<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

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


ISSUANCE INFORMATION

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
<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:      November 15, 2001
                                                                                     Record Date:            November 14, 2001

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

<PAGE>

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

          Certificate Payment Report for November 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>       <C>
A-1    FLT,STEP  196,178,000.00  164,604,811.07   389,084.62   9,603,864.02   9,992,948.64          -            -   155,000,947.05
A-2    FLT,STEP  106,801,000.00   91,223,011.15   216,413.92   5,324,462.48   5,540,876.40          -            -    85,898,548.67
 R        R                   -               -   866,841.69              -     866,841.69          -            -                -

------------------------------------------------------------------------------------------------------------------------------------
Total            302,979,000.00  255,827,822.22 1,472,340.23  14,928,326.50  16,400,666.73          -            -   240,899,495.72
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<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   10/15/01 11/14/01  A-Act/360   395385AJ6  196,178,000.00   839.058463     1.983324    48.954847      50.938172     790.103615

A-2   10/15/01 11/14/01  A-Act/360   395385AK3  106,801,000.00   854.140047     2.026329    49.854051      51.880379     804.285996

 R                               -                           -            -            -            -              -              -

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

<TABLE>
<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  4,477,871.04 39,376,561.75  1,800,491.20  41,177,052.95  45,654,923.99          -          -  155,000,947.05
 A-2    106,801,000.00  2,466,687.83 19,948,368.15    954,083.19  20,902,451.34  23,369,139.17          -          -   85,898,548.67
  R                  -  3,026,419.62             -             -              -   3,026,419.62          -          -               -
 -----------------------------------------------------------------------------------------------------------------------------------
Total   302,979,000.00  9,970,978.49 59,324,929.90   2,754,574.39 62,079,504.29  72,050,482.77          -          -  240,899,495.72
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<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>             <C>
  A-1    2.74500%  164,604,811.07    389,084.62             -             -              -   389,084.62     389,084.62           -
  A-2    2.75500%   91,223,011.15    216,413.92             -             -              -   216,413.92     216,413.92           -
   R                            -             -             -             -              -            -     866,841.69           -

-----------------------------------------------------------------------------------------------------------------------------------
 Total             255,827,822.22    605,498.54             -             -              -   605,498.54   1,472,340.23           -
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                           Collection Account Report
--------------------------------------------------------------------------------


SUMMARY                                 POOL II          POOL I           TOTAL
--------------------------------------------------------------------------------

  Net Principal Collections        5,068,574.84    9,123,253.74   14,191,828.58

  TOTAL PRINCIPAL                  5,068,574.84    9,123,253.74   14,191,828.58

  Interest Collections               741,692.16    1,374,671.35    2,116,363.51
  Interest Fees                      (13,681.25)     (24,687.88)     (38,369.13)

  TOTAL INTEREST                     728,010.91    1,349,983.47    2,077,994.38

  TOTAL AVAILABLE FUNDS            5,796,585.75   10,473,237.21   16,269,822.96

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


PRINCIPAL - COLLECTIONS                 POOL II          POOL I           TOTAL
--------------------------------------------------------------------------------

  Principal Collections            6,841,446.38   10,414,824.45   17,256,270.83
  Repurchases/Substitutions                0.00            0.00            0.00
  Liquidations                        77,866.50      559,380.93      637,247.43
  Insurance Principal                      0.00            0.00            0.00
  Liquidation Loss Amounts                 0.00            0.00            0.00
  Additional Balances             (1,850,738.04)  (1,850,951.64)  (3,701,689.68)

  TOTAL PRINCIPAL COLLECTED        5,068,574.84    9,123,253.74   14,191,828.58

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


PRINCIPAL - WITHDRAWALS                 POOL II          POOL I           TOTAL
--------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK


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


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


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


INTEREST - COLLECTIONS                  POOL II          POOL I           TOTAL
--------------------------------------------------------------------------------

  Interest Collections               779,697.83    1,439,777.09    2,219,474.92
  Repurchases/Substitutions                0.00            0.00            0.00
  Liquidations                           630.39        4,646.43        5,276.82
  Insurance Interest                       0.00            0.00            0.00
  Other Additional Interest                0.00            0.00            0.00
  Current Servicing Fee              (38,636.06)     (69,752.17)    (108,388.23)

  TOTAL INTEREST                     741,692.16    1,374,671.35    2,116,363.51

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

<PAGE>

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                            618.18        1,116.03         1,734.21
  Certificate Insurer Premium          2,884.78       23,250.14        36,134.92
  Management Fee                         178.29          321.71           500.00

  TOTAL INTEREST  FEES                 3,681.25       24,687.88        38,369.13

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

<PAGE>

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


ACCOUNTS                                                       POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------
<S>                                                       <C>             <C>              <C>
    Beginning Reserve Fund Balance                                                         2,159,297.95
    Curr Period Amounts Dep to Res Fund                                                      736,497.92
    Curr Withdrawal from Reserve Fund                                                        866,841.69
    Reserve Fund Balance                                                                   2,895,795.87

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

<CAPTION>
INSURANCE                                                      POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------
<S>                                                            <C>              <C>               <C>
    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

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

<CAPTION>
STRUCTURAL FEATURES                                            POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------
<S>                                                       <C>             <C>              <C>
    Three Month Average Net Excess Spread Amount               6.0187%         6.3193%
    Rolling Six-month Pool Delinquency Rate                    0.0000%         0.0000%

    Prior Overcollateralization Amount                    1,503,540.84    2,800,403.11     4,303,943.95
    Specified Overcollateralization Amount                3,577,670.61    3,491,725.44     7,069,396.05
    Overcollateralization Amount                          1,759,428.48    3,281,013.39     5,040,441.87
    Overcollateralization Deficiency Amount               1,818,242.13      210,712.05     2,028,954.18

    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                   255,887.64      480,610.28       736,497.92
    Cumulative Accelerated Principal Payment              1,759,246.09    3,296,127.71     5,055,373.80

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



<PAGE>

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


COLLATERAL                                                            POOL II            POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------
<S>                                                            <C>               <C>              <C>
      Loan Count:
    Original                                                             1191              4428             5619
    Prior                                                                 954             3,644            4,598
    Prefunding                                                              -                 -                -
    Scheduled Paid Offs                                                     -                 -                -
    Full Voluntary Prepayments                                            (35)             (175)            (210)
    Repurchases                                                             -                 -                -
    Liquidations                                                           (2)               (9)             (11)
    -------------------------------------------------------------------------------------------------------------
    Current                                                               917             3,460            4,377

    Principal Balance:
    Original                                                   106,801,182.40    196,178,327.60   302,979,510.00
    Prior                                                       92,726,551.99    167,405,214.18   260,131,766.17
    Prefunding                                                              -                 -                -
    Scheduled Principal                                           (180,485.10)      (329,577.19)     (510,062.29)
    Partial and Full Voluntary Prepayments                      (6,660,961.28)   (10,085,247.26)  (16,746,208.54)
    Repurchases                                                             -                 -                -
    Liquidations                                                   (77,866.50)      (559,380.93)     (637,247.43)
    -------------------------------------------------------------------------------------------------------------
    Current                                                     87,657,977.15    158,281,960.44   245,939,937.59
-----------------------------------------------------------------------------------------------------------------

<CAPTION>
PREFUNDING                                                            POOL II            POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------
<S>                                                                   <C>                <C>               <C>
                                    SPACE INTENTIONALLY LEFT BLANK


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

<CAPTION>
CHARACTERISTICS                                                       POOL II            POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>              <C>               <C>
    Weighted Average Coupon Original                                9.879188%        10.019075%        9.969764%
    Weighted Average Coupon Prior                                   9.900293%         9.982165%        9.953221%
    Weighted Average Coupon Current                                 9.680385%         9.787553%        9.749352%
    -------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                         189               195              193
    Weighted Average Months to Maturity Prior                            182               189              187
    Weighted Average Months to Maturity Current                          180               188              185
    -------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                    196               213              207
    Weighted Avg Remaining Amortization Term Prior                       188               207              200
    Weighted Avg Remaining Amortization Term Current                     184               206              198
    -------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                 2.92              3.09             3.03
    Weighted Average Seasoning Prior                                    6.94              7.21             7.11
    Weighted Average Seasoning Current                                  7.93              8.19             8.10

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

Note:  Original information refers to deal issue.

<PAGE>

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                                    POOL II            POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>                  <C>            <C>
    Weighted Average Margin Original                                                  293.006%          228.112%
    Weighted Average Margin Prior                                                     297.623%          230.016%
    Weighted Average Margin Current                                                   298.644%          230.335%
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                                                 17.033%           14.638%
    Weighted Average Max Rate Prior                                                    17.229%           14.904%
    Weighted Average Max Rate Current                                                  17.249%           14.952%
    ------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                                                  2.930%            2.281%
    Weighted Average Min Rate Prior                                                     2.976%            2.301%
    Weighted Average Min Rate Current                                                   2.986%            2.304%
    ------------------------------------------------------------------------------------------------------------------------------
    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.


SERVICING FEES / ADVANCES                                                              POOL II            POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------

    TOTAL SERVICING FEE                                                              38,636.06         69,752.17       108,388.23


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


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

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


<PAGE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                                 Delinquency Report - Total
------------------------------------------------------------------------------------------------------------------------------------

                                                            CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                                 <C>          <C>             <C>             <C>              <C>
DELINQUENT           Balance                                          4,152,774.02    2,399,374.46      572,868.61     7,125,017.09
                     % Balance                                                1.69%           0.98%           0.23%            2.90%
                     # Loans                                                    68              23               5               96
                     % # Loans                                                1.55%           0.53%           0.11%            2.19%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                     -               -               -    1,163,190.51     1,163,190.51
                     % Balance                                0.00%           0.00%           0.00%           0.47%            0.47%
                     # Loans                                     -               -               -              11               11
                     % # Loans                                0.00%           0.00%           0.00%           0.25%            0.25%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            142,703.17        9,973.22               -       57,285.73       209,962.12
                     % Balance                                0.06%           0.00%           0.00%           0.02%            0.09%
                     # Loans                                     3               1               -               1                5
                     % # Loans                                0.07%           0.02%           0.00%           0.02%            0.11%
------------------------------------------------------------------------------------------------------------------------------------
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                            142,703.17    4,162,747.24    2,399,374.46    1,793,344.85     8,498,169.72
                     % Balance                                0.06%           1.69%           0.98%           0.73%            3.46%
                     # Loans                                     3              69              23              17              112
                     % # Loans                                0.07%           1.58%           0.53%           0.39%            2.56%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                     Delinquency Report - Pool I Group
------------------------------------------------------------------------------------------------------------------------------------

                                                            CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                                 <C>          <C>             <C>             <C>              <C>
DELINQUENT           Balance                                          3,018,425.99      851,998.01      126,095.24     3,996,519.24
                     % Balance                                                1.91%           0.54%           0.08%            2.52%
                     # Loans                                                    57              17               2               76
                     % # Loans                                                1.65%           0.49%           0.06%            2.20%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                     -               -               -      485,278.37       485,278.37
                     % Balance                                0.00%           0.00%           0.00%           0.31%            0.31%
                     # Loans                                     -               -               -               9                9
                     % # Loans                                0.00%           0.00%           0.00%           0.26%            0.26%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            142,703.17               -               -       57,285.73       199,988.90
                     % Balance                                0.09%           0.00%           0.00%           0.04%            0.13%
                     # Loans                                     3               -               -               1                4
                     % # Loans                                0.09%           0.00%           0.00%           0.03%            0.12%
------------------------------------------------------------------------------------------------------------------------------------
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                            142,703.17    3,018,425.99      851,998.01      668,659.34     4,681,786.51
                     % Balance                                0.09%           1.91%           0.54%           0.42%            2.96%
                     # Loans                                     3              57              17              12               89
                     % # Loans                                0.09%           1.65%           0.49%           0.35%            2.57%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
                                          Delinquency Report - Pool II Group
-------------------------------------------------------------------------------------------------------------------------

                                                CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
-------------------------------------------------------------------------------------------------------------------------
<S>                                             <C>       <C>             <C>               <C>            <C>
DELINQUENT    Balance                                     1,134,348.03    1,547,376.45      446,773.37     3,128,497.85
              % Balance                                           1.29%           1.77%           0.51%            3.57%
              # Loans                                               11               6               3               20
              % # Loans                                           1.20%           0.65%           0.33%            2.18%
-------------------------------------------------------------------------------------------------------------------------
FORECLOSURE   Balance                                -               -               -      677,912.14       677,912.14
              % Balance                           0.00%           0.00%           0.00%           0.77%            0.77%
              # Loans                                -               -               -               2                2
              % # Loans                           0.00%           0.00%           0.00%           0.22%            0.22%
-------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY    Balance                                -        9,973.22               -               -         9,973.22
              % Balance                           0.00%           0.01%           0.00%           0.00%            0.01%
              # Loans                                -               1               -               -                1
              % # Loans                           0.00%           0.11%           0.00%           0.00%            0.11%
-------------------------------------------------------------------------------------------------------------------------
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                                -    1,144,321.25    1,547,376.45    1,124,685.51     3,816,383.21
              % Balance                           0.00%           1.31%           1.77%           1.28%            4.35%
              # Loans                                -              12               6               5               23
              % # Loans                           0.00%           1.31%           0.65%           0.55%            2.51%
-------------------------------------------------------------------------------------------------------------------------
</TABLE>

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



<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                REO Report - Mortgage Loans that Become REO During Current Distribution
------------------------------------------------------------------------------------------------------------------------------------


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

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

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
   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                                                            35             175              210
    Number of Repurchased Loans                                                              -               -                -
    ----------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                   35             175              210

    Paid in Full Balance                                                          4,805,130.70    8,410,965.50    13,216,096.20
    Repurchased Loans Balance                                                                -               -                -
    Curtailments Amount                                                           1,855,830.58    1,674,281.76     3,530,112.34
    ----------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                       6,660,961.28   10,085,247.26    16,746,208.54

    Cumulative
    Number of Paid in Full Loans                                                           272             955            1,227
    Number of Repurchased Loans                                                              -               -                -
    ----------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                  272             955            1,227

    Paid in Full Balance                                                         28,063,477.30   48,400,284.86    76,463,762.16
    Repurchased Loans Balance                                                                -               -                -
    Curtailments Amount                                                          14,108,015.40   14,890,689.65    28,998,705.05
    ----------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                      42,171,492.70   63,290,974.51   105,462,467.21

                                                 SPACE INTENTIONALLY LEFT BLANK

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

<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                             POOL II          POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                   <C>             <C>              <C>
    SMM                                                                                  7.20%           6.04%            6.45%
    3 Months Avg SMM                                                                     6.06%           5.18%            5.49%
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                                5.98%           4.94%            5.31%

    CPR                                                                                 59.19%          52.63%           55.07%
    3 Months Avg CPR                                                                    52.74%          47.17%           49.21%
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                               52.30%          45.54%           48.03%

    PSA                                                                               3730.16%        3212.97%         3399.98%
    3 Months Avg  PSA Approximation                                                   3797.92%        3273.59%         3460.06%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                               4750.13%        3995.46%         4265.42%

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


--------------------------------------------------------------------------------
                        Realized Loss Report - Collateral
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES                                                               POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>            <C>              <C>
    Current
    Number of Loans Liquidated                                                                 2               9               11
    Collateral Realized Loss/(Gain) Amount                                                     -               -                -
    Net Liquidation Proceeds                                                           77,866.50      559,380.93       637,247.43

    Cumulative
    Number of Loans Liquidated                                                                 2              16               18
    Collateral Realized Loss/(Gain) Amount                                                     -       15,441.92        15,441.92
    Net Liquidation Proceeds                                                           77,866.50      900,564.72       978,431.22

    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                                                                                    0.08%           0.33%            0.24%
    3 Months Avg MDR                                                                       0.03%           0.18%            0.12%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                                  0.01%           0.08%            0.05%

    CDR                                                                                    1.00%           3.94%            2.90%
    3 Months Avg CDR                                                                       0.34%           2.12%            1.49%
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                                  0.14%           0.91%            0.64%

    SDA                                                                                    6.32%          24.03%           17.91%
    3 Months Avg SDA Approximation                                                         2.42%          14.69%           10.45%
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                                    1.31%           8.01%            5.68%

    Loss Severity Approximation for Current Period                                         0.00%           0.00%            0.00%
    3 Months Avg Loss Severity Approximation                                               0.00%           1.99%            1.99%
    12 Months Avg Loss Severity Approximation
    Avg Loss Severity Approximation Since Cut-off                                          0.00%           1.99%            1.99%

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

<PAGE>

<TABLE>
<S>                                <C>
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.

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

** = less than

<PAGE>

--------------------------------------------------------------------------------
   Realized Loss Detail Report - Loans Liquidated During Current Distribution

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

<TABLE>
<CAPTION>
SUMMARY                                                                LOAN GROUP
---------------------------------------------------------              -------------------------------------------------------------
<S>                                                                    <C>
Total Loan Count =   11                                                Loan Group 1    =    Pool I Group
Total Original Principal Balance =   434,558.00                        Loan Group 2    =    Pool II Group
Total Prior Principal Balance =   637,247.43
Total Realized Loss Amount =   0.00
Total Net Liquidation Proceeds =   637,247.43
---------------------------------------------------------              -------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
   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
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>      <C>            <C>            <C>              <C>         <C>              <C>            <C>
   101645109 1                46,500.00       45,604.20               -      10.250%   CA  -  79.97%           180        Nov-15-00
   101750495 1                29,382.00       98,621.79               -       7.500%   CA  -  57.70%           180        Nov-10-00
   101881126 1                 9,352.00       23,056.60               -      10.750%   CA  -  74.89%           180        Nov-16-00
   101937555 1                 2,347.00      113,925.56               -      10.750%   CA  -  61.13%           180        Jan-02-01
   102070133 1                60,000.00        1,883.34               -       6.500%   CA  -  52.07%           180        Dec-14-00
   102078706 1               117,750.00      116,679.39               -      11.000%   CA  -  80.00%           180        Dec-07-00
   102165636 1                45,600.00       44,822.09               -      10.000%   CA  -  80.00%           180        Dec-19-00
   102260668 1                91,500.00       90,327.68               -      10.250%   CA  -  80.00%           180        Jan-19-01
   102397940 1                        -       24,460.28               -       9.250%   CA  -  72.22%           180        Jan-31-01
   102107646 2                 1,510.00       28,379.94               -       9.000%   CA  -  61.80%           180        Jan-11-01
   102348513 2                30,617.00       49,486.56               -      10.125%   CA  -  39.29%           180        Jan-31-01

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


<PAGE>

--------------------------------------------------------------------------------
               Triggers, Adj. Rate Cert. and Miscellaneous Report
--------------------------------------------------------------------------------

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

    Insurer Default                                                                        No              No               No

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

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


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

<TABLE>
<CAPTION>
ADDITIONAL INFORMATION                                                                POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>               <C>            <C>
    Detail Delinq. Breakdown to Supplement pages 11-13
    Number of Mort. Loans Delinq. 90 -119 days                                              3               2                5
    Balance of Mort. Loans Delinq. 90 -119 days                                    446,773.37      126,095.24       572,868.61
    Number of Mort. Loans Delinq. 120 -149 days                                             1               4                5
    Balance of Mort. Loans Delinq. 120 -149 days                                    96,225.16      216,277.12       312,502.28
    Number of Mort. Loans Delinq. 150 -179 days                                             -               5                5
    Balance of Mort. Loans Delinq. 150 -179 days                                         0.00      227,265.00       227,265.00
    Number of Mort. Loans Delinq. 180 days or more                                          -              12               12
    Balance of Mort. Loans Delinq. 180 days or more                                      0.00      471,349.61       471,349.61
    Count of ALL Loans 180 day plus bucket                                                  5              19               24
    Balance of ALL Loans 180 day plus bucket                                     1,021,938.14      802,080.92     1,824,019.06
    Management Fee Accrued and Unpaid                                                1,248.03        2,251.97         3,500.00

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