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Previous: ASSET SECURITIZATION CORP, S-3/A, 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
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 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 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
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:
SECUTIZED 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 September 15, 1998.
<PAGE>
GREEN TREE FINANCIAL CORP.
NET INTEREST MARGIN TRUST 1994-A
AUGUST, 1998
PAYMENT: SEPTEMBER 15, 1998
6.90% SECURITIZED NET INTEREST MARGIN CERTIFICATES
CUSIP # 393534AA0
---------------
TRUST ACCOUNT # 33-31829-0
---------------
DISTRIBUTION DATE: Sept. 15, 1998
---------------
<TABLE>
<CAPTION>
PER $1,000
SECURITIZED NET INTEREST MARGIN CERTIFICATES ORIGINAL
- -------------------------------------------- -------------
<S> <C> <C> <C>
1. Amount Available 4,886,735.00
---------------
Interest
2. Aggregate Interest 1,098,252.10 2.16191358
--------------- -------------
3. Amount Applied to:
(a) accrued but unpaid Interest
4. Remaining:
(a) accrued but unpaid Interest
5. Monthly Interest 1,098,252.10
---------------
Principal
6. Current month's principal distribution 3,788,482.90 7.45764350
--------------- -------------
7. Remaining outstanding principal balance 187,211,882.09 368.5273269
--------------- -------------
Pool Factor 0.36852733
---------------
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 498,166,456.96**
---------------
9. Aggregate amount on deposit in reserve funds:
(i) attributable to the Residual Assets 73,010,218.14
---------------
(ii) attributable to this securitization 25,324,387.47
---------------
10. Aggregate principal balance of loans
refinanced by Green Tree Financial 4,702,647.22
---------------
11. Weighted average CPR 17.70%
---------------
12. Weighted average CDR 1.74%
---------------
13. Annualized net loss percentage 0.93%
---------------
14. Delinquency 30-59 day 0.79%
---------------
60-89 day 0.25%
---------------
90+ day 0.44%
---------------
Total 30+ 1.48%
---------------
</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 8/15/98.
<PAGE>
GREEN TREE FINANCIAL
NET INTEREST MARGIN TRUST 1994-A
AUGUST, 1998
PAYMENT: SEPTEMBER 15, 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 8,841.25 4,183.02 0.00 13,024.27
MAHCS 1987-B 0.00 0.00 0.00 0.00
MLMI 1987B 0.00 0.00 0.00 0.00
MLMI 1987C 28,334.57 5,279.81 602.58 34,216.96
MLMI 1988E 27,154.53 4,895.16 1,263.26 33,312.95
MLMI 1988H 0.00 5,282.32 5,282.32
MLMI 1988Q 0.00 8,083.25 8,083.25
MLMI 1988X 0.00 6,064.15 6,064.15
MLMI 1989B 0.00 3,822.37 3,822.37
MLMI 1989D 0.00 7,587.14 7,587.14
MLMI 1989F 26,740.50 10,748.76 1,138.36 38,627.62
MLMI 1989H 0.00 0.00 428.65 428.65
MLMI 1990B 0.00 6,109.31 2,252.47 8,361.78
MLMI 1990D 0.00 0.00 1,176.22 1,176.22
MLMI 1990G 74,578.73 11,117.78 2,692.84 88,389.35
MLMI 1990I 0.00 0.00 0.00
MLMI 1991B 0.00 8,135.49 8,135.49
MLMI 1991D 0.00 11,503.72 11,503.72
MLMI 1991G 0.00 17,091.10 17,091.10
MLMI 1991I 0.00 18,012.00 18,012.00
MLMI 1992B 0.00 51,949.94 51,949.94
MLMI 1992D 0.00 32,199.72 32,199.72
GTFC 1992-1 211,647.77 39,716.35 14,665.31 266,029.43
GTFC 1992-2 32,667.14 50,081.75 6,334.81 89,083.70
GTFC 1993-1 53,254.91 45,567.49 19,955.75 118,778.15
GTFC 1993-2 232,718.77 88,424.79 38,635.23 359,778.79
GTFC 1993-3 532,732.48 136,440.61 76,251.42 745,424.51
GTFC 1993-4 0 157,552.15 157,552.15
----------------------------------------------------------------------------
CONVENTIONAL 1,228,670.65 0.00 729,848.18 165,396.90 2,123,915.73
GNMA SERVICING FEES 1,611,207.03 88,496.87 1,699,703.90
FHA Payment (568,935.00) (568,935.46)
SERVICING (277,291.00) (277,290.59)
PREPAYMENT SHORTFALLS (25,580.00) (25,579.51)
Liquidation Losses (115,814.00) (115,813.79)
----------------------------------------------------------------------------
GNMA 623,587.68 88,496.87 712,084.55
----------------------------------------------------------------------------
TOTAL AMOUNT OF GUARANTEE FEES, GNMA EXCESS SPREAD, EXCESS
Serving Fees, and Inside Refinance Payments 2,836,000.28
Payment on Finance 1 Note 2,836,000.28
Allocable to Interest (current) 420,805.51
Allocable to accrued but unpaid Interest 0
Accrued and unpaid Trustee Fees 0
ALLOCABLE TO PRINCIPAL 2,415,194.77
FINANCE 1 NOTE PRINCIPAL BALANCE 70,768,372.74
</TABLE>
<PAGE>
GREEN TREE FINANCIAL
NET INTEREST MARGIN TRUST 1994-A
AUGUST, 1998
PAYMENT: SEPTEMBER 15, 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 14,101.07 540.62 14,641.69
MLMI 1988Q 2,075.96 1,767.93 3,843.89
MLMI 1988X 0.00 1,656.35 1,656.35
MLMI 1989B 0.00 0.00 0.00
MLMI 1989D 0.00 227.33 227.33
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 200,978.21 39,109.79 240,088.00
MLMI 1991B 109,445.49 15,812.24 125,257.73
MLMI 1991D 54,486.49 1,638.92 56,125.41
MLMI 1991G 140,198.06 3,881.41 144,079.47
MLMI 1991I 148,753.06 30,248.49 179,001.55
MLMI 1992B 404,081.16 79,966.24 484,047.40
MLMI 1992D 336,303.70 75,058.18 411,361.88
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 0.00
GTFC 1993-3 0 0.00
GTFC 1993-4 327,214.29 63,189.73 390,404.02
-------------------------------------------
1,737,637.49 313,097.23 2,050,734.72
Total Residual and Inside
Refinance Payments 2,050,734.72
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