H&R Block Expects Mortgage-Linked Loss

H&R Block Inc., Kansas City, Mo., has announced that it expects to record a $102.1 million provision for losses in the current quarter related to its subsidiary Option One Mortgage Corp.Block said the expected loss provision would reflect an increase in the estimated recourse liability recorded by Option One for loan repurchases and premium-recapture reserves. "The increased level of loan repurchases, which have been noted industrywide, are primarily due to a higher level of repurchase requests from loan buyers and an increase in early payment delinquencies," the company said. The provision would represent an after-tax amount of $61.3 million, or $0.19 per share, Block reported. The company can be found online at http://www.hrblock.com.