Exhibit 10.1

 

THE BANK OF NEW YORK

         

101 Barclay Street, 8 West

       

Distribution Date: 10/15/03

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    Cusip

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

   Class
Description

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

   Certificate
Rate Type

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

   Beginning
Balance

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

   Pass
Through
Rate (%)

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

   Principal
Distribution

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

   Interest
Distribution

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

   Total
Distribution

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

   Current
Realized
Losses

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

   Ending Balance

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

A

   395385AP2    Senior    Var-Act/360    239,519,163.14    1.390000   
12,827,241.17    277,443.03    13,104,684.20    —      226,691,921.96

R

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

Totals

                  239,519,163.14         12,827,241.17    277,443.03   
13,104,684.20    —      226,691,921.96

 

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    239,519,163.14    12,827,241.17    —      —  
   12,827,241.17    —      226,691,921.96    0.78057118348

R

        —      —      —      —      —      —      —      —      0.00000000000

Totals

        290,418,000.00    239,519,163.14    12,827,241.17    —      —     
12,827,241.17    —      226,691,921.96     

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

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

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

   Interest Paid

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

A

   239,519,163.14    1.390000    277,443.03    —    —    277,443.03    —    —   
277,443.03

R

   —    0.000000    —    —    —    —      —    —    —

Totals

   239,519,163.14         277,443.03    —    —    277,443.03    —    —   
277,443.03

 

Current Payment Information

Factors per $1,000

 

Class

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

   Cusip

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

   Original
Certificate
Balance

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

   Beginning Cert.
Notional Balance

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

   Principal
Distribution

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

   Interest
Distribution

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

   Ending Cert.
Notional Balance

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

   Pass
Through
Rate (%)

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

A

   395385AP2    290,418,000.00    824.739386461    44.168202984    0.955323123
   780.571183477    1.390000

R

        —    0.000000000    0.000000000    0.000000000    0.000000000   
0.000000

Totals

        290,418,000.00    824.739386471    44.168202970    0.955323120   
780.571183467     

 

Pool Level Data            

Distribution Date

          10/15/2003

Cut-off Date

          5/1/2003

Determination Date

          10/1/2003

Accrual Period 30/360

     Begin    9/1/2003        End    10/1/2003

Number of Days in 30/360 Accrual Period

          30

Accrual Period Actual Days

     Begin    9/15/2003                      End    10/15/2003

Number of Days in Actual Accrual Period

          30

 

2

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

Collateral Information

 

Group 1       

Cut-Off Date Balance

   287,542,470.48  

Beginning Aggregate Pool Stated Principal Balance

   241,308,817.07  

Ending Aggregate Pool Stated Principal Balance

   229,468,779.38  

Beginning Aggregate Certificate Stated Principal Balance

   239,519,163.14  

Ending Aggregate Certificate Stated Principal Balance

   226,691,921.96  

Beginning Aggregate Loan Count

   5756  

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

   302  

Ending Aggregate Loan Count

   5454  

Beginning Weighted Average Loan Rate (WAC)

   6.818127 %

Ending Weighted Average Loan Rate (WAC)

   6.783350 %

Beginning Net Weighted Average Loan Rate

   6.311127 %

Ending Net Weighted Average Loan Rate

   6.276350 %

Weighted Average Maturity (WAM) (Months)

   208  

Aggregate Pool Prepayment

   9,739,278.20  

Pool Prepayment Rate

   39.2741 CPR  

Certificate Account

      

Beginning Balance

   —  

Deposit

      

Payments of Interest and Principal

   13,239,233.34  

Liquidation Proceeds

   —  

All Other Proceeds

   —  

Other Amounts

   —  

Total Deposits

   13,239,233.34  

Withdrawals

      

Reimbursement of Servicer Advances

   —  

Payment of Master Servicer Fees

   100,545.34  

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

   34,003.79

Payment of Principal and Interest

   13,104,684.20

Total Withdrawals

   13,239,233.34

Ending Balance

   —

 

Delinquency Information

 

Group 1                                    

Delinquency

  30-59 Days     60-89 Days     90-179 Days     180-269 Days     270+ Days    
Totals  

Scheduled Principal Balance

  2,631,248.29     729,740.62     938,864.60     326,424.65     —    
4,626,278.16  

Percentage of Total Pool Balance

  1.146669 %   0.318013 %   0.409147 %   0.142252 %   0.000000 %   2.016082 %

Number of Loans

  64     21     19     6     0     110  

Percentage of Total Loans

  1.173451 %   0.385039 %   0.348368 %   0.110011 %   0.000000 %   2.016868 %

Foreclosure

                                   

Scheduled Principal Balance

                                412,746.88  

Percentage of Total Pool Balance

                                0.179871 %

Number of Loans

                                5  

Percentage of Total Loans

                                0.091676 %

Bankruptcy

                                   

Scheduled Principal Balance

                                296,528.02  

Percentage of Total Pool Balance

                                0.129224 %

Number of Loans

                                8  

Percentage of Total Loans

                                0.146681 %

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

   2,776,857.42

Specified Overcollateralization Amount

   7,482,343.95

Overcollateralization Reduction Amount

   —  

Excess Interest used as Accelerated Principal

   987,203.48

 

ADDITIONAL REPORTING ITEMS

 

Cumulative losses as percentage of current 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

   0.00741065  

Relief Act Shortfall

   —    

Gross Prepayment Interest Shortfall

   —    

Net Prepayment Interest Shortfall

   —    

Total outstanding principal balance of 3 largest Mortgage Loans

   1,042,516.20  

Draw Amount

   3,615,747.74