
                                    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): December 27, 2004
                             (Date of earliest event reported)


                          New Century Mortgage Securities, Inc.
                (as Depositor under the Servicing Agreement, dated as
                 September 29, 2004, providing for the issuance of New
          Century Home Equity Loan Trust Asset Backed Notes Series 2004-3)
                    (Exact name of registrant as specified in charter)


                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-110474-04                             33-082169
          (Commission File Number)        (I.R.S. Employer Identification No.)


          18400 Von Karman, Suite 100
          Irvine, Californis                             92612
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (949) 863-7243



             (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
     simultaneously satisfy the filing obligation of the registrant under any
     of the following provisions (see General Instruction A.2. below):

     [  ] Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

     [  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
     (17 CFR 240.14a-12(b))

     [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01 Other Events.

     This current report on Form 8-K relates to the monthly distribution reported to the holders of
     New Century Home Equity Loan Trust Asset Backed Notes, Series 2004-2 which was made on
     June 29, 2004


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     December 27, 2004.


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
    caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly
    authorized.



                                       DEUTSCHE BANK NATIONAL TRUST COMPANY,
                                       IN ITS CAPACITY AS INDENTURE TRUSTEE
                                      UNDER THE SERVICING AGREEMENT ON BEHALF
                                      OF NEW CENTURY MORTGAGE SECURITIES, INC.,
                                      REGISTRANT



          Date:  Dec 28, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              December 27, 2004.



New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

				External Parties					Table of Contents

												Page
				Seller								Page
				Seller					1. Certificate Payment Report					2
				NC Residual II Corp.					1. Certificate Payment Report					2
				NC Residual II Corp.					2. Collection Account Report					4
									2. Collection Account Report					4
									3. Credit Enhancement Report					6
									4. Collateral Report					7
				Certificate Insurer(s)					5. Delinquency Report					10
				Certificate Insurer(s)					5. Delinquency Report					10
									6. REO Report					14

									7. Foreclosure Report					15
									8. Prepayment Report					16
									9. Prepayment Detail Report					19
									9. Prepayment Detail Report					19
									10. Realized Loss Report					23
									11. Realized Loss Detail Report					26
				Servicer(s)					11. Realized Loss Detail Report					26
				Servicer(s)					12. Triggers and Adj. Cert. Report					27
				New Century Mortgage Corporation					12. Triggers and Adj. Cert. Report					27
				New Century Mortgage Corporation


				Underwriter(s)
				Morgan Stanley & Co. Inc


									Total Number of Pages					27
									Total Number of Pages

				Dates					Contacts

				Cut-Off Date:		September 01, 2004			Eiko Akiyama
				Close Date:		September 29, 2004			Administrator
				First Distribution Date:		October 25, 2004			(714) 247-6328

									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:		December 27, 2004
									Factor Information:			(800) 735-7777
				Record Date:		November 30, 2004			Factor Information:			(800) 735-7777
									Main Phone Number:			(714) 247-6000

						December 24, 2004
						December 24, 2004

									https://www.tss.db.com/invr






Page 1 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - TRUST FUND
					Prior											Current
	Class		Original		Principal					Total		Realized		Deferred		Principal
	Class		Original		Principal					Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance	Interest		Principal		Distribution		Loss		Interest		Balance


					(1)	(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1	FLT,STEP	$	980,178,000.00		964,509,943.16	2,134,514.09		10,869,472.76		13,003,986.85		0.00		0.00		953,640,470.40
A-1	FLT,STEP	$	980,178,000.00		964,509,943.16	2,134,514.09		10,869,472.76		13,003,986.85		0.00		0.00		953,640,470.40
A-2	FLT,STEP	$	245,045,000.00		241,127,977.80	541,935.13		2,717,373.73		3,259,308.86		0.00		0.00		238,410,604.07
A-3	FLT,STEP	$	322,746,000.00		316,739,848.42	700,962.88		5,444,290.18		6,145,253.06		0.00		0.00		311,295,558.24
A-4	FLT,STEP	$	255,582,000.00		246,804,312.40	495,185.43		7,956,555.50		8,451,740.93		0.00		0.00		238,847,756.90
A-5	FLT,STEP	$	116,095,000.00		116,095,000.00	252,925.86		0.00		252,925.86		0.00		0.00		116,095,000.00
A-6	FLT,STEP	$	100,000,000.00		100,000,000.00	233,361.11		0.00		233,361.11		0.00		0.00		100,000,000.00
M-1	MEZ,FLT	$	73,329,000.00		73,329,000.00	176,804.37		0.00		176,804.37		0.00		0.00		73,329,000.00
M-2	MEZ,FLT	$	73,329,000.00		73,329,000.00	178,698.70		0.00		178,698.70		0.00		0.00		73,329,000.00
M-3	MEZ,FLT	$	42,257,000.00		42,257,000.00	105,161.24		0.00		105,161.24		0.00		0.00		42,257,000.00
M-4	MEZ,FLT	$	43,500,000.00		43,500,000.00	120,990.42		0.00		120,990.42		0.00		0.00		43,500,000.00
M-5	MEZ,FLT	$	37,285,000.00		37,285,000.00	106,914.74		0.00		106,914.74		0.00		0.00		37,285,000.00
M-6	MEZ,FLT	$	34,800,000.00		34,800,000.00	104,284.00		0.00		104,284.00		0.00		0.00		34,800,000.00
M-7	MEZ,FLT	$	28,585,000.00		28,585,000.00	97,967.15		0.00		97,967.15		0.00		0.00		28,585,000.00
M-8	MEZ,FLT	$	24,858,000.00		24,858,000.00	88,404.72		0.00		88,404.72		0.00		0.00		24,858,000.00
M-9	MEZ,FLT	$	24,858,000.00		24,858,000.00	118,372.42		0.00		118,372.42		0.00		0.00		24,858,000.00
TRUST	RES	$	0.00		0.00	8,248,875.13		0.00		8,248,875.13		0.00		0.00		0.00


Total			2,402,447,000.00		2,368,078,081.78	13,705,357.39		26,987,692.17		40,693,049.56		0.00		0.00		2,341,090,389.61
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
								Orig. Principal		Prior							Current
								Orig. Principal		Prior							Current
	Period		Period					(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method	Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

								(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	11/26/04		12/26/04		A-Act/360	64352VHP9		980,178,000.00		984.015090		2.177680		11.089285		13.266965	972.925806
A-2	11/26/04		12/26/04		A-Act/360	64352VHQ7		245,045,000.00		984.015090		2.211574		11.089285		13.300858	972.925806
A-3	11/26/04		12/26/04		A-Act/360	64352VHR5		322,746,000.00		981.390469		2.171872		16.868653		19.040524	964.521817
A-4	11/26/04		12/26/04		A-Act/360	64352VHS3		255,582,000.00		965.656081		1.937482		31.131126		33.068608	934.524954
A-5	11/26/04		12/26/04		A-Act/360	64352VHT1		116,095,000.00		1,000.000000		2.178611		0.000000		2.178611	1,000.000000
A-6	11/26/04		12/26/04		A-Act/360	64352VHU8		100,000,000.00		1,000.000000		2.333611		0.000000		2.333611	1,000.000000
M-1	11/26/04		12/26/04		A-Act/360	64352VHV6		73,329,000.00		1,000.000000		2.411111		0.000000		2.411111	1,000.000000
M-2	11/26/04		12/26/04		A-Act/360	64352VHW4		73,329,000.00		1,000.000000		2.436944		0.000000		2.436944	1,000.000000
M-3	11/26/04		12/26/04		A-Act/360	64352VHX2		42,257,000.00		1,000.000000		2.488611		0.000000		2.488611	1,000.000000
M-4	11/26/04		12/26/04		A-Act/360	64352VHY0		43,500,000.00		1,000.000000		2.781389		0.000000		2.781389	1,000.000000
M-5	11/26/04		12/26/04		A-Act/360	64352VHZ7		37,285,000.00		1,000.000000		2.867500		0.000000		2.867500	1,000.000000
M-6	11/26/04		12/26/04		A-Act/360	64352VJA0		34,800,000.00		1,000.000000		2.996667		0.000000		2.996667	1,000.000000
M-7	11/26/04		12/26/04		A-Act/360	64352VJB8		28,585,000.00		1,000.000000		3.427222		0.000000		3.427222	1,000.000000
M-8	11/26/04		12/26/04		A-Act/360	64352VJC6		24,858,000.00		1,000.000000		3.556389		0.000000		3.556389	1,000.000000
M-9	11/26/04		12/26/04		A-Act/360	64352VJD4		24,858,000.00		1,000.000000		4.761945		0.000000		4.761945	1,000.000000
TRUST	11/26/04		12/26/04		F-Act/360	NC0403101		0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

Distribution to Date - TRUST FUND
																Current


	Original				Unscheduled	Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal	Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)	(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1	980,178,000.00		5,721,690.49		24,669,236.82	1,868,292.78		26,537,529.60		32,259,220.09		0.00		0.00		953,640,470.40
A-2	245,045,000.00		1,454,458.36		6,167,321.78	467,074.15		6,634,395.93		8,088,854.29		0.00		0.00		238,410,604.07
A-3	322,746,000.00		1,882,104.23		10,675,612.45	774,829.31		11,450,441.76		13,332,545.99		0.00		0.00		311,295,558.24
A-4	255,582,000.00		1,329,137.36		15,601,869.14	1,132,373.96		16,734,243.10		18,063,380.46		0.00		0.00		238,847,756.90
A-5	116,095,000.00		672,093.31		0.00	0.00		0.00		672,093.31		0.00		0.00		116,095,000.00
A-6	100,000,000.00		623,416.67		0.00	0.00		0.00		623,416.67		0.00		0.00		100,000,000.00
M-1	73,329,000.00		473,460.91		0.00	0.00		0.00		473,460.91		0.00		0.00		73,329,000.00
M-2	73,329,000.00		478,899.48		0.00	0.00		0.00		478,899.48		0.00		0.00		73,329,000.00
M-3	42,257,000.00		282,241.55		0.00	0.00		0.00		282,241.55		0.00		0.00		42,257,000.00
M-4	43,500,000.00		327,107.92		0.00	0.00		0.00		327,107.92		0.00		0.00		43,500,000.00
M-5	37,285,000.00		289,590.53		0.00	0.00		0.00		289,590.53		0.00		0.00		37,285,000.00
M-6	34,800,000.00		283,194.67		0.00	0.00		0.00		283,194.67		0.00		0.00		34,800,000.00
M-7	28,585,000.00		267,952.62		0.00	0.00		0.00		267,952.62		0.00		0.00		28,585,000.00
M-8	24,858,000.00		242,234.31		0.00	0.00		0.00		242,234.31		0.00		0.00		24,858,000.00
M-9	24,858,000.00		328,270.61		0.00	0.00		0.00		328,270.61		0.00		0.00		24,858,000.00
TRUST	0.00		26,342,958.91		0.00	0.00		0.00		26,342,958.91		0.00		0.00		0.00


Total	2,402,447,000.00		40,998,811.93		57,114,040.19	4,242,570.20		61,356,610.39		102,355,422.32		0.00		0.00		2,341,090,389.61


Interest Detail - TRUST FUND
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued	Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest	Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)	(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1	2.57000%		964,509,943.16		2,134,514.09	0.00		0.00		0.00		2,134,514.09		2,134,514.09		0.00
A-2	2.61000%		241,127,977.80		541,935.13	0.00		0.00		0.00		541,935.13		541,935.13		0.00
A-3	2.57000%		316,739,848.42		700,962.88	0.00		0.00		0.00		700,962.88		700,962.88		0.00
A-4	2.33000%		246,804,312.40		495,185.43	0.00		0.00		0.00		495,185.43		495,185.43		0.00
A-5	2.53000%		116,095,000.00		252,925.86	0.00		0.00		0.00		252,925.86		252,925.86		0.00
A-6	2.71000%		100,000,000.00		233,361.11	0.00		0.00		0.00		233,361.11		233,361.11		0.00
M-1	2.80000%		73,329,000.00		176,804.37	0.00		0.00		0.00		176,804.37		176,804.37		0.00
M-2	2.83000%		73,329,000.00		178,698.70	0.00		0.00		0.00		178,698.70		178,698.70		0.00
M-3	2.89000%		42,257,000.00		105,161.24	0.00		0.00		0.00		105,161.24		105,161.24		0.00
M-4	3.23000%		43,500,000.00		120,990.42	0.00		0.00		0.00		120,990.42		120,990.42		0.00
M-5	3.33000%		37,285,000.00		106,914.74	0.00		0.00		0.00		106,914.74		106,914.74		0.00
M-6	3.48000%		34,800,000.00		104,284.00	0.00		0.00		0.00		104,284.00		104,284.00		0.00
M-7	3.98000%		28,585,000.00		97,967.15	0.00		0.00		0.00		97,967.15		97,967.15		0.00
M-8	4.13000%		24,858,000.00		88,404.72	0.00		0.00		0.00		88,404.72		88,404.72		0.00
M-9	5.53000%		24,858,000.00		118,372.42	0.00		0.00		0.00		118,372.42		118,372.42		0.00
TRUST	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		8,248,875.13		0.00


Total			2,368,078,081.78		5,456,482.26	0.00		0.00		0.00		5,456,482.26		13,705,357.39		0.00



Page 3 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
									Group 2		Group 1		Total
Principal Collections									13,400,845.68		13,586,846.49		26,987,692.17
Principal Withrawals									0.00		0.00		0.00
Principal Other Accounts									0.00		0.00		0.00
TOTAL NET PRINCIPAL									13,400,845.68		13,586,846.49		26,987,692.17
Interest Collections									5,331,512.55		8,209,240.55		13,540,753.10
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Other Accounts													345,153.34
Interest Fees									-67,015.96		-113,533.09		-180,549.05
TOTAL NET INTEREST									5,264,496.59		8,095,707.45		13,705,357.39
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION									18,665,342.27		21,682,553.94		40,693,049.56



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										461,554.02		949,098.51		1,410,652.53
Curtailments										47,753.76		107,352.51		155,106.27
Prepayments In Full										12,891,537.90		12,530,395.47		25,421,933.37
Repurchased/Substitutions										0.00		0.00		0.00
Liquidations										0.00		0.00		0.00
Insurance Principal										0.00		0.00		0.00
Other Additional Principal										0.00		0.00		0.00
Delinquent Principal										-393,978.29		-775,912.33		-1,169,890.62
Realized Losses										-0.00		-0.00		-0.00
Advanced Principal										393,978.29		775,912.33		1,169,890.62
TOTAL PRINCIPAL COLLECTED										13,400,845.68		13,586,846.49		26,987,692.17


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
									Group 2		Group 1		Total
TOTAL PRINCIPAL OTHER ACCOUNTS									0.00		0.00		0.00





Page 4 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									5,666,696.23		8,718,155.42		14,384,851.65
Repurchased/Substitution Interest									0.00		0.00		0.00
Liquidation Interest									0.00		0.00		0.00
Insurance Interest									0.00		0.00		0.00
Other Additional Interest									0.00		0.00		0.00
Prepayment Interest Shortfalls									-39,595.71		-37,820.07		-77,415.78
Delinquent Interest									-4,752,031.75		-7,180,932.46		-11,932,964.21
Compensating Interest									39,595.71		37,820.07		77,415.78
Civil Relief Act Shortfalls									-0.00		-199.29		-199.29
Interest Advanced									4,416,848.07		6,672,216.88		11,089,064.95
TOTAL INTEREST COLLECTED									5,331,512.55		8,209,240.55		13,540,753.10


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
									Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS									0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
									Group 2		Group 1		Total
Prepayment Charges													345,153.34
TOTAL INTEREST OTHER ACCOUNTS													345,153.34



INTEREST - FEES
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									66,052.99		112,044.71		178,097.70
Trustee Fees									962.97		1,488.38		2,451.35
Owner Trustee Fee									0.00		0.00		0.00
California Tax Filing Fees									0.00		0.00		0.00
TOTAL INTEREST FEES									67,015.96		113,533.09		180,549.05




Page 5 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralized Amount													83,271,578.23
Overcollateralization Target Amount													83,271,578.23
Excess Overcollateralization Amount													0.00
Overcollateralization Deficiency Amount													0.00
Senior Enhancement Percentage													19.220000%



Page 6 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Collateral Report


COLLATERAL



										Group 2		Group 1		Total



*Loan Count:*


Original									4,071		9,167		13,238
Prior									4,017		9,071		13,088
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-48		-67		-115
Repurchases									-0		-0		-0
Liquidations									-0		-0		-0
Current									3,969		9,004		12,973
*Principal Balance:*


Original									977,751,915.09		1,507,966,837.89		2,485,718,752.98
Prior									962,968,007.02		1,488,381,652.99		2,451,349,660.01
Prefunding									0.00		0.00		0.00
Scheduled Principal									-461,554.02		-949,098.51		-1,410,652.53
Partial Prepayments									-47,753.76		-107,352.51		-155,106.27
Full Voluntary Prepayments									-12,891,537.90		-12,530,395.47		-25,421,933.37
Repurchases									-0.00		-0.00		-0.00
Liquidations									-0.00		-0.00		-0.00
Current									949,567,161.34		1,474,794,806.50		2,424,361,967.84





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									7.04946%		7.02567%		7.03503%
Weighted Average Coupon Prior									7.05723%		7.02827%		7.03966%
Weighted Average Coupon Current									7.06154%		7.02897%		7.04176%
Weighted Average Months to Maturity Original									354		352		353
Weighted Average Months to Maturity Prior									353		351		351
Weighted Average Months to Maturity Current									352		350		351
Weighted Avg Remaining Amortization Term Original									354		352		353
Weighted Avg Remaining Amortization Term Prior									353		351		351
Weighted Avg Remaining Amortization Term Current									352		350		351
Weighted Average Seasoning Original									0.00		0.00		0.00
Weighted Average Seasoning Prior									1.96		1.96		1.96
Weighted Average Seasoning Current									2.96		2.96		2.96









Page 8 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.40688%		5.44309%		5.42838%
Weighted Average Margin Prior									5.40874%		5.44312%		5.42915%
Weighted Average Margin Current									5.41007%		5.44353%		5.42995%
Weighted Average Max Rate Original									6.90182%		6.88175%		6.88990%
Weighted Average Max Rate Prior									6.90228%		6.87910%		6.88852%
Weighted Average Max Rate Current									6.89939%		6.87728%		6.88625%
Weighted Average Min Rate Original									6.90182%		6.88175%		6.88990%
Weighted Average Min Rate Prior									6.90228%		6.87910%		6.88852%
Weighted Average Min Rate Current									6.89939%		6.87728%		6.88625%
Weighted Average Cap Up Original									1.58450%		1.52746%		1.55064%
Weighted Average Cap Up Prior									1.58644%		1.53243%		1.55438%
Weighted Average Cap Up Current									1.58529%		1.53216%		1.55372%
Weighted Average Cap Down Original									1.58450%		1.52746%		1.55064%
Weighted Average Cap Down Prior									1.58644%		1.53243%		1.55438%
Weighted Average Cap Down Current									1.58529%		1.53216%		1.55372%




SERVICING FEES & ADVANCES

										Group 2		Group 1		Total




Current Servicing Fees									66,052.99		112,044.71		178,097.70
Delinquent Servicing Fees									335,183.68		508,083.16		843,266.84
TOTAL SERVICING FEES									401,236.68		620,127.88		1,021,364.56


Total Servicing Fees									401,236.68		620,127.88		1,021,364.56
Compensating Interest									-39,595.71		-37,820.07		-77,415.78
Delinquent Servicing Fees									-335,183.68		-508,083.16		-843,266.84
COLLECTED SERVICING FEES									26,457.29		74,224.65		100,681.94


Total Advanced Interest									4,416,848.07		6,672,216.88		11,089,064.95
Total Advanced Principal									393,978.29		775,912.33		1,169,890.62
Aggregate Advances with respect to this Distribution									4,810,826.36		7,448,129.21		12,258,955.57





ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)									39,595.71		37,820.07		77,415.78
Compensating Interest									-39,595.71		-37,820.07		-77,415.78
Net Prepayment Interest Shortfall (PPIS)									0.00		0.00		0.00




Page 9 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			19,314,803.44		90,987.77		0.00		19,405,791.21
			% Balance			0.80%		0.00%		0.00%		0.80%
			# Loans			120		1		0		121
			% # Loans			0.92%		0.01%		0.00%		0.93%
	FORECLOSURE		Balance		0.00	1,550,377.43		244,429.96		0.00		1,794,807.39
			% Balance		0.00%	0.06%		0.01%		0.00%		0.07%
			# Loans		0	7		1		0		8
			% # Loans		0.00%	0.05%		0.01%		0.00%		0.06%
	BANKRUPTCY		Balance		3,592,009.95	316,000.00		0.00		0.00		3,908,009.95
			% Balance		0.15%	0.01%		0.00%		0.00%		0.16%
			# Loans		26	1		0		0		27
			% # Loans		0.20%	0.01%		0.00%		0.00%		0.21%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		3,592,009.95	21,181,180.87		335,417.73		0.00		25,108,608.55
			% Balance		0.15%	0.87%		0.01%		0.00%		1.04%
			# Loans		26	128		2		0		156
			% # Loans		0.20%	0.99%		0.02%		0.00%		1.20%









Page 10 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			9,502,195.95		90,987.77		0.00		9,593,183.72
			% Balance			0.64%		0.01%		0.00%		0.65%
			# Loans			69		1		0		70
			% # Loans			0.77%		0.01%		0.00%		0.78%
	FORECLOSURE		Balance		0.00	1,215,032.35		0.00		0.00		1,215,032.35
			% Balance		0.00%	0.08%		0.00%		0.00%		0.08%
			# Loans		0	5		0		0		5
			% # Loans		0.00%	0.06%		0.00%		0.00%		0.06%
	BANKRUPTCY		Balance		2,163,222.00	316,000.00		0.00		0.00		2,479,222.00
			% Balance		0.15%	0.02%		0.00%		0.00%		0.17%
			# Loans		18	1		0		0		19
			% # Loans		0.20%	0.01%		0.00%		0.00%		0.21%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		2,163,222.00	11,033,228.30		90,987.77		0.00		13,287,438.07
			% Balance		0.15%	0.75%		0.01%		0.00%		0.90%
			# Loans		18	75		1		0		94
			% # Loans		0.20%	0.83%		0.01%		0.00%		1.04%










Page 11 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			9,812,607.49		0.00		0.00		9,812,607.49
			% Balance			1.03%		0.00%		0.00%		1.03%
			# Loans			51		0		0		51
			% # Loans			1.28%		0.00%		0.00%		1.28%
	FORECLOSURE		Balance		0.00	335,345.08		244,429.96		0.00		579,775.04
			% Balance		0.00%	0.04%		0.03%		0.00%		0.06%
			# Loans		0	2		1		0		3
			% # Loans		0.00%	0.05%		0.03%		0.00%		0.08%
	BANKRUPTCY		Balance		1,428,787.95	0.00		0.00		0.00		1,428,787.95
			% Balance		0.15%	0.00%		0.00%		0.00%		0.15%
			# Loans		8	0		0		0		8
			% # Loans		0.20%	0.00%		0.00%		0.00%		0.20%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		1,428,787.95	10,147,952.57		244,429.96		0.00		11,821,170.48
			% Balance		0.15%	1.07%		0.03%		0.00%		1.24%
			# Loans		8	53		1		0		62
			% # Loans		0.20%	1.34%		0.03%		0.00%		1.56%










Page 12 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

ADDITIONAL DELINQUENCY REPORTING


						# of Accounts			Principal Balance			% of Total

30-59 Days Delinquent							128		$21,181,180.87				0.87%

60-89 Days Delinquent							2		$335,417.73				0.01%

90 or more Days Delinquent							0		$0.00				0.00%

Aggregate							130		$21,516,598.60				0.89%

The above statistics include Mortgage Loans in foreclosure but exclude REO properties


						# of Accounts			Principal Balance			% of Total

Loans in foreclosure proceedings						8			$1,794,807.39				0.07%

Loans in bankruptcy proceedings							27		$3,908,009.95				0.16%

REO Properties						0			$0.00				0.00%


Delinquency

Category						Loan Count			Stated Balance			% of Total

0						12,843			$2,402,845,369.24				99.11%

30						121			$19,630,803.44				0.81%

60						1			$90,987.77				0.00%

90						0
90						0			$0.00				0.00%

FC						8			$1,794,807.39				0.07%

REO						0			$0.00				0.00%

Total						12,973			$2,424,361,967.84				100.00%

*The above amounts include Bankruptcies. Total Bankruptcies for the period were:

BK							27		$3,908,009.95				0.16%



Page 13 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
REO Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 14 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
1433287 1
1433287 1			117,000.00		116,993.87	01-Sep-2004		7.850%		CT - 90.00%		360		01-Oct-2004

1469306 1			285,000.00		285,000.00	01-Sep-2004		7.100%		NJ - 79.17%		360		01-Oct-2004
1502627 1			282,200.00		282,200.00	01-Sep-2004		6.100%		GA - 85.00%		360		01-Oct-2004
1610916 1			166,250.00		165,726.51	01-Sep-2004		7.250%		OH - 95.00%		360		01-Oct-2004
1691693 1			366,300.00		365,111.97	01-Sep-2004		7.100%		HI - 90.00%		360		01-Oct-2004
1705063 2			67,915.00		67,758.58	01-Sep-2004		8.800%		OK - 85.00%		360		01-Oct-2004
1715571 2			245,000.00		244,429.96	01-Aug-2004		8.750%		MN - 78.53%		360		01-Oct-2004
1754854 2			268,000.00		267,586.50	01-Sep-2004		10.700%		MI - 80.00%		360		01-Oct-2004


TOTAL			1,797,665.00		1,794,807.39



Page 15 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

										Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans									48		67		115
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									48		67		115
Curtailments Amount									47,753.76		107,352.51		155,106.27
Paid in Full Balance									12,891,537.90		12,530,395.47		25,421,933.37
Repurchased Loans Balance									0.00		0.00		0.00
Total Prepayment Amount									12,939,291.66		12,637,747.98		25,577,039.64

*Cumulative*


Number of Paid in Full Loans									102		163		265
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									102		163		265
Paid in Full Balance									26,660,729.46		30,081,323.77		56,742,053.23
Repurchased Loans Balance									0.00		0.00		0.00
Curtailments Amount									132,163.78		239,997.94		372,161.72
Total Prepayment Amount									26,792,893.24		30,321,321.71		57,114,214.95










Page 16 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

										Group 2		Group 1		Total



SMM									1.34%		0.85%		1.04%
3 Months Avg SMM									0.92%		0.68%		0.77%
12 Months Avg SMM									0.92%		0.68%		0.77%
Avg SMM Since Cut-off									0.92%		0.68%		0.77%


CPR									14.99%		9.73%		11.83%
3 Months Avg CPR									10.53%		7.81%		8.89%
12 Months Avg CPR									10.53%		7.81%		8.89%
Avg CPR Since Cut-off									10.53%		7.81%		8.89%


PSA									2,531.80%		1,644.27%		1,998.87%
3 Months Avg PSA Approximation									3,209.31%		2,382.71%		2,710.24%
12 Months Avg PSA Approximation									3,209.31%		2,382.71%		2,710.24%
Avg PSA Since Cut-off Approximation									3,209.32%		2,382.70%		2,710.25%










Page 17 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution






PREPAYMENT CALCULATION METHODOLOGY

	Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal)

	Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
	PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
	PSA Standard Prepayment Model: CPR/(0.002*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/(0.002*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, liquidations, and repurchases.
	Dates correspond to distribution dates.




Page 18 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

1417950 1			188,250.00		188,250.00		30-Nov-2004		4.950%		CA - 80.11%		Paid Off - 360		10/1/2004
1417950 1			188,250.00		188,250.00		30-Nov-2004		4.950%		CA - 80.11%		Paid Off - 360		10/1/2004
1427750 1			271,200.00		271,200.00		17-Nov-2004		6.350%		CA - 80.00%		Paid Off - 360		10/1/2004
1442890 2			400,500.00		400,500.00		02-Nov-2004		5.050%		CA - 82.58%		Paid Off - 360		10/1/2004
1449671 1			242,792.00		242,400.60		17-Nov-2004		7.100%		CA - 80.00%		Paid Off - 360		10/1/2004
1456464 1			38,000.00		37,669.44		19-Nov-2004		10.650%		WA - 20.00%		Paid Off - 240		10/1/2004
1461598 2			91,745.00		91,540.55		10-Nov-2004		11.650%		CA - 20.00%		Paid Off - 360		10/1/2004
1468377 1			170,000.00		170,000.00		01-Nov-2004		6.850%		CA - 75.56%		Paid Off - 360		10/1/2004
1469443 1			333,000.00		333,000.00		11-Nov-2004		6.400%		CA - 90.00%		Paid Off - 360		10/1/2004
1483223 1			204,000.00		204,000.00		29-Nov-2004		6.400%		MD - 80.00%		Paid Off - 360		10/1/2004
1489108 2			408,000.00		407,900.78		23-Nov-2004		5.700%		WA - 80.00%		Paid Off - 360		10/1/2004
1500077 1			225,000.00		225,000.00		23-Nov-2004		6.150%		CA - 68.18%		Paid Off - 360		10/1/2004
1520217 1			87,500.00		87,199.03		08-Nov-2004		6.800%		NY - 70.00%		Paid Off - 360		10/1/2004
1525232 1			386,400.00		386,400.00		02-Nov-2004		5.200%		HI - 80.00%		Paid Off - 360		10/1/2004
1532643 1			148,000.00		147,406.99		15-Nov-2004		7.175%		CA - 82.22%		Paid Off - 360		10/1/2004
1552005 1			155,000.00		155,000.00		23-Nov-2004		5.800%		CA - 73.81%		Paid Off - 360		10/1/2004
1564498 1			90,400.00		90,377.75		09-Nov-2004		5.850%		ID - 80.00%		Paid Off - 360		10/1/2004
1570977 1			158,400.00		158,400.00		08-Nov-2004		6.600%		IL - 80.00%		Paid Off - 360		10/1/2004
1572517 2			217,700.00		217,533.54		30-Nov-2004		10.700%		NJ - 57.44%		Paid Off - 360		10/1/2004
1581098 1			117,000.00		117,000.00		02-Nov-2004		5.625%		FL - 90.00%		Paid Off - 300		10/1/2004
1590478 2			76,000.00		75,873.45		18-Nov-2004		11.150%		CA - 20.00%		Paid Off - 360		10/1/2004
1590936 2			532,000.00		532,000.00		05-Nov-2004		5.600%		CA - 80.00%		Paid Off - 360		10/1/2004
1592893 2			345,600.00		345,600.00		05-Nov-2004		5.990%		CA - 80.00%		Paid Off - 360		10/1/2004
1596441 1			56,000.00		55,895.59		29-Nov-2004		11.250%		CA - 20.00%		Paid Off - 360		10/1/2004
1599485 1			47,000.00		46,772.49		24-Nov-2004		10.750%		CA - 20.00%		Paid Off - 240		10/1/2004
1604341 1			54,000.00		53,913.31		10-Nov-2004		11.100%		CA - 20.00%		Paid Off - 360		10/1/2004
1605861 2			368,000.00		368,000.00		05-Nov-2004		5.990%		CA - 76.35%		Paid Off - 360		10/1/2004
1607066 1			166,600.00		166,136.69		18-Nov-2004		6.025%		MA - 70.00%		Paid Off - 360		10/1/2004
1616719 1			38,600.00		38,365.39		17-Nov-2004		10.750%		GA - 20.00%		Paid Off - 240		10/1/2004
1621512 2			68,000.00		67,840.72		23-Nov-2004		11.350%		CA - 20.00%		Paid Off - 360		10/1/2004
1623840 2			71,312.00		71,205.44		04-Nov-2004		10.850%		CA - 20.00%		Paid Off - 360		10/1/2004
1629176 1			50,000.00		49,896.69		09-Nov-2004		10.400%		CO - 20.83%		Paid Off - 360		10/1/2004
1630880 1			221,250.00		220,645.52		12-Nov-2004		6.490%		CA - 75.00%		Paid Off - 360		10/1/2004
1635755 1			71,100.00		70,899.16		04-Nov-2004		7.800%		SC - 90.00%		Paid Off - 360		10/1/2004
1638437 1			213,750.00		213,574.52		09-Nov-2004		8.963%		IL - 95.00%		Paid Off - 360		10/1/2004
1645478 2			637,500.00		637,500.00		19-Nov-2004		4.875%		WA - 85.00%		Paid Off - 300		10/1/2004
1649979 1			275,000.00		275,000.00		01-Nov-2004		5.650%		CA - 84.62%		Paid Off - 360		10/1/2004
1655885 1			298,400.00		298,400.00		02-Nov-2004		4.875%		CA - 80.00%		Paid Off - 300		10/1/2004
1655885 1			298,400.00		298,400.00				4.875%		CA - 80.00%		Paid Off - 300



Page 19 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

1666717 1			268,000.00		268,000.00		16-Nov-2004		5.125%		CA - 80.00%		Paid Off - 300		10/1/2004
1666717 1			268,000.00		268,000.00		16-Nov-2004		5.125%		CA - 80.00%		Paid Off - 300		10/1/2004
1676781 1			99,000.00		98,908.69		30-Nov-2004		9.825%		IA - 100.00%		Paid Off - 360		10/1/2004
1682971 2			378,000.00		377,163.06		22-Nov-2004		8.990%		CA - 90.00%		Paid Off - 360		10/1/2004
1685008 2			575,000.00		573,306.73		04-Nov-2004		6.100%		CA - 48.94%		Paid Off - 360		10/1/2004
1685902 2			492,000.00		490,658.43		16-Nov-2004		6.500%		FL - 61.50%		Paid Off - 360		10/1/2004
1690808 1			207,400.00		207,400.00		08-Nov-2004		6.125%		CA - 85.00%		Paid Off - 300		10/1/2004
1692411 1			198,900.00		198,900.00		01-Nov-2004		5.125%		MI - 90.00%		Paid Off - 300		10/1/2004
1696071 2			341,250.00		340,570.58		10-Nov-2004		9.500%		CA - 75.00%		Paid Off - 360		10/1/2004
1696217 1			306,000.00		305,243.12		30-Nov-2004		7.000%		CA - 85.00%		Paid Off - 360		10/1/2004
1696873 1			199,750.00		199,409.79		23-Nov-2004		8.850%		CA - 85.00%		Paid Off - 360		10/1/2004
1699542 1			135,600.00		135,462.44		02-Nov-2004		9.375%		CA - 80.00%		Paid Off - 360		10/1/2004
1700384 1			233,150.00		232,744.61		02-Nov-2004		8.750%		NV - 89.99%		Paid Off - 360		10/1/2004
1704635 1			108,000.00		107,879.07		23-Nov-2004		8.900%		WA - 90.00%		Paid Off - 360		10/1/2004
1705645 1			105,400.00		105,179.83		18-Nov-2004		7.850%		VA - 85.00%		Paid Off - 360		10/1/2004
1715118 2			330,000.00		329,733.71		19-Nov-2004		10.450%		HI - 69.47%		Paid Off - 360		10/1/2004
1717043 2			471,200.00		471,058.79		11-Nov-2004		7.150%		CA - 80.00%		Paid Off - 360		10/1/2004
1717125 2			110,500.00		110,416.42		02-Nov-2004		10.750%		MD - 63.14%		Paid Off - 360		10/1/2004
1717354 1			290,000.00		289,580.97		02-Nov-2004		7.650%		CA - 73.14%		Paid Off - 360		10/1/2004
1718126 1			162,700.00		162,349.77		05-Nov-2004		7.700%		CA - 74.98%		Paid Off - 360		10/1/2004
1718173 1			153,000.00		152,614.05		22-Nov-2004		6.900%		NV - 85.00%		Paid Off - 360		10/1/2004
1721289 2			373,500.00		373,493.31		04-Nov-2004		5.625%		WA - 90.00%		Paid Off - 300		10/1/2004
1723436 1			256,000.00		255,544.81		16-Nov-2004		6.600%		WI - 80.00%		Paid Off - 360		10/1/2004
1727591 2			343,000.00		342,250.47		04-Nov-2004		7.625%		CA - 74.57%		Paid Off - 360		10/1/2004
1729195 2			135,000.00		134,778.03		29-Nov-2004		7.000%		IL - 90.00%		Paid Off - 360		10/1/2004
1729769 1			50,000.00		49,853.70		17-Nov-2004		7.300%		IN - 76.92%		Paid Off - 360		10/1/2004
1730613 1			315,000.00		314,549.40		16-Nov-2004		7.700%		CA - 90.00%		Paid Off - 360		10/1/2004
1732178 1			196,000.00		196,000.00		10-Nov-2004		7.550%		MI - 80.00%		Paid Off - 360		10/1/2004
1733145 2			616,250.00		615,359.57		22-Nov-2004		7.650%		CA - 85.00%		Paid Off - 360		10/1/2004
1734508 2			199,000.00		198,676.69		30-Nov-2004		8.400%		IL - 94.76%		Paid Off - 360		10/1/2004
1735936 2			95,000.00		94,877.18		05-Nov-2004		8.200%		RI - 27.94%		Paid Off - 360		10/1/2004
1738407 1			240,000.00		239,692.87		04-Nov-2004		8.250%		NY - 84.21%		Paid Off - 360		10/1/2004
1739529 2			357,000.00		356,115.36		30-Nov-2004		7.600%		CA - 85.00%		Paid Off - 360		10/1/2004
1739798 1			225,000.00		225,000.00		11-Nov-2004		5.125%		MI - 90.00%		Paid Off - 300		10/1/2004
1747205 2			126,000.00		125,796.23		15-Nov-2004		9.100%		WA - 90.00%		Paid Off - 360		10/1/2004
1748081 1			115,200.00		115,021.32		17-Nov-2004		9.300%		CT - 90.00%		Paid Off - 360		10/1/2004
1752195 2			303,000.00		302,500.83		02-Nov-2004		6.990%		MI - 78.50%		Paid Off - 360		10/1/2004
1754197 1			189,000.00		188,805.33		29-Nov-2004		9.300%		CA - 90.00%		Paid Off - 360		10/1/2004
1757858 2			275,250.00		274,708.91		02-Nov-2004		8.150%		MA - 75.00%		Paid Off - 360		10/1/2004
1757858 2			275,250.00		274,708.91				8.150%		MA - 75.00%		Paid Off - 360



Page 20 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

1758005 2			175,000.00		174,676.52		10-Nov-2004		6.400%		MD - 66.04%		Paid Off - 360		10/1/2004
1758005 2			175,000.00		174,676.52		10-Nov-2004		6.400%		MD - 66.04%		Paid Off - 360		10/1/2004
1758614 1			292,000.00		291,416.06		11-Nov-2004		5.990%		CA - 80.00%		Paid Off - 360		10/1/2004
1761950 1			250,000.00		249,588.95		11-Nov-2004		7.000%		CA - 55.56%		Paid Off - 360		10/1/2004
1762850 1			230,000.00		229,606.69		04-Nov-2004		6.800%		NJ - 88.46%		Paid Off - 360		10/1/2004
1762992 2			500,000.00		499,048.69		19-Nov-2004		6.250%		MI - 79.75%		Paid Off - 360		10/1/2004
1763600 2			105,000.00		104,860.95		02-Nov-2004		10.050%		NJ - 75.00%		Paid Off - 360		10/1/2004
1764436 2			60,000.00		59,850.71		19-Nov-2004		10.450%		IL - 60.00%		Paid Off - 360		10/1/2004
1765379 1			324,000.00		323,644.71		15-Nov-2004		9.000%		CA - 79.80%		Paid Off - 360		10/1/2004
1766190 1			195,000.00		194,659.95		30-Nov-2004		6.700%		NV - 67.24%		Paid Off - 360		10/1/2004
1766376 1			179,100.00		178,718.34		18-Nov-2004		7.750%		MN - 90.00%		Paid Off - 360		10/1/2004
1766409 2			54,500.00		54,377.91		22-Nov-2004		7.500%		MO - 70.78%		Paid Off - 360		10/1/2004
1767091 2			50,000.00		49,956.73		16-Nov-2004		10.125%		WA - 80.00%		Paid Off - 360		10/1/2004
1768605 1			150,300.00		149,992.32		22-Nov-2004		7.950%		NV - 90.00%		Paid Off - 360		10/1/2004
1769562 1			288,298.00		287,872.99		19-Nov-2004		7.550%		PA - 95.00%		Paid Off - 360		10/1/2004
1776970 1			240,000.00		239,613.10		29-Nov-2004		7.100%		AZ - 80.00%		Paid Off - 360		10/1/2004
1781096 1			178,200.00		177,886.21		30-Nov-2004		6.650%		CT - 90.00%		Paid Off - 360		10/1/2004
1782627 2			56,700.00		56,642.80		19-Nov-2004		9.400%		MI - 70.00%		Paid Off - 360		10/1/2004
1783002 1			146,000.00		145,786.92		24-Nov-2004		7.600%		WI - 80.00%		Paid Off - 360		10/1/2004
1783457 1			64,500.00		64,389.16		01-Nov-2004		6.775%		TX - 75.00%		Paid Off - 360		10/1/2004
1790016 2			97,500.00		97,385.63		16-Nov-2004		8.675%		AL - 65.00%		Paid Off - 360		10/1/2004
1790302 1			308,700.00		308,140.34		30-Nov-2004		6.500%		CA - 90.00%		Paid Off - 360		10/1/2004
1792840 1			77,500.00		77,436.78		02-Nov-2004		10.400%		OH - 100.00%		Paid Off - 360		10/1/2004
1793082 2			356,250.00		355,670.00		30-Nov-2004		7.050%		IL - 95.00%		Paid Off - 360		10/1/2004
1793683 2			172,000.00		171,790.85		17-Nov-2004		8.500%		RI - 80.00%		Paid Off - 360		10/1/2004
1800837 2			456,000.00		455,098.47		15-Nov-2004		6.050%		CA - 80.00%		Paid Off - 360		10/1/2004
1801517 2			189,000.00		188,864.57		04-Nov-2004		7.675%		MD - 72.69%		Paid Off - 360		11/1/2004
1806830 2			280,000.00		279,587.24		30-Nov-2004		7.550%		NV - 70.00%		Paid Off - 360		10/1/2004
1809341 2			234,000.00		233,758.97		17-Nov-2004		9.300%		NV - 90.00%		Paid Off - 360		10/1/2004
1809543 2			81,200.00		81,106.20		23-Nov-2004		8.750%		AZ - 70.00%		Paid Off - 360		10/1/2004
1810336 1			295,000.00		294,425.08		08-Nov-2004		6.125%		CA - 68.29%		Paid Off - 360		10/1/2004
1811010 2			57,000.00		56,939.40		19-Nov-2004		9.150%		MI - 60.00%		Paid Off - 360		10/1/2004
1813566 2			90,000.00		89,835.24		10-Nov-2004		6.450%		MA - 31.04%		Paid Off - 360		10/1/2004
1815765 2			560,000.00		559,198.94		16-Nov-2004		7.700%		MA - 80.00%		Paid Off - 360		10/1/2004
1819066 1			202,500.00		202,253.79		15-Nov-2004		8.500%		ME - 90.00%		Paid Off - 360		10/1/2004
1824127 2			342,000.00		341,538.58		10-Nov-2004		7.990%		CA - 90.00%		Paid Off - 360		10/1/2004
1831385 1			234,000.00		233,825.92		23-Nov-2004		7.488%		NJ - 90.00%		Paid Off - 360		11/1/2004
1000005318 1			204,000.00		#######		10-Nov-2004		8.500%		CA - 83.27%		Paid Off - 360		10/1/2004
1000006610 1			198,400.00		198,124.64		05-Nov-2004		7.850%		CA - 80.00%		Paid Off - 360		10/1/2004
1000006610 1			198,400.00		198,124.64				7.850%		CA - 80.00%		Paid Off - 360



Page 21 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

1000007548 2			254,691.00		254,390.72		18-Nov-2004		8.650%		FL - 90.00%		Paid Off - 360		10/1/2004
1000007548 2			254,691.00		254,390.72		18-Nov-2004		8.650%		FL - 90.00%		Paid Off - 360		10/1/2004
1000022969 1			128,510.00		128,318.64		17-Nov-2004		7.500%		FL - 80.00%		Paid Off - 360		10/1/2004


TOTAL			25,453,898.00		25,421,933.37
TOTAL


Page 22 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



										Group 2		Group 1		Total


*Current*
*Current*



Number of Loans Liquidated									0		0		0
Collateral Principal Realized Loss/(Gain) Amount									0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00

*Cumulative*
*Cumulative*



Number of Loans Liquidated									0		0		0
Collateral Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00










Page 23 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution


DEFAULT SPEEDS



										Group 2		Group 1		Total



MDR									0.00%		0.00%		0.00%
3 Months Avg MDR									0.00%		0.00%		0.00%
12 Months Avg MDR									0.00%		0.00%		0.00%
Avg MDR Since Cut-off									0.00%		0.00%		0.00%


CDR									0.00%		0.00%		0.00%
3 Months Avg CDR									0.00%		0.00%		0.00%
12 Months Avg CDR									0.00%		0.00%		0.00%
Avg CDR Since Cut-off									0.00%		0.00%		0.00%


SDA									0.00%		0.00%		0.00%
3 Months Avg SDA Approximation									0.00%		0.00%		0.00%
12 Months Avg SDA Approximation									0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation									0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period									0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off									0.00%		0.00%		0.00%












Page 24 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution





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 25 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Realized Loss Detail Report
Loan Number			Current		State &			Prior		Realized				Cumulative
														Cumulative
&		Loan	Note		LTV at	Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination	Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 26 of 27
New Century Home Equity Loan Trust 2004-3

Asset Backed Notes
Asset Backed Notes
2004-3

December 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
									Group 2		Group 1		Total
Has a Stepdown Date Occurred? (0=No,1=Yes)													0
Does a Trigger Event Exist - Either a) or b) Yes?													0
a) Does a Delinquency Trigger Event Exists (0=No,1=Yes)													0
b) Does a Loss Trigger Event Exists (0=No,1=Yes)													0
Does Sequential Trigger Event Exist? - (0=No,1=Yes)													0
Class A-4 Accelerated Amort. Event Exist? - (0=No,1=Yes)													0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current LIBOR Rate													2.180000%
Next LIBOR Rate													2.416880%






Page 27 of 27

NEW CENTURY HOME EQUITY LOAN TRUST, SERIES 2004-3 8-K