Industry News

FDIC finds Fremont I&L’s underwriting policies inadequate

Cease-and-desist order complicating efforts to sell subprime lender
Published on Mar 9, 2007

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by CareyBot

Fremont General Corp.’s attempts to exit subprime mortgage lending by selling its subsidiary, Fremont Investment & Loan, are being complicated by a cease-and-desist order filed by federal bank regulators. Fremont General announced March 2 it would sell its Brea, Calif.-based ...