<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): July 29, 1999
GREEN TREE FINANCIAL CORPORATION
as originator of Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificate
Trust 1999-4
------------------------------------------------------
(Exact name of registrant as specified in its charter)
01-08916
Delaware (333-63265/333-75365) 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 July 29, 1999, the Registrant transferred approximately
$118,898,751 of manufactured housing installment sale
contracts and installment loan agreements (the "Subsequent
Contracts") to the trust formed in connection with the
$1,000,000,000 (approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series 1999-4
(the "Trust"), pursuant to the pre-funding provisions of the
Pooling and Servicing Agreement dated June 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 $118,898,751 of
Subsequent Contracts to be transferred to the trust
formed in connection with the $1,000,000,000
(Approximate) Manufactured Housing Contract
Senior/Subordinate Pass-Through Certificates, Series
1999-4 on June 30, 1999.
99.2 Amendment No. 1 to Pooling and Servicing Agreement dated
June 1, 1999 relating to a correction of an error in
Section 3.03(c).
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
4
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------- ----
99.1 Information regarding approximately $118,898,751 of Electronically
Subsequent Contracts to be transferred to the trust Filed
formed in connection with the $1,000,000,000
(Approximate) Manufactured Housing Contract Senior/
Subordinate Pass-Through Certificates, Series
1999-4 on June 30, 1999.
99.2 Amendment No. 1 to Pooling and Servicing Agreement Electroncially
dated June 1, 1999 relating to a correction of an Filed
error in Section 3.03(c).
<PAGE>
EXHIBIT 99.1
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1999-4
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements to be transferred to the Trust
on July 29, 1999. The information below includes the Subsequent Contracts
described in the Prospectus Supplement dated June 16, 1999 to the Prospectus
dated June 16, 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................. 252 7.97% $ 8,870,810.08 7.47%
Alaska.................. 1 .03 29,564.89 .02
Arizona................. 77 2.44 3,125,515.19 2.63
Arkansas................ 83 2.63 2,983,516.08 2.51
California.............. 177 5.60 8,145,754.07 6.85
Colorado................ 19 .60 809,492.93 .68
Connecticut............. 2 .06 64,708.72 .05
Delaware................ 12 .38 436,585.95 .37
Florida................. 84 2.66 3,696,630.26 3.11
Georgia................. 83 2.63 3,218,140.79 2.71
Idaho................... 23 .73 1,048,912.00 .88
Illinois................ 61 1.93 1,777,925.66 1.50
Indiana................. 75 2.37 2,121,560.98 1.78
Iowa.................... 66 2.09 1,999,373.64 1.68
Kansas.................. 17 .54 659,334.56 .55
Kentucky................ 115 3.64 3,499,920.75 2.94
Louisiana............... 24 .76 875,493.24 .74
Maine .................. 30 .95 1,275,835.89 1.07
Maryland................ 18 .57 613,841.68 .52
Massachusetts........... 2 .06 31,160.59 .03
Michigan................ 182 5.76 6,641,754.48 5.59
Minnesota............... 84 2.66 2,764,240.46 2.32
Mississippi............. 119 3.77 4,381,394.96 3.68
Missouri................ 22 .70 547,933.65 .46
Montana................. 36 1.14 1,443,045.23 1.21
Nebraska................ 14 .44 502,969.10 .42
Nevada.................. 29 .92 1,208,699.51 1.02
New Hampshire........... 25 .79 765,294.69 .64
New Jersey.............. 2 .06 96,405.72 .08
New Mexico.............. 20 .63 882,014.93 .74
New York................ 65 2.06 2,015,743.97 1.70
North Carolina.......... 73 2.31 3,659,139.02 3.08
North Dakota............ 19 .60 575,509.97 .48
Ohio.................... 93 2.94 2,643,488.12 2.22
Oklahoma................ 15 .47 549,983.05 .46
Oregon.................. 43 1.36 2,451,750.50 2.06
Pennsylvania............ 72 2.28 2,329,795.85 1.96
South Carolina.......... 44 1.39 1,639,048.54 1.38
South Dakota............ 37 1.17 1,310,920.05 1.10
Tennessee............... 132 4.18 4,667,143.77 3.93
Texas................... 547 17.30 22,742,533.95 19.14
Utah.................... 10 .32 490,550.65 .41
Vermont................. 11 .35 322,338.60 .27
Virginia................ 83 2.63 2,800,149.77 2.36
Washington.............. 58 1.84 2,852,969.36 2.40
West Virginia........... 48 1.52 1,467,784.16 1.23
Wisconsin............... 33 1.04 950,305.97 .80
Wyoming................. 23 .73 911,765.37 .77
------ ------ ----------------- ------
**Totals................ 3,160 100.00% $ 118,898,751.35 100.00%
====== ====== ================= ======
</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>
1998.................... 1 33,955.83 .03
1999.................... 3,159 118,864,795.52 99.97
----- --------------- ------
Total................ 3,160 $118,898,751.35 100.00%
===== =============== ======
</TABLE>
(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....... 109 $ 823,482.08 .69%
Between $10,000 and
$19,999................ 433 6,715,397.38 5.65
Between $20,000 and
$29,999................ 634 16,023,965.50 13.48
Between $30,000 and
$39,999................ 790 27,458,379.66 23.08
Between $40,000 and
$49,999................ 459 20,552,034.43 17.28
Between $50,000 and
$59,999................ 347 19,023,417.58 16.00
Between $60,000 and
$69,999................ 210 13,562,292.17 11.41
Between $70,000 and
$79,999................ 102 7,596,126.43 6.39
Between $80,000 and
$89,999................ 36 3,077,534.84 2.59
Between $90,000 and
$99,999................ 22 2,076,023.67 1.75
Between $100,000 and
$109,999............... 11 1,138,007.76 .96
Between $110,000 and
$119,999............... 4 454,035.84 .38
Between $120,000 and
$129,999............... 1 125,219.28 .11
Between $130,000 and
$139,999............... 2 272,834.73 .23
----- --------------- ------
Total................ 3,160 $118,898,751.35 100.00%
===== =============== ======
</TABLE>
- --------
(1) The largest original Contract amount is $139,657.66, which
represents .12% 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%................ 101 $ 2,384,950.87 2.01%
61% to 65%................ 41 1,401,942.51 1.18
66% to 70%................ 39 1,268,982.54 1.07
71% to 75%................ 60 2,204,683.42 1.85
76% to 80%................ 231 7,852,637.43 6.60
81% to 85%................ 161 6,063,692.52 5.10
86% to 90%................ 990 39,375,940.78 33.12
91% to 95%................ 1,040 40,177,713.32 33.79
Over 95%................ 497 18,168,207.96 15.28
----- --------------- ------
Total..................... 3,160 $118,898,751.35 100.00%
===== =============== ======
</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%........... 6 $ 346,566.47 .29%
6.00001% to 7.00000%....... 24 1,556,403.71 1.31
7.00001% to 8.00000%....... 115 7,350,190.46 6.18
8.00001% to 9.00000%....... 396 20,737,860.68 17.44
9.00001% to 10.00000%....... 732 30,912,700.62 26.00
10.00001% to 11.00000%....... 660 24,594,117.71 20.68
11.00001% to 12.00000%....... 490 16,070,549.47 13.52
12.00001% to 13.00000%....... 401 10,832,675.69 9.11
13.00001% to 14.00000%....... 255 5,362,798.29 4.51
14.00001% to 15.00000%....... 38 737,533.79 .62
15.00001% to 16.00000%....... 26 248,822.49 .21
16.00001% to 17.00000%....... 16 141,966.98 .12
Over 17.00000%............... 1 6,565.07 .01
----- --------------- ------
Total................ 3,160 $118,898,751.35 100.00%
===== =============== ======
</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................. 2 $ 17,053.24 .01%
31 to 45................. 5 30,264.06 .03
46 to 60................. 69 647,183.93 .54
61 to 75................. 16 237,268.38 .20
76 to 90................. 7 104,292.64 .09
91 to 105................. 15 236,811.30 .20
106 to 120................. 205 3,262,140.74 2.74
121 to 135................. 8 183,342.85 .15
136 to 150................. 68 1,597,660.63 1.34
151 to 165................. 11 320,698.01 .27
166 to 180................. 422 10,026,132.54 8.43
181 to 195................. 9 284,288.95 .24
196 to 210................. 15 494,216.64 .42
211 to 225................. 14 454,747.72 .38
226 to 240................. 445 14,124,455.99 11.88
241 to 255................. 6 255,731.52 .22
256 to 270................. 3 119,132.50 .10
271 to 285................. 8 347,965.98 .29
286 to 300................. 312 11,041,765.91 9.29
301 to 315................. 2 81,184.35 .07
316 to 330................. 8 395,562.02 .33
331 to 345................. 10 456,472.23 .38
346 to 360................. 1,500 74,180,379.22 62.40
----- --------------- ------
Total..................... 3,160 $118,898,751.35 100.00%
===== =============== ======
</TABLE>
4
<PAGE>
Set forth below is information regarding the combined pool of Initial,
Additional and Subsequent Contracts transferred to the Trust on June 30, 1999
and July 29, 1999. Unless otherwise defined herein, all capitalized terms
have the meanings set forth in the Prospectus Supplement.
5
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF INITIAL, ADDITIONAL 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................. 1,830 7.35% $ 65,038,034.26 6.50%
Alaska.................. 3 0.01 198,709.05 0.02
Arizona................. 488 1.96 20,718,993.56 2.07
Arkansas................ 615 2.47 21,317,414.23 2.13
California.............. 860 3.46 38,319,113.76 3.83
Colorado................ 473 1.90 24,653,674.15 2.47
Connecticut............. 11 0.04 460,600.25 0.05
Delaware................ 90 0.36 3,591,941.82 0.36
District of Columbia.... 1 * 34,269.73 *
Florida................. 1,321 5.31 57,806,181.62 5.78
Georgia................. 1,426 5.73 57,876,156.37 5.79
Idaho................... 116 0.47 5,260,538.91 0.53
Illinois................ 421 1.69 13,796,498.25 1.38
Indiana................. 619 2.49 24,376,589.01 2.44
Iowa.................... 361 1.45 12,186,969.80 1.22
Kansas.................. 348 1.40 13,887,676,06 1.39
Kentucky................ 728 2.93 24,337,350.65 2.43
Louisiana............... 591 2.37 20,232,190.43 2.02
Maine .................. 167 0.67 6,722,866.06 0.67
Maryland................ 87 0.35 2,789,003.98 0.28
Massachusetts........... 12 0.05 341,312.06 0.03
Michigan................ 1,092 4.39 47,733,645.06 4.77
Minnesota............... 538 2.16 18,928,841.37 1.89
Mississippi............. 696 2.80 23,963,365.44 2.40
Missouri................ 649 2.61 21,124,090.31 2.11
Montana................. 206 0.83 8,411,434.38 0.84
Nebraska................ 96 0.39 3,274,654.88 0.33
Nevada.................. 241 0.97 13,485,962.01 1.35
New Hampshire........... 140 0.56 5,431,081.14 0.54
New Jersey.............. 4 0.02 180,276.64 0.02
New Mexico.............. 308 1.24 13,827,097.14 1.38
New York................ 324 1.30 10,569,654.71 1.06
North Carolina.......... 1,985 7.97 88,373,834.73 8.84
North Dakota............ 116 0.47 3,566,951.26 0.36
Ohio.................... 543 2.18 19,393,028.11 1.94
Oklahoma................ 551 2.21 22,015,616.29 2.20
Oregon.................. 288 1.16 19,746,246.01 1.97
Pennsylvania............ 357 1.43 11,842,825.37 1.18
Rhode Island............ 2 0.01 54,670.51 0.01
South Carolina.......... 1,133 4.55 49,003,416.64 4.90
South Dakota............ 207 0.83 7,180,691.87 0.72
Tennessee............... 818 3.29 29,748,798.43 2.97
Texas................... 2,353 9.45 97,781,159.60 9.78
Utah.................... 89 0.36 5,171,569.62 0.52
Vermont................. 57 0.23 2,302,471.98 0.23
Virginia................ 462 1.86 16,616,190.75 1.66
Washington.............. 355 1.43 22,371,951.09 2.24
West Virginia........... 332 1.33 10,403,359.18 1.04
Wisconsin............... 254 1.02 7,963,882.14 0.80
Wyoming................. 121 0.49 5,569,284.05 0.56
Non-U.S. Based.......... 1 * 17,328.60 *
------ ------ --------------- ------
**Totals................ 24,886 100.00% $999,999,463.32 100.00%
====== ====== =============== ======
</TABLE>
- ---------------
* Indicates an amount greater than zero but less than .05%.
6
<PAGE>
YEARS OF ORIGINATION OF INITIAL, ADDITIONAL 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>
1990.................... 3 $ 43,593.77 * %
1993.................... 1 13,494.03 *
1994.................... 1 36,187.31 *
1995.................... 1 9,867.79 *
1996.................... 3 53,570.44 .01
1997.................... 8 631,726.40 .06
1998.................... 98 8,464,875.24 .86
1999.................... 24,771 990,746,148.34 98.97
------ ---------------- ------
Total................ 24,886 $ 999,999,463.32 100.00%
====== ================ ======
</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,
ADDITIONAL 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....... 823 $ 6,293,587.69 .63%
Between $10,000 and
$19,999................ 3,328 51,050,826.42 5.11
Between $20,000 and
$29,999................ 4,836 122,697,638.63 12.27
Between $30,000 and
$39,999................ 5,610 194,704,495.89 19.47
Between $40,000 and
$49,999................ 3,626 162,131,941.85 16.21
Between $50,000 and
$59,999................ 2,644 145,052,504.81 14.51
Between $60,000 and
$69,999................ 1,758 113,526,988.84 11.35
Between $70,000 and
$79,999................ 870 64,909,479.53 6.49
Between $80,000 and
$89,999................ 514 43,553,152.38 4.36
Between $90,000 and
$99,999................ 365 34,694,036.25 3.47
Between $100,000 and
$109,999............... 202 21,116,084.04 2.11
Between $110,000 and
$119,999............... 117 13,413,608.96 1.34
Between $120,000 and
$129,999............... 91 11,297,622.63 1.13
Between $130,000 and
$139,999............... 34 4,562,328.40 .46
Between $140,000 and
$149,999............... 29 4,216,557.62 .42
Between $150,000 and
$159,999............... 13 2,006,437.11 .20
Between $160,000 and
$169,999............... 10 1,638,429.73 .16
Between $170,000 and
$179,999............... 4 700,613.63 .07
Between $180,000 and
$189,999............... 5 910,494.23 .09
Between $190,000 and
$199,999............... 3 582,981.31 .06
Between $200,000 and
$249,999............... 3 634,154.80 .06
Over $250,000........... 1 305,498.57 .03
------ ----------------- ------
Total................ 24,886 $ 999,999,463.32 100.00%
====== ================= ======
</TABLE>
- --------
(1) The largest original Contract amount is $268,436.61, which represents .03%
of the aggregate principal balance of the Initial, Additional and Subsequent
Contracts as of the Cut-off Date.
7
<PAGE>
DISTRIBUTION OF ORIGINAL INITIAL, ADDITIONAL
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%................ 799 $ 23,957,508.00 2.40%
61% to 65%................ 251 9,047,379.00 .90
66% to 70%................ 348 12,909,287.00 1.29
71% to 75%................ 581 25,473,538.00 2.55
76% to 80%................ 2,176 82,669,231.00 8.27
81% to 85%................ 1,531 64,968,955.00 6.50
86% to 90%................ 8,753 370,486,248.00 37.05
91% to 95%................ 7,717 310,747,775.00 31.07
Over 95%................ 2,730 99,739,543.00 9.97
------ ----------------- ------
Total..................... 24,886 $ 999,999,463.32 100.00%
====== ================= ======
</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%........... 6 $ 501,453.00 .05%
5.00001% to 6.00000%....... 36 2,624,608.00 .26
6.00001% to 7.00000%....... 509 40,706,524.00 4.07
7.00001% to 8.00000%....... 2,003 136,822,029.00 13.68
8.00001% to 9.00000%....... 3,982 215,543,988.00 21.55
9.00001% to 10.00000%....... 5,357 224,705,771.00 22.48
10.00001% to 11.00000%....... 4,533 163,464,978.00 16.35
11.00001% to 12.00000%....... 3,742 112,077,991.00 11.21
12.00001% to 13.00000%....... 2,663 65,992,455,00 6.60
13.00001% to 14.00000%....... 1,549 30,935,897.00 3.09
14.00001% to 15.00000%....... 192 3,483,538.00 .35
15.00001% to 16.00000%....... 217 2,239,638.00 .22
16.00001% to 17.00000%....... 95 883,252.00 .09
Over 17.00000% 2 17,341.00 .00
------ ----------------- ------
Total................ 24,886 $ 999,999,463.32 100.00%
====== ================= ======
</TABLE>
REMAINING MONTHS TO MATURITY OF INITIAL, ADDITIONAL 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................. 11 $ 72,129.81 0.01%
31 to 60................. 488 4,410,174.17 0.44
61 to 90................. 494 6,985,897.10 0.70
91 to 120................. 1,557 25,882,953.14 2.59
121 to 150................. 573 12,269,854.09 1.23
151 to 180................. 3,093 74,310,409.83 7.43
181 to 210................. 137 4,641,197.70 0.46
211 to 240................. 3,547 111,054,365.35 11.11
241 to 270................. 49 1,830,989.26 0.18
271 to 300................. 2,234 80,092,988.64 8.01
301 to 330................. 54 2,485,392.93 0.25
331 to 360................. 12,649 675,963,111.30 67.59
------ ----------------- ------
Total..................... 24,886 $ 999,999,463.32 100.00%
====== ================= ======
</TABLE>
8
<PAGE>
Exhibit 99.2
AMENDMENT NO. 1
TO
POOLING AND SERVICING AGREEMENT
DATED AS OF JUNE 1, 1999 (SERIES 1999-4)
BETWEEN
GREEN TREE FINANCIAL CORPORATION, AS SELLER AND SERVICER
AND
U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
This Amendment No. 1 to Pooling and Servicing Agreement, dated as of
June 1, 1999 (the "Pooling and Servicing Agreement") between Green Tree
Financial Corporation (the "Company"), as seller and servicer, and U.S. Bank
National Association, as trustee, is entered into between Green Tree and U.S.
Bank National Association as of the 29th day of July, 1999. Any capitalized
terms not otherwise defined herein shall have the meanings attached to them in
the Pooling and Servicing Agreement.
WHEREAS, U.S. Bank National Association is acting as Trustee under the
Pooling and Servicing Agreement.
WHEREAS, Section 12.07(a) of the Pooling and Servicing Agreement
provides that such Pooling and Servicing Agreement may be amended, without the
consent of any of the Certificateholders to correct manifest error.
WHEREAS, it has come to the Company's attention that the Pooling and
Servicing Agreement contains a manifest error in Section 3.03(c) with respect to
the representations and warranties relating to the characteristics of the
Contracts.
NOW THEREFORE, the Pooling and Servicing Agreement is hereby amended as
follows:
1. Section 3.03(c) is hereby amended to state in its entirety as
follows:
"c. Characteristics of All Contracts. The Contracts have the following
characteristics as of the end of the Pre-Funding Period:
(i) the Weighted Average Contract Rate is not less
than 9.50%, and not more than .02% of the Cut-off Date Pool
Principal Balance is attributable to Contracts with a Contract
Rate of less than 4.0%;
<PAGE>
(ii) the weighted average (by Cut-off Date Pool
Principal Balance) Loan-to-Value Ratio of the Contracts is not
more than 89%;
(iii) not less than 72% of the Cut-off Date Pool
Principal Balance is attributable to loans for purchases of
new Manufactured Homes;
(iv) not more than 35% of the Cut-off Date Pool
Principal Balance is attributable to loans for the purchase of
single-section Manufactured Homes, and not less than 65% of
the Cut-off Date Pool Principal Balance is attributable to
loans for the purchase of double-section Manufactured Homes;
(v) not less than 16% of the Cut-off Date Pool
Principal Balance is attributable to Land-and-Home Contracts;
and
(vi) not more than 33% of the Cut-off Date Pool
Principal Balance is attributable to loans secured by
Manufactured Homes located in parks."
This Amendment may be executed in two or more counterparts, each of
which shall be an original, but all of which together shall constitute one and
the same instrument.
GREEN TREE FINANCIAL
CORPORATION
By /s/ Joel H. Gottesman
------------------------------
Senior Vice President,
General Counsel and Secretary
U.S. BANK NATIONAL
ASSOCIATION, as Trustee
By /s/ Laurie A. Howard
------------------------------
Vice President
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