Trouble at H&R Block

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News item worth watching: H&R Block’s efforts to sell its mortgage unit are running into trouble. If the deal falls apart, it will mark a big vote of ‘no confidence’ from Wall Street: ‘ H&R Block Inc.’s mortgage unit lost a $1.5-billion credit line, falling ‘dangerously close’ to the minimum amount of borrowing capacity demanded by a hedge fund firm that has agreed to buy the money-losing home lender.’

More: ‘The tax-preparation giant, based in Kansas City, Mo., said it was confident the loss of the credit line wouldn’t stop the sale of sub-prime lender Option One Mortgage Corp. to Cerberus Capital Management, a New York-based hedge fund manager.’

Photo Credit: Reuters