EXHIBIT 99.16

KPMG
1600 Market Street
Philadelphia, PA  19103-7212

                         Independent Accountants' Report

The Board of Directors
GE Capital Mortgage Services, Inc.:

We have examined  management's  assertion  about GE Capital  Mortgage  Services,
Inc.'s (the Company's) compliance with the minimum servicing standards set forth
in the Mortgage  Bankers  Association of America's  Uniform  Single  Attestation
Program for Mortgage  Bankers for home equity loans (including those serviced by
the Company pursuant to various pooling and servicing agreements relating to the
Company's publicly rated  mortgage-backed  securities program) as of and for the
year ended December 31, 2000 included in the accompanying  management assertion.
Management  is  responsible  for the  Company's  compliance  with those  minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about the Company's compliance based on our examination.

Our  examination  was  made in  accordance  with  standards  established  by the
American  Institute of Certified Public Accountants and,  accordingly,  included
examining,  on a test basis,  evidence about the Company's  compliance  with the
minimum  servicing   standards  and  performing  such  other  procedures  as  we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal  determination  on the  Company's  compliance  with the minimum  servicing
standards.

In our opinion,  except for noncompliance  with minimum servicing  standard I.1,
management's  assertion  that the Company has complied in all material  respects
with the aforementioned  minimum servicing standards for home equity loans as of
and for the year ended  December 31,  2000,  is fairly  stated,  in all material
respects.

As discussed in management's  assertion,  the material noncompliance occurred at
the Company  during the year ended  December 31,  2000.  With respect to minimum
servicing  standard I.1., 3 of the 4 custodial  account  reconciliations  tested
contained  reconciling  items that were not resolved  within 90 calendar days of
their original identification.

These conditions were considered in determining the nature,  timing,  and extent
of  audit  tests  applied  in our  audit  of  the  2000  consolidated  financial
statements, and this report does not effect our report dated January 22, 2001 on
those consolidated financial statements.

                                  /s/ KPMG LLP

January 22, 2001
<PAGE>

Except for non-compliance with minimum servicing standard I.1 and IV.1 described
below,  as of and for the year ended  December  31,  2000,  GE Capital  Mortgage
Services,  Inc.  (the  Company) has complied in all material  respects  with the
minimum  servicing  standards set forth in the Mortgage  Bankers  Association of
America's Uniform Single Attestation Program for Mortgage Bankers. As of and for
the same  period,  the  Company  had in effect a  fidelity  bond and  errors and
omissions policy in the amounts of $150 million and $150 million, respectively.

With respect to minimum  servicing  standard I.1, certain accounts have not been
reconciled within 45 days of cutoff and certain accounts  contained  reconciling
items that were not resolved  within ninety (90) calendar days of their original
identification.  It is the  company's  policy to reconcile  all accounts  within
required timeframes and clear all reconciling items within thirty (30) days from
the date of their original  identification.  The company has undertaken a review
of our custodial account reconciliation processes and dedicated the resources to
correct any unreconciled accounts and to avoid future occurrences.

/s/ Jacqui M. Peace
-------------------
Jacqui M. Peace
SVP & General Manager
GE Capital Mortgage Services, Inc.