Fremont Investment & Loan announced today that it has agreed to sell at a discount about $4 billion of its subprime residential real estate loans. The sale will result in a pretax loss of about $140 million, according to the company. Fremont laid off 2,400 employees in its subprime mortgage unit earlier in the month. more [WSJ]
Fremont sells $4B in subprime loans
March 21, 2007 12:00AM
