New Century Financial Halts All Ohio Foreclosures; Fires 3,200, Flies For Ch. 11 Protection

The Enquirer (Cincinnati, Ohio) reported last week at cincinnati.com that:

• New Century Financial Corp. has agreed to halt all foreclosures in Ohio while state regulators and law enforcement officials determine if any of the loans violated predatory lending laws, Ohio Attorney General Marc Dann’s office said.

For more, see Lender halts Ohio foreclosures.

Los Angeles Business reports:

• New Century Financial Corp. has filed for chapter 11 bankruptcy and has agreed to sell its servicing assets and platform to Carrington Capital Management LLC and its affiliates for about $139 million, the company said Monday.
• It also announced plans to reduce its workforce by about 3,200, or 54 percent, immediately.

For more, see New Century files for bankruptcy, agrees to sell servicing assets.
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