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| H&R Block Completes Option One Sale NEW YORK -- H&R Block Inc. completed the sale of part of its troubled subprime mortgage arm and will realize $1.3 billion in proceeds from the deal with distressed-asset investor Wilbur Ross, The Wall Street Journal reported Thursday. The company also announced it has repaid a servicing credit line and its revolving line of credit, the paper reported. When the deal was first announced in March for the mortgage loan-servicing business of Option One Mortgage Corp., it was said the business could be worth more than $1 billion, the paper reported. -- NYSSCPA.org News Staff Posted on 5/1/08 |
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