<PAGE>
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):June 15, 1998
GREEN TREE FLOORPLAN RECEIVABLES MASTER TRUST 1996-2
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(Exact name of registrant as specified in its charter)
MINNESOTA 33-62433 APPLIED FOR
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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 Norwest Bank
Minnesota (the "Trustee"), on June 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
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99.1 Monthly Report delivered to
Certificateholders on
June 15, 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:June 15, 1998
FLOORPLAN RECEIVABLES MASTER TRUST
1996-2
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
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99.1 Monthly Report delivered to Certificateholders 5
on June 15, 1998.
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[LOGO OF GREEN TREE FINANCIAL CORPORATION]
FORM OF MONTHLY STATEMENT
GreenTree Floorplan Receivables Master Trust
Series 1996-2
Pursuant to the Pooling and Servicing Agreement dated as of December 1,
1995 (hereinafter as such agreement may have been or may be from time to time
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
Green Tree Financial Corporation as servicer (the "Servicer"), Green Tree
Floorplan Funding Corp. as transferor (the "Transferor"), and Norwest Bank
Minnesota as trustee (the "Trustee"), as supplemented by the Series 1996-2
Supplement dated as of December 1, 1996 (the Supplement") among the Servicer,
the Transferor and the Trustee, as Servicer is required to prepare certain
information each month regarding current distributions to the Series 1996-2
Certificateholders and the performance of the Green Tree Floorplan Receivables
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the performance of the Trust during the
month of May 1998 is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-2
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Monthly Statement have their respective meanings set forth in the Pooling and
Servicing Agreement and the Supplement.
A) Information regarding distribution in respect of the Class A
Certificates per $1,000 original certificate principal amount
(1) The total amount of the distribution in respect of Class A
Certificates, per $1,000 original certificate principal amount 5.29
(2) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the Class A Certificates, per $1,000
original certificate principal amount 5.29
(3) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the Class A Certificates, per $1,000
original certificate principal amount 0
B) Class A Investor Charge Offs and Reimbursement of Charge Offs
(1) The amount of Class A Investor Charge Offs 0
(2) The amount of Class A Investor Charge Offs set forth in
paragraph 1 above, per $1,000 original certificate principal
amount 0
(3) The total amount reimbursed in respect of Class A Investor
Charge Offs 0
(4) The amount set forth in paragraph 3 above, per $1,000 original
certificate principal amount 0
(5) The amount, if any, by which the outstanding principal balance
of the Class A Certificates exceeds the Class A Invested Amount
after giving effect to all transactions on such Distribution Date 0
C) Information regarding distributions in respect of the Class B
Certificates, per $1,000 original certificate principal amount
(1) The total amount of the distribution in respect of Class B
Certificates, per $1,000 original certificate principal amount 5.49
(2) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the Class B Certificates, per $1,000
original certificate principal amount 5.49
(3) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the Class B Certificates, per $1,000
original certificate principal amount 0
Page 1
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D) Amount of reductions in Class B Invested Amount pursuant to
clauses (c), (d), and (e) of the definition of Class B Invested
Amount
(1) The amount of reductions in Class B Invested Amount pursuant
to clauses (c), (d), and (e) of the definition of Class B
Invested Amount 0
(2) The amount of reductions in the Class B Invested Amount set
forth in paragraph 1 above, per $1,000 original certificate
principal amount 0
(3) The total amount reimbursed in respect of such reductions
in the Class B Invested Amount 0
(4) The amount set forth in paragraph 3 above, per $1,000 original
certificate principal amount 0
(5) The amount, if any, by which the outstanding principal balance
of the Class B Certificates exceeds the Class B Invested Amount
after giving effect to all transactions on such Distribution Date 0
Green Tree Financial Corporation, as Servicer
By: _________________________________
Name: Phyllis A. Knight
Title: Senior Vice President and Treasurer
<TABLE>
<CAPTION>
RECEIVABLES ---
<S> <C> <C>
Beginning of the Month Principal Receivables: 1,576,469,193.45
Removed Principal Receivables: 11,092,374.15
Additional Principal Receivables: .00
End of the Month Principal Receivables: 1,577,889,657.13
End of the Month Total Receivables: 1,577,889,657.13
Excess Funding / Prefunding Account Balance -
Aggregate Invested Amount (all Master Trust Series) 1,481,000,000.00
End of the Month Transferor Amount 25,151,905.22
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Month Delinquencies:
30-60 Days Delinquent 1,428,186.42
61-90 Days Delinquent 385,296.58
90+ Days Delinquent 715,078.83
Total 30+ Days Delinquent 2,528,561.83
Defaulted Accounts During the Month 43,360.74
INVESTED AMOUNTS ---
Class A Initial Invested Amount 478,800,000.00
Class B Initial Invested Amount 21,500,000.00
Class C Initial Invested Amount 8,100,000.00
Class D Initial Invested Amount 29,600,000.00
INITIAL INVESTED AMOUNT 538,000,000.00
Class A Invested Amount 478,800,000.00
Class B Invested Amount 21,500,000.00
Class C Invested Amount 8,100,000.00
Class D Invested Amount 29,600,000.00
INVESTED AMOUNT 538,000,000.00
Class A Adjusted Invested Amount 478,800,000.00
Class B Adjusted Invested Amount 21,500,000.00
Class C Invested Amount 8,100,000.00
Class D Invested Amount 39,645,012.77
</TABLE>
Page 2
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<TABLE>
<CAPTION>
<S> <C> <C>
ADJUSTED INVESTED AMOUNT 548,045,012.77
MONTHLY SERVICING FEE 913,408.35
INVESTOR DEFAULT AMOUNT 14,956.44
SERIES 1996-2 INFORMATION
SERIES 1996-2 ALLOCATION PERCENTAGE 36.33%
SERIES 1996-2 ALLOCABLE FINANCE CHARGE 4,775,111.56
SERIES 1996-2 UNREIMBURSED CHARGE-OFFS 0.00
SERIES 1996-2 ALLOCABLE DEFAULTED AMOUNT 15,751.57
SERIES 1996-2 MONTHLY FEES 913,408.35
SERIES 1996-2 ALLOCABLE PRINCIPAL COLLECTIONS 140,604,906.07
SERIES 1996-2 REQUIRED TRANSFEROR AMOUNT 21,921,800.51
FLOATING ALLOCATION PERCENTAGE 34.76%
INVESTOR FINANCE CHARGE COLLECTIONS 4,539,884.04
INVESTOR DEFAULT AMOUNT 14,956.44
PRINCIPAL ALLOCATION PERCENTAGE 34.76%
AVAILABLE PRINCIPAL COLLECTIONS 133,384,523.76
CLASS A FLOATING ALLOCATION 30.37%
CLASS A REQUIRED AMOUNT .00
CLASS B FLOATING ALLOCATION 1.36%
CLASS B REQUIRED AMOUNT .00
CLASS C FLOATING ALLOCATION 0.51%
CLASS D FLOATING ALLOCATION 2.51%
TOTAL EXCESS SPREAD 1,863,526.23
YIELD AND BASE RATE---
Base Rate (Current Month) 7.37%
Base Rate (Prior Month) 7.37%
Base Rate (Two Months Ago) 7.43%
THREE MONTH AVERAGE BASE RATE 7.39%
Series Adjusted Portfolio Yield (Current Month) 9.91%
Series Adjusted Portfolio Yield (Prior Month) 9.42%
Series Adjusted Portfolio Yield (Two Months Ago) 9.04%
THREE MONTH AVERAGE SERIES ADJUSTED PORTFOLIO 9.46%
YIELD
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 30.37%
Class A Principal Collections 116,531,504.69
CLASS B PRINCIPAL PERCENTAGE 1.36%
Class B Principal Collections 5,232,722.12
CLASS C PRINCIPAL PERCENTAGE 0.51%
Class C Principal Collections 1,971,397.64
CLASS D PRINCIPAL PERCENTAGE 2.51%
Class D Principal Collections 9,648,899.31
AVAILABLE PRINCIPAL COLLECTIONS 133,384,523.76
REALLOCATED PRINCIPAL COLLECTIONS .00
SERIES 1996-2 PRINCIPAL SHORTFALL 0.00
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER 0.00
PRINCIPAL SHARING SERIES
ACCUMULATION ---
Controlled Accumulation Amount 0.00
</TABLE>
Page 3
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<TABLE>
<CAPTION>
<S> <C> <C>
Deficit Controlled Accumulation Amount 0.00
CONTROLLED DEPOSIT AMOUNT 0.00
PRINCIPAL FUNDING ACCOUNT BALANCE 0.00
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER 133,399,480.20
PRINCIPAL SHARING SERIES
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS 0.00
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN 0.00
BY PRINCIPAL PAYMENTS)
REDUCTIONS IN CLASS C INVESTED AMOUNT (OTHER 0.00
THAN BY PRINCIPAL PAYMENTS)
REDUCTIONS IN CLASS D INVESTED AMOUNT (OTHER .00
THAN BY PRINCIPAL PAYMENTS)
PREVIOUS CLASS A CHARGE OFFS REIMBURSED 0.00
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS REIMBURSED 0.00
PREVIOUS CLASS C INVESTED AMOUNT REDUCTIONS REIMBURSED 0.00
PREVIOUS CLASS D INVESTED AMOUNT REDUCTIONS REIMBURSED 0.00
</TABLE>
Green Tree Financial Corporation, as Servicer
By: ___________________________________
Name: Phyllis A. Knight
Title: Senior Vice President and Treasurer
Page 4
