New Century Financial reported loan production totaling $10 billion in the third quarter 2004, an 18.7 decrease, compared with 2Q04, but a 15.8% increase from the same period a year ago. It also reported 2005 origination volume could top $45 billion. Of its 3Q04 production, 89.8% was originated via its wholesale channel, 81% being adjustable-rate product and 60.3% being refinance loans.
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