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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-A
-------------------------------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 33-51935 41-1775853
- --------------------------------------------------------------------------------
(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:
SECUTIZED NET INTEREST MARGIN
TRUST 1994-A
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-A
September, 1998
Payment: October 15, 1998
6.90% SECURITIZED NET INTEREST MARGIN CERTIFICATES
Cusip # 393534AA0
----------------
Trust Account # 33-31829-0
----------------
Distribution Date: Oct. 15, 1998
----------------
<TABLE>
<CAPTION>
Per $1,000
Securitized Net Interest Margin Certificates Original
- -------------------------------------------------------- ------------
<S> <C> <C>
1. Amount Available 4,647,914.13
---------------
Interest
2. Aggregate Interest 1,076,468.32 2.11903213
------------------------------
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest
5. Monthly Interest 1,076,468.32
---------------
Principal
6. Current month's principal distribution 3,571,445.81 7.03040514
------------------------------
7. Remaining outstanding principal balance 183,640,436.28 361.4969218
------------------------------
Pool Factor 0.36149692
---------------
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 amount on deposit in reserve funds:
(i) attributable to the Residual Assets 72,805,051.81
---------------
(ii) attributable to this securitization 25,430,650.54
---------------
10. Aggregate principal balance of loans
refinanced by Green Tree Financial 4,101,278.30
---------------
11. Weighted average CPR 16.93%
---------------
12. Weighted average CDR 1.59%
---------------
13. Annualized net loss percentage 0.93%
---------------
14. Delinquency 30-59 day 0.88%
---------------
60-89 day 0.27%
---------------
90+ day 0.46%
---------------
Total 30+ 1.61%
---------------
</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-A
September, 1998
Payment: October 15, 1998
<TABLE>
<CAPTION>
Fee Assets
-------------------------------------------------------------------
Guarantee GNMA Excess Inside Fee Asset
Fees Excess Servicing Refi Total
-------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
MaHCS 1987-A 9,810.58 4,025.93 0.00 13,836.51
MaHCS 1987-B 0.00 0.00 0.00 0.00
MLMI 1987B 0.00 0.00 0.00 0.00
MLMI 1987C 22,621.18 5,163.49 306.87 28,091.54
MLMI 1988E 26,647.16 4,715.67 0.00 31,362.83
MLMI 1988H 0.00 5,169.62 5,169.62
MLMI 1988Q 0.00 7,842.60 7,842.60
MLMI 1988X 0.00 5,927.15 5,927.15
MLMI 1989B 0.00 3,723.46 3,723.46
MLMI 1989D 0.00 7,415.94 7,415.94
MLMI 1989F 44,962.30 10,476.18 0.00 55,438.48
MLMI 1989H 40,536.22 9,422.73 150.10 50,109.05
MLMI 1990B 9,817.99 5,938.92 0.00 15,756.91
MLMI 1990D 29,304.60 8,961.95 2,155.30 40,421.85
MLMI 1990G 42,971.83 10,911.23 2,590.99 56,474.05
MLMI 1990I 0.00 0.00 0.00
MLMI 1991B 0.00 7,979.19 7,979.19
MLMI 1991D 0.00 11,238.58 11,238.58
MLMI 1991G 0.00 16,705.65 16,705.65
MLMI 1991I 0.00 17,607.52 17,607.52
MLMI 1992B 0.00 50,207.86 50,207.86
MLMI 1992D 0.00 31,567.74 31,567.74
GTFC 1992-1 0.00 0.00 3,349.33 3,349.33
GTFC 1992-2 36,204.10 49,175.92 4,271.94 89,651.96
GTFC 1993-1 192,102.10 44,826.05 22,735.02 259,663.17
GTFC 1993-2 200,962.77 87,040.90 35,623.88 323,627.55
GTFC 1993-3 518,656.52 134,063.96 80,192.04 732,912.52
GTFC 1993-4 0.00 154,773.57 154,773.57
------------------------------------------------------------------
Conventional 1,174,597.35 0.00 694,881.81 151,375.47 2,020,854.63
GNMA Servicing Fees 1,620,868.98 81,889.65 1,702,758.63
FHA Payment (550,522.81) (550,522.81)
Servicing (271,136.40) (271,136.40)
Prepayment shortfalls (52,304.80) (52,304.80)
Liquidation Losses (128,523.18) (128,523.18)
---------------------------------------------------------
GNMA 618,381.79 81,889.65 700,271.44
---------------------------------------------------------
Total amount of Guarantee Fees, GNMA Excess Spread, Excess
Serving Fees, and Inside Refinance Payments 2,721,126.07
----------------
Payment on Finance 1 Note 2,721,126.07
----------------
Allocable to Interest (current) 406,918.14
----------------
Allocable to accrued but unpaid Interest 0.00
----------------
Accrued and unpaid Trustee Fees 0.00
----------------
Allocable to Principal 2,314,207.93
----------------
Finance 1 Note Principal Balance 68,454,164.81
----------------
</TABLE>
<PAGE>
Green Tree Financial
Net Interest Margin Trust 1994-A
September, 1998
Payment: October 15, 1998
Inside
Residual Refi Total
-------------------------------------------------------
MaHCS 1987-A 0.00 0.00
MaHCS 1987-B 0.00 0.00
MLMI 1987B 0.00 0.00
MLMI 1987C 0.00 0.00
MLMI 1988E 0.00 0.00
MLMI 1988H 9,162.17 285.40 9,447.57
MLMI 1988Q 8,822.36 0.00 8,822.36
MLMI 1988X 10,369.12 61.04 10,430.16
MLMI 1989B 15,282.46 926.72 16,209.18
MLMI 1989D 0.00 499.59 499.59
MLMI 1989F 0.00 0.00
MLMI 1989H 0.00 0.00
MLMI 1990B 0.00 0.00
MLMI 1990D 0.00 0.00
MLMI 1990G 0.00 0.00
MLMI 1990I 214,829.87 12,371.70 227,201.57
MLMI 1991B 310,353.97 4,177.92 314,531.89
MLMI 1991D 0.00 3,677.66 3,677.66
MLMI 1991G 82,498.95 21,204.84 103,703.79
MLMI 1991I 88,662.96 19,672.42 108,335.38
MLMI 1992B 446,778.70 52,363.34 499,142.04
MLMI 1992D 301,876.00 51,984.77 353,860.77
GTFC 1992-1 0.00 0.00
GTFC 1992-2 0.00 0.00
GTFC 1993-1 0.00 0.00
GTFC 1993-2 0.00 0.00
GTFC 1993-3 0.00 0.00
GTFC 1993-4 212,600.12 58,325.98 270,926.10
-------------------------------------------------------
1,701,236.68 225,551.38 1,926,788.06
Total Residual and Inside
Refinance Payments 1,926,788.06
----------------
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