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Amstar Mortgage Plans Layoffs At HeadquartersReuters
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August 17, 2007
NEW YORK - Amstar Financial Holdings Inc. (AFLH.PK: Quote, Profile, Research) said on Friday that its Amstar Mortgage Corp. unit was laying off most of the office staff at its corporate headquarters in Houston.
Amstar blamed current industry market conditions for the move and said it was speaking with another mortgage company about managing Amstar branches. Amstar Financial ultimately hopes to divest itself of the mortgage unit to concentrate on more profitable ventures, it said.
(Reporting by Christian Plumb)
http://www.reuters.com/article/bondsNews/idUSWEN053620070817
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