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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): October 26, 1999
NEW CENTURY MORTGAGE SECURITIES, INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING
AGREEMENT, DATED AS OF OCTOBER 1, 1999, PROVIDING
FOR THE ISSUANCE OF ASSET BACKED PASS-THROUGH
CERTIFICATES, SERIES 1999-NCC)
New Century Mortgage Securities, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 333-76805 33-0852169
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
18400 Von Karman
Irvine, California 92612
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (949) 863-7243
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Item 5. Other Events
Description of the Certificates and the Mortgage Pool
As of the date hereof, New Century Mortgage Securities, Inc. (the
"Registrant") has caused to be filed with the Securities and Exchange Commission
(the "Commission") pursuant to the Commission's Rule 424 a Prospectus Supplement
to its Prospectus, dated September 10, 1999, in connection with the Registrant's
issuance of a series of certificates, entitled New Century Home Equity Loan
Trust, Series 1999-NCC, Asset Backed Pass-Through Certificates (the
"Certificates"), to be issued pursuant to a pooling and servicing agreement,
dated as of October 1, 1999, among the Registrant as depositor, Litton Loan
Servicing LP as servicer and U.S. Bank National Association. The Certificates
designated as the Series 1999-NCC Certificates will represent in the aggregate
the entire beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a segregated pool (the "Mortgage Pool") of conventional,
one- to four-family, adjustable-rate first lien mortgage loans having original
terms to maturity up to 30 years (the "Mortgage Loans").
Computational Materials
Deutsche Bank Securities Inc. (the "Underwriter") has advised the
Registrant that it has furnished to certain prospective purchasers of
Certificates certain materials, herein referred to as "Computational Materials,"
in written form, which Computational Materials are in the nature of data tables
and term sheet information relating to the Mortgage Loans or other assets of the
Trust Fund, the structure of the Certificates and terms of certain classes of
Certificates, and the hypothetical characteristics and hypothetical performance
of certain classes of Certificates under certain assumptions and scenarios.
The Computational Materials have been provided by the Underwriter. The
information in the Computational Materials is preliminary and will be superseded
by the Prospectus Supplement relating to the Certificates and by any other
information subsequently filed with the Commission.
The Computational Materials were prepared by the Underwriter at the
request of certain prospective investors. The Computational Materials may be
based on information that differs from the information set forth in the
Prospectus Supplement.
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Item 7. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
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99.1 Computational Materials (as defined in Item 5) that have been
provided by Deutsche Bank Securities Inc. to certain
prospective purchasers of New Century Home Equity Loan
Trust, Series 1999-NCC, Asset Backed Pass-Through
Certificates, Series 1999-NCC.
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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.
Dated: October 26, 1999
NEW CENTURY MORTGAGE
SECURITIES, INC.
By: /s/ Patrick J. Flanagan
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Name: Patrick J. Flanagan
Title: President
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Index to Exhibits
Sequentially
Exhibit No. Description Numbered Page
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99.1 Computational Materials (as defined in Item 5) P
that have been provided by Deutsche Bank
Securities Inc. to certain prospective purchasers
of New Century Home Equity Loan Trust, Series
1999-NCC, Asset Backed Pass-Through
Certificates.
