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New Century Financial Corp. Voluntarily Parts Ways with Freddie Mac

03/27/2007 By: Kerri Panchuk Printer Friendly View

Irvine, California-based New Century Financial Corp. voluntarily severed its ties with Freddie Mac on Monday, according to the company’s latest filing with the Securities and Exchange Commission. The termination of the agreement means New Century Financial will longer be selling loans to the government-sponsored enterprise or servicing Freddie Mac loans. In the SEC filing, New Century also said it entered into consent agreements with the states of Idaho, Iowa, Michigan, and Wyoming. The four states are the latest to ask the lender to stop accepting new loans in their jurisdictions.

Author: Kerri Panchuk • Date: 03/27/2007

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