GreenPoint MortgageSecurities Inc. GreenPoint Home Equity Loan Trust2003-1 Home Equity Loan Asset-Backed Notes Series 2003-1
Exhibit 10.1
| THE BANK OF NEW YORK | ||||||
| 101 Barclay Street, 8 West | Distribution Date: 10/15/03 | |||||
| New York, NY 10286 | ||||||
| Officer: | Trish O’Neill-Manella | 212 ###-###-#### | ||||
| Associate: | Cirino Emanuele | 212 ###-###-#### | ||||
GreenPoint Mortgage Securities Inc.
GreenPoint Home Equity Loan Trust 2003-1
Home Equity Loan Asset-Backed Notes
Series 2003-1
Certificateholder Monthly Distribution Summary
| Class | Cusip | Class Description | Certificate Rate Type | Beginning Balance | Pass Through Rate (%) | Principal Distribution | Interest Distribution | Total Distribution | Current Realized Losses | Ending Balance | ||||||||||
| A | 395385AP2 | Senior | Var-Act/360 | 239,519,163.14 | 1.390000 | 12,827,241.17 | 277,443.03 | 13,104,684.20 | — | 226,691,921.96 | ||||||||||
| R | Senior | Fix-30/360 | — | 0.000000 | — | — | — | — | — | |||||||||||
| Totals | 239,519,163.14 | 12,827,241.17 | 277,443.03 | 13,104,684.20 | — | 226,691,921.96 |
Principal Distribution Detail
| Class | Cusip | Original Certificate Balance | Beginning Certificate Balance | Scheduled Principal Distribution | Accretion Principal | Unscheduled Principal Adjustments | Net Principal Distribution | Current Realized Losses | Ending Certificate Balance | Ending Certificate Factor | ||||||||||
| A | 395385AP2 | 290,418,000.00 | 239,519,163.14 | 12,827,241.17 | — | — | 12,827,241.17 | — | 226,691,921.96 | 0.78057118348 | ||||||||||
| R | — | — | — | — | — | — | — | — | 0.00000000000 | |||||||||||
| Totals | 290,418,000.00 | 239,519,163.14 | 12,827,241.17 | — | — | 12,827,241.17 | — | 226,691,921.96 |
Interest Distribution Detail
| Class | Beginning Certificate Balance | Pass Through Rate (%) | Accrued Optimal Interest | Cumulative Unpaid Interest | Deferred Interest | Total Interest Due | Net Prepayment Int Shortfall | Unscheduled Interest Adjustment | Interest Paid | |||||||||
| A | 239,519,163.14 | 1.390000 | 277,443.03 | — | — | 277,443.03 | — | — | 277,443.03 | |||||||||
| R | — | 0.000000 | — | — | — | — | — | — | — | |||||||||
| Totals | 239,519,163.14 | 277,443.03 | — | — | 277,443.03 | — | — | 277,443.03 |
Current Payment Information
Factors per $1,000
| Class | Cusip | Original Certificate Balance | Beginning Cert. Notional Balance | Principal Distribution | Interest Distribution | Ending Cert. Notional Balance | Pass Through Rate (%) | |||||||
| A | 395385AP2 | 290,418,000.00 | 824 ###-###-#### | 44 ###-###-#### | 0 ###-###-#### | 780.571183477 | 1.390000 | |||||||
| R | — | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000 | ||||||||
| Totals | 290,418,000.00 | 824 ###-###-#### | 44 ###-###-#### | 0 ###-###-#### | 780.571183467 |
| Pool Level Data | ||||
| Distribution Date | 10/15/2003 | |||
| Cut-off Date | 5/1/2003 | |||
| Determination Date | 10/1/2003 | |||
| Accrual Period 30/360 | Begin | 9/1/2003 | ||
| End | 10/1/2003 | |||
| Number of Days in 30/360 Accrual Period | 30 | |||
| Accrual Period Actual Days | Begin | 9/15/2003 | ||
| End | 10/15/2003 | |||
| Number of Days in Actual Accrual Period | 30 |
2
Collateral Information
| Group 1 | |||
| Cut-Off Date Balance | 287,542,470.48 | ||
| Beginning Aggregate Pool Stated Principal Balance | 241,308,817.07 | ||
| Ending Aggregate Pool Stated Principal Balance | 229,468,779.38 | ||
| Beginning Aggregate Certificate Stated Principal Balance | 239,519,163.14 | ||
| Ending Aggregate Certificate Stated Principal Balance | 226,691,921.96 | ||
| Beginning Aggregate Loan Count | 5756 | ||
| Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement | 302 | ||
| Ending Aggregate Loan Count | 5454 | ||
| Beginning Weighted Average Loan Rate (WAC) | 6.818127 | % | |
| Ending Weighted Average Loan Rate (WAC) | 6.783350 | % | |
| Beginning Net Weighted Average Loan Rate | 6.311127 | % | |
| Ending Net Weighted Average Loan Rate | 6.276350 | % | |
| Weighted Average Maturity (WAM) (Months) | 208 | ||
| Aggregate Pool Prepayment | 9,739,278.20 | ||
| Pool Prepayment Rate | 39.2741 CPR | ||
| Certificate Account | |||
| Beginning Balance | — | ||
| Deposit | |||
| Payments of Interest and Principal | 13,239,233.34 | ||
| Liquidation Proceeds | — | ||
| All Other Proceeds | — | ||
| Other Amounts | — | ||
| Total Deposits | 13,239,233.34 | ||
| Withdrawals | |||
| Reimbursement of Servicer Advances | — | ||
| Payment of Master Servicer Fees | 100,545.34 | ||
| Payment of Sub Servicer Fees | — | ||
| Payment of Other Fees | — | ||
| Payment of Insurance Premium(s) | — | |
| Payment of Personal Mortgage Insurance | — | |
| Other Permitted Withdrawal per the Pooling and Service Agreement | 34,003.79 | |
| Payment of Principal and Interest | 13,104,684.20 | |
| Total Withdrawals | 13,239,233.34 | |
| Ending Balance | — | |
Delinquency Information
| Group 1 | ||||||||||||||||||
| Delinquency | 30-59 Days | 60-89 Days | 90-179 Days | 180-269 Days | 270+ Days | Totals | ||||||||||||
| Scheduled Principal Balance | 2,631,248.29 | 729,740.62 | 938,864.60 | 326,424.65 | — | 4,626,278.16 | ||||||||||||
| Percentage of Total Pool Balance | 1.146669 | % | 0.318013 | % | 0.409147 | % | 0.142252 | % | 0.000000 | % | 2.016082 | % | ||||||
| Number of Loans | 64 | 21 | 19 | 6 | 0 | 110 | ||||||||||||
| Percentage of Total Loans | 1.173451 | % | 0.385039 | % | 0.348368 | % | 0.110011 | % | 0.000000 | % | 2.016868 | % | ||||||
| Foreclosure | ||||||||||||||||||
| Scheduled Principal Balance | 412,746.88 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.179871 | % | ||||||||||||||||
| Number of Loans | 5 | |||||||||||||||||
| Percentage of Total Loans | 0.091676 | % | ||||||||||||||||
| Bankruptcy | ||||||||||||||||||
| Scheduled Principal Balance | 296,528.02 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.129224 | % | ||||||||||||||||
| Number of Loans | 8 | |||||||||||||||||
| Percentage of Total Loans | 0.146681 | % | ||||||||||||||||
| REO | ||||||||||||||||||
| Scheduled Principal Balance | — | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Number of Loans | 0 | |||||||||||||||||
| Percentage of Total Loans | 0.000000 | % | ||||||||||||||||
| Book Value of all REO Loans | — | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Current Realized Losses | — | |||||||||||||||||
| Additional Gains (Recoveries)/Losses | — | |||||||||||||||||
| Total Realized Losses | — | |||||||||||||||||
Reserve Fund Information
| Demand Note Reserve Account | ||
| Beginning Balance | ||
| Deposits | 2,875,529.52 | |
| Accrued Interest | — | |
| Withdrawals | — | |
| Ending Balance | — | |
| 2,875,529.52 |
OVERCOLLATERALIZATION REPORTING
| Ending Overcollateralization Amount | 2,776,857.42 | |
| Specified Overcollateralization Amount | 7,482,343.95 | |
| Overcollateralization Reduction Amount | — | |
| Excess Interest used as Accelerated Principal | 987,203.48 |
ADDITIONAL REPORTING ITEMS
| Cumulative losses as percentage of current Pool Balance | 0.00000000 | % | |
| Cumulative losses as percentage of current Pool Balance | 0.00000000 | % | |
| 12-month rolling average of cumulative losses as percentage of original Pool Balance | 0.00000000 | % | |
| 3-month rolling average of Mortgage Loans 60+ days delinquent | 0.00741065 | ||
| Relief Act Shortfall | — | ||
| Gross Prepayment Interest Shortfall | — | ||
| Net Prepayment Interest Shortfall | — | ||
| Total outstanding principal balance of 3 largest Mortgage Loans | 1,042,516.20 | ||
| Draw Amount | 3,615,747.74 |
