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Clock Ticking at H&R Block

Stock quotes in this article: HRB , LEND , NFI , NEWC  

The clock is ticking on H&R Block's(HRB Quote) plan to sell its mortgage business.

The Kansas City, Mo.-based tax company has said it expects to have a decision on so-called strategic alternatives for its Option One Mortgage by the end of March. H&R Block put the unit up for sale in November, saying it hoped to get $1.3 billion.

Since then, the subprime mortgage business has fallen apart. Shares in subprime lenders such as NovaStar (NFI Quote), Accredited (LEND Quote) and New Century (NEWC Quote) have plunged as defaults and delinquencies spiked. ...

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