From my sources at New Century, Barclay’s Bank has agreed to forward $1 billion to New Century in order for it to meet some of the requirements of its warehouse line lending agreements. This should allow New Century to reopen the majority, if not all, of their currently suspended warehouse lines of credit.
I have not been able to find any press on this matter nor confirmation from any outside source, so please take this for what it is, an unfounded report from an informed employee of New Century.
Update: You can read a full article about this development here.
Disclosure: My company sells (should I say "did sell"?) a very, very small amount of loans to New Century.
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