Ailing subprime giant New Century Financial Corp. -- which is expected to file for bankruptcy protection in the next week -- said it has voluntarily terminated its seller/servicer eligibility with Freddie Mac.However, according to a Freddie Mac spokeswoman, the Irvine, Calif.-based mortgage banker never sold a whole loan to the secondary market investor. "They did have a seller/servicer designation with us but we never bought a whole loan from them," she said. The spokeswoman noted, however, that Freddie may have bought a mortgage bond backed by loans funded by New Century.
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