The financial services division of Centex Corp., Dallas, lost $44 million for the quarter ending September 30, partly because of costs related to the shutdown of its traditional retail mortgage banking operation. Centex is the parent of CTX Mortgage, a top 30 ranked residential lender. During the quarter CTX completed a wind down of its business of originating loans on non-Centex properties. The shutdown alone cost it $26 million. The mortgage banker continues to fund loans on homes built by Centex. During the quarter the entire company lost $172 million compared to a $644 million loss in the same period last year.
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