Industry News

Subprime lender cuts ties to 8,000 mortgage brokers

Fremont I&L's early defaults climbed to 6% last year
Published on Jan 30, 2007

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by CareyBot

A subprime lender that was experiencing an early default rate of nearly 6 percent last summer has stopped doing business with 8,000 mortgage brokers who were “highly correlated” to the sudden rise in defaults. Fremont Investment and Loan has reduced ...