Some feel that this is likely a negotiating ploy to gain a better price for Fremont Mortgage, while others feel that the subprime mortgage implosion has deterred investors.
Once again, in what has become ‘not too shocking’ anymore, another subprime mortgage lender cuts more jobs. Unfortunately, this is exactly what we should expect when Wall Street stops buying subprime mortgages, the financing industry had record growth but now slowing and we are living in a ‘mortgage credit crunch’….expect more job losses to come.
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