Friedman, Billings, Ramsey Group, Inc. is the latest company to begin extricating itself from subprime.
Yesterday the investment bank announced a $75 million recapitalization deal with Sun Capital Partners, which will invest $60 million in Friedman's lending unit, First NLC Financial Services. Friedman will invest $15 million.
The deal will limit Friedman's future exposure to FNLC to [...]
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