February 23, 1990 |
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.
February 16, 1990 |
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.
February 15, 1990 |
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.
March 24, 1987
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.