Tuesday, April 3, 2007

New Century files for chapter 11

New Century files for Chapter 11 bankruptcy (Reuters)

A man walks past the entrance to the corporate headquarters of New Century Financial Corporation in Irvine,California March 15, 2007. New Century Financial Corp. on Monday filed for Chapter 11 bankruptcy protection in the biggest collapse of a mortgage lender in the U.S. housing downturn. (Fred Prouser/Reuters)Reuters - New Century Financial Corp. filed for bankruptcy protection on Monday amid a surge in homeowner defaults, the biggest mortgage lender to collapse in the slumping U.S. housing market.


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