First Permanent withdraws from market

Press reports this week said the firm, which is funded by Merril Lynch, will cease processing all new loan applications but will continue to service existing loans.

The news comes as Merril Lynch is set to report new write-downs of US$6-8 billion ($6.4-8.6 billion), according to The Wall Street Journal.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 17 April 2008