AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Stocks Slide on Default Worries: That strategy of bailing out of debt problems by tapping into home equity will suffer now that home prices are not rising as quickly.
SACRAMENTO, CA -- Even before New Century went on the skids, the stocks of many publicly traded nonprime lenders were falling fast.
An Internet company that focuses on selling foreclosed homes says that all the attention currently being paid to rising defaults is behind the steep decline seen in some mortgage-related stock prices recently.
TheHomeBuyingCenter.com said that rising rates and slumping home prices were the two key factors behind the hit that companies such as New Century and HSBC recently have experienced.
New Century's stock price dropped by $10.92, or 36.2%, after the company reported accounting errors that caused the firm to inaccurately track how some mortgage loans have declined in value. That news hit the market on Feb. 7. Things haven't gotten any better since for New Century's shareholders. (See related story, page one).
...
- New Century Thrives in 2002 With Record Earnings.
- Magazine article from: Origination News Finkelstein, Brad April 1, 2003 700+ words
...During January, New Century funded $1.47 billion...Strong Buy ranking of New Century. In its note, Zacks...finances with a piece of New Century." Copyright 2003 Thomson Media Inc. All Rights Reserved.
- New Century Settles with Splinter Firm.
- Magazine article from: National Mortgage News October 6, 2003 700+ words
...is ranked second.) New Century actually sued twice...company. At one point, New Century alleged that Encore...had filed against New Century. Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www...
- At a Glance: New Century's 2nd Qtr Business.
- Magazine article from: National Mortgage News October 6, 2003 700+ words
Refinancing as % of Total: 77% Cash-Out as % of Refinancing: 80% Source: New Century Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.nationalmortgagenews.com
- New Century Benefiting From New Fraud Tool.(New Century Mortgage Corp benefits...
- Magazine article from: Origination News Kersnar, Scott April 1, 2006 700+ words
IRVINE, CA -- New Century Mortgage here reports...origination system, said New Century EVP Terry Theologides...seeing the results at New Century." (c) 2006 Origination...SourceMedia, Inc. All Rights Reserved. http://www...
- Proxy Battle at NCEN.(New Century Financial Corp.)
- Magazine article from: Origination News Finkelstein, Brad March 1, 2006 700+ words
...Thomas J. Edelman to New Century's board. Mr. Cohen...not own any shares in New Century. Mr. Edelman currently...He does not own any New Century stock. (c) 2006...SourceMedia, Inc. All Rights Reserved. http://www...
- New Century rejects loan applications amid cash crunch, bankruptcy rumors.
- Newspaper article from: Asset Securitization Report Pyburn, Allison March 12, 2007 700+ words
...term, the lack of New Century funding could cripple...subsequently higher payments. New Century needs to obtain waivers...a 6.3% stake in New Century. (c) 2007 Asset...SourceMedia, Inc. All Rights Reserved. http://www...
- New Century Grabs For Lifeline.
- Newspaper article from: Bank Loan Report Pyburn, Allison March 12, 2007 700+ words
...term," the lack of New Century funding could cripple...subsequently higher payments. New Century needs to obtain waivers...a 6.3% stake in New Century. (c) 2007 Bank Loan...SourceMedia, Inc. All Rights Reserved. http://www...
- With New Century, BOCM loan level data set to go live.
- Newspaper article from: Asset Securitization Report Donovan, Kevin August 18, 2003 700+ words
...Competitive pressures led New Century to offer both lower...regions within the New Century portfolio over these...than regions where New Century already had a foothold...Thomson Media Inc. All Rights Reserved. http://www...