<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): JANUARY 15, 1998
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
------------------------------------------------
PASS-THROUGH CERTIFICATE TRUST 1997-6
-------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 33-55855 APPLIED FOR
---------------------------------------------------------------------------
(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: (612) 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 Firstar Trust Company (the
"Trustee"), on January 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 6.02 of the Pooling and
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
January 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: January 15, 1998
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH
CERTIFICATE TRUST 1997-6
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 January 15, 1998.
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Senior Vice President and Treasurer of
Green Tree Financial Corp., a Delaware corporation (the "Company"), and that as
such she is duly authorized to execute and deliver this certificate on behalf of
the Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated September 1, 1997, (97-6), between the Company and Firstar
Bank, Minnesota, National Association, as Trustee (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from December 1, 1997 to December 31, 1997
attached to this certificate is complete and accurate in accordance with the
requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
January, 1998.
GREEN TREE FINANCIAL CORP.
BY: /s/ Phyllis A. Knight
---------------------------
Phyllis A. Knight
Senior Vice President and Treasurer
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%,6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,
XC1,XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
Total $ Per $1,000
Class A Certificates Amount Original
- -------------------- ---------- ------------
(1a) Amount available (including Monthly
Servicing Fee) $15,925,147.46
(b) Class M-1 Interest Deficiency Amount
(if any) and Class B-1 Interest
Deficiency Amount (if any) withdrawn
for prior Remittance Date 0.00
(c) Amount Available after giving effect to
withdrawal of Class M-1 Interest
Deficiency Amount and B-1 Interest
Deficiency Amount for prior Remittance
Date 15,925,147.46
(2a) Amount withdrawn from Capitalized Interest
Account (first two Remittance Date) .00
(b) Excess Proceeds (First Remittance Date) .00
A. Interest
(3) Aggregate Interest
a. Class A-1 Remittance Rate(5.70125%) 5.70125%
b. Class A-1 Interest 112,789.06 2.57315409
c. Class A-2 Remittance Rate(6.22%) 6.22%
d. Class A-2 Interest 366,306.17 5.18333333
e. Class A-3 Remittance Rate(6.32%) 6.32%
f. Class A-3 Interest 570,274.67 5.26666667
g. Class A-4 Remittance Rate(6.47%) 6.47%
h. Class A-4 Interest 518,570.50 5.39166667
i. Class A-5 Remittance Rate(6.68%) 6.68%
j. Class A-5 Interest 851,310.33 5.56666667
k. Class A-6 Remittance Rate(6.90%) 6.90%
l. Class A-6 Interest 212,980.00 5.75000000
m. Class A-7 Remittance Rate (7.14%) 7.14%
n. Class A-7 Interest 640,993.50 5.95000000
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%, 6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 2
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,
XC1,XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
o. Class A-8 Remittance Rate (7.07%) 7.07%
p. Class A-8 Interest 749,168.05 5.86033816
q. Class A-9 Remittance Rate (7.55%
unless the Weighted Average Contract
Rate is less than 7.55%) 7.55%
r. Class A-9 Interest
- to Class A-8 in Principal 274,818.51 2.14975722
- to Class A-9 (on or after
Class A-9 Accertion Termination
Date .00 0
s. Class A-10 Remittance Rate (6.87%) 6.87%
t. Class A-10 Interest 601,125.00 5.72500000
Total $ Per $1,000
Amount Original
---------- -----------
(4) Amount applied to:
a. Unpaid Class A Interest Shortfall .00 .00
Class A-9 Pro Rata Share
- to Class A-8 In Principal 0
- to Class A-9 (on and after Class A-9
Accretion Termination Date) 0
Pro Rata share of all other Class A
Certificates 0
(5) Remaining:
a. Unpaid Class A Interest Shortfall .00 .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%, 6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 2
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,
XC1,XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
B. Principal
(6) Formula Principal Distribution
Amount 8,008,808.39 N/A
a. Scheduled Principal 1,107,940.75 N/A
b. Principal Prepayments 5,182,208.96 N/A
c. Liquidated Contracts 45,492.94 N/A
d. Repurchases 1,530,999.89 N/A
e. Current Month Advanced Principal 2,198,120.61 N/A
f. Prior Month Advanced Principal (2,055,954.76) N/A
g. On September 1998 Remittance Date,
amount by which Class A-1 Principal
Balance exceeds sum of (a) thru (f),
above .00 N/A
h. Minus on October 1998 Remittance Date,
amount included on line (g) above for
September Remittance Date .00 N/A
i. DECEMBER 1997: Excess proceeds, if any .00 N/A
(7) Pool Scheduled Principal Balance 1,023,330,370.10
(7b) Adjusted Pool Principal Balance 1,021,132,249.49 972.50690428
(7c) Pool Factor 0.97250690
(8) Class A Principal Deficiency, if any 0
(9) Unpaid Class A Principal Shortfall
(if any)following prior Remittance date .00
(10) Class A Percentage for such Remittance
Date 92.35%
(11) Class A Percentage for the following
Remittance Date 92.29%
(12) Class A-10 Lock-Out Percentage .00%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%, 6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 3
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,
XC1,XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(13) Class A Principal Distribution (in addition
to principal paid to Class A-8 under 3 (r) above):
a. Class A-10 Lock-Out Pro Rata
Distribution Amount .00 .00
b. Class A-1 8,008,808.39 182.71184701
c. Class A-2 .00 .00
d. Class A-3 .00 .00
e. Class A-4 .00 .00
f. Class A-5 .00 .00
g. Class A-6 .00 .00
h. Class A-7 .00 .00
i. Class A-8 .00 .00
j. Class A-9 .00 .00
k. Class A-10 .00 .00
Total $ Per $1,000
Amount Original
---------- ------------
(14) Class A-1 Principal Balance 14,965,249.49 341.41513221
(14a) Class A-1 Pool Factor .34141513
(15) Class A-2 Principal Balance 70,670,000.00 1000.0000000
(15a) Class A-2 Pool Factor 1.00000000
(16) Class A-3 Principal Balance 108,280,000.00 1000.0000000
(16a) Class A-3 Pool Factor 1.00000000
(17) Class A-4 Principal Balance 96,180,000.00 1000.0000000
(17a) Class A-4 Pool Factor 1.00000000
(18) Class A-5 Principal Balance 152,930,000.00 1000.0000000
(18a) Class A-5 Pool Factor 1.00000000
(19) Class A-6 Principal Balance 37,040,000.00 1000.0000000
(19a) Class A-6 Pool Factor 1.00000000
(20) Class A-7 Principal Balance 107,730,000.00 1000.0000000
(20a) Class A-7 Pool Factor 1.00000000
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%, 6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 4
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,
XC1,XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(21) Class A-8 Principal Balance 126,882,417.65 992.5328164
(21a) Class A-8 Pool Factor .99253282
(22) Class A-9 Principal Balance 43,954,582.35 1022.1995896
(22a) Class A-9 Pool Factor 1.02219959
(23) Class A-10 Principal Balance 105,000,000.00 1000.0000000
(23a) Class A-10 Pool Factor 1.00000000
(24) Unpaid Class A Principal Shortfall
(if any) following current Remittance Date .00
(25) Amount, if any, by which Class A Formula
Distribution amount exceeds Class A
Distribution Amount .00
C. Aggregate Scheduled Balances and Number of Delinquent
Contracts as of Determination Date
(26) 31-59 days 6,591,997.71 183
(27) 60 days or more 3,035,882.44 84
(28) Current Month Repossessions 502,130.97 18
(29) Repossession Inventory 770,641.97 26
(30) Weighted Average Contract Rate 9.81214
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE
5.70125%,6.22%,6.32%,6.47%, 6.68%,7.14%,7.07%,7.55%,6.8%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS A1,A2,A3,A4,A5,A6,A7,A8,A9,A10 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 5
CUSIP#'S 393505- WX6,WY4,WZ1,XA5,XB3,XC1,
XD9,XE7,XF4,XG2
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
Class M-1 Distribution Test and Class B Distribution Test (applicable on and
after the Remittance Date occurring in October 2001)
(31) Average Sixty-Day Delinquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Remittance Date .37%
(b) Average Sixty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; July not exceed 3.5%) .15%
(32) Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current Remittance Date .64%
(b) Average Thirty-Day Delinquency Ratio (arithmetic
average of ratios for this month and two preceding
months; July not exceed 5.5%) .46%
(33) Cumulative Realized Losses Test
(a) Cumulative Realized Losses for the current Remittance
Date (as a percentage of Cut-off Date Pool Principal
Balance; July not exceed 5.5% from October 1, 2001 to
September 30, 2002, 6.5% from October 1, 2002 to
September 30, 2003, 8.5% from October 1, 2003 to
September 30, 2004 and 9.5% thereafter) .01%
(34) Current Realized Losses Test
(a) Current Realized Losses for current Remittance Date 42,798.89
(b) Current Realized Loss Ratio (total Realized Losses for
the most recent three months, multiplied by 4, divided by
arithmetic average of Pool Scheduled Principal Balances for
third preceding Remittance and for current Remittance Date;
July not exceed 2.25%) .04%
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.21%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS M1 CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 6
CUSIP#'S 393505-XH0
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(35) Class M-1 Principal Balance Test
(a) The sum of Class M-1 Principal Balance and Class B
Principal Balance (before distributions on current
Remittance Date) divided by Pool Scheduled Principal
Balance as of preceding Remittance Date (must equal
or exceed 22.5%) 15.27%
(36) Class B Principal Balance Test
(a) Class B Principal Balance (before any distributions
on current Remittance Date) as of such Remittance date
greater than $21,000,000.00 .00
(b) Class B Principal Balance (before any distributions
on current Remittance Date) divided by pool Scheduled
Principal Balance as of preceding Remittance Date is
equal to or greater than 11.25% 7.64%
Total $ Per $1,000
Amount Original
---------- ------------
CLASS M1 CERTIFICATES
- ---------------------
(37) Amount available (including Monthly
Servicing Fee) 3,018,003.28
A. Interest
(38) Aggregate interest
a. Class M-1 Remittance Rate (7.21%,
unless Weighted Average Contract
Rate is below 7.21%) 7.21%
b. Class M-1 Interest 473,156.25 6.00833333
(39) Amount applied to Class M-1 Interest
Deficiency Amount .00 0
(40) Remaining unpaid Class M-1 Interest
Deficiency Amount .00 0
(41) Amount Applied to:
a. Unpaid Class M-1 Interest Shortfall .00 0
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.17%,7.75%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS B CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 7
CUSIP#'S 393505-XJ6,XK3
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(42) Remaining:
a. Unpaid Class M-1 Interest Shortfall .00 0
B. Principal
(43) Formula Principal Distribution Amount .00 N/A
a. Scheduled Principal .00 N/A
b. Principal Prepayments .00 N/A
c. Liquidated Contracts .00 N/A
d. Repurchases .00 N/A
(44) Class M-1 Principal Balance 78,750,000.00 1000.00000000
(44a) Class M-1 Pool Factor 1.00000000
(45) Class M-1 Percentage for such Remittance
Date .00
Total $ Per $1,000
Amount Original
---------- ------------
(46) Class M-1 Principal Distribution:
a. Class M-1 (current) .00 0.00000000
b. Unpaid Class M-1 Principal Shortfall
(if any) following prior Remittance
Date .00
(47) Unpaid Class M-1 Principal Shortfall
(if any) following current Remittance Date .00
(48) Class M-1 Percentage for the following
Remittance Date .00%
Class B1 Certificates
- ---------------------
(1) Amount Available less the Class A
Distribution Amount and Class M-1
Distribution amount (including Monthly
Servicing Fee) 2,544,847.03
(2) Class B-1 Remittance Rate (7.17% unless
Weighted Average Contract Rate is below 7.17%) 7.17%
(3) Aggregate Class B1 Interest 250,950.00 5.97500000
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.23%,7.73%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS B CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 8
CUSIP#'S 393505-XJ6,XK3
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(4) Amount applied to Unpaid Class
B1 Interest Shortfall .00 .00
(5) Remaining unpaid Class B1
Interest Shortfall .00 .00
(6) Amount applied to Class B1 Interest
Deficiency Amount .00
(7) Remaining Unpaid Class B-1 Interest
Deficiency Amount .00
(8) Unpaid Class B1 Principal Shortfall
(if any) following prior Remittance Date .00
(8a) Class B Percentage for such Remittance Date .00
Total $ Per $1,000
Amount Original
---------- ------------
(9) Current Principal (Class B Percentage of
Formula Principal Distribution Amount) .00 .00
(10a) Class B1 Principal Shortfall .00
(10b) Unpaid Class B1 Principal Shortfall .00
(11) Class B Principal Balance 78,750,000.00
(12) Class B1 Principal Balance 42,000,000.00
(12a) Class B1 Pool Factor 1.000000000
Please contact Charles F. Pedersen of Firstar Trust Company (414) 287-3921
with any questions regarding this statement or your distribution.
Class B2 Certificates
- ---------------------
(13) Remaining Amount Available 2,293,897.03
(14) Class B-2 Remittance Rate (7.75%
unless Weighted Average Contract
Rate is less than 7.75%) 7.75%
(15) Aggregate Class B2 Interest 237,343.75 6.45833333
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.17%,7.75%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS B CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 9
CUSIP#'S 393505-XJ6,XK3
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(16) Amount applied to Unpaid Class
B2 Interest Shortfall .00 .00
(17) (Remaining Unpaid Class B2 Interest Shortfall .00 .00
(18) Unpaid Class B2 Principal Shortfall
(if any) following prior Remittance Date .00
(19) Class B2 Principal Liquidation Loss Amount .00
(20) Class B2 Principal (zero until Class
B1 paid down; thereafter, Class B
Percentage of Formula Principal
Distribution Amount) .00
(21) Guarantee Payment .00
(22) Class B2 Principal Balance 36,750,000.00
(22a) Class B2 Pool Factor 1.00000000
Total $ Per $1,000
Amount Original
---------- ------------
(23) Monthly Servicing Fee (Deducted from
Certificate Account balance to arrive at
Amount Available if the Company or Green
Tree Financial Corporation is not the
Servicer; deducted from funds remaining
after payment of Class A Distribution
Amount, Class M-1 Distribution Amount,
Class B-1 Distribution Amount and Class
B-2 Distribution Amount; if the Company
or Green Tree Financial Corporation
is the Servicer) 429,665.42
(24) 3% Guarantee 1,626,887.86
(25) Class C Residual Payment .00
<PAGE>
GREEN TREE FINANCIAL CORPORATION
MANUFACTURED HOUSING CONTRACT SENIOR/SUBORDINATE 7.17%,7.75%
PASS-THROUGH CERTIFICATES, SERIES 1997-6
CLASS B CERTIFICATES
MONTHLY REPORT
DECEMBER 1997 - Page 10
CUSIP#'S 393505-XJ6,XK3
TRUST ACCOUNT #80-5049000
REMITTANCE DATE: 1/15/98
(26) Class M-1 Interest Deficiency on such
Remittance Date .00
(27) Class B-1 Interest Deficiency on such
Remittance Date .00
(28) Repossessed Contracts 502,130.97
(29) Repossessed Contracts Remaining
in Inventory 770,641.97
