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Previous: GREEN TREE FINANCIAL CORP, 8-K, 1998-10-27 |
Next: GREEN TREE FINANCIAL CORP, 8-K, 1998-10-27 |
<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): October 15, 1998
GREEN TREE SECURITIZED NET INTEREST MARGIN TRUST 1994-B
-------------------------------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 33-53527 41-1786620
- --------------------------------------------------------------------------------
(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: (651) 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 Bank
National Association (the "Trustee"), on October 15, 1998, 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 1.01 of the 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
October 15, 1998
<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: October 15, 1998
SECUTIZED NET INTEREST MARGIN
TRUST 1994-B
By GREEN TREE FINANCIAL CORPORATION
as Servicer with respect to the Trust
By: /s/Phyllis A. Knight
--------------------
PHYLLIS A. KNIGHT
Senior Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------ ----
99.1 Monthly Report delivered to Certificateholders 5
on October 15, 1998.
<PAGE>
Green Tree Financial Corp.
Net Interest Margin Trust 1994-B
September, 1998
Payment: October 15, 1998
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
Cusip # 393534AB8
-----------------
Trust Account # 33-31958-0
-----------------
Distribution Date: Oct. 15, 1998
-----------------
<TABLE>
<CAPTION>
Per $1,000
Securitized Net Interest Margin Certificates Original
- --------------------------------------------------------------- ---------------
<S> <C> <C>
1. Amount Available 830,258.59
----------------
Interest
2. Aggregate Interest 182,531.16 1.97544545
-------------------------------
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest
5. Monthly Interest 182,531.16
----------------
Principal
6. Current month's principal distribution 647,727.43 7.01003712
-------------------------------
7. Remaining outstanding principal balance 27,255,124.72 294.9688823
-------------------------------
Pool Factor 0.29496888
----------------
8. Present value of the projected remaining aggregate
cashflows of the Finance I Assets and the
Residual Assets, as of the immediately
preceding Distribution Date 477,855,608.49 **
----------------
9. Aggregate principal balance of loans
refinanced by Green Tree Financial 1,701,320.04
----------------
10. Weighted average CPR 14.72%
----------------
11. Weighted average CDR 2.10%
----------------
12. Annualized net loss percentage 1.31%
----------------
13. Delinquency 30-59 day 1.07%
----------------
60-89 day 0.35%
----------------
90+ day 0.56%
----------------
Total 30+ 1.98%
----------------
</TABLE>
First Trust N. A. Paying Agent/Bondholder Relations (612) 973-5800
**Represents present value of assets for NIM 94-A, 94-B, & 95-A, after
cross-collateralization, as of 9/15/98.
<PAGE>
Green Tree Financial
Net Interest Margin Trust 1994-B
September, 1998
Payment: October 15, 1998
Fee Assets
----------------------------------------------------
Guarantee Inside Fee Asset
Fees Refi Total
----------------------------------------------------
GTFC 1994-1 137,967.12 43,484.04 181,451.16
GTFC 1994-2
GTFC 1994-3
GTFC 1994-4
----------------------------------------------------
137,967.12 43,484.04 181,451.16
Total amount of Guarantee Fees and
Inside Refinance Payments 181,451.16
--------------------
Subordinated Servicing Fees 328,361.11
--------------------
Payment on Finance 1 Note 509,812.27
--------------------
Allocable to Interest (current) 27,155.91
--------------------
Allocable to accrued but unpaid Interest 0.00
--------------------
Accrued and unpaid Trustee Fees 0.00
--------------------
Allocable to Principal 482,656.36
--------------------
Finance 1 Note Principal Balance 3,668,566.04
--------------------
<PAGE>
Green Tree Financial
Net Interest Margin Trust 1994-B
September, 1998
Payment: October 15, 1998
Inside
Residual Refi Total
---------------------------------------------------
GTFC 1994-1 0.00 0.00 0.00
GTFC 1994-2 61,332.17 28,739.67 90,071.84
GTFC 1994-3 143,660.72 6,994.57 150,655.29
GTFC 1994-4 50,968.48 28,750.71 79,719.19
---------------------------------------------------
255,961.37 64,484.95 320,446.32
Total Residual and Inside
Refinance Payments 320,446.32
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