H&R Block, the largest U.S. tax preparer, said today it tapped $250 million from a couple of credit lines, citing a deterioration in the market for commercial paper — short-term debt issued by companies or banks.
The company, which owns subprime lender Option One Mortgage in Irvine, borrowed the money under the name Block Financial Corp., [...]
Related Headlines
- H&R Block says sale of Option One uncertain, reports $304 million lossposted 71 weeks ago on Mortgage Insider
- H&R Block taps $1 billion in credit linesposted 72 weeks ago on Mortgage Insider
- H&R Block closes sale of Irvine loan servicing unitposted 36 weeks ago on Mortgage Insider
- S&P puts 207 classes of Alt-A loans on negative watchposted 74 weeks ago on Mortgage Insider
- Option One losses topple H&R Block chiefposted 59 weeks ago on Mortgage Insider
- Option One expects to fund less than half its pipelineposted 56 weeks ago on Mortgage Insider
- Option One Q2 loss: $551.2 millionposted 56 weeks ago on Mortgage Insider
- Option One gets $350 million in additional financingposted 59 weeks ago on Mortgage Insider
- S&P cuts rating on Option One’s parentposted 71 weeks ago on Mortgage Insider