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June 06, 2008
Fremont and Litton Close Deal
In response to an order from the Federal Deposit Insurance Corp. to either generate capital or put itself up for sale, Fremont General Corp. says Litton Loan Servicing LP has purchased the last of its servicing rights on $12.2 billion in mortgages. In April, CapitalSource Inc. agreed to purchase the troubled subprime mortgage lender's branches, deposits and other assets.
Posted by S. Germain at June 6, 2008 08:10 AM