<PAGE>

                                 Exhibit 10.1


CONTACTS
----------------------------------------------------------------------------

    Administrator:             Barbara A Campbell
    Direct Phone No:           (714)247-6278
    Address:                   Deutsche Bank
                               1761 E. St. Andrew Place
                               Santa Ana, CA 92705

    Web Site:                  http://www-apps.gis.deutsche-bank.com/invr
    Factor Information:        (800) 735-7777
    Main Phone No:             (714) 247-6000
----------------------------------------------------------------------------


ISSUANCE INFORMATION
<TABLE>
--------------------------------------------------------------------------------------------------------------------------------
    <S>                     <C>                                                     <C>                     <C>
    Seller:                 GreenPoint Mortgage                                     Cut-Off Date:           February 28, 2001
    Certificate Insurer:    Financial Guaranty Insurance Corporation                Closing Date:           April 12, 2001
    Servicer(s):            GreenPoint Mortgage - Master Servicer                   First Payment Date      May 15, 2001

    Underwriter(s):         Lehman Brothers Securities Corporation - Underwriter    Distribution Date:      June 15, 2001
                                                                                    Record Date:            June 14, 2001
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                   GreenPoint Home Equity Loan Trust 2001-1
                  Home Equity Loan Asset-Backed Certificates
                                 Series 2001-1
           Certificate Payment Report for June 15, 2001 Distribution


Distribution in Dollars - Current Period
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                       Prior                                                                              Current
          Class        Original      Principal                                  Total        Realized       Deferred    Principal
 Class     Type       Face Value     Balance        Interest     Principal    Distribution   Losses         Interest      Balance
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>              <C>            <C>          <C>          <C>            <C>            <C>        <C>
                                       (1)             (2)          (3)       (4)=(2)+(3)       (5)             (6)    (7)=(1)-(3)-
                                                                                                                         (5)+(6)
------------------------------------------------------------------------------------------------------------------------------------

  A-1    FLT,STEP   196,178,000.00   192,953,392.98   721,525.09   4,831,035.31  5,552,560.40         -           -  188,122,357.67
  A-2    FLT,STEP   106,801,000.00   105,745,685,25   396,333.36     937,695.50  1,334,028.86         -           -  104,807,989,75
   R        R                    -                -            -              -             -         -           -               -
------------------------------------------------------------------------------------------------------------------------------------
 Total              302,979,000.00   298,699,078.23 1,117,858.45   5,768,730.81  6,886,589.26         -           -  292,930,347.42
------------------------------------------------------------------------------------------------------------------------------------


<CAPTION>
Interest Accrual Detail               Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
 <S>    <C>       <C>       <C>        <C>      <C>               <C>           <C>         <C>          <C>          <C>
                                                 Orig. Principal   Prior                                                Current
         Period    Period                        (with Notional   Principal                                 Total      Principal
 Class  Starting   Ending    Method     Cusip        Balance       Balance      Interest      Principal   Distribution   Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                    (1)          (2)         (3)         (4)=(2)+(3)        (5)
------------------------------------------------------------------------------------------------------------------------------------
  A-1   05/15/01  06/14/01  A-Act/360  395385AJ6  196,178,000.00  983.562851   3.677910      24.625775   28.303685     958.937076
  A-2   05/15/01  06/14/01  A-Act/360  395385AK3  106,801,000.00  990.118868   3.710952       8.779838   12.490790     981.339030
   R                                -                          -           -          -              -           -              -
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
Distribution in Dollars - to Date
------------------------------------------------------------------------------------------------------------------------------------
 <S>      <C>             <C>         <C>            <C>            <C>          <C>             <C>          <C>         <C>
                                                                                                                           Current
           Original                   Unscheduled    Scheduled        Total          Total       Realized     Deferred    Principal
 Class    Face Value      Interest     Principal     Principal      Principal    Distribution     Losses      Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
             (1)            (2)          (3)           (4)        (5)=(3)+(4)    (6)=(2)+(5)       (7)     (8)         (9)=(1)-(5)-
                                                                                                                          (7)+(8)
------------------------------------------------------------------------------------------------------------------------------------

  A-1   196,178,000.00  1,663,833.42    7,639,779.85   415,862.49   8,055,642.34  9,719,475.76          -        -    188,122,357.67
  A-2   106,801,000.00    910,313.17    1,759,817.77   233,192.48   1,993,010.25  2,903,323.42          -        -    104,807,989.75
   R                 -             -               -            -              -             -          -        -                 -
------------------------------------------------------------------------------------------------------------------------------------
 Total  302,979,000.00  2,574,146.59    9,399,597.62   649,054.97  10,048,652.59 12,622,799.18          -        -    292,930,347.42
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
Interest Detail
------------------------------------------------------------------------------------------------------------------------------------
          Pass-     Prior Principal                     Non-          Prior       Unscheduled                  Paid or    Current
         Through    (with Notional)     Accrued      Supported        Unpaid       Interest      Optimal      Deferred     Unpaid
 Class     Rate         Balance        Interest     Interest SF      Interest     Adjustments    Interest     Interest    Interest
------------------------------------------------------------------------------------------------------------------------------------
                                         (1)           (2)            (3)            (4)          (5)=(1)-      (6)      (7)=(5)-(6)
                                                                                                 (2)+(3)+(4
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>               <C>            <C>              <C>          <C>         <C>           <C>           <C>
  A-1     4.34250%  192,953,392.98      721,525.09              -              -           -     721,525.09    721,525.09          -
  A-2     4.35250%  105,745,685.25      396,333.36              -              -           -     396,333.36    396,333.36          -
   R                             -               -              -              -           -              -             -          -
------------------------------------------------------------------------------------------------------------------------------------
 Total              298,699,078.23    1,117,858.45              -              -           -   1,117,858.45  1,117,858.45          -
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
                           Collection Account Report
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                                                                POOL II          POOL I           TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>            <C>             <C>
    Net Principal Collections                                                       725,954.43    4,419,042.88     5,144,997.31

    TOTAL PRINCIPAL                                                                 725,954.43    4,419,042.88     5,144,997.31

    Interest Collections                                                            836,244.38    1,575,019.81     2,411,264.19
    Interest Fees                                                                   (16,605.89)     (29,832.85)      (46,438.74)

    TOTAL INTEREST                                                                  819,638.49    1,545,186.96     2,364,825.45

    TOTAL AVAILABLE FUNDS                                                         1,545,592.92    5,964,229.84     7,509,822.76
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
PRINCIPAL - COLLECTIONS                                                                POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>             <C>             <C>
    Principal Collections                                                         4,351,038.37    8,316,785.31    12,667,823.68
    Repurchases/Substitutions                                                             0.00            0.00             0.00
    Liquidations                                                                          0.00            0.00             0.00
    Insurance Principal                                                                   0.00            0.00             0.00
    Liquidation Loss Amounts                                                              0.00            0.00             0.00
    Additional Balances                                                          (3,625,083.94)  (3,898,542.43)   (7,523,626.37)

    TOTAL PRINCIPAL COLLECTED                                                       725,954.43    4,419,042.88     5,144,997.31
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
PRINCIPAL - WITHDRAWALS                                                                POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>              <C>               <C>
                                                  SPACE INTENTIONALLY LEFT BLANK

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

<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                                                             POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>              <C>                <C>
                                                  SPACE INTENTIONALLY LEFT BLANK

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

<CAPTION>
INTEREST - COLLECTIONS                                                                 POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>           <C>              <C>
    Interest Collections                                                            880,474.39    1,655,739.18     2,536,213.57
    Repurchases/Substitutions                                                             0.00            0.00             0.00
    Liquidations                                                                          0.00            0.00             0.00
    Insurance Interest                                                                    0.00            0.00             0.00
    Other Additional Interest                                                             0.00            0.00             0.00
    Current Servicing Fee                                                           (44,230.01)     (80,719.37)     (124,949.38)

    TOTAL INTEREST                                                                  836,244.38    1,575,019.81     2,411,264.19
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
INTEREST - WITHDRAWALS                                                          POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>              <C>               <C>
                                    SPACE INTENTIONALLY LEFT BLANK

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

INTEREST - OTHER ACCOUNTS                                                       POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------
                                    SPACE INTENTIONALLY LEFT BLANK

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

INTEREST - FEES                                                                 POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------

    Trustee Fee                                                                  707.68        1,291.51         1,999.19
    Certificate Insurer Premium                                               15,721.20       28,218.35        43,939.55
    Management Fee                                                               177.01          322.99           500.00

    TOTAL INTEREST  FEES                                                      16,605.89       29,832.85        46,438.74

-------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
                            Credit Enhancement Report
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
ACCOUNTS                                                                               POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>              <C>               <C>
    Beginning Reserve Fund Balance                                                                                 1,179,724.79
    Curr Period Amounts Dep to Res Fund                                                                              623,733.50
    Curr Withdrawal from Reserve Fund                                                                                      0.00
    Reserve Fund Balance                                                                                           1,803,458.29

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



INSURANCE                                                                              POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------------------

    Insured Amount                                                                        0.00            0.00             0.00
    Reimbursements to the Insurer                                                         0.00            0.00             0.00
    Cumulative Insurance Payment                                                          0.00            0.00             0.00

    Draws on the Policy                                                                   0.00            0.00             0.00
    Draws on the Demand Note                                                              0.00            0.00             0.00

    Interest portion of Guarantee Payment                                                 0.00            0.00             0.00
    Principal portion of Guarantee Payment                                                0.00            0.00             0.00
    Guarantee Payment for this date                                                       0.00            0.00             0.00
    Cumulative Guaranty Payments                                                          0.00            0.00             0.00

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



STRUCTURAL FEATURES                                                                    POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------------------

    Three Month Average Net Excess Spread Amount                                        0.0000%         0.0000%
    Rolling Six-month Pool Delinquency Rate                                             0.0000%         0.0000%

    Prior Overcollateralization Amount                                              406,328.04      773,906.74     1,180,234.78
    Specified Overcollateralization Amount                                        3,866,074.60    4,028,876.52     7,894,951.12
    Overcollateralization Amount                                                    406,328.04      773,906.74     1,180,234.78
    Overcollateralization Deficiency Amount                                       3,459,746.56    3,254,969.78     6,714,716.34

    Overcollateralization Deficit                                                         0.00            0.00             0.00
    Overcollateralization Reduction Amount                                                0.00            0.00             0.00
    Step-Up Overcollateralization Amount                                          3,866,074.60    4,028,876.52     7,894,951.12

    Current Accelerated Principal Payment                                           211,741.07      411,992.43       623,733.50
    Cumulative Accelerated Principal Payment                                        617,886.71    1,185,571.58     1,803,458.29
</TABLE>
--------------------------------------------------------------------------------
<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
                                                         Collateral Report
------------------------------------------------------------------------------------------------------------------------------


    COLLATERAL                                                                  POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                    <C>             <C>              <C>
      Loan Count:
    Original                                                                     1191            4428             5619
    Prior                                                                       1,132           4,267            5,399
    Prefunding                                                                      -               -                -
    Scheduled Paid Offs                                                             -               -                -
    Full Voluntary Prepayments                                                    (35)           (113)            (148)
    Repurchases                                                                     -               -                -
    Liquidations                                                                    -               -                -
    --------------------------------------------------------------------------------------------------------------------------
    Current                                                                     1,097           4,154            5,251

    Principal Balance:
    Original                                                           106,801,182.40  196,178,327.60   302,979,510.00
    Prior                                                              106,152,013.29  193,727,299.72   299,879,313.01
    Prefunding                                                           3,625,083.94    3,897,742.43     7,522,826.37
    Scheduled Principal                                                   (171,032.10)    (322,156.34)     (493,188.44)
    Partial and Full Voluntary Prepayments                              (4,180,006.27)  (7,994,628.97)  (12,174,635.24)
    Repurchases                                                                     -               -                -
------------------------------------------------------------------------------------------------------------------------------
    Liquidations                                                                    -               -                -
    Current                                                            105,426,058.86  189,308,256.84   294,734,315.70
------------------------------------------------------------------------------------------------------------------------------
<CAPTION>

PREFUNDING                                                                      POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>              <C>               <C>
                                                  SPACE INTENTIONALLY LEFT BLANK

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

<CAPTION>

CHARACTERISTICS                                                                 POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>             <C>              <C>
    Weighted Average Coupon Original                                         9.879188%      10.019075%        9.969764%
    Weighted Average Coupon Prior                                            9.879188%      10.019075%        9.969764%
    Weighted Average Coupon Current                                         10.479307%      10.572115%       10.539263%
------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                                  189             195              193
    Weighted Average Months to Maturity Prior                                     189             195              193
    Weighted Average Months to Maturity Current                                   188             194              192
------------------------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                             196             213              207
    Weighted Avg Remaining Amortization Term Prior                                196             213              207
    Weighted Avg Remaining Amortization Term Current                              194             211              205
------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                          2.92            3.09             3.03
    Weighted Average Seasoning Prior                                             2.92            3.09             3.03
    Weighted Average Seasoning Current                                           3.93            4.07             4.02
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note:  Original information refers to deal issue.
<PAGE>

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                                      POOL II          POOL I           TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>             <C>             <C>
    Weighted Average Margin Original                                                     293.006%        228.112%
    Weighted Average Margin Prior                                                        293.006%        228.112%
    Weighted Average Margin Current                                                      292.855%        228.156%
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                                                    17.033%         14.638%
    Weighted Average Max Rate Prior                                                       17.033%         14.638%
    Weighted Average Max Rate Current                                                     17.056%         14.796%
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                                                     2.930%          2.281%
    Weighted Average Min Rate Prior                                                        2.930%          2.281%
    Weighted Average Min Rate Current                                                      2.929%          2.282%
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Up Original
    Weighted Average Cap Up Prior
    Weighted Average Cap Up Current
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Down Original
    Weighted Average Cap Down Prior
    Weighted Average Cap Down Current

----------------------------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

<CAPTION>
SERVICING FEES / ADVANCES                                                                POOL II          POOL I           TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>             <C>             <C>
    TOTAL SERVICING FEE                                                                44,230.01       80,719.37       124,949.38

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

<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                                        POOL II          POOL I           TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                      <C>              <C>              <C>
                                                  SPACE INTENTIONALLY LEFT BLANK

----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
                          Delinquency Report - Total
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                            CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
--------------------------------------------------------------------------------------------------------------------------
<S>                                      <C>            <C>             <C>            <C>            <C>
DELINQUENT   Balance                                      2,365,088.62     714,250.71     28,000.00     3,107,339.33
             % Balance                                            0.80%          0.24%         0.01%            1.05%
             # Loans                                                34             17             1               52
             % # Loans                                            0.65%          0.32%         0.02%            0.99%
--------------------------------------------------------------------------------------------------------------------------
FORECLOSURE  Balance                              -                  -              -  1,015,478.80     1,015,478.80
             % Balance                         0.00%              0.00%          0.00%         0.34%            0.34%
             # Loans                              -                  -              -             5                5
             % # Loans                         0.00%              0.00%          0.00%         0.10%            0.10%
--------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY   Balance                     128,533.85                  -              -    140,633.34       269,167.19
             % Balance                         0.04%              0.00%          0.00%         0.05%            0.09%
             # Loans                              4                  -              -             1                5
             % # Loans                         0.08%              0.00%          0.00%         0.02%            0.10%
--------------------------------------------------------------------------------------------------------------------------
REO          Balance                              -                  -              -             -                -
             % Balance                         0.00%              0.00%          0.00%         0.00%            0.00%
             # Loans                              -                  -              -             -                -
             % # Loans                         0.00%              0.00%          0.00%         0.00%            0.00%
--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------
TOTAL        Balance                     128,533.85       2,365,088.62     714,250.71  1,184,112.14     4,391,985.32
             % Balance                         0.04%              0.80%          0.24%         0.40%            1.49%
             # Loans                              4                 34             17             7               62
             % # Loans                         0.08%              0.65%          0.32%         0.13%            1.18%
--------------------------------------------------------------------------------------------------------------------------
</TABLE>


Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
Payments = 90+


--------------------------------------------------------------------------------
                       Delinquency Report - Pool I Group
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                        CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS           TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                  <C>         <C>              <C>             <C>             <C>
DELINQUENT           Balance                                       1,272,014.94      575,250.71       28,000.00     1,875,265.65
                     % Balance                                             0.67%           0.30%           0.01%            0.99%
                     # Loans                                                 27              14               1               42
                     % # Loans                                             0.65%           0.34%           0.02%            1.01%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                  -               -               -      228,200.00       228,200.00
                     % Balance                             0.00%           0.00%           0.00%           0.12%            0.12%
                     # Loans                                  -               -               -               3                3
                     % # Loans                             0.00%           0.00%           0.00%           0.07%            0.07%
-----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                         128,533.85               -               -               -       128,533.85
                     % Balance                             0.07%           0.00%           0.00%           0.00%            0.07%
                     # Loans                                  4               -               -               -                4
                     % # Loans                             0.10%           0.00%           0.00%           0.00%            0.10%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                  -               -               -               -                -
                     % Balance                             0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                  -               -               -               -                -
                     % # Loans                             0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                         128,533.85    1,272,014.94      575,250.71      256,200.00     2,231,999.50
                     % Balance                             0.07%           0.67%           0.30%           0.14%            1.18%
                     # Loans                                  4              27              14               4               49
                     % # Loans                             0.10%           0.65%           0.34%           0.10%            1.18%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
Payments = 90+
<PAGE>

--------------------------------------------------------------------------------
                      Delinquency Report - Pool II Group
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                      CURRENT          1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                               <C>              <C>               <C>           <C>             <C>
DELINQUENT           Balance                                           1,093,073.68    139,000.00              -     1,232,073.68
                     % Balance                                                 1.04%         0.13%          0.00%            1.17%
                     # Loans                                                      7             3              -               10
                     % # Loans                                                 0.64%         0.27%          0.00%            0.91%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                -                     -             -     787,278.80       787,278.80
                     % Balance                           0.00%                 0.00%         0.00%          0.75%            0.75%
                     # Loans                                -                     -             -              2                2
                     % # Loans                           0.00%                 0.00%         0.00%          0.18%            0.18%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                -                     -             -     140,633.34       140,633.34
                     % Balance                           0.00%                 0.00%         0.00%          0.13%            0.13%
                     # Loans                                -                     -             -              1                1
                     % # Loans                           0.00%                 0.00%         0.00%          0.09%            0.09%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                -                     -             -              -                -
                     % Balance                           0.00%                 0.00%         0.00%          0.00%            0.00%
                     # Loans                                -                     -             -              -                -
                     % # Loans                           0.00%                 0.00%         0.00%          0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                                -          1,093,073.68    139,000.00     927,912.14     2,159,985.82
                     % Balance                           0.00%                 1.04%         0.13%          0.88%            2.05%
                     # Loans                                -                     7             3              3               13
                     % # Loans                           0.00%                 0.64%         0.27%          0.27%            1.19%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
Payments = 90+
<PAGE>

--------------------------------------------------------------------------------
    REO Report - Mortgage Loans that Become REO During Current Distribution
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                               LOAN GROUP
-----------------------------------------------------------------------------------------------------------------
<S>                                                   <C>
Total Loan Count = 0                                  Loan Group 1 = Pool I Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00             Loan Group 2 = Pool II Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

-----------------------------------------------------------------------------------------------------------------
</TABLE>

REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
   Loan Number      Original     Stated                  Current     State &
        &          Principal    Principal    Paid to       Note       LTV at       Original    Origination
    Loan Group      Balance      Balance      Date         Rate     Origination      Term          Date
-----------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>        <C>            <C>         <C>
                                           SPACE INTENTIONALLY LEFT BLANK


-----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
                   Prepayment Report - Voluntary Prepayments
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                             POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>             <C>              <C>
    Current
    Number of Paid in Full Loans                                                       35             113              148
    Number of Repurchased Loans                                                         -               -                -
    ----------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                              35             113              148

    Paid in Full Balance                                                     2,772,455.59    6,022,826.79     8,795,282.38
    Repurchased Loans Balance                                                           -               -                -
    Curtailments Amount                                                      1,407,550.68    1,971,802.18     3,379,352.86
    ----------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                  4,180,006.27    7,994,628.97    12,174,635.24

    Cumulative
    Number of Paid in Full Loans                                                       94             274              368
    Number of Repurchased Loans                                                         -               -                -
    ----------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                              94             274              368

    Paid in Full Balance                                                     8,237,022.69   14,159,990.68    22,397,013.37
    Repurchased Loans Balance                                                           -               -                -
    Curtailments Amount                                                      6,073,337.91    8,039,070.38    14,112,408.29
    ----------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                 14,310,360.60   22,199,061.06    36,509,421.66

                                           SPACE INTENTIONALLY LEFT BLANK


--------------------------------------------------------------------------------------------------------------------------
<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                        POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>             <C>              <C>
    SMM                                                                             3.94%           4.13%            4.07%
    3 Months Avg SMM
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                           6.76%           5.70%            6.07%

    CPR                                                                            38.30%          39.74%           39.24%
    3 Months Avg CPR
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                          56.82%          50.56%           52.84%

    PSA                                                                          4868.73%        4877.57%         4875.59%
    3 Months Avg  PSA Approximation
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                          8287.95%        7057.57%         7490.90%

---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

PREPAYMENT CALCULATION METHODOLOGY

<TABLE>
    <S>                              <C>
------------------------------------------------------------------------------------------------------------------------------------
    Single Monthly Mortality (SMM):  (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched
    Principal)

    Conditional Prepayment Rate (CPR): 1-((1-SMM)[]12)

    PSA Standard Prepayment Model:  CPR/(0.02*min(30,WAS))

    Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)][](1/months in
    period n,m)

    Average CPR over period between the nth month and mth month    (AvgCPRn,m):  1-((1-AvgSMMn,m)[]12)

    Average PSA Approximation over period between the nth month and mth month:  AvgCPRn,m/(0.02*Avg WASn,m))

    Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)

    Weighted Average Seasoning (WAS)

    Note:  Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
           Dates correspond to distribution dates.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

--------------------------------------------------------------------------------
                       Realized Loss Report - Collateral
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>


COLLATERAL REALIZED LOSSES                                                                   POOL II          POOL I         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
    <S>                                                                                      <C>              <C>           <C>
    Current
    Number of Loans Liquidated                                                                      -             -              -
    Collateral Realized Loss/(Gain) Amount                                                          -             -              -
    Net Liquidation Proceeds                                                                        -             -              -

    Cumulative
    Number of Loans Liquidated                                                                      -             -              -
    Collateral Realized Loss/(Gain) Amount                                                          -             -              -
    Net Liquidation Proceeds                                                                        -             -              -

    Note: Collateral realized losses may include adjustments to loans liquidated in
          prior periods.

    Cumulative Losses as % of Original Balance                                                 0.0000%       0.0000%        0.0000%

    Cumulative Losses as % of Current Balance                                                  0.0000%       0.0000%        0.0000%

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
DEFAULT SPEEDS                                                                               POOL II          POOL I         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
    <S>                                                                                      <C>            <C>             <C>
    MDR                                                                                          0.00%         0.00%          0.00%
    3 Months Avg MDR
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                                        0.00%         0.00%          0.00%

    CDR                                                                                          0.00%         0.00%          0.00%
    3 Months Avg CDR
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                                        0.00%         0.00%          0.00%

    SDA                                                                                          0.00%         0.00%          0.00%
    3 Months Avg  SDA Approximation
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                                          0.00%         0.00%          0.00%

    Loss Severity Approximation for Current Period
    3 Months Avg Loss Severity Approximation
    12 Months Avg Loss Severity Approximation
    Avg  Loss Severity Approximation Since Cut-off

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

COLLATERAL REALIZED LOSS  CALCULATION METHODOLOGY

<TABLE>
    <S>                            <C>
-----------------------------------------------------------------------------------------------------------------------------------
    Monthly Default Rate (MDR):    (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)

    Conditional Default Rate (CDR):  1-((1-MDR)[]12)

    SDA Standard Default Assumption:    CDR/IF(WAS**61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))

    Average MDR over period between nth month and mth month (AvgMDRn,m):    [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)][](1/months in
    period n,m)

    Average CDR over period between the nth month and mth month (AvgCDRn,m):    1-((1-AvgMDRn,m)[]12)

    Average SDA Approximation over period between the nth month and mth month:

    AvgCDRn,m/IF(Avg WASn,m**61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

    Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)

    Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

    Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

    Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains
          from prior periods.

          Dates correspond to distribution dates.

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

** [less than]
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                  Realized Loss Detail Report - Loans Liquidated During Current Distribution
----------------------------------------------------------------------------------------------------------------------------------


SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                ---------------------------------------------------------
<S>                                                                      <C>
Total Loan Count                      =     0                            Loan Group 1    =    Pool I Group
Total Original Principal Balance      =  0.00                            Loan Group 2    =    Pool II Group
Total Prior Principal Balance         =  0.00
Total Realized Loss Amount            =  0.00
Total Net Liquidation Proceeds        =  0.00
---------------------------------------------------------                ---------------------------------------------------------


----------------------------------------------------------------------------------------------------------------------------------
   Loan Number               Original         Prior                         Current       State &
        &           Loan     Principal      Principal        Realized        Note          LTV at         Original     Origination
   Loan Group     Status     Balance        Balance        Loss/(Gain)       Rate       Origination         Term          Date
----------------------------------------------------------------------------------------------------------------------------------
                                                  SPACE INTENTIONALLY LEFT BLANK



-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                        Triggers, Adj. Rate Cert. and Miscellaneous Report
----------------------------------------------------------------------------------------------------------------------------------


TRIGGER EVENTS                                                                    POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>              <C>               <C>
    Servicer Event of Default                                                        No              No               No

    Insurer Default                                                                  No              No               No

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


ADJUSTABLE RATE CERTIFICATE INFORMATION                                            POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
                                                          SPACE INTENTIONALLY LEFT BLANK



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


ADDITIONAL INFORMATION                                                                 POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------

    Detail Delinq. Breakdown to Supplement pages 11-13
    Number of Mort. Loans Delinq. 90 -119 days                                                 -               1                1
    Balance of Mort. Loans Delinq. 90 -119 days                                             0.00       28,000.00        28,000.00
    Number of Mort. Loans Delinq. 120 -149 days                                                -               -                -
    Balance of Mort. Loans Delinq. 120 -149 days                                            0.00            0.00             0.00
    Number of Mort. Loans Delinq. 150 -179 days                                                -               -                -
    Balance of Mort. Loans Delinq. 150 -179 days                                            0.00            0.00             0.00
    Number of Mort. Loans Delinq. 180 days or more                                             -               -                -
    Balance of Mort. Loans Delinq. 180 days or more                                         0.00            0.00             0.00
    Count of ALL Loans 180 day plus bucket                                                     -               -                -
    Balance of ALL Loans 180 day plus bucket                                                0.00            0.00             0.00
    Management Fee Accrued and Unpaid                                                     354.02          645.98         1,000.00

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>