PROSPECTUS SUPPLEMENT
to Prospectus Supplement dated October 22, 1999 (to Prospectus dated September
10, 1999)
$185,965,000 (APPROXIMATE)
NEW CENTURY HOME EQUITY LOAN TRUST, SERIES 1999-NCC
ASSET BACKED PASS-THROUGH CERTIFICATES
NEW CENTURY MORTGAGE SECURITIES, INC.
DEPOSITOR
LITTON LOAN SERVICING LP
SERVICER
Notwithstanding the definition of Stepdown Date appearing on page S-59, the
definition of Stepdown Date is as follows:
STEPDOWN DATE: The Stepdown Date is the earlier to occur of:
(i) the later to occur of:
o the distribution date occurring in November 2002 and
o the first distribution date on which the Credit Enhancement
Percentage, calculated for this purpose only after taking into
account distributions of principal on the mortgage loans, but
prior to any distribution of the Principal Distribution Amount to
the holders of the certificates then entitled to distributions of
principal on the distribution date, is greater than or equal to
approximately 44.65%;
and
(ii) the first distribution date on which the Certificate Principal Balance
of the Class A Certificates has been reduced to zero.
DEUTSCHE BANC ALEX. BROWN
The date of this Prospectus Supplement is October 28, 1999.
