EXHIBIT 25.3
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b) (2)
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
NOT APPLICABLE 94-1347393
(Jurisdiction of incorporation or (I.R.S. Employer
organization if not a U.S. national Identification No.)
bank)
420 MONTGOMERY STREET
SAN FRANCISCO, CA 94163
(Address of principal executive offices) (Zip code)
WELLS FARGO & COMPANY
LAW DEPARTMENT, TRUST SECTION
MAC N9305-172
SIXTH AND MARQUETTE, 17TH FLOOR
MINNEAPOLIS, MN 55479
(agent for services)
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NEW CENTURY FINANCIAL CORPORATION
(Exact name of obligor as specified in its charter)
DELAWARE 13-3989553
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
11201 N. TATUM BLVD., SUITE 110 85028
PHOENIX, ARIZONA
(Address of principal executive offices) (Zip code)
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9.75% SENIOR NOTES DUE 2013
(Title of the indenture securities)
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Item 1. General Information. Furnish the following information as to the
trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
Comptroller of the Currency,
Treasury Department
Washington, D.C. 20230
Federal Deposit Insurance Corporation
Washington, D.C. 20429
Federal Reserve Bank of San Francisco
San Francisco, CA 94120
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with Obligor. If the obligor is an affiliate of the
trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is
not in default as provided under Item 13.
Item 15. Foreign Trustee. Not applicable.
Item 16. List of Exhibits. List below all exhibits filed as a part of
this Statement of Eligibility. Wells Fargo
Bank incorporates by reference into this
Form T-1 exhibits attached hereto.
Exhibit 1. A copy of the Articles of Association of the trustee
now in effect.*
Exhibit 2. A copy of the Comptroller of the Currency Certificate
of Corporate Existence for Wells Fargo Bank, National
Association, dated November 28, 2001. *
Exhibit 3. A copy of the authorization of the trustee to
exercise corporate trust powers. A copy of the
Comptroller of the Currency Certificate of Corporate
Existence (with Fiduciary Powers) for Wells Fargo
Bank, National Association, dated November 28, 2001.
*
Exhibit 4. Copy of By-laws of the trustee as now in effect. *
Exhibit 5. Not applicable.
Exhibit 6. The consents of United States institutional trustees
required by Section 321(b) of the Act.
Exhibit 7. Attached is a copy of the latest report of
condition of the trustee published pursuant to
law or the requirements of its supervising or
examining authority.
Exhibit 8. Not applicable.
Exhibit 9. Not applicable.
* Incorporated by reference to exhibit number 25 filed with registration
statement number 333-87398.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, Wells Fargo Bank, National Association, a national banking association
organized and existing under the laws of the United States of America, has duly
caused this statement of eligibility to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of Los Angeles and State
of California on the day of 5th of November, 2003.
WELLS FARGO BANK, NATIONAL ASSOCIATION
/s/ Jeanie Mar
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Name: Jeanie Mar
Title: Vice President
EXHIBIT 6
November 5, 2003
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as
amended, the undersigned hereby consents that reports of examination of the
undersigned made by Federal, State, Territorial, or District authorities
authorized to make such examination may be furnished by such authorities to the
Securities and Exchange Commission upon its request thereof.
Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION
_______________________________________
Jeanie Mar
Vice President
EXHIBIT 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 420 Montgomery Street, San Francisco, CA 94163
And Foreign and Domestic Subsidiaries,
at the close of business June 30, 2002, filed in accordance with 12 U.S.C.
Section 161 for National Banks.
Dollar Amounts
In Millions
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ASSETS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin $ 7,809
Interest-bearing balances 4,882
Securities:
Held-to-maturity securities 0
Available-for-sale securities 6,513
Federal funds sold and securities purchased under agreements to resell:
Federal funds sold in domestic offices 1,584
Securities purchased under agreements to resell 4
Loans and lease financing receivables:
Loans and leases held for sale 10,165
Loans and leases, net of unearned income 90,478
LESS: Allowance for loan and lease losses 1,365
Loans and leases, net of unearned income and allowance 89,113
Trading Assets 4,945
Premises and fixed assets (including capitalized leases) 1,610
Other real estate owned 79
Investments in unconsolidated subsidiaries and associated companies 245
Customers' liability to this bank on acceptances outstanding 32
Intangible assets
Goodwill 5,356
Other intangible assets 6,626
Other assets 8,724
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Total assets $147,687
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LIABILITIES
Deposits:
In domestic offices $ 78,584
Noninterest-bearing 25,870
Interest-bearing 52,714
In foreign offices, Edge and Agreement subsidiaries, and IBFs 7,441
Noninterest-bearing
Interest-bearing 7,438
Federal funds purchased and securities sold under agreements to repurchase:
Federal funds purchased in domestic offices 22,760
Securities sold under agreements to repurchase 429
Dollar Amounts
In Millions
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Trading liabilities 4,175
Other borrowed money
(includes mortgage indebtedness and obligations under capitalized leases) 5,514
Bank's liability on acceptances executed and outstanding 32
Subordinated notes and debentures 4,884
Other liabilities 7,124
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Total liabilities $130,943
Minority interest in consolidated subsidiaries 31
EQUITY CAPITAL
Perpetual preferred stock and related surplus 0
Common stock 520
Surplus (exclude all surplus related to preferred stock) 13,232
Retained earnings 2,693
Accumulated other comprehensive income 268
Other equity capital components 0
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Total equity capital 16,713
Total liabilities, minority interest, and equity capital $147,687
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I, Karen B. Martin, Vice President of the above-named bank do hereby declare
that this Report of Condition has been prepared in conformance with the
instructions issued by the appropriate Federal regulatory authority and is true
to the best of my knowledge and belief
Karen B. Martin
Vice President
We, the undersigned directors, attest to the correctness of this Report of
Condition and declare that it has been examined by us and to the best of our
knowledge and belief has been prepared in conformance with the instructions
issued by the appropriate Federal regulatory authority and is true and correct.
Carrie L. Tolstedt
Howard Atkins Directors
Clyde W. Ostler