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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):January 17, 2000
HOME IMPROVEMENT AND HOME EQUITY LOAN TRUST 1999-B
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 33-55853 Applied for
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file numbers) identification no.)
1100 Landmark Towers, 345 St. Peter Street, Saint Paul, Minnesota 55102-1639
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (651) 293-3400
--------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events.
Pursuant to the Pooling and Servicing Agreement between Conseco
Finance Corp. (the "Servicer") and U S Bank Trust (N.A.) (the
"Trustee"), on January 17, 2000, the Trustee made distributions to the
holders of the certificates representing interests in the Trust (the
"Certificateholders") and delivered to the Certificateholders the
Monthly Report required by Section 6.05 of the Pooling and Servicing
Agreement attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
The following is filed herewith. The exhibit number corresponds
with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Monthly Report delivered to
Certificateholders on
January 17, 2000.
<PAGE>
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.
Dated: January 17, 2000
HOME IMPROVEMENT AND HOME EQUITY LOAN
TRUST 1999-B
By CONSECO FINANCE CORP.
as Servicer with respect to the Trust
By: /s/ Phyllis A. Knight
-------------------------------------
Phyllis A. Knight
Senior Vice President and Treasurer
<PAGE>
INDEX TO EXHIBITS
Exhibit
Number Page
- ------- ----
99.1 Monthly Report delivered to Certificateholders 5
on January 17, 2000.
<PAGE>
EXHIBIT 99.1
CONSECO FINANCE CORP.
CERTIFICATE REGARDING REPURCHASED CONTRACTS
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of June 1, 1999 between the Company and U S Bank Trust
National Association, as Trustee of Home Improvement and Home Equity Loan Trust
1999-B (all capitalized terms used herein without definition having the
respective meanings specified in the Agreement), and further certifies that:
1. The contracts on the attached schedule are to be repurchased by the Company
on the date hereof pursuant to Sections 3.05 of the Agreement.
2. Upon deposit of the Repurchase Price for such Contracts, such Contracts
may, pursuant to Section 8.06 of the Agreement, be assigned by the Trustee
to the Company.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
January, 2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
---------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CONSECO FINANCE CORP.
CERTIFICATE OF SERVICING OFFICER
The undersigned certifies that she is Senior Vice President and Treasurer of
Conseco Finance Corp., a Minnesota corporation (the "Company"), and that as such
he is duly authorized to execute and deliver this certificate on behalf of the
Company pursuant to Section 6.02 of the Pooling and Servicing Agreement (the
"Agreement") dated as of June 1, 1999 between the Company and U S Bank Trust
(N.A), as Trustee of Home Equity Loan Trust 1999-B (all capitalized terms used
herein without definition having the respective meanings specified in the
Agreement), and further certifies that:
1. The Monthly Report for the period from December 1, 1999 to December 31,
1999 attached to this certificate is complete and accurate in accordance
with the requirements of Sections 6.01 and 6.02 of the Agreement; and
2. As of the date hereof, no Event of Termination or event that with notice or
lapse of time or both would become an Event of Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 12th day of
January, 2000.
CONSECO FINANCE CORP.
BY: /s/ Phyllis A. Knight
--------------------------------
Phyllis A. Knight
Senior Vice President and
Treasurer
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
1. Amount Available $11,015,441.38
--------------
2. Note Insurance Policy
(a) Shortfall $ 0.00
--------------
(b) Insured Payment $ 0.00
--------------
3. Monthly Servicing Fee ( if Green Tree is not the Servicer)
(up to 1/12 of 0.75% of Pool Scheduled Principal Balance) $ 0.00
--------------
4. Premium Amount (to FSA, .22% of Class A Principal Balance) $ 48,197.62
--------------
Interest
- --------
Class A
-------
5. Class A-1 Interest Rate (7.11%)
(a) Class A-1 Interest Amount $ 1,021,209.76
--------------
(b) Unpaid Class A-1 Interest Shortfall $ 0.00
--------------
(c) Class A-1 Interest Paid $ 1,021,209.76
--------------
(d) Class A-1 Interest Carryover Shortfall $ 0.00
--------------
6. Class A-2 Interest Rate (7.11%)
(a) Class A-2 Interest Amount $ 536,449.70
--------------
(b) Unpaid Class A-2 Interest Shortfall $ 0.00
--------------
(c) Class A-2 Interest Paid $ 536,449.70
--------------
(d) Class A-2 Interest Carryover Shortfall $ 0.00
--------------
Class M-1
---------
7. Interest on Class M-1 Adjusted Principal Balance
(a) Class M-1 Adjusted Principal Balance $34,600,000.00
--------------
(b) Class M-1 Interest Rate (8.38%)
(c) Class M-1 Interest Amount $ 241,623.33
--------------
(d) Unpaid Class M-1 Interest Shortfall $ 0.00
--------------
(e) Class M-1 Interest Paid $ 241,623.33
--------------
(f) Class M-1 Interest Carryover Shortfall $ 0.00
--------------
Class M-2
---------
8. Interest on Class M-2 Adjusted Principal Balance
(a) Class M-2 Adjusted Principal Balance $23,600,000.00
--------------
(b) Class M-2 Interest Rate (10.54%)
(c) Class M-2 Interest Amount $ 207,286.67
--------------
(d) Unpaid Class M-2 Interest Shortfall $ 0.00
--------------
(e) Class M-2 Interest Paid $ 207,286.67
--------------
(f) Class M-2 Interest Carryover Shortfall $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 2
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
Class B-1
---------
9. Interest on Class B-1 Adjusted Principal Balance
(a) Class B-1 Adjusted Principal Balance $22,200,000.00
--------------
(b) Class B-1 Interest Rate (13.55%)
(c) Class B-1 Interest Amount $ 250,675.00
--------------
(d) Unpaid Class B-1 Interest Shortfall $ 0.00
--------------
(e) Class B-1 Interest Paid $ 250,675.00
--------------
(f) Class B-1 Interest Carryover Shortfall $ 0.00
--------------
Principal
- ---------
10. Group I Formula Principal Distribution Amount
(a) Scheduled Principal $ 364,336.34
-------------
(b) Principal Prepayments $4,026,087.49
-------------
(c) Liquidated Contracts $ 114,508.36
-------------
(d) Repurchases $ 0.00
-------------
(e) Previously undistributed (a)-(d) amounts $ 0.00
-------------
Total Principal $ 4,504,932.19
--------------
11. Group 2 Formula Principal Distribution Amount
(a) Scheduled Principal $ 211,648.34
-------------
(b) Principal Prepayments $1,861,499.23
-------------
(c) Liquidated Contracts $ 68,361.41
-------------
(d) Repurchases $ 0.00
-------------
(e) Previously undistributed (a)-(d) amounts $ 0.00
-------------
Total Principal $ 2,141,508.98
--------------
12. Amount Available less prior distributions $ 8,709,999.30
--------------
13. Class A-1 Formula Principal Distribution Amount $ 4,504,932.19
--------------
14. Class A-2 Formula Principal Distribution Amount $ 2,141,508.98
--------------
15. Class A Principal Distribution Amount
(a) Class A-1 Principal Paid $ 4,504,932.19
--------------
(b) Class A-2 Principal Paid $ 2,141,508.98
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 3
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
16. Class A Principal Balance (after distributions of principal on current
Payment Date)
(a) Class A-1 Principal Balance $167,851,144.86
---------------
(b) Class A-2 Principal Balance $ 88,398,524.63
---------------
Note Insurer
------------
17. Reimbursement Amount to Note Insurer $ 0.00
---------------
Class M-1 Principal
-------------------
18. Remaining Amount Available $ 2,063,558.13
---------------
19. Class M-1 Formula Principal Distribution Amount $ 0.00
---------------
20. Class M-1 Principal Distribution Amount $ 0.00
---------------
21. Class M-1 Principal Balance (after distributions of principal on
current Payment Date) $ 34,600,000.00
---------------
Class M-1 Principal Distribution Tests
--------------------------------------
(tests must be satisfied on and after the Payment Date occurring in July 2003)
22. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 1.76%
---------------
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic average of
of ratios for this month and two preceding months; may not exceed
10.0% of the Senior Subordination Percentage currently ________%.) 1.34%
---------------
23. Cumulative Realized Losses Test
(a) Cumulative Realized Losses 550,741.29
---------------
(b) Cumulative Realized Loss Ratio ( must not exceed 10% of the Cutoff
Date Pool Principal Balance between July 15, 2003 and July 14, 2004;
12% between July 15, 2004 and July 14, 2005; 14% between July 15, 2005
and July 14, 2006; and 15% thereafter. 0.14%
---------------
24. The sum of the Class M-1 Adjusted Principal Balance, the Class M-2
Adjusted Principal Balance,the Class B-1 Adjusted Principal Balance
and the Class B-2 Principal Balance, divided by the Pool Scheduled
Principal Balance as of the preceding payment date, must be equal to
or greater than 53.30% 28.85%
---------------
25. Supplementary Principal Distribution Test must be met.
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 4
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
Class M-2 Principal
-------------------
26. Remaining Amount Available $ 2,063,558.13
--------------
27. Class M-2 Formula Principal Distribution Amount $ 0.00
--------------
28. Class M-2 Principal Distribution Amount $ 0.00
--------------
29. Class M-2 Principal Balance (after distributions of principal on
current Payment Date) $23,600,000.00
--------------
Class M-2 Principal Distribution Tests
--------------------------------------
(tests must be satisfied on and after the Payment Date occurring in July 2003)
30. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 1.76%
--------------
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic average of
of ratios for this month and two preceding months; may not exceed
10.0% of the Senior Subordination Percentage currently ________%.) 1.34%
--------------
31. Cumulative Realized Losses Test
(a) Cumulative Realized Losses 550,741.29
--------------
(b) Cumulative Realized Loss Ratio ( must not exceed a specified
percentage of the cut-off date Pool Principal balance depending
on the year in which the payment date occurs ; currently
_________%. 0.14%
--------------
32. The sum of the Class M-2 Adjusted Principal Balance, the Class
the Class B-1 Adjusted Principal Balance and the Class B-2
Principal Balance, divided by the Pool Scheduled Principal Balance as
of the preceding payment date, must be equal to or greater than 36.00% 19.49%
--------------
33. Supplementary Principal Distribution Test must be met.
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 5
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
Class B-1 Principal
-------------------
34. Amount Available less all prior distributions $ 2,063,558.13
--------------
35. Class B-1 Formula Principal Distribution Amount $ 0.00
--------------
36. Class B-1 Principal Distribution Amount $ 0.00
--------------
37. Class B-1 Principal Balance (after distributions of principal on
current Payment Date) $22,200,000.00
--------------
Class B-1 Principal Distribution Tests
--------------------------------------
(tests must be satisfied on and after the Payment Date occurring in July 2003)
38. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 1.76%
--------------
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic average of
of ratios for this month and two preceding months; may not exceed
10.0% of the Senior Subordination Percentage currently ________%.) 1.34%
--------------
39. Cumulative Realized Losses Test
(a) Cumulative Realized Losses 550,741.29
--------------
(b) Cumulative Realized Loss Ratio (must not exceed a specified
percentage of the cut-off date Pool Principal balance depending
on the year in which the payment date occurs; currently
_________%. 0.14%
--------------
40. The sum of the Class B-1 Adjusted Principal Balance, the Class B-2
Principal Balance, divided by the Pool Scheduled Principal Balance
as of the preceding payment date, must be equal to or greater than 24.20%. 13.10%
--------------
41. Supplementary Principal Distribution Test must be met.
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 6
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
Liquidation Loss Interest; Total Distribution
Class M-1
---------
42. (a) Amount Available less all prior distributions $ 0.00
--------------
(b) Class M-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
--------------
(c) Amount applied to Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
(d) Remaining Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
43. Amount by which Class M-1 Formula Distribution Amount (lines 7(c) and (d),
20, 43(b)) exceeds Class M-1 Distribution Amount (lines 15(e), 29, 45(c)) $ 0.00
--------------
Class M-2 Notes
---------------
44. (a) Amount Available less all prior distributions $ 0.00
--------------
(b) Class M-2 Formula Liquidation Loss Interest Distribution Amount $ 0.00
--------------
(c) Amount applied to Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
(d) Remaining Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
--------------
45. Amount by which Class M-2 Formula Distribution Amount (lines 16(c) and (d),
32, 47(b)) exceeds Class M-2 Distribution Amount (lines 16(e), 33, 47(c)) $ 0.00
--------------
Class B-1
---------
46. (a) Amount Available less all prior distributions $ 0.00
--------------
(b) Class B-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
--------------
(c) Amount applied to Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
(d) Remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
--------------
47. Amount by which Class B-1 Formula Distribution Amount (lines 17(c) and (d),
42, 49(b)) exceeds Class B-1 Distribution Amount (lines 17(e), 43, 49(c)) $ 0.00
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 7
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
Class B-2
---------
48. Amount Available less all prior distributions $ 2,063,558.13
--------------
Interest
49. Class B-2 Interest Rate (11.16%)
(a) Class B-2 Interest Amount $ 243,660.00
--------------
(b) Unpaid Class B-2 Interest Shortfall $ 0.00
--------------
(c) Class B-2 Interest Paid $ 243,660.00
--------------
(d) Class B-2 Interest Carryover Shortfall $ 0.00
--------------
Principal
50. Amount Available after prior distributions $ 1,819,898.13
--------------
51. Class B-2 Formula Principal Distributions Amount $ 0.00
--------------
52. Class B-2 Liquidation Loss Principal Amount $ 0.00
--------------
53. Guaranty Payment $ 0.00
--------------
54. Class B-2 Principal Distribution Amount $ 0.00
--------------
55. Class B-2 Principal Balance (after distributions of principal on
current Payment Date) $26,200,000.00
--------------
56. Amount by which Class B-2 Formula Distribution Amount (lines 52(b) and (c),
54, and 55) exceeds Class B-2 Distribution Amount (lines 52(d) and 57) $ 0.00
--------------
Class B-2 Principal Distribution Tests
--------------------------------------
(tests must be satisfied on and after the Payment Date occurring in July 2003)
57. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 1.76%
--------------
(b) Average Sixty-Day Delinquency Ratio Test (arithmetic average of
of ratios for this month and two preceding months; may not exceed
10.0% of the Senior Subordination Percentage currently ________%.) 1.34%
--------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 8
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
58. Cumulative Realized Losses Test
(a) Cumulative Realized Losses 550,741.29
--------------
(b) Cumulative Realized Loss Ratio (must not exceed a specified
percentage of the cut-off date Pool Principal balance depending
on the year in which the payment date occurs; currently _________ %. 0.14%
--------------
59. The Class B-2 Principal Balance divided by the Pool Scheduled Principal
Balance as of the preceding payment date must be equal to or
greater than 13.10%. 7.09%
--------------
60. The Class B-2 Principal Balance must not be less than $2,000.000
B-2 Principal Balance 0.00%
--------------
61. Supplementary Principal Distribution Test must be met.
62. Monthly Servicing Fee (if Company is Servicer) 230,935.07
--------------
Supplementary Principal Distribution
------------------------------------
Class A
-------
63. Supplementary Principal Distribution Amount $ 0.00
--------------
(a) Class A-1 $ 0.00
--------------
(b) Class A-1 Principal Balance (after payment of(a)) $ 0.00
--------------
(c) Class A-2 $ 0.00
--------------
(d) Class A-2 Principal Balance (after payment of(c)) $ 0.00
--------------
64. Supplementary Principal Distribution Test; to be "satisfied,"
Cumulative Realized Loss Ratio (line 37(b)) may not exceed the
following ratio:
Payment Date Ratio
------------ -----
On or before June 2000 8.0%
After June 2000 and
On or before June 2001 12.0%
After June 2001 and 15.0%
On or before June 2002
After June 2001 and
On or before June 2002 18.0%
After June 2003 21.0%
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 9
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C> <C>
65. Additional Monthly Servicing Fee (portion, if any, in excess of 1/12 of
0.75% of Pool Scheduled Principal Balance; Company or Affiliate not
Servicer) $ 0.00
---------------
Certificate Distribution Amount
66. Amount Available remaining after prior distributions $ 1,588,963.06
---------------
Class A, Class M, Class B Notes
- -------------------------------
67. Pool Scheduled Principal Balance $362,849,669.49
---------------
68. Group I Pool Scheduled Principal Balance $238,118,730.32
---------------
a) Home Improvement Loans Loan Count 3,872 $104,741,485.15
------------- ---------------
b) Home Equity Loan Count 6,060 $133,377,245.17
------------- ---------------
69. Group II Pool Scheduled Principal Balance $124,730,939.17
---------------
a) Home Improvement Loans Loan Count 1,832 $ 51,210,348.80
------------- ---------------
b) Home Equity Loan Count 3,485 $ 73,520,590.37
------------- ---------------
70. Group I Pool Factor .90310203
---------------
71. Group II Pool Factor .91490303
---------------
72. Note Pool Factors
(a) Class A-1 Pool Factor .86789630
---------------
(b) Class A-2 Pool Factor .88398525
---------------
(c) Class M-1 Pool Factor 1.00000000
---------------
(d) Class M-2 Pool Factor 1.00000000
---------------
(e) Class B-1 Pool Factor 1.00000000
---------------
(f) Class B-2 Pool Factor 1.00000000
---------------
73. Group I Contracts Delinquent by number and aggregate Scheduled Principal Balance:
(a) 30-59 days - Total 3,348,025.56 168
-------------------- ------------
HI 1,528,580.56 68
-------------------- ------------
HE 1,819,445.00 100
-------------------- ------------
(b) 60-89 days - Total 1,274,312.05 57
-------------------- ------------
HI 348,595.05 15
-------------------- ------------
HE 925,717.00 42
-------------------- ------------
(c) 90 or more days - Total 2,046,739.55 79
-------------------- ------------
HI 1,055,214.38 38
-------------------- ------------
HE 991,525.17 41
-------------------- ------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 10
Distribution Date:
CUSIP# AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C> <C>
73. Group II Contracts Delinquent by number and aggregate Scheduled Principal Balance:
(a) 30-59 days - Total 1,111,749.03 51
-------------------- ------------
HI 335,931.03 15
-------------------- ------------
HE 775,818.00 36
-------------------- ------------
(b) 60-89 days - Total 504,479.29 25
-------------------- ------------
HI 83,926.29 5
-------------------- ------------
HE 420,553.00 20
-------------------- ------------
(c) 90 or more days - Total 1,281,304.03 37
-------------------- ------------
HI 289,778.86 11
-------------------- ------------
HE 507,883.13 26
-------------------- ------------
74. Group I Defaulted Contracts, by number and Scheduled Principal Balance:
(a) That became Defaulted Contracts during related Due Period
Total # 32 $ 614,253.18
------------- --------------
HI 5 99,414.32
------------- --------------
HE 27 514,838.86
------------- --------------
(b) As of last day of related Due Period - Total # 75 $ 1,364,654.41
------------- --------------
HI 0 0.00
------------- --------------
HE 75 1,364,654.41
------------- --------------
(c) That became Liquidated Contracts during related Due Period
Total # 6 $ 114,508.36
------------- --------------
HI 5 99,530.44
------------- --------------
HE 1 14,977.92
------------- --------------
(d) Net Liquidation Losses - Total # 6 $ 140,509.98
------------- --------------
HI 5 126,050.15
------------- --------------
HE 1 14,459.83
------------- --------------
(e) In Foreclosure - Total # 75 $ 1,364,654.41
------------- --------------
HI 0 0.00
------------- --------------
HE 75 1,364,654.41
------------- --------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT December 1999
PAGE 11
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
(f) Foreclosure completed during related Due Period
Total # 0 $ 0.00
------------- --------------
HI 0 0.00
------------- --------------
HE 0 0.00
------------- --------------
(g) Foreclosed upon and held by Servicer - Total # 0 $ 0.00
------------- --------------
HI 0 0.00
------------- --------------
HE 0 0.00
------------- --------------
75. Group II Defaulted Contracts, by number and Scheduled Principal Balance:
(a) That became Defaulted Contracts during related Due Period
Total # 12 $ 271,409.39
------------- --------------
HI 1 19,854.10
------------- --------------
HE 11 251,555.29
------------- --------------
(b) As of last day of related Due Period - Total # 19 $ 411,405.94
------------- --------------
HI 0 0.00
------------- --------------
HE 19 411,405.94
------------- --------------
(c) That became Liquidated Contracts during related Due Period
Total # 4 $ 68,361.41
------------- --------------
HI 1 19,941.42
------------- --------------
HE 3 48,419.99
------------- --------------
(d) Net Liquidation Losses - Total # 4 $ 75,388.18
------------- --------------
HI 1 21,416.35
------------- --------------
HE 3 53,971.83
------------- --------------
(e) In Foreclosure - Total # 19 $ 411,405.94
------------- --------------
HI 0 0.00
------------- --------------
HE 19 411,405.94
------------- --------------
(f) Foreclosure completed during related Due Period
Total # 0 $ 0.00
------------- --------------
HI 0 0.00
------------- --------------
HE 0 0.00
------------- --------------
(g) Foreclosed upon and held by Servicer - Total # 0 $ 0.00
------------- --------------
HI 0 0.00
------------- --------------
HE 0 0.00
------------- --------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT
AND HOME EQUITY LOANS 1999-B
MONTHLY REPORT
PAGE 12
Distribution Date: 1/18/00
CUSIP# 393511 AA8,AB6
AC4,AD2,AE0,AF7
Trust Account: 3337597-0
<TABLE>
<CAPTION>
<S> <C> <C>
76. Servicer Termination Test; to be "satisfied,"
(a) the Average Sixty-Day Delinquency Ratio may not exceed 7.5% 1.34%
-------------
(b) the sum of the Realized Losses for the preceding twelve Payment Dates
may not exceed 7.5% of the Pool Scheduled Principal Balance as of the
first Payment Date in such 12-month period, and 0.14%
-------------
(c) the Cumulative Realized Loss Ratio (line 29(b)) may not exceed the
following ratio:
Payment Date Ratio
------------ -----
On or before June 2000 8.0% 0.08%
-------------
After June 2000 and
On or before June 2001 12.0%
After June 2001 and 15.0%
On or before June 2002
After June 2002 and 18.0%
On or before June 2003
After June 2003 21.0%
</TABLE>
Please contact the Bondholder Relations Department of U.S. Bank Trust National
Association at (612) 973-5800 with any questions regarding this Statement or
your Distribution.
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