<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): March 31, 1999
GREEN TREE FINANCIAL CORPORATION
as originator of Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificate
Trust 1999-2
------------------------------------------------------
(Exact name of registrant as specified in its charter)
01-08916
Delaware (333-63265) 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: (651) 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.
-------------
On March 31, 1999, the Registrant transferred approximately
$474,405,462 of manufactured housing installment sale
contracts and installment loan agreements (the "Subsequent
Contracts") to the trust formed in connection with the
$1,100,000,000 (approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1999-2
(the "Trust"), pursuant to the pre-funding provisions of the
Pooling and Servicing Agreement dated March 1, 1999. Filed
herewith as Exhibit 99.1 are tables providing information
with respect to the Subsequent Contracts and the Contracts
in the aggregate. Capitalized terms used herein and not
defined have the meaning assigned in the Pooling and
Servicing Agreement.
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.
2
<PAGE>
Not applicable.
(c) Exhibits.
The following is filed herewith. The exhibit numbers
correspond with Item 601(b) of Regulation S-K.
3
<PAGE>
Exhibit No. Description
----------- -----------
99.1 Information regarding approximately $474,405,462
of Subsequent Contracts to be transferred to the
trust formed in connection with the
$1,100,000,000 (Approximate) Manufactured
Housing Contract Senior/Subordinate Pass-Through
Certificates, Series 1999-2 on March 31, 1999.
4
<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.
GREEN TREE FINANCIAL CORPORATION
By: /s/ Joel H. Gottesman
-----------------------------
Joel H. Gottesman
Senior Vice President, General Counsel
and Secretary
5
<PAGE>
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit Number Page
- -------------- ----
<S> <C> <C>
99.1 Information regarding approximately $474,405,462 of Electronically
Subsequent Contracts to be transferred to the trust Filed
formed in connection with the $1,100,000,000 (Approximate)
Manufactured Housing Contract Senior/Subordinate
Pass-Through Certificates, Series 1999-2 on
March 31, 1998.
</TABLE>
<PAGE>
EXHIBIT 99.1
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CORTIFICATES
SERIES 1999-2
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements to be transferred to the Trust
on March 31, 1999. The information below includes the Subsequent Contracts
described in the Prospectus Supplement dated March 11, 1999 to the prospectus
date March 31, 1999. Unless otherwise defined herein, all capitalized terms have
the meanings set forth in the Prospectus Supplement.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF SUBSEQUENT 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 ................ 1,173 8.56% $ 38,635,789.87 8.14%
Arizona ................ 247 1.80 8,674,189.91 1.83
Arkansas ............... 363 2.65 11,772,302.52 2.48
California ............. 492 3.59 18,362,821.71 3.87
Colorado ............... 256 1.87 9,751,526.76 2.06
Connecticut ............ 4 .03 124,253.15 .03
Delaware ............... 60 .44 1,828,715.58 .39
Florida ................ 755 5.51 28,238,668.98 5.95
Georgia ................ 940 6.86 34,625,611.65 7.30
Idaho .................. 60 .44 2,418,638.13 .51
Illinois ............... 206 1.50 6,565,381.41 1.38
Indiana ................ 258 1.88 7,716,628.62 1.63
Iowa ................... 173 1.26 5,261,148.01 1.11
Kansas ................. 204 1.49 7,510,489.39 1.58
Kentucky ............... 358 2.61 10,936,328.57 2.31
Louisiana .............. 421 3.07 13,495,582.98 2.84
Maine .................. 43 .31 1,241,390.18 .26
Maryland ............... 53 .39 1,601,934.15 .34
Massachusetts .......... 7 .05 227,189.35 .05
Michigan ............... 478 3.49 16,378,800.68 3.45
Minnesota .............. 204 1.49 6,969,834.32 1.47
Mississippi ............ 334 2.44 10,735,876.11 2.26
Missouri ............... 445 3.25 12,554,522.41 2.65
Montana ................ 100 .73 3,985,934.75 .84
Nebraska ............... 56 .41 1,720,390.90 .36
Nevada ................. 122 .89 4,525,569.38 .95
New Hampshire .......... 45 .33 1,558,160.91 .33
New Jersey ............. 4 .03 152,631.40 .03
New Mexico ............. 209 1.53 7,711,096.39 1.63
New York ............... 116 .85 3,348,748.28 .71
North Carolina.......... 1,259 9.19 43,162,233.56 9.10
North Dakota ........... 44 .32 1,289,032.65 .27
Ohio ................... 217 1.58 5,872,952.26 1.24
Oklahoma ............... 366 2.67 12,846,064.71 2.71
Oregon ................. 124 .90 6,842,648.64 1.44
Pennsylvania ........... 156 1.14 5,008,559.47 1.06
Rhode Island ........... 1 .01 94,871.02 .02
South Carolina.......... 604 4.41 23,362,268.62 4.92
South Dakota ........... 112 .82 3,888,036.40 .82
Tennessee .............. 451 3.29 14,472,107.89 3.05
Texas .................. 1,384 10.10 51,636,434.29 10.88
Utah ................... 49 .36 1,891,662.36 .40
Vermont ................ 18 .13 525,842.08 .11
Virginia ............... 217 1.58 6,488,818.08 1.37
Washington ............. 159 1.16 7,702,090.26 1.62
West Virginia .......... 163 1.19 4,485,594.35 .95
Wisconsin .............. 133 .97 3,952,320.50 .83
Wyoming ................ 58 .42 2,186,383.03 .46
Non-U.S. Based ......... 2 .01 67,386.32 .01
------ ------ ----------------- ------
**Totals................ 13,703 100.00% $ 474,405,462.94 100.00%
====== ====== ================= ======
</TABLE>
2
<PAGE>
YEARS OF ORIGINATION OF SUBSEQUENT CONTRACTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION(1) AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT OFF DATE
- ---------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
1986.................... 1 $ 4,739.88 * %
1993.................... 2 35,627.00 .01
1995.................... 2 38,671.96 .01
1996.................... 11 510,938.92 .11
1997.................... 6 200,954.08 .04
1998.................... 155 11,322,067.19 2.39
1999.................... 13,526 462,292,463.91 97.44
------ --------------- ------
Total................ 13,703 $474,405,462.94 100.00%
====== =============== ======
</TABLE>
- ------------------------
* Indicates an amount greater than zero but less than 0.05%.
(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.
DISTRIBUTION OF SUBSEQUENT CONTRACT AMOUNTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS)(1)U AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------------ ------------------- -------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000....... 454 $ 3,561,259.23 .75%
Between $10,000 and
$19,999................ 2,110 32,600,864.77 6.87
Between $20,000 and
$29,999................ 3,435 86,861,540.05 18.31
Between $30,000 and
$39,999................ 3,351 116,326,368.25 24.53
Between $40,000 and
$49,999................ 1,984 88,520,045.87 18.66
Between $50,000 and
$59,999................ 1,279 70,033,070.20 14.76
Between $60,000 and
$69,999................ 744 47,873,011.41 10.09
Between $70,000 and
$79,999................ 234 17,141,888.00 3.61
Between $80,000 and
$89,999................ 39 3,302,633.10 .70
Between $90,000 and
$99,999................ 32 3,037,137.23 .64
Between $100,000 and
$109,999............... 14 1,466,525.39 .31
Between $110,000 and
$119,999............... 8 925,038.52 .19
Between $120,000 and
$129,999............... 8 998,675.07 .21
Between $130,000 and
$139,999............... 5 675,059.11 .14
Between $140,000 and
$149,999............... 2 288,693.51 .06
Between $150,000 and
$159,999............... 1 153,400.50 .03
Between $160,000 and
$169,999............... 0 .00 .00
Between $170,000 and
$179,999............... 1 171,950.50 .04
Between $180,000 and
$189,999............... 0 .00 .00
Between $190,000 and
$199,999............... 0 .00 .00
Over $199.999........... 2 468,302.23 .10
------ --------------- ------
Total................ 13,703 $474,405,462.94 100.00%
====== =============== ======
</TABLE>
- --------
(1) The largest original Contract amount is $240,227.33, which
represents 0.05% of the aggregate principal balance of the Subsequent
Contracts as of the Cut-off Date.
3
<PAGE>
DISTRIBUTION OF SUBSEQUENT
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%................ 374 $ 8,303,000.74 1.75%
61% to 65%................ 115 2,777,365.41 .59
66% to 70%................ 187 5,941,545.16 1.25
61% to 75%................ 229 7,710,163.33 1.63
61% to 80%................ 955 31,555,479.34 6.65
61% to 85%................ 889 29,364,640.99 6.19
86% to 90%................ 4,421 161,296,408.61 34.00
91% to 95%................ 4,137 145,700,343.99 30.71
Over 95%................ 2,396 81,756,515.37 17.23
------ --------------- ------
Total..................... 13,703 $474,405,462.94 100.00%
====== =============== ======
</TABLE>
- --------
(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
SUBSEQUENT 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>
Less than 5.00001%........... 1 $ 117,230.07 .02%
5.00001% to 6.00000%....... 22 1,273,162.57 .27
6.00001% to 7.00000%....... 174 11,819,767.55 2.49
7.00001% to 8.00000%....... 734 38,874,430.06 8.19
8.00001% to 9.00000%....... 1,954 90,712,669.42 19.12
9.00001% to 10.00000%....... 3,395 127,289,024.47 26.83
10.00001% to 11.00000%....... 2,673 90,913,536.62 19.16
11.00001% to 12.00000%....... 2,326 61,649,898.72 13.00
12.00001% to 13.00000%....... 1,655 38,801,072.22 8.18
13.00001% to 14.00000%....... 572 10,765,938.03 2.27
14.00001% to 15.00000%....... 39 618,437.75 .13
15.00001% to 16.00000%....... 116 1,115,361.96 .24
16.00001% to 17.00000%....... 42 454,933.50 .10
Over 17.00000% 0 .00 .00
------ --------------- ------
Total................ 13,703 $474,405,462.94 100.00%
====== =============== ======
</TABLE>
REMAINING MONTHS TO MATURITY OF SUBSEQUENT 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................. 6 $ 57,055.01 .01%
31 to 60................. 299 3,045,751.84 .64
61 to 90................. 353 5,145,551.37 1.08
91 to 120................. 997 17,975,814.68 3.79
121 to 150................. 382 8,385,364.31 1.77
151 to 180................. 2,064 49,867,035.05 10.51
181 to 210................. 145 4,968,272.50 1.05
211 to 240................. 2,352 71,431,763.60 12.67
241 to 270................. 50 2,073,854.27 .44
271 to 300................. 1,398 49,160,914.75 10.36
301 to 330................. 59 2,557,693.71 .54
331 to 360................. 5,598 259,736,391.85 64.34
------ --------------- ------
Total..................... 13,703 $474,405,462.94 100.00%
====== =============== ======
</TABLE>
4
<PAGE>
Set forth below is information regarding the combined pool of Initial Subsequent
Contracts transferred to the Trust on March 31, 1999. Unless otherwise defined
herein, all capitalized terms have the meanings set forth in the Prospectus
Supplement.
5
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF INITIAL AND
SUBSEQUENT 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 ................ 1,963 6.75 $ 62,892,170.67 5.72
Alaska ................. 2 .01 228,309.74 .02
Arizona ................ 575 1.98 22,488,562.34 2.04
Arkansas ............... 607 2.09 18,291,795.90 1.66
California ............. 1,517 5.22 51,205,612.37 4.66
Colorado ............... 579 1.99 29,876,980.28 2.72
Connecticut ............ 6 .02 241,794.32 .02
Delaware ............... 135 .46 4,874,840.35 .44
District of Columbia ... 2 .01 73,691.10 .01
Florida ................ 1,581 5.44 63,024,526.98 5.73
Georgia ................ 1,720 5.92 62,924,035.70 5.72
Hawaii ................. 1 * 7,305.56 *
Idaho .................. 151 .52 7,563,841.35 .69
Illinois ............... 359 1.24 12,592,342.28 1.14
Indiana ................ 645 2.22 26,381,774.06 2.40
Iowa ................... 320 1.10 11,006,982.14 1.00
Kansas ................. 389 1.34 15,603,636.95 1.42
Kentucky ............... 698 2.40 22,655,811.51 2.06
Louisiana .............. 698 2.40 22,472,958.68 2.04
Maine .................. 162 .56 7,321,337.64 .67
Maryland ............... 127 .44 3,450,402.32 .31
Massachusetts .......... 16 .06 459,570.78 .04
Michigan ............... 1,426 4.91 71,501,709.76 6.50
Minnesota .............. 372 1.28 13,164,501.73 1.20
Mississippi ............ 664 2.28 19,362,551.50 1.76
Missouri ............... 865 2.98 26,718,162.80 2.43
Montana ................ 207 .71 9,168,767.46 .83
Nebraska ............... 94 .32 3,831,456.59 .35
Nevada ................. 296 1.02 12,888,968.57 1.17
New Hampshire .......... 95 .33 4,028,283.25 .37
New Jersey ............. 20 .07 565,152.97 .05
New Mexico ............. 509 1.75 19,683,923.90 1.79
New York ............... 314 1.08 11,702,407.60 1.06
North Carolina ......... 2,980 10.25 116,402,295.66 10.58
North Dakota ........... 81 .28 2,615,379.95 .24
Ohio ................... 659 2.27 28,605,296.22 2.60
Oklahoma ............... 600 2.06 20,310,884.65 1.85
Oregon ................. 475 1.63 28,944,812.36 2.63
Pennsylvania ........... 416 1.43 14,505,360.82 1.32
Rhode Island ........... 2 .01 150,711.93 .01
South Carolina ......... 1,335 4.59 49,167,162.63 4.47
South Dakota ........... 171 .59 5,823,830.73 .53
Tennessee .............. 863 2.97 27,585,035.94 2.51
Texas .................. 2,515 8.65 92,086,737.23 8.37
Utah ................... 124 .43 6,675,883.40 .61
Vermont ................ 51 .18 2,564,000.28 .23
Virginia ............... 537 1.85 16,508,304.97 1.50
Washington ............. 445 1.53 27,370,623.11 2.49
West Virginia .......... 367 1.26 10,818,702.09 .98
Wisconsin .............. 227 .78 7,236,496.44 .66
Wyoming ................ 95 .33 4,306,545.85 .39
Non-U.S. Based ......... 2 .01 67,386.32 .01
------ ------ ----------------- ------
**Totals................ 29,060 100.00% $1,099,999,619.53 100.00%
====== ====== ================= ======
</TABLE>
- -------------
* Indicates an amount greater than zero but less than 0.05%
6
<PAGE>
YEARS OF ORIGINATION OF INITIAL AND SUBSEQUENT CONTRACTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE PRINCIPAL OUTSTANDING PRINCIPAL
NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
YEAR OF ORIGINATION(1) AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT OFF DATE
- ---------------------- ------------------- ------------------- ---------------------
<S> <C> <C> <C>
1985.................... 21 $ 107,449.46 .01%
1986.................... 446 2,430,742.98 .22
1987.................... 258 2,437,225.98 .22
1988.................... 467 4,580,992.15 .42
1989.................... 6 103,724.61 .01
1990.................... 1,485 19,744,413.74 1.79
1991.................... 2 51,636.58 .00
1992.................... 3 96,139.65 .01
1993.................... 3 45,387.55 .00
1994.................... 6 217,508.31 .02
1995.................... 11 316,310.35 .03
1996.................... 81 2,307,103.04 .21
1997.................... 417 11,326,640.15 1.03
1998.................... 4,909 331,365,620.01 30.12
1999.................... 20,945 724,868,724.97 65.91
------ ----------------- ------
Total................ 29,060 $1,099,999,619.53 100.00%
====== ================= ======
</TABLE>
* Indicates an amount greater than zero but less than .05%.
(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.
DISTRIBUTION OF ORIGINAL INITIAL
AND SUBSEQUENT CONTRACT AMOUNTS
<TABLE>
<CAPTION>
% OF CONTRACT POOL BY
AGGREGATE OUTSTANDING PRINCIPAL
ORIGINAL CONTRACT NUMBER OF CONTRACTS BALANCE OUTSTANDING BALANCE AS OF
AMOUNT (IN DOLLARS)(1)U AS OF CUT-OFF DATE AS OF CUT-OFF DATE CUT-OFF DATE
- ------------------------ ------------------- -------------------- ---------------------
<S> <C> <C> <C>
Less than $10,000....... 830 $ 6,226,791.96 .57%
Between $10,000 and
$19,999................ 5,349 69,542,311.95 6.32
Between $20,000 and
$29,999................ 6,400 153,147,036.59 13.92
Between $30,000 and
$39,999................ 5,868 201,349,767.41 18.30
Between $40,000 and
$49,999................ 3,499 155,598,080.53 14.15
Between $50,000 and
$59,999................ 2,462 134,510,859.43 12.23
Between $60,000 and
$69,999................ 1,726 111,345,678.92 10.12
Between $70,000 and
$79,999................ 1,036 77,118,627.30 7.01
Between $80,000 and
$89,999................ 635 53,958,439.87 4.91
Between $90,000 and
$99,999................ 488 46,215,166.26 4.20
Between $100,000 and
$109,999............... 316 32,953,791.86 3.00
Between $110,000 and
$119,999............... 172 19,637,777.97 1.79
Between $120,000 and
$129,999............... 126 15,674,795.76 1.42
Between $130,000 and
$139,999............... 66 8,893,851.61 .81
Between $140,000 and
$149,999............... 35 5,033,362.14 .46
Between $150,000 and
$159,999............... 24 3,699,535.45 .34
Between $160,000 and
$169,999............... 12 1,981,094.57 .18
Between $170,000 and
$179,999............... 5 868,473.27 .08
Between $180,000 and
$189,999............... 5 914,930.23 .08
Between $190,000 and
$199,999............... 2 381,527.56 .03
Between $200,000 and
$249,999............... 3 688,112.54 .06
Over $249,999........... 1 259,606.35 .02
------ ----------------- ------
Total................ 29,060 $1,099,999,619.53 100.00%
====== ================= ======
</TABLE>
- --------
(1) The largest original Contract amount is $259,606.35, which represents 0.02%
of the aggregate principal balance of the Initial and Subsequent Contracts
as of the Cut-off Date.
7
<PAGE>
DISTRIBUTION OF ORIGINAL INITIAL
AND SUBSEQUENT 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%................ 2,557 $ 82,628,340.84 7.51%
61% to 65%................ 329 12,552,503.93 1.14
66% to 70%................ 513 20,831,812.12 1.89
61% to 75%................ 644 28,122,495.19 2.56
61% to 80%................ 2,095 79,218,648.85 7.20
61% to 85%................ 2,283 95,866,919.77 8.72
86% to 90%................ 9,583 351,281,872.86 31.94
91% to 95%................ 7,147 292,721,495.62 26.61
Over 95%................ 3,909 136,775,530.35 12.43
------ ----------------- ------
Total..................... 29,060 $1,099,999,619.53 100.00%
====== ================= ======
</TABLE>
- --------
(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
INITIAL ADDITIONAL AND SUBSEQUENT 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>
Less than 5.00001%........... 9 $ 716,331.21 .07%
5.00001% to 6.00000%....... 92 7,173,622.63 .65
6.00001% to 7.00000%....... 2,010 164,316,923.31 14.94
7.00001% to 8.00000%....... 1,820 117,917,667.65 10.72
8.00001% to 9.00000%....... 4,054 206,853,889.60 18.80
9.00001% to 10.00000%....... 6,105 236,928,858.41 21.55
10.00001% to 11.00000%....... 4,429 151,128,257.32 13.74
11.00001% to 12.00000%....... 3,855 101,890,409.05 9.26
12.00001% to 13.00000%....... 2,914 63,948,305.77 5.81
13.00001% to 14.00000%....... 2,744 38,136,697.66 3.47
14.00001% to 15.00000%....... 696 7,722,339.61 .70
15.00001% to 16.00000%....... 248 2,339,571.05 .21
16.00001% to 17.00000%....... 84 926,746.26 .08
Over 17.00000% 0 .00 .00
------ ----------------- ------
Total................ 29,060 $1,099,999,619.53 100.00%
====== ================= ======
</TABLE>
REMAINING MONTHS TO MATURITY OF INITIAL AND SUBSEQUENT 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................. 801 $ 3,595,165.87 0.33%
31 to 60................. 1,216 11,089,230.59 1.01
61 to 90................. 1,416 19,500,995.94 1.77
91 to 120................. 1,827 32,975,065.35 3.00
121 to 150................. 1,072 24,436,694.29 2.22
151 to 180................. 3,851 97,758,825.55 8.89
181 to 210................. 315 10,969,742.37 1.00
211 to 240................. 4,105 130,879,197.90 11.90
241 to 270................. 99 4,223,668.59 0.38
271 to 300................. 2,354 86,974,495.59 7.91
301 to 330................. 109 4,913,154.44 0.45
331 to 360................. 11,895 672,683,383.05 61.15
------ ----------------- ------
Total..................... 29,060 $1,099,999,619.53 100.00%
====== ================= ======
</TABLE>
8
