NYSE Reviewing New Century Listing

Shares are delayed at the NYSE open after losing half their value in premarket trading.
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Updated from 9:55 a.m.

Trading in shares of

New Century

(NEW) - Get Report

was halted Monday as the

New York Stock Exchange

reviews the company's listing status.

The NYSE said in a midday press release that it could either suspend trading or resume it, depending on what its review determines. The Big Board said its examination is "due to the review of recent disclosures involving the company's ongoing liquidity and financing efforts."

Opening in the shares was delayed after a New Century regulatory filing earlier Monday outlined the subprime mortgage lender's liquidity crunch. The filing said Morgan Stanley withdrew its financing on Friday, just a day after the big New York firm kept New Century afloat with a $265 million package.

Other lenders including Citi, Credit Suisse and Bank of America delivered default notices last week, New Century said.

Shares, which dropped some 80% last week alone as the company disclosed a criminal probe of its accounting and securities trading, lost half their value in premarket trading, sliding $1.61 to $1.60.

Other players in the business of lending to homebuyers with poor credit histories were tanking as well.

NovaStar

(NFI)

dropped 69 cents to $4.55,

Fremont General

(FMT)

slid $1.10 to $6.93 and

Accredited

(LEND) - Get Report

slipped $3.29 to $12.49.