(Reuters) - The Irvine, California-based company also said it entered agreements with regulators in Idaho, Iowa, Michigan and Wyoming to stop lending. These follow similar agreements with or orders from several other states, including California and New York, arising from New Century's failure to fund loans.
New Century said it decided voluntarily on Monday to stop selling or being the main servicer of loans for Freddie Mac, the second-largest U.S. home loan financier. Fannie Mae , the largest financier, cut off its own ties with New Century earlier this month, saying the company breached some contracts.
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