Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MORRICE BRAD A
   2. Issuer Name and Ticker or Trading Symbol
NEW CENTURY FINANCIAL CORP [NEW] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice Chairman, Pres. and COO
(Last)
(First)
(Middle)
18400 VON KARMAN, SUITE 1000		 3. Date of Earliest Transaction (Month/Day/Year)
02/04/2005
(Street)

IRVINE,, CA 92612		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/04/2005   M   39,375 A $ 18.66 1,312,510 D  
Common Stock 02/04/2005   M   60,902 A $ 10.47 1,373,412 D  
Common Stock 02/04/2005   M   102,463 A $ 6.65 1,475,875 D  
Common Stock 02/04/2005   F   74,887 D $ 52.59 1,400,988 D  
Common Stock               100,000 I By trust
Common Stock               18,154 I By daughter (1)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 18.66 02/04/2005   M     39,375   (2) 01/21/2013 Common Stock 39,375 (3) 73,125 D  
Stock Option (Right to Buy) $ 10.47 02/04/2005   M     60,902   (4) 02/27/2012 Common Stock 60,902 (3) 50,624 D  
Stock Option (Right to Buy) $ 6.65 02/04/2005   M     102,463   (5) 09/04/2011 Common Stock 102,463 (3) 78,750 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MORRICE BRAD A
18400 VON KARMAN, SUITE 1000
IRVINE,, CA 92612		   X     Vice Chairman, Pres. and COO  

Signatures

 Jennifer Jewett (Attorney-in-fact)   02/07/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These shares are owned by the Samantha H. Morrice Trust, the sole beneficiary of which is the reporting person's daughter.
(2) This stock option grant vested 20% on January 21, 2004, the first anniversary of the grant date, with an additional 5% vesting on the last day of each succeeding calendar quarter thereafter. The final 5% increment will vest on the fifth anniversary of the grant date. The portion of this stock option grant exercised by the reporting person on February 4, 2005 vested as follows: 22,500 shares on January 21, 2004 and 5,625 shares on each of June 30, 2004, September 30, 2004 and December 31, 2004.
(3) This column is not applicable.
(4) This stock option grant vested 20% on February 27, 2003, the first anniversary of the grant date, with an additional 5% vesting on the last day of each succeeding calendar quarter thereafter. The final 5% increment will vest on the fifth anniversary of the grant date. The portion of this stock option grant exercised by the reporting person on February 4, 2005 vested as follows: 22,500 shares on February 27, 2003, 5,625 shares on each of June 30, 2003, September 30, 2003 and December 31, 2003, 4,652 shares on March 31, 2004 and 5,625 shares on each of June 30, 2004, September 30, 2004 and December 31, 2004.
(5) This stock option grant vested 20% on September 4, 2002, the first anniversary of the grant date, with an additional 5% vesting on the last day of each succeeding calendar quarter thereafter. The final 5% increment will vest on the fifth anniversary of the grant date. The portion of this stock option grant exercised by the reporting person on February 4, 2005 vested as follows: 27,268 shares on September 4, 2002 and 8,355 shares on the last day of each succeeding quarter thereafter until December 31, 2004.

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