Spectrum Financial Group Inc. filed for chapter 11 protection on Tuesday in the U.S. Bankruptcy Court for the District of Arizona, Bankruptcy Law360 reported yesterday. The Scottsdale, Ariz.-based company focused its business mainly on residential loans that it presold to a third party. The company, which claims to be the largest private mortgage brokerage in Arizona, listed assets and debts of under $100 million. A meeting of the company’s creditors has been scheduled for Oct. 16. The case is Spectrum Financial Group Inc., case number 07-04265 in the U.S. Bankruptcy Court for the District of Arizona.