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) 25-Feb-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 33-0852169
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) 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-Feb-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-Feb-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 SecuritiesNONE
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: 2/25/00
Beginning Ending
Certificate Certificate
Class Cusip Balance(1)PrincipalInterest Losses Balance
A-1 64352VBP5 ##########1,131,2071,338,551.6NA 214,185,416.32
Total ##########1,131,2071,338,551.6 $0.00 214,185,416.32
AMOUNTS PER $1,000 UNIT
Ending Current
Certificate Pass-Through
Class Principal Interest Total Balance Losses Interest Rate
A-1 5.199043436.1519977911.351041984.3984572NA 7.46000%
Distribution Date: 2/25/00
Distribution Statement
Pooling and Servicing Agreement Dated December 1, 1999
a) Beginning Pool Principal Balance 218,155,543.44
Ending Pool Principal Balance 217,399,635.26
b) Interest from Purchased Loans 0.00
Principal from Purchased Loans 0.00
Substitution Shortfall Amount 0.00
c) Basic Principal Extra Principal
Class Distribution Distribution
A-1 755,908.18 375,299.69
d) Available Funds Shortfall 0.00
Insured Distribution Amount - Principal 0.00
Insured Distribution Amount - Interest 1,338,551.68
Insured Payment 0.00
Reimbursement Amount 0.00
e) Overcollateralization Amount 3,214,218.94
Overcollateralization Target Amount 9,129,698.04
Overcollateralization Release Amount 0.00
f) Servicing Fee 90,898.14
Administration Fee 2,454.25
Insurer Premium 39,474.71
g) Weighted Average Rate Cap 9.41169%
Realized Losses 0.00
Cumulative Realized Losses 0.00
Maximum Collateral Amount 219,992,723.95
Realized Loss Percentage 0.00000%
Cumulative Number of liquidated Loans 0
Cumulative Balance of liquidated Loans 0.00
Beginning Ending
h) weighted average of the remaining terms of t 327 326
weighted average Mortgage Rate of the Mort 10.14232% 10.14001%
number of the Mortgage Loans outstanding 2,488
i) Delinquency Advances for the current period 85,460.87
Servicing Advances for the current period m 0.00
Aggregate Outstanding Delinquency Advances 0.00 *
Aggregate Nonrecoverable Delinquency Advanc 0.00
Prepayment Interest Shortfalls advanced by 1,896.34
*As of current distribution date information was not available from servicer
j) Principal Distribution Amount 1,131,207.87
Interest Distribution Amount 1,338,551.68
k) Has a Stepdown Trigger Event Occurred? NO
Has a Stepup Trigger Event Occurred? NO
l) Pre-Funding Account
Beginning Balance 0.00
Withdrawal to purchase Subsequent Loans 0.00
Withdrawal to Certificates as principal 0.00
Ending Balance 0.00
m) Capitalized Interest Account
Beginning Balance 0.00
Withdrawal for Capitalized Interest Requ 0.00
Withdrawal at termination of Pre-Funding 0.00
Ending Balance 0.00
n) Prepayment Penalties 2,841.78
Scheduled Principal 172,019.45
Full and Partial Prepayments 583,888.73
Liquidation Proceeds 0.00
755,908.18
Loan NumberOriginal Balance
o) Original Cut-off date Loan Balance of modified or extended Loans
p) Residual Class Total Distribution 0.00
q) Performance Measures used in above tests:
Rolling Delinquency Percentage 0.01%
Cumulative Loss Percentage 0.00%
Annual Loss Percentage 0.00%
r) Delinquency And Foreclos# of AccoPrincipal B% of Total
30-59 Days Delinquen 29 2,334,317.3 1.07%
60-89 Days Delinquen 1 57,895.84 0.03%
90 or more Days Deli 0 0.00 0.00%
Aggregate 30 2,392,213.2 1.10%
The above statistics include Mortgage Loans in foreclosure and bankruptcy
but exclude REO Properties
# of AccoPrincipal B% of Total
Loans in foreclosure 0 0.00 0.00%
Loans in bankruptcy 6 607,265.09 0.28%
REO Properties 0 0.00 0.00%
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: 2/29/00
