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Previous: GREEN TREE FINANCIAL CORP, 8-K, 1998-09-21 |
Next: GREEN TREE FINANCIAL CORP, 8-K, 1998-09-21 |
<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):SEPTEMBER 15, 1998
HOME EQUITY LOAN TRUST 1998-C
-----------------------------
(Exact name of registrant as specified in its charter)
MINNESOTA 33-55853 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 First Trust
(N.A.) (the "Trustee"), on September 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 6.05 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
September 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: September 15, 1998
HOME EQUITY LOAN TRUST 1998-C
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 September 15, 1998.
<PAGE>
GREEN TREE FINANCIAL CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Senior Vice President and Treasurer of
Green Tree Financial Corp., a Minnesota corporation (the "Company"), and that as
such he is duly authorized to execute and deliver this certificate on behalf of
the Company pursuant to Section 8.06 of the Pooling and Servicing Agreement (the
"Agreement") dated as of May 1, 1998 between the Company and First Trust
National Association, as Trustee of Home Equity Trust 1998-C (all capitalized
terms used herein without definition having the respective meanings specified in
the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the
Company on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the
Trustee to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
August, 1998.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
--------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<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 Minnesota corporation (the "Company"), and that as
such he 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 as of February 1, 1998 between the Company and First Trust
(N.A), as Trustee of Home Equity Loan Trust 1998-C (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 August 1, 1998 to August 31, 1998
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 10th day of
September, 1998.
GREEN TREE FINANCIAL CORP.
BY: /s/Phyllis A. Knight
--------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
1. (A) AMOUNT AVAILABLE (INCLUDING MONTHLY SERVICING FEE) $ 9,766,499.28
-----------------
(B) CLASS HE: M-1 INTEREST DEFICIENCY AMOUNT (IF ANY), CLASS HE: M-2 INTEREST
DEFICIENCY AMOUNT (IF ANY) AND CLASS HE: B-1 INTEREST DEFICIENCY
AMOUNT (IF ANY) WITHDRAWN FOR PRIOR PAYMENT DATE $ 0.00
-----------------
(C) AMOUNT AVAILABLE AFTER GIVING EFFECT TO WITHDRAWAL OF ANY
CLASS HE: M-1 INTEREST DEFICIENCY AMOUNT, CLASS HE: M-2 INTEREST DEFICIENCY
AMOUNT AND CLASS HE: B-1 INTEREST DEFICIENCY AMOUNT FOR PRIOR PAYMENT DATE $ 9,766,499.28
-----------------
PRINCIPAL
2. FORMULA PRINCIPAL DISTRIBUTION AMOUNT:
FIXED RATE LOANS:
(A) SCHEDULED PRINCIPAL $ 406,433.57
--------------
(B) PRINCIPAL PREPAYMENTS 4,227,719.60
--------------
(C) LIQUIDATED LOANS 0.00
--------------
(D) REPURCHASES 0.00
--------------
(E) PREVIOUSLY UNDISTRIBUTED (A)-(D) AMOUNTS 0.00
--------------
(F) PRE-FUNDED FIXED RATE AMOUNT, IF ANY 0.00
--------------
(G) CLASS HE: A-1ARM FORMULA PRINCIPAL
DISTRIBUTION AMOUNT, IF APPLICABLE 0.00
--------------
TOTAL PRINCIPAL $ 4,634,153.17
-----------------
3. CLASS HE: A-1 ARM FORMULA PRINCIPAL DISTRIBUTION AMOUNT (LESSER
OF CLASS HE: A-1 ARM PRINCIPAL BALANCE OR SUM OF (A) - (F))
(A) SCHEDULED PRINCIPAL $ 65,921.50
--------------
(B) PRINCIPAL PREPAYMENTS 453,055.35
--------------
(C) LIQUIDATED LOANS 0.00
--------------
(D) REPURCHASES 28,549.33
--------------
(E) PRE-FUNDED ARM AMOUNT, IF ANY 0.00
--------------
(F) CLAUSE (VI) OF DEFINITION 0.00
--------------
TOTAL PRINCIPAL $ 547,526.18
-----------------
4. SENIOR PERCENTAGE 100%
-----------------
5. CLASS B PERCENTAGE 100%
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 2
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
CLASS HE: A CERTIFICATES
-------------------------
INTEREST
6. AGGREGATE INTEREST
(A) CLASS HE: A-1A ARM PASS-THROUGH RATE 6.00%
----
(B) CLASS HE: A-1A ARM INTEREST $ 70,000.00
-----------------
(C) CLASS HE: A-1B ARM PASS-THROUGH RATE 5.82063%
-------
(D) CLASS HE: A-1B ARM INTEREST $ 483,739.67
-----------------
(E) CLASS HE: A-1 PASS-THROUGH RATE 5.95%
----
(F) CLASS HE: A-1 INTEREST $ 469,624.71
-----------------
(G) CLASS HE: A-2 PASS-THROUGH RATE 6.03%
----
(H) CLASS HE: A-2 INTEREST $ 400,492.50
-----------------
(I) CLASS HE: A-3 PASS-THROUGH RATE 6.18%
----
(J) CLASS HE: A-3 INTEREST $ 215,785.00
-----------------
(K) CLASS HE: A-4 PASS-THROUGH RATE 6.30%
----
(L) CLASS HE: A-4 INTEREST $ 162,750.00
-----------------
(M) CLASS HE: A-5 PASS-THROUGH RATE 6.39%
----
(N) CLASS HE: A-5 INTEREST $ 105,967.50
-----------------
(O) CLASS HE: A-6 PASS-THROUGH RATE 6.29%
----
(P) CLASS HE: A-6 INTEREST $ 104,833.33
-----------------
(Q) CLASS HE: A-7 IO PASS-THROUGH RATE 10.00%
-----
(R) CLASS HE: A-7 IO INTEREST $ 208,333.33
-----------------
7. AMOUNT APPLIED TO UNPAID CLASS HE: A INTEREST SHORTFALL $ 0.00
-----------------
8. REMAINING UNPAID CLASS HE: A INTEREST SHORTFALL $ 0.00
-----------------
PRINCIPAL
9. CLASS HE: A-6 LOCKOUT PERCENTAGE FOR SUCH PAYMENT DATE 100%
-----------------
10. CLASS HE: A PRINCIPAL DISTRIBUTION:
(A) CLASS HE: A-1B ARM $ 547,526.18
-----------------
(B) CLASS HE: A-1A ARM $ 0.00
-----------------
(C) CLASS HE: A-6 LOCKOUT PRO RATA DISTRIBUTION AMOUNT $ 0.00
-----------------
(D) BALANCE OF FORMULA PRINCIPAL DISTRIBUTION AMOUNT
(I) CLASS HE: A-1 $ 4,634,153.17
-----------------
(II) CLASS HE: A-2 $ 0.00
-----------------
(III) CLASS HE: A-3 $ 0.00
-----------------
(IV) CLASS HE: A-4 $ 0.00
-----------------
(V) CLASS HE: A-5 $ 0.00
-----------------
(VI) CLASS HE: A-6 $ 0.00
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 3
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
11. CLASS HE: A PRINCIPAL BALANCE:
(A) CLASS HE: A-1A ARM PRINCIPAL BALANCE $ 14,000,000.00
-----------------
(B) CLASS HE: A-1B ARM PRINCIPAL BALANCE $ 102,620,759.59
-----------------
(C) CLASS HE: A-1 PRINCIPAL BALANCE $ 90,080,073.36
-----------------
(D) CLASS HE: A-2 PRINCIPAL BALANCE $ 79,700,000.00
-----------------
(E) CLASS HE: A-3 PRINCIPAL BALANCE $ 41,900,000.00
-----------------
(F) CLASS HE: A-4 PRINCIPAL BALANCE $ 31,000,000.00
-----------------
(G) CLASS HE: A-5 PRINCIPAL BALANCE $ 19,900,000.00
-----------------
(H) CLASS HE: A-6 PRINCIPAL BALANCE $ 20,000,000.00
-----------------
(I) CLASS HE: A-7 IO NOTIONAL PRINCIPAL AMOUNT $ 25,000,000.00
-----------------
12. AMOUNT, IF ANY, BY WHICH CLASS A FORMULA DISTRIBUTION AMOUNT
EXCEEDS CLASS A DISTRIBUTION AMOUNT $ 0.00
-----------------
CLASS HE: M-1 CERTIFICATES
---------------------------
13. AMOUNT AVAILABLE LESS THE CLASS HE: A DISTRIBUTION AMOUNT
(INCLUDING MONTHLY SERVICING FEE) $ 2,363,293.89
-----------------
INTEREST ON CLASS HE: M-1 PRINCIPAL BALANCE LESS CLASS HE: M-1
LIQUIDATION LOSS PRINCIPAL AMOUNT
14. CURRENT INTEREST
(A) CLASS HE: M-1 PASS-THROUGH RATE 6.80%
----
(B) CLASS HE: M-1 INTEREST $ 184,166.67
-----------------
15. AMOUNT APPLIED TO UNPAID CLASS HE: M-1 INTEREST SHORTFALL $ 0.00
-----------------
16. REMAINING UNPAID CLASS HE: M-1 INTEREST SHORTFALL $ 0.00
-----------------
17. CLASS M-1 INTEREST DEFICIENCY AMOUNT $ 0.00
-----------------
18. CLASS M-1 INTEREST DEFICIENCY AMOUNT UNPAID $ 0.00
-----------------
PRINCIPAL
19. CLASS HE: M-1 PRINCIPAL DISTRIBUTION $ 0.00
-----------------
20. CLASS HE: M-1 PRINCIPAL BALANCE $ 32,500,000.00
-----------------
21. AMOUNT, IF ANY, BY WHICH CLASS M-1 FORMULA DISTRIBUTION AMOUNT
EXCEEDS CLASS M-1 DISTRIBUTION AMOUNT $ 0.00
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 4
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
CLASS HE: M-2 CERTIFICATES
---------------------------
22. AMOUNT AVAILABLE LESS THE CLASS HE: A DISTRIBUTION AMOUNT
AND CLASS HE: M-1 DISTRIBUTION AMOUNT (INCLUDING MONTHLY SERVICING FEE) $ 2,179,127.22
-----------------
INTEREST ON CLASS HE: M-2 PRINCIPAL BALANCE LESS CLASS HE: M-2
LIQUIDATION LOSS PRINCIPAL AMOUNT
23. CURRENT INTEREST
(A) CLASS HE: M-2 PASS-THROUGH RATE 7.14%
----
(B) CLASS HE: M-2 INTEREST $ 111,562.50
-----------------
24. AMOUNT APPLIED TO UNPAID CLASS HE: M-2 INTEREST SHORTFALL $ 0.00
-----------------
25. REMAINING UNPAID CLASS HE: M-2 INTEREST SHORTFALL $ 0.00
-----------------
26. CLASS HE: M-2 INTEREST DEFICIENCY AMOUNT $ 0.00
-----------------
27. CLASS HE: M-2 INTEREST DEFICIENCY AMOUNT UNPAID $ 0.00
-----------------
PRINCIPAL
28. CLASS HE: M-2 PRINCIPAL DISTRIBUTION $ 0.00
-----------------
29. CLASS HE: M-2 PRINCIPAL BALANCE $ 18,750,000.00
-----------------
30. AMOUNT, IF ANY, BY WHICH CLASS M-2 FORMULA PRINCIPAL DISTRIBUTION AMOUNT
EXCEEDS CLASS M-2 DISTRIBUTION AMOUNT $ 0.00
-----------------
CLASS HE: B PRINCIPAL DISTRIBUTION TESTS
(TESTS MUST BE SATISFIED ON AND AFTER THE PAYMENT DATE OCCURRING IN JUNE 2001)
31. AVERAGE SIXTY-DAY DELIQUENCY RATIO TEST
(A) SIXTY-DAY DELINQUENCY RATIO FOR CURRENT PAYMENT DATE 0.49%
-----------------
(B) AVERAGE SIXTY-DAY DELINQUENCY RATIO TEST (ARITHMETIC AVERAGE OF RATIOS
FOR THIS MONTH AND TWO PRECEDING MONTHS; MAY NOT EXCEED 6.0%) 0.26%
-----------------
32. AVERAGE THIRTY-DAY DELINQUENCY RATIO TEST
(A) THIRTY-DAY DELINQUENCY RATIO FOR CURRENT PAYMENT DATE 1.61%
-----------------
(B) AVERAGE THIRTY-DAY DELINQUENCY RATIO TEST ( ARITHMETIC AVERAGE OF RATIOS
FOR THIS MONTH AND TWO PRECEDING MONTHS; MAY NOT EXCEED 12%) 1.13%
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 5
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
33. CUMULATIVE REALIZED LOSSES TEST
(A) CUMULATIVE REALIZED LOSSES FOR CURRENT PAYMENT DATE ( AS A PERCENTAGE
OF CUT-OFF DATE POOL PRINCIPAL BALANCE: MAY NOT EXCEED 7.5%.) 0.00%
-----------------
34. CURRENT REALIZED LOSSES TEST
(A) CURRENT REALIZED LOSSES FOR CURRENT PAYMENT DATE $ 0.00
-----------------
(B) CURRENT REALIZED LOSS RATIO (TOTAL REALIZED LOSSES FOR 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; MAY NOT EXCEED 2%) 0.00%
-----------------
35. CLASS HE: B PRINCIPAL BALANCE TEST
(A) PERCENTAGE EQUAL TO (A) CLASS HE: B PRINCIPAL BALANCE (BEFORE ANY
DISTRIBUTIONS ON CURRENT PAYMENT DATE) DIVIDED BY (B) POOL SCHEDULED
PRINCIPAL BALANCE FOR PRIOR PAYMENT DATE OR (MUST EQUAL OR EXCEED 12.5%) 6.42%
-----------------
CLASS HE: B-1 CERTIFICATES
---------------------------
36. AMOUNT AVAILABLE LESS THE CLASS HE: A DISTRIBUTION AMOUNT
AND CLASS HE: M DISTRIBUTION AMOUNT (INCLUDING MONTHLY SERVICING FEE) $ 2,067,564.72
-----------------
INTEREST ON CLASS HE: B-1 PRINCIPAL BALANCE LESS CLASS HE: B-1
LIQUIDATION LOSS PRINCIPAL AMOUNT
37. CURRENT INTEREST
(A) CLASS HE: B-1 PASS-THROUGH RATE 7.77%
----
(B) CLASS HE: B-1 INTEREST $ 129,500.00
-----------------
38. AMOUNT APPLIED TO UNPAID CLASS HE: B-1 INTEREST SHORTFALL $ 0.00
-----------------
39. REMAINING UNPAID CLASS HE: B-1 INTEREST SHORTFALL $ 0.00
-----------------
40. CLASS HE: B-1 INTEREST DEFICIENCY AMOUNT $ 0.00
-----------------
41. CLASS HE: B-1 INTEREST DEFICIENCY AMOUNT UNPAID $ 0.00
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 6
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
PRINCIPAL
42. CLASS HE: B-1 PRINCIPAL DISTRIBUTION $ 0.00
-----------------
43. CLASS HE: B-1 PRINCIPAL BALANCE $ 20,000,000.00
-----------------
44. AMOUNT, IF ANY, BY WHICH CLASS B-1 FORMULA DISTRIBUTION AMOUNT
EXCEEDS CLASS B DISTRIBUTION AMOUNT $ 0.00
-----------------
CLASS HE: B-2 CERTIFICATES
---------------------------
45. REMAINING AMOUNT AVAILABLE $ 1,938,064.72
-----------------
INTEREST ON CLASS HE: B-2 PRINCIPAL BALANCE LESS LIQUIDATION
LOSS PRINCIPAL AMOUNT
46. CURRENT INTEREST
(A) CLASS HE: B-2 PASS-THROUGH RATE 8.06%
----
(B) CLASS HE: B-2 INTEREST $ 75,562.50
-----------------
47. AMOUNT APPLIED TO UNPAID CLASS HE: B-2 INTEREST SHORTFALL $ 0.00
-----------------
48. REMAINING UNPAID CLASS HE: B-2 INTEREST SHORTFALL $ 0.00
-----------------
PRINCIPAL
49. CLASS HE: B-2 PRINCIPAL DISTRIBUTION $ 0.00
-----------------
50. CLASS HE: B-2 GUARANTY PAYMENT $ 0.00
-----------------
51. CLASS HE: B-2 PRINCIPAL BALANCE $ 11,250,000.00
-----------------
52. AMOUNT, IF ANY, BY WHICH CLASS HE: B-2 FORMULA DISTRIBUTION
AMOUNT AND CLASS HE: B-2 LIQUIDATON LOSS PRINCIPAL AMOUNT
EXCEEDS CLASS HE: B-2 DISTRIBUTION AMOUNT $ 0.00
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 7
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
INTEREST ON CLASS HE: M-1, M-2, B-1, B-2 LIQUIDATION LOSS PRINCIPAL AMOUNT
53. CLASS HE: M-1
(A) CLASS HE: M-1 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(B) INTEREST AT CLASS HE: M-1 PASS-THROUGH RATE ON
CLASS HE: M-1 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(C) AMOUNT APPLIED TO UNPAID CLASS HE: M-1
LIQUIDATION LOSS INTEREST SHORTFALL $ 0.00
-----------------
(D) REMAINING UNPAID CLASS HE: M-1 LIQUIDATION
LOSS INTEREST SHORTFALL $ 0.00
-----------------
54. CLASS HE: M-2
(A) CLASS HE: M-2 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(B) INTEREST AT CLASS HE: M-2 PASS-THROUGH RATE ON
CLASS HE: M-2 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(C) AMOUNT APPLIED TO UNPAID CLASS HE: M-2
LIQUIDATION LOSS INTEREST SHORTFALL $ 0.00
-----------------
(D) REMAINING UNPAID CLASS HE: M-2 LIQUIDATION
LOSS INTEREST SHORTFALL $ 0.00
-----------------
55. CLASS HE: B-1
(A) CLASS HE: B-1 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(B) INTEREST AT CLASS HE: B-1 PASS-THROUGH RATE ON
CLASS HE: B-1 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(C) AMOUNT APPLIED TO UNPAID CLASS HE: B-1
LIQUIDATION LOSS INTEREST SHORTFALL $ 0.00
-----------------
(D) REMAINING UNPAID CLASS HE: B-1 LIQUIDATION
LOSS INTEREST SHORTFALL $ 0.00
-----------------
56. CLASS HE: B-2
(A) CLASS HE: B-2 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(B) INTEREST AT CLASS HE: B-2 PASS-THROUGH RATE ON
CLASS HE: B-2 LIQUIDATION LOSS PRINCIPAL AMOUNT $ 0.00
-----------------
(C) AMOUNT APPLIED TO UNPAID CLASS HE: B-2
LIQUIDATION LOSS INTEREST SHORTFALL $ 0.00
-----------------
(D) REMAINING UNPAID CLASS HE: B-2 LIQUIDATION
LOSS INTEREST SHORTFALL $ 0.00
-----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 8
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
CLASS HE: A, CLASS HE: M, AND CLASS HE: B CERTIFICATES
---------------------------------------------------------
57. POOL SCHEDULED PRINCIPAL BALANCE $ 481,700,832.95
-----------------
(A) FIXED RATE LOANS $ 365,080,073.36
-----------------
(B) ADJUSTABLE RATE LOANS $ 116,620,759.59
----------------
58. POOL FACTORS
(A) CLASS HE: A-1A ARM POOL FACTOR 1.00000000
-----------------
(B) CLASS HE: A-1B ARM POOL FACTOR .96812037
-----------------
(C) CLASS HE: A-1 POOL FACTOR .85790546
-----------------
(D) CLASS HE: A-2 POOL FACTOR 1.00000000
-----------------
(E) CLASS HE: A-3 POOL FACTOR 1.00000000
-----------------
(F) CLASS HE: A-4 POOL FACTOR 1.00000000
-----------------
(G) CLASS HE: A-5 POOL FACTOR 1.00000000
-----------------
(H) CLASS HE: A-6 POOL FACTOR 1.00000000
-----------------
(I) CLASS HE: M-1 POOL FACTOR 1.00000000
-----------------
(J) CLASS HE: M-2 POOL FACTOR 1.00000000
-----------------
(K) CLASS HE: B-1 POOL FACTOR 1.00000000
-----------------
(L) CLASS HE: B-2 POOL FACTOR 1.00000000
-----------------
59. LOANS DELINQUENT
TOTAL HE FIXED
(A) 31-59 DAYS 4,520,413.78 75
--------------- -------
(B) 60-89 DAYS 903,805.90 16
--------------- -------
(C) 90 OR MORE DAYS 46,707.21 1
--------------- -------
ADJUSTABLE RATE
(A) 31-59 DAYS 882,546.75 10
--------------- -------
(B) 60-89 DAYS 326,039.13 2
--------------- -------
(C) 90 OR MORE DAYS 219,144.41 2
--------------- -------
60. PRINCIPAL BALANCE OF DEFAULTED CONTRACTS
TOTAL HE FIXED CONTRACTS $ 854,209.63
-----------------
ADJUSTABLE RATE CONTRACTS $ 0.00
-----------------
61. NUMBER OF LIQUIDATED CONTRACTS AND NET LIQUIDATED LOSS
TOTAL HE FIXED CONTRACTS # 0 $ 0.00
-------- -----------------
ADJUSTABLE RATE CONTRACTS # 0 $ 0.00
-------- -----------------
</TABLE>
<PAGE>
GREEN TREE FINANCIAL CORPORATION
CERTIFICATES FOR HOME EQUITY LOANS
GREEN TREE TRUST
1998 - C
MONTHLY REPORT
AUGUST 1998
PAGE 9
DISTRIBUTION DATE: 9/15/98
---------------------
CUSIP# 393505 G22 G30 G48
---------------------
G55 G63 G71 G89 G97
---------------------
H21 H39 H47 H54 H62
---------------------
TRUST ACCOUNT: 3336598-0
---------------------
<TABLE>
<CAPTION>
<S> <C> <C>
62. NUMBER OF LOANS REMAINING
TOTAL HE FIXED CONTRACTS 6,647
-----------------
ADJUSTABLE RATE CONTRACTS 991
-----------------
63. PRE-FUNDED ARM AMOUNT $ 0.00
-----------------
64. PRE-FUNDED FIXED RATE AMOUNT $ 0.00
-----------------
CLASS C SUBSIDIARY CERTIFICATES
-------------------------------
65. MONTHLY SERVICING FEE $ 304,301.57
-----------------
66. CLASS C MASTER RESIDUAL PAYMENT $ 1,558,200.65
-----------------
</TABLE>
PLEASE CONTACT THE BONDHOLDER RELATIONS DEPARTMENT OF U.S. BANK TRUST
NATIONAL ASSOCIATION AT (612) 973-5800 WITH ANY QUESTIONS REGARDING THIS
STATEMENT OR YOUR DISTRIBUTION.
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