Exhibit 99.1

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                                                    PricewaterhouseCoopers LLP
                                                    1177 Avenue of the Americas
                                                    New York NY 10036
                                                    Telephone (646) 471 4000
                                                    Facsimile (646) 471 41000

                        Report of Independent Accountants




To the Board of Directors and Shareholders
of Equity One, Inc.

We  have  examined  management's  assertion  about  Equity  One,  Inc.  and  its
subsidiaries'  (the "Company")  compliance with the minimum servicing  standards
identified  in the Mortgage  Bankers  Association  of America's  Uniform  Single
Attestation  Program for Mortgage  Bankers ("USAP") as of and for the year ended
November 30, 2001 included in the accompanying management assertion (see Exhibit
1).  Management is responsible  for the Company's  compliance with those minimum
servicing standards. Our responsibility is to express an opinion on management's
assertion about the Company's compliance based on our examination.

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

In our  opinion,  management's  assertion  that the  Company  complied  with the
aforementioned minimum servicing standards as of and for the year ended November
30, 2001 is fairly stated, in all material respects.


/s/ PricewaterhouseCoopers LLP
January 31, 2002

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400 Lippincott Drive                                    Telephone (856) 396-3684
Marlton, NJ 08053                                             Fax (856) 396-2713

                                                                       Exhibit 1

                  Management's Assertion Concerning Compliance
                      with USAP Minimum Servicing Standards


January 31, 2002


As of and for the year  ended  November  30,  2001,  Equity  One,  Inc.  and its
subsidiaries  (the  "Company"),  a wholly  owned  subsidiary  of  Popular  North
America,  Inc. (the "Parent"),  have complied in all material  respects with the
minimum  servicing  standards set forth in the Mortgage  Bankers  Association of
America's  Uniform  Single  Attestation  Program for Mortgage  Bankers  ("USAP")
solely for the purpose of servicing the  residential  mortgage loans  underlying
the Loan Assets Backed  Certificates  Series  1997-1,  1998-1,  1999-1,  2000-1,
2001-1, 2001-2, 2001-3 (the "Agreement") except as noted as follows:

Instances of non-compliance  with Section V.3 of the Uniform Single  Attestation
Program  requiring  that escrow  accounts be analyzed,  in  accordance  with the
mortgagor's  loan documents,  on at least an annual basis occurred during fiscal
2001. Management is currently implementing  procedures to avoid further problems
regarding the timeliness of escrow analysis.

As of and for this same  period,  the  Company had in effect  fidelity  bond and
errors and  omissions  policies  through  its  Parent  company  with  individual
coverage for each and every loss in the amounts of  $2,300,000  and  $1,000,000,
respectively.



/s/ James H. Jenkins                                  2-28-02
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James H. Jenkins                                      Date
Senior Vice President
Chief Financial Officer