Bankruptcy for New Century
Bloomberg.com is reporting (as are countless other sites) that New Century Financial Corp. has filed for Chapter 11 bankruptcy protection today in Wilmington, Delaware. Some of it’s largest creditors include Morgan Stanley, Goldman Sachs, and Credit Suisse according to the article.
They join a list few would like to be on: Ownit Mortgage Solutions Inc. of Agoura Hills, California; Mortgage Lenders Network USA Inc. of Middletown, Connecticut; ResMae Mortgage Corp. of Brea, California; and People’s Choice Financial Corp. of Irvine who are all other mortgage lenders who have have recently filed for
Chapter 11 protection.
With a recently started criminal probe in to accounting errors and securities trading this story will certainly get more exciting.
Technorati Tags: New CenturyFinancial Corp., bankrputcy, Morgan Stanley, Goldman Sachs, Credit Suisse, Ownit, Mortgage Lenders Network, ResMae, People’s Choice
