hoho, another mortgage company bankrupcy.

MS, CFC stock will drop tomorrow. hehehe. What an interesting time!

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UPDATE 1-Aegis Mortgage files for Chapter 11 bankruptcy
Reuters - August 13, 2007 4:36 PM ET


Related Quotes
Symbol Last Chg
AHMIQ Trade 0.28 0.00
HMBN Trade 0.02 -0.028
MS Trade 59.64 -0.39
CFC Trade 26.61 -1.10
Real time quote.

(New throughout)

NEW YORK, Aug 13 (Reuters) - Aegis Mortgage Corp., a mortgage lender controlled by private equity firm Cerberus Capital Management, has filed for Chapter 11 bankruptcy protection, a week after it shut down loan operations.

The Houston-based lender and several affiliates filed for protection from creditors with the U.S. Bankruptcy Court in Wilmington, Delaware, according to court papers. Aegis listed more than $100 million each in assets and liabilities.

Aegis joined Melville, New York's American Home Mortgage Investment Corp. AHMIQ.PK and Atlanta-based HomeBanc Corp. HMBN.PK among mortgage lenders to seek protection from creditors this month. Several others have filed for Chapter 11 this year, while dozens more have quit the industry.

Home loan providers have been struggling with rising defaults, the refusal of investors to buy loans they make, and the unwillingness of many banks to extend credit.

Aegis has described itself as one of the 30 largest U.S. mortgage lenders, with nearly 1,500 employees. Neither Aegis nor Cerberus immediately returned calls seeking comment.

According to the bankruptcy filing, Aegis' largest unsecured creditors included affiliates of Morgan Stanley (MS) and Countrywide Financial Corp (CFC), among others. (Reporting by Jonathan Stempel; additional reporting by Michael Flaherty)

所有跟帖： 

• 悄悄问一下,如果mortgage company bankrupcy. -bEsc- ♀ (34 bytes) () 08/13/2007 postreply 15:15:47

• charpter 11 protects the company from claming debt -pediatrician2- ♂ (171 bytes) () 08/13/2007 postreply 15:30:41

• 这种美事不只你一个想做。 -内嫁老婆- ♀ (0 bytes) () 08/13/2007 postreply 16:27:17