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The following is an excerpt from a S-3 SEC Filing, filed by NEW CENTURY MORTGAGE SECURITIES INC on 1/20/2006.
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NEW CENTURY MORTGAGE SECURITIES INC - S-3 - 20060120 - EXPLANATORY_NOTE

EXPLANATORY NOTE

This Registration Statement consists of (i) a basic prospectus, (ii) an illustrative form of prospectus supplement for use in an offering of Mortgage Pass-Through Certificates consisting of Senior/Subordinate Certificates ("Version 1"), (iii) an illustrative form of prospectus supplement for use in an offering a series of Mortgage Pass-Through Certificates with various combinations of Credit Support ("Version 2"), and (iv) an illustrative form of prospectus supplement for use in an offering of Mortgage-Backed Notes ("Version 3").

Contents of Registration Statement

Forms of Prospectus Supplement:

Version 1: Form of Prospectus Supplement relating to a typical Senior/Subordinate Series...................................................

Version 2: Form of Prospectus Supplement relating to an offering of Mortgage-Backed Notes....................................................

Basic Prospectus............................................................


Prospectus Supplement dated _________ (to Prospectus dated _________________)

$[_____________] (APPROXIMATE)

NEW CENTURY HOME EQUITY LOAN TRUST, SERIES 200__-__
ISSUING ENTITY

ASSET BACKED PASS-THROUGH CERTIFICATES

NEW CENTURY MORTGAGE SECURITIES, INC.
DEPOSITOR

[_______]
SERVICER

OFFERED CERTIFICATES

The trust created for the Series 200 - certificates will hold a pool of one- to four-family, residential, adjustable-rate and fixed-rate, first lien and second lien subprime mortgage loans. The trust will issue [ ] classes of offered certificates. You can find a list of these classes, together with their initial certificate principal balances and pass-through rates, on Page S-[ ] of this prospectus supplement. Credit enhancement for the offered certificates will be provided in the form of excess interest, subordination, overcollateralization and an interest rate swap agreement.

BROKERAGE PARTNERS