New Century Finally Falls

Pyburn, Allison
April 2007
Investment Dealers' Digest;4/9/2007, Vol. 73 Issue 14, p6
Trade Publication
The article presents information on New Century Financial Corp., which filed for bankruptcy protection in the U.S. Bankruptcy Court. CIT Group Inc. and Greenwich Capital Financial Products Inc. have agreed to provide $150 million for debtor-in-possession financing of New Century. It is stated that Carrington Capital Management LLC has offered $139 million for buying New Century's servicing assets, and Greenwich Capital Financial has offered to buy New Century loans and residual interests.


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