Fremont Sells Servicing Rights Back to Carrington Affiliate

Friday, March 21st, 2008 @ 7:14 am | Financial

Fremont General Corporation said late Thursday that it will sell servicing rights on $1.9 billion in mortgage loans — 13 percent of its existing servicing portfolio — back to an affiliate of Carrington Capital Management, as the troubled thrift looks to generate additional liquidity to fund its own operations. The loans being transferred are held in securitization trusts sponsored by an affiliate of Carrington, Fremont said. Carrington, you’ll recall, scooped up failed subprime lender New Cent

 

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