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H&R Block Gets Boost For Its Subprimes

Published November 24th, 2007 in Banks. Tags: , , , , , .

Option One, H&R Block’s subprime financing unit received $350 million in new funding capacity.  Royal Bank of Scotland supplied the funding.  Option One has also received funding from Greenwich Capital Financial Products.  No final deal has been made for H&R to sell Option One - its deal with Cerberus feel through.

Find more subprime information from Google

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« Japanese Banks Hold $12 Billion in Subprime Assets
It’s Not Going To Be Pretty: Mortgage Resets »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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