Document:

<PAGE>

                                                                    Exhibit 10.1

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

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

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

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

ISSUANCE
INFORMATION
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
       <S>                     <C>                                                   <C>                        <C>
       Seller:                 GreenPoint Mortgage                                   Cut-Off Date:              November 30, 2000
       Certificate Insurer:    Financial Guaranty Insurance Corporation              Closing Date:              December 18, 2000
       Servicer(s):            GreenPoint Mortgage - Master Servicer                 First Payment Date:        January 16, 2001

       Underwriter(s):         Greenwich Capital Markets, Inc. - Underwriter         Distribution Date:         December 17, 2001
                                                                                     Record Date:               December 14, 2001

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

<PAGE>

                    GreenPoint Home Equity Loan Trust 2000-3
                       Home Equity Loan Asset-Backed Notes
                                  Series 2000-3
          Certificate Payment Report for December 17, 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  102,736,000.00  68,927,328.36    140,305.41  5,696,971.30   5,837,276.71           -             -   63,230,357.05
  A-2   FLT,STEP   98,584,000.00  65,657,781.00    133,650.06  4,159,910.46   4,293,560.52           -             -   61,497,870.54
  A-3   FLT,STEP   97,966,000.00  62,705,832.46    128,198.59  2,710,505.93   2,838,704.52           -             -   59,995,326.53
   S                           -              -    328,978.32             -     328,978.32           -             -               -
   R                           -              -             -             -              -           -             -               -
------------------------------------------------------------------------------------------------------------------------------------
 Total            299,286,000.00 197,290,941.82    731,132.38 12,567,387.69  13,298,520.07           -             -  184,723,554.13
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail                Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
                                                    Orig. Principal    Prior                                                Current
          Period    Period                          (with Notional)  Principal                                  Total      Principal
 Class   Starting   Ending    Method      Cusip         Balance       Balance      Interest     Principal   Distribution    Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                        (1)          (2)           (3)       (4)=(2)+(3)      (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>      <C>          <C>        <C>              <C>           <C>          <C>          <C>         <C>
  A-1    11/15/01  12/16/01 A-Act/360    395385AF4  102,736,000.00   670.916995    1.365689     55.452532     56.818221   615.464463
  A-2    11/15/01  12/16/01 A-Act/360    395385AG2   98,584,000.00   666.008490    1.355697     42.196609     43.552306   623.811882
  A-3    11/15/01  12/16/01 A-Act/360    395385AH0   97,966,000.00   640.077501    1.308603     27.667823     28.976426   612.409678
   S                            -                                -            -           -             -             -            -
   R                            -                                -            -           -             -             -            -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Distribution in Dollars - to Date
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                          Current
           Original                   Unscheduled     Scheduled       Total          Total      Realized    Deferred     Principal
 Class    Face Value     Interest      Principal      Principal     Principal     Distribution   Losses     Interest      Balance
------------------------------------------------------------------------------------------------------------------------------------
             (1)            (2)           (3)            (4)       (5)=(3)+(4)    (6)=(2)+(5)      (7)         (8)     (9)=(1)-(5)-
                                                                                                                          (7)+(8)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>            <C>            <C>           <C>            <C>            <C>        <C>       <C>
  A-1  102,736,000.00  4,227,518.10   37,780,487.44  1,725,155.51  39,505,642.95  43,733,161.05     -           -     63,230,357.05
  A-2   98,584,000.00  4,037,557.64   35,354,197.54  1,731,931.92  37,086,129.46  41,123,687.10     -           -     61,497,870.54
  A-3   97,966,000.00  3,929,996.19   36,495,359.09  1,475,314.38  37,970,673.47  41,900,669.66     -           -     59,995,326.53
   S                -  1,093,704.09               -             -              -   1,093,704.09     -           -                 -
   R                -             -               -             -              -              -     -           -                 -
------------------------------------------------------------------------------------------------------------------------------------
 Total 299,286,000.00 13,288,776.02  109,630,044.06  4,932,401.81 114,562,445.87 127,851,221.89     -           -    184,723,554.13
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Detail
------------------------------------------------------------------------------------------------------------------------------------
          Pass-    Prior Principal                    Non-           Prior      Unscheduled                    Paid or    Current
         Through   (with Notional)    Accrued       Supported       Unpaid        Interest       Optimal      Deferred     Unpaid
 Class    Rate         Balance        Interest     Interest SF     Interest     Adjustments      Interest     Interest    Interest
------------------------------------------------------------------------------------------------------------------------------------
                                        (1)            (2)            (3)           (4)          (5)=(1)-          (6)   (7)=(5)-(6)
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>               <C>          <C>             <C>          <C>         <C>           <C>             <C>
  A-1    2.29000%   68,927,328.36     140,305.41           -             -              -   140,305.41    140,305.41            -
  A-2    2.29000%   65,657,781.00     133,650.06           -             -              -   133,650.06    133,650.06            -
  A-3    2.30000%   62,705,832.46     128,198.59           -             -              -   128,198.59    128,198.59            -
   S           -                -              -           -             -              -            -    328,978.32            -
   R           -                -              -           -             -              -            -             -            -
------------------------------------------------------------------------------------------------------------------------------------
 Total             197,290,941.82     402,154.06           -             -              -   402,154.06    731,132.38            -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
SUMMARY                                                                 POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>             <C>             <C>             <C>
    Net Principal Collections                                       2,467,509.58    3,908,878.19    5,423,383.85    11,799,771.62

    TOTAL PRINCIPAL                                                 2,467,509.58    3,908,878.19    5,423,383.85    11,799,771.62

    Interest Collections                                              484,365.20      501,536.99      540,688.36     1,526,590.55
    Interest Fees                                                     (9,028.97)      (9,269.40)      (9,543.73)      (27,842.10)

    TOTAL INTEREST                                                    475,336.23      492,267.59      531,144.63     1,498,748.45

    TOTAL AVAILABLE FUNDS                                           2,942,845.81    4,401,145.78    5,954,528.48    13,298,520.07
----------------------------------------------------------------------------------------------------------------------------------

PRINCIPAL - COLLECTIONS                                                 POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    Principal Collections                                           3,111,200.29    4,390,700.87    6,188,044.79    13,689,945.95
    Repurchases/Substitutions                                               0.00            0.00            0.00             0.00
    Liquidations                                                            0.00       89,629.88       95,271.72       184,901.60
    Insurance Principal                                                     0.00            0.00            0.00             0.00
    Liquidation Loss Amounts                                                0.00     (68,521.23)     (23,500.00)      (92,021.23)
    Additional Balances                                             (643,690.71)    (502,931.33)    (836,432.66)   (1,983,054.70)
    Draw Amount on Demand Note                                              0.00            0.00            0.00             0.00

    TOTAL PRINCIPAL COLLECTED                                       2,467,509.58    3,908,878.19    5,423,383.85    11,799,771.62
----------------------------------------------------------------------------------------------------------------------------------

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

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

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

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

INTEREST - COLLECTIONS                                                  POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    Interest Collections                                              510,846.83      528,385.50      569,173.47     1,608,405.80
    Repurchases/Substitutions                                               0.00            0.00            0.00             0.00
    Liquidations                                                            0.00        1,011.65          820.06         1,831.71
    Insurance                                                               0.00            0.00            0.00             0.00
    Interest
    Other Additional Interest                                               0.00            0.00            0.00             0.00
    Current Servicing Fee                                            (26,481.63)     (27,860.16)     (29,305.17)      (83,646.96)

    TOTAL INTEREST                                                    484,365.20      501,536.99      540,688.36     1,526,590.55
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

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

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

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

INTEREST - FEES                                                         POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    Trustee Fee                                                           529.63          557.20          586.10         1,672.93
    Certificate Insurer Premium                                         8,499.34        8,712.20        8,957.63        26,169.17
    Management Fee                                                          0.00            0.00            0.00             0.00

    TOTAL INTEREST  FEES                                                9,028.97        9,269.40        9,543.73        27,842.10
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                            Credit Enhancement Report
--------------------------------------------------------------------------------

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

INSURANCE                                                               POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    Insured Amount                                                          0.00            0.00            0.00             0.00
    Reimbursements to the Insurer                                           0.00            0.00            0.00             0.00
    Cumulative Insurance Payment                                            0.00            0.00            0.00             0.00

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

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

STRUCTURAL FEATURES                                                     POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    Pool Delinquency Rate                                                2.7220%         3.3534%         2.5068%
    Rolling Six-month Pool Delinquency Rate                              2.2290%         2.1774%         1.5218%

    Prior Overcollateralization                                             0.00            0.00            0.00             0.00
    Amount
    Specified Overcollateralization Amount                          2,161,032.93    2,174,666.96    2,850,733.22     7,186,433.11
    Overcollateralization Amount                                      850,083.63    1,138,081.14    1,381,569.67     3,369,734.44
    Overcollateralization Deficiency Amount                         1,310,949.30    1,036,585.82    1,469,163.55     3,816,698.67

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

    Current Accelerated Principal Payment                             242,996.35      251,032.27      273,587.45       767,616.07
    Cumulative Accelerated Principal Payment                        1,456,601.30    1,512,182.56    1,797,890.79     4,766,674.65
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

--------------------------------------------------------------------------------
                                Collateral Report
--------------------------------------------------------------------------------

<TABLE>
COLLATERAL                                                          POOL III           POOL II            POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                          <C>              <C>               <C>              <C>
      Loan Count:
    Original                                                             583              2188              2664             5435
    Prior                                                                371             1,462             1,792            3,625
    Prefunding                                                             -                 -                 -                -
    Scheduled Paid Offs                                                    -                 -                 -                -
    Full Voluntary Prepayments                                           (16)              (74)             (124)            (214)
    Repurchases                                                            -                 -                 -                -
    Liquidations                                                           -                (2)               (2)              (4)
    ------------------------------------------------------------------------------------------------------------------------------
    Current                                                              355             1,386             1,666            3,407

    Principal Balance:
    Original                                                   96,045,908.07     96,651,865.01    100,721,912.99   293,419,686.07
    Prior                                                      63,555,916.09     66,864,383.37     70,332,398.03   200,752,697.49
    Prefunding                                                             -                 -                 -                -
    Scheduled Principal                                           (86,570.11)      (105,746.87)      (108,392.12)     (300,709.10)
    Partial and Full Voluntary Prepayments                     (3,024,630.18)    (4,284,954.00)    (6,024,945.01)  (13,334,529.19)
    Repurchases                                                            -                 -                 -                -
    Liquidations                                                           -        (89,629.88)       (95,271.72)     (184,901.60)
    ------------------------------------------------------------------------------------------------------------------------------
    Current                                                    61,088,406.51     62,886,983.95     64,885,514.18   188,860,904.64
----------------------------------------------------------------------------------------------------------------------------------

PREFUNDING                                                         POOL III           POOL II            POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
                                                      SPACE INTENTIONALLY LEFT BLANK

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

CHARACTERISTICS                                                       POOL III           POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Coupon Original                                 7.491710%         7.985425%         8.355685%        7.950915%
    Weighted Average Coupon Prior                                    9.750371%         9.658220%         9.778613%        9.729768%
    Weighted Average Coupon Current                                  8.700699%         8.723301%         8.941728%        8.792670%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                           194               199               197              197
    Weighted Average Months to Maturity Prior                              185               191               186              187
    Weighted Average Months to Maturity Current                            184               189               186              186
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                      200               214               208              207
    Weighted Avg Remaining Amortization Term Prior                         193               204               198              198
    Weighted Avg Remaining Amortization Term Current                       191               203               197              197
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                   2.84              2.88              3.04             2.93
    Weighted Average Seasoning Prior                                     10.87             10.97             11.18            11.01
    Weighted Average Seasoning Current                                   11.87             11.98             12.20            12.02
------------------------------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
ARM CHARACTERISTICS                                                   POOL III           POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                  <C>               <C>               <C>              <C>
    Weighted Average Margin Original                                    2.966%            2.411%            2.558%
    Weighted Average Margin Prior                                       2.961%            2.359%            2.506%
    Weighted Average Margin Current                                     3.006%            2.333%            2.510%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                                 17.703%           17.039%           17.227%
    Weighted Average Max Rate Prior                                    17.651%           17.204%           17.281%
    Weighted Average Max Rate Current                                  17.702%           17.199%           17.298%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                                  6.606%            7.182%            7.837%
    Weighted Average Min Rate Prior                                     6.590%            7.085%            7.786%
    Weighted Average Min Rate Current                                   6.569%            7.100%            7.791%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Up Original
    Weighted Average Cap Up Prior
    Weighted Average Cap Up Current
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Down Original
    Weighted Average Cap Down Prior
    Weighted Average Cap Down Current
------------------------------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

SERVICING FEES / ADVANCES                                             POOL III           POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
    TOTAL SERVICING FEE                                              26,481.63         27,860.16         29,305.17        83,646.96
------------------------------------------------------------------------------------------------------------------------------------

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

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

<PAGE>

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

<TABLE>
<CAPTION>
                                                           CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>           <C>             <C>                <C>           <C>
DELINQUENT           Balance                                          3,770,235.47    1,599,664.53       19,639.48     5,389,539.48
                     % Balance                                               2.00%           0.85%           0.01%            2.85%
                     # Loans                                                    85              24               1              110
                     % # Loans                                               2.49%           0.70%           0.03%            3.23%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                            106,911.38               -       98,451.41    3,635,405.96     3,840,768.75
                     % Balance                               0.06%           0.00%           0.05%           1.92%            2.03%
                     # Loans                                     2               -               1              53               56
                     % # Loans                               0.06%           0.00%           0.03%           1.56%            1.64%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            115,115.92               -               -      229,391.68       344,507.60
                     % Balance                               0.06%           0.00%           0.00%           0.12%            0.18%
                     # Loans                                     1               -               -               4                5
                     % # Loans                               0.03%           0.00%           0.00%           0.12%            0.15%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                     -               -               -       37,729.48        37,729.48
                     % Balance                               0.00%           0.00%           0.00%           0.02%            0.02%
                     # Loans                                     -               -               -               1                1
                     % # Loans                               0.00%           0.00%           0.00%           0.03%            0.03%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                            222,027.30    3,770,235.47    1,698,115.94    3,922,166.60     9,612,545.31
                     % Balance                               0.12%           2.00%           0.90%           2.08%            5.09%
                     # Loans                                     3              85              25              59              172
                     % # Loans                               0.09%           2.49%           0.73%           1.73%            5.05%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

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

<TABLE>
<CAPTION>
                                                           CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                   <C>               <C>            <C>             <C>
DELINQUENT           Balance                                          1,837,021.45      572,879.54               -     2,409,900.99
                     % Balance                                               2.83%           0.88%           0.00%            3.71%
                     # Loans                                                    44              12               -               56
                     % # Loans                                               2.64%           0.72%           0.00%            3.36%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                     -               -       98,451.41    1,164,689.33     1,263,140.74
                     % Balance                               0.00%           0.00%           0.15%           1.79%            1.95%
                     # Loans                                     -               -               1              24               25
                     % # Loans                               0.00%           0.00%           0.06%           1.44%            1.50%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            115,115.92               -               -      119,492.48       234,608.40
                     % Balance                               0.18%           0.00%           0.00%           0.18%            0.36%
                     # Loans                                     1               -               -               2                3
                     % # Loans                               0.06%           0.00%           0.00%           0.12%            0.18%
------------------------------------------------------------------------------------------------------------------------------------
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                            115,115.92    1,837,021.45      671,330.95    1,284,181.81     3,907,650.13
                     % Balance                               0.18%           2.83%           1.03%           1.98%            6.02%
                     # Loans                                     1              44              13              26               84
                     % # Loans                               0.06%           2.64%           0.78%           1.56%            5.04%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
                                                           CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>           <C>               <C>              <C>           <C>
DELINQUENT           Balance                                          1,460,024.64      483,776.23       19,639.48     1,963,440.35
                     % Balance                                               2.32%           0.77%           0.03%            3.12%
                     # Loans                                                    37               9               1               47
                     % # Loans                                               2.67%           0.65%           0.07%            3.39%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                            106,911.38               -               -    1,350,924.94     1,457,836.32
                     % Balance                               0.17%           0.00%           0.00%           2.15%            2.32%
                     # Loans                                     2               -               -              24               26
                     % # Loans                               0.14%           0.00%           0.00%           1.73%            1.88%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                     -               -               -      109,899.20       109,899.20
                     % Balance                               0.00%           0.00%           0.00%           0.17%            0.17%
                     # Loans                                     -               -               -               2                2
                     % # Loans                               0.00%           0.00%           0.00%           0.14%            0.14%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                     -               -               -       37,729.48        37,729.48
                     % Balance                               0.00%           0.00%           0.00%           0.06%            0.06%
                     # Loans                                     -               -               -               1                1
                     % # Loans                               0.00%           0.00%           0.00%           0.07%            0.07%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                            106,911.38    1,460,024.64      483,776.23    1,518,193.10     3,568,905.35
                     % Balance                               0.17%           2.32%           0.77%           2.41%            5.68%
                     # Loans                                     2              37               9              28               76
                     % # Loans                               0.14%           2.67%           0.65%           2.02%            5.48%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

--------------------------------------------------------------------------------
                       Delinquency Report - Pool III Group
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                           CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                        <C>          <C>             <C>           <C>              <C>
DELINQUENT           Balance                                            473,189.38      543,008.76               -     1,016,198.14
                     % Balance                                               0.77%           0.89%           0.00%            1.66%
                     # Loans                                                     4               3               -                7
                     % # Loans                                               1.13%           0.85%           0.00%            1.97%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                     -               -               -    1,119,791.69     1,119,791.69
                     % Balance                               0.00%           0.00%           0.00%           1.83%            1.83%
                     # Loans                                     -               -               -               5                5
                     % # Loans                               0.00%           0.00%           0.00%           1.41%            1.41%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                     -               -               -               -                -
                     % Balance                               0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                     -               -               -               -                -
                     % # Loans                               0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                     -               -               -               -                -
                     % Balance                               0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                     -               -               -               -                -
                     % # Loans                               0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                                     -      473,189.38      543,008.76    1,119,791.69     2,135,989.83
                     % Balance                               0.00%           0.77%           0.89%           1.83%            3.50%
                     # Loans                                     -               4               3               5               12
                     % # Loans                               0.00%           1.13%           0.85%           1.41%            3.38%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
SUMMARY                                                 LOAN GROUP
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>
Total Loan Count =   0                                  Loan Group 1  =  Pool I Group;   REO Book Value  =  Not Available
Total Original Principal Balance =   000.00             Loan Group 2  =  Pool II Group;   REO Book Value  =  Not Available
Total Current Balance =   000.00                        Loan Group 3  =  Pool III Group;   REO Book Value  =  Not Available
REO Book Value =   Not Available
-----------------------------------------------------------------------------------------------------------------------------------
REO Book Value reported corresponds to total REO loans, including loans that
become REO during current distribution.

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

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

<PAGE>

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

<TABLE>
<CAPTION>
VOLUNTARY PREPAYMENTS                                                   POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                <C>             <C>            <C>              <C>
    Current
    Number of Paid in Full Loans                                              16              74             124              214
    Number of Repurchased Loans                                               -               -               -                -
    ------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                     16              74             124              214
    Paid in Full Balance                                            2,453,460.57    3,795,824.06    5,446,425.88    11,695,710.51
    Repurchased Loans Balance                                                  -               -               -                -
    Curtailments Amount                                               571,169.61      489,129.94      578,519.13     1,638,818.68
    ------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                         3,024,630.18    4,284,954.00    6,024,945.01    13,334,529.19

    Cumulative
    Number of Paid in Full Loans                                             228             789             983            2,000
    Number of Repurchased Loans                                                -               -               -                -
    ------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                    228             789             983            2,000

    Paid in Full Balance                                           42,608,850.57   39,522,660.84   41,937,249.52   124,068,760.93
    Repurchased Loans Balance                                                  -               -               -                -
    Curtailments Amount                                            14,550,288.98    9,385,148.49   11,998,915.49    35,934,352.96
    ------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                        57,159,139.55   48,907,809.33   53,936,165.01   160,003,113.89

                                                      SPACE INTENTIONALLY LEFT BLANK

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

VOLUNTARY PREPAYMENT RATES                                              POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
    SMM                                                                    4.77%           6.42%           8.58%            6.65%
    3 Months Avg SMM                                                       6.50%           5.91%           6.61%            6.34%
    12 Months Avg SMM                                                      5.84%           4.93%           5.20%            5.32%
    Avg SMM Since Cut-off                                                  5.84%           4.93%           5.20%            5.32%

    CPR                                                                   44.34%          54.89%          65.92%           56.22%
    3 Months Avg CPR                                                      55.37%          51.85%          56.00%           54.45%
    12 Months Avg CPR                                                     51.40%          45.49%          47.33%           48.08%
    Avg CPR Since Cut-off                                                 51.40%          45.49%          47.33%           48.08%

    PSA                                                                 1867.68%        2290.87%        2701.76%         2338.72%
    3 Months Avg  PSA Approximation                                     2546.44%        2361.34%        2504.05%         2471.62%
    12 Months Avg PSA Approximation                                     3613.59%        3179.69%        3229.39%         3338.71%
    Avg PSA Since Cut-off Approximation                                 3613.59%        3179.69%        3229.39%         3338.71%
----------------------------------------------------------------------------------------------------------------------------------
</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.
--------------------------------------------------------------------------------

** denotes rooftop

<PAGE>

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

<TABLE>
<CAPTION>
COLLATERAL REALIZED LOSSES                                              POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                   <C>             <C>             <C>              <C>
    Current
    Number of Loans Liquidated                                                 -               2               2                4
    Collateral Realized Loss/(Gain) Amount                                     -       68,521.23       23,500.00        92,021.23
    Net Liquidation Proceeds                                                   -       21,108.65       71,771.72        92,880.37

    Cumulative
    Number of Loans Liquidated                                                 -              15              14               29
    Collateral Realized Loss/(Gain) Amount                            462,593.66      143,495.38      142,733.66       748,822.70
    Net Liquidation Proceeds                                         (462,593.66)     538,079.73      707,634.57       783,120.64

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

    Cumulative Losses as % of Original Balance                           0.4816%         0.1485%         0.1417%          0.2552%

    Cumulative Losses as % of Current Balance                            0.7573%         0.2282%         0.2200%          0.3965%
----------------------------------------------------------------------------------------------------------------------------------

DEFAULT SPEEDS                                                          POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------

    MDR                                                                    0.00%           0.13%           0.14%            0.09%
    3 Months Avg MDR                                                       0.00%           0.10%           0.24%            0.12%
    12 Months Avg MDR                                                      0.00%           0.07%           0.09%            0.06%
    Avg MDR Since Cut-off                                                  0.00%           0.07%           0.09%            0.06%

    CDR                                                                    0.00%           1.60%           1.61%            1.10%
    3 Months Avg CDR                                                       0.00%           1.14%           2.85%            1.37%
    12 Months Avg CDR                                                      0.00%           0.89%           1.09%            0.67%
    Avg CDR Since Cut-off                                                  0.00%           0.89%           1.09%            0.67%

    SDA                                                                    0.00%           6.66%           6.61%            4.57%
    3 Months Avg  SDA Approximation                                        0.00%           5.21%          12.73%            6.24%
    12 Months Avg SDA Approximation                                        0.00%           6.19%           7.45%            4.68%
    Avg SDA Since Cut-off Approximation                                    0.00%           6.19%           7.45%            4.68%

    Loss Severity Approximation for Current Period                                        76.45%          24.67%           49.77%
    3 Months Avg Loss Severity Approximation                                              47.25%          19.17%           29.29%
    12 Months Avg Loss Severity Approximation                                             30.80%           9.58%           67.75%
    Avg  Loss Severity Approximation Since Cut-off                                        30.80%           9.58%           67.75%

----------------------------------------------------------------------------------------------------------------------------------
</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.

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

** denotes rooftop
*** denotes less than

<PAGE>

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

<TABLE>
<CAPTION>
SUMMARY                                                                LOAN GROUP
---------------------------------------------------------              -------------------------------------------------------------
<S>                                                                    <C>
Total Loan Count =   4                                                 Loan Group 1    =    Pool I Group
Total Original Principal Balance =   187,800.00                        Loan Group 2    =    Pool II Group
Total Prior Principal Balance =   184,901.60                           Loan Group 3    =    Pool III Group
Total Realized Loss Amount =   92,021.23
Total Net Liquidation Proceeds =   92,880.37
---------------------------------------------------------              -------------------------------------------------------------

<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>
   101741726 1                 23,500.00       23,500.00               -      13.625%   CA  -  90.00%         180      Oct-25-00
   101908598 1                 73,000.00       71,771.72               -       9.250%   CA  -  94.99%         180      Nov-03-00
   100651207 2                 69,700.00       68,521.23               -      13.250%   OR  -  94.99%         180      Apr-04-00
   101672558 2                 21,600.00       21,108.65               -      14.500%   MA  -  95.00%         180      Nov-02-00
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

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

ADJUSTABLE RATE CERTIFICATE INFORMATION                                   POOL III         POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
                                                      SPACE INTENTIONALLY LEFT BLANK

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

ADDITIONAL INFORMATION                                                      POOL III         POOL II          POOL I         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
    Detail Delinq. Breakdown to Supplement pages 11-13
    Number of Mort. Loans Delinq. 90 -119 days                                     -               1               -              1
    Balance of Mort. Loans Delinq. 90 -119 days                                 0.00       19,639.48            0.00      19,639.48
    Number of Mort. Loans Delinq. 120 -149 days                                    -               -               -              -
    Balance of Mort. Loans Delinq. 120 -149 days                                0.00            0.00            0.00           0.00
    Number of Mort. Loans Delinq. 150 -179 days                                    1               -               -              1
    Balance of Mort. Loans Delinq. 150 -179 days                          137,256.23            0.00            0.00     137,256.23
    Number of Mort. Loans Delinq. 180 days or more                                 -               -               -              -
    Balance of Mort. Loans Delinq. 180 days or more                             0.00            0.00           11.00          11.00
    Number of Mort. Loans Delinq. 180 days or more (including status)              3              11              11             25
    Balance of Mort. Loans Delinq. 180 days or more (including status)    626,540.06      701,789.00      649,433.53   1,977,762.59

    Management Fee Accrued and Unpaid                                       1,964.04        1,976.40        2,059.56       6,000.00

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

<S>                             <C>                                                     <C>                        <C>

ISSUANCE INFORMATION
------------------------------------------------------------------------------------------------------------------------------------

       Seller:                 GreenPoint Mortgage                                      Cut-Off Date:              February 28, 2001
       Certificate Insurer:    Financial Guaranty Insurance Corporation                 Closing Date:              April 12, 2001
       Servicer(s):            GreenPoint Mortgage - Master Servicer                    First Payment Date:        May 15, 2001

       Underwriter(s):         Lehman Brothers Securities Corporation - Underwriter     Distribution Date:         December 17, 2001
                                                                                        Record Date:               December 14, 2001

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

<PAGE>

                    GreenPoint Home Equity Loan Trust 2001-1
                   Home Equity Loan Asset-Backed Certificates
                                  Series 2001-1
          Certificate Payment Report for December 17, 2001 Distribution

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                      Prior                                                                             Current
          Class       Original      Principal                                     Total         Realized   Deferred    Principal
 Class    Type       Face Value      Balance          Interest     Principal    Distribution     Losses    Interest     Balance
-----------------------------------------------------------------------------------------------------------------------------------
                                       (1)               (2)          (3)       (4)=(2)+(3)       (5)         (6)     (7)=(1)-(3)-
                                                                                                                        (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>             <C>                <C>         <C>            <C>            <C>        <C>       <C>
  A-1   FLT,STEP   196,178,000.00  155,000,947.05     316,890.83  7,093,507.44   7,410,398.27          -         -   147,907,439.61
  A-2   FLT,STEP   106,801,000.00   85,898,548.67     176,378.35  3,341,459.39   3,517,837.74          -         -    82,557,089.28
   R        R                   -               -   1,062,216.51             -   1,062,216.51          -         -                -
-----------------------------------------------------------------------------------------------------------------------------------
 Total             302,979,000.00  240,899,495.72   1,555,485.69 10,434,966.83  11,990,452.52          -         -   230,464,528.89
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail                Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
                                                  Orig. Principal     Prior                                                Current
        Period    Period                          (with Notional)   Principal                                Total        Principal
 Class Starting   Ending    Method     Cusip          Balance        Balance     Interest     Principal   Distribution     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                      (1)          (2)           (3)       (4)=(2)+(3)       (5)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>       <C>       <C>        <C>         <C>              <C>           <C>          <C>           <C>           <C>
  A-1  11/15/01  12/16/01  A-Act/360  395385AJ6   196,178,000.00   790.103615    1.615323     36.158527     37.773850     753.945089
  A-2  11/15/01  12/16/01  A-Act/360  395385AK3   106,801,000.00   804.285996    1.651467     31.286780     32.938247     772.999216
   R                           -                               -            -           -             -             -              -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Distribution in Dollars - to Date

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                         Current
          Original                   Unscheduled    Scheduled       Total         Total        Realized    Deferred     Principal
 Class   Face Value      Interest      Principal     Principal     Principal    Distribution     Losses     Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
            (1)             (2)           (3)           (4)       (5)=(3)+(4)   (6)=(2)+(5)       (7)          (8)    (9)=(1)-(5)-
                                                                                                                         (7)+(8)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>             <C>           <C>            <C>          <C>            <C>            <C>         <C>       <C>
  A-1  196,178,000.00  4,794,761.87  46,220,679.39  2,049,881.00 48,270,560.39  53,065,322.26         -          -   147,907,439.61
  A-2  106,801,000.00  2,643,066.18  23,162,811.62  1,081,099.10 24,243,910.72  26,886,976.90         -          -    82,557,089.28
   R         -         4,088,636.13              -             -             -   4,088,636.13         -          -                -
-----------------------------------------------------------------------------------------------------------------------------------
 Total 302,979,000.00 11,526,464.18  69,383,491.01  3,130,980.10 72,514,471.11  84,040,935.29         -          -   230,464,528.89
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Detail

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
         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)-(2)+     (6)        (7)=(5)-(6)
                                                                                               (3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>                <C>           <C>            <C>          <C>
  A-1   2.30000%  155,000,947.05     316,890.83             -           -              -     316,890.83     316,890.83            -
  A-2   2.31000%   85,898,548.67     176,378.35             -           -              -     176,378.35     176,378.35            -
   R                     -                    -             -           -              -              -   1,062,216.51            -
------------------------------------------------------------------------------------------------------------------------------------
 Total            240,899,495.72     493,269.18             -           -              -     493,269.18   1,555,485.69            -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

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

SUMMARY                                                                                    POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>             <C>             <C>

    Net Principal Collections                                                          3,125,720.55    6,736,145.90    9,861,866.45

    TOTAL PRINCIPAL                                                                    3,125,720.55    6,736,145.90    9,861,866.45

    Interest Collections                                                                 620,823.97    1,171,248.38    1,792,072.35
    Interest Fees                                                                        (13,146.24)     (23,563.04)     (36,709.28)

    TOTAL INTEREST                                                                       607,677.73    1,147,685.34    1,755,363.07

    TOTAL AVAILABLE FUNDS                                                              3,733,398.28    7,883,831.24   11,617,229.52

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

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

    Principal Collections                                                              4,985,407.21    8,141,404.33   13,126,811.54
    Repurchases/Substitutions                                                                  0.00            0.00            0.00
    Liquidations                                                                         537,278.80      301,510.81      838,789.61
    Insurance Principal                                                                        0.00            0.00            0.00
    Liquidation Loss Amounts                                                            (537,278.80)     (80,697.22)    (617,976.02)
    Additional Balances                                                               (1,859,686.66)  (1,626,072.02)  (3,485,758.68)

    TOTAL PRINCIPAL COLLECTED                                                          3,125,720.55    6,736,145.90    9,861,866.45

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

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

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

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

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

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

    Interest Collections                                                                 657,348.13    1,237,192.47    1,894,540.60
    Repurchases/Substitutions                                                                  0.00            0.00            0.00
    Liquidations                                                                               0.00           15.06           15.06
    Insurance Interest                                                                         0.00            0.00            0.00
    Other Additional Interest                                                                  0.00            0.00            0.00
    Current Servicing Fee                                                                (36,524.16)     (65,959.15)    (102,483.31)

    TOTAL INTEREST                                                                       620,823.97    1,171,248.38    1,792,072.35

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

<PAGE>

<TABLE>

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

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

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

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

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

    Trustee Fee                                                                              584.39        1,055.21         1,639.60
    Certificate Insurer Premium                                                           12,383.56       22,186.12        34,569.68
    Management Fee                                                                           178.29          321.71           500.00

    TOTAL INTEREST  FEES                                                                  13,146.24       23,563.04        36,709.28

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

<PAGE>

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                                        Credit Enhancement Report
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                      <C>             <C>            <C>

ACCOUNTS                                                                                     POOL II          POOL I           TOTAL
------------------------------------------------------------------------------------------------------------------------------------

    Beginning Reserve Fund Balance                                                                                      2,028,954.18
    Curr Period Amounts Dep to Res Fund                                                                                   689,493.51
    Curr Withdrawal from Reserve Fund                                                                                   1,062,216.51
    Reserve Fund Balance                                                                                                2,718,447.69

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

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

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

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

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

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

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

    Three Month Average Net Excess Spread Amount                                             6.0832%         6.4938%
    Rolling Six-month Pool Delinquency Rate                                                  0.0000%         0.0000%

    Prior Overcollateralization Amount                                                  1,759,428.48    3,281,013.39    5,040,441.87
    Specified Overcollateralization Amount                                              3,094,119.69    3,557,677.71    6,651,797.41
    Overcollateralization Amount                                                        1,437,888.52    3,557,677.71    4,995,566.23
    Overcollateralization Deficiency Amount                                             1,656,231.17            0.00    1,656,231.18

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

    Current Accelerated Principal Payment                                                 215,738.84      357,361.54      573,100.38
    Cumulative Accelerated Principal Payment                                            1,974,984.92    3,653,489.25    5,628,474.17

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

<PAGE>

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                                             Collateral Report
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>                <C>             <C>

COLLATERAL                                                                               POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
      Loan Count:
    Original                                                                                1191              4428             5619
    Prior                                                                                    917             3,460            4,377
    Prefunding                                                                                 -                 -                -
    Scheduled Paid Offs                                                                        -                 -                -
    Full Voluntary Prepayments                                                               (32)             (143)            (175)
    Repurchases                                                                                -                 -                -
    Liquidations                                                                              (1)              (10)             (11)
    --------------------------------------------------------------------------------------------------------------------------------
    Current                                                                                  884             3,308            4,192

    Principal Balance:
    Original                                                                      106,801,182.40    196,178,327.60   302,979,510.00
    Prior                                                                          87,657,977.15    158,281,960.44   245,939,937.59
    Prefunding                                                                                 -                 -                -
    Scheduled Principal                                                              (127,015.91)      (249,389.80)     (376,405.71)
    Partial and Full Voluntary Prepayments                                         (4,858,391.30)    (7,892,014.53)  (12,750,405.83)
    Repurchases                                                                                -                 -                -
    Liquidations                                                                     (537,278.80)      (301,510.81)     (838,789.61)
    --------------------------------------------------------------------------------------------------------------------------------
    Current
                                                                                   83,994,977.80    151,465,117.32   235,460,095.12
------------------------------------------------------------------------------------------------------------------------------------

PREFUNDING                                                                               POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
                                                    SPACE INTENTIONALLY LEFT BLANK

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

CHARACTERISTICS                                                                          POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------

    Weighted Average Coupon Original                                                    9.879188%        10.019075%        9.969764%
    Weighted Average Coupon Prior                                                       9.680385%         9.787553%        9.749352%
    Weighted Average Coupon Current                                                     0.086633%         0.088503%        0.087836%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                                             189               195              193
    Weighted Average Months to Maturity Prior                                                180               188              185
    Weighted Average Months to Maturity Current                                              179               187              184
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                                        196               213              207
    Weighted Avg Remaining Amortization Term Prior                                           184               206              198
    Weighted Avg Remaining Amortization Term Current                                         183               204              196
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                                     2.92              3.09             3.03
    Weighted Average Seasoning Prior                                                        7.93              8.19             8.10
    Weighted Average Seasoning Current                                                      8.92              9.18             9.08

------------------------------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

</TABLE>

<PAGE>

<TABLE>
<CAPTION>

ARM CHARACTERISTICS                                                                       POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                      <C>               <C>              <C>

    Weighted Average Margin Original                                                     293.006%          228.112%
    Weighted Average Margin Prior                                                        298.644%          230.335%
    Weighted Average Margin Current                                                      301.511%          231.365%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                                                    17.033%           14.638%
    Weighted Average Max Rate Prior                                                       17.249%           14.952%
    Weighted Average Max Rate Current                                                     17.396%           15.020%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                                                     2.930%            2.281%
    Weighted Average Min Rate Prior                                                        2.986%            2.304%
    Weighted Average Min Rate Current                                                      3.015%            2.314%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Up Original
    Weighted Average Cap Up Prior
    Weighted Average Cap Up Current
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Cap Down Original
    Weighted Average Cap Down Prior
    Weighted Average Cap Down Current

------------------------------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.

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

    TOTAL SERVICING FEE                                                                 36,524.16         65,959.15       102,483.31

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

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

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

<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                      Delinquency Report - Total
--------------------------------------------------------------------------------------------------------------------------------
                                                       CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
--------------------------------------------------------------------------------------------------------------------------------
<S>                                                  <C>          <C>             <C>             <C>              <C>
DELINQUENT      Balance                                           3,894,254.85    1,107,203.47               -     5,001,458.32
                % Balance                                                1.65%           0.47%           0.00%            2.12%
                # Loans                                                     72              19               -               91
                % # Loans                                                1.72%           0.45%           0.00%            2.17%
--------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE     Balance                              44,235.78       92,049.03       83,168.18    3,951,162.79     4,170,615.78
                % Balance                                0.02%           0.04%           0.04%           1.68%            1.77%
                # Loans                                     2                2               1              45               50
                % # Loans                                0.05%           0.05%           0.02%           1.07%            1.19%
--------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY      Balance                             369,781.61               -        9,973.22      251,865.12       631,619.95
                % Balance                                0.16%           0.00%           0.00%           0.11%            0.27%
                # Loans                                      6               -               1               5               12
                % # Loans                                0.14%           0.00%           0.02%           0.12%            0.29%
--------------------------------------------------------------------------------------------------------------------------------
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                             414,017.39    3,986,303.88    1,200,344.87    4,203,027.91     9,803,694.05
                % Balance                                0.18%           1.69%           0.51%           1.79%            4.16%
                # Loans                                      8              74              21              50              153
                % # Loans                                0.19%           1.77%           0.50%           1.19%            3.65%
--------------------------------------------------------------------------------------------------------------------------------
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                                           2,714,365.99    1,057,337.65               -     3,771,703.64
                % Balance                                                1.79%           0.70%           0.00%            2.49%
                # Loans                                                     58              18               -               76
                % # Loans                                                1.75%           0.54%           0.00%            2.30%
--------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE     Balance                              19,295.57       92,049.03       83,168.18    1,674,254.96     1,868,767.74
                % Balance                                0.01%           0.06%           0.05%           1.11%            1.23%
                # Loans                                      1               2               1              34               38
                % # Loans                                0.03%           0.06%           0.03%           1.03%            1.15%
--------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY      Balance
                                                    369,781.61               -               -      251,865.12       621,646.73
                % Balance                                0.24%           0.00%           0.00%           0.17%            0.41%
                # Loans                                      6               -               -               5               11
                % # Loans                                0.18%           0.00%           0.00%           0.15%            0.33%
--------------------------------------------------------------------------------------------------------------------------------
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                             389,077.18    2,806,415.02    1,140,505.83    1,926,120.08     6,262,118.11
                % Balance                                0.26%           1.85%           0.75%           1.27%            4.13%
                # Loans                                      7              60              19              39              125
                % # Loans                                0.21%           1.81%           0.57%           1.18%            3.78%
--------------------------------------------------------------------------------------------------------------------------------
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                                          1,179,888.86       49,865.82               -     1,229,754.68
                     % Balance                                                1.40%           0.06%           0.00%            1.46%
                     # Loans                                                    14               1               -               15
                     % # Loans                                                1.58%           0.11%           0.00%            1.70%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                             24,940.21               -               -    2,276,907.83     2,301,848.04
                     % Balance                                0.03%           0.00%           0.00%           2.71%            2.74%
                     # Loans                                     1               -               -              11               12
                     % # Loans                                0.11%           0.00%           0.00%           1.24%            1.36%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                     -               -        9,973.22               -         9,973.22
                     % Balance                                0.00%           0.00%           0.01%           0.00%            0.01%
                     # Loans                                     -               -               1               -                1
                     % # Loans                                0.00%           0.00%           0.11%           0.00%            0.11%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                     -               -               -               -                -
                     % Balance                                0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                     -               -               -               -                -
                     % # Loans                                0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                             24,940.21    1,179,888.86       59,839.04    2,276,907.83     3,541,575.94
                     % Balance                                0.03%           1.40%           0.07%           2.71%            4.22%
                     # Loans                                     1              14               2              11               28
                     % # Loans                                0.11%           1.58%           0.23%           1.24%            3.17%
------------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-29 days, 1 Payment = 30-59 days, 2 Payments = 60-89 days, 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                                                              32             143              175
    Number of Repurchased Loans                                                                -               -                -
    ------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                     32             143              175

    Paid in Full Balance                                                            3,871,767.96    6,872,436.74    10,744,204.70
    Repurchased Loans Balance                                                                  -               -                -
    Curtailments Amount                                                               986,623.34    1,019,577.79     2,006,201.13
    ------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                         4,858,391.30    7,892,014.53    12,750,405.83

    Cumulative
    Number of Paid in Full Loans                                                             304           1,098            1,402
    Number of Repurchased Loans                                                                -               -                -
    ------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                    304           1,098            1,402

    Paid in Full Balance                                                           31,935,245.26   55,272,721.60    87,207,966.86
    Repurchased Loans Balance                                                                  -               -                -
    Curtailments Amount                                                            15,094,638.74   15,910,267.44    31,004,906.18
    ------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                        47,029,884.00   71,182,989.04   118,212,873.04

                                               SPACE INTENTIONALLY LEFT BLANK

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

<CAPTION>
VOLUNTARY PREPAYMENT RATES                                                               POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>             <C>              <C>
    SMM                                                                                    5.55%           4.99%            5.19%
    3 Months Avg SMM                                                                       5.69%           5.12%            5.32%
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                                  5.93%           4.94%            5.29%

    CPR                                                                                   49.60%          45.92%           47.26%
    3 Months Avg CPR                                                                      50.50%          46.77%           48.13%
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                                 51.97%          45.58%           47.93%

    PSA                                                                                 2780.75%        2502.48%         2601.39%
    3 Months Avg  PSA Approximation                                                     3183.03%        2855.29%         2971.38%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                                 4380.65%        3716.27%         3953.74%

----------------------------------------------------------------------------------------------------------------------------------
</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.
--------------------------------------------------------------------------------
** denotes rooftop

<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              10               11
    Collateral Realized Loss/(Gain) Amount                                               537,278.80       80,697.22       617,976.02
    Net Liquidation Proceeds                                                                      -      220,813.59       220,813.59

    Cumulative
    Number of Loans Liquidated                                                                    3              26               29
    Collateral Realized Loss/(Gain) Amount                                               537,278.80       96,139.14       633,417.94
    Net Liquidation Proceeds                                                              77,866.50    1,121,378.31     1,199,244.81

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

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

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

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

DEFAULT SPEEDS                                                                              POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------

    MDR                                                                                       0.61%           0.19%            0.34%
    3 Months Avg MDR                                                                          0.23%           0.19%            0.21%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                                     0.09%           0.09%            0.09%

    CDR                                                                                       7.11%           2.26%            4.02%
    3 Months Avg CDR                                                                          2.76%           2.30%            2.46%
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                                     1.04%           1.08%            1.07%

    SDA                                                                                      39.87%          12.33%           22.11%
    3 Months Avg  SDA Approximation                                                          17.38%          14.05%           15.21%
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                                       8.79%           8.82%            8.81%

    Loss Severity Approximation for Current Period                                          100.00%          26.76%           73.67%
    3 Months Avg Loss Severity Approximation                                                 50.00%           8.92%           24.56%
    12 Months Avg Loss Severity Approximation
    Avg  Loss Severity Approximation Since Cut-off                                           50.00%           8.19%           19.91%

------------------------------------------------------------------------------------------------------------------------------------
</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.
--------------------------------------------------------------------------------
** denotes rooftop
*** denotes less than

<PAGE>

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

SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                -----------------------------------------------------------
<S>                                                                      <C>
Total Loan Count =   11                                                  Loan Group 1    =    Pool I Group
Total Original Principal Balance =   748,155.00                          Loan Group 2    =    Pool II Group
Total Prior Principal Balance =   838,789.61
Total Realized Loss Amount =   617,976.02
Total Net Liquidation Proceeds =   220,813.59
---------------------------------------------------------                -----------------------------------------------------------

<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>
   101847291 1                 52,000.00       49,630.41               -       0.060%   CA  -  62.89%           300      Nov-13-00
   101978203 1                 32,000.00       42,676.83               -       0.059%   CA  -  80.00%           300      Nov-08-00
   101981348 1                 12,600.00       12,496.29               -       0.128%   CA  -  93.26%           180      Nov-15-00
   102105632 1                 11,200.00        6,172.23               -       0.000%   FL  -  80.00%           180      Dec-13-00
   102146610 1                 24,500.00       24,446.49               -       0.000%   NC  -  80.00%           180      Dec-19-00
   102161395 1                 28,000.00       28,000.00               -       0.000%   CA  -  80.00%           180      Dec-21-00
   102161908 1                 22,000.00       21,885.17               -       0.000%   CA  -  80.00%           180      Dec-29-00
   102225687 1                         -       31,363.97               -       0.100%   CA  -  27.12%           180      Jan-30-01
   102260247 1                 25,855.00       48,518.12               -       0.075%   CA  -  60.59%           180      Jan-10-01
   102360328 1                         -       36,321.30               -       0.116%   ME  -  53.62%           180      Jan-31-01
   102045226 2                540,000.00      537,278.80               -       0.000%   CA  -  75.00%           180      Dec-12-00

------------------------------------------------------------------------------------------------------------------------------------
</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
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                      <C>              <C>               <C>
                                                   SPACE INTENTIONALLY LEFT BLANK

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

<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                                                 -               -                -
    Balance of Mort. Loans Delinq. 90 -119 days                                             0.00            0.00             0.00
    Number of Mort. Loans Delinq. 120 -149 days                                                1               -                1
    Balance of Mort. Loans Delinq. 120 -149 days                                      158,284.60            0.00       158,284.60
    Number of Mort. Loans Delinq. 150 -179 days                                                -               -                -
    Balance of Mort. Loans Delinq. 150 -179 days                                            0.00            0.00             0.00
    Number of Mort. Loans Delinq. 180 days or more                                             -               -                -
    Balance of Mort. Loans Delinq. 180 days or more                                         0.00            0.00             0.00
    Count of ALL Loans 180 day plus bucket                                                     4              21               25
    Balance of ALL Loans 180 day plus bucket                                          484,659.34      875,361.23     1,360,020.57
    Management Fee Accrued and Unpaid                                                   1,426.30        2,573.70         4,000.00

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

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