American Home Sells 'Alt-A' Mortgages For $19M

Law360, New York (August 28, 2008, 12:00 AM EDT) -- A federal bankruptcy judge granted approval on Wednesday to American Home Mortgage Inc. to sell 233 “Alt-A” mortgages to Vantium Capital Markets LP.

Judge Christopher S. Sontchi of U.S. Bankruptcy Court for the District of Delaware approved the deal, which is worth a total of approximately $19.3 million, according to AHM's counsel.

AHM named Burbank, Calif.-based Vantium Capital its stalking horse bidder for the mortgages on Aug. 12, according to court filings. Judge Sontchi approved the auction process on Aug. 5, according to the docket....
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