GREEN TREE FINANCIAL CORP
8-K, 1999-03-15
ASSET-BACKED SECURITIES
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<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 12, 1999





                        GREEN TREE FINANCIAL CORPORATION
                        --------------------------------
             (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.
                    -------------
                    Not applicable.

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.

                           Not applicable.

                    (c)    Exhibits.

                           The following is filed herewith. The exhibit numbers
                           correspond with Item 601(b) of Regulation S-K.


                                        2
<PAGE>
 
                    Exhibit No.     Description
                    -----------     -----------

                        99          External Computational and Descriptive 
                                    Information dated March 12, 1999 
                                    distributed in connection with Certificates
                                    for Manufactured Housing Contract
                                    Senior/Subordinate Pass-Through
                                    Certificates, Series 1999-2, 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



                                    By: /s/ Joel H. Gottesman
                                       -------------------------------   
                                       Joel H. Gottesman
                                       Senior Vice President, General Counsel
                                       and Secretary


                                        3
<PAGE>
 
                                INDEX TO EXHIBITS




Exhibit Number                                             Filed Electroncially
- --------------                                             --------------------

     99           External Computational and Descriptive 
                  Information dated March 12, 1999 
                  distributed in connection with 
                  Certificates for Manufactured Housing 
                  Contract Senior/Subordinate Pass-Through 
                  Certificates, Series 1999-2, issued by 
                  Green Tree Financial Corporation, as 
                  Seller and Servicer.


                                        4

<PAGE>
 
                              GREENTREE MH 99-2 
               ----- Corporate Bond Equivalent Yield Table -----
Lehman Brothers

                      Bond Class A-6      6.920 FIXED CPN
                        Current Balance $47,000,000.00
<TABLE>
<CAPTION>
                      100% MHP            150% MHP            175% MHP             200% MHP            250% MHP
                  -----------------   -----------------   -----------------   -----------------   -----------------
PRICE             CBE Yield    Dur    CBE Yield    Dur    CBE Yield    Dur    CBE Yield    Dur    CBE Yield    Dur
- -------------     ---------   -----   ---------   -----   ---------   -----   ---------   -----   ---------   ----- 
<S>               <C>         <C>      <C>        <C>      <C>        <C>      <C>        <C>     <C>         <C>  
      99-21+          7.051   10.71      7.054     9.69       7.056    9.17      7.058     8.68      7.063     7.75
      99-22           7.050              7.053                7.055              7.057               7.061          
      99-22+          7.048              7.051                7.053              7.055               7.059          
      99-23           7.047              7.050                7.051              7.053               7.057          
      99-23+          7.045              7.048                7.050              7.051               7.055          

      99-24           7.044   10.72      7.046     9.70       7.048    9.18      7.049     8.68      7.053     7.75
      99-24+          7.042              7.045                7.046              7.048               7.051          
      99-25           7.041              7.043                7.044              7.046               7.049          
      99-25+          7.039              7.041                7.043              7.044               7.047          
      99-26           7.038              7.040                7.041              7.042               7.045          

      99-26+          7.037   10.72      7.038     9.70       7.039    9.18      7.040     8.68      7.043     7.76
      99-27           7.035              7.037                7.038              7.039               7.041          
      99-27+          7.034              7.035                7.036              7.037               7.039          
      99-28           7.032              7.033                7.034              7.035               7.037          
      99-28+          7.031              7.032                7.032              7.033               7.035          

      99-29           7.029   10.72      7.030     9.70       7.031    9.18      7.031     8.69      7.033     7.76
      99-29+          7.028              7.029                7.029              7.030               7.031          
      99-30           7.026              7.027                7.027              7.027               7.028          
      99-30+          7.025              7.025                7.026              7.026               7.027          
      99-31           7.023              7.024                7.024              7.024               7.025          

      99-31+          7.022   10.73      7.022     9.71       7.022    9.18      7.022     8.69      7.023     7.76
     100-00           7.021              7.021                7.021              7.021               7.021
     100-00+          7.019              7.019                7.019              7.019               7.019
     100-01           7.018              7.017                7.017              7.017               7.016
     100-01+          7.016              7.016                7.015              7.015               7.014

     100-02           7.015   10.73      7.014     9.71       7.014    9.19      7.013     8.69      7.012     7.76
     100-02+          7.013              7.012                7.012              7.012               7.010
     100-03           7.012              7.011                7.010              7.010               7.008
     100-03+          7.010              7.009                7.009              7.008               7.006
     100-04           7.009              7.008                7.007              7.006               7.004

     100-04+          7.007   10.74      7.006     9.71       7.005    9.19      7.004     8.69      7.002     7.76
     100-05           7.006              7.004                7.004              7.003               7.000
     100-05+          7.005              7.003                7.002              7.001               6.998
     100-06           7.003              7.001                7.000              6.999               6.996
     100-06+          7.002              7.000                6.998              6.997               6.994

Average Life    :     20.97              17.07                15.42              14.01               11.69
First Pay       :  11/01/17           12/01/13             06/01/12           02/01/11            11/01/08
Last Pay        :  12/01/20           01/01/17             05/01/15           12/01/13            08/01/11

      1Y      2Y      3Y      5Y      10Y     30Y   
      4.763   5.033   5.063   5.123   5.195   5.560
</TABLE>

Notes:  All yields and durations are based on MONTHLY payments of interest with
        an interest free delay of 0 days. Duration, First Pay, Average Life, and
        Maturity are stated in years reflecting a 3/31/99 settlement date.


_______________________________________________________________________________

This information does not constitute either an offer to sell or a solicitation 
of an offer to buy any of the securities referred to herein. Offers to sell and 
solicitations of offers to buy the securities are made only by, and this 
information must be read in conjunction with, the final Prospectus Supplement 
and the related Prospectus or, if not registered under the securities laws, the 
final Offering Memorandum (the "Offering Document"). Information contained 
herein does not purport to be complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the 
same warnings, lack of assurances and representations and other precautionary 
matters, as disclosed in the Offering Document. Information regarding the 
underlying assets has been provided by the issuer of the securities or an 
affiliate thereof and has been indepedently verified by Lehman Brothers Inc. or 
any affiliate. The analyses contained herein have been prepared and disseminated
by Lehman Brothers Inc. and the contents and accuracy thereof have not been 
reviewed by the issuer. This information was prepared on the basis of certain 
assumptions (including, in certain cases, assumptions specified by the recipient
hereof) regarding payments, interest rates, weighted average lives and weighted 
average loan age, losses and other matters, including, but not limited to, the 
assumptions described in the Offering Document. Lehman Brothers Inc., and any of
its affiliates, makes no representation or warranty as to the actual rate or 
timing of payments on any of the underlying assets or the payments or yield on 
the securities. This information supersedes any prior versions hereof and will 
be deemed to be superseded by any subsequent versions (including, with respect 
to any description of the securities or the underlying assets, the information 
contained in the Offering Document).


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