The Corner (Free subscription) | 08/10/2008
From a friend of mine in a related industry: Obama's letter to Paulson and Bernanke was written on March 22, 2007. 25 subprime lenders failed in February/March of 2007, and the largest subprime lender New Century Financial was teetering on collapse (it filed for bankruptcy five days after Obama's letter). His letter was a response to headlines, not some prescient call to action.
Geostrategy (Free subscription) | 30/09/2008
Sep 16, 2008 (BBC Monitoring via COMTEX) -- [Article by Luo Xi, Vice-President of Agricultural Bank of China: "The Evolution of the US Subprime Crisis and its Warning for China"] The US subprime mortgage crisis broke out in April 2007, hallmarked by the bankruptcy of the New Century Financial Corporation, the second biggest US subprime mortgage company; it spread from the real estate market to the...
Inbox Robot: Swiss Reinsurance News (Free subscription) | 06/09/2008
Feb. 8, 2007 The third-largest U. S. subprime lender, New Century Financial Corp., announces an expected Q4 2006 loss on the same day HSBC ...
24/7 Wall St. (Free subscription) | 13/08/2008
Subprime lenders like New Century Financial, Novastar, and, to a large extent, Countrywide Financial, learned a hard lesson in the dangers of operating... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The Washington Times (Free subscription) | 25/07/2008
LOS ANGELES | A federal grand jury is investigating mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Bancorp Inc., a person familiar with the situation told the Associated Press on Thursday.
New York Post (Free subscription) | 25/07/2008
A federal grand jury is investigating subprime mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Federal Bank, a person familiar with the situation told The Associated Press. Subpoenas seeking documents have...
Deseret Morning News (Free subscription) | 25/07/2008
A federal grand jury is investigating subprime mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Federal Bank, a person familiar with the situation told The Associated Press on Thursday.
kansascity.com (Free subscription) | 25/07/2008
LOS ANGELES | A federal grand jury is investigating mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Bancorp Inc., a person familiar with the situation told The Associated Press on Thursday.
Tampa Bay Online (Free subscription) | 25/07/2008
A federal grand jury is investigating mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Bancorp Inc., a person familiar with the situation told The Associated Press on Thursday.
Seattle Times (Free subscription) | 25/07/2008
A federal grand jury is investigating mortgage lenders Countrywide Financial, New Century Financial and IndyMac Bancorp, a person familiar...
San Fransisco Chronicle (Free subscription) | 24/07/2008
A federal grand jury reportedly is investigating the nation's largest subprime mortgage lenders, Countrywide Financial Corp., New Century Financial Corp. and IndyMac Federal Bank. Subpoenas have been issued in recent months to all three companies, seeking e-...
San Fransisco Chronicle (Free subscription) | 24/07/2008
A federal grand jury is investigating mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Bancorp Inc., a person familiar with the situation said Thursday. Subpoenas seeking documents have been issued to all three companies,...
DealBook (Free subscription) | 14/04/2008
What role did accounting firms play in the subprime debacle? The New York Times considers the example of KPMG, which audited mortgage lender New Century Financial before its sudden collapse. While accounting firms don’t exert legal or regulatory authority over their clients, they do bestow seals of approval, the way ratings agencies do. People in the [...]
Business Law Prof Blog (Free subscription) | 14/04/2008
The surprise failure of New Century Financial, one of the country's largest subprime mortgage lenders, has led to an all too familiar question -- how could the auditors have given the company a clean bill of health right up until...
Grumpasaurus.com (Free subscription) | 04/04/2008
Wow. Real hard times for some former subprime lending institution execs. Mysti was one of the last people out the door at New Century Financial, once the nation’s No. 2 subprime lender. She had been in charge of e-commerce customer service with dozens of employees reporting to her. It was at New Century where the [...]
