New Century Buys Irwin Servicing Assets

New Century Mortgage Corp., a subsidiary of Irvine, Calif.-based New Century Financial Corp., has completed the purchase of certain assets (and the assumption of certain lease obligations) of Irwin Mortgage Corp.'s servicing operations, according to New Century Financial.The terms of the transaction were not disclosed. The operation will be managed by Carla Wise, and the servicing employees of Irwin Mortgage, based in Fishers, Ind., will join New Century Mortgage, New Century said. "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," said Kevin M. Cloyd, executive vice president of New Century Financial. The companies can be found on the Web at http://www.ncen.com and http://www.irwinfinancial.com.