March 7, 2000 New Century Mortgage Corporation/NC Capital Corporation 18400 Von Karman Irvine, California 92612 Ladies and Gentlemen: Reference is made to the Letter Agreement, dated September 1, 1999 (the "Letter Agreement"), among New Century...Letter Agreement • March 30th, 2000 • New Century Financial Corp • Mortgage bankers & loan correspondents
Reference is made to the Letter Agreement, dated September 1, 1999 (the "Letter Agreement"), among New Century Mortgage Corporation ("New Century"), NC Capital Corporation ("NC Capital"), Salomon Brothers Realty Corp. ("SBRC") and Salomon Smith Barney ("Salomon"), pursuant to which SBRC and Salomon have made available to NC Capital an aggregation line with a limit of $750,000,000 in amount of mortgage loans. SBRC and Salomon hereby acknowledge that the amount of mortgage loans on the aggregation line in March 2000 will exceed the limit set forth in the Letter Agreement; provided, however, that each of the mortgage loans placed on the aggregation line which cause the aggregation line to be in excess of the $750,000,000 limit shall be securitized in a public securitization to be underwritten by Salomon which shall close no later than March 31, 2000.
EXHIBIT 10.47 THIRD AMENDMENT TO PLEDGE AND SECURITY AGREEMENT THIS THIRD AMENDMENT TO PLEDGE AND SECURITY AGREEMENT (the "Amendment") dated as of February 17, 2000 by and among NEW CENTURY MORTGAGE CORPORATION, a California corporation (the...Pledge and Security Agreement • March 30th, 2000 • New Century Financial Corp • Mortgage bankers & loan correspondents • Minnesota
