Subprime Lending

FMF Capital Shuts its Doors 

FMF Capital Group Ltd. said late Friday the the subprime lender will conduct what it called “an orderly wind-down” of FMF Capital LLC, its primary operating subsidiary. The company said in a press statement that its decision was the result of the “continuing rapid and severe deterioration of the U.S. nonprime mortgage industry,” as well as other factors affecting its overall nonprime mortgage business. FMF said it had previously retained a financial advisor to explore all potential strategic alternatives, including a potential sale of the business, which did not result in any viable alternative other than closing its doors.