(Reuters) - The deal could eventually lead to the investor group owning 20 percent of the outstanding stock of the company, one of several lenders to less credit-worthy home buyers who have scrambled to overcome rising defaults and late payments amid a U.S. housing slowdown.
Santa Monica, California-based Fremont also said the buyer in its previously disclosed agreement to sell its subprime residential real estate business was hedge fund Ellington Capital Management.
Read more at Reuters.com Mergers News
Santa Monica, California-based Fremont also said the buyer in its previously disclosed agreement to sell its subprime residential real estate business was hedge fund Ellington Capital Management.
Read more at Reuters.com Mergers News
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