New Century Financial NEWCQ
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In the government's eyes, S&P's ratings stopped making sense
Feb 5 (Reuters) - Barely two weeks after the big subprime lender New Century Financial Corp went bankrupt, a top Standard & Poor's executive assured Congress that her employer could be counted on to...
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Goldman agrees to settle mortgage debt class action
NEW YORK (Reuters) - Goldman Sachs Group Inc has agreed to settle a class-action lawsuit with investors who claimed losses on $698 million of securities backed by risky mortgage loans issued by defunct subprime lender New Century Financial Corp.
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How Companies Are Putting Their Cash Hoards to Work
… under those shareholders when the practice became unsustainable as a result of weakened finances. For example, New Century Financial , a subprime-mortgage real-estate investment trust, offered a dividend yield of about 18% at the peak of the …
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Wall Street Breakfast: Must-Know News
… the Justice Department. Sources said federal criminal investigations into failed lenders IndyMac Bancorp and New Century Financial have stalled, although New York recently opened its own probe into IndyMac. In addition, Justice has closed …
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Federal probes of mortgage lenders fizzle: report
CHICAGO (Reuters) - Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street Journal reported on Saturday.
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Mortgage REIT Graveyard: Lessons From the Past
… REITs did not make it through the cycle or had their dividend eliminated (see list below). Thornburg Mortgage New Century Financial Apex Mortgage Fieldstone Investment Sunset Financial Capital Trust Ashford Hospitality Trust ECC Capital Gramercy …
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Dropping Coverage of New Century Financial
We are dropping coverage of New Century Financial NEWCQ to allocate our resources elsewhere.
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Sticking with Our MPG Fair Value
… 83% currently due to major tenant moveouts resulting from the subprime mortgage crisis. Major lenders like New Century Financial and Ameriquest Mortgage--together accounting for about 5% of Maguire's total square footage--filed …
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New Century Worthless
On Friday, New Century Financial NEWCQ announced that it believes equityholders will be left with nothing after its bankruptcy liquidation. At this point, its shares …
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Our Hovnanian Projections Intact
… value estimate. The recent collapse in the subprime lending market, culminating in Monday's announcement by New Century Financial NEWC that it would seek Chapter 11 bankruptcy protection, has carried over to homebuilders. In 2006, 20 …