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New Century Mort Sec Inc Home Equity Loan Trust Ser 1999 NCD · 8-K · For 12/17/99

Filed On 12/28/99   ·   Accession Number 882377-99-649   ·   SEC File 333-76805-03

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  As Of                Filer                Filing    For/On/As Docs:Size              Issuer               Agent

12/28/99  New Century Mort Sec In..1999 NCD 8-K:2,7    12/17/99    2:610K                                   Thacher Proffitt..LLP/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         New Century Mortgage Securities, Inc.                  6     14K 
 2: EX-4.1      Pooling and Servicing Agreement                      236    781K 


8-K   —   New Century Mortgage Securities, Inc.
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
2Item 2. Acquisition or Disposition of Assets
4Item 7. Financial Statements and Exhibits
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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): December 17, 1999 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 Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification Number) 18400 Von Karman Irvine, California 92612 ------------------ ----- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (949) 863-7243 -------------- ================================================================================
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-2- Item 2. Acquisition or Disposition of Assets ------------------------------------ Description of the Certificates and the Mortgage Pools On December 21, 1999, a single series of certificates, entitled New Century Home Equity Loan Trust, Series 1999-NCD, Asset Backed Pass-Through Certificates (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of December 1, 1999 (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 and second 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 $167,057,047 as of December 1, 1999 (the "Cut-off Date"). The Mortgage Loans were purchased pursuant to the Mortgage Loan Purchase Agreement, dated December 17, 1999 (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 December 10, 1999 among the Depositor, New Century Mortgage Corporation and the Underwriter.
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-3- The Certificates have the following initial Certificate Balances and Pass-Through Rates: Initial Certificate Class Principal Balance Pass-Through Rate ----- ----------------- ----------------- A $217,580,000 7.46% 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 December 17, 1999, 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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-4- Item 7. Financial Statements and Exhibits --------------------------------- (a) Not applicable (b) Not applicable (c) Exhibits Exhibit No. Description ----------- ----------- 4.1 Pooling and Servicing Agreement, dated as of December 1, 1999, 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 1999-NCD 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: December 17, 1999 NEW CENTURY MORTGAGE SECURITIES, INC. By: /s/ Patrick J. Flanagan ----------------------- Name: Patrick J. Flanagan Title: President
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Index to Exhibits ----------------- Sequentially Exhibit No. Description Numbered Page ----------- ----------- ------------- 4.1 Pooling and Servicing Agreement, dated as of 7 December 1, 1999, 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 1999-NCD Certificates.

Dates Referenced Herein   and   Documents Incorporated By Reference

Referenced-On Page
This 8-K Filing   Date First   Last      Other Filings
9/10/993
12/1/9916
12/10/992
For The Period Ended12/17/9915
12/21/992424B5
Filed On / Filed As Of12/28/99
 
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Filing Submission 0000882377-99-000649   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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