AHM Files for Bankruptcy

American Home Mortgage Corp. filed for bankruptcy protection on Monday, the latest casualty of a mortgage industry that has plunged into distress.

The Melville, N.Y.-based company's request for Chapter 11 bankruptcy protection -- filed in bankruptcy court in Wilmington, Del. -- caps more than a week of turmoil for what was last year the 10th-biggest U.S. home lender.

Ten days ago, American Home Mortgage froze the 70 cent-per-share dividend scheduled to be paid that day.

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- Posted: 2007-08-06 09:13:24

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