New Century's Rapid Growth In The New Century

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New Century’s rapid growth due to their business model, helped them in the short run, but not in the long run. They relied on their subprime borrowers and offered them risky loan options and they grouped all these subprime borrowers together to reduce the risk of the loan pools. When these high-risk borrowers were not able to make their loan payments, the real estate market started to decrease and the interest rates increase, the borrowers were left with little options to get out of their loans. New Century not only had to deal with these external issues, but they also had many internal issues within multiple departments. New Century’s main focus was to sell the loans, and initiate as many as possible, but they failed the “service” side of
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