<PAGE>
Exhibit 99.1
SUBJECT TO REVISION
-------------------
REVISED SERIES TERM SHEET DATED DECEMBER 5, 2000
------------------------------------------------
[Logo of GreenPoint Credit]
$190,000,000 (approximate)
GreenPoint Credit, LLC
Seller and Servicer
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
Attached is a preliminary Series Term Sheet describing the structure, collateral
pool and certain aspects of the GreenPoint Credit, LLC Manufactured Housing
Contract Trust Pass-Through Certificates, Series 2000-6. The Series Term Sheet
has been prepared based on information provided by GreenPoint Credit, LLC and is
for informational purposes only and subject to modification or change. The
information and assumptions contained therein are preliminary and will be
superseded by a prospectus supplement and by any other additional information
subsequently filed with the Securities and Exchange Commission or incorporated
by reference in the Registration Statement.
None of Credit Suisse First Boston Corporation, First Union Securities, Inc., or
any of their respective affiliates makes any representation as to the accuracy
or completeness of any of the information set forth in the attached Series Term
Sheet. This cover sheet is not part of the Series Term Sheet.
A Registration Statement (including a base prospectus) relating to the Pass-
Through Certificates has been filed with the Securities and Exchange Commission.
The final Prospectus Supplement relating to the securities will be filed after
the securities have been priced and all of the terms and information are
finalized. This communication is not an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Interested persons
are referred to the final Prospectus and Prospectus Supplement to which the
securities relate. Any investment decision should be based only upon the
information in the final Prospectus and Prospectus Supplement as of their
publication dates.
Credit Suisse First Boston First Union Securities, Inc.
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
PRELIMINARY INFORMATION ONLY
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
Class A-1 Class A-2 Class A-3
----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Amount (1): $37,000,000 $93,000,000 $60,000,000
Type: Adjustable Adjustable Auction
Coupon [TBD]% [TBD]% [TBD]%
Approximate Price: [TBD]% [TBD]% [TBD]%
Yield (%): [TBD]% [TBD]% [TBD]%
Spread (bps) TBD TBD TBD(2)
Avg Life (To Call): 1.03 4.65 12.18
Avg Life (To Maturity): 1.03 4.65 13.60
1st Principal Payment (To Call): 1/01 11/02 2/09
Last Principal Payment (To Call): 11/02 2/09 9/15
Last Principal Payment (To Maturity): 11/02 2/09 10/30
Stated Maturity: 11/10 09/23 11/31(3)
Expected Settlement: 12/15/00 12/15/00 12/15/00
Payment Delay: 0 days 0 days 0 days
Interest Payment Basis ACT/360 ACT/360 ACT/360
Dated Date: 12/15/00 12/15/00 12/15/00
1st Distribution Date: 1/22/01 1/22/01 1/22/01
Ratings (Moody's/S&P): Aaa/AAA Aaa/AAA Aaa/AAA
Pricing Date: TBD TBD TBD
Prepayment Speed: 200% MHP 200% MHP 200% MHP
----------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) The approximate certificate balance of the Class A Certificates may vary by
plus or minus 5%.
(2) The initial pass-through rate for the Auction Rate certificates will be set
not later than December 14, 2000 and will not exceed the maximum auction
rate. The pass-through rate for the Auction Rate certificates will be
recalculated monthly pursuant to auction procedures.
(3) Final stated maturity for Class A-3 is the twelfth month following the date
on which the Contract with the latest schedule maturity date amortizes
according to its term.
2
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
TITLE OF SECURITIES: GreenPoint Credit Manufactured Housing Contract
Trust Pass-Through Certificates, Series 2000-6
SELLER/SERVICER: GreenPoint Credit, LLC ("GreenPoint")
TRUSTEE: Bank One, National Association
UNDERWRITERS: Credit Suisse First Boston Corporation (Lead),
First Union Securities, Inc. (Co-Manager on Class
A-1 and A-2 Certificates only)
CLASS A CERTIFICATES: Class A-1, Class A-2 and Class A-3 Certificates;
Class A-1 and Class A-2 Certificates are adjustable
rate certificates and Class A-3 Certificates are
auction rate certificates.
OTHER CERTIFICATES: In addition to the Class A Certificates, the Class
R Certificates will be issued. The Class R
Certificates will be retained by an affiliate of
GreenPoint, and are fully subordinated to the Class
A Certificates.
COLLATERAL: The contract pool consists of fixed-rate
manufactured housing installment loans, installment
loan agreements and certain other assets.
COLLATERAL CUT-OFF DATE: November 30, 2000
EXP. PRICING: Week of December 4, 2000
EXP. SETTLEMENT: December 15, 2000
CREDIT ENHANCEMENT: The credit enhancement is provided by
. a Certificate Guaranty Insurance Policy by
Financial Security Assurance Inc.
("FSA");
. a swap to cover certain losses provided by
GreenPoint Bank, if available;
. credit support from the Class R Certificates
(excess spread).
FSA GUARANTY: FSA guarantees the timely payment of interest to
certificateholders and the scheduled payment of
principal. FSA's claims paying ability is rated AAA
and Aaa by Standard & Poor's and Moody's Investors
Service, respectively.
GREENPOINT BANK CREDIT GreenPoint Bank will provide a swap to protect
SWAP: investors against certain losses at the request of
FSA. The swap will be available to cover losses up
to a specified amount as determined by FSA.
GreenPoint Bank is rated BBB and Baa2 by Standard &
Poor's and Moody's Investors Service, respectively.
FSA can terminate the swap at any time in its sole
discretion.
3
<PAGE>
PRIORITY OF DISTRIBUTIONS: On each Distribution Date the Available
Distribution Amount will be distributed in the
following amounts and in the following order of
priority:
(1) first, to each class of the Class A
Certificates, the related Interest
Distribution Amount pro rata among the
Class A Certificates for such
Distribution Date;
(2) second, the Formula Principal
Distribution Amount to the Class A
Certificates, in the following priority:
(a) to the Class A-1 Certificates until
the Class A-1 Certificate Balance is
reduced to zero;
(b) to the Class A-2 Certificates until
the Class A-2 Certificate Balance is
reduced to zero;
(c) to the Class A-3 Certificates until
the Class A-3 Certificate Balance is
reduced to zero;
(3) to the insurer, the insurer fee for that
Distribution Date and any insurer fees
accrued but unpaid from prior
Distribution Dates;
(4) amounts required to be deposited into the
Spread Account as required by the
Insurance Agreement;
(5) any remainder as described in the Pooling
and Servicing Agreement.
PRINCIPAL: For Class A-1 Certificateholders, principal will be
distributed pro rata among such Class of
Certificates.
For Class A-2 Certificateholders, principal will be
distributed pro rata among such Class of
Certifcates.
For Class A-3 Certificates, distributions of
principal will be made in round lots of $25,000 and
integral multiples thereof and will be allocated to
specific Class A-3 Certificates in accordance with
the established random lot procedures of DTC, which
may or may not be by random lot. On any
Distribution Date on which principal is to be
distributed to the Class A-3 Certificates, one or
more holders of the respective certificates may
receive no distributions of principal. In the event
the principal amount of each respective certificate
is less than $25,000 or the respective certificates
are not longer held in book-entry form, principal
will be distributed pro rata among the Class A-3
Certificateholders.
4
<PAGE>
HEDGE AGREEMENT: FSA will require the Trust Fund to enter into a
hedge agreement with the hedge counterparty to
provide FSA with a method to ensure payment of
interest accrual at the pass-through rates on the
Class A Certificates, even if the weighted average
interest rate accruing on the contracts (net of
servicing fees) is lower than the pass-through
rates on the Class A Certificates. All payments to
Certificateholders are unconditionally and
irrevocably guaranteed by FSA. A default in the
obligations of the hedge counterparty will not
relieve FSA of its obligations to
Certificateholders under the certificate guaranty
insurance policy.
HEDGE COUNTERPARTY: Credit Suisse First Boston International.
DISTRIBUTION DATE: The 22nd day of each month (or if such 22nd day is
not a business day, the next succeeding business
day), commencing in January 2001.
RECORD DATE: For the first Distribution Date, the close of
business on the Closing Date and with respect to
subsequent Distribution Dates, the close of
business on the last business day preceding the
Distribution Date.
COLLECTION PERIOD: The calendar month immediately preceding the month
of the Distribution Date.
INTEREST PERIOD: With respect to any Distribution Date and the Class
A Certificates, the Interest Period shall be the
period from the preceding distribution date (or for
the first distribution date, the Closing Date)
through the day prior to the related distribution
date.
OPTIONAL TERMINATION: The Servicer may exercise its right to purchase all
outstanding Contracts on or after the date the
aggregate principal balance of the outstanding
Contracts is less than 10% of the sum of the
original principal balance of the Contracts.
ERISA: Under current law, the purchase and holding of
Class A-1, Class A-2 or Class A-3 certificates by
or on behalf of, or with "plan assets" of, any
employee benefit plan or retirement arrangement
that is subject to the Employee Retirement Income
Security Act of 1974, as amended, and/or Section
4975 of the Internal Revenue Code could result in
non-exempt prohibited transactions under the
Employee Retirement Income Security Act of 1974, as
amended, and/or Section 4975 of the Internal
Revenue Code. Accordingly, the Class A-1, Class A-
2, and Class A-3 Certificates may NOT be acquired
or held by or on behalf of, or with "plan assets"
of, any employee benefit plan or retirement
arrangement that is subject to ERISA and/or Section
4975 of the Internal Revenue Code.
SMMEA: The Class A-1, Class A-2 and Class A-3 Certificates
are expected to constitute "mortgage related
securities" for purposes of the Secondary Mortgage
Market Enhancement Act of 1984 ("SMMEA").
TAX STATUS: REMIC.
5
<PAGE>
AUCTION RATE PROCEDURES: Auction Dates will take place on the business day
immediately preceeding the first day of each
Auction Period. The initial pass-through rate for
the Class A-3 Certificates will be set no later
than December 14, 2000. The first Auction Date
thereafter will be January 19, 2001. Subsequent
Auction Periods will coincide with the Interest
Periods for the Class A-3 Certificates, which begin
on the 22nd of each month (or if such 22nd day is
not a business day, the next succeeding business
day), commencing in January 2001.
Bids are accepted on the prior date for each of the
Class A-3 Certificates. Bid amounts and rates are
collected by the Broker-Dealer. There are three
types of Orders:
. Hold Order--Submitted by an Existing
Certificateholder, this order indicates the
holder would like to continue as the
current bondholder at the current principal
amount, without regard to the rate charged.
If an Existing Certificateholder does not
notify the Broker-Dealer of a Bid or Sell
Order, a Hold Order is assumed.
. Bids--Submitted by either an Existing
Certificateholder who is revising their bid
from a prior auction, or a Potential
Certificateholder entering the market.
. Sell Order--Submitted by Existing
Certificateholders who would like to exit
the market.
A Dutch Auction methodology is used for determining
the final pricing and allocation of the Auction
Rate Certificates.
MAXIMUM AUCTION RATE: The Maximum Auction Rate is the rate assigned to
the auction rate certificates if there is a failed
auction (insufficient bids). In the case of
Certificates that are "AAA" and "Aaa" rated, the
Maximum Auction Rate is LIBOR plus 1.00%.
ALL HOLD RATE: If in an auction, 100% of the Existing
Certificateholders submit Hold Orders, the Rate for
that period will equal 90% of LIBOR for that
period.
SOLE BROKER-DEALER: Credit Suisse First Boston.
AUCTION AGENT: Bankers Trust Company.
AUCTION RATE DESK CONTACTS: Call Lincoln Watkins or Tony Russo on the auction
rate trading desk at (212) 325-3289.
FURTHER INFORMATION: Call the ABS trading desk at (212) 325-2747,
Fiachra O'Driscoll at (212) 325-4940, John Herbert
at (212) 325-2412, Susan Menkhaus at (212) 325-
3475, or Phil Li at (212) 325-5945.
6
<PAGE>
CONTRACT INFORMATION
THE CONTRACT POOL: On the Closing Date, the Trust will purchase a pool
of fixed rate manufactured housing contracts (the
"Contracts") having an aggregate principal balance
of approximately $190,000,000. The 4,421 contracts
listed here have an aggregate scheduled principal
balance as of November 30, 2000 of $189,999,874.81.
------------------------------------------------------
Number of Loans in Pool: 4,421
Total Pool Balance: $189,999,874.81
Average Outstanding Balance $ 42,976.67
------------------------------------------------------
<TABLE>
<CAPTION>
====================================================================================
DOLLAR AMOUNT OF POOL % OF TOTAL POOL BY DOLLAR
------------------------------------------------------------------------------------
<S> <C> <C>
New: $159,324,175.89 83.85%
Used: $ 30,675,698.92 16.15%
Land Home: $ 84,418,362.66 44.43%
Maximum Scheduled Balance: $ 203,595.38
------------------------------------------------------------------------------------
<CAPTION>
-------------------------------------------------------------------------------------------------------------
Average Minimum Maximum
-------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Weighted Average Gross Rate: 11.19% 7.00% 21.00%
Weighted Average Original Term (months): 299.62 24.00 360.00
Weighted Average Remaining Term (months): 296.39 23.00 360.00
Weighted Average Original LTV: 85.74 14.77 99.40
-------------------------------------------------------------------------------------------------------------
</TABLE>
7
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
GEOGRAPHIC DISTRIBUTION OF PROPERTY LOCATION OF CONTRACTS
<TABLE>
<CAPTION>
=====================================================================================
State Count Scheduled Balance % of Total
-------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alabama 207 $ 7,413,588 3.90%
Arizona 138 5,585,291 2.94
Arkansas 134 4,747,921 2.50
California 43 1,574,365 0.83
Colorado 76 2,940,943 1.55
Delaware 32 1,255,431 0.66
Florida 202 9,451,763 4.97
Georgia 218 10,642,361 5.60
Idaho 17 970,243 0.51
Illinois 155 6,328,577 3.33
Indiana 123 5,115,945 2.69
Iowa 33 1,398,594 0.74
Kansas 40 1,579,927 0.83
Kentucky 210 8,169,146 4.30
Louisiana 135 5,954,186 3.13
Maine 28 1,507,538 0.79
Maryland 33 1,330,318 0.70
Michigan 149 7,325,998 3.86
Minnesota 63 2,400,285 1.26
Mississippi 167 5,633,274 2.96
Missouri 155 6,040,380 3.18
Montana 18 1,095,895 0.58
Nebraska 23 1,087,180 0.57
Nevada 26 1,457,660 0.77
New Hampshire 22 1,454,008 0.77
New Jersey 2 84,091 0.04
New Mexico 65 2,549,599 1.34
New York 185 10,142,182 5.34
North Carolina 282 12,542,899 6.60
North Dakota 12 578,090 0.30
Ohio 184 8,465,924 4.46
Oklahoma 88 2,955,921 1.56
Oregon 42 2,306,673 1.21
Pennsylvania 156 6,367,774 3.35
South Carolina 55 1,878,305 0.99
South Dakota 17 765,973 0.40
Tennessee 193 9,479,255 4.99
Texas 285 11,341,470 5.97
Utah 15 774,415 0.41
Vermont 40 2,652,212 1.40
Virginia 155 7,322,389 3.85
Washington 28 1,662,012 0.87
West Virginia 130 4,102,016 2.16
Wisconsin 15 441,482 0.23
Wyoming 25 1,126,375 0.59
-------------------------------------------------------------------------------------
Total: 4,421 $189,999,875 100.00%
-------------------------------------------------------------------------------------
</TABLE>
8
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
DISTRIBUTION OF ORIGINAL AMOUNTS OF CONTRACTS
<TABLE>
<CAPTION>
================================================================================
Original Balance Count Scheduled Balance % of Total
--------------------------------------------------------------------------------
<S> <C> <C> <C>
$ 0.01 - $ 5,000.00 1 $ 4,820 0.00%
$ 5,000.01 - $ 7,500.00 32 206,923 0.11
$ 7,500.01 - $ 10,000.00 90 785,387 0.41
$ 10,000.01 - $ 12,500.00 128 1,425,063 0.75
$ 12,500.01 - $ 15,000.00 159 2,165,504 1.14
$ 15,000.01 - $ 17,500.00 174 2,814,406 1.48
$ 17,500.01 - $ 20,000.00 179 3,334,918 1.76
$ 20,000.01 - $ 22,500.00 194 4,126,797 2.17
$ 22,500.01 - $ 25,000.00 203 4,806,264 2.53
$ 25,000.01 - $ 27,500.00 193 5,067,072 2.67
$ 27,500.01 - $ 30,000.00 223 6,413,484 3.38
$ 30,000.01 - $ 32,500.00 207 6,470,826 3.41
$ 32,500.01 - $ 35,000.00 184 6,177,940 3.25
$ 35,000.01 - $ 40,000.00 370 13,839,354 7.28
$ 40,000.01 - $ 45,000.00 342 14,522,333 7.64
$ 45,000.01 - $ 50,000.00 300 14,246,380 7.50
$ 50,000.01 - $ 55,000.00 264 13,884,824 7.31
$ 55,000.01 - $ 60,000.00 222 12,695,653 6.68
$ 60,000.01 - $ 65,000.00 173 10,760,364 5.66
$ 65,000.01 - $ 70,000.00 144 9,719,310 5.12
$ 70,000.01 - $ 75,000.00 132 9,540,252 5.02
$ 75,000.01 - $ 80,000.00 108 8,383,141 4.41
$ 80,000.01 - $ 85,000.00 85 6,981,540 3.67
$ 85 000.01+ 314 31,627,322 16.65
--------------------------------------------------------------------------------
Total: 4,421 $189,999,875 100.00%
--------------------------------------------------------------------------------
</TABLE>
(1) The largest original Contract amount is $203,883.09. The Scheduled Balance
of this Contract represents 0.11% of the Pool Scheduled Principal Balance.
9
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
DISTRIBUTION OF CONTRACT RATES
<TABLE>
<CAPTION>
================================================================================
CONTRACT RATE COUNT SCHEDULED BALANCE % OF TOTAL
--------------------------------------------------------------------------------
<S> <C> <C> <C>
7.000% to 7.249% 1 $ 70,235 0.04%
7.250% to 7.499% 5 425,917 0.22
7.500% to 7.749% 47 3,680,341 1.94
7.750% to 7.999% 83 6,235,647 3.28
8.000% to 8.249% 57 4,494,110 2.37
8.250% to 8.499% 126 9,150,307 4.82
8.500% to 8.749% 111 8,509,382 4.48
8.750% to 8.999% 118 8,450,664 4.45
9.000% to 9.249% 103 7,686,962 4.05
9.250% to 9.499% 132 7,889,059 4.15
9.500% to 9.749% 81 5,940,508 3.13
9.750% to 9.999% 222 11,305,938 5.95
10.000% to 10.249% 91 5,865,037 3.09
10.250% to 10.499% 208 9,864,455 5.19
10.500% to 10.749% 72 3,867,822 2.04
10.750% to 10.999% 147 7,134,099 3.75
11.000% to 11.249% 114 5,552,111 2.92
11.250% to 11.499% 110 5,080,161 2.67
11.500% to 11.749% 122 5,666,455 2.98
11.750% to 11.999% 93 4,209,403 2.22
12.000% to 12.249% 141 6,092,305 3.21
12.250% to 12.499% 126 4,319,151 2.27
12.500% to 12.749% 162 6,432,892 3.39
12.750% to 12.999% 85 3,130,051 1.65
13.000% to 13.249% 180 6,064,515 3.19
13.250% to 13.499% 98 3,357,602 1.77
13.500% to 13.749% 157 5,762,328 3.03
13.750% to 13.999% 110 3,278,558 1.73
14.000% to 14.249% 82 2,724,720 1.43
14.250% to 14.499% 91 2,566,427 1.35
14.500% to 14.749% 65 1,780,814 0.94
14.750% to 14.999% 90 2,697,069 1.42
15.000% to 15.249% 96 2,564,992 1.35
15.250% to 15.499% 115 2,459,372 1.29
15.500% to 15.749% 62 1,882,856 0.99
15.750% to 15.999% 107 2,503,336 1.32
16.000% to 16.249% 123 2,203,623 1.16
Greater than 16.24% 488 9,100,651 4.79
--------------------------------------------------------------------------------
Total: 4,421 $189,999,875 100.00%
--------------------------------------------------------------------------------
</TABLE>
10
<PAGE>
DISTRIBUTION OF ORIGINAL LOAN-TO-VALUE RATIOS OF CONTRACTS
<TABLE>
<CAPTION>
================================================================================
LTV Range Count Scheduled Balance % of Total
--------------------------------------------------------------------------------
<S> <C> <C> <C>
1.000% to 50.499% 87 $ 1,535,881 0.81%
50.500% to 60.499% 99 3,343,002 1.76
60.500% to 70.499% 167 7,004,396 3.69
70.500% to 80.499% 793 33,323,469 17.54
80.500% to 85.499% 535 27,355,280 14.40
85.500% to 90.499% 1,559 66,452,792 34.98
90.500% to 95.499% 1,050 46,658,902 24.56
95.500% to 100.499% 131 4,326,153 2.28
--------------------------------------------------------------------------------
Total: 4,421 $189,999,875 100.00%
--------------------------------------------------------------------------------
</TABLE>
REMAINING MONTHS TO MATURITY OF CONTRACTS
<TABLE>
<CAPTION>
================================================================================
Remaining Term Range Count Scheduled Balance % of Total
--------------------------------------------------------------------------------
<S> <C> <C> <C>
1 to 30 2 $ 19,638 0.01%
31 to 60 46 547,382 0.29
61 to 90 53 740,542 0.39
91 to 120 333 5,673,051 2.99
121 to 150 88 1,685,334 0.89
151 to 180 765 18,852,968 9.92
181 to 210 4 179,628 0.09
211 to 240 1,300 47,435,714 24.97
241 to 270 2 71,167 0.04
271 to 300 101 4,870,627 2.56
301 to 360 1,727 109,923,824 57.85
--------------------------------------------------------------------------------
Total: 4,421 $189,999,875 100.00%
--------------------------------------------------------------------------------
</TABLE>
11
<PAGE>
Manufactured Housing Contract Trust Pass-Through Certificates, Series 2000-6
December 5, 2000
MHP Prepayment Sensitivities
<TABLE>
<CAPTION>
=======================================================================================================
WAL MATURITY WAL MATURITY WAL MATURITY
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0% MHP 150% MHP 175% MHP
----- ------- --------
To Call
Class A-1 5.855 11/10 1.279 05/03 1.142 01/03
Class A-2 16.391 09/23 5.836 02/11 5.176 01/10
Class A-3 26.422 01/29 14.779 08/18 13.403 02/17
To Maturity
Class A-1 5.855 11/10 1.279 05/03 1.142 01/03
Class A-2 16.391 09/23 5.836 02/11 5.176 01/10
Class A-3 26.715 10/30 16.189 10/30 14.816 10/30
200% MHP 250% MHP 275% MHP
------- ------- --------
To Call
Class A-1 1.033 11/02 0.869 07/02 0.806 06/02
Class A-2 4.645 02/09 3.848 09/07 3.543 03/07
Class A-3 12.184 09/15 10.239 06/13 9.453 07/12
To Maturity
Class A-1 1.033 11/02 0.869 07/02 0.806 06/02
Class A-2 4.645 02/09 3.848 09/07 3.543 03/07
Class A-3 13.595 10/30 11.562 10/30 10.717 10/30
-------------------------------------------------------------------------------------------------------
</TABLE>
12
