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) 26-Jun-00
NEW CENTURY MORTGAGE SECURITIES, INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF JUNE 1, 2000, PROVIDING FOR THE ISSUANCE OF
SOUNDVIEW HOME EQUITY LOAN ASSET-BACKED
CERTIFICATES SERIES 2000-1
Financial Asset Securities Corp.
(Exact name of registrant as specified in its charter)
Delaware 333-84929 06-1442101
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
600 Steamboat Road
Greenwich, Connecticut 06830
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: 203-625-2700
Item 5. Other Events
On 26-Jun-00a scheduled distribution was made from the
trust to holders of the certificates. The Trustee has caused
to be filed with the commission, the Monthly Report dated
26-Jun-00The Monthly Report is filed pursuant to and
in accordance with (1) numerous no-action letters (2) current
Commission policy in the area.
A. Monthly Report Information:
See Exhibit No.1
B. Have any deficiencies occurred? NO.
Date:
Amount:
C. Item 1: Legal Proceedings: NONE
D. Item 2: Changes in Securities:NONE
E. Item 4: Submission of Matters to a Vote of Certificateholders: NONE
F. Item 5: Other Information - Form 10-Q, Part II -
Items 1,2,4,5 if applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No.
1. Monthly Distribution Report dated 26-Jun-00
SOUNDVIEW HOME EQUITY LOAN
ASSET BACKED SECURITIES
SERIES 2000-1
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: 6/26/2000
Beginning Ending
Certificate Certificate
Class Cusip Balance(1) PrincipalInterest Losses Balance
A-1F 83611PAD3 148,081,0001,491,4691,066,183. $0.00 $146,589,530.73
A-1V 83611PAE1 43,601,000.439,148.5210,473.23 $0.00 $43,161,851.48
M-1 83611PAF8 11,409,000. 0.00 82,144.80 $0.00 $11,409,000.00
M-2 83611PAG6 9,127,000.0 0.00 65,714.40 $0.00 $9,127,000.00
B 83611PAH4 6,275,000.0 0.00 45,180.00 $0.00 $6,275,000.00
BB * NA 7,250,000.0171,000.4 48,333.33 $0.00 $7,078,999.54
X 0.00 0.00 0.00 $0.00 $0.00
Total 218,493,0002,101,6181,518,028. 0.00216,562,382.21
AMOUNTS PER $1,000 UNIT
Ending Current
Certificate Pass-Through
Class Principal Interest Total Balance Losses Interest Rate
A-1F 10.0719827 7.2000000017.271982989.928017 0.00000000 8.64000%
A-1V 10.0719827 4.8272569414.899239989.928017 0.00000000 6.95125%
M-1 0.00000000 7.200000007.20000001000.00000 0.00000000 8.64000%
M-2 0.00000000 7.200000007.20000001000.00000 0.00000000 8.64000%
B 0.00000000 7.200000007.20000001000.00000 0.00000000 8.64000%
BB 23.5862703 6.6666662130.252936976.413729 0.00000000 8.00000%
Distribution Date: 26-Jun-00
Distribution Statement
Pooling and Servicing Agreement Dated May 1, 2000
i) Distributions to the Holders See Page 1
ii) Class Interest Carryover Shortfall information See Page 1
iii) Overcollateralization Amount (before distr$9,698,383.37
Overcollateralization Amount (after distri$9,698,133.79
Required Overcollateralization Amount $9,698,133.79
Group 1 Group 2
iv) Amount of Excess Interest paid as $0.00 $0.00
v) Servicing Fees Servicing Fees $84,606.50$18,167.00
Special Servicing Fe $0.00 $0.00
PMI Provider Fees ($76,912.7($18,167.00)
vi) Advances
vii) Begining Pool Principal Balanc$184,590,5$43,600,795.52
Ending Pool Principal Balance $183,008,9$43,251,601.58
Ending Loan Count 469
viii) Weighted average of the remain 336
Weighted average Mortage Rate 9.913% 9.760%
ix) Delinquency And Foreclosure Information:
Group 1 All Categories
Number Balance
Current 0 $0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
Bankruptcy
Number Balance
Current 0 $0.00 0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
Foreclosure
Number Balance
Current 0 $0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
Group 2 All Categories
Current 0 $0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
Bankruptcy
Current 0 $0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
Foreclosure
Current 0 $0.00
30 days Delinquent: 0 $0.00
60 days delinquent: 0 $0.00
90 days delinquent: 0 $0.00
120+ days delinquent: 0 $0.00
x) Loans that became REO properties in the preceding calendar month:
Unpaid Scheduled
Loan NumbePrincipal BPrincipalBook Value
-
xi) Total Book Value of R $0.00
xii) Principal Prepayments made dur$1,721,449.72
xiii) Aggregate Realized Losses incu $0.00
Cumulative Realized Losses $0.00
xiv) Extraordinary Trust Fund Expen $0.00
xv) Class Principal Balance of Offered Certificates See Page 1
xvi) LIBOR Carryover Fund
Beginning Balance $1,000.00
LIBOR Carryover Fund Deposit $4,000.00
LIBOR Carryover distributed to $0.00
LIBOR Carryover owed to Class $0.00
Ending Balance $5,000.00
xviii) Prepayment Interest Shortfall and Class Carryover Shortfall
Class Carryover
PPIS Shortfall
A-1F $0.00 $0.00
A-1V $0.00 $0.00
M-1 $0.00 $0.00
M-2 $0.00 $0.00
B $0.00 $0.00
X $0.00 $0.00
TOTAL $0.00 $0.00
xix) Trustee Fees $1,345.97 $317.92
xxi) Delinquency Event Occurrence NO
Cumulative Loss Event OccurrenNO
xxii) Group 1 Available Funds $3,054,356.22
Group 2 Available Funds $692,873.61
xxiii) Offered Certificates Pass-Through Rates See Page 1
xxv) Loans Purchased by thDocument support
xxvi) Current Period Prepayment Pena$23,081.28
Aggregate Prepayment Penalties$23,081.28
xxvii) Libor Information Original Current PeNext Period
Class A-1V 6.95125% 6.95125% 6.96125%
LIBOR 6.64125% 6.61000% 6.65125%
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 thereunto duly authorized.
FINANCIAL ASSET SECURITIES CORP.
By: /s/ James Raezer
Name: James Raezer
Title: Vice President
Dated: 6/30/2000
