The Mortgage Motivator: The perfect storm - how we got in it and how to get out of it

Brad A. Morrice named New Century CEOMortgagePress.comNew Century Financial Corporation New Century Financial Corporation has announced that Brad A. Morrice, current vice chairman, president and chief operating officer (COO), will become New Century CEO, effective July 1, 2006. Robert K. Cole, chairman of the board and current CEO, will continue to serve as executive chairman of the board. Morrice, one of the founders of New Century Financial Corporation, has been president since the inception of the company and has served as COO since 2001. From February 1994 to March 1995, he was the president and COO of administration of Plaza Home Mortgage, after serving as its executive vice president and chief administrative officer since February 1993. In addition, he served as general counsel and a director of Option One Mortgage. From August 1990 to January 1993, Morrice was a partner in the law firm of King, Purtich & Morrice, where he specialized in the legal representation of mortgage banking companies. He previously practiced law at the firms of Fried, King, Holmes & August and Manatt, Phelps & Phillips. He received his JD from the University of California, Berkeley (Boalt Hall) and holds an MBA from Stanford University. For more information, visit www.ncen.com.