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January 25, 2008
FBR mortgage unit files for Ch. 11
First NLC Financial Services LLC, the mortgage origination subsidiary of Friedman, Billings, Ramsey Group Inc., has filed for Chapter 11 bankruptcy protection. First NLC, a subprime residential mortgage lender, filed for Chapter 11 to pave the way for an orderly liquidation of its assets.
Posted by S. Germain at January 25, 2008 08:17 AM