Feds Investigate New Century

Check this out...hot off the press: "The troubles at New Century are the latest sign of the deterioration in subprime lending — until recently the fastest-growing segment of the mortgage business. The market has been struggling to contain the fallout from rising default rates and weakening home prices. Late last year, some smaller lenders started going out of business and last month several bigger companies, including New Century, started reporting problems."

This is only a small part of a good article on the federal investigation launched against New Century. It's worth a read...and your comments!

http://www.nytimes.com/2007/03/03/business/03mortgage.html?_r=1&em&ex=1173070800&en=ce70c3a7d9b9bfb3&ei=5087%0A&oref=slogin