Fremont General To Unload Subprime Mortgage Operations

Reportedly prompted by the receipt of a proposed cease and desist order from the Federal Deposit Insurance Corporation earlier this week, Fremont General Corp. announced Friday that it intends to sell its subprime residential real estate lending business.

Fremont General's stock price was down 16% in after-hours trading Friday after taking a 24% hammering on Wednesday.

To read more, see Fremont General to sell subprime residential business, reported at MarketWatch.com.

For another Fremont story earlier this week, see Fremont Shares Tumble After Postponement Of Q4 Result.

Click here for other recent stories on Fremont General Corp. at MarketWatch.com.
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