Fremont General Company Description
Fremont General owned Fremont Investment & Loan, which had more than 20 retail bank branches in California. Until 2007, the company wrote nonprime and subprime home mortgages nationwide and sold the loans into the secondary market, retaining the servicing. However, it was hit hard by the housing bust. Fremont sold its subprime lending unit to various investors, exiting the sector entirely. The company also sold its commercial real estate lending operations to iStar Financial in 2007, and sold the retail deposits and branches of Fremont Investment & Loan to CapitalSource for approximately $170 million in 2008. The company filed for Chapter 11 bankruptcy protection that year.
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The Company Description provides a historical perspective of Fremont General's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Fremont General's evolution in the marketplace.
