<PAGE>

                                                         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, 1999

                                       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  333-80437

     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 1999-3, CLASS IA AND CLASS IIA CERTIFICATES
                    (TOGETHER, THE "OFFERED CERTIFICATES")


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


                DELAWARE                                       13-4002891
                --------                                       ----------
            (state or other                                 (I.R.S. employer
     jurisdiction 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)

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,
1999:  NOT APPLICABLE.

-----------------
(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
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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 1999-3 (the "Certificates") pursuant to a pooling and servicing
agreement, dated as of May 1, 1999 (the "Agreement"), between the Registrant, as
Seller and Servicer and The First National Bank of Chicago, 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 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, 1999, the offered Certificates were held of record by
1 Depository Trust Company Participant.

                                       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, 1999 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, 1999.

         99.2        Annual Servicing Report for the Trust
                     for the year ended December 31, 1999.

         99.3        Aggregate Payment Amounts for the
                     year ended December 31, 1999.


                                       3
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SIGNATURES

    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.

Dated: March 29, 2000

                                           /s/ Charles O. Ryan
                                           -----------------------
                                           Charles O. Ryan
                                           Vice President
                                           GreenPoint Credit, LLC


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934, this
Annual Report on Form 10-K has been signed by the following persons on behalf of
the Registrant and in the capacities and on the dates indicated.


SIGNATURES                      TITLE                           DATE

    /s/ Peter Paul              President, Chief Executive      March 29, 2000
-----------------------------   Officer and Manager
    Peter Paul*


    /s/ John S Buchanan         Senior Vice President           March 29, 2000
-----------------------------   Treasurer and Manager
    John S. Buchanan*


    /s/ Charles P. Richardson   Executive Vice President        March 29, 2000
-----------------------------   and Manager
    Charles P. Richardson*


    /s/ Abdul H. Rajput         Executive Vice President        March 29, 2000
-----------------------------   and Manager
    Abdul H. Rajput*


    /s/ Robert Arena            Executive Vice President        March 29, 2000
-----------------------------
    Robert Arena*


    /s/ Alberto Bambach         Senior Vice President           March 29, 2000
-----------------------------
    Alberto Bambach*


* Signed by Charles P. Richardson, Attorney-in-Fact.



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                                 EXHIBIT INDEX


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

     99.1        Annual Statement as to Compliance for the Trust
                 for the year ended December 31, 1999

     99.2        Annual Servicing Report for the Trust for the
                 year ended December 31, 1999

     99.3        Aggregate Payment Amounts for the year
                 ended December 31, 1999


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