================================================================================
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): September 27, 1999
NEW CENTURY MORTGAGE SECURITIES, INC.
(as depositor under the Pooling and Servicing Agreement,
dated as of September 1, 1999, providing for the issuance of
Asset Backed Pass-Through Certificates, Series 1999-NCB)
New Century Mortgage Securities, Inc.
-----------------------------------------------------
(Exact name of registrant as specified in its charter)
- --------------------------------------------------------------------------------
Delaware 333-76805 33-0852169
- ---------------------------- ------------ ----------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
18400 Von Karman
Irvine, California 92612
- --------------------------------- ----------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (949) 863-7243
--------------
================================================================================
<PAGE>
-2-
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-NCB, Asset Backed Pass-Through Certificates (the
"Certificates"), to be issued pursuant to a pooling and servicing agreement,
dated as of September 1, 1999, among the Registrant as depositor, New Century
Mortgage Corporation as master servicer, Firstar Bank Milawukee, N.A. as trustee
and U.S. Bank National Association as trust administrator. The Certificates
designated as the Series 1999-NCB 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, fixed-rate first and second lien mortgage loans having
original terms to maturity up to 30 years (the "Mortgage Loans").
Computational Materials
PaineWebber Incorporated and Greenwich Capital Markets, Inc. (the
"Underwriters") 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 Underwriters. 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 Underwriters 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.
<PAGE>
-3-
Item 7. Financial Statements and Exhibits
---------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
----------- -----------
99.1 Computational Materials (as defined in Item 5)
that have been provided by PaineWebber
Incorporated and Greenwich Capital Markets, Inc.
to certain prospective purchasers of New Century
Home Equity Loan Trust, Series 1999-NCB, Asset
Backed Pass-Through Certificates, Series 1999-NCB.
<PAGE>
-4-
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: September 27, 1999
NEW CENTURY MORTGAGE
SECURITIES, INC.
By: /s/ Patrick J. Flanagan
-------------------------------
Name: Patrick J. Flanagan
Title: President
<PAGE>
Index to Exhibits
-----------------
Sequentially
Exhibit No. Description Numbered Page
- ----------- ----------- -------------
99.1 Computational Materials (as defined in Item 5) P
that have been provided by PaineWebber Incorporated
and Greenwich Capital Markets, Inc. to certain
prospective purchasers of New Century Home Equity
Loan Trust, Series 1999-NCB, Asset Backed
Pass-Through Certificates.
