lehman brothers: Breaking News: Lehman Brothers Closes BNC Mortgage
- 08/22/07 07:13 AM
Lehman Brothers has just announced that they are closing their subprime mortgage unit, BNC Mortgage. The move will mean the loss of approximately 1200 jobs in 23 locations. They stated that current market conditions have forced them to reduce its resources and capacity in the subprime market. The complete article is here. Lehman Brothers also owns Aurora, a large Alt-A lender. Could they be next?
Lehman Brothers has just announced that they are closing their subprime mortgage unit, BNC Mortgage. The move will mean the loss of approximately 1200 jobs in 23 locations. They stated that current market conditions have forced them to reduce its resources and capacity in the subprime market.;)
;)
