New Century Financial Corp (fka NEWCQ)

[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