New Century Closes Offices, Lays Off 200 Nationwide

New Century Financial Corp., an Irvine-based mortgage lender, said it has closed some unprofitable branches and laid off more than 200 employees nationwide, or about 12% of the company’s total work force. The company said the cuts, which occurred in the first three months of the year, were part of an effort to reduce overhead and improve efficiency. About 20 jobs were eliminated in Orange County, the spokeswoman said.