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BRIEFLY

EPIC's bankruptcy involves 7,000 fewer homes.

September 17, 1985

A U.S. bankruptcy judge in Virginia learned last week that only 13,000 homes are involved in the 341 Equity Programs Investment Corp. partnerships that filed for protection from creditors under Chapter 11 two weeks ago. EPIC filed for bankruptcy after defaulting on payments on $1.4 billion in mortgage and mortgage-backed securities. Los Angeles-based Ticor Mortgage Corp., which could lose as much as $166 million on mortgages that it insured for EPIC, does not know what effect the discovery will have.

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