The major subsidiary of New Century Financial offers first and second mortgages to borrowers with impaired or limited credit histories. Its product offerings include adjustable- and fixed-rate home loans, home equity loans, debt consolidation loans, and mortgage refinancings. The company also does business as Home123. Following its parent company’s purchase of RBC Mortgage, the US-based home lending unit of the Royal Bank of Canada, New Century Mortgage saw its branch network grow to about 200 offices in 48 states.

New Century Mortgage non-prime borrowers typically have substantial equity in the property securing the loan, but may have special circumstances that lead to difficulty in conforming with the stricter borrowing guidelines of traditional mortgage lenders. Borrowers with impaired or limited credit profiles, difficulty verifying their income through conventional methods (due to self-employment or other circumstances), or higher debt-to-income ratios are valuable customers at New Century Mortgage. The company offers loan products that fit these borrowers’ needs, and they work with brokers every day to offer competitive loan programs to deserving individuals.