Paul Rigdon has been promoted to executive vice president of the retail division of New Century Mortgage Corp.

The Irvine, Calif.-based specialty finance company originates, buys, sells, and services subprime mortgages.

Mr. Rigdon had been senior vice president of retail lending and regional manager in charge of expansion in the Northwest.

Under Mr. Rigdon, New Century Mortgage had $987 million in loan originations from February 1996 through the second quarter of this year, the company said.

He also directed the opening of 91 retail sales offices in 27 states.

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