<PAGE>

                                  Exhibit 10.1

CONTACTS
--------------------------------------------------------------------------------

          Administrator:             Barbara A Campbell
          Direct Phone No:           (714)247-6278
          Address:                   Deutsche Bank
                                     1761 E. St. Andrew Place
                                     Santa Ana, CA 92705

          Web Site:                  http://www-apps.gis.deutsche-bank.com/invr
          Factor Information:        (800) 735-7777
          Main Phone No:             (714) 247-6000

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
ISSUANCE INFORMATION
-----------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>                                                     <C>                        <C>
       Seller:                 GreenPoint Mortgage                                     Cut-Off Date:              February 28, 2001
       Certificate Insurer:    Financial Guaranty Insurance Corporation                Closing Date:              April 12, 2001
       Servicer(s):            GreenPoint Mortgage - Master Servicer                   First Payment Date:        May 15, 2001

       Underwriter(s):         Lehman Brothers Securities Corporation - Underwriter    Distribution Date:         August 15, 2001
                                                                                       Record Date:               August 14, 2001

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                    GreenPoint Home Equity Loan Trust 2001-1
                   Home Equity Loan Asset-Backed Certificates

                                  Series 2001-1

           Certificate Payment Report for August 15, 2001 Distribution

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
-----------------------------------------------------------------------------------------------------------------------------------
                                      Prior                                                                            Current
        Class        Original       Principal                                   Total       Realized    Deferred      Principal
 Class   Type       Face Value       Balance       Interest    Principal     Distribution    Losses     Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                       (1)           (2)          (3)        (4)=(2)+(3)       (5)        (6)         (7)=(1)-(3)-
                                                                                                                       (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>    <C>        <C>             <C>              <C>         <C>            <C>            <C>        <C>

  A-1  FLT,STEP   196,178,000.00  183,949,912.07    620,830.95   5,737,838.71   6,358,669.66           -       -    178,212,073.36
  A-2  FLT,STEP   106,801,000.00  100,892,061.59    341,351.48   2,736,816.56   3,078,168.04           -       -     98,155,245.03
   R      R                    -              -              -              -              -           -       -                 -

-----------------------------------------------------------------------------------------------------------------------------------
 Total            302,979,000.00  284,841,973.66    962,182.43   8,474,655.27   9,436,837.70           -       -    276,367,318.39
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

Interest Accrual Detail                Current Period Factor Information per $1,000 of Original Face
-----------------------------------------------------------------------------------------------------------------------------------
                                                   Orig. Principal    Prior                                           Current
          Period    Period                         (with Notional)  Principal                             Total      Principal
 Class   Starting   Ending    Method      Cusip        Balance       Balance    Interest     Principal Distribution   Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                                                       (1)        (2)           (3)    (4)=(2)+(3)      (5)
-----------------------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>      <C>         <C>        <C>              <C>         <C>          <C>       <C>           <C>
  A-1    07/16/01  08/14/01 A-Act/360   395385AJ6  196,178,000.00    937.668404    3.164631   29.248125    32.412756   908.420278
  A-2    07/16/01  08/14/01 A-Act/360   395385AK3  106,801,000.00    944.673379    3.196145   25.625383    28.821528   919.047996
   R                               -                            -             -           -           -            -            -

-----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>

Distribution in Dollars - to Date
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      Current
           Original                  Unscheduled    Scheduled         Total          Total    Realized Deferred      Principal
 Class    Face Value     Interest     Principal     Principal      Principal     Distribution  Losses  Interest       Balance
-----------------------------------------------------------------------------------------------------------------------------------
             (1)           (2)           (3)           (4)        (5)=(3)+(4)    (6)=(2)+(5)     (7)      (8)       (9)=(1)-(5)-
                                                                                                                       (7)+(8)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>            <C>          <C>             <C>          <C>            <C>            <C>     <C>       <C>
  A-1   196,178,000.00 2,965,040.23 16,999,396.25     966,530.40  17,965,926.65  20,930,966.88       -         -    178,212,073.36
  A-2   106,801,000.00 1,631,622.73  8,124,357.47     521,397.50   8,645,754.97  10,277,377.70       -         -     98,155,245.03
   R                 -            -             -              -              -              -       -         -                 -

-----------------------------------------------------------------------------------------------------------------------------------
 Total  302,979,000.00 4,596,662.96 25,123,753.72   1,487,927.90  26,611,681.62  31,208,344.58       -         -    276,367,318.39
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
Interest Detail
------------------------------------------------------------------------------------------------------------------------------------
          Pass-    Prior Principal                     Non-          Prior       Unscheduled                  Paid or      Current
         Through   (with Notional)     Accrued      Supported        Unpaid        Interest      Optimal      Deferred      Unpaid
 Class     Rate        Balance        Interest     Interest SF      Interest     Adjustments    Interest      Interest     Interest
------------------------------------------------------------------------------------------------------------------------------------
                                         (1)           (2)            (3)            (4)        (5)=(1)-         (6)     (7)=(5)-(6)
                                                                                              (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>                <C>          <C>              <C>          <C>           <C>            <C>          <C>

  A-1     4.05000%  183,949,912.07     620,830.95              -              -              -  620,830.95     620,830.95     -
  A-2     4.06000%  100,892,061.59     341,351.48              -              -              -  341,351.48     341,351.48     -
   R                             -              -              -              -              -           -              -     -

------------------------------------------------------------------------------------------------------------------------------------
 Total              284,841,973.66     962,182.43              -              -              -  962,182.43     962,182.43     -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
                            Collection Account Report
----------------------------------------------------------------------------------------------------------
<S>                                                            <C>             <C>              <C>
INTEREST - WITHDRAWALS                                           POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

----------------------------------------------------------------------------------------------------------


INTEREST - OTHER ACCOUNTS                                        POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

----------------------------------------------------------------------------------------------------------


INTEREST - FEES                                                  POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------

    Trustee Fee                                                   678.33        1,237.01         1,915.34
    Certificate Insurer Premium                                14,723.29       26,731.81        41,455.10
    Management Fee                                                177.10          322.90           500.00

    TOTAL INTEREST FEES                                        15,578.72       28,291.72        43,870.44

----------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
                            Credit Enhancement Report

----------------------------------------------------------------------------------------------------------

ACCOUNTS                                                         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------
<S>                                                         <C>             <C>              <C>
    Beginning Reserve Fund Balance                                                           2,458,442.29
    Curr Period Amounts Dep to Res Fund                                                        659,057.95
    Curr Withdrawal from Reserve Fund                                                          631,151.57
    Reserve Fund Balance                                                                     3,117,500.24

----------------------------------------------------------------------------------------------------------


INSURANCE                                                        POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------

    Insured Amount                                                  0.00            0.00             0.00
    Reimbursements to the Insurer                                   0.00            0.00             0.00
    Cumulative Insurance Payment                                    0.00            0.00             0.00

    Draws on the Policy                                             0.00            0.00             0.00
    Draws on the Demand Note                                        0.00            0.00             0.00

    Interest portion of Guarantee Payment                           0.00            0.00             0.00
    Principal portion of Guarantee Payment                          0.00            0.00             0.00
    Guarantee Payment for this date                                 0.00            0.00             0.00
    Cumulative Guaranty Payments                                    0.00            0.00             0.00

----------------------------------------------------------------------------------------------------------


STRUCTURAL FEATURES                                              POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------

    Three Month Average Net Excess Spread Amount                24.5351%         3.7968%
    Rolling Six-month Pool Delinquency Rate                      0.0000%         0.0000%

    Prior Overcollateralization                               856,821.63    1,602,130.65     2,458,952.28
    Amount
    Specified Overcollateralization Amount                  2,657,926.29    2,946,432.61     5,604,358.90
    Overcollateralization Amount                            1,092,771.62    2,025,238.61     3,118,010.23
    Overcollateralization Deficiency Amount                 1,565,154.67      921,194.00     2,486,348.67

    Overcollateralization Deficit                                   0.00            0.00             0.00
    Overcollateralization Reduction Amount                          0.00            0.00             0.00
    Step-Up Overcollateralization Amount                            0.00            0.00             0.00

    Current Accelerated Principal Payment                     235,949.99      423,107.96       659,057.95
    Cumulative Accelerated Principal Payment                1,092,589.22    2,024,911.02     3,117,500.24

----------------------------------------------------------------------------------------------------------
</TABLE>





<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                Collateral Report
---------------------------------------------------------------------------------------------------------

ARM CHARACTERISTICS                                             POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------
<S>                                                           <C>             <C>             <C>
    Weighted Average Margin Original                           293.006%        228.112%
    Weighted Average Margin Prior                              294.074%        229.007%
    Weighted Average Margin Current                            294.265%        229.317%
    -----------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                          17.033%         14.638%
    Weighted Average Max Rate Prior                             17.060%         14.850%
    Weighted Average Max Rate Current                           17.118%         14.885%
    -----------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                           2.930%          2.281%
    Weighted Average Min Rate Prior                              2.941%          2.291%
    Weighted Average Min Rate Current                            2.943%          2.294%
    -----------------------------------------------------------------------------------------------------
    Weighted Average Cap Up Original
    Weighted Average Cap Up Prior
    Weighted Average Cap Up Current

    -----------------------------------------------------------------------------------------------------
    Weighted Average Cap Down Original
    Weighted Average Cap Down Prior
    Weighted Average Cap Down Current

---------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.
</TABLE>

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                       POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------
<S>                                                           <C>             <C>             <C>
    TOTAL SERVICING FEE                                       42,395.37       77,313.35       119,708.72


---------------------------------------------------------------------------------------------------------

ADDITIONAL COLLATERAL INFORMATION                               POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

---------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                           Delinquency Report - Total

--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                    CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                         <C>           <C>               <C>            <C>             <C>
DELINQUENT           Balance                                   3,655,739.97      541,859.51               -     4,197,599.48
                     % Balance                                         1.31%           0.19%           0.00%            1.50%
                     # Loans                                             63              13               -               76
                     % # Loans                                         1.27%           0.26%           0.00%            1.53%
-----------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                      49,217.30       59,925.84      192,079.91    2,164,946.08     2,466,169.13
                     % Balance                         0.02%           0.02%           0.07%           0.77%            0.88%
                     # Loans                              1               1               5              27               34
                     % # Loans                         0.02%           0.02%           0.10%           0.54%            0.69%
-----------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                     155,649.45       56,626.52               -               -       212,275.97
                     % Balance                         0.06%           0.02%           0.00%           0.00%            0.08%
                     # Loans                              3               2               -               -                5
                     % # Loans                         0.06%           0.04%           0.00%           0.00%            0.10%
-----------------------------------------------------------------------------------------------------------------------------
REO                  Balance                              -               -               -               -                -
                     % Balance                         0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                              -               -               -               -                -
                     % # Loans                         0.00%           0.00%           0.00%           0.00%            0.00%
-----------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                     204,866.75    3,772,292.33      733,939.42    2,164,946.08     6,876,044.58
                     % Balance                         0.07%           1.35%           0.26%           0.77%            2.46%
                     # Loans                              4              66              18              27              115
                     % # Loans                         0.08%           1.33%           0.36%           0.54%            2.32%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+
      Payments = 90+

--------------------------------------------------------------------------------
                        Delinquency Report - Pool I Group

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                    CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
-----------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                         <C>           <C>               <C>             <C>            <C>
DELINQUENT           Balance                                   2,847,394.83      442,060.06               -     3,289,454.89
                     % Balance                                         1.58%           0.25%           0.00%            1.83%
                     # Loans                                             57              10               -               67
                     % # Loans                                         1.45%           0.25%           0.00%            1.70%
-----------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                      49,217.30       59,925.84      192,079.91      973,315.98     1,274,539.03
                     % Balance                         0.03%           0.03%           0.11%           0.54%            0.71%
                     # Loans                              1               1               5              22               29
                     % # Loans                         0.03%           0.03%           0.13%           0.56%            0.74%
-----------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                     155,649.45       56,626.52               -               -       212,275.97
                     % Balance                         0.09%           0.03%           0.00%           0.00%            0.12%
                     # Loans                              3               2               -               -                5
                     % # Loans                         0.08%           0.05%           0.00%           0.00%            0.13%
-----------------------------------------------------------------------------------------------------------------------------
REO                  Balance                              -               -               -               -                -
                     % Balance                         0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                              -               -               -               -                -
                     % # Loans                         0.00%           0.00%           0.00%           0.00%            0.00%
-----------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                     204,866.75    2,963,947.19      634,139.97      973,315.98     4,776,269.89
                     % Balance                         0.11%           1.64%           0.35%           0.54%            2.65%
                     # Loans                              4              60              15              22              101
                     % # Loans                         0.10%           1.52%           0.38%           0.56%            2.57%
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+
      Payments = 90+






<PAGE>

--------------------------------------------------------------------------------
                       Delinquency Report - Pool II Group

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                  CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
--------------------------------------------------------------------------------------------------------------------------
<S>                                               <C>         <C>              <C>          <C>                <C>
DELINQUENT           Balance                                  808,345.14       99,799.45               -       908,144.59
                     % Balance                                      0.81%           0.10%           0.00%            0.92%
                     # Loans                                           6               3               -                9
                     % # Loans                                      0.58%           0.29%           0.00%            0.88%
--------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                           -               -               -    1,191,630.10     1,191,630.10
                     % Balance                      0.00%           0.00%           0.00%           1.20%            1.20%
                     # Loans                           -               -               -               5                5
                     % # Loans                      0.00%           0.00%           0.00%           0.49%            0.49%
--------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                           -               -               -               -                -
                     % Balance                      0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                           -               -               -               -                -
                     % # Loans                      0.00%           0.00%           0.00%           0.00%            0.00%
--------------------------------------------------------------------------------------------------------------------------
REO                  Balance                           -               -               -               -                -
                     % Balance                      0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                           -               -               -               -                -
                     % # Loans                      0.00%           0.00%           0.00%           0.00%            0.00%
--------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                           -      808,345.14       99,799.45    1,191,630.10     2,099,774.69
                     % Balance                      0.00%           0.81%           0.10%           1.20%            2.12%
                     # Loans                           -               6               3               5               14
                     % # Loans                      0.00%           0.58%           0.29%           0.49%            1.36%
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
      Payments = 90+





<PAGE>

--------------------------------------------------------------------------------
     REO Report - Mortgage Loans that Become REO During Current Distribution

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
SUMMARY                                             LOAN GROUP
------------------------------------------------------------------------------------------------------------------------

<S>                                                 <C>
Total Loan Count = 0                                Loan Group 1 = Pool I Group;  REO Book Value = 000.00
Total Original Principal Balance = 000.00           Loan Group 2 = Pool II Group;  REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00

------------------------------------------------------------------------------------------------------------------------
</TABLE>

REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

<TABLE>
------------------------------------------------------------------------------------------------------------------------
  Loan Number      Original         Stated                      Current        State &
       &           Principal       Principal       Paid to        Note         LTV at         Original      Origination
  Loan Group        Balance         Balance          Date         Rate       Origination        Term           Date
------------------------------------------------------------------------------------------------------------------------
<S>                <C>             <C>             <C>          <C>          <C>              <C>           <C>
                                            SPACE INTENTIONALLY LEFT BLANK


------------------------------------------------------------------------------------------------------------------------
</TABLE>





<PAGE>


--------------------------------------------------------------------------------
                    Prepayment Report - Voluntary Prepayments
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                                POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                            <C>             <C>               <C>
    Current
    Number of Paid in Full Loans                                                          29             117              146
    Number of Repurchased Loans                                                            -               -                -
    --------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                 29             117              146

    Paid in Full Balance                                                        2,945,276.74    5,878,660.71     8,823,937.45
    Repurchased Loans Balance                                                              -               -                -
    Curtailments Amount                                                         1,708,804.76    1,708,367.63     3,417,172.39
    --------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                     4,654,081.50    7,587,028.34    12,241,109.84

    Cumulative
    Number of Paid in Full Loans                                                         164             492              656
    Number of Repurchased Loans                                                            -               -                -
    --------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                164             492              656

    Paid in Full Balance                                                       15,221,486.34   25,377,383.63    40,598,869.97
    Repurchased Loans Balance                                                              -               -                -
    Curtailments Amount                                                         9,629,944.21   11,038,794.52    20,668,738.73
    --------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                    24,851,430.55   36,416,178.15    61,267,608.70
</TABLE>


                         SPACE INTENTIONALLY LEFT BLANK

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------



VOLUNTARY PREPAYMENT RATES                                                           POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                 <C>             <C>              <C>
    SMM                                                                                4.58%           4.10%            4.27%
    3 Months Avg SMM                                                                   4.71%           3.91%            4.20%
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                              5.93%           4.76%            5.17%

    CPR                                                                               43.04%          39.46%           40.75%
    3 Months Avg CPR                                                                  43.94%          38.06%           40.21%
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                             51.96%          44.28%           47.12%

    PSA                                                                             3631.52%        3259.74%         3391.59%
    3 Months Avg PSA Approximation                                                  4458.73%        3759.03%         4009.90%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                             5870.30%        4845.52%         5214.16%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>





<PAGE>

PREPAYMENT CALCULATION METHODOLOGY
--------------------------------------------------------------------------------
    Single Monthly Mortality (SMM): (Voluntary partial and full prepayments +
    Repurchases)/(Beg Principal Balance - Sched Principal)

    Conditional Prepayment Rate (CPR): 1-((1-SMM)12)

    PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))

    Average SMM over period between nth month and mth month (AvgSMMn,m): [(1
    -SMMn) * (1-SMMn+1) **(1-SMMm)](1/months in period n,m) Average CPR over
    period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)12)

    Average PSA Approximation over period between the nth month and mth month:
    AvgCPRn,m/(0.02*Avg WASn,m))

    Average WASn,m: (min(30,WASn)+min(30,WASn+1)++min(30,WASm)/(number of months
    in the period n,m)

    Weighted Average Seasoning (WAS)

    Note:  Prepayment rates are calculated since deal issue date and include
           partial and full voluntary prepayments and repurchases. Dates
           correspond to distribution dates.

--------------------------------------------------------------------------------

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                        Realized Loss Report - Collateral

------------------------------------------------------------------------------------------------------------------------

COLLATERAL REALIZED LOSSES                                                  POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>              <C>               <C>
    Current
    Number of Loans Liquidated                                                   -               -                -
    Collateral Realized Loss/(Gain) Amount                                       -               -                -
    Net Liquidation Proceeds                                                     -               -                -


    Cumulative
    Number of Loans Liquidated                                                   -               -                -
    Collateral Realized Loss/(Gain) Amount                                       -               -                -
    Net Liquidation Proceeds                                                     -               -                -

    Note: Collateral realized losses may include adjustments to
          loans liquidated in prior periods.


    Cumulative Losses as % of Original Balance                              0.0000%         0.0000%          0.0000%

    Cumulative Losses as % of Current Balance                               0.0000%         0.0000%          0.0000%

---------------------------------------------------------------------------------------------------------------------

<CAPTION>

DEFAULT SPEEDS                                                              POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>              <C>               <C>
    MDR                                                                       0.00%           0.00%            0.00%
    3 Months Avg MDR                                                          0.00%           0.00%            0.00%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                     0.00%           0.00%            0.00%

    CDR                                                                       0.00%           0.00%            0.00%
    3 Months Avg CDR                                                          0.00%           0.00%            0.00%
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                     0.00%           0.00%            0.00%

    SDA                                                                       0.00%           0.00%            0.00%
    3 Months Avg  SDA Approximation                                           0.00%           0.00%            0.00%
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                       0.00%           0.00%            0.00%

    Loss Severity Approximation for Current Period
    3 Months Avg Loss Severity Approximation
    12 Months Avg Loss Severity Approximation
    Avg  Loss Severity Approximation Since Cut-off

---------------------------------------------------------------------------------------------------------------------
</TABLE>






<PAGE>

COLLATERAL REALIZED LOSS  CALCULATION METHODOLOGY
--------------------------------------------------------------------------------
    Monthly Default Rate (MDR):  (Beg Principal Balance of Liquidated Loans)/
                                 (Total Beg Principal Balance)

    Conditional Default Rate (CDR): 1-((1-MDR) 12)

    SDA Standard Default Assumption:

    CDR/IF(WAS 61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))

    Average MDR over period between nth month and mth month (AvgMDRn,m):
    [(1-MDRn) * (1-MDRn+1) **(1-MDRm)](1/months in period n,m)

    Average CDR over period between the nth month and mth month (AvgCDRn,m):
    1-((1-AvgMDRn,m) 12)

    Average SDA Approximation over period between the nth month and mth month:

    AvgCDRn,m/IF(Avg WASn,m 61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg
    WASn,m)*0.02-0.0095*(Avg WASn,m-60)))

    Average WASn,m: (WASn + WASn+1 ++ WASm)/(number of months in the period n,m)

    Loss Severity Approximation for current period: sum(Realized Loss Amount)/
    sum(Beg Principal Balance of Liquidated Loans)

    Average Loss Severity Approximation over period between nth month and mth
    month: Avg(Loss Severityn,m)

    Note: Default rates are calculated since deal issue date and include
          realized gains and additional realized losses and gains from prior
          periods.

          Dates correspond to distribution dates.

--------------------------------------------------------------------------------





<PAGE>

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                   Triggers, Adj. Rate Cert. and Miscellaneous Report

---------------------------------------------------------------------------------------------------------------------------------

TRIGGER EVENTS                                                                          POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>              <C>               <C>
    Servicer Event of Default                                                                No              No               No

    Insurer Default                                                                          No              No               No

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<CAPTION>


ADJUSTABLE RATE CERTIFICATE INFORMATION                                                 POOL II          POOL I            TOTAL
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<S>                                                                                     <C>              <C>               <C>
                         SPACE INTENTIONALLY LEFT BLANK

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<CAPTION>


ADDITIONAL INFORMATION                                                                  POOL II          POOL I            TOTAL
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<S>                                                                                     <C>              <C>               <C>
    Detail Delinq. Breakdown to Supplement pages 11-13
    Number of Mort. Loans Delinq. 90 -119 days                                                -               -                -
    Balance of Mort. Loans Delinq. 90 -119 days                                            0.00            0.00             0.00
    Number of Mort. Loans Delinq. 120 -149 days                                               1               -                1
    Balance of Mort. Loans Delinq. 120 -149 days                                     140,633.34            0.00       140,633.34
    Number of Mort. Loans Delinq. 150 -179 days                                               -               -                -
    Balance of Mort. Loans Delinq. 150 -179 days                                           0.00            0.00             0.00
    Number of Mort. Loans Delinq. 180 days or more                                            -               -                -
    Balance of Mort. Loans Delinq. 180 days or more                                        0.00            0.00             0.00
    Count of ALL Loans 180 day plus bucket                                                    -               2                2
    Balance of ALL Loans 180 day plus bucket                                               0.00      196,200.00       196,200.00
    Management Fee Accrued and Unpaid                                                    708.41        1,291.59         2,000.00

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</TABLE>

<PAGE>

<TABLE>
<CAPTION>
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                               Realized Loss Detail Report - Loans Liquidated During Current Distribution

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SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                ---------------------------------------------------
<S>                                                                      <C>
Total Loan Count =   0                                                   Loan Group 1    =    Pool I Group
Total Original Principal Balance =  0.00                                 Loan Group 2    =    Pool II Group
Total Prior Principal Balance =   0.00
Total Realized Loss Amount =   0.00
Total Net Liquidation Proceeds =   0.00
---------------------------------------------------------                ---------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
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   Loan Number               Original         Prior                    Current       State &
        &           Loan     Principal      Principal        Realized   Note          LTV at         Original       Origination
    Loan Group     Status     Balance        Balance       Loss/(Gain)  Rate       Origination         Term            Date
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   <S>             <C>       <c>            <C>            <C>         <C>         <C>               <C>            <C>
                                               SPACE INTENTIONALLY LEFT BLANK

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</TABLE>