CONFORMED WITH EXHIBITS

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

(MARK ONE)
  X    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES  EXCHANGE
-----  ACT OF 1934 (FEE REQUIRED)
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000
                                    OR
       TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR (15D) OF THE  SECURITIES
-----  EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
FOR THE TRANSITION PERIOD FROM _____ TO ________________________

                     COMMISSION FILE NUMBER 333-46102

  GREENPOINT CREDIT, LLC, AS SERVICER AND SELLER OF CERTAIN MANUFACTURED
    HOUSING CONTRACTS CONVEYED TO A CERTAIN TRUST WHICH TRUST ISSUED:

           GREENPOINT CREDIT MANUFACTURED HOUSING CONTRACT TRUST PASS-
                 THROUGH CERTIFICATES, SERIES 2000-1 (TOGETHER,
                           THE "OFFERED CERTIFICATES")

--------------------------------------------------------------------------------
           (exact name of registrant as specified in charter)
                          GREENPOINT CREDIT, LLC

           DELAWARE                                     13-4002891
(state or other jurisdiction                         (I.R.S. employer
    of incorporation)                             identification number)

                         10089 Willow Creek Road
                       San Diego, California 92131
                              (858) 530-9394
 (address and telephone number of registrant's principal executive offices)


SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:

       TITLE OF EACH CLASS             NAME OF EACH EXCHANGE ON WHICH REGISTERED

             NONE                                       NONE

INDICATE BY CHECK MARK WHETHER THE REGISTRANT 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 ___1

1 On February 27, 1992, the Securities and Exchange Commission granted the
Registrant a "no action" and exemptive order request to modify the information
required to be reported by the trust under Section 13 and 15(d) of the
Securities Exchange Act of 1934


<PAGE>

AGGREGATE MARKET VALUE OF VOTING STOCK HELD BY NON-AFFILIATES OF THE REGISTRANT:
NOT APPLICABLE.

DOCUMENTS INCORPORATED BY REFERENCE: NONE

NUMBER OF SHARES OF REGISTRANT'S COMMON STOCK OUTSTANDING AS OF DECEMBER 31,
2000: NOT APPLICABLE.

ITEM 1.   BUSINESS

          GreenPoint  Credit,  LLC,  (the  "Registrant")  is filing  this Annual
Report on Form 10-K in its  capacity as Seller of certain  manufactured  housing
contracts (the "Contracts") conveyed to a trust (the "Trust").  The Trust issued
the  GreenPoint  Credit   Manufactured   Housing  Contract  Trust   Pass-Through
Certificates,  Series  2000-1  (the  "Certificates")  pursuant  to a pooling and
servicing  agreement,  dated as of March 1, 2000 (the "Agreement"),  between the
Registrant,  as Seller  and  Servicer  and Bank One,  National  Association,  as
Trustee  (the  "Trustee").   The  Certificates   evidence  undivided  beneficial
interests in the Trust.

          In filing this Annual Report on Form 10-K,  the  Registrant is using a
reduced  disclosure  format pursuant to a "no action" letter and exemptive order
granted to its predecessor in interest,  Security Pacific  Acceptance  Corp., by
the Securities and Exchange Commission on February 27, 1992 (the "Order").

ITEM 2.   PROPERTIES

          Pursuant  to the terms of the Order,  reference  is hereby made to the
Annual  Statement as to Compliance  delivered to the Trustee with respect to the
Trust (the "Annual  Statement as to Compliance"),  filed as Exhibit 99.1 to this
Annual Report on Form 10-K.

ITEM 3.   LEGAL PROCEEDINGS

          The  Registrant was a party to no material  pending legal  proceedings
during the period  covered by this Annual  Report and during such period knew of
no  other  material   pending  legal   proceedings   involving  the  Trust,  the
manufactured housing contracts contained in such Trust (the "Contract Pool"), or
with respect to the Contract Pool, the Trustee,  any custodian's or the Servicer
other  than  ordinary  routine  litigation  incidental  to  the  Trustee's,  any
custodian's or the Servicer's duties under the Agreement.

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

          The  Registrant  knows  of no  vote  or  consent  of  holders  of  any
Certificate  that was solicited for any purpose during the calendar year covered
by this Annual Report on Form 10-K.

                                     PART II

ITEM 5.   MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

          (a) There is no  established  public  trading  market for the  offered
Certificates.

          (b) As of December 31, 2000,  the total number of holders of record of
each class of Offered  Certificates were as follows: (i) Class A-1 Certificates,
2; Class A-2 Certificates, 8; Class A-3 Certificates, 3; Class A-4 Certificates,
3; Class A-5 Certificates, 2; Class M-1 Certificates, 3; Class M-2 Certificates,
4; Class B-1 Certificates, 3; and Class B-2 Certificates, 3.


                                       2
<PAGE>


ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

          The Annual  Statement as to  Compliance  with respect to the Trust for
the period  covered by this Annual Report appears as Exhibit 99.1 to this Annual
Report on Form 10-K.

          The Annual Report on the Servicer's servicing activities for the Trust
for the period covered by this Annual Report is included as Exhibit 99.2 to this
Annual Report on Form 10-K.

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

          Not Applicable.

                                PART IV

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

          No transaction  between the Trust and the holders of the  Certificates
occurred  during the period  covered by this Annual Report on Form 10-K,  except
routine  distributions  to  such  certificate  holders  as  contemplated  by the
agreement.

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

          Pursuant to the Order,  the Registrant  includes as an exhibit to this
Annual Report on Form 10-K the Annual Statement as to Compliance with respect to
the Trust for the year ended  December 31, 2000  delivered by the Servicer under
the Agreement and the annual report on the Servicer's  servicing  activities for
the Trust.

       Exhibit No.

       99.1   Annual Statement as to Compliance for the Trust for the year ended
              December 31, 2000.

       99.2   Annual  Servicing Report for the Trust for the year ended December
              31, 2000.

       99.3   Aggregate Payment Amounts for Calendar year 2000.


                                       3
<PAGE>

                                POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS,  that each person whose  signature  appears
below   constitutes   and   appoints   Charles  O.  Ryan  his  true  and  lawful
attorney-in-fact  and agent, with full power of substitution and resubstitution,
for him and his name, place and stead, in any and all capacities, to sign any or
all periodic reports (including any Form 8-Ks, Form 10-Qs or Form 10-Ks), and to
file the same,  with all exhibits  thereto,  and other  documents in  connection
therewith,  with the  Securities  and Exchange  Commission,  granting  unto said
attorney-in-fact  and agent full power and  authority to do and perform each and
every  act and  thing  requisite  and  necessary  to be done  in and  about  the
premises,  as  fully  to all  intents  and  purposes  as he might or could do in
person,  hereby  ratifying and  confirming  all that said  attorney-in-fact  and
agent, or his substitutes, may lawfully do or cause to be done by virtue hereof.

                                   SIGNATURES

     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
registrant and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
     SIGNATURES                                          TITLE                         DATE
<S>  <C>                                  <C>                                      <C>
           /s/ Peter Paul                 President and CEO (Principal              March 30, 2001
     --------------------------------     Executive Officer) and Manager
           Peter Paul

           /s/ John S. Buchanan           Senior Vice President,                    March 30, 2001
     --------------------------------     Treasurer (Principal Financial and
           John S. Buchanan               Accounting Officer) and Manager


           /s/ Abdul H. Rajput            Executive Vice President                  March 30, 2001
     --------------------------------     and Manager
           Abdul H. Rajput

           /s/ Charles P. Richardson      Executive Vice President                  March 30, 2001
     --------------------------------     and Manager
           Charles P. Richardson
</TABLE>

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


GREENPOINT CREDIT, LLC


By:           /s/ Peter Paul
     --------------------------------
     Peter Paul
     President, CEO and Manager


                                      4
<PAGE>

EXHIBIT INDEX

                                                                   Sequentially
  Exhibit No.   Description                                       Numbered Page



  99.1          Annual Statement as to Compliance for the
                Trust for the year ended December 31, 2000               6

  99.2          Annual Servicing Report for the Trust
                for the year ended December 31, 2000                     7

  99.3          Aggregate Payment Amounts for
                Calendar year 2000                                       9


                                       5
<PAGE>

                                  EXHIBIT 99.1


                        ANNUAL STATEMENT AS TO COMPLIANCE


The undersigned  certifies that she is an Assistant Vice President of GreenPoint
Credit,  LLC (the  "Servicer")  and that,  as such,  she is duly  authorized  to
execute and  deliver  this  certificate  on behalf of the  Servicer  pursuant to
Section 4.20 of the Pooling and Servicing Agreement (the "Agreement"),  dated as
of March 1, 2000 between  GreenPoint Credit , as Seller,  GreenPoint  Credit, as
Servicer,  and Bank One, as Trustee , (all capitalized terms used herein without
definition  having the  respective  meanings  specified  in the  Agreement)  and
further certifies that:

1.   I have reviewed the activities for the one year period ending  December 31,
     2000 and  performance  under  this  agreement  has  been  made  under  such
     officer's supervision under Section 4.20 of the Agreement; and

2.   To the  best of my  knowledge,  based  on such  review,  the  Servicer  has
     fulfilled all its obligations under this Agreement throughout such period.


IN WITNESS WHEREOF, I have affixed hereunto my signature this 30th day of March,
2000.




                                    GREENPOINT CREDIT, LLC

                                    By   /s/ Mary Churley
                                      ---------------------------------
                                    Mary Churley
                                    Assistant Vice President and Manager
                                    Investor Servicing


                                       6
<PAGE>


                                  EXHIBIT 99.2

January 16, 2001

PricewaterhouseCoopers LLP
400 S. Hope Street
Los Angeles, CA 90071


Ladies and Gentlemen:

As of and for the year  ended  December  31,  2000,  GreenPoint  Credit  LLC has
complied in all material respects with the minimum servicing standards set forth
in the Mortgage  Bankers  Association of America's  Uniform  Single  Attestation
Program for Mortgage Bankers. As of and for this same period,  GreenPoint Credit
Corporation had in effect a fidelity bond and errors and omissions policy in the
amount of $50 million and $20 million respectively.

Sincerely,

/s/ Peter Paul                   /s/ Charlies P. Richardson
------------------------------   -----------------------------------------------
Peter Paul, President            Charles P. Richardson, Executive Vice President

/s/ Charles O. Ryan              /s/ Mary Churley
------------------------------   -----------------------------------------------
Charles O. Ryan, Vice President  Mary Churley, Assistant Vice President


                                       7
<PAGE>


                        REPORT OF INDEPENDENT ACCOUNTANTS


To the Board of Directors and Stockholder
  Of GreenPoint Credit LLC


We have examined management's assetion about GreenPoint Credit LLC's (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 theyear ended December 31, 2000 included
in the accompanying management assertion. Management is responsible for the
Company's compliance with those minimum servicing standards. Our responsibility
is to express an opinion on management's assertion about the Company's
compliance based on our examination.

Our examination was made in accordance with standards established by the America
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
reasonsble 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 the the year ended December
31, 2000 is fairly stated, in all material respects.


/s/ PricewaterhouseCoopers LLP


January 16, 20001


                                       8
<PAGE>


                                  EXHIBIT 99.3


                 GREENPOINT MANUFACTURED HOUSING CONTRACT TRUST
                            PASS THROUGH CERTIFICATES
                                  SERIES 2000-1
                    JANUARY 1, 2000 THROUGH DECEMBER 31, 2000




<TABLE>
<CAPTION>
                                            Class A-1          Class A-2        Class A-3        Class A-4
                                            ---------          ---------        ---------        ---------
<S>                                                 <C>                <C>              <C>              <C>               <C>
2000 Distribution Allocable to Principal     17,221,238.82              0.00             0.00             0.00
2000 Distributions Allocable to Interest      3,280,484.14      4,710,733.30       991,250.00     4,748,333.30
12/31/00 Remaining Principal Balance         46,778,761.18     74,380,000.00    15,000,000.00    70,000,000.00

                                            Class A-5          Class M-1        Class M-2        Class B-1         Class B-2
                                            ---------          ---------        ---------        ---------         ---------
2000 Distribution Allocable to Principal              0.00              0.00             0.00             0.00               0.00
2000 Distributions Allocable to Interest      1,621,573.30      1,636,250.00     1,741,366.70     1,402,500.00       1,912,500.00
12/31/00 Remaining Principal Balance         24,820,000.00     23,800,000.00    23,800,000.00    18,700,000.00      25,500,000.00
</TABLE>


Number and aggregate remaining principal balance of Contracts with payments
delinquent:

<TABLE>
<CAPTION>
           Days Delinquent               Number            Aggregate Remaining Principal Balance
           ---------------               ------            -------------------------------------
<S>           <C>                          <C>                             <C>
               31 - 59                     313                            13,503,393.08
               60 - 89                     68                              2,609,562.74
              90 or more                   124                             6,014,538.37
</TABLE>


<TABLE>
<S>                                                                                                      <C>
Aggregate amount of servicing fees and expenses payable out of the trust for 2000:             2,775,473.21

The number of contracts that were repurchased or replaced during 2000:                                    0

2000 Aggregate Principal Balance of All Contracts repossessed or foreclosed upon              15,524,806.74

The balance in the Reserve Account as of 12/31/00                                                      0.00

2000 Cumulative Realized Losses                                                                3,016,049.54

The amount of any outstanding Monthly Advance Amount as of 12/31/00                            1,316,022.71

2000 amounts deposited to Reserve Account                                                              0.00

The pool scheduled principal balance, expressed as a percentage                                 94.9349298%
     of the Cut-Off Date pool principal balance

The number of Manufactured Homes Currently held by the Servicer due to Repossessions                    232
    and the aggregate principal balance of the related defaulted Contracts                    10,263,408.56
</TABLE>


                                       9