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Filed Pursuant to Rule 424(b)(3)
File No. 333-75623
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED SEPTEMBER 13, 1999
(To Prospectus dated September 13, 1999)
$18,000,000 (Approximate)
GREEN TREE
Seller and Servicer
Certificates for Home Improvement Loans
Series 1999-E
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We are offering the Class B-1 certificates through this supplement.
<TABLE>
<CAPTION>
Approximate Pass-Through
Class Principal Amount Rate
- ----- ---------------- ------------
<S> <C> <C>
Class B-1......................................... $18,000,000 10.34%(1)
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Total............................................. $18,000,000
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</TABLE>
(1) Or the weighted average rate of the loans in the pool, if less.
This supplement relates to the offering of the Class B-1 certificates but
does not contain complete information about these certificates. Additional
information is contained in the accompanying prospectus supplement dated
September 13, 1999 and in the related prospectus dated September 13, 1999.
Prospective purchasers are urged to read this supplement, the prospectus
supplement and the prospectus in full.
The Class B-1 certificates will be purchased by the underwriter from Green
Tree and will be offered by the underwriter from time to time to the public in
negotiated transactions or otherwise at varying prices to be determined at the
time of sale. Proceeds to Green Tree from the sale of such certificates, before
deducting expenses, will be approximately $17,778,187.50, plus accrued
interest.
Consider carefully the risk factors beginning on page S-11 in the prospectus
supplement.
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Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if
this prospectus is truthful or complete. Any representation to the contrary is
a criminal offense.
The Attorney General of the State of New York has not passed on or endorsed
the merits of this offering. Any representation to the contrary is unlawful.
These securities will be delivered on or about September 17, 1999.
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Underwriter of the Class B-1 certificates:
Lehman Brothers
The date of this supplement is September 14, 1999.
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UNDERWRITING
The underwriter has agreed, subject to the terms and conditions of the
underwriting agreement, to purchase from us the principal amount of the
certificates set forth opposite its name below.
<TABLE>
<CAPTION>
Principal
Amount of
Class B-1
Underwriter Certificates
- ----------- ------------
<S> <C>
Lehman Brothers Inc. .............................................. $18,000,000
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</TABLE>
In the underwriting agreement, the underwriter has agreed, subject to the
terms and conditions in the agreement, to purchase all of the certificates
offered by this supplement if any certificates are purchased. If the
underwriter defaults, the underwriting agreement provides that, in some
circumstances, the underwriting agreement may be terminated.
SS-2
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For 90 days after the date of this supplement to the prospectus supplement, all
dealers that effect transactions in these securities, whether or not
participating in this offering, may be required to deliver a prospectus with
supplements. This is in addition to the dealers' obligation to deliver a copy
of this prospectus with supplements when acting as underwriters and with
respect to their unsold allotments or subscriptions.
[GreenTree Logo]
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