Fremont Gets $1B LOC Increase

Fremont General Corp., Santa Monica, Calif., says it has received increased funding from Credit Suisse to the tune of $1 billion.It also revealed that it "has received various proposals" for additional credit facilities. Credit Suisse also has been hired to sell the depository's subprime production affiliate, Fremont Investment & Loan, the nation's eighth-largest B&C funder. FGC said its commercial mortgage and servicing units are profitable. The company has delayed releasing its annual 10-K and is working with auditors to review its financial statements. In late February FGC said that, because of subprime-related troubles at FI&L, it would delay the release of its fourth-quarter and full-year earnings, decimating its share price. A wholesaler, FI&L has stopped funding loans. Fremont can be found online at http://www.fremontgeneral.com.