<PAGE>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

[X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
       EXCHANGE ACT OF 1934

For the fiscal year ended:  December 31, 2001

                                       OR

[ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF
      1934

For the transition period from __________ to _________.

Commission File Number:  333-62698

GREENPOINT MORTGAGE SECURITIES INC. (as Sponsor of the GreenPoint Home Equity
Loan Trust, Series 2001-2, Class A-1, Class A-3 and Class A-3 Variable Rate
Asset-Backed Notes)

                       GREENPOINT MORTGAGE SECURITIES INC.
             (Exact Name of registrant as specified in its charter)

                   Delaware                                 68-0397342
    (State or other jurisdiction of incorporation or     (I.R.S. employer
     organization)                                       identification no.)

            700 Larkspur Landing Circle, Suite 240             94939
                         Larkspur, CA                        (Zip code)
           (Address of principal executive offices)

                                 (415) 461-6790
              (Registrant's telephone number, including area code)

Securities registered pursuant to Section     Securities registered pursuant to
12(b) of the Act:                             Section 12(g) of the Act:

          None                                           None
    (Title of class)                                (Title of class)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [ X ] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ X ]

State the aggregate market value of the voting stock held by non-affiliates of
Registrant. The aggregate market value shall be computed by reference to the
price at which the stock was sold, or the average bid and asked prices of such
stock, as of specified date within 60 days prior to the date of filing:

                                 Not Applicable

                      Documents incorporated by reference:

                                 Not Applicable

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                      GREENPOINT MORTGAGE SECURIITIES INC.
                 VARIABLE RATE ASSET-BACKED NOTES, SERIES 2001-2

                                      INDEX

                                                                            Page
                                                                            ----

PART I     .................................................................   3
           ITEM 1     -   BUSINESS .........................................   3
           ITEM 2     -   PROPERTIES .......................................   3
           ITEM 3     -   LEGAL PROCEEDINGS ................................   3
           ITEM 4     -   SUBMISSION OF MATTERS TO A VOTE OF SECURITY
                          HOLDERS ..........................................   3

PART II    .................................................................   3
           ITEM 5     -   MARKET FOR REGISTRANT'S COMMON STOCK AND
                          RELATED STOCKHOLDER MATTERS ......................   3
           ITEM 6     -   SELECTED FINANCIAL DATA ..........................   3
           ITEM 7     -   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                          FINANCIAL CONDITION AND RESULTS OF OPERATIONS ....   3
           ITEM 8     -   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ......   3
           ITEM 9     -   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
                          ON ACCOUNTING AND FINANCIAL DISCLOSURE ...........   4


PART III   .................................................................   4
           ITEM 10    -   DIRECTORS AND EXECUTIVE OFFICERS OF THE
                          REGISTRANT .......................................   4
           ITEM 11    -   EXECUTIVE COMPENSATION ...........................   4
           ITEM 12    -   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
                          AND MANAGEMENT ...................................   4
           ITEM 13    -   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS ...   4

PART IV    .................................................................   5
           ITEM 14    -   EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND
                           REPORTS ON FORM 8-K .............................   5

SIGNATURES .................................................................   6
INDEX TO EXHIBITS ..........................................................   7

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                                     PART I

ITEM 1     -   BUSINESS

               Not Applicable.

ITEM 2     -   PROPERTIES

               GreenPoint Mortgage Securities Inc. (the "Sponsor") will furnish
information regarding the Mortgaged Properties by reference to the Annual
Compliance Certificates to be filed herein under Item 14.

ITEM 3     -   LEGAL PROCEEDINGS

               The Sponsor is not aware of any material pending legal
proceedings involving either the Variable Rate Asset-Backed Notes, Series
2001-2, the GreenPoint Home Equity Loan Trust 2001-2 (the "Trust); the Sale and
Servicing Agreement; the Indenture; the Indenture Trustee; the Sponsor; or the
Servicer which relates to the Trust.

ITEM 4     -   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

               No matter has been submitted to a vote of the holders of
beneficial interests in the Trust through the solicitation of proxies or
otherwise.

                                     PART II

ITEM 5     -   MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER
MATTERS

               To the best knowledge of the Sponsor, there is no established
public trading market for the Notes.

               The Notes issued by the Trust are held by the Depository Trust
Company ("DTC") which in turn maintains records of holders of beneficial
interests in the Notes. Based on information obtained by the Trust from DTC, as
of December 31, 2001, there were one (1) holder of the Class A-1 Note, one (1)
holder of the Class A-2 Note, and four (4) holders of the Class A-3 Notes.

ITEM 6     -   SELECTED FINANCIAL DATA

               Not Applicable.

ITEM 7     -   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

               Not Applicable.

ITEM 8     -   FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

               Not Applicable.

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ITEM 9     -   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

               There were no changes of accountants or disagreements on
accounting or financial disclosures between the Sponsor and its accountants.

                                    PART III

ITEM 10    -   DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

               Not Applicable.


ITEM 11    -   EXECUTIVE COMPENSATION

               Not Applicable.


ITEM 12    -   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

           The Sponsor is a wholly-owned, limited purpose Delaware corporation
and subsidiary of GreenPoint Mortgage Funding, Inc., a New York corporation. The
Trust is a Delaware statutory business trust wholly-owned by the Sponsor.

ITEM 13    -   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

               None.

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                                     PART IV

ITEM 14  -  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

            (a)   The following documents are filed as part of this report:

                  1.    Financial Statements:

                        Not applicable.

                  2.    Financial Statement Schedules:

                        Not applicable.

                  3.    Exhibits:

                        Exhibit No.    Description
                        ----------     -----------

                         99.1          Statement of Compliance  of the Servicer
                                       pursuant to Section 3.09 of the Sale and
                                       Servicing Agreement.

                         99.2          Annual Servicing Report with respect to
                                       the Servicer's overall servicing
                                       operations pursuant to Section 3.10 of
                                       the Sale and Servicing Agreement.

                         99.3          Statement of Compliance of the Issuer
                                       pursuant to Section 3.9 of the Indenture.

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                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Sponsor has duly caused this Report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                             By:   GREENPOINT MORTGAGE
                                   SECURITIES INC.,
                                   As Sponsor

                                   By:    /s/ S.A. Ibrahim
                                       ----------------------------------------
                                   Name:  S.A. Ibrahim
                                   Title: President

Date:    March 29, 2002.

         Pursuant to the requirements of the Securities Exchange Act of 1934,
this Report has been signed below by the following persons on behalf of the
Sponsor and in the capacities and on the dates indicated:

<TABLE>
<CAPTION>
Signature                            Position                            Date
---------                            --------                            ----
<S>                         <C>                                       <C>
/s/ S.A. Ibrahim             President and Director                    March 29, 2002
------------------------     (Principal Executive Officer)
S.A. Ibrahim

/s/ Becky S. Poisson         Vice President and Director               March 29, 2002
------------------------
Becky S. Poisson

/s/ Robert C. Bernstein      Vice President, Secretary,                March 29, 2002
------------------------     Treasurer and Director
Robert C. Bernstein

/s/ Phillip R. Pollock       Assistant Secretary                       March 29, 2002
------------------------
Phillip R. Pollock

/s/ Steven M. Abreu          Vice President and Director               March 29, 2002
------------------------
Steven M. Abreu

/s/ Kenneth Siprelle         Director                                  March 29, 2002
------------------------
Kenneth Siprelle

/s/ John Edmonds             Director                                  March 29, 2002
------------------------
John Edmonds
</TABLE>




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                                INDEX TO EXHIBITS
                                   Item 14(C)

Exhibit No.     Description
-----------     -----------
99.1            Statement of Compliance of the Servicer pursuant to Section 3.09
                of the Sale and Servicing Agreement.

99.2            Annual Servicing Report with respect to the Servicer's overall
                servicing  operations  pursuant to Section 3.10 of the Sale and
                Servicing Agreement.

99.3            Statement of Compliance of the Issuer pursuant to Section 3.9 of
                the Indenture.