EXHIBIT 99.3

                                                                    PO Box 84013
                                                          Columbus GA 31908-4013
                                                               Tel. 800.784.5566

                                                     [GREENPOINT MORTGAGE LOGO]

TO : RWT HOLDINGS, INC.

      Re : Annual Statement as to Compliance by the Seller

      Pursuant to Section 6.04 of the Mortgage Loan Flow Purchase, Sale, and
Servicing Agreement between GreenPoint Mortgage Funding, Inc. as Seller (the
"Seller") and RWT Holdings, Inc. as Purchaser, dated as of August 1, 2002 (the
"Agreement"), the undersigned officer of the Seller, hereby certifies as to the
following:

            (i) a review of the activities of the Seller during the calendar
      year ended December 31, 2004 (the "Applicable Period") and of the Seller's
      performance under the Agreement has been made under the direct supervision
      of the undersigned officer; and

            (ii) to the best knowledge of the undersigned officer, based on such
      review, the Seller has fulfilled all of its obligations under the
      Agreement throughout the Applicable Period, and there has been no known
      default in the fulfillment of the Seller's obligations throughout such
      Applicable Period.

                                            Very Truly Yours

                                            GREENPOINT MORTGAGE
                                            FUNDING, INC.
                                            as Seller

                                            /s/ Roy Briggs
                                            ----------------------
                                            Name: Roy Briggs
                                            Title: Vice President

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