Sub-prime lender New Century to close

As most real estate investors know, New Century became the poster child for the sub-prime market. After filing for bankruptcy the company put itself up for sale. No bidders have come forward so the company is being closed. Quote below and a link to a more complete article.

Bankrupt subprime mortgage lender New Century Financial Corp. was unable to generate any bids for its mortgage loan origination business, resulting in the closure of the unit and the immediate termination of roughly 2,000 positions.

New Century Attracts No One, Lays Off Another 2,000 Mortgage Jobs


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