Exhibit 10.1

 

THE BANK OF NEW YORK     

101 Barclay Street, 8 West

   Distribution Date: 2/17/04

New York, NY 10286

    

Officer:        Trish O’Neill-Manella

  212.815.3956     

Associate:    Cirino Emanuele

  212.815.3087     

 

GreenPoint Mortgage Securities Inc.

 

GreenPoint Home Equity Loan Trust 2003-1

 

Home Equity Loan Asset-Backed Notes

 

Series 2003-1

 

Certificateholder Monthly Distribution Summary

 

Class

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  Cusip

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  Class
Description

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Certificate
Rate

Type

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  Beginning
Balance

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  Pass
Through
Rate (%)

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  Principal
Distribution

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  Interest
Distribution

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  Total
Distribution

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  Current
Realized
Losses

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Ending

Balance

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Cumulative

Realized
Losses

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A

  395385AP2   Senior   Var-Act/360   180,859,697.41   1.364380   10,486,006.40  
185,071.02   10,671,077.50   0.00    170,373,690.93    0.00

R

  N/A   Senior   Fix-30/360   0.00   0.000000   0.00   0.00   0.00   0.00   
0.00    0.00                

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Totals

              180,859,697.41   1.364380   10,486,006.40   185,071.02  
10,671,077.50   0.00    170,373,690.93    0.00                

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Principal Distribution Detail

 

Class

--------------------------------------------------------------------------------

  Cusip

--------------------------------------------------------------------------------

  Original
Certificate
Balance

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  Beginning
Certificate
Balance

--------------------------------------------------------------------------------

  Scheduled
Principal
Distribution

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  Accretion
Principal

--------------------------------------------------------------------------------

  Unscheduled
Principal
Adjustments

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Net

Principal
Distribution

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  Current
Realized
Losses

--------------------------------------------------------------------------------

  Ending
Certificate
Balance

--------------------------------------------------------------------------------

  

Ending
Certificate

Factor

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A

  395385AP2   290,418,000.00   180,859,697.41   10,486,006.49   0.00   0.00  
10,486,006.40   0.00   170,373,690.93    0.58664990094

R

  N/A   0.00   0.00   0.00   0.00   0.00   0.00   0.00   0.00    0.00000000000  
     

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Totals

      290,418,000.00   180,859,697.41   10,486,006.49   0.00   0.00  
10,486,006.40   0.00   170,373,690.93             

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Interest Distribution Detail

 

Class

--------------------------------------------------------------------------------

  Beginning
Certificate
Balance

--------------------------------------------------------------------------------

  Pass
Through
Rate (%)

--------------------------------------------------------------------------------

  Accrued
Optimal
Interest

--------------------------------------------------------------------------------

  Cumulative
Unpaid
Interest

--------------------------------------------------------------------------------

  Deferred
Interest

--------------------------------------------------------------------------------

  Total
Interest Due

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  Net
Prepayment
Int
Shortfall

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  Unscheduled
Interest
Adjustment

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Interest

Paid

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A

  203,158,178.97   1.3643890   185,071.02   0.00   0.00   185,071.02   0.00  
0.00   185,071.02

R

  0.00   0.000000   0.00   0.00   0.00   0.00   0.00   0.00   0.00    

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Totals

  203,158,178.97   1.3643890   185,071.02   0.00   0.00   185,071.02   0.00  
0.00   185,071.02    

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Current Payment Information

 

Factors per $1,000

 

Class

--------------------------------------------------------------------------------

   Cusip

--------------------------------------------------------------------------------

   Original
Certificate
Balance

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Beginning Cert.
Notional

Balance

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   Principal
Distribution

--------------------------------------------------------------------------------

   Interest
Distribution

--------------------------------------------------------------------------------

  

Ending Cert.
Notional

Balance

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   Pass
Through
Rate (%)

--------------------------------------------------------------------------------

A

   395385AP2    290,418,000.00    622.756500681    36.106599453    0.637257386
   586.649900035    1.364380

R

   N/A    0.00    0.000000000    0.000000000    0.000000000    0.000000000   
0.000000          

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Totals

        290,418,000.00    622.756500681    36.106599453    0.637257386   
586.649900035               

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Pool Level Data

         

Distribution Date

        3/15/04

Cut-off Date

        5/1/03

Determination Date

        3/1/04

Accrual Period 30/360

   Begin    2/1/04      End    3/1/04

Number of Days in 30/360 Accrual Period

        30

Accrual Period Actual Days

   Begin    2/17/04      End    2/15/04

Number of Days in Actual Accrual Period

        27

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Collateral Information

 

Group 1

      

Cut-Off Date Balance

   282,542,470.48  

Beginning Aggregate Pool Stated Principal Balance

   186,527,856.68  

Ending Aggregate Pool Stated Principal Balance

   176,705,015.35  

Beginning Aggregate Certificate Stated Principal Balance

   180,859,697.41  

Ending Aggregate Certificate Stated Principal Balance

   170,373,690.93  

Beginning Aggregate Loan Count

   4,466   Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing
Agreement    214  

Ending Aggregate Loan Count

   4,252  

Beginning Weighted Average Loan Rate (WAC)

   6.680828 %

Ending Weighted Average Loan Rate (WAC)

   6.661550 %

Beginning Net Weighted Average Loan Rate

   6.173828 %

Ending Net Weighted Average Loan Rate

   6.661550 %

Weighted Average Maturity (WAM) (Months)

   205  

Aggregate Pool Prepayment

   7,603,221.48  

Pool Prepayment Rate

   40.0391 CPR  

Certificate Account

      

Beginning Balance

   0.00  

Deposit

      

Payments of Interest and Principal

   10,746,797.89  

Liquidation Proceeds

   25,000.00  

All Other Proceeds

   0.00  

Other Amounts

   0.00  

Total Deposits

   10,771,797.89  

Withdrawals

      

Reimbursement of Servicer Advances

   0.00  

Payment of Master Servicer Fees

   77,719.94  

Payment of Sub Servicer Fees

   0.00  

Payment of Other Fees

   0.00  

Payment of Insurance Premium(s)

   0.00  

Payment of Personal Mortgage Insurance

   0.00  

Other Permitted Withdrawal per the Pooling and Service Agreement

   23,000.45  

Payment of Principal and Interest

   10,671,077.50  

Total Withdrawals

   10,771,797.89  

Ending Balance

   0.00  

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Delinquency Information

 

Group 1                                     

Delinquency

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   30-59 Days

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    60-89 Days

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    90-179 Days

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    180-269 Days

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    270+ Days

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    Totals

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  Scheduled Principal Balance    2,498,826.36     211,422.44     711,899.25    
328,071.58     344,953.07     4,095,172.70   Percentage of Total Pool Balance   
1.414123 %   0.119647 %   0.402874 %   0.185661 %   0.195214 %   2.317519 %
Number of Loans    73     4     23     7     3     110   Percentage of Total
Loans    1.716839 %   0.094073 %   0.540922 %   0.164628 %   0.070555 %  
2.587018 % Foreclosure                                      Scheduled Principal
Balance                                  564,871.76   Percentage of Total Pool
Balance                                  0.319669 % Number of Loans             
                    12   Percentage of Total Loans                             
    0.282220 % Bankruptcy                                      Scheduled
Principal Balance                                  381,208.91   Percentage of
Total Pool Balance                                  0.215732 % Number of Loans
                                 7   Percentage of Total Loans                 
                0.164628 % REO                                      Scheduled
Principal Balance                                  0.00   Percentage of Total
Pool Balance                                  0.000000 % Number of Loans       
                          0   Percentage of Total Loans                         
        0.000000 % Book Value of all REO Loans                                 
0.00   Percentage of Total Pool Balance                                 
0.000000 % Current Realized Losses                                  66,315.75  
Additional Gains (Recoveries)/Losses                                  0.00  
Total Realized Losses                                  648,793.01  

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Reserve Fund Information

 

Demand Note Reserve Account     

Beginning Balance

   2,875,529.52

Deposits

   0.00

Accrued Interest

   0.00

Withdrawals

   0.00

Ending Balance

   2,875,529.52

 

OVERCOLLATERALIZATION REPORTING

 

Ending Overcollateralization Amount

   6,331,324.42

Specified Overcollateralization Amount

   7,639,827.38

Overcollateralization Reduction Amount

   0.00

Excess Interest used as Accelerated Principal

   729,480.91

 

ADDITIONAL REPORTING ITEMS

 

Cumulative losses as percentage of original Pool Balance

   0.22563380 %

Cumulative losses as percentage of current Pool Balance

   0.36716163 %

12-month rolling average of cumulative losses as percentage of original Pool
Balance

   0.67984973 %

3-month rolling average of Mortgage Loans 60+ days delinquent

   0.01086309 %

Relief Act Shortfall

   0.00  

Gross Prepayment Interest Shortfall

   0.00  

Net Prepayment Interest Shortfall

   0.00  

Total outstanding principal balance of 3 largest Mortgage Loans

   1,095,857.04  

Draw Amount

   1,663,900.07