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GREEN TREE FINANCIAL CORPORATION ANNOUNCES NEW FANNIE MAE PROGRAM AND INCREASED CREDIT FACILITY

 ST. PAUL, Minn., April 15 /PRNewswire/ -- Green Tree Financial Corporation (NYSE: GNT) today announced that it has been approved as a seller and servicer of second mortgages for Fannie Mae under their HomeStyle mortgage program.
 Green Tree's new program gives the Company greater flexibility in how it services the home improvement lending market. It will allow the Company to provide more financing options to the remodeling and home improvement industry, as well as to make a more efficient secondary market for conventional home improvement loans. Finally, Green Tree will be able to convert its conventional improvement loans into Fannie Mae certificates.
 Green Tree also announced that, to accommodate its increasing loan production, the Company has increased its borrowing facility with The First Boston Corporation from $100 million to $200 million. This increases the Company's total short term borrowing facilities to $710 million from $610 million.
 Green Tree Financial Corporation makes loans to individuals in the 48 contiguous states for manufactured homes, home improvements and motorcycles. It currently services approximately 350,000 contracts totaling $5.7 billion in outstanding principal balances. Green Tree's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "GNT".
 -0- 4/15/93
 /CONTACT: John Mackay of Padilla Speer Beardsley, 612-871-8877 or Richard G. Evans, Sr. Vice President, General Counsel and Secretary, Green Tree, 612-293-3400/
 (GNT)


CO: Green Tree Financial Corporation ST: Minnesota IN: FIN SU:

DS -- MN007 -- 6041 04/15/93 09:11 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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