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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 (Date of earliest event reported): July 10, 2000
NEW CENTURY MORTGAGE SECURITIES, INC.
(AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
DATED AS OF JUNE 1, 2000, PROVIDING FOR THE ISSUANCE OF
ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES 2000-NCA)
New Century Mortgage Securities, Inc.
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(Exact name of registrant as specified in its charter)
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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
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (949) 863-7243
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Item 2. Acquisition or Disposition of Assets
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Description of the Certificates and the Mortgage Pools
On June 29, 2000, a single series of certificates, entitled
New Century Home Equity Loan Trust, Series 2000-NCA, Asset Backed Pass-Through
Certificates (the "Certificates"), were issued pursuant to a pooling and
servicing agreement, dated as of June 1, 2000 (the "Agreement"), attached hereto
as Exhibit 4.1, among New Century Mortgage Securities, Inc. as depositor (the
"Depositor"), New Century Mortgage Corporation ("New Century") as master
servicer (in such capacity, the "Master Servicer"), Firstar Bank, N.A. as
trustee (the "Trustee") and U.S. Bank National Association as trust
administrator (the "Trust Administrator"). The Certificates consist of two
classes of certificates (collectively, the "Certificates"), designated as the
"Class A Certificates" and the "Class R Certificates." The Certificates evidence
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 lien mortgage loans
having original terms to maturity up to 30 years (the "Mortgage Loans"). The
Mortgage Pool consists of Mortgage Loans having an aggregate principal balance
of $215,327,706 as of June 1, 2000 (the "Cut- off Date"). The Mortgage Loans
were purchased pursuant to the Mortgage Loan Purchase Agreement, dated June 29,
2000 (the "Mortgage Loan Purchase Agreement") among the Depositor, New Century
and NC Capital Corporation. The Class A Certificates were sold by the Depositor
to Greenwich Capital Markets, Inc. (the "Underwriter"), pursuant to an
Underwriting Agreement, dated June 27, 2000 among the Depositor, New Century
Mortgage Corporation and the Underwriter.
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The Certificates have the following initial Certificate
Balances and Pass-Through Rates:
Initial Certificate
Class Principal Balance Pass-Through Rate
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A-1 $87,073,000 8.30%
A-2 $120,395,000 Variable
R 100 % Percentage Interest N/A
The Certificates, other than the R Certificates, and the
Mortgage Loans are more particularly described in the Prospectus, dated
September 10, 1999, and the Prospectus Supplement, dated June 27, 2000, as
previously filed with the Securities and Exchange Commission pursuant to Rule
424(b). The Class R have not been and will not be publicly offered by the
Depositor. Capitalized terms used but not otherwise defined herein shall have
the meanings assigned to them in the Prospectus Supplement.
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Item 7. Financial Statements and Exhibits
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(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
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4.1 Pooling and Servicing Agreement, dated as of June 1,
2000, by and among New Century Mortgage Securities,
Inc. as Depositor, New Century Mortgage Corporation as
Master Servicer, Firstar Bank, N.A. as Trustee and
U.S. Bank National Association as Trust Administrator,
relating to the Series 2000-NCA Certificates.
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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: July 10, 2000
NEW CENTURY MORTGAGE
SECURITIES, INC.
/s/ Patrick Flanagan:
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Name: Patrick Flanagan
Title: President
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Index to Exhibits
Sequentially
Exhibit No. Description Numbered Page
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4.1 Pooling and Servicing Agreement, dated as of 7
June 1, 2000, by and among New Century
Mortgage Securities, Inc. as Depositor, New
Century Mortgage Corporation as Master
Servicer, Firstar Bank, N.A. as Trustee and U.S.
Bank National Association as Trust
Administrator, relating to the Series 2000-NCA
Certificates.
