H&R Block tumbles on fears regarding mortgages (AP)
NEW YORK – Shares of H&R Block Inc. are leading the S&P 500 downward on renewed fears that the company best famous for set preparation haw face new problems regarding its closed subprime mortgage unit.
Shares tumbled 6 percent Monday, with a group of mortgage stick investors ostensibly trying to obligate Block's past mortgage organisation to acquire backwards billions of dollars in defaulted bag loans.
The mortgages cursive by Block's past Option One unit, which shut downbound in December 2007, hit been a continual anxiety for investors, but one that had been discounted lately.
Views dissent most how vulnerable the company would be to claims.
The sell-off haw be exacerbated by continued structure market weakness, and questions most whether bag prices hit hit bottom.
Shares are downbound $1.07 to $16.17.
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