<PAGE>
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 2, 1998
GREEN TREE FINANCIAL CORPORATION
as originator of Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificate
Trust 1998-8
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(Exact name of registrant as specified in its charter)
01-08916
Delaware (333-49933/333-63265) 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: (651) 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.
(c) Exhibits.
The following is filed herewith. The exhibit numbers
correspond with Item 601(b) of Regulation S-K.
2
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Exhibit No. Description
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99.1 Information with respect to certain
manufactured housing installment sale
contracts and installment loan agreements
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, 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/ Joel H. Gottesman
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Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
3
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INDEX TO EXHIBITS
Exhibit Number Page
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99.1 Information with respect to certain manufactured
housing installment sale contracts and installment
loan agreements 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, issued
by Green Tree Financial Corporation, as Seller and
Servicer.
<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 transferred to the Trust on
December 3, 1998. The information below includes the Initial Contracts described
in the Prospectus Supplement dated October 28, 1998, as well as the Additional
Contracts transferred to the Trust. Unless otherwise defined herein, all
capitalized terms have the meanings set forth in the Prospectus Supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF INITIAL AND CERTAIN 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................. 1,985 6.63% $ 69,066,936.68 5.88%
Alaska.................. 2 .01 188,589.61 .02
Arizona................. 618 2.06 25,311,562.96 2.15
Arkansas................ 628 2.10 20,640,953.17 1.76
California.............. 770 2.57 31,127,425.60 2.65
Colorado................ 631 2.11 30,086,956.82 2.56
Connecticut............. 15 .05 577,042.71 .05
Delaware................ 161 .54 5,764,617.93 .49
Florida................. 1,697 5.67 72,195,881.19 6.15
Georgia................. 1,734 5.79 67,251,760.05 5.73
Hawaii.................. 1 .00 18,361.74 .00
Idaho................... 160 .53 7,683,935.55 .65
Illinois................ 505 1.69 17,826,071.33 1.52
Indiana................. 782 2.61 31,221,064.48 2.67
Iowa.................... 468 1.56 15,014,751.04 1.28
Kansas.................. 402 1.34 15,579,827.38 1.32
Kentucky................ 756 2.53 25,818,782.29 2.20
Louisiana............... 707 2.36 23,189,645.05 1.97
Maine .................. 241 .80 11,216,021.47 .95
Maryland................ 112 .37 3,768,063.11 .32
Massachusetts........... 24 .08 691,267.23 .06
Michigan................ 1,534 5.12 71,390,167.00 6.08
Minnesota............... 639 2.13 21,319,588.40 1.81
Mississippi............. 718 2.40 24,240,127.64 2.06
Missouri................ 843 2.82 26,633,191.64 2.27
Montana................. 254 .85 10,192,315.83 .87
Nebraska................ 158 .53 5,765,085.08 .49
Nevada.................. 272 .91 12,714,317.80 1.08
New Hampshire........... 171 .57 6,503,911.89 .55
New Jersey.............. 15 .05 658,316.91 .06
New Mexico.............. 623 2.08 27,737,218.64 2.36
New York................ 417 1.39 15,397,077.29 1.31
North Carolina.......... 2,670 8.92 107,549,186.40 9.16
North Dakota............ 137 .46 4,606,931.93 .39
Ohio.................... 685 2.29 27,962,733.28 2.38
Oklahoma................ 737 2.46 26,925,665.13 2.29
Oregon.................. 385 1.29 25,520,312.80 2.17
Pennsylvania............ 430 1.44 15,852,357.47 1.35
Rhode Island............ 2 .01 49,914.65 .00
South Carolina.......... 1,199 4.00 50,347,787.62 4.21
South Dakota............ 234 .78 8,463,617.01 .72
Tennessee............... 891 2.98 30,604,317.53 2.60
Texas................... 2,530 8.45 99,357,880.73 8.46
Utah.................... 107 .36 5,681,427.48 .48
Vermont................. 89 .30 4,254,161.00 .36
Virginia................ 481 1.60 17,533,524.62 1.49
Washington.............. 376 1.26 21,793,930.45 1.85
West Virginia........... 441 1.47 13,814,310.24 1.17
Wisconsin............... 321 1.07 11,344,220.17 .96
Wyoming................. 180 .60 7,349,677.37 .63
U.S. Military Base...... 1 .01 35,614.00 .01
------ ------ ----------------- ------
**Totals................ 29,939 100.00% $1,175,838,405.39 100.00%
====== ====== ================= ======
</TABLE>
2
<PAGE>
YEARS OF ORIGINATION OF INITIAL AND CERTAIN 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>
1984.................... 2 $ 19,545.96 *%
1985.................... 1 6,517.00 *
1986.................... 159 1,369,407.21 .12
1987.................... 342 3,090,397.88 .26
1988.................... 2 33,938.75 .00
1989.................... 2 66,045.17 .01
1990.................... 4 71,431.93 .01
1991.................... 3 73,229.98 .01
1992.................... 6 169,509.64 .01
1993.................... 14 389,785.60 .03
1994.................... 39 1,521,760.87 .13
1995.................... 47 2,065,133.79 .18
1996.................... 58 3,021,086.64 .26
1997.................... 68 4,165,325.95 .35
1998.................... 29,192 1,159,775,289.02 98.63
------ ----------------- -------
Total................ 29,939 $1,175,838,405.39 100.00%
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</TABLE>
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* 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 AND CERTAIN ADDITIONAL 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....... 1,121 $ 8,566,609.63 .73%
Between $10,000 and
$19,999................ 4,474 65,878,252.18 5.60
Between $20,000 and
$29,999................ 6,231 155,528,255.30 13.23
Between $30,000 and
$39,999................ 6,199 213,877,866.25 18.20
Between $40,000 and
$49,999................ 4,082 182,244,010.10 15.50
Between $50,000 and
$59,999................ 3,003 164,579,994.36 14.00
Between $60,000 and
$69,999................ 1,926 124,432,879.99 10.58
Between $70,000 and
$79,999................ 1,128 84,235,476.77 7.16
Between $80,000 and
$89,999................ 696 58,863,501.98 5.01
Between $90,000 and
$99,999................ 464 44,025,835.95 3.74
Between $100,000 and
$109,999............... 246 25,763,354.62 2.19
Between $110,000 and
$119,999............... 154 17,690,911.38 1.50
Between $120,000 and
$129,999............... 89 11,048,994.99 .94
Between $130,000 and
$139,999............... 47 6,289,540.73 .53
Between $140,000 and
$149,999............... 29 4,193,260.15 .36
Between $150,000 and
$159,999............... 20 3,085,065.47 .26
Between $160,000 and
$169,999............... 9 1,490,857.53 .13
Between $170,000 and
$179,999............... 9 1,564,888.30 .13
Between $180,000 and
$189,999............... 4 743,779.13 .06
Between $190,000 and
$199,999............... 1 193,845.54 .02
Between $200,000 and
$249,999............... 7 1,541,225.04 .13
------ ----------------- ------
Total................ 29,939 $1,175,838,405.39 100.00%
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</TABLE>
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(1) The largest original Contract amount is $241,882.46, which
represents .02% of the aggregate principal balance of the Subsequent
Contracts as of the Cut-off Date.
3
<PAGE>
DISTRIBUTION OF ORIGINAL INITIAL AND CERTAIN 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%................ 1,180 $ 34,470,750.38 2.93%
61% to 65%................ 356 11,593,592.82 .99
66% to 70%................ 582 22,949,421.41 1.95
61% to 75%................ 855 33,937,070.77 2.89
61% to 80%................ 2,399 93,119,762.20 7.92
61% to 85%................ 3,032 127,638,147.54 10.86
86% to 90%................ 9,856 402,139,449.37 34.19
91% to 95%................ 8,818 342,380,866.78 29.12
Over 95%................ 2,861 107,609,344.12 9.15
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Total..................... 29,939 $1,175,838,405.39 100.00%
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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 CERTAIN 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%........... 23 $ 1,502,046.53 .13%
5.00001% to 6.00000%....... 108 6,946,536.00 .59
6.00001% to 7.00000%....... 2,271 171,208,502.87 14.56
7.00001% to 8.00000%....... 4,063 228,402,450.66 19.42
8.00001% to 9.00000%....... 4,818 219,467,668.99 18.66
9.00001% to 10.00000%....... 4,989 195,299,375.03 16.61
10.00001% to 11.00000%....... 4,701 160,666,019.89 13.66
11.00001% to 12.00000%....... 4,567 113,539,282.58 9.66
12.00001% to 13.00000%....... 2,983 57,562,068.92 4.90
13.00001% to 14.00000%....... 1,007 17,019,232.00 1.45
14.00001% to 15.00000%....... 38 578,557.39 .05
15.00001% to 16.00000%....... 296 2,915,374.11 .25
16.00001% to 17.00000%....... 75 731,290.42 .06
Over 17.00000% 0 .00 .00
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Total................ 29,939 $1,175,838,405.39 100.00%
====== ================= ======
</TABLE>
INITIAL AND CERTAIN ADDITIONAL REMAINING MONTHS TO MATURITY OF 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................. 25 $ 122,345.20 .01%
31 to 60................. 1,023 8,811,643.11 .75
61 to 90................. 747 10,512,749.03 .89
91 to 120................. 2,046 33,442,422.08 2.84
121 to 150................. 681 14,540,342.31 1.24
151 to 180................. 4,081 98,586,988.60 8.38
181 to 210................. 177 6,173,464.71 .53
211 to 240................. 4,549 146,471,447.18 12.46
241 to 270................. 53 2,423,013.25 .21
271 to 300................. 2,577 92,647,580.40 7.88
301 to 330................. 55 2,846,615.30 .24
331 to 360................. 13,925 759,259,794.22 64.57
------ ----------------- ------
Total..................... 29,939 $1,175,838,405.39 100.00%
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</TABLE>
4
