One day drop of 40% and it's not done dropping yet.
I'll be surprised if it remains solvent.
I'll be surprised if it remains solvent.
New Century Financial Down 40% Today
- Thread starter ByLoSellHi
- Start date
It all starts with a little snowball.
Is this NEW a good buy now?
"Last month's total mortgage loan production was $4.2 billion, up 5% from January 2006, according to the company. Non-prime loan production dropped 2.9%, to $3.4 billion from $3.5 billion.
However, the level of early-payment defaults and loan repurchases have led to tighter underwriting guidelines, according to New Century Financial. "
-2.9% drop in loan production. why stock down 40%?
"Last month's total mortgage loan production was $4.2 billion, up 5% from January 2006, according to the company. Non-prime loan production dropped 2.9%, to $3.4 billion from $3.5 billion.
However, the level of early-payment defaults and loan repurchases have led to tighter underwriting guidelines, according to New Century Financial. "
-2.9% drop in loan production. why stock down 40%?
All they do is buy subprime mortgages.
Really, really subprime ones....
Their troubles have only started.
FED is another one that will start restating in the second half of this yr