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photo, Tim Anschutz
New Century Mortgage Corp., a subsidiary of New Century Financial Corp., one of the nation's premier full-service mortgage finance companies, has selected Guardian Mortgage Documents' Web-based Next Generation Input System to help its nationwide correspondent lending network enter the nonprime mortgage lending market.
Beginning in the first quarter of 2006, GMD will be supporting all loan programs for New Century Mortgage correspondents. In the first and second quarters of 2005, New Century was the No. 1 wholesale nonprime mortgage lender in the country, according to statistics compiled in our sister publication Origination News. With its recent acquisition of certain assets of RBC Mortgage Co., New Century is one of the nation's top 10 mortgage lenders.
"New Century Mortgage began working with GMD after sequential recommendations from trusted business associates," said Steve Cassill, vice...