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 earliest event reported: 25-Apr-00
NEW CENTURY MORTGAGE SECURITIES, INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF DECEMBER 1, 1999, PROVIDING FOR THE ISSUANCE OF
ASSET BACKED PASS-THROUGH CERTIFICATES,
SERIES 1999-NCD)
New Century Mortgage Securities, Inc.
(Exact name of registrant as specified in its charter)
Delaware 333-76805
(State or Other (Commission
Jurisdiction of File Number)
Incorporation)
33-0852169
(I.R.S. Employer
Identification
Number)
18400 Von Karman
Irvine, California 92612
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: 949-863-7243
Item 5. Other Events
On 25-Apr-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
25-Apr-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
NEW CENTURY HOME EQUITY LOAN TRUST
ASSET BACKED PASS-THROUGH CERTIFICATES
SERIES 1999-NCD
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: 4/25/00
Beg
Cert
Class Cusip Bal(1) Prin
A-1 64352VBP5 212,818,574.20 2,064,700.95
Total 212,818,574.20 2,064,700.95
End
Cert
Class Int Losses Bal
A-1 1,323,022.14NA 210,753,873.25
Total 1,323,022.14 $0.00 210,753,873.25
AMOUNTS PER $1,000 UNIT
Class Principal Interest Total
A-1 9.48938758 6.08062386 15.57001144
End Cur Pass-
Cert Through
Class Bal Losses Int Rate
A-1 968.62704868NA 7.46000%
Distribution Date: 4/25/00
Distribution Statement
Pooling and Servicing Agreement Dated December 1, 1999
a) Beginning Pool Principal Balance 216,417,198.29
Ending Pool Principal Balance 214,767,020.72
b) Interest from Purchased Loans 0.00
Principal from Purchased Loans 0.00
Substitution Shortfall Amount 0.00
c) Basic Prin Extra Prin
Class Distrib Distrib
A-1 1,650,177.57 414,523.38
d) Avail Funds Shortfall 0.00
Insured Distrib Amt - Prin 0.00
Insured Distrib Amt - Int 1,323,022.14
Insured Payment 0.00
Reimbursement Amount 0.00
e) Overcollateralization Amt 4,013,147.47
Overcollateralization Target Amt 9,129,698.04
Overcollateralization Release Amt 0.00
f) Servicing Fee 90,173.83
Administration Fee 2,434.69
Insurer Premium 39,016.74
g) W/A Rate Cap 9.40670%
Realized Losses 0.00
Cum Realized Losses 0.00
Max Collateral Amt 219,992,723.95
Realized Loss Percentage 0.00000%
Cumulative Num of liq'd Loans 0
Cumulative Bal of liq'd Loans 0.00
Beg End
h) W/A rem terms Mor Loans 325 324
W/A Mor Rate Mor Loans 10.13654% 10.13013%
Number Mor Loans out 2,459
i) Delinq Advs cur per by Master Serv 162,638.09
Serv Advs cur per by MS 0.00
Agg Out Delinq Advs by MS 0.00 *
Agg Nonrec Delinq Advs by MS 0.00
Prepay Int Shortfalls adv'd by MS 7,951.67
*As of current distrib date info was not available from servicer
j) Prin Distrib Amt 2,064,700.95
Int Distrib Amt 1,323,022.14
k) Has a Stepdown Trigger Event Occurred? NO
Has a Stepup Trigger Event Occurred? NO
l) Pre-Funding Account:
Beg Bal 0.00
W/D to purch Subsequent Loans 0.00
W/D to Certs as prin 0.00
End Bal 0.00
m) Capitalized Interest Account:
Beg Bal 0.00
W/D for Capitalized Int Req 0.00
W/D at termin of Pre-Funding Per 0.00
End Bal 0.00
n) Prepay Penalties: 41,069.83
Scheduled Principal 174,458.80
Full and Partial Prepayments 1,475,718.77
Liquidation Proceeds 0.00
1,650,177.57
o) Orig Cut-off date Loan Bal of modified/extended Loans:
Loan Num Original Bal
p) Residual Class Total Distrib 0.00
q) Performance Measures used in above tests:
Rolling Delinquency Percentage 0.52%
Cumulative Loss Percentage 0.00%
Annual Loss Percentage 0.00%
r) Delinquency And Foreclosure Info:
# of Accounts Prin Bal
30-59 Days Delinq 25 1,844,934.59
60-89 Days Delinq 16 1,796,482.96
90+ Days Delinq 12 683,615.65
Aggregate 53 4,325,033.20
% of Total
30-59 Days Delinq 0.859%
60-89 Days Delinq 0.836%
90+ Days Delinq 0.318%
Aggregate 2.014%
The above stats include Mortgage Loans in foreclosure and bankruptcy
but exclude REO Properties
# of Accounts Prin Bal
Loans in foreclosure 15 1,081,979.48
Loans in bankruptcy 9 1,013,684.06
REO Properties 0 0.00
% of Total
Loans in foreclosure 0.504%
Loans in bankruptcy 0.472%
REO Properties 0.000%
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.
NEW CENTURY HOME EQUITY
LOAN TRUST
By: /s/ Eve Kaplan
Name: Eve Kaplan
Title: Vice President
U.S. Bank National Association
Dated: 4/30/00
