Reuters
American Home Mortgage files for bankruptcyMonday August 6, 8:01 am ET
NEW YORK (Reuters) - American Home Mortgage Investment Corp. (NYSE:
AHM - News) filed for Chapter 11 bankruptcy protection on Monday, completing a rapid descent for a large U.S. home loan provider that lent to people considered to be good credit risks.
The Melville, New York-based real estate investment trust, one of the largest independent U.S. home loan providers, filed for protection from creditors with the U.S. Bankruptcy Court in Delaware.
The filing came after American Home closed most operations on Friday, laying off all but about 750 workers. It said it had started the year with more than 7,400 employees.
(Reporting by Tim McLaughlin, Jonathan Stempel and Joe Giannone)
