Record April Production at New Century
$1.9 billion up 75% from last year
May 6, 2003
By MortgageDaily.com staff
Loan production dwarfed last year’s April numbers at New Century Financial Corporation, according to the company’s most recent figures.
The California-based company reported $1.92 billion in loan production for April 2003, up 75 percent compared to the $1.1 billion generated in April 2002. Numbers were also up seven percent compared to the prior month, the report concluded.
The $1.92 billion constitutes a new record, said company chairman and CEO Robert K. Cole in the press release. “We remain confident that we will meet or exceed our $18 billion production target for 2003.”
The company is traded under the symbol NCEN on the Nasdaq and has been in the mortgage business for seven years.