HomeBanc Files for Ch. 11

HomeBanc Mortgage, Atlanta, filed for chapter 11 bankruptcy protection Thursday, listing a slew of creditors, including foreign and U.S. banks.The publicly traded nondepository -- the nation's 52nd-largest residential funder -- listed debts of $4.9 billion. However, it claims assets of $5.1 billion. Its unsecured U.S. creditors include Bear Stearns, Fannie Mae, Freddie Mac, J.P. Morgan Chase, and KeyBank, among others. Its foreign creditors include Bank Hapoalim, BNP Paribas, Commerzbank Aktiengesellschaft, and Liquid Funding of Ireland. Some of these creditors had loan repurchase requests out with the lender. Last week HomeBanc agreed to sell assets belonging to five of its retail branches to Countrywide Home Loans.