<p>EquiFirst's price tag is two thirds less than was originally agreed, according to Topix. However, the price is subject to a final adjustment of book value, to be finalized during the second quarter in 2007.<br /><br />The lender is the 12th largest nonprime wholesale mortgage originator in the US. The sale represents yet another woe for the suffering US mortgage market. In recent months, this sector has seen further anguish, with the second largest subprime lender, New Century Financial, having recently filed for bankruptcy, reported The Associated Press. <br /><br />The deal, which was agreed in January 2007, originally sought an acquisition price of $225 million, but, due to the collapse of the US mortgage market, Barclays was able to significantly cut the purchasing price, according to an analyst cited in BusinessWeek.</p>
