Southern Star Mortgage to Dissolve
Southern Star Mortgage Corp. is looking to dissolve in the wake of the country’s mortgage lending crisis and a general slowdown in the real estate market, TheDeal.com reported yesterday. East Meadow, N.Y.-based Southern Star said in papers filed in the U.S. Bankruptcy Court for the Eastern District of New York in Brooklyn that it is hoping to complete an orderly wind-down of its business while under protection from creditors. Southern Star’s operations were primarily carried out in New York, New Jersey, Florida, California, Connecticut, Texas, Pennsylvania, Massachusetts, Maryland, Illinois and North Carolina, and the company originated and sold residential mortgages, as well as sold the servicing rights of its mortgages to institutional end-loan investors. The company filed for Chapter 11 on Dec. 21.






