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Mortgage Lenders post $321,974 February net loss
By Caroline Salls
Pittsburgh, May 1 - Mortgage Lenders Network USA, Inc. posted a $321,974 net loss for February on $22,509 in revenues, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, the company reported a $525,588 January net loss on $45,893 in revenues.
Cash and cash equivalents on Feb. 28 were $9.7 million, compared with $10.02 million on Jan. 31.
Mortgage Lenders Network, a Middletown, Conn.-based lending company, filed for bankruptcy on Feb. 5, 2007. Its Chapter 11 case number is 07-10146.
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