Option One Done?

Option One is no longer accepting loan applications following the termination of the deal by private equity company Cerberus to take over the ailing mortgage unit from H&R Block.  The Ml-Implode.com web site has all the details. Lots of media coverage from the sinking of the once-mighty subprime mortgage company.  Option One had tried to restructure its origination unit to originate Fannie & Freddie eligible loans; but the space is so crowded that the late arriving subprime originator simply couldn't compete with existing Fannie/Freddie conduit banks. From the Option One Web site: Dec. 4, 2007 Today, Option One?s parent company, H&R Block Inc., announced that effective immediately Option One will cease accepting new mortgage loan applications. However, it