

                           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, New Century Mortgage Corporation, as Master
             Servicer, Deutsche Bank National Trust Company as Trustee.)


                   NEW CENTURY HOME EQUITY LOAN TRUST SERIES 2003-1
              (Exact name of Registrant as specified in its Charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-72880-02                             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 January 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 2003-1
	Asset Backed Notes


	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				12
			8.	Prepayment Report				13
			9.	Prepayment Detail Report				16
			10.	Realized Loss Report				18
			11.	Realized Loss Detail Report				21
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				22
			13.	Additional Certificate Report				23




				Total Number of Pages				23



			CONTACTS

				Administrator: Eiko Akiyama
				Direct Phone Number: (714)247-6328
				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:		New Century Mortgage Securities, Inc.					Cut-Off Date: January 1, 2003
	Certificate Insurer(s):							Closing Date: January 24, 2003
								First Payment Date: February 25, 2003
	Servicer(s):		New Century Mortgage Corporation Master Servicer


								Distribution Date: December 26, 2003
	Underwriter(s):		Salomon Smith Barney Co-Lead Underwriter					Record Date: December 25, 2003
			Morgan Stanley & Co. Inc Co-Lead Underwriter					November 28, 2003






						Page 1 of 23					© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes
	REMIC II
	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	FLT,STEP	394,884,000.00			325,068,719.68	450,321.76	14,300,692.36	14,751,014.12	-	-	310,768,027.32
M-1	MEZ,FLT	32,578,000.00			32,578,000.00	60,840.55	-	60,840.55	-	-	32,578,000.00
M-2	MEZ,FLT	27,148,000.00			27,148,000.00	74,077.28	-	74,077.28	-	-	27,148,000.00
M-3	MEZ,FLT	21,718,000.00			21,718,000.00	86,378.07	-	86,378.07	-	-	21,718,000.00
M-4	MEZ,FLT	7,405,000.00			7,405,000.00	29,451.59	-	29,451.59	-	-	7,405,000.00
CE	SUB	9,872,014.65			9,872,115.00	1,819,922.50	-	1,819,922.50	-	-	9,872,115.00
P	PO	100.00			100.00	312,412.90	-	312,412.90	-	-	100.00
R-II	R	-			-	-	-	-	-	-	-


Total		493,605,114.65			423,789,934.68	2,833,404.65	14,300,692.36	17,134,097.01	-	-	409,489,242.32


	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	11/25/03	12/25/03		A-Act/360	64352VCH2	394,884,000.00	823.200534	1.140390	36.214920	37.355310	786.985614
M-1	11/25/03	12/25/03		A-Act/360	64352VCJ8	32,578,000.00	1,000.000000	1.867535	-	1.867535	1,000.000000
M-2	11/25/03	12/25/03		A-Act/360	64352VCK5	27,148,000.00	1,000.000000	2.728646	-	2.728646	1,000.000000
M-3	11/25/03	12/25/03		A-Act/360	64352VCL3	21,718,000.00	1,000.000000	3.977257	-	3.977257	1,000.000000
M-4	11/25/03	12/25/03		A-Act/360	64352VCM1	7,405,000.00	1,000.000000	3.977257	-	3.977257	1,000.000000
CE	11/01/03	11/30/03		A-30/360	6435299K8	9,872,014.65	43,928.424446	184.351681	-	184.351681	42,479.815132
P				-	6435299L6	100.00	1,000.000000	3,124,129.000000	-	3,124,129.000000	1,000.000000
R-II				-	6435299M4	-	-	-	-	-	-


							Page 2 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes
	REMIC II
	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	394,884,000.00		5,899,375.32		80,151,265.37	3,964,707.31	84,115,972.68	90,015,348.00	-	-	310,768,027.32
M-1	32,578,000.00		685,288.42		-	-	-	685,288.42	-	-	32,578,000.00
M-2	27,148,000.00		824,447.99		-	-	-	824,447.99	-	-	27,148,000.00
M-3	21,718,000.00		953,463.19		-	-	-	953,463.19	-	-	21,718,000.00
M-4	7,405,000.00		325,094.16		-	-	-	325,094.16	-	-	7,405,000.00
CE	9,872,014.65		22,172,898.80		-	-	-	22,172,898.80	-	100.35	9,872,115.00
P	100.00		1,763,374.21		-	-	-	1,763,374.21	-	-	100.00
R-II	-		-		-	-	-	-	-	-	-


Total	493,605,114.65		32,623,942.09		80,151,265.37	3,964,707.31	84,115,972.68	116,739,914.77	-	100.35	409,489,242.32


	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	1.60875%	325,068,719.68			450,321.76	-	-	-	450,321.76	450,321.76	-
M-1	2.16875%	32,578,000.00			60,840.55	-	-	-	60,840.55	60,840.55	-
M-2	3.16875%	27,148,000.00			74,077.28	-	-	-	74,077.28	74,077.28	-
M-3	4.61875%	21,718,000.00			86,378.07	-	-	-	86,378.07	86,378.07	-
M-4	4.61875%	7,405,000.00			29,451.59	-	-	-	29,451.59	29,451.59	-
CE	5.15778%	433,662,049.68			1,821,511.25	153.45	-	-	1,821,511.25	1,819,922.50	1,588.75
P		100.00			-	-	-	-	-	312,412.90	-
R-II		-			-	-	-	-	-	-	-


Total		847,579,869.36			2,522,580.50	153.45	-	-	2,522,580.50	2,833,404.65	1,588.75


							Page 3 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


SUMMARY								TOTAL

	Principal Collections							14,299,256.37
	Principal Other Accounts							0.00
	TOTAL NET PRINCIPAL							14,299,256.37

	Interest Collections							2,626,690.03
	Interest Withdrawals							0.00
	Interest Other Accounts							312,413.59
	Interest Fees							(104,262.98)
	TOTAL NET INTEREST							2,834,840.64

	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							17,134,097.01


PRINCIPAL - COLLECTIONS								TOTAL

	Scheduled Principal Received							333,043.62
	Curtailments							10,773.85
	Prepayments in Full							13,688,447.73
	Repurchses/Substitutions							0.00
	Liquidations							268,427.16
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Loss Recoveries							(1,435.99)
	Substitution Shortfalls							0.00

	Loan Adjustments							0.00
	Advanced Principal							139,308.46

	TOTAL PRINCIPAL COLLECTED							14,299,256.37


				Page 4 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS								TOTAL

	Scheduled Interest							2,699,466.18
	Repurchased Interest							0.00
	Liquidation Interest							1,787.28
	Insurance Interest							0.00
	Other Interest							0.00
	Net Prepayment Interest Shortfalls							(45,366.70)
	Delinquent Interest							(1,177,774.59)
	Realized Losses							0.00
	Compensating Interest							45,366.70
	Subsistution Shortfalls							0.00
	Civil Releif Act Shortfalls							(153.45)
	Loss Recoveries							0.00
	Loan Adjustments							0.00
	Interest Advanced							1,103,364.61

	TOTAL INTEREST COLLECTED							2,626,690.03


				Page 5 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collection Account Report for December 26, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - OTHER ACCOUNTS								TOTAL

	Prepayment Charges							312,412.90
	Available Funds Cap Account Distributions							0.00
	Available Fund Cap Account Interest Earnings							0.69

	TOTAL INTEREST OTHER ACCOUNTS							312,413.59


INTEREST - FEES								TOTAL

	Current Servicing Fees							102,144.03
	Trustee Fee							2,118.95
	Extraordinary Trust Fund Expenses							0.00

	TOTAL INTEREST OTHER FEES							104,262.98


				Page 6 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Credit Enhancement Report for December 26, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS								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							0.00
	Available Funds Cap Account Interest Earnings							0.69
	Amounts Withdrawn to Pay Net WAC Carryover							0.00
	Interest Earnings Paid to Class CE							(0.69)
	Ending Available Funds Cap Reserve Account Balance							1,000.00


INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES								TOTAL

	Overcollateralized Amount							9,872,115.00

	Overcollateralization Target Amount							9,872,115.00

	Overcollateralization Increase Amount							1,435.99

	Overcollateralization Reduction Amount							0.00

	Credit Enhancement Percentage							24.108354%


				Page 7 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


COLLATERAL								TOTAL
	Loan Count:
	*Original*							3366
	Prior							2,960
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(80)
	Repurchases							-
	Liquidations							(1)
	Current							2,879

	*Principal Balance:*
	Original							493,605,114.65
	Prior							423,789,934.68
	Prefunding							-
	Scheduled Principal							(333,043.62)
	Partial and Full Voluntary Prepayments							(13,699,221.58)
	Repurchases							-
	Liquidations							(268,427.16)
	Current							409,489,242.32

PREFUNDING								TOTAL
SPACE INTENTIONALLY LEFT BLANK




Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


CHARACTERISTICS								TOTAL

	Weighted Average Coupon Original							7.679837%
	Weighted Average Coupon Prior							7.650631%
	Weighted Average Coupon Current							7.648846%
	Weighted Average Months to Maturity Original							356
	Weighted Average Months to Maturity Prior							347
	Weighted Average Months to Maturity Current							345
	Weighted Avg Remaining Amortization Term Original							355
	Weighted Avg Remaining Amortization Term Prior							346
	Weighted Avg Remaining Amortization Term Current							345
	Weighted Average Seasoning Original							1.34
	Weighted Average Seasoning Prior							10.33
	Weighted Average Seasoning Current							11.33

Note: Original information refers to deal issue.




WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Collateral Report for December 26, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS								TOTAL

	Weighted Average Margin Original							5.535%
	Weighted Average Margin Prior							5.515%
	Weighted Average Margin Current							5.518%
	Weighted Average Max Rate Original							13.627%
	Weighted Average Max Rate Prior							13.586%
	Weighted Average Max Rate Current							13.587%
	Weighted Average Min Rate Original							7.679%
	Weighted Average Min Rate Prior							7.651%
	Weighted Average Min Rate Current							7.651%
	Weighted Average Cap Up Original							1.296%
	Weighted Average Cap Up Prior							1.294%
	Weighted Average Cap Up Current							1.294%
	Weighted Average Cap Down Original							1.296%
	Weighted Average Cap Down Prior							1.294%
	Weighted Average Cap Down Current							1.294%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES								TOTAL

	Current Servicing Fees							102,144.03
	Delinquent Servicing Fees							74,409.98
	TOTAL SERVICING FEES							176,554.01

	Total Servicing Fees							176,554.01
	Delinquent Servicing Fees							(74,409.98)
	Compensating Interest							0.00
	COLLECTED SERVICING FEES							102,144.03


ADDITIONAL COLLATERAL INFORMATION								TOTAL

	Prepayment Interest Shortfall							0.00
	Compensating Interest							0.00
	NET PREPAYMENT INTERET SHORTFALLS							0.00

	Principal Advances							139,308.46
	Interest Advances							1,103,364.61
	TOTAL ADVANCES							1,242,673.07


				Page 10 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Delinquency Report for December 26, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			7,810,515.19	846,908.03	-	8,657,423.22
		% Balance			1.91%	0.21%	0.00%	2.11%
		# Loans			55	6	-	61
		% # Loans			1.91%	0.21%	0.00%	2.12%
FORECLOSURE		Balance		-	281,364.00	3,504,022.80	7,908,428.02	11,693,814.82
		% Balance		0.00%	0.07%	0.86%	1.93%	2.86%
		# Loans		-	3	22	61	86
		% # Loans		0.00%	0.10%	0.76%	2.12%	2.99%
BANKRUPTCY		Balance		1,661,692.46	-	-	1,137,421.81	2,799,114.27
		% Balance		0.41%	0.00%	0.00%	0.28%	0.68%
		# Loans		13	-	-	7	20
		% # Loans		0.45%	0.00%	0.00%	0.24%	0.69%
REO		Balance		-	-	-	774,729.72	774,729.72
		% Balance		0.00%	0.00%	0.00%	0.19%	0.19%
		# Loans		-	-	-	6	6
		% # Loans		0.00%	0.00%	0.00%	0.21%	0.21%

TOTAL		Balance		1,661,692.46	8,091,879.19	4,350,930.83	9,820,579.55	23,925,082.03
		% Balance		0.41%	1.98%	1.06%	2.40%	5.84%
		# Loans		13	58	28	74	173
		% # Loans		0.45%	2.01%	0.97%	2.57%	6.01%
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 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	REO Report for December 26, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 3				Loan Group 1 = Group; REO Book Value = Not Available
Total Original Principal Balance = 391,000.00
Total Current Balance = 388,241.64
REO Book Value = Not Available

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

734881 1		90,000.00	89,409.07	Jun-01-03	8.750%	TX - 84.99%	360	Dec-18-02
745448 1		49,000.00	48,643.95	Jun-01-03	8.250%	MO - 43.75%	360	Dec-11-02
758342 1		252,000.00	250,188.62	Feb-01-03	8.750%	FL - 80.00%	360	Dec-03-02


				Page 12 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS								TOTAL

	*Current*
	Number of Paid in Full Loans							80
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							80

	Paid in Full Balance							13,688,447.73
	Repurchased Loans Balance							-
	Curtailments Amount							10,773.85
	Total Prepayment Amount							13,699,221.58

	*Cumulative*
	Number of Paid in Full Loans							476
	Number of Repurchased Loans							6
	Total Number of Loans Prepaid in Full							482

	Paid in Full Balance							77,970,486.33
	Repurchased Loans Balance							766,577.46
	Curtailments Amount							512,915.62
	Total Prepayment Amount							79,249,979.41

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 13 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES								TOTAL

	SMM							3.24%
	3 Months Avg SMM							3.02%
	12 Months Avg SMM
	Avg SMM Since Cut-off							1.59%

	CPR							32.61%
	3 Months Avg CPR							30.82%
	12 Months Avg CPR
	Avg CPR Since Cut-off							17.50%

	PSA							1439.06%
	3 Months Avg PSA Approximation							1491.84%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							1380.65%







CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 14 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Prepayment Report for December 26, 2003 Distribution


	Prepayment Report - Voluntary Prepayments




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 15 of 23				© COPYRIGHT 2003 Deutsche Bank


	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Prepayment Detail Report for December 26, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 80						Loan Group 1 = Group
Total Original Principal Balance = 13,812,981.00
Total Prepayment Amount = 13,688,447.73


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

685893 1			400,000.00	396,855.41	Nov-24-03	7.350%	CA - 80.00%	Paid Off - 360	Dec-10-02
704337 1			111,350.00	110,411.09	Nov-26-03	6.990%	MD - 85.00%	Paid Off - 360	Dec-18-02
721307 1			188,000.00	186,186.09	Nov-05-03	6.990%	CA - 65.96%	Paid Off - 360	Dec-02-02
723282 1			118,000.00	117,053.68	Nov-24-03	7.750%	MD - 84.89%	Paid Off - 360	Dec-10-02
724372 1			187,000.00	185,569.98	Nov-19-03	7.990%	CA - 85.00%	Paid Off - 360	Dec-06-02
725297 1			149,600.00	148,136.98	Nov-04-03	6.730%	NJ - 80.00%	Paid Off - 360	Nov-27-02
725928 1			45,500.00	45,269.85	Nov-18-03	10.500%	MI - 70.00%	Paid Off - 360	Nov-14-02
728914 1			170,000.00	168,821.30	Nov-25-03	7.990%	NY - 51.52%	Paid Off - 360	Dec-09-02
729057 1			124,000.00	123,099.58	Nov-26-03	8.250%	CA - 50.61%	Paid Off - 360	Dec-04-02
730255 1			217,600.00	216,233.62	Nov-05-03	8.640%	MI - 85.00%	Paid Off - 360	Dec-16-02
730468 1			57,950.00	57,528.80	Nov-11-03	7.750%	IL - 55.19%	Paid Off - 360	Dec-02-02
732689 1			123,200.00	121,941.10	Nov-17-03	6.500%	CA - 80.00%	Paid Off - 360	Dec-04-02
734878 1			191,250.00	190,421.54	Nov-12-03	10.750%	CA - 79.69%	Paid Off - 360	Dec-13-02
735385 1			200,000.00	189,886.75	Nov-14-03	6.990%	CA - 80.00%	Paid Off - 360	Nov-07-02
735898 1			150,500.00	149,700.37	Nov-05-03	9.300%	CT - 70.00%	Paid Off - 360	Dec-09-02
736313 1			225,000.00	222,907.02	Nov-19-03	6.990%	CA - 52.94%	Paid Off - 360	Dec-04-02
738324 1			60,000.00	59,681.87	Nov-07-03	10.250%	KY - 75.00%	Paid Off - 360	Dec-03-02
740798 1			212,500.00	210,874.78	Nov-03-03	7.990%	CA - 85.00%	Paid Off - 360	Dec-04-02
740828 1			168,800.00	167,630.45	Nov-25-03	7.990%	MA - 80.00%	Paid Off - 360	Dec-04-02
741221 1			129,500.00	128,182.52	Nov-24-03	6.990%	CA - 70.00%	Paid Off - 360	Dec-06-02
742747 1			271,691.00	269,163.67	Nov-11-03	6.990%	CA - 78.98%	Paid Off - 360	Dec-05-02
743584 1			156,000.00	154,684.58	Nov-14-03	6.990%	CA - 80.00%	Paid Off - 360	Dec-19-02
744557 1			254,912.00	253,468.68	Nov-18-03	8.990%	NY - 67.98%	Paid Off - 360	Dec-11-02
744919 1			165,400.00	163,822.82	Nov-10-03	6.400%	CA - 80.00%	Paid Off - 360	Dec-11-02
746687 1			120,000.00	119,127.95	Nov-17-03	7.750%	RI - 72.73%	Paid Off - 360	Dec-03-02
747262 1			238,000.00	235,894.87	Nov-21-03	7.250%	CA - 82.07%	Paid Off - 360	Dec-06-02
747529 1			120,000.00	119,247.86	Nov-20-03	8.490%	RI - 80.00%	Paid Off - 360	Dec-02-02
747642 1			53,100.00	52,800.97	Nov-19-03	9.500%	MI - 90.00%	Paid Off - 360	Dec-05-02
747671 1			172,000.00	170,635.95	Nov-25-03	7.500%	CA - 63.24%	Paid Off - 360	Dec-10-02
748239 1			217,550.00	216,741.49	Nov-03-03	11.000%	CA - 94.59%	Paid Off - 360	Dec-12-02
748273 1			56,000.00	55,696.93	Nov-20-03	9.250%	NE - 71.79%	Paid Off - 360	Dec-17-02
748313 1			144,000.00	143,189.17	Nov-19-03	9.500%	MD - 90.00%	Paid Off - 360	Dec-02-02
748353 1			175,000.00	174,170.01	Nov-21-03	9.990%	CA - 70.00%	Paid Off - 360	Dec-20-02
748812 1			260,000.00	257,538.20	Nov-19-03	9.500%	CA - 80.00%	Paid Off - 360	Dec-10-02
748838 1			61,600.00	61,231.30	Nov-26-03	9.490%	WV - 71.63%	Paid Off - 360	Dec-02-02
749007 1			240,000.00	238,213.33	Nov-21-03	8.125%	CA - 80.00%	Paid Off - 360	Dec-05-02
749965 1			204,000.00	202,588.53	Nov-24-03	8.490%	CA - 85.00%	Paid Off - 360	Dec-03-02
750055 1			142,500.00	141,179.91	Nov-06-03	6.500%	NY - 95.00%	Paid Off - 360	Dec-06-02
750645 1			297,000.00	294,618.31	Nov-17-03	7.750%	CA - 90.00%	Paid Off - 360	Dec-05-02
751901 1			266,000.00	263,647.21	Nov-21-03	7.250%	CA - 93.33%	Paid Off - 360	Dec-04-02
752445 1			213,000.00	211,517.28	Nov-03-03	8.250%	DC - 48.41%	Paid Off - 360	Dec-10-02
753613 1			131,100.00	130,090.36	Nov-25-03	7.990%	WA - 95.00%	Paid Off - 360	Dec-05-02
754080 1			48,000.00	47,632.87	Nov-24-03	7.990%	MO - 64.00%	Paid Off - 360	Dec-03-02
754437 1			246,500.00	244,618.24	Nov-10-03	7.500%	NV - 85.00%	Paid Off - 360	Dec-17-02

					Page 16 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Prepayment Detail Report for December 26, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution



Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date

754487 1			145,000.00	143,161.69	Nov-05-03	7.500%	FL - 53.70%	Paid Off - 360	Dec-18-02
755216 1			203,000.00	202,017.47	Nov-14-03	9.750%	NY - 70.00%	Paid Off - 360	Dec-02-02
755483 1			132,300.00	131,186.58	Nov-05-03	7.000%	MD - 90.00%	Paid Off - 360	Dec-17-02
755876 1			195,000.00	193,893.31	Nov-07-03	9.000%	IL - 75.00%	Paid Off - 360	Dec-16-02
756266 1			154,800.00	153,291.99	Nov-18-03	6.750%	ME - 93.82%	Paid Off - 360	Dec-05-02
756442 1			153,000.00	151,289.54	Nov-26-03	7.990%	CA - 60.00%	Paid Off - 360	Dec-13-02
757345 1			234,000.00	229,795.59	Nov-26-03	7.500%	CA - 90.00%	Paid Off - 360	Dec-05-02
757363 1			150,150.00	148,548.23	Nov-03-03	5.990%	CA - 56.66%	Paid Off - 360	Dec-16-02
757553 1			297,000.00	294,952.19	Nov-25-03	8.250%	CA - 90.00%	Paid Off - 360	Dec-18-02
757764 1			99,500.00	90,104.99	Nov-25-03	7.250%	IL - 50.51%	Paid Off - 360	Dec-05-02
758278 1			168,150.00	166,733.56	Nov-04-03	7.500%	CA - 95.00%	Paid Off - 360	Dec-05-02
758456 1			99,900.00	99,143.23	Nov-25-03	7.750%	FL - 90.00%	Paid Off - 360	Dec-10-02
758777 1			80,750.00	80,103.01	Nov-25-03	7.490%	FL - 95.00%	Paid Off - 360	Dec-12-02
758847 1			162,775.00	161,708.26	Nov-06-03	9.000%	OH - 85.00%	Paid Off - 360	Dec-09-02
759803 1			110,500.00	109,964.48	Nov-18-03	9.750%	NC - 85.00%	Paid Off - 360	Dec-11-02
759917 1			193,600.00	192,211.21	Nov-26-03	7.900%	DC - 80.00%	Paid Off - 360	Dec-13-02
760242 1			133,700.00	132,820.51	Nov-18-03	8.250%	KS - 72.66%	Paid Off - 360	Dec-13-02
760315 1			197,200.00	195,833.69	Nov-05-03	7.990%	CA - 85.00%	Paid Off - 360	Dec-10-02
760869 1			130,000.00	128,290.05	Nov-19-03	5.990%	WA - 63.41%	Paid Off - 360	Dec-18-02
760877 1			220,000.00	218,480.30	Nov-19-03	8.500%	CA - 80.00%	Paid Off - 360	Dec-13-02
760974 1			160,000.00	158,530.87	Nov-14-03	6.990%	MA - 80.00%	Paid Off - 360	Dec-09-02
761269 1			192,000.00	190,604.72	Nov-12-03	7.750%	CA - 80.00%	Paid Off - 360	Dec-11-02
761358 1			131,665.00	130,477.49	Nov-05-03	7.150%	CO - 85.00%	Paid Off - 360	Dec-05-02
761375 1			263,500.00	261,278.15	Nov-25-03	6.990%	CA - 85.00%	Paid Off - 360	Dec-13-02
761528 1			72,000.00	71,513.95	Nov-26-03	8.750%	MI - 75.00%	Paid Off - 360	Dec-12-02
761658 1			179,100.00	177,589.80	Nov-24-03	6.990%	CT - 90.00%	Paid Off - 360	Dec-16-02
763513 1			245,968.00	243,499.31	Nov-07-03	6.250%	CA - 80.00%	Paid Off - 360	Dec-18-02
764084 1			152,000.00	150,883.71	Nov-14-03	7.750%	CA - 80.00%	Paid Off - 360	Dec-17-02
764440 1			275,000.00	275,000.00	Nov-18-03	4.880%	ID - 51.89%	Paid Off - 300	Dec-18-02
765320 1			283,500.00	280,866.98	Nov-04-03	6.990%	CA - 90.00%	Paid Off - 360	Dec-19-02
766405 1			295,200.00	293,615.40	Nov-05-03	9.250%	CO - 90.00%	Paid Off - 360	Dec-20-02
767303 1			128,250.00	127,221.77	Nov-20-03	7.250%	CA - 90.00%	Paid Off - 360	Dec-17-02
767403 1			198,420.00	196,746.88	Nov-17-03	6.990%	CA - 85.00%	Paid Off - 360	Dec-18-02
769962 1			150,000.00	148,959.84	Nov-14-03	7.990%	MA - 55.76%	Paid Off - 360	Dec-17-02
773829 1			197,600.00	196,091.34	Nov-25-03	7.500%	CA - 95.00%	Paid Off - 360	Dec-18-02
777965 1			145,350.00	144,124.37	Nov-25-03	6.990%	CO - 85.00%	Paid Off - 360	Dec-19-02


					Page 17 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES								TOTAL

	*Current*
	Number of Loans Liquidated							1
	Collateral Realized Loss/(Gain) Amount							1,435.99
	Net Liquidation Proceeds							266,991.17

	*Cumulative*
	Number of Loans Liquidated							5
	Collateral Realized Loss/(Gain) Amount							50,523.45
	Net Liquidation Proceeds							850,662.16

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.


	Current Realized Losses							1,435.99
	Current Supplemental Losses (Recoveries)							0.00
	CURRENT NET REALIZED LOSSES							1,435.99

	Beginning Cumulative Realized Losses							49,087.46
	Current Net Realized Losses							1,435.99
	Ending Cumulative Realized Losses							50,523.45

	Current Bankruptcy Losses (Recoveries)							0.00
	Cumulative Bankruptcy Losses							0.00


							3 Months Moving Average


Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 18 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS								TOTAL

	MDR							0.06%
	3 Months Avg MDR							0.05%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.02%

	CDR							0.76%
	3 Months Avg CDR							0.55%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.22%

	SDA							3.34%
	3 Months Avg SDA Approximation							2.68%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							1.72%

	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



CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 19 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Realized Loss Report for December 26, 2003 Distribution


	Realized Loss Report - Collateral




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 20 of 23				© COPYRIGHT 2003 Deutsche Bank


	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Realized Loss Detail Report for December 26, 2003 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 1						Loan Group 1 = Group
Total Original Principal Balance = 270,300.00
Total Prior Principal Balance = 268,427.16
Total Realized Loss Amount = 1,435.99
Total Net Liquidation Proceeds = 266,991.17
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

716523 1			270,300.00	268,427.16	-	7.990%	CA - 85.00%	360	Dec-18-02


					Page 21 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS								TOTAL

	Has a Stepdown Date occurred?							No

	Is there a Trigger Event in effect?							No

	Has the Optional Termination Event been reached?							No


ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 22 of 23				© COPYRIGHT 2003 Deutsche Bank
	New Century Home Equity Loan Trust 2003-1
	Asset Backed Notes

	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		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
	CE		0.00	0.00	0.00	0.00	153.45	0.00


				Page 23 of 23				© COPYRIGHT 2003 Deutsche Bank

NEW CENTURY HOME EQUITY LOAN TRUST SERIES 2003-1 8-K