UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D/A

NEW CENTURY FINANCIAL CORPORATION

(Name of Issuer)

Common Stock, $0.01 par value per share

(Title of Class of Securities)

6435EV108

(CUSIP NUMBER)

Greenlight Capital, L.L.C.
140 East 45^th Street, Floor 24
New York, New York 10017
Tel. No.: (212) 973-1900

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

- with copies to -

Eliot D. Raffkind
Akin Gump Strauss Hauer & Feld LLP
1700 Pacific Avenue, Suite 4100
Dallas, Texas 75201-4618
(214) 969-2800

September 19, 2007

(Date of event which requires filing of this statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

CUSIP No.		6435EV108	13D/A

*SEE INSTRUCTIONS BEFORE FILLING OUT

CUSIP No.		6435EV108	13D/A

*SEE INSTRUCTIONS BEFORE FILLING OUT

AMENDMENT NO. 8 TO SCHEDULE 13D

     This Amendment No. 8 to Schedule 13D (this “Amendment”) is being filed on behalf of Greenlight Capital, L.L.C., a Delaware limited liability company (“Greenlight LLC” or “Greenlight”) and Mr. David Einhorn, principal of Greenlight LLC (the “Principal” and together with Greenlight, the “Reporting Persons”), relating to shares of common stock, par value $0.01 per share (the “Common Stock”), of New Century Financial Corporation, a Maryland corporation (“New Century” or the “Issuer”). This Amendment modifies the original Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on December 13, 2002, as amended by Amendment No. 1 filed with the Commission on March 18, 2003, as further amended by Amendment No. 2 filed with the Commission on April 20, 2004, as further amended by Amendment No. 3 filed with the Commission on April 28, 2005, as further amended by Amendment No. 4 filed with the Commission on February 17, 2006, as further amended by Amendment No. 5 filed with the Commission on March 15, 2006, as further amended by Amendment No. 6 filed with the Commission on March 24, 2006, as further amended by Amendment No. 7 filed with the Commission on March 8, 2007 (the “Schedule 13D”).

     This Amendment relates to shares of Common Stock that were owned by (a) Greenlight Capital, L.P., a Delaware limited partnership of which Greenlight LLC is the general partner (“Greenlight Fund”), and (b) Greenlight Capital Qualified, L.P., a Delaware limited partnership of which Greenlight LLC is the general partner (“Greenlight Qualified” together with Greenlight Fund, the “Greenlight Entities” and together with the Reporting Persons the “Greenlight Parties”).

Item 5.		Interest in Securities of the Issuer

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

     (a) As of the date of this filing, the Greenlight Parties may be deemed to beneficially own an aggregate of 0 shares of Common Stock.

     (b) As of the date of this filing, the Greenlight Parties have the sole voting and dispositive power over 0 shares of Common Stock.

     (c) The transactions in the Issuer’s securities by the Greenlight Parties in the last sixty days are listed as Annex A attached hereto and made a part hereof.

     (d) Not Applicable.

     (e) As of September 19, 2007, the Greenlight Parties ceased to be the beneficial owners of more than five percent of the Issuer’s Common Stock.

Item 7.		Material to be Filed as Exhibits

Exhibit 99.1		Joint Filing Agreement by and between Greenlight LLC and the Principal.

Signature

     After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: September 26, 2007

		GREENLIGHT CAPITAL, L.L.C.
		By:		/s/ DANIEL ROITMAN
				Daniel Roitman, Chief Operating Officer
		/s/ DANIEL ROITMAN
		Daniel Roitman, on behalf of David Einhorn

     The Power of Attorney, executed by David Einhorn authorizing Harry Brandler and Daniel Roitman to sign and file this Schedule 13D on David Einhorn’s behalf, which was filed with the Schedule 13G filed with the Securities and Exchange Commission on July 18, 2005, by the Reporting Persons with respect to the Ordinary Shares of Flamel Technologies S.A. is hereby incorporated by reference.

ANNEX A

Transaction

Price per

Account

Date

Buy/Sell

Number of Shares

Share ($)

Greenlight Fund

September 19, 2007

Sell

780,900

$

0.118

Greenlight Qualified

September 19, 2007

Sell

2,713,800

$

0.118