The Times stated that Fremont, a subprime mortgage lender has told 2,400 employees that they will lose their jobs in the next two months; and another struggling subprime lender, Ameriquest Mortgage Co., says it has returned baseball stadium naming rights to the Texas Rangers and that the facility will no longer be known as Ameriquest Field.
Subprime lenders continue to scale back their operations, shut down, or announce that they are up for sale; and more layoffs are expected in the near future, with New Century Financial, considered a likely candidate.
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