New Century Financial Corp (fka NEWCQ)

[Stock]

SECURITY DELETIONS
Dl Date Symbol Company Name Effective Date/Comments
8/4/2008 NEWCQ New Century Financial Corp. Common Stock 8/5/2008 Plan of Bankruptcy effective 8/1/2008 **

[norkel]

did this reverse split ? wow

[FORDGT]

Enter Symbol Here To Discover How Short Squeezes Can Make You Money!


In March, 2008 the (NEWCQ) New Century Financial Corp. SqueezeTrigger Price was $0.01. If you had purchased NEWCQ, the trade would have gained 598.11% as of today's price of $0.07. If you had traded 10,000 shares, you would currently have a gain of $634.00. Click Here to signup for SqueezeTrigger Alerts


((((( nice short pushing us now...)))

[FORDGT]

MY DREAMS DO COME TRUE FROM A PENNY TO 7 CENTS TODAY AND I'M STILL HOLDING THIS ONE IS A WINNER !!! SEE YOU AT .15 CENT A BUUUUYY......http://stockcharts.com/h-sc/ui?s=NEWCQ&p=D&yr=0&mn=0&dy=10&id=p23235180782
http://quotes.barchart.com/texadv.asp?sym=NEWCQ

In March, 2008 the (NEWCQ) New Century Financial Corp. SqueezeTrigger Price was $0.01. If you had purchased NEWCQ, the trade would have gained 560.38% as of today's price of $0.07. If you had traded 10,000 shares, you would currently have a gain of $594.00. Click Here to signup

[Bigstud is here]

up to .075 with vol 2,117,726 .

[makesumgravy]

http://finance.yahoo.com/q?s=NEWCQ.PK

[makesumgravy]

http://finance.yahoo.com/q?s=NEWCQ.PK

[FORDGT]

THIS ONE IS INDEED A LONG SHOT ... BUT EVEN A FEW 100 SHARES COULD PAY OFF BIG IF THIS REBOUNDS... I'M HOLDING AND TODAY LOOKS GOOD... http://stockcharts.com/h-sc/ui?s=NEWCQ&p=D&yr=0&mn=0&dy=9&id=p41623967105

[pelicaninnc]

Up over 200% so far this year and that comes on just 10 trading days.

[FORDGT]

NEW SYMBOL IS NEWCQ
OH YEAH IN THIS ONE AT A PENNY AND IT WILL SOON LITE THE STAGE....http://stockcharts.com/h-sc/ui?s=NEWCQ&p=D&yr=0&mn=0&dy=10&id=p62245621133

http://stockcharts.com/h-sc/ui?s=NEWCQ&p=W&yr=0&mn=0&dy=10&id=p07219039617

[tradetracker]

I was wondering the same thing

[stokednvegas]

what's suddenly up with this stock?

[tradetracker]

http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3D%5C2007%5C07%5C05%5CEDGARNew...

[pelicaninnc]

lol. 100% agreement. more smacks the bettter.

[tradetracker]

Some more ass activity would be nice.

[pelicaninnc]

queitly waking up. some ask activity coming in.

[tradetracker]

[tradetracker]

I also like this stock

[zoot19]

thx,i aprecitate your alert.
i like newc also.
regards.

[stokednvegas]

Heard any rumors to substantiate that a private equity will do a buyout of NEWC?

I heard it just happend to another subprime lender.

This stock is down, but definately not out.

[zoot19]

VINDICATORS i tell you about my last picks.
RMVN i told to buy at 0,0004-----sold at 0,0007
SBMI the best for trading-range 0,0014-0,006 and may gou to 0,10---i made 7 great trades on it,is very easy to trade.
PRHB-i bought at 0,0003-now is at 0,0005 and 0,0007
WGLTE eventually will do the same as prhb or even better.
so look my history and dont tell im misleading,cause most
of other stocks fallen big in this period.

[was WALL STREET KID]

New Century Faces Lawsuit From Deutsche Bank Unit
Dow Jones Newswires - April 26, 2007 4:18 PM ET


Related Quotes
Symbol Last Chg
NEWC Trade 0.94 -0.02
Real time quote.



By Carol McCleary

Of DOW JONES NEWSWIRES



A Deutsche Bank unit that bought hundreds of millions of dollars worth of home loans from New Century Financial Corp. (NEWC) is suing the struggling subprime lender to force it to turn over documents and income tied to some of the loans.

The lawsuit, filed Wednesday by DB Structured Products Inc., or DBSP, marks the third such suit New Century has been hit with since entering Chapter 11 protection April 2.

DBSP contends that New Century may not have handed over all loan payments it has received while servicing the loans on behalf of the Deutsche Bank unit. The unit is seeking immediate access to the records tied to 235 loans that New Century transferred to it on March 6 to satisfy a $14.1 million margin call.

"The greater the delay in the turnover of these records, the greater the risk that the value of (all the purchased loans) will be impaired due to servicing issues, asset management issues, as well as an increasing likelihood of defaults and delinquencies," DBSP said.

New Century, however, contends that the 235 loans were wrongly transferred, and it sent a letter to DBSP on March 30 demanding their return.

The transferred loans continue to be listed among the other loans New Century has placed on the auction block, and the lender has refused to segregate and turn over funds received on account of such loans, the lawsuit said.

Some of the home loans at issue are entitled to be federally insured or guaranteed, but DBSP said that it must provide documentation of the loans before the government will back them.

New Century is still servicing some of DBSP's loans, including the transferred loans, and receiving payments related to them. DBSP said, however, that there are "discrepancies" between the amounts it has received from the company and what it believes it should have gotten on account of the loans.

The suit seeks to force New Century to turn over to DBSP all of the purchased loans, any related mortgage payments, and all records needed for DBSP to transfer servicing of - and gain control over - such loans.

The company is facing similar lawsuits from two of its other loan buyers, Alaska Seaboard Partners L.P. and UBS Real Estate Securities Inc. Alaska Seaboard, a Eureka, Calif., mortgage broker, filed suit against New Century on April 16, seeking to recover about $500,000 in mortgage payments and obtain documents tied to the loans it bought from the company.

New Century sold home loans to Alaska Seaboard on Feb. 28 and agreed to transfer servicing of the loans to Alaska Seaboard's servicer, SN Servicing Corp. on March 21.

Despite repeated requests, the company hasn't, Alaska Seaboard said, turned over the $497,623 in loan payments it received on account of the transferred loans.

UBS, a New York provider of financing to home lenders, claims New Century misappropriated at least $3.8 million of mortgage payments collected on UBS-owned loans.

In an April 5 lawsuit, UBS said that New Century hasn't complied with its requests to deposit the missing millions into its account, nor has the company provided an accounting of all payments received on UBS-owned loans.

New Century, of Irvine, Calif., is one of a growing number of subprime mortgage lenders that have collapsed into bankruptcy in recent months. It filed for Chapter 11 protection in Delaware early this month and is on a fast track to sell its assets.

[Hawaii-x]

FYI RHWC had a nice round of buying today. Something is up... Its probably going to run from here.

[makesumgravy]

Its over for Newc. We never ever know till its to late that even the most highlighted stars of Wall St, like Enron and Tyco etc can be hit hard with negative news. You invest go to work and its looking great, come home and 75% of your investment can be gone. At $30+ and 1000 shares can be a tremendous blow and loss for those who worked hard and had a little more to invest.

[Hawaii-x]

Looks like some of these mortgage companies are going to get saved.

Looking for LEND to go back to $12-$13 by summer.
Looking for NEWC to probably go BK or acquired (but, at a loss for shareholders from here)
Looking for CFC back to $40
Looking for BAC back to $37
Superstar pick will be RHWC. News cycle is coming. Should have a great run.

[makesumgravy]

OT: The market has outgrown the Sec in such a way that it makes them and obsolete entity and this is the problem. What is needed is and entity to supersede them. One that is disconnected with political ties like Cox, who plays to big business and Wall Street. GS, JP Morgan, and all the Power Brokers have more power than the DTC and the Sec combined. What occurs do to this is corruption in the highest of places and we see the end result.

If this weren't the case the 15% wouldn't have 85% of all the wealth in this country. Where the big money is, so also are the decisions made that run the markets. It breeds corruption and it extends from there to DC. and creates a sewer full of corrupted politicians, lobbyist and Washington bureaucrats, republican and democrats alike.

Its been there since the 20's and is with us today. We see the effects of it in everyday life. Today its all about money people fighting over the scraps or the other 15%, more than anything else. This is the reason why our government and our country is on a collision course that will have long lasting effects when the party is over. Who will be there then to pick up the pieces?

Our country has so many problems on so many levels and nobody is fixing them. Its like a cancer that has mis diagnosed and surfaces only when its to late.

Money won't help even the richest when this window opens. Turn on the TV and CNN daily and its like a warning signal telling us the seriousness of this (play), and the prop men keep following the directors orders till the final curtain comes down.

Society is setting the stage as we become more and more a Godless nation whose only desires are to obtain more things at any cost.

We can see what happens when the money and power struggles are going on for years in DC. We get caught with our pants down and the likes of Bin Laden was given the football. Not Saddam, he was nothing more than a fall guy.

What we don't have are the really brillant people who possess good common sense to run this country. The ones who could break this chain and get this nation moving in the direction to regain what will be lost forever.

The people are out there we listen to some, people like Lou Dobbs who I believe could be a President who serves 4 years and we want to give him another 4.....If we had another 600 people in Congress who care and love this nation and what if should represent we could get us moving on the right path following the Beacon light of right.

There are plenty people who are every bit as brilliant and 100% of American who care about our nation, but the problem is they aren't stepping up to the plate. It takes people who can take a position, who are willing to pursue this, and willing to give it their best, and sacrifice themselves for the good of this nation. I'm afraid its not gonna happen, and we will continue down the beaten path we have been on for the last almost 50 years.

Remember in the 20's what people we were doing before the walls caved in on everyone. Will history repeat itself? How will we get out of it next time around?.......should have

I should have pm'd this and if we get to far off the topic we have to.......Whether its NewC or our Govt that fails if nothing changes nothing changes.

[rocketrice]

Don't be left on the caboose!!!!

[Vindicators]

The SEC doesn't have the staff or manpower...they have around 3,000 legal staff that covers over 100,000 publicly traded companies in the US, Canada and overseas....you cannot regulate people into being ethical...its a personal choice. You can force them to be moral and do the right things with laws and so fother but in the end the final decision to be ethical rests with the individual and 99% of all bankers, brokers and realtors are not honest...if they were they would see the damage they cause to other humans with their acts of "lending" (which is another word for greed) and quit the business. Flipping burgers or pumping gas is a more honest profession than car salesman or mortgage executive...

[makesumgravy]

Agree. The lenders and the borrowers all get caught up in it and will pay big time down the road. No escape.

The Sec should have been on top of this long before it hit the news and the IRS.

[Vindicators]

Me thinks you justify for people who don't pay their bills and the fool lenders who loan money to them...both are criminal enterprises...people who don't pay their bills do not deserve credit...it is that simple. Lenders who loan money to people who don't pay their bills are bigger fools and deserve everthing they get...homelessness, poverty, corruption, embezzlement, jail...you name it...they deserve it! That includes those government officials who looke the other way while corruption was crawling right up their asses!

[makesumgravy]

Newc sounded good on the surface. I like what they were attempting to do. The ones that finally got that home thru them and lost it will probably never ever have and opportunity such as that again. The have done so much more damage to their credit they will always have things that will need to cleared up before ever being considered again. This and them establishing good credit that takes years to do.

[Vindicators]

Don't worry about me....I'm waiting for WAMU to drop the other foot...

[makesumgravy]

I would stay away!!

[Vindicators]

It might do a dead cat bounce...but I agree...it is heading into the sub penny range eventually...as soon as they sell off all their assets...it will become a public shell..

New Century Financial Corp. (Other OTC:NEWC.PK - News), the largest U.S. subprime lender in bankruptcy, won the right to sell about 2,000 mortgages to a unit of Royal Bank of Scotland Group Plc (LSE:RBS.L - News) for $47.3 million, and make $7.34 million of incentive payments to loan workers.

U.S. Bankruptcy Judge Kevin Carey in Wilmington, Delaware, on Thursday authorized the sale of the mortgages to RBS' Greenwich Capital Financial Products Inc. unit, provided that no bidders make competing offers in an auction scheduled to end April 30.

The $47.3 million purchase price was reduced from an original $50 million. New Century would pay Greenwich Capital a $945,000 break-up fee if another bidder wins the mortgages.

Carey also authorized the payment of wages and benefits that workers earned before New Century filed for Chapter 11 bankruptcy protection on April 2.

These payments don't cover workers with the rank of senior vice president or higher, provided that New Century obtains releases from such employees, Carey wrote.

The payments are also separate from $6.3 million of bonuses that New Century wants to pay executives and other key employees for selling assets. The company has said it needs to sell major assets by mid-May so they don't lose value.

New Century had been the largest independent U.S. provider of home loans to people with poor credit histories.

It collapsed amid rising delinquencies and defaults, a federal criminal probe and demands by at least 17 U.S. states that it stop lending. The company fired 3,200 employees on April 2.

New Century agreed to sell its loan servicing unit to hedge fund Carrington Capital Management LLC for $133 million. It is trying to sell its loan origination unit but has not disclosed any bids.

New Century shares were unchanged at 89 cents in morning trading on the Pink Sheets.

[Vindicators]

I agree with you...

New Century Financial Corp. (Other OTC:NEWC.PK - News), the largest U.S. subprime lender under bankruptcy protection, said on Monday Massachusetts' attorney general has demanded documents relating to its lending practices.

In a U.S. Securities and Exchange Commission filing, New Century said the office of Attorney General Martha Coakley issued the civil investigative demand in connection with its authority to enforce consumer protection statutes. New Century said it is cooperating with the investigation.

Irvine, California-based New Century had been the largest independent U.S. provider of home loans to people with poor credit histories before seeking Chapter 11 protection from creditors on April 2.

It collapsed amid rising delinquencies and defaults, a federal criminal probe, and demands by at least 17 U.S. states, including Massachusetts, to stop lending. The company is now trying to sell its major assets.

New Century shares closed Monday up 12.5 cents at 98.5 cents on the Pink Sheets

[Vindicators]

I think your information is highly misleading and false...

If you look at who is investigating this company you will know that they are in deep financial trouble...

[zoot19]

NEWC imo is the best op between all subprimes.
eventually sh price will go over 4$.
all is matter of time.

[makesumgravy]

I think Newc is going completely OOB. The company is selling off its assets and no one is gonna be picking up the kinda of debt its engulfed in. It will be just one of a dozen that's bit the dust. These type of mortgage loans are now a thing of the past. People will have to qualify like they have in the past. This is gonna be a long drawn out process. It will be a shell when the pickings are over.

[Hawaii-x]

If NEWC goes below $1 I think its all over. Won't come back up.

GO RHWC!

[makesumgravy]

My Vessel travels to all the islands habited and uninhabited. We just put one fellow here out to sea. He was warned that there were monsters out there, but he wouldn't believe it! LOL

[Den]

YOU EVERywhere !!

[ynotme]

Reading through http://www.ncenrestructuring.com it appears that NEWC will be history - broken up and sold off. Any way to figure out a valuation AND if shareholders will get shafted??

[stokednvegas]

It was up 32 cents today when I sold

What choo talking bout willis?

[shortsinthesand]

me thinks this stock in a heap of do do?

-shorts

[FAZZYBEAR]

Well boyzz, what do ya think of think ?

[makesumgravy]

The Meltdown- http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070402:MTFH16671_2...

[Yoda0629]

Newc's last 10k

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0000892569%252D06...

[Yoda0629]

anyone know NEWC's assets ?

[makesumgravy]

To the tune of $8bn, that's pretty size able. The company will get little help from pink sheet investors. How will the company finance this debt and expect to stay afloat?

[makesumgravy]

AP
New Century Seeks Chapter 11 Protection
Monday April 2, 11:38 am ET
By Gary Gentile, AP Business Writer
Subprime Lender New Century Files for Bankruptcy, Fires 3,200 People


LOS ANGELES (AP) -- Subprime mortgage lender New Century Financial Corp. filed Monday for Chapter 11 bankruptcy protection, and said it would fire 3,200 workers immediately to better position the company for a possible sale.
ADVERTISEMENT


Once the second-largest provider of subprime mortgages in the U.S. based on loan volume, the company fell on hard times amid a spike in mortgage defaults caused by borrowers unable to make payments.

New Century, based in Irvine, filed the bankruptcy action in U.S. Bankruptcy Court for the District of Delaware.

It said it has agreed to sell its loan servicing business to Carrington Capital Management LLC and its affiliate for approximately $139 million, subject to the approval of the bankruptcy court.

CIT Group and Greenwich Capital Financial Products Inc. have agreed to provide up to $150 million in working capital to facilitate the reorganization process, the company said.

More than two dozen subprime lenders have shut down in recent months and others are scrambling to stay in business.