. 17 0.05 710,355.85 0.05
Delaware................ 170 0.51 6,241,728.36 0.46
Florida................. 1,836 5.55 80,309,589.72 5.95
Georgia................. 1,919 5.80 76,975,977.87 5.70
Hawaii.................. 1 0.00 18,361.74 0.00
Idaho................... 174 0.53 8,572,894.54 0.64
Illinois................ 539 1.63 19,247,332.88 1.43
Indiana................. 885 2.67 37,211,868.06 2.76
Iowa.................... 483 1.46 15,649,119.19 1.16
Kansas.................. 447 1.35 17,648,271,83 1.31
Kentucky................ 855 2.58 30,959,450.99 2.29
Louisiana............... 791 2.39 26,235,747.91 1.94
Maine .................. 301 0.91 15,070,247.34 1.12
Maryland................ 116 0.35 3,986,143.64 0.30
Massachusetts........... 26 0.08 813,530.37 0.06
Michigan................ 1,732 5.23 84,016,643.41 6.22
Minnesota............... 674 2.04 22,817,151.31 1.69
Mississippi............. 782 2.36 26,789,681.64 1.98
Missouri................ 929 2.81 30,253,412.33 2.24
Montana................. 262 0.79 10,561,842.34 0.78
Nebraska................ 166 0.50 6,320,950.92 0.47
Nevada.................. 287 0.87 14,116,230.43 1.05
New Hampshire........... 187 0.57 7,394,734.35 0.55
New Jersey.............. 12 0.04 545,661.11 0.04
New Mexico.............. 693 2.09 32,036,048.82 2.37
New York................ 504 1.52 21,374,637.16 1.58
North Carolina.......... 3,172 9.58 138,820,630.00 10.28
North Dakota............ 139 0.42 4,709,886.02 0.35
Ohio.................... 752 2.27 32,276,098.81 2.39
Oklahoma................ 829 2.50 30,624,191.96 2.27
Oregon.................. 433 1.31 29,417,472.65 2.18
Pennsylvania............ 465 1.41 17,968,921.55 1.33
Rhode Island............ 2 0.01 49,914.65 0.00
South Carolina.......... 1,391 4.20 60,413,273.30 4.48
South Dakota............ 240 0.73 8,708,367.07 0.65
Tennessee............... 991 2.99 35,197,572.99 2.61
Texas................... 2,750 8.31 109,804,905.90 8.13
Utah.................... 113 0.34 6,095,880.70 0.45
Vermont................. 102 0.31 5,269,202.80 0.39
Virginia................ 514 1.55 19,135,368.14 1.42
Washington.............. 449 1.36 29,133,834.09 2.16
West Virginia........... 471 1.42 15,163,820.03 1.12
Wisconsin............... 333 1.01 11,840,566.92 0.88
Wyoming................. 194 0.59 8,150,562.49 0.60
------ ------ ----------------- ------
**Totals................ 33,094 100.00% $1,349,999,152.95 100.00%
====== ====== ================= ======
</TABLE>
6
<PAGE>
YEARS OF ORIGINATION OF INITIAL, ADDITIONAL AND SUBSEQUENT 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>
1984.................... 2 $ 19,545.96 *
1985.................... 1 6,517.00 *
1986.................... 159 1,369,407.21 .10
1987.................... 344 3,108,991.30 .23
1988.................... 2 33,938.75 .00
1989.................... 1 15,023.17 *
1990.................... 5 96,580.76 .01
1991.................... 4 88,910.76 .01
1992.................... 7 178,333.90 .01
1993.................... 15 402,052.62 .03
1994.................... 42 1,669,585.63 .12
1995.................... 53 2,440,721.12 .18
1996.................... 67 3,526,397.41 .26
1997.................... 109 7,760,861.06 .58
1998.................... 32,283 1,329,282,286.30 98.48
------ ----------------- ------
Total................ 33,094 $1,349,999,152.95 100.00%
====== ================= ======
</TABLE>
* Indicates an amount greater than zero but less than .05%.
(1) The Contracts shown in the above table with earlier years of origination
primarily represent Contracts originated by the Company and subsequently
refinanced through the Company. The Company retains the first origination
dates on its records with respect to such refinanced Contracts.
DISTRIBUTION OF ORIGINAL INITIAL,
ADDITIONAL AND SUBSEQUENT CONTRACT AMOUNTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (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....... 1,165 $ 8,898,760.78 .66%
Between $10,000 and
$19,999................ 4,632 68,285,921.78 5.06
Between $20,000 and
$29,999................ 6,619 165,481,755.74 12.26
Between $30,000 and
$39,999................ 6,704 231,394,519.23 17.14
Between $40,000 and
$49,999................ 4,489 200,503,751.54 14.85
Between $50,000 and
$59,999................ 3,421 187,468,667.71 13.89
Between $60,000 and
$69,999................ 2,254 145,712,343.32 10.79
Between $70,000 and
$79,999................ 1,442 107,732,650.94 7.98
Between $80,000 and
$89,999................ 928 78,473,757.47 5.81
Between $90,000 and
$99,999................ 621 58,932,051.24 4.37
Between $100,000 and
$109,999............... 349 36,512,303.46 2.70
Between $110,000 and
$119,999............... 191 21,934,333.22 1.62
Between $120,000 and
$129,999............... 125 15,508,821.28 1.15
Between $130,000 and
$139,999............... 64 8,578,258.37 .64
Between $140,000 and
$149,999............... 35 5,058,979.80 .37
Between $150,000 and
$159,999............... 21 3,242,083.63 .24
Between $160,000 and
$169,999............... 10 1,652,877.47 .12
Between $170,000 and
$179,999............... 9 1,564 888.30 .12
Between $180,000 and
$189,999............... 5 927,543.02 .07
Between $190,000 and
$199,999............... 2 388,474.51 .03
Between $200,000 and
$249,999............... 8 1,746,410.14 .13
------ ----------------- ------
Total................ 33,094 $1,349,999,152.95 100.00%
====== ================= ======
</TABLE>
- --------
(1) The largest original Contract amount is $241,882.46, which represents .02%
of the aggregate principal balance of the Initial, Additional and Subsequent
Contracts as of the Cut-off Date.
7
<PAGE>
DISTRIBUTION OF ORIGINAL INITIAL, ADDITIONAL
AND SUBSEQUENT 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%................ 1,313 $ 40,773,814.98 3.02%
61% to 65%................ 394 13,386,652.71 .99
66% to 70%................ 655 27,262,793.48 2.02
61% to 75%................ 962 40,643,110.11 3.01
61% to 80%................ 2,665 107,982,370.48 8.00
61% to 85%................ 3,418 150,561,110.87 11.15
86% to 90%................ 10,977 464,792,159.12 34.44
91% to 95%................ 9,742 391,547,048.25 29.00
Over 95%................ 2,968 113,050,092.95 8.37
------ ----------------- ------
Total..................... 33,094 $1,349,999,152.95 100.00%
====== ================= ======
</TABLE>
- --------
(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
INITIAL, ADDITIONAL AND SUBSEQUENT 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%........... 25 $ 1,657,385.32 .12%
5.00001% to 6.00000%....... 136 9,273,001.31 .69
6.00001% to 7.00000%....... 3,006 228,987,836.45 16.96
7.00001% to 8.00000%....... 4,513 258,468,204.00 19.14
8.00001% to 9.00000%....... 5,411 253,631,022.99 18.79
9.00001% to 10.00000%....... 5,455 216,670,780.97 16.05
10.00001% to 11.00000%....... 5,170 177,952,173.62 13.18
11.00001% to 12.00000%....... 4,838 121,712,298.85 9.02
12.00001% to 13.00000%....... 3,074 59,672,094.31 4.42
13.00001% to 14.00000%....... 1,044 17,629,434.04 1.31
14.00001% to 15.00000%....... 38 578,557.39 .04
15.00001% to 16.00000%....... 307 3,016,321.43 .22
16.00001% to 17.00000%....... 77 750,042.27 .06
Over 17.00000% 0 .00 .00
------ ----------------- ------
Total................ 33,094 $1,349,999,152.95 100.00%
====== ================= ======
</TABLE>
REMAINING MONTHS TO MATURITY OF INITIAL, ADDITIONAL AND SUBSEQUENT 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................. 24 $ 116,101.92 0.01%
31 to 60................. 1,057 9,180,072.68 0.68
61 to 90................. 787 11,128,916.02 0.82
91 to 120................. 2,137 35,295,395.98 2.61
121 to 150................. 702 14,981,553.01 1.11
151 to 180................. 4,284 104,587,315.28 7.75
181 to 210................. 180 6,267,816.73 0.46
211 to 240................. 4,876 158,038,590.51 11.71
241 to 270................. 57 2,627,632.90 0.19
271 to 300................. 2,751 99,454,457.83 7.37
301 to 330................. 58 2,991,881.32 0.22
331 to 360................. 16,181 905,329,418.77 67.07
------ ----------------- ------
Total..................... 33,094 $1,349,999,152.95 100.00%
====== ================= ======
</TABLE>
8
