Mortgage Lenders' Pact Pares Down Extension

Law360, New York (January 23, 2008, 12:00 AM EST) -- Mortgage Lenders USA Inc. has received an extension of its exclusivity rights. But the company didn't get the 90-day extension it asked for in December because of an agreement between the debtor, its primary prepetition warehouse lender and its unsecured creditors committee.

On Tuesday, U.S. Bankruptcy Judge Peter J. Walsh signed off on an order extending Mortgage Lenders USA's exclusive filing rights through Feb. 22, 2008, and its exclusive solicitation rights through April 7, 2008.

The debtor's exclusive filing and solicitation rights were slated to expire...
To view the full article, register now.