<PAGE>

                                                                    EXHIBIT 99.2

                [GREENPOINT MORTGAGE FUNDING, INC. LETTERHEAD]

                                 March 30, 2001

Bank One, National Association
1 Bank One Plaza
Suite IlI-0126
Chicago, IL  60670-0126
Attn: Corporate Trust Services

Ambac Assurance Corporation
One State Street Plaza
New York, NY  10004
Attn: Structured Finance Department-MBS

Moody's Investors Service, Inc.
99 Church Street
New York, NY  10004

Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies,
Inc.
55 Water Street
New York, NY  10041
Attn: Asset-Backed Surveillance Department

              RE:  GreenPoint Home Equity Loan Trust (Series 1999-2);
                   Accountants' Servicing Report regarding the Master Servicer
                   ------------------------------------------------------------

Ladies and Gentlemen:

     Pursuant to Section 3.10 of the Indenture and Section 5(f) of the
Underwriting Agreement with respect to the above-referenced offering, enclosed
please find a copy of the Accountants' Servicing Report concerning the
activities of GreenPoint Mortgage Funding, Inc. (as Master Servicer) during the
preceding year.

                                               Very truly yours

                                               GREENPOINT MORTGAGE
                                               FUNDING, INC.,
                                               as Master Servicer

                                               /s/ Nathan Hieter
                                               --------------------------------
                                               Nathan Hieter
                                               Vice President
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                      [PRICEWATERHOUSECOOPERS LETTERHEAD]

                        INDEPENDENT ACCOUNTANT'S REPORT


To the Board of Directors and Shareholder of
GreenPoint Mortgage Funding, Inc.


We have examined management's assertion about GreenPoint Mortgage Funding Inc.'s
(the "Company"), a wholly-owned subsidiary of GreenPoint Bank, 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 December 31, 2000 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 entity'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 standards.

In our opinion, management's assertion that the Company complied with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2000 is fairly stated, in all material respects.

/s/ PricewaterhouseCoopers LLP

March 20, 2001
Los Angeles, California
<PAGE>

                    [GREENPOINT MORTGAGE FUNDING LETTERHEAD]


                   MANAGEMENT ASSERTION REGARDING COMPLIANCE
                       WITH MINIMUM SERVICING STANDARDS


As of and for the year ended December 31, 2000, GreenPoint Mortgage Funding,
Inc. (the "Company"), a wholly-owned subsidiary of GreenPoint Bank, 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 maintained on behalf of the Company, errors and omissions and
employee fidelity bond insurance policies in the amount of $20,000,000 and
$50,000,000, respectively.


March 20, 2001

/s/ Dennis Tussey
------------------------
Dennis Tussey
Servicing Manager


/s/ Robert Bernstein
---------------------------
Robert Bernstein
Chief Financial Officer


/s/ S.A. Ibrahim
----------------------------
S.A. Ibrahim
Chief Executive Officer