Breaking News!

Hey, I get to break something as far as I know:

Attention Broker Customers:

It is with deep regret that we must inform you that Fremont Investment and Loan has ceased lending activities effective Monday, March 5, 2007. This decision was reached as a result of the sudden material impact of regulatory and market constraints on our business.What does this mean to you?

1. Fremont Investment and Loan will no longer accept any new applications for residential loans effective Monday, March 5, 2007.

2. We are quickly working to make decisions on the status of your loans that are in process. As soon as a decision is reached as to their disposition, we will send out an additional notification to you with that information.

3. Communication on the status of your loans in process, as well as Fremont Investment and Loan’s future, will be posted on our Website at 1800Fremont.com.We apologize for the difficulty that this may cause you or your clients, and we are working very quickly to answer all of the questions that you may have. It has been our pleasure to do business with you, and we appreciate your support during this difficult time.

Sincerely,

Fremont Investment & Loan


Unlike some of our investors, Fremont actually does some other things, but I know they had a huge sub-prime lending apparatus, operating in 45 states with two offices in Orange County. So, this has cost a lot of people jobs, for sure.