As filed with the Securities and Exchange Commission on
                                                   March 2, 2001
                                       Registration No. ________

================================================================

             SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549
                     ___________________

                          FORM S-8
                   REGISTRATION STATEMENT
                            UNDER
                 THE SECURITIES ACT OF 1933
                     ___________________

              New Century Financial Corporation
   (Exact name of registrant as specified in its charter)
                     ___________________

             Delaware                            33-0683629
(State or other jurisdiction of               (I.R.S. Employer
incorporation or organization)               Identification No.)

             18400 Von Karman Avenue, Suite 1000
                  Irvine, California 92612
          (Address of principal executive offices)
                     ___________________

  New Century Financial Corporation 1995 Stock Option Plan
                  (Full title of the plan)
                     ___________________

                       Brad A. Morrice
                 Vice Chairman and President
              New Century Financial Corporation
             18400 Von Karman Avenue, Suite 1000
                  Irvine, California 92612
           (Name and address of agent for service)
                     ___________________

Telephone number, including area code, of agent for service:
                       (949) 440-7030
                     ___________________

              CALCULATION  OF REGISTRATION  FEE
----------------------------------------------------------------
                             Proposed   Proposed
Title of                     maximum    Maximum
securities     Amount        offering   Aggregate      Amount of
to be          to be         price      Offering    registration
registered     registered    per unit   Price       fee
----------------------------------------------------------------

Common Stock,   500,000(1)   $9.25(2)   $4,625,000(2)  $1,157(2)
par value       shares
$0.01 per
share
----------------------------------------------------------------

(1)  This Registration Statement covers, in addition to the
     number of shares of Common Stock stated above, options and
     other rights to purchase or acquire the shares of Common
     Stock covered by the Prospectus and, pursuant to Rule
     416(c) under the Securities Act of 1933, as amended (the
     "Securities Act"), an additional indeterminate number of
     shares, options and rights which by reason of certain
     events specified in the New Century Financial Corporation
     1995 Stock Option Plan, as amended (the "Plan"), may become
     subject to the Plan.

(2)  Pursuant to Rule 457(h), the maximum offering price, per
     share and in the aggregate, and the registration fee
     were calculated based upon the average of the high and low
     prices of the Common Stock on February 27, 2001, as
     reported on the Nasdaq National Market System.

     The Exhibit Index for this Registration Statement is at
     page 6.
================================================================
<PAGE>
                           PART I

                 INFORMATION REQUIRED IN THE
                  SECTION 10(a) PROSPECTUS


     The documents containing the information specified in
Part I of Form S-8 (plan information and registrant
information) will be sent or given to employees as specified
by Securities Act Rule 428(b)(1).  Such documents need not be
filed with the Securities and Exchange Commission (the
"Commission") either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to
Securities Act Rule 424.  These documents, which include the
statement of availability required by Item 2 of Form S-8, and
the documents incorporated by reference in this Registration
Statement pursuant to Item 3 of Form S-8 (Part II hereof),
taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.

<PAGE>
                           PART II

                 INFORMATION REQUIRED IN THE
                   REGISTRATION STATEMENT


Item 3.  Incorporation of Certain Documents by Reference

     The following documents of New Century Financial
Corporation (the "Company") filed with the Commission are
incorporated herein by reference:

(a)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on August
     1, 1997 (registration number 333-32709).

(b)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on May
     27, 1998 (registration number 333-53665).

(c)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on July
     29, 1999 (registration number 333-84049).


Item 5.  Interests of Named Experts and Counsel

     The validity of the original issuance of the Common
Stock registered hereby is passed on for the Company by
Stergios Theologides, Esq.  Mr. Theologides is the Senior
Vice President, General Counsel and Secretary of the Company,
is compensated by the Company as an employee, is the holder
of options to acquire shares of Common Stock, and is eligible
to participate in the Plan.

Item 8.  Exhibits

     See the attached Exhibit Index at page 6.
<PAGE>
                         SIGNATURES

     Pursuant to the requirements of the Securities Act, the
registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Registration Statement to
be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irvine, State of California, on
the 2nd day of March, 2001.



                              By:  /s/ Brad A. Morrice
                                 -------------------------------
                                 Brad A. Morrice
                                 Vice Chairman and President



                      POWER OF ATTORNEY

     Each person whose signature appears below constitutes
and appoints Robert K. Cole and Brad A. Morrice, or either of
them individually, his true and lawful attorney-in-fact and
agent, with full powers of substitution and resubstitution,
for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-
effective amendments) to this Registration Statement, and to
file the same, with all exhibits thereto, and other documents
in connection therewith, with the Commission, granting unto
said attorneys-in-fact and agents, full power and authority
to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to
all intents and purposes as he might or could do in person,
hereby ratifying and confirming all that said attorneys-in-
fact and agents, or either of them individually, or his
substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.
<PAGE>
     Pursuant to the requirements of the Securities Act, this
Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.


     Signature                  Title                Date
     ---------                  -----                ----
/s/ Robert K. Cole
-------------------      Chairman and Chief        March 2, 2001
Robert K. Cole           Executive Officer
                         (Principal Executive
                         Officer)
/s/ Brad A. Morrice
-------------------      Vice Chairman,            March 2, 2001
Brad A. Morrice          President and
                         Director
/s/ Edward F. Gotschall
-----------------------  Vice Chairman, Chief      March 2, 2001
Edward F. Gotschall      Financial Officer and
                         Director (Principal
                         Financial and
                         Accounting Officer)
/s/ Terrence P. Sandvik
------------------------ Director                  March 2, 2001
Terrence P. Sandvik

/s/ Richard A. Zona
-------------------      Director                  March 2, 2001
Richard A. Zona

/s/ Michael M. Sachs
--------------------     Director                  March 2, 2001
Michael M. Sachs

/s/ Fredric J. Forster
----------------------   Director                  March 2, 2001
Fredric J. Forster

<PAGE>

                        EXHIBIT INDEX


Exhibit
Number               Description of Exhibit
-------              ----------------------

4.                   New Century Financial Corporation 1995
                     Stock Option Plan.

5.                   Opinion of Counsel (opinion re
                     legality).

23.1                 Consent of KPMG LLP (Consent of Independent
                     Auditors).

23.2                 Consent of Counsel (included in Exhibit 5).

24.                  Power of Attorney (included in this
                     Registration Statement under "Signatures").
[{"type": "S-8", "sequence": "1", "filename": "forms8.txt", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 9237}]
{"company-data": {"conformed-name": "NEW CENTURY FINANCIAL CORP", "cik": "0001036075", "assigned-sic": "6162", "irs-number": "330683629", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-56514", "film-number": "1560802"}, "business-address": {"street1": "18400 VON KARMAN", "street2": "SUITE 1000", "city": "IRVINE", "state": "CA", "zip": "92612", "phone": "7148637243"}, "mail-address": {"street1": "18400 VON KARMAN", "street2": "SUITE 1000", "city": "IRWINE", "state": "CA", "zip": "92612"}}
As filed with the Securities and Exchange Commission on
                                                   March 2, 2001
                                       Registration No. ________

================================================================

             SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549
                     ___________________

                          FORM S-8
                   REGISTRATION STATEMENT
                            UNDER
                 THE SECURITIES ACT OF 1933
                     ___________________

              New Century Financial Corporation
   (Exact name of registrant as specified in its charter)
                     ___________________

             Delaware                            33-0683629
(State or other jurisdiction of               (I.R.S. Employer
incorporation or organization)               Identification No.)

             18400 Von Karman Avenue, Suite 1000
                  Irvine, California 92612
          (Address of principal executive offices)
                     ___________________

  New Century Financial Corporation 1995 Stock Option Plan
                  (Full title of the plan)
                     ___________________

                       Brad A. Morrice
                 Vice Chairman and President
              New Century Financial Corporation
             18400 Von Karman Avenue, Suite 1000
                  Irvine, California 92612
           (Name and address of agent for service)
                     ___________________

Telephone number, including area code, of agent for service:
                       (949) 440-7030
                     ___________________

              CALCULATION  OF REGISTRATION  FEE
----------------------------------------------------------------
                             Proposed   Proposed
Title of                     maximum    Maximum
securities     Amount        offering   Aggregate      Amount of
to be          to be         price      Offering    registration
registered     registered    per unit   Price       fee
----------------------------------------------------------------

Common Stock,   500,000(1)   $9.25(2)   $4,625,000(2)  $1,157(2)
par value       shares
$0.01 per
share
----------------------------------------------------------------

(1)  This Registration Statement covers, in addition to the
     number of shares of Common Stock stated above, options and
     other rights to purchase or acquire the shares of Common
     Stock covered by the Prospectus and, pursuant to Rule
     416(c) under the Securities Act of 1933, as amended (the
     "Securities Act"), an additional indeterminate number of
     shares, options and rights which by reason of certain
     events specified in the New Century Financial Corporation
     1995 Stock Option Plan, as amended (the "Plan"), may become
     subject to the Plan.

(2)  Pursuant to Rule 457(h), the maximum offering price, per
     share and in the aggregate, and the registration fee
     were calculated based upon the average of the high and low
     prices of the Common Stock on February 27, 2001, as
     reported on the Nasdaq National Market System.

     The Exhibit Index for this Registration Statement is at
     page 6.
================================================================
PART I

                 INFORMATION REQUIRED IN THE
                  SECTION 10(a) PROSPECTUS

     The documents containing the information specified in
Part I of Form S-8 (plan information and registrant
information) will be sent or given to employees as specified
by Securities Act Rule 428(b)(1).  Such documents need not be
filed with the Securities and Exchange Commission (the
"Commission") either as part of this Registration Statement
or as prospectuses or prospectus supplements pursuant to
Securities Act Rule 424.  These documents, which include the
statement of availability required by Item 2 of Form S-8, and
the documents incorporated by reference in this Registration
Statement pursuant to Item 3 of Form S-8 (Part II hereof),
taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
PART II

                 INFORMATION REQUIRED IN THE
                   REGISTRATION STATEMENT

Item 3.  Incorporation of Certain Documents by Reference

     The following documents of New Century Financial
Corporation (the "Company") filed with the Commission are
incorporated herein by reference:

(a)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on August
     1, 1997 (registration number 333-32709).

(b)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on May
     27, 1998 (registration number 333-53665).

(c)  The Registration Statement on Form S-8 of the Company
     relating to the Plan filed with the Commission on July
     29, 1999 (registration number 333-84049).

Item 5.  Interests of Named Experts and Counsel

     The validity of the original issuance of the Common
Stock registered hereby is passed on for the Company by
Stergios Theologides, Esq.  Mr. Theologides is the Senior
Vice President, General Counsel and Secretary of the Company,
is compensated by the Company as an employee, is the holder
of options to acquire shares of Common Stock, and is eligible
to participate in the Plan.

Item 8.  Exhibits

     See the attached Exhibit Index at page 6.
SIGNATURES

     Pursuant to the requirements of the Securities Act, the
registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Registration Statement to
be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irvine, State of California, on
the 2nd day of March, 2001.

                              By:  /s/ Brad A. Morrice
                                 -------------------------------
                                 Brad A. Morrice
                                 Vice Chairman and President

                      POWER OF ATTORNEY

     Each person whose signature appears below constitutes
and appoints Robert K. Cole and Brad A. Morrice, or either of
them individually, his true and lawful attorney-in-fact and
agent, with full powers of substitution and resubstitution,
for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-
effective amendments) to this Registration Statement, and to
file the same, with all exhibits thereto, and other documents
in connection therewith, with the Commission, granting unto
said attorneys-in-fact and agents, full power and authority
to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to
all intents and purposes as he might or could do in person,
hereby ratifying and confirming all that said attorneys-in-
fact and agents, or either of them individually, or his
substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.
Pursuant to the requirements of the Securities Act, this
Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.

     Signature                  Title                Date
     ---------                  -----                ----
/s/ Robert K. Cole
-------------------      Chairman and Chief        March 2, 2001
Robert K. Cole           Executive Officer
                         (Principal Executive
                         Officer)
/s/ Brad A. Morrice
-------------------      Vice Chairman,            March 2, 2001
Brad A. Morrice          President and
                         Director
/s/ Edward F. Gotschall
-----------------------  Vice Chairman, Chief      March 2, 2001
Edward F. Gotschall      Financial Officer and
                         Director (Principal
                         Financial and
                         Accounting Officer)
/s/ Terrence P. Sandvik
------------------------ Director                  March 2, 2001
Terrence P. Sandvik

/s/ Richard A. Zona
-------------------      Director                  March 2, 2001
Richard A. Zona

/s/ Michael M. Sachs
--------------------     Director                  March 2, 2001
Michael M. Sachs

/s/ Fredric J. Forster
----------------------   Director                  March 2, 2001
Fredric J. Forster
EXHIBIT INDEX

Exhibit
Number               Description of Exhibit
-------              ----------------------

4.                   New Century Financial Corporation 1995
                     Stock Option Plan.

5.                   Opinion of Counsel (opinion re
                     legality).

23.1                 Consent of KPMG LLP (Consent of Independent
                     Auditors).

23.2                 Consent of Counsel (included in Exhibit 5).

24.                  Power of Attorney (included in this
                     Registration Statement under "Signatures").