Fremont Unloads $4 Billion in Whole Loans

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Fremont General said it plans to sell $4 billion in subprime loans, which will result in a $140 million pretax loss. Fremont Unloads $4 Billion in Loans March 21, 2007 By justin mchood housingwire reports that Fremont has agreed to sell $4 billion in loans as they continue to exit the subprime lending market as ordered by the FDIC.

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Fremont General Plans to Sell $4 Billion in Subprime Loans. The sale will result in a pretax loss of about $140 million, the real-estate lender said. Fremont said its sale of the loans at a discount reflects "current conditions in the subprime mortgage market.". Liquidity.

 · Fremont Investment & Loan last week sold $4 billion of its subprime mortgage loan portfolio to an undisclosed buyer. The company will take a pretax loss of roughly $140 million on the deal. The buyer paid Fremont $950 million in cash from the first sale installment under the agreement, and the remaining sales are expected to take place over the next several weeks.

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