Please click here to locate the Notice of Initial Distribution and associated schedules related to the Initial Distribution made on or about December 15, 2010.

Please click here to locate the Notice of Second Distribution and associated schedules related to the Second Distribution made on or about May 31, 2011.

Notice to Holders of Allowed/Reserved Scheduled and Filed Claims

NOTICE OF THIRD INTERIM DISTRIBUTION PURSUANT TO ARTICLE 9.A OF THE MODIFIED SECOND AMENDED JOINT CHAPTER 11 PLAN OF LIQUIDATION DATED AS OF SEPTEMBER 30, 2009

PLEASE TAKE NOTICE that on November 20, 2009, the Bankruptcy Court for the District of Delaware (the “Court”) confirmed the Modified Second Amended Joint Chapter 11 Plan of Liquidation Dated as of September 30, 2009 (the “Modified Plan”).

PLEASE TAKE FURTHER NOTICE that on December 1, 2009, the Modified Plan became effective. Pursuant to section 1141(a) of the Bankruptcy Code2, the provisions of the Modified Plan are binding on all holders of Claims against the Debtors.

PLEASE TAKE FURTHER NOTICE that pursuant to Article 9.A of the Modified Plan, the Liquidating Trustee made an Initial Distribution to the Holders of Allowed Claims on or before December 31, 2010.

PLEASE TAKE FURTHER NOTICE that pursuant to Article 9.A of the Modified Plan, the Liquidating Trustee made a Second Interim Distribution to the Holders of Allowed Claims on or around May 31, 2011.

PLEASE TAKE FURTHER NOTICE that pursuant to Article 9.A of the Modified Plan, the Liquidating Trustee intends to make a Third Interim Distribution to the Holders of Allowed Claims on or about January 4, 2013. In order to allow a creditor to determine (i) whether it qualifies as a Holder of an Allowed Claim, (ii) the current amount of such Claim, and (iii) the amount of the Third Interim Distribution on such Claim, the Liquidating Trustee has created this website that contains the following four (4) PDF schedules of all outstanding Allowed and Disputed Claims:

(1) PDF Schedule I of outstanding Allowed and Disputed Unsecured Claims sorted alphabetically by creditor name; and

(2) PDF Schedule II of outstanding Allowed and Disputed Unsecured Claims sorted numerically by proof of claim number or schedule identification number as designated in the claims register maintained by the Trust's claims and noticing agent; and

(3) PDF Schedule III of outstanding Allowed and Disputed Secured, Administrative and Priority Claims sorted alphabetically by creditor name; and

(4) PDF Schedule IV of outstanding Allowed and Disputed Secured, Administrative and Priroty Claims sorted numerically by proof of claim number or schedule identification number as designated in the claims register maintained by the Trust's claims and noticing agent.

****PLEASE NOTE THAT IF A CLAIM YOU BELIEVE TO EXIST IS NOT LISTED ON THE ATTACHED PDF SCHEDULES, SUCH CLAIM WILL NOT BE ENTITLED TO ANY DISTRIBUTION FROM THESE ESTATES. IT IS POSSIBLE THAT SUCH CLAIM HAS BEEN DISALLOWED AND/OR EXPUNGED BY ORDER OF THE COURT.

In accordance with the terms of the Modified Plan, the Liquidating Trustee will maintain all appropriate reserves for any disputed claim unless the parties have agreed to different treatment or the Court has entered an order establishing a specific reserve for that particular claim. If any creditor or other party in interest has questions or concerns, please direct your inquiry to the Liquidating Trustee at: LiquidatingTrust@ncen.com.

Instructions For Determining A Distribution Using the Schedules:

Secured, Administrative or Priority Claim

  1. If you are a Holder of a Secured, Administrative or Priority Claim, locate your claim either by clicking on Schedule III to search by Claimant name or by clicking on Schedule IV to search by claim number or schedule identification number.
  2. If your Secured, Administrative or Priority Claim has an amount listed under the Allowed Amount column then your claim is currently an Allowed Claim in that amount and will be receiving a distribution equal to 100% of the Allowed Amount in full satisfaction of such Claim.3
  3. If your Secured, Administrative or Priority Claim has an amount listed under the Amount Subject to Resolution column then your Claim is a Disputed Claim in that amount and will not be getting a distribution at this time, if at all, subject to final resolution of the Claim. The Trustee reserves the right to object to Disputed Claims and/or settle the disputed matter with the Claimant.

Unsecured Claim

  1. If you are a Holder of an Unsecured Claim, locate your claim either by clicking on Schedule I to search by Claimant name or by clicking on Schedule II to search by claim number or schedule identification number.
  2. The two columns falling under the heading Claim Amount list the amount of each claim without any adjustments. The two columns falling under the heading Claim for Distribution Purposes list the amount of each claim after any adjustments to such claim pursuant to the Multi-Debtor Claim Protocol of the Plan.
  3. If your Claim has an amount listed under the Allowed Amount column then your claim is currently an Allowed Claim in that amount. If your Claim has an amount listed under the Amount Subject to Resolution column then your Claim is a Disputed Claim in that amount and will not be getting an initial distribution at this time, if at all, subject to final resolution of the Claim. The Trustee reserves the right to object to Disputed Claims and/or settle the disputed matter with the Claimant.
  4. Each Claim has been assigned a Plan Class in accordance with the provisions of the Plan as well as a Multi-Debtor Claim Protocol percentage to indicate whether such claim is adjusted pursuant to the protocol for distribution purposes. Article 6 of the Plan setting forth the Multi-Debtor Claim Protocol is summarized below for ease of reference.
  5. PDF Schedule V is an Unsecured Creditor Recovery Summary that will allow a creditor to determine its actual distribution based on its Plan Class and the Allowed Amount of its Claim. This schedule lists recovery percentages for (i) the Initial Distribution, (ii) the Second Interim Distribution, (iii) the Third Interim Distribution, and (iv) a cumulative distribution based on the three (3) interim distributions combined. Simply locate your Plan Class and Allowed Amount of the Claim for Distribution Purposes. Then, multiply the Allowed Amount of the Claim for Distribution Purposes by the recovery percentages assigned to your Plan Class on Schedule V. If you have an Allowed Claim that was allowed at the time of the Interim Distribution, you should have received an interim distribution in December 2010 based on the recovery percentages listed under the 1st Distribution column. If you have an Allowed Claim that was allowed at the time of the Second Interim Distribution, you should have received an second interim distribution in May 2011 based on the recovery percentages listed under the 2nd Distribution column. As part of the Third Interim Distribution, you will receive a third distribution based on the recovery percentages listed under the 3rd Distribution column. If, however, you have an Allowed Claim that was not allowed at the time of the Initial Distribution or the Second Interim Distribution, you should not have received an interim distribution either in December 2010 or May 2011. If you have an Allowed Claim that did not receive an interim distribution to date, as part of the Third Interim Distribution, you will now receive a distribution based on the recovery percentages listed under the Cumulative Distribution column.3
  6. Pursuant to Article 9(f) of the Plan, any distribution that is $50.00 or less will be held by the Liquidating Trust for the benefit of the Holder of the Allowed Claim entitled to such distribution. Upon future distributions, when the aggregate amount of distributions held by the Liquidating Trust for the benefit of the Holder of the Allowed Claim entitled to such distribution exceeds $50.00, the Liquidating Trust will distribute the aggregate distributions to such Holder of the Allowed Claim. If, at the time that the final distribution under the Plan is to be made, such distributions held by the Liquidating Trust for the benefit of a Holder of an Allowed Claim total less than $50.00, such funds shall not be distributed to such Holder, but rather, shall vest in the Liquidating Trust and be redistributed to other Holders of Allowed Claims in accordance with the terms of the Plan.

ARTICLE 6

THE MULTI-DEBTOR CLAIM PROTOCOL FOR TREATMENT OF CLAIMS AGAINST MULTIPLE DEBTORS

  1. Allowed Unsecured Claims for Which More than One Holding Company Debtor Is Jointly and/or Severally Liable. Where a Creditor holds Allowed Holding Company Debtor Unsecured Claims for which more than one Holding Company Debtor is jointly and/or severally liable, such Creditor shall be (i) assigned a Determined Distribution Amount on account of one of its Allowed Holding Company Debtor Unsecured Claims in the amount of the highest Determined Distribution Amount provided for in the Classes in which the Creditor’s Allowed Holding Company Debtor Unsecured Claims are classified and (ii) assigned a Determined Distribution Amount of 0% of the amount of all of its other Allowed Holding Company Debtor Unsecured Claims.
  2. Allowed Unsecured Claims for Which More than One Operating Debtor Is Jointly and/or Severally Liable. Where a Creditor holds Allowed Operating Debtor Unsecured Claims for which more than one Operating Debtor is jointly and/or severally liable, such Creditor shall be (i) assigned a Determined Distribution Amount on account of one its Allowed Operating Debtor Unsecured Claims in the amount of the highest Determined Distribution Amount provided for in the Classes in which the Creditor’s Allowed Operating Debtor Unsecured Claims are classified and (ii) assigned a Determined Distribution Amount of 0% of the amount of all of its other Allowed Operating Debtor Unsecured Claims; provided however, that where a Creditor holds Allowed Operating Debtor Unsecured Claims, other than Allowed Class OP3a Claims, Allowed OP6a Claims, and Allowed Class OP9a Claims, for which each of NCMC, NC Capital, and Home123 are jointly and/or severally liable, such Creditor shall be (i) assigned a Determined Distribution Amount on account of its Allowed Unsecured Claim against NCMC of 130% of the amount of such Allowed Unsecured Claim and (ii) assigned a Determined Distribution Amount of 0% of the amount of all of its other Allowed Operating Debtor Unsecured Claims.
  3. Allowed Claims Against NC Credit Corporation. Where a Creditor holds an Allowed Claim against NC Credit Corporation and Allowed Claims against any other Debtor, any Allowed Claims against NC Credit Corporation shall be allowed in the full amount of such claim and shall not be affected by application of the Multi-Debtor Claim Protocol.
  4. Separate Application to Debtor Groups. The adjustment of Determined Distribution Amounts of a particular Creditor’s Allowed Unsecured Claims against Debtors in one Debtor Group pursuant to Articles 6.A and 6.B of this Plan does not affect the Determined Distribution Amounts of such Creditor’s Allowed Unsecured Claims, if any, against Debtors in another Debtor Group.

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1The Debtors are the following entities: New Century Financial Corporation (f/k/a New Century REIT, Inc.), a Maryland corporation; New Century TRS Holdings, Inc. (f/k/a new Century Financial Corporation), a Delaware corporation; New Century Mortgage Corporation (f/k/a JBE Mortgage) (d/b/a NCMC Mortgage Corporate, New Century Corporation, New Century Mortgage Ventures, LLC), a California corporation; NC Capital Corporation, a California corporation; Home123 Corporation (f/k/a The Anyloan Corporation, 1800anyloan.com, Anyloan.com), a California corporation; New Century Credit Corporation (f/k/a Worth Funding Incorporated), a California corporation; NC Asset Holding, L.P. (f/k/a NC Residual II Corporation), a Delaware limited partnership; NC Residual III Corporation, a Delaware corporation; NC Residual IV Corporation, a Delaware corporation; New Century R.E.O. Corp., a California corporation; New Century R.E.O. II Corp., a California corporation; New Century R.E.O. III Corp., a California corporation; New Century Mortgage Ventures, LLC (d/b/a Summit Resort Lending, Total Mortgage Resource, Select Mortgage Group, Monticello Mortgage Services, Ad Astra Mortgage, Midwest Home Mortgage, TRATS Financial Services, Elite Financial Services, Buyers Advantage Mortgage), a Delaware limited liability company; NC Deltex, LLC, a Delaware limited liability company; NCoral, L.P., a Delaware limited partnership; and New Century Warehouse Corporation, a California corporation.

2All capitalized terms not defined herein shall have the meaning ascribed to them in the Modified Plan.

3If your claim is in respect to compensation, any distribution is deemed gross pay which is subject to applicable withholding and any distribution to a creditor will be for the net amount.