Freemon General finds a buyer for its subprime mortgage business
According to reports Monday, Freemont General Corp. has found a buyer for its home loan business. Freemont has said it signed a letter of intent and is negotiating a sale of most of its residential lending business, including the portion that services the loans it has originated.
For more information, check out these stories. San Jose Mercury News, Forbes, Reuters, Freemont General press release (pdf).
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