Trading in New Century Financial (NEW Quote) 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 (LEND Quote), which lost a quarter of its value, falling $3.95 to $11.83 -- well under last week's $16.06 low point.
Fremont General (FMT Quote) also sank $1.20, or 14.9%, to $6.83, and NovaStar Financial (NFI Quote) slid 69 cents, or 13.2%, to $4.55.
Countrywide Financial (CFC Quote) 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. ...
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