Indy-based Ace Mortgage is closing

[Newsjock]

Source: Indianapolis Star

Indianapolis-based Ace Holding, which owns Ace Mortgage Funding, is closing.

The company said in memos to employees obtained today that it would shut down its mortgage-lending business, Archer Land Title company and Ace Imaging.

Ace had mortgage offices in 15 states, according to its Web site and as recently as 2006 had 1,050 employees, 172 based in Indianapolis.

In one memo, the company cited the weak housing market, a drop in mortgage loan volumes and adverse regulatory requirements as contributing to its demise. It said Ace Holding has lost almost $45 million since January 2007 and it had been trying to reduce operating costs and its workforce in recent months.

Read more: http://www.indystar.com/apps/pbcs.dll/article?AID=/20081027/BUSINESS/81027049

[LiberalFighter]

1. What jobs will Governor Daniels replace them with?

[704wipes]

2. Mitch could get them a job with the McNuts campaign for a week

Prove to them he & McCain did have jobs for them, robo-calling or such...

[antimatter98]

3. Another corporation disrespecting America and its workers

Let's start a fund for these laid off workers.

"Ace" aka Ass-hole, has gone down, and its employees
were not the cause of this.

Will someone with the ability please set up an account on PayPal
for the workers so that we can give them support.

Please.