State attorney general gets temporary restraining order against the troubled mortgage lender, claiming 'predatory' lending practices.
March 15 2007: 6:59 PM EDT
NEW YORK (Reuters) -- Ohio's attorney general joined officials from other states, barring troubled subprime mortgage lender New Century Financial Corp. from operating in the state.
On Attorney General Marc Danny's request, an Ohio judge late Wednesday issued a temporary restraining order prohibiting New Century (up $0.68 to $1.35, Charts) from soliciting consumers for broker services or mortgage loans, accepting loan applications and fees to process loans, initiating new foreclosures and pursuing pending ones and evicting consumers.
This is a little scaring!!!!!
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