Document:

Executed in 6 Parts
                                             Counterpart No. (   )

                             NATIONAL EQUITY TRUST
                       FORBES FORTY INDEX TRUST SERIES 7
                           REFERENCE TRUST AGREEMENT

     This  Reference  Trust  Agreement  dated  ________,  2001 among  Prudential
Securities Incorporated, as Depositor and The Bank of New York, as Trustee, sets
forth certain  provisions in full and incorporates other provisions by reference
to the document entitled  "National Equity Trust, Trust Indenture and Agreement"
(the "Basic Agreement") dated February 2, 2000. Such provisions as are set forth
in full herein and such provisions as are incorporated by reference constitute a
single instrument (the "Indenture").

                                WITNESSETH THAT:

     In  consideration  of the  premises  and of the  mutual  agreements  herein
contained, the Depositor and the Trustee agree as follows: Part I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

     Subject to the provisions of Part II hereof,  all the provisions  contained
in the Basic  Agreement are herein  incorporated  by reference in their entirety
and  shall be deemed  to be a part of this  instrument  as fully and to the same
extent as though said provisions had been set forth in full in this instrument.

A.      Article III, entitled "Administration of Trust," shall be amended as
        follows:

        (i)  Section 3.14 Deferred Sales Charge shall be amended to add the
             following sentences at the end thereof:

             "References to Deferred Sales Charge in this Trust Indenture and
             Agreement shall include any Creation and Development Fee indicated
             in the prospectus for a Trust.  The Creation and Development Fee
             shall be payable on each date so designated and in an amount
             determined as specified in the prospectus for a Trust."

<PAGE>

                                      -2-

                                    Part II.

                     SPECIAL TERMS AND CONDITIONS OF TRUST

     The following special terms and conditions are hereby agreed to:

A.   The Trust is denominated National Equity Trust, Forbes Forty Index Trust
     Series 7.

B.   The Units of the Trust shall be subject to a deferred sales charge.

C.   The publicly traded stocks listed in Schedule A hereto are those which,
     subject to the terms of this Indenture, have been or are to be deposited in
     Trust under this Indenture as of the date hereof.

D.   The term "Depositor" shall mean Prudential Securities Incorporated.

E.   The aggregate number of Units referred to in Sections 2.03 and 9.01 of the
      Basic Agreement is          as of the date hereof.

F.   A Unit of the Trust is hereby declared initially equal to 1/     th of the
     Trust.

G.   The term "First Settlement Date" shall mean                        , 2001.

H.   The terms "Computation Day" and "Record Date" shall be on such dates as the
     Sponsor shall direct.

I.   The term "Distribution Date" shall be on such dates as the Sponsor shall
     direct.

J.   The term "Termination Date" shall mean          , 2002.

K.   The Trustee's Annual Fee shall be $      (per 1,000 Units) for 49,999,999
     and below units outstanding $      (per 1,000 Units) on the next 50,000,000
     Units, $     (per 1,000 Units) on the next 100,000,000 Units and $     (per
     1,000 Units) on Units in excess of 200,000,000 Units.  In calculating the
     Trustee's annual fee, the fee applicable to the number of units outstanding
     shall apply to all units outstanding.

L.   The Depositor's Portfolio supervisory service fee shall be $     per 1,000
     Units.

               [Signatures and acknowledgments on separate pages][LOGO]                          GENERAL CONSULTING AGREEMENT
                                Isotope Solutions, Inc.
Chesapeake Regulatory Group     May 25, 2001

This agreement is made on May 25, 2001, between Isotope Solutions, Inc. located
at 700 Stewart Avenue, Garden City, NY 11530 (herein referred to as ISI) and
Chesapeake Regulatory Group located at 6574 River Clyde Drive, Highland, MD
20777 (herein referred to as CRG).

Scope of Work:

CRG will serve as a regulatory affairs consultant providing ISI with review and
advice on FDA regulatory issues related to the development of their planned drug
products and other issues that may arise.

Consideration:

ISI agrees to pay CRG $250.00/hour for the regulatory affairs consulting
services of David Zuchero, M.S., J.D. The minimum billable time will be 15
minutes. CRG will keep accurate records of the hours spent on ISI projects. ISI
will reimburse CRG for approved travel and lodging associated with ISI projects.
CRG will invoice ISI for services rendered on a monthly basis or as directed by
ISI and ISI agrees to reimburse CRG within 30 days of receipt of these invoices.

Terms and Termination:

This agreement shall become effective as of the date that this agreement is
signed. If the project is terminated without cause by either ISI or CRG before
project completion, ISI will reimburse CRG for all fees and expenses incurred up
to, and including the termination date.

Independent Contractor:

In conducting these services, CRG is acting as an independent contractor without
the capacity to legally bind ISI and is not an agent or employee of ISI.

Indemnification:

ISI fully indemnifies and holds harmless CRG, its representatives and assigns
against and in respect of any and all demands, damages, expenses, losses, costs,
causes of action or investigations of any kind whatsoever, including all
actions, suits proceedings, demands, judgments and cost (consisting of, but not
limited to, the cost of enforcing this indemnification and actual attorney's
fees.)

General:

These consulting services will be carried out in cooperation with ISI who will
make available to CRG the appropriate supporting information, documents and
resources. All services performed shall be deemed work-for-hire, and all work
products shall be the property of ISI.

During and after the term of this agreement, CRG will maintain confidentiality
of all information as specified in the confidentiality agreement dated as of May
25, 2001.

Changes to the terms of this agreement must be in writing and signed by both
parties. This agreement expires on May 25, 2002.

This agreement is the entire agreement and understanding between ISI and CRG,
and supersedes and replaces all prior and contemporaneous agreements, written or
oral. This agreement also supersedes and replaces the consulting agreement
between CRG and Center for Molecular Medicine dated August 18, 2000.

Isotope Solutions, Inc.                    Chesapeake Regulatory Group

Accepted by:  /s/ Jack Schwartzberg        Accepted by:   /s/ David Zuchero
              ---------------------                       -----------------
              Jack Schwartzberg                           David Zuchero
              Chairman and CEO                            President

Date:         May 25, 2001                 Date:          May 25, 2001

--------------------------------------------------------------------------------
Chesapeake Regulatory Group        Planning, writing and submitting for approval<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>
----------------------------------------------------------------------------------------------------------------------------------
<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:         May 15, 2001
                                                                                      Record Date:               May 14, 2001

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

                   GreenPoint Home Equity Loan Trust 2000-3
                      Home Equity Loan Asset-Backed Notes
                                 Series 2000-3
                Certificate Payment Report for May 15, 2001 Distribution

<TABLE>
<CAPTION>
Distribution in Dollars - Current Period
------------------------------------------------------------------------------------------------------------------------------------
                                          Prior                                                                            Current
          Class         Original        Principal                                    Total       Realized     Deferred    Principal
 Class     Type        Face Value        Balance       Interest     Principal    Distribution     Losses      Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                           (1)           (2)           (3)        (4)=(2)+(3)      (5)           (6)    (7)=(1)-(3)-
                                                                                                                          (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>        <C>                <C>            <C>           <C>           <C>             <C>          <C>     <C>
  A-1    FLT,STEP   102,736,000.00     97,417,498.58    10,621.52   2,885,776.55  3,296,398.07      -             -   94,531,722.03
  A-2    FLT,STEP    98,584,000.00     92,984,074.26   391,934.33   2,809,846.12  3,201,780.45      -             -   90,174,228.14
  A-3    FLT,STEP    97,966,000.00     88,104,987.83   372,078.38   1,239,668.03  1,611,746.41      -             -   86,865,319.80
   S                             -                 -            -              -             -      -             -               -
   R                             -                 -            -              -             -      -             -               -
-----------------------------------------------------------------------------------------------------------------------------------
 Total              299,286,000.00    278,506,560.67 1,174,634.23   6,935,290.70  8,109,924.93      -             -  271,571,269.97
-----------------------------------------------------------------------------------------------------------------------------------
</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   04/16/01  05/14/01 A-Act/360  395385AF4  102,736,000.00   948.231375   3.996861    28.089244     32.086105     920.142132
  A-2   04/16/01  05/14/01 A-Act/360  395385AG2   98,584,000.00   943.196404   3.975638    28.502050     32.477689     914.694353
  A-3   04/16/01  05/14/01 A-Act/360  395385AH0   97,966,000.00   899.342505   3.798036    12.654064     16.452100     886.688441
   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  2,440,797.97  7,338,876.98     865,400.99   8,204,277.97 10,645,075.94        -         -    94,531,722.03
  A-2    98,584,000.00  2,335,176.21  7,502,619.79     907,152.07   8,409,771.86 10,744,948.07        -         -    90,174,228.14
  A-3    97,966,000.00  2,271,958.85 10,302,854.06     797,826.14  11,100,680.20 13,372,639.05        -         -    86,865,319.80
   S                 -             -             -              -              -             -        -         -                -
   R                 -             -             -              -              -             -        -         -                -
-----------------------------------------------------------------------------------------------------------------------------------
 Total  299,286,000.00  7,047,933.03 25,144,350.83   2,570,379.20  27,714,730.03 34,762,663.06        -         -   271,571,269.97
-----------------------------------------------------------------------------------------------------------------------------------
</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)
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>      <C>              <C>          <C>              <C>          <C>          <C>           <C>           <C>
</TABLE>
<PAGE>

<TABLE>
---------------------------------------------------------------------------------------------------------------------------
<S>      <C>         <C>                <C>             <C>        <C>      <C>    <C>          <C>                  <C>
                                                                                   (2)+(3)+)4)
---------------------------------------------------------------------------------------------------------------------------
  A-1     5.23250%   97,417,498.58       410,621.52         -         -         -   410,621.52    410,621.52              -
  A-2     5.23250%   92,984,074.26       391,934.33         -         -         -   391,934.33    391,934.33              -
  A-3     5.24250%   88,104,987.83       372,078.38         -         -         -   372,078.38    372,078.38              -
   S                             -                -         -         -         -            -             -              -
   R                             -                -         -         -         -            -             -              -
---------------------------------------------------------------------------------------------------------------------------
  Total             278,506,560.67     1,174,634.23         -         -         - 1,174,634.23  1,174,634.23              -
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

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

SUMMARY                             POOL III         POOL II          POOL I            TOTAL
----------------------------------------------------------------------------------------------
<S>                               <C>           <C>             <C>             <C>
    Net Principal Collections     891,630.43    2,405,398.59    2,456,609.68     5,753,638.70

    TOTAL PRINCIPAL               891,630.43    2,405,398.59    2,456,609.68     5,753,638.70

    Interest Collections          733,146.80      809,922.64      853,984.39     2,397,053.83
    Interest Fees                 (13,030.82)     (13,540.78)     (14,196.00)      (40,767.60)

    TOTAL INTEREST                720,115.98      796,381.86      839,788.39     2,356,286.23

    TOTAL AVAILABLE FUNDS       1,611,746.41    3,201,780.45    3,296,398.07     8,109,924.93

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

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

    Principal Collections       3,491,197.31    4,337,707.59    4,631,264.43    12,460,169.33
    Repurchases/Substitutions           0.00            0.00            0.00             0.00
    Liquidations                        0.00       54,000.00       41,405.77        95,405.77
    Insurance Principal                 0.00            0.00            0.00             0.00
    Liquidation Loss Amounts            0.00      (20,426.22)           0.00       (20,426.22)
    Additional Balances        (2,599,566.88)  (1,986,309.00)  (2,216,060.52)   (6,801,936.40)

    TOTAL PRINCIPAL COLLECTED     891,630.43    2,405,398.59    2,456,609.68     5,753,638.70

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

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          769,391.72      847,653.77      893,874.49     2,510,919.98
    Repurchases/Substitutions           0.00            0.00            0.00             0.00
    Liquidations                        0.00          573.75          310.54           884.29
    Insurance Interest                  0.00            0.00            0.00             0.00
    Other Additional Interest           0.00            0.00            0.00             0.00
    Current Servicing Fee         (36,244.92)     (38,304.88)     (40,200.64)     (114,750.44)

    TOTAL INTEREST                733,146.80      809,922.64      853,984.39     2,397,053.83
----------------------------------------------------------------------------------------------
</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                                                          724.90          766.10          804.01         2,295.01
    Certificate Insurer Premium                                       12,305.92       12,774.68       13,391.99        38,472.59
    Management Fee                                                         0.00            0.00            0.00             0.00

    TOTAL INTEREST  FEES                                              13,030.82       13,540.78       14,196.00        40,767.60

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

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

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       20,426.22            0.00        20,426.22

    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                                                1.4867%         0.5406%         0.7380%
    Rolling Six-month Pool Delinquency Rate                              0.9555%         0.4183%         0.4102%

    Prior Overcollateralization Amount                                     0.00            0.00            0.00             0.00
    Specified Overcollateralization Amount                         2,161,032.93    2,174,666.96    2,310,073.04     6,645,772.94
    Overcollateralization Amount                                           0.00            0.00            0.00             0.00
    Overcollateralization Deficiency Amount                        2,161,032.93    2,174,666.96    2,310,073.04     6,645,772.94

    Overcollateralization Deficit                                    769,142.50      647,920.16      506,800.96     1,923,863.62
    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                                  0.00            0.00            0.00             0.00
    Cumulative Accelerated Principal Payment                               0.00            0.00            0.00             0.00

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

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

COLLATERAL                                                    POOL III         POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------
<S>                                                           <C>              <C>              <C>               <C>
      Loan Count:
    Original                                                       583            2188            2664             5435
    Prior                                                          518           2,025           2,453            4,996
    Prefunding                                                       -               -               -                -
    Scheduled Paid Offs                                              -               -               -                -
    Full Voluntary Prepayments                                     (17)            (75)            (83)            (175)
    Repurchases                                                      -               -               -                -
    Liquidations                                                     -              (1)             (1)              (2)
    --------------------------------------------------------------------------------------------------------------------
    Current                                                        501           1,949           2,369            4,819

    Principal Balance:
    Original                                             96,045,908.07   96,651,865.01  100,721,912.99   293,419,686.07
    Prior                                                86,987,807.73   91,931,706.57   96,481,530.75   275,401,045.05
    Prefunding                                                       -               -               -                -
    Scheduled Principal                                     (78,807.95)    (106,478.23)    (107,920.89)     (293,207.07)
    Partial and Full Voluntary Prepayments               (3,412,389.36)  (4,231,229.36)  (4,523,343.54)  (12,166,962.26)
    Repurchases                                                      -               -               -                -
    --------------------------------------------------------------------------------------------------------------------
    Liquidations                                                     -      (54,000.00)     (41,405.77)      (95,405.77)
    Current                                              86,096,177.30   89,526,307.98   94,024,921.07   269,647,406.35
------------------------------------------------------------------------------------------------------------------------

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                            1.305392%      11.155070%      11.234774%       11.230790%
    Weighted Average Coupon Current                          1.265286%      11.157613%      11.234603%       11.218594%
    --------------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                   194             199             197              197
    Weighted Average Months to Maturity Prior                      191             196             193              193
    Weighted Average Months to Maturity Current                    190             195             193              193
    --------------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original              200             214             208              207
    Weighted Avg Remaining Amortization Term Prior                 198             211             205              205
    Weighted Avg Remaining Amortization Term Current               197             209             204              204
    --------------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                           2.84            2.88            3.04             2.93
    Weighted Average Seasoning Prior                              4.86            4.86            5.03             4.92
    Weighted Average Seasoning Current                            5.89            5.86            6.03             5.93

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

ARM CHARACTERISTICS                                           POOL III         POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------

    Weighted Average Margin Original                            2.966%          2.411%          2.558%
    Weighted Average Margin Prior                               3.001%          2.387%          2.565%
    Weighted Average Margin Current                             3.026%          2.377%          2.555%
    --------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                         17.703%         17.039%         17.227%
    Weighted Average Max Rate Prior                            17.696%         17.082%         17.261%
    Weighted Average Max Rate Current                          17.696%         17.094%         17.259%
    --------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                          6.606%          7.182%          7.837%
    Weighted Average Min Rate Prior                             6.651%          7.155%          7.803%
    Weighted Average Min Rate Current                           6.632%          7.156%          7.803%
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
<S>                                                           <C>              <C>              <C>               <C>
    --------------------------------------------------------------------------------------------------------------------
    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                                      36,244.92       38,304.88       40,200.64       114,750.44

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

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

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

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

                                                       CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>                              <C>         <C>               <C>             <C>            <C>
DELINQUENT           Balance                                     2,872,218.54      751,381.31      541,224.83     4,164,824.68
                     % Balance                                           1.07%           0.28%           0.20%            1.54%
                     # Loans                                               51              11               6               68
                     % # Loans                                           1.06%           0.23%           0.12%            1.41%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                -               -               -    1,128,955.08     1,128,955.08
                     % Balance                           0.00%           0.00%           0.00%           0.42%            0.42%
                     # Loans                                -               -               -              12               12
                     % # Loans                           0.00%           0.00%           0.00%           0.25%            0.25%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                       136,394.14               -               -       36,350.34       172,744.48
                     % Balance                           0.05%           0.00%           0.00%           0.01%            0.06%
                     # Loans                                4               -               -               2                6
                     % # Loans                           0.08%           0.00%           0.00%           0.04%            0.12%
------------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                -               -               -               -                -
                     % Balance                           0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                -               -               -               -                -
                     % # Loans                           0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                       136,394.14    2,872,218.54      751,381.31    1,706,530.25     5,466,524.24
                     % Balance                           0.05%           1.07%           0.28%           0.63%            2.03%
                     # Loans                                4              51              11              20               86
                     % # Loans                           0.08%           1.06%           0.23%           0.42%            1.78%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

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

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

                                                       CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>                               <C>        <C>              <C>               <C>            <C>
DELINQUENT           Balance                                     1,035,936.48      157,607.75      413,646.79     1,607,191.02
                     % Balance                                           1.10%           0.17%           0.44%            1.71%
                     # Loans                                               27               4               5               36
                     % # Loans                                           1.14%           0.17%           0.21%            1.52%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                -               -               -      101,105.63       101,105.63
                     % Balance                           0.00%           0.00%           0.00%           0.11%            0.11%
                     # Loans                                -               -               -               3                3
                     % # Loans                           0.00%           0.00%           0.00%           0.13%            0.13%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                       120,590.90               -               -       21,529.62       142,120.52
                     % Balance                           0.13%           0.00%           0.00%           0.02%            0.15%
                     # Loans                                3               -               -               1                4
                     % # Loans                           0.13%           0.00%           0.00%           0.04%            0.17%
------------------------------------------------------------------------------------------------------------------------------------
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                       120,590.90    1,035,936.48      157,607.75      536,282.04     1,850,417.17
                     % Balance                           0.13%           1.10%           0.17%           0.57%            1.97%
                     # Loans                                3              27               4               9               43
                     % # Loans                           0.13%           1.14%           0.17%           0.38%            1.82%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+
Payments = 90+
<PAGE>

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

                                                        CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                              <C>          <C>               <C>             <C>            <C>
DELINQUENT           Balance                                       1,262,740.44      247,447.40               -     1,510,187.84
                     % Balance                                             1.41%           0.28%           0.00%            1.69%
                     # Loans                                                 21               5               -               26
                     % # Loans                                             1.08%           0.26%           0.00%            1.33%
---------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                  -               -               -      221,755.79       221,755.79
                     % Balance                             0.00%           0.00%           0.00%           0.25%            0.25%
                     # Loans                                  -               -               -               6                6
                     % # Loans                             0.00%           0.00%           0.00%           0.31%            0.31%
---------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                          15,803.24               -               -       14,820.72        30,623.96
                     % Balance                             0.02%           0.00%           0.00%           0.02%            0.03%
                     # Loans                                  1               -               -               1                2
                     % # Loans                             0.05%           0.00%           0.00%           0.05%            0.10%
---------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                  -               -               -               -                -
                     % Balance                             0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                  -               -               -               -                -
                     % # Loans                             0.00%           0.00%           0.00%           0.00%            0.00%
---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                          15,803.24    1,262,740.44      247,447.40      236,576.51     1,762,567.59
                     % Balance                             0.02%           1.41%           0.28%           0.26%            1.97%
                     # Loans                                  1              21               5               7               34
                     % # Loans                             0.05%           1.08%           0.26%           0.36%            1.74%
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

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

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

                                                        CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                                <C>          <C>             <C>             <C>            <C>
DELINQUENT           Balance                                         573,541.62      346,326.16      127,578.04     1,047,445.82
                     % Balance                                             0.67%           0.40%           0.15%            1.22%
                     # Loans                                                  3               2               1                6
                     % # Loans                                             0.60%           0.40%           0.20%            1.20%
---------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                  -               -               -      806,093.66       806,093.66
                     % Balance                             0.00%           0.00%           0.00%           0.94%            0.94%
                     # Loans                                  -               -               -               3                3
                     % # Loans                             0.00%           0.00%           0.00%           0.60%            0.60%
---------------------------------------------------------------------------------------------------------------------------------
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                                  -      573,541.62      346,326.16      933,671.70     1,853,539.48
                     % Balance                             0.00%           0.67%           0.40%           1.08%            2.15%
                     # Loans                                  -               3               2               4                9
                     % # Loans                             0.00%           0.60%           0.40%           0.80%            1.80%
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>

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

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

SUMMARY                                                 LOAN GROUP
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>
Total Loan Count =   0                                  Loan Group 1  =  Pool I Group;   REO Book Value  =  000.00
Total Original Principal Balance =   000.00             Loan Group 2  =  Pool II Group;  REO Book Value  =  000.00
Total Current Balance =   000.00                        Loan Group 3  =  Pool III Group; REO Book Value  =  000.00
REO Book Value =   000.00

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

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

<TABLE>
<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 III         POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
    <S>                                                            <C>             <C>             <C>              <C>
    Current
    Number of Paid in Full Loans                                              17              75              83              175
    Number of Repurchased Loans                                                -               -               -                -
    -----------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                     17              75              83              175

    Paid in Full Balance                                            3,028,302.44    3,478,497.41    3,428,873.52     9,935,673.37
    Repurchased Loans Balance                                                  -               -               -                -
    Curtailments Amount                                               384,086.92      752,731.95    1,094,470.02     2,231,288.89
    -----------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                         3,412,389.36    4,231,229.36    4,523,343.54    12,166,962.26

    Cumulative
    Number of Paid in Full Loans                                              82             238             294              614
    Number of Repurchased Loans                                                -               -               -                -
    -----------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                     82             238             294              614

    Paid in Full Balance                                           16,289,402.23   11,843,115.53   12,200,276.58    40,332,794.34
    Repurchased Loans Balance                                                  -               -               -                -
    Curtailments Amount                                             8,524,389.24    5,113,196.09    6,518,765.27    20,156,350.60
    -----------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                        24,813,791.47   16,956,311.62   18,719,041.85    60,489,144.94

                                                  SPACE INTENTIONALLY LEFT BLANK

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

VOLUNTARY PREPAYMENT RATES                POOL III   POOL II    POOL I    TOTAL
--------------------------------------------------------------------------------

    SMM                                      3.93%     4.61%     4.69%     4.42%
    3 Months Avg SMM                         5.34%     4.21%     4.23%     4.58%
    12 Months Avg SMM
    Avg SMM Since Cut-off                    5.39%     3.59%     3.78%     4.24%

    CPR                                     38.16%    43.23%    43.83%    41.89%
    3 Months Avg CPR                        48.26%    40.33%    40.47%    43.03%
    12 Months Avg CPR
    Avg CPR Since Cut-off                   48.54%    35.54%    37.06%    40.53%

    PSA                                   3242.29%  3686.18%  3636.50%  3533.48%
    3 Months Avg  PSA Approximation       4959.19%  4146.25%  4024.81%  4371.34%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation   5980.19%  4366.91%  4375.89%  4914.59%

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

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)
<PAGE>

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

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

    Weighted Average Seasoning (WAS)

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

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

COLLATERAL REALIZED LOSSES                                         POOL III         POOL II          POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------------------
    <S>                                                            <C>            <C>             <C>              <C>
    Current
    Number of Loans Liquidated                                            -               1               1                2
    Collateral Realized Loss/(Gain) Amount                                -       20,426.22               -        20,426.22
    Net Liquidation Proceeds                                              -       33,573.78       41,405.77        74,979.55

    Cumulative
    Number of Loans Liquidated                                            -               1               1                2
    Collateral Realized Loss/(Gain) Amount                                -       20,426.22               -        20,426.22
    Net Liquidation Proceeds                                              -       33,573.78       41,405.77        74,979.55

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

    Cumulative Losses as % of Original Balance                       0.0000%         0.0211%         0.0000%          0.0070%

    Cumulative Losses as % of Current Balance                        0.0000%         0.0228%         0.0000%          0.0076%

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

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

    MDR                                                                0.00%           0.06%           0.04%            0.03%
    3 Months Avg MDR                                                   0.00%           0.02%           0.01%            0.01%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                              0.00%           0.01%           0.01%            0.01%

    CDR                                                                0.00%           0.70%           0.51%            0.41%
    3 Months Avg CDR                                                   0.00%           0.23%           0.17%            0.14%
    12 Months Avg CDR
    Avg CDR Since Cut-off                                              0.00%           0.14%           0.10%            0.08%

    SDA                                                                0.00%           5.99%           4.26%            3.50%
    3 Months Avg  SDA Approximation                                    0.00%           2.41%           1.71%            1.41%
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                0.00%           1.73%           1.22%            1.01%

    Loss Severity Approximation for Current Period                                    37.83%           0.00%           21.41%
    3 Months Avg Loss Severity Approximation                                          37.83%           0.00%           21.41%
    12 Months Avg Loss Severity Approximation
    Avg  Loss Severity Approximation Since Cut-off                                    37.83%           0.00%           21.41%

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

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)))
<PAGE>

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

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

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

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

          Dates correspond to distribution dates.
--------------------------------------------------------------------------------
<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                  Realized Loss Detail Report - Loans Liquidated During Current Distribution
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>
SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                -----------------------------------------------------------

Total Loan Count =  2                                                    Loan Group 1    =    Pool I Group
Total Original Principal Balance =  98,000.00                            Loan Group 2    =    Pool II Group
Total Prior Principal Balance =  95,405.77                               Loan Group 3    =    Pool III Group
Total Realized Loss Amount =  20,426.22
Total Net Liquidation Proceeds =  74,979.55
---------------------------------------------------------                -----------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
   Loan Number               Original         Prior                         Current       State &
        &           Loan     Principal      Principal        Realized        Note          LTV at         Original      Origination
    Loan Group     Status     Balance        Balance       Loss/(Gain)       Rate       Origination         Term           Date
------------------------------------------------------------------------------------------------------------------------------------
   <S>             <C>       <C>            <C>            <C>              <C>         <C>               <C>           <C>
      101266682 1              44,000.00       41,405.77               -      9.000%    CA  -  79.90%              180     Sep-20-00
      101465961 2     FLC      54,000.00       54,000.00               -     12.750%    CO  -  94.42%              180     Oct-04-00

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

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

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               -               5                6
   Balance of Mort. Loans Delinq. 90 -119 days                 127,578.04            0.00      413,646.79       541,224.83
   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                          -               -               -                -
   Balance of Mort. Loans Delinq. 150 -179 days                      0.00            0.00            0.00             0.00
   Number of Mort. Loans Delinq. 180 days or more                       1               -               -                1
   Balance of Mort. Loans Delinq. 180 days or more                  40.00            0.00            0.00            40.00
   Number of Mort. Loans Delinq. 180 days or more (including            1               1               1                3
   status)
   Balance of Mort. Loans Delinq. 180 days or more (including  200,000.00       36,200.00       48,700.00       284,900.00
   status)

   Management Fee Accrued and Unpaid                               818.35          823.50          858.15         2,500.00

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

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