Industry News

New Century moves to tighten underwriting, disclosure standards

Subprime lender responds to new federal guidelines
Published on Oct 13, 2006

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by CareyBot

Subprime mortgage lender New Century Financial Corp. says it will tighten underwriting and disclosure standards in response to new guidelines from federal regulators. New Century said it will also offer low-fee, 30- and 40-year fixed-rate loans to customers with adjustable-rate ...