Ownit Mortgage withdraws loan sale request

By Caroline Salls

Pittsburgh, Nov. 16 - Ownit Mortgage Solutions, Inc. has withdrawn its motion for approval of the sale of its remaining mortgage loans, according to a Friday filing with the U.S. Bankruptcy Court for the Central District of California.

As previously reported, the company obtained court approval of the bid procedures for the sale on Sept. 18, then it extended the bid deadline and pushed back the auction and sale hearing dates on Oct. 10.

Ownit, an Agoura Hills, Calif., mortgage lender, filed for bankruptcy on Dec. 28, 2006. Its Chapter 11 case number is 06-12579.

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