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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 LOAN TRUST 1999-E
------------------------------------------------------
(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 LOAN TRUST 1999-E
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 November 1, 1999 between the Company and U S Bank Trust
National Association, as Trustee of Home Improvement Loan Trust 1999-E (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 November 1, 1999 between the Company and U S Bank Trust
(N.A), as Trustee of Home Improvement Loan Trust 1999-E (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 LOANS 1999-E
MONTHLY REPORT December 1999
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
1. Amount Available (including Monthly Servicing Fee) $ 21,101,284.12
---------------------
2. Formula Principal Distribution Amount:
(a) Scheduled Principal $ 1,327,686.61
--------------------
(b) Principal Prepayments 13,713,643.98
--------------------
(c) Liquidated Loans 15,597.22
--------------------
(d) Repurchases 0.00
--------------------
(e) Previously undistributed (a)-(d) amounts 0.00
--------------------
(f) Pre-Funded Amount, if any
(Post-Funding Payment Date) 0.00
--------------------
Total Principal $ 15,056,927.81
---------------------
3. Senior Percentage 100%
---------------------
4. Class B Percentage 0%
---------------------
Class A Certificates
- --------------------
Interest
5. Aggregate Current Interest
(a) Class A-1 Pass-through Rate 6.32%
-----
(b) Class A-1 Interest $ 945,631.24
---------------------
(c) Class A-2 Pass-through Rate 6.91%
-----
(d) Class A-2 Interest $ 241,850.00
---------------------
(e) Class A-3 Pass-through Rate 7.18%
-----
(f) Class A-3 Interest $ 741,933.33
---------------------
(g) Class A-4 Pass-through Rate 7.64%
-----
(h) Class A-4 Interest $ 537,983.33
---------------------
6. Amount applied to Unpaid Class A Interest Shortfall $ 0.00
---------------------
7. Remaining Unpaid Class A Interest Shortfall $ 0.00
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 2
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
Class M-1 Certificates
- ----------------------
8. Amount Available less all preceding distributions $ 18,633,886.22
---------------------
Interest on Class M-1 Adjusted Principal Balance
9. Class M-1 Adjusted Principal Balance $ 48,000,000.00
---------------------
10. Current Interest
(a) Class M-1 Pass-through Rate (floating rate equal to the Weighted
Average Loan Rate, but in no event greater than 8.13%)
(b) Class M-1 Interest $ 325,200.00
---------------------
11. Amount applied to Unpaid Class M-1 Interest Shortfall $ 0.00
---------------------
12. Remaining Unpaid Class M-1 Interest Shortfall $ 0.00
---------------------
Class M-2 Certificates
- ----------------------
13. Amount Available less all preceding distributions $ 18,308,686.22
---------------------
Interest on Class M-2 Adjusted Principal Balance
14. Class M-2 Adjusted Principal Balance $ 28,500,000.00
---------------------
15. Current Interest
(a) Class M-2 Pass-through Rate (floating rate equal to the Weighted
Average Loan Rate, but in no event greater than 9.45%)
(b) Class M-2 Interest $ 224,437.50
---------------------
16. Amount applied to Unpaid Class M-2 Interest Shortfall $ 0.00
---------------------
17. Remaining Unpaid Class M-2 Interest Shortfall $ 0.00
---------------------
Class B-1 Certificates
- ----------------------
18. Amount Available less all preceding distributions $ 18,084,248.72
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 3
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
Interest on Class B-1 Adjusted Principal Balance
19. Class B-1 Adjusted Principal Balance $ 18,000,000.00
---------------------
20. Current Interest
(a) Class B-1 Pass-through Rate (floating rate equal to the Weighted
Average Loan Rate, but in no event greater than 10.34%)
(b) Class B-1 Interest $ 155,100.00
---------------------
21. Amount applied to Unpaid Class B-1 Interest Shortfall $ 0.00
---------------------
22. Remaining Unpaid Class B-1 Interest Shortfall $ 0.00
---------------------
Class A Certificates
- --------------------
23. Amount Available less all preceding distributions $ 17,929,148.72
---------------------
Principal
24. Class A Principal Distribution:
(a) Class A-1 $ 15,056,927.81
---------------------
(b) Class A-2 $ 0.00
---------------------
(c) Class A-3 $ 0.00
---------------------
(d) Class A-4 $ 0.00
---------------------
25. Class A Principal Balance:
(a) Class A-1 Principal Balance $ 164,493,307.33
---------------------
(b) Class A-2 Principal Balance $ 42,000,000.00
---------------------
(c) Class A-3 Principal Balance $ 124,000,000.00
---------------------
(d) Class A-4 Principal Balance $ 84,500,000.00
---------------------
26. Amount, if any, by which Class A Formula Principal Distribution Amount
exceeds the amount distributed pursuant to item (24) $ 0.00
---------------------
Class M-1 Certificates
- ----------------------
27. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 4
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
Principal
28. Class M-1 Principal Distribution $ 0.00
---------------------
29. Class M-1 Principal Balance $ 48,000,000.00
---------------------
30. Amount, if any, by which the amount in clause (c) of the Class M-1 Formula
Distribution Amount exceeds the amount distributed pursuant to item (28) $ 0.00
---------------------
Class M-2 Certificates
- ----------------------
31. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
Principal
32. Class M-2 Principal Distribution $ 0.00
---------------------
33. Class M-2 Principal Balance $ 28,500,000.00
---------------------
34. Amount, if any, by which the amount in clause (c) of the Class M-2 Formula
Distribution Amount (the "Class M-2 Formula Principal Distribution Amount")
exceeds the amount distributed pursuant to item (32) $ 0.00
---------------------
Class B Principal Distribution Tests
(tests must be satisfied on and after the Payment Date occurring in October 2002)
35. Average Sixty-Day Deliquency Ratio Test
(a) Sixty-Day Delinquency Ratio for current Payment Date 0.89%
---------------------
(b) Average Sixty-Day Delinquency Ratio Test (must not exceed 2.5%)
0.70%
---------------------
36. Average Thirty-Day Delinquency Ratio Test
(a) Thirty-Day Delinquency Ratio for current Payment Date 4.74%
---------------------
(b) Average Thirty-Day Delinquency Ratio Test ( arithmetic average of
ratios for this month and two preceding months; may not exceed 5.0%) 4.33%
---------------------
37. Cumulative Realized Losses Test
(a) Cumulative Realized Losses for current Payment Date ( as a percentage
of Cut-off Date Pool Principal Balance: may not exceed 10.0%.) 0.00%
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 5
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
38. Current Realized Losses Test
(a) Current Realized Losses for current Payment Date $ 17,517.12
---------------------
(b) Current Realized Loss Ratio (total Realized Losses for most
recent six months, multiplied by 2, divided by arithmetic
average of Pool Scheduled Principal Balance for sixth preceding
Payment Date and
for current Payment Date; may not exceed 2.5%) 0.01%
---------------------
39. Class B Principal Balance Test
(a) Class B Principal Balance divided by Pool Scheduled Principal Balance
for prior Payment Date (must equal or exceed 19.0%) 10.11%
---------------------
Class B-1 Certificates
- ----------------------
40. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
Principal
41. Class B-1 Principal Distribution $ 0.00
---------------------
42. Class B-1 Principal Balance $ 18,000,000.00
---------------------
43. Amount, if any, by which the amount in clause (c) of the Class B-1 Formula
Distribution Amount exceeds the amount distributed pursuant to item (41) $ 0.00
---------------------
Class M-1 Certificates
- ----------------------
44. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
Liquidation Loss Interest
45. Class M-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------------
46. Amount applied to Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
---------------------
47. Remaining Unpaid Class M-1 Liquidation Loss Interest Shortfall $ 0.00
---------------------
Class M-2 Certificates
- ----------------------
48. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 6
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
Liquidation Loss Interest
49. Class M-2 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------------
50. Amount applied to Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
---------------------
51. Remaining Unpaid Class M-2 Liquidation Loss Interest Shortfall $ 0.00
---------------------
Class B-1 Certificates
- ----------------------
52. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
Liquidation Loss Interest
53. Class B-1 Formula Liquidation Loss Interest Distribution Amount $ 0.00
---------------------
54. Amount applied to Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
---------------------
55. Remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall $ 0.00
---------------------
Class B-2 Certificates
- ----------------------
56. Amount Available less all preceding distributions $ 2,872,220.91
---------------------
Interest
57. Current Interest
(a) Class B-2 Pass-through Rate (floating rate equal to the Weighted
Average Loan Rate, but in no event greater than 11.01%)
(b) Class B-2 Interest $ 357,825.00
---------------------
58. Amount applied to Unpaid Class B-2 Interest Shortfall $ 0.00
---------------------
59. Remaining Unpaid Class B-2 Interest shortfall $ 0.00
---------------------
Principal
60. Class B-2 Principal Distribution $ 0.00
---------------------
61. Class B-2 Guaranty Payment $ 0.00
---------------------
62. Class B-2 Principal Balance $ 39,000,000.00
---------------------
63. Amount, if any, by which Class B2 Formula Distribution Amount plus
Class B-2 Liquidation Loss Principal Amount exceeds Class B2
Distribution Amount $ 0.00
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 7
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Class A, Class M, and Class B Certificates
64. Pool Scheduled Principal Balance $ 548,493,307.33
---------------------
65. Pool Factors
(a) Class A-1 Pool Factor .76154309
---------------------
(b) Class A-2 Pool Factor 1.00000000
---------------------
(c) Class A-3 Pool Factor 1.00000000
---------------------
(d) Class A-4 Pool Factor 1.00000000
---------------------
(e) Class M-1 Pool Factor 1.00000000
---------------------
(f) Class M-2 Pool Factor 1.00000000
---------------------
(g) Class B-1 Pool Factor 1.00000000
---------------------
(h) Class B-2 Pool Factor 1.00000000
---------------------
66. Loans Delinquent:
(a) 31-59 days 8,127,171.53 544
-------------------- ------------
(b) 60-89 days 1,791,008.32 131
-------------------- ------------
(c) 90 or more days 2,058,377.70 117
-------------------- ------------
67. Principal Balance of Defaulted Loans $ 1,032,922.22
---------------------
68. Number of Liquidated Loans and Net Liquidated Loss # 6 $ 17,517.12
---------------------- ---------------------
69. Number of Loans Remaining 29,400
---------------------
70. Number and Principal Balance of Home Improvement Loans with
FHA claims finally rejected, or no FHA claim was submitted
because FHA Insurance was unavailable # 0 $ 0.00
---------------------- ---------------------
71. FHA Insurance reserve amount $ 74,826,953.41
---------------------
72. Amount received from FHA Insurance $ 0.00
---------------------
73. (a) Net Liquidation Losses on all FHA Insurance Home Improvement Loans
that became Liquidated Loans in any prior Due Period $ 1,751.69
---------------------
(b) Aggregate Repurchase Price of all such Liquidated Loans $ 58,742.52
---------------------
(c) Ratio of (a) to (b) 2.98%
---------------------
74. Pre-Funded Amount $ 0.00
---------------------
</TABLE>
<PAGE>
CERTIFICATES FOR HOME IMPROVEMENT LOANS 1999-E
MONTHLY REPORT December 1999
PAGE 8
Distribution Date: 1/18/00
CUSIP# 393505 3V2 3W0
3X8 3Y6 4A7
4B5 4C3 4D1
Trust Account: 3337750-0
<TABLE>
<CAPTION>
<S> <C> <C>
Company
- -------
75. Monthly Servicing Fee $ 234,812.60
--------------------
76. Reimbursement for Unreimbursed
(a) FHA premiums $ 0.00
---------------------
(b) Advances $ 0.00
---------------------
Company
- -------
77. Class B-2 Guaranty Fee (3.00%) $ 1,408,875.59
--------------------
Class C Master Certificates
- ---------------------------
78. Class C Distribution Amount $ 870,707.72
--------------------
</TABLE>
Please contact the Bondholder Relations Department of U.S. Bank Trust
National Association at (612) 224-0444 with any questions regarding this
Statement or your Distribution.
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