Thursday, May 6, 2010

$HRB may not have sufficient reserves for this liability mortgages are being put back to originators

HRB – cautious mention in WSJ; says the co’s Option One mortgage unit, despite being sold 2 yrs ago, could still haunt the company; mortgages are being put back to originators if there is found to have been fraud or misrepresentation involved in the origination process.  This could wind up hurting HRB, which may not have sufficient reserves for this liability

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