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Subprime Stew Bubbles

Stock quotes in this article: WM , CFC , NFI , NEW , LEND  

Subprime mortgage lenders tanked again Monday as investors worried that problems among borrowers with weak credit histories could spread to healthier businesses.

Taking the biggest hit was New Century Financial(NEW Quote), which plunged 53% after the company said the Justice Department was investigating its accounting. Analysts said the lender could face funding problems.

New Century's latest setback sent shares of subprime rivals NovaStar(NFI Quote), Fremont General(FMT Quote) and Accredited Home Lenders(LEND Quote) down between 17% and 28%. ...

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