$15.7 billion 4th quarter production
By MortgageDaily.com staff
1/9/2006

New Century Financial Corp. saw quarterly volume drop.

Mortgage originations were $5.3 billion during December, up $0.2 billion from November, the Irvine, Calif.-based company announced today. A year earlier, fundings were $1 billion less.

For the fourth quarter, New Century reported $15.7 billion production, off $1 billion from the prior quarter but $4.2 billion better than a year earlier.

During all of 2005, the real estate investment trust said volume was $56.1 billion, up from $42.2 billion in originations for 2004.

Production was up "25 percent excluding our newly-acquired operations," said Chairman and CEO Robert K. Cole in the statement.

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