New Century Financial Corp. last week reported a 47% gain in net earnings, to $7.5 million, for the quarter ended June 30.

Loan volume increased 89%, to $819 million, from the same period last year.

The company said it substantially increased the ratio of fixed- to adjustable-rate loans in its portfolio during the past 12 months.

During the quarter the company issued its first net interest margin, or NIM, security. These securities allow purchasers to invest in returns from interest payments that a company expects to receive.

As of June 30, New Century's servicing portfolio was $2.3 billion, of which $1.8 billion is serviced in-house, and the remainder by Advanta Corp.

New Century's available cash and liquidity at quarter end was $19.7 million.

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