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The judge overseeing new century financial corp's bankruptcy has approved an asset purchase agreement that will allow the subprime lender to sell more than 200 loans to california mortgage company residential mortgage solution llc. In a court filing friday, former subprime giant new century financial corp said it is seeking an extension of a liquidation plan under its chapter 11 bankruptcy. New century financial, the us subprime mortgage lender, on monday filed for chapter 11 bankruptcy protection in the wake of a liquidity crisis triggered by a spike in problem loans.
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New century financial corporation (abridged) case study solution, new century financial corporation (abridged) case study analysis, subjects covered financial management internal controls mortgages securities supervisory boards by krishna g palepu, suraj srinivasan, ian cornell source:. New century financial corporation was a real estate investment trust that originated mortgage loans in the united states through its operating subsidiaries, new century mortgage corporation and home123 corporation. New century financial corp filed for chapter 11 bankruptcy protection monday in the largest collapse of a mortgage lender in the us housing downturn. New century financial detailed a new series of financial problems in a filing with the securities and exchange commission early monday.