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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) December 5, 2000
GREENPOINT MORTGAGE SECURITIES INC., (as sponsor under the Sale and
Servicing Agreement, dated as of December 1, 2000, providing for the
issuance of GreenPoint Home Equity Loan Trust 2000-3, Home Equity Loan
Asset-Backed Notes).
GreenPoint Mortgage Securities Inc.
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(Exact name of registrant as specified in its charter)
Delaware 333-95349 68-0397342
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
700 Larkspur Landing Circle 94939
Suite 240 ------------
Larkspur, California (Zip Code)
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (415) 925-6106
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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 2000-3 (the "Trust")
issued approximately $299,286,000 in aggregate principal amount of Home Equity
Loan Asset-Backed Notes, Series 2000-3 (the "Notes"), on December 18, 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 Notes, the forms of which were filed as Exhibits to the
Registration Statement.
The Notes were issued pursuant to an Indenture (the
"Indenture") attached hereto as Exhibit 4.3, dated as of December 1, 2000,
between the Trust and Bankers Trust Company in its capacity as Indenture Trustee
(the " Indenture Trustee"). The Notes evidence indebtedness of the Trust. Also
issued, but not publicly offered, by the Trust were the Class S Certificates
(the "Class S Certificates"), evidencing entitlement to certain interest
payments and the Residual Certificates (the "Residual Certificates"), evidencing
the ownership interest in the Trust.
The primary assets of the Trust are three 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 $299,286,000
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 December 5, 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 December 1,
2000, among the Sponsor, GreenPoint Mortgage Funding, Inc., as Servicer, the
Trust, as Issuer, and the Indenture Trustee.
4.2 Trust Agreement, dated as of December 1, 2000, between the
Sponsor, and Wilmington Trust Company, as Owner Trustee, relating to the
formation of the Trust.
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4.3 Indenture, dated as of December 1, 2000, between the Trust
and the Indenture Trustee.
4.4 Mortgage Loan Purchase Agreement date as of December 1,
2000, between GreenPoint Mortgage Funding, Inc., as Seller, and the Sponsor, as
Purchaser.
4.5 Surety Bond relating to the Notes, dated as of December
18, 2000, and issued and delivered by Financial Guaranty Insurance Company.
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 December 5, 2000,
between the Underwriter and Financial Guaranty Insurance Company, as Insurer.
10.2 Demand Note, dated as of December 18, 2000, issued by
GreenPoint Bank.
23.1 Consent of KPMG LLP regarding financial statements of
Financial Guaranty Insurance Company 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 December 13, 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/ Nathan Hieter
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Name: Nathan Hieter
Title: Vice President
Dated: January 2, 2001
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EXHIBIT INDEX
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Exhibit No. Description
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1.1 Underwriting Agreement, dated as of December 5, 2000, among
the Sponsor, GreenPoint Mortgage Funding, Inc., and the
Underwriter.
4.1 Sale and Servicing Agreement, dated as of December 1, 2000,
among the Sponsor, GreenPoint Mortgage Funding, Inc., as
Servicer, the Trust, as Issuer, and the Indenture Trustee.
4.2 Trust Agreement, dated as of December 1, 2000, between the
Sponsor, and Wilmington Trust Company, as Owner Trustee,
relating to the formation of the Trust.
4.3 Indenture, dated as of December 1, 2000, between the Trust and
the Indenture Trustee.
4.4 Mortgage Loan Purchase Agreement date as of December 1, 2000,
between GreenPoint Mortgage Funding, Inc., as Seller, and the
Sponsor, as Purchaser.
4.5 Surety Bond relating to the Notes, dated as of December 18,
2000, and issued and delivered by Financial Guaranty Insurance
Company.
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 December 5, 2000,
between the Underwriter and Financial Guaranty Insurance
Company, as Insurer.
10.2 Demand Note, dated as of December 18, 2000, issued by
GreenPoint Bank.
23.1 Consent of KPMG LLP regarding financial statements of
Financial Guaranty Insurance Company 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 December 13, 2000.