-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DEQ96lwNLLy6F2ug7EY2xxJdbUhpifVfLBJvT+Sk/26w2n6rDa18aS4kY1Krx9TX 7hlmhdYJrYowndwIT+vIIg== 0001019965-00-000107.txt : 20000403 0001019965-00-000107.hdr.sgml : 20000403 ACCESSION NUMBER: 0001019965-00-000107 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL ASSET SECURITIES CORP CENTRAL INDEX KEY: 0001003197 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 061442101 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: SEC FILE NUMBER: 033-99018 FILM NUMBER: 591755 BUSINESS ADDRESS: STREET 1: 600 STEAMBOAT ROAD CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 2036222700 MAIL ADDRESS: STREET 1: 600 STEAMBOAT RD CITY: GREENWICH STATE: CT ZIP: 06830 10-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Mark One) [ x ] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended DECEMBER 31, 1999 _______________________________ or [ ] Transition Report Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934 For the transition period from _____________ to ________ Commission file Number 333-84929 Financial Asset Securities Corp. (Exact name of registrant as specified in its charter) Delaware 06-1442101 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 600 Steamboat Road Greenwich, Connecticut 06830 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (203) 625-2700 Securities registered pursuant to Section 12(b) of the Act NONE Securities registered pursuant to Section 12(g) of the Act Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes No PART I Item 2. Properties Not applicable on reliance of Relief Letters Item 3. Legal Proceedings There were no legal proceedings. Item 4. Submission of Matters to a Vote of Security Holders There were no matters submitted to a vote of the Security Holders. PART II Item 5. Market for Registrant's Common Equity and Related Stockholder matters There were 24 participants in the DTC system holding positions in the Cede certificates. The following were Noteholders and Certificateholders of record as of the end of the reporting year. New Century Home Equity Loan Trust, Asset-Backed Pass-Through Certificates: Series 1999-NCA Class A-1 Cede & Co. Series 1999-NCA Class A-2 Cede & Co. Series 1999-NCA Class A-3 Cede & Co. Series 1999-NCA Class A-4 Cede & Co. Series 1999-NCA Class A-5 Cede & Co. Series 1999-NCA Class A-6 Cede & Co. Series 1999-NCA Class A-7 Cede & Co. Series 1999-NCA Class A-8IO Cede & Co. There is no established public trading market for the notes. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures: Information required by Item 304 of Reg. S-K. There were no changes in and/or disagreements with Accountants on Accounting and Financial Disclosures. PART IV Item 12. Security Ownership of Certain Beneficial Owners and Management The Notes are represented by one or more notes registered in the name of of Cede & Co., the nominee of The Depository Trust Company. An investor holding Notes is not entitled to receive a certificate representing such Note, except in limited circumstances. Accordingly, Cede & Co. is the sole holder of Notes, which it holds on behalf of brokers, dealers, banks and other participants in the DTC system. Such participants may hold Notes for their own accounts or for the accounts of their customers. The address of Cede & Co. is: Cede & Co. c/o The Depository Trust Company Seven Hanover Square New York, New York 10004 Item 13. Certain Relationships and Related Transactions. There has not been, and there is not currently proposed, any transactions or series or transactions, to which any of the Trust, the Registrant, the Trustee or the Servicer is a party with any Noteholder who, to the knowledge of the Registrant and Servicer, owns of record or beneficially more than five percent of the Notes. Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K (a) 1. Not Applicable 2. Not Applicable 3. Exhibits 99.1 Annual Summary Statement 99.2 Annual Statement as to Compliance. 99.3 Annual Independent Public Accountant's Servicing Report. (b) Reports on Form 8-K The Registrant has filed Current Reports on Form 8-K with the Securities and Exchange Commision dated July 31, 1999; August 31, 1999; September 30, 1999; October 31, 1999; November 30, 1999; December 31, 1999 (c) See (a) 3 above (d) Not Applicable SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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 /s/ Eve Kaplan Vice President U.S. Bank National Association Date March 28, 2000 EXHIBIT INDEX Exhibit Number Description 99.1 Annual Summary Statement 99.2 Annual Statement of Compliance 99.3 Report of Independent Accountants EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year Amounts for the period ending December 31, 1999 New Century Home Equity Loan Trust Asset-Backed Pass-Through Certificates, SERIES 1999-NCA Summary of Aggregate Amounts or End of Year Amounts Pool Balance 307482687.8 Principal Collections 17451753.85 Realized Loss 11696.72 Interest Collections 18644741.15 Servicer Fees 768591.95 Trustee Fees 15212.01 Insurer Premium 283895.9102 Rolling Delinquency Percentage 0.0255624 Delinquency Report Number Stated Principal Bal 30-59 days 62 4251459.71 60-89 days 26 2719287.11 90+ days 72 6975048.75 Foreclosures 68 6797398.90 Bankruptcies 24 1866659.11 REO Properties 3 218179.21 Certificate Balance Interest Principal Class A-1 79593070.02 2555269.56 16406929.98 Class A-2 49991804.47 1669771.88 8195.53 Class A-3 44992624.02 1520792.25 7375.98 Class A-4 49991804.47 1804753.43 8195.53 Class A-5 22262350.36 840426.70 3649.64 Class A-6 22996230.05 817538.30 3769.95 Class A-7 36558871.50 1384606.60 2175128.50 Class A-8IO 24996230.05 241845.55 0.00 EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance To be supplied upon receipt by the Trustee EXHIBIT 99.3 -- Report of Independent Auditors To be supplied upon receipt by the Trustee -----END PRIVACY-ENHANCED MESSAGE-----