Hedge fund buying Fremont loans -report

NEW YORK, April 18 (Reuters) - A hedge fund is finalizing a deal with Fremont General Corp. FMT.N to buy $2.9 billion worth of loans and the lender's real estate business, including its mortgage bond investments and loan origination platform, the New York Post reported on its Web site on Wednesday.

Ellington Capital Management, which has $4 billion in assets, signed a letter of intent for the purchase, the Post reported, citing the fund's founder, Michael Vranos.

Ellington Capital could not immediately be reached for comment.