Exhibit 10.1

 

THE BANK OF NEW YORK

               

101 Barclay Street, 8 West

          Distribution Date: 9/15/03

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

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

   Current
Realized
Losses

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

   Ending
Balance

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

   Cumulative
Realized
Losses

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

A

   395385AP2    Senior    Var-Act/360    254,151,576.49    1.380000   
14,632,413.35    302,016.79    14,934,430.14    —      239,519,163.14    —  

R

        Senior    Fix-30/360    —      0.000000    —      —      —      —     
—      —                      

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Totals

                  254,151,576.49         14,632,413.35    302,016.79   
14,934,430.14    —      239,519,163.14    —                      

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Principal Distribution Detail

 

Class

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

   Cusip

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

   Original
Certificate
Balance

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

   Beginning
Certificate
Balance

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

   Scheduled
Principal
Distribution

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

   Accretion
Principal

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

   Unscheduled
Principal
Adjustments

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

   Net Principal
Distribution

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

   Current
Realized
Losses

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

   Ending
Certificate
Balance

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

   Ending
Certificate
Factor

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

A

   395385AP2    290,418,000.00    254,151,576.49    14,632,413.35    —      —  
   14,632,413.35    —      239,519,163.14    0.82473938646

R

        —      —      —      —      —      —      —      —      0.00000000000  
       

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Totals

        290,418,000.00    254,151,576.49    14,632,413.35    —      —     
14,632,413.35    —      239,519,163.14               

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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

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

   Net
Prepayment
Int
Shortfall

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

   Unscheduled
Interest
Adjustment

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   Interest Paid

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

A

   254,151,576.49    1.380000    302,016.79    —      —      302,016.79    —  
   —      302,016.79

R

   —      0.000000    —      —      —      —      —      —      —       

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Totals

   254,151,576.49         302,016.79    —      —      302,016.79    —      —  
   302,016.79     

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Current Payment Information

 

Factors per $1,000

 

Class

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

   Cusip

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

   Original
Certificate
Balance

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Beginning

Cert.

Notional

Balance

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

   Principal
Distribution

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

   Interest
Distribution

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

  

Ending

Cert.

Notional

Balance

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

   Pass
Through
Rate (%)

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

A

   395385AP2    290,418,000.00    875.123361805    50.383975344    1.039938262
   824.739386461    1.380000

R

        —      0.000000000    0.000000000    0.000000000    0.000000000   
0.000000          

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Totals

        290,418,000.00    875.123361810    50.383975339    1.039938261   
824.739386471               

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Pool Level Data

         

Distribution Date

        9/15/2003

Cut-off Date

        5/1/2003

Determination Date

        9/1/2003

Accrual Period 30/360

   Begin    8/1/2003      End    9/1/2003

Number of Days in 30/360 Accrual Period

        30

Accrual Period Actual Days

   Begin    8/15/2003      End    9/15/2003

Number of Days in Actual Accrual Period

        31

 

Collateral Information

Group 1

 

Cut-Off Date Balance

   287,542,470.48  

Beginning Aggregate Pool Stated Principal Balance

   254,929,274.35  

Ending Aggregate Pool Stated Principal Balance

   241,308,817.07  

Beginning Aggregate Certificate Stated Principal Balance

   254,151,576.49  

Ending Aggregate Certificate Stated Principal Balance

   239,519,163.14  

Beginning Aggregate Loan Count

   6061  

Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement

   305  

Ending Aggregate Loan Count

   5756  

Beginning Weighted Average Loan Rate (WAC)

   6.837238 %

Ending Weighted Average Loan Rate (WAC)

   6.819665 %

Beginning Net Weighted Average Loan Rate

   6.330238 %

Ending Net Weighted Average Loan Rate

   6.312665 %

Weighted Average Maturity (WAM) (Months)

   208  

Aggregate Pool Prepayment

   11,152,399.30  

Pool Prepayment Rate

   41.8510 CPR  

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Certificate Account

    

Beginning Balance

   —  

Deposit

    

Payments of Interest and Principal

   15,077,776.14

Liquidation Proceeds

   —  

All Other Proceeds

   —  

Other Amounts

   —  

Total Deposits

   15,077,776.14

Withdrawals

    

Reimbursement of Servicer Advances

   —  

Payment of Master Servicer Fees

   106,220.53

Payment of Sub Servicer Fees

   —  

Payment of Other Fees

   —  

Payment of Insurance Premium(s)

   —  

Payment of Personal Mortgage Insurance

   —  

Other Permitted Withdrawal per the Pooling and Service Agreement

   37,125.47

Payment of Principal and Interest

   14,934,430.14

Total Withdrawals

   15,077,776.14

Ending Balance

   —  

 

Delinquency Information

 

Group 1                                      Delinquency    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

   2,409,790.42     858,888.95     1,061,489.28     —       —       4,330,168.65
 

Percentage of Total Pool Balance

   0.998633 %   0.355929 %   0.439888 %   0.000000 %   0.000000 %   1.794451 %

Number of Loans

   67     19     17     0     0     103  

Percentage of Total Loans

   1.164003 %   0.330090 %   0.295344 %   0.000000 %   0.000000 %   1.789437 %

Foreclosure

                                    

Scheduled Principal Balance

                                 170,700.00  

Percentage of Total Pool Balance

                                 0.070739 %

Number of Loans

                                 2  

Percentage of Total Loans

                                 0.034746 %

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Bankruptcy

      

Scheduled Principal Balance

   88,577.27  

Percentage of Total Pool Balance

   0.036707 %

Number of Loans

   4  

Percentage of Total Loans

   0.069493 %

REO

      

Scheduled Principal Balance

   —    

Percentage of Total Pool Balance

   0.000000 %

Number of Loans

   0  

Percentage of Total Loans

   0.000000 %

Book Value of all REO Loans

   —    

Percentage of Total Pool Balance

   0.000000 %

Current Realized Losses

   —    

Additional Gains (Recoveries)/Losses

   —    

Total Realized Losses

   —    

 

Reserve Fund Information

 

Demand Note Reserve Account

    

Beginning Balance

    

Deposits

   2,875,529.52

Accrued Interest

   —  

Withdrawals

   —  

Ending Balance

   —        2,875,529.52

 

OVERCOLLATERALIZATION REPORTING

 

Ending Overcollateralization Amount

   1,789,653.93

Specified Overcollateralization Amount

   7,188,561.76

Overcollateralization Reduction Amount

   —  

Excess Interest used as Accelerated Principal

   1,011,956.07

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ADDITIONAL REPORTING ITEMS

 

Cumulative losses as percentage of originial Pool Balance

   0.00000000 %

Cumulative losses as percentage of current Pool Balance

   0.00000000 %

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

   0.00000000 %

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

   0.00607484  

Relief Act Shortfall

   —    

Gross Prepayment Interest Shortfall

   —    

Net Prepayment Interest Shortfall

   —    

Total outstanding principal balance of 3 largest Mortgage Loans

   1,036,652.27  

Draw Amount

   3,543,069.62