What's that line in 'Godfather III' where Al Pacino says, "Every time I try to get out, they pull me back in"? It's something like that. Any way, I was thinking of that line when I heard that Kyle Walker, the former CEO of Fremont Investment & Loan, and Bob Clafford, another alumnus of that subprime shop, are back in business. However, this time they are buying REO properties through their somewhat new firm, Home America of Lake Forest, Calif. During his career, Mr. Clafford also worked at Associates Financial Services, a subprime lender that was once owned by Ford Motor Co. Associates later went public and was bought by Citigroup. If you don't know what happened to Fremont, then you shouldn't be reading this...
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