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House of cards?

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March 09, 2007 06:08PM
Today's news from a leading investment advisor:

New Century Financial, the second largest lender in the subprime mortgage market, announced late yesterday that it will not be accepting any new loan applications. The company hopes the move is temporary but cautioned that it may not be. It can't accept any new applications and originate additional loans because New Century's creditors are closing the funding faucet rapidly and are essentially forcing the company to put a halt to its operations. Its stock is in the midst of a bloodbath at the stock exchanges as it has fallen 80% since the beginning of the month. Until a couple of weeks ago, the $1.3 trillion subprime market was considered to be the 'party of century' but things have soured extremely quickly. So where does the overall subprime market go from here and can New Century actually rebound?
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Wizard 976February 28, 2007 10:29PM

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Wizard 748February 28, 2007 10:54PM

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Wizard 538February 28, 2007 11:36PM

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LaughingBear 613March 01, 2007 09:58PM

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Wizard 551March 02, 2007 08:16PM

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Wizard 735March 02, 2007 08:30PM

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Wizard 690March 02, 2007 09:45PM

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mojavegreen 670March 03, 2007 07:49PM

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Rick 760March 03, 2007 08:17PM

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mojavegreen 636March 03, 2007 08:51PM

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Wizard 572March 05, 2007 11:03PM

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mojavegreen 611March 06, 2007 07:31AM

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Paul P. 644March 06, 2007 05:27PM

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Wizard 632March 07, 2007 05:48PM

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Wizard 671March 07, 2007 07:07PM

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Wizard 598March 07, 2007 10:00PM

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Wizard 616March 09, 2007 01:35PM

House of cards?

mojavegreen 642March 09, 2007 06:08PM

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Wizard 538March 09, 2007 02:11PM

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Wizard 651March 10, 2007 09:32PM

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Wizard 1237March 10, 2007 10:10PM



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