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Amstar Financial Holdings Inc., the parent of Amstar Mortgage Corp. here, said it has agreed to relinquish managerial control of the mortgage company's affiliated branches to The Money Store.
As a result, Amstar Mortgage's operations will be discontinued on or about Dec. 15.
In a statement, Amstar Financial said it blamed four factors for its decision: the current mortgage market conditions, the increased unpaid liability created by former unprofitable...