NCEN Gets Irwin's Shop

New Century Financial Corp. has closed on its purchase of Irwin Mortgage Corp.'s mortgage servicing shop, the company said in early January.

New Century said it had completed the purchase of certain assets and the assumption of certain lease obligations related to Irwin's servicing operations. Kevin Cloyd, executive vice president of New Century, said the company is excited about adding Irwin's servicing team to New Century's operations.

"We are delighted that Carla Wise, with her substantial loan servicing experience, will be managing this operation. This acquisition will allow us to increase scalability, reduce servicing costs and improve time-zone management while also expanding our expertise in servicing alt-A and prime mortgage loans," Mr. Cloyd said in a press release.

New Century Financial is a real estate investment trust that provides mortgage products to consumers through its subsidiaries New Century Mortgage Corp. and Home123 Corp. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com

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