The major subsidiary of New Century Financial offers first and second mortgages to borrowers with impaired or limited credit histories. Its product offerings include adjustable- and fixed-rate home loans, home equity loans, debt consolidation loans, and mortgage refinancings. The company also does business as Home123. Following its parent company’s purchase of RBC Mortgage, the US-based home lending unit of the Royal Bank of Canada, New Century Mortgage saw its branch network grow to about 200 offices in 48 states in 2005.
Loans Funded by New Century Mortgage Co.
- Home Equity Loans
- Refinance Mortgages
- 2nd Mortgage Loans
- Debt Consolidation Loans
- Home Equity Lines of Credit
- Bad Credit Mortgage Loans
New Century Mortgage non-prime borrowers typically have substantial equity in the property securing the loan, but may have special circumstances that lead to difficulty in conforming with the stricter borrowing guidelines of traditional mortgage lenders. Borrowers with impaired or limited credit profiles, difficulty verifying their income through conventional methods (due to self-employment or other circumstances), or higher debt-to-income ratios are valuable customers at New Century Mortgage. The company offers loan products that fit these borrowers’ needs, and they work with brokers every day to offer competitive loan programs to deserving individuals.
New Century Financial Corporation, a real estate investment trust and parent company of one of the nation’s premier full-service mortgage finance companies, announced that total loan production volume for November 2005 was $5.1 billion, representing a 42 percent increase compared with November 2004. as well as saying that total loan production volume for the third quarter of 2005 was $16.7 billion, representing a 67 percent increase compared with the same period in 2004.
The website and online applications for loans are very secure, New Century Mortgage uses Secure Socket Technology (SSL) to ensure that your information will not be accessed by anyone but authorized employees. SSL technology encrypts your data so that only the proper recipient can decode it. SSL authentication checks the identity of both the computer sending your information and the computer receiving it, in order to prevent unauthorized people and companies from accessing your data.
No one will have access to your borrower’s information unless that person is involved in the evaluating, processing, funding, or servicing of a loan to your borrower. This kind of security is growing more common, but New Century is considered cutting edge.
Mortgage Refinance is not necessarily affiliated with the mortgage lender featured on this page. Lender information is for informational or comparison purposes only. Home Equity Info makes no representation, express or implied, that you will receive a quote from any particular lender, and makes no guarantee as to the lender affiliation of any broker or agent who may contact you.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.