New Century Warehouse Corp. has completed the purchase of certain assets (and the assumption of certain related liabilities) of Access Lending Corp., according to New Century Financial Corp., the Irvine, Calif.-based parent company of New Century Warehouse.Access Lending, Sugar Land, Texas, provides warehouse lending services to middle-market residential mortgage bankers. The purchase price was approximately $10 million in cash, and Access Lending is entitled to receive additional payments for two years, based on profitability, New Century said. New Century Financial, a real estate investment trust, can be found online at http://www.ncen.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry