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Cendant Sees Second Year of Big Impairment Charges.(Brief Article)
Cendant Mortgage here, the nation's ninth largest residential servicer, took a $263 million servicing "impairment" charge in 2002.
A year earlier, the company took a $155 million charge, bringing its two-year impairment total to $419 million.
The company, a non-depository that is owned by a conglomerate with interests in real estate brokerage and auto rentals, declined to discuss the impairment charges and the profitability of its mortgage division.
The firm's 2002 earnings ...
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