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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 27, 1999
GREEN TREE FINANCIAL CORPORATION
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Delaware 01-08916 41-1807858
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(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
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(Address of principal executive offices)
Registrant's telephone number, including area code: (651) 293-3400
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant.
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Not applicable.
Item 2. Acquisition or Disposition of Assets.
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Not applicable.
Item 3. Bankruptcy or Receivership.
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Not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
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Not applicable.
Item 5. Other Events.
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Not applicable.
Item 6. Resignations of Registrant's Directors.
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Not applicable.
Item 7. Financial Statements and Exhibits.
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(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
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(c) Exhibits.
The following is filed herewith. The exhibit numbers correspond
with Item 601(b) of Regulation S-K.
Exhibit No. Description
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99.1 Information with respect to manufactured housing
installment sale contracts and installment loan
agreements transferred to the trust formed in
connection with the Manufactured Housing
Contract Senior/Subordinate Pass-Through
Certificates, Series 1999-3, 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
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INDEX TO EXHIBITS
Exhibit Number
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99.1 Information with respect to manufactured housing installment sale
contracts and installment loan agreements transferred to the trust
formed in connection with the Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1999-3,
issued by Green Tree Financial Corporation, as Seller and Servicer.
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EXHIBIT 99.1
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1999-3
INFORMATION REGARDING INITIAL AND ADDITIONAL CONTRACTS
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements transferred to the Trust on May
27, 1999. The information below includes the Initial Contracts described in the
Prospectus Supplement dated May 6, 1999, as well as the Additional Contracts
transferred to the Trust. There will be no 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.
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Set forth below is a description of certain additional characteristics of
the Initial Contracts as of the Cut-off Date.
Geographical Distribution of Contract Obligors(1)
<TABLE>
<CAPTION>
% of Contract
Aggregate Pool by
% of Contract Principal Balance Outstanding
Number of Pool by Number of Outstanding Principal
Contracts as of Contracts as of as of Cut- Balance as of
State Cut-off Date Cut-off Date off Date Cut-off Date
- ----- --------------- ----------------- ----------------- -------------
<S> <C> <C> <C> <C>
Alabama................. 1,314 6.71% $ 43,590,552.39 5.45%
Alaska.................. 2 .01 195,446.67 .02
Arizona................. 413 2.11 18,923,564.88 2.37
Arkansas................ 492 2.51 15,386,400.10 1.92
California.............. 618 3.16 26,359,802.23 3.29
Colorado................ 413 2.11 21,920,297.87 2.74
Connecticut............. 8 .04 251,504.51 .03
Delaware................ 91 .46 3,652,552.94 .46
Florida................. 1,106 5.65 48,659,874.44 6.09
Georgia................. 1,230 6.28 47,870,014.11 5.99
Idaho................... 74 .38 3,441,141.78 .43
Illinois................ 253 1.29 8,395,830.24 1.05
Indiana................. 443 2.26 18,553,558.58 2.32
Iowa.................... 209 1.07 7,145,413.59 .89
Kansas.................. 271 1.38 11,843,416.04 1.48
Kentucky................ 475 2.43 15,415,472.78 1.93
Louisiana............... 538 2.75 18,839,860.81 2.35
Maine................... 130 .66 5,234,583.05 .65
Maryland................ 79 .40 2,253,122.97 .28
Massachusetts........... 10 .05 521,778.07 .07
Michigan................ 916 4.68 46,337,017.81 5.79
Minnesota............... 271 1.38 9,314,369.94 1.16
Mississippi............. 522 2.67 17,507,407.19 2.19
Missouri................ 579 2.96 20,399,586.41 2.55
Montana................. 133 .68 5,357,584.98 .67
Nebraska................ 76 .39 3,186,948.18 .40
Nevada.................. 206 1.05 11,713,812.82 1.46
New Hampshire........... 84 .43 3,496,590.83 .44
New Jersey.............. 11 .06 341,214.77 .04
New Mexico.............. 337 1.72 16,042,539.89 2.01
New York................ 222 1.13 7,942,055.72 .99
North Carolina.......... 2,052 10.49 95,046,616.75 11.90
North Dakota............ 67 .34 2,351,562.54 .29
Ohio.................... 389 1.99 16,059,128.90 2.01
Oklahoma................ 463 2.36 17,045,429.94 2.13
Oregon.................. 230 1.17 16,095,693.12 2.01
Pennsylvania............ 247 1.26 9,055,525.81 1.13
Rhode Island............ 1 .01 30,900.00 *
South Carolina.......... 968 4.94 40,983,812.28 5.12
South Dakota............ 118 .60 4,057,385.53 .51
Tennessee............... 546 2.79 20,585,763.30 2.57
Texas................... 1,698 8.67 66,654,545.61 8.34
Utah.................... 77 .39 4,179,156.27 .52
Vermont................. 54 .28 2,067,972.79 .26
Virginia................ 405 2.07 14,095,930.01 1.76
Washington.............. 242 1.24 16,034,709.07 2.00
West Virginia........... 248 1.27 7,335,167.16 .92
Wisconsin............... 170 .87 4,839,391.67 .60
Wyoming................. 78 .40 3,387,977.42 .42
------ ------ --------------- ------
Total................... 19,579 100.00% $799,999,984.76 100.00%
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</TABLE>
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* Indicates an amount greater than zero but less than .005% of the aggregate
principal balance of the Contracts as of the Cut-off Date.
(1) Based on obligor's billing address.
2
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Years of Origination of Contracts
<TABLE>
<CAPTION>
Number of Aggregate % of Contract Pool by
Contracts Principal Balance Outstanding Principal
as of Outstanding Balance as of
Year of Origination(1) Cut-off Date as of Cut-off Date Cut-off Date
- ---------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
1985..................... 42 $ 165,653.15 .02%
1986..................... 17 81,074.58 .01
1987..................... 999 9,641,410.54 1.21
1988..................... 0 .00 .00
1989..................... 0 .00 .00
1990..................... 12 204,725.66 .03
1991..................... 0 .00 .00
1992..................... 0 .00 .00
1993..................... 0 .00 .00
1994..................... 3 136,276.33 .02
1995..................... 0 .00 .00
1996..................... 3 196,663.57 .02
1997..................... 15 1,215,005.31 .15
1998..................... 1,119 97,002,553.19 12.13
1999..................... 17,369 691,356,622.43 86.41
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Total................. 19,579 $799,999,984.76 100.00%
====== =============== ======
</TABLE>
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(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 Contract Amounts
<TABLE>
<CAPTION>
Number of Aggregate % of Contract Pool by
Contracts Principal Balance Outstanding Principal
Original Contract as of Outstanding Balance as of
Amount (in Dollars)(1) Cut-off Date as of Cut-off Date Cut-off Date
- ---------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
Less than $10,000....... 551 $ 4,264,200.74 .53%
Between $10,000 and
$19,999................ 2,980 40,279,109.05 5.03
Between $20,000 and
$29,999................ 3,996 96,935,242.78 12.12
Between $30,000 and
$39,999................ 3,880 132,974,737.72 16.62
Between $40,000 and
$49,999................ 2,582 114,922,433.42 14.37
Between $50,000 and
$59,999................ 1,902 103,890,386.14 12.99
Between $60,000 and
$69,999................ 1,197 77,361,562.53 9.67
Between $70,000 and
$79,999................ 801 59,879,734.49 7.48
Between $80,000 and
$89,999................ 602 50,863,876.92 6.36
Between $90,000 and
$99,999................ 456 43,172,364.64 5.40
Between $100,000 and
$109,999............... 261 27,279,710.93 3.41
Between $110,000 and
$119,999............... 145 16,610,719.89 2.08
Between $120,000 and
$129,999............... 97 12,048,514.58 1.51
Between $130,000 and
$139,999............... 51 6,891,667.39 .86
Between $140,000 and
$149,999............... 36 5,219,332.64 .65
Between $150,000 and
$159,999............... 15 2,307,095.12 .29
Between $160,000 and
$169,999............... 5 820,538.14 .10
Between $170,000 and
$179,999............... 3 516,547.92 .06
Between $180,000 and
$189,999............... 7 1,305,676.52 .16
Between $190,000 and
$199,999............... 9 1,751,795.46 .22
Between $200,000 and
$249,999............... 2 415,585.64 .05
Over $250,000.00........ 1 289,152.10 .04
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Total................ 19,579 $799,999,984.76 100.00%
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</TABLE>
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(1) The largest original Contract amount is $289,152.10, which represents 0.04%
of the aggregate principal balance of the Contracts as of the Cut-off Date.
3
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Distribution of Original Loan-to-Value Ratios of Contracts
<TABLE>
<CAPTION>
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Scheduled Principal
Loan-to-Value Ratio Loan Count Outstanding Per Cent
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<S> <C> <C> <C>
Less than 61%........... 685 $ 20,983,248.34 2.62%
61% to 65%.............. 227 9,092,260.72 1.14
66% to 70%.............. 329 15,053,097.31 1.88
71% to 75%.............. 487 20,153,366.37 2.52
76% to 80%.............. 1,577 62,592,009.81 7.82
81% to 85%.............. 1,520 68,497,993.53 8.56
86% to 90%.............. 6,952 283,128,718.98 35.40
91% to 95%.............. 5,466 231,511,414.06 28.94
95% to 100%............. 2,336 88,987,875.64 11.12
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Total................ 19,579 $799,999,984.76 100.00%
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</TABLE>
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(1) Rounded to the nearest 1%. The method of calculating loan-to-value ratios
is described in the Prospectus.
Contract Rates
<TABLE>
<CAPTION>
Scheduled Principal Percent
Range for Contracts by Loan Count Outstanding
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<S> <C> <C> <C>
0.001% to 5.000%........ 6 $ 585,323.39 .07%
5.001% to 6.000%........ 65 5,464,969.87 .68
6.001% to 7.000%........ 1,022 86,038,250.70 10.75
7.001% to 8.000%........ 1,651 113,002,958.14 14.13
8.001% to 9.000%........ 2,911 162,288,589.78 20.29
9.001% to 10.000%....... 4,092 170,866,736.85 21.36
10.001% to 11.000%...... 3,282 117,102,768.83 14.64
11.001% to 12.000%...... 2,794 77,258,739.00 9.66
12.001% to 13.000%...... 1,936 43,397,531.23 5.42
13.001% to 14.000%...... 1,368 19,598,844.67 2.45
14.001% to 15.000%...... 258 2,577,046.41 .32
15.001% to 16.000%...... 161 1,512,716.98 .19
Greater than 16.000%.... 33 305,508.91 .04
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Total................ 19,579 $799,999,984.76 100.00%
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</TABLE>
Remaining Months to Maturity of Contracts
<TABLE>
<CAPTION>
Aggregate Principal
Months Remaining Number of Contracts Balance Outstanding
As of Cut-off Date as of Cut-off Date as of Cut-off Date Percent
- ------------------ ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 31............ 113 $ 359,617.19 .04%
31 to 60................ 1,119 9,579,111.92 1.20
61 to 90................ 421 6,070,716.88 .76
91 to 120............... 1,260 22,197,180.26 2.77
121 to 150.............. 400 8,844,012.31 1.11
151 to 180.............. 2,257 54,844,132.48 6.86
181 to 210.............. 116 4,016,303.48 .50
211 to 240.............. 2,662 83,423,883.21 10.43
241 to 270.............. 59 2,531,712.66 .32
271 to 300.............. 1,672 61,477,765.50 7.68
301 to 330.............. 49 2,299,579.54 .29
331 to 360.............. 9,451 544,355,969.33 68.04
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Total................ 19,579 $799,999,984.76 100.00%
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</TABLE>
4
