As expected, Brad A. Morrice has assumed the title of chief executive officer at New Century Financial Corp., an Irvine, Calif.-based real estate investment trust.Mr. Morrice, who will continue as the company's vice chairman and president, succeeds Robert K. Cole, who remains as New Century's chairman. The company announced the planned transition, effective July 1, in February. New Century can be found online at http://www.ncen.com.
Technology and customer service were the two largest categories within operational expenses last year, according to the Mortgage Bankers Association.
Bright partnered with real estate data and analytics platform HouseCanary to deliver exposure on Google at no additional cost or operational efforts.
The move may have been related to the government-sponsored enterprise's duration gap but could also have resulted from many other considerations.
The lawsuit is the third against a California-based mortgage company this month after revelations of another early-2026 incident at a wholesale lender.
The Bank of International Settlements compared the recent AI investment frenzy to the canal mania of the 1830s, the British railway craze of the 1840s and the dot-com boom of the late 90s.
Fake jumbo mortgages are helping non-agency securitization growth, but these loans could have higher than expected delinquency rates, an analysis said.
