Patrick S. Flood, former CEO of Homebanc Mortgage Corp in Atlanta, GA. HomeBanc Corp., the Atlanta-based mortgage lender that ceased new loan applications this week, has filed for Chapter 11 bankruptcy protection, the company's investor relations director said Friday. The filing was made late Thurs

• Contributor: ZUMA Press, Inc. / Alamy Stock Photo
• Image ID: CG1EG6
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• Dimensions: 3008 x 2000 px | 25.5 x 16.9 cm | 10 x 6.7 inches | 300dpi
• Date taken: 10 August 2007
• Photographer: ZUMA

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Patrick S. Flood, former CEO of Homebanc Mortgage Corp in Atlanta, GA. HomeBanc Corp., the Atlanta-based mortgage lender that ceased new loan applications this week, has filed for Chapter 11 bankruptcy protection, the company's investor relations director said Friday. The filing was made late Thursday in Wilmington, Delaware, said Carol Knies, HomeBanc's vice president of investor relations. HomeBanc, which had been reorganizing operations amid stress in the housing market, said Monday it would sell its mortgage operations and related assets to Countrywide Financial Corp. because its no longer could access its credit lines to fund new loans. 2004 photo ©Robin Nelson