New Century Financial Corporation Helps Revitalize Chicago's Auburn-Gresham
Community
New Century Partners With Neighborhood Housing Services of Chicago
IRVINE, Calif., Aug. 5 -- New Century Financial
Corporation (NYSE: NEW), a real estate investment trust and parent company
of one of the nation's premier mortgage finance companies, is proud to
participate today in the financial services industry's fifth annual
Community Build Day.
In Chicago's Auburn-Gresham community, New Century has partnered with
Neighborhood Housing Services (NHS) of Chicago, a NeighborWorks America
organization, to provide curb appeal improvements to homes on the 7600-7800
block of S. Throop Street. Approximately 170 New Century volunteers will
join Chicago community members and NHS on Saturday, August 5th to add
finishing touches to the outside of the homes, including landscaping,
painting and cleanup.
A luncheon ceremony will take place at 12:00 p.m. CDT in the St. Sabina
School gymnasium located at 7801 S. Throop St. In addition to
representatives from the Community Build Day partnering companies, Senator
Jacqueline Collins, Congressman Bobby Rush, Representative Mary Flowers,
Alderman Latasha Thomas and Father Michael Pfleger, Pastor of St. Sabina
Church will be in attendance at the ceremony.
"Giving back to the communities in which we live and work has been a
long-standing commitment at New Century," said Brad A. Morrice, President
and Chief Executive Officer of New Century Financial Corporation. "We are
very excited about the opportunity to work side-by-side with members of the
Chicago community to help revitalize this neighborhood."
New Century is one of 36 member companies of The Financial Services
Roundtable that have committed to help build/repair homes in 57 cities
across the United States, as well as participate in other activities aimed
at bettering the communities in which the member companies serve.
Funding for the project comes from New Century and The Financial
Services Roundtable. The City of Chicago has awarded grants to homeowners
to renovate their homes on S. Throop Street. National partners for the 2006
Community Build Day include Habitat for Humanity, NeighborWorks(R) America,
Rebuilding Together, America's Promise, USA Freedom Corps, and the Points
of Light Foundation.
"Community Build Day demonstrates to the public how the financial
services industry works 365 days a year to improve the cities which they
serve," said Steve Bartlett, President and CEO of The Financial Services
Roundtable. "The member companies of the Roundtable are competitors in the
marketplace, but this day shows our cooperation in the community."
New Century is also co-sponsoring a project in Tampa, Fla. today, where
more than 150 corporate and community volunteers will join Belmont Heights
Little League parents, children and CDC Tampa, Inc. to restore legendary
Belmont Heights Baseball Field.
About New Century Financial Corporation
Founded in 1995 and headquartered in Irvine, California, New Century
Financial Corporation is a real estate investment trust and one of the
nation's premier mortgage finance companies, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation. The company offers a broad
range of mortgage products designed to meet the needs of all borrowers. New
Century is committed to serving the communities in which it operates with
fair and responsible lending practices. To find out more about New Century,
please visit http://www.ncen.com.
About The Financial Services Roundtable
The Financial Services Roundtable represents 100 of the largest
integrated financial services companies providing banking, insurance, and
investment products and services to the American consumer. In our latest
Community Involvement Survey, financial services companies donated or
raised nearly $1.21 billion in direct charitable contributions, and
employees donated 5.2 million volunteer hours, the equivalent of a
workforce of 2,600 people.
About Neighborhood Housing Services of Chicago, Inc.
A nonprofit organization established in 1975, Neighborhood Housing
Services, Inc. is committed to offering Chicago residents affordable
resources so they can buy, maintain, and sustain their home. Since 1975,
NHS has assisted nearly 163,400 Chicagoans, loaned more than $400 million,
rehabbed more than 27,000 homes, educated more than 24,000 families, and
created more than 2,900 first-time homeowners. NHS has loaned and leveraged
investment of more than $1 billion in Chicago's neighborhoods and
established lasting partnerships with residents, lending institutions, the
City of Chicago, block clubs, insurance companies, corporations and
foundations so that families can protect and preserve their single biggest
investment-their home. NHS of Chicago is a charter member of the
NeighborWorks(R) America network, a network of 245 community development
organizations working in 4,400 communities nationwide to revitalize
neighborhoods with affordable mortgage financing and comprehensive
home-buyer counseling. For more information, visit http://www.nhschicago.org.
