Bethesda has released the v 1.3 patch update for Fallout: New Vegas, but unfortunately the Xbox Live version of the patch is plagued with issues. Players have reported problems loading saved games and some people have experienced freezing screens. Bethesda is aware of the situation and is working to correct the problem, but in the mean time we suggest you ignore the update if you have not yet installed it. Bethesda has released a statement regarding the current issues surround the new patch - make sure to hit the source link for more details straight from the developer's mouth:
“Regarding the Xbox 360 update, we’ve discovered a solution to the issue that’s causing problems with game saves. We’ll be hosting a replacement update on Xbox LIVE as soon as humanly possible. If you haven’t grabbed the New Vegas update on 360 today, we recommend you decline the update until the new one is live. We’ll be sure to let you know when it’s up.”

Since this statement, Bethesda has also announced the following: “Regarding the Xbox 360 update, we’ve discovered a solution to the issue that’s causing problems with game saves. Updated news on the Xbox 360 update for New Vegas. The update for English versions of the game should be going live later tonight. Exact time is TBA, but it’ll probably be later in the night. For folks playing the game in other languages, the wait is going to be a little longer. When we have a better estimate of what that will be, we’ll let you know.”
[SOURCE]