Mortgage Daily

Published On: July 7, 2003
New Century Sees Upswing In Production

June Totals Best May

July 7, 2003

By MortgageDaily.com staff

June turned out to be the busiest month of the quarter for subprime lender New Century Financial Corporation.

The Irvine, California-based company reported $1.96 billion in production for June, soaring over May’s $1.918 billion as well as April’s $1.926 billion. The company said that its $5.8 billion in production for the second quarter is a new record, smashing the old one, set in the prior quarter, by 23 percent.

In the monthly production statement, New Century also said they have forward commitments for the sale of $3.4 billion in mortgage loans, subject to “standard contingencies.”

Compared to last year, June’s production represents an 88 percent increase in volume, the statement said. Second quarter 2003 outperformed 2002 by 79 percent, the statement said.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN