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Previous: VAN KAMPEN U S GOVERNMENT TRUST FOR INCOME, 485APOS, 1998-11-23 |
Next: GREEN TREE FINANCIAL CORP, 8-K, 1998-11-23 |
<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): November 16, 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: (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 First Bank
National Association (the "Trustee"), on November 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
----------- -----------
99.1 Monthly Report delivered to Certificateholders
on November 16, 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:
SECURITIZED 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 November 16, 1998.
<PAGE>
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-A
OCTOBER, 1998
PAYMENT: NOVEMBER 16, 1998
6.90% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP # 393534AA0
TRUST ACCOUNT # 33-31829-0
DISTRIBUTION DATE: NOV. 16, 1998
<TABLE>
PER $1,000
SECURITIZED NET INTEREST MARGIN CERTIFICATES ORIGINAL
- -------------------------------------------- -----------
<S> <C> <C> <C>
1. Amount Available 5,378,380.80
--------------
Interest
2. Aggregate Interest 1,055,932.51 2.07860730
-------------- -----------
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest
5. Monthly Interest 1,055,932.51
--------------
Principal
6. Current month's principal distribution 4,322,448.29 8.50875648
-------------- -----------
7. Remaining outstanding principal balance 179,317,987.99 352.9881653
-------------- -----------
Pool Factor 0.35298817
--------------
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 478,151,946.95 **
--------------
9. Aggregate amount on deposit in reserve funds:
(i) attributable to the Residual Assets 72,357,350.20
---------------
(ii) attributable to this securitization 25,531,353.55
---------------
10. Aggregate principal balance of loans
refinanced by Green Tree Financial 5,210,276.48
---------------
11. Weighted average CPR 14.99%
---------------
12. Weighted average CDR 1.85%
---------------
13. Annualized net loss percentage 1.05%
---------------
14. Delinquency 30-59 day 0.68%
--------------
60-89 day 0.23%
--------------
90+ day 0.47%
--------------
Total 30+ 1.38%
--------------
</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 10/15/98.
<PAGE>
GREEN TREE FINANCIAL
NET INTEREST MARGIN TRUST 1994-A
OCTOBER, 1998
PAYMENT: NOVEMBER 16, 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 0.00 0.00 297.51 297.51
MAHCS 1987-B 0.00 0.00 0.00 0.00
MLMI 1987B 0.00 0.00 0.00 0.00
MLMI 1987C 22,681.59 5,025.38 103.25 27,810.22
MLMI 1988E 32,108.58 4,581.37 1,802.17 38,492.12
MLMI 1988H 0.00 5,020.83 5,020.83
MLMI 1988Q 0.00 7,677.64 7,677.64
MLMI 1988X 0.00 5,806.25 5,806.25
MLMI 1989B 0.00 3,630.68 3,630.68
MLMI 1989D 0.00 7,247.05 7,247.05
MLMI 1989F 38,747.20 10,248.85 1,163.81 50,159.86
MLMI 1989H 10,269.56 9,205.98 0.00 19,475.54
MLMI 1990B 0.00 5,820.91 113.14 5,934.05
MLMI 1990D 34,180.44 8,756.85 2,592.72 45,530.01
MLMI 1990G 65,234.03 10,706.03 4,135.03 80,075.09
MLMI 1990I 0.00 0.00 0.00
MLMI 1991B 0.00 7,811.74 7,811.74
MLMI 1991D 0.00 10,934.97 10,934.97
MLMI 1991G 0.00 16,333.78 16,333.78
MLMI 1991I 0.00 17,226.98 17,226.98
MLMI 1992B 0.00 48,679.35 48,679.35
MLMI 1992D 0.00 30,901.13 30,901.13
GTFC 1992-1 0.00 0.00 26,552.00 26,552.00
GTFC 1992-2 20,548.24 48,374.24 14,964.22 83,886.70
GTFC 1993-1 143,419.65 44,053.35 30,556.92 218,029.92
GTFC 1993-2 291,282.02 85,626.87 41,672.47 418,581.36
GTFC 1993-3 567,429.62 131,708.08 74,749.87 773,887.57
GTFC 1993-4 0.00 152,171.66 152,171.66
--------------------------------------------------------------------------------
CONVENTIONAL 1,225,900.93 0.00 677,549.97 198,703.11 2,102,154.01
GNMA SERVICING FEES 1,450,655.39 82,271.62 1,532,927.01
FHA PAYMENT (496,784.27) (496,784.27)
SERVICING (264,778.06) (264,778.06)
PREPAYMENT SHORTFALLS (32,732.68) (32,732.68)
LIQUIDATION LOSSES (62,352.40) (62,352.40)
--------------------------------------------------------------------------------
GNMA 594,007.98 82,271.62 676,279.60
--------------------------------------------------------------------------------
TOTAL AMOUNT OF GUARANTEE FEES, GNMA EXCESS SPREAD, EXCESS
SERVING FEES, AND INSIDE REFINANCE PAYMENTS 2,778,433.61
-------------
PAYMENT ON FINANCE 1 NOTE 2,778,433.61
-------------
ALLOCABLE TO INTEREST (CURRENT) 393,611.45
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ALLOCABLE TO ACCRUED BUT UNPAID INTEREST 0.00
-------------
ACCRUED AND UNPAID TRUSTEE FEES 0.00
-------------
ALLOCABLE TO PRINCIPAL 2,384,822.16
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FINANCE 1 NOTE PRINCIPAL BALANCE 66,069,342.65
-------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL
NET INTEREST MARGIN TRUST 1994-A
OCTOBER, 1998
PAYMENT: NOVEMBER 16, 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 18,673.73 528.86 19,202.59
MLMI 1988Q 13,162.63 1,099.09 14,261.72
MLMI 1988X 16,947.46 1,417.18 18,364.64
MLMI 1989B 0.00 0.00 0.00
MLMI 1989D 3,037.02 617.25 3,654.27
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 317,456.08 82,980.05 400,436.13
MLMI 1991B 508,670.83 28,837.77 537,508.60
MLMI 1991D 54,581.76 1,933.22 56,514.98
MLMI 1991G 131,979.72 19,304.68 151,284.40
MLMI 1991I 147,058.15 23,274.11 170,332.26
MLMI 1992B 510,955.54 54,283.16 565,238.70
MLMI 1992D 207,242.75 40,743.86 247,986.61
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 1993-4 333,283.53 81,878.76 415,162.29
------------------------------------------------
2,263,049.20 336,897.99 2,599,947.19
Total Residual and Inside
Refinance Payments 2,599,947.19
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