Rodney M. Colombi has been promoted to executive vice president of corporate finance for New Century Mortgage Corp., Irvine, Calif., and David N. Kenneally has been promoted to senior vice president and controller.Mr. Colombi joined the company in 2002 and was most recently senior vice president of corporate development. He served previously as SVP at Countrywide Financial Corp. and held senior finance posts at H&R Block/Option One Mortgage Corp., Bank of America Consumer Lending and Trust Services, and Household, New Century said. Mr. Kenneally joined New Century in 2003 and was most recently vice president and controller. He was previously SVP and chief financial officer at Consumer Portfolio Services Inc. and held senior financial positions at LoanGenie.com and Fidelity National Financial. New Century can be found online at http://www.ncen.com.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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