TCR_Public/070623.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Saturday, June 23, 2007, Vol. 11, No. 147

                             Headlines

CALPINE CORP: Posts $93 Million Net Loss in April 2007
HANCOCK FABRICS: Files Schedules of Assets and Liabilities
NEW CENTURY: Capital Files Schedules of Assets and Liabilities
NEW CENTURY: Credit Files Schedules of Assets and Liabilities
NEW CENTURY: Home 123 Files Schedules of Assets and Liabilities

NEW CENTURY: Mortgage Files Schedules of Assets & Liabilities
NEW CENTURY: NCM Ventures Files Schedules of Assets & Liabilities
NEW CENTURY: NCORAL LP Files Schedules of Assets and Liabilities
NEW CENTURY: NC REO Files Schedules of Assets and Liabilities
NEW CENTURY: NC Residual III Files Schedules of Assets & Debts

NEW CENTURY: NC Residual IV Files Schedules of Assets and Debts
NEW CENTURY: Posts $4.3 Million Net Loss in April 2007
NEW CENTURY: TRS Holdings Posts $1 Million Net Loss in April 2007

                             *********

CALPINE CORP: Posts $93 Million Net Loss in April 2007
------------------------------------------------------

                     Calpine Corporation
            Consolidated Condensed Balance Sheet
                    As of April 30, 2007

                           ASSETS

Current assets:
Cash and cash equivalents                     $1,328,000,000
Accounts receivable, net                         796,000,000
Inventories                                      128,000,000
Margin deposits and other prepaid expense        528,000,000
Restricted cash, current                         315,000,000
Current derivative assets                        247,000,000
Other current assets                              81,000,000
                                              ---------------
Total current assets                            3,423,000,000

Property, plant and equipment, net            13,374,000,000
Restricted cash, net of current portion          178,000,000
Investments                                      197,000,000
Long-term derivative assets                      399,000,000
Other assets                                   1,049,000,000
                                              ---------------
Total assets                                  $18,620,000,000
                                              ===============

            LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
Accounts payable                                $548,000,000
Accrued interest payable                         217,000,000
Debt, current                                  5,001,000,000
Current derivative liabilities                   399,000,000
Income taxes payable                              36,000,000
Other current liabilities                        355,000,000
                                              ---------------
Total current liabilities                       6,556,000,000

Debt, net of current portion                   3,122,000,000
Deferred income taxes, net of current portion    599,000,000
Long-term derivative liabilities                 524,000,000
Long-term liabilities                            300,000,000
                                              ---------------
Total liabilities not subject to compromise    11,101,000,000
Liabilities subject to compromise              14,969,000,000

Minority interests                                268,000,000
Stockholders' equity (deficit):
Common stock                                       1,000,000
Additional paid-in capital                     3,269,000,000
Additional paid-in capital, loaned shares         91,000,000
Additional paid-in capital, returnable shares    (91,000,000)
Accumulated deficit                          (10,930,000,000)
Accumulated other comprehensive loss             (58,000,000)
                                              ---------------
Total stockholders' deficit                    (7,718,000,000)
                                              ---------------
Total liabilities and stockholders' deficit   $18,620,000,000
                                              ===============

                     Calpine Corporation
       Consolidated Condensed Statement of Operations
             For the period ending April 30, 2007

Revenue:
Electricity and steam revenue                   $422,000,000
Sales of purchased power and gas
    for hedging and optimization                  146,000,000
Mark-to-market activities, net                     2,000,000
Other revenue                                      3,000,000
                                                -------------
Total revenue                                     573,000,000

Cost of revenue:
Plant operating expense                           61,000,000
Purchased power and gas expense
    for hedging and optimization                  114,000,000
Fuel expense                                     292,000,000
Depreciation and amortization expense             39,000,000
Operating plant impairments                                0
Operating lease expense                            5,000,000
Other cost of revenue                             12,000,000
                                                -------------
Total cost of revenue                             523,000,000

Gross profit (loss)                                50,000,000
Equipment, development project & other impairments          0
Sales, general and administrative expense          12,000,000
Other operating expenses                            1,000,000
                                                -------------
Income (loss) from operations                      37,000,000
Interest expense                                   91,000,000
Interest (income)                                  (8,000,000)
Minority interest expense                          (1,000,000)
Other (income) expense, net                        (5,000,000)
                                                -------------
Income (loss) before reorganization items and pro (40,000,000)
Reorganization items                               50,000,000
                                                -------------
Income (loss) before provision (benefit)
for income taxes                                 (90,000,000)
Provision (benefit) for income taxes                3,000,000
                                                -------------
Net income (loss)                                ($93,000,000)
                                                =============

                    About Calpine Corporation

Headquartered in San Jose, California, Calpine Corporation
(OTC Pink Sheets: CPNLQ) -- http://www.calpine.com/-- supplies
customers and communities with electricity from clean, efficient,
natural gas-fired and geothermal power plants.  Calpine owns,
leases and operates integrated systems of plants in 21 U.S. states
and in three Canadian provinces.  Its customized products and
services include wholesale and retail electricity, gas turbine
components and services, energy management and a wide range of
power plant engineering, construction and maintenance and
operational services.

The company previously produced a portion of its fuel consumption
requirements from its own natural gas reserves.  However, in July
2005, the company sold substantially all of its remaining domestic
oil and gas assets to Rosetta Resources Inc.

The company filed for chapter 11 protection on Dec. 20, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M. Cieri, Esq.,
Matthew A. Cantor, Esq., Edward Sassower, Esq., and Robert G.
Burns, Esq., Kirkland & Ellis LLP represent the Debtors in their
restructuring efforts.  Michael S. Stamer, Esq., at Akin Gump
Strauss Hauer & Feld LLP, represents the Official Committee of
Unsecured Creditors.  As of Dec. 19, 2005, the Debtors listed
$26,628,755,663 in total assets and $22,535,577,121 in total
liabilities.  The Debtors' exclusive period to file chapter 11
plan of reorganization expires on June 20, 2007.  (Calpine
Bankruptcy News, Issue No. 51; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


HANCOCK FABRICS: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Hancock Fabrics Inc. and its debtor-affiliates has filed with the
United States Bankruptcy Court for the District of Delaware, its
schedules of assets and liabilities, disclosing:

A.      Real Property
         Corporate Office and Distribution
            Center Building and Improvements       $20,718,050
         Land - Parking Lot                          1,206,813
         Corporate Office and Distribution
            Center Land                                453,523
         Lot 14-Building and Improvements              239,529
         Others                                        640,349
B.      Personal Property
B.1     Cash on hand                                   182,575
B.2     Bank accounts
         Bancorpsouth                                7,898,360
         Bancorpsouth                                  184,040
         Wachovia Bank                                (332,696)
         Wells Fargo                                    68,111
         Others                                      1,597,450
B.3     Security Deposits
         Morris Nichols                                201,044
         AIG                                           200,000
         Houlihan Lokey                                100,000
         Callaway Partners                              93,000
         Others                                        190,489
B.4     Household goods                                      0
B.5     Book, art work & collectibles                        0
B.6     Wearing apparel                                      0
B.7     Furs and jewelry                                     0
B.8     Firearms and sporting goods                          0
B.9     Interests in Insurance Policies                unknown
B.10    Annuities                                            0
B.11    Interests in education IRA                           0
B.12    Interests in retirement plans                        0
B.13    Stock and Interests                       undetermined
B.14    Interests in joint ventures                          0
B.15    Government & corporate bonds                         0
B.16    Accounts receivable
         American Express                              149,142
         Hirschberg Schutz                             476,475
         Horizon Ribbon                              1,233,862
         Volume Discounts                               44,427
         Due From Pension Fund                         271,156
         Due From Vendors                               71,639
         Independent Customer                           63,382
         Miscellaneous Receivables                      57,979
         Nova Receivable                             1,890,000
         Retail Receivables                            104,792
         Others                                          6,468
B.17    Alimony                                              0
B.18    Other liquidated debts owed
         US Internal Revenue Service -
            Federal tax refund                       7,116,000
B.19    Equitable or future interests                        0
B.20    Contingent & contingent interests                    0
B.21    Other contingent & unliquidated claims
B.22    Patents, copyrights & trademarks          undetermined
B.23    Licenses & franchises                     undetermined
B.24    Other intangibles                         undetermined
B.25    Automobiles                                          0
B.26    Boats                                                0
B.27    Aircraft                                       179,048
B.28    Office eqpt., furnishings and supplies               0
B.29    Machinery, furniture and fixtures
         Furniture, Fixtures & Equipment            10,761,083
         Leasehold Improvements                      4,286,342
B.30    Inventory
         Pattern Inventory                          10,857,775
Retail Inventory                                    86,246,239
B.31    Animals                                              0
B.32    Crops                                                0
B.33    Farming equipment                                    0
B.34    Farm supplies                                        0
B.35    Other personal property
         Capitalized Lease                           1,335,844
         Closed Store Rents                             58,905
         Deferred Loan Charges                         102,888
         Deferred Tax Benefit                        6,286,500
         Goodwill                                    3,639,154
         Heilig-Meyers Lease Buyout                    170,506
         Pre-Paid Rent Benefit-
            Leasehold Improvement                    3,020,324
         Prepaid Advertising                           751,297
         Prepaid Other                                 102,881
         Prepaid Rent                                   33,520
         Rent Offset                                   196,493
         Stepped Rent                                2,000,241

      TOTAL SCHEDULED ASSETS                      $175,154,999
                                                ==============

C.      Property Claimed as Exempt              Not applicable

D.      Creditors Holding Secured Claims
         Wachovia Bank, NA                          53,224,414
         Wachovia Bank, NA                           8,711,508
E.      Creditors Holding Unsecured
      Priority Claims
         Taxes
            David Childs-Tax Assessor-Collector        197,847
            St. Joseph Co. Treas.                       14,328
            City of Baldwin                             11,751
            City of Baldwin                             17,684
            City of Baldwin                             13,884
            Others                                     333,640
F.      Creditors Holding Unsecured Claims
         Non-Priority Claims
            AE Nathan Co.                              117,026
            Amalgamated Textiles USA, Inc.             249,893
            American & Efird, Inc.                     399,562
            American Sewing Machine Co.                161,251
            Baum Textile Mills, Inc                    338,785
            Bernina of America                         186,614
            Berry Network, Inc.                        118,307
            Blank Textiles                             263,812
            Blumenthal-Lansing                         357,461
            Braha Industries, Inc.                     298,920
            Callaway Partners                          240,540
            Carat USA                                  425,940
            Coats and Clark                            327,867
            Confortaire, Inc.                          384,219
            Consumer Prod. Enterprise                  269,649
            David Textiles                             261,953
            Dyno Merchandise Corp.                     112,637
            Fabri-Quilt                                691,329
            Fabric Editions LTD                        583,128
            Fabric Merchants, Inc.                     121,345
            Fabric Traditions                          358,224
            Fairfield Processing                       605,448
            Fiskars MFG Corp                           200,577
            General Fabric                             213,287
            Gingher Inc.                               114,329
            Hamil Textiles LTD                         157,073
            HF Resources, Inc.                     181,592,642
            Hi-Fashion                                 198,493
            Hirschberg-Schutz                          363,366
            Horizon Fabrics                            167,992
            Jaftex Corp.                               227,650
            Others                                  24,304,216

      TOTAL SCHEDULED LIABILITIES                 $276,938,591
                                                ==============

                      About Hancock Fabrics

Headquartered in Baldwyn, Miss., Hancock Fabrics Inc. (OTC: HKFIQ)
-- http://www.hancockfabrics.com/-- is a specialty retailer of a
wide selection of fashion and home decorating textiles, sewing
accessories, needlecraft supplies and sewing machines.  Hancock
Fabrics is one of the largest fabric retailers in the United
States, currently operating approximately 400 retail stores in
approximately 40 states.  The company employs approximately 7,500
people on a full-time and part-time basis.  Most of the company's
employees work in its retail stores, or in field management to
support its retail stores.

The company and 6 of its debtor-affiliates filed for chapter 11
protection on March 21, 2007 (Bankr. D. Del. Lead Case No.
07-10353).  Robert J. Dehney, Esq., at Morris, Nichols, Arsht &
Tunnell, represent the Debtors.  When the Debtors filed for
protection from their creditors, they listed $241,873,900 in total
assets and 161,412,000 in total liabilities.

The Debtors exclusive period to file a chapter 11 plan expires on
July 19, 2007.  (Hancock Fabric Bankruptcy News, Issue No. 11,
http://bankrupt.com/newsstand/or 215/945-7000).


NEW CENTURY: Capital Files Schedules of Assets and Liabilities
--------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, New Century
Capital, has filed with the U.S. Bankruptcy Court for the District
of Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                        $0

B.      Personal Property
B.1     Cash on hand                                          0
B.2     Bank accounts                                    75,112
B.3     Security Deposits                                     0
B.4     Household goods                                       0
B.5     Book, art work & collectibles                         0
B.6     Wearing apparel                                       0
B.7     Furs and jewelry                                      0
B.8     Firearms and sporting goods                           0
B.9     Interests in Insurance Policies                 unknown
B.10    Annuities                                             0
B.11    Interests in education IRA                            0
B.12    Interests in retirement plans                         0
B.13    Stock and Interests                             unknown
B.14    Interests in joint ventures                     unknown
B.15    Government & corporate bonds                          0
B.16    Accounts receivable                                   0
B.17    Alimony                                               0
B.18    Other liquidated debts owed                           0
B.19    Equitable or future interests                         0
B.20    Contingent & contingent interests                     0
B.21    Other contingent & unliquidated claims          unknown
B.22    Patents, copyrights & trademarks                      0
B.23    Licenses & franchises                                 0
B.24    Other intangibles                                     0
B.25    Automobiles                                           0
B.26    Boats                                                 0
B.27    Aircraft                                              0
B.28    Office equipment, furnishings and supplies            0
B.29    Machinery, furniture and fixtures                     0
B.30    Inventory                                             0
B.31    Animals                                               0
B.32    Crops                                                 0
B.33    Farming equipment                                     0
B.34    Farm supplies                                         0
B.35    Other personal property
         Residual Interest off Balance Sheet         20,485,767
         Residual Interest on Balance Sheet          19,511,459
         Residual Interest off Balance Sheet         14,134,166
         Residual Interest off Balance Sheet         12,275,051
         Residual Interest off Balance Sheet          9,945,297
         Residual Interest on Balance Sheet           8,952,937
         Residual Interest off Balance Sheet          1,780,305
         Residual Interest on Balance Sheet           1,142,701
         Residual Interest off Balance Sheet            904,272
         Residual Interest off Balance Sheet            529,803

      TOTAL SCHEDULED ASSETS                        $89,736,870
                                                  =============

C.      Property Claimed as Exempt               Not applicable

D.      Creditors Holding Secured Claims                unknown
E.      Creditors Holding Unsecured
      Priority Claims
         Wages                                           11,082
         Taxes                                          unknown

F.      Creditors Holding Unsecured Claims
         New Century Mortgage Corp.               1,447,743,833
         Pentalpha Surveillance, LLC                    222,439
         Others                                          83,196

      TOTAL SCHEDULED LIABILITIES                $1,448,060,550
                                                 ==============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: Credit Files Schedules of Assets and Liabilities
-------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, New Century
Credit, has filed with the U.S. Bankruptcy Court for the District
of Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                        $0

B.      Personal Property
B.1     Cash on hand                                          0
B.2     Bank accounts
         Union Bank of California                     1,000,000

B.16    Accounts receivable
         Intercompany:
         New Century TRS Holdings, Inc.              67,632,944
         New Century Mortgage Corporation            16,921,536

      TOTAL SCHEDULED ASSETS                        $85,554,480
                                                   ============

C.      Property Claimed as Exempt               Not applicable

D.      Creditors Holding Secured Claims                     $0
E.      Creditors Holding Unsecured                           0
F.      Creditors Holding Unsecured Claims                    0
         NH Criminal Records                                 39
         Others                                         Unknown

      TOTAL SCHEDULED LIABILITIES                           $39
                                                   ============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: Home 123 Files Schedules of Assets and Liabilities
--------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, Home 123
Corp., has filed with the U.S. Bankruptcy Court for the District
of Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                      $0

B.      Personal Property
B.1     Cash on hand                                        0
B.2     Bank accounts
         Union Bank of California                   1,501,165
         Union Bank of California                     489,140
         Deutsche Bank National Trust Company         462,884
         Union Bank of California                     449,721
         Union Bank of California                     418,896
         Union Bank of California                     406,427
         Union Bank of California                     350,273
         Union Bank of California                     196,080
         Union Bank of California                     118,318
         Union Bank of California                      78,175
         Union Bank of California                      76,496
         Deutsche Bank National Trust Company          53,588
         Union Bank of California                       9,608
         Union Bank of California                       9,608
B.3     Security Deposits
         Equity Office Properties                      24,564
         Mills Enterprises LLC                         16,560
         Bellevue Lincoln Plaza LLC                    10,445
         Golden Bear International                     20,000
         HAPS #3 LP                                    11,117
         Laguna Oaks Shopping Center Assoc.            14,587
         Rockaway Office, LLC                          27,686
         TIAA-CREF                                     20,876
         Others                                       320,499
B.4     Household goods                                     0
B.5     Book, art work & collectibles                       0
B.6     Wearing apparel                                     0
B.7     Furs and jewelry                                    0
B.8     Firearms and sporting goods                         0
B.9     Interests in Insurance Policies               unknown
B.10    Annuities                                           0
B.11    Interests in education IRA                          0
B.12    Interests in retirement plans                       0
B.13    Stock and Interests                           unknown
B.14    Interests in joint ventures                   unknown
B.15    Government & corporate bonds                        0
B.16    Accounts receivable
      Intercompany Receivable:
         Trade/Other
         New Century Mortgage Corp.              (364,782,649)
         New Century TRS Holdings                 177,371,650
         Kingston Mortgage Co., LTD.               59,321,230
         Loan Partners Mortgage, LTD.              44,368,568
         Compufund Mortgage Company                36,886,262
         Others                                   415,571,856
      Holdback Receivable                             730,040
      Servicing Receivable                          7,214,742
B.17    Alimony                                             0
B.18    Other liquidated debts owed                    72,904
B.19    Equitable or future interest                        0
B.20    Contingent & contingent interest                    0
B.21    Other contingent & unliquidated claims
         From Royal Bank of Canada                  2,300,000
         Form RBC Mortgage                             26,601
         Against General Liability Carrier             26,000
         Contingent Insurance Claim for Theft           7,500
         2006 Tax Refund                              Unknown
B.22    Patents, copyrights & trademarks                    0
B.23    Licenses & franchises                         Unknown
B.24    Other intangibles                                   0
B.25    Automobiles                                         0
B.26    Boats                                               0
B.27    Aircraft                                            0
B.28    Office equipment, furnishings and supplies
         Cabling for Von Karman                       206,103
         Phone Equipment - Corporate G and A          106,171
         Furniture, Phone System, Clearlake            89,963
         Furniture, Desert Ridge                       76,231
         New phone system and equipment - Irvine       73,652
         New phone system and equipment - Region       73,652
         Other - Corporate G and A                     73,412
         Office furniture for Concord Location         62,266
         Office furniture for Ontario                  56,951
         IBM Thinkpads                                 56,608
         Assembly and Installation for Reston, V       54,522
         Furniture for the Atlanta, GA Office          54,418
         Furniture for the Staten Island, NY Off       50,393
         Others                                     4,968,642
B.29    Machinery, furniture and fixtures                   0
B.30    Inventory                                           0
B.31    Animals                                             0
B.32    Crops                                               0
B.33    Farming equipment                                   0
B.34    Farm supplies                                       0
B.35    Other personal property
         Mortgage Loans held for sale:
            DB Financed                           716,491,233
            CSFB Financed                         325,074,382
            BoFA Financed                         189,572,312
            Non-Pledged                            61,881,132
            CDC Financed                            1,825,846
            Morgan Financed                           520,505
         Prepaid Contracts                             30,933
         Prepaid Rent                                   6,247
         Other                                         12,851

      TOTAL SCHEDULED ASSETS                   $1,685,619,844
                                              ===============

C.      Property Claimed as Exempt             Not applicable

D.      Creditors Holding Secured Claims
         Bank of America, NA
            Master Purchase Agreement            $166,970,071
         Credit Suisse First Boston Mortgage
         Capital LLC
            Amended and Restated Master
            Repurchase Agreement                  427,547,408
         DB Structured Products, Inc.
            Master Purchase Agreement             691,847,219

E.      Creditors Holding Unsecured
      Priority Claims
         Wages                                        139,793
         Taxes                                        unknown

F.      Creditors Holding Unsecured Claims
         New Century Mortgage Corp.               364,782,649
         Lowermybills.com                           1,559,864
         Golden Oak Mortgage, L.P.                  1,337,442
         WRT Financial Limited Partnershi             890,915
         Moore Wallace Response Mktg. Service         500,315
         Low.com, Inc.                                467,190
         CPPM, Inc.                                   365,442
         Nextag                                       329,107
         Catarina Mortgage Services, Inc.             317,015
         Adteractive                                  281,178
         Fannie Mae                                   249,557
         Webb Mason, Inc.                             203,981
         Systems Source, Inc.                         187,837
         Client Services, Inc.                        160,801
         Idirect Marketing, Inc.                      199,896
         Media Contacts                               140,985
         Interthinx                                   139,415
         Others                                     2,507,441

      TOTAL SCHEDULED LIABILITIES              $1,661,125,521
                                              ===============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: Mortgage Files Schedules of Assets & Liabilities
-------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, New Century
Mortgage, has filed with the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities,
disclosing:

A.      Real Property
         Loan Address:
            Corona, California                       $560,000
            Sacramento, California                    583,460
            San Jose, California                      563,070
            Anaheim, California                       568,000
            Los Angeles, California                   659,871
            Apple Valley, California                  503,861
            Saugus Area, California                   688,573
            Friendswood, Texas                        548,000
            Discovery Bay, California                 540,000
            Baton Rouge, Louisiana                    597,645
            Others                                 24,507,361
B.      Personal Property
B.1     Cash on hand                                        0
B.2     Bank accounts
         Union Bank of California                  42,001,615
         Union Bank of California                   3,201,897
         Deutsche Bank National Trust Company       1,418,278
         Union Bank of California                     841,699
         Union Bank of California                     825,564
         Union Bank of California                     577,725
         Union Bank of California                     500,000
         Deutsche Bank National Trust Company         462,884
         Union Bank of California                     421,771
         Deutsche Bank National Trust Company         412,975
         Union Bank of California                     311,092
         Union Bank of California                     246,507
         Union Bank of California                     232,575
         Deutsche Bank National Trust Company         107,305
         Others                                       253,169
B.3     Security Deposits
         New Green 1140 Realty LLC                     15,708
         The Irvine Co.                                52,543
         Park Ridge Business Centers LLC               61,680
         Mourier Land Investment                       22,239
         Transland Financial Services                  11,851
         Brandywine Operating Partnership, LP - Ck     43,689
         Southern CA Edison                           157,590
         Others                                       175,032
B.4     Household goods                                     0
B.5     Book, art work & collectibles                       0
B.6     Wearing apparel                                     0
B.7     Furs and jewelry                                    0
B.8     Firearms and sporting goods                         0
B.9     Interests in Insurance Policie                unknown
B.10    Annuities                                           0
B.11    Interests in education IRA                          0
B.12    Interests in retirement plans                       0
B.13    Stock and Interests
         Investment in Nextace                        136,345
         Others                                       unknown
B.14    Interests in joint ventures                         0
B.15    Government & corporate bonds                        0
B.16    Accounts receivable
      Intercompany Receivable and Payable:
         New Century Capital Corporation        1,447,743,833
         Home123 Corporation                      364,782,645
         New Century Residual IV Corporation      152,733,364
         Von Karman Funding LLC                  (411,552,172)
         New Century TRS Holdings, Inc.          (391,528,048)
         New Century Residual III Corporation    (174,753,176)
         New Century Financial Corporation       (111,998,615)
         Others                                 1,096,876,725
      Employee Advances                               188,292
      Servicing Receivable                        110,843,605
B.17    Alimony                                             0
B.18    Other liquidated debts owed
         Miscellaneous Tax Receivable
         Received NY State Mortgage Tax Credit      1,318,647
B.19    Equitable or future interests                       0
B.20    Contingent & contingent interests                   0
B.21    Other contingent & unliquidated claims
         Contingent Receivable
            Morgan Stanley Net interest            19,386,631
         Claim to carrier
            Encore Credit Corp., et al.             7,000,000
            Derby City Title, Inc.                  1,300,000
            Edward B. Arcy, et al.                    551,325
            Elaine Lum                                158,403
         Others                                       unknown
B.22    Patents, copyrights & trademarks              unknown
B.23    Licenses & franchises                         unknown
B.24    Other intangibles                                   0
B.25    Automobiles                                         0
B.26    Boats                                               0
B.27    Aircraft                                            0
B.28    Office equipment, furnishings and supplies
         Final/generator drawings                     992,609
         Final/generator drawings                     625,021
         Security Content Engines                     598,915
         Licenses of Citrix Metaframe                 325,000
         HP Proliant Servers                          278,467
         Voice Blend and Lyricall User Licenses       231,738
         Compaq Computers Loan Servicing Division     117,635
         HP Proliant DL585 rack servers               113,661
         Others                                    53,706,488

B.29    Machinery, furniture and fixtures                   0
B.30    Inventory                                           0
B.31    Animals                                             0
B.32    Crops                                               0
B.33    Farming equipment                                   0
B.34    Farm supplies                                       0
B.35    Other personal property
         Mortgage loan held for sale
         Pledged:
            Morgan Financed                     2,340,417,940
            UBS Financed                        1,524,055,398
            CSFB Financed                       1,026,256,415
            CDC Financed                          807,481,802
            BoFa Financed                         353,461,020
            DB Financed                           212,166,869
            Other                                      76,523
         Non-Pledged                              201,308,533
         Prepaid Insurance                          3,239,813
         Prepaid Maintenance and Contracts          5,380,243
         Prepaid Rent                               2,694,838

      TOTAL SCHEDULED ASSETS                   $8,729,391,961
                                              ===============

C.      Property Claimed as Exempt             Not applicable

D.      Creditors Holding Secured Claims
         Bank of America, NA                     $341,280,277
         Bank of the West                             194,444
         Citigroup Global Markets Realty          777,826,951
         Credit Suisse First Boston               856,427,823
         DB Structured Products, Inc.             147,403,440
         Morgan Stanley Mortgage Capital Inc.   2,103,001,933
         UBS Real Estate Securities Inc.        1,464,892,045
         Others                                       unknown
E.      Creditors Holding Unsecured
      Priority Claims
         Wages:
            Joseph Aldwin Aure                          6,696
            Tim Becker                                 29,512
            Steve Barron Bramlett                       6,456
            Rick Brown                                  9,189
            Marco Castaneda                            14,308
            Robert I. Champion                         23,846
            Joann M. Fanucchi                           9,058
            Dan P. Gerber                               8,159
            Gail Vivian Ivers                          14,193
            Gary R. Kephart                            10,918
            Kam Alvin Koepnick                          8,491
            Marsha L. Laudenback                        6,478
            Douglas L. Lipshaw                         10,260
            Stephanie J. McNerney                       5,000
            Vivian R. Molitz                            5,937
            Chandy C. Nhean                             6,987
            Ronald Niko                                 9,154
            Sean M. O'Leary                             8,485
            Hanh M. Paquette                            8,483
            Paul B. Patterson                          13,557
            Rusty C. Phanvong                           5,991
            Alexandra T. Piacenza                      16,894
            Albert Moed Roth                            5,920
            Thomas Richard Schnabel                    16,692
            Syndi E. Steinrad                           6,136
            Tiffanie T. Tran                            8,400
            Kelly Trinh                                 5,441
         Taxes                                        unknown

F.      Creditors Holding Unsecured Claims
         Non-Priority Claims
            1800 Anyloan.com                       12,356,787
            Ad Astra Mortgage, Ltd                  4,966,621
            Austin Mortgage, LP                     9,790,482
            Capital Pacific Home Loans, LP          1,085,747
            Compufund Mortgage Company, Ltd.       36,147,896
            Elite Financial Services                2,145,663
            Kingston Mortgage Company, Ltd.        57,445,515
            Loan Partners Mortgage, Ltd.           42,975,175
            Midwest Home Mortgage Ltd.              3,654,892
            Monticello Mortgage Services            2,723,172
            New Century Credit Corporation         16,921,537
            New Century Financial Corporation     111,998,615
            New Century Mortgage Securities, LLC    2,065,840
            New Century Residual III Corp.        174,753,176
            New Century TRS Holdings, Inc.        391,528,049
            PCHTree Residential Mortgage, L.P.      7,784,376
            Residential Prime Lending Ltd Part.     3,860,672
            Sutter Buttes Mortgage, L.P.            1,580,389
            Team Home Lending, LTD.                10,048,527
            Von Karman Funding LLC                411,552,172
            New Century Residual IV Corp.          50,578,735
            Affiliated Computer Services            1,139,676
            American Express                        1,176,081
            Bankers Insurance Service               1,015,773
            GE Capital                              1,424,384
            Others                                 20,007,756

      TOTAL SCHEDULED LIABILITIES              $7,072,371,287
                                              ===============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: NCM Ventures Files Schedules of Assets & Liabilities
-----------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, NCM Ventures
has, filed with the U.S. Bankruptcy Court for the District of
Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                       $0

B.      Personal Property
B.1     Cash on hand                                         0
B.2     Bank accounts
         Union Bank of California                      102,377

      TOTAL SCHEDULED ASSETS                          $102,377
                                                      ========

C.      Property Claimed as Exempt              Not applicable

D.      Creditors Holding Secured Claims               unknown
E.      Creditors Holding Unsecured                    unknown
F.      Creditors Holding Unsecured Claims
         Intercompany:
         New Century Mortgage Corp.                    $26,191
         Others                                          1,550

      TOTAL SCHEDULED LIABILITIES                      $27,741
                                                      ========

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: NCORAL LP Files Schedules of Assets and Liabilities
----------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, NCORAL LP,
has filed with the U.S. Bankruptcy Court for the District of
Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                        $0

B.      Personal Property
B.1     Cash on hand                                          0
B.2     Bank accounts
         Union Bank of California                     1,000,000
B.9     Interests in Insurance Policies                 unknown

      TOTAL SCHEDULED ASSETS                         $1,000,000
                                                    ===========

C.      Property Claimed as Exempt               Not applicable

D.      Creditors Holding Secured Claims                      0
E.      Creditors Holding Unsecured                           0
F.      Creditors Holding Unsecured Claims                    0

      TOTAL SCHEDULED LIABILITIES                            $0
                                                         ======

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: NC REO Files Schedules of Assets and Liabilities
-------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, NC REO
Corp., has filed with the U.S. Bankruptcy Court for the District
of Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                        $0

B.      Personal Property
B.1     Cash on hand                                          0
B.2     Bank accounts
         Union Bank of California                       200,100

      TOTAL SCHEDULED ASSETS                           $200,100
                                                      =========

C.      Property Claimed as Exempt               Not applicable

D.      Creditors Holding Secured Claims                      0
E.      Creditors Holding Unsecured                           0
F.      Creditors Holding Unsecured Claims                    0

      TOTAL SCHEDULED LIABILITIES                            $0
                                                         ======

                         About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


NEW CENTURY: NC Residual III Files Schedules of Assets & Debts
--------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, NC Residual
III, has filed with the U.S. Bankruptcy Court for the District of
Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                       $0

B.      Personal Property
B.1     Cash on hand                                         0

B.16    Accounts receivable
         Intercompany:
         New Century Mortgage Corp.                174,753,175

B.35    Other personal property
         Residual Interest on Balance Sheet         56,987,453
         Residual Interest off Balance Sheet        16,159,499

      TOTAL SCHEDULED ASSETS                      $247,900,127
                                                 =============

C.      Property Claimed as Exempt              Not applicable

D.      Creditors Holding Secured Claims                     0
E.      Creditors Holding Unsecured                          0
F.      Creditors Holding Unsecured Claims
         Intercompany:
         New Century TRS Holdings, Inc.             30,942,889

      TOTAL SCHEDULED LIABILITIES                  $30,942,889
                                                  ============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: NC Residual IV Files Schedules of Assets and Debts
---------------------------------------------------------------
New Century Financial Corporation's debtor-affiliate, NC Residual
IV, has filed with the U.S. Bankruptcy Court for the District of
Delaware its schedules of assets and liabilities, disclosing:

A.      Real Property                                        $0

B.      Personal Property
B.1     Cash on hand                                          0
B.2     Bank accounts                                   unknown

B.16    Accounts receivable
         Intercompany Receivable:
         New Century TRS Holdings, Inc.             469,667,498

B.35    Other personal property
         Residual interests on Balance Sheet        589,031,804

      TOTAL SCHEDULED ASSETS                     $1,058,699,302
                                                ===============

C.      Property Claimed as Exempt               Not applicable

D.      Creditors Holding Secured Claims                unknown
E.      Creditors Holding Unsecured                          $0
F.      Creditors Holding Unsecured Claims
         Intercompany:
         New Century Mortgage Corp.                 152,733,363

      TOTAL SCHEDULED LIABILITIES                  $152,733,363
                                                  =============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

The Debtors' exclusive period to file a plan expires on July 31,
2007.


NEW CENTURY: Posts $4.3 Million Net Loss in April 2007
------------------------------------------------------

              New Century Financial Corporation
                        Balance Sheet
                    As of April 30, 2007

Assets
Current assets:
Unrestricted cash and equivalents                   $21,128,118
Accounts receivable, net                                      0
Notes Receivable                                              0
Inventories                                                   0
Prepaid expenses                                        472,966
Professional Retainers                                        0
Other current assets                                          0
                                                 --------------
Total current assets                                 21,601,084
                                                 --------------
Other assets                                      1,184,274,882
                                                 --------------
Total assets                                     $1,205,875,966
                                                 ==============

Liabilities and Owner Equity
Liabilities not subject to compromise:
Accounts payable                                           $0  
Professional fees                                    4,341,000
Liabilities subject to compromise:
Unsecured Debt                                    135,898,975
Net owner equity:
Capital stock                                         625,037
Additional paid-in capital                      1,259,611,522
Partners' capital account                                   0
Owner's equity account                                      0
Retained earnings -- prepetition                 (190,259,568)
Retained earnings -- postpetition                  (4,341,000)
Adjustments to owner equity                                 0
Postpetition contributions                                  0
                                                --------------
Net owner equity                                 1,065,635,991
                                                --------------
Total liabilities and owners' equity            $1,205,875,966
                                                ==============

              New Century Financial Corporation
                   Statement of Operations
                 Month Ended April 30, 2007

Revenues                                                    $0
Cost of goods sold                                           0
Operating expenses                                           0
Reorganization items:
Professional fees                                   4,341,000
Income taxes                                                0
                                                --------------
Net profit (loss)                                  ($4,341,000)
                                                ==============

              New Century Financial Corporation
         Schedule of Cash Receipts and Disbursements
                 Month Ended April 30, 2007

Cash, beginning of month                           $20,839,653
Total receipts                                         288,465
Total disbursements                                          0

Net cash flow                                          288,465
                                                --------------
Cash, end of month                                 $21,128,118
                                                ==============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


NEW CENTURY: TRS Holdings Posts $1 Million Net Loss in April 2007
-----------------------------------------------------------------

               New Century TRS Holdings, Inc.
                        Balance Sheet
                    As of April 30, 2007

Assets
Current assets:
Unrestricted cash and equivalents                       $22,208
Prepaid expenses                                      2,664,999
Professional Retainers                                        0
Other current assets                                          0
                                                 --------------
Total current assets                                  2,687,207
                                                 --------------
Property and equipment                                        0
Other assets                                         56,328,816
                                                 --------------
Total assets                                        $59,016,023
                                                 ==============

Liabilities and Owner Equity
Postpetition liabilities                                     $0
Liabilities subject to compromise:
Unsecured Debt                                        2,082,741
                                                 --------------
Total liabilities                                    $2,082,741
                                                 ==============

Owner Equity:
Capital stock                                                 0
Additional paid-in capital                          (60,887,310)
Partners' Capital Account                                     0
Owner's Equity account                                        0
Retained Earnings - Prepetition                     118,856,184
Retained Earnings - Postpetition                     (1,035,592)
Adjustments to Owner Equity                                   0
Postpetition Contributions                                    0
                                                 --------------
Net owner equity                                     56,933,282
                                                 --------------
Total liabilities and owners' equity                $59,016,023
                                                 ==============

              New Century TRS Holdings, Inc.
           Consolidated Statement of Operations
                 Month Ended April 30, 2007

Revenues                                                     $0
Cost of goods sold                                            0
Operating expenses:
Salaries/Commissions/Fees                            1,035,582
Others                                                      10
                                                 --------------
Total operating expenses before depreciation          1,035,592
                                                 --------------
Net profit (loss)                                   ($1,035,592)
                                                 ==============

               New Century TRS Holdings, Inc.
         Schedule of Cash Receipts and Disbursements
                 Month Ended April 30, 2007

Cash, beginning of month                                $22,400
Total receipts                                             (192)
Total disbursements                                           0
Net cash flow                                              (192)
                                                 --------------
Cash, end of month                                      $22,208
                                                 ==============

                        About New Century

Founded in 1995 and headquartered in Irvine, Calif., New Century
Financial Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a  
real estate investment trust, providing mortgage products to
borrowers nationwide through its operating subsidiaries, New
Century Mortgage Corporation and Home123 Corporation.  The company
offers a broad range of mortgage products designed to meet the
needs of all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  When the
Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.  The Debtors'
exclusive period to file a chapter 11 plan expires on July 31,
2007.  (New Century Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts.  The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
Tara Marie A. Martin, John Paul C. Canonigo, Sheena Jusay, and
Peter A. Chapman, Editors.

Copyright 2007.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same firm
for the term of the initial subscription or balance thereof are
$25 each.  For subscription information, contact Christopher Beard
at 240/629-3300.

                    *** End of Transmission ***