Wednesday, December 10, 2008

SubPrime Mess Still Haunts H&R Block

Despite shedding its money-losing mortgage operations to focus on its tax business, H&R Block (HRB-$19.95) is still haunted by collapsing real-estate prices. As of the second-quarter ended October 30, the largest provider of U.S. tax preparation services held approximately $812 million in residential loans purchased from former mortgage loan affiliates, Option One and H&R Block Mortgage, net $63.7 million in allowance for loan losses, according to its…. Read More….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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