8-K 1 0001.txt 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: 25-May-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 25-May-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 25-May-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: 25-May-00 NEW CENTURY MORTGAGE SECURITIES, INC. NEW CENTURY ASSET BACKED PASS-THROUGH CERTIFICATES SERIES 2000-NC1 STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 05/25/00 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 333,694,962.73 M-1 33,300,000.00 M-2 27,929,000.00 M-3 19,336,000.00 IO 214,112,517.16 CE 13,965,071.59 P 100.00 R-V 0.00 Total 428,225,134.32 Class Prin A 3,382,969.41 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 3,382,969.41 Class Int A 1,783,877.65 M-1 183,288.75 M-2 163,268.28 M-3 132,854.43 IO 0.00 CE 1,214,014.56 P 48,360.59 R-V 0.00 Total 3,525,664.26 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 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 AMOUNTS PER $1,000 UNIT Class Prin A 10.093896 M-1 0.000000 M-2 0.000000 M-3 0.000000 IO 0.000000 CE 0.000000 P 0.000000 Class Int A 5.322625 M-1 5.504167 M-2 5.845833 M-3 6.870833 IO 0.000000 CE 86.932212 P 483605.900000 Class Total A 15.41652 M-1 5.50417 M-2 5.84583 M-3 6.87083 IO 0.00000 CE 86.93221 P 483605.90000 Ending Certificate Class Bal A 985.564653 M-1 1000.000000 M-2 1000.000000 M-3 1000.000000 IO 988.740444 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 6.41500% M-1 6.60500% M-2 7.01500% M-3 8.24500% IO 0.00000% CE 3.40199% P NA Section 4.02 (iii.) MAS SERV COMP 178,427.22 ADMIN FEES 2,497.98 Section 4.02 (iv.) P&I ADVANCES Total Advances 218,435.10 *Note: P&I Advs are made on Mortgage Loans Delinquent as of the Determiniation Date. Section 4.02 (v.) BALANCES AS OF: 25-May-00 Stated Prin Bal of Mort Loans 424,842,164.91 Stated Prin Bal of REO Props 0.00 Section 4.02 (vi.) MORTGAGE LOAN CHARACTERISTICS Beginning # of Loans 3,524 Agg Prin Bal @ Due Date 428,225,134.32 Ending # of Loans 3,504 Agg Prin Bal @ Due Date 424,842,164.91 W/A Rem Term to Mat 355 Beg W/A Mor Rate 10.25132% Num of Sub Loans 0.00 Bal of Sub Loans 0.00 Section 4.02 (vii.) DELINQ INFO Number 30-59 days delinq 53 60-89 days delinq 7 90+ days delinq 0 Foreclosures 22 Bankruptcies 10 Section 4.02 (vii.) Unpaid Prin DELINQ INFO Balance 30-59 days delinq 5,575,211.32 60-89 days delinq 986,276.99 90+ days delinq 0.00 Foreclosures 2,160,462.18 Bankruptcies 1,032,391.86 Section 4.02 (vii.) Stated Prin DELINQ INFO Balance 30-59 days delinq 5,570,708.28 60-89 days delinq 985,480.32 90+ days delinq 0.00 Foreclosures 2,158,921.53 Bankruptcies 1,031,956.04 *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 55,780.67 Payments in Full 3,131,633.74 Liq Proceeds 0.00 3,187,414.41 Prepay Charges 48,360.59 REO Prin Amor 0.00 Section 4.02 (xi.) REALIZED LOSSES Real Losses incurred during related Prepay Period Tot Real Losses 0.00 Which Include: Bankruptcy Losses 0.00 Cum Real Losses 0.00 (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 0.98556465 Class M-1 1.00000000 Class M-2 1.00000000 Class M-3 1.00000000 Class IO 0.98874044 Class CE 0.98874044 Section 4.02 (xv.) INTEREST DISTRIBUTION AMOUNTS Reduction from the Allocation of: Interest Distribution Amount A 1,783,877.65 M-1 183,288.75 M-2 163,268.28 M-3 132,854.43 IO 0.00 CE 1,214,014.56 TOTAL 3,477,303.67 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 0.00 TOTAL 0.00 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 22.25063% 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 0.00% Section 4.02 (xxiii.) Agg Loss Sev Percent 0.00% PERFORMANCE MEASURES Net Mo Exc CF 1,214,014.56 Delinq Percent 0.98304% 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: 5/31/00