Aegis Mortgage files for bankruptcy

In a previous report we told you that Aegis could not meet all of its existing funding obligations. 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.

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  1. According to the bankruptcy filing, Aegis’ largest unsecured creditors included affiliates of Morgan Stanley and Countrywide Financial Corp, among others.

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