More info...
Commercial lender CIT Group Inc agreed to sell its home lending business to private equity firm Lone Star Funds for $1.5 billion in cash to increase liquidity, and will take a related second-quarter charge of $2 billion.

CIT Group to sell home lending business for $1.5 billion (The Star-Ledger)
Commercial finance firm CIT Group is selling its home lending business to Lone Star Funds for $1.5 billion, reducing its exposure to a line of business hurt by the soured housing market, the company said this morning.

Home Business

More illegal fireworks found at Franklin Co. business; Pipe bombs found in home (WSLS Newschannel 10 Roanoke)
For the second time in a week, Franklin County investigators raid a business for illegal fireworks. Sheriffs Deputies and officials with the Franklin County Department of Public Safety served search warrants at Hilltop Mulch Inc., and a home on Route 40.

Share Your Opinion. (0 posts)

Tag it:

?