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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (65860)	7/11/2006 6:32:13 PM
From: shades	Read Replies (1) \| Respond to of 110194

Centex Sells Subprime Home Equity Lending Operations >CTX DOW JONES NEWSWIRES Centex Corp. (CTX) completed the sale of its subprime home equity lending operation, Centex Home Equity Co. LLC, to Fortress Investment Group LLC, resulting in after-tax proceeds of $540 million. The Dallas home building company Centex's Centex Mortgage, Title & Insurance Group unit was unaffected by the sale. Centex may also get an added payment based on the operation's volume of mortgages originated over the next two years. -Andrew Edwards; 201-938-5400; AskNewswires@dowjones.com (END) Dow Jones Newswires July 11, 2006 17:04 ET (21:04 GMT)