was praised for changing its business model this spring, but the decision has come back to haunt it.

In January of last year, when anything Internet-related was hot, the Sunrise, Fla., mortgage bank, then a traditional bricks-and-mortar company called First Mortgage Network, reinvented itself as a Web lender that would take applications from consumers in cyberspace. It bought an address that people shopping for mortgages on the Web would be likely to try:

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