| Record March Production at New Century
First quarter also a record April 4, 2003 By MortgageDaily.com staff |
| Loan production at one of the country’s biggest subprime lenders jumped to a record level last month.
New Century Financial Corporation announced today that it funded $1.8 billion in March, 25% higher than last month and 83% higher than last year. The Irvine, California company’s chief executive officer said secondary market demand remains strong. “Loan production volume for the month of March and the first quarter were new records for the Company,” Robert K. Cole said. New Century was ranked as the fourth largest funder of subprime mortgages during the fourth quarter by National Mortgage News. The company says its borrowers typically have a good deal of equity in their properties, but may have had difficulty in dealing with traditional mortgage lenders. |
7 Refinance Strategies
Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...
