| Business Summary | | New
Century
Financial
Corporation
is
a
specialty
finance
company
that,
through
its
subsidiaries,
originates,
purchases,
sells
and
services
sub-prime
mortgage
loans
secured
primarily
by
first
mortgages
on
single-family
residences.
The
Company
offers
both
fixed-rate
and
adjustable-rate
loans
(ARMs),
as
well
as
loans
with
an
interest
rate
that
is
initially
fixed
for
a
period
of
time
and
subsequently
converts
to
an
adjustable
rate.
Most
of
the
ARMs
originated
by
the
Company
are
offered
at
a
low
initial
interest
rate,
sometimes
referred
to
as
a
"start
rate."
At
each
interest
rate
adjustment
date,
the
Company
adjusts
the
rate,
subject
to
certain
limitations
on
the
amount
of
any
single
adjustment
and
a
cap
on
the
aggregate
of
all
adjustments. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | New
Century
Financial
Corporation
is
engaged
in
originating,
purchasing,
selling
and
servicing
subprime
mortgage
loans
secured
by
first
mortgages
on
single
family
residences.
For
the
six
months
ended
6/30/01,
total
revenues
increased
17%
to
to
$112.7
million.
Net
income
applicable
to
Common
totaled
$6.6
million
vs.
a
loss
of
$2.8
million.
Revenues
reflect
increased
gains
on
the
sale
of
loans.
Earnings
also
benefited
from
lower
interest
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert Cole, 54 Chairman,
CEO | $359K | Edward Gotschall, 46 Vice
Chairman, CFO | 358K | Brad Morrice, 44 Vice
Chairman, Pres, COO | 356K | Nicolette Allen, 47 Sr.
VP and Gen. Mang. of The Anyloan Company, a subsidiary of the Company | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|