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Related Issuers
Green Tree Financial Corporation MH 1992-01
Green Tree Financial Corporation MH 1992-02
Green Tree Financial Corporation MH 1993-01
Green Tree Financial Corporation MH 1993-02
Green Tree Financial Corporation MH 1993-03
Green Tree Financial Corporation MH 1994-01
Green Tree Financial Corporation MH 1994-02
Green Tree Financial Corporation MH 1994-03
Green Tree Financial Corporation MH 1994-04
Green Tree Financial Corporation MH 1994-05
Green Tree Financial Corporation MH 1994-06
Green Tree Financial Corporation MH 1994-07
Green Tree Financial Corporation MH 1994-08
Green Tree Financial Corporation MH 1995-01
Green Tree Financial Corporation MH 1995-02
Green Tree Financial Corporation MH 1995-03
Green Tree Financial Corporation MH 1995-04
Green Tree Financial Corporation MH 1995-05
Green Tree Financial Corporation MH 1995-06
Green Tree Financial Corporation MH 1995-07
Green Tree Financial Corporation MH 1995-08
Green Tree Financial Corporation MH 1995-09
Green Tree Financial Corporation MH 1995-10
Green Tree Financial Corporation MH 1996-01
Green Tree Financial Corporation MH 1996-02
Green Tree Financial Corporation MH 1996-03
Green Tree Financial Corporation MH 1996-04
Green Tree Financial Corporation MH 1996-05
Green Tree Financial Corporation MH 1996-06
Green Tree Financial Corporation MH 1996-07
Green Tree Financial Corporation MH 1996-08
Green Tree Financial Corporation MH 1996-09
Green Tree Financial Corporation MH 1997-01
Green Tree Financial Corporation MH 1997-02
Green Tree Financial Corporation MH 1997-03
Green Tree Financial Corporation MH 1997-04
Green Tree Financial Corporation MH 1997-05
Green Tree Financial Corporation MH 1997-07
Rating Action:

MOODY'S REVIEWS GREEN TREE SECURITIZATIONS FOR POSSIBLE DOWNGRADE

19 Nov 1997
MOODY'S REVIEWS GREEN TREE SECURITIZATIONS FOR POSSIBLE DOWNGRADE New York, 11-19-97 -- Moody's Investors Service is reviewing certain Green Tree securitizations for possible downgrade. The affected deals include all of Green Tree's net interest margin securitizations (NIM deals) as well as Green Tree's manufactured housing, home improvement and recreational equipment deals which rely on a corporate guarantee from the company.

According to Moody's vice president Pramila Gupta, the rating action follows Moody's announcement last Friday that the Baa1 rating of Green Tree's long-term senior debt securities had been placed under review for possible downgrade. That rating action, in turn, was triggered primarily by high prepayments on Green Tree's manufactured housing securitizations. The high prepayments on the manufactured housing deals compelled Green Tree to dramatically write down the value of its subordinated interest in the NIM deals.

Moody's review of Green Tree's NIM deals is motivated by the same factors that triggered the review of Green Tree's senior debt. Moody's review of the NIM deals will focus on the evolving prepayment and default performance of the underlying manufactured housing deals and on the steps Green Tree takes to support the NIM deals.

Moody's review of the deals that rely on a corporate guarantee from Green Tree is directly linked to the review of Green Tree's senior debt. The affected securities include the most subordinated class of certificates from thirty eight manufactured housing transactions, fourteen home improvement transactions and two recreational equipment transactions dating from 1992 through 1997. No other classes from Green Tree's manufactured housing, home improvement, or recreational equipment deals are covered by the review.

The complete rating actions are as follows:

Under review for possible downgrade from Baa1:
Green Tree Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates
Series 1992-1; $38.161 mil., 8.75% Class B Certificates
Series 1992-2; $49.015 mil., 9.15% Class B Certificates
Series 1993-1; $30.048 mil., 8.45% Class B Certificates
Series 1993-2; $65.338 mil., 8.00% Class B Certificates
Series 1993-3; $79.602 mil., 6.85% Class B Certificates
Series 1994-1; $36.506 mil., 7.85% Class B-2 Certificates
Series 1994-2; $25.209 mil., 8.55% Class B-2 Certificates
Series 1994-3; $12.806 mil., 8.65% Class B-2 Certificates
Series 1994-4; $20.017 mil., 8.60% Class B-2 Certificates
Series 1994-5; $25.021 mil., 8.55% Class B-2 Certificates
Series 1994-6; $30.185 mil., 9.00% Class B-2 Certificates
Series 1994-7; $21.210 mil., 9.35% Class B-2 Certificates
Series 1994-8; $31.392 mil., 9.40% Class B-2 Certificates
Series 1995-1; $22.722 mil., 9.20% Class B-2 Certificates
Series 1995-2; $16.457 mil., 8.80% Class B-2 Certificates
Series 1995-3; $22.636 mil., 8.10% Class B-2 Certificates
Series 1995-4; $12.804 mil., 7.70% Class B-2 Certificates
Series 1995-5; $18.054 mil., 7.65% Class B-2 Certificates
Series 1995-6; $17.845 mil., 8.00% Class B-2 Certificates
Series 1995-7; $13.904 mil., 7.70% Class B-2 Certificates
Series 1995-8; $19.197 mil., 7.65% Class B-2 Certificates
Series 1995-9; $15.948 mil., 7.55% Class B-2 Certificates
Series 1995-10; $16.212 mil., 7.40% Class B-2 Certificates
Series 1996-1; $15.967 mil., 7.30% Class B-2 Certificates
Series 1996-2; $18.618 mil., 7.90% Class B-2 Certificates
Series 1996-3; $14.884 mil., 8.05% Class B-2 Certificates
Series 1996-4; $16.615 mil., 8.10% Class B-2 Certificates
Series 1996-5; $18.116 mil., 8.45% Class B-2 Certificates
Series 1996-6; $16.625 mil., 8.35% Class B-2 Certificates
Series 1996-7; $16.800 mil., 8.10% Class B-2 Certificates
Series 1996-8; $21.052 mil., 8.30% Class B-2 Certificates
Series 1996-9; $15.750 mil., 8.11% Class B-2 Certificates
Series 1997-1; $17.500 mil., 7.76% Class B-2 Certificates
Series 1997-2; $19.250 mil., 8.05% Class B-2 Certificates
Series 1997-3; $28.000 mil., 8.03% Class B-2 Certificates
Series 1997-4; $18.200 mil., 7.73% Class B-2 Certificates
Series 1997-5; $19.250 mil., 7.49% Class B-2 Certificates
Series 1997-7; $19.250 mil., 7.59% Class B-2 Certificates

Under review for possible downgrade from Baa3:
$508 mil., 6.90% Green Tree Securitized Net Interest Margin Trust 1994-A, Class A
$92.4mil., 7.85% Green Tree Securitized Net Interest Margin Trust 1994-B, Class A
$308 mil., 7.25% Green Tree Securitized Net Interest Margin Trust 1995-A, Class A

Under review for possible downgrade:
Green Tree Home Improvement Loan Trust:
Series 1994-BI; $9.055 mil., 8.70% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1994-BII; $15.180 mil., 7.85% Class A-2 Certificates on review for possible downgrade from Baa2
Series 1994-CI; $10.717 mil., 8.90% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1994-CII; $12.482 mil., 8.10% Class A-2 Certificates on review for possible downgrade from Baa2
Series 1994-D; $9.871 mil., 9.30% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1994-E; $12.282 mil., 9.15% Certificates on review for possible downgrade from Baa2
Series 1995-A; $12.305 mil., 8.45% Class B Certificates on review for possible downgrade from Baa1
Series 1995-B; $12.179 mil., 8.15% Certificates on review for possible downgrade from A3
Series 1995-C; $8.409 mil., 7.60% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1995-D; $10.442 mil., 7.45% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1995-E; $32.241 mil., 6.80% Certificates on review for possible downgrade from A3
Series 1995-F; $8.022 mil., 7.10% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1996-A; $5.626 mil., 7.40% Class B-2 Certificates on review for possible downgrade from Baa1
Series 1996-B; $25.130 mil., 6.45% Class A Certificates on review for possible downgrade from A3

Under review for possible downgrade:
Green Tree Recreational Equipment & Consumer Trust:
Series 1996-A; $12.947 mil., 5.95% Class B Certificates on review for possible downgrade from Baa1
Series 1997-A; $15 mil., 7.43% Subordinate Certificates on review for possible downgrade from Baa1

Green Tree Financial Corporation, based in Saint Paul, Minnesota, USA, is a financial services company that originates and services manufactured housing, subprime mortgages and consumer loans. At the end of June 30, 1997 the company serviced $15.1 billion of manufactured housing contracts.

No Related Data.
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