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Exhibit 10.9
SALOMON BROTHERS REALTY CORP.
390 Greenwich Street
New York, New York 10013
November 9, 2000
New Century Mortgage Corporation/NC Capital Corporation
18400 Von Karman
Irvine, California 92612
Ladies and Gentlemen:
Reference is made to the Letter Agreement, dated April 1, 2000 (the
"Letter Agreement"),among New Century Mortgage Corporation ("New Century"), NC
Capital Corporation ("NC Capital"), Salomon Brothers Realty Corp. ("SBRC") and
Salomon Smith Barney ("Salomon"), pursuant to which SBRC and Salomon have made
available to NC Capital an aggregation line with a limit of $1,000,000,000 in
amount of mortgage loans. SBRC and Salomon hereby acknowledge that the amount of
mortgage loans delivered to the aggregation line through October 2000 exceeds
the limit set forth in the Letter Agreement. Notwithstanding the provisions of
Section 4(c) of the Letter Agreement, the undersigned hereby agrees to extend
the terms of the Letter Agreement until December 31, 2000.
SALOMON BROTHERS REALTY CORP.
By: /s/ Illegible
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Name:
Title:
SALOMON SMITH BARNEY INC.
By:/s/ Illegible
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Name:
Title:
Agreed and acknowledged:
NEW CENTURY MORTGAGE CORPORATION
By:/s/ Patrick Flanagan
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Name:
Title: EVP/COO
NC CAPITAL CORPORATION
By:/s/ Patrick Flanagan
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Name:
Title: President
