Aegis Files for Ch. 11 Protection

Nonprime wholesaler Aegis Mortgage Corp., Houston, has filed for chapter 11 bankruptcy protection, listing 35 of its largest unsecured creditors who are owed about $90 million.About 10 days ago, Aegis -- which is owned by hedge fund giant Cerberus Capital -- stopped funding loans and laid off most of its production staff. According to its Delaware bankruptcy filing, the lender's top five creditors are: Morgan Stanley ($16 million); Countrywide Financial, Calabasas, Calif. ($14 million); EMC Mortgage, Lewisville, Texas ($11 million); Aurora Loan Services, Littleton, Colo. ($9 million); and Goldman Sachs ($8 million).

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