Metropolitan Mortgage

Metropolitan Mortgage & Securities Inc. will try to chart a course through bankruptcy reorganization without a board of directors.

Metropolitan Mortgage & Securities Inc. executives seek continued salaries and payments as the company wrestles with bankruptcy.

An independent investigator should look into allegations that Metropolitan Mortgage & Securities Inc. executives committed fraud, according to the U.S. Securities and Exchange Commission.

With tears and resignation, C. Paul Sandifur Jr. is losing his family's legacy.

Beset by investigations, an auditing fiasco and unpaid, upset investors, Metropolitan Mortgage and Securities Inc. is betting on bankruptcy as its best chance at survival.

Metropolitan Mortgage & Securities Inc. is filing for bankruptcy next week, seeking relief from mounting debts and angry investors. The company will attempt to reorganize under Chapter 11 bankruptcy law, according to a press release issued Friday.

State officials are investigating dozens of former Metropolitan Mortgage brokers who allegedly used unscrupulous sales practices to sell risky stocks and bonds.

Metropolitan Mortgage & Securities Inc. announced Tuesday that it has asked to be delisted from the Pacific Exchange, a move that may put the company under the regulatory regime of the Washington state Securities Division.

C. Paul Sandifur Jr., whose father founded Metropolitan Mortgage & Securities Co. half a century ago, resigned Tuesday as chairman and chief executive of the venerable but troubled Spokane company.