8-K 1 d187454.txt NEW CENTURY MORTGAGE SECURITIES, INC. ================================================================================ UNITED STATES 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): November 14, 2003 NEW CENTURY MORTGAGE SECURITIES, INC. (as depositor under the Pooling and Servicing Agreement, dated as of November 1, 2003, providing for the issuance of Asset Backed Pass-Through Certificates, Series 2003-B) New Century Mortgage Securities, Inc. ------------------------------------- (Exact name of registrant as specified in its charter) -------------------------------------------------------------------------------- Delaware 333-110474 33-0852169 ---------------------------- ----------- --------------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification Number) 18400 Von Karman, Suite 1000 Irvine, California 92612 ---------------------------------------- ----- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (949) 863-7243 ================================================================================ -2- Item 2. ACQUISITION OR DISPOSITION OF ASSETS Description of the Certificates and the Mortgage Pools On November 14, 2003, a single series of certificates, entitled New Century Home Equity Loan Trust, Series 2003-B, Asset Backed Pass-Through Certificates (the "Certificates"), were issued pursuant to a pooling and servicing agreement, dated as of November 1, 2003 (the "Pooling and Servicing Agreement"), attached hereto as Exhibit 4.1, among New Century Mortgage Securities, Inc. as depositor (the "Depositor"), EMC Mortgage Corporation as master servicer (the "Master Servicer"), New Century Mortgage Corporation ("New Century") as a responsible party, NC Capital Corporation as a responsible party (together with New Century, the "Responsible Parties") and Deutsche Bank National Trust Company (the "Trustee"). The Certificates consist of thirteen classes of certificates (collectively, the "Certificates"), designated as the "Class A-1 Certificates," the "Class A-2 Certificates," the "Class A-3A Certificates," the "Class A-3B Certificates," the "Class M-1 Certificates," the "Class M-2 Certificates," the "Class M-3 Certificates," the "Class M-4 Certificates," the "Class M-5 Certificates," the "Class M-6 Certificates," the "Class CE Certificates," the "Class P 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, adjustable-rate and fixed-rate, first lien 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 $890,632,597.49 as of November 1, 2003 (the "Cut-off Date"). Certain Underlying Certificates issued by the Underlying Trusts were purchased pursuant to the Underlying Security Purchase Agreement, dated November 14, 2003 (the "Purchase Agreement", together with the Pooling and Servicing Agreement, the "Agreements"), between Bear, Stearns & Co. Inc. ("Bear Stearns") and the Depositor. The Certificates were sold by the Depositor to Bear Stearns (the "Underwriter"), pursuant to an Underwriting Agreement, dated November 13, 2003, between the Depositor and the Underwriter. Capitalized terms not defined herein have the meanings assigned to them in the Agreements. -3- The Certificates have the following initial Certificate Balances and Pass-Through Rates: Initial Certificate Class Principal Balance Pass-through Rate ----- ----------------- ----------------- A-1 $377,223,000.00 Variable A-2 $132,295,000.00 Variable A-3A $164,710,000.00 Variable A-3B $47,184,000.00 Variable M-1 $54,774,000.00 Variable M-2 $45,422,000.00 Variable M-3 $14,250,000.00 Variable M-4 $12,024,000.00 Variable M-5 $8,016,000.00 Variable M-6 $13,359,000.00 Variable CE $21,375,497.00 Variable P $100.00 N/A R 100 % Percentage Interest N/A The Certificates, other than the Class CE, Class P and Class R Certificates, and the Mortgage Loans are more particularly described in the Prospectus, dated November 14, 2003, and the Prospectus Supplement, dated November 14, 2003, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class CE, Class P and Class R Certificates 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. -4- Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Not applicable (b) Not applicable (c) Exhibits: EXHIBIT NO. DESCRIPTION 4.1 Pooling and Servicing Agreement, dated as of November 1, 2003, by and among New Century Mortgage Securities, Inc. as Depositor, EMC Mortgage Corporation as Master Servicer, New Century Mortgage Corporation as a Responsible Party, NC Capital Corporation as a Responsible Party and Deutsche Bank National Trust Company as Trustee, relating to the Series 2003-B Certificates. 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: January 8, 2004 NEW CENTURY MORTGAGE SECURITIES INC. By: /s/ Kevin M. Cloyd -------------------------------- Name: Kevin Cloyd Title: Executive Vice President INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION 4.1 Pooling and Servicing Agreement, dated as of November 1, 2003, by and among New Century Mortgage Securities, Inc. as Depositor, EMC Mortgage Corporation as Master Servicer, New Century Mortgage Corporation as a Responsible Party, NC Capital Corporation as a Responsible Party and Deutsche Bank National Trust Company as Trustee, relating to the Series 2003-B Certificates. Exhibit 4.1

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 26, 2003 NEW CENTURY MORTGAGE SECURITIES, INC. (as depositor, NC Capital Corporation and New Century Mortgage Corporation, as Responsible Parties, and EMC Mortgage Corporation as Master Servicer, and Deutsche Bank National Trust Company as Trustee.) NEW CENTURY MORT SEC INC HOME EQUITY LN TR SE 2003-B (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-104454-04 33-0852169 (Commission File Number) (I.R.S. Employer Identification No.) 189400 Von Karman Suite 1000 Irvine, CALIFORNIA 92612 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (949) 863-7243 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of December 26, 2003. SIGNATURE 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, hereunto duly authorized. Deutsche Bank National Trust Company, formerly known as Bankers Trust Company of California, N.A., not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of November 1,2003. Date: Jan 02, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of December 26, 2003.

	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	December 26, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				15
			8.	Prepayment Report				16
			9.	Prepayment Detail Report				19
			10.	Realized Loss Report				20
			11.	Realized Loss Detail Report				23
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
			13.	Additional Certificate Report				25
				Total Number of Pages				25
			CONTACTS
				Administrator: Jeremy Conyers
				Direct Phone Number: (714)247-6274
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Bear, Stearns & Co. Inc					Cut-Off Date: November 1, 2003
	Certificate Insurer(s):							Closing Date: November 14, 2003
								First Payment Date: December 26, 2003
	Servicer(s):		EMC Mortgage Corp. Master Servicer
								Distribution Date: December 26, 2003
	Underwriter(s):		Bear, Stearns & Co. Inc					Record Date: December 24, 2003
								November 28, 2003
						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	REMIC II SERIES 2003-B
	Certificate Payment Report for December 26, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	STEP, FLT	377,223,000.00			377,223,000.00	651,338.38	2,086,756.93	2,738,095.31	-	-	375,136,243.07
A-2	FLT,STEP	132,295,000.00			132,295,000.00	228,429.37	1,390,268.19	1,618,697.56	-	-	130,904,731.81
A-3A	FLT,STEP	164,710,000.00			164,710,000.00	261,339.87	2,295,566.09	2,556,905.96	-	-	162,414,433.91
A-3B	FLT,STEP	47,184,000.00			47,184,000.00	93,031.12	-	93,031.12	-	-	47,184,000.00
M-1	MEZ,FLT,STE	54,774,000.00			54,774,000.00	113,108.31	-	113,108.31	-	-	54,774,000.00
M-2	MEZ,FLT,STE	45,422,000.00			45,422,000.00	146,788.76	-	146,788.76	-	-	45,422,000.00
M-3	MEZ,FLT,STE	14,250,000.00			14,250,000.00	49,376.25	-	49,376.25	-	-	14,250,000.00
M-4	MEZ,FLT,STE	12,024,000.00			12,024,000.00	57,795.36	-	57,795.36	-	-	12,024,000.00
M-5	MEZ,FLT,STE	8,016,000.00			8,016,000.00	45,544.24	-	45,544.24	-	-	8,016,000.00
M-6	MEZ,FLT,STE	13,359,000.00			13,359,000.00	87,590.51	-	87,590.51	-	-	13,359,000.00
CE	SUB	21,375,497.00			21,375,497.00	3,350,670.02	315.15	3,350,985.17	-	-	21,375,182.34
P	SUB	100.00			100.00	67,141.57	-	67,141.57	-	-	100.00
R	R	-			-	-	-	-	-	-	-
Total		890,632,597.00			890,632,597.00	5,152,153.75	5,772,906.35	10,925,060.10	-	-	884,859,691.14
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	11/14/03	12/25/03		A-Act/360	64352VEP2	377,223,000.00	1,000.000000	1.726667	5.531892	7.258559	994.468108
A-2	11/14/03	12/25/03		A-Act/360	64352VEQ0	132,295,000.00	1,000.000000	1.726667	10.508849	12.235516	989.491151
A-3A	11/14/03	12/25/03		A-Act/360	64352VER8	164,710,000.00	1,000.000000	1.586667	13.937017	15.523684	986.062983
A-3B	11/14/03	12/25/03		A-Act/360	64352VEY3	47,184,000.00	1,000.000000	1.971667	-	1.971667	1,000.000000
M-1	11/14/03	12/25/03		A-Act/360	64352VES6	54,774,000.00	1,000.000000	2.065000	-	2.065000	1,000.000000
M-2	11/14/03	12/25/03		A-Act/360	64352VET4	45,422,000.00	1,000.000000	3.231667	-	3.231667	1,000.000000
M-3	11/14/03	12/25/03		A-Act/360	64352VEU1	14,250,000.00	1,000.000000	3.465000	-	3.465000	1,000.000000
M-4	11/14/03	12/25/03		A-Act/360	64352VEV9	12,024,000.00	1,000.000000	4.806667	-	4.806667	1,000.000000
M-5	11/14/03	12/25/03		A-Act/360	64352VEW7	8,016,000.00	1,000.000000	5.681667	-	5.681667	1,000.000000
M-6	11/14/03	12/25/03		A-Act/360	64352VEX5	13,359,000.00	1,000.000000	6.556667	-	6.556667	1,000.000000
CE	11/01/03	11/30/03		A-30/360		912,008,094.49	1,000.000000	3.673948	0.000346	3.674293	993.669770
P				-		100.00	1,000.000000	671,415.700000	-	671,415.700000	1,000.000000
R				-		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	REMIC II SERIES 2003-B
	Certificate Payment Report for December 26, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	377,223,000.00		651,338.38		1,694,499.72	392,257.21	2,086,756.93	2,738,095.31	-	-	375,136,243.07
A-2	132,295,000.00		228,429.37		1,257,305.65	132,962.54	1,390,268.19	1,618,697.56	-	-	130,904,731.81
A-3A	164,710,000.00		261,339.87		2,043,849.70	251,716.39	2,295,566.09	2,556,905.96	-	-	162,414,433.91
A-3B	47,184,000.00		93,031.12		-	-	-	93,031.12	-	-	47,184,000.00
M-1	54,774,000.00		113,108.31		-	-	-	113,108.31	-	-	54,774,000.00
M-2	45,422,000.00		146,788.76		-	-	-	146,788.76	-	-	45,422,000.00
M-3	14,250,000.00		49,376.25		-	-	-	49,376.25	-	-	14,250,000.00
M-4	12,024,000.00		57,795.36		-	-	-	57,795.36	-	-	12,024,000.00
M-5	8,016,000.00		45,544.24		-	-	-	45,544.24	-	-	8,016,000.00
M-6	13,359,000.00		87,590.51		-	-	-	87,590.51	-	-	13,359,000.00
CE	21,375,497.00		3,350,670.02		315.15	0.00	315.15	3,350,985.17	-	-	21,375,182.34
P	100.00		67,141.57		-	-	-	67,141.57	-	-	100.00
R	-		-		-	-	-	-	-	-	-
Total	890,632,597.00		5,152,153.75		4,995,970.21	776,936.14	5,772,906.35	10,925,060.10	-	-	884,859,691.14
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	1.48000%	377,223,000.00			651,338.38	-	-	-	651,338.38	651,338.38	-
A-2	1.48000%	132,295,000.00			228,429.37	-	-	-	228,429.37	228,429.37	-
A-3A	1.36000%	164,710,000.00			261,339.87	-	-	-	261,339.87	261,339.87	-
A-3B	1.69000%	47,184,000.00			93,031.12	-	-	-	93,031.12	93,031.12	-
M-1	1.77000%	54,774,000.00			113,108.31	-	-	-	113,108.31	113,108.31	-
M-2	2.77000%	45,422,000.00			146,788.76	-	-	-	146,788.76	146,788.76	-
M-3	2.97000%	14,250,000.00			49,376.25	-	-	-	49,376.25	49,376.25	-
M-4	4.12000%	12,024,000.00			57,795.36	-	-	-	57,795.36	57,795.36	-
M-5	4.87000%	8,016,000.00			45,544.24	-	-	-	45,544.24	45,544.24	-
M-6	4.89380%	13,359,000.00			76,272.39	-	-	-	76,272.39	87,590.51	-
CE	4.52980%	912,008,094.49			3,361,988.12	-	-	-	3,361,988.12	3,350,670.02	11,318.10
P		100.00			-	-	-	-	-	67,141.57	-
R		-			-	-	-	-	-	-	-
Total		1,781,265,194.49			5,085,012.17	-	-	-	5,085,012.17	5,152,153.75	11,318.10
							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
SUMMARY					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Principal Collections				2,295,691.41	1,390,344.09	2,086,870.85	5,772,906.35
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				2,295,691.41	1,390,344.09	2,086,870.85	5,772,906.35
	Interest Collections				1,551,305.27	1,041,027.07	2,866,374.43	5,458,706.77
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0.00	0.00	67,141.57
	Interest Fees				(109,762.06)	(68,529.34)	(195,403.19)	(373,694.59)
	TOTAL NET INTEREST				1,441,543.21	972,497.73	2,670,971.24	5,152,153.75
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION				3,737,234.62	2,362,841.82	4,757,842.09	10,925,060.10
PRINCIPAL - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received				251,716.39	132,962.54	392,257.21	776,936.14
	Curtailments				11,870.82	4,058.48	17,772.69	33,701.99
	Prepayments in Full				2,032,104.20	1,253,323.07	1,676,840.95	4,962,268.22
	Repurchses/Substitutions				0.00	0.00	0.00	0.00
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Principal				0.00	0.00	0.00	0.00
	Other Additional Principal				0.00	0.00	0.00	0.00
	Delinquent Interest				0.00	0.00	0.00	0.00
	Realized Losses				0.00	0.00	0.00	0.00
	Loss Recoveries				0.00	0.00	0.00	0.00
	Substitution Shortfalls				0.00	0.00	0.00	0.00
	Loan Adjustments				0.00	0.00	0.00	0.00
	Advanced Principal				0.00	0.00	0.00	0.00
	TOTAL PRINCIPAL COLLECTED				2,295,691.41	1,390,344.09	2,086,870.85	5,772,906.35
				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Scheduled Interest				1,551,305.27	1,041,027.07	2,866,374.43	5,458,706.77
	Repurchased Interest				0.00	0.00	0.00	0.00
	Liquidation Interest				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Interest				0.00	0.00	0.00	0.00
	Net Prepayment Interest Shortfalls				(5,575.30)	(3,781.87)	(3,981.41)	(13,338.58)
	Delinquent Interest				0.00	0.00	0.00	0.00
	Realized Losses				0.00	0.00	0.00	0.00
	Compensating Interest				5,575.30	3,781.87	3,981.41	13,338.58
	Subsistution Shortfalls				0.00	0.00	0.00	0.00
	Civil Relief Act Shortfalls				0.00	0.00	0.00	0.00
	Loss Recoveries				0.00	0.00	0.00	0.00
	Loan Adjustments				0.00	0.00	0.00	0.00
	Interest Advanced				0.00	0.00	0.00	0.00
	TOTAL INTEREST COLLECTED				1,551,305.27	1,041,027.07	2,866,374.43	5,458,706.77
				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Prepayment Charges							67,141.57
	Available Funds Cap Account Distributions							11,318.12
	Available Fund Cap Account Interest Earnings							0.00
	TOTAL INTEREST OTHER ACCOUNTS							78,459.69
INTEREST - FEES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				108,999.07	68,052.97	194,044.88	371,096.92
	Trustee Fee				762.99	476.37	1,358.31	2,597.67
	Extraordinary Trust Fund Expenses				0.00	0.00	0.00	0.00
	TOTAL INTEREST OTHER FEES				109,762.06	68,529.34	195,403.19	373,694.59
				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Credit Enhancement Report for December 26, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Original Available Funds Cap Reserve Account Balance							1,000.00
	Beginning Available Funds Cap Reserve Account Balance							1,000.00
	Deposits to the Available Funds Cap Reserve Account							11,318.12
	Available Funds Cap Account Interest Earnings							0.00
	Amounts Withdrawn to Pay Net WAC Carryover							(11,318.12)
	Interest Earnings Paid to Class CE							0.00
	Ending Available Funds Cap Reserve Account Balance							1,000.00
INSURANCE					GROUP 3	GROUP 2	GROUP 1	TOTAL
	PMI and TAX PREMIUM							0.00
STRUCTURAL FEATURES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Overcollateralized Amount							21,375,182.34
	Overcollateralization Target Amount							21,375,182.34
	Overcollateralization Increase Amount							0.00
	Overcollateralization Reduction Amount							315.15
	Credit Enhancement Percentage							19.123956%
				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
COLLATERAL					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original				1255	1117	3090	10924
	Prior				1,250	1,109	3,079	-
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(5)	(8)	(11)	(48)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				1,250	1,109	3,079	10,876
	Principal Balance:
	Original				261,597,756.39	163,327,125.08	465,707,716.02	1,781,265,194.98
	Prior				259,302,064.98	161,936,780.99	463,620,845.17	-
	Prefunding				-	-	-	-
	Scheduled Principal				(251,716.39)	(132,962.54)	(392,257.21)	(1,553,872.28)
	Partial and Full Voluntary Prepayments				(2,043,975.02)	(1,257,381.55)	(1,694,613.64)	(9,991,940.42)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				259,302,064.98	161,936,780.99	463,620,845.17	1,769,719,382.28
PREFUNDING					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1		Group 3
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Collateral Report for December 26, 2003 Distribution
	Collateral Report
CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original				7.116140%	7.648653%	7.385854%	7.354826%
	Weighted Average Coupon Prior				7.116140%	7.648653%	7.385854%
	Weighted Average Coupon Current				7.116140%	7.648653%	7.385854%	7.354826%
	Weighted Average Months to Maturity Original				344	350	353	350
	Weighted Average Months to Maturity Prior				344	350	353	-
	Weighted Average Months to Maturity Current				344	350	353	350
	Weighted Avg Remaining Amortization Term Original				344	350	352	349
	Weighted Avg Remaining Amortization Term Prior				344	350	352	-
	Weighted Avg Remaining Amortization Term Current				344	350	352	349
	Weighted Average Seasoning Original				3.48	3.40	3.68	3.57
	Weighted Average Seasoning Prior				3.48	3.40	3.68	-
	Weighted Average Seasoning Current				3.48	3.40	3.68	3.57
Note: Original information refers to deal issue.
	Group 1		Group 3
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Collateral Report for December 26, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original				3.368%	4.084%	4.680%
	Weighted Average Margin Prior				3.368%	4.084%	4.680%
	Weighted Average Margin Current				3.368%	4.084%	4.680%
	Weighted Average Max Rate Original				8.301%	10.417%	11.653%
	Weighted Average Max Rate Prior				8.301%	10.417%	11.653%
	Weighted Average Max Rate Current				8.301%	10.417%	11.653%
	Weighted Average Min Rate Original				4.211%	5.459%	6.045%
	Weighted Average Min Rate Prior				4.211%	5.459%	6.045%
	Weighted Average Min Rate Current				4.211%	5.459%	6.045%
	Weighted Average Cap Up Original				0.876%	1.062%	1.201%
	Weighted Average Cap Up Prior				0.876%	1.062%	1.201%
	Weighted Average Cap Up Current				0.876%	1.062%	1.201%
	Weighted Average Cap Down Original				0.876%	1.062%	1.201%
	Weighted Average Cap Down Prior				0.876%	1.062%	1.201%
	Weighted Average Cap Down Current				0.876%	1.062%	1.201%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees				108,999.07	68,052.97	194,044.88	371,096.92
	Delinquent Servicing Fees				0.00	0.00	0.00	0.00
	TOTAL SERVICING FEES				108,999.07	68,052.97	194,044.88	371,096.92
	Total Servicing Fees				108,999.07	68,052.97	194,044.88	371,096.92
	Delinquent Servicing Fees				0.00	0.00	0.00	0.00
	Compensating Interest				5,575.30	3,781.87	3,981.41	13,338.58
	COLLECTED SERVICING FEES				114,574.37	71,834.84	198,026.29	384,435.50
ADDITIONAL COLLATERAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Prepayment Interest Shortfall				(5,575.30)	(3,781.87)	(3,981.41)	(13,338.58)
	Compensating Interest				5,575.30	3,781.87	3,981.41	13,338.58
	NET PREPAYMENT INTERET SHORTFALLS				0.00	0.00	0.00	0.00
	Principal Advances				0.00	0.00	0.00	0.00
	Interest Advances				0.00	0.00	0.00	0.00
	TOTAL ADVANCES				0.00	0.00	0.00	0.00
				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2003 Deutsche Bank
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	SERIES 2003-B
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 3 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 14 of 25				© COPYRIGHT 2003 Deutsche Bank
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	REO Report for December 26, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 000.00
Total Current Balance = 000.00				Loan Group 3 = Group 3 Group; REO Book Value = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans				5	8	11	48
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				5	8	11	48
	Paid in Full Balance				2,032,104.20	1,253,323.07	1,676,840.95	9,924,536.44
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				11,870.82	4,058.48	17,772.69	67,403.98
	Total Prepayment Amount				2,043,975.02	1,257,381.55	1,694,613.64	9,991,940.42
	Cumulative
	Number of Paid in Full Loans				10	16	22	48
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				10	16	22	48
	Paid in Full Balance				4,064,208.40	2,506,646.14	3,353,681.90	9,924,536.44
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				23,741.64	8,116.96	35,545.38	67,403.98
	Total Prepayment Amount				4,087,950.04	2,514,763.10	3,389,227.28	9,991,940.42
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	SMM				0.78%	0.77%	0.36%	0.56%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off				0.78%	0.77%	0.36%	0.56%
	CPR				8.99%	8.86%	4.28%	6.53%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off				8.99%	8.86%	4.28%	6.53%
	PSA				1290.23%	1302.88%	581.83%	914.36%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				1290.23%	1302.88%	581.83%	914.36%
	Group 1		Group 3
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1		Group 3
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
				Page 18 of 25				© COPYRIGHT 2003 Deutsche Bank
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	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 24						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 4,972,764.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 9,924,536.44						Loan Group 3 = Group 3 Group
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
923956 1			40,000.00	39,928.14	Nov-21-03	9.990%	OH - 80.00%	Paid Off - 360	Jun-17-03
956491 1			50,000.00	49,910.33	Nov-04-03	8.600%	MI - 29.00%	Paid Off - 360	Jul-16-03
957496 1			240,574.00	239,778.30	Nov-26-03	7.000%	CA - 86.00%	Paid Off - 360	Jul-11-03
962752 1			137,500.00	137,062.73	Nov-10-03	6.700%	NJ - 85.00%	Paid Off - 360	Jul-01-03
968220 1			221,000.00	220,489.88	Nov-26-03	7.350%	GA - 85.00%	Paid Off - 360	Jul-17-03
977424 1			135,000.00	134,828.70	Nov-18-03	10.250%	FL - 75.00%	Paid Off - 360	Jul-22-03
978144 1			109,600.00	109,397.33	Nov-25-03	8.450%	NC - 80.00%	Paid Off - 360	Jul-29-03
982022 1			172,000.00	171,573.72	Nov-19-03	6.990%	CA - 80.00%	Paid Off - 360	Jul-21-03
987446 1			152,000.00	151,791.15	Nov-18-03	7.900%	VA - 80.00%	Paid Off - 360	Aug-27-03
994921 1			225,250.00	224,735.19	Nov-13-03	6.900%	NJ - 85.00%	Paid Off - 360	Jul-29-03
1036878 1			198,000.00	197,345.48	Nov-24-03	7.650%	ME - 90.00%	Paid Off - 360	Aug-26-03
949654 2			242,250.00	241,885.88	Nov-20-03	9.450%	IL - 85.00%	Paid Off - 360	Aug-05-03
950985 2			39,200.00	39,113.16	Nov-13-03	8.990%	ID - 80.00%	Paid Off - 360	Jul-03-03
986629 2			39,800.00	39,636.28	Nov-21-03	9.750%	DC - 20.00%	Paid Off - 240	Jul-24-03
999864 2			260,000.00	259,758.96	Nov-19-03	9.800%	IL - 65.00%	Paid Off - 360	Aug-22-03
1006510 2			97,930.00	97,826.98	Nov-20-03	9.200%	FL - 70.00%	Paid Off - 360	Aug-11-03
1033990 2			170,000.00	169,795.39	Nov-14-03	8.550%	IL - 85.00%	Paid Off - 360	Aug-26-03
1040472 2			233,910.00	233,547.56	Nov-14-03	7.300%	IL - 90.00%	Paid Off - 360	Aug-27-03
1045087 2			172,000.00	171,758.86	Nov-26-03	7.800%	CA - 80.00%	Paid Off - 360	Aug-21-03
967257 3			352,000.00	351,417.64	Nov-14-03	8.490%	CA - 80.00%	Paid Off - 360	Jul-22-03
992570 3			435,000.00	433,591.70	Nov-21-03	5.600%	CA - 54.00%	Paid Off - 360	Jul-29-03
1013230 3			379,500.00	378,625.48	Nov-03-03	5.950%	NY - 80.00%	Paid Off - 360	Aug-20-03
1014177 3			375,250.00	374,275.27	Nov-20-03	6.750%	CA - 95.00%	Paid Off - 360	Aug-08-03
1020607 3			495,000.00	494,194.11	Nov-21-03	7.050%	CA - 90.00%	Paid Off - 360	Aug-07-03
					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated				-	-	-	-
	Collateral Realized Loss/(Gain) Amount				-	-	-	-
	Net Liquidation Proceeds				-	-	-	-
	Cumulative
	Number of Loans Liquidated				-	-	-	-
	Collateral Realized Loss/(Gain) Amount				-	-	-	-
	Net Liquidation Proceeds				-	-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Current Realized Losses							0.00
	Current Supplemental Losses (Recoveries)							0.00
	CURRENT NET REALIZED LOSSES							0.00
	Beginning Cumulative Realized Losses							0.00
	Current Net Realized Losses							0.00
	Ending Cumulative Realized Losses							0.00
	Current Bankruptcy Losses (Recoveries)							0.00
	Cumulative Bankruptcy Losses							0.00
	Group 1		Group 3				3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
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	SERIES 2003-B
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	0.00%	0.00%	0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1		Group 3
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 21 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1		Group 3
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 22 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Realized Loss Detail Report for December 26, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00						Loan Group 3 = Group 3 Group
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
					Page 23 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					GROUP 3	GROUP 2	GROUP 1	TOTAL
	Has a Stepdown Date occurred?							No
	Is there a Trigger Event in effect?							No
	Has the Optional Termination Event been reached?							No
	Is Overcollateralization Step-Up Trigger in Effect?							No
ADJUSTABLE RATE CERTIFICATE INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION					GROUP 3	GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-B
	Home Equity Loan Pass-Through Certificates
	SERIES 2003-B
	Additional Certificate Report for December 26, 2003 Distribution
	Additional Certificate Report
	CLASS		Net WAC Rate Carryover Due	Net WAC Rate Carryover Paid	Interest Carryforward Amount Due	Interest Carryforward Amount Paid	Net PPIS & Relief Act Shortfall Allocation Due	Net PPIS & Relief Act Shortfall Allocation Paid
	A-1		0.00	0.00	0.00	0.00	0.00	0.00
	A-2		0.00	0.00	0.00	0.00	0.00	0.00
	A-3A		0.00	0.00	0.00	0.00	0.00	0.00
	A-3B		0.00	0.00	0.00	0.00	0.00	0.00
	M-1		0.00	0.00	0.00	0.00	0.00	0.00
	M-2		0.00	0.00	0.00	0.00	0.00	0.00
	M-3		0.00	0.00	0.00	0.00	0.00	0.00
	M-4		0.00	0.00	0.00	0.00	0.00	0.00
	M-5		0.00	0.00	0.00	0.00	0.00	0.00
	M-6		0.00	0.00	0.00	0.00	0.00	0.00
	CE		0.00	0.00	0.00	0.00	0.00	0.00
				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · NEW CENTURY MORT SEC INC HOME EQUITY LN TR SE 2003 B