A rescue plan was unveiled for EPIC.
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Lenders who hold the bulk of $1.4 billion in troubled mortgages and mortgage-backed securities issued by Equity Programs Investment Corp., a unit of Maryland-based Community S&L;, unveiled a bail-out plan to cut their losses. The plan is similar in some respects to one put forward last month by Los Angeles-based Ticor Mortgage Insurance Co. but rejected by lenders. Ticor stands to lose up to $166 million because of the default of EPIC.
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