Indymac Blames Schumer for Run on Bank
Despite being in a quiet period, Indymac took the time to respond to a letter written by Senator Charles Schumer last week that stoked solvency… Read More »Indymac Blames Schumer for Run on Bank
June 2008
Introducing Wachovia’s New Three-Pronged Option Arm
Wachovia announced today that it would no longer offer the negative amortization payment option on its popular and now infamous “Pick-a-Payment” loan program amid heightened… Read More »Introducing Wachovia’s New Three-Pronged Option Arm
CRL: Indymac Dug Its Own Grave
The Center for Responsible Lending has impeccable timing, considering the fact that Indymac is trading at its lowest point ever amid mounting solvency concerns. The… Read More »CRL: Indymac Dug Its Own Grave
Indymac Teetering Above One Dollar a Share
All is not well in Pasadena, at least not for one of the nation’s largest independent mortgage lenders. Indymac Bancorp saw its shares fall nearly… Read More »Indymac Teetering Above One Dollar a Share
Countrywide Shareholders Approve Takeover, Lawsuits Loom
Countrywide announced today that its shareholders approved the merger with Bank of America, set to close on July 1 upon satisfaction of customary closing conditions.… Read More »Countrywide Shareholders Approve Takeover, Lawsuits Loom
Politico Gets Mortgage Answers from Senators
Political news site Politico last week asked 100 U.S. senators to explain how they obtained their mortgages in light of recent news that Countrywide had… Read More »Politico Gets Mortgage Answers from Senators
Wachovia Turns to Goldman for Mortgage Advice
Wachovia revealed today that is has enlisted Goldman Sachs, one of the few financial giants to largely avoid the mortgage crisis, to review its troubled… Read More »Wachovia Turns to Goldman for Mortgage Advice
Service Launched to Help Pets Affected by Foreclosure
A new non-profit called “No Paws Left Behind” was launched today to help foreclosure victims find homes for their pets if they’re unable to take… Read More »Service Launched to Help Pets Affected by Foreclosure
CEO: Indymac Needs to Raise Capital
An e-mail sent to business partners this morning contained recent thoughts from Indymac Bancorp CEO Mike Perry, who recognized the fact that his company needs… Read More »CEO: Indymac Needs to Raise Capital
Jumbo Loan Rates Still Much Higher than Conforming
The interest rate spread between conforming loans and jumbo mortgage rates stood at 1.36 percent this week, according to the BanxQuote Index. The national average… Read More »Jumbo Loan Rates Still Much Higher than Conforming