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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): March 16, 1998
GREEN TREE SECURITIZED NET INTEREST MARGIN TRUST 1994-B
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(Exact name of registrant as specified in its charter)
MINNESOTA 33-53527 41-1786620
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(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
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (612) 293-3400
NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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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 March 16, 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
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99.1 Monthly Report delivered to Certificateholders
on March 16, 1998
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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: March 16, 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
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PHYLLIS A. KNIGHT
Senior Vice President and Treasurer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
- ------- ----
99.1 Monthly Report delivered to Certificateholders 5
on March 16, 1998.
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
FEBRUARY 1998
PAYMENT March 16, 1998
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP#393534AB8
Trust Account #33-31958-0
Distribution Date: March 16, 1998
SECURITIZED NET INTEREST MARGIN PER $1,000
CERTIFICATES ORIGINAL
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1. Amount Available 965,436.10
Interest
2. Aggregate Interest 208,541.30 2.25694048
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest 208,541.30
5. Monthly Interest
Principal
6. Current month's principal
distribution 756,894.80 8.19150216
7. Remaining outstanding principal
balance 31,122,030.37 336.8185105
Pool Factor .33681851
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 541,243,609.12**
9. Aggregate principal balance
of loans refinanced by Green Tree
Financial Corp. 1,945,371.70
10. Weighted average CPR 12.88%
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
FEBRUARY 1998
PAYMENT March 16, 1998
7.85% SECURITIZED NET INTEREST MARGIN CERTIFICATES
Page 2
CUSIP#393534AB8
Trust Account #33-31958-0
Distribution Date: March 16, 1998
11. Weighted average CDR 2.59%
12. Annualized net loss percentage 1.30%
13. Delinquency 30-59 day .80%
60-89 day 0.27%
90+ day 0.55%
Total 30+ 1.62%
First Trust N.A. Paying Agent/Bondholder Relations (612) 973-6700
**Represents present value of assets for NIM 94-A, 94-B, & 95-A, after
cross-collateralization as of 2/15/98.
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
FEBRUARY 1998
PAYMENT March 16, 1998
FEE ASSETS
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GUARANTEE INSIDE FEE ASSET
FEES REFI TOTAL
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GTFC 1994-1 233,192.79 19,307.32 252,500.11
GTFC 1994-2
GTFC 1994-3
GTFC 1994-4
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233,192.79 19,307.32 252,500.11
Total amount of Guarantee Fees and Inside 252,500.11
Refinance Payments
Subordinated Servicing Fees 363,926.62
Payment on Finance 1 Note 616,426.73
Allocable to Interest (current) 48,622.56
Allocable to accrued but unpaid Interest .00
Accrued and unpaid Trustee Fees .00
Allocable to Principal 567,804.17
Finance 1 Note Principal Balance 6,864,943.31
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GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-B
FEBRUARY 1998
PAYMENT March 16, 1998
INSIDE
RESIDUAL REFI TOTAL
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GTFC 1994-1 .00 .00 .00
GTFC 1994-2 98,051.75 36,503.69 134,555.44
GTFC 1994-3 28,701.89 28,701.89
GTFC 1004-4 141,828.02 43,924.02 185,752.04
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239,879.77 109,129.60 349,009.37
Total Residual and Inside
Refinance Payments 349,009.37
