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Middle-market US finance company CIT Group is to offload its loss-making home lending business and manufactured housing portfolio to concentrate on commercial finance.

More illegal fireworks found at Franklin Co. business; Pipe bombs found in home (WSLS Newschannel 10 Roanoke)
For the second time in a week, Franklin County investigators raid a business for illegal fireworks. Sheriffs Deputies and officials with the Franklin County Department of Public Safety served search warrants at Hilltop Mulch Inc., and a home on Route 40.

CIT to sell home lending business for $1.5 billion (Reuters via Yahoo! News)
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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