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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): May 28, 1998
GREEN TREE FINANCIAL CORPORATION
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Delaware 01-08916 41-1807858
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(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
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(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 293-3400
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
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Not applicable.
Item 2. Acquisition or Disposition of Assets.
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Not applicable.
Item 3. Bankruptcy or Receivership.
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Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
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Not applicable.
Item 5. Other Events.
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Not applicable.
Item 6. Resignations of Registrant's Directors.
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Not applicable.
Item 7. Financial Statements and Exhibits.
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(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
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(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
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99.1 Information with respect to manufactured housing
installment sale contracts and installment loan
agreements transferred to the trust formed in
connection with the $500,000,000 (Approximate)
Manufactured Housing Contract Senior/Subordinate
Pass-Through Certificates, Series 1998-4, issued
by Green Tree Financial Corporation, as Seller
and Servicer.
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.
GREEN TREE FINANCIAL CORPORATION
/s/ Scott T. Young
By: ________________________________
Scott T. Young
Senior Vice President and Controller
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INDEX TO EXHIBITS
Exhibit Number Page
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99.1 Information with respect to manufactured housing installment sale
contracts and installment loan agreements transferred to the trust
formed in connection with the $500,000,000 (Approximate)
Manufactured Housing Contract Senior/Subordinate Pass-Through
Certificates, Series 1998-4, issued by Green Tree Financial
Corporation, as Seller and Servicer.
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EXHIBIT 99.1
$500,000,000 (APPROXIMATE)
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1998-4
INFORMATION REGARDING CERTAIN INITIAL AND ADDITIONAL CONTRACTS
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements transferred to the Trust on May
28, 1998. The information below includes the Initial Contracts described in the
Prospectus Supplement dated May 19, 1998, as well as the Additional Contracts
transferred to the Trust. There will be no Subsequent Contracts transferred to
the Trust after the Closing Date. Unless otherwise defined herein, all
capitalized terms have the meanings set forth in the Prospectus Supplement.
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GEOGRAPHICAL DISTRIBUTION OF CONTRACT OBLIGORS
<TABLE>
<CAPTION>
AGGREGATE % OF CONTRACT
PRINCIPAL POOL BY
% OF CONTRACT BALANCE OUTSTANDING
NUMBER OF POOL BY NUMBER OF OUTSTANDING PRINCIPAL
CONTRACTS AS OF CONTRACTS AS OF AS OF CUT- BALANCE AS OF
CUT-OFF DATE CUT-OFF DATE OFF DATE CUT-OFF DATE
--------------- ----------------- --------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 863 6.43% $ 27,887,598.85 5.58%
Arizona................. 226 1.68 9,309,455.82 1.86
Arkansas................ 352 2.62 10,521,341.04 2.10
California.............. 306 2.28 12,317,686.40 2.46
Colorado................ 275 2.05 13,254,655.84 2.65
Connecticut............. 6 .04 162,786.14 .03
Delaware................ 49 .36 2,011,334.86 .40
Florida................. 879 6.55 36,470,428.38 7.29
Georgia................. 843 6.28 31,580,527.03 6.32
Idaho................... 70 .62 9,022,339.30 .60
Illinois................ 196 1.46 5,946,984.94 1.19
Indiana................. 365 2.72 12,865,335.96 2.57
Iowa.................... 196 1.46 5,876,254.64 1.18
Kansas.................. 202 1.50 7,218,443.88 1.44
Kentucky................ 352 2.62 11,451,700.21 2.29
Louisiana............... 293 2.18 8,840,888.70 1.77
Maine .................. 78 .58 2,908,213.11 .58
Maryland................ 55 .41 1,859,784.56 .37
Massachusetts........... 8 .06 283,907.34 .06
Michigan................ 613 4.56 25,400,460.08 5.08
Minnesota............... 258 1.92 7,520,485.40 1.50
Mississippi............. 365 2.72 11,769,453.05 2.35
Missouri................ 372 2.77 11,224,726.68 2.24
Montana................. 119 .89 4,167,179.52 .83
Nebraska................ 70 .52 2,520,939.83 .50
Nevada.................. 109 .81 5,247,286.44 1.05
New Hampshire........... 53 .39 1,500,128.48 .30
New Jersey.............. 3 .02 165,926.90 .03
New Mexico.............. 294 2.19 13,118,576.31 2.62
New York................ 175 1.30 5,227,100.48 1.05
North Carolina.......... 1,172 8.74 48,025,835.13 9.62
North Dakota............ 57 .42 1,529,962.50 .31
Ohio.................... 326 2.43 12,303,116.50 2.46
Oklahoma................ 358 2.67 13,146,325.69 2.63
Oregon.................. 130 .97 8,394,960.97 1.68
Pennsylvania............ 166 1.24 5,742,736.11 1.15
South Carolina.......... 546 4.07 21,643,715.94 4.33
South Dakota............ 118 .88 4,025,956.67 .81
Tennessee............... 401 2.99 13,232,044.93 2.65
Texas................... 1,146 8.53 42,306,902.73 9.47
Utah.................... 55 .41 2,519,750.23 .50
Vermont................. 26 .19 902,374.44 .18
Virginia................ 253 1.88 8,334,434.36 1.67
Washington.............. 198 1.47 11,546,398.05 2.31
West Virginia........... 151 1.12 4,714,059.52 .94
Wisconsin............... 211 1.57 6,549,592.19 1.31
Wyoming................. 71 .53 3,429,911.55 .69
------ ------ --------------- ------
Total................... 13,430 100.00% $499,999,997.68 100.00%
====== ====== =============== ======
</TABLE>
2
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YEARS OF ORIGINATION OF CONTRACTS
<TABLE>
<CAPTION>
NUMBER OF AGGREGATE % OF CONTRACT POOL BY
CONTRACTS PRINCIPAL BALANCE OUTSTANDING PRINCIPAL
AS OF OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION (1) CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ----------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
1986 ....................... 3 $ 18,553.58 * %
1987 ....................... 1 8,031.36 *
1988 ....................... 2 23,125.61 *
1989 ....................... 5 100,649.49 .02
1990 ....................... 7 144,732.22 .03
1991 ....................... 10 196,535.47 .04
1992 ....................... 11 244,388,82 .05
1993 ....................... 9 223,153.99 .04
1994 ....................... 34 969,768.01 .19
1995 ....................... 33 1,019,435.27 .20
1996 ....................... 43 1,553,295.02 .31
1997 ....................... 87 6,285,965.93 1.27
1998 ....................... 13,184 489,190,528.96 97.85
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Total ............ 13,430 $499,999,997.68 100.00%
====== =============== ======
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</TABLE>
(1) The Contracts shown in the above table with earlier years of origination
primarily represent Contracts originated by the Company and subsequently
refinanced through the Company. The Company retains the first origination
dates on its records with respect to such refinanced Contracts.
* Indicates an amount greater than zero but less than .005% of the aggregate
principal balance of the Contracts as fo the Cut-off Date.
DISTRIBUTION OF ORIGINAL CONTRACT AMOUNTS
<TABLE>
<CAPTION>
NUMBER OF AGGREGATE % OF CONTRACT POOL BY
CONTRACTS PRINCIPAL BALANCE OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT AS OF OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ---------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
Less than $10,000........ 565 $ 4,328,166.53 .87%
$10,000 to $19,999....... 2,168 33,185,419.34 6.64
$20,000 to $29,999....... 3,178 80,207,216.88 16.04
$30,000 to $39,999....... 2,800 96,795,176.50 19.36
$40,000 to $49,999....... 1,681 75,015,714.80 15.00
$50,000 to $59,999....... 1,282 69,983,342.10 14.00
$60,000 to $69,999....... 712 45,771,020.41 9.15
$70,000 to $79,999....... 393 29,339,782.36 5.87
$80,000 to $89,999....... 258 21,877,278.07 4.38
$90,000 to $99,999....... 150 14,267,717.94 2.85
$100,000 to $109,999..... 90 9,376,121.17 1.88
$110,000 to $119,999..... 61 7,030,815.02 1.41
$120,000 to $129,999..... 43 5,360,994.59 1.07
$130,000 to $139,999..... 17 2,274,492.62 .45
$140,000 to $149,999..... 13 1,885,760.19 .38
$150,000 to $159,999..... 4 621,348.11 .12
$160,000 to $169,999..... 6 996,328.27 .20
$170,000 to $179,999..... 3 522,650.49 .10
$180,000 to $189,999..... 1 180,177.75 .04
$190,000 to $199,999..... 3 578,641.28 .12
$200,000 to $249,999..... 2 411,833.26 .08
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Total................. 13,430 $499,999,997.68 100.00%
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</TABLE>
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DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
LOAN-TO-VALUE RATIO (1) AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
- ----------------------- ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 61%........... 438 $ 12,474,084.61 2.49%
61% to 65%.............. 142 4,632,100.66 .93
66% to 70%.............. 213 7,802,167.55 1.56
71% to 75%.............. 325 12,452,491.10 2.49
76% to 80%.............. 1,029 38,464,053.63 7.69
81% to 85%.............. 1,363 52,302,947.25 10.46
86% to 90%.............. 4,635 180,209,580.88 36.05
91% to 95%.............. 4,479 162,412,862.36 32.48
Over 95%................ 806 29,249,709.64 5.85
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Total................ 13,430 $499,999,997.68 100.00%
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</TABLE>
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(1)Rounded to the nearest 1%. The method of calculating loan-to-value ratios is
described in the Prospectus.
CONTRACT RATES
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
RANGE OF CONTRACTS BY NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
CONTRACT RATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
--------------------- ------------------- ------------------- --------------------------
<S> <C> <C> <C>
0.00000% to 5.00000%.... 5 $ 355,338.60 .07%
5.00001% to 6.00000%.... 40 2,340,809.79 .47
6.00001% to 7.00000%.... 751 57,872,764.27 11.57
7.00001% to 8.00000%.... 1,502 82,157,062.86 16.43
8.00001% to 9.00000%.... 1,815 85,173,885.16 17.03
9.00001% to 10.00000%... 2,245 89,665,048.87 17.93
10.00001% to 11.00000%.. 2,378 78,352,861.80 15.67
11.00001% to 12.00000%.. 2,564 64,379,831.33 12.88
12.00001% to 13.00000%.. 1,328 27,729,232.88 5.65
13.00001% to 14.00000%.. 573 9,680,004.48 1.94
14.00001% to 15.00000%.. 24 334,386.92 .07
15.00001% to 16.00000%.. 167 1,603,094.47 .32
16.00001% to 17.00000%.. 38 355,676.45 .07
------ --------------- ------
Total................ 13,430 $499,999,997.68 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY OF CONTRACTS
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF CONTRACT POOL BY
MONTHS REMAINING NUMBER OF CONTRACTS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
AS OF CUT-OFF DATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
------------------ ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 31............ 4 $ 20,519.70 * %
31 to 60................ 317 2,822,651.95 .56
61 to 90................ 335 4,539,373.89 .91
91 to 120............... 1,051 17,174,634.57 3.43
121 to 150.............. 379 8,034,752.80 1.61
151 to 180.............. 2,040 48,428,880.60 9.69
181 to 210.............. 94 3,216,046.28 .64
211 to 240.............. 2,349 73,754,207.61 14.75
241 to 270.............. 20 739,305.81 .15
271 to 300.............. 1,146 39,652,782.59 7.93
301 to 330.............. 14 595,836.05 .12
331 to 360.............. 5,681 301,021,005.83 60.21
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Total................ 13,430 $499,999,997.68 100.00%
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</TABLE>
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* Indicates an amount greater than zero but less than .005% of the aggregate
principal balance of the Contracts as of the Cut-Off Date.
4
