October 27, 1999
The Irvine sub-prime mortgage lender said third-quarter net income increased 38% to a record $11.9 million, or 62 cents a share, from $8.6 million, or 57 cents a share, a year ago. Revenue gained 30% to $63 million.
CALIFORNIA | LOCAL
December 19, 1999
Double congratulations to the city of Fillmore for being named "the best community in the West" by Sunset magazine and for taking a political step toward becoming an even stronger community by repealing its pointless and divisive "English only" resolution. In 1985, Fillmore became the first city in the nation to declare English as its official language.
May 5, 2007 |
A hedge fund made a $58-million winning bid for the remaining mortgage portfolio of bankrupt sub-prime lender New Century Financial, topping five other offers, the fund and New Century creditors said Friday. Ellington Management Group's bid amounted to only 34 cents on the dollar but easily exceeded the $47.3-million price at which New Century last month agreed to sell the assets to a Royal Bank of Scotland unit.
September 29, 2007
Three directors of New Century Financial Corp., an Irvine-based sub-prime mortgage lender in bankruptcy, resigned from the firm's board of directors. Chairman Robert K. Cole and financial Vice Chairman Edward F. Gotschall, who helped start the company in 1995, quit the board Tuesday. A third director, Richard A. Zona, resigned Monday, according to a filing with the Securities and Exchange Commission.
May 26, 2007 |
Federal bankruptcy regulators urged a bankruptcy judge to expand the scope of a probe of New Century Financial Corp., the Irvine sub-prime mortgage lender that failed this year. Kelly Beaudin Stapleton, U.S. trustee for the Delaware court where New Century collapsed, on May 21 won the power to appoint an examiner, who has yet to be named, to look into the roots of the company's demise. But now the U.S.