<TABLE>
<CAPTION>
HSBC Mortgage Corporation (USA)
Mortgage Pass-Through Certificates
Record Date: 11/30/00
Distribution Date: 12/15/00
HSB Series: 2000-1
Contact: Customer Service - CTSLink
Wells Fargo Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 40428WAA7 SEN_FLT 7.11000% 137,000,000.00 811,725.00 3,392,033.56
A-2 40428WAB5 SEN_FLT 7.11000% 99,000,000.00 586,575.00 0.00
A-3 40428WAC3 SEN_FLT 7.11000% 137,493,000.00 814,646.02 0.00
X 40428WAD1 SEN_FLT 0.15000% 0.00 49,014.93 0.00
B-1 40428WAF6 JUN_FLT 7.11000% 5,881,000.00 34,844.92 0.00
B-2 40428WAG4 JUN_FLT 7.11000% 3,921,000.00 23,231.93 0.00
B-3 40428WAH2 JUN_FLT 7.11000% 2,940,000.00 17,419.50 0.00
B-4 40428WAJ8 JUN_FLT 7.11000% 2,156,000.00 12,774.30 0.00
B-5 40428WAK5 JUN_FLT 7.11000% 1,372,000.00 8,129.10 0.00
B-6 40428WAL3 JUN_FLT 7.11000% 2,356,309.58 13,961.13 0.00
A-R 40428WAE9 SEN_RES 7.11000% 100.00 25.47 100.00
R-1 RESIDUAL 0.00000% 0.00 0.00 0.00
R-2 RESIDUAL 0.00000% 0.00 0.00 0.00
Totals 392,119,409.58 2,372,347.30 3,392,133.56
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 133,607,966.44 4,203,758.56 0.00
A-2 0.00 99,000,000.00 586,575.00 0.00
A-3 0.00 137,493,000.00 814,646.02 0.00
X 0.00 0.00 49,014.93 0.00
B-1 0.00 5,881,000.00 34,844.92 0.00
B-2 0.00 3,921,000.00 23,231.93 0.00
B-3 0.00 2,940,000.00 17,419.50 0.00
B-4 0.00 2,156,000.00 12,774.30 0.00
B-5 0.00 1,372,000.00 8,129.10 0.00
B-6 0.00 2,356,309.58 13,961.13 0.00
A-R 0.00 0.00 125.47 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
Totals 0.00 388,727,276.02 5,764,480.86 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A-1 137,000,000.00 137,000,000.00 282,109.77 3,109,923.79 0.00 0.00
A-2 99,000,000.00 99,000,000.00 0.00 0.00 0.00 0.00
A-3 137,493,000.00 137,493,000.00 0.00 0.00 0.00 0.00
X 0.00 0.00 0.00 0.00 0.00 0.00
B-1 5,881,000.00 5,881,000.00 0.00 0.00 0.00 0.00
B-2 3,921,000.00 3,921,000.00 0.00 0.00 0.00 0.00
B-3 2,940,000.00 2,940,000.00 0.00 0.00 0.00 0.00
B-4 2,156,000.00 2,156,000.00 0.00 0.00 0.00 0.00
B-5 1,372,000.00 1,372,000.00 0.00 0.00 0.00 0.00
B-6 2,356,309.58 2,356,309.58 0.00 0.00 0.00 0.00
A-R 100.00 100.00 8.32 91.68 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
Totals 392,119,409.58 392,119,409.58 282,118.09 3,110,015.47 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A-1 3,392,033.56 133,607,966.44 0.97524063 3,392,033.56
A-2 0.00 99,000,000.00 1.00000000 0.00
A-3 0.00 137,493,000.00 1.00000000 0.00
X 0.00 0.00 0.00000000 0.00
B-1 0.00 5,881,000.00 1.00000000 0.00
B-2 0.00 3,921,000.00 1.00000000 0.00
B-3 0.00 2,940,000.00 1.00000000 0.00
B-4 0.00 2,156,000.00 1.00000000 0.00
B-5 0.00 1,372,000.00 1.00000000 0.00
B-6 0.00 2,356,309.58 1.00000000 0.00
A-R 100.00 0.00 0.00000000 100.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
Totals 3,392,133.56 388,727,276.02 0.99134923 3,392,133.56
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A-1 137,000,000.00 1000.00000000 2.05919540 22.70017365 0.00000000
A-2 99,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 137,493,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
X 0.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 5,881,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 3,921,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-3 2,940,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-4 2,156,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-5 1,372,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-6 2,356,309.58 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 1000.00000000 83.20000000 916.80000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 24.75936905 975.24063095 0.97524063 24.75936905
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 137,000,000.00 7.11000% 137,000,000.00 811,725.00 0.00 0.00
A-2 99,000,000.00 7.11000% 99,000,000.00 586,575.00 0.00 0.00
A-3 137,493,000.00 7.11000% 137,493,000.00 814,646.03 0.00 0.00
X 0.00 0.15000% 392,119,409.58 49,014.93 0.00 0.00
B-1 5,881,000.00 7.11000% 5,881,000.00 34,844.93 0.00 0.00
B-2 3,921,000.00 7.11000% 3,921,000.00 23,231.93 0.00 0.00
B-3 2,940,000.00 7.11000% 2,940,000.00 17,419.50 0.00 0.00
B-4 2,156,000.00 7.11000% 2,156,000.00 12,774.30 0.00 0.00
B-5 1,372,000.00 7.11000% 1,372,000.00 8,129.10 0.00 0.00
B-6 2,356,309.58 7.11000% 2,356,309.58 13,961.13 0.00 0.00
A-R 100.00 7.11000% 100.00 0.59 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 392,119,409.58 2,372,322.44 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 811,725.00 0.00 133,607,966.44
A-2 0.00 0.00 586,575.00 0.00 99,000,000.00
A-3 0.00 0.00 814,646.02 0.00 137,493,000.00
X 0.00 0.00 49,014.93 0.00 388,727,276.02
B-1 0.00 0.00 34,844.92 0.00 5,881,000.00
B-2 0.00 0.00 23,231.93 0.00 3,921,000.00
B-3 0.00 0.00 17,419.50 0.00 2,940,000.00
B-4 0.00 0.00 12,774.30 0.00 2,156,000.00
B-5 0.00 0.00 8,129.10 0.00 1,372,000.00
B-6 0.00 0.00 13,961.13 0.00 2,356,309.58
A-R 0.00 0.00 25.47 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,372,347.30 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 137,000,000.00 7.11000% 1000.00000000 5.92500000 0.00000000 0.00000000
A-2 99,000,000.00 7.11000% 1000.00000000 5.92500000 0.00000000 0.00000000
A-3 137,493,000.00 7.11000% 1000.00000000 5.92500004 0.00000000 0.00000000
X 0.00 0.15000% 1000.00000000 0.12500001 0.00000000 0.00000000
B-1 5,881,000.00 7.11000% 1000.00000000 5.92500085 0.00000000 0.00000000
B-2 3,921,000.00 7.11000% 1000.00000000 5.92500128 0.00000000 0.00000000
B-3 2,940,000.00 7.11000% 1000.00000000 5.92500000 0.00000000 0.00000000
B-4 2,156,000.00 7.11000% 1000.00000000 5.92500000 0.00000000 0.00000000
B-5 1,372,000.00 7.11000% 1000.00000000 5.92500000 0.00000000 0.00000000
B-6 2,356,309.58 7.11000% 1000.00000000 5.92499819 0.00000000 0.00000000
A-R 100.00 7.11000% 1000.00000000 5.90000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 5.92500000 0.00000000 975.24063095
A-2 0.00000000 0.00000000 5.92500000 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.92499996 0.00000000 1000.00000000
X 0.00000000 0.00000000 0.12500001 0.00000000 991.34923323
B-1 0.00000000 0.00000000 5.92499915 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 5.92500128 0.00000000 1000.00000000
B-3 0.00000000 0.00000000 5.92500000 0.00000000 1000.00000000
B-4 0.00000000 0.00000000 5.92500000 0.00000000 1000.00000000
B-5 0.00000000 0.00000000 5.92500000 0.00000000 1000.00000000
B-6 0.00000000 0.00000000 5.92499819 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 254.70000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 5,959,680.69
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 2,493.71
Realized Losses 0.00
Total Deposits 5,962,174.40
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 197,693.54
Payment of Interest and Principal 5,764,480.86
Total Withdrawals (Pool Distribution Amount) 5,962,174.40
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 196,059.70
Trustee - Wells Fargo Bank, N.A. 1,633.84
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 197,693.54
</TABLE>
<TABLE>
<CAPTION> LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<S> <C> <C> <C> <C> <C>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
382,849.31 0.00 0.00 0.00 382,849.31
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 1 0 0 0 1
382,849.31 0.00 0.00 0.00 382,849.31
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.094877% 0.000000% 0.000000% 0.000000% 0.094877%
0.098437% 0.000000% 0.000000% 0.000000% 0.098437%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.094877% 0.000000% 0.000000% 0.000000% 0.094877%
0.098437% 0.000000% 0.000000% 0.000000% 0.098437%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 2,493.71
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 200,000.00 0.05100487% 200,000.00 0.05144995%
Fraud 7,842,388.00 1.99999995% 7,842,388.00 2.01745246%
Special Hazard 6,733,281.00 1.71715065% 6,733,281.00 1.73213495%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description 5/1 CMT ARM
Weighted Average Gross Coupon 7.865076%
Weighted Average Net Coupon 7.265076%
Weighted Average Pass-Through Rate 7.260076%
Weighted Average Maturity(Stepdown Calculation ) 355
Beginning Scheduled Collateral Loan Count 1,061
Number Of Loans Paid In Full 7
Ending Scheduled Collateral Loan Count 1,054
Beginning Scheduled Collateral Balance 392,119,409.58
Ending Scheduled Collateral Balance 388,727,276.02
Ending Actual Collateral Balance at 30-Nov-2000 388,927,489.28
Monthly P &I Constant 2,852,158.93
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Senior Percentage 100%
Subordinate Percentage 0.00%
Senior Prepayment Percentage 100%
Pro Rata Senior Percentage 95.2498%
</TABLE>