Looking for the exit on subprime

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 [...]