Subprime Crisis Drives FBR Mortgage Unit Into Ch. 11
The company said that FNLC's bankruptcy is “a result of the continued deterioration of the nonprime market.”
“FNLC's senior secured lender supports the orderly wind-down of FNLC's business,” FBR said.
Last July, Friedman Billings announced that it intended to sell 80% of...
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