H&R Block Mortgage - Retail Lender

2007-03-29

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stories: bizjournals.com, thestreet.com

H&R seems to be attempting to get out of the mortgage business with a quickness. We have word that this subsidiary, distinct from H&R's Option One unit, is being largely shut down. While the reports talk only about steep layoffs and office closures, the word on the streets is that all that is remaining is what is necessary to clean out the funding pipeline.

At least 141 people have been laid off, in connection with the closure of the Tampa office. It is unclear to us how many other offices there are and how many people work for them.

More details as they come in.

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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.