Cal Star Financial Services Inc

Cal Star Financial Services Inc., a Costa Mesa mortgage banking firm that declared itself insolvent and ceased operations in February in the midst of a federal grand jury probe of its activities, has filed a Chapter 7 bankruptcy petition in federal court here. The company, which listed $66.7 million in assets and $65.8 million in liabilities, said its books and records have been seized by the FBI.

Cal Star Financial Services Inc., a Costa Mesa mortgage banking firm that declared itself insolvent and ceased operations in February in the midst of a federal grand jury probe of its activities, has filed a Chapter 7 bankruptcy petition in federal court here. The company, which listed $66.7 million in assets and $65.8 million in liabilities, said its books and records have been seized by the FBI.

Cal Star Financial Services Inc., a small Costa Mesa mortgage banking firm that is insolvent and $13.6 million in debt, disclosed Wednesday that a federal grand jury in Los Angeles is investigating its operations. Cal Star, which lost $2.2 million for its fiscal year ended Oct. 31, said the grand jury has issued broad subpoenas on the company and its chairman and chief executive, Dean M. Brewer.

Cal Star Financial Services Inc., an insolvent mortgage-banking firm under investigation by a federal grand jury in Los Angeles, said Thursday that it has ceased operations and is liquidating its remaining assets. The Costa Mesa-based company, which serviced a portfolio of $300 million in mortgages, operates 11 offices in six states and at one time employed 117 workers. All but four have been let go, the company said in a statement.

Cal Star Financial Services Inc., an insolvent mortgage-banking firm under investigation by a federal grand jury in Los Angeles, said Thursday that it has ceased operations and is liquidating its remaining assets. The Costa Mesa-based company, which serviced a portfolio of $300 million in mortgages, operates 11 offices in six states and at one time employed 117 workers. All but four have been let go, the company said in a statement.

Cal Star Financial Services Inc., a troubled mortgage banking firm, was stripped of its essential business Thursday when the nation's two largest buyers of home loans terminated their ties with the company. Spokeswomen for two quasi-government agencies--Federal National Mortgage Assn. (Fannie Mae) and Federal Home Loan Mortgage Corp.

Cal Star Financial Services Inc., a small Costa Mesa mortgage banking firm that is $13.6 million in debt and insolvent, said Wednesday that a federal grand jury in Los Angeles is investigating its operations. Cal Star, which lost $2.2 million for its fiscal year ended Oct. 31, said the grand jury has issued broad subpoenas on the company and its chairman and chief executive, Dean M. Brewer.

Cupertino-based Cal-Star Financial Services Inc. promoted Elizabeth M. Knight to executive vice president. She will be responsible for loan-servicing activities and will be director of corporate personnel for all subsidiaries.

Cal Star Financial Services Inc., a troubled mortgage banking firm, was stripped of its essential business Thursday when the nation's two largest buyers of home loans terminated their ties with the company. Spokeswomen for two quasi-government agencies--Federal National Mortgage Assn. (Fannie Mae) and Federal Home Loan Mortgage Corp.

Cal Star Financial Services Inc., a small Costa Mesa mortgage banking firm that is $13.6 million in debt and insolvent, said Wednesday that a federal grand jury in Los Angeles is investigating its operations. Cal Star, which lost $2.2 million for its fiscal year ended Oct. 31, said the grand jury has issued broad subpoenas on the company and its chairman and chief executive, Dean M. Brewer.

Cal Star Financial Services Inc., a small Costa Mesa mortgage banking firm that is insolvent and $13.6 million in debt, disclosed Wednesday that a federal grand jury in Los Angeles is investigating its operations. Cal Star, which lost $2.2 million for its fiscal year ended Oct. 31, said the grand jury has issued broad subpoenas on the company and its chairman and chief executive, Dean M. Brewer.

Cal-Star Financial Services Inc. reported a profit of $193,000 for the second quarter ended April 30, contrasted with a loss of $29,000 for the same quarter last year. Revenue for the quarter more than doubled to $1.4 million from $671,000. Earnings for the 6-month period totaled $169,000, contrasted with a year-ago loss of $25,000. Revenue more than doubled to $2.7 million from $1.1 million for the first half of fiscal 1988. Cal-Star is a mortgage banking company based in Irvine.