Document:

<PAGE>
EXHIBIT 10.20.20

                                 EUROTECH, LTD.

                              ARTICLES OF AMENDMENT
                        TO THE ARTICLES OF INCORPORATION
                         TO STATE TERMS OF SERIES SHARES

To:      Department of Consumer and Regulatory Affairs
         Corporate Division
         Washington, D.C. 20001

         Pursuant to the provisions of Title 29, Chapter 3 of the Code of Laws
of the District of Columbia, the undersigned corporation adopts the following
Articles of Amendment to its Articles of Incorporation:

         FIRST: The name of the Corporation is Eurotech, Ltd.

         SECOND: Pursuant to the authority expressly vested in the Board of
Directors of the Corporation by Article FOURTH (b) of the Articles of
Incorporation of the Corporation, as amended, the Board of Directors has, by
resolution duly adopted on February 1, 2002, duly designated 25,000 shares of
the Preferred Stock of the Corporation, as a series designated "Series A 3%
Convertible Preferred Stock." To effectuate the designation of the Series A 3%
Convertible Preferred Stock, including the preferences, conversion and other
rights, voting powers, restrictions, limitations as to distributions,
qualifications, and terms and conditions of redemption, all as set by the Board
of Directors of the Corporation, Article FOURTH of the Articles of Incorporation
of the Corporation, as amended, is hereby further amended to include new
subsection (c) as follows:

"(c) Twenty Five Thousand (25,000) shares of the Preferred Stock of the
Corporation, as a series shall be designated as "Series A 3% Convertible
Preferred Stock." The preferences, conversion and other rights, voting powers,
restrictions, limitations as to distributions, qualifications, and terms and
conditions of redemption, all as set by the Board of Directors of the
Corporation, are as follows:

         Section 1. Designation and Amount.
                    -----------------------

         The shares of such series shall be designated as the "Series A 3%
Convertible Preferred Stock" (the "Designated Series Shares") and the number of
shares initially constituting such series shall be 25,000 which may be issued in
whole or fractional shares.

<PAGE>

         Section 2. Dividends and Distributions.
                    ----------------------------

         (a) The holders of Designated Series Shares shall be entitled to
receive dividends at a rate of three percent (3%) per annum of the liquidation
preference of $100 per share (the "Liquidation Preference"), which shall be
fully cumulative, prior and in preference to any declaration or payment of any
dividend (payable other than in shares of common stock, $.00025 par value per
share, of the Company (the "Common Stock")) or other distribution on the Common
Stock of the Company. The dividends on the Designated Series Shares shall accrue
from the date of issuance of each share and shall be payable semi-annually on
June 30 and December 30 of each year (each a "Dividend Date") commencing on June
30, 2002, except that if any such date is a Saturday, Sunday or legal holiday (a
"Non-Business Day") then such dividend shall be payable on the next day that is
not a Saturday, Sunday or legal holiday on which banks in the State of New York
are permitted to be closed (a "Business Day") to holders of record as they
appear on the stock books of the Company on the applicable record date, which
shall be not more than 50 nor less than 10 days preceding the payment date for
such dividends, as fixed by the Board of Directors (the "Record Date"). The
dividends on the Designated Series Shares shall be payable only when, as and if
declared by the Board of Directors out of funds legally available therefore.

         (b) The holders of Designated Series Shares shall not be entitled to
receive any dividends or other distributions except as provided in this
Certificate of Designation of Designated Series Shares.

         Section 3. Voting Rights.
                    --------------

         Except as provided by applicable law, the holders of the Designated
Series Shares shall have no voting rights.

         Section 4. Liquidation, Dissolution, Winding Up or Certain Mergers or
                    Consolidations.
                    ----------------------------------------------------------

         If the Company shall adopt a plan of liquidation or of dissolution, or
commence a voluntary case under the federal bankruptcy laws or any other
applicable state or federal bankruptcy, insolvency or similar law, or consent to
the entry of an order for relief in any involuntary case under such law or to
the appointment of a receiver, liquidator, assignee, custodian, trustee or
sequestrator (or similar official) of the Company or of any substantial part of
its property, or make an assignment for the benefit of its creditors, or admit
in writing its inability to pay its debts generally as they become due and on
account of such event the Company shall liquidate, dissolve or wind up, or upon
any other liquidation, dissolution or winding up of the Company, or, unless
approved by the holders of at least 50% of the outstanding Designated Series
Shares, engage in a merger, plan of reorganization or consolidation in which the
entity is not the surviving Company, then and in that event, no distribution
shall be made to the holders of shares of capital stock, unless, prior thereto,
the holders of the Designated Series Shares shall have first received an amount
in cash or equivalent value in securities or other consideration equal to the
Liquidation Preference thereof. If upon any liquidation, dissolution, winding
up, merger, plan of reorganization or consolidation, the amount so payable or
distributable does not equal or exceed the Liquidation Preference of the
Designated Series Shares, then, and in that event, the amount of cash so
payable, and amount of securities or other consideration so distributable, shall
be shared ratably among the holders of the Designated Series Shares. Solely for
the purposes of Section 4 and Section 5, the term "Liquidation Preference" shall
mean $100 per share with respect to each of the Designated Series Shares, plus
any and all accrued unpaid dividends thereon. After the holders of the
Designated Series Shares shall have received an amount in cash or equivalent
value in securities or other consideration equal to the Liquidation Preference
thereof pursuant to this Section 4, the holders of the Designated Series Shares
will not be entitled to participate in any further distribution of the assets of
the Company.

                                      -2-
<PAGE>

         Section 5. Conversion.
                    ------------

         (a)  Right To Convert:
              -----------------

                  (i) Subject to the provisions for adjustment hereinafter set
forth and the limitation of the number of shares of Common Stock issuable upon
conversion set forth in Section 5(a)(ii) below, commencing September 1, 2002,
each Designated Series Share shall be convertible in the manner hereinafter set
forth into fully paid and nonassessable shares of Common Stock, at the option of
the holder thereof, at any time at the principal office of the Company or any
transfer agent for the Designated Series Shares, into the number of fully paid
and nonassessable shares of Common Stock which results from dividing the
"Conversion Price" (as defined below) into the Liquidation Preference. The
"Conversion Price" shall be equal to $.50, subject to adjustment as provided
herein. Upon conversion, all accrued or declared but unpaid dividends on the
Designated Series Shares shall either be paid in cash, to the extent permitted
by applicable law or, at the option of the Holder in shares of Common Stock. The
conversion date (the "Conversion Date") shall be any date subsequent on which a
notice of conversion executed by Holder setting forth the number of Designated
Series Shares being converted is received via facsimile or hard copy by the
Corporation.

                  (ii) Notwithstanding anything contained herein to the
contrary, in no event (except while there is outstanding a tender offer for any
or all of the shares of the Company's Common Stock, a Notice of Redemption
pursuant to Section 7 hereof, or if the Company shall enter into any agreement
or understanding which may, directly or indirectly, cause or effect a change in
"control" as defined in Rule 405 under the Securities Act of 1933) shall any
holder of any Designated Series Shares be entitled to convert Designated Series
Shares, or shall the Company have the obligation to issue shares upon such
conversion or in payment of any dividends , to the extent that, after such
conversion the sum of (A) the number of shares of Common Stock beneficially
owned by such holder and its affiliates (other than shares of Common Stock which
may be deemed beneficially owned through the ownership of the unconverted
portion of the Designated Series Shares or unexercised portion of any warrants
or other securities convertible into shares of Common Stock of the Company
beneficially owned by such holder), and (B) the number of shares of Common Stock
issuable upon the conversion of the Designated Series Shares with respect to
which the determination of this proviso is being made, would result in
beneficial ownership by such holder and its affiliates of more than 9.99% of the
outstanding shares of Common Stock (after taking into account the shares to be
issued to such Holder upon such conversion). For purposes of the proviso to the
immediately preceding sentence, beneficial ownership shall be determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended
(the "1934 Act"), except as otherwise provided in clause (A) of such sentence.

                                      -3-
<PAGE>

                  (iii) Notwithstanding anything contained herein to the
contrary, without requisite shareholder approval as required by the listing
agreement of the American Stock Exchange, in no event shall any holder of any
Designated Series Shares be entitled to convert Designated Series Shares, or
shall the Company have the obligation to issue shares upon such conversion or in
payment of any dividends, to the extent that, the Company would have issued an
aggregate number of shares of Common Stock to the holders of Designated Series
Shares exceeding 19.9% of the shares of Common Stock issued and outstanding on
February 1, 2002 until such shareholder approval has been obtained.

         (b)      Adjustments to Conversion Price:
                  --------------------------------

                  (i) SUBDIVISIONS, COMBINATIONS, OR CONSOLIDATIONS OF COMMON
STOCK: In the event the outstanding shares of Common Stock shall be subdivided,
combined or consolidated, by stock split, stock dividend, combination or like
event, into a greater or lesser number of shares of Common Stock, the Conversion
Price in effect immediately prior to such subdivision, combination,
consolidation or stock dividend shall, concurrently with the effectiveness of
such subdivision, combination or consolidation, be proportionately adjusted.

                  (ii)RECLASSIFICATIONS: In the case, at any time after the date
hereof, of any capital reorganization or any reclassification of the stock of
the Company (other than as a result of a stock dividend or subdivision, split-up
or combination of shares), or the consolidation or merger of the Company with or
into another person (other than a consolidation or merger (i) in which the
Company is the continuing entity and which does not result in any change in the
Common Stock or (ii) which is treated as a liquidation pursuant to Section 4
hereof), the Designated Series Shares shall, after such reorganization,
reclassification, consolidation or merger be convertible into the kind and
number of shares of stock or other securities or property of the Company or
otherwise to which such holder would have been entitled if immediately prior to
such reorganization, reclassification, consolidation or merger such holder had
converted its Designated Series Shares into Common Stock. The provisions of this
Section 5(b)(ii) shall similarly apply to successive reorganizations,
reclassifications, consolidations or mergers.

                                      -4-
<PAGE>

                  (iii) SPIN OFFS: The Company agrees that for as long as any
Designated Series Shares remain outstanding, the Company will not, without the
consent of the Holders of a majority of the then outstanding Designated Series
Shares, spin off or otherwise divest itself of a part of its business or
operations or dispose all or of a part of its assets in a transaction (the "Spin
Off") in which the Company does not receive compensation for such business,
operations or assets, but causes securities of another entity (the "Spin Off
Securities") to be issued to security holders of the Company. If, for any
reason, prior to the Conversion Date, the Company, with the consent of the
Holders of a majority of the then outstanding Designated Series Shares,
consummates a Spin Off, then the Company shall cause (i) to be reserved Spin Off
Securities equal to the number thereof which would have been issued to the
Holder had all of the Holder's Designated Series Shares outstanding on the
record date (the "Record Date") for determining the amount and number of Spin
Off Securities to be issued to security holders of the Company (the "Outstanding
Designated Series Shares") been converted as of the close of business on the
trading day immediately before the Record Date (the "Reserved Spin Off Shares"),
and (ii) to be issued to the Holder on the conversion of all or any of the
Outstanding Designated Series Shares held by the Holder, such amount of the
Reserved Spin Off Shares equal to (x) the Reserved Spin Off Shares multiplied by
(y) a fraction, of which (I) the numerator is the number of the Outstanding
Designated Series Shares then being converted, and (II) the denominator is the
number of the Outstanding Designated Series Shares.

         (c)      Mechanics of Conversion.
                  -----------------------

                  (i) Before any holder of Designated Series Shares shall be
entitled to convert the same into shares of Common Stock, he shall telecopy an
executed and completed notice (each a "Notice of Conversion") to the
Corporation, [Telecopier No. (703) 352-5994; Attention: Chief Financial Officer
(or such other telecopy number as the Company shall specify from time to time by
notice to the holder)], specifying the number of shares of Series A Preferred
Stock to be converted, the Conversion Date, the name or names in which he wishes
the certificate or certificates for shares of Common Stock to be issued, and
such other information as the Corporation may reasonably request. The holder of
Designated Series Shares shall deliver within three (3) business days after
transmitting the Notice of Conversion by telecopy, the original Notice of
Conversion by express courier, with a copy to the Corporation's transfer agent.

                  (ii) The Corporation shall, at its expense, take all actions
and use all means necessary and diligent to cause its transfer agent to issue
and deliver a certificate or certificates representing the shares of Common
Stock issuable upon conversion of the Series A Preferred Stock (together with a
certificate or certificates representing the Designated Series Shares not being
so converted) to such holder of Designated Series Shares via express courier, by
electronic transfer or otherwise, within three (3) business days after the later
of (A) receipt by the transfer agent of the copy of the original Notice of
Conversion, and (B) the Conversion Date (the "Delivery Date").

                  (iii) Conversion shall be deemed to have been made immediately
prior to the close of business on the Conversion Date, and the person or persons
entitled to receive the shares of Common Stock issuable upon such conversion
shall be treated for all purposes as the record holders or holders of such
shares of Common Stock on such date.

                                      -5-
<PAGE>

                  (iv) Upon conversion, the Designated Series Shares shall be
deemed cancelled of record. The original certificate or certificates
representing the Designated Series Shares shall be delivered by the holder
thereof to the Corporation concurrently with delivery of the final Notice of
Conversion.

         (d) NO IMPAIRMENT. The Corporation will not, by amendment of its
Certificate of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed hereunder by the Corporation, but will at
all times in good faith assist in the carrying out of all the provisions of this
Section (5) and in the taking of all such action as may be necessary or
appropriate in order to protect the Conversion Rights of the holders of the
Designated Series Shares against impairment.

         (e) NOTICES OF RECORD DATE. In the event that the Corporation shall
propose at any time: (i) to declare any dividend or distribution upon its Common
Stock, whether in cash, property, stock or other securities, whether or not a
regular cash dividend and whether or not out of earnings or earned surplus; (ii)
to offer for subscription pro rata to the holders of any class or series of its
stock any additional shares of stock of any class or series or other rights;
(iii) to effect any reclassification or recapitalization of its Common Stock
outstanding involving a change in the Common Stock; or (iv) to merge or
consolidate with or into any corporation other than the Corporation's
subsidiaries, or sell, lease or convey all or substantially all of its assets,
or to liquidate, dissolve or wind up;

Then, in connection with each such event, the Corporation shall send to the
holders of Designated Series Shares: (1) at least twenty (20) days prior written
notice of the date on which a record shall be taken for such dividend,
distribution or subscription rights (and specifying the date on which the
holders of Common Stock shall be entitled thereto) or for determining rights to
vote, if any, in respect of the matters referred to in (iii) and (iv) above; and
(2) in the case of the matters referred to in (iii) and (iv) above, at least
twenty (20) days prior written notice of the date when the same shall take place
(and specifying the date on which the holders of Common Stock shall be entitled
to exchange their Common Stock for securities or other property deliverable upon
the occurrence of such event).

         (f) ISSUE TAXES. The Corporation shall pay any and all issue and other
taxes that may be payable in respect of any issue or delivery of shares of
Common Stock on conversion of shares of Designated Series Shares pursuant
hereto; provided, however, that the Corporation shall not be obligated to pay
any transfer taxes resulting from any transfer requested by any holder in
connection with any such conversion.

                                      -6-
<PAGE>

         (g) RESERVATION OF STOCK ISSUABLE UPON CONVERSION. The Corporation
shall at all times reserve and keep available out of its authorized but unissued
shares of Common Stock, solely for the purpose of effecting the conversion of
the shares of the Designated Series Shares, such number of its shares of Common
Stock as shall from time to time be sufficient to effect the conversion of all
outstanding shares of the Designated Series Shares; and if at any time the
number of authorized but unissued shares of Common Stock shall not be sufficient
to effect the conversion of all then outstanding shares of the Designated Series
Shares, the Corporation will take such corporate action as may, in the opinion
of its counsel, be necessary to increase its authorized but unissued shares of
Common Stock to such number of shares as shall be sufficient or such purpose,
including, without limitation, engaging in best efforts to obtain the requisite
stockholder approval of any necessary amendment to the Articles of
Incorporation.

                  (h) FRACTIONAL SHARES. In lieu of any fractional shares to
which the holder of a Designated Series Share would otherwise be entitled upon
conversion, the Company shall pay cash equal to such fraction multiplied by the
fair market value of one share of Common Stock as determined by the Board of
Directors in the good faith exercise of its reasonable business judgment.

              Section 6. Reports as to Adjustments.
                         -------------------------

         Whenever the Conversion Price or the type of securities, cash or other
property into which the Designated Series Shares may be converted is adjusted as
provided in Section 5 hereof, the Company shall promptly mail to the holders of
record of the outstanding Designated Series Shares at their respective addresses
as the same shall appear in the Company's stock records, a notice stating that
the Conversion Price has been adjusted and setting forth the new number of
shares of Common Stock (or describing the new stock, securities, cash or other
property) into which each Designated Series Share is convertible as a result of
such adjustment, a brief statement of the facts requiring such adjustment and
the computation thereof and when such adjustment became effective.

              Section 7. Redemption.
                         -----------

         (a) All or any portion of the Designated Series Shares may be redeemed
at any time by the Company at its sole discretion upon payment of $732.60 per
Designated Series Share, plus accrued and unpaid dividends thereon (the
"Redemption Price"), provided that: (i) the Company's shares of Common Stock
shall be eligible for quotation and trading on the OTC Electronic Bulletin
Board, on a national securities exchange, the NASDAQ National Market System or
the NASDAQ SmallCap Market on the "Redemption Date" (as hereinafter defined);
and (ii) the shares of Common Stock issuable upon conversion of the Designated
Series Shares shall be subject to an effective registration statement permitting
their resale under the Securities Act of 1933, as amended, or are freely
transferable pursuant to Rule 144(k). Notwithstanding the foregoing in the event
the Company is limited in the number of shares of Common Stock it may issue by
virtue of (i) the number of authorized shares or (ii) the applicable rules and
regulations of the principal securities market on which the Common Stock is
listed or traded, including, but not necessarily limited to, the Listing Rules
of the Principal Market, as may be applicable (collectively, the "Cap
Regulations") it shall, to the extent of funds legally available therefore,
redeem all of the outstanding Designated Series Shares upon payment of the
Redemption Price.

                                      -7-
<PAGE>

         (b) Any notice of redemption ("Redemption Notice") given by the Company
with respect to the Designated Series Shares shall be delivered by mail, first
class postage prepaid, to each holder of record (at the close of business on the
business day preceding the day on which notice is given) of the Designated
Series Shares, at the address last shown on the records of the Company for such
holder or given by the holder to the Company, for the purpose of notifying such
holder of the redemption to be effected. The Redemption Notice shall specify a
date (the "Redemption Date") not earlier than five (5) nor later than ten (10)
days after the mailing of the Redemption Notice on which the Designated Series
Shares then outstanding shall be redeemed and the place at which payment may be
obtained, which shall be the principal offices of the Company. The Redemption
Notice shall call upon each holder of Designated Series Shares to either (i)
surrender to the Company, in the manner and at the place designated, such
holder's certificate or certificates representing the Designated Series Shares
to be redeemed or (ii) unless limited by the rules of the Principal Market
convert, in whole or in part, the Designated Series Shares into Common Stock
prior to the Redemption Date in accordance with the provisions of Section 5
above. If the Company elects to redeem shares pursuant to this Section 7 and
defaults or fails to perform its redemption obligations pursuant to this Section
7 in connection therewith, the holders of the Designated Series Shares shall
then have the absolute right to convert such Designated Series Shares into
Common Stock in accordance with the provisions of Section 5.

         (c) On the Redemption Date, the Company shall pay by cash or wire
transfer of immediately available funds to the person whose name appears on the
certificate or certificates of the Designated Series Shares that (i) shall not
have been converted pursuant to Section 5 hereof and (ii) shall have been
surrendered to the Company in the manner and at the place designated in the
Redemption Notice, the Redemption Price, and thereupon each surrendered
certificate shall be canceled.

         (d) From and after the Redemption Date, unless there shall have been
default in payment of the Redemption Price, all rights of the holders of the
Designated Series Shares (except the right to receive the Redemption Price
subsequent to the Redemption Date upon surrender of their certificate or
certificates) shall cease with respect to such shares, and such shares shall not
thereafter be transferred on the books of the Company or be deemed to be
outstanding for any purpose whatsoever. Furthermore, in the event such
Redemption Payment is not timely made, any rights of the Company to redeem
Designated Series Shares shall terminate, and the Notice of Redemption shall be
null and void.

                                      -8-
<PAGE>

         Section 8. Reacquired Shares.
                    -----------------

         Any Designated Series Shares converted, purchased or otherwise acquired
by the Company in any manner whatsoever shall be retired and canceled promptly
after the conversion or acquisition thereof, and, if necessary to provide for
the lawful purchase of such shares, the capital represented by such shares shall
be reduced in accordance with the DISTRICT OF COLUMBIA BUSINESS CORPORATION ACT.
All such shares shall upon their cancellation become authorized but unissued
shares of Preferred Stock, $.01 par value, of the Company and may be reissued as
part of another series of Preferred Stock, $.01 par value, of the Company.

         THIRD: These Articles of Amendment to State Terms of Series Shares were
adopted on February 1, 2002.

         FOURTH: These Articles of Amendment to the Articles of Incorporation to
State Terms of Series Shares were duly adopted by the Board of Directors of the
Corporation.

         IN WITNESS WHEREOF, Eurotech, Ltd. has caused these Articles of
Amendment to the Articles of Incorporation to State Terms of Series Shares to be
signed in its name and on its behalf by its President on the 1st day of February
2002.

                                             EUROTECH, LTD.

                                             By /s/ Don V. Hahnfeldt
                                                ----------------------------
                                                Don V. Hahnfeldt, President

                                      -9-<PAGE>

                                  Exhibit 10.1

CONTACTS

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

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

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

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

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

       Underwriter(s):         Lehman Brothers Securities Corporation - Underwriter      Distribution Date:       January 15, 2002
                                                                                         Record Date:             January 14, 2002

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

<PAGE>

                    GreenPoint Home Equity Loan Trust 2001-1
                   Home Equity Loan Asset-Backed Certificates
                                  Series 2001-1
          Certificate Payment Report for January 15, 2002 Distribution

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

  A-1    FLT,STEP   196,178,000.00   147,907,439.61   252,072.36  7,856,314.44   8,108,386.80        -       -      140,051,125.16
  A-2    FLT,STEP   106,801,000.00    82,557,089.28   141,363.58  2,609,402.92   2,750,766.50        -       -       79,947,686.37
   R         R                   -                - 1,057,873.90             -   1,057,873.90        -       -                   -

------------------------------------------------------------------------------------------------------------------------------------
 Total              302,979,000.00   230,464,528.89 1,451,309.84 10,465,717.36  11,917,027.20        -       -      219,998,811.53
------------------------------------------------------------------------------------------------------------------------------------

<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    12/17/01  01/14/02  A-Act/360   395385AJ6   196,178,000.00   753.945089   1.284917    40.046868    41.331784     713.898221
  A-2    12/17/01  01/14/02  A-Act/360   395385AK3   106,801,000.00   772.999216   1.323617    24.432383    25.755999     748.566833
   R                             -                                -            -          -            -            -              -
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
Distribution in Dollars - to Date
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                            Current
            Original                   Unscheduled     Scheduled      Total         Total          Realized    Deferred    Principal
 Class     Face Value     Interest      Principal      Principal    Principal    Distribution       Losses     Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
              (1)            (2)           (3)            (4)      (5)=(3)+(4)    (6)=(2)+(5)        (7)         (8)     (9)=(1)-(5)
                                                                                                                          -(7)+(8)
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>             <C>           <C>             <C>         <C>           <C>               <C>         <C>         <C>

  A-1    196,178,000.00  5,046,834.23   53,747,723.03  2,379,151.81  56,126,874.84  61,173,709.07     -           -   140,051,125.16
  A-2    106,801,000.00  2,784,429.76   25,610,122.51  1,243,191.13  26,853,313.64  29,637,743.40     -           -    79,947,686.37
   R                  -  5,146,510.02               -             -              -   5,146,510.02     -           -                -
------------------------------------------------------------------------------------------------------------------------------------
 Total   302,979,000.00 12,977,774.01   79,357,845.53  3,622,342.94  82,980,188.47  95,957,962.49     -           -   219,998,811.53
------------------------------------------------------------------------------------------------------------------------------------

<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     2.11563%    147,907,439.61     252,072.36        -            -            -          252,072.36      252,072.36     -
  A-2     2.12563%     82,557,089.28     141,363.58        -            -            -          141,363.58      141,363.58     -
   R                               -              -        -            -            -                   -    1,057,873.90     -

------------------------------------------------------------------------------------------------------------------------------------
 Total                230,464,528.89     393,435.94        -            -            -          393,435.94    1,451,309.84     -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

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

SUMMARY                                                                               POOL II          POOL I         TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>             <C>             <C>
    Net Principal Collections                                                      2,389,613.82    7,742,167.79    10,131,781.61

    TOTAL PRINCIPAL                                                                2,389,613.82    7,742,167.79    10,131,781.61

    Interest Collections                                                             593,493.89    1,093,134.79     1,686,628.68
    Interest Fees                                                                    (12,731.23)     (22,338.33)      (35,069.56)

    TOTAL INTEREST                                                                   580,762.66    1,070,796.46     1,651,559.12

    TOTAL AVAILABLE FUNDS                                                          2,970,376.48    8,812,964.25    11,783,340.73

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

<CAPTION>
PRINCIPAL - COLLECTIONS                                                               POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>             <C>             <C>
    Principal Collections                                                          4,532,592.81    9,297,033.41    13,829,626.22
    Repurchases/Substitutions                                                              0.00            0.00             0.00
    Liquidations                                                                      48,206.33      300,055.90       348,262.23
    Insurance Principal                                                                    0.00            0.00             0.00
    Liquidation Loss Amounts                                                               0.00      (49,989.61)      (49,989.61)
    Additional Balances                                                           (2,191,185.32)  (1,804,931.91)   (3,996,117.23)

    TOTAL PRINCIPAL COLLECTED                                                      2,389,613.82    7,742,167.79    10,131,781.61

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

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

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

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

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

<CAPTION>
INTEREST - COLLECTIONS                                                                POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                  <C>           <C>              <C>
    Interest Collections                                                             628,230.68    1,153,710.53     1,781,941.21
    Repurchases/Substitutions                                                              0.00            0.00             0.00
    Liquidations                                                                         261.12        2,631.98         2,893.10
    Insurance                                                                              0.00            0.00             0.00
    Interest
    Other Additional Interest                                                              0.00         (97.25)          (97.25)
    Current Servicing Fee                                                            (34,997.91)     (63,110.47)      (98,108.38)

    TOTAL INTEREST                                                                   593,493.89    1,093,134.79     1,686,628.68

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

<PAGE>

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

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

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

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

<CAPTION>
INTEREST - FEES                                                                              POOL II          POOL I       TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                        <C>             <C>           <C>

    Trustee Fee                                                                               559.97        1,009.77      1,569.74
    Certificate Insurer Premium                                                            11,992.15       21,007.67     32,999.82
    Management Fee                                                                            179.11          320.89        500.00

    TOTAL INTEREST  FEES                                                                   12,731.23       22,338.33     35,069.56

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

<PAGE>

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

ACCOUNTS                                                                                  POOL II          POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                       <C>              <C>               <C>
    Beginning Reserve Fund Balance                                                                                    1,656,231.18
    Curr Period Amounts Dep to Res Fund                                                                                 924,687.43
    Curr Withdrawal from Reserve Fund                                                                                 1,057,873.90
    Reserve Fund Balance                                                                                              2,580,918.61

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

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

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

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

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

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

<CAPTION>
STRUCTURAL FEATURES                                                                       POOL II          POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                  <C>             <C>              <C>

    Three Month Average Net Excess Spread Amount                                           6.7297%         7.0886%
    Rolling Six-month Pool Delinquency Rate                                                0.0000%         0.0000%

    Prior Overcollateralization Amount                                               1,437,888.52    3,557,677.71     4,995,566.23
    Specified Overcollateralization Amount                                           3,180,722.34    3,621,834.75     6,802,557.09
    Overcollateralization Amount                                                     1,657,677.62    3,621,834.76     5,279,512.38
    Overcollateralization Deficiency Amount                                          1,523,044.72            0.00     1,523,044.72

    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                                              219,789.10      114,146.65       333,935.75
    Cumulative Accelerated Principal Payment                                         2,194,774.02    3,767,635.91     5,962,409.92

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

<PAGE>

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

COLLATERAL                                                                              POOL II            POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                     <C>                <C>               <C>
      Loan Count:
    Original                                                                               1191              4428             5619
    Prior                                                                                   884             3,308            4,192
    Prefunding                                                                                -                 -                -
    Scheduled Paid Offs                                                                       -                 -                -
    Full Voluntary Prepayments                                                              (32)             (165)            (197)
    Repurchases                                                                               -                 -                -
    Liquidations                                                                             (1)               (7)              (8)
    -------------------------------------------------------------------------------------------------------------------------------
    Current                                                                                 851             3,137            3,988

    Principal Balance:
    Original                                                                     106,801,182.40    196,178,327.60   302,979,510.00
    Prior                                                                         83,994,977.80    151,465,117.32   235,460,095.12
    Prefunding                                                                                -                 -                -
    Scheduled Principal                                                             (162,092.03)      (329,270.81)     (491,362.84)
    Partial and Full Voluntary Prepayments                                        (4,370,500.78)    (8,967,762.60)  (13,338,263.38)
    Repurchases                                                                               -                 -                -
    Liquidations                                                                     (48,206.33)      (300,055.90)     (348,262.23)
    -------------------------------------------------------------------------------------------------------------------------------
    Current                                                                       81,605,363.98    143,672,959.92   225,278,323.90
-----------------------------------------------------------------------------------------------------------------------------------

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

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

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

    Weighted Average Coupon Original                                                   9.879188%        10.019075%        9.969764%
    Weighted Average Coupon Prior                                                      0.086633%         0.088503%        0.087836%
    Weighted Average Coupon Current                                                    8.683440%         8.858548%        8.796083%
    -------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                                            189               195              193
    Weighted Average Months to Maturity Prior                                               179               187              184
    Weighted Average Months to Maturity Current                                             178               186              183
    -------------------------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                                       196               213              207
    Weighted Avg Remaining Amortization Term Prior                                          183               204              196
    Weighted Avg Remaining Amortization Term Current                                        182               203              195
    -------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                                    2.92              3.09             3.03
    Weighted Average Seasoning Prior                                                       8.92              9.18             9.08
    Weighted Average Seasoning Current                                                     9.92             10.17            10.08

-----------------------------------------------------------------------------------------------------------------------------------
</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                                                        301.511%          231.365%
    Weighted Average Margin Current                                                      301.040%          231.330%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                                                    17.033%           14.638%
    Weighted Average Max Rate Prior                                                       17.396%           15.020%
    Weighted Average Max Rate Current                                                     17.398%           15.106%
    --------------------------------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                                                     2.930%            2.281%
    Weighted Average Min Rate Prior                                                        3.015%            2.314%
    Weighted Average Min Rate Current                                                      3.010%            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.

<CAPTION>
SERVICING FEES / ADVANCES                                                              POOL II           POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                   <C>               <C>              <C>

    TOTAL SERVICING FEE                                                               34,997.91         63,110.47        98,108.38

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

<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                                       POOL II            POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                             <C>                                     <C>                <C>               <C>
                                                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                                       5,220,455.09      853,386.60      123,935.02     6,197,776.71
                     % Balance                                             2.32%           0.38%           0.06%            2.75%
                     # Loans                                                 90              18               3              111
                     % # Loans                                             2.26%           0.45%           0.08%            2.78%
-----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                         227,407.02      233,315.32       92,049.03    3,680,490.01     4,233,261.38
                     % Balance                             0.10%           0.10%           0.04%           1.63%            1.88%
                     # Loans                                  3               4               2              51               60
                     % # Loans                             0.08%           0.10%           0.05%           1.28%            1.50%
-----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                         324,285.32       37,419.79               -      660,835.48     1,022,540.59
                     % Balance                             0.14%           0.02%           0.00%           0.29%            0.45%
                     # Loans                                  5               1               -               7               13
                     % # Loans                             0.13%           0.03%           0.00%           0.18%            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                         551,692.34    5,491,190.20      945,435.63    4,465,260.51    11,453,578.68
                     % Balance                             0.24%           2.44%           0.42%           1.98%            5.08%
                     # Loans                                  8              95              20              61              184
                     % # Loans                             0.20%           2.38%           0.50%           1.53%            4.61%
-----------------------------------------------------------------------------------------------------------------------------------

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                                       3,444,294.92      629,368.20      113,961.80     4,187,624.92
                     % Balance                                             2.40%           0.44%           0.08%            2.91%
                     # Loans                                                 73              14               2               89
                     % # Loans                                             2.33%           0.45%           0.06%            2.84%
-----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                         227,407.02      208,375.11       92,049.03    2,012,239.64     2,540,070.80
                     % Balance                             0.16%           0.15%           0.06%           1.40%            1.77%
                     # Loans                                  3               3               2              41               49
                     % # Loans                             0.10%           0.10%           0.06%           1.31%            1.56%
-----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                         324,285.32       37,419.79               -      354,009.48       715,714.59
                     % Balance                             0.23%           0.03%           0.00%           0.25%            0.50%
                     # Loans                                  5               1               -               6               12
                     % # Loans                             0.16%           0.03%           0.00%           0.19%            0.38%
------------------------------------------------------------------------------------------------------------------------------------
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                         551,692.34    3,690,089.82      721,417.23    2,480,210.92     7,443,410.31
                     % Balance                             0.38%           2.57%           0.50%           1.73%            5.18%
                     # Loans                                  8              77              16              49              150
                     % # Loans                             0.26%           2.45%           0.51%           1.56%            4.78%
------------------------------------------------------------------------------------------------------------------------------------

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>           <C>
DELINQUENT           Balance                                           1,776,160.17      224,018.40        9,973.22    2,010,151.79
                     % Balance                                                 2.18%           0.27%           0.01%           2.46%
                     # Loans                                                     17               4               1              22
                     % # Loans                                                 2.00%           0.47%           0.12%           2.59%
------------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                      -       24,940.21               -    1,668,250.37    1,693,190.58
                     % Balance                                 0.00%           0.03%           0.00%           2.04%           2.07%
                     # Loans                                      -               1               -              10              11
                     % # Loans                                 0.00%           0.12%           0.00%           1.18%           1.29%
------------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                                      -               -               -      306,826.00      306,826.00
                     % Balance                                 0.00%           0.00%           0.00%           0.38%           0.38%
                     # Loans                                      -               -               -               1               1
                     % # Loans                                 0.00%           0.00%           0.00%           0.12%           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                                      -    1,801,100.38      224,018.40    1,985,049.59    4,010,168.37
                     % Balance                                 0.00%           2.21%           0.27%           2.43%           4.91%
                     # Loans                                      -              18               4              12              34
                     % # Loans                                 0.00%           2.12%           0.47%           1.41%           4.00%
------------------------------------------------------------------------------------------------------------------------------------

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

<PAGE>

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

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

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

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

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

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

<PAGE>

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

VOLUNTARY PREPAYMENTS                                                                        POOL II          POOL I          TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>             <C>           <C>
    Current
    Number of Paid in Full Loans                                                                  32             165            197
    Number of Repurchased Loans                                                                    -               -              -
    --------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                         32             165            197

    Paid in Full Balance                                                                3,513,101.08    7,756,083.85  11,269,184.93
    Repurchased Loans Balance                                                                      -               -              -
    Curtailments Amount                                                                   857,399.70    1,211,678.75   2,069,078.45
    --------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                             4,370,500.78    8,967,762.60  13,338,263.38

    Cumulative
    Number of Paid in Full Loans                                                                 336           1,263          1,599
    Number of Repurchased Loans                                                                    -               -              -
    --------------------------------------------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                                                        336           1,263          1,599

    Paid in Full Balance                                                               35,448,346.34   63,028,805.45  98,477,151.79
    Repurchased Loans Balance                                                                      -               -              -
    Curtailments Amount                                                                15,952,038.44   17,121,946.19  33,073,984.63
    --------------------------------------------------------------------------------------------------------------------------------
    Total Prepayment Amount                                                            51,400,384.78   80,150,751.64 131,551,136.42

                                                SPACE INTENTIONALLY LEFT BLANK

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

VOLUNTARY PREPAYMENT RATES                                                                   POOL II          POOL I          TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                          <C>             <C>            <C>
    SMM                                                                                         5.21%           5.93%          5.68%
    3 Months Avg SMM                                                                            5.99%           5.66%          5.77%
    12 Months Avg SMM
    Avg SMM Since Cut-off                                                                       5.85%           5.05%          5.34%

    CPR                                                                                        47.40%          52.00%         50.41%
    3 Months Avg CPR                                                                           52.35%          50.27%         51.02%
    12 Months Avg CPR
    Avg CPR Since Cut-off                                                                      51.48%          46.34%         48.21%

    PSA                                                                                      2388.54%        2555.72%       2499.56%
    3 Months Avg PSA Approximation                                                           2932.82%        2738.31%       2806.78%
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                                                      4037.72%        3520.02%       3703.88%

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

<PAGE>

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

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

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

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

    Average CPR over period between the nth month and mth month (AvgCPRn,m):
    1-((1-AvgSMMn,m)~12)

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

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

    Weighted Average Seasoning (WAS)

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

<PAGE>

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

COLLATERAL REALIZED LOSSES                                                                   POOL II          POOL I          TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                      <C>           <C>             <C>
    Current
    Number of Loans Liquidated                                                                    1               7               8
    Collateral Realized Loss/(Gain) Amount                                                        -       49,989.61       49,989.61
    Net Liquidation Proceeds                                                              48,206.33      250,066.29      298,272.62

    Cumulative
    Number of Loans Liquidated                                                                    4              33              37
    Collateral Realized Loss/(Gain) Amount                                               537,278.80      146,128.75      683,407.55
    Net Liquidation Proceeds                                                             126,072.83    1,371,444.60    1,497,517.43

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

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

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

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

<CAPTION>

DEFAULT SPEEDS                                                                               POOL II          POOL I          TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                          <C>              <C>             <C>
    MDR                                                                                        0.06%           0.20%           0.15%
    3 Months Avg MDR                                                                           0.25%           0.24%           0.24%
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                                      0.08%           0.10%           0.10%

    CDR                                                                                        0.69%           2.35%           1.76%
    3 Months Avg CDR                                                                           2.98%           2.85%           2.90%
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                                      1.00%           1.22%           1.15%

    SDA                                                                                        3.46%          11.56%           8.73%
    3 Months Avg SDA Approximation                                                            16.69%          15.54%          15.94%
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                                        7.87%           9.30%           8.80%

    Loss Severity Approximation for Current Period                                             0.00%          16.66%          14.35%
    3 Months Avg Loss Severity Approximation                                                  33.33%          14.47%          29.34%
    12 Months Avg Loss Severity Approximation
    Avg Loss Severity Approximation Since Cut-off                                             33.33%           9.88%          18.80%

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

<PAGE>

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

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

   SDA Standard Default Assumption: CDR/IF(WAS**61,MIN(30,WAS)*0.02,MAX(0.03,MIN
   (30,WAS)*0.02-0.0095*(WAS-60)))

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

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

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

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

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

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

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

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

         Dates correspond to distribution dates.
--------------------------------------------------------------------------------

<PAGE>

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

 SUMMARY                                                                  LOAN GROUP
---------------------------------------------------------                -----------------------------------------------------------
<S>                                                                       <C>
 Total Loan Count =  8                                                    Loan Group 1  =  Pool I Group
 Total Original Principal Balance =  133,000.00                           Loan Group 2  =  Pool II Group
 Total Prior Principal Balance =  348,262.23
 Total Realized Loss Amount =  49,989.61
 Total Net Liquidation Proceeds =  298,272.62
---------------------------------------------------------                -----------------------------------------------------------

<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>

   101452886 1                         -      46,875.04        -            10.250%     CA  -  39.55%       180         Sep-29-00
   101700268 1                         -      37,381.30        -            13.375%     TN  -  70.00%       180         Sep-29-00
   102134863 1                 48,000.00      47,074.44        -             9.000%     CA  -  70.63%       180         Dec-18-00
   102181294 1                 35,000.00      49,989.61        -             5.875%     CA  -  73.97%       180         Dec-19-00
   102185519 1                         -      35,817.16        -            12.500%     CA  -  65.79%       180         Jan-18-01
   102218021 1                         -      37,923.62        -            14.250%     CA  -  79.89%       180         Dec-27-00
   102462611 1                         -      44,994.73        -            10.500%     CA  -  64.40%       180         Feb-08-01
   101916286 2                 50,000.00      48,206.33        -             6.500%     CA  -  52.16%       180         Dec-13-00

------------------------------------------------------------------------------------------------------------------------------------
</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>               <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                                                     1               2                3
   Balance of Mort. Loans Delinq. 90 -119 days                                             9,973.22      113,961.80       123,935.02
   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                                                         5              22               27
   Balance of ALL Loans 180 day plus bucket                                              580,884.50      946,646.83     1,527,531.33
   Management Fee Accrued and Unpaid                                                       1,611.99        2,888.01         4,500.00

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

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