Exhibit 10.1

THE BANK OF NEW YORK

         

101 Barclay Street, 8 West

        Distribution Date: 11/17/03

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

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   Current
Realized
Losses

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Ending

Balance

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A

   395385AP2    Senior    Var-Act/360    226,691,921.96    1.390000   
12,884,710.65    288,843.29    13,173,553.94    —      213,807,211.31

R

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

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Totals

                  226,691,921.96         12,884,710.65    288,843.29   
13,173,553.94    —      213,807,211.31                    

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Principal Distribution Detail

 

Class

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

   Cusip

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

   Original
Certificate
Balance

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   Beginning
Certificate
Balance

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   Scheduled
Principal
Distribution

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   Accretion
Principal

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   Unscheduled
Principal
Adjustments

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Net

Principal
Distribution

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   Current
Realized
Losses

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

  Ending
Certificate
Balance

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  Ending
Certificate
Factor

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A

   395385AP2    290,418,000.00    226,691,921.96    12,884,710.65    —      —  
  12,884,710.65    —     213,807,211.31   0.73620509511

R

   N/A    —      —      —      —      —     —      —     —     0.00000000000  
       

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Totals

        290,418,000.00    226,691,921.96    12,884,710.65    —      —    
12,884,710.65    —     213,807,211.31              

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Interest Distribution Detail

Class

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

   Beginning
Certificate
Balance

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

   Pass
Through
Rate (%)

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

   Accrued
Optimal
Interest

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   Cumulative
Unpaid
Interest

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   Deferred
Interest

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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

   226,691,921.96    1.390000    288,843.29    —      —      288,843.29   —    
—     288,843.29

R

   —      0.000000    —      —      —      —     —     —     —       

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Totals

   226,691,921.96         288,843.29    —      —      288,843.29   —     —    
288,843.29     

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Current Payment Information

Factors per $1,000

 

Class

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

   Cusip

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   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 (%)

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A

   395385AP2    290,418,000.00    780.571183477    44.366088363    0.994577783
   736.205095114    1.390000

R

   N/A    —      0.000000000    0.000000000    0.000000000    0.000000000   
0.000000          

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Totals

        290,418,000.00    780.571183467    44.366088362    0.994577781   
736.205095104               

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Pool Level Data

         

Distribution Date

        11/17/2003

Cut-off Date

        5/1/2003

Determination Date

        11/1/2003

Accrual Period 30/360

   Begin    10/1/2003      End    11/1/2003

Number of Days in 30/360 Accrual Period

        30

Accrual Period Actual Days

   Begin    10/15/2003      End    11/17/2003

Number of Days in Actual Accrual Period

        33

 

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Collateral Information  

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Group 1

      

Cut-Off Date Balance

   287,542,470.48  

Beginning Aggregate Pool Stated Principal Balance

   229,468,779.38  

Ending Aggregate Pool Stated Principal Balance

   217,381,944.01  

Beginning Aggregate Certificate Stated Principal Balance

   226,691,921.96  

Ending Aggregate Certificate Stated Principal Balance

   213,807,211.31  

Beginning Aggregate Loan Count

   5454  

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

   289  

Ending Aggregate Loan Count

   5165  

Beginning Weighted Average Loan Rate (WAC)

   6.783770 %

Ending Weighted Average Loan Rate (WAC)

   6.755985 %

 

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Beginning Net Weighted Average Loan Rate

   6.276770 %

Ending Net Weighted Average Loan Rate

   6.248985 %

Weighted Average Maturity (WAM) (Months)

   208  

Aggregate Pool Prepayment

   9,930,688.28  

Pool Prepayment Rate

   41.9768 CPR  

Certificate Account

      

Beginning Balance

   —    

Deposit

      

Payments of Interest and Principal

   13,304,429.44  

Liquidation Proceeds

   14.68  

All Other Proceeds

   —    

Other Amounts

   —    

Total Deposits

   13,304,444.12  

Withdrawals

      

Reimbursement of Servicer Advances

   —    

Payment of Master Servicer Fees

   95,611.99  

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

   35,278.19  

Payment of Principal and Interest

   13,173,553.94  

Total Withdrawals

   13,304,444.12  

Ending Balance

   —    

 

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Delinquency Information  

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Group 1                                     

Delinquency

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

Scheduled Principal Balance

   1,966,259.22     1,044,988.47     920,789.25     244,182.61     —      
4,176,219.55  

Percentage of Total Pool Balance

   0.904518 %   0.480715 %   0.423581 %   0.112329 %   0.000000 %   1.921144 %

Number of Loans

   55     22     25     3     0     105  

Percentage of Total Loans

   1.064860 %   0.425944 %   0.484027 %   0.058083 %   0.000000 %   2.032914 %

Foreclosure

                                    

Scheduled Principal Balance

                                 436,081.54  

Percentage of Total Pool Balance

                                 0.200606 %

Number of Loans

                                 6  

Percentage of Total Loans

                                 0.116167 %

Bankruptcy

                                    

Scheduled Principal Balance

                                 212,368.95  

Percentage of Total Pool Balance

                                 0.097694 %

Number of Loans

                                 6  

Percentage of Total Loans

                                 0.116167 %

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

                                 156,927.36  

Additional Gains (Recoveries)/Losses

                                 —    

Total Realized Losses

                                 156,927.36  

 

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Reserve Fund Information

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Demand Note Reserve Account

    

Beginning Balance

    

Deposits

   2,875,529.52

Accrued Interest

   —  

Withdrawals

   —  

Ending Balance

   —        2,875,529.52

 

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OVERCOLLATERALIZATION REPORTING

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Ending Overcollateralization Amount

   3,574,732.70

Specified Overcollateralization Amount

   7,408,326.11

Overcollateralization Reduction Amount

   —  

Excess Interest used as Accelerated Principal

   954,802.64

 

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ADDITIONAL REPORTING ITEMS  

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Cumulative losses as percentage of original Pool Balance

   0.05457537 %

Cumulative losses as percentage of current Pool Balance

   0.07218969 %

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

   0.05457537 %

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

   0.00893952  

Relief Act Shortfall

   —    

Gross Prepayment Interest Shortfall

   —    

Net Prepayment Interest Shortfall

   —    

Total outstanding principal balance of 3 largest Mortgage Loans

   1,062,977.27  

Draw Amount

   2,767,463.52