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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: 26-Jun-00
NEW CENTURY MORTGAGE SECURITIES, INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF MARCH 1, 2000, PROVIDING FOR THE ISSUANCE OF
ASSET BACKED PASS-THROUGH CERTIFICATES,
SERIES 2000-NC1)
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: (949) 863-7243
Item 5. Other Events
On 26-Jun-00 a 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
26-Jun-00 The 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 Distrib Rep dated: 26-Jun-00
NEW CENTURY MORTGAGE SECURITIES, INC.
NEW CENTURY ASSET BACKED PASS-THROUGH CERTIFICATES
SERIES 2000-NC1
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: 06/26/00
Class Cusip
A 64352VBQ3
M-1 64352VBR1
M-2 64352VBS9
M-3 64352VBT7
IO N/A
CE N/A
P N/A
R-V N/A
Total
Beginning
Certificate
Class Bal(1)
A 330,311,993.32
M-1 33,300,000.00
M-2 27,929,000.00
M-3 19,336,000.00
IO 212,421,032.46
CE 13,965,071.59
P 100.00
R-V 0.00
Total 424,842,164.91
Class Prin
A 3,732,137.44
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE 0.00
P 0.00
R-V 0.00
Total 3,732,137.44
Class Int
A 2,020,041.35
M-1 209,272.00
M-2 185,696.82
M-3 149,703.61
IO 0.00
CE 871,819.30
P 80,485.25
R-V 0.00
Total 3,517,018.33
Class Losses
A 0.00
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE 0.00
P 0.00
R-V 0.00
Total 0.00
Ending
Certificate
Class Bal
A 326,579,855.88
M-1 33,300,000.00
M-2 27,929,000.00
M-3 19,336,000.00
IO 210,554,963.74
CE 13,965,071.59
P 100.00
R-V 0.00
Total 421,110,027.47
AMOUNTS PER $1,000 UNIT
Class Prin
A 11.135723
M-1 0.000000
M-2 0.000000
M-3 0.000000
IO 0.000000
CE 0.000000
P 0.000000
Class Int
A 6.027275
M-1 6.284444
M-2 6.648889
M-3 7.742222
IO 0.000000
CE 62.428559
P 804852.500000
Class Total
A 17.16300
M-1 6.28444
M-2 6.64889
M-3 7.74222
IO 0.00000
CE 62.42856
P 804852.50000
Ending
Certificate
Class Bal
A 974.428930
M-1 1000.000000
M-2 1000.000000
M-3 1000.000000
IO 980.054593
CE 1000.000000
P 1000.000000
Class Losses
A 0.000000
M-1 0.000000
M-2 0.000000
M-3 0.000000
IO 0.000000
CE 0.000000
P 0.000000
Current
Pass-Through
Class Int Rate
A 6.88000%
M-1 7.07000%
M-2 7.48000%
M-3 8.71000%
IO 0.00000%
CE 2.49552%
P NA
Section 4.02 (iii.)
MAS SERV COMP 177,017.39
ADMIN FEES 2,478.25
Section 4.02 (iv.)
P&I ADVANCES
Total Advances 404,164.75
*Note: P&I Advs are made on Mortgage Loans Delinquent
as of the Determiniation Date.
Section 4.02 (v.)
BALANCES AS OF: 26-Jun-00
Stated Prin Bal of Mort Loans 421,110,027.47
Stated Prin Bal of REO Props 0.00
Section 4.02 (vi.)
MORTGAGE LOAN CHARACTERISTICS
Beginning
# of Loans 3,504
Agg Prin Bal @ Due Date 424,842,164.91
Ending
# of Loans 3,479
Agg Prin Bal @ Due Date 421,110,027.47
W/A Rem Term to Mat 354
Beg W/A Mor Rate 10.24676%
Num of Sub Loans 0.00
Bal of Sub Loans 0.00
Section 4.02 (vii.)
DELINQ INFO Number
30-59 days delinq 80
60-89 days delinq 11
90+ days delinq 1
Foreclosures 47
Bankruptcies 11
Section 4.02 (vii.) Unpaid Prin
DELINQ INFO Balance
30-59 days delinq 10,156,512.99
60-89 days delinq 1,095,936.84
90+ days delinq 58,477.04
Foreclosures 5,306,403.62
Bankruptcies 1,081,598.45
Section 4.02 (vii.) Stated Prin
DELINQ INFO Balance
30-59 days delinq 10,145,931.57
60-89 days delinq 1,094,512.85
90+ days delinq 58,441.60
Foreclosures 5,300,322.80
Bankruptcies 1,081,028.47
*Note: In accordance with the Master Servicer, the Delinquency
Information relates to the Prepayment Period.
Section 4.02 (viii.)
REO INFORMATION
Loans that became REO properties in the preceding calendar month:
Unpd Prin Std Prin
Loan # Bal Bal
Section 4.02 (ix.)
REO BOOK VALUES
Tot Bk Val of REO Props: 0.00
Section 4.02 (x.)
PRINCIPAL PREPAYMENTS
Aggregate Amount of Prin Prepays
Curtails 41,993.05
Payments in Full 3,379,592.30
Liq Proceeds 102,563.51
3,524,148.86
Prepay Charges 80,485.25
REO Prin Amor 0.00
Section 4.02 (xi.)
REALIZED LOSSES
Real Losses incurred during related Prepay Period
Tot Real Losses 11,683.19
Which Include:
Bankruptcy Losses 0.00
Cum Real Losses 11,683.19
(1) As of reporting period, the servicer has not yet
determined the loss classification.
Section 4.02 (xii.)
EXTRAORDINARY TRUST FUND EXPENSES
Extraordinary Trust Fund Expenses withdrawn from the Collection
Account or Distribution Account that caused a reduction of the
Avail Distrib Amt: 0.00
Section 4.02 (xiv.)
CERTIFICATE FACTOR
Cert
Factor
Class A 0.97442893
Class M-1 1.00000000
Class M-2 1.00000000
Class M-3 1.00000000
Class IO 0.98005459
Class CE 0.98005459
Section 4.02 (xv.)
INTEREST DISTRIBUTION AMOUNTS
Reduction from the Allocation of:
Interest
Distribution
Amount
A 2,020,041.35
M-1 209,272.00
M-2 185,696.82
M-3 149,703.61
IO 0.00
CE 871,819.30
TOTAL 3,436,533.08
Int
Carry
Fwd
Amt
A 0.00
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE NA
TOTAL 0.00
Real
Losses
A 0.00
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE 11,683.19
TOTAL 11,683.19
Prepay
Int
Shorts
A 0.00
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE 0.00
TOTAL 0.00
Rel Act
Int
Shorts
A 0.00
M-1 0.00
M-2 0.00
M-3 0.00
IO 0.00
CE 0.00
TOTAL 0.00
Section 4.02 (xvii.)
PREPAYMENT INTEREST
SHORTFALLS
Prepay Int Shorts not cov by Serv: 0.00
Section 4.02 (xviii.)
Rel Act Int Short 0.00
Section 4.02 (xix.)
Req Overcoll Amt 13,965,071.59
Credit Enhan Percent 22.44783%
Section 4.02 (xx.)
Overcoll Inc Amt 0.00
Section 4.02 (xxi.)
Overcoll Red Amt 0.00
Section 4.02 (xxi.)
PASS THRU RATE See page 2
Section 4.02 (xxii.)
Loss Severity Percent 10.23%
Section 4.02 (xxiii.)
Agg Loss Sev Percent 10.23%
PERFORMANCE MEASURES
Net Mo Exc CF 883,502.49
Delinq Percent 1.78915%
Stepdown Date Occur NO
Trigger Event Occur NO
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 MORTGAGE
SECURITIES, INC.
By: /s/ Eve Kaplan
Name: Eve Kaplan
Title: Vice President
U.S. Bank National Association
Dated: 6/30/00
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