A bankruptcy examiner's report on New Century Financial Corp. accuses the Irvine company's auditor, KPMG, of allowing the company to change its accounting practices so it could report a profit rather than a loss in the second half of 2006.
Michael J. Missal, the bankruptcy examiner, said in the 581-page report that "New Century's loan [...]
Related Headlines
- Orange County continues to be ground zero for the subprime mortgage worldposted 79 weeks ago on Orange County Home Loan Blog
- Orange County Home Sales Fall to Lowest Level in 14 yearsposted 77 weeks ago on Orange County Home Loan Blog
- KPMG-New Century, “Bailout Nation” hot topics on Sundayposted 38 weeks ago on Mortgage Insider
- Orange County home sales fall - median home price holds steadyposted 80 weeks ago on Orange County Home Loan Blog
- Obama takes swipe at New Century, auditorposted 41 weeks ago on Mortgage Insider
- New Century?s top employees must share funds as bankruptcy nears a closeposted 27 weeks ago on Mortgage Insider
- Orange County’s PIMCO doesn’t like the looks of the housing marketposted 80 weeks ago on Orange County Home Loan Blog
- Orange County Homeowners: You Must Know Your Credit Scoreposted 76 weeks ago on Orange County Home Loan Blog
- Looking for the exit on subprimeposted 76 weeks ago on Mortgage Insider