Option One + Cerebus = Dead

Posted: Tue Dec 04, 2007 1:22 pm

From AP via CNN:

"Cerberus Capital Management LP and H&R Block (NYSE:HRB) Inc. said Tuesday they terminated their agreement for Cerberus to purchase H&R Block's mortgage subsidiary, which has now stopped accepting new mortgage applications."

Link here:

http://money.cnn.com/news/news.....410253.htm

Spontaneously Combusted Joined: 12 Mar 2007 Posts: 2099

This is confirmed with an employee in the Orlando, FL office. They got notice today Option One is closing/closed.

Posted: Wed Dec 05, 2007 2:01 am

Hmmm I wonder who's next? I venture to guess with a hint

Starts with D and rhymes with izelta.

Why would anyone send a loan there full doc for retarded rates...

The reason they existed was 'look the other way' UW (as per investors of course, no slant to the UW's)

Spontaneously Combusted Joined: 12 Mar 2007 Posts: 2099

Click here for the notice.