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The 'subprime' lender also says it will close its 229 retail branches and
rely instead on the Web.
By Kathy M. Kristof and David Streitfeld, Times Staff Writers
May 3, 2006


The parent of Orange-based Ameriquest Mortgage said Tuesday it would lay off
one-third of its nationwide workforce and close all 229 of its retail
branches, in the latest sign of retrenchment in the real estate market.

The move to cut 3,800 jobs from a total ...   more »