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  <TITLE> New Century Financial Corporation (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	May 3, 2007
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  	New Century Financial Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	001-32314
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  	56-2451736
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	18400 Von Karman Avenue, Suite 1000, Irvine, California
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  	92612
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	(949) 440-7030
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 2.05 Costs Associated with Exit or Disposal Activities.
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  On April 25, 2007, the United States Bankruptcy Court for the District of Delaware approved an order setting bidding procedures in connection with a potential auction of the loan origination platform assets (the "Loan Origination Platform Assets") of New Century Financial Corporation (the "Company").  The deadline for bids on the Loan Origination Platform Assets expired on May 2, 2007.  No bids on the Loan Origination Platform Assets were received by this deadline.  <br><br>As a result of a lack of bids to purchase the Loan Origination Platform Assets as a continuing business, the Company, New Century Mortgage Corporation, and Home123 Corporation announced on May 3, 2007 a reduction in their aggregate workforce by a total of approximately 2,000 people (approximately 73% of their total aggregate workforce immediately prior to this workforce reduction) nationwide.  This reduction in workforce is effective May 4, 2007.<br><br>The vast majority of the employees included in this reduction in workforce were associated with the operations included in the Loan Origination Platform Assets.  Although estimates are subject to change as additional information becomes available, the Company expects to incur severance pay expenses and make related cash expenditures of approximately $7 million in connection with the reduction in its workforce.<br><br>The Company is considering its alternatives for the Loan Origination Platform Assets.<br>
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  	Item 7.01 Regulation FD Disclosure.
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  Documents filed in connection with the bankruptcy cases (other than documents filed under seal or otherwise subject to confidentiality protections) may be accessed at the United States Bankruptcy Court for the District of Delaware's Internet site, www.deb.uscourts.gov, through an account obtained from Pacer Service Center at 1-800-676-6856. Links to such documents may also be found on the website of the Company's Claims and Noticing Agent, XRoads Solutions Group, at www.xroadscms.net/newcentury. A link to the Claims and Noticing Agent's site and additional information may also be found at the Company's restructuring website at www.ncenrestructuring.com/caseinfo/index.html. The information set forth on the foregoing websites shall not be deemed to be a part of or incorporated by reference into this Form 8-K.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	New Century Financial Corporation
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  <I>
  	May 4, 2007
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  	By:
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  <I>
  	/s/ Brad A. Morrice
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  	Name: Brad A. Morrice
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  	Title: President and Chief Executive Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_20084.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10739}]
metadata_filer: {"company-data": {"conformed-name": "NEW CENTURY FINANCIAL CORP", "cik": "0001287286", "assigned-sic": "6798", "irs-number": "562451736", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32314", "film-number": "07821356"}, "business-address": {"street1": "18400 VON KARMAN", "street2": "SUITE 1000", "city": "IRVINE", "state": "CA", "zip": "92612", "phone": "9494407030"}, "mail-address": {"street1": "18400 VON KARMAN", "street2": "SUITE 1000", "city": "IRVINE", "state": "CA", "zip": "92612"}, "former-company": {"former-conformed-name": "NEW CENTURY REIT INC", "date-changed": "20040416"}}
text: New Century Financial Corporation (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  May 3, 2007
  New Century Financial Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  001-32314
  56-2451736
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  18400 Von Karman Avenue, Suite 1000, Irvine, California
  92612
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (949) 440-7030
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 2.05 Costs Associated with Exit or Disposal Activities.
  On April 25, 2007, the United States Bankruptcy Court for the District of Delaware approved an order setting bidding procedures in connection with a potential auction of the loan origination platform assets (the "Loan Origination Platform Assets") of New Century Financial Corporation (the "Company").  The deadline for bids on the Loan Origination Platform Assets expired on May 2, 2007.  No bids on the Loan Origination Platform Assets were received by this deadline.
  As a result of a lack of bids to purchase the Loan Origination Platform Assets as a continuing business, the Company, New Century Mortgage Corporation, and Home123 Corporation announced on May 3, 2007 a reduction in their aggregate workforce by a total of approximately 2,000 people (approximately 73% of their total aggregate workforce immediately prior to this workforce reduction) nationwide.  This reduction in workforce is effective May 4, 2007.
  The vast majority of the employees included in this reduction in workforce were associated with the operations included in the Loan Origination Platform Assets.  Although estimates are subject to change as additional information becomes available, the Company expects to incur severance pay expenses and make related cash expenditures of approximately $7 million in connection with the reduction in its workforce.
  The Company is considering its alternatives for the Loan Origination Platform Assets.
  Item 7.01 Regulation FD Disclosure.
  Documents filed in connection with the bankruptcy cases (other than documents filed under seal or otherwise subject to confidentiality protections) may be accessed at the United States Bankruptcy Court for the District of Delaware's Internet site, www.deb.uscourts.gov, through an account obtained from Pacer Service Center at 1-800-676-6856. Links to such documents may also be found on the website of the Company's Claims and Noticing Agent, XRoads Solutions Group, at www.xroadscms.net/newcentury. A link to the Claims and Noticing Agent's site and additional information may also be found at the Company's restructuring website at www.ncenrestructuring.com/caseinfo/index.html. The information set forth on the foregoing websites shall not be deemed to be a part of or incorporated by reference into this Form 8-K.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  New Century Financial Corporation
  May 4, 2007
  By:
  /s/ Brad A. Morrice
  Name: Brad A. Morrice
  Title: President and Chief Executive Officer