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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported) June 15, 2000
GREENPOINT MORTGAGE SECURITIES INC., (as sponsor under the Sale and
Servicing Agreement, dated as of June 1, 2000, providing for the
issuance of GreenPoint Home Equity Loan Trust 2000-1, Home Equity Loan
Asset-Backed Notes).
GreenPoint Mortgage Securities Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 333-95349 68-0397342
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(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
700 Larkspur Landing Circle 94939
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Suite 240 (Zip Code)
Larkspur, California
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (415) 925-5442
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Item 2. Acquisition or Disposition of Assets
Description of the Notes and the Mortgage Loans
GreenPoint Mortgage Securities Inc. (the "Registrant")
registered an issuance of up to $748,307,624 in principal amount of Asset-Backed
Securities on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, as amended (the "Act"), by the Registration Statement on
Form S-3 (File No. 333-95349) (the "Registration Statement"). Pursuant to the
Registration Statement, GreenPoint Home Equity Loan Trust 2000-1 (the "Trust")
issued approximately $108,598,000 in aggregate principal amount of Home Equity
Loan Asset-Backed Notes, Series 2000-1 (the "Class A-2 Notes"), on June 29, 2000
(the "Closing Date"). This Current Report on Form 8-K is being filed to satisfy
an undertaking to file copies of certain agreements executed in connection with
the issuance of the Class A-2 Notes, the forms of which were filed as Exhibits
to the Registration Statement.
The Class A-2 Notes were issued pursuant to a Pooling
Agreement and Indenture (the "Pooling Agreement") attached hereto as Exhibit
4.3, dated as of June 1, 2000, among the Trust, Bankers Trust Company in its
capacity as Trustee (the "Trustee") and the Federal Home Loan Mortgage
Corporation. The Notes evidence indebtedness of the Trust. Also issued, but not
offered, by the Trust were Class A-1 Certificates (the "Class A-1 Certificates")
and Residual Certificates (the "Residual Certificates"), together evidencing the
ownership interest in the Trust.
The primary assets of the Trust are two pools of
adjustable-rate, revolving home equity lines of credit mortgage loans and
fixed-rate closed-end second lien mortgage loans.
The Notes have an aggregate principal amount of $108,598,000
and a variable interest rate.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits:
1.1 Underwriting Agreement, dated as of June 15, 2000, among
the Registrant, as Sponsor (the "Sponsor"), GreenPoint Mortgage Funding, Inc.,
and Greenwich Capital Markets Inc., as Underwriter (the "Underwriter").
4.1 Sale and Servicing Agreement, dated as of June 1, 2000,
among the Sponsor, GreenPoint Mortgage Funding, Inc., as Servicer, the Trust, as
Issuer, and the Trustee.
4.2 Trust Agreement, dated as of June 1, 2000, between the
Sponsor, and Wilmington Trust Company, as Owner Trustee, relating to the
formation of the Trust.
4.3 Pooling Agreement and Indenture, dated as of June 1,
2000, among the Trust, the Trustee and the Federal Home Loan Mortgage
Corporation.
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4.4 Mortgage Loan Purchase Agreement date as of June 1, 2000,
by and between GreenPoint Mortgage Funding, Inc., as Seller, and the Sponsor, as
Purchaser.
4.5 Certificate Guaranty Insurance Policy relating to the
Notes, dated as of June 29, 2000, and issued and delivered by Ambac Assurance
Corporation.
5.1 Opinion of Tobin & Tobin regarding legality.*
8.2 Opinion of Dewey Ballantine LLP regarding tax matters*.
10.1 Indemnification Agreement, dated as of June 15, 2000,
between the Underwriter and Ambac Assurance Corporation, as Insurer.
10.2 Demand Note, dated as of June 29, 2000, issued by
GreenPoint Bank.
23.4 Consent of KPMG LLP regarding financial statements of
Ambac Assurance Corporation and their report.**
* Previously filed on Form S-3 with the Securities and
Exchange Commission on January 24, 2000.
**Previously filed on Form 8-K with the Securities and
Exchange Commission on June 27, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
GREENPOINT MORTGAGE SECURITIES INC.
By: /s/ Kristen Decker
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Name: Kristen Decker
Title: Vice President
Dated: July 14, 2000
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EXHIBIT INDEX
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Exhibit No. Description
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1.1 Underwriting Agreement, dated as of June 15, 2000, among the Registrant, as Sponsor (the
"Sponsor"), GreenPoint Mortgage Funding, Inc., and Greenwich Capital Markets Inc., as
Underwriter (the "Underwriter").
4.1 Sale and Servicing Agreement, dated as of June 1, 2000, among the Sponsor, GreenPoint
Mortgage Funding, Inc., as Servicer, the Trust, as Issuer, and the Trustee.
4.2 Trust Agreement, dated as of June 1, 2000, between the Sponsor, and Wilmington Trust
Company, as Owner Trustee, relating to the formation of the Trust.
4.3 Pooling Agreement and Indenture, dated as of June 1, 2000, among the Trust, the Trustee and
the Federal Home Loan Mortgage Corporation.
4.4 Mortgage Loan Purchase Agreement date as of June 1, 2000, by and between GreenPoint
Mortgage Funding, Inc., as Seller, and the Sponsor, as Purchaser.
4.5 Certificate Guaranty Insurance Policy relating to the Notes, dated as of June 29, 2000, and
issued and delivered by Ambac Assurance Corporation.
5.1 Opinion of Tobin & Tobin regarding legality.*
8.1 Opinion of Dewey Ballantine LLP regarding tax matters.*
10.1 Indemnification Agreement, dated as of June 15, 2000 between the Underwriter and Ambac
Assurance Corporation, as Insurer.
10.2 Demand Note, dated as of June 29, 2000, issued by GreenPoint Bank.
23.4 Consent of KPMG LLP regarding financial statements of Ambac Assurance Corporation and their
report.**
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* Previously filed on Form S-3 with the Securities and
Exchange Commission on January 24, 2000.
** Previously filed on Form 8-K with the Securities and
Exchange Commission on June 27, 2000.
