Ownit Mortgage $4 million mortgage loan sale approved

By Caroline Salls

Pittsburgh, Feb. 22 - Ownit Mortgage Solutions, Inc. obtained court approval of the $4 million sale of 54 mortgage loans to Credit-Based Asset Servicing and Securitization LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the Central District of California.

The company said it received no qualified competing bids for the loans.

As previously reported, closing must occur no later than Monday.

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

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