Green Tree Financial Corp. said this week it is sharply cutting back issuance of commercial paper, a sign that the company may be paring its operations.

The manufactured housing lender said it has halved each of its two revolving credit lines to $375 million.

Green Tree has also received a $500 million loan from Lehman Brothers Holdings Inc., to be used for general corporate purposes, including financing of existing and future residuals.

The company took two writedowns in recent months because loans were prepaying faster than anticipated and announced in February that it would restate its 1996 earnings.

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