If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
From their recent SEC 10-K filing:
We face significant challenges due to adverse conditions in the non-prime mortgage industry, and we cannot assure you that we will continue to operate as a going concern.
That’s about as blunt as you can get. Not surprisingly the stock was off about 50%. The subprime market continues to destroy those who were heavily involved. More from Reuters, Bloomberg.
