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• CIT agrees to sell home lending business  Banking Business Review - 37 minutes ago CIT Group, a commercial finance company, has agreed to sell its home lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities.



• Fire devastates Olson log home business  The Chronicle - Jul 03 9:29 AM At 5:30 p.m. July 1, Ty Olson received a call telling him his shop and office for his business, Mountainview Log and Timber Structures, was on fire. That evening, he lost everything in building by a devastating fire, for which a cause remains unknown.



• Home Based Business Connection Offers Networking Tips  Leesburg Today - Jul 03 5:27 AM Some 40 Loudoun County Chamber of Commerce members attended the Home Based Business Connection event Monday at the Comfort Suites in Leesburg.



• CIT sells home lending business  CNN Money - Jul 01 4:43 AM Finance company's latest effort to shore up capital leads to exiting its home mortgage business and selling its $470 million manufactured housing portfolio at a loss.



• CIT to sell home lending business for $1.5 billion  Reuters via Yahoo! News - Jul 01 3:55 AM  Commercial lender CIT Group Inc agreed to sell its home lending business to private equity firm Lone Star Funds for $1.5 billion in cash to increase liquidity, and will take a related second-quarter charge of $2 billion.

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