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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): November 2, 1999
CONSECO FINANCE CORP.
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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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GREEN TREE FINANCIAL CORPORATION
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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.
2
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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 1999-5, issued by Conseco
Finance Corp., 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.
CONSECO FINANCE CORP.
By: /s/ Phyllis A. Knight
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Phyllis A. Knight
Senior Vice President and Treasurer
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 1999-5,
issued by Conseco Finance Corp., as Seller and Servicer.
4
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EXHIBIT 99.1
MANUFACTURED HOUSING CONTRACT
SENIOR/SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1999-5
INFORMATION REGARDING INITIAL, ADDITIONAL AND SUBSEQUENT CONTRACTS
Set forth below is information regarding the manufactured housing installment
sales contracts and installment loan agreements transferred to a trust formed in
September 1999. The information below includes the initial contracts described
in the prospectus supplement dated August 24, 1999, the additional contracts
transferred to the trust on the closing date and the subsequent contracts
transferred to the trust on September 30, 1999 and November 2, 1999. Unless
otherwise defined herein, all capitalized terms have the meanings set forth in
the prospectus supplement.
<PAGE>
Geographical Distribution of Contract Obligors(1)
<TABLE>
<CAPTION>
Aggregate
% of Contract Principal Balance % of Contract Pool
Number of Pool by Number of Outstanding by Outstanding
Contracts as of Contracts as of as of Cut- Principal Balance
State Cut-off Date Cut-off Date off Date as of Cut-off Date
- ----- --------------- ----------------- ----------------- ------------------
<S> <C> <C> <C> <C>
Alabama................. 3,385 6.77% $ 116,159,766.84 5.81%
Alaska.................. 1 .00 34,211.16 *
Arizona................. 1,019 2.04 46,476,857.47 2.32
Arkansas................ 1,105 2.21 36,060,786.31 1.80
California.............. 1,501 3.00 68,311,018.15 3.42
Colorado................ 958 1.91 45,971,805.26 2.30
Connecticut............. 18 .04 526,544.95 .03
Delaware................ 137 .27 5,408,741.65 .27
Florida................. 2,656 5.31 115,266,267.66 5.76
Georgia................. 2,861 5.72 117,763,260.64 5.89
Idaho................... 229 .46 10,817,677.27 .54
Illinois................ 772 1.54 27,306,870.20 1.37
Indiana................. 1,345 2.69 51,583,008.54 2.58
Iowa.................... 612 1.22 21,139,032.74 1.06
Kansas.................. 690 1.38 28,060,149.48 1.40
Kentucky................ 1,147 2.29 41,230,248.92 2.06
Louisiana............... 1,137 2.27 38,634,667.63 1.93
Maine................... 276 .55 12,435,094.10 .62
Maryland................ 172 .34 5,659,817.06 .28
Massachusetts........... 36 .07 1,144,550.37 .06
Michigan................ 3,810 7.62 142,468,547.75 7.12
Minnesota............... 926 1.85 32,937,920.93 1.65
Mississippi............. 1,221 2.44 42,635,775.71 2.13
Missouri................ 1,484 2.97 50,179,457.30 2.51
Montana................. 385 .77 16,717,790.36 .84
Nebraska................ 222 .44 8,080,412.33 .40
Nevada.................. 467 .93 27,266,047.05 1.36
New Hampshire........... 225 .45 8,597,162.13 .43
New Jersey.............. 28 .06 984,051.09 .05
New Mexico.............. 729 1.46 31,222,668.47 1.56
New York................ 613 1.23 23,423,896.28 1.17
North Carolina.......... 4,403 8.80 198,564,056.58 9.93
North Dakota............ 221 .44 7,781,014.79 .39
Ohio.................... 1,839 3.68 47,697,347.33 2.38
Oklahoma................ 1,204 2.41 46,700,369.51 2.34
Oregon.................. 581 1.16 34,629,103.48 1.73
Pennsylvania............ 624 1.25 21,971,889.09 1.10
Rhode Island............ 6 .01 190,729.69 .01
South Carolina.......... 2,300 4.60 103,268,589.16 5.16
South Dakota............ 358 .72 13,556,321.38 .68
Tennessee............... 1,269 2.54 47,452,651.66 2.37
Texas................... 4,278 8.55 182,686,217.31 9.13
Utah.................... 149 .30 8,556,582.03 .43
Vermont................. 122 .24 5,489,079.39 .27
Virginia................ 783 1.57 29,501,932.85 1.48
Washington.............. 652 1.30 38,969,649.71 1.95
West Virginia........... 442 .88 14,086,257.91 .70
Wisconsin............... 347 .69 11,805,763.37 .59
Wyoming................. 284 .57 12,588,332.35 .63
------ ------- ----------------- -------
Total................. 50,029 100.00% $1,999,999,993.39 100.00%
====== ======= ================= =======
</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
<PAGE>
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 Cut-off Date as of Cut-off Date Cut-off Date
- ------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
1984..................... 2 $ 2,229.72 *%
1985..................... 82 229,007.27 .01
1986..................... 135 651,664.35 .03
1987..................... 151 1,366,794.26 .07
1988..................... 196 2,357,534.17 .12
1989..................... 157 2,300,684.88 .12
1990..................... 25 306,196.53 .02
1991..................... 21 226,484.84 .01
1992..................... 34 413,225.05 .02
1993..................... 84 1,349,127.09 .07
1994..................... 185 3,617,506.00 .18
1995..................... 318 7,004,040.14 .35
1996..................... 124 3,222,177.70 .16
1997..................... 86 3,552,852.80 .18
1998..................... 4,465 169,079,889.70 8.45
1999..................... 43,959 1,804,120,597.13 90.21
------ ----------------- ------
Total................. 50,029 $1,999,999,993.39 100.00%
====== ================= ======
</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.
The contracts shown in the table above with earlier years of
origination primarily represent contracts we originated and subsequently
refinanced through us. We retain the first origination dates on our records for
these refinanced contracts.
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<PAGE>
Distribution of Original Contract Amounts
<TABLE>
<CAPTION>
Number of Aggregate % of Contract Pool by
Contracts Principal Balance Outstanding Principal
Oiginal Contractr as of Outstanding Balance as of
Amunt (in Dollars)o Cut-off Date as of Cut-off Date Cut-off Date
- ------------------- ------------ ------------------ ---------------------
<S> <C> <C> <C>
Less than $10,000........ 1,674 $ 12,137,669.71 .61%
Between $10,000 and
$19,999................. 7,051 102,377,663.51 5.12
Between $20,000 and
$29,999................. 9,708 242,739,957.58 12.14
Between $30,000 and
$39,999................. 10,778 373,925,944.48 18.70
Between $40,000 and
$49,999................. 7,099 316,417,349.24 15.82
Between $50,000 and
$59,999................. 5,335 291,576,125.38 14.58
Between $60,000 and
$69,999................. 3,500 225,840,235.99 11.29
Between $70,000 and
$79,999................. 1,955 145,483,223.57 7.27
Between $80,000 and
$89,999................. 1,152 97,330,607.71 4.87
Between $90,000 and
$99,999................. 772 73,005,192.55 3.65
Between $100,000 and
$109,999................ 390 40,510,839.37 2.03
Between $110,000 and
$119,999................ 242 27,632,576.52 1.38
Between $120,000 and
$129,999................ 183 22,731,328.13 1.14
Between $130,000 and
$139,999................ 77 10,328,527.48 .52
Between $140,000 and
$149,999................ 50 7,245,988.50 .36
Between $150,000 and
$159,999................ 27 4,160,454.41 .21
Between $160,000 and
$169,999................ 12 1,961,468.98 .10
Between $170,000 and
$179,999................ 7 1,223,512.15 .06
Between $180,000 and
$189,999................ 8 1,475,003.59 .07
Between $190,000 and
$199,999................ 4 785,914.92 .04
Between $200,000 and
$249,999................ 5 1,110,379.62 .06
------ ----------------- ------
Total................. 50,029 $1,999,999,993.39 100.00%
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</TABLE>
The largest original contract amount is $232,000.00, which represents
0.01% of the aggregate principal balance of the contracts as of the cut-off
date.
Distribution of Original Loan-to-Value Ratios of Contracts
The loan-to-value ratio in the table below is rounded to the nearest 1%.
The method of calculating loan-to-value ratios is described in the prospectus.
<TABLE>
<CAPTION>
Aggregate Principal % of Contract Pool by
Number of Contracts Balance Outstanding Outstanding Principal
Loan-to-Value Ratio as of Cut-off Date as of Cut-off Date Balance as of Cut-off Date
- ------------------- ------------------- ------------------- --------------------------
<S> <C> <C> <C>
Less than 61%........... 1,390 $ 42,649,003.49 2.13%
61% to 65%.............. 522 20,394,359.29 1.02
66% to 70%.............. 741 29,224,724.34 1.46
71% to 75%.............. 1,092 45,694,382.26 2.28
76% to 80%.............. 4,072 157,329,236.87 7.87
81% to 85%.............. 3,234 137,172,691.55 6.86
86% to 90%.............. 16,927 721,759,071.41 36.09
91% to 95%.............. 15,876 651,686,015.97 32.58
96% to 100%............. 6,175 194,090,508.21 9.70
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Total................ 50,029 $1,999,999,993.39 100.00%
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</TABLE>
4
<PAGE>
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>
0.00000% to 5.00000%.... 18 $ 1,249,374.62 .06%
5.00001% to 6.00000%.... 43 3,185,148.96 .16
6.00001% to 7.00000%.... 580 45,189,044.01 2.26
7.00001% to 8.00000%.... 3,245 242,065,514.62 12.10
8.00001% to 9.00000%.... 4,639 272,367,469.62 13.62
9.00001% to 10.00000%... 9,397 442,175,481.85 22.11
10.00001% to 11.00000%.. 9,326 371,061,403.32 18.55
11.00001% to 12.00000%.. 8,121 268,487,000.24 13.42
12.00001% to 13.00000%.. 6,578 180,541,568.75 9.03
13.00001% to 14.00000%.. 4,779 111,982,374.33 5.60
14.00001% to 15.00000%.. 2,269 45,666,043.62 2.28
15.00001% to 16.00000%.. 485 9,704,457.90 .49
16.00001% to 17.00000%.. 438 5,194,861.24 .26
Over 17.00000%.......... 111 1,130,250.31 .06
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Total................ 50,029 $1,999,999,993.39 100.00%
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</TABLE>
Remaining Months to Maturity of 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............ 351 $ 1,273,316.24 .06%
31 to 60................ 1,207 10,716,196.58 .54
61 to 90................ 1,267 16,478,287.22 .82
91 to 120............... 3,206 52,847,804.92 2.64
121 to 150.............. 1,268 26,939,294.84 1.35
151 to 180.............. 5,310 124,621,263.04 6.23
181 to 210.............. 359 11,570,347.34 .58
211 to 240.............. 6,192 189,824,686.38 9.49
241 to 270.............. 88 3,775,508.08 .19
271 to 300.............. 4,232 153,789,941.13 7.69
301 to 330.............. 193 12,278,452.55 .61
331 to 360.............. 26,356 1,395,884,895.07 69.79
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Total................ 50,029 $1,999,999,993.39 100.00%
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</TABLE>
5
