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Home » Companies » Mortgage Companies
New Century Mortgage Corporation
About New Century Mortgage Corporation
New Century Mortgage Corporation is not one of the main mortgage companies that we work with... they are not as big as others. We have , although been very successfully at getting our clients foreclosure issues resolved. Let us give you the foreclosure help you need and allow us to stop your foreclosure.
From their website:
"New Century Mortgage Corporation is a specialty finance company that originates, purchases, sells, and services mortgage loans secured primarily by first mortgages on single-family residences. Headquartered in Irvine, California, New Century Mortgage Corporation is a wholly owned subsidiary of New Century Financial Corporation, a publicly traded real estate investment trust (NYSE: NEW)."
Legal Issues
Mar 2, 2007 - New Century says it faces criminal probe.Here is the full article:
Subprime-mortgage lender warns it will likely breach lending covenant.
Lenders do not grant the requested waivers, the company is likely to be forced to sell or shut down.'
— Zack Gast, CFRA
"Subprime lenders without deposits depend on their warehouse lines," said Zack Gast, a financial sector analyst at the Center for Financial Research and Analysis, a research firm. "If New Century's lenders do not grant the requested waivers, the company is likely to be forced to sell or shut down."
www.marketwatch.com
Checked Better Business Bureau: Yes
Better Business Bureau Issues
From the BBB website:
"This company has an CC rating"
"Complainants allege a variety of allegations concerning selling practices. billing and other service related issues that are typical in number and nature for this industry. Many complainants allege the company fails to credit payments made when loans are sold or transferred to other companies, resulting in negative entries on credit reports. Other customers complain the company fails to honor referral incentives offered, or that some loans are denied despite promises by loan officers that loans were already approved. In some cases, customers complain that the actual loan agreement was written differently then previously discussed, and they were asked to sign with promises of changes at a later date."
New Century Mortgage Corporation's Contact Information
| Web Site: | newcentury.com |
| Phone: | 877.996.5626. |
| Address: | 18400 Von Karman Irvine CA 92612 |
New Century Mortgage Corporation Success Stories from our clients:
We would like to demonstrate to you what we call success. When we save someone's home they are approved for a "Workout" with their Mortgage Company. The Mortgage Company will forward a contract for the client to sign going over the terms of the workout. This workout has many different options and terms. This is a small sample of some of the workouts we have negotiated for our clients and should give you an idea of what we can do for you. Please call us if you have any questions.
Files & Photos
| File Name | Description | Size (KB) |
|---|---|---|
 new-century-mortgage-repayment-plan-robert-1178036028843.pdf |
Repayment Plan | 103.23 |
Reader Comments & Ratings
Average Rating: 
(1.7/5)
by wanda From New Hartford, CT on June 10, 2009
we were also dupped by this company, we have been in court for three years because of all the fraud. please do not give up, do not walk away from your home ,keep fighting or they will be allowed to continue stealing homes from unsuspecting people like us. i am hoping that this will go to a cival suit, anyone heard of one started yet?
by Anonymous From Philadelphia, PA on May 28, 2009
I am working with the loan modification team who charged me $1299 to do nothing. I did it all on my own and they won't give me my money back.
by JJ From Greensboro, NC on May 04, 2009
If Karma is Real, My hope is that New Century will never be in Business again. This company sold our loan before the ink dried.And the company that they sold it to. Was the biggest Crooks in the Industry. I hope that this company feel every pain that they caused others.And I pray, that they Never make another profit in mortgages.
by michelle From Mansfield, OH on November 18, 2008
i agree that new century is one of the worst corporations to work with...bad customer service is being nice. I am a single mom with 3 kids and they pushed so fast and so hard 'because they wanted me to have this house' that i didnt realise there are 3 yes 3 different prices on my mortgage papers..then i was told that everything would be put on hold due to the fact that they didn't handle loans correctly. BEWARE OF THIS SO CALLED CORPORATION and to those who say 'i havent had any trouble' wait until you find yourself in the same situation im in. you will think differently.
by Anonymous From Mansfield, OH on November 18, 2008
when i did try to contact the mortgage company...i always got a busy signal when trying to get through and the couple times i did get through, i was treated and talked too poorly...like i didn't deserve to have my house. i've been very disappointed with this mortgage company and the fact that there are 3 different prices of my house in my mortgage papers.
by kimberly From Pasadena, MD on October 26, 2008
I also was scamed by this co. Has anyone recieved a refund on the company?
by Howard From Lake Villa, IL on September 15, 2008
Have you seen this company has been relaunched under new ownership with a partnership of 400 credit unions? Take a look.
by Anonymous From Baltimore, MD on August 27, 2008
You all got "taken" by this Company becuase you were looking for a "deal" without having to pay for it. You belived your loan officers becuase you wanted to. You should have educated yourselves and read your documentation and you should not have been so ready to get that almight dollar!!! Consumers get taken becuase because they let themselves. Sorry about your luck. Maybe next time you will stop, evaluate your financial situation, read the documents and ask questions!
by Brenda Smith From Milton, FL on June 15, 2008
Since I've never been late w/a payment, I've never had any problems w/this lender.
by Donna From Vallejo, CA on March 24, 2008
This company are scam artist in my eyes. They promise one thing and do another. They move so fast you cannot even think. We lost our home to them. Shame on us for trusting them and shame on them for forging signatures
by Anonymous From Clearlake, CA on March 17, 2008
I was in shock when I heard about the Bankruptcy with my mortgage co. New century I did'nt know what to do. I could'nt get ahold of themIeven had a mortgage broker here to help Know one return our calls I tried to it 3 different times nothing because of market. is there any thing I can do now. oh and new century promised to put me in another program so I could make my payments. they lied
by Johnny Leyva From Wildomar, CA on August 17, 2007
IF YOU ARE IN JOINT TENANCY WITH ANY OF CHILDREN, PLEASE DO NOT LET NEW CENTURY TALK YOU INTO SIGNING A QUIT CLAIM ON YOUR JOINT PROPERTY WITH YOUR SON/DAUGHTER, IF YOU WISH FOR THEM TO BE SUCCESSFUL IN BUYING THEIR OWN HOME. THIS CORPORATION SHOULD HAVE BEEN ON ONE OF MY BOMB TARGETS IN THE PACIFIC.
by Anonymous From Middletown, NJ on August 13, 2007
the worst thing is that they scammed us and then were so nasty on the phone would not workout a solution while we begged and pleaded greed has gotten the best of them we are in our home 20 yrs. until they entered our lives seems a bit shady they are the worst of the worst we hope they come to their senses
by Anonymous From Hesperia, CA on July 18, 2007
New Century Mortgage Corporation has bad service, rude customer support - They bought the loan from my Original Loan Company with out noticing me about it. Then they were rude about it when i asked. If im late for a payment, the representative goes crazy =/, its only 3 or so days late. They should sell their loans to some other company and retire while they still can.
by AMBER From Honokaa, HI on July 12, 2007
TERRIBLE CUSTOMER SERVICE, I HAVE TRIED WORKING WITH THEM AFTER BEING "TAKEN" ON A BAD LOAN AND THEY AREN'T WILING TO WORK AT ALL.
by Steve Mitchell From Thomasville, GA on July 09, 2007
SOLD MY LOAN UNDER A RE-INSTATE RESOLUTION.
by brian garceau From Citrus Heights, CA on May 25, 2007
New Century Mortgage Corporation is not willing to offer any solution
by anonymous From Middletown, NJ on May 01, 2007
New Century Mortgage Corporation has taken me to the cleaners too. I dreaded calling them they were so nasty and mean worse than the mafia am hoping we borrowers get our day in court, same goes for HFC
by Anonymous From Waretown, NJ on April 12, 2007
Poor customer service
by Anonymous From Tucson, AZ on April 02, 2007
We got taken to the cleaners and it was such a smooth scam. We are wiser now.
by thomas chimpky From Castro Valley, CA on March 22, 2007
Poor customer service... very rude and always made me dread calling them for any reason. They came across to me as loan sharks. They twice brought my wife to tears because of the way they treated her.
Rate or Comment on this Organization
Have you dealt with New Century Mortgage Corporation? If so please help others and let them know what you think about this organization.
There were some New Century employees that sued the company and got a settlement. Anyone know anything about this??? Or how much they got???