April 2, 2007
Dear New Century Customer:
Today New Century Financial Corporation filed a voluntary petition under chapter 11 of the U.S. Bankruptcy Code. The Company will continue to operate through the bankruptcy process.
If you currently have a mortgage with New Century or Home 123, you should see no immediate impact on the servicing of your loan. Please be aware, you still need to make the monthly payments required by your note and mortgage.
We sincerely regret the impact our chapter 11 case may have on you, and we will do everything we can to help you find financing for your home.
Thank you again for your understanding and patience. Should you have further questions about New Century’s chapter 11 filing, please feel free to contact your loan officer or your broker or visit the new Restructuring Information section of our website at www.ncenrestructuring.com.
Sincerely,
Steve Lemon
EVP, Wholesale Production
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