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To: reaper who wrote (198228)	10/18/2002 7:51:14 AM
From: orkrious	Read Replies (1) \| Respond to of 436258

why do they release this stuff at 2 in the morning? New Century Reports Record $1.95 EPS for 3Q02 Up 141% Over 3Q01 biz.yahoo.com Reaper, can you help me understand how buying a pool of higher delinquency loans back help increase their cash flows? <g/ng> As illustrated above, we elect to repurchase loans in order to maximize cash flows from our residual interests that may otherwise be delayed due to loss or delinquency triggers. The pooling and servicing agreements typically require the repurchase of the most delinquent loans first. While the losses we recognize as a result of these repurchases are no less severe than if the loans had remained in the securitization trust, buying the loans from the pools allows us to accelerate cash flow and maximize the value of the residual interests.