<PAGE>

                                 Exhibit 10.1
<TABLE>
<CAPTION>
GreenPoint Mortgage                                              SERVICING CERTIFICATE

====================================================================================================================================
<S>                         <C>                                       <C>       <C>                              <C>
Revolving Home Equity Loan  LIBOR:                                    6.52250%  Current Collection Period:       05/01/00-05/31/00
Asset-Backed Notes          Margin A-1:                               0.30000%  P&S Agreement Date:                        12/1/99

Series 1999-2               Class A-1  Note Rate:                     6.82250%  Original Closing Date:                    12/22/99
                            Class A-2  Note Rate:                     6.90250%  Distribution Date:                         6/15/00
                            Margin A-2:                               0.38000%  Record Date:                               6/14/00
                            Interest Period 05/15/00 thru 06/14/00       31     Pool Factor:                            94.9846511%

                            Servicing Fee Rate:                       0.50000%  Initial Class A-1 O/C Amt:                   22.71
                            Class A-1 Premium Fee Rate:               0.18000%  Initial Class A-2 O/C Amt:                  565.15
                            Class A-2 Premium Fee Rate:               0.18000%

                                                                                Class A-1 O/C Amt as of Pmt Date      2,523,583.32
                            Trustee Fee:                              0.00900%  Class A-2 O/C Amt as of Pmt Date        509,531.76
                            Class A-1 Act Weighted Avg Ln Rate:      12.11883%
                            Class A-2 Act Weighted Avg Ln Rate:      11.98167%

                            Total Management Fee                       500.00
====================================================================================================================================

BALANCES
     Beginning Class A-1 Pool Balance                                                                               195,776,439.55
     Beginning Class A-2 Pool Balance                                                                                46,227,848.41

     Beginning Class A-1 Note Balance -- CUSIP 395385AA5                                                            191,470,920.68
     Beginning Class A-2 Note Balance -- CUSIP 395385AB3                                                             45,868,825.86

     Class A-1 Overcollateralization Amount to Fill                                                                   2,885,191.67
     Class A-2 Overcollateralization Amount to Fill                                                                     929,308.38

     Ending Class A-1 Pool Balance                                                                                  190,948,506.57
     Ending Class A-2 Pool Balance                                                                                   45,409,654.68

     Ending Class A-1 Note Balance -- CUSIP 395385AA5                                                               188,424,923.25
     Ending Class A-2 Note Balance -- CUSIP  395385AB3                                                               44,900,122.92

     Additional Balances  Class A-1                                                                                   3,550,405.48
     Additional Balances  Class A-2                                                                                   1,277,499.71

     Number of all Retransferred Mortgage Loans (Current Retransfer Date)                                                        0
     Retransferred Mortgage Loan Trust Balances (Current Retransfer Date)                                                     0.00
     Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions)                                         0
     Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions)                                      0.00
     Number of all Subsequent  Class A-1 HELOC Mortgage Loans (Current Date)                                                  1108
     Subsequent Class A-1 HELOC Mortgage Loan Asset Balance (Current Date)                                                    0.00
     Number of all Subsequent Class A-2 Heloc Loans (Current Date)                                                               0
     Subsequent Class A-2 HELOC Loan Asset Balance (Current Date)                                                             0.00
     Number of all Subsequent HLTV Mortgage Loans (Current Date)                                                                 0
     Subsequent HLTV Mortgage Loan Asset Balance (Current Date)                                                               0.00
     Cumulative Number of ALL Subsequent Mortgage Loans                                                                          0
     Cumulative Subsequent Mortgage Loan Asset Balance                                                                        0.00
     Class A-1 Cumulative Excess of Draws Over Principal Paydown                                                              0.00
     Class A-1 Cumulative Excess of Draws Over Principal Paydown Recoup this Distribution                             2,501,416.84
     Beginning Loan Count                                                                                                    5,404
     Ending Loan Count                                                                                                       5,274
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                  <C>
COLLECTION AMOUNTS Class A-1
   1    Aggregate of All Mortgage Collections (Gross)                                                                10,334,821.70
   2    Total Mortgage Interest Collections (Gross)                                                                   1,956,483.24
        Servicing Fees (current collection period)                                                                       81,573.52
        Deferred Interest Transfer (DI)                                                                                       0.00
     3a    Mortgage Principal Collections                                                                             8,378,338.46
     3b    Pre-Funded Balance                                                                                                 0.00
     3c    Net Liquidation Proceeds                                                                                           0.00

   3    Total Mortgage Principal Collections                                                                          8,378,338.46
        Aggregate of Transfer Deposits                                                                                        0.00
        Investor Loss Amount                                                                                                  0.00
        Aggregate Investor Loss Reduction Amount                                                                              0.00

COLLECTION AMOUNTS Class A-2
   1    Aggregate of All Mortgage Collections (Gross)                                                                 2,545,431.21
   2    Total Mortgage Interest Collections (Gross)                                                                     449,737.77
        Servicing Fees (current collection period)                                                                       19,261.60
        Deferred Interest Transfer (DI)                                                                                       0.00
     3a    Mortgage Principal Collections                                                                             2,095,693.44
     3b    Pre-Funded Balance                                                                                                 0.00
     3c    Net Liquidation Proceeds                                                                                           0.00

   3    Total Mortgage Principal Collections                                                                          2,095,693.44
        Aggregate of Transfer Deposits                                                                                        0.00
        Investor Loss Amount                                                                                                  0.00
        Aggregate Investor Loss Reduction Amount                                                                              0.00

TOTAL COLLECTION AMOUNT
   1    Aggregate of All Mortgage Collections (Gross)                                                                12,880,252.91
   2    Total Mortgage Interest Collections (Gross)                                                                   2,406,221.01
        Servicing Fees (current collection period)                                                                      100,835.12
        Deferred Interest Transfer (DI)                                                                                       0.00
     3a    Mortgage Principal Collections                                                                            10,474,031.90
     3b    Insurance Proceeds                                                                                                 0.00
     3c    Net Liquidation Proceeds                                                                                           0.00
   3    Total Mortgage Principal Collections                                                                         10,474,031.90
        Aggregate of Transfer Deposits                                                                                        0.00
        Investor Loss Amount                                                                                                  0.00
        Aggregate Investor Loss Reduction Amount                                                                              0.00


        Class A-1 Net Interest Collection                                                                             1,874,909.72
        Class A-2 Net Interest Collection                                                                               430,476.17



DISTRIBUTION AMOUNTS Class A-1
        Class A-1 Note Interest 8.6 (d)(iv)                                                                           1,124,878.36
        Class A-1 Note Unpaid Interest Shortfall (current cycle)                                                              0.00
        Class A-1 Note Reserve Fund Amount                                                                                    0.00
        Investor Loss Amount                                                                                                  0.00
        Previous Investor Loss Amount                                                                                         0.00
        Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                                      28,720.64
        Credit Enhancer Reimbursement                                                                                         0.00
        Accelerated Principal Distribution Amount                                                                       719,481.29
        Spread Account Deposit                                                                                                0.00
        Indenture Trustee Fee 8.6 (d)(i)                                                                                  1,436.03
        Management Fee 8.6 (d)(iii)                                                                                         393.40
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                <C>
        Payment to Servicer                                                                                                0.00
        Deferred Interest                                                                                                  0.00
        Remaining Amount to Transferor                                                                                     0.00
        Total Certificateholders Distribution Allocable to Interest                                                1,874,909.72


        Maximum Principal Payment                                                                                  2,326,516.14
        Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the HELOC Pool O/C                      0.00
        Redctin Amt) 8.6(d)(v)
        Accelerated Principal Distribution Amount                                                                    719,481.29
        Loan Loss                                                                                                          0.00
        Class A-1 Overcollateralization Deficit 8.6 (d)(vi)                                                                0.00
        Total Certificateholders Distribution Allocable to                                                         3,045,997.43
        Principal


DISTRIBUTION AMOUNTS Class A-2
        Class A-2 Note    Interest 8.6 (d)(iv)                                                                       272,636.02
        Class A-2 Note    Unpaid Interest Shortfall (current cycle)                                                        0.00
        Class A-2 Note    Reserve Fund Amount                                                                              0.00
        Investor Loss Amount                                                                                               0.00
        Previous Investor Loss Amount                                                                                      0.00
        Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                                    6,880.32
        Credit Enhancer Reimbursement                                                                                      0.00
        Accelerated Principal Distribution Amount                                                                    150,509.21
        Spread Account Deposit                                                                                             0.00
        Indenture  Trustee Fee 8.6 (d)(i)                                                                                344.02
        Management Fee 8.6 (d)(iii)                                                                                      106.60
        Payment to Servicer                                                                                                0.00
        Deferred Interest                                                                                                  0.00
        Remaining Amount to Transferor                                                                                     0.00
        Total Certificateholders Distribution Allocable to                                                           430,476.17
        Interest


        Maximum Principal Payment                                                                                    818,193.73
        Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the Second Pool O/C                     0.00
        Redctin Amt) 8.6(d)(v)
        Accelerated Principal Distribution Amount                                                                    150,509.21
        Loan Loss                                                                                                          0.00
        Class A-2 Overcollateralization Deficit 8.6 (d)(vi)                                                                0.00
        Total Certificateholders Distribution Allocable to                                                           968,702.94
        Principal





TOTAL DISTRIBUTION AMOUNT
        Class A Note    Interest 8.6 (d)(iv)                                                                       1,397,514.38
        Class A Note    Unpaid Interest Shortfall (current cycle) 5.01(i)                                                  0.00
        Class A Note    Reserve Fund Amount                                                                                0.00
        Investor Loss Amount  5.01(iii)                                                                                    0.00
        Previous Investor Loss Amount 5.01(iv)                                                                             0.00
        Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                                   35,600.96
        Credit Enhancer Reimbursement 5.01(vi)                                                                             0.00
        Accelerated Principal Distribution Amount 5.01(vii)                                                          869,990.50
        Spread Account Deposit 5.01(viii)                                                                                  0.00
        Indenture  Trustee Fee 8.6 (d)(i)                                                                              1,780.05
        Management Fee 8.6 (d)(iii)                                                                                      500.00
        Payment to Servicer per Section 7.03 5.01 (x)                                                                      0.00
        Deferred Interest 5.01 (xi)                                                                                        0.00
        Remaining Amount to Transferor 5.01 (xii)                                                                          0.00
        Total Certificateholders Distribution Allocable to Interest                                                2,305,385.89
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                <C>
        Maximum Principal Payment                                                                                  3,144,709.87
        Scheduled Principal Collection Payment                                                                             0.00
        Accelerated Principal Distribution Amount                                                                    869,990.50
        Loan Loss                                                                                                          0.00
        Overcollateralization Deficit 8.6 (d)(vi)                                                                          0.00
        Total Certificateholders Distribution Allocable to Principal                                               4,014,700.37




LOSSES/RETRANSFERS

        Unpaid Class A-1 Note    Interest Shortfall Due (From Previous Distributions)                                      0.00
        Unpaid Class A-2 Note    Interest Shortfall Due (From Previous Distributions)                                      0.00
        Interest Earned on Shortfall @ applicable Certificate Rate                                                         0.00
        Investor Loss Reduction Amount (From Previous Distributions)                                                       0.00


DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)
Class A-1
        Total Class A-1 Note Distribution Amount Allocable to Interest                                                5.8200924
        Interest Distribution Amount                                                                                  5.8200924
        Unpaid Note Interest Shortfall Included in Current Distribution                                               0.0000000
        Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                               0.0000000


        Total Class A-1 Note Distribution Amount Allocable to Principal                                              15.7599143
        Maximum Principal Payment                                                                                    12.0373361
        Scheduled Principal Collections Payment                                                                       0.0000000
        Loan Loss                                                                                                     0.0000000
        Accelerated Principal Distribution Amount                                                                     3.7225781


Class A-2
        Total Class A-2 Note Distribution Amount Allocable to Interest                                                5.2059580
        Interest Distribution Amount                                                                                  5.2059580
        Unpaid Note Interest Shortfall Included in Current Distribution                                               0.0000000
        Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                               0.0000000


        Total Class A-2 Note Distribution Amount Allocable to Principal                                              18.4972874
        Maximum Principal Payment                                                                                    15.6233288
        Scheduled Principal Collections Payment                                                                       0.0000000
        Loan Loss                                                                                                     0.0000000
        Accelerated Principal Distribution Amount                                                                     2.8739586



        Total Interest Amount Distributed to Class A Certificateholder                                               11.0260504
        Total Principal Amount Distributed to Class A Certificateholder                                              34.2572016

        Credit Enhancement Draw Amount                                                                                     0.00

DELINQUENCIES/FORECLOSURES

Class A-1
        Number of Mortgages 30 to 59 Days Delinquent                                                                         92
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         3,518,524.00
        Number of Mortgages 60 to 89 Days Delinquent                                                                         22
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                           898,733.08
        Number of Mortgages 90 to 179 Days Delinquent                                                                         4
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          165,521.98
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                <C>
        Number of Mortgages 180 or more Days Delinquent                                                                       1
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                         28,075.47
        Number of Mortgage Loans in Foreclosure                                                                               7
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                269,166.28

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00

Class A-2
        Number of Mortgages 30 to 59 Days Delinquent                                                                         12
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         1,479,706.70
        Number of Mortgages 60 to 89 Days Delinquent                                                                          1
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                             6,142.98
        Number of Mortgages 90 to 179 Days Delinquent                                                                         1
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          295,710.57
        Number of Mortgages 180 or more Days Delinquent                                                                       0
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                              0.00
        Number of Mortgage Loans in Foreclosure                                                                               0
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                      0.00

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00

TOTAL DELINQUENCIES/FORECLOSURES

        Number of Mortgages 30 to 59 Days Delinquent                                                                        104
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         4,998,230.70
        Number of Mortgages 60 to 89 Days Delinquent                                                                         23
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                           904,876.06
        Number of Mortgages 90 to 179 Days Delinquent                                                                         5
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          461,232.55
        Number of Mortgages 180 or more Days Delinquent                                                                       1
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                         28,075.47
        Number of Mortgage Loans in Foreclosure                                                                               7
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                269,166.28

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00

================================================================================================================================

RESERVE FUND ACTIVITY

        Class A-1 Reserve Fund  Beginning Balance                                                                          0.00
        Class A-1 Reserve Fund  Deposit/Withdrawal                                                                         0.00
        Class A-1 Reserve Fund  Ending Balance                                                                             0.00

        Class A-2 Reserve Fund  Beginning Balance                                                                          0.00
        Class A-2 Reserve Fund  Deposit/Withdrawal                                                                         0.00
        Class A-2 Reserve Fund  Ending Balance                                                                             0.00
</TABLE>

                                       5
<PAGE>

<TABLE>
<S>                                                                                                             <C>
PRE-FUNDED ACCOUNT ACTIVITY

        Beginning Balance Pre-Funded Account                                                                      50,000,000.00
        Remaining Amount for Distribution to Classes                                                                       0.00
        Withdrawal for Subsequent Loan Purchase:                                                                 (49,999,441.28)
        Ending Balance Pre-Funded Account                                                                                558.72

        All Computations reflected in this Servicer Certificate were made in
        conformity with the Pooling and Servicing Agreement.

        The Attached Servicing Certificate is true and correct in all material respects.

        _____________________________________________________________
        A Servicing Officer    Teri Martine
</TABLE>

                                       6
<PAGE>

--------------------------------------------------------------------------------
GREENPOINT                    STATEMENT TO NOTEHOLDERS
MORTGAGE
================================================================================
<TABLE>
<CAPTION>
Revolving Home Equity Loan   LIBOR:                        6.52250%  Current Collection Period:  05/01/00-05/31/00
Asset-Backed Notes           Margin:                       0.30000%  P&S Agreement Date:             12/1/99
Series 1999-2                Class A-1  Note Rate:         6.82250%  Original Closing Date:          12/22/99
                             Class A-2  Note Rate:         6.90250%  Distribution Date:              6/15/00
                                                                     Record Date:                    6/14/00
                               Interest Period 05/15/00       31     Pool Factor:                  94.9846511%
                                    thru 06/14/00:

==================================================================================================================
<S>                                                                                                <C>
          BALANCES
          Beginning HELOC Pool Balance                                                             195,776,439.55
          Beginning Second Lien Pool Balance                                                        46,227,848.41


          Beginning Class A-1 Note Balance -- CUSIP 395385AA5                                      191,470,920.68
          Beginning Class A-2 Note Balance -- CUSIP 395385AB3                                       45,868,825.86


          Ending Class A-1 Pool Balance                                                            190,948,506.57
          Ending Class A-2 Pool Balance                                                             45,409,654.68


          Ending Class A-1 Note Balance -- CUSIP                                                   188,424,923.25
          Ending Class A-2 Note Balance -- CUSIP                                                    44,900,122.92

          Additional Balances  Class A-1                                                             3,550,405.48
          Additional Balances  Class A-2                                                             1,277,499.71

          Number of all Retransferred Mortgage Loans (Current Retransfer Date)                                  0
          Retransferred Mortgage Loan Trust Balances (Current Retransfer Date)                               0.00
          Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions)                   0
          Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions)                0.00
          Number of all Subsequent HELOC Mortgage Loans (Current Date)                                      1,108
          Subsequent HELOC Mortgage Loan Asset Balance (Current Date)                                        0.00
          Number of all SubsequentSecond Lien Mortgage Loans (Current Date)                                     0
          Subsequent Second Lien Mortgage Loan Asset Balance (Current Date)                                  0.00
          Number of all Subsequent HLTV Mortgage Loans (Current Date)                                           0
          Subsequent HLTV Mortgage Loan Asset Balance (Current Date)                                         0.00
          Cumulative Number of ALL Subsequent Mortgage Loans                                                    0
          Cumulative Subsequent Mortgage Loan Asset Balance                                                  0.00
          Class A-1 Cumulative Excess of Draws Over Principal Paydown                                        0.00

          Beginning Loan Count                                                                              5,404
          Ending Loan Count                                                                                 5,274


COLLECTION AMOUNTS Class A-1
          Aggregate of All Mortgage Collections                                                     10,253,248.18
          Total Mortgage Interest Collections                                                        1,956,483.24
          Servicing Fees (current collection period)                                                  (81,573.52)
               Mortgage Principal Collections                                                        8,378,338.46
               Pre-Funded Balance                                                                            0.00
                                                                                                             0.00

          Total Mortgage Principal Collections                                                       8,378,338.46
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                 <C>
COLLECTION AMOUNTS Class A-2
          Aggregate of All Mortgage Collections                                                      2,526,169.61
          Total Mortgage Interest Collections                                                          449,737.77
          Servicing Fees (current collection period)                                                  (19,261.60)
               Mortgage Principal Collections                                                        2,095,693.44
               Pre-Funded Balance                                                                            0.00
                                                                                                             0.00

          Total Mortgage Principal Collections                                                       2,095,693.44


TOTAL COLLECTION AMOUNT
          Aggregate of All Mortgage Collections                                                     12,880,252.91
          Total Mortgage Interest Collections                                                        2,406,221.01
               Mortgage Principal Collections                                                       10,474,031.90
               Pre-Funded Balance                                                                            0.00

          Total Mortgage Principal Collections                                                      10,474,031.90



DISTRIBUTION AMOUNTS Class A-1
          Class A-1 Note    Interest                                                                 1,124,878.36
          Class A-1 Note    Unpaid Interest Shortfall (current cycle)                                        0.00
          Class A-1 Note    Reserve Fund Amount                                                              0.00

          Maximum Principal Payment                                                                  2,326,516.14
          Scheduled Principal Collection                                                                     0.00
          Accelerated Principal Distribution Amount                                                    719,481.29
          Loan Loss                                                                                          0.00
          Class A-1 Overcollateralization Deficit                                                            0.00
          Total Certificateholders Distribution Allocable to                                         3,045,997.43
          Principal

DISTRIBUTION AMOUNTS Class A-2
          Class A-2 Note    Interest                                                                   272,636.02
          Class A-2 Note    Unpaid Interest Shortfall (current cycle)                                        0.00
          Class A-2 Note    Reserve Fund Amount                                                              0.00

          Maximum Principal Payment                                                                    818,193.73
          Scheduled Principal Collection                                                                     0.00
          Accelerated Principal Distribution Amount                                                    150,509.21
          Loan Loss                                                                                          0.00
          Class A-2 Overcollateralization Deficit                                                            0.00
          Total Certificateholders Distribution Allocable to Principal                                 968,702.94

TOTAL DISTRIBUTION AMOUNT
          Class A Note Interest                                                                      1,397,514.38
          Class A Note Unpaid Interest Shortfall (current cycle)                                             0.00
          Class A Note  Reserve Fund Amount                                                                  0.00

          Maximum Principal Payment                                                                  3,144,709.87
          Scheduled Principal Collection Payment                                                             0.00
          Accelerated Principal Distribution Amount                                                    869,990.50
          Overcollateralization Deficit                                                                      0.00
          Total Certificateholders Distribution Allocable to Principal                               4,014,700.37
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
LOSSES/RETRANSFERS
<S>                                                                                                                <C>
        Unpaid Class A-1 Note  Interest Shortfall Due (From Previous Distributions)                                        0.00
        Unpaid Class A-2 Note  Interest Shortfall Due (From Previous Distributions)                                        0.00
        Interest Earned on Shortfall @ applicable Certificate Rate                                                         0.00

        Investor Loss Reduction Amount (From Previous Distributions)                                                       0.00


DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)

Class A-1
        Total Class A-1 Note Distribution Amount Allocable to Interest                                                5.8200924
        Interest Distribution Amount                                                                                  5.8200924
        Unpaid Note Interest Shortfall Included in Current Distribution                                               0.0000000
        Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                               0.0000000

        Total Class A-1 Note Distribution Amount Allocable to Principal                                              15.7599143
        Maximum Principal Payment                                                                                    12.0373361
        Scheduled Principal Collections Payment                                                                       0.0000000
        Loan Loss                                                                                                     0.0000000
        Accelerated Principal Distribution Amount                                                                     3.7225781

Class A-2

        Total Class A-2 Note Distribution Amount Allocable to Interest                                                5.2059580
        Interest Distribution Amount                                                                                  5.2059580
        Unpaid Note Interest Shortfall Included in Current Distribution                                               0.0000000
        Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                               0.0000000

        Total Class A-2 Note Distribution Amount Allocable to Principal                                              18.4972874
        Maximum Principal Payment                                                                                    15.6233288
        Scheduled Principal Collections Payment                                                                       0.0000000
        Loan Loss                                                                                                     0.0000000
        Accelerated Principal Distribution Amount                                                                     2.8739586

        Total Interest Amount Distributed to Class A Certificateholder                                               11.0260504
        Total Principal Amount Distributed to Class A Certificateholder                                              34.2572016

        Credit Enhancement Draw Amount                                                                                     0.00

DELINQUENCIES/FORECLOSURES

Class A-1
        Number of Mortgages 30 to 59 Days Delinquent                                                                         92
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         3,518,524.00
        Number of Mortgages 60 to 89 Days Delinquent                                                                         22
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                           898,733.08
        Number of Mortgages 90 to 179 Days Delinquent                                                                         4
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          165,521.98
        Number of Mortgages 180 or more Days Delinquent                                                                       1
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                         28,075.47
        Number of Mortgage Loans in Foreclosure                                                                               7
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                269,166.28

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                                <C>
Class A-2
        Number of Mortgages 30 to 59 Days Delinquent                                                                         12
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         1,479,706.70
        Number of Mortgages 60 to 89 Days Delinquent                                                                          1
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                             6,142.98
        Number of Mortgages 90 to 179 Days Delinquent                                                                         1
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          295,710.57
        Number of Mortgages 180 or more Days Delinquent                                                                       0
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                              0.00
        Number of Mortgage Loans in Foreclosure                                                                               0
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                      0.00

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00


TOTAL DELINQUENCIES/FORECLOSURES

        Number of Mortgages 30 to 59 Days Delinquent                                                                        104
        Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                         4,998,230.70
        Number of Mortgages 60 to 89 Days Delinquent                                                                         23
        Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                           904,876.06
        Number of Mortgages 90 to 179 Days Delinquent                                                                         5
        Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                          461,232.55
        Number of Mortgages 180 or more Days Delinquent                                                                       1
        Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                         28,075.47
        Number of Mortgage Loans in Foreclosure                                                                               7
        Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                269,166.28

        Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                          0.00
        Aggregate Trust Balances of any Liquidated Loans in the Current Month                                              0.00


================================================================================================================================

        Class A-1 Note Rate For Next Distribution         LIBOR       TBD                                        #VALUE

RESERVE FUND ACTIVITY

        Class A-1 Reserve Fund Beginning Balance                                                                           0.00
        Class A-1 Reserve Fund Deposit/Withdrawal                                                                          0.00
        Class A-1 Reserve Fund Ending Balance                                                                              0.00

        Class A-2 Reserve Fund Beginning Balance                                                                           0.00
        Class A-2 Reserve Fund Deposit/Withdrawal                                                                          0.00
        Class A-2 Reserve Fund Ending Balance                                                                              0.00
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