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updated: 10/30/2008 10:57:04 AM
Title Company to Close
The demise of a mortgage company is prompting an Indianapolis-based title firm to close. Archer Land Title Inc. says it is shutting down and will start laying off its 47 employees next month. The company says the decision by Ace Mortgage LLC to stop operating means it can no longer continue as a viable business. Ace Mortgage is Archer's principal client.
Source: Inside INdiana Business
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In a letter to the state, Archer says been "severely and negatively" impacted by the national credit crisis.
Ace Mortgage Funding decided to shut down after it could not secure an essential lineof credit.
Source: Indiana Department of Workforce Development
