UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): April 5, 2002
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NEW CENTURY FINANCIAL CORPORATION
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(Exact Name of Issuer as Specified in its Charter)
Delaware 000-22633 33-0683629
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(State or Other (Commission File (IRS
Jurisdiction Number) Employer Identification
of Incorporation) Number)
18400 Von Karman Avenue, Suite 1000, Irvine, California 92612
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (949) 440-7030
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ITEM 5. OTHER EVENTS
We are filing this report on Form 8-K to disclose the following recent
developments, and to incorporate such disclosure into our Registration Statement
on Form S-3 (Registration No. 333-66694) and our Registration Statement on Form
S-3 (Registration Statement No. 333-83984):
(a) Increases to Credit Agreements. On March 15, 2002, we amended our
aggregation facility with CDC Mortgage Capital to increase the maximum amount
from $200 million to $400 million. On March 25, 2002 we amended our U.S. Bank
warehouse credit agreement to increase the amount from $300 million to $410
million. A copy of the amendment with CDC Mortgage Capital and a copy of the
amendment with U.S. Bank are filed as Exhibit 99.1 and Exhibit 99.2,
respectively, to this Current Report and are incorporated herein by reference.
ITEM 7. EXHIBITS
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
Exhibit No. Description
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99.1 Amendment No. 4 to Master Repurchase
Agreement, dated as of March 15, 2002, by
and among New Century Mortgage Corporation,
NC Capital Corporation and CDC Mortgage
Capital, Inc.
99.2 Second Amendment to Fifth Amended and
Restated Credit Agreement, dated as of
March 25, 2002, by and among
2
New Century Mortgage Corporation, NC
Capital Corporation and U.S. Bank National
Association.
3
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 hereunto duly authorized.
NEW CENTURY FINANCIAL CORPORATION
April 5, 2002 /s/ Brad A. Morrice
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Brad A. Morrice
Vice Chairman, President and Chief
Operating Officer