Document:

<PAGE>

                                 Exhibit 10.1

<TABLE>
<CAPTION>
 GreenPoint Mortgage                                          SERVICING CERTIFICATE

 ===================================================================================================================================
 <S>                         <C>                                     <C>         <C>                             <C>
 Revolving Home Equity Loan  LIBOR:                                  6.71000%    Current Collection Period:      12/01/00-12/31/00
 Asset-Backed Notes          Margin A-1:                             0.30000%    P&S Agreement Date:                       12/1/99

 Series 1999-2               Class A-1  Note Rate:                   7.01000%    Original Closing Date:                   12/22/99
                             Class A-2  Note Rate:                   7.09000%    Distribution Date:                        1/16/01
                             Margin A-2:                             0.38000%    Record Date:                              1/15/01
                             Interest Period 12/15/00 thru 1/15/01:       32     Pool Factor:                           71.1973919%

                             Servicing Fee Rate:                     0.50000%    Initial Class A-1 O/C Amt:                  22.71
                             Class A-1 Premium Fee Rate:             0.18000%    Initial Class A-2 O/C Amt:                 565.15
                             Class A-2 Premium Fee Rate:             0.18000%
                                                                                 Class A-1 O/C Amt as of Pmt Date:    5,408,774.99
                             Trustee Fee:                            0.00900%    Class A-2 O/C Amt as of Pmt Date:    1,438,840.14
                             Class A-1 Act Weighted Avg Ln Rate:    12.55040%    Class A-1 Pool Factor:                 74.3088423%
                             Class A-2 Act Weighted Avg Ln Rate:    12.42979%    Class A-2 Pool Factor:                 59.7143752%

                             Total Management Fee                     500.00
    ================================================================================================================================

 BALANCES
     Beginning Class A-1 Pool Balance                                                                               156,702,566.07
     Beginning Class A-2 Pool Balance                                                                                33,535,237.78

     Beginning Class A-1 Note Balance -- CUSIP 395385AA5                                                            151,293,791.08
     Beginning Class A-2 Note Balance -- CUSIP 395385AB3                                                             32,096,397.64

     Class A-1 Overcollateralization Amount to Fill                                                                          (0.00)
     Class A-2 Overcollateralization Amount to Fill                                                                           0.00

     Ending Class A-1 Pool Balance                                                                                  149,029,189.99
     Ending Class A-2 Pool Balance                                                                                   32,711,258.41

     Ending Class A-1 Note Balance -- CUSIP 395385AA5                                                               143,620,415.00
     Ending Class A-2 Note Balance -- CUSIP 395385AB3                                                                31,272,418.27

     Additional Balances Class A-1                                                                                    2,063,261.79
     Additional Balances Class A-2                                                                                      686,098.85

     Number of all Retransferred Mortgage Loans (Current Retransfer Date)                                                        0
     Retransferred Mortgage Loan Trust Balances (Current Retransfer Date)                                                     0.00
     Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions)                                         0
     Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions)                                      0.00
     Number of all Subsequent Class A-1 HELOC Mortgage Loans (Current Date)                                                      0
     Subsequent Class A-1 HELOC Mortgage Loan Asset Balance (Current Date)                                                    0.00
     Number of all Subsequent Class A-2 Heloc Loans (Current Date)                                                               0
     Subsequent Class A-2 HELOC Loan Asset Balance (Current Date)                                                             0.00
     Number of all Subsequent HLTV Mortgage Loans (Current Date)                                                                 0
     Subsequent HLTV Mortgage Loan Asset Balance (Current Date)                                                               0.00
     Cumulative Number of ALL Subsequent Mortgage Loans                                                                          0
     Cumulative Subsequent Mortgage Loan Asset Balance                                                                        0.00
     Class A-1 Cumulative Excess of Draws Over Principal Paydown                                                              0.00
     Class A-1 Cumulative Excess of Draws Over Principal Paydown Recoup this Distribution                                     0.00
     Beginning Loan Count                                                                                                    4,375
     Ending Loan Count                                                                                                       4,196
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                             <C>
COLLECTION AMOUNTS Class A-1
    1        Aggregate of All Mortgage Collections (Gross)                                                      11,364,221.20
    2        Total Mortgage Interest Collections (Gross)                                                         1,686,173.44
             Servicing Fees (current collection period)                                                             65,292.74
             Deferred Interest Transfer  (DI)                                                                            0.00
        3a     Mortgage Principal Collections                                                                    9,678,047.76
        3b     Pre-Funded Balance                                                                                        0.00
        3c     Net Liquidation Proceeds                                                                                  0.00
    3        Total Mortgage Principal Collections                                                                9,678,047.76
             Aggregate of Transfer Deposits                                                                              0.00
             Investor Loss Amount                                                                                   58,590.11
             Aggregate Investor Loss Reduction Amount                                                               85,361.18

 COLLECTION AMOUNTS Class A-2
    1        Aggregate of All Mortgage Collections (Gross)                                                       1,860,474.53
    2        Total Mortgage Interest Collections (Gross)                                                           350,396.31
             Servicing Fees (current collection period)                                                             13,973.02
             Deferred Interest Transfer (DI)                                                                             0.00
        3a     Mortgage Principal Collections                                                                    1,510,078.22
        3b     Pre-Funded Balance                                                                                        0.00
        3c     Net Liquidation Proceeds                                                                                  0.00
    3        Total Mortgage Principal Collections                                                                1,510,078.22
             Aggregate of Transfer Deposits                                                                              0.00
             Investor Loss Amount                                                                                        0.00
             Aggregate Investor Loss Reduction Amount                                                                    0.00

 TOTAL COLLECTION AMOUNT
    1        Aggregate of All Mortgage Collections (Gross)                                                      13,224,695.73
    2        Total Mortgage Interest Collections (Gross)                                                         2,036,569.75
             Servicing Fees (current collection period)                                                             79,265.75
             Deferred Interest Transfer  (DI)                                                                            0.00
        3a     Mortgage Principal Collections                                                                   11,188,125.98
        3b     Insurance Proceeds                                                                                        0.00
        3c     Net Liquidation Proceeds                                                                                  0.00
    3        Total Mortgage Principal Collections                                                               11,188,125.98
             Aggregate of Transfer Deposits                                                                              0.00
             Investor Loss Amount                                                                                   58,590.11
             Aggregate Investor Loss Reduction Amount                                                               85,361.18

             Class A-1 Net Interest Collection                                                                   1,620,880.70
             Class A-2 Net Interest Collection                                                                     336,423.29

 DISTRIBUTION AMOUNTS Class A-1
             Class A-1 Note    Interest 8.6 (d)(iv)                                                                942,728.42
             Class A-1 Note    Unpaid Interest Shortfall (current cycle)                                                 0.00
             Class A-1 Note    Reserve Fund Amount                                                                 595,340.00
             Investor Loss Amount                                                                                   58,590.11
             Previous Investor Loss Amount                                                                               0.00
             Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                            22,694.07
             Credit Enhancer Reimbursement                                                                               0.00
             Accelerated Principal Distribution Amount                                                                   0.00
             Spread Account Deposit                                                                                      0.00
             Indenture Trustee Fee 8.6 (d)(i)                                                                        1,134.70
             Management Fee 8.6 (d)(iii)                                                                               393.40
             Payment to Servicer                                                                                         0.00
             Deferred Interest                                                                                           0.00
             Remaining Amount to Transferor                                                                              0.00
             Total Certificateholders Distribution Allocable to Interest                                         1,620,880.70
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                                                     <C>
     Maximum Principal Payment                                                                                          7,614,785.97
     Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the HELOC Pool O/C Redctin Amt)
     8.6(d)(v)                                                                                                                  0.00
     Accelerated Principal Distribution Amount                                                                                  0.00
     Loan Loss                                                                                                             58,590.11
     Class A-1 Overcollateralization Deficit 8.6 (d)(vi)                                                                        0.00
     Total Certificateholders Distribution Allocable to Principal                                                       7,673,376.08

DISTRIBUTION AMOUNTS Class A-2
     Class A-2 Note    Interest 8.6 (d)(iv)                                                                               202,278.63
     Class A-2 Note    Unpaid Interest Shortfall (current cycle)                                                                0.00
     Class A-2 Note    Reserve Fund Amount                                                                                128,982.88
     Investor Loss Amount                                                                                                       0.00
     Previous Investor Loss Amount                                                                                              0.00
     Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                                            4,814.46
     Credit Enhancer Reimbursement                                                                                              0.00
     Accelerated Principal Distribution Amount                                                                                  0.00
     Spread Account Deposit                                                                                                     0.00
     Indenture Trustee Fee 8.6 (d)(i)                                                                                         240.72
     Management Fee 8.6 (d)(iii)                                                                                              106.60
     Payment to Servicer                                                                                                        0.00
     Deferred Interest                                                                                                          0.00
     Remaining Amount to Transferor                                                                                             0.00
     Total Certificateholders Distribution Allocable to Interest                                                          336,423.29

     Maximum Principal Payment                                                                                            823,979.37
     Scheduled Principal Collection Payment ((x)the excess of Max Prin Pymt (y) the Second Pool O/C Redctin Amt)
     8.6(d)(v)                                                                                                                  0.00
     Accelerated Principal Distribution Amount                                                                                  0.00
     Loan Loss                                                                                                                  0.00
     Class A-2 Overcollateralization Deficit 8.6 (d)(vi)                                                                        0.00
     Total Certificateholders Distribution Allocable to Principal                                                         823,979.37

TOTAL DISTRIBUTION AMOUNT
     Class A Note    Interest 8.6 (d)(iv)                                                                               1,145,007.05
     Class A Note    Unpaid Interest Shortfall (current cycle) 5.01(i)                                                          0.00
     Class A Note    Reserve Fund Amount                                                                                  724,322.88
     Investor Loss Amount 5.01(iii)                                                                                        58,590.11
     Previous Investor Loss Amount 5.01(iv)                                                                                     0.00
     Monthly Credit Enhancer Premium 8.6 (d)(ii)                                                                           27,508.53
     Credit Enhancer Reimbursement 5.01(vi)                                                                                     0.00
     Accelerated Principal Distribution Amount 5.01(vii)                                                                        0.00
     Spread Account Deposit 5.01(viii)                                                                                          0.00
     Indenture Trustee Fee 8.6 (d)(i)                                                                                       1,375.43
     Management Fee 8.6 (d)(iii)                                                                                              500.00
     Payment to Servicer per Section 7.03 5.01 (x)                                                                              0.00
     Deferred Interest 5.01 (xi)                                                                                                0.00
     Remaining Amount to Transferor 5.01 (xii)                                                                                  0.00
     Total Certificateholders Distribution Allocable to Interest                                                        1,957,304.00

     Maximum Principal Payment                                                                                          8,438,765.34
     Scheduled Principal Collection Payment                                                                                     0.00
     Accelerated Principal Distribution Amount                                                                                  0.00
     Loan Loss                                                                                                             58,590.11
     Overcollateralization Deficit 8.6 (d)(vi)                                                                                  0.00
     Total Certificateholders Distribution Allocable to Principal                                                       8,497,355.45
</TABLE>
<PAGE>

<TABLE>
LOSSES/RETRANSFERS
<S>                                                                                                                       <C>
     Unpaid Class A-1 Note    Interest Shortfall Due (From Previous Distributions)                                              0.00
     Unpaid Class A-2 Note    Interest Shortfall Due (From Previous Distributions)                                              0.00
     Interest Earned on Shortfall @ applicable Certificate Rate                                                                 0.00
     Investor Loss Reduction Amount (From Previous Distributions)                                                               0.00

DISTRIBUTION TO CERTIFICATEHOLDERS (PER CERTIFICATE WITH A $1,000 DENOMINATION)
Class A-1
     Total Class A-1 Note Distribution Amount Allocable to Interest                                                        4.8776532
     Interest Distribution Amount                                                                                          4.8776532
     Unpaid Note Interest Shortfall Included in Current Distribution                                                       0.0000000
     Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                                       0.0000000

     Total Class A-1 Note Distribution Amount Allocable to Principal                                                      39.7018553
     Maximum Principal Payment                                                                                            39.3987115
     Scheduled Principal Collections Payment                                                                               0.0000000
     Loan Loss                                                                                                             0.3031438
     Accelerated Principal Distribution Amount                                                                             0.0000000

Class A-2
     Total Class A-2 Note Distribution Amount Allocable to Interest                                                        3.8624906
     Interest Distribution Amount                                                                                          3.8624906
     Unpaid Note Interest Shortfall Included in Current Distribution                                                       0.0000000
     Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                                       0.0000000

     Total Class A-2 Note Distribution Amount Allocable to Principal                                                      15.7338050
     Maximum Principal Payment                                                                                            15.7338050
     Scheduled Principal Collections Payment                                                                               0.0000000
     Loan Loss                                                                                                             0.0000000
     Accelerated Principal Distribution Amount                                                                             0.0000000

     Total Interest Amount Distributed to Class A Certificateholder                                                        8.7401438
     Total Principal Amount Distributed to Class A Certificateholder                                                      55.4356603

     Credit Enhancement Draw Amount                                                                                             0.00

DELINQUENCIES/FORECLOSURES

Class A-1
     Number of Mortgages 30 to 59 Days Delinquent                                                                                 82
     Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                                 3,287,784.58
     Number of Mortgages 60 to 89 Days Delinquent                                                                                 18
     Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                                   621,884.51
     Number of Mortgages 90 to 179 Days Delinquent                                                                                 5
     Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                                  250,863.91
     Number of Mortgages 180 or more Days Delinquent                                                                               9
     Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                                370,530.43
     Number of Mortgage Loans in Foreclosure                                                                                      16
     Aggregate Principal Balances of Mortgage Loans in Foreclosure                                                        739,461.01
     Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                                           0.00
     Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                                  0.00
     Aggregate Trust Balances of any Liquidated Loans in the Current Month                                                      0.00
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                                              <C>
Class A-2
          Number of Mortgages 30 to 59 Days Delinquent                                                                     3
          Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                      200,613.55
          Number of Mortgages 60 to 89 Days Delinquent                                                                     1
          Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                      169,847.62
          Number of Mortgages 90 to 179 Days Delinquent                                                                    1
          Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                     124,990.84
          Number of Mortgages 180 or more Days Delinquent                                                                  1
          Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                   196,058.94
          Number of Mortgage Loans in Foreclosure                                                                          2
          Aggregate Principal Balances of Mortgage Loans in Foreclosure                                           418,095.61
          Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                              0.00
          Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                     0.00
          Aggregate Trust Balances of any Liquidated Loans in the Current Month                                         0.00

TOTAL DELINQUENCIES/FORECLOSURES

          Number of Mortgages 30 to 59 Days Delinquent                                                                    85
          Aggregate Principal Balances of Mortgages 30 to 59 Days Delinquent                                    3,488,398.13
          Number of Mortgages 60 to 89 Days Delinquent                                                                    19
          Aggregate Principal Balances of Mortgages 60 to 89 Days Delinquent                                      791,732.13
          Number of Mortgages 90 to 179 Days Delinquent                                                                    6
          Aggregate Principal Balances of Mortgages 90 to 179 Days Delinquent                                     375,854.75
          Number of Mortgages 180 or more Days Delinquent                                                                 10
          Aggregate Principal Balances of Mortgages 180 or more Days Delinquent                                   566,589.37
          Number of Mortgage Loans in Foreclosure                                                                         18
          Aggregate Principal Balances of Mortgage Loans in Foreclosure                                         1,157,556.62
          Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                              0.00
          Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                                     0.00
          Aggregate Trust Balances of any Liquidated Loans in the Current Month                                         0.00

============================================================================================================================

RESERVE FUND ACTIVITY

          Reserve Fund  Beginning Balance                                                                               0.00
          Reserve Fund  Deposit                                                                                   724,322.88
          Reserve Fund Earnings                                                                                     1,563.21
          Reserve Bal Subtotal                                                                                    725,886.09
          Reserve Fund Reduction Amt                                                                             (725,886.09)
          Reserve Fund Balance                                                                                          0.00

PRE-FUNDED ACCOUNT ACTIVITY

          Beginning Balance Pre-Funded Account                                                                          0.00
          Remaining Amount for Distribution to Classes                                                                  0.00
          Withdrawal for Subsequent Loan Purchase:                                                                      0.00

          Ending Balance Pre-Funded Account                                                                             0.00

          All Computations reflected in this Servicer Certificate were
          made in conformity with the Pooling and Servicing Agreement.

          The Attached Servicing Certificate is true and
          correct in all material respects.

          _____________________________________________________________
          A Servicing Officer    Teri Martine
</TABLE>
<PAGE>

<TABLE>
------------------------------------------------------------------------------------------------------------------------------------
 GREENPOINT MORTGAGE                                                  STATEMENT TO NOTEHOLDERS
===================================================================================================================================

 Revolving Home Equity Loan             LIBOR:                             6.71000%   Current Collection Period:  12/01/00-12/31/00
 Asset-Backed Notes                     Margin:                            0.30000%   P&S Agreement Date:                   12/1/99

 Series 1999-2                          Class A-1  Note Rate:              7.01000%   Original Closing Date:               12/22/99
                                        Class A-2  Note Rate:              7.09000%   Distribution Date:                    1/16/01
                                                                                      Record Date:                          1/15/01
                                        Interest Period 12/15/00 thru 1/15      32    Pool Factor:                       71.1973919%

===================================================================================================================================
<S>                                                                                                            <C>
               BALANCES

          Beginning HELOC Pool Balance                                                                          156,702,566.07
          Beginning Second Lien Pool Balance                                                                     33,535,237.78

          Beginning Class A-1 Note Balance -- CUSIP 395385AA5                                                   151,293,791.08
          Beginning Class A-2 Note Balance -- CUSIP 395385AB3                                                    32,096,397.64

          Ending Class A-1 Pool Balance                                                                         149,029,189.99
          Ending Class A-2 Pool Balance                                                                          32,711,258.41

          Ending Class A-1 Note Balance -- CUSIP                                                                143,620,415.00
          Ending Class A-2 Note Balance -- CUSIP                                                                 31,272,418.27

          Additional Balances  Class A-1                                                                          2,063,261.79
          Additional Balances  Class A-2                                                                            686,098.85

          Number of all Retransferred Mortgage Loans (Current Retransfer Date)                                               0
          Retransferred Mortgage Loan Trust Balances (Current Retransfer Date)                                            0.00
          Cumulative Number of all Retransferred Mortgage Loans (From Previous Distributions)                                0
          Cumulative Retransferred Mortgage Loan Trust Balances (From Previous Distributions)                             0.00
          Number of all Subsequent HELOC Mortgage Loans (Current Date)                                                       0
          Subsequent HELOC Mortgage Loan Asset Balance (Current Date)                                                     0.00
          Number of all Subsequent Second Lien Mortgage Loans (Current Date)                                                 0
          Subsequent Second Lien Mortgage Loan Asset Balance (Current Date)                                               0.00
          Number of all Subsequent HLTV Mortgage Loans (Current Date)                                                        0
          Subsequent HLTV Mortgage Loan Asset Balance (Current Date)                                                      0.00
          Cumulative Number of ALL Subsequent Mortgage Loans                                                                 0
          Cumulative Subsequent Mortgage Loan Asset Balance                                                               0.00
          Class A-1 Cumulative Excess of Draws Over Principal Paydown                                                     0.00

          Beginning Loan Count                                                                                           4,375
          Ending Loan Count                                                                                              4,196

COLLECTION AMOUNTS Class A-1
          Aggregate of All Mortgage Collections                                                                  11,298,928.46
          Total Mortgage Interest Collections                                                                     1,686,173.44
          Servicing Fees (current collection period)                                                                (65,292.74)
            Mortgage Principal Collections                                                                        9,678,047.76
            Pre-Funded Balance                                                                                            0.00
                                                                                                                          0.00

          Total Mortgage Principal Collections                                                                    9,678,047.76
</TABLE>
<PAGE>

COLLECTION AMOUNTS Class A-2
     Aggregate of All Mortgage Collections                       1,846,501.51
     Total Mortgage Interest Collections                           350,396.31
     Servicing Fees (current collection period)                    (13,973.02)
         Mortgage Principal Collections                          1,510,078.22
         Pre-Funded Balance                                              0.00
                                                                         0.00

     Total Mortgage Principal Collections                        1,510,078.22

TOTAL COLLECTION AMOUNT
     Aggregate of All Mortgage Collections                      13,224,695.73
     Total Mortgage Interest Collections                         2,036,569.75
         Mortgage Principal Collections                         11,188,125.98
         Pre-Funded Balance                                              0.00

     Total Mortgage Principal Collections                       11,188,125.98

DISTRIBUTION AMOUNTS Class A-1
     Class A-1 Note    Interest                                    942,728.42
     Class A-1 Note    Unpaid Interest Shortfall
                       (current cycle)                                   0.00
     Class A-1 Note    Reserve Fund Amount                         595,340.00

     Maximum Principal Payment                                   7,614,785.97
     Scheduled Principal Collection                                      0.00
     Accelerated Principal Distribution Amount                           0.00
     Loan Loss                                                      58,590.11
     Class A-1 Overcollateralization Deficit                             0.00
     Total Certificateholders Distribution Allocable to
       Principal                                                 7,673,376.08

DISTRIBUTION AMOUNTS Class A-2
     Class A-2 Note    Interest                                    202,278.63
     Class A-2 Note    Unpaid Interest Shortfall (current cycle)         0.00
     Class A-2 Note    Reserve Fund Amount                         128,982.88

     Maximum Principal Payment                                     823,979.37
     Scheduled Principal Collection                                      0.00
     Accelerated Principal Distribution Amount                           0.00
     Loan Loss                                                           0.00
     Class A-2 Overcollateralization Deficit                             0.00
     Total Certificateholders Distribution Allocable to
         Principal                                                 823,979.37

TOTAL DISTRIBUTION AMOUNT
     Class A Note Interest                                       1,145,007.05
     Class A Note Unpaid Interest Shortfall (current cycle)              0.00
     Class A Note  Reserve Fund Amount                             724,322.88

     Maximum Principal Payment                                   8,438,765.34
     Scheduled Principal Collection Payment                              0.00
     Accelerated Principal Distribution Amount                           0.00
     Overcollateralization Deficit                                       0.00
     Total Certificateholders Distribution Allocable to
         Principal                                               8,438,765.34
<PAGE>

<TABLE>
LOSSES/RETRANSFERS
<S>                                                                                                 <C>
     Unpaid Class A-1 Note    Interest Shortfall Due (From Previous Distributions)                          0.00
     Unpaid Class A-2 Note    Interest Shortfall Due (From Previous Distributions)                          0.00
     Interest Earned on Shortfall @ applicable Certificate Rate                                             0.00
     Investor Loss Reduction Amount (From Previous Distributions)                                           0.00

DISTRIBUTION TO CERTIFICATEHOLDERS  (PER CERTIFICATE WITH A $1,000 DENOMINATION)

Class A-1
     Total Class A-1 Note Distribution Amount Allocable to Interest                                    4.8776532
     Interest Distribution Amount                                                                      4.8776532
     Unpaid Note Interest Shortfall Included in Current Distribution                                   0.0000000
     Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                   0.0000000

     Total Class A-1 Note Distribution Amount Allocable to Principal                                  39.7018553
     Maximum Principal Payment                                                                        39.3987115
     Scheduled Principal Collections Payment                                                           0.0000000
     Loan Loss                                                                                         0.3031438
     Accelerated Principal Distribution Amount                                                         0.0000000

Class A-2
     Total Class A-2 Note Distribution Amount Allocable to Interest                                    3.8624906
     Interest Distribution Amount                                                                      3.8624906
     Unpaid Note Interest Shortfall Included in Current Distribution                                   0.0000000
     Unpaid Note Interest Shortfall Remaining after Current Distribution (Carryover)                   0.0000000

     Total Class A-2 Note Distribution Amount Allocable to Principal                                  15.7338050
     Maximum Principal Payment                                                                        15.7338050
     Scheduled Principal Collections Payment                                                           0.0000000
     Loan Loss                                                                                         0.0000000
     Accelerated Principal Distribution Amount                                                         0.0000000

     Total Interest Amount Distributed to Class A Certificateholder                                    8.7401438
     Total Principal Amount Distributed to Class A Certificateholder                                  55.4356603

     Credit Enhancement Draw Amount                                                                         0.00

DELINQUENCIES/FORECLOSURES
Class A-1

     Number of Mortgages 31 to 60 Days Delinquent                                                             82
     Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent                             3,287,784.58
     Number of Mortgages 61 to 90 Days Delinquent                                                             18
     Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent                               621,884.51
     Number of Mortgages 91 to 180 or more Days Delinquent                                                     5
     Aggregate Principal Balances of Mortgages 91 to 180 or
     more Days Delinquent                                                                             250,863.91
     Number of Mortgages 181 or more Days Delinquent                                                           9
     Aggregate Principal Balances of Mortgages 181 or more Days Delinquent                            370,530.43
     Number of Mortgage Loans in Foreclosure                                                                  16
     Aggregate Principal Balances of Mortgage Loans in Foreclosure                                    739,461.01
     Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                       0.00
     Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                              0.00
     Aggregate Trust Balances of any Liquidated Loans in the Current Month                                  0.00
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                             <C>
Class A-2
     Number of Mortgages 31 to 60 Days Delinquent                                                              3
     Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent                               200,613.55
     Number of Mortgages 61 to 90 Days Delinquent                                                              1
     Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent                               169,847.62
     Number of Mortgages 91 to 180 or more Days Delinquent                                                     1
     Aggregate Principal Balances of Mortgages 91 to 180 or
     more Days Delinquent                                                                             124,990.84
     Number of Mortgages 181 or more Days Delinquent                                                           1
     Aggregate Principal Balances of Mortgages 181 or more Days Delinquent                            196,058.94
     Number of Mortgage Loans in Foreclosure                                                                   2
     Aggregate Principal Balances of Mortgage Loans in Foreclosure                                    418,095.61
     Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                       0.00
     Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                              0.00
     Aggregate Trust Balances of any Liquidated Loans in the Current Month                                  0.00

TOTAL DELINQUENCIES/FORECLOSURES
     Number of Mortgages 31 to 60 Days Delinquent                                                             85
     Aggregate Principal Balances of Mortgages 31 to 60 Days Delinquent                             3,488,398.13
     Number of Mortgages 61 to 90 Days Delinquent                                                             19
     Aggregate Principal Balances of Mortgages 61 to 90 Days Delinquent                               791,732.13
     Number of Mortgages 91 to 180 or more Days Delinquent                                                     6
     Aggregate Principal Balances of Mortgages 91 to 180 or
     more Days Delinquent                                                                             375,854.75
     Number of Mortgages 181 or more Days Delinquent                                                          10
     Aggregate Principal Balances of Mortgages 181 or more Days Delinquent                            566,589.37
     Number of Mortgage Loans in Foreclosure                                                                  18
     Aggregate Principal Balances of Mortgage Loans in Foreclosure                                  1,157,556.62
     Principal Balance of Real Estate Acquired Through Foreclosure or Grant of a Deed                       0.00
     Book Value of Real Estate Acquired Through Foreclosure or Grant of a Deed                              0.00
     Aggregate Trust Balances of any Liquidated Loans in the Current Month                                  0.00

======================================================================================================================

     Class A-1 Note Rate For Next Distribution           LIBOR           TBD                          #VALUE!

RESERVE FUND ACTIVITY

     Reserve Fund  Beginning Balance                                                                        0.00
     Reserve Fund  Deposit                                                                            724,322.88
     Reserve Fund Earnings                                                                              1,563.21
     Reserve Bal Subtotal                                                                             725,886.09
     Reserve Fund Reduction Amt                                                                      (725,886.09)
     Reserve Fund Balance                                                                                   0.00
</TABLE><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:            May 31, 2000
     Certificate Insurer:    AMBAC Assurance Corporation                            Closing Date:            June 29, 2000
     Servicer(s):            GreenPoint Mortgage - Master Servicer                  First Payment Date:      July 17, 2000

     Underwriter(s):         Greenwich Capital Markets, Inc.--Underwriter          Distribution Date:       January 16, 2001
                                                                                    Record Date:             January 15, 2001
                                                                                                             December 29, 2000
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                   GreenPoint Home Equity Loan Trust 2000-1
                   Home Equity Loan Asset-Backed Securities
                                 Series 2000-1
         Certificate Payment Report for January 16, 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   244,172,000.00  217,709,953.11   1,323,676.51   6,749,258.85   8,072,935.36        -           -  210,960,694.26

A-2    FLT,STEP   108,598,000.00   89,206,603.45     551,891.52   2,437,526.01   2,989,417.53        -           -   86,769,077.44
 R                             -               -              -              -              -        -           -               -

----------------------------------------------------------------------------------------------------------------------------------
Total             352,770,000.00  306,916,556.56   1,875,568.03   9,186,784.86  11,062,352.89        -           -  297,729,771.70
----------------------------------------------------------------------------------------------------------------------------------

<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                      A-Act/360   3133TPCH0    244,172,000.00     891.625383     5.421082   27.641412     33.062494  863.983971
  A-2                      A-Act/360   395385AC1    108,598,000.00     821.438732     5.081968   22.445404     27.527372  798.993328
   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  244,172,000.00  8,765,108.09  31,544,757.89  1,666,547.85  33,211,305.74  41,976,413.83        -           -  210,960,694.26
  A-2  108,598,000.00  3,765,786.80  21,203,348.31    625,574.25  21,828,922.56  25,594,709.36        -           -   86,769,077.44
   R                -             -              -             -              -              -        -           -               -
-----------------------------------------------------------------------------------------------------------------------------------
 Total 352,770,000.00 12,530,894.89  52,748,106.20  2,292,122.10  55,040,228.30  67,571,123.19        -           -  297,729,771.70
-----------------------------------------------------------------------------------------------------------------------------------

<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     6.84000%  217,709,953.11    1,323,676.51           -              -            -    1,323,676.51  1,323,676.51        -
  A-2     6.96000%   89,206,603.45      551,891.52           -              -            -      551,891.52     51,891.52        -
   R                             -               -           -              -            -               -             -        -

-----------------------------------------------------------------------------------------------------------------------------------
 Total              306,916,556.56    1,875,568.03           -              -            -    1,875,568.03  1,875,568.03        -
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                        Collection Account Report
----------------------------------------------------------------------------------------------------------------------

SUMMARY                                                                    POOL II        POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>             <C>               <C>
  Net Principal Collections                                             2,156,885.96    6,010,174.47      8,167,060.43

  TOTAL PRINCIPAL                                                       2,156,885.96    6,010,174.47      8,167,060.43

  Interest Collections                                                    846,255.93    2,105,328.30      2,951,584.23
  Interest Fees                                                           (13,724.36)     (42,567.41)       (56,291.77)

  TOTAL INTEREST                                                          832,531.57    2,062,760.89      2,895,292.46

  TOTAL AVAILABLE FUNDS                                                 2,989,417.53    8,072,935.36     11,062,352.89

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

<CAPTION>
PRINCIPAL - COLLECTIONS                                                    POOL II        POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>             <C>              <C>
  Principal Collections                                                 4,393,698.11    8,816,507.24     13,210,205.35
  Repurchases/Substitutions                                                     0.00            0.00              0.00
  Liquidations                                                                  0.00       16,128.31         16,128.31
  Insurance Principal                                                           0.00            0.00              0.00
  Liquidation Loss Amounts                                                      0.00      (16,128.31)       (16,128.31)
  Additional Balances                                                  (2,236,812.15)  (2,806,332.77)    (5,043,144.92)

  TOTAL PRINCIPAL COLLECTED                                             2,156,885.96    6,010,174.47      8,167,060.43

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

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

<CAPTION>
PRINCIPAL - OTHER ACCOUNTS                                                 POOL II        POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------
                                        SPACE INTENTIONALLY LEFT BLANK
<S>                                     <C>                                <C>            <C>               <C>
----------------------------------------------------------------------------------------------------------------------

<CAPTION>
INTEREST - COLLECTIONS                                                     POOL II        POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------
<S>                                                                       <C>           <C>               <C>
  Interest Collections                                                    883,890.63    2,197,082.98      3,080,973.61
  Repurchases/Substitutions                                                     0.00            0.00              0.00
  Liquidations                                                                  0.00          181.44            181.44
  Insurance Interest                                                            0.00            0.00              0.00
  Other Additional Interest                                                     0.00            0.00              0.00
  Current Servicing Fee                                                   (37,634.70)     (91,936.12)      (129,570.82)

  TOTAL INTEREST                                                          846,255.93    2,105,328.30      2,951,584.23

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

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

<CAPTION>
INTEREST - OTHER ACCOUNTS                                                  POOL II        POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------
                                        SPACE INTENTIONALLY LEFT BLANK
<S>                                     <C>                                <C>            <C>               <C>
--------------------------------------------------------------------------------------------------------------------

<CAPTION>
INTEREST - FEES                                                            POOL II        POOL I            TOTAL
--------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>             <C>               <C>
  Trustee Fee                                                               715.06        1,746.79          2,461.85
  Certificate Insurer Premium                                            13,009.30       31,749.37         44,758.67
  Guarantee Fee                                                               0.00        9,071.25          9,071.25
  Management Fee                                                              0.00            0.00              0.00

  TOTAL INTEREST  FEES                                                   13,724.36       42,567.41         56,291.77

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

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

ACCOUNTS                                                                              POOL II          POOL I            TOTAL
-------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                   <C>              <C>               <C>
  Beginning Reserve Fund Balance                                                         0.00            0.00             0.00
  Curr Period Amounts Dep to Res Fund                                                    0.00            0.00             0.00
  Curr Withdrawal from Reserve Fund                                                      0.00            0.00             0.00
  Reserve Fund Balance                                                                   0.00            0.00             0.00

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

<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>
  Pool Delinquency Rate                                                                1.7604%         0.7547%
  Rolling Six-month Pool Delinquency Rate                                              0.9146%         0.4820%

  Prior Overcollateralization Amount                                             1,116,687.83    2,936,735.65     4,053,423.48
  Specified Overcollateralization Amount                                         2,425,281.26    5,452,977.96     7,878,259.22
  Overcollateralization Amount                                                   1,397,327.88    3,659,691.72     5,057,019.60
  Overcollateralization Deficiency Amount                                        1,027,953.38    1,793,286.24     2,821,239.62

  Overcollateralization Deficit                                                          0.00            0.00             0.00
  Overcollateralization Reduction Amount                                                 0.00            0.00             0.00
  Step-Up Overcollateralization Amount                                           5,389,513.91   12,117,728.81    17,507,242.71

  Current Accelerated Principal Payment                                            280,640.05      739,084.38     1,019,724.43
  Cumulative Accelerated Principal Payment                                       2,205,049.76    5,493,243.88     7,698,293.64

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

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

COLLATERAL                                                                     POOL II          POOL I             TOTAL
-------------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>             <C>               <C>
     Loan Count:
   Original                                                                       1258            5996              7254
   Prior                                                                         1,055           5,331             6,386
   Prefunding                                                                        -               -                 -
   Scheduled Paid Offs                                                               -               -                 -
   Full Voluntary Prepayments                                                      (31)           (142)             (173)
   Repurchases                                                                       -               -                 -
   Liquidations                                                                      -              (1)               (1)
-------------------------------------------------------------------------------------------------------------------------
   Current                                                                       1,024           5,188             6,212

   Principal Balance:
   Original                                                             107,790,278.12  242,354,576.15    350,144,854.27
   Prior                                                                 90,323,291.28  220,646,688.76    310,969,980.04
   Prefunding                                                                        -               -                 -
   Scheduled Principal                                                      (53,998.55)    (146,955.85)      (200,954.40)
   Partial and Full Voluntary Prepayments                                (4,339,699.56)  (8,669,551.39)   (13,009,250.95)
   Repurchases                                                                       -               -                 -
-------------------------------------------------------------------------------------------------------------------------
   Liquidations                                                                      -      (16,128.31)       (16,128.31)
   Current                                                               88,166,405.32  214,620,385.98    302,786,791.30

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

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

<CAPTION>
CHARACTERISTICS                                                                POOL II          POOL I             TOTAL
-------------------------------------------------------------------------------------------------------------------------
<S>                                                                          <C>             <C>               <C>
  Weighted Average Coupon Original                                            9.377874%       9.394264%         9.389218%
  Weighted Average Coupon Prior                                              12.046900%      12.100360%        12.084866%
  Weighted Average Coupon Current                                            12.020190%      12.078330%        12.061443%
-------------------------------------------------------------------------------------------------------------------------
  Weighted Average Months to Maturity Original                                     200             204               203
  Weighted Average Months to Maturity Prior                                        195             199               198
  Weighted Average Months to Maturity Current                                      195             199               198
-------------------------------------------------------------------------------------------------------------------------
  Weighted Avg Remaining Amortization Term Original                                208             205               206
  Weighted Avg Remaining Amortization Term Prior                                   203             201               201
  Weighted Avg Remaining Amortization Term Current                                 202             200               201
-------------------------------------------------------------------------------------------------------------------------
  Weighted Average Seasoning Original                                             2.71            2.76              2.74
  Weighted Average Seasoning Prior                                                7.67            7.72              7.71
  Weighted Average Seasoning Current                                              8.65            8.70              8.68

-------------------------------------------------------------------------------------------------------------------------
</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                                                   2.380%          2.530%
  Weighted Average Margin Prior                                                      2.364%          2.458%
  Weighted Average Margin Current                                                    2.357%          2.447%
---------------------------------------------------------------------------------------------------------------------------
  Weighted Average Max Rate Original                                                17.181%         17.075%
  Weighted Average Max Rate Prior                                                   17.153%         17.077%
  Weighted Average Max Rate Current                                                 17.144%         17.072%
---------------------------------------------------------------------------------------------------------------------------
  Weighted Average Min Rate Original                                                 3.686%          3.918%
  Weighted Average Min Rate Prior                                                    3.721%          3.840%
  Weighted Average Min Rate Current                                                  3.731%          3.838%
---------------------------------------------------------------------------------------------------------------------------
  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.

<CAPTION>

SERVICING FEES / ADVANCES                                                          POOL II          POOL I           TOTAL
---------------------------------------------------------------------------------------------------------------------------
<S>                                                                              <C>             <C>            <C>
  TOTAL SERVICING FEE                                                            37,634.70       91,936.12      129,570.82

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

<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                                  POOL II          POOL I           TOTAL
---------------------------------------------------------------------------------------------------------------------------
                                               SPACE INTENTIONALLY LEFT BLANK
<S>                                            <C>                                 <C>              <C>              <C>
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

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

                                                  CURRENT          1 PAYMENT       2  PAYMTS      3+  PAYMTS             TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                            <C>              <C>               <C>           <C>               <C>
DELINQUENT     Balance                                          3,559,065.89      872,866.82      117,443.17      4,549,375.88
               % Balance                                                1.18%           0.29%           0.04%             1.50%
               # Loans                                                    69              15               4                88
               % # Loans                                                1.11%           0.24%           0.06%             1.42%
----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE    Balance                                  -                  -               -    2,037,057.49      2,037,057.49
               % Balance                             0.00%              0.00%           0.00%           0.67%             0.67%
               # Loans                                  -                  -               -              25                25
               % # Loans                             0.00%              0.00%           0.00%           0.40%             0.40%
----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY     Balance                         259,167.00          68,605.88               -      144,407.35        472,180.23
               % Balance                             0.09%              0.02%           0.00%           0.05%             0.16%
               # Loans                                  8                  2               -               3                13
               % # Loans                             0.13%              0.03%           0.00%           0.05%             0.21%
----------------------------------------------------------------------------------------------------------------------------------
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                         259,167.00       3,627,671.77      872,866.82    2,298,908.01      7,058,613.60
               % Balance                             0.09%              1.20%           0.29%           0.76%             2.33%
               # Loans                                  8                 71              15              32               126
               % # Loans                             0.13%              1.14%           0.24%           0.52%             2.03%
----------------------------------------------------------------------------------------------------------------------------------
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>
DELINQUENT     Balance                                          2,360,637.80      501,113.47      117,443.17      2,979,194.44
               % Balance                                                1.10%           0.23%           0.05%             1.39%
               # Loans                                                    59              12               4                75
               % # Loans                                                1.14%           0.23%           0.08%             1.45%
----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE    Balance                                  -                  -               -      856,749.16        856,749.16
               % Balance                             0.00%              0.00%           0.00%           0.40%             0.40%
               # Loans                                  -                  -               -              18                18
               % # Loans                             0.00%              0.00%           0.00%           0.35%             0.35%
----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY     Balance                         249,240.32          68,605.88               -      144,407.35        462,253.55
               % Balance                             0.12%              0.03%           0.00%           0.07%             0.22%
               # Loans                                  7                  2               -               3                12
               % # Loans                             0.13%              0.04%           0.00%           0.06%             0.23%
----------------------------------------------------------------------------------------------------------------------------------
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                         249,240.32       2,429,243.68      501,113.47    1,118,599.68      4,298,197.15
               % Balance                             0.12%              1.13%           0.23%           0.52%             2.00%
               # Loans                                  7                 61              12              25               105
               % # Loans                             0.13%              1.18%           0.23%           0.48%             2.02%
----------------------------------------------------------------------------------------------------------------------------------
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                                              1,198,428.09       371,753.35               -      1,570,181.44
               % Balance                                                    1.36%            0.42%           0.00%             1.78%
               # Loans                                                        10                3               -                13
               % # Loans                                                    0.98%            0.29%           0.00%             1.27%
-----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE    Balance                                      -                  -                -    1,180,308.33      1,180,308.33
               % Balance                                 0.00%              0.00%            0.00%           1.34%             1.34%
               # Loans                                      -                  -                -               7                 7
               % # Loans                                 0.00%              0.00%            0.00%           0.68%             0.68%
-----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY     Balance                               9,926.68                  -                -               -          9,926.68
               % Balance                                 0.01%              0.00%            0.00%           0.00%             0.01%
               # Loans                                      1                  -                -               -                 1
               % # Loans                                 0.10%              0.00%            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                               9,926.68       1,198,428.09       371,753.35    1,180,308.33      2,760,416.45
               % Balance                                 0.01%              1.36%            0.42%           1.34%             3.13%
               # Loans                                      1                 10                3               7                21
               % # Loans                                 0.10%              0.98%            0.29%           0.68%             2.05%
-----------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>
<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>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
                                             Prepayment Report - Voluntary Prepayments
------------------------------------------------------------------------------------------------------------------------------

VOLUNTARY PREPAYMENTS                                                         POOL II             POOL I                TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                     <C>                <C>                  <C>
  Current
  Number of Paid in Full Loans                                                     31                142                  173
  Number of Repurchased Loans                                                       -                  -                    -
------------------------------------------------------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                            31                142                  173

  Paid in Full Balance                                                   3,142,264.07       6,858,200.24        10,000,464.31
  Repurchased Loans Balance                                                         -                  -                    -
  Curtailments Amount                                                    1,197,435.49       1,811,351.15         3,008,786.64
------------------------------------------------------------------------------------------------------------------------------
  Total Prepayment Amount                                                4,339,699.56       8,669,551.39        13,009,250.95

  Cumulative
  Number of Paid in Full Loans                                                    236                808                1,044
  Number of Repurchased Loans                                                       -                  -                    -
------------------------------------------------------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                           236                808                1,044

  Paid in Full Balance                                                  24,545,033.37      39,254,499.52        63,799,532.89
  Repurchased Loans Balance                                                         -                  -                    -
  Curtailments Amount                                                   14,355,551.38      18,389,101.02        32,744,652.40
------------------------------------------------------------------------------------------------------------------------------
  Total Prepayment Amount                                               38,900,584.75      57,643,600.54        96,544,185.29

                                           SPACE INTENTIONALLY LEFT BLANK

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<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                    POOL II             POOL I                TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                                                           <C>                <C>                  <C>
  SMM                                                                            4.81%              3.93%                4.19%
  3 Months Avg SMM                                                               4.63%              3.76%                4.01%
  12 Months Avg SMM
  Avg SMM Since Cut-off                                                          5.60%              3.54%                4.16%

  CPR                                                                           44.64%             38.20%               40.14%
  3 Months Avg CPR                                                              43.37%             36.84%               38.80%
  12 Months Avg CPR
  Avg CPR Since Cut-off                                                         49.91%             35.12%               39.92%

  PSA                                                                         2580.85%           2195.91%             2311.13%
  3 Months Avg  PSA Approximation                                             2828.56%           2387.08%             2519.08%
  12 Months Avg PSA Approximation
  Avg PSA Since Cut-off Approximation                                         4379.12%           3064.31%             3488.32%

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</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                                                                               -           1          1
  Collateral Realized Loss/(Gain) Amount                                                                   -   16,128.31  16,128.31
  Net Liquidation Proceeds                                                                                 -           -          -

  Cumulative
  Number of Loans Liquidated                                                                               -           1          1
  Collateral Realized Loss/(Gain) Amount                                                                   -   16,128.31  16,128.31
  Net Liquidation Proceeds                                                                                 -           -          -

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

  Cumulative Losses as % of Original Balance                                                          0.0000%     0.0067%    0.0046%

  Cumulative Losses as % of Current Balance                                                           0.0000%     0.0075%    0.0053%

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

<CAPTION>
DEFAULT SPEEDS                                                                                       POOL II      POOL I      TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                                  <C>          <C>        <C>
  MDR                                                                                                   0.00%       0.01%      0.01%
  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%       0.09%      0.06%
  3 Months Avg CDR                                                                                      0.00%       0.03%      0.02%
  12 Months Avg CDR
  Avg CDR Since Cut-off                                                                                 0.00%       0.01%      0.01%

  SDA                                                                                                   0.00%       0.50%      0.36%
  3 Months Avg SDA Approximation                                                                        0.00%       0.19%      0.13%
  12 Months Avg SDA Approximation
  Avg SDA Since Cut-off Approximation                                                                   0.00%       0.11%      0.08%

  Loss Severity Approximation for Current Period                                                                  100.00%    100.00%
  3 Months Avg Loss Severity Approximation                                                                        100.00%    100.00%
  12 Months Avg Loss Severity Approximation
  Avg Loss Severity Approximation Since Cut-off                                                                   100.00%    100.00%

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

SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                ----------------------------------------------------------
<S>                                                                      <C>
  Total Loan Count =   1                                                 Loan Group 1    =    Pool I Group
  Total Original Principal Balance =   16,500.00                         Loan Group 2    =    Pool II Group
  Total Prior Principal Balance =  16,128.31
  Total Realized Loss Amount =  16,128.31
  Total Net Liquidation Proceeds =   0.00
---------------------------------------------------------                ----------------------------------------------------------

<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>
  100283720 1              16,500.00       16,128.31       16,128.31       13.500%      KS  -  95.00%        180        Dec-22-99
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<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

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

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

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

<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                                                      -            2                2
  Balance of Mort. Loans Delinq. 90 -119 days                                                  0.00    36,550.17        36,550.17
  Number of Mort. Loans Delinq. 120 -149 days                                                     -            2                2
  Balance of Mort. Loans Delinq. 120 -149 days                                                 0.00    80,893.00        80,893.00
  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

  Management Fee Accrued and Unpaid                                                        1,077.44     2,422.56         3,500.00

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

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