<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): May 28, 1998
GREEN TREE FINANCIAL CORPORATION
--------------------------------
Delaware 01-08916 41-1807858
- --------------------------------------------------------------------------------
(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
- --------------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 293-3400
--------------------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
--------------------------------
Not applicable.
Item 2. Acquisition or Disposition of Assets.
------------------------------------
Not applicable.
Item 3. Bankruptcy or Receivership.
-------------------------
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
----------------------------------------------
Not applicable.
Item 5. Other Events.
------------
Not applicable.
Item 6. Resignations of Registrant's Directors.
--------------------------------------
Not applicable.
Item 7. Financial Statements and Exhibits.
---------------------------------
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
2
<PAGE>
(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Information with respect to fixed-rate home
equity loan contracts and adjustable rate home
equity loan contracts transferred to the trust
formed in connection with the $500,000,000
(Approximate) Certificates for Home Equity
Loans, Series 1998-C, 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
3
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
99.1 Information with respect to fixed-rate home equity
loan contracts and adjustable rate home equity loans
transferred to the trust formed in connection with
the $500,000,000 (Approximate) Certificates for Home
Equity Loans, Series 1998-C, issued by Green Tree
Financial Corporation, as Seller and Servicer.
4
<PAGE>
EXHIBIT 99.1
$500,000,000 (APPROXIMATE)
CERTIFICATES FOR HOME EQUITY LOANS
SERIES 1998-C
INFORMATION REGARDING CERTAIN INITIAL AND ADDITIONAL CONTRACTS
Set forth below is information regarding fixed-rate home equity loan contracts
and adjustable rate home equity loan contracts transferred to the Trust on May
28, 1998. The information below includes the Initial Contracts described in the
Prospectus Supplement dated May 20, 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.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF % OF
FIXED-RATE LOANS FIXED-RATE LOANS
NUMBER OF BY NUMBER OF AGGREGATE PRINCIPAL BY OUTSTANDING
LOANS AS OF LOANS AS BALANCE OUTSTANDING PRINCIPAL BALANCE
CUT-OFF DATE OF CUT-OFF DATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE
------------ ----------------- ------------------- ------------------
<S> <C> <C> <C> <C>
Alabama................. 263 3.82% $ 14,055,642.03 3.70%
Arizona................. 138 2.01 7,645,657.43 2.01
Arkansas................ 33 .48 1,650,403.73 .43
California.............. 304 4.42 21,030,266.99 5.53
Colorado................ 119 1.73 6,098,941.90 1.60
Connecticut............. 83 1.21 5,208,524.31 1.37
Delaware................ 32 .47 2,231,611.78 .59
District of Columbia.... 13 .19 581,446.17 .15
Florida................. 288 4.19 15,407,501.48 4.05
Georgia................. 172 2.50 9,489,610.10 2.50
Idaho................... 33 .48 1,915,507.04 .50
Illinois................ 417 6.06 23,986,831.41 6.31
Indiana................. 182 2.65 8,216,497.94 2.16
Iowa.................... 126 1.83 6,013,073.78 1.58
Kansas.................. 143 2.08 7,352,599.96 1.93
Kentucky................ 114 1.66 5,890,814.59 1.55
Louisiana............... 104 1.51 5,367,140.76 1.41
Maine................... 13 .19 665,367.94 .18
Maryland................ 164 2.38 8,504,914.58 2.24
Massachusetts........... 94 1.37 7,140,917.46 1.88
Michigan................ 404 5.87 23,196,235.75 6.10
Minnesota............... 147 2.14 7,229,046.25 1.90
Mississippi............. 67 .97 2,530,947.43 .67
Missouri................ 244 3.55 12,061,876.74 3.18
Montana................. 12 .17 807,441.76 .21
Nebraska................ 74 1.08 4,071,395.17 1.07
Nevada.................. 75 1.09 6,378,389.33 1.68
New Hampshire........... 10 .15 553,121.43 .15
New Jersey.............. 99 1.44 7,250,745.47 1.91
New Mexico.............. 38 .55 2,350,706.82 .62
New York................ 232 3.37 13,702,166.48 3.61
North Carolina.......... 384 5.58 20,286,425.87 5.34
North Dakota............ 21 .31 1,079,566.29 .28
Ohio.................... 484 7.03 25,757,192.16 6.79
Oklahoma................ 55 .80 2,173,403.47 .57
Oregon.................. 46 .67 2,344,621.88 .62
Pennsylvania............ 434 6.30 23,492,504.30 6.18
Rhode Island............ 20 .29 1,053,833.00 .28
South Carolina.......... 193 2.81 10,477,499.99 2.76
South Dakota............ 15 .22 825,796.08 .22
Tennessee............... 136 1.98 8,246,252.62 2.17
Texas................... 283 4.11 11,615,059.43 3.06
Utah.................... 71 1.03 3,916,632.90 1.03
Vermont................. 4 .05 115,370.59 .03
Virginia................ 193 2.81 12,874,830.61 3.39
Washington.............. 89 1.29 5,271,391.94 1.39
West Virginia........... 35 .51 2,001,448.14 .53
Wisconsin............... 169 2.46 9,364,466.47 2.46
Wyoming................. 9 .13 507,740.66 .13
----- ------ --------------- ------
Total............... 6,878 100.00% $379,999,380.41 100.00%
===== ====== =============== ======
</TABLE>
2
<PAGE>
YEARS OF ORIGINATION--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF FIXED-
RATE LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
1995.................... 1 $ 39,093.06 .01%
1996.................... 6 217,002.33 .06
1997.................... 279 13,773,223.52 3.62
1998.................... 6,592 365,970,061.50 96.31
----- --------------- ------
Total............... 6,878 $379,999,380.41 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL LOAN AMOUNTS--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF FIXED-
RATE LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL LOAN NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS) AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than $ 10,000...... 24 $ 173,027.41 .05%
$ 10,000 to $ 19,999.... 1,142 16,794,229.95 4.42
$ 20,000 to $ 29,999.... 1,049 25,780,617.36 6.78
$ 30,000 to $ 39,999.... 817 28,069,366.09 7.39
$ 40,000 to $ 49,999.... 736 32,770,650.00 8.62
$ 50,000 to $ 59,999.... 718 39,193,394.55 10.32
$ 60,000 to $ 69,999.... 550 35,330,553.15 9.30
$ 70,000 to $ 79,999.... 402 29,856,317.13 7.86
$ 80,000 to $ 89,999.... 319 26,802,788.06 7.05
$ 90,000 to $ 99,999.... 254 23,971,103.30 6.31
$100,000 to $109,999.... 184 19,203,425.22 5.05
$110,000 to $119,999.... 171 19,566,614.78 5.15
$120,000 to $129,999.... 127 15,808,975.35 4.16
$130,000 to $139,999.... 79 10,614,772.54 2.79
$140,000 to $149,999.... 71 10,269,832.21 2.70
$150,000 to $159,999.... 50 7,712,055.57 2.03
$160,000 to $169,999.... 36 5,885,617.76 1.55
$170,000 to $179,999.... 32 5,596,047.48 1.47
$180,000 to $189,999.... 21 3,865,590.37 1.02
$190,000 to $199,999.... 22 4,296,443.86 1.13
$200,000 to $249,999.... 48 10,233,167.39 2.69
$250,000 to $299,999.... 16 4,318,254.77 1.14
Greater than $299,999... 12 3,885,536.09 1.02
----- --------------- ------
Total............... 6,878 $379,999,380.41 100.00%
===== =============== ======
</TABLE>
3
<PAGE>
LOAN RATES--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF FIXED-RATE
LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
RANGE OF LOANS BY LOAN RATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- --------------------------- ------------------ ------------------- -----------------------
<S> <C> <C> <C>
Less than 9.001%........... 85 $ 8,739,448.64 2.30%
9.001 to 10.000%.......... 512 48,408,739.10 12.74
10.001 to 11.000%.......... 1,431 119,068,213.23 31.33
11.001 to 12.000%.......... 1,149 67,744,354.25 17.83
12.001 to 13.000%.......... 1,580 66,090,622.39 17.39
13.001 to 14.000%.......... 1,383 47,149,342.28 12.41
14.001 to 15.000%.......... 484 15,489,402.05 4.08
15.001 to 16.000%.......... 152 4,915,371.01 1.29
16.001 to 17.000%.......... 69 1,747,931.71 .46
Greater than 17.000%....... 33 645,955.75 .17
----- --------------- ------
Total.................. 6,878 $379,999,380.41 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF FIXED-RATE
LOANS BY
MONTHS REMAINING TO AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
SCHEDULED MATURITY NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------- ------------------ ------------------- -----------------------
<S> <C> <C> <C>
Fewer than 31........... 2 $ 70,717.56 .02%
31 to 60................ 65 1,068,624.89 .28
61 to 90................ 48 1,229,168.69 .32
91 to 120............... 432 12,119,573.87 3.19
121 to 150.............. 45 1,515,443.41 .40
151 to 180.............. 2,619 126,732,236.33 33.35
181 to 210.............. 28 792,343.82 .21
211 to 240.............. 2,148 121,748,796.65 32.04
241 to 270.............. 3 150,800.00 .04
271 to 300.............. 829 57,230,869.43 15.06
301 to 330.............. 2 142,999.24 .04
331 to 360.............. 657 57,197,904.51 15.05
----- --------------- ------
Total............... 6,878 $379,999,380.41 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF
FIXED-RATE % OF FIXED-RATE
LOANS BY LOANS BY
NUMBER OF AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF LOANS LOANS AS OF BALANCE OUTSTANDING BALANCE AS OF
AS OF CUT-OFF DATE CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
------------------ ------------ ------------------- -----------------------
<S> <C> <C> <C> <C>
First................... 3,992 58.04% $297,471,850.51 78.28%
Second.................. 2,866 41.67 82,075,762.64 21.60
Third................... 20 .29 451,747.26 .12
----- ------ --------------- ------
Total............... 6,878 100.00% $379,999,390.41 100.00%
===== ====== =============== ======
</TABLE>
4
<PAGE>
LOAN-TO-VALUE RATIO--FIXED-RATE LOANS
<TABLE>
<CAPTION>
% OF FIXED-RATE
LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
LOAN-TO-VALUE RATIO AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ------------------ ------------------- -----------------------
<S> <C> <C> <C>
Less than 10.0001%...... 4 $ 49,079.01 .01%
10.0001 to 20.0000%..... 19 371,708.83 .10
20.0001 to 30.0000%..... 40 1,074,899.26 .28
30.0001 to 40.0000%..... 73 2,516,134.77 .66
40.0001 to 50.0000%..... 83 3,439,397.45 .91
50.0001 to 60.0000%..... 153 5,948,351.51 1.57
60.0001 to 70.0000%..... 256 11,663,079.53 3.07
70.0001 to 80.0000%..... 885 45,523,176.60 11.98
80.0001 to 90.0000%..... 2,365 136,094,929.40 35.81
Greater than 90.0000%... 3,000 173,318,624.05 45.61
----- --------------- ------
Total............... 6,878 $379,999,380.41 100.00%
===== =============== ======
</TABLE>
5
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF MORTGAGED PROPERTIES--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
% OF ADJUSTABLE
ADJUSTABLE RATE LOANS
RATE LOANS AGGREGATE PRINCIPAL BY OUTSTANDING
BY NUMBER OF BALANCE PRINCIPAL
NUMBER OF LOANS LOANS AS OUTSTANDING AS OF BALANCE AS OF
AS OF CUT-OFF DATE OF CUT-OFF DATE CUT-OFF DATE CUT-OFF DATE
------------------ --------------- ------------------- --------------
<S> <C> <C> <C> <C>
Alabama................. 49 4.79% $ 4,424,040.84 3.69%
Arizona................. 21 2.05 3,355,775.37 2.80
California.............. 104 10.16 18,211,301.37 15.17
Colorado................ 34 3.32 4,423,890.28 3.69
Connecticut............. 6 .59 606,227.50 .51
Delaware................ 1 .10 27,986.93 .02
District of Columbia.... 4 .39 479,089.83 .40
Florida................. 23 2.25 2,308,390.79 1.92
Georgia................. 34 3.32 3,567,738.37 2.97
Idaho................... 6 .59 924,883.38 .77
Illinois................ 29 2.83 3,602,592.97 3.00
Indiana................. 13 1.27 1,475,516.88 1.23
Iowa.................... 2 .20 135,467.98 .11
Kansas.................. 11 1.06 1,442,841.13 1.20
Kentucky................ 20 1.96 1,672,340.72 1.39
Louisiana............... 7 .68 599,745.40 .50
Maine................... 3 .29 183,723.90 .15
Maryland................ 58 5.66 8,439,971.39 7.03
Massachusetts........... 7 .68 796,421.81 .66
Michigan................ 57 5.57 4,974,857.64 4.15
Minnesota............... 4 .39 358,760.28 .30
Missouri................ 15 1.47 1,163,274.95 .97
Montana................. 1 .10 109,572.49 .09
Nebraska................ 2 .20 135,009.80 .11
Nevada.................. 6 .59 1,092,305.24 .91
New Hampshire........... 4 .39 302,757.43 .25
New Jersey.............. 8 .78 1,042,772.19 .87
New Mexico.............. 6 .59 670,999.44 .56
New York................ 11 1.08 1,130,443.08 .94
North Carolina.......... 37 3.62 2,994,591.53 2.50
Ohio.................... 128 12.50 12,592,699.26 10.49
Oklahoma................ 2 .20 98,507.52 .08
Oregon.................. 42 4.11 5,539,317.71 4.62
Pennsylvania............ 51 4.99 5,233,069.90 4.36
Rhode Island............ 6 .59 882,339.18 .74
South Carolina.......... 10 .98 895,433.37 .76
Tennessee............... 17 1.66 1,420,159.55 1.18
Texas................... 26 2.54 2,819,500.54 2.35
Utah.................... 26 2.54 3,381,258.60 2.82
Virginia................ 19 1.86 2,647,125.03 2.21
Washington.............. 81 7.91 11,397,734.62 9.50
West Virginia........... 12 1.17 595,954.21 .50
Wisconsin............... 20 1.96 1,842,699.29 1.54
----- ------ --------------- ------
Total............... 1,023 100.00% $119,999,389.69 100.00%
===== ====== =============== ======
</TABLE>
6
<PAGE>
YEARS OF ORIGINATION--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
1997.................... 111 $ 11,499,791.21 9.58%
1998.................... 912 108,499,598.48 90.42
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
DISTRIBUTION OF ORIGINAL LOAN AMOUNTS--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
LOANS BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
ORIGINAL LOAN AMOUNT NUMBER OF LOANS BALANCE OUTSTANDING BALANCE AS OF
(IN DOLLARS) AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
-------------------- ------------------ ------------------- ---------------------
<S> <C> <C> <C>
Less than$ 20,000....... 3 $ 55,892.53 .05%
$ 20,000 to $ 29,999.... 12 304,770.10 .25
$ 30,000 to $ 39,999.... 19 647,338.00 .54
$ 40,000 to $ 49,999.... 49 2,229,691.50 1.86
$ 50,000 to $ 59,999.... 86 4,714,255.58 3.93
$ 60,000 to $ 69,999.... 60 3,864,063.53 3.22
$ 70,000 to $ 79,999.... 71 5,257,719.71 4.38
$ 80,000 to $ 89,999.... 86 7,261,816.53 6.05
$ 90,000 to $ 99,999.... 67 6,340,896.10 5.28
$100,000 to $109,999.... 81 8,496,516.53 7.08
$110,000 to $119,999.... 81 9,275,773.80 7.73
$120,000 to $129,999.... 79 9,845,579.15 8.20
$130,000 to $139,999.... 58 7,803,415.86 6.50
$140,000 to $149,999.... 34 4,904,701.51 4.09
$150,000 to $159,999.... 36 5,590,949.15 4.66
$160,000 to $169,999.... 38 6,242,040.82 5.20
$170,000 to $179,999.... 28 4,849,154.22 4.04
$180,000 to $189,999.... 28 5,153,579.30 4.29
$190,000 to $199,999.... 17 3,304,011.47 2.75
$200,000 to $249,999.... 45 10,027,200.93 8.37
$250,000 to $299,999.... 22 5,958,497.88 4.97
Greater than $299,999... 23 7,871,525.49 6.56
----- --------------- ------
Total............... 1,023 $119,999,368.69 100.00%
===== =============== ======
</TABLE>
7
<PAGE>
CURRENT LOAN RATES--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS BY
RANGE OF LOANS BY NUMBER OF LOANS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
LOAN RATE AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
----------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 9.001%........ 503 $66,367,995.60 55.29%
9.001 to 10.000%........ 288 34,000,308.21 28.33
10.001 to 11.000%....... 134 11,963,896.65 9.97
11.001 to 12.000%....... 54 4,521,494.77 3.77
12.001 to 13.000%....... 22 1,833,030.92 1.53
13.001 to 14.000%....... 16 960,254.51 .80
14.001 to 15.000%....... 4 307,064.69 .26
15.001 to 16.000%....... 1 30,348.27 .03
16.001 to 17.000%....... 1 24,996.07 .02
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
MONTHS REMAINING TO AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS BY
SCHEDULED MATURITY NUMBER OF LOANS 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>
331 to 345.............. 1 $ 51,000.00 .04%
346 to 360.............. 1,022 $119,948,389.69 99.96%
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
LIEN POSITION--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
LOANS BY % OF
NUMBER OF LOANS AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS BY
NUMBER OF LOANS AS OF CUT-OFF BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
AS OF CUT-OFF DATE DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
------------------ --------------- ------------------- --------------------------
<S> <C> <C> <C> <C>
First................... 1,023 100.00% $119,999,389.69 100.00%
----- ------ --------------- ------
Total............... 1,023 100.00% $119,999,389.69 100.00%
===== ====== =============== ======
</TABLE>
LOAN-TO-VALUE RATIO--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS BY
NUMBER OF LOANS BALANCE OUTSTANDING OUTSTANDING PRINCIPAL
LOAN-TO-VALUE RATIO AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
- ------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
30.0001 to 40.0000%..... 3 $ 172,887.26 .14%
40.0001 to 50.0000%..... 11 745,798.78 .52
50.0001 to 60.0000%..... 5 486,702.67 .39
60.0001 to 70.0000%..... 32 3,085,627.07 2.57
70.0001 to 80.0000%..... 235 24,617,622.02 20.51
80.0001 to 90.0000%..... 599 74,708,806.83 62.27
Greater than 90.0000%... 138 16,201,945.06 13.50
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
8
<PAGE>
MONTH OF NEXT RATE ADJUSTMENT--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS
NUMBER OF LOANS BALANCE OUTSTANDING BY OUTSTANDING PRINCIPAL
MONTH OF NEXT RATE ADJUSTMENT AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
- ----------------------------- ------------------ ------------------- --------------------------
<S> <C> <C> <C>
May 1998.................... 3 $ 290,720.97 .24%
June 1998................... 5 614,024.58 .51
July 1998................... 1 59,737.76 .05
August 1998................. 8 745,996.04 .62
September 1998.............. 8 911,423.32 .76
February 1999............... 3 562,996.76 .47
March 1999.................. 4 498,775.66 .42
May 1999.................... 3 248,519.54 .21
June 1999................... 11 828,946.90 .69
July 1999................... 6 711,276.18 .59
August 1999................. 1 31,550.34 .03
September 1999.............. 3 239,340.67 .20
October 1999................ 11 1,315,277.19 1.10
November 1999............... 20 2,037,489.52 1.70
December 1999............... 38 4,416,057.64 3.68
January 2000................ 128 13,437,641.08 11.20
February 2000............... 306 36,038,384.61 30.03
March 2000.................. 350 44,031,063.48 36.68
April 2000.................. 88 10,403,812.51 8.67
May 2000.................... 2 150,900.00 .13
December 2000............... 1 22,979.03 .02
January 2001................ 1 32,864.93 .03
February 2001............... 8 862,618.96 .72
March 2001.................. 11 998,290.00 .83
April 2001.................. 3 506,700.00 .42
----- --------------- ------
Total................... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
9
<PAGE>
DISTRIBUTION OF GROSS MARGIN--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
AGGREGATE PRINCIPAL ADJUSTABLE RATE LOANS
NUMBER OF LOANS BALANCE OUTSTANDING BY OUTSTANDING PRINCIPAL
GROSS MARGIN AS OF CUT-OFF DATE AS OF CUT-OFF DATE BALANCE AS OF CUT-OFF DATE
- ------------ ------------------ ------------------- --------------------------
<S> <C> <C> <C>
Less than 4.000%........ 2 $ 292,235.72 .24%
4.000 to 4.249%......... 2 124,391.60 .10
4.250 to 4.499%......... 2 290,914.66 .24
4.500 to 4.749%......... 7 579,570.57 .48
4.750 to 4.999%......... 9 1,261,694.47 1.05
5.000 to 5.249%......... 24 2,133,450.18 1.78
5.250 to 5.499%......... 43 4,610,111.32 3.84
5.500 to 5.749%......... 124 13,590,044.65 11.33
5.750 to 5.999%......... 90 11,804,639.50 9.84
6.000 to 6.249%......... 126 14,760,248.25 12.30
6.250 to 6.499%......... 55 6,011,632.58 5.01
6.500 to 6.749%......... 123 16,488,870.21 13.74
6.750 to 6.999%......... 171 21,627,831.43 18.01
7.000 to 7.249%......... 134 15,799,171.70 13.17
7.250 to 7.499%......... 40 4,088,482.37 3.41
7.500 to 7.749%......... 17 1,884,689.40 1.57
7.750 to 7.999%......... 21 2,034,601.48 1.70
8.000 to 8.249%......... 5 404,107.79 .34
8.250 to 8.499%......... 3 236,466.91 .20
8.500 to 8.749%......... 10 998,490.82 .83
8.750 to 8.999%......... 3 284,381.68 .24
9.000 to 9.249%......... 5 261,517.28 .22
9.250 to 9.499%......... 2 239,420.41 .20
9.500 to 9.749%......... 3 114,505.00 .10
Greater than 9.749%..... 2 77,919.71 .06
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
10
<PAGE>
MAXIMUM LOAN RATES--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE LOANS
NUMBER OF LOANS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT-OFF BALANCE OUTSTANDING BALANCE AS OF
MAXIMUM LOAN RATES DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------ --------------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 14.000%....... 141 $ 19,333,835.71 16.11%
14.000 to 14.249%....... 14 1,891,263.13 1.58
14.250 to 14.499%....... 51 6,242,504.75 5.20
14.500 to 14.749%....... 89 10,442,057.20 8.70
14.750 to 14.999%....... 150 19,121,527.38 15.93
15.000 to 15.249%....... 48 6,061,628.96 5.05
15.250 to 15.499%....... 83 9,875,369.34 8.23
15.500 to 15.749%....... 83 7,271,209.17 6.06
15.750 to 15.999%....... 84 11,724,418.98 9.77
16.000 to 16.249%....... 27 2,612,464.22 2.18
16.250 to 16.499%....... 50 4,526,019.99 3.77
16.500 to 16.749%....... 24 2,964,716.71 2.47
16.750 to 16.999%....... 52 5,719,750.96 4.77
17.000 to 17.249%....... 24 2,229,345.96 1.86
17.250 to 17.499%....... 19 1,686,578.35 1.41
17.500 to 17.749%....... 14 1,192,961.86 .99
17.750 to 17.999%....... 25 2,277,636.25 1.90
18.000 to 18.249%....... 13 1,283,814.01 1.07
18.250 to 18.499%....... 7 483,516.45 .40
18.500 to 18.749%....... 6 432,777.95 .36
18.750 to 18.999%....... 9 654,999.79 .55
19.000 to 19.249%....... 7 462,399.28 .39
19.250 to 19.499%....... 5 290,938.00 .24
19.500 to 19.749%....... 2 118,475.67 .10
19.750 to 19.999%....... 10 736,761.59 .61
Greater than 19.999%.... 6 362,409.03 .30
----- --------------- ------
Total............... 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
11
<PAGE>
MINIMUM LOAN RATES--ADJUSTABLE RATE LOANS
<TABLE>
<CAPTION>
% OF
ADJUSTABLE RATE
NUMBER OF LOANS
LOANS AGGREGATE PRINCIPAL BY OUTSTANDING PRINCIPAL
AS OF CUT- BALANCE OUTSTANDING BALANCE AS OF
MINIMUM LOAN RATES OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------ ---------- ------------------- ------------------------
<S> <C> <C> <C>
Less than 7.250%...... 31 $ 4,490,437.68 3.74%
7.250 to 7.499%...... 10 1,335,336.38 1.11
7.500 to 7.749%...... 39 5,163,165.40 4.30
7.750 to 7.999%...... 131 18,022,787.70 15.03
8.000 to 8.249%...... 21 2,916,337.76 2.43
8.250 to 8.499%...... 53 8,855,660.69 7.38
8.500 to 8.749%...... 91 10,392,724.18 8.66
8.750 to 8.999%...... 117 14,919,641.05 12.44
9.000 to 9.249%...... 44 5,225,239.52 4.35
9.250 to 9.499%...... 82 8,221,480.24 6.85
9.500 to 9.749%...... 64 7,644,923.97 6.37
9.750 to 9.999%...... 93 12,250,793.15 10.21
10.000 to 10.249%...... 29 2,997,265.43 2.50
10.250 to 10.499%...... 48 4,510,394.88 3.76
10.500 to 10.749%...... 18 1,698,414.65 1.42
10.750 to 10.999%...... 38 3,281,585.20 2.73
11.000 to 11.249%...... 21 1,814,235.45 1.51
11.250 to 11.499%...... 13 876,090.63 .73
11.500 to 11.749%...... 16 1,403,989.96 1.17
11.750 to 11.999%...... 10 883,313.23 .74
12.000 to 12.249%...... 7 602,646.43 .50
12.250 to 12.499%...... 5 353,343.99 .29
12.500 to 12.749%...... 2 139,983.26 .12
12.750 to 12.999%...... 7 676,936.22 .56
13.000 to 13.249%...... 5 361,934.73 .30
13.250 to 13.499%...... 2 52,643.06 .04
13.500 to 13.749%...... 2 118,475.67 .10
Greater than 13.749%... 13 789,610.08 .66
----- --------------- ------
Total................ 1,023 $119,999,389.69 100.00%
===== =============== ======
</TABLE>
12
