Real Estate Law News
3/27/2008 10:30:56 AM EST
Court examiner says mortgage lender New Century created 'time bomb' with accounting practices
LOS ANGELES -- (AP) Bankrupt mortgage lender New Century Financial Corp. used improper accounting practices while making risky loans, creating "a ticking time bomb" that led to the company's rapid downfall, a court examiner said in a report released Wednesday. Full version available to lexis.com subscribers. Create an account or login to post comments.