News Tag: redemption
July 23, 2008
One time subprime mortgage specialist, Edeus, has taken the unusual step of offering cash-back to selected customers who redeem their mortgages.
The lender closed its doors to new business last year and has been struggling to sell its loans to investors in mortgage-backed securities.
Much of the debt is in the sub-prime sector and the market for this is virtually dead.
The firm ...
Sub-prime lender offers cash-back on mortgage redemptions
by Gill Montia
