

                                    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 April 21, 2004,
         providing for the issuance of New Century Home Equity Loan Trust Asset
                               Backed Notes Series 2004-1)
                    (Exact name of registrant as specified in charter)



                                       DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-110474-01                             33-0852169
          (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 2004-1 which was made on
     April 21, 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 27, 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 2004-1
	Asset Backed Notes


	December 27, 2004 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Prepayment Report				15
			9.	Prepayment Detail Report				18
			10.	Realized Loss Report				23
			11.	Realized Loss Detail Report				26
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
			13.	Other Related Information				28
			14.	Additional Certificate Report				29



				Total Number of Pages				29



			CONTACTS

				Administrator: Eiko Akiyama
				Direct Phone Number: (714)247-6328
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705

				Web Site: https://www.tss.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000



ISSUANCE INFORMATION

	Seller:		NC Residual II Corp.					Cut-Off Date: April 1, 2004
	Certificate Insurer(s):							Closing Date: April 21, 2004
								First Payment Date: May 25, 2004
	Servicer(s):		New Century Mortgage Corporation


								Distribution Date: December 27, 2004
	Underwriter(s):		Banc of America Securities LLC					Record Date: December 24, 2004
			Bank of America NT&SA					November 30, 2004






						Page 1 of 29					© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Certificate Payment Report for December 27, 2004 Distribution


	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)

A-1	STEP, FLT,	603,942,000.00			520,087,050.67	1,092,760.68	25,398,035.22	26,490,795.90	-	-	494,689,015.44
A-2	STEP, FLT,	319,358,000.00			256,734,174.45	519,530.13	17,136,447.48	17,655,977.61	-	-	239,597,726.97
A-3	STEP, FLT,	85,345,000.00			85,345,000.00	196,222.38	-	196,222.38	-	-	85,345,000.00
A-4	STEP, FLT,	200,000,000.00			169,051,958.82	361,019.85	8,468,653.55	8,829,673.40	-	-	160,583,305.27
M-1	MEZ,STEP,FL	103,381,000.00			103,381,000.00	246,592.40	-	246,592.40	-	-	103,381,000.00
M-2	MEZ,STEP,FL	79,817,000.00			79,817,000.00	242,621.51	-	242,621.51	-	-	79,817,000.00
M-3	MEZ,STEP,FL	26,605,000.00			26,605,000.00	85,453.78	-	85,453.78	-	-	26,605,000.00
M-4	MEZ,STEP,FL	22,805,000.00			22,805,000.00	86,012.86	-	86,012.86	-	-	22,805,000.00
M-5	MEZ,STEP,FL	18,243,000.00			18,243,000.00	72,733.83	-	72,733.83	-	-	18,243,000.00
M-6	MEZ,STEP,FL	19,764,000.00			19,764,000.00	94,115.07	-	94,115.07	-	-	19,764,000.00
Cert	R	-			-	5,017,331.89	-	5,017,331.89	-	-	-


Total		1,479,260,000.00			1,301,833,183.93	8,014,394.38	51,003,136.25	59,017,530.63	-	-	1,250,830,047.68


	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	11/26/04	12/26/04		A-Act/360	64352VFL0	603,942,000.00	861.153970	1.809380	42.053765	43.863146	819.100204
A-2	11/26/04	12/26/04		A-Act/360	64352VFM8	319,358,000.00	803.907134	1.626795	53.659052	55.285847	750.248082
A-3	11/26/04	12/26/04		A-Act/360	64352VFN6	85,345,000.00	1,000.000000	2.299167	-	2.299167	1,000.000000
A-4	11/26/04	12/26/04		A-Act/360	64352VFP1	200,000,000.00	845.259794	1.805099	42.343268	44.148367	802.916526
M-1	11/26/04	12/26/04		A-Act/360	64352VFQ9	103,381,000.00	1,000.000000	2.385278	-	2.385278	1,000.000000
M-2	11/26/04	12/26/04		A-Act/360	64352VFR7	79,817,000.00	1,000.000000	3.039722	-	3.039722	1,000.000000
M-3	11/26/04	12/26/04		A-Act/360	64352VFS5	26,605,000.00	1,000.000000	3.211944	-	3.211944	1,000.000000
M-4	11/26/04	12/26/04		A-Act/360	64352VFT3	22,805,000.00	1,000.000000	3.771667	-	3.771667	1,000.000000
M-5	11/26/04	12/26/04		A-Act/360	64352VFU0	18,243,000.00	1,000.000000	3.986945	-	3.986945	1,000.000000
M-6	11/26/04	12/26/04		A-Act/360	64352VFV8	19,764,000.00	1,000.000000	4.761944	-	4.761944	1,000.000000
Cert				A-30/360		-	-	-	-	-	-


							Page 2 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Certificate Payment Report for December 27, 2004 Distribution


	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)

A-1	603,942,000.00		7,185,373.91		104,548,368.73	4,704,615.83	109,252,984.56	116,438,358.47	-	-	494,689,015.44
A-2	319,358,000.00		3,512,702.52		76,830,515.87	2,929,757.17	79,760,273.03	83,272,975.55	-	-	239,597,726.97
A-3	85,345,000.00		1,213,878.53		-	-	-	1,213,878.53	-	-	85,345,000.00
A-4	200,000,000.00		2,412,741.49		37,968,839.31	1,447,855.42	39,416,694.73	41,829,436.22	-	-	160,583,305.27
M-1	103,381,000.00		1,542,200.43		0.00	-	-	1,542,200.43	-	-	103,381,000.00
M-2	79,817,000.00		1,611,937.58		-	-	-	1,611,937.58	-	-	79,817,000.00
M-3	26,605,000.00		574,250.45		-	-	-	574,250.45	-	-	26,605,000.00
M-4	22,805,000.00		595,169.34		-	-	-	595,169.34	-	-	22,805,000.00
M-5	18,243,000.00		507,781.25		-	-	-	507,781.25	-	-	18,243,000.00
M-6	19,764,000.00		673,642.22		-	-	-	673,642.22	-	-	19,764,000.00
Cert	-		45,671,083.82		-	-	-	45,671,083.82	-	-	-


Total	1,479,260,000.00		65,500,761.54		219,347,723.90	9,082,228.42	228,429,952.32	293,930,713.86	-	-	1,250,830,047.68


	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)

A-1	2.44000%	520,087,050.67			1,092,760.68	-	-	-	1,092,760.68	1,092,760.68	-
A-2	2.35000%	256,734,174.45			519,530.13	-	-	-	519,530.13	519,530.13	-
A-3	2.67000%	85,345,000.00			196,222.38	-	-	-	196,222.38	196,222.38	-
A-4	2.48000%	169,051,958.82			361,019.85	-	-	-	361,019.85	361,019.85	-
M-1	2.77000%	103,381,000.00			246,592.40	-	-	-	246,592.40	246,592.40	-
M-2	3.53000%	79,817,000.00			242,621.51	-	-	-	242,621.51	242,621.51	-
M-3	3.73000%	26,605,000.00			85,453.78	-	-	-	85,453.78	85,453.78	-
M-4	4.38000%	22,805,000.00			86,012.86	-	-	-	86,012.86	86,012.86	-
M-5	4.63000%	18,243,000.00			72,733.83	-	-	-	72,733.83	72,733.83	-
M-6	5.53000%	19,764,000.00			94,115.07	-	-	-	94,115.07	94,115.07	-
Cert		-			-	-	-	-	-	5,017,331.89	-


Total		1,301,833,183.93			2,997,062.49	-	-	-	2,997,062.49	8,014,394.38	-


							Page 3 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collection Account Report for December 27, 2004 Distribution


	Collection Account Report


SUMMARY						GROUP 2	GROUP 1	TOTAL

	Principal Collections					25,593,558.87	25,386,586.41	50,980,145.28
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					25,593,558.87	25,386,586.41	50,980,145.28

	Interest Collections					3,712,379.62	3,764,924.32	7,477,303.94
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	933,407.73
	Interest Fees					(182,892.35)	(190,433.97)	(373,326.32)
	TOTAL NET INTEREST					3,529,487.27	3,574,490.35	8,037,385.35

	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					29,123,046.14	28,961,076.76	59,017,530.63


PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL

	Scheduled Principal Received					509,907.38	549,281.82	1,059,189.20
	Curtailments					37,261.88	83,110.62	120,372.50
	Prepayments in Full					25,046,389.61	24,616,852.47	49,663,242.08
	Repurchses/Substitutions					0.00	0.00	0.00
	Liquidations					0.00	160,332.47	160,332.47
	Insurance Principal					0.00	0.00	0.00
	Other Additional Principal					0.00	0.00	0.00
	Delinquent Interest					(179,566.48)	(178,381.99)	(357,948.47)
	Realized Losses					0.00	(22,990.97)	(22,990.97)
	Loss Recoveries					0.00	0.00	0.00
	Substitution Shortfalls					0.00	0.00	0.00
	Loan Adjustments					0.00	0.00	0.00
	Advanced Principal					179,566.48	178,381.99	357,948.47
	TOTAL PRINCIPAL COLLECTED					25,593,558.87	25,386,586.41	50,980,145.28


				Page 4 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collection Account Report for December 27, 2004 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL

	Scheduled Interest					3,809,793.98	3,856,046.07	7,665,840.05
	Repurchased Interest					0.00	0.00	0.00
	Liquidation Interest					0.00	1,220.77	1,220.77
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Net Prepayment Interest Shortfalls					(76,383.77)	(77,516.49)	(153,900.26)

	Delinquent Interest					(1,371,459.65)	(1,322,639.35)	(2,694,099.00)

	Realized Losses					0.00	0.00	0.00
	Compensating Interest					76,383.77	77,516.49	153,900.26
	Subsistution Shortfalls					0.00	0.00	0.00
	Civil Relief Act Shortfalls					(1,628.87)	0.00	(1,628.87)
	Loss Recoveries					0.00	0.00	0.00
	Loan Adjustments					0.00	0.00	0.00
	Interest Advanced					1,275,674.16	1,230,296.83	2,505,970.99


	TOTAL INTEREST COLLECTED					3,712,379.62	3,764,924.32	7,477,303.94


				Page 5 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collection Account Report for December 27, 2004 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL

	Prepayment Charges							933,407.73
	Available Funds Cap Account Distributions							0.00
	Available Fund Cap Account Interest Earnings							0.00


	TOTAL INTEREST OTHER ACCOUNTS							933,407.73


INTEREST - FEES						GROUP 2	GROUP 1	TOTAL

	Current Servicing Fees					181,780.58	189,307.60	371,088.18
	Indenture Trustee Fee					1,111.77	1,126.37	2,238.14
	Owner Trustee Fee					0.00	0.00	0.00
	Extraordinary Trust Fund Expenses					0.00	0.00	0.00

	TOTAL INTEREST OTHER FEES					182,892.35	190,433.97	373,326.32


				Page 6 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Credit Enhancement Report for December 27, 2004 Distribution


	Credit Enhancement Report


ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


INSURANCE						GROUP 2	GROUP 1	TOTAL

	PMI and TAX PREMIUM							0.00


STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL

	Overcollateralized Amount							41,048,351.31

	Overcollateralization Target Amount							41,048,351.31

	Overcollateralization Increase Amount							22,990.97

	Overcollateralization Reduction Amount							0.00

	Credit Enhancement Percentage							24.123041%


				Page 7 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collateral Report for December 27, 2004 Distribution


	Collateral Report


COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	*Original*					3897	4865	8762
	Prior					3,520	4,433	7,953
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(103)	(129)	(232)
	Repurchases					-	-	-
	Liquidations					-	(2)	(2)
	Current					3,417	4,302	7,719

	*Principal Balance:*
	Original					760,633,478.53	759,675,829.16	1,520,309,307.69
	Prior					667,061,121.27	675,820,413.97	1,342,881,535.24
	Prefunding					-	-	-
	Scheduled Principal					(509,907.38)	(549,281.82)	(1,059,189.20)
	Partial and Full Voluntary Prepayments					(25,083,651.49)	(24,699,963.09)	(49,783,614.58)
	Repurchases					-	-	-
	Liquidations					-	(160,332.47)	(160,332.47)
	Current					641,467,562.40	650,410,836.59	1,291,878,398.99

PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collateral Report for December 27, 2004 Distribution


	Collateral Report


CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL

	Weighted Average Coupon Original					6.864589%	6.869386%	6.866986%
	Weighted Average Coupon Prior					6.844675%	6.854498%	6.849602%
	Weighted Average Coupon Current					6.853574%	6.849039%	6.851292%
	Weighted Average Months to Maturity Original					350	351	350
	Weighted Average Months to Maturity Prior					344	344	344
	Weighted Average Months to Maturity Current					343	343	343
	Weighted Avg Remaining Amortization Term Original					350	350	350
	Weighted Avg Remaining Amortization Term Prior					343	344	344
	Weighted Avg Remaining Amortization Term Current					342	342	342
	Weighted Average Seasoning Original					1.59	1.48	1.54
	Weighted Average Seasoning Prior					7.57	7.48	7.52
	Weighted Average Seasoning Current					8.56	8.47	8.52

Note: Original information refers to deal issue.


	Group 1
	Group 2
WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Collateral Report for December 27, 2004 Distribution


	Collateral Report


ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL

	Weighted Average Margin Original					4.172%	4.192%
	Weighted Average Margin Prior					4.106%	4.132%
	Weighted Average Margin Current					4.076%	4.114%
	Weighted Average Max Rate Original					10.597%	10.529%
	Weighted Average Max Rate Prior					10.423%	10.370%
	Weighted Average Max Rate Current					10.350%	10.329%
	Weighted Average Min Rate Original					5.211%	5.188%
	Weighted Average Min Rate Prior					5.114%	5.100%
	Weighted Average Min Rate Current					5.078%	5.078%
	Weighted Average Cap Up Original					1.205%	1.161%
	Weighted Average Cap Up Prior					1.188%	1.145%
	Weighted Average Cap Up Current					1.178%	1.142%
	Weighted Average Cap Down Original					1.205%	1.161%
	Weighted Average Cap Down Prior					1.188%	1.145%
	Weighted Average Cap Down Current					1.178%	1.142%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL

	Current Servicing Fees					181,780.58	189,307.60	371,088.18
	Delinquent Servicing Fees					95,785.49	92,342.52	188,128.01
	TOTAL SERVICING FEES					277,566.07	281,650.12	559,216.19

	Total Servicing Fees					373,351.56	373,992.64	747,344.20
	Delinquent Servicing Fees					(95,785.49)	(92,342.52)	(188,128.01)
	Compensating Interest					76,383.77	77,516.49	153,900.26
	COLLECTED SERVICING FEES					353,949.84	359,166.61	713,116.45


ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL

	Prepayment Interest Shortfall					(76,383.77)	(77,516.49)	(153,900.26)
	Compensating Interest					76,383.77	77,516.49	153,900.26
	NET PREPAYMENT INTERET SHORTFALLS					0.00	0.00	0.00

	Principal Advances					179,566.48	178,381.99	357,948.47
	Interest Advances					1,275,674.16	1,230,296.83	2,505,970.99
	TOTAL ADVANCES					1,455,240.64	1,408,678.82	2,863,919.46


				Page 10 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Delinquency Report for December 27, 2004 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			22,071,037.57	5,706,525.95	2,348,702.47	30,126,265.99
		% Balance			1.71%	0.44%	0.18%	2.33%
		# Loans			121	39	18	178
		% # Loans			1.57%	0.51%	0.23%	2.31%
FORECLOSURE		Balance		150,358.38	333,861.75	1,275,863.06	13,044,032.40	14,804,115.59
		% Balance		0.01%	0.03%	0.10%	1.01%	1.15%
		# Loans		1	2	8	77	88
		% # Loans		0.01%	0.03%	0.10%	1.00%	1.14%
BANKRUPTCY		Balance		5,177,371.74	523,964.01	307,310.00	2,502,135.42	8,510,781.17
		% Balance		0.40%	0.04%	0.02%	0.19%	0.66%
		# Loans		33	3	2	12	50
		% # Loans		0.43%	0.04%	0.03%	0.16%	0.65%
REO		Balance		-	-	-	721,054.02	721,054.02
		% Balance		0.00%	0.00%	0.00%	0.06%	0.06%
		# Loans		-	-	-	4	4
		% # Loans		0.00%	0.00%	0.00%	0.05%	0.05%

TOTAL		Balance		5,327,730.12	22,928,863.33	7,289,699.01	18,615,924.31	54,162,216.77
		% Balance		0.41%	1.77%	0.56%	1.44%	4.19%
		# Loans		34	126	49	111	320
		% # Loans		0.44%	1.63%	0.63%	1.44%	4.15%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 11 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Delinquency Report for December 27, 2004 Distribution


	Delinquency Report - Group 1 Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			10,060,393.36	3,151,984.86	1,689,305.79	14,901,684.01
		% Balance			1.55%	0.48%	0.26%	2.29%
		# Loans			63	23	13	99
		% # Loans			1.46%	0.53%	0.30%	2.30%
FORECLOSURE		Balance		150,358.38	333,861.75	414,659.92	5,391,296.05	6,290,176.10
		% Balance		0.02%	0.05%	0.06%	0.83%	0.97%
		# Loans		1	2	3	35	41
		% # Loans		0.02%	0.05%	0.07%	0.81%	0.95%
BANKRUPTCY		Balance		2,338,259.20	348,727.51	307,310.00	317,882.82	3,312,179.53
		% Balance		0.36%	0.05%	0.05%	0.05%	0.51%
		# Loans		18	2	2	4	26
		% # Loans		0.42%	0.05%	0.05%	0.09%	0.60%
REO		Balance		-	-	-	179,326.02	179,326.02
		% Balance		0.00%	0.00%	0.00%	0.03%	0.03%
		# Loans		-	-	-	2	2
		% # Loans		0.00%	0.00%	0.00%	0.05%	0.05%

TOTAL		Balance		2,488,617.58	10,742,982.62	3,873,954.78	7,577,810.68	24,683,365.66
		% Balance		0.38%	1.65%	0.60%	1.17%	3.80%
		# Loans		19	67	28	54	168
		% # Loans		0.44%	1.56%	0.65%	1.26%	3.91%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 12 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Delinquency Report for December 27, 2004 Distribution


	Delinquency Report - Group 2 Group


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			12,010,644.21	2,554,541.09	659,396.68	15,224,581.98
		% Balance			1.87%	0.40%	0.10%	2.37%
		# Loans			58	16	5	79
		% # Loans			1.70%	0.47%	0.15%	2.31%
FORECLOSURE		Balance		-	-	861,203.14	7,652,736.35	8,513,939.49
		% Balance		0.00%	0.00%	0.13%	1.19%	1.33%
		# Loans		-	-	5	42	47
		% # Loans		0.00%	0.00%	0.15%	1.23%	1.38%
BANKRUPTCY		Balance		2,839,112.54	175,236.50	-	2,184,252.60	5,198,601.64
		% Balance		0.44%	0.03%	0.00%	0.34%	0.81%
		# Loans		15	1	-	8	24
		% # Loans		0.44%	0.03%	0.00%	0.23%	0.70%
REO		Balance		-	-	-	541,728.00	541,728.00
		% Balance		0.00%	0.00%	0.00%	0.08%	0.08%
		# Loans		-	-	-	2	2
		% # Loans		0.00%	0.00%	0.00%	0.06%	0.06%

TOTAL		Balance		2,839,112.54	12,185,880.71	3,415,744.23	11,038,113.63	29,478,851.11
		% Balance		0.44%	1.90%	0.53%	1.72%	4.60%
		# Loans		15	59	21	57	152
		% # Loans		0.44%	1.73%	0.61%	1.67%	4.45%
Note: <1 Payment = 0-29days, 1 Payment = 30-59days, 2 Payments = 60-89days, 3+ Payments = 90+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent


Total Foreclosure					Total Bankruptcy and REO


Note: Dates correspond to distribution dates.
				Page 13 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	REO Report for December 27, 2004 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 1				Loan Group 1 = Group 1; REO Book Value = Not Available
Total Original Principal Balance = 104,000.00				Loan Group 2 = Group 2; REO Book Value = Not Available
Total Current Balance = 103,255.13
REO Book Value = Not Available

REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.

Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date

1397336 1		104,000.00	103,255.13	May-01-04	6.650%	TX - 80.00%	360	Mar-09-04


				Page 14 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Report for December 27, 2004 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL

	*Current*
	Number of Paid in Full Loans					103	129	232
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					103	129	232

	Paid in Full Balance					25,046,389.61	24,616,852.47	49,663,242.08
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					37,261.88	83,110.62	120,372.50
	Total Prepayment Amount					25,083,651.49	24,699,963.09	49,783,614.58

	*Cumulative*
	Number of Paid in Full Loans					480	561	1,041
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					480	561	1,041

	Paid in Full Balance					114,337,636.75	104,059,192.14	218,396,828.89
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					450,666.79	340,852.13	791,518.92
	Total Prepayment Amount					114,788,303.54	104,400,044.27	219,188,347.81

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 15 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Report for December 27, 2004 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL

	SMM					3.76%	3.66%	3.71%
	3 Months Avg SMM					3.53%	3.17%	3.35%
	12 Months Avg SMM
	Avg SMM Since Cut-off					2.03%	1.84%	1.94%

	CPR					36.89%	36.06%	36.47%
	3 Months Avg CPR					35.03%	32.08%	33.56%
	12 Months Avg CPR
	Avg CPR Since Cut-off					21.85%	19.98%	20.92%

	PSA					2153.87%	2127.89%	2140.94%
	3 Months Avg PSA Approximation					2313.65%	2145.50%	2230.85%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					2152.42%	2006.25%	2080.35%



	Group 1
	Group 2


CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 16 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Report for December 27, 2004 Distribution


	Prepayment Report - Voluntary Prepayments

	Group 1
	Group 2

CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off


PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off


PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*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 and repurchases.
Dates correspond to distribution dates.

				Page 17 of 29				© COPYRIGHT 2004 Deutsche Bank


	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Detail Report for December 27, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 232						Loan Group 1 = Group 1
Total Original Principal Balance = 49,948,339.17						Loan Group 2 = Group 2
Total Prepayment Amount = 49,663,242.08


Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date

1034718 1			368,000.00	366,373.16	Nov-15-04	8.400%	NY - 80.00%	Paid Off - 360	Mar-09-04
1142580 1			396,000.00	392,268.53	Nov-15-04	7.000%	NY - 99.00%	Paid Off - 360	Dec-05-03
1195378 1			65,900.00	64,963.39	Nov-24-04	10.550%	CA - 20.00%	Paid Off - 240	Nov-21-03
1202250 1			49,400.00	48,653.74	Nov-03-04	10.000%	WA - 20.00%	Paid Off - 240	Nov-18-03
1212218 1			20,000.00	19,457.91	Nov-30-04	9.800%	CA - 20.00%	Paid Off - 240	Jan-06-04
1231789 1			411,350.00	408,209.88	Nov-15-04	7.500%	HI - 95.00%	Paid Off - 360	Jan-06-04
1275919 1			26,800.00	26,349.34	Nov-04-04	10.000%	MA - 20.00%	Paid Off - 240	Jan-23-04
1277055 1			299,000.00	299,000.00	Nov-01-04	5.750%	CA - 65.00%	Paid Off - 300	Dec-31-03
1282883 1			37,000.00	36,115.56	Nov-10-04	9.550%	CA - 20.00%	Paid Off - 180	Jan-30-04
1285324 1			118,750.00	117,887.37	Nov-19-04	7.200%	IA - 95.00%	Paid Off - 360	Jan-13-04
1288052 1			66,200.00	64,398.06	Nov-05-04	9.050%	CA - 20.00%	Paid Off - 180	Dec-31-03
1295401 1			50,000.00	49,716.89	Nov-16-04	7.850%	HI - 55.62%	Paid Off - 360	Feb-25-04
1312907 1			241,072.00	238,653.09	Nov-30-04	5.500%	CA - 80.00%	Paid Off - 360	Feb-12-04
1316578 1			51,000.00	50,706.27	Nov-10-04	9.650%	CA - 20.00%	Paid Off - 360	Feb-04-04
1316665 1			29,600.00	29,279.18	Nov-04-04	10.250%	NV - 20.00%	Paid Off - 240	Feb-26-04
1318402 1			114,000.00	113,271.40	Nov-15-04	7.850%	HI - 95.00%	Paid Off - 360	Jan-30-04
1322427 1			218,500.00	218,500.00	Nov-05-04	7.150%	CA - 95.00%	Paid Off - 360	Feb-26-04
1325333 1			153,600.00	152,270.81	Nov-16-04	5.650%	CA - 80.00%	Paid Off - 360	Feb-17-04
1325339 1			38,400.00	37,964.62	Nov-16-04	9.650%	CA - 20.00%	Paid Off - 240	Feb-17-04
1325718 1			43,000.00	42,431.73	Nov-24-04	9.400%	CA - 20.00%	Paid Off - 240	Jan-22-04
1329596 1			320,000.00	316,848.09	Nov-23-04	5.600%	CA - 80.00%	Paid Off - 360	Feb-03-04
1329653 1			35,000.00	34,491.78	Nov-24-04	8.900%	CA - 20.00%	Paid Off - 240	Jan-30-04
1329771 1			183,500.00	182,602.89	Nov-02-04	7.900%	ME - 100.00%	Paid Off - 360	Mar-24-04
1330385 1			58,400.00	58,102.35	Nov-03-04	9.400%	CA - 20.00%	Paid Off - 360	Jan-30-04
1331497 1			232,000.00	229,916.36	Nov-08-04	5.450%	CA - 80.00%	Paid Off - 360	Feb-24-04
1335319 1			204,000.00	203,027.32	Nov-02-04	8.025%	PA - 85.00%	Paid Off - 360	Mar-23-04
1339081 1			232,000.00	230,491.88	Nov-19-04	7.150%	CA - 80.00%	Paid Off - 360	Feb-18-04
1343047 1			104,000.00	103,153.78	Nov-04-04	6.500%	CA - 65.00%	Paid Off - 360	Mar-04-04
1344576 1			63,400.00	62,647.17	Nov-03-04	10.250%	CA - 20.00%	Paid Off - 240	Jan-28-04
1345139 1			205,490.00	203,627.39	Nov-09-04	5.400%	CA - 80.00%	Paid Off - 360	Mar-09-04
1345475 1			178,500.00	177,416.73	Nov-11-04	7.500%	MI - 85.00%	Paid Off - 360	Mar-09-04
1346144 1			72,500.00	72,134.79	Nov-02-04	7.750%	FL - 50.00%	Paid Off - 360	Mar-08-04
1349185 1			208,000.00	206,414.87	Nov-11-04	6.800%	CA - 80.00%	Paid Off - 360	Mar-01-04
1353680 1			180,000.00	178,652.22	Nov-03-04	7.250%	CA - 90.00%	Paid Off - 360	Feb-18-04
1354335 1			315,900.00	313,765.01	Nov-02-04	6.950%	CA - 90.00%	Paid Off - 360	Feb-26-04
1354740 1			282,200.00	280,503.04	Nov-02-04	6.850%	CA - 85.00%	Paid Off - 360	Mar-23-04
1356557 1			203,000.00	201,667.49	Nov-01-04	7.100%	FL - 70.00%	Paid Off - 360	Feb-26-04
1358190 1			224,000.00	222,816.44	Nov-01-04	8.200%	CA - 80.00%	Paid Off - 360	Feb-27-04
1358585 1			140,000.00	139,951.58	Nov-16-04	8.050%	MD - 100.00%	Paid Off - 360	Mar-10-04
1358958 1			308,000.00	305,208.15	Nov-05-04	5.400%	CA - 80.00%	Paid Off - 360	Feb-27-04
1359923 1			296,000.00	294,321.50	Nov-30-04	7.150%	CA - 80.00%	Paid Off - 360	Mar-23-04
1360045 1			284,000.00	282,153.90	Nov-11-04	7.150%	CA - 80.00%	Paid Off - 360	Mar-04-04
1361227 1			304,000.00	301,649.83	Nov-19-04	6.250%	CA - 78.96%	Paid Off - 360	Feb-19-04
1364673 1			301,500.00	299,051.78	Nov-17-04	5.990%	CA - 90.00%	Paid Off - 360	Feb-13-04

					Page 18 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Detail Report for December 27, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution



Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date

1368027 1			273,275.00	270,774.98	Nov-24-04	5.350%	CA - 85.40%	Paid Off - 360	Feb-27-04
1369824 1			323,000.00	320,997.69	Nov-09-04	7.400%	NJ - 85.00%	Paid Off - 360	Mar-05-04
1369835 1			247,500.00	245,693.10	Nov-29-04	6.550%	NJ - 90.00%	Paid Off - 360	Mar-02-04
1370782 1			148,000.00	146,953.01	Nov-10-04	6.000%	CA - 80.00%	Paid Off - 360	Mar-08-04
1370965 1			124,500.00	123,422.25	Nov-19-04	5.650%	CA - 77.81%	Paid Off - 360	Feb-23-04
1373727 1			118,580.00	118,085.03	Nov-16-04	9.350%	PA - 77.00%	Paid Off - 360	Feb-25-04
1375649 1			276,000.00	273,521.17	Nov-05-04	5.450%	CA - 80.00%	Paid Off - 360	Feb-25-04
1375731 1			292,000.00	290,083.01	Nov-30-04	6.425%	CA - 77.87%	Paid Off - 360	Mar-24-04
1375844 1			292,410.00	290,869.72	Nov-23-04	7.525%	IL - 89.97%	Paid Off - 360	Mar-23-04
1376413 1			72,000.00	72,000.00	Nov-29-04	7.950%	IL - 75.79%	Paid Off - 360	Mar-08-04
1376745 1			106,400.00	105,853.23	Nov-02-04	7.650%	CA - 80.00%	Paid Off - 360	Mar-05-04
1378886 1			225,000.00	223,724.08	Nov-01-04	7.150%	HI - 75.00%	Paid Off - 360	Mar-08-04
1379257 1			189,000.00	187,897.49	Nov-23-04	7.700%	NJ - 72.69%	Paid Off - 360	Mar-05-04
1379381 1			235,000.00	233,669.04	Nov-05-04	7.275%	IL - 78.33%	Paid Off - 360	Mar-03-04
1380317 1			286,000.00	283,530.95	Nov-01-04	8.500%	DC - 95.33%	Paid Off - 360	Mar-23-04
1380463 1			375,900.00	373,261.10	Nov-29-04	6.550%	HI - 80.00%	Paid Off - 360	Mar-09-04
1380695 1			195,500.00	194,534.64	Nov-29-04	7.850%	MA - 85.00%	Paid Off - 360	Mar-09-04
1381115 1			131,000.00	129,292.12	Nov-08-04	7.400%	CA - 47.64%	Paid Off - 240	Mar-08-04
1381789 1			164,000.00	162,791.10	Nov-30-04	6.500%	CT - 83.25%	Paid Off - 360	Mar-03-04
1382097 1			127,500.00	126,852.91	Nov-05-04	7.725%	OH - 85.00%	Paid Off - 360	Mar-24-04
1385397 1			160,000.00	158,976.50	Nov-18-04	6.800%	CA - 64.00%	Paid Off - 360	Mar-08-04
1386066 1			39,000.00	38,588.19	Nov-15-04	9.500%	CA - 20.00%	Paid Off - 240	Mar-25-04
1386175 1			172,000.00	171,999.79	Nov-08-04	5.875%	CA - 80.00%	Paid Off - 360	Mar-18-04
1386542 1			153,000.00	152,157.56	Nov-24-04	7.300%	CT - 85.00%	Paid Off - 360	Mar-23-04
1386586 1			193,500.00	193,444.52	Nov-30-04	0.000%	WA - 90.00%	Paid Off - 360	Mar-04-04
1387769 1			204,000.00	202,530.98	Nov-08-04	6.400%	CA - 76.40%	Paid Off - 360	Mar-23-04
1388281 1			139,500.00	138,761.53	Nov-10-04	7.500%	FL - 90.00%	Paid Off - 360	Mar-09-04
1388577 1			197,200.00	197,200.00	Nov-24-04	5.990%	CA - 85.00%	Paid Off - 360	Mar-12-04
1388817 1			55,000.00	54,699.98	Nov-29-04	7.450%	IL - 29.73%	Paid Off - 360	Mar-05-04
1388822 1			186,000.00	182,722.51	Nov-03-04	6.000%	CA - 64.14%	Paid Off - 240	Mar-03-04
1389609 1			204,000.00	202,910.37	Nov-30-04	8.150%	NV - 80.00%	Paid Off - 360	Mar-09-04
1389836 1			90,000.00	89,551.10	Nov-30-04	7.800%	CA - 48.65%	Paid Off - 360	Mar-09-04
1390295 1			200,600.00	198,204.66	Nov-17-04	5.750%	VA - 85.00%	Paid Off - 360	Mar-02-04
1390661 1			272,850.00	271,253.62	Nov-22-04	6.990%	CA - 85.00%	Paid Off - 360	Mar-09-04
1390928 1			332,500.00	330,274.58	Nov-17-04	7.000%	CT - 95.00%	Paid Off - 360	Mar-05-04
1391005 1			285,000.00	283,415.16	Nov-22-04	7.250%	CA - 95.00%	Paid Off - 360	Mar-25-04
1391012 1			277,000.00	274,027.66	Nov-30-04	4.875%	NY - 69.25%	Paid Off - 360	Mar-15-04
1391371 1			237,370.17	235,726.03	Nov-29-04	6.150%	CA - 79.92%	Paid Off - 360	Mar-24-04
1392514 1			120,700.00	120,150.35	Nov-02-04	7.750%	IL - 85.00%	Paid Off - 360	Mar-24-04
1392719 1			261,000.00	261,000.00	Nov-19-04	5.750%	CA - 90.00%	Paid Off - 360	Mar-15-04
1392927 1			69,500.00	69,003.68	Nov-05-04	5.950%	SC - 79.89%	Paid Off - 360	Mar-22-04
1394696 1			187,000.00	185,540.60	Nov-03-04	6.200%	CA - 85.00%	Paid Off - 360	Mar-09-04
1394766 1			285,000.00	284,999.25	Nov-22-04	5.900%	CA - 86.10%	Paid Off - 360	Mar-08-04
1396266 1			100,800.00	100,431.34	Nov-19-04	9.325%	CA - 70.00%	Paid Off - 360	Mar-22-04
1396313 1			156,000.00	155,182.28	Nov-12-04	7.550%	RI - 65.00%	Paid Off - 360	Mar-24-04
1400083 1			119,000.00	118,404.58	Nov-01-04	7.800%	OR - 70.00%	Paid Off - 360	Mar-09-04
1400404 1			256,500.00	255,207.91	Nov-23-04	7.750%	CA - 90.00%	Paid Off - 360	Mar-22-04
1402315 1			265,000.00	263,449.54	Nov-17-04	6.990%	CA - 89.83%	Paid Off - 360	Mar-17-04
1402412 1			271,700.00	271,700.00	Nov-30-04	7.600%	NC - 95.00%	Paid Off - 360	Mar-15-04
1403277 1			220,000.00	219,999.96	Nov-11-04	6.000%	NV - 80.00%	Paid Off - 360	Mar-01-04
1405473 1			148,400.00	147,768.23	Nov-08-04	8.600%	FL - 70.00%	Paid Off - 360	Mar-15-04
1406061 1			234,000.00	232,773.46	Nov-22-04	0.000%	NH - 90.00%	Paid Off - 360	Mar-17-04

					Page 19 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Detail Report for December 27, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution



Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date

1406193 1			108,000.00	107,393.48	Nov-12-04	7.200%	GA - 75.00%	Paid Off - 360	Mar-16-04
1408763 1			190,000.00	188,754.25	Nov-02-04	6.400%	FL - 95.00%	Paid Off - 360	Mar-22-04
1410191 1			148,500.00	147,521.71	Nov-17-04	6.375%	RI - 66.00%	Paid Off - 360	Mar-22-04
1410347 1			194,000.00	193,176.51	Nov-18-04	8.600%	CA - 56.89%	Paid Off - 360	Mar-10-04
1410926 1			99,200.00	99,165.60	Nov-19-04	6.600%	CT - 80.00%	Paid Off - 360	Feb-27-04
1412167 1			307,600.00	305,419.88	Nov-17-04	5.990%	RI - 73.76%	Paid Off - 360	Mar-24-04
1412823 1			175,500.00	174,580.12	Nov-02-04	7.550%	CA - 90.00%	Paid Off - 360	Mar-09-04
1413835 1			118,000.00	117,404.92	Nov-30-04	7.750%	CA - 74.21%	Paid Off - 360	Mar-09-04
1414800 1			63,000.00	62,760.52	Nov-01-04	9.150%	CO - 84.00%	Paid Off - 360	Mar-22-04
1414834 1			284,000.00	283,855.04	Nov-02-04	5.990%	CA - 74.74%	Paid Off - 360	Mar-22-04
1415030 1			273,600.00	271,963.06	Nov-11-04	6.875%	CA - 80.00%	Paid Off - 360	Mar-12-04
1415308 1			248,900.00	248,900.00	Nov-30-04	7.100%	CA - 95.00%	Paid Off - 360	Mar-22-04
1416330 1			328,000.00	326,139.96	Nov-02-04	7.150%	NY - 77.18%	Paid Off - 360	Mar-12-04
1416678 1			272,000.00	269,847.52	Nov-02-04	5.400%	CA - 80.00%	Paid Off - 360	Mar-17-04
1416790 1			415,000.00	411,277.46	Nov-19-04	5.950%	CA - 74.11%	Paid Off - 360	Mar-10-04
1417517 1			325,375.00	322,847.43	Nov-23-04	5.500%	CA - 95.00%	Paid Off - 360	Mar-08-04
1418159 1			229,500.00	228,600.63	Nov-01-04	8.990%	CA - 85.00%	Paid Off - 360	Mar-18-04
1420287 1			160,000.00	158,868.10	Nov-18-04	6.000%	CA - 80.00%	Paid Off - 360	Mar-25-04
1420350 1			145,000.00	144,201.08	Nov-01-04	7.350%	WI - 100.00%	Paid Off - 360	Mar-22-04
1423062 1			120,000.00	119,352.10	Nov-02-04	7.400%	CA - 80.00%	Paid Off - 360	Mar-23-04
1423903 1			260,000.00	258,212.20	Nov-23-04	6.150%	CA - 68.06%	Paid Off - 360	Mar-24-04
1426141 1			137,750.00	137,750.00	Nov-23-04	6.850%	CA - 95.00%	Paid Off - 360	Mar-26-04
1426395 1			144,000.00	143,104.43	Nov-15-04	6.675%	CA - 80.00%	Paid Off - 360	Mar-25-04
1429547 1			310,700.00	308,795.52	Nov-15-04	6.750%	CA - 62.02%	Paid Off - 360	Mar-24-04
1431233 1			111,000.00	110,519.11	Nov-30-04	8.500%	FL - 63.43%	Paid Off - 360	Mar-26-04
1435020 1			322,200.00	319,811.05	Nov-23-04	5.750%	CA - 90.00%	Paid Off - 360	Mar-25-04
1436070 1			135,000.00	134,233.98	Nov-24-04	7.150%	CA - 90.00%	Paid Off - 360	Mar-24-04
1436533 1			40,000.00	39,584.37	Nov-17-04	9.250%	CA - 20.00%	Paid Off - 240	Mar-25-04
1438511 1			250,000.00	248,740.60	Nov-04-04	7.750%	CA - 74.63%	Paid Off - 360	Mar-17-04
1439610 1			259,000.00	257,292.15	Nov-02-04	6.500%	CA - 70.00%	Paid Off - 360	Mar-22-04
1442184 1			212,500.00	211,352.69	Nov-19-04	7.400%	CA - 85.00%	Paid Off - 360	Mar-23-04
1442808 1			72,000.00	71,694.38	Nov-02-04	8.600%	IL - 80.00%	Paid Off - 360	Mar-26-04
1468504 1			282,150.00	280,782.81	Nov-17-04	8.025%	IL - 95.00%	Paid Off - 360	Mar-26-04
1060124 2			244,000.00	241,726.38	Nov-18-04	5.250%	CA - 80.00%	Paid Off - 360	Feb-13-04
1230529 2			117,000.00	116,369.85	Nov-16-04	8.700%	MI - 90.00%	Paid Off - 360	Feb-11-04
1251854 2			142,500.00	141,539.00	Nov-02-04	7.100%	NY - 75.00%	Paid Off - 360	Feb-17-04
1258902 2			453,600.00	449,594.14	Nov-30-04	6.750%	CT - 90.00%	Paid Off - 360	Dec-17-03
1259607 2			637,500.00	637,500.00	Nov-29-04	5.250%	CA - 85.00%	Paid Off - 300	Dec-23-03
1262250 2			650,000.00	650,000.00	Nov-18-04	5.250%	CA - 81.25%	Paid Off - 300	Dec-10-03
1276593 2			425,000.00	424,998.29	Nov-17-04	5.250%	CO - 85.00%	Paid Off - 300	Dec-29-03
1284891 2			456,000.00	450,417.02	Nov-29-04	5.000%	IL - 80.00%	Paid Off - 360	Dec-24-03
1287724 2			71,000.00	70,692.01	Nov-30-04	9.750%	CA - 20.00%	Paid Off - 360	Jan-13-04
1289139 2			71,800.00	70,055.94	Nov-19-04	10.350%	CA - 20.00%	Paid Off - 180	Dec-31-03
1290048 2			388,000.00	384,283.42	Nov-30-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-08-04
1324405 2			80,800.00	79,732.28	Nov-05-04	9.400%	CA - 20.00%	Paid Off - 240	Jan-22-04
1325991 2			196,200.00	195,945.92	Nov-10-04	5.375%	MI - 90.00%	Paid Off - 300	Feb-12-04
1326937 2			21,600.00	21,348.85	Nov-18-04	9.450%	ME - 20.00%	Paid Off - 240	Feb-13-04
1331377 2			428,000.00	428,000.00	Nov-29-04	5.875%	CA - 80.00%	Paid Off - 300	Feb-20-04
1338311 2			194,600.00	193,860.41	Nov-11-04	9.800%	RI - 70.00%	Paid Off - 360	Feb-17-04
1338868 2			110,000.00	109,196.93	Nov-29-04	6.550%	CA - 61.11%	Paid Off - 360	Feb-27-04
1341569 2			375,000.00	373,375.54	Nov-08-04	8.500%	CA - 75.00%	Paid Off - 360	Mar-22-04
1343825 2			94,200.00	92,901.68	Nov-02-04	9.990%	CA - 20.00%	Paid Off - 240	Jan-30-04

					Page 20 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Detail Report for December 27, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution



Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date

1350753 2			423,200.00	418,880.90	Nov-29-04	4.750%	CA - 80.00%	Paid Off - 360	Feb-19-04
1355270 2			462,150.00	459,222.37	Nov-09-04	7.775%	CA - 90.00%	Paid Off - 360	Feb-10-04
1355887 2			404,100.00	402,009.40	Nov-02-04	8.300%	AZ - 90.00%	Paid Off - 360	Feb-06-04
1356104 2			224,000.00	222,875.74	Nov-04-04	8.450%	NY - 80.00%	Paid Off - 360	Feb-25-04
1356542 2			146,250.00	145,504.74	Nov-19-04	8.375%	MO - 75.00%	Paid Off - 360	Mar-09-04
1358040 2			276,250.00	274,523.27	Nov-02-04	7.350%	CA - 85.00%	Paid Off - 360	Mar-05-04
1358328 2			284,960.00	284,960.00	Nov-23-04	6.700%	CO - 80.00%	Paid Off - 360	Feb-05-04
1358528 2			311,200.00	308,300.20	Nov-23-04	5.250%	CA - 80.00%	Paid Off - 360	Feb-18-04
1358735 2			365,500.00	362,907.43	Nov-24-04	6.700%	CA - 85.00%	Paid Off - 360	Feb-18-04
1361450 2			215,920.00	214,557.11	Nov-16-04	7.300%	CA - 80.00%	Paid Off - 360	Mar-09-04
1361777 2			434,000.00	430,644.98	Nov-02-04	6.250%	WA - 69.44%	Paid Off - 360	Feb-27-04
1363107 2			83,200.00	82,702.19	Nov-30-04	6.875%	GA - 80.00%	Paid Off - 360	Mar-09-04
1363150 2			341,250.00	339,074.43	Nov-30-04	6.850%	CA - 75.00%	Paid Off - 360	Mar-24-04
1364681 2			165,750.00	163,932.78	Nov-22-04	6.400%	CA - 85.00%	Paid Off - 360	Feb-24-04
1364990 2			200,000.00	198,581.38	Nov-03-04	6.700%	FL - 80.00%	Paid Off - 360	Feb-25-04
1367480 2			143,100.00	142,004.03	Nov-04-04	6.600%	CA - 90.00%	Paid Off - 360	Feb-20-04
1370742 2			216,000.00	212,661.23	Nov-02-04	7.150%	IL - 90.00%	Paid Off - 360	Mar-01-04
1371392 2			133,450.00	132,851.30	Nov-04-04	9.000%	CA - 85.00%	Paid Off - 360	Feb-24-04
1372475 2			595,000.00	589,502.16	Nov-03-04	5.450%	CA - 85.00%	Paid Off - 360	Feb-23-04
1373546 2			50,000.00	49,678.36	Nov-23-04	6.500%	IL - 31.65%	Paid Off - 360	Mar-09-04
1374216 2			351,000.00	349,196.37	Nov-05-04	7.650%	NY - 90.00%	Paid Off - 360	Mar-08-04
1374317 2			400,000.00	397,127.62	Nov-23-04	6.650%	TX - 80.00%	Paid Off - 360	Feb-27-04
1374691 2			138,000.00	137,145.83	Nov-18-04	7.400%	MA - 54.76%	Paid Off - 360	Feb-27-04
1375604 2			400,000.00	399,692.41	Nov-12-04	5.650%	CA - 80.00%	Paid Off - 360	Mar-03-04
1377437 2			285,000.00	283,199.85	Nov-15-04	7.300%	HI - 95.00%	Paid Off - 360	Mar-09-04
1377641 2			500,000.00	496,467.11	Nov-17-04	6.720%	CA - 87.72%	Paid Off - 360	Mar-01-04
1378087 2			139,950.00	139,139.34	Nov-10-04	7.850%	NM - 80.00%	Paid Off - 360	Mar-03-04
1378754 2			219,200.00	219,200.00	Nov-02-04	5.825%	CA - 80.00%	Paid Off - 360	Mar-01-04
1378928 2			349,600.00	349,250.25	Nov-16-04	5.900%	CA - 80.00%	Paid Off - 360	Mar-01-04
1380492 2			320,000.00	318,310.86	Nov-18-04	8.200%	NY - 80.00%	Paid Off - 360	Mar-08-04
1381785 2		FCL	60,000.00	59,786.13	Nov-30-04	9.450%	FL - 75.00%	Paid Off - 360	Mar-08-04
1382152 2			205,000.00	203,779.37	Nov-03-04	6.900%	FL - 100.00%	Paid Off - 360	Mar-25-04
1385337 2			92,000.00	91,512.98	Nov-19-04	7.500%	TX - 80.00%	Paid Off - 360	Mar-01-04
1386045 2			234,500.00	233,342.07	Nov-22-04	7.850%	NY - 70.00%	Paid Off - 360	Mar-25-04
1386779 2			304,200.00	302,712.79	Nov-03-04	7.900%	CA - 90.00%	Paid Off - 360	Mar-04-04
1386868 2			148,750.00	148,081.28	Nov-02-04	8.990%	CA - 85.00%	Paid Off - 360	Mar-03-04
1387477 2			97,500.00	97,010.98	Nov-01-04	8.500%	CA - 75.00%	Paid Off - 360	Mar-08-04
1389598 2			391,920.00	391,920.00	Nov-02-04	5.350%	CA - 80.00%	Paid Off - 360	Feb-24-04
1391246 2			168,000.00	166,801.69	Nov-08-04	6.700%	CA - 80.00%	Paid Off - 360	Mar-02-04
1392093 2			112,500.00	112,002.66	Nov-29-04	8.400%	NC - 90.00%	Paid Off - 360	Mar-01-04
1392874 2			82,600.00	82,203.35	Nov-30-04	0.000%	FL - 70.00%	Paid Off - 360	Mar-03-04
1393217 2			378,000.00	374,980.94	Nov-02-04	5.350%	CA - 90.00%	Paid Off - 360	Mar-08-04
1393636 2			261,250.00	259,695.11	Nov-29-04	7.600%	NJ - 95.00%	Paid Off - 360	Mar-03-04
1394781 2			214,340.00	214,340.00	Nov-08-04	6.250%	CA - 80.00%	Paid Off - 360	Mar-12-04
1396103 2			292,600.00	290,909.99	Nov-22-04	7.750%	CA - 70.00%	Paid Off - 360	Mar-03-04
1397906 2			370,000.00	369,868.29	Nov-23-04	5.330%	CA - 80.00%	Paid Off - 360	Mar-18-04
1398067 2			306,000.00	304,473.13	Nov-29-04	7.800%	NY - 85.00%	Paid Off - 360	Mar-09-04
1400727 2			376,000.00	375,530.65	Nov-02-04	5.150%	WA - 80.00%	Paid Off - 360	Mar-04-04
1401633 2			230,000.00	228,921.35	Nov-29-04	8.450%	NY - 63.61%	Paid Off - 360	Mar-23-04
1402088 2			340,000.00	340,000.00	Nov-23-04	5.990%	CA - 80.00%	Paid Off - 360	Mar-04-04
1404029 2			182,400.00	181,289.06	Nov-03-04	6.950%	MN - 80.00%	Paid Off - 360	Mar-22-04
1405032 2			430,100.00	427,412.24	Nov-01-04	6.650%	CA - 84.83%	Paid Off - 360	Mar-02-04

					Page 21 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Prepayment Detail Report for December 27, 2004 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution



Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date

1405248 2			264,000.00	262,732.41	Nov-30-04	7.990%	CA - 75.00%	Paid Off - 360	Mar-15-04
1407354 2			147,000.00	146,313.72	Nov-22-04	8.950%	ME - 69.67%	Paid Off - 360	Mar-18-04
1408105 2			143,200.00	143,160.47	Nov-11-04	6.450%	CA - 80.00%	Paid Off - 360	Mar-16-04
1408398 2			67,000.00	66,731.10	Nov-29-04	8.875%	TX - 79.76%	Paid Off - 360	Mar-26-04
1409284 2			413,250.00	413,250.00	Nov-16-04	7.750%	CA - 95.00%	Paid Off - 360	Mar-15-04
1411996 2			168,000.00	166,803.26	Nov-30-04	6.400%	WA - 80.00%	Paid Off - 360	Mar-22-04
1413166 2			109,250.00	108,623.34	Nov-08-04	7.100%	MI - 95.00%	Paid Off - 360	Mar-26-04
1414513 2			160,650.00	159,841.58	Nov-16-04	8.150%	FL - 85.00%	Paid Off - 360	Mar-25-04
1415353 2			139,300.00	138,766.32	Nov-16-04	9.100%	CA - 70.00%	Paid Off - 360	Mar-22-04
1418135 2			213,600.00	213,550.62	Nov-30-04	5.450%	CA - 80.00%	Paid Off - 360	Mar-18-04
1418426 2			170,000.00	170,000.00	Nov-04-04	7.100%	MI - 89.95%	Paid Off - 360	Mar-16-04
1420701 2			156,400.00	152,656.94	Nov-30-04	6.250%	MN - 85.00%	Paid Off - 180	Mar-26-04
1421135 2			104,000.00	103,228.87	Nov-04-04	5.750%	CT - 80.00%	Paid Off - 360	Mar-22-04
1421519 2			80,750.00	80,347.19	Nov-19-04	7.800%	OH - 95.00%	Paid Off - 360	Mar-26-04
1421926 2			436,000.00	433,182.19	Nov-03-04	6.475%	FL - 80.00%	Paid Off - 360	Mar-08-04
1422046 2			80,000.00	79,790.27	Nov-15-04	10.900%	NV - 20.00%	Paid Off - 360	Mar-26-04
1423408 2			249,900.00	248,413.44	Nov-23-04	9.000%	NH - 85.00%	Paid Off - 360	Mar-22-04
1423480 2			61,600.00	61,243.76	Nov-09-04	7.050%	TX - 80.00%	Paid Off - 360	Mar-26-04
1423983 2			450,000.00	448,030.79	Nov-19-04	8.450%	CA - 68.18%	Paid Off - 360	Mar-24-04
1425416 2			93,000.00	92,722.82	Nov-02-04	10.300%	CA - 20.00%	Paid Off - 360	Mar-25-04
1425861 2			351,700.00	349,002.79	Nov-02-04	5.650%	CA - 80.30%	Paid Off - 360	Mar-24-04
1425949 2			155,000.00	154,129.55	Nov-01-04	7.200%	CA - 51.67%	Paid Off - 360	Mar-25-04
1434639 2			156,000.00	155,077.01	Nov-12-04	6.950%	MD - 74.29%	Paid Off - 360	Mar-25-04
1435941 2			70,000.00	69,640.24	Nov-09-04	7.650%	CA - 50.00%	Paid Off - 360	Mar-24-04
1437869 2			99,000.00	98,694.75	Nov-29-04	10.150%	SC - 75.00%	Paid Off - 360	Mar-24-04
1439240 2			229,500.00	228,223.79	Nov-18-04	7.250%	CA - 90.00%	Paid Off - 360	Mar-25-04
1439358 2			296,000.00	294,068.58	Nov-03-04	6.425%	CA - 80.00%	Paid Off - 360	Mar-24-04
1439416 2			74,000.00	73,282.56	Nov-03-04	9.800%	CA - 20.00%	Paid Off - 240	Mar-24-04
1442436 2			105,000.00	104,739.19	Nov-04-04	11.150%	CA - 20.00%	Paid Off - 360	Mar-25-04
1450624 2			479,000.00	476,283.73	Nov-29-04	7.150%	FL - 69.42%	Paid Off - 360	Mar-25-04
1455038 2			358,627.00	356,873.09	Nov-03-04	8.050%	IL - 100.00%	Paid Off - 360	Mar-26-04
1467376 2			85,000.00	84,769.88	Nov-18-04	10.750%	IL - 20.00%	Paid Off - 360	Mar-26-04


					Page 22 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Realized Loss Report for December 27, 2004 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL

	*Current*
	Number of Loans Liquidated					-	2	2
	Collateral Realized Loss/(Gain) Amount					-	22,990.97	22,990.97
	Net Liquidation Proceeds					-	137,341.50	137,341.50

	*Cumulative*
	Number of Loans Liquidated					-	2	2
	Collateral Realized Loss/(Gain) Amount					-	22,990.97	22,990.97
	Net Liquidation Proceeds					-	137,341.50	137,341.50

	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.


	Current Realized Losses							22,990.97
	Current Supplemental Losses (Recoveries)							0.00
	CURRENT NET REALIZED LOSSES							22,990.97

	Beginning Cumulative Realized Losses							0.00
	Current Net Realized Losses							22,990.97
	Ending Cumulative Realized Losses							22,990.97


	Group 1						3 Months Moving Average
	Group 2

Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 23 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Realized Loss Report for December 27, 2004 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL

	MDR					0.00%	0.02%	0.01%
	3 Months Avg MDR					0.00%	0.01%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%

	CDR					0.00%	0.28%	0.14%
	3 Months Avg CDR					0.00%	0.09%	0.05%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.04%	0.02%

	SDA					0.00%	1.68%	0.84%
	3 Months Avg SDA Approximation					0.00%	0.63%	0.32%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.36%	0.18%

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

	Group 1
	Group 2
CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 24 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Realized Loss Report for December 27, 2004 Distribution


	Realized Loss Report - Collateral

	Group 1
	Group 2

CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off


SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off


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 29				© COPYRIGHT 2004 Deutsche Bank


	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Realized Loss Detail Report for December 27, 2004 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution

SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 2
Total Loan Count Revisions = 0						Loan Group 1 = Group 1
Total Prior Principal Balance = 160,332.47						Loan Group 2 = Group 2
Total Current Realized Loss Amount = 22,990.97
Total Revisions Amount = 0.00
Total Realized Loss Amount = 22,990.97
Total Net Liquidation Proceeds = 137,341.50
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.

Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)

1384796 1			8.990%	KS - 90.00%	360	94,971.14		5,417.98
1388486 1		REO	9.350%	TX - 80.00%	360	65,361.33		17,572.99


					Page 26 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 27, 2004 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL

	Has a Stepdown Date occurred?							No

	Is there a Trigger Event in effect?							No


ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL


	Class A-1 Next Pass-through Rate							2.767500%
	Class A-2 Next Pass-through Rate							2.787500%
	Class A-3 Next Pass-through Rate							2.667500%
	Class A-4 Next Pass-through Rate							2.967500%
	Class M-1 Next Pass-through Rate							3.137500%
	Class M-2 Next Pass-through Rate							4.017500%
	Class M-3 Next Pass-through Rate							4.117500%
	Class M-4 Next Pass-through Rate							5.592500%
	Class M-5 Next Pass-through Rate							5.667500%
	Class M-6 Next Pass-through Rate							6.167500%


				Page 27 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Other Related Information for December 27, 2004 Distribution


	Other Related Information


ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL

	Delinquency Category - Loan Count
	0 (Including BK)					3,280.00	4,152.00	7,432.00
	30 (Including BK)					59.00	65.00	124.00
	60 (Including BK)					16.00	25.00	41.00
	90 (Including BK)					13.00	17.00	30.00
	FC					47.00	41.00	88.00
	REO					2.00	2.00	4.00
	Total					3,417.00	4,302.00	7,719.00

	Delinquency Category - Stated Balance
	0 (Including BK)					614,827,823.83	628,065,730.13	1,242,893,553.96
	30 (Including BK)					12,185,880.71	10,409,120.87	22,595,001.58
	60 (Including BK)					2,554,541.09	3,459,294.86	6,013,835.95
	90 (Including BK)					2,843,649.28	2,007,188.61	4,850,837.89
	FC					8,513,939.49	6,290,176.10	14,804,115.59
	REO					541,728.00	179,326.02	721,054.02
	Total					641,467,562.40	650,410,836.59	1,291,878,398.99

	Delinquency Category - % of Total
	0 (Including BK)					95.85%	96.56%	96.21%
	30 (Including BK)					1.90%	1.60%	1.75%
	60 (Including BK)					0.40%	0.53%	0.47%
	90 (Including BK)					0.44%	0.31%	0.38%
	FC					1.33%	0.97%	1.15%
	REO					0.08%	0.03%	0.06%
	Total					100.00%	100.00%	100.00%

	Total BK - Loan Count					24.00	26.00	50.00
	Total BK - Stated Balance					5,198,601.64	3,312,179.53	8,510,781.17
	Total BK - % of Total					0.81%	0.51%	0.66%


				Page 28 of 29				© COPYRIGHT 2004 Deutsche Bank
	New Century Home Equity Loan Trust 2004-1
	Asset Backed Notes
	SERIES 2004-1
	Additional Certificate Report for December 27, 2004 Distribution


	Additional Certificate Report


	CLASS		Basis Risk Shortfall Due	Basis Risk Shortfall Unpaid	Interest Carryforward Amount Due	Interest Carryforward Amount Paid	Net PPIS & Relief Act Shortfall Allocation Due	Net PPIS & Relief Act Shortfall Allocation Paid

	A-1		0.00	0.00	0.00	0.00	0.00	0.00
	A-2		0.00	0.00	0.00	0.00	0.00	0.00
	A-3		0.00	0.00	0.00	0.00	0.00	0.00
	A-4		0.00	0.00	0.00	0.00	0.00	0.00
	M-1		0.00	0.00	0.00	0.00	0.00	0.00
	M-2		0.00	0.00	0.00	0.00	0.00	0.00
	M-3		0.00	0.00	0.00	0.00	0.00	0.00
	M-4		0.00	0.00	0.00	0.00	0.00	0.00
	M-5		0.00	0.00	0.00	0.00	0.00	0.00
	M-6		0.00	0.00	0.00	0.00	0.00	0.00
	Cert		0.00	0.00	0.00	0.00	0.00	0.00


				Page 29 of 29				© COPYRIGHT 2004 Deutsche Bank

NEW CENTURY HOME EQUITY LOAN TRUST 2004-1 8-K