Document:

<PAGE>

                                 Exhibit 10.1

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

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

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

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

ISSUANCE INFORMATION
<TABLE>
-------------------------------------------------------------------------------------------------------------------------
       <S>                     <C>                                                <C>                     <C>
       Seller:                 Greenpoint Mortgage                                Cut-Off Date:            May 31, 2000
       Certificate Insurer:    AMBAC Assurance Corporation                        Closing Date:           June 29, 2000
       Servicer(s):            Greenpoint Mortgage - Master Servicer              First Payment Date:     July 17, 2000

       Underwriter(s):         Greenwich Capital Markets, Inc. - Underwriter      Distribution Date:      July 17, 2000
                                                                                  Record Date:            July 14, 2000
                                                                                                          June 30, 2000

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

                   GreenPoint Home Equity Loan Trust 2000-1
                   Home Equity Loan Asset-Backed Securities
                                 Series 2000-1
           Certificate Payment Report for July 17, 2000 Distribution

Distribution in Dollars - Current Period

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                          Prior                                                                           Current
           Class         Original       Principal                                     Total       Realized Deferred    Principal
 Class     Type         Face Value       Balance        Interest      Principal    Distribution    Losses  Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
                                           (1)             (2)           (3)       (4)=(2)+(3)       (5)   (6)        (7)=(1)-(3)-
                                                                                                                        (5)+(6)
------------------------------------------------------------------------------------------------------------------------------------
  <S>    <C>          <C>              <C>              <C>          <C>           <C>            <C>      <C>        <C>
  A-1    FLT,STEP     244,172,000.00   244,172,000.00    830,642.62  1,834,136.64   2,664,779.26         -        -   242,337,863.36

  A-2    FLT,STEP     108,598,000.00   108,598,000.00    375,952.70  2,696,082.37   3,072,035.07                      105,901,917.63
                                                                                                         -        -
   R                               -                -             -             -              -         -        -                -

------------------------------------------------------------------------------------------------------------------------------------
 Total                352,770,000.00   352,770,000.00  1,206,595.32  4,530,219.01   5,736,814.33         -        -   348,239,780.99
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Interest Accrual Detail                        Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------

                                                            Orig.
                                                       Princiapl        Prior                                            Current
        Period  Period                              (with Notional)   Principal                              Total     Principal
 Class Starting Ending    Method         Cusip          Balance        Balance     Interest    Principal   Distribution   Balance
------------------------------------------------------------------------------------------------------------------------------------
                                                                         (1)          (2)         (3)      (4)=(2)+(3)       (5)
------------------------------------------------------------------------------------------------------------------------------------
  <S>  <C>      <C>     <C>          <C>          <C>              <C>             <C>         <C>         <C>          <C>
  A-1                   A-Act/360    3133TPCHO    244,172,000.00   1,000.000000    3.401875    7.511658      10.913533   992.488342
  A-2                   A-Act/360    395385AC1    108,598,000.00   1,000.000000    3.461875    24.826262     28.288137   975.173738
   R                         -                                 -              -           -           -              -            -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

Distribution in Dollars - to Date
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                          Current
          Original                   Unscheduled     Scheduled        Total           Total      Realized   Deferred    Principal
 Class    Face Value   Interest       Principal      Principal      Principal      Distribution    Losses   Interest     Balance
------------------------------------------------------------------------------------------------------------------------------------
             (1)         (2)              (3)           (4)         (5)=(3)+(4)    (6)=(2)+(5)       (7)       (8)    (9)=(1)-(5)-
                                                                                                                         (7)+(8)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>              <C>                     <C> <C>             <C>             <C>                    <C>    <C> <C>
  A-1  244,172,000.00   830,642.62              -   1,834,136.64    1,834,136.64    2,664,779.26           -      -   242,337,863.36
  A-2  108,598,000.00   375,952.70              -   2,696,082.37    2,696,082.37    3,072,035.07           -      -   105,901,917.63
   R                -            -              -              -               -               -           -      -               -

------------------------------------------------------------------------------------------------------------------------------------
 Total 352,770,000.00 1,206,595.32              -   4,530,219.01    4,530,219.01    5,736,814.33           -       - 348,239,780.99
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Interest Detail
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
          Pass-    Prior Principal                      Non-          Prior       Unscheduled                   Paid or     Current
         Through   (with Notional)    Accrued       Supported        Unpaid       Interest       Optimal       Deferred      Unpaid
 Class     Rate        Balance        Interest     Interest SF      Interest     Adjustments    Interest       Interest     Interest
------------------------------------------------------------------------------------------------------------------------------------
                                        (1)            (2)            (3)            (4)       (5)=(1)-            (6)   (7)=(5)-(6)
                                                                                             (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------
<S>       <C>       <C>                <C>         <C>              <C>          <C>         <C>                <C>      <C>
  A-1     6.80375%  244,172,000.00     830,642.62              -              -             -    830,642.62     830,642.62         -
  A-2     6.92375%  108,598,000.00     375,952.70              -              -             -    375,952.70     375,952.70         -

   R                      -                     -              -              -             -             -              -         -
------------------------------------------------------------------------------------------------------------------------------------

 Total              352,770,000.00   1,206,595.32              -              -             -  1,206,595.32   1,206,595.32         -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

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

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

    Net Principal Collections                                                         2,336,289.55      989,385.66     3,325,675.2

    TOTAL PRINCIPAL                                                                   2,336,289.55      989,385.66     3,325,675.21

    Interest Collections                                                                790,449.45    1,805,601.11     2,596,050.56
    Interest Fees                                                                        16,690.55       47,700.89        64,391.44

    TOTAL INTEREST                                                                      773,758.90    1,757,900.22     2,531,659.12

    TOTAL AVAILABLE FUNDS                                                             3,110,048.45    2,747,285.88     5,857,334.33

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

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

    Principal Collections                                                          6,565,736.22    8,537,238.17    15,102,974.39
    Repurchases/Substitutions                                                              0.00            0.00             0.00
    Liquidations                                                                           0.00            0.00             0.00
    Insurance Principal                                                                    0.00            0.00             0.00
    Liquidation Loss Amounts                                                               0.00            0.00             0.00
    Additional Balances                                                           (4,229,446.67)  (7,547,852.51)  (11,777,299.18)

    TOTAL PRINCIPAL COLLECTED                                                      2,336,289.55      989,385.66     3,325,675.21

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

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

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

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

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

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

    Interest Collections                                                             828,462.83    1,888,107.73     2,716,570.56
    Repurchases/Substitutions                                                              0.00            0.00             0.00
    Liquidations                                                                           0.00            0.00             0.00
    Insurance Interest                                                                     0.00            0.00             0.00
    Other Additional Interest                                                              0.00            0.00             0.00
    Current Servicing Fee                                                            38,013.38)     (82,506.62)     (120,520.00)

    TOTAL INTEREST                                                                   790,449.45    1,805,601.11     2,596,050.56

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

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

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

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

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

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

    Trustee Fee                                                                          853.34        1,918.64         2,771.98
    Certificate Insurer Premium                                                       15,837.21       35,608.42        51,445.63
    Guarantee Fee                                                                          0.00       10,173.83        10,173.83

    TOTAL INTEREST FEES                                                               16,690.55       47,700.89        64,391.44

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

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

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

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

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

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

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

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

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

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

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

    Current Delinquency Percentage                                 0.0000%         0.0000%          0.0000%
    Rolling Delinquency Percentage                                 0.0000%         0.0000%          0.0000%

    Prior Overcollateralization Amount                                0.00            0.00            0.00
    Specified Overcollateralization Amount                    2,425,281.26    5,452,977.96    7,878,259.22
    Overcollateralization Amount                                      0.00            0.00            0.00
    Overcollateralization Deficiency Amount                   2,425,281.26    5,452,977.96    7,878,259.22

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

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

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

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

COLLATERAL                                                           POOL II              POOL I            TOTAL
-----------------------------------------------------------------------------------------------------------------
<S>                                                            <C>                <C>              <C>
      Loan Count:
    Original                                                            1258                5996             7254
    Prior                                                                  -                   -                -
    Prefunding                                                             -                   -                -
    Scheduled Paid Offs                                                    -                   -                -
    Full Voluntary Prepayments                                           (33)                (92)            (125)
    Repurchases                                                            -                   -                -
    Liquidations                                                           -                   -                -
    -------------------------------------------------------------------------------------------------------------
    Current                                                             1,225              5,904            7,129

    Principal Balance:
    Original                                                   107,790,278.12     242,354,576.15   350,144,854.27
    Prior                                                                   -                  -                -
    Prefunding                                                              -                  -                -
    Scheduled Principal                                         (3,051,023.88)     (4,087,202.69)   (7,138,226.57)
    Partial and Full Voluntary Prepayments                         714,734.33       3,097,817.03     3,812,551.36
    Repurchases                                                             -                  -                -
    -------------------------------------------------------------------------------------------------------------
    Liquidations                                                            -                  -                -
    Current                                                    105,453,988.57     241,365,190.49   346,819,179.06
-----------------------------------------------------------------------------------------------------------------

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

-----------------------------------------------------------------------------------------------------------------
The Pool Balances reported above correctly state Current and Prior, but do not accurately reflect component
activity of the HELOC Loans.

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

    Weighted Average Coupon Original                                8.977391%          8.748905%        8.819243%
    Weighted Average Coupon Prior
    Weighted Average Coupon Current                                 8.977391%          8.748905%        8.819243%
    ------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                           -                167              116
    Weighted Average Months to Maturity Prior                              -                  -                -
    Weighted Average Months to Maturity Current                            -                167              116
    ------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original                    186                161              169
    Weighted Avg Remaining Amortization Term Prior                         -                  -                -
    Weighted Avg Remaining Amortization Term Current                     186                161              169
    ------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                                 2.71               2.76             2.74
    Weighted Average Seasoning Prior                                       -                  -                -
    Weighted Average Seasoning Current                                  2.71               2.76             2.74
----------------------------------------------------------------------------------------------------------------
</TABLE>
Note:  Original information refers to deal issue.
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
                                          Collateral Report Cont.
----------------------------------------------------------------------------------------------------------

ARM CHARACTERISTICS                                              POOL II          POOL I           TOTAL
----------------------------------------------------------------------------------------------------------
<S>                                                              <C>             <C>            <C>
    Weighted Average Margin Original                              2.380%          2.530%
    Weighted Average Margin Prior
    Weighted Average Margin Current                               2.380%          2.530%
    ------------------------------------------------------------------------------------------------------
    Weighted Average Max Rate Original                           17.181%         17.075%
    Weighted Average Max Rate Prior
    Weighted Average Max Rate Current                            17.181%         17.075%
    ------------------------------------------------------------------------------------------------------
    Weighted Average Min Rate Original                            3.686%          3.918%
    Weighted Average Min Rate Prior
    Weighted Average Min Rate Current                             3.686%          3.918%
    ------------------------------------------------------------------------------------------------------
    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
----------------------------------------------------------------------------------------------------------
</TABLE>

Note: Original information refers to deal issue.

<TABLE>
<CAPTION>
SERVICING FEES / ADVANCES                                       POOL II         POOL I           TOTAL
----------------------------------------------------------------------------------------------------------
<S>                                                            <C>             <C>             <C>
    Delinquent Servicing Fees                                   6,899.24       18,474.45        25,373.69

    TOTAL SERVICING FEES                                       44,912.62      100,981.07       145,893.69

    Current Servicing Fees                                     38,013.38       82,506.62       120,520.00
----------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ADDITIONAL COLLATERAL INFORMATION                                POOL II          POOL I          TOTAL
----------------------------------------------------------------------------------------------------------
<S>                      <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>
DELINQUENT    Balance                                           4,372,515.53               -               -     4,372,515.53
              % Balance                                                 1.26%           0.00%           0.00%            1.26%
              # Loans                                                     95               -               -               95
              % # Loans                                                 1.33%           0.00%           0.00%            1.33%
------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE   Balance                                      -               -               -               -                -
              % Balance                                 0.00%           0.00%           0.00%           0.00%            0.00%
              # Loans                                      -               -               -               -                -
              % # Loans                                 0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY    Balance                             131,365.40               -               -               -       131,365.40
              % Balance                                 0.04%           0.00%           0.00%           0.00%            0.04%
              # Loans                                      4               -               -               -                4
              % # Loans                                 0.06%           0.00%           0.00%           0.00%            0.06%
------------------------------------------------------------------------------------------------------------------------------
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                             131,365.40    4,372,515.53               -               -     4,503,880.93
              % Balance                                 0.04%           1.26%           0.00%           0.00%            1.30%
              # Loans                                      4              95               -               -               99
              % # Loans                                 0.06%           1.33%           0.00%           0.00%            1.39%
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+
      Payments = 91+

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

                                                    CURRENT       1 PAYMENT         2 PAYMTS       3+ PAYMTS            TOTAL
------------------------------------------------------------------------------------------------------------------------------
<S>                                              <C>            <C>                 <C>            <C>           <C>
DELINQUENT    Balance                                           3,247,222.73               -               -     3,247,222.73
              % Balance                                                 1.35%           0.00%           0.00%            1.35%
              # Loans                                                     78               -               -               78
              % # Loans                                                 1.32%           0.00%           0.00%            1.32%
------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE   Balance                                      -               -               -               -                -
              % Balance                                 0.00%           0.00%           0.00%           0.00%            0.00%
              # Loans                                      -               -               -               -                -
              % # Loans                                 0.00%           0.00%           0.00%           0.00%            0.00%
------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY    Balance                             131,365.40               -               -               -       131,365.40
              % Balance                                 0.05%           0.00%           0.00%           0.00%            0.05%
              # Loans                                      4               -               -               -                4
              % # Loans                                 0.07%           0.00%           0.00%           0.00%            0.07%
------------------------------------------------------------------------------------------------------------------------------
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                             131,365.40    3,247,222.73               -               -     3,378,588.13
              % Balance                                 0.05%           1.35%           0.00%           0.00%            1.40%
              # Loans                                      4              78               -               -               82
              % # Loans                                 0.07%           1.32%           0.00%           0.00%            1.39%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note: Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+
      Payments = 91+

<PAGE>

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

                                                  CURRENT        1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
----------------------------------------------------------------------------------------------------------------------------
<S>                                               <C>         <C>                <C>            <C>            <C>
DELINQUENT           Balance                                  1,125,292.80               -               -     1,125,292.80
                     % Balance                                        1.07%           0.00%           0.00%            1.07%
                     # Loans                                           17               -               -               17
                     % # Loans                                       1.39%            0.00%           0.00%            1.39%
----------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                            -                -               -               -                -
                     % Balance                       0.00%            0.00%           0.00%           0.00%            0.00%
                     # Loans                            -                -               -               -                -
                     % # Loans                       0.00%            0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            -                -               -               -                -
                     % Balance                       0.00%            0.00%           0.00%           0.00%            0.00%
                     # Loans                            -                -               -               -                -
                     % # Loans                       0.00%            0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------
REO                  Balance                            -                -               -               -                -
                     % Balance                       0.00%            0.00%           0.00%           0.00%            0.00%
                     # Loans                            -                -               -               -                -
                     % # Loans                       0.00%            0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                            -     1,125,292.80               -               -     1,125,292.80
                     % Balance                       0.00%            1.07%           0.00%           0.00%            1.07%
                     # Loans                            -               17               -               -               17
                     % # Loans                       0.00%            1.39%           0.00%           0.00%            1.39%
----------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
</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.
</TABLE>

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

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

<PAGE>

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

VOLUNTARY PREPAYMENTS                                 POOL II          POOL I         TOTAL
-----------------------------------------------------------------------------------------------
<S>                                           <C>              <C>              <C>
    Current
    Number of Paid in Full Loans                          33               92              125
    Number of Repurchased Loans                            -                -                -
    -------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                 33               92              125

    Paid in Full Balance                        3,514,712.34     4,450,035.48     7,964,747.82
    Repurchased Loans Balance                              -                -                -
    Curtailments Amount                        (4,229,446.67)   (7,547,852.51)  (11,777,299.18)
    -------------------------------------------------------------------------------------------
    Total Prepayment Amount                      (714,734.33)   (3,097,817.03)   (3,812,551.36)

    Cumulative
    Number of Paid in Full Loans                          33               92              125
    Number of Repurchased Loans                            -                -                -
    -------------------------------------------------------------------------------------------
    Total Number of Loans Prepaid in Full                 33               92              125

    Paid in Full Balance                        3,514,712.34     4,450,035.48     7,964,747.82
    Repurchased Loans Balance                              -                -                -
    Curtailments Amount                        (4,229,446.67)   (7,547,852.51)  (11,777,299.18)
    -------------------------------------------------------------------------------------------
    Total Prepayment Amount                      (714,734.33)   (3,097,817.03)   (3,812,551.36)

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

VOLUNTARY PREPAYMENT RATES                           POOL II           POOL I            TOTAL
-----------------------------------------------------------------------------------------------
    SMM                                                 0.00%            0.00%            0.00%
    3 Months Avg SMM
    12 Months Avg SMM
    Avg SMM Since Cut-off                               0.00%            0.00%            0.00%

    CPR                                                 0.00%            0.00%            0.00%
    3 Months Avg CPR
    12 Months Avg CPR
    Avg CPR Since Cut-off                               0.00%            0.00%            0.00%

    PSA                                                 0.00%            0.00%            0.00%
    3 Months Avg PSA Approximation
    12 Months Avg PSA Approximation
    Avg PSA Since Cut-off Approximation                 0.00%            0.00%            0.00%

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

--------------------------------------------------------------------------------
                Prepayment Report - Voluntary Prepayments Cont.
--------------------------------------------------------------------------------

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                                                 -                     -              -
    Collateral Realized Loss/(Gain) Amount                                     -                     -              -
    Net Liquidation Proceeds                                                   -                     -              -

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

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

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

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

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

    MDR                                                                       0.00%           0.00%            0.00%
    3 Months Avg MDR
    12 Months Avg MDR
    Avg MDR Since Cut-off                                                     0.00%           0.00%            0.00%

    CDR                                                                       0.00%           0.00%            0.00%
    3 Months Avg CDR
    12 Months Avg CDR
    Avg CDR Since Cut-off                                                     0.00%           0.00%            0.00%

    SDA                                                                       0.00%           0.00%            0.00%
    3 Months Avg  SDA Approximation
    12 Months Avg SDA Approximation
    Avg SDA Since Cut-off Approximation                                       0.00%           0.00%            0.00%

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

---------------------------------------------------------------------------------------------------------------------------
</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 less than 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 less than 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 =                                                       Loan Group 1  =  Pool I Group
0
Total Original Principal Balance = 0.00                                  Loan Group 2  =  Pool II Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount =    0.00
Total Net Liquidation Proceeds =  0.00
-----------------------------------------------------                    -----------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
   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
------------------------------------------------------------------------------------------------------------------------------------
                                                  SPACE INTENTIONALLY LEFT BLANK
------------------------------------------------------------------------------------------------------------------------------------
</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
------------------------------------------------------------------------------------------------------------------------------------

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

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

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

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

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                     Other Related Information
------------------------------------------------------------------------------------------------------------------------------------

ADDITIONAL INFORMATION                                                                      POOL II          POOL I            TOTAL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                       <C>              <C>               <C>
    Detail Delinq. Breakdown to Supplement pages 11-13

    Number of Mort. Loans Delinq. 90 -119 days                                                     -               -               -
    Balance of Mort. Loans Delinq. 90 -119 days                                                 0.00            0.00            0.00
    Number of Mort. Loans Delinq. 120 -149 days                                                    -               -               -
    Balance of Mort. Loans Delinq. 120 -149 days                                                0.00            0.00            0.00
    Number of Mort. Loans Delinq. 150 -179 days                                                    -               -               -
    Balance of Mort. Loans Delinq. 150 -179 days                                                0.00            0.00            0.00
    Number of Mort. Loans Delinq. 180 days or more                                                 -               -               -
    Balance of Mort. Loans Delinq. 180 days or more                                             0.00            0.00            0.00

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

                                 Exhibit 10.1

CONTACTS

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

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

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

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

<TABLE>
<CAPTION>
ISSUANCE INFORMATION
------------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>                                                     <C>                        <C>
    Seller:                 Greenpoint Mortgage                                     Cut-Off Date:              May 31, 2000
    Certificate Insurer:    AMBAC Assurance Corporation                             Closing Date:              June 29, 2000
    Servicer(s):            Greenpoint Mortgage - Master Servicer                   First Payment Date:        July 17, 2000

    Underwriter(s):         Greenwich Capital Markets, Inc. - Underwriter           Distribution Date:         August 15, 2000
                                                                                    Record Date:               August 14, 2000
                                                                                                               July 31, 2000

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

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

                                             GreenPoint Home Equity Loan Trust 2000-1
                                             Home Equity Loan Asset-Backed Securities
                                                           Series 2000-1
                                    Certificate Payment Report for August 15, 2000 Distribution

        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
-----------------------------------------------------------------------------------------------------------------------------------
<S>       <C>       <C>              <C>             <C>           <C>          <C>            <C>        <C>       <C>
                                        (1)               (2)         (3)       (4)=(2)+(3)       (5)        (6)    (7)=(1)-(3)-
                                                                                                                      (5)+(6)
-----------------------------------------------------------------------------------------------------------------------------------

  A-1    FLT,STEP   244,172,000.00   242,337,863.36  1,318,932.24  3,783,240.31   5,102,172.55        -          -   238,554,623.05
  A-2    FLT,STEP   108,598,000.00   105,901,917.63    586,612.05  3,786,778.69   4,373,390.74        -          -   102,115,138.94
   R                             -                -             -             -              -        -          -               -

-----------------------------------------------------------------------------------------------------------------------------------
Total               352,770,000.00   348,239,780.99  1,905,544.29  7,570,019.00   9,475,563.29        -          -   340,669,761.99
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
        Interest Accrual Detail          Current Period Factor Information per $1,000 of Original Face
------------------------------------------------------------------------------------------------------------------------------------
                                                    Orig. Principal     Prior                                             Current
         Period   Period                            (with Notional)   Principal                             Total        Principal
 Class  Starting  Ending     Method       Cusip        Balance         Balance    Interest   Principal   Distribution     Balance
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>       <C>         <C>         <C>               <C>         <C>        <C>         <C>             <C>
                                                                        (1)         (2)         (3)      (4)=(2)+(3)        (5)
------------------------------------------------------------------------------------------------------------------------------------

  A-1                       A-Act/360   3133TPCHO   244,172,000.00    992.488342   5.401652    15.494161    20.895813    976.994181
  A-2                       A-Act/360   395385AC1   108,598,000.00    975.173738   5.401684    34.869691    40.271375    940.304047
   R                            -                                -             -          -            -            -             -

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

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

  A-1   244,172,000.00  2,149,574.86   4,751,345.76   866,031.19   5,617,376.95   7,766,951.81         -         -   238,554,623.05

  A-2   108,598,000.00   962,564.75    6,148,217.88   334,643.18   6,482,861.06   7,445,425.81         -         -   102,115,138.94

              -               -                   -            -              -              -         -         -                -

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

 Total  352,770,000.00  3,112,139.61  10,899,563.64 1,200,674.37  12,100,238.01  15,212,377.62         -         -   340,669,761.99
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

<TABLE>
<CAPTION>
        Interest Detail
------------------------------------------------------------------------------------------------------------------------------------
          Pass-     Prior Principal                     Non-         Prior      Unscheduled                  Paid or      Current
         Through    (with Notional)     Accrued       Supported      Unpaid      Interest       Optimal      Deferred     Unpaid
 Class     Rate         Balance        Interest      Interest SF    Interest    Adjustments     Interest     Interest    Interest
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>        <C>              <C>             <C>            <C>         <C>            <C>           <C>        <C>
                                          (1)            (2)          (3)           (4)         (5)=(1)-       (6)      (7)=(5)-(6)
                                                                                               (2)+(3)+(4)
------------------------------------------------------------------------------------------------------------------------------------

  A-1    6.75625%   242,337,863.36   1,318,932.24              -           -              -  1,318,932.24  1,318,932.24         -
  A-2    6.87625%   105,901,917.63     586,612.05              -           -              -    586,612.05    586,612.05         -
   R                             -              -              -           -              -             -             -         -

------------------------------------------------------------------------------------------------------------------------------------
 Total              348,239,780.99   1,905,544.29              -           -              -  1,905,544.29  1,905,544.29         -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

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

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

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

  Net Principal Collections       3,597,950.71    3,343,586.90    6,941,537.61

  TOTAL PRINCIPAL                 3,597,950.71    3,343,586.90    6,941,537.61

  Interest Collections              791,718.90    1,805,934.81    2,597,653.71
  Interest Fees                     (16,278.87)     (47,349.16)      63,628.03)

  TOTAL INTEREST                    775,440.03    1,758,585.65    2,534,025.68

  TOTAL AVAILABLE FUNDS           4,373,390.74    5,102,172.55    9,475,563.29

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

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

  Principal Collections           6,774,741.94    8,800,569.22   15,575,311.16
  Repurchases/Substitutions               0.00            0.00            0.00
  Liquidations                            0.00            0.00            0.00
  Insurance Principal                     0.00            0.00            0.00
  Liquidation Loss Amounts                0.00            0.00            0.00
  Additional Balances            (3,176,791.23)  (5,456,982.32)  (8,633,773.55)

  TOTAL PRINCIPAL COLLECTED       3,597,950.71    3,343,586.90    6,941,537.61

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

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

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

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

-------------------------------------------------------------------------------
<PAGE>

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

  Interest Collections              842,557.30    1,924,978.10    2,767,535.40
  Repurchases/Substitutions               0.00            0.00            0.00
  Liquidations                            0.00            0.00            0.00
  Insurance Interest                      0.00            0.00            0.00
  Other Additional Interest               0.00            0.00            0.00
  Current Servicing Fee             (50,838.40)    (119,043.29)    (169,881.69)

  TOTAL INTEREST                    791,718.90    1,805,934.81    2,597,653.71

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

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

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

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

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

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

  Trustee Fee                           834.84        1,910.81        2,745.65
  Certificate Insurer Premium        15,444.03       35,340.94       50,784.97
  Guarantee Fee                           0.00       10,097.41       10,097.41
  Management Fee                          0.00            0.00            0.00

  TOTAL INTEREST FEES                16,278.87       47,349.16       63,628.03

-------------------------------------------------------------------------------
Servicing Fee includes an increase to adjust for an understatement in the
preceding period related POOL I and POOL II of $18,474.46 and $6,899.24,
repectively.
<PAGE>

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

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

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

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

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

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

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

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

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

    Current Delinquency Percentage                                0.0000%         0.0000%          0.0000%
    Rolling Delinquency Percentage                                0.0000%         0.0000%          0.0000%

    Prior Overcollateralization Amount                              0.00            0.00             0.00
    Specified Overcollateralization Amount                  2,425,281.26    5,452,977.96     7,878,259.22
    Overcollateralization Amount                                    0.00            0.00             0.00
    Overcollateralization Deficiency Amount                 2,425,281.26    5,452,977.96     7,878,259.22

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

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

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

COLLATERAL                                                       POOL II             POOL I              TOTAL
-----------------------------------------------------------------------------------------------------------------
<S>                                                       <C>                <C>                <C>
      Loan Count:
    Original                                                        1258               5996               7254
    Prior                                                          1,225              5,904              7,129
    Refunding                                                          1                  -                  1
    Scheduled Paid Offs                                                -                  -                  -
    Full Voluntary Prepayments                                       (37)              (104)              (141)
    Repurchases                                                        -                  -                  -
    Liquidations                                                       -                  -                  -
    -------------------------------------------------------------------------------------------------------------
    Current                                                        1,189              5,800              6,989

    Principal Balance:
    Original                                              107,790,278.12     242,354,576.15     350,144,854.27
    Prior                                                 105,453,988.57     241,365,190.49     346,818,179.06
    Prefunding                                              3,176,791.23       5,456,982.32       8,633,773.55
    Scheduled Principal                                      (164,226.56)       (408,792.65)       (573,019.95)
    Partial and Full Voluntary Prepayments                 (6,610,515.38)     (8,391,776.57)    (15,002,291.95
    Repurchases                                                        -                  -                  -
-----------------------------------------------------------------------------------------------------------------
    Liquidations                                                       -                  -                  -
    Current                                               101,856,037.86     238,021,603.59     339,877,641.45
-----------------------------------------------------------------------------------------------------------------

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

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

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

    Weighted Average Coupon Original                           9.377874%          9.394264%           9.389218%
    Weighted Average Coupon Prior                              9.377874%          9.394264%           9.389218%
    Weighted Average Coupon Current                            9.981996%         10.224505%          10,150767%
    -------------------------------------------------------------------------------------------------------------
    Weighted Average Months to Maturity Original                    200                204                 203
    Weighted Average Months to Maturity Prior                       200                204                 203
    Weighted Average Months to Maturity Current                     200                203                 202
    -------------------------------------------------------------------------------------------------------------
    Weighted Avg Remaining Amortization Term Original               208                205                 206
    Weighted Avg Remaining Amortization Term Prior                  208                205                 206
    Weighted Avg Remaining Amortization Term Current                207                204                 205
    -------------------------------------------------------------------------------------------------------------
    Weighted Average Seasoning Original                            2.71               2.76                2.74
    Weighted Average Seasoning Prior                               2.71               2.76                2.74
    Weighted Average Seasoning Current                             3.71               3.74                3.73

-----------------------------------------------------------------------------------------------------------------
Note:  Original information refers to deal issue.
</TABLE>
<PAGE>

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

    Weighted Average Margin Original         2.380       2.530%
    Weighted Average Margin Prior            2.380       2.530%
    Weighted Average Margin Current         2.401%       2.514%
    ------------------------------------------------------------------------
    Weighted Average Max Rate Original      17.181      17.075%
    Weighted Average Max Rate Prior        17.181%      17.075%
    Weighted Average Max Rate Current       17.174      17.083%
    ------------------------------------------------------------------------
    Weighted Average Min Rate Original       3.686       3.918%
    Weighted Average Min Rate Prior          3.686       3.918%
    Weighted Average Min Rate Current       3.722%       3.889%
    ------------------------------------------------------------------------
    Weighted Average Cap Up Original
    Weighted Average Cap Up Prior
    Weighted Average Cap Up Current
    ------------------------------------------------------------------------
    Weighted Average Cap Down Original
    Weighted Average Cap Down Prior
    Weighted Average Cap Down Current

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

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

    TOTAL SERVICING FEE                  50,838.40   119,043.29  169,881.69

----------------------------------------------------------------------------
Servicing Fee includes an increase to adjust for an understatement in the
preceding period related POOL I and POOL II of $18,474.46 and $6,899.24,
respectively.

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

----------------------------------------------------------------------------
<PAGE>

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

                                                         CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                   <C>           <C>             <C>               <C>            <C>
DELINQUENT           Balance                                        5,184,301.91    1,968,634.63               -     7,152,936.54
                     % Balance                                              1.53%           0.58%           0.00%            2.10%
                     # Loans                                                 117              37               -              154
                     % # Loans                                              1.67%           0.53%           0.00%            2.20%
----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                   -               -               -               -                -
                     % Balance                              0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                   -               -               -               -                -
                     % # Loans                              0.00%           0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                          131,171.41               -               -               -       131,171.41
                     % Balance                              0.04%           0.00%           0.00%           0.00%            0.04%
                     # Loans                                   5               -               -               -                5
                     % # Loans                              0.07%           0.00%           0.00%           0.00%            0.07%
----------------------------------------------------------------------------------------------------------------------------------
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                          131,171.41    5,184,301.91    1,968,634.63               -     7,284,107.95
                     % Balance                              0.04%           1.53%           0.58%           0.00%            2.14%
                     # Loans                                   5             117              37               -              159
                     % # Loans                              0.07%           1.67%           0.53%           0.00%            2.28%
----------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Payments = 91+

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

                                                         CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
DELINQUENT           Balance                                        3,722,531.95    1,096,113.67               -     4,818,645.62
                     % Balance                                              1.56%           0.46%           0.00%            2.02%
                     # Loans                                                  97              27               -              124
                     % # Loans                                              1.67%           0.47%           0.00%            2.14%
----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                   -               -               -               -                -
                     % Balance                              0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                   -               -               -               -                -
                     % # Loans                              0.00%           0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                          121,295.41               -               -               -       121,295.41
                     % Balance                              0.05%           0.00%           0.00%           0.00%            0.05%
                     # Loans                                   4               -               -               -                4
                     % # Loans                              0.07%           0.00%           0.00%           0.00%            0.07%
----------------------------------------------------------------------------------------------------------------------------------
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                          121,295.41    3,722,531.95    1,096,113.67               -     4,939,941.03
                     % Balance                              0.05%           1.56%           0.46%           0.00%            2.08%
                     # Loans                                   4              97              27               -              128
                     % # Loans                              0.07%           1.67%           0.47%           0.00%            2.21%
----------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
</TABLE>
<PAGE>

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

                                                         CURRENT       1 PAYMENT       2  PAYMTS      3+  PAYMTS            TOTAL
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                     <C>         <C>               <C>             <C>            <C>
DELINQUENT           Balance                                        1,461,769.96      872,520.96               -     2,334,290.92
                     % Balance                                              1.44%           0.86%           0.00%            2.29%
                     # Loans                                                  20              10               -               30
                     % # Loans                                              1.68%           0.84%           0.00%            2.52%
----------------------------------------------------------------------------------------------------------------------------------
FORECLOSURE          Balance                                   -               -               -               -                -
                     % Balance                              0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                   -               -               -               -                -
                     % # Loans                              0.00%           0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY           Balance                            9,876.00               -               -               -         9,876.00
                     % Balance                              0.01%           0.00%           0.00%           0.00%            0.01%
                     # Loans                                   1               -               -               -                1
                     % # Loans                              0.08%           0.00%           0.00%           0.00%            0.08%
----------------------------------------------------------------------------------------------------------------------------------
REO                  Balance                                   -               -               -               -                -
                     % Balance                              0.00%           0.00%           0.00%           0.00%            0.00%
                     # Loans                                   -               -               -               -                -
                     % # Loans                              0.00%           0.00%           0.00%           0.00%            0.00%
----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------
TOTAL                Balance                            9,876.00    1,461,769.96      872,520.96               -     2,344,166.92
                     % Balance                              0.01%           1.44%           0.86%           0.00%            2.30%
                     # Loans                                   1              20              10               -               31
                     % # Loans                              0.08%           1.68%           0.84%           0.00%            2.61%
----------------------------------------------------------------------------------------------------------------------------------
Note:  Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Payments = 91+

</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.

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

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

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

VOLUNTARY PREPAYMENTS                                                  POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------
<S>                                                              <C>              <C>              <C>
  Current
  Number of Paid in Full Loans                                              37             104              141
  Number of Repurchased Loans                                                -               -                -
  -------------------------------------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                     37             104              141

  Paid in Full Balance                                            3,791,190.87    5,251,437.79     9,042,628.66
  Repurchased Loans Balance                                                  -               -                -
  Curtailments Amount                                             2,819,324.51    3,140,338.78     5,959,663.29
  -------------------------------------------------------------------------------------------------------------
  Total Prepayment Amount                                         6,610,515.38    8,391,776.57    15,002,291.95

  Cumulative
  Number of Paid in Full Loans                                              70             196              266
  Number of Repurchased Loans                                                -               -                -
  -------------------------------------------------------------------------------------------------------------
  Total Number of Loans Prepaid in Full                                     70             196              266

  Paid in Full Balance                                            7,305,903.21    9,701,473.27    17,007,376.48
  Repurchased Loans Balance                                                  -               -                -
  Curtailments Amount                                             5,699,931.77    6,770,302.93    12,470,234.70
  -------------------------------------------------------------------------------------------------------------
  Total Prepayment Amount                                        13,005,834.98   16,471,776.20    29,477,611.18

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

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

  SMM                                                                    6.28%           3.48%            4.33%
  3 Months Avg SMM
  12 Months Avg SMM
  Avg SMM Since Cut-off                                                  6.11%           3.41%            4.24%

  CPR                                                                   54.07%          34.65%           41.23%
  3 Months Avg CPR
  12 Months Avg CPR
  Avg CPR Since Cut-off                                                 53.08%          34.07%           40.52%

  PSA                                                                 7277.84%        4628.20%         5519.99%
  3 Months Avg  PSA Approximation
  12 Months Avg PSA Approximation
  Avg PSA Since Cut-off Approximation                                 8257.22%        5242.13%         6256.00%

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

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

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

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

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

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

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

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

  Note: Prepayment rates are calculated since deal issue date and include
  partial and full voluntary prepayments and repurchases.

  Dates correspond to distribution dates.

--------------------------------------------------------------------------------
<PAGE>

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

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

COLLATERAL REALIZED                    POOL II          POOL I            TOTAL
LOSSES
--------------------------------------------------------------------------------

  Current
  Number of Loans Liquidated                 -               -                -
  Collateral Realized Loss/(Gain) Amount     -               -                -
  Net Liquidation Proceeds                   -               -                -

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

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

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

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

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

  MDR                                    0.00%           0.00%            0.00%
  3 Months Avg MDR
  12 Months Avg MDR
  Avg MDR Since Cut-off                  0.00%           0.00%            0.00%

  CDR                                    0.00%           0.00%            0.00%
  3 Months Avg CDR
  12 Months Avg CDR
  Avg CDR Since Cut-off                  0.00%           0.00%            0.00%

  SDA                                    0.00%           0.00%            0.00%
  3 Months Avg  SDA Approximation
  12 Months Avg SDA Approximation
  Avg SDA Since Cut-off Approximation    0.00%           0.00%            0.00%

  Loss Severity Approximation for
  Current Period 3 Months Avg Loss
  Severity Approximation 12 Months
  Avg Loss Severity Approximation Avg
  Loss Severity Approximation Since
  Cut-off
--------------------------------------------------------------------------------
<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 = 0                                    Loan Group 1    =    Pool I Group
Total Original Principal Balance = 0.00                 Loan Group 2    =    Pool II Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
------------------------------------------------------  --------------------------------------------------------

----------------------------------------------------------------------------------------------------------------
 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
----------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------
                         SPACE INTENTIONALLY LEFT BLANK

----------------------------------------------------------------------------------------------------------------
</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

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

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

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

ADDITIONAL INFORMATION                                                      POOL II          POOL I            TOTAL
---------------------------------------------------------------------------------------------------------------------

    Detail Delinq. Breakdown to Supplement pages 11-13
    Number of Mort. Loans Delinq. 90 -119 days                                    -               -                -
    Balance of Mort. Loans Delinq. 90 -119 days                                0.00            0.00             0.00
    Number of Mort. Loans Delinq. 120 -149 days                                   -               -                -
    Balance of Mort. Loans Delinq. 120 -149 days                               0.00            0.00             0.00
    Number of Mort. Loans Delinq. 150 -179 days                                   -               -                -
    Balance of Mort. Loans Delinq. 150 -179 days                               0.00            0.00             0.00
    Number of Mort. Loans Delinq. 180 days or more                                -               -                -
    Balance of Mort. Loans Delinq. 180 days or more                            0.00            0.00             0.00

    Management Fee Accrued and Unpaid                                        307.84          692.16         1,000.00

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

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