New Century Financial
was halted Monday so the
New York Stock Exchange
could review the subprime lender's listing status. This pulled down others in the sector, such as
Accredited Home Lenders
, which lost a quarter of its value, falling $3.95 to $11.83 -- well under last week's $16.06 low point.
also sank $1.20, or 14.9%, to $6.83, and
slid 69 cents, or 13.2%, to $4.55.
lost ground as well, after predicting volatile near-term earnings due to current trends in the subprime sector. The firm said it shaved about 8% off its February subprime loan fundings from last year to $2.6 billion, which comes to roughly 7% of Countrywide's total mortgage loan fundings. Shares were losing $1.42, or 3.9%, to $34.68.
(OCFC - Get Report)
, a New Jersey-based savings bank, was also caught in the subprime landslide after announcing that its full-year 2006 earnings report, issued Jan. 18, didn't include a reserve for subprime-loan repurchasing in the event of early payment default. The bank will need to revise its numbers accordingly. Shares were down 90 cents, or 4.4%, to $19.70.
(ICE - Get Report)
was higher on word the commodities exchange will launch an electronic-trading platform for the New York Board of Trade in April. Shares were adding $2.26, or 1.7%, to $133.26.