Robert K. Cole

Robert K. Cole's House

The founder and former CEO of subprime lender New Century Financial, lives here.

New Century Financial Corporation was founded in 1995 by a trio of former managers at Option One Mortgage, including former CEO Brad Morrice and is headquartered in Irvine, California.

As of January 1, 2007, New Century had approximately 7,200 full-time employees and a market capitalization of $1.75 billion. FY 2005 net income was $417 million.

New Century was formerly listed on the New York Stock Exchange and is now trading on the over the counter pink sheets. By March 14, 2007, the day after the New York Stock Exchange delisted New Century Financial Corporation, the market capitalization value of its stock was less than $55 million.

The company went bankrupt and he was sued criminally.
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