The Pine Brook, NJ-based U.S. Mortgage Corp., and its CU National Mortgage subsidiary, announced today that it has filed Chapter 11 Bankruptcy.

And it's blaming a credit union client.

"Although (crisis management firm NachmanHaysBrownstein) had sought to avoid a bankruptcy filing in order to save costs and prevent delay, and was supported in this effort by the vast majority of affected credit unions, a credit union insisted upon advising its members to stop sending payments normally to the company on their mortgages," stated a company release.

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