UNITED STATES
                       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):  May 15, 2001


                         SOUNDVIEW HOME EQUITY LOAN TRUST
                Home Equity Loan Asset-Backed Certs., Series 2001-1
              (Exact name of registrant as specified in its charter)

New York (governing law of           333-84929-07
Pooling and Servicing Agreement)     (Commission
(State or other                      File Number)       52-2316396
jurisdiction                                            52-2316397
of Incorporation)                                       52-2316398
                                                        IRS EIN



       c/o Wells Fargo Bank Minnesota, N.A.
       11000 Broken Land Parkway
       Columbia, MD                                        21044
       (Address of principal executive offices)            (Zip Code)

       Registrant's telephone number, including area code:  (410) 884-2000


       Former name or former address, if changed since last report)



ITEM 5.  Other Events

On May 15, 2001 a distribution was made to holders of SOUNDVIEW HOME EQUITY LOAN
TRUST, Home Equity Loan Asset-Backed Certs., Series 2001-1.


ITEM 7.  Financial Statements and Exhibits

      (c)  Exhibits furnished in accordance with Item 601(a) of
Regulation S-K


           Exhibit Number                        Description

           EX-99.1                               Monthly report distributed to
                                                 holders of Home Equity Loan
                                                 Asset-Backed Certs., Series
                                                 2001-1, relating to the
                                                 May 15, 2001 distribution.



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.



                         SOUNDVIEW HOME EQUITY LOAN TRUST
                 Home Equity Loan Asset-Backed Certs., Series 2001-1

              By:   Wells Fargo Bank Minnesota, N.A. as Trustee
              By:   /s/ Sherri Sharps, Vice President
              By:   Sherri Sharps, Vice President
              Date: 5/21/01


                                INDEX TO EXHIBITS


Exhibit Number               Description

EX-99.1                     Monthly report distributed to holders of Home Equity
                            Loan Asset-Backed Certs., Series 2001-1,
                            relating to the May 15, 2001 distribution.





                   EX-99.1



Soundview
Mortgage Pass-Through Certificates



Record Date:            4/30/01
Distribution Date:      5/15/01


SDV  Series: 2001-1

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

                                                                            
     A         83611PAJ0         SEN          6.26500%     92,125,000.00      480,969.27      929,227.16
     IO        83611PAK7         SEN          7.00000%              0.00      250,446.43            0.00
    M_1        83611PAL5         MEZ          7.10000%      6,335,000.00       37,482.08            0.00
    M_2        83611PAM3         MEZ          7.10000%      4,223,000.00       24,986.08            0.00
     B         83611PAN1         JUN          7.10000%      2,903,000.00       17,176.08            0.00
    BIO        SDV011BIO         JUN          0.00000%            528.25            0.00            0.00
    R_1        SDV0101R1         SEN          0.00000%              0.00            0.00            0.00
    R_2        SDV0101R2         SEN          0.00000%              0.00            0.00            0.00
    R_3        SDV0101R3         SEN          0.00000%              0.00            0.00            0.00
     P         SDV01001P         JUN          0.00000%            100.00       15,615.52            0.00
Totals                                                    105,586,628.25      826,675.46      929,227.16




                                       Certificateholder Distribution Summary (continued)

                             Current             Ending                                               Cumulative
                            Realized           Certificate                Total                        Realized
Class                         Loss               Balance               Distribution                     Losses

                                                                                           
A                              0.00          91,195,772.84             1,410,196.43                      0.00
IO                             0.00                   0.00               250,446.43                      0.00
M_1                            0.00           6,335,000.00                37,482.08                      0.00
M_2                            0.00           4,223,000.00                24,986.08                      0.00
B                              0.00           2,903,000.00                17,176.08                      0.00
BIO                            0.00                 528.25                     0.00                      0.00
R_1                            0.00                   0.00                     0.00                      0.00
R_2                            0.00                   0.00                     0.00                      0.00
R_3                            0.00                   0.00                     0.00                      0.00
P                              0.00                 100.00                15,615.52                      0.00
Totals                         0.00         104,657,401.09             1,755,902.62                      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>




                                                Principal Distribution Statement

                        Original          Beginning             Scheduled      Unscheduled
                          Face           Certificate            Principal      Principal                         Realized
Class                    Amount            Balance             Distribution   Distribution       Accretion        Loss (1)

                                                                                                
A                    92,125,000.00      92,125,000.00               0.00      929,227.16           0.00            0.00
IO                            0.00               0.00               0.00            0.00           0.00            0.00
M_1                   6,335,000.00       6,335,000.00               0.00            0.00           0.00            0.00
M_2                   4,223,000.00       4,223,000.00               0.00            0.00           0.00            0.00
B                     2,903,000.00       2,903,000.00               0.00            0.00           0.00            0.00
BIO                         528.25             528.25               0.00            0.00           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
R_3                           0.00               0.00               0.00            0.00           0.00            0.00
P                           100.00             100.00               0.00            0.00           0.00            0.00
                            100.00             100.00               0.00            0.00           0.00            0.00
Totals              105,586,728.25     105,586,728.25               0.00      929,227.16           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>




                                          Principal Distribution Statement (continued)

                                   Total                Ending                Ending             Total
                                 Principal           Certificate           Certificate         Principal
Class                            Reduction             Balance              Percentage      Distribution

                                                                                 
A                               929,227.16         91,195,772.84           0.98991341        929,227.16
IO                                    0.00                  0.00           0.00000000              0.00
M_1                                   0.00          6,335,000.00           1.00000000              0.00
M_2                                   0.00          4,223,000.00           1.00000000              0.00
B                                     0.00          2,903,000.00           1.00000000              0.00
BIO                                   0.00                528.25           1.00000000              0.00
R_1                                   0.00                  0.00           0.00000000              0.00
R_2                                   0.00                  0.00           0.00000000              0.00
R_3                                   0.00                  0.00           0.00000000              0.00
P                                     0.00                100.00           1.00000000              0.00
P                                     0.00                100.00           1.00000000              0.00
Totals                          929,227.16        104,657,501.09           0.99119939        929,227.16





                                              Principal Distribution Factors Statement

                           Original           Beginning          Scheduled         Unscheduled
                               Face         Certificate          Principal           Principal
Class (2)                    Amount             Balance       Distribution        Distribution         Accretion

                                                                                        
A                      92,125,000.00       1000.00000000         0.00000000         10.08659061        0.00000000
IO                              0.00          0.00000000         0.00000000          0.00000000        0.00000000
M_1                     6,335,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
M_2                     4,223,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
B                       2,903,000.00       1000.00000000         0.00000000          0.00000000        0.00000000
BIO                           528.25       1000.00000000         0.00000000          0.00000000        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
R_3                             0.00          0.00000000         0.00000000          0.00000000        0.00000000
P                             100.00       1000.00000000         0.00000000          0.00000000        0.00000000
<FN>
(2) All Classes are per $1,000 denomination.
</FN>







                                      Principal Distribution Factors Statement (continued)

                                                Total                 Ending               Ending              Total
                         Realized           Principal            Certificate          Certificate          Principal
Class                    Loss (3)           Reduction                Balance           Percentage       Distribution

                                                                                           
A                       0.00000000         10.08659061            989.91340939          0.98991341        10.08659061
IO                      0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
M_1                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
M_2                     0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
B                       0.00000000          0.00000000          1,000.00000000          1.00000000         0.00000000
BIO                     0.00000000          0.00000000          1,000.00000000          1.00000000         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
R_3                     0.00000000          0.00000000              0.00000000          0.00000000         0.00000000
P                       0.00000000          0.00000000          1,000.00000000          1.00000000         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>









                                                 Interest Distribution Statement

                                                          Beginning                            Payment of
                      Original            Current        Certificate/          Current           Unpaid           Current
                          Face          Certificate        Notional            Accrued           Interest         Interest
Class                   Amount             Rate            Balance             Interest         Shortfall

                                                                                                
A                  92,125,000.00            6.27      92,125,000.00          480,969.27           0.00             0.00
IO                          0.00            7.00      42,933,673.00          250,446.43           0.00             0.00
M_1                 6,335,000.00            7.10       6,335,000.00           37,482.08           0.00             0.00
M_2                 4,223,000.00            7.10       4,223,000.00           24,986.08           0.00             0.00
B                   2,903,000.00            7.10       2,903,000.00           17,176.08           0.00             0.00
BIO                       528.25            0.00             528.25                0.00           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
R_3                         0.00            0.00               0.00                0.00           0.00             0.00
P                         100.00            0.00             100.00                0.00           0.00             0.00
Totals            105,586,628.25                                             811,059.94           0.00             0.00

 
 

                                            Interest Distribution Statement (continued)

                                                                                         Remaining          Ending
                            Non-Supported                              Total               Unpaid         Certificate/
                              Interest             Realized          Interest             Interest        Notional
Class                         Shortfall            Losses (4)      Distribution           Shortfall       Balance

                                                                                       
 A                              0.00                0.00           480,969.27                0.00      91,195,772.84
 IO                             0.00                0.00           250,446.43                0.00      42,933,673.00
 M_1                            0.00                0.00            37,482.08                0.00       6,335,000.00
 M_2                            0.00                0.00            24,986.08                0.00       4,223,000.00
 B                              0.00                0.00            17,176.08                0.00       2,903,000.00
 BIO                            0.00                0.00                 0.00                0.00             528.25
 R_1                            0.00                0.00                 0.00                0.00               0.00
 R_2                            0.00                0.00                 0.00                0.00               0.00
 R_3                            0.00                0.00                 0.00                0.00               0.00
 P                              0.00                0.00            15,615.52                0.00             100.00
 Totals                         0.00                0.00           826,675.46                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>
 



                                            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

                                                                                                
A                    92,125,000.00        6.26500%        1000.00000000        5.22083332        0.00000000        0.00000000
IO                            0.00        7.00000%        1000.00000000        5.83333343        0.00000000        0.00000000
M_1                   6,335,000.00        7.10000%        1000.00000000        5.91666614        0.00000000        0.00000000
M_2                   4,223,000.00        7.10000%        1000.00000000        5.91666588        0.00000000        0.00000000
B                     2,903,000.00        7.10000%        1000.00000000        5.91666552        0.00000000        0.00000000
BIO                         528.25        0.00000%        1000.00000000        0.00000000        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
R_3                           0.00        0.00000%           0.00000000        0.00000000        0.00000000        0.00000000
P                           100.00        0.00000%        1000.00000000        0.00000000        0.00000000        0.00000000
<FN>
(5) All Classes are per $1,000 denomination.

</FN>




                                       Interest Distribution Factors Statement (continued)

                                                                                Remaining            Ending
                      Non-Supported                           Total             Unpaid             Certificate/
                        Interest          Realized           Interest           Interest             Notional
Class                  Shortfall          Losses (6)       Distribution        Shortfall             Balance

                                                                                  
A                     0.00000000        0.00000000         5.22083332          0.00000000          989.91340939
IO                    0.00000000        0.00000000         5.83333343          0.00000000         1000.00000000
M_1                   0.00000000        0.00000000         5.91666614          0.00000000         1000.00000000
M_2                   0.00000000        0.00000000         5.91666588          0.00000000         1000.00000000
B                     0.00000000        0.00000000         5.91666552          0.00000000         1000.00000000
BIO                   0.00000000        0.00000000         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
R_3                   0.00000000        0.00000000         0.00000000          0.00000000            0.00000000
P                     0.00000000        0.00000000    156155.20000000          0.00000000         1000.00000000
<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>








                                             Certificateholder Component Statement

                      Component           Beginning           Ending         Beginning          Ending           Ending
                     Pass-Through         Notional           Notional        Component          Component       Component
Class                    Rate              Balance            Balance        Balance            Balance         Percentage

                                                                                            
       OC               0.00000%             0.00               0.00             0.00         131,414.76      0.00000000%
      FSA               0.09000%             0.00               0.00             0.00               0.00      0.00000000%



                                             CERTIFICATEHOLDER ACCOUNT STATEMENT
                                                      CERTIFICATE ACCOUNT

                                                                                                
Beginning Balance                                                                                        0.00
Deposits
    Payments of Interest and Principal                                                           1,526,137.04
    Liquidations, Insurance Proceeds, Reserve Funds                                                      0.00
    Proceeds from Repurchased Loans                                                                      0.00
    Other Amounts (Servicer Advances)                                                              284,188.95
    Realized Losses                                                                                      0.00
Total Deposits                                                                                   1,810,325.99

Withdrawals
    Reimbursement for Servicer Advances                                                                  0.00
    Payment of Service Fee                                                                          54,423.37
    Payment of Interest and Principal                                                            1,755,902.62
Total Withdrawals (Pool Distribution Amount)                                                     1,810,325.99

Ending Balance                                                                                           0.00





                                            PREPAYMENT/CURTAILMENT INTEREST SHORTFALL


                                                                                   

Total Prepayment/Curtailment Interest Shortfall                                                          0.00
Servicing Fee Support                                                                                    0.00
Non-Supported Prepayment/Curtailment Interest Shortfall                                                  0.00





                                                         SERVICING FEES

                                                                                   
Gross Servicing Fee                                                                                 43,994.43
Trustee Fee- Wells Fargo Bank                                                                        2,639.67
FSA - Policy # 51074-N                                                                               6,909.38
Master Serv Fee                                                                                        879.89
Supported Prepayment/Curtailment Interest Shortfall                                                      0.00
Net Servicing Fee                                                                                   54,423.37






                                                         OTHER ACCOUNTS

                                                Beginning           Current           Current           Ending
Account Type                                      Balance       Withdrawals          Deposits          Balance

                                                                                           
Reserve Fund                                      5,000.00              0.00              0.00         5,000.00
Financial Guaranty                                    0.00              0.00              0.00             0.00



                                                      LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

         DELINQUENT             BANKRUPTCY             FORECLOSURE            REO                    Total

                                                                                        

          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   80                    0                      0                      0                      80
          5,034,339.44          0.00                   0.00                   0.00                   5,034,339.44

60 Days   19                    0                      0                      0                      19
          1,185,342.11          0.00                   0.00                   0.00                   1,185,342.11

90 Days   1                     0                      0                      0                      1
          59,929.99             0.00                   0.00                   0.00                   59,929.99

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    100                   0                      0                      0                      100
          6,279,611.54          0.00                   0.00                   0.00                   6,279,611.54


          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   5.524862%             0.000000%              0.000000%              0.000000%              5.524862%
          4.803328%             0.000000%              0.000000%              0.000000%              4.803328%

60 Days   1.312155%             0.000000%              0.000000%              0.000000%              1.312155%
          1.130950%             0.000000%              0.000000%              0.000000%              1.130950%

90 Days   0.069061%             0.000000%              0.000000%              0.000000%              0.069061%
          0.057180%             0.000000%              0.000000%              0.000000%              0.057180%

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    6.906077%             0.000000%              0.000000%              0.000000%              6.906077%
          5.991458%             0.000000%              0.000000%              0.000000%              5.991458%


                                     Delinquency Status By Groups

           DELINQUENT            BANKRUPTCY           FORECLOSURE           REO                  Total
                                                                                  
Group 1    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    49                    0                    0                     0                    49
           3,067,436.66          0.00                 0.00                  0.00                 3,067,436.66

60 Days    11                    0                    0                     0                    11
           635,156.93            0.00                 0.00                  0.00                 635,156.93

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     60                    0                    0                     0                    60
           3,702,593.59          0.00                 0.00                  0.00                 3,702,593.59



0-29 Days                        0.000000%            0.000000%             0.000000%            0.000000%
                                 0.000000%            0.000000%             0.000000%            0.000000%

30 Days    4.832347%             0.000000%            0.000000%             0.000000%            4.832347%
           4.351983%             0.000000%            0.000000%             0.000000%            4.351983%

60 Days    1.084813%             0.000000%            0.000000%             0.000000%            1.084813%
           0.901141%             0.000000%            0.000000%             0.000000%            0.901141%

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     5.917160%             0.000000%            0.000000%             0.000000%            5.917160%
           5.253123%             0.000000%            0.000000%             0.000000%            5.253123%



           DELINQUENT            BANKRUPTCY           FORECLOSURE           REO                  Total
                                                                                  
Group 2    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    31                    0                    0                     0                    31
           1,966,902.78          0.00                 0.00                  0.00                 1,966,902.78

60 Days    8                     0                    0                     0                    8
           550,185.18            0.00                 0.00                  0.00                 550,185.18

90 Days    1                     0                    0                     0                    1
           59,929.99             0.00                 0.00                  0.00                 59,929.99

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     40                    0                    0                     0                    40
           2,577,017.95          0.00                 0.00                  0.00                 2,577,017.95



0-29 Days                        0.000000%            0.000000%             0.000000%            0.000000%
                                 0.000000%            0.000000%             0.000000%            0.000000%

30 Days    7.142857%             0.000000%            0.000000%             0.000000%            7.142857%
           5.730109%             0.000000%            0.000000%             0.000000%            5.730109%

60 Days    1.843318%             0.000000%            0.000000%             0.000000%            1.843318%
           1.602835%             0.000000%            0.000000%             0.000000%            1.602835%

90 Days    0.230415%             0.000000%            0.000000%             0.000000%            0.230415%
           0.174592%             0.000000%            0.000000%             0.000000%            0.174592%

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     9.216590%             0.000000%            0.000000%             0.000000%            9.216590%
           7.507537%             0.000000%            0.000000%             0.000000%            7.507537%







                                                       OTHER INFORMATION

                                                                             
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                                                                               284,188.95







 
 
                               COLLATERAL STATEMENT
                                                            
 Collateral Description                                        Mixed Fixed & Arm

 Weighted Average Gross Coupon                                        11.329821%
 Weighted Average Net Coupon                                          10.825206%
 Weighted Average Pass-Through Rate                                   10.795205%
 Weighted Average Maturity(Stepdown Calculation )                            359
 Beginning Scheduled Collateral Loan Count                                 1,456

 Number Of Loans Paid In Full                                                  8
 Ending Scheduled Collateral Loan Count                                    1,448
 Beginning Scheduled Collateral Balance                           105,586,728.25
 Ending Scheduled Collateral Balance                              104,788,815.85
 Ending Actual Collateral Balance at 30-Apr-2001                  104,809,404.39
 Monthly P &I Constant                                              1,101,442.32
 Ending Scheduled Balance for Premium Loans                       104,788,815.85
 Scheduled Principal                                                   88,928.78
 Unscheduled Principal                                                708,883.62

 Required Overcollateralization Amount                                      0.00
 Overcollateralized Increase Amount                                   131,414.76
 Overcollateralized reduction Amount                                        0.00
 Specified O/C Amount                                               2,322,892.00
 Overcollateralized Amount                                            131,414.76
 Overcollateralized Deficiency Amount                               2,322,892.00
 Base Overcollateralized Amount                                             0.00
 Extra principal distribution Amount                                        0.00
 Excess Cash Amount                                                   131,414.76
 


                                                              
Cumulative Loss Event Occurred                                            No
Delinquency Event Occurred                                                No
Curtailments                                                      $14,085.94

 
 
                                      Group Level Collateral Statement
                                                                 
 Group ID                                                                     1                         2                   Total
 Collateral Description                                       Fixed 15/30 & ARM         Fixed 15/30 & ARM
 Weighted Average Coupon Rate                                         11.561886                 11.394336
 Weighted Average Net Rate                                            11.021887                 10.854336
 Weighted Average Maturity                                                 0.00                      0.00
 Beginning Loan Count                                                     1,021                       435                   1,456
 Loans Paid In Full                                                           7                         1                       8
 Ending Loan Count                                                        1,014                       434                   1,448
 Beginning Scheduled Balance                                      71,183,194.43             34,403,433.82          105,586,628.25
 Ending scheduled Balance                                         70,467,115.80             34,321,700.05          104,788,815.85
 Record Date                                                            4/30/01                   4/30/01
 Principal And Interest Constant                                     762,430.06                339,012.26            1,101,442.32
 Scheduled Principal                                                  76,586.75                 12,342.03               88,928.78
 Unscheduled Principal                                               639,491.88                 69,391.74              708,883.62
 Scheduled Interest                                                  685,843.31                326,670.23            1,012,513.54


 Servicing Fees                                                       29,659.66                 14,334.76               43,994.42
 Master Servicing Fees                                                     0.00                      0.00                    0.00
 Trustee Fee                                                           1,779.55                    860.09                2,639.64
 FRY Amount                                                              593.19                    286.69                  879.88
 Special Hazard Fee                                                        0.00                      0.00                    0.00
 Other Fee                                                                 0.00                      0.00                    0.00
 Pool Insurance Fee                                                        0.00                      0.00                    0.00
 Spread Fee 1                                                              0.00                      0.00                    0.00
 Spread Fee 2                                                              0.00                      0.00                    0.00
 Spread Fee 3                                                              0.00                      0.00                    0.00
 Net Interest                                                        653,810.91                311,188.69              964,999.60
 Realized Loss Amount                                                      0.00                      0.00                    0.00
 Cumulative Realized Loss                                                  0.00                      0.00                    0.00
 Percentage of Cumulative Losses                                           0.00                      0.00                    0.00