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American Home Mortgage wholesale unit closes

NEW YORK
Thu Aug 2, 2007 6:50pm EDT

NEW YORK (Reuters) - American Home Mortgage Investment Corp's AHM.N wholesale division, American Brokers Conduit, has closed, according to its Web site.

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"It is with sincere and deep regret we inform you that American Brokers Conduit is shutting down all operations, effectively (sic) immediately," the announcement said.

Melville, New York-based American Home describes the wholesale business as the nation's 10th largest.

American Home itself is closing its doors on Friday and has told employees they will be laid off, according to the Long Island newspaper Newsday, citing an e-mail to employees from Chief Executive Michael Strauss.

(Reporting by Jonathan Stempel)
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