New Century Financial Corp (fka NEWCQ)

[soupoftheday]

March 14, 2007 Dear Broker:
https://lounge.newcentury.com/cms/pdfs/nc.com/broker_letter.pdf
Effective immediately, New Century Mortgage Corporation and Home123 Corporation are unable to continue the origination
or funding of mortgage loans. No new loan applications are being accepted at this time.
To best serve your customers we ask that you place their loans, including those currently in our pipeline, with other lenders.
Please contact your account manager immediately to request loans be sent directly back to you. We are simultaneously
notifying all closing agents to cancel all closings and to return any funds and original documents to the party or parties
who submitted them.
If you are unable to place your loans with other lenders, we will attempt to assist you. However, this will require each of your
borrower’s consent.
Any questions or request for assistance should be directed to the account executive or account manager with whom you
have been working.
We regret having to take this action, and we are hopeful that our current situation can be corrected in the near future so
that we can continue to do business with you.
Thank you for your understanding.
Sincerely,
Robert Champion
EVP, Western Group Manager
Steve Lemon
EVP, Eastern Group Manager